Browse content similar to 16/06/2016. Check below for episodes and series from the same categories and more!
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The child was playing at the shore of a lagoon when he was dragged | :00:00. | :00:00. | |
Those are the latest headlines from BBC World News. | :00:00. | :00:07. | |
Now for the latest financial news with Sally and World Business | :00:08. | :00:10. | |
Rebuilding bridges - Putin and Juncker to hold talks | :00:11. | :00:18. | |
at Russia's economic forum, but is there any chance | :00:19. | :00:20. | |
We look at Disney's $5 billion Shanghai gamble. | :00:21. | :00:38. | |
Also in the programme: No action from the Bank of Japan. | :00:39. | :00:47. | |
The yen soars in value hitting Japanese stocks hard. | :00:48. | :00:51. | |
Our team in the region will have the latest. | :00:52. | :00:53. | |
We start in Russia, where President Vladimir Putin | :00:54. | :00:55. | |
is about to welcome business and political leaders from around | :00:56. | :00:58. | |
the world for the St Petersburg Economic Forum. | :00:59. | :01:03. | |
Perhaps the biggest meeting on his schedule today is with this | :01:04. | :01:06. | |
man, European Commission President Jean Claude Juncker. | :01:07. | :01:10. | |
It's the first visit to Russia by the EU chief since Europe imposed | :01:11. | :01:13. | |
wide ranging sanctions two years ago over Russia's involvement | :01:14. | :01:15. | |
The EU's sanctions put restrictions on investments, | :01:16. | :01:21. | |
the energy sector and export of military hardware. | :01:22. | :01:24. | |
While Russia's counter-measures have targeted Europe's | :01:25. | :01:25. | |
Last year, trade continued to shrink dramatically | :01:26. | :01:32. | |
Russian exports to the EU fell by more than $52 billion, | :01:33. | :01:38. | |
But the EU has also been hit by Russia's retaliatory sanctions, | :01:39. | :01:45. | |
particularly farmers, with exports dropping $32 billion | :01:46. | :01:47. | |
The current EU sanctions come to an end next month, | :01:48. | :01:56. | |
but they are widely expected to be renewed amid ongoing | :01:57. | :01:59. | |
In a speech on Wednesday German Finance Minister Wolfgang Schaeuble | :02:00. | :02:04. | |
argued the sanctions should stay in place. | :02:05. | :02:13. | |
TRANSLATION: This is a nonnegotiable requirement for Russia. Let me | :02:14. | :02:20. | |
reiterate that. There can be no return to normal relations if Russia | :02:21. | :02:23. | |
behaves contrary to international law. Europe must uphold the lesson | :02:24. | :02:31. | |
from its history, that international law is an indispensable tool for | :02:32. | :02:33. | |
maintaining peace. For more analysis I'm | :02:34. | :02:42. | |
joined by Chris Weafer, Senior Partner at Macro-Advisory, | :02:43. | :02:44. | |
a Russia-Eurasia business It will be an interesting forum. | :02:45. | :02:52. | |
There are quite a few international leaders there this time. That's | :02:53. | :02:56. | |
right. The most interesting and important forum that we've had since | :02:57. | :03:04. | |
pre-Crimea. There are a number of leaders, including the Italian Prime | :03:05. | :03:09. | |
Minister. We are also hearing that there will be a larger number of | :03:10. | :03:13. | |
senior executives from the US this time than we have had in the last | :03:14. | :03:16. | |
couple of sessions. What does this tell us? Partly the message that we | :03:17. | :03:21. | |
have heard from senior government officials is that Russia has | :03:22. | :03:26. | |
survived through the crisis. The word resilience has been used a | :03:27. | :03:30. | |
great deal. The economy has proved resilient in the face of sanctions. | :03:31. | :03:34. | |
Remember the collapse in the oil price. We are expecting the economy | :03:35. | :03:38. | |
to pull back in the second half of this year. That will be part of the | :03:39. | :03:43. | |
message. The second message is that Russia is preparing for post- | :03:44. | :03:46. | |
sanctions, is preparing to re-engage with Western leaders and to turn to | :03:47. | :03:54. | |
a growth strategy. So that will be the two clear messages. The date for | :03:55. | :03:58. | |
the lifting of sanctions is the 31st. Where are we with the conflict | :03:59. | :04:05. | |
between the two regions? I think all the evidence points to the sanctions | :04:06. | :04:08. | |
being fully rolled over at on July 31. The focus now is on what happens | :04:09. | :04:17. | |
to thousands in the. -- in 2017. On the European side, the Russian | :04:18. | :04:22. | |
position is that they believe they have done everything to advanced | :04:23. | :04:29. | |
minx to. They say it isn't making progress because Kia isn't able to | :04:30. | :04:32. | |
pass legislation which is a critical part. -- Kiev. So the message will | :04:33. | :04:41. | |
be that they've done everything they can and they deserve sanctions | :04:42. | :04:47. | |
relief next year. When we talk about sanctions, Crimea's sanctions will | :04:48. | :04:51. | |
stay indefinite. Russia wants an easing of financial sanctions. That | :04:52. | :04:55. | |
is important for the country to get back to where it was. Thank you for | :04:56. | :05:00. | |
coming in. Any news we get out of St Petersburg we will update. We are | :05:01. | :05:04. | |
also watching what's going on in Shanghai. | :05:05. | :05:06. | |
Disney has just opened its first ever theme | :05:07. | :05:08. | |
It has cost some $5.5 billion, and Disney boss Bob Iger has | :05:09. | :05:12. | |
described the project as the biggest step | :05:13. | :05:14. | |
It looks like Disney, with the castle in the centre. It feels like | :05:15. | :05:27. | |
Disney, an escape from the real world. And it sounds like Disney. | :05:28. | :05:33. | |
Welcome to Shanghai Disney! But this one is different. This time Mickey | :05:34. | :05:39. | |
Mouse, Mi Lao Shu as he is known here, is Communist Party approved. | :05:40. | :05:43. | |
This was the latest meeting between China's president and Disney's chief | :05:44. | :05:50. | |
executive Bob Iger. The Communist Party chief has already been to | :05:51. | :05:54. | |
three Disney parks, apparently. It has taken 17 years and 5.5 billion | :05:55. | :05:59. | |
dollars now Bob Iger has his China park and it is ready for visitors. | :06:00. | :06:04. | |
From the moment they enter everything they see and experience, | :06:05. | :06:08. | |
the attractions, the food, the entertainment, down to the smallest | :06:09. | :06:12. | |
level of detail, is instantly recognisable not only as | :06:13. | :06:14. | |
authentically Disney but as distinctly Chinese. But it comes at | :06:15. | :06:20. | |
a price, which he wouldn't discuss. In fact, Disney repeatedly refused | :06:21. | :06:26. | |
to let us do a sitdown interview, so... | :06:27. | :06:32. | |
For some of the 10,000 staff behind the scenes, a day at Disney is | :06:33. | :06:38. | |
beyond their reach. For a couple with a child the cost would be more | :06:39. | :06:42. | |
than the average monthly income in mainland China. This he is | :06:43. | :06:47. | |
unapologetic about its high-end food prices. It is all part of the battle | :06:48. | :06:50. | |
for China's growing richer middle class. Disney thinks it will tend to | :06:51. | :06:57. | |
people with its authentic offering and there are lots to tempt. 330 | :06:58. | :07:02. | |
million within a few hours. So, is it the real thing? Disney has gone | :07:03. | :07:07. | |
to great lengths to change for China! Some of the rides, like the | :07:08. | :07:15. | |
rapids. Some are unique to Shanghai. At the radical difference is behind | :07:16. | :07:20. | |
the scenes. This is a joint-venture. Disney is in business with firms | :07:21. | :07:24. | |
owned by the Shanghai government. They get some of the profits and | :07:25. | :07:28. | |
loss of influence. That is, to borrow the phrase, it is deeply | :07:29. | :07:32. | |
Chinese arrangement in authentically Disney setting. -- in and | :07:33. | :07:36. | |
authentically. Robin is apathy park. You are driver | :07:37. | :07:47. | |
in our! That's good to see. -- at the park. Tell me about the | :07:48. | :07:53. | |
interview with Bob Iger. This is a big deal for him. It was supposed to | :07:54. | :07:57. | |
be his legacy, as he was due to leave Disney this year. That isn't | :07:58. | :08:01. | |
happening as the man who was supposed to takeover left instead. | :08:02. | :08:07. | |
It is 70 years since Bob Iger came here and surveyed the wasteland that | :08:08. | :08:12. | |
is now this park. -- 17. He gave some interviews to some American | :08:13. | :08:17. | |
networks and Chinese networks, but he wouldn't sit down with the BBC. I | :08:18. | :08:21. | |
wanted to ask him about the project and politics because in China, where | :08:22. | :08:24. | |
there is business and economics, there is always politics. Do we just | :08:25. | :08:29. | |
asked him a couple of brief questions, one about how much it | :08:30. | :08:34. | |
costs to come into the park. The other issue is about corruption. | :08:35. | :08:39. | |
There's been no evidence corrupt practices here at the construction | :08:40. | :08:42. | |
of this park corruption is a huge issue in China. The president has | :08:43. | :08:47. | |
made it the top of his agenda and I wanted to address that with him. | :08:48. | :08:50. | |
However, he did not want to engage. Interesting. Thank you. See you | :08:51. | :08:52. | |
soon. Now, it's just a week until voters | :08:53. | :08:53. | |
here in Britain decide whether the UK should remain | :08:54. | :08:56. | |
in the European Union or leave. All this week we are hearing | :08:57. | :09:00. | |
the views of small business owners Here's one who thinks he is far | :09:01. | :09:03. | |
better off in than out. I1 of the owners of -- ARM one of | :09:04. | :09:20. | |
the owners of this company that has been recycling textiles for 26 | :09:21. | :09:24. | |
years. Our main business partner is Britain. We have about 100 times | :09:25. | :09:31. | |
daily. I hope Britain will stay in the EU. There are three main | :09:32. | :09:38. | |
reasons. One of the reasons is the custom duties. Obviously if Britain | :09:39. | :09:44. | |
leaves them custom duties might be imposed, which makes goods | :09:45. | :09:50. | |
expensive. The other reason is our bureaucracies, which makes the | :09:51. | :09:56. | |
procedure is longer. More expensive and difficult, sometimes impossible. | :09:57. | :10:01. | |
The third is the currency fluctuation. No one knows what will | :10:02. | :10:07. | |
happen, but if the pound gets stronger obviously the prices will | :10:08. | :10:10. | |
be more expensive for us. Finally there is an even bigger problem. If | :10:11. | :10:15. | |
Britain leaves them the whole EU may break up and that wouldn't be good | :10:16. | :10:20. | |
for anyone. So that's one view. Plenty more on our website and | :10:21. | :10:24. | |
interesting that both central banks that have been active in the past 24 | :10:25. | :10:29. | |
hours, the bank of Japan and the US Federal Reserve, have been talking | :10:30. | :10:33. | |
about that decision which will be made next week about the UK and the | :10:34. | :10:37. | |
EU referendum. Janet Yellen holding from taking interest rates in the | :10:38. | :10:41. | |
US, citing a reason for the holding of was partly to do with the UK | :10:42. | :10:47. | |
referendum and the consequences that could take place. Also in Japan the | :10:48. | :10:50. | |
bank of Japan, no change to interest rate policy and no change to | :10:51. | :10:55. | |
stimulus. The Japanese yen is soaring off the back about. It | :10:56. | :10:59. | |
hasn't been strong since September, 2014. That's really hitting stocks | :11:00. | :11:05. | |
and exported is in Japan in terms of how they have been trading. I want | :11:06. | :11:09. | |
to show the US. Of course the Federal Reserve meeting took base. | :11:10. | :11:13. | |
That's how Wall Street ended. -- took place. See you soon. | :11:14. | :11:21. | |
Two of Britain's leading public health organisations are calling | :11:22. | :11:24. | |
for the possession and personal use of all illegal drugs to be | :11:25. | :11:29. | |
The Royal Society for Public Health and the Faculty of Public Health say | :11:30. | :11:34. |