:00:00. > :00:00.A total of 200,000 signatures are needed
:00:00. > :00:00.Those are the latest headlines from BBC World News.
:00:00. > :00:17.Now for the latest financial news with the World Business Report.
:00:18. > :00:20.The OECD reports on internet censorship, cyber security,
:00:21. > :00:36.the cyber economy and human rights online.
:00:37. > :00:39.Plus the tale of the shoe maker, as we head closer to the UK
:00:40. > :00:42.referendum on membership of the European Union we hear
:00:43. > :00:44.from the boss of a shoe business in Portugal.
:00:45. > :00:51.Welcome to World Business Report, I'm Sally Bundock.
:00:52. > :00:58.Also in the programme, Walmart is teaming up with the new Chinese
:00:59. > :01:03.partner. We will find out whether it is working. --A new.
:01:04. > :01:08.Well, the OECD is taking a stab at it.
:01:09. > :01:11.Later today it will publish a report that covers internet-related state
:01:12. > :01:13.censorship as well as issues of privacy and surveillance
:01:14. > :01:16.in the wake of the Edward Snowden revelations.
:01:17. > :01:19.The OECD also aims to set the common ground of an Information
:01:20. > :01:21.and Communications Technologies policy for the next decade
:01:22. > :01:22.within the richest countries in the world.
:01:23. > :01:49.With me is Jerry Sanders, an independent analyst.
:01:50. > :01:57.Tell us a bit more about this OECD report, what is it likely to talk
:01:58. > :02:01.about? Every ten years they meet with everybody involved in the
:02:02. > :02:04.Internet, governments, technology companies and what they call
:02:05. > :02:09.stakeholders, those who do this on the Internet. They are trying to set
:02:10. > :02:14.some things that will reassure people that the Internet will be
:02:15. > :02:17.safe to use, available and it has some sort of development strategy
:02:18. > :02:22.that will make it work in ten years time. I feel like they should have
:02:23. > :02:27.done this years ago! Considering how long we've been using the Internet
:02:28. > :02:35.and how prevalent it is around the world. Yes, it has grown without too
:02:36. > :02:38.much regulation or people sending out enormous strategies -- setting.
:02:39. > :02:44.It has gradually disseminated to individual businesses coming up with
:02:45. > :02:52.new ideas. It has brought up lots of very serious issues. We are all very
:02:53. > :02:56.conscious of security and our privacy it can be a good thing but a
:02:57. > :03:07.dangerous thing as welcome as though yes, networks can be good, they can
:03:08. > :03:10.help businesses and make connections, but we also know that
:03:11. > :03:14.there is the dark web, where people can do things out of view of the
:03:15. > :03:19.authorities. But that from a policy view and making that your human
:03:20. > :03:26.right can also be applied when you are on the Internet, that is quite a
:03:27. > :03:30.difficult job. It is also interesting how we feel about
:03:31. > :03:34.privacy now, that will be very different in the future in the sense
:03:35. > :03:39.that people using the Internet now, we just expect privacy. But a new
:03:40. > :03:44.generations will not even think about it? I think that is one of the
:03:45. > :03:48.biggest revolutions that will come, maybe in 50 years. Today, everybody
:03:49. > :03:54.knows that they have a right to privacy. I seriously expect that
:03:55. > :04:00.that will gradually disappear, we won't expect privacy in 50 years'
:04:01. > :04:03.time. There will be so much data about us out there and everyone will
:04:04. > :04:09.have so much access to it, it won't be possible. Thank you for coming
:04:10. > :04:15.in, a fascinating discussion. This report is coming out from the OECD
:04:16. > :04:18.later today advising governments and regulators on that.
:04:19. > :04:22.The world's biggest retailer Walmart is teaming up with the Chinese
:04:23. > :04:25.The move will give Walmart much greater exposure to the Chinese
:04:26. > :04:28.market after its failed attempts last year when it took full control
:04:29. > :04:30.of another struggling e-commerce site.
:04:31. > :04:37.Sharanjit Leyl in our Singapore bureau has been following this.
:04:38. > :04:47.Tell us more about this, Walmart is desperate to get into that market?
:04:48. > :04:54.That's right. The American retailer essentially doing this by selling
:04:55. > :04:59.its online presence in China to Goal Defence .com. They are basically
:05:00. > :05:10.making the sale in exchange for a 5% stake. It is all part of the
:05:11. > :05:17.alliance that aims to explore earned the -- expand Walmart's reach in
:05:18. > :05:23.China -- JD.com. As part of the agreement, JD.com will gain control
:05:24. > :05:25.of the struggling website that you mentioned, while Walmart will
:05:26. > :05:34.continue to operate its direct sales business. It is an e-commerce site
:05:35. > :05:47.that focuses on online grocery sales and caters mainly to affluent female
:05:48. > :05:51.customers. Walmart took full ownership last July, but they have
:05:52. > :05:56.decided to sell that share to JD.com. We saw Walmart shares are
:05:57. > :06:01.rising on Wall Street after that news. Thank you. We will keep you
:06:02. > :06:06.up-to-date on that story as it develops.
:06:07. > :06:09.Just two days to go before UK makes a momentous decision,
:06:10. > :06:11.whether or not to leave the European Union.
:06:12. > :06:13.The EU's shoe industry is worth 24 billion euros
:06:14. > :06:17.One Portuguese shoemaker tells us about his fears that a Brexit
:06:18. > :06:24.could hurt his company and increase the cost of doing business.
:06:25. > :06:32.My name is the Gaelle and I am the managing director. AME Portuguese
:06:33. > :06:39.shoemaker with a band with 175 years of Legacy. Our products are all
:06:40. > :06:44.handcrafted with the best materials, very economic. Traditionally, we
:06:45. > :06:50.sold in our market. In the last years, we have sold abroad in Japan,
:06:51. > :06:58.the United States, Germany and others. The recession in Portugal is
:06:59. > :07:03.very deep, and it is difficult to sell in Portugal. Portuguese people
:07:04. > :07:08.don't have enough money to buy our shoes. We are planning to introduce
:07:09. > :07:13.our shoes in the UK market. It is one of the biggest market in Europe.
:07:14. > :07:19.If you leave the European Union, it is difficult to do business. There
:07:20. > :07:28.are additional cost and the customer's procedures. This will
:07:29. > :07:35.cause delays in the ex- ports. That is one perspective on what a Brexit
:07:36. > :07:39.will mean. -- exports. We have talked to many businesses in the
:07:40. > :07:40.last few weeks. And course there are many leaders
:07:41. > :07:43.of small and medium size businesses who argue the UK leaving
:07:44. > :07:46.Europe is the best option. To hear all the views go
:07:47. > :07:48.to the BBC Business webpage, In other news: George Soros has
:07:49. > :07:51.warned of "serious consequences" for British jobs and finances
:07:52. > :07:53.if the country leaves He says sterling would "decline
:07:54. > :07:59.precipitously" if the Leave camp He made a fortune betting
:08:00. > :08:09.against the pound on Black Wednesday in 1992, when Britain left
:08:10. > :08:11.the European Exchange Rate Mechanism and said Brexit would cause
:08:12. > :08:17.even bigger disruption. Vote Leave said George Soros
:08:18. > :08:20.was a long standing advocate of Britain joining the euro
:08:21. > :08:22.and of giving further control Former Volkswagen boss
:08:23. > :08:28.Martin Winterkorn is under investigation in Germany for alleged
:08:29. > :08:34.market manipulation. German prosecutors have
:08:35. > :08:35.accused Mr Winterkorn, and another former board member,
:08:36. > :08:37.of withholding information from investors about
:08:38. > :08:49.VW's emissions scandal. Mr Winterkorn resigned last
:08:50. > :08:50.September following revelations the firm cheated US diesel
:08:51. > :08:52.car emissions tests. But VW said the prosecutors have
:08:53. > :08:55.offered "no new facts The aviation industry could be one
:08:56. > :08:58.of the biggest beneficiaries of changes to India's strict
:08:59. > :09:00.foreign investment rules. The government has announced it
:09:01. > :09:02.will allow 100% foreign ownership of airlines and of some
:09:03. > :09:07.defence businesses too. And, for foreign firms
:09:08. > :09:09.trying to get into retail, there's respite from a rule that
:09:10. > :09:29.required 30% of what they sold to be That is a story we will discuss in
:09:30. > :09:45.further detail when we discuss the day's papers this morning.
:09:46. > :09:55.This is how things ended on Wall Street. The pound strengthened
:09:56. > :09:59.massively. Markets are very sensitive to the decision on
:10:00. > :10:01.Thursday. We will talk about that in more detail in just a moment. See
:10:02. > :10:11.you then.