:00:00. > :00:00.Those are the latest headlines from BBC World News.
:00:00. > :00:00.Now for the latest financial news with Sally and World Business
:00:00. > :00:23.Theresa May becomes the UK's Prime Minister today,
:00:24. > :00:26.but will she be able to steer the world's fifth biggest economy
:00:27. > :00:38.And running for longer than before - as a three minute advert goes
:00:39. > :00:41.viral in india, we look at the growing apatite
:00:42. > :00:52.Also in the programme: What does Hong Kong's Financial Secretary
:00:53. > :01:01.As you've been hearing, today the UK will get its first
:01:02. > :01:08.Prime Minister Theresa May faces the difficult task of renegotiating
:01:09. > :01:10.Britain's relationship with the European Union and bringing
:01:11. > :01:12.together the country after a hard fought referendum.
:01:13. > :01:16.So what can Mrs May expect to find at the top of her economic to do
:01:17. > :01:21.list when she is sworn in later today?
:01:22. > :01:24.First off she will need to reassure the markets about the state
:01:25. > :01:32.The pound has rebounded slightly in the last 25 hours,
:01:33. > :01:35.but is still close to a record low against the US dollar,
:01:36. > :01:37.as currency traders react to ongoing uncertainty
:01:38. > :01:47.She will also now need to decide what sort of economic
:01:48. > :01:50.relationship she wants the UK to have with the EU,
:01:51. > :02:03.At the forefront of the negotiations will be whether to accept or reject
:02:04. > :02:07.any type of deal that that involves an agreement on the free movement
:02:08. > :02:09.of people in exchange for tariff free access to the EU's
:02:10. > :02:12.She will also have to mastermind new trade deals
:02:13. > :02:24.with 50 nations that currently have agreements with the EU,
:02:25. > :02:29.and pro-Brexit economists argue the UK will be able to get better
:02:30. > :02:32.deals and some are planning to set out their economic plans.
:02:33. > :02:36.With me now is one of those economists, Ryan Bourne,
:02:37. > :02:39.head of Public Policy at the free market think tank,
:02:40. > :02:49.You have a busy day as you set out your argument for UK economy that
:02:50. > :02:54.isn't really intertwined with the EU at all. Is that correct? The
:02:55. > :02:59.government can now decide to remain in the single market, which would
:03:00. > :03:05.mean giving up control of migration, giving up control of economic
:03:06. > :03:12.regulation. All we could decide to withdraw from the single market,
:03:13. > :03:17.trade under the WTO rules. That will be moving towards unilateral free
:03:18. > :03:21.trade, unilaterally stripping away tariffs from the EU and around the
:03:22. > :03:30.world. How would that impact companies based in the UK who are
:03:31. > :03:34.not necessarily the most competitive or who are supported by subsidies,
:03:35. > :03:45.that kind of scenario? It would have a huge impact on many businesses if
:03:46. > :03:48.we did that. There would be more global competition in markets, which
:03:49. > :03:52.would be like a big tax cut for the economy, let alone the impact of
:03:53. > :03:58.that greater competition overtime leading to greater productivity.
:03:59. > :04:01.Certain companies would face more competition, but that can be a good
:04:02. > :04:04.thing and if competition at a European level is a good thing then
:04:05. > :04:08.competition at a global level is an even better thing. The government
:04:09. > :04:12.could choose to make transitional arrangements to ease the pressure on
:04:13. > :04:20.certain sectors, the agricultural sector, some manufacturing. Some
:04:21. > :04:25.cars might come to a deal with the EU. But many do recognise the
:04:26. > :04:28.benefits of free trade. Global competition, there is a debate over
:04:29. > :04:32.whether that's good or bad, but if it was to work in a kind of fare
:04:33. > :04:38.playing field internationally than some would argue it could be a good
:04:39. > :04:42.option. The problem is it isn't a fair playing field, is it? Countries
:04:43. > :04:46.play by different rules. Some countries protect their industries,
:04:47. > :05:00.some countries perhaps flood the global market with subsidies. At the
:05:01. > :05:04.issue, whether to have no restrictions, or no access to the
:05:05. > :05:08.single market. That could be difficult for issues in the UK. From
:05:09. > :05:12.an economic perspective the evidence is clear. The people who pay for
:05:13. > :05:16.protection, and the projection is regarded as a bad thing by
:05:17. > :05:21.economists, the people who pay are the consumers. Our agenda is very
:05:22. > :05:27.much proconsumer. If China wants to subsidise... Don't name names, by
:05:28. > :05:32.the way. If China wants to subsidise the production of cheap steel it
:05:33. > :05:37.means we can consume steel more cheaply. Governments can come to
:05:38. > :05:40.some sort of conditional arrangement. They can protect
:05:41. > :05:43.certain strategic industries if they think that something they need to
:05:44. > :05:49.do, but our starting point should be free trade. We appreciate your time.
:05:50. > :05:52.Thank you very much. It is a hot debate and of course we shall see
:05:53. > :05:57.how this plays out in the coming days when the recent make announcers
:05:58. > :05:59.who has got the top jobs in her cabinet. Moving on.
:06:00. > :06:02.The Financial Secretary of Hong Kong has told the BBC more needs to be
:06:03. > :06:04.done to restore confidence in international markets
:06:05. > :06:06.following Britain's decision to leave the European Union.
:06:07. > :06:09.In Asia, Hong Kong is thought to be most at risk from the prospect
:06:10. > :06:13.of Brexit and speaking to the BBC John Tsang said the UK needs
:06:14. > :06:16.to reach out to countries around the world to reassure them post
:06:17. > :06:29.Certainly with the referendum decision, what we have now is not
:06:30. > :06:37.big on confidence. So I think that needs some repair. I think for one
:06:38. > :06:46.thing perhaps they should do more roadshows. Going around the world to
:06:47. > :06:49.assure people that the market in the UK will continue to operate in a
:06:50. > :06:55.normal way. I think that sort of assurance is important. But the
:06:56. > :07:00.world is in a difficult position and now the Brexit has become a reality
:07:01. > :07:02.we will have to watch closely, what the other will contribute.
:07:03. > :07:08.Rico Hizon joins us with all the details.
:07:09. > :07:15.Very interesting to get his take on Brexit.
:07:16. > :07:22.Yes. A lot of analysts say he is a bit pessimistic about the impact of
:07:23. > :07:26.Brexit on Hong Kong, recalls -- because almost everybody has an
:07:27. > :07:33.impact. Some say it will impact the economy, others say it will have on
:07:34. > :07:36.-- and minimal effect. But there are many who say it will affect Hong
:07:37. > :07:48.Kong less than mainland China and none of the existing scenarios
:07:49. > :07:51.suggest that this association would affect another global financial hub.
:07:52. > :07:55.Evidence is currently suggesting that Brexit will do nothing more
:07:56. > :08:00.than slightly accelerate trends, such as the further opening of doors
:08:01. > :08:07.for the city's law firms and the investment banks. Brexit will help
:08:08. > :08:11.Hong Kong elite is used Brexit as an opportunity to work with British
:08:12. > :08:17.colleagues, for legal and financial services in Europe and outside that
:08:18. > :08:22.EU law. So we will have to wait and see how this all plays out and what
:08:23. > :08:28.impact it will have in Hong Kong and on other Asian economies when it
:08:29. > :08:29.happens. Thanks a lot. Good to see you.
:08:30. > :08:32.How do you react when you're browsing the internet on your phone
:08:33. > :08:35.Do you flick away from the commercial, or watch?
:08:36. > :08:38.Well, if you're in Asia, it's highly likely you'll watch
:08:39. > :08:42.An advert by sportswear firm Nike has gone viral in India,
:08:43. > :08:45.racking up over two million views in just one day and it's part
:08:46. > :09:23.It is really storytelling. It is very natural. It is authentic. So
:09:24. > :09:27.that type of content, whether it's a TV drama or ads, if it's a great
:09:28. > :09:30.piece of content that connects with you audiences and users are choosing
:09:31. > :09:56.to watch that. Inspiration is one of the key trends
:09:57. > :10:00.that brands want to get on top of and inspiring people to do great
:10:01. > :10:04.things or take part in great things and that often takes the form of
:10:05. > :10:09.thing for travel. A third-party study that was done last year found
:10:10. > :10:13.that combining television causes you to increase rand recall and
:10:14. > :10:19.awareness as well. So it is proving to be effective. It is also creating
:10:20. > :10:24.a finicky, so you do see across social media a lot of activity when
:10:25. > :10:29.great use of content resonates with users. -- creating affinity. They
:10:30. > :10:43.will then start talking about it and sharing it.
:10:44. > :10:54.An interesting trend. That's all from World Business Report.
:10:55. > :10:58.Doctors and other healthcare staff in England are being told they must
:10:59. > :11:03.treat sepsis with the same urgency as a suspected heart attack.