:00:18. > :00:21.Brexit, protectionism, currency wars, finance heads
:00:22. > :00:25.have a full in-tray as they arrive in China for the G20 summit.
:00:26. > :00:28.The head of Fox News Roger Ailes resigns following accusations
:00:29. > :00:30.of sexual harassment, company boss Rupert Murdoch takes
:00:31. > :00:39.over in the hopes of stabilising his media empire.
:00:40. > :00:47.Welcome to World Business Report, I'm Sharnjit Leyl.
:00:48. > :00:49.Following a turbulent few weeks, central bankers and finance
:00:50. > :01:00.ministers from 20 of the world's major economies are meeting in
:01:01. > :01:03.And they'll have a lot on their plate.
:01:04. > :01:05.Following Britain's decision to leave the EU,
:01:06. > :01:07.the International Monetary Fund nudged down its forecast
:01:08. > :01:11.So far, central banks in Europe and the UK have kept policy on hold,
:01:12. > :01:13.until they have a better economic picture.
:01:14. > :01:15.Across the pond, Donald Trump has been officially nominated
:01:16. > :01:22.as the Republican candidate for the US Presidential election.
:01:23. > :01:25.The billionaire businessman has vowed to impose hefty tariffs
:01:26. > :01:26.on Chinese imports, which could spark retaliation
:01:27. > :01:30.from Beijing, and bring about an all-out trade war.
:01:31. > :01:33.I'm joined now by Charles Pittar, Chief Executive of Juwai.com,
:01:34. > :01:35.one China's largest property portals, connecting Chinese buyers
:01:36. > :01:51.We know that yours is a property firm, how much are we seeing Chinese
:01:52. > :01:57.demand for overseas property impacted by the events of the last
:01:58. > :02:03.few weeks? Good question. It is interesting, we did a survey prior
:02:04. > :02:09.to the Brexit result and we interviewed approximately 400 real
:02:10. > :02:15.estate professionals in China and approximately 40 in the UK. The
:02:16. > :02:18.results of the survey suggested that the Chinese, from a Chinese
:02:19. > :02:24.perspective, they were probably going to hold off on any investment
:02:25. > :02:30.decisions until after the Brexit vote. Indications were that the
:02:31. > :02:35.Chinese were more interested in UK property than before. The picture
:02:36. > :02:39.painted by the domestic UK audience that was interviewed agree with
:02:40. > :02:43.that. We have seen since the result of the Brexit that that has played
:02:44. > :02:49.out. In the last few weeks we have had more enquiries into loans in
:02:50. > :02:57.China than we have seen for the duration of this year, so the last
:02:58. > :03:00.four weeks have seen it leading up to 40%, a clear indication that the
:03:01. > :03:07.Chinese are very interested in the UK and the post Brexit result has
:03:08. > :03:14.seen the demand increase. Taking a look at the US is now, Donald
:03:15. > :03:19.Trump's confirmation as the Republican nominee, how do you think
:03:20. > :03:22.relations will change with China when you take into account his anti-
:03:23. > :03:31.China rhetoric in his speech? Is there a fear amongst Chinese
:03:32. > :03:38.investors that if Trump is elected, there may be issues with foreign
:03:39. > :03:43.investments? It is a complex issue and answer. When we look at the
:03:44. > :03:48.demand from our property portal in China globally, the US is the
:03:49. > :03:53.biggest market. 40% of the enquiries we get up for the US market. It is a
:03:54. > :03:57.global market. If there are indications, any of the countries we
:03:58. > :04:01.are dealing with internationally, that they are less proactive and
:04:02. > :04:05.less keen on the demand from China, it could have an impact. When you
:04:06. > :04:10.look at what is happening with the G20 and the fact that you have a
:04:11. > :04:15.number of UK officials in China at the moment, essentially saying that
:04:16. > :04:22.the UK is open for business, that sends a very positive message. So
:04:23. > :04:28.the countries are potentially sending a good message, if the US
:04:29. > :04:32.send a negative message, that could have an impact. We will be watching
:04:33. > :04:36.very carefully. Thank you for joining us.
:04:37. > :04:39.After a newspaper scandal in Britain, Rupert Murdoch is facing
:04:40. > :04:43.This man here, the brainchild behind Fox News, Roger Ailes has resigned
:04:44. > :04:45.following accusations of sexual harassment by a number
:04:46. > :04:48.Mr Ailes did not give a reason for stepping down as CEO,
:04:49. > :04:57.saying only that he'd become a 'distraction'.
:04:58. > :04:59.He's likely to leave with a $40 million pay
:05:00. > :05:01.package, and Mr Murdoch himself, who owns parent
:05:02. > :05:04.company 21st Century Fox will take over as acting Chief
:05:05. > :05:14.I'm joined now by Joe Flint from the Wall Street Journal,
:05:15. > :05:24.What does the departure mean for Fox, especially as it comes today of
:05:25. > :05:29.all days, the last day of the Republican National Convention? We
:05:30. > :05:34.know that Fox is very much a rightleaning, conservative channel.
:05:35. > :05:39.Today ideally would have been a great day for Fox News, huge ratings
:05:40. > :05:44.tomorrow because of the coverage of the Trump speech. Instead, they are
:05:45. > :05:47.very distracted by the sudden departure of their leader and a
:05:48. > :05:55.sickly the only leader they have ever known. His departure will be a
:05:56. > :06:00.huge blow for the channel. The organisation is all about him, he
:06:01. > :06:05.put it together, knows where all the bodies are buried, and it will be
:06:06. > :06:10.very tough to replace Roger Ailes, when over the loyalty of the people
:06:11. > :06:15.he has in place. There is going to be a seismic change at the channel
:06:16. > :06:23.in the next few years. What does it tell us about the fact that Rupert
:06:24. > :06:28.Murdoch is stepping in in terms of how he views the importance of Fox
:06:29. > :06:33.News? You're correct. Rupert Murdoch's decision to take over the
:06:34. > :06:37.CEO and chairman role is a smart one. I think he is trying to send a
:06:38. > :06:41.message to the Fox News team about how important the channel is to him,
:06:42. > :06:46.that he is aware of what a big deal it is for Roger Ailes not to be
:06:47. > :06:50.there and that his hand is still on the steering wheel. I don't know how
:06:51. > :06:54.actively involved he will be in the day to day decision-making,
:06:55. > :06:59.obviously he has a large company to run. IT will certainly be more
:07:00. > :07:04.involved than he had been in recent years. The channel had been doing so
:07:05. > :07:11.well. I don't want to suggest he runs on autopilot, it is a very big
:07:12. > :07:14.operation. But with Roger they are, everybody knew their role and how to
:07:15. > :07:21.execute it. I think that Rupert hopes to bring that as well. Just
:07:22. > :07:25.quickly, it is funny you say that Mr Murdoch wants to be seen as being at
:07:26. > :07:29.the steering wheel. We are seeing lots of commentary because of this
:07:30. > :07:35.incident that he is somehow losing control of his media empire? I think
:07:36. > :07:43.that is more because of the roles he has given to his sons, Laughlan and
:07:44. > :07:53.James. Laughlan is a German and James is the chief executive. Roger
:07:54. > :07:56.Ailes and Fox News were kind of a separate area within the company.
:07:57. > :08:01.They generate so much money that nobody was going to mess with them.
:08:02. > :08:04.I think there has been a lot of thought that James and Laughlan
:08:05. > :08:09.don't share the same loyalty to Roger Ailes that Rupert does, and
:08:10. > :08:15.might have been more aggressive about wanting to bring their scandal
:08:16. > :08:20.to an end quickly. I would also add to that in a time of tremendous
:08:21. > :08:25.change and disruption in the media industry, Fox News is the one thing
:08:26. > :08:31.that 21st-century Fox can rely on to deliver huge profits. Thank you for
:08:32. > :08:35.joining us. Now, Pokemon Go, the little app that
:08:36. > :08:50.could, Mariko Oi is in our Asia Tell us more? Japanese fans have
:08:51. > :08:55.been waiting for it and finally this morning it was launched. As a
:08:56. > :09:00.result, shares of Nintendo have recovered somewhat. They doubled,
:09:01. > :09:05.more than doubled since the launch of the game, but in recent days we
:09:06. > :09:14.have seen profits fall. But today profits rose by 6%. The rest of the
:09:15. > :09:19.Japanese markets are down, taking their cue from Wall Street. Other
:09:20. > :09:23.shares, such as McDonald's Japan which are a partner with Nintendo,
:09:24. > :09:46.their shares are trading higher as well. You have been watching World
:09:47. > :09:49.Business Report, stay with us. Before we look at the papers, let's
:09:50. > :09:51.fill you in on some UK stories. Banking on mobile apps has overtaken
:09:52. > :09:55.all other forms of banking combined.