19/08/2016

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:00:00. > :00:18.Linking in to the $26 billion gamble.

:00:19. > :00:21.Microsoft shareholders get to vote on whether they want to buy

:00:22. > :00:25.the professional networking site, LinkedIn.

:00:26. > :00:27.But, really, where is Microsoft going with this?

:00:28. > :00:30.Because I can tell you its recent takeovers haven't exactly

:00:31. > :00:40.Find out how cab drivers in Mumbai India are striking back

:00:41. > :00:48.against the wave of ride sharing apps.

:00:49. > :00:53.Microsoft shareholders are voting today on whether to approve a $26

:00:54. > :00:55.billion deal to buy the social network, LinkedIn.

:00:56. > :00:58.Microsoft is betting heavily that LinkedIn will secure its place

:00:59. > :01:00.in a world after Windows, but will it work?

:01:01. > :01:02.Microsoft's best-known brands are Windows, Office and Xbox.

:01:03. > :01:08.Many of these products are beginning to fade as consumers turn

:01:09. > :01:12.How can LinkedIn help ensure Microsoft's future survival?

:01:13. > :01:14.LinkedIn has about 433 million members, with 105 million using it

:01:15. > :01:17.Crucially, 60% of usage is on mobile devices.

:01:18. > :01:19.In buying LinkedIn, Microsoft gets a ready-made platform

:01:20. > :01:22.to run its business on other people's computers in the cloud.

:01:23. > :01:29.But LinkedIn has made losses for the last two years.

:01:30. > :01:32.Earlier this year, shares fell more than 40% in one day,

:01:33. > :01:35.after it unveiled gloomy annual forecasts, but the share price

:01:36. > :01:36.rebounced following news of the Micosoft deal.

:01:37. > :01:41.Microsoft has a mixed record on big-money acquisitions.

:01:42. > :01:43.In 2011 it bought the voice-over-internet business,

:01:44. > :01:46.It's unclear if that has paid off yet.

:01:47. > :01:49.Then, in 2013, it bought Nokia's mobile phone unit for $7.2 billion.

:01:50. > :02:23.Look at that. Look at that dip. That is in one day. 40%. Off a cliff!

:02:24. > :02:32.It's sort of bounced back to my though. It rebounded when it was

:02:33. > :02:39.found at Microsoft wanted to buy them.

:02:40. > :02:40.Microsoft has a mixed record on big-money acquisitions.

:02:41. > :02:42.In 2011 it bought the voice-over-internet business,

:02:43. > :02:45.It's unclear if that has paid off yet.

:02:46. > :02:48.Then, in 2013, it bought Nokia's mobile phone unit for $7.2 billion.

:02:49. > :03:01.With me, Cyrus Mewawalla, Managing Director at CM Research.

:03:02. > :03:13.I didn't get that right, did I. LAUGHING. Thank you for coming in. I

:03:14. > :03:17.am LinkedIn, you are Microsoft. I am LinkedIn. I am struggling to make a

:03:18. > :03:23.profit, I am struggling to make money out of my current users and

:03:24. > :03:28.get more. So, write me a cheque. Really? As Microsoft, they have

:03:29. > :03:32.missed the biggest thing in technology for the last decade, the

:03:33. > :03:39.mobile phone. What they need to do now is right the next big technology

:03:40. > :03:42.cycles of. That his artificial intelligence, big data, the cloud,

:03:43. > :03:47.all that on the Internet. What LinkedIn gives Microsoft is two of

:03:48. > :03:56.these, social media and collaborative working and social

:03:57. > :04:05.media technology. You said it. Microsoft is linked to the game and

:04:06. > :04:15.they are late to it as well. But are they getting an older product so to

:04:16. > :04:24.speak? I do think so. As fashion and ELA -- Sachin Nade says, LinkedIn is

:04:25. > :04:26.the leader of networks. They have millions of professionals on the

:04:27. > :04:32.network to spend a lot of money. If you divided by 400 million users the

:04:33. > :04:35.money spent on it isn't a light considering they will spend a lot of

:04:36. > :04:42.money. So Microsoft is just getting a big call list? Not at all. It says

:04:43. > :04:46.it will let LinkedIn run autonomously but if it links the

:04:47. > :04:52.datasets of 400 million people then the software and dynamic customer

:04:53. > :04:54.management software will work better with things like artificial

:04:55. > :05:00.intelligence is telling me what is... You know, what the data

:05:01. > :05:09.LinkedIn tells me. Past acquisitions of Microsoft, big money acquisitions

:05:10. > :05:12.of the new boss, Sachin, sorry, it is early in the morning, I couldn't

:05:13. > :05:19.remember it, they haven't been successful. They haven't been

:05:20. > :05:28.successful really. That was under previous management. What I was

:05:29. > :05:34.talking about. Nokia, Skype. Under Sachin's leadership this is the big

:05:35. > :05:37.one. OK. So far, Sachin has completely turned around Microsoft.

:05:38. > :05:43.His strategy is to take it to the Cloud. That is a big risk. Microsoft

:05:44. > :05:49.is still the third largest tech company after Apple and Alphabet.

:05:50. > :05:59.The third largest company, because they are all technology one's. OK.

:06:00. > :06:03.Good to see you. Thank you for coming in and have a good weekend.

:06:04. > :06:04.It was a pleasure. We will keep across that deal.

:06:05. > :06:07.In the latest twist to the ongoing corruption scandal surrounding

:06:08. > :06:10.Malaysia's state fund 1MDB, there's been an arrest in Abu Dhabi.

:06:11. > :06:13.Let's get the latest from Mariko Oi in our Asia Biz hub in Singapore.

:06:14. > :06:20.A horrible name, that is. There has been an arrest. Good to see you. I

:06:21. > :06:25.think for the uninitiated, watching here and around the world, this

:06:26. > :06:36.Malaysia state fund set up in 2009 has had a lot of controversy around

:06:37. > :06:39.Ms -- misappropriated spending and the Prime Minister. What is going on

:06:40. > :06:46.now? As you mentioned, the arrest took place in Abu Dhabi where there

:06:47. > :06:49.is an ongoing investigation. There are at least one dozen

:06:50. > :06:54.investigations around the world on IMDB, including here in Singapore

:06:55. > :06:59.and the United States where authorities are seeking to seize $1

:07:00. > :07:06.billion in asset. The person that was arrested in Abu Dhabi is

:07:07. > :07:10.believed to be one of the key figures who might have got some

:07:11. > :07:14.money from IMDB and used it inappropriately. Pratley,

:07:15. > :07:18.investigators are trying to determine if he used it to buy the

:07:19. > :07:24.world's fifth biggest yacht. That arrest took place in the latest

:07:25. > :07:27.twist as you mentioned. Are should mention that both IMDB and the

:07:28. > :07:33.Malaysian Prime Minister denied any wrongdoing. I know you will keep

:07:34. > :07:35.across that and so will we and we will update everyone on the latest.

:07:36. > :07:39.Thank you. Marika Oi joining us. Now, ride sharing company Uber has

:07:40. > :07:43.been in the headlines a lot lately. On Thursday, it announced that

:07:44. > :07:45.people in Pittsburgh will be able to summon, and ride,

:07:46. > :07:48.in self-driving cars just a few But in India, the battlelines

:07:49. > :07:51.between traditional taxi services and the tech giant are drawn along

:07:52. > :07:53.more traditional competitive lines, as Samir Hashmi now

:07:54. > :08:26.reports from Mumbai. For more than half a century, and

:08:27. > :08:33.by's taxis have driven the roads of the city. -- Mumbai's. But they have

:08:34. > :08:38.a problem. Instead of hailing a ride in a traditional cab, most are using

:08:39. > :08:43.smartphones to make a booking through Uber or one of its Indian

:08:44. > :08:47.rivals. This man used to earn about $400 a month. But for the last

:08:48. > :08:53.couple of years he has seen his income almost half. And so drivers

:08:54. > :08:58.like him are hoping that their fortunes can be reversed with an

:08:59. > :09:01.application of their own which lets customers book a black and yellow

:09:02. > :09:06.taxi from this smartphone. TRANSLATION: It is the age of

:09:07. > :09:09.technology. So even we have to use it to survive in the market.

:09:10. > :09:15.Hopefully this will let us get all customers. Uber claims that nearly a

:09:16. > :09:23.third of its drivers in India used to buy their trade in black and

:09:24. > :09:27.yellow taxis and rickshaws. -- ply. It is also offering financing deals

:09:28. > :09:33.so workers can buy their vehicle and use them. Black and yellow taxis are

:09:34. > :09:41.rough too old or uncomfortable to travel in. But this one has nice

:09:42. > :09:47.damaged seats and the window doesn't work. That is why people are booking

:09:48. > :09:52.air-conditioned cars. The survival of black and yellow taxis will

:09:53. > :10:01.depend on embracing technology introduced by rivals but also

:10:02. > :10:07.standards. BBC News, Mumbai. There you go. Tweet me and I will tweet

:10:08. > :10:08.you back. I will be back later to take on the news stories of the

:10:09. > :10:21.world. Goodbye for now. He will join me shortly to look at

:10:22. > :10:28.the international headlines. The weekend dash for the last Tube

:10:29. > :10:33.is soon to be a thing of the past.