17/10/2016 World Business Report

sorry about the problem with the pictures. So to have personal

problems, it is always many. Of -- Sally never seems to have those

problems, it is always me. The business world's big bosses

signal it's time for takeovers with a near record level looking

for businesses they can snap up. Desperately trying to engineer

a future with more engineers in it. A report out today says

the profession could become extinct in the UK unless something

radical is done. Also in the programme we'll be

bringing you the latest on 18 arrests in China linked

to an Australian gambling giant. But first, more than half of senior

bosses in the world's biggest firms are actively looking for takeover

targets in the coming months. That's the conclusion of the latest

survey by the professional services Despite growing concerns driven

by nationalist and anti-trade rhetoric, EY says a near record

number of companies are looking to grow through merging

with or by taking over their rivals. EY says a near record

number of companies, Sharanjit Leyl joins

us now from Singapore. Interesting findings. Tell us more.

Very interesting indeed. As you set a record number of companies, some

57% are looking to merge and grow by taking over their rivals.

Interestingly, bosses say they expect almost half of the group to

be inorganic which means that companies want to generate growth by

purchasing other companies rather than expanding their business.

Reporters have found almost one thought of those one third of those

asked thought it was due to political instability with one

executive citing the rise of populist parties as a growing

concern. The UK dropped out of the best location for business for the

first time in five years as fears about Brexit added to complexity

about international deals. British businesses ranked behind investments

in the US China Canada Germany and France. They make up the top

destinations. The wires saying in their latest report that this is

based on a survey of over 1700 executives in 45 countries. They did

the survey in August and September and over 90% of executives say they

expect the market to remain stable over the next year. They were also

concerned about China because they were saying that they are waiting to

see what attempts there are as China attempts to rebalance its economy,

they want to see how that pans out before they go into that market.

Thank you very much. Quite interesting and another emerging

story is the fact that shares in Crown resorts in Australia has

fallen by over 12%, 13% actually after it reported that 18

of its staff including a senior executive have been detained

According to reports the arrests are possibly linked to a move

by China to go after foreign casinos that attempt attract Chinese

citizens overseas to gamble, which is against the law

let's look at the market right now. The All Ordinaries, the main market

in Australia, you can see it is down slightly. Crown are down

significantly some 15% but also across the board in Asia other

gambling stocks have been really hit by this leading gaming stocks they

are all lower amid concerns of a fresh Chinese crackdown. Markets in

general have been mixes well with the Federal reserve the focus for

many markets as well. Engineering is facing

extinction in the UK, according to a report published

today by the Royal Academy of They says that the country's

engineering sector relies heavily on foreign talent and within the UK,

there simply aren't enough qualified and experienced individuals

to meet demand. Engineering-related sectors

contribute ?280 billion pounds - that's $343 billion dollars -

to Britain's economy. These sorts of businesses employ

five point five million people around the country and account

for half of all exports. Last year the Royal Academy

of Engineering warned the sector needed at least a million

people by 2020 to keep And the problem is endemic

right across Europe. In Germany - the biggest EU economy

- about 10,000 more engineers It's shortfall that's set to triple

in the next decade. So, how can Britain compete

and remain an attractive place to work as it negotiates its exit

from the European Union? I am joined by the deputy chief

executive of the Royal Academy of engineering which produced this

report. Thank you for coming in. This sounds like a crisis. Yes.

There is a skills crisis for certain and what this report fixes on is

that the decision to leave the EU, while the present opportunities will

present a challenge to us in terms of being able to continue to meet

our skills needs. This report represents the collective voice of

35 professional engineering organisations, the ones that

represent UK engineering, and it is an unprecedented collaboration we

have come together because we believe it is important at this time

that the government has access to expertise and engineering plays an

important part in supporting our economy so we have come together to

make sure we can support that correctly. I must admit that when I

read the information surrounding the report I thought I had heard this

before. We are not attracting children who are at school who then

go on to university to become new engineers. We are just not

channelling young people into that profession for some reason. Why is

that? We hope that the imperative provided by the decision to leave

the EU in the impact it could have on skills, combined with the

development of the new industrial strategy will provide us with an

opportunity to take decisive action to tackle what is, as you point out,

a problem. Up to now we have not had decisive action. We have been

building towards that the now we have momentum behind us. The way in

which we are playing our part in ensuring that happened to screw the

engineering talent programme urges end to industry led project across

the profession to try and bring about the change in the

attractiveness of engineering, looking at perceptions in the wider

public because we now you don't influence the influences even if you

attract young people into stem careers they may not go on to choose

the right subjects and they will not choose those careers in the

long-term. So it is a cultural issue? Yes. We recently commissioned

a report that compared engineering at across the world and it showed

that the UK was significantly behind in terms of thing for gender

diversity. We could talk for hours about this but we do not have the

time. Think is so much for coming in. There is more on that online.

But now we have to talk about digging and I do not mean the

playing and the band. I am talking about the gigging economy. The

growth of companies like uber and Airbnb have led to an explosion of

people making a living through gigs. Up to 162 million people earn income

for independent work and so-called gigs. They actively choose, 30% of

them, actively choose independent workers arrive or income from it.

The other 70% are casual owners, people who would prefer traditional

jobs. And while many people lack of flexibility, gigging workers get

none of the other benefits such as career progression sick pay or

benefits. All this week we will hear the personal stories of workers and

entrepreneurs who are driving this sector of the global economy. We

start today in India with Sajid who gigs for a living to help busy

people in Mumbai. In a city like Mumbai time is more precious than

money. What I like most about my job is how we save people time. My name

is so cute, I am 25 years old and I work for rush. Russsh runs errands

for people. If somebody forget something at home or needs a

document delivered or cheque deposited in the bank, we get it

done. For example today I am going to deliver food to a customer for

one of her clients. Basically I am helping her run her business. When

we are out on deliveries of the traffic is a problem. It can make us

late. My family and friends do not think this job is that secure. They

do not like it because they do not understand this industry. I think my

future is promising because growth depends on performance and

efficiency. Today I am at team player but wonder how could be

accepted as a team. There is a lot of competition with good performance

people like me can go. That is the World Business Report. See you soon.