:00:00. > :00:15.Sally is sitting right next to me. You can't see her yet.
:00:16. > :00:19.The French capital attempts to romance business away from London
:00:20. > :00:28.Shares of Netflix have surged 20% in after hours trading as market
:00:29. > :00:30.watchers binge on the streaming giant's skyrocketing membership
:00:31. > :00:48.In a minute, we'll have the latest on the gold plated carrot that
:00:49. > :00:50.Hollywood directors are being offered to make
:00:51. > :00:57.It is no secret that Paris is trying to woo business away from London
:00:58. > :01:00.after the Brexit vote in June raised questions about the future dominance
:01:01. > :01:02.of London as Europe's financial capital.
:01:03. > :01:16.Reads the ad that La Defense business district in Paris hopes
:01:17. > :01:27.There are warnings the city of London could lose
:01:28. > :01:30.its position as the only financial capital to rival New York,
:01:31. > :01:32.if foreign banks decide to move across the channel.
:01:33. > :01:35.London currently accounts for 41% of global foreign exchange
:01:36. > :01:37.turnover, that is more than double New York,
:01:38. > :01:39.so says the Bank for International Settlements.
:01:40. > :01:41.About 85% of Europe's hedge fund assets are managed
:01:42. > :01:44.in London, which also happens to be the leading market for international
:01:45. > :01:51.Frankfurt is putting itself forward as a "financial services bridge"
:01:52. > :02:01.between London and the European Union.
:02:02. > :02:05.And so are several other cities in Europe.
:02:06. > :02:08.With me now is Marie-Celie Guillaume the Chief Executive of Defacto,
:02:09. > :02:14.who manage La Defense, the business district of Paris.
:02:15. > :02:22.Good morning. Good morning. Welcome to the programme. We saw the poster,
:02:23. > :02:28.which will grab everybody's attention. Why does Paris have the
:02:29. > :02:35.aid? Paris has the best business edge. We have the best combination
:02:36. > :02:40.of both soft and hard factors. The Paris business district, La Defense,
:02:41. > :02:47.is the first European business district with a lot of offers
:02:48. > :02:52.capacity. We are able today to have new staff members if they decide to
:02:53. > :02:58.come to Paris. We have a thriving business ecosystem which is very
:02:59. > :03:05.international. Half of the 500 companies based in La Defense are
:03:06. > :03:09.international. 35% of them are already working in banking and
:03:10. > :03:12.finance. Many of the business leaders I talk to, and some in
:03:13. > :03:18.financial and legal services, who are thinking about relocating, are
:03:19. > :03:23.not considering Paris, they are thinking of Dublin, Frankfurt, even
:03:24. > :03:29.Luxembourg. France is not on their radar because of how stringent the
:03:30. > :03:33.labour laws are and how difficult it is to do business compared to other
:03:34. > :03:39.European cities. It is not difficult to do business in France. For
:03:40. > :03:46.instance, the Paris region is the best region for start-ups. It is a
:03:47. > :03:52.known fact that the labour laws are very draconian compared to other
:03:53. > :03:57.cities. They are. It will change this year because the labour laws
:03:58. > :04:01.were changed before the summer. Today, there is a wide understanding
:04:02. > :04:05.and consensus between the Socialist Party and the Conservative Party
:04:06. > :04:09.that things have to be more flexible for high salaries and basically the
:04:10. > :04:15.financial jobs in order to be able to hire them quickly and fire them
:04:16. > :04:19.quickly. What about the fear factor as well. People considering
:04:20. > :04:23.security. France has had a very difficult couple of years and is
:04:24. > :04:28.terrible tragedies in Paris and other cities as well in and around
:04:29. > :04:33.France. Have you thought about that in your campaign to bring people to
:04:34. > :04:36.Paris? Seriously, we think that terrorism is a problem.
:04:37. > :04:41.Unfortunately it is everywhere, in every capital. And not even in just
:04:42. > :04:46.the capitals, it can happen in any small town. It is a problem that
:04:47. > :04:51.every city is facing. And in terms of your hope to ring in people, how
:04:52. > :04:59.will you compete with the likes of Frankfurt? What is your selling
:05:00. > :05:06.point? Where would you rather live? Paris or Frankfurter? It is not only
:05:07. > :05:10.living, but good healthcare, education for children, equality,
:05:11. > :05:15.Paris has all of that. All right. We have run out of time. But thank you
:05:16. > :05:20.so much for coming in. And we shall see what happens and we will see
:05:21. > :05:22.where everyone goes and report on it if and when it happens.
:05:23. > :05:25.Netflix has shaken off growth worries with new subscriber numbers
:05:26. > :05:27.that beat estimates and sent its shares soaring.
:05:28. > :05:30.The video streaming company added 3.2 million international customers
:05:31. > :05:33.in the last three months, far more than the two million
:05:34. > :05:37.In the US, numbers rose 21% to 370,000 as hit shows such
:05:38. > :05:39.as Stranger Things and Narcos one over more subscribers.
:05:40. > :05:41.It helped quarterly revenues rise 31.% to $2.29bn,
:05:42. > :05:45.sparking a 20% jump in Netflix's share price in after hours trading.
:05:46. > :05:48.The company also that it plans to license content to existing
:05:49. > :05:51.on line service providers in China rather than operate its own service
:05:52. > :06:18.Our New York business correspondent, Samira Hussain, has the details.
:06:19. > :06:24.After the last few quarters of disappointing subscriber growth,
:06:25. > :06:29.investors are quite pleased with the latest results from Netflix. They
:06:30. > :06:33.have been able to dramatically increase their users, both
:06:34. > :06:38.internationally and here in the. So the question is, what is behind all
:06:39. > :06:43.of this? A big part of the story has to do with original content. Netflix
:06:44. > :06:50.has been creating its own television shows and series. And that has been
:06:51. > :06:55.something that has been bringing a lot of users to the streaming
:06:56. > :07:00.service. So what can we expect from them going forward? Well, with
:07:01. > :07:04.regards to original content, Netflix has said that by 2017 they want to
:07:05. > :07:10.be able to stream 1000 hours of original content. So that is really
:07:11. > :07:15.great for those who are subscribing or who want to subscribe. But, flex
:07:16. > :07:20.is still going to be facing some stiff competition from the likes of
:07:21. > :07:26.Amazon, who are also creating original content, and from streaming
:07:27. > :07:33.sites like Hulu. -- Netflix. This is a step in the right direction. And
:07:34. > :07:34.if you look at results, investors are really happy. Samira Hussain,
:07:35. > :07:36.BBC News, New York. Now here's a financial offer that
:07:37. > :07:39.already sounds like its already had Dalian Wanda, the Chinese
:07:40. > :07:42.media and property giant, has done a deal with the country's
:07:43. > :07:45.government to offer a 40% tax rebate to lure US filmmakers
:07:46. > :07:48.to use its new studio in eastern The offer is the brainchild
:07:49. > :07:52.of the Wanda group Chairman, and China's richest person,
:07:53. > :07:54.Wang Jianlin who has already snapped up the production company behind
:07:55. > :07:56.films including "Interstellar" and "Jurassic World" in his quest
:07:57. > :07:59.to put the Chinese entertainment Mariko Oi joins us
:08:00. > :08:14.now from Singapore. Let us talk to her. It is nice to
:08:15. > :08:18.see you. It would seem that Dalian Wanda is on a mission and is trying
:08:19. > :08:23.all different ways to get Hollywood. That is right. The company has been
:08:24. > :08:28.making news headlines quite often lately, not just with the investment
:08:29. > :08:36.in the US, but also in the UK as well. These moves have also raised
:08:37. > :08:41.concerns among some US loss -- lawmakers over China's increasing
:08:42. > :08:47.investment in Hollywood affecting the US media. But after the latest
:08:48. > :08:53.offer of a 40% discount, Hollywood producers want to film in their
:08:54. > :08:58.studios in China, he said this is an opportunity for Hollywood, not a
:08:59. > :09:01.competition, repeating that he is doing this as a businessman, and it
:09:02. > :09:06.does not come with a political twist. He also emphasised how
:09:07. > :09:10.China's box office market is growing rapidly. You actually predicted it
:09:11. > :09:16.could match the biggest market in the US by 2018, and in order to
:09:17. > :09:21.succeed in China, he said, those films have to have Chinese elements,
:09:22. > :09:27.filming these films in their studios in China will be a great way to do
:09:28. > :09:29.this, he said. I am sure we will have more news soon. Great to see
:09:30. > :09:30.you. Thank you. And there appears to be something
:09:31. > :09:34.in the water CEO's are drinking because two major bosses have
:09:35. > :09:36.announced that they're Caterpillar CEO and Chairman,
:09:37. > :09:39.Doug Oberhelman, will retire The company has seen a large decline
:09:40. > :09:46.in sales in recent years, triggered Meanwhile, the CEO of Visa,
:09:47. > :09:50.Charlie Scarf, says he is resigning after four years because he finds it
:09:51. > :09:54.to difficult to see his family who live on the opposite side
:09:55. > :09:57.of the country to San Francisco The former president
:09:58. > :10:00.of American Express, Alfred Kelly, will replace him at the end
:10:01. > :10:27.of the month. That is all from World Business
:10:28. > :10:28.Report. I will see you in a moment when we review the