28/12/2016 World Business Report

Now for the latest financial news with Aaron.

A new-clear nightmare - $3 billion wiped off the value

of the Japanese tech giant Toshiba, after it buys a US power business

that turns out to be not so powerful.

Beating the giants at their own game -

we visit the man who couldn't wait for the electronics industry

to come up with usable smart home solutions

Well, happy... What do you say between Christmas and New Year?

Anyway hopefully we have a bite-size look at finance.

Shares of the Japanese technology giant Toshiba took

another massive hit this morning falling 20% -

that's the maximum allowed before the stock exchange

The value lost off the company today is nearly $3 billion.

And it's all to do with a not so good purchase Toshiba made

Mariko Oi is in our Asia Business Hub in Singapore.

Good to see you and I hope you had a wonderful Christmas. For those

watching around the world, when I look at Toshiba, I thinking

television, DVD players are not nuclear power stations! Some of our

viewers may recognise Toshiba with rice cookers, washing machines, but

it also creates everything from skyscrapers and microchips and, as

you say, nuclear facilities. It basically bought the company and it

is now thinking the company is not worth what they paid? The deal was

done with Westinghouse Electric 's, it bought the business from Chicago

Bridge I. It now seems the cost of the deal and also the value of the

assets might not have been quite accurate and the company has come

out and said its financial performance forecast it gave back in

November may need to be put down and the company may be losing money.

Wasn't this year when the ship came out and sort of said, sorry, guys,

we have not been making the profits we have been telling you? The

massive accounting scandals. It was revealed profits were overstated for

60 years and at that time by the Chief executive officer had to step

down. Company shares have been recovering, up 80%, until yesterday

's role so it is definitely not good news. Just as I have you, the Tokyo

stock exchange, the market said it had Toshiba on a watchlist since the

scandal. Can it be removed? Of what is a watchlist? It is probably too

early to say. It is being monitored because the accounting scandal shook

the industry. It is a massive company. It is being monitored by

the authorities, this deal, which could lead to a huge loss. But

whether or not it will be removed is too early to say. If you got the

short straw and you are there tomorrow, I will talk to them. I

will be there. See you then. After a rollercoaster 2016,

what can we expect This week we're looking

into our crystal ball to see Today our New York business reporter

Samira Hussain takes a closer look One prediction that seems safe for

business and economics in the US isn't that a certain figure will

lead the large and that figure, off course, is a Donald Trump. New

president arrived with a new frenzy of speculation about what they will

and will not achieve and that seems much more than usual with Mr Trump.

But if it is a new era in US politics, it is not as clear what I

knew economic era he will bring. Takes guts, big ones. Mr Trump

pledged to cut taxes in his campaign. -- takes cuts. It is safe

to assume that some of it will happen. After that, it gets a little

less certain. Infrastructure spending, Mr Trump says there will

be more of that but it is not clear that Congress will go for it.

Visitor was elected promising to renegotiate certain deals. Those are

just three items on the agenda that could have a big impact on the US,

even global economic growth. The new president 's efforts to remake the

US economy, whether they succeed or fail, looks set to be highlighted

globally. Smart homes - where technology steps

in to make your house run smoothly - But do you need the likes of Google

and Amazon to kit you out? Zoe Kleinman went to the New Forest

to meet one man who has beaten them Imagine living in a house that is

sort of self aware. They have high hopes for the Smart home but I hear

the meet a man who has been doing it for years. Good morning. Simon says

that Smart home living has dramatically decreased household

deals. As the house knows where you are, it also knows which rooms need

heat and light. We have a second set of sockets. If the power is not

needed in a room, it automatically gets shut down. Simon has also

installed to upgrade security to protect his home from cyber attack

stop wireless technology is improving, with the volume of

sensors and equipment, we have got nearly two kilometres of data

cabling in the house and that is on top of the mains wiring as well. He

gets constant updates via his telephone and smart watch. We are

all generating huge amounts of data and big companies are using that and

exploiting it to give us that services and create better

advertising. I want to do that in the home to produce energy, to make

it more comfortable. We need to find ways to understand where the

boundaries are. Simon admits his family has had to get used to the

idea of being monitored. Psychology Professor Tom Buchanan says that is

not surprising. What is different about this situation is that you are

aware of what is going on, where as in our everyday life, these things

are in the background and become part of the furniture. Even if the

bathroom has been touched by technology. The family liked

listening to music but they would drop things into the bathwater. By

wiping the rubber duck over different parts of the bus, you can

pause, change music. It is proof you do not need to be a picture to

create smarter home. It needn't cost the earth.

India's Tata Sons is suing its ousted chairman,

Cyrus Mistry, for breach of confidentiality,

The conglomerate accused him of causing "irreparable harm

and damage" by making sensitive documents public at a companies'

These included the minutes of board meetings, financial

Mr Mistry has been in a public spat with Tata since

Don't forget you can get in touch with me and some of the team

Health officials here in the UK are warning that middle aged people

face a health crisis due to their lifestyles.