:00:00. > :00:19.The clock is ticking in one of the largest currency experiments
:00:20. > :00:25.Yep today is the last day to exchange those bank notes
:00:26. > :00:29.abruptly scrapped by the Indian govt last month.
:00:30. > :00:31.The Prime Minister calls it a success -
:00:32. > :00:35.but what do ordinary Indians think about it all?
:00:36. > :00:39.And the big boss of the world's 3rd largest pension fund looks set to be
:00:40. > :00:41.arrested for abuse of power and giving false testimony.
:00:42. > :00:44.It's just another Sth Korean corruption scandal -
:00:45. > :00:52.we're going live to Seoul to get the latest.
:00:53. > :01:04.Welcome to World Business Report I'm Aaron Heslehurst.
:01:05. > :01:08.If you are walking past the telly, stay where you are fought little
:01:09. > :01:10.bite of Finance. Today is the last chance
:01:11. > :01:12.for Indians to deposit, in banks, any of the cash,
:01:13. > :01:16.those 500 1000 rupee notes - the government abruptly
:01:17. > :01:18.scrapped last month. It's an unprecedented experiment
:01:19. > :01:24.in a society where cash is king. 85% of the bank notes in circulation
:01:25. > :01:28.have been withdrawn. The government's aim is to crack
:01:29. > :01:32.down fake notes and corruption. But as Yogita Limaye
:01:33. > :01:34.reports from Mumbai, the move has had a major impact
:01:35. > :01:52.on the entire Indian economy. This workshop used to be a hive of
:01:53. > :01:58.activity. At least 20 people work here making hundreds of leather
:01:59. > :02:02.wallets and purses every week. Now there are just four. After the
:02:03. > :02:08.government withdrew most banknotes in November, work has almost come to
:02:09. > :02:11.a standstill. TRANSLATION: I need cash to pay my workers and by
:02:12. > :02:16.materials. No one except cheques. We do not have the means to make
:02:17. > :02:22.digital payments nor do the people who we purchased goods from. Most of
:02:23. > :02:27.my workers have left and I do not have any orders either. Some
:02:28. > :02:32.businesses have simply had to close down. Behind me is a row of
:02:33. > :02:37.factories all closed, some of which is to make things like clothes.
:02:38. > :02:43.India's informal sector employs more than 80% of its workforce and it is
:02:44. > :02:50.these businesses that are most heavily dependent on cash. -- 18%.
:02:51. > :02:54.Workers who travel from villages to cities to aid the living have been
:02:55. > :02:59.heading back. Employers do not have cash to pay them but there is also
:03:00. > :03:04.less work because consumers are cutting down on purchases. The pace
:03:05. > :03:12.at which new pace that's being introduced is slow. ATM regularly
:03:13. > :03:15.run out of notes and there are queues at banks. Almost two months
:03:16. > :03:25.after the announcement, people are divided. A couple... You can look at
:03:26. > :03:29.the number perspectives and it does not really matter. Initially I
:03:30. > :03:33.thought it was a good idea but what I feel could have been done better
:03:34. > :03:37.was the fact that it could have been planned out a little bit. I feel
:03:38. > :03:43.there is a lot of chaos and you can see it everywhere. Not in just one
:03:44. > :03:47.or two cases. Everybody is affected. Among the worst affected are those
:03:48. > :03:48.at the bottom of the economic ladder. Those who cannot afford to
:03:49. > :03:55.go even a day without a job. We will keep across the currency
:03:56. > :03:59.situation in India. South Korean prosecutors
:04:00. > :04:03.investigating an influence-peddling scandal that has engulfed
:04:04. > :04:06.President Park are seeking a warrant to arrest the head of
:04:07. > :04:09.the national pension fund, The special prosecutor said he had
:04:10. > :04:14.applied for a warrant on charges of abuse of power and
:04:15. > :04:16.giving false testimony. Stephen Evans has been
:04:17. > :04:29.following the story for us in Seoul Good to see you as always, my
:04:30. > :04:34.friend. You chose a good patch was make I mean, it keeps you busy. If
:04:35. > :04:40.it is not one corporate scandal it is another. What is this about? It
:04:41. > :04:48.is all part of the same scandal... Alleged scandal I should say. That
:04:49. > :04:54.scandal is that President Park's friend got money out of companies to
:04:55. > :04:59.fund she controlled and there were favours given to companies. That is
:05:00. > :05:06.the nub of the scandal. This bit the killer is that concerns Samsung.
:05:07. > :05:15.Last year, it wanted to reorganise itself in a dig, big wet- ait
:05:16. > :05:21.billion dollars worth. --8. Some shareholders said that was not very
:05:22. > :05:24.good for the company, not good for the shareholders, they are only
:05:25. > :05:30.doing this because the ruling family wants to tighten its grip on the
:05:31. > :05:34.company. A lot of opposition to the merger. The national pension fund
:05:35. > :05:42.put its substantial number of votes behind the family and the merger
:05:43. > :05:47.went through - just. The allegation now that pressure was put on the
:05:48. > :05:52.fund by the health Minister at the time to put its votes behind the
:05:53. > :05:58.Samsung family in return for money that the family had paid to the
:05:59. > :06:03.fans. That is the essence of it. Mr Moon was invited as a witness and
:06:04. > :06:08.has since become a suspect. I do have another question but I have
:06:09. > :06:17.even told to leave it there. Happy New Year and this is said. And to
:06:18. > :06:19.you. It was his day off today and he came in just to do that!
:06:20. > :06:22.Earlier this year, the British government finally gave the go-ahead
:06:23. > :06:24.for the construction a new 22 billion dollar nuclear power station
:06:25. > :06:27.at Hinkley point in the West of England.
:06:28. > :06:30.But while attention is focused on the next generation of power
:06:31. > :06:33.plants, many of those built in the past have reached the end
:06:34. > :06:37.And as Theo Leggett now reports, dismantling a nuclear power plant
:06:38. > :06:44.is a challenging - and costly - process.
:06:45. > :06:55.What forms the heart of a power station? Physicists would say the
:06:56. > :06:58.call but for me it is the control room. Half a century ago
:06:59. > :07:06.nuclear-power seemed like science fiction brought to life. Cheap plea
:07:07. > :07:12.energy. Sufficient energy to generate... Britain open the world
:07:13. > :07:18.'s first commercial nuclear station in 1950 and more were built soon
:07:19. > :07:23.afterwards. -- 1956. But they do not last for ever. This one in eastern
:07:24. > :07:29.England were shut down in 2002. Demolition works have been under way
:07:30. > :07:35.for some time but they will carry on on to the next century. This was
:07:36. > :07:39.once a cutting edge facilities but now it is obsolete. Large parts had
:07:40. > :07:44.the demolished by pulling apart and nuclear facility is not easy.
:07:45. > :07:52.Because of the use of the building, there were levels of contamination,
:07:53. > :07:56.all of this work is stuff that has not been done before on nuclear
:07:57. > :08:00.sites so we developed processes that meant it was done in a safe and
:08:01. > :08:05.proficient manner. The buildings themselves will not be taken apart
:08:06. > :08:09.for a long time, instead they have been clad in aluminium to protect
:08:10. > :08:13.them against the weather and they will stay like that for another 80
:08:14. > :08:19.years. We reduce the radiation levels for the workers and also to
:08:20. > :08:26.reduce the volume of waste. This is one of the most interesting parts,
:08:27. > :08:31.of the Bradwell complex, pack down and taken away for storage is at the
:08:32. > :08:36.waist. This is not an old system, it is Rand you and part of the
:08:37. > :08:40.decommissioning process but it costs money and a total bill for dealing
:08:41. > :08:48.with the nuclear legacy is expected to be more than. This is pioneering
:08:49. > :08:55.work. Many react as were not built with a decommissioning in mind and
:08:56. > :09:01.we are learning and taking lessons from Bradwell and applying those
:09:02. > :09:08.across the fleet. Hopefully hell swear as well. A new generation of
:09:09. > :09:12.nuclear plants is now planned. Access to it will now have to be
:09:13. > :09:16.built with that costs and challenges of the commissioning firmly in mind.
:09:17. > :09:20.-- decommissioning. In other news China's
:09:21. > :09:22.Huawei Technologies, one of the world's largest
:09:23. > :09:27.telecom equipment makers, says it expects to record a 32% jump
:09:28. > :09:31.in revenue for 2016, thanks to a strong performance
:09:32. > :09:35.across its business platforms. The Shenzhen-based company,
:09:36. > :09:39.which competes with Sweden's Ericsson for the top spot
:09:40. > :09:42.in the global market for telecoms equipment, forecasts revenue
:09:43. > :09:51.will reach $74.8 billion.