10/01/2017 World Business Report


10/01/2017

The latest business news with informed analysis from the world's financial centres.


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The newspaper review after World Business Report.

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Handing on control of the world's biggest economy.

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As Barack Obama prepares to say goodbye we look at what he's

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The cost of China's raw materials is going up faster than it has

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wait for it - it's important because it could mean the rest of us

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- the rest of the world - paying more for the stuff

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Stay where you are I have about nine! Nine minutes, it is all I am

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asking for an eye promised to deliver an exciting snapshot of

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business. There are just a couple of weeks

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of Barack Obama's presidency remaining and later today

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he gives his big farewell speech. As well as being commander in chief

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he's also overseen the world's biggest economy for

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the last eight years. Well more than 11 million more

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jobs have been added with the unemployment rate

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falling from 7.8% to 4.7% But what the typical American family

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brings home has barely changed at nearly $54,000 a year once

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you adjust for inflation Pretty much the same as it has been

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for 20 years. And the economy has grown about 1.5%

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a year over the course It compares to about 2%

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under his predecessor One of the costs of that has

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been that US Government debt has nearly doubled from $10

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trillion to $20 trillion. From New York Michelle Fleury

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sent this report. Wall Street is left reeling from

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some of the biggest blows. It is a nightmare. Bunker C Bower louts and

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nine employment that peaked at 10% in 2009. When Barack Obama became

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president, he had seen were fighting the total collapse of the financial

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system. 15 million Americans were out of work when he delivered his

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first state of the union address. People are out of work. They are

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hurting. They need our help and that is why jobs must be our number one

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focus in 2010. Perhaps his biggest achievement, stopping the recession

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from turning into another Great Depression and it started with the

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rescue of a symbol of US industrial might stash the American car

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industry. Some this investment banker remembers it well. He led the

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auto industry recovery. It was is in parsing that that in fact he made a

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decision that was unpopular but was clearly, in retrospect the right

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decision. If we had allowed those car companies to continue to

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liquidate, the loss of many jobs at a time when the economy was ready

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losing so many jobs. Government involvement did not end with the

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auto industry. An unprecedented amount of money was spent to

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stimulate the economy. $4 million made its way to the Bronx community

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Centre, saving 15 jobs. Not everyone was a fan of the stimulus plan. We

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were. We were great fans because it allowed us to really and hands our

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relations. Under President Obama, staggering 11 million jobs have been

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created to stop while hiring has picked up, many of those positions

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are temporary or part-time, not the kind of work you can raise a family

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on which is why many people I spoke to were gloomy. Do you feel more

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hopeful than eight years ago? So-so. Prices are up and salaries remain

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the same. President Obama has the longest job growth in history but

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many Americans have forgotten what prosperity feels like. The challenge

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facing the incoming administration. We've had some numbers out of China

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which show that the world's second biggest economy could be

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about to push up the prices of the things the rest of the world

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is buying from them. Let's go to Rico Hizon whose in our

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Asia Business Hub in Singapore. Leeson, people watching will be

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thinking how can China make us pay more? Absolutely. Even your socks,

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your shirts and suits could be more expensive by next week because with

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higher prices from the mainland at this could lead them to export

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inflation to nations around the world through its supply chain as

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manufacturers are squeezed by higher input costs and in turn raise asking

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prices, raw materials, anything because China explores a lot of

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things around the world and this could put pressure on monetary

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policies and lead to higher interest rates. It could impact growth rates

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not only in Asia but around the world which is ready been affected

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by the global economy. It is good news for the Chinese economy because

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they may be turning the corner but whether that rebound in China will

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be sustained edges on how the global economy fares under a Donald Trump

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administration. Watch this space. 2017 will be an important year for

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the Chinese and US economy. Thank you so much for explaining that. If

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the price is now up is OK if our wages go up. But that ain't going to

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happen on the BBC, I can tell you. It is the cruise industry, 25

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million people expected to cruise this year and an increasing number

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are from Asia. One of the biggest cruise liners, Carnival, is hoping

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that will allow it to dock more profits... JJ my producer wrote

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this, by the way, I did not. We caught up with the boss of Carnival.

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Take a look. A red carpet welcome for every guest. This is the

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seaborne encore docking in Singapore for the very first time. Cruising is

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still relatively new in Asia, it is seen as a holiday for retirees and

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mass passengers are from the US, Europe or Australia. This chip

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according to the company that owns it is one of the most like Sirius

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and it is on its maiden voyage to Asia-a massive market. China has

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become a particular focus, despite the fact that economic growth is

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slowing down. Asia is a huge market and a large portion is an

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penetrated. China. Some people estimate tourists in China could be

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the largest. Plus the rest of Asia is growing. Australia is one of the

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fastest growing market, growing 20% a year for many years. The youth

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field you have kind of missed the boat, so to speak a cunning into

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Asia now? It is almost... It almost is not matter. You can produce so

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much capacity. Even though thinks may be slowing, there are many, many

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people who can still cruise and will cruise who have not. But it has not

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all been this -- smooth sailing. Carnival was accused of washing its

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hands of the disaster and spent years trying to build back its

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reputation. We learnt something from it, examining it closer. We learnt

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from any incident that happens anywhere in the world. Since that

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time we have advanced the number of safety systems on ships which we do

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on a continuous basis anyway. Safety concerns did not appear to be

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dampening prospects, at least a dozen new ships are set to hit the

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sea this year and profits are soaring at finding new and younger

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passengers, willing to take a cruise is likely to be a challenge.

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Two prototype models of a highly-anticipated gaming

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laptop have been stolen at the Consumer Electronics Show

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They belong to the gaming company Razer and each has three 4K screens

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- its' the first portable laptop of its kind.

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Razer said the devices were taken from its press room on Sunday.

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And the Chief Executive Min-Liang Tan said they were treating the case

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

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Concerns have been raised about the care of transgender

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prisoners, following four deaths in little more than a year at jails

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A report from the Prisons and Probation Ombudsman says prison

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