18/01/2017 World Business Report


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Mark Zuckerberg gets a real grilling in the US courtroom as he defends


the origins of Facebook's virtual reality headset.


Weighing up the 'wish list' - business leaders give us their take


on Theresa May's plans for Brexit, as the pound starts to sink again.


Welcome to World Business Report. I'm Sally Bundock.


We will be live in Davos in just a moment to speak to the boss of WPP


about what Theresa May had to say on Tuesday.


Facebook founder Mark Zuckerberg has denied allegations his company's


virtual reality unit stole its technology


He faced hours of tough questioning in a US court on Tuesday.


Our North America Technology Reporter Dave Lee provided more


Mark Zuckerberg was on the stand wearing not his typical grey T-shirt


but a full suit and tie and while he was there his company Facebook was


accused of essentially stealing technology from a firm which works


very closely with oculus, that -- Oculus. They say it was their input


that may be Oculus headset and early success and presumably why Facebook


wanted to buy it. Facebook did by the copy for $2 billion in 2014 and


shortly after that ZeniMax filed this lawsuit. Mark Zuckerberg said


that was typical when a big deal was made for companies to come out of


the woodwork and eventually claim some kind of credit, that he insists


that all of the innovation in that headset was done by the Oculus team


and that team alone. This trial will last for around three weeks.


The defacto boss of Samsung Jay Y Lee has arrived


A judge will decide today whether he should be arrested


over his alleged role in a major corruption scandal.


Kevin Kim joins us from Seoul in South Korea.


Tell us more about today. Well, the head of Samsung was seen rising at


court with quite a grim face. After a four-hour work here in battle it


has just ended, so we may hear the results later this evening.


Prosecutors believe Samsung has committed bribery and has asked Jay


Y Lee to be jailed. The allegation is that Samsung gave Williams of


dollars for the votes of the national pension fund in a big


restructuring of the company. -- billions of dollars. Last week Jay Y


Lee was summoned as a suspect and questioned for about 24 hours.


Investigators said on Monday that despite concern, Jay Y Lee's arrest


may have a negative effect on the economy. Establishing justice was


more important. Thanks very much, Kevin. I know we will be up dated


when we hear from the judge as to whether we should be arrested or


not. US regulators claim


that the world's biggest producer of mobile phone chips, Qualcomm,


forced Apple into an exclusivity The Federal Trade commission


is suing Qualcomm for unfair practices in the way it


licenses its technology, especially the processors used


in cell phones and other devices. The Apple deal is just one case


where Qualcomm is accused of abusing its dominant


market position. The company has denied


the allegations, saying the case One of Donald Trump's closest


advisers has told the BBC the US would win


a trade war with China. Former Wall Street banker


Anthony Scaramucci warned that if China chose to retaliate


when the Trump administration imposed tariffs on imports,


it would cost them "way more" The comments comes as the Chinese


President gave a staunch defence of globalisation at the World


Economic Forum, in Davos. Today, for the first time ever,


a freight train from China It wasn't intended as


a symbolic statement, but with the British Prime Minister


confirming the UK must leave the European single market,


the train's arrival does illustrate that post-Brexit Britain may need


to look further afield Theresa May used her much


anticipated speech yesterday to announce the UK's priorities


for upcoming Brexit negotiations. Leaving the single market means


Britain will lose the right to trade with the European Union


without restrictions. Despite this, the UK Prime Minister


says the government will negotiate the best possible access


to the trading bloc. She has also said Britain will aim


for a new a customs union agreement This would allow the UK to form


new relationships with non-European trading partners, but it


could impose higher costs Many financial firms which use


London as its European headquarters have already started


looking elsewhere in Europe. The market reaction told another


story with the value of the pound rocketing after Theresa May said


she would allow Parliament to have a say on any final deal,


so investors showing some scepticism that a hard Brexit will get the go


ahead of politicians. Let's get the view


of Sir Martin Sorrell, chief executive of the world's


largest advertising company, WPP. Good morning. Good morning! It is


very cold and very early! But you look like you have the best possible


gear on to withstand that challenge. Tell me what you think of what


Theresa May had to say. Is it a good plan, or are we on a Rex at cliff


edge? -- Brexit. She has laid out to 12 point agenda and it is the


beginning of the negotiation. I thought it was notable for the


detail. But also because of the hard position. We will see how it pans


out. I guess I sort of felt she may have laid out the agenda as the


first shots in a lawn and what looks as though it will be a very hard and


detailed negotiation. The Prime Minister set out her stall a guess


in response to critics who said there was very little detail. Now we


know much more about the detail and as you pointed out in your


preliminary peace we do have a sort of Brexit check through the House of


Lords and House of Commons once the details are learnt. I guess that's


why the sterling started to strengthen after a week period. As


you say she was talking sternly and may have learned from Donald Trump.


Donald Tusk says this is a very sad day. As she set out a stall for a


bitter divorce? Is that the risk? She has laid out what she feels, the


two big issues, immigration and the role or influence of the European


Court of Justice. She said on both those points they are unacceptable,


from Britain's point of view. But it's a negotiation. 27 member states


over two years have to agree to that deal. 20 of the 27 states have to


agree. This is going to be a lawn and tough negotiation and, as I


said, the Prime Minister has given her position on what will happen


when Article 50 is triggered, supposedly in March. Those


negotiations will take place. We could end up with a classic European


recipe of fudge and not to wish list as it were, but in the meantime how


will businesses keep going and meander through, as we have this


uncertainty and volatility had a go for us? Well, the uncertainty


remains and that's the real problem. I think one of the principles the


Prime Minister laid out was an attempt to reduce the attempt. But


having said that there is uncertainty. This is as a result of


this opening shots in the negotiation will plant for the


lowest... The worst position, which would be a WTO solution. And


tariffs. Can interrupt you? They will plan for the worst and


therefore if things turn out a little bit better, if there is a


middle ground between where the EU are and where the Prime Minister and


Britain is, things may improve from the lower level, but companies are


doing their content in the planning and will be planning on that basis.


And eating out of London may be? A hard Rex at as you suggest. --


meeting out of London may be? A hard Brexit, as you suggest, and it isn't


clear what sort of Brexit check that we will have on a couple of years


but we will see that more in due course. People out of London, always


a possibility! Always a possibility. Don't give me a hard time for not


coming to your studio! It is very cold and very early and very unfair!


I wouldn't dream of it! I appreciate you getting out of bed so early from


your beautiful hotel in Davos. Go back there and get a hot chocolate.


See you soon. That was Sir Martin Sorrell, the


boss of WPP. We will be back in a moment to have a look at the papers.


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