:00:00. > :00:13.with sally and World Business Report.
:00:14. > :00:20.What now for the countries in the Trans-Pacific Partnership
:00:21. > :00:22.as President Trump signs an executive order to withdraw
:00:23. > :00:32.Samsung's microchip business powers the company to a jump in profits
:00:33. > :00:51.If you have no food to hand we'll make it worse
:00:52. > :00:53.as we'll take you to a true Indian feast.
:00:54. > :01:04.I am told there is a business angle! But we can't start without talking
:01:05. > :01:07.about this. I'm talking about US
:01:08. > :01:14.President Trump. On day one in office he signed
:01:15. > :01:17.a slew of executive orders but the one grabbing
:01:18. > :01:19.all the headlines worldwide is his move to withdraw the US
:01:20. > :01:22.from the Trans-Pacific Partnership. TPP as it's also known is the huge
:01:23. > :01:25.trade deal negotiated under Mr Trump's
:01:26. > :01:27.predesessor Barack Obama. It was a deal between 12
:01:28. > :01:30.nations in the Pacific area and was set to cover 40%
:01:31. > :01:33.of the world's economic output. The painstaking negotiations
:01:34. > :01:36.were led by Obama and took seven It was generally seen as a way
:01:37. > :01:42.to cement relations in the area Significantly China was not part
:01:43. > :01:48.of the negotiations. The 12 countries signed up to TPP
:01:49. > :01:52.in February of last year ratified by the Republican held US
:01:53. > :02:01.Congress. President Trump now wants
:02:02. > :02:03.to negotiate trade deals on a country-to-country basis
:02:04. > :02:06.with a 30 day cancellation clause We've been talking about this for a
:02:07. > :02:28.long time. Thank you. Great thing for the American worker,
:02:29. > :02:39.what we just did. There you have it! That was the
:02:40. > :02:42.moment. With me is Kate Andrews
:02:43. > :02:45.from the News Editor of the Institute
:02:46. > :02:54.of Economic Affairs. Good morning. The delivered on that
:02:55. > :02:59.promise, he has done the deed, what now for TPP? Interesting to get
:03:00. > :03:03.reaction from leaders of the countries within the 12 countries,
:03:04. > :03:08.Australia saying they can go ahead without the US. Technically it can,
:03:09. > :03:13.if six of them want to go ahead with it and make up 85% of the combined
:03:14. > :03:17.GDP that was meant to be there than they can go ahead, which basically
:03:18. > :03:21.means Japan has to go along with it, which is why we're seeing Australia
:03:22. > :03:26.and Japan in negotiations right now. It's possible they might push for it
:03:27. > :03:32.but losing out on the US customer base, the 3 million Americans that
:03:33. > :03:35.would have been importing a lot and consuming those cheaper products,
:03:36. > :03:39.that will make it a struggle. Do we need TPP? You can have you in a
:03:40. > :03:44.relaxed and oral trade deals that can be hugely beneficial --
:03:45. > :03:48.unilateral. That's look at how long they take. The idea that Trump will
:03:49. > :03:54.get a trade deal with the UK within weeks isn't feasible, they can take
:03:55. > :03:58.years. Obama negotiated TPP for seven years, conversations started
:03:59. > :04:02.in the mid- 2000s so these things take time. It would be fantastic to
:04:03. > :04:07.have trade deals with Australia or Japan but it won't come back soon
:04:08. > :04:11.and in the meantime we will miss out on the economic boom. Presumably the
:04:12. > :04:15.leadership in China are upping their hands, they weren't a part of this
:04:16. > :04:20.particular trade deal and they're starting their own version with
:04:21. > :04:24.these countries -- rubbing. What does that mean for the winners and
:04:25. > :04:30.the losers? The real loser maybe the US. With TPP, the US was Luke Dyer
:04:31. > :04:39.macro hooking to create a single market within Asia and exclude China
:04:40. > :04:42.-- was looking to. If Donald Trump is really interested in keeping
:04:43. > :04:46.manufacturing jobs in the US and keeping that money in the US then he
:04:47. > :04:49.should do what he's already planning on doing, lowering corporation tax
:04:50. > :04:54.significantly, giving American businesses an incentive to stay but
:04:55. > :04:57.cracking down on this trade deal will hurt American consumers and
:04:58. > :05:01.will give China the footing it already has too built itself up
:05:02. > :05:12.more. Kate Andrews, we appreciate your time. -- has two build. More on
:05:13. > :05:14.that very soon. Cash has two build. -- has to build.
:05:15. > :05:18.It would seem its electronics division is doing well and boosting
:05:19. > :05:20.the groups bottom line, some welcome good news
:05:21. > :05:23.from the Korean tech giant after such a turbulent year.
:05:24. > :05:25.Profits in the fourth quarter jumped to $7.8 billion.
:05:26. > :05:28.Rico Hizon is in our Asia Business Hub in Singapore.
:05:29. > :05:34.So nice to see you. With all the news we have had out of Samsung, all
:05:35. > :05:40.the bad press, this might come as a pleasant surprise. That's right. Not
:05:41. > :05:47.many were bullish on Samsung Electronics after a very challenging
:05:48. > :05:52.2016. But the Korean technology giant has surprised us despite the
:05:53. > :05:55.tough year they have had, they remained profitable. In the
:05:56. > :06:00.fourth-quarter profits more than doubled from a year earlier, mainly
:06:01. > :06:03.thanks to its chipmaking and panel display businesses. The
:06:04. > :06:09.semiconductor unit contributed more than half of the company's quarterly
:06:10. > :06:12.operating profit and despite the problems it faced in restoring
:06:13. > :06:18.consumer trust in the absence of the galaxy notes smart phones because of
:06:19. > :06:24.its exploding batteries, consumers still snapped up Samsung smart
:06:25. > :06:29.phones like the Galaxy F7 and the Edge and other cheaper galaxy smart
:06:30. > :06:34.phones and that helped Samsung's mobile business rebound from the
:06:35. > :06:38.previous quarter when the Note 7 to bark wiped out basically its mobile
:06:39. > :06:44.phone profits. Going forward they still expect to be profitable in
:06:45. > :06:49.2017, but the company is trying to manage expectations, saying they
:06:50. > :06:52.have other issues to worry about, including a corruption probe
:06:53. > :06:57.involving South Korean President Park. Let's see how this plays out
:06:58. > :07:01.and if it will indeed impact its bottom line. We will keep a close
:07:02. > :07:05.eye and good to have you back, Mr he's on! -- Mr Rico Hizon!
:07:06. > :07:08.India is known the world over for its cuisine.
:07:09. > :07:14.But keeping customers at home happy hasn't been easy.
:07:15. > :07:16.Restaurant owners serving traditional Indian food have been
:07:17. > :07:18.struggling to woo young customers in particular,
:07:19. > :07:20.and so some are trying more dramatic culinary experiences.
:07:21. > :07:48.It's not about curries and kebabs any more. Indian food is getting a
:07:49. > :07:53.makeover. This is a deep-fried fritter that is soaked in sticky
:07:54. > :07:58.sugar syrup. It's a popular Indian Swede found on most street corners
:07:59. > :08:01.but with a little help from science and a lot of creativity, this is
:08:02. > :08:07.what it's been turned into. Tiny beads of caviar topped with a
:08:08. > :08:13.saffron foam. It looks kind of cool and it tastes just as good. And
:08:14. > :08:21.chefs are hoping with this modern take they can attract young people
:08:22. > :08:25.back to Indian food. This entrepreneur is hoping his next
:08:26. > :08:32.restaurant launch is as blessed as his previous. His father is a
:08:33. > :08:38.well-known Indian chef and he wants to carry on his father's legacy but
:08:39. > :08:43.with a modern twist. The days of old food are gone. We maintain the core
:08:44. > :08:48.and the authenticity and we don't mess around with the flavours, but
:08:49. > :08:52.we produce a very modern version of the same dish. If you want to take
:08:53. > :08:57.any cuisine global then you have to do that. It's not just molecular
:08:58. > :09:02.food. Chefs are taking traditional cuisine out of sitdown restaurants
:09:03. > :09:07.to the places young people hang out. He's one of the first chefs to put
:09:08. > :09:12.Indian delicacies in bars and pubs. We wanted it to be a gastro pub with
:09:13. > :09:16.our own definition because we didn't really want to ride on what existed
:09:17. > :09:26.in England, which is essentially where the word came from. It has the
:09:27. > :09:29.tendency of being more formal and clean and straight lines and white
:09:30. > :09:33.tablecloths. It was putting the spin and the fun back into the product,
:09:34. > :09:37.into a pub space but also focus on food and being unabashedly Indian.
:09:38. > :09:42.For Indian entrepreneurs, getting young Indians on board is crucial to
:09:43. > :09:47.taking the new-age food global. But with a host of global cuisine is
:09:48. > :09:50.available and popular here at very affordable prices, they're not only
:09:51. > :09:57.competing with traditional Indian fare. So while tricks with the food
:09:58. > :10:00.might get customers early on, it could be tough to get them coming
:10:01. > :10:04.back. Aziz, BBC News, Delhi. That's it, we want to go and find
:10:05. > :10:16.some food! -- Shilpa Kannan. Flooding has caused billions
:10:17. > :10:19.of pounds of damage and ruined thousands of homes in the UK
:10:20. > :10:22.in the last few year but the government isn't doing
:10:23. > :10:24.enough to tackle them. That's according to MPs
:10:25. > :10:28.who criticised a lack of action two