24/01/2017 World Business Report

with sally and World Business Report.

What now for the countries in the Trans-Pacific Partnership

as President Trump signs an executive order to withdraw

Samsung's microchip business powers the company to a jump in profits

If you have no food to hand we'll make it worse

as we'll take you to a true Indian feast.

I am told there is a business angle! But we can't start without talking

about this. I'm talking about US

President Trump. On day one in office he signed

a slew of executive orders but the one grabbing

all the headlines worldwide is his move to withdraw the US

from the Trans-Pacific Partnership. TPP as it's also known is the huge

trade deal negotiated under Mr Trump's

predesessor Barack Obama. It was a deal between 12

nations in the Pacific area and was set to cover 40%

of the world's economic output. The painstaking negotiations

were led by Obama and took seven It was generally seen as a way

to cement relations in the area Significantly China was not part

of the negotiations. The 12 countries signed up to TPP

in February of last year ratified by the Republican held US

Congress. President Trump now wants

to negotiate trade deals on a country-to-country basis

with a 30 day cancellation clause We've been talking about this for a

long time. Thank you. Great thing for the American worker,

what we just did. There you have it! That was the

moment. With me is Kate Andrews

from the News Editor of the Institute

of Economic Affairs. Good morning. The delivered on that

promise, he has done the deed, what now for TPP? Interesting to get

reaction from leaders of the countries within the 12 countries,

Australia saying they can go ahead without the US. Technically it can,

if six of them want to go ahead with it and make up 85% of the combined

GDP that was meant to be there than they can go ahead, which basically

means Japan has to go along with it, which is why we're seeing Australia

and Japan in negotiations right now. It's possible they might push for it

but losing out on the US customer base, the 3 million Americans that

would have been importing a lot and consuming those cheaper products,

that will make it a struggle. Do we need TPP? You can have you in a

relaxed and oral trade deals that can be hugely beneficial --

unilateral. That's look at how long they take. The idea that Trump will

get a trade deal with the UK within weeks isn't feasible, they can take

years. Obama negotiated TPP for seven years, conversations started

in the mid- 2000s so these things take time. It would be fantastic to

have trade deals with Australia or Japan but it won't come back soon

and in the meantime we will miss out on the economic boom. Presumably the

leadership in China are upping their hands, they weren't a part of this

particular trade deal and they're starting their own version with

these countries -- rubbing. What does that mean for the winners and

the losers? The real loser maybe the US. With TPP, the US was Luke Dyer

macro hooking to create a single market within Asia and exclude China

-- was looking to. If Donald Trump is really interested in keeping

manufacturing jobs in the US and keeping that money in the US then he

should do what he's already planning on doing, lowering corporation tax

significantly, giving American businesses an incentive to stay but

cracking down on this trade deal will hurt American consumers and

will give China the footing it already has too built itself up

more. Kate Andrews, we appreciate your time. -- has two build. More on

that very soon. Cash has two build. -- has to build.

It would seem its electronics division is doing well and boosting

the groups bottom line, some welcome good news

from the Korean tech giant after such a turbulent year.

Profits in the fourth quarter jumped to $7.8 billion.

Rico Hizon is in our Asia Business Hub in Singapore.

So nice to see you. With all the news we have had out of Samsung, all

the bad press, this might come as a pleasant surprise. That's right. Not

many were bullish on Samsung Electronics after a very challenging

2016. But the Korean technology giant has surprised us despite the

tough year they have had, they remained profitable. In the

fourth-quarter profits more than doubled from a year earlier, mainly

thanks to its chipmaking and panel display businesses. The

semiconductor unit contributed more than half of the company's quarterly

operating profit and despite the problems it faced in restoring

consumer trust in the absence of the galaxy notes smart phones because of

its exploding batteries, consumers still snapped up Samsung smart

phones like the Galaxy F7 and the Edge and other cheaper galaxy smart

phones and that helped Samsung's mobile business rebound from the

previous quarter when the Note 7 to bark wiped out basically its mobile

phone profits. Going forward they still expect to be profitable in

2017, but the company is trying to manage expectations, saying they

have other issues to worry about, including a corruption probe

involving South Korean President Park. Let's see how this plays out

and if it will indeed impact its bottom line. We will keep a close

eye and good to have you back, Mr he's on! -- Mr Rico Hizon!

India is known the world over for its cuisine.

But keeping customers at home happy hasn't been easy.

Restaurant owners serving traditional Indian food have been

struggling to woo young customers in particular,

and so some are trying more dramatic culinary experiences.

It's not about curries and kebabs any more. Indian food is getting a

makeover. This is a deep-fried fritter that is soaked in sticky

sugar syrup. It's a popular Indian Swede found on most street corners

but with a little help from science and a lot of creativity, this is

what it's been turned into. Tiny beads of caviar topped with a

saffron foam. It looks kind of cool and it tastes just as good. And

chefs are hoping with this modern take they can attract young people

back to Indian food. This entrepreneur is hoping his next

restaurant launch is as blessed as his previous. His father is a

well-known Indian chef and he wants to carry on his father's legacy but

with a modern twist. The days of old food are gone. We maintain the core

and the authenticity and we don't mess around with the flavours, but

we produce a very modern version of the same dish. If you want to take

any cuisine global then you have to do that. It's not just molecular

food. Chefs are taking traditional cuisine out of sitdown restaurants

to the places young people hang out. He's one of the first chefs to put

Indian delicacies in bars and pubs. We wanted it to be a gastro pub with

our own definition because we didn't really want to ride on what existed

in England, which is essentially where the word came from. It has the

tendency of being more formal and clean and straight lines and white

tablecloths. It was putting the spin and the fun back into the product,

into a pub space but also focus on food and being unabashedly Indian.

For Indian entrepreneurs, getting young Indians on board is crucial to

taking the new-age food global. But with a host of global cuisine is

available and popular here at very affordable prices, they're not only

competing with traditional Indian fare. So while tricks with the food

might get customers early on, it could be tough to get them coming

back. Aziz, BBC News, Delhi. That's it, we want to go and find

some food! -- Shilpa Kannan. Flooding has caused billions

of pounds of damage and ruined thousands of homes in the UK

in the last few year but the government isn't doing

enough to tackle them. That's according to MPs

who criticised a lack of action two