24/01/2017 World Business Report


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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


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