Browse content similar to 24/03/2017. Check below for episodes and series from the same categories and more!
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possible collusion between Russia and the Trump campaign. | :00:00. | :00:20. | |
Wall Street and markets watch as President Trump struggles to push | :00:21. | :00:23. | |
Could a $2 trillion bubble be about to burst? | :00:24. | :00:35. | |
Plus - Australia puts on a song and dance for China's Premier Li - | :00:36. | :00:38. | |
massive trade ties top of the agenda. | :00:39. | :00:40. | |
Also, Samsun faces shareholders at its annual meeting. I'd like to be a | :00:41. | :00:56. | |
fly on the wall there. Our We start in the US - | :00:57. | :00:59. | |
where President Trump is battling to deliver on one of his biggest | :01:00. | :01:03. | |
election promises - and to hang on to his | :01:04. | :01:06. | |
credibility with investors. Late on Thursday Republicans | :01:07. | :01:08. | |
were forced to delay a vote in the House of Representatives | :01:09. | :01:11. | |
on scrapping and replacing Obamacare as they struggled to | :01:12. | :01:13. | |
drum up enough support On Wall Street it's | :01:14. | :01:16. | |
being seen as a key test The concern is if he can't deliver | :01:17. | :01:27. | |
on scrapping Obamacare, his other plans for massive tax cuts | :01:28. | :01:31. | |
and spending hikes may not get Let's just show you the scale | :01:32. | :01:34. | |
of the expectation that $2.2 trillion has been added | :01:35. | :01:39. | |
to the value of US shares since Trump was elected in a rally | :01:40. | :01:47. | |
of historic proportions. If you take a look at | :01:48. | :01:54. | |
the Dow Jones Industrial Average, it has soared since | :01:55. | :01:57. | |
the election in November. As of the start of this week, it had | :01:58. | :02:06. | |
gone up 14% since the US election. The financial sector has been | :02:07. | :02:12. | |
the biggest winner - That's because the President has | :02:13. | :02:14. | |
promised to review the strict regulations brought | :02:15. | :02:22. | |
in after the financial crisis - The Dow's index of bank | :02:23. | :02:24. | |
shares has soared 17% (TAKE GFX 4) The construction | :02:25. | :02:30. | |
industry has also been doing well - thanks to President Trump's promises | :02:31. | :02:33. | |
of huge spending on infrastructure. Shares in that sector are up | :02:34. | :02:36. | |
9% since the election. Markets have been rattled | :02:37. | :02:40. | |
this week though. Some investors think they are now | :02:41. | :02:44. | |
only going in one direction. The market really can't keep | :02:45. | :02:53. | |
the gains that we had earlier today. It's just a no-win, because no | :02:54. | :02:57. | |
matter what happens in the House, that bill, that healthcare bill just | :02:58. | :03:00. | |
had to be too conservative The Senate will never be | :03:01. | :03:03. | |
able to pass that bill. There's just too many | :03:04. | :03:10. | |
on the left, liberal senators, so it's a no-win, which means it's | :03:11. | :03:13. | |
no support for Trump which means that that Trump trade | :03:14. | :03:16. | |
is starting to unwind. Russ Mould is Investment | :03:17. | :03:21. | |
Director at AJ Bell. nice to see you. What do you make of | :03:22. | :03:33. | |
all of this? Everybody predicted that this particular reform of the | :03:34. | :03:39. | |
affordable healthcare act known as Obamacare would be extremely | :03:40. | :03:42. | |
difficult. One of those classic situations where markets climb a | :03:43. | :03:48. | |
wall of worry and slide down the slope. When Trump took over, people | :03:49. | :03:53. | |
were wondering what he was. Infrastructure reform and healthcare | :03:54. | :03:58. | |
reform and tax reform, he could be like Ronald Reagan, how exciting, | :03:59. | :04:03. | |
GDP went up to 8% but now, hopes have gone from zero as you said to | :04:04. | :04:10. | |
$2.3 trillion worth counting. There has been hope built-in and that is | :04:11. | :04:14. | |
what he has got to meet. What's interesting is the move on his part | :04:15. | :04:19. | |
saying we will vote on this regardless. If I don't win, but I | :04:20. | :04:26. | |
will walk away. We will not necessarily change what has become | :04:27. | :04:30. | |
known as Obamacare. What do you take from that in how he will push do | :04:31. | :04:35. | |
other things which will be difficult to pass? It is the slope of hope | :04:36. | :04:40. | |
again. The Budget blueprint didn't mention the $1 trillion of | :04:41. | :04:43. | |
infrastructure spending. The Democrats are fighting this | :04:44. | :04:48. | |
appointment for the Security and exchange commission and The Supreme | :04:49. | :04:51. | |
Court, raising questions over what reforms he can push through which | :04:52. | :04:56. | |
comes back to American investor Warren Buffett, who said when you | :04:57. | :05:01. | |
mix your political views with your investment decisions, you are making | :05:02. | :05:06. | |
a big mistake. Nobody knows what the politicians can do. It is hard to | :05:07. | :05:11. | |
predict the outcome. Let me ask to predict what will happen on markets. | :05:12. | :05:17. | |
This is the big question. Why do the markets get so excited? We knew it | :05:18. | :05:22. | |
would be tough on Capitol Hill. Everybody said that. Investors said | :05:23. | :05:26. | |
that, political analysts. We all knew it wouldn't be easy yet we saw | :05:27. | :05:30. | |
this incredible rally since he was elected. Do I think the market is | :05:31. | :05:38. | |
expensive? Yes. Is the economy late in its cycle? Yes. Do interest rate | :05:39. | :05:42. | |
rises stopped the market, yes, because eventually more inspect at | :05:43. | :05:48. | |
-- expensive money. What I will say, you are likely to get more | :05:49. | :05:53. | |
volatility. We had a fall in the index which was the first one for | :05:54. | :05:58. | |
110 days. You only get those moves every 11 so you are likely to see | :05:59. | :06:02. | |
more volatility going forward. Good luck. Thanks a lot but coming in. | :06:03. | :06:10. | |
Samsung has been facing investors at its Annual General Meeting. | :06:11. | :06:18. | |
The company's leader - grandson of the founder | :06:19. | :06:20. | |
and Vice Chairman Jay Y Lee - wasn't there. | :06:21. | :06:23. | |
He's facing trial on charges of bribery and embezzlement | :06:24. | :06:25. | |
which he denies in a corruption scandal that has seen president | :06:26. | :06:28. | |
Sharanjit Leyl has been following this for us in Singapore. | :06:29. | :06:38. | |
That was never going to be an easy AGM. But also the other issues that | :06:39. | :06:46. | |
Samsung, it has had torrid year. A very torrid year. Lee wasn't there, | :06:47. | :06:55. | |
detained over those bribery charges. We heard from the vice-chairman | :06:56. | :07:00. | |
instead. He was apologising to shareholders. The scandals which led | :07:01. | :07:09. | |
to the ousting of the South Korean president and the recall of the Note | :07:10. | :07:18. | |
7 smartphones. They are promising the firm will improve governments in | :07:19. | :07:22. | |
the face of pressure from investors and Mr Jay Y Lee, absent because he | :07:23. | :07:26. | |
is facing all those charges including bribery and embezzlement. | :07:27. | :07:30. | |
Prosecutors are accusing him of bribing are confident of the former | :07:31. | :07:35. | |
resident in return of the government backing 2015 merger which helped | :07:36. | :07:40. | |
tighten control over the South Korean technology giant. Also fire | :07:41. | :07:47. | |
prone Note 7 and the Battle over its batteries, it cost the company about | :07:48. | :07:51. | |
$6 billion in the vice-chairman apologise about that as wealth and | :07:52. | :07:55. | |
Samsung shares are falling today. They hit record highs this month | :07:56. | :08:00. | |
following very strong semiconductor sales and the potential for | :08:01. | :08:03. | |
restructuring the technology giant. Investors are hoping to hear about | :08:04. | :08:09. | |
that as well. The shares are falling today. Good to see you. Thank you. | :08:10. | :08:12. | |
We are also in Australia - where the Chinese Premier Li Keqiang | :08:13. | :08:15. | |
is holding talks with Prime Minister Malcolm Turnbull. | :08:16. | :08:18. | |
They'll be discussing how to build on the Free Trade Agreement | :08:19. | :08:20. | |
Mr Li's visit to Canberra comes at a time when China is looking | :08:21. | :08:25. | |
to capitalise on the global uncertainty which has followed | :08:26. | :08:28. | |
Our Australia correspondent Hywel Griffith has been looking | :08:29. | :08:31. | |
Handmade for some of the world's most demanding sleepers. These | :08:32. | :08:45. | |
mattresses are on their way from Sydney to Shanghai where they will | :08:46. | :08:55. | |
sell for 75,000 Australian dollars. AH Beard only started exporting to | :08:56. | :09:00. | |
China in 2013 and in a few years, they hope to have 100 stores there. | :09:01. | :09:05. | |
The 2015 Free Trade Agreement has helped push down tariffs and plugged | :09:06. | :09:10. | |
up profits, bolstered by the massive demand for Western goods. The buyer | :09:11. | :09:14. | |
typically is not interested in buying locally produced products, | :09:15. | :09:19. | |
they are looking for something that is imported. They particularly look | :09:20. | :09:22. | |
to Australia because we have a very natural product and beyond, I guess, | :09:23. | :09:28. | |
the quality of the product and the master craftsmanship which goes into | :09:29. | :09:31. | |
producing the product, they are looking for something that is | :09:32. | :09:38. | |
genuine. Premier Li Keqiang has been given a traditional welcome afforded | :09:39. | :09:42. | |
to old allies. He's come to tell Australia it doesn't have to choose | :09:43. | :09:48. | |
between China and America. They can trade in a circle of friends. | :09:49. | :09:53. | |
Australia has spent decades carefully cultivating its | :09:54. | :09:56. | |
relationship with China. It's become its biggest trading partner. The | :09:57. | :10:00. | |
Free Trade Agreement sealed the deal but there are more doors the company | :10:01. | :10:04. | |
opened like making it easier for Australian companies to sell on | :10:05. | :10:09. | |
line. At the moment, exports are still dominated by iron ore and | :10:10. | :10:15. | |
coal, the commodities that have kept the Australian economy moving. But | :10:16. | :10:18. | |
there is a need to change track. Food sales like beef on the menu. | :10:19. | :10:24. | |
There may even be time to discuss China stepping into the space | :10:25. | :10:29. | |
vacated by America in a new transpacific part -- Trans-Pacific | :10:30. | :10:33. | |
Partnership. The TPP itself may have to be modified because it has been | :10:34. | :10:40. | |
strict on prices and a bunch of other issues which China has found | :10:41. | :10:45. | |
difficult to swallow in the short-term but a modified version | :10:46. | :10:49. | |
may be possible. For this company, more could be done to put the | :10:50. | :10:53. | |
finishing touches to the trade agreement, like improving customs | :10:54. | :10:58. | |
clearance but China and Australia become pretty happy bedfellows. | :10:59. | :11:08. | |
The show you how markets are trading in Asia. It's a mixed picture. -- | :11:09. | :11:17. | |
let us. We saw some numbers for Japan earlier this week, the yen is | :11:18. | :11:25. | |
still very strong. Markets in the US are very flat. Markets worldwide are | :11:26. | :11:29. | |
waiting to see how that boat on the reform of the healthcare plan in US | :11:30. | :11:34. | |
goes. That is the real issue for markets around the world. You | :11:35. | :11:39. | |
up-to-date on the business stories. See you in a | :11:40. | :11:40. |