11/04/2017 World Business Report

Now for the latest financial news with Aaron and World Business

After months of delays, Japan's battered Toshiba may finally

tell us its latest numbers and we're not expecting them to be pretty.

We're going to find out if this company will be booted

And, Alexa, start the car and turn the radio on.

Yep, she's coming to a Ford near you.

The American car giant teams up with Amazon and guess what?

If you've got eight minutes, stay where you are and I will give you an

exciting snapshot of the latest in business and money. Starting with

big troubles at Toshiba. The company is expected to publish its result.

With the waiting for a long time. The latest numbers will be for the

last quarter. This comes after we've been waiting, because they've

already been postponed twice. The numbers are expected to be

disastrous. Let's have a look. Recently, Toshiba announced its

losses... These losses would triple after the result of the difficulties

faced by its US division. The US nuclear division has suffered huge

costs, in particular at the projects in Georgia and North Carolina.

Toshiba told us these numbers would be awful and look what happened with

investors! They've sucked their money out of the company had fled.

The share price has more than halved and there are fears that Toshiba

could be delisted from the main Tokyo Stock Exchange. Certainly if

it reports another set of disappointing numbers. The issues

faced by Toshiba certainly highlight Japan's problems with what they call

the so-called zombie companies. Some experts argue that the central bank

in Japan is making it too easy for these Japanese companies to access

money and this is providing somewhat of an artificial lifeline to

unprofitable businesses. Let's go to Rupert Wingfield-Hayes, in Tokyo.

Good to see you. Talk about on tenterhooks! On just wondering, we

know the numbers will more than likely be awful. They are waiting

until the markets close, because I guess that would be the sensible

thing, which is the markets close in about an hour and a half? Yes,

that's a distinct possibility, that they could be waiting to make this

announcement. As you say, we know it will be really bad. Perhaps $9

billion, US, or more. That's for the last nine months of last year. That

would be the biggest manufacturing loss in Japanese corporate history.

They may be waiting to hold this press conference for after the

market so they don't get a sudden shock today. But they really are now

at the end of their tether with Toshiba. They've been given two

extensions. If it had filed their results today they are likely to be

delisted, if they can't get --, with fully audited results within eight

days. Sources within the company say they will make some sort of

announcement today, but it is rumoured that the results haven't

been signed off on by their auditors. So we will then have to

see if the stock market will accept those results, or whether they may

be delisted if not happy with the fact that these been signed off on

by PwC, the auditors. You mentioned corporate history. As an outsider,

you've got to step back and look at Japan and ask what has gone wrong,

what has happened to all of these wonderful Japanese household names

that we used to all use and love. Yes, a really good question. We

remember from our childhood, might in the 70s, maybe yours later, that

those names were everywhere. Everything was Japanese. Now it

isn't. So what has happened? It is a complicated answer to those

questions. Some of them perhaps predictable. Structural problems

with the companies. But some have literally come out of the blue.

These were the greatest brands in consumer goods for decades. Toshiba,

Panasonic, Sony, Hitachi. So how did we end up here? First of all the

Chinese and Koreans came along and they can make these things just as

well but cheaper. Secondly, these Japanese companies lost their mojo

and forgot how to innovate. The company did not go on to invent the

smartphone. Inside a vast exhibition hall, more than 3000 new recruits

are being inducted into one of Japan's big corporations. A lot of

these young people can expect to spend the whole of their career in

this one company. It will become their second home and they will

expect to work hard, law powers, and wait their turn for promotion. It's

a model that's worked well for Japan in the past, but it has real

problems. It is rigid corporate hierarchy, promotion is based on

age, not talent. It's a culture that is resistant to change and bad at

producing new ideas. Japan's big corporations realise they have to

change to survive. And Toshiba decided to bet on nuclear. In 2006

it went out and bought Westinghouse. Five years later, this happened.

This is me inside the Fukushima and if you plan to four years ago. This

changed everything. Many countries decided they didn't want anything to

do with nuclear power. Those that did insisted any new plants must be

much safer and because of that they were going to be much more

expensive. That's the root of Toshiba's current financial

disaster. Toshiba is not alone. Other famous Japanese names have

been through deep crises. Last year Sharp was sold to a Taiwanese

company. Now Toshiba will be broken up, its best bits sold off to the

highest bidder. A fabulous report. Can I tell you,

we are all loving that report here! Thank you. Also, the 70s, I was

right with you, unfortunately! Thank you. I know you will keep across

those numbers. We will see if any more information comes out. Thank

you. That was Rupert Wingfield-Hayes, joining us from

Tokyo. Be prepared - she's coming

to a Ford car near you. Ford has partnered with Amazon

to integrate its Alexa voice assistant into its

latest line of cars. It includes the ability

to remotely start the car, Alexa, asked my Ford Mobile for my

tyre pressure. Your vehicle's tyre pressure is not currently showing

any warnings. Ask my Ford Mobile to start my car.

OK. Say your pin. What's my pin? 5678. Sending start command to your

car. The car is just outside, so hopefully... So I tap here? Yes.

Alexa, continue reading my audio book. OK, so I can pick up from

where I was at home. Alexa, find the nearest coffee shop. Here are a feud

nearby shops. We always want to make driving safer, so you should always

keep your hands on the wheel, eyes on the road. And for your

information and entertainment on the road you can use your voice, which

is really the safest way to interact with the car in general.

Follow me on Twitter. I'll be back to have