14/04/2017 World Business Report


14/04/2017

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It's a $2 trillion business that just keeps accelerating.

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But is the global car industry changing gear fast enough?

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We report from the New York Auto Show.

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Plus, AirB'n'Burglary - the home rental giant says it's

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tightening security after users advertised their homes,

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We have got that Friday feeling which means it is Good Friday which

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means you are probably not watching! You are probably in bed! If you are

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watching, I have an exciting snapshot for all of the news for

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you, will start in New York with annual auto show opened its doors

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the public. The car business had a bit

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of a bumpy ride during the financial crisis but today, it's bigger

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and more profitable than ever. According to the Swiss bank UBS,

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the global auto industry That's more than the entire

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economy of Italy or Brazil. And here's why - last year,

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more than 88 million new vehicles were sold around the world -

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an all-time record. But the industry is

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facing huge changes. Goldman Sachs predicts that by 2025

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a quarter of all of cars sold will have electric engines,

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compared to just 5% at the moment. Tesla has seen its stock

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market value overtake that of General Motors and

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Ford in recent weeks. That's despite the fact Tesla makes

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a fraction of the number of cars, But financial markets are sending

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a clear message about what they see From the New York Auto Show,

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Michelle Fleury reports. Here at the New York Auto Show there

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are plenty of the big kind of sports utility vehicles that Americans love

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so much right now. But the big US automakers have been criticised for

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falling behind when it comes to cutting-edge technology. Case in

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point, Tesla is now worth more than General Motors and Ford. I've come

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here to ask or the executives or does it take to succeed as a global

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carmaker today? Don't try to grow too fast, don't

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try to overstretch the market, don't have too much supply, hold on

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pricing power, get the mix right. If you put those things together you

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can have success in the market. And now of course comes the all-new

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navigator. It starts with a kind of a customer first approach of what

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they want and then how this technology deliver that, so it's

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really maintaining the focus of creating great products but also

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more and more as we go forward great services and experiences for

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customers. We are committed to seeing better

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fuel economy and lower emissions and this is not a new thing, this has

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been going for the last decade or so. All around the decade -- world,

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there is a push to drop emissions and fuel economy to go up until

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ultimately zero emissions and the technological steps towards it and

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also started building in overall volume. -- built in. One key to

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success is doing well in China, the world 's biggest car market. So next

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week, these automakers turned their attention to the Shanghai auto show.

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Krish Bhaskar is CEO and Founder of MIRU -

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the Motor Industry Research Unit in Nice France.

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Not a bad spot to work in! Think you for coming in at this horrible time

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of the morning! There has been some criticism, some of the US car

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makers, and maybe Volkswagen to some extent, that they have all been a

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bit slow in adopting and adapting to the changing technological world

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that we are in. That's absolutely right, they have, but on the other

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hand President Trump has come in and reversed everything, or is about to.

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2017 regulations are fluid at the moment. We don't know what they will

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be. And it's quite clear that what Obama thought would happen is going

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be reversed and may even be rolled back. Let's take that step further

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because I will explain, Krish and I were talking before we came on air

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and you think the whole electorate sort of push towards electric cars

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with now in could be pushed to the site? Not pushed to the side but

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delayed. Resident Trump won't be there for ever but it is happening

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in North America at the US particularly, is there is going to

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be a delay. Now at the moment Paola, muscle cars, huge SUV is, of the

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showstoppers, are huge engines with 800, 0- 100 miles an hour in less

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than five seconds, huge seven seater SUV 's. We used to call them the

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Yank tanks. They are making a comeback? Yes. What you think the

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showstopper will be this year? Lincoln navigator. It is

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outstanding. The lucida electric vehicle could have been really great

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pre- Trump but not post Trump and one of our own vehicles the

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airspace, Jaguar F pace, is the total winner of the air. It is

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great. You mentioned lucid, made in California, an electric car maker,

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but we always talk about Tesla, did it surprise you that Tesla did

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overtake a company that makes a fraction of the cars has never made

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a profit at one point it did overtake the value of General Motors

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and Ford? That's the investors speaking with their wallet, isn't

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it? That is doing something new. There's a new competitor by G M, the

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Chevrolet Alt and it looks good, it is cheaper, it works, its extender

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lead to a vehicle and it is excellent. I have been told I have

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to wrap it up. I want to ask you very briefly, diesel car sales, are

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they going to go down do you think? They may come back up depended on

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the regulations. Everyone at the moment is trying to see what is

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going to happen. Regulations have been passed, it diesel, the 2017 but

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a comeback. A great three, always a pleasure, thank you for joining us

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on this Friday will stop. It is is improving the security

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of its app and website after a BBC investigation found people's homes

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had been burgled by scammers The BBC spoke to three

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people who were robbed after they advertised

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their properties on So I walked the police into this

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room which you can see is full of stuff but it was like completely

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empty. Lack of people Christian Howard letter keys home on AirBnB

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while he was out of town as a convenient way to make some extra

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money. It done so for years without a problem but on his birthday his

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home was burgled. While I was enjoying the hotel and having

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breakfast and then returning back to the hotel room, just to enjoy the

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day and relax a little bit, I got a horrible text message saying that

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somebody is in the flat and it is not me because my account has been

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compromised. Obviously my birthday was over, said it was my first

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reaction. Christian body had let at his home a verified profile, or who

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had shown a B government identification and it had positive

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reviews from previous bookings that the account had been stolen, the

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attacker changed the name, photographs and contact details but

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kept AirBnB's verified badge. And Christian isn't alone. The BBC has

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spoken to two other people who were robbed this way and three others who

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have the recount stolen. And AirBnB's Facebook page has dozens of

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comments from people who have had their accounts compromised. There

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are many ways attackers could have been hijacking AirBnB accounts, they

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may have tricked people into handing over their passwords but there are

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ways AirBnB could have defended against this. Google, Facebook and

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Twitter is among others all offer to step of occasion. It requires you to

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enter the code sent to your phone as well is your password to get into

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your account. We put our security concerns to AirBnB, the company

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said: those changes include to step of

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occasion when somebody logs in for a new device, and text message alerts

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is somebody changes your profile information. But the Christian, the

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changes come too late. This is the whole experience has left him with a

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bad feeling and he may not use AirBnB again. Let me leave you with

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this- Credit Suisse chief executive

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Tidjane Thiam and the bank's board of directors have offered

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to cut their own bonuses by 40% They also proposed to keep total

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board pay at the same level The move follows pressure from Swiss

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lawmakers and the bank's shareholders to address

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excessive executive pay. The Swiss bank has posted two

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straight years of losses but its top 12 executives were awarded around

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$77 million in pay this year. That's for two years of losses!

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Follow me on Twitter! I will be back with James to have a look at some of

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the papers

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