:00:17. > :00:23.The world's second largest carmaker is expected to to report shrinking
:00:24. > :00:28.On the farm in the US - we assess the impact
:00:29. > :00:31.of President Trump's policies in an industry that relies
:00:32. > :00:41.on migrant workers, even the undocumented ones.
:00:42. > :00:45.Welcome to World Business Report. I'm Sally Bundock.
:00:46. > :00:49.In a minute we'll itroduce you to the first American
:00:50. > :00:57.We start with the world's second biggest carmaker -
:00:58. > :01:01.Toyota - it will report its latest set of financial results in just
:01:02. > :01:05.The Japanese car giant is expected reveal its had a tough quarter
:01:06. > :01:10.with operating profits falling by 30%.
:01:11. > :01:13.The key reason being a slowdown in the United States taking its toll
:01:14. > :01:18.This follows a record year there last year when carmakers sold
:01:19. > :01:31.But it would seem, at least for now, the winning run is coming to an end
:01:32. > :01:35.Compared to the same period last year, the company has experienced
:01:36. > :01:38.a drop in sales in every month of 2017.
:01:39. > :01:40.As consumers look towards more environmentally friendly models,
:01:41. > :01:44.Toyota has been ramping up its investment in greener technology.
:01:45. > :01:48.By the end of the decade it hopes to sell at least 30 thousand
:01:49. > :01:58.With me is Anna-Marie Baisden, Head of Autos at BMI Research.
:01:59. > :02:11.Good morning. We have put an outline but can you explain in more detail
:02:12. > :02:17.why it has been so difficult Toyota for? There are many reasons. The
:02:18. > :02:21.stronger yen hurt a lot of Japanese companies. That is one aspect. But
:02:22. > :02:29.also they have been spending a lot, on RND and green technology, they
:02:30. > :02:36.lifted a freeze on new plans say they have new investment in those. A
:02:37. > :02:40.new centre at in Michigan also open. Expenditure as well as falling sales
:02:41. > :02:45.you mentioned. You would assume if you have had a record year, sales
:02:46. > :02:54.would tail of the following year because people have done the big car
:02:55. > :02:59.purchases in 2015. Absolutely. In the US we were forecasting a decline
:03:00. > :03:05.in sales. It is a mature market, it has had a good few years of sale
:03:06. > :03:10.growth. There was also a growing second-hand market, demand for
:03:11. > :03:20.credit starting to fall as a credit limits tightened. A lot of reasons
:03:21. > :03:23.why you can expect that. They have been expanding implants in the US,
:03:24. > :03:30.is that have anything to do with President Trump? He was vocal that
:03:31. > :03:38.in Japan they are not exporting lots of US cars were as Japan and makes a
:03:39. > :03:44.lot of money on its exports of cars to the US? Yes, it will be an
:03:45. > :03:49.interesting relationship with the new administration. We have seen
:03:50. > :03:55.Toyota being criticised for opening a new plant in Mexico as well. At
:03:56. > :04:02.the Detroit motor show they announced $10 billion so they are
:04:03. > :04:08.putting something into the country. US brands do not have the same
:04:09. > :04:12.access to the Japanese market but in some cases it is a matter of
:04:13. > :04:17.building some exposure. Some European brands and open more
:04:18. > :04:22.dealerships there and it has been working. The green tech hydrogen
:04:23. > :04:27.power, a big investment and a big push from the government as well?
:04:28. > :04:34.The Japanese government supporting hydrogen fuel sales technology. I
:04:35. > :04:42.think they are looking to get first mover advantage as well. Toyota And
:04:43. > :04:48.Honda. They have their eye on China for sales on that? Mostly Japan at
:04:49. > :04:57.the moment. China is moving towards more traditional hybrids. Thank you
:04:58. > :05:00.for your time. When we get the results from Toyota we will fill you
:05:01. > :05:02.in and only in how well they did. In the US politicians -
:05:03. > :05:05.not least the President - want to talk about undocumented
:05:06. > :05:07.workers, and border walls, but the real problem the economy has
:05:08. > :05:10.with migrant workers, Businesses, particularly
:05:11. > :05:14.in agriculture and tourism, are finding it harder to hire
:05:15. > :05:17.the all important seasonal staff They want the visa programs that
:05:18. > :05:23.allow people to come work in the US Samira Hussain reports
:05:24. > :05:39.from Chester, New Jersey. This farmer does not get to spend as
:05:40. > :05:44.much time in the field as he used to all as he would like. His first
:05:45. > :05:54.first-generation farmer. Agriculture was a calling to do God 's work. As
:05:55. > :05:58.we tour is 600 acre property, he at his business would not be thriving
:05:59. > :06:03.without outside help. Agriculture as we know it would not be able to
:06:04. > :06:08.survive if the people who are working today as undocumented
:06:09. > :06:14.workers were not in the workforce. During peak season, more than 200
:06:15. > :06:22.people work for him. 50 are here on temporary visas like Ivan. His wife
:06:23. > :06:26.and daughters are in Costa Rica. He leaves for six months of the year
:06:27. > :06:36.and he has been doing it for six years. The reason is simple. For
:06:37. > :06:40.money. Little money. You cannot find sufficient Labour and you do not
:06:41. > :06:44.know from year to year if you are going to be able to find workers are
:06:45. > :06:49.legally so you wonder why people turn to doing things under the table
:06:50. > :06:58.and to undocumented workers because we do not have resources in place to
:06:59. > :07:04.hire people properly. This farmer depends on guest workers at
:07:05. > :07:10.applications for temporary visas are expensive and cumbersome. He needs
:07:11. > :07:16.more workers and faster and it would seem so does the US economy. We have
:07:17. > :07:21.close to full economy which is great. We want wages to go up and a
:07:22. > :07:26.tight Labour market but we also want the economy to expand beyond the
:07:27. > :07:32.current workforce. Immigrants need to be all to that. Rhetoric
:07:33. > :07:39.surrounding immigration has become harsher and focused on more and more
:07:40. > :07:42.constraints but the fact is, a huge number of American businesses in
:07:43. > :07:48.different industries are dependent on the Labour of overseas workers
:07:49. > :07:50.and what these businesses want is for the President and Congress to
:07:51. > :07:55.focus on the reality. In other news: Apple has become
:07:56. > :08:00.the first-ever US company with a stock-market
:08:01. > :08:03.value over $800 billion. The milestone was crossed on Tuesday
:08:04. > :08:12.when Apple stock closed at an all time high
:08:13. > :08:16.of $153.96 cents a share. In fact Apple's stock price is up
:08:17. > :08:19.57,403% since its market A share price of $191.80
:08:20. > :08:25.would bring its market value Australia's Treasurer Scott Morrison
:08:26. > :08:31.hopes to raise the equivalent of $4.6 billion from a levy
:08:32. > :08:33.on the balance sheets It's estimated it will add an extra
:08:34. > :08:41.10% to their tax liabilities. The Australian Bankers' Assocation
:08:42. > :08:44.has slammed the move saying it's not just a tax on the country's
:08:45. > :08:47.banks but a direct attack Profits at Walt Disney jumped 11%
:08:48. > :08:54.in the first three months of 2017, bolstered by attendance
:08:55. > :08:59.at its theme parks and resorts. Profits in the first three months
:09:00. > :09:03.of the year were $2.4 billion. But the media giant's revenue
:09:04. > :09:05.gains were more muted. The firm remains on track for modest
:09:06. > :09:08.growth, in spite of subscriber losses at its sports
:09:09. > :09:23.television network ESPN. Not enough to impress shareholders
:09:24. > :09:29.with Disney shares down 3% after the closing bell on Wall Street. It is a
:09:30. > :09:35.small world after all. If you wish upon a Star, you could have bought
:09:36. > :09:40.the AppleShare in 1980 and be a multi- millionaire but I did not so
:09:41. > :09:53.I hear at five o'clock in the morning. --I hear.
:09:54. > :09:54.That's all for me for now will be reviewing the news in a