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