:00:00. > :00:08.Those are the main stories. Time to catch up with all the business news
:00:09. > :00:16.in the World Business Report. The biggest recall in
:00:17. > :00:18.automotive history leads Japan's Takata has had to recall
:00:19. > :00:31.more than 100m airbags Two more banks get
:00:32. > :00:35.government bailouts - the third time that's
:00:36. > :00:38.happened in a year. Is it a sign of more trouble for the
:00:39. > :00:41.eurozone? The Japanese company behind
:00:42. > :00:47.the biggest recall in car-making Takata's airbags were first found
:00:48. > :00:51.to be faulty in 2004. They've were used by 13
:00:52. > :00:54.of the world's biggest carmakers who have all agreed to proceedings
:00:55. > :00:57.which have seen Takata file for bankruptcy with courts in both
:00:58. > :01:06.Tokyo and the US city of Delaware. Worldwide, more than 100
:01:07. > :01:10.million Takata airbags - which can rupture with deadly force
:01:11. > :01:14.and spray shrapnel at passengers - The faulty airbags have been linked
:01:15. > :01:18.to at least 17 deaths and more It's all been very
:01:19. > :01:23.expensive for the company. $9 billion is the estimated cost
:01:24. > :01:26.according to Japan's Nikkei The US firm, Key Safety Systems,
:01:27. > :01:40.has bought all of Takata's assets - except those relating to the faulty
:01:41. > :01:43.airbags for almost $1.6 billion. Let's speak to Mariko Oi
:01:44. > :01:46.who is in our Asia Business Hub There's just been apress conference
:01:47. > :01:57.- what did the CEO have to say? In addition to what you said, I
:01:58. > :02:06.think what a lot of consumers who drives those cars, the cars with the
:02:07. > :02:10.possibly faulty airbags, their concerns are, what are they going to
:02:11. > :02:18.do if they are affected? The company has assured consumers that they can
:02:19. > :02:22.still get a free exchange of the airbag if necessary, but I think the
:02:23. > :02:26.big concern is that the company has even said that themselves that they
:02:27. > :02:30.don't know what has actually been causing these faulty airbags to
:02:31. > :02:35.explode. I remember a colleague of ours in Tokyo went to get a new
:02:36. > :02:40.airbag, she was very concerned that it was exactly the same. How do you
:02:41. > :02:48.know that the new airbag is actually OK? There are a lot of unknown
:02:49. > :02:55.entities and concerns, but for now, at least the company has got the
:02:56. > :03:00.$1.6 billion from its key rival that would be allocated to pay for some
:03:01. > :03:04.of the lawsuits and for the clients wanting to get their money back. At
:03:05. > :03:11.the moment, they are still battling for compensation, because it's been
:03:12. > :03:22.extremely costly? What our car company saying about this -- are? I
:03:23. > :03:29.spoke to Toyota, Nissan and Honda, all of which use the Takata airbags.
:03:30. > :03:32.They have been negotiating and paying for all of the recall related
:03:33. > :03:38.cost. They have been negotiating to get reimbursed. Now that Takata has
:03:39. > :03:42.filed for bankruptcy, they are not hopeful that they will get their
:03:43. > :03:48.money back. However, they have emphasised that their priority is to
:03:49. > :03:52.make sure that their cars are safe. There seems to be a bit of
:03:53. > :03:58.disagreements between Takata and its clients. Whether those carmakers can
:03:59. > :04:03.get the money back. The US company which has taken over all the assets,
:04:04. > :04:07.other than a faulty airbags, has also said they are not going to be
:04:08. > :04:12.affected by it. They will continue to operate Takata as it is for all
:04:13. > :04:19.the other assets, because you remember that the company does make
:04:20. > :04:23.other products such as child seats and seatbelts.
:04:24. > :04:27.Millions of Italians will be waking up to find their bank accounts have
:04:28. > :04:40.It's because the country's biggest lender has taken on the good assets
:04:41. > :04:42.of both Banca Popolare di Vicenza and Veneto Banca
:04:43. > :04:45.after the government effectively bailed them out with 5bn euros
:04:46. > :04:48.The European Commission has approved the deal which still needs
:04:49. > :04:50.parliamentary backing because it should stop
:04:51. > :04:59.Two more Italian banks bite the dust. Excessive debt and not enough
:05:00. > :05:03.profit, Banca Popolare di Vicenza and Veneto Banca have collapsed. The
:05:04. > :05:08.good parts of the banks were handed over to Banco Intesa Sanpaolo. The
:05:09. > :05:13.Italian government effectively giving a gift of almost 5 billion
:05:14. > :05:19.euros. They have also set aside a further 12 billion euros in case
:05:20. > :05:25.even more banks go bad in future. The Italian state intends to and
:05:26. > :05:32.will probably manage to recuperate some of the costs in the medium
:05:33. > :05:38.term. Don't forget that the state that bought the assets are defined
:05:39. > :05:41.as the bad bank. They use respected European regulations in the best way
:05:42. > :05:48.possible, using all measures which are often difficult to implement at
:05:49. > :05:53.the European level. This is the third such banking failure in the
:05:54. > :05:57.year in Italy, after another bank needed a state bailout around
:05:58. > :06:02.Christmas. That was a loud that bank was deemed vital to the overall
:06:03. > :06:09.functioning of the Italian banking system. The question now is, is this
:06:10. > :06:10.enough to stabilise Italy's indebted banking system? Or is this just the
:06:11. > :06:12.start? When the billionaire president meets
:06:13. > :06:16.the Prime Minister of a billion people, the growing trade
:06:17. > :06:18.and business ties betweens their countries will be
:06:19. > :06:21.at the top of their agenda. While Donald Trump oversees
:06:22. > :06:26.the world's biggest economy, India's Narendra Modi,
:06:27. > :06:29.is in charge of of the world's Last year India sold $46 billion
:06:30. > :06:37.worth of goods to the United States, But it was also more than as much
:06:38. > :06:42.as India bought from the US. But that imbalance
:06:43. > :06:54.might be changing. Since the turn of the millennium,
:06:55. > :06:57.the number of high income households in India has grown
:06:58. > :06:59.more than fivefold. As the middle class expands,
:07:00. > :07:03.so too does demand for US goods such as cars, air travel
:07:04. > :07:04.and consumer electronics. Another issue crucial to economic
:07:05. > :07:08.ties between India and the US is the H1B visa scheme which allows
:07:09. > :07:11.highly skilled foreigners to work They've benefited the Indian IT
:07:12. > :07:15.industry, which is now concerned that Washington
:07:16. > :07:17.is considering making It's an issue Michelle Fleury
:07:18. > :07:28.has been looking at. This woman had no intention of
:07:29. > :07:35.staying in America after her studies. I wanted to go back and
:07:36. > :07:40.implement those learnings. But she joined Mogul, a platform for women.
:07:41. > :07:44.They did a feature which lets companies hire highly skilled
:07:45. > :07:49.workers from abroad, she was able to stay. She played a key role in
:07:50. > :07:54.helping the company to grow and hire more American workers. I am needed
:07:55. > :07:59.to build the company, because it is still in a high-growth phase. One of
:08:00. > :08:07.the largest platforms for female millennial is, and I would like to
:08:08. > :08:11.be the largest worldwide. We believe jobs must be offered to American
:08:12. > :08:16.workers first. Donald Trump has made a big issue of immigration. Under
:08:17. > :08:22.his leadership, this is fresh scrutiny. When President Trump was
:08:23. > :08:27.talking about diseases on the campaign trail, most Americans
:08:28. > :08:32.probably didn't know what he was talking about. In India, everyone's
:08:33. > :08:39.years perked up because it is a huge part of the tech centre. He told me,
:08:40. > :08:47.the HB1 these are plays an important part be in the economy -- H1B.
:08:48. > :08:53.People use those to come to the US every year. 70% of people who use it
:08:54. > :08:58.are from India. Despite the importance of the H1B issue to
:08:59. > :09:02.India, Narendra Modi is not likely to risk souring relationships
:09:03. > :09:08.between the two economies. The UK's biggest health food
:09:09. > :09:13.retailer Holland and Barrett is being bought by a Russian
:09:14. > :09:24.billionaire for about $2.3 billion. The Financial Times says
:09:25. > :09:27.that the chain of more than 1,100 stores is being by L1 Retail
:09:28. > :09:30.which is controlled by Mikhail Holland and Barrett also has
:09:31. > :09:33.stores across Europe, as well as a growing
:09:34. > :09:35.presence in emerging markets including the Middle East,
:09:36. > :09:37.China and India. Shares in Asia have edged up
:09:38. > :09:42.on optimism about global growth, while the dollar was
:09:43. > :09:45.on the defensive as a subdued US inflation outlook raised questions
:09:46. > :09:49.about the Federal Reserve's plans