26/06/2017 World Business Report

Those are the main stories. Time to catch up with all the business news

in the World Business Report. The biggest recall in

automotive history leads Japan's Takata has had to recall

more than 100m airbags Two more banks get

government bailouts - the third time that's

happened in a year. Is it a sign of more trouble for the

eurozone? The Japanese company behind

the biggest recall in car-making Takata's airbags were first found

to be faulty in 2004. They've were used by 13

of the world's biggest carmakers who have all agreed to proceedings

which have seen Takata file for bankruptcy with courts in both

Tokyo and the US city of Delaware. Worldwide, more than 100

million Takata airbags - which can rupture with deadly force

and spray shrapnel at passengers - The faulty airbags have been linked

to at least 17 deaths and more It's all been very

expensive for the company. $9 billion is the estimated cost

according to Japan's Nikkei The US firm, Key Safety Systems,

has bought all of Takata's assets - except those relating to the faulty

airbags for almost $1.6 billion. Let's speak to Mariko Oi

who is in our Asia Business Hub There's just been apress conference

- what did the CEO have to say? In addition to what you said, I

think what a lot of consumers who drives those cars, the cars with the

possibly faulty airbags, their concerns are, what are they going to

do if they are affected? The company has assured consumers that they can

still get a free exchange of the airbag if necessary, but I think the

big concern is that the company has even said that themselves that they

don't know what has actually been causing these faulty airbags to

explode. I remember a colleague of ours in Tokyo went to get a new

airbag, she was very concerned that it was exactly the same. How do you

know that the new airbag is actually OK? There are a lot of unknown

entities and concerns, but for now, at least the company has got the

$1.6 billion from its key rival that would be allocated to pay for some

of the lawsuits and for the clients wanting to get their money back. At

the moment, they are still battling for compensation, because it's been

extremely costly? What our car company saying about this -- are? I

spoke to Toyota, Nissan and Honda, all of which use the Takata airbags.

They have been negotiating and paying for all of the recall related

cost. They have been negotiating to get reimbursed. Now that Takata has

filed for bankruptcy, they are not hopeful that they will get their

money back. However, they have emphasised that their priority is to

make sure that their cars are safe. There seems to be a bit of

disagreements between Takata and its clients. Whether those carmakers can

get the money back. The US company which has taken over all the assets,

other than a faulty airbags, has also said they are not going to be

affected by it. They will continue to operate Takata as it is for all

the other assets, because you remember that the company does make

other products such as child seats and seatbelts.

Millions of Italians will be waking up to find their bank accounts have

It's because the country's biggest lender has taken on the good assets

of both Banca Popolare di Vicenza and Veneto Banca

after the government effectively bailed them out with 5bn euros

The European Commission has approved the deal which still needs

parliamentary backing because it should stop

Two more Italian banks bite the dust. Excessive debt and not enough

profit, Banca Popolare di Vicenza and Veneto Banca have collapsed. The

good parts of the banks were handed over to Banco Intesa Sanpaolo. The

Italian government effectively giving a gift of almost 5 billion

euros. They have also set aside a further 12 billion euros in case

even more banks go bad in future. The Italian state intends to and

will probably manage to recuperate some of the costs in the medium

term. Don't forget that the state that bought the assets are defined

as the bad bank. They use respected European regulations in the best way

possible, using all measures which are often difficult to implement at

the European level. This is the third such banking failure in the

year in Italy, after another bank needed a state bailout around

Christmas. That was a loud that bank was deemed vital to the overall

functioning of the Italian banking system. The question now is, is this

enough to stabilise Italy's indebted banking system? Or is this just the

start? When the billionaire president meets

the Prime Minister of a billion people, the growing trade

and business ties betweens their countries will be

at the top of their agenda. While Donald Trump oversees

the world's biggest economy, India's Narendra Modi,

is in charge of of the world's Last year India sold $46 billion

worth of goods to the United States, But it was also more than as much

as India bought from the US. But that imbalance

might be changing. Since the turn of the millennium,

the number of high income households in India has grown

more than fivefold. As the middle class expands,

so too does demand for US goods such as cars, air travel

and consumer electronics. Another issue crucial to economic

ties between India and the US is the H1B visa scheme which allows

highly skilled foreigners to work They've benefited the Indian IT

industry, which is now concerned that Washington

is considering making It's an issue Michelle Fleury

has been looking at. This woman had no intention of

staying in America after her studies. I wanted to go back and

implement those learnings. But she joined Mogul, a platform for women.

They did a feature which lets companies hire highly skilled

workers from abroad, she was able to stay. She played a key role in

helping the company to grow and hire more American workers. I am needed

to build the company, because it is still in a high-growth phase. One of

the largest platforms for female millennial is, and I would like to

be the largest worldwide. We believe jobs must be offered to American

workers first. Donald Trump has made a big issue of immigration. Under

his leadership, this is fresh scrutiny. When President Trump was

talking about diseases on the campaign trail, most Americans

probably didn't know what he was talking about. In India, everyone's

years perked up because it is a huge part of the tech centre. He told me,

the HB1 these are plays an important part be in the economy -- H1B.

People use those to come to the US every year. 70% of people who use it

are from India. Despite the importance of the H1B issue to

India, Narendra Modi is not likely to risk souring relationships

between the two economies. The UK's biggest health food

retailer Holland and Barrett is being bought by a Russian

billionaire for about $2.3 billion. The Financial Times says

that the chain of more than 1,100 stores is being by L1 Retail

which is controlled by Mikhail Holland and Barrett also has

stores across Europe, as well as a growing

presence in emerging markets including the Middle East,

China and India. Shares in Asia have edged up

on optimism about global growth, while the dollar was

on the defensive as a subdued US inflation outlook raised questions

about the Federal Reserve's plans