:00:00. > :00:14.Now it's time for World Business Report.
:00:15. > :00:20.It's 241 years to the day since the US founding fathers signed
:00:21. > :00:23.the Declaration of Independence - now, there's another man in charge.
:00:24. > :00:26.As global leaders prepare to meet later this week,
:00:27. > :00:29.we'll look at whether Donald Trump's policies are a step forward
:00:30. > :00:35.And we'll look at the issues facing female entrepreneurs
:00:36. > :00:38.after a new report points to a glass ceiling in start-up funding.
:00:39. > :00:48.We'll hear from a leading businesswoman whose billion dollar
:00:49. > :00:51.business is set to list on the New York Stock Exchange.
:00:52. > :01:01.It's the fourth of July and while Americans will be taking
:01:02. > :01:03.the day off to mark Independence Day,
:01:04. > :01:05.the Republicans and Democrats will have differing views
:01:06. > :01:08.on whether the state of the country's economy gives cause
:01:09. > :01:13.The self-styled CEO President wants America to grow by 3% a year -
:01:14. > :01:19.With growth currently at just 1.6%, how exactly does he plan on doing
:01:20. > :01:22.Central to his plan is the renegotiation
:01:23. > :01:31.The Trump administration now says that it plans to start talks over
:01:32. > :01:38.the North America Free Trade Agreement as soon as practicable.
:01:39. > :01:41.Similarly, the President has pulled out of a global climate agreement
:01:42. > :01:44.saying he will not be part of a deal that disadvantages US
:01:45. > :01:52.Mr Trump is also trying to push through a new healthcare deal
:01:53. > :01:55.which is estimated to bring federal deficits down by $119 billion -
:01:56. > :01:58.but crucially would also leave 23 million people without health
:01:59. > :02:04.So could these, and other aggressive policies give
:02:05. > :02:08.Well the IMF doesn't think so - they have now downgraded growth
:02:09. > :02:12.With me is Kate Andrews, news editor at the Institute
:02:13. > :02:27.I will start by saying happy Independence Day! How can he get to
:02:28. > :02:34.the 3% target? It is looking more and more like an uphill battle. What
:02:35. > :02:38.is a crucial points of getting that growth rate is getting through tax
:02:39. > :02:42.reforms. Despite the fact that Republicans have a majority, there
:02:43. > :02:46.is so much fighting going on with them and so much disarray that it
:02:47. > :02:50.doesn't seem like those things are going forward at the moment. My
:02:51. > :02:55.guess is that the IMF and others are looking at that and thinking, those
:02:56. > :03:01.targets are not going to be hit. If Donald Trump does not get these
:03:02. > :03:07.major policies through soon, we will not see this occur in time to give
:03:08. > :03:11.him credit for the 3% growth rate. He needs to stop tweeting and deal
:03:12. > :03:16.with the issues on that table. Talking about the trade agreements,
:03:17. > :03:20.he discussed but a lot in his presidential campaign. He said it
:03:21. > :03:25.was a catastrophe. But then after he was let it, he said, actually, he
:03:26. > :03:30.was going to keep it and renegotiate it. We have not heard much since?
:03:31. > :03:34.No, but thank goodness he did a U-turn on that. He wants to
:03:35. > :03:39.renegotiated because he does not like the idea of more imports coming
:03:40. > :03:43.in to America than exports going out. On the fourth of July, I think
:03:44. > :03:49.this really hits home. So many people will be buying cheap hotdogs,
:03:50. > :03:54.sparklers, things for the fourth of July, the truth of the matter is
:03:55. > :04:01.that those cheaper imports reflect on the purchasing power. Consumers
:04:02. > :04:04.are able to purchase those things, and consumer confidence has been
:04:05. > :04:07.brought down so much. When he is threatening those kinds of things,
:04:08. > :04:13.he is threatening the purchasing power of individuals. We have not
:04:14. > :04:17.heard much. My suspicion is that he goes hard on this, and if he takes
:04:18. > :04:23.that Carbone, protectionist attitude, he will continue to hurt
:04:24. > :04:27.growth in America. Tax reforms were also a huge part of his election
:04:28. > :04:32.campaign. He is having trouble getting the health-care bill through
:04:33. > :04:37.Congress. If tax reform is something he could get through, that could
:04:38. > :04:41.deliver him his 3%? What are the chances of him getting it through?
:04:42. > :04:46.Tax reform is where the Republicans should be most united. Most
:04:47. > :04:50.Republicans think that the tax system needs to be simplified,
:04:51. > :04:54.especially things like corporation tax needs to come down to become
:04:55. > :04:58.more competitive. It is very possible that he will get tax reform
:04:59. > :05:04.through. Is he prioritising this rather than attacking news outlets?
:05:05. > :05:11.Can he play the role of the leader? He needs to do that to get his vote
:05:12. > :05:22.on the table. Thank you very much for your time.
:05:23. > :05:24.A new report from the Wharton Business School
:05:25. > :05:27.says venture capitalists who provide funding for start-ups
:05:28. > :05:28.have an inbuilt bias against female entrepreneurs.
:05:29. > :05:33.From New York, Samira Hussain reports.
:05:34. > :05:40.SoulCycle, it's loud, it's dark and it is popular with women. It has
:05:41. > :05:44.propelled this brand from a single studio to a national phenomenon.
:05:45. > :05:49.Soon, it will be available on the public stock exchange. But does its
:05:50. > :05:54.dependence on women speak to the wider trend of women starting female
:05:55. > :05:57.focused companies? I believe ultimately what investors are
:05:58. > :06:02.looking for are businesses with sound fundamentals. Have you driven
:06:03. > :06:06.that you are able to grow your business and are you making returns
:06:07. > :06:11.on your capital? Studies have shown that women are more reluctant to get
:06:12. > :06:15.into business. A good in is solving a problem you have personally faced.
:06:16. > :06:21.That was how an alternative to tampons was born. I never used to be
:06:22. > :06:26.an entrepreneur. I was terrified of becoming one. The likelihood of
:06:27. > :06:32.success is slim to none. I was facing a very deep, profound
:06:33. > :06:40.personal problem, and I knew that I had to solve it. If female
:06:41. > :06:44.entrepreneurs only focus on solving their own problems that are key to
:06:45. > :06:48.women, we are just reinforcing the same stereotypes that have plagued
:06:49. > :06:53.women in business for years. Stereotypes about what men and women
:06:54. > :06:58.are good at, the traits that they possess, they are more exaggerated
:06:59. > :07:02.than reality. In most businesses, men and women are probably equally
:07:03. > :07:09.likely to have the traits needed to be successful is. The perception is
:07:10. > :07:14.worse than the reality. Less than 5% of Fortune 500 companies have female
:07:15. > :07:18.CEOs. While more women than ever are starting businesses, it is still far
:07:19. > :07:22.less than men. If the card is ever going to receive the full benefits
:07:23. > :07:25.of gender equality, everyone will need to rethink what businesses
:07:26. > :07:35.women can succeed in. The Australian central bank has just
:07:36. > :07:38.made its latest policy decision. Let's cross straight over
:07:39. > :07:40.to our Asia business hub in Singapore where
:07:41. > :07:42.Rico Hizon has more. Rico Hizon joins us from our Asia
:07:43. > :07:52.business hub in Singapore. Everyone is awaiting the decision
:07:53. > :07:56.from the reserve bank. It should have come out about eight minutes
:07:57. > :08:00.ago, but there is still no decision. They are probably still deciding
:08:01. > :08:05.whether to keep rates on hold. The expectation is that the Federal bank
:08:06. > :08:11.will sit on interest rates for now. Rates remain at a historic low of
:08:12. > :08:20.1.5%, that is where they have been since August last year. We will be
:08:21. > :08:25.watching very closely for the statement where they will be
:08:26. > :08:29.upgrading their economic outlook. Growth has appeared slightly slower
:08:30. > :08:33.over the last few quarters, many areas hit by the slowdown in
:08:34. > :08:38.commodity prices. Some of them are in recession. Last month, Australia
:08:39. > :08:42.reported gross domestic product for the first quarter rose 17% on the
:08:43. > :08:52.year, which did beat market expectations. With a strengthening
:08:53. > :08:57.jobs to market ratio, it could change course in the coming months.
:08:58. > :09:01.The economic calendar is busy this week, with readings across a
:09:02. > :09:05.poverty, manufacture and trade giving us some direction on how the
:09:06. > :09:13.bank could decide going forward. The general consensus is that the
:09:14. > :09:17.reserve bank will sit for the remainder of the year, and early
:09:18. > :09:22.next year, and they could potentially raise rates by the
:09:23. > :09:26.middle or end of next year. In the next hour of the World Business
:09:27. > :09:30.Report, I should be able to give an update on whether or not the
:09:31. > :09:43.Australian central bank will raise interest rates or not.
:09:44. > :09:47.Don't forget you can get in touch with me and some of the team