04/07/2017 World Business Report

Now it's time for World Business Report.

It's 241 years to the day since the US founding fathers signed

the Declaration of Independence - now, there's another man in charge.

As global leaders prepare to meet later this week,

we'll look at whether Donald Trump's policies are a step forward

And we'll look at the issues facing female entrepreneurs

after a new report points to a glass ceiling in start-up funding.

We'll hear from a leading businesswoman whose billion dollar

business is set to list on the New York Stock Exchange.

It's the fourth of July and while Americans will be taking

the day off to mark Independence Day,

the Republicans and Democrats will have differing views

on whether the state of the country's economy gives cause

The self-styled CEO President wants America to grow by 3% a year -

With growth currently at just 1.6%, how exactly does he plan on doing

Central to his plan is the renegotiation

The Trump administration now says that it plans to start talks over

the North America Free Trade Agreement as soon as practicable.

Similarly, the President has pulled out of a global climate agreement

saying he will not be part of a deal that disadvantages US

Mr Trump is also trying to push through a new healthcare deal

which is estimated to bring federal deficits down by $119 billion -

but crucially would also leave 23 million people without health

So could these, and other aggressive policies give

Well the IMF doesn't think so - they have now downgraded growth

With me is Kate Andrews, news editor at the Institute

I will start by saying happy Independence Day! How can he get to

the 3% target? It is looking more and more like an uphill battle. What

is a crucial points of getting that growth rate is getting through tax

reforms. Despite the fact that Republicans have a majority, there

is so much fighting going on with them and so much disarray that it

doesn't seem like those things are going forward at the moment. My

guess is that the IMF and others are looking at that and thinking, those

targets are not going to be hit. If Donald Trump does not get these

major policies through soon, we will not see this occur in time to give

him credit for the 3% growth rate. He needs to stop tweeting and deal

with the issues on that table. Talking about the trade agreements,

he discussed but a lot in his presidential campaign. He said it

was a catastrophe. But then after he was let it, he said, actually, he

was going to keep it and renegotiate it. We have not heard much since?

No, but thank goodness he did a U-turn on that. He wants to

renegotiated because he does not like the idea of more imports coming

in to America than exports going out. On the fourth of July, I think

this really hits home. So many people will be buying cheap hotdogs,

sparklers, things for the fourth of July, the truth of the matter is

that those cheaper imports reflect on the purchasing power. Consumers

are able to purchase those things, and consumer confidence has been

brought down so much. When he is threatening those kinds of things,

he is threatening the purchasing power of individuals. We have not

heard much. My suspicion is that he goes hard on this, and if he takes

that Carbone, protectionist attitude, he will continue to hurt

growth in America. Tax reforms were also a huge part of his election

campaign. He is having trouble getting the health-care bill through

Congress. If tax reform is something he could get through, that could

deliver him his 3%? What are the chances of him getting it through?

Tax reform is where the Republicans should be most united. Most

Republicans think that the tax system needs to be simplified,

especially things like corporation tax needs to come down to become

more competitive. It is very possible that he will get tax reform

through. Is he prioritising this rather than attacking news outlets?

Can he play the role of the leader? He needs to do that to get his vote

on the table. Thank you very much for your time.

A new report from the Wharton Business School

says venture capitalists who provide funding for start-ups

have an inbuilt bias against female entrepreneurs.

From New York, Samira Hussain reports.

SoulCycle, it's loud, it's dark and it is popular with women. It has

propelled this brand from a single studio to a national phenomenon.

Soon, it will be available on the public stock exchange. But does its

dependence on women speak to the wider trend of women starting female

focused companies? I believe ultimately what investors are

looking for are businesses with sound fundamentals. Have you driven

that you are able to grow your business and are you making returns

on your capital? Studies have shown that women are more reluctant to get

into business. A good in is solving a problem you have personally faced.

That was how an alternative to tampons was born. I never used to be

an entrepreneur. I was terrified of becoming one. The likelihood of

success is slim to none. I was facing a very deep, profound

personal problem, and I knew that I had to solve it. If female

entrepreneurs only focus on solving their own problems that are key to

women, we are just reinforcing the same stereotypes that have plagued

women in business for years. Stereotypes about what men and women

are good at, the traits that they possess, they are more exaggerated

than reality. In most businesses, men and women are probably equally

likely to have the traits needed to be successful is. The perception is

worse than the reality. Less than 5% of Fortune 500 companies have female

CEOs. While more women than ever are starting businesses, it is still far

less than men. If the card is ever going to receive the full benefits

of gender equality, everyone will need to rethink what businesses

women can succeed in. The Australian central bank has just

made its latest policy decision. Let's cross straight over

to our Asia business hub in Singapore where

Rico Hizon has more. Rico Hizon joins us from our Asia

business hub in Singapore. Everyone is awaiting the decision

from the reserve bank. It should have come out about eight minutes

ago, but there is still no decision. They are probably still deciding

whether to keep rates on hold. The expectation is that the Federal bank

will sit on interest rates for now. Rates remain at a historic low of

1.5%, that is where they have been since August last year. We will be

watching very closely for the statement where they will be

upgrading their economic outlook. Growth has appeared slightly slower

over the last few quarters, many areas hit by the slowdown in

commodity prices. Some of them are in recession. Last month, Australia

reported gross domestic product for the first quarter rose 17% on the

year, which did beat market expectations. With a strengthening

jobs to market ratio, it could change course in the coming months.

The economic calendar is busy this week, with readings across a

poverty, manufacture and trade giving us some direction on how the

bank could decide going forward. The general consensus is that the

reserve bank will sit for the remainder of the year, and early

next year, and they could potentially raise rates by the

middle or end of next year. In the next hour of the World Business

Report, I should be able to give an update on whether or not the

Australian central bank will raise interest rates or not.

Don't forget you can get in touch with me and some of the team