Browse content similar to 08/08/2017. Check below for episodes and series from the same categories and more!
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overthrew the government three years ago. | :00:00. | 3:59:59 | |
Now it's time for World Business Report. | :00:00. | :00:15. | |
Could a vote by secret ballot oust South Africa's president, | :00:16. | :00:18. | |
We talk you through what's at stake. | :00:19. | :00:26. | |
Plus formula milk is big business in Hong Kong. | :00:27. | :00:29. | |
We assess the obstacles there to breast-feeding. | :00:30. | :00:40. | |
China's appetite for stout beer is soaring. | :00:41. | :00:47. | |
faces another vote of no confidence in parliament. | :00:48. | :00:58. | |
This time it will be a secret ballot. | :00:59. | :01:01. | |
Mr Zuma has been under constant pressure over everything | :01:02. | :01:03. | |
from corruption allegations to a controversial cabinet reshuffle | :01:04. | :01:10. | |
that saw his widely respected finance minister, Pravin Gordhan, | :01:11. | :01:13. | |
That prompted two credit rating agencies, Standard Poor's | :01:14. | :01:18. | |
and Fitch, to downgrade South Africa's credit worthiness | :01:19. | :01:20. | |
to junk, hugely increasing borrowing costs. | :01:21. | :01:28. | |
And in June, the economy, once the continent's largest, | :01:29. | :01:30. | |
fell into a second recession in a decade. | :01:31. | :01:33. | |
Figures out yesterday show the country's unemployment rate | :01:34. | :01:35. | |
remained unchanged at close to 28% in the second quarter. | :01:36. | :01:41. | |
That's about five million more than in 2009. | :01:42. | :01:48. | |
With me is William Attwell, senior analyst, Sub-Saharan Africa | :01:49. | :01:51. | |
Nice to see you again, William. Thanks for having me on. What do you | :01:52. | :02:04. | |
think will be the outcome of this boat? He is known as the great | :02:05. | :02:09. | |
survivor. Will he survive again? Yes, so essentially Jacob Zuma is | :02:10. | :02:16. | |
fairly safe actually. He has had nine votes of no confidence before | :02:17. | :02:20. | |
and survived all of them. This is of course different with the secret | :02:21. | :02:23. | |
ballot, which the opposition says would protect those ANC MPs who | :02:24. | :02:29. | |
might vote against him. Certainly there are several MPs who've come | :02:30. | :02:33. | |
out very publicly, saying they would vote with the opposition, but | :02:34. | :02:37. | |
ultimately, within the party, the majority of the MPs, the opposition | :02:38. | :02:41. | |
would need 50 to vote with them, but they are not going to get those | :02:42. | :02:44. | |
numbers, simply because of those MPs fearing a backlash through some sort | :02:45. | :02:51. | |
of internal investigation later. So what will finally toppled Jacob Zuma | :02:52. | :02:56. | |
then? I know he is stepping down as head of the ANC in September this | :02:57. | :03:01. | |
year, but he remains president in theory since 2019. I suppose Zexit, | :03:02. | :03:09. | |
as you could call it, will happen. It's a matter of when rather than | :03:10. | :03:16. | |
if. Till 2019, he will hope to stay in power by having his former wife | :03:17. | :03:19. | |
the head of the party, which he hopes will protect him, perhaps | :03:20. | :03:24. | |
allow him to stay on Npower little longer, and hopefully avoid | :03:25. | :03:27. | |
prosecution in his eyes. In the meantime, what will happen to the | :03:28. | :03:31. | |
South African economy? It's taken quite a heavy hit. We mentioned the | :03:32. | :03:39. | |
event, Pravid Gordan being shuffled out of his position. You mentioned | :03:40. | :03:47. | |
the rand, just after the secret ballot was announced, it increased | :03:48. | :03:52. | |
2% against the dollar. Essentially any meaningful reforms that can | :03:53. | :03:56. | |
improve the economic situation, we are forecasting considerably less | :03:57. | :03:59. | |
than 1% growth this year. Basically all reforms that would help redress | :04:00. | :04:05. | |
the situation are off the table. Internal politicking will dominate | :04:06. | :04:08. | |
the headlines for the next five months. Thank you very much. Of | :04:09. | :04:13. | |
course we will give you the outcome of that secret ballot as an when it | :04:14. | :04:16. | |
happens in South Africa. Apparently it is now eclipsing | :04:17. | :04:17. | |
the American market. Rico Hizon is in our | :04:18. | :04:21. | |
Asia Business Hub in Singapore. So nice to have you back. | :04:22. | :04:30. | |
You've been missed. Great to be back! It's a lovefest here... | :04:31. | :04:38. | |
Goodness me. Chinese drinkers will consume more than 216 million litres | :04:39. | :04:44. | |
of stout beer this year, and that number will surpass the United | :04:45. | :04:48. | |
States as the top market for this dark brew worldwide, and this is | :04:49. | :04:58. | |
according to the latest report from Euromonitor International. For our | :04:59. | :05:01. | |
viewers who don't know what stout beer is, it's a dark beer using | :05:02. | :05:05. | |
roasted malts, barley, hops, water and yeast, so American drinkers had | :05:06. | :05:09. | |
previously taken the crown from the British in 2013, but now both | :05:10. | :05:14. | |
markets are just growing at a fraction of the pace in China, where | :05:15. | :05:21. | |
brewers such as Diageo and Guinness have benefited from growth of more | :05:22. | :05:28. | |
than tenfold over the last four years, so they are projecting | :05:29. | :05:31. | |
Chinese demand will more than double to around 660 million litres by | :05:32. | :05:38. | |
2021. I'm not a beer drinker, Sally, so for all stout beer drinkers, | :05:39. | :05:43. | |
well, this is good news. That's a heck of a lot of beer, I | :05:44. | :05:47. | |
have to say! It's good for the manufacturers... | :05:48. | :05:49. | |
Thank you. And now it's time for the next | :05:50. | :05:51. | |
instalment Today we focus on the great debate | :05:52. | :05:53. | |
about breast-feeding In Hong Kong formula is proving | :05:54. | :05:57. | |
to be a lucrative business and breast-feeding rates are among | :05:58. | :06:01. | |
the lowest in the world. Juliana Liu has been | :06:02. | :06:04. | |
finding out why. Sometimes, professional assistance | :06:05. | :06:16. | |
is needed to help a new man achieve that perfect latch. Yes. Lactation | :06:17. | :06:26. | |
consultant Christine Lam has been teaching breast-feeding for 20 | :06:27. | :06:29. | |
years. It's still an uphill battle. Quite a lot of mothers in hospital. | :06:30. | :06:34. | |
The breast-feeding rate on discharge is very high that when they go home | :06:35. | :06:39. | |
it will drop. Nearly all mothers are breast-feeding on discharge from | :06:40. | :06:43. | |
hospital in Hong Kong but that rate falls to a third when their babies | :06:44. | :06:47. | |
are four months old, one of the lowest rates in the world. Locally, | :06:48. | :06:51. | |
this is the average for babies under six months old. One of the reasons | :06:52. | :06:57. | |
for the low rates in Hong Kong is the ubiquitous advertising | :06:58. | :07:03. | |
artificial baby milk. Two years ago, formula makers spent $370 million on | :07:04. | :07:07. | |
advertising, nearly as much as the Health Department spent on disease | :07:08. | :07:11. | |
prevention for all ages, according to a group funded by UNICEF. That | :07:12. | :07:16. | |
amount is set to fall after the official launch this summer on a | :07:17. | :07:19. | |
voluntary code that restrict the marketing of infant formula. The | :07:20. | :07:24. | |
city's top health official says the goal is to protect breast-feeding. | :07:25. | :07:30. | |
And, if there are problems in running this code, using this | :07:31. | :07:34. | |
voluntary nature, then obviously we would consider whether or not that | :07:35. | :07:41. | |
legislation should be in place. New man Sheena Shen uses the guidelines. | :07:42. | :07:48. | |
She is breast-feeding her one-month-old baby but admits | :07:49. | :07:53. | |
continuing will be a challenge. It's difficult to breastfeed as a mother | :07:54. | :07:57. | |
because of short maternity leave. It's just ten weeks and I had to | :07:58. | :08:03. | |
work six weeks after birth. At a pro breast-feeding event, mothers here | :08:04. | :08:07. | |
agree that short maternity leave a long working hours and a lack of | :08:08. | :08:10. | |
sleep are all obstacles. They say the government guidelines will help | :08:11. | :08:15. | |
but, on their own, they are far from enough. | :08:16. | :08:17. | |
Do you think it is fair that formula milk brands | :08:18. | :08:21. | |
The Google employee who wrote a memo critical of the firm's diversity | :08:22. | :08:35. | |
initiatives has been fired from the company. | :08:36. | :08:38. | |
A male software engineer argued the lack of women in top tech jobs | :08:39. | :08:42. | |
was due to biological differences between men and women. | :08:43. | :08:47. | |
Google's chief executive responded by saying the contents of the memo | :08:48. | :08:50. | |
However, portions of the memo crossed the line. | :08:51. | :08:57. | |
The world's biggest hotel chain will partner with Alibaba to tap | :08:58. | :09:00. | |
into the growing number of Chinese tourists. | :09:01. | :09:02. | |
Marriott International says the joint venture will allow Chinese | :09:03. | :09:05. | |
travellers to book rooms using Alibaba's travel website. | :09:06. | :09:10. | |
They'll also be able to pay for their hotel bookings | :09:11. | :09:13. | |
Chinese travellers are expected to take roughly 700 million trips | :09:14. | :09:19. | |
Tesla plans to raise $1.5 billion to pay for production | :09:20. | :09:29. | |
By the sounds of it, many will be drinking stout beer on their | :09:30. | :09:37. | |
holidays as well! Let's look at the markets: | :09:38. | :09:43. | |
Basically, these markets have been going up, up and up, so no | :09:44. | :09:50. | |
surprises, a slight fall in Asia today, but look at the Dow, going | :09:51. | :09:56. | |
higher and higher again. I'll see you again very soon. | :09:57. | :09:59. |