:00:00. > :00:18.Scientists were hoping the eclipse would provide an opportunity
:00:19. > :00:24.Now it's time for World Business Report.
:00:25. > :00:27.President Trumps called it horrible and says it needs to be
:00:28. > :00:34.Today it's South Korea's turn at the negotiating table
:00:35. > :00:44.From a $6 billion loss to a $6 billion profit -
:00:45. > :00:47.what a difference a year makes for the mining giant BHP boosted
:00:48. > :00:59.Over the weekend it was Canada and Mexico -
:01:00. > :01:03.now it's the turn of South Korea to try and renegotiate its trade
:01:04. > :01:06.President Trump has described the pact as horrible and has
:01:07. > :01:18.South Korea is America's sixth biggest trading partner.
:01:19. > :01:21.Since the deal called KORUS came into effect five years ago,
:01:22. > :01:24.the US says the trade deficit has doubled from $13.2 billion
:01:25. > :01:28.But some experts say that it could've been even more
:01:29. > :01:44.Supporters applaud the elimination of 95% of tariffs as was closer
:01:45. > :01:49.economic ties generally. Including foreign direct investment into the
:01:50. > :01:53.US, $4.8 billion in 2011 to a record $12.9 billion last year.
:01:54. > :01:56.With me is Harry Colvin, senior market strategist at Longview
:01:57. > :02:09.President Trump is focusing on the trade deficit which you said --
:02:10. > :02:14.which is now more than $27 billion. What is this issue with the deficit
:02:15. > :02:20.and is such a big deficit a bad thing? Deficits can be a thing. Some
:02:21. > :02:25.economies of the large trade deficit are vulnerable because they need to
:02:26. > :02:29.import capital to fund that deficit. Often they have currency crises
:02:30. > :02:34.following that in the case of the US which has the world's reserve
:02:35. > :02:38.currency and a small deficit, it is not a bad thing. The point is, the
:02:39. > :02:43.fallacy of the Trump administration and what they are planning as they
:02:44. > :02:47.believe they can close the trade deficit and bring back manufacturing
:02:48. > :02:51.jobs and that's not entirely clear it will work. There are lots of the
:02:52. > :02:57.common -- economies run surpluses. But they have had a fall in
:02:58. > :03:09.manufacturing jobs. It's not entirely clear this policy will
:03:10. > :03:12.work. Can he cancelled? -- can he cancelled? With Trump, you can see
:03:13. > :03:18.all manner of things happening. You will first try to renegotiate the
:03:19. > :03:22.deal. There are genuine nontariff barriers to entry. There was a
:03:23. > :03:29.report commissioned by an independent folly so there are
:03:30. > :03:33.genuine issues with the deal. Cancelling is probably a last
:03:34. > :03:39.resort. How do South Korea feel about it? From the point of view,
:03:40. > :03:43.how does it work for them? I think it's worked quite well. They have
:03:44. > :03:47.expanded their trade deficit. Their exports have gone up. That is
:03:48. > :03:51.ultimately a good thing that our growth. South Korea is in the unique
:03:52. > :03:57.position geographically, just below North Korea, and there is a strong
:03:58. > :04:02.military presence. Well those factors come into play in these
:04:03. > :04:11.negotiations? Probably not. The North Korean issue is probably a
:04:12. > :04:14.separate one to trade. Thank you very much your time.
:04:15. > :04:18.The mining giant BHP has returned to profit -
:04:19. > :04:20.making almost $5.9 billion over the past twelve months.
:04:21. > :04:23.Strong commodity prices helped it to bounce back from a big
:04:24. > :04:28.The Anglo-Australian firm also says it will look at selling its US shale
:04:29. > :04:31.operations which it says is not part of its core business.
:04:32. > :04:38.This is quite a turn around for BHP - how have they done it?
:04:39. > :04:45.As you say, $5.9 billion profit compared to last year, more than $6
:04:46. > :04:49.billion loss. It's been driven by that increased demand for
:04:50. > :04:55.commodities coming out of China said BHP has enjoyed the rise in iron ore
:04:56. > :05:05.prices. They were something like 32%. Also, an increase in prices or
:05:06. > :05:09.things like copper and coal and nickel, enjoying profits in China --
:05:10. > :05:16.in China. Those profits announced today, not quite hitting the mark.
:05:17. > :05:22.They wanted $6 billion but still good news for the shareholders who
:05:23. > :05:28.will see a tripling of the dividend. BHP have said they might consider
:05:29. > :05:32.selling their US shale operations. It is a big signal to the market and
:05:33. > :05:37.certainly something its shareholders will be pleased about. BHP's
:05:38. > :05:44.experience has not been happy. Something in the region of $14
:05:45. > :05:48.billion it has spent but it is not getting a big return on its
:05:49. > :05:52.investment so before now, it's said this wasn't a good way to spend its
:05:53. > :05:57.money. It doesn't see that the market in the US can be replicated
:05:58. > :06:01.elsewhere. Shale oil is not taking off globally so it's signalled it
:06:02. > :06:05.will not be a core part of its business and it's prepared to sell
:06:06. > :06:09.off. That will give confidence to the shareholders going forward.
:06:10. > :06:13.the British Airline Pilots' Association says it has authorised
:06:14. > :06:15.a strike by Thomas Cook pilots over a pay dispute.
:06:16. > :06:18.The dispute follows nearly eight months of negotiations over a pay
:06:19. > :06:28.The industrial action will happen on September the 8th.
:06:29. > :06:32.Johnson Johnson has been ordered to pay more than $400m to a woman
:06:33. > :06:34.who says she developed ovarian cancer after using products such
:06:35. > :06:40.Johnson Johnson has defended the products' safety and says it
:06:41. > :06:50.This week we're looking at the business of death.
:06:51. > :06:53.Not every new idea in Silicon Valley seeks to disrupt an industry.
:06:54. > :06:57.Dave Lee looks at a couple of novel ways using the latest chat bot
:06:58. > :07:00.technology to both prepare for our own death and remember
:07:01. > :07:12.Thinking about death can be difficult and uncomfortable but I'm
:07:13. > :07:16.trying out a chatbot which takes you through some of the most important
:07:17. > :07:19.questions. Do I want to be resuscitating, do I want family
:07:20. > :07:26.members to pray for me if I'm unconscious? The chatbot, named
:07:27. > :07:33.Emily, is made by small start-up in Oakland called LifeFolder. You do it
:07:34. > :07:36.is a forum, there is a forum now, but these things are not easy to
:07:37. > :07:41.understand and it's easy to be taught to it step by step. At the
:07:42. > :07:45.end of the conversation, Emily will send you an email link which allows
:07:46. > :07:48.you to download a full set of documents. They include legally
:07:49. > :07:53.binding documents you can sign and have witnessed or have them
:07:54. > :07:57.notarised and at that point, they are legally binding in the States we
:07:58. > :08:03.support. Using technology like this could give us a more comfortable and
:08:04. > :08:07.private way to answer difficult questions about the end of our lives
:08:08. > :08:13.and a chatbot allows you to have a vivid memory as well. Are you there?
:08:14. > :08:18.When James learned his father was terminally ill with lung cancer, he
:08:19. > :08:24.set about creating a chat bot which would mimic what his father said in
:08:25. > :08:31.real life. I had some background in this AI technology which was
:08:32. > :08:35.allowing people like me to create something like Dad Bot and very
:08:36. > :08:40.soon, it came to feel like this was something I should do. So this is
:08:41. > :08:43.the raw material? This is the raw material for the Dad Bot. James
:08:44. > :08:48.interviewed his dad about all aspects of his life so the answers
:08:49. > :08:54.were given in character. Let's talk about college. She also recorded him
:08:55. > :08:59.singing his favourite college football songs when words on the
:09:00. > :09:06.screen would not tell the whole story. Do you think there is a
:09:07. > :09:09.business here? I am convinced there is a business around this, just
:09:10. > :09:15.because it is so universal. Everybody has lost somebody, is
:09:16. > :09:20.losing somebody, and is already grasping at every technological
:09:21. > :09:24.means to keep them. But now, James says he intends to use the
:09:25. > :09:31.technology as a private way to remember his father.
:09:32. > :09:36.Asian markets are open and trading - they are up slightly -
:09:37. > :09:40.and the Nikkei were to end lower it would mark a fifth day of decline,
:09:41. > :09:45.the longest losing streak since April 2016.
:09:46. > :09:52.Crude oil prices inched higher, lifted by indications
:09:53. > :09:55.that supply is gradually tightening, especially in the United States.
:09:56. > :10:06.No major economic figrues out this week - instead investors focusing
:10:07. > :10:08.on the annual central banking conference in Jackson Hole in the US