22/08/2017 World Business Report

Scientists were hoping the eclipse would provide an opportunity

Now it's time for World Business Report.

President Trumps called it horrible and says it needs to be

Today it's South Korea's turn at the negotiating table

From a $6 billion loss to a $6 billion profit -

what a difference a year makes for the mining giant BHP boosted

Over the weekend it was Canada and Mexico -

now it's the turn of South Korea to try and renegotiate its trade

President Trump has described the pact as horrible and has

South Korea is America's sixth biggest trading partner.

Since the deal called KORUS came into effect five years ago,

the US says the trade deficit has doubled from $13.2 billion

But some experts say that it could've been even more

Supporters applaud the elimination of 95% of tariffs as was closer

economic ties generally. Including foreign direct investment into the

US, $4.8 billion in 2011 to a record $12.9 billion last year.

With me is Harry Colvin, senior market strategist at Longview

President Trump is focusing on the trade deficit which you said --

which is now more than $27 billion. What is this issue with the deficit

and is such a big deficit a bad thing? Deficits can be a thing. Some

economies of the large trade deficit are vulnerable because they need to

import capital to fund that deficit. Often they have currency crises

following that in the case of the US which has the world's reserve

currency and a small deficit, it is not a bad thing. The point is, the

fallacy of the Trump administration and what they are planning as they

believe they can close the trade deficit and bring back manufacturing

jobs and that's not entirely clear it will work. There are lots of the

common -- economies run surpluses. But they have had a fall in

manufacturing jobs. It's not entirely clear this policy will

work. Can he cancelled? -- can he cancelled? With Trump, you can see

all manner of things happening. You will first try to renegotiate the

deal. There are genuine nontariff barriers to entry. There was a

report commissioned by an independent folly so there are

genuine issues with the deal. Cancelling is probably a last

resort. How do South Korea feel about it? From the point of view,

how does it work for them? I think it's worked quite well. They have

expanded their trade deficit. Their exports have gone up. That is

ultimately a good thing that our growth. South Korea is in the unique

position geographically, just below North Korea, and there is a strong

military presence. Well those factors come into play in these

negotiations? Probably not. The North Korean issue is probably a

separate one to trade. Thank you very much your time.

The mining giant BHP has returned to profit -

making almost $5.9 billion over the past twelve months.

Strong commodity prices helped it to bounce back from a big

The Anglo-Australian firm also says it will look at selling its US shale

operations which it says is not part of its core business.

This is quite a turn around for BHP - how have they done it?

As you say, $5.9 billion profit compared to last year, more than $6

billion loss. It's been driven by that increased demand for

commodities coming out of China said BHP has enjoyed the rise in iron ore

prices. They were something like 32%. Also, an increase in prices or

things like copper and coal and nickel, enjoying profits in China --

in China. Those profits announced today, not quite hitting the mark.

They wanted $6 billion but still good news for the shareholders who

will see a tripling of the dividend. BHP have said they might consider

selling their US shale operations. It is a big signal to the market and

certainly something its shareholders will be pleased about. BHP's

experience has not been happy. Something in the region of $14

billion it has spent but it is not getting a big return on its

investment so before now, it's said this wasn't a good way to spend its

money. It doesn't see that the market in the US can be replicated

elsewhere. Shale oil is not taking off globally so it's signalled it

will not be a core part of its business and it's prepared to sell

off. That will give confidence to the shareholders going forward.

the British Airline Pilots' Association says it has authorised

a strike by Thomas Cook pilots over a pay dispute.

The dispute follows nearly eight months of negotiations over a pay

The industrial action will happen on September the 8th.

Johnson Johnson has been ordered to pay more than $400m to a woman

who says she developed ovarian cancer after using products such

Johnson Johnson has defended the products' safety and says it

This week we're looking at the business of death.

Not every new idea in Silicon Valley seeks to disrupt an industry.

Dave Lee looks at a couple of novel ways using the latest chat bot

technology to both prepare for our own death and remember

Thinking about death can be difficult and uncomfortable but I'm

trying out a chatbot which takes you through some of the most important

questions. Do I want to be resuscitating, do I want family

members to pray for me if I'm unconscious? The chatbot, named

Emily, is made by small start-up in Oakland called LifeFolder. You do it

is a forum, there is a forum now, but these things are not easy to

understand and it's easy to be taught to it step by step. At the

end of the conversation, Emily will send you an email link which allows

you to download a full set of documents. They include legally

binding documents you can sign and have witnessed or have them

notarised and at that point, they are legally binding in the States we

support. Using technology like this could give us a more comfortable and

private way to answer difficult questions about the end of our lives

and a chatbot allows you to have a vivid memory as well. Are you there?

When James learned his father was terminally ill with lung cancer, he

set about creating a chat bot which would mimic what his father said in

real life. I had some background in this AI technology which was

allowing people like me to create something like Dad Bot and very

soon, it came to feel like this was something I should do. So this is

the raw material? This is the raw material for the Dad Bot. James

interviewed his dad about all aspects of his life so the answers

were given in character. Let's talk about college. She also recorded him

singing his favourite college football songs when words on the

screen would not tell the whole story. Do you think there is a

business here? I am convinced there is a business around this, just

because it is so universal. Everybody has lost somebody, is

losing somebody, and is already grasping at every technological

means to keep them. But now, James says he intends to use the

technology as a private way to remember his father.

Asian markets are open and trading - they are up slightly -

and the Nikkei were to end lower it would mark a fifth day of decline,

the longest losing streak since April 2016.

Crude oil prices inched higher, lifted by indications

that supply is gradually tightening, especially in the United States.

No major economic figrues out this week - instead investors focusing

on the annual central banking conference in Jackson Hole in the US