tv World Business Report BBC News January 11, 2017 5:30am-5:46am GMT
this is bbc news, the headlines: president obama has given his farewell address to the nation. in a farewell speech to supporters in chicago. mr obama listed achievements including economic growth, the nuclear deal with iran and legalising same—sex marriage. but he also warned of continuing threats to us democracy, including inequality and racism. mr obama praised the armed forces for, in his words, taking out tens of thousands of terrorists, including osama bin laden. donald trump has complained of a political witch hunt against him after unconfirmed reports emerged in the us media that russian intelligence had gathered compromising information about him. the claims are unsubstantiated. ajury in the united states has sentenced to death a white supremacist who killed nine black worshippers in a south carolina church. dylann roof was convicted last month of more than thirty charges including hate crimes. now for the latest financial news with sally bundock
and world business report. as donald trump gets ever closer to the white house, will he heed calls to step down from his vast business empire once he becomes us president and put his assets in a blind trust? and where in the world will there be growth in 2017? the world bank says brazil and russia will prosper despite the shadow of uncertainty from the united states. welcome to world business report. i'm sally bundock. also in the programme: vw is on the verge of parking the
emissions scandal in the united states. details in just emissions scandal in the united states. details injust a moment. in the last few hours we've heard president obama's farewell speech with just over a week left in charge of the world's biggest economy. later today his successor donald trump will give a long—awaited press conference, his first since winning the white house in november. and there are still questions about how he will separate himself from his vast business interests. in his latest disclosure, the president—elect revealed interests in 144 companies. these have had dealings in least 25 countries in asia, europe, africa, south america and north america. democratic party politicians are amongst those to express concerns this could influence his policies towards some of those countries. he derives much of his income from developing real estate and operating golf courses in the us, britain, ireland and the united arab emirates. but he also makes money licensing the trump name to property developers around the world.
some of those projects have been engulfed in controversy. however, it should be noted that as president he is legally allowed to continue to run his businesses. but previous presidents have put their businesses into blind trusts to prevent conflict of interests or the perception of them. i'm outside a0 wall st in front of a building that is managed by the trump 0rganisation, effectively making mrtrump the trump 0rganisation, effectively making mr trump the landlord. trouble is, several of the tenants inside this building are being investigated by government regulators, and if they're found guilty of any wrongdoing, they could stop operating, which means they would no longer be paying rent to mr trump. but as president, mr trump could push for more lenient
sentences or could push for more lenient sentences oi’ make could push for more lenient sentences or make the charges go away, effectively ensuring he continues to make money. if we make oui’ continues to make money. if we make our way further uptown, we find ourselves at deutsche bank, one of mr trump's biggest lenders. the german bank continued to work with him even as several of his businesses went bankrupt. deutsche bank is also facing billions of dollars in fines from the us government, stemming from the financial crisis. regulators could rule with a softer touch given the bank's history with the president—elect. we need to make one more stop on our new york tour. i've shown you two examples of potential conflicts but move overjust a few blocks and you end up at ground zero for the trump business empire, with the potential conflicts of interest multiplied many times over. the company's multiplied many times over. the compa ny‘s massive global multiplied many times over. the company's massive global holdings and international ties mean opportunities for corruption go far
beyond new york city. foreign countries could question how their treatment of the president—elect‘s business interests will impact diplomatic relations. this is truly unprecedented territory for an american president. democrats are proposing legislation that would force mr trump proposing legislation that would force mrtrump and proposing legislation that would force mr trump and his family to sell any assets that could pose any conflicts. but without republican support it is unlikely to pass. samira hussain, bbc news, new york. with me is allyson stewart—allen, chief executive of international marketing partners who help companies develop in overseas markets and in the us in particular. nice to see you. we've outlined some of the issues, it is what everyone wa nts to of the issues, it is what everyone wants to know in the press conference, what he will do about his business empire. what do you think he will say? i think he's going to be a bit vague because he was asked in the campaign about his tax returns and there wasn't a concrete a nswer tax returns and there wasn't a concrete answer given. legally he can continue to run his businesses,
but perception is everything and when you are trying to engender the trust of the american people from day one, as a new president, you probably want to go into that office not on the back foot but from a position of strength with a mandate that people say... you have our mandate and our vote, we trust you and trust is the key word here. he's going to have to do something more than just going to have to do something more thanjust a going to have to do something more than just a token gesture. it's not just about him but about his daughter and his son—in—law and the various family members who have been involved in running his businesses with him for years. they would also have to step back? if you want to be... if you want to get the perception that you're doing things by the book and ethically then a conflict of interest means that you are... you don't have your own family members in the next. by having your family members
family members in the next. by having yourfamily members in family members in the next. by having your family members in the mix your obviously compromised, you have an interest. —— members in the mix. it's about not having an interest fundamentally. what are you advising companies that approach you about dealing with the us from here on in? of course it's difficult to know what a trump presidency will be like when it comes to trade and protectionism, all those issues. absolutely. in the case of my clients, i'm recommending it is business as usual until we know whether there will be import tariffs, what taxation regime we are looking at once he's in. the ambiguity is high and therefore companies can't sit and wait. they still need to go for the opportunities that the us afford them and during this time that we are still trying to figure out where he's coming from, used to have to go after and build your business in the country, so it shouldn't put people off or stop them. we will watch this
space and i will talk to you about it in the future. thank you for coming in this morning. so that's what's ahead for donald trump but what about the rest of the world? the world bank is predicting 2017 is going to be a difficult year for achieving one of its main aims of cutting extreme poverty. but it expects the global economy to grow by two point 7% mainly thanks to improvements in emerging markets such as brazil and russia. india is also expected to do well. but what about the world's two biggest economies, china and the united states, where the new president's policies remain unclear. we know one thing, it could be one way or another, some kind of tax reduction on the corporate income side and personal income side as well. if we just simply focus on those tax cuts, that will translate into high growth in the united states as well as higher growth in the global economy. having said that
there are many caveats, china is going to continue its slowdown, we expect growth to be around 6.5%. authorities have done a remarkable job taking this economy, growing at de double—digit rates to the rates we see now. let's cross to our asia business correspondent karishma vaswani. tell us more about the world bank report. as you were saying and as we heard from the world bank a few minutes ago, the key focus in this pa rt minutes ago, the key focus in this part of the world is china, the second largest economy and the world bank says it will make that gradual slowdown to 6.5% this year, keeping in line with the broad estimates we have seen from the chinese government. the government expects the economy to slow down to around 6.7% this year. the king and the rest of asia, the world bank says emerging economies will do better than last year, pointing to above a% for the region excluding china. ——
looking at. that's better than what we saw in 2016. that's largely on the back of commodity prices, we seen a the back of commodity prices, we seen a pickup there over the last few months. that is helping emerging market economies like indonesia and malaysia. thanks very much indeed, karishma vaswani, in our bureau in singapore. that is it from wbr. prosecutors in the us have charged three uk based former currency traders with trying to rig foreign exchange rates, they worked at morgan, citigroup and barclays. you can see more on that online and you can see more on that online and you can read about volkswagen's advisory board said to me today to sign of an agreement with the us department of justice and customs. as soon as we get news on that we will update you. thanks for watching and i will see you ina thanks for watching and i will see you in a moment to review the press. senior doctors are warning that a shortage of resources might leave
the nhs in england unable to cope with this winter's demand. in a letter to theresa may, the royal college of physicians said patient care was under threat. and charities working with elderly and disabled people are calling for a long—term solution to funding for health and social care. 0ur health correspondent robert pigott. the royal college of physicians said ambulances queueing outside hospitals were visual testament to the crisis in the nhs. the royal college, which represents 33,000 specialist hospital doctors, said patients based lengthening waits on lists, on trolleys, in accident and emergency departments and at home. it blamed a shortage of qualified staff, stretched too thin lead to meet the increasing demands. our members fear that people's lives are at risk because they can't get round to see the patients that aren't yet
in the emergency department or indeed are waiting for results to come back. members and fellows have been writing in and our council members specifically have said to me this is the worst they have ever seen. this is the worst they have ever seen. most urgent, said the doctors, is investment in social care to prevent medically fit patients being trapped in hospitals. in their own letter to the prime minister, 75 charities and individuals working in health and social care said there must be a long—term cross—party solution to what they called the crisis in funding. led by the cherokee independent age, they said: the department of health said it had invested £10 billion to develop health services and relieve pressure on hospitals. and, since last year, had recruited 3000 extra nurses and 1600 more doctors. robert pigott,
bbc news. i'm adnan nawaz. the top stories this hour: president obama has given his farewell address to the nation. in a farewell speech to supporters in chicago, mr obama listed achievements including economic growth, the nuclear deal with iran and legalising same—sex marriage. but he also warned of continuing threats to us democracy, including inequality and racism. mr obama praised the armed forces for, in his words, taking out tens of thousands of terrorists, including osama bin laden. donald trump has complained of a political witch hunt against him after unconfirmed reports emerged in the us media that russian intelligence had gathered compromising information about him. the claims are unsubstantiated. ajury in the united states has sentenced to death a white supremacist who killed nine black worshippers in a south carolina church.
dylann roof was convicted last month of more than thirty charges us president barack obama has given his farewell speech in chicago, where he reflected on his time in office. he said, "by almost every measure, america is a better, stronger place" than it was eight years ago. the times reports uk labour leaderjeremy corbyn has backed a plan to limit pay at companies with government contracts and has proposed increasing income tax for higher earners. the ft says deutsche bank is turning to social media feeds such as twitter to find promising millennials who could be persuaded to consider a career in finance. the gulf news carries the decision by fifa to expand the world cup to a8 teams by 2026. president gianni infantino sais, "we have to shape the world cup of the 21st century." and finally, do you suffer noisy conversations from office colleagues you wish you could somehow switch off? well the newly invented hushme could be your salvation. resembling a pair of headphones the device covers a persons mouth and cancels out all noise while letting the wearer to continue to talk and listen on the phone. we can't do that on the tv. u nfortu nately, if we