tv World Business Report BBC News January 31, 2017 5:30am-5:46am GMT
this is bbc world news. the headlines: donald trump has fired the country's top legal adviser, acting attorney—general sally yates. she had ordered justice department lawyers not to defend the president's travel restrictions in court, saying she wasn't convinced they were legal. a white house statement accused her of betrayal. the restrictions, banning travellers from seven mainly—muslim countries from entering the us, have prompted mass protests. an investigation by bbc news has exposed a global network of traffickers selling baby chimpanzees. the animals are seized from the wild in west africa and sold as pets in places as far away as the gulf and china. russia's upper house of parliament is expected to pass a law reducing the penalty for those found guilty of domestic abuse. first—time offenders, whose victims don't need hospital treatment, will no longer face a prison sentence. it is thought that more than 600 women are killed at home in russia every month.
now for the latest financial news, with sally bundock and world business report. microsoft, amazon and expedia team up with washington state in a bid to defeat president trump's travel ban, saying it is unconstitutional and damages the economy. more fines for deutsche bank, this time for its connections with a russian money—laundering plan. welcome to world business report. i'm sally bundock. also in the programme: shares in sony fall during trade in tokyo. rico will have the details. but first: technology giants are ramping up their battle against president trump's travel ban.
washington state's attorney—general is filing a lawsuit arguing the ban, which covers seven countries, is unconstitutional. amazon and expedia have both made court submissions on how the executive order is impacting their businesses. microsoft is also backing the lawsuit which aims to overturn the travel ban, and will even testify if needed. and it is notjust tech firms. ford's chief executive, mark fields, has said we do not support this policy, or any other that goes against our values as a company. big investment banks includingjp morgan chase and goldman sachs have also spoken out. marianne schneider—petsinger is with the us and the americas programme at chatham house. good to see you. so this is becoming more interesting, isn't it? now washington state is going ahead with the legal battle, how will this play
out, do you think? it will be interesting to see and we have already seen that trump takes this very seriously and it will be interesting to see the continued reaction we will see from the business community. as you mentioned, the tech sector has very strongly come out and said they do not support the measures that were implemented. but others, star bucks, for example, or ford, have also come out. i would say it is much more measured, the response you have seen from them. but taking that legal action is stepping up a gear. i suppose it is the only route the likes of microsoft and others can ta ke likes of microsoft and others can take in this situation. they can ta ke take in this situation. they can take that route, but overall it is a very fine line to walk. by stepping out like that they draw fire from a president who is known to draw fire on twitter from —— towards various
different companies. so again, it is a very fine line to walk. and for the technology companies like amazon, google or microsoft, key members of staff are really critical to them, aren't they? it is about the innovators, who may not necessarily be home—grown. the innovators, who may not necessarily be home-grown. yes, for the tech industry in particular, the kind of people with it degrees or engineering degrees are vital to them. they rely on those skills from abroad. it is also a personal story for any of them. the late founder of apple, he is the son of assyrian migrant many of the microsoft and google ceo is have indian roots so it isa google ceo is have indian roots so it is a very personal story to them as well. and how damaging is all of this to brand america? it is the story which is dominating globally, this particular issue, the ban on
travel. i think it does raise questions about the image of the united states, and soft power is a key component of that, and it does raise questions about how the united states is seen abroad as a beacon of talent. can you really go to the united states regardless of your religion, regardless of where you are coming from, and make itjust depending on talent? the other thing is for a brand made in the usa, is that something which is seen as beneficial or if you are producing in the united states is that seen as a detriment? is that seen as made in america... great again? we appreciate you coming in and giving us appreciate you coming in and giving us your thoughts on that. as you know, this story is developing and changing all the time and we will keep you right up to date here on the bbc, online, on tv and on radio. but now let's talk about deutsche
bank. germany's deutsche bank has been hit with hundreds of millions of dollars' worth of fines. it is all in relation to a russian money—laundering scheme which netted billions of dollars. alex ritson is on the story for us. tell us more. hello, sally. yes, a fine of $630 million, 430 million dollars going to local authorities, the accusation is that between 2011 and 2015 a group of deutsche bank executives based mainly in moscow and london helped wealthy russians to send money overseas by arranging stock trades that had no economic purpose other than disguising what the client was doing. these are known as mirror trades. clients would purchase stocks in rubles in moscow and at the same time their clients would sell the same stock at the same price of the london office. it is not illegal in itself but according to the us regulator that this is highly suggestive of financial crime. and under the
scheme the bank helped clients moved $10 billion out of russia. thank you very much indeed. more bad news for deutsche bank today. in other news: japan's central bank has finished its first meeting of the year by leaving interest rates unchanged, but upgraded its forecasts for the world's third—biggest economy. the bank of japan cited rising exports, easy lending conditions and stronger government spending ahead of the 2020 olympics for the improvement. the former brazilian oil and mining tycoon eike batista has been transferred to a high—security prison in rio dejaneiro after being arrested on arrival from new york. once brazil's richest man, he has been accused of paying millions of dollars in bribes to secure contracts with rio's state government. mr batista has denied any wrongdoing. general motors and honda say they willjointly produce hydrogen fuel cell power systems in the us from 2020. the firms say they will invest $85 million each to expand a production line in michigan. the firm says the fuel cells could be used in self—driving cars,
as well as by ride—sharing services. shares in sony fell by as much as 4% during early trade in tokyo today. let's head to rico hizon is in singapore. nice to see you. what is going on with sony? well, you know, the bottomline is their lower earnings guidance is battering their stock price in tokyo, sally. it is down by 496. price in tokyo, sally. it is down by 4%. a major write—down of its movie business by more than $1 billion from the october to december quarter depressing investors right now and i am sure you have seen depressing investors right now and i am sure you have seen some depressing investors right now and i am sure you have seen some of their major releases such as ghostbusters, angry birds, and the da vinci code
sequel, inferno, they failed to ignite cinema—goers in the global box office and sony is blaming weak profits on online streaming services, which drained demand for movies, dvds, blu—ray discs and other home entertainment services. they have always been talking about their turnaround plan and this is also currently not exciting investors. they are planning to strengthen markets outside the us, including india and china, improving intellectual property and offloading non—core businesses, which is not giving the share price boost this point. the company expects releases this year including spider—man the movie, due to be released mid—year, and everyone is waiting for the final numbers of sony, which will be released on the second of february. we will have to see what the final numbers are. lovely to see you. let's see how markets are doing in
asia. this will be a really quiet week for asia. australia's open, japan is open, and we have some of the markets, malaysia for example. in south korea is open today. most of the other markets like china and hong kong are close to the chinese new year holiday break. mainland china, no action at all this week. we have some downside on markets. energy shares are low, the oil price has been falling and in the us we saw some losses. n0 has been falling and in the us we saw some losses. no surprise at all, it is in reaction to this travel ban coming from president trump, the impact that may have on stocks listed on the main market in the us. that is all for me now. see you $0011. how do you feel about your home town or city? do you love it, or do you find it boring and wish you could live somewhere else? well, for six months, one man has been criss—crossing the uk making a mood
map of urban britain. 1,000 miles later, dan raven—ellison has collected information it is hoped will show how landscape influences our mood, health, and happiness, and how technology can improve our quality of life. david sillito caught up with him. just so many children. birmingham. far greener than you would imagine. dan is an explorer of urban britain. 2.5 million steps, 69 cities he is crossed, and on every step, this has tracked his emotions. this is an emotive e.g. wearable headset with a series of sensors that are able to detect what is going on inside my brain and can work out if i am stressed, relaxed, focused, interested... —— eeg. and so we agreed to meet in the city that registered higher on interest scale. yes, this is urban stoke. it is
actually an old spoil heap that is 110w actually an old spoil heap that is now a park. ronnie wood is brilliant about walking across the city, especially a city like stoke, is that from the bricks to the graffiti to the trees to the bridges, to the lichen, to the flats, there is so much interest going on, there is so much interest going on, there is so much to enjoy. the ambition is to add other people's emotional responses, to try and create a mood map of our cities. but so far we have dan's data. and with that thought we came to the end of this emotionaljourney thought we came to the end of this emotional journey across urban britain. in the final feeling... confusion as to why we were the only walkers in a place like this. coming up at 6:00asm on breakfast, dan walker and louise minchin will have all the day's news, business and sport. they will also have more on the two days of debate in parliament, starting today, over the government's bill to get the formal process of brexit under way. discussions on the european union bill have been extended to midnight tonight to allow for more speakers, with a vote set to take place late on wednesday.
the top stories this hour: donald trump has fired the country's top legal adviser, acting attorney—general sally yates. she had ordered justice department lawyers not to defend the president's travel restrictions in court, saying she wasn't convinced they were legal. a white house statement accused her of betrayal. an investigation by bbc news has exposed a global network of traffickers selling baby chimpanzees. the animals are seized from the wild in west africa, and sold as pets in places as far away as the gulf and china. we are going to be now news review with some british reaction to donald trump's temporary travel ban, because the front page of the guardian has a picture and is also recording on the thousands of people
across the united kingdom who demonstrated against the president's executive order. prime minister theresa may has defended her decision to invite mr trump to britain on a state visit. arab news leads with the events in canada on monday at evening prayers in a mosque, the canadian prime minister calling a terrorism. a french canadian student has been charged with six counts of murder. the gulf news looks at how american and european markets dropped following the announcement of mr trump's extreme vetting plan. it comes after his win last year saw investors pouring into the equity market. the business standard reports on vodafone saying its indian business is considering a merger which would create india's largest telecoms company. the markets have been shaken by the recent arrival of a competitor whose lower price has one of customers there. cathay pacific has pledged to use clean jet fuel partly made from garbage in a bid to
cut harmful emissions. this is in the south china morning post. and does this bear any resemblance to anyone in your family? does this bear any resemblance to anyone in yourfamily? it is a drawing of a newly discovered fossil one millimetre in size and 540 million years old, and it is humanity's earliest known as revolutionary ancestor, apparently. that is on the telegraph website. joining us is tom stevenson — investment director at personal investment firm fidelity international. barack obama only ba rack obama only left barack obama only left office 12 days ago and he has a ready is taken out that american values are the sta ke out that american values are the stake and people in the uk are protesting. in the uk people on the