Skip to main content

tv   World Business Today  CNN  May 11, 2011 4:00am-5:00am EDT

4:00 am
tonight"" tomorrow. hello. i'm monita rajpal. here are the head looirchs this hour. a moment of silencer today. his government needs to rethink its nuclear strategy from scratch following the radiation leak caused by the disaster. syria's president has released several opposition protesters. despite this move witnesses report violence continuing to come in with a number of syrians escaping over the conflict in northern lebanon. in the u.s. president obama says immigration will be a critical issue for the 2012 presidential election. speaking of el paso texas, the president criticized republican party leaders for what he called impossible standards for border enforcement. greece is calling for a strike today.
4:01 am
the strike comes as senior eu and imf officials make a crucial inspection to see whether grease needs to do more. those are the headlines. i'm mow. >> i'm monita rajpal in london. "world business today" starts right now. good morning, from cnn london i'm nina dose s santos. >> and a very good afternoon from cnn hong kong kong. this hour, hsbc is setting out a shift in strategy. we'll tell you what the ceo has to say. and inflation in nie cha ages but is it enough to set
4:02 am
aside consumer complaints on the web. all that and plenty more to cover on the show. let's go straight to the european stock market and see how things are fairing across the continent and london. london ftse down. actually up 0.02%. similar situation for the contact 406789 also in paris, plenty to talk about. we have the bank of england coming out with figures a bit later on. eventually down grading. that's one of the reasons why the ftse 100 isn't showing quite too much movement. it's a big day actually. got a lot to talk. i want to kick off starting about a big story coming out of japan. in the last couple of hours the world's biggest carmaker has been revealing the impact of the
4:03 am
earthquake in march. toyota's earnings plunged, and tellingly, the company not giving any forecast earnings for the rest of the year as it's struggling to get its process back online. the annual almost doubled but the company saw a significant drop in profits in the final quarter, which is january to march. earnings, 77%. the same time last year it was strong. really it was the earthquake and tsunami on march 11th which droesh down both the market for cars an also the production. particularly spare parts production. many hard-hit areas were where the parts were based. let's take a look at toyota's share price today. remember the market closed before toyota's announcement.
4:04 am
it's actually up 0.62%. but it could get hit again today after that expected number. also the production of toyota is expected to rise to just 77% of its normal level by june and gm breathing down its neck and saying toyota will lose its crown as the number one auto maker in the world in the very near future. let's get a look at the broader markets today. the nikkei, as you say, not having a chance to react to toyota's news until thursday. the index grew by a half of 1%. hong kong and shanghai finishing in the red. we'll have more on that in just a few minutes now. in australia, the market up by a little more than 0.01%. nina. two days ago hsbc recorded
4:05 am
profits of $1.15 billion. in the next hour the chief executives will tell investors that he wants to save up to $3.5 billion since the new revenue opportunities. hsbc's stock has fallen by about 1.25% in today's trading session so far, zbluft the first hour and five minutes of trading. it was a more positive picture in hong kong where hsbc shares ended more than three-quarters of a percent up. we're joined now with the details of these kind of changes that are being announced here. hi, emily. what are the headlines? >> group strategy has been going on for about 90 minutes and so far the headlines that have emerged, they want to save, the bank wants to concentration on
4:06 am
banking and wholesale banking, they want to target wealth machlgt one of the biggest headlines i suppose is that retail banking, they are only going to sustain that in areas where they can achieve scale and profitabilities. what that means is retail banking in russia will no longer be pursued by hsbc. they're going to be keeping retail banking in hong kong and the uk, and they will be promoting in areas of high growth like mexico and brazil. i suppose this is a really big deal for a company that advertised itself as a world-class bank. they call this something of an interesting reversal. >> let's see. this is quite a change of strategy for hsbc, a departure pursued at gulliver. he planned to expand in all these markets. not just here in britain but elsewhere in the world.
4:07 am
>> exactly. it's not work for them to say. they said they're going to say that emerging markets account for the world economy in 20 years. it will be half, if not more. their core market is in asia and the emerging market. don't forget they started expanding into the developed markets. so i suppose this is -- this is a business strategy that will be easy for them to pursue. >> i suppose it was called hong kong and shanghai banking when it originally started out. are are we going to see this as a more hong kong-based bank? obviously there were reporters that they moved the hong kong banks for tax reasons. >> the details on that are still coming out. they're not giving too much detail on things like that. why is hsbc doing this?
4:08 am
>> they really need to address concerns in the business. number one are costs. i just got some figures here and the target ratio is 48% to 52%. in some areas it's as high as 51%. some areas are not showing a lot of profitability. the equity there is 9%. they say it falls very short of their target of 12 to 15%. >> oep when some of the competitors are target 15g%. thanks so much for joining us. emily reuben giving us insight on what's going on on the hsbc meetinging still going on at the moment, andrew. >> interesting, nina. their website still call as itself the world's local bank. i wonder how long that tagline will stay. okay. today china reported april inflation numbers. they eased by a tenth of 1% in
4:09 am
march. ramie has the numbers on inflation and the reaction. ramy. >> it was forecast to be 4.52%. sit good? it's too early to tell. january, february, and march here. 4.9, 4.9% and 5.4%. remember, beijing wants to get its annual percentage down to 4%. at this rate it's not going to get there and people are just upset. i was in beijing last week and the price of food was notably higher. noodles, cakes, pretty much everything. food makes up a third of china's cpi calculations. in april, these were the
4:10 am
numbers, food versus nonfoochltd it surged by 11.5% year on year. but nonfood prices 2rks.7%. the fire in their bellies is coming from these numbers. >> ramy, you mentioned they're quite substantial. what have they been doing about it? there have been incidents in the past. >> that's right. people are complaining on a personal basis. you're not going to hear too much or you might end up in jail. these are tweets. twitter itself is blocked by censors in china. one says i spent 2 rmb for four apples last year but now i need
4:11 am
to spent 4 rmb for 20 apples. the life quality is declining by 50% why the gdp number increases twice as much as it was before. this one says i need to race against the interest rate, i need to race against cpi. i need to race against gdp. this person here says the oil price sup, the represent is up, the salt price is up, the taxi fee is up, the egg price is up, but we still need to live strongly because the price of the graveyard is also up. people are producing like this video on china's version of the youtube. take a look. ♪ >> and this is a parody of a famous pop song. it pokes fun at the world for always focusing in on china inflation. the original lyrics, the world
4:12 am
is talking chinese, our language is known internationally. it's changed to the world knows about china's prices. >> if they don't get a handle on it they could be singing a less harmonious tune than we just heard. e-mail sure they're watching very closely what's going on online in china that. they would be familiarly worlded about any signs. ramy incencio. microsoft is going up. why they're spending billions, more than eight of them to buy skype. doubtful, you love me. hey, you can't take allegra with fruit juice. what? yeah, it's on the label. really? here, there's nothing about juice on the zyrtec® label. what? labels are meant to be read. i'd be lost without you.
4:13 am
i knew you weren't allergic to me. [ sneezes ] you know, you can't take allegra with orange juice. both: really? fyi. [ male announcer ] get zyrtec®'s proven allergy relief and love the air®. should i bundle all my policies with nationwide insurance ? watch this. on one hand, you have your home insurance with one company. and on another hand, you have your auto with another. and on another hand, you have your life with another. huh... but when you bundle them all together with nationwide insurance... ... they all work together perfectly-- and you could save 25%. wow... it's all in the wrists. ♪ nationwide is on your side
4:14 am
4:15 am
4:16 am
against the euro rowe of 1.43. welcome back to hong kong. you're watching "world business today." investors cheered. the dow jones industrial average adding two-thirds of 1%. the s&p putting in a solid performance. but the solid games came from nasdaq. that climbed by about 1% as you can see there. despite all the hype surrounding the daling investors, microsoft. they inherited skype's debt and a also inherited the hike. just about $25 each. ebay will take a hefty cut from the skype. shares of ebay jump eed 2.5% on
4:17 am
the talk of that news. >> they paid about $8 billion. very high indeed. microsoft's steve ballmer was not talking much but he's clearly not short on ambition. he announced tuesday the two companies, quote, want to stitch together the world. microsoft has a lot riding on the success of this deal after a string of failed online benches, and as reported, it faces choices about what to do with the skype formula that's proven popular but not profitable. >> some of the tech world said microsoft had no real choice but to go after internet phone giant skype. they may be a money-losing operation that has yet to generate revenue but its service is widely popular. it has over 140 million active users each month. this deal gives microsoft a much needed kick start as it battles to keep up with archrivals in
4:18 am
the unionline world. reports say google and facebook were also actively pursuing skype. microsoft's ceo, steve ballmer says both companies opportunities to change their experience is great. >> people do have one line. the ability to communicate with somebody, participate in a meeting with people who work in your business and don't work in your business who are in your pta, who you haven't met before, we want to stitch together the world, and we have big customer bases that we can connect in a way that will add value to the call numbers of the community. >> the operating world for microsoft in this deal is synergy. microsoft can use skype technology to give its xbox games, windows and mobile phone software more of the so-called cool factor which many of the products conspicuously lack.
4:19 am
skype's users may be asking what changes if any will come to their accounts once this deal is complete. analysts we talk to says microsoft is certain not to make any certain condition cans that would alien night skype users. they say they're committed to honoring all non-skype platform service. they may try to develop new money-generating things in the future like teleconferencing. maggie lake, cnn, new york. this is where the futures currently stand in the premarket action. we're a few hours out. these numbers do change, but at least pointing to the outside to the dow and the nasdaq only just in the s&p there, slightly in tread. nina. >> well, andrew, two months from japan's massive earthquake i
4:20 am
tsunami. when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses... not paid by medicare part b. that can save you from paying up to thousands of dollars... out of your own pocket. these are the only medicare supplement insurance plans... exclusively endorsed by aarp. when you call now, you'll get this free information kit... with all you need to enroll. put their trust in aarp medicare supplement insurance. plus you'll get this free guide to understanding medicare. the prices are competitive. i can keep my own doctor. and i don't need a referral to see a specialist.
4:21 am
call now to get a free information kit. plus you'll get this free guide to understanding medicare. and the advantages don't end there. choose from a range of medicare supplement plans... that are all competitively priced. we have a plan for almost everyone, so you can find one that fits your needs and budget. with all medicare supplement plans, there are virtually no claim forms to fill out. plus you can keep your own doctor and hospital that accepts medicare. and best of all, these plans are... the only medicare supplement plans endorsed by aarp. when they told me these plans were endorsed by aarp... i had only one thing to say... sign me up. call the number on your screen now... and find out about an aarp medicare supplement insurance plan. you'll get this free information kit... and guide to understanding medicare, to help you choose the plan that's right for you. as with all medicare supplement plans, you can keep your own doctor and hospital that accepts medicare, get help paying for what medicare doesn't... and save up to thousands of dollars. call this toll-free number now.
4:22 am
back from cnn london. you're watching "world business today." the prime minister is promising change. naoto kan said on tuesday he wants to review the energy plan. he also apologized to the japanese people for the crisis at the fukushima daiichi plant and says he's making a personal sacrifice. >> translator: to take responsibility as leader of japan, i would return my prime minister salary from june until the nuclear power plant crisis is under control. >> still mr. kan plans to keep
4:23 am
his regular lawmaker's sal richl as prime minister he earned $20,000 a month. andrew. well, the disaster, nina, crippled communities and businesses and it's also thrown up shockingly large numbers. the human toll stands at almost 15,000 people killed. more than 9,000 people are still missing. the japanese government estimates it cost nearly $200 billion worth of damage with more than 83,000 buildings demolished. the world bank says it may take five years for japan to rebuild. last week japan's parliament passed a $49 billion disaster relief budget. awe motive, electronic, and chips centering were affected. 7% of the factories were located in that part of japan. arising anger from tens of
4:24 am
thousands of people from whom the quake and tsunami have. we're joined with a reporter on the details of the clean-up and the rebuilding effort. cluneally, kyung, this is not going well it's been completely leveled. other than the fact that it was a little dryer than it was two months ago and there have been roads cleared away, there isn't much sign of too much significant progress. too many steps forward that are satisfying to people who have been displaced. you mentioned the number. there are about 120,000 to 130,000 of people living on blankets and see evacuation facilities all over this region. they don't have a timetable as of yet as to when they're going to be in temporary housing.
4:25 am
they don't have a timetable of when all of this debris will be cleared although the government is saying that by august the hope is to remove all of this debris. but look how far back this shot goes. this is an optimistic viewpoint for many analysts. also, as far as getting everybody in housing, the hope is for august. again, the people waiting for housing believes that's quite an optimistic figure. i want to talk to one other figure out there. the reconstruction figure. the s&p is estimating it's going to be upwards of $562 billion of u.s. dollars. that's the high end. the concern is not is this going to be a toll on neighborhoods like this but a toll on japan's economy for many years to come. andrew. >> it's an extraordinary sight where you're standing, kyung. we're talking about one of the
4:26 am
most sophisticated and highly developed continents in the world. the response by the rescue team was praised but still two months on you've got that debris around you. what's happened? so much has got to be cleaned up they haven't gotten to it yet or is it something else? >> reporter: so much to clean up because we're talking about an estimated 500 square kilometers of land that has to be cleaned up. there is so much to be done. so many people to take care of. so the job is incredibly huge. you also have to factor in the crisis with these nuclear plant and the government has to reassess the nench policy. so japanese lawmakers, japanese are talking about one of the richest countries in the entire world still struggling to move on two months later but there's also a cultural problem.
4:27 am
it's the issue of consensus. it's very difficult for someone to make a decisive decision, move forward at a very speedy pace. and so it's something that is taking longer than some of these evacuees would like but it's because everybody would have to agree. >> so we've got the clean up of the -- the basic clean-up still months away from being complete. as you know, kyung, toyota, the world's biggest carmaker came out with this number. profits down sharply because of the damage caused to its own production facilities. any idea when companies like toyota can get back into sort of the prequake production size? >> reporter: well, the word we have from toyota is they're hoping to start doing that in early stages and that's beginning in june. that's a little bit of good news. they probably wouldn't be up to normal until the end of the year, but the fact they're knew
4:28 am
saying its june is perhaps looking at them coming back on line. >> thank you so much for that. kyung lah joining us. as you is see quite clearly, one of the hardest hit areas of a hard-hit region in japan. kyung, thank you. nina. microsoft makes its biggest acquisition in its history. coming up, the staggering amount that it's paying. and apple and google come under scrutiny over their privacy practices. the grilling they got in the u.s. congress. stay with with us.
4:29 am
4:30 am
4:31 am
4:32 am
from cnn london, i'm nina dell santos. >> and i'm andrew stevens at cnn hong kong. welcome back. you're watching "world business today." let's bring you up to date with the european markets. not a lot of movement in london at the moment. we saw hsbc shares on earlier on in the show, down by 1.5% at the moment as the chief executive stewart gulliver announces a series of measures. also the bank of england is set to come out with its uk economic report. they expect to downgrade it as a whole. that's one of the reasons why the ftse market is teetering in the red. the other european markets fairing up nicely with the dax
4:33 am
and smi up. after losing ground just last week. right now gold is also on app upward swing, currently rising to 1,523.74 an ounce. also silver shining by more than 1%. on the other hand we have light sweet crude bucking. oil prices are continuing to fall. nymex crude currently down .26 cents on the barl, 103.54 is the current. andrew. a positive picture in tokyo, but that may change tomorrow morning. investors get a chance to react from toyota, the world's biggest automaker saying that operating income was down about 52% net, profits down 77%, and they did not give a forecast for the year
4:34 am
hit. significantly, the numbers were much worse than had been indicated by analysts. this is the first reaction if you like from the devastating tsunami on march 11. obviously not far enough. meanwhile here in hong kong, i should point out the nikkei was up. here in hong kong the hang seng down. we told you about inflation, 5.3%, a little bit at 1%. still outside the 4% amount that they want to see. not a great day on the inflation front. trailing up by more than 1%. nina. and we'll get those inflation figures from the baker of england here. very much in the mix in brittain as well. let's move along to america. microsoft, $8.5 billion deal with skype. this is how the number settled. the dow jones industrial average adding about two-thirds of 1%.
4:35 am
the s&p putting in a slight performance. as you'd expect the strongest gains coming from the tech. that index climbed 1% on the back of the news. andrew. nina, we'll have to wait and see whether the skype acquisition proves a winner for microsoft. it's been big in the news. a lot of people thought that microsoft paid a lot of money for it. very high. $8.5 billion. certainly on the other side ha been a money maker for the stakeholders of skype. as i said, $8.5 billion paid by microsoft. 2 1/2 years ago, two years ago, skype was valued at over a quart over that amount. $2.75 billion. now, at that time there was a venture capital company which was known as and still is as andreessen horowitz. they bought it for $200 million.
4:36 am
that number has quadrupled. the big oeft, the company fronted by silverlake. that group bought a 70% stake in ebay. the members will take away $4.4 billion from that deal. not a bad day's work. now, that would have been more, but a patent infringement lawsuit gave them a 14% stake. joltid enjoy a is.1 billion windfall from the sail of skype to microsoft. and then there is ebay, of course. the online auction giant that couldn't make a success of the 2005 skype is feeling a little bit better. ebay's remaining stake amounts to at least $2.3 billion.
4:37 am
it's earned more than a billion dollar on its original investment. that's why the microsoft share was down in new york, nina, because people are saying they did pay an awful lot for skype. >> it's a staringing figure, isn't it? google is coming under a u.s. federal investigation. that brings us to this big number of the day. it's $500 million. that's how much the internet giant is possibly setting aside to settle with the u.s. justice department if it indeed has to do that. they're expected to look into their advertising. they get almost all of their money from advertising. youtube is a half billion set aside, that means a lower first net quarterly income of $1.8 billion for google. so some pretty big numbers here. executives from google and also apple also found themselves
4:38 am
under washington's magnifying glass as they fielded questions from u.s. lawmakers about their privcy practices. kayte baldwin reports. >> reporter: what you're looking at is a map tracking my movement in realtime. >> we are driving right past the capital building on first street. we're going head over to one of the monuments to see if google tracks us along the way. to our right is the white house, 1600 pennsylvania avenue. 122. yeah. from capitol hill to the white house, time stamp location thanks to just a blackberry. the privacy risks of this technology have put devices like i phones, blackberries and androids in the congressional spotlight. >> we believe consumers have no idea of the layers of sharing that go on behind the scenes. >> reporter: two of the world's largest brands apple and google.
4:39 am
>> apple does not track users' locations. >> does this data indicate anything about your location or doesn't it? >> senator, the data that's stored the database is the location is the location of as many wi-fi hot spots and cell phone towers as we can have. that data does not actually contain in our databases any customer information at all. it's completely anonymous. >> consumers are hearing this a lot from both apple and google, and i think it's confusion. >> reporter: the companies say they need the location information to better serve customers trying to find a local coffee shop or gas station. both google and apple assured lawmakers they weren't abusing the information and only track
4:40 am
user data if authorized but lawmakers don't seem convinced as they look to strengthen federal regulation protecting consumer privacy online and on mobile devices. >> all i can say is i have not yet heard a model here today that is convincing to me that it adequately protects both the internet itself and the privacy interest. >> reporter: a handful have been introduced in this session. if you choose. so this issue is far from settles. kate bolduan, capitol hill it's the worst flooding to hit in decades as the mighty mississippi continues to wreak havoc. stay with us.
4:41 am
4:42 am
4:43 am
4:44 am
watching "world business today" live in london and hong kong. residents near the mississippi are bracing for more flooding. let's go to jen delgado at the weather center with the latest now. jen, we've been talking -- you've been talking specifically about what the u.s. has been doing to try to alleviate the worst of the flooding. are they winning the battle or are they losing the battle? >> it looks like they're winning the battle because many of the levees are holding up. they talked about how they opened up that spillway down near new orleans and it looks like now that is cooperating. but many areas still under them. look at how many areas we're talking about dealing with flooding. 250,000 square kilometers extending from missouri down toward louisiana, kentucky,
4:45 am
tennessee, anywhere in red, this is the area dealing with the flooding. roughly it's about the size of italy. very wide area. many are dealing with the flooding. the worst is going to be downstream from memphis. let's show you what it looks like in tunica, mississippi. residents are evacuating. this is a big gambling area. a lot of money made in this region and it's shut down because of all the flooding. we're dealing with major to moderate flooding up and down the mississippi. we're going to talk about this through the month of may as i take you over to the graphic. talk about memphis. technically the river is still cresting along the mississippi in memphis but we're expecting more cresting as we go through the next several days. greenville, may 16, vicksburg, may 19, running about five meters above flood stage and getting down toward new orleans region, riffly about a meter over. that's going to be moderate and
4:46 am
hopefully all of this will stay together because too many homes are going to be under the gun for more flooding across the region. but also we have to talk about the economic impact and how this is going to affect parts of the world. we're talking about europe, africa, asia. all of this is used to transport more than 500 million tons of cargo. coal, timber, steel. this is going to have a ripple effect on the economy and residents and businesses across the region. andrew. they say half of the grain exports being affected. that's a serious number. thanks very much for that. >> you're welcome. nina? >> and drew, let's get the latest on the greek debt crisis. they're in athens making a crucial investment visit. one year into the country's bailout there are still fears it might default on its debt. now, the review is key to
4:47 am
determine if greece can get better bailout terms. the visit is to establish weather greece's debt in total is sustainable. officials are actually wondering what greece has instituted enough fiscal reforms to achieve more than $17 billion worth of extra aid. all of this comes as thousands of group workers walk off their jobs today. labor unions have set up a mass protest. of course, we'll be keeping an eye on that in light of what's being said, particularly from the ratings agency so far this week, standard & poor's, et cetera. andrew. we're going to change tracks somewhat when we come back after this short break. i mentioned up dreaming up new flavors of beer all day. to some, a dream job perhaps. to the brooklyn brewery chief, it could make or break his business. we'll be checking in with "the boss" in a moment.
4:48 am
4:49 am
4:50 am
welcome back. live from cnn hong kong, you're watching "world business today"ing. >> when you're the boss, it's your responsibility to make sure your product is up to standards, but doing that isn't always about micromanagement. >> in this week's episode of "the boss" sara has tough choices to make about her future. and hinde in new york, it's time to give his right-hand man time to work his magic. preeshsly on the boss, sarah curran found it hard to accept praise in a separate sitdown interview with richard quest. >> why can't you take credit for what you achieve. >> i don't know. mayor michael bloomberg joined our boss steve hindy.
4:51 am
>> the city worked if us for about five years trying to find space for our expansion. >> if you're going to run a world-class brewery you need to meet often with the person who has a finger on the pulse of your operation, and that's the brew meister. today steve hindy is doing just that. >> you're the boss. you sit in this chair. >> yes, i know. >> he's meeting star employee garrett oliver, the authority on all things beer-related. on the cards, a new and improved beer card that will ease the work flow. >> i want to get a tank which will be specifically for kasking and doing all of our little bolt projects. >> brewmaster for
4:52 am
more than 15 years. he's the ultty mist, the one who oversees the production. >> welcome to my home. >> he's been designing a beer for a popular new york city restaurant, the shake shack. now it's his boss's turn to test it. >> boy, it smells good. >> very interesting. >> yeah. that will make a -- >> that would l be cool. >> all wee need is a burger. >> to fit in with with that new client, steve asked garrett to think about the taste of the shake shack burger and from there designed a new beer. >> we're looking at some caramelized malt that gives you a little more color. that kind of grabs onto the flavors of the burger, the char, the sweetness of the bun. >> as a boss steve has no
4:53 am
problem stepping aside. in fact, when it comes to developing new tastes his brew master has virtually free reign. >> you know, i get to come in and taste it at the end. >> for steve, this is the essence of successful management. surrounding yourself with the best people, articulating your version and letting them do their work. >> wow. >> breakfast of champions. >> very smooth. >> yeah. >> it's really not a one-man kind of job. really to be a successful entrepreneur, i think you've got to be able to get other people excited about what you're doing and get them to believe in it as much as you believe in it and work toward that goal of bidding a great company.
4:54 am
>> vivian westwood, some of the many labels in the "my wardrobe" range. getting them onboard has not been easy. >> in the early days my wardrobe, i would be knocking on their door and store and now it's kind of sief that that's started to change, that people are starting to knock on our door. >> getting here has taken years of hard work. when my wardrobe first launched, sarah had over 40 brands on her side. today it's more than 180. for sara, it has been above all about building relationships. >> the most recent brand we bought onboard has taken five years to commit and come on board. they're very protective of -- super protective of online anyway. it's about brand ajay sancy so they won't be sitting with like-minded brands.
4:55 am
>> today sarah is talking part in a photo shoot for her website. for sarah, getting balance right means knowing your customer and knowing your limits. >> i'm not looking to bring on a fashion-forward really edgy direction directional manner. >> it provided sarah with a key inspiration, be it the northwest big item or designer. the rest she said is gut instinct. >> once you get it right, the volumes you can sell are insane. but then sometimes, you know torque take that punt, to take that risk, do i buy 150 units? you know, we've been burned some times, but equally we've had
4:56 am
phenomenal success numbers shoo next week on the boss, a new face and a new mission. sar sar sarah curran adds additions. and michael hindy faces number one challenge, rising food prices. "the boss" indeed. that's it for this edition of "world business today." thanks for joining us. i'm andrew stephen in hong kong. >> i'm nina dos santos in london. right now awe starety pictures of athens in greece.
4:57 am
4:58 am
4:59 am

154 Views

info Stream Only

Uploaded by TV Archive on