tv World Business Report BBC News April 3, 2017 5:30am-5:46am BST
this is bbc world news. the headlines: rescue teams in colombia are continuing to search for anyone who might have survived the devastating mudslides in the south of the country. the president has said 254 people are known to have died — 43 of them children. president trump has indicated that the united states would be prepared to act alone to counter a north korean nuclear threat. he's reported to have said the us could take action if china did not put more pressure on pyongyang. the bbc has seen evidence of so—called islamic state appearing to use children as human shields in the battle for mosul. it comes as the militants are all but surrounded in the old centre of iraq's second city. gibraltar has said it won't be used as a "bargaining chip" in any brexit deal the eu wants to reach with the uk. spain, which claims sovereignty of the british territory, could be given a veto over decisions affecting the rock. now for the latest financial news with sally and world business report.
where now for south africa? after last week's massive cabinet reshuffle, president zuma may face another vote of no—confidence. we talk you through what's at stake. third time unlucky? toshiba shares plunge in tokyo again on reports it may miss it's results deadline, for the third time. welcome to world business report. ina in a moment we will look at the property market in beijing as well. we begin in south africa where the parliament's speaker is considering a no—confidence vote request from the opposition of president jacob zuma.
this comes after the country's finance minster, pravin gordhan, and many other cabinet members, were sacked last week by the president which has had a big impact. let's talk you through the reaction. within hours of mr gordhan‘s removal, the south african currency, the rand, fell sharply and was down over 5% against the dollar for the week. the share markets were also impacted seeing their biggest drop since 2015 with government bonds and banking stocks falling hardest. mr gordhan‘s successor, malusi gigaba, has called for a radical transformation of the economy but as yet there are few details of what his plans are. however it is likely the cost of borrowing will increase further. and that is because of a likely downgrade by the credit ratings agency moody's. it is due to deliver its verdict on friday. many analysts now predict south africa to be downgraded tojunk status.
william attwell, senior analyst — sub—saharan africa at frontier strategy group good morning. you are from cape town so good morning. you are from cape town so you know this economy extremely well. how is that doing? we have shifted to a low growth trajectory. last year a nalyst shifted to a low growth trajectory. last year analyst were looking at whether the economy could enter recession but some indicators have turned around. we have been moving to slightly more positive growth, still below i% but nevertheless positive. with pravin gordhan at the helm, he had put in some good elements to get the economy going? he had placed to meet credit ratings
and this improved sentiment was south africa. pravin the currency is one of the strongest. a dramatic cabinet reshuffle by president zuma, why? it is a leader the anc, the ruling party, leadership election and what this represents is a power grab by president jacob and what this represents is a power grab by presidentjacob zuma to try to control access to financial resources of the state which is important to the machine which is brought into office and kept him that, as well as silencing and sidelining some of his critics in the cabinet. what do we know about malusi gigaba? no financial experience. he was the former home
affairs minister. he is a supporter of president zuma? absolutely. what people are worried about is that he will turn a blind eye to some of the corruption which character rises this administration. will the vote of no—confidence happen? this administration. will the vote of no-confidence happen? not immediately, parliament is not sitting at the moment and the speaker is a close ally of president zuma. we will watch this space and any news we will update you. toshiba shares fell as much as 9.4 percent this morning, before recovering somewhat, on reports that it may miss its earnings deadline for the third time. it's now expected that its shares will be demoted to the second section of the tokyo stock exchange in august. mriko oi is in our asia
business hub in singapore. the third time it is missing the earnings report that what does it mean? surely it will get into trouble with the authorities? mean? surely it will get into trouble with the authoritie57m basically means its shares of will likely be demoted to the second section or even face delisting later this year. we were supposed to find out its earnings next week that there have been reports the company is likely to miss it yet again, for the third time and that is my shares have been falling sharply in tokyo this morning. interesting news is well on toshiba, it's memory chip unit, shareholders reluctantly agreed to sell it, and over the weekend one newspaper reported the
names including apple, amazon on, and google, are interested in joining ten other potential readers say that will be an interesting bidding warand it say that will be an interesting bidding war and it is an important dimension that in tokyo there is quite a lot of pressure to keep practically these crown jewel of toshiba instead of selling to a foreign buyer. thank you very much indeed. now, lets take a look at the property sector in asia. are we experiencing a boom, a bust or a bubble? our collegues in the region have been busy looking at the property market all over asia, and we begin today in china, where housing has become unaffordable for many young adults. stephen mcdonnell sent this report from beijing. it starts off the evening, rush—hour
in beijing and the young workers are pouring out into the massive subway are low. they willjoin the commute to the outer suburbs. there is no way most people young people here can way most people young people here ca n afford way most people young people here can afford to buy a flat downtown in fa ct can afford to buy a flat downtown in fact it is hard to imagine how most of them could afford to buy a property anywhere in the city. it is true, there are plenty of
cities in the world where property is expensive, is it me, paris, singapore, you name it. here people ‘s salaries could be half or even less. . so who is buying property here? investors. the government is trying to rein in this explosion by limiting access to credit in the hope that china is young workers may one day be able to buy a place of their own.. it has been a record quarterfor tesla.. the electric car maker said that was a 70% rise on the same period of 2016. it is a rebound for the us company after production problems late last year resulted in a 9% fall in deliveries in the fourth quarter.
let's quickly show you financial markets that the start of the trading week. we mention toshiba top a survey trading week. we mention toshiba top a survey gauges business sentiment and it has gone up again. so business sentiment is improving in japan and that has boosted the nikkei slightly. i will see you soon. i want to tell you about the fact that... more than a third of british people are physically inactive, increasing the risk of heart disease and costing the health service more than a billion pounds a year. research from the british heart foundation reveals that women are more inactive than men and the north west of england
is the area of most inactivity. graham satchell reports. harriet had no warnings or symptoms. she was climbing the stairs at home when she had a heart attack at the age ofjust 44. it was like having the rug pulled from under yourfeet. i have a young family, a job i loved and to suddenly be disrupted on such and to suddenly be disrupted on such a dramatic incident was very difficult dog i did not make time for activity or exercise so looking back i was very saddened tree. research shows the most inactive pa rt research shows the most inactive part of the uk is the northwest of england were 47% of adults do not do enough exercise. followed by northern ireland. in wales and the north of england is 42%. we estimate that on average most of us spend
7080 days of our lives each year in a sedentary position. physical position is important but you also have to reduce the amount of time each day you spend sitting at your computer or wherever it is. harriet has now changed her lifestyle— regular exercise, walking, playing with her kids and inactivity has become one of the leading causes of premature death. coming up at 6 o'clock on breakfast — dan walker and louise minchin will have all the day's news, business and sport. they'll also have more on the so—called ‘grammar vigilante'. he's a mysterious figure who goes round the city of bristol correcting the punctuation on street signs and shop fronts. a reminder of the top stories: rescue teams in colombia can then ring the search for anyone who might have survived the devastating mudslides. 43 victims were children.
president trump has indicated the us will be prepared to act alone to counter a north korean nuclear threat. he is reported to have said the us could take action if china does not put more pressure on pyongyang. evidence of islamic state appearing to use children as human shields in the battle of mosul. gibraltar has said it will not be used as a bargaining chip in any brexit deal. spain which claimed southern tree could be given a veto of decision affecting the rock. we have been scouring the
international papers to see what the big stories are in print and the main story is donald trump set interview with the financial times. it was picked up eyeing several other papers. comments that america will unilaterally take on north korea if china refuses to co—operate stop the independent reports on stories were tensions have escalated over the british overseas territory of gibraltar. spain could have a veto to any decisions applying to the territory. in venezuela, some say the popular revolt has now led to authoritarian rule. the ft also looks at investors calling time on a sustained global recovery. the