rs in mohammed adow buhari as the country's new -- mohammed all buhari as the country post new president. a defensive burma refuses to take full blame for asia's migrant crisis. officials at a regional meeting say the situation is at an alarming level. also coming up in the program michael jackson's ranch is on
the market. you can buy the king of pop's former home for the princely sum of $100 million. we will learn more about that and all the other business news plus a mysterious tar like substance washes up on californian shores, prompting authorities to close several beaches in the area. molly: we begin in nigeria where the country has a new president, mohammad do buhari it was a historic victory for buhari, the first time that an opposition candidate eat a sitting president. he was sworn in a short while ago in the capital. our correspondent is in abuja with the latest.
>> here it is, the swearing in of nigeria next president mohammad do buhari -- he's back this time as a civilian at the age of 72, winning this election, and you can hear the rounds of applause for him. good luck, jonathan, who conceded defeat graciously. the first ever transfer of power. in all too rare occurrence. witnessing the fact from all over the continent as well as dignitaries that include the french foreign minister and u.s. secretary of state john kerry, getting a big round of applause when he arrived. one person in the crowd shouting, "we are the united states of nigeria." with the setbacks in boko haram
the -- with the setbacks -- boko haram, the falling price of oil -- here is -- molly: let's take a look at more of the challenges that mohammed -- that mohammed do buhari faces. >> falling oil prices, the known ordination of -- the -- in legos, the -- inlayin lagos power is in short supply. many hope the president elect will addressed the gross mismanagement of his predecessor. >> every day, in my village, people are suffering. no work, no good school, no good food. >> buhari faces a series of problems.
he promised to eliminate corruption, which is seemingly entrenched at the highest levels of government. >> we have corruption in the oil industry. there is corruption and power. >> if buhari can follow through on his election pledge, the economy stands a fighting chance. >> we would reduce -- at least 30% of the money that comes into i do gery a -- into nigeria. >> another challenge boko haram, which has left much of the northeast is a country in tatters. nigerians want to see more concrete efforts. >> we have to consolidate. dartcharged>> charged with
defeating boko haram, buhari will also have to deal with an oil crisis. 30% of the population is out of work. molly: while being sworn in buhari says he will tackle nigeria's problems head on. that coming in as he has been sworn in as nigeria's new president. it is a decisive day for sepp blatter. the fifa resident is up for reelection despite intense pressure to resign. a massive corruption scandal has rocked the world of football. the vote will take place later today in zurich. bladder is -- blatter is calling for unity. >> the events of wednesday have unleashed a storm. today i am appealing for unity and team spirit. so that we can move forward together. it may not always be easy.
but it is for this reason that we are here together today, to tackle the problems that have been created. molly: for more on this story, i am joined by the editor and author of a biography of sepp blatter. thank you for taking the time to speak with us. i would like to ask you -- we have this vote, which has gone ahead, is going ahead today even though there have been calls for is postponement. -- for its postponement. how much backing does sepp blatter have at this moment? >> almost nobody knows what happens tonight. from my point of view, he is really well backed. he has the africans and the asians behind him. part of south america, and it should be the majority. but you never know what is
happening. something is suddenly occurring but if it goes the normal way it is done. molly: the vote will take place in a few hours' time to read we will know more later on. let's talk more about fifa. some have compared it to the mafia, concerning the scandal that has come to the forefront this week. how much of the way that fifa operates on, let's just say in terms of its negative connotations coming to light -- how much of that is due to how sepp blatter ran things, or how he inherited things when he came onto the job 17 years ago? >> a hard question. i think he is inheriting 17 years ago -- he was inheriting, in fact, quite a lot of people from around the world, getting
used to pay bills or compete how they want. nevertheless, he is the president, and he is a responsible person who knows quite a lot about all this stuff. molly: that being said, we heard sepp blatter say it is individuals and not fifa who are responsible for any corruption. is that a credible argument coming from this boss or any boss in that matter? >> in the normal business or economic world, it is quite unusual. but we are -- yes, we are looking on a situation here on a real situation about football, and it is a bit different. fifa has the monopoly for world football, right?
that changes quite a lot. that is why they can make their own laws. nevertheless, again, i think that mr. blatter has to take some responsibility. molly: if you are saying he needs to take some responsibility, we have seen in the past previous scandals concerning and surrounding blatter, but nothing has really stuck. do you think this time around will be a different story? >> it is a different story. it has been december 2 2010, since mr. blatter has been charged with a world championship final in 2022. since then, everything has changed. since then, people understood that some things are wrong. molly: thank you very much for joining us here on the program to talk about the ongoing fifa
scandal. >> thank you. molly: now to a developing story out of saudi arabia. there has been a car bombing near a shiite mosque near dammam this friday. officials say four people were killed in the attack. the blast struck during weekly prayers, and it is the second such attack in a week in saudi arabia, this after a suicide bombing killed 21 people. last week's attack was claimed by isis joe jihadists. no one has claimed responsibility for this attack. flex ability and -- flexibility -- david cameron is trying to get governments to carry out eu reform that would loosen and curb benefits for eu migrants. today's stops in berlin and poland, cameron met with angela
merkel. on thursday, he will head to the netherlands and here to france, where he had dinner with the french president, francois hollande. we will bring you more on it as it comes in. the u.k. has opted out of a brussels plan to relocate asylum-seekers across the region. france is expected to take in some 9000 migrants. in paris, police say a makeshift migrant cap near one of the city's main train stations will be cleared. some of those in paris are living in very poor conditions as nick rushworth explains. that: they are just a stones throw -- nick: around 360 migrants from east africa have set up tents some just on mattresses. across the mediterranean from
ethiopia, this man has been here for two weeks and says there is food and water but little else. >> we come here one or two times a day. there is no shower, no toilet here. nick: it is believed the camp will be closed due to health concerns. there is a fear of disease outbreak. the migrants will be relocated. >> there are few double -- there are suitable places for them. emergency facilities will be made available to them. nick: many are looking to get into the u.k.. the euro star leaves from there. some want to stay in france. a protest last week and another part of paris called for the reform of eu immigration rules to help migrants cross the mediterranean. molly: 2000 asia, where burma has seized a boat of -- to south
asia where burma has seized a boat of migrants. it comes a week after a similar boat carried 200 bangladeshi migrants. the people on board this boat that was found today, the number has not been made clear. this comes as a regional summit has come in bangkok. for the latest, we can go to our correspondent standing by in the thai capital. what do you have for us this hour? >> this meeting has been going on since this morning, almost 10 hours now. they have been discussing serious and crucial issues affecting the region. there are also members of the united states government and other governments in the region as well. it reflects the seriousness of the situation here. we expect some kind of a statement, that it seems to have been delayed.
this could be down to discussions around what people are discussing on -- that is specifically the persecution of the minority in burma there. they flatly refused to even discuss the issue. they said the revenge are not citizens of their country. the region has a difficulty in coming together to deal with these extremely difficult issues. when we look at it, it is a region that is run by consensus and there are a lot of face-saving tactics going on. we think there may be some kind of resolution trying to address them, but it is unlikely that malaysia, indonesia, close partners of burma will take up this issue and we are still at a loss to find a solution. molly: thank you very much for that update.
now with what many call a testament to the regeneration of new york city, nearly 14 years after the 9/11 attacks a new observation deck at the world trade center has been unveiled. sophie gives us a look at the observatory, which offers some spectacular views across the city. >> we are on the 100th floor of the world trade center building, 400 meters high. yet it only took us 40 seconds to get here because the lifts in this building are the fastest in the world. it offers 360 degree views of new york city. behind us, we have the empire state building, the brooklyn bridge on the other side, the statue of liberty, and until almost 14 years ago, the twin towers stood immediately next to where this building is. the mayor has said it is a turning point in new york history, that those who have
fought to attack the city have lost once again. but the chairman of this project says he is keen to stress this is not a commemoration of the 9/11 attacks, but rather he described it as a forward-looking entertainment experience with a focus on technology. for example you will be able to hold up an ipad to the windows and you can zoom in on those buildings to find out more about them. this is a massive project. some 350,000 people have already bought tickets to visit here. some 3 million to 4 million people are expected to visit each year. molly: that was sophie reporting from new york. it is time for a business up eight. i am joined by william hilderbrandt. you are going to start us off with some fresh economic data on the european economies. william: here is a round up of
gdp figures. for the first time in six quarters up 6.4%. sweden was up half a percent but the biggest languor of the bunch is -- poland rose well over 3%. meanwhile, one other figure, greece confirmed its economy shrunk 0.2% in the first quarter, enough to drive down the european markets this friday. the cap toronto is down 3.4%, as is the frankfurt dax. a.b. foods on the index was the best performer, with shares of almost 2.5%. competition in the virtual reality were market heated up thursday. google announced it is teaming up with gopro, the maker of the small but heavy-duty digital video cameras. their strategy is to offer a supercheap solution to amateurs
and professionals to break into an arena where the technology has been historically expensive and scarce. just the latest newcomers in vr. facebook and oculus have been busy as well. >> it is a partnership to bring virtual reality to the mass market. gopro is developing a tripod with a circle of 16 outward facing cameras. once it has been uploaded to the cloud, amateur filmmakers and professionals will use google to piece together the images into a 3-d film. earlier this year, the internet giant marched a cardboard headset for $25. viewers simply insert their smartphones and watch. >> one of the biggest hurdles folks have to cause -- have to cross with virtual reality is, how do i create it and get the video in a format where it can be viewed in a 3-d or an enveloping way. with more content, all of a sudden there will be more consumer opportunity for viewing
that content. >> google is teaming up with gopro to enter the virtual reality space, and it is no coincidence. since facebook got its hands on oculus for $2 billion last year, tech companies have been eager to jump on board. who brings virtual reality into consumers' hands first is pitting two of the biggest internet companies in the world head to head. >> three carmakers have expanded their recalls of faulty airbags. fiat chrysler, honda, and bmw. when exposed to too much moisture, airbags can explode. takata said the number of vehicles affected was 53 million globally. of that figure, 34 million are in the united states, making it the country possibly ever recall of cars. an irish -- lawmakers in ireland
approved the sale of the government's 25% stake in aer lingus to iag. iag is the owner of british airways, and as it looks to complete the takeover of aer lingus, one hurdle remains. it still needs to reach an agreement with the remaining big shareholder, ryanair, which holds a 29.8% stake. another billionaire says he is ready to give away more than half his wealth to a good cause. the founder of giovanni yogurt has in estimated wealth of $12.4 billion. he wants to set up an online foundation called tent. turkish born entrepreneur is making it part of the giving pledge created by warren buffett and microsoft founder ill gates. they are asking billion is -- microsoft founder bill gates. they are asking billionaires to
give away more in their wills. the former home of the late michael jackson is up for sale. neverland ranch is priced at $100 million. jackson bought it in 1987 for $19.5 million. the property has 22 buildings including a six-bedroom, 1100 square meter home, and two guesthouses. there is a 50 foot movie theater that has a stage with trapdoors for magic shows. the estate is being sold without the animals and without the amusement park. quite an interesting home hitting the market there in santa barbara. molly: it is going more than five times what the original buyers bought it for? not a bad deal. thanks for walking us through today's business news. it is time now for our press review.
it is time to take a look at what is grabbing headlines in this week's newsmagazine. i am joined by florence. florence: we are starting out with focusing on relations between china and the african continent. let's start with a figure. they talk about $210 billion. that is the amount of trade that took lace between china and africa between 2013. direct trade between china and africa has skyrocketed. it has gone from $75 million in 2003 to $2.3 billion in 2013. that is just in a 10-year span. is this really a win-win situation? jeune afrique says the price is quite high. there is a lot of corruption.
it is an in depth investigation across the african continent from congo to nigeria. they try to see how this cohabitation is taking root despite significant cultural differences. there are some bumps along the road, but when it comes to business, things are really good, and a lot of it has to do with generous bribing. molly: let's move on to the french right-wing magazine, no standard to controversy. what are they focusing on? >> let's take a look. they talk about arabs, the little-known history of the arab situation. le point focuses on what it calls the roots of today's tragedy, essentially fundamentalism. as you can imagine, they have drawn a lot of criticism for this front page. critics say it is clearly stigmatizing the arab community
fanning the flames of a situation that is quite tense in france. this is the first time "le poin t" has criticized muslims and the arab world. molly: what about the ongoing migrant crisis in the mediterranean? >> there is talk about migrants, the big fear of the european union. european countries are still drawing criticism for their response to the migrant crisis in the mediterranean. this despite efforts from the european commission, which this week asked european countries to welcome 49,000 migrant seekers. this from juliana sans's -- julian a sans's wikileaks site. they will use military force military operations -- libyan
authorities have this -- have responded to the wikileaks story, saying they will fight back against any attacks on their territory. molly: and the heroes of the french wartime is as have been inducted into the legendary pantheon. >> the pantheon is a legendary mausoleum, the final resting place for french heroes -- writers, artists, and scientists. this week four resistance fighters were inducted, two women and two men. why do we feel the need to repeatedly celebrate the hero gestures that is to resist specifically during world war ii but in general? one wonders what does resistance actually mean today. is the spirit of the 1940's alive in our modern society today? it is a very interesting issue. we had --
molly: we have two magazines that look at the way we live and where we are headed. >> one is a look at our eating habits. you can see a juicy hamburger, but do not the tempted -- do not be tempted. we are headed to the end of junk food. "l'obs" focuses on the trend to cut down on our sugar intake. according to them, junk food is nearing an end. and the focus on genetic modification this week and you can see this cute baby. this cute 80 is actually scaring the scientific community. there is currently a huge debate about genetic modification. last month, a team of chinese scientists revealed they had managed to modify the dna of human embryos, so this takes a look at the debate. what are the ethical