With sally and World Business report. Re writing history. What now for the countries in the Trans Pacific partnership as President Trump signs an Executive Order to withdraw the United States . Chips ahoy samsungs Microchip Business powers the company to a jump in profits despite galaxy note 7 disaster. Welcome to World Business report. Im sally bundock. Are you hungry . If you have no food to hand well make it worse as well take you to a true indian feast. Thats injust a moment. Iam i am told there is a Business Angle but we cant start without talking about this. Yes, he is my top story again this is becoming a habit im talking about us President Trump. On day one in office he signed a slew of Executive Orders but the one grabbing all the headlines worldwide is his move to withdraw the us from the Trans Pacific partnership. Tpp as its also known is the huge trade deal negotiated under mr trumps predesessor ba rack 0bama. It was a deal between 12 nations in the pacific area and was set to cover 40 of the worlds economic output. The painstaking negotiations were led by obama and took seven years to complete. It was generally seen as a way to cement relations in the area before china could get a foot in. Significantly china was not part of the negotiations. The 12 countries signed up to tpp in february of last year but mr obama couldnt get it ratified by the republican held us congress. President trump now wants to negotiate trade deals on a country to country basis with a 30 day cancellation clause in case somebody misbehaves. Weve been talking about this for a long time. Thank you. 0k. Great thing for the american worker, what we just great thing for the american worker, what wejust did. There you have it that was the moment. With me is kate andrews from the news editor of the institute of economic affairs. Good morning. The delivered on that promise, he has done the deed, what 110w promise, he has done the deed, what now for tpp . Interesting to get reaction from leaders of the countries within the 12 countries, australia saying they can go ahead without the us. Technically it can, if six of them want to go ahead with it and make up 85 of the combined gdp that was meant to be there than they can go ahead, which basically means japan has to go along with it, which is why were seeing Australia Andjapan in which is why were seeing australia and japan in negotiations right now. Its possible they might push for it but losing out on the us customer base, the 3 million americans that would have been importing a lot and consuming those cheaper products, that will make it a struggle. Do we need tpp . You can have you in a relaxed and oral trade deals that can be hugely beneficial unilateral. Thats look at how long they take. The idea that trump will get a trade deal with the uk within weeks isnt feasible, they can take yea rs. Weeks isnt feasible, they can take years. 0bama negotiated tpp for seven years, conversations started in the mid 2000s so these things ta ke in the mid 2000s so these things take time. It would be fantastic to have trade deals with australia or japan but it wont come back soon and in the meantime we will miss out on the economic boom. Presumably the leadership in china are upping their hands, they werent a part of this particular trade deal and theyre starting their own version with these countries rubbing. What does that mean for the winners and the losers . The real loser maybe the us. With tpp, the us was Luke Dyer Macro hooking to create a Single Market within asia and exclude china was looking to. If donald trump is really interested in keeping manufacturing jobs in the us and keeping that money in the us then he should do what hes already planning on doing, lowering Corporation Tax significantly, giving american businesses an incentive to stay but cracking down on this trade deal will hurt American Consumers and will hurt American Consumers and will give china the footing it already has too built itself up more. Kate andrews, we appreciate your time. More. Kate andrews, we appreciate yourtime. More. Kate andrews, we appreciate your time. Has more. Kate andrews, we appreciate yourtime. Has two more. Kate andrews, we appreciate your time. Has two build. More. Kate andrews, we appreciate yourtime. Has two build. More more. Kate andrews, we appreciate your time. Has two build. More on that very soon. Cash has two build. Has to build. More news from samsung today. It would seem its Electronics Division is doing well and boosting the groups bottom line, some welcome good news from the korean tech giant after such a turbulent year. Profits in the Fourth Quarter jumped to 7. 8 billion. Rico hizon is in our Asia Business hub in singapore. So nice to see you. With all the news we have had out of samsung, all the bad press, this might come as a pleasa nt the bad press, this might come as a pleasant surprise. Thats right. Not many were bullish on Samsung Electronics after a very challenging 2016. But the Korean Technology giant has surprised us despite the tough year they have had, they remained profitable. In the Fourth Quarter profits more than doubled from a year earlier, mainly thanks to its chipmaking and Panel Display businesses. The Semiconductor Unit contributed more than half of the companys quarterly Operating Profit and despite the problems it faced in restoring Consumer Trust in the absence of the galaxy notes smart phones because of its exploding batteries, consumers still snapped up Samsung Smart phones like the galaxy f7 and the edge and other cheaper galaxy smart phones and that helped samsungs Mobile Business Rebound from the previous quarter when the note 7 to bark wiped out basically its mobile phone profits. Going forward they still expect to be profitable in 2017, but the company is trying to manage expectations, saying they have other issues to worry about, including a Corruption Probe involving south korean president park. Lets see how this plays out and if it will indeed impact its bottom line. We will keep a close eye and good to have you back, mr hes on mr rico hizon india is known the world overfor its cuisine. I have to say i absolutely love it but keeping customers at home happy hasnt been easy. Restaurant owners serving traditional indian food have been struggling to woo young customers in particular, and so some are trying more dramatic culinary experiences. But is that working . Shilpa kannan went to have a taste. Its not about curries and kebabs any more. Indian food is getting a makeover. This is a deep fried fritter that is soaked in sticky sugar syrup. Its a Popular Indian Swede found on most Street Corners but with a little help from science and a lot of creativity, this is what its been turned into. Tiny beads of caviar topped with a saffron foam. It looks kind of cool and it tastes just as good. And chefs are hoping with this modern ta ke chefs are hoping with this modern take they can attract young people back to indian food. This entrepreneur is hoping his next restau ra nt this entrepreneur is hoping his next Restaurant Launch is as blessed as his previous. His father is a well known indian chef and he wants to carry on his fathers legacy but with a modern twist. The days of old food are gone. We maintain the core and the authenticity and we dont mess around with the flavours, but we produce a very modern version of the same dish. If you want to take any cuisine global then you have to do that. Its notjust molecular food. Chefs are taking traditional cuisine out of sitdown restaurants to the places young people hang out. Hes one of the first chefs to put indian delicacies in bars and pubs. We wa nted indian delicacies in bars and pubs. We wanted it to be a gastro pub with oui we wanted it to be a gastro pub with our own definition because we didnt really wa nt our own definition because we didnt really want to ride on what existed in england, which is essentially where the word came from. It has the tendency of being more formal and clea n tendency of being more formal and clean and Straight Lines and white ta blecloths. Clean and Straight Lines and white tablecloths. It was putting the spin and the fun back into the product, into a and the fun back into the product, intoa pub and the fun back into the product, into a pub space but also focus on food and being unabashedly indian. For indian entrepreneurs, getting Young Indians on board is crucial to taking the new age food global. But with a host of Global Cuisine is available and popular here at very affordable prices, they re available and popular here at very affordable prices, theyre not only competing with traditional indian fare. So while tricks with the food might get customers early on, it could be tough to get them coming back. Aziz, bbc news, delhi. Thats it, we want to go and find some food shilpa kannan. Flooding has caused billions of pounds of damage and ruined thousands of homes in the uk in the last few year but the government isnt doing enough to tackle them. Thats according to mps who criticised a lack of action two months after they recommended a Major Overhaul of the system. Fiona lamdin has more. Sadly not such a rare sight, waging war against the water as roads are transformed into rivers. In recent yea rs transformed into rivers. In recent years theres been severe flooding in cumbria, yorkshire, scotland and somerset. Two months ago the environmentalfood and somerset. Two months ago the environmental food and Rural Affairs committee ephedra called for a radical overhaul to what it called the governments disjointed flood management. Just one of the many criticisms levied at defra, it hasnt created a National Floods commissionerfor hasnt created a National Floods commissioner for england. Flooding isa commissioner for england. Flooding is a much more regular occurrence affecting many more people than it ever has done. Sober citizens of this country want to see the government protect them against flooding, weve asked some questions and made some recommendations, its the governments responsibility to protect its citizens. Defra say its already implementing many of the report suggestions, such as managing Water Courses across entire catchment areas. But say there is no need for structural changes. 0ver the next five years the government is investing £2. 5 billion On Building Flood Defence Schemes across the country, protecting an additional 300,000 homes. Across the country, protecting an additional300,000 homes. But across the country, protecting an additional 300,000 homes. But with Climate Change were being told to expect more heavy rain, increasing the flood risk. And so for this select committee its unlikely the governments current interventions will be enough. Fiona lamdin, bbc news. Coming up at 6am on breakfast, cjarlie and naga will have all the days news, business and sport. Theyll also have more on plans to punish speeding drivers theyll also have more on plans to punish speeding drivers in england and wales. Fines in the future could be based on the Drivers Income with some expected to pay a maximum of £1,000. The top stories this hour the Uks Supreme Court will this morning deliver its long awaited ruling as to whether Prime Minister theresa may needs pa rliaments authority before she can start the process of leaving the eu. President trump has cancelled a massive free trade deal, the tra ns pacific partnership. Its a decisive shift in americas dealings with the rest of the world. The deal negotiated by the Obama Administration was never ratified. Mr trump said the move was great for the american worker. Bernie ecclestones four decade reign in charge of formula 1 has come to an end. The sport is now in the hands of new owners, the American Company Liberty Media and chairman chase carey. So, we are going to begin the news review with a signature, donaldj trump, president of the United States. The ft leads with a picture of donald trump who has fulfilled a Campaign Pledge by signing an Executive Order to withdraw from the Trans Pacific partnership. The 12 Nation Trade Deal was a linchpin of former president barack 0bamas asia policy. The times leads with the current fall out over the uk governments the times leads with the current fall out over the uk governments handling of a botched missile test in june last year. According to one of its sources, the Us Government asked britain to keep the trident malfunction a secret as the Obama Administration feared the failure would put Americas Nuclear deterrent at risk. In the independent, britains Supreme Court will rule later whether parliament or ministers have the power to begin the brexit process. Meanwhile, politicians in Northern Ireland are preparing measure to block the uks withdrawal from the eu. The telegraph Business Pages report that banks are using the euro less and less in international transactions. Financiers increasingly prefer to use dollars, indicating the declining importance of the euro to the global economy. Any finally, Bernie Ecclestones ito year reign at formula one is over. Hes been removed from his position by the sports new owner, Liberty Media, which has completed its Eight Billion Dollar takeover. The 86 year old will remain as an honorary chairman and will be an advise, according to the sports independent. 2. 9 billion, Forbes Magazine says he is
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