And im not talking hairstyles. Donald trump will present his tax plan today. Big cuts are expected. Will it make multinationals bring their huge foreign cash piles back to the us . And ahead of south koreas election, we hear from Whistle Blowers On The Culture Of Corruption which brought down that countrys president. Welcome to World Business report. Im aaron heslehurst. If you have about eight minutes, i promised to give you a fascinating snapshot of the world of business and money. Lets start in the us. Shaking up the tax system has been a major theme of the trump administration. Today hes promising what he describes as A Big Announcement on his planned reforms. In fact mr trump has already said hes planning what hes called maybe the biggest tax cut weve ever had. Take a look at this. During the campaign he talked about cutting the top individual tax rate from 36. 9 to 25 . In terms of business, he wants to cut the Corporate Tax rate from 35 to 15 . Mr trump has also proposed chargin
Oldest bank italys Monte Dei Paschi requests a state bailout, after plans to save itself come to nothing. Plus it is a 660 billion relationship, but could trumps tough talk spell a costly trade war between the us and china . Welcome to World Business report. If you are tuning in for the first time, stay where you are. I know it is early in britain. We have nine minutes and here is a fascinating snapshot of all the latest in the world of business and money. Who put that on the autocue . We are going to start in italy. We have been following this for weeks now. The deepening banking crisis, because in the last few hours, one of the countrys biggest banks says it will request a government bailout. We are talking about Monte Dei Paschi di siena. Its boss has been flying around the world, desperately trying to raise money from investors to keep it afloat. But late on thursday the bank admitted it had failed. Itjust couldnt find enough takers. After a late night meeting, the italian cabinet
Financial news with aaron. And World Business report. A new clear nightmare 3 billion wiped off the value of the japanese tech giant toshiba, after it buys a us Power Business that turns out to be not so powerful. Beating the giants at their own game we visit the man who couldnt wait for the Electronics Industry to come up with usable Smart Home Solutions so, he built his own. Welcome to World Business report. Im aaron heslehurst. Well, happy. What do you say between christmas and new year . Anyway hopefully we have a bite size look at finance. Shares of the Japanese Technology giant toshiba took another massive hit this morning falling 20 thats the maximum allowed before the Stock Exchange suspends all trading. The value lost off the company today is nearly 3 billion. This follows a 12 drop on tuesday. And its all to do with a not so good purchase toshiba made in the Us Nuclear Power industry. Mariko 0i is in our Asia Business hub in singapore. Good to see you and i hope you had a won
With aaron and World Business report. Never mind those Exploding Phones samsungs on track for its best profit in years and pledges to put the Galaxy Note 7 debacle behind it. Plus, technology, trade and trump. The boss of sony tells us why goods and information must keep flowing freely. Welcome to World Business report. Im aaron heslehurst. Also coming up, mr trump locks horns with toyota over plans to build a new car plant in mexico. But first we start with samsung. In the last few hours South Korean Tech Giant has said its on track for the best quarterly profits in more than three years. Its a major boost for the company after the exploding Smartphone Scandal that put a serious dent in its reputation. Lets give you the numbers. In the three months to the end of december, samsung is forecasting profits of 7. 8 billion. Thats up by half on the same period last year, much better than expected and the best quarter since mid 2013. That might come as a surprise as we know samsung was force
Brexit, round one. As eu leaders gather in malta. Maltas Prime Minister calls for a fair deal for britain, but warns it will pay a price for leaving. Plus, small talk, big money. Snapchat files for a stock market flotation, that could be the biggest tech ipo since facebook. Welcome to World Business report. Im aaron hesslehurst. In a minute well have, World Business report. But first this. We start in the maltese capital, valletta, where eu leaders are gathering for a special summit, two days after the British Parliament voted overwhelmingly to start the process of brexit. Prime minister theresa may will be holding one on one talks with various eu leaders. So, what is she up against . Malta holds the rotating presidency of the eu. Its Prime Minister, joseph muscat, has been clear britain cant have its cake and eat it too. He has told the European Parliament this. We want a fair deal for the United Kingdom. But and its a big but that deal necessarily needs to be inferior to membership.