Transcripts For BBCNEWS World Business Report 20161227 : com

Transcripts For BBCNEWS World Business Report 20161227



from bbc world news. now for the latest financial news with sally and world business report. how 5 billion euro became 8.8 billion over a weekend — that's what the european central bank says struggling monte dei paschi now needs. and toxic news — shares in toshiba plunge in tokyo on reports it may face a a5 billion dollar loss on its nuclear operations in the us. welcome to world business report. i'm sally bundock. also in the programme putting sd printing to good use — we hear how this new tech can is helping those who desperately need prosthetic limbs. but first: the european central bank has told the failing italian lender monte dei paschi di siena that it needs 8 point 8 billion euro — to avoid collapse. that is quite a bit more than a previous estimate of 5 billion euro. on friday the italian government approved a decree to bail out monte dei paschi — the worlds oldest bank and italy's third largest — after it failed to win investor backing for the desperately needed capital increase. the bank, which has been crippled by years of losses and loans that may now never be repaid. the fear is that it's collapse could have triggered further failures among banks in italy, and potentially start a new european banking crisis. with me is dr andreas hoepner, associate professor of finance, at the icma centre of henley business school. good to see you. we have taught about this already. but these latest details coming from the european central bank but other high—profile agencies in germany? it is becoming more complicated, it is becoming more complicated, it is becoming more of an european issue because it is the first time the new regulations will be tested and it will be interesting for banks all over europe and some banks may decide to use that little bit in their risk—taking and say the president of the german bank voiced concerns. there are arguments of the european rules are meant to take institutional investors into consideration to share the losses. a lot of retail investors in italy have invested. to put this into perspective, that we are saying is that in orderfor this bank perspective, that we are saying is that in order for this bank to perspective, that we are saying is that in orderfor this bank to be bailed out and rescue, the bond holders would have to take a major haircut and a lot are private individuals. many have held a share of this bank for many, many years, assuming they would get that money back and some interest. exactly. private individuals may lose some of their savings. they are trying to keep the senior bondholders from losing anything. and also those from having a bit more risk should get involved and get a haircut. however to retail investors it is subordinate. in italy they only have a prime minister who has been there since the 12th of december, it could lead to new elections, a very difficult political situation in italy and this is a large number of people that could be impacted by this decision? political implications in italy but also around europe potentially so my expectation would be that the story will continue beyond the french elections. thank you for coming in andi elections. thank you for coming in and i am sure we will talk to you about it again. we will keep a close eye on this on the bbc world news. japanese conglomerate toshiba corp says it's considering booking a one—off loss of about 100 billion yen — that's $850 million — on a us nuclear power acquisition made by its westinghouse operation last year. leisha chi is in our asia business hub in singapore. nice to see you. more problem sport toshiba? the troubles do not seem to end for toshiba. we saw them have their shares plunged by as much as i6% in tokyo today on these concerns are that it will rack massive loss in the nuclear business. this is the biggest decline for their shares since may 2015 and according to reports it may lose as much as 11.3 billion us dollars. i would be the lower scale of that loss. toshiba said ina lower scale of that loss. toshiba said in a statement that do not know the source of this report and they are assessing the current value of its assets but investors are concerned because toshiba has a week finances and any further loss would really damaged their books because i had the massive accounting scandal that led to record loss and three of their company had to step down. they received a fine from regulators that last year was not shareholders are really unhappy with toshiba at the moment. this is another problem for the company to face so it will not bea the company to face so it will not be a happy holiday in the toshiba boardroom. thank you for updating us on that. it's estimated that 4 out of every 10,000 babies is born missing either a hand or the lower part of theirarm. prosthetics can be extremely expensive and children soon outgrow them — which prompted two british dads to use their spare time and cash to see what they could do to help. zoe kleinman reports. this nine—year rod was born without a hand. the video of her receiving her first a hand. the video of her receiving herfirst 3—d a hand. the video of her receiving her first 3—d printing a hand. the video of her receiving herfirst 3—d printing prosthetics went viral after it was picked up by google as a highlight of the year. her mother said it has given her a huge boost. when she took it into school, just the reaction from her friends, how cool. you have to bend your elbow and then it will tighten the strings and it will bring... it will make the fingers make a feast so will make the fingers make a feast so you will make the fingers make a feast so you can will make the fingers make a feast so you can hold things. —— fist. will make the fingers make a feast so you can hold things. -- fist. you will not believe the size of this operation. this is where we built, designed, print 3—d arms for children. stephen and drew met because stephen was searching for an affordable for himself. they now work together in their spare time and relying on funding donations. show us your hand. this is the hand that drew originally built me. it got me so enthused that i knew straightaway i wanted to get involved and do the same thing. it has been a passion, really, the children, where they have either no option or a poor option, children, where they have either no option ora poor option, i children, where they have either no option or a poor option, i think thatis option or a poor option, i think that is where i needed to make a change. the 3-d printer i'm cost less tha n change. the 3-d printer i'm cost less than £30 each to produce but it does not work for all prosthetics. the reason it is not normally used is because the materials and used cannot take the stresses and strains associated with the weight of the body, running, twisting, walking et cetera. isabella can now walk the family dog. amazing. that is all from me for now i will see you soon. bye—bye. the children's commissioner for england says the vast majority of young carers receive no support from local authority social services. anne longfield says four out of five are "going under the radar". the local government association said funding cuts meant councils were being forced to make difficult decisions. helena lee reports. this is daniel, one of thousands young carers in england. his tent and leaves with his mother who has a brain tumour. he is her main carer at home. when he is not at school, he helps around the house that he co nsta ntly he helps around the house that he constantly worries about his mum when he's not there. i started becoming all responsible and i started doing the cleaning. started doing cooking better. i started paying more attention to what my mum was doing. because i was not around, i was always worried about how she was. today's report by the children's commissioner found that of the 160,000 young carers in england, 120,000 children aged 5—7 tea m england, 120,000 children aged 5—7 team may not be known to local authorities. —— 17. 160 young carers we re authorities. —— 17. 160 young carers were identified as under the age of five. this is often systematic support for vulnerable family members who may have mental illness 01’ members who may have mental illness or physical disabilities. they need to be able to flourish at school, they need to be able to enjoy childhood while growing up while offering the familial support you would expect. the local government association says funding cuts to children's services means councils have been forced to make difficult decisions about what support they are able to provide. it says all young carers should receive an assessment to find out if they need help. the civil war in syria is almost six years old. the vicious fighting among the various factions has led to more than 11 million people being forced from their homes. almost half have left the country. the international medical corps, a charity, has been interviewing some of those living in turkey about what precious possession they grabbed before they fled — work funded by the european union. now, the bbc‘s victoria derbyshire programme has been to meet some of them. (music playing). translation: i from a village translation: ifrom a village in translation: i from a village in the homs countryside. ——i am. i raised them by myself. another child of mine, they took him by force. they said he was with the al—nusra front. ido said he was with the al—nusra front. i do not know where he is now. i have not heard anything about him forfour have not heard anything about him for four years. have not heard anything about him forfour years. i have not heard anything about him for four years. i left for have not heard anything about him forfour years. i left for my children. i came to turkey and it has been so hard. i love coffee and my grandfather and uncle and uncles loved it too. this coffee pot i took it to. if i went on a pic nick, everywhere, it stayed with me and it stays all the time stop —— picnic. when the airstrike happen, i was sitting in a house. i had 20 hiding there. the plan came and attacked us. there. the plan came and attacked us. we were drinking coffee. i was washing the cups. i immediately put it in washing the cups. i immediately put itina washing the cups. i immediately put it in a bag. i asked my son to find a car so we it in a bag. i asked my son to find a car so we could leave. we loaded the car and left. i love coffee, evenif the car and left. i love coffee, even if i died, i would drink coffee. i like coffee more than food, more than anything. if it's morning or night, i'll still drink coffee.

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