The Maverick Billionaire turned president but will trump and xi get down to some Serious Business or will the meeting prove to be too difficult . The rain and wind may have forced fans off the course of the masters Golf Tournament in augusta but the event that attracts the Worlds Golfing Elite is big business. Weve been crunching the numbers. Welcome to World Business report im sally bundock. Also in the programme it is Interest Rate decision day in india. Well be live in mumbai. But first, our top story. A much anticipated meeting between the leaders of the worlds two largest economies. On thursday, us President Donald Trump will host chinese Leader Xijinping at his Mar A Lago Resort in florida. It is the very first time they are meeting in person and trade ties are expected to top the agenda. Atjust over 659 billion of goods and services in 2015 its one of the biggest Trading Relationships in the world. Last week mr trump tweeted that todays meeting will be a very difficult one in that we can no longer have massive trade deficits. Trump has been outspoken in his desire to put America First and in terms of what he might do about it during his election campaign. Mr trump floated the idea of a 45 tariff on goods from china. But the big problem donald trump has is that its heavily tilted in chinas favour because the us had a deficit of 336] billion. There have been indications china would retaliate to any such move and injanuary president xi said Waging A Trade War will only cause injury and loss to both sides. So will the two leaders see eye to eye . And what do the businesses in new york want to hear . Samira hussain sent this report. We cannot continue to allow china to rape oui we cannot continue to allow china to rape our country. They have taken oui rape our country. They have taken our money, they have taken ourjobs. China is a currency manipulator. America has lost 70,000 factories. Since china entered the world trade organization. Probably not the best way to tee up a meeting with americas second largest trading partner. But meeting they are, at the trump estate in florida. Two countries have a lot to discuss. Take this custom Lighting Manufacturer in suburban new york. The import products from china to create some of their Lighting Features and they have also sold to china, something they will not do again. I want to take an order i will not take an order for china in a national account. Iwill sort will not take an order for china in a national account. I will sort them locally, they have to figure out to get it to china. Because it is that difficult . It is, it is that difficult. We are just not on an even playing field. Lieberman believes it is china that has to change, making it easierfor Companies Like used to do business in the country. But mr trump will have good times those wants with the reality that americas economy depends on a Working Relationship with china, and his bombastic style makes some uneasy. 3896 of all apparel comes from china. 73 of all footwear comes from china. How Supply Chains are entrenched in china. If anything were to happen to that relationship it would be a big trouble for retail and america. There is a lot riding on this first face to face meeting between President Trump and president xi jinping. President trump has had a lot of success with trade populism, but establishing a viable trade policy is something very different. We will discuss that meeting a bit more detail later on in this half hour. Lets move on to other stories. In a few hours time the Central Bank Of India will announce its latest rate decision. Even though rates arent expected to change, the new governor is likely to release some comment about the demonetisation that has taken place in india. Now three months in since old currency was declared invalid, have the People Of India coped with the transition . And when is the central bank likely to lift restrictions of daily withdrawals . Samir hashmi is in mumbai for us. Tell us more about what the central bank is likely to say today about that problem . Well, sally, a direct comment is not expected from the governor of the central bank. There are two reasons for that. Number one, the e Monetisation Programme seems to have been settled on the ground now. Di monetisation. There is enough liquidity in cash now. This problem has really reduced over the last few months. That is why the government governor may not say anything directly. As far as Interest Rates are concerned most economists predict they will hold rates. There are two reasons. Number one, due to demonetisation people started depositing their cash in banks, and there is too much cash in the banks right now. Number two, there are inflation has seen an uptick in stock the governor of the central bank does not see any reason to cut Interest Rates at this time because they feel that banks are already flooded with cash any to start releasing that into the system. They may look at other tools within the ability of the central bank to push banks to release liquidity or access cash in the system. That is something we will be watching closely, what the central bank does on that. All right, and as we say, most people are not expecting any move on rates. When do people think Interest Rates may be on the move next . Well, interestingly, the last time the central bank had been monitoring policy meeting, for the first time in two years, the central bank said that as far as Interest Rates are concerned, from an accommodating policy, which means that they are tilting towards cutting rates when the situation is final on the ground, they have moved their stance to neutral, which means they will make a call based on inflation, based on the liquidity situation. The growth rate in indias economy is growing fast but inflation has started to rise and that has been the Central Banks top priority in the Central Banks top priority in the last few years. Whenever there has been an uptick in inflation they immediately become cautious and prefer holding rates. That is why there is no reason, economists do not expect any rate cut in the months to come. Thank you. The 81st masters tees off today in augusta, one of golfs four majors. And like any big sporting event, theres some big numbers behind it as Ramzan Karmali has been finding out. If you win the Golf Championship at augusta you get rewarded with a green jacket. Unlike here augusta you get rewarded with a greenjacket. Unlike here on some augusta you get rewarded with a green jacket. Unlike here on some or road the cost of thatjacket is just 250. Elon saville row. If you win the tournament to get 1. 8 million, lack writtens Danny Willett did last year. Even if you come last, you still get rewarded with a cheque of 20,000, plenty for a jacket like this. But for us Mere Mortalsjust a jacket like this. But for us mere mortals just getting into the ground could be quite an expensive day out. 250,000 people are expected to visit the famous augusta national, with some pain between 30 and 100 and 15 just to get some pain between 30 and 100 and 15just to get into the ground. Last year it was estimated that ticket Sales Revenues were 35 million. And once you are on the grounds, dont expect your wallet not to take another hit. The cost of a chicken sandwich, 3. A bottle of water, 2. Perhaps you are better off staying in and watching it on the tv. Dont worry, the organisers get paid for that too. International broadcasting rights, 25 million. Jab holdings, the owner of krispy kreme doughnuts, will buy the bakery chain panera bread for 7. 2 billion, as it expands its coffee and Breakfast Empire in the us market. Panera has about 2,000 bakery cafes in the United States and its fresh offerings appeal to Health Conscious consumers. The founder and ceo of amazon, jeff bezos, says on he is selling about 1 billion worth of amazon stock per year to fund his blue 0rigin rocket company. In all he expects to spend about 2. 5 billion developing a rocket that can lift satellites and eventually people into orbit. Blue 0rigin aims to launch paying passengers on 11 minute Suborbital Space rides next year. That is quite an interesting story, the space race between the business billionaires. Looking at the markets, in asia they are reacting strongly to what was going on in the us yesterday. Lots of news coming from the Federal Reserve. Comments in their minutes from their last meeting spooking investors worldwide. There is talk of the Federal Reserve basically shrinking its own balance sheet, but also some of the comments they have made about the fact that stocks have gone too far caused a real stir at the end of trading on wall street. Lauer and the down slightly, but the s p 500 was up by 0. 8 and in the last two hours of trade it fell and reversal of that. We will be back in a moment with a look at some of the other stories in the news. Stay with us andi stories in the news. Stay with us and i will see you then. Theres a call for the Drug Ketamine to be used more widely by the nhs to treat depression. Psychiatrists in oxford say theyve had some success with a human trial using the class b substance, which is also used as a horse sedative. Theyre now calling for a National Database so that doctors who prescribe ketamine can monitor results. 0ur health correspondent, jane dreaper reports. Life is good for helen. This is the best she has felt in seven years. Depression and anorexia took their toll, but taking part in this nature struck trial has stopped her from feeling as though she is drowning in her own thoughts. I can connect with my kids. I can take my kids to their friends birthday parties, gone the odd play date every now and then. Actually be present in my kids lives, which is the most important thing to me. Helen is among the first of patients to have this expanded to treatment. Doctors can prescribe ketamine is a licensed drug. All the patients in this trial had moderate or severe depression, and other treatments have failed. 42 of the 101 patients felt much better after having ketamine. It is really important for us to use it in a controlled environment, obviously. What we would like to do is see more centres starting to use ketamine, because we think that way we will get more experience of exactly how we can help people for whom really nothing else has worked. Patients in 0xford receive the drug through a drip in carefully controlled conditions in hospital. The doctors here believe thousands more people could an effort from this treatment. But they want ketamine should only be taken under medical supervision. Ofa be taken under medical supervision. Of a worn. Coming up at 6 00 on breakfast, Charlie Stayt and sally nugent will have all the days news, business and sport. Theyll also have more on a landmark, Supreme Court ruling, on whether parents in england can take their children on holiday during term time without breaking the law. The top stories this hour President Trump has called the deadly gas attack in syria on tuesday an affront to humanity, and said it changed his view on Bashar Al Assad. Previously, the Us Administration said trying to topple mr assad would not be a priority. Aung san suu kyi, who is in effect the leader of myanmar, has rejected International Criticism that she has stood by while the countrys Rohingya Muslim minority is ethnically cleansed, killed or gang raped by the national army. A series of devastating floods in north west peru have left 100 people dead and tens of thousands homeless. Roads and bridges have been swept away, and the air force deployed to airlift thousands of people. Russias Supreme Court is considering whether to ban jehovahs witnesses, on the grounds that they could hold extremist views. Any ban could affect around 175,000 members of the religious movement. Sally is back because its time for our news review. The telegraph leads with the deadly chemical strike in syria, and comments made by us President Donald Trump who said the syrian leader Bashar Al Assad had crossed a lot of lines, and that the United States has a responsibility to act. 0n the front of the guardian, one of President Trumps chief strategists, steve bannon, has lost his seat on the Us National Security council. The paper says his removal shows the growing influence of the new National Security advisor, hr mcmaster. The ft reports the uk Prime Minister has begun to dismantle roadblocks to a brexit deal, including accepting a possible extension of free movement. Meanwhile, the eu has agreed to discuss a potential association
comparemela.com © 2020. All Rights Reserved.