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tv   World Business Today  CNN  June 15, 2011 1:00am-2:00am PDT

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you like usher music in the car. >> oh, no! you just killed off 80,000 fans. he plays usher music? great to meet you. you're a close, loving family. whatever does happen i wish you all the luck. >> thanks, piers. >> best of luck. >> thank you. hi, i'm zain verjee. here are the headlines. demonstrators are hitting the strooets of athestreets of athe. two big greek labor unions plan to stage a strike as they stare at more austerity and cuts. lashing out against air strikes on libya accusing nato of attempting regime change and political assassination. later today the british prime
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minister, david cam can ron, will meet with anywnato to talk about the successes of the air campaign. syria's crackdown on dissidents is spreading across the country's north. the military campaign has sent thousands seeking safety. many remain in syria but more than 8,500 people have reportedly crossed into turkey. pakistan's intelligence agency has taken into custody a number of cia informants who provided information leading to the killing of osama bin laden. u.s. officials say one detainee copied the license plates of cars visiting the bin laden compound in the weeks before the raid. those are the headlines. i'm zain verjee. "world headlines" starts now. good morning from cnn london. this is "world business today" and these are the top stories on wednesday, june the 15th.
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austerity anger spills into the streets as thousands of greeks prepare to march on parliament. u.s. fed chief ben bernanke says stop using the debt ceiling to score political points. and it's literally a bargain basement as one company branches out into economy class bunkers. tuesday's trading represented the dog days of summer. wednesday, it seems, is dragging us right back into the doldrums. tokyo is one of the few markets to be reporting a rise today thanks in part to the upward trajectory of the nuclear power plant operator te pco. shares are up another 32% after japan's covenant approved an aid package. volcanic ash clouded the financial outlook of airlines. stocks had a weaker opening. let's have a look at how they're faring at the moment. a number of them in the red, in
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particular the cac 40. investors concerned about news from moody's, three of france's largest banks are under pressure after the rating service put the firms under review for a potential downgrade. as you can see the cac 40 down by 0.4%. the british banking sector, stocks there taking quite a bit of a hit in early trading. let's look at where they stand at the moment. we have a number of these shares down like, for instance, barkley's down by 1.25%. rbs losing about 1.56%. this is likely because -- they're falling because the minister is expected later on today in a speech across the city of london to back recommendations that banks separate the consumer and investment divisions to help insulate customers from future financial crises. as you can see a number of those banks down especially the ones with significant retail arms
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like, for instance, lloyd's and rbs. now let's take a look at the currency markets. this is where we stand at the moment. of course concerns over the health of greek sovereign debt very much weighing on the euro. take a look at that trading at 1.4373 versus 1.6363. markets closed earlier today large ly due to inflation fears in china and india and despite gains on some of the u.s. markets in tuesday's session. let's go over to our business analyst who is in hong kong live with the numbers. hi, ramy. >> it did close up about a third of a percent and thanks to tepco as well as honda motor. tepco shares rallied closing at more than 32%. that's good news for investors but let's remember one thing that tepco has lost about 90% of
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its share value since march 11 and still has a long way to claw back when you see that little up point just right there. that's where we are now. tepco is the operator of the crippled fukushima daiichi nuclear plant. it applies energy to about 26 million people in the region, and that area accounts for about one-third of the economy. the hang seng fell about two-thirds of a percent. the big headliner was nine drag ons paper, a recycled paper company owned by china's richest woman. shares fell 21% yesterday before trading was halted. that came after standard & poors actually withdrew its credit rating on the company. the s&p said had hadn't had access to their records the past half year so it couldn't give the company a proper credit rating. on over to the mainland and in shanghai the shanghai composite fell nearly 1%. that made sense after china's cpi came in hot at 5.5%.
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that was the highest since mid-2008. next monday a new banking reserve requirement, the rrr, will take effect. 21% to 21.5%. and finally a quick note over to mumbai. inflation worries are mounding over there. new data showed a jump in inflation to 9.06% in may. tomorrow that reserve bank is expected to raise its benchmark interest rate by 25 basis points. inflation are for asia's number one and number three largest economies this week, that's the deal. back to you. >> thanks very much for that, ramy, in hong kong. let's recap what happened on wall street on tuesday. stronger than expected retail and manufacturing numbers did manage 0 to help stocks to post their best gain since the month of april. by the close the major indices had added between 1% and 1.5%.
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this is how the early market indications show we could could start trading today. as you can see the dow jones composite could lose about a third of a percent at the start of trading and we also have a number of the other markets such as the nasdaq and the s&p 500 also down by a similar amount in percentage terms and in premarket trading. the immediate fiscal future prompted the federal reserve chairman ben bernanke to make perhaps his strongest statement yet on the nation's upcoming debt deadline. on tuesday bernanke said that he appreciated the insistence on cutting federal spending to reduce the $14 trillion debt. he did say that refusing to raise america's total debt limit as a way to force budget cuts is in itself, it seems, self-defeating. >> recently negotiations over our long running fiscal policies are tied to the issue of raising the statutory limit of the federal debt. i fully understand the desire to
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use the debt limit to force necessary and difficult fiscal policy adjustments. but the debt limit is the wrong tool for that important job. >> so what exactly is the debt limit and why has the fight over raising it become so bitter? let's take a look at this. in the united states congress, it seems, controls spending. it sets a limit on how much the u.s. can borrow as a total. right now that limit stands at this figure. it's $14.29 trillion. but the u.s. actually spends about $118 a month more than it takes in and it hit its foreign limit back in may so a month or so ago. the treasury secretary adjusted some investments and has staved off a partial default until august 2nd. after that he says that without an increase in the debt limit, the u.s. will simply won't be able to pay all of its bills. many in congress say that the u.s. spends too much, and they want deep budget cuts before
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agreeing to raise this debt ceiling any further. u.s. vice president joe biden is heading up the white house negotiations with congress to roa reach an agreement and president barack obama says he expects congress to raise the limit before august 2 but he's predicting some dire consequences if that doesn't happen. >> i do not want to see the united states default on our obligations. the credit of the united states is the underpinning not the only of our way of life but the global financial system. we could have a reprise of a financial crisis if we play this too close to the line. we're going to be working hard over the next month and my expectation is we'll get it done in a sensible way. that's what the american people expect. now let's it turn our attention to the greek debt crisis as the prime minister struggles to get parliament support for the austerity plans,
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labor unions are voicing their opposition with another round of massive strikes. international lenders say parliament must pass austerity measures before they'll approve a second bailout for athens. the finance chiefs met on tuesday only to find they'll need more time to reach a deal. leaders are currently split over whether private bondholders should share any of the burden of any new bailout. joining me now live from the greek capital is correspondent elin da. this is getting serious. give us how people are feeling on the streets of athens. >> reporter: people have been taking to the streets for the last three weeks and today thousands of people are preparing to march through the center of athens. this is going to coincide with the debate in parliament of a new austerity measure. the unions have also called the general 24-hour strike. they will be joining the protesters and have said altogether what they will try to
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do this afternoon is block the law makeers from going into parliament to begin the debate on new measures. so these measures are very un p unpopular with the greek people. they include a number of tax hikes. they include a number of job cuts in the next five years and this is all at a time when unemployment is very high. it has stalled by 40% in just the last year. so people are saying, you know, this is just too much for them. they don't see an end to this. all they see is grease negotiating a second bailout. they are saying that the numbers don't add up. so they're taking to the streets because they do not want to see any more measures going through. >> what's the alternative? >> reporter: well, there aren't very many alternatives and this has been the problem. the idea of defaulting or some
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kind of a detaugfault, whatever name of that will be. this is not the most popular of ideas for the greek people. if you asked them on the street they don't really have a solution. and this is what their main is. they don't know what's going on but they don't have a solution. they do not trust the politicians. the figures are showing the government is losing its popularity massively. it's now trading hyped the behi the opposition for the first time. and a number of its own politicians are saying they do not want the measures to go through. so there aren't very many obvious solutions for the people. >> okay, elinda, thank you very much for that update. joining us from greece. ash clouds from chile's erupting volcano still causing travel problems on two continen continents. flights remain suspended in argentina and uruguay. airlines are closely watching
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the situation. flights to places in western australia are on hold but some carriers are finding ways to fly around the ash. flight bans are finally being lifted at melbourne's airport in austral australia. several airlines have resumed flights to the island state of tasmania and to new zealand. the volcanic ash advisory center is forecasting the plume will linger 24 hours more, but there's been no word yet on when airline services will eventually return to normal. well, still ahead, money matters in russia. financial figures gather for the st. petersburg financial forum. as they try to pave the way forward for emerging economies, why is the host nation in danger of being left behind? i'm good about washing my face. but sometimes i wonder... what's left behind? [ female announcer ] new purifying facial cleanser from neutrogena naturals. removes 99% of dirt and toxins without dyes, parabens, or harsh sulfates. so skin feels pure and healthy. [ female announcer ] new from neutrogena naturals.
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hello and welcome back. it's almost midsummer in western russia, and as the nights get shorter in st. petersburg economic movers and shakers are hoping to shed some new life on the path to global growth. the venue is an eccentric choice. among all the world's major emerging markets russia may have to wait the longest for its own moment in the sun. that's certainly the warning coming from the international monetary fund after a recent mission to russia, its prognosis is bleak. the imf says without wholesale reform russia risks economic stagnation. among the flaws that identify these things overreliance on oil exports the that could leave the country vulnerable to recession, policies that stifle small businesses and curb innovation as well as excessive consumption and under investment. well, in terms of growth russia lags behind the likes of brazil, india and china, the
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other so-called britt countries and on the eve of the st. petersburg economic forum, we are finding out why the world's biggest country is being left behind. >> reporter: if one was searching for a company with an emerging market dna, russian helicopters would certainly tick all the boxes. it is the bric countries that keep the blades rotating for the ceo, 40,000 strong, they compete with the likes of boeing and euro copter. >> translator: traditional markets are the brics kcountrie, almost all the helicopters that they have are produced by us, usually we are the number one in china. >> reporter: among the bricss, russia has a bad climate. they are enjoying the long white nights of sunner but is not considered a bright light when
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it comes to its market pears. global competitiveness survey it's the bottom of the pile. near the bought the om of the g-20 rankings and also of the broader industrialized nations of the oecd. those grades don't deter global companies wanting to plant a flag in russia. the purchase of a russian fruit juice and dairy giant for $4.5 billion is a high-profile example of a push to get in now. invs.ors are drawn to this market of 142 million consumers. more than 10 barrels a day. but that has meant an overdependence on the energy sector. >> change the structure of the economy, to invest in alternative sectors. to a certain extent to try to hold back growth of the traditional sectors is both politically and technically difficult. >> reporter: the two leaders of russia who at times vie for
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power are well aware of the short comes. on their near term to-do list privatizing 900 state owned companies in the next three years, cutting one in five federal workers, and redirecting energy funds to rebuild russia. a lack of investment has left a creeking infrastructure. from power generation to transport, russia is in need of a business class upgrade. the president of austria sees this as an opportunity and recently toured the country with 140 austrian ceos to drum of contracts. >> i believe that austrian it firms will get in the future even more powers because they are behind and they need acceleration and they rely on technology. >> reporter: russia needs to think big to deliver results. it is hosting the winter games and the 2018 world cup.
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analysts say it also has to accelerate reforms to create a favorable climate for small and medium sized enterprises. rpm is a car service center in moscow. its co-founder shares a common refra refrain. >> translator: with all the costs of equipment and insurance payments, our state increases the stress level so that affordability of your company should be high to stay in business. >> reporter: the leaders are rolling out the welcome mat to international investors, but they want to be certain some remnants of the past are not being swept under the carpet. russia's recent growth owes a lot to the country's vast oil reserves but can it keep growing as its supplies continue to shrink? we'll examine issues like that as our coverage from russia continues on thursday right here on "world business today." indonesia is hoping to become an economic powerhouse but the country faces challenges.
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we'll hear from its president and see what he has to say about fighting widespread corruption in the country. also ahead, google hopes to strike a blow against rival microsoft with some help from the clouds. [ doctor ] here's some health information for people over 50.
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that helps you understand what could be putting you at risk. if you have symptoms, you'll learn how treating symptoms is different from reducing your risk. you'll also learn about lifestyle changes and treatment options that can help reduce your risk for heart attack and stroke. there's even a discussion guide for you to bring to your doctor that can help you discuss p.a.d. together. call the toll free number on the screen for your free information kit today. the risk is real. take the next step. call today. welcome back to "world business today." all this week an in-depth look at indonesia and finding out how record growth is transforming
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the country. a burgeoning middle class, indonesia is one of the most promising emerging economies in southeast asia. it does face economic challenges. chief among them is perm income. more than 32 million indonesians live below the poverty line at the moment. the country is also doing poorly when it comes to health care and infrastructure. and in a report on corruption in several countries indonesia scored this figure, 2.8, 10 is the least corrupt, so that means it does have high levels of corruption. it ranked 116th in economic freedom index and environmental groups criticize them for the destruction of rain forests. add to that the country is the world's third largest emitter of greenhouse gases after the likes of the united states and also china. the country's economic efforts is the two-term president who
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sat down with our andrew stevens and began by addressing the question of corruption. >> translator: change cannot happen as quickly as turning over your hand and it cannot happen overnight. sometimes had has to be done gradually and steadily. croney capitalism has been corrected with transparency. the practice of collusion between government officials and business has been rectified and it is not like what happened 10 or 20 years ago. i see that we are heading in the right direction. i admit there are still cases of collusion but i think the overall spirit or the agenda of embarking on fair level business practi practices from my perspective is moving forward. >> reporter: but the watchdog transparency international still rates indonesia quite poorly on
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their corruption index. you have another three years in office. what would you like to achieve on this issue by the time you leave? what do you think you can achieve? >> translator: corruption is indeed our biggest challenge. my biggest challenge. i have to be frank on that. in fact, since i assumed office in 2004, indonesia has launched the most aggressive anti-corruption campaign in our history. and the results speak for themselves. about 150 senior officials have faced the law and some of them have been convicted and sent to jail. and there's now a big movement in our society against corruption. we actually have achieved certain targets but looking at other countries' experiences, hong kong eradicated corruption in about 13 years. i expect that indonesia will need 15 to 20 years to implement a system that will spur a stronger culture or a climate of
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fear of corruption. i think i still have enough time in the next three years and i will continue to intensify efforts to combat corruption. and you can see that interve in full on the next edition of "talk asia. "you won't have to wait long. the show airs just two hours from now at 6:30 p.m. in hong kong or 11:30 if you're watching in london right here on cnn. this time tomorrow it's all about the cost that comes with expansion like the major road to network revamp in jakarta. how people in its path are being caught between progress and on the other hand preserving their way of life. up next, apple settled a legal battle but what sort of victory is it for the winner? plus new hopes for a laptop that runs on the chrome operating system.
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from cnn london this is "world business today." let's take you over to live pictures from athens where greek labor unions are staging a big nationwide strike today. they're protesting a proposed government austerity plan which promises more spending cuts, more tax hikes and also a general financial pain for the greeks. so let's see what's going on in europe where the markets are about 90 minutes into the trading session.
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this is where we stand at the moment. it seems some of these markets the equity market is feeling the pain as well with the exception of the zurich smi which is flat. in france, some are potentially being earmarked for a downgrade that has the cac 40 down 0.4% and the ahead of the chancellor of the uk finance minister's speech later on today in the city of london, he's expected to cleve off the banking operations for some of the commercial banking operations for the largest lenders. to asia now. japan bucked a downward trend. shares of tepco, the company at the center of the japanese nuclear crisis a couple of months ago. those shares shot up by 32%. now tepco has enjoyed a two-day lift since japan's cabinet approved an aid package to cover compensation claims but business elsewhere, as you can see, the
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nikkei adding on the day but the kospi, the shanghai composite and the ask falling on the day. the markets look set for a lower open when trading opens in a few hours from now. this is where we stand in the futures premarket action as you can see the s&p 500 falling the most. that's the broader index down by about 0.4%. in terms of futures. now it was a gain of telephonic tit for tat between the unstoppable apple and its comparatively rival nokia. each accused the other of stealing its the ideas, telephones the underdog that seems to have come out on top. nokia said on tuesday that apple agreed both a payment and ongoing royalties from its sales of its smartphone handset. lawsuits on both sides have now been dropped. so one would assume that nokia is the big winner, right? up against what the company has actually lost recently and it puts it into perspective.
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connecting fewer people these days. its share of the market fell by 5.5% within the space of a year reaching its lowest level since back in 199 the 7. and last month the hand set maker canceled its full-year outlook saying that it would fall well short of the $10 billion earnings it had originally expected. a lot of this negativity, it seems, stems from the operating system. it hasn't attracted as much interest from app developers as those of nokia's competitors like, for instance, apple. analysts estimate the deal with app king -- apple could bring an extra $640 million a year to nokia. but the question is, will that be enough to stop nokia's downward spiral? well, probably not without a boost in popular appeals, some would say. let's take a look at some of the other tech stories this wednesday. the internet radio company pandora has raised $235 million in its initial public offering. the company has yet to turn a
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profit but with 90 million users onboard already investors, it seems, eagerly are buying in. pandora will debut on the new york stock exchange about five hours from now at an opening price of some $16 a share. joe lockhart is known for helping a scandal plagued president save face. now he's joining facebook. lockhart, who ran the white house press office during president bill clinton's second term, will be facebook's vice president of global communications. so a new face there for facebook, it seems. google is set to release its newest gadget in stores on wednesd wednesday. the chromebook is a notebook that runs only on google's chrome operating system and used cloud-based data storage technology. google hopes the new laptop will change the way we think about computers and the challenge for market dominance at apple and microsoft. >> reporter: so google is out
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with its chromebook. looks like a laptop. >> it's a laptop. it's their solution to a laptop. a laptop you can store photos, music, you can store anything that you have on the laptop. you can't do that on a chrome book. it stores everything on google servers which we call the cloud. >> right. >> so you'll notice one of the first things when you start it up it starts up right away. you get right onto the web in just a few seconds. and one of the reasons for that it doesn't have a hard drive. you can't store anything on this device. everything is on the cloud. >> on the cloud, right. so why is this a big deal? >> it's a big deal because google is going after microsoft with this. they think that businesses are going to start adopting these. they don't need to store things own hundreds of thousands of different computers for each user, that everything can be stored remotely on google servers so that you can access all of your business applications no matter where you
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are. >> why wouldn't i just get a tablet, though? >> that's a great question. tablets do the same thing. they connect to the web. you can put apps on them, that sort of thing. tablets are great for productivity and that's why google aiming at the business community. you can as a consumer buy this. it's expensive. $350 to $500 for one of these and for that you can get a full microsoft windows 7 pc. >> reporter: what about a work er? a worker who may already be pretty married to their tablet going to say, oh, okay, yes, it's more productive. are they going to buy that argument? >> this has a keyboard which is great. anyone who has tried to type on a tablet knows it can be difficult. what's great that this doesn't have you can store things to that individual tablet if you want, photos and your airplane or some place you don't have connectivity, you can still be productive on that tablet. >> which you can't here? >> you need to have an internet
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connection for this to work. and that's a real selling point for tablets and net books and other devices like that that compete with the chrome book. still ahead on "world business today" poverty plagues in a p nepal. an exodus of workers. the latest feature of the freedom project shows us how children are being forced to fill the gap in the labor market. anti-wrinkle cream gone...r but not your wrinkles. new neutrogena® rapid wrinkle repair. its retinol formula smoothes wrinkles in just one week. why wait if you don't have to. neutrogena®.
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welcome back to "world business today." part two of our story on child labor in nepal. in part one we heard from children who had been rescued from the labor rooms. how political and economic turmoil are making matters worse for children in nepal. that has led to an unfortunate develop in the textile industry.
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>> reporter: nepal's carpet industry is in crisis. what once was one of the main drivers for the country's economy has also become one of its casualties. llama says he remembers the days when his factory of full of workers, eager to keep up with consumer demand for hand woven rugs. but today the workforce is sparse. >> there was a time nepal used to export and now it's gone right down. there's hardly a million a year. so this shows production has gone down. >> reporter: years of political instability and soaring unemployment, now above 40%, has led to an economic migration that has spared no part of nepal's workforce and that, lama says, has not only hurt his business but may also lead to an
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increase in child labor. >> a lot of the male people have been going out of the country to seek jobs and then the ladies and the children are left behind. and then because of the scarcity of carpet weavers, there is a chance people may want to, again, try to take advantage of including the youngsters. it's a very sad situation if it happens. >> reporter: and it is happening says the former deputy executive director of unicef. >> factories are once again beginning to hire children. and a number of factories where you begin to see a lot of young boys and girls being hired. many of them are bonded. middle men, brokers, go to villages, will talk to parents.
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accept send us your boy or girl to work, we'll lend you a certain amount of money. so long as that money is not paid, they are in servitude. this is essentially a modern day slavery. >> reporter: he works with good weave, mopping the groups, he says, that's turning the tide, working to provide incentives for factory owners who choose to do the right thing. >> in return for not employing child labor, in return for providing better working facilities in their factories, good weave will provide a seal, a label saying this carpet was made without child labor. and when those carpets are sold abroad, consumers are happy. producers are happy. and so it leads to better factories overall. >> reporter: for his part lama says in order for nepal's carpet
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industry to survive, the government needs to find a way to bolster its sagging economy. most importantly, he says, the c consumer should support organizations that are trying to do the right thing. >> people should understand these products are child-free labor and they're worth buying it. this message should be spread as far as possible. >> reporter: and by making an informed purchase, he says, buyers are, in turn, helping to return the trade of hand woven carpets to something nepal can be proud of. earlier we spoke with the joint secretary of nepal's transport and labor ministry. now we asked him specifically about his understanding of the child labor situation in nepal. and this is his reaction to these pictures cnn captured on hidden camera in a back alley factory in kathmandu. here it is. the situation, he says, quote, of child labor in nepal, of what we know and are doing about and our experience is, quote,
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encouraging. we have done a the lot of work to eliminate child labor and some ngos and government agencies are also working in this area, he says. he went on to tell us the government is working to educate parents on the issue so that they send their children to school to get an education instead of sending them into back alley factories. up next on "world business today" how risk taking is helping invigorate their brands.
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welcome back. when you're the boss, you can't afford to fear change. the ceos we've been following, it can mean the difference, of course, between success and failure. and tonight in hong kong michael wu is gambling on an upgrade of his empire while in london it's time to raise her game when it comes to men's wear. previously on "the boss." serving by example. sarah curran becomes a mentor for women wishing to make it big in business. >> i don't think you ever reach a point you think i don't need any more mentoring. >> reporter: and on a visit to london michael wu talks of his doubts, mistakes and regrets. >> there were a lot of misjudgments in the operations, logistics, for example. we completely misjudged that.
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>> reporter: the introductions have been made and the cameras are at the ready. with a small snip of the scissors, maxim's new and upgraded store mx is officially open. helping to it draw in the crowd is a singer, actress, and the face of maxim's moon cakes. michael wu is targeting the younger market and chen's celebrity endorsement makes his new restaurant more appealing. >> when we choose a celebrity we want that celebrity to have the right for maxim, she cares about the community can, about hong kong. so we think that type of image resonates with the maxim brand. >> reporter: it's a crucial moment for michael.
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with the opening of mx, he's re-inventing maxim's hoping to change hong kong's perception of fast food. >> fast food in hong kong is fast food. you're 0 not going to get a very decent, pleasant environment. we want our fast foods to be a bit more pleasant. a bit more comfortable. a bit more stylish. not too much but for people to actually be able to enjoy their meal. >> reporter: michael is moving away from his family's 40-year history, a risk he hopes will pay off by attracting new be a more affluent customers. >> we want to upgrade our service and the customers who are coming to the shop are sometimes executives, females, and they want a better dining experience than what they would expect at fast food.
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>> reporter: high expectations that must translate into profits. >> you would expect on average for a renovated store to achieve at least a 5% to 10% increase in sales from before. if it doesn't achieve that, the renovation was probably not financially worthwhile. >> we're going to do the pose straight to camera, hands in pocket. >> reporter: in london change is afoot. >> standing flat like -- yeah. >> reporter: troy is overhauling mens wear, overseeing it is his boss sarah curran. >> i think with men's the photography is going to be even more detailed because the woman is going to be sold on just what it looks like. if it's amazing, the guy wants
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to see, to be able to visually touch it. >> reporter: today the team is shooting the new collection and sarah has learned that selling to men is a precise art. >> that one, that pose. >> reporter: presentation is frpg. >> originally when we launched men's, i think we were quite ecstatic in the form. everything was consistent in terms there was one blanket rule are for how we presented the clothes but actually as we've sort of understood the male customer more and customer insight we understand that actually every pose almost has to be different according to what the item is and the styling. >> reporter: with troy's help sarah is changing how men's wear is presented. she knows the bar needs to be set higher than it was before. >> there have been many times i've seen products on the site or seen the front page and took it down straightaway because
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it's just not right. and for me it's about hitting it every time and being person at what we do. >> reporter: sarah wants these photos to attract more men to her website. so far they make up only 15% of her customers. sarah has been selling clothes for years, selling to men brings very different challenges. >> to a certain extent you have to take risks because that's what makes you different and will make you a leader, but i would never -- you know, if i make a decision, it's something i completely believe it's the right thing to do. >> reporter: next week on "the boss" -- >> done right it could be our next signature product. >> reporter: he's tasted it and named it but will michael wu us a choke lat cake be flying off the shelves? and in new york steve hindy takes a gamble on a new product as he goes from beers to tonics. >> so that's it for "the boss." now promoting post apocalyptic
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accommodation has for too long, it seems, been an underground enterprise. while the living quarters are saying strictly subterranean, one company, it seems, is moving doomsday dwellings into the mainstream. when vivos launched it focused on living in luxury after earthly annihilation. but for a little under $10,000 you can now gain access to a bargain bunker with the bare necessities, six months' worth of survival. if you can't afford it, don't worry. it's not the end of the world. and you can read that story and watch the report that goes with it online at cnnmoney.com and don't forget to contact us via facebook at cnn.com/cnnwbt. and that's about it for this edition of "world business today." thank you very much for joining us. -- captions by vitac -- www.vitac.com
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