With sally and World Business report. From Boardroom Chief to commander in chief. Trump hands control of his Business Empire to his sons. But ethical questions will remain for americas richest ever president. Plus i apologize to the south korean people. Samsung Boss Jay Y Lee is questioned in a growing Corruption Scandal welcome to World Business report. Im Sally Bundock well be live in seoul in a moment for the latest on samsung. But first we are in the us where, as youve been hearing, President Elect donald trump has been dismissing claims russia holds Compromising Material on him, calling it fa ke news. The row has even threatened to overshadow controversy over mr trumps Business Dealings and concerns he will face a major Conflict Of Interest once in the white house. On wednesday he said hed hold onto his Business Empire but hand complete control to his two eldest sons, donald junior and eric. So will it be enough to silence the critics . Lets show you some of the details. The Trump
Prices have been rocketing in china. Is that suddenly we should be concerned about . Rico hizon will make sense of that for you in a moment. But we start in seoul, where the trial of the century is getting started. The head of the biggest company, samsung, is on trialfor bribery. Samsung might be a household name, globally, but his bossis household name, globally, but his boss is not. So what we know about him . He is the boss of the company, jay y lee, but is known by south korean media as the crown prince of samsung. That is because he is the only son of the chairman, lee kun hee, who was convicted of bribery and tax evasion himself, but was pardoned. So jay y lee has been in charge since his father had a heart attack in 2014. He has been the de facto boss. So the lee family are phenomenally wealthy. You can see the figure behind me. Forbes magazine ranking them asias richest Family Last Yearfor Magazine ranking them asias richest family last year for the second year ina family last
Seeing opening slightly down. Is it childs play or an incredible Business Idea . Is it childs play or an incredible Business Idea 7 the is it childs play or an incredible Business Idea . The former publisher who opened the door to magical toys. And the former uk chancellor, George Osborne, is to be paid almost 800,000 a yearfor osborne, is to be paid almost 800,000 a year for advising the osborne, is to be paid almost 800,000 a yearfor advising the us fund manager forjust 48 days work. Politicians are out of office but in the money. Do you think this is right . Get in touch. Welcome to the programme. We start in the south korean capital, seoul, where whats being called the trial of the century has begun. The man in charge of the countrys biggest company, samsung, has formally denied charges of bribery and embezzlement in a scandal that has also seen the president impeached. Samsung may be a household name Around The World, but its boss isnt. So, what do we know about him . Jae y lee is
The second quarter. It is teaming up with panasonic to build a socalled gigafactory. The plant will produce lithium iron batteries, which has been a challenge for tesla. Cory, what is your take on the numbers . Are they good, not so good . Yes. There were some numbers that were good and some numbers that were not good. There were some things that were weird. Lets give tesla credit where credit is due. They showed a revival in sales. The company has seen a decline in sales in a quarter over quarter basis. March quarter going into june, you thought maybe in the early parts of summer they would sell even fewer cars. Tesla saw an increase in the number of cars sold. The sold about 1200 more model s cars, and that meant a 17 quarter over quarter increase. They need to do that. They have had a big target out there for annual sales in terms of units of 35,000. Even the revenues are really hard a lot of times we look at companies and say, look at the revenue number, look at the earningspershar
Them. Also joining us, David Kilpatrick who literally wrote the book on facebook, the facebook effect. And from new york, sarah frier who covers facebook in and out. David kirkpatrick, i want to start with you. We get these Quarterly Earnings and we are reminded yet again aha. Wow. Look at what they are able to do. What is your reaction . We are getting used to days like this. Theyve had four in a row now now that they have figured out mobile. I think it is becoming increasingly clear what a colossal money machine this company can become and is becoming. My book came out in 2010 and when i wrote it, i had no idea what happened. I thought it would be a Good Business to that point, this is a company that generated nearly 3 billion in revenue in the three months stretch. About 1 billion more in the same time last year. Adam burke, can you explain to us how exactly this works . How are they better able to target ads to people on facebook which then marketers are happy with . It really come