Skip to main content

tv   Asia Business Report  BBC News  June 12, 2017 1:30am-1:46am BST

1:30 am
on with the job of making brexit a success. she's due to meet her new cabinet on monday morning. one of the people tipped to replace her after her disappointing election, borisjohnson, has publicly said he backs her leadership. exit polls suggest the party of the new french president, emmanuel macron, is on course to win around three—quarters of seats in the national assembly. and this video is trending on it's a china eastern airlines jet which had to make an emergency landing when one of its engines was damaged. the crew spotted the damage after take off and the plane returned safely to sydney airport. no—one was hurt and the incident is being investigated. that's all from me for now. stay with bbc news. and the top story here in the uk: police investigating the manchester terror attack say they have a clearer idea of salman abedi's movements in the days before he carried out the bombing. now on bbc news, all the latest
1:31 am
business news live from singapore. the british prime ministerfaces a showdown with conservatives after losing her majority in last week's election. and live streaming is a multibillion dollar industry, but check out some extreme measures chinese internet stars take to become popular. good morning, asia. hello, world. welcome to another edition of asia business report. i'm rico hizon. it's a monday. glad you could join us. it's a monday. glad you could join us. the former british chancellor, george osborne, has said he does not believe there is enough support for a hard brexit following the loss of
1:32 am
tory seats in the general election. those comments come as theresa may meets conservatives to shore up her position after they lost their majority last week. she is trying to negotiate a deal with northern ireland's democratic unionist party to give her a majority in the house of commons. as we report, it comes down to trade, as europe command a key export market for northern ireland. in economic terms, northern ireland. in economic terms, northern ireland is less economically developed as the republic of ireland and the uk. it is a smaller economy with lower levels of activity and exports and heavily dependent on the state. those sectors apart from the states it relies on our tourism, manufacturing, and food. and they need large supplies with low—skilled labour, mostly from eastern europe, especially poland. if britain leads the single market, the stated
1:33 am
position for now, the dup may request an exemption on the free flow of labour into northern ireland as part of its package with the conservatives wwe also wants london to pick up the a50 million dollars a year sent to belfast for subsidies on top of the $1 billion a month london already sends to brussels. and then there are political bribes. they want more investment in infrastructure. that means road and rail projects otherwise not economic will not get shot down and will be built. business confidence has sunk after the election as a snap poll found a dramatic drop in confidence following the hung parliament. there are hopes the minority conservative government could stave off a further
1:34 am
fall in the sterling when trading begins on monday. it is at 1.27 to the us dollar. the fall of the pound against the dollar and euro was less dramatic than the drop in the week after the eu referendum injune of last year. central banks from washington to london to tokyo will be announcing if they are indeed ready to raise the cost of borrowing this week. the decision from the fed is coming on wednesday. we can expect market reaction on thursday morning. that comes after a surprising election result on friday. we can expect the bank of japan to announce its policy decision. toshiba is expected to announce who they will sell their business to in a board meeting on thursday. earlier, ispoke
1:35 am
business to in a board meeting on thursday. earlier, i spoke to tony nash from complete intelligence, asking him whether the federal reserve will this week raise interest rates for a second time this year the pill it is quite possible. in the first quarter, gp was up 7%. the economy is looking better. inflation is over 2% one of the key targets for the fed. i would not be surprised to see a rise this week and maybe one later in the year. if they decide to hold in this meeting, why? they could be cautious and say we want more workforce participation and other things. but it is... there is less and less reason to be cautious and more and more reason to be a little bit more active than they have been. the uk, the flux after the elections, will there be a reason for the bank moving on monetary policy? we don't think so. there has been talk about
1:36 am
easing. the uk needs fixed investment, they need investment. retail has come off a bit because of the pound depreciation. but they really need investment to get the economy going again. umm, but the central bank, they are already in middle interest rates, it won't help. the bank of japan, middle interest rates, it won't help. the bank ofjapan, last week, we saw the last quarter gdp revised downwards from 2.2% to 1%. where did they get it wrong? what does this mean for interest—rate decisions from the bank ofjapan members this week? it is interesting. central banks have spent $1.5 trillion in markets. we don't expect the bank of japan to move. there will be —0 .1% on banks. they will keep the tenure
1:37 am
at about 0%. you have got really free money in japan. at about 0%. you have got really free money injapan. there is no cost to holding an borrowing. free money injapan. there is no cost to holding an borrowingm free money injapan. there is no cost to holding an borrowing. it is jekyu cost to holding an borrowing. it is jekyll and hyde. when can we see sustainability in the economy? we don't see much improving injapan until about 2019, ok? don't see much improving injapan untilabout 2019, ok? we don't see much improving injapan until about 2019, ok? we have real issues in retail coming on in 2008 in. we are still not seeing manufacturing numbers getting better. —— 2018. manufacturing numbers getting better. -- 2018. it manufacturing numbers getting better. —— 2018. it is getting better, but not sustaining. that was tony nash from an analytics company. and now we move to some breaking news on the corporate scene. fuji
1:38 am
film has flagged bigger losses than expected from overseas units, 3a0 million dollars. the price fell sharply after accounting irregularities spread to japan. chinese box office ticket sales could have saved the mummy after its wea k could have saved the mummy after its weak opening in the us and canada us. weak opening in the us and canada us. it brought in $70 million in china and south korea alone, setting records for films starring tom cruise. it shows big budget hollywood films remain popular in asia decides failing in america. so many people watch live streaming websites. beijing commonly shuts down ones that are obscene. but people continue to broadcast their daily lives on line, whether they are singing, dancing, orjust eating pizza. and as we report, they are often prepared to take extreme
1:39 am
measures to become internet sensations. this woman sees her road to stardom as a full—time presenter on one of china's live streaming platforms. the competition is intense. she will go to any lengths to do it, including cosmetic surgery. to do it, including cosmetic surgery. translation: it will make my live streaming performance more nice, and greatly increase my fans. that is because today's society values personal appearance. streaming presenters flirt, then, and tell jokes streaming presenters flirt, then, and telljokes to encourage fans to buy virtual gifts. —— sing. it is split by the platforms, agencies, and the anchor. it is not as glamorous as it seems, but it can be lucrative to be live streaming is a big and growing business that is attracting the interest of technology giants, tencent, alibaba,
1:40 am
and others. it more than doubled in the last year with revenues of about 4 the last year with revenues of about a billion us dollars, and it will only get bigger. companies like threeminutetv provide presenters for various platforms, even arranging plastic surgery for would—be stars. translation: there is an overall image. there are parents, emotional intelligence, and so on, we decide how much we should invest. —— their appearance. the ministry of culture is not entirely pleased. it has ordered some platforms to change content in the interest of public morality. but be live streaming craze has gripped chinese viewers and is unlikely to disappear. —— but the. even if it does undergo a facelift. bbc news. and before we 90, facelift. bbc news. and before we go, this is a look at the markets. asia is weak to start the new
1:41 am
trading week. you can see the nikkei went down by 70 points at the open. the all ordinaries index is flat to higher at 57.15. the british pound is ata higher at 57.15. the british pound is at a seven—week low after the shock of the election. it is driving us equities lower. and everyone is watching out for whether the federal reserve will raise the cost of borrowing for the second time this year. as for the us markets, let us ta ke year. as for the us markets, let us take a look at it. the dowjones is on your screen. thank you for investing your time with us. i am rico hizon. sport today is up next. you are watching bbc news. i am babita sharma. the headlines. the prime minister insists she will
1:42 am
drive brexit despite her party having lost the majority in parliament. exit polls suggest france's president emmanuel macron is set for a landslide majority in his election, with some predictions saying he will get three quarters of the seats. police have released new images of the manchester arena bomber, saying they now fully understand the movements of salman abedi almost hour by hour in the weeks leading up to the attack. they believe he constructed the bomb alone and stored the components ina car. today, detectives released the last people they were holding for questioning about the attack, as our home affairs correspondent, daniel sandford, reports. it was in this white nissan micra, boughtjust two days before he left for libya, that they believe the manchester bomber left the parts to make the device. salman abedi flew out of the country on the 15th of april, but arrived back in manchester on the 18th of may. he was then caught on cctv cameras with a blue suitcase going backwards and forwards to the flats where the car was parked. detectives believe he was collecting preprepared bomb parts from the car for him to assemble a loan at this site in central manchester.
1:43 am
in a statement, police investigating the bomber said... detectives are still searching a landfill site in the hopes of finding the blue suitcase, which could contain crucial evidence. police investigating the manchester attack originally talked about a network. 20 people were detained in the uk, and a senior officer said some of the arrests were very significant, but today, the last of those arrested was released, leaving just salman abedi, who is dead, and his brother, hashim abedi, who is being held in libya. detectives say they want to speak to him, who left with his brother on the 15th of april.
1:44 am
he has been detained by the libyan ministry of interior's special deterrence force. all roads in this investigation point towards libya. it is not a country we can operate with with any due certainty. investigations will difficult for british police within libya. police say some of the man they arrested and released appear to have bought materials that can be used to make explosives, and some were in contact with salman abedi in the last few days. but detectives say at this time, they are satisfied with their explanations. daniel sandford, bbc news. and now for all of the sports news in sport tollett, and this is for today, live in the bbc sport centre. coming up on this programme: rafael nadal wins the french open
1:45 am
for a record 10th time with a straight sets win over stan wawrinka lewis hamilton wins the canadian grand prix cutting sebastian vettel‘s formula one championship lead to just 12 points. and holders india are through to the icc champions trophy semi—finals after a thumping win over south africa. hello, and welcome to the programme, where we start with the french open tennis and the news that rafael nadal has beaten 2015 champion stan wawrinka in straight sets to becomes the first man to win the same grand slam on 10 occasions in the open era. alex ewing takes up the story. no one has ever won the same grand slam 10—time city of an era. was rafa nadal about to be the first? two completed, he would have to ove rco m e two completed, he would have to overcome a former champion in stan wawrinka. the dull is commonly referred to as the king of clay, and he lived up to the repetition as he powered his way through the cassette. —— nadal. a fresh set at a


info Stream Only

Uploaded by TV Archive on