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tv   Asia Business Report  BBC News  April 4, 2018 1:30am-1:45am BST

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headquarters in california. the suspected attacker, a woman, is dead. witnesses have talked of a panicked escape from the building by employees and a huge police response. a 36—year—old man is said to be in a critical condition. russian president vladimir putin is in turkey and has announced russian funding for turkey's first nuclear power plant. many say it's just the latest sign of warming relations between the two countries. a malaysian—born woman was eliminated from reality tv show masterchef uk because her chicken wasn't crispy enough. the judges decision outraged many malaysians who pointed out that chicken rendang shouldn't be crispy at all and the chefs were wrong. our story in the uk, police in
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london say a 16—year—old boy who was wounded in a shooting on monday has died. detectives say they started a murder investigation. more from me to come but first, here's sharanjit with asia business report. the us hits back against china, proposing to slap tariffs on a range of chinese products, mainly high—tech goods. and we look at how digital disruption is threatening the livelihoods of cab drivers in new york. hello and welcome to asia business report, i'm sharanjit leyl. first to the ongoing trade tensions between the us and china. a few hours ago the trump administration published its list of roughly 1300 chinese products it wants to slap with import tariffs, thought to be
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worth about $50 billion, and china has responded saying it will take countermeasures to those taxes. earlier this week china announced it would slap tariffs on us wine, nuts, fruit and pork, worth about $3 billion, and that was in response to american duties on aluminium and steel. joining me live in the studio is debra elms, the executive director of the asian trade centre. you have just returned from washington, dc where you were speaking to some policymakers in the us behind this? i was and even last week there was a lot of confusion among the people who have to implement this policy about what the final details would look like, so the people who had to administer the policy were waiting for the announcement this morning to see what was on the list they had to deliver. there's been lots of talk obviously about whether this could bea obviously about whether this could be a full—blown trade war. you've been quoted as saying things could
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potentially get nasty and the chinese could make life very difficult for us companies doing business in china, so how bad could they make it? it could get quite complicated. this is an example, on the list this morning the us retaliated against, as an example, chinese earthmoving equipment, so they slapped a 25% tariff on that coming into the us. the chinese could do the same in reverse so the chinese could say no earthmoving equipment, caterpillar machines, moving into china. this is a huge market for caterpillar and other types of machines like that. this could get quite complicated and the chinese have not yet moved against major us exports into china, like aircraft, soya beans, cars, caterpillar tractors, et cetera, so there's lots of room for this to escalate further and get very complicated. does president trump have a point when he says the us as
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the biggest trade deficit in the history of the world with this country, china, and obviously china doesn't allow foreign investment into their country, so, you know, could there be a bit of needling here, to the chinese potentially give in on some of these demands?” think if it was clear what the us wa nted think if it was clear what the us wanted i think it would be easier for the chinese to respond, but i think the united states has shifted the goalposts here. if you read the 301ks, the us has four complaints about what the chinese are doing, forcing the... not protecting intellectual property rights, not using market methods to screen investments and spying on us cyber in the us. add onto that the us trade deficit that you mention, which isn't part of the case, but which isn't part of the case, but which current sites all the time, all of those things are complicated in and of themselves, they are all
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rolled into one, but it's not clear how china if they wanted to would address all five of those things at once. we only have a 30 day window 110w once. we only have a 30 day window now and how could they do so satisfactorily in 30 days to make trump happy? it's not clear you can stop this train from leaving the station. in five seconds, how do you see this ending? badly! 0k, we will leave it there, thank you for coming in and talking about that, deborah elms there. 0 nto elms there. 0nto tech stocks, which continue to be in the hot seat this week, the future of self driving cars, privacy protection and tough regulation are driving a sell—off in the sector. that at this chart. this index tracks tech giants such as facebook, amazon, alibaba, tracks tech giants such as facebook, amazon, aliba ba, netflix, tracks tech giants such as facebook, amazon, alibaba, netflix, google, that stands for fang, they have lost
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$400 billion in market capitalisation since mid—march. earlier i asked an expert if now was a good time to buy. in terms of facebook and google and so on i think consumer behaviour is pretty much set, the genie is out of the bottle on what people are used to and the challenge they now face is trust and regulatory action. there's an opportunity still for facebook and the internet companies to continue to make it clear to consumers that they have choices and be transparent about what information they are using and that consumer behaviour is very difficult to change, so if they can manage the regulatory risk then their business models will still be very strong. you mentioned the regulatory risk, obviously facebook‘s admission can be, a third—party company, used its users' data for other purposes, sparking a lot of concerns that other technology companies are doing likewise —— cambridge analytica. if they get slapped with a lot of
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regulation, how will it impact the companies and their profitability? it will certainly impact their profitability if they don't have as many users and if people lose trust in the system all the platforms. but internet and technology companies have provided a lot of value, technology is here to stay so i think the ability for consumers to change what they do if they can't search for things on google and they can't speak with their friends and catch up with them on facebook, or on e—commerce, amazon, it's a fundamental consumer behaviour so there will be a middle ground that will need to be found between consumers, tech companies and regulators. they've lost a lot of value in market capital in the last few months, everyone saying the faang stocks are being de—fanged. is this similar to the dot—com crash? back then there were businesses without sustainability, not making
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money, no chance of making money, certainly the listed companies we see now, even amazon in the last 11 or 12 quarters, making money, profitability. we have seen the listed stocks being generally profitable on the tech side, that's the difference between 2000 and the other differences more companies are staying private and funded privately for longer so the impact for the public markets is less than perhaps in 2000. turning to new york, where the yellow taxis are as emblematic as the manhattan skyline, and being a cab driver was one way for hundreds of thousands of immigrants to provide for their families. but with the arrival of ride hailing apps, such as uber and lift, driving a cab in the big apple has become an increasingly tough way to earn a living, as joe miller increasingly tough way to earn a living, asjoe miller reports from new york. i'm nota new york. i'm not a slave and refused to be one, those were the words posted on facebook by brooklyn born black car
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driver douglas shifter moments before he took his own life. left to sit through douglas's was asians, george shifter said his brother was forced to live in his carfor brother was forced to live in his car for days brother was forced to live in his carfor days on end and brother was forced to live in his car for days on end and was unable to pay his mounting bills —— douglas's positions. his fares were sometimes as limited as to make a day and they could be as little as $30 —— possessions. day and they could be as little as $30 -- possessions. sadly, douglas schifter is one of four drivers who have taken their lives in the last four months and while economic despair alone might not explain their actions, protesters here say it is time for city hall to step in and regulate the likes of uber and lift. in just five years, largely due to those apps, the number of four hire vehicles on the streets of new york has more than doubled and drivers say there aren't enough
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passengers to go around. uber says its growth is coming from the outer boroughs of new york, which it says are underserved by mass transit and ignored by yellow cabs. but over at the taxi workers alliance, many drivers report they are earning less than the minimum wage and they know who to blame. in 2016, uberand lift who to blame. in 2016, uber and lift combined to spend more in the united. ., in 2016, uber and lift combined to spend more in the united states l in 2016, uber and lift combined to spend more in the united states on in gf ~ and through social media to get that 25:52; base to be calm through social media to get that gnaw-fists?” base to be calm your = george says the erosion of voice. george says the erosion of professional drivers' livelihoods brought tragedy to the schifter family, but he said his brother's
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death was a warning sign of a crisis that extends far beyond the streets of new york city. joe miller, bbc news, new york. let's ta ke news, new york. let's take a look at the markets before we go because we are seeing asian markets that are open at the moment edging up after the losses they were making just yesterday. of course we saw a slight recovery on wall street after the previous day's sell—off so the nikkei up slightly and we are dealing with the weaker yen after the us dollar recovered boosting the export reliant stocks, but the australian market flat at the moment. that's it for this edition of asia business report, thanks for watching. you're watching bbc news. a reminder of the headlines this hour: at least three people have been wounded, one critically, after a woman opened fire at the headquarters of youtube in california. she's then believed to have killed herself. a chinese couple have been reunited
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with their missing daughter after a 24 year search under the glare of state media. new medical centres to speed up the diagnosis of cancer are being introduced across england to try to spot the disease at an earlier stage. the strategy is to avoid the situation where patients are referred for separate tests for different forms of the illness when they have non—specific symptoms. it helped me focus more on what actually my symptoms were. patients with unexplained symptoms can get sent around different places for tests if their doctors think they might have cancer, but now a one—stop shop trial aims to bring everything together on single sites. the aim being to get the diagnosis or the all clear within 28 days. the advantages are that the patients can have all the tests that need doing in one place rather than having to go back and forth to different departments.
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and the quicker we can get the diagnosis of cancer for a patient and start the treatment, it means better outcomes for the patients. but survival rates in britain for all cancers are lagging behind some other leading economies. sweden, germany and france are among those with the highest rates, ahead of england, wales and scotland. bowel cancer is the second biggest cancer killer. lord lansley, the former conservative health secretary who has bowel cancer, says a screening scheme should have been offered across england by 2016 but it still only available in half the country. he blames lack of investment in staff for the programme called scope screening, which uses a camera to examine the patient‘s lower bowel. the aim is early detection of any abnormalities. this hospital, saint mark's in north west london, was one of the first in the country to start offering the bowel screening programme to 55—year—olds. it's now available to
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every eligible patient in the local community. but in other parts of england, the service is a lot more patchy. staff shortages affecting nhs cancer care have been highlighted in the bbc‘s hospital series, with one surgeon in nottingham revealing his frustration. the job that i want to can't do in the nhs, because the pressure we're under all the time. there's just nowhere to take a breath. cancer survival rates are improving, but with people living longer, the caseload is increasing. the challenge for the nhs is to keep up with that. the t have |ge for the nhs the t have |ge for of 3 nhs. on at " as; that. today.
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iam i am tulsen tollett and this is sport today, live on the bbc sports centre. coming up, cristiano ronaldo scores a wonderful bicycle kick goal for rearmament. sergio garcia has —— the peregrine ‘s title defence of the peregrine ‘s title defence of the masters. and going for gold at the masters. and going for gold at the commonwealth games but how releva nt the commonwealth games but how relevant is the event on the gold coast for the biggest sporting landscape? welcome to the programme. we start with footballing news. rearmament read have one foot in the semifinals of the champions league after a 3— win overjuventus. that saw one of the goals of the season from real m. they are looking to make a third consecutive title. conor mcnamara was in turin with the
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former scotland international pat
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