tv Asia Business Report BBC News October 3, 2018 1:30am-1:46am BST
our top story: a desperate scramble for food and aid after indonesia's earthquake. the un says about 200,000 people urgently need help. more than four days after the earthquake and tsunami struck, authorities and aid workers are struggling to coordinate their response. more survivors have been pulled from the rubble, as the death toll increased to more than 1,300 people. in one place, more than 100 people are reported to have been buried alive when a river of mud flowed through their village. and in other news this hour: the british prime minister, theresa may, has told the bbc she is angry with borisjohnson after the former foreign secretary launched another attack on her brexit plan. in what has been seen as a direct challenge, he called the plan a cheat, dangerous, and unstable. that's all. stay with bbc world news. thresa may has insisted that the uk would have full control of immigration, for the first time in decades, after brexit.
she has promised to reduce the number of unskilled workers coming to the uk, and treat eu citizens the same as those from other parts of the world. now on bbc news, live to singapore for asia business report. 0il oil prices are at four year high as on supply worries when us sanctions in iran take effect in november. and in an industry dominated by men, what will it take to get cars designed forfemale what will it take to get cars designed for female drivers? good morning, asia. hello, world. it is a wednesday. glad you could join us for another exciting addition of asia business report. i'm rico hizon. we start off with oil and prices are hovering nearfour year highs due to geopolitical tensions. the recent rally was sparked by
fears of reduced supply once us sanctions against iran kick in next month. a recent survey found that in september opec members pumped over 40 september opec members pumped over a0 million barrels per day and that is the highest level this year. and thatis is the highest level this year. and that is 90,000 barrels per day more from august production levels. us president donald trump to do twitter injuly asking for president donald trump to do twitter in july asking for opec president donald trump to do twitter injuly asking for opec to reduce prices. does the president have any sway in the energy markets? here is the view from energy analystjohn driscoll. this last few years we are dealing with a new wild card. we used to have wild cards like opec, libya, nigeria, factors which are so—called black swans, but trump's level of interventions in markets is unprecedented. he is not content to call up unprecedented. he is not content to callup and unprecedented. he is not content to call up and interrupted opec meeting, but it is understandable
political behaviour ahead of mid—year elections. political behaviour ahead of mid-year elections. of course he has saudi arabians and russians increasing output that they are just making up from the shortfall from the venezuelans, the libyans and the iranians. exactly, and opec has done an impressive job of over complying with their quotas, their compliance rate has been over 100% and they are tapering it back to about 100% but what the saudis are doing is nominally making up for lost venezuelan, iranian, libyan output, but they are really balancing the market to the level of demand that they perceived out there. they are not in any hurry, nor do they have any desire to. so they want prices at current levels, brent crude at 8a plus, and in, and, rising above $90 —— in oman. plus, and in, and, rising above $90 -- in oman. well, that was an isolated event in 26 september.
allegedly a short squeeze. but the dme oman contract is physically deliverable. this is a key barometer of where physical crude is. is this an indication that oil prices will surge to 100 us dollars per barrel before the end of the year? this is an if— then kind of scenario, but you have to consider it as being more probable. a few geopolitical glitches and this thing is off to the races and we could see 100. well, car industry bosses are also very worried about oil prices and they are gathered in paris for the motor show. it is generally a male dominated industry, and then you have the chief executive at french car manufacturer citroen. she has been named the most influential woman in the motor industry for a second time. our business correspondent caught up with her and
askedif correspondent caught up with her and asked if the industry is focusing too much on men than they create new vehicles. it is an exciting environment, but looking at products, they are probably designed bya products, they are probably designed by a male designer with a male in mind. are you in your position have any influence over the kind of products which are built? lennon we have been trying to change that process , have been trying to change that process, and maybe it is my influence and maybe it is not. we do lots of tests with women. in some vehicles they are 50% or by women. smaller cars are bought by women 50%. we have female forums, individuals coming in from externally and internally, and when we have a first idea of a new model they get in the vehicle and they look at it. and they look at it from their direction. i have to be honest. i probably look at those vehicles that i have got in the future in a different way than my colleagues. they get into a car and they will test drive its engine. i get in and i love driving and i like a nice engine, obviously. but what i look for is where i will put my handbag, where are the kids going to
be? and for me, the whole storage and the interior, do i feel safe, is far more important. that's why we need more women in this industry. because lets be honest, we spend a lot of time in our vehicles, and we have ourfamilies, lot of time in our vehicles, and we have our families, and lot of time in our vehicles, and we have ourfamilies, and why lot of time in our vehicles, and we have our families, and why wouldn't we include women in that decision? and that was citroen lost linda jackson speaking to the bbc‘s theo leggatt. it is not often we hear from farmers in rural california who have benefited from this latest wave of tariffs imposed on $200 billion worth of chinese goods. we spoke to a third—generation farmer from california. his family operates the biggest garlic is this in california andi biggest garlic is this in california and i spoke to him earlier and asked how is a trade war impact in the company's how is a trade war impact in the compa ny‘s bottom line? how is a trade war impact in the company's bottom line? so this went into force last monday, and since that time we have seen a five to 10% increase in our sales, so it is an exciting time in gilroy, california. there is a huge difference between
chinese garlic and american garlic. the first 10% has been implemented, that will be increased to 25% in the new year. if you add all that up there is still a price difference between american and chinese garlic. right. we are hoping that this tariff is just the starting point. a 2596 tariff is just the starting point. a 25% tariff as of january one will go some way to level the playing field. all right, but in your products, before the tariffs, did you use chinese garlic? so all christopher ranch products sourced from american grown garlic. the only chinese garlic were used is from a third—party distributor and never packed under the christopher ranch name. of course, if you import chinese garlic and makes it into your products, this would bring down your products, this would bring down your costs. so we do not mix chinese garlic into our products. we sell from a third—party distributor. and it is never part of our product
line. so how have your fellow farmers and producers in the region been viewing these tariffs? there are some mixed emotions. for garlic farmers and other farmers who sell within the united states, there can be benefits. but for those who rely on exports, especially to china, they will feel a bit of pain right 110w. they will feel a bit of pain right now. it is mixed emotions right now. and you mentioned earlier that at least this 25% increase in tariffs on chinese garlic will help level the playing field. what other measures would you want from the trump administration to further narrow the gap in prices? yes, so in 199a we first enacted tariffs on chinese garlic. the problem with thatis chinese garlic. the problem with that is those tariffs are assessed and build only after chinese exporters are proved to be illegally dumping garlic. so we would look to have enforcement of existing law, enforcement from homeland security and from customs. the nice thing about the new tariffs is they are all signed up front so chinese exporters can no longer use duty to
get around these tariffs. that was ken christopher, a garlic farmer from gilroy, california. we have seen recently how artificial intelligence is making inroads into the medical industry as well as several hospitality sectors, and the global company liquidnet is looking to use ai global company liquidnet is looking to use al to create the same impact in the investment market. i spoke to the founder and chief executive of liquidnet and asked him which histories could benefit from technology leveraging. technology is a great enabler in this world today, so you see that technology is really destructive, and it has made more efficient the service and hospitality and shopping industries. but as far as liquidnet goes, we have a real problem in terms of what you know, where all the people like us you know, where all the people like us put our money, our pension funds, our investments, our retirement savings. it is across the board. our focus is really helping those asset managers perform better, leveraging
this technology. on the flipside, we are also having a lot of geopolitical and trade problems, seth, particularly the us — china trade dispute. how can technology navigate this fallout? you know, there is never a shortage of large—scale events that affect in global politics or macroeconomic issues. and rather than wait until these things happen to the portfolios, there are so many alternate data sets today, that if you can actually leveraged machine learning for them you can better predict will have early warning signals will better understand how are no brexit vote would affect holdings in your portfolio, or what parts of your portfolio will be affected by these new tariffs that trump wants to impose. and these should be looked at as opportunities, not as opposed to... 0k, opportunities, not as opposed to... ok, what is going to happen to my
portfolio. but using technology to our advantage is often a good thing, seth, but could we end up being too reliant on technology and artificial intelligence? it really depends on how you implemented. we believe that artificial intelligence plus a human being creates a much better outcome. so we look at artificial intelligence as intelligence augmentation. but what if artificial intelligence get the data wrong? well, that's not the technology's fault, though, right? ithink it well, that's not the technology's fault, though, right? i think it is incumbent upon machine learning to actually continue to mine that data, to get smarter. it is not going to be perfect, but that is where the human beings that is judgement comes m, human beings that is judgement comes in, asa human beings that is judgement comes in, as a check on the balance. thank you so much for investing your time with us. i'm rico hizon. sport today is coming up next. this is bbc news. the top stories this hour: the united nations says about 200,000 people in indonesia need urgent help following the devastating earthquake and tsunami.
more survivors have been pulled from the rubble as the death toll rises to more than 1,300. matt hampson was 20 years old, on the verge of a glittering international rugby career, when a scrum collapsed on him and left him paralysed below the neck. but since that day, he has had one ambition — to build a place where young people with catastrophic sporting injuries can reshape their lives. joe wilson reports. this is matt hampson. this is his place. his message is written on the doorstep. it's nothing to do with the level of injury that you are. it's how you move on with your life, and how you find purpose. when matt hampson played rugby, he was exceptional, already picked for england's under 21 ‘s when, in a training session, in a scrum, he
broke his neck. what then? second rows, broke his neck. what then? second rows , you broke his neck. what then? second rows, you need to lift your heads up a little bit. i first met matt when he started coaching rugby, but he had a bigger idea. and here it is. ina had a bigger idea. and here it is. in a windswept field in leicestershire, the get busy living centre. from the outside you can see the splitter the two levels. the ground floor is being used for a party today but it is wet young people with serious injuries can come with their families to eat, drink and enjoy themselves. the top floor is the hard physical work. there is very specialist gym equipment there, it is already being used. it is about tackling the two elements to recovery, and it is all matt hampson's plan. gives me something to get up for every day, andi something to get up for every day, and i feel so proud something to get up for every day, and ifeel so proud of everything that we've achieved, and ijust love pushing the boundaries and trying to change the world a little bit for disabled people, and people with serious injuries, through sport, and just show them, hopefully show them the way. well, there were plenty of
m essa g es of the way. well, there were plenty of messages of support for matt hampson today. you have achieved almost the impossible. what you've done in the la st impossible. what you've done in the last however many months or years to fund raise for this building has been absolutely extraordinary. mike tindall has been one of this project's biggest supporters. matt has been through dark days, at christmas when we almost lost him, and we would have seen has come to reality. so he's always got a fight, every time. whenever he is back and healthy, all he wants to do is get out there, go and see people. rugby has a deep responsibility. other sports, too, where injuries are too frequent to be ignored. it took £1 million to build the centre, years of fundraising, million to build the centre, years offundraising, and million to build the centre, years of fundraising, and matt hampson is busy trying to find a way to build more of them. now on bbc news, sport today. hello, i'm tulsen tollett
and this is sport today, live from the bbc sport centre. coming up on this programme: russian roulette. european champions real madrid fall to a surprise champions league defeat by cska moscow. iran's persepolis have taken a 1—0 lead after the first leg of their asian champions league semi—final with al sadd. and jelena ostapenko fails to win a game at the china open, as she's crushed by home favourite wang qiang. hello and welcome to the programme, where we start with the footballing news that holders real madrid fell to a surprise champions league defeat by cska moscow in russia. it means the hosts move top of group g, while real,