tv Asia Business Report BBC News January 17, 2019 1:30am-1:45am GMT
just twenty—four hours after its brexit deal was rejected. theresa may has now begun talks with the leaders of other parties — to try to find a new deal which could win a majority in the house of commons. the opposition leaderjeremy corbyn has not accepted her invitation to downing street — he wants a no—deal brexit to be ruled out. four members of the us military in syria have been killed in an attack carried out by so—called islamic state. and this video is trending online. amid all of the brexit shenanigans — this animal was spotted brazenly wandering up to the prime minister's front door in downing street. it's an urban fox — they're a big problem in the capital but they've not so far tried to take over number ten. that's all. stay with bbc news. and the top story in the uk: hunger strike after the iranian government granted her access to specialist medical treatment. a touch of a nuclear options. the
japanese conglomerate today is expected to decide the fate of its $35 million uk reactor project. brexit, what next? as theresa may survives another confidence vote after yesterday ‘s crushing defeat what does the future hold for the uk economy? good morning asia, hello world. glad you could join us for the latest exciting addition of asia business report. we start with he tai chi and the conglomerate is expected to decide the fate of its
nuclear power facility —— —— hitachi. it is expected to hold a board meeting later this thursday. media reports emerged last week that the japanese firm may suspend the project. hitachi told the bbc that no decision has been made but investors are wondering if it has anything to do with the uk's decision to leave the eu. the ceo was against brexit before the referendum. he tai chi has been investing in the uk infrastructure and nuclear industry because the uk as part of the eu. so i oppose brexit. that was the chief executive of hitachi speaking to the bbc in 2016. the company must also make a decision before february one when it is scheduled to report its earnings. i was told by energy expert why he thinks they will cancel the project.
if they keep the project there will be more deficit. it is time to cancel. does brexit have anything to do with this decision to scrap the project? i'm not sure. it would be but it is also if the uk stays in the eu it is also trouble with eu competition rules. so it is a double—edged sword. so if hitachi recover finances if they cancel the project? that is difficult in the short term, it is almost impossible to recover. but they assume they will recover the loss from the japanese domestic nuclear business. and was japanese domestic nuclear business. and - was my conversation earlier and that was my conversation earlier with an energy expert moving on now
to what the business news making headlines, theresa may has seen off a challenge for government how i. she has now invited leaders of all parties to discuss the way ahead for britain to exit from the eu. i got someone's view on what is next for the british economy, one of the ten biggest in the world. it is a foggy crystal ball. the deal in parliament collapsed so robustly and yet she survived a no—confidence vote. there is talk today of invoking the clause that would demand that brexit occur in the next few months and instead extending the grace period. all options are on the table. indeed.
and all options are on the table for many asian businesses with exposure in the uk and in the eu. let's be honest. what we see from the uk itself is that firms are hedging bets. british firms themselves are saying they will shift certain operations to be within the eurozone area for financial reasons and trading. and foreign investors will do that as well. the right areas where there will be a lying opportunity, but clearly, just as your previous package about the nuclear project shows, there will be a lot of caution. people will mention the market for its own size and limiting activity to the extent that the uk matters versus no longer potentially using it as the access point to the entire european union. so big decisions must be- and point to the entire european union. so big i multinational be- and point to the entire european union. so big i multinational companies and point to the entire european union.
so big i multinational companies here point to the entire european union. s( asia multinational companies here point to the entire european union. s( asia ml saying nal companies here point to the entire european union. s( asia ml saying nal con deales here more in the that m cost to the border, that will raise cost to consumers. the border, that will raise cost to consumers. we the border, that will raise cost to consumers. we have the border, that will raise cost to consumers. we have already british consumers. we have already seen that starting to happen. it could i that the added cost of 1's could be that the added cost of 1's good i to could be that the added cost of 1's good 5—3—3 to come in indirectly 77 .e.,-r, will go 77 .e.,-r, 1 will go up - and capital that will go up further. and capital expenditure? that will go up further. and capital and to that happened all along. in terms of has happened all along. in terms of the returns on - whether it is sovereign realise more and more that asia the growth market. they have is the growth market. they have been doing less 5 less incrementally in is the growth market. they have been doing les and 5 less incrementally in is the growth market. they have been doing les and are ;s incrementally in is the growth market. they have been doing les and are focusing entally in is the growth market. they have been doing les and are focusing more y in is the growth market. they have been doing les and are focusing more on| business without - in
prim; us ‘news. us is ig—r2.,i:,,,,jf’ii ' against the telecom giant as the us pressures beijing. apple has missed its revenue giant as the us pressures beijing. apple has missed its quarter. giant as the us pressures beijing. app —— |as missed its quarter. giant as the us pressures beijing. app —— |as mi —— d its quarter. giant as the us pressures beijing. app —— |as mi —— d its quari to that the was made agencies, that the closure was made to employees last month. agencies, that the closure was made to employees la has onth. the government has promised new measures to help after measures to help manufacturers after first * in measures to help manufacturers after firstg in demand for 20 thefjrstfallmdemandfolza there are worries about how lg trade war with the us are taking the trade war with the us are taking their toll on the economy. carmakers
are at key industry that the government would like to support. it is the president ‘s car. does that help will not help? your customers know that? if you sell cadillacs in china it helps that donald trump is driven around in one. this meant customers like that. they like the procedure and quality. prices are good but last you was a bad yearfor his prices are good but last you was a bad year for his dealership. the more we sell, the more we lose. the family business had 11 dealerships like this. in 2018 they closed five. nationally it has been a difficult yearfor nationally it has been a difficult year for auto. just nationally it has been a difficult yearfor auto. just over nationally it has been a difficult year for auto. just over 22 million new cars year for auto. just over 22 million new ca rs were year for auto. just over 22 million new cars were sold in china last year. but that is a mere 6% drop on the previous year. the first fall in two decades. translation: in 2018
the government cancelled the tax subsidy on car purchases which was a shock to us. last year, china's automobile industry started to enter automobile industry started to enter a slowing down phase. in a tiny hair salon in the heart of shanghai, confident going into 2019 is nothing to smile about it it the government clampdown on credit last year, retail swales of slowed to a pace seen for -- —— seen for this —— seen for this is —— seen for this is at- —— seen for this is at the i —— 5555155155 ti5i5 i5 55 555 5555555 5555155155 t5i5 i5 55 555 5555555 of model. i matter how you consumption model. no matter how you judge it, demand for haircuts, new cars, premium and clothing... 2019 is not looking good. the other problem for china is people worry about things like mounting healthcare about things like mounting healthca re costs. about things like mounting healthcare costs. and traditionally they are savers. translation:
traditional chinese should pay by carefully saving. outside the salon, a scene of china's changing economy. demand may have tanked but there are still many cars on the street. next door, a boutique shop for high—end buyers. the slowdown is here. the chinese consumers know it and so do the leaders. the new chief executive of goldman sachs has apologised to malaysia for the role and ex— partner played in the role and ex— partner played in the corruption also 1555’ ' ' ’ " ’ the role and ex— partner played in the corruption also ehis 25’ ' ' ’ the role and ex— partner played in the corruption also his company ’ " j been deceived about - of deal| deceived about - of of the state —— the state development fund, from the state development fund, 1mdb. samsung shares havejumped once again. they only 25% stake in
the company that created baby shark. they plan to capitalise on the success by expanding child oriented entertainment business. a quick look now at the market. asia is in positive territory across the board. japanese market is up, the hong kong market and australian market will gain as well. strong earnings of the bank of america and goldman sachs also caused new highs in the us. this is bbc news — the top stories this hour: the british prime has narrowly survived a vote of no confidence in her government. theresa may's begun consulting other party leaders over a new brexit plan. four members of the us military
presence in syria have been killed in an attack carried out by so—called islamic state. a jury at the old bailey has been told that the pilot, whose plane crashed at the shoreham airshow in 2015, killing 11 people, had a "cavalier" attitude to safety, and played "fast and loose" with the rules. andrew hill lost control of the vintage fighter aircraft, which came down exploding in a fireball on the a27 dual carriageway. he denies eleven counts of manslaughter by gross negligence. here's our home affairs correspondent tom symonds. it happened on a beautiful summer's day. a high—performance vintage jet fighter dropping from clear skies onto a crowded road. some of the 11 men who died were in passing cars on their way tojobs, football matches, one a chauffeur about to pick up a bride to be. others had stopped to enjoy the air display.
the court was told the pilot, andrew hill, was experienced but had 5 5 z 7” 1” tjlh§ the prosecutor, thomas kark qc, told the jury there was nothing wrong with the plane but, using a model to demonstrate, he said andrew hill's flying that day was seriously negligent. he was approaching shoreham airport in the hawker hunterjet, planning to perform a loop. ahead was a busy a road. experts estimate the jet came in at around 185 feet above the ground and began a sharp climb. it reached the top of the loop at approximately 2800 feet, the jury heard, around 1000 feet too low. but andrew hill did not abort the manoeuvre. as he descended, he was too low and too slow to pull up. the plane came down fast, hitting the busy a27 in a fireball. people had gathered all around this area
to unofficially watch the airshow. the plane ploughed along the road, ending up in scrubland over there. mr hill survived but has no memory of what happened. he is expected to say he may have suffered loss of blood from his brain due to the extreme forces of the aerobatics. he denies all the charges. tom symonds, bbc news, at the old bailey. that's it from me, keep up—to—date on twitter. now all the sport news with sport today. see you soon. hello, i'm chetan pathak and this is sport today, live from the bbc sport centre. coming up on the programme: roger federer makes it into round three of the australian open for the 20th year in a row.
but we ‘ the as they beat china to finish top of the group. and, as the nba heads across the atlantic, we will look ahead to the new york knicks taking thank you forjoining us. 55555 54555555; 55555 5151551555 the players hoping to make it through to the third round on thursday. but they all face tricky opponents. our reporter gigi salmond is in melbourne for us,