tv Asia Business Report BBC News July 25, 2019 1:30am-1:46am BST
i'm ben bland with bbc world news. our top story: boris johnson has become britain's new prime minister, in his first statement, he said the uk would be leaving the eu, no ifs or buts. he's also begun a radical overhaul of government topjobs. more than half the ministers under theresa may have either resigned or been sacked. there are fresh concerns over north korea — after two unidentified projectiles were fired into the sea towards japan, according to reports from south korea. it comes after kim jong—un was pictured alongside a newly—built submarine. and this story is getting a lot of attention on bbc.com: facebook says it will pay five billion dollars to settle an investigation into its privacy practices. federal regulators said that certain facebook policies violated rules against deceptive practices.
and the other major story in the uk: the summer heatwave continues to take its toll on people across the uk with temperatures reaching the mid 30s yesterday — and it's due to get even hotter during the day today. now on bbc news live to singapore for asia business report brace for impact — nissan motors expects to announce 10,000 job losses as its profit slump by 20%. the world's biggest plane maker, boeing, says it is $2.9 billion in the red last quarter. good morning asia, hello world, it is thursday. glad you could join us for another action packed addition. naesen workers around the world are bracing
foran workers around the world are bracing for an announcement later today of thousands of job cuts. for an announcement later today of thousands ofjob cuts. according to media reports, japan's second—biggest car manufacturer will say it is laying off more than 10,000 workers amidst weakening sales. it comes after the firm yesterday warned its first quarter profit, from april to june, yesterday warned its first quarter profit, from april tojune, tumbled by around 90%. shares in tesla have also slumped after disappointing result. i asked peter also slumped after disappointing result. iasked peter mcguire also slumped after disappointing result. i asked peter mcguire what happened. they had a low margin and ta ke happened. they had a low margin and take markets by storm strategy, and it just hasn't worked. take markets by storm strategy, and itjust hasn't worked. there has been very poor profit growth and paul resale value. sales numbers slumping in the us and europe, and the biggest market so far is china. absolutely. it is a poor alliance.
they have to go into recovery phase to try to rebuild that relationship with renault in europe, and you are now looking at the chinese market is trying to be a saviour. it will be a tough time ahead. what is the strategy of the new ceo of nissan? cut the and rebuild as far as far as brand awareness and brand integrity. that seems to be the real board initiative pushing forward. take out the old and push in a new strategy, and many companies have to go through that turnaround. hopefully we will see that turnaround in the next financial year. what about tesla and ford? are people buying fewer ca rs ? tesla and ford? are people buying fewer cars? that does seem to be the major factor. fewer cars? that does seem to be the majorfactor. some of fewer cars? that does seem to be the major factor. some of these cars are at record lows as far as margin. ford has produced good numbers going forward , ford has produced good numbers going forward, if we examine them from their pickup department. pickup trucks are big, high margin
vehicles. tesla are down about 38%, so vehicles. tesla are down about 38%, so they are under the whip. vehicles. tesla are down about 38%, so they are under the whipm vehicles. tesla are down about 38%, so they are under the whip. it looks like all of these carmakers are seeing slowdowns in the western markets and they are just making money in china and the rest of asia. that's right, and this is where we are seeing the global expansion. these are all factors that are washing over the market. cars are big sale value items, and you can see where the world is going as far asa see where the world is going as far as a slowdown in all phases. boeing has recorded a $2.9 billion loss, the biggest on its record, as the crisis drives on. it says it could be forced to temporarily hold production of the 737 max if its grounding continues much longer. for the first time what we have heard is
that suggestion that production of the 737 max could grind to a halt altogether or be temporarily suspended. this is something that could happen if there was a substantial change to the current estimate of october as a date when these could be back in the air. they have had to cut production rates because they can't provide the aircraft to purchasers without the sign off. they have reported a record—breaking loss of $3 billion for the april— june period. the other big issue is the $5 billion charge they told us about last week for compensating airlines that can't use their aircraft at the moment. all the while, boeing's reputation continues to suffer every day that the crisis continues. so, as the boss of boeing also said, this is
very much a deep flaming moment for the company. a privacy probe with facebook has confirmed that the regulator is now investigating it for potential violating is of anti—trust. it announced better than expected quarterly numbers. i asked oui’ expected quarterly numbers. i asked our analyst whether regulatory issues would impact facebook‘s bottomline. 16.9 billion for the quarter, phenomenal. quarter on quarter, phenomenal. quarter on quarter, daily activity is fairly flat, especially for asia—pacific and the rest of the world. asia—pacific12%, rest of the world 8%. interesting times indeed, and i think the challenge at the moment is that 72% of revenue is still from the usa, canada and europe. they will now be thinking about how we can increase revenue. warning the
market about being investigated for breaking anti—trust laws. does this mean that they are expecting that they could be impacted with their earnings going forward? possibly, but these aren't just earnings going forward? possibly, but these aren'tjust impacting facebook. it is happening with apple and amazon and a number of other tech giants. so, this will probably just be an ongoing book and i don't ever see it ending. facebook needs to compartmentalise that and continue with their business, appealing to advertisers and to the daily, at give users. this could be one red flag for the social media giant going forward. what about getting into the cryptocurrency realm? how does this play into their future earnings, or could it hurt them, with so many critics, such as president trump and the trump administration? what a phenomenal move by facebook. i think there will a lwa ys move by facebook. i think there will always be critics in whatever they do. from what we have been hearing
and reading, it is really targeted towards the south asian markets, which is india. the cryptocurrency could be tagged. they have millions of users of whatsapp in india. you are talking about india, but of course there were talks earlier this week that india is planning to ban private cryptocurrencies, and they are looking at setting up their own? this could impact libra? it could impact libra, so they will have to wait and see what happens there. also, their bank, that is worth 11.5 billion, and who doesn't have whatsapp in this region? the tokyo 2020 olympics are just a year away, and many are asking what will happen to the buildings specially
constructed for the event. brazil has put its sports arenas to a novel use. 0ver has put its sports arenas to a novel use. over the next few days, rio will be hosting the world's biggest gaming expo, with ease sports championships. estimates say that one in three brazilians now is games and watch them online. sponsors and advertisers are taking notice. 0ur public are not watching tv, they are not in magazines or newspaper, but they spend hours and hours watching a championship, or they
even might play when they are streaming. they watch for hours and hours and thousands of people are watching, so if you are a brand or you are looking for sponsored sports you are looking for sponsored sports you can find the public. right now it is cheaper to do advertising in sports, and the results are huge. i still think we have lots of barriers to embrace, but i think we are getting there, because big companies are coming in, pharmaceutical staff, drinks and food and staff. they are coming to
sponsor, food and staff. they are coming to sponsor, to develop the market, so i think we're going to be in a really goodin think we're going to be in a really good in like five years. and that is the growing popularity of a gaming in south america, particularly brazil. let's have a quick look at the markets and how they are faring in mid—morning trade. all in positive territory at the moment. this is after we saw record highs once again for the s&p 500 and nasdaq. led by major technology companies on wall street. thank you for investing your time with us, sport today is coming up next. this is bbc news the top stories this hour. a new resident in downing street — borisjohnson begins his term as prime minister with a major overhaul of senior government positions. fresh concerns over north korea — two projectiles are fired into the sea towards japan as kimjong—un's pictured alongside
a newly—built submarine. whatever else borisjohnson wants to achieve as prime minister he has to sort out brexit first. and that means resolving the thorny issue of the backstop — the guarantee to avoid a hard border between northern ireland and the irish republic. emma vardy reports from newry on the irish border. we are being invited on board for a journey pamela knows well. herfamily‘s haulage firm make thousands of deliveries across the irish border every year. but this one ireland is two different countries, and after brexit it means we could have two different sets of rules. but it is the biggest problem for borisjohnson when it comes to agreeing with the eu on how
to avoid checks on goods here. haulage and freight is the lifeblood of the irish industry and this just—in—time delivery servers we have come to expect, it may not be any more. borisjohnson is in the driving seat, leaving behind the border theresa may agreed to. convinced he can persuade the eu to re—negotiate. but in dublin tonight, the irish prime minister said that the eu would not give into boris johnson's demands. the border looks very different now. borisjohnson believes we can avoid checks by doing a deal with the eu, ripping up the so—called backstop which would have kept northern ireland shackled to eu rules. many brexiteers want to see technology used, but many have rejected that. a new prime minister,
but old dilemmas remain, and huge implications ahead for livelihoods on both sides of this border. plenty more details on today's politics on the website. mike embley is here injust over 15 minutes politics on the website. mike embley is here in just over 15 minutes with the latest headlines and more news. you can find me on social media, just search for my name. now on bbc news, sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: tim murtagh picks up five wickets as ireland dismiss england for 85 on the opening day of their one off test at lords.
matteo trentin wins stage 17 of the tour de france butjulian alaphilippe maintains the overall race lead. and top seed dominic thiem moves through to the quarter—finals of the hamburg 0pen. hello and welcome to the programme where we start with cricket — and ireland had the better of the opening day in their one—off, four—day day test match against england at lord's. the home side batted first after winning the toss — and suffered the embarrassment of being bowled out before lunch forjust 85 — by an irish side playing in only their third ever test match. on a day when 20 wickets fell, the tourists made 207 in reply — leaving england trailing by 122 runs.
IN COLLECTIONSBBC News Television Archive Television Archive News Search Service
Uploaded by TV Archive on