tv Asia Business Report BBC News August 23, 2019 1:30am-1:46am BST
the resources to fight the record number of wildfires raging through the amazon rainforest. global leaders, including the un secretary—general and the french president, have expressed alarm about the fires. conservationists have blamed the brazilian government for what's happening, saying it's encouraged the clearing of land. president macron of france has told his british counterpart there can be no major changes to the brexit agreement but that talks should continue. borisjohnson went to paris to get support for a new deal. and this video is trending on bbc.com: apple has advised owners of its new credit card to keep it away from leather and denim as it can damage them. the card is made of titanium to make it stand out. but apparently it's rather delicate. stay with bbc news.
you can find background to all our main stories on the bbc news website. now live to singapore for asia business report. central bankers and jackson hole — by the world is watching a gathering at this wyoming mountain resort. and japan's elderly pets. our change in the law has led to a boom in animal ca re the law has led to a boom in animal care industry in the country. hello, and welcome. we start with the global economy because the chairman of the us federal reserve might signal later how american central bank will respond to
recession fears. jerome powell is due to speak at a gathering of central bank chiefs from around the world in wyoming. the meeting is getting extra attention this year because of the current economic picture in the us and around the world. right now, it is of the american consumer supporting the us economy. the spending accounts for two—thirds of all economic activity yet with the trade war with china raging, the fear is it may falter. yet with the trade war with china raging, the fear is it may falterli feel hopeful. i think raging, the fear is it may falter.” feel hopeful. i think they're going strong. it is getting shaky. scary. all eyes will be on this man, jerome powell, chairman of the us federal reserve. when you take centre stage can he come anxious financial markets? they want him to promise more cuts. they want to hear the fed is going to do as much as it can to
provide a buffer against the trade foran provide a buffer against the trade for an awakening global outlook. it is possible thatjerome powell may not deliver on that promise. is possible thatjerome powell may not deliver on that promisem is possible thatjerome powell may not deliver on that promise. it is not deliver on that promise. it is not just wall street screaming for more stimulus. the president treated... even ifjerome powell hint that he will cut interest rates, be enough to satisfyjittery financial markets and a president eyeing an election. most observers think not putting the world central banker in an odd situation. in asia, central banks in india, thailand, the philippines, new zealand, they have all cut interest rates this month and yesterday indonesia lowered the cost for borrowing in the second time in two months. is policy action enough to avoid global
slowdown? it probably is not enough in the sense that we have reached some of the limits of monetary policy and if you look at the overall low level, in most of the world ‘s big economies, monetary policy has reached a level where it is not going to do enough stimulus and the need to be other factors. having said that, central bankers are not going to be in a position where it looks like they are not stimulating the economy. we see that from china, thailand, economic stimulus measures on top of rate cuts to try to reinflate the economy but this global slowdown is posing a massive risk. some of the difficulties associated with this, if we look at some of the lessons we should take out of 2007— 2009, 2010 2012, we're not going to get a lot of inflation of these moves. if the
move is to provide some stimulus to equity markets the evidence there is a little bit better. of course, we have been hearing a lot about the inverted yield. it has jumped above a benchmark ten year note. we keep hearing this every us recession but is it inevitable? it is not inevitable right things we need to remember. yes, it has been a pretty good recession indicator by the other aspect, particularly with the us, with this global growth of any return in bond markets, us treasury provide a relatively good yield so pa rt provide a relatively good yield so part of this is still for investors to get return and along with the bond markets are provided. we should be worried about it though because
it can lead to potentially dangerous behaviour. as the bankers meet in the us, leaders of the g7 nations will in france. borisjohnson is trying to renegotiate the terms of leaving the eu. what is on the agenda? not surprisingly, brexit will likely dominate the talks and the so—called backstop for the irish border to prevent the need for customs checks at the frontier of the uk leaves the european union without a traitor. boris johnson wa nts without a traitor. boris johnson wants the eu to exit. angler michael has given him 30 days to come up with a weight away to break the impasse. —— and columbo call.
meanwhile mrjohnson is key to strengthen ties with the us. —— merkel. but the big question is how does this fit in with president trump america first policy? a tough crowd as borisjohnson attends the g7. let's take a look at other news 110w g7. let's take a look at other news now and making headlines, u—tube says it has disabled 210 channels that showed signs of a co—ordinated influence operation around the hong kong protest. —— youtube. the us aviation regulator has invited boeing 737 max pilots to take part in simulator tests. comes as the
plane maker try to rectify the aircraft after two fatal crashes. the maker of peppa pig cartoons is being brought behind the company that makes monopoly. it is a greed to pay $4 billion for the studio entertainment one. pet owners around the world spent huge amount of money on theirfur the world spent huge amount of money on their fur babies and they are forking out more than $270 billion by 2025. in japan, forking out more than $270 billion by 2025. injapan, a change in animal welfare laws has led to a double bonus, a boom for the animal ca re double bonus, a boom for the animal care industry and await for 4—legged animals to live out the year in comfort.
how very sweet those pampered pets. let's ta ke how very sweet those pampered pets. let's take a look at the markets... they are flat, doing very little. essentially we are waiting for that testimony byjerome essentially we are waiting for that testimony by jerome powell. essentially we are waiting for that testimony byjerome powell. a lot of investors are waiting to hear what he might say or what sort of signals he might say or what sort of signals he might say or what sort of signals he might give towards the direction interest rates. that's it for the programme. thank you for watching. this is bbc news the top stories this hour: brazil's president says his government does not have the resources to fight wildfires raging across the amazon rainforest. president macron tells his british
counterpart they can be no major changes to the brexit agreement but some minor alterations may still be possible. the world wide fund for nature says english rivers are being "used as open sewers" with 86 % of them failing to meet clean water standards. scientists are looking to the river ingol in north norfolk as an example of a successful project. richard daniel reports river ingol wetlands a place where native species thrive. yet 18 months ago none of this existed. it is a man—made reserve built to serve a man—made reserve built to serve a man—made problem. this is the no—deal brexit, spring fed river with a delicate ecology and ecology that a few years ago was being damaged by effluent from the local sewerage damaged by effluent from the local sewerage plant that contained
phosphates and ammonia. some of the river life is good as exploiting it but some of it isn't so completely u psets but some of it isn't so completely upsets the balance of the river. something is thrive in it but a lot of the more sensitive species lose out and disappear full of dissolution? build a wetland. effluent enters at the top passing through for shallows interconnected ponds. each full the plant that strips the water of the unwanted nutrients. at the bottom, the clean naturally filtered water re—enters the river. we think it will take out 90% of the phosphorus and ammonia coming through it. that is remarkable. it is effective and matches what you could get with a conventional sewerage subgrade. they hope it will recolonise. anglian
water owns the sewerage water and has paid feed. what we have seen here is it is actually doing a fantastic job so here is it is actually doing a fantasticjob so we would like to do 30 more across our region over the next 5— eight years once our plans have been approved by the regulator. it treats about 8 million litres a day on wildlife is benefiting so is the river a simple solution that can now be replicated elsewhere. glendale hello, i'm gavin ramjaun and this is sport today, live from the bbc sport centre. coming up on this programme: jofra archer dismantles australia with a stunning display for england, on the opener to the 3rd ashes test. a near washout in sri lanka — the hosts get off
to a slow start, in their attempt to seal the series against new zealand. and which big name rugby player, is switching sports to make an impact in a whole new way? england's cricketers have jofra archer to thank — for putting them in the strong position against australia, after a rain—affected start to the 3rd ashes test in leeds. archer took 6 wickets for 45 runs as australia were bowled out forjust 179 on day one. the tourists batted first after england won the toss — and their plight would have been a lot worse if it wasn't for half—centuries from david warner and marcu labuschagne. warner made 61, while labuschagne top—scored with 74. he's deputising for steve smith, who was ruled out of this test with concussion. england will start their reply on friday morning.