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tv   Asia Business Report  BBC News  November 10, 2023 12:30am-12:46am GMT

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lifung and a range of economic issues are likely on the agenda. it comes ahead of a meeting between presidentjoe biden and chinese president xi jinping next week on the sidelines of the apec summit in san francisco an annual event that brings together top government and business leaders from the 21 economies in the pacific rim. from new york, here's the bbc�*s north america correspondent michelle fleury. the us is so sick this years asia pacific corporation summit, an annual event to promote trade between its members build up ahead of next week's gathering in san francisco there's already been a flurry of diplomatic activity, including a meeting between america and china's top finance officials. at a between america and china's top finance officials.— finance officials. at a time of intense competition - finance officials. at a time ofi intense competition between finance officials. at a time of- intense competition between the two nations janet yellen had this message for china's new economic tsar.—
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economic tsar. the united states has _ economic tsar. the united states has no _ economic tsar. the united states has no desire - economic tsar. the united states has no desire to . states has no desire to decouple from china. a full separation of our economies would be economically disastrous for both of our countries and for the world. we seek a healthy economic relationship with china with benefits to both companies over time. , . ,. benefits to both companies over time. �* . ,. , time. janet yellen sc comments become between _ time. janet yellen sc comments become between joe _ time. janet yellen sc comments become between joe biden - time. janet yellen sc comments become between joe biden and| time. janet yellen sc comments l become between joe biden and xi become betweenjoe biden and xi jinping next week. the two most powerful nations met in bali a lot has changed despite restrictions on high—tech products over the last few months for the us — china relations have actually improved both sides keen to find more ways to cooperate on economic issues. translation: thank ou economic issues. translation: thank you madam _ economic issues. translation: thank you madam secretary - economic issues. translation: thank you madam secretary for l thank you madam secretary for your— thank you madam secretary for your remarks. it gives me great pleasure — your remarks. it gives me great pleasure to meet with you and the beautiful city of san francisco. it is less than four months _
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francisco. it is less than four months since we last visited beijing — months since we last visited beijing and we had an in—depth discussion on mutual interest. and the — discussion on mutual interest. and the efforts of these two superpowers to stabilise comes against an increasingly complicated backdrop for the aspiring global economy, geopolitical tensions and at the parts of the world. we also understand that the us and china — the world's top carbon emitters have reached agreements on a number of ways to tackle climate change. but details have not yet been announced. we'll bring you them as we get it. this all comes as china struggles with a number of economic issues. yesterday, the world's second biggest economy slipped back into deflation, where prices fall. a key measure of foreign investment has also turned negative for the first time since records began 25 years ago.
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so are tensions between washington and beijing causing foreign investors to pull back? or is it due to other issues, such as china's relatively low interest rates? dan wang, chief economist at hang seng bank china gave me her take on the current state of the chinese economy. the economic sentiment in china is certainly arousing negatives at this point. people have high hope after the opening. it seems that investor confidence and consumer confidence will take much longer. and when it comes to investment then we can see it is turned negative for the first time since 1998. this suggested that a lot will continue inside china and the policymaking side as well as the concerns about where china relationship is going. the main driver of the economy is the property market and this drag expected to last for years. we've seen the data, we heard about the tensions. what are business owners thinking? they know there is a slowdown in china. ~ ., ., , know there is a slowdown in china. ., ., , .,
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china. what do they want the government _ china. what do they want the government to _ china. what do they want the government to do? _ china. what do they want the government to do? so - china. what do they want the government to do? so far- china. what do they want the | government to do? so far the response is really lacking. no dues there was some hope that maybe interest rate cut would be more generally targeted, instead in certain sectors there is also more hope that there is also more hope that the private sector could have gotten more help. so far monetary policy is relatively tight. we don't anticipate any large stimulus plan. the only positive side from the central authorities is that it's already news for the central government to take over some debt. that in a way stimulates the local demand for infrastructure spending. not enough to pull up the chinese economy, of course. there has to be more from the government to be more from the government to actually help consumers to restore their purchasing power. what are you expecting from the apex summit in san francisco is notjust apex summit in san francisco is not just to
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apex summit in san francisco is notjust to increase the channel of communication is a good sign. channel of communication is a good sign-— channel of communication is a good sign. people are not, the relation will _ good sign. people are not, the relation will go _ good sign. people are not, the relation will go back— good sign. people are not, the relation will go back to - good sign. people are not, the relation will go back to what i relation will go back to what it was 20 years ago but now people are making plans for next year. and this can be a positive signal, just by the meeting of the two leaders. news corp says it's in advanced talks to strike deals with al companies who use their content. the media conglomerate's chief executive wants ai companies to pay for using its content to train their language models and says it expects this will bring significant revenue to the company. news corp also says it's reviewing it's company structure in response to calls from activist shareholders for a restructuring. at the end of this month 28 gets under way in dubai. representatives sums singapore is 380 billion state fund will be there. they see green
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initiatives in emerging markets as a prime target for investment. but it's vice chair of sustainability says things have gone backwards after the pandemic. i have gone backwards after the pandemic— pandemic. i think we do need more public _ pandemic. i think we do need more public finance. - pandemic. i think we do need more public finance. you - pandemic. i think we do need more public finance. you can| more public finance. you can see there's been a big response from the private sector and we've been putting our own initiatives, will that collaborate shin which is look at providing sustainable so you can finance hard to finance projects, renewable energy projects, renewable energy projects things like that across south east injure. we need a lot more public finance for that there's a whole topic two talking about blended finance. concessionary capital. it's an urgent focus on that. what if i told you that changing the shape of an aeroplane could cut its carbon emissions in half? a company called jet zero is promising
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just that by radically redesigning the shape of aeroplanes as we know them with something called a blended wing body shape. my colleague aaron heslehurst met the boss at their headquarters in long beach, california and asked why this was happening now given the idea has been around for decades. the advantage of all composite aircraft is probably the biggest thing. it's a great enabler of this particular shape. we can build their shape, which is more efficient, what the world needs most is a step change. in aviation and thatis step change. in aviation and that is exactly what this new ear frame can provide. that is exactly what this new earframe can provide. if ear frame can provide. if you're talking about the possibility of 50% savings in efficiency and fuel burn, i would only imagine our airlines knocking down your door? absolutely. we're talking to all the major airlines globally because 50% is not been on the table. they are used to ringing
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out a percentage point or two based on configurations. there interested _ based on configurations. there interested in _ based on configurations. there interested in this. _ based on configurations. there interested in this. i'm - based on configurations. there interested in this. i'm going i interested in this. i'm going to pick the model appear. we can see the picture here, you got the windows. the passengers sit along here and on here and then inside the guts of this plan? then inside the guts of this ian? ~ ., ., ., plan? without a window, obviously. _ plan? without a window, obviously. that's - plan? without a window, obviously. that's exactly | obviously. that's exactly ri . ht. obviously. that's exactly right- for— obviously. that's exactly right. for sure. - obviously. that's exactly right. for sure. do - obviously. that's exactly right. for sure. do we i obviously. that's exactly i right. for sure. do we have obviously. that's exactly - right. for sure. do we have any idea what kind of passenger experience you will get on board this?— experience you will get on board this? , , ., ., , board this? this is going to be a different _ board this? this is going to be a different shape _ board this? this is going to be a different shape of— board this? this is going to be a different shape of an - a different shape of an aircraft. it's going to give us an opportunity to focus on all the improvements that that shape enables. from the front of the aircraft the windows are forward, where we can create a more spacious environment. amazing. it all sounds very promising. let's talk about the reality. where are we at? you
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build a prototype, went to going to be in the air? first, we're working _ going to be in the air? first, we're working with - going to be in the air? first, we're working with nasa - going to be in the air? first, we're working with nasa in l going to be in the air? first, i we're working with nasa in the air force to build a full—scale demonstration, we're entirely focused on demonstrating capacity for performance with this frame at a full four year programme for the four year programme. 2027, we fly the plane. a prototype? exactly. in scale and bring onto the market. the co—founder of apple steve wozniak has suffered what he called a �*minor stroke' in mexico city. he was there to speak at the world business forum about the risks of ai but told us media he experienced dizziness and vertigo and found himself unable to walk. the engineering prodigy, nicknamed "woz," founded apple in 1976 with stevejobs, who died in 2011. he invested the first apple computer but effectively left the company in the early 1980s. the thai media company that owns the miss universe pageant has
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filed for bankruptcy. jkn global group announced the move in a statement to thailand's stock exchange. thanks for watching. hey, i'm with the catch up. our top story — hundreds of mcdonald's employees say they've seen things like harassment, sexual abuse, racism and bullying after an investigation into how staff are treated. injuly, more than 100 mcdonald's workers told the bbc about a toxic culture. now one group are planning legal action and mps are going to question
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the company's uk boss, ed was 16 when he started working at mcdonald's and says a senior manager repeatedly asked him for sex. i would get really upset about going in to work and i would cry a lot before my shift. the uk boss of mcdonald's says after the first investigation he immediately ordered measures to address things and says he's completely determined to root out any behaviour that falls below high standards. below high standards the company demands. the dad of liverpool footballer luis diaz has been released by colombian rebels nearly two weeks after he was abducted in the family's home town in northern colombia. liverpool's boss, jurgen klopp says diaz was really happy and the club are delighted by the news. and top gear presenter chris harris says co—host freddie flintoff is healing after his huge crash while filming for the show. the former cricketer was injured last december, but we don't know a lot about what happened. freddie was first seen back in
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public in september with scars on his face. and time now for ten seconds of a wavy world record. australian surfer laura evert paddled into this huge wave, which was over 13 metres high, beating the previous women's record by just a foot. you're all caught up now. see you later. bbc news — bringing you different stories from across the uk. it may look like a trip to the science museum, but believe it or not, this is gatwick. it's a new centre with hands on experiments with the hope of inspiring schoolchildren to considerjobs in stem. otherwise known as science, technology, engineering and maths. fundamentally, it is about our future pipeline of talent. we're hoping that they might be, some of them might be the workforce for the future, with gatwick. featuring a mock up runway lighting rig.
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among this group, many were keen to see the opportunities on offer. when i grow up, i want to be an engineer. i think something to do with electronics, something to do with biotechnology, something to do with stem. when i'm old, i want to be| an aircraft carrier designer. i like to make a plane that can hold about 8000 people - with over a kilometre long. when i grow up, i want to be an engineer. i love the idea of creating planes and making them go faster. so i think it would be really cool to build a plane and then have the chance to go on it yourself. the specially adapted space will be here for a year as part of a pilot and will get feedback from schools and students with the aim of attracting a host of new and enthusiastic talent to the airport's workforce. for more stories from across the uk, head to the bbc news website.
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hello. welcome to sports day. with me, hugh ferris, our top stories. nearly two weeks after he was kidnapped in colombia. luis diaz's father arrives home. top of the bundesliga and now the first team through to the europa league knockout stage — life is good for bayer leverkusen. and who knew net run rate would matter quite so much? new zealand's big win over sri lanka all but seals a cricket
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world cup semifinal place. hello again. welcome along to sports day. the father of liverpool, forward luis diaz, has been released by the colombian guerrilla group that kidnapped him 13 days ago. luis manuel diaz has been held by members of the national liberation army since being abducted in his hometown of barranca. 0ur correspondent natalie perks reports. weak from his ordeal but in good spirits, manny diaz returned home to a hero's welcome. it had been 13 long days since friends and family had heard his voice.

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