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tv   Asia Business Report  BBC News  January 17, 2024 12:30am-12:46am GMT

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li qiang said its economy grew by around 5.2% last year, beating its target. for more on this story, i'm joined now by alicia garcia—herrero, apac chief economist at natixis. when the 5% growth target was announced in two sessions for the first time in the helm of the first time in the helm of the chinese economy, 5% was very low. the reason was chided was moving over covid policies phot the benchmark was 2021. from 2020 the growth rate was 8.1. so 5% -- from 2020 the growth rate was 8.1. so 5% —— because china did so poorly in the first half of course five—point sounds good now because we were fearing that their target would not be reached. in that regard it's
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good news but we need to put him in that contact. obviously, china is facing _ him in that contact. obviously, china is facing a _ him in that contact. obviously, china is facing a slow - him in that contact. obviously, china is facing a slow death - china is facing a slow death for that what you expect the government to do to try to boost the economy going forward?— boost the economy going forward? ~ , ., , forward? well they made it very clear that 5.2% _ forward? well they made it very clear that 5.2% growth - forward? well they made it very clear that 5.2% growth was - clear that 5.2% growth was basically not working by stimulus as he said, china good immune system. it is very clear that she reach anything similar, which i think is what will be announced during the two sessions in march and we've already seen additional local governments, expectations over a cut in the requirement ratio. some stimulus was cut butjust to barely make it to five it may be slightly below five next year. may be slightly below five next ear. , ., ., . ., year. these attacks on commercial _ year. these attacks on commercial shipping i year. these attacks on | commercial shipping in year. these attacks on - commercial shipping in the red sea, what's is the impact
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likely to be on china and asia? surely these countries also need to take back the goods being shipped from that region. absolutely. china is the largest exporter by far, the manufactured products so china does suffer from when it takes to bring goods to europe. we have a real way but ukraine and russia is in the middle of that. this is one more hassle, very important ones for china's exports. now we re going to turn to asia s largest economy. earlier this week china s central bank chose to keep one
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the long shadow geopolitical crisis again the main issue at the world economic forum. the of ukrainian president loto mayor zelensky here in person talking to the worlds biggest wall street financiers trying to persuade them to invest in ukraine's reconstruction. also coming up backing a controversial scheme to span the proceeds of russian frozen assets from its sovereign funds for the i got to talk to president zelensky and i asked him about this scheme. garnering support among western diplomats. the central bankers are a little bit more sceptical about the president that might be set in what is supposed to be set in what is supposed to be cast iron safe haven assets bought by whatever in the world as they are used in a war for the president zelensky telling me that they have 300 billion
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dollars in frozen russian assets that have destroyed ukraine and they should be used because essentially western taxpayers shouldn't be relied on when those monies are available. i understand that european banks are little nervous about this game because they want to make sure that any deposits or deals have that cast—iron safe haven basis. there's also a potential legal challenge to. but president zelensky very keen to push idea that spending these frozen russian assets is the way forward to fund ukraine's reconstructions by tens of billions of dollars. the former ceo of abercrombie and fitch sexually exploited men at events he hosted around
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the world. it comes as mike jefferies and his british partner also face a civil lawsuit alleging the six track picking operation over two decades. mrjeffries who is head of the us fashion company for 22 years has not commented. in the us, a federaljudge blocked an airline merger betweenjetblue and spirit. the ruling is considered a big win for the biden administration s antitrust efforts. the news sentjetblue s stock higher, while shares in discount airline spirit tumbled 47%. for more, here s the bbc s north america business correspondent michelle fleury in new york. aus a usjudge concluded that a us judge concluded that if jetblue was allowed to move ahead with a $3.8 billion deal to buy discount airline spirit that consumers would lose out. the proposed merger would've created the nations fifth largest airline. for that wall that would've put it in a stronger position to put
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pressure on the big four areas that dominate the american market writing in the ruling the judge market writing in the ruling thejudge hurting consumers who depend on discount carrier spirit for lower prices. he said they were no bad guys in this case stating that the two companies were trying to max by shareholder value was a department ofjustice was trying to speak up for consumers who otherwise would have no voice for the jet blue and spirit said in a joint statement they disagreed with the ruling and were considering their next steps. the decision not only underscored the critical role that low—cost carriers play in the us market its also a win for thejustice it's also a win for thejustice department, which is being increasingly outspoken on competition issues underjoe biden. and still has a number of big investigations open this year, which could change everything from how americans buy concert tickets to how they shop for groceries. for many of us, new year's resolutions may involve a job
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change and as it turns out, if that s you —— change and as it turns out, if that s you — you're not alone. jobs platform linkedin has released latest data which shows in countries like india and singapore — more than 85% of professionals are considering switching jobs this year. the figures are a little lower in australia and japan. and this might not surprise you but it s gen zs and millennials that are leading the charge for change in asia. for a closer look at the findings, and what it means for the jobs landscape, i mjoined by pei ying chua, linkedin s apac chief economist. we've seen job activity has increased byjob seekers and up by 11%. all of this reflects the professionals desire to pick ownership of their careers and seek out new opportunities in the new year. on the legal there are signs that the labour market is improving and our data shows there's been active hiring in the recent months. the hiring rates in december
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were higher compared to 2022. i have more good news for job—seekers as well because our research also shows that 85% of organisations are planning to growth this year. all of these positive signs should give workers the confidence in our giving workers the confidence to take a leap and take more control over their careers. it's interesting especially with the job market being so linked to the global slowdown. all of these trends we hear, especially things like quiet quitting and also now these job changes are being led byjens e and millennial is their approach work different from the rest of us? fix, approach work different from the rest of us?— the rest of us? a lot of this is being — the rest of us? a lot of this is being triggered - the rest of us? a lot of this is being triggered by - the rest of us? a lot of this is being triggered by jens l the rest of us? a lot of this is being triggered by jens e is being triggered byjens e and malign partly they are the ones that are newly entering the workforce —— jen is evil to in terms of mindset, the past
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few years have been really different. the past few years we've been in lockdown, the mentality that we have further work is transforming. it's not solely about wage any more it's about life balance, flexibility and growth and finding the best options and the best opportunities.- options and the best ouortunities. ., ., _ opportunities. you obviously have access _ opportunities. you obviously have access to _ opportunities. you obviously have access to a _ opportunities. you obviously have access to a huge - opportunities. you obviously i have access to a huge amount opportunities. you obviously - have access to a huge amount of jobs data being in linkedin. what are your projections for the coming year with regards to job trends? i’m the coming year with regards to job trends?— job trends? i'm cautiously optimistic _ job trends? i'm cautiously optimistic about _ job trends? i'm cautiously optimistic about what's i job trends? i'm cautiously i optimistic about what's going to happen in thejob market firstly, we've seen in a uptick in hiring activity. secondly we know that organisations are planning to grow their workforce. we also heard that pack finance and hr are looking to hire. i believe that we will see a lot of movement and a lot of dynamism in the labour market this year.-
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of dynamism in the labour market this year. that is it for this edition _ market this year. that is it for this edition of - market this year. that is it for this edition of asia - for this edition of asia business report. thank you for watching. bbc news — bringing you different stories from across the uk. right, we'd better get these shoes on, then. tony is 78 and has parkinson's disease. after a spell in hospital following illness, he and his family decided tony needed more help. now, three mornings a week, a carer comes in. today, paul has helped with showering, dressing and getting breakfast, which can take tony 3 hours when he's on his own. it also takes a bit of... ..stress away from the family because obviously they worry about me. charities such as dementia support in west sussex have also seen an increase in demand for its advice and activities, up 75% on last january. they always see a seasonal increase, but believe this year it's largely due
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to difficulties for patients to see a gp and the suspension of new assessments for dementia by the local nhs following a budget overspend. the impact of the nhs diagnosis service that's actually closed from january through to march. so we have three months without diagnosis going on. i think families have got together and seeing that there have been changes in behaviour and health, so they're reaching out for support and help, trying to find out what to do and where to go. for more stories from across the uk, head to the bbc news website. hey, i'm zoph with the catch up. tonight — car insurance prices are record high, more on the post office scandal and a deer in the snow. our top story now — it can be a shock on it. the price of renewing your car insurance,
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it's up for lots of us, but we're told its affecting most of you if you're under 20. on average, it's a grand a year higher than 12 months ago, according to comparison site confused.com, with 18—year—olds expecting to pay more than 3000 for the first time. insurance companies blame rising energy costs, but our reporter charlotte has some tips on how to keep costs down. insurance companies say the increase is down to a rise in the costs they pay when we make a claim. for example, some say they've seen an increase of 40% in their energy costs. some of the stories now. a senior boss of fujitsu has apologised for the company's role in the post office scandal. paul patterson, who's head of fujitsu in europe, says that the company has a moral duty to compensate british post office workers who are wrongly convicted because of flaws in its software. next, roma have sacked their manager, jose mourinho, in what was the 60—year—old's 10th full—time role as a manager.
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the club have parted ways with him after a poor run of form, winning only one of their last six serie a games. former roma captain daniele de rossi will replace him. time now to leave you with 10 seconds of a deer prancing around in the snow, in a garden as it sweeping across parts of the uk right now. the deer was spotted in jackie's garden and she said, as you can imagine, it was a really beautiful surprise. you're all caught up now. see you later.
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hello, i'm mark edwards. welcome to sports day. here's what's coming up on our show. the date is set for a hearing into manchester city's alleged breaches of financial rules. saudi arabia avoid an upset as they see off 0man in the asian cup. rugby bombshell as rees—zammit quits the sport to try to fulfil his nfl dreams.
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thanks forjoining us on sports day. we start with football and the premier league chief executive richard masters says a date has been set for the hearing into manchester city's alleged breaches of financial rules. premier league champions city were charged with 115 breaches in february 2023, but are yet to face a hearing. while everton and nottingham forest were charged for breaching league profit and sustainability rules on tuesday. here's the bbc sports editor dan rowan. you can understand why fans of those two clubs perhaps are asking whether they're being treated somewhat differently to manchester city, for example. and masters was asked about this today. he defended the process in effect, but he also made clear that the situations are very different, but that he could understand the frustrations of fans. if any club, whether the
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current champions or otherwise, had been found in breach of the spending rules 23,

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