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tv   Asia Business Report  BBC News  January 17, 2024 3:30am-3:46am GMT

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covid lockdowns. to help us break down the numbers let's go now to taipei where we can find alicia garcia, chief economist. good to see you again. we have not seen these growth numbers since early 2021. what do you make of the data? . , :: ' early 2021. what do you make of the data? . , i: ' ., , early 2021. what do you make of the data? . , :: ' , the data? early 2021 was better and that is _ the data? early 2021 was better and that is the _ the data? early 2021 was better and that is the answer - the data? early 2021 was better and that is the answer meaning i and that is the answer meaning it is rewarded in that china is growing at its stated official target but the reality is that it is very low. when 2021 ended at 8.1% and that was a similar year. a recovery from covid era policies. so the exhilaration is there and you are right, we
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can see from unemployment data and from depopulation and that is the way forward. of course, china will try to smooth this structured deceleration as much as possible. structured deceleration as much as possible-— as possible. those population numbers and _ as possible. those population numbers and the _ as possible. those population i numbers and the unemployment numbers and the unemployment numbers which china's government has decided to release this time around, what long—term impact of those figures likely to have on the economy?— figures likely to have on the econom ? ~ , economy? well, the good news, to start with _ economy? well, the good news, to start with the _ economy? well, the good news, to start with the good _ economy? well, the good news, to start with the good news, - economy? well, the good news, to start with the good news, is l to start with the good news, is because china is still urban icing and moving population from rural areas to the cities, impact on growth will be limited until they finish that process. the reason is simple, it is because the unproductive part of the population in rural areas is taking the brunt in terms of population, depopulation, falling population. the cities are growing and that is where
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growth is in china. so far, china's structured solution does not depend so much on depopulation. it willand does not depend so much on depopulation. it will and that will happen around 2030, 2035 this depending. then china will look a lot like japan with growth rate around 1%. many thanks for— growth rate around 1%. many thanks for your _ growth rate around 1%. many thanks for your time. - the global chief executive of fujitsu tokita has apologised to british postmasters who were wrongly prosecuted for fraud because of it faults in fujitsu's horizon software. it followed an apology from the head of fujitsu in europe as he answered mps' questions in a select committee session on tuesday. well, the bbc�*s correspondent has been following this story and joins me now from our news room.
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mariko, good to see you. has this impacted brand fujitsu at all? it is definitely fair to say that its reputation has suffered significantly in the uk but in its home market of japan hardly anyone has heard of the post office scandal until recently because local media has hardly covered it until the british government started talking about those compensation and so on because of that tv drama by itv. so in a way its reputation has not been affected but at the same time its software injapan is not without controversy. when some of the members of the japanese public started finding out about the horizon scandal they started comparing how fujitsu's software which resulted in an all—day suspension of the tokyo stock exchange and how fujitsu software does not work anywhere. whether that is a fair assessment is not up to us but i thought it was interesting that they made
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those comparisons. in terms of that apology that we heard from the company's global president, they have been really tightlipped until yesterday when a bbc producer approached him at the world economic forum and i think it is that definitely a welcome move from the point of view of the victims of those post office scandal is. but also it is definitely a shift in tone and the next big question is whether or not they will contribute to the compensation fund for those victims as the eu had fujitsu said yesterday. many thanks. ukraine's president has been meeting global leaders at the world economic forum in switzerland and has been trying to convince them to fund the country's reconstruction. 0ur economic editor spoke to him in davos and sent this report. the long shadow of geopolitical crises
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over the world economy a game, the main here at the world economic forum. the presence of ukrainian president volodymyr zelensky here in person talking to the world's biggest wall street financiers, trying to persuade them to invest in ukraine's reconstruction. but also coming up and supporting a big and controversial scheme to spend the proceeds of russian frozen assets from its sovereign funds. i got to talk to president zelensky and asked him about this scheme. garnering support among western diplomats. but the western central bankers are a little more sceptical about the precedent that may be set in what is supposed to be cast—iron safe haven —— haven assets purchased by whatever country in the world if they are suddenly used in a war. president zelensky telling me that they have $300 billion in frozen russian assets and they
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have destroyed ukraine and they should be used because, essentially, western taxpayers should not be relied on when there is money is available. i understand that european central banks are a little nervous about this scheme because they want to make sure that any deposit or deals with them have that cast—iron safe haven basis and there is also a potential legal challenges well. the president zelensky is very keen to push the idea that spending these frozen russian assets is the way forward to fund ukraine's reconstruction by the tens of billions of dollars. now, in the us, the fbi have begun an investigation after the bbc revealed allegations that the former ceo of abercrombie and fitch sexually expoited people at events around the world. it comes as he and his partner face a civil lawsuit
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of a sex trafficking operation. the company told the bbc it was appalled and disgusted by mrjeffreys' alleged behaviour. mrjeffreys, who was head of the us fashion company for 22 years, has declined to comment. for something a bit different. for many of us, new year's resolutions may involve a job 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 here in singapore, more than 85% of professionals are considering a change injobs this year. the figures are a little lower in australia and japan, and this might not surprise you. but it's gen z and millenials who are leading the charge for change.
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the chief economist for linkedin says it is a good year to look for a newjob. this linkedin says it is a good year to look for a newjob.- to look for a new “0b. this is hither to look for a new “0b. this is higher than h to look for a new “0b. this is higher than your h to look for a new job. this is higher than your last - to look for a new job. this is higher than your last year. l to look for a new job. this is | higher than your last year. at the same time we have also seen job search activity increased the jobseekers and it is up by 11%. so all of this reflects the professional�*s desire to take ownership of their careers and to seek out new opportunities in the new year. 0n the labour market side there are signs that the labour market is improving and data shows that there has been an up again hiring in recent months the hiring rates in december 2023 were higher than 2022. i have more good news for jobseekers as well. because our research also shows that 85% of organisations are planning to grow their workforce this year. all of these positive signs should give workers the confidence and confidence to take the lead in this seek out
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newer and better opportunities. it is interesting, especially with the job market dangling to to the global slowdown. all of these trends we hear especially things like quiet quitting and also nowjob changes are being led byjen z and millennial�*s. how is their approach to work different from the rest of us? a lot of business is being driven by generation c and millennial�*s, partly because they are newly entering the workforce and as a share of the workforce and as a share of the workforce they make up a larger share right now. in terms of mindset, the past few years have been very different, we have been very different, we have been very different, we have been in lockdowns, and the mentality that we have towards transforming a lot as well. it is not solely about weight anymore. it is about what life balance and flexibility and about growth and finding the best options and opportunities.
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you can find plenty more on all the stories on the bbc news website. that is it for this in addition of asia business report. vmcsovsk: bbc news, - bringing you different stories from across the uk. sofia duerte should have turned 23 today, but she died a year ago when a bike converted into an e—bike caught fire. her mum and herfriend have set up a petition calling for urgent action to bring in regulations on e—bikes and scooters and the batteries and chargers sold with them. if we're going to change the law, it means that her death was not in vain. that's how we feel, everybody who dies because of an e bike fire, we have to live the nightmare there. the owner of this bike escaped unharmed. but similar fires caused three deaths in london last year. the coroner, who reported
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on two of those deaths, ian potter, warned there are likely to be more. he said: e—scooters and bikes can be environmentally friendly and safe transport. the government says distributors need to ensure had a products are compliant but victims' friends and families want more. voiceover: for more stories from across the uk, head - to the bbc news website. hey, i'm zoff with the catch up. tonight, car insurance prices at a record high. more on the post office scandal and a deer in the snow the top story. the price of renewing your car insurance is up for lots of us,
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but we're told that it is 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 £3,000 for the first time. insurance companies blame rising energy costs, but our reporter has some tips on how to keep costs down. insurance companies say that increases are down to a rise in the costs they pay when they make a claim. for example, some say that they've seen an increase of 40% in their energy costs. some other stories now. a senior boss at fujitsu has apologised for the company's role in the post office scandal. paul patterson, head of fujitsu in europe, says that the company has a moral duty to compensate british post office workers who were wrongly convicted because of flaws in its software. next — roma have sacked their managerjose mourinho in what was the 60—year—old's tenth full time role as a manager. the club have parted ways
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with him after a poor run of form, winning only one of their last six serie a games. the former roma captain will replace him. and time now to leave you with 10 seconds of a deer prancing around in the snow in a garden in ayr as it is sweeping across parts of the uk. 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 and welcome to sportsday with me, marc edwards. 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 fulfill his nfl dreams.
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welcome to sportsday. 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 is the bbc sports editor dan roan. you understand why fans of those two clubs perhaps are asking whether they're being treated somewhat differently to manchester city for example. masters was asked about this today. he defended the process in effect but he also made clear that the situations are very different but he could understand the frustrations of fans. if any club whether the current champions or otherwise had been found in breach of the spending rules for year 2023,

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