Skip to main content

tv   Asia Business Report  BBC News  February 27, 2024 12:30am-12:46am GMT

12:30 am
hello and welcome to asia business report. i'm steve lai. the us supreme court heard arguments in two lawsuits today which could shape the way america regulates social media. at issue are laws in texas and florida that put restrictions on how platforms like facebook, youtube and x police online material. our north america business correspondent michelle fleury filed this report. what can people say, hear or read online? for several hours, justices from america's highest court questioned aspects of legislation passed in florida and texas that limits what social media platforms can do to moderate content. now, these laws were introduced after the siege of the capitol onjanuary 6, which led to former president donald trump being removed from several social media networks. supporters of the law argued that it was necessary to prevent censorship
12:31 am
of conservative users, a long—running concern among republicans. they argued that they were simply trying to regulate business behaviour, not the speech of these firms. but opponents, including netchoice, which is the industry group challenging both laws, said they infringed on the platform's own first amendment rights by limiting the content these companies can publish and warning that a ruling for the states would deal a blow to the online platforms�* business models, which rely on curation to attract users and advertisers. the supreme court is expected to issue its ruling injune, in the crucial months ahead of the upcoming us presidential election. in other news, microsoft has inked a new partnership with french start—up mistral ai. the deal is part of the tech giant's strategy to expand its footprint in the artificial intelligence industry. under the agreement, mistral�*s large language models will be available on microsoft's azure cloud computing platform
12:32 am
and give microsoft access to a new customer base. speaking of artificial intelligence, we've been hearing a lot about al recently and what it means for the job landscape. linkedin, the business networking site, says by 2030, ai will disrupt half of alljobs and change 70% of the skills needed in an averagejob. i spoke to karin kimbrough, chief economist at linkedin, who explained how companies are beginning to retrain workers. we had a really interesting set of data at linkedin. we have a billion members and 65 million companies, so that's an awful lot of data to understand how peoples�* jobs are changing over time, and what are the skills that employers are looking for? so we were able to actually dissect all that and come to the conclusion that a lot ofjobs are actually seeing skills that are required rotate over time. so when you look at particular occupations, you can start to just back out a number that's honestly approaching
12:33 am
60% of alljobs are going to be somehow either augmented by generative al or disrupted, and really depends on the mix of tasks and skills that belong to any particular occupation. it really does seem like there's no stopping ai, so are businesses and employees ready for this change? i think last year was probaly the year where we started to build awareness around what, in particular, generative ai might have the potential to do. let's be honest, al's been around for a long time, but generative ai is fairly new. and this is the year, steve, where i think we're starting to see companies explore how to integrate it with their business processes and how to marry that sort of hopefully great combination of human talent and innovation with the efficiency that generative ai tools can bring. so, that's the hope. what's really going to take place right now is a lot of opportunities, hopefully, for upskilling and learning, because we're seeing the demand
12:34 am
for al just continue to go up in ourjob postings. that's a very optimistic outlook that you have there. if i canjust keep it real for a second and get your honest take on the overall impact that you think ai is going to have on the labour market, will ai create morejobs than it takes away? you know, in the long arc of history, technological evolutions generally do create more jobs than they disrupt, but it would be false to not acknowledge that there is disruption, and those are costs to people on the ground who have jobs, and the best way to minimise those transition costs is really by offering training. there is a great example of this, steve. just recently, the singaporean government announced that it was going to make all citizens over the age of 25 eligible for funds to invest in themselves for training, and that's fantastic. that's a thing we're supportive of. we actually already see on our platform, just globally, a 5x increase in professionals who are trying to engage
12:35 am
with more ai content, taking learning courses online. so people are investing in themselves, but it's going to take time. the gender pay gap at every large private sector employer in australia has been publicly released for the first time today. in 2023, australia's national gender pay gap fell to 21.7%. the government says that on current projections, it will take another 26 years to close the gap. research suggests companies that take deliberate, long term action gets positive results. from sydney, phil mercer reports. australia prides itself on its egalitarian spirit, but the difference in pay between men and women is a stubborn problem. for every $1 a man earns, women earn $0.78 on average. when you look at that figure, it is almost like there's
12:36 am
a message out there saying, "you're not equal enough yet." at the heart of it, really, is the undervaluation of women's work. in sydney, it's an issue that divides opinion. a lot of companies, they're more, you know, men and the boys club, so it's pretty hard for women to sort of break in and get promoted. and it's not easy for women. yes, it's a very blokey - society, this, in many ways, but it's also changed - dramatically over the years. i don't think it's as much of an issue any more. i various factors in australia limit a woman's capacity to earn. female—dominated industries such as teaching and nursing have attracted lower wages. women often take more time out of the workforce to look after children. then there's discrimination. but things are changing. gender pay differences at laing 0'rourke, an international engineering and construction company, are just above the australian average, but there is a concerted effort to bring about change. firstly, it's been getting more
12:37 am
women into leadership roles, so recognising talent in our organisation, developing them and putting them into senior roles. the other thing has been really closely analysing our data. so we really want to understand whether we do have bias within our remuneration processes. new laws require every large australian business to publish their gender pay data. but will transparency or naming and shaming those who perform badly make any difference? 0n the one hand, there's the kind of "sunlight is the best disinfectant" view of the world, and that shining a light on this will hold people to account. if it's used as a kind of gotcha thing for politicians and others to get a quick sound bite, then i think it won't be all that helpful. while there is progress, it is slow. many people working today will have retired long before the pay gap between women and men in australia is closed. phil mercer, bbc news, sydney.
12:38 am
turning to japan, where we've seen the stock market hit record highs this month, even as the economy remains in a technical recession. so why is there such a divergence between the stock market and the broader economy? jesper koll, who has been following the japanese economy and stock market for over three decades, weighed in. the ceos are now really focusing on capital returns, so you see a record number of share buy—backs, record amount of mna activity, so the gap between the japanese economy and the japanese stock market is widening because, now, the ceos of companies care about the shareholders. and could you give us an example of companies that have done that were taken that sort of action? look, you see it in the aggregate numbers, record number of share buy—backs now, almost 3% of market capitalisation. that used to be close to nothing. then, just yesterday,
12:39 am
you had a new takeover bid in the drug store space here with aon corporation, the big giant, potentially taking over some of the subsidiaries where they owned a little bit of stake there. that's the sort of industrial consolidation that we've been waiting for for the last three years. now it's happening. last 30 years. -- and you talked about the separation there between the stock market and the overalljapanese economy — is that a good thing, then, forjapan�*s economy? doesn't sound like it could be. and what does it mean for consumers? are they benefiting in any way? you put your figure on the pulse here. i'm living in a country... here injapan, one in four people lives off a pension, and when the pension... for a pensioner, the big problem is inflation, the fact that food prices and energy prices are rising, the fact that the stock market is going up because of great corporate action doesn't really matter when you're on a pension, so the gap, given how top—heavy
12:40 am
old japan is, the gap between the feel—good factor for the people and the feel—good factor for the stock market is widening further. and that's it for this edition of asia business report. a panel task with ms going boeings operations has raised concerns about the system manifestations. the review found a disconnect between sin amendment and other stuff. it also found safety messages are not effectively plummeted across the company. this report was ordered by the us government after crashes in 2018 and 2019 involving boeing jets. boeing is currently reviewing the findings. and that's it for asia business report. see you soon. bbc news — bringing you different stories| from across the uk. back to training in middlesborough. elias is already thing about his next bout after taking the welterweight belt at the regional unity fighting
12:41 am
championship in darlington. there's also a champion! it is every day _ there's also a champion! it is every day training. _ there's also a champion! it is every day training. there are no days— every day training. there are no days off. even after the fight, straight in after two days— fight, straight in after two days for— fight, straight in after two days for the next fight. at this— days for the next fight. at this amateur level, you keep going — this amateur level, you keep going as _ this amateur level, you keep going as much as you can. if you — going as much as you can. if you get— going as much as you can. if you get injured, you can take time — you get injured, you can take time off, _ you get injured, you can take time off, but at a pro level, you — time off, but at a pro level, you get— time off, but at a pro level, you get injured more, but images _ you get injured more, but images you can keep going. there's_ images you can keep going. there's a _ images you can keep going. there's a lot into it, there's ioads— there's a lot into it, there's loads of— there's a lot into it, there's loads of different martial arts. _ loads of different martial arts, more than 30, i would say, — arts, more than 30, i would say, but _ arts, more than 30, i would say, but overall it is mainly mental— say, but overall it is mainly mental toughness that you need. you need — mental toughness that you need. you need the discipline, you need — you need the discipline, you need the _ you need the discipline, you need the mental toughness, you need _ need the mental toughness, you need to— need the mental toughness, you need to be able to carry on going — need to be able to carry on going even when you're tired or your— going even when you're tired or your body— going even when you're tired or your body tells you to stop, you — your body tells you to stop, you keep _ your body tells you to stop, you keep telling.— your body tells you to stop, you keep telling. ilyas's proud dad has been _ you keep telling. ilyas's proud dad has been supporting - you keep telling. ilyas's proud dad has been supporting him l dad has been supporting him since he started at 1a. dad has been supporting him since he started at 14.- since he started at 14. very, very proud- _ since he started at 14. very, very proud- we _ since he started at 14. very, very proud. we have - since he started at 14. very, very proud. we have been . very proud. we have been working hard to get this and disguise the limit now. we've got one title, we've got another title line—up in the end of march there, and another
12:42 am
one in end of march there, and another oneinjune end of march there, and another one injune as well. find end of march there, and another one in june as well.— one in june as well. and after that, ilyas — one in june as well. and after that, ilyas and _ one in june as well. and after that, ilyas and his _ one in june as well. and after that, ilyas and his team - one in june as well. and after that, ilyas and his team have| that, ilyas and his team have their sights set on the american circuit. for more stories . from across the uk, head to the bbc news website. hey, i'm stephen with the catch up. we're talking about car insurance first — and if you're a driver, you probably know it is not cheap. but our bbc verify team has found that if you live in an area with more people from ethnic minorities, you could be paying hundreds of pounds more. let's show you an example — this is sandwell in birmingham and two areas with pretty similar levels of crime and road accidents. we took two drivers who are exactly the same but changed their address. the driver in the more diverse area was quoted around £800 more. our team found this is happening in areas across england. the group that speaks for insurers says they do not
12:43 am
and can not use ethnicity as a factor when setting prices and that its members comply with the laws. a few other stories now — and have you been off sick recently? there's some new research that people in their early 20s are more likely to need time off than someone in their early 405. the resolution foundation says mental health issues are a big factor. and amy schumer�*s revealed she has cushing's syndrome. it's a condition that mainly affects people who've been taking steroid medicine for a long time. lots of fans have been making comments that her face looked "puffier" in recent interviews. amy says the condition will "work itself out". and it's cold — you might be thinking about booking a summer holiday. but ryanair says it might have to charge more for flights this summer. it's because of delays to some of its plane deliveries. and we're going to leave you with ten seconds of arms of steel. this is england's strongest man, paddy haynes, crushing a frying pan with his bare hands. he did it in about five seconds. i really need to get
12:44 am
back to the gym. you're all caught up now. have a good night! hello and welcome to sportsday. i'm will perry. here's what's coming up
12:45 am
on the programme for you. everton�*s hopes of staying in the premier league are boosted after having their points deduction reduced. england's cricketers put up a fight in the fourth test but lose the series in india. and we hearfrom golf�*s supermarket delivery driver who's just won a life—changing amount of money. welcome along to sportsday. we start with the big news from the premier league, where everton have had their points deduction for breaking spending rules reduced from ten points to six by an independent commission. the club were punished back in november last year for breaches over a three—year period to the 2021/22 season. it was a significant day
12:46 am
for the club, who started it

17 Views

info Stream Only

Uploaded by TV Archive on