tv Asia Business Report BBC News March 6, 2024 2:30am-2:46am GMT
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also close in some white house. also close in some states with the bbc us partner cbs projecting presidentjoe biden and donald trump have won their respective contests in virginia and north carolina. we engager, businesses watching the outcome of the your solution closely as a meeting affect the expansion plans i spoke to professor and he explained what businesses in the region should look out for should be another trump presidency. should be another trump presidency-— should be another trump presidency. for the trump presidency. _ presidency. for the trump presidency, the _ presidency. for the trump presidency, the fact - presidency. for the trump presidency, the fact is - presidency. for the trump presidency, the fact is he l presidency. for the trump l presidency, the fact is he is presidency. for the trump i presidency, the fact is he is a businessman. the mac case we can expect he understands what demands are coming from for business. and in terms of war affairs, many countries especially in asia, the change presidency has been a presidency has been a presidency without wars, united states did not initiate any new wars so are expecting this is
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going to happen maybe in the future as well.— future as well. building on what we — future as well. building on what we have _ future as well. building on what we have seen - future as well. building on what we have seen with i future as well. building on. what we have seen with the biden presidency, what would four more years of a biden president be?— president be? for many countries, _ president be? for many countries, they - president be? for many countries, they are - president be? for many. countries, they are afraid president be? for many - countries, they are afraid the united states have decided to pull out completely from afghanistan. it was a surprise move. they are expecting or maybe fearing this could happen in some other places, especially in asia. the us election _ especially in asia. the us election in _ especially in asia. the us election in november, . especially in asia. the us| election in november, still especially in asia. the us - election in november, still six months away but between now and then, what does that mean? our business is going to be watching cautiously? not making any big decisions. the? watching cautiously? not making any big decisions.— any big decisions. they are expecting _ any big decisions. they are expecting to _ any big decisions. they are expecting to see _ any big decisions. they are expecting to see what - any big decisions. they are expecting to see what is i expecting to see what is happening. little suspense about that because everybody predicts all candidates are going to be the primary �*s. now the election, another so because we still have some
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months before the election actually happens. in politics, thatis actually happens. in politics, that is a very long period. wall street close lower overnight with tech stocks leading to decline. a republic, but research showed iphone sales in china fell by almost a quarter in the first six weeks of the year. our asia business report are in the newsroom with the latest. it seems they have been hit on two fronts, one of slowing demand and increasing competition. slowing demand and increasing competition-— competition. that is right. a challenging _ competition. that is right. a challenging time _ competition. that is right. a challenging time in - competition. that is right. a challenging time in chapterl competition. that is right. a i challenging time in chapter for apple. you talk about competition particularly from huawei, the biggest provider of smart phones in the world, that slow down when we saw them hit by sanctions in the us. but all locatelli attempts are getting into 56 and stop them from being able to buy up the
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highest level of chips. or any technology from the us required to stay competitive. we saw apple take a lot of that market share as a result. the back half of last year, it introduced 65 that had 5g much to the surprise of many analysts. we have seen huawei regain territory. had about 64% jump regain territory. had about 64% jump in sales in the same period was for called a drop in apple. huge competition. the other element is consumption and confidence, with the property crisis, that is hitting the chinese desire to spend big on things like smart phones. it is notjust apple impacted, we saw the likes of which had op a double—digit drop. an geopolitical tensions. a lot of challenges for apple going forward.— a lot of challenges for apple going forward. thank you for sta in: going forward. thank you for staying across _ going forward. thank you for staying across that. - going forward. thank you for staying across that. sticking| staying across that. sticking with technology, matter says it has resolved a technical issue
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that caused a global outage on facebook messenger and instagram. hundreds of thousands of users worldwide were unable to access the social media platforms for around two hours last night. they also apologised to those affected, saying it resolved the problem as quickly as it could. in other news, bitcoin hit an all—time high for the first 70 years. the digital coin rose above 69,000 before falling more than 8% in the tuesday session on wall street. north america business correspondent has all the details. bitcoin �*s value is soaring less than two years after bankruptcy, company after ba nkru ptcy, com pa ny failures after bankruptcy, company failures and criminal trials sent prices tumbling. the rally was spread by billions of dollars flowing into the cryptic runcie after american financial megalitres approval of exchanged funds tied to the digital asset. that let more traditional investors put their money into bitcoin without
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directly owning it. another factor at play is the belief that america's central bank will cut interest rates this year. typically that boosts investors appetite for alternative investments like cryptic currencies. and that is not all. technical event known as halving, but the number of liquids owned by minors is produced, could potentially reduce the supply, driving prices may be even higher. still, after reaching the all—time high, bitcoin �*s price dropped more than 8%. a reminder ofjust how volatile the crypto market can be. turning to australia where the country �*s latest growth figures through the economy growing at a slower rate than expected. i.5% growing at a slower rate than expected. 1.5% year on year in the last quarter of 2023. high interest rates seem to be curbing spending. that data will be closely watched by the reserve bank of australia which holds policy meetings later this month. i spoke tojune who
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laid out her expectations for interest rates and the broader economy. interest rates and the broader economy-— interest rates and the broader econom . . , , . ., , ., economy. the many sectors are holdin: economy. the many sectors are holding up — economy. the many sectors are holding up well _ economy. the many sectors are holding up well because - economy. the many sectors are holding up well because of- economy. the many sectors are holding up well because of the l holding up well because of the majority of exports being iron ore and by supporting firm. since the chinese new year and chinese activity because the housing market, prices are holding pretty firm at this stage. holding pretty firm at this stale. �* ., , , stage. and vuitton numbers, gibson are — stage. and vuitton numbers, gibson are down. _ stage. and vuitton numbers, gibson are down. he - stage. and vuitton numbers, gibson are down. he expectsj stage. and vuitton numbers, i gibson are down. he expects to come in with incentives to boost consumption? government will be as a _ boost consumption? government will be as a device _ boost consumption? government will be as a device to _ boost consumption? government will be as a device to boost - will be as a device to boost consumption and they announced a tax cut targeted at lower to middle income households by mid this year. that is going to boost gdp quite substantially from that. i boost gdp quite substantially from that. ., ., boost gdp quite substantially from that-— from that. i want to get your thoughts _ from that. i want to get your thoughts on _ from that. i want to get your thoughts on something - from that. i want to get your - thoughts on something announced earlier today, the australian government set up a tubulin ball fund to boost trade and investment in south east asia. what do you expect from this for the australian economy? i think it is quite a meaningful
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announcement. one of the first in quite some time. it will focus on green energy and infrastructure. we do expect that to bring in morejobs and more investment into that area where we need to help the energy transition in the next few decades. d0 energy transition in the next few decades.— energy transition in the next few decades. do you making chances few decades. do you making changes to _ few decades. do you making changes to policy? - few decades. do you making changes to policy? we - few decades. do you making changes to policy? we see l few decades. do you making - changes to policy? we see them to hold the _ changes to policy? we see them to hold the race _ changes to policy? we see them to hold the race until— changes to policy? we see them to hold the race until end - changes to policy? we see them to hold the race until end of- to hold the race until end of this year because simply because the economy is doing as expected. it is not that big enough to cut rates. chancellor jerem enough to cut rates. chancellor jeremy hunt — enough to cut rates. chancellor jeremy hunt will— enough to cut rates. chancellor jeremy hunt will unhealthy - jeremy hunt will unhealthy government budget left today and they are expecting tax cuts. the economics editor reports. inflation is falling back from its energy shock highs towards the bank of england targets. on the other hand, a little tricky to talk about 20 points when the
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economy has just started shaking at the end of last year. you can see it as a shallow recession but one nonetheless. but the bank of england is holding up immediate rate cuts. the other numbers across the whole economy but does it feel like a turning point in people �*s homes? one new lens is looking at failed direct debit. people running out of cash in their own bank accounts. injanuary, 190 accounts. in january, 190 direct accounts. injanuary, 190 direct debits failed, the high since data collected from four years ago. broken down into energy and mortgage direct debit, you get the same pattern of a peak and failed direct debit very recently. these bills alone together averaging an extra £310 per month on four years ago. that is a context for a national insurance can't work about £40 a month for one work about £40 a month for one work in terms of household finances. difficulty call a turning point here. no wonder the focus from the chancellor
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on trying to give some of the tax rises back in terms of tax cuts. he is constrained by this chart, the national debt. imperceptible but is going down at the end. meaning has room for manoeuvre to hit his self—imposed target was only £13 billion a year and has full no little. to find another £10 billion, 2p national insurance cut, we expected, and expecting a further squeeze on public spending. and some extra tax on cigarettes, holograms and some flights for the big joke, at this budget with a plan for lower taxes and further public spending squeezes ahead of a general election whenever that comes. before we go, bipartisan lawmakers introduced legislation that would require china's by destitute diverse tiktok or face a complete ban in the united states for the bid bill is less action in a
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multi—year effort in the us taken tiktok and i did connection to the chinese —— ellenger connection to the chinese communist party. they will have six months to comply. that is all for this edition of asia business report. bye for now. voice-over: bbc news, - bringing you different stories from across the uk. a plot of land in waltham forest, right next to the river lea, which campaigners say they would like to turn into a community waterpark. imagine swimming in cool ponds. it is a vision they have held for five years, with community ownership at its heart. the land is owned by the government and leased out to thames water but now there is an alternative plan for the site. london councils would like to build a secure children's home there, for 24 places for vulnerable children. they say it is the first in london, and is needed due to a shortage of places available,
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which means children face long waits and can move up to 200 miles away from the capital. some people would say this is a good idea and there's obviously need for it, and if it is going to be built anywhere, why not here, as you say, it's a lovely site? we are not experts on the needs for secure facilities for children. we are experts on the needs of our local community and we would argue that this land, the best use for it is for a waterpark. it should be protected from development, it will reconnect the marshes, it will reconnect us with our heritage of the water site. it will bring benefits again to the local community. voice-over: for more - stories from across the uk, head to the bbc news website.
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tonight us elections, and shutters take a woman's fly. there is a new one on gender inequality in sport. a group of mp say a lack of kit is holding the sport back. this form england players is the lack of research is worrying. 2 million women and — research is worrying. 2 million women and girls _ research is worrying. 2 million women and girls to _ research is worrying. 2 million women and girls to play - women and girls to play football in this country, they make zero money out of it and they are putting careers, student lads, what they do alongside football at risk. next, 15 states in the us are voting for who they want to represent the republican and democratic parties in november , s democratic parties in november �*s presidential election. presidentjoe biden is going uncontested in his party and donald trump is leading the republicans. voters are being warned about what they see on the internet after his a0 generated images of donald trump with black voters will need to encourage african—americans to vote for him. here is one image you
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definitely should not believe. other stories, the bbc has been told counselling that would be asked to cut spending. and any satellite has launched into space to measure methane levels. methane is gas that traps heat and a huge contributor to global warming. here are ten seconds of dangling in the year after this woman got caught in the shadows of a shop in wales as it was going up. hope she gets used to the bank as it got close to 2 million views on tiktok. that is all from me, you are all caught up.
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england captain harry kane helped save bayern munich's season with two goals in their champions league last 16 second leg against lazio. 3—0 it finished on the night, 3—1 on aggregate as bayern, who are way off the pace in the bundesliga, book their spot in a european quarterfinal. vicki sparks reports. harry kane the hero once again as they look to avoid the first trophy less season since 2012. out of the german cup, ten points adrift, everything realistically hangs on europe. and his breast ensures the dream indoors. his first header came at a key time before the break and shortly after lazio captain missed a glorious chance himself. thomas at home before halftime before wrapping up before halftime before wrapping up the second half with his
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