tv Asia Business Report BBC News February 14, 2017 1:30am-1:46am GMT
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the united nations security council has unanimously condemned north korea's latest ballistic missile test. the us ambassador to the un, nikki haley, said it is time to hold north korea accountable with actions, not words. 32 people have been killed after a tour bus crashed on a road near taiwan's capital, taipei. it's thought 44 people were on board when it overturned on a ramp. the bbc‘s cindy sui in taipei gave me this update a bit earlier. a vacancy for a chocolate and cocoa beverage taster has attracted thousands of applicants. the part time role has been advertised in the uk and requires people to be able to discern flavours in the chocolate goodies — it's not as straightforward as it sounds — apparently chocolate tasting does require some skill and training. we go to singapore for the latest business news. the us has a new treasury secretary.
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a million—dollar write—down after us nuclear investments. good morning asia, hello world. it is tuesday. that you could join us for asia business report. i'm rico hizon. the last hour, the us and is has confirmed stephen mnuchin as the new treasury secretary. he is one of the fourformer goldman treasury secretary. he is one of the four former goldman sachs employees in donald trump's inner circle. some say this goes against donald trump's election promise to drain the song. he rana
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election promise to drain the song. he ran a foreclosure machine when he managed a bank. this is how he responded. since i was first nominated to service treasury secretary, i have been maligned as taking advantage of others. hardship in order to earn a buck. nothing could be further from the truth. in the summer of 2008, i saw the devastation that was caused by the housing crisis when i watched people line up to get their life savings out of indie mac bank. it was the middle of the financial crisis, but despite the crisis, i saw a way to save the bank. the new treasury secretary, stephen mnuchin. some estimates put it at roughly 6 billion us dollars, and so the news broke in mid—december, it shares in toshiba have dropped nearly 50%. and
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today, they are down by nearly 4%. but the company is expected to say how it will raise money, so what can we expect? i put that question to gerhard fasol. i buchli, they want to keep control of their flash memory card business. if one of their competitors in the semiconductor industry are being talked about, other people being talked about, other people being talked about, other people being talked about art private equity funds, and they will want to have some management control, which are not short toshiba wants to give away. —— unfortunately, they want to keep. and a fifth time high since president trump is up, the dow and the nasdaq finishing in record territory. this is how the regional markets are opening. investors here
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are hoping that tax cuts, expected to be announced, will stoke us corporate profits and investment. in the currency markets, that is pushing at the value of the dollar, trading at its highest value in two weeks against the and, at 113.50 eight. the weekend is good news for exporters. the japanese economy is not seen the momentum it needs to get out of a slump. i asked a former bank ofjapan get out of a slump. i asked a former bank of japan member what get out of a slump. i asked a former bank ofjapan member what else the bank ofjapan member what else the bank can do. —— gerhard -- 113.58. the bank of japan -- 113.58. the bank ofjapan did --113.58. the bank ofjapan did everything they can do. but now we need a way to improve our productivity and economic growth is, and a new project. how can you improve productivity and economic growth, because the last major move
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by the bank ofjapan growth, because the last major move by the bank of japan with negative interest rates d id by the bank of japan with negative interest rates did not work? yes. in the case of companies, they worry about the market. and the growing population. now it is shrinking, the market. the companies are not eager to invest in business investment. so the government needs to find a way to improve this expectation on economic growth in terms of consumers, too, they more concerned about low wage growth as economics failed? —— has. what about the third arrow, utilising fewer workers or sorting out the labour shortage and importing more foreigners? the first arrow is economic policy, and i like to say it exists in terms of corrective over variation we are in. that worked. i guess, right now, it
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is not monetary policy issue, and so it is the third arrow, that we must worry about. —— arrow. i think shinzo abe needs to find their way to deal with the labour shortage. there is a serious labour shortage. so this question of employing foreign workers and female workers needs to go with economic reform. because everybody injapan is worried about the future. they think the system is not sustainable. the boss of rya nair says the system is not sustainable. the boss of ryanair says he worries that brexit negotiations will be a disaster triggering chaos for travellers across europe. ryanair is the biggest airline in europe by its number of passengers. its chief executive michael 0'leary said it will be difficult for the uk to be pa rt will be difficult for the uk to be part of the eu single aviation market. i feel it will be a disaster. and i suspect and hope that within two years, the british
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people realise that they were misled into voting for brexit and that leaving the single market will be very damaging for britain, and they would change their minds. the problem is remaining an open skies probably involves the uk recognising the jurisdiction probably involves the uk recognising thejurisdiction of probably involves the uk recognising the jurisdiction of the european court ofjustice, which seems to be a red line issue, and probably recognising the free movement of people, which is another red line issue. and from a consumer point of view, if negotiations go badly, what is the worst that could happen?m is the worst that could happen?m is not beyond the bounds of possibility, it is unlikely, but not beyond the bounds of possibility, that they would be no flights between the uk and europe if they walk off a cliff edge in 2019. if they pass the open skies agreements, ido they pass the open skies agreements, i do not think there will be a transitional agreement. they could be chaos for a number of weeks and months, and i'm not sure that there will be chaos, but it is really only when the british government and the british people recognise that there will be chaos that maybe you will
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get some kind of common sense prevailing. and get your rivals do not seem to think that will happen. they think that there will be some kind of good compromise drawn out, something constructive. kind of good compromise drawn out, something constructivelj kind of good compromise drawn out, something constructive. i disagree. i think the europeans are really are...i i think the europeans are really are... ithink i think the europeans are really are... i think they have taken the brexit decision badly. i think the people who have claimed that the german car manufacturers will persuade the german, the european union to give britain a good deal, i think britain will get a bad deal. speaking as someone who is irish, i am in love with britain. i want to see the common travel between the uk and ireland, buti see the common travel between the uk and ireland, but i feel the europeans are really going to bully britain very badly, and we will all be bullied into pulling apart borders and having a hard policies, and it could be damaging for the uk economy. i could be wrong, but i think that will happen. and it british company best known for its backless vacuum cleaners, dyson, is
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opening a new factory in singapore. it will work on new technologies and develop existing products, like its new drivers. the bbc simon atkinson asked sirjames dyson why it had started researching here as well. singapore is great because there are lots of young, very bright engineers, and we need lots of very young bright developing. , , developing. in , , developing. in singapore, it we are developing. in singapore, it 40% of graduates are engineers and scientists. so even though england isa scientists. so even though england is a larger country, there are fewer engineers coming out that we can employ. they manufactured goods in malaysia, the philippines, singapore, but asia is notjust about making things to you, any more, is that? it is also a place where sell products. it is incredibly important. it is important for a lot of reasons. of course, it is fast growing in terms
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of population. its wealth, its wealth generation is strong. but above all, people here understand technology and wanted. they want the latest technology and engineering, the latest psion, and by that i mean a product that does seems in an interesting way. you've been selling in china for the past three years or so. “— in china for the past three years or so. —— the latest design. there are issues they are with companies having their ideas stolen and copycat products being made. how big an issue is that for dyson? we will have that problem there selling or not. but they respect intellectual property. we have one about 500 cases on intellectual property there. the chinese courts are good. and they are applying intellectual property law. that is great. the thing is that the chinese people wa nt thing is that the chinese people want the real thing. they don't want a cheaper fake. they want the real thing. they don't want a cheaperfake. they want want the real thing. they don't want a cheaper fake. they want the want the real thing. they don't want a cheaperfake. they want the real thing, which performs as it should with the right sort of quality. so
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we have a good market there. from drivers to apples, and now apple is ata drivers to apples, and now apple is at a record high with $1133. thank you so much for investing your time with us. sport today is next. iam lebo i am lebo diseko. the latest stories: the un security council unanimously condemns north korea's latest missile test. at least 32 people are killed after a tour bus crashes in the taiwanese capital, taipei. the co—operative bank is the sale, and it is said that it has a chance to succeed. but the bank which has 4
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million customers has new rules on what again. it is still struggling to rebuild the business after the financial crisis in 2013. bellringing is not exactly the kind of weekend activity you think of as being typically dangerous. but one enthusiast found himself in all sorts of trouble at worst cathedral on sunday, after his foot got caught ina row on sunday, after his foot got caught in a row that he was flipped upside down. 51—year—old ian bowman was was visiting worcester cathedral with some fellow bell—ringers but his trip on saturday was ruined by an accident. mr bowman was ringing the bell here along with somebody else who was standing on this box. he was on tip toes to give himself more leverage, but this rope got tangled around his foot and he was pulled up into the air several feet, and was then dropped back down the same distance, hitting his head on the edge of this box here.
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these are dangerous, they are the biggest musical instruments in the world. we are very careful how we teach, so we teach people road safety, a bit like driving a car. once you can do it you are safe but even driving a car sometimes accidents happen. he was ringing the heaviest bell in the tower. it weighs two and a half tons. firemen had to winch him down 80 feet in what's called a vac—mattress, which moulds itself to his body, keeping him still. on arrival, we recognised that, due to the nature of his injuries and the fact we wouldn't want to move him any more than we had to, the best method of rescue was to lower him down by line, down through hatches in the cathedral‘s roof. all in all, it took about an hour to rescue the gentleman concerned. that was because we took our time because of the condition of the patient. mr bowman fractured a bone in his back but is still able to walk. despite his misfortune, he seems positive and has said these
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things do sometimes happen in life. sima kotecha, bbc news, worcester. certainly an eventful weekend. do remember that you can get into it with me on twitter as well as most of the rest of the bbc team. i am @lebo?diseko. time now for sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: manchester city move second in the english premier league, winning 2—0 at bournemouth. joe root becomes england test cricket's 80th captain, after being appointed on monday. and move over uncle toni.
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his time as rafael nadal‘s coach has come to an end. hello and welcome to the programme, where we start with english premier league football, and the news that manchester city have moved second on the table after a 2—0 win at bournemouth on monday. pep guardiola's side have also cut chelsea's lead at the top to eight points, with the goals coming from raheem sterling in the first half, and the second a tyrone mings own—goal. some bad news though for city saw gabriel jesus replaced early on by sergio aguero, after the brazilian injured his ankle.
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