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tv   Asia Business Report  BBC News  July 20, 2017 1:30am-1:46am BST

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to testify next week before two separate senate committees. they will both be questioned about allegations that russia interfered in the us election and colluded with the trump campaign. news just newsjust in, the republican senator for arizona, john mccain, has been diagnosed with brain cancer he had been recovering from surgery and is recovering well, according to his doctors. and this is trending on bbc.com — ivf will be used for the first time to try and save one of the world's most endangered species from extinction — the northern white rhinoceros. that's all from me now. stay with bbc world news. and the top story here in the uk: plans to raise the retirement age to 68 have been brought forward by seven years. the government said the decision makes sense with people living longer. now on bbc news all the latest
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business news live from singapore. talking tough. trump officials demand fairer trade links with china. can be two sides struck a deal? and how some companies are hoping to create a better workplace for mothers by providing childcare. welcome to asia business report. live from singapore. trade tensions have emerged between the us and china during the annual bilateral meeting. neither side were willing to comment at the end of the talks after the us demand fairer trade
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links with china. washington wants to reduce its massive trade deficit in goods from beijing. that deficit reached nearly $350 billion last year. the us also wants a better access to china's growing consumer markets. but the trump administration could introduce ta riffs administration could introduce tariffs or quotas on chinese steel and aluminium products. washington has frequently accused beijing of flooding the market and driving prices down. earlier i asked our business correspondent is this tough talk is a good strategy. donald trump campaigned on this promise to shrink america's trade deficit which he says are helped diminish american manufacturing. if you look at the trade gap in america, the widest gap it has with any country is china so unsurprisingly it has been a focus of tough talk. the president chose a
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billionaire investor to steer this meeting, and his language echoed that of his boss. china now accounts for nearly 50% of the us goods trade deficit. if this were just the natural product of free—market forces, we could understand it. but it is not. and so it is time to rebalance our trade and investment relationship in a more fair, equitable and reciprocal manner. donald trump has stopped labelling china at currency manipulator. comments between the two sides after an amiable meeting between president xi and donald trump have suffered. if you listen to the leader of the chinese delegation, his comments we re chinese delegation, his comments were restrained. translation: china and the united states are still
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having dialogue, not confrontation. dialogue can not immediately address all differences that confrontation will damage the interests of both. despite that amiable meeting between the leaders of the biggest economies. there are still tensions. 0ne economies. there are still tensions. one of the key ones that has been focused on is a fight over steel and what could happen. on the trade deficit front, beijing has its own reasons that it is urging washington to loosen outdated restrictions on the export of high—tech products. i don't think many were expecting a concrete announcement but what is next? well, yeah, these two sides, nobody was expecting much to come out of the meeting that there are a few things pointing out. there was nojoint statement few things pointing out. there was no joint statement following the meeting. there was a meeting with the press that was supposed to
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happen but was counselled. this is a departure from what we have seen previously. i think people interpret it as previously. i think people interpret itasa previously. i think people interpret it as a sign of disagreement between the two and it goes back to the steel tariffs. that is something we could see going forward. steelmaker shares in america were soaring after the results of this meeting. in other business news making headlines, there has been a twist on one of china's biggest property deals with the group now deciding to sell 77 hotels to a different buyer. becomes just one week after the property giant agreed to sell all of its hotel assets for $9.3 million. wall street's top indices closed at record highs on wednesday, boosted by the technology sector. they hit
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new highs with rising oil prices and solid corporate earnings, driving some of the days of gains. shareholders of british american tobacco shareholders of british american to ba cco have shareholders of british american tobacco have approved the acquisition of an american company. $47 billion deal is expected to be completed next week. it will create the world's biggest tobacco company, controlling more than 12% of the global market. imagine if you could do your banking using nothing more than your eyeball and your smart phone. biometric technology is being adopted by banks and tsb sees the first in europe to introduce it. as thou tech expert explains, there may be concerns about security. from september, you rise could be your password into your bank account. we will show you how to use your iris. tsb customers will need
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an advanced samsung phone to try out the technology. you set it up by getting the phone ‘s camera to scan your eyes. then if you want to log to your bank account, you just need to your bank account, you just need to look at the screen. because it is looking at 266 different characteristics of your eye... let's just check, can you getting?m characteristics of your eye... let's just check, can you getting? it will not work if someone else looks. just check, can you getting? it will not work if someone else looksm is extremely fast. less than a second to access. it is extremely secure. and there is nothing more convenient than looking at the screen of your smart phone. you don't have to do anything special. we all know about the complexities of getting into your online accounts, remembering passwords, fiddling about with devices like this. good biometrics, which depend on something unique about you, simple answer? facial recognition and retina scanning are used at passport control in various
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countries and fingerprint scanning on smart phones has taken off as a mean of paying for anything for coffee from a bus ticket. but even those promoting biometrics admit consumers have two big concerns. privacy and the security of the technology, whether can be spoofed. if we got that right and put the right processes in place, i think the convenience of the biometrics offers will create a fantastic customer experience. german hackers claimed they fool the iris scanner with a high—definition photo. but the phone maker and tsb insist it is unlikely that anybody would have both the phone and the photo needed to defeat the system. all across bbc news today we are looking at the pressure of child ca re looking at the pressure of child care forfamilies looking at the pressure of child care for families around the world. problems for working families during the holidays, and how businesses respond. chukker in the us is a big
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business, given the length of their school holidays. —— childcare. yellow school buses on the streets of manhattan in the summer, do not mean school. it means camp. although some bread the 45 minute bus ride, the destination is an idyllic summer experience city children. this other day camp spends 50 acres. campers undertake a range of activities from zip lining to making a camp delicacy, small was. there are hundreds of camps like these running in new york state all summer. but they are not cheap. camps can be anywhere from $500 a week to $1000 a week. there is a range for everybody. a private day camp with bus and lunch is 750 to 1000, but there are local cancer can be left. camps like these offer children,
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especially those who live in the city, a unique experience. they can also be prohibitively expensive for pa rents. also be prohibitively expensive for parents. these campers are filing into the classroom to make beads, necklaces. it is just one of the many activities offered by the brooklyn children's many activities offered by the brooklyn child ren's museum many activities offered by the brooklyn children's museum day camp programme. it comes at no cost to pa rents. programme. it comes at no cost to parents. as a result, the wait list is double that of the number of campers they can accommodate. some pa rents campers they can accommodate. some parents have the means to afford to expose their child to certain experiences. 0thers expose their child to certain experiences. others do not. some pa rents experiences. others do not. some parents rely on this programme to help them make ends meet. some pa rents help them make ends meet. some parents did not have the resources to pay thousands of dollars for a summer programme. as many parents know, children are pricey proposition all year round. when it comes to child care over the summer, there options are defined by your
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means. a reminder, we will be looking at the cost of childcare across the bbc today online and via social media. follow the conversation online. let's have a look at the markets before we go. asian markets take their cue from wall street after the record close that i mentioned earlier. the japanese market and the australian market are both higher. bad is it for this edition. sports today is coming up next. —— that it for this edition. the top stories this hour. donald trump's eldest son, his son—in—law and his former campaign manager have been called to testify before congress next week, as part of the investigation into alleged russian meddling in the election. the republican senator from arizona,
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john mccain, has been diagnosed with rain cancer. he had been recovering from surgery after announcing over the weekend that doctors in phoenix had removed a five centimetre blood clot a bove had removed a five centimetre blood clot above his eye. residents of the fishing village of coverack on the lizard peninsula in cornwall, have been counting the cost of tuesday's devastating flash floods. jon kay reports. look at the mess, all this mud everywhere. back home, but it's not the home they know and love. chris and penny's place has been trashed. the water was higher than their heads. they escaped upstairs. and here they are last night, as the water raged below, the couple airlifted to safety by the coastguard. ijust wanted to get out and get away. they told me it was heartbreaking to look down from the helicopter at their flooded property. it was just like the titanic sinking. you know, it was really upsetting. that made me upset and he was crying
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and upset, weren't you? he worked so hard and made it so nice and then we get mud in everywhere. well, you just give up, don't you? no, we don't give up. it all happened in minutes. torrential rain then tonnes of water thundering down from the hills, carrying everything in its wake. mary has found her elderly mother's walking frame among the piles of debris, next to it even her kitchen sink. it's happened. we can't put it back, we've just got to get on and carry on and do what we can. we'll get back to normal. we're cornish, that's what we do. the mud and rock can be cleared quickly, but major structural repairs will also be needed. the main road into coverack looks like it's been ripped apart by an earthquake. at this time of year there'd normally be thousands of holidaymakers driving down this
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road every day to get to the harbour, but it's going to be a while before anyone can drive down here. caroline davis was rescued from this car, today she realised how close she'd been to where the road collapsed. it's very, very shocking, it really is. to think one day you're just driving along in your little car and then this happens. they're used to bad weather here, but they hope they won't have to deal with anything too extreme for a while. jon kay, bbc news, coverack, in cornwall. hello, i'm marc edwards and this is sport today, live from the bbc sport centre. coming up on our show: ready for the elite of world golf — royal birkdale prepares to to host the open championship.
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battered and bruised, leading sprinter marcel kittel is forced to abandon the tour de france. chelsea agree a deal to sign real madrid striker alvaro morata for around $91 million. hello and thanks for joining us on sport today. we are just a few hours away from the start of the 146th open championship taking place at royal birkdale, on the north—west coast of england. sweden's henrik stenson is the defending champion, but is certainly not the only man with compelling ambitions of walking 0nce once you win one, obviously it's off your shoulders, and it's more about putting yourself in contention again and trying to win a second one. given a long and successful career that i

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