tv Asia Business Report BBC News August 1, 2017 1:30am-1:46am BST
1:30 am
has been fired afterjust ten days. the white house says the president felt mr scaramucci had made inappropriate comments in a recent magazine interview. scaramucci is the fourth white house official leave his post injust ten days. an interim prime minister of pakistan is expected to be formally appointed on tuesday after nawaz sharif was stripped of office by the supreme court last week over corruption allegations. and this story is trending on bbc.com. sam shepard, the celebrated american playwright and actor, has died at his home in kentucky. he was 73. he was oscar—nominated for the 1983 film "the right stuff" and starred in "black hawk down" and "steel magnolias. " that's all from me for now. stay with bbc news. and the top story here in the uk: a former royal marine has been jailed for 18 years for making pipe bombs for the continuity ira.
1:31 am
ciaran maxwell stockpiled weapons while serving with a commando unit in somerset. now on bbc news, all the latest business news live from singapore. downgraded. toshiba moves off the main stock board of tokyo because of financial problems. and a snap deal going at a loan after calling off a sale to a rival, flipcart. good morning, asia. hello, world. welcome to another edition of asia business report. it's a tuesday. i'm sharanjit leyl. report. it's a tuesday. i'm shara njit leyl. we report. it's a tuesday. i'm sharanjit leyl. we will start with the ongoing problems around the tech giant toshiba. the markets opened for trade and its shares got demoted to the second section of the tokyo
1:32 am
stock exchange. we have that story. tell us about this demotion. they opened higher this morning. tell us about this demotion. they opened higherthis morning. up tell us about this demotion. they opened higher this morning. up about 2.596 opened higher this morning. up about 2.5% this hour. yesterday as well toshiba shares rose. if you are like me, wondering why they are actually rising despite the demotion, i have been reading reports from security companies and it is partly because shares have fallen sharply since financial trouble was reported but also because by being demoted from the first section to the second section, you remove all the big institutional investors but you also get retail investors and day traders who want to make quick money by selling and buying quickly. we have been seeing a lot of volume with trading in toshiba shares. they will continue to see volatility. the interesting thing about toshiba, we
1:33 am
all grew interesting thing about toshiba, we allgrew up interesting thing about toshiba, we all grew up with it, it is one of the best—known conglomerates in japan. how did you get here? the best—known conglomerates in japan. how did you get here7m the best—known conglomerates in japan. how did you get here? it is a dramatic fall from grace. last year it was all fine until december. that is when the company warned investors it may have to face a one—time right down in its us nuclear division. we did not know how much that loss was going to be. then we heard figures like $6 billion. for the last financial year that ended in march, the company still has not reported its earnings. the figure we are expecting is a loss of $9 billion. it is trying hard to sell its chip business, the only profitable business. it is facing legal challenges from the us partner it has. how does it recover? could it be delisted altogether? it is quite possible if it cannot solve this by
1:34 am
march. it could be delisted. 15 companies got delisted in the last decade. sharp, for example. that one turned around and taiwan's foxcon. but it is unusual. —— under. turned around and taiwan's foxcon. but it is unusual. -- under. thank you for that. in other business news, prices in south korea rose to a multi—year high injuly according to the latest government data. the consumer price index group to 20% compared to 1.9% consumer price index group to 20% compared toi.9% in consumer price index group to 20% compared to 1.9% injune. qatar has launched a formal complaint with the wto with regards to a trade embargo. four arab countries cut diplomatic and trade ties with them injune after allegations of supporting
1:35 am
terrorism. qatar called it an illegal siege. it looks like investors are illegal siege. it looks like investors a re not illegal siege. it looks like investors are not sharing the $12 billion deal in tv deals. they were hoping a merger would build up viewership figures. hoping a merger would build up viewershipfigures. shares hoping a merger would build up viewership figures. shares for discovery fell 8%. the $900 million sale of india's deal to flipcart was heralded as one of the most exciting e—commerce deals. but they pulled the plug, saying they will pursue an independent path. what is next for the struggling firmhave more. independent path. what is next for the struggling firmhave morem independent path. what is next for the struggling firmhave more. it was supposed to be an incredible deal. but instead of two arrivals coming together to create a mega firm, talks collapsed during the final
1:36 am
stages of a talk between flipcart and snapdeal. when the talks began, there were constant issues between softbank and minority shareholders. the founders of the company were not keen on selling to their main rival as well. snapdeal had been struggling financially for years, which is why it was open to sail. but last week it sold its mobile payment business to a bank raising $60 million. that has given it some financial ammunition to keep going. ina financial ammunition to keep going. in a statement, they said they would trim operations and restructure the business to stay afloat. many a nalysts say business to stay afloat. many analysts say it might not be enough to survive in the highly competitive e—commerce market of india. india is one of the fastest growing markets for on line shopping largely to do with the huge number of smartphone users in the country. and in an effort to attract customers, on line
1:37 am
retailers have been offering massive discounts. but this has made it difficult for them to make profit. amazon has been pursuing an aggressive strategy in india as well. they cut down operations, branding them as snapdeal 2.0. it might bea branding them as snapdeal 2.0. it might be a new avatar for the company, but it is facing the same old competition in the market. bbc news. in other news, warmer summer weather in europe has led to bubbling profits for heineken. they get half of their turnover from the continent. profits rose nearly 6%. $2.1 billion. it beat market expectations. they had good growth in vietnam as well. china's appetite for fast food shows no signs of slowing down. the world's second biggest economy has a more vibrant
1:38 am
restau ra nt biggest economy has a more vibrant restaurant economy than ever. chinese consumers it out almost three times a week. thanks to a growing middle—class making up 68% of all households, some of the top brands are doing extremely well. 0thers include kfc and mcdonald's. 0thers include kfc and mcdonald's. other retail industries are struggling to get by. why is casual eating restaurants becoming such a rising industry? for international brands, it has been a game of adapting the menu to local taste. kace has an entirely new occasion with breakfast in china. —— kfc. the brea kfast with breakfast in china. —— kfc. the breakfast menu is 100% chinese exclusive. they have a few different types and tastes and spices. the
1:39 am
other thing is trying to bring in healthy food. chinese mothers, just like in the west, they would like to ta ke like in the west, they would like to take their family to mcdonald's, kfc, but they want something healthy for their children and something lighter and healthy for themselves. so these chains have been adding salads, vegetables, proposing corn asa salads, vegetables, proposing corn as a substitute to french fries, and also improving ingredients themselves, putting less salt in the food, better meat, sources of potatoes and so on. tell us about the beverage industry as well. it is not just fast food. star bucks the beverage industry as well. it is notjust fast food. star bucks spent over $1 billion last week to take full ownership of china outlets. is that a good move? a very good one. this means they are taking control of the entire supply chain, the quality of the delivery in the stores. they have big plans to increase their network which is
1:40 am
today probably between 1500, around 1500. they are trying to open 1000 new stores. they have been adapting to local tastes as well. for example, in the menu in china, they have several types of tea with different flavours that cater to chinese tastes. i think it is a good move we will see star bucks extending very much the number of locations they have in china. we will turn to the market, starting with the virtual currency, bitcoin. a split in the community is set to create a new version a split in the community is set to create a new version of the cryptocurrency on tuesday. a group of insiders, unhappy with existing plans to speed up transaction times, have created a rival called bitcoin cash. that could put pressure on the value of the original bitcoins. 0ne
1:41 am
person has said it could cause chaos. the price of a single bitcoin rose 5% in us trade overnight. we will look at trade in asia. most asian markets that are open have opened higher, taking cues pretty much from wall street where we saw the dowjones yet another record high. essentially in australia we are seeing games. many investors are watching the reserve bank of australia who will announce interest—rate decisions later. —— ? ?macr01 interest—rate decisions later. —— ? ? macroi and interest—rate decisions later. —— ? ?macr01 and that is it for this edition of asia business report. thank you very much for watching. you are watching bbc news. an extra 21,000 mental health workers will be recruited in england over the next four years. jeremy hunt says it is time to end what he called the historic imbalance between mental and physical health services. the royal college of nursing has
1:42 am
questioned if there is enough time to train so many staff. we report. as a teenager, hope had a serious eating disorder. she thought she'd got through it after treatment but, last year, a family bereavement triggered a relapse. she was offered therapy, but was told there would be a 12—week wait — news she said was devastating. the way i was treated last year wasn't right. there were points when i did want to kind of end everything, and when i never thought i'd ever be well again. and it was at those points that i was so angry and annoyed at the system, because when you cry out for help, you already feel guilty because you've got this voice in your head telling you that you shouldn't be eating, you shouldn't be asking for help, so when you do call out for help and you get turned away, you think that actually, no—one does care about you, no—one kind of understands what you're going through. to cut down waiting times and expand mental health services, the government has announced an expansion of the workforce. we've worked out exactly how many more doctors, nurses, therapists that we need.
1:43 am
we worked out where we think we can get them from. like all plans, it will be challenging to deliver it, but we are determined to hold true to our promise to transform mental health services. the plan for mental health staffing involves an extra 21,000 posts in england by the 2020 financial year. this will include children's services, adult talking therapies and crisis care. but official figures show there was a fall of more than 5000 in the number of mental health nurses in england between march 2010 and march this year. the new recruitment drive has been welcomed by the royal college of nursing, though leaders say it will hard to achieve at a time of public sector pay restraint and the abolition of free tuition for new nurse trainees in england. how are we going to do that in such a short timescale? when other government policies are actually getting in the way of that. so we already know we've
1:44 am
got one in ten posts in mental health vacant. so we've got to fill those, as well as putting additional nurses in. mental health professionals like mandy stevens believe the pressures of the job are affecting recruitment. she says in her experience more staff are leaving than joining. the emotional toll on individual nurses can be very difficult, making sure people are getting supervised. i think the pay has had an impact on nurses over the past few years and it's quite difficult to make ends meet on such a low salary. as for hope, she says she has pulled through her latest mental health setback but she believes a lot more needs to be done to ensure people get the care they need when they need it. hugh pym, bbc news. that is it from me. hello, this is sport today live from the bbc sport centre. coming up on this programme: la 2028. the city council confirm a deal is being done for the games to come back to los angeles.
1:45 am
four days before the start of the athletics world championships, london loses one of its stars of the track. and it took 100 matches but moeen ali is the first player to take a test hat—trick at the 0val as england win the third test against south africa. hello and welcome to the programme, where we start with the news that los angeles is set to be awarded the 2028 summer olympics and paralympics. they had been competing with paris for 202a. this means the french capital will almost certainly be the hosts before them. the president of la city council says los angeles will benefit financially from waiting four more years for the games. we have a few formalities left to do, like the city council, the body that i oversee, we've got to have a couple of hearings and approve
108 Views
IN COLLECTIONS
BBC News Television Archive Television Archive News Search ServiceUploaded by TV Archive on