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tv   Asia Business Report  BBC News  September 13, 2017 1:30am-1:46am BST

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people in myanmar. almost 400,000 rohingya refugees have poured across the border since the end of august. the prime minister of bangladesh has called on myanmar to take them back. north korea has threatened the united states with the greatest pain it has ever suffered following new sanctions. president trump said the move was nothing compared to what would have to happen to deal with north korea. and this story is trending on bbc.com — apple has revealed a high—end smartphone with an edge—to—edge screen that has no physical home button. the iphone x — which is referred to as 10 — uses a facial recognition system to recognise its owner. it is the company's most expensive handset to date. that's all from me for now. stay with bbc news. and the top story here in the uk. the public sector pay cap is to be scrapped. police and prisoner officers will be the first to benefit. union leaders say the partial lifting of the policy is pathetic. more on that coming up. now, asia
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business report. chinese banks are getting serious, making it harder for chinese banks are getting serious, making it harderfor money chinese banks are getting serious, making it harder for money to chinese banks are getting serious, making it harderfor money to move in or out of north korea. and it is the day apple fans have been waiting for, the big reveal of the 10th anniversary iphone. hello and welcome to the programme. chinese banks are being quietly but steadily restricting access to north korean businesses and citizens over and above any formal un sanctions, the banks that do regular business with north korea have stopped accepting new accounts from the country and some of reportedly refusing new
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deposit from existing clients. so, is itan deposit from existing clients. so, is it an effort to change the behaviour of the north korean government, or is the action aimed at the united states? earlier, i spoke to block in shanghai. this is the latest step in a process that has been ongoing since perhaps april. and, at each step, it hasn't quite been sufficient to allow the us to gain subjective which is the moderate north korean behaviour but it's unlikely that the current step will achieve it so i expect it will continue to see a gradual step—by—step ratcheting. china is also ina step—by—step ratcheting. china is also in a rather difficult place. i think they prefer all things being equal to be cooperative with the us and president trump in resolving the issue but on the other hand, they cannot do anything from their point of view which precipitates an implosion or related issue in north korea are simply wouldn't serve the
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interest either. what's interesting is the question of why these banks have been doing it so quietly went isn't their political capital to be gained if china declared more publicly it is indeed clamping down on north korea through its financial system ? on north korea through its financial system? perhaps, but it isn't really the way the chinese government prefers to operate. what you're talking about would require the over publication of a government standard 01’ publication of a government standard or direct you've entered china likes to do things in a much more subtle and quiet way. what we've heard now is the rumour of an intended policy and actors and sectors have begun to change behaviours. if they can gain the behavioural changes they are seeking without having to leave the regulatory grey zone they prefer to be in, i think they call by the success. be in, i think they call by the success. presumably the amount of money flowing in the system amounts
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toa money flowing in the system amounts to a few million presumably but do you think the north korean businesses for big the chinese banks asa businesses for big the chinese banks as a result willing to give up to placate the americans and of course their trade with north america? well, i think the larger banks that aren't just entered well, i think the larger banks that aren'tjust entered in the bordering provinces would certainly do this. however, the business interest along the border that are going to be tough to dislodge. now in other business news the ceo of us credit reporting agency equifax has pledged to make changes to the country following a massive data breach. it exposed the date of 143 million people which experts believe to be one of the biggest on record. however, the company now faces possible federal investigations and multiple lawsuits. jp morgan's ceo is definitely not a fan of the coin.
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speaking at a financial conference in new york, he called the virtual currency a fraud and that was created out of there. —— bitcoin. he added only criminals and people living in north korea, ecuador and venezuela should invest in it. one bitcoin is currently with worth $43, making it more valuable than gold. after failing to find a buyer, bell pondered the collapse after running a racially charged social media campaign in south africa led by it to be expelled from aep trade body. however, if asia unit will continue to survive, it has separated from the parent company and will continue to operate under the new name of clarico communications. it is the 10th anniversary of the iphone and the latest version of the new screen, camera, no home button by the big pricetag of about $1000. but will it be enough to drive growth at
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the world's biggest listed company? the share price has soared over the past few months and since last december has actually climbed more than 50% and is nowjust over $160 per share. but not everything is well at the tech giant, it has been struggling in china where it is losing market share to competitors. in the last quarter it sells in the country fell about 9.5% to just over $8 billion. but the big question is a great one at a fork is apple innovating fast enough to compete with its rivals? why did you decide? this is a look at the new functions. unlocking it is as easy as looking
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at it and swiping up and, you know, just try to, yeah. 0h, at it and swiping up and, you know, just try to, yeah. oh, oh, oh! let's go to back up here. this is from fixed our labs, to actually set in post them up on top of the sky as you are looking it around you. there is on the day that goes by that we don't think about him. —— is not a day. there you have it but will you buy it? driverless cars now are on their way and we know that autonomous vehicles are being developed rapidly and that they would probably take over from the cars we know within decades. they will probably be a electric cars as well, so how will this change the way we use them, interact with them, and think about them? engineers at the french manufacturer renault has a few ideas which they have been showing off at
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the front foot motor show. in the house of the future which, in many ways, look through much like the house of today in the dining table to the kitchen area and the soft seating and of course over here, the car. yes, i can't in your living room. this is a new concept for renault, as you can see it as a d riverless for renault, as you can see it as a driverless car and the idea is that comes into your house and becomes an integral part of your living room 01’, integral part of your living room or, if you don't want it, it can put itself on the roof or a axis of battery to power your home. the man behind it is the chief designer of renault. good to have you with us. tell me why did you decide to do this? we imagine the future for our customers, for our clients, where ca i’s customers, for our clients, where cars become more autonomous, electric and connected and we wondered what can we do if the future is like that and for the first thing, you could park your car inside because it is clean. second is the car is autonomous it could actually move within the house by
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itself, park itself you don't need a parking outside your home, you can parking outside your home, you can park on the roof. and because it is connected you could actually spends time in yourcaras connected you could actually spends time in your car as you do today, ca i’s time in your car as you do today, cars are perfect place to read, to enjoy music, to spend some time with your kids or your daughter, thought the best conversations i've had with my kids with waller was talking with them in the car so we said if the car becomes an extension of your house, and therefore your life, wouldn't it be the ultimate symbiosis, the concept of this project? thank you very much. this isa project? thank you very much. this is a concept, no one is saying we will be driving cars into our living rooms in the nearfuture but will be driving cars into our living rooms in the near future but it's an idea and it shows how car manufacturers are now looking at different ways in which driverless ca i’s different ways in which driverless cars different from all cars will be integrated into our daily lives. looking at the markets because australian and japanese markets are opening at are rallying, taking cues
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from all streets which hit highs there. the week again there in the mick kaye. that is it for asia business report. welcome back. the un security council are holding an emergency meeting later on wednesday as the number of rohingya refugees fleeing violence in myanmar surges to almost four 100 thousand. -- 400,000. the war of words between washington and pyongyang heats up —— as north korea rejects new sanctions imposed on it by the un, president trump responds by saying they‘ re nothing compared to "what will have to happen". here, the announcement on lifting the pay cap on some public workers was made as official figures showed the cost of living had risen by more than expected in the month to august. the unions point out that any pay rise less than inflation leaves workers worse off. but where would the extra money come from? our business editor simonjack reports. sirens wail. public sector workers have been
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on the front line in more ways than one in recent times. the work of the police during terrorist attacks like this one at london bridge was widely praised, but didn't show up in their pay, which has been in a deep freeze. today's decision to loosen the cap for police and prison officers marks the end of a pay policy that dates back to 2010. that is why the government is asking the public sector to accept a two—year pay freeze. but we will protect the lowest paid. the freeze turned into a 1% cap in 2012. not zero but not enough to keep pace with the private sector or the cost of living. over the last seven years, pay across the board has fluctuated. in fact, in recent months, it has started to edge up. however, those pay rises have been more than eaten up by rises in the cost of living, with inflation retouching a five—year high just today. but, since 2010, public sector staff have been subjected to a pay freeze followed by a 1% pay cap from 2012.
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in more detail, those some have received increments over time, overall pay for these workers has been kept depressed over the last seven years. in total, the government spends around £180 billion in public sector pay — that is 22% of all government expenditure — so any wider loosening of the pay cap will get expensive. the pay cap change today is a relatively small difference for a relatively small group of public sector workers, but if he wants to give significant increases to nurses, teachers and doctors, for example, that will cost him billions. if he wants to spend billions he is going to have to decide if he wants to borrow more or whether the rest of us will pay with more tax. the treasury insists there will be no additional borrowing and these pay hikes will have to come from departmental budgets. so a loosening of the cap won't necessarily mean any release
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of the pressure some public services are under. simon jack, bbc news. pennies here in 50 minutes time for the rest of the news but now, sport today. hello. i'm sarah mulkerrins, and this is sport today, live from the bbc sport centre. coming up: messi's on song for barcelona in the champions league, scoring twice to beat last year's runners—up, juventus. what a game in guangzhou! shangai sneak into the asian champions league semi—finals after going to penalties against evergrande. and we'll be in las vegas, where they are preparing for another huge fight this weekend. hello, and welcome along to the
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programme. so, the european champions league is back, and there were big wins for barcelona, paris st germain, chelsea, and manchester united on tuesday. 28 goals in eight matches. lionel messi scored two for barcelona in their three nil win at home against last season's runners up, juventus. 0ur football reporter, john bennett, has more. barcelona and lionel messi, superb this evening. a brilliant performance.
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