tv Asia Business Report BBC News October 11, 2017 1:30am-1:46am BST
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our top story: hollywood producer harvey weinstein denies allegations of rape. the new yorker magazine has published accusations he raped three women. his spokesperson said he "unequivocally denied" any allegations of non—consensual sex. catalonia's president has signed a declaration of independence but suspended breaking away from spain to give time for dialogue. spain's deputy pm repeated the view that the referendum was illegal. and let's have a look at this video which is trending online. tourists crossing this glass walkway, attached to a mountain, got a real scare. they were tricked into thinking the glass was shattering under theirfeet. the park in china had to apologise for the special effect. that's all from me for now. stay with bbc news. and the top story here in the uk: the uk's leading defence manufacturer, bae systems, says it's axing nearly 2,000 jobs in england.
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most posts are going from its militaryjet business. now on bbc news all the latest business news live from singapore. a new japanese corporate scandal puts a dent in the country's once revered reputation. and it can the sound of music make money in the internet age? we asked the head of china's biggest music streaming service. good morning asia, hello world. this is the bit weak addition of asia business report. i am rico hizon. we kick off the programme with japan, and tokyo stocks have opened lower after a scandal over
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kobe steel shook investors minds. it has been discovered that they falsified information on aluminium and copper parts. you never know how far trouble with spread. in fact, you never know how far trouble with spread. infact, some you never know how far trouble with spread. in fact, some of kobe steel's products and it up in this rocket, adding into space, with a satellite, on tuesday. it all went to plan, thankfully, but it shows the extent of the problem. these materials are used in a lot of products. more than 200 companies are affected, from japan's they must shinkansen trains through to the aerospace industry. manufacturers are trying to make lighter models to meet incremental standards. mazda, honda, toyota, mitsubishi and subaru have all been affected. kobe steel says about 4% of the aluminium and
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copper products it has shipped over the space of the year were falsely labelled to meet customer's expectations. the government has ordered kobe steel to check out any possible safety indications. translation: we have been asked to check for issues. that will be conveyed to end—users. we have asked that together with the customers safety verifications are sped up. but it also raises the question about the way some japanese corporations seem to operate. after all, it follows revelations about other companies. toshiba is still battling the fallout of its accounting scandal. the imf has two
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concerns about the current situation, china and america. despite growth, there are problems. indeed, there are problems. on the surface, the we have a great outlook. this is from the imf world outlook. this is from the imf world outlook that puts out twice a year. 0n the service, great. regway 6% growth this year. up from last year. but behind that slight rise are some worrying factors, particularly for asian economy. —— 3.6% growth. india got a fall of half a percent less than they predicted a few months ago. they are saying that india is suffering from the effects of the monetisation of the currency exchange the issues that it saw there. the issues of the stealth tax as well that was introduced injuly. —— sales tax. but the outlook for
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india is still looking pretty robust. china, however, robust growth on the service, a 6.8%. —— surface. they are warning about this expansion in credit, and send the authorities are really go to have to have a handle on it. the us, though, is interesting, because they have an interesting statement about the united states. they said is more difficult to predict what will happen there in terms of fiscal and monetary policy, a site reference, perhaps, to the drug administration. so they are expecting 4.8% growth in the us, which is far less than the drug administration themselves are predicting. red flagged and the chinese economy. thank you for that. the boss of aly baba has told the bbc that he would not rule anything out when it comes to the company's future. —— alibaba. they have moved into the bricks and mortar market,
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and buying up shops is part of a new retail strategy, as an —— emma system found out. no one knows exactly how rita will look five yea rs exactly how rita will look five years from now. i have my own view that as company use data and technology, and use the given these we are building in many areas, it will look more and more seamless for a consumer to constantly be interacting with the product. —— retail will look. so, through the smart phone, the smart phone because more the foundation, as it is in china, and also in europe. people will find ways to say i have immediate access to see this product physically here, or locally, or accommodation of the two. to what extent is the rule book being ripped
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up extent is the rule book being ripped up and rewritten? you have this tremendous shift, now, from online retailers getting into bricks and mortar. how big shift is under way? it is very good news for retailers in the sense of the incredible technological capabilities of companies like mine and others. —— how big a shift. and the financial strength behind these companies, being able to invest in innovation for retail, including the off—line. this is great news, because most off—line retailers, as i think i said before, they are looking for a way to make up for stagnant growth, oi’ way to make up for stagnant growth, or even negative growth. when you come at it from that angle, you are looking for a solution to a problem you have. that is not how we are approaching it. we see opportunities instead. as we do these things, and
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discover new ways of doing retail, traditional bricks and mortar retail, we will also benefit from that. as opposed to always saying it is asked against them. no, the online companies are now trained to find a way to use that retail space, the physical space, the bricks and mortar space, in a way to help the consumers. a wrong will benefit. china's so—called great firewall, that locks many websites, including facebook and the bbc, also limits the music you can listen to. most people turn to services run by tencent. its music division could be valued at ten billion dollars. but steaming services struggled to be profitable. so we asked the head of tencent‘s music business if they we re tencent‘s music business if they were having the same problem. it isa
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it is a very good start, i would say. it is a mature market. in these markets, the conversion rate is 30% - 30%. so markets, the conversion rate is 30% — 30%. so we're not looking at what it is right now, but looking at the yea rs later it is right now, but looking at the years later in our subscribers. 0ur users are 18—50 years old. —— 20% — 30%. so these teenagers are getting taught about the value of content. everyone is almost giving up the market in china. everything was pirated. no limit on what you do
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get. the chinese government has been helping us in supporting us in cracking down on the in fringe in content throughout many different sites. i am content throughout many different sites. iam not content throughout many different sites. i am not saying that everything was already in a legitimate kind of illegal way, but at least we have sorted out 85%. —— ina at least we have sorted out 85%. —— in a legitimate kind of legal way. china's music student business. let's have a quick look at the markets. most of the asia—pacific markets. most of the asia—pacific market in positive territory, after wall street closed at a record high, with the dow finishing up 70 points. thank you for investing your time.
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sport today is coming up next. let's ta ke sport today is coming up next. let's take a look at our top stories this hour. hollywood producer, harvey weinstein, denies allegations, made in a magazine, that he raped three women. catalonia's leader signs a declaration of independence, but says breaking away from spain must be put on hold to allow for talks. the jury in the case of an army sergeant accused of attempting to murder his wife by tampering with her parachute has been taken to the airfield where the flight took off. victoria cilliers suffered multiple injuries when both her main and reserve parachutes failed to open. emile cilliers denies the charges. duncan kennedy reports. thejury spent the jury spent around four hours inside the base where victoria cilliers took from. the jurors can't be filled for legal reasons, but had been shown in locations that, until now, they have only seen in photos in the courtroom. at each point, this detective explained to them the
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places that victoria and emile cilliers went in the lead up to her jump, when her parachute failed to open properly. you would have seen and heard recordings with marked walking around the hangar and demonstrating. my role is as a guide to point out particular locations. the court has a ready heard that emile cilliers is accused of tampering with victoria cilliers' parachute. the jury were taken to the spot where victoria cilliers landed after falling 4000 feet when her parachute failed to open. mrs cilliers suffered serious injuries but survived. by coming here, the jury but survived. by coming here, the jury will get a much better understanding of prosecution and the defence case and the allocations surrounding arson. the jury was
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shown the toilets where the prosecution say emile cilliers carried out the tampering of his wife's parachute. and jurors were able to take this identical parachute into the toilet to judge the space there. the court has already been shown pictures of the cilliers' kitchen, where the prosecution said emile cilliers tempered with this gas fixture in a separate attempt to kill us why. mr cilliers denies two counts of attempted murder, and a third charge of recklessly endangering life. the jury of recklessly endangering life. the jury will return to court tomorrow. duncan kennedy, bbc news. the scottish government is to set up a publicly—owned, not—for—profit energy company. nicola sturgeon, the snp leader, told the party's conference that the company will sell energy to customers at "as close to cost price as possible". she also said the snp will "always make the case for independence". lots more, as always, on our
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website. and you can get in touch with me on social media. i'm @bbckasiamadera on twitter. you can also find us on facebook. time now for all the sports news in sport today. you've hello, this is sport today, live from the bbc sport centre. coming up on this programme: ronnie is ready for russia! ronaldo's portugal are through to the world cup. tennis's bad boy is at it again — nick kyrgios walks off court, after after losing a first set tie break and sri lanka deliver in dubai with a series victory over pakistan. hi there wherever you are around the world welcome to sport today. let's start right away with one of the most crucial world cup qualifiers in a long time. most importantly for russia's
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