tv Asia Business Report BBC News January 24, 2018 1:30am-1:45am GMT
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president trump says he's not expecting a trade war with china despite new us import tariffs that target asian manufacturers. the tariffs on washing machines and solar panels are part of mr trump's "america first" policy to protect local industry. china and south korea are among those unhappy at the move. the us attorney—general, jeff sessions, has become the first member of president trump's cabinet to be questioned by the special counsel investigating alleged russian interference in the presidential election. and this video is trending on bbc.com. it's a timelapse of the philippines‘ most active volcano, mount mayon — which has been spewing ash on local communities. there are fears of a major eruption after two weeks of activity. that's all from me for now. stay with bbc news. and the top story here in the uk. the foreign secretary, borisjohnson, has been rebuked by the prime minister and other cabinet colleagues after saying
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the nhs should be given extra money. the nhs should be -join the states? the - states? prime without the united states? prime minister narendra modi tells the world economic forum that india is open to business. good morning, asia. hello, world. glad you could enjoy and dashed glad you could join us for another exciting addition of asia business report. 11 countries are aiming to form an asia—pacific trade pact. they have all reached a deal and will be signing a final agreement this march in chile. also
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called the tpp ii, agreement this march in chile. also called the tpp 11, it does not use include the united states after donald trump withdrew. timothy mcdonald is in the newsroom. how significant is the tpp without the united states? the answer is much less significant. given that it is in fact the biggest economy in the world. you are talking about a market of 300 million people. of course, by any objective measure, it is less significant. that said, us wheat growers have expressed concern about not being included. canadian auto workers are worried about being pa rt auto workers are worried about being part of the deal. it is also a very interesting snapshot of where things are at with trade negotiations because on one hand, we have this agreement, which is about come off. we have the president, donald trump, slapping tariffs on chinese solar
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and large family washing machines and large family washing machines and on top of that, there is an extremely vigorous round of nafta negotiations going on. that is going to be made even trickier by the fact the us has imposed tariffs on canadian aerospace company bombardier. the australian prime minister malcom turnbull said that all would be open for the us should it ever decide tojoin all would be open for the us should it ever decide to join but it's difficult to see that happening at least within the next three years. the other members want to prove they can do it without the united states. this agreement comes as world leaders gather in davos. prime minister narendra modi is the first indian leader to attend in 20 years and it's one of the fastest growing economies in the world. the government expects growth of 6.5%
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this fiscal year while growth is expected to increase next year. despite some economic rot —— despite some economic reforms and the goods and services tax. narendra modi is facing a huge challenge of the wealth gap. 1% facing a huge challenge of the wealth gap. i% owned 60% of the wealth, a gap second only to russia. he opened a form with some tough on trade. translation: forces of protectionism are raising their heads against globalisation. their intention is not only to avoid globalisation themselves but they also want to reverse its natural glow. the result of all of this is that we get to witness new types of tariff and nontariff barriers. bilateral and multilateral trade agreements and
quote
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negotiations have come to a kind of standstill. iamjoined by i am joined by our business correspondence. what does this mean for indian‘s relationship with the rest of the world? the comments of narendra modi really echoed what china's president said last year at davos as well. he tried to position india asa davos as well. he tried to position india as a counter to the us and china. he brought up a lot of things including terrorism and climate change and of course protectionism as we heard. he went after china and blues alluded to its hunt and natural in africa. and its relationship with pakistan. but really, his speech was aimed at one country. as we heard, non— barrier
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ta riffs country. as we heard, non— barrier tariffs are country. as we heard, non— barrier ta riffs a re really country. as we heard, non— barrier tariffs are really affecting domestic business in india, they are affecting the price of imports. so the speech of narendra modi was really in trying to reduce that. that was affecting investments, business. indian investment could really help that. he also wanted to pitch india as an investment destination. he quoted scripture that said the world is one big family and we need to bridge those gaps rather than break them down. thank you so much for that update. stating with india. 0ver thank you so much for that update. stating with india. over the past few years, the country has emerged
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asa few years, the country has emerged as a fierce battleground for international technology companies. amazon, google, facebook, uber, all wa nt amazon, google, facebook, uber, all want a slice of a promising market. shelling out $12 million in a little—known start—up. we find out what caught google's interest. at this time last year, this 33 wrought was staring at a crisis. his app based servers had started off well. the ship professionals used macro free —— is dunzo to so many things but two yea rs dunzo to so many things but two years on, he was struggling to pay his 1500 bikers. that is when google came calling. it's been tough people invest in. they will all about
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solving a problem. with almost 500 million users, india is the world's second largest on line market and is growing. global giants like amazon and ali barba realise the potential in india and with an investment in a home—grown start—up like dunzo, google is sending a clear message that it google is sending a clear message thatitis google is sending a clear message that it is here to stay and it can be more than just a search engine. to do that, google is going beyond the virtual world into the real world, by allowing customers to search and then purchase within its ecosystem. a number of companies are doing this like in many markets. we had done a number of investments like this. we tend to look at, are theyin like this. we tend to look at, are they in the right space, do they have the right product? in this
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case, we were really excited by all three factors. the deal has changed the fortunes of those working for dunzo whose regular income and job security are invaluable to them. are you feeling cold? and for dunzo customers like this woman, it is a service she has come to rely on, especially on days when the office is cold. it would have taken me an hour to get my jacket is cold. it would have taken me an hour to get myjacket but i got it in ten minutes. dunzo serves almost 3500 customers every day and is planning to expand. you can't put a price on convenient and that is something google has realised is the key to getting a foothold in the indian market. investigators in the united states are investigating the crash of a tesla vehicle with a fire truck
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while driving in semiautonomous mode. it's the second time a crash may be linked to autopilot. it highlights some of the concerns with the technology but the chairman of nissan and mitsubishi motors says despite the worries, autonomous driving will be here very soon. this is going to happen in the next 5—6 yea rs, is going to happen in the next 5—6 years, gradually. this is something on which we are working very hard. it is development to put this technology into the car. a lot of announcement made by many carmakers. we wa nt announcement made by many carmakers. we want to see who is going to come to mass market this technology. 0bviously today, we are the largest producer of electric cars in the world. we have the intention to be in between the first carmakers to bring autonomous and connective ca rs. bring autonomous and connective cars. the us senate has confirmed joe rowen powell as the next head of the central bank, succeeding janet yellen. —— joe
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the central bank, succeeding janet yellen. ——joe powell. he will the central bank, succeeding janet yellen. —— joe powell. he will hold thejob forfour years. and before we go, let's have a look at the markets. as you can see, most of them are in negative territory. this is after the dowjones industrial average finished in negative territory overnight. thank you to spending time of us. president trump has denied that new us import duties targeting mainly asian companies will spark a trade war with china. the us attorney—general, jeff sessions, has become the first member of president trump's cabinet to be questioned by the special counsel investigating alleged russian interference.
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the trial of darren 0sborne, who's accused of driving a van into a group of muslims outside a mosque in north london, has heard that he received direct messages from far—right groups before the attack. 0sborne denies one charge of murder, and one of attempted murder. 51 year—old makram ali was killed in the incident injune last year, as our home affairs correspondent daniel sandford reports. the seconds just before a large white van, travelling at speed, smashed into a crowd of muslim men marking ramadan lastjune. it was the fourth attack last year, and the first to target muslims. the prosecution say that in the previous fortnight, the man on trial for the attack, darren 0sborne, had searched dozens of times on the internet for ultra nationalist groups and stories about terror attacks, like the manchester bombing.
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the jury heard that in the 15 days before the attack, darren 0sborne received two direct communications from far—right leaders. a direct message on twitter from the deputy leader of britain first, jayda fransen, and a note from tommy robinson, one of the founders of the english defence league, in which he talked about a nation within a nation forming beneath the surface in the uk. a nation based upon violence and on islam. 0n the morning of the day before the attack, 0sborne had hired a large box van from a local rental company. and that evening, he sat down in his local pub in cardiff with a pen and paper. the prosecution say that's when he wrote a note, later found in the van, which talks about "feral, inbred, raping muslim men, hunting in packs." callum spence, a serving soldier, was in the pub. he told the jury that darren 0sborne said to him, "all ourfamilies are going to be muslim." and then, "i'm going to kill all muslims, i'm going to take things into my own hands."
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less than 28 hours later, the van darren 0sborne hired killed makram ali and seriously injured several others. he denies murder and attempted murder. daniel sandford, bbc news, at woolwich crown court. you can get in touch with me and most of the team on twitter. but now, sport today. hello, i'm nick marshall—mccormack and this is sport today, live from the bbc sport centre. coming up: back in the swing. the 2016 champion anjali kerber thrashes madison keys to make the australian open semi—finals. back in the swing. after 12 months out of the game tiger woods is ready for another comeback. and commissioner goddell gives us his insight into the nfl‘s
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kneeling that knocked national pride. even though we didn't disagree with the form of protest, we were forced to listen and really understand them and that doesn't happen very much in oui’ and that doesn't happen very much in our society. hi there wherever you are around the world, welcome to sport today. former champion angelique kerber stormed into the semi—finals of the australian open with a 6—1, 6—2 demolition of us open finalist madison keys on wednesday. the german 21st seed took just 51 minutes to crush the american 17th seed and will face either world number one simona halep or sixth seed karolina pliskova for a place in saturday's final. watching that match and still in awe of that performance is
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