tv Asia Business Report BBC News March 23, 2018 1:30am-1:46am GMT
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i'm sharanjit leyl with bbc world news. another sacking in the white house. president trump has named john bolton as his new national security adviser. he'll replace general hr mcmaster in the latest change in the administration's personnel. the prospect of a trade war between the us and china is looming. and this video is trending on bbc.com. tests have confirmed this small 15—centimetre—long skeleton found in chile in the atacama desert in 2003 is not, as some believed, an alien. dna tests now confirm it belonged to a newborn indigenous girl with genetic mutations. that's all from me for now. stay with bbc news. and the top story here in the uk: eu leaders have agreed with britain that russia's likely to be behind the nerve agent attack in salisbury. now on bbc news, all the latest business news
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live from singapore. a steep drop for us stocks overnight on fears of a trade war as president trump slaps new tariffs on chinese goods. and recruiting with the help of artificial intelligence. will this be a game—changerforfuture companies and potential employees? good morning, asia. hello, world. welcome to another edition of asia business report. i'm rico hizon. it's a friday. glad you could join us. it's a friday. glad you could join us. we start the programme with the us. president donald trump strikes again with steep trade tariffs on china. donald trump said he viewed the mainland as a friend but
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sanctions were needed to counter intellectual property theft costing america hundreds of billions of dollars in lost trade each year. up to $60 billion worth of goods will be affected by the new tariffs each year. there is a long list of products which could be impacted. the final list is due within 15 days of the president's announcement. us consumers may end up paying more for those goods from china. beijing has responded, saying it is considering ta riffs responded, saying it is considering tariffs worth up to 3 billion us dollars on a range of bucks coming in from the us, including pork, fruit, and wine. —— products. in from the us, including pork, fruit, and wine. —— productsm in from the us, including pork, fruit, and wine. -- products. if you look at how wall street reacted the romance flourishing between the white house and wall street is on the rocks. with a stroke of his pen, donald trump said the market down over 700 points. all of the constituents of the dow ended the day in the red. leading them was
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caterpillar, which sells equipment to china, and boeing, whichjust signed a deal which could be in jeopardy. these multinationals made all the stocks lower as everyone holds their breath, waiting for the retaliation that china has now said it will eventually, when we have details of us sanctions, it will retaliate in kind. everyone in wall street is waiting. investors are worried and the market is reacting asa worried and the market is reacting as a result. john miller in new york on the us market for. the american apparel and footwear association represents more than 1000 brands. the chief executive is not optimistic tariffs will achieve their desired effect. if we could vote like the stock market voted today, we would vote "no." it is not a good thing, especially for the industry. you do not fight
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intellectual property by putting on tariffs. it does not work and it is not a good idea to pick in our industry, seriously, believe it or not, 51% of all tariffs collected come from our type of products. this would be devastating if you put another 25% on top of it. it makes no sense. it is the wrong strategy to put bite your president says the us is retaliating for years of alleged property theft and unfair competition from china. —— strategy. we will see a level playing field with the starace. one and one is not a lwa ys with the starace. one and one is not always two. yes, we have an issue with intellectual property with china. who will pay the tariffs? american consumers. this will not help us. we were big onjobs and jobs and jobs. it helped no one. a1%
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of all apparel in the us comes from china. 72% of all footwear. 84% of all accessories. you will tax that ain? all accessories. you will tax that again? what, are you kidding?! some examples. you mentioned a family of four will be charged as much as 500 us dollars more a year on clothes and shoes. can you give more specific examples of what will cost more? everything will cost more! look at this. the average american statistically biased eight pairs of shoes and 68 garments, they will all go shoes and 68 garments, they will all 9° up shoes and 68 garments, they will all go up in price. —— buys. $500 was the best number we could figure out but it could be much worse. it is a bad idea and not something we are proud of. we would like to find another way to solve the intellectual problem. this is not the way to do it. from washington, dc. also today, us aluminium and steel tariffs will be coming into
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effect. vitamin trump administration has said the eu and some other countries will receive a temporary exemption. —— the donald trump. six other countries, including australia, will be exempt. shifting the attention to the first big tech ipo for the year. dropbox will be floated. it allows users to keep data like documents and photos and remotely access them over the internet. the cloud storage market last year was worth a little more than 25 billion us dollars. by 2020 two, it is expected to grow to more than $92 billion. —— 2022. we were told earlier whiny the industry is seeing excellent growth. —— why. told earlier whiny the industry is seeing excellent growth. —— whym isa seeing excellent growth. —— whym is a huge industry. people are making the infrastructure behind the cloud. all of the middleware making
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it possible. and then you have salesforce and dropbox. and then telecom companies moving a lot of their recruitment from black boxes and software onto the cloud, to save money. the buzzword in the technology space right now is artificial intelligence. what are the synergies between a! and the cloud? they are buzzwords. to make ai intelligent, you need data and computing power, which cannot be done on a phone, on a laptop. you can doa done on a phone, on a laptop. you can do a little bit, but more effectively and quickly in the cloud. how important is asia for the cloud. how important is asia for the cloud business? fundamentally, asi said, alibaba and others are doing well, building e—commerce in the cloud, access, storage. it makes
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sense to have information stored outside of a local hard drive because it can fail. you can get! tera byte because it can fail. you can get! terabyte of storage for less than ten us dollars a month! a lot of potential for the cloud industry going forward. what is your biggest weakness? where do you see yourself in five years' time? we have been their tackling awkward job interview questions across a panel of strangers. that could be on the way out with a little help from artificial intelligence. we spent some time in the brave new world of ai recruitment in this report, future of work. i am gabriela... this is a company in salt lake city which takes video applications and uses algorithms to look at possible
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hirees. i am passionate about working with people and the company. it requires diving into a bit of role play which some might find difficult. what is it looking for? it is looking for a verbal number, a tag of the data. is more successful people have that eye movement, we will be good. that isjust one of several ai recruitment companies that have their approach will not only make it easier to handle large numbers of applicants quickly but will also remove the subconscious human bias in that process. one company here in san francisco is helping recruiters find people regardless of gender, race, background. in fact, regardless of gender, race, background. infact, it regardless of gender, race, background. in fact, it is helping them look for people not even looking for a position at all, at least not yet to be in the future, you will not look for a job, a job or look for you. public services are building up profiles of people in the workforce. a huge data base of
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expertise. where it gets interesting is with the product, envoy. looking at this huge data set, we can see indicators that may suggest people are ready to make a change, it could be based on tenure at a role, events ata company... be based on tenure at a role, events at a company... but at nearby sta nford at a company... but at nearby stanford university, there are concerns this is not the simple solution they would have us believe. this woman is a data scientist. she is writing a book on the concerns about big data a king real decisions. the problem with this data is it is historical data. it is data is it is historical data. it is data from the real world which has been shaped by existing social structures. that means that the training data itself shows patterns of discrimination. of course, what robots cannot yet do is replace the value of human interaction. that might one day change as well. bbc news, silicon valley. the future of
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work in california. before we go, a look at the asian stock markets. currently, they continue to fall in mid—morning trade. the nikkei 225, a steep drop of 3.8%. the hang seng index, 11110 points down. the all 0rdinaries index, down by a huge 1.8%. this is because us share prices plunged overnight after president donald trump put tariffs of up to $60 billion on china. thank you for watching. goodbye for now. the top stories this hour. trump replaces us national security adviser, hr mcmaster, with bush—era defence hawk, john bolton. the us president has initiated punitive measures against china in retaliation for what he calls the theft of intellectual property. a memorial service has been held in memory of the five people killed in the westminster terror attack a year ago.
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the attacker khalid masood, who also died, drove into pedestrians on westminster bridge, before stabbing pc keith palmer outside the houses of parliament. vicki young looks back at the day. a year ago today, on this estate and on westminster bridge, we were visited by what i regard as evil. senior politicians and faith leaders led tributes today to the five victime of the attack. westminster fell silent in their honour and remembered the shocking events of a year ago. the fear as khaled massoud ploughed his car into pedestrians the panic as people fled to safety. pc keith palmer was fatally stabbed as he stood on duty protecting parliament. one of his colleagues recalls the moment it happened. mass confusion, really. is eventually one of my friends came over and said, who is it,
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who is the officer on the floor? he said, it is your friend keith. and — well, terrible. a conservative minister had been among those desperately trying to save the officer's life. you rack your brains as to what more you could have done and should you have done things differently? there are all sorts of things you torment your mind with but you can't. you have to understand everybody that i think did their utmost on that day and it's very, very sad. romanian tourist andreea cristea also died in the attack. her family are still struggling to cope with the loss. there are moments when i pick up the phone to call her or write on messenger. we spent all our time together and now all of this doesn't make any sense. in her tribute, the prime minister
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said this was a day to remember those who were lost but also to defy those who sought to silence our democracy one year ago. vicki young, bbc news, westminster. a look back at that tragic day. you can get more on our website. and now for the sport on sport today. all the headlines at the top of the hour. this is sport today, live from the bbc sports centre. coming up on this programme: the new zealand captain notches a century as the hosts extend their advantage on day two of
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the opening test against england. lewis hamilton predicts a tough defence of his formula 1 world title with the new season getting this weekend. and gareth bale scores hat—trick against china in a 6—0 victory, as he becomes the record welsh goalscorer. hello there, and welcome to the programme, where we start with the cricketing news that the new zealand captain has become the new zealand captain has become the highest ever century maker for his country, notching up an 18th test century against england in auckland. having started the day with a lead of 117 runs, the black caps have moved to 197—3, a lead of 139. rain has. play in the last five minutes, coming less than an hour after resumption —— rain has stopped play. they lead on the
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