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tv   Asia Business Report  BBC News  April 16, 2018 1:30am-1:46am BST

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our top story: the us has threatened new sanctions against russia over its support for president assad. the move, which follows the western air strikes on syria, will target russian companies supplying damascus with chemical weapons capability. meanwhile, president putin has warned that any further western missile strikes against syria would cause international chaos. hundreds of firefighters are tackling a large bushfire burning out of control in the southern suburbs of sydney. police say the blaze, which has forced many residents to leave their homes, may have been started deliberately. and this video is trending on bbc.com. braving the dark and the danger of india's record—breaking fairy cave, with tunnels stretching nearly 25 km. and the top story here in the uk: the labour leader, jeremy corbyn, has questioned the government's decision to launch air strikes
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on syria, saying he would only consider military action with the backing of the un. now on bbc news, all the latest business news live from singapore. the advertising king abdicates. sir martin sorrell abruptly resigns from the advertising it has sent shock waves through the industry. he resigned abruptly over the weekend. what basically this is coming down to as —— is an investigation that was done by angkor wat himself and it was looking at allegations of personal misconduct. few details have been released but they say that the allegations did not include a mouth that were material. the sums
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involved were less than 1 million. he previously denied the allegations. he is credited with shaping the ad industry. he was the head of the comfy for 33 years. wpp at the time was making shopping baskets. he turned it into one of the biggest advertising giants in the biggest advertising giants in the world, with over 200,000 staff last year and a profit of about $3 billion. but he said that it was not a pretty yea r. billion. but he said that it was not a pretty year. for 18 months that we have experience in the past, the share price had fallen about one third as the company struggled to compete with digital rivals like google and facebook, as well as lower revenue from companies like procter & gamble. as for the company, the next person in charge certainly faces many challenges. right now the wpp chairman has taken
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the role of executive chairman until a replacement can be named. thank you so much, and we will see what kind of impact this has on the overall media and advertising industry. the us has added india to its list of countries that could be designated currency manipulators. us treasury department's designated currency manipulators. us treasury department‘s semi— designated currency manipulators. us treasury department's semi— annual report also has china, japan, germany and switzerland on its monitoring list. this list places countries on notice that their currencies and other economic policies have put the us at an unfair disadvantage, and that they could be close to triggering sanctions. china's currency policy us debt holdings and economic growth will be in focus this week. on tuesday the world's second—largest economy announced its latest gdp numbers, and earlier i spoke to an
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a nalyst numbers, and earlier i spoke to an analyst who said chinese growth slowed in the first three months of this year. we expect, and the market expect, it to continue to maintain quite strong, but there will be some early signs showing a slowdown as the housing market escalates. what kind of slowdown are you expecting? very moderate, 6.7% for the first quarter, so it is almost not noticeable. whether it be 6.7, 6.8 or 6.9%, very marginalfor the chinese economy given how large it is. will this basically support the case for more appreciation of the yuan against the us dollar, given that there is a potential trade spat between the us and the mainland? well, currently the yuan has been appreciating over the last year, and it has so far not really affected the economy. and policymakers' thinking on other topics, like the
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policies doused with the us and appreciation of the yuan will actually remove one more factor angering the us. additionally, domestic factors include beijing being concerned about capital outflows, which was a big issue in 2016. i think that keeping the currency relatively strong avoid that problem. would you like the chinese central bank to appreciate the yuan even further against the dollar? i think they don't want to keep it too much stronger, but they will very much be driven by market sentiment, which is how much the dollar will depreciate or appreciate. it is no secret that pa rents appreciate. it is no secret that pa re nts wa nt appreciate. it is no secret that parents want the best for their kids, so the education industry is valued at $6 trillion globally and growing. 0ne firm, crimson education, is giving children as young as 13 a jumpstart on their
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education. the pricetag is $3000. i spoke to its co—founder. education. the pricetag is $3000. i spoke to its co-founder. all our programmes are personalised, so we assist with leadership and psychometrics, and give them a team of mentors based on what they need. so it varies a lot depending on where they are applying for and the complexity, but that is the general range. $3000 is a lot of money. it goes to show that only the wealthy have access to good education. we have access to good education. we have access to good education. we have a really good financial aid programme, so students from any background can apply for subsidised tuition or pro bono work. and many education systems have huge financial scholarships available. so many are making investments in crimson education with the goal of getting into a good university. what is your success rate, and what about stu d e nts is your success rate, and what about students and parents who are disappointed with the service that you offer? what is the way out? so
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will average a huge backlog of previous data points, as well as our strategist‘ deep experience of each student, to help make recommendations. so the student is dissatisfied with their tutor we are happy to switch for one more suited. so we rigorous approach to the selection process and that of part of what we do. you started this business when you were 18 years old, fresh out of high school, and in your first year of university, or what lessons have you learned from being in this business at a very young age? i think the first thing i learnt was that age was not a measure of ability. for many entrepreneurs they get anxious about age as a sort of barrier to stopping the ideas coming to fruition. i have learnt basically that with amazing advisers, support and employees and loyal customers, you can have a tremendous impact on the young age,
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and that philosophy is what we take to our students. jamie beaton from crimson education, foosball tables, beanbags and free food are staples of companies trying to emulate the success of google and facebook. and how does the bbc stack up? my colleague took stephen hill from a design company on an office to find. fantastic. tell me what you think. so it is great to see that you have an open plan office. everybody can communicate, but of course it can make things a bit noisy, and it can create a bit more stress. you have these islands where people can talk face—to—face, but they are all the same. you don‘t have the flexibility that you sometimes need. but you do
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have a fantastic view. let's take a look at some of the other officers you have worked on for really big companies, and grab a coffee. what have you done here? well, this is when we held vodafone moved their office from london to dublin. we had to get everybody comfortable, everybody ready, to start a new adventure. but this doesn't look like the offices of a major telco. exactly. we wanted it to feel like home, and so we created a kitchen at the centre, and then we created all the centre, and then we created all the different experiences around it. so many different ways to work, so many different ways to be engaged, to be creative, to be energetic, and to be creative, to be energetic, and to feel like you‘re part of a brand and part of a family. which company is this? so this is different. this is this? so this is different. this is for infosys, and we wanted to be able to engage with the technology
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of the future. what i find interesting is there are no logos anywhere. because it is not about the logo, but what they do, and what matters. so if i were to take one design suggestion and bring it to my boss, what should it be?|j design suggestion and bring it to my boss, what should it be? i think just a really creative space, that you can own yourselves, that you can customise. it is because this is where you spend so much of your time, andi where you spend so much of your time, and i think that will really give everybody a boost when they are in the office. great, i will ask the boss. and for me, it is the people that you work with, not the office design, that makes you happy! and the markets were pricked to react to the markets were pricked to react to the air strikes on syria over the weekend. it is flat, the nikkei and the all 0rdinaries basically not moving from last friday‘s close. thank you for investing your time with us. i am ricon hizon. sport is
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up with us. i am ricon hizon. sport is up next. the top stories this hour: more fallout after the air strikes on syria, as the us threatens new sanctions against russia over its support for president assad. hundreds of firefighters in australia are battling a huge bushfire burning out of control near sydney. the founder and chief executive of the world‘s largest advertising group, wpp, sir martin sorrell, has resigned less than a fortnight after it announced he was being investigated for misconduct. he denies any wrongdoing. our business editor simonjack explains. advertisers want you to remember the products they‘re selling, not the name of the company that made the ads. many of the biggest ad agencies, marketing companies and pr firms in the world are owned by an even bigger one. it is called wpp, and was founded and run since 1985 by this man, sir martin sorrell. he gobbled up dozens of businesses, creating a £15 billion global giant with enormous influence.
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sir martin has defined british advertising for almost 30 years as a businessman. so his departure has caused an enormous shockwave through the industry. a big figure on the world business stage, his views were sought—after. .. if the eu does not give on that, then our access... ..and he was happy to oblige. after 33 years at the top, he stepped down with immediate effect, after recent accusations he may have missed used wpp funds — claims he denies. meanwhile, upstarts have changed the industry with more advertisers going direct to facebook and google rather than via wpp agencies. the company has lost a third of its value, prompting this farewell statement. his critics say he ran the company like a private fiefdom, when he actually owned less than 2%.
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a pay packet of £70 million in 2015 drew outrage from politicians and rebellion from shareholders. some of whom told the bbc this weekend it was time for change. for many in the world of advertising, sir martin sorrell was more of a money man than an ad man, treating it like a professional service rather than a creative industry. but he was a powerful advocate for it, and in his departure, british business has lost a true giant. simon jack, bbc news. two teenagers have been arrested after five people were struck by a car in essex on saturday afternoon. three people remain in hospital following the incident in canvey island. a 17—year—old boy and an 18—year—old man, both from the area, are being questioned by essex police on suspicion of causing serious injury by dangerous driving. a group of mps, peers, business leaders, and celebrities have launched a campaign to give the public a vote on the final brexit deal. those backing the people‘s vote say it wouldn‘t be a rerun of the referendum, but the public must be given the change to either
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accept or reject britain‘s deal with the eu. time now for all the sports news in sport today. hello. this is a sport today light from the bbc sport centre. coming up on the programme, manchester city are the english premier league champions. it is their first title under pep guardiola. that is down to manchester united byes surprise defeat to west brom, the loss handing ctb title. and a man also enjoying the sweet taste of success, evenif enjoying the sweet taste of success, even if it is from a shoe, daniel ricciardo wins in china. banks arejoining ricciardo wins in china. banks are joining us today. manchester city are the english premier league champions. they secured their first title under pep guardiola after manchester united wa nt to guardiola after manchester united want to west brom. it is a season
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that has seen city dominate as the runaway leaders throughout. wadi‘s side beat tottenham 3—1 yesterday and remained on course to break several records in this stellar season “— several records in this stellar season —— pep

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