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tv   Asia Business Report  BBC News  May 2, 2018 1:30am-1:46am BST

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severe overcrowding in prisons has been worsened by delays in the legal system and the war on drugs initiated by president rodrigo duterte. manila's city jail was built to accommodate 800 inmates. it's now housing more than 5,000, leading to a tuberculosis outbreak. the most senior roman catholic to be charged with sexual abuse, cardinal george pell, is to face two separate trials in australia. pell, who's treasurer of the vatican, has pleaded not guilty to the charges. and this video is trending on bbc.com. it's the moment a 26—storey building in sao paolo collapsed after being engulfed in flames. firefighters say they managed to evacuate most of the fifty families who lived there before the collapse, but they're still searching for survivors. that's all from me for now. stay with bbc news. and the top story here in the uk: more than 2,500 neurology patients in northern ireland, including children, are being recalled for a case review amid concerns that some may
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have been misdiagnosed. now on bbc news, all the latest business news live from singapore. wall street ta kes wall street takes a shine to apple's latest earnings. demand for the iphone x. and tesla may be losing its spark with investors as they face finance issues. good morning, asia. hello, world. welcome to another edition of asia business report. i'm rico hizon. it's a wednesday. we start with apple. it has itsjuice back, beating march expectations. this comes after a
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challenging period for the silicon valley giant with a week iphone sales. i am joined valley giant with a week iphone sales. iamjoined by valley giant with a week iphone sales. i am joined by my colleague. iphone sales are down but stock prices are up. there are concerns smartphone sales may be too much. according to tim cook, they are seeing strong sales of the iphone x, which is why they posted their best ever march quarter. business is going so well, they have 100 million dollars share buyback and a 16% increase in the share dividends to $13 billion. that is so much to give back to the investors. you will be a happy camper. this is what one a nalyst happy camper. this is what one a na lyst ha d happy camper. this is what one analyst had to say. tim cook seems to have a way add that himself and how he presents numbers. he under promises and overdelivers. that is their mantra. strong growth. 14%
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iphone revenue growth year on year. the numbers that are astounding, the china growth story, very strong numbers anticipated in 12—18 months. a success overall. there are concerns about slowing smartphone sales denting the prices of chip makers and smartphone makers over concerns they will see growth slowed. but we are actually seeing many users in china and japan are ready for an upgrade to iphones. we will see how it plays out in the next few quarters. apart from eve ryo ne next few quarters. apart from everyone is looking at the conference with mark zuckerberg. —— from apple. he says we have control over data and they are launching a dating app. it is interesting. mark
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zuckerberg said it himself. they had a really intense year. they are under a lot of scrutiny because of the data breach. now they are giving control back to you users with extra privacy, allowing you to dictate what information is shared with third—party developers. as for the dating application, they are going into a new area of business which is causing a lot of fear with tinder and 0kcupid, all owned by the same company, which saw a 22% drop in their share price, the biggest drop in history. we facebook entering the dating scene, it may be tough to find more singles. it shows the influence of facebook in social media. thank you for the update. turning to china. the world's second
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largest economy, quite a transformation. a place for designer goods and other luxuries. this report has identified a dozen cities on the mainland dubbed the china12, tipped to become the next hubs of innovation and influence in libel action. shenzhen is a city to watch. they could play a critical role in how developers make investment decisions on the mainland. earlier, i spoke to a guest and ask about the trends in shenzhen. is it because it is new hong kong? the combination of the entrepreneurial culture, access to hong kong, of course. the development of financial services. the relatively good quality of life.
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that has meant it is a natural choice of destination for businesses, for individuals, who are looking to convert ideas into the next generation of bucks and world beating firms. —— products. that is the one city to watch, shenzhen. what about chong ching? the one city to watch, shenzhen. what about chong ching ?|j the one city to watch, shenzhen. what about chong ching? i think that they continue to have impressive engines of growth. it is one of the world's most dynamic economies. nonetheless, it still needs to work ha rd to move nonetheless, it still needs to work hard to move up the value chain which other cities have done, such as hangzhou, through growing and
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attracting talent, tackling pollution, nurturing the next generation of business is. what about the major cities of beijing and shanghai? i they now overpopulated, overdeveloped?” think the shanghai and beijings of this world, they are globally connected, gathering the deepest talent pools. they are quite advanced on their economicjourney and we can see it as an development is happening to the real estate markets there. joining us earlier from london. tesla has never turned toa from london. tesla has never turned to a profit. that is expected to change when the company reports earnings today. historically, that has not stopped investors from
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pouring billions into the company. why is that mostly belief in elon musk. the electric car maker tesla has a lot of true believers. but even among them, jen stands out. after encountering the model s at a whiskey show, she and her husband fell in love with it. i wanted to get all of them. it was a long wait on the list to be nearly two years. anyone who knows me knows i would have waited ten years for this. very few companies have such loyalty. 0ne of the biggest strengths of tesla is changing enthusiasm into cash. that has attracted investors eager to be
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pa rt has attracted investors eager to be part of the next big tech win. but the problem for tesla is it is also a car company, the problem for tesla is it is also a carcompany, and the problem for tesla is it is also a car company, and they need a lot of cash. even though tesla has nearly $851; million in customer deposits and billions more from bond holders, this chart of the free cash from tesla shows it is burning through cash reserves as it struggles to keep up with ambitious manufacturing targets. that has people betting against tesla, saying they could soon file for bankruptcy. stock will fall significantly. capital markets were close to tesla entirely. then it isjust capital markets were close to tesla entirely. then it is just a capital markets were close to tesla entirely. then it isjust a matter of time given losses and expenditure needs. suppliers will ask to be paid and they will file. more investors
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are betting against tesla than any other stock, with stocks falling more than a quarter since september. elon musk has lashed out against those with concerns, saying they will be profitable later this year. the question is can tesla accelerate its profits as fast as its cars? nissan motor sales plunged 28% in april. car sales fell 35%. nissan motor sales plunged 28% in april. carsales fell 35%. even sales of the popular suv model, rogue, they went down 15%. they pulled back on fleet volume, contribute into lower performance. the maker of toblerone and 0reo are
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tasting sweet profits, they went to $7 billion in the first three months of the year. the company gets most of the year. the company gets most of its profits from europe but is seen of its profits from europe but is seen growing demand in latin america and asia. —— seeing. asian markets. a mixed bag. moving sideways for most of the markets due to the close on wall street overnight. the nikkei 225 down by two and the all 0rds down by 13 and a half. thank you for investing your time with me. sport todayis investing your time with me. sport today is coming up next. before that, the top stories. the philippines war on drugs has led to severe overcrowding in manila's city jail, the prison meant for 800 people now houses more 5,000. armenia's protest leader says a
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decision by parliament to block his bid for prime minister is a declaration of war on the people. he's called for his supporters to begina he's called for his supporters to begin a general strike. a court in manchester has heard how four children died in a fire last year after the house they were sleeping in was petrol—bombed. the siblings, all aged between 3 and 15, were trapped upstairs as flames swept through their home near sa lfo rd. zak bolland, david worrall and courtney brierley all deny murder, but mr bolland has admitted to reckless arson. 0ur correspondent, judith moritz, was in court. little lia pearson was the baby of the family. giggling here with her brother, brandon. and here he is again playing in the street with seven—year—old lacey. they all looked up to their teenage sister, demi. the four children were all asleep at home last december when fire swept through their house. it's said that petrol bombs were thrown through a smashed back window. flames took hold at the bottom of the stairs and the children were all trapped in their bedrooms
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on the first floor. their mother, michelle, is still in hospital with terrible injuries. and has recently learned that the four children were killed. surrounded by security guards, zak bolland and his girlfriend, courtney brierley, are charged alongside theirfriend, david worrall. the court heard that the fire was the ultimate consequence of a tit—for—tat feud between zak bolland and the child ren's brother, kyle pearson. the two had smashed each other‘s windows and threatened each other with weapons. and the prosecution say that zak bolland's threats to set fire to the pearson house had prompted michelle pearson to call the police and the fire service to block up her letterbox to stop petrol being poured through. officers were called to the house for hours before the attack at the jury heard that zak bolland had been there making the family barricaded themselves inside and went back to bed. the fire started later that night. 17—year—old kyle pearson survived
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and gave evidence via video link. he said he woke up to hear his mum shout, "fire, fire!" and having jumped out of the window, looked back to see his sister demi coughing in the smoke before disappearing from view. zak bolland alone has admitted reckless arson. he and the other defendants deny other charges including murder. judith mortiz, bbc news, manchester. and you can get in touch with me and most of the team on twitter. i'm at bbc kasia madera. as always, there is much more on the website. for now, time to bring you up—to—date with all of the sports news. here's marc edwards. hello, i'm marc edwards, and this is sport today, live from the bbc sport centre. coming up on this programme: real madrid go marching on in europe. of course they do. the reigning champions cling
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on to beat bayern and reach the final of the uefa champions league. the dream makers. we catch up withjurgen klopp as he attempts to steer liverpool to a first champions league final in 11 years. and ding junhui has work to do in a suprisingly one—sided quarter—final against barry hawkins at the world snooker championships. well, well, well. by hook and by crook, real madrid just get the job done. zinedine zidane's side are into their fourth champions league final in five seasons, after seeing off bayern munich 11—3 on aggregate in a thrilling match at the bernabeu. joshua kimmich had given the visitors the lead afterjust six minutes, before a karim benzema double looked to have made the tie safe. bayern then equalised to make it 2—2 on the night, but madrid clinging on, and in the end given a huge helping hand by their opponents, as our football reporter rob schofield explains.

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