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tv   Asia Business Report  BBC News  May 8, 2018 1:30am-1:46am BST

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a total of 35 structures, mostly homes, and it is threatening hundreds more. new fissures and vents opened in the leilani estates area of hawaii's big island. the lava is coming from one of the world's most active volcanoes, kilauea, which has been in constant eruption for 35 years. donald trump says he will announce on tuesday whether the us will pull out of the 2015 iran nuclear deal. britain, france and germany have urged the president not to abandon the plan. and this story is trending on twitter for the past couple of hours. melania trump has launched a campaign to teach children the importance of social, emotional and physical health. she announced the initiative, called "be best", at the white house. one focus will be efforts to stop online bullying. that's all from me for now. stay with bbc news. and the top story here in the uk: a teenager has appeared in court in northern ireland charged with causing grievous bodily harm,
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after a woman was attacked with a cordless drill in the town of strabane. it is being treated as a hate crime. now on bbc news, all the latest business news live from singapore. as the tough talk on trade between the us and china continues, has had any the us and china continues, has had a ny effect the us and china continues, has had any effect on exports? we will watch as china unveils official trade numbers. and the only female trader on the new york stock exchange floor tells us how she has made it in a male dominated world. good morning, asia, hello, world. it is a tuesday. glad you could join us for another exciting addition of asia business report. i'm rico hizon. we start off with china, and the mainland is
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releasing its trade balance for the month of april, being watched closely in light of trade tensions with the united states. economists expect a trade surplus of nearly 28 early in dollars last month. exports are expected to grow 7.5% in april after a drop in march because of seasonal faq is and imports are forecast to rise nearly 16%. as you can see from those estimates, a nalysts can see from those estimates, analysts expect a rebound. for more on what to expect from the trade numbers coming out of the second biggest economy in the world, i am joined by my colleague, business reporter monica miller. there are obviously no problems despite no trade tariffs between the two countries. we are interested in what happens later. many analysts say these numbers should be pretty strong. yesterday the markets in asia closed up. right now they are pretty flat, going sideways. there
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is in too to just yet but analysts expected the strong numbers despite the lingering tension between these two. when president trump's economic advisers headed to beijing and met their counterparts last week they had tough negotiations. they walked away with not a whole lot to discuss. but one issue which is a real sticking point for president trump is bringing down this trade deficit, this $200 billion trade deficit, this $200 billion trade deficit, by 2020. however, one a nalyst we deficit, by 2020. however, one analyst we heard from this morning from hong kong said the two biggest countries in the world should have a trade deficit. the reality of the us economy being $90 million and china being $12 billion tells you that there should be a trade deficit —— $90 billion. america can buy a much more than china. this is reallyjust a way for him to try and get better deals. so monica, is this already having an impact on the us economy? it is. farmers, for example,
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especially soya bean producers, are really feeling the pinch. at this point they are saying if they are hit with this additional tariff by the chinese it might really hurt the industry. just the talk of that alone sent soya bean futures plummeting. 0n alone sent soya bean futures plummeting. on april four, alone sent soya bean futures plummeting. 0n aprilfour, just before the announcement was made. we will have to see how long these negotiations continue. a trade war between the world's two biggest economies, not healthy, so find a solution. thank you for that update, my colleague and business reporter monica miller. in other headlines, oil prices rising to 3.5 year highs on speculation us president donald trump will exit the iran nuclear deal, that pushed us oil prices to their first close above $70 a barrel since november 20 1a. mr trump is expected to make the announcement on the iran policy later today. walmart is reportedly buying a 75% stake in
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india's biggest e—commerce company for $15 billion. the deal is expected to be announced sometime this week. walmart has been trying to gaina this week. walmart has been trying to gain a foothold in the fast—growing indian market for a decade and its purchase would mark the biggest investment in the corporate india. india's bank has recorded its smallest profit in two yea rs recorded its smallest profit in two years after officials tighten the bank regulations to clean up bad loa ns a cross bank regulations to clean up bad loans across the country. the bank's chief executive has also been battling allegations of nepotism involving alone the bank gave to a large conglomerate facing bankruptcy. the uk trade department is reportedly planning to let go of hundreds of officials who worked to promote british exports. according toa promote british exports. according to a report by the financial times newspaper, staff at the department for international trade have been told up to 10% of trade promotion
quote
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jobs will be axed because of budgetary constraints. trade promotion officials helped british companies sell their products in emerging markets such as china and brazil. and the uncertainty over brexit negotiations between the uk and the eu has left many questions unanswered, including what will this mean for london's status as a global financial hub. the city of london, the square mile which is home to some of the biggest financial companies in the world, faces a potential blow to its reputation as a top financial centre. earlier i asked the lord mayor of the city of london if he was concerned. cautiously, we are quietly confident. that is not to say that we don't need the right brexit deal, but we are cautiously and quietly confident. 0ne but we are cautiously and quietly confident. one of the reasons why i travel abroad and one of my objectives was to provide that sense of reassurance, that london will remain the pre—eminent hub well into the future. what kind of brexit deal
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does london what? we have been promoting what we call the three ts with government. transition, talent and trade. we need a transition agreement that provides a sense of certainty, we need talent, london is nothing without access to its people, we need the appropriate immigration policies, therefore. and we have promoted and set out a practical, pragmatic, quite ambitious free—trade agreement built out of mutual recognition, regulatory alignment and supervisory cooperation. what about with the job cuts in the trade department? won't you have a diminished britain rather than a global britain? that is the first i have seen of that particular report that you announced earlier on your programme this morning. all i would say is that we have a very effective working relationship with dit, the city corporation. we have invested in our programme, and it is
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paying dividends. lord mayor, you are paying dividends. lord mayor, you a re halfway paying dividends. lord mayor, you are halfway around the world, in south east asia. how can this region helped london? well, it is a great sense of excitement. here in singapore, an important international hub in its own right, a healthy sense of competition, but there are many areas, as financial services develops, areas we can collaborate, whether it is cyber, teentech, green finance, a very exciting agenda —— fintech. teentech, green finance, a very exciting agenda -- fintech. keeping with our trade scene, one of the most familiar symbols of american business has to be the trading floor of the new york stock exchange and you might have noticed a certain common trait among the traders. they are all men. well, all but one. we spoke to lauren simmons, the only female trader on the stock exchange floor, as well as the only african—american, and the youngest. genetics graduate lauren simmons was
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a lwa ys genetics graduate lauren simmons was always an unlikely candidate for a career within the beating heart of the us economy, as clients often like to remind her. a woman, and you are 23, and you are a minority? what are 23, and you are a minority? what are you doing, how did you get this job? lauren moved to the big apple from her home state of georgia, and thanks to a chance introduction, was soon thanks to a chance introduction, was soon working on wall street in an almost entirely male environment. soon working on wall street in an almost entirely male environmentlj fell almost entirely male environment.” fell in love with the numbers, and the fast movement, and the men in the fast movement, and the men in the trading jackets, and everything was moving so fast, i am loving it. the new york stock exchange is one of the last remaining trading floors to still use human brokers. but even as their numbers dwindle, one thing remains true. this is very much a boy ‘s‘ club. 0ne wall st veteran who has been on the floor since 1969 says this disparity goes back to the way things were done for the computers arrived. trading in the
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trading crowd was a very physical thing. you and i would look at each other and try and figure out how big an order did we have, how nervous did you look, how aggressive were you going to be? it didn't attract a lot of women. last year, richard hired lauren. but she remains the only full—time female broker on the floor, despite attempts to recruit others. we just hired a new person not too long ago, and in the intervening process, there weren't that many female applicants, because they were not applying. for the few women who do make it to the new york stock exchange, some challenges await. everyone here wears a jacket or they wear a blazer. it comes in men's sizes. when i saw it i thought i was wearing my dad's coat or something. despite sartorial obstacles, lauren was proud to be inducted into the stock exchange fraternity and to become the only african—american woman ever to sign her name alongside jaidee
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rockerfeller. but the trading centre, which has long battle accusations of sexism, needs more to follow in her wake ——jd rockerfeller. 0il follow in her wake ——jd rockerfeller. oil prices closing at 3.5 year peaks overnight, with light crude at 70.13 dollars, and brent crude at 70.13 dollars, and brent crude at 70.13 dollars, and brent crude at $75.64, trading on the european platform, this on speculation us president donald trump will accept the iran nuclear deal. let's have a look briefly at the asian markets, the nikkei up a 6.25 in the all 0rdinaries gaining ten. thank you for investing your time with us. i am rico hizon. see you soon. the top stories this hour: molten lava is continuing to flow through a neighbourhood on one of the islands of hawaii. 2,000 people have been evacuated. president trump has said on twitter that he will announce on tuesday whether he is abandoning the international nuclear deal on iran.
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it has been a record—breaking early may bank holiday, as temperatures in some parts of the country hit 28.7 degrees celsius, the hottest since the long weekend was introduced 40 years ago. south—east england, the midlands, and east anglia enjoyed the warmest weather. from southend—on—sea, frankie mccamley reports. whether you want to dive right in and really make the most of it, just get your feet wet, or have some good, old—fashioned fun, today has certainly been the day. i had to tell this one, "nope, put down the marigolds, you know, and the bleach, you're not cleaning today. come on, let's go". and she was like, whoo!
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and i was like, boop—boop—boop. "i'll see you in an hour love, later. " so she dragged me out of my house in other words, otherwise i would have had a day of cleaning. been down here since half—ten. and you haven't been able to get a place on the beach? we've got a place here, but look at it. any people that got down here after sort of like, 12:00, no chance. you look up and down here, look, there's people looking around to sit down. this isn't usually a sight you would expect to see on the first may bank holiday. but with record—breaking temperatures, including here in southend, it is clear a lot of people have got the same idea. three, two, one, go! but, for those who didn't fancy getting sand in their toes, making a splash in the new forest water park was on the agenda, orgrabbing an ice cream in bognor regis. a slightly more relaxing time for those dipping their toes in the lakes in south wales. but in bigbury, in devon, beautiful, calm seas didn't put off those who wanted to make the most of it. considering it was beast from the east a few weeks ago, and now we're out in shorts and t—shirts, so. ..great! just make the most of it
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because it's just unheard of, isn't it? this incredible weather, this early on in may. but yeah, we've got a picnic. 0h! yeah, and we're going to get out in the water, hopefully get this one to get his toes in the water. that's the plan. the hottest temperature previously recorded for an overall early may bank holiday was 28.6 degrees celsius in 1995. but this afternoon, that record was broken away from the coast, in northolt in west london, where temperatures reached 28.7. frankie mccamley, bbc news, in southend—on—sea. you can get in touch with me. time now for all the sports news, in sport today. hello, i'm gavin ramjaun and this is sport today, live from the bbc sport centre. coming up on this programme... mark williams wins a thriller to become the oldest
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world snooker champion in 40 years. novak djokovic powers past kei nishikori in a madrid opening masterclass. it's advantage aljazira in their afc champions league tie after a 96th minute winner. hello and thank you very much indeed forjoining us. we start with a thrillng end to the snooker — mark williams has won the world championship for a third time after close 18—16 victory overjohn higgins. the welshman led 15—10 from the afternoon's action but higgins pushed him all the way in the evening session, clearing up every time williams made a mistake. but the 43—year—old, who's now the oldest champion in 40 years, held his nerve. this was the red that clinched it. the welshman had thought about quitting the game, and didn't even qualify for last year's championship —

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