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tv   Asia Business Report  BBC News  July 27, 2018 1:30am-1:46am BST

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our top story: the former world cricket star, imran khan, is set to be pakistan's new prime minister. in a televised speech to the nation, he said he'll fight corruption. but his victory‘s is being challenged by members of the party of the jailed former prime minister, nawaz sharif. they claim the election result was rigged and they are not conceding defeat. greece says it has "serious indications" that a fire that killed at least 83 people near athens was started deliberately. a government minister said an investigation had been opened. and this story is trending on bbc.com. shares in facebook plummeted by almost 20% as trading opened in new york. the company blamed the cost of improving privacy safeguards and monitoring content. that's all from me. stay with us here on bbc world news. our top story here in the uk:
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the government is to make it easier for doctors to prescribe medicines derived from cannabis. the home secretary said advice from experts had prompted him to reconsider the government's position. now on bbc news, live to singapore for asia business report. is on reports mixed results, but investors seem happy. shares of about 3%. —— amazon. president trump has long boasted that he can deliver higher growth than his predecessors. will the latest gdp data back is claimed? —— back his claim? hello and welcome to asia business report, and welcome to asia business report, and sharanjit and welcome to asia business report, and shara njit leyl. and welcome to asia business report, and sharanjit leyl. we start with the us, which is expecting big business news from amazon, but did not get everything it hoped. we saw
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profits increase a whopping $2.5 billion from a year ago, but missed a nalysts's billion from a year ago, but missed analysts's expectations. us shares have been rising about 2.3%. —— amazon shares have been rising. of course, we know amazon is the first $1 trillion company in history. our technology reporter dave lee has been following the story and brings us been following the story and brings us this update. well, i think a lot of people were certainly worried about facebook coming in well below expectations yesterday that it might be something of a trend, the amazon, which is obviously huge technology company here, it obviously follow suit. that does not seem to have happened but overall, there is pretty healthy ownership, particularly how high the revenues have gone up since this time last year and those profits, gosh, they we re year and those profits, gosh, they were well above what analysts had been predicting. so pretty good all round, i say, been predicting. so pretty good all round, isay, and i think
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been predicting. so pretty good all round, i say, and i think what we're looking at here, although we compare these companies as being technology companies, facebook and amazon are in very different businesses really. amazon sells things to people, physical objects, and eventually healthcare is what they are working on next. and facebook city days the economy, it people sharing information on what they are looking at. —— people. it did not quite raise enough, the excited to reach that $1 trillion mark you mentioned. we mention these two companies rely on two very different things or variety of things, but we know they are part of those stocks, so we have got facebook, amazon, netflix and google, so how are investors null viewing all these different companies as a group because they do tend to be lumped together? yeah,
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they lumped together because it is quite a good industry. —— now. i think the overall health of the us tech sector, there are several buried companies with the same eye balls at buried companies with the same eyeballs at there. they are selling things very much to the same group of consumers. i think as time goes on, we are going to see a slight separation of those companies because some of them obviously a performing extremely well, netflix in particular, but others are doing different kinds of business now that is not so good. —— are performing. i think we might see that change in the near future. meanwhile, starbucks has lowered its full—year earnings forecasts. growth in the us rose in the second quarter but the less robust china market slipped with this competition and stricter regulation and delivery services. disney will decide mickey mouse and ba rt disney will decide mickey mouse and bart simpson will become part of the
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same family. —— shareholders. shareholders in disney and 20th century fox will vote today to determine whether the two companies should merge in a deal worth $72 billion. some, the deal is not a happy ending. i asked an economist why disney is interested. is all about content, so although disney has a very large and successful slate of movies, as well as tv programming, it wants more. —— it is. it is competing against the likes of netflix, you just mentioned amazon, amazon prime video is another competitor. tallis what disney aims to get out of fox and why some people do not actually seem terribly happy about this. -- tell us. terribly happy about this. -- tell us. well, it is all about content, direct to consumer. whereas before it was all about going through tv channels and maybe even movie
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theatres, now you can use direct this tradition. but you also have these various online portals, so disney is looking to add to that and the reason people are not very happy in some circles is that that is going to give them incredible market power, everyone from small cinema operators to writers, it has been especially writers and film critics who have been rather concerned about this development. and tell us a little bit about some of the questions that have been brought up on this speedy regulatory process behind this. why has the department ofjustice gone ahead and given its approval quite so quickly when as you say, there are those concerns? yeah, it is interesting what you said about the speed. this deal was approved injust 18 said about the speed. this deal was approved in just 18 months said about the speed. this deal was approved injust 18 months time. at&t and times warner was actually rejected, but then they argued the case in courts and the court was won over. the reason seems to have been approved is because of the new media scene. the justice
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approved is because of the new media scene. thejustice departmentjust like these two companies better, for some reason. it seems to be that they are realising that yeah, you have netflix, you have youtube, you have netflix, you have youtube, you have amazon prime, the whole industry is changing and this deal is just part of that change. industry is changing and this deal isjust part of that change. now, president trump has long boasted that he can deliver significantly higher growth than any of his predecessors. and the latest data that will be released today might actually show its best numbers in four years. economists remain sceptical of his claims. because right now, our country is dying of 196 right now, our country is dying of 1% gdp. we at 3.3% gdp. i see no reason why we don't go to four, five, and even 6%. we already hit at 3.2%, andi five, and even 6%. we already hit at 3.2%, and i think we are going to be seeing fours and five ‘s too. economic growth has been central to donald trump's message, both on the
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campaign trailand in donald trump's message, both on the campaign trail and in the white house. gdp numbers will be announced tomorrow sometime. i do not know what they are but i think they are going to be terrific. and on friday, he may see a milestone he has long been waiting for. we are growing rapidly, we are going to get gdp number on friday that is going to be a very significant an impressive number. some think in the 45% psion. mrs trump is not necessarily wrong, economists here are expecting gdp to top 5% for the first time since 2014. -- top 5% for the first time since 2014. —— some think for 25%. top 5% for the first time since 2014. -- some think for 25%. uh-huh —— fourto 5%. the nos have it in the gdp, the highest in four years, i'm not going to complain about that. —— a nice
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number in gdp. businesses are concerns and what would you do if you knew that was going to cost more tomorrow? you buy today, and that is what we are seeing businesses doing. whether the strong numbers are here to stay or not, the bidding is expected to come in at about 4% or 5%. expect try to trumpet as he prepares for the mid—term elections. we actually have not got the time or the energy to cook. we are talking about this stuff, it is canned foods. nowadays, it is a multibillion—dollar global industry but did you know it was first created for its single customer, and thatis created for its single customer, and that is britain's royal navy? hey, it's canned food. yeah, we're
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talking about things like soup, beans and fish. but how do we get these into our kitchens? in the early 1800s, to stop savers and dying of malnutrition, the royal navy needed food that would not spoil on a long sea voyages. an entrepreneur, yeah, this bloke right here, put food insider canned, sealed airtight, and cooked it. the stuff inside stage fresher months. in 1813, he opened this, the world's first cannery in london. and the navy was his first customer. the first cans are extremely thick. in fa ct, first cans are extremely thick. in fact, some needed a chisel and a hammer to open them. at first, some avoided canned food. they did not trust what was inside but then in 1905, henry heinz started selling soupin 1905, henry heinz started selling soup in cans and people got a taste for them. nowadays, the world buys
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$100 billion of this stuff every year. thank god someone invented the can opener. let's take a look at those markets now because some of them are open here in asia, and that is of course the nikkei injapan and australia's all 0rdinaries as well. this is of course because wall street was closed yesterday. you can see that they are actually trading higher and that is really all due to the optimism that some of the trade tensions in the us and europe are sinking down. of course, we all watching those gdp numbers from the us as well. that's it. our top stories this hour: former world cricket star imran khan claims victory in pakistan's election, promising the people he'll fight corruption. in the us government says that more
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than 1800 children separated from their parents as they cross the borderfrom mexico have now been reunited with their families and released. the uk has experienced its hottest day of the year so far, with 35.1 degrees celsius recorded at wisley in surrey. the continuing extreme heat is causing problems in the nhs, with warnings that the health service is facing similar pressures to the winter. jon kay has this report from milton keynes. wally is suffering. at 86, the heat has made his lung condition worse. he was rushed to hospital after collapsing at home. i fell, fell backwards into a radiator. took a chunk out of my back. he's now making sure he drinks plenty of water during the heat wave. it's the second time it's happened. and so is don, on the other side of the ward. he came in dehydrated with a kidney problem. i go into the hallway,
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and the next thing i know, i'm on the deck. what, you just passed out? yeah, yeah. that's scary. it is. here at milton keynes hospital, they've seen an increase in admissions, including sunburn and heatstroke. we've got more patients needing more treatment and in fact at this time of the year we've got nearly all of our beds, our winter pressure beds already open, and that is a real concern for us. so much for getting away from it all. when travel delays meant that
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eurotunnel could not be used, passengers faced hours of delays. eurotunnel is an absolute joke. some of the motorway embankment in 34 degrees heat. fire hydrants were open to call people down. —— opened. is like a carnival with a little bit less fu n is like a carnival with a little bit less fun and a little more waiting. they brought in extra water for festival—goers at womad in wiltshire. but if you are travelling —— but wiltshire. but if you are travelling -- but if wiltshire. but if you are travelling —— but if you are not travelling or working, and you are fit and healthy, there is still fun to be had in the sun. now on bbc news, sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme:
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british rider geraint thomas remains on course for victory in the tour de france with three stages remaining the former manchester united manager alex ferguson has publicy thanked those who helped him recover from a brain haemmorage in may. and adil rashid takes aim at former england captain michael vaughan after he criticised the leg spinners inclusion for the first test against india starting next week in birmingham hello and welcome to the programme where it was a trouble—free day in the peloton for the tour de france leader geraint thomas as arnaud demare won a largely flat 18th stage on thursday. thomas still leads overall — and only friday's mountain pass and saturday's time trial stand between him and a maiden grand tour title. tom fordyce reports. after two days in the high mountains of the pyrenees, a chance for geraint thomas and his yellowjersey rivals

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