tv Asia Business Report BBC News August 6, 2018 1:30am-1:46am BST
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with our top story: the indonesian island of lombok has been rocked by a second deadly earthquake within a week. at least 82 people are reported killed in the magnitude seven quake. dozens more were injured as the tremor damaged buildings and triggered power cuts. the us geological survey says the tremor struck just 10 kilometres underground. the bangladeshi capital dhaka has seen an eighth day of protests over road safety. there were clashes as police tried to disperse thousands of students and young people blocking roads. and this video is trending on bbc.com. it's a tropical snake eating a pigeon in broad daylight on the pavement of a busy street in london. the snake is thought to be an abandoned boa constrictor. it's now been taken to an animal welfare centre. that's all. stay with bbc world news. and the top story in the uk: jeremy corbyn has apologised for the hurt that's been caused to manyjewish people by anti—semitism in the labour party.
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he said his party had been too slow in dealing with allegations. china's started the week with its shanghai stock market being the worst performer in the region this year. but will it take for a bounceback? and one bakerfinds sweet success using social media as a mainform sweet success using social media as a main form of marketing. sweet success using social media as a mainform of marketing. —— mcgregor. hello and welcome to asia business report. i am sharanjit leyl business report. i am sharanjit leyl. we start in china, where the shanghai composited has emerged as asia's was performing stock market in 2018. the index is down almost 20% for the year. on friday, stocks closed their worst week since
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february. donald trump has sent a tweet over the weekend saying that his strategy of steep tariffs on chinese imports is working far better than ever anticipated. this tweet followed a statement from chinese officials have threatened new tariffs on $50 billion worth of us goods. simon littlewood says the negative sentiment is dunedoo affect confidence in the chinese markets. in fact, the ceo of the organisation said the concern of the trade will continue. 50 this said the concern of the trade will continue. so this role on effect is having an impact on the stock markets? on the region, because a lot of the stuff that is manufactured in china and exported around the world has components from southeast asia. southeast asia depend significant and china. and then of course there are equities. chinese equities have always been rather frothy, or unstable. it is a
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terribly volatile situation. we saw a lot of stocks tanking in 2015 should investors be worried about there? the majority of investors are retail investors, making it almost unique in the world. for the forces around the world, institutional investors are more savvy and the most important. so they expect a 1—way bet in china and when they do not that they bail. so will the chinese government intervene like they did in 2015? that did not do well either. i think there would be relu cta nt to well either. i think there would be reluctant to do that. i am personally optimistic in the medium term for the chinese to exchange to be because of the size of the chinese market and growth in gdp. this is a temporary blip. i expect that the trade war will be resolved. the curious thing is that this is a huge own goalfor the us. if you slap tariffs on things being imported, it passes on people pay
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more for it. in other business news, the company that makes chips for the iphone and popular devices they that they have been hit by a computer virus. the tyler lees manufacturing co says a number of their tools were affected on friday evening. but the problem is now contained and the operation should be up and running fully later today. the well‘s largest contract chipmaker did say that it expects the incident to cause shipment delays and additional costs. they said he disruption could costs. they said he disruption could cost them billions of dollars in damage in the third quarter. at the white house is expected to make an announcement later today detailing the repossession of chinese sanctions on iran that were ordered by donald trump this week. —— reimposition. international sanctions were lifted in return for curbs on the iranian nuclear
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programme. an inevitable batch of earnings and economic data to track. we start with the social sharing platform snap, which releases its second—quarter earnings on tuesday. midweek shares of china tower are to debut in hong kong. the share sale exercise has raised $7 million for china tower. and cyclone enthusiasts will get theirfirst look china tower. and cyclone enthusiasts will get their first look at the latest mobile offering from samsung. that is the same date that ikea will open its doors in india. and we will be ramping up the week with a health check on the japanese economy with gdp data due on friday. —— smartphone enthusiasts. the social media company says it is still suffering a loss in terms of earnings per share. the number two
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watch with the snapchat earning report will be the daily active user growth. apperley have seen with these high growth tech stocks like facebook and twitter, posting in their reports last week to week daily user growth due to it in privacy regulations and also more focus on safety and security within the applications, these have cause sharp evaluations when it comes to expectations. let us move on to china tower's ipo. this could be the largest since alibaba, but nobody has really heard of them. they were rumoured to be the largest ipo since alibaba, but rumoured to be the largest ipo since aliba ba, but priced rumoured to be the largest ipo since alibaba, but priced at the low end of the market range. so it is actually only the largest ipo since china postal gap saving bank. they
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have slumped since the beginning of the year. china tower generate most of their income in chinese yuan, making them subject to the cnh — us exchange rate. then there are the tangled loyalties when it comes to china tower. one would expect them to have pricing power, but their three largest shareholders generate 99.4% of the revenue. so there is a question about what their future pricing power will be. and let us that the big brands like ikea opening up in india, samsung with their first opening up in india, samsung with theirfirst mobile opening up in india, samsung with their first mobile phone, opening up in india, samsung with theirfirst mobile phone, a chance for investors to look at that. you expecting? ikea setting up for the next 100 years in india and take a sta b next 100 years in india and take a stab at the $26 billion furniture market debt, which is largely dominated by local and family run players. is symbolic of the m0di government opening up for foreign
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investment. with samsung investing their galaxy note nine, and we are looking at whether or not this can pf°p up looking at whether or not this can prop up samsung's galaxy note brand. we have just enough time for the gdp japan. what you expecting? we expect in the gdpjapan due to gupta 1.5% year on year driven by consumer spending due to the tightening labour market in japan. a cake maker in london who worked in cafes in ba kery in london who worked in cafes in bakery shops has been looking for a big break. it came when a model bought one of the text and take on instagram. she notes the publicity for all was worth an launch a company which sells cakes through paris. she now is user ‘s instagram as the main force in her marketing.
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i got permission to make a cake for current delivery income of the famous model, and my sister said you had to go on instagram and get her to ta ke had to go on instagram and get her to take you. —— tag. i went from about 100 followers to 6000 that day, and i think that was the very start of my instagram, and i already have that big boost. you upload a photo, people like it, people see when you are doing, and then react to it, and maybe somebody can even get in touch and ordered that just by seeing can even get in touch and ordered thatjust by seeing it. so the more i uploaded, the more interest i had, and the more orders came in. i am
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also using instagram as a portfolio of my work because it is so visual. instagram is something that you really have to keep up. if i have not uploaded a photo, my followers might think she is not as busy this week, so i have to show that i'm busy, making lots of cakes, showing people different options that i can do, rather than the same cake over and over again. so it is not simply making a cake, photographing it, and putting it on, there is a whole background that goes into a photo. and if we go, you might recognise this, this is mission impossible, clinging to the top spot at the box office for the second week in a row, beating out disney's new film christopher robin. the six edition of the popular franchise took an estimated $35 million for the weekend. critics and audiences has
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warmed to the movie, with tom cruise again doing his own vertigo inducing cliffhanging car starts. and that is just take a quick look at the markets. not a massive amount of excitement. —— stunts. the month tracked wall street's was on friday, with a flat close. those jobs numbers were not great. 0ther politicians. all the worries about the tensions over the us— china trade war. and that is it for the programme. thank you for watching. this is bbc news. the top stories this hour: the indonesian island of lombok has been rocked by the second deadly earthquake within a week. at least 82 people have been killed. there've been fresh clashes in bangladesh, as police tried to disperse young people continuing a week—long protest in demand of safer roads. jeremy corbyn has again apologised for the hurt that's been caused to manyjewish
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people by anti—semitism in the labour party. in a video message, the labour leader acknowledged that his party had been too slow in dealing with allegations. he has not however responded to a call from his deputy, tom watson, for labour to adopt the full definition of anti—semitism as set out by the international holocaust remembrance alliance. vicki young reports. reporter: mr corbyn, when will you do enough for thejewish community to be happy with the labour party? he's not answering questions, but jeremy corbyn‘s under growing pressure to do something to prove he's taking the issue of anti—semitism seriously. mr corbyn‘s refused several requests for interviews. instead, the labour party filmed this message in which he says sorry for the hurt caused to manyjewish people. people who use anti—semitic poison need to understand, you do not do it in my name or the name of my party. you are not our supporters.
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and anyone who denies that this has surfaced in our party is clearly actually wrong and contributing to the problem. all: shame on you! jewish groups are angry about the internationally recognised definition of anti—semitism that the labour party has decided to adopt in its code of conduct because it doesn't include all of the examples that come with it spelling out anti—semitic behaviour. labour says it's trying to make the code easier to enforce, but now the party's deputy leader has joined the chorus of disapproval. tom watson told the observer that labour risked disappearing into a vortex of eternal shame and embarrassment over the row. another senior backbencher said mr corbyn‘s video changed nothing and she didn't feel that all reassured by more words. he seems to have difficulty understanding that this is a very serious situation that won't go away with warm words. he seems to hold the jewish community in some kind of contempt and to treat them in a way he would not dream of treating any other minority community. labour insists that mr corbyn has
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made it clear in the strongest terms that anti—semitism has no place in the party and the code of conduct, which is causing such anger, is about to be fully consulted on. detectives investigating the death of midwife samantha eastwood have charged a man with her murder. 32—year—old michael stirling from stoke—on—trent will appear before north staffordshire magistrates in the morning. the body of samantha was discovered during a police search near to caverswall on saturday. temperatures close to record levels in portugal and spain are posing a serious challenge to firefighters still train to bring a number of blazes under control. in southern portugal, aircraft have dropped water to dowse forest fires as temperatures hover above a0 celsius. now on bbc news, sport today. you're live at the bbc sport centre.
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this is sport today, with me, chris mitchell. coming upforyou: grand hall entrance. england's georgia hall has her hands on her first major, the british open. six of the best. the netherlands thrash ireland and they're world cup winners again. and marta bastianelli wins gold on the road at the european championships. england's georgia hall has won the women's british open. hall, who's just 22 years old, beat thailand's pornanong phatlum by two shots. phatlum had led for most of the weekend but a double bogey at the 17th ended her hopes and helped hall to her first major title. colm harrison has the story. this is the trophy they were all playing for on
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