tv Asia Business Report BBC News August 7, 2018 1:30am-1:46am BST
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i'm babita sharma with bbc news. our top story. indonesian officials say nearly 100 people have been killed by sunday's powerful earthquake on lombok island. more than 230 were seriously injured. thousands of people have been left stranded, after a second earthquake hit the holiday island and the surrounding area. thousands more have been left without shelter, president trump reimposes sanctions against iran, following the united states‘ withdrawal from the nuclear deal. but he said he remained open to striking a new nuclear deal with iran. the iranian president has condemned the move. and this video is trending on bbc.com with walt disney's new live action winnie the pooh film, christopher robin, being denied a release in china. the chinese authorities have been blocking images of winnie the pooh on social media after the fictional bear became a symbol of political dissent. that's all. stay with bbc world news. and the top story in the uk: the labour party has dropped
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an investigation into dame margaret hodge. she was facing disciplinary action over her record on anti—semitism. now on bbc news, asia business report. stepping up the pressure. the united states is rolling out she sanctions on the run is a fresh wave of protests sweep across its major cities. —— iran. and entrepreneurs making over the cosmetic industry with instagram. welcome to asia business report, i am sharanjit leyl business report, i am sharanjit leyl. sporadic protests have broken out in multiple iranian cities driven by the united states reimposing sanctions on the oil—rich nation and monday marked the end of the 90- nation and monday marked the end of the 90— day winds down period set by
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washington. sanctions will return. the first sets targets for iran's access to us banknotes and a range of economic sectors including gold and metals such as steel and aluminium as well as automobiles and 90 days later, the us will block iran's or your sales. paul blake says president trump is trying to get to run mac to begin —— the negotiating table. these and the threat of others have had a great effect on the economy. demonstrations in the streets and the iranian currency has been down 80% since may, the iranian ‘s have responded by saying they are willing to negotiate in principle with the us but they are not entirely sure the us is ready to negotiate in good face —— good faith. president
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rouhani said, if you stab someone with a knife and say you want talks, the first thing you had to do is remove the knife and doesn't look like the proverbial knife is removed. more sanctions are coming along and those are secondary sanctions which prevent companies —— companies, mainly european companies, mainly european companies, from buying iranian oil and also, storing up tensions between the us and its traditional allies in europe. where does this leave america's allies? if companies in europe are not able to buy iranian oil, that could be tricky and problematic and we will be looking —— and they will be looking to the us for some sort of solution there. asian currencies have been falling against the us dollar, factoring in concerns of a prolonged trade war between the us and china. the chinese currency weakened as
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despite central bank efforts to stabilise it, with its weakest point in every year. the bank of china imposed a reserve requirement on the foreign exchange contracts and that is aimed at discouraging bets against the chinese currency. it has lost 8% against the us dollar against march. peter mcguire says you have to look at where the us dollar has traded over the past six months. a very solid uptick, around eight or 9%. there is the first side of it. as forest trade wars are concerned, we of it. as forest trade wars are concerned , we are of it. as forest trade wars are concerned, we are at the starting phase. chinese economy, as far as the stock market is down, nearly i9% in the last six months saw solid fall. there are many moving parts of this whole conversation. we know that a weaker currency actually
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helps chinese exports but ironically what we are seeing is the central bank preventing the currency ‘s weakness. is there any evidence that it all suggests the chinese are going to manage the trades that with its currency? thou conscious as far as those falls and there is no doubting that and there is movement from the chinese people's bank. it isa from the chinese people's bank. it is a global situation as far as us rates and that is underpinning the us dollar which can weaken the chinese yuan, or renminbi. it's an early phase and its work in progress so early phase and its work in progress so different angles. what other tools does china have to cushion the effects of this trade spat? backpedalling. as far as pressuring north korea and backpedalling, and of course, nuclear negotiations with
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us economy. you could also look at subsidising the internal workings as far as manufacturers and other companies inside china itself. similarto companies inside china itself. similar to what us farmers are achieving. and then you could cook ata achieving. and then you could cook at a vast array of different options even at the point of china selling us treasury bonds which could cause inflationary issues in the us. in other business news, japan's household spending fell 12% injune, extending its annual declines for a fifth month. private consumption has been a soft spot. slow wage growth prevents households from loosening their purse strings as companies are discouraged from hiking prices and keeping the 2% inflation target out of reach. pepsico chief executive
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indra nguyen is stepping down and has appeared on the list of most powerful women for forbes. she took thejob in 2006. the 60 to your businesswoman has been with the company for 2h years and in a series of posts on twitter, referred to her upbringing in india said she never imagined she have the opportunity to lead a company like pepsico. japan's softbank group has reported 49% jump in profits after selling its stake in indian commerce giant flipcard. the sale is the first sign of softbank making money off its investments after pumping millions of dollars into technology companies. its investments are worth $32.5 billion. saudi arabia has
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expeued $32.5 billion. saudi arabia has expelled the canadian ambassador and cut of all trade with the country over a diplomatic feud. a saudi foreign ministry statement said it considered a call for release of female activists a violation of saudi sovereignty. canada says it was seeking clarity on the issue. now, all this week, we are looking at the entrepreneurs and the businesses that have been transformed by instagram. today we look at the way the social media has transformed the billion—dollar global beauty industry which is expected to grow by more than $300 billion by 202a. traditional cosmetics brands aren't the only ones capitalising on this growing market. disrupters
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ones capitalising on this growing market. disru pters by ones capitalising on this growing market. disrupters by —— disrupters like kyliejenner are market. disrupters by —— disrupters like kylie jenner are taking industry by storm. i'm just going to spread to my face. for a 17—year—old lila childs: ——, heraccession started young after she saw ‘the hunger games' movie at just 11. started young after she saw ‘the hunger games' movie atjust11. one thing i really remember was the make up thing i really remember was the make up and how it wasn't really about vanity, the way make—up transformed her into they wanted her to be so i went home and i had, i stole my mums make up and whatever i had and i tried to do it on myself. lila says it was the power to transform which made her want to become a full—time make—up artist. so to get started, she did what every teenager does these days, she opened an instagram account, makeup by lila, to get
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advice from bland brands like this one, glossier. people are getting advice from other women not based on sales associate or other women. emily weiss is the founder of what she calls the first cocreated fruity beauty company. social media is how we launched. we created an account at glossier which has over a million followers from all around the world and social media is so ingrained in what we do. our engagement rate is three times higher on instagram and other beauty companies. kylie jenner has grown to be valley at more than $400 million by investors, partially asa $400 million by investors, partially as a result of statistics like this one. the company gets an instagram direct message from fans every ten seconds and that digital savvy. this one generates more sales per square foot reportedly than your average apple store. all this is that
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traditional beauty plans. before we 90, traditional beauty plans. before we go, let's take a look at this market. they are flat at the moment as you can see. the nick kay in tokyo just as you can see. the nick kay in tokyojust up as you can see. the nick kay in tokyo just up ever so slightly in the all 0rdinaries in australia as well. apparently investors looking for some new leads. still a lot of caution of those upcoming talks with the us and china. and that is if the programme, and keep watching. this is bbc news the top — stories this hour: thousands of tourists flee the indonesian island of lombok after an earthquake kills nearly 100 people president trump reimposes sanctions against iran, following the united states' withdrawal from the 2015 nuclear deal. rural crime has risen to its highest
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level in four years across the uk with many farmers saying they feel vulnerable and have to protect their property according to insurers. some farmers are digging trenches and thanks to try to deter organised gangs of criminals targeting quad bikes, tools and machinery. when it comes to being a victim of rural crime, judith jacobs says she is a victim. first, there is the fly—tipping. the remains of a cannabis farm is the latest thing to be dumped by her fields. we are dumbfounded, basically, by people that can leave this on our doorstep and their doorstep. they're too lazy to go to the tip and it actually creates us a lot of work and makes us very sad.
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also it's a fire hazard. and just a few days ago there was a fire on her land. got a phone call on saturday night to say that the neighbours had seen three boys running away and the fields were on fire. judith says it was almost a disasterfor the business. we've got two combines out there valued at £150,000 each. standing crop behind me there that we had to gather a group of neighbours up to batter it down and try to contain it until the fire engines arrived. research out today suggests farm thieves are getting more aggressive and don't care if they are caught on cctv. so some farmers are building long earth banks to protect their land, as organised crime gangs muscle in on rural easy pickings. whenjudith found a criminal gang in her own farmyard she dialled 999. but nobody came. it was the most frightening experience i've ever had. i was confronted in my own yard by two vehicles and eight men and then said they know where i live and they'll be back. she says things must change. i would like somebody when i dial 999, to understand my predicament and be able to help me, give me advice and point me in the right direction and be there for me when i need them.
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police say they are updating their tactics but too many people in rural areas feel as though crime is not been adequately tackled. danny savage, bbc news, cambridgeshire. more on the situation in lombok after two earthquakes. 100 people have died. more later. now on bbc news, sport today. hello, you're live at the bbc sport centre with me chris mitchell. coming up for you on sport today: a different kind of test awaits england's cricketer ben stokes. canada is open for venus williams, who breezes through her opening tie in montreal. do you know who this man is? only one of the greatest of all time. the little master gives his thoughts on india's captain virat kohli.
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the england cricketer ben stokes played a key part in england's dramatic win over india last week, but this week he's in court accused of affray. on monday, the first day of his trial, a court here in england heard how stokes is accused of mocking two gay men, before brawling with two others. stokes denies affray. but while his teammates prepare for the second test match against india that begins on thursday, he'll still be in court. here's our sports editor, dan roan. having had to swap cricket field for courtroom, ben stokes arrived here this morning for the opening day of his trial. dressed in a navy suit, the 27—year—old all—rounder sat in the dock alongside two local men he's accused of punching during a fight in the city last year, ryan hale and ryan ali.
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