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tv   Asia Business Report  BBC News  August 27, 2018 1:30am-1:45am BST

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our top story — there's been a mass shooting in florida. three people have been killed in the city of jacksonville. the gunman was named by police as 24—year—old david katz from baltimore in maryland. more than a dozen other people were injured in the shooting. pope francis has ended his two day visit to ireland. at an open—air mass in dublin, he vowed to pursue justice for the victims who suffered abuse at the hands of the clergy. and this story is featuring on bbc.com. the american playwright, neil simon has died at the age of 91. he wrote more than 30 plays, including come blow your horn and the odd couple, and was the first playwright to have a broadway theatre named after him. that's all. stay with bbc news. and the top story in the uk: the british—iranian charity worker, nazanin zaghari—ratcliffe, has returned to prison in iran
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following a three—day release in which she was reunited with her family. now on bbc news, live to singapore for asia business report. the australians all gains ground against the greenback as the country ‘s new prime minister swears in his new cabinet. and some robots taste for radioactive waste is looking to clear up one of europe's most hazardous sites. welcome to this monday edition of asia business report. australia's new prime minister scott morrison has a new cabinet as he tries to heal serious divisions within his government. he took over the position after it occurred against his predecessor, malcolm turnbull.
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investors welcomed the move and the australian dollar climbed against us dollar. he says there needs to be a change in the political culture moving forward. issues of bitterness and think that arise from these events, that has to go because australians expect us to focus on them rightly. icq the other day, we are on your side, we share the values of australians that that is what drives our policies and that is what drives our policies and that is what must write our behaviour also. for clues on how this could impact prospects on the australian economy, shane oliver says he actually doesn't expect to see any big changes in the short term. to be honest, i did see it huge impact on the economy short—term because the tea m the economy short—term because the team that has taken over, particularly the neutron —— the new prime minister and the treasurer we re prime minister and the treasurer were previous architects of the previous policy. we wait see a radical change coming out of
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canberra, there might be some fine tuning upi canberra, there might be some fine tuning up i certainly wouldn't expect to revise our economic forecast. the main worry is this latest bout of leadership turmoil will lead to a hit to confidence and we have seen that in the past a particularly in the labour government in the earlier part of this decade that ongoing leadership instability did compromise fake. if we do see that, whether the new government announces perhaps measures to stimulate the economy. idc that happening for some time yet. —— i don't see that. idc that happening for some time yet. -- i don't see that. you said discovered wait see any major terms for any economic policy, but what about the markets and the currency? we have seen the australian dollar to this on friday, it strengthened to. it certainly did and i think with the events of last week highlighted is that the financial
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markets are nervous about leadership instability. even though global markets went up, the astro in sharemarket fell and we also saw the dollar come down on the back of that as well. then, when scott morrison was confirmed we saw a bit of a ounce back. a bit of relief in markets which is good news, i guess that uncertainty going on in terms of what sort of damage this has done to the government's standing in the opinion polls is still there. the markets will be on edge that it is they are fretting over whether there might bea they are fretting over whether there might be a change of government at the time of the next election. in other words, this instability has increased the risk that there may be a change of government. let's take a look at what else is making news this week. on wednesday we will be getting the revised reading on gdp from the us for the march tojune quarter. the initial reading showed an extension of 4.1%, the fastest
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pace of growth for years. the head of the federal reserve said that interest rises remain the best policy. on thursday, the japanese economy is in focus with a check on spending in terms of the household gauge as well as retail sales and will be rounding off the week looking for growth figures from india, chief economists say the chairman ‘s remarks come as a surprise. no big surprises. they will continue to hike interest rates and they have good reasons. we will have two more rate hikes this year and also the second key takeaway was they will not just and also the second key takeaway was they will notjust be looking at the real economy, inflation, but looking at where the financial market imbalance is. the other topic that came up
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imbalance is. the other topic that came up was imbalance is. the other topic that came up was the issue of trade tensions. we saw that round of talks between us and china last week. lead you see the trade spat between the two countries heading? it is hard. —— where do you see. i see it resolved adequately. i expect the trade war situation to escalate and deteriorate first visit, could before it improves happy —— before it improves. the macro implications of the current tensions are very limited. as the possibility of a gnabry that deal —— no brexit deal looms, lawmakers may lose their leveraged to negotiate new trade deals with other countries. the eu is as young's second largest trading partner after china, accounting for around 30%, that compares to the uk
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which accounted forjust i.5% around 30%, that compares to the uk which accounted forjust 1.5% of its export. chris humphreys is the executive director and says the new survey shows that britain sees key partners in this part of the world. i think you are sitting in whitehall, you would take notice of that. my counterparts at the asean business council think it is good for growth. uk should be looking here at in the future. how they can negotiate those deals will depend on how they can position themselves and strength of the trading relationship that they can establish with south east asia. you have put out this latest survey, showing that european businesses think free—trade businesses think free—trade businesses —— agreements with asean is important, but not moving quickly enough. an overwhelming majority said they wanted to be faster on free—trade agreements. they feel a competitive disadvantage with fta ‘s
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and the reason they had been largely on the commission's side as well as asean's side. there needs to be at better matching of common between the two. sellafield is one of the most contaminated industrial sites in europe. crumbling buildings are home to decades worth of accumulated radioactive waste. a legacy from the nuclear age. now its operators are ina race nuclear age. now its operators are in a race against time to make the most dangerous areas state. —— state. we got to see first—hand the scale of the problem and the technology being used in the cleanup. and in other news making headlines, or we have got —— china's right—hand link giant has suspended their carpel service after police said the driver had raped and killed a female passenger. the company admitted
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there were deficiencies in its process and it would suspend its system for re—evaluation. it is the world ‘s largest ride handling company by number of troops. the transport ministry has demanded action from the taxi company to ensure passenger safety. tesla's chief executives says the firm will remaina chief executives says the firm will remain a publicly traded one after he proposed to delist it a couple of weeks ago. elon musk said investors persuaded him it was the wrong course of action. tesla shares have plummeted and faces a series of lawsuits. the united states and mexico could reach a bilateral agreement as early as today, with new rules covering —— governing the automotive industry. disagreements between the two countries over the future of the north american free trade agreement had been a major hurdle to renegotiate the treaty which was eight campaign promise of donald trump. talks with canada are
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likely to stretch into september. has taken a quick look at the market and how some of them have opened a. the nikkei is up ever so slightly, taking its cues from wall street. we saw gains from wall street on friday and that is after the federal bank chief except —— said they did not accept a exhilarating to a straight increases its topic that is it for this edition of asia business report. this is bbc news. the top stories this hour: there's been a mass shooting in florida. three people are dead, many more are injured, after a gunman opened fire during a video game tournament. pope francis has ended his visit to ireland. he says he'll pursue justice for victims of abuse committed by the catholic church. the daughter ofjohn and susan cooper, the british couple who died at a hotel in egypt last week, has told the bbc she's
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convinced "something in their room killed them." kelly ormerod, who was also staying at the hotel, believes her parents didn't die of natural causes. egyptian investigators say no trace of poisonous gas has been found in the couple's room. our correspondent stuart flinders reports. john and susan cooper were on a family holiday at the red sea resort of hurghada when they were both taken seriously ill and died on the same day. their daughter, kelly ormerod, who arrived home in burnley this morning, was with them. at 11 o'clock, i went and knocked on the door, to see whether they were just having a bit of lie in and didn't want to be bothered. as i opened the door, i could see that my dad was extremely ill. he was staggering back to the bed. mum was laid on the bed and i could tell that something was seriously wrong with them. the egyptian authorities say the couple, both in their 60s, died from heart and respiratory failure and that an inspection
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of their room showed there were no toxic or harmful gas emissions or leaks. tests are now being carried out on food, water and air conditioning at the steigenberger aqua magic hotel, as investigators try to establish how the couple died. their granddaughter noticed something suspicious in the room the night they became ill. mum and my daughter went back to their bedroom. as soon as they went into the bedroom, my daughter said that they could smell something that was a little bit funny, that wasn't right. all they did, really, was spray a little perfume to try and eliminate the smell. they then fell asleep and my father came back to the room an hour later, and my daughter woke up and said she felt very unwell with the smell and she wanted to come and return to my room. the tour company, thomas cook, says it's looking into every possibility and expects it to be ten days before the results of tests at the hotel are known.
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this is just a solo investigation which are carried out —— john cooper was a builder. his wife, susan, worked at a travel agents in the centre of burnley. she is described as "loyal and long serving" and the shop has been closed for the past few days as a mark of respect. postmortem results are expected in the next few days, but it could be weeks before kelly ormerod is allowed to bring her parents' bodies home. stuart flinders, bbc news, burnley. the british—iranian woman, nazanin zaghari—ratcliffe, has been refused an extension, to her temporary release fromjail in iran. her husband richard, confirmed she'd returned to evin prison, after a three day release, spent with herfamilyjust outside of the capital tehran. she was given a five year sentence in 2016 and accused of spying, a charge she denies. now on bbc news, sport today. hello, i'm chetan pathak and this is sport today,
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live from the bbc sport centre. coming up on this programme: a late winner at newcastle ensures chelsea's ioo% start to the season continues. a huge crash in the belgian grand prix, but sebastian vettel steers clear of the pile—up to win and close the gap on lewis hamilton. and american bryson dechambeau leads the fedex cup playoffs after winning the northern trust in newjersey. thanks forjoining us on sport today. it wasn't easy, but chelsea maintained their 100% start to the premier league season with a 2—1 victory over newcastle at st james's park, to the delight of new boss maurizio sarri.
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