tv Asia Business Report BBC News September 5, 2018 1:30am-1:45am BST
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as a storm batters japan. it's the strongest typhoon to hit the country in twenty five years, with winds of over 200 kilometres an hour. veteran journalist bob woodward has made explosive revelations about president trump's white house, claiming that even the president's closest aides see him as a danger to national security. and this story is trending on bbc.com. the ruby slippers worn by the american actressjudy garland in the wizard of oz have been found thirteen years after they were stolen. the shoes, said to be among the most valuable props in movie history, were taken from a museum display case in minnesota. and the top story in the uk: labour's ruling body, the national executive committee, has now agreed a new policy on anti—semitism to settle a dispute that's divided
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the party for months, and tested jeremy corbyn‘s leadership. now on bbc news, live to singapore for asia business report. first apple, now is on the online retail giant pushes over the $1 trillion mark. —— now amazon. will be chinese investment in africa pay off for both sides? bashing the. —— the. good morning asia, hello world. it is wednesday. glad to join us. —— glad you could join us. we start off with amazon and the e—commerce beating myth has done it. it briefly became the second us listed firm to
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have a market value of1 trillion us dollars. its shares rising nearly 2% toa high dollars. its shares rising nearly 2% to a high of 250 in morning trade before slipping back. apple reached the same milestone in early august. the trillion dollar milestone is all the more remarkable because for the nearly two decades that amazon has spent as a public company, it generally reported losses or negligible rocket. each —— property. each quarter, the ceo said he was reinvesting the money they generated into amazon's future. as of this week it seems that strategy has paid off. for amazon, the future seems quite bright. that is because even more so quite bright. that is because even more so than the other trillion dollar company, apple, amazon's business is geared to the future of how we will live both online and
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off—line. even though the company generates a significant amount of e—commerce sales, nearly 50% goes on like amazon, when it comes to e—commerce, it is only 10% of overall retail spending in the united states and that is what a nalysts say united states and that is what analysts say it will certainly grow in the future. also the web services businesses is continuing to generate record profits. that is a bit of a company that allows you to host a website using its cloud computing software. all of this combined means that when you think about the best word to describe amazon's surging share price, it is probably the name thatjeff bezos share price, it is probably the name that jeff bezos thought share price, it is probably the name thatjeff bezos thought he would originally named the company, relentless. leaders from more than 15 african nations have racked up a meeting with their chinese counterparts. the foreign minister has labelled it as the biggest
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summit of all kinds of the beijing has pledged $60 billion of development financing the african continent. what does get of one and other? —— one another. continent. what does get of one and other? -- one another. the promise to $60 billion from china goes into africa's most pressing infrastructure challenges, such as traffic jams. the money infrastructure challenges, such as trafficjams. the money builds roads, railways and ports and free trade lines that africa badly needs a. no wonder every african leader is leader was in beijing, except for the leader ross whiteley went. the problem is that african leaders can ta ke problem is that african leaders can take on more debt than they have paid and maybe in debt for china for yea rs paid and maybe in debt for china for years to come and might have to give natural resources in return. the chinese going out of their way to say this is a win—win deal, they are
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of each will benefit and china does not involve itself in internal affairs of african countries. also adding an extra $5 billion to try and support the market. if the chinese government is to be believed, what you get out of this development is african development. xijinping development is african development. xi jinping has announced another 60 billion dollars in aid, mostly thought that a shocker projects. however, critics of africa's beijing policy saying it is locking in influence using indebtedness. even though chinese loans are much more favourable than commercial institutions, some countries just won't be able to make the repayments, won't be able to make the re payments, so they won't be able to make the repayments, so they will a lot more than money when xi jinping's administration eventually forgives the debt. either way, administration eventually forgives the debt. eitherway, all administration eventually forgives the debt. either way, all african countries are said to have been represented at the summit as an
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indication of china's growing presence in this vast, ever more important part of the world. the international monetary fund says progress has been made to solve argentina's currency crisis. the south american country is seeking an event that payments of a $50 billion and use it against a run on its national currency. at neither side commented on how much money will be anticipated or how house in a deal should be reached. —— hywel. —— how. it will be a rough month for argentina. on tuesday, the finance minister had his first meeting with the imf and these negotiations may prove to last longer than previously thought topic the imf‘s managing is showing willingness to help argentina out, but it all depends on a vote id board. on tuesday, the president received a phone call from donald trump, the american
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president, saying that he is doing and excellent job handling president, saying that he is doing and excellentjob handling this crisis. but the markets do not seem to agree as the peso lost more value on tuesday. rising trade tensions could weaken the operating environment for banks in this region. report says that about a quarter of institutions believe that trade wars were the biggest medium—term threat for the outlook 01’ medium—term threat for the outlook or asian banks because it will reduce demand for trade finance of the 33% were most concerned about bubbles bursting, while 31% cited monetary policy tightening, higher borrowing costs as a threat to profitability. earlier, ispoke borrowing costs as a threat to profitability. earlier, i spoke with jonathan corniche, managing director, about his views about the ongoing crisis. all right, moving on 110w ongoing crisis. all right, moving on now to other business news. silicon valley‘s biggest players will face
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us policymakers on capitol hill, grilled for their role in the spread of political propaganda and misinformation. the twitter and facebook cheats will be questioned by the us senate intelligence committee over russian meddling in the 2016 presidential elections later today. nike shares falling almost 3% for their choice of colin kaepernick as their choice of colin kaepernick as the face of their just their choice of colin kaepernick as the face of theirjust do it campaign. protesters burned their nike shoes and some consumers demanded a boycott after the footwear and apparel maker launched the advertisement. this week we are looking at some of the biggest start—ups that are emerging in latin america. brazil has free universal healthcare provider by the
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government, but the system is very overcrowded. so a group of entrepreneurs came together to create a cheaper alternative in sao paulo. the bbc spoke to the founders of dr consulta, a start up at last year created $100 million of investment and has become one of the biggest health companies in the country. imagine you are a brazilian, most likely when you try to see at, you have to spend three days in a queue to see a clerk in a public clinic she will book you an appointment in three months to see a general practitioner and the general practitioner, in three months, will most likely see you and look again with a specialist to see you again in another three months. that is insane. we spent two and half years with
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only one medical centre inside the largest area of sao paulo. our idea was, let's go to the hardest area, if it works and there it is going to be able to work in sao paulo. the toughest market in brazil, then we can roll out nationally. our view is that there is a lot of waste in the system. we have nailed the model. we have close to1 million unique patients. this places us as million unique patients. this places us as one of the largest healthcare companies in south america. that was dr consulta, a healthcare
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company online in sao paulo, brazil. looking at the markets. selling pressure in early asian trade as wall street stocks retreated after the labour paid —— labour day holiday. investors also worried about the china us trade dispute. the nikkei falling by 64 points in early tokyo trade and the all ordinaries index losing 16 points in mid—morning sydney trading. a0 summitfor mid—morning sydney trading. a0 summit for investing your time with us, iam summit for investing your time with us, i am rico summit for investing your time with us, iam rico hizon, sport summit for investing your time with us, i am rico hizon, sport today is coming up next. —— thank you for investing your time with us. this is bbc news. the top stories this hour: japan is hit by the strongest typhoon in 25 years. more than a million people have been told to leave their homes. an explosive new book about life in this white house. thejournalist, bob woodward, who helped bring down president nixon, now turns his sights on donald trump. the metropolitan police
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commissioner, cressida dick, says social media companies should hand over vital evidence connected to criminal investigations within minutes of it being requested. it comes after hampshire police were unable to access the facebook account of the man suspected of murdering a 13 year old girl in southampton in july, because he wouldn't give them his password. duncan kennedy reports. it's ok to grieve. it's ok to be upset. for pupils at lucy mchugh‘s school in southampton, the excitement of the first day of term was mingled with the sadness of her death. in a special assembly, they remembered her and listened as the head teacher spoke of lucy's irrepressible personality, and how her loss had touched everyone. it's ok to cry. i've cried. a lot. it's ok to feel sad. it's ok to feel down. lucy, who was 13, was seen in this
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security footage the day she disappeared in july. her body was later found in woodland next to a park in southampton. she'd been stabbed. police arrested a man called stephen—alan nicholson on suspicion of murder. he was not charged, and was later given bail. but last friday at southampton crown court, he was jailed for 14 months forfailing to give the police the password to his facebook account. he had pleaded guilty to breaking a law calling on people to disclose passwords in a police investigation. today the head of the metropolitan police said companies like facebook should unlock these accounts much more quickly. law enforcement in the uk ought to be able to have vital evidence which might bring somebody to justice. within minutes rather than through some protracted process? absolutely, but there are complex practical and legal things for them, which i do respect. and lucy mchugh‘s mother agrees with that, saying facebook should
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unlock this account and hand over the details to the police. stacey white says it would be easy for them to do so, and all she wants is justice for her daughter. but facebook says it's bound by a legal agreement between the united states and britain governing access to its data, and it says it can't just bypass the system. the police say they have other lines of inquiry while access to the facebook account is resolved, and say they need every tool possible when investigating the most serious of crimes. duncan kennedy, bbc news, in southampton. now on bbc news, sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: defending women's champion
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sloane stephens is knocked out of the us open by anastasija sevastova. team usa captainjim furyk has selected tiger woods, bryson dechambeau and phil mickelson as three of his four captain's picks for the ryder cup later this month. and denmark's football team could pick a side including futsal players against wales this weekend. hello and welcome to the programme, where we start with tennis at the us open in new york, and six—time winner serena williams is through to the semi—finals after a straight—sets win over karolina pliskova. the 20—time grand slam winner was a 6—4, 6—? winner and will now face number 19 seed anastasija sevastova after she knocked out defending champion sloane stephens, also in straight sets, 6—2, 6—3.
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