tv Asia Business Report BBC News October 8, 2018 1:30am-1:45am BST
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this is bbc news. our top story: chinese authorities confirm that meng hongwei, the missing interpol chief, is in the country. beijing say he is suspected by the country's anti—corruption body of unspecified breaches of law. his wife has appealed for international help to find him. the first exit polls in brazil's elections suggest that the far—right candidate, jair bolsonaro, has done well. he's projected to take 45% of the vote, ahead of the left—wing workers party candidate, fernando haddad. and this video is trending on bbc.com. it's the lion cub, thought to be four or five months old, which was found in a small cage outside the dutch city of utrecht by a jogger. vets say it was very stressed by its ordeal, but otherwise healthy. it's now being cared for in quarantine at a wildlife park. that's all. stay with bbc world news. and the top story in the uk — the scottish national party leader nicola sturgeon has said her party's 35 mps would vote in favour of another eu referendum — if given the opportunity to do so at westminster.
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now on bbc news live to singapore for asia business report. as the eye and effort prepares to meet in bali, the group tells the global economy to prepare for the next financial crisis. and it has been a golden week to travel in china. check out the trends for chinese globetrotters. —— imf. we will kick things off with the business and economic events we are watching this week. on tuesday, world leaders will meet in bali, indonesia, for both the imf and
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world rank meetings. fast forward to thursday and we will get a clearer picture of the us economy at us unemployment falls and the aspect of china's tariffs play out on the consumer prices. “— china's tariffs play out on the consumer prices. —— world bank. we will see singapore elle is launched the longest commercial flight —— airlines. flight time will be 18 hours and 45 minutes. and rounding off the week, some trade week figures from china. i spoke earlier with michael mccarthy in sydney and asked for his take on the upcoming meetings in bali as the international lender warned last week that the economy is at risk of another financial meltdown. we are seeing another financial meltdown. we are seeing pressure on another financial meltdown. we are seeing pressure on markets around the globe. the us is trading at a seven—year high yields and it looks like it could be heading further. at these low levels of interest rates, a lot of debt has been built up and if rates continue to rise, it might
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not be rollerball. —— rollerball. —— rolable. chip talked about interest rates rising —— you talked about. what are you anticipating and what might it single for the markets? the core level of inflation is running at 2.2% in the us. it might edge up slightly. that is one of the key concerns, if those figures were to come in higher than expected, we are likely to see an extreme market reaction that will speak to exactly those fears that markets are concerned about and could start some very tough trading. amid these inflation pressures, there is talk about trade tensions between the us, the world's biggest economy and china, the world's second largest. chinese trade data is due out and what do you expect there? how are
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they boosting their economy? they announced yesterday they will be cutting the reserve ratio rate and thatis cutting the reserve ratio rate and that is the amount that banks are allowed to lend. they want banks to be able to lend even more. what is happening in china? it is clear authorities in china are taking the trade dispute very seriously. previous to the outbreak of disruptions to global trade, china was on a deal —— that deleveraging move. they are lightening the reins and cutting the economy. it should release 1.2 trillion us back into the monetary system in china. we are expecting to see a further surplus this week. —— it will speak to their
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concerns that the white house continues —— continues to raise. —— yuan. there is a mission to de—escalate those tensions. there are travel to tokyo, pyongyang and seoul. mr pompeo's beijing stopover comes at a time of deep mistrust. about half of the total are already subject to us tariffs in an escalating trade war. president trump is threatening to slap even more import you tease on almost everything china sells to the us. beijing which accuses washington of protectionism and bullying, has retaliated with tariffs on about $110 billion of us retaliated with tariffs on about $110 billion of us goods. it is running out of ammunition due to its huge trade surplus with the us which may look at other ways of potentially hitting back. throwing
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up potentially hitting back. throwing up fresh barriers to american businesses. millions of chinese are returning to work and that is after enjoying our workforce golden week. with growing disposable income, many people are choosing to spend more on travel. i spoke to someone looking at trends on this and there is a growing appetite for visiting far—flung destinations. growing appetite for visiting far-flung destinations. japan has usurped hong kong as the number one place but also france and australia moved up into the top five, pushing down places like korea and thailand. the key word here is a further afield. they are taking longer trips. it used to be seven or eight days as a typical duration. today, it is eight or nine days. what this means is more spend. what you can see from our means is more spend. what you can see from oui’ survey, means is more spend. what you can see from our survey, chinese international travel monitor, spends are up 110% year—on—year and these are up 110% year—on—year and these are big numbers. it will have a big impact on the industry. it is
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interesting you said numbers are down to south korea because we knew they were political issues between china and south korea which meant china and south korea which meant china limited the amount of two groups heading to south korea. what impact do something like that have on the sheer volumes of people travelling? i think that will always be ads and close to the travel industry. it may be a national disaster, it may be political friction like we saw in south korea. the bigger question here is what motivates travellers from china to go to places and especially chinese millennials which are now driving a big part of that activity. it tends to be new experiences. over 60% of those surveyed said they wanted to go to those surveyed said they wanted to gotoa those surveyed said they wanted to go to a new country. then you had the social media angle and the social currency you get from taking a selfie within your network. the eiffel tower or loss vegas won't cut it the way it used to. it has been 20 years since the launch of google.
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these days, and everyday task can seem like a struggle without the help of the internet. the high adoption rates of web and services means investment in broadwood —— broadband. akamai has been developed to look at this. i spoke to the chief executive. think delivering content on the edge of the internet where you are closer to the user, it it's a big part of the future. other security is also critical. as you know, the rate and sophistication of attacks has increased dramatically. confidential information being stolen, bank accounts being stolen, denial of service attacks to interrupt business so security is critical. you talk about the data being stolen and we have data on that some 8 billion militias login detects. —— malicious. how dire is
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the problem in keeping data safe? what is being done about it? the problem in keeping data safe? what is being done about mm the problem in keeping data safe? what is being done about it? it is a big problem and increasing. pretty much everywhere, qc major enterprises at losing their sensitive user data. —— you see. having a firewall or the proverbial moat around the castle just doesn't work any more. it is way too easy foran work any more. it is way too easy for an employer to go to the wrong website, click on the wrong link, bring the malware into the enterprise. then it spreads. it ta kes a enterprise. then it spreads. it takes a couple of hours to spread but a couple of months to catch. you need new technologies to stop this. the paris motor show. one of the biggest gatherings in the industry is gathering in the french cassock
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—— capital. there are shiny new model is going on sale and a few exotic machines that may never go into production. these are, the cool ca rs into production. these are, the cool cars that money can't buy. we have been looking at some of the most awe—inspiring models on display. some creative concepts they're. now, polls have closed in brazil. —— there. it is the most polarised contest begins. far right politician jair bolsonaro has just fallen short of outright victory. he is predicted to ta ke of outright victory. he is predicted to take 115% of the vote ahead of the left—wing workers party candidate, fernando had out. the two front runners will now face each other in the run—off in october. —— fernando haddad. that is it for asia business report. this is bbc news the top stories this hour.
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after two weeks of silence china confirms the head of interpol, meng hongwei, is being investigated for suspected violations of the law. as indonesia plans to end the search for earthquake survivors on thursday, there are fears there could be thousands of bodies in the city of palu. around 5,000 people are still unaccounted for. the scottish national party leader nicola sturgeon has said her party's 35 mps would vote in favour of another eu referendum — if given the opportunity to do so at westminster. her comments are a boost to the campaign for a so—called ‘people's vote' — although the first minister said the real solution for scotland was independence. it comes as theresa may seeks to strike a deal with the eu in the next few weeks — that would then need parliamentary approval. our scotland editor sarah smith reports. calls for a second referendum on the terms of brexit were accompanied through central
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london today by hundreds of dogs. their owners delighted to hear the snp now support their cause. while labour has not ruled out supporting a so—called people's vote, theresa may has said it will not happen. nicola sturgeon told the andrew marr show that, faced with a choice between a cobbled—together brexit deal or no deal at all, mps should look at an alternative. there's no doubt the calls for a second referendum would grow in those circumstances, and i've said before, we would not stand in the way of a second referendum, a so—called people's vote. i think the snp mps would undoubtedly vote for that proposition. they would? that's a very important moment. the snp are the largest uk party to party to commit to a second referendum on brexit, with 35 mps now prepared to support it. but for many nationalists, that's not the referendum they really care about. tens of thousands joined a march in edinburgh yesterday in support of a second referendum
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on scottish independence. opinion polls published today suggest support is growing, but the question is when to call another vote. as soon as possible because we are out of europe by april. when would it be right to have another independence referendum? two years after brexit. i think then we will see the damage that's been done to the scotland's economy. i understand why there is a delay, because you need to find out what the terms of brexit are before we have a second referendum. nicola sturgeon promised an update on the timing of an independence referendum this autumn. now she says we must wait until we know the details of any brexit deal. the challenge is how to maintain her supporters‘ enthusiasm as she keeps them waiting. sarah smith, bbc news. we have lots more on our website and
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you can get in touch with me and many others on a social media. lewis will be here at two o'clock but now all the sports news with chris. hello, i'm chris mitchell, and this is sport today, live from the bbc sport centre. coming up on this programme: city pay the penalty. riyad mahrez misses from the spot as liverpool and city draw. world number two caroline wozniacki wins her third event of the season at the china open. and more of a spint than a marathon as mo farah breaks records in chicago. we were all so excited... we had good reason to be excited. last season. . . in four games liverpool and manchester city
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