tv Asia Business Report BBC News October 30, 2018 1:30am-1:46am GMT
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i'm babita sharma with bbc news. our top story: the bbc has obtained a technical log showing indonesian flight jt610 had instrument problems the day before it crashed with 189 people on—board. the boeing 737 airliner got into difficulties shortly after taking off from the indonesian capitaljakarta. although a search continues there are no signs of survivors. president trump is to travel to pittsburgh later on tuesday in the wake of the mass shooting at a synagogue in which 11 people were killed. and this story is popular on bbc.com: tributes are continuing to pour in as leicester city mourns the loss of the club's owner and others on board a helicopter when it crashed outside king power stadium. you are up—to—date, stay with us. more to come here on bbc news. and the top story in the uk: in the final scheduled budget before britain leaves the european union, chancellor philip hammond announced the government is to sanction billions of pounds of extra spending. more on that to come, but here is
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sharanjit. oil prices heading lower this morning due to global stock market wea kness morning due to global stock market weakness and signs of rising global supply. and we will find out how the whimsical magical world of hello ruby is helping kids learn how to code. hello, and welcome to asia business report. i am sharanjit leyl business report. i am sharanjit leyl. oil prices has slipped this morning, dragged down by ongoing wea kness morning, dragged down by ongoing weakness in global stock markets and signs of rising global supplies, despite days before us sanctions on iranian oil come into effect with
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some of iran's biggest crude customers in the region, including the likes of india and china as well as turkey, and they are feeling the heat and resisting washington calls to end buying iranian oil, they say there are not sufficient supplies worldwide to replace the oil they buy from tehran. john smith served for ii buy from tehran. john smith served for 11 years as a top official in the us treasury department's offers and explains why america is taking and explains why america is taking an aggressive approach to these actions. from the beginning trump said it was not a good deal because it didn't include ballistic missile is, it had time limitations and he believes the iranians continue to foment discord in the region which he is wanting to end. most of the oil shipments from iran come to asian nations, like india, china, in credit in the reliant on these oil supplies, so can they stop buying it because of the sanctions? it will drive
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because of the sanctions? it will d rive costs because of the sanctions? it will drive costs up massively. the us would say they have done it before. they did it before in the ramp up on iran sanctions and they say other countries like saudi arabia are willing to step in. tell us about the impact on financial institutions and companies as well, notjust here in asia, but globally, if they are engaging in business with iran, or trading with them, what happens? engaging in business with iran, or trading with them, what happen57m isa trading with them, what happen57m is a tremendous impact because you have the weight of the us government on them, threatening them if they deal with iran, they will be targeted by the us. in what sense, how damage could this be? targeting by the us means being cut off from the us dollar, the us economy, every goods or services you get from the us, it could be extraordinarily damaging. fora us, it could be extraordinarily damaging. for a financial institution it is a death knell. the timing of the sanctions is quite intriguing, they come into play next tuesday, a day before the us midterm
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elections, so does it suggest something? i don't think it suggest anything with respect to iranian sanctions, it will impact russian sanctions, it will impact russian sanctions, at top topic around the world. in terms of the markets it is unlikely to destabilise the markets? markets have been playing with this already and they have understood the impact for a while. it will depend how tough the us is on november five, will they grant any waivers, oi’ five, will they grant any waivers, or will they say no to anyone? john smith speaking to me earlier. now, the end quality is so poor in delhi that india's top court described it as critical, pitiable and terrible and now authorities have asked 100 industries to shut down and not convert piped gas. for more on that i have india business report samir hashmi, so tell us how shutting down these industries might help with the air quality. well,
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sharan, it is that time of year in delhi. winter is coming. november, december, january is when the air pollution level in delhi worsens and they have already started seeing signs of it. yesterday on monday, the a01 was around 348, which falls in the severe, hazardous category. 0ne in the severe, hazardous category. one of the steps taken by authorities is they have directed 113 industries which are located inside the city and on the outskirts of the city to shut down because they haven't converted to petroleum natural gas which is a more safe form of functioning and it doesn't pollute the city. the other steps the authorities plan to take in the next few days is there it is a directive from the court now to impound diesel vehicles as well as those vehicles, petrol vehicles, which had been running for more than 15 years. the biggest issue is that
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this is a major contributor to our pollution levels. however authorities are worried that these steps might not be enough. after ten days, they have the festival of diwali, the largest festival, lots of crackers are burst it and pollution levels rise even further. so, yes, the authorities are worried. despite these steps being taken, there are worries that air quality could and would worsen in the weeks to come. all right, thank you for bringing us up—to—date on the story. in other news making headlines, the owner of cadbury reported a quarterly profit, edging past estimates helped by higher pricing and cost cuts. they have embarked on and cost cuts. they have embarked on a cost—cutting plan since 2014 to save around 1.5 billion dollars a year, the effects of which are starting to show on the company's margins. the compa ny‘s starting to show on the company's margins. the company's shares have risen in extended trading. us stocks suffered a volatile session after a report that the us
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is preparing to add tariffs to all chinese imports if talks between president trump and xi jinping fail and you can see it was not a great day on wall street with the s&p 500 falling over 2% before bouncing back to end still lower and the tech heavy index the nasdaq was just shy ofa heavy index the nasdaq was just shy of a correction, that's for the second time this year. now, our new york business correspondent gave us the rundown of the hardest—hit stocks. correspondent gave us the rundown of the hardest-hit stocks. well, it would come at no surprise that boeing was one of the hardest—hit stocks because they export 80% of what they manufacture in the us and much of those exports go to china so unsurprisingly the idea that these imports could be subject to tariffs means that many investors are worried that boeing products sold to the chinese market could be subject to retaliatory tariffs. in any case it is not good for the aerospace giantand
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it is not good for the aerospace giant and that's why we saw boeing shares plunge over 6%. that is their biggest fall since 2016. but of course it wasn'tjust boeing that led stocks lower. we've seen a sell—off in technology stocks and that has continued. we saw that amazon was lower by over 6%. google was also down as well as networks. and that is partially to do with the threat of tariffs. it is also to do with the fact that investors are worried that these companies, their shares have risen as high as they are going to go this year, and that the future won't be sunny for these technology companies. amazon, we saw they said that in its profit forecast last year, in its profit forecast last year, in its profit forecast released last week, that it expects its revenue to decline slightly compare to what investors we re slightly compare to what investors were expecting in the fourth quarter. now, teaching children coding skills is becoming increasingly popular and one finnish author has computer
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programming books aimed at children and the story centres around a little girl named ruby whose adventures help kids to think like programmers. let's look. my name is linda and i am at children's author, illustrator and programme from helsinki, finland. —— programmer. what does a programme do? i wanted to see programming as a tool of self—expression, as something that you can play and imagine and be creative with. and everything i saw was dull and grey and boring and i wanted to somehow show the more magical and fun side of software. so the way i got started was in the traditional
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publishing road. iactually started was in the traditional publishing road. i actually got my idea about a storybook about the world of software on kickstarter in 2014 and in a matter of days the project had gathered almost $100,000 and ended up gathering almost $380,000 and ended up gathering almost $380 , 000 with and ended up gathering almost $380,000 with pre— orders. the books always have a story about a little girl called ruby and her adventures and then they also have an plugged activities that teach you to think like a programme or make you build a computer out of paper. there are a lot of parents in schools worried about the screen time for kids and i would say that this is actually the last generation of kids that will remember that their computer is defined by the screen and the keyboard. for the next generation computers will be everywhere and it's important to think about the core ideas of computer science behind those devices. first, the really curious about the world. there is so much to
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learn and so much that we need to discover. then i would say, be very creative, because programmers at the moment are very homogenous, and there is a lot of perspective and voice and julie that, like, just being an outsider can bring into this industry. ——joely. and be really persistent. learning to programme requires a lot of work and it's not always easy, so being persistent is something i would underline for any future programme programmer. learning to programme with ruby. that's it for this edition of asia business report. thanks for watching. this is bbc news. the top stories this hour: search operations are continuing after an indonesian jet crashes into the sea with 189 people on board. the bbc has obtained a technical log showing the plane had instrument problems the day before the disaster. president trump is to travel to pennsylvania later on tuesday in the wake of the mass shooting at a synagogue in which 11 people were killed.
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seven men of pakistani heritage have been convicted of the sexual exploitation of five girls in rotherham between 1998 and 2005. one of the victims told the trial she had sex with at least 100 men by the time she was 16. this is the biggest number of convictions so far for operation stovewood — an ongoing investigation in to allegations of child sexual abuse in the town. bbc look north's tom ingle has this report. a wretched, familiar story. a new series of names. between them, they sexually abused five girls. iqlak yousaf, nabeel kurshid, asif ali, mohammed akhtar,
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salah el—hakam, tanweer ali. and a seventh man, who we are not legally allowed to identify. they would meet them in town, offering them friendship, drink, and drugs. the attention turned sexual, turned demanding, turned threatening. i don't think they gave a thought for their victims. and i think that they have not shown any remorse since that time up to now. that is probably exemplified by the fact that they have all pleaded not guilty to their actions and they have made the victims, who have shown immense courage to come forward and to tell their story, they have made them go through the ordeal of repeating that in front of a jury. one of the women in this trial told the jury how she was raped in a forest and threatened with being abandoned there. 0thers described being passed around amongst the men, who all knew each other. the abuse in this case took place between 1998 and 2005. at their incident room in sheffield, officers from the national crime agency are working on another 22 investigations, seeking to provejustice is now being delivered in rotherham. the council leader has urged other people who want to report abuse to come forward. the whole community in rotherham, we want to see people who were let down in the past get the support they need and be able
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to access justice. that is what this whole process is all about. but we will not be able to move on from that if people still feel like there are stories untold, justice undone, people who have not had their day in court. so i urge people to continue to come forward and we will support them. the jury were told these girls believed sex was the price of friendship. decades later, they still bear the emotional effects of what their abusers did to them. today's convictions were the result of a two—month trial. that is it from me. now on bbc news sport today. hello, i'm chetan pathak and this is sport today, live from the bbc sport centre. coming up on this programme: 14 games and out — real madrid sack manager julen lopetegui after the club's worst start in 17 years. top of the table — riyad mahrez scores the only goal
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as manchester city beat tottenham in the premier league. and as lewis hamilton celebrates his fifth world title, we ask if he can go on to become the best f1 driver there's ever been. welcome to the programme, thanks forjoining us. afterjust four and a half months in charge, real madrid have parted company with julen lopetegui. his sacking comes on the back of sunday's 5—1 thrashing by barcelona, which was real‘s fifth defeat in six matches making it their worst start in la liga since 2001. former player santiago solari has been named as the provisional replacement with former chelsea boss antonio conte being heavily linked with thejob. spanish journalist juan castro has been giving me his reaction.
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