tv Asia Business Report BBC News February 8, 2019 1:30am-1:46am GMT
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was the victim of a brutal and premeditated killing by saudi arabian officials. agnes callamard said she was given access to "chilling" audio material during a visit to turkey. the head of instagram has vowed to remove all images of self—harm from the image—sharing app after an outcry over the suicide of british teenager molly russell. and this story is trending on bbc.com: nasa scientists have revealed their findings about a new south pacific island that literally rose out of the sea, when a submerged volcano erupted in tonga, in 2014. that's all. stay with bbc world news. and the top story in the uk: the bank of england expects economic growth this year to be the slowest since 2009. it's forecasting growth of 1.2% this year. now on bbc news live to singapore
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for asia business report. heads roll at national australia bank, the lender's germany chief executive resigned after this week's blistering royal commission report —— chief executive resigned. slam dunk, how one of the allders biscuit makers is reinventing itself. —— old est makers is reinventing itself. —— oldest biscuit makers. good morning, asia, hello, world. it isa good morning, asia, hello, world. it is a friday, the weekend around the corner. glad you could join us for this edition of asia business report. i am this edition of asia business report. iam rico this edition of asia business report. i am rico hizon. this edition of asia business report. iam rico hizon. we this edition of asia business report. i am rico hizon. we start with australia and the report into
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the country's banking industry has cleaned its most high—profile scalps today. the chairman and chief executive of national australia bank resigned on thursday in the wake of the blistering rebuke earlier this week. the royal commission's final report on monday singled out ken henry and andrew thorburn for harsh criticism, saying they had not learned the lessons from past misconduct. this analyst told me how significant is that they both quit at the same time. it is a big deal. it really opens the possibility for a whole raft of lawsuits as well as further restructure by the of the industry. and then the question is who is going to step into those shoes to restore the confidence for the entire industry? who do you think will step in for these two executives who left the company? should they be looking outside of national australia bank or within? the preference would definitely be
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looking outside, just given some of those wrongful practices and aggressive lending practices, it has been so severe that you really need someone been so severe that you really need someone with a very strong background in the financial services industry to restore the confidence to be able to lead the restructuring of that business. and how does this royal commission report is impact the reputation of australia's banking sector? over the last eight months there have been many cases that have been exposed on aggressive lending practices, on the wrongful doings, andi lending practices, on the wrongful doings, and i think some of the behaviours of a lot of executives has been quite defensive. and i think this national bank, the senior executive being singled out is to set an example that the senior executive needs to be responsible for some of those issues, rather than just to restructure some of the
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lower position personnel. so it is incredibly important going forward for the industry to take that into account. briefly, what is your recommendation now about the australian banking industry for your investors ? australian banking industry for your investors? it will be pretty tough going forward for the next 12—18 months. the housing market is slowing down. a restructure on the cards, a potential lawsuit coming through, it is hard to see the industry growth in any way, shape, oi’ industry growth in any way, shape, orform for the industry growth in any way, shape, or form for the next 12 industry growth in any way, shape, orform for the next 12 months. national australia bank in shares currently trading in sydney, it is down by about that of a percent. in other business news, amazon's 0ther has accused american media incorporated, the owner of controversial cheryle liberty magazine the national enquiry of blackmail. it's as there were enough is from the publisherlegal team to publish intimate photographs of him
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and a woman with whom he was having and a woman with whom he was having an affair. aemo has not responded to the bbc‘s request —— ami. incidence is that all graphic images of self—harm will be removed from the platform. that comes after the father of molly russell, who took on life in 2017, said instagram helps kill his daughter. we were not as focused as we should have been on the risks that came along with connecting so many people. that's a lesson i think we have learned over the last few years. i think we have an immense amount of responsibility. i think it is clear that we are not yet where we need to be on the issues of self—harm suicide. australia's flagcarrier qantas has seen a australia's flagcarrier qantas has seen a dramatic turnaround under its boss alan joyce. seen a dramatic turnaround under its boss alanjoyce. the irish native made headlines for grabbing the entire fleet in 2011 in a stand—off with unions. he was also voted one of the world's top lgbt executives
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for his support for legalising same—sex marriage is in australia. aaron heslehurst caught up with him and asked him about gulf country is subsidising the national airlines. what we have said and it is notjust for qatar, it is a loss of air services, that we think that's the americans are doing it, then is to beafair americans are doing it, then is to be a fair condition clause. we are not covered by the wto. you cannot ta ke not covered by the wto. you cannot take dumping cases. it means that people have two act fairly and not undercutting just to get airlines to be removed from roots. you tony gubba degrees without. the opposition agrees with that. that has been added to the agreement —— the australian government agrees with that. project sunrise. london to sydney non—stop. when? with that. project sunrise. london to sydney non-stop. when? boeing and airbus both have a aircraft. it will become available in 2022. both manufacturers are keeping slots for
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qantas. we can make the business case work and everything come together, we put an order in easy for aircraft arriving in 2022. i think i last frontier of aviation. i'd talked today, when we started in 1935, it was 31 stops on the way to london. it will be no stops. it will be direct. you are very verbal, very vocal when it comes to social and political issues. you say a ceo who is just focusing on political issues. you say a ceo who isjust focusing on profit political issues. you say a ceo who is just focusing on profit and loss is just focusing on profit and loss is not a good ceo. why do you do that? i think we all, a lot of companies have a social licence to operate. we are part of the community, part of society. if we don't participate and have a view and actually work on things that we think and has the position of our customers or employees or shareholders, that is part of the job. one of the things in marriage equality, for example, in australia, qantas was at the forefront, i was at the forefront. we have some abuse. i had a guide through a pie
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in my face. we had a senior minister telling us to keep to our knitting. minority groups, lgbtiq miernicki, indigenous, at invalids, they represent nearly altogether 30% of the market. they are five times more likely to travel on a brand they think represents them —— the community. alan joyce there. community. alanjoyce there. a popular teatime snack and a staple in many indian households, home—grown biscuit brand is one of the oldest names in the country. looking at the food empires around asia we focus on how this family owned snack maker is reinventing itself. music plays. they also sold in 100
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countries, including us, mexico, and africa. the biscuit maker has been profitable in its 80 year history and is now run by the grandson of the founder. it started its first production with a toffee in 1929 and then moved on to low—priced biscuits. in india, having a cup of tea is an occasion to meet friends and family. and that is where the slope price company has found a lower base. when customers prefer to have cheap snacks. that has resulted in an estimated turnover of $700 million. biscuits are still one of the cheapest package who is out there. our philosophy as a family was to keep this product at that price point so we could reach as many people in india as possible. that formula has worked so far. but
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now consumers with higher incomes wa nt now consumers with higher incomes want more from the biscuit maker will stop more variety, more flavours. can they deliver? because our name has been synonymous with the low—priced biscuit people find it hard to believe that we can come up it hard to believe that we can come up with something which is world —class. up with something which is world—class. so hide and seek. chocolate chip cookie is the highest volume seller in india. people don't really know that. at 14 cents a packet, the original biscuits have provided the confectionery empire with global ambition. the next few yea rs with global ambition. the next few years will be a real test for the company, to see if it can find ways to grow its product range from its humble beginnings. and before we go, here is a recap of our top story. australia's banking industry at the forefront of a major report from the royal commission, which has claimed its most high—profile scalps today, the
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chairman and chief executive of national australia bank resigned on thursday in the wake of the blistering rebuke earlier this week. the royal commission has singled out ken henry and andrew thorburn for harsh criticism, saying they have not learned lessons from past misconduct. in mid—morning trade, an eb shares, currently trading down by 0.7% -- nab. it is eb shares, currently trading down by 0.7% —— nab. it is impacting the all 0rdinaries. thank you so much for investing your time with us. i am rico hizon. sport today is coming up next. this is bbc news the top stories this hour: the journalist jamal khashoggi was the victim of a brutal and premeditated killing by saudi arabian officials — according to a un investigator. instagram says it's removing all graphic images of self—harm, after an outcry over the suicide of a british teenager. children should be stopped
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from using mobile phones and tablets at meal times, and devices should be kept out of their bedrooms at night. that's the basis of the first—ever guidelines on screen use, from the uk's most senior medical advisers. hugh pym reports on the recommendations. on average, i spend around three hours a day online, looking at a mixture of social media, entertainment, and watching tv or tv series and also using it for my homework. about two hours that i spend on snapchat, instagram, and other social media, looking at my friends' photos. i use maybe half—an—hour each day, maybe looking up sites or watching youtubes. school kids tell us what they think about social media and using their screens. gosh, it's good. here, they're taking part in workshops on internet safety, including storytelling. she started looking at everything that popped up on her screen, hoping for an upgrade, till it came to the point where she never read anything, just clicked 0k. we took two of the pupils at the conference to meet
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england's chief medical officer to talk about the new guidelines. how do you advise families to put these recommendations into use? not taking your phone or smart device to the meal table is not a bad thing, because then you've either got to talk about the food or something else. so it's a way of kind of improving interaction that helps development. no phones at bedtime and regular screen breaks are also part of the new advice. the boy was curious and bored and decided to create a social media account. he lied about his age, as he was only nine. however, he kept this a secret. ensuring that children don't lie about their age when they sign up for social media sites is essential, according to the chief medical officer. she wants to see the technology companies invest whatever is needed to bar those who are under 13. i don't accept that age verification isn't possible. it may require some investment in order to do it effectively, but they have to come up
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with a proposal and they have to fund it. so what's the reaction to all these guidelines? i think it is necessary. however, it will be kind of difficult to enforce. i mean, unless you get the parents on board so that they are enforcing it within the household, it will be kind of a difficult thing to do. the report says the internet can do a lot of good for children when they are learning. the message is precautions taken now will minimise risks in future. hugh pym, bbc news. there is a lot of food for thought in that report by hugh pym. you can reach me on twitter — i'm @bbcnuala. now on bbc news — sport today. hello, i'm marc edwards, and this is sport today,
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live from the bbc sport centre. coming up on this programme: horse racing in great britain on lockdown until next wednesday after an outbreak of equine flu. aleksander ceferin has been re—elected as uefa president after running unopposed. and with mikaela shiffrin not competing, we'll assess the contenders for the women's combined at the world ski championships in sweden. hello, and thanks for joining us on sport today. all horse racing in great britain has been suspended due to an outbreak of equine flu. more than 100 training stables, including those of leading trainers paul nicholls and nicky henderson, have been placed in lockdown as the british horseracing authority seeks to contain the outbreak. there were supposed to be four meetings on thursday, but they were called off after three horses, which had all been vaccinated against the disease, tested positive. there are now concerns for next month's world famous cheltenham festival.
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