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tv   Asia Business Report  BBC News  March 26, 2019 1:30am-1:46am GMT

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i'm babita sharma. our top story — theresa may has suffered another brexit defeat in the british parliament. mps have voted to take control of the parliamentary agenda on leaving the european union. they're now expected to hold a series of indicative votes to help decide what to do next. israel has carried out air strikes in gaza after a rocket hit a house near tel aviv. several more missiles were fired into israel from the palestinian territory on monday evening. and this story is trending on bbc.com. a british airways flight destined for dusseldorf in germany has landed in scotland by mistake after the flight paperwork was submitted incorrectly. the passengers only realised when the plane landed and the "welcome to edinburgh" announcement was made. the plane was redirected and then did manage to land in dusseldorf. you are up—to—date. stay with bbc world news. coming up: we report from the birmingham primary school where the chief
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executive says she won't resign following protests by some parents about lessons on lgbt equality. that is coming up. first, here is rico. fresh defeats for the uk prime minister in an unprecedented move. mps minister in an unprecedented move. m ps voted minister in an unprecedented move. mps voted to seize control of the brexit process. bigger apple. the giant unveils a new tv streaming platform. it was at a star—studded eventin platform. it was at a star—studded event in california. good morning, asia. hello, world. it is tuesday. glad you could join us foran is tuesday. glad you could join us for an exciting addition of asia business report. let's start off with the uk struggles to agree to a plan to use —— leave the european
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union. members of parliament has voted to take control of the house of commons. the unprecedented move comes as lawmakers attempt to find a majority for any brexit option. we earlier asked our expert why the pound has not moved so much on the news. i think a lot of pundits out there might say, might not use the word complicated. they might have other words at this stage. i believe the financial markets from the very start of this whole process have been strongly anti— brexit. for them, any processes that decrease them, any processes that decrease the likelihood of a hard brexit or get rid of brexit altogether and the end result for this will be a very long extension will be regarded as positive by the financial markets and that is why we haven't seen the sterling fall this morning. any views on how this will impact asia? i think it is a very localised issue, shall be called that, towards europe. for asia, the bigger picture
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here is the us china trade talks and the direction of interest rates around the globe this year. brexit isa around the globe this year. brexit is a very localised issue, with the exception of the british pound, asia will not really be paying a lot of attention. for asian businesses, they just want a brexit attention. for asian businesses, theyjust want a brexit in any shape oi’ theyjust want a brexit in any shape orform. theyjust want a brexit in any shape or form. they want certainty. yes, and this is what markets actually prefer. they prefer uncertain —— certainty. you look at the thailand election, they prefer certainty and this is what they want from brexit as well. we just want to know what is going to happen one way or another. is there quite a fatigue right now among investors when it comes to brexit? if you bring it up ina comes to brexit? if you bring it up in a conversation these days, people hang their heads and put their fingers in their ears. there is a lot of brexit fatigue around but we are approaching a pretty interesting endgame. the eu, i would
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are approaching a pretty interesting endgame. the eu, iwould be questioning who is actually in charge in the uk because it is a very confusing situation. that was oui’ currency very confusing situation. that was our currency expertjeff haley. apple has unveiled a new television streaming platform at a star—studded eventin streaming platform at a star—studded event in california. the iphone maker has its own credit card and an enhanced news application. we have the latest from the technology giant's headquarters. as we were expecting, apple brought out this day our names, steven spielberg, reese witherspoon, steve correll. we even saw big bird from sesame street all saying the same thing. they are signed up, ready to glow and ready for the service. on top of that, apple will also have other content providers within its tv portal that you can pay for an access tv portal that you can pay for an a ccess as tv portal that you can pay for an access as well. the big question is precisely how creative will apple be with his new stars. it will spend around $2 billion we understanding
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creating that stuff. what we don't know steel is how much it will cost, so know steel is how much it will cost, so until we hear about that is we don't know how much sure to the likes of netflix it will be. apple also announced a new subscription service that will cost $9 99 a month. it will give you access to around 300 magazines and a couple of newspapers. perhaps the most interesting thing they showed up was the apple card, credit card they made in partnership with goldman sachs and mastercard. it will be heavily built into your phone. what this is about is of course apple trying to spend much more money than the devices it already has in more than a billion people's hands around the world. if they can manage that, they can become an even richer company than they are now. the foundering chairman of the struggling in the airline jet airways is stepping down from the board. it will see lenders taking a
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controlling stake in the carrier. we have the latest from mumbai. 26 years after starting india's old est 26 years after starting india's oldest private carrier, he will step down from the board of the airline. not only that, his wife who was also pa rt not only that, his wife who was also part of the board has resigned. he will no longer be the chairman of the company. all the decisions were taken atan the company. all the decisions were taken at an emergency board meeting that was conducted on monday. the lenders have decided to convert the debt that was issued to mr goyal and his family into equity which will reduce the family's stake significantly. lenders have announced they will be investing close to $210 million in the next few days to help stabilise operations at the airline. jet airways have cancelled thousands of floods in recent weeks because they have to grow more than two thirds of their fleet. at the start of the year they had close to 120 aircraft as part of their fleet. this has
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significantly affected operations because they don't have cash flows, and that is why the lenders feel that if they are able to enhance their operations, it will help bring in more cash to the company, which is much needed in this point of time. the banks have also announced they will be looking for a fresh investor, and as part of that process , investor, and as part of that process, they will be asking parties to submitand process, they will be asking parties to submit and hoping to identify a new investor in the next two or three months. in a row removed, the indian government headed by the prime minister has asked state run banks to bail out the airways because the biggest concern is if they going bankrupt, that will impact 23,000 jobs and that is the last thing the government wants given that the national election is starting next month. the other big concern was airfares, which had shot up concern was airfares, which had shot up significantly over the last few weeks because of the shortage of floods in the market after they start rounding its aircraft. the government is hoping that when they are able to resume its operations, thenit are able to resume its operations, then it will help bring, stabiliser
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airfares in the next few weeks. same with aviation business, and france and china have signed a $30 billion deal with our bus for 300 aircraft. —— airbus. it is a blow to rival boeing after its aircraft was involved into crashes injust rival boeing after its aircraft was involved into crashes in just five months. as us and china negotiators prepare forfresh trade months. as us and china negotiators prepare for fresh trade negotiations this week, intellectual property remains a key sticking point. two weeks ago if beijing approved a new law it says will better protect foreign companies. but it is also pressure from domestic businesses that has forced china to act. this was the scene of a very modern crime. two years ago in a plastics recycling factory on the southern outskirts of shanghai, someone stole a horde of intellectual property and got away with it.
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one of my it managers copied 10,000 pages of my entire company's profile, including our technology information, our customer list, our purchasing and supply information, everything, and our formulas. 10,000. and he is establishing another company. frank's story is increasingly common in china. some of the original idea behind is 25—year—old firm stolen by an insider, and he feels he has no recourse. today, any people in a company, very easy to steal. it is not, we worry about people outside to steal our information. what i worry is about people inside to steal the information, and they don't get caught. this is not a glamorous business, but it is a big business. there are mouldings going to brazil, russia
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and the uk. the man behind it has invested hundreds of millions of dollars and he says if he can't get his original ideas protected, what chance of china's innovators of tomorrow got? but things are changing. china has created ip specialist courts, albeit subservient to the ruling communist party. chinese are nowjust as litigious as foreign firms and the trade war has let up the pace of reform here. resident she's limping recently led lawmakers and approving new rules for foreign investors recently led lawmakers and approving new rules forforeign investors —— president xijinping. now comes enforcement. we want to see cases of the local courts and also enforcement agencies implementing this law and that is beneficial to owners. mehran — met many a foreign company has been stung over the years. some in china's booming fruit business still refuse to risk your ip. they
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wa nt to still refuse to risk your ip. they want to buy new conveyor belts but the european manufacturer said no, they feared their assistance would be copied here and they would be wiped out. let's have a quick look now at the asia pacific markets, and they have broken the global stock market losing streak. currently in the mid—morning, asian trade, the nick caveis mid—morning, asian trade, the nick cave is up by 1.6%. the all ordinaries gaining 1.4 and the hang sengindex ordinaries gaining 1.4 and the hang seng index isjust open ordinaries gaining 1.4 and the hang seng index is just open for trading, up seng index is just open for trading, up by seng index is just open for trading, up by 0.5%. thank you very much. thought today is coming up next. —— sport today. this is bbc news. the top stories this hour: mps have voted to take control of the parliamentary agenda on leaving the eu in an attempt to find a majority for any brexit option. israel has carried out strikes on hamas targets in the gaza strip hours after a rocket hit a house north of tel aviv.
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a woman in charge of a primary school in birmingham has said she won't resign following protests by some parents about lessons on relationships, including the teaching of lgbt equality. five schools in the city have now stopped the no outsiders programme, which is used by hundreds of schools in england. last week, we questioned some of the parents who object to the lessons. today, our correspondent sima kotecha talked to the chief executive in charge of the school. it's been going on for ten weeks now, parkfield school under pressure to scrap the controversial ‘no outsiders' programme. hundreds of parents, many of muslim faith, don't want their children to be taught about same—sex couples. now, for the first time, the woman in charge of the school has publicly spoken about her views. what parents tell their children at home, it's up to them. there are some fantastic families round here,
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whatever way they want to bring their children up is fine. but in school, they need to be educated to the law of the land and at home they can follow their religion and that's fine, the two sit together. so here we have ‘mama, mummy and me' and this is a lovely board book of cartoons... no outsiders has temporarily been suspended by the school. it involves teaching children about same—sex relationships through cartoon characters in story books. but some people believe homosexuality to be morally wrong. weekly protests here continue. the impact on the staff has been tremendous. people have said they're losing weight, some of them said they can't sleep. some of them have been shaking when they've come to school. there are some parents who are convinced that you are islamophobic — what would you say to those parents? not at all. why would i come here and work in this school? i chose this school when i moved overfrom leicester. it was an amazing school.
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it's very clear from the parents that i've spoken to that they want you gone, that they don't trust you, they don't feel that you are able to control the school. it isn't the time for a change of leadership at all. there's so much i know about the way no outsiders is introduced. there's so much trust i have within the colleagues and i still feel out there in the community. later this week, parkfield has its first meeting with the government and the parents with the hope they can find a way forward. sima kotecha, bbc news, birmingham. that is it from me. now it is time for bbc news sport today. hello, and this is sport today, live from the bbc sport centre. coming up on this programme: england survive an early scare to thrash montenegro 5—1 in their european championship qualifier. meanwhile cristiano ronaldo limps off in portugal as the european champions are held
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to a draw by serbia. and hseih shines once again in miami, beating former world number one caroline wozniacki in a three—set thriller. hello and welcome to the programme. we start with football, and there were seven european championship qualifiers on monday. they included another comprehensive win for england who followed up friday's 5—nil win against the czech republic with a 5—1 victory in montenegro. it was the home side who score first, after just 17 minutes, with a fine curling shot from marko vesovic. but after that, it was one—way traffic. michael keane equalised for the visitors, before ross barkley scored either side of the break to make it 3—1. there were further goals for harry kane and raheem sterling — his fourth in two games — as england made it two wins out of two, scoring 10 goals in the process.

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