tv Asia Business Report BBC News March 29, 2019 1:30am-1:45am GMT
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our top story: british mps will be given another vote on theresa may's brexit deal on friday. but it will only be one part of it. they'll vote on the withdrawal agreement, setting out the divorce from the eu, not the part that covers the future relationship with europe. new zealand has held a national remembrance service for the 50 people shot dead in two christchurch mosques. the prime ministerjacinda ardern said violence and hate are not welcome in the country. and this story is trending on bbc.com. ole gunnar solskjaer says it's his "dream come true" to be appointed manager of manchester united. the norweigan, a former striker for the club, has been in temporary charge, winning14 of his 19 games. that's all for now. but stay with us on bbc news. and also making news in the uk: a record 2.9 million children from working families
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are living in poverty after housing costs have been paid — that's according to the latest figures. time now for asia business report. us china breakthrough? we have had signs of progress but also worries that he could still take months. lyft‘s $52 million public offering, the rideshare company is set to cruise onto the share market when it lists. good morning asia, hello world, how are you today? glad you could join us for another exciting addition of asia business report, i am rico hizon in singapore. and we start off with the us china trade warand start off with the us china trade war and donald trump's top economic adviser has warned negotiations between the world's two biggest
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economies could go on for months. his comments come as us trade representative robert lighthizer and treasury secretary steve mnuchin a meeting china's vice premier in beijing. earlier, ispoke meeting china's vice premier in beijing. earlier, i spoke to michelle florian york and robin burned in shanghai and i started by asking if there had been any signs of progress in the negotiations. there is certainly positive talk when it comes to china buying more stuff in the united states. much talk in the past few days about pork products from the us and a significant uplift in the month china might be buying a future. lot of positive talk about technology transfers well, this is the way that china has forced firms in the past to give the technology to chinese partners. a lot of signs in the us side that they are happy about what the chinese are now putting on the table, is there are
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definitely positive signs there but we hear from robert definitely positive signs there but we hearfrom robert lighthizer in an interview earlier this week, the us‘s top trade negotiator, and he still bangs on about enforcement. that is a key issue for the americans are not much sign we're seeing much progress there. what about in the us, michelle? is the us going to these talks with the economy in robust shape? think if you look back to when the trade talks started, the us economy was actually in a very strong position but there is a growing perception at least you on wall street and within the us federal reserve, the country's central bank, that the economy is actually slowing and if you look at the figures that were released today, they are unlikely to change that perception. the latest gdp perception for the final months of the year actually showed the us economy slowed down more than people initially thought. the other thing that came out of this report was that came out of this report was that corporate profits failed to rise to the first time in more than two years, so as these talks:,
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america's point of advantage, if you like, is diminishing. -- as these talks go on. it has been five years since the launch of china's belton road initiative, and it has sparked criticism that countries taking part unable to pay back their debts but the worries are over loans which countries take to pay for large infrastructure projects. earlier this week, we heard from the head of the asian infrastructure investment bank, which gives these loans and acknowledge these concerns. bank, which gives these loans and acknowledge these concernsm bank, which gives these loans and acknowledge these concerns. it is very important for the aiib not compound those issues for the countries that are having problems paying back their debt. and which other countries that are having problems? we have not experienced any problems yet because we are still relatively new, still the implementation stage of our projects so we have have not experienced that. because a lot of people are
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saying that these loans that are being lent to these developing countries are debt traps. so what the aiib is doing to the poorest countries is trying to avoid compounding the situation, so for example, if loans are made, there is a good attempt made to ensure that the revenues of the projects are repaying the loans all that we are not becoming a burden on the state at all, that we are globalising financing from the private sector. that the big question is how much of an influence is china, when these funds are disbursed to these developing countries, and who are pa rt developing countries, and who are part of the belton road initiative? well, that is a question really will have to ask china. no influence whatsoever? —— belton road. have to ask china. no influence whatsoever? -- belton road. well, china is an important member of the aiib but the aiib is multilateral, so it is international standards that are being imposed by the aiib and that includes making sure that debt levels are sustainable on the pa rt debt levels are sustainable on the part of the borrowers. has this
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ongoing trade war between the united states and china had an impact on regional borrowing?|j states and china had an impact on regional borrowing? i think so, we have published recently report that has observed that there has been some decline in the level of projects being financed, although for the projects being financed, although forthe aiib, ourown projects being financed, although for the aiib, our own pipeline is very robust. we are here for the long—term, the infrastructure needs are enormous and so, we long—term, the infrastructure needs are enormous and so, we will do our best to help meet the infrastructure needs in asia, an enormous task. in other news making business headlines, as president donald trump in south korean president moon jae—in will be meeting in washington, dc on the 10th of april and that is according to the yonhap news agency, citing the south korean presidential office. the two leaders are expected to discuss still talks between the united states and north korea after the second summit between mr trump and north korean leader, kim jong—un, wrote between mr trump and north korean leader, kimjong—un, wrote down in late february. edition mps will be
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asked to vote again on brexit later today. ash tied down. but only on pa rt today. ash tied down. but only on part of the deal negotiated with the european union. —— broke down. you also have the divorce deal and citizen's right, but will not amount toa citizen's right, but will not amount to a third meaningful vote on the deal because it will not include the uk's future relationship with the eu. facebook has been charged in the us for allegedly allowing housing advertisers to allegedly discriminate against users based on race, sex and disability. the site was charged with violating the fair housing act. facebook said it was disappointed by these charges. the us ride sharing company lyft is set to cruise onto the stock market later with a valuation of more than $24 million and next week, you have rival uber also making its debut on
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wall street. both are seen as major test of the viability of the so—called economy. —— gig economy. how's going? —— how is it going? going well. but none of them have ever come close to turning a profit, and so when they go public, life might become a bit more difficult. to see what the future has in store, i am going to try a bit of ride sharing myself. this is the sketch is uber of all
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time. it is going to hurt uber‘s chance to dominate markets and their rivals, i think there is enough sustaining hyper company like lyft to do well out of the gig economy, evenif to do well out of the gig economy, even if people have concerns about its fundamentals. they have not been profitable yet, but they have been engaged in this cost—cutting war both with taxis and with each other, but they are eventually going to have to raise prices. they seem so far from being profitable right now that they are going to have to make some massive changes. well, it seems like that is why they are also trying to make bets on other types of transportation, like the scooters and bicycles and self driving cars. all three of those do not have the most costly ingredient, which is the drivers, you guys. people like me,
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working hard all day. people like you. this has been a real slog. i have done 23,000 ride. so that means then, you are in line for a bit of a bonus when lyft does eventually go public, so what happens there? they sent me an e—mail telling me that i was entitled to a $1000 bonus, which i could either take as cash later this month, or i could have the ipo stock in lyft. see you could be, lyft investor? yes, exactly. or you could ta ke investor? yes, exactly. or you could take the money. ori could investor? yes, exactly. or you could take the money. or i could take the money and run. so what are you planning to do? i do not have a lot of confidence that lyft is going to turn a profit anytime soon but that does seem to be just a lot of cultural, social support. ithink does seem to be just a lot of cultural, social support. i think it will make it much more interesting day if i just let
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will make it much more interesting day if ijust let it go with the pre— ipo stock. day if ijust let it go with the pre- ipo stock. goodbye. five stars, please. i would appreciate it. dave lee, a lyft driver? well, doubling up lee, a lyft driver? well, doubling up as well as our north america technology correspondent. let's have a quick look now at the markets. as you can see, they are all in positive territory after us stocks climbed overnight but investors are optimistic about this latest round of us, china trade talks. thank you so much for investing your time with us, and rico hizon. sport today coming up next. —— i am. british mps will get a third chance to vote on theresa may's brexit deal on friday, but this time only part of it. new zealand's national remembrance for the 50 people shot dead in two mosques a fortnight ago. the prime minister says violence
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and hate are not welcome. imagine a world in which you feel no pain. that's what it's like for 71—year—old jo cameron, it's all she knows. the pensionerfrom inverness has a genetic mutation which means she feels virtually no pain — and never feels anxious or afraid. she didn't realise she was different until doctors were astonished she didn't need painkillers after a serious operation. 0ur medical correspondent fergus walsh reports. she's had teeth knocked out, broken her arm, suffered serious burns, and felt nothing, becausejo cameron simply doesn't sense pain. i put my arm on something and only realise it's burning when i can smell flesh burning. so, it's not clumsiness. it's... the normal reaction is, you cut yourself or burn yourself once, maybe twice, then you avoid that because your brain says, don't do that. well, my brain doesn't say don't do that. as for giving birth to her two children, again, painless. before i realised it,
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i've had the children, so it wasn't a case of i'm a martyr, i don't feel pain, it was i'm prepared to take anything because they tell me it's going to be awful. i felt things, i felt my body stretching, i felt peculiar feelings, but nothing to make me... no pain. the chilli challenge. 0k? right, 1, 2, 3. and this isjo with her husband and doctor eating super hot chillies — a breeze for her. scientists at university college london have analysed her dna and found she has two gene mutations. 0ne shuts down the pain pathway from the brain. what we hope is to be able to exploit the mechanism to manipulate pain thresholds in people that have chronic pain, and there's a vast problem of around about 6% or 7% of the population have ongoing excruciating pain, so we really do need some new therapies. we have our pinprick box. the team showed me some of the instruments they tested onjo. no matter how hard the needle was pushed, it didn't hurt her.
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yeah. yeah? i can't stop being happy, and i do forget things. jo's gene mutation also boosts her mood, and she's never anxious, but it also affects her memory, and she often loses things. however, it's her inability to feel pain which may ultimately help others. fergus walsh, bbc news. now on bbc news, sport today. hello, i'm tulsen tollett and this is sport today, live from the bbc sport centre. coming up on this programme: after passing the rehearsal 0le gunnar solskjaer is confirmed as manchester united's new manager on a three year contract victor montagliani is re—elected unopposed as concacaf president, at their congress in las vegas. and masahiro tanaka helps the new york yankees get their major league baseball
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campaign off to a winning start as they beat the baltimore orioles. hello and welcome to the programme, where we start with football, and the news that 0le gunnar solskjaer has been confirmed as the new manager of manchester united, three months after taking overfrom jose mourinho on a caretaker basis. since the norwegian took charge at old trafford, united have suffered just one defeat in the premier league and they're through to the quarter—finals of the champions league. our sports editor dan roan reports. as a player, he was super sub, as coach, he came on loan. but today, 0le gunnar solskjaer became the main man at manchester united, handed one of the biggestjobs in world football on a permanent basis. i always had that dream in my mind to have this
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