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tv   Asia Business Report  BBC News  April 19, 2019 1:30am-1:46am BST

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the long awaited mueller report into russian intereference in the 2016 us presidential election says there was no collusion with the trump campaign. however it does not exonerate the us president. the heavily redacted report detailed 10 episodes where the president was scrutinised for obstruction ofjustice. it also said donald trump tried to get robert mueller fired. however, donald trump said the findings of the report totally exonerated him. he tweeted that it was now "game over" for his opponents. and this story is trending on bbc.com: facebook has banned a dozen british far—right groups including the british national party and the english defence league from having any presence on its social media networks. it said they violated rules about promoting hate and violence. that's all. stay with bbc world news. and the top story in the uk — a fourth day of climate protests in london —
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now activists threaten to target heathrow as hundreds of thousands fly off for easter. now on bbc news, live to singapore for asia business report. jubilation. technology stocks back in favour? we look at two strong market debuts. and a look at who is behind the wheels of these sleek luxury cars on the roads of dubai. good morning asia hello world. it's friday. thank you forjoining us for another exciting addition of asia business
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report. we start off with a couple of technology stocks and their strong debut. shares in pinterest opened at above their initial value of $19. that value is the online scrap book company at $16 billion us. it has millions of users and is growing. it is our reporter explains, its debut was overshadowed by another technology newcomer.m pales in comparison to another company that started trading publicly today and that is zuub, a videoconferencing company. still within technology. their share price saw almost 80% in trading today. and
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what a nalysts saw almost 80% in trading today. and what analysts are taking away from thatis what analysts are taking away from that is that investors like the idea of the potential for revenue, the potential for gains such as pi nte rest potential for gains such as pinterest as well as companies that really know how to make a profit and thatis really know how to make a profit and that is what we are seeing with zoom. new tariffs are being threatened on the us —— international car industry by donald trump. we have more from the us auto show that open today. the global car business setting out its store in the big apple. with much of the usual it's unpolished. it threatening to the shine off proceedings is donald trump and his familiar resentment about the success familiar resentment about the success of familiar resentment about the su ccess of overseas familiar resentment about the success of overseas car companies familiar resentment about the success of overseas car companies in
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america. they barely take our agricultural products yet they can sell mercedes—benz and anything they wa nt sell mercedes—benz and anything they want in our country. if that doesn't change we will tariff all the cars and everything else that comes in. president of mercedes—benz us. and everything else that comes in. president of mercedes-benz us. the us boss of mercedes seemed happy to brush off the presidential thread for now. there is always some uncertainty. we seem where it is going to happen and in business you a lwa ys going to happen and in business you always need to deal with volatility and things you don't know, we things that could change. we will take it as it comes and there is no point in speculating at this point in time. mercedes, like volkswagen and bmw may be a german company but they are creating more and more opportunities for american workers in the states that helped elect us president. a point were keen to drive home. the overall investment in alcohol so
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—— in one of ourfactories the overall investment in alcohol so —— in one of our factories will create hundreds of newjobs. —— in one of our factories will create hundreds of new jobs. japan, like europe faces the prospect of difficult trade negotiations with the donald trump administration full dog one executive admitted that new ta riffs dog one executive admitted that new tariffs on cars could be very damaging. if they happened on the auto industry, frankly that is pulling the pin out of the grenade andi pulling the pin out of the grenade and i don't believe the us economy can run out of the room fast enough to protect itself. a sentiment echoed by automotive analysts. we believe the tariffs will go into effect and if they do, we fully expect vehicle prices will rise substantially and that will cause vehicle sales to fall and that could well push the economy into a downturn. while car buyers here are still enthusiastic, it is the threats of the current us government that could put a hard break on the global car industry. some of the
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biggest chinese technology companies have expanded at a very fast pace. but a recent report from think tank says it can pose a threat to other governments. —— from an australian sink tank. because of their deep links to the communist party we need to see them is not purged —— purely commercial at this. they are also strategic and political actors. so this project seeks to shine a light on these important companies that will change the way you and i connect with one another. they will change the way we look at 5g smart cities. also, what is going on and what does that mean going forward? we met doubt 5g
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networks, smart cities, and other strategic data points. but it cannot be helped that many of these companies have a ready made their ways into other companies. how are they influencing conversations?” don't know if they are influencing conversation but they influence technology in economies. with this project what we seek to do is highlight areas where there are some problems. smart cities is very important. huawei is taking smart cities, what they call safe city solutions around the world. that plays a role in emergency response and crime prevention but it also plays a role in public security. in developing countries those are being enabled by loans and countries are taking on sophisticated surveillance technology that they have never dealt with before. earlier we spoke to the chairman and founder of huawei and he has denied
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that their relationship is influenced by the chinese communist party. are they lying?” influenced by the chinese communist party. are they lying? i won't say that but i will say that is not how the chinese communist party works. these companies have emerged from a party state environment and are obliged to work with the chinese communist party, whether they want to or not. many may not want to but thatis to or not. many may not want to but that is how they are a obliged to. and they have no choice about taking pa rt and they have no choice about taking part in espionage work. top of the range automakers are finally turning their attention to women. a number of luxury brands now employ a female advisory board to help them design ca i’s advisory board to help them design cars attractive to women. one place forfemale cars attractive to women. one place for female drivers cars attractive to women. one place forfemale drivers are cars attractive to women. one place for female drivers are already shaking things up is the united arab emirates. from dubai, a report on a car club with a difference. its girl
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power car club with a difference. its girl powei’ means horsepower. car club with a difference. its girl power means horsepower. this club, we power means horsepower. this club, we have entrepreneurs and business women who have worked hard to afford these cars. these women are serious about cars, especially supercars.” drive a porsche 911. the arabian gazelles is thought to be the world ‘s first supercar club run by and for women. less fast and furious, more fast and fashionable. the designers talk about it here. with more women in the region joining designers talk about it here. with more women in the regionjoining the workforce, female spending power is increasing. i started with a toyota corolla and then a bmw three series and then a ford mustang and though i have of the ten and hopefully soon
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it will be a b12. but i need a lot of saving up to do. if women are not just interested in driving top of the range of vehicles on the road, today they are a go on the track. and no ordinary track. this circuit hosts formula 1 racing. this woman founded the club as an alternative to the male dominated passing. how have men reacted ? to the male dominated passing. how have men reacted? after two years they understand that we are just fire drivers just like them and we enjoy this as they do. the men in like my life borrow my car. my uncle borrows it sometimes. with more than 70 members meeting regularly and to buy, sells stand out. but they will not be in your rearview mirror for long. further down the road, they
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have plans to expand to saudi arabia with female driving recently being legalised there. breaking down barriers while trying not to break the speed limit. those are hot wheels indeed. in the asia—pacific market not a whole lot of action due to the easter holidays. we have the likes of the philippines, singapore, hong kong, australia or closed today due to the holidays. howeverjapan is open today and is up by 147 point. thank you for investing your time with us. sport today is coming up time with us. sport today is coming up next. this is bbc news. the top stories this hour. robert mueller‘s long—awaited report on russian interference says there was no collusion with russia by the trump campaign in the 2016 us election.
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the heavily redacted report doesn't exonerate him and it also raises questions of obstruction of justice. but president trump says it's "game over". the prospect of a no deal brexit at the end of march led to many british businesses stockpiling their goods to prepare for every eventuality. but it's come at a price. as the uncertainty continues, our business editor, simonjack, has been talking to companies about the impact it has all had on them. easter time is chocolate time, and was due to be brexit time. we normally at this time of year maybe have one to two weeks' stock. and this is? so now we're looking at one to two months' stock. so that's what, four or five times more than you would normally have at this time? yeah. hot chocolate maker, brian watt, heeded government advise to prepare his business for a no—deal brexit. that's a lot of money sitting there. what are you going to do with all this now? i mean, what are the options?
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so, this is stock that i've bought and i've done that on the basis of borrowing from the bank, so now my big concern that keeps me awake at night is how do i actually sell that stock out, get the cash into the business, pay the bank? i wake up at 4:30 in the morning thinking about cash flow. it's hard enough running a business without brexit uncertainty, and while there may be a collective sigh of relief that the uk didn't leave the eu without a deal, even for companies that did take precautions, any peace of mind that provided may be short—lived, as we are still facing an uncertain outcome at an uncertain date. this small company borrowed an extra £43,000. it wasn't alone. firms of all sizes have borrowed billions for brexit planning. rbs is the uk's biggest business lender. we set aside £3 billion. the vast bulk of that is now committed, it is there to support stockpiling, supply chain related activities and also trade—related activities. and given we've gone through this cliff edge, which many people were stockpiling for,
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are you now going to ask for that money back? no, it's still too uncertain for customers to actually decide what they're going to do yet. they need to know how we're leaving and when we're leaving before they take those decisions. and that is why warehouses, like this one in hull, are still full to the rafters. some businesses would rather continue paying the price to be ready. the problem now is do they keep the stock here, or do they run it down? if we have an agreement and things move quickly, if they've run stock down, then they're back to where they were before, so most customers are actually holding their stock at a high level to ensure that, if a date comes forward quickly, that they're in position to deal with it. brexit may have been paused, but for business the costs continue to stack up. simon jack, bbc news. now on bbc news, sport today. hello, this is sport today,
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live from the bbc sport centre. coming up on this programme: arsenal are through to the europa league semifinals, after seeing off napoli 3—0 on aggregate. top seed and world number one novak djokovic is through to the quarter—finals of the monte carlo masters. and jarrell miller says he'll appeal against the decision to deny him a licence to face anthonyjoshua in new york. hello and welcome to the programme where we start with the footballing news that arsenal are through to the europa league semi—finals after beating napoli 3—0 on aggregate over the two legs of their quarter—final tie. the gunners took a 2—0 lead from the opening match to naples and after a tense opening period, the north london side scored through alexandre lacazette making it a real struggle for the hosts who required four goals at that point,

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