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tv   Asia Business Report  BBC News  May 17, 2019 1:30am-1:46am BST

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i'm samantha simmonds with bbc news. our top story: the us confirms that sanctions on the chinese tech giant huawei will take effect from friday. washington has effectively blocked the company doing business in the us over fears that it poses a risk to national security. the move has increased tensions between the trump administration and beijing. taiwan is on the cusp of becoming the first place in asia to legalise same—sex marriage. the historic declaration was actually made back in may 2017, with parliament given two years to enact the changes. and this story has beeen getting a lot of attentiion on bbc.com. tributes have been paid to australia's former prime minister bob hawke, who has died aged 89. the current prime minister, scott morrison, said he had made the country stronger, with a great intellect and enormous passion. that's all. stay with bbc news. and the top story in the uk:
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theresa may has bowed to pressure from conservative backbenchers, agreeing to set a timetable for her resignation. she is expected to step down at the beginning ofjune. now on bbc news, live to singapore for asia business report. huawei says it will challenge us effo rts huawei says it will challenge us efforts to block the firm over security concerns, as china threatens to retaliate. the cost of voting. as india's election draws to a close, we hear why the overseas workers who send money back don't wa nt to workers who send money back don't want to have to send themselves back just to vote. good morning, asia. hello, world. it is a friday, almost the weekend. glad you could join us for another exciting addition of asia business report, i'm rico
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hizon. we start off with huawei, and the chinese telecommunications giant says it will challenge us efforts to severely restrict how it does business. well, on thursday, the trump administration moved to stop huawei buying components from the us and selling its own equipment there. it is all because the us is concerned that huawei helped the chinese government to spy, something the firm has repeatedly denied. our reporter is investigating with more details from new york. well, the sta kes details from new york. well, the stakes could not be higherfor huawei, but they have really tried to turn the conversation on the americans. in their statement they pointed out that this doesn't just hurt huawei. it hurts american businesses that sell to huawei, and they have talked about the thousands ofjobs they have talked about the thousands of jobs that could they have talked about the thousands ofjobs that could be lost if this ban ofjobs that could be lost if this ba n stays ofjobs that could be lost if this ban stays in place. they have talked about how share prices in these companies and the economic damage that could be done. so they are trying to focus on this being a larger economic impact than just on
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huawei and today we saw shares in companies like micron technologies, that sell semiconductors, they went down today. so there is more at sta ke, down today. so there is more at stake, and huawei is trying to focus the us on those concerns while saying it is open to a conversation with them about how they can fix this. indeed, the repercussions are big. and the us, zoe, has already given more details about this band. what have they said? -- ban. so the big news today is this ban goes into effect immediately. yesterday when we got some details about it that was unclear, but the commerce department today said that huawei will be banned from buying from american suppliers immediately. they have also said that anybody who wa nts to have also said that anybody who wants to supply huawei will be dealing with something of a presumption of denial. that is important because it means that even if you want to get approval from the us commerce department to sell to huawei, the commerce department is going to ask those companies to explain why it is not against
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national interests and national security interests to sell to huawei, and that's a very difficult argument for them to make. zoe thomas in new york. in other business news making headlines, boeing says it has completed a development of a software update for its 737 max aircraft, which were grounded following two fatal crashes. more than 200 test flights we re crashes. more than 200 test flights were done and the federal aviation administration expects boeing met the upgrade for certification next week. microsoft and sony have announced a partnership on videogame streaming. this comes despite their fierce rivalry in the sector through their xbox and playstation consoles. sony is expected to use microsoft's cloud computing service to hosted streaming service. sony might have struggled to compete in online gaming without the deal. the company said that they would also work together on semiconductors and artificial intelligence applications. indians make up the
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largest day as per in the world, —— diaspora in the world and many send money back home. they add almost $80 billion into its economy, yet for indians living abroad, taking part in the country's ongoing general election requires them to actually go back to india. monica miller has the details from delhi. volunteers in india's marathon election haven't lost the enthusiasm to spread their message. this group includes indians who have travelled from abroad to campaign and cast their vote. but this man has joined campaign and cast their vote. but this man hasjoined this event in the labyrinth of old delhi for the b] p the labyrinth of old delhi for the bjp party. the chemical engineer lives in the united arab emirates. he wants it to be easier for non—resident indians, known as nris, to cast their votes from abroad. we
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have sent numerous letters to election commissions to request that they should consider allowing voting. this man flew in from london. he was born in india but has called the uk home for most of his life. this is the first time he has voted in an indian election. you experienced brexit in the uk, and what happens when people are apathetic to voting. every vote counts, and given that there is no opportunity for postal votes, i thought, why not? indian residents who live in places like dubai, russia, china and the uk flew all the way home to cast their vote in this historic election. there is one thing that these two major parties agree on, and that is to make this process easier. this man is a banker who now lives in london. he says that the current system doesn't work for him. it's too expensive to go back to india just to vote, and i
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also have to take a separate holiday, plan an entire thing, which is very difficult given the job that i do. it is hard to say how many nris have travelled back to india for this election. but one member from the national congress says the diaspora can still be influential. these people who are living abroad, they have family living in india, they have family living in india, they have family living in india, they have friends, and they listen to them, and that impact is huge. they have friends, and they listen to them, and that impact is hugem the meantime, they will have to log more travel time to fulfil their civic duties in person. from india to australia, and saturday is election day there, where conservative prime minister scott morrison is in a tight race with labour's bill shorten. whoever wins, they will be pressure to do more to tackle climate change. 0ne they will be pressure to do more to tackle climate change. one recent poll showed more than 60% of voters thought it was the country's leading critical threat. but that is at odds
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with australia's economic reliance on mining exports such as coal. 0ur correspondent is an analyst with capital economics. i think there is also an economic case to shift to renewable energy. according to the australian government, renewable electricity generation is now cheaper than coal so if the australian government decides rationally, they will have to increase the share of renewables, and that is what labour wants to do, i think that is going to happen. and of course, the government wants to push forward, and one of the main platforms is a budget surplus continuing for the australian economy. if the industry is hit, how could this impact the budget? well, obviously it depends more on the development of global commodity prices. as long as global commodity prices. as long as global commodity prices hold up, the profits will be big and they will contribute, and the cash flows will remain high. i don't think any decision australia
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will have on what kind of electricity, how it will be generated, will have a big impact on the commodity prices, so the impact is going to be quite small. he is a billionaire fashion tycoon who made news headlines when he announced that he would be spacex's first private customer to fly to the moon, but is he now struggling for money? he is selling artworks worth millions of dollars at a sotheby‘s option in new york. what is going on with him? well, he is very well known in japan. made with him? well, he is very well known injapan. made his money from japan's biggest online clothing retailer. but i think the first time he made headlines internationally was when he bought this painting for $110 million. and he is a known art collector, but he tweeted a few weeks ago saying that he would sell two of the artworks that he owns,
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and they are both worth several million dollars. the auction has just started in new york, and when a follower asked if he was running out of money, he replied, quote, yes, i never have money because i always spend it. and don't we know it, because he signed up to be the first private passenger taken because he signed up to be the first private passenger ta ken around because he signed up to be the first private passenger taken around the moon by elon musk‘s spacex. we don't know what he paid, but we can imagine quitea know what he paid, but we can imagine quite a lot. there have also been several corporate missteps as well. it pulled out of the overseas market, for example, and the company's market, for example, and the compa ny‘s stock price market, for example, and the company's stock price fell by more than a half. this is how it performed over the last year compared with the broader topics, so you can see how sharply it has fallen. the company actually receive some positive news on monday when he asked 2000 people to apply to be the company's asked 2000 people to apply to be the compa ny‘s pa rt—time workers asked 2000 people to apply to be the company's part—time workers by raising their hourly rate by 30%. he is also spending his own personal money to offer pocket money to his twitter followers. the first time he
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offered was on new year's day, but this time he is targeting aspiring artists. and one thing is for sure. he is not your conventionaljapanese bass, and he knows how to attract attention. absolutely, but i am sure that painting will be able to pay for his space trip. let's have a quick look now at the markets, and asian stocks are currently open for trade and they are in positive territory. the nikkei 225 is up by 146 points and the all 0rdinaries gaining 52. thank you so much for investing your time in us. i am rico hizon. sport today is coming up next. this is bbc news. the top stories this hour: us—china relations at a new low, as washington blocks the tech giant huawei from american markets. the sanctions come into effect immediately. and an historic first for asia. taiwan is set to formally
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legalise same—sex marriages. a nurse who was stabbed in the neck by one of the london bridge attackers in 2017 has told an inquest how she was trying to help a man who had been fatally injured. helen kennett was off—duty at a restaurant with her mother and sister when three men began randomly stabbing people. daniel sandford has more. just after 10:07pm on 3june 2017, a van crashed into railings after fatally injuring two pedestrians on london bridge. just below, in the borough bistro, waiter alexandre pigea rd reacted to the noise and rushed outside. he headed for these steps that lead up to the streets, then his colleagues heard the sound of people screaming and he ran back through the arch, holding a gash in his neck. 0ff—duty nurse helen kennett was in the bistro with her sister and mother, celebrating her birthday. she stepped forward to help
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the wounded waiter. "i went to him because i thought, i need to do something, because he's bleeding a lot," she told the coroner today. i said, i'm a nurse, let me help you. he shook his head. he said no, just run. then she realised that alexandre was being held by a man with a knife. "i looked up to the attacker. i looked at him and i said, what's wrong with you? and he looked at me and said, no, what's wrong with you? he stabbed me in the neck on the left—hand side. ijust remember his eyes. they were completely soulless, evil, empty. " alexandre pigeard died from multiple knife wounds just outside the bistro where he worked. other witnesses saw this young australian nurse, kirsty bowden, being stabbed on the ground just metres away. she also died. in less than two minutes, the attackers had stabbed five people to death around the borough bistro, and others, like helen kennett, were lucky to have survived. daniel sandford, bbc
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news, at the old bailey. now on bbc news, sport today.
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hello, i'm tulsen tollett and this is sport today, live from the bbc sport centre. coming up on this programme: defending champion brooks koepka leads by a stroke after the opening round of the pga championship in new york. meltdown in italy — nick kyrgios throws a chair on to the court, walks off and is then fined and forced to forfeit the 45 ranking points gained during the rome masters. and italy's fausto masnada claims victory on stage 6 of the giro d'italia, while his compatriot valerio conti seized the overall lead. hello and welcome to the programme where we start with the golfing news that defending champion brooks koepka will take a one shot lead into friday's second round of the pga championship in new york.

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