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tv   Asia Business Report  BBC News  August 5, 2019 1:30am-1:46am BST

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donald trump says hate has no place in the united states — after two mass shootings in the space of a day. a man is arrested after killing 20 in el paso, texas, opening fire on shoppers in a busy store in a mainly hispanic area. officials have called it a case of domestic terrorism. 13 hours later, a man was shot dead by police, after killing 9 people — including his sister — in a bar in dayton, ohio. and in hong kong, pro—democracy protesters plan to paralyse the city. the transport network is being targeted and many people are expected to take part in a general strike across the territory. that's all. stay with bbc world news. and the top story in the uk:
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a 17—year—old boy has been arrested on suspicion of attempted murder after throwing a six year old boy off the 10th floor of london's tate modern art gallery. now on bbc news live to singapore for asia business report. hong kong protests. after the ninth weekend of demonstration, the city demonstrations what could be the biggest general strike in decades. young entrepreneurs. we meet the former athlete helping black officials advance their careers. —— professionals. welcome to asia business report. we start with hong kong because as we were telling your newsday, clashes between police and anti—government demonstrators have again continued late into the night.
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the hong kong government has condemned what it called a violent and illegal act in today protesters are set to rally across the city. marking the latest disruptive escalation. a business correspondent mariko oi told us what we were expecting. we could be seeing the biggest general strike in decades later today as seven rallies take place across hong kong. the government has been asking people not to participate. the reputation asa not to participate. the reputation as a financial hub and its economy last week. we had gdp growth for the second quarter april to june is already quite weak. we are expecting quite a lot of people not to show up to work and to take part in this general strike. joining me is carol
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nanograms. i know it's still a guessing game but how many people are you expecting? overnight, we received messages from the aid agency. a positive response so far. we believe quite a large amount of workers have been taking part in a strike. also engineering, catering and security services and also the outsourcing of workers as well. social services and social workers. we believe more and more coming to telus today that we will be on strike. obviously the conservative way to guess could be reached to millions. the pro- beijing union says this would paralyse hong kong.
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how do you respond to that?” says this would paralyse hong kong. how do you respond to that? i think in normal days, just like after a typhoon, you need to have a check of your fire typhoon, you need to have a check of yourfire equip and so on. typhoon, you need to have a check of your fire equip and so on. any business can shutdown your fire equip and so on. any business can shut down for one or two days check and it doesn't matter. this is a time of the hong kong people to stick together and show unity. what about the aviation sector? we are seeing 100 flights cancelled. that will potentially affect the image of hong kong and reputation. strike action has been announced a few days ago. travellers around the world are aware of that. more and more support from our self is actually telling strong messages to the government. this is an historic moment for hong kong. that was mariko oi speaking to the head of one of hong kong's union. the striker sitting the transport system hard. the airport will use one
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ru nway hard. the airport will use one runway forcing airlines including cathay pacific to cancel about half theirflights. at cathay pacific to cancel about half their flights. at the same time, disruption to the territory's underground train service. a strike planned by workers at heathrow airport has been called off. talks to stop a further walkout on tuesday. around 2500 workers had planned to strike on both days in a i’ow planned to strike on both days in a row over pay but it will now reinstate flights from heathrow on monday. hsbc has announced chief executive john flint. monday. hsbc has announced chief executivejohn flint. down. the banking giant said it needed a change to stop the challenging global environment. the move was announced along with its results which showed first half pre—tax profit rose in june. which showed first half pre—tax profit rose injune. this week, asian central banks take centre stage after the us federal reserve cut its main interest rate for the
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first time in more than a decade. we start with the reserve bank of australia and interest rates at a record low of 1% after two consecutive cuts and on wednesday, the reserve bank of india's turn and that's after it cut rates three times ina that's after it cut rates three times in a row. with no signs of a let up on the trade war, we get trade numbers out of china on thursday. last week, president trump announced he would impose tariffs on another $300 billion worth of chinese goods. we end the week with chinese goods. we end the week with chinese inflation data after the price of books sword as african swine flu hits applies. earlier, i asked how damaging the new tariffs will be on china's economy. if you look at the chinese economy currently, imports from the us into china are taxed up to 15.2% versus
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the us, 16.8. we have to put this into perspective. on the global economy for this additional tariff, we are expecting very little. 0.1%. for china, probably a bit more. if you get trade itself, together, 0.2 percentage points and for the us, on income, for consumers, 0.1% in gdp. so really small increments. we've already been hearing that us companies are likely to be hurt long—term by trump's tariffs. how is this affecting business confidence? if you look at the three components, consumers generally are doing pretty well. where we are looking at is the industrial areas. business confidence. where do you put your new factory? what are you doing?
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this is really the sentiment aspect that must be monitored in the cut in rates from the fed. it is counterbalancing some of those. they said it was a preventative measure, mitigating the impact of the trade war. what are we expecting from the asian central banks? in australia, perhaps a hold but india, more out of career at some point between now and the first quarter. more cuts out of taiwan. so generally loosening. to follow the fed and help with local conditions. interestingly, the pmi out of asia is looking better than with the rest of the world and that might be linked to the changes in the global supply chain you are seeing but it's still quite a muted growth environment. what else can
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asian governments do to try and fix this? what you've seen in chinese a lot of school reforms. you've had over 88 different loosening measures in china in the past 12 month. it's adjusting in a more profound way, if you want, which is really what is key for us, investors. this week on ceo secrets, we're looking at young entrepreneurs. an end today we meet an athlete who represented britain. kite oniwinde has set up a network for professionals.
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there is just so there isjust so many moments there is just so many moments where you will be knocked back as a ceo or asa you will be knocked back as a ceo or as a young founder or a founder in general but you have to learn that why you started the company and you do have the ideas and you are more than capable to go forward. you shouldn't let anyone bring you down.
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a great story. a recap of the top story this morning and that's clashes in hong kong between police and anti—government demonstrators. they continued late into the night and today protesters are set to rally across the city is workers staged a general strike, marking the latest destruction in this long conflict and we are hearing protesters are trying to disrupt the train systems this morning. before we go, let's take a quick look at those markets. hong kong is down due to the strong and sliding us stocks. in those concerns about the us china trade row. this is bbc news — the top stories this hour. the man accused of killing 20 people in a terrorist shooting in texas has been charged with capital murder.
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pro—democracy protesters are planning a day of disruption in hong kong. the transport network is being targeted and many people are expected to take part in a general strike across the territory. borisjohnson has pledged £1.8 billion in a one—off funding boost for the nhs in england. the prime minister said it would go towards vital new kit and upgrades for 20 hospitals. labour said it fell significantly short of the amount needed by the nhs and would not reverse years of cuts. here's our political correspondent, jessica parker. a pledge on entering office. we start this week to ensure money for the nhs really does get to the front line. more detail including which 20 hospitals will get specific upgrades is expect it imminently but 1.8 billion pounds is less than the nhs in england spreads on an average week and help organisations say the bill to clear the maintenance
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backlog is more like £6 billion. the ceilings are collapsing in wars. cancer patients are getting the diagnosis. because of old faulty equipment, and it's because the tories have done the smash and grab raids on these investment budgets. this all has particular significance for borisjohnson. this all has particular significance for boris johnson. after that slogan on the bus during the referendum campaign. spending can it already made by his predecessor, theresa may, it is designed to meet more than that amount and the conservatives claim sound management of the economy means the cash is available. the health service is better funded now than available. the health service is betterfunded now than it available. the health service is better funded now than it has been in history and 1.8 billion is not to be sniffed it. a significant commitment on top of what was a very significant commitment to the nhs. boris has made clear the nhs is a
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priority. but with spending priorities as well on the police, education and brexit preparations, some will suspect more borrowing is on the horizon. the prime minister may be willing to turn on the taps but keeping the cash flowing isn't a lwa ys but keeping the cash flowing isn't always so easy. you can get in touch with me on social media. want him on the website. thanks plenty more available on the website. reged is here with more news in 20 minutes but now, sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: japan's hinako shibuno birdies the last hole to win the women's british open in england. steve smith makes it
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back—to—back centuries, handing australia the upper hand going into the last day of the first ashes test against england. and lewis hamilton wins the hungarian grand prix, outsmarting max verstappen with his pit stop to take victory. hello and welcome to the programme, where we start with golf, and japan's hinako shibuno is celebrating the first major victory of her career after winning the women's british open at woburn in england. she is the first japanese winner of a major for 42 years. she carded a four—under—par 68 in sunday's final round, to finish 18—under for the championship, one shot clear of lizette salas of the usa. kojin—young, who was bidding for her third major of the year, was a further shot back on 16—under—par, while the halfway leader, ashleigh buhai, had to settle for fifth place in the end. georgia hall's title defence ended with a whimper. she finished in a tie for 35th, 15 shots behind the winner,
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shibuno.

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