tv Asia Business Report BBC News September 25, 2019 1:30am-1:46am BST
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democratic speaker nancy pelosi says the president had violated the constitution. but donald trump in a series of tweets calls it witch hunt garbage and presidential harrassment. the uk's highest court has ruled that boris johnson's decision to suspend parliament was unlawful. the prime minister says the verdict is wrong, but will respect it. but leaders of all major opposition parties have called for his resignation. and footage of woman travelling on a thomas cook flight who organised an impromptu whip—round for staff after the firm collapsed is doing well on our website. passenger elaine kersla ke raised more than $800 for the crew, from turkey, who had lost theirjobs. that's all. stay with bbc world news. now on bbc news, live to singapore
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for asia business report. much more on our website. you can get lots of detail and analysis on what's been an incredibly busy news day. now on bbc news, live to singapore for asia business report. it's with mariko oi. historic uk ruling, as britain's supreme court finds the prime minister's suspension of parliament was unlawful, what does it mean for brexit? wework‘s embattled chief executive stepped aside after the company's executive stepped aside after the compa ny‘s stock market listing executive stepped aside after the company's stock market listing plan ran into trouble. good morning and welcome to this wednesday edition of asia business report, live from singapore with me, mariko oi. beginning with exit, because the british parliament will
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reopen later after the supreme court ruled prime minister borisjohnson‘s request to suspend it was unlawful —— with brexit. british mps have a lot to do in the lead up to leaving the european union, so what happens next? october the 14th is the queen's speech, which officially opens the new parliamentary session. three weeks later, parliamentary council meeting, that last for three days, will be one of the last opportunities for the british government to negotiate a new withdrawal agreement before leaving the bloc. the 31st of october is the key brexit date and as it stands, the last day the uk will still be pa rt the last day the uk will still be part of the eu. parliament has passed a bill requiring mrjohnson to ask for an extension if there is no deal in place by the end of the eu meeting. the big question is, will there be another general election and if so, when? most
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a nalysts election and if so, when? most analysts seem to think it could be as early as november with opposition leader, jeremy corbyn, saying he would support a call for an election once that brexit deadline has passed. earlier i asked our political reporterjessica parker whether the developments offer any more clarity on brexit. i wouldn't say there's any particular new clarity on brexit now mps are heading back to parliament over the coming hours. i think the significance of he is even though the british government and the prime minister, borisjohnson, the british government and the prime minister, boris johnson, insisted the prorogation, suspension of parliament, was not about dodging parliamentary scrutiny, mps who felt they had been silenced will come back to parliament wanting to make quite a bit of noise and really hold was a's feet to the fire over a number of things, including his brexit strategy —— boris johnson's feet to the fire. one thing that has a majority in the house of commons is to stop a no—deal brexit, that
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could be at odds as borisjohnson‘s deal to leave on the 31st of october. he says he wants a deal but if he can't get one he will take the uk out of the eu on the 31st of october. the return of mps to the house of commons will make his life and his plan harder to deliver. as parliament is about to sit again, what's the atmosphere in westminster right now? we often use the word febrile in westminster to describe the atmosphere but today has been a slightly odd one. the ruling came in uk time mid—morning and then i went to the house of commons to see what was going on. because parliament had been prorogued, although it's basically been un—prorogued by the supreme court, there were tourists in the chamber with audio saying... parliament wasn't up and running today but over the coming hours as today but over the coming hours as
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today goes on into wednesday, parliament will be up and running with mps returning from all corners of the country, not to mention all corners of the globe, because some had gone abroad. jessica parker on that historic ruling in the uk. in other business news making headlines, the us dollar and wall street shares have dipped as it emerged a formal impeachment enquiry will be launched into donald trump over claims he sought political help from the ukraine. the decision by top democrat nancy pelosi follows growing demands from her party. she said the president must be held accountable. the value of bitcoin has slumped by about 15% against the us dollar, hitting a three and a half month low. the world's biggest crypto currency has lost more than a third of its value since early august stop adam newman, wework‘s chief executive, has agreed to step down in the "best interests of the co m pa ny".
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down in the "best interests of the compa ny". it down in the "best interests of the company". it comes after their plans. market listing ran into trouble after investors raising concerns about losses and governance. back in mid-august, wework‘s initial public offering was hotly anticipated with investors valuing the firm at $47 billion with reve nu es valuing the firm at $47 billion with revenues doubling over the past year. a month later, it's all come crashing down for adam newman, the man credited with his success up until now. new investors were highly sceptical about wework‘s mounting losses and the business that could be left extremely exposed in a recession. the value of the company quickly plummeted to less than $20 billion and part of that fall from grace, neumann's own behaviour was under scrutiny with investors worried he had to much control over the firm and at times used that...
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he will be replaced by two co— chief executive, wework‘s current ceo and its vice—chairman, sebastien cunningham. as more details emerge about china's social credit system, there are questions over what that will mean forforeign questions over what that will mean for foreign companies operating there. they recently said their system for assessing the creditworthiness of individuals will be expanded to include 33 million companies. earlier i asked samantha hoffman from the australian strategic policy institute why businesses are coming under this. it's always meant to include companies like civil society organisations and people. the reason it includes companies is because the chinese communist party wants to shape how they are acting. that could include things like normal
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regulation and enforcement of normal regulation and enforcement of normal regulation and enforcement of normal regulation and imposing china's versions of the truth on companies. last year they were told they had to change the way they referred to iwan on their websites and if they didn't it would have been marked. is this quite different in your view to how the us has the credit ratings systems ? the us has the credit ratings systems? it's very different and it goes down to the intent of the system. this isn't a financial credit rating. if you go back to what they were saying in the late 90s and early 2000 when they talked about the system initially, they said it was to merge the rule of law with the rule by morality and what they meant by that was the chinese communist pa rty‘s they meant by that was the chinese communist party's version of what is true will be imposed on normal economic development in the country and normal social development in the country. essentially it's not unlike the origins of totalitarianism, talking about the role of ethics.
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in india, amazon and flipkart are launching their huge festive season sales ahead of diwali and another this month. they've invested heavily in the country over recent years as itaims to in the country over recent years as it aims to change shopping habits of millions of indians. i'm at one of amazon's new fulfilment centres in, which will be used for packaging, storage and deliveries. it's all part of their expansion plans within the country —— in mumbai. it's had a presence here since 2013 and it has invested $6 billion so far, but it's yet to make a profit. i spoke to one of the company's make a profit. i spoke to one of the compa ny‘s vice make a profit. i spoke to one of the company's vice presidents about some of the challenges his firm faces. one of the big ones will be transportation, and the infrastructure in the industry. if you look at it as amazon launched in
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india, they launched their own transportation company and we also work with sellers and identified an area, finding the right services. sellers wanting to fulfil their own orders, we gave them a shipping service. we are focused on single—use plastic. we've brought it onto most of our stuff and we are committed by june, 2020 amazon india will have zero single—use plastic. if you look at the infrastructure around us, this infrastructure is likely to create up to 2000 job opportunities for the next couple of months. we've created infrastructure for small and medium enterprise sellers to bring in inventory and by doing that to one location, we can serve the whole nation. around 2000 workers will be employed
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at this centre as e—commerce firms continue to expand nationwide, but one of the challenges that still remains is the it infrastructure in the country because despite the heavy investment, it still remains unreliable in certain parts of the country let's show you the markets before we go. japan's nikkei and australia's all ordinaries down 0.5%, with wall street falling overnight in volatile trading after the post from democrats to impeach donald trump gained momentum. both of them currently down. that's it for this edition of asia business report. thanks for watching. this is bbc news. the top stories this hour: democrats in the us house of representatives are launching a formal impeachment inquiry against donald trump over allegations that he pressured the president of ukraine to investigate his political rival, joe biden.
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the british prime minister, borisjohnson, has defended his decision to suspend parliament but said he would respect a ruling from the uk supreme court that he had broken the law in doing so. so, away from the tension and drama in westminster, what do voters in other parts of the uk make of what's happened? this week bbc news has been reporting from stoke on trent, the city with highest leave vote in 2016. our political correspondent alex forsyth has been getting views from there and from altrincham, which voted remain. bbc radio stoke. wherever the phone—in, it seems there's a prevalent view — leave or remain, people are simply fed up with how brexit‘s been handled. ijust don't know any more, i've lost the will to live. ijust can't be bothered with the lot of it. in stoke, such frustration is rife. and as well as confusion about what happens now, there's as much anger at the slow wrangling in westminster as there is at boris johnson's actions. at least borisjohnson's trying
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to get something done. if the court says it's unlawful, it's unlawful, but the question now is where do we go from here? what he's done they've said is unlawful, but i think the guy has got the country at heart. he's trying to get us a deal and get us out of what we voted for. that's exactly the view number 10 is counting on. their strategy is to win support in areas that voted leave, like here in the midlands and the north, places the tories will target if there's an election, and where they hope borisjohnson's do—or—die brexit attitude, even the fact he's pitting himself against parliament, will play well with voters. in stoke, these students attend staffordshire uni from across the country. all welcome today's court ruling, but know parliament returning won't provide simple answers. we're in this situation, we need to come up with a solid solution that everyone's going to agree on. you need everyone across the board to work together. i know that's hard at the moment, with everybody at each other's necks, but again, what brexit is doing, it's tearing communities apart.
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split views on the government's actions don't, of course, depend on location, but frustration at this whole brexit process seems to be cross—country. alex forsyth, bbc news, stoke—on—trent. just time to tell you that heavy rain has led to six flood warnings across england, with more areas told to prepare for possible problems. in london, heavy rainfall affected hundreds of roads with flooding reported on roads in southampton, birmingham and liverpool. as always, full weather reports on our website. you can get in touch with me and other members of the team on social media. that's it from me. i'll be on outside source later today. mike embley will be here at 2am. but now, time for sport today with marc edwards. hello, i'm marc edwards and this is sport today,
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live from the bbc sport centre. coming up on this programme: newly—promoted brescia take a shock lead against the mighty juventus, but the old lady fights back. successful start for samoa as they see off russia in their rugby world cup opener. we'll meet the three scandinavian siblings competing at the world athletics championships in doha. hello and thanks forjoining us on sport today. we start with football, and the italian championsjuventus maintained their unbeaten start to the new season by winning at brescia on tuesday night. that's four wins and a draw from their first five games. but they had to come from a goal down, after the home side took a shock lead through alfredo donnarumma after only four minutes. look at that for a finish! by half—time, juve were level when a cornerfrom paulo dybala was deflected in by brescia's venezuelan defenderjhon chancellor. midway through the second half, miralem pjanic won it forjuventus
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