tv Asia Business Report BBC News October 1, 2019 1:30am-1:45am BST
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of the communist party coming to power. celebrations for the people's republic are planned across china. officials in hong kong are bracing themselves for more pro—democracy protests to coincide with the anniversary. president trump's personal lawyer, rudy giuliani, has been ordered to hand over all documents relating to his work for mr trump in ukraine as part of the us presidential impeachment inquiry. and the antarctic producing its biggest iceberg in more than half a century is getting a lot of attention on our website. the berg weighs around 315 billion tons, but researchers say it is a natural phenomenon, and not directly linked to climate change. that's all, stay with bbc world news.
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and you can get all the latest on our website. that is bbc. co. uk/news. now on bbc news, live to singapore for asia business report. communist china at 70. as the people's republic marks this significant milestone, we look at the challenges faced by the country's carmakers. wework pulls it share sale. one of the world's most hotly anticipated ipos is dropped. hello and welcome to asia business report. we start with china, because the country marks a major milestone today. it is 70 years since the communist party found that the people's republic. there has been
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significant turmoil, and also vast progress, in the decades since then. the economy began to boom in the 19805 the economy began to boom in the 1980s after opening up. by one measure both the world bank and the imf rate china is the world's biggest economy. the vast country has been the biggest contributor to global growth in recent years, dominating key markets including autos. but as robin brant reports from shanghai, the tide has turned. this is china's most famous car, which means read flag. built in the first decade of the people's republic, it has carried everyone from the country's founding father, mao tse tung, to its current leader, xijinping. in the decades between this and this, china has become the world's guest car market. it has that moment passed 7 world's guest car market. it has that moment passed? it is the midweek afternoon and they are thinking about buying. but they don't want something new.
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translation: i am still looking around, the software developer told us. i haven't decided yet. and there is plenty to see here, in one of china's biggest secondhand car markets. translation: he is not your average car salesperson. ten years ago, this business was almost niche. now it is spreading beyond the big cities, but the chinese don't trust because that have been owned before. and there is the price. translation: in recent years there are more people buying secondhand cars. maybe because the business environment is not growing, or even declining. you have to pay purchase tax, too, for a new car, but not for used ones. this place is a microcosm in a way of where china's economy stands as it marks this significant birthday. some people have come here because they have had a tough year with the business and are tightening their
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belts. for others it is the opposite. they are investing in a premium car to impress new clients. but what no—one he is doing is buying a new car. we don't have people who are addicted to owning cars, we don't have people who have been buying cars for multiple generations of time. it has been a relatively recent phenomenon, and people are starting to realise that mobility needs can be satisfied by other methods in buying a new car. you can buy a used car, which are available in increasing supply, or you can book a car with your mobile phone. china is at the heart of those revolutionary changes in how we transport ourselves around. next to the rice fields, tesla is building its first factory outside the us. the timing is not great. the hungerfor new the us. the timing is not great. the hunger for new cars here the us. the timing is not great. the hungerfor new cars here is the us. the timing is not great. the hunger for new cars here is still falling. china is determined to build for a future with far more electric vehicles on its roads. central to china's 70th anniversary celebrations today will be a huge
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parade in beijing offering a glimpse into the nation's growing military might. this year's event will feature some 15,000 troops, more than 160 aircraft, as well as 580 other pieces of military equipment. earlier i asked a defence industry a nalyst earlier i asked a defence industry analyst what he will be looking for today. well, the focus of this parade will be on presenting materiel, military equipment that china has built itself, which is a real marker of its progress over the past couple of decades, and its move away from dependency on foreign equipment, particularly russian equipment. now, we are seeing increasingly this focus, and this is something we will be watching in this parade, an increasing focus on capabilities that provide china with anti— access area denial capability, which is a concept used to prevent an adversary from occupying territory. and in this sense, of
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course, this territory is china's influence in the south china sea and east china sea. so the aim, really, of this military equipment, military technologies, is to secure its territory. the shared office space company wework has officially scrapped plans to sell shares on the stock market. the move comes after the ousting last week of its founder, this gentleman right here, as chief executive. the bbc‘s correspondent has the latest from new york. it was a stunning fall from being one of the most hotly anticipated ipos of the year, but in just six weeks wework went from being valued at $47 million to putting its plans to become a publicly traded company on pause. wework founder and ceo adam neumann was kicked out of his job as ceo as investors made it clear they were not interested in putting money into a company that has run up huge losses and wouldn't be profitable for a long time. also making
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investors nervous for a long time. also making investors nervous was for a long time. also making investors nervous was just how the company was being managed. so now the new leadership team at wework is trying to chart a new path by taking steps to cut costs. mr neumann's private jet is being sold, some side businesses are also up for sale, and it is also considering laying off up toa it is also considering laying off up to a third of its workforce, so that's about 5000 people. now, wework has said it is postponing its ipo, but it is clear that it will ta ke ipo, but it is clear that it will take a long time before it will be able to get the attention of investors again. in other news now making headlines, south korea's annual inflation fell below zero for the first time on record in september. the country's consumer price index slid 04% in september from the previous year, posting the first negative annual rate sense data releases began in 1965. that was due to a plunge in farm products
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prices coupled with weak consumer demand. in the us, republican new york congressman chris collins resigned from congress amid reports he plans to plead guilty to charges of insider trading. according to the charges, mr collins gave confidential information about an australian biotechnology firm to his son. he had called the charges meritless and pleaded not guilty, but will reportedly change his plea. a recent report released by cisco, us networking and telecommunications firm, found that more organisations in the asia—pacific ‘s struggle to recover from cyber attacks. almost in the asia—pacific ‘s struggle to recoverfrom cyber attacks. almost a quarter of companies in this region suffered downtime longer than 24—hour is, as opposed to the global percentage of 4%. so why is that?
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let's bring in our next guest today. stephen is cisco's managing director in cyber security for the asia—pacific. welcome to the programme. first up, explained to us why this region, asia—pacific, is experiencing a longer downtime than most. well, we see a significant number of technology offenders chosen within the organisations in asia—pacific compared to the global average, and we see a lot of complexity within these organisations' environments. and that leads to a lot of inefficiency, a lot of manual process, and therefore it takes organisations too long, really, to recover. it is interesting because obviously your firm sells cyber security software toa firm sells cyber security software to a lot of these companies. they are buying it from you, they are buying it from other companies as well, they are spending a lot of money. so what should they be doing instead ? money. so what should they be doing instead? we are encouraging organisations to take more of the platform —based approach. when we
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say that we mean instead of by new technology from ten, 20, or even 50 offenders in some cases, we would encourage organisations to think more about how they utilise the technology, and how it learns, listens and actually works together to respond to the attacks that are taking place. and do you think that perhaps simplifying, as you are suggesting there, it is going to make it easier for cyber criminals to break in? shouldn't the issue and the onus be actually on hiring the right people who can actually decipher between these different systems ? decipher between these different systems? well, i think there are three things that need to be done. the first is a strong technology choice, and we think of platform based approach is more efficient, because you can automate those processes , because you can automate those processes, which makes it easierfor the analysts who are actually receiving all the alerts to determine what is actually legitimate and how to actually read that weekly. if we can automate the process with the technology choice, that really creates inefficiencies. but also there is a process and the people issue, and i think the three
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need to be taken together to actually really try and solve the problem. thank you so much for coming into the programme to discuss that with us. let's have a look at the markets. they have opened in asia. japan has made some slight gains. that is really due to an easing of tensions between the us and china on the trade war. there is also a slightly weaker yen, which as we know always boosts exporters. and of course they are also taking their cues from the us overnight, where wall street also made gains. that's it for this edition of asia business report. thank you for watching. this is bbc news. the top stories this hour: china is celebrating 70 years since the communist party came to power. donald trump's personal lawyer is ordered to hand over documents on ukraine, as the president calls for the democratic congressman leading the impeachment inquiry
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to be arrested for treason. prince harry has paid tribute to a british soldier killed trying to stop poaching in malawi. while on his tour of southern africa, he said people who wanted to protect nature should not be dismissed as hippies. our royal correspondent nicholas witchell is travelling with the prince and sent this report. liwonde national park in malawi — a place which should be a sanctuary for wildlife, for elephants in particular. except for this. the scourge of the poaching gangs, which kill wildlife in africa's game parks. it is a problem which takes human life as well.
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prince harry laid a wreath at a memorial to guardsman mathew talbot from the coldstream guards, killed earlier this year while he was on an anti—poaching patrol in support of local park rangers. having killed an animal... and then a demonstration laid on for the vip visitor. a gang of poachers who have killed an elephant are making off with the prized ivory tusks. in pursuit, a joint british army park ranger patrol, tracking them through the bush. it ended, unsurprisingly, with the poachers rounded up and in custody. this is a carefully staged example of what happens at the sharp end of the battle against the poachers. but of course, the underlying issue here is the need to conserve nature. and on that, harry, who is opening a new section of forest, part of the queen's commonwealth canopy today, on the whole question of conservation, he has something to say. for me it is striking a balance, and i think the way that — i'm going to be accused of being a hippie saying this,
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but in today's world it's more acceptable. everything is in the balance. we are the only thing putting everything out of balance, so somehow we need to be able to accept and learn and appreciate what already exists, rather than destroying it and realising we need to recover from it, because we are literally driving ourselves to extinction. so that is twice on this tour that harry has spoken up about conserving the natural world, and from a setting such as an african game park, one might wonder who would contradict him. much more on all of our stories on our website and on social media. mike embley will be here at 2am with the rest of the day's news. now on bbc news, sport today. hello, i'm marc edwards and this is sport today, live from the bbc sport centre. coming up on this programme:
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norway's warholm king of the world as he retains his 400 metre hurdles title at the world athletics championships. all square at old trafford — it's united's worst start to a season since 1989. auld langs fine! scotland are back on track at the rugby world cup as they thrash samoa. hello and welcome to the programme. we start in qatar where norway's karsten warholm held off close rival rai benjamin to defend his world 400m hurdles title in doha. the 23—year—old took the lead with 150m remaining and stayed just ahead of the american with qatar's abderrahman samba in third. here's our sports reporter ade adedoyin. once again, the stadium was not full but there
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