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tv   Asia Business Report  BBC News  December 4, 2019 1:30am-1:46am GMT

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released its impeachment inquiry report, which accuses president trump of putting his personal interests ahead of america's. it claims there is overwhelming evidence of misconduct. the white house says there is no proof of misconduct and the report is a one—sided sham. presidents trump and macron had a tense meeting at start of the nato leaders summit in london, with president trump saying the french president was disrespectful for describing nato as brain dead. and this picture is trending on bbc.com. it's a picture taken by british woman kathy smith of all 17 of her pets — all obediently facing the camera and keeping still. she says it took several days of trying to get the perfect portrait. eye better did. it certainly is perfect. from me and the team thanks for watching, bye—bye.
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more on our website bbc.co.uk/news and the news app. now on bbc news live to singapore for asia business report. eye shall see you shortly. markets fall as more tensions are expected between beijing and washington. google‘s founders step down from running its parent company alphabet. good morning, asia, hello, world. it's a wednesday. lead you could join us rather exciting mid week edition of asia business report. i'm rico hizon. we start off with the ongoing us china trade ties because in the last half hour us house of representatives has passed a bill that calls on china to and what calls arbitrary detention, did ——
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torture, and harassment of uighurs and other ethnic muslim minorities. it will now go to president trump to sign or to veto. just last week beating reacted angrily after president trump signed us legislation which aims to protect human rights of pro— democracy protesters in hong kong. the two countries are still in trade negotiations and investors were hoping that they would come to a resolution before the next tariffs are scheduled to kick in on the 15th of december. but president trump says a trade deal with china might not happen until after the 2020 elections, which meant shares on all the three major us indices fell into the three major us indices fell into the red. the dow, the s&p, on the nasdaq. as for asian share prices, they are also under pressure with they are also under pressure with the nikkei and the all ordinaries down by more than 1%. earlier i asked the chief investment
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strategist from northern trust what he made of the us president's comments about the deal with china. the truth is we're not quite sure what is happening here. busy using this as a pressure point to get china to agree to a phase i deal quicker or is he genuinely using trade here is a campaign issue for the 2020 election, basically pushing china back and letting the issue run until the election campaign really kicks off? what did you think is happening here? one ortwo kicks off? what did you think is happening here? one or two or both? the fickleness of trump makes that question how to answer. we do know the negotiations on that prodl have gotten quite far. we don't think they have abandoned it altogether. so the market is correcting here a little bit but clearly has not given up little bit but clearly has not given up hope that the phase i deal will still happen. when wall street surged to all—time highs last week, president trump said enjoyed this surge in the markets and now we have seen the markets fall and correct and added to all this pressure,
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potential tariffs against the french, argentinians, and resilience of. you are absolutely right. the market should be correcting here a little bit. clearly the recession risk had been put into really low level. some of that story is now going away. that is being reflected in prices. the question is, however, is this really a turning point for donald trump? we're not sure. we're still hopeful the phase i deal will happen. if the tariffs are imposed in december 15 could we see a further slowdown in global growth in 2020 mozela it certainly won't be helpful. it would definitely be a negative. clearly markets would reflect that as well in the negative sense. we are hopeful that doesn't happen but it is clearly a risk. larry page and sergey brin who founded google in a garage in 1998 are stepping down from running its pa rent are stepping down from running its parent company alphabet. they will remain on the board and the current google boss will serve as chief executive officer of both google and
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alphabet. they asked dave lee why they decided to give all the responsibilities to him. an interesting move because the reason my alphabet was created in the first place was to create some distinction between google comedy bit of the company that makes money, and the other projects under alphabets such as waymo, the self—driving car company, things like internet balloons, the fact that he will be running all of that it will be interesting to see how investors feel about that. i have distress that while page and brimble step—down from being ceo and president, between them they will still have 51% of the voting rights on alphabet‘s board. so while sundar pichai may have more control over the day—to—day running of the company ultimately think it's to say the final say will be down to sergey brin and larry pay. that was dave lee in silicon valley. sundar pichai
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is from tamil nadu in india. we go to mumbai to talk about this rising star in the corporate world. he is 110w star in the corporate world. he is now probably one of the most powerful indian businessmen in the corporate world. that's right, rico. he really embodies the modern american dream for many indians. busily many indians working in the it sector, in technology. he is someone it sector, in technology. he is someone who studied here in india at the indian institute of technology. a widely reputed institution and then went to america and rose up the ranks. he is widely credited with creating google chrome, something many indians are familiar with. now he is leading one of the biggest technology companies if not the biggest technology company in the world. sundar pichai also has deep roots in india. it comes back to visit. he was here earlier in the year to celebrate women's day. that is because he really promotes women
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working in technology and helping girls code, for example, in order to get them into the market. it is widely expected to be a very prime moment for many in his —— proud. thank you so much for that update. a civil decimation trial and los angeles against elon musk is being was for the impact on the brands he represents like tesla and spacex. lawsuit was brought on by a british cave driver, vernon unsworth, one of the heroes in the rescue of a dozen thai teenage footballers from a cave last year. mr musk said he did not intend to call him a paedophile when he called him peter guy on twitter. he asked for the lawsuit to be dismissed but the federal judge he asked for the lawsuit to be dismissed but the federaljudge that the case should proceed. the branding expert said social media can help or harm. there are not many
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ceos who personify the brand. you think richard branson, using bill gates, you think elon musk. in terms of tesla, more damage will be done by him smashing the window during the demonstration of the new pickup truck than a tweet like that. that will damage the product. he has done this kind of thing before. he smoked a joint on this kind of thing before. he smoked ajoint ona this kind of thing before. he smoked a joint on a podcast. he made the point about the private funding. but it is really just, point about the private funding. but it is reallyjust, that contradiction of who you are expecting to be. the cayman islands is engaged in a fierce debate about whether to redevelop the country's mainboard. it would initially be paid for by a group that includes the world's two biggest cruise companies. it is feared that it would cause irreparable damage to the country's pristine coral reefs. we have more now from the grand cayman. in these turquoise waters, battle lines are being drawn. brits with marine life, one of the caribbean's last healthy coral reefs could be under threat was about cameras ca ptu red
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under threat was about cameras captured this endangered green turtle feeding in the shallows. it's this kind biodiversity that needs protecting, argue conservationists like nadia hardy. it is a really unique area. that's why cayman is so famous for diving and snorkelling. it's just pristine. there are so many varieties of marine life, but also coral. we have endangered species here which we have to protect. that is what is at risk. a consortium, including the world's two biggest cruise lines, plans to dredgejoyce outer two biggest cruise lines, plans to dredge joyce outer harbour to two biggest cruise lines, plans to dredgejoyce outer harbour to build a new pr, replacing these small boats which vary passengers to all passengers to shore. —— georgetown. the $250 million project doesn't go ahead they could boycott it. we know ahead they could boycott it. we know a pair is betterfor the guest experience. it allows us to utilise the destination in a much more convenient manner. guests will come off the ship at a much higher rate.
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the government is backing the port redevelopment. the balance we have to understand from a government policy is how do we balance the need of the people for jobs policy is how do we balance the need of the people forjobs and opportunities, compared to our environment that we have to protect for the next generation. opponents argue hotel guests spend far more money on the island than cruise passengers and the government should focus on attracting those instead. tourists come to the cayman islands to experience the unique marine environment right here on their doorstep. critics of the port redevelopment say the plan for the risk the country's greatest asset. people come here for the diving experience, to see the beautiful creatures we have in the water. experience, to see the beautiful creatures we have in the waterlj don't think they should do that. it might shock the coral. proponents the new peer will safeguard for generations. they vote in a referendum expected next year. in
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other business years, making headlines, president trump has suffered another legal defeat and his battle to protect his finances from scrutiny after deutsche bank was forced to disclose a struggle to congress. the decision was made by a federal court in new york the cases will likely be decided by the supreme court. mr trump is asked of the body ‘s claims of immunity from investigation. there is a quick look now at asia—pacific markers and how they are faring. the hang seng has just opened for trading and is down by 120%. the nikkei 120%. the biggest fall is the all ordinaries, 1.596. biggest fall is the all ordinaries, 1.5%. thank you for investing your time with us. i'm rico hizon. goodbye for now. this is bbc news. the top stories this hour: the us house intelligence committee has released its impeachment inquiry report, which accuses president trump of putting personal gain ahead of the american national interest. the white house says there is no evidence of any wrongdoing.
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mr trump says the french president's depiction of nato as "strategically brain dead" was nasty. mr macron says he stands by his comment. the 12—year—old boy killed in a hit—and—run incident, outside a school in essex, has been named as harley watson. he was struck near debden park high school on monday afternoon. a 51—year—old man has been arrested on suspicion of murder, as well as the attempted murder of five other people injured in the crash. our correspondent, tolu adeoye, reports from loughton. harley watson has been described by his family as a good, kind, helpful and lovely boy. in a statement released this evening they have said they are devastated by his death. yesterday morning harley went to debden park high school as usual, but the 12—year—old did not make it home. he was one of several students hit by a car on this road in loughton, just metres from his school. this woman's son was one of those hit in the crash.
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flew down there, just jumped out of the car. i went over to who i thought was alfie, but it was harley. i saw him in the corridors — i talked to him sometimes. it's just heartbreaking to see his little body there, really. following an appeal police arrested 51—year—old terry glover late last night in loughton. he's being held under suspicion of murder, six counts of attempted murder, and causing death by dangerous driving. the school has been opened today and counselling has been offered to students. there have also been prayers at a local church. many people are just asking why this happened to an innocent boy who was just trying to make his way home from school. police have said a second incident where a car mounted a pavement at another school yesterday may be linked to the fatal crash. they're still appealing for witnesses, as a family
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and a community mourn a young life cut short so suddenly. tolu adeoye, bbc news. the family of the man who carried out last week's attack near london bridge, say they are shocked and saddened by what happened, and that they totally condemn his actions. usman khan killed jack merritt and saskia jones, and injured three others, before being shot dead by police. in a short statement, his family expressed condolences to the families of the victims. we have much more on our website. for now it is goodbye from me. now on bbc news sport today. hello. this is sport today, live from the bbc sport centre. coming up on this programme: gabrieljesus scores a double as champions manchester city beat burnley 4—1 closing the gap
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on premier league leaders liverpool to eight points. after a seismic shock in heavyweight boxing, can andy ruinunior upset anthonyjoshua again? we'll be in saudi arabia ahead of the weekend's blockbuster. and defending champion ronnie o'sullivan is through to a last 16 clash against china's ding junhui at the uk championship. hello and welcome to the programme, where we start with the footballing news that manchester city have narrowed the gap on premier league leaders liverpool to eight points after a crushing 4—1 win over burnley at turf moor. pep guardiola's side can ill afford to lose anymore ground on their title rivals and it was a double to brazilian international gabrieljesus that set them on their way to the victory.
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isaid, the i said, the last

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