tv Asia Business Report BBC News February 25, 2020 1:30am-1:46am GMT
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of rape and sexual assault by a jury in new york in a landmark case that gave impetus to the metoo women's movement. the formerfilm producer is being held in custody while he awaits sentencing. he could face a jail term of up to 25 years. his lawyers say they'll appeal. as thousands queue for masks in south korea, the who says the chance of containing the covid—19 coronavirus is diminishing. the number of countries and territories affected has now risen to 37 and video of president trump's first day in india is doing well on our website. he was warmly welcomed in ahmedabad, but his struggle with pronunciations caught the headlines. in particular when he mispronounced the country's most famous cricketer, sachin tendulkar. that's all. stay with bbc world news. more on our web site
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bbc.co.uk/news and the news app. i'm on social media. now on bbc news, live to singapore for asia business report. coronavirus hits global markets. asian stocks open sharply lower after the dowjones asian stocks open sharply lower after the dow jones industrial average slumped by more than 1000 points. day two, trump in india. the us president is due to meet with prime minister modi and business executives. we'll bring you a preview. hello and welcome to choose day's asia business report, i'm sharanjit leyl asia business report, i'm sharanjit leyl. we start with the impact of the coronavirus on global markets as growing concerns about its spread have stocks hard. let's look at the
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ones open in asia today, the nikkei 225 injapan, the all 0rdinaries in australia, they are lower, scaling back some of their steeper declines from a little earlier. the hang seng in hong kong is about to open, and all are reflecting the sell—off we saw in the us and europe. let's take a look at that, because in new york, the dowjones a look at that, because in new york, the dow jones industrial average fell by more than 1000 points, it biggest one—day full into years. in the uk we saw something very similar mother ftse 100 the uk we saw something very similar mother ftse100 shed 3%, its biggest drop infour mother ftse100 shed 3%, its biggest drop in four years. samira mother ftse100 shed 3%, its biggest drop infouryears. samira hussain isa drop infouryears. samira hussain is a new york. wall street is spooked clearly. the massive fall on us markets makes that point. experts are scared the impact of coronavirus could mean prolonged slowdown is globally. the number of cases has ballooned to 77,000 in china, a worrying sign for
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investors given how important and how much is made in china and sold around the world. china is also a dominant consumer of goods itself and restores —— with its doors closed and people not going out, consumer production has taken a dive. apple, google and walt disney, who do a lot of business in china and rely on it for making goods, had shares down 4.5% in trading on monday. airlines and hotel chains fell dramatically as people cancelled travel plans because of fears of the spread. if the impact of the virus is as serious as some investors suspect, it could even derail the longest economic expansion in american history. samira hussain in new york. earlier market analyst market yang told me how this is one of the first times the outbreak‘s how this is one of the first times the outbrea k‘s impacted how this is one of the first times
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the outbreak‘s impacted the global markets through this kind of degree —— margaret yang. we saw a massive sell—off globally last night and i would call it panic selling because of the re—escalation of the current coronavirus with the number of cases increasing sharply globally even though the number of new infections has dropped to a manageable level in china. what are scared investors is this virus, although less deadly than sars, may change people's behaviour, change consumer confidence and sentiment and if the situation continues to deteriorate in italy, south korea and evenjapan, we could see more cities and areas locked down and travel bans and things like that and this could bring very severe economic impact to the globe. you mentioned it is changing people's behaviour, and we saw people's behaviour, and we saw people ploughing money into safe havens like gold, at a seven—year high, silver as well. are these
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short—term moves? this is driving up demand for safety, not just gold this is driving up demand for safety, notjust gold and silver but we saw the japanese yen and us treasury has been on the beat in the last couple of days. these are safe haven rallies that might be temporary and it might come off when we see a clear turning point of new infections around the globe. you mention the turning point, but of course people are looking towards a turning point where things might return to normal. you could see pent—up demand and a steep rise in growth in later months this year. do you expect that to happen? maybe not so you expect that to happen? maybe not so fast. i would expect the situation to get worse before it gets better. referring to china's case, it takes china more than two weeks before the spread is finally contained. margaret yang speaking to me earlier. it is day two of donald trump's trip to india. the us
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president kicked off the visit with an address to tens of thousands of people in a cricket stadium in acma bad, of course prime minister mosey‘s home state of gujarat. —— prime minister modi's. you were there yesterday and back in delhi today. what happened yesterday? yesterday it was all about the pomp and ceremony and all of the fanfare since the president landed for his first official trip, he went on a roadshow and he paid tribute to mahatma gandhi, one of the main indian freedom leaders, then he went on to the world's largest cricket stadium to address 100,000, where he shared personal chemistry with narendra modi, as both talked about how both leaders have done so much to strengthen india/ us relations. the one point that really stuck out was when the president address the elephant in the room, the indo us
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trade deal, which both countries failed to negotiate and come to a settle m e nt failed to negotiate and come to a settlement ahead of the visit by the us president categorically said prime minister modi is a hard negotiator and said he is hopeful of something very massive on the trade front some time in the near future. what that is what analysts are still trying to figure out because when we spoke to experts to analyse what president trump said, they said it could have just been said president trump said, they said it could havejust been said injest because there's so much ground to cover both countries haven't even agreed on the basics. it remains to seen agreed on the basics. it remains to seen what shape this massive trade deal takes. that could form part of the conversations late in the day. so much ground to cover, you say, when it comes to the trade relationship and they are expected to get down to work today. what are we expecting? if yesterday was about the optics and the ceremony then today will be talks. what we are expecting is the first call will be to the president of india and then
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he will pay homage two gandhi's memorial in delhi, and following that there will be some meetings. in for to five hours from now, that is when the president is likely to issue a press statement and what we are expecting is a clearer understanding of the defence deal, the $2.6 billion defence deal for helicopters with lockheed martin and we are expecting some foray in the energy sector and there will be conversations on the digital field as well. we expect some clarity later in the day in that press statement. we will watch out for that. thank you so much. more on the impact of the coronavirus on business. it's been a month since measures were first put in place to combat the outbreak, with many companies in asia asking employees essentially to work from home. andrew marnie, who oversees cyber solutions in asia for the insurance company aion, told me
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about the risk this could pose. there are essentially two risks, one is about the increased fishing threat that we expect to see. the monetary authority of singapore has got ahead of that threat by saying this is the kind of thing to look out for —— phishing. e—mails from the who, or appear to be from the who, for example, inviting you to click on an attachment that might tell you more about the virus or people in your area that have it. those kinds of malicious e—mails that are really leveraging on the panic around. that is on one side. the other side is when we see this mobilisation, this large work from home experiment, are we seeing an increased attack surface and potentially devices that can be compromised and used to access sensitive company data ? compromised and used to access sensitive company data? what can companies do to protect themselves and are you seeing evidence of those
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phishing e—mails and malicious behaviour much more prevalent now? what can companies do? hopefully companies have already done some phishing training and education with their employees, employees are the frontline when it comes to and a huge proportion of successful cyber attacks come through a initial spare phishing e—mail so if they've done their homework and training, hopefully staff can deal with that. hopefully there will be an update this time to say this is what these malicious e—mails look like an we've seen a malicious e—mails look like an we've seen a few of those around. so far no reports of any great loss arising from them but certainly an increase in overhead related malware threats. —— in covid—19 related. alert them to what's happening but run through business continuity plans to understand what you do in an event systems a re understand what you do in an event systems are compromised and how ready you are to respond. andrew mahony speaking to me earlier. dual
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is halting sales in indonesia, citing concerns it can't stop retailers selling e—cigarettes to young people in a largely unregulated tobacco market —— juul. the decision in the world's most popular —— fourth most populous nation is a major setback for expansion plans and it was seen as critical to their growth as legal and other problems are in the us. a recap of the markets and how they are trading in asia. we can see the hang seng, it is down 0.4%, taking its cues from what we've seen elsewhere in the us. that's it for the show, thanks for watching. this is bbc news. the top stories this hour: harvey weinstein — once one of the most powerful men in hollywood — has been found guilty of rape in a case that sparked the ‘me too' movement. health experrts say the chances
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of containing the coronavirus health experts say the chances of containing the coronavirus are diminshing as the number of affected countries rises to 37. although more than 6,500 people have been tested for the coronavirus in the uk, so farjust 13 have tested positive, including the four cases who were aboard the diamond princess cruise ship injapan, who've now returned home. medical correspondent fergus walsh explains how people can best protect themselves from coronavirus. the new coronavirus spreads through droplets in the air when infected people cough. so, if you're just a few feet from them, you could breathe in the virus. if you touch an infected surface and then rub your eyes or mouth, that can also pass it on. it's why regular hand—washing is important. none of us has any immunity to this virus, so if there's a major outbreak, any of us could catch it. but it's worth stressing that it causes only a mild respiratory illness in four out of five people, who'll get better
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without any medical treatment. the symptoms begin with a fever and a dry cough. the older you are, the greater the risk of complications, such as shortness of breath and pneumonia. especially for those with underlying health problems, such as heart and lung disease and diabetes. but the biggest viral threat at present is seasonal flu, which causes thousands of deaths in the uk every year. if we get small, limited outbreaks here, we could see the same sort of quarantine restrictions that are being tried in other countries. school closures are possible, as are the postponing of sporting fixtures and other public events — anything where large groups of people congregate. but if we get cases popping up all over the country, then locking down communities
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won't be possible. instead, the focus will be on getting people to self—isolate. the longer we can keep this virus at bay the better because with the warmer weather, there's a chance that cases might start to dwindle. much more on the coronavirus on our website, much more detail and background and analysis. much more on all of our stories on our website and you can get in touch with me and some of the team via social media. i'm on twitter. mike embley will be here at 2am with all the day's news. now on bbc news, sport today. hello, i'm gavin ramjaun and this is sport today, live from the bbc sport centre. coming up on this programme:
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liverpool survive a second—half scare at anfield — but recover against west ham — to equal a winning record in the premier league. will anybody be at the big game in serie a? italian football authorities are unlikely to risk fans spreading coronavirus, whenjuventus host inter on sunday. and three balls away from a shock second defeat, but hosts australia scrape their first win of the women's world t20. hello, and welcome to the programme. it was business as usual for liverpool, with yet another win in the english premier league, equalling a top flight record with their 18th in a row. but they were given a slight scare by west ham at anfield. the hammers went 2—1 up in the second half, having held their own against the runaway leaders. pablo fornals put them ahead but they couldn't hold on, and mo salah and sadio mane making it 3—2 to liverpool.
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