tv Asia Business Report BBC News June 8, 2023 12:30am-12:45am BST
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japan gears up to release it to the latest growth figures, likely growing more than expected. and we take a bite out of labral meat. we —— lab grown meats. hello and welcome to asia business report with me, mariko oi. in about 20 minutes, japan will be releasing final reading on economy performance for the first three months of this year. a reuters poll suggests the economy likely grew more than initially estimated. the boost is likely to have come from a rebound in the tourism sector afterjapan dropped sector after japan dropped post—covid—i9 restrictions earlier this year. the optimism is reflected in the stock
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market too. it did dip a bit yesterday. it's a some 15% in the last quarter outperforming all the major global intimacies. we were told what is expected from the gp numbers. is expected from the gp numbere— is expected from the gp numbers. , ., ., , numbers. the print emma larry numbers. the print emma larry number was _ numbers. the print emma larry number was 1.696 _ numbers. the print emma larry number was 1.696 for _ numbers. the print emma larry number was 1.696 for the - numbers. the print emma larry| number was 1.696 for the annual number was 1.6% for the annual iceberg based on 01 —— preliminary. it could be as high as 2%, and this optimism is supported by two positive factors. one is an assumption thatis factors. one is an assumption that is stronger than ever, and secondly, it is capital investment by the businesses which continues to be strong. despite the slight bit yesterday, it's trading at a 33 year high. is this optimism about the economy or something
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else? i about the economy or something else? ~ u, about the economy or something else? ~ u, , else? i think it can be explained _ else? i think it can be explained in - else? i think it can be explained in three - else? i think it can be - explained in three factors. one is a structural one. there is an expectation that the economy is finally getting out of the deflationary tunnel for 30 years. two, there's a reassessment of japanese companies three earning —— companies�* earning. thirdly, there is a shield little —— geopolitical uncertainty surrounding japan. to talk about issues, _ surrounding japan. to talk about issues, but - surrounding japan. to talk about issues, but of- surrounding japan. to talk l about issues, but of course, another concern is china�*s slower than expected recovery from covid. should we be worried about this because china is such a huge trading partnerforjapan? we china is such a huge trading partner forjapan? we should absolutely — partner forjapan? we should absolutely be _ partner forjapan? we should absolutely be worried, - partner forjapan? we should absolutely be worried, and i partner forjapan? we should l absolutely be worried, and that is probably the biggest concern for the world economy as well. so far, japanese gdp is supposed to be enough to be 23
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continuing to 26, but that�*s assuming that the global economy recovers or at least capitalises because japan export a lot, and then we are seeing for the fourth quarter, a little bit of a blip in the exports. a little bit of a blip in the “porte— a little bit of a blip in the exports. a little bit of a blip in the exorts. ,, �* , ., , exports. she'll be “oining us on the next _ exports. she'll be “oining us on the next of _ exports. she'll be joining us on the next of asia - exports. she'll be joining us j on the next of asia business purport to crunch some numbers. the various aerospace company has been accused of stealing and misusing international popularity for nasa. a lawsuit has been slow against boeing by a small us company. 0ur north america business correspondent michelle fleury has the latest from new york. a small colorado company is accusing boeing of a cover—up to generate company profit. boeing has responded saying this lawsuit is rife with an accuracy and they will vigorously defend against in court. is this case about?
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wilson aerospace said it was hired by boeing between 2014 and 16 to attack engines to an asset to return humans to the moon. but according to the complaint was filed in seattle, boeing terminated the contract and produced versions of its intellectual property that were not only flawed, but created safety risks but with the lives of astronauts at risks. david wilson, president and founder of wilson aerospace, describe those as beyond despicable. they are seeking damages from boeing for use of its trade secrets. �* ., , , , secrets. bashir fleury. fires in canada — secrets. bashir fleury. fires in canada have _ secrets. bashir fleury. fires in canada have caused - secrets. bashir fleury. fires| in canada have caused flights to be delayed after resulting in reduced ability new york and philadelphia. triggering health alarms and sending residents
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indoors. staying on aviation, the director general of the international air transport association said he expected the industry to double its profits in the year ahead. in an interview with ben thompson, he also warned of headwinds facing the spectre.— he also warned of headwinds facing the spectre. we've been throu~h a facing the spectre. we've been through a very _ facing the spectre. we've been through a very difficult - facing the spectre. we've been through a very difficult time i facing the spectre. we've been through a very difficult time -| through a very difficult time — prolonged crisis beyond anything we�*ve experienced before, but we are broadcasting profitability this year. 9.8 billion us dollars is a big figure, but in margin terms, represents 1.2%. we�*ll make a profits about $2.25 per passenger, which wouldn�*t buy a cup of coffee in geneva where i live. still a long way to go. pretty much near shutdowns where you are, that inevitably has growing pains and problems. i noticed your members saying they can�*t get the planes that
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they can�*t get the planes that they need. why is this still a shortage of actual era planes? the particular issue is spare parts. that�*s impacting the production on aircraft, but more importantly, getting new parts for aircraft. if on a scale that i�*ve never seen before. we are getting complaints from just about every airline ceo in the world. it's every airline ceo in the world. it�*s a problem that by all accounts i think we will face for a couple of years, so it�*s of great concern to the industry because it is restricting the pace of which we can recover.— restricting the pace of which we can recover. how confident are ou we can recover. how confident are you that — we can recover. how confident are you that this _ we can recover. how confident are you that this summer- we can recover. how confident are you that this summer willl are you that this summer will go off without a hitch? i�*m looking right across the board here in terms of data package and pamphlet —— baggage and passenger handling. massive disruption that was called by cancellations.— cancellations. the pasted surprise _ cancellations. the pasted surprise some _ cancellations. the pasted surprise some people. i cancellations. the pasted| surprise some people. we cancellations. the pasted - surprise some people. we may see a couple of issues where china has reopened much sooner
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than most had expected. but in the main, i think everyone has learned. we are mainly concerned about air traffic control. there�*s clear evidence they don�*t have sufficient traffic control in the us, and already, we�*ve seen capacity reduced in the us to take account of known shortages of staff there. in europe, they see persistent strikes, and because of the location of france, is interrupting traffic right across europe. speaking to ben thompson. _ right across europe. speaking to ben thompson. when - right across europe. speaking - to ben thompson. when singapore became the world�*s first country to authorise the sale of raw meat, hungry investors saw an —— a way that was ethical and green —— lab—grown meat. two and a half leaders leaders, as has claws. nick marsh has more. —— has stalled.
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it's marsh has more. —— has stalled. it�*s lunchtime in singapore. how about this — chicken, not from a farm, but grown from a lab? is been approved for sale for nearly three years in singapore, but this is still the only restaurant in the city, and therefore in the world, where customers can order it. it�*s made by good meets, part of the startup called nine —— eastjust. i�*zre called nine -- east 'ust. i've one called nine -- east 'ust. i've gone to h called nine -- east 'ust. i've gone to many_ called nine -- eastjust. i've gone to many abattoirs - called nine —— eastjust. i�*e: gone to many abattoirs and called nine —— eastjust. ia: gone to many abattoirs and i seen over taxing, animals being killed, and there is a more humane way of doing it. and to lessen the burden on our resources, i�*m happy to try it. and so are his customers. fluids need? is perfect! —— it�*s meat. naturally, i had to try some, of course. moment of truth. smells like fried chicken.
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yeah, tastes like fried chicken. that process, maybe, but he would never know this came from. and this in fact is where it comes from — the process involves extracting cells from the animal, feeding them with nutrients, and then fermenting them in a bioreactor like this. it�*s a slick but ultimately costly operation. it's ultimately costly operation. it�*s also very energy intensive, and there are plenty of scientist question its viability. of scientist question its viability-— of scientist question its viabili . ., ._, ., viability. can you do at that stale. viability. can you do at that stale- can _ viability. can you do at that stale. can you _ viability. can you do at that stale. can you talk- viability. can you do at that stale. can you talk about i stale. can you talk about saving _ stale. can you talk about saving the _ stale. can you talk about saving the world - stale. can you talk about saving the world with - stale. can you talk about . saving the world with this? stale. can you talk about - saving the world with this? the answer— saving the world with this? the answer is — saving the world with this? the answer is no _ saving the world with this? the answer is no because _ saving the world with this? the answer is no because investors| answer is no because investors are huge _ answer is no because investors are huge if_ answer is no because investors are huge if you _ answer is no because investors are huge. if you don't - answer is no because investors are huge. if you don't have - answer is no because investors are huge. if you don't have anl are huge. if you don't have an honest— are huge. if you don't have an honest story, _ are huge. if you don't have an honest story, do _ are huge. if you don't have an honest story, do something . honest story, do something else — honest story, do something eise hit_ honest story, do something else. �* ., ., g , else. at the moment, eat just is producing — else. at the moment, eat just is producing a _ else. at the moment, eat just is producing a couple - else. at the moment, eat just is producing a couple kilos - else. at the moment, eat just
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is producing a couple kilos a l is producing a couple kilos a week, and you compare that to the 4000 kilos of conventional chicken sold here at hoover�*s alone, and you get a sense of the scale of the task. this alone, and you get a sense of the scale of the task.- the scale of the task. this is a lifetime — the scale of the task. this is a lifetime project. _ the scale of the task. this is a lifetime project. maybe i the scale of the task. this is a lifetime project. maybe a l a lifetime project. maybe a multiple lifetime project. what to do something like that, you have to start somewhere, and we�*re starting here. ida have to start somewhere, and we're starting here. no animals were harmed — we're starting here. no animals were harmed in _ we're starting here. no animals were harmed in the _ we're starting here. no animals were harmed in the making - we're starting here. no animals were harmed in the making of. were harmed in the making of this lunch. scientifically, that�*s in itself and a minor miracle. the energy is urging for patients, but given the billions being poured in by investors, soon they�*re going to want to see this is more than just to want to see this is more thanjust a to want to see this is more than just a novelty. to want to see this is more thanjust a novelty. nick marsh, bbc news, singapore. nick has written an article about it, so do check that out on their website. that is it for this edition of asia business report. thanks for watching. bbc news — bringing
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you different stories from across the uk. huge crowds enjoyed live music while soaking up the sun at brockwell park�*s mighty hoopla festival at the weekend, but not everyone was a fan. peter bradley�*s 13th—floor flat overlooks the park. people say you�*re a nimby and you don�*t want it in your back yard, but you can see this is my back yard, and to have events of this loudness... well, cos you can actually feel the music. you can feel it. i work from home. it�*s almost impossible to work from home when events like this are going on. lambeth council says... it added...
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meanwhile, the council apologised for any noise disturbance caused by the events and has already said it will see if there are any lessons to be learned for the future. for more stories from across the uk, head — to the bbc news website. hey, i�*m zof with the catch up. tonight — day two in court for prince harry, glasto advice on disposable vapes and a furry passenger. doctors in england may start offering weight loss jabs to some patients to help reduce obesity—related illnesses. some are calling them skinnyjabs, they�*re widely used in the us and backed by many celebs — but it�*s important to understand they aren�*t a quick fix for a replacement for a healthy lifestyle. sarah spoke to us, as she thinks this is an exciting development.
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making sure that people are getting the right support with the medication is still going to be really crucial, but if we can make it so that more people can get access, then that�*s a huge step in the right direction and something that�*s really exciting. some other stories for you now — day two in court for prince harry and his case against the daily mirror, who he has accused of hacking his phone to uncover stories. he said he once found a tracking device on his ex—girlfriend�*s car. the mirror said they got the stories from legitimate sources, though. and millions of people in north america are facing dangerous air quality levels as wildfires burn across canada. officials say it�*s shaping up for its worst wildfire season on record. export experts say it�*s a warmer and drier spring than normal. yesterday, we spoke about calls to ban disposable vaping. today, glastonbury has advised people not to bring disposable vapes to the festival this year due to what they call "environmental and safety concerns". time now for ten seconds of
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