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tv   Asia Business Report  BBC News  June 16, 2023 2:30am-2:45am BST

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liv golf, and the saudi backed liv golf, could be injeopardy now. the us justice could be injeopardy now. the usjustice department is now probing the merger. the merger of the pga with liv left some players angry, fans and disbelief, and has now brought the ire of lawmakers in the us government. the justice department has informed the pga it will now be investigating the deal for anti—trust concerns. the pga's relationship with liv was already being investigated by the department ofjustice last year and it was looking at whether the pga backed tours were engaged in anti—competitive brick behaviour. all of this comes after two democratic senators were urging thejustice department to investigate the deal as it violated anti—trust laws, saying it would have an adverse impact on competition. the lawmakers also said that the merger would help saudi arabia esports wash its egregious human rights record.
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liv was created in 2021 and backed by the saudi sovereign wealth fund. since then the two parties were better rivals, each engaged in lawsuits against one another. the mega deal essentially created a whole new golf association led by the saudis. meanwhile, us judge has granted a request from prosecutors to try some of the charges against crypto currency exchange ftx's founder sam bachmann friedman in a second trial next year. the 31—year—old will stand trial in october of the charges stemming from the collapse of the now bankrupt firm. mr bachmann fred had pleaded not guilty to the charges. china's economy stumbled last month after the latest data showed industrial output in real estate sales both missed forecasts. earlier this week china's central bank slashed the interest rates in a bid to boost the country's post pandemic recovery. earlier i spoke to the smp global market
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intelligence and she �*s explained to me what is happening to china's economic rebound. ~ . ., , ., rebound. what we have seen for china is the _ rebound. what we have seen for china is the reopening _ rebound. what we have seen for china is the reopening really - china is the reopening really helping to power up the economy, but i think the numbers that we have seen official numbers on industrial production in particular, they represented a kind of slowdown in manufacturing and we have seen that in the rest of the world and to what it we have on hand at this point is a weakness but to a large extent this is also external when we look at regions including the us and europe, this is underpinning what we are seeing at this point in time, i think what we have actually isn't even recovery still for china and a lot of what we are seeing with services in particular, that kind of demand is pulling away from manufacturing goods produces someone that and i
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think that divergences continues to be the case. to india where tech companies will have to brace for a tough 2024 after a banking giant predicted after a banking giant predicted a bleak outlook in a new report. almost all of india's it companies reported poor results in the quarter gone by and now things are expected to get worse this year. that's because of weakened global demand for it services like in europe and the us, jpmorgan expects project referrals as a result of lower discretionary spending in these markets which will negatively impact it revenues here in india. this growth is unlikely to return in a hurry for the $250 billion industry which is the biggest contributor to india's services exports. the brokerage expects mode it services to ms current earnings expectations and says the industry will grow at less than 5% of the current fiscal
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as against the four — 7% growth predicted after the march quarter results. you might be familiar with the company foxcon, making about 60% of apple's products. the phone is looking for the next big thing, but it's also becoming increasingly caught between geopolitical tensions. my colleague got exclusive access to foxcon's chairman. the changing of the guard at taiwan's national revolutionary martyrs shrine, this is an island always been on edge, a self—rule with democratic elections, but china sees it as a rebel region that must be reunited with the mainland by force, if necessary. that has led to companies like foxcon headquartered in taiwan having to re—evaluate their options. your operations are headquartered here, you are a vital part of the taiwanese economy. what is the business
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contingency plan here? the diversification _ contingency plan here? the diversification is _ contingency plan here? tue: diversification is one contingency plan here? tte: diversification is one way is a business, as a ceo, i had to think about what if the worst case happened? so we are doing something, some bcp planning, hopefully it will not happen, but we had to be prepared. foxcon's success has been leveraging the relationship between the us and china over the last few decades, manufacturing in east for in the west. by its own admission, foxcon likes to keep a low profile, but even if you have not heard of the company itself, you probably would have seen one of these, the iphone. each iphone will be containing hundreds of components, and foxcon makes around 60% of them, from things like the connector demo camera module and even the back of the phone. smartphone sales are
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plateauing, and foxcon needs to find the next big thing, the next iphone, so to speak, to drive growth forward. enter electric vehicles.— electric vehicles. ok, let's no! if electric vehicles. ok, let's go! if we _ electric vehicles. ok, let's go! if we look _ electric vehicles. ok, let's go! if we look at _ electric vehicles. ok, let's go! if we look at the - go! if we look at the components count, a typical ev has about 10,000 parts, competitive forward, that is about 600 parts, about 20 times more components. the balancing act between _ more components. the balancing act between the _ more components. the balancing act between the west _ more components. the balancing act between the west east - more components. the balancing act between the west east is - act between the west east is reminiscent of a scene that out across parks in taipei every morning. the ancient chinese art of tai chi which helps maintain flexibility and balance, because between the us and china, foxcon has had to learn to be fluid and nimble to survive. you can catch the full interview on the bbc this weekend, the times are on your
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screen. it is pride month and we're looking at how businesses have incorporated lgbt cue recognition in their marketing campaigns. while it has been a lucrative move for some companies, others have seen their sales plummet after boycotts from conservative consumers. ispoke boycotts from conservative consumers. i spoke to a member from the university of pittsburgh and she explained what companies consider when it comes to their support. the considerations _ comes to their support. the considerations that - comes to their support. tte: considerations that brands go through is starting with their purpose, the identifying of causes that seem to align well with their purpose, and also causes that play well with their target audience and often brands like to be seen as supportive of causes that their customers care about, and so thatis customers care about, and so that is one big primary consideration in choosing to support efforts, whether it is lgbt cue rights, gender equity, and so on and so forth. bud
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liuht and so on and so forth. bud light came _ and so on and so forth. bud light came out _ and so on and so forth. bud light came out without reports and this is about the same time they partnered with a transit influencer, but was that a success?— success? bud light is an interesting _ success? bud light is an interesting case - success? bud light is an interesting case study. l success? bud light is an l interesting case study. on success? bud light is an - interesting case study. on one hand there seem to want to appeal to a particular target audience which is younger consumers and that was sort of the strategic rationale as to why they went forward with this campaign, but one of the missteps that they made in their campaign is that as soon as they saw that there was a backlash to a significant portion of their current customer franchise, portion of their current customerfranchise, they immediately pulled back and some of their efforts, and this comes across as sort of inauthentic and somewhat contradictory, and when that happens, customers on both sides get upset and that's kind of what bud light faced in this
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situation because their current customers seem to be upset with their stance, and they did not attract new customers that notice as soon as they struggled, the brand went through some of its efforts. pride month is normally seen as a safe space for brands that normally show support. but does this hold true as the risks increase?— this hold true as the risks increase? , , ., ., increase? this is an important question- _ increase? this is an important question- on _ increase? this is an important question. on the _ increase? this is an important question. on the one - increase? this is an important question. on the one hand - question. on the one hand brands have to stay true to their purpose, and if a particular cause aligns well with their purpose and they are willing to stand their ground evenif willing to stand their ground even if there is a boycott, then i think they should proceed and issued fact reassure the customers that they are not going to let some social media furore make them pull back on some of their efforts, so that's really critically important, and customers want that reassurance, especially during a crisis. . v . . a crisis. that's all we have for you — a crisis. that's all we have for you on _ a crisis. that's all we have for you on this _ a crisis. that's all we have for you on this edition - a crisis. that's all we have for you on this edition of l a crisis. that's all we have i for you on this edition of asia business report. you can always follow the day's news by visiting our website. thanks
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for watching. from the outside, this car looks pretty standard, much like some of something you might see on the road but it is no ordinary car. take a closer look inside, there is no driver. or is there? don't worry, it's all legitimate, it's actually part of a study at the university of nottingham into how autonomous cars could work on the road. tt’s into how autonomous cars could work on the road.— work on the road. it's been really good _ work on the road. it's been really good financially, - work on the road. it's been really good financially, this has been great. fit, really good financially, this has been great.— really good financially, this has been great. a ghost driver is bein: has been great. a ghost driver is being used _ has been great. a ghost driver is being used because - has been great. a ghost driver is being used because current| is being used because current legislation means you can't have a car without someone in the driving seat, so the team have replicated what would be a computer driving a car. it's
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really interesting, watching people's responses from outside the vehicle as they see as seemingly driverless car but once you get inside you can really see how this works. you have got david in the front, behind the seat, and then someone in the back manipulating the visible display on the outside of the car which shows when the vehicle is giving way for example. vehicle is giving way for example-— vehicle is giving way for examle. , , example. the trust was very hi . h, example. the trust was very high. you — example. the trust was very high, you could _ example. the trust was very high, you could see - example. the trust was very high, you could see the - example. the trust was very i high, you could see the survey results, people's behaviours, people don't wait for the vehicle and crossed behind it, they crossed behind it. when you have a display in front of the car, people are much more confident to walk out in front of it, because the intent is clear. �* clear. i'm rachelwith the catch up- _ clear. i'm rachelwith the catch up. denied, - clear. i'm rachelwith the| catch up. denied, delayed clear. i'm rachel with the - catch up. denied, delayed union uni results? and a kangaroo
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fight. first, the latest on borisjohnson and lockdown parties in downing street. when we first heard about them boris johnson who was prime minister at the time said no rules were broken. tt at the time said no rules were broken. ., , , broken. it never happened in the guidance _ broken. it never happened in the guidance was _ broken. it never happened in the guidance was followed i broken. it never happened in i the guidance was followed and the guidance was followed and the rules were followed at all times. later returned out that was not true. i take full responsibility for everything that took place on my watch. mt?! that took place on my watch. mp is lookin: that took place on my watch. mp is looking into whether boris johnson knew he was not telling the truth have released a report saying he knowingly misled parliament, the first time a prime minister has been charged with something like this. some other stories now. it has been six months since the crash at brixton academy which killed rebecca and gabby hutchinson. the families are still waiting for answers about what happened and want anyone with footage to share it with the police. so many students are finding out they won't find out what happened this summer
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as part of a marking walkout. real madrid will lead a new antiracism committee run by players. the brazilforward was racially abused during a game last month. last up, ten seconds of a very weird scrap. this woman was not enjoying this kangaroo hopping after her in australia and i'm not surprised though, it seems like it was looking for a fight, look at those moves. you are all caught up now, see you.
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hello, i'm gavin ramjaun, hello, i'm gavin ramjaun, from the bbc sport centre. from the bbc sport centre. coming up on the programme — "the proudest day of my life" — jude bellingham says he's thrilled to sign for real madrid. it's the greatest football club in the history of the game, and not many players get the opportunity to play at such a brilliant club, at such a historic club, so, yeah, i feel really grateful. a confident captain, on the eve of the ashes — stokes says he's good to go with the ball against australia, ahead of the series start in birmingham. and into the record books — rickie fowler and xander schauffele claim their bit of us open history,
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on the opening day.

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