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tv   Asia Business Report  BBC News  July 3, 2023 2:30am-2:45am BST

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"the relationship and work together to address global "challenges." ms yellen will be in beijing from the 6—9july, and this is the second trip by a cabinet official to china this year. tensions between the economies have taken a beating in recent years over issues like covid and trade. meanwhile, japan's indicate is ticking upwards this morning. let's show you how they are doing, up by almost 1.5% and thatis doing, up by almost 1.5% and that is after a survey found japanese manufacturers have been feeling more optimistic in it the most recent quarter. it basically suggests japan's economy is on track for a steady recovery but also the week ian has also been helping those export shares as well so investors are cheering all of that while keeping an eye on course on the currency which cost a key 145 to the dollar level last week.
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and over in china their indicator on manufacturing is also due out today. it covers small and medium—sized companies which should give us insight into how china's public sector is doing. ——private sector. on tuesday australia's central bank will be meeting and investors will be watching to see if authorities will hold steady or hike the cost of borrowing because of inflation concerns. earlier, i spoke to peter maguire of xm.com and he said he expected to see movement from tokyo on the japanese yen. i think there would not be surprise. they have done it in the last matter of six or eight months as far as intervention when it approaches the 145—150 sort of handle, so, yes, we won't be surprised to see intervention sometime injuly. where you are, australia's central bank will be meeting this week as well. it is kind of a tricky balancing act for them, isn't it, dealing with inflation, whether or not to raise interest rates? what are you expecting? well, exactly right. i mean, you know, we've got about a 37% probability of a number
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25—basis—point hike. analysts have been proved wrong the last two months, so are we going to see a trifecta and they will be proven wrong again and the rba goes against consensus? so, yeah, jury is out at the moment. i want to ask you about china's economy as well because we have been getting quite a lot of weak economic data about the second biggest economy of the world, which of course is a crucial trading partner for australia. how concerned are you? we are very concerned as far as the health and naturally the internal demand from china. we have got exports going at record levels in the sense of iron ore production, and strong demand from china in that regard, but the overall weakness across the global economy is weakness that is internalised in china, and that, we have felt that in australia with a weak dollar. i guess for the us it is a very different problem where we are going to getjobs data and the economy has been showing quite a lot of resilience despite some predicting that a recession might be around the corner.
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what are you expecting in terms of the jobs data and what impact would that have on a rates decision by the fed? well, we have got around a 200,000 employment read this friday. this is what analysts are coming outwith. we had 339,000 billed in may, so it will be dropped off a little bit, but overall strong numbers from an employment sector, and as far as rates are concerned, we will not be surprised to see fed chair powell ratchet them up again, so i think we are up for another tightening for the us and across the world. how soon could the right hike come? could it come actually this summer? i won't be surprised. again, thejury is out but i think overall sentiment is, yes, you will see it in the northern hemisphere summerfor the fed, and it could even be this month. let's wait and see. tesla has beaten analyst expectations for the second
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quarter of this year. the company managed to deliverjust over 466,000 cars. that is a jump over 466,000 cars. that is a jump of 80% from the same period last year. that means tesla has produced over 900,000 cars this year which is well on its way to its goal of 1.8 million for 2023. but stay with electric vehicles because they have been touted as reducing reliance on fossil fuels but according to one report from university of technology sydney switching could cause more issues for the environment. elsa dominish is an author of that report and she explained why. evs are an important part of decarbonising our transport system, and they are definitely a better alternative combustion vehicles we have now, so they will be important, but we know they are increasing demand for a lot of minerals, what we call transition minerals, so this includes lithium, cobalt, copper, graphite, nickeland rare
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earths, and we know that there is new mining happening across the globe which is leading to some human rights impacts and also environmental harm. ev production has been ramped up quite significantly. is it too late when it comes to that impact, what you said about mining? it is not too late. ev production will continue for the next decade and onwards, so it is important that we think about how we can be mining more responsibly to ensure that we are protecting biodiversity, we are respecting indigenous rights. aside from responsible mining, what is a better solution if not evs? well, i guess the key thing we can do to decarbonise the transport system as quickly and responsibly is reduce our reliance on cars. we can do that through improving public transport, making it more convenient and safer, and just by designing our cities
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to be easier to get around without driving so we don't need to drive as often. in australia where you are or, say, in america, it would be quite difficult to convince people not to have their own cars? wouldn't that be quite a challenging task? of course, it is a huge challenge, but at the same time, switching every car on the road to an ev is a huge challenge, and we need to ramp up investment now to think a bit more ambitiously about how we change our transport system. the book retailor whsmith is a familiar sight at airports in the uk but you might see them more in the united states as well. the boss of whsmith told the bbc he is focused on expansion in america and europe. we opened our first store at euston station in london back at the beginning of the 19th century so we have had stores in travel for 180 years. one of the first ever airport stores was heathrow, and we had a store at heathrow airport back 85 years ago.
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we have always sold products that people need for their travel journey. increasingly, we have branched out into selling all of the travel essentials that people need for their journey, so, tech accessories. products that make your hardware work. health and beauty, pain relief, as well as food to go — all of those products. about four years ago we acquired a business in the us called in motion which sells attacking salaries ——tech accessories and a year after that we acquired another business in the us called mrg and they have a variety of brands so in america we have got lots and lots of different retail brands and the difference with our american businesses, we almost do bespoke retail for airports. so, we sit down with an airport and we talk to them about the sort of brands that they want and the sort of product categories that they want and then we design specific brands for them.
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so, in the us we have probably got the best part of 30, 35 different facets of stores. in the uk, and europe, it is mostly about whsmith and in motion, albeit we do have a few extra souvenir brands that we put in place as well. it seems like a lot of your focus is on north america. is it going to be all acquisitions that you are considering or would you expand the wh store? in the first half of this year we opened 30 shops in north america, or opened another 30 shops in the second half of this year. we have got a pipeline of 60 stores to open and we are constantly winning tenders in airports. there is lots and lots of tenders that come up in airports where they will go out to the markets and ask for different retailers to come up with propositions. so, recently we have just taken
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stores at newark airport. we have opened at salt lake city. we have opened in kansas. we do have whsmith stores in america. we have got actually a store thatis we have got actually a store that is a just walk out store in partnership with amazon at laguardia airport. we have a whsmith store in a new arc but mostly the way that we think about growing our business in north america is working with the airports and coming up with a proposition that is sort of tailor to that local city, both in terms of the product offering and the brand and that is how we see ourselves expanding in the us and we have got about 12% of the retail market in airports now, and our ambition is to get to 20% over the course of the next four years and that will mean probably only the best part of 150 stores. probably only the best part of 150 stom— 150 stores. that is it for the programme- _ 150 stores. that is it for the programme. we _ 150 stores. that is it for the
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programme. we will- 150 stores. that is it for the programme. we will be - 150 stores. that is it for the | programme. we will be back bright and early tomorrow morning so dojoin us if you can but thank you so much for watching the programme. bbc news, bringing different stories from the uk. i actually thought at the time that i must be dying or something because i could not breathe. i had lights in my eyes. i thought i was going to pass out. i just went to a random doctor and i said i needed some help. i did not know what was going on. andrew had no idea he was suffering from anxiety and panic attacks while running his construction company. i'd ignored it for so long and i ignored it for about a year because i did not think that i needed any help. the gp dealt with the physical symptoms but andrew was able to talk when he met kerry from the charity mind who he is now working with to encourage his staff to be more open about their mental health. gareth has worked in the construction industry
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for decades and says that is what he calls a lad's culture where men do not feel comfortable talking about mental health. we want to build a building, get ourjob done, we work in the rain, in the snow and we just suck it up. there is a stigma in the industry that admitting mental health problems might affect theirjob. momentum is building towards a change in an industry that many feel has been quiet on a mental health for too long. for more stories from across the uk, head to the bbc news website.
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bring you different stories from across the uk. in amongst these professional musicians from the orchestra of opera north are students from the royal northern college of music here in manchester. it's a spectacularform of learning on thejob. the college became the royal northern college of music in 1973. it was founded by sir charles halley 80 years earlier. today, 900 students study each year from 60 countries studying in schools dedicated to disciplines like strings, percussion, popular music. musical history is important here, too. back to the modern day, though, and playing with 0pera north will be lizzie, who wants to work as a music therapist with young people, and marcus, who is from brazil.
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really exciting opportunity for us all to be able to perform alongside industry professionals. when i told people i'm moving to the uk and everyone will be like, "oh, are you going to, london?" then i was like, "no, no, i'm going to manchester." we've got some - incredible orchestras — the bbc phil, the - manchester camerata, of course the halley. we've also got things - like the manchester collective as well. it's a really buzzing as well. classical scene. - the royal college's 50th anniversary celebrations culminate with a collaboration with manchester international festival on 8 july. v0|ceover: for more stories from across the uk, head to the bbc news website. head to the bbc news website. hello there. hello there. i'm 0llie foster. i'm 0llie foster. here's what's coming up for you on sportsday. there's another stunning innings from stokes, but it's not enough to save the second test for england as australia take a 2—0 lead in the ashes.
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but did they win within the spirit of the game? jonny bairstow�*s dismissal led to australian players being verbally abused. three members at lord's have been suspended. it's now five formula one wins in a row as verstappen stretches his lead in the drivers standings and on the eve of wimbledon last year's runner up, nick kyrgios, he's pulled out with a wrist injury. hello there. welcome along. well, where do we start? in cricket, australia have gone 2—0 up in the ashes series after a highly charged and dramatic final day in the second test. ben stokes' magnificent century was in vain as australia won by 43 runs they had resumed. by 43 runs they had resumed.
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needing another 257 runs, needing another 257 runs, england with six wickets england with six wickets in hand.

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