tv Asia Business Report BBC News July 17, 2023 2:30am-2:45am BST
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the cptpp, becoming it's only remember out of region. the partnership also includes australia, new zealand, canada, chile, japan and malaysia and will add about $2 billion to the economy. an annual increase of gdp of 0.08%. despite that, the business and trade minister kemi badenoch described it as an important step for britain. we are honoured to become the cptpp's first new member and to join this extraordinary community of now 12 economies spanning asia, the pacific and now europe. this is a modern and ambitious agreement and our membership of this exciting, growing forward—looking block is proof uk's doors are open for business. let's turn to china because the world's second biggest economy is due to report its latest growth figures in just about an hour.
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for the second quarter, we will also get the reading injune, reading for unemployment as well as retail sales and all eyes are on the yet to be seen post pandemic rebound. earlier, i spoke to the chief asia—pacific economist. she told me the headline growth figures due to be released later today needs to be put into context. i think the headline gdp growth number could be a little bit misleading because, for the second quarter, year on year growth could be around 7%, which is much higher than the 4.5% you just mentioned. this is all because of a low base last year. we all remember the shanghai lockdown last april and may. from a sequential growth momentum, we actually see the economic growth has slowed quite notably in the second quarter as the pent up demand is fading. domestic demand is still weak, confidence is low and yet
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the government, it is somewhat reluctant to come up with any meaningful policy stimulus. in terms of unemployment, what do you expect? overall, the labour market is slowly improving. the overall headline unemployment rate should continue to decline. a lot of the focus is on the use of employment which is over 20% and could go even higher in the coming months because we have nearly 10 million college graduates coming to the labour market. i think that is one of the key concerns at this moment. we're starting to hear from foreign investment companies and banks, their nerves have been shaken a bit by all of the news coming out of china. are they still seeing this as a good place to do business? at this moment, when we talk
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about the confidence is a bit low, the corporate sector, sentiment is low because of the policy uncertainty in the last several years. also part of that is the reluctance of the government to support the economy at this moment which is really posing a risk to the economic growth this year. from a long—term perspective, i think it really depends on what the government is trying to do to reduce the policy uncertainty. on that front, i think the government actually is stepping out, recently relaxing deregulation in the housing sectors, the platform economy sector and welcome foreign company investment as well as private investment. hopefully that could actually bring back some of the confidence which would support the economy, notjust in the near term but also in the long—term. some of the data we saw on friday in terms of its
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export numbers, they fell at their fastest pace since the onset of covid. with the slowdown of the global economy, what can china do to boost it? i think for the very near term, that is what i said, the key risk is what the government can come up to do to support the economy. everybody is waiting for the meeting by the end of this month, there could be a comprehensive policy system measured. they could cut interest rates more, liquidy credit support, more spending on infrastructure, more measures to support consumption and more regulatory easing the housing sector. some of that actually could support the economy and healthy growth momentum to stabilise in the second half. the technology giant microsoft to sign an agreement to keep the hugely popular game
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franchise call of duty on sony's playstation console. microsoft is in the process of trying to try to buy the game publisher activision blizzard. the deal is worth nearly $70 billion but face opposition from regulators in the united states and britain. they argue it could harm competition. a spokesperson for microsoft said the call of duty agreement would ensure players had more choice once the takeover was complete. the automotive world is changing and changing rapidly. nowhere was that seem more visible than at the goodwood festival of speed in southern england. the ford motor company was among those who used the event to showcase their electric offerings. the american giant recently turned its own electric car operation into a standalone division, separate from known as model e. darren palma is the vice president for electric operations and he spoke to a reporter. in order to move as fast as we believe it will be necessary, we wanted to split
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the company into three. electric, gas and hybrid and pro for commercial vehicles. also like a start—up. you are still part of a major global car company. how can you compare yourself to a start—up? the attitude, style and way we work. we also have a lot more people who came from a software background, pure software background. we are integrating those together. think of it like using the tools and facilities and resources of a huge global company but being able to take decisions and move more quickly. that is what model e is about. this is an increasingly competitive market now, you seem to be a few years behind the opposition in europe. lots of electric cars coming from china now. how are you going to stand out? the technology to make the car at the price we wanted was not available at the time before
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then, at the volume we wanted. the electric f—150, technology to make that the price point was not available before. we think now is the right time. still early on in the market adoption for electric cars but we think now is the right time but do need to make them distinctive. we want to tempt more and more people to go electric. we want it to be because they want the vehicle, not because they are being forced to. i think it is on course to lose something like $3 billion this year. at what point do you turned around and actually start making money from this? typical for a start—up, you lose money before you make money and we wanted to put a magnifying glass on that. the division stands alone. we look for that exactly. you make money when you build scale and have supply chain in place and you can make compelling products people want to buy at the right price versus the cost for that is how you make money.
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the month—long fifa women's world cup kicks off this thursday. teams from across europe, the americas and asia will gather in oceana. fifa is giving away 20,000 tickets due to slow sales in new zealand. our business correspondent sent this report. it is here in eden park the world cup will kick off this thursday when new zealand's football ferns take on norway. it is one of four stadiums across the country where games are being held, we also see matches in hamilton, eden and wellington. despite how big this event is and the fact that eden park invested about 21 million us dollars upgrading its facilities ahead of the cup, ticket sales have been lacklustre. the organisers fifa had to give out 20,000 tickets just to try and fill stadiums. few games are sold out. those that are all involved new zealand. what is behind this lack of demand?
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the reality is it has been challenging across all of new zealand. there is a cost of living crisi in new zealand and that corresponds with habits and decisions being made. awareness had to be built over time and i am sure throughout the tournament, like we saw with the women's rugby world cup and cricket world cup, the rugby tournament interest and ticket sales increase. where are the troubles when it comes to ticket sales far it is for european and north american fans to travel. the other aspect is here we are firmly in rugby union territory. new zealand is not typically a soccer loving nation. as a result, we had calls from the former prime ministerjacinda ardern telling social media followers tojump online and join in. despite all of these troubles when it comes to filling the stadiums, this world cup is expected to be the largest attended womens sporting event of all time. twitter must offer half with
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advertising revenue since been bought for $40 billion in october. elon musk said it had 0ctober. elon musk said it had not seen the prison and brevity is expected injune. and that is it for this edition of asia business report. i'm monica miller, thank you for watching. it is my wedding day, i am getting married. i served in afghanistan, unfortunately, i lost my left leg and received a gunshot on the right side of my body. the training for this started roughly 18 months ago, most of that has been accuracy landings. this car is a big place, a lot of room in the sky. what is crucially important is you get the landing correct, everybody is safe.
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all of them, including chris, have landed safely. i skydived into my wedding at langley castle on a beautiful sunday morning. they hope they have a new world record for the largest wedding party made up of groom and groomsmen to skydive into a wedding venue. after that, it is time to get married. the most stressful part of the day so far. i am calm, cool and collected. jumping out of the plane was infinitely more stressful than this. i have been ready for this for a long time. what do you think about him doing this? he is allowed to have a fancy thing in the day, i get the fancy dress and he gets the fancy skydive, i love it. i used to skydive and i'm happy that he is happy doing and as long as long as they are safe, they can it whenever. more stores across the uk, head to the bbc news - website.
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i will be fair. we just want to hear what you have to say. shall we get on with it? here we go. join me to hearfrom the biggest names inside and outside politics.— biggest names inside and outside politics. sunday with warwick and _ outside politics. sunday with warwick and spoke. - outside politics. sunday with warwick and spoke. watch i outside politics. sunday with | warwick and spoke. watch on outside politics. sunday with - warwick and spoke. watch on bbc iplayer. bringing you different stories from across the uk. jamie reeves is showing me a video that no parent should ever have to film. it is of his 8—month—old daughter, halle, on an emergency medical flight from spain, where the family had been on holiday, back to birmingham where doctors then diagnosed her with a rare form of leukaemia. since lastjuly, it has been hell. i don't think there has been a week that has passed where we have not been in hospital. i think the most we've done is about three or four days. halle has had two stem cell transplants — the most recent one in april — neither has worked. her medical team says
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they are not prepared to do a third transplant. in all honesty, i thought, last week, when we were not seeing any of her counts come up, i was getting really worried. i started to think in my mind, maybe that could be it. her family has been told their best option might be to pay for a highly specialised treatment called car—t cell therapy in america, as it is not currently as it is not currently available on the nhs, but the treatment is expensive available on the nhs, and the family is now on a mission on a mission to raise £1 million. to raise £1 million. the clock is ticking, the clock is ticking, time is not on our side time is not on our side so the sooner we can get so the sooner we can get over there, the better. over there, the better. for more stories for more stories from across the uk, from across the uk, head to the bbc news website. head to the bbc news website. hello and welcome to sportsday. i'm lizzie grenwood hughes. i'm lizzie grenwood hughes. the headlines tonight: the headlines tonight: a new king at wimbledon, a new king at wimbledon,
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as carlos alcaraz ends years as carlos alcaraz ends years of djokovic domination. of djokovic domination. the washes with australia, the washes with australia, as england just lose the penultimate game. as england just lose and rory rises to the top, just in time for this week's championships was about open championship. open championship. so lots of brilliant sport for you, and we're of course starting with tennis because carlos alcaraz is the new men's wimbledon singles champion. the young spaniard fought back from the set down against the seven—time winner novak djokovic to win in five sets. it's alcaraz�*s first wimbledon title and it ends years of djokovic dominance on centre court. here's our reporter, chetan pathak, who's been following the action
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