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tv   Asia Business Report  BBC News  July 28, 2023 2:30am-2:46am BST

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taking a toll. hello and welcome to asia business report. i'm mariko oi. the big week for us economic news continues, as the us federal reserve�*s preferred measure of inflation will be released later today. this and more evidence of slowing inflation would boost hopes that the world's biggest economy could be headed for a soft landing. this is as the latest data showed the american economy growing 2.4% in q2, topping expecations. michelle fleury with more. personal consumer expenditures measures how people spend their money. the inflation update is one of the pieces of data watched closely by america's central bank. when federal reserve officials raised rates by a quarter of a percentage point this week by more than two—decade high, they said they would be
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watching and monitoring incoming economic reports to decide whether another rate hike was warranted or if they were done. hot on that meeting's heels, data released on thursday showed the us economy grew at a 2.4% annual rate between april and june. the strong data boosted hopes that central bank policymakers would pull off what economists refer to as an immaculate tightening. in other words, that while the fed may have been raising rates more quickly than ever in american history, it will end up having done so without putting the economy into a recession. later today, british banking giant natwest is due to deliver its latest earnings. the bank battles a scandal. this is following a row over the closure of the account of nigel farage. mr farage claims his account was closed because of his political views. peter flavel — head
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of natwest�*s private banking arm coutts — is the latest to quit the firm, following in the footsteps of its former chief executive, dame alison rose. the bbc�*s chief economics correspondent dharshini david. peter flavel is the man who has been in charge of coutts for the last seven years or so and he's accepted full responsibility. and he has now gone. natwest is hoping to draw a line under things with results coming out in the morning and we should say that while this is a crisis, this is a reputational one, not a financial one. analysts describe natwest�*s finances as being reassuringly dull, benefitting from interest rates and getting fully back on track from the financial crisis. what isn't dull however is this row. can the chairman stay and what does this mean for banks relating to their customers and their services? meanwhile, oil and gas prices fell sharply this year, and that's weighing on energy companies, like oil giant shell which posted a 56% slump in profits for the second quarter, missing forecasts.
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energy giant exxonmobil is due to report their latest earnings later today. tim waterer is the chief market analyst at kcm trade and gave us his outlook for crude prices for the rest of the year. global energy prices is an important point at the moment. we saw that in 02, they were quite depressed, and that was basically as a result of a lot of economicjitters. there were fears at that point in time that a hard recession in the us and the regional banking crisis. and concerns with what would happen with the chinese recovery. but in the past couple of weeks we've seen a move higher in energy profits, most notably in crude oil. and that's on the back of hopes we will start to see a lower interest rate environment in 2024 and some hope of chinese stimulus. and that's what's in the brent crude price recover from trading around $75 where it was in most of q2, whereas now it is trading above the $80 mark.
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so i think there is some positive signs for the energy markets at the moment on hope we will see increased demand in the rest of the year. well, over in the uk, british gas has reported its highest ever half—year profits after price caps allowed it to make more money from household bills. it also comes at a time where millions of households have been struggling to keep up with payments. our cost of living correspondent colletta smith reports. british gas, scottishpower, and edf are energy giants, supplying energy to half the homes in britain. over the last six months they've made hundred of millions of pounds between the two of them. they are just taking from all of us and giving it to their mates and shareholders. it grates for customers who are having to cut back. we're both teachers at the end of the day. we're supposed to be all right, now we really have to do watch what we are spending. jamie lee and hannah are both with scottishpower. it'sjust awful. there were people generally struggling and they don't
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have a conscience, do they? you don't have a choice, - do you, there's only so many providers, if you want gas and electric- you have to pay it. with so little choice available, kaylee doesn't feel like she's got an option to change supplier. to hear they are making profit as well when they put all the energy bills up, it's not great, is it? the energy regulators say this profits are a one off blip and it's reasonable that they've allowed suppliers to charge more to try and take back some of that money which they say they lost during covid and the war in ukraine. but for customers, it feels different. it makes my blood boil. we are being failed by the government and by profits of companies like british gas. but the prime minister says the government have been helping. that's why i took a decision when i was chancellor to introduce a windfall tax on the energy companies so we are now taxing these windfall profits of energy companies. and we are using that money to help us pay around half of a typical family's energy bill
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particularly over the last winter. as these profits were being made, since january, hazel has given out £7,500 in energy top—ups to people in need. it's heartbreaking, it's heart . breaking to think how the bills have gone up. if they had not have gone up, people wouldn't have been i struggling so much. big energy companies don't give a lot of thought to this and give back to people in need. customers and campaigners all feeling that money is flowing in the wrong direction. coletta smith, bbc news. a bbc investigation has found that google�*s earthquake warning system failed to reach many turkish residents before february's deadly tremor. james clayton in san francisco and anna foster in turkey. it was one of the most deadly
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earthquakes in modern times. february's quake happened in the middle of the night. many people died where they were sleeping in their beds. 50,000 people were killed. however, there was an earthquake warning system run by google in turkey, and the company claims millions of people got a warning before this earthquake. it works on any android phone, that's about 80% of all of the phones in turkey. and this is google�*s explainer on how it works. these phones have these tiny accelerometers built into them that senses earthquakes. people will be able to have their phones be part of this network of mini seismometers, the android earthquake alert system. so you'll hear it go, it looks like this, it says drop, cover, and hold. this is the product manager for the system at google. it's pretty loud. the further you are from the earthquake, the more notice the system can give you, up to around a minute. enough time to try and
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find a safer location. so our system did activate for both the major events in turkey as well as some aftershocks. but the bbc has found no evidence that this warning was widely received before turkey's first and biggest quake. we went to three cities in turkey. we asked hundreds of people. not one person we talked to said they got the warning. so it looks like this and it makes this sound... chiming no. no. no. this person lost 25 members of herfamily including her sister and nephews. so you didn't receive any alert, nothing on your phone? i put our
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findings to google. how sure are you that firstly it did fire, and secondly, that it got to people during this earthquake? as sure as we can be that the system activated and we did send alerts. have you spoken anyone who got an alert? i have not, no. has google spoken to anyone? i don't know. harold tobin is professor of earth sciences and director of pacific northwest's seismic network. they are at the of what's possible. if you are delivering an essential life saving, public safety piece of information, you have a responsibility to be transparent about how it works and how well it works. and yet google has not published evidence that the system worked. the system that could have saved lives. james clayton reporting. and before we go, the bank ofjapan is set to unveil its latest monetary decision later today.
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in one houror in one hour or so. the expectation is that the central bank will keep its ultra—low interest rates but may make tweaks to its yield control policy. that sounds very technical, doesn't it? it is. it's closely watched by traders because the bank of japan leanne is jumping against leanne isjumping against all other major currencies. a lot of exporter shares are down because of that strain on the japanese yen. that's it for this edition of asia business report. thank you so much for watching. have a lovely weekend. bastion a nd mason are both autistic. there is a process of adhd
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for bastion as well. mason has the development delay. both are still in nappies. for eight years emma has been campaigning for getting more changing places and toilets built because poor facilities has often meant leaving home could be a problem. it shortened our days out so we would go out and if one of the children made a mess would have to come home straightaway. when she started her campaign in norfolk there were just four changing places. how many are in norfolk now? 24. more are coming. there should be 31 in the next couple of years. but still not enough, there will never be enough until people can go out and not have to think about going somewhere because of the changing places. the issue of facilities for people with disabilities is a big one. now a report has highlighted the spending power of disabled people — £300 million a year, just in suffolk. what we are calling for is for suffolk to become an exemplar destination for accessibility and inclusion and to do that we have got to move things on.
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for more stories from across the uk, head to the bbc news website. hey, i'm zoff with the catch up. tonight a change to takeaway pints, the mercury prize awards and terrifying sea lions. it might be raining in the uk but july is set to be the world's hottest month ever recorded. heat waves in europe and the us as well as the hottest day ever globally earlier this month have sparked fresh warnings about climate change. the head of the un says the era of global warming is over and global boiling has begun. scientists say that for the uk hot summers like last year where it reached a0 degrees will actually be thought of as cool by the end of the century.
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some other stories for you. you might see them around quite a bit, electronic bikes and scooters, a charity says the batteries should be regulated like fireworks or heavy machinery because of their fire risk. the london fire brigade says it's been called to an e—bike or e—scooter fire every two days this year. last orders for takeaway pints in some pubs as covid rules expire. these made it easier for pubs in england to sell takeaway drinks, but this will end in september. if they want to continue they'll have to apply to their local council. let's talk mercury prize awards. this celebrates the best british and irish albums of the year. arctic monkeys, jessie ware and fred again are leading the shortlist. the full ceremony will be in september. time for ten seconds of sea lion chaos. this is the moment sea lions were charging at people to chase them away on a beach in san diego. trust me, i'd have legged out of the quick time. that is my worst nightmare.
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you are all caught up now. see you later. hello and welcome to sportsday. i'm marc edwards. here's what's coming up on our programme. australia agony, nigeria ecstasy. big shock at the world cup with the co—hosts
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facing early elimination. better news on the cricket, though — ashes advantage for australia, who edge the first day of the final test. a new runner in the race to sign rasmus. paris st germain hunting hojlund, submitting a take it or leave it bid for the atalanta star striker. hello and thanks for joining us on our show. we begin at the women's world cup, where the first major shock of the tournament has occurred. co—hosts australia, ranked 10th in the world, were considered competition dark horses, but now might not even get out of the group. that's after they were beaten by nigeria, a team ranked 30 places below them. adam cottier ranks up the action, on a day
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to remember for african football.

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