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tv   Asia Business Report  BBC News  September 19, 2023 2:30am-2:46am BST

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hello and welcome to asia business report. our focus begins ourfocus begins in the us, where it is day four of the auto workers strike that is affecting some of america's largest car workers. negotiations between the united auto workers and the detroit three automakers are ongoing. nearly 13,000 workers have joined the industrial action. on monday, the uaw held talks with stellantis, although no deal could be arrived with but it had scheduled a new round of talks with ford for later in the day. so what is really at stake, not just for the sector but also for the us economy? to the asia editor of automotive news and he told me what is at stake for the sector as well as for the us economy. well, i mean it is a very dicey situation for the united states, that is a huge sector of the economy that is at play here. there is no real common ground yet found between the labour and the management.
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the labour is asking for a wage increase of about 36%. the management has offered about 20%. so there is a big gap between the two sides. the labour unions have thrown out some almost fantastical wants such as a return to a normal pension system and even four day work week. these are kind of real outliers there in the global industry that would take the unionised american workers into the kind of uncharted territory. if you bring in the asian perspective, what are the things that have been done differently here for you to make any comparisons? how do we draw those comparisons as a strike lays out? for background, what you are seeing in the united states is an unprecedented strike against all three american automakers at the same time.
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meanwhile, injapan, for example, you would rarely ever see a strike. i don't think in my time working here since the early 2000s have we ever seen a strike at any of the carmakers here. by contrast, you see more of a collegial or cooperative approach to the annual wage negotiations so that there is more give and take, and both the labour and management see their fate as intertwined, as opposed to confrontational. are there any lessons that can be learned and what are the aspects that are working well for instance by the japanese auto industry? for the japanese auto industry, i think they are facing some of the same pressures. what you saw this year for example was a reaction to spiralling inflation. there was high pressure on the automakers to give some of their biggest raises in decades. toyota gave its biggest raise in two decades to its workers. honda gave its biggest race in three decades to its workers. and those were requests put
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forward by the workers and accepted upfront by the management and there was no major conflict or confrontation about that. that said, honda, for example, accepted a 5% increase or what is believed to be about a 5% increase in pay and that contrasts with what the uaw is asking for in the united states, which is about 36%. so you can see how the expectations are a bit more modest in japan. and there are signs that the labour disputes between auto industry workers and carmakers are spreading beyond the us borders. in a few hours, ford motors could face another strike and this time in canada. that is when a contract between ford and a union around 5,600 canadian auto workers is likely to expired. unifor has warned that the increasing likelihood of a strike — among other demands is better pay and an improved pension system. staying with the auto
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industry, let's focus on electric vehicles. while china may dominate the headlines when it comes to evs, there is another country trying to take the lead, and that is indonesia. one of the south—east asian nation's most powerful family conglomerates with big interest in mining, oil and gas is now looking to get in on the act by electrifying jakarta's public bus system. asia business correspondent picked up at the chief executive of buckley and brothers on a recent visit to singapore. jakarta alone has about 10,000 buses, which is quite a large number, especially compared to a lot of other cities in the world, including for example london. but for us, to start with, the first batch of buses about 52 of them, it has already made a significant impact, but we want to go from 52 buses
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to later on, 10,000 buses. and jakarta is very committed to making it happen by 2035 so we were very much supportive. not only do we want to provide these buses but we want to make these buses in indonesia. what makes indonesia such an attractive place then to make electric vehicles? so we like to say that below the ground we have the critical minerals, whether that is nickel, cobalt, copper, zinc, bauxite. but above the ground we have this renewable energy grid. about 500 kilowatts of that. it can be anything from duothermal, also tidal, solar, wind, hydro. all of them can come into play to process the critical minerals. so you can imagine you have a product that is for electrification but being processed in a way that is green power. i think it will be quite exciting. how will you sell this
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to ordinary indonesians because they might see this as western companies pouring lots of money in and big indonesian bosses making lots of money out of it. how will it benefit the ordinary indonesian? if indonesia wants to grow from 4000 per n 25,000 in a little less than 25 years that the only thing is industrialisation. but these days industrialisation alone is not enough. you have to do green revolution. you will only have more people in indonesia and about half of them are millennials and they are really concerned about sustainability, especially not only from protecting the environment, which comes to their livelihood being in the global south. archipelago, high temperature, high humidity, but also because they actually believe that this is the way to go for indonesia. so the head of the international monetary fund
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has promised that the imf will stay in its lane after claims by the us treasury that it should rein in its ambition is to try to tackle an ever widening range of global challenges. speaking to the bbc, she said that promoting the global financial stability would always be its core mission but that climate change was becoming a big factor in trying to deliver that mission. repetitive climate shocks cannot exclude how countries integrate climate policies and their fiscal policy, in their monetary policy, in the financial policy. this is our lane and i give you my word we would not step out of it. how we help countries in fiscal policy to encourage faster decarbonisation, eliminate harmful substances, put the price on carbon, if you could. and how we help countries identify climate related
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financial stability risks and help their financial system to be strong against these risks. how do they build buffers? what should the insurance sector look like? these are topics straight in the mandate of the imf and i want to say to you, to everybody who listens, to us treasury, we only do what we are good at. there are other institutions — the world bank is fantastic — that can lead on sectorial issues, on the investment side, on climate finance. we do what we are good at. sound policies for prosperity, growth and employment. little change with us stocks when they closed on monday as investors looked ahead to the federal reserve decision that we have been looking ahead to. one exception was the major
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covid—19 vaccine manufacturers which saw their shares fall after the last projection for how many americans are looking to get a shot this year. 0ur north american business corresponded with the very latest from new york. gone are the days when americans could not wait to get a shot in their arms. 0nly around 24% of the us population, that is some 80 to million people, are expected to get a covid—19 shot this year. that is a projection from pfizer cfo david denton at a conference on monday. mr denton also noted that around 50% of eligible americans get a flu shot. that is nearly double his estimate for the covid vaccine. shows are vaccine makers fell in response to that forecast with pfizerjot down more than 5% of moderna down more than 80%. pfizer has said is it looking for ways to cut costs if demand keeps falling.
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the us is expeted to kick off its fall vaccine programme after the us food and drug administration announced updated vaccines from pfizer biotech and madonna. this is not the first time the public has been reluctant to get a covid booster shot. that is just about 70% of the population. that is stephan of this edition of asia business report. thank you for watching and do stay on for bbc news. this heavy machinery is working to protect the wildlife that lives and relies on this internationally important nature reserve, famous for its freshwater habitats. but now it is a race against time to stop it being flooded by the sea. it is the first bit of land they see, they want to come here, get a rest, feed, drink. storms
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moved the _ get a rest, feed, drink. storms moved the single _ get a rest, feed, drink. storms moved the single bank- get a rest, feed, drink. storms moved the single bank and - moved the single bank and blocked it, so now they plan to build a new train further inland. iii build a new train further inland. ., . inland. if we move the new cut income that — inland. if we move the new cut income that we _ inland. if we move the new cut income that we should - inland. if we move the new cut income that we should be - inland. if we move the new cut income that we should be able j income that we should be able to protect the habitat hopefully for the next hundred years. bernard bishop was the warden here for more than a0 years. i here for more than 40 years. i suppose you could say i am excited by it. never thought i would see this being done. the wildlife and _ would see this being done. the wildlife and habitat would be lost without the funding from the environment agency and donations.— the environment agency and donations. �* , . , donations. because we have this freshwater. _ donations. because we have this freshwater, brackish _ donations. because we have this freshwater, brackish and - donations. because we have this freshwater, brackish and sea - freshwater, brackish and sea lion marsh here, we want to keep it because it is the most diverse habitat we could have a longer stretch of coastline. for more stories from across the uk, head to the bbc news website.
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hello. my mls with the catch up. hello. my mls with the catch up- up, hello. my mls with the catch up. up, russell brand's live tour has been postponed after sexual assault accusations by four women. the documentary aired on channel four was part of an investigation between channel four, the times in the sunday times. russell brand denies all the allegations. the bbc has spoken to one of the women from the documentary, known as alice. alice claims russell brand assaulted her when she was 16 and still at school. this was our reaction to his denial.— to his denial. first of all, i think it's _ to his denial. first of all, i think it's insulting, - to his denial. first of all, i think it's insulting, and i to his denial. first of all, i | think it's insulting, and it's laughable that he would even imply that this is some kind of mainstream media conspiracy. since the weekend, more women have come forward about stories of things they claim russell brand did, and the met police say they have received a report of a sexual assault in soho,
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central london, 2003. if you have been affected by any of this, you can visit the bbc action line website for help and support. some other stories now. parts of england have experienced significant flooding in the last a8 hours. the coastal town of minehead was badly affected. its butlins holiday resort was forced to close. and at the rugby world cup, fiji beat australia for just the third time in their history. it was fiji's first ever rugby world cup win over the wallabies. time now to leave you with ten seconds of rescuing robots. delivery robots are used by the co—op supermarket in cambridge found their path blocked by firefighters tackling a building blaze. but the crew helped them on their way. you are all caught up. goodbye for now.
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hello and welcome to sportsday. i'm betty glover. promoted burnley get their first premier league point of the season by drawing with nottingham forest. newcastle's two—decade—long wait is nearly over. we look ahead to this week's return of the champions league.
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and, how dan evans' davis cup performance can inspire britain to more tennis success. hello and welcome to sportsday. we'll start with the premier league, and burnley have got their first point of the season, after drawing 1—1 with nottingham forest. vincent kompanys side opened the scoring through zeki amdouni's 20—yard strike in the first half before callum hudson—0doi got the equaliser on his debut for forest. it wasn't without its drama though — burnley�*s lyle foster had a goal disallowed for handball which would've put them back in the lead, before being sent off in stoppage time with a straight red. this result means burnley stay in the relegation zone,
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while forest move out of the bottom half of the table

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