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tv   Asia Business Report  BBC News  October 23, 2023 12:30am-12:46am BST

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start the programme with the latest on electronics giant, foxconn, under investigation in china. authorities that are carrying out an on—site investigation in multiple locations. the company operates in those, according to chinese state media. let's understand what is happening with our business reporter who is joining us from our newsroom. and what exactly are they accused of? it and what exactly are they accused of?— and what exactly are they accused of? , , ., ., accused of? it is reported that foxconn is _ accused of? it is reported that foxconn is under _ accused of? it is reported that foxconn is under investigation at multiple locations, and were not clear on specifics. foxconn is the electronics giant that makes many products including the apple iphone. it
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is a taiwanese company has got good relations with the chinese government which is why it has so many factories on the mainland. foxconn says it will cooperate with authorities and respond to whatever it is asked. ~ ., respond to whatever it is asked. ~ . respond to whatever it is asked. ., ., asked. what you make of the timin: asked. what you make of the timing of _ asked. what you make of the timing of the _ asked. what you make of the timing of the developments? j timing of the developments? it's not clear why it's happening now. what we do know is it's a sensitive time for taiwan. two and a half months from a presidential election which will be of interest to china. china claims taiwan as its own, although it is a self governed territory. the other interesting thing is that the former foxconn ceo and chief executive and founder recently cut ties with the company so he could run in and there's no indication it might be a
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coincidence and at an interesting time for them to be investigated in china thank you very much for putting the story in perspective and it's a developing story we track. figs developing story we track. as we've been seeing. it's not just foxconn other countries under scrutiny are microsoft, alphabet and mehta, who will be announcing their earnings later this week. our business reporter tells us more on what to look out for. it’s reporter tells us more on what to look out for.— to look out for. it's a bumper week for— to look out for. it's a bumper week for tech _ to look out for. it's a bumper week for tech earnings, - to look out for. it's a bumper week for tech earnings, a - week for tech earnings, a sector hit hard with lay—offs and government regulation earlier this year but seems to be the most part bouncing back. it's notjust how they did in the previous quarter, investors are looking at what companies say about what is coming next. on tuesday microsoft will report its earnings for the third quarter, a company that often beats expectations. microsoft managed to get its huge acquisition of the video game publisher which makes candy crush over the line.
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getting hard won approval from the regulators and that is the good news but microsoft might also have to pay almost $30 billion. last quarter the earnings outperformed the other tech stocks. investors like that saw the company shares jump. this time around people will look to how google cloud and google search and youtube ad revenue did, and including more detail on how the ai bot can take on chatterjee bt, which microsoft has a huge investment in. on wednesday, the company behind facebook and whatsapp reports, facing competitions from the likes of telegram, it announced it would roll out broadcast channels allow users to broadcast messages on facebook and messenger. on thursday, the south korean chip giant is one of the worlds largest makers of memory chips and has had a really tough couple of quarters, like its larger rival
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samsung. that's because of an ongoing over global supply of chips has caused prices to drop but it will be interesting to hear how ai is driving demand for its high—end chips. similar results expected on the same day for intel. investors see we might see a double digit drop and it's been hit by a slump in the pc and smartphone industry. and finally on thursday it is online retail behemoth, amazon, shares up almost 50% and expectations for the results are high. the company's cloud computing arm is getting a boost by the move towards ai but amazon is facing huge legal battle. a landmark anti—trust lawsuit in the united states. katie silva with the details of what's expected later in the week on that front. we will keep a close watch on developments. forthe keep a close watch on developments. for the moment, let's turn our attention to the latest coming in from general motors and ford and all will be
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reporting their third—quarter earnings later this week. it is coming amidst some of the biggest strikes we have seen in us history at the plants of both companies. unions have been demanding pay rises, citing healthy profits from the auto—makers, both general motors is one of ford have said the strikes will hurt their profits. now to other news making headlines this morning. the australian prime minister anthony albanese he will travel to china at the end of next week to try and stabilise relations with the country's biggest training partner, and he will also meet with the chinese president, and the two countries have been locked in a bitter dispute over the wine trade made worse in 2020 when the australian leadership sought an investigation into the coronavirus origins but the relationship might be improving. on sunday china said both sides reach a consensus on the wine dispute. beside foreign policy, australia has domestic issues to contend with like inflation and all eyes
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will be on the new governor of its central bank when she speaks publicly for the first time on tuesday and there were talks of a rate hike to dampen high prices when she chaired herfirst meeting in high prices when she chaired her first meeting in october, so that's something we're looking out for but the bank ultimately decided to hold the rate steady and that is why the wednesday release of third quarter consumer prices will be critical and closely watched after the 6% level reached in the second quarter. i spoke to kelvin wong with one financial services company and he explained to me the inflationary pressures australia currently faces. even thou:h australia currently faces. even though the _ australia currently faces. even though the expectation - australia currently faces. even though the expectation for- australia currently faces. even though the expectation for the numbers comic markets are expecting a low number compared to about 5.2% over 6.2 in q2 to about 5.2% over 6.2 in 02 but due to this high energy price we see in the last two months, the cpi indicator on this wednesday, the markets
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expect a upward tick to 5.3% plus 5.2% in august, so if that comes to expectations, that will be two consecutive run of inflationary pressure picking up inflationary pressure picking up in australia, so that is a tough one, and less lagging inflation compared to the quarterly one. on the story over here we see especially in australia and new zealand, primarily the growth is dependent on an extra low economy, as any relation with china with china last week we had this liquidity problem. hats? had this liquidity problem. how do small businesses _ had this liquidity problem. how do small businesses compete with their much bigger rivals who might also be getting government help to stay profitable. those are the challenges that the boss of fiji airways thinks about every day. fiji airways thinks about every da . ., . ., , day. one of the core things we have done _
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day. one of the core things we have done with _ day. one of the core things we have done with our _ day. one of the core things we have done with our airline - day. one of the core things we have done with our airline is i have done with our airline is put on a remarkable service. service culture programme, we run it quarterly, all of the staff and we have 12 building blocks and it's done amazing stuff for us. our service today beats air new zealand and qantas. , , ., ., qantas. is it 'ust down to service? — qantas. is it 'ust down to service? we _ qantas. is itjust down to service? we have - qantas. is itjust down to service? we have a - qantas. is itjust down to service? we have a new. qantas. is itjust down to - service? we have a new fleet, fl in: service? we have a new fleet, flying the _ service? we have a new fleet, flying the 50 _ service? we have a new fleet, flying the 50 900s _ service? we have a new fleet, flying the 50 900s and - service? we have a new fleet, flying the 50 900s and we - service? we have a new fleet, l flying the 50 900s and we have four of them that service the markets and we have a superb product, so between product and service standard and quality, we are a step ahead.- service standard and quality, we are a step ahead. let's talk about australia _ we are a step ahead. let's talk about australia because - we are a step ahead. let's talk about australia because the i about australia because the assistant treasurer has recently said he wants the australian government to keep qantas profitable. you compete against qantas. how do you feel about the state aid that your rival has possibly received? i honestly wish we had the same. during coronavirus they helped us with guarantees that no cash and we had to double our debt to survive. and we've already
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paid back 30%, so we had a different approach to qantas and air new zealand. we never shut down and we kept the airline alive, so our philosophy was to be ready at a moment's notice and we had many ready programmes and when in december 2021, the board is open, we were the first movers in the market, and still the first mover today.- in the market, and still the first mover today. votes are bein: first mover today. votes are being counted _ first mover today. votes are being counted in _ being counted in the argentinian presidential election. the front runner is a right—wing economist and tv personality who has proposed replacing the local currency with the us dollar to control spiralling inflation. september inflation came in at 138% in the south american nation. finally, taylor swift continues to hit different at the box office. hertour concert to hit different at the box office. her tour concert movie raked in another $31 million on its second weekend in the cinemas. if the film crosses the $2625 cinemas. if the film crosses the $262.5 million mark before the $262.5 million mark before the end of november, it will
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become the highest grossing concert movie of all time, beating michaeljackson�*s this is it, in 2009, the most any concert film has snared in north america. that's all for the moment on asia business report. do stay on with bbc news. don't get much worse than this. just look at the height of it, then and now. but in the space of two months, there's been no clear up here on the streets of west marsh. and mark lawless, who's campaigning against fly—tipping, says the problems only got worse. what have we got here that might get crumbs, tin food, plastic bottles, food waste? you talk about the smell. doesn't smell too pretty. but it's even on the street corners
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all over the town. both grimsby and cleethorpes. if you've got a you'll notice these hundreds of discarded trolleys full of rubbish. and what a shock! a trolley full of rubbish. today in grimsby, it's been clear to see just how much or how little has been done to clear up this problem. that should have been took. but with council's not responsible for the clear up of private spaces like alleyways. it's difficult to see how all this will change without help from the community. this is not normal kids growing up and thinking this is normal. it's only going to get worse. change, of course, won't happen overnight, but what many litter campaigners are hoping for is at least some improvement. for more stories from across the uk, head to the bbc news website.
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it is the missing puzzle piece. anna is an award—winning permanent make—up artist, but the real prize is using her skills to help people who have undergone huge physical changes as a result of surgery. it’s as a result of surgery. it's vital for — as a result of surgery. it's vital for those _ as a result of surgery. it's vital for those men - as a result of surgery. it�*s vital for those men and women who fought breast cancer to have this final step.- who fought breast cancer to have this final step. this mum of two from — have this final step. this mum of two from lincolnshire - have this final step. this mum of two from lincolnshire was l of two from lincolnshire was diagnosed with breast cancer in
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2021 and had a double mastectomy.- 2021 and had a double mastectomy. after my reconstruction, - mastectomy. after my reconstruction, i - mastectomy. after my reconstruction, i was i mastectomy. after my i reconstruction, iwas left mastectomy. after my - reconstruction, i was left with no nipples, and it was something i thought, you know, 0k, something i thought, you know, 0k. find~ — something i thought, you know, ok. find~ i— something i thought, you know, 0k, find. i still look normal having _ 0k, find. i still look normal having a _ 0k, find. i still look normal having a reconstruction and i was — having a reconstruction and i was happy with that. as time went— was happy with that. as time went on. _ was happy with that. as time went on, it sort of grates on a little — went on, it sort of grates on a little bit _ went on, it sort of grates on a little bit. ,, went on, it sort of grates on a little bit-— went on, it sort of grates on a little bit. she discovered anna offerin: little bit. she discovered anna offering the — little bit. she discovered anna offering the service _ little bit. she discovered anna offering the service privately l offering the service privately in chester and made the five—hour round trip for the treatment which cost £600 for a of tatties. i treatment which cost £600 for a of tatties. , of tatties. i 'ust feel complete. _ of tatties. i 'ust feel complete. lb of tatties. i just feel complete. i can - of tatties. i just feel| complete. i can look of tatties. i just feel i complete. i can look in of tatties. i just feel - complete. i can look in the minor— complete. i can look in the mirror and feel normal. i did to start _ mirror and feel normal. i did to start with, i'm so happy. for— to start with, i'm so happy. for more _ to start with, i'm so happy. for more stories from across the uk, head to the bbc news website. welcome to sport today. the
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headlines this evening. a classy knock from a virat kohli sens cricket world cup hosts india to the stop —— top of the table after a win over you —— new zealand. world champion max verstappen was made to work for his 50th formula i win at the us grand prix. a perfect first anniversary present for the unai emery as aston villa beat west ham in the premier league. welcome to the programme. we start at the wicket world cup where india are the only unbeaten team left in the competition after their four wicket victory over new zealand. the win included a batting masterclass from virat kohli which was watched by bbc news. a ground carved into the
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mountains and the two teams at the summit. india and new zealand were unbeaten and on course. the top two in the pool course. the top two in the pool, but the hosts wanted so much more. he pool, but the hosts wanted so much more-— pool, but the hosts wanted so much more. he has bowled him. pla ed much more. he has bowled him. played on- _ much more. he has bowled him. played on. early _ much more. he has bowled him. played on. early wickets - much more. he has bowled him. played on. early wickets for - played on. early wickets for india turned up the volume and slowed new zealand. daryl mitchell came in and crashed through the noise. he scored a century at a run a ball but the response was emphatic. bowls him. response was emphatic. bowls him- two _ response was emphatic. bowls him. two into. _ response was emphatic. bowls him. two into. india _ response was emphatic. bowls him. two into. india took - response was emphatic. bowls him. two into. india took all i him. two into. india took all ten wickets _ him. two into. india took all ten wickets and _ him. two into. india took all ten wickets and new- him. two into. india took all| ten wickets and new zealand him. two into. india took all - ten wickets and new zealand had come up short. the host went to chase 274 and took aim for the himalayas. he chase 274 and took aim for the himalayan-— chase 274 and took aim for the himala as. ., . , , ., himalayas. he launches this one way back- _ himalayas. he launches this one way back- my — himalayas. he launches this one way back. my word, _ himalayas. he launches this one way back. my word, that - himalayas. he launches this one way back. my word, that was - way back. my word, that was some shock.— way back. my word, that was some shock. the one thing on their way _ some shock. the one thing on their way was _ some shock. the one thing on their way was what _ some shock. the one thing on their way was what came - some shock. the one thing on | their way was what came down from the hilltops. fail —— fog held the match but it did seem pass through and when india came back, they were hazy. goes towards the _ came back, they were hazy. goes towards the keepers _ came back, they were hazy. goes towards the keepers end - came back, they were hazy.
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crucially virat kohli was - has run out. a run out, but| crucially virat kohli was still at his end. india's

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