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tv   Asia Business Report  BBC News  October 24, 2023 2:30am-2:46am BST

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the largest states. workers at the largest plants at chrysler and stellantis have joined the walk outs and it comes as two other car—makers affected by the strike, general motors and ford, prepared to report their third—quarter earnings. it is ford, prepared to report their third-quarter earnings.- third-quarter earnings. it is a surrise third-quarter earnings. it is a surprise and _ third-quarter earnings. it is a surprise and an _ third-quarter earnings. it is a surprise and an escalation. i the united auto workers union called on 6,800 workers to walk out of a stellantis plant outside detroit, where the company makes its pick—up trucks. it's stellantis's largest us plant. in total, some 40,000 workers are now on strike at stellantis, ford and gm. that's more than a quarter of the membership employed by detroit's big three auto—makers. the auto—makers have laid off thousands of workers. this strike is historic for targeting all three auto—makers at once. union members are asking for pay increases, as well as better benefits for retirees and others. this is the first escalation since the uaw ordered nearly
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9,000 workers to walk out at ford's largest plant in mid—october. the tactic has been to play the auto—makers against each other and, in this instance, the uaw may try to pressure stellantis to match an offer on the table. we'll get a glimpse into what this means when gm and ford report currently earnings this week. in the past, the union have used pay and reports to fuel the argument that the companies can afford concessions to workers. gm reports tuesday. given wall street verse look at the impact of the strikes. ford follows on thursday. staying in the us, rumblings in the market appear to have concerned investors. the snp closing at its lowest since may, that has led to higher demand for government bonds, also called treasuries. often viewed as a safe—haven investment. leading to a fall in the yield. a boost in demand pushes up
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prices leading to a fall in the yield, but that has bounced back amid concerns that the fed will continue to hike rates. i spoke to tim murray about the implications. we'll probably see the curve skirt or come close to it in the next three months or something like that. normally, the short end of the curb comes down and goes below the longer curve, the longer end of the curve comes up, but in this case, the long end is coming up. that's something we really have never seen before and we're not sure exactly how the market is going to react to that. it's probably a good thing because it probably means economic growth looks strong. given the developments fast unfolding in the middle east, how do you see that playing a role in terms of us treasuries? yeah, it's not clear, so if the conflict does expand
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outside ofjust israel and gaza, that would be a problem because it would probably mean oil prices go up. oil prices go up, inflation goes up, and that probably would push rates even higher. other than that, you don't expect a whole lot of impact. but typically, when we do see uncertainty increase, that does create a demand for us treasuries to go up, and that pushes rates down. however, we haven't seen a lot of that yet, but that's another factor. so on balance, i would say that situation is kind of neutral. here in asia, the japanese economy is also facing a slump. people aren't spending because wages aren't increasing fast enough. if at all. and things are getting costlier. the prime minister, fumio kishida, has outlined plans like tax cuts — something he was hesitant to introduce.
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0ur guest told me that implementing these reforms could be a challenge. japan, after 20 years of trying, finally has inflation and consumers don't like it. i think this response by the government in some ways is the right response. it's just a bit belated at this point. i think the bigger question is implementation — how quickly does the government implement these changes and how do they explain how to pay for it? japan has the largest debt burden among developed nations. and there's a question about how to pay for these steps at a moment when the government is increasing military spending and childcare spending. it will be interesting to see how they finesse this. that's an interesting point you raise. so what are your expectations, in terms of tax cuts? something we know prime minister kishida has been hesitant about. when the prime minister came
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in, he talked about creating a new capitalism. the tax cuts are largely focused on the middle class. so that is a good thing. however, there also is talk about corporate cuts. japanese companies do not need a tax break. what they need is to enforce tax rolls to get companies to pay more taxes. that's a bit of a miscue. but i do think the focus on the middle class is smart, the only bad part is, these are temporary. if you try to change consumer spending, you try to give households confidence in the economic future, you don't want to make these cuts temporary, you want to make them permanent. turning our attention to india and challenge the country has to deal with every year. toxic air is once again back to haunt major cities like delhi and mumbai. india's capital has been suffocated by one of its worst air pollution is on
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record in recent days, sending the government into firefighting mud, and it is only going to get worse. —— firefighting mud. well, a raft of policies have been announced to tackle air quality, which has now hit a very poor level in the indian capital. in a meeting in delhi yesterday, the environment minister announced the metric frequency will be increased. so public transport is used more widely than cars. the government has also said special teams will be identified to inspect the local source of pollution across eight or nine hotspots in the capital. the minister said dust suppressant powders will also be used to curb pollution. reports suggest a crackdown on firecrackers and stubble burning in farms and neighbouring states could also be some other measures under consideration going ahead. in mumbai, pollution guidelines have been issued to some 6,000 construction sites to keep air quality in check.
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this includes instalation of sprinkler systems and anti—smog machines. but how productive these policies are in tackling what has become a persistent and recurrent problem during the winters will only become clearer as temperatures drop further in the days ahead. they are nasty, creepy and crawly, bedbugs, and they are making a comeback in france. hotels and governments have been scratching their heads about how to tackle this problem. dougal shaw went to find out about one technology operating in the uk and how it could help. these bedbugs don't know it yet, but they are walking into a trap. this device contains a pheromone chemical that attracts bedbugs and the trap is typically set in beds or seats. connected to the internet when a creature is captured, a camera inside takes a picture and transmits it so that al software, aided by the human
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eye, can confirm if the dreaded bed bug has been found. then an alert can be sent to people like hotel or transport staff, so pest control measures can begin before the bugs multiply. the devices are placed all around the world, but the nerve centre is here in cambridge. the start—up behind this was set up by science graduates from cambridge university. they act as an early—warning system and effectively, it's like a covid test. so you're doing the measuring to tell you where to go and treat. before that, you can catch it earlier, before they spread. so as a company, you have a live data set of bed bug activity. do you think there's been a rise in the number of bedbugs, or is it partly driven by social media hysteria? we've monitored abouti million hotels now and there has been a consistent rise this year. before covid, there had been
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a long—term trend upwards. 0ver over a decade. it dropped back a bit with everyone travelling, but now it has come back with a vengeance. this is not the only game in town, other companies incorporate traps in furniture legs, while others use sniffer dogs. but there is a stigma around pest control for clients like hotels, not to mention it as another cost for the struggling hospitality industry. i spoke to one owner of a paris hotel, who has invested in this bed bug detection technology and displays a badge to show this to customers. about two weeks ago, we had the detection of the bedbug. and i want to tell you, it's frightening. the reason we invested in this technology is first, as a service to the customers. second, the reputation of the hotel. and third, this will eliminate the risk of somebody suing us because he or she was bitten. rising global concern about bedbugs has certainly brought new interest into all aspects of this somewhat niche industry. the future growth of which depends very much on the
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fate of the tiny bedbug. and after watching that, if you are still itching for more news, you can get that on the bbc news website. that's all for now, thank you for watching. bbc news — bringing you different stories| from across the uk. it 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 westmarsh, and mark lawless, who's campaigning against fly—tipping, says the problem's only got worse. what have we got here, then, mark? tin cans. tinned food. plastic bottles, food waste. you can tell by the smell, the area doesn't smell too pretty. but it's even on the street corners. all over the town, both grimsby and cleethorpes. if you go round, you'll notice there's hundreds of discarded
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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 councils 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 are 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 l to the bbc news website. hey, i'm zof, with the catch up. tonight, more flooding across the uk, a breakthrough on cervical cancer and
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a pumpkin boat race. but first, the israeli military has increased air strikes on gaza. the health ministry there, which is run by hamas, says more than 430 people have been killed in 2a hours. israel say they're targeting sites that may pose a security risk. more than 1,400 people were killed in hamas's attack on israel earlier this month. meanwhile, rishi sunak says british experts think an explosion at a hospital in gaza last week was likely caused by a missile fired from gaza. hamas blame israel, but israel say it was a misfiring of a palestinian islamichhad rocket. some other stories now. there's a warning of flooding from storm babet could last days. thousands of people were evacuated and more than 100 flood warnings are in place. next, a ban on no—fault evictions has been delayed. landlords can kick out tenants who aren't on fixed—term contracts with two months' notice without a reason.
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ministers promised to ban that in 2019, but now want other changes. and some good news. scientists say they might have made the biggest breakthrough in treating cervical cancer in 20 years, using cheap existing drugs before radiotherapy. a trial found it cut the risk of women dying, or the cancer returning, by 35%. time now, then, for ten seconds of giant pumpkins. check this. these kayakers are taking part in an annual pumpkin boat race in belgium. this broccoli hat at the end there is definitely my favourite costume. she really doesn't hold back! you're all caught up now. see you later.
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hello and welcome to sportsday with me, tulsen tollett. tottenham beat fulham to return to the top of the premier league. tributes for sir bobby charlton continue at manchester united. and afghanistan hold their nerve to beat pakistan at the cricket world cup.
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hello and welcome along, where we begin with football and the premier league, where tottenham hotspur are back on top of the table after a 2—0 win over fulham. goals from son heung—min and james maddison sealed the victory. the result means fulham stay 13th. spurs appear to be a team transformed under australian ange postecoglou, and it may not be long before they're viewed as genuine title challengers. the spurs boss was delighted with his goalscorers. it's great. they're both quality players and they're obviously leaders at the club, and i thought they really handled it well today in terms of, again, like the rest of the team, particularly, just with their work ethic. they're both quality players with the ball. but their ability to press the opposition and work hard for the team is a credit to them. but again, they're also involved in the second
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