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tv   Asia Business Report  BBC News  November 20, 2023 1:30am-1:46am GMT

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but hosts india gets an economic boost from the cricket world cup. hello and welcome to asia business report. i am suranjana tewari. we begin with the turmoil at the top of openai. there are reports of ongoing discussions among the company's top executives about reinstating sam altman as chief executive. this just days after the board of the company behind the chatgpt bot shocked the tech world by firing mr altman, a man who has been the face of openai's rise. our business reporter david waddell has more. it has been a tumultuous few days at openai. what is that? it is a guest pass for the officers of openai. it is a guest pass for the offices of openai.
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he was fired on friday. he has been invited back by the interim ceo mira murati according to reuters, that's with a view to him possibly rejoining the company. when he was fired, the company released a statement, they said this... "mr altman's departure follows a deliberate review process by the board which concluded..." "the board no longer has confidence in his ability "to continue leading openai." his dismissal has angered current and former employees concerned about what his departure may mean for the value of the company. one of the big shareholders is microsoft, reportedly owns 49% of the company. they are among those apparently taking a lead in trying to get mr altman back on board. their concern is that his departure may mean to bleeding of other wider talent. a challenge though is whether they can get his reinstatement passed the current board.
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earlier i spoke to managing director at wedbush securities dan ives and he said openai's board might not walk away from this unscathed. this is a train wreck situation. i mean, the board clearly overplayed their hand. i'd almost call it a coup attempt in terms of trying to get altman out but this is going to backfire. i'd expect potentially the board to be out in the next 2a hours, altman to be back. he is the golden child of ai and microsoft another investors are focussed on it. we do you think the issues are? we are all speculating here but it does seem rather bizarre, given such a high—profile company? look, i think this was essentially a political battle between altman and the board and i think the board essentially overplayed their hand. they did not understand the global ripple effect
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here because if altman became a free agent who could go out after him? amazon, musk, apple. that is when dell and microsoft and other investors swept in. four people on the board, they are not going to impact the trajectory of ai from microsoft and really for the tech industry for decades to come. so i think essentially this board, their days are numbered. microsoft is a stakeholder, as you mentioned. what are we hearing from their end about what is being playing out? this is a friday night special and when it happened in the us, the got a call essentially two minutes before the press release. for a company investing $13 billion in openai, this is going to be a harvard business case for years to come but it comes out to altman is the face of ai.
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it is notjust about him, he leaves, everyone else follows which is why i would expect probably in the next 12 hours that altman is back as cpo at openai. meta platform is disposing the members of its team across different groups in the company. a spokesperson said they will continue to work preventing potential harm. the company said it will allow it to better scale its future needs. in other news. the ceo of optus kelly bayer rosmarin has resigned. it comes days after australia's second—largest telco suffered a network wide outage that left nearly half the country without phone or internet coverage for 12 hours. the incident, caused frustration
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among customers and raised of wider concerns about the country's telecommunication infrastructure. provisional results from argentina presidential run—off poll shows a right wing libertarian javier run—off poll shows a right wing libertarianjavier milei will be the country's next president. election comes at a difficult time for argentinians with soaring inflation and an economy in crisis. that mr milei's proposal which included detonating the central bank, one support with voters desperate for change. many economists talk of financial disaster. on sunday australia were crowned cricket world cup champions in a match that stunned host india. the six week long world cup tournament has given a major boost to the country's advertising, food and drink industry. i think this world cup has
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been slightly different compared to the earlier versions. it is not being shared across other asian nations. it is shown free in platforms. the performance of india has been far superior in this tournament. and the fourth point is that the world cup has clashed with the festive season. the october—december months. the october—december months. the consumption mood is quite upbeat. advertisers are spending money, consumer who want to spend money on the ground and people have travelled a lot. a significant boost in oral consumption and also a big
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burst in terms of advertising space. if you look at the tournament, it could be around 2.5% of all india expense. this has boosted expense by 2%. india expense. this has boosted expense by 296-— india expense. this has boosted expense by 2%. india has hosted ma'or expense by 2%. india has hosted major sports _ expense by 2%. india has hosted major sports events _ expense by 2%. india has hosted major sports events in _ expense by 2%. india has hosted major sports events in the - major sports events in the past. the commonwealth games come to mind. but there has also been some controversy over organisations and allocation of funds and resources. what has a reaction been this time around? i do not think there was anything of that sort into this tournament. i think cricket is considered as a religion in india and because all the matches of been hosted in india, people have welcomed this as a very big move and we have seen the amount of money spent on travel, hotel bookings and tickets. there was always a shortage of tickets because of the significant demand of people wanting to watch it live in the
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stadium so this is showing the importance of cricket in a country like india and we believe that cricket will always have a big viewrship numbers. is it important to listen to negative as well as positive feedback when you are starting a business? that is what jay williams believes. he founded a street where brand in birmingham 2013 withjust where brand in birmingham 2013 with just $250. is now stocked in more than 700 stores. he talks about his experience of growing the business for our ceo secret series. from the street to the stock, for me it wasn'tjust an iconic moment.
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hood rich is about my personal journey hood somewhere where you are and rich somewhere where you aspire to be. nine years later, 2023, we will sell over 2 million products this year and we are stocked in over 700 stores globally in 2a different countries. the most powerful thing a brand can do is have the right people wearing the brand. it is going to be seen by thousands, sometimes tens of thousands of thousands of people depending on the level of the artist. having walking billboards as a brand is powerful. i like hood luxury so hood meaning proper streetwear aesthetic but then like luxury things like my premium ascetic so i suppose it is merging
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the two together and thatis the two together and that is just kind of my personality filtering through. you cannot please everyone in business. the brand is not going to be for everybody. when you get to a certain level, thatis to a certain level, that is just what comes of the game and i will keep going and use negative comments as fuel to better myself, better what we're doing here at hood rich. that is all the time we had for you here. thank you for watching. bbc news, bringing you different stories from across the uk. this was a scene just last month, as stronger bet swept across. but what can be done to protect properties like this from flooding? these
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defenders are part of a project. this is a high flood risk area. this will help save hundreds of householders from heartache and flooding. 223 preperties _ heartache and flooding. 223 preperties at _ heartache and flooding. 24 properties at risk of flooding during a one in 100 year flooding event and that has increased to over 480 with climate change.— increased to over 480 with climate change. the effects of floodin: climate change. the effects of flooding can — climate change. the effects of flooding can be _ climate change. the effects of flooding can be devastating. l flooding can be devastating. this animal sanctuary is close to a river and regularly blighted by flooding. in january, they had to take one of their dogs to chemotherapy by boat. i of their dogs to chemotherapy b boat. ., ., , , by boat. i had to put my elderly _ by boat. i had to put my elderly mother - by boat. i had to put my elderly mother in - by boat. i had to put my elderly mother in a - by boat. i had to put my elderly mother in a boat by boat. i had to put my i elderly mother in a boat a by boat. i had to put my - elderly mother in a boat a few weeks ago, pushes through the water to get her home. i have had to put dogs in a boat to get them to the vets. it is just an absolute living hell. moving is not an option for
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this woman who says she is trapped. for more stories from across the uk had to the bbc news website.
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voice-over: bbc news, - bringing you different stories from across the uk. we're campaigning for free school meals. it's been proven that people that have school meals make more progress in english and maths. the school council at hillston primary school birmingham is on a mission. all children in england get free school meals until they are seven. but from year 3, only a limited number are entitled. from year 3 above, _ if you earn more than £7,400 — that figure hasn't - changed for a long time — you are not entitled i to free school meals. you have parents on low incomes working two or three jobs - to make ends meet, earning just over that amount of money- and then they have to pay for school meals as well on top. |
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in northern ireland the income threshold is double at £14,000 and in scotland and wales free school meals for all primary—aged children are being rubbed out. in london they currently get free meals as well. i feel a bit disappointed because, if they have it, then that's not fair for everyone else. the food foundation charity says the income threshold qualifying for free meals is too low. children say they will continue to push for change for their health. voice-over: for more - stories from across the uk, head to the bbc news website. hello there, i'm olly foster. here's what's coming up for you on sports day. india and theirfans are silenced as australia become world champions for a sixth time. and next stop germany.
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we'll have all the latest euro qualifying results. and djokovic breaks another record as he finishes this seasons atp tour on a high. australia's cricketers are world champions for the sixth time. they stunned the hosts india in ahmedabad, travis head's century helping them easily reach their target of 241 to win by six wickets. our sports correspondent joe wilson was watching. anyone supporting india? start with about 130,000 at the ground and multiplied across the world's most populous nation. a vivid display of indian strength and they had onlyjust finished the anthems. batting began with the captain.
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rohit sharma hitting three sixes in the first ten overs,

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