welcome to asia business report, i'm sharanjit leyl.me to asia business report, i'm shara njit leyl. we welcome to asia business report, i'm sharanjit leyl. we start with america's opioid crisis and johnson &johnson has america's opioid crisis and johnson & johnson has been america's opioid crisis and johnson &johnson has been ordered to pay $572 million for its part in fuelling the painkiller crisis in 0klahoma. shares of the us drugmaker actually rose on the news as the ruling was much lower than the $17 billion the state had been seeking. the bbc‘s samira hussain has more. the bbc‘s samira hussain has more. thejudge in the bbc‘s samira hussain has more. the judge in oklahoma the bbc‘s samira hussain has more. thejudge in oklahoma said johnson & johnson was responsible for fuelling the opioid crisis but the company was only fined $572 million, a fraction of the $17 billion the state of oklahoma was asking for. in a brief statement made by the judge, he indicated the fine being levied on the company was the maximum amount he could forc

i'm sharanjit leyl in singapore. the headlines: the g7 summit ends with the possibility of a meeting between president trump and the iranian leader. drug companyjohnson and johnson is fined over $500 million for its part in america's opioid addiction crisis. i'm rico hizon in london. also in the programme: indonesia is to have a new capital built on the island of borneo as the land around jakarta sinks. and dancing the days away — seoul's seniors disco tackles loneliness. announcer: live from our studios in singapore and london. this is bbc world news. it's newsday. good morning. it's 8am in singapore, 1am london and 2am in the french resort of biarritz, where the g7 summit of world leaders has ended in an unexpectedly positive mood. french president emmanuel macron persuaded his colleagues to agree to help brazil fight the fires in the amazon. he also convinced president trump to at least consider a meeting with iran's president rouhani. and mr trump himself was upbeat about the resolution of another crisis he has i

i'm sharanjit leyl. business report. i'm shara njit leyl. we edition of asia business report. i'm sharanjit leyl. we start with uber because it shares are falling sightly in extended wall street trade —— sharply. the firm has lost over $5 billion in the three months tojune. over $5 billion in the three months to june. the bbc‘s over $5 billion in the three months tojune. the bbc‘s michelle fleury has more. responding to urban puzzle make second—quarter results, —— uber‘s second—quarter results. uber has turned into the magical money burning machine. it goes to the heart of the business, can it become profitable? sceptical investors gave the stock a cold shoulder. it doesn't help that its rival, lyft suggested it could achieve profitability sooner than expected. initially, uber has spent heavily to achieve market share. uber‘s costs still rose ia7% to $8.65 billion in the quarter, it spent more on research and development. uber‘s ceo is betting that future growth will come notjust from is betting that fut

i'm sharanjit leyl. business report. i'm sharanjit leyl. we‘ ll start business report. i'm sharanjit leyl. we'll start with the dispute between japan and south korea, because their foreign ministers meeting in beijing is the ongoing dispute continues to hit businesses in both countries. in earlyjuly, tokyo hit businesses in both countries. in early july, tokyo restricted hit businesses in both countries. in earlyjuly, tokyo restricted exports of materials critical to south korea's semiconductor industry citing national security concerns. we are seeing evidence of the impact on the south korean economy and our business reported mariko oi has been following the story. mariko, we've had some new numbers out of south korea this morning. what do they tell us? that's right. the impact is quite severe. we saw the new numbers out of south korea for the first three weeks of august, experts were down sharply —— exports, over 13% —— 30% for chips. we saw a lot of consumers, meanwhile, in south korea boycotting japa

i'm sharanjit leyl in singapore. the headlines: australia's court of appeal will shortly deliver its ruling on the case of cardinal george pell, the most senior catholic worldwide to be found guilty of sexually abusing children. italy's government in turmoil — the prime minister has quit blaming his deputy, matteo salvini, and his right—wing league party for the coalition‘s collapse. i'm rico hizon in london. also in the programme: we investigate how japan is using migrant labour to help bridge a shortage of workers. and — fancy a trip into space? virgin galactic says they'll be issuing boarding passes as soon as next year. voiceover: live from our studios in london and singapore, this is bbc world news. it's newsday. it's midnight in london, 7:00am in singapore and 9:00am in melbourne, where the victorian court of appeal is set to deliver its ruling on the case of cardinal george pell, the most senior catholic found guilty of sexually abusing children. a jury found pell guilty last december of the sexual penetration

i'm sharanjit leyl.lso in the program: thousands of people have been evacuated as firefighters battle wildfires blazing out—of—control on spain's canary islands. the blaze has burnt through 6,000 hectares of land. and protecting the pangolin, could there be hope for protecting one of there be hope for protecting one of the most trafficked mammals in asia? live from our studios in london and singapore. this is bbc world news, it's newsday. glad you could join us. in the event ofa glad you could join us. in the event of a no—deal brexit on october 31, citizens of the european union will immediately lose their automatic right to live and work in the uk. under the previous government's plan, freedom of movement would have continued for a limited period but that has now changed. prime minister borisjohnson reiterated today that has now changed. prime minister boris johnson reiterated today again that britain will be ready to leave the european union at the end of 0ctober the european union at the end of octob

i'm sharanjit leyl in singapore. headlines: india puts kashmir on lockdown — pakistan's prime minister says the move will increase tension between the two countries. translation: i'm telling you, it will have serious consequences. everyone will lose, so this is the time to act. beijing's warning to protestors in hong kong, a spokesman says they're "playing with fire". i'm lewis vaughanjones in london. also in the programme: the fbi says the gunman who killed nine people in dayton, ohio, had an interest in "violent ideologies". president trump will visit later on wednesday. and tributes to toni morrison, the first african american author to win a nobel prize, who's died at the age of 88. live from our studios in singapore and london, this is bbc world news. it's newsday. good morning. it's 8:00am in singapore, one am in london and 5:30am in the morning in kashmir, where delhi's sudden decision to strip the indian—administered region of its special status is facing growing opposition from pakistan. the pakistani prime

and i'm sharanjit leyl in singapore.ictures. a french inventor has become the first person to cross the english channel on a jet—powered hoverboard. it was second time lucky for franky zapata. he fell into the sea whilst trying to refuel on his first attempt. but this time there were no issues. the inventor successfully made the 35 km journey injust 22 minutes. hello. the weekend ended on a dramatic note weatherwise for some parts of the uk. some really vicious thunderstorms, especially across the midlands, northern england and scotland. and through the coming week, more of those heavy downpours. quite hit and miss. there will be some dry weather, but where the rain does show up, it could be pretty intense, and could bring some further disruption. low pressure once again taking charge of the scene. you can once again taking charge of the scene. you can see once again taking charge of the scene. you can see the cloud swelling around the centre of that low on our recent satellite picture. ahead of that main area of low pre

i'm sharanjit leyl in singapore.in the programme: president trump calls denmark's prime minister "a nasty woman" and cancels his trip after she says greenland "is not for sale". more allegations about prince andrew's links with the convicted sex offenderjeffrey epstein. buckingham palace says "any suggestion of impropriety with minors is categorically untrue." live from our studios in london and singapore, this is bbc world news. it's newsday. it's midnight here in london, 7:00am in singapore and 1:00am in the morning in berlin, where borisjohnson began his first foreign trip as prime minister. on thursday, he goes to paris. mrjohnson wants european leaders to change the deal agreed with his predecessor theresa may. the eu response has been firm until now — not a chance. chancellor angela merkel greeted him with smiles, but warned him he only had 30 days to come up with an alternative. 0ur political correspondent ben wright is in berlin. another prime minister arrives in berlin to demand more concessions on brexit. p

and i'm sharanjit leyl in singapore. stay with us.magination. we will see why young people in india are singing and dancing their way to the streaming app bigo live. and before we go, the harry potter books are loved by children and adults alike around the world. well, now a rare edition of the first book has sold for more than $30,000. the first—edition is just one of 500 that were printed with two specific errors in the text. what makes this auction even more extraordinary — the seller himself bought the book forjust £1 about 20 years ago. so he has made a couple of quidditch. hello. in the last couple of days, some of the showers that we've seen breaking out across the uk have been nothing short of vicious, leading to disruption to transport and localised flooding. in the next few days, not an entirely dry story, but far fewer showers, and they should also be less aggressive. the reason being the culprit for all of the showers in the last few days, this area of low pressure, pulling out into the north sea. still close enough by, th

i'm sharanjit leyl in singapore. the headlines: cardinal george pell is to remain injail — australia's court of appeal dismisses the appeal against his conviction for sexually abusing children. italy's government in turmoil — the prime minister resigns, blaming deputy pm matteo salvini and his right—wing league party for the coalition‘s collapse. i'm rico hizon in london. also in the programme: we investigate claims of exploitation and abuse from migrant workers who came to japan under a government—sponsored scheme. and — fancy a trip into space? virgin galactic says they'll be issuing boarding passes as soon as next year. voiceover: live from our studios in singapore and london, this is bbc world news. it's newsday. it's 1:00am in london, 8:00am in singapore and 10:00am in melbourne, where the victorian court of appeal is delivering its ruling on the case of cardinal george pell, the most senior catholic found guilty of sexually abusing children. a jury found pell guilty last december of the sexual penetration of a

i'm sharanjit leyl in singapore. the headlines: president trump visits the sites of last weekend's mass shootings, as critics accuse him of stoking racial hatred. the us calls for calm and restraint over kashmir, as tensions between india and pakistan continue to escalate. i'm ben bland in london. also in the programme: canadian police believe they have found the bodies of two teenage fugitives suspected of three murders. and vodka, with a twist. we look at the first consumer product made from ingredients grown 00:00:49,192 --> 4294966103:13:29,430 inside the chernobyl exclusion zone. good morning. it is 8:00am in singapore, 1:00am in the morning in london and 6:00pm in texas, where president trump has been visiting the city of el paso, where a gunman shot dead 22 people in an apparent hate crime last weekend. he has met victims and medical staff affected by the attack, which targeted hispanic people. mr trump flew to texas from dayton, in ohio, the scene of another mass shooting in which nine people died. 0ur north

i'm sharanjit leyl, in singapore.lso in the programme: why wild boar are becoming a headache in the crowded city of hong kong sixteen—year—old climate change campaigner greta thunberg arrives in new york by boat, for a un summit on climate change. i want to thank everyone is so much, everyone who is here, and everyone who is involved in this climate fight because this is a fight across borders, across continents. live from our studios in singapore and london, this is bbc world news — it's newsday. it's 8am in singapore and 1am here in london where there's been fierce criticism from all sides of the announcement that britain's parliament will be suspended next month for more than four weeks. the decision, approved by the queen, means that members of parliament who want to prevent the united kingdom from leaving the european union withouta deal on the thirty—first of october, have even less time to try and do that. the prime minister, borisjohnson, insists his move is all about getting on with the country's future. our

i'm sharanjit leyl in singapore. the headlines: police in hong kong fire a warning shot as they battle with protesters in another weekend of violent skirmishes. what's extraordinary is that despite volley after volley of tear gas and rubber bullets, the protesters show no sign of backing down. the iranian foreign minister makes an unexpected appearance at the g7 summit in france, but there's little sign it's reduced tensions between iran and the us. i'm rico hizon in london. also in the programme: tens of thousands of rohingya refugees demand justice two years after fleeing myanmar‘s brutal military offensive. and adventurers with driving ambition, starting a four—month road trip from singapore to london. announcer: live from our studios in singapore and london. this is bbc world news. it's newsday. good morning. it's 8am in singapore, 1am in the morning in london and san in hong kong where protesters and police are recovering from another weekend of violent clashes. it's understood a police officer fired a warning s

i'm sharanjit leyl in singapore. the headlines: protests continue in hong kong. its leader warns the principal of one country, two systems is under threat. i'm mariko oi, live in hong kong, where a new day is just beginning, but it's not clear what will happen next in the stand—off between the governmetn and the demonstrators. north korea conducts its fourth weapons test in two weeks. reports say it's fired two unidentified projectiles into the sea. i'm ben bland in london. also in the programme: pakistan accuses india of playing a dangerous game after it strips the disputed region of kashmir of its special status. as the us mourns those who died in two mass shootings. president trump condemns extremism but stops short of announcing tighter gun controls. announcer: live from our studios in singapore and london. this is bbc world news. it's newsday. good morning. it's 7am in singapore, midnight in london and 7am in hong kong, where the residents are waking up after yet another day of widespread disruption. police arrested 82 protestors as tens of thousands of peop

and i'm sharanjit leyl in singapore.on. it's the notting hill carnival, billed as europe's biggest street party. a huge part of west london is awash with colour, costumes, bands and parades as hundreds of thousands of partygoers enjoy celebration of caribbean heritage in the capital. this figure is set to bring some pretty big changes in our weather. there are something cool on the way, something a bit more unsettled as well. but the weekend wrote a real burst of heat. summer temperatures got on the way up to 33 degrees just to the west of london. that heat drawn up from the new continent around this area of high pressure. the south—east of them and is affecting most parts of the british isles, it was a bit different and the rest though, the start to come in from the atlantic, a cooler source of air, that cooler than decay will make more inroads over the next couple of days, passive a boundless weather frontier, as will turn cooler, this, a big dangling weather front and that at the deck will bring cool airfrom all of we

i'm sharanjit leyl in singapore. i'm ben bland in london. time since mass shootings in texas and ohio killed 29 people. he said that hate had no place in the united states. and clashes continue in hong kong, with the government warning the city is on the verge of a dangerous situation. let's take a look at some front pages from around the world. the philippine daily inquirer has the latest details on a search—and—rescue operation after three ferries capsized in stormy seas on saturday. they report that 31 bodies have now been pulled from the waters off the coast of the guimaras and iloilo provinces, with three people still missing. 62 people have been rescued. to hong kong, and the south china morning post is looking ahead to today's strikes. they say that protest organisers will try to bring the city to a standstill by targeting public transport and key city roads. the post reports that more than 500,000 people across 20 business sectors are set to strike. and the front page of the japan times has a story about donald trump's stance on the

i'm sharanjit leyl, in singapore. the headlines: brazil's president says his government doesn't have the resources to fight the record number of wildfires raging across the amazon rainforest. france's president macron tells his british counterpart there can be no major changes to the brexit agreement. boris johnson remains optimistic. where there is a will, there is a way. let's work. i'm rico hizon, in london. also in the programme: the buses bangladesh hoped would repatriate hundreds of rohingya refugees, but nobody would get on board. and countdown to tokyo — as japan prepares to host the 2020 paralympics, we investigate just how accessible the city is for people with disabilities. ina in a year's time, this city will be hosting the pa ralympic in a year's time, this city will be hosting the paralympic games and not only are we seeing 4000 odd athletes arriving with all kinds of disabilities, there will also be disabled media and spectators. live from our studios in singapore and london, this is bbc world news — it

this i'm sharanjit leyl in singapore. the headlines: bolivia calls for co—operation to fight the wildfires raging through the amazon rainforest. we hear why indigenous people across the region fear for the future. opposition leaders in britain have pledged to work together to try to stop a no—deal brexit. i'm rico hizon in london. also in the programme. arrested twice in five weeks, but still defending freedom of speech in the phillippines. we hearfrom journalist maria ressa. for the generation growing up now, your battle will be the battle for truth. and tough new rules on selling baby elephants to zoos. but will they help protect one of africa's most endangered species? live from our studios in singapore and london, this is bbc world news. it's newsday. good morning. it's 7am in singapore, midnight in london and 8pm in bolivia, where president evo morales has welcomed what he called the "small" offer of financial aid from the g7 to help fight the fires in the amazon. the rainforest stretches across several south america

i'm sharanjit leyl in singapore. the headlines: eat less meat to help save the planet — a major un report says that altering our diets could help slow down global warming. the choice between broccoli and ribs on your plate actually has a real link to the level of global warming that we are likely to see. india's prime minister narendra modi says he revoked kashmir‘s autonomy to free it from terrorism and separatism. hello, i'm ben bland in london. also in the programme: us immigration officials release half of the people detained in a huge raid, in the state of mississippi. campaigners say they should all be freed. and we discover why hundreds of young people in india have turned their backs on the material world to become monks. live from our studios in singapore and london, this is bbc world news. it's news day. hello it's 8:00am in singapore 1:00am midnight in london, and we start with a warning from climate experts at the united nations. they say big changes to food production and eating habits are needed to limi

i'm sharanjit leyl in singapore.lso in the programme: thousands of people flee their homes as firefighters battle a wildfire blazing out—of—control on spain's canary islands. and, protecting the pangolin. could there be hope for one of the most trafficked mammals in asia? live from our studios in london and singapore. this is bbc world news, it's news day. glad you could join us. it's 7:00am in singapore and midnight here in london, where the uk government has announced that in the event of a no—deal brexit on october 31st, citizens of the european union would immediately lose their automatic right to live and work in the uk. under the previous government's plans freedom of movement would have continued for a limited period — but that's now changed. prime minister boris johnson reiterated again today that britain will be ready to leave the european union at the end of october, "deal or no deal." here's our political correspondent, ben wright. his government wants a new brexit deal, but is ramping up plans to leave th

and i'm sharanjit leyl in singapore.ing chinese yuan and why it is sending shutters through and across us and asian markets, the nick ayers down 3%. —— nikkei down 3%. and before we go, we'd like to leave you with these pictures. the anniversary of the first atomic bomb being dropped. and anniversary was held at here's memorial park. —— hiroshima's memorial park. the bombing claimed the lives of 1a0,000 people in the city. that's all for now. stay with bbc world news. hello. if you're in search of dry, settled, summer weather, well, i'm afraid you probably won't find it in this weather forecast. certainly not while low pressure is in charge, and that is what we have in the heart of this swirl of cloud that you can see on our earlier satellite picture. this area of low pressure is going to drift its way eastwards across the british isles over the next couple of days. it will provide very heavy, thundery downpours. there will always be some spells of sunshine in between. so, many eastern parts of england and eastern scotla

i'm sharanjit leyl in singapore. the headlines: the uk calls for an inquiry into the hong kong violence. china tells it to back off china has just china hasjust made it clear china has just made it clear it will not accept what it calls british meddling. under the influence of hong kong's one—time colonial power these days is very limited. compensation demands and conspiracy theories — the death of billionaire sex offenderjeffrey epstein provokes more outrage. i'm kasia madera in london. also in the programme, floods and landslides in southern india kill almost 150 people, with hundreds of thousands taking shelter in relief camps. and we'll bring you the story of the asian ice man, who's finding ways to indulge his passion at his kuala lumpur home. good morning. it's 8:00am in singapore, 1:00am in london, and also 8:00am in hong kong, where the territory has experienced a tenth successive weekend of clashes between pro—democracy protestors and riot police. tear gas was fired after two petrol bombs were thrown near th

let's go to our asia business hub where sharanjit leyl has the latest. ets? a change in the mood on markets, as you say, sally, and it has been called an early christmas present of sorts and is just the sort of thing people would be given for christmas, all included in that, toys, computer monitors, clothing, laptops. retailers will get a chance to stock up retailers will get a chance to stock up before the higher tariffs kick in mid december. us president donald trump himself acknowledged while speaking to reporters that the delay in these tariffs was in part to avoid hitting us shoppers this christmas is. the surprise news from the us trade representative sparked a huge rally on wall street and here in asia today where most markets are closing higher, but other items facing a 10% tariff will go ahead as planned on the 1st of september, making good on a promise from president trump at the start of the month that he would impose a 10% tariff on $300 billion of chinese goods. he is of course blaming china for not following through on promises to buy more a

i'm sharanjit leyl.battle wildfires blazing out—of—control on spain's canary islands. the blaze has burnt through 6,000 hectares of land. and protecting the

i'm sharanjit leyl in singapore.ustralia's court of appeal dismisses the appeal against his conviction for sexually abusing children. italy's government in turmoil — the prime minister resigns, blaming deputy pm matteo salvini and his right—wing league party for the coalition‘s collapse. i'm rico hizon in london. also in the programme: we investigate claims of exploitation and abuse from migrant workers who came to japan under a government—sponsored scheme. and — fancy a trip into space? virgin galactic says they'll be issuing boarding passes as soon

sharanjit leyl is in our asia business hub in singapore with the details.y gave investors something to cheer about with unexpected growth in its video streaming service in the second quarter, this even though its net profit actually tumbled over 60% in the quarter. revenue only grew about 196 the quarter. revenue only grew about i% from the previous year. the fact that its bottom line was more than twice as much as forecast by a nalysts twice as much as forecast by analysts is the reason why its shares were surging as much as 9% in after—hours trade. its main search business, we know, is hurting, as is the ad business. the outlook for advertising is weak but the outlook for streaming services has managed to offset all of that by surpassing 100 million subscribers. there was also some evidence of growth in its mobile sector. users of its smartphone app rising about 27% from the previous year, 188 million subscribers there, and baidu‘s a nswer to subscribers there, and baidu‘s answer to amazon‘s alexa smart speaker system is installed in five times more devic

sharanjit leyl has more for us from singapore.serious losses, but there seems to have been a recovery. that's right, a bit of a recovery, but still in the red. this is despite the fact that the chinese central bank can set the midpoint rate at a slightly higher point than yesterday, suggesting the markets recovered a bit. it is possibly a hint that the chinese don't want their currency to weaken that much. we know that the people's bank of china, each day essentially they set a rate for the yuan, allowing it to trade within a band against the dollar. they have allowed that to slide below what has been a psychological redline, a key seven yuan to the dollar level, it is the first time it has been that low since 2008. there has always been offshore chinese currency used by investors and banks, which fell to a record 7.09 against the dollar. and that move by the us treasury to label china currency manipulator has not helped, as it is the first time they have been given that label since the 1990s, when china was also the target. the u

i'm sharanjit leyl. we start with the markets and it is a mixed picture here in asia.an's nick ayers opened and australian stocks are currently flat stop —— japan's nikkei, not taking cues from us stocks which opened up overnight. and the yuan is now at a slightly higher rate to the us dollar, after sliding beneath the us dollar for the first time in ten years. a lot of a nalysts the first time in ten years. a lot of analysts are citing a lot of uncertainty in the market regarding the us—china trade war. this was the recovery was telling you about on wall street, a much better day after wall street, a much better day after wall street, a much better day after wall street essentially suffered its worst day of the year on monday, so it is picking up from there. margaret young from cmc market explains the seesaw in global markets this week. this help alleviate investors‘ concern of an escalation of this trade war into a currency war. and i think china‘s policy makers showed they are willing to come back to the negotiation table with president trump if he is willing to rem

hello and welcome to this monday edition of asia business report, i am sharanjit leyl. we start with hong kong, because the city has seen its 10th weekend of demonstrations in a row. 0n city has seen its 10th weekend of demonstrations in a row. on sunday night police fired tear gas into a subway station after clashes with protesters continued. we are starting to see businesses having to choose between staff's right to protest a nd choose between staff's right to protest and not upsetting beijing, because hong kong's flagship carrier cathay pacific fired two airport employees over the weekend and suspended a pilot for conducting anti—government protests. i asked a hong kong—based lawyer what can the hong kong—based lawyer what can the hong kong—based lawyer what can the hong kong government in beijing do to ease the tensions? the hong kong government have created this mess and as it spiralled out of control beijing seemed to have stepped in with a plan. that plan seems to have two prongs. firstly very aggressively policing the protests which we saw over this past weekend

i'm sharanjit leyl in singapore.e hong kong violence. china tells it to back off. china has just china hasjust made it clear china has just made it clear it will not accept what it calls" british meddling", and the influence of hong kong's on—time colonial power these daysis kong's on—time colonial power these days is very limited. compensation demands and conspiracy theories — the death of billionaire sex offenderjeffrey epstein provokes more outrage. i'm kasia madera in london. also in the programme: at least 32 dead as typhoon lekima hits eastern china. rescuers are still searching for other victims. and we'll bring you the story of the asian ice man, who's finding ways to indulge his passion at his kuala lumpur home.

hello and welcome to asia business report, i'm sharanjit leyl.start with the trade war because stock markets in asia have slumped and the japanese yen has jumped as the conflict that wean the us and china intensifies. let's look at the markets now, because the futures we re markets now, because the futures were pointing to a lower open and true enough japan's nikkei were pointing to a lower open and true enouthapan‘s nikkei is down 2.596 true enouthapan‘s nikkei is down 2.5% and the all ordinaries down as well. the japanese yen is rising, a safe haven in volatile times like this, and the hang seng opens later. that comes after washington raise levies on friday on imports after beijing revealed plans to increase us duties. chris buckler reports from washington. president donald trump left washington for france having fired off the latest shots in this trade warand off the latest shots in this trade war and when he arrived at the g7 summit he was asked by reporters if he had any regrets in taking that decision to raise tariffs on chinese goods by 5

hello and welcome to asia business report, i'm sharanjit leyl.ith the us, because the federal reserve has cut its main interest rate for the first time since the financial crisis. the 0.25% cut had been widely expected by investors, but as michelle fleury is reporting, you can see how the markets reacted, you can see investors expressing their disappointment and donald trump also expressing his disappointment after chairmanjerome expressing his disappointment after chairman jerome powell called expressing his disappointment after chairmanjerome powell called the move a midcycle adjustment rather than a turning point in the central bank policy. the last time the us federal reserve cut interest rates, the american economy was in the depths of its worst recession since the 1930s and now it's enjoying its longest period of uninterrupted growth. nevertheless, the federal reserve thinks it's necessary to cut interest rates. in explaining what was seen interest rates. in explaining what was seen as a interest rates. in explaining what was seen as a prec

i'm sharanjit leyl. we'll begin with huawei. the us has its ban on the company for another 90 days. blacklisted the company in may, citing security concerns. it then granted a temporary permit. that was due to expire on monday. well, everybody's had plenty of notice, there's been discussions with the president and the president has made clear in his announcements yesterday that he is very concerned about more dealings with huawei. mr ross also said another 46 huawei affiliates would be added to the us entity list. huawei said it was opposed to the decision and felt it was politically motivated. earlier i asked brock silvers from a private investment firm why the extension was granted. the extension is a bit difficult to explain, i think. the extension is a bit difficult to explain, ithink. look, the us the extension is a bit difficult to explain, i think. look, the us is trying to make it easierfor compliance for us companies, but thatis compliance for us companies, but that is sort of flying in the face of calling huawei a national security issue. if it really does represent a nati

sharanjit leyl is in singapore. bring us up to date?ually been very little reaction to brexit here in asia on the markets, as there was on wall street, where the markets actually rose following the day's proceedings in the uk. while the uncertainty and unpredictability of brexit does cast a cloud, asian markets have been sinking for other reasons, with investors growing increasingly pessimistic about the outlook for us—china trade talks. the pound remains under pressure here and the remaining trade, of course that comes remaining trade, of course that co m es after remaining trade, of course that comes after prime minister boris johnson forced that extended suspension of parliament. even though it might not be reflected, in the markets today, global investors with interests in the uk are nervous, and they continue to watch the proceedings there. a banker i spoke to elia said the important thing for investors to take note of when it comes to brexit is some semblance of brexit being achieved, some decision being made, so that businesses c

hello and welcome to asia business report, i'm sharanjit leyl.s treasury has formally labelled china a currency manipulator and its accusing beijing of weakening its currency, the yuan, as the trade war escalates. as a result of the move, treasury secretary steve mnuchin will engage the imf to eliminate what it calls unfair competitive advantages created by china's actions. on monday, china allowed its currency to full to the weakest levels against the dollar in about a decade, following this twitter outburst from donald trump. let's look at the impact on markets in asia, which are kicking off trading on tuesday. state falls for the nikkei 225 injapan, essentially due to the fact the japanese yen is so due to the fact the japanese yen is so strong. it is seen as a safe haven but it really impacts japan's exporters, so huge losses there and australian markets lower. they're taking their cues from wall street, where, of course, we know the dollar is trading lower. gold prices spiking to another six year high essentially due to the fact that gold is

i'm sharanjit leyl in singapore, our top stories: two mass shootings in america within hours.l paso, texas — opening fire on shoppers in a busy store. 13 hours later, a man is shot dead by police after killing 9 people, including his sister, in a bar in dayton, ohio. these are two incredible places. we love the people. hate has no place in our country. i'm ben bland in london — also in the programme. clashes continue in hong kong —

let's go to our asia business hub, where sharanjit leyl is has been following the ups and downs, but equity markets thinking, the chinese yuan hitting an 11 year low, this after donald trump ramped up tariffs on $500 billion worth of chinese imports. it is the latest salvo in the us china trade war. he also called for american companies to pull out of the largest economy in asia after china said it would impose retaliatory tariffs on us goods. this flight from risky centres to safe haven saw some assets rising. the likes of gold, for instance, jumped to a six year high per ounce, while the japanese yen, also considered a safe haven, was at its strongest level since the end of 2016 earlier today. however, sentiment hasn't somewhat improved. that is after the chinese vice premier reportedly said in chinese media but the country is willing to resolve the trade disputes through dialogues, with a calm attitude. —— said that the country. we have seen the yuan edging back from its lows, and this latest turn in a trade war comes during an already very tumultuous month the financial markets.

and welcome to asia business report, iam sharanjit and welcome to asia business report, i am sharanjit leylwe start with china, because later this morning we will get more evidence of how the trade war with the us is impacting the world's second—largest economy. the country's july the world's second—largest economy. the country'sjuly exports are expected to have declined by 2%, year earlier, falling for the second month in a row. at the same time, imports forecasts have contracted more than 8%. today's data comes after a week in which both the us and china stepped up the trade war. last friday the trump administration said it would impose 10% tariffs on another $300 billion worth of chinese imports, and in response, beijing confirmed on monday that chinese companies had stopped purchases of american agricultural products. the same day, the chinese currency breached the key seven per dollar level for the first time in more than a decade. the next day the us further increased tensions by labelling beijing a currency manipulatorfor the labelling beijing a currency manipulator for the first tim

i'm sharanjit leyl in singapore.pain's canary islands. and, protecting the pangolin. could there be hope for one of the most trafficked mammals in asia? live from our

i'm sharanjit leyl, in singapore.