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tv   Asia Business Report  BBC News  January 23, 2019 1:30am-1:46am GMT

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plane went missing on the way to the uk will be found alive. emiliano sala had just signed for cardiff city. the club's malaysian owners say they're very shocked at the news and their thoughts are with his family. the partial us government shutdown has gone into a second month, with no signs of republicans and democrats breaking the deadlock. some unpaid federal workers have been forced to turn to foodbanks. and the oscar nominations have been announced in hollywood. netflix has scored its first nomination for the spanish language film, roma, which is up for ten awards. the period drama, the favourite, is also up for ten, including best actress for its star olivia coleman. that's all. stay with bbc world news. and the top story in the uk: the latest brexit development —
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island's leo va radkar suggested the latest brexit development — island's leo varadkar suggested if the uk leave the eu without a formal deal they will have to work out a separate arrangement to protect trade under the peace process. more from me later, but first here is rico. the china syndrome — asian stock markets fall on wall street down on deepening concerns over the impact of the trade war between the biggest economies. shut down the milestone — the deadlock over reopening the us government hits the one—month mark with no signs of a resolution. good morning, asia. hello, world. it is wednesday. i am glad you canjoin us for this midweek edition of asia business report. we start with the asian stock markets, currently in mid—morning trade they are in the red after wall street fell on
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growing concerns about the negative impact of the us— china trade war. pessimism triggered by the slowing chinese economy was compounded with donald trump's economic adviser who was forced to deny reports that us officials cancelled trade talks with their chinese counterparts. let's look at the nikkei 225, down 0.5% and the all ordinaries is losing 0.3%. as for the us, they had deeper losses with the dow down 1.2%, the snp down1.4% and losses with the dow down 1.2%, the snp down 1.4% and the nasdaq was in the red by 1.9%. michelle fleury ran me through the events in new york. three words for you, global economic slowdown. those fears resurfaced and soured the mood on wall street on what was the first trading day here as us markets were shut for a public holiday on monday. we have those gloomy forecast from the international monetary fund, couple
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it with weak data out of china and it with weak data out of china and it set the tone for the day, the dow as you mention fell more than 300 points, led by losses in companies like caterpillar, the three main indices were all down, in fact, the biggest one—day percentage drop since the third of january. now you also have a lot of companies coming out with earnings. that didn't seem to change the negative mood among traders and the losses really picked up traders and the losses really picked up steam late in the day, late in the trading day, after the financial times reported that the trump administration turned down an offer to hold appropriate treat trade talks with china. that really then accelerated the sell—off —— preperatory. use or the economic official larry cutler saying the story was untrue. —— you saw. there we re story was untrue. —— you saw. there were no meetings planned. the question with all of this and we have seen going back and forth in the day, is that there is a lot of
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preparation that goes on behind the scenes. some of those meetings are not going to take place even if those us senior officials were never going to meet with their chinese counterparts. michelle fleury there in new york. the white house has signalled that donald trump is still planning to go ahead with next week's state of the union address despite the house speaker nancy pelosi strongly urging the president to delay the speech due to the government shut down. and this all comes as the deadlock has passed the one—month mark. while it is now the longer shut down in us history, cutting off funding for about a quarter of the federal government, leaving some 800,000 employees without pay. economists estimate the shutdown will shave off a small percentage of economic growth per week, in dollar terms it is costing the us economy just week, in dollar terms it is costing the us economyjust over $1 billion each week. the shutdown continues. the motley fool told me why they think the president can end the
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deadlock. i think the ball is in donald trump's court because donald trump has decided to tie he is wall to the budget and he has made this pl between mexico and america plank of his presidency. he sees that as a simple —— this wall. he doesn't want to give way to the wall. he wanted to give way to the wall. he wanted to be built. he said mexico will pay for the wall. i don't think they will pay for the wall. he has to find the money from somewhere else and he says the american budget. with the shut down our one—month long, will this impact retailers and the us economy in the first quarter of the year? i think so, if you're a government work and you're not being paid, you don't have any money to spend, and so therefore if you don't have any money to spend the retailer will be affected, if the retailer is affected, he doesn't buy from the wholesaler, and if the wholesaler doesn't move his goods he doesn't buy from the manufacturer, the manufacturer doesn't buy from the importers and so therefore everybody is affected, it is a chain effect.
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in these manufacturers of these importers are here in asia, bangladesh, china, india, the philippines, thailand. will it have a knock—on effect on our economies? it is bound to have a knock—on effect. you cannot have things in isolation. this is one thing i think that the trump presidency seems to have missed, that is that the whole world is interconnected now. early on you were talking about the impact on you were talking about the impact on china, the slowdown in china. china is connected to the rest of the world. america is connected to the world. america is connected to the rest of the world. you can't live in a silo and say i am not going to honour whatever happens to me, won't affect anyone else. it doesn't work like that. we have about 30 seconds. the chinese slowdown, the us economic shutdown, will this mean slower growth for asia this year? i think so and i think the imf has already indicated that. i think really what is being affected is confident. if businesses don't have confidence, if consumers don't have confidence, if consumers don't have confidence, it will
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impact the economy. the world economic forum in davos, the biggest names in global business what about the impact of the us— china trade war and the partial shutdown of the us government. the microsoft president brad smith told sally bundock how he sees trump's decision. i think it is unusual, sally bundock how he sees trump's decision. ithink it is unusual, it is not the action us government have taken. as with a lot of different things we will see how it turns out. we won't know until the movie is over whether the plot made sense. how do you feel this impasse is being handled between the republicans and the democrats on money for the wall? i mean, 800,000 federal employees have had pay for a long time. is it notjust embarrassing? it is embarrassing. as an american, we need a government thatis an american, we need a government that is open. for many years in the us we have called and talked about
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having a government that work. i think now wejust having a government that work. i think now we just want a government thatis think now we just want a government that is open. we need people to be paid. these are the people who are responsible for keeping our airport said, for ensuring that new products are approved to go to the market, for fundamentally supporting society asa for fundamentally supporting society as a whole. it takes two to reach an agreement. what is it say about leadership in capitol hill?m agreement. what is it say about leadership in capitol hill? it is not where we hope you should be is the short answer. across the business community certainly in the tech sector, but i think across the country, we are all hoping we will see an agreement emerged sooner rather than later and people will get paid and people who are home will get back to work. microsoft president brad smith speaking with my colleague sally bundock at the world economic forum in davos, switzerland. shifting attention to developments in india and google has announced it will be introducing an india specific political advertising transparency report and sea rchable
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political advertising transparency report and searchable political ads library before the elections due by may. let's cross over to business reporter in delhi, the bbc‘s devina gupta. will this initiative ensure transparency? well that's the hope, rico, because we are 100 day from a general election in the world's biggest democracy and transparency on digital platforms has been a big concern, because the majority of voters are exposed to digital media on the one way or another, so we have about 850 million estimated voters who will cast their vote in almost 50 —— and almost 50% of them are online. that is why google is now trying to ensure that it will give details on who is paying for political advertisements, it will label them as political advertisements, and it won certification from the election commission of india to ensure that it is not trying to influence a political party or doesn't get into
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that kind of domain that we have seen other tech giants accused. similarly we have seen twitter coming out with a dashboard of expenditure done on political ads by political parties, that will go live inafew political parties, that will go live in a few months. and facebook interestingly has also said that this time around it will ensure that it will come out with details on who is paying for political ads and make it more transparent, and as we head towards elections, these are small steps that could perhaps regulate the unregulated environment of the online world. all right, this google initiative with india will be going live this march. thank you so much for that update from delhi, colleague and business reporter devina gupta. let's now look at other news making headlines, the chairman of chinese technology giant huawei has warned that his company could shift away from western countries if it continues to face restrictions. huawei has been under scrutiny by
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western governments, which fear its products could be used for spying. speaking at the world economic forum in davos, he said his firm might tra nsfer in davos, he said his firm might transfer technology to countries, "where we are welcome". british electrical appliance manufacturer dysonis electrical appliance manufacturer dyson is moving headquarters from the uk to singapore, the decision criticised as the company's founder sirjames dyson is a prominent brexit supporter who called for the uk to walk away from the eu without a deal. and that's it for this edition of asia business report. thank you so much for investing your time with us. i'm rico hizon. sport todayis time with us. i'm rico hizon. sport today is coming up next. this is bbc news. the top stories this hour: the malaysian owners of the premier league club cardiff city say they're very shocked after a plane carrying their new signing emiliano sala to the uk went missing. and the us government shutdown has gone into a second month, with some unpaid federal workers now forced to turn to foodbanks. 0nline abuse of people
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with disabilities should be made qm are currently not being appropriately punished. thei treportfollows aepetitioa katie price, who has a disabled son. 0ur correspondent jon donnison reports. katy price, whose16—year—old son harvey has a disability, says he suffered a shocking level of abuse on social media. people know when you cross the line and that is what something needs to be done. i mean i couldn't even say on here now what things have been said about harvey. it is absolutely atrocious and people shouldn't get away with it. the thing is if someone said it live you would get in trouble. just because it's online written down people don't seem to take it seriously. the petition submitted in 2017 attracted more than 220,000
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signatures from people calling for such abuse to be made a specific criminal offence. that led to a parliamentary committee of cross— party m ps parliamentary committee of cross—party mps being set up to which katy price gave evidence. you can have your point of view about things, but there is a point and this i think is at the next discussion if hopefully it will get through, we sit down and draw a line, when does it become a criminal offence? now in its report the committee is backing the reality tv sta r‘s committee is backing the reality tv star's all for the was to be changed. we found that disabled people were often let down by the system when they tried to report abuse, and we recommend that, in future, targeting someone because of their disability should be put on a par with targeting someone because of their race. the parliamentary committee also called for a register of offenders to be set up after hearing evidence from google, twitter and facebook, it concluded
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self—regulation had failed disabled people and that too many had been driven social media while there are abuses remained on check. —— unchecked. today under the # ha rvey‘s unchecked. today under the # harvey's law katie price tweeted that she was very pleased parliament was taking the issue so seriously but she said she wouldn't stop until such abuse was made a crime. the met office has issued a yellow warning for most of the uk, as snow fell over much of the country. travellers have faced disruption, particularly in scotland, with some roads closed and flights delayed due to icy conditions. the met office says the warning will remain in place until late wednesday morning. take care out there. more of course on the bbc news website for the latest forecast. that's it from me. my latest forecast. that's it from me. my kizhi in 15 minutes. first, sport today. see you soon. —— mike is here in15 today. see you soon. —— mike is here in 15 minutes. hello, i'm chetan pathak and this is sport today,
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live from the bbc sport centre. coming up on this programme: police say they've found no trace of the light aircraft, which was carrying former nantes striker emiliano sala, as his new club cardiff speak of their shock. qatar score a stunner as they beat iraq to reach the asian cup quarterfinals. chasing grand slam number 15, the world number one novak djokovic prepares for his australian open quarter final against japan's kei nishikori. welcome to the programme, thanks forjoining us. guernsey police say there's no trace of the light aircraft which was carrying the argentine footballer emiliano sala. it went missing on monday night whilst making it's way from nantes in france to cardiff in wales.

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