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tv   Asia Business Report  BBC News  December 20, 2016 1:30am-1:46am GMT

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i'm kasia madera with bbc news. our top story: a truck has been driven into a christmas market in berlin. 12 people were killed and many more injured. police have arrested the apparent driver of the truck who'd earlier fled the scene and whose nationality is not known. russia's ambassador to turkey, andrey karlov, has been shot dead by an off—duty police officer. russian officials have described it as an act of terror. and this story is popular on bbc.com. the us electoral college has cleared the way for donald trump to become the next american president. they ignored a five—million—signature petition urging them to defy tradition and choose mrs clinton, who received more than two million more votes than mr trump. that's all from me for now. stay with bbc news. and the top story here in the uk: an inmate has admitted breaking out of pentonville prison in north london last month. james whitlock was on the run for a week before police found him. he'll be sentenced in the new year. now on bbc news, all the latest business news live from singapore. uber hits a roadblock in taiwan.
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what does this mean for the future of this ridesharing application in asia and what has rocked the luxury housing industry in the us? good morning, asia. hello, world. glad you could join us for this tuesday edition of asia business report. uber is planning a new move after it was banned in taiwan. this is not the first time the firm has faced resista nce the first time the firm has faced resistance from local governments. from london to jakarta taxi drivers have gone on strike saying that uber‘s business model is not safe and has unfair competition. it needs to be signed into law. here is a
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response from their regional manager. we will cross that bridge when we get to it. at the moment we are working very hard to educate and communicate with the president in taiwan to make sure she knows that more than a million people in taiwan have downloaded the uber app. and they will be the ones who suffer if uber is not allowed. is this not just a formality? it has already been passed by the regulatory body and has been signed by the president. uber is something new. because it is innovative we have beenin because it is innovative we have been in sticky spots all over the world. we are good at getting past. we just want to sit down at the table with the taiwanese government to come up with new regulation to allow ridesharing applications. you are right because you always push the envelope in terms of rules and
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regulations. uber's technology is new. it has never existed before the cosby smartphone wasn't around before. —— because the. we need to work with the government to educate them about why new regulations are required in taiwan. if the president does not veto this law and it is signed, does this mean we will not see uber on the roads? you will abide by the law? like i said, we will cross that bridge when it comes. what i can say is today more than 10,000 taiwanese citizens rely on uber to make money. whether it is mothers needing flexible work because their children are at school 01’ because their children are at school or people who are caring for their families at hospital, uber provides flexible work. so we want to fight like heck to make sure they can continue to make money from uber. apart from taiwan, you are in many
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countries, more than a dozen in the asia—pacific region. where are you profitable? we don't give out information about profitability yet because we are still a privately held company so i am not at discretion. but we are growing like an weed across all of the asia—pacific. clearly we have something consumers love. micheal from uber in the asia—pacific. in other business news making headlines in india, the boardroom battle is overfor in india, the boardroom battle is over for now. the former tata chairman had resigned from the board of old tata group listed companies. he has vowed to push for better corporate governance. his resignation comes ahead of several meetings at qatar steel and tata motors to remove him from their boards. —— tata steel. christine lagarde has been found guilty over negligence over a huge compensation payment made eight years ago when
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she was the french finance minister. christine lagarde always denied wrongdoing. the court has decided not to hand down any punishment. thousands of passengers around the world for virgin could come to a halt. grounded workers are threatening industrial action starting friday in a dispute over pgy- starting friday in a dispute over pay. this comes ahead of the peak travel season with christmas and new year's just around the corner. when i spoke to the man who is their spokesman, i asked i spoke to the man who is their spokesman, iasked him how i spoke to the man who is their spokesman, i asked him how would this impacts travellers around asia? it would have a major impact. but with british airways, you are looking at12— with british airways, you are looking at 12— 15% of the workforce looking at 12— 15% of the workforce looking to go on strike. still, they could create inconvenience and issues for the error line and the network. —— airline. that would affect places like japan where they
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have a joint operation with japan airlines. the other one is virgin. it is not an absolute strike but they will follow the contract specifically and provide no flexibility. that could create disruptions. disruptions and inconvenience. this is something like travellers that you and i don't want. what are these airlines such as ba and virgin atlantic being squeezed financially? it is a big struggle in the global aviation industry to keep costs low. they are squeezed on the european side by low—cost carriers like ryanair who are good at keeping costss though. the major costs for airlines is cabin crew. fuel is an equal thing for all airlines depending on their hedging. one area you can try to cut costis hedging. one area you can try to cut cost is cabin crew. how are they
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trying to cut costs on terms of cabin crew? like mentioned, the middle eastern airlines are good at adapting to this. cutting things like benefits and allowances and the amount of money you can actually earned working for the airline. people like emirates and others in the asia—pacific, their cabin crew are paid less. that is the nature of that part of the world. so for european and us carriers, it is difficult to manage pay expectations of the crew. what about hedging on jet fuel costs? we have seen it come down significantly in the past two yea rs down significantly in the past two years from $100 to 40— $50. down significantly in the past two years from $100 to 40- $50.m down significantly in the past two years from $100 to 40- $50. it makes it easy to make money as an airline on its own but everyone is benefiting. some carriers have good ability to make money from it but
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others lose money from low cost oil. it affects everyone fairly evenly. greg from flight global. chinese government researches say that the yuanis government researches say that the yuan is expected to weaken another 3- 5% yuan is expected to weaken another 3- 596 in yuan is expected to weaken another 3- 5% in 2017. that is yuan is expected to weaken another 3— 5% in 2017. that is on top of the 6.5% drop the sea. combined with the restrictions of sending money overseas, it could impact the us. we have asked a person that chinese wealth has that per cent of his business is the pillar it dipped this year and the reason has been multifaceted. it has been quite difficult. recently we have had many deals that were not made because they could not get the money out. also, the chinese economy took a hit
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last year and this year as well. it is twofold. was there any nervousness in the market ahead of the us election? there was a lot of nervousness ahead of the election. people were nervous about where we we re people were nervous about where we were calling. and i think that made it questionable for people. —— going. the markets were slow prior to the election. it was interesting, right after the election, many people moved forward from all over the globe. are there any signs about what a donald trump presidency will mean for real estate? donald trump has something that will help in benefiting the real estate market. he intends to lower taxation for the wealthy which really does help in making wealthy people... they want to continue to invest in high—level properties. and there will be a trickle—down effect. donald trump is a real estate guru. that is something special to him in his heart. and i think he will make sure
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that real estate is very secure moving forward. does the great firewall of china have an impact?m is one of the challenges in dealing with the chinese market. that wall is difficult to break. so in general, when you have international buyers, it is easy for them to google and do their own research. but with the chinese we have to work differently and we do a lot of phone conversations and e—mails and work ina conversations and e—mails and work in a different manner to get beyond that. aaron. he specialises in the luxury real estate market. he was speaking to the bbc. and now for a quick look at the markets. as you can see right now, a mixed bag for the asia—pacific markets. thin trading ahead of the christmas holiday season. this is after us stocks finished modestly higher overnight. the nasdaq composite indexis overnight. the nasdaq composite index is continuing to be in positive territory led by disney
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following a strong opening weekend performance of its latest star wars movie franchise, rogue one. as for the us dollar, crawling back into positive territory. it has improved to its strongest in nearly a decade. thank you so much for investing your time with us. i am rico hizon. sport todayis time with us. i am rico hizon. sport today is up next. hello. you are watching bbc news. i am kasia madera. a truck has killed 12 people after it was driven into the crowds ofa after it was driven into the crowds of a christmas market in berlin. german police say the apparent driver of the vehicle is under arrest. the passenger was killed. we have lots more on our website. now for other news. a convicted paedophile has become the oldest person in britain to receive a prison sentence. ralph clarke is 101 years old, and last week, he was found guilty of carrying out a string of sexual offences against young children
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in the 1970's and 80's. today, he was sentenced to 13 years in prison. from birmingham crown court, phil mackie reports. on the surface, he is a frail, old man. but ralph clarke was a serial sex offender who abused three young children a0 years ago. after suffering in silence for decades, last year they found the courage to tell the police, to come to court, to face the man who abused them. he has damaged so many lives. so many lives in such a massive way. and he has no remorse. even now he cannot see he has done anything wrong. he is evil. and he deserves to be in prison. he deserves to die in prison. he deserves to die in prison. he deserves to die in prison. he deserves to rot in hell. they are happy. to be honest, we
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have a thank you card here. all it says is we are so happy to be believed. that is all they wanted. ralph clarke never showed any remorse. he shook his head in court when his crimes were detailed. there we re when his crimes were detailed. there were tears as his victims saw him one last time. ralph clarke and his fear and control over his victims took advantage of them and the young age and the situation in order to carry out his offences. the judge said even though it was a deeply upsetting experience for the victims, this sent a message. does it sexually abused, even in the distant past, can rest assured that any complaint will be treated with sympathy and compassion. the victims i spoke to after the court hearing said they were glad he went to jail. he should have been imprisoned a0 yea rs
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he should have been imprisoned a0 years ago. people like him should never come out. never come out. we have been in our own prison for the la st have been in our own prison for the last 40 years. ralph clarke cannot be released on licence until he has served half his sentence when he will be 108. so it is likely the man who abused three little children for decades ago will die in jail, the old est decades ago will die in jail, the oldest man ever sent to prison. bbc news, birmingham crown court. hello, this is sport today, live from the bbc sport centre. coming up on this programme: late drama as sadio mane scores in the 9ath minute to hand liverpool a 1—0 win over everton. karun nair writes his name into the history books with a triple century as india take control of the fifth and final
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test against england. and mo farah says he wants to master the marathon when he steps off the running track. hello and welcome to the programme, where we start with news from the english premier league where the merseyside derby between everton and liverpool finished with late drama on monday. liverpool's sadio mane scored in the 9ath minute to hand jurgen klopp's side a 1—0 victory taking them second six points behind leaders chelsea. everton's ross barkley was arguably lucky not to be given a red card for his second half challenge onjordan henderson but it mattered

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