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tv   Asia Business Report  BBC News  May 3, 2017 1:30am-1:46am BST

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between britain and the european union. following leaked reports of a very difficult meeting with european commission president jean—claude juncker — british prime minister theresa may has signalled the road ahead could be bumpy. in a phone call — donald trump and vladimir putin have discussed how they could work together on problems ranging from north korea to syria. they agreed to try to meet at the 620 summit injuly. and this video is trending on bbc.com — it could almost be the plot of a hollywood film — a surfer stranded at sea off the scottish coast in freezing waters and a life—saving rescue operation. this is the dramatic rescue — the surfer survived 30 hours with nothing but his board. that's all from me for now. stay with bbc news. and the top story here in the uk: a man from cardiff has beenjailed for eight years for creating an online library for followers of the islamic state group. samata ullah stored is propaganda on memory sticks disguised as cufflinks.
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now on bbc news, all the latest business news live from singapore. apple shares have lowered after the company posted a disappointing iphone sales. and training for the jobs of the future. how singapore hopes to give its students an edge in the age of globalisation. good morning asia and hello world. thank you forjoining us for this edition of asia business report. we begin with apple and its share price falling overnight about 2% after the world's most valuable company reported a fall when i fall in sales. they sold 50.8 million units
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in its second quarter, that is down 196 in its second quarter, that is down i% compared to the same quarter last year. it still posted revenues of around 53 million dollars us during the january to march period. i spoke to our correspondent earlier and askedif to our correspondent earlier and asked if customers were waiting for the next iphone model to be released. potentially. the new model coming up later this year or, perhaps it could be delayed which would be troubling for some users. theiphone would be troubling for some users. the iphone sales so far this year may have been down of physical numbers, the south have been down but the revenue has gone up, because more people are purchasing the iphone 7 plus, a bigger and more expensive version. sales are robust is the phrase that the ceo used that any wavering on the success of the iphone does drag the stock price down so it is down around 2% at the moment. what this does is pylon
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pressure for apple for later in the year. it is the 10th anniversary iphone coming up and people expect big changes. there could be a delay because of those changes, if there isa because of those changes, if there is a drastic new direction for the phone but unless apple delivers strongly on what people have, on their high hopes, it could be troubling so that is why investors have been worried. despite sales being down to the iphone or all there is still rather cash rich. yes, very cash rich. we found out today that they have $250 billion in cash held overseas. that is a huge amountand cash held overseas. that is a huge amount and the company is spending some of that cash in rewarding shareholders but they are also under pressure to repatriate that cash into the us to make acquisitions. if they do that, they will need a tax
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cut in the us because right now the cost of bringing that money back into the country is high. they hope, along with several other technology companies, the donald trump make give them a tax holidays that money can come back into the country. they have a good growth across the world with the exception of one place, china. they had a drop of 14% on sales year on year which is quite troubling because it was not so long ago when we were talking about china being the major source of growth for apple and the fact that it has panned out quite a way that any of us panned out quite a way that any of us expected will be travelling for apple despite the world, the world in the region experiencing a revenue growth. —— will be troubling for apple. 10,000 workers will be hired in north america over the next nine yea rs. in north america over the next nine years. many indian firms faced criticism in the us for flying years. many indian firms faced criticism in the us forflying in
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law paid workers onto every visas. many rely heavily on a visa that donald trump has asked to be reviewed. liberty castle at 300 uk jobs this year. the steel sector is emerging from a crisis that saw around 5000 jobs axed over the last few years. liberty house's speciality steel unit is one of the biggest suppliers to the aerospace oi’ biggest suppliers to the aerospace or industry which with customers like boeing and rolls—royce. us airlines have been threatened with legislation to improve customer service after a passenger was pulled down the aisle of a flight last month. united airlines has reached a settle m e nt month. united airlines has reached a settlement with the paddle, a passenger. at a congressional hearing, the chief executive officer apologised to the incident. here is what he had to say. the safety or
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security as an issue we will never again aska security as an issue we will never again ask a customer to give up their seat once they are on board. simple common sense. the biggest lender in singapore reports a 1% increase in profits which may reflect a slightly cooler economic growth in the citystate. so how are they doing? as part of our two minutes with serious, we asked the bank's chief executive about the prospects and challenges in the coming year. southeast asia's largest bank has reported a 1% rise in net profit from last year. i'm joined now by the chief executive. i have two minutes with you starting now. a 1% rise in profit? that is flat. we got that 1% despite net interest margin being almost ten business points lower. despite having a particularly weak trading
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quarter. we are quite pleased, actually, with a performance. you said, however, there are headwinds in the oiland said, however, there are headwinds in the oil and gas sector. will they continue? it will be challenged as long as oil prices remain between 50 and 60i long as oil prices remain between 50 and 60 i do not see a lot of new investment going in. there is likely to be consolidation. the good news is we took most of our pain last year and therefore we expect the new non—performing loans to be much smaller this year than last year. and like we, we will see some much less tha n and like we, we will see some much less than we did last year. the bread—and—butter of most banks is loa ns. loa n bread—and—butter of most banks is loans. loan growth looks challenging in this region. how do you expect that to build? we should be a ba g u ette that to build? we should be a baguette mid singledigit loan growth. trade has been in the first quarter. asian exports have been up 16%. many of our clients, including the chinese ones are expanding internationally and that gives us a
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good opportunity to finance them as well. in terms of executive pay, last year, as you said was a tough year. you cut executive pay by around 13%. when will that be reinstated? we value performance at the end of the year so the answer is to that will come in december.‘ rise in protectionism globally and concerns about growth. how are you predicting the next year ‘s management has been great and it will be an engine for growth. so will be an engine for growth. so will cash management. diversifying into indonesia and south east asia is all looking up. thank you so much for joining is all looking up. thank you so much forjoining us. millions of workers around the world are at risk of losing theirjobs to robots. a recent report by the world economic forum predicted that over 5 million jobs across 15 developed countries will be lost by the year 2020. another estimate says there will be
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a 7% net loss ofjobs in the united states by 2025. and office and administrative support staff will be the hardest hit. here in singapore the hardest hit. here in singapore the government has a plan to prepare children for an automated future. the bbc caught up with the director—general of education. many of the jobs that we do me disappeared totally and manyjobs that we know today will change in shape and form tomorrow. so ourjob is to help our students with strong fundamentals. if we give them the skills to apply these fundamentals in whatever new situation, whatever new contest, whatever newjobs that may appearfor them, new contest, whatever newjobs that may appear for them, we new contest, whatever newjobs that may appearfor them, we believe new contest, whatever newjobs that may appear for them, we believe that they should be able to deliver a future. we have tried to pinpoint some of
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the important thing such as critical and inventive thinking. we established that our students need stronger communication and collaborative skills. they are looking at the future in terms of multicultural literacies. singapore has no natural resources. the only resource we have are oui’ has no natural resources. the only resource we have are our people. we therefore believe in investing in people. there is competition globally and how will we fare will depend on how they respond to those challenges. that was the
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director—general for education in singapore. before we go, we have about 30 seconds to tell you about the markets. 0verall lacklustre because us equities closed flat overnight and not a whole lot of liquidity today as financial markets in hong kong, japan and south korea closed for the public holiday. so on wall street automaker shares slumped by airline stocks gained after the congressional hearing. thank you so much for investing your time with us. you are watching bbc news. let's bring you up—to—date with some of oui’ bring you up—to—date with some of our stories. signs of growing tension between britain and the european union in regards to beck said as prime minister theresa may warned road ahead could be bumpy. and donald trump and vladimir putin
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discussed global problems ranging from north korea to syria over the phone. they agree to meet injuly. now labour is promising to put 10,000 more police on the streets of england and wales if it wins the election, to be paid for by or is nursing conservative plans for capital gains —— cuts. but labour or it committed to funding other pledges and the liberal democrats said the figures being discussed with fanciful. jeremy corbyn has confirmed that the policy would cost £300 million. what we full-forward isa £300 million. what we full-forward is a proposal to increase police numbers. the conservatives have cut them by 20,000 we would aim to put 10,000 more police officers out there because it is a question of community policing and community involvement. there are many causes for crime and they have to all be addressed. it is a collective approach. we have reduced the number of policemen on the street from 2010
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but because the police have been spending money wisely and because we have worked with them on reform has beena have worked with them on reform has been a reduction in crime of nearly one third since 2010. we believe you can protect funding and also reduce crime. jeremy corbyn has insisted that the shadow home secretary retains his full support after a blunder about labour‘s new policing policy. diane abbott said she missed spokein policy. diane abbott said she missed spoke in an interview when she appeared to be confused about the extra policing cost. how much would 10,000 police officers cost? we believe it will be about £300,000. £300,000? for 10,000 police officers?! you can find out more on the numbers of police in england and wales and crime figures as part of oui’ wales and crime figures as part of our reality check online. all you need to do is go to bbc .co .uk slash years. nick clegg has said
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that ordinary people will pay the price of a high brexit. in a campaign speech, he accused theresa may of seeking to pull the wool over the eyes of voters and urged people to vote for a real opposition, the liberal democrats. in scotland, nicola sturgeon has urged young people to back the snp, aiming that younger generations are being let down by the conservative government. she claimed that by the time they reach their early 30s, the wealth accumulated by young people born in the 1980s will be half that of those born in the 1970s. and the green party say they will offer voters the chance of a second referendum on brexit with an option to remain in the eu. much more as always on our website but now it is time for sports news. hello there. welcome along to sport
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today, live from the bbc sport centre. —— bbc sport centre. coming up on this programme: ronaldo hits a hat—trick as real beat atletico in the first leg of the champions league semi—finals. why athletics is looking to erase some of the sport's greatest and longest—standing records from the history books. and azhar ali puts pakistan on course for a first series victory in barbados. yes, welcome along. he looks happy and so he might. cristiano ronaldo's hat trick moving real madrid a step closer to another champions league final. a 3—0 win over city rivals atletico madrid in the first leg

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