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tv   Asia Business Report  BBC News  August 8, 2017 1:30am-1:46am BST

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from developing its nuclear arsenal. a spokesman has said that, while it faced military threats from the united states, the pyongyang government would not negotiate about its nuclear weapons programme. the speaker of south africa's parliament has decided that a new vote of no confidence in presidentjacob zuma will be held by secret ballot. and this video is trending on the french president, emmanuel macron, is facing a backlash over plans to create an office of "first lady" for his wife brigitte. many feel such a move at a time of public spending cuts would need to be sanctioned by a referendum. more than 220,000 people have signed an on—line petition against the plan. that's all from me for now. stay with bbc news. and a top story here in the uk: new figures suggest that more than a0 maternity units in england were forced to close to new admissions at some point last year. the labour party has blamed under—funding by the government. now on bbc news, all the latest
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business news live from singapore. the dow breaks another record on wall street, but what will it take for the rallies to spill over into asian markets. mothers milk against formula. why is the latter a favourite option in hong kong? good morning, asia. hello, world. welcome to another edition of asia business report. it's a tuesday. my name is rico hizon. i am glad you could join us. rico hizon. i am glad you could join us. we start the programme with the markets. the dow jones us. we start the programme with the markets. the dowjones industrial average posting the ninth straight record, finishing the session like
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this. much of the gains driven from strong corporate numbers from companies like apple and others. we will look at is the positive sentiment is filtering through to asia. unfortunately not. the nikkei is flat. the all 0rdinaries index is up is flat. the all 0rdinaries index is upa is flat. the all 0rdinaries index is up a little bit. a mixed day. earlier, i spoke to an analyst. we are seeing a rotation out of asia. it has become more attractive as the us dollar has become weaker. there are us dollar has become weaker. there a re low us dollar has become weaker. there are low funding rates over there. the federal reserve is tightening. in the first six months of the year we have seen the us dollar at multi—year highs against the euro, against the japanese yen, and the
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pound! are investors coming in at a time when the dollar is weak so they can buy back into the us markets? that is definitely part of the plan. it shows how much liquidity there is around the world looking to invest the money. it also shows you some of the money. it also shows you some of the distortions of the low interest rates are causing around the world. it is not just rates are causing around the world. it is notjust the us with quantitative easing, it is other areas, including the uk... asia, several banks have not raised interest rates, but the us has twice this year and there will be a third before the end of the year! does this not put a cap on us stocks?” don't know about that. as we were discussing earlier, the market could also stay longer than you could stay solvent. there is a lot going to the top spot. small caps are not performing well around the world. you mentioned irrationality among us investors. president donald trump's
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popularity rating is at a record low. us markets are up. it shows you the effect of the presidency and day—to—day living in the us. it may be that the underlying economy has a bigger impact than what any nuances in the political landscape by shelling. could the us markets be flavour of the year? —— are showing. i don't see any reason why stocks should be sold at the moment. if it is twice as high in a year from should be sold at the moment. if it is twice as high in a yearfrom now, we will be saying they look cheap today to be i don't see why they will tap out. other business news. the world's newsroom del chan says it will partner with alibaba to tap into the growing number of chinese tourists. —— hotel chain. it will allow them to book rooms using the travel website on alibaba. they can
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also use alipay on their smartphones. chinese tourists will ta ke smartphones. chinese tourists will take 700 billion trips over the next five years. prosecutors in south korea want a 12 year prison sentence for the samsung previous ceo, jy lay. they say he was the ultimate beneficiary of the crimes committed in the scanner which brought down the previous president. he denies any wrongdoing. the court will rule later this month. tesla once $1.5 billion to pay for the introduction of its new model three car by selling bonds to investors. that is even though they have $3 billion in cash. they are expected to go through most of their cash this year as they try to produce 100,000 of those mass—market cars. they already
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have half a million orders for the model, they say. video streaming giant, netflix, has made its first acquisition, the scottish comic book dumped me behind kickass and kingsmen. and they specialise in science fiction and fantasy stories similarto science fiction and fantasy stories similar to marvel. they paid $100 million for the company as part of a drive to produce more original content. 0ver drive to produce more original content. over to the week—long series around birth. we dig deeper into the debate between breast—feeding and formula milk. in hong kong, breast—feeding rates are some of the lowest in the world. the government has set voluntary guidelines limiting formula milk. they spend hundreds of millions of dollars a year promoting their products. will these guidelines be effective? here is the bbc‘s hong kong correspondent. sometimes,
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professional assistance is needed to help a new mother achieve that perfect latch. yes, that is correct. this consultant has been teaching breast—feeding for 20 years. it is still an uphill battle. many breastfeed in hospital, on discharge the rate is very high. but then the rate drops when they go home. this is how many discharge in hospitals. that goes to a third when babies are four—month—old, one of the lowest rates in the world. globally, this is the average for babies under six months old. 0ne is the average for babies under six months old. one of the reasons for the low rates in hong kong is the ubiquitous advertisement for artificial baby milk. two years ago, formula makers spent $370 million on advertising, nearly as much as the health department spent on disease prevention for all ages, according
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toa group prevention for all ages, according to a group funded by unicef. that amount is set to fall after the official launch this summer of a volu nta ry official launch this summer of a voluntary code that restrict the marketing of infant formula. the top health official in the city says the goal is to protect breast—feeding. if there are problems running this using a voluntary nature, obviously, we will consider whether or not that legislation should be in place. this new mother welcomes the guidelines. she is exclusively breast—feeding her one—month—old baby, but says continuing will be a challenger.m is difficult as a working mother. maternity leave is just ten weeks. i have to work six weeks after birth. ata have to work six weeks after birth. at a pro— breast—feeding event, mothers here agree that short maternity leave, long working hours, and a lack of sleep are all
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obstacles. they say the new government guidelines will help, but they are far from enough. bbc news, hong kong. joining the conversation on line, tell us whether you think they should be restricted. moving to technology. uber or lyft. they have been on a massive spending spree. this comes as softbank rose 50% to 4.2 this comes as softbank rose 50% to 11.2 billion us dollars in the three months untiljune. that is mostly because of gains in us chip designer nvidia. the owner of softbank became popular in america because of his meeting with donald trump. he is very rich. will he invest in uber,
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lyft, or both? he is considering both. we don't know which one yet, but he wants to crack that ride market because he has not presence in the us. he has already done so in asian ride agencies. he even has a big stake in brazil's 99. the importance of that industry has to do with growth. they are predicted to overtake taxis and be worth nearly $200 billion by 2030, the entire industry. it comes down to this man, the son of masayoshi. he isa this man, the son of masayoshi. he is a technology entrepreneur who started from small beginnings. he started from small beginnings. he started with softbank in 1981. now he is making big bets on an interconnected future. he has bought
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many companies. the most interesting move he has made is to set up a $100 billion technology fund with saudi arabia. this is the world's biggest, a huge amount of money. through it he is investing in almost every major start—up areas. summer include the virtual reality company, improbable, and some others. some are questioning if he is helping to fuel a tech bubble. thank you very much. with that we in this edition of asia business report. thank you for watching. —— we end this. this has been asia business report. sport todayis has been asia business report. sport today is up next. this is bbc world news. the headlines. north korea has said tough new un sanctions will not stop it from developing its nuclear arsenal, as it angrily rejected proposals for negotiations.
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after meeting president duterte of the philippines, the american secretary of state is heading to thailand for the first high—level talks since the military coup three years ago. new laws will be brought in to give people more control over their personal data held on line. members of the public will be able to ask companies to delete information collected, or posted on on—line, and firms found in breach of the rules will be hit with much largerfines. rory cellan—jones reports. your data, a valuable resource flowing around the world giving companies and governments all sorts of intimate details about how you live your life. now a new law is supposed to give us all more control. the law reform is an opportunity to keep up with the change in technology. companies will have more accountability and consumers are going to have more control. the new law includes a right to be forgotten, making it easier to find out what data companies hold on you and get it erased. there will be an end to tick boxes on websites which often seek consumers handing over data by default. and the data watchdog will be able to fine companies up to £70 million,
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or 4% of their global turnover. the new law is almost entirely based on a major new european data protection regulation that comes in next may. it's designed to tackle the power of the giant firms which store our information. we are now leaving a data trail wherever we go. turn on your mobile phone and you could be uploading your exercise details, or even your dating preferences. get on public transport with a travel card and there will be a log of everyjourney you make. and pay with a card in a shop or online and even more information about what you like and how you live will end up in the hands of big companies. it's social networks which now hold much of our most sensitive data. in future it should be easier to wipe away things we'd rather forget, though exactly how much power the new law gives individuals isn't clear. i think it's a start. it certainly puts a line
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in the sand to say, you know, individuals' personal data, a sense of control, it's essential, it's essential for trust, it's essential for the protection of a very fundamental right which is privacy. whether or not it will achieve that objective is another thing. our data is in the hands of all sorts of companies big and small. all of them have now got to get to grips with very complex new rules, orface the threat of big fines. time now for all the sports news in sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: kenya's faith kipyegon claims the women's1500m title in a thrilling finale on day four of the world athletics championships in london.
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man of the match and man of the series, moeen ali spins england to victory in the fourth test against south africa. and paying tribute to a club that refuses to give up. barcelona host chapecoense to honour the brazilian side as they continue to rebuild after last november's tragedy. hello and welcome to the programme, where we start with the world athletics championships and four golds were won on monday. day four at london stadium sawjust the one session which was held in the evening and it finished with a classic, as andrew lindsay reports. a high—class field and sparkle from the start. predicting a winner in the start. predicting a winner in the women's 1500 the start. predicting a winner in the women's1500 metres would not be easy, it rarely is. after winning in rio,


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