tv Asia Business Report BBC News September 27, 2017 1:30am-1:46am BST
from next year, they will be able to drive king salman issued an order allowing women to be given driving licences. saudi arabia is the only country in the world where its forbidden. an active volcano on the holiday island of bali has entered a critical phase and an eruption could be imminent. 75,000 people have left the area surrounding mount agung. and this story is trending on bbc.com — a shopping list, created by an indian woman to help her husband with their weekly food shop, has gone viral. it's full of instructions and little illustrations showing what to look for. era golwalkar‘s list has struck a chord with thousands of social media users. that's all from me for now. stay with bbc news. and the top story here in the uk — jeremy corbyn is to tell supporters labour is "on the threshold of power" and stands ready for government. at the party's conference in brighton, he'll say its general election showing has "put
the tories on notice" — and accuse them of "brexit bungling". now on bbc news, all the latest business news live from singapore. the head of the consumer credit agency equus fax announces a massive data breach. just do it alljust blew it? mike's profits are down but still beat expectations. —— nike's profits. this is bbc world news. i am rico hizon far asia business report. thank you forjoining us. equus fax chief is stepping down and foregoing this year ‘s bonus. these refinement comes as criticism rises
over a massive data breach which compromise the data of 143 million people. we have more from new york. equifax‘s ceo richard smith is now out after the damaging data breach and its slow response to big a long—time company executive was named as the interim chief executive while the company looks for a new leader. in a statement, mrs smith said he believed it was in the best interest of the company to have new leadership to move forward. now smith is the third executive to leave equifax since the cyber breach became public. is still expected to testify before congress next week about the hacker that has left millions of americans vulnerable to identity theft. now equifax is one of the three major firms that tracks credit history of almost all americans. between mid—may and july,
the birthdays and social security numbers of over 143 million americans may have been stolen by hackers. about 400,000 britons and a number of canadians were also affected. now, equifax‘s bodged response has sent shares plummeting. moving now to the sports apparel business and nike has reported better than expected earnings after a strong better than expected earnings after a strong overseas better than expected earnings after a strong overseas growth. it made up for weak a strong overseas growth. it made up for wea k sales a strong overseas growth. it made up for weak sales in the united states. but the news is not all good for the world's largest footwear manufacture. net income fell 24% in the first quarter down from one quarter dollars a year earlier. 0r more on nike and the sports apparel business we have leased a. is nike losing its footing against others?
they are not giving the company list any longer. it has been losing market share to other rivals such as under an. we have seen this as well buy the latest results where revenue was flat, especially revenue we. this is critical because the us is the world's because sports were apparel market. china is the second—biggest and that will be the battleground for nike. if you take a look at this shop you can see that the us market is worth over $100 billion. china is a fraction of that but that is quite fast growing because it is becoming popular there for consumers are millennial is to use activewear as their everyday clothing. if you walk along the streets of beijing you will see people wearing yoga pants and other types of june year. people wearing yoga pants and other types ofjune year. nikkei is one of the market leaders but chinese companies are quickly closing the 93p- companies are quickly closing the gap. they are cheaper than foreign
brands which is why the locals choose them, the nikkei and a bidders are still the because they are considered more prestigious. you can see that a deed as is catching up can see that a deed as is catching up with nike. —— adidas is catching up. general electric is in talks to salvage a deal to build 1000 diesel locomotives for indian railways, the country's national rail line. the bbc‘s gunther has more. the officials i spoke to have said they are in discussions with general electric over what to do with the $2.5 billion deal to build these engines. the indian government wants to focus on electric engines which it feels is cleaner and faster and more cost—effective, especially when
they are building a new 3000 kilometre railway network line to transport goods. at the moment, contractual obligations are needed to be looked at in order for the deal to be scrapped. but it will not be easy. the government is not wish to upset a foreign investor. general electric has already set up a factory. 0fficials electric has already set up a factory. officials say that for now there are several options open for general electric. 0ne there are several options open for general electric. one is to allow it facility to be purchased by another manufacture of electric engines. and other is tomb make diesel engines and export to other countries. for now, ge has said that locomotives being manufactured in thisjoint adventure are some of the most fuel efficient in the world and will reduce emissions by at least 50%.
the company continues to fully execute towards this plan. 0ne the company continues to fully execute towards this plan. one thing is for certain, as the government is confident of finding a solution in the next 60 days, it is not giving up the next 60 days, it is not giving up on its commitment to clean energy here. prices are showing signs of life after several months near the bottom of the barrel. here is where they are at the moment. this comes a few days after brent crude reached almost $60, a level we have not seen since the middle of 2015. but will this last? i asked an oil analyst earlier. will demand has been unexpectedly stronger than many people were forecasting. the outlook for the next few years is that it will continue to be strong. amidst all the talk we hear about electric vehicles and the growth of electric cars, which is important, it is still small. oil demand is growing.
how about the higher output coming from the us? shale production. this depressed oil prices over the last few years. depressed oil prices over the last few yea rs. why depressed oil prices over the last few years. why are we seeing a recovery despite constant production from america? this year we have seen production from america are growing quite quickly as prices have risen to the on the other hand, 0pec have had an agreement which has included some non— 0pec oil producers and they have been successful in curbing they have been successful in curbing the opec production levels. that is around stockpiles to come down and 110w around stockpiles to come down and now we are seeing reduced stock piles reflected in higher prices. are we likely to see these trends heading north or will we see a major price reduction yet again over the next few months? $60 a barrel on brent will be a big psychological hurdle because many people are anticipating that above those prices you will see the us shale guys
coming out and producing even more and hedging back forward, selling it forward in the future markets, locking in prices so they continue to produce more. our locking in prices so they continue to produce more. 0urforecast suggests over the next three or so yea rs suggests over the next three or so years that production and export from the united states will grow significantly. technology giants making their fortunes in cloud computing are powered by a digital infrastructure under the seat. 90% of data is carried by wires under the ocean and they are part of a crucial chain. earlier i spoke to a chief executive about these undersea cables. over 9996 chief executive about these undersea cables. over 99% of global communications is traversing on these cables. it is the primary digital path for connecting countries and continents together. are these undersea cables future proof? can they evolve as technology
changes? just as satellite technology developed sodas undersea cable technology. the quantity and of capacity we can push through ca bles of capacity we can push through cables today is a multiple of what it was in the last generation of builds at the 2000. you are also making significant investment in undersea cable systems, apart from the likes of microsoft and facebook. we just completed a build of a brand—new system that is over 10,600 kilometres long from new york city to some polo in brazil. it is the first direct route connecting the two countries and connecting the financial centres of those countries. you make significant investments. this costs you about half a billion us dollars. for consumers such as myself and eve ryo ne consumers such as myself and everyone watching as it make communication more expensive or more reasonable? it is more reasonable,
that question, for two reasons. number one, with an independent player like ourselves our focus is to increase the number of parties inside the one country and from outside looking to come in. we increase competition inside these markets and that increased competition will reduce pricing for the end consumer to provide them with better choices and variety. that is the first in. the second thing is that for content providers, people like google or microsoft, it im proves people like google or microsoft, it improves the quality of service you, offer. thank you for investing your time with us. i am rico hizon. you are watching bbc news. the headlines the sour... the king of saudi arabia has issued an order allowing women to drive for the first time. more than 75,000 people have now been evacuated from their homes on the slopes of a volcano in bali amid fears of an imminent eruption the attitude of older
generations toward young people is that they're lazy and social media obsessed — that's according to a survey into the perception of generation z, those aged between 16 and 22. the young people who took part in the survey, which was commissioned by bbc newsbeat, said it wasn't entirely true with almost four in ten of them describing themselves as hard working. generation z are also more optimistic about their future compared to other generations. here's nick rotherham of bbc newsbeat. .. today, teenagers are often told they will struggle for work and should give up on the hope of ever owning the own home. that a survey spoke to 1016-22 the own home. that a survey spoke to 1016—22 —year—olds suggests one quarter of generation z are optimistic about their future. successive measured in a different way. if you are able to make a
living or survive off something that you want to do, something that you enjoy, i think that is the level of success. the older generation not being optimistic, what sort of sectors that have? what kind of message or energy is that passing to you? austerity has been a big part of this generation's upbringing. despite of this they are accused of being lazy. i think people are stereotyping and thinking teenagers are lazy. if you look at them, if you go to college, the people who wa nt to you go to college, the people who want to succeed will succeed and if they can't, if some people cannot be bothered to work, that is their loss. one of the biggest differences between generation z and the generation before it is the changing attitudes towards sexuality. two thirds say they are only attracted to people of opposite sex. that is a big drop compare to 88% of baby boomers. i think our generation genuinely does not care. they do not
see couples and go that is a straight couple, that is a gay couple. they go that is a couple. no—one cares. just be who you are. if someone is happy, who cares? there is agreement on issues most important to britain with all generations putting the nhs and a working cop economy after brexit at the top of the list. us government has delivered a ruling which could have major implications for one of the biggest employers in northern ireland, bombard you. does upheld a claim that bombardier has been unfairly subsidised by british and canadian governments. with analysis from our business team —— this analysis available on our website. hello, i'm gavin ramjaun, and this is sport today from the bbc
sport centre. coming up on the programme: ronaldo turns on the style as real keep up their winning streak in the champions league. england's ben stokes is out of their squad for their fourth one day international against west indies after being arrested. and the big names continue to tumble in china. world number two simona halep the latest casualty at the wuhan 0pen. let's start with the european champions league, and real madrid came away with a what could be crucial victory in germany. goals from gareth bale with a superb first half volley and two from cristiano ronaldo sealed a 3—1 away win over dortmund. the result sees them lead the way in a competitive group h. ronaldo reached 410 goals for real with his contribution. it was a result that coach zinedine zidane hailed as perfect.