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tv   Asia Business Report  BBC News  August 1, 2018 1:30am-1:46am BST

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our top story: a plane has crashed in mexico in durango state north of mexico city, with at least ninety people on board. dozens of people have been injured after it got into trouble after takeoff. mexican authorities say no one was killed. facebook has announced that it has taken down more than 30 fake accounts which — it says — were trying to influence the american mid—term elections later this year. and this video is trending on bbc.com. these thieves tried to steal a shark from an aquarium in texas. they placed it in a bucket and put that inside a baby's pram. luckily the public helped track them down and the shark has now been returned to its tank. and the top story in the uk. the national farmers union will hold an emergency drought summit later today. farmers across the uk have been experiencing their driest spring and summer for 42 years.
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now on bbc news live to singapore for asia business report. apple reports ducie earnings. thanks to the sale of iphone. and mike pompeo visits south east asia, a promising $800 million in investments. will this be enough to win friends and influence the region? welcome to asia is a strip —— asia business report. apple shines a —— asia business report. apple shinesa again, —— asia business report. apple shines a again, the technology giants posted quarterly results that topped targets and forecast revenue. these were driven by sales of higher priced iphones and revenue from services like the app store, apple
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music as well as i cloud. investors are sharing their delight in the numbers during after—hours trade. investors were really curious to see whether or not people continue to sheu whether or not people continue to shell out for their higher priced iphone models. when they reported the average sale price of an iphone, it increased to something like $724 and $694, suggesting that people really did want those great three‘s. they also said they would increase their revenue this year, there may be releases in the autumn. and other key metric when it comes to diversifying away from those iphones, it indicated its revenue from services increased as well. what did the company have to say about china? are they worried about president donald trump's trade war
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with the country? china is a key market for the sales of those iphones, the company reporting that earnings there are had increased. ceo tim cook brushed off tariffs, he said it is a tedious process to figure out anyway that apple could be impacted. so far it says after the three rows of tit—for—tat tariffs, they would not be expecting any impact. but when it comes to the $200 billion earnings, it is still wondering how it could hurt its bottom—line. wondering how it could hurt its bottom-line. even though apple has reported impressive earnings, it is this company here, huawei, they have pulled away from the technology giant when it comes to sales. reports now say it the company is the number two vendor, with apple third. the top smartphone maker is still seen some, which has sold 730
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million units worldwide. —— samsung. facebook is saying it has removed dozens facebook is saying it has removed d oze ns of facebook is saying it has removed dozens of fake accounts set up to influence the mid—term elections in the united states in november. as you might remember, this is the first time they have faced this problem. in 2016, a russian propaganda arm tried to temper in the election by posting and buying ads on facebook. day eve lee says that despite their company ‘s recent announcement, investors don't seem that concern. you might think investors would react badly but it seems there has been a slight bump in their share price, that might be attributed to apple showing that their technology stocks have not lost all hope after what has been a torrid week for them. facebook‘s shares at marginally up, another reason could be that although this isa reason could be that although this is a bad headline, what it also
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could be showing is that facebook expecting better at spotting and sharing this. they came out with this information themselves, detailing how they found these accou nts detailing how they found these accounts that were doing these kinds of activity and it shows that it is their investment in more people, their investment in more people, their attempt use outside advice and to improve ai their attempt use outside advice and to improve al to track this activity. they seem to be working. perhaps we are only seeing a small slice of this problem. although these 30 or so accounts were posting around 10,000 things to facebook, we have no idea whether that is a small piece of the problem or a sign that it is really getting on top of it. we will learn much more about misinformation. it might help them reputational lee that they appear to be doing something about this, but we know their shares are down about 20%. what is the outlook looking like? i think the share prices down
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mainly because of the in revenue as opposed to any of these political scandals. some of that revenue loss has been down to the huge investment in safety. balancing these commitments will be their big challenge going forward to. in other technology news making headlines, chinese internet search giant baidoo showed quarterly profits. it raised about 5% in the most recent quarter, the country has seen rapid growth in its newsfeed product, which is similarto its newsfeed product, which is similar to facebook and has managed to escape the glare of regulators, even as they face fines for failing to censor content. jaguar land rover has reported a loss for the first time in three years after sales slowed in china. the uk's biggest
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car firm slowed in china. the uk's biggest carfirm blamed slowed in china. the uk's biggest car firm blamed the setback on multiple challenges, it has included the impact of what it said was a temporary issue from a change in chinese import duties. china plans to cut import tariffs for cars and parts for most vehicles to 15% and putting 5%, starting this wednesday. —— from 25%. the india reserve bank will be announcing its policy decision today. in june, will be announcing its policy decision today. injune, they raised their lending rate by a quarter of a percent. that is the first hike in more than four years. could it do that again? are prices of vegetables, fruit, food grain and fuel rising rapidly? in short, is inflation growing at a fast pace? world that is one of the main things the central bank considers when making its monetary policy decision and it has got a mixed bag of numbers to look at. the latest data
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we have is for the month ofjune, it showed that consumer price inflation had risen to 5%, the highest in five. it is the details that are more interesting. it showed that food prices are not soaring, although the cost of fuel was. that was expected because overjune we saw global oil prices were rising, it has a huge impact in india because they import more than 80% of that wheel it needs. let's look at 110w. that wheel it needs. let's look at now. global oil prices have come down a little which means fuel prices are also easing of little. that is why economists are split down the middle about what the central bank will do. will raise rates because inflation rose, or will they wait a couple of months to see the trajectory of global prices before making that call? what most economistss do agree on is that there will be a rate hike —— rate hike before the end of the year and
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for consumers, it means cars and home loans could be more expensive and for businesses it will be more expensive to borrow money. mike pompeo kicks off a tour of south east asia today, starting first with malaysia. the trip is timed with his announcement on monday that washington plans to invest $113 million in countries all across asia. that investment has faced a lot of criticism, with a nalysts faced a lot of criticism, with analysts saying it is really a drop in the ocean at a time when china is spinning their wings of dollars on its dealt and road initiative across the region. it is said that the amount may seem small but focusing on the figure is the wrong way to look at the issue. the headlines tend to overstate the impact it might have. china swept up a lot investment projects that may have already happened. whether as the us
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and outs that is important because it signals that perhaps the us is starting to look at the asia—pacific region with a focus. we know that there were a lot of concerns that there were a lot of concerns that the us was taking its eye off the ball when it came to asia when they withdrew from the track —— from the tpp, one of the first things that donald trump did when he came into power. mike pompeo saying this is not the case, but is this true, considering some of the protectionist stance, the america first policies that trump as pursued? it is fair to say that losing the tdp was a blow to some of the countries in this region, in particular malaysia and vietnam, the estimated gains that they will face from the smaller agreement was up to half of a third if america had
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stayed in. that led to a fear within the region that the us, if it was the region that the us, if it was the retreating, it was perhaps looking at the region with a less intense focus than the previous administration. it is unclear whether that is really the case. let's ta ke whether that is really the case. let's take a look at the markets, we see the markets in asia are rising, taking cues from wall street, where we saw higher technology stocks. and we saw higher technology stocks. and we had the bank ofjapan with their policy meeting where they didn't make any radical changes. that has helped the nikkei. exporting. —— thanks for watching. —— helped the nikkei. exporting. —— thanks forwatching. —— nikkei. this is bbc news — the top story this hour. mexican authorities say an aircraft carrying 90 people has made a forced landing in the north of the country, but that no—one on board had been killed. facebook has announced that it has shut more than 30 account is a p pa re ntly shut more than 30 account is apparently aimed at influencing this year ‘s mid—term elections in the us. some of them may have had links
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to russia. british gas lost more than 300,000 accounts in the first half of this year, according to the chief executive of the firm's parent company. centrica's profits were also down by 20% to £430 million, as our business editor simonjack reports. switching your energy supplier — have you? i have, yes. no. yes, i have. yes. no. well, record numbers of people are switching, which turns out is bad news for the uk's biggest supplier, british gas. last year, british gas lost 1.2 million gas and electricity accounts. so far this year, it's lost a further 341,000 and that's hurt the bottom line with profits falling 20%. but the exodus is slowing, according to the boss of parent company centrica.
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overall, i believe we're now seeing the beginnings of our ability to stabilise customer numbers. so when i speak to you in six months' time, you won't have lost any more customers? i'm not going to give you a prediction about when we'll actually stabilise customer numbers and customer accounts in consumer, but it's definitely slowing. there are dozens of smaller, new competitors who don't pay in environmental levies, which gives them a price advantage. there's 80 energy suppliers now in the uk, so so much competition that british gas would really struggle to gain customers nowadays, they're almost certainly going to lose every year. also, on the price comparison websites, there's just a sea of cheaper deals from smaller suppliers. you have to scroll down a long, long way to get to a british gas deal, so they're struggling to gain new customers. but, 3.5 million british gas customers are still on expensive, standard, variable rate tariffs which the government has pledged to cap by the end of this year. the company insists that could end up with some customers paying more. it's a price control and where ever price controls have been put in place in competitive energy markets, customers have lost out.
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they've lost out because of less competition, prices tend to bunch around the cap and it tends to remove choice from the market. the company also warned wholesale energy prices have been going up recently, a hint perhaps that bills could still rise before the long—awaited cap comes into effect. simon jack, bbc news. hello, i'm tulsen tollett and this is sport today live from the bbc sport centre. coming up on this programme: in the coming hours england featuring adil rashid will take on number one ranked india in the first test of their series we look at whether basketball will ever be bigger than football in africa. and at the hockey world cup, hosts england join india in progressing to the quarterfinals. hellom and welcome
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to the programme where we start with cricket. falling attendances, the inclusion of a leg spinner who only plays in twenty20 and one day matches and the best player in the world aiming to score runs in the one country he hasn't — thats the backdrop to the series between england and india which starts on wednesday in birmingham. patrick gearey has been looking ahead to a series that marks a milestone for the home side. it's one of english sport ‘s longest running drama is now ready for its 1000th episode. full of glorious, stories and controversies, meet the latest. adil rashid, a legspinner who given up county cricket, now pick the marathon of concentration thatis pick the marathon of concentration that is a test match, a slap in the

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