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

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repaired a faulty gene in human embryos. the us and south korean team used gene editing to correct dna that causes a deadly heart condition. critics warn that eventually the method could be used to produce so—called "designer babies." president trump has relu cta ntly a pproved new sanctions against russia. moscow says the move amounts to a "full—scale trade war." and this video is trending on bbc.com. a scientist filming sharks off the coast of cape cod got some incredibly close up shots of a great white. luckily, the 2.5m shark shows more interest in the camera than the scientist. that's all from me for now. stay with bbc news. and the top story here in the uk. three men, who dubbed themselves the three musketeers, have been found guilty of plotting a terror attack on a police or military target in the uk. they were arrested last august in an undercover police sting.
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now on bbc news, all the latest business news live from singapore. as kaesler‘s as ka esler‘s latest as kaesler‘s latest earnings shift into high gear we look at china and india leading asia's ambitions for electric cars. —— tesla's latest. and the dow pushes past 22,000 mark. will the rally extends to asia. —— kickstand to asia 7 will the rally extends to asia. —— kickstand to asia? welcome to asia business report. i am sharanjit leyl business report. i am sharanjit leyl. we begin with the auto sector. electric car maker temper —— tesla just reported revenues of more than $2 billion for the april— june quarter, more than doubling. the electric car maker burnt through
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more than $1 billion in that quarter, ramping up production for its mass—market model three, released last week. there are about half a million pre— orders for the model three. asia has its own ambitions when it comes to electric cars. china has mandated 8% of all vehicles sold the new energy cars by 2019. india has vowed to make all ca i’s 2019. india has vowed to make all cars sold electric i 2030. earlier i spoke to an auto analyst in sydney. i think you have to differentiate chinese case from the indian case. if you look at the background statistics, china has a penetration of electric cars around 1.4%, higher than the us. they accounted for half of all you —— will electric cars registered in 2016, around 250,000 a year. they are on a naked trajectory. also, china has an ability to provide infrastructure, because it is a decision by the
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government. 150,000 public charging spots exist already. i am more confident about the chinese case. there are lots of manufacturers of electric vehicles and hardly anybody else. bid and baic, they cell tens of thousands of cars per month, and found a widespread brands because they are only in china. if you look at india, i think that is a greater challenge. the current penetration is 0.02%. they sold 11,000 electric vehicles in 2016 and only 1000 were ca i’s vehicles in 2016 and only 1000 were cars out of that. that is a long way to go when it goes to 100% penetration. which countries and manufacturer ‘s will stand to gain from this potential increase? —— manufacturers. honestly, ithink china might be one of the countries benefiting from india, because they have ca rs benefiting from india, because they have cars which are underneath the $40,000 range. if you look at the
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growth of national income per capita in china and india, it is about $7,000, so it would take five years, and on top of it, tesla is not even present in india get. so i think the european manufacturers or american manufacturer ‘s would have to have a lower entry point on the model three to crack the market in india. we can now go to the assembly line in the united states were factory workers of japanese automaker nissan are set to vote on the right to form are set to vote on the right to form a union. the head of the deadline tensions have fled with the union describing it as one of the nasty is, antiunion fights in us history. michelle florey reports from mississippi. nissan launched this massive antiunion campaign to threaten and intimidate workers. we did the research may uaw and we do not want what they are offering. once again we are in a battle, we have to struggle and fight just to have to struggle and fight just to have the right to vote. the fight to
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form a union at the nissan factory in canton, mississippi. we are battling against our own, not for the right to vote or not to vote, but for the right to manipulate and lie to each other. for 14 years, workers at the nissan plenty have been engaged in a pitched battle with management over the right to form a union. mississippi, like many southern states, has typically been resista nt to southern states, has typically been resistant to letting in unions. this time, workers here are hopeful they have a chance. i want to have a voice in the plant. health and safety. like i said, equal opportunity. i got hurt on the line andl opportunity. i got hurt on the line and i have been dealing with that throughout the whole time. so it has beena throughout the whole time. so it has been a real process. and i think the union would really stand up for us. not everybody wants the union. nissan is the best thing that has
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happened to the state of mississippi. we are campaigning hard to keep the uaw out of our plant. we do not need an outside entity to tell us how to do what we are doing. to get its message across, nissan has posted antiunion messages inside the factory, landing them in trouble with the national labour relations board. the company denied allegations of intimidation, saying that voters have the right to know the compa ny‘s perspective. that voters have the right to know the company's perspective. for those who remember first—hand the south‘s troubled past, this is notjust about worker rights. it is about civil rights. when black people would go to register to vote, somebody might come buy their house burning across. 0r wearing a hood. now they do not wear the hood, or burn across, but they come by and say, we are going to oppose the union and oppose the plant. when it is time to vote, vote yes! the union is time to vote, vote yes! the union is hoping to turn past failure into success. is hoping to turn past failure into success. victory here might like the spark for the us labour movement
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across the south. —— light to the spark. the united states is said to be planning possible trade sanctions on beijing of international —— intellectual property theft, which would affect areas fleck semiconductors and artificial intelligence. us businesses have been lobbying for tough actions against what they feel like unfair trade and market practices by china. what can you tell us? it looks like the honeymoon between president xijinping it looks like the honeymoon between president xi jinping and it looks like the honeymoon between president xijinping and president donald trump is well over. they first met four months ago and it was a very positive face—to—face meeting. president trump tweeted afterwards, tremendous goodwill and friendship was formed, and their meetings led to 100 days of trade talks between the two countries. fast forward to today and the tone has changed. he is disappointed over china's lack of progress on issues like steel dumping and their trade deficit, which stands at more than $300 billion each year. as well as
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in action over north korea and its weapons programme. so in action over north korea and its weapons programme. 50 now in action over north korea and its weapons programme. so now the trump administration is stepping up the pressure on china. they are believed to be building a case of intellectual property theft, and we could see an announcement about that within days. according to reports, the us might invoke a rarely used law provision which will allow it to unilaterally institute tariffs and possibly restrict the transfer of advanced technology to chinese firms. this is interesting because the move marks a shift in strategy for the trump administration, but raises concerns that such actions may spark a trade war between the two sides. intellectual property cases should go through the world trade organization. but disputes the there tends to take years to resolve. bypassing the wto would raise a whole set of issues between the two sides. 0n raise a whole set of issues between the two sides. on wednesday, the head of the wto said to reporters that there is a clear risk of a
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trade war because of protectionist policies, and we just don't want that. no, we certainly don't. well, in other news, india's central bank reduced the cost of 0rrell in by cutting key interest rates. it is the first time the reserve bank of india has dropped its rates to a seven—year low of 6%. the move will make it cheaper to take out loans for large—scale purposes as a way to boost the economy. qatar airways has abandoned plans to buy a 10% stake in american airlines. qatar airways made an unsolicited bid worth at least $800 million injune. qatar said investing in the us carrier no longer meets its objectives. executives from the american airline had opposed the partnership and it was first disclosed. strong earnings from corporate america, including apple's latest results, since the blue—chip index and the dow to a new all—time high. it climbed past
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22,000 mark, marking its sixth straight record close. earlier, i asked sarah hussein how long the rally could last. that is the big question. there are lots of worries about whether or not the market is becoming too hot, and if we are due for some sort of correction. most people believe there is going to be some sort of correction but of course you can never really tell when this might happen. lots of people are also wondering how much of this is being attributed to president trump and some of the policies that he has put through. from wall street's respective, they have really shrugged off the fact that, you know, president trump has not been able to achieve a lot of the legislative goals he wanted to. for example, reforming the tax code or getting through a big infrastructure spending bill. wall street has largely shrugged that off, saying that there is a business friendly person in the white house now. let's ta ke let's take a look at asian markets.
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we are not seeing those kinds of figures. the nikkei has opened flat. the all ordinaries is down 1%. the nikkei has been under pressure to some degree because the yen is stronger against the us dollar, which is always pressure. japanese exporters that rely on the weaker yen for their profits. so that is possibly the reason there. we are also seeing a little bit of profit taking after a few aids of gains, particularly the likes of australia. we have also seen the oil prices under pressure. that is all from this edition of asia business report. thank you for watching. the top stories this hour: scientists have used gene editing techniques to correct faulty dna in human embryos. the breakthrough could help eradicate inherited diseases. president trump has relu cta ntly a pproved new sanctions against russia. moscow says the move amounts to a "full—scale trade war." 50 army cadets aged between 12
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and 17 have had to be rescued in northern ireland after getting into difficulties. the group, who'd travelled from england to the mourne mountains, were caught in bad weather. 16 of them were understood to be suffering from hypothermia. the ministry of defence has confirmed that all are now safe and accounted for. chris buckler reports. in the wind and the rain, rescue teams battled to get cadets off the mourne mountains and into ambulances. the teenagers from the cleveland army cadet force had come here to camp and to learn skills in the great outdoors. but this became a lesson in survival. at lunchtime today, in what were described as treacherous conditions, the northern ireland ambulance service declared a major incident and called in extra help to get the cadets to safety. have you nothing...
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the reports from the scene were much worse, the weather visibility was down to about 20 yards at that stage. the factors working against us here have been the weather, which is much better now than it was when this operation first started. also the terrain and this happened in an area that's difficult to access at the best of times. the weather can change quickly at the mournes and camping high up the mountain, the cadets weren't prepared for the arrival of high winds and heavy rain. the ministry of defence has described this as a remarkable rescue operation and they thanked all the teams involved for getting the cadets safely off the mountain. some of those brought down on stretchers were treated for minor leg injuries. others, for hypothermia. and they all return home with an experience rather more than they expected when they went to camp. chris buckler, bbc news, at the mourne mountains, in county down. deaths caused by drug poisoning climbed to over 3,700 in england
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and wales last year — the highest number since records began in 1993. the figures cover legal and illegal drugs, but there was a particular spike in the number of deaths involving cocaine. rashan charles, who died after a police arrest, did not swallow a controlled substance before his death. that's according to forensic analysis provided to the police complaints watchdog. it is investigating what happened as police tried to detain mr charles. his death sparked a number of protests, including one which turned violent. that is all from me. mike embley has the rest of the day's news in about 15 minutes. time now for all the sports news in sport today. hello. this is sport today, live from the bbc sports centre. coming up, a world record transfer fee as
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neymar is set to join paris st—germain from barcelona. gone before they get going — four time winners ajax fail to progress from the champions league qualifiers, losing to nice on away goals. and the flying swede sarah sjostrom bags another world record, this time at the world short course championships in moscow. hello and welcome to the programme, where we start with the footballing story that has made news headlines all over on the world on wednesday, and that is that neymar is on the verge of moving from spanish giants barcelona to paris saint—germain. the 25—year—old brazilian international was given permission to leave training with barca and fly to france and begin talks with psg — under the condition that his release clause of 263 million dollars was met in full, and that transfer could be confirmed in the coming days. 0ur sports news correspondent richard conway can bring us more from paris.

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