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tv   Asia Business Report  BBC News  February 23, 2018 1:30am-1:46am GMT

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activists and the media of exploiting the florida school shooting for political purposes. wayne lapierre said "opportunists" were using the tragedy to expand gun control and abolish us gun rights. president trump has suggested giving weapons to teachers. a senior north korean official, blamed for two attacks on south korea that killed 50 people, will attend the closing ceremony of the winter olympics. kim yong—chol will also have a meeting with south korea's president moon. and this video is trending on bbc.com. the canadian prime minister, justin trudeau, is on a visit to india, and his locally inspired outfits have got people taking. here he is at the sikh golden temple in amritsar. that's all from me for now. stay with bbc news. and the top story here in the uk: theresa may will make a speech next week on britain's partnership with the european union after brexit. she's been chairing an eight—hour meeting with senior ministers
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to thrash out a plan. now on bbc news, all the latest business news live from singapore. trade and the trans—pacific partnership are at the top of the agenda for the prime minister of australia, malcolm turnbull, and his first visit to washington. how valuable is one celebrity's worth? snapchat is finding out the hard way as its stock falls more than 7%. good morning, asia, hello, world, it isa good morning, asia, hello, world, it is a friday. thank you forjoining asia business report. we start with malcolm turnbull, the prime minister of australia, meeting donald trump
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very soon at the - house. he is very soon at the white house. he is travelling with a large delegation of business leaders to boost trade. australia— us trade last year rose to $34 billion. major australian exports include beef, other meats, and spacecraft. the us is the largest foreign investor into australia, pumping in $672 billion into the economy last year to be i spoke to a professor at the university of sydney, who said it is an important relationship. they are at the largest investor in australia, and the largest destination of australian foreign investment. it has been that way for decades. the role of the us is fundamental and is critical to the of australia. it is critical growth of australia. it is critical to the relationship of both of these countries. you were part of the
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trans—pacific partnership. now the us is out of it. the revised tpp taxed has been released this week. can australia convince donald trump to rejoin the tpp trade group?m can australia convince donald trump to rejoin the tpp trade group? it is unlikely. that does not mean the prime minister will not bring it up. the prime minister is also going to be the keynote speaker at the national governors association. the prime minister is taking a multifaceted approach. speaking to donald trump directly and getting the governors on board. joining us earlierfrom the governors on board. joining us earlier from sydney. television reality star, kylie jenner, earlier from sydney. television reality star, kyliejenner, says she is "so over the social media app, snapchat." while is "so over the social media app, snapchat. " while it is "so over the social media app, snapchat." while it may not seem
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important to some, it put investors into a panic. snap stock loss $1.5 million, with its stock lowering by 7%. she said that to 24.5 million followers. can she really be blamed? we explain. she tweeted yesterday at 4:50pm local time, 50 minutes after the markets closed. suddenly, today, when the markets opened, it had been a bad day i snap. when the markets opened, it had been a bad day. snap. they when the markets opened, it had been a bad day i snap. they ended when the markets opened, it had been a bad day. snap. they ended 6% a bad day for snap. they ended 6% down. a dramatic fall. the other thing that happened is that they released a report, and in that report they talked about the compensation the chief executive is getting. he actually gets a stocks grant of more than $600 million. there are some analysts who are saying it is a combination of those two factors, and generally, many
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snapchat uses have been unhappy with the new update they have released on snapchat. —— might. the new update they have released on snapchat. -- might. justin trudeau's aged a trip to india has been bumpy, politically speaking. —— eight—day. indian companies have walked away with $1 billion worth of deals. will it be successful? joining me from mumbai is our reporter. the $1 billion, in which sector to be see the largest cooperation between the two countries? —— did we see. the largest cooperation between the two countries? -- did we see. justin trudeau signed these deals after one—on—one meetings with some of the big corporate leaders here in india. primarily technology companies that decided to invest. the $1 billion will be spread through canada and india, notjust in one or the other.
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the investment made by indian companies will create jobs in canada. but i think the real details will emerge after the trip, where they will give out a detailed plan as to be specific areas in which the canadian companies will invest. they are looking to invest in india in a way. and we will talk about big way. and we will talk about trade now. where do they agree and disagree, which industries and sectors? there is a huge amount of growth possible. india and canada have a deep cultural thai in terms of the population and influence. —— tie. bilateral trade is only $8 billion, unfortunately. there is a huge possibility that. narendra modi will meetjustin trudeau in the capital. they will talk about
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infrastructure. infrastructure is something india is looking at. a canadian pension fund wants to invest in india. india wants to modernise infrastructure and needs $1 billion. the other issue canada could raise with india is that india recently put a hefty import duty on products like chickpeas and beans. that is something canada could raise. thank you forjoining us. the us unit of japanese raise. thank you forjoining us. the us unit ofjapanese airbag manufacturer, ta kata, us unit ofjapanese airbag manufacturer, takata, has reached a settle m e nt manufacturer, takata, has reached a settlement with 44 us state attorneys. there was a deadly safety defect with the airbags. the settle m e nt defect with the airbags. the settlement could pave the way for a sale of the company to rival the safety systems. i am joined by timothy mcdonald. this could be good news for takata, but they are
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bankrupt. they have run out of money. that is a big issue because, interestingly enough, even though $650 million have been decided upon, no one will make them pay it. they we re no one will make them pay it. they were pushing for this penalty but said they do not expect them to pay it. the reason is there is a separate settlement of $1 billion. within that, there is money for the car settlement and those affected and victims. let's not forget, many people were injured and died because of these airbag faults. of course, i guess the other issue is they are trying to re—establish the company. they are doing that through a buyout from one of their competitors. there area number of from one of their competitors. there are a number of hurdles and this is one of them. hopefully it is
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resolved sooner rather than later. thank you so much for that on ta kata, thank you so much for that on takata, timothy mcdonald, the business reporter. the chief executive of uber has vowed to continue investing in southeast asia even though it expects to lose money as it battles its local rival. in doing so, they have dismissed earlier reports they may sell their business in asia to their competitor. softbank, from japan, which owns a stake in both companies, has suggested it could be a strategy, but uber says it will make its own decisions on mergers and acquisitions. and now let's take and acquisitions. and now let's take a look at this report from aaron heslehurst on the history of the duct tape, its role, you see it
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everywhere, to patch up things that are leaky and broken. it has even been used on the moon. aaron heslehurst tells us the story. 0w! it's duct tape. it is what we used to patch up cars, furniture, even shoes! where does come from? it comes from her! she was working in world war two in an american arms factory and she wrote to president roosevelt. she said there was a problem with us ammo boxes. it was ha rd problem with us ammo boxes. it was hard for soldiers to remove the waterproof seal on them, and that lost precious time in combat. they were working on a sticky tape they could rip off to open the box. the wartime government told johnson & johnson, the maker of bandaids, to
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start churning it out. they called at 100 mile start churning it out. they called at100 mile an start churning it out. they called at 100 mile an hour tape because it could be used for all sorts of repairs to be after the war, builders used it to steal air ducts. and that is how it got the word duct tape. —— seal. it was even used on the moon to fix a broken fender on the moon to fix a broken fender on the lunar rover in 1972. the leading maker sells $300 million of it every year. hmm, they must be over the moon. aaron heslehurst with the history of duct tape. thank you for investing your time with us. i am rico hizon. sport today is coming up next. the top stories this hour: america's hugely influential gun lobby, the nra, has launched a strident defence of weapons ownership, in the face of demands for stricter controls after last week's school shooting in florida.
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theresa may is to make a speech next week to explain the government's plan for a partnership with the european union after brexit. it follows an eight—hour meeting with senior ministers. thousands of university lecturers have started strike action over planned changes to their pensions. elaine dunkley reports. at leeds university, lecturers out on the picket line. thousands of lectures have been cancelled on campuses across the uk, the message — "give us the pensions we paid into, or there will be mass disruption". we're expecting things to grant to a halt, really. forms won't be signed, classes won't be taught, research deadlines won't be met. we're likely to lose about £10,000 a year. now, vice—chancellors are earning about £250,000 to £280,000 a year, so i have questions about why the money shouldn't be coming out of their salaries and not
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out of our pensions. the university said a £6 billion deficit in the scheme means it's unsustainable, and could only be maintained by making cuts to jobs and research. universities say they have offered a good deal, but lecturers are not convinced. currently, we have what is called a defined benefit scheme, which means we put money in and we will definitely get a certain amount back when we retire. the defined contribution scheme which is being offered means that what we end up with in the pot will depend on the vagaries of the market and other things, and it means we can't be certain of what we'll have. left unresolved, more lectures could be cancelled and exams affected. you pay over £9,000 in fees. do you feel short—changed by all of this? the students support their lecturers, but are also worried about their future. more than 80,000 students have
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signed petitions calling for fees to be reimbursed. when we signed up to university, it was specified in the curriculum that we would have a certain number of hours of contact time with our lecturers. anything short of that is essentially a breach of contract. we worked out that it works out at about £1,150 worth of lost contact time. but we fully support our lecturers in going on strike. this dispute is being fought on university campuses across the uk, which included marches in cardiff... belfast, and glasgow. how it's resolved will have a significant impact on the retirement of thousands of lecturers, and the future of millions of students. elaine dunkley, bbc news. time now for all the sports news in sport today. hello, this is sport today, live from the bbc sport centre.
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day 14 is under way at the winter 0lympics day 14 is under way at the winter olympics in south korea. coming up on this programme. that is what we have to look forward to, lindsay vonn missed out on day 13 of picking up another medal. a police officer dies in crowd trouble before athletic bilbao and spartak moscow's europa league game in spain. and webb simpson shares the overnight lead with alex noren after the first round of the honda classic in florida. hello and welcome to the programme where day 14 is under way at the winter olympics in south korea. day 13 saw no hollywood ending for american skiier lynsey vonn

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