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tv   Asia Business Report  BBC News  April 3, 2018 1:30am-1:46am BST

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on american—made products. the dowjones was down 1.9% and the nasdaq 2.3% beijing's move comes after the us imposed sanctions on imports of steel and aluminium. mourners have gathered outside the house of the veteran anti—apartheid campaigner winnie mandela, who's died at the age of 81. south africa's president cyril ramaphosa described her as a "gigantic tree" in the struggle for equality. and this video is trending on it shows a teacher from greater manchester here in the uk being shown by his pupils how to do a dance called ‘the floss‘. their united dance class has gone viral. that's all from me for now. stay with bbc news. and the top story here in the uk: the director of public prosecutions, alison saunders, will stand down in october when her contract expires, after a series of recent controversies. now on bbc news, all
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the latest business news live from singapore. asian markets are tumbling in early trade, after massive falls on wall street, amid fears of a trade war. and write hayling app grab, plans to grab coopers customers. —— ride sharing. welcome to the asia business report. it has been a rocky day on wall street, china's retaliatory trade ta riffs street, china's retaliatory trade tariffs on us goods and donald trump ‘s attacks on amazon had taken their toll. on monday, china introduced
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ta riffs toll. on monday, china introduced tariffs on 198 us products and that sparked fears of a trade war between the world's two largest economies and is hitting on a lot of investors nervous. on top of that, for the third time this week donald trump has also slammed amazon. shares of the country, company slid by more than 5% after this tweet from the us president, at using it of exploiting the us postal service. now asian markets are taking wall street's lead as well. joining the initiative is monica miller with all of the latest. tokyo stock' have dropped drastically. it was down 1.5% when it opened but this has taken its lead as you have mentioned from wall street. taking a look at wall street markets from just 80 hours ago, look at the nasdaq in particular was down almost 2.75% and that had a lot to
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do with not just almost 2.75% and that had a lot to do with notjust amazon but facebook saw serious drops as well as intel and apple. this will probably lead the way that we are dealing with asian markets and if we go back to those right now, industry earlier, coming off an easter monday holiday, it is doing a little bit better than the rest of them but these are numbers from thursday, we will see exactly what happens in china as well as hong kong injust a a few hours and see if they will follow the lead. thank you so much for that. staying with some of those technology stocks, intel had a down day, two shares dropped by more than 996 day, two shares dropped by more than 9% on reports that apple has developed its own chips and. using intel products in the next two yea rs. intel products in the next two years. buber‘s announcement to sell its shares to grab may have hit a
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roadblock, investors are looking into whether the marriage could violate competition law. that malaysia and the philippines are following suit and putting grab on their watchlist. andrew is the chief executive at grab and we caught up with him to ask if there was any risk of the deal being scuppered. with him to ask if there was any risk of the deal being scupperedm far there is zero issues. specifically on the deal of how it is done, of course there are ways we can make it better and there are ways we can manage how to serve oui’ customers better. meanwhile, gojet has announced plans to expand in other markets at the end of the week. they have an online payment system included in its services. uber system included in its services. u ber successfully system included in its services. uber successfully exit the market and gojet will be the biggest competitor. here is the view on the
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players in this region. we have competitors in transport, competitors in transport, competitors in transport, competitors in payments, competitors in food, we have close to 3 million drivers. that in itself create an ecosystem, now that ecosystem we can leverage up on for food, we can leverage up on for food, we can leverage it for payments, we can leverage it for payments, we can leverage it for financial services, whee kim provide our drivers, you wa nt to whee kim provide our drivers, you want to buy a second bike or upgrade your car? we want to buy a second bike or upgrade yourcar? we can want to buy a second bike or upgrade your car? we can lend them money for it and expand the business. remember to choosing later this week for more on that interview and the start of oui’ on that interview and the start of our technology titans series of. the indian government is selling a controlling stake in this airline, the loss—making national carrier, air india. it is putting 60% of the business up for sale as what would be the biggest high—profile sale in decades. the buyer would have to ta ke decades. the buyer would have to take on about $5 billion of debts of
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the singapore airlines has a joint operation in india and our reporter caught up with the indian manager at singapore airlines and ask what is next for the carrier. we have other interests in asian countries, we will bring the delivery on the 8077, the first airline to fly to osaka. we will be growing. we are growing in excess of 4.5% every year. we will expand to the us, the extension to the us will be to have more singapore us services. we will start singapore us services. we will start singapore to new york, non—stop to los angeles, non—stop to san francisco, the capacity increases with all of these non—stops will be in the range of 10%. us for next year will see a big increase. what about the big competition from
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middle east airlines and europe airlines and even chinese airlines? we have been managing competition very well over the past couple of yea rs. if very well over the past couple of years. if you look at our latest on actual results for the latest quarter, i think we have been doing pretty well despite cost going up tremendously. and then we can see is that we are growing, we are expanding and in fact, come 2018, 2019, financially we are going to receive new aircrafts. we are on extensions to the next year, capacity will grow and for us in the commercial area, we have a bigger fleet of planes and will get more customers. in other business news, walmart has opened its first small high—tech supermarket in china. customers can use smartphones to pay for their items that are mostly available on the us retailer store ona available on the us retailer store on a chinese marketplace online. it is also targeting more online shoppers who spend twice as much the
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united states from buying on its website. tesla shares slumped 5% as investors wait customer numbers for the new model,. a company spokesperson says reduction of it is their highest priority, amid crashes in setting its autopilot technology and its ability to raise new capital also took a toll. and alibaba is expanding into the chinese food delivery market and buying all the outstanding shares of another food company. they already own about 43% of that start—up. shares in spotify are expected to make their stock market debut on tuesday. they have chosen an unusual way of entering
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publicly traded companies. like the bansit publicly traded companies. like the bans it promotes, today, spotify is warming upfor bans it promotes, today, spotify is warming up for its public market debut. already it has changed the way we experience music. you ever looked to see your spotify plays to see songs are getting the most place? definitely. seeing what the top tracks are and it might play into a decision—making as to what song to play live. spotted by now has over 150 million users around the world. —— spotify is over the past ten years, it ‘s change the face of the music industry and now in choosing a direct listing, it could be changing the way that start—up is go public as well. —— start—ups. a direct listing is a way of set selling shares directly to the public, that means they will pay less in fees to the bankers who usually do the paperwork. and there is something else. normally in an
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ipo, management and is something else. normally in an ipo, managementand inside shareholders are restricted from selling shares for a period of time after the listing, in a direct sale they can sell immediately, so it buys more liquidity. for spotify co—founder, it is expected he could make something like $2 billion, which is pretty impressive considering the company is still unprofitable. and then there is the competition. last year, for the first time, revenue from is dreamy music surpassed that of physical record sales. has made a few names you might recognise, apple, google and amazon, eager to get in on the action. all of those countries have their own streaming music service and they never need to make a dime, spot a fight —— spotify is the only stand—alone service in the group. bucks an hour, spotify can —— controls 42% of the global streaming market. the question is whether or
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not that will be music enough for investors years. —— ears. spotify will list on the stock exchange under the ticker symbol spot, but as we would tell you overnight, many analysts say the company could be worth about $20 billion which would make it the fifth biggest technology ipo of all—time. that is it for this edition of asia business report. i am here in singapore. remember, you can tune in and follow us on twitter. thanks for watching. you are watching bbc world news. the top stories this hour: us stock markets have fallen sharply, partly fuelled by fears of a trade war with china. the dow jones ended just under 2% lower. south africa's president cyril ramaphosa has led the tributes to the veteran anti—apartheid campaigner winnie mandela, saying she leaves a huge legacy.
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the director of public prosecutions for england and wales is to step down from the post later this year. alison saunders' will leave at the end of a five year contract, which has been marked by a series of controversies. she's described criticism of her performance as an insult to her staff. clive coleman reports. alison saunders, the head of the crown prosecution service, announced her departure, defiantly facing down criticism of her record. our performance across the last five years has been as good as, if not improving, despite the cuts that we have taken over that period. and we have prosecutors up and down the country, who come to work every day who make really important decisions about people's lives, who do so professionally and well. dealt a tough hand, she inherited swingeing cuts, losing hundreds of prosecutors and other staff. but her time has been
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dogged by controversies. her decision that his dementia meant that it wasn't in the public interest to prosecute the late labour peer lord janner over allegations of sexual abuse, was overturned. he was to face a limited trial of the facts before his death. well, sadly, she's been a very disappointing dpp. it's notjust my opinion, it's the opinion of the profession as a whole. and it stems from this central policy that all complainants are to be believed. they need to be sifted, they need to be considered. otherwise it will lead to the injustices that my family suffered. it was the collapse of a series of high—profile rape cases, like that of liam allen, because of failures by police and prosecutors to disclose critical evidence to the defence, that led to the most recent criticism. it prompted an urgent review of all rape and serious sexual assault cases. disclosure is a foundation of ourfair trial system. under it, prosecutors have to pass to the defence any evidence gathered by the police that either assists the defence case or undermines the prosecution's. for years, on alison saunders'
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watch, defence lawyers have been saying that that's failed far too often. afterfive years heading up what some call the nation's law firm, alison saunders will leave the crown prosecution service when it's under intense scrutiny. clive coleman, bbc news. don't forget you can get in touch with me and some of the team on twitter — i'm @babitabbc. time now for all the sports news in sport today. today live from the bbc sports centre. coming up on the programme,
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after a thrilling prey a play—off, bowls first major of the year is clinched. two days away from the opening ceremony of the commonwealth games, syringes are discovered in the athletes' village. and a spot in the athletes' village. and a spot in the round of 16 is sealed in the asian league. welcome to the programme. they say the good things come to those who wait and after an epic and hole play—off, that certainly of flies to lindbergh. the world number 95 has won herfirst major after defeating a south korean player in a thriller at the aae inspiration in california. as darkness descended at mission hills


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