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tv   Asia Business Report  BBC News  June 4, 2018 1:30am-1:46am BST

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against import tariffs. beijing says all trade talks with washington will be void if the us imposes trade sanctions. that statement followed a meeting in bejing between vice premier liu he and us commerce secretary wilbur ross. his trip came days after washington threatened tariffs on $50 billion of chinese imports. donald trump's lawyer says the president probably has the power to pardon himself over russia collusion allegations. but rudy giuliani says mr trump does not intend to do so. and this video is trending on bbc.com. it is footage of a polar bear making his escape after paying an unexpected visit to a hotel in norway. the animal took fright on hearing a helicopter arriving and managed to squeeze out of a small window. and the top story here in the uk: the home secretary has said it may
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be time to raise the cap on the number of skilled workers allowed to enter the uk. it would be part of an overall review of immigration policy ahead of brexit. now on bbc news, all the latest business news live from singapore. the america over tariffs, as the return of us protectionism raises fears of a global trade war. and flush with cash. one of the world's largest makers of hi—tech toilets is reaping big profits in asia. good morning, asia, hello, world. it is a monday. hope you had a great weekend. glad you canjoin us for another exciting addition of asia business report. i'm rico hizon. we start off with trade and america's
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relationship with trading partners around the world will be put to the test this week. in china, us commerce secretary wilbur ross has been leading negotiations aimed at reducing the trade deficit with the world's second—largest economy. his latest round of talks in beijing over the weekend ended with the mainland warning the us that any agreement is reached on trade and business will be avoided if tariffs are implemented. later in the week president trump comes face—to—face with the leaders of the group of seven industrialised nations in quebec, canada. it is likely to be a tense meeting. many of them, including the host, canada, have criticised the us for imposing ta riffs criticised the us for imposing tariffs on their products. earlier i asked the chief investment officer atan asian asked the chief investment officer at an asian asset management business if her clients were worried about this trade war. our investors are long—term investors so i think clearly you have to take seriously the talks of trade war that we are
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seeing, because the amount is actually much bigger than the $50 billion that everybody is talking about when you focus on steel and aluminium. if you include all the retaliation threat is, if you want, they have been talked about, you could talk about $475 billion on a global basis, which is about 20% of imports. so you have to take it seriously. however, the impact on global growth, and potentially inflation, are such that you would have to think that this is a strategy, if you want, by the us administration, to try to negotiate the deal is that they want to have. what if you break it down, how much ofan impact what if you break it down, how much of an impact will these trade disputes have an asian economies, and which economies and sectors will be affected? so we don't have clarity on this right now. if you look at asia, in particular, asia tends to be quite leveraged to trade. so if you take trade to the us, it is only 27% of gdp. for
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china, it is larger, in the 35% range. if you look at asian economies like singapore, taiwan, korea, it is a much larger share. but what you have to look at is exactly what are we talking about. in my view, part of the trade wars discussions that we have are not only about trade. they are about geopolitics, they are about politics, mid—term election, geopolitics in the south china sea, but also specifically, in my view, about electronics. it is a slew of factors, but of course we have about half a minute left of this interview. donald trump is heading for quebec, canada, for a g7 meeting. he will face the music and face the raft of global leaders. will he backed down?” face the raft of global leaders. will he backed down? i think you strategy is to push very hard and back down —— wrath. his second
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largest deficit is with europe at $153 billion, and the threats of putting 25% tariffs on autos has definitely brought attention to this. so i think it will be lively. hopefully we will have some good news out of that. but i think it is a long battle, and we should be ready for the volatility. in other business news making headlines, australia's commonwealth bank is paying $530 million to settle claims it broke anti— money laundering and counterterrorism financing laws. the fine is poised to be the largest ever civil penalty in australian corporate history. uibg is sweetening its takeover bid for virgin money. a deal between the two companies would create the uk's sixth largest bank. a hotel group
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has expressed interest in buying pa rt has expressed interest in buying part of air france klm. the french government is considering a sale of all or part of its 14.3% stake in the national carrier. air france klm has been struggling to stay profitable in the face of long—running labour risks and rising competition. staying in the aviation space, the international air transport association plans to revise down its profit forecast this year because of rising oil, infrastructure and labour cost is. those aren't the only issues facing the airline industry. the bbc‘s correspondent is attending a three—day conference in australia. g'day from my hometown. i am here to analyse an industry which 4 billion of us use last year, and it is going up. iam of us use last year, and it is going up. i am here to take a look at the global airline business. why sydney? it is this year's host city of the
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iata general meeting, the only time of the year that you get 480 airline bosses under one roof. will airlines go electric? and what will we, the passenger, have to pay for? and here isa passenger, have to pay for? and here is a problem. where are the women? why are they so very few female ceos in the industry? the man responsible for all of that, the big loss of iata, is just over here. for all of that, the big loss of iata, isjust over here. a for all of that, the big loss of iata, is just over here. a former french businessmen and the former ceo and chairman of air france klm. alexandre, good to see you. four quick questions. long haulflights seem to be on the rise. has demonstrated its ability to transfer passengers on long haul distances successfully, so people pay less to travel more and travel longer. it is a new trend in the industry and it
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will continue. everything is going electric nowadays. electric planes. are we going to see them?” electric nowadays. electric planes. are we going to see them? i think it is too early. the electric technologies for aeroplanes have been very carefully studied by our manufacturers, but it is a long—term solution. and airlines are always trying to make a profit, of course, which means passengers are paying more and more for things. what is next? you are travelling for a much lower price than you are travelling ten yea rs lower price than you are travelling ten years ago, so we have made an enormous effort to reduce our fares so you can travel everywhere for cheaper prices. and let's talk about one problem facing your industry and many industries. where are the women? why does the airline industry have so few female ceos?|j women? why does the airline industry have so few female ceos? i think it isa have so few female ceos? i think it is a problem, and we are working ha rd to is a problem, and we are working hard to improve that. even inside iata, in which we have no women up until now, which was a disaster, we will have more women. you will see that in the coming days. 0k,
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alexandre, good luck for the next couple of days. stay with me for the next few days. i will be talking to the big airline bosses to find out what they think will be the big changes at 35,000 feet. i will see you soon. to something a bit more down to earth, did you know humans spent about 92 days on the toilet? they have come a long way from the days of chamberpot —ville. japanese hi—tech toilets are making a big splash overseas. five years ago, this company was worth $4 billion. back then it was one of the biggest overseas investments made by a japanese company. they wanted to expand their global footprint and access the key markets of china and europe, and it appears that their investment is paying off. we have seen our business, our oversize
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business outside japan, seen our business, our oversize business outsidejapan, growing about fivefold. so which other fastest growing markets in the region? china, india was a little slower than normal because of a number of disruptions with a new taxation system and the de monetisation which happened over a year ago, which slowed down many businesses in india. it was a bit of a disruption but things are back on track right now. you would expect china, india and indonesia to be the fastest growing markets for the next, you know, at least five to ten yea rs. next, you know, at least five to ten years. it is one of these japanese style shower toilets that has made its fortune. one of these can retail forup to $7,000. tell me about the price points. why
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would anyone pay more for a lixil branded products, rather than achievement chinese version? the challenge in asia is all about market development, not about fulfilling the market by creating a market. al —— consumers are engaged, but they don't think as much about their bathrooms. these loos are too expensive. thank you for investing your time with us. iam rico you for investing your time with us. i am rico hizon. sport today is up next. the top stories this hour: china joins g7 countries in warning president trump against import tariffs. donald trump's lawyer has argued that the president probably has the power to pardon himself over allegations of collusion
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with russia, but he does not intend to do so. two thirds of women with the most common form of breast cancer might be spared chemotherapy after a new trial involving a genetic test already available on the nhs. doctors say using it to analyse early—stage tumours could mean up to 3,000 women a year in the uk treated with surgery and hormone therapy alone. annisa kadri reports. juliet fitzpatrick is now in recovery after a physical and emotional battle with breast cancer. she says the chemotherapy that followed her diagnosis turned her into a horrible person to live with. i think, for me, the worst thing about it was the emotional side. i got used to losing my hair and going around bald, but i just felt so depressed, and not wanting to talk to anybody, and really it was just that feeling of wanting to be away
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from the world, actually. doctors say new research means thousands of women with the most common form of early—stage breast cancer could be spared chemotherapy. trials of a genetic test have found that the treatment can be safely avoided without affecting outcomes. the test is carried out after surgery to see whether a tumour is likely to spread, and people get a score out of 100. women who score 0—10 are considered low risk. there is no benefit in having chemotherapy. at the other end of the scale, people who score over 26, there is a definite benefit. but there is a grey area for most patients, who are in between. the findings suggested that, for those patients aged over 50, chemotherapy wasn't needed. it is estimated this could affect around 3,000 british women a year. there has always been this uncertainty about what the best recommendation was for the two thirds of women who had
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a test in the mid—range, and this trial definitively addresses that very important question. a leading breast cancer charity is calling for changes in cancer treatment. some clinicians will update their practice immediately, because the results of this study are so significant. and that's why we want to see the clinical guidance updated, so that more patients can benefit across the nhs. the trial is another step in trying to provide more tailored treatment for breast cancer patients. anisa kadri, bbc news. a stand—up comedian known as lost voice guy, who uses a speech synthesiser, has won this year's britain's got talent. lee ridley, who suffers from cerebral palsy, has previously won the bbc news comedy award. the 37—year—old will have the opportunity to perform at the royal variety performance. time now for all the sports news, in sport today. hello.
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this is sport today live from the bbc sport centre. coming up on this programme: novak djokovic moves through to the french open quarter finals after a straight—sets victory over spain's fernando verdasco. brazil score twice in the second half to see off croatia 2—0 at anfield in their penultiumate friendly before the world cup. and after blowing a seven—shot lead, ariya jutanugarn eventually wins the us women's open in alabama on the fourth play—off hole. hello, and welcome to the programme. we start with tennis, and the news that novak djokovic is through to the quarter—finals of the french open after a straight—sets victory over spain's fernando verdasco. the 31—year—old serb, seeded 20th, has reached the last eight at roland garros for a 12th time, an open era record, as he continues his comeback following an injury riddled past 12 months.

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