tv Asia Business Report BBC News June 5, 2018 1:30am-1:46am BST
our top story: at least 62 people are now known to have been killed in guatemala's deadliest volcanic eruption in more than a century. many more are missing. up to 2 million people are affected. soldiers are helping firefighters search for those missing after villages were engulfed by torrents of superheated rock, ash and mud from the fuego volcano, which means "fire" in spanish. the white house has confirmed details of the first meeting between donald trump and north korea's kimjong—un in singapore on 12 june. it will take place at 9:00am in the morning local time. and this video is trending on bbc.com. it is the backflipping off—duty fbi agent whose antics on a denver dancefloor put a man in hospital. the agent's gun dropped out of his waistband. as he went to recover it, the weapon discharged, hitting another customer in the leg. that's all from me for now. stay with bbc news.
our main uk story: the grenfell fire inquiry is told how the blaze started, and hears that dangerous cladding and unsuitable fire doors were all factors in the fire spreading so rapidly. caffeine withdrawal. the man who turned starbucks into a global juggernaut is to step down from the company. and we look at how pollution is not just company. and we look at how pollution is notjust bad for the environment but for our economy and oui’ environment but for our economy and our ecosystem environment but for our economy and oui’ ecosystem as environment but for our economy and our ecosystem as well. good morning, asia, hello, world. it is a tuesday. glad you could join us for another exciting addition of asia business report. i'm rico hizon. we start off with coffee, and there is a good
chance that if you start off with a drink, it will be at one of starbucks' stores. well, the man who built it is stepping down after four decades at the company. this will be a big blow to starbucks. absolutely, and what is next for mr schultz is even more interesting. there is speculation we could see schultz 2020. he is said to have presidential ambitions and he has said ina presidential ambitions and he has said in a statement here is exploring a number of options including running for public office. he wouldn't be the first corporate executive to consider the white house. some other names floating around include bob eiger, from disney, 0prah around include bob eiger, from disney, oprah winfrey, and mark cuban. the thinking being that maybe if they can run a successful company they can streamline government as well. and starbucks has notjust a
big financial legacy, expanding from 11 stores to 28,000, but it has built up to be so successful, the stock price went up by 20,000% since 1992. he has given his employees free benefits, college tuition, and after a racist incident, he made sure all their stores closed for several hours of racial bias training. so he wanted to make sure there was a combination of corporate and executive leadership as well as moral leadership at starbucks. and this is my colleague's last day before she leaves for london. thank you so much. see you again in the next hour. and this week sees apple's annual developers' conference in silicon valley and while the company did not launch any new hardware, it did make a big announcement about online privacy. 0ne announcement about online privacy. one which could put it at loggerheads with some of its rivals. 0ur north america technology reporter dave lee explains. we are
shutting down. those are the words of one of apple's executives, who was talking about the tracking tools used by companies like facebook to follow you around the web gathering data and using it in order to sell targeted advertising. apple thinks it can limit the amount of data its devices share with web services when you connect to them. last year we introduced intelligent tracking prevention to dramatically reduce the ability for apps to track you across websites using cookies. this is the kind of thing where you look ata is the kind of thing where you look at a product on one side and you move to another site, and another site, and somehow this is following you wherever you go. well, we have all seen these, these like buttons and share all seen these, these like buttons and sha re buttons, all seen these, these like buttons and share buttons, and comment fields. it turns out these can be used to track you, whether you click on them or not. and so this year we are shutting that down.
applause this has been seen as a big statement from apple, and it could anger facebook and google, who of course rely so much on personal data in orderto make course rely so much on personal data in order to make their money. course rely so much on personal data in order to make their moneym might also pressure other companies like microsoft to follow apple's lead. trade talks between the us and china remains thorny as the latest round of negotiations failed to make progress. so could airlines and air cargo business be affect that by these hostile trade relations? the bbc‘s aaron hazelhurst sat down with the chief executive of cathay pacific in sydney. no trade war is a good trade war, but one thing about aircargo isa good trade war, but one thing about air cargo is a lot of what we are flying as consumer goods. the world's economic condition and demand is quite strong at the moment so things like aluminium sanctions and things like that don't really affect that kind of demand. and
then, of course, internet shopping is building up a baseload. so at the moment, no trade war is better than a trade war, but there is nothing that indicate a big impact so far. we know the chinese aviation market is absolutely booming. a lot of chinese carriers. are they a threat to you? no, ithink chinese carriers. are they a threat to you? no, i think china is a huge opportunity in two ways. there are a lot of numbers bandied around, but hong kong is very well—positioned and cathay pacific is very well—positioned that. secondly, i would say the greater bay area, the nine cities just over the border, including hong kong and macau, with a population of 7 million, collectively bigger than the san francisco bay area. i see all of that as a big opportunity for carriers. lots more competition, very good competition. it has been growing a bit faster than that
market recently, but the long—term prognosis, i think, market recently, but the long—term prognosis, ithink, is market recently, but the long—term prognosis, i think, is very strong for travel and tourism. cathay pacific last year, huge losses. what went wrong? fuel was a big pacific last year, huge losses. what went wrong? fuelwas a big part pacific last year, huge losses. what went wrong? fuel was a big part of it, but i talked about competition. there is a lot of competition growing faster than the market. that had a big impact on passenger revenue and passenger yields. that is why we launched the transformation programme. that is not just about getting transformation programme. that is notjust about getting our cost base in shape. it is about making us more agile and more competitive, new sources of revenue and new destinations. you can see some of that, we are flying to deny new destinations this year and building that hong kong hub and servicing that hong kong hub and servicing that china market i talked about.|j am that china market i talked about.” am glad you mentioned the word hub. i was going to say, we are starting to see these ultra— long—range aircraft, hong kong to dump mac —— singapore to new york, 19 hours. does that pay —— does that represent
a threat to your model? you can see huge volumes travelling, some will wa nt to huge volumes travelling, some will want to go non—stop. we serve 105 points globally non—stop from hong kong already. the chief executive of cathay pacific they are. today marks world environment day, and this yea r‘s world environment day, and this year's theme is to be plastic pollution. china, vietnam, thailand, the philippines and indonesia are dumping more plastic into the waters than the rest of the world combined. earlier i spoke to mark sainsbury, the founder of a philanthropic organisation. i started the founder of a philanthropic organisation. istarted by the founder of a philanthropic organisation. i started by asking him if governments or philanthropy groups should be leading efforts. we have all got a role to play. my particular focus is on climate change and sustainable solutions, and of course the government need to play their part in terms of their fiscal policy, their taxes. there
are more subsidies for fossil fuels than there are for renewables, globally. and surely that has the change of we are to transition away from fossil fuels into renewables, kind of a cleanerfuture. also philanthropy, philanthropic organisations, have an incredibly important role to play. and that is really my focus. and how much are you supporting these sustainable solutions? well, the answer is, in many ways, and globally. so although my trust itself is relatively small, a particular attitude to risk means that we can leveraged other people's investments and attract them into things like impact investing and green bonds, in a way which is really exciting. it may be small, as you say, but it could be a catalyst for other groups to follow your lead. that is exactly the point. 0urs are multiplayer affect. we see
—— multiplier effect. institutional investors need to come in. but there are some critics here who are saying that the and charities that support climate change sometimes end up investing in funds that benefit the fossil fuel industry without realising. so is there now a growing movement against that? you're absolutely right, and hands up, my own trust up until recently at the same time was giving to charities that were campaigning to keep fossil fuels in the ground. this is the divest— fuels in the ground. this is the d ivest— invest fuels in the ground. this is the divest— invest movement. fuels in the ground. this is the divest- invest movement. we were investing in fossil fuels, divest- invest movement. we were investing in fossilfuels, so divest- invest movement. we were investing in fossil fuels, so there was this distance between the investments we had an impact of our giving. so when did you have that realisation? this was about four yea rs realisation? this was about four years ago, inspired by bill mckinnon and the grassroots movement in the united states. we engaged with faith groups and universities, we have seen huge growth in the number of
funds under management that have agreed to divest in fossil fuels and investing climate solutions. it is to say that really, if you care for the future of our planet, you can't at the same time profit from those companies driving us towards climate chaos. that was philanthropist mark sainsbury. let's have a quick look at the asian markets. currently mixed at this hour. the nikkei up by 52 points and the all 0rdinaries lower by 5a. despite us stocks recovering on easing concerns over political turmoil in italy and the us north korea summit back on track. thank you for investing your time with us. i am rico hizon. see you again soon. the top stories this hour: at least 62 people have died and up to 2 million have been affected by the eruption of guatemala's most active volcano. the white house has confirmed that the first meeting between donald trump and kim jong—un will take place at 9:00am in the morning local time
in singapore on 12 june. trade union membership among the under—30s has fallen to its lowest level in over 15 years, partly because of the growth in the so—called gig economy and zero—hours contracts. 0ur economics editor kamal ahmed has the story. the new and old world of work. tyneside — modern buildings and traditional factories, the face of change. but memories of a different world for those who started work more than 50 years ago, when every acre was covered in factories operating date and night. in the early ‘60s, there were 10,000 people working here. everyone in the companies that i worked in were in a union. if you weren't in a union, you wouldn't have a job, and i think employers quite like the fact that they had organised labour. they mightn't like times of conflict, but certainly most
of the time, there was cohesion, there was working together. sam is 24. for him, a different experience. i left school and i went to work in a chippy. put myself through college, i put myself through college and i went roofing. i didn't even know the union existed. it's just not — it wasn't spoken of. it's something probably 97% of people didn't know about at that age. the tuc first met in victorian splendour in manchester in 1868, at the mechanics institute, still standing today. it was a simple idea — workers who organised had a stronger voice. the big question is this. is that rather simple idea beginning to break down? young people today, whatever the pressures of the new world of work, are only half as likely to be a member of a trade union than they were 20 years ago. those pressures are pretty clear — insecure jobs, more lower—paid and lower—skilled work,
people worrying they can't make ends meet. i asked the head of the tuc why the young weren'tjoining up. the problem is that many of their employers, especially in the private sector, make it hard for us to organise them. so if you think about where young people are working, in temporary and zero—hours contracts, often in franchise organisations that are hard to organise, the model we have isn't working for them. so we've got to fix it. we can use 21st—century tools, like digital, to organise young people in new ways that suit them. and if you don't, in 20 or 30 years, you could be over, couldn't you? of course. we've got to earn our right to represent. that is the challenge — a 150—year—old organisation catching up with the new world of work. kamal ahmed, bbc news. time now for all the sports news in sport today. hello, this is sport today, live from the bbc sport centre.
coming up on this programme: injury means serena williams is a late withdrawal from her french open fourth round match with maria sharapova. right now i can't actually serve, so it's kind of hard to play when i can't physically serve. in the men's draw, 10—time champion rafael nadal is through to the quarter finals after a straight sets win over maximilian marterer. and leroy sane is left out of germany's world cup squad on deadline day for the 32 nations involved. hello and welcome to the programme, where we start with tennis news, and with the anticipation building at roland garros on monday and the match due to take to the court, serena williams withdrew from her fourth round tie with maria sharapova at the french open.