tv Asia Business Report BBC News June 14, 2018 1:30am-1:46am BST
the headlines: the us secretary of state is in asia for talks after this week's summit between donald trump and kim jong—un. speaking in south korea, mike pompeo said the us expects major north korean disarmament by the end of 2020. he travels to beijing later. the un security council will meet laterfor urgent talks on the situation in yemen. saudi—led forces have launched a major offensive on the port of hodeidah, leading to fears humanitarian supplies could be disrupted. aid agencies are warning of an emerging crisis in bangladesh, with the arrival of monsoon rains. several rohingya refugees have died and as many as 200,000 more could be at risk from flooding and landslides. scientists are warning that antarctica is shedding ice at an accelerating rate. a satellite study indicates that some 200 billion tonnes a year are now being lost to the ocean as a result of melting, pushing up global sea levels. and the top story here in the uk. the labour leader, jeremy corbyn, has seen six
of his front bench resign after they ignored him to abstain on a vote on the brexit bill. now on bbc news, all the latest business news live from singapore. wall street ta kes wall street takes a tumble as the us fed hikes the cost of borrowing and says there's more to come. it is official. comcast has placed a bid to buy fox media assets for $65 billion in cash, setting up a bidding war with disney. good morning, asia. hello, world. it isa good morning, asia. hello, world. it is a thursday, glad you could join us is a thursday, glad you could join us for another exciting addition of asia business report, i'm rico hizon and we start with the us central bank and the fed has concluded its
two—day policy meeting by increasing its target interest rate by 0.25%, as we can see here. stocks on wall street sliding across the board with the dowjones street sliding across the board with the dow jones industrial average lower by around 120 point. the nasdaq composite index losing nine points and also in the red, the broader s&p 500 index. in a move that surprised many observers, the bank policy committees says it plans to raise rates to more times this year. the bbc‘s kim gittleson has more from washington. this is what counts as hydraulic in the world of central banking. the federal reserve policy makers surprised analysts after a meeting saying the majority favoured accelerating interest rate raises this year, that's suggests the us central bank things the biggest risks to the economy is inflation. prizes are rising as a result of a
booming us economy. interestingly this means the fed isn't concerned about the possible economic implications of a trade war the us is fighting with many of its closest allies. in fact, is fighting with many of its closest allies. infact, here's is fighting with many of its closest allies. in fact, here's what the chair of the federal reserve, dave powell, said at a press conference following the release of that statement —— rampal. concerns about changes in trade policy are rising, i think it's fair to say —— girona powell. i think you're hearing reports of companies holding off on making investments and hiring people. right now we don't see that in the numbers at all, the economy is strong, the labour market is strong, growth is strong and we don't see that in the numbers. something else not in the numbers, the potential disruption a vast array of interest rate raises could have on emerging economies globally. india's central bank governor has warned the fed that by decreasing the number of dollars in circulation
around the world it is harming economies like india. but with a booming economy, a favourable fiscal environment and the possibility of finally ending an era of accommodative monetary policy on the horizon, it's unlikely america's central bankers, and much like america's president, will be overly concerned about what the rest of the world thinks. kim gittleson there reporting from washington. comcast has offered a whopping $65 billion for the film and television assets of rupert murdoch's 21st century fox, topping an offerfrom murdoch's 21st century fox, topping an offer from walt disney for a deal that could create a dominant media entertainment powerhouse. 0ur business reporter paul blake reports from new york. this $65 billion mega deal would see the merge of some of the world's biggest television and movie brands and it's the first attempt of many
to merge content with distribution. as netflix and youtube become stronger, traditional telecommunications companies see these deals as vital to their survival. comcast floated the idea of for some time, but like other possible mergers and acquisitions, it was on hold. the company wanted to see the outcome of an anti—trust case brought by the trump administration against telecommunications giant at&t. that case was dismissed on tuesday by a judge, granting at&t the ability to buy content house time warner but also signalling a green light for comcast to proceed with its bid for 21st—ce ntu ry comcast to proceed with its bid for 21st—century cots. it's important to see that comcast proposal is a proposal, just that —— 21st century fox. what disney had made a bid for parts of 21st century fox. comcast and disney could not in a bidding war. blake in new york. all smiles this week as a summit
between donald trump and kim jong—un from north korea wrapped up in singapore —— paul bike. a different story when the president left the g7 in quebec. he left the summit angry, tweeting saying that trudeau was very dishonest and weak. —— paul bike. there's good news, according to frank lavin, the former us undersecretary of commerce, and ambassador to singapore —— paul blake. let me give you good news, trade is up let me give you good news, trade is up with every country in the world, imports are up, exports are up, lots of good news and continuity in trade but having said that there is friction out there as well and the unusual part is that this friction is led by the us president. normally the us plays a stabilising role, trade promotion role, now we're at a moment where the president is interested in pushing these issues. how true is what god, donald trump is saying, he wants a level playing field with canada and mexico, when
us goods get into their countries, the tariffs are exorbitant —— what donald trump is saying. he wants to level the playing field. donald trump is saying. he wants to levelthe playing field. he is reasonably accurate at describing the problems, canada does have a number of barriers on milk exports. that's a very fair criticism. 0ne number of barriers on milk exports. that's a very fair criticism. one of my questions is he going about solving the problem in the right way? that was frank lavin. a strong us dollar has been a major feature of the global economy over the past year and it's impacting asian currencies. a report by moody's says the philippines and other nations have been under the most precious. would it's other nations have been under the most precious. would its live? there will be some element of volatility associated with this. financial markets have been adjusting for prospects of us fed
rate increases for some time —— would it's rate increases for some time —— would its live? these have been sporadic espresso or risk of episodes —— would it's sporadic espresso or risk of episodes —— would its live. apart from blaming the us dollar, can we blame the likes of argentina, which is now borrowing muggy from the international monetary fund for the weakness of these asian emerging currencies, they could basically have a knock—on effect —— mo'nique. there's been an across the world sell—off in all emerging markets —— money. investors rebalance their portfolios during times of dollar strengthening, this is an episode you are seeing. cameras detecting redress using their phones at the wheel will be introduced in one part of australia. —— detecting motorists. the automated cameras can be used to spot distracted drivers. 0ur
australia correspondent hywel griffith checks out how this tech works. caught on camera, drivers who really should be looking at the road and not their latest messages. even when the phones are down beneath the —— board, the fixed cameras can still see if someone is breaking the law. they could soon be trained on the roads of new south wales, which has passed legislation to use automated cameras to prosecute drivers. alex mccready is hoping his company will be the one to provide the technology. absolutely reliable. the images are crystal clear. you can tell not only people are holding a phone, you can tell the model. drivers using their phones should be worried about this. they should be worried about this. they should be worried about this. they should be worried about using their phone because it results in death and serious injury all around the world. using a hand—held phone while driving is illegal in over 70 countries, but catching people is a
problem. saudi arabia is the only other place on the planet to try fixed, automated cameras. the technology's pretty new but the cameras have already been tried out in sydney when they set up three cameras on the harbour bridge. they ca ptu red cameras on the harbour bridge. they captured 100 drivers every hour using mobile phones. that was only people travelling in one direction. with phones offering everything from satellite navigation to in car entertainment, it's perhaps not that surprising. we found plenty of people who admit they've done it. it's a great idea because it gives everybody safe. is it something you everybody safe. is it something you ever done, touched the phone while you're at the wheel? i have, yeah, and i probably won't do itany i have, yeah, and i probably won't do it any more. when you know there's things happening at work and you don't want to miss an e—mail, they can often be the things. the cameras might put you off? definitely, work can wait a little bit longer. in trials cameras also picked up other distractions,
from eating to taking drugs at the —— board. the images are captured automatically but there are five by automatically but there are five by a human. alex is certain the technology will stand up in court. she is using her mobile phone while driving at 50 mph. i challenge the best lawyer in the world to argue that she is not doing that. there are that she is not doing that. there a re calls that she is not doing that. there are calls in the uk for similar cameras to be introduced as every country tries to find a way of keeping drivers focused. hywel griffith, bbc news, sydney. thank you so much for investing your time with us. i'm rico hizon. bye for now. i'm duncan golestani. the top stories this hour: the american secretary of state, on a visit to seoul,
has said he hopes there will be major disarmament of north korea within two and a half years. the saudi—led coalition in yemen has launched a major offensive on the rebel—held port of hodeidah, through which almost all aid supplies enter the country, where millions face malnutrition. the retail group, dixons carphone, has apologised for a data breach which analysts say is one of the biggest to affect a british firm. the details of almost six million payment cards were accessed. the company admitted it had fallen short but insisted there was no evidence that any fraud was committed with the details. the information commissioner's office is investigating what happened, as our technology correspondent rory cellan—jones reports. yet another data breach and this time, the hackers got through the defences of dixons carphone got access to the crown jewels, payment card details. worrying news for customers. itjust goes to show how easily people's data can be picked up.
you don't really think about it. you just sort of give your information. i know you shouldn't really. i'm not sure what you can really do, unless you choose not to trust any company, anywhere, at any time. dixons says 5.9 million payment card details were accessed by hackers. nearly all were chip and pin but there were 105,000 cards without that protection, and the hackers also had access to 1.2 million customers' personal data. now, dixons says that chip and pin cards should be safe because neither the pin nor the three—number code on the back of cards was accessible, and it says there is no evidence yet of any fraud relating to the other cards. but the fact that such sensitive information was yet again put at risk will be of huge concern to both consumers and regulators. dixons is just the latest company to find that it is not secure against the hackers. it's really hard to get security right. there are lots of ways that you have to secure things. that mostly involves human beings, users, suppliers, contractors. but there is one thing we do know
and that's that there are two types of company out there. there are companies that have already been hacked and companies that don't know they've been hacked yet. the data regulator is now investigating dixons carphone and has this advice for customers. look out for e—mails that look suspicious. look out for phone calls you weren't expecting from people claiming to be your bank or a lender or a building society. don't give your details out over the telephone or over the internet to anyone you don't know. dixons has said sorry to customers but will now have to explain why it took so long to spot intruders who got into its systems lastjuly. rory cellan—jones, bbc news. that's the way it's looking. you're watching bbc news news. a full round—up coming up at the top of the hour. time now for all the sports news in sport today. hello.
i'm tim hague, and this is sport today, live from the bbc sport centre. coming up on this programme: we're less than 2a hours away from the start of this year's world cup, but in 8 year's time, it'll be a united tournament, with canada, mexico, and the us confirmed as co—hosts for 2026. spain are in a "real" mess after a club versus country row. they've sacked their head coach just two days before their opening world cup match against the european champions. and we take a closer look at the host nation. russia are the lowest—ranked team in the tournament. but how far can they go on home soil? hello, and thanks for joining us on sport today. it's been quite a day in russia on the eve of the 21st world cup finals. we are also talking about the 23rd finals, because fifa members have voted for the united states, mexico, and canada to host the world cup in 2026. they beat off the bid from morocco and it will be the third time world cup finals matches will be in mexico, a first for canada, and a second chance for the us, where most games will be played. here's our sports news correspondent, richard conway.