tv Asia Business Report BBC News August 3, 2018 1:30am-1:46am BST
this is bbc news. our top story — emmerson mnangagwa, zimbabwe's incumbent and zanu—pf candidate, has won the presidential election. mr mnangagwa says he'll try to bring a divided nation together. the results are being announced province by province. earlier, zimbabwe's main opposition leader, nelson chamisa, said that he had won — in a vote now marred by controversy and violence. apple has become the first company to reach a trillion us dollars in market value. company shares peaked on the new york stock exchange. and this video is trending on bbc.com. one of australia's biggest supermarkets, coles, has reversed a decision to stop giving customers free plastic bags following pressure from some irritated shoppers. other consumers say the ban was good for the environment. that's all. stay with bbc world news. and the top story in the uk: interest rates have been raised by
one quarter of a point. it means that higher mortgages are some. now on bbc news, live to singapore for asia business report. it is official. apple is the world's first public company to be worth $1 trillion. and find out why businesses in the us are turning to teenagers to get the job done. hello and welcome to asia business report. well, apple is now the world put that most valuable publicly listed company. shares in the iphone maker closed at a new record high of $207. allowing the company to beat silicone valley rivals like a pro two and microsoft to be the world ‘s
first company to be worth a cool trillion dollars. shares have been rising since tuesday when it reported much better than expected result for the months up untiljune and paul blake says investors have confidence in the company. we know about this growing trade dispute and we have talked about it a conscious of it and —— apple manufacturers lot of its products in china and sells a lot of its products in china and that presents quite a big risk. despite that, crossing that $1 trillion mark and it has come after weeks and months of anticipation. we have seen share prices go up 30% over the last year and asset getting closer to that mark. get has been anticipation about whether amazon would beat apple. when you consider, for in inflation, there have possibly been other companies that have gotten over the mark in the us before. the
story here is about that investor confidence and the fun story to follow and today because we are closer closer to it, the networks get closer showing it get over, but the impact for consumers, fairly minimal. now picture this. google's search engine available in china but with a filter that will censor results to meet demands from the government. it has been the talk of the industry, quite surprising for a company that has this on its website as its code of conduct. it says... now, if google were to get the green light to operate in china within the mainland censorship rules, what would it mean for google's brand value and its revenue stream? last year they made over will $195
billion in advertising revenue but it is said the company is caving in to demand. i think it is something that it will have to manage very carefully. the upside to the brand in terms of the market is phenomenal. it is the world ‘s largest internet population and who will almost cannot afford —— google almost cannot afford to be there. it like to manage its brand carefully so like to manage its brand carefully so much that damage doesn't occur. it isa so much that damage doesn't occur. it is a real risk for the brand, despite its size. using people will start to trust it less because of this? —— do you think people. it seems to have something of a do—gooder image. seems to have something of a do-gooder image. i think it has moved from do no evil to do the right thing. it has pulled back a little from that already anyway. it certainly does have a brand promise about access to freedom of available information. it will take a dent to its brand in that, i think.
pragmatically and from a business point of view you would have to argue that it cannot really afford not to be there. it will have a first mover advantage, entering a market of that size. later today we will hear from one of the world ‘s biggest automakers and how it is faring in rising protectionism. we are talking about toyota. even though are expect to remain healthy, the company faces several challenges and had. the us is its biggest market by far and the prospect of tariffs on car imports is worrying people at toyota. in addition, rivals pulling ahead in another key market, china, and fluctuations in the japanese yen are looming. janet lewis expects it earnings will be flat. they have
done a good job in the us market of reducing their incentives, but the japanese market, which is very important for accurate too, has been somewhat sluggish ahead of launch of new models. we know that almost half of the top sellers for toyota in the us come from outside the us. so how ha rd us come from outside the us. so how hard is the impact of the trade ta riffs hard is the impact of the trade tariffs at the moment hitting automakers like toyota ? tariffs at the moment hitting automakers like toyota? at this moment, the only tariffs are fairly modest ones on aluminium and steel. that has raised some of the market prices in the us. overall it is a very modest impact. i think the bigger materials impact has been general material prices, increases going up like resins. and to some extent you are seeing that have an impact, but most of the automakers have been focused on cutting cost and in the case of honda, they
offset it. i would expect something similar from offset it. i would expect something similarfrom toyota. offset it. i would expect something similar from toyota. the loss of nafta, you think that will actually have a more damaging effect on car makers like toyota, why? toyota and otherjapanese makers like toyota, why? toyota and other japanese automakers have makers like toyota, why? toyota and otherjapanese automakers have a strong otherjapanese automakers have a strong presence otherjapanese automakers have a strong presence in northern america, including canada and mexico. they would also be devastated by substantial changes to nafta. it would have a big impact. toyota would have a big impact. toyota would be exposed if there were just ta riffs would be exposed if there were just tariffs on japan, would be exposed if there were just tariffs onjapan, because it does export a fair amount from japan, but mostly the major changes to nafta would hurt even more. briefly, we have talked about how to how —— hywel toyota is doing in the us and in its domestic markets, how has the been performing in other markets?m is doing extremely well in china. it has been lagging honda and nissan a
little bit, but capacity in the chinese market has led to double growth. it is also doing well in other parts of asean, particularly thailand, that should be supportive because margins in asean tend to be pretty good. turning to the us economy now, we will be getting july jobs figures on friday. they are expected to show the country remains at levels that are considered to be full employment. for more workers looking tojobs, businesses full employment. for more workers looking to jobs, businesses are turning to teenagers as young as 16 to kill open positions. for the first time in nearly three decades, the number of teenagers in the us workforce is growing, that is as young people choose work of a pricey university education. if you have taken a flight recently, there is every chance danny moore has paid —— played a part in a
leaning. he is holding widgets for the brake systems. is a job that has helped his career take off. the brake systems. is a job that has helped his career take offlj the brake systems. is a job that has helped his career take off. ijoined the military, the marines, that wasn't working out to me. i had no idea what i was doing. i was lost. i really do enjoy working with my hands, working with staff and fixing things. before i was broke and i am now taking money. demand for components is heating up in the factory has to operate around the clock to fill orders from the likes of bmw. wherever possible, robots are enlisted to help. but much of the intricate work has to be done by hand and in an area with few jobseekers, findings staff is hard. retaining them is even harder. they can walk down street and there are nine other sides looking for hiring. that hurts us a little bit, but those that stick have opportunity for a rewarding career. with the exception of hawaii, new hampshire
has the lowest unemployment rate in north america and one of its three residents rick approaching retirement age, the state desperately needs young people to enter the workforce, which is why it politicians want to allow teenagers as young as 16 to work as much as a0 hours a week on a even during term time. critics say this will distract from schoolwork and could weaken child labour protections. at many teams are often to stay in employment, rather than accumulate student debt. the man who sponsored the legislation thinks they should be encouraged. we have employers who say i have got these kids, great workers, shot up on time and do a wonderfuljob, but they are limited by how many hours they can work. there are still plenty of kids in our state that's eight i am not sure i plan to go to college, i like making money, iwant i plan to go to college, i like making money, i want to be independent. danny says he's looking forward getting off nightshifts and forward getting off nightshifts and for the first time in at least a generation, it is teenagers like him
that get to dictate the terms of. let's ta ke let's take a look at the market in asia. in tokyo and the all ordinaries in australia both higher. a lot of suppliers over injapan and elsewhere in asia getting a big boost for the fact that apple, the company they supply too, hit $1 trillion in market cap. we are seeing the all ordinaries doing well because of energy prices, higher. that is it for our edition of asia business report. thanks for watching. this is bbc news, the top stories this hour. the big announcement zimbabwe's been waiting for, emmerson mnangagwa is the new president. apple has become the first company to reach a trillion us dollars
in market value. a report has found that there were missed opportunities to protect an 18 month old baby girl, who was murdered by her adoptive father. cardiff and vale's safeguarding children board has apologised, following the death of elsie scully—hicks, who died in may 2016. sian lloyd reports. elsie was 18 months—old when she was murdered by her adoptive father. matthew scully—hicks was sentenced to 18 years in prison. his violent attacks had left her with a fractured skull, broken ribs and a fractured leg. today a report was published into whether lessons could be learned from her death. there were missed opportunities to raise safeguarding concerns. for this, all agencies involved in elsie's care would like to sincerely apologise. the report also found that the adoption was viewed as very successful. opportunities to explore elsie's injuries were missed, and information was not shared between agencies.
together with his husband, matthew scully—hicks had already adopted one child, and the family were known to social services. the report says the couple were seen through a positive lens by social workers, who hadn't always questioned elsie's injuries or recorded them. why was there this lack of professional curiosity, because there is a duty on social workers to be asking questions, particularly round injuries they can see during an adoption process? that positive lens meant they weren't looking in the way they should have been, and so you're right. that's something they should have done, that's something we have as an organisation recognised, we have taken that fully onboard. children's charities say lessons must be learned. some resolution needs to be found, so that information is shared. but the other thing is that basic social work premise of questioning, and having professional curiosity about what you're being told. elsie was treated here at the university hospital of wales on a number of occasions, but they didn't spot
that her injury had been inflicted. now, changes have been introduced to ensure that any child brought here under the age of two for an x—ray will be seen by a specialist, who will assess whether the injury is non—accidental. in all, nine recommendations have been made to prevent opportunities to save other children being missed in the future. sian lloyd, bbc news, cardiff. hello, this is sport today, live from the bbc sport centre. coming up on this programme: virat kohli keeps india in the opening test against england with a brilliant innings of 1a9. australia's minjee lee leads the women's british open by a stroke heading into the second round at royal lytham & st annes. and reigning champions the netherlands join unfancied
ireland in making the semi—finals of the women's hockey world cup in london. hello and welcome to the programme, where we start with cricket news and england will take a slender 22—run advantage into the third day of the opening test against india at edgbaston on friday. it could have been a much larger lead had the home side been able to dismiss indian captain virat kohli who scored more than half his side's total, and watching was patrick gearey. what a day of test cricket that was, the momentum went one way and then the momentum went one way and then the other and then back again. india started on top, they managed to take the final wicket of england's first—innings within the first five minutes. 287 all out, sam curran the last man to go and we will see more of him.