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tv   Asia Business Report  BBC News  March 20, 2019 1:30am-1:46am GMT

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parts of southern africa is possibly the worst weather—related disaster ever to hit the southern hemisphere. 1.7 million people were in the direct path of cyclone idai, in mozambique, zimbabwe and milawi. hundreds of thousands of people are now homeless and in desperate need of humanitarian help the funerals have begun for some of the 50 victims of friday's mosque attacks in christchurch. speaking to schoolchildren in the city, the prime minister said that the stories of those who died need to keep being told. and this video is trending on a group of skiers were caught by surprise as a ridge of snow collapsed under them. fortunately no—one was injured in the incident in the austrian alps, but the skiers did have to be rescued. and the top story in the uk: the british prime minister,
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theresa may, is writing a letter to the eu to formally ask to postpone brexit until the end ofjune, with an option for a longer extension. now on bbc news, live to singapore for asia business report. the crisis atjet airways grows. indian carrier fights for survival under the weight of more than $1 billion of debt. and came on for google. the tech giant launches its new streaming platform called stadia. hello and welcome to asia business report, i am karishma vaswani. the crisis at india'sjet airways is deepening. the country's increasingly worried government has called an emergency meeting, angry passengers are demanding refunds and
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pilots are continuing to strike over unpaid salaries. the carrier has now grounded six more aircraft as it struggles under the weight of debts totalling more than $1 billion. our india business reporter has the latest from mumbai. jet airways is struggling for survival and the situation is getting worse by the day. the airline has cancelled hundreds of flights in recent weeks and has grounded more than half of its aircraft fleet. it has more than $1 billion of debt and it has failed to make payments to the banks, employees who have not been paid for months and even aircraft leasing companies. some of them have even cancelled their deals withjet airways and taken their aircraft out of the country. the indian government has a state run banks to step in and provide some cash or some sort of relief to the airline some sort of relief to the airline so it stays afloat, because right now they essentially have no cash. at this point of time, jet airways has been talking to multiple investors, as well as lenders, to strike a deal, but until now they
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have not been able to arrive at a rescue plan. in fact, the airline was in talks with etihad airlines, which owns a stake in the airline. etihad had agreed to invest more in the airline and take control of the company, but the deal fell through after the founder of jet airways refused to step down from the board and the chairmanship. the situation has been described as fluid, and jet airways have been warned they might be forced to ground more aircraft in the coming days, which would lead to more flights being cancelled. however, it has asked jet airways to make sure they refund passengers whose flights have been cancelled over the coming days. analysts say the next few days are very crucial forjet airways, because it there is no fresh cash infusion, then the airline might have to completely ground its entire fleet. right now, it has no cash and it is finding it difficult to operate on a day—to—day basis. and that is why the government is actually asking the banks to give jet
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government is actually asking the banks to givejet airways some sort of money at this point in time, to keep it afloat. that is a story we will be keeping a close watch on for you over the coming days. in other news making business headlines, the uk prime minister, theresa may, is writing to the european union to formally ask for brexit to be postponed. one ministerial source has told the bbc the delay could be up has told the bbc the delay could be up to two years, amid reports of a cabinet row, but number ten said no decision had been made. eu brexit negotiator michel barnier said the eu would not grant a delay without a concrete plan from the uk about what they would do with that extra time. american and chinese negotiators are reportedly planning fresh talks to end a trade dispute between the world's two guest economies. according to the financial times and the wall street journal, according to the financial times and the wall streetjournal, citing trump administration officials, the us trade representative and the us treasury secretary steven mnuchin
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will fly to china to meet the chinese trade minister and they will pay a return trip to washington the following week. google has announced its entrance into the high—end video games industry. its new platform called stadia is a streaming service that, unlike traditional consoles, doesn't require gamers to download content or own it all on a disk. instead, games on stadia will be streamed over the internet. our north american technology reporter dave lee asked google ‘s head of stadia how the business model would work. we're talking specifics on the games business model today. our vision today is to share the platform, the technology, the integration with u—tube, the ability to see one game vision reach scale across multiple devices. of course, this might remove the need for people to spend money on consoles, which are expensive, but it does mean people will need to have very good internet connections, very expensive internet connections, for
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this to work fully. if i am a parent, i am looking at that and thinking wow, we will have to spend $100 or more a month for my child to play the games they want to do. this could be quite exclusionary on that point, no? we don't think so. we think that we stream at a number of different resolutions which match the bandwidth that you have coming into your home, and we use some very clever compression algorithms inside our data centres to make sure that we deliver the highest quality experience to you at the best possible bandwidth. of course, any gaming platform is only as strong as the games on it. there was a lack of games mentioned in that presentation. you will need a lot more, won't you, if you are going to convert gamers who are on other platforms. we absolutely know that content is key for any platform success. today was about showing our vision to the developer community ca re vision to the developer community care at gdc. we want them to start thinking about how they can bring
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their creativity and technology. do you have more on them on board? absolutely. how many more? i am not going to share that. aaa publishers? we started with ubisoft back in october and i think that gives you a strong indication of our direction of travel. the bbc's dave lee speaking with the head of stadia at google. the usjury has found speaking with the head of stadia at google. the us jury has found that one of the world's most widely used weed killers was a substantial factor in causing a man's cancer. bayer had strongly rejected claims that its glyphosate —based round—up product was carcinogenic but it contributed to causing non—hodgkin's lymphoma in a california resident. the next stage of the trial will consider the company's liability and damages. the us government has
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ordered a review of how boeing 777 max aircraft got approved to fly. there were questions from experts about clear similarities between the disasters. one focus of crash investigators has been the plane's anti— style system, which boeing says needs a software update. —— anti— stall system. some advertisers have taken their business of social media in response to the live streaming of the massacre in new zealand. australia has called for a global crackdown on social media companies. i asked a correspondent which companies have withdrawn their ads. the ones that we know that have definitely pulled their advertising our westpac and tsb. there have been several reports about several other banks such as abs or anz seriously
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suspending their advertising on facebook and google. there are rumours of many more companies. i have spoken to an advertising agency that confirmed that many of their clients have currently suspended their advertising on facebook. so yes, there is a lot of conversation about it. and what are some of the things that clients are saying, or advertising companies are saying, about why they are making this decision? i think it falls very much into the conversation that is happening at the time with the horrific tragedy that took place in christchurch and specifically the role of social media companies in proliferating the video that was live streamed on facebook around the internet, and people, consumers, the government, advertisers, asking questions about how that was allowed to happen and what sort of safeguards facebook and google have in place to stop it happening again, whether they are adequate enough. and people are sort of saying they are not right now. advertisers are saying they pay the money, they have the dollars, and they are making their voices heard and trying to
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impose some pressure on facebook and google to change the standards around their content. this is still in the very early stages of this boycott, if you well. what does it mean for companies like facebook and google if this trend continues? does it affect their bottom line in anyway? well, it certainly has an effect on them. from a brand reputation standpoint, neither facebook or google want to be associated with these sorts of things. financially, we have to remember that these are two the biggest companies in the world, they are worth hundreds of billions of dollars. that is not to say advertisers have no impact, their entire business model, facebook and google, are derived from advertising. if there is a ground swell and more of this occurs, this could have an impact on their bottom line. but the reality is, there is no other platform companies can go to to reach their customers online. right now in digital advertising, not so much. google and account for
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60% of the global advertising market. there are others on their way out, but that is ladies brands which impose suspensions of their advertising do come back once they see tangible evidence, in their minds, that facebook and google are making efforts to change. now, before we go, let's take a quick look at how markets have opened in asia this morning. you can see the neck a injapan down just a tad. hang seng, which isjust —— hasjust opened, down around 0.5% —— nikkei. thank you forjoining us on this addition of asia business report. this is bbc news. the top stories this hour: aid workers in mozambique are warning that 400,000 people there have been made homeless by the cyclone that struck last week. the funerals begin in christchurch for some of the 50 people killed in friday's mosque attacks.
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it is the international day of happiness today, when people around the globe are being urged to do what makes them happy, and spread a little happiness too. mark easton reports from northampton. britain is suffering from brexit blues, according to health experts and academics. there are warnings that economic uncertainty and political instability could damage the nation's mental health, but here in northampton, town leaders are working together to spread a little happiness. ifeel a little bit down. at a local surgery, dr david smart is regarded as a happy evangelist. for stress, anxiety and mild depression, he employs social prescribing rather than pills. choose one or two that are relevant to you. referring people to community support, based on the science of happiness.
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northampton's a great place, it has a great history. coming together, we think we can make a difference, and we hope we can share that with the nation. you want to make northampton happier? that's my ambition, yes. patients could be sent here — a happy cafe. the action for happiness hub that's been created in northampton, i've met so many great people. we are starting a happy hairdresser project. and here is a local hairdresser. when they leave the salon, ok, their hair looks great, but i want them to feel great. a woman being treated for cancer. i feel probably better than i did before the diagnosis, because i'm looking after my body. i'm doing mindfulness. traditionally, political leaders have seen economic growth as key to success at the ballot box, but are ambitious politicians right to focus on money? there is a correlation between cost of living and governments getting re—elected, a stronger one with the employment rate, and an even more powerful link with the growth in gdp.
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but one measure beats them all — national happiness. the happiness movement has leapt on these findings as proof that, if politicians want to get re—elected, their primary focus should be on the feel—good factor. i think, being a local politician, a national politician, everybody should always have that in their mind anyway. we're here to represent the people, to make them happy, and by making them happy, we need to deliver the services. there are ways to make people and places more optimistic, more resilient, and in this town, they're working on how to help people see a glass half—full rather than half—empty. mark easton, bbc news, northampton. hello, i'm tulsen tollett and this is sport today, live from the bbc sport centre. coming up on this programme... team sky becomes team inneos, but could this new major sponsorship deal lead to total domination in cycling? we reveal the biggest change in test cricket attire for 142 years, ahead of this year's ashes.
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and barcelona's women will play the opening leg of their champions league quarterfinal on wednesday, as toni duggan and co look to get past norwegian's lillestrom. hello there and welcome to the programme, where we start with cycling news, and there's one team that's dominated over the past few seasons, with a squad featuring bradley wiggins, chris froome, but team sky is set for a change. they'll now be known as team inneos, the company owned by their new sponsor, the british billionaire, sirjim ratcliffe. our sports editor dan roan brings us more. this will come as some relief, certainly to the staff of team sky here at the national cycling centre, and of course their fans, who, over the last few years, have seen this era of unprecedented success. the team has won the tour de france in six of the last seven years, with three different british riders.


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