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tv   Asia Business Report  BBC News  March 28, 2019 1:30am-1:46am GMT

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has told her mps she'll step down if parliament backs her deal to leave the eu. but the brexit process appears no nearer to being resolved. mps voted on a series of options, ranging from leaving without a deal, to revoking brexit. all were rejected. boeing says it's modifying the software in its 737 max planes following two deadly crashes in the past six months. the planes have been grounded worldwide, but boeing insists they are safe. and this video is getting lots of views on bbc.com. it's the popocatepetl volcano in mexico, sending up molten rock into the sky, and several hundred metres around. these pictures give you an idea of just how violent the eruption was. more on the bbc news website. stay with bbc world news. coming up in a couple of minutes on bbc news:
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could speeding be a thing of the past? proposals for vehicles to be fitted with devices to stop them going too fast. that is more to come. first here is rico. the brexit deadlock deepens. uk mps reject all eight alternative options for leaving the european union. 737 marks, they issue changes to the controversial control systems are linked to two fatal crashes —— max. it isa linked to two fatal crashes —— max. it is a thursday, everyone. good morning, asia, hello, world. how are you today? glad you could join us for another exciting addition of asia business report. i'm rico hizon. we start off with brexit. at another night of high drama in west
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mr uk mps have rejected all eight proposed alternatives to trees may brexit deal ——in westminster. she said she would stand down if parliament backs a plan to leave the european union. let us look at the currency boards in mid—morning trade and how this is impacting the pound. ba rely and how this is impacting the pound. barely changing on that news. earlier, i spoke with peter maguire from xm .com and he told me why, despite all the political directions, the sterling has remained relatively stable. directions, the sterling has remained relatively stablelj directions, the sterling has remained relatively stable. i don't think there has been any definitive movie from government and in turn that hasn't been interpreted from the market. the market has kept the range bound activity, that 130 the market. the market has kept the range bound activity, that i30 inch— range bound activity, that 130 inch— 132 sort of level. until you see something definitive coming from the brexit talks and the interpretation of the market then we will see something to push it to a different stage. what a definitive moment all events a re stage. what a definitive moment all events are investors looking for?
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they are looking for something to be a breakthrough. they are saying "do we see some move 01’ a breakthrough. they are saying "do we see some move or something definitive coming from government?" yes we are moving forward with brexit, we were interested when we saw that customs vote, it was very close in the sense of yes versus no. until we see something, next week will be a push forward. i think we will be a push forward. i think we will see movement than. with no alternatives and theresa may standing down, if, indeed, her brexit deal push it through, is this what's also keeping the pound stable? welcome i think it is. this will hold it for the next couple of week —— well, i think it is. she said may 22 will be the furthest point. i think we will see volatility over the next 4— five weeks. peter, this debate has been going on for almost three years. was still no certainty. is it further eroding business confidence in the uk? no doubt it is. there is no
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doubting that. to have such a landmark decision come through a couple of years ago as far as to leave, and that has been a work in progress to get to this point. march 29 was the decision date and we are working towards that. quite simply, this is not an easy task to get forward. and it's not surprising and i think the market understands that. is the market trying to understand, with or without the brexit deal, down the road the uk economy will survive. absolutely will survive. it has survived for probably a couple of,000 years and i think it will survive for many years to come. there is no shortage of confidence in the uk --,000 there is no shortage of confidence in the uk ——,000 years. there is no shortage of confidence in the uk --,000 years. they voted it out and that is where we going. if there is a brexit deal i think you will see volatility. you will see movement. it will go up and it will go down. it will be a website. it could be violent in its movement
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and in the forecast. —— whip so. that is what traders look for. currency expert peter mcguire. in aviation years boeing has issue changes to its controversial control systems into two fatal crashes of its 737 max kaye plains in the last few months. the firm is not sure when the planes will be allowed to fly. earlier this much and ethiopian airlines jet crashed after takeoff from addis ababa, killing all 157 people on board. flight data from that suggested similarities to a crash of indonesia last october, which killed 189 people. airlines and aviation authorities around the world made the decision to grant all of the 737 max 8 ‘s. garuda became the first to scrap an order for the model. boeing and giroud officials are due to meet later. boeing has
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reassured over the 737 airworthiness —— garuda. reassured over the 737 airworthiness -- garuda. the 737 max 8 safe aeroplane. the 737 max a safe aeroplane. the 737 max a safe aeroplane family. the 737 max builds on that tremendous history of safety that we have seen over the last 50 yea rs. that we have seen over the last 50 years. alice taylor, and aviation expert, told me when he thought the fixes were enough to fix boeing's damaged reputation —— ellis. fixes were enough to fix boeing's damaged reputation —— ellism fixes were enough to fix boeing's damaged reputation -- ellis. it will ta ke damaged reputation -- ellis. it will take a while for that reputational damage to be repaired. there are over 4000 of these max jets on order. so many lives have signalled they want to cancel. that is a difficult and expensive process to go through. it has to be the start ofa go through. it has to be the start of a process to regain trust in the 737 max brand. what we will see is a few years down the track we will probably help with these issues aside and hopefully from here on in this is the last of the major safety
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issues for the 737 max. with these fixes and software upgrades, do you think that the rudolph will consider the cancellation of its 737 max orders? —— garuda. the cancellation of its 737 max orders? -- garuda. ithink the cancellation of its 737 max orders? -- garuda. i think the cancellation is a little bit premature. it is a lot to work out how it will go through. i suspect the order will get switched into either another aircraft or they may pushit either another aircraft or they may push it further down the line and delay that for some time. the reader has had its own financial issues in the last year or two and they have already delayed delivery of most of their 737 max aeroplanes. it is very expensive to cancel these orders. their 737 max aeroplanes. it is very expensive to cancel these ordersm other business news, making headlines, a fresh round of trade negotiations between the well‘s two biggest economies takes place today.
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robert lighthizer and treasury secretary steve mnuchin have travelled to beijing for the negotiations. next week the chinese vice premier and chief negotiator are set to make the return trip to washington, dc. from the mid—19 90s onwards, london's so the house has helped property does make popular make popular private houses. they have open a club in mumbai and another is due to launch this year in hong kong. annual membership fees only thousands of dollars. what do these venues offer business people looking to broaden their network? sharanjit leyl explores the private members clubs here in singapore. housed in a building that's nearly a century old, it has been a hotel, a brothel, and now an exclusive members club. this is one of the founders of the straits clan. the
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one—time membership fee that averages $3000 and monthly dues it will buy you access to dining areas, bars, workspaces, a spa, a gym, and even the unexpected. welcome. it was important to think about what people enjoy here in asia, in singapore. he tells me that the strait clan has attracted nearly 1000 members in less tha n attracted nearly 1000 members in less than a year since opening its doors. we have had a look at what this one has to offer. let us look at what the others have in store. up an escalator, through a psychedelic tunnel, this club across town couldn't be more different. 1880 also offers its members a similar range of facilities and a private area to get away from it all. it's membership fees echo the straits
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clan's. what benefits to the members get? it is about uniting people through their passions rather than your socio—economics, what school your socio—economics, what school you went to, yourjob. whether you are an entrepreneur, creative, interested in social change, it brings a programme for you. 1880's founder, mark nicolson, inc clubs like these are the intellectual salons of today. you get very sideload in your industry and if you area sideload in your industry and if you are a banker you hang out with bankers, if you are a dancer, you hang out with dancers. i wondered where the place was where these wonderful people congregate. i think the quality of people in singapore is as high as it is anywhere in the world. 1880 has plans to open another clubhouse in the region. much like soho house, which these houses are modelled after, the manager process starts with an invitation to apply and screenings by committee. the private club formula has worked in london and now
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appears to be taking off in asia, creating new stomping grounds for a young business crowd looking to build networks and more. sharanjit leyl, bbc news, singapore. the business of a private members clu bs the business of a private members clubs in asia. let us have a quick look at the asia pacific markets. the downward trend of stocks overnight into the red, having a major impact on asian stocks. thank you so much for investing your time with us. i'm rico hizon. see you again soon. goodbye for now. this is bbc news the top stories this hour. theresa may says she will step down as prime minister before the next stage of brexit negotiations — if mp's back her deal. an attempt by mps to break the political deadlock has failed to indicate a clear way forward. they rejected all of the eight brexit alternatives in house
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of commons votes. "speed kills" that's the warning drummed into motorists from the minute they pass their driving test. but soon it may not be up to the driver alone. by 2022, the european commission wants all new cars to be fitted with devices to automatically stop people breaking the speed limit — although the driver could override it. the department of transport said the measure would apply in the uk. 0ur scotland correspondent, lorna gordon reports. for those with a passion for getting behind the wheel, rural scotland has winding roads and breathtaking views to enjoy. the vast majority of motorists are responsible and focus on their driving. there are signs to remind us of the legal limits, but speed is still a big killer. now technology to be fitted in all new cars could make speeding a thing of the past. i think it's a good thing. if people drive a bit more safely, i'm big on safety. i can't see that people will take
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to the idea of having their speed limited when they have the option of buying a second—hand car. it will make things safer, possibly may be in slower areas. here is how the intelligent speed assistant works. the car gets its position via a gps satellite along with the current speed limit. cameras could also read road signs to determine the maximum speed. the car is then limited to whatever the speed restriction is. but with the ability to override it and that is vital according to motoring organisations. when it comes to intelligent speed assistance, what we want to see are those elements when a short temporary burst of speed to get out of a sticky situation like overtaking a tractor, or coming out of a junction where they have misjudged it, that all of that kind of thing is built into the system and makes sure that the whole thing is safe. car companies point out that many vehicles already have sophisticated systems that limit speeds automatically.
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0nce set by the driver the car will brake itself to meet a specific speed. road safety campaigners say having these devices automatically fitted in every new car will be a big leap forward in making our roads more safe. they hope that with more than 1700 people killed on the roads every year, the new speed limiting measures will prove life—saving. lorna gordon, bbc news, on the roads around loch lomond. that is it from me. it is time for sport today. see you soon. hello — this is sport today live from the bbc sport centre. coming up on this programme: simona halep moves through to the miami 0pen semi finals and to within one win of regaining the world number0ne ranking. chelsea score a late winner against paris saint germain to set up a women's champions league
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semi finals against holders lyon. and australia beat pakistan by 80 runs to take an unassailable 3—0 lead in their five—match 0ne—day international series. hello and welcome to the programme where we start with tennis — and the news that simona halep is through to the semi—finals of the miami 0pen. she's now one win away from regaining the world number one spot. the number 2 seed from romania beat china's wang qiang in straight sets but she was made to work hard for the victory. halep won the first set 6—4 — and had to come from 5—1 down in the second, before sealing her place in the last four. she's through to the semis in miami for only the second time. in the men's singles, roger federer has claimed the last of the quarter—final places after beating daniil medvedev in their delayed 4th round match — held over from tuesday. federer — who's bidding to win the miami masters for a fourth time — came through in straight sets against the number 13

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