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tv   Asia Business Report  BBC News  April 10, 2019 1:30am-1:46am BST

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are projected to have enough seats to form a government. both the main candidates, prime minister benjamin netanyahu and former military chief benny gantz have claimed victory. european union leaders are moving towards extending britain's brexit deadline beyond friday, as theresa may pleaded her case in paris and berlin. draft proposals seen by the bbc leave the extension date blank for eu leaders to fill in on wednesday. and this video is trending on japan's emperor akihito and empress michiko mark their 60th wedding anniversary. on the 10th april 1959, he became the first imperial heir to wed a commoner. he'll retire at the end of the month. that's all. and the top story in the uk: the sports direct owner mike ashley says debenhams move into administration is a "national scandal", and has called
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for the process to be reversed. now on bbc news live to singapore for asia business report. global will slow down. the imf cuts as growth forecast to its lowest levels of the financial crisis. as global slowdown. any election countdown. a day to go until voting begins, whyjobs are such a hot campaign topic. hello and welcome to asia business report. we start with the global economy. the international monetary fund has cut its growth forecast for this year to 3.3%. the lowest level since the financial crisis. the chief
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economist also warned over the good negative effect of trade wars. the impact of tariffs show up in multiple ways. just the contraction and trade that happens which we did observe but the biggerfactor is with respect to confidence with the one with take into account competence effects, business and consumer, the impacts of global growth is even sharper. are you more concerned right now about trade tensions between the us and china or the prospect of trade tensions between the us and europe? we are concerned about whether there will bea concerned about whether there will be a durable solution to the trade tensions between us and china, and that it might spill over to other countries and sectors, which could be damaging for global supply chains. when a lesson to you talk to your talk, a lot of the prescriptions or advice you have been given to governments around the world it seems like policymakers have to thread the needle carefully. —— when i listen to you talk. to avoid any further abscess to the global economy. how close are we to
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the potential for a recession for example ? the potential for a recession for example? this is a delicate moment for the global economy. and while we expect a recovery, that recovery will come about through a recovery in an emerging markets. like argentina and turkey, stressed economies, that recovery to happen, it isa economies, that recovery to happen, it is a part of the global environment stay stable and that is what we are worried about which is why we want policymakers to do no harm it to be very careful with the decisions they make. that was the that i imf chief executive. majel the limerick michele dummy early about the key message from the imf. as they were talking about this downward revision towards global growth, when it is they think they highlight that was trade tensions. —— michellejoined highlight that was trade tensions. —— michelle joined me highlight that was trade tensions. —— michellejoined me earlier to talk about we look at what was driving down global growth, you have slowdown and forecast for chinese growth, and also in its forecast for us growth. and it warrants that if there are a tariffs but i'm good, it
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could have about the economy severely, so it was urging politicians to find some resolution. —— on these goods. but also on the horizon and prospective tensions between the us and europe. a lot of worries about those tariffs. it appears, but what was their key concern. they did highlight some of the positives that we have seen. and that was the action of central bankers in the case of the united states we have seenjerome powell hit the pause button, that really helps support financial markets, but the fun warns that right now, every session is not inevitable, but it is precarious because politicians could mess up the situation wasn't one of the reasons we just talked about, trade tensions, and other, brexit, the implications of that, and so the keyword the imf, they are trying to sound the alarm on it really lies
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and rest well politicians in terms of what happens next with the global economy. michelle in washington, dc for us. in other news, making business headlines, born kay said that it did not get orders for a 737 jetliner and march. —— at boeing. the first month without a sale of the best selling plaint in almost seven years. the company also set a deliberate ii seven years. the company also set a deliberate 11 up to 737 max just last month, less than half of brick deliveries. that's it delivered up to that is as the airlines and suppliers contend with a global grounding of the plan after two fatal crashes. let's turn to try to bankers being fined $1.1 billion for violating us sanctions against iran in over inadequate financial crime controls. the penalties imposed in connection with the range of different investigations in the us in the uk all day back to before 2014, extended charter has also undertaken to improve its compliance procedures. that standard try to
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front up chairs in levi strauss have risen and extended trading in new york, as the iconic teams make a release its first earnings since returning to the stock market last month left the company said revenues had risen by 7% to $1.4 billion. we arejust a day had risen by 7% to $1.4 billion. we are just a day away from the first phase of the indian election. now as the worlds biggest democracy marcos he heads to the polls, jobs are a key campaign subject for the prime minister slept a power in 2014 on the promise of creating millions of newjobs the promise of creating millions of new jobs but the promise of creating millions of newjobs but as we see from the city, even as the economy grows by 7% a year, unemployment is at its highest since the 1970s. in the apartment millenials, hoping for a breakthrough. —— back in the millenials. at thisjob breakthrough. —— back in the millenials. at this job fair in the
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indian city of kochi, nearly 5000 graduates are looking to get employment. —— india the apartment just 250 will leave with a job. it isa similar just 250 will leave with a job. it is a similar story across the country. in the get is in the midst ofa country. in the get is in the midst of a jobs crisis. and young people are hoping for their fortress to change. —— india is in the mist. translation: i have been 250 job interviews but company say they are looking for with experience. i really need a job as my family is going through financial problems. really need a job as my family is going through financial problemslj had going through financial problems.” had experts but there are many people working for less salaries, the problem they are not many opportunities for them. that i had experience with that they need to create, 10 millionjobs every year. to observe its young workforce. it is the only people with the university degrees that are struggling to find employment. most indians work for informal industries, but even in that segment, there is a huge loss of jobs. one such informal industry is
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construction. which is the second largest employer of people after agriculture in the country. but this one industry among many that have been going through a slump relating tojob been going through a slump relating to job losses. according to a leaked report, the unemployment rate touched a 45 year high, between 2017 and 2018. the government says the report is inconclusive. but one private company that tracks the data estimates more than 2 million jobs we re estimates more than 2 million jobs were lost in 2018 alone. the biggest problem is that india has faced a continuous decline in investments. the government itself does not create jobs. the government has to create jobs. the government has to create situations enabling conditions that will motivate people to events which will create jobs. they are expected to continue growing at a fast pace, becoming the third largest economy in 2030. and the young job—seekers could play a key role in that court. more than
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50% of the population is under the age of 25. but unless there are enoughjobs for them, age of 25. but unless there are enough jobs for them, and the epos my greatest asset to become its greatest liability. —— india possibly greatest asset. the uk prime minister is on a mission to avoid eight no—deal brexit injust three days. in the last 24 hours, theresa may has met with the leaders of the european union to most powerful nations and heads to an emergency summit today. marika is here to help us navigate this pivotal week for how britain and the eu ministers. that is right. the deadline day is getting very close. it has been a very busy week for theresa may as she travels across europe in search of an extension to this long drawn divorce from the eu. as you mentioned, she met with german chancellor angela merkel as well as french president emmanuel macron on tuesday to get their
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support, the two leaders said mrs may it would need to give credible reasons and clear alternatives if they wanted a further delay. business may well then head to brussels on wednesday later today where she will be meeting with the european leaders. they will be deciding on whether to grant the uk and another brexit extension, this time to the 30th ofjune. if deq denies them an extension, then on friday, the uk would have to leave the european trading block without a deal in place. but european council president donald tusk has suggested offering the uk a flexible extension up offering the uk a flexible extension ”p ”p offering the uk a flexible extension up up toa offering the uk a flexible extension up up to a year, what is meant up as flex tension. with the option of leaving early or if a deal is ratified. if the eu decides to grant the extension, the uk lawmakers would need to take part in the european elections scheduled for the 23rd of may. so we will continue monitoring the situation but it
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looks like mrs may might be able to avoid the no deal situation. let's hope. thank you. let's take a look at those markets before we go. they are down quite considerably. you can see that almost at 1%. taking his cue from wall street. those comments from us president donald trump about putting more tariffs on eu products didn't help and of course what we we re didn't help and of course what we were talking about earlier about global economic forecast from the imf wasa global economic forecast from the imf was a much less then a rosy analysis impacting sentiment. that is that for the for watching. —— that is it for the programme. thank you for watching. this is bbc news, the top stories this hour. they're claiming victory, even when the race is too close to call. both candidates in israel's election say they've won. eu leaders move towards extending britian's brexit deadline as theresa may makes her case
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in paris and berlin. the ministry ofjustice has confirmed that 13 prison officers had to be taken to hospital at the weekend, after being assaulted by teenagers at feltham young offenders institution in west london. prison officers have said recent changes in the treatment of inmates who misbehave are partly to blame for increasing tensions. a man labelled as one of the uk's most prolific cyber criminals has been jailed for nearly six—and—a—half years. zain kaysurfrom east london, made hundreds of thousands of pounds by blackmailing users of pornographic websites. dominic casciani reports. cashing out in a london casino, this is zain qaiser, one of the uk's uk most prominent and wealthy cyber criminals. the university dropout hit upon what he thought was the perfect online crime that nobody would report as he reaped the rewards.
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qaiser placed fake adverts on popular pawn websites, and as thousands of users clicked, machines locked up fake prosecution warnings. people thought they were under investigation from british police, the fbi and others. users could pay a small fine to get their computer back, and thousands did so, in the fear that their habit would be exposed. national crime agency says he hit millions of computer users... with the help of a russian gang. i would regard this as the most significant cybercrime offender that the national crime agency has investigated. why is that? the sheer volume and complexity of the actions he has undertaken. the number of people he is connected with worldwide. the complexity of the malware he deployed and the success of his operation. judge timothy lamb qc said there was no equivalent case anywhere in the uk. qaiser had styled himself, "the king of the internet" and caused untold damage around the world. he has shown no remorse
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and dragged out his prosecution at great public expense. qaiser is seen here in a london internet cafe and was caught after one of the companies he exploited raised an alarm. key to his conviction were these meticulous monthly logs of his profits, discovered by detectives. today, £700,000 had been traced out of an estimated £4 million, and if he does not disclose where the rest went, he faces even longer in jail. dominic casciani, bbc news. much more on the story online. and the results from the israeli election. too close a call at the moment. don't forget you can get in touch with me and some of the team on twitter — i'm @bbckasiamadera mike will be here at two o'clock. now on bbc news, sport today. hello, this is sport today, live from the bbc sport centre.
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coming up on this programme... quadruple doubts as manchester city are beaten at tottenham in the first leg of their champions league quarter final. marouane fellaini scores for shandong luneng in their asian champions league win. and tiger woods gets set to bid for a fifth green jacket at augusta when the masters gets under way on thursday. hello and welcome to the programme where we start with the uefa champions league news that manchester city's bid for a quadruple of trophies is in danger of falling apart. that's after tottenham beat them 1—0 to hold the advantage after the first leg of their quarter final but it came at a cost with captain harry kane limping off and the bbc‘s ian dennis was watching. mauricio pochettino apartment players deliberate and the biggest match of his managerial career. totte n ha m match of his managerial career. tottenham created the better chances but after harry kane hobbled off with an ankle injury, city had started to get on top.


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