tv Asia Business Report BBC News May 23, 2019 1:30am-1:46am BST
i'm kasia madera with bbc world news. our top story. the british prime minister's leadership crisis reaches new levels as a senior member of her cabinet resigns. andrea leadsom, leader of the house of commons, says she no longer believes theresa may's government can deliver brexit. another cabinet minister says it's "the end of the line" for her. vote counting begins shortly in the world's largest democratic exercise, as indian prime minister narendra modi attempts to see off challenges to his premiership and keep a majority. and this story is trending on bbc.com. the queen paid a visit to a replica of a supermarket to mark its 150th anniversary. it's thought to be only the third time that britain's monarch has visited a supermarket. that's all. what's more on our website. —— a lot more.
stay with bbc world news. and the top story in the uk: british steel has been placed in compulsory liquidation putting at least 5,000 jobs at risk. it follows a breakdown in rescue talks between the government and the owners. now on bbc news — live to singapore for asia business report. no more tariffs for at least a month? the us treasury secretary ex presses month? the us treasury secretary expresses hope that trade war talks with china can get back on track. getting real with the rupee, we'll assess the economic challenges for the world's fastest growing economy. it's thursday! good morning asia. hello world! glad you could join us for the saturday edition of asia business report. i am rico his on, we start off with steven mnuchin
saying he won't impose any more ta riffs saying he won't impose any more tariffs on china for at least another month. he has been testifying in washington, dc, and hopes that the world's two biggest economies can make it back to the negotiating table as reverberations of the trade was spread. providers in the uk have dropped highway handsets because of restrictions in the us —— highway. this is more of a olive branch than we have seen recently. he said two key things, said he was hopeful that both sides would come back to the negotiating table soon. he even mentioned the possibility of resident champ and president she meeting soon —— uttar pradesh. you may remember that
deviously talks deteriorated at the beginning of this month. they are hoping that those can get back on track. the second thing he mentioned was a new round of tariffs, something that president trump has written don another $300 billion of chinese goods, that that isn't going to come in effect for at least another 30—45 days. the us goes through a consultation process with industry before it puts on any new tariffs, so that as part of this process , tariffs, so that as part of this process, but it was a bit of signalling to businesses that, don't worry, this isn't going to be instantaneous. but the real key thing about this round of tariffs is it is focused on consumer goods. everyday americans are more likely to feel the impact of these tariffs on their wallets. earlier we spoke with chrisjen, on their wallets. earlier we spoke with chris jen, us on their wallets. earlier we spoke with chrisjen, us ambassador, now ata with chrisjen, us ambassador, now at a think tank. he says china's behaviour is at the heart of this
dispute. the process they go through to put in tariffs, i think what is more important is the secretary of treasury's line, his statement, it's not about tariffs, its about china's behaviour. at the end of the day, the bowl remains in china's god. —— of the bowl. —— simply remarked —— ball remains in china boz mccourt. —— uttar pradesh. and it's notjust about treating us countries, it's about treating us countries, it's about asian countries. what do you think will bring both economies and both leaders back to the negotiating table? for me, as a business person who has been in and out of china, it comes back to china's own behaviour and ability to come up with a
face—saving way for president sheeting being an president trump to say they have one and come forward —— xijinping. it's also difficult for china because of the young and square for china because of the young and square massacre anniversary for china because of the young and square massacre anniversary “— tiananmen. will donald trump through the whole kitchen sink on old chinese products entering the united states —— all? will they be under scrutiny and under tariffs?” states —— all? will they be under scrutiny and under tariffs? i think that he has made that clear that that he has made that clear that that will be part of his intent. and again, it's because of chinese behaviour. why are we even in this situation? how do we take a step back? i think it's by addressing some of the long—term concerns of not just the some of the long—term concerns of notjust the us, but many companies, asian companies have had about china and its unequal treatment of chinese
companies. the oecd said it could affect 0.7% of global gdp by 2021, this is definitely a fair warning. affect 0.7% of global gdp by 2021, this is definitely a fair warninglj this is definitely a fair warning.” saw a this is definitely a fair warning.” sawa similar this is definitely a fair warning.” saw a similar statement out of the imf, she was one of our speakers in la, but she said these tariffs are not overall a good thing when you look at the macro — the overall impact on economies, but the impact on individuals, it's kind of ironic. some people say now what china is accusing the us of doing is what china has long done. is china getting a taste of its own medicine now by trump and his actions? —— trump. in just now by trump and his actions? —— trump. injust a now by trump and his actions? —— trump. in just a few hours' time, we will be finding out which party will
ta ke will be finding out which party will take over india's parliament. the votes are being electronically counted after a five—week collection. in india, problems of an economic slowdown and high unemployment rates. monica, what are some of these key economic challenges? well, the world's largest democratic exercise has millions of new voters between the ages of 18 and 19. jobs as their priority. the government will have to employ1 priority. the government will have to employ 1 million priority. the government will have to employ1 million people each month. india is experiencing an unemployment rate the highest it has beenin unemployment rate the highest it has been in 45 years, 6.5%, the current government denies the statistics. moving to agriculture, it is the largest employer in india. its workforce makes up half of india's 1.3 billion. there have been promises to double their salaries by
2022 and in some states they want to offer interest—free loans. both parties have pledged billions of dollars to pay for these programmes, however tax collections have all short and they have missed their target this year so far. the other thing is with brent crude above the $70 mark, oil is going to be a major challenge, especially as those prices fluctuate, mostly on the high end there. india is a oil import —dependent country in the state run fuel surprise have hold of, —— fuel supplies, india has held a 7% expansion rate, making it the world's fastest growing economy. however, some say it is following a global trend in showing signs of slowing down. later number of economic issues the new administration to deal with. thank you so much for that up day, monica miller. well, profit rise of
countries —— companies with women at the head of the organisation, that was from a survey that survey there are 10,000 companies in 70 countries. almost three quarters of firms that track gender diversity in their management report profits increasing between five and 20%. the benefits are only seen when women account for 30% of leadership roles. some say more than half of these companies don't meet this target. some say more than half of these companies don't meet this targetm ta kes companies don't meet this targetm takes more than just having a great gender policy, it needs to be implemented and followed through with a message from senior leadership that this is how the business wants to run itself. deborah mass in france from the international labour organisation. moving to other business making
headlines, ahead of america's air regulation says there are no plans to get the boeing 737 max back in the air. it was grounded in march after two fatal accidents within five months. they say are yet to they submit the safety upgrade they have been working on for approval. the faa will meet later today in texas. the french finance minister has called for a rebalancing between renault and nissan. they are part of an alliance with this too busy —— mitsubishi. control of the alliance has been under scrutiny since mr ghosn was arrested under financial misconduct charges in november. he is back in a tokyo court today.
amazon has seen off a shareholder rebellion over its facial recognition technology. investors rejected a proposed and on selling the kid to us government agencies. the company says it is useful for catching criminals, preventing crime and finding missing people. civil rights and pain is have a size that is perhaps the most dangerous surveillance technology ever developed. let's have a quick look at the markets. us stocks falling back into the red overnight, putting equities down for three of the last four sessions as investors reacted to reports of a possible new us—china trade friction. thank you so much for investing your time with us. sport today is coming up next. just before sport today, let's bring you up—to—date with the main stories this hour. calls for the uk prime minister to resign as the commons leader quits the cabinet, saying she no longer believes the government's approach will deliver brexit.
and vote counting begins soon in the indian election and it looks like prime minister narendra modi is on course for a second term. the parole board has ruled that one of britain's most notorious criminals, kenneth noye, should be released from prison. noye is serving a life sentence for stabbing to death 21—year—old stephen cameron in kent in 1996. the parole board says he "no longer poses a risk to the public" as our home affairs correspondent tom symonds reports. 1998. kenneth noye, smiling, but his time on the run in spain had come to an end. two years earlier, 21—year—old stephen cameron got into a road rage argument with noye, a notorious criminal. noye stabbed him to death. he'd just finished a sentence for helping the brink's—mat robbers hide their stolen gold. 19 years later, he is to be freed from an open prison in kent. the parole board said he had
addressed his tendency to use violence in certain conditions, and he'd demonstrated maturity about his situation, as well as greater insight into his past behaviour. stephen cameron's mother died three years ago. his father ken wrote to the government demanding noye not be released. today he told us he was "gutted". we can now read why kenneth noye has been released, because of pressure on the parole board to publish its decisions. and in two months‘ time, the ministry ofjustice will launch a scheme which allows victims of crime to appeal, if they don't agree. but too late for stephen's family. kenneth noye is being freed because the parole board believes he's no longer a threat to the public. tom symonds, bbc news. the united nations general assembly has overwhelmingly supported a resolution, demanding that britain cede control of the chagos islands to mauritius. the international court ofjustice
had previously said the islands in the indian ocean were illegally split from mauritius in the 1960s, when the country gained independence. itv says love island contestants will be given mandatory therapy sessions as part of their enhanced duty of care procedures. it follows calls for the show to be dropped in the wake of the death of a guest who took part in thejeremy kyle show, as well as two of love island's former contestants. now islanders will have more detailed discussions about the potential impact of the programme on their lives and bespoke training on social media and financial management. now on bbc news: sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: fifa confirm the next world cup in qatar won't be expanded to 48 teams. they left it late, but holders kashima antlers squeeze through to the last 16
of the asian champions league. and australia's caleb ewan claims a second win at this year's giro d'italia, taking stage 11 in a frenetic finish. hello and welcome to the programme, where we start with the news that plans to expand the 2022 world cup to 48 teams have been abandoned by fifa, after a thorough and comprehensive consultation process. fifa president gianni infantino said last year the expansion from 32 teams could be brought forward from 2026 to the 2022 tournament, but the change would have required qatar to share hosting duties with other countries in the region. the 2026 world cup will still increase to 48 teams, though, as planned. 0ur football correspondent john murray has more. 0ver over two years ago, fifa voted