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tv   Asia Business Report  BBC News  July 12, 2019 1:30am-1:46am BST

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lawyers for the families of those who died in the boeing 737 max say they have been cheated out of compensation it's after the bbc discovers many families who lost loved ones were persuaded to sign agreements that prevent them from taking legal action against boeing. donald trump says they will leave no stone unturned as he issues an executive order asking government agencies to provide information to determine who is, and who isn't a united states citizen. and this video is trending on a waterspout spins over lake pontchartrain in new orleans as the city braces for a hurricane. tropical storm barry is forecast to hit on friday. that's all. stay with bbc world news. more on our top stories
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on the bbc news website. you can also download the bbc news app to personalise your experience and receive the latest news alerts. now on bbc news live to singapore for asia business report. getting robot ready. glamazon‘s $700 million plan to future proof its workforce in the face of new technology. mission to delhi. the us and india are said to restart negotiations in a bid to resolve their trade conflict. good morning asia, hello world. it is friday thank you forjoining us for an exciting addition of asia business report. we kick off the programme with amazon because it is unveiling plans to retrain one third of its us
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employees or 100,000 people by 2025. the programme is among the biggest corporate retraining initiatives ever announced at a cost of around 700 million us dollars. the online retail giant's announcement comes as companies around the world grapple with the impact of robots and artificial intelligence on their workforces. earlier dave lee told me why the firm is under kate taking such a huge project. this company knows it needs to change what able to do. is on as a company that stands accused of adding automation and different practices to its business at the risk of losing human jobs. so what is on a saying here is that far from getting jobs. so what is on a saying here is that farfrom getting rid of jobs. so what is on a saying here is that far from getting rid of these people, as some fear, they are investing heavily in reskilling them, specifically they want to more mapping specialists, data scientist, business analyst, logistics co—ordinators, an important role for
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amazon, and some other roles as well. it will cost them a lot of money, $700 million and they will traina money, $700 million and they will train a lot of people, 100,000 people, one third of their overall us workforce. you would think that if this is successful in the us they may look to do it across the world as well. in terms of amazon's ambition, as you say, this is about them acknowledging their business is changing quite considerably and they have to make sure the humans they employ are able to move with those changes as well. that was dave lee in san francisco. shifting out of the global trade wars because negotiators from india and the us are set to meet in delhi later today. this, as two sides attempt to find common ground on a wide range of differences. america is india's largest trading partner however relations have deteriorated after both sides hit each other with tit—for—tat tariffs. i'm joined now
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by mariko. what is happening?m feels like we're talking about trade especially between china and the united states but as you mentioned, tensions between india and the us have also been on the rise. that is after the trump administration ended what is known as india's preferential trade treatment last year. that agreement used to allow 5.6 william dollars worth of indian goods to enter the us market duty—free. that when that was removed, india retaliated by raising ta riffs removed, india retaliated by raising tariffs on 28 american products in june. president trump definitely was not happy. so that will likely affect a trade relationship between the two countries which actually hit a record at $142 billion last year. but india had the better side of the deal by having a surplus of over 24 billion. so washington says the main
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reason behind this trade imbalance is the nationalist policies of indian prime minister lorenzo moody who was recently re—elected. it is not just about tariffs. the who was recently re—elected. it is notjust about tariffs. the us says his administration has imposed tighter controls on foreign firms which are trying to enter india's fast—growing e—commerce market. the two lea d e rs fast—growing e—commerce market. the two leaders met last month at the 620 two leaders met last month at the g20 summit injapan and the us president said they were working through the differences butjust this week he said india's hi tariffs we re this week he said india's hi tariffs were unacceptable. so we will see if they can come to some kind of happy agreement on this one.” they can come to some kind of happy agreement on this one. i hope it happen sooner rather than later. hopefully it will be a merry christmas in 2019. thank you so much mariko. turning our attention now to what is being hailed as the biggest share sale of the year, as investors are bracing for the pricing of
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wiser‘s asian business ahead of next market's market debut. the sale is key to the world ‘s biggest brewer, reducing its more than $100 billion worth of debt. earlier i spoke to an a nalyst worth of debt. earlier i spoke to an analyst and asked him why hong kong had been picked for the public offering. the basic issue is that they are looking to issue the stock in asia on an asian stock exchange so there could be a prelude for acquisitions of asian brewers using the currency in the terms of the stock markets of asia. you mentioned acquisitions and chief executive said that some of the proceeds from the share sale could be used to make acquisitions. which asian brands could be acquired? there are a number of companies that are dominant in their domestic markets who could be acquisition targets. in our view, potential execution ——
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acquisition targets include thai beverage and send miguel. most of the sales will be going towards debt reduction, 110 million us dollars. they have net debt of over 100 million us dollars in the 10 billion that they are raising will be used to pay down a lot of the debt. —— net debt of over 100 billion us dollars. so this will need to be funded by stock or further borrowings at a subsidiary level.m at the right time to list? the business of beer has gone flat globally. what role does asia play here? the basic issue is that asia is the most dynamic market in the beer industry. we haven't come here such as —— country china and vietnam where consumption is growing faster than in the west. can asia make up for the stagnation in the west? asia has demographic
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features such as urbanisation and a huge population which are in favour of higher beer consumption. so a lot of higher beer consumption. so a lot of the fees in the market these days is in asia. how do you make a business rise like a bread roll in an oven? that was the challenge a bakerfrom new an oven? that was the challenge a baker from new zealand took on while ona trip baker from new zealand took on while on a trip to singapore. seven years later he has built a business that has grown to include 26 restaurants and 15 cookbooks. will he achieve his goal of building a globalfoodie empire? i could have had one bakery and been happy. what really drives me is it is almost like a jigsaw puzzle. when we started the shop in this neighbourhood it was not easy.
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i was taking 24 hours a day, actually, because i was sleeping on the office floor. they use to save you make it in new york you make it anywhere. know, it is here, in singapore. if you make it here you can make it anywhere. the price of operations is astronomical. there is no lack of supply of manpower. there are over 40,000 eateries, small, established, big chains in this country. people are spoilt for choice. 0ne one thing dear to my heart is this
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new world taking and what that is about is combining some of the old and some of the new, some of the non—traditional, not french, german or italian or american. i can combine these things together and here is an example. this is a brownie and a croissant and i am bringing them together. when i was five years old i was hanging around my grandmother's apron strings because your grandmother is baked and they bottled and they preserve. my and they bottled and they preserve. my grandmother taught me how to make sponsor. she told me when i was five don't overmix it because it develops the proteins. so my mind said nanna, what is protein? and i believe that is where it all started. the vision for me in ten years time is to make baker and cook a household name globally. i like that saying. bread is the new coffee. let's have
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a quick look now at the markets. despite us stocks soaring to record highs overnight, we are seeing some movements here from the asia—pacific markets. the japanese market is down as is the all 0rdinaries in australia. as we mentioned, us stocks soared to record highs with the snp sure —— just shy of 3000. investors are inspired by the fact that the federal reserve may cut interest rates very soon. sports todayis interest rates very soon. sports today is coming up next. this is bbc news, the top stories this hour. the lion air crash in indonesia — lawyers say the families of those who died in the boeing 737 max have been cheated out of compensation donald trump says they will leave no stone unturned
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as he asks government agencies to provide information to determine who is, and who isn't a united states citizen. they have abandoned attempts to put a question on the census. the far—right activist, tommy robinson, has been sentenced to nine months in prison for contempt of court. robinson — whose real name is stephen yaxley—lennon — was found to have disrupted a criminal trial in leeds. lucy manning reports. crowd chant: we want tommy out, we want tommy out! heading back to jail. don't believe everything you read on a t—shirt — stephen yaxley—lennon wasn't convicted ofjournalism. he was found to have interfered with a trial, encouraging vigilante action against the defendants. do you regret interfering withjustice and harassing people? so today in court he was sentenced to nine months in prison.
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he will be out in two and a half. how are you feeling about your verdict? last year outside leeds crown court on a live social—media broadcast, he confronted men accused of sexual exploitation. there were strict temporary rules about reporting to make sure there was a fair trial, but he encouraged people watching to confront them. harass him, find him, go and knock on his door. follow him. the judge told stephen yaxley—lennon that he had recklessly disobeyed a court order protecting the trial at leeds crown court and had seriously risked the integrity of it, that he'd lied about what had happened there and sought to portray himself as the victim. the sentence was greeted with anger and some violence by his supporters outside, who claim he was just doing what otherjournalists do when reporting court cases. the judges didn't agree, and he was taken away to prison, his nine—month sentence reduced because of time he'd already spent in jail before his appeal.
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his supporters then marched to westminster and, despite mr yaxley—lennon complaining he'd been imprisoned forjournalism, they surrounded other journalists working there, abusing and threatening them. it's likely they'll see him released from prison in september. lucy manning, bbc news. now on bbc news, sport today. hello, i'm tulsen tollett and this is sport today, live from the bbc sport centre. coming up on this programme: england thrash australia by eight wickets to move into sunday's cricket world cup final. one win from history, serena williams is into the wimbledon final as she looks
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to win a record equalling 24th grand slam singles title. and rory mcilroy is four shots of the lead heading into the second round of the scottish open in north berwick. hello there and welcome to the programme, where we start with the news that hosts england are through to the cricket world cup final for the first time since 1992. they demolished reigning champions australia by eight wickets and will now face new zealand in sunday's final at lords. watching in birmingham was will perry. "cricket‘s coming home" was the chant from the england fans as they left edgbaston having watched their side thump their old rivals australia by eight wickets to book their place in the world cup final on sunday against new zealand. australia won the toss. it looked a good toss to win this morning. they put themselves into


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