26/06/2014 Asia Business Report


26/06/2014

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jury was still considering other charges. Those are the headlines.

:00:00.:00:00.

Now on BBC News, all the latest business news live from Singapore.

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Google unveils android TV, four years after its last attempt at a

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video service failed. And General Motors Hawke Sayers of its

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top`selling Chevrolet, `` halt sales, due to defective airbags.

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Welcome to Asia Business Report. There is fierce composition among

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technology companies to come up with the latest clever gadget, or at

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least improve upon existing ones. Google's annual developer conference

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the tech giant announced plans to bring its Android software to cars,

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televisions and other things. Our correspondent Richard Taylor was at

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the event in San Francisco. The keynote presentation here, almost

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three hours long. No great surprises, although there were some

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interesting themes and announcements. First off the bat was

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Android One, I wait for Google to get more smartphones into the hands

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of people in the developing world in emerging markets. Currently there

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are only 10% of smartphone users in those markets. And Android One is a

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way for Google to work with hardware makers to deliver a low cost Android

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experience, with Google support and software on top. Android One is a

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big opportunity for Google to increase its presence in those

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emerging markets. Another opportunity is for Google to put

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Android not just on mobile phones and on tablets but in smart watches,

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there will be a range available soon with Android apps. We have known

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that for a while, but Google showing off some of the capabilities of

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those devices, how you can talk into them and receive not just

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notifications from your smartphone but synchronise data and get

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information from your watch to the phone itself. Now Google's march

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into the living room has not been altogether successful so far, Google

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TV was a bit of a disaster, trying to get Google's interface on our big

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screens. They have rebranded it Android TV. The idea here is as with

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a lot of other services which exist, a lot of competition out there, to

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get android running on your TV so you can order movies, or even three

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double play games. Finally, Google are putting more flash on the bone

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of its car initiative, Android Auto is a weight of using the guts of

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your smartphone while you are on the road. So you can get driving

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directions on your dashboard using your telephone is the hub. What

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emerged today as the theme is unifying the design across all

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devices which we might learn from Google. That is your watch,

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smartphone, television, and car. It is an attempt to try and shed its

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reputation if you like as being and fragmented system of Google services

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that we use. Who knows? It may even get Apple users some pause for

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thought. Richard Taylor. It looks like more bumps ahead for General

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Motors. The auto giant is halting sales of its Chevrolet cruised cars

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because of potentially defective airbags so supplied a Japanese firm.

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They have already seen various defects associated with deaths. It

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has been fined and faces a series of investigations. The president of

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General Motors spoke to our correspondent in London. He began by

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asking him just how much money he thinks that General Motors will have

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to pay out in compensation. It will be as big as it needs to be to

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compensate those who lost loved ones or suffered serious as injuries. We

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have appointed an independent administrator to administrate that

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from and it independent perspective. He will set the rules for

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eligibility. `` from an independent perspective. Just this week it

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emerged from an internal memo that were sent within General Motors in

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2002 at the board was warned that the company had to stop shipping

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vehicles that were unsafe. Have you feel about the fact that for over a

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decade, GM, this iconic American company, was selling unsafe

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vehicles? Obviously that was a problem. And we are seeing that

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problem manifested itself and now we are taking action to fix it and make

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sure it can never happen again. There is massive controversy around

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the recall issue, is that hurting confidence in the GM brand? If you

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look at our current sales performance in the US, it is hard to

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point to an immediate term impact. That does not mean there won't be

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won at some point. But the fundamental principle of doing the

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right thing for the customer has put us in as reasonable opposition as we

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can be. How much is all it is likely to cost? We have indicated initially

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about $2 billion. But presumably in the long`term with compensation et

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cetera it will be a lot more than that. We have announced charges so

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far that have already been up there. It could be some additional

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costs associated with that. We have a very strong balance sheet today.

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We have good liquidity and will be able to absorb incremental cost. We

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expect to have more clarity at the end of the second quarter. The

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president of General Motors there. China's tough official continues his

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charm offensive in Taiwan, which China considers our province. He

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will visit and `` will visit a community centre where he hopes to

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win the hearts and minds of Tywyn is. He has come up against

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opposition from protesters who say that such close ties could be bad

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for business. Our correspondent reports from Taipei `` Taiwanese.

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With confidence, he arrived in an unprecedented visit to Taiwan. He

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wasted no time in trying to charm the Taiwanese, greeting well`wishers

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in the local dialect. TRANSLATION: Hello my fellow friends in Taiwan.

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My pronunciation may be incorrect, but I am very sincere. Instead of

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seeing the President, people spend most of his meeting ordinary

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people, including owners of businesses who fear they could be

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affected by trade deals with China. Protesters worry about China's

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growing influence were ready to give him an earful. They chanted that

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Taiwan's future will be decided by Taiwan. TRANSLATION: We believe at

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the meeting today they will talk about important issues. But we have

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no access to the content or the process of the meeting. They will

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make decisions under the table. We can't accept that. The visit comes

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on the heels of the student occupation of Parliament in the

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spring, to stop the legislature from passing trade agreement, Taiwan

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signed with China. Students and others feared the agreement and

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future deals would make the island to economically dependent on China.

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And therefore vulnerable to Beijing's pressures to reunify.

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Aware of the power of the opposition in democratic Taiwan, he was to be

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seen as listening to the opinions of the Taiwanese. Analysts say this is

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It now wants closer relations with It now wants closer relations with

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Taiwan, no matter who is in power. But Beijing now realises that before

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stronger ties can be built, it must first ease Taiwanese suspicions. In

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other business News, Taiwan's Foxcon technology group is suing three

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companies over copyright in infringements. It filed lawsuits

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against Toshiba and two other companies. It claims they violated

:08:05.:08:11.

patent in televisions, smartphones, and computers. US regulators have

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filed a lawsuit against Barclays allegedly misleading investors. The

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charges centre on a trade called dark pools Dark Pools `` Dark

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Pools, which allows the shares to be sold anonymously without going to a

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stock exchange. It is said that the integrity of the markets is a top

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priority. For more on those stories you can log onto our website,

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financial institutions are coming up with quicker and ever more

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convenient ways to help customers pay for products. And services. In

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turn, criminals are coming up with ever more ingenious ways of

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stealing. By some estimates, there are $11 billion worth of credit

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fraud every year. That is a figure that has doubled in the past five

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years. Earlier I asked a financial crime expert how prevalent the

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problem is here in Asia. Again, trending the same as we do across

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the globe, there is more sophisticated criminals, especially

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in the digital age, and certainly we see within the last year some very

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sophisticated malware attacks occurring in Asia. So how do you

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stop the fraudsters? Have been issues in other isolated issues

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where they haven't been able to protect their consumers. What can

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they do? Are they doing a good enough job? The innovation which is

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occurring on the payment side needs to occur on the technology side as

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well. Really, as we talk about moving across all these devices, we

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really need to create a digital fraud ranking hub, where consumers

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can be protected in all interactions. Maryanne Miller

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speaking earlier. Taking a look at the Asian markets, which are taking

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their cues from the US which closed higher. Gains for the Nikkei,

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countered by weak US growth which seems to delay the day that interest

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rates might rise. That is how markets are performing right now.

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That is it for this edition of Asia Business Report. You are watching

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BBC News. These are the headlines: a bomb rips through a busy shopping

:10:40.:10:44.

district in the Nigerian capital. At least 21 people have died, with

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dozens more

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