Browse content similar to 29/09/2014. Check below for episodes and series from the same categories and more!
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at the general election is a vote for labour's Ed Miliband. Let's find | :00:00. | :00:07. | |
out what is happening in the business world, with Asia Business | :00:08. | :00:08. | |
Report. `` Labour. Police crack down on protesters in | :00:09. | :00:20. | |
Hong Kong. Its stock market falls, and several banks suspend | :00:21. | :00:25. | |
operations. Rockstar welcome for India's PM, but will that translate | :00:26. | :00:27. | |
to business deals? Welcome to Asia Business Report. | :00:28. | :00:43. | |
Hong Kong traders are bracing for a sell`off this Monday, with markets | :00:44. | :00:48. | |
already lower. Any are making plans to work outside the financial | :00:49. | :00:52. | |
district. That is after the biggest police crackdown in the city since | :00:53. | :00:58. | |
it was returned to Chinese rule. Police used tear gas to break up the | :00:59. | :01:03. | |
demonstrations, after protesters locked traffic in and around the | :01:04. | :01:06. | |
central business district. It is home to the world's fifth`largest | :01:07. | :01:11. | |
stock market. 29 branches of 17 banks have suspended operations | :01:12. | :01:15. | |
today. Let's have a look at the markets, they have been open for | :01:16. | :01:19. | |
about an hour, and they have fallen to a two`month low, sinking well | :01:20. | :01:28. | |
over 1%. That is following the weekend unrest, as you can see. | :01:29. | :01:30. | |
over 1%. That is following the weekend unrest, as you can The Hang | :01:31. | :01:33. | |
Seng is down considerably over 500 points. The closure of some of the | :01:34. | :01:38. | |
city's most busy roads lead to widespread chaos. Some bank branches | :01:39. | :01:44. | |
are shut, as our schools. That is not the case with all the markets, | :01:45. | :01:48. | |
because Japan's Nikkei is higher, mainly because it is aided by the | :01:49. | :01:53. | |
weakness of the yen. That is boosting the export sector, | :01:54. | :01:56. | |
Australian shares being hit by falls in iron ore prices. Mark Konan is | :01:57. | :02:04. | |
the chief executive of Cathay combing asset management in Hong | :02:05. | :02:09. | |
Kong. He explains how the violence has affected the city. This is a | :02:10. | :02:14. | |
question of access to offices and public transport, and that is where | :02:15. | :02:17. | |
the disruption is most heavily felt this morning. A number of train | :02:18. | :02:24. | |
stations have been extremely congested, as access to those has | :02:25. | :02:30. | |
been restricted. A number of bus services servicing the key areas on | :02:31. | :02:32. | |
the island, the business district is, have been rerouted, which is | :02:33. | :02:37. | |
made life more difficult for those trying to get to work. Schools in | :02:38. | :02:42. | |
the central area on the island as well have been closed, which did | :02:43. | :02:46. | |
ease traffic this morning. As you say, tourist arrivals could be | :02:47. | :02:51. | |
heard. This comes at a time anyway with the clampdown on conspicuous | :02:52. | :02:55. | |
consumption in China, which is affecting the retail industry in | :02:56. | :02:59. | |
Hong Kong will broadly. Very quickly, do you think all of this | :03:00. | :03:03. | |
will be a short`term impact, or are they concerned it could: longer? | :03:04. | :03:08. | |
Especially as there is no sign of China or the Hong Kong government | :03:09. | :03:14. | |
giving in? It started off this time as a student protest, and it has | :03:15. | :03:18. | |
been taken on by the occupier central movement. `` occupier | :03:19. | :03:24. | |
central. The stand`off has become a little bit out of control, but | :03:25. | :03:29. | |
whether this leads into a further stand`off where it extends in terms | :03:30. | :03:33. | |
of further progress in the central business district, I think it's | :03:34. | :03:36. | |
largely rest in the reaction we see from the leadership here, and what | :03:37. | :03:43. | |
reaction we are going to get from Beijing. Given it is a short week, | :03:44. | :03:48. | |
things could get difficult in and around the public holiday. The | :03:49. | :03:54. | |
Indian PM, Narendra Modi, has been given a welcome normally reserved | :03:55. | :03:58. | |
for rock stars on his visit to the US. His appearance at Madison Square | :03:59. | :04:06. | |
Garden on Sunday sold out. It is a trip focused on boosting trade, and | :04:07. | :04:10. | |
Narendra Modi is expected to hold meetings with leaders from several | :04:11. | :04:17. | |
Fortune 500 companies, including Pepsi Cola, Boeing and Google. Our | :04:18. | :04:21. | |
business correspond it asked the head of the US business alliance if | :04:22. | :04:29. | |
he can deliver. I think his track record is very good, which is why he | :04:30. | :04:33. | |
got elected with such a mandate. The difference is this mandate is that | :04:34. | :04:44. | |
because of the coalition government, he has a clear mandate. With that he | :04:45. | :04:49. | |
can get things done. The odds are that he will get things done. Is | :04:50. | :04:55. | |
this visit hitting the reset button? I think it is more than hitting the | :04:56. | :05:00. | |
reset button. For a person who is persona non grata until about a year | :05:01. | :05:07. | |
ago, he has now been posted for lunch by the vice president and | :05:08. | :05:11. | |
Secretary of State, he is making the defence secretary and being hosted | :05:12. | :05:20. | |
by the Congressional organisation, I think that button has been hit very | :05:21. | :05:27. | |
hard. Bank in Japan is in talks to acquire DreamWorks, the animation | :05:28. | :05:31. | |
studio behind the movies Schreck and Madagascar. It is set to be worth | :05:32. | :05:38. | |
$3.4 million. It would be the second Japanese finance company to buy a | :05:39. | :05:45. | |
Hollywood studio. China's e`commerce giant, Ali Baba, has bought a 50% | :05:46. | :05:53. | |
stake in a Chinese technology company. It is a firm's first big | :05:54. | :05:59. | |
investment since his record`breaking share listing in New York. The | :06:00. | :06:08. | |
collapse of Indian carrier Kingfisher airlines was an | :06:09. | :06:10. | |
embarrassment for the aviation industry in India, and the | :06:11. | :06:16. | |
businessman behind it. Now, a bank has declared him a wilful default | :06:17. | :06:20. | |
over debts that he racked up while he had the airline. | :06:21. | :06:26. | |
At the height of his success, veejay Mallya was known as the king of The | :06:27. | :06:29. | |
Times, and there were plenty of those. A one`time billionaire, | :06:30. | :06:33. | |
thanks to his success in the alcohol industry, his flamboyant lifestyle | :06:34. | :06:41. | |
led him to be referred to as the Richard Branson of India. But since | :06:42. | :06:45. | |
Kingfisher was grounded due to massive losses, is business prospect | :06:46. | :06:50. | |
of change dramatically. This was the headquarters of Kingfisher Airlines, | :06:51. | :06:54. | |
in the heart of Mumbai. It is close to the airport, and one of many | :06:55. | :06:58. | |
properties that were taken over by the bank after the company failed to | :06:59. | :07:02. | |
repay its debts. It owes nearly $1.2 billion. Now, the lenders are trying | :07:03. | :07:07. | |
to claw back some of that money by selling these assets. Earlier this | :07:08. | :07:14. | |
month, one of those lenders declared him and his airline a wilful | :07:15. | :07:20. | |
default. A term for those believed to have deliberately not met their | :07:21. | :07:23. | |
payments, even though they were able to pay. Many more banks are expected | :07:24. | :07:27. | |
to follow suit with the same declaration. That is damaging. Once | :07:28. | :07:34. | |
tagged as a wilful default, people can be barred from accessing Indian | :07:35. | :07:37. | |
financial markets to raise funds, and are kept out of influential | :07:38. | :07:42. | |
corporate positions. Kingfisher Airlines, which has gone to the | :07:43. | :07:45. | |
courts to fight these charges, has said... | :07:46. | :07:56. | |
For now, his options are limited. He has to figure out a way to pay gap, | :07:57. | :08:06. | |
or convince the bank that he genuinely does not have funds to | :08:07. | :08:13. | |
clear his debts. Either way, the making good times now faces some | :08:14. | :08:16. | |
tough debts instead. For the first time, the Xbox will go | :08:17. | :08:21. | |
on sale in China. This is after a lifting of a government ban on on | :08:22. | :08:28. | |
game consoles. All years, Microsoft, Sony and Nintendo wanted access to | :08:29. | :08:31. | |
the Chinese market, but as our Beijing correspondent reports, they | :08:32. | :08:37. | |
will now face tough competition. They are old school and still going | :08:38. | :08:41. | |
strong. But with China now lifting its ban on and gaming consoles, some | :08:42. | :08:46. | |
warn that these arcade could soon become a thing of the past. I'm | :08:47. | :08:54. | |
going to let you into a little secret. Despite the ban, millions of | :08:55. | :08:59. | |
consoles have already been sold in China. This man bought his Xbox on | :09:00. | :09:12. | |
the black market. Like many, he is a fan of violent games, but he says | :09:13. | :09:19. | |
that if these games, as seems likely, are banned by the | :09:20. | :09:22. | |
government, then an official sales will start struggle to take off. | :09:23. | :09:27. | |
TRANSLATION: I think players would be willing to buy the official Xbox, | :09:28. | :09:31. | |
as long as they can get the good games. But if there are | :09:32. | :09:34. | |
restrictions, people won't pay hundreds of dollars to play boring | :09:35. | :09:43. | |
games. Because of rampant piracy, china's games industry develops | :09:44. | :09:50. | |
differently from the West. Videogame companies, like this one in Beijing, | :09:51. | :09:54. | |
aim to first hooked the player in hope of future profits. TRANSLATION: | :09:55. | :09:59. | |
Chinese games had the runway of making money. Players download them | :10:00. | :10:05. | |
for free, we give the best thing they can offer, and if they like the | :10:06. | :10:10. | |
game they can pay for extra items. All the games at this company are | :10:11. | :10:13. | |
actually being developed for mobile phones. That is because China sees | :10:14. | :10:18. | |
the smart phone and not the console is the future of gaming here. | :10:19. | :10:26. | |
Are very quick recap of the markets. Our top line about the protests in | :10:27. | :10:32. | |
Hong Kong, that has impacted the market, which is down to a 2.5 month | :10:33. | :10:33. | |
low. Welcome back. A reminder of the | :10:34. | :10:49. | |
BBC's top stories this power. Hong Kong protests are escalating, | :10:50. | :10:53. | |
thousands continuing to defy police and authorities. The Islamic State | :10:54. | :11:00. | |
advance into Iraq is now less than ten kilometres to from | :11:01. | :11:02. |