13/05/2016 Asia Business Report


13/05/2016

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A report says a Brexit could lead to a fall in the value of the pound,

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reduced economic growth, higher inflation and more unemployment.

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

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News and takes the helm at. We'll be scanned a payoff -- Nissan takes the

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helmet. Is it worth the payoff spotlight is on the shares of Nissan

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and Mitsubishi. They have spent money to become the biggest

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shareholders in the small vehicle market. We saw shares surging 16% on

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Thursday. This is where they are right now. Nissan is currently

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higher. It fell at -- it fell yesterday, we will keep an eye on

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it. Mitsubishi admitted that it had been cheating on fuel economy tests

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for 25 years. Nissan's boss said it is a win for both companies, but I

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put that question to an auto analyst. It's a low price to pay to

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control the interest and get an auto maker that has a fairly local reach.

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It's the move to restore confidence in Mitsubishi, which is critical

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this time. In this particular deal, you have a very experienced

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executive who has been able to successfully navigate through a

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complex alliance such as that with Nissan. This will be a piece of cake

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by comparison. The consolidation that is needed in the industry, it

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is a great benefit in distribution especially in South-East Asia where

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Mitsubishi fills gaps in the Nissan portfolio. There are a lot more

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worries about how the scandal could potentially become wise, isn't this

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a huge risk for Nissan? There is risk in any deal, not just the fact

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that there are liabilities here. I think this is a calculated risk.

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China has faced many allegations of hacking websites of American

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governments and companies, officials met again this week to try and reach

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some sort of agreement, with not much luck. A leading security expert

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from China is that they should work together. Our correspondent attended

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a rare event where some of the smartest hackers in China compete

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against each other. It's the gambling capital of the world.

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China's rich come here in the hope that they will leave even richer.

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But some want to be consistent. Behind closed doors, teenage

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hackers, too young to bet downstairs are competing. What do you like

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about hacking? I love it, and I love cyber safety. So much so that he

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practices one day a week. At 16, he thinks he may have a career in it.

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They raced against the clock to access a smart phone or a wireless

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router. It's all above board. A filmmaker and retail giant Alibaba

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Abbe is here to learn. Organisers insist that this is about exposing

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vulnerabilities and helping manufacturers make their technology

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more secure. They say it is definitely not about sharing the

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information with governments. It is better say that there are plenty of

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people who are very interested in what is going on inside this room.

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China's government works hard to control the Internet within its

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borders. Hacking as a weapon of war, that is a very sensitive issue. The

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geeks competing here want the focus to be on security and working with,

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not against, countries like the US. TRANSLATION: The department I am

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working for has found and solved many problems for international

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companies like Microsoft. Today we fixed 32 bugs which were found by my

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team this month. The best hackers in the world are apparently not in

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China. One of the organisers told me that Russia, Israel and America are

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leading the way. These competitions show that China is trying to catch

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up, all in the name of Internet security.

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To our special series on the beef trade in India. It supplies about

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20% of all worlds beef, but it is the topic of religious debate. A ban

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on slaughter and consumption has been extended to all members of the

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cow family because of Hindu beliefs. It affects not just farmers but

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associated industries. These leather sandals are an iconic

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product of this region. They support a huge industry here. Over the last

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year, a ban on cow slaughter in the State was extended to the main

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source of the leather used to make these slippers. This has squeezed

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the supply of Labour, pushing up the prices. That is making customers

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unhappy, say retailers. Business has come down by 40%. Customers used to

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buy four or five pairs, because the shoes were so good. Now they

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complain that the prices are too high and by just one or two pairs.

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It's hard to believe that factories like this once made products sold in

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markets, and in the US or Australia. It is no longer as lucrative to be

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in this business, it's getting harder to find younger workers who

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want to learn these skills. Once employing over 100,000 workers, the

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traditional slippers industry now has less than one tenth of that

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number. This man learnt his skills as a child and has been making shoes

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for 55 years. Working 12 hours a day, he makes just $30 a month. His

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sons still want to be in this trade. The industry is dying. We don't have

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enough to make ends meet. We don't even get good leather any more. How

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do we make good shoes? All of us will be out of jobs soon. The

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industry was already shrinking, and the beef ban seems to have been the

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final blow. Many worry it will be difficult to recover from. A piece

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of local history, along with these livelihoods, might be lost for ever.

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It's a show that is normally synonymous with Las Vegas, but the

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Consumer Electronics Show is being held in Shanghai this week. It

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brings the world's biggest names in technology together.

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Can China compete with the US in terms of innovation? We are joined

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by Jeremy from Shanghai. Describe the show to us, how busy is it? Is

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it as big and exciting as it lost a counterpart? That is the big

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question. The gig me if I sound a bit strange, it is very loud. It is

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not as big as the Las Vegas exposition, which is enormous. Las

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Vegas is preposterously big. This is a more manageable size. The show

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producers have told me it is twice as big as it was last year. You can

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see that many of the booths are on the same scale as the ones in Las

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Vegas. They are showing of all the latest gadgets. Tell us about the

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gadgets. What do you think will be the next big thing? The biggest buzz

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word is virtual reality. There are a number of headsets you where, you

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put your smart phone in and you are in another world. There are a dozen

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companies selling them here, so there are a lot of products. The

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latest I have seen are a pair of sunglasses, they look like sports

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sunglasses but they pack the technology in there. We are seeing a

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number of Chinese companies, about 40%. Is this a real innovation,

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there is criticism that they could be copying? It's a loaded question,

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but a good and important question. The virtual reality headset for

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example. Samsung and HTC did it originally, but you also have

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Chinese companies doing the exact same thing. Are they copying? I

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would argue that the sunglasses are innovation, but the others are maybe

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just knockoffs. There was a lot of stuff going on behind you, but thank

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you so much for coming on the programme. That is it for this

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edition of Asia Business Report. Thank you for joining us.

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The top stories this hour: Defeated but defiant, Brazil's

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