29/06/2016 Asia Business Report

Our top story: Police 36 people have been killed in a gun and bomb attack

at the Ataturk Airport airport in Istanbul, Turkey. Information

suggests there were at least three attackers, police tried to stop them

before they reached a security checkpoint in the arrivals hall at

your's third busiest airport. Recep Tayyip Erdogan has said the attack

has aimed to undermine Turkey by killing innocent people. Police are

investigating whether militants from so-called Islamic State are behind

the attack. David Cameron has been meeting his EU colleagues for the

first time since he lost the In-Out referendum last week. Stay with us

on BBC News, much more to come. And the top story in the UK, Jeremy

Corbyn has insisted he won't step down as Labour leader, despite

losing an overwhelming vote of no confidence by 172 votes to 40. He

said a resignation would be a betrayal. Now it is time for the

Asia Business Report. A dire warning about the impact of

Brexit on the global economy from one of the world 's most respected

investors. And, how a trip to the theatre began

1-man's journey towards lending his dream job --1 man's.

Glad you could join us. We begin with more Brexit, and Britain's

decision to Leave the EU could lead to the worst economic crisis of our

lifetime. This is according to the American investor, Jim Rogers. He

co-founded the quantum fund in the 1970s and is also predicting that it

will lead to the breakup of the United Kingdom. He told me what he

thinks will happen in Asia. Asia will be less affected, because Asia

has a lot of reserves. Most of the nations in the West are huge

debtors. The UK is, the US is the largest in the world. Most countries

here have a big reserve. We will be affected, but not so badly. We are

already seeing an impact on some of the emerging Asian currencies such

as the Indonesian rupiah? The reason for that is when you have financial

turmoil, it is a snowball. You can't just have it here and nobody is

affected. It is all interrelated. It is going to be the worst in your

lifetime. You say it will snowball, for how much longer are we going to

see the impact of this Brexit on the global markets? Is started before

the Brexit, that is just another nail in the coffin. It started

before and is going to continue for a year or two. There are so many

embedded problem is that this could, however, last years. We have had

economic malaise for many years. The risk is that that is what happens

this time. We rather buying opportunities now? We are seeing all

this malaise in the market over the next few years. I don't see many

buying opportunities at the moment. The US dollar is a terribly flawed

currency, we are the largest tested nation in the world. You favour the

US dollar, how much lower will the British pound go against the

greenback? Scotland is going to Leave and take their order with

them, that the major source... -- debted. Will it be parity? Scotland

will Leave and take their oil, the UK has a huge trade in government

deficit. The city of London loses a lot of its income. The United

Kingdom of Great Britain and Wales, what else do they have to sell to

the world? They have lost oil and London, it is going to grow well

below a dollar before this is over. You should be very worried.

Should we be very worried? That was renowned international investor Jim

Rogers. Asian markets are beginning to show some signs of steadying

after the vote to Leave the EU led to a tumultuous trading day. The

Asian markets finished higher overnight. Taking a look at the

updated numbers. We will be opening the trading doors in about 55

minutes. There is still a lot of worry in Japan, all eyes are on the

surging yen. It is hurting exporters. Then it a yesterday

rebounded. -- the Nikkei rebounded yesterday. There are some safe haven

currencies, at everybody feels worried that they will be losing a

lot of money? It is a safe haven curse that Japan has to live with,

especially in times of crisis. That is because investors like to

purchase the yen, it is considered a safer asset. The yen has somewhat

stabilised, it is currently trading at about 103 against the US dollar,

which is probably why we are seeing the stock market doing OK. We saw a

sharp fall on Friday, but since then we have been seeing the green arrow

all week. That is despite the uncertainty of the Brexit. The

government is continuing to my letter the situation and the impact

on small businesses. The economic minister said that the government is

prepared to roll out another stimulus targeting small businesses.

That has been speculation for many weeks, when this stimulus will be

implemented. This impacts the popularity of Shinzo Abe as we head

into a major poll on July ten. Indeed. I think it is fair to say

that the flaws of the economics were starting to be rather clear, even

before the EU referendum. It has been quite interesting how some

people here said, at the G7 summit, the Prime Minister said that the

world could be heading for another financial crisis. Everybody said,

though it isn't, but now it doesn't look so silly. There is no strong

opposition party ahead of the election, so the ruling party is

still doing quite OK, despite all the issues with the economy. Thank

you so much for joining us. Lawyers are calling it the largest

auto related class-action settlement in US history. Volkswagon will be

spending up to 15 billion US dollars for cheating emissions testing. Most

of it will go to 425,000 owners. The settlement also includes billions

for environmental cheating on emission vehicles. China's first

home-grown regional airport landed in Shanghai after successfully

completing their first commercial flight. It is called ARJ21700 and

has been in development for 14 years. It is trying to break into

the Western dominated aircraft market. The country hopes to become

one of the world 's biggest aircraft manufacturers.

Most of us had to make money and if it comes from doing something we

love, we are considered lucky. We are finding people who are

fulfilling their career ambitions. This week, we find out how an

Australian actor landed his dream job as the director of Sydney's

Bellvoir Theatre companies. On the one hand, it is one of the

biggest companies in the country, but on the other, it is very small.

The hardest part is to keep dreaming up ways for the company to exist,

which is difficult but it means deciding which shows to do but not

losing sight of having some sense of why it matters, why the arts matter.

It is a messy job, in many ways, but I am responsible for business as

well. When I was about 19 and living in Brisbane, going to uni and very

much in the closet and not really doing anything creative, I started

doing a science degree, which was a terrible idea. I happened, mostly by

accident, to go and see a piece of theatre. It was a show called the

Tudors Is, it was about Oscar Wilde. I remember thinking to myself, if

you could put together your intellect, athleticism and

sexuality, your sense of creativity and your voice and your emotions all

in one thing, why would you do anything else? -- Acra won. It

seemed to me to be the only possible way of living and interesting life.

So I jumped ship, I left uni and within six months went to drama

school. The first thing I ever did was a dog food commercial, and then

I did a little bit of theatre for a about two years. I did quite a bit

of theatre. I always had an instinct to direct, but it took me a very

long time to summon the courage. I think if you are beginning, whatever

it is, when most of society thinks it is ridiculous, approach it

ridiculously. Do the silliest thing that you can do. Take a big leap.

Because if you be sensible about it, you will get waylaid by being

sensible. It has to be a ridiculous undertaking in some way.

Thank you for watching, goodbye for now.

The top stories sour: At least 36 people have been killed in a and

bomb attack on the main airport in Istanbul. Turkish police are

investigating whether Islamic State were behind the attack. It is fought

three attackers were involved and people have been urged to stay away

-- the top stories this hour: The planned high-speed rail line is

over budget and plans have to be delayed over a year, which is the

latest from the spending watchdog. MPs are due to vote later this year

as to whether to go ahead with the first steps of the ?56 billion

project. It would be one of the biggest and

most expensive engineering projects Britain has ever taken on. HS2 would

eventually see 225 mile an hour trains linking London with some of

the biggest cities, but the timetable is unrealistic and there

is not currently enough money in the budgets to pay for everything.

Euston station will be the London gateway for HS2, but it is old and

is going to need a lot of disruptive work and a lot of money to get it

ready. This report says they will need an additional ?470 million just

to upgrade this site. It also says there is currently a ?204 million

overspend on the first phase of the wine, between Birmingham and London.

They need to save ?9 billion on the second phase, and they may need to

delay the project via a year to open on time -- line. The boss of the

company delivering the line told the BBC they remain on track. I see it

as steady progress. The first report said, why are you building this

project? Now they are saying, I've got it. I understand the strategic

case. The government insists the money is still there, but critics

aren't convinced. There is absolutely no chance whatsoever that

HS2 will be delivered on time or on budget, and there is a very good

chance that if it is delivered, it won't represent what is actually on

the table. A lot of it will get cut if they want to keep anywhere near

the actual budget. MPs are due to vote later this year on whether to

go ahead with the first phase. An inquest into the death of

14-year-old Alice Gross two years ago has heard police did not check

criminal records of the Latvian man believed to have killed her. A

convicted murderer was found hanged after Alice disappeared. He had been

questioned in 2009 about an allegation of indecent assault, but

wasn't charged. Scotland Yard said their policy has now changed. --

has. Now it's time for Sport Today. And --