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Now on BBC News, all the latest business news live from Singapore. | :00:00. | :00:13. | |
The Democrats take centre stage in a bid for the White House. Will | :00:14. | :00:19. | |
Hillary Clinton be a friend or foe to the Asian businesses? And she is | :00:20. | :00:27. | |
one of very few female tech bosses, but her days are numbered as a | :00:28. | :00:31. | |
multimillion dollar takeover is confident at Yahoo. -- confirmed. | :00:32. | :00:43. | |
Good morning! Glad you could join us for this edition of Asia Business | :00:44. | :00:50. | |
Report. Hillary Clinton had Asia on her list of top priorities when she | :00:51. | :00:53. | |
served as the US Secretary of State. Now the presumptive Democratic | :00:54. | :00:57. | |
candidate says she wants to strengthen economic relations with | :00:58. | :01:04. | |
the region, especially China. But is that what voters want? Earlier I | :01:05. | :01:08. | |
spoke with someone from Control Risk and ask if the Trans-Pacific | :01:09. | :01:12. | |
Partnership deal, put together during the Obama administration, | :01:13. | :01:16. | |
will still go ahead if Hillary Clinton wins the election in | :01:17. | :01:20. | |
November. The key thing to remember is she was the architect of the read | :01:21. | :01:28. | |
-- Trans-Pacific Partnership, so it is difficult for her to now come out | :01:29. | :01:33. | |
and say she is for it. She has clearly said that it doesn't pass | :01:34. | :01:38. | |
the high bar that it sets for workers, but she was an architect | :01:39. | :01:41. | |
for it from the beginning and I think her hope is that it passes in | :01:42. | :01:54. | |
the US. Because of course it will they come into force with Japan and | :01:55. | :01:58. | |
the United States leading the pack. Everyone has to ratify it, Vietnam, | :01:59. | :02:03. | |
Malaysia, all of those other countries are looking at it. But no | :02:04. | :02:08. | |
one will ratify it we believe until the US does. So all eyes are on the | :02:09. | :02:14. | |
US. But the clamour of Americans right now is jobs, jobs, jobs. Jobs | :02:15. | :02:20. | |
creation. You think in one way or another Hillary Clinton good abandon | :02:21. | :02:27. | |
Asia because America wants jobs? Yes, but she also sees the challenge | :02:28. | :02:37. | |
with US and China. It is very interdependent and complex and I | :02:38. | :02:42. | |
think the message we will see this week is that she is a safe pair of | :02:43. | :02:46. | |
hands with the domestic economy and the international economy. She knows | :02:47. | :02:51. | |
Asia well. She was here 62 times as Secretary of State. That must you | :02:52. | :02:56. | |
record number. Yes, she is a terrific advisor. I think that's the | :02:57. | :02:59. | |
message. It is about engaging the Chinese, especially now with this | :03:00. | :03:03. | |
case of the Philippines, with this international tribunal. They need | :03:04. | :03:15. | |
her. Yes, and she knows Asia really well and I think we will see some of | :03:16. | :03:24. | |
that messaging, this week. The South Korean economy expanded in the | :03:25. | :03:27. | |
second quarter, when compared with the first quarter. That's mostly due | :03:28. | :03:32. | |
to a pickup in domestic consumption, as well as business is pumping in | :03:33. | :03:37. | |
more money to capital expenditure. And to help give a further boost to | :03:38. | :03:41. | |
the economy, the government will present a supplementary budget to | :03:42. | :03:44. | |
Parliament later today, with a focus on creating new jobs. This is to | :03:45. | :03:50. | |
make up for the massive job cuts from the shipping and building | :03:51. | :03:52. | |
industries, which have been struggling. General Motors is | :03:53. | :03:57. | |
rethinking the planned $1 billion investment in India after a dramatic | :03:58. | :04:01. | |
fall in sales. More than 5000 new cars are sold in India every day and | :04:02. | :04:05. | |
foreign companies have been piling in. But it is proving to be a | :04:06. | :04:07. | |
struggle. This report from Delhi. Making cars for India's aspiring | :04:08. | :04:20. | |
middle-class, it is one of the two General Motors Indian factories. It | :04:21. | :04:25. | |
had big ambitions for the country, but things aren't going to plan. | :04:26. | :04:31. | |
Just last year it said it would invest $1 billion into India. But GM | :04:32. | :04:37. | |
India sales fell 40% in the year to March and now the firm says it will | :04:38. | :04:44. | |
have a full review of its operation. In fact, India has turned out to be | :04:45. | :04:47. | |
such a difficult market to operate in that a former high-ranking | :04:48. | :04:52. | |
employee has told me that he wouldn't be surprised if the company | :04:53. | :04:55. | |
closes down one of the two factor is it operates in the country. So | :04:56. | :05:00. | |
what's gone wrong? Partly it is down to what consumers here want. Indians | :05:01. | :05:05. | |
want cars that are high value for their money and they want bakers | :05:06. | :05:10. | |
that can be resold easily. -- makers. Other dominating makers have | :05:11. | :05:16. | |
so far managed to deliver on that. GM is not the only foreign company | :05:17. | :05:21. | |
to be battling to correct India's the car market. Volkswagen and | :05:22. | :05:29. | |
Nissan who opened this factory in Chennai are struggling to get the | :05:30. | :05:35. | |
geeks -- significant sales in the price sensitive market. But while GM | :05:36. | :05:39. | |
shares have fallen below 1% in the domestic market, the firm has seen a | :05:40. | :05:43. | |
rise in exports. It is up 12 fall on last year. Like many other | :05:44. | :05:47. | |
international car makers, the Indian factories could become key export | :05:48. | :05:55. | |
hubs. Being the darling of the internet | :05:56. | :05:58. | |
age is no guarantee of longevity. Just ask Yahoo. The business has | :05:59. | :06:04. | |
gone from being a giant of the internet to a cog in someone else's | :06:05. | :06:11. | |
corporate machine. Plans to combine its core business with that of | :06:12. | :06:14. | |
another fallen into that started all last year, AOL. We have been | :06:15. | :06:20. | |
tracking this development in New York. | :06:21. | :06:25. | |
Happy days for Yahoo! 'S bosses. Shares in the incident pioneer | :06:26. | :06:27. | |
soared back on their first trading day back in 1996. This Monday, | :06:28. | :06:34. | |
another milestone. The end of Yahoo the company, as its core business | :06:35. | :06:39. | |
was sold to Horizon. In a statement the boss of the giant said: | :06:40. | :06:53. | |
Yahoo! 'S value and technology should help them achieve this. In | :06:54. | :07:08. | |
addition, AOL. -- Verizon gets lots of their products. It isn't a | :07:09. | :07:13. | |
fantastic end to the company. It is being sold for a fraction of its | :07:14. | :07:18. | |
initial value. An analyst explained how A4 three it is all about digital | :07:19. | :07:23. | |
advertising. The key to Verizon is they see that cellular plans will | :07:24. | :07:27. | |
become commoditised. They want to push into advertising and so they | :07:28. | :07:29. | |
don't necessarily want the front page of Yahoo, but they want what's | :07:30. | :07:34. | |
behind it. That's one of the reasons why they weren't willing to pay that | :07:35. | :07:38. | |
much for it and it turned out there weren't that many readers interested | :07:39. | :07:41. | |
in paying much for what is left of Yahoo. What next for Marissa Mayer, | :07:42. | :07:48. | |
the CEO, whose attempts to revive the company failed? For now she is | :07:49. | :07:51. | |
staying put, telling employees it is important to her to see Yahoo! 'S | :07:52. | :07:57. | |
next chapter. Verizon is hoping to put more content in front of its | :07:58. | :08:00. | |
subscribers in a bid to challenge Google and Facebook when it comes to | :08:01. | :08:05. | |
digital advertising revenue. But whether or not that works remains to | :08:06. | :08:10. | |
be seen. Either way, that's the idea behind this deal. | :08:11. | :08:15. | |
The sale of Yahoo sees Marissa Mayer is probably the only boss of a big | :08:16. | :08:29. | |
tech company who most people could name. Women are badly represented in | :08:30. | :08:34. | |
the sector. My colleague has been speaking to someone hoping to change | :08:35. | :08:40. | |
that landscape. It is a 29-year-old woman who founded a female Bronze | :08:41. | :08:45. | |
Age capital firm to fund technology start-ups by women. -- | :08:46. | :08:53. | |
technological. But business and I are both under 30 and so it is very | :08:54. | :08:57. | |
challenging to do what we do. Investors tend to give a chance to | :08:58. | :09:03. | |
first-time founders, at front managers are different. They want a | :09:04. | :09:08. | |
solid track record and they want to see the investment history, which at | :09:09. | :09:11. | |
this stage is hard to accumulate, the level others could have. What | :09:12. | :09:18. | |
are some of the challenges you've been facing? If you look at the | :09:19. | :09:23. | |
start it is kind of depressing because the year between 2011 and | :09:24. | :09:27. | |
2013, only 2.7% of all venture capital funding went to women CEOs | :09:28. | :09:33. | |
and statistics show that an all-male team is four times more likely to | :09:34. | :09:36. | |
get funding, compared to a female lead team. However, they see firms | :09:37. | :09:52. | |
-- VC -- there has been a finding that a team with at least one female | :09:53. | :09:56. | |
founder performed 63% better than an all-male team. That was a venture | :09:57. | :10:02. | |
capitalist, speaking to us. Before we go, a look at the markets. In | :10:03. | :10:09. | |
early trading the Asian markets are open and they are currently weak, | :10:10. | :10:21. | |
down by a full % for the Nikkei. US shares overnight finished lower. | :10:22. | :10:25. | |
Energy companies fell, as the price of oil took another turn. Thanks for | :10:26. | :10:28. | |
your time. Goodbye for now. The top stories this hour: A knife | :10:29. | :10:37. | |
attack at a disability care | :10:38. | :10:41. |