Browse content similar to 28/07/2016. Check below for episodes and series from the same categories and more!
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Monday as 34 U Ricardo Hunter from south London. He died from a single | :00:00. | :00:00. | |
bullet wound to the chest and a man has been arrested on suspicion of | :00:00. | :00:00. | |
murder. Japan's deke cash splash, but will | :00:00. | :00:21. | |
it kickstart the country's economy? And, be like for Facebook, as | :00:22. | :00:28. | |
profits nearly tripled and share prices soared. | :00:29. | :00:36. | |
Good morning and welcome to Asia Business Report. We start with | :00:37. | :00:43. | |
markets, and Japan's Nikkei started trading half-an-hour ago and opened | :00:44. | :00:47. | |
lower. That is after getting a boost on Wednesday due to the announcement | :00:48. | :00:52. | |
by the Japanese Prime Minister, Shinzo Abe, who has said his | :00:53. | :00:55. | |
government will announce a huge spending spree worth more than $265 | :00:56. | :01:01. | |
billion. The size of it is much bigger than expected, and the | :01:02. | :01:06. | |
Japanese yen has initially weakened after the announcement, but now it | :01:07. | :01:09. | |
seems to be strengthening against the US dollar, and that is partly | :01:10. | :01:14. | |
why the Nikkei is trading lower. Now, all eyes are on the country's | :01:15. | :01:18. | |
central bank, which is holding a policy meeting today and tomorrow, | :01:19. | :01:25. | |
if they announce further stimulus at the meeting tomorrow. But will this | :01:26. | :01:36. | |
massive stimulus help the economy? We still don't know when he will | :01:37. | :01:40. | |
spend that amount of money and how he will finance it, and then I don't | :01:41. | :01:45. | |
think the Japanese government is actually able to increase spending, | :01:46. | :01:51. | |
because the Prime Minister also has another goal, to balance the budget | :01:52. | :01:56. | |
by 2020. In order to do that in the next few years he will have to cut | :01:57. | :02:04. | |
spending by as much as Y20 trillion. I think this is a vast li inflated | :02:05. | :02:10. | |
figure. What will be the actual figure we are talking about, and | :02:11. | :02:13. | |
where will that money be coming from if the money is not to be spent? In | :02:14. | :02:23. | |
the next six months the Japanese government will compile a | :02:24. | :02:25. | |
supplementary budget for this fiscal year. I would expect that at most | :02:26. | :02:31. | |
say 20 billion economic stimulus to be in the budget. Shinzo Abe has | :02:32. | :02:37. | |
tried a similar approach several years ago, but the impact didn't | :02:38. | :02:42. | |
really last for a long time. In your phew, what is actually needed to | :02:43. | :02:49. | |
jumpstart the economy? Write, well, if you do want to jumpstart the | :02:50. | :02:57. | |
economy, for say a year, I think spending a big amount of money, | :02:58. | :03:01. | |
public work, building roads and bridges, it helps to inflate the | :03:02. | :03:08. | |
economy for one year. But that is what happened in 2013, and I do | :03:09. | :03:12. | |
believe the Japanese authorities, the government and the bank of | :03:13. | :03:16. | |
Japan, have to think in more long-term sustainable growth. In | :03:17. | :03:23. | |
other business news making headlines, Samsung has posted a | :03:24. | :03:24. | |
better-than-expected second-quarter profit. They are up 18% compared to | :03:25. | :03:33. | |
a year ago. It is the firm's best result in more than two years and | :03:34. | :03:37. | |
was fuelled by a pickup in smartphone sales, with profits in | :03:38. | :03:44. | |
its mobile division jumping 57%. India has passed a controversial new | :03:45. | :03:47. | |
child labour law which allows children to work in family | :03:48. | :03:50. | |
businesses. Rights groups have criticised the move, saying it could | :03:51. | :03:54. | |
push more children into work and out of school. Official figures show | :03:55. | :03:59. | |
India has more than 12 million child workers, but some estimates say the | :04:00. | :04:03. | |
figure could be as high as 60 million. The US Federal Reserve has | :04:04. | :04:08. | |
left interest rates unchanged but held open the possibility of a | :04:09. | :04:12. | |
second rise later this year. The last hope was in December. The Fed | :04:13. | :04:18. | |
said that near-term risks in the US economy had diminished and there had | :04:19. | :04:21. | |
been a pickup in the jobs market recovery. Some have said the | :04:22. | :04:31. | |
brighter outlook suggests the impact of Britain's decision to leave the | :04:32. | :04:35. | |
EU. In the past 24 hours we found out that the British economy | :04:36. | :04:44. | |
performed better than expected. How much can we deduce from these | :04:45. | :04:45. | |
figures? Better figures than expected today, | :04:46. | :04:51. | |
and an announcement by London City Airport | :04:52. | :04:54. | |
that it was expanding. For the Chancellor, Philip Hammond, | :04:55. | :04:56. | |
not exactly blue skies ahead, The UK economy is fundamentally | :04:57. | :04:59. | |
strong as we go into the challenge That gives us the tools | :05:00. | :05:03. | |
and the scope to respond And do you really think, | :05:04. | :05:09. | |
as some suggested, that we could be Well, I think it's far too early | :05:10. | :05:19. | |
to say how the economy Inevitably, people's reaction | :05:20. | :05:24. | |
to a surprise is caution. No such caution today | :05:25. | :05:35. | |
from pharmaceutical giant GlaxoSmithKline, which announced | :05:36. | :05:36. | |
a ?275 million investment But the maker of Night Nurse | :05:37. | :05:38. | |
and Panadol did lace its good news This was a company, after all, | :05:39. | :05:42. | |
that was a firm supporter My guess is that we're probably | :05:43. | :05:46. | |
going to see some choppy signals I don't think we'll see a dramatic | :05:47. | :05:50. | |
shift to the left or the right. But we will see some choppiness, | :05:51. | :05:56. | |
we will see some things which are indicative | :05:57. | :05:58. | |
of a bit of a slowdown, and it's likely we will see some | :05:59. | :06:00. | |
signals of early inflation. With business investment | :06:01. | :06:03. | |
still continuing, like here at London City Airport, | :06:04. | :06:05. | |
some people might wonder, what was all the fuss | :06:06. | :06:07. | |
about with the economy I think there are two big | :06:08. | :06:09. | |
things worth considering. Firstly, we are still largely | :06:10. | :06:15. | |
looking in the rear-view mirror. Most of the economic information | :06:16. | :06:18. | |
published today is actually from April, when business | :06:19. | :06:20. | |
confidence was far higher. And many senior economists I've | :06:21. | :06:22. | |
spoken to who are very close to the Government warn | :06:23. | :06:25. | |
against a false sense of security. Britain is still facing | :06:26. | :06:27. | |
uncertain times. Uncertainty has been an issue | :06:28. | :06:28. | |
for this leather company in Oxford, to the Government warn | :06:29. | :06:40. | |
against a false sense of security. Britain is still facing | :06:41. | :06:42. | |
uncertain times. Uncertainty has been an issue | :06:43. | :06:44. | |
for this leather company in Oxford, which has found the post-Brexit | :06:45. | :06:47. | |
world a more difficult proposition. Next week the Governor of the Bank | :06:48. | :06:52. | |
of England will announce his latest The bank may even agree to cut | :06:53. | :06:57. | |
interest rates to boost growth, a move that will only come | :06:58. | :07:01. | |
if the economic news has indeed The world's biggest social network | :07:02. | :07:08. | |
seems to get bigger and bigger. Facebook shares have jumped on news | :07:09. | :07:10. | |
that the number of people using the site is growing, and it is | :07:11. | :07:14. | |
attracting more advertising. In the three months to the end of June, | :07:15. | :07:17. | |
Facebook made profits of more than $2 billion. That was an increase of | :07:18. | :07:24. | |
186% on the same period last year. Since then it has also signed up 220 | :07:25. | :07:30. | |
million new monthly users, taking the total number of users to more | :07:31. | :07:36. | |
than 1.7 billion people, and that has driven the share price even | :07:37. | :07:43. | |
higher. That has given it a stock market value of $350 billion. | :07:44. | :07:48. | |
Facebook makes its money from ads, lots of them, it turns out. Here is | :07:49. | :07:55. | |
the appeal. Close to one seventh of the human race looks at Facebook on | :07:56. | :07:59. | |
their final tablet everyday. But it is not enough just to have eyeballs. | :08:00. | :08:03. | |
Facebook is not just good at getting more of us to use its services, it | :08:04. | :08:08. | |
has also shown an making money off our social media habits, whether | :08:09. | :08:19. | |
that is using messenger, or other applications. It is also pushing | :08:20. | :08:23. | |
into mobile video, where it faces competition from the likes of | :08:24. | :08:27. | |
Snapchat and YouTube. We have seen big brands having fun with Facebook | :08:28. | :08:34. | |
live broadcasts, with I hop live streaming pancakes on a beach. I'm | :08:35. | :08:37. | |
not sure why. But it speaks to Facebook success, at attracting new | :08:38. | :08:42. | |
advertisers and encouraging existing ones to spend more. Along with | :08:43. | :08:45. | |
Google, Facebook has benefited hugely from advertisers should the | :08:46. | :08:51. | |
money from TV to the internet. As one analyst put it, the social | :08:52. | :08:56. | |
network is running away with the mobile advertising market. At this | :08:57. | :09:00. | |
point it is hard to see how rivals can catch up. If you have ever | :09:01. | :09:07. | |
doubted the power of social media, there is one charity campaign that | :09:08. | :09:12. | |
has arguably made a difference. You may remember the ice bucket | :09:13. | :09:16. | |
challenge back in 2014, which proved to be a mobile market's dream, | :09:17. | :09:20. | |
raising millions, and even bankrolling the scientific | :09:21. | :09:21. | |
breakthrough. I do not think it is presidential | :09:22. | :09:29. | |
for me to be splashed with icewater, so I'm simply going to write you a | :09:30. | :09:38. | |
cheque. It was a simple concept, pour a bucket of iced water | :09:39. | :09:42. | |
Radiohead, nominate others to do the same, raise money for motor neurone | :09:43. | :09:47. | |
disease. It was the brainchild of Peter freights and his friend Pat | :09:48. | :09:50. | |
Quinn, both diagnosed with the condition. Critics called it | :09:51. | :10:03. | |
selective ism, particularly when celebrities jumped on the bandwagon. | :10:04. | :10:07. | |
But it raised $150 million, and now we know where the money has gone and | :10:08. | :10:11. | |
what it has done. Six research projects were funded by the stunt, | :10:12. | :10:15. | |
and scientists say that research is help them identify in Eugene that | :10:16. | :10:21. | |
contributes to the disease. Called Emenike one, the genes is only links | :10:22. | :10:30. | |
to a small number of inherited cases -- NEK1. But scientists say it could | :10:31. | :10:35. | |
lead to new treatments. That is it for this edition of Asia | :10:36. | :10:41. | |
Business Report. Sport Today is coming up | :10:42. | :10:42. |