Browse content similar to 29/07/2016. Check below for episodes and series from the same categories and more!
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station in a generation at Hinkley point. They were expected to sign | :00:00. | :00:00. | |
off on the deal today but now the deal is not expected until autumn. | :00:00. | :00:07. | |
Now it is time for Asia Business Report. | :00:08. | :00:14. | |
First was the Prime Minister's turn, now we find out the Bank of Japan | :00:15. | :00:19. | |
will pump more money into the country's economy. And, when a job | :00:20. | :00:27. | |
can mean life or death, Indonesian human rights lawyers tell us what it | :00:28. | :00:36. | |
is like to be in their shoes. Welcome to Asia Business Report. | :00:37. | :00:45. | |
More eyes will be on the Bank of Japan this morning as options become | :00:46. | :00:50. | |
available to boost their economy, including another cut to already | :00:51. | :00:52. | |
negative interest rates. The Central Bank is under extra pressure to move | :00:53. | :00:56. | |
after the Prime Minister Shinzo Abe announced his own stimulus package | :00:57. | :01:01. | |
earlier this week. What can we expect from the bank? We are in | :01:02. | :01:07. | |
Tokyo hearing what the risks are. Doing nothing would actually be the | :01:08. | :01:12. | |
biggest statement right now. We will say OK the government is not pumping | :01:13. | :01:17. | |
money in. They are talking about helicopters and everything. But we | :01:18. | :01:21. | |
keep our cards on the table and we won't move. They will move in some | :01:22. | :01:27. | |
way. They will show they have instruments and a mix of policies. | :01:28. | :01:34. | |
What we are talking about is an increase in asset purchases. We are | :01:35. | :01:38. | |
talking about another cut to interest rates further into negative | :01:39. | :01:42. | |
territory? It is unlikely they won't go 100% buying more government bonds | :01:43. | :01:47. | |
to basically finance the fiscal spending the government is planning | :01:48. | :01:51. | |
right now. They will probably buy some assets in the private market. | :01:52. | :01:55. | |
They might turn negative interest rates a tiny notch lower to show | :01:56. | :02:02. | |
they have still instruments but they are not 100% financing the | :02:03. | :02:07. | |
government. The question is any of it going to work? We have seen a | :02:08. | :02:13. | |
massive package but no news from the government. There is more news from | :02:14. | :02:17. | |
the Central Bank. From past records it isn't the first attempt at | :02:18. | :02:21. | |
stimulus in Japan. It seems that history tells us the effect will | :02:22. | :02:25. | |
fizzle out quickly. Is that fair? That is right. They upload to sing | :02:26. | :02:33. | |
on fiscal policy because monetary policy has been working in a way. -- | :02:34. | :02:39. | |
they are not focussingthe government is saying we are doing this directly | :02:40. | :02:42. | |
now. The private market is not much help in that regard. But the Central | :02:43. | :02:46. | |
Bank needs to support that otherwise it won't work. These Central Bank | :02:47. | :02:53. | |
will move in a more symbolic way rather than direct. Will it help | :02:54. | :02:59. | |
boost the economy? I think the mix is positive in terms of moving | :03:00. | :03:04. | |
Japan. Japan is stable and moving slowly. We have little inflation. | :03:05. | :03:11. | |
And it is slowly growing domestically. In a beauty contest | :03:12. | :03:15. | |
Japan looks pretty good internationally right now. Ahead of | :03:16. | :03:18. | |
that lack of Japan meeting that has been some disappointing new numbers | :03:19. | :03:23. | |
showing household spending contracted in June for the fourth | :03:24. | :03:27. | |
month in a row. The cost of living for items excluding fresh food fell | :03:28. | :03:35. | |
05% in June compared to a year ago. -- 0.5. And output fell compared to | :03:36. | :03:43. | |
the month before but missed expectations on an annual basis. It | :03:44. | :03:49. | |
grew 0.8% last month. Google's parent company Alphabet has shown | :03:50. | :03:57. | |
its second-quarter results showing a growth of $4.9 billion, up 24%. Its | :03:58. | :04:06. | |
shares surged in after-hours trade after missing expectations for | :04:07. | :04:10. | |
several autumns. We are told how the firm managed it this time around. It | :04:11. | :04:15. | |
can be explained by the shift to mobile advertisers now. What we are | :04:16. | :04:21. | |
seeing is because of that there is actually more clicks. That is | :04:22. | :04:28. | |
causing a significant increase in numbers. It is a similar trend to | :04:29. | :04:34. | |
Facebook. They are using a drive for more mobile and digital advertising. | :04:35. | :04:37. | |
But Google has a bigger challenge because it had to make that | :04:38. | :04:41. | |
transition from the desktop screen to a hand-held. It applies to both. | :04:42. | :04:46. | |
Googlies in eight strong position because it has the component as | :04:47. | :04:51. | |
well. -- Google is in a. They have YouTube. We think there is a lot of | :04:52. | :04:54. | |
growth and success in the growth and success in the | :04:55. | :05:00. | |
advertising in the video department. Is that what the future is? Looking | :05:01. | :05:05. | |
like that? Everyone wants to know, this is what is happening in the | :05:06. | :05:09. | |
past, what is next? We are seeing a higher proportion of advertising | :05:10. | :05:14. | |
dollars shifting to video mobile. We expect more of that. Other things | :05:15. | :05:22. | |
Google and Alphabet are into, they said themselves they would have done | :05:23. | :05:25. | |
better if they weren't putting money into way a out ideas, there is | :05:26. | :05:32. | |
X-Lab, they call it, and other bats like self driving cars, how | :05:33. | :05:41. | |
important are those way out ideas? It is very important. Google is one | :05:42. | :05:45. | |
of the biggest companies in the world. To be focused solely on wine | :05:46. | :05:53. | |
industry is risky. -- one. If it can become strong in other industries it | :05:54. | :05:58. | |
becomes stronger. It has to invest some of the big profits it makes in | :05:59. | :06:01. | |
other ventures into new things. Some will not work that others will help. | :06:02. | :06:10. | |
The largest investor in the UK's first nuclear power plant in decades | :06:11. | :06:13. | |
has decided to press ahead with the deal. The French energy firm, EDF, | :06:14. | :06:20. | |
holds two thirds of the project. The new reactor is predicted to ride, | :06:21. | :06:28. | |
provide 7% of the UK's energy requirements. Ford has showed its | :06:29. | :06:40. | |
worse than expected results. Water companies went tumbling after the US | :06:41. | :06:46. | |
car giant said the auto industry's recovery was at an end. -- Michael | :06:47. | :06:52. | |
it. Royal Dutch Shell has plunged over 70%, just over $1 billion. The | :06:53. | :06:58. | |
firm blamed sagging crude oil prices and other reason. For some, their | :06:59. | :07:06. | |
ideal job is one that makes our different. This is an Indonesian | :07:07. | :07:12. | |
human rights lawyer who continues to speak out against his country's | :07:13. | :07:15. | |
death penalties. In the last few hours, Indonesia executed four | :07:16. | :07:20. | |
people for drug offences, three of them foreigners. This lawyer | :07:21. | :07:26. | |
defended Australians Andrew Chan and another who were executed last you | :07:27. | :07:30. | |
for drug smuggling. Despite ongoing battles, he tells the BBC why is | :07:31. | :07:35. | |
dream job is still being a human rights lawyer. | :07:36. | :07:42. | |
I am a lawyer by profession though I do not consider myself a lawyer. | :07:43. | :07:55. | |
LAUGHING. I am an activist. I have been an activist for a long time, | :07:56. | :08:00. | |
since my student days. I took up the case of Andrew Chan and Sukumaran | :08:01. | :08:10. | |
for principled reasons. Despite drug trafficking they do have a life. | :08:11. | :08:14. | |
That is one of the most supreme rights. The case was given to be by | :08:15. | :08:26. | |
Sukumaran along with a painting he did. He said to me, please do | :08:27. | :08:31. | |
whatever you can do a polish that penalty. -- abolish. And that | :08:32. | :08:39. | |
penalty is one of the most cruel and inhuman punishments in any legal | :08:40. | :08:45. | |
system. And we have to get rid of that. And I don't think, you know, | :08:46. | :08:53. | |
it is wrong to fight the government. It is part of your rights as a | :08:54. | :09:01. | |
citizen to help the people. I wrote I am sorry that I lost and I feel | :09:02. | :09:09. | |
bad. While the Indonesian legal system is very corrupt, that is not | :09:10. | :09:17. | |
the fault only of the judges, it involves the prosecutors, the | :09:18. | :09:23. | |
police, and intermediaries. We call them the court mafia. In essence you | :09:24. | :09:33. | |
were talking about bribery. For all the judgement you want you have to | :09:34. | :09:38. | |
bribe. That is why it is very difficult to stay clean in a system | :09:39. | :09:42. | |
like this. So that is why I keep telling my lawyers here what do you | :09:43. | :09:49. | |
want in your life? If you want to be rich, instantly rich, then this is | :09:50. | :09:56. | |
probably not the job for used up at lets have a look at the markets now. | :09:57. | :10:02. | |
On the Asia board you can see the Nikkei is showing no move at all. | :10:03. | :10:09. | |
But local stocks in Tokyo did slump on the open and the yen shot a bit | :10:10. | :10:13. | |
higher. Markets are focused on whether or not the Bank of Japan is | :10:14. | :10:16. | |
going to unleash a fresh round of stimulus. You can see the other | :10:17. | :10:21. | |
market trading, Australia up ever so slightly. Look at the US overnight. | :10:22. | :10:28. | |
Those markets were barely changing as well. That is it for this edition | :10:29. | :10:35. | |
of Asia Business Report. Thank you for watching. | :10:36. | :10:41. |