27/09/2016 Asia Business Report

Shadow Chancellor. The heart of his plan was the increase in the living

wage of at least ?10 per hour. Here is Rico in Asia Business Report.

A positive outlook for Asia as steady growth is forecast despite

uncertain times and worries about China. Don't touch! It's not allowed

in here! What happened when we looked into the controversial loans

that left many Chinese investors out of pocket. Good morning, Asia, hello

world. It is a Tuesday and glad you could join us for this edition of

Asia Business Report. Chinese slowing economy is seen as analysts

to be the biggest threat to the global economy will. But the Anna

report paints a less dire picture. My colleague spoke to a Big E and is

asked why the world 's second-largest economy is holding

up. China's growth in our forecast is seen as slowing but it appears in

the growth, we are not seeing a heartland. Due to the quick pace

that we saw in the first half of the year, we are upgrading our forecast

for China just a little bit for this year and next year. -- hard landing.

The economy has had some success in rebalancing towards greater growth

driven by consumption and less driven by exports. And investment.

Also, an uptick in the amount services are contributing. Hour can

you say that when it goes counter to what many others are saying about

China, the fact they may not actually be reporting accurate

figures, they are slowing much more than they say? Even if I look at

what capital economics has published in their activity report, not

looking necessarily at precise numbers but the trends are very

similar and that is it is easing in growth, not a large dropping off in

growth. Moving on to the monetary Polec -- policy decisions. Rates

likely to height at some point in Japan is carrying on with its

stimulus policies. How do you see it impacting Asia? We feel it is

somewhat of a risk, at this stage. That is our market is factoring in

the possibility of a rate increase later this year and increases next

year. As long as the Feds projects its policy well in that we don't see

any sharp movement in the markets, not likely to have big impact on

developing Asia. That is one of the possible risks.

Anger has been boiling over in China over the controversial practice

known as peer-to-peer lending. Investors have lost millions

doubling in the industry which allows borrowers and lenders to

connect directly online. Many of these companies fail in China.

Investors in one company called Dada said it lost millions of dollars

when it collapsed in Shanghai. Street protest is not unusual in

China but a demonstration outside the heart of government in the

country's biggest city is rare. We wanted to film a crowd of angry

investors who lost tens of millions when one firm collapsed. Don't speak

English, speak Chinese, policeman told an investor. Don't touch! I

told you, it is not allowed in here! This was to stop us from fielding

pensioners and families who have lost their savings. This lady lost

the equivalent of $60,000. So you felt this came with

government approval? Yes. This is the firm at the centre. Dada, it

collapsed last year. Investors will leading by a promise of at least 6%

returns. Their campaign video also makes it clear that they thought it

was Communist Party and government backing. Peer-to-peer marries

investors with lenders. Much of it online. For most one decade, China

has encouraged the business to shake up a stale banking sector but it's

virtually unregulated. One third of firms that have been set up have got

into trouble. Drafted laws to try to eradicate the cowboy activity were

unveiled earlier this year but I'm told the British government is also

offering help. While the protest was going on outside that building,

edition fizzles were inside this building, meeting the city's man and

discussing ways to try and control online finance. -- British fizzles.

-- officials. This man lost the equivalent of $12 million. He says

they are victims. In private, some have told us they think corrupt

connections are slowing the police investigation into Dada. 26 floors

up, this is to be a bustling sales office and spent Dada fell apart

last December. The regulators over the river in the heart of China's

financial capital have proposed new rules to clean up the peer-to-peer

industry but the police continue to investigate and people continue to

protest. There is a lot of talk that Twitter

could be up for sale with a deal expected over the next few weeks

according to various media reports. Microsoft has joined the link --

list. The microblogging service was also said to be in talks with Google

recently. South Korea's biggest car manufacturer Hyundai has grappled

with falling profits for many months. Now there are worries that

the financial performance could get worse with strikes crippling

production. On Monday, nearly 50,000 workers held their first nationwide

straight in less -- more than a decade.

More problems for Hyundai motors. $14 billion, that is what was paid

to take over its rival to become the world 's largest hotel chain. What

can customers expect under the new combined company? Let's hear it from

Greg Smith, the age of the -- and Asia Pacific president for Marriott.

Command, will have 85 million loyalty and numbers. That is SPG and

loyalty rewards. You have leaders in all of these groups. For them, that

is more benefits from the combined organisation. We came out with our

website so you can link together. We will automatically give you an SPG

elite status. That is automatically wherever you travel, whether you

travel to Marriott hotel or another hotel. Also what is important is

what we call Sheriff trip. -- share of trip. They may not always stay

with us because we might not have hotel in that location. I have my

preferred travel partners as far as L lines go and I would love travel

with them and give them all my business so I can be treated like a

big -- VIP but unfortunately, they do not fly to every location I go

to. The same thing happens in the hotel industry. Now, we are having

twice as many hotels in locations in Asia-Pacific. We are giving the

opportunity to give the VIP status and collect points and bring it

together, no matter where they go in the Asia-Pacific. It would be hard

with 500 hotels to visit all locations.

Before we go, here is a quick look at market action this coming

Tuesday. Asia investors are very tense as they wait the all-important

US presidential debate. As you can see, the Nikkei 225, done by 49

points. The all ordinaries index also in negative territory by 49

points despite oil markets in positive territory. That is it for

this edition of Asia Business Report this morning. Two hours of special

programming coming up with Katty Kay in New York and she takes us through

the US presidential debate. Stay with us on BBC World