:00:00. > :00:00.opens for new licences to extract shale gas. `` bidding. Those are the
:00:00. > :00:00.latest headlines. Now on BBC News all the latest business news live
:00:00. > :00:22.from Singapore. The green light to recall mine that
:00:23. > :00:32.could provide power to millions, but environmentalists are worried. `` a
:00:33. > :00:37.coal mine. And a Chinese bass at the centre of the food scandal. It is
:00:38. > :00:44.all about wielding respect and trust in the management of systems aren't
:00:45. > :00:56.that integrity. `` and their integrity. The Australian government
:00:57. > :01:05.has approved the construction of the biggest coalmine.
:01:06. > :01:15.Its could provide electricity to millions, but could threaten the
:01:16. > :01:26.Great Barrier Reef in Queensland. I asked how the markets have been
:01:27. > :01:37.reacting. The environmentalists are concerned about the Carmichael
:01:38. > :01:43.coalmine being approved. It will be Australia's against thermal coal
:01:44. > :01:54.operation once it is in production. `` biggest. The environmentalists
:01:55. > :01:59.are concerned about the amount of coal because there are water tables
:02:00. > :02:10.and also the area where the call will be shipped. `` coal. Does it
:02:11. > :02:17.need another mine? How will this address energy needs? This will be
:02:18. > :02:28.able to supply power stations for a long time to come. The life of the
:02:29. > :02:34.mine is something like 60 years. Thermal coal as an energy source is
:02:35. > :02:41.not going to go away. It will incrementally increase. By the time
:02:42. > :02:51.this project comes into force, we do expect the demand for thermal coal
:02:52. > :03:02.would have risen. By the mid` 2020. `` Mitt
:03:03. > :03:12.`` mid`2020s, I expect it will be well used. The country is not happy
:03:13. > :03:16.with the most recent tax hike. He campaigned and he promised and he
:03:17. > :03:20.delivered and now his popularity is declining, in part due to those
:03:21. > :03:28.promises, aimed at bringing Japan back on the path of economic growth.
:03:29. > :03:36.18 months after taking office, Prime Minister Shinzo Abe's policies are
:03:37. > :03:43.no longer popular at home. A poll carried out showed his approval
:03:44. > :03:51.rating for his cabinet fell to 45.6%, which is the lowest ever. 47%
:03:52. > :03:58.expressed disapproval of the Prime Minister's economic policies. His
:03:59. > :04:07.most recently implemented policy was to increase consumption tax, a move
:04:08. > :04:12.expected to spur spending. It is also designed to bring down Japan's
:04:13. > :04:16.massive public debt. One month after the hike in consumption tax, retail
:04:17. > :04:27.sales fell at a record price in May. Consumers
:04:28. > :04:32.held off on spending. The government will need to decide in December
:04:33. > :04:43.whether they should hike the unpopular tax from 8% to 10%.
:04:44. > :04:55.Apparently, Shinzo Abe is still very popular despite his economic
:04:56. > :05:03.policies. His popularity is below 50%. Most politicians would be
:05:04. > :05:08.envious of his 45% rate. Taxes have been hiked and people are not happy
:05:09. > :05:12.about it. That is natural. That is the way it is. The underlying
:05:13. > :05:18.economic recovery in Japan is still intact. A feelgood factor is going
:05:19. > :05:25.to start coming through in the next couple of months. How is the Prime
:05:26. > :05:32.Minister trying to bring back voters and boost the rural economy? There
:05:33. > :05:40.are no easy solutions. Taxes will have to go up further. Japan's
:05:41. > :05:47.public deficit is more than 250% of GDP. It is not easy. The good news
:05:48. > :05:50.is the private sector. It is not about the Prime Minister or the
:05:51. > :05:56.government. Corporate Japan has restructured. They are hiring people
:05:57. > :06:01.quite aggressively. It is their falling unemployment rate, their
:06:02. > :06:06.improvement in income, that to swear their feelgood factor is coming from
:06:07. > :06:11.in Japan. New figures show unemployment in Japan rose for the
:06:12. > :06:16.first time in almost a year. The jobless rate climbed to 3.7% in
:06:17. > :06:21.June. The markets had been expecting unemployment to remain flat, but it
:06:22. > :06:25.may not be as bad as it seems. The Labour Ministry said the number of
:06:26. > :06:28.job offers rose to its highest rate in more than two decades. More
:06:29. > :06:40.people are said to be looking for work as the labour market improves.
:06:41. > :06:47.Nissan has reported a rise in profits, which is a 13% jump. It is
:06:48. > :06:54.more than triple after they felt the impact of a expansion drive in
:06:55. > :07:00.lifting its global market share. Microsoft has confirmed that the
:07:01. > :07:04.body responsible for enforcing business laws in China visited some
:07:05. > :07:08.of its officers. The firm, which is not accused of any wrongdoing, did
:07:09. > :07:15.not disclose the reasons for the visit, but it may face an anti`trust
:07:16. > :07:21.investigation. It says it will answer any concerns the government
:07:22. > :07:25.have. An American meat supplier which owns a Chinese company at the
:07:26. > :07:32.centre of the food scare is stepping in to take control of operations.
:07:33. > :07:41.Husi in Shanghai fell short of high standards. It comes after five Husi
:07:42. > :07:52.staff were detained last week, following allegations he firm sold
:07:53. > :07:58.out of date meat to firms like KFC and McDonald's. The firm is now in
:07:59. > :08:02.damage control. It is about rebuilding trust and respect in
:08:03. > :08:16.systems with integrity. It is about ensuring that never happens again.
:08:17. > :08:25.The scandal was not only in China. It also affected Japan and Hong
:08:26. > :08:32.Kong, where local food safety officers are looking into it. This
:08:33. > :08:35.McDonald's located in Hong Kong's business district has stopped
:08:36. > :08:45.selling its products because of a tainted meat scandal. Chicken
:08:46. > :08:51.McNuggets amongst other items have been pulled from the menu because
:08:52. > :08:57.they have been linked to Husi, the supplier accused of selling expired
:08:58. > :09:03.meat. And other parts of the country, hamburgers are also off the
:09:04. > :09:07.menu. It is no exaggeration that business is to be booming for
:09:08. > :09:13.breakfast, lunch and dinner and all the hours in between. Now it is
:09:14. > :09:17.clear they far fewer customers. What do consumers have to say about
:09:18. > :09:23.eating here? TRANSLATION: I know that McDonald's food is not healthy.
:09:24. > :09:26.After the news broke, I stopped eating McDonald's because I worried
:09:27. > :09:30.that more problems would arise later. I am not surprised. I think
:09:31. > :09:36.that other companies would have similar things, whether this is
:09:37. > :09:41.exposed or not. There is a mix of opinion here. It is important to
:09:42. > :09:51.point out that no one has reported being sickened by the expired meat.
:09:52. > :09:57.They promise to resume selling salad as early as next week, with supplies
:09:58. > :10:02.from Taiwan or the United States. It is not clear when you can will be
:10:03. > :10:12.back on the menu. We are looking at the markets now. Retail sales have
:10:13. > :10:20.fallen .6% in June. Household spending has declined, although not
:10:21. > :10:29.as much as expected. Elsewhere, the Hang Seng is higher. In Australia,
:10:30. > :10:42.stocks are flat. We are expecting more Australian companies with
:10:43. > :10:50.results out this month. That is Asia Business. Intense shelling is
:10:51. > :10:53.continuing in Gaza, despite renewed international calls for a ceasefire.
:10:54. > :10:56.The house of the Hamas leader, Ismael Haniyeh, has been hit, but no
:10:57. > :10:59.casualties have been reported. Earlier the Israeli Prime Minister,
:11:00. > :11:00.Benjamin Netanyahu, said his country must be prepared for