:00:00. > :00:00.The 69-year-old, known as The Yorkshire Ripper, is serving
:00:00. > :00:15.Now on BBC News all the latest business news live from Singapore.
:00:16. > :00:28.Answers for the families of those in the AirAsia crash. Just like mother
:00:29. > :00:38.used to make. And Italian restaurant in Asia. -- an. Good morning, Asia,
:00:39. > :00:46.hello, world. Thank you for joining us. I am Rico Hizon in Singapore.
:00:47. > :00:54.AirAsia's Chief Executive says there are lessons from the crash of the
:00:55. > :01:00.flight in December killing 162 people. The other shall report says
:01:01. > :01:04.problems with a faulty rudder system and how the pilots responded
:01:05. > :01:12.contributed to this tragedy. -- official. Mr Fernandes has said
:01:13. > :01:16.there is much to be learned for the company, the manufacturer, and the
:01:17. > :01:20.aviation industry. He added, we will not leave any stone unturned to make
:01:21. > :01:27.sure the industry learns from this tragic incident. Earlier, I asked a
:01:28. > :01:32.lawyer what this would mean for Asia's biggest budget airline. The
:01:33. > :01:37.report talks about three events that led to the accident, the crack of
:01:38. > :01:45.the soldering on the rudder, the attempt to reset the plane, and the
:01:46. > :01:50.stalling of the aircraft. With this report, can the relatives of the
:01:51. > :01:57.passengers finally have a class-action suit against AirAsia
:01:58. > :02:03.and Mr Fernandes? It depends. The report actually protects, in a way,
:02:04. > :02:09.the actions of the crew, by saying they were not required to be trained
:02:10. > :02:20.by the anti- factor is... This report is neutral? -- many
:02:21. > :02:31.manufacturers. The damage started with the Malaysian airline's lost.
:02:32. > :02:35.Many tourists are not going to South East Asia. -- loss. That was the
:02:36. > :02:42.main loss. One thing to note is that the aviation industry is very well
:02:43. > :02:47.insured to be any claims that come out of the 162 loss of lives is
:02:48. > :02:52.covered. But their premiums could also go up as a result only if they
:02:53. > :02:59.can prove that the loss was due to negligence. What does this mean for
:03:00. > :03:04.AirAsia, which also wants to go private? Could this be detrimental
:03:05. > :03:09.for them in trying to buy back the shares or get additional investors
:03:10. > :03:15.for them to go from public to private? Business activity wise,
:03:16. > :03:22.economic activity, they are very well insured for this event, as I
:03:23. > :03:28.said, I don't think it will have that material effect on then. --
:03:29. > :03:40.them. The Australian economy expanded by 2.5 cent in the three
:03:41. > :03:47.months till December. -- %. That is due to rising exports. It beat
:03:48. > :03:51.expectations. And economic slowdown of China and a slumping mining
:03:52. > :03:54.industry did not prevent the economy from picking up momentum in the
:03:55. > :04:00.quarter. It was a British football club visited by Xi Jinping just
:04:01. > :04:06.weeks ago, now a consortium of high-profile companies has had 400
:04:07. > :04:14.million US dollars in the group which owns just a city. They bought
:04:15. > :04:19.a 13% stake. -- Manchester City. We spoke to the commercial director of
:04:20. > :04:24.the group about a focus on Asia. Football and the Premier League has
:04:25. > :04:29.never been as popular as the day in Asia. We are seeing that in terms of
:04:30. > :04:33.our own fan base. We believe there are many brands in Asia that wants
:04:34. > :04:38.to harness the power of football. Will that fan base translate into
:04:39. > :04:43.more money for the clubs? The bigger the fan base the more attractive it
:04:44. > :04:48.becomes for commercial partners. They want a consistent platform to
:04:49. > :04:54.be able to engage with customers and fans. Whether they be regional or
:04:55. > :04:58.local brands that want to activate in local territories. Where do you
:04:59. > :05:02.see the biggest growth markets in Asia? Southeast Asia in particular
:05:03. > :05:08.has proven to be very interesting from a growth perspective. We have
:05:09. > :05:11.had a lot of success in the last few years, both in terms of developing
:05:12. > :05:17.new partnerships in the region. We have more than ten partners just
:05:18. > :05:21.from South East Asia. Outside of Southeast Asia we have seen many
:05:22. > :05:25.opportunities in places like China and Japan. The Chinese president is
:05:26. > :05:32.a huge fan of football, having recently visited Manchester City's
:05:33. > :05:36.facilities. Chinese billionaires have invested hundreds of billions
:05:37. > :05:42.of dollars into football and they love is it a good investment? Yes.
:05:43. > :05:50.If you do it right. We have demonstrated with Manchester City
:05:51. > :05:58.which has just recently shown for the first time since 2008. If you do
:05:59. > :06:03.it right... -- shown profits. If you have TV revenue, match their
:06:04. > :06:08.revenue, merchandise, international tours. If you can exploit that
:06:09. > :06:18.properly, you are able to generate a sustainable business that delivers
:06:19. > :06:24.profits at the highest level. Another business making headlines,
:06:25. > :06:32.the bank of China has been made to pay a fine of 15,000 dollars a day
:06:33. > :06:36.for selling fake luxury goods. The bank has been held in contempt of
:06:37. > :06:40.court and will have to start paying the daily penalty from next week.
:06:41. > :06:50.The bank of China is planning to appeal the order and they find. --
:06:51. > :06:54.the fine. Borrowers could you lend up to $15 billion a year for the
:06:55. > :07:02.next five years. The President-elect of the investment bank will start
:07:03. > :07:06.operations by 2016. Running a family business is never easy. As Bachelet
:07:07. > :07:16.when you are far from home. -- especially. One chef in Italy
:07:17. > :07:28.setting up in Singapore has had a hot pot of challenges. -- chef
:07:29. > :07:36.from. We have the details. -- he is the chef, his wife helps and he has
:07:37. > :07:45.three daughters. This family is now based in Singapore. -- He is. Family
:07:46. > :07:50.is everything for them. I moved from Italy when I was 50 years old. I did
:07:51. > :07:54.not know the language or the culture or the food. Not even the product or
:07:55. > :08:00.the supplier or the customers... It was a very big challenge.
:08:01. > :08:05.Competition is fierce in Singapore's food and beverage
:08:06. > :08:13.industry. Rent is high and it is hard to find and retain the right
:08:14. > :08:20.staff. Don't touch! Plus, it is not always easy working with the ones
:08:21. > :08:28.you love. My family is all women. I am the only man. We are lucky. All
:08:29. > :08:35.the men in the world belonged to women. If you have many women you
:08:36. > :08:38.are very lucky. -- belong. He used to have six restaurants in
:08:39. > :08:44.Singapore, but trying to run all of them made him lose his personal
:08:45. > :08:55.touch. He decided to sell all but one of them. It is not possible.
:08:56. > :08:58.One, that is it. From people to the decor, it is very much a family
:08:59. > :09:03.affair at this restaurant. Recipes have been passed down over
:09:04. > :09:08.generations. The philosophy is simple, make customers feel at home
:09:09. > :09:17.with home-cooked Italian food. Daughters, Serena and Gaia, along
:09:18. > :09:24.with his niece, Julia, are the next generation. There is no pressure to
:09:25. > :09:28.stay, but the prospect of taking over from Oswaldo and Patricia is
:09:29. > :09:32.daunting. I don't think I could do it. With the organisation of my
:09:33. > :09:40.father, everything is like in the right place. It is like a watch.
:09:41. > :09:48.Everything is working in the proper way at the right time. Italian
:09:49. > :09:51.temperaments can run hot and spicy. But with cooking and hospitality in
:09:52. > :09:58.their blood, they put family first for their restaurant and there
:09:59. > :10:05.customers. Sarah Thomas, BBC News, Singapore. Before we go, here is a
:10:06. > :10:08.quick look at the markets. Asia is slipping in early Wednesday trade.
:10:09. > :10:14.This is where they stand at the moment. The Japanese yen has
:10:15. > :10:20.strengthened against the US dollar overnight. This basically impacts
:10:21. > :10:31.export stocks. The all older dairies index in Sydney is better than
:10:32. > :10:38.expected. -- All Ordinaries Index. Thankyou very much for investing
:10:39. > :10:44.your time in our. I am Rico Hizon. -- us. Goodbye for now. You are
:10:45. > :10:45.watching BBC News. The top stories