Browse content similar to 02/12/2015. Check below for episodes and series from the same categories and more!
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The 69-year-old, known as The Yorkshire Ripper, is serving | :00:00. | :00:00. | |
Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:15. | |
Answers for the families of those in the AirAsia crash. Just like mother | :00:16. | :00:28. | |
used to make. And Italian restaurant in Asia. -- an. Good morning, Asia, | :00:29. | :00:38. | |
hello, world. Thank you for joining us. I am Rico Hizon in Singapore. | :00:39. | :00:46. | |
AirAsia's Chief Executive says there are lessons from the crash of the | :00:47. | :00:54. | |
flight in December killing 162 people. The other shall report says | :00:55. | :01:00. | |
problems with a faulty rudder system and how the pilots responded | :01:01. | :01:04. | |
contributed to this tragedy. -- official. Mr Fernandes has said | :01:05. | :01:12. | |
there is much to be learned for the company, the manufacturer, and the | :01:13. | :01:16. | |
aviation industry. He added, we will not leave any stone unturned to make | :01:17. | :01:20. | |
sure the industry learns from this tragic incident. Earlier, I asked a | :01:21. | :01:27. | |
lawyer what this would mean for Asia's biggest budget airline. The | :01:28. | :01:32. | |
report talks about three events that led to the accident, the crack of | :01:33. | :01:37. | |
the soldering on the rudder, the attempt to reset the plane, and the | :01:38. | :01:45. | |
stalling of the aircraft. With this report, can the relatives of the | :01:46. | :01:50. | |
passengers finally have a class-action suit against AirAsia | :01:51. | :01:57. | |
and Mr Fernandes? It depends. The report actually protects, in a way, | :01:58. | :02:03. | |
the actions of the crew, by saying they were not required to be trained | :02:04. | :02:09. | |
by the anti- factor is... This report is neutral? -- many | :02:10. | :02:20. | |
manufacturers. The damage started with the Malaysian airline's lost. | :02:21. | :02:31. | |
Many tourists are not going to South East Asia. -- loss. That was the | :02:32. | :02:35. | |
main loss. One thing to note is that the aviation industry is very well | :02:36. | :02:42. | |
insured to be any claims that come out of the 162 loss of lives is | :02:43. | :02:47. | |
covered. But their premiums could also go up as a result only if they | :02:48. | :02:52. | |
can prove that the loss was due to negligence. What does this mean for | :02:53. | :02:59. | |
AirAsia, which also wants to go private? Could this be detrimental | :03:00. | :03:04. | |
for them in trying to buy back the shares or get additional investors | :03:05. | :03:09. | |
for them to go from public to private? Business activity wise, | :03:10. | :03:15. | |
economic activity, they are very well insured for this event, as I | :03:16. | :03:22. | |
said, I don't think it will have that material effect on then. -- | :03:23. | :03:28. | |
them. The Australian economy expanded by 2.5 cent in the three | :03:29. | :03:40. | |
months till December. -- %. That is due to rising exports. It beat | :03:41. | :03:47. | |
expectations. And economic slowdown of China and a slumping mining | :03:48. | :03:51. | |
industry did not prevent the economy from picking up momentum in the | :03:52. | :03:54. | |
quarter. It was a British football club visited by Xi Jinping just | :03:55. | :04:00. | |
weeks ago, now a consortium of high-profile companies has had 400 | :04:01. | :04:06. | |
million US dollars in the group which owns just a city. They bought | :04:07. | :04:14. | |
a 13% stake. -- Manchester City. We spoke to the commercial director of | :04:15. | :04:19. | |
the group about a focus on Asia. Football and the Premier League has | :04:20. | :04:24. | |
never been as popular as the day in Asia. We are seeing that in terms of | :04:25. | :04:29. | |
our own fan base. We believe there are many brands in Asia that wants | :04:30. | :04:33. | |
to harness the power of football. Will that fan base translate into | :04:34. | :04:38. | |
more money for the clubs? The bigger the fan base the more attractive it | :04:39. | :04:43. | |
becomes for commercial partners. They want a consistent platform to | :04:44. | :04:48. | |
be able to engage with customers and fans. Whether they be regional or | :04:49. | :04:54. | |
local brands that want to activate in local territories. Where do you | :04:55. | :04:58. | |
see the biggest growth markets in Asia? Southeast Asia in particular | :04:59. | :05:02. | |
has proven to be very interesting from a growth perspective. We have | :05:03. | :05:08. | |
had a lot of success in the last few years, both in terms of developing | :05:09. | :05:11. | |
new partnerships in the region. We have more than ten partners just | :05:12. | :05:17. | |
from South East Asia. Outside of Southeast Asia we have seen many | :05:18. | :05:21. | |
opportunities in places like China and Japan. The Chinese president is | :05:22. | :05:25. | |
a huge fan of football, having recently visited Manchester City's | :05:26. | :05:32. | |
facilities. Chinese billionaires have invested hundreds of billions | :05:33. | :05:36. | |
of dollars into football and they love is it a good investment? Yes. | :05:37. | :05:42. | |
If you do it right. We have demonstrated with Manchester City | :05:43. | :05:50. | |
which has just recently shown for the first time since 2008. If you do | :05:51. | :05:58. | |
it right... -- shown profits. If you have TV revenue, match their | :05:59. | :06:03. | |
revenue, merchandise, international tours. If you can exploit that | :06:04. | :06:08. | |
properly, you are able to generate a sustainable business that delivers | :06:09. | :06:18. | |
profits at the highest level. Another business making headlines, | :06:19. | :06:24. | |
the bank of China has been made to pay a fine of 15,000 dollars a day | :06:25. | :06:32. | |
for selling fake luxury goods. The bank has been held in contempt of | :06:33. | :06:36. | |
court and will have to start paying the daily penalty from next week. | :06:37. | :06:40. | |
The bank of China is planning to appeal the order and they find. -- | :06:41. | :06:50. | |
the fine. Borrowers could you lend up to $15 billion a year for the | :06:51. | :06:54. | |
next five years. The President-elect of the investment bank will start | :06:55. | :07:02. | |
operations by 2016. Running a family business is never easy. As Bachelet | :07:03. | :07:06. | |
when you are far from home. -- especially. One chef in Italy | :07:07. | :07:16. | |
setting up in Singapore has had a hot pot of challenges. -- chef | :07:17. | :07:28. | |
from. We have the details. -- he is the chef, his wife helps and he has | :07:29. | :07:36. | |
three daughters. This family is now based in Singapore. -- He is. Family | :07:37. | :07:45. | |
is everything for them. I moved from Italy when I was 50 years old. I did | :07:46. | :07:50. | |
not know the language or the culture or the food. Not even the product or | :07:51. | :07:54. | |
the supplier or the customers... It was a very big challenge. | :07:55. | :08:00. | |
Competition is fierce in Singapore's food and beverage | :08:01. | :08:05. | |
industry. Rent is high and it is hard to find and retain the right | :08:06. | :08:13. | |
staff. Don't touch! Plus, it is not always easy working with the ones | :08:14. | :08:20. | |
you love. My family is all women. I am the only man. We are lucky. All | :08:21. | :08:28. | |
the men in the world belonged to women. If you have many women you | :08:29. | :08:35. | |
are very lucky. -- belong. He used to have six restaurants in | :08:36. | :08:38. | |
Singapore, but trying to run all of them made him lose his personal | :08:39. | :08:44. | |
touch. He decided to sell all but one of them. It is not possible. | :08:45. | :08:55. | |
One, that is it. From people to the decor, it is very much a family | :08:56. | :08:58. | |
affair at this restaurant. Recipes have been passed down over | :08:59. | :09:03. | |
generations. The philosophy is simple, make customers feel at home | :09:04. | :09:08. | |
with home-cooked Italian food. Daughters, Serena and Gaia, along | :09:09. | :09:17. | |
with his niece, Julia, are the next generation. There is no pressure to | :09:18. | :09:24. | |
stay, but the prospect of taking over from Oswaldo and Patricia is | :09:25. | :09:28. | |
daunting. I don't think I could do it. With the organisation of my | :09:29. | :09:32. | |
father, everything is like in the right place. It is like a watch. | :09:33. | :09:40. | |
Everything is working in the proper way at the right time. Italian | :09:41. | :09:48. | |
temperaments can run hot and spicy. But with cooking and hospitality in | :09:49. | :09:51. | |
their blood, they put family first for their restaurant and there | :09:52. | :09:58. | |
customers. Sarah Thomas, BBC News, Singapore. Before we go, here is a | :09:59. | :10:05. | |
quick look at the markets. Asia is slipping in early Wednesday trade. | :10:06. | :10:08. | |
This is where they stand at the moment. The Japanese yen has | :10:09. | :10:14. | |
strengthened against the US dollar overnight. This basically impacts | :10:15. | :10:20. | |
export stocks. The all older dairies index in Sydney is better than | :10:21. | :10:31. | |
expected. -- All Ordinaries Index. Thankyou very much for investing | :10:32. | :10:38. | |
your time in our. I am Rico Hizon. -- us. Goodbye for now. You are | :10:39. | :10:44. | |
watching BBC News. The top stories | :10:45. | :10:45. |