:00:17. > :00:24.The boss of Yahoo announces massive job cuts after posting steep losses
:00:25. > :00:30.but can she said her own job is no and propping up South Korea's
:00:31. > :00:36.faltering economy. The new plans will be revealed -- can she said her
:00:37. > :00:45.own job? Good morning, Asia, Halliwell. Glad you can join us for
:00:46. > :00:49.this Wednesday to edition of Asia Business Report -- hello world. We
:00:50. > :00:54.start with struggling business giant Iowa which has announced massive
:00:55. > :00:57.reductions, 15% of the workforce will be gone by the year end. The
:00:58. > :01:04.announcement was made after the company said it lost over $4 billion
:01:05. > :01:07.last year. It is planning to simple fight its product portfolio. It is
:01:08. > :01:12.believed to be the last chance for the company's boss to persuade
:01:13. > :01:17.investors that she can revive Yahoo. I asked our correspondent in New
:01:18. > :01:20.York how Yahoo is trying to restructure its business. Many
:01:21. > :01:25.investors are still trying to find the answer to it. There is a couple
:01:26. > :01:29.of things. This is a business that still has a huge audience that
:01:30. > :01:32.visits its site daily. The problem is that the actual money it makes of
:01:33. > :01:38.them has been declining for some time. In fact, the most valuable
:01:39. > :01:42.part of the company is its stake in Alibaba. Investec have been
:01:43. > :01:47.pressuring the company to try to spin off that stake. -- investors.
:01:48. > :01:50.It was unable to do so for tax reasons and that was when
:01:51. > :01:54.discussions arose about whether or not it would consider selling off
:01:55. > :01:59.its core business. The company is saying today that it wants to focus
:02:00. > :02:04.on a new streamlined, simplified business model, which will involve
:02:05. > :02:08.selling off some businesses. But at the same time, if you read closely
:02:09. > :02:11.in this earnings report, they also say they can't rule out the
:02:12. > :02:14.possibility that the core business could ultimately go on sale further
:02:15. > :02:18.down the line. In the meantime, they are going for this one last-ditch
:02:19. > :02:23.attempt to try to see if they can turn things around with their
:02:24. > :02:27.simplified business. But also saving costings by laying off as you
:02:28. > :02:35.mentioned thousands of employees and also closing five officers. All
:02:36. > :02:39.right. Parisse mayor is on top of the streamlining of operations,
:02:40. > :02:47.joining Yahoo from Google in 2012 but she has failed to help their
:02:48. > :02:54.spend it, can she said her job? We will wait and see because it is her
:02:55. > :03:00.last chance to save her position. Part of the reason she arrived, she
:03:01. > :03:04.was how does just what they need but since then revenues have still been
:03:05. > :03:09.down and companies like Google and Facebook continue to gain traction
:03:10. > :03:13.with advertisers, especially in the mobile section. I was listening to
:03:14. > :03:18.Marissa Mayer talking just now about her plans to try to revive the
:03:19. > :03:23.company's fortunes. She wants to focus on a couple of key markets.
:03:24. > :03:30.Where you are particularly, in Hong Kong and Taiwan, which you would
:03:31. > :03:36.like to do particularly through Search, Tumblr, three news, sport
:03:37. > :03:42.and lifestyle. Whether or not those bets will pay off, and whether they
:03:43. > :03:45.can appeal crucially to users on mobile devices and social networks
:03:46. > :03:50.will really be at the heart of the company's success in future. Those
:03:51. > :03:59.other plans mentioned by Michelle failing to impress investors, with
:04:00. > :04:04.shares of that Yahoo falling in value by more than one third over
:04:05. > :04:10.the last 12 months. Moving to other news making headlines. Oil prices
:04:11. > :04:15.falling sharply with Brent crude down 5%, and that is affecting US
:04:16. > :04:21.oil giant Exxon Mobil. Profits have fallen a third in the last three
:04:22. > :04:27.months or 2015. This follows rivals Chevron and BP, both reporting large
:04:28. > :04:32.losses for the fourth quarter. Indian carmaker Tatar Motors says it
:04:33. > :04:36.will rename the forthcoming Zica hatchback after the similarly named
:04:37. > :04:40.Zika virus sparked the global emergency. The car goes on show in
:04:41. > :04:45.Delhi later today. The Zika virus has reached more than 20 countries
:04:46. > :04:50.and territories. China's biggest foreign acquisition is in the
:04:51. > :04:56.pipeline. China national chemicals Corporation is closing in on a $43
:04:57. > :05:04.billion deal to buy the Swiss testify giant Syngenta. The deal
:05:05. > :05:06.could be announced on Wednesday when Syngenta's results are published.
:05:07. > :05:14.Japanese maker Nintendo have reported that sales have been weak.
:05:15. > :05:18.The results add to pressure on Nintendo to formally announce a new
:05:19. > :05:24.game machine. It has reportedly been preparing a forthcoming Nintendo MX.
:05:25. > :05:27.The South Korean government is expected to unveil stimulus images
:05:28. > :05:33.it is today following a spate of dismal economic reports -- stimulus
:05:34. > :05:37.measures. There is increased uncertainties due to the volatility
:05:38. > :05:42.in the Chinese stock market. There is also the falling oil prices and
:05:43. > :05:46.negative interest rates adopted by Japan's central bank. Asia's
:05:47. > :05:51.fourth-largest economy is dependent on exports, but these have plunged
:05:52. > :05:54.by nearly 20% last month. Its annual inflation rate also called to its
:05:55. > :06:00.lowest level in four months in January. So what kind of measures
:06:01. > :06:07.will help? I put that question to Tony Michelle, managing director of
:06:08. > :06:13.the consultancy group KABC in Seoul. Job growth and supporting exports,
:06:14. > :06:18.new exporters, and new markets, but we have a general election here in
:06:19. > :06:22.April. Always in February, unemployment spikes. So, there will
:06:23. > :06:27.be a bad figure coming out there. And hopefully you can say, look, I
:06:28. > :06:37.have got the measures in place, this will, despite this will disappear.
:06:38. > :06:39.These measures, plus the fact that the Korean yuan is one of the worst
:06:40. > :06:46.performing currencies in Asia this year, will this help pump the Korean
:06:47. > :06:51.economy? I don't think the economy is in bad shape. Last week we had
:06:52. > :06:57.the fourth quarter GDP figures, 3% year-on-year. Highest growth
:06:58. > :07:05.capital, fixed capital investment, since 2010. Consumption, highest
:07:06. > :07:10.since 2012. So, the economy last year, in the final quarter, was
:07:11. > :07:16.really going very well indeed. It is sagging, particular exploit. So, a
:07:17. > :07:22.bit of help, a bit of intelligent help in exporting, that will
:07:23. > :07:26.certainly work. For many women putting on make-up is part of their
:07:27. > :07:33.daily routine. And for those who are blind, this beauty ritual is indeed
:07:34. > :07:37.daunting. One maker in Singapore is making it easier and inspiring
:07:38. > :07:41.confidence, giving free lessons to visually impaired women. As part of
:07:42. > :07:47.our series on the business of giving, Sarah Toms reports. For many
:07:48. > :07:53.women, putting on make-up transforms not only how they look but also how
:07:54. > :07:58.they feel. I want you to feel... For the blind or visually impaired,
:07:59. > :08:03.getting that confidence boost is a bigger challenge. It is one well
:08:04. > :08:09.appreciated why professional make up artist Moira co-ops. Diagnosed with
:08:10. > :08:15.glaucoma, emergency surgery stopped her from losing her site by the
:08:16. > :08:22.scare helped her with other women -- Coops. I am so faint! I have to put
:08:23. > :08:26.on make-up line. I decided that was it, lights out, I would do make-up
:08:27. > :08:29.made a couple of mistakes but after three days I got it down pat and I
:08:30. > :08:36.thought, well, if I can do it, everyone else can do it. She came up
:08:37. > :08:41.with the beautiful eyes project 18 months ago and in a free two-hour
:08:42. > :08:45.course she teaches blind and visually impaired women how to apply
:08:46. > :08:48.everything from eyeshadow to foundation -- Beautiful Eyes
:08:49. > :08:52.Project. I lost my sight when I was a teenager. So I just put on light
:08:53. > :08:57.make-up. Of course I want to be like any other girl, with nice make-up
:08:58. > :09:01.on. I want to look good. Normally I would just go to the beauty salon
:09:02. > :09:07.and pay someone to do up on me but now I think I feel so much more
:09:08. > :09:12.confident to do it on my own. I just want someone to tell me if I look
:09:13. > :09:16.OK. Moira developed a kit easier for visually impaired women to use.
:09:17. > :09:20.Like, the brushes are different sizes. So far I got quite good
:09:21. > :09:27.complement and people have said I look good, you look awesome today,
:09:28. > :09:32.and, you know, how do you do it, because I only have 5% of my vision.
:09:33. > :09:36.Of course, that made me feel good too. When you know you look good you
:09:37. > :09:43.feel good and that is an awesome feeling, to be able to go out. I
:09:44. > :09:48.feel like I am power. White Moira hopes to get funding to train staff
:09:49. > :09:53.at either hospitals in Singapore so they too can teach them a cup
:09:54. > :09:58.lessons -- Moira. Hopefully, I will find a corporate sponsor who will
:09:59. > :10:03.help -- teaches them make-up lesson. If it goes ahead she would like to
:10:04. > :10:06.expand her charity to Europe, the Americas and elsewhere in Asia. That
:10:07. > :10:16.will help more women feel good about themselves. Asian stock markets
:10:17. > :10:22.sentiment is weak in early Wednesday trade as you can see with the Nikkei
:10:23. > :10:28.down 3.4% and the warlords 1.4%. China has opened for business and it
:10:29. > :10:31.is in negative territory because of falling oil prices -- All Ords.
:10:32. > :10:32.Thank you so much for in investing your time with us. I am Rico Hizon.
:10:33. > :10:38.Goodbye for now. The United States has reported
:10:39. > :10:51.its first case of the Zika virus contracted
:10:52. > :10:53.locally, most probably through sex. David Cameron hails a draft deal
:10:54. > :10:55.as delivering substantial change to