03/02/2016 Asia Business Report

The boss of Yahoo announces massive job cuts after posting steep losses

but can she said her own job is no and propping up South Korea's

faltering economy. The new plans will be revealed -- can she said her

own job? Good morning, Asia, Halliwell. Glad you can join us for

this Wednesday to edition of Asia Business Report -- hello world. We

start with struggling business giant Iowa which has announced massive

reductions, 15% of the workforce will be gone by the year end. The

announcement was made after the company said it lost over $4 billion

last year. It is planning to simple fight its product portfolio. It is

believed to be the last chance for the company's boss to persuade

investors that she can revive Yahoo. I asked our correspondent in New

York how Yahoo is trying to restructure its business. Many

investors are still trying to find the answer to it. There is a couple

of things. This is a business that still has a huge audience that

visits its site daily. The problem is that the actual money it makes of

them has been declining for some time. In fact, the most valuable

part of the company is its stake in Alibaba. Investec have been

pressuring the company to try to spin off that stake. -- investors.

It was unable to do so for tax reasons and that was when

discussions arose about whether or not it would consider selling off

its core business. The company is saying today that it wants to focus

on a new streamlined, simplified business model, which will involve

selling off some businesses. But at the same time, if you read closely

in this earnings report, they also say they can't rule out the

possibility that the core business could ultimately go on sale further

down the line. In the meantime, they are going for this one last-ditch

attempt to try to see if they can turn things around with their

simplified business. But also saving costings by laying off as you

mentioned thousands of employees and also closing five officers. All

right. Parisse mayor is on top of the streamlining of operations,

joining Yahoo from Google in 2012 but she has failed to help their

spend it, can she said her job? We will wait and see because it is her

last chance to save her position. Part of the reason she arrived, she

was how does just what they need but since then revenues have still been

down and companies like Google and Facebook continue to gain traction

with advertisers, especially in the mobile section. I was listening to

Marissa Mayer talking just now about her plans to try to revive the

company's fortunes. She wants to focus on a couple of key markets.

Where you are particularly, in Hong Kong and Taiwan, which you would

like to do particularly through Search, Tumblr, three news, sport

and lifestyle. Whether or not those bets will pay off, and whether they

can appeal crucially to users on mobile devices and social networks

will really be at the heart of the company's success in future. Those

other plans mentioned by Michelle failing to impress investors, with

shares of that Yahoo falling in value by more than one third over

the last 12 months. Moving to other news making headlines. Oil prices

falling sharply with Brent crude down 5%, and that is affecting US

oil giant Exxon Mobil. Profits have fallen a third in the last three

months or 2015. This follows rivals Chevron and BP, both reporting large

losses for the fourth quarter. Indian carmaker Tatar Motors says it

will rename the forthcoming Zica hatchback after the similarly named

Zika virus sparked the global emergency. The car goes on show in

Delhi later today. The Zika virus has reached more than 20 countries

and territories. China's biggest foreign acquisition is in the

pipeline. China national chemicals Corporation is closing in on a $43

billion deal to buy the Swiss testify giant Syngenta. The deal

could be announced on Wednesday when Syngenta's results are published.

Japanese maker Nintendo have reported that sales have been weak.

The results add to pressure on Nintendo to formally announce a new

game machine. It has reportedly been preparing a forthcoming Nintendo MX.

The South Korean government is expected to unveil stimulus images

it is today following a spate of dismal economic reports -- stimulus

measures. There is increased uncertainties due to the volatility

in the Chinese stock market. There is also the falling oil prices and

negative interest rates adopted by Japan's central bank. Asia's

fourth-largest economy is dependent on exports, but these have plunged

by nearly 20% last month. Its annual inflation rate also called to its

lowest level in four months in January. So what kind of measures

will help? I put that question to Tony Michelle, managing director of

the consultancy group KABC in Seoul. Job growth and supporting exports,

new exporters, and new markets, but we have a general election here in

April. Always in February, unemployment spikes. So, there will

be a bad figure coming out there. And hopefully you can say, look, I

have got the measures in place, this will, despite this will disappear.

These measures, plus the fact that the Korean yuan is one of the worst

performing currencies in Asia this year, will this help pump the Korean

economy? I don't think the economy is in bad shape. Last week we had

the fourth quarter GDP figures, 3% year-on-year. Highest growth

capital, fixed capital investment, since 2010. Consumption, highest

since 2012. So, the economy last year, in the final quarter, was

really going very well indeed. It is sagging, particular exploit. So, a

bit of help, a bit of intelligent help in exporting, that will

certainly work. For many women putting on make-up is part of their

daily routine. And for those who are blind, this beauty ritual is indeed

daunting. One maker in Singapore is making it easier and inspiring

confidence, giving free lessons to visually impaired women. As part of

our series on the business of giving, Sarah Toms reports. For many

women, putting on make-up transforms not only how they look but also how

they feel. I want you to feel... For the blind or visually impaired,

getting that confidence boost is a bigger challenge. It is one well

appreciated why professional make up artist Moira co-ops. Diagnosed with

glaucoma, emergency surgery stopped her from losing her site by the

scare helped her with other women -- Coops. I am so faint! I have to put

on make-up line. I decided that was it, lights out, I would do make-up

made a couple of mistakes but after three days I got it down pat and I

thought, well, if I can do it, everyone else can do it. She came up

with the beautiful eyes project 18 months ago and in a free two-hour

course she teaches blind and visually impaired women how to apply

everything from eyeshadow to foundation -- Beautiful Eyes

Project. I lost my sight when I was a teenager. So I just put on light

make-up. Of course I want to be like any other girl, with nice make-up

on. I want to look good. Normally I would just go to the beauty salon

and pay someone to do up on me but now I think I feel so much more

confident to do it on my own. I just want someone to tell me if I look

OK. Moira developed a kit easier for visually impaired women to use.

Like, the brushes are different sizes. So far I got quite good

complement and people have said I look good, you look awesome today,

and, you know, how do you do it, because I only have 5% of my vision.

Of course, that made me feel good too. When you know you look good you

feel good and that is an awesome feeling, to be able to go out. I

feel like I am power. White Moira hopes to get funding to train staff

at either hospitals in Singapore so they too can teach them a cup

lessons -- Moira. Hopefully, I will find a corporate sponsor who will

help -- teaches them make-up lesson. If it goes ahead she would like to

expand her charity to Europe, the Americas and elsewhere in Asia. That

will help more women feel good about themselves. Asian stock markets

sentiment is weak in early Wednesday trade as you can see with the Nikkei

down 3.4% and the warlords 1.4%. China has opened for business and it

is in negative territory because of falling oil prices -- All Ords.

Thank you so much for in investing your time with us. I am Rico Hizon.

Goodbye for now. The United States has reported

its first case of the Zika virus contracted

locally, most probably through sex. David Cameron hails a draft deal

as delivering substantial change to