:00:00. > :00:13.Now on BBC News all the latest business news live from Singapore.
:00:14. > :00:29.Australia's stock exchange surges as the current was steps down --
:00:30. > :00:32.current boss. And, some Japanese companies are pinning their hopes on
:00:33. > :00:49.older workers. Welcome to 80 Business Report. --
:00:50. > :00:54.Asia. The Australian business exchange will open this morning
:00:55. > :01:00.without its CEO. He resigned amid allegations of ride in a company he
:01:01. > :01:06.used to run. Earlier I asked our reporter in Sydney about these
:01:07. > :01:12.allegations and what they focus on. It is alleged that a bribe was paid
:01:13. > :01:21.to the family of the Cambodian president about six years ago, and
:01:22. > :01:34.that that ride was allegedly paid by Australia's gambling giant, TabCorp,
:01:35. > :01:40.when the CEO was at that company. They were looking for a way into
:01:41. > :01:43.Cambodia's lucrative online gambling industry, and that alleged payment
:01:44. > :01:50.is now the focus of an international anti bribery investigation headed by
:01:51. > :01:52.Australia's Federal Police. Ye outlined some investigations, but
:01:53. > :02:01.there has been no actual admission of wrongdoing? No, TabCorp has made
:02:02. > :02:08.no admission of wrongdoing. They have said that they take the
:02:09. > :02:12.allegations very seriously. It is worth noting that it has been
:02:13. > :02:15.reported in Cambodia that a government official has described
:02:16. > :02:24.the allegations as absolutely baseless. We have heard from an
:02:25. > :02:28.Australian newspaper that the former CEO said that the integrity of the
:02:29. > :02:32.Australian stock exchange was far more important than his own personal
:02:33. > :02:37.integrity, and that is why he step down. To protect the reputation of
:02:38. > :02:43.the Australian Stock Exchange. He has denied any wrongdoing, saying
:02:44. > :02:47.that the situation he has found himself in is unfair and a trial by
:02:48. > :02:51.media. He also said it was a situation which was ruining his
:02:52. > :02:54.life, but he had to rise above it for the good of one of Australia's
:02:55. > :02:59.most important financial institutions. As you said, the
:03:00. > :03:03.Australian Stock Exchange, one of the most important Australian
:03:04. > :03:07.financial institutions. Has there been much reaction? There is an
:03:08. > :03:14.appreciation in the media commentary. It is such an important
:03:15. > :03:21.position that he held, he had no option but to step down while the
:03:22. > :03:26.investigation takes its course. We have a breaking story this morning.
:03:27. > :03:33.The FBI says that they may have found a way to access the iPhone
:03:34. > :03:37.which was involved in the terrorist attack in San Bernardino last year.
:03:38. > :03:42.They have been given time to try to break the phone with out Apple's
:03:43. > :03:47.help. The US government has taken action against Apple, demanding they
:03:48. > :04:01.write new software to help access the data on the phone. And a bidding
:04:02. > :04:07.war over Starwood hotels. Marriot is back on top, having boosted its
:04:08. > :04:13.offer to $13.6 billion. They have signed a merger agreement, but it is
:04:14. > :04:19.not clear as yet whether there will be another bid. PayPal hopes to
:04:20. > :04:27.bring its service to Cuba by the end of the year. Barack Obama has taken
:04:28. > :04:33.a number of CEOs on his historic visit to Cuba, one of them was the
:04:34. > :04:41.CEO of PayPal who says that they could help open up economic
:04:42. > :04:53.opportunities in the country. Asia loses a fast -- vast amount of water
:04:54. > :04:58.and revenue due to broken pipes. We will have a look at whether the
:04:59. > :05:03.government plans to make changes to the systems will make a difference.
:05:04. > :05:09.We spoke with the regional Managing Director. It is a physical plan, and
:05:10. > :05:13.if you look back at the perspective of what they are trying to achieve,
:05:14. > :05:17.they are trying to achieve efficiencies in the system. They
:05:18. > :05:20.would don't want to reduce the cost of operation, they want to deliver
:05:21. > :05:27.quality water to the people. At the same time, a big population in
:05:28. > :05:32.Malaysia are not connected to the treatment facility. By doing this
:05:33. > :05:35.rationalisation, they would be able to offer better service to their own
:05:36. > :05:39.people. How can we be sure that the government could do this better? I
:05:40. > :05:44.think it will take some time, but I am confident that over time they
:05:45. > :05:50.will be able to achieve it. This process started a decade ago, it
:05:51. > :05:57.doesn't happen overnight. They are trying to gain efficiency in the
:05:58. > :06:01.system, with the effect of building capabilities to offer clean water to
:06:02. > :06:11.a big population and take the economy to a next level. I am
:06:12. > :06:16.confident it can be done. 36% of the water in Malaysia is being lost or
:06:17. > :06:22.leaked. Why is that? Malaysia is not the only country. That 36% is pretty
:06:23. > :06:30.typical. Indonesia, Malaysia, Thailand, they are all in that
:06:31. > :06:38.ballpark. The interesting thing is that 50% of it can be prevented. The
:06:39. > :06:46.losses are really eating into the grid. Discussion of an ageing
:06:47. > :06:50.population is often dominated by worries about the potential drain on
:06:51. > :06:53.the economy, with rising healthcare and pension costs. But in Japan,
:06:54. > :06:57.some companies and communities are starting to see the benefits of a
:06:58. > :07:03.rapidly growing number of older people. As part of our special
:07:04. > :07:13.series, jumpstarting Japan, we take a look at the shift in attitude.
:07:14. > :07:21.Turning to a client's rooftop garden in central Tokyo. Three years after
:07:22. > :07:26.retiring from his life long job, this man signed up for part-time
:07:27. > :07:34.work. This is the company which got him the job. The company name means
:07:35. > :07:38.the elderly in Japanese. Their mission is to help retirees who are
:07:39. > :07:44.still keen to be part of the workforce. Today, they have over 750
:07:45. > :07:49.registered members. The average age is 69, with the oldest at 81 years
:07:50. > :07:52.old. They can choose from various assignments, such as looking at
:07:53. > :07:58.restaurants or being personal drivers.
:07:59. > :08:03.TRANSLATION: At our age, most of us don't want to work full-time. But
:08:04. > :08:07.putting in two or three days a week doesn't affect pensions, and being
:08:08. > :08:12.able to earn an extra $1000 a month is nice. Our members say it is great
:08:13. > :08:18.to be able to work again, because we feel like our energy and talent is
:08:19. > :08:22.wasted. Japan is one of the fastest ageing populations in the world, and
:08:23. > :08:27.it is a burden on the economy. With a falling birth rate, it means that
:08:28. > :08:34.there are fewer people paying Social Security, spending on healthcare and
:08:35. > :08:38.pensions accounts for a third of the national budget. Instead of doing
:08:39. > :08:46.away with the old, the government wants companies and communities to
:08:47. > :08:50.see them as a silver lining. Here, these retired business and greet the
:08:51. > :08:57.children every morning and make sure they get to school safely. This is
:08:58. > :09:02.75-year-old is the leader of the group, and he has been volunteering
:09:03. > :09:06.for ten years. He says the key to a successful transition after
:09:07. > :09:07.retirement is to shake off the hierarchy entrenched in the working
:09:08. > :09:17.world. TRANSLATION: I was an engineer for a
:09:18. > :09:21.company. He won't discuss his professional past, but he says it is
:09:22. > :09:27.important for people in his group to be able to treat each other equally,
:09:28. > :09:36.even if someone was or a diplomat. -- was a CEO or a diplomat. The
:09:37. > :09:42.children have put together this surprise ceremony to thank the
:09:43. > :09:45.volunteers. The mix of young and old has been a hit for this community,
:09:46. > :09:49.but it is still a rare success story.
:09:50. > :10:03.Our series, Jumpstarting Japan, continues tomorrow. We will take a
:10:04. > :10:06.look at whether there is any help in the Japanese practice of paying the
:10:07. > :10:19.younger workers more than their elderly colleagues. We will take a
:10:20. > :10:27.look at the markets now. We can see the US dollar getting a boost. Some
:10:28. > :10:30.talk about the Fed possibly changing rates sooner rather than later.