26/07/2016 Asia Business Report

Now on BBC News, all the latest business news live from Singapore.

The Democrats take centre stage in a bid for the White House. Will

Hillary Clinton be a friend or foe to the Asian businesses? And she is

one of very few female tech bosses, but her days are numbered as a

multimillion dollar takeover is confident at Yahoo. -- confirmed.

Good morning! Glad you could join us for this edition of Asia Business

Report. Hillary Clinton had Asia on her list of top priorities when she

served as the US Secretary of State. Now the presumptive Democratic

candidate says she wants to strengthen economic relations with

the region, especially China. But is that what voters want? Earlier I

spoke with someone from Control Risk and ask if the Trans-Pacific

Partnership deal, put together during the Obama administration,

will still go ahead if Hillary Clinton wins the election in

November. The key thing to remember is she was the architect of the read

-- Trans-Pacific Partnership, so it is difficult for her to now come out

and say she is for it. She has clearly said that it doesn't pass

the high bar that it sets for workers, but she was an architect

for it from the beginning and I think her hope is that it passes in

the US. Because of course it will they come into force with Japan and

the United States leading the pack. Everyone has to ratify it, Vietnam,

Malaysia, all of those other countries are looking at it. But no

one will ratify it we believe until the US does. So all eyes are on the

US. But the clamour of Americans right now is jobs, jobs, jobs. Jobs

creation. You think in one way or another Hillary Clinton good abandon

Asia because America wants jobs? Yes, but she also sees the challenge

with US and China. It is very interdependent and complex and I

think the message we will see this week is that she is a safe pair of

hands with the domestic economy and the international economy. She knows

Asia well. She was here 62 times as Secretary of State. That must you

record number. Yes, she is a terrific advisor. I think that's the

message. It is about engaging the Chinese, especially now with this

case of the Philippines, with this international tribunal. They need

her. Yes, and she knows Asia really well and I think we will see some of

that messaging, this week. The South Korean economy expanded in the

second quarter, when compared with the first quarter. That's mostly due

to a pickup in domestic consumption, as well as business is pumping in

more money to capital expenditure. And to help give a further boost to

the economy, the government will present a supplementary budget to

Parliament later today, with a focus on creating new jobs. This is to

make up for the massive job cuts from the shipping and building

industries, which have been struggling. General Motors is

rethinking the planned $1 billion investment in India after a dramatic

fall in sales. More than 5000 new cars are sold in India every day and

foreign companies have been piling in. But it is proving to be a

struggle. This report from Delhi. Making cars for India's aspiring

middle-class, it is one of the two General Motors Indian factories. It

had big ambitions for the country, but things aren't going to plan.

Just last year it said it would invest $1 billion into India. But GM

India sales fell 40% in the year to March and now the firm says it will

have a full review of its operation. In fact, India has turned out to be

such a difficult market to operate in that a former high-ranking

employee has told me that he wouldn't be surprised if the company

closes down one of the two factor is it operates in the country. So

what's gone wrong? Partly it is down to what consumers here want. Indians

want cars that are high value for their money and they want bakers

that can be resold easily. -- makers. Other dominating makers have

so far managed to deliver on that. GM is not the only foreign company

to be battling to correct India's the car market. Volkswagen and

Nissan who opened this factory in Chennai are struggling to get the

geeks -- significant sales in the price sensitive market. But while GM

shares have fallen below 1% in the domestic market, the firm has seen a

rise in exports. It is up 12 fall on last year. Like many other

international car makers, the Indian factories could become key export

hubs. Being the darling of the internet

age is no guarantee of longevity. Just ask Yahoo. The business has

gone from being a giant of the internet to a cog in someone else's

corporate machine. Plans to combine its core business with that of

another fallen into that started all last year, AOL. We have been

tracking this development in New York.

Happy days for Yahoo! 'S bosses. Shares in the incident pioneer

soared back on their first trading day back in 1996. This Monday,

another milestone. The end of Yahoo the company, as its core business

was sold to Horizon. In a statement the boss of the giant said:

Yahoo! 'S value and technology should help them achieve this. In

addition, AOL. -- Verizon gets lots of their products. It isn't a

fantastic end to the company. It is being sold for a fraction of its

initial value. An analyst explained how A4 three it is all about digital

advertising. The key to Verizon is they see that cellular plans will

become commoditised. They want to push into advertising and so they

don't necessarily want the front page of Yahoo, but they want what's

behind it. That's one of the reasons why they weren't willing to pay that

much for it and it turned out there weren't that many readers interested

in paying much for what is left of Yahoo. What next for Marissa Mayer,

the CEO, whose attempts to revive the company failed? For now she is

staying put, telling employees it is important to her to see Yahoo! 'S

next chapter. Verizon is hoping to put more content in front of its

subscribers in a bid to challenge Google and Facebook when it comes to

digital advertising revenue. But whether or not that works remains to

be seen. Either way, that's the idea behind this deal.

The sale of Yahoo sees Marissa Mayer is probably the only boss of a big

tech company who most people could name. Women are badly represented in

the sector. My colleague has been speaking to someone hoping to change

that landscape. It is a 29-year-old woman who founded a female Bronze

Age capital firm to fund technology start-ups by women. --

technological. But business and I are both under 30 and so it is very

challenging to do what we do. Investors tend to give a chance to

first-time founders, at front managers are different. They want a

solid track record and they want to see the investment history, which at

this stage is hard to accumulate, the level others could have. What

are some of the challenges you've been facing? If you look at the

start it is kind of depressing because the year between 2011 and

2013, only 2.7% of all venture capital funding went to women CEOs

and statistics show that an all-male team is four times more likely to

get funding, compared to a female lead team. However, they see firms

-- VC -- there has been a finding that a team with at least one female

founder performed 63% better than an all-male team. That was a venture

capitalist, speaking to us. Before we go, a look at the markets. In

early trading the Asian markets are open and they are currently weak,

down by a full % for the Nikkei. US shares overnight finished lower.

Energy companies fell, as the price of oil took another turn. Thanks for

your time. Goodbye for now. The top stories this hour: A knife

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