Browse content similar to 27/07/2016. Check below for episodes and series from the same categories and more!
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arrangements following the attack in front. However, counterterrorism | :00:00. | :00:00. | |
officers insist there is no specific intelligence to suggest imminent | :00:00. | :00:00. | |
attack. Now, let's go to Singapore for the business news live. Our | :00:00. | :00:19. | |
phone users hanging up on Apple? Attacked I impose a drop in sales | :00:20. | :00:25. | |
for the second straight quarter. -- detector imposes. And the bitter | :00:26. | :00:28. | |
taste in the world is the biggest sugar market. -- the tech giant | :00:29. | :00:39. | |
imposes. Good morning Asia, hello world, it is a Wednesday, glad you | :00:40. | :00:43. | |
can join us for this edition of Asia Business Report with me, Rico Hizon. | :00:44. | :00:49. | |
Tech darling Apple boasting 27% drop in net profit for the second quarter | :00:50. | :00:53. | |
which came in at just under $8 billion. Revenue also falling by | :00:54. | :01:00. | |
nearly 15% with a slump in earnings due to lower sales in iPhones, but | :01:01. | :01:04. | |
it wasn't as bad as the market feared. Our correspondent has the | :01:05. | :01:07. | |
details in New York. The iPhone, it is still Apple's peak Moneymaker, | :01:08. | :01:14. | |
accounting for two thirds of its revenue. Its importance to the | :01:15. | :01:19. | |
company's bottom line cannot be overstated and the company remains | :01:20. | :01:23. | |
the world's most profitable consumer electronics company by a substantial | :01:24. | :01:31. | |
market margin. In 2016, the headline for Apple has been the declining | :01:32. | :01:34. | |
popularity of its flagship product -- margin. But for all the sharp | :01:35. | :01:39. | |
declines, Apple's performance was still better than expected in the | :01:40. | :01:43. | |
last three months. And that, of course, was welcome news for | :01:44. | :01:46. | |
investors. So, the question is what happens now? Customers and investors | :01:47. | :01:50. | |
are looking forward to September when the iPhone seven is released. | :01:51. | :01:59. | |
Apple expects to sell between 45 and 47 million iPhones in the next | :02:00. | :02:03. | |
quarter. That is a sign that it really believes the decline in | :02:04. | :02:09. | |
iPhone sales will be reversed. And in after-hours trading in the US, | :02:10. | :02:16. | |
Apple shares up by 7%. Twitter has also been reporting earnings and the | :02:17. | :02:19. | |
microblogging site is seeing its slowest growth in quarterly revenue | :02:20. | :02:24. | |
since its share sale in 2013. The company is facing some tough | :02:25. | :02:28. | |
competition from other social media platforms, like Instagram and | :02:29. | :02:32. | |
SnapChat, but its number of monthly active users rose by 3%, and that is | :02:33. | :02:37. | |
an important gauge for advertisers. Earlier, I spoke with an analyst | :02:38. | :02:41. | |
from a technology market research company, and first asked if Twitter | :02:42. | :02:46. | |
needs to change its corporate strategy in light of the competitive | :02:47. | :02:50. | |
industry. Twitter is making some changes to the way it counts | :02:51. | :02:54. | |
characters and links with pictures and videos won't longer be added. | :02:55. | :03:01. | |
What it's doing with live streaming with partnerships with NFL, MBA, | :03:02. | :03:07. | |
showing democratic and republican debate on Twitter, live with feeds | :03:08. | :03:11. | |
and commentaries on the site, I think that is the step forward | :03:12. | :03:14. | |
Twitter is taking -- NBA. It is a strong step forward but we need to | :03:15. | :03:17. | |
see whether that is going to make revenue or generate advertising. So | :03:18. | :03:21. | |
do you think eventually with all of these challenges for Twitter, it | :03:22. | :03:24. | |
could be a takeover target? Yesterday we saw the search engine | :03:25. | :03:32. | |
of Yahoo being bought by Horizon. Could it be a takeover target? It | :03:33. | :03:37. | |
could as well be, if anything, the Microsoft linked acquisition, and we | :03:38. | :03:44. | |
have huge companies like Google looking for more and more revenue. | :03:45. | :03:48. | |
Twitter could be a very good target for Google, especially with chat | :03:49. | :03:50. | |
pots and artificial intelligence coming in and the huge Twitter | :03:51. | :03:55. | |
-based that Twitter has could serve as a key metric for acquisition -- | :03:56. | :04:01. | |
chat bots. India's government is still deciding who will be the next | :04:02. | :04:03. | |
head of the country's central bank when the current governor leaves | :04:04. | :04:11. | |
this September. Mr Rajan hinted he was hoping for a second term but | :04:12. | :04:16. | |
talks with government made him decide against it. So, should he | :04:17. | :04:23. | |
have been encouraged to state on? Our correspondent speaks with his | :04:24. | :04:27. | |
predecessor. The economy would have been better served had he continued | :04:28. | :04:30. | |
to see through the implementation of all the reforms and initiatives he | :04:31. | :04:38. | |
started and it's disappointing that he is going away at this point in | :04:39. | :04:41. | |
time -- stay on? There are many who now think that because Rajan was | :04:42. | :04:46. | |
very outspoken, sometimes he would criticise government policies, he | :04:47. | :04:50. | |
has also spoken on issues outside the monetary policy, that was also a | :04:51. | :04:53. | |
reason why the government wasn't keen to give him a second term. Do | :04:54. | :04:57. | |
you think that the reserve bank governor could stick just to the | :04:58. | :05:00. | |
monetary policy and he or she shouldn't be commenting outside | :05:01. | :05:04. | |
that? No, I don't believe in that point of view. Traditionally, | :05:05. | :05:12. | |
normally, governors have spoken to issues within the domain of the | :05:13. | :05:18. | |
central bank, but they have been -- there are being examples of this | :05:19. | :05:26. | |
occurring beyond the domain of the central bank, so I don't think there | :05:27. | :05:31. | |
should be any code of conduct on what they can do. The world is | :05:32. | :05:35. | |
running short on sugar and tighter supplies have driven prices at their | :05:36. | :05:39. | |
highest levels in almost four years. It started with a slow harvest in | :05:40. | :05:43. | |
Brazil but now India faces falling production as well. Our | :05:44. | :05:46. | |
correspondent has the details from Delhi. This is a business that | :05:47. | :05:56. | |
depends on sugar. This woman uses about 90 kilos of the sweet stuff | :05:57. | :05:59. | |
per month on whether it is in her cake mix or the icing. And as the | :06:00. | :06:05. | |
price of sugar has gone up, so too has costing. It is a rise that | :06:06. | :06:13. | |
customers might have eventually to swallow. No one wants to pay more in | :06:14. | :06:17. | |
the next month, if it drastically goes up, so we will have to do | :06:18. | :06:20. | |
something about the pricing. Because a huge increase in the sugar price | :06:21. | :06:24. | |
is definitely going to affect the business. While consumers don't want | :06:25. | :06:31. | |
to pay more for the sugar they eat, India's 15 million cane farmers want | :06:32. | :06:34. | |
to earn more for the sugar they grow. Two successive droughts in the | :06:35. | :06:42. | |
country's main sugar belt means production this year is likely to be | :06:43. | :06:45. | |
hit. To deter sugar mills from selling abroad and so keeping | :06:46. | :06:50. | |
domestic supply and prices stable, the government has introduced a tax | :06:51. | :06:59. | |
on exports. But they are confident they have enough stock to meet | :07:00. | :07:03. | |
demand. There is no shortage, I think that has been hiked up too | :07:04. | :07:08. | |
much to create a sense of a shortage that is not there. The issue is what | :07:09. | :07:13. | |
is the resting price? The balance of price between sugarcane and sugar, | :07:14. | :07:16. | |
that is the crux of the game, to keep the farmers getting paid and | :07:17. | :07:20. | |
for the industry to be viable to be able to pay the farmer. India is | :07:21. | :07:23. | |
trying to strike a fine balance, making sure that sugar is still | :07:24. | :07:27. | |
available to buy and that prices don't climb too high. Getting that | :07:28. | :07:31. | |
wrong could leave a bitter taste for many here in the world's the guest | :07:32. | :07:39. | |
sugar market. -- biggest. Indonesian capital Jakarta has a well earned | :07:40. | :07:42. | |
reputation for having some of the worst traffic in the world. Every | :07:43. | :07:45. | |
day, drivers can spend hours in a sea of red rake lights, as almost 4 | :07:46. | :07:53. | |
million private cars make their way through the city together with 14 | :07:54. | :07:57. | |
one half million motorcycles -- brake lights. Traffic is so | :07:58. | :08:00. | |
congested the average weekday speed is a mere six kilometres per hour. | :08:01. | :08:07. | |
Now, officials are trialling an odds and evens numberplate system to try | :08:08. | :08:11. | |
to limit the number of cars. Earlier I spoke to my college in Jakarta and | :08:12. | :08:16. | |
first asked her what it is like on the roads of the capital. Well, it | :08:17. | :08:23. | |
is very tough in the morning. We have to spend about 20 to 30 minutes | :08:24. | :08:28. | |
just to pass 500 metres in Jakarta's thoroughfares, so it means we see | :08:29. | :08:34. | |
difficulties for workers and companies. The workers who live in | :08:35. | :08:37. | |
rural areas have to spare at least two hours for their commute time, | :08:38. | :08:42. | |
and also for the companies, they need to arrange their way to deliver | :08:43. | :08:48. | |
goods or also arranging meetings. So, it really affects how we manage | :08:49. | :08:53. | |
lives. Thank goodness you were able to make it to Asia Business Report's | :08:54. | :08:58. | |
programme today! All right, tell us, with this odd and even traffic | :08:59. | :09:02. | |
policy, how much do they plan to reduce traffic? Well, the city | :09:03. | :09:09. | |
officials say it will reduce 20%- 30% of the numbers of vehicles that | :09:10. | :09:13. | |
are passing through the Jakarta thoroughfares every day, so it | :09:14. | :09:18. | |
means... Because every day there are 600,000 vehicles passing by the | :09:19. | :09:25. | |
roads every hour, it means it will save or reduce 120,000- 180,000 | :09:26. | :09:29. | |
vehicles per hour, so it means a lot, actually. , it is about | :09:30. | :09:33. | |
discipline for all the drivers out there in this odd- even plate system | :09:34. | :09:38. | |
- if they don't comply, what are the fines? Well, for now, because this | :09:39. | :09:45. | |
is a month-long trial, there will be no fine, but after it is implemented | :09:46. | :09:51. | |
by August 30, there will be, well, very minimal fine, actually, but | :09:52. | :09:54. | |
afterwards city officials say they are actually watching closely about | :09:55. | :10:00. | |
this policy, because they say that eventually they will take to find | :10:01. | :10:06. | |
very seriously, up to 500,000 rupees, which is only $50. Our BBC | :10:07. | :10:13. | |
correspondent in Jakarta. And before we go, a look at the markets | :10:14. | :10:18. | |
currently, and as you can see on the screens, on positive terms for the | :10:19. | :10:23. | |
Nikkei five, up 1.4%, and the all ordinaries index gaining 20 points, | :10:24. | :10:29. | |
and this despite a lacklustre day on Wall Street overnight. Thank you so | :10:30. | :10:32. | |
much for investing your time with us. IM Rico Hizon. Sport Today is up | :10:33. | :10:39. | |
next -- IM Rico Hizon. I'm Kasia Madera. The top stories this hour: | :10:40. | :10:42. | |
Hillary Clinton has become the first ever female presidential nominee for | :10:43. | :10:44. | |
a major party in a US election. Delegates at the Democratic Party | :10:45. | :10:46. | |
National Convention in the United States | :10:47. | :10:47. |