:00:00. > :00:00.Monday as 34 U Ricardo Hunter from south London. He died from a single
:00:00. > :00:00.bullet wound to the chest and a man has been arrested on suspicion of
:00:00. > :00:21.murder. Japan's deke cash splash, but will
:00:22. > :00:28.it kickstart the country's economy? And, be like for Facebook, as
:00:29. > :00:36.profits nearly tripled and share prices soared.
:00:37. > :00:43.Good morning and welcome to Asia Business Report. We start with
:00:44. > :00:47.markets, and Japan's Nikkei started trading half-an-hour ago and opened
:00:48. > :00:52.lower. That is after getting a boost on Wednesday due to the announcement
:00:53. > :00:55.by the Japanese Prime Minister, Shinzo Abe, who has said his
:00:56. > :01:01.government will announce a huge spending spree worth more than $265
:01:02. > :01:06.billion. The size of it is much bigger than expected, and the
:01:07. > :01:09.Japanese yen has initially weakened after the announcement, but now it
:01:10. > :01:14.seems to be strengthening against the US dollar, and that is partly
:01:15. > :01:18.why the Nikkei is trading lower. Now, all eyes are on the country's
:01:19. > :01:25.central bank, which is holding a policy meeting today and tomorrow,
:01:26. > :01:36.if they announce further stimulus at the meeting tomorrow. But will this
:01:37. > :01:40.massive stimulus help the economy? We still don't know when he will
:01:41. > :01:45.spend that amount of money and how he will finance it, and then I don't
:01:46. > :01:51.think the Japanese government is actually able to increase spending,
:01:52. > :01:56.because the Prime Minister also has another goal, to balance the budget
:01:57. > :02:04.by 2020. In order to do that in the next few years he will have to cut
:02:05. > :02:10.spending by as much as Y20 trillion. I think this is a vast li inflated
:02:11. > :02:13.figure. What will be the actual figure we are talking about, and
:02:14. > :02:23.where will that money be coming from if the money is not to be spent? In
:02:24. > :02:25.the next six months the Japanese government will compile a
:02:26. > :02:31.supplementary budget for this fiscal year. I would expect that at most
:02:32. > :02:37.say 20 billion economic stimulus to be in the budget. Shinzo Abe has
:02:38. > :02:42.tried a similar approach several years ago, but the impact didn't
:02:43. > :02:49.really last for a long time. In your phew, what is actually needed to
:02:50. > :02:57.jumpstart the economy? Write, well, if you do want to jumpstart the
:02:58. > :03:01.economy, for say a year, I think spending a big amount of money,
:03:02. > :03:08.public work, building roads and bridges, it helps to inflate the
:03:09. > :03:12.economy for one year. But that is what happened in 2013, and I do
:03:13. > :03:16.believe the Japanese authorities, the government and the bank of
:03:17. > :03:23.Japan, have to think in more long-term sustainable growth. In
:03:24. > :03:24.other business news making headlines, Samsung has posted a
:03:25. > :03:33.better-than-expected second-quarter profit. They are up 18% compared to
:03:34. > :03:37.a year ago. It is the firm's best result in more than two years and
:03:38. > :03:44.was fuelled by a pickup in smartphone sales, with profits in
:03:45. > :03:47.its mobile division jumping 57%. India has passed a controversial new
:03:48. > :03:50.child labour law which allows children to work in family
:03:51. > :03:54.businesses. Rights groups have criticised the move, saying it could
:03:55. > :03:59.push more children into work and out of school. Official figures show
:04:00. > :04:03.India has more than 12 million child workers, but some estimates say the
:04:04. > :04:08.figure could be as high as 60 million. The US Federal Reserve has
:04:09. > :04:12.left interest rates unchanged but held open the possibility of a
:04:13. > :04:18.second rise later this year. The last hope was in December. The Fed
:04:19. > :04:21.said that near-term risks in the US economy had diminished and there had
:04:22. > :04:31.been a pickup in the jobs market recovery. Some have said the
:04:32. > :04:35.brighter outlook suggests the impact of Britain's decision to leave the
:04:36. > :04:44.EU. In the past 24 hours we found out that the British economy
:04:45. > :04:45.performed better than expected. How much can we deduce from these
:04:46. > :04:51.figures? Better figures than expected today,
:04:52. > :04:54.and an announcement by London City Airport
:04:55. > :04:56.that it was expanding. For the Chancellor, Philip Hammond,
:04:57. > :04:59.not exactly blue skies ahead, The UK economy is fundamentally
:05:00. > :05:03.strong as we go into the challenge That gives us the tools
:05:04. > :05:09.and the scope to respond And do you really think,
:05:10. > :05:19.as some suggested, that we could be Well, I think it's far too early
:05:20. > :05:24.to say how the economy Inevitably, people's reaction
:05:25. > :05:35.to a surprise is caution. No such caution today
:05:36. > :05:36.from pharmaceutical giant GlaxoSmithKline, which announced
:05:37. > :05:38.a ?275 million investment But the maker of Night Nurse
:05:39. > :05:42.and Panadol did lace its good news This was a company, after all,
:05:43. > :05:46.that was a firm supporter My guess is that we're probably
:05:47. > :05:50.going to see some choppy signals I don't think we'll see a dramatic
:05:51. > :05:56.shift to the left or the right. But we will see some choppiness,
:05:57. > :05:58.we will see some things which are indicative
:05:59. > :06:00.of a bit of a slowdown, and it's likely we will see some
:06:01. > :06:03.signals of early inflation. With business investment
:06:04. > :06:05.still continuing, like here at London City Airport,
:06:06. > :06:07.some people might wonder, what was all the fuss
:06:08. > :06:09.about with the economy I think there are two big
:06:10. > :06:15.things worth considering. Firstly, we are still largely
:06:16. > :06:18.looking in the rear-view mirror. Most of the economic information
:06:19. > :06:20.published today is actually from April, when business
:06:21. > :06:22.confidence was far higher. And many senior economists I've
:06:23. > :06:25.spoken to who are very close to the Government warn
:06:26. > :06:27.against a false sense of security. Britain is still facing
:06:28. > :06:28.uncertain times. Uncertainty has been an issue
:06:29. > :06:40.for this leather company in Oxford, to the Government warn
:06:41. > :06:42.against a false sense of security. Britain is still facing
:06:43. > :06:44.uncertain times. Uncertainty has been an issue
:06:45. > :06:47.for this leather company in Oxford, which has found the post-Brexit
:06:48. > :06:52.world a more difficult proposition. Next week the Governor of the Bank
:06:53. > :06:57.of England will announce his latest The bank may even agree to cut
:06:58. > :07:01.interest rates to boost growth, a move that will only come
:07:02. > :07:08.if the economic news has indeed The world's biggest social network
:07:09. > :07:10.seems to get bigger and bigger. Facebook shares have jumped on news
:07:11. > :07:14.that the number of people using the site is growing, and it is
:07:15. > :07:17.attracting more advertising. In the three months to the end of June,
:07:18. > :07:24.Facebook made profits of more than $2 billion. That was an increase of
:07:25. > :07:30.186% on the same period last year. Since then it has also signed up 220
:07:31. > :07:36.million new monthly users, taking the total number of users to more
:07:37. > :07:43.than 1.7 billion people, and that has driven the share price even
:07:44. > :07:48.higher. That has given it a stock market value of $350 billion.
:07:49. > :07:55.Facebook makes its money from ads, lots of them, it turns out. Here is
:07:56. > :07:59.the appeal. Close to one seventh of the human race looks at Facebook on
:08:00. > :08:03.their final tablet everyday. But it is not enough just to have eyeballs.
:08:04. > :08:08.Facebook is not just good at getting more of us to use its services, it
:08:09. > :08:19.has also shown an making money off our social media habits, whether
:08:20. > :08:23.that is using messenger, or other applications. It is also pushing
:08:24. > :08:27.into mobile video, where it faces competition from the likes of
:08:28. > :08:34.Snapchat and YouTube. We have seen big brands having fun with Facebook
:08:35. > :08:37.live broadcasts, with I hop live streaming pancakes on a beach. I'm
:08:38. > :08:42.not sure why. But it speaks to Facebook success, at attracting new
:08:43. > :08:45.advertisers and encouraging existing ones to spend more. Along with
:08:46. > :08:51.Google, Facebook has benefited hugely from advertisers should the
:08:52. > :08:56.money from TV to the internet. As one analyst put it, the social
:08:57. > :09:00.network is running away with the mobile advertising market. At this
:09:01. > :09:07.point it is hard to see how rivals can catch up. If you have ever
:09:08. > :09:12.doubted the power of social media, there is one charity campaign that
:09:13. > :09:16.has arguably made a difference. You may remember the ice bucket
:09:17. > :09:20.challenge back in 2014, which proved to be a mobile market's dream,
:09:21. > :09:21.raising millions, and even bankrolling the scientific
:09:22. > :09:29.breakthrough. I do not think it is presidential
:09:30. > :09:38.for me to be splashed with icewater, so I'm simply going to write you a
:09:39. > :09:42.cheque. It was a simple concept, pour a bucket of iced water
:09:43. > :09:47.Radiohead, nominate others to do the same, raise money for motor neurone
:09:48. > :09:50.disease. It was the brainchild of Peter freights and his friend Pat
:09:51. > :10:03.Quinn, both diagnosed with the condition. Critics called it
:10:04. > :10:07.selective ism, particularly when celebrities jumped on the bandwagon.
:10:08. > :10:11.But it raised $150 million, and now we know where the money has gone and
:10:12. > :10:15.what it has done. Six research projects were funded by the stunt,
:10:16. > :10:21.and scientists say that research is help them identify in Eugene that
:10:22. > :10:30.contributes to the disease. Called Emenike one, the genes is only links
:10:31. > :10:35.to a small number of inherited cases -- NEK1. But scientists say it could
:10:36. > :10:41.lead to new treatments. That is it for this edition of Asia
:10:42. > :10:42.Business Report. Sport Today is coming up