25/08/2016 Asia Business Report


25/08/2016

Live from Singapore, the essential business news as it breaks and a look ahead to the news that will shape the business day.


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into difficulties while swimming. A sixth person has been reported

:00:00.:00:00.

missing. On BBC News, all the latest business news from Singapore.

:00:00.:00:14.

Apple Court in the middle of tax row between the and Europe. -- caught.

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We check out a festival promoting a local brew in North Korea.

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Good morning, Asia, hello world! It is on Thursday. Glad you could join

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us today for this addition of Asia Business Report. The challenging

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over its investigations of tax avoidance by US companies. Apple's

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arrangements could see the company hit with a massive bill for an pay

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taxes. In the on an Starbucks are also under investigation. Earlier, I

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spoke to a North American is a reporter. I asked him why the US is

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concerned. Companies from the US that set up their bases in Europe

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are being treated in an fairly. They say the investigations by the

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European Commission into the so-called sweet deal, there is an

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investigation whether those were against EU laws. In apple's case,

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they are being investigated as to whether they were getting a deal

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that wasn't perhaps offered to other countries. Against EU rules. That is

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what it is against. The US says there is a bias against these big US

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companies. What is the European Commission say about it all? They

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say there is no bias. They say they are trying to do is make sure this

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perennial problem of tax avoidance amongst big companies isn't

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happening. They are just try to make sure it is a level playing field

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across the entire European Union and indeed every company. What will

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happen next? Is there likely to be a middle ground between the US

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Treasury and the European Commission or will the European Commission

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stand its ground? The key indicator of whether it will stand its ground

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is whether the investigation concludes. We are expecting Apple's

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fairly soon. If it punishes them then it suggests the European

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commission is astounding that ground. -- is standing their ground.

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Shares for HP are lower. The company's revenue is falling in its

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third-quarter numbers. Revenue from its from its computer business was

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flat. It was below analysts's estimates. They have slashed about

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2300 jobs this year. There has been a new target set. The attempt to

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improve the company's balance it comes as it recorded a drop.

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Singapore exchange is edging closer to its planned acquisition of

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London's Baltic exchange. After months of negotiations, the deal is

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valued at 100 million US dollars but it still needs approval from Baltic

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shareholders next month. We caught up with a man heading the talks for

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Singapore exchange and asked him how will the exchange and a set from the

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takeover? It is an almost at unique position

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of authority. The price of shipping something from point a to point B.

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It has a very unique global position in that it is the trusted authority

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in publishing these numbers every day. Secondly, it has a very special

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track record in being able to forge global consensus will stop what we

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want to do is offer people the chance to take action on these

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numbers. --. . Meaning to make these numbers actionable. From 2008 to

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2016, freight rates have been one of the most volatile things. Looking

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back, in hindsight, if more people had a veiled themselves of the

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option to hedge freight rates, a lot of the global and shipping market

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would be in better shape. With global shipping in decline, why buy?

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Many booms and busts have comes. Its relevance is more acute when the

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marketplace is in need of better information, more accurate

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information, to work the assets harder. The thing that you as the

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prices is a period of low prices. During that period, what happens is

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people manage their asses more efficiently, especially in the face

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of increasing regulation, pollution, safety, strength. Things like that.

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Has any of this change because of accident? The underlying rationale

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hasn't changed because it shipping is global. The people that operate

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out of London were operating a long time before the EU existed.

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I've 100 and 20 days, almost 1.5 years, that is how long it takes a

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shirt companies to discover a data breach in their systems. That

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compares to the worldwide average of 146 days. How can they improve their

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response time? I spoke to FireEye. Is remarkable especially to see how

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it compares to the rest of the world. What kind of data breaches

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can they do over 17 months question mark they spend a lot of time

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getting to know the environment. They understand the environment at

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the victim and it gives them the time to steal the crown Jews in a

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stealth way. Which are most susceptible? -- crown jewels. We

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have worked a lot of breaches a cross high-tech, retail and

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education. Almost every sector. Is not just the small and medium

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companies but also the big companies and major governments. Why aren't

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they spending the money to protect themselves? It starts with

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awareness. It goes back to breach notification. In the US, for the

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better part of the decade, we have had good breach notification law.

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They have got to tell the public, they have to tell the public. We

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don't have these laws in South East Asia. Basically, the consumers can

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just sue? It can take years of good investment to catch up. Tell us, who

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are the people behind these data breaches? Are they individuals,

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organisations, or are they even state-sponsored? We see a locked,

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all of the above. --A lot. We used to see a lot of Chinese

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state-sponsored attacks directed at the United States and Europe. In

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November, the US and China came to an agreement. When we saw the treaty

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go into effect, we the balance of targeting really shift. Grady

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Summers from FireEye. Residents in Pyongyang are enjoying

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a pipe or two in the beer festival. Let's take a look.

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enjoyed a beer in North Korea. Before we go, quick look at the

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market. General list lessons in early

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trading. -- listlessness. Is in negative territory, the All

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Ordinaries. The major industries also finishing in negative

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territory. The Dow Jones in the red. I I'm Rico Hizon. Sport Today is

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coming up next. The top stories is our. It is

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thought as many as 59 people have

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