25/08/2016 Asia Business Report


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


perennial problem of tax avoidance amongst big companies isn't


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


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


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


Treasury and the European Commission or will the European Commission


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


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


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


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


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


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


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


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


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


Singapore exchange is edging closer to its planned acquisition of


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


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


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


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


takeover? It is an almost at unique position


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


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


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


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


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


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


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


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


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


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


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


marketplace is in need of better information, more accurate


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


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


people manage their asses more efficiently, especially in the face


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


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


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


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


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


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


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


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


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


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


getting to know the environment. They understand the environment at


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


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


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


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


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


they spending the money to protect themselves? It starts with


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


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


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


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


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


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


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


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


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


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


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


Summers from FireEye. Residents in Pyongyang are enjoying


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


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


market. General list lessons in early


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


Ordinaries. The major industries also finishing in negative


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


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


thought as many as 59 people have


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