03/10/2016 Asia Business Report


03/10/2016

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As the Deutsche Bank executives had to Washington, can Germany's biggest

:00:15.:00:20.

bank reach agreement with US authorities? And packing their bags

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for a week-long break, find out where Chinese too -- tourist will

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spend their money this golden week holiday. Good morning, welcome to

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Asia Business Report from Singapore. The future of Germany's biggest bank

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is stirring up markets around the world. Deutsche Bank has been told

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to pay a whopping $14 billion fine by the US for alleged wrongdoing

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leading up to the financial crisis in 2008 but now it might be close to

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agreeing a settlement with the authorities and would like to do so

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before next month's presidential election. Earlier I spoke with Tony

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Nash and asked about the likelihood of a deal being reached this week.

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They will certainly try. Nobody wants to put Deutsche bank in danger

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but in fact they did break serious guidelines. The real issue with

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Deutsche bank is this, a $14 billion ruling right now has to be

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negotiated down. If anything is more than $4 billion, given the cash that

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Deutsche Bank has set aside, they have to raise funds. That will be

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diverted to the current shareholders. The big question

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investors have been posing was whether the German government might

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step in to bail them out. Do you think that is a possibility? I think

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it is a possibility but I think given the hard line that the German

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government has had about other banking difficulties in other

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countries within the EU, it would be politically difficult to step in.

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There has been some gossip about the German government taking a 20% stake

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in Deutsche Bank but whether or not it is true we are not sure. We saw

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an impact on the market in the US and Europe. We haven't seen much of

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an impact just yet in Asian markets but could this be a moment when

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Asian shares are affected as well? I don't necessarily think so. What

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Deutsche Bank has done is, I saw this morning, and mounting a

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thousand headcount cut. They have 101,000 staff. Deutsche Bank will

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have to look much harder at staffing and cut much harder in order to save

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costs. Revenues have been very hard one and very difficult over the last

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few years for Deutsche Bank but their cost base hasn't been cut

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back. So they have a really difficult time and they have to add

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value their costs. This makes a big statement about the state of first

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of all European banking and secondly global banking. With repeated

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government intervention to save banks it makes a much bigger

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statement, whether talking about debt in China, Italy, Deutsche Bank

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or even American banking issues. The state of banking globally needs a

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closer look. It is Golden Week in China which means hundreds of

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millions of people have packed their bags and taken off to various

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vacation spots. Let's take out where they are heading and how some

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countries are making Chinese tourists feel welcome.

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Well, earlier I spoke with Nelson Allen from hotels.com Asia-Pacific

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and I asked him the other popular destination for Chinese tourists. A

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lot of going to Japan this week and it is a little different in years

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past. I think Tokyo and Osaka are still growing but not as much as

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second and third tier cities, like Okinawa and elsewhere, doubling the

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orders that we saw last year. They are still travelling to Japan but

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they are looking for new experiences and they want to go to places they

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have never been before. Have there been destinations that have

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surprised you that they have decided to go to? On a survey we do, the

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Chinese Travel Monitor, asking whether you want to go, and they

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have said the pyramids of Giza in Egypt or Mount Fuji in Japan, the

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Himalayas in Nepal, these are bold places to go. On are the days of the

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Eiffel Tower and Big Ben. We are impressed by how audacious some of

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the plans are at it plays out in the booking data. In other news making

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headlines this morning, electric car maker Tesla saw global deliveries of

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its cars double in the third quarter had with one year ago. In the three

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months to September they delivered 24,500 cars, the majority was the

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model S. The latest figures are in courage in for the Californian firm

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which suffered a bigger than expected loss in the second quarter.

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India has formally joined the Paris agreement on tackling climate

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change, agreed by nearly 200 countries in Paris last year with

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the aim to slash greenhouse gas emissions by moving away from. Feels

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to limit global warming. -- moving away from fossil fuels to limit

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global warming. This represents at least 55% of global carbon dioxide

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emissions. The US and China joined last month, India is the world's

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third biggest emitter of greenhouse gases. Now, most of you would

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recognise India's Bollywood megastar Bachchan. Now he is starring in

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films exploring social issues that affect Indians. His latest film

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touches on feminism and attitudes towards women in India. We spoke

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with the actor and asked him whether the gender pay gap exists in the

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film industry. I have encountered that before. There was a woman who

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was paid more than me. She was the star. And that is OK. I am OK with

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that. It is not just women working in films. It is in the sports world,

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it is in the corporate world. I think things are changing. At least

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people are talking about it. Maybe in the years to come there will be

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some kind of an alteration. With the emergence of things like Netflix,

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you are seeing movies watched online. Do you think we are going to

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reach a stage in India where movies will maybe perhaps be released

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online, will be consumed widely on the Internet? Yes, some of these

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efforts were made earlier on. Maybe audiences were not prepared for it,

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so they didn't do as well as they should have. Eventually, yes, I

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think this is what is going to happen. The mobile is your closest

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companion these days. Your information, connection, everything.

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Entertainment, everything is on the mobile. So, yes. That will be a

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challenge for all content makers. Whatever is happening in the western

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world or other parts of the universe is instantly known to us and seen by

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us. We have to compete with them. And that is wonderful. It is very

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challenging. How to make films important and good enough to be able

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to pull you off the drawing room and the TV set and on to the cinema

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screen. What is the most exciting thing for you working in this day

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and age in movies compared to say when you were working in the 70s or

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the 80s? The opening up of the economy in India. We have access to

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the most modern gadgetry that is coming out from the west. Celluloid

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has been removed entirely. I don't know whether we can call it the film

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industry because what do you call it? The digital industry? Are now

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digital. -- all cameras are now digital. Film was the most expensive

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element in the films that we made. And to preserve that, we have to

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make sure that you didn't do more than a single take, or the very best

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two, that kind of made you apprehensive about wanting to

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improve or get another chance to do another take. Let's show you the

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markets before we go because today is the first day of the last quarter

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of 2016 and Asian shares started cautiously firm with the Japanese

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Nikkei up 1%. And China is closed for a public holiday. As we were

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talking about earlier, which is likely to continue dominating market

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sentiment on Friday and the US market rallied with a positive

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settlement with US authorities. That is it for Asia Business Report.

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Thank you for watching. You are watching BBC News. Theresa May says

:10:37.:10:42.

she will trigger Article 50, the process of leaving the EU, before

:10:43.:10:47.

the end of March next year, and it will untangles

:10:48.:10:50.

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