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Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:13. | |
As US President-elect Donald Trump prepares to take the helm we find | :00:14. | :00:19. | |
out what businesses in Asia are expecting. From the air to do some | :00:20. | :00:28. | |
fun empire is granted a -- the edge of the Samsung empire is granted a | :00:29. | :00:32. | |
reprieve for his role in the countries of scandal. Good morning | :00:33. | :00:37. | |
and welcome to Asia Business Report live from Singapore. With just two | :00:38. | :00:44. | |
days left until Donald Trump is sworn in as the 45th president of | :00:45. | :00:48. | |
the United States and dad deeply divisive figure means that many are | :00:49. | :00:54. | |
now looking at his cabinet picks resident bodies policies will be. | :00:55. | :01:01. | |
Earlier a billionaire investor said their top priority is to re- | :01:02. | :01:06. | |
negotiate another the trade deal with Canada and Mexico. The | :01:07. | :01:09. | |
President-elect has made no secret in his public remarks, nor have I in | :01:10. | :01:16. | |
earlier remarks during the campaign that NAFTA is logically the first | :01:17. | :01:22. | |
thing for us to deal with. We are to solidify relationships in the best | :01:23. | :01:26. | |
way we can in our own Territorian or four we go off to other | :01:27. | :01:34. | |
jurisdictions. So I think that should be, and hopefully will be if | :01:35. | :01:39. | |
I am confirmed, a very early topic in this administration. That for | :01:40. | :01:52. | |
many business leaders that a presidency heralds a new era of | :01:53. | :01:55. | |
uncertainty. And despite him being the author of the art of the deal | :01:56. | :02:01. | |
many believe that the global mergers may be harder to come by. Earlier I | :02:02. | :02:07. | |
spoke to a representative of Price Waterhouse Cooper. We have a few | :02:08. | :02:12. | |
years of very good singing, liquidity in the market and | :02:13. | :02:18. | |
political in a comic -- economic certainty. Now we are seeing some | :02:19. | :02:23. | |
political change. Brexit and indeed as we go into a new president period | :02:24. | :02:29. | |
there is a degree of uncertainty. Having said that, the Trump policy | :02:30. | :02:33. | |
as stated so far appear to be friendly to deals. The regulation, | :02:34. | :02:37. | |
tax reduction and stimulus and investment in energy and | :02:38. | :02:40. | |
infrastructure and other areas. But in speaking to investors that we | :02:41. | :02:45. | |
expect there to be hesitancy and pause. I think there is a great | :02:46. | :02:52. | |
belief, and we have that as well, it in the US. It will be a pause rather | :02:53. | :02:57. | |
than an impact and we will see a big return to buoyancy and investment | :02:58. | :03:01. | |
levels. We have heard from some businesses voicing concerns but | :03:02. | :03:05. | |
could this be an opportunity for some Asian countries? No doubt. | :03:06. | :03:08. | |
Certainly by reference to investment in areas where we expect stimulus | :03:09. | :03:14. | |
from the UK or the US economy. And then if you look to where the money | :03:15. | :03:18. | |
may flow, this is where the investment in Asia will come | :03:19. | :03:22. | |
through. In India, Japan, Singapore, over the last six weeks you feel a | :03:23. | :03:28. | |
audience in terms of opportunity there. For different reasons- stable | :03:29. | :03:32. | |
politics in India, an aggressive look at portfolios in Japan and an | :03:33. | :03:37. | |
opportunity for private equity across the region to get more | :03:38. | :03:42. | |
involved. We think we will see an uptake in investment across the | :03:43. | :03:45. | |
Asian region, probably with one caution- outbound investment from | :03:46. | :03:51. | |
China may slow but otherwise it is very positive about the Asian | :03:52. | :03:56. | |
market. Staying with the United States Janet Yellin says that the US | :03:57. | :04:00. | |
economy is healthy enough for the central bank to raise its benchmark | :04:01. | :04:05. | |
interest rates a quote, a few times a year through 2019. During a speech | :04:06. | :04:10. | |
on Wednesday she said the exact timing of interest rate hikes will | :04:11. | :04:15. | |
depend on how the economy is doing. She said that policymakers are | :04:16. | :04:19. | |
getting closer to their goals of full employment and stable | :04:20. | :04:21. | |
inflation. The head of the International Monetary Fund said | :04:22. | :04:28. | |
that despite the UK economy doing better than expected after last | :04:29. | :04:31. | |
year's decision to leave the European Union it will still suffer | :04:32. | :04:36. | |
from the split. Her comments come after the Prime Minister Theresa May | :04:37. | :04:39. | |
laid out her negotiating terms with the EU. In her comments, the IMF | :04:40. | :04:48. | |
said that any deal with the EU will not be as good as membership. When | :04:49. | :04:53. | |
you belong to a club, whatever that club is beat sport or intellectual | :04:54. | :04:57. | |
or whatever, the members of the club have a degree of affinity and terms | :04:58. | :05:03. | |
under which they operate. Somebody outside the club, sport or | :05:04. | :05:06. | |
intellectual or whatever, have different access. Meanwhile the | :05:07. | :05:12. | |
Foreign Secretary Boris Jenson is warning the European Union not to | :05:13. | :05:15. | |
punish Britain for its decision to leave the economic bloc. He made the | :05:16. | :05:18. | |
controversial comment while on a trip to India. If Mr alarmed that | :05:19. | :05:25. | |
wants to issue punishment beatings to anyone who chooses to escape in | :05:26. | :05:30. | |
the manner of some World War Two movie is and I think, I do not think | :05:31. | :05:35. | |
that is the way forward. It is not actually in the interest of our | :05:36. | :05:43. | |
friends and our partners. A South Korean court has rejected an arrest | :05:44. | :05:50. | |
warrant for Jay Y Lee. Prosecutors have accused him of bribery, | :05:51. | :05:52. | |
embezzlement and perjury in connection to a scandal which led to | :05:53. | :05:56. | |
the impeachment of the country's president. Samsun has denied any | :05:57. | :06:02. | |
wrongdoing. Earlier I asked if people were surprised by the | :06:03. | :06:06. | |
verdict. The public had been divided about what might happen. For most | :06:07. | :06:13. | |
part I think there would be enormous relief from the part of Samsun. The | :06:14. | :06:19. | |
last 24 hours have been one of the longest days for Jay Y Lee. At the | :06:20. | :06:25. | |
city jail the head of South Korea's biggest company was asked to wait | :06:26. | :06:29. | |
throughout the night until the court came to a decision about his arrest. | :06:30. | :06:34. | |
Early in the morning the judge said there was a lack in justification to | :06:35. | :06:41. | |
put Mr leave behind bars and ordered his release. Just before day lay he | :06:42. | :06:48. | |
was seen walking out of jail was a slight smile. -- just before | :06:49. | :06:53. | |
daybreak. Lacking justification. Could that be because of the | :06:54. | :06:58. | |
possible impact on Samsun's reputation and performance which, of | :06:59. | :07:02. | |
course, plays a huge part in the economy of South Korea? This may not | :07:03. | :07:07. | |
be the end of problems for the chief of Samsun. The company has been | :07:08. | :07:12. | |
accused of bribery and he may still need to face a trial if prosecutors | :07:13. | :07:18. | |
decide to press charges. The allegation is that Samsun gave | :07:19. | :07:21. | |
millions of dollars in return for the votes of the national pension | :07:22. | :07:24. | |
fund in a big and contested restructuring of the company. In the | :07:25. | :07:30. | |
meantime, Mr these days as a free man. So can prosecutors continue | :07:31. | :07:36. | |
pursuing him? Samsung has continuously denied the bribery | :07:37. | :07:41. | |
charges and the position is that contributions have been made but was | :07:42. | :07:47. | |
not in order to receive favours. Bribery is not an easy crime to | :07:48. | :07:55. | |
prove under Korean law. Neither is putting rich family members of | :07:56. | :07:58. | |
conglomerates into jail for wrongdoing. Despite criminal charges | :07:59. | :08:04. | |
and convictions, no family member of Samsun has ever served jail term. -- | :08:05. | :08:13. | |
Samsun. Shares opened higher than 2% in May continue to trade strongly. | :08:14. | :08:18. | |
Shares in Netflix jumped over 8% in US training -- trading it to make | :08:19. | :08:25. | |
meeting a new high. The media streaming service has been producing | :08:26. | :08:31. | |
more original shows and focusing on expanding globally. That is held | :08:32. | :08:34. | |
Netflix sign up a record 7 million new subscribers. The majority of | :08:35. | :08:40. | |
them from outside the United States. Goldman Sachs still has the golden | :08:41. | :08:46. | |
touch. The investment bank saw profits triple in the fourth | :08:47. | :08:52. | |
quarter. Its trading activity got a major boost after Trump's election | :08:53. | :09:00. | |
spurred a stock market rally. Manchester United has overtaken | :09:01. | :09:04. | |
reality that to become the richest football team in Europe. The last | :09:05. | :09:08. | |
time they held the title was over a decade ago. According to a | :09:09. | :09:11. | |
consultancy in Manchester United raked in over $700 million last | :09:12. | :09:19. | |
season. Now here is a story for all of you train fans. After over two | :09:20. | :09:25. | |
weeks crossing two continents the first-ever for a train travelling | :09:26. | :09:28. | |
direct from China to the UK has arrived in London. It is part of | :09:29. | :09:33. | |
China's drive to develop trade and investment ties with Europe. London | :09:34. | :09:42. | |
is the 15th European city to join what the Chinese government referred | :09:43. | :09:43. | |
to as the new silk Route. Lets show you the pictures of the | :09:44. | :10:24. | |
train pulling into the station just outside London. The train trip takes | :10:25. | :10:27. | |
about half the time of a sea journey. | :10:28. | :10:36. | |
You are watching BBC News. The headlines for you this our-at his | :10:37. | :10:42. | |
final news conference President Obama said he will continue to speak | :10:43. | :10:47. | |
out to defend what he called core values are after he leaves | :10:48. | :10:48. |