:00:10. > :00:14.The Defence Secretary, Michael Fallon, has refused to tell
:00:15. > :00:16.parliament whether an unarmed Trident missile misfired off
:00:17. > :00:20.He said the test had been successful and safety wasn't compromised.
:00:21. > :00:22.Labour MPs have accused ministers of a cover-up.
:00:23. > :00:34.Now on BBC News all the latest business news live from Singapore.
:00:35. > :00:42.It is official. US President Donald Trump tears up the Trans-Pacific
:00:43. > :00:48.Partnership deal and looks to renegotiate Nafta next. We just
:00:49. > :00:49.officially terminated the Trans-Pacific Partnership.
:00:50. > :00:54.APPLAUSE . Samsung, a scandal and a
:00:55. > :01:06.corruption row. Good morning, Asia. Hello, world.
:01:07. > :01:13.Thank you for investing your time in Asia Business Report. I'm Rico
:01:14. > :01:19.Hizon. It's a Tuesday. We start off with US President Donald Trump. He
:01:20. > :01:23.has formally pulled the US out of the Trans-Pacific Partnership, a
:01:24. > :01:29.major trade negotiation between 12 countries. It is part of his
:01:30. > :01:35.campaign pledge of America first, safeguarding Emre Can jobs and
:01:36. > :01:40.manufacturing. That is a message he told world leaders. We have more on
:01:41. > :01:52.what he called the captains of industry. Thank you very much,
:01:53. > :01:56.everybody. Donald Trump assembled a who's who of the corporate world
:01:57. > :02:02.around the table were the bosses of more than ten multinationals in
:02:03. > :02:11.America, including these on your screen, were also there. And also,
:02:12. > :02:17.Mark Fields, the Chief Executive of Ford, which recently cancelled plans
:02:18. > :02:21.for a 1.6 billion dollar plant in Mexico which Donald Trump criticised
:02:22. > :02:25.for sending jobs abroad. And he repeated his threat to any company
:02:26. > :02:29.thinking of moving production away from the United States. A company
:02:30. > :02:36.that wants to fire all of its people in the US and build some factories
:02:37. > :02:39.someplace else and then thinks that product will just flow across the
:02:40. > :02:44.border into the United States, that is not going to happen. You are
:02:45. > :02:50.going to have to pay a substantial border tax. And his reward for
:02:51. > :02:55.companies staying in the United States, to cut red tape. We think we
:02:56. > :03:00.can cut regulations by 75%, maybe more. And turning campaign rhetoric
:03:01. > :03:05.into action, Donald Trump signed an executive order, withdrawing the US
:03:06. > :03:12.from the Trans-Pacific Partnership, a trade deal with Asia which he had
:03:13. > :03:16.called harmful to American workers. Thank you very much. That report
:03:17. > :03:22.from Michelle Fleury in New York. Some countries involved in the
:03:23. > :03:28.Trans-Pacific Partnership such as New Zealand are vowing to push
:03:29. > :03:32.ahead. The Japanese are still trying to convince the Americans of its
:03:33. > :03:35.significant. But rising protectionism in the US is something
:03:36. > :03:39.people are going to have to get used to according to person. Is this the
:03:40. > :03:45.direct impact through those companies with large export volumes
:03:46. > :03:50.to the US? There is the impact of his policies, inflationary, that
:03:51. > :03:53.will lead to a strong US dollar and rate hikes potentially. That has not
:03:54. > :03:59.been a great environment for emerging markets in Asia. Any
:04:00. > :04:06.particular industries that could be impacted more compared to others?
:04:07. > :04:11.The industries that have full operations outside the US will be
:04:12. > :04:15.more impacted than those inside. Korean car makers for example
:04:16. > :04:18.already produce lots of their product within the US and some
:04:19. > :04:31.within Korea. For those companies, the impact will be less. Jonathan
:04:32. > :04:35.Goodchild. Sand Samsung have jumped in their profit thanks to chip
:04:36. > :04:43.making and panel display businesses. These outweigh the problems it had
:04:44. > :04:47.with its exploding smartphones. The cause was apparently due to bad
:04:48. > :04:53.batteries. They have other issues to worry about, including a probe
:04:54. > :04:59.involving the president of Korea. We sum up the problems. Samsung has
:05:00. > :05:05.probably faced the perfect storm conditions over the last few months.
:05:06. > :05:12.The battery challenge, the, umm comedy, umm, scandal with the with
:05:13. > :05:18.the president which has cascaded onto them. And linked to that is the
:05:19. > :05:22.whole issue from last year with the international pension service voting
:05:23. > :05:28.in favour of a merger that had been challenged why are they invest.
:05:29. > :05:33.Riechedly, could we see an organisational restructuring with
:05:34. > :05:38.Samsung? On one hand, their stock is performing remarkably well. They
:05:39. > :05:45.make continual organisation changes. The leadership, of course, is still
:05:46. > :05:49.in flux, with the old guard, you know, in a challenging position in
:05:50. > :05:54.hospital, the young guard wanting to take over. Given the risks around,
:05:55. > :05:58.they will want multiple ways of leading big companies that it is not
:05:59. > :06:07.dependent upon any person. James in Hong Kong. Yahoo posted a 60% rise
:06:08. > :06:11.to $1.5 billion for its fourth quarter compared to the previous
:06:12. > :06:19.year. Ones mighty technology giant is being investigated over two
:06:20. > :06:23.massive cyber bridges. They are in the process of being bought by
:06:24. > :06:27.Verizon for nearly $5 billion. But they said today that the deal is
:06:28. > :06:32.being delayed until the second quarter of this year. I spoke
:06:33. > :06:38.earlier about what this means for the Internet icon. If revenue
:06:39. > :06:42.continues like that, most people are not paying attention to it. It is
:06:43. > :06:47.long gone. People are looking for the news with the Verizon deal. We
:06:48. > :06:54.know now that although originally they planned to close that deal to
:06:55. > :06:59.Verizon by the fourth quarter it will now be pushed back to the
:07:00. > :07:05.second quarter. Slightly longer than thought. That could be because of
:07:06. > :07:14.the investigations opened into this. The FCC in the US is investigating
:07:15. > :07:19.whether breaches of Yahoo in 2013 and 14 should have been closed
:07:20. > :07:23.sooner. Those investigations have started and it may be the reason for
:07:24. > :07:32.the pushback. That was in San Francisco. Fourth-quarter revenues
:07:33. > :07:39.for McDonald's fell in the 5% to just over 6 billion US dollars. The
:07:40. > :07:46.world's largest restaurant chain recently sold off its Chinese
:07:47. > :07:52.operations and is looking to offload this stake. Renowned over the world
:07:53. > :07:56.for cuisine, but keeping customers at home and happy has not been easy.
:07:57. > :07:59.Restaurant owners serving traditional Indian food has been
:08:00. > :08:07.struggling to attract young customers in particular. Some are
:08:08. > :08:18.trying more interesting experiences. Is that working? We went to have a
:08:19. > :08:24.taste. COOKING NOISES. It is not about curries and kebabs any more.
:08:25. > :08:31.Indian food is getting a makeover. This is a deep-fried fritter soaked
:08:32. > :08:40.in sticky sugar syrup. It is a popular Indian treat found on most
:08:41. > :08:46.streets on corners. This is what it has been turned into. Tiny hits of
:08:47. > :08:53.caviar stuffed with saffron. It looks cool and tastes just as good,
:08:54. > :09:01.and they are hoping that they can attract young people back to Indian
:09:02. > :09:06.food, specifically young people. This entrepreneur is hoping that his
:09:07. > :09:14.restaurant launch is as blessed as his previous ventures. His father is
:09:15. > :09:20.a very well-known chef, and he wants to continue that legacy with a
:09:21. > :09:25.twist. We take Indian food and maintain the authenticity and do not
:09:26. > :09:29.mess with the flavours. We produce a very modern avatar of that same
:09:30. > :09:36.dish. If you want to take a cuisine global you have to do that. It is
:09:37. > :09:40.not just molecular food. Chefs are taking cuisine at sitdown
:09:41. > :09:43.restaurants to the places young people hangout. This is one of the
:09:44. > :09:52.first chefs to put Indian delicacies in bars and pubs. We wanted it to be
:09:53. > :10:02.like a gastronomy restaurant with our own definition. We did not want
:10:03. > :10:09.to rely on tradition and formality. We wanted to put the spin and the
:10:10. > :10:17.fun back into the product, but also focusing on food and being
:10:18. > :10:20.unabashedly Indian. For Indian entrepreneurs, getting young Indians
:10:21. > :10:24.on board is crucial to taking its global. But with a host of global
:10:25. > :10:28.cuisines available in popular here at very affordable prices, they are
:10:29. > :10:35.not only competing with traditional Indian food. So it may win customers
:10:36. > :10:42.early on, but it could be tough to keep them coming back. BBC News,
:10:43. > :10:49.Delhi. I am ready for breakfast. Before we go, a quick look at the
:10:50. > :10:53.markets right now. A mixed bag. The Nikkei down by a point. That is due
:10:54. > :10:57.to be strong US dollar. The All Ords down. Thank you very much for
:10:58. > :11:04.investing your time with us.