:00:00. > :00:00.plans for new selective grammar schools in England. But Labour says
:00:07. > :00:09.it does not support social mobility. Let's go to all the latest business
:00:10. > :00:25.news from Singapore. Back on the road: Uber resumes in
:00:26. > :00:32.Singapore after a two-month suspension. At a BBC investigation
:00:33. > :00:41.shows how a B users became targets for scammers. -- Airbnb. Borken to
:00:42. > :00:49.Asia Business Report. I am Sharanjit Leyl.
:00:50. > :00:59.Uber will return to Taiwan after being suspended for not complying
:01:00. > :01:04.with insurance and safety standards. So what kind of agreement did Uber
:01:05. > :01:09.come to with the government? I spoke to the head of Uber in Taiwan. We
:01:10. > :01:14.have been in close contact with the Ministry of Transport over the past
:01:15. > :01:19.few months to see if we could devise a model to resume services as
:01:20. > :01:25.quickly as possible. We are working with light and rental car companies
:01:26. > :01:30.here and Taiwan. You see working with the Ministry of Transport.
:01:31. > :01:38.You're spoken to the trepidation minister about the new pricing
:01:39. > :01:44.model. Will prices stay the same? -- transportation minister. Consumers
:01:45. > :01:47.will now see the exact price on their out after they enter the
:01:48. > :01:54.destination and their pickup address. The good thing about this
:01:55. > :01:59.is that it is good for consumers in that there will be more transparency
:02:00. > :02:07.around the price of that particular ride, before they even request the
:02:08. > :02:11.car. What about the issues of fines and unpaid taxes? The Ministry of
:02:12. > :02:20.Finance as you have unpaid taxes of nearly $4.5 million. It is also --
:02:21. > :02:26.it is also danger executives from leaving the country. How will you
:02:27. > :02:29.resolve is? We are looking to resolve as swiftly as possible. We
:02:30. > :02:36.have reached out to the relevant authorities over the past couple of
:02:37. > :02:40.months to discuss this issue. It has currently entered into legal
:02:41. > :02:44.proceedings, right now. So we are taking the legal course to resolve
:02:45. > :02:51.this as quickly as possible. You have been slapped with hefty fines.
:02:52. > :02:56.You know when they will be paid? We would like to resolve this with the
:02:57. > :03:00.Taiwanese government. And we are committed to the Taiwanese market.
:03:01. > :03:04.But it has gone through legal proceedings, right now. We will see
:03:05. > :03:08.how that plays out. It is arrangement that you currently have
:03:09. > :03:15.the government, is this permanent? Or just a stopgap? I think it is an
:03:16. > :03:21.important first app in that we are partnering with the Taiwanese
:03:22. > :03:29.government to find a way that we can reserve the Uber service in Taiwan.
:03:30. > :03:35.-- resume. This is after dozens of people have written to us asking
:03:36. > :03:39.when we will resume. Andy Cohen is government does recognise the need
:03:40. > :03:43.to have foreign companies like Uber have a foothold in Taiwan. We look
:03:44. > :03:51.forward to continued dialogue with them. -- and the Taiwanese
:03:52. > :04:06.government. And AC Milan has new owners. Silvio Berlusconi has sold
:04:07. > :04:13.it to a Chinese led consortium. Last year, their arrival was also
:04:14. > :04:20.purchased. Cyclone Debbie, which swept parts of Australia, will cost
:04:21. > :04:34.an estimated $1.3 billion. That figure came from the second largest
:04:35. > :04:38.world insurer. Cyclone Debbie made landfall as a category four storm
:04:39. > :04:43.which smashed resorts, brought down power lines, and shut coal mines
:04:44. > :04:49.before moving on to New Zealand. Starbucks has reported a sharp fall
:04:50. > :04:52.in profits in its UK business, which plans of a slowing economy and the
:04:53. > :04:59.effects the Brexit vote on consumer confidence. Bear Story 16% drop in
:05:00. > :05:04.pre-tax profit to October. There were other factors which drag down
:05:05. > :05:08.profits, including UK investment and restructuring costs. It is burning
:05:09. > :05:14.season for corporate America. Major US lenders have announced another
:05:15. > :05:17.round of quarterly results. We heard from JPMorgan Chase and Citigroup.
:05:18. > :05:25.They both had better results than expected. But growth is starting to
:05:26. > :05:32.slow down. This follows a rate hike in March. How much worry will that
:05:33. > :05:43.be for the US banking sector? I asked Michel Fleury this early --
:05:44. > :05:48.Michelle. -- earlier. I expect will you more about this next week, when
:05:49. > :05:52.people like Goldman Sachs report. But on the loan so that things, this
:05:53. > :06:01.is where you saw the disappointment. -- loan side. The JP Morgan boss
:06:02. > :06:07.described consumers and investors being healthy overall. The key
:06:08. > :06:12.question is what this administration under Donald Trump can do. There
:06:13. > :06:16.have been talks about easing regulations. On that issue, Jamie
:06:17. > :06:23.Dimon said growth could accelerate if some of these things D. --
:06:24. > :06:32.Diamond. You talk about these regulations and easy those
:06:33. > :06:36.regulations. Donald Trump has pledged that he will look to reform,
:06:37. > :06:43.but nothing has been done, yet. Other concerns -- are their concerns
:06:44. > :06:48.about what it could happen down the road? There are certain issues that
:06:49. > :06:52.banks care about, but broadly speaking, you think about these big
:06:53. > :06:57.Wall Street firms. -- there. They have spent years in lamenting the
:06:58. > :07:03.rules that were involved in Dodd-Frank, the legislation passed
:07:04. > :07:07.in the financial crisis. Given how much was spent on that, it will be
:07:08. > :07:10.interesting to see how many of the things they want reverse. How many
:07:11. > :07:16.things they think are detrimental to business. Obviously, as you know, we
:07:17. > :07:21.have a Goldman Sachs ally in the White House. They also have Steven
:07:22. > :07:31.Mnuchin, who is now the Treasury century. -- secretary. We'll have to
:07:32. > :07:38.wait and see what engages us have -- what indications this has. Less
:07:39. > :07:44.known was another company which benefited when it Citigroup and JP
:07:45. > :07:49.Morgan did. But it had a 35% drop in the opening of new checking accounts
:07:50. > :07:58.and a tumble in credit card applications. Make of that what you
:07:59. > :08:05.will. Airbnb is improving the security of its app and system after
:08:06. > :08:09.homes were burgled by scammers using stolen accounts. They hijacked
:08:10. > :08:19.accounts to pull off the gas. I walked the police into this room,
:08:20. > :08:23.which you see is full of stuff, but it was completely anti-. Like
:08:24. > :08:27.millions of people, Christian had let out his home while he was out of
:08:28. > :08:31.town as a convenient way to make money. He had done so for years
:08:32. > :08:34.without a problem, but on his birthday, in his home was burgled.
:08:35. > :08:42.While I was enjoying the hotel and having breakfast, and returned to
:08:43. > :08:48.the hotel room to relax a little, I got that text message saying that
:08:49. > :08:55.somebody was in the account. My birthday was over. Christian thought
:08:56. > :09:01.he had let out his home to a verified profile. It had previous
:09:02. > :09:05.positive reviews. But the account had been stolen. The name,
:09:06. > :09:12.photograph, and contact details were changed, but the Airbnb verified
:09:13. > :09:17.batch was kept. And he is not alone. The BBC has spoken to two others who
:09:18. > :09:24.were robbed this way, and three others who had their account stolen.
:09:25. > :09:28.And Facebook users have made many reports on the Airbnb page. They
:09:29. > :09:32.might just have tricked people into handing over their passports, but
:09:33. > :09:36.there are ways that Airbnb could have defended against us. Google,
:09:37. > :09:42.Facebook, and Twitter, amongst others, offered to step traffic and,
:09:43. > :09:46.involving using a code sent to your phone, as was your password, to act
:09:47. > :10:00.your account. We put these concerns to Airbnb, who gave his response...
:10:01. > :10:05.-- this. Those changes include 2-step verification when suddenly
:10:06. > :10:08.locked into a new device and text message alerts if somebody changes
:10:09. > :10:12.your profile information. But the Christian, the changes come too
:10:13. > :10:14.late. He said the whole experience has left him with a bad feeling, and
:10:15. > :10:25.he might not use Airbnb again. Let's take a look at the markets.
:10:26. > :10:29.Most are closed for Easter. But the Nikkei is open. We are seeing
:10:30. > :10:35.Toshiba being driven down by about 8% there. That market open along
:10:36. > :10:44.with Chinese markets. Hello. You're watching BBC News. We
:10:45. > :10:46.bring up-to-date with our