11/05/2017 Asia Business Report


11/05/2017

Similar Content

Browse content similar to 11/05/2017. Check below for episodes and series from the same categories and more!

Transcript


LineFromTo

The BBC has seen a copy of Labour's draft manifesto which has been

:00:00.:00:17.

leaked ahead of its publication next week.

:00:18.:00:21.

It includes plans to nationalise parts of the energy industry

:00:22.:00:44.

Shares in the company that owns flat chat plunge. And we going to link to

:00:45.:00:52.

some advice from one of Singapore 's most unusual entrepreneurs. It is a

:00:53.:01:02.

Thursday, everyone. Good morning, Asia and hello, world. What a crash!

:01:03.:01:15.

Shares in Snap, parent company of Snapchat have fallen over 20% in

:01:16.:01:19.

after hours trading on Wall Street. This pitfall comes after they

:01:20.:01:23.

reported losses of over $2 billion US in its first quarterly results.

:01:24.:01:27.

What happened after its redhot share sale in March? Earlier our

:01:28.:01:32.

correspondent told us how it went from being a market darling to being

:01:33.:01:38.

shunned by investors. In the latest earning reports Snapchat has grown

:01:39.:01:42.

by less than 5% which is not enough to keep anyone happy. Revenue has

:01:43.:01:46.

not been high enough and, like you said, they had a huge loss. So while

:01:47.:01:52.

that was big hope that they could provide competition to Facebook in

:01:53.:01:56.

the future on this early evidence, the first real test of their

:01:57.:01:59.

business potential, it seems they have not managed to do that. The bad

:02:00.:02:09.

news is piling up. Any word from the bosses to appease shareholders? One

:02:10.:02:12.

of the investors on their earnings quarter after the results were

:02:13.:02:18.

published was asked if there were any products coming down the line of

:02:19.:02:21.

the already product they could get excited about and quite friendly

:02:22.:02:25.

there was no answer. They have come up with creative and innovative

:02:26.:02:28.

things but nothing too specific. He was also asked whether he was asked

:02:29.:02:36.

-- worried about Facebook. His maiden comparison. Is there just

:02:37.:02:41.

because Yahoo! Put our search engine on its website did not make it

:02:42.:02:47.

Google. The suggestion is that because Facebook is steeling the

:02:48.:02:50.

ideas of Snapchat it does not make it Snapchat. Our correspondent there

:02:51.:02:59.

are in San Francisco. Investors will be keeping a close eye on Japanese

:03:00.:03:04.

car maker listen's results which will be out later today following a

:03:05.:03:10.

dismal performance from its competitor, Toyota. The second

:03:11.:03:13.

largest carmaker in the world saw a drop in full-year profits to $16

:03:14.:03:20.

billion US. The forecast is for more pain to come with the cost of

:03:21.:03:24.

customer incentives for sales in North America and a strong yen

:03:25.:03:33.

against the US dollar. We have our correspondent explains the

:03:34.:03:35.

challenges that these carmakers are facing. The CEO of Toyota said he

:03:36.:03:41.

senses a sense of crisis at this point. The Japanese automakers are

:03:42.:03:46.

getting pinched at both ends. The yen is crushing their earnings and

:03:47.:03:51.

on the other end key markets like the United States are starting to

:03:52.:03:55.

slow down. Those are traditionally their cash cow markets, so they are

:03:56.:04:01.

getting pinched on both ends. For how much it longer will these cost

:04:02.:04:07.

impact profitability? We should see them rolling to an end here, the

:04:08.:04:12.

impact. The airbag recalls are under control for the time being, there

:04:13.:04:16.

may be a few lingering recalls that over the next few years but the main

:04:17.:04:20.

cost for those has already been booked. That was the order the

:04:21.:04:29.

editor in Japan. At different story for Softbank. Posted their

:04:30.:04:35.

second-best annual profits, with operating profitability for the year

:04:36.:04:40.

rising 15% to $9 billion US. It follows cost-cutting and the rise in

:04:41.:04:47.

subscribers although its US mobile business in the US, Sprint. SoftBank

:04:48.:04:56.

confirms a $5 billion investment in the Uber of China. New data from

:04:57.:05:02.

South Korea shows the jobless rate rising slightly in April to just

:05:03.:05:06.

over Quattro%. This is in the midst of a protracted slump in the

:05:07.:05:09.

manufacturing sector. The new President of South Korea has set a

:05:10.:05:15.

priority to create more than 800,000 jobs in the public sector. Profits

:05:16.:05:19.

at 21st century Fox addict in the first three months of the year,

:05:20.:05:25.

weighed down by flat cable advertising sales and less

:05:26.:05:28.

successful movie releases. The company made about $800 million in

:05:29.:05:32.

profits. 5% down from the same period last year. Has the battle for

:05:33.:05:40.

eyeballs heats up with on demand platforms like Netflix, Amazon

:05:41.:05:45.

Prime, cable TV businesses have a difficult fight on their hands. Here

:05:46.:05:51.

in Asia the largest international TV networks is three times the size of

:05:52.:05:55.

its nearest competitor. As part of our new segment I spoke with the

:05:56.:06:03.

president of Asia-Pacific and the Middle East. It is all about content

:06:04.:06:07.

and having the best content. We are known for this and we have doing it

:06:08.:06:11.

for decades, telling the best stories from around the world beat

:06:12.:06:15.

in the form of TV shows, movies, sport, documentary we have it all.

:06:16.:06:19.

And what we are doing now is bringing that content to our

:06:20.:06:24.

consumers any way they want anywhere they want. Some live, some on

:06:25.:06:32.

demand. The original platform of Fox has been cable. Will there be

:06:33.:06:35.

obsolete and everything shifted to on demand? We believe that cable

:06:36.:06:44.

serves a great purpose. It provides amazing first-time content live to

:06:45.:06:47.

consumers. It provides great brands. It is a question of whether we can

:06:48.:06:51.

now provide that in a user-friendly manner to streaming services.

:06:52.:06:56.

Ultimately you will come down to the content. Our acquisitions the route

:06:57.:07:04.

to challenging competition such as Netflix, Amazon and Google? We

:07:05.:07:08.

leader in this segment but we are open to acquisition. We acquired SBS

:07:09.:07:14.

then sports a few years ago. We back ourselves. Fox is a great way to get

:07:15.:07:24.

new subscribers for new experiences. What other acquisitions are you

:07:25.:07:28.

looking out for the complementary existing service? We are always

:07:29.:07:33.

looking. It could be in production, in delivery, but, really, it is

:07:34.:07:37.

about bringing the best content to our consumers live, be it in or

:07:38.:07:42.

entertainment. What is your vision over the next five years for video

:07:43.:07:48.

on demand or streaming services? It is a great way to reach uncapped

:07:49.:07:59.

audiences. There are hundreds many people who have yet to experience

:08:00.:08:04.

pay television. Thank you so much for joining us. From one CEO to

:08:05.:08:15.

another and one of the best-known entrepreneurs in Singapore started

:08:16.:08:20.

as a hairdresser in London. She has business advice for anyone willing

:08:21.:08:26.

to listen. We joined her one morning for fishing and a bite to eat.

:08:27.:08:38.

Fishing is inspirational for me now. I started fishing in nine years ago

:08:39.:08:46.

and now every morning I want to fish. It brings a passion and

:08:47.:08:52.

excitement in what I want to do. Fishing is a good method for

:08:53.:08:59.

business. When you fish you must be ready. You must be ready with all of

:09:00.:09:04.

your equipment, and your bait, your lower, it must all be well prepared.

:09:05.:09:11.

Thank you for inviting me for breakfast. Welcome. We all have

:09:12.:09:20.

breakfast just behind us. This morning we are having nasi lemak

:09:21.:09:32.

with Chile. I began as a hairstylist and I was wearing all of the things

:09:33.:09:36.

I was used to buy and when I was living in London. People used to

:09:37.:09:40.

tell me that they liked my bracelet, and I would sell it on the spot. I

:09:41.:09:48.

then started selling and importing things from London and that is how I

:09:49.:09:54.

started. And then I got into Doctor Martin shoes and were studied making

:09:55.:10:00.

money once we started selling them. Blue hair. It is unusual in

:10:01.:10:06.

Singapore. What do you say to people who think you are a maverick and

:10:07.:10:11.

that is what has helped to succeed? I always believed that entrepreneurs

:10:12.:10:15.

are delinquents in a way and we cannot take no for an answer and we

:10:16.:10:20.

go for it and do it to improve the people -- prove people they are

:10:21.:10:29.

wrong. Next thing we will enter is farming. We started a catfish farm

:10:30.:10:33.

in Indonesia. Whether it succeeds or not we will just keep getting up and

:10:34.:10:42.

trying again and again and again. Please, bring some fish back to the

:10:43.:10:47.

office! Thank you for joining us. Before we go here is a quick look at

:10:48.:10:51.

the market was in S. Asia is in positive territory at the moment.

:10:52.:10:56.

All markets are up. Thank you for joining us.

:10:57.:11:09.

You are watching BBC News. Our top stories sour - President

:11:10.:11:10.

Download Subtitles

SRT

ASS