:00:00. > :00:07.Now on BBC News all the latest business news live from Singapore.
:00:08. > :00:26.A mining company makes the biggest investment in Australia ever by an
:00:27. > :00:33.Indian company but where is the funding going to come from? And find
:00:34. > :00:35.out how an executive behind Japan's most popular search engine feels up
:00:36. > :00:50.for a busy day. Vatican joined us for this midweek
:00:51. > :00:55.edition. Shares of Adani jumping 9% in more by trading on Tuesday after
:00:56. > :01:03.news that the Adani group is going to go ahead with its controversial
:01:04. > :01:07.coalmine project in Australia. -- Mumbai. There are still many
:01:08. > :01:11.unanswered questions about this project.
:01:12. > :01:18.After a lot of hurdles and delays, Adani is moving ahead with the
:01:19. > :01:22.project but there are still a lot of questions that remain unanswered.
:01:23. > :01:27.The biggest one of them, how was Adani going to finance this project?
:01:28. > :01:32.The total cost of building this coalmine is $12 billion. Adani is in
:01:33. > :01:37.no position to finance this project internally because it has a huge
:01:38. > :01:40.debt on its books. It's already highly leveraged and is in no
:01:41. > :01:46.position to bring down that debt in the few years. The other option is
:01:47. > :01:51.banks. But the big Australian banks have already said they will not
:01:52. > :01:54.finance this project because of the huge controversy it is basing on the
:01:55. > :01:57.ground. The Indian banks are already struggling due to high levels of
:01:58. > :02:03.non-performing assets except -- except for the State Bank of India.
:02:04. > :02:07.Its already announced it will extend the loan of $1 billion for this
:02:08. > :02:14.project but that will not be enough. Adani is saying it is looking to
:02:15. > :02:17.secure $650 -- 600 $50 million from the Australian Government to get
:02:18. > :02:23.started but there are no clear answers as to how it will fund the
:02:24. > :02:28.project in the long-term. Adani still faces huge ground opposition.
:02:29. > :02:31.Even though they say they will go ahead, environmentalists say they
:02:32. > :02:36.will oppose this project right to the end. The biggest concern is that
:02:37. > :02:40.the coal exported from Australia to India on the ships will further
:02:41. > :02:46.damage the already ailing Great Barrier Reef. Adani at this stage is
:02:47. > :02:48.saying it plans to start the construction of the project later
:02:49. > :03:01.this year, September or October. The Philippines has put a temporary
:03:02. > :03:05.ban on its workers heading to Qatar after several Arab countries broke
:03:06. > :03:11.diplomatic ties with the country, accusing it of supporting Islamist
:03:12. > :03:15.militants and Iran. There are about 250,000 Filipino workers in Qatar.
:03:16. > :03:20.The Middle East is a major source of remittance income for the
:03:21. > :03:24.Philippines. Gruber has confirmed that 20 people have been sacked from
:03:25. > :03:29.the company as part of an investigation into sexual
:03:30. > :03:33.harassment. -- Uber. The company set up a hotline in February for staff
:03:34. > :03:40.to report issues. There were 215 claims. I earlier spoke with Dave
:03:41. > :03:44.Lee, if all the firings were over sexual harassment. They were not in
:03:45. > :03:49.the company was very keen to stress that. They related to a variety of
:03:50. > :03:53.things. The breakdown was that many of the complaints were dealing with
:03:54. > :03:57.things like unprofessional behaviour, leading, physical
:03:58. > :04:03.security and discrimination and they didn't specify it was gender but it
:04:04. > :04:08.was of any kind and sexual harassment made up 47 of the 215
:04:09. > :04:14.claims they got in total and 20 staff were terminated as a result of
:04:15. > :04:18.some of those claims. A big move for Uber and they are under a lot of
:04:19. > :04:22.pressure to clear house on some of this bad workplace culture they seem
:04:23. > :04:29.to have caught. Clearinghouse indeed. What more do you know about
:04:30. > :04:33.these dismissed Uber employees? They have not released the names of the
:04:34. > :04:39.employees but we have been told that have leased a one fired employees
:04:40. > :04:43.was a very senior worker at the company but they will not say who
:04:44. > :04:50.exactly that is. We do know there may be more to come. There are still
:04:51. > :04:54.57 cases still being reviewed so that could be more disciplinary
:04:55. > :04:59.action on the way. Next week, we are expecting to hear even more about
:05:00. > :05:03.how Uber is attempting to change its culture. There are meant to be
:05:04. > :05:07.reports released to staff outlining some of the things they are going to
:05:08. > :05:12.change. This problem is not going away from Uber but they are keen to
:05:13. > :05:16.show they are getting on top of it for the time being. That was Dave
:05:17. > :05:19.Lee in Silicon Valley. The global financial industry is keeping a
:05:20. > :05:24.close eye on a vote in Washington which could undo reforms put in
:05:25. > :05:29.place after the 2008 financial crisis. The financial choice act
:05:30. > :05:32.will repeal key laws, regulating banks, that were established during
:05:33. > :05:39.the Obama Administration. It would eliminate some regular trip powers.
:05:40. > :05:44.It would also exempt banks from many existing financial rules if they
:05:45. > :05:54.need to boost their capital reserves. Earlier, I spoke to Eric
:05:55. > :06:01.Yuen. I asked if this could lead to a repeat of 2008? If that were to be
:06:02. > :06:10.the case, I would be concerned but I do not think so. First of all, it's
:06:11. > :06:17.a debatable question whether the original bill stated -- achieved its
:06:18. > :06:24.purpose, which was to do away with the undue accesses of the banks in
:06:25. > :06:30.2008. As a practical matter, as a matter of political reality, it is
:06:31. > :06:35.highly unlikely that much of the provisions that the Wall Street
:06:36. > :06:40.banks have been against would be repealed. If indeed this becomes a
:06:41. > :06:46.reality, how would this impact the backing of financial institutions in
:06:47. > :06:52.Asia? You might it frees up well capitalised banks with a 10%
:06:53. > :06:56.leveraged ratio much of the risk-based capital and stress tests
:06:57. > :07:01.and other regulations. It would free up more capital to allow banks to
:07:02. > :07:15.engage in a greater amount of lending. Also, if the despised rule
:07:16. > :07:26.against proprietary trading is restricted, that would also be
:07:27. > :07:31.welcome relief for the banks. Naoto Miyamoto overseas Yahoo Japan, the
:07:32. > :07:36.on line portal being one of the most influential -- influential news
:07:37. > :07:43.sites in the country. His days are long and he often eats Breakfast on
:07:44. > :07:45.the run. We caught with him -- we caught up with him for a sitdown
:07:46. > :09:55.meal. I am ready for my Japanese
:09:56. > :10:00.Breakfast. That was Naoto Miyamoto from Yahoo Japan in Tokyo. Before we
:10:01. > :10:06.go, use our quick look at the markets. Japan, South Korea and
:10:07. > :10:12.Australia are all open for business and investors there are jittery
:10:13. > :10:15.after US equities mostly retreated two days before the British general
:10:16. > :10:17.election and congressional testimony from fired former FBI chief James
:10:18. > :10:29.Comey. As the Wall Street -- Wall Street,
:10:30. > :10:33.the key indices fell in negative territory, closing down by 48
:10:34. > :10:45.points. They give are joining us. Goodbye for now.
:10:46. > :10:53.The headlines this sour. UK security services are facing more questions
:10:54. > :10:54.following revelations that they were warned about the