:00:16. > :00:23.The British Prime Minister faces a showdown with Conservatives after
:00:24. > :00:29.losing her majority in last week's election. And live streaming is a
:00:30. > :00:33.multibillion dollar industry, but check out some extreme measures
:00:34. > :00:39.Chinese Internet stars take to become popular.
:00:40. > :00:44.Good morning, Asia. Hello, world. Welcome to another edition of Asia
:00:45. > :00:50.Business Report. I'm Rico Hizon. It's a Monday. Glad you could join
:00:51. > :00:55.us. The former British Chancellor, George Osborne, has said he does not
:00:56. > :01:01.believe there is enough support for a hard Brexit following the loss of
:01:02. > :01:07.Tory seats in the General Election. Those comments come as Theresa May
:01:08. > :01:12.meets Conservatives to shore up her position after they lost their
:01:13. > :01:14.majority last week. She is trying to negotiate a deal with Northern
:01:15. > :01:20.Ireland's Democratic Unionist Party to give her a majority in the House
:01:21. > :01:25.of Commons. As we report, it comes down to trade, as Europe command a
:01:26. > :01:30.key export market for Northern Ireland. In economic terms, Northern
:01:31. > :01:35.Ireland is less economically developed as the Republic of Ireland
:01:36. > :01:40.and the UK. It is a smaller economy with lower levels of activity and
:01:41. > :01:43.exports and heavily dependent on the state. Those sectors apart from the
:01:44. > :01:49.states it relies on our tourism, manufacturing, and food. And they
:01:50. > :01:54.need large supplies with low-skilled labour, mostly from Eastern Europe,
:01:55. > :02:00.especially Poland. If Britain leads the single market, the stated
:02:01. > :02:03.position for now, the DUP may request an exemption on the free
:02:04. > :02:09.flow of labour into Northern Ireland as part of its package with the
:02:10. > :02:16.Conservatives WWE also wants London to pick up the 450 million dollars a
:02:17. > :02:21.year sent to Belfast for subsidies on top of the $1 billion a month
:02:22. > :02:28.London already sends to Brussels. And then there are political bribes.
:02:29. > :02:34.They want more investment in infrastructure. That means road and
:02:35. > :02:43.rail projects otherwise not economic will not get shot down and will be
:02:44. > :02:48.built. Business confidence has sunk after the election as a snap poll
:02:49. > :02:54.found a dramatic drop in confidence following the hung parliament. There
:02:55. > :02:59.are hopes the minority Conservative government could stave off a further
:03:00. > :03:05.fall in the sterling when trading begins on Monday. It is at 1.27 to
:03:06. > :03:10.the US dollar. The fall of the pound against the dollar and euro was less
:03:11. > :03:14.dramatic than the drop in the week after the EU Referendum in June of
:03:15. > :03:18.last year. Central banks from Washington to London to Tokyo will
:03:19. > :03:22.be announcing if they are indeed ready to raise the cost of borrowing
:03:23. > :03:28.this week. The decision from the Fed is coming on Wednesday. We can
:03:29. > :03:34.expect market reaction on Thursday morning. That comes after a
:03:35. > :03:42.surprising election result on Friday. We can expect the Bank of
:03:43. > :03:50.Japan to announce its policy decision. Toshiba is expected to
:03:51. > :03:58.announce who they will sell their business to in a board meeting on
:03:59. > :04:01.Thursday. Earlier, I spoke to Tony Nash from Complete Intelligence,
:04:02. > :04:04.asking him whether the Federal Reserve will this week raise
:04:05. > :04:08.interest rates for a second time this year the pill it is quite
:04:09. > :04:16.possible. In the first quarter, GP was up 7%. The economy is looking
:04:17. > :04:23.better. Inflation is over 2% one of the key targets for the Fed. I would
:04:24. > :04:30.not be surprised to see a rise this week and maybe one later in the
:04:31. > :04:35.year. If they decide to hold in this meeting, why? They could be cautious
:04:36. > :04:40.and say we want more workforce participation and other things. But
:04:41. > :04:45.it is... There is less and less reason to be cautious and more and
:04:46. > :04:50.more reason to be a little bit more active than they have been. The UK,
:04:51. > :04:54.the flux after the elections, will there be a reason for the bank
:04:55. > :05:00.moving on monetary policy? We don't think so. There has been talk about
:05:01. > :05:03.easing. The UK needs fixed investment, they need investment.
:05:04. > :05:09.Retail has come off a bit because of the pound depreciation. But they
:05:10. > :05:15.really need investment to get the economy going again. Umm, but the
:05:16. > :05:20.Central Bank, they are already in middle interest rates, it won't
:05:21. > :05:28.help. The Bank of Japan, last week, we saw the last quarter GDP revised
:05:29. > :05:34.downwards from 2.2% to 1%. Where did they get it wrong? What does this
:05:35. > :05:37.mean for interest-rate decisions from the Bank of Japan members this
:05:38. > :05:46.week? It is interesting. Central banks have spent $1.5 trillion in
:05:47. > :05:56.markets. We don't expect the Bank of Japan to move. There will be -0 .1%
:05:57. > :06:01.on banks. They will keep the tenure at about 0%. You have got really
:06:02. > :06:12.free money in Japan. There is no cost to holding an borrowing. It is
:06:13. > :06:20.Jekyll and Hyde. When can we see sustainability in the economy? We
:06:21. > :06:24.don't see much improving in Japan until about 2019, OK? We have real
:06:25. > :06:29.issues in retail coming on in 2008 in. We are still not seeing
:06:30. > :06:41.manufacturing numbers getting better. -- 2018. It is getting
:06:42. > :06:45.better, but not sustaining. That was Tony Nash from an analytics company.
:06:46. > :07:04.And now we move to some breaking news on the corporate scene. Fuji
:07:05. > :07:06.Film has flagged bigger losses than expected from overseas units, 340
:07:07. > :07:09.million dollars. The price fell sharply after accounting
:07:10. > :07:14.irregularities spread to Japan. Chinese box office ticket sales
:07:15. > :07:18.could have saved The Mummy after its weak opening in the US and Canada
:07:19. > :07:25.us. It brought in $70 million in China and South Korea alone, setting
:07:26. > :07:31.records for films starring Tom Cruise. It shows big budget
:07:32. > :07:41.Hollywood films remain popular in Asia decides failing in America. So
:07:42. > :07:46.many people watch live streaming websites. Beijing commonly shuts
:07:47. > :07:51.down ones that are obscene. But people continue to broadcast their
:07:52. > :07:55.daily lives on line, whether they are singing, dancing, or just eating
:07:56. > :07:58.pizza. And as we report, they are often prepared to take extreme
:07:59. > :08:05.measures to become Internet sensations. This woman sees her road
:08:06. > :08:09.to stardom as a full-time presenter on one of China's live streaming
:08:10. > :08:13.platforms. The competition is intense. She will go to any lengths
:08:14. > :08:18.to do it, including cosmetic surgery. TRANSLATION: It will make
:08:19. > :08:26.my live streaming performance more nice, and greatly increase my fans.
:08:27. > :08:33.That is because today's society values personal appearance.
:08:34. > :08:41.Streaming presenters flirt, then, and tell jokes to encourage fans to
:08:42. > :08:45.buy virtual gifts. -- sing. It is split by the platforms, agencies,
:08:46. > :08:49.and the anchor. It is not as glamorous as it seems, but it can be
:08:50. > :08:53.lucrative to be live streaming is a big and growing business that is
:08:54. > :09:01.attracting the interest of technology giants, tencent, Alibaba,
:09:02. > :09:04.and others. It more than doubled in the last year with revenues of about
:09:05. > :09:11.4 billion US dollars, and it will only get bigger. Companies like
:09:12. > :09:15.ThreeMinuteTV provide presenters for various platforms, even arranging
:09:16. > :09:23.plastic surgery for would-be stars. TRANSLATION: There is an overall
:09:24. > :09:28.image. There are parents, emotional intelligence, and so on, we decide
:09:29. > :09:33.how much we should invest. -- their appearance. The ministry of culture
:09:34. > :09:37.is not entirely pleased. It has ordered some platforms to change
:09:38. > :09:42.content in the interest of public morality. But be live streaming
:09:43. > :09:48.craze has gripped Chinese viewers and is unlikely to disappear. -- but
:09:49. > :09:54.the. Even if it does undergo a facelift. BBC News. And before we
:09:55. > :10:00.go, this is a look at the markets. Asia is weak to start the new
:10:01. > :10:10.trading week. You can see the Nikkei went down by 70 points at the open.
:10:11. > :10:13.The All Ordinaries Index is flat to higher at 57.15. The British pound
:10:14. > :10:17.is at a seven-week low after the shock of the election. It is driving
:10:18. > :10:22.US equities lower. And everyone is watching out for whether the Federal
:10:23. > :10:26.Reserve will raise the cost of borrowing for the second time this
:10:27. > :10:38.year. As for the US markets, let us take a look at it. The Dow Jones is
:10:39. > :10:39.on your screen. Thank you for investing your time with us. I am
:10:40. > :10:50.Rico Hizon. Sport Today is up next. You are watching BBC News. I am
:10:51. > :10:51.Babita Sharma. The headlines. The Prime Minister