:00:00. > :00:00.scandal will give answers to what the Prime Minister has called the
:00:00. > :00:00.appalling tragedy. Now on BBC News, all the latest
:00:00. > :00:20.business news live from Singapore. It is a day of protest for big
:00:21. > :00:26.online companies. Find out why the likes of Amazon and Netflix are
:00:27. > :00:30.battling US rules on internet use. And China is spending billions on
:00:31. > :00:43.new aircraft but it may face a pilot shortage in the years to come. Good
:00:44. > :00:48.morning, Asia, hello, world. Glad you could join us for this edition
:00:49. > :00:53.of Asia Business Report. I am Rico Hizon. Some of the most popular
:00:54. > :00:58.websites may be slower to day. Companies like Facebook, Netflix and
:00:59. > :01:02.Amazon are taking part in a protest against changes being made to US
:01:03. > :01:06.rules which govern net neutrality. They claimed the new regulations
:01:07. > :01:11.will give the cable companies control over what its users see and
:01:12. > :01:15.do. Our North America technology correspondent explains. Right now,
:01:16. > :01:19.all internet traffic is treated the same, no matter where it has come
:01:20. > :01:23.from, where it is going, or what it is doing. That is something we call
:01:24. > :01:27.net neutrality. Without it, campaigners worry that internet
:01:28. > :01:30.service providers might be able to intentionally slow down your
:01:31. > :01:34.internet connection unless you pay more for things like video
:01:35. > :01:39.streaming, or they warned that could be some kind of internet fast lane,
:01:40. > :01:43.where big, rich companies could pay to make sure their sites loaded
:01:44. > :01:48.quickly, but other, smaller sites would be stuck in a slow lane
:01:49. > :01:51.instead. Throughout Wednesday, major internet companies will be
:01:52. > :01:55.simulating what it would be like to slow down their websites, in the
:01:56. > :01:59.hope that Americans will get in touch with their politicians to
:02:00. > :02:03.pressure them into supporting net neutrality. Over 70,000 websites
:02:04. > :02:07.will be pushing people towards the FCC to make their voices heard. It
:02:08. > :02:11.will also be pushing people towards numbers of Congress, and what we
:02:12. > :02:15.want the FCC to hear, what we want members of Congress to hear, is that
:02:16. > :02:19.net neutrality is wildly popular, which it is, and we want them to
:02:20. > :02:22.stop trying to murder it. But net neutrality does have some very
:02:23. > :02:30.powerful opponents. It includes companies like Verizon, IBM, Cisco,
:02:31. > :02:33.Nokia, and crucially the head of the FCC has also spoken out against net
:02:34. > :02:38.neutrality. Those who are against it say it adds unnecessary new
:02:39. > :02:41.regulation to the internet. They say net neutrality makes it harder for
:02:42. > :02:44.internet service providers to make back the money they invested in
:02:45. > :02:48.building the infrastructure that gives people a high-speed internet.
:02:49. > :02:53.Politicians, companies and the US public have up until August 16 to
:02:54. > :02:57.make their views on the issue is clear. Then, the Federal
:02:58. > :03:02.Communications commission will make its final decision before the end of
:03:03. > :03:12.this year. In other business news making headlines, music streaming
:03:13. > :03:18.service Spotify has seen its deal with Sony music. Spotify will
:03:19. > :03:21.restrict access to its albums on the premium service for two weeks.
:03:22. > :03:26.Royalty payments other company's largest expense. The company, which
:03:27. > :03:29.is yet to turn a profit, is said to be laying the groundwork for an
:03:30. > :03:36.initial public offering. Here is another twist in the battle for
:03:37. > :03:40.Toshiba's business. A temporary US court order has been granted to give
:03:41. > :03:48.access to Toshiba's databases and chip samples. Toshiba had earlier
:03:49. > :03:52.threatened to stop a company from having access, because it wants to
:03:53. > :03:59.block the sale of its chip business to a Japanese government linked
:04:00. > :04:04.consortium. Staying in Japan, Takata is reporting 3 billion more airbags
:04:05. > :04:07.in the United States. Around 46 million have already been recalled,
:04:08. > :04:12.the largest in history. The defective product is linked to 17
:04:13. > :04:15.deaths and more than 180 injuries worldwide. Takata filed for
:04:16. > :04:20.bankruptcy protection last month. China is set to become the world's
:04:21. > :04:27.biggest aviation market over the next few decades, and it is already
:04:28. > :04:31.on a buying spree. Boeing China airlines will spend $1 trillion
:04:32. > :04:37.buying airlines, not just blowing ones, over the next 20 years, but
:04:38. > :04:44.will China's infrastructure be able to keep up -- Boeing ones. There
:04:45. > :04:48.will be some struggles. That is the huge issue. One of the other things
:04:49. > :04:52.Boeing puts out as well as a survey of pilots, Boeing estimates that
:04:53. > :04:57.China will need well over 100,000 pilots. Not just pilots. Pilots are
:04:58. > :05:01.the cool job in the industry. You also need people to maintain the
:05:02. > :05:05.aircraft, so there is a lot of opportunity to employ people in the
:05:06. > :05:08.industry. There may not be enough supply of pilot's and maintenance
:05:09. > :05:12.people in China itself, especially good talent. They have to look
:05:13. > :05:18.outside of the mainland. They are indeed. There was an ad recently
:05:19. > :05:26.4737 captains in an outlying province in China -- for 737
:05:27. > :05:29.captains. It is a very good pay package for that kind of aircraft.
:05:30. > :05:34.You would be living in the hinterlands of China, you might be
:05:35. > :05:38.away from your family, if you are a foreign pilot. So there would be
:05:39. > :05:41.some sacrifices, but there are a lot of foreign pilots in China and
:05:42. > :05:45.emerging markets around the region. Are the big question is now, of
:05:46. > :05:49.course, with all of these new aircraft coming onstream in China,
:05:50. > :05:54.what about the safety record? China is quite aggressive about its safety
:05:55. > :05:57.record. They have a lot of rules and restrictions. They govern the
:05:58. > :06:01.airspace very tightly but there are concerns that pilots might be a bit
:06:02. > :06:04.overworked in China. There are some concerns that pilots might be over
:06:05. > :06:09.penalise if they have a hard landing or something like that. So there are
:06:10. > :06:13.some cultural issues around pilots in China that make it challenging.
:06:14. > :06:18.And what about the infrastructure? Is a growing together with a number
:06:19. > :06:22.of aircraft that have been ordered? China is adding more airports across
:06:23. > :06:27.the region. The problem is they don't have a lot of traffic. They
:06:28. > :06:33.might be a bit of overinvestment. The major centres, Shanghai,
:06:34. > :06:37.Beijing, they struggle to keep up with that traffic. The Philippines
:06:38. > :06:43.has been one of Asia's fastest growing economies in 2013, but is it
:06:44. > :06:45.seeing signs of a slowdown? According to the latest trade
:06:46. > :06:51.figures its deficit jumped to $2.8 billion in May, the biggest gap
:06:52. > :06:57.since data was recorded in 1980. The trade numbers led to a sell-off of
:06:58. > :07:00.the Philippine peso, which dropped to its lowest level against the US
:07:01. > :07:06.dollar since 2006, and that is a nine-year low. Earlier I asked our
:07:07. > :07:11.correspondent what is happening. It is partly a reflection of the trade
:07:12. > :07:16.deficit that we got yesterday, and that is coming back after a few
:07:17. > :07:22.sessions, may be almost a month now the peso has been underperforming on
:07:23. > :07:27.the lack of science it has been stabilising. It is not just a trade
:07:28. > :07:31.deficit. Since President Duterte took office, we have seen the
:07:32. > :07:36.depreciation of the peso. Is there also a political risk being included
:07:37. > :07:40.in the week currency? Yes, I agree. There is some political risk which
:07:41. > :07:44.is being priced in, I think a lot of it has to do with the uncertainty of
:07:45. > :07:47.the new government under President Duterte and what sort of reforms he
:07:48. > :07:51.can carry over from the past, and whether he can really implement
:07:52. > :07:54.them. I think slowly that uncertainty is coming off, but now
:07:55. > :08:00.we are having a lot of these trade numbers that are kind of an
:08:01. > :08:06.expanding deficit, but also the BSB looking like they are not going to
:08:07. > :08:10.hike rates any time soon, which is what a lot of people expected. So
:08:11. > :08:17.why are we seeing the central bank of the Philippines intervening to
:08:18. > :08:20.stem the peso's for? I think they have the ammunition to do it,
:08:21. > :08:24.because they have a lot of reserves at the moment. But I think the fact
:08:25. > :08:28.they have allowed it to weaken so far is because they are a little bit
:08:29. > :08:35.relaxed about how much inflationary consequences are weak peso has. And
:08:36. > :08:39.it is positive for incomes, because purchasing power becomes higher. So
:08:40. > :08:45.it is also a double-edged sword. It is good for overseas Filipino
:08:46. > :08:50.workers who are committing to the Philippines, for the outsourcing
:08:51. > :08:53.sector, but not so good for foreign investors who are sending money back
:08:54. > :08:56.to their home countries. This is where there is a lot of concern
:08:57. > :09:00.about the currency. Given its fundamentals, and the fact it is
:09:01. > :09:04.still underperforming, does not go well with what markets are expecting
:09:05. > :09:10.at the moment. So I think, provided things will be stable and the BSB
:09:11. > :09:16.comes in from time to time to keep it from fluctuating too much, I
:09:17. > :09:23.think that will stem that. What do you think of the peso by year's and?
:09:24. > :09:28.Right now forecast is for 49.5, so we are seeing a bit of appreciation
:09:29. > :09:36.from here. Social media can have an impact on politics and business. How
:09:37. > :09:43.crucial is that to develop a savvy understanding of social media
:09:44. > :09:50.platforms? Here is a review from a representative of Hootsuite. It has
:09:51. > :09:53.changed the face of politics, it has changed the face of business, and
:09:54. > :09:58.every single piece of the customer journey is there. Back a number of
:09:59. > :10:03.years ago, we would dial in 1800 call number to connect and get
:10:04. > :10:08.customer support. The generation which is growing up will not do
:10:09. > :10:11.that. They will go to social media, they will ask for transparency, they
:10:12. > :10:15.will ask for immediacy, and brands need to be there. The businesses
:10:16. > :10:24.that don't get there, they risk becoming obsolete. Financial
:10:25. > :10:27.services industry. You think that would be a laggard, you would think
:10:28. > :10:32.that would be an industry, but because they are facing such
:10:33. > :10:35.transformation, digital transformation, there has actually
:10:36. > :10:47.been an amazing adoption of social media. And that was Ryan Holmes of
:10:48. > :10:50.Hootsuite. And with that we and this edition of Asia Business Report.
:10:51. > :10:55.Thank you for investing your time with us. I am Rico Hizon in
:10:56. > :10:59.Singapore. Sport Today is coming up next.
:11:00. > :11:03.The top stories this hour: President Trump's son has released