Browse content similar to 02/08/2017. Check below for episodes and series from the same categories and more!
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British Gas is to increase electricity prices by 12.5% from | :00:00. | :00:00. | |
The move - which will affect more than three customers - | :00:00. | :00:00. | |
has led to calls for a cap on energy costs. Now on BBC News | :00:00. | :00:11. | |
- all the latest business news live from Singapore. | :00:12. | :00:16. | |
Apple reports sweet earnings due to better than expect that sales of | :00:17. | :00:32. | |
iPhones and iPods. And it splits in two to form a new currency -- | :00:33. | :00:39. | |
Bitcoin. We start with Apple, which has reported a juicy set of | :00:40. | :00:45. | |
earnings. Its shares are rising to record highs. It is best known for | :00:46. | :00:51. | |
its iPhones and computers, and they have reported a 7% rise in revenue | :00:52. | :00:57. | |
to just over $45 billion. Profits from Apple watch, Apple TV and other | :00:58. | :01:03. | |
products jumped more than 20% compared to last year. But revenue | :01:04. | :01:09. | |
from China fell for the fifth straight quarter. We go to our North | :01:10. | :01:16. | |
America technology reporter. He talked us through the results. It | :01:17. | :01:23. | |
was kind of in line with what they were hoping for. There are some big | :01:24. | :01:27. | |
wins, particularly for the iPad. That is a product that has | :01:28. | :01:31. | |
essentially been declining for just over the last three years. This | :01:32. | :01:35. | |
quarter, it showed some growth. I think that can be attributed to the | :01:36. | :01:42. | |
new iPad Brough, the software that runs on the iPad and other iPhones. | :01:43. | :01:48. | |
Apple also pleased with the performance of their services | :01:49. | :01:55. | |
departments -- iPad pro. Things like their services, the App Store and so | :01:56. | :02:06. | |
on. The service is part of a bull alone could be made a fortune 500 | :02:07. | :02:11. | |
company. Apple is keen, although they could rely on the success of | :02:12. | :02:18. | |
the iPhone, they are keen to grow the development of their services. | :02:19. | :02:23. | |
Services adding to profits for a pool, where else are they looking | :02:24. | :02:27. | |
for growth, particularly here in Asia? They have not been performing | :02:28. | :02:32. | |
too well in China? Yes, they have been struggling in China. They are | :02:33. | :02:38. | |
in a trough with China, with a suggestion that they will come out | :02:39. | :02:42. | |
that trough and improve things. They are also looking to expand in India. | :02:43. | :02:51. | |
They want a certain tax breaks to incentivise the manufacturing class | :02:52. | :02:54. | |
in India. There is a huge potential for selling smart phones. Perhaps | :02:55. | :03:00. | |
building smart phones in the country could be an answer. However, the | :03:01. | :03:03. | |
Indian government has had meetings with Apple, and they have suggested | :03:04. | :03:10. | |
that if they offer those tax breaks, they should be offering them to | :03:11. | :03:14. | |
anyone else who wants to make devices in India. Another market | :03:15. | :03:23. | |
that Apple is looking to build in. Bitcoin developers have agreed to | :03:24. | :03:29. | |
create a new type of currency after not being able to agree on software | :03:30. | :03:33. | |
changes. They are not regulated, but can be used to pay for a variety of | :03:34. | :03:39. | |
services online and in real shops. While its value has been volatile, | :03:40. | :03:46. | |
they have seen virtual currency rise to nearly $3000. Why change course | :03:47. | :03:58. | |
now? What can you tell us? Bitcoin is now splitcoin. It comes down to | :03:59. | :04:06. | |
an argument over something called block chain technology, and how it | :04:07. | :04:11. | |
can carry more information as more people use crypto currencies. It | :04:12. | :04:17. | |
affects the speeds of transactions. For example, Bitcoin can handle six | :04:18. | :04:22. | |
transactions per second, compared to a payment system like Visa, which | :04:23. | :04:32. | |
can handle 1600. They want to increase the speed, but they have | :04:33. | :04:37. | |
been squabbling over how to do that. One group of developers have created | :04:38. | :04:44. | |
a new, second version of Bitcoin, which they are calling Bitcoin Cash. | :04:45. | :04:48. | |
It does not have a huge amount of support yet, but it is expected to | :04:49. | :04:54. | |
create some volatility in prices. That is because the original Bitcoin | :04:55. | :05:01. | |
is trading at nearly $3000. The new Bitcoin, it costs only around $200. | :05:02. | :05:09. | |
Fascinating analysis. Thank you. Earlier, I spoke to a Bitcoin | :05:10. | :05:12. | |
investor and asked him what investors can expect. It all depends | :05:13. | :05:18. | |
on what happens in three months from now. It has been promised by the | :05:19. | :05:26. | |
main Bitcoin development community, they are the second part of a | :05:27. | :05:35. | |
solution which are increasing the speed. They have had different | :05:36. | :05:45. | |
consensus in the past, so it will be interesting to see how it affects | :05:46. | :05:53. | |
Bitcoin Cash. We saw the prices escalate some 50% yesterday, but | :05:54. | :05:56. | |
then it fell again. What happens now with the values of these currencies? | :05:57. | :06:02. | |
They will be traded separately, as a lot of other coins. It will all | :06:03. | :06:11. | |
depend on how much the market is leading them. Currently, it is | :06:12. | :06:20. | |
roughly 10% of the value of Bitcoin, which is still about $10 billion. | :06:21. | :06:25. | |
Existing currency side by side, could this cause chaos in trading? | :06:26. | :06:31. | |
It depends... No, I would say no. Traders deal with these situations | :06:32. | :06:37. | |
many times. They are used to it. It is not a critical usage on the | :06:38. | :06:42. | |
ground. Online, there will be merchants and a processor who will | :06:43. | :06:47. | |
be able to deal with this situation. They have been dealing with | :06:48. | :06:53. | |
different crypto currencies before, it is nothing new. Who stands to | :06:54. | :06:59. | |
gain? URA Bitcoin investor, but who is going to gain and who is going to | :07:00. | :07:03. | |
suffer? I don't think anyone will suffer. Everyone for now, who had | :07:04. | :07:09. | |
held onto Bitcoin until yesterday, they now have two crypto currencies. | :07:10. | :07:17. | |
They can decide whether they want to keep them or whether they want to | :07:18. | :07:22. | |
sell them, whether they believe in the new currency more. So, all of us | :07:23. | :07:30. | |
can start focusing on what the market is indicating and which | :07:31. | :07:40. | |
directions we want to go in. India's central bank is meeting later today | :07:41. | :07:43. | |
to decide on interest rates, the biggest question is whether there | :07:44. | :07:47. | |
will be a part in how low inflation is at the moment. It fell to 1.5% in | :07:48. | :07:53. | |
June, the lowest in five years. That is well below the central bank's | :07:54. | :07:59. | |
target of 4%. Rates have been steady at 6.25% for the last four meetings. | :08:00. | :08:06. | |
More needs to be done to stop women from feeling the pressure to wear | :08:07. | :08:14. | |
these shoes. This is according to the most thorough scientific study | :08:15. | :08:20. | |
into these shoes. They examined the physical damage that wearing high | :08:21. | :08:23. | |
heels can cause. Let's take a look. Oh dear, I might have to switch to | :08:24. | :09:39. | |
flat shoes. And time to take a look at where the Asian markets are | :09:40. | :09:46. | |
trading. We saw it down as much as 3%, which has renewed worries of | :09:47. | :09:53. | |
oversupply. They have kept up the pace of production despite promising | :09:54. | :09:59. | |
to cut output next year. And a quick look at the equity markets that have | :10:00. | :10:13. | |
just opened here in Asia. The nikkei has opened higher, thanks to Wall | :10:14. | :10:18. | |
Street. This is due to strong corporate earnings. Apple had some | :10:19. | :10:21. | |
very strong results, that is bolstering confidence in the global | :10:22. | :10:28. | |
economy. And that's it for this edition of Asia Business Report. | :10:29. | :10:29. | |
Thank you for watching. Venezuela is facing | :10:30. | :10:37. | |
international condemnation after the arrest of two | :10:38. | :10:41. | |
opposition leaders. | :10:42. | :10:48. |