24/10/2017 Asia Business Report

China's Communist Party congress comes to an end

with President Xi Jingping exerting a tighter control on power.

The President is expected to consolidate his position

for another five year term and is set to become

the most powerful leader of the country in decades.

New York prosecutors are investigating the company

co-founded by Harvey Weinstein following multiple allegations

of sexual assault against the Hollywood producer.

And this story is popular on BBC.com...

The Portuguese footballer Cristiano Ronaldo has won the Fifa

men's Player of the Year award for the second year in a row.

And Lieke Martens claimed the women's player award

after inspiring Holland to victory on home soil at Euro 2017.

Theresa May has told MPs that there is a "new momentum"

in the Brexit negotiations and what she called a "willingness

For Labour, Jeremy Corbyn said the Brexit talks had reached

an impasse because of divisions within the Cabinet.

Now on BBC News all the latest business news live from Singapore.

A former hate just be trader is found guilty of fraud in $3.5

billion currency deal. We check out how the shopping with science and

the customers the guinea pigs. Good morning Asia, hello word. It is

Tuesday and glad you could join us. We start off in the US and according

to New York, they have found a former HSBC traded guilty in

defrauding a $3.5 billion currency deal in 2011. Mark Johnson has been

accused of exploiting confidential information. Joining us is our

business reporter, Monica Miller. This court case is being closely

watched in the financial community? Absolutely, it took the jury in

Brooklyn two and a half days to find him guilty of defrauding his clients

in 2011. What prosecutors argued is Johnson, with his colleagues at

HSBC, inflated sterling right before they converted three and a half

billion dollars into sterling and what he got in return was $7 million

in profit for the bank. Prosecutors used audio recordings and probably

the most incriminating one they had was one of him saying, I think we

got away with it. Johnson's lawyer says his client is innocent and his

words were taken out of context. Monaco, what makes this case so

unusual because banks for many years have been known to manipulate the

currency markets? You are right, but what makes this case difference is

they went after an individual and he went on trial in the US. Johnson, he

could potentially get 20 years in prison when he is sentenced later

this year. This is the beginning of a larger case. The US Justice

Department worked with UK officials in looking into a huge, global the

nippy Laois and of foreign currencies. They are looking at

Stuart Scott, another colleague, who left HSBC bank in 2014 but is now

fighting extradition to the US. This is something we should be watching

over the next days and weeks. Moving to other news, the US commerce

Department is levying preliminary anti-dumping duties on bio diesel

from Argentina and Indonesia. The fuel has arrived from animal or

vegetable fat. It is rated at 70%. A final decision will be reached in

early November. China's biggest online publishing company is looking

to raise $1 billion through additional public offering. China

literature, plans to list in Hong Kong next month. They posted a

profit of $6.4 million last year after previously losing money.

German car-makers has had their premises searched by European

officials as part of an investigation into possible cartel

behaviour. BMW were raided last week by anti-trust investigators. They

are looking into allegations that the German car industry colluded on

technology and diesel prices for decades. Singapore has placed a in

car ownership preventing citizens from buying new vehicles until this

policy is reviewed again in 2020. The transport authority says the

lack of available land and funds in public transport justified this new

policy. Singapore has more than 5.6 million people, but just 600,000

cars. Meanwhile, 12 major cities around the world including London

and LA have said they will only buy zero emission buses starting in

2025, the decision is part of efforts by municipal governments to

fight climate change. But beyond government policy, how can the

private sector play a role? Earlier I pose the question to the former

president of Costa Rica, who now has a think tank devoted to finding

business solutions to environmental problems. More businesses are

understanding that reducing carbon emissions is also a contributing to

the bottom line of their business. You look at that, mainly in the

energy sector but other sectors as well. Have you got any examples?

Shipping. You have 50,000 ships are patrolling the oceans. They go up in

a dry dock every five years. If you take that opportunity to invest

2,000,006 or eight technologies, you roll them off from the dry dock

consuming 20% less fuel which goes directly to the bottom line and 20%

less emissions. It is easier said than done because a lot of

businesses are saying to reduce carbon emissions is also heavy on

the pocket. It is capital intensive. To start any business you are

required to do some investment. Transition to a low carbon economy,

providing jobs as we do it and creating new business models is all

in line with reducing carbon emissions. This is the great

opportunity of humanity to reinvent ourselves along a different, cleaner

economy. As a former head of state of Costa Rica, how important is that

governments get on board, not just for policy but also to incentivise

the private sector? Governments have two responsibilities. One is sending

the correct signals to markets, in terms of where we want to go with

the Green economy and the other one is becoming an example, governments

purchase, they can purchase green. Governments can bring out regulation

and good quality policy. That is what good governance is all about.

That is what is required as a complement to the investment of the

private sector. But governments may have policies, but it is also about

implementation and political will. Do governments have that right now?

More and more you are seeing that and you had shining examples of that

in Asia. What China is doing is absolutely incredible. What India is

now doing, even beyond what they had to do, is frankly, breathtaking. The

former president of Costa Rica and now, with the carbon War room.

Whether you view shopping as a passion or a punishment, did you

ever think the items you buy are influenced by subconscious queues.

It is something retailers and companies are keen to find out. We

went to a shopper 's science lab equipped with state-of-the-art

technology. We are in something of a shopper science lab, it looks like a

regular store but it is a mock-up. It has been set up by consumer

health. Tell us about why you have set this up? This facility is a

place where we intend to work with both shoppers and retail partners to

help understand how, when shoppers walk into a shop like this, how do

they navigate and interact with the category, how they look at brands.

You are in the Asia Pacific reason for the first time and we will see a

typically Asian store. Where is this from? This is intended to reflect

the store in a place like India, where in like some of the other

countries you have smaller formats, more clutter and more dimly lit. The

way shoppers interact with the brand and the category could be different

from the way they do in a typical modern trading environment. You said

her shoppers interact, how do you monitor that? What you see is new

technology that we have, which is I tracking. I will demonstrate this by

putting on these glasses and looking around the shelves. It is all about

product placement? When you wear these glasses and sharp doing the

shopping mission, we can understand at what sequence and where you are

looking. What do you do with a wall like this specifically when it comes

to product placement? This is a digital wall where you can move

products and brands around from one shelf to another and finally arrive

at an optimal placement for all brands which can help enhance retail

value and like I said, make the whole shopping seamless and painless

for the consumers walking into that store. We have just left the science

lab because the reality is, customers are shopping online. So

tell us, how are you tracking that? The camera in front of me has

calibrated my eyes in a way where the Orange. You see on the monitor

to your left is how I am looking and where my gaze is going. Using this

research data, we can understand how to optimise and mobile commerce

site, where do we placed the brands, how do we get them to navigate the

whole store online better. So basically to determine how customers

shop. Thank you for showing us. And the science of shopping in the

markets, it could be volatile for Asia this Tuesday after US stocks

were down in the technical and industrial sectors.

Thank you for your time. Sport Today is coming up next.

The final day of China's 19th party congress is taking place in Beijing,

with President Xi Jinping looking set to be confirmed as China's most