0:00:00 > 0:00:00at Grenfell Tower, in west London, in June.
0:00:00 > 0:00:05Officers say 71 victims have been formally identified.
0:00:05 > 0:00:11Now on BBC News, all the latest business news live from Singapore.
0:00:16 > 0:00:23Tesla is about to roll out the beast: An electric tractor trailer.
0:00:23 > 0:00:28This as China's appetite for green wheels gets bigger and bigger. And a
0:00:28 > 0:00:33global employee left his job to set up a proper restaurant in his very
0:00:33 > 0:00:44own living room. -- Mad Hatter. Welcome to Asia Business Report,
0:00:44 > 0:00:48live from Singapore, with me, Mariko Oi. In a few hours, Telstra will be
0:00:48 > 0:00:53running out its latest creation, the beast. It is a big rig truck that
0:00:53 > 0:01:03may be able to drive itself. --. Each -- is the Chief Executive Elon
0:01:03 > 0:01:12Musk tweeted this... More on the story, let's bring in mat Morrison.
0:01:12 > 0:01:16I want that, right now.It is uncool. It is uncool. The guy sounds
0:01:16 > 0:01:24cool. -- Matt. He will be watching this latest version of the
0:01:24 > 0:01:30electronic truck that they are very excited about. Their goal here is
0:01:30 > 0:01:34basically to get a cleaner and hopefully cheaper alternative to
0:01:34 > 0:01:37what is out there. They are saying batteries could be a big advantage
0:01:37 > 0:01:42in that regard. The batteries are expensive. The most expensive
0:01:42 > 0:01:45component of the tow vehicle. A lone, it would be about $100,000,
0:01:45 > 0:01:52and that is just the battery. You can get far with just the battery.
0:01:52 > 0:01:57And you need infrastructure so that you can make stops, so you can make
0:01:57 > 0:02:01you fancy lightly, apparently. So who were paper that? The government?
0:02:01 > 0:02:09Tesla? Nobody knows. -- The Beast. Their model three is behind
0:02:09 > 0:02:11schedule. They are cutting back production. They are spending about
0:02:11 > 0:02:16$1 billion to keep things moving. One analyst we spoke to says that
0:02:16 > 0:02:21Tesla are all about disruption. China has been active in electrics,
0:02:21 > 0:02:24and it would be a strong market moving forward, especially coming to
0:02:24 > 0:02:28buses and trucks.What you think? Is at a wise move? As you say, they
0:02:28 > 0:02:33have not rolled out an affordable car?Analysts are saying it is a big
0:02:33 > 0:02:38risk. A lot of it will come from how far these things can go on a single
0:02:38 > 0:02:41charge. Analysts are putting it between 200 miles of charge to 400
0:02:41 > 0:02:45miles of charge. That is still quite a bit less than your standard diesel
0:02:45 > 0:02:51which, on a single can go up to about 1000 miles. You need a human
0:02:51 > 0:02:57being to be doing that, though. And, later need the latte.Thank you for
0:02:57 > 0:03:02that, Matt Morrison, and we will be at the launch as Tesla releases the
0:03:02 > 0:03:07Beast. Chinese emissions are quite high. They are already the biggest
0:03:07 > 0:03:17market for a electric cars. The is more room for growth. Beijing says
0:03:17 > 0:03:21that 80% of new cars need to be elected by next year. That is
0:03:21 > 0:03:28supposed to to 12% by 3020. That is prompted people to increase their
0:03:28 > 0:03:29investment in China. --
0:03:34 > 0:03:39-- 2020. Apparently they are not just interested in cars, but buses
0:03:39 > 0:03:44and trucks as well.They have the best business visibly possible. Our
0:03:44 > 0:03:49study suggested the are about 100 cities where these buses are being
0:03:49 > 0:03:53tested. The customers tend to be the public services, where they do not
0:03:53 > 0:03:57really, they have a social mandate to more than a business mandate.
0:03:57 > 0:04:02That is where the ship does make sense.We have been talking about
0:04:02 > 0:04:08the man. How is China placed when it comes to manufacturing? -- that is
0:04:08 > 0:04:20where these buses to make sent to make sense.They have a reason to do
0:04:20 > 0:04:25it. The pollution problem is going out of control. The only way to
0:04:25 > 0:04:31solve the pollution challenge in major cities is to electric. So the
0:04:31 > 0:04:35reasoning competency, so this is the only right way to move forward.In
0:04:35 > 0:04:38other business news, Singapore has suspended all trade relations with
0:04:38 > 0:04:43North Korea after the UN imposed tougher sanctions over its weapons
0:04:43 > 0:04:47programme. The Southeast Asian country is not's seventh-largest
0:04:47 > 0:04:53trading partner, and, year, Singapore -based Chinpo shipping
0:04:53 > 0:05:01company was fined for helping shift to make ship arms to North Korea, is
0:05:01 > 0:05:07by the stations. The recent hike as it is season has held them up.
0:05:07 > 0:05:15Building materials, grocery items, as well as stocks. They have
0:05:15 > 0:05:19improved their forecast for holiday shopping. It was the strong sterling
0:05:19 > 0:05:24since 2009, despite competition from online giant Amazon on. Their stock
0:05:24 > 0:05:30rose nearly 11% to an all-time high. As politicians in the House of
0:05:30 > 0:05:36Representatives have voted to pass a sweeping tax reform Bill.
0:05:36 > 0:05:40Republicans, including Donald Trump, have claimed that the changes will
0:05:40 > 0:05:44boost the economy. A separate change change the tax code is expected to
0:05:44 > 0:05:50to the Senate for December.For any change to come into effect, or size
0:05:50 > 0:05:55would have to agree. Taxes. Americans do not like paying them.
0:05:55 > 0:05:59And most agree that the tax system is broken, but fixing it, well, that
0:05:59 > 0:06:04is not easy. The president says he wants a tax code that is so simple,
0:06:04 > 0:06:09you could file it on a postcard. The Republican Party has control of the
0:06:09 > 0:06:14US Congress, and that means they could pass a new tax plan with just
0:06:14 > 0:06:18a simple majority.If there is anything that unifies Republicans,
0:06:18 > 0:06:28it is tax reform. We've been looking forward the opportunity to do this
0:06:28 > 0:06:31were years.The problem? Republicans cannot even agree on a tax plan
0:06:31 > 0:06:34amongst themselves. Lawmakers in the house want to cut the number tax
0:06:34 > 0:06:38bracket as to four and right at the make out how much people can write
0:06:38 > 0:06:45for having a mortgage. The tax plan reduces tack if the buy health
0:06:45 > 0:06:48insurers. That could mean that 15 million Americans could end up
0:06:48 > 0:06:52without coverage. And that also makes cuts to the corporate tax rate
0:06:52 > 0:06:55permanent. The tax relief are individuals, well, that is
0:06:55 > 0:06:59temporary. So what do they do now? Republicans in the house and Senate
0:06:59 > 0:07:04will just how to combine their two plans. But if the last two months
0:07:04 > 0:07:11are any indication, that will not be easy. Now, one place that will be
0:07:11 > 0:07:15watching the fight really closely is the US stock market. It goes up when
0:07:15 > 0:07:20tax reform might actually happen and falls when those plans hit a
0:07:20 > 0:07:24roadblock. So if Donald Trump wants to keep bragging about the rising
0:07:24 > 0:07:28stock market...The stock market hit an all-time record high today, over
0:07:28 > 0:07:3422,000...And keep his promise to reporters, then his party will have
0:07:34 > 0:07:39two come to agreement. Before we go, what you think would compel somebody
0:07:39 > 0:07:46to give up a job Google to sell surmises? For one man, it was the
0:07:46 > 0:07:53opportunity to sell his culture's delicacies from the cupboard of his
0:07:53 > 0:08:04own home. -- samosas.I wanted to prepare and cell samosas. I am
0:08:04 > 0:08:14taking food from my community. It is a community of within Islam. It is a
0:08:14 > 0:08:19small subset and we have a defined food and dining culture. I want to
0:08:19 > 0:08:21take this food to people outside the community.
0:08:27 > 0:08:30Hi guys and welcome.
0:08:37 > 0:08:42We would invite six people or eight people home every Saturday or
0:08:42 > 0:08:48Sunday, and take them to this idea from eating the food of my Mum, to
0:08:48 > 0:09:06the entire concept behind it. That is the idea behind our kitchen.I
0:09:06 > 0:09:13always used to be at home doing those things. Today, I like cooking
0:09:13 > 0:09:21just with the regular means of homes. Now I am getting older, it is
0:09:21 > 0:09:35definitely, you know, it is a different side of me.I introduced
0:09:35 > 0:09:42something of a policy that basically you don't book a seat, you asked
0:09:42 > 0:09:49receipt. If you asked receipt, we do a background check, asked who you
0:09:49 > 0:09:55are, to out due diligence. So by doing all of these things, it became
0:09:55 > 0:10:00this hyper exclusive thing and demand became stronger and stronger.
0:10:04 > 0:10:08That pop actually the market before we go. The Nikkei is higher despite
0:10:08 > 0:10:13the strong yet which is bad news for exporters. Hong Kong and Australia
0:10:13 > 0:10:16are rising overnight. Overnight, we told you about Walmart shares being
0:10:16 > 0:10:22up by 11%. Tech shares did quite well. They are driving Wall Street
0:10:22 > 0:10:26high. Investors have been monitoring the tax bill as well. That is it for
0:10:26 > 0:10:29this edition of Asia Business Report. Sport Today is coming up
0:10:29 > 0:10:32next. And people watching.