Browse content similar to 12/12/2017. Check below for episodes and series from the same categories and more!
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This is BBC News. | 0:00:14 | 0:00:15 | |
Our top story: New York's mayor says
a bomb explosion next to the city's | 0:00:15 | 0:00:19 | |
main bus station was
an attempted, terrorist attack. | 0:00:19 | 0:00:21 | |
The suspected attacker is currently
in police custody and has been named | 0:00:21 | 0:00:24 | |
as 27-year-old Akayed Ullah
who moved to the US from Bangladesh. | 0:00:24 | 0:00:27 | |
He suffered burns from the crude
pipe-bomb strapped to his body. | 0:00:27 | 0:00:31 | |
Three women who accused
President Trump of sexual | 0:00:31 | 0:00:33 | |
misconduct, alleging he groped,
kissed, and harassed them, | 0:00:34 | 0:00:36 | |
have demanded
a congressional inquiry. | 0:00:37 | 0:00:39 | |
The White House says
their claims are false. | 0:00:39 | 0:00:42 | |
And this video is
trending on bbc.com. | 0:00:42 | 0:00:47 | |
The fairytale romance,
The Shape of Water, leads | 0:00:47 | 0:00:49 | |
nominations for the 2018
Golden Globe awards. | 0:00:49 | 0:00:52 | |
It's picked up seven nominations. | 0:00:52 | 0:00:58 | |
It could set the stage for the
winners at the Oscars in March. More | 0:00:58 | 0:01:02 | |
to come on BBC News. | 0:01:02 | 0:01:09 | |
And the top story here in the UK: | 0:01:09 | 0:01:11 | |
Detectives are questioning five
people in connection | 0:01:11 | 0:01:13 | |
with the suspected murder of three
children in a fire at a house | 0:01:13 | 0:01:17 | |
in Greater Manchester. | 0:01:17 | 0:01:23 | |
More to come. First we catch up with
the business news. | 0:01:23 | 0:01:28 | |
The US central bank starts its last
meeting for the year with economists | 0:01:36 | 0:01:40 | |
widely expecting a rate rise. And
what has gone wrong. We find out why | 0:01:40 | 0:01:47 | |
are the wheels have come off like
sharing services in Australia. Good | 0:01:47 | 0:01:59 | |
morning, eight, hello, world. It is
a Tuesday. Glad you could join us | 0:01:59 | 0:02:03 | |
for Asia Business Report. I am Rico
Hizon. We start with US central bank | 0:02:03 | 0:02:08 | |
and the Federal reserve starts its
first policy -- last policy meeting | 0:02:08 | 0:02:11 | |
for year. Economists have been
anticipating a rate hike for months | 0:02:11 | 0:02:16 | |
now. Let us put this into context.
Nine years ago, 2008, the cost of | 0:02:16 | 0:02:22 | |
borrowing was cut to effectively
zero in response to the global | 0:02:22 | 0:02:27 | |
financial turmoil. It remained there
for seven years until two years ago | 0:02:27 | 0:02:30 | |
when it was raised by a quarter of a
point. Since then we have seen three | 0:02:30 | 0:02:35 | |
rate rises as the US economy has
recovered. Earlier I spoke to the | 0:02:35 | 0:02:39 | |
age and chief economist, and asked
if a rate hike is a done deal. I | 0:02:39 | 0:02:46 | |
think it is almost a done deal that
they will hike tomorrow. It is all | 0:02:46 | 0:02:50 | |
is completely priced into the
market. It will be a big surprise if | 0:02:50 | 0:02:55 | |
they did not hike. What if they hold
that, what would be the reason? It | 0:02:55 | 0:02:59 | |
is hard to think of one. Their
guidance has been so strong to | 0:02:59 | 0:03:03 | |
suggest that they will hike in
December. The data has been strong. | 0:03:03 | 0:03:11 | |
It is hard to really think, at this
point, why they would want to delay | 0:03:11 | 0:03:16 | |
it a month. The reason to do it in
this month is, in December, compared | 0:03:16 | 0:03:20 | |
to January, December they have a new
economic forecasts and Jenny Hill | 0:03:20 | 0:03:31 | |
will have -- Yellen will have a
statement. What will this have, in | 0:03:31 | 0:03:38 | |
fact -- impact wise? So far Asia has
largely been decoupling from this | 0:03:38 | 0:03:49 | |
thread hiking cycle. Will this put
pressure on Asia central banks? I | 0:03:49 | 0:03:53 | |
think it is starting to put more
pressure. We feel that as we get | 0:03:53 | 0:03:57 | |
into next year we will see more
central banks hiking. The next one | 0:03:57 | 0:04:00 | |
we think to hike will be Malaysia's
Central Bank, hiking in January. | 0:04:00 | 0:04:07 | |
Much more important than this Fed
rate hike will be the FOMC dots. At | 0:04:07 | 0:04:22 | |
the moment they are forecasting
three hikes. If they provides update | 0:04:22 | 0:04:26 | |
dots, it might mean that FOMC will
forecast four rate hikes. The market | 0:04:26 | 0:04:33 | |
expects only two. If they are
looking at three or four rate hikes | 0:04:33 | 0:04:40 | |
in 2018, what impact could it have
on the US economy and on Asia? The | 0:04:40 | 0:04:45 | |
US economy is very strong. Now we
get the fiscal expansion. This is | 0:04:45 | 0:04:50 | |
really needed to stop the US economy
overheating. It is good for the US | 0:04:50 | 0:04:55 | |
economy to avoid too much froth and
access. For Asia, I think this | 0:04:55 | 0:05:04 | |
tightening of US monetary policy
could put some pressure on Asian | 0:05:04 | 0:05:08 | |
chorus -- currencies to weaken over
time. Over the course of next you, | 0:05:08 | 0:05:13 | |
it will put pressure on Asian
central banks to start following the | 0:05:13 | 0:05:18 | |
Fed. This year has seen many
prominent cyber-attacks, everything | 0:05:18 | 0:05:22 | |
from the breach of French President
Macron's campaign e-mails, the theft | 0:05:22 | 0:05:28 | |
of personal details from Equifax,
could 2018 Osi new threats, | 0:05:28 | 0:05:34 | |
especially as the Internet grows in
cryptocurrencies like the Queen? I | 0:05:34 | 0:05:37 | |
put it to Bryce Bowden from Fire
ice. Criminals always fire that | 0:05:37 | 0:05:44 | |
might follow the money. We have seen
bitcoins skyrocketing. Criminals are | 0:05:44 | 0:05:50 | |
starting to focus, turned their
attention to dealing the point -- | 0:05:50 | 0:05:55 | |
Bitcoin from the currency exchanges.
Everyone would say this before the | 0:05:55 | 0:06:02 | |
cryptocurrency became popular and we
saw some countries starting to | 0:06:02 | 0:06:05 | |
regulate its trading, even in Jamie
Dimon from JPMorgan said in | 0:06:05 | 0:06:10 | |
September it was a fraud. Now is
saying that only if controlled and | 0:06:10 | 0:06:15 | |
properly regulated that we could see
more support for bitcoin. There is a | 0:06:15 | 0:06:20 | |
lot of support today. The reality
is, from eight criminal perspective, | 0:06:20 | 0:06:24 | |
it creates a huge amount of
opportunity. Not only can you create | 0:06:24 | 0:06:28 | |
extortion a massive scale, you can
create that in such a way that | 0:06:28 | 0:06:32 | |
enables you to hide the traceability
of the funds. That means the police | 0:06:32 | 0:06:39 | |
and law enforcement organisations
really struggle. Is already a | 0:06:39 | 0:06:43 | |
problem you see in terms of trading
the cryptocurrencies and the | 0:06:43 | 0:06:48 | |
Bitcoins? Are we seeing a cyber
security issues? The reality is the | 0:06:48 | 0:06:54 | |
financial organisations that are
providing those exchanges are not | 0:06:54 | 0:06:57 | |
yet at the level of security and
liquidity and accountability with | 0:06:57 | 0:07:03 | |
the traditional organisations. It is
just data after all. The safeguards | 0:07:03 | 0:07:07 | |
are not as well designed and built
as we seek in the traditional | 0:07:07 | 0:07:11 | |
markets. Yes, there is a lot of risk
there. I think that will come out | 0:07:11 | 0:07:15 | |
over the next few months. Like
sharing services have done pretty | 0:07:15 | 0:07:21 | |
well in countries like China and
Singapore. But in Australia it is | 0:07:21 | 0:07:25 | |
another story. They are facing
complaints about bicycles on the | 0:07:25 | 0:07:30 | |
street and piling up on the beaches.
Will Australia's ever embrace the | 0:07:30 | 0:07:34 | |
system? Let us find out. --
Australians. | 0:07:34 | 0:07:41 | |
They are just lying down randomly
all over the place. I think it is a | 0:07:56 | 0:08:01 | |
good idea. I do not know if it will
work. People have their old bikes | 0:08:01 | 0:08:05 | |
that they write. People are trolling
the system. | 0:08:05 | 0:08:11 | |
They are parked where ever they are
left. Often pushed over on the side | 0:08:29 | 0:08:33 | |
of the row, in the gutter. They are
a major issue, they are | 0:08:33 | 0:08:36 | |
uncontrolled, they need to operate
in a better way. | 0:08:36 | 0:08:40 | |
Based on experience from other
countries, it would normally take 6- | 0:08:56 | 0:09:00 | |
12 months for people to get used to
it or to get an understanding of | 0:09:00 | 0:09:04 | |
that and enjoy the service. You get
the service itself, after all. After | 0:09:04 | 0:09:08 | |
that it is convenient for people, it
is healthier, green. A lot of people | 0:09:08 | 0:09:12 | |
don't understand. | 0:09:12 | 0:09:15 | |
Here in Singapore, we are starting
to share not just bicycles, but also | 0:09:24 | 0:09:28 | |
electric cars. There is a service
that 80 electric cars and 100 | 0:09:28 | 0:09:35 | |
charging points across the island
this afternoon. We found out more | 0:09:35 | 0:09:41 | |
about these electric car vehicles.
What do they show? That is right. We | 0:09:41 | 0:09:45 | |
were on the side of a fairly quiet
street in Singapore were two of | 0:09:45 | 0:09:49 | |
these cars parked on the side of the
street. They were being charged. But | 0:09:49 | 0:09:53 | |
they looked kind of lonely. The did
not look like much if you look at | 0:09:53 | 0:09:57 | |
the footage. No-one tried to drive
them? No, they are technically open | 0:09:57 | 0:10:01 | |
later today. This firm, BlueSG, they
have ambitious plans. A fleet of 80 | 0:10:01 | 0:10:06 | |
cars now. They plan to expand to
about 1000 cars by 2020. From about | 0:10:06 | 0:10:13 | |
30 charging stations around the
island, they plan to expand that | 0:10:13 | 0:10:17 | |
number. That will put Singapore
behind Paris in terms of having the | 0:10:17 | 0:10:22 | |
largest electric car sharing scheme
in the world. I talked to be firm | 0:10:22 | 0:10:26 | |
and they said they were doing this
because they thought Singapore was a | 0:10:26 | 0:10:30 | |
good place to start in Asia, it has
great infrastructure. And we know | 0:10:30 | 0:10:33 | |
that the price of private cars, we
have them, they are exorbitant. Your | 0:10:33 | 0:10:39 | |
regular sedan costs four times more
here than it does in the US. They | 0:10:39 | 0:10:43 | |
think all of that will make it
attractive, an attractive | 0:10:43 | 0:10:48 | |
proposition for Singaporeans.
Singapore is acting as a microcosm | 0:10:48 | 0:10:50 | |
to the rest of the world. There is a
real transformation happening in the | 0:10:50 | 0:10:55 | |
transportation industry. You just
saw it in that bike sharing report. | 0:10:55 | 0:10:59 | |
You have car riding apps like Uber.
This move away from the classic | 0:10:59 | 0:11:06 | |
fossil fuels cars, many people have
said they will stop selling those | 0:11:06 | 0:11:10 | |
cars, China, Britain, France,
Norway, and Aggar Singapore as well. | 0:11:10 | 0:11:14 | |
Will you try to drive one? I am
going to try this weekend. Thank you | 0:11:14 | 0:11:19 | |
so much. My colleague on the
electric car vehicle market in | 0:11:19 | 0:11:24 | |
Singapore. Before we go, let us look
at the market and Asian stocks. | 0:11:24 | 0:11:30 | |
Could be moving sideways. As you can
see on the screens. For the Hang | 0:11:30 | 0:11:34 | |
Seng and the Australian market, this
is after Wall Street and slightly | 0:11:34 | 0:11:39 | |
higher as investors shrugged off an
explosion in Times Square that | 0:11:39 | 0:11:43 | |
resulted in a handful of injuries.
With that we end this addition of | 0:11:43 | 0:11:48 | |
Asia Business Report. Thank you so
much are investing | 0:11:48 | 0:11:51 |