0:00:00 > 0:00:02Scotland Yard has announced it is reviewing dozens of other
0:00:02 > 0:00:07cases which are about to go to court.
0:00:07 > 0:00:12Stay with us, more to come, but first, a here is Rico Hizon and Asia
0:00:12 > 0:00:21Business Report. The worst passes its biggest overhaul the tax code in
0:00:21 > 0:00:25three decades. It a victory for Trump, but what does that mean the
0:00:25 > 0:00:31Asian? -- it is. And we hit the road to the future and find out which
0:00:31 > 0:00:34companies are leading the driverless car race.
0:00:36 > 0:00:43Good morning, Asia. Hello, world.
0:00:43 > 0:00:47Is a Thursday, glad you could join us for another edition of Asia
0:00:47 > 0:00:53Business Report. I am Rico Hizon. It is four days before Christmas. We
0:00:53 > 0:00:57start off with the US and is President Trump has filled his first
0:00:57 > 0:01:02major legislative win as lawmakers passed sweeping overhaul to the tax
0:01:02 > 0:01:08code. It is the biggest change in more than three decades, he sent out
0:01:08 > 0:01:13his reaction to the news with this festive animated tweet.
0:01:17 > 0:01:21Republicans say it is a win for corporations and will boost growth,
0:01:21 > 0:01:26while Democrats, who oppose the plan, said it will blow out the
0:01:26 > 0:01:30national deficit. What will this new tax on all been naughty or nice for
0:01:30 > 0:01:35Asia? And economists said it could have a major impact on the region if
0:01:35 > 0:01:42US firms close up shop and move jobs back home.Obviously, being positive
0:01:42 > 0:01:46for Asia is the boost to growth in the US, which will obviously relate
0:01:46 > 0:01:50to increased demand in Asia for exports, so that is the big
0:01:50 > 0:01:55positive. But yes, the corporate tax rate has gone down dramatically in
0:01:55 > 0:01:59the US and overtime, if those countries do not get their tax rates
0:01:59 > 0:02:03down as well and are above the US, we may see some corporate to
0:02:03 > 0:02:09relocate back to the US.But you already have competitive tax rates,
0:02:09 > 0:02:12particularly in Singapore, Malaysia, Hong Kong, some major Asian hubs.
0:02:12 > 0:02:19Will this US tax plan pressure on Asian central banks to raise tax
0:02:19 > 0:02:25rates?I don't think so, I would not be particularly concerned about
0:02:25 > 0:02:29that. I think progress is going to be very gradual, yes, it will
0:02:29 > 0:02:32increase the pressure on the US to raise interest rates. Obviously,
0:02:32 > 0:02:40that means the Hong Kong authorities will have to follow suit, it is not
0:02:40 > 0:02:43particularly clear which way that will go. I think if anything,
0:02:43 > 0:02:47interest rate will remain up but not dramatically more so than would have
0:02:47 > 0:02:52been the case without this.Shane Oliver in Sydney. About suffering a
0:02:52 > 0:02:57major blow at the hands of the European Union's top court. The
0:02:57 > 0:03:00decision being closely watched around the world, it has ruled
0:03:00 > 0:03:04Silicon Valley start-up is an ordinary transportation company and
0:03:04 > 0:03:11should be regulated as such. For more on this issue, I'm joined now
0:03:11 > 0:03:17by my colleague and fellow business reporter.Ever is actually
0:03:17 > 0:03:21downplaying the ruling, saying it is not going to make much of a
0:03:21 > 0:03:24difference to their current operations, given they already
0:03:24 > 0:03:29comply with local transport regulations. At this case was first
0:03:29 > 0:03:32brought by Barcelona, the taxi drivers's Association there was
0:03:32 > 0:03:37complaining that it works was putting on fair competition and that
0:03:37 > 0:03:40unlicensed drivers were allowed to basically take on these jobs that
0:03:40 > 0:03:45Uber and not pay taxes, compared to them. The ruling may influence
0:03:45 > 0:03:49something else, and that is the big economy, this is something that was
0:03:49 > 0:03:54really brought about by technology firms like Uber, Airbnb, they hire
0:03:54 > 0:03:59workers on short-term contracts, so-called gigs and so, it may
0:03:59 > 0:04:03actually set a precedent for how regulators look at these companies
0:04:03 > 0:04:07going forward. Experts who say that so far, regulators all over the
0:04:07 > 0:04:12world have been slow to update laws to cope with digital disrupters,
0:04:12 > 0:04:16with innovation and other online platforms that have come onto the
0:04:16 > 0:04:21market.The new Uber CEO has already many problems, another one has been
0:04:21 > 0:04:27put on his plate.Absolutely, he inherited a troubled company that
0:04:27 > 0:04:31has several scandals, that forced its previous CEO, Travis Kalanick,
0:04:31 > 0:04:41to step down. I cannot remember his last name, but he is now travelling
0:04:41 > 0:04:46around Europe.It is a bit of a tongue twister, his last name.He is
0:04:46 > 0:04:55now travelling around Europe. The new grey is from Orbit, and other
0:04:55 > 0:05:02travel sites, and together they will try to turn around. -- the new Chief
0:05:02 > 0:05:06financial officer.Another challenging year for Uber, thank you
0:05:06 > 0:05:11so much my colleague and fellow business reporter. Switching gears
0:05:11 > 0:05:15now to interview special, and today we are taking a look at driverless
0:05:15 > 0:05:19cars. As companies all over the world are delivering autonomous
0:05:19 > 0:05:32vehicles, just how far are we from blowing away those khakis for good?
0:05:32 > 0:05:36-- throwing away those car keys for good?
0:06:27 > 0:06:32I am going to try one next year, if it is on the streets of Singapore.
0:06:32 > 0:06:39Recently, Dubai has impressed the world by adopting flying drone
0:06:39 > 0:06:43taxis, and it has brought the city a lot of publicity as it tries to
0:06:43 > 0:06:48brand itself as a global technology hub. At what are all of these
0:06:48 > 0:06:51gadgets for?
0:06:51 > 0:06:52-- but.
0:07:11 > 0:07:15There is a lot of opportunities for start-ups to start their business
0:07:15 > 0:07:21here and grow, and technology will be at the forefront because of the
0:07:21 > 0:07:25drive of the government to be ten times faster than what is happening
0:07:25 > 0:07:26now.
0:07:39 > 0:07:46For us, it was a great launching platform from Dubai to the world,
0:07:46 > 0:07:50and we are developing this technology not just for you by and
0:07:50 > 0:07:55the region, but for the world.
0:07:55 > 0:07:56-- Dubai.
0:08:01 > 0:08:08It is the holiday season, it is the perfect time for curling up on the
0:08:08 > 0:08:12sofa and binge watching some of your favourite programmes. According to
0:08:12 > 0:08:18Netflix, he was consumed 140 million hours of programming per day for a
0:08:18 > 0:08:26whopping 1 billion hours per week over the past year. -- or a. The
0:08:26 > 0:08:33most binge watched show, or as you call it the most watched programme
0:08:33 > 0:08:39over two hours at a time, was American Vandal in the US, whereas
0:08:39 > 0:08:50here in Singapore, it was a Korean drama which had viewers's boat.
0:08:50 > 0:08:57Earlier, I spoke with Jessica Lee of Netflix and a ask her if she is
0:08:57 > 0:09:00concerned about the company's future.I think there are a few
0:09:00 > 0:09:08things to remember. There are things that are still going to be on our
0:09:08 > 0:09:12library for a few years, and at the end of the day, we are delighted
0:09:12 > 0:09:16that people are continuing to look at more streaming platforms, as a
0:09:16 > 0:09:19platform that you need to be on, because more people that stream and
0:09:19 > 0:09:24use video on demand, it is better for us because that habit is
0:09:24 > 0:09:27growing, and that is the reason can she getting to the high number of
0:09:27 > 0:09:32hours that we have. And really, people love streaming because it is
0:09:32 > 0:09:41about being in control, watching when you want to watch.With Amazon
0:09:41 > 0:09:45coming in and Hulu, that will basically cut your marketshare.I
0:09:45 > 0:09:52think that he used to watch TV, you had Channel Five, BBC and
0:09:52 > 0:09:56everything, now you have different streaming platforms. At the end of
0:09:56 > 0:09:59the day, it is good that we are different streaming channels, good
0:09:59 > 0:10:03for the consumer.Let's have a look now at the regional market,
0:10:03 > 0:10:14currently lacklustre, mostly in negative territory. Investors are
0:10:14 > 0:10:19taking profits after the US fell into negative territory. Overnight,
0:10:19 > 0:10:24and at the holiday season, the Dow Jones lower by eight on the NASDAQ
0:10:24 > 0:10:28giving back about three points. Thank you so much for investing your
0:10:28 > 0:10:31time with us. Have a wonderful Christmas,