0:00:14 > 0:00:15Our top story.
0:00:15 > 0:00:17An earthquake in Taiwan has killed two people,
0:00:17 > 0:00:19and injured 200.
0:00:19 > 0:00:21Emergency services continued to sift through partially destroyed
0:00:21 > 0:00:25buildings after the 6.4 magnitude quake hit.
0:00:25 > 0:00:37There are reports that South Africa's President Jacob Zuma
0:00:37 > 0:00:41could resign - if he can agree a deal with his deputy Cyril
0:00:41 > 0:00:41Ramaphosa.
0:00:41 > 0:00:44Mr Zuma has been under pressure to quit to avoid a power struggle.
0:00:45 > 0:00:46And this video is trending on bbc.com.
0:00:46 > 0:00:49The most powerful rocket in the world has blasted off,
0:00:49 > 0:00:54making a clean getaway from Florida.
0:00:54 > 0:00:57by the American entrepreneur, Elon Musk, and it's carrying
0:00:57 > 0:00:58his old sports car.
0:00:58 > 0:01:00That's all from me for now.
0:01:00 > 0:01:01Stay with BBC News.
0:01:09 > 0:01:11And our top story here in the UK:
0:01:11 > 0:01:14Former executives of Carillion have spoken publicly for the first time
0:01:14 > 0:01:17about the collapse of the firm, which went into liquidation last
0:01:17 > 0:01:22month with debts of £1.5 billion.
0:01:22 > 0:01:25And now on BBC News, all the latest business news
0:01:25 > 0:01:28live from Singapore.
0:01:36 > 0:01:39Asian stock markets surged this morning after Wall Street bounces
0:01:39 > 0:01:45back. Bowling touches down at the Singapore airshow. What deals will
0:01:45 > 0:01:47they make?
0:01:47 > 0:01:48-- Boeing.
0:01:59 > 0:02:04Good morning, Asia. Hello, world. Glad you could join us for this
0:02:04 > 0:02:08edition of Asia Business Report. I am Rico Hizon. We start off with
0:02:08 > 0:02:11Asian markets and they have opened higher after the mulch will stay on
0:02:11 > 0:02:15Wall Street, which saw the main US indices plunge for making record
0:02:15 > 0:02:22gains. Here is where things stand right now. The Nikkei is up by 3%,
0:02:22 > 0:02:32that is 660 points. The ASX All Ordinaries index is up by 1.2%, and
0:02:32 > 0:02:38the Hang Seng index, according to the futures markets, will be opening
0:02:38 > 0:02:42in positive territory. We will have the initial numbers for you in about
0:02:42 > 0:02:46five minutes's time. It is important to keep this wild ride in
0:02:46 > 0:02:51perspective over a longer period because the markets look very
0:02:51 > 0:02:57different. The Nikkei has gained 14% over the last year. Hong Kong's main
0:02:57 > 0:03:03share index, the Hang Seng, is up by 31%. Australia's all ordinaries
0:03:03 > 0:03:08index showed a 4% gain. However, there could be a lot more volatility
0:03:08 > 0:03:13in the markets, so is it a good market for retail investors?
0:03:13 > 0:03:18Earlier, I put that question to the head of trading Asia Pacific.It is
0:03:18 > 0:03:26a difficult market, there are a lot of sophisticated algorithms move in
0:03:26 > 0:03:30this market around right now. Sometimes, it is better to take
0:03:30 > 0:03:33caution and keep your cash ready, take some ships off the table.
0:03:33 > 0:03:38Ultimately, I think this market is coming back. I think this is going
0:03:38 > 0:03:42to be a short surge low and I think we could have a rebound, are quite
0:03:42 > 0:03:46significant rebound over the next few weeks. It is very difficult to
0:03:46 > 0:03:52tell right now but economics, the economic indicators are all proving
0:03:52 > 0:03:56very positive. The economies are all doing well, that could pretend that
0:03:56 > 0:04:02equity markets remain strong. Over the long run, the equity market
0:04:02 > 0:04:06should remain solid.So we should investors put their smart money
0:04:06 > 0:04:12during these times of volatility?I think it is always wise to diversify
0:04:12 > 0:04:16your portfolio. I think one of the problems we had with the equity
0:04:16 > 0:04:19markets is there was too much froth in the equity markets and perhaps
0:04:19 > 0:04:23investors were putting too much into equities and not enough into perhaps
0:04:23 > 0:04:28gold and bond hedges, I think what we are going to see is a little bit
0:04:28 > 0:04:32more even Stephen type investors going forward, we were going to take
0:04:32 > 0:04:38quite a bit more even keel here. They are going to actually balance
0:04:38 > 0:04:41their portfolios out of heavily weighted in equities, more towards
0:04:41 > 0:04:46bonds and also towards gold assets. Everyone is talking about the
0:04:46 > 0:04:50positive economic fundamentals in Asia. We saw China grow by 6.9% last
0:04:50 > 0:04:57year, we are none 6.8%. What are the risks involved in the Asian economic
0:04:57 > 0:05:02story?Obviously China is the leader here and as China moves, the rest of
0:05:02 > 0:05:09the region's economies move. I think a lot of the reform policies that
0:05:09 > 0:05:13China is putting in place should portend well but ultimately, the
0:05:13 > 0:05:17wild card in the overall argument is going to be what the US interest
0:05:17 > 0:05:21rates are going to do. This has been the biggest obstacle and the biggest
0:05:21 > 0:05:28near-term risk to our regional assets.Uber's founder and former
0:05:28 > 0:05:37chief executive Travis Kalanick has testified that his company stole
0:05:37 > 0:05:46self-driving car technology from its rival, Alphabet. Earlier, I asked
0:05:46 > 0:05:51what they hope to gain from his court appearance.What the lawyers
0:05:51 > 0:05:55are trying to do is basically suggested Travis Kalanick was at the
0:05:55 > 0:05:59centre of an orchestrated campaign to steal these secrets from Google,
0:05:59 > 0:06:03and so today when he was on the stand for the first time, day two of
0:06:03 > 0:06:07the trial and he will be back on Wednesday, the story that has been
0:06:07 > 0:06:10fiction of him is that he was meeting with the former Google
0:06:10 > 0:06:15employee while he was still at Google, it trying to create this new
0:06:15 > 0:06:18company that would later then be acquired by Hoover and form the
0:06:18 > 0:06:23basis of its self-driving division.
0:06:23 > 0:06:28-- Uber.
0:06:28 > 0:06:31In the process, Google alleges that that former employees stole 14,000
0:06:31 > 0:06:33that former employees stole 14,000 confidential documents and they
0:06:33 > 0:06:39later formed part of their technology later down the line. They
0:06:39 > 0:06:42are saying that this is the kind of character Travis Kalanick is,
0:06:42 > 0:06:48showing notes and e-mails, reportedly quoting what he was
0:06:48 > 0:06:52saying in meetings, that he wanted to get pounds of Flash is the phrase
0:06:52 > 0:06:56that he used off Google. They have not been able to show that there is
0:06:56 > 0:06:59a direct connection between those 14,000 files and what eventually
0:06:59 > 0:07:05became Uber's self-driving car technology. That is likely to come
0:07:05 > 0:07:08in Wednesday's session when Travis Kalanick will be back in court
0:07:08 > 0:07:14again.That was Dave Lee in Silicon Valley. In other business news,
0:07:14 > 0:07:17Mickey Mouse and Cinderella are helping Disney's bottomline. The
0:07:17 > 0:07:25company's quarterly profitability bit Wall Street's forecast. The
0:07:25 > 0:07:32media and entertainment conglomerate reported earnings per share of
0:07:32 > 0:07:36$1.89. That was ahead of analyst's expectations. The company has also
0:07:36 > 0:07:43announced it has hired the creators of HBO's it Game of Thrones, to
0:07:43 > 0:07:51write and produce a new series of Star Wars films. -- Game of Thrones.
0:07:51 > 0:07:55And while there are many planes and high-tech gadgets on display at the
0:07:55 > 0:07:59Singapore airshow this week, one thing that is conspicuously missing
0:07:59 > 0:08:02so far other big-ticket deals. To tell us more about this is our
0:08:02 > 0:08:06report on the ground at the Singapore airshow. Look at that jet
0:08:06 > 0:08:14engine right behind you. What are some of the big deals?Well, you're
0:08:14 > 0:08:18right. We have not really had as many major announcements this year
0:08:18 > 0:08:25as previous events. Of course, it is only day too, so let's see if we
0:08:25 > 0:08:31going to get more throughout week. It is curious though because as we
0:08:31 > 0:08:34were saying yesterday, there is this unprecedented demand for air travel
0:08:34 > 0:08:42in Asia, which means carriers do need to keep more planes. I caught
0:08:42 > 0:08:46up with someone from Boeing, I was trying to get him to break the news
0:08:46 > 0:08:53for us especially about the reports that Singapore airlines's Indian
0:08:53 > 0:08:59subsidiarity is really in talks with them to sell 60 planes right now.I
0:08:59 > 0:09:03can tell you that the market is very, very keen for the new
0:09:03 > 0:09:07airplanes. Are we talking the markets in India? Absolutely. Can I
0:09:07 > 0:09:12give you the specifics? No, they choose not to share. When we look at
0:09:12 > 0:09:16India, one of the fastest-growing markets around the world. Entire
0:09:16 > 0:09:21Asia-Pacific region is a huge market for single aisle airplanes, the
0:09:21 > 0:09:26biggest market we see moving forward.Does that mean we're really
0:09:26 > 0:09:29starting to see a shift towards smaller planes and jumbo jets like
0:09:29 > 0:09:35the A380 are pretty doomed?Know, when we look at the wider bodied
0:09:35 > 0:09:41market, it is really about larger aircraft. When we think about
0:09:41 > 0:09:53aircraft with four engines, we think about the 747. When you think about
0:09:53 > 0:09:58passenger traffic, you think about for engine airplanes crossing the
0:09:58 > 0:10:02Pacific, it is really going to be about twins in the future.Let me
0:10:02 > 0:10:05have another go at getting you to break some news for us. The
0:10:05 > 0:10:12Brazilian newspaper reporting that Boeing has presented a deal to the
0:10:12 > 0:10:21government to essentially take over and -- another aeroplane
0:10:21 > 0:10:27manufacturer's business.We'll find some way to work together in a
0:10:27 > 0:10:33tighter relationship in the future. There you go. I did at least try to
0:10:33 > 0:10:38get him to break some news for us live earlier, which I obviously
0:10:38 > 0:10:42failed to do. It was also interesting because we spoke to
0:10:42 > 0:10:47China's state owned plane maker yesterday, they are now partnering
0:10:47 > 0:10:51up with the Russians to start producing planes in the near future.
0:10:51 > 0:10:56I asked them about that and he said that he considers it to now be a
0:10:56 > 0:11:04potential threat because there is a growing demand, he thinks that
0:11:04 > 0:11:08everyone has room to grow further and potentially even a new player in
0:11:08 > 0:11:11the industry as well, so that was very interesting. Of course, they
0:11:11 > 0:11:15will be looking at the shortage of pilots as well. It is not just about
0:11:15 > 0:11:21planes and airports, but the shortage of pilots.Thank you so
0:11:21 > 0:11:26much for joining us from the Singapore airshow and hopefully more
0:11:26 > 0:11:32deals down the line because she will be at the Singapore airshow all week
0:11:32 > 0:11:35on the Asia Business Report. Let's have a look at the Asian markets,
0:11:35 > 0:11:40currently they are surging. The Nikkei up by 3%. Taking up almost
0:11:40 > 0:11:50half of what it lost yesterday. -- making. The All Ordinaries currently