0:00:00 > 0:00:02to thrash out a plan.
0:00:02 > 0:00:18Now on BBC News, all the latest business news live from Singapore.
0:00:19 > 0:00:21Trade and the Trans-Pacific Partnership are at the top of the
0:00:21 > 0:00:24agenda for the Prime Minister of Australia, Malcolm Turnbull, and his
0:00:24 > 0:00:32first visit to Washington. How valuable is one celebrity's worth?
0:00:32 > 0:00:46Snapchat is finding out the hard way as its stock falls more than 7%.
0:00:46 > 0:00:52Good morning, Asia, hello, world, it is a Friday. Thank you for joining
0:00:52 > 0:00:55Asia Business Report. We start with Malcolm Turnbull, the Prime Minister
0:00:55 > 0:01:00of Australia, meeting Donald Trump very soon at the White House. He is
0:01:00 > 0:01:08travelling with a large delegation of business leaders to boost trade.
0:01:08 > 0:01:12Australia- US trade last year rose to $34 billion. Major Australian
0:01:12 > 0:01:22exports include beef, other meats, and spacecraft. The US is the
0:01:22 > 0:01:26largest foreign investor into Australia, pumping in $672 billion
0:01:26 > 0:01:35into the economy last year to be I spoke to a professor at the
0:01:35 > 0:01:39University of Sydney, who said it is an important relationship.They are
0:01:39 > 0:01:42at the largest investor in Australia, and the largest
0:01:42 > 0:01:47destination of Australian foreign investment. It has been that way for
0:01:47 > 0:01:52decades. The role of the US is fundamental and is critical to the
0:01:52 > 0:01:56growth of Australia.It is critical to the relationship of both of these
0:01:56 > 0:02:00countries. You were part of the Trans-Pacific Partnership. Now the
0:02:00 > 0:02:09US is out of it. The revised TPP taxed has been released this week.
0:02:09 > 0:02:14Can Australia convince Donald Trump to rejoin the TPP trade group?It is
0:02:14 > 0:02:19unlikely. That does not mean the Prime Minister will not bring it up.
0:02:19 > 0:02:27The Prime Minister is also going to be the keynote speaker at the
0:02:27 > 0:02:31National Governors Association. The Prime Minister is taking a
0:02:31 > 0:02:35multifaceted approach. Speaking to Donald Trump directly and getting
0:02:35 > 0:02:43the governors on board.Joining us earlier from Sydney. Television
0:02:43 > 0:02:54reality star, Kylie Jenner, says she is "So over the social media app,
0:02:54 > 0:02:58Snapchat." While it may not seem important to some, it put investors
0:02:58 > 0:03:08into a panic. Snap stock loss $1.5 million, with its stock lowering by
0:03:08 > 0:03:167%. She said that to 24.5 million followers. Can she really be blamed?
0:03:16 > 0:03:23We explain.She tweeted yesterday at 4:50pm local time, 50 minutes after
0:03:23 > 0:03:29the markets closed. Suddenly, today, when the markets opened, it had been
0:03:29 > 0:03:36a bad day for Snap. They ended 6% down. A dramatic fall. The other
0:03:36 > 0:03:41thing that happened is that they released a report, and in that
0:03:41 > 0:03:45report they talked about the compensation the Chief Executive is
0:03:45 > 0:03:51getting. He actually gets a stocks grant of more than $600 million.
0:03:51 > 0:03:55There are some analysts who are saying it is a combination of those
0:03:55 > 0:04:01two factors, and generally, many Snapchat uses have been unhappy with
0:04:01 > 0:04:10the new update they have released on Snapchat. -- might.Justin Trudeau's
0:04:10 > 0:04:16aged a trip to India has been bumpy, politically speaking. -- eight-day.
0:04:16 > 0:04:20Indian companies have walked away with $1 billion worth of deals. Will
0:04:20 > 0:04:30it be successful? Joining me from Mumbai is our reporter. The $1
0:04:30 > 0:04:34billion, in which sector to be see the largest cooperation between the
0:04:34 > 0:04:40two countries? -- did we see.Justin Trudeau signed these deals after
0:04:40 > 0:04:44one-on-one meetings with some of the big corporate leaders here in India.
0:04:44 > 0:04:50Primarily technology companies that decided to invest. The $1 billion
0:04:50 > 0:04:59will be spread through Canada and India, not just in one or the other.
0:04:59 > 0:05:02The investment made by Indian companies will create jobs in
0:05:02 > 0:05:09Canada. But I think the real details will emerge after the trip, where
0:05:09 > 0:05:14they will give out a detailed plan as to be specific areas in which the
0:05:14 > 0:05:20Canadian companies will invest. They are looking to invest in India in a
0:05:20 > 0:05:25big way.And we will talk about trade now. Where do they agree and
0:05:25 > 0:05:31disagree, which industries and sectors?There is a huge amount of
0:05:31 > 0:05:39growth possible. India and Canada have a deep cultural Thai in terms
0:05:39 > 0:05:46of the population and influence. -- tie. Bilateral trade is only $8
0:05:46 > 0:05:52billion, unfortunately. There is a huge possibility that. Narendra Modi
0:05:52 > 0:05:57will meet Justin Trudeau in the capital. They will talk about
0:05:57 > 0:06:02infrastructure. Infrastructure is something India is looking at. A
0:06:02 > 0:06:08Canadian pension fund wants to invest in India. India wants to
0:06:08 > 0:06:12modernise infrastructure and needs $1 billion. The other issue Canada
0:06:12 > 0:06:19could raise with India is that India recently put a hefty import duty on
0:06:19 > 0:06:25products like chickpeas and beans. That is something Canada could
0:06:25 > 0:06:34raise.Thank you for joining us. The US unit of Japanese airbag
0:06:34 > 0:06:37manufacturer, Takata, has reached a settlement with 44 US state
0:06:37 > 0:06:44attorneys. There was a deadly safety defect with the airbags. The
0:06:44 > 0:06:49settlement could pave the way for a sale of the company to rival the
0:06:49 > 0:06:55safety systems. I am joined by Timothy McDonald. This could be good
0:06:55 > 0:06:58news for Takata, but they are bankrupt. They have run out of
0:06:58 > 0:07:05money.That is a big issue because, interestingly enough, even though
0:07:05 > 0:07:14$650 million have been decided upon, no one will make them pay it. They
0:07:14 > 0:07:19were pushing for this penalty but said they do not expect them to pay
0:07:19 > 0:07:26it. The reason is there is a separate settlement of $1 billion.
0:07:26 > 0:07:30Within that, there is money for the car settlement and those affected
0:07:30 > 0:07:35and victims. Let's not forget, many people were injured and died because
0:07:35 > 0:07:41of these airbag faults. Of course, I guess the other issue is they are
0:07:41 > 0:07:48trying to re-establish the company. They are doing that through a buyout
0:07:48 > 0:07:53from one of their competitors. There are a number of hurdles and this is
0:07:53 > 0:07:57one of them.Hopefully it is resolved sooner rather than later.
0:07:57 > 0:08:02Thank you so much for that on Takata, Timothy McDonald, the
0:08:02 > 0:08:10business reporter. The Chief Executive of Uber has vowed to
0:08:10 > 0:08:15continue investing in Southeast Asia even though it expects to lose money
0:08:15 > 0:08:23as it battles its local rival. In doing so, they have dismissed
0:08:23 > 0:08:28earlier reports they may sell their business in Asia to their
0:08:28 > 0:08:33competitor. Softbank, from Japan, which owns a stake in both
0:08:33 > 0:08:37companies, has suggested it could be a strategy, but Uber says it will
0:08:37 > 0:08:42make its own decisions on mergers and acquisitions. And now let's take
0:08:42 > 0:08:47a look at this report from Aaron Heslehurst on the history of the
0:08:47 > 0:09:03duct tape, its role, you see it everywhere, to patch up things that
0:09:03 > 0:09:07are leaky and broken. It has even been used on the moon. Aaron
0:09:07 > 0:09:19Heslehurst tells us the story. Ow! It's duct tape. It is what we used
0:09:19 > 0:09:25to patch up cars, furniture, even shoes! Where does come from? It
0:09:25 > 0:09:31comes from her! She was working in World War Two in an American arms
0:09:31 > 0:09:37factory and she wrote to president Roosevelt. She said there was a
0:09:37 > 0:09:40problem with US ammo boxes. It was hard for soldiers to remove the
0:09:40 > 0:09:44waterproof seal on them, and that lost precious time in combat. They
0:09:44 > 0:09:50were working on a sticky tape they could rip off to open the box. The
0:09:50 > 0:09:56wartime government told Johnson & Johnson, the maker of bandaids, to
0:09:56 > 0:10:02start churning it out. They called at 100 mile an hour tape because it
0:10:02 > 0:10:06could be used for all sorts of repairs to be after the war,
0:10:06 > 0:10:15builders used it to steal air ducts. And that is how it got the word duct
0:10:15 > 0:10:20tape. -- seal. It was even used on the moon to fix a broken fender on
0:10:20 > 0:10:25the lunar Rover in 1972. The leading maker sells $300 million of it every
0:10:25 > 0:10:32year. Hmm, they must be over the moon. Aaron Heslehurst with the
0:10:32 > 0:10:39history of duct tape. Thank you for investing your time with us. I am
0:10:39 > 0:10:40Rico Hizon. Sport