Browse content similar to 23/02/2018. Check below for episodes and series from the same categories and more!
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to thrash out a plan. | 0:00:00 | 0:00:02 | |
Now on BBC News, all the latest
business news live from Singapore. | 0:00:02 | 0:00:18 | |
Trade and the Trans-Pacific
Partnership are at the top of the | 0:00:19 | 0:00:21 | |
agenda for the Prime Minister of
Australia, Malcolm Turnbull, and his | 0:00:21 | 0:00:24 | |
first visit to Washington. How
valuable is one celebrity's worth? | 0:00:24 | 0:00:32 | |
Snapchat is finding out the hard way
as its stock falls more than 7%. | 0:00:32 | 0:00:46 | |
Good morning, Asia, hello, world, it
is a Friday. Thank you for joining | 0:00:46 | 0:00:52 | |
Asia Business Report. We start with
Malcolm Turnbull, the Prime Minister | 0:00:52 | 0:00:55 | |
of Australia, meeting Donald Trump
very soon at the White House. He is | 0:00:55 | 0:01:00 | |
travelling with a large delegation
of business leaders to boost trade. | 0:01:00 | 0:01:08 | |
Australia- US trade last year rose
to $34 billion. Major Australian | 0:01:08 | 0:01:12 | |
exports include beef, other meats,
and spacecraft. The US is the | 0:01:12 | 0:01:22 | |
largest foreign investor into
Australia, pumping in $672 billion | 0:01:22 | 0:01:26 | |
into the economy last year to be I
spoke to a professor at the | 0:01:26 | 0:01:35 | |
University of Sydney, who said it is
an important relationship. They are | 0:01:35 | 0:01:39 | |
at the largest investor in
Australia, and the largest | 0:01:39 | 0:01:42 | |
destination of Australian foreign
investment. It has been that way for | 0:01:42 | 0:01:47 | |
decades. The role of the US is
fundamental and is critical to the | 0:01:47 | 0:01:52 | |
growth of Australia. It is critical
to the relationship of both of these | 0:01:52 | 0:01:56 | |
countries. You were part of the
Trans-Pacific Partnership. Now the | 0:01:56 | 0:02:00 | |
US is out of it. The revised TPP
taxed has been released this week. | 0:02:00 | 0:02:09 | |
Can Australia convince Donald Trump
to rejoin the TPP trade group? It is | 0:02:09 | 0:02:14 | |
unlikely. That does not mean the
Prime Minister will not bring it up. | 0:02:14 | 0:02:19 | |
The Prime Minister is also going to
be the keynote speaker at the | 0:02:19 | 0:02:27 | |
National Governors Association. The
Prime Minister is taking a | 0:02:27 | 0:02:31 | |
multifaceted approach. Speaking to
Donald Trump directly and getting | 0:02:31 | 0:02:35 | |
the governors on board. Joining us
earlier from Sydney. Television | 0:02:35 | 0:02:43 | |
reality star, Kylie Jenner, says she
is "So over the social media app, | 0:02:43 | 0:02:54 | |
Snapchat." While it may not seem
important to some, it put investors | 0:02:54 | 0:02:58 | |
into a panic. Snap stock loss $1.5
million, with its stock lowering by | 0:02:58 | 0:03:08 | |
7%. She said that to 24.5 million
followers. Can she really be blamed? | 0:03:08 | 0:03:16 | |
We explain. She tweeted yesterday at
4:50pm local time, 50 minutes after | 0:03:16 | 0:03:23 | |
the markets closed. Suddenly, today,
when the markets opened, it had been | 0:03:23 | 0:03:29 | |
a bad day for Snap. They ended 6%
down. A dramatic fall. The other | 0:03:29 | 0:03:36 | |
thing that happened is that they
released a report, and in that | 0:03:36 | 0:03:41 | |
report they talked about the
compensation the Chief Executive is | 0:03:41 | 0:03:45 | |
getting. He actually gets a stocks
grant of more than $600 million. | 0:03:45 | 0:03:51 | |
There are some analysts who are
saying it is a combination of those | 0:03:51 | 0:03:55 | |
two factors, and generally, many
Snapchat uses have been unhappy with | 0:03:55 | 0:04:01 | |
the new update they have released on
Snapchat. -- might. Justin Trudeau's | 0:04:01 | 0:04:10 | |
aged a trip to India has been bumpy,
politically speaking. -- eight-day. | 0:04:10 | 0:04:16 | |
Indian companies have walked away
with $1 billion worth of deals. Will | 0:04:16 | 0:04:20 | |
it be successful? Joining me from
Mumbai is our reporter. The $1 | 0:04:20 | 0:04:30 | |
billion, in which sector to be see
the largest cooperation between the | 0:04:30 | 0:04:34 | |
two countries? -- did we see. Justin
Trudeau signed these deals after | 0:04:34 | 0:04:40 | |
one-on-one meetings with some of the
big corporate leaders here in India. | 0:04:40 | 0:04:44 | |
Primarily technology companies that
decided to invest. The $1 billion | 0:04:44 | 0:04:50 | |
will be spread through Canada and
India, not just in one or the other. | 0:04:50 | 0:04:59 | |
The investment made by Indian
companies will create jobs in | 0:04:59 | 0:05:02 | |
Canada. But I think the real details
will emerge after the trip, where | 0:05:02 | 0:05:09 | |
they will give out a detailed plan
as to be specific areas in which the | 0:05:09 | 0:05:14 | |
Canadian companies will invest. They
are looking to invest in India in a | 0:05:14 | 0:05:20 | |
big way. And we will talk about
trade now. Where do they agree and | 0:05:20 | 0:05:25 | |
disagree, which industries and
sectors? There is a huge amount of | 0:05:25 | 0:05:31 | |
growth possible. India and Canada
have a deep cultural Thai in terms | 0:05:31 | 0:05:39 | |
of the population and influence. --
tie. Bilateral trade is only $8 | 0:05:39 | 0:05:46 | |
billion, unfortunately. There is a
huge possibility that. Narendra Modi | 0:05:46 | 0:05:52 | |
will meet Justin Trudeau in the
capital. They will talk about | 0:05:52 | 0:05:57 | |
infrastructure. Infrastructure is
something India is looking at. A | 0:05:57 | 0:06:02 | |
Canadian pension fund wants to
invest in India. India wants to | 0:06:02 | 0:06:08 | |
modernise infrastructure and needs
$1 billion. The other issue Canada | 0:06:08 | 0:06:12 | |
could raise with India is that India
recently put a hefty import duty on | 0:06:12 | 0:06:19 | |
products like chickpeas and beans.
That is something Canada could | 0:06:19 | 0:06:25 | |
raise. Thank you for joining us. The
US unit of Japanese airbag | 0:06:25 | 0:06:34 | |
manufacturer, Takata, has reached a
settlement with 44 US state | 0:06:34 | 0:06:37 | |
attorneys. There was a deadly safety
defect with the airbags. The | 0:06:37 | 0:06:44 | |
settlement could pave the way for a
sale of the company to rival the | 0:06:44 | 0:06:49 | |
safety systems. I am joined by
Timothy McDonald. This could be good | 0:06:49 | 0:06:55 | |
news for Takata, but they are
bankrupt. They have run out of | 0:06:55 | 0:06:58 | |
money. That is a big issue because,
interestingly enough, even though | 0:06:58 | 0:07:05 | |
$650 million have been decided upon,
no one will make them pay it. They | 0:07:05 | 0:07:14 | |
were pushing for this penalty but
said they do not expect them to pay | 0:07:14 | 0:07:19 | |
it. The reason is there is a
separate settlement of $1 billion. | 0:07:19 | 0:07:26 | |
Within that, there is money for the
car settlement and those affected | 0:07:26 | 0:07:30 | |
and victims. Let's not forget, many
people were injured and died because | 0:07:30 | 0:07:35 | |
of these airbag faults. Of course, I
guess the other issue is they are | 0:07:35 | 0:07:41 | |
trying to re-establish the company.
They are doing that through a buyout | 0:07:41 | 0:07:48 | |
from one of their competitors. There
are a number of hurdles and this is | 0:07:48 | 0:07:53 | |
one of them. Hopefully it is
resolved sooner rather than later. | 0:07:53 | 0:07:57 | |
Thank you so much for that on
Takata, Timothy McDonald, the | 0:07:57 | 0:08:02 | |
business reporter. The Chief
Executive of Uber has vowed to | 0:08:02 | 0:08:10 | |
continue investing in Southeast Asia
even though it expects to lose money | 0:08:10 | 0:08:15 | |
as it battles its local rival. In
doing so, they have dismissed | 0:08:15 | 0:08:23 | |
earlier reports they may sell their
business in Asia to their | 0:08:23 | 0:08:28 | |
competitor. Softbank, from Japan,
which owns a stake in both | 0:08:28 | 0:08:33 | |
companies, has suggested it could be
a strategy, but Uber says it will | 0:08:33 | 0:08:37 | |
make its own decisions on mergers
and acquisitions. And now let's take | 0:08:37 | 0:08:42 | |
a look at this report from Aaron
Heslehurst on the history of the | 0:08:42 | 0:08:47 | |
duct tape, its role, you see it
everywhere, to patch up things that | 0:08:47 | 0:09:03 | |
are leaky and broken. It has even
been used on the moon. Aaron | 0:09:03 | 0:09:07 | |
Heslehurst tells us the story. Ow!
It's duct tape. It is what we used | 0:09:07 | 0:09:19 | |
to patch up cars, furniture, even
shoes! Where does come from? It | 0:09:19 | 0:09:25 | |
comes from her! She was working in
World War Two in an American arms | 0:09:25 | 0:09:31 | |
factory and she wrote to president
Roosevelt. She said there was a | 0:09:31 | 0:09:37 | |
problem with US ammo boxes. It was
hard for soldiers to remove the | 0:09:37 | 0:09:40 | |
waterproof seal on them, and that
lost precious time in combat. They | 0:09:40 | 0:09:44 | |
were working on a sticky tape they
could rip off to open the box. The | 0:09:44 | 0:09:50 | |
wartime government told Johnson &
Johnson, the maker of bandaids, to | 0:09:50 | 0:09:56 | |
start churning it out. They called
at 100 mile an hour tape because it | 0:09:56 | 0:10:02 | |
could be used for all sorts of
repairs to be after the war, | 0:10:02 | 0:10:06 | |
builders used it to steal air ducts.
And that is how it got the word duct | 0:10:06 | 0:10:15 | |
tape. -- seal. It was even used on
the moon to fix a broken fender on | 0:10:15 | 0:10:20 | |
the lunar Rover in 1972. The leading
maker sells $300 million of it every | 0:10:20 | 0:10:25 | |
year. Hmm, they must be over the
moon. Aaron Heslehurst with the | 0:10:25 | 0:10:32 | |
history of duct tape. Thank you for
investing your time with us. I am | 0:10:32 | 0:10:39 | |
Rico Hizon. Sport | 0:10:39 | 0:10:40 |