Browse content similar to 16/03/2018. Check below for episodes and series from the same categories and more!
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Survivors have described
the finding as "shocking." | 0:00:00 | 0:00:01 | |
Now on BBC News, all the latest
business news live from Singapore. | 0:00:01 | 0:00:06 | |
The US slaps sanctions on some
Russian individuals and companies | 0:00:15 | 0:00:20 | |
for cyber-attacks and meddling in
the 2016 presidential election. | 0:00:20 | 0:00:29 | |
Would you want to ride a jet pack to
work? How some businesses are | 0:00:29 | 0:00:34 | |
reinventing the daily commute. Good
morning, and welcome to Asia | 0:00:34 | 0:00:44 | |
Business Report, live from
Singapore, with me, Marika Oi. News | 0:00:44 | 0:00:51 | |
from the US. The Treasury has
imposed sanctions on five Russian | 0:00:51 | 0:00:56 | |
organisations and 19 individuals. It
is basically in response to their | 0:00:56 | 0:01:01 | |
involvement in cyber-attacks on
American businesses and institutions | 0:01:01 | 0:01:06 | |
as well as alleged meddling in the
2016 presidential election. We | 0:01:06 | 0:01:13 | |
explain what is new. The US already
has sanctions against many Russian | 0:01:13 | 0:01:21 | |
oligarchs. Today, 19 individuals
have been picked by the Treasury. | 0:01:21 | 0:01:26 | |
Robert Mueller, investigating
Russia's actions in the election, | 0:01:26 | 0:01:36 | |
has helped this. One of these is
someone known as Putin's Chef, | 0:01:36 | 0:01:43 | |
owning a restaurant business up at
close to the Kremlin. What is | 0:01:43 | 0:01:49 | |
interesting is that Steve Mnuchin
says these sanctions are for | 0:01:49 | 0:01:54 | |
meddling in the election, but also
for the recent use of a military | 0:01:54 | 0:01:58 | |
grade nerve agent to murder to UK
citizens. --2. He has gone further | 0:01:58 | 0:02:04 | |
than Donald Trump has in pointing to
this alleged attack by Russians on a | 0:02:04 | 0:02:10 | |
UK citizen as a reason for these
further sanctions. In other business | 0:02:10 | 0:02:20 | |
news, Broadcom in Singapore has
reported better than expected | 0:02:20 | 0:02:24 | |
earnings only a day after they were
expecting to take over a US company, | 0:02:24 | 0:02:32 | |
but were blocked by President Trump.
They upgraded to $5.2 billion in the | 0:02:32 | 0:02:37 | |
first quarter, but no mention of the
deal. Wesfarmers is spinning off its | 0:02:37 | 0:02:47 | |
Coles operation, planning to list on
the Australian Stock Exchange. The | 0:02:47 | 0:03:00 | |
demerger comes 11 years after the
biggest takeover deal in Australia | 0:03:00 | 0:03:03 | |
at the time. They are searching in
trade on the news. -- surging. India | 0:03:03 | 0:03:07 | |
has said its trade deficit has
narrowed to its lowest in five | 0:03:07 | 0:03:13 | |
months since February. Just this
week, a challenge was launched to | 0:03:13 | 0:03:16 | |
Indian subsidies worth $7 billion
each year at the WTO. Let's go to | 0:03:16 | 0:03:22 | |
the India business report in Mumbai.
What has been the reaction in India | 0:03:22 | 0:03:30 | |
for this US to be GHO challenge? --
WTO. India spoke about the challenge | 0:03:30 | 0:03:39 | |
on Thursday. The secretary said she
will engage with Washington over the | 0:03:39 | 0:03:44 | |
challenge and talk about concerns
and respond within 60 days. This | 0:03:44 | 0:03:49 | |
comes after the US took the
challenge to the World Trade | 0:03:49 | 0:03:53 | |
Organisation on Wednesday. It is
over the Indian government's | 0:03:53 | 0:03:58 | |
exemptions for duties, taxes, and
some fees for Indian exporters who | 0:03:58 | 0:04:01 | |
are sending products to the US. They
include companies that produce steel | 0:04:01 | 0:04:06 | |
products, pharmaceuticals, textiles,
and IT products. The US says those | 0:04:06 | 0:04:13 | |
subsidies make the goods very cheap
in the US and it is unfair to US | 0:04:13 | 0:04:17 | |
companies and workers there,
creating an uneven playing field. | 0:04:17 | 0:04:22 | |
The US pegs the benefit to Indian
exporters at around $7 billion a | 0:04:22 | 0:04:27 | |
year. Thank you for that update from
Mumbai. Bitcoin prices have fallen | 0:04:27 | 0:04:38 | |
sharply to below $8,000 after Google
announced it was removing all | 0:04:38 | 0:04:42 | |
advertisements related to crypto
currencies. Facebook made a similar | 0:04:42 | 0:04:47 | |
move earlier this year over concerns
about scams in the market. One of | 0:04:47 | 0:04:51 | |
the biggest industry players still
believes that tighter regulation is | 0:04:51 | 0:04:54 | |
needed. XRP is a digital asset
related to Ripples tech, last year | 0:04:54 | 0:05:04 | |
up almost 20,000%, the best
performing of all digital assets. | 0:05:04 | 0:05:08 | |
The reason is because Ripple solves
real problems for customers, working | 0:05:08 | 0:05:18 | |
with regulators. People are
recognising Bitcoin may be the | 0:05:18 | 0:05:21 | |
Napster of digital assets. What I
mean is that Napster showed what | 0:05:21 | 0:05:25 | |
digital music could do. But Napster
tried to circumvent laws and | 0:05:25 | 0:05:32 | |
trademarks and royalties, and what
have you. In a way, Bitcoin tried to | 0:05:32 | 0:05:37 | |
avoid regulation, to have anonymous
transactions. That is not what | 0:05:37 | 0:05:45 | |
Ripple is doing. In the same way
Napster graduated to Spotify and | 0:05:45 | 0:05:58 | |
iTunes, the third generation may be
the one that lasts. To crypto | 0:05:58 | 0:06:01 | |
currencies lose appeal when
governments regulate them? -- do. | 0:06:01 | 0:06:06 | |
The idea of the crypto world can
live in the shadows and avoid | 0:06:06 | 0:06:11 | |
regulation, I think, it is just not
reality. Some in the community, the | 0:06:11 | 0:06:16 | |
crypto community, were borne of an
anti-government and anti-bank point | 0:06:16 | 0:06:32 | |
of view. Ripple says you need to
work with the system and | 0:06:32 | 0:06:35 | |
regulations. There are degrees of
regulation. China, a massive market, | 0:06:35 | 0:06:38 | |
took a massive stance against the
currencies. This hurts development | 0:06:38 | 0:06:41 | |
of the market. I agree with you.
What has happened in the ICO market | 0:06:41 | 0:06:46 | |
is bad for the whole market. It
really is fraud. There are many | 0:06:46 | 0:06:52 | |
scams going on, and it is bad for
the entire blockchaing and crypto | 0:06:52 | 0:06:56 | |
market. But countries by China have
taken a strong stance against | 0:06:56 | 0:07:01 | |
crypto. They say if they are safe
and efficient, they say digital | 0:07:01 | 0:07:08 | |
assets are inevitable. So, Ripple
and XRP, that success has seen you | 0:07:08 | 0:07:20 | |
become a paper billionaire. Had it
that there? I am looking at the | 0:07:20 | 0:07:23 | |
long-term. It is not about three
weeks, three days, three months, we | 0:07:23 | 0:07:28 | |
are solving a multitrillion dollar
problem. If we do that, we will be | 0:07:28 | 0:07:33 | |
in a good spot. For most of us,
getting the work is straightforward. | 0:07:33 | 0:07:37 | |
You drive yourself, or take public
transport. These days, though, | 0:07:37 | 0:07:44 | |
advances in robotics, automation,
and artificial intelligence, they | 0:07:44 | 0:07:47 | |
are changing the way we travel, even
to the office. Kicking off the new | 0:07:47 | 0:07:58 | |
series, The Future of Work, Rico
Hizon looks at the alternative | 0:07:58 | 0:08:01 | |
choices. People have long dreamt of
taking a jet pack or a flying car to | 0:08:01 | 0:08:05 | |
work. And that reality is closer
than most of you think. The | 0:08:05 | 0:08:12 | |
challenge is moving people from
transportation hubs to final | 0:08:12 | 0:08:17 | |
destinations. For urban planners, it
is a complex problem that involves | 0:08:17 | 0:08:22 | |
congestion, runtimes, and population
density. And this is a driverless | 0:08:22 | 0:08:26 | |
bus. The latest step some cities are
taking to get you where you need to | 0:08:26 | 0:08:32 | |
go. Human nature is that if
transport is not comfortable, you do | 0:08:32 | 0:08:39 | |
not adapt it. Drones are being
tested, but widespread use is yet to | 0:08:39 | 0:08:45 | |
come. For now, battery powered
electric vehicles are moving people | 0:08:45 | 0:08:49 | |
in new ways. For many commuters,
this is the last mile solution. If | 0:08:49 | 0:08:55 | |
the office is there and the train is
only taking them here. How does it | 0:08:55 | 0:09:05 | |
work? Battery operated scooters,
electric scooters, you can use them, | 0:09:05 | 0:09:10 | |
activate them, by a QR code. We see
a huge popular demand in all places | 0:09:10 | 0:09:17 | |
we have launched, especially when
you need connection from the MRT | 0:09:17 | 0:09:27 | |
station to offices and schools.
There will be a transport technology | 0:09:27 | 0:09:32 | |
explosion in the coming years
because of new technologies and life | 0:09:32 | 0:09:35 | |
starch trends. -- lifestyle. Jet
packs and the likes were only used | 0:09:35 | 0:09:44 | |
by James Bond and Maya McFly in the
past. -- Marty. But learning to fly | 0:09:44 | 0:09:51 | |
is one man aircraft is apparently
easier than riding a bicycle. We are | 0:09:51 | 0:09:58 | |
at the stage we can get into really
it boring the dream and the idea and | 0:09:58 | 0:10:03 | |
the concept behind true human
flight. -- we can achieve things | 0:10:03 | 0:10:08 | |
people have been dreaming of for a
long time. They may not be real just | 0:10:08 | 0:10:14 | |
yet, but one thing is for sure, the
way we get to work is quickly | 0:10:14 | 0:10:19 | |
changing and will be vastly
different in the future. Rico Hizon, | 0:10:19 | 0:10:23 | |
BBC News, Singapore. For more on the
series, go to the website on your | 0:10:23 | 0:10:28 | |
screen now. That is it for this | 0:10:28 | 0:10:31 |