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And the top story here in the UK.
BBC News understands
that the government is poised
to announce a significant pay rise
for almost all NHS staff
apart from doctors.
It's thought around a million
people will benefit.
Now on BBC News, all the latest
business news live from Singapore.
Because of ongoing concerns about
the use of data by the social
networking giant. And please
reconsider tariffs against China.
That is the message from America's
retail giants to President Trump.
Good morning, welcomed Asia Business
Report live from Singapore with me,
Marika Oi. Social media companies
are in the spotlight once again with
Facebook shares falling for a second
day following reports US authorities
are looking into Facebook's handling
of personal data and the scandal
involving the consultancy, Cambridge
Analytica, is affecting and other
social media firm, Twitter, whose
shares closed down 10% in US trade.
Let's bring in our business
Cambridge Analytica has
suspended its boss, Alexander Nix,
over these allegations of data
harvesting and meddling in
elections. Cambridge Analytica has
denied all wrongdoing, as has
Facebook. We saw it to the share
price though. $60 billion wiped out
over two days, the size of a small
economy. Investors are worried about
the implications of the scandal.
Will this deter investors and
advertisers? Will they face more
regulatory restrictions? On Tuesday,
we saw shareholders sue Facebook in
a class-action lawsuit saying that
they have suffered losses because of
this and this could be the first of
several lawsuits. Again, we are at
the tip of the iceberg when it comes
to the scandal and we don't know how
deep this rabbit hole goes.
heard from Facebook, but not the
Investors are wondering why
Mark Zuckerberg or Cheryl Sandberg
have not said anything. The teams
are working around the clock to get
all the facts and take the
appropriate action moving forward.
The entire company is outraged that
we were deceived. Again, people are
very worried. Whether Facebook is
going to do something about that.
And Cambridge Analytica has worked
in Asia as well.
Analytica, in that secret video
recording, we saw some of the bosses
talking about Shell companies to
disguise some of that activity. They
have been involved allegedly in
Mexico, Brazil and other countries
and in Asia, Malaysia and India but
I want to talk about Malaysia
because it's a very sensitive time
politically for the country. They
are set to hold another of elections
this year and so the Malaysians
government came out with a statement
saying they had never hired
Cambridge Analytica to help them in
the last round of elections in 2013.
The fallout continues. In other
business news, at Japanese carmaker
Toyota is hitting the brakes on
tests of self driving cars on
American roads after a woman in
Arizona was killed at the weekend
after being hit by an Uber vehicle
in autonomous mode. That accident is
under investigation. American retail
giants are asking President Trump to
reconsider in posing trade tariffs
on China. The likes of Walmart and
target say any tariffs will increase
the price of everyday goods for
consumers at President Trump is
reportedly announcing further
tariffs against China worth $60
billion this week. Debra elms is the
Executive Director of the Asian
Trade Centre and as tensions rise
between the world's two biggest
economies, she explained why even
more tariffs against China could be
The original number was
around $30 billion. As designed by
his trade team. It was not seen as
big enough by Donald Trump himself.
In the last few days, there have
been scrambling to double that
number and we expect those to be
announced potentially this Friday,
possibly slipping into early next
week but in the coming days.
think this warning from the likes of
Walmart and target have any impact?
Probably not because this is a
long-held desire of Donald Trump to
raise tariffs on China and do it now
so I don't think he cares one way or
the other what these retailers say.
His desire is to have higher tariffs
and he's saying he will do so.
he have a point? Does he have a
point about intellectual property
and so on?
There are two issues. The
US has a trade deficit. Is that
damaging? No. Does the United States
have a long-standing issue? Yes. Is
it is significant as it used to be?
No. Our tariffs, the way to address
that, is unilateral action the way
to address that? No. What those are,
that is the tricky part.
forecast has been downgraded by
Goldman sacks. From 8% down to 7.6%
for the year to March 20 19. What
happened? The world's fastest
growing economy hit by this but not
It's all to do with the
recent banking scandal that has
happened in India. One of I's
largest national banks, it was
discovered that $2 billion worth of
credit was swindled. This is when
you open Pandora 's box. Following
this news, other smaller public
sector banks which have come forward
and registered complaints alleging
that they have also been defrauded.
It's led to this sort of crisis
within India, in a public sector
bank, the lot of rich companies and
billionaires have been able to
swindled money at different periods
of time is over the last 7-8 years
at a time and I's banking sector is
struggling because of high amounts
of bad debt which has led to lower
credit growth and banks are not in a
position to lend too much money
which Goldman sacks says will affect
growth because if companies can't
borrow, how will they expand?
talked about this crisis. How is it
going to change because of the
It's quite significant. I's
Central Bank's head said the Indian
Central Bank needs more power. Not
able to regulate I's public sector
banks. Public sector banks dominate
the space here and if they start to
crack up, it affects the economy.
Thank you for the update. Were the
work, the public sector,
manufacturing or services, the big
focus is usually on boosting
productivity. In a factory, as
simple as buying more machines. Can
you technology help us work more
effectively. We try out some of
Could a study of my brainwaves make
the more productive? This company,
MindPlay, certainly thinks so. Even
when I go to get my lunch. We will
find out later what the results are.
Here is another trend. We are
producing vast amounts of
communications data. Telephone
calls, emails, chat of all kinds
what if we could analyse that they
learn lessons about productivity?
That is email dater. Behavox
monitors communications by bank
workers mainly to spot any unlawful
or unethical activity. But now is
using artificial intelligence to
assess whether your communications
are productive. It all sounds a bit
In our personal lives,
we are giving away this part of a
freezer when it comes to the
workplace, all of a sudden everybody
is upset about the fact that
companies are going to use that dart
to make more money.
Let's find out
what the brain monitor says about
For the first 7- ten minutes of
the meetings, you are very highly
engaged. There was a slow tapering
off. That's because you become less
involved in the meeting. What were
you saying? Exactly.
We can all
train ourselves to be more
productive in the office. Perhaps
fewer, better meetings could be one
That's it for this