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to stop a vote.
That's certainly got people talking.
That's all from me for now.
Stay with BBC News.
And the top story here in the UK:
More than a million NHS staff
in England are being offered pay
increases of at least
6.5% over three years.
The deal, if approved,
would cost the Treasury more
than £4 billion.
Now on BBC News, all the latest
business news live from Singapore.
Mark Zuckerberg breaks his silence.
He says Facebook made mistakes over
the handling of users' data, and
he's reportedly open to testifying
in front of US Congress.
No surprises from America's Central
Bank, new Chair Jerome Tel delivers
its first spike of this year and he
has signalled there may be a few
more to come.
Good morning, welcome to Asia
Business Report, live from Singapore
with me, Mariko Oi.
We've all been waiting to hear from
the boss of Facebook and finally we
have. Mark Zuckerberg admitted that
the company made mistakes over how
its users' data was handled. Of
course, earlier this week, as we
reported, it was revealed private
information of Facebook users, some
50 million of us, was misused by
political consultancy firm Cambridge
Analytica. In a statement Mr
I started Facebook...
That was the statement he posted on
his personal Facebook page and he's
giving an interview with CNN, in
which he apologised for the breach
of trust. He said Facebook should
not have trusted the data firm at
the centre of this row, Cambridge
Analytica, when it said it would
delete Facebook data it held, and Mr
Zuckerberg has been under mounting
pressure from politicians around the
world to testify how it happened and
he said in an interview he is open
to testifying in front of the US
Congress. That British firm is under
mounting pressure to provide answers
as well. The British Prime Minister
Theresa May told parliament she had
backed an investigation into the
What we have seen in Cambridge
Analytica are the allegations that
are clearly very concerning, it's
absolutely right that they should be
properly investigated, it is right
the information commissioner is
doing exactly that because people
need to have confidence in how their
personal data is being used and I
would expect Cambridge Analytica,
Facebook and organisations involved
to comply fully with the
investigation taking place.
It's not just the US and Europe
that's reacting to this data crisis,
India has taken down the local
website of Cambridge Analytica
following the allegations the
company misused personal data. Let's
bring in our India Business Report
from Mumbai. Samir, tell us the
details of this Indian subsidiary of
Well, Cambridge Analytica has a
tie-up with a local company called
SLC, which claims on its website it
has partnered with Cambridge
Analytica and they have been working
together over the last few years. It
also listed a few election campaigns
it was part of, which includes the
party of the current government in
power, and the main opposition
party, the Congress. In fact, on
Tuesday we saw both parties alleging
that both parties had used the
services of this particular company
during the elections in 2010, 2014
and subsequently another state
election. Yes, but what's happened
interestingly is the website was
taken down last night and now that
page is not available. Clearly this
has become a hot issue. We also
saw... A hot political issue... We
saw the IT commission of India
coming out yesterday with a press
conference, warning Facebook if
there's any data breach in India
during the upcoming elections they
will take strict action. India is
now the largest market for Facebook
with the largest number of users and
Facebook has become a very essential
part when it comes to social media.
Samir, in Mumbai, thanks for the
update, very interesting how
globally Cambridge Analytica has
Today was decision day for this man,
the new chair of the US Federal
Reserve, which of course is the
world's most important central bank
and he delivered what was widely
expected. Jerome Powell announced
his first interest rate rise, an
increase of 0.24% to 1.75% from
1.5%. Let's look at the market
reaction. Wall Street shares have
ended the day slightly lower after a
volatile session. Asia has opened
today, Japan has reopened after a
public holiday, we are seeing some
rise there. In the currency markets,
we're seeing the dollar seeing the
biggest one-day loss in two months
against a basket of currencies. When
announcing the hike, the new Fed
chair sounded very optimistic about
the state of the US economy.
Indeed the economic outlook has
strengthened in recent months,
several factors are supporting the
outlook, fiscal policy has become
more stimulative, ongoing job gains
are boosting incomes and confidence.
Foreign growth is on a good
trajectory and overall financial
conditions remain accommodative.
As our business reporter in
Washington explained, the members
don't all share the optimism.
The thread seemed quite divided
about how well the US economy is
doing. -- said. Everyone looks at
the things called the Dot Chart,
sorry to use the jargon, it gives
you a sense of what the committee
are thinking about the US economy
and rate increases in the future.
Eight thought there should be three
rate increases this year, seven
thought there should be four. It is
a mixed bag about what the Fed will
do in the coming months. Either way
the US economic situation has been
improving, which suggests the Fed
has legal room Dashwood ballroom in
terms of the timing of the interest
rate increases -- wiggle room.
Donald Trump has announced further
tariffs on China and import tariffs
on steel and aluminium have been
making headlines, did he say
anything about the administration's
It was quite interesting. Obviously
I was sitting in the press
conference and every reporter once
the Fed chair to say something,
anything newsworthy, it was
interesting Mr Powell was quite
sitting, he said the Fed doesn't do
trade policy. Many members of the
Federal Reserve board, we're hearing
from members of the business
community, that they were worried
about a trade war and that has made
the Fed reconsider the possibility
these tariffs might have some sort
of impact on the US economy. So far
they haven't changed their outlook
for US economic growth.
We will bring you all the latest
ones Donald Trump announces further
tariffs against China.
What part of your work day do you
dread the most? I'm pretty sure the
answer would be meetings for many of
us, and in the modern office, often
we are trying to collaborate with
people who are not even in the same
room. What are the new-age solutions
to get over that problem? As part of
our Future of Work series, Yogita
Limaye reports from New York.
Meetings are hard whoever you are.
They can be boring and sometimes go
on for too long. But the they are
necessary too. They were the most
important decisions are taken. In an
office like ours the meetings are
pretty easy because we all sit
across from each other, but some
estimates suggest 45 and 50% of the
American workforce could be revoked
by 2020 -- 45 and 50%. So what good
meetings of the future look like?
Some companies are turning to
robots. This is a Segway like device
with an iPad as a face.
Robotics, Silicon Valley start-up,
says they have sold these two 4000
customers. But could this be made to
feel even more real? I look silly
nodding and Finnair but this is how
hologram technology works, it makes
you feel like you're in the same
place as someone who isn't there. --
at thin air. It is hard to set up
and is still in its early days.
Our clients are lots of corporate
fortune 500 clients using it for and
we are trying to build in the
conference rooms for telprescence.
But for now most small companies are
using different forms of video
conferencing to meet their needs.
This firm's pounder says the ability
to have remote workers is critical
to their growth.
If you're not able
to say, hey, you can't move to a new
location or grow a new business in a
different geography we wouldn't be
able to hire the right people we
need to hire to grow the business.
While technology that allows people
to be face to face is key, what's
most important is that work gets
done and so companies like this one
are also on the lookout for
innovation that makes meetings more
Yogita Limaye, BBC News, New York.
Before we go I wanted to mention
about the China's -- China's
Facebook, we were monitoring their
share prices, Facebook has been
having problems with share prices
but ten saying prices are doing well
in Hong Kong. -- ten saying.