tv Business Briefing BBC News February 7, 2018 5:30am-5:45am GMT
this is business briefing. i'm sally bundock. global markets stage a comeback. stock markets in asia poised for their biggest jump since stock markets in asia poised for their biggestjump since the end of 2016. traders remain an edge after a rollercoaster ride over the last 2a hours. taking to the stand! the controversial former boss of uber, travis kalanick, is accused of orchestrating a plan to steal trade secrets from google. let's show you the numbers now. you can see how the dowjones ended the day on tuesday, a big turnaround for wall street and that has been followed through in asia at the moment. is it back to normal now for
financial markets or is there more serious volatility to come. that is what many all right being after a crazy start to the week for financial markets all over the world. the global rout began on monday with heavy losses on wall street. that came through to asia on tuesday. let's have a look at how things are going in the middle of the week. japan is a buy at and similar in hong kong following a recovery in the united states on tuesday. however, it began in and —— a volatile way on tuesday with the dow dropping by another 500 points at the beginning of the trading session, and then recovering as investors came in and purchased shares that started to look cheap. this time yesterday we were looking at the dow being over —— down over 1100 close and the nikolayev was
down nearly 7%. —— the japanese market was down nearly 7%. rico hizonjoins us from our asia business hub in singapore. traders are still on edge —— can ta ke traders are still on edge —— can take a breath now. the moods of investors have shifted now from panic to relieve as most markets are clawing back some of yesterday's losses. analysts are saying that the stress by leveraged funds looks to have run its course for the moment, allowing volatility to abate a little bit although the prospect of high interest rates across the globe remains a major challenge for the long—term. profit—taking is also playing a big role. after months of global games that sent markets to record highs on the back of optimism in the world economy and strong corporate earnings. since donald trump assumed office last year, the
dowjones has trump assumed office last year, the dow jones has gained trump assumed office last year, the dowjones has gained over 30%. the s&p 523% and here in asia, the japanese market and the hong kong market also sawing. —— soaring. as of now it is a relief rally there could still be a lot of volatility over the net few trading days. on the flipside, traders are still quite confident of the underlying global economic fundamentals and strong earnings remain very supportive factors for the overall markets. we will keep a close eye on that. thank you very much indeed. uber‘s founder and former chief executive, travis kalanick, has testified in court following allegations that the company stole its self—driving car technology from a subsidiary of google. our north american technology reporter dave lee has been following the story.
in bringing travis kalanick to the stand in this trial, the lawyers for waymo have a name. they want to prove that travis saw self driving technology as crucial to the future to the. and the second thing they wish to prove is that he was willing to concoct a plan to steal the google technology and bring it to you but. question forjust a year and our, mr kalanick denied colluding with the former google employee to obtain 14,000 of the documents containing trade secrets. however, the ten personjury was shown a visitors pass and whiteboard notes from two separate occasions when the google employee is said to have met with mr kalanick. mr kalanick referred in court that he wrote the this phrase on the white
board and that he knew how to obtain laser technology. their strategy in this case the make case relies on painting kalanick is a man so determined to catch up with self driving but he was willing to use underhanded tactics.. waymo need to prove that to be used the trade secrets to create self driving technology at hoover. their attempt to do that that with kalanick is backin to do that that with kalanick is back in court on wednesday. —— self driving technology at hoover. with brexit talks under way, the uk government is hoping to begin negotiating trade deals with countries outside of the eu when it leaves the union in march 2019. according to research by the commonwealth, a free trade deal would cause uk exports to india to rise by a third. meanwhile imports of goods from india into the uk would increase by 12%. but for deal talks to progress — india wants the uk to make visa rules easier.
the bbc‘s sameer hashmi spoke to the uk's minister of state for trade and exports baroness rona fairhead in mumbai and began by asking if britain was willing to accept more immigrants from india. when our prime minister came, her first visit as a prime minister was to india back in 2016. the question of visas were raised in terms of accessibility, speed of getting them, the government has listened and has responded. for example, ifi was to look at student visas, over 50,000 were issued last year. 97 of that, of the applicants were approved. work visas, more work
visas to indian people for the uk than anywhere else. but if you look at the indian government's stands and they have been vocal about this issue. if there is to be a trade deal between britain and india, they wa nt deal between britain and india, they want it to be easier. i think that is an unfair categorisation. there have been many tweaks. were continuing to look at how we can have a productive relationship with india. how soon, given the situation around brexit and the exit, how soon do you think britain will be able to get free trade deals with asia? as long as one is a member of the eu, they cannot negotiate a free—trade deal with the third country. the government's intention is that if there is an implementation period then through that period we will be
able to negotiate but it will depend on the exact terms of the agreement and how much that can be implemented. the singapore airshow is opening its doors to trade delegations this week. and while there are many planes and high—tech gadgets on display, one thing that is conspicuously missing are big ticket deals. boeing signed one billion dollars worth of services orders,
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