tv Asia Business Report BBC News July 5, 2018 1:30am-1:46am BST
our top story: anti—terrorist police have been called in to a small english town near the site of the skripal poisonings after two more people were exposed to the nerve agent novichok. the victims, a local couple in their 405, are critically ill in hospital. the metropolitan police assistant commissioner, neil basu, said anti—terrorism officers were now leading the inquiry. footage of the boys trapped in a flooded cave system in thailand appears to show them in good spirits as the operation to get them out safely continues. the us has been celebrating the 4th ofjuly, independence day. in traditional style, with parades and parties, and for one man, spray painting the stars and stripes onto his front lawn. it took arthur mccann about two hours to complete the work of art in massachusetts. that's all. stay with bbc world news. labour has called on the work
and pensions secretary, esther mcvey, to consider her position. the minister apologised to the commons, saying she'd made inadvertently misleading statements to mps about universal credit. now on bbc news, all the business news, with asia business report. where should investors put their muggy? the trade war between the us and china looms. in the us is taking on india's ali would moviemaking machine in there own backyard. —— bollywood. welcome to asia business report. economic growth is in jeopardy. that is the latest from the world trade organization. comments come as trade tensions escalated between the us, china, and
the eu, with all signs threatening increasing tariffs. the director—general of the trade body spilt out the negative effects. the economic impact will be one of a slowing down depending on how deep it is. it is difficult to speculate, but it is going to be negative. we have already seen some forward—looking indicators pointing in that direction. what about the present movement towards global trade was white what we have in terms of tensions, they come from the political environment in many countries. those... they are new environments in these countries. they come from structural changes in the global economy. president trump, his ideas, his administration, it is
a result of those tensions. the wto. investors are also getting jittery. the first half of this year, a benchmark index for asian stocks lost more than 5%. as the clock ticks down to the deadline on friday with the us and china imposing billions of dollars on each other‘s products, i asked what country will be hit the hardest? if the situation escalates, and this isjust be hit the hardest? if the situation escalates, and this is just the first round of tariffs, it will be global consumers... this is the worst case scenario. global consumers... this is the worst case scenario. import prices for companies will be pushed up and they will then, to be very honest, pass it on to consumers to be aluminium prices go up, so a coca—cola can will cost more to buy. fascinating. the idea is these american companies, they produce a lot of products ironically in china and will be massively impacted.
china is one piece of the supply chain. the apple iphone is notjust manufactured in china, there are different stages. from a chinese perspective, they could likely to get american agricultural companies in particular. that is not good for us companies based in the us. look at china itself. slowing export numbers, a weakening currency. how was this going to play out for them? everything is merging. not only do we have the external forces, the trade issue, but internally, we also have the deal averaging process. —— deleveraging. it is about reducing debt in china. the biggest risk for the chinese is policy mishap. how do you foresee all of this in a couple of months? does it settle down? will we see a potential escalation? the chinese market is down for the year.
globally, we could see further corrections in the markets. having said that, do not forget, markets have been going up in a linear way. investors have been complacent with the risk of investing. look at stocks. it is all about earnings and sustainability. consumer names, financials, even energy. the chinese conglomerate hma has had it's chair die. he fell 15 metres while taking a photo. we have more on the story. very tragic for family and friends, and huge worry for hna. exactly. he died when he was trying to pose for a photo in this beautiful
picturesque village in provence. a number of witnesses saw him pose for these photos. what will this mean for the company? they have basically been seen as one of the biggest companies in the world we have never heard of. it is valued at $230 billion, a quarter of a trillion. it has investments across finance, aviation, tourism, and they have brought up great swathes of international properties. the issue for the company is they have been in turmoilfor for the company is they have been in turmoil for the for the company is they have been in turmoilfor the last 12 for the company is they have been in turmoil for the last 12 months. because of the huge expansion into global assets, the empire building, beijing wanted to crack down on chinese conglomerates with such large amounts of foreign debt. this is basically crippling them. they stopped trading stocks at the start of this year. they have been on a sales spree, selling off $6 billion in hilton. he was the orchestrator
of how they would get through this. his death is not being liked by the foreign markets. the question will be how they navigate forward. that will fall on the co—founder and the ceo. they are more public faces of the company. whether they can navigate this remains to be seen. thank you. netflix says its next 100 million customers will all come from india. it is a tall ambition in a market with bollywood and established tv companies churning out content. they are releasing the first original series made in india. so far, netflix has not seen much success so far, netflix has not seen much success there compared to other markets to be we have more from more by. . markets to be we have more from more by..— markets to be we have more from more by. . —— goodbye. it is not uncommon
to see bollywood stars on the red carpet. sacred games is the first original netflix show made in india. it has been adapted from a critically acclaimed novel, set in the dark underbelly of mumbai, with politics, crime, and passion coming together in a thrilling tale. it is one of seven original shows announced why the streaming service in india as it works to make content ina in india as it works to make content in a promising but competitive markets. we are commissioning more shows and films in india relative to the time we have been in the market than any other territory outside the us. india produces nearly 2000 films every year. that makes it the largest movie industry in the world in terms of releases. it also has an established television industry with hundreds of millions of viewers spread across the country to be
netflix realises that it needs to be making local content to tap into the market. the opportunity is huge because india one of the fastest growing internet market is driven by cheap data and smartphones. but it is facing fierce competition. homegrown applications are dominating the market in terms of monthly subscribers. amazon prime only entered the market last year also has more customers than netflix. much of it comes down to price the cheapest plan offered by netflix is more than double that of hot stars, among the more expensive streaming services in india today. competition also meets opportunity, though. translation: these platforms give more creative freedom to actors, which we normally do not get. there is more scope to explore a subject or a character in depth without restrictions. the video
strea m without restrictions. the video stream in market in india is already valued at $300 billion, that is expected to more than double by pretty predicted. and so the battle to sign up will only keep going. —— double by 2022. bbc news. hong kong's top court has ruled a british expatriate has won the right to live in hong kong with her wife. it is a landmark decision for foreigners in same—sex marriages, and one that was supported by major international companies. the woman known as qt sued the hong kong government after she was denied a spousal visa. her lawyer said this to us. with this change hong kong will have an advantage over singapore in that the
banks will be able to recruit those they haven't been able to recruit in terms of talent. we are not as far as taiwan were same—sex marriage is actually allowed in the jurisdiction, but we are on that way, i expect. the markets before we go. among those that are open, the nikkei in the all ordinaries index in australia. lots of worries about the trade tensions. that is it for this edition asia business report. goodbye for now. this is bbc news. the top stories this hour: british police say two people who've fallen critically ill were exposed to the same type of nerve agent used in the attempted murder of a former russian spy and his daughter. footage of the boys trapped in a flooded cave system in thailand appears to show them in good spirits, as the operation to get them out safely continues.
the national health service is 70—years—old today. there'll be events to celebrate its birthday all over the uk. 1.5 million people now work for the nhs, making up the biggest care team in the world. adina campbell has been to meet one family who've been part of the nhs for four generations since the 1960s. my name is elaine unegbu and i am a retired nurse. my name is ngozi edi—osagie and i am a consultant neonatologist. my name is ndidi edi—osagie and i am a third—year medical student at king's college london. for this family in manchester, working for the nhs has provided lifelong careers. well, i was brought up around hospitals because my mother was a nurse and my grandmother was a cook, and my grandmother looked after us a lot and we would come to the hospital
and wait for her, while she was finishing work, to come and pick us up. i was the first nurse in my family, and i think i am still the only one, because my familyjust thought nursing was a bit heavy and they tried to dissuade me, but i loved the uniform and that is why i went into nursing. and now your daughter is also following in your footsteps. she is. what is it like to see your daughterflourish? well, i must say, when she first said she was going to do medicine, i tried to dissuade her, actually. but in the end i was really pleased that i had been such a good role model for her. because, i thought, there are so many other things you can do, and when you are in a profession, you always think the grass is greener on the other side. but i actually really enjoy myjob and she said to me, "mum, but you love yourjob," and i do love myjob. so i am quite pleased that she had decided to become a doctor in the end. and it is hard work — the long hours, the shifts, that has not put you off?
no, i do not know what else i would be doing, to be honest. it is sort of... i have just got used to it. and all my friends are in the hospital with me. my mother has recently become associate medical director. i think you are one of the first black women in this position as well, in the hospital, so, i think that is a really, really proud achievement. and i am really proud of her, and we all are. no pressure then, your children years down the line, are they going to continue this legacy? i think we will all get tired of it by then, probably go into something else. who knows? my experience, i suppose, is very different to my grandmother's and is very different to my mother's and probably will be different to my daughter's, but the fact that we have all been able to contribute and we all enjoy what we do, i think that is a great testament to the nhs that we work in and we all love. that is there from it. we will have more on the breaking news story for you in 15 minutes' time. hello, i'm chetan pathak and this is sport today,
live from the bbc sport centre. coming up on the programme: caroline wozniacki crashes out of wimbledon — the world number two is beaten in the second round. could juventus tempt cristiano ronaldo away from real madrid? the italian champions make a big money offer for the portugal forward. and 43 all out — an all time low in test cricket for bangladesh on the opening day of their first test against the west indies in antigua. there was a shock defeat for the world number 2 and australian open champion caroline wozniaki, who's crashed out of wimbledon in the second round. but the seven times champion serena williams and the defending champion roger federer both sailed through. austin halewood reports. many have stepped on to centre court dreaming of beating roger federer, few have made it