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Transcripts For BBCNEWS Asia 20240703

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Hello and welcome to Asia Business report. Im arunoday mukharji. Electronics giant foxconn is under investigation in china. Authorities are carrying out on Site Investigations in multiple locations the Company Operates in, according to Chinese State media. Business reporter Suranjana Tewari is here with the details. Give us a sense of what we know moment. Chinese state at the moment. Chinese state media say that foxconn is under investigation within china at some of its subsidiaries. Its some of its subsidiaries. Its not clear some of its subsidiaries. Its not clear as some of its subsidiaries. Its not clear as the some of its subsidiaries. It� s not clear as the global times did not specify what it is under investigation for but it did allude to something related to taxes, to land use and the breaking of some sort of law and regulation. Foxconn is an Electronics Giant and makes apple iphones for the global market. It is a Taiwanese Company but has had good relations with the Chinese Government which is why operates so many plants in china on the mainland. Fox consent statement to the bbc and said it would actively cooperate with investigations into its companies and some surgeries. Into its companies and some surgeries into its companies and some surgeries. What is your sense at the moment . Surgeries. What is your sense at the moment . Is surgeries. What is your sense at the moment . Is there surgeries. What is your sense l at the moment . Is there likely to be speculation and questions about the timing of this . Its about the timing of this . Its not clear what about the timing of this . It� s not clear what has prompted the investigation. What we do know is that taiwan is two and a half months away from a president ial election in china will be very interested in that because china claims the territory of taiwan as its own although it is self governing. The other interesting thing is that foxconn� s billionaire founder cut ties with the Company Recently to run in the president ial election. He is running as an independent candidate. Whether he has said something on the campaign trail, we never know, but we will be watching developments closely because its a big company, an Electronics Giant and a key manufacturer of apple iphones and we will have to see the impact on that kind of manufacturing. The taiwan stock market opens on the next half hour and we will keep a close eye if there is any reaction. We will wait to hear for you. Its not just foxconn. Other Tech Companies under scrutiny are microsoft, alphabet, and meta all of which will announce earnings this week. Our Business Reporter katie silver tells us what to look out for. Its a bumper week for tech earnings, a sector hit hard with lay offs and government regulation earlier this year but seems to be for the most part bouncing back. Its notjust how they did in the previous quarter, investors are looking at what Companies Say about what is coming next. On tuesday, microsoft will report its earnings for the Third Quarter, a company that often beats expectations. Microsoft managed to get its huge acquisition of the Video Game Publisher which makes kandy krush over the line. Getting hard won approval from the regulators. And that is the good news, but Microsoft Might also have to pay almost 30 billion to settle a tax bill. Last quarter the earnings outperformed the other tech stocks. Investors like that saw the Company Shares jump. This time around people will look to how google cloud and Google Search and youtube ad revenue did, and more more detail on how the ai bot can take on chat gpt which microsoft has a Huge Investment in. On wednesday, the Company Behind facebook and whatsapp reports, facing competitions from the likes of telegram, meta announced it would roll out broadcast channels allowing users to broadcast messages on facebook and messenger. On thursday, the south korean chip giant is one of the Worlds Largest makers of memory chips and has had a really tough couple of quarters, like its larger rival samsung. Thats because of an ongoing global over supply of chips has caused prices to drop but it will be interesting to hear how ai is Driving Demand for its high end chips. Similar results expected on the same day for intel. Investors say we might see a Double Digit Drop and its been hit by a slump in the pc and smartphone industry. And finally on thursday it is Online Retail behemoth, amazon, with shares up almost 50 and expectations for the results are high. The companys Cloud Computing arm is getting a boost by the move towards ai but amazon is facing huge legal battle, a landmark Anti Trust Lawsuit in the united states. General motors and ford will report Third Quarter earnings this week. It comes amid some of the biggest strikes in us history at plants of both companies. Unions are demanding pay rises citing healthy profits from the automakers. Both gm and ford have said the strikes will hurt their profits. Now, to other news making headlines this morning. Australian pm Anthony Albanese heads to china next week to china at the end of next week in a bid to stabilise relations with the countrys biggest trading partner. While hes there, hell meet with chinese president xijinping. The two countries have been locked in a bitter dispute over wine trade, made worse in 2020 when australias former leadership sought an investigation into covid i9s origins. But that relationship may be improving. On sunday, china said both sides have reached a consensus on that wine dispute. Besides foreign policies, australia also has domestic issues to contend with like inflation. All eyes will be on michele bullock, the new governor of its central bank, when she speaks publicly for the first time on tuesday. There were talks of a rate hike to dampen high prices when she chaired her first meeting in october. But the bank ultimately decided to hold rates steady. And thats why wednesdays release of its Third Quarter Consumer Prices will be closely watched, after the 6 level reached in the second quarter. Earlier i spoke to kelvin wong, a Senior Market analyst with Financial Services firm oanda. He explained to me the Inflationary Pressures australia is currently facing. Even though the 03 expectation for the numbers, markets are expecting a low number compared to about 5. 2 over 6. 2 in 02 but due to this high energy price we see in the last two months, the Cpi Indicator we saw on this wednesday, the markets expect upward tick to 5. 3 versus 5. 2 in august, so if that comes to expectations, that will be two consecutive run of Inflationary Pressure picking up in australia, so that is a tough one, and less lagging inflation compared to the quarterly one. And the story over here, we see especially in australia and new zealand, primarily their growth is dependent on an extra low economy, so any relation with china, with china last week we had this liquidity problem. How to smaller businesses compete with their much bigger rivals who may also be getting Government Help to stay profitable . Those are the challenges that the boss of fiji airways thinks about every day. We have systematically since 2015 systematically elevated our airline. One of the core things we have done with our airline is put on a remarkable service. Service culture programme, we run it quarterly, all of the staff and we have 12 Building Blocks and its done amazing stuff for us. Our Service Today beats Air New Zealand and qantas. Is itjust down to service . We have a new fleet, flying the 15 900s and we have four of them that service the markets and we have a superb product, so between product and Service Standard and quality, we are a step ahead. Lets talk about australia, because the Assistant Treasurer has recently said he wants the Australian Government to keep qantas profitable. You compete against qantas. How do you feel about the state aid that your rivals have possibly received . I honestly wish we had the same. During covid they helped us with guarantees that no cash and we had to double our debt to survive. And weve already paid back 30 , so we had a different approach to qantas and Air New Zealand. We never shut down and we kept the airline alive, so our philosophy was to be ready at a moments notice and we had many ready programmes. And when in december 2021, the boarders opened, we were the first movers in the market, and are still the first mover today. Votes are being counted in argentinas president ial election. The frontrunner is a right wing economist and tv personality, who has proposed replacing the local currency with the us dollar to control spiralling inflation. September inflation came in at 138 in the taylor swift continues to hit different at the box office. Dollars on its second weekend in the cinemas. The end of november, it will become the highest grossing Concert Movie of all time, beating if youve go round youll notice these hundreds of discarded trolleys full of rubbish. And what a shock a trolley full of rubbish today in grimsby, its been clear to see just how much or how little has been done to clear up this problem. That should have been took. But with councils not responsible for the clear up of private spaces like alleyways, its difficult to see how all this will change without help from the community. This is not normal. Kids are growing up and thinking this is normal. Its only going to get worse. Change, of course, wont happen overnight, but what many Litter Campaigners are hoping for is at least some improvement. For more stories from across the uk, head to the bbc news website. After my reconstruction i was left with no nipples, and it was something that i thought, you know, its ok, its fine. I still looked normal having a reconstruction. And i was happy with that. As time went on, it grates on you a little bit. She discovered anna offering the service privately in chester and made the five hour round trip for the treatment, which cost £600 for a pair of tattoos. I just feel complete. I can look in the mirror and feel normal. Not that i stand there every day and do that, i did to start with, because im so happy. Im so happy with it. For more stories from across the uk, head to the bbc news website. Welcome to sport today. The headlines this evening. A ground carved into the mountains and the two teams at the summit. India and new zealand were unbeaten and on course. The top two in the pool but the hosts want so much more

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