Transcripts For BBCNEWS Asia Business Report 20170428 : comp

Transcripts For BBCNEWS Asia Business Report 20170428



carrying a knife near the houses of parliament has been arrested on terrorism suspicions. the 27—year—old was stopped on parliament street close to whitehall. us president donald trump has come to the end of his first 100 days in office. we take a look at what he has achieved on the economic front. and profits jump at google‘s parent company alphabet as a search engine continues to dominate digital advertising. welcome to asian business report. saturday marks the 100 days of donald trump's presidency. 0n the campaign trail, he made bold promises of what he would do in his first 100 days in office. but, being the president turns out to be quite different than getting elected. and very little of mr trump's plan has been carried out. on the economy, much of what it wa nts to out. on the economy, much of what it wants to do relies on getting congress to work with the white house and that is proving difficult. we have more from new york. asa as a candidate, donald trump had ambitious plans for the economy in his first 100 days in office. ambitious plans for the economy in his first 100 days in officelj ambitious plans for the economy in his first 100 days in office. i am asking the american people to dream big once again. what follows is my 100 day action plan to make america great again. but things that require action by congress have stalled. 0bamacare, not action by congress have stalled. 0bamaca re, not repealed. action by congress have stalled. 0bamacare, not repealed. the tax code, not reformed. even so, president trump has seen the economy thrive. the domestic economy is good. regardless of what trump's policies are, they are going to take time to implement and that's why i think you see a period in the first year, even forget the 100 days, you have seen periods where the market moves have seen periods where the market m oves a re have seen periods where the market moves are consolidates and then moves are consolidates and then moves up moves are consolidates and then moves up again. that is a very good and healthy way to the market to move. consumer confidence has risen and go to as business confidence. and, crucially, stock markets are up as well. the s&p 500 has risen over 596 as well. the s&p 500 has risen over 5% as investors being convinced that president trump will deliver for corporate america. they have a checklist of items that they want to pursue to get to the gdp growth of 3.5%. that is the number they throw out there. implicitly, they premise that grows on the idea of tax cuts mainly as well as infrastructure that. they have a lower legislating to do between now and the mid—term elections next year. president trump has not been able to change much in the economy in 100 days. and if he does not bring change soon, the high hopes that are really fuelling economic activity, well, that may start to stall. shares of google's parent company, alphabet ‘s sword over 4%. that was it reported a 29% in quarterly profits to over $5 billion. it is driven by advertising on mobile and its popular youtube video servers. the firm is now worth more than $600 billion and there are concerns that that may be too big. google controls about 88% of the online search advertising market and some argue that google, as well of other tech giants such as facebook and amazon are operating as monopolies. amazon also just reported a a1% boost in its quarterly profit another thanks to strong sales at its cloud computing businesses. so, should these companies be broken up is to make here is a view from an industry a nalyst. make here is a view from an industry analyst. in the conventional sense you have to say that certainly in the search advertising area, alphabet, google is clearly a monopoly but it does not have all the characteristics of traditional monopolies. there is still some co ntesta bility monopolies. there is still some contestability around search markets. for example, if you want to find out about a medical condition you may go to wear them the grey suit rather than go to google. it also still remains very innovative, so also still remains very innovative, so they are not battening down the hatches and price gouging. they are still putting money into innovative activities, particularly in areas that run at a loss. what is it then say about the tech industry that in one mere decade the largest firms by market cap have all changed, save for one, and that is microsoft. but 110w for one, and that is microsoft. but now you have, alphabet, apple, amazon, are they too big?|j now you have, alphabet, apple, amazon, are they too big? i think they need to remain under scrutiny. i know that the european commission is investigating alphabet at the moment for some of the practices it is doing. conventionally, you would have to say yes. they really are dominating the segment that they are in. amazon is now up to about 50% of the e—commerce market in the united states, locking out a lot of traditional retailers as long as online rivals but again it is not a haven in a traditional monopolistic way of price gouging. consumers still get a good dealfrom amazon way of price gouging. consumers still get a good deal from amazon as to google ‘s customers. prices there are actually going down and they are investing in innovation and offering better services and profits to their customers. using the companies will sustain these earnings?” customers. using the companies will sustain these earnings? i think alphabet will for some time yet. both of them are in a strong position, the do we mention. amazon is as well. they have huge opportunities for global expansion beyond the united states and a few other key markets it is in. they do need to be scrutinised by regulators very carefully. as he spoke about, amazon is marching overseas that march is taking a toll on yahoo! japan. the company shares dropped 10% on thursday after warning it would raise its marketing budget by nearly 50% and that says it struggles to compete with amazon, the us online retailer has been investing heavily injapan including splurging on warehouses and robots to launch an amazon prime servers. staying with earnings and first—quarter profit at chinese internet giant bai du wrote about 7% from the previous year but the company is warning that earnings in its current order would be less than expected because of restructuring cost. bai du shares fell on that warning. nintendo expects to sell 10 million units of its new switch game console over the next year, beating big on the follow—up to its poor selling prior unit. they issued the forecasters they reported earnings that jumped sixfold. that forecasters they reported earnings thatjumped sixfold. that is due to the sale of a major stake in the seattle mariner's baseball team, worth over $600 million. samsung electronics is staying with the status quo. the biggest electronics firm in south korea has decided not to adopt a holding company structure like many other south korean conglomerates, samsung has a complex web of cross shareholdings. it has been under pressure by lawmakers and investors to streamline its ownership structure. samsung says changing to a holding company now would affect its competitiveness and bea drag would affect its competitiveness and be a drag on operations. now one of the quieter onto the nerves in australia is the first to admit that is longer young and that it is getting harder to stay hip in the business. that is exactly what he is doing. as the founder of the 1980s surf wear brand mambo and now deus! an hour, he sat down to write to whip with our reporter for a serious, busy but reckless. you can print at reckitt up as you go along. if i want to do something, i will do it. when i started mambo there was a lot of art, when i started mambo there was a lot ofart, a when i started mambo there was a lot of art, a lot of attitude and opinions. we always said the polarisation was our key marketing strategy. half the people hate you, half the people hate you. a bit like that you might come true. —— a bit like a that you might come true. —— a bit likea virgin that you might come true. —— a bit like a virgin might. —— a bit like vegemite1. you seemed like when people tell you you can't do something. when people say you can't, that is a good reason to start doing it. if you can make it work, it will be yours, it will be your idea. singh tour is being a dad, i have a 15—year—old son who does not care what i do. he rejects everything i do. you are not cool to your own fun? he would never sell me that. when i said i might sell deus ex machina you wanted to know why i would do that. people have an idea that australian business is all about going to the beach, hanging out, having a few copies. is it harder than that? of course. business is a business. the wind of economic reality blows as hard in australia as any where. you need to watch it but we put in a lot of effort to give the impression that we arejust some effort to give the impression that we are just some fellows having a go. that was dare jennings they're having a relaxed breakfast. look at look at the market now. tokyo stocks have opened flat staying muted ahead of the golden week holiday injapan although we do get some economic indicators in japan that although we do get some economic indicators injapan that largely met expectations. that is for this edition. the top stories this hour, the us secretary of state, rex tillerson has said that north korea leader kim jong—un is not insane and be open to negotiation. tillotson said he is preparing to chair a un security council amid rising tensions. 0ver ten undocumented prisoners had been found ina ten undocumented prisoners had been found in a secret cell hidden behind a bookcase in a philippines police station. the prisoners were found during a raid by human rights officers. now here is an artist who loves walking and richard long has used his journeys on foot around the world to find inspiration for his sculptures. his love of landscapes had inspired his work, many of which are held in some of the most important museums in the world. this week and his latest exhibition open ata week and his latest exhibition open at a georgian stately home in norfolk. 0ur arts editor went to meet him. houghton hall, in norfolk. the grand 18th—century country home of sir robert walpole. a powerful politician, with a passion for paintings. he is long gone, as is much of his collection. but not his appetite for art, which is shared by the current owner although his taste is a little different. contemporary minimalism meets georgian magnificence, with an exhibition of richard long's geometric sculptures which are installed in the house and dotted about the grounds. it's an amazing opportunity to make all these grand works, in this grand, very, very english landscape. richard long is a landscape artist, but probably not in the way that sir robert walpole would have understood. he doesn't paint or sculpt, in the traditional sense. my preference is to use the natural raw materials of the world. i suppose ijust ordered these materials into... that's what humans do, they make order out of natural chaos. his art isn't so much about taming nature, but accentuating its beauty, with circles of overlapping flint and long lines of hand—picked stone. i've always used stones, because that's what the world is made of. i can find stones anywhere in the world, almost. so, it means i can be an artist wherever i happen to be walking. and walking is what he does. from his early days as a student, when he made his mark by pacing up and down a field, to his roaming of houghton's acres, looking for suitable sites for his work. i've always been interested in alignments, you know? ever since very early work. so, one thing leading to another. it's pretty incredible that they gave me the croquet lawn to make that big slate cross. the cross, like the rest of the exhibition, is striking in many ways. not least in how the mixing of the arts of the past and present can heighten your awareness and appreciation of both. will gompertz, bbc news, norfolk. absolutely stunning grounds there. if you would like to get in touch with us, you can. next we have sport today. hello, i'm marc edwards, and this is sport today, live from the bbc sport centre. coming up on this programme: the winner takes 0—0. a boring no score draw in the manchester derby as fellani gets a straight red for headbutting sergio aguero. another win for maria sharapova on her return to tennis after 15 months out with a doping ban. ding junhui edges ahead of mark selby at the crucible in their snooker world championship semi—final. a match with so much hype, the manchester derby, city versus united at the etihad, pep guardiola versusjose mourinho, the hunt for champions league football and ultimately a totally underwhelming match. it finished 0—0 and all the morning headlines will be talking about a moment of lunacy from manchester united's marouane fellani. conor mcnamara reports.

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