Re elected. Now all the latest Business News live from singapore. Apec Trade Ministers gear up for a busy weekend in vietnam, as it faces restructuring of major trade agreements. And who knew what you could do with used Coffee Grounds . Good morning, asia, hello, world. Glad you could join us for this edition of Asia Business report. Im rico hizon. Trade ministers are gathering in vietnam this weekend and the person they will be wanting face time with, americas new trade representative, who is in charge of president trumps America First policy. Earlier i spoke to the Executive Director of a segment of apec and he told me what ministers are keen to find out. We are pretty interested to talk to the United States trade representatives and have him come and elaborate for us some details of us trade and other related policies. We are pushing ahead with a lot of initiatives in apec. It is a pretty important time. We have to have more clarity on what the us will be supporting, where their sensitivities are and how to proceed forward. The us seems to be supporting protectionist policies, so supporting protectionist policies, so how will apec respond to this . am not here in the usa that he doesnt want to hear more trade, i think they do. They are mainly talking about rules of trade. We will have some discussion about that and we are really looking to work out what. Where and we are really looking to work out what. Where these points of agreement between the us and other 20 economies in apec who are broadly aiming to want to push ahead with these things we are doing. Trade is very much on the agenda in the us. Washington has Set Mid August as the date where they wa nt to mid august as the date where they want to begin renegotiating the north america trade agreement. President trump promised to use these talks to reduce the Trade Deficit the us has with both canada and mexico, but his plan threatens to disrupt mexicos booming auto industry. It is the worlds fourth largest exporter. This report from mexicos industrial heartland. The city in Central Mexico has seen the autry and history booming for more than 20 years. The country is now the fourth largest car exporter in the world. Or to industry. Now the fourth largest car exporter in the world. Or to industry. We importa in the world. Or to industry. We import a lot of cars, we exporter a lot of cars. But good the boom be under threat . It was meant to be a shining example of free trade, but today its a monument to Donald Trumps plan of protectionism. This is all thats left of a 1. 6 billion investment that ford was making to build a plant here. Jose shows me the deed to the land he sold the ford. With the money he bought a tractor. For a while life was good. But it didnt last. Translation some people came to the plant and said there was no entry any more. The cars could go any more, it collapsed. For everyone. During his campaign, donald trump complained of bad trade, making the issue his own will stop we are living through the greatestjobs theft in the history of the world. And his attempts to coalesce several ca is and his attempts to coalesce several cars giants in moving production to the us seemed to yield results. Ford is keen to emphasise the Market Forces which drove the decision to abandon its previous plant. But the ceo admits president ial rhetoric is also a factor. At the end of the day we have to do whats right for our business and of course the administration and congress have the ability to look at tax policy, trade policy, etc, which is the Business Environment we react to. The economic advantages which created mexicos decades long car but havent yet disappeared, but a more protectionist Us Administration could undoubtedly do great harm to many livelihoods in this part of mexico. In other Business News making headlines, bmw are among car makers which agreed to pay more than 550 million to set up a Class Action Lawsuit covering owners of recalled vehicles fitted with potentially fa u lty ta ka ta vehicles fitted with potentially faulty takata airbags. The airbags we re faulty takata airbags. The airbags were blamed for 11 deaths and more than 150 injuries and sparked the biggest recall in the auto industry. Revenues at alibaba biggest recall in the auto industry. Revenues at aliba ba jumped biggest recall in the auto industry. Revenues at alibaba jumped 60 in the first three months of the year to 5. 6 billion. But growth has been powered by a growing customer base, with more than a50 million Chinese Shoppers using its sights during the quarter. 0n shoppers using its sights during the quarter. On average annual spending was up by about one third. It seems investors were underwhelmed, at Alibaba Shares fell by more than 3 on wall street. The explosion in e commerce is putting pressure on Traditional Stores around the globe, not least in america. Many shops are closing down. The Worlds Largest retailer walmart has benefited from the surge in online sales, following its bid to compete with us e commerce giant amidon. Amazon. 0ur reporter told me why we should take note of these numbers. It is a giant in terms of the number of people it employs and the number of people it employs and the foot rent it has in american retail. Footprint. It is really important. It is also looked at as a bellwether of the health of the economy in the us. It shows walmart is in economy in the us. It shows walmart isina economy in the us. It shows walmart is in a good position to be a big competitor in different areas. Weve seen that online was a huge boost to them in this last quarter. They are also doing well in terms of grocery numbers. That will be the next really big hitting area, where people will have to compete a lot for in terms of retailers and groceries and walmart has positioned itself well. It is making its mark in the us, but it seems to have major problems, especially in the Chinese Market and competing with the likes of alibaba . Absolutely. The kind of difficulties you would see with walmart competing with the likes of amazon are already established, in terms of e commerce. The task is that much greater when it comes to china and competing with alibaba. It comes to china and competing with aliba ba. Aliba bas earnings it comes to china and competing with alibaba. Alibabas earnings have just come out and wylie didnt meet investors expectations, it showed that the Chinese Market is still hungry and looking to shop. That was from new york. Have you ever wondered what happens to use the Coffee Grounds, but are thrown out by cafes around the world . One man in taiwan decided to gather them up man in taiwan decided to gather them up and make fabric from them. Today, his Award Winning material is used by about 100 clothing and sportswear companies around the world. As part of our busy breakfast series, we met up of our busy breakfast series, we met up with him to find out more. Wonderful. This is what a lot of people think Taiwanese Companies must do. Many Taiwanese Companies want to become a global brand. What is your advice to them . Coffee being fabric made in taiwan. Lets have a quick look at the markets. The Trump Turmoil continues for the Asian Financial markets, despite the recovery in us stocks overnight. The nikkei bound by about 11 points and the all 0rds losing 22 points. Wall streets indices closing higher overnight, with the dowjones and closing higher overnight, with the dow jones and the closing higher overnight, with the dowjones and the nasdaq in positive territory. Thanks so much for investing your time with us. Goodbye for now. The top stories this hour us President Donald Trump says the decision to appoint a Special Counsel to investigate russian influence on his election is a witch hunt against him. A car has ploughed into pedestrians in times square in new york, killing an 18 year old woman. The driver is being tested for alcohol and drugs. On thursday night, leaders of five Political Parties took part in an itv debate broadcast live from salford. They included the Liberal Democrats leader tim farron, ukips paul nuttall, the snps nicola sturgeon, plaid cymrus leanne wood and Green Co Leader caroline lucas. Heres a flavour of what they had to say on the issue of brexit. It is only by electing plaid cymru mps that this advice will be heard. We have been pretty much ignored since the referendum. Gibraltar has had more attention than we have had, so had more attention than we have had, so it is vital that we have a strong tea m so it is vital that we have a strong team of clyde comrie mps to advocate Wales National interests and to make sure the tories dont get away with an Extreme Brexit plaid cymru. Theresa may isntjust pursuing brexit, she is pursuing a hard and Extreme Brexit. Today in her manifesto she threatened again to walk away with no deal. That would be an economic catastrophe. That would cost in scotland alone 80,000 jobs. So my message to people in scotland, whether you voted to remain or leave, is the vote snp to strengthen our hand. The vote was to leave but leave can look very different. There was no clarity as to what it meant. Thats why the green party believes you the general public should have the final say on that final package. If you like what you see, thats great, go for it. But we believe you should have the right to be able to look at the small print and decide if you dont like it then you should have the right to remain inside the eu. wa nt to right to remain inside the eu. want to say to the prime minister, the bold on immigration, the course when people voted to leave the European Union at a didntjust for to control our borders, they voted to control our borders, they voted to control our borders, they voted to control immigration. Say no to any divorce bill that is put on the table, because since we have been members of his club we have paid over £180 billion in membership fees alone. The deal will be better, but only if theresa may and david davis have but on. She isnt enacting the will of the people, she has interpreted it in an extreme way and thatis interpreted it in an extreme way and that is being backed Byjeremy Corbyn and nigel farage as a truth through the lobbies to back that extreme extreme. The deal is this. Brexit negotiations between brussels and london the next few months will lead the outcomes that none of us can predict for the time being and that means you should have the final say on the brexit deal. Either the politicians will sign it off or you will. More on that on our website. Time now for all the sports news in sport today. Hello, this is sport today, live from the bbc sport centre. Coming up on this programme the race for top goalscorer in the Premier League goes into overdrive, as harry kane scores four for tottenham, who put six past leicester city. Stan wawrinka knocked out of the rome masters, Asjohn Isner Powers past the swiss third seed. And Fernando Gaviria makes it a third stage win in the giro ditalia by claiming thursdays stage 12. Hello, and welcome to the programme. The English Premier League title race may have been decided but the race for the golden boot will go down to the wire between Tottenhams Harry Kane and evertons romelu lukaku. Kane scored four in his teams 6 1 win at last years champions leicester city. That took his tally to 26 goals in the league two clear of Evertons Lukaku in the battle for the leagues top scorer award
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