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tv   Asia Business Report  BBC News  July 31, 2019 1:30am-1:46am BST

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our top story: north korea has launched what are described as multiple projectiles from a site on its eastern coast. they on its eastern coast. flew about 250 kilometres before they flew about 250 kilometres before landing in the japan sea. they do not appear to have targeted any other country. crowds have surrounded a police station in hong kong after it emerged that more than a0 people had been charged with rioting following viole nt protests earlier this month. the offence carries a maximum sentence of ten years in prison. and this video is trending on bbc.com. it is a children's playground which literally crosses borders. the seesaws have been set into the border fence which runs along the us—mexico frontier. one of the designers said he wanted to show how actions on one side have a direct consequence on the other. and the top story in the uk:
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borisjohnson has stressed he will not introduce physical controls on the uk's land border with ireland. now on bbc news, live to singapore for asia business report. apple's earnings shine. the technology giant's sales rise even asiphone technology giant's sales rise even as iphone revenues dip. africa's fashion influencers. the social media star helping to showcase the continent's designers to the world. hello and welcome to asia business report. i am sharanjit leyl. we start with apple, because the technology giant has reported quarterly profits and revenue that beat wall street's expectations, and that sent the company's shares
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higher in after—hours trade, but the figures also showed that iphones represented less than half of its overall sales for the first time since 2012. the bbc‘s north america technology correspondent dave lee told me what else apple revealed.” think these earnings tell us that this is a company that continues to go through a massive transition. the iphone is a product in decline, as is the rest of the smartphone sector. people simply are not buying as many smartphones as they used to. but to replace that earnings from that device, as they have relied on it for so long, apple is now branching out much more strongly into other areas, subscription services, tv services, things like apple pay, and things like wea ra bles, apple pay, and things like wearables, more than $5 billion in revenue for wearable devices compared to... which is up more than half from this time last year, things like the apple watch and the
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airpod headphones they sell. they are reaching into new areas which are reaching into new areas which are not as profitable now as the iphone used to be but in time could bea iphone used to be but in time could be a healthy side of their business. that's why investors generally speaking are pretty pleased today, because despite profits being down on this time last year, they do see a different kind of future for apple where the company maintains a very strong position. that was dave lee. apple also said sales in china fell 596 apple also said sales in china fell 5% as the trade war with china drags on, but that is an improvement on the 22% slump seen in the previous quarter. earlier i asked technology a nalyst quarter. earlier i asked technology analyst daniel ives how else the trade war has affected the company. you are looking at the poster child for the us — china trade battle, and i think you have seen continued tensions weighing on stock, overhanging the stock, but it comes down to china's 20% of iphone demand
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over the coming 12—18 months. that is what they are looking for this quarter, and ultimately you saw the key reason why the stocks will be up. we also heard from ceo tim cook deflecting the worries about china. he said there was a marked improvement in greater china. we know that economic growth is something that is slowing in china. that is a major market for apple. so how is it dealing with those challenges? i mean, look, that is going to be the issue for apple because we have 60— 70 million iphones, it comes down to them putting a fence around their backyard. they need to see a ca ta lyst backyard. they need to see a catalyst for this upgrade. and that will be the focus, especially with lower cost competition, and you look at huawei and what is happening in the region, and that is why i think their bark is worse than their bite, and that is what you saw this quarter in terms of iphone and specifically china demand. as you
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heard our technology correspondent dave mentioned, as well, in the past whenever apple launched an iphone, that usually meant raising revenue and sales. that may no longer be the case, so how can they manage growth going forward is? yes, i think he did a greatjob summarising it, because iphone continues to be the rock for apple, services is the engine, the mid to high grower. that is really key to the evaluation. —— valuation. we think $400 million is the value of services. —— $400 billion. it is monetising that mass of only 15% of their trade today. saying with technology, samsung electronics has posted a 56% drop in second—quarter operating profit, and thatis second—quarter operating profit, and that is as it was hit by continuing falls in memory chip prices. the notoriously cyclical memory chip industry is seeing a downturn after a two year boom, slowing demand for gadgets such as smartphones pulling
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down prices. the us has urged south korea and japan to consider signing a standstill agreement on a serious diplomatic dispute to buy time for the countries to negotiate. tokyo reigned in exports of hi—tech materials to south korea over differences that date back to the second world war. speaking of trade wars, top—level trade representatives from the us and china are meeting again in shanghai today, that is after talks resumed yesterday. but president trump has continued to downplay expectations ofa continued to downplay expectations of a breakthrough. well, i think china's willing to give up a lot, but that doesn't mean i'm willing to accept it. i think if china had their wish they would wait until after the election. they will pray that trump loses, and then they will make a deal which will stick, someone make a deal which will stick, someone who doesn't know what they are doing, like obama and biden, like all of the presidents before. because what they have done as they
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have just picked our pockets as a nation. that's not happening with trump. staying with the us, the federal reserve there is on wednesday expected to cut its main interest rate for the first time in more than a decade, when the us of course was in recession. the bbc‘s michelle fleury reports it is seen asa michelle fleury reports it is seen as a preventative measure in the face of donald trump's trade wars. jerome powell was donald trump's picked to lead america's central bank, yet he frequently berates him. we don't have a fed that knows what it is doing. the federal reserve raise the rates to soon. he wants them to cut the rates to boost the economy. it would be like a rocket ship. he is unlikely to be satisfied by the fed's anticipated 0.25% cut this week, already complaining in a tweet it would do very little by comparison to europe and china. yet make no mistake, this is a significant shift by those inside this building. america is enjoying its longer longest expansion in
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history. us unemployment is low and the stock market is at record highs. but rather than celebrate, policymakers here want to act to prevent the next downturn. so there is some broad concerns that a recession is looming. there are concerns with growth, whether it's just from a global slowdown from the president's trade wars. reason enough according to this strategist for the fed to act to keep the economy chugging along. it's not unlike opening up nitrous oxide onto the engine, just kind of keep the engine rolling as long as you can. but is this what the world's largest economy needs? take the housing market. with mortgage rates already at historic lows, this estate agent isn't sure that lowering rates will help. at this point in time i don't think the rate cut is necessarily going to help our housing market. i think right now buyers have already been feeling rates have been historically low for so long that thatis
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historically low for so long that that is not really a factor in purchasing their next home. after raising interest rates last year, there now seems almost no doubt that there now seems almost no doubt that the central bank's next move will be to cut rates. the question is how many more will follow. and of course, we will bring you the outcome of that federal rate decision on tomorrow's programme. all this week we have been looking at social media influencers, and today we had to garner, wear clothing designers are increasingly making their mark —— ghana. one fashion influencer has made it their mission to showcase their work to the world. i am a fashion and lifestyle influencer. my main platforms are on instagram and facebook. if you want all the great fashion looks coming out of africa, you need to come on my website. i
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became an influencer almost by mistake. initially i was working as a fashion stylist, and i realised we didn't really have enough platforms like magazines and online websites that were showcasing what these designers and artists were putting out there. so i decided why don't i just put the clothes on myself and ta ke just put the clothes on myself and take pictures and put it out there on my blog? and when i got co mforta ble on my blog? and when i got comfortable with instagram and facebook, i put those pictures out there as well. before i knew it, i was an influencer. the whole idea of being an influencer is quite new within, well, my country, first and foremost, ghana, and then the west of africa. so i had to do a lot of educating, a lot of explaining. usually it takes a couple of years of being an influencer before you can of being an influencer before you ca n fully of being an influencer before you can fully say that you can 100% full—time work as an influencer and make your money. a lot of people come into thejob make your money. a lot of people come into the job after a year and they think that i can make money, i demand this, i need this. but that's
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not how it happens. you need to pay your dues, you need to work hard, your dues, you need to work hard, you need to prove yourself to the brands, and hopefully it works out. and she looks great in those clothes. let's take a look at the markets in asia. the nikkei 225 has opened lower. it is really due to all those concerns with talked about earlier, president trump of course taking that very combative tone about the latest round of us— china trade talks. that is making investors in the region nervous. australia is flat, we are waiting for the other markets to open. in the us, we also saw a flat close on wall street, head of all those earnings which are due out, we told you about apple and some of the others, and we are waiting for that crucial fed rate decision. that's it for the show. a former high courtjudge says the police officers involved in the inquiry into an alleged vip paedophile ring should themselves be investigated. sir richard henriques,
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who led a review of the police operation, says carl beech's bogus allegations weren't consistent, but this wasn't made clear to the court by police when they applied for search warrants. beech has just begun a lengthy prison sentence for inventing false allegations of murder and child sexual abuse. here is our home affairs correspondent june kelly. last week, carl beech was given an 18—year sentence for the lies he told in police interviews. i had poppies pinned to my chest whilst they did whatever they wanted to do. he duped officers with his deceit. lord bramall, a former army chief, was among those beech accused, along with the former home secretary lord brittan, who died during the police investigation, and the ex—tory mp harvey proctor. i was effectively ruined by what happened. i lost my job, i lost my home.
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i have a civil action against the metropolitan police, which they are resisting. but did police break the law themselves by searching the homes of these accused? this is the question which is now being asked. in february 2015, the met police applied for three search warrants as part of their controversial investigation. it was in march the following year that the inquiry, operation midland, was finally closed, with no—one arrested or charged. in october 2016, a judge's highly critical review of the inquiry was published in part. it was the work of the former high courtjudge sir richard henriques. now in a newspaper article he attacks the police further, claiming the three search warrants were obtained unlawfully, because because police didn't reveal there were inconsistencies in beech's story. and he believes the police watchdog should have investigated whether a criminal act had been committed by the police. lord bramall has described how officers descended
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on his home in hampshire. his wife was suffering from alzheimer's. they were all over the house, and my wife was seriously ill. but she was downstairs on a walker, and i had to move herfrom room to room, and she kept on saying, "what are they all doing here?" the beech case has been extremely damaging for scotland yard, but today, the police watchdog stressed that it had found no suspicion of criminality involving officers who investigated beech. june kelly, bbc news. hello, i'm tulsen tollett and this is sport today live from the bbc sport centre. coming up on this programme: caster semenya won't defend her 800m world title later this year after the latest ruling by a swiss federal tribunal. jill ellis steps down as us women's football coach weeks
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after winning a second successive world cup. and basel move through to the third qualifying round of the uefa champions league after knocking out former winners psv eindhoven. hello and welcome to the programme where we start with the news that caster semenya will not be able to defend her world 800 metres title in doha in september after a setback in her challenge to the restricting of testosterone levels in female runners. the south african has twice appealed against iaaf rules preventing her from running without medication, and she had been able to race while awaiting the decision of a swiss court, having previously lost an appeal to the court of arbitration for sport in may. but now the swiss supreme court has reversed that ruling which means semenya would be obliged to submit to hormone—reducing medication, something she has resolutely refused to consider, in order to continue to compete. semenya released a statement
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saying: "i am very 00:00:00,000 --> 4294966103:13:29,430 disappointed to be kept

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