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tv   Asia Business Report  BBC News  July 3, 2023 1:30am-1:45am BST

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capital of beijing. in chinese capital of beijing. in a statement the treasury said they will discuss the importance for both sides to "responsibly manage the relationship and work together to address global challenges." she will be in beijing from the six to the ninth ofjuly and this is the second trip by a cabinet official to china this year. tensions between the economies have taken a beating in recent years over issues like covid and trade. of course, it is the second half of 2023 and we are keeping our eye on several things like the japanese yen which crossed a key 145 to the dollar level last week. the country central bank has just released its survey with the country's big manufacturers business sentiment improving in the latest quarter. and over in china and other indicated that manufacturing is due out today.
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it covers small and medium—sized companies which should give us insight into how china's public sector is doing. 0n china's public sector is doing. on tuesday australia central bank will be meeting and investors will be watching to see if authorities will hold steady or hike the cost of borrowing because of inflation concerns. earlier, ispoke borrowing because of inflation concerns. earlier, i spoke to peter maguire of xm.com and he said he expected to see movement from tokyo on the japanese yen. i movement from tokyo on the japanese yen-— japanese yen. i think there would not _ japanese yen. i think there would not be _ japanese yen. i think there would not be surprised. - japanese yen. i think there i would not be surprised. they had done it in the last six or a months as far as intervention when it approaches the 145— 150 sort of handle so we will not be surprised to seek intervention sometime injuly. australia central bank will be meeting this week as well. it is a tricky balancing act for them, isn't it, dealing with inflation, whether or not to raise interest rates? what are you expecting? we raise interest rates? what are you meeting?— raise interest rates? what are you expecting? we have got a 3796 you expecting? we have got a 37% probability _ you expecting? we have got a 3796 probability of _ you expecting? we have got a 3796 probability of a _ you expecting? we have got a
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3796 probability of a number. you expecting? we have got a | 3796 probability of a number 25 37% probability of a number 25 point basis point hike. analysts had been wrong the last few months i will be chf actor and they will be proven wrong again and the rba goes against consensus? jury is out at the moment. i against consensus? jury is out at the moment.— at the moment. i want to ask about china's _ at the moment. i want to ask about china's economy - at the moment. i want to ask i about china's economy because we are getting weak economic data about the second biggest economy of the world which is a crucial trading partner for australia. how concerned are you? australia. how concerned are ou? ~ ., australia. how concerned are ou? . ., . australia. how concerned are ou? ., ., you? we are concerned as far as the health _ you? we are concerned as far as the health and _ you? we are concerned as far as the health and the _ you? we are concerned as far as the health and the internal- the health and the internal demand from china. we have got exports going at record levels in the sense of iron ore production and strong demand from china in that regard but the overall weakness across the global economy is weakness that is internalised in china and we have felt that in australia with a weak dollar. i have felt that in australia with a weak dollar. i guess for the us it is — with a weak dollar. i guess for the us it is a _ with a weak dollar. i guess for the us it is a very _ with a weak dollar. i guess for the us it is a very different. the us it is a very different problem where we are going to getjobs data and the economy has been showing quite a lot of resilience despite some predicting the recession might be around the corner. what are
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you expecting in terms of the jobs data and what impact with that pap on a rates decision by the fed? ~ ., ., ., ., ., the fed? we have got around a 200.000 _ the fed? we have got around a 200,000 employment - the fed? we have got around a 200,000 employment read - the fed? we have got around a| 200,000 employment read this friday. this is what analysts are coming up with. we had 339,000 built in may so it will be dropped off a little bit but overall strong numbers from an employment sector, and as far as rates are concerned we will not be subpoenaed to see fed chair powell ratchet them up again so i think we are up for another tightening us and across the world.- another tightening us and across the world. how soon could the — across the world. how soon could the right _ across the world. how soon could the right hike - across the world. how soon could the right hike come? | could the right hike come? could it come by summer? i won't be surprised. again, the jury won't be surprised. again, the jury is out but sentiment is yes you will see it in the northern hemisphere summer for the fed and it could even be this month. let's wait and see. peter maguire speaking to me a little bit earlier and if you are in the uk brace for more disruptions for the next six days. this is after an overtime
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ban by union training drivers and it will affect 15 rail companies and signals at the start of more disruption in a long—running dispute over pay. mark ashdown has more. this industrial _ mark ashdown has more. this industrial action _ mark ashdown has more. this industrial action is _ mark ashdown has more. in 3 industrial action is short of a strike day but drivers will not work overtime from first thing tomorrow until saturday night so six full days in total. that is important because most train companies rely on drivers working that overtime in order to run their full schedules. so this action will affect 15 operators running services across england. let's have a look at of them. we have got thameslink and southern down here. great northern, of course, lner and avante west coast — they run trains all the way from london up into scotland. so what can we expect? well, many have said they will have to run at reduced timetables. for example, some may cancel the first and last trains of the day. there could also be some short notice cancellations, as well. so, as ever, passengers advised to check before you travel. now, this dispute, of course, is about pay. aslef has rejected
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an offer of a 4% rise backdated to last year and a further 4% this year. the operators and the government, of course, wanted the union to agree to changes to working practices, to modernise the railways. the good news, aslef doesn't have any full strike days planned at this stage, but the other railway union, the rmt, they are also in dispute over pay, jobs and working conditions, and they rejected a similar pay offer. and as you can see, they are planning three further 24—hour walk—outs on july 20th, the 22nd, and july 29th. they will involve guards and station staff. so, no further negotiations between the companies and either union are planned. i'm afraid there is a summer of rail disruption looking increasingly likely. mark ashdown reporting there. electric cars have been promoted as one of the solutions to reducing the world's dependence on fossil fuels and its production has increased significantly around the world but a report from the
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university of technology in sydney says switching to electric elcteric cars could electric eleri could actually electric cars could actually cause more problems for the environment. also domination is an author of that and she explained why.— explained why. evs are important _ explained why. evs are important and - explained why. evs are important and they - explained why. evs are important and they are | important and they are important and they are important in terms of combustion vehicles right now and we know they are increasing demand for about transition minerals so this includes lithium, cobalt, copper, graphite, nickeland rare lithium, cobalt, copper, graphite, nickel and rare earth and we know that there is a new mining happening across the globe which is leading to some human rights impact and also environmental harm. e35 environmental harm. ev production _ environmental harm. ev production has been backed up significantly. is it too late when it comes to that impact, what you said about mining? it is not too late. ev production will continue for the next decade and onwards, so it is important that we think about
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how we can be mining more responsibly to ensure that we are protecting biodiversity, we are protecting biodiversity, we are respecting indigenous rights. are respecting indigenous riahts. �* , ., are respecting indigenous riahts. a ., ,, rights. aside from responsible minina , rights. aside from responsible mining. what— rights. aside from responsible mining, what is _ rights. aside from responsible mining, what is a _ rights. aside from responsible mining, what is a better - mining, what is a better solution if not evs? beekeeping we can do to — solution if not evs? beekeeping we can do to decarbonise - solution if not evs? beekeeping we can do to decarbonise the i we can do to decarbonise the transport system as quickly and responsibly is reduce our reliance on cars. we can do that through public transport, making it convenient and safer, and by designing our cities to be easier to get around without driving so we don't need to drivers often. in driving so we don't need to drivers often.— drivers often. in australia where you _ drivers often. in australia where you are _ drivers often. in australia where you are or, - drivers often. in australia where you are or, say, i drivers often. in australia where you are or, say, in| where you are or, say, in america, it would be quite difficult to convince people not to have their own cars? wouldn't that be quite a challenging task? at wouldn't that be quite a challenging task? wouldn't that be quite a challenauin task? u, , challenging task? of course, it is a hue challenging task? of course, it is a huge challenge, _ challenging task? of course, it is a huge challenge, but - challenging task? of course, it is a huge challenge, but at - challenging task? of course, it is a huge challenge, but at thei is a huge challenge, but at the same time, switching every car on the road to a ev is a huge challenge and we need to ramp up challenge and we need to ramp up investment now to think a bit more ambitiously about how we change our transport system.
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the book will tailor whsmith is a familiar sight the book will tailor whsmith is a familiarsight in the book will tailor whsmith is a familiar sight in the uk but you might see them more in the united states as well. the boss of whsmith told the bbc he is focused on expansion in america and europe. we focused on expansion in america and europe-— and europe. we opened our first to store at _ and europe. we opened our first to store at euston _ and europe. we opened our first to store at euston station - and europe. we opened our first to store at euston station in - to store at euston station in london back in the 19th century so we have had stores in travel for 180 years. one of the first ever airport stores was heathrow, and we had a store at heathrow, and we had a store at heathrow airport back 85 years ago. we have always sold products that people need for their travel journey. increasingly, we have branched out into selling all of the travel essentials that people need for their journey, travel essentials that people need for theirjourney, so, tech accessories. products that make your hardware work. health and beauty, pain relief, as well as food to go — all of those products. about four
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years ago we acquired a business in the us called in motion which sells attacking salaries and a year after that we acquired another business in the us called mrg and they have a variety of brands so in america we have got lots and lots of different retail brands and the difference with our american businesses, we almost a bespoke retailfor airports. so, we sit down with an airport and we talk to them about the sort of brands that they want and be sort of product categories that they want and then we design specific brands for them. then we design specific brands forthem. so, in the then we design specific brands for them. so, in the us we have probably got the best part of 30, 35 different patients of stores. in the uk, and europe, it is mostly about whsmith and in motion, albeit we do have a few extra souvenir brands that we put in place as well. find few extra souvenir brands that we put in place as well.- we put in place as well. and a cuick we put in place as well. and a quick look _ we put in place as well. and a quick look at _ we put in place as well. and a quick look at the _ we put in place as well. and a quick look at the japanese - quick look at the japanese markets. the uk doing quite
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well thanks to that survey. that is it from the programme. thank you so much for watching. i actually thought at the time that i must be dying or something because i could not breathe. i had lights in my eyes. i thought i was going to pass out. ijust went eyes. i thought i was going to pass out. i just went to a random doctor and i said i needed some help. i did not know what was going on. andrew had no idea _ know what was going on. andrew had no idea he _ know what was going on. andrew had no idea he was _ know what was going on. andrew had no idea he was suffering - had no idea he was suffering from anxiety and panic attacks while running his construction company. i while running his construction coman . ., while running his construction company-— company. i ignored it for so lona company. i ignored it for so long and — company. i ignored it for so long and for— company. i ignored it for so long and for about - company. i ignored it for so long and for about a - company. i ignored it for so long and for about a year i long and for about a year because i did not think that i needed any help. the because i did not think that i needed any help.— because i did not think that i needed any help. the gp dealt with the physical _ needed any help. the gp dealt with the physical symptoms i needed any help. the gp dealt| with the physical symptoms but andrew was able to talk when he met kerry from the charity mind who he is now working with to encourage his staff to be more
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open about their mental health. gareth has worked in the construction industry for decades and says that is what he calls a lad's culture bareman do not feel comfortable talking about mental health. indie talking about mental health. we want to talking about mental health. - want to build a building, get a job done, we work in the rain, in the snow and we just suck it up. in the snow and we 'ust suck it u -. in the snow and we 'ust suck it u . _ , ., , ., up. there is a stigma in the industry — up. there is a stigma in the industry that _ up. there is a stigma in the industry that admitting - up. there is a stigma in the i industry that admitting mental health problems might affect theirjob. momentum is building towards a change in an industry that many feel has been quiet on a mental health for too long. on a mental health for too lonu. ., on a mental health for too lon. _ ., ., on a mental health for too lonu. ., ., ,., , on a mental health for too lonu. ., ., , ., long. for more stories from across the _ long. for more stories from across the uk, _ long. for more stories from across the uk, head - long. for more stories from across the uk, head to - long. for more stories from across the uk, head to the l long. for more stories from . across the uk, head to the bbc news website.
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in amongst these professional musicians from the orchestra of opera north are students from the royal northern college of music here in manchester. it's a spectacularform of learning on thejob. the college became the royal northern college of music in 1973. it was founded by sir charles halley 80 years earlier. today, 900 students study each year from 60 countries studying in schools dedicated to disciplines like strings, percussion, popular music. musical history is important here, too. back to the modern day, though, and playing with 0pera north will be lizzie, who wants to work as a music therapist with young people, and marcus, who is from brazil. really exciting opportunity
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for us all to be able to perform alongside industry professionals. when i told people i'm moving to the uk and everyone will be like, "oh, are you going to, london?" then i was like, "no, no, i'm going to manchester." we've got some - incredible orchestras — the bbc phil, the - manchester camerata, of course the halley. we've also got things - like the manchester collective as well. it's a really buzzing classical scene. - the royal college's 50th anniversary celebrations culminate with a collaboration with manchester international festival on 8 july. voiceover: for more stories from across the uk, head to the bbc news website. hello there. i'm 0llie foster. here's what's coming up for you on sports day. there's another stunning innings from stokes, but it's not enough to save the second test for england as australia take the tempo as the last a 2—0 lead in the ashes. but did they win within the spirit of the game?
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jonny bairstow�*s dismissal led to australian players being verbally abused. three members at lord's have been suspended. it's now five formula one wins in a row as verstappen stretches his lead in the drivers standings and on the eve of wimbledon last year's runner up, nick kyrgios, he's pulled out with a wrist injury. hello there. hello there. welcome along. well, where do we start? welcome along. well, where do we start? in cricket, australia have gone 2—0 up in the ashes series after a highly charged and dramatic final day in the second test. ben stokes' magnificent century was in vain as australia won by 43 runs they had resumed. needing another 257 runs, england with six wickets in hand. the captain stokes looked
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as though he would carry england to victory as he upped

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