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tv   Asia Business Report  BBC News  April 5, 2024 2:30am-2:46am BST

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our top story today — us treasury secretary janet yellen is in china with a tough message. in her five—day trip, she plans to warn chinese leaders about overproduction, and make the case for american businesses in the country. ms yellen is in the southern city of guangzhou, where she is expected to tell chinese vice premier he lifeng that china is producing too many goods in certain sectors. but first, she'll be hearing from leaders of us companies about how their businesses are faring in china, and how trade tensions are affecting them. william zarit from the cohen group advises western companies operating in the chinese market. he says yellen�*s visit is more about form than it is content. the message for her will be to encourage the us government to continue to communicate with the chinese officials. you know
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for a couple of years there was bad communication, so good communication with chinese officials, and to make sure that the us government understands that having us business in china, active in china, competing in china, is good for the companies and is good for the companies and is good for the united states. the treasury secretary is also wanting to push back on china about overproduction whilst also advocating for favourable conditions for us businesses in china. do you think she's going to be able to achieve that? ho. to be able to achieve that? no, in a word- _ to be able to achieve that? no, in a word. not _ to be able to achieve that? no, in a word. not today, _ to be able to achieve that? iifr, in a word. not today, but i think we need to keep that message coming. you know, if you drop a talking point the chinese will feel, 0k, well, it is sold. so market access will continue to be a strong message, as well as national security. she's going to talking about national security, and perhaps they will talk about some areas where they can cooperate in perhaps
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third world financing, to help alleviate third world debt. overproduction of green tech is one of the issues on yellen�*s agenda. china dominates the sector, and its cheap solar panels are being used around the world. in the last couple of weeks, europe has opened an investigation into the subsidies of solar panels from china. on this week's talking business, my colleague aaron heslehurst talks to a global panel of industry leaders about whether europe and america can catch up, among them the boss of one of europe's biggest solar companies, otovo. certainly, there are enormous amounts of panels already in storage in europe, and there's more coming in our ships every single day. we are looking at oversupply that is enormous. the prices of panels dropped between 35% and 50% in all european countries last year so obviously this is a challenge for everyone whose manufacturing or owning panels in warehouses, but for the consumer, it is excellent news.
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no one has ever gotten as cheap european energy as consumers are getting this year. how many of the solar panels you sell and install come from china? i estimate that about 90% are manufactured by chinese—owned companies and 75% are produced in mainland china. we have certainly seen just what happens when europe becomes dependent on energy sources from potentially hostile foreign powers. do you think this all needs to be de—risked? i think you want the ability to make your own panels, make your own batteries. i think that makes sense, from a security perspective, both energy security and national security. the difference between solar panels and gas is, if you are an exporter, the chinese in this regard, become your enemy, the panels will keep making energy for 30 years, whereas if your gas exporter becomes your energy it turns whereas if your gas exporter becomes your enemy it turns
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off immediately and you get cold immediately, so we have more response time with renewables than we do with fossil fuels, but that doesn't mean we can go to zero. we absolutely need a local manufacturing value chain in europe. samsung electronics estimates operating profit rose ten—fold in the first quarter, reaching a total of nearly $5 billion. rebounding semiconductor prices lifted earnings from a low base a year ago, when there was a severe downturn in chip demand. let's go to india now, where central bankers are set to announce their latest policy decision on friday. analysts say rates are expected to remain unchanged. the bbc�*s arunoday mukharji has more on what to expect and what are the factors likely to drive the bank's decision. there are two major factors that will be on the mind of the officials of the reserve bank of india as they debate on monetary policy. economic growth as well as taming inflation. india grew at a very strong 8.4% in the fourth quarter of 2023.
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inflation, too, moderated to around 5% but still remains above the rbi's target of 4%. officials will also be cautious. india is heading into an intense summer, and policymakers will also be hoping for a normal monsoon. there have been warnings of a heat wave, which could affect agricultural production, once again threatening prices. globally speaking, all eyes will also be on crude oil prices, which, if they remain high, then the rbi will also have to factor the impact of high energy costs on inflation. so considering all of these factors, rates are likely to remain unchanged, say experts. at an event earlier in the week, prime minister modi had said the rbi must prioritise economic growth but at the same time ensure trust and stability. remember, indian elections are just two weeks away, so economic policy is also likely to have political ramifications.
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the republican presidential candidate donald trump is scheduled to be deposed later this month, as part of a dispute over ownership of his social media company — the trump media & technology group — which went public last week. the deposition is scheduled for april 15, which is also the start of trump's first criminal trial. for the latest, here's the bbc�*s north america business correspondent michelle fleury in new york. trump's media company may never be profitable but its shares are valued at billions of dollars, and that has involved fighting over who gets a piece of it. in february, the co—founders of former president donald trump's media company filed a lawsuit in delaware, claiming that mr trump and other leaders had scheme to deprive them of a stake in the company that potentially could be worth hundreds of millions of dollars. as part of that case, mr trump will be deposed by lawyers for andy litinski and wes moss, two former contestants on donald trump's reality tv show, the apprentice.
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the date, well, it coincides with the start of the former president's first criminal trial in new york, however depositions often get rescheduled. this week, trump media filed its own lawsuit against these two co—founders, arguing mismanagement and saying they should be stripped of their shares. this is the latest legal twist, just days after trump media went public, enjoying a remarkable debut on the nasdaq exchange. shares traded at a high of $78, before plunging days later. as many extol the virtues of ai as an innovative tool that will change the face of business as we know it, cyber criminals are also getting to grips with the new technology, creating ever more sophisticated threats to companies' it systems. last year, mckinsey calculated that damage from cyber—attacks will amount to about 10.5—trillion—dollars annually by 2025 — a 300 per cent increase on 2015. my colleague sally bundock spoke to the ceo of a leading cybersecurity company and asked her how businesses can protect themselves.
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we use our artificial intelligence to allow a business to learn their own unique, digital fingerprint, and by having that really good, intimate understanding of them and their organisation, they can then spot when things start to go awry, whether it is from a widespread known attack or a recent form of ransomware or a zero day that is yet to be discovered, or an insider that has gone rogue and is doing something they shouldn't, whatever it is, by virtue of the fact it is not normal for your organisation, will help to identify it but then more importantly surgically interrupted and stop that attack in its tracks. and how do you make sure that you, yourselves, as an organisation, are always ahead in this game, because that's the key, isn't it? it is, and there is a constant wave of innovation that happens
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from cyber attacks, and of course, the recent wave at the moment is all about how are they leveraging artificial intelligence to be able to gain access into business? but our approach has never been to try and predict or second—guess what that attack may be, and instead focus on us and our organisation, and how we may be uniquely vulnerable, and how we can take proactive steps today to harden ourselves against an attack, as well as make sure we are well protected to both detect and respond. before we go... the hard rock band kiss has sold its back catalogue of songs to a swedish music investor for a figure thought to be upwards of $300 million. # i want to rock and roll all
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night... # i want to rock and roll all niuht... �* # i want to rock and roll all night- - -_ # i want to rock and roll all niaht...�* , night... are, you remember it well. stockholm—based pophouse entertainment also bought the group's brand, likeness and intellectual property.the sale marks the band's retirement from live performances on their end of the road world tour. if you're a kiss fan do not despair. the new owners of the catalogue will have the right to produce ai—generated music and content well into the future. that is it for us on this edition of asia business report. see you again on monday. goodbye for now.
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hi. i'm levi with the catch up. tonight, an update on gaza, airport liquid warnings, and an olympic diving fail. first, an update on gaza now, where no aid trucks have entered northern gaza since an israeli strike killed seven aid workers on monday. israel says an investigation is under way, but will take weeks.
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pressure is now growing on the uk to stop weapons sales to israel. a number of charities have paused their operation since the strike, including project hope. it's an ngo that operates a number of health care centres in the region. a very difficult decision. we are running two primary health and maternity health care clinics in gaza, and it was a decision made by our staff. we've got a team of 30 on the ground, doctors and nurses. they felt like they needed to stand in unison with their colleagues at world central kitchen. and some other stories now. good news if you're travelling in london — the tube strikes, starting next week, have been called off. aslef members were meant to walk out for 2h hours on monday 8th of april and saturday 4th of may. and if you're planning on going away soon, you will have to keep measuring the liquids in your hand luggage. some of the uk's major airports, including gatwick, heathrow and manchester, are expected to miss the deadline for new rules to allow liquids over 100
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millilitres. and time to leave you with ten seconds of diving. have a look at this diving fail. 26—year—old 0lympic diver alexis jandard slipped and fell during a ceremony to open a new 0lympic centre in the north of paris. you're all caught up now. have a good night. hello and welcome to sportsday. i am tulsen tollett. punching their way to the top asjurgen kloppmet liverpool beat sheffield united 3—1 and returned to the summit. euro 2025 qualification starts on friday for england's women, as they begin their title defence.
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and the wta is taking its best players to a new home. the tour�*s finals tournament will be hosted by saudi arabia for the next three years. hello and thanks forjoining us, where we start with football, and the news that liverpool have returned to the top of the premier league, after a 3—1 win over bottom of the table sheffield united. after darwin nunez capitalised on a goalkeeping error, it looked as though the hosts would cruise to victory at anfield, but a conor bradley own goal left the crowd on edge. it levelled matters shortly after the break. then alexis mac allister�*s thunderbolt, and cody gakpo
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finished it late on and took the merseysiders two points clear of arsenal

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