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tv   Asia Business Report  BBC News  April 19, 2024 2:30am-2:46am BST

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we began with some live pictures are from india which starts voting today, the world's most popular country has over 950 million voters, my colleaguejoins us. it's has over 950 million voters, my colleague joins us. it's only a day one of a six—week along election, tell us how things have gotten under way? just a fact that time. _ have gotten under way? just a fact that time. gives - have gotten under way? just a fact that time. gives you - have gotten under way? just a fact that time. gives you a - fact that time. gives you a sense of the skill of the elections which have been held in the was largest on in a massive exercise by election officials. we currently in the city of shehnai, the southern state of tamil nadu. there are 39 lawmakers sent from the state into the parliament and all of those 39 seats will be voting through the day today. tamil nadu as a state, from an economic point of view, has been very important, it found in self in the middle of all discussions on policy decisions as well making at the state
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which is the second economy of the country contributing nearly 9% of the country's gdp so that gives you a context of why tamil nadu is important to the political establishment in terms of policy—making as well. we've also seen in the last several many international brands have increased their footprint in the country of late and most one of the most important werai for manufacturer's, foxconn which started manufacturing iphones in india so it is the added element as well. political parties have always showcased before an investment that is, thatis before an investment that is, that is elections, and fire just pull out from tamil nadu and given the picture, there are total of 102 seats which are total of 102 seats which are going to pulse today, out of 143 so it's important to understand that there are issues like unemployment uneducated in the youth struggling to getjobs, question is about public spending which is slowed and also, the fact that there has been pro— inequality in the country as well as all of this is all significant as we track the election.—
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is all significant as we track the election. ., ~ in . the election. thank you so much for aaivin the election. thank you so much for giving us _ the election. thank you so much for giving us the _ the election. thank you so much for giving us the contacts - the election. thank you so much for giving us the contacts on - for giving us the contacts on day one of india's elections. 0ver day one of india's elections. over in the us, netflix kicked off the earnings season for technology giants with the report card which beat expectations. this trimming giant added more than unlit subscribers in the first quarter, technology media analyst ben barringer gave us the numb — the numbers. —— the numbers. the numbers were strong, generally across the was up 15%, very strong margin performance, the guide for q2 is also pretty strong, 16%. so this was an excellent quarter, they are also guiding the full year for 13%—15%. the only issue is the stock is off about 4% after hours and i think the real negative there is that expectations were very high, and, you know, about 9.3 may not be enough for some investors. the other thing that is a slight fly in the ointment is they are no longer going to provide subscriber guidance is an 2025 so that is still three quarters away but some will still be
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disappointed by that. the us house picker will include the tiktok bill in a package of bills that have been fast tracked through congress this saturday. lawmakers want tick—tock�*s own a bytedance to divest its us assets or face a ban. the social media platform has enjoyed explosive growth since the launch in the us in 2018. word has over 150 million users. why man the platform? —— ban. our business reporter, joao da silva, explains. tiktok, one of the hottest apps right now with more than a billion active users worldwide, most of them young and they tend to spend more time on tiktok than on any other app which makes it very attractive for advertisers. but not everybody is happy about it. politicians and the us, tiktok�*s biggest market, had set their sights on the up. they seem to have a problem with tiktok owner — byte da nce. it was created in beijing in 2012 and since then, it's become one of the fastest
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growing companies out of china. and it's precisely bytedance's origin that has us lawmakers worried. they say bytedance is a chinese company and as such, it could be compelled by the chinese government to either give up the data it has on american users or to conduct influence operations among the american public. but according to tiktok, it is a myth that bytedance is a chinese company. the social media company says 6% of bytedance is owned the social media company says 60% of bytedance is owned by global edition investors like carlyle group, general atlantic and sig international group. another 20% is owned by tiktok�*s employees around the world while only the remaining 20% is owned by bytedance's chinese founder. still, that has been enough to convince us lawmakers and they have at least two other reasons for that. under chinese law, chinese companies, bytedance included, must have an in—house group of employees who are communist party members. and there is also a golden share system in place whereby the chinese government has been taken an influential 1% stake in key subsidiaries in data rich companies. regardless of who is wrong and who is right about
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beijing's control over bytedance, tiktok is all the rage right now, one of the world's most downloaded apps and its viral videos have captured the short attention span of an entire generation. it's no wonder then that its owners are fighting tooth and nail against breaking up the tech giant. a key member of the federal reserve which says interest rates in america has told the bbc that the us is in no hurry to cut interest rates. the rafael bostic, the president of the atlanta fed, explained explained why to our editor. i've been saying for a long time that i expect the us economy to be strong, to continue to be strong but not quite this strong. it is much stronger and resilient and i've had expected. the one thing that i would add on this is that inflation is still higher than i would like and we need to get inflation all the way down to 2% target. i'm comfortable to taking a little longer for inflation to come all the way down, if we were doing to create
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a lot ofjobs and i'm not in a rush to get to 2%. the thing that i have to make sure that the economy doesn't start to move in the other direction so that inflationary pressures move up and we start to move away from our target but that's not what i'm seeing now. and so, i'm just going to stay vigilant and make sure that if that does happen, we are ready to act. but in terms ofjobs created, those numbers keep on shocking also, is this the result of what the us government has been doing in sort of pumping the economy? this combination of things that have all added up to much more resilient and robust consumer and then businesses have also been able to fill in because it had a lot of immigration, a lot of the supply chain challenges that happened during the pandemic, they are done now as well so it's a combination of factors that has caused us to really continue to be able to grow.
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0bviously what happens to interest rates, you decide those, you help decide those and your current best estimates is that those us interest rates, which you have put up tojoin inflation, only come down a little bit this year and may be at the back end of the year? that's exactly right. the us economy will continue to grow through 2024 but that growth will come with a cost which is that inflation will come down very, very slowly. and because of that, it's going to be important for us to keep our policy at a restrictive level. we will be able to ease some of that restrictiveness at the end of 2024 and i think we probably won't get to target until well under 2025 and another thing that i try to tell folks is, let's be patient. let's not be in a hurry especially since there is so much stuff happening on the unemployment site. tesla shares have fallen to their lowest level in more than a year. and this comes after deutsche bank raise concerns
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over the electric vehicle makers are focused on creating new products like the rubber taxi while this profit is under pressure. and staying with the ev space, could there be more troubles ahead for electric vehicles? writing a literacy cost, plus the end of generous government subsidies have made ev is less popular in some countries. but in norway, nine out of ten cars sold have intellect models. my colleague has been speaking to the state secretary of the region ministry of transport. —— norwegian. i think that the reason for this is that we introduced a broad package of incentives and, of course, you need a good economics, national economics to do that, but we agreed upon a broad package in long—term and medium—term that was predictable for the customers and predictable for the private sector. so, it was both for tax incentives but also user incentives for the customers.
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you know some critics may ask if your incentives have been too successful because the argument is that these generous incentives actually makes norway even more car sentric, as opposed to following other countries models of encouraging people to use more climate—friendly forms of public transport and cycling, for example, but what you have got now in norway is people buying second, even a third car. you've got more cars on the road now. what do you say to those critics? i say it's a good argument. i think it's important to acknowledge that electrical cars have competitive edges to the public transport and we followed that very closely particularly in urban areas are so, we are ready to change the policy if we can see that the market is going on the wrong direction. before we go, let's give you a
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quick look at some live pictures from india. where voting is started today, you can see your appalling station as the cameraman moves around, there it is, you can see people making their way into the polling station to cast their votes. the popular country has been — more coverage on the election across bbc platforms.
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hey, i'm zof with the catch up. we start in scotland, where the government scrapped one of its big climate change targets. their plan was to cut greenhouse gas emissions, which caused the planet to heat up by 75% by 2030. ministers now say that's out of reach. they're blaming uk government cuts and backtracking on climate measures. campaigners say they're disappointed. we are backtracking,
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we are removing targets and we are really looking at the fact that we have not been doing enough when it comes to reducing carbon emissions. scotland's goal of reaching net zero by 2045, five years earlier than the uk as a whole will remain though, net zero means not adding more harmful greenhouse gases to the atmosphere than you'll take it out. next, it's a tough time for a lot of students with exams coming up. but this year, it could be even harder for students with adhd, as there's been a shortage of medication since september. this is because of more demands and problems with supply. some students are even having to ration their medication. alice told us how it's affecting her. i'd be terrified. i genuinely don't know how i would be able to get get through my gcses, especially achieve the grades i wanted to or even, i don't know if i would be able to finish the exam. time now to leave you with ten seconds of a tiktok knitter setting the world record for the most blankets knitted in 24 hours in a charity challenge.
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he knitted 19 blankets in memory of his grandmother who also loved knitting. that is adorable. i love it. you're all caught up now. see you later. hello and welcome to sportsday. i'm gavin ramjaun. coming up on the programme: there'll be no european success in jurgen klopp�*s final season at liverpool, beaten by atalanta in the europa league quarterfinals. there could be glory in europe for aston villa, though, as they cope with the pressure of penalties and reach the semifinals of the europa conference league. getting back to her best: emma raducanu eases past linda noskova to reach the quaterfinals in stuttgart. and a surprise early contender at the chevron championship as world number 94 lauren
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coughlin sets the pace. hello and welcome to the programme. on wednesday, we found out the semifinal line—up for the european champions league. now, we know the final four teams in the europa league and the europa conference league. we'll start in bergamo in italy, wherejurgen klopp�*s hopes of finishing his time as liverpool manager with a european trophy are over after they were knocked out by atalanta. liverpool won the second leg 1—0 but it wasn't enough to avenge their first leg 3—0 defeat at anfield. vicky sparks was watching. after so many down the years, there was to be no great
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european comeback this time for liverpool. hopes were kindled early on when they got off

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