Transcripts For BBCNEWS Asia Business Report 20171024 : vima

Transcripts For BBCNEWS Asia Business Report 20171024

Within the cabinet. Now on bbc news all the latest Business News live from singapore. A former hatejust a former hate just be trader is found guilty of fraud in 3. 5 billion currency deal. We check out how the shopping with science and the customers the guinea pigs. Good morning asia, hello word. It is tuesday and glad you could join us. We start off in the us and according to new york, they have found a former hsbc traded guilty in defrauding a 3. 5 billion currency deal in 2011. Markjohnson has been accused of exploiting confidential information. Joining us is our business reporter, monica miller. This court case is being closely watched in the Financial Community . Absolutely, it took the jury in brooklyn two and a half days to find him guilty of defrauding his clients in 2011. What prosecutors argued is johnson, with his colleagues at hsbc, inflated sterling right before they converted three and a half billion dollars into sterling and what he got in return was 7 million in profit for the bank. Prosecutors used audio recordings and probably the most incriminating one they had was one of him saying, i think we got away with it. Johnsons lawyer says his client is innocent and his words were taken out of context. Monaco, what makes this case so unusual because banks for many years have been known to manipulate the currency markets . You are right, but what makes this case difference is they went after an individual and he went on trial in the us. Johnson, he could potentially get 20 years in prison when he is sentenced later this year. This is the beginning of a larger case. The Usjustice Department worked with uk officials in looking into a huge, global the nippy laois and of foreign currencies. They are looking at stuart scott, another colleague, who left hsbc bank in 2014 but is now fighting extradition to the us. This is something we should be watching over the next days and weeks. Moving to other news, the Us Commerce Department is levying preliminary anti dumping duties on bio diesel from argentina and indonesia. The fuel has arrived from animal or vegetable fat. It is rated at 70 . A final decision will be reached in early november. Chinas Biggest Online Publishing Company is looking to raise 1 billion through additional public offering. China literature, plans to list in hong kong next month. They posted a profit of 6. 4 million last year after previously losing money. German car makers has had their premises searched by european officials as part of an investigation into possible cartel behaviour. Bmw were raided last week by anti trust investigators. They are looking into allegations that the german car industry colluded on technology and diesel prices for decades. Singapore has placed a in car ownership preventing citizens from buying new vehicles until this policy is reviewed again in 2020. The transport authority says the lack of available land and funds in public transport justified this lack of available land and funds in public transportjustified this new policy. Singapore has more than 5. 6 million people, butjust 600,000 cars. Meanwhile, 12 major cities around the world including london and la have said they will only buy zero emission buses starting in 2025, the decision is part of effo rts 2025, the decision is part of efforts by municipal governments to fight climate change. But beyond government policy, how can the private sector play a role . Earlier i pose the question to the former president of costa rica, who now has a think tank devoted to finding Business Solutions to environmental problems. More businesses are understanding that reducing Carbon Emissions is also a contributing to the bottom line of their business. You look at that, mainly in the Energy Sector but other sectors as well. Have you got any examples . Shipping. You have 50,000 ships are patrolling the oceans. They go up in a dry dock every five years. If you ta ke a dry dock every five years. If you take that opportunity to invest 2,000,006 or eight technologies, you roll them off from the dry dock consuming 20 less fuel which goes directly to the bottom line and 20 less emissions. It is easier said than done because a lot of businesses are saying to reduce Carbon Emissions is also heavy on the pocket. It is capital intensive. To start any business you are required to do some investment. Transition to a low carbon economy, providing jobs as we do it and creating new Business Models is all in line with reducing Carbon Emissions. This is the great opportunity of humanity to reinvent ourselves along a different, cleaner economy. As a former head of state of costa rica, how important is that governments get on board, notjust for policy but also to incentivise the private sector . Governments have two responsibilities. 0ne the private sector . Governments have two responsibilities. One is sending the correct signals to markets, in terms of where we want to go with the Green Economy and the other one is becoming an example, governments purchase, they can purchase green. Governments can bring out regulation and good quality policy. That is what Good Governance is all about. That is what is required as a complement to the investment of the private sector. But governments may have policies, but it is also about implementation and political will. Do governments have that right now . More and more you are seeing that and you had shining examples of that in asia. What china is doing is absolutely incredible. What india is 110w absolutely incredible. What india is now doing, even beyond what they had to do, is frankly, breathtaking. The former president of costa rica and now, with the carbon war room. Whether you view shopping as a passion or a punishment, whether you view shopping as a passion ora punishment, did whether you view shopping as a passion or a punishment, did you ever think the items you buy are influenced by subconscious queues. It is something retailers and companies are keen to find out. We went to a shopper s science lab equipped with state of the art technology. We are in something of a shopper science lab, it looks like a regular store but it is a mock up. It has been set up by consumer health. Tell us about why you have set this up . This facility is a place where we intend to work with both shoppers and Retail Partners to help understand how, when shoppers walk into a shop like this, how do they navigate and interact with the category, how they look at brands. You are in the asia pacific reason for the first time and we will see a typically asian store. Where is this from . This is intended to reflect the store in a place like india, where in like some of the other countries you have smaller formats, more clutter and more dimly lit. The way shoppers interact with the brand and the category could be different from the way they do in a typical modern trading environment. You said her shoppers interact, how do you monitor that . What you see is new technology that we have, which is i tracking. I will demonstrate this by putting on these glasses and looking around the shelves. It is all about Product Placement . When you wear these glasses and sharp doing the shopping mission, we can understand at what sequence and where you are looking. What do you do with a wall like this specifically when it comes to Product Placement . This is a digital wall where you can move products and brands around from one sheu products and brands around from one shelf to another and finally arrive atan shelf to another and finally arrive at an optimal placement for all brands which can help enhance retail value and like i said, make the whole shopping seamless and painless for the consumers walking into that store. We have just left the science lab because the reality is, customers are shopping online. So tell us, how are you tracking that . The camera in front of me has calibrated my eyes in a way where the orange. You see on the monitor to your left is how i am looking and where my gaze is going. Using this research data, we can understand how to optimise and mobile commerce site, where do we placed the brands, how do we get them to navigate the whole store online better. So basically to determine how customers shop. Thank you for showing us. And the science of shopping in the markets, it could be volatile for asia this tuesday after us stocks we re asia this tuesday after us stocks were down in the technical and industrial sectors. Thank you for your time. Sport today is coming up next. The top stories this hour the final day of chinas 19th Party Congress is taking place in beijing, with president xijinping looking set to be confirmed as chinas most powerful man in decades. Singapores Prime Minister lee tells President Trump the us must use dialogue, not just pressure, to ease tensions with north korea. Clean air campaigners say new measures designed to improve air quality in london dont go far enough. Drivers of some older vehicles will pay an extra £10 to enter central london. The toxicity charge applies mainly to diesel and petrol vehicles registered before 2006. Richard westcott reports. London has some of the most polluted streets in europe. Swimming in nitrogen dioxide and tiny particles, invisible, unless you use a special camera. Its a hidden killer, pollutions linked to lung and Heart Disease with children the most vulnerable. What i am in favour of is encouraging people to change their behaviours so they stop driving in the most polluting vehicles for a start, moving to either public transport, walking or cycling or cleaner forms of cars and vans. From today, anyone crossing this line in an older vehicle is going to have to pay an extra £10 for the privilege. It looks like its already affecting peoples behaviour. So when they first talked about this scheme back in february they said around 10,000 vehicles a day would have to pay. A few months later, theyre nowjust talking about 6,500 vehicles, so it suggests people are changing their cars and vans. It will affect many vehicles registered before 2006. If you include the congestion charge, midweek drivers could actually pay more than £21 a day. Critics say it will put Small Businesses under pressure, like barry neil who mends computers, then couriers them around the city. More than 50 of our business goes in via small courier companies. T charge means theyre going to put their prices up, or effectively go out of business which means therefore we are going to have to use Bigger Companies which raises our bottom line which means we have to pass it on to our clients, so were going to be more expensive. 0thers worry the new charge penalises drivers with less money. It can be difficult for people with older vehicles that have to either get rid of them, buy a new one, or stump up and pay for it. Its going to put a lot of poor people, people that cant really afford it in the first place, what are they going to do . Its pretty difficult. Its notjust a london problem. Many city leaders are looking at cutting pollution with plans announced next year. In glasgow, theres talk of a similar low emotion zone, although its not clear if drivers there would pay. Meanwhile, the london zone will be extended in a few years with even tougher rules on who has to pay to come in. Richard westcott, bbc news. Coming up on sport today. Cristiano ronaldo claims the best fifa mens player award ahead of lionel messi and neymar. Simona halep snaps caroline garcias 11 match winning streak and earns herfirst win as world number one. And pakistan complete a 5 0 series whitewash of sri lanka with a nine wicket win in sharjah hello and welcome to the programme, where we start with the news that Cristiano Ronaldo has won the fifa best mens football award for player of the year. Its the second Consecutive Year that the portuguese captain has won the award. 0ur reporter mani djazmi was in london for the gala event with news of that and other awards on offer. The london palladium behind me was the latest stop in the Cristiano Ronaldo trophy tour. Its back to back fifa best awards for him now, just like it was back to back Champions League the railmen madrid in may. The netherlands men continue to languish, their women are flying. Serena beekman is the womens coach of the year and the leak of martin is the player of the year after they both masterminded the European Championship success. In his 40th

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