And you can find background to all our main stories on the bbc news website. Log on to bbc. Com news or download the bbc news app. Now, live to singapore for Asia Business report. The chips are down. South Korean Semiconductor exports slumped by 13 as it tries to resolve a dispute with japan. Silver economy and Silicon Valley, while the worlds Biggest Technology Companies May be undervaluing their more experienced workers. Hello and welcome to Asia Business report. Im sharanjit leyl. Well business report. Im sharanjit leyl. We ll start business report. Im sharanjit leyl. Well start with the dispute between japan and south korea, because their Foreign Ministers meeting in beijing is the ongoing dispute continues to hit businesses in both countries. In earlyjuly, tokyo hit businesses in both countries. In early july, tokyo restricted hit businesses in both countries. In earlyjuly, tokyo restricted exports of materials critical to south koreas Semiconductor Industry citing National Security concerns. We are seeing evidence of the impact on the south korean economy and our business reported mariko oi has been following the story. Mariko, weve had some new numbers out of south korea this morning. What do they tell us . Thats right. The impact is quite severe. We saw the new numbers out of south korea for the first three weeks of august, experts were down sharply exports, over 13 30 for chips. We saw a lot of consumers, meanwhile, in south korea boycotting japanese products as well and that has been hitting some of the countrys biggest brands from japanese beers too, guess what . Hello kitty. But the biggest impact is on the tourism industry, in both countries, actually, with airlines announcing cuts or a complete suspension of their face. This announcing cuts or a complete suspension of theirface. This is why good us japanese tourists to south korea make up the Biggest Group of visitors in the region, while south korea says the most tourist to japan after china, accounting for 24 of all foreign visitors to japan last year. There have been a number of cancellations already and its likely this years figures will be affected because of this dispute. And i must say, the one industry that seems unscathed appears to be entertainment. A popular k pop group, bts attracted thousands of fans but in the past, boycotts of ja pa nese thousands of fans but in the past, boycotts of japanese products in south korea, in 1995 and 2001, they talk about a year to cool down. So, can the Japanese Foreign minister sort this out . Here is his to eat, meeting with a Chinese Foreign minister yesterday. You might find this a little strange for china to be paying the mediator rolled given the wartime past, but that is exactly whats happening. The three ministers will be meeting in beijing and there will also be holding bilateral talks. I cant the other side does make either side, japan or south korea backing down. Either side backing down. Eight in other news, donald trump has announced his considering announcing another payroll tax cut to biz the economy. White house officials had earlier dismissed reports the white house was discussing the move. He believes america is not heading into recession and again criticise the countrys andrew banks. Recession and again criticise the countrys andrew bankslj recession and again criticise the countrys andrew banks. I think the word recession is a word that is inappropriate because it isjust word recession is a word that is inappropriate because it is just a word that certain people, i will be kind, certain people in the media are trying to build up because they would love to see a recession. We very farfrom a would love to see a recession. We very far from a recession. Would love to see a recession. We very farfrom a recession. In would love to see a recession. We very far from a recession. In fact, if the fed would do itsjob, i think we would have a tremendous spirit of growth. Its worth noting that fed chairmanjerome growth. Its worth noting that fed chairman Jerome Powell growth. Its worth noting that fed chairmanJerome Powell has repeatedly stressed the importance of the Central Banks independence from political pressure and its commitment to transparency and accountability to congress. Now, our company is changing the way they operate . Well, on monday chief executives from some of americas biggest businesses pledged to shift their priorities away from the shareholder first ideology and focus on social priorities, including threats from climate change. Now, a newly released report from the World Wildlife fund has found that banks in Southeast Asia are not responding fast enough. The wwf buzz make sustainable banking assessments at 35 banks and the other young region are lagging behind in their lending practices, policies and a series of criteria used to assess how they stack up asean region. According to the report, only 9 of asean banks have a strategy to manage climate related risks and a staggering 91 of the banks in the region continue to finance new coal fired power plants. I spoke to jenny stan, the head of asias Sustainable Finance at wwf who told me more about the report. Southeast asia is extremely vulnerable to climate and Natural Capital risks. If we look at some of the projections, they are quite alarming in terms of projected sea level rise, inundation risks from bangkok for example, north jakarta, due rise, inundation risks from bangkok for example, northjakarta, due to unsustainable groundwater use. And these of course impact real assets, physical assets, underground. We have a deforestation issue, as well as in economy, a deforestation front where we have unsustainable infrastructure and Mining Industries that are continuing to drive deforestation. So, the other aspect is of course coal, we have asean still being powered by coal fired power plants that its the only region where the projections are to raise a significant degree stop thats where these other two key issues that need be resolved. How do Financial Institutions get involved in improving their sustainability and Environmental Protection records . Sure. If we take a step back, banks have a crucial role to play in driving sustainability because they can use the cost of capital, the access to capital, to incentivise or to require certain behaviours of their clients. And also we need the banks Balance Sheets to finance the huge and sustainable developments. A study has shown there are opportunities with three chilean dollars within two for renewable energy, Energy Efficiency and sustainable agriculture. So in orderfor banks to have resilient Business Models and contribute to sustainable development, we have to have a robust architecture of sustainable banking. Thats why weve created this framework, which has six pillars. What is the purpose of the bank . Do they align themselves with the values that Society Holds today . Do they understand they have an impactand do they understand they have an impact and contribute to a climate and other Environmental Issues . How do they encapsulated all of these . Now, all this week, when looking at the challenges facing older workers. Today were heading to Silicon Valley where the workforce is often so young that people start to deal marginalised in their mid 30s. Feel marginalised. Our reporter dave lee examines whether experience is being undervalued and whether it is about to become the next hot commodity. The phone stopped ringing. Its very hard to get return phone calls and e mails. Steve reinhardt has more than 20 yea rs of Steve Reinhardt has more than 20 years of experience in Silicon Valley and elsewhere, getting work here used to be a doddle, but then things started to change once he turned 50. He was applying forjobs in which he should have been an extremely strong contender. I would say 85 of the time, those jobs went to people who were 10 15 years younger than me. You start blaming yourself and you start to question yourself and you start to question your own abilities. He probably shouldnt blame himself. Across the Silicon Valley, the average age of employees is strikingly low. According to independent research, the average worker at facebook is 29. By the numbers on, its 30. But there is a movement to help those who want to stay relevant and fulfilled at sillicon valley firms. This is a meeting of a group called the modern elders, a community of older, mostly tech workers, who come here to network and learn how to adapt their skills. There is a lot of fear. People feel like theyve put a lot of time and energy into a company, extremely dedicated, and then all of a sudden youre obsolete. There is a lot of energy and interest in millennial zande the Younger Generation and, so of course as we get older, its really a question of wheres our place . The people here all seem to set something in common, theyve had to rebuild their confidence in order to bring their perspective to their sillicon valleyjobs. The man behind this movement thinks companies should see hiring them notjust as an obligation, but an opportunity. Chip connolly founded the modern elder group and literally wrote the book on the benefits of experience and more importantly, wisdom in the workforce. At 58, he is much older than many of his co workers at abbey b b, where he is head of strategy. 0nly b b, where he is head of strategy. Only 8 of companies that have a Diversity Inclusion programme have expanded that to include age. Its just as relevant a metric of diversity as, say, race or gender. Rural living longer, and in fact most of us are going to work longer. Some by choice, some by necessity we are all living longer. So we need to figure out how do we help these modern elders to help them have a continuing role in the modern workplace . A quick look at how the asian markets have opened now, you can see the nikkei injapan and all 0rdinaries in australia are low. There are lots of lingering worries about the trade row and of course concerns around the political crisis in italy, which drove a lot of european stocks down yesterday. Thats it for this show. Thanks for watching. This is bbc news the top stories this hour australias court of appeal has dismissed Cardinal George pells appeal against his conviction for sexually abusing children. He is the most senior catholic official to be found guilty of the crime. Italys Coalition Government is in turmoil, the Prime Minister resigned after attacking his deputy, the populist matteo salvini. A man has appeared in court charged with murdering a Police Officer who was killed while investigating a burglary. Jed foster, 20, appeared at Reading Magistrates Court charged with the murder of 28 year old pc Andrew Harper, and the theft of a quad bike. He denies the charges. Daniel sandford was in court. Being brought upstairs in handcuffs at Reading Magistrates Court today, jed foster, who was charged last night with the murder of pc Andrew Harper. The 20 year old is also accused of the theft of a quad bike, just before the Police Officer died. Pc harpers family came to court to see the man accused of killing him in person, to bear witness to his first appearance in the dock. During the two minute hearing, jed foster simply confirmed his name, date of birth and his address near reading. His family were also in court, including his mother, holding a teddy bear, and afterwards, his solicitor made this statement. On behalf of him and his family, he emphatically denies any responsibility or involvement in the horrific murder of pc Andrew Harper. We urge the police to follow every single line of inquiry to prove who is responsible and to ensure that there is justice in this case. Pc Andrew Harper was the first Police Officer to die in the line of duty for more than two years. He married his wife lissiejust 28 days before he was killed. Pc harper had been called out on thursday night to reports of a burglary and a stolen quad bike, but somehow he ended up under a vehicle, being dragged across the busy all, and ended up being treated for his fatal injuries in that road on the other side of thejunction. This afternoon, scene of crime officers continued to work at a local travellers site and on nearby roads, while the nine other people who had been held on suspicion of murder were released on police bail until next month. Pc harpers death has been felt very deeply in the wider police family, with officers from forces across england laying flowers at the crossroads where he fell. Daniel sandford, bbc news, berkshire. The name of the next james the name of the nextjames bond the name of the next James Bond Film will be revealed, it will be cold no time to die will star daniel craig, his last outing as james bond and rami malek will play the villain. Those are the headlines. Now on bbc news sport today. Hello, im Tulsen Tollett and this is sport today, live from the bbc sport centre. Coming up on this programme knocked on the head australias star batsman steve smith is ruled out of the third ashes test against england at headingley all to play for after ajax see new sair maz rowee sent off in their goalless draw in cyprus against apoel nicosia. And Major League Soccer is heading to saint louis. The city will have their First Franchise in 2022. Hello and welcome to the programme where we start with the cricketing news that australian batsman steve smith has
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