hello and welcome to asia business report. i'm arunoday mukharji. we begin in the us, where the tech—heavy nasdaq ended the trading session sharply higher. you can see 1.37% up. google parent alphabet and advanced micro devices, or amd, also leading the rally. shares of alphabetjumped more than 5% with optimism over its newest ai model, gemini. and amd soared nearly 10% after the chip maker released a new ai chip to rival nvidia's. meanwhile, data showed that the number of americans filing forjobless benefits increased less than expected last week. a labour departmentjobs report out later on friday could sway whether the us central bank starts cutting those high interest rates. from new york, michelle fleury has more. we should get further evidence that there's a real slowdown happening in thejobs market.

employers are growing more cautious, putting off hiring. employees are sticking around longer. one caveat — we could see some distortion to the numbers. the auto and actor strikes both ended in november with many returning to work that same month. plus, the end of the year is when many seasonal workers get taken on. now, america's central bank, the federal reserve, will be watching closely. that's because slowerjob growth and wage gains will fuel expectations that the fed will leave rates on hold. rates have risen to above 5% from nearly zero since march of last year as it wrestles to bring down inflation. the jobs report is the last significant piece of economic data before the us central bank's rate setting meeting next week. now, we should note that despite expectations for a slowdown, america's labour market remains strong by historical standards. still, if economists frequently use the word resilience to talk about the economy in 2023, they may be looking for a new word in 202a.

we are waiting for those numbers from the us on friday. let's get you some more numbers now. japan's economy contracted by 2.9% from july to september compared to the same quarter last year. the figures were worse than expected. household spending also fell for the eighth month in a row and real wages declined for a 19th consecutive month in october, showing that price pressures continued to affect purchasing powers. more news. china and the european union are major trading partners but they have agreed their trade relationship needs to be more balanced. the two sides met on thursday — their first in—person summit forfour years — but there was no sign of resolving differences on a range of issues. the bbc�*s stephen mcdonell has more from beijing. nobody expected there to be any great breakthrough as a result of these high—level meetings. the point is having the talks themselves, and both sides have welcomed this chance to increase their dialogue. xijinping even spoke about the good momentum

in terms of relations between china and europe. but the differences between them are stark. from the outset, the president of the european commission put trade at the forefront. in the opening meeting with xi jinping, she spoke about the clear imbalances in trade between europe and china. now, what this is all about is european companies are saying they can't get access to the huge chinese market because of these artificial impediments which have been put in place by the chinese government — for example, tariffs or local government support for the electric car market here. they want to sell more european cars into china. now, the chinese government is saying, though, this was a temporary measure, just needed to get evs off the ground in the first place. eventually, that will stop. the point is when? now, on the chinese side, they're saying they don't want there to be blockages

in terms of the sale of, say, microchips. now, the sale of chips is being blocked because of supposed concerns that they're being used as part of china's military build—up. despite the meeting, no sign of any concrete agreements. everyone told me what the impediments were. == everyone told me what the impediments were. -- perry. before the — impediments were. -- perry. before the pandemic, - impediments were. -- perry. before the pandemic, the - before the pandemic, the trading relationship between the us and china was rocky from time time but more or less i think 0k time time but more or less i think ok on both sides but after the pandemic and i think after the pandemic and i think after the pandemic and i think after the decoupling and the risk and then the chinese government responding by setting up their own internal circulations and depending more on their local or domestic supply chains. and also i think the geopolitical war in europe and maybe russia and ukraine changed the energy landscape.

so the cost of production in europe i think is off the charts and by that measure, the trade export to china, i think, become less competitive at the same time. i think the chinese government has subsidies inaudible and they come with many questions. ajudge has ruled the boss of finance must remain in the us until his sentencing. changpeng zhao pleaded guilty to anti mundlak report money laundering charges and agreed to pay more than $4.3 billion in fines. he faces a maximum prison sentence of 18 months. eu leaders are divided over how to regulate artificial intelligence in the western world. they held 24 straight hours of negotiations early this week and will resume discussions on friday morning. among the more contentious issuesis among the more contentious issues is biometric surveillance. the efforts to

regulate seem promising. it’s surveillance. the efforts to regulate seem promising. it's a real win for _ regulate seem promising. it's a real win for the _ regulate seem promising. it's a real win for the ai _ regulate seem promising. it's a real win for the ai industry - real win for the ai industry and given the breadth of companies involved and the breadth of countries, we expect there will be better regulation that comes out of it, more trusted secure ai and the opportunity for more innovation and collaboration in the space. speaking of more collaboration, what do you make of the eu's push to approve what has been called the world's first comprehensive artificial intelligence rules? they are actually ahead _ intelligence rules? they are actually ahead in _ intelligence rules? they are actually ahead in the - intelligence rules? they are. actually ahead in the industry in terms of trying to quantify this and put risk and teeth behind regulations but it's no surprise that when the river meets the road, people want innovation, they also want security and both of those are highly debated topics with the eu act at this moment. we expect to hear more tomorrow.

there have been giant leaps in the sector, we keep covering those leaps. what more really needs to be done to ensure more checks and balances, and do you see the grounds for that or the foundations of that happening? i think there is a real tension between the desire to innovate and that need to make sure that we are using the right data, that we are protecting individuals as we use that data, and we are not overstepping our boundaries. so that's the big issue. i think when we look at regulation everybody is saying, hey, how do we regulate? but that business tension for innovation is still there, and this is where we see places by ai lands trying to come in, trying to balance multiple stakeholders in terms of pushing ai forward. we're going to see a lot of research and improvement in chips and will see a lot of big models. shares in lululemon have fallen by about 2% after the sportswear brand struck a cautious tone for the holiday season despite boasting strong results in thejune — september quarter. the forecast for the end of the year is similar to what we've heard from other us retailers like walmart and best buy. fortnite is one of the biggest video games in the world. now, it has joined forces with lego to try to appeal

to younger players. but the move is proving controversial. marc cieslak has more. the massively popular video game fortnite has launched a high—profile collaboration with lego. while fortnite is famous for blasting, building and last player standing battle royale, this new game is a survival crafting title, heavily leaning into the crafting element using lego bricks. fortnite is no stranger to controversy with questions being raised about child safety in the game since it first launched. it has in—game purchases which used to be loot boxes and it has the ability to talk to other players, so when i'm talking to parents, what i wanted to make sure is that they understand that experience before they hand it over to their child. so, how has its developer, epic games, addressed these issues when working with famously family friendly lego? we've been on a journey. you don't implement these features in a week or a day. like, these are things that we've been building for years and years. and so, one of the things that we recently implemented

was a rating system. so, each piece of content is rated appropriately for the audience and we allow, through our parental controls, the parents to decide what type of content their kids will be able to see tonight. it's clear that this collaboration between lego and fortnite is about making the fortnite ecosystem more appealing to younger players. but for a game which has attracted criticism from a wide variety of different quarters — parents groups, even prince harry — is seeking ever younger players a wise move? you can apply some of the criticism that's been levied at fortnite to video games in general, and a lot of that criticism is how are they interacting with other people on the internet? and it's a battle royale by its very nature. you're going to be in combat. and there are people who that's not what they're interested in, that's not what their tastes are. or there are people who, like with lego, are probably a bit too young for that. there are already lots of lego

video games, but does collaborating with fortnite create a particular risk for the company? every collaboration and everything that you do always — especially things that are ambitious — carry a lot of unknowns because we don't yet know exactly how the game is going to land. this new game lands in fortnite today. let's see if it manages to build its makers an even bigger audience. mark cieslak, bbc news. and that's it for this edition of asia business report. thanks for watching. stay with bbc news. vmcsovsk: bbc news - - bringing you different stories from across the uk. the first ever narracott beans grown in the uk. tend during a trial at a spalding factory. they are delivered to us in the dry format and we have to rehydrate them.

they're delivered to us in the dry format and we have to rehydrate them. then the next process is fill these into the can. we then add the tomato sauce and spices. what do you think they taste like? ~' what do you think they taste like? ~ , ., , , what do you think they taste like? ~ , . , , ., like? like beans. they are better than _ like? like beans. they are better than heinz. - like? like beans. they are better than heinz. they i like? like beans. they are i better than heinz. they taste any different? _ better than heinz. they taste any different? the _ better than heinz. they taste any different? the seeds - better than heinz. they taste any different? the seeds for| any different? the seeds for the beans took 12 years to develop. by scientists at the university of warwick. they aim to make them exactly the same as what shoppers expect. we're alwa s as what shoppers expect. we're always trying — as what shoppers expect. we're always trying to _ as what shoppers expect. we're always trying to grow _ as what shoppers expect. we're always trying to grow new - always trying to grow new things and trying to do things to save on food mileage and imports because we are importing too much food. to be able to produce something that we consume in such great quantities in this country, it's just unbelievable. it could take years to replace the entire supply chain from canada and china, but today marks the start

of a journey to self—sufficiency. hi, i'm ellis with the catch up. tonight: a famous poet dies. cash use rises. and chanel takes over manchester. but first to the war in israel and gaza. tens of thousands of palestinians are continuing to move into rafah, a city near the egyptian border, trying to escape the intense fighting elsewhere in the southern gaza strip. meanwhile, the bbc�*s been hearing from young people who survived the attack on a music festival in israel back in october. more than 360 young people were killed there and thousands who survived are now facing mental health challenges. trained volunteers have set up their own centres to offer the help that's needed. lior is 24. she's one of the people using the service. it's almost been two months

and i only feel comfortable hearing music with the concerts and with the artists that come here. i really feel that the therapists are here to help and to listen. some other stories now: one of the uk's most influential modern poets, benjamin zephaniah, has died. he was also a star in peaky blinders. born in birmingham, he wrote and recited poetry in a caribbean dialect which reflected his family's immigrant background. and cash use has gone up for the first time in ten years, retailers say. it's cos shoppers are keeping a closer eye on their budgets while prices rise. time now to leave you with ten seconds of chanel in manchester. part of the city's northern quarter has been taken over by the french fashion brand and used as a catwalk tonight. you're all caught up. bye for now!

hello, i'm mark edwards. welcome to sportsday. there is what's coming up on the show. docked points but out of the drop zone, everton thrash newcastle to climb out

of the bottom three. hotspur hammer blow. west ham see off spurs at the london stadium to make it three wins out of four. and it's happened — the masters championjon rahm ditches the pga tour and joins liv golf. hello and thanks forjoining us on sportsday wherever in the world you're watching this from. we start with football and a massive result for everton football club. they've thrashed newcastle 3—0 at goodison park to climb out of the relegation zone. worth remembering that everton were deducted ten points for breaching premier league financial regulations last month. but a flurry of late goals gave them a much deserved win. abdoulaye doucoure scored the all—important second with just four minutes left on the clock after dwight mcneil had given the hosts the lead. the hosts punished a pair of

mistakes from kieran trippier, before beto ran clear during ten minutes of stoppage