report. i'm suranjana tewari. let's begin in the us where nike has unveiled plans to cut 2 billion in costs over the next three years. the announcement came after the sportswear company missed market expectations for quarterly sales and warned of lower revenues ahead. its shares fell by around 10% after the closing bell. michelle fleury has the latest from new york. once a taste maker, sneaker giant nike is falling behind, ibs and new balance are allowing the fashion separate their new styles and colour waves while runners increasingly have more choice thanks to new brands. nike set sales of footwear

in north america, which is its largest market fell 5%. in china, and other key market which is slowly recovering from a footwear sales were down i%. now, on the bright side, if you take footwear sales together with nike set sales of footwear in north america, which is its largest market fell 5%. in china, and other key market which is slowly recovering, footwear sales were down i%. now, on the bright side, if you take footwear sales together with like equipment and apparel, overall, that generated a total revenue of $13.39 billion. that's up 1% from a year ago. nike executives said they are working to improve things announcing $2 billion in cost cuts over the next three years. the sneaker giant plans to simplify its product line—up. it wants to increase its use of technology and to streamline the overall organisation. the plan is going to cost the company 400 million to $450 million. the boss said we are embracing a company—wide journey to invest in our areas of greatest potential, adding that the company sees an outstanding opportunity to drive long—term

profitable growth. after the retail giant warned that demand would continue to be weak for at least the next six months, investors are hoping this turnaround well and it nike's losing streak. the pentagon has announced the expansion of a naval protection force which they hope will ward off mounting attacks from yemen's rebel houthis on merchant shipping in the red sea. more than 20 countries have agreed to participate. the new effort would be called operation prosperity, with each country contributing what they can. it's played havoc with global shipping and hapag—lloyd, the fifth largest shipping company in the world, has become the latest to say it will avoid the suez canal. the company's spokesperson nils haput spoke to my colleague christian fraser — and explained just how disruptive . we decided this week that we won't get any more ships through the red

sea through the canal. and it's just a very severe security issue. we shouldn't forget that there is not about vessels, it's not about the cargo, it is but the people on our ship. these are 20 — 23 men and women serving as our crew, and they need security and safety. this is at the moment nobody can guarantee. absolutely. that's the way it should be, but i'm still struggling to get a handle on how big of essays. are you saying you turned around 25 ships that would normally be going through the suez canal? yes. ships that would normally be going through the suez canal? yes, that's riuht. so through the suez canal? yes, that's right- so when _ through the suez canal? yes, that's right. so when you _ through the suez canal? yes, that's right. so when you put _ through the suez canal? yes, that's right. so when you put that - through the suez canal? yes, that's right. so when you put that with - through the suez canal? yes, that's right. so when you put that with all| right. so when you put that with all the other shipping _ right. so when you put that with all the other shipping companies, - right. so when you put that with all| the other shipping companies, what can we say? has it affected ten, 20, 30% of the world trade? how would you put it into some context for us in terms of what it's done to supply chains? i in terms of what it's done to supply chains? . , , , ., chains? i mean this is hundreds of shi s. we chains? i mean this is hundreds of ships- we are _ chains? i mean this is hundreds of ships. we are number— chains? i mean this is hundreds of ships. we are number five - chains? i mean this is hundreds of ships. we are number five in - chains? i mean this is hundreds of ships. we are number five in the l ships. we are numberfive in the world. we have roughly 10% market share, sojust imagine the bigger

ones, how many ships they will sail through the canal in the red sea. so this is hundreds of ships but in each to be diverted now, and for us, it means if i take an example from the eastern met, from the eastern meant to singapore through the canal is 13 days. in the future, if we sail around the cape of good hope, this will be 31 days. so this is roughly three weeks more. you can imagine what that means for fuel consumption, what that means for supply chains and time, what that means for our customers. of course, also for the crew. means for our customers. of course, also for the creva— also for the crew. there's plenty more on those _ also for the crew. there's plenty more on those disruptions - also for the crew. there's plenty more on those disruptions to - more on those disruptions to shipping on our website. the number of businesses making their debut on stock markets around the world has fallen this year from 2022. while sentiment is improving in the west, it is likely to remain shaky in the months ahead in mainland china and hong kong,

according to our next guest. for more on this and the outlook for listings in 2024, let's speak to george chan from consultancy ey. george, great to see you and happy on the programme. what is the cause for this slowdown in hong kong and mainland china?— for this slowdown in hong kong and mainland china? thank you for having me toda . mainland china? thank you for having me today- yes. _ mainland china? thank you for having me today. yes, just _ mainland china? thank you for having me today. yes, just to _ mainland china? thank you for having me today. yes, just to your _ mainland china? thank you for having me today. yes, just to your point, - me today. yes, just to your point, 2023 is yet another tough yard for the ideal market, especially in the asia—pacific regions. and we can sit that the number of down by 33%, just like you mentioned, principe drove by the china and hong kong which is to be the powerhouse. the main reason was for china, the chinese government, temporarily implementing what we call a periodic tightening policy in approving the ipo in the hope that it can actually boost the

liquidity and also redirect funding to encourage industry and improve the quality of the ipo candidates. for hong kong, it is actually that peak interest rate and also hong kong has a very unique situation that most of those ideal candidates actually originate from china. given the china economic recovery is used to smaller than the expectation but is actually picking up, so all these factors combined that contribute to the cooldown of china and hong kong. what about dual listings? there was a time where companies only wanted to publicly list if they could do it in hong kong and new york. yes. in hong kong and new york. yes, think the company _ in hong kong and new york. yes, think the company just _ in hong kong and new york. ye: think the companyjust like i mentioned, temporary tightening policy has caused quite hong kong

and us would be their first choice is. so, going forward, these kinds of companies, they still want to list in hong kong and china, so we are going to see quite a steady flow of the listing, some of it might choose actually to be dual listing as well. , ., ., ., , as well. global ipo leader at ernst & youna. as well. global ipo leader at ernst & young- many — as well. global ipo leader at ernst & young. many thanks _ as well. global ipo leader at ernst & young. many thanks for - as well. global ipo leader at ernst i & young. many thanks for your time. how do you measure a year? is that how much time you've spent with family, how much money you made or is that what you searched for online that defines how you spent the year? in asia, this is what people have been googling. the most widely searched song was "idol" by the japanese pop duo yoasabi. popularity spiked after it became the opening theme of another japanese cultural phenomenon , anime series "oshi no ko". indian cinema was another popular search. action flickjawan came in at number three... right behind summer blockbusters

barbie and oppenheimer. and because food is also a key part of culture... the most frequently searched recipe — korea's traditional rice dish bibimbap. google's bryant lim has been tracking all the latest trends on the internet�*s most popular search engine. hejoins us now from singapore. great to see you. what has surprised you most about this trend report? thanks for having me. it's been exciting, really coming to see the influence of asian—pacific on these trends, particularly the global lists the steps of some of the examples you mentioned where the most search notjust in asia but around the world. to most search notjust in asia but around the world.— most search notjust in asia but around the world. to the train show u . around the world. to the train show u- with around the world. to the train show up with anything — around the world. to the train show up with anything with _ around the world. to the train show up with anything with regards - around the world. to the train show up with anything with regards to - around the world. to the train show| up with anything with regards to the sport sector. up with anything with regards to the sport sector-— sport sector. there were huge interest in _ sport sector. there were huge interest in the _ sport sector. there were huge interest in the baseball- sport sector. there were hugej interest in the baseball classic sport sector. there were huge - interest in the baseball classic due to their historic win, depending on the country to have multiple titles of that. a lot of interest in the

women's world cup just popped of that. a lot of interest in the women's world cupjust popped up in india, australia, really across the pacific. that was huge for audiences you can guess the countries who searched at the most. beyond the round of culture and sport, but about tech and science for people looking up any sorts of innovations. this is a really good year for al, and what we see in our search trends that many people are searching not just tools like character ai and barred or newjourney, but specifically how to use them in their daily lives. so a lot of interest, really, in where they can access ai and really what are the implications of it today.- implications of it today. finally, brian, because _ implications of it today. finally, brian, because we _ implications of it today. finally, brian, because we are - implications of it today. finally, brian, because we are running i implications of it today. finally, i brian, because we are running out implications of it today. finally, - brian, because we are running out of time, it is really interesting how

much asian pop culture came up. what does that tell us about what people are searching for going forward into 2024. , , . ., , 2024. something we did special this ear was 2024. something we did special this year was we — 2024. something we did special this year was we get _ 2024. something we did special this year was we get a — 2024. something we did special this year was we get a look _ 2024. something we did special this year was we get a look back - 2024. something we did special this year was we get a look back at - 2024. something we did special this year was we get a look back at the l year was we get a look back at the all—time most search in celebration of google's 25th birthday. if we look at the most searched boy band, it was bts, the most searched girl band was black pink. the most searched cuisine was chinese food, and the most searched movie genre was probably would. so we see a proliferation of asian food... i am proliferation of asian food. .. i am so sorry i — proliferation of asian food. .. i am so sorry i will— proliferation of asian food. .. i am so sorry i will have _ proliferation of asian food. .. i am so sorry i will have to _ proliferation of asian food. .. i am so sorry i will have to cut - proliferation of asian food. .. i am so sorry i will have to cut in - so sorry i will have to cut in there, thank you for your time, that's all the time we have for here on asia business report. thank you for watching. voiceover: bringing you different stories from across the uk. - for 70% of the world's population, this is what doing the laundry looks like — women and children spending hours each week scrubbing by hand. and this is the solution —

a flatpack manual washing machine being built in corby. british engineer nav was inspired by a visit to southern india. and they wash with cold water in buckets on the floor, causing back pain, joint pain and skin irritation. with our machine, it saves 75% of time and 50% of water compared to hand—washing clothes. and here it is, from flatpack to fully assembled. so you open the lid, put your clothes inside, you put your water and your laundry detergent in here, close the lid — and of course, the most important bit is how you operate it, using a handle. and once your clothes are clean, the dirty water comes out here. over 100 staff from this component supplier have volunteered their time to build the machines. so far, 180 machines have been sent to 15 countries, giving thousands of women

and girls their time back. for more stories from across the uk, head to the bbc news website. hey, i'm zof with the catch up! tonight gambling adverts in football, a christmasjumper apology and flying deer. hey i'm zof with the catch up! tonight eurostar delays, battle for christmas number one and flying deer. first, british sign language will be taught as a gcse in england from september 2025. it'll be open to all pupils, who'll learn about a thousand signs. the curriculum has been finalised after 12 weeks of consultation with input from deaf and hearing communities. the government first said it would consider introducing a gcse in bsl after 17 year old danieljillings began campaigning for it when he was 12. here's his reaction... i just feel really excited today because i started campaigning in 2018, five years ago now, and then also

covid happened which put a further delay on things but it is finally moving forward and i'm really excited for the future and things rolling out quickly. ajudge has ruled that the names of the two 16 year olds who stabbed the channel tunnel rail operator, eurostar, says there will be a progressive return to services, after eurotunnel workers in france staged a last minute strike. queues built up at st pancras station, where people had been hoping to travel for christmas. eurostar cancelled 30 trains earlier. mariah carey, sam ryder and wham! are all battling for this year's christmas number one. today is the final day for streams and sales to count before the christmas chart is revealed on friday. and primark has apologised after one of its employees was told she couldn't wear an irish printed language christmas jumper. time now to leave you with ten seconds of flying deer. these are not santa's reindeer but they are real deer,

which were being airlifted for a health check in the us state of utah. you're all caught up, cya later! hello and welcome to sportsday — i'm gavin ramjaun... a fresh set of proposals for a new 64—club european super

league have been dismissed by uefa. ajax crash out of the dutch cup to an amateur side, we'll bring you a round up of the latest action. and we'll have more on boxing's day of reckoning — with dubois—miller among the big—time heavyweight bouts in saudi arabia this weekend. hello there, and welcome along to the programme. fresh proposals for a new european super league of 64 clubs have been dismissed by uefa. europe's highest court ruled on thursday that football authorities were wrong to block controversial plans for a new european superleague. the project back in april 2021, would have included six top english clubs and six others from spain and italy, but it was withdrawn after a backlash from fans and politicians. andy swiss reports.