us markets defy geopolitical concerns surging to record high. we will take a high. we will take concerns surging to record high. we will take a look at what's behind the optimism. plus why americans pay twice as much as sugar than the rest of the world. hello and welcome to asia business report. the us stock market surge to new highs on monday. shrugging off global headwinds. it has been driven mainly by big tech it is seen spilling over by the s&p 500. a benchmark index that investors watch closely. it ended friday's trading session at a record high. outstripping his previous record more than a year ago. previous record more than a

yearago. i previous record more than a year ago. i spoke to a tribeca investment partner.- year ago. i spoke to a tribeca investment partner. heading to a aood investment partner. heading to a good start- — investment partner. heading to a good start. the _ investment partner. heading to a good start. the optimism - investment partner. heading to a good start. the optimism hasi a good start. the optimism has returned after the first couple of weeks. investors have cited 2024 will be a year where interest rates will be lower globally. economic activities will slow down but not as badly as feared. all that combined, it's good to see asdaq pushing higher. it's good to see asdaq pushing hiaher. ~ �* ., ,., ., ., higher. we're hearing some good thins and higher. we're hearing some good things and some _ higher. we're hearing some good things and some lay-offs. - higher. we're hearing some good things and some lay-offs. i- higher. we're hearing some good things and some lay-offs. i do i things and some lay-offs. i do think big tech _ things and some lay-offs. i do think big tech is _ things and some lay—offs. i gr think big tech is going through... they had a good start, but i think it will slow down somewhat. the costs are higher and i do think ai related sectors within the big

tech will do better. every part is going to experience slow down because of higher escalation and costs. i do think some of the more cyclical sectors should start to do better this year because economy is not doing too badly. with an interest rate potentially being cut, we do think those sectors will do quite well. think those sectors will do quite well-— quite well. not so much concerned _ quite well. not so much concerned about - quite well. not so much concerned about all- quite well. not so much| concerned about all that conflict in the middle east? what's interesting is a barometerfor what's interesting is a barometer for investors concern for middle east conflicts is the oil prices, they have been hitting lower. it seems to have no stop to... it's mainly because in general, there look at globally in terms of demand, might be slowly somewhat, and thatis might be slowly somewhat, and that is offsetting the uncertainty in relation to the

middle east.— uncertainty in relation to the middle east. staying with oil, russia has — middle east. staying with oil, russia has overtaken - middle east. staying with oil, russia has overtaken saudi . russia has overtaken saudi arabia as china's top supplier of crude oil. china and india have continued my oil from russia, even after western country but sanchez on moscow —— continued buying oil —— put sanctions. russia has been selling oil at significant discounts. it's not a sky full of stars for the philistines president. ferdinand marcos junior �*s have been criticised for using the presidential copter to get the coldplay concert in a province north of the capital city of manila. filipinos on social media say the use of official resources for personal gain is a miss miss use of taxpayer money. forcing traffic complications

had posed a security threat. can you recognise this? that the qr code. the successor of bar codes. his popularity, especially here in asia, has been rising. these jagged squares pack a lot of information and can be used for everything from paying for groceries to filing your taxes. but is there enough cybersecurity infrastructure in place to make the region a truly cashless economy? i got some answers from asia, a financial consulting company. we started many years ago, he was relieved to address the problem of local arbitration around credit cards. i took a while before the started to pick up around the rest of asia, particularly here in southwest asia. codes are generally secure and very understandable for a lot of the

population. in developed centres like here in singapore or some of the areas within south east asia that are developing, they really are a lifeline for many businesses and individuals as a way of making pavements. it and individuals as a way of making pavements. it makes life easier, making pavements. it makes life easier. but _ making pavements. it makes life easier, but there _ making pavements. it makes life easier, but there are _ making pavements. it makes life easier, but there are a _ making pavements. it makes life easier, but there are a lot - making pavements. it makes life easier, but there are a lot of- easier, but there are a lot of risks. ., , ., risks. certainly there are, like any — risks. certainly there are, like any other— risks. certainly there are, like any other additional. like any other additional payment. i think the benefit we haveis payment. i think the benefit we have is that china has been running an experiment for the last 15 years. there's a lot of lessons to be learned around that. the technology itself is not that new. it's been around for 20 years. there've been a lot of ways that the producers these qr codes have really tried to address the concerns. that being said, with generative ain everything else that's happening, 2024 will be a big challenge for cybersecurity in general, but in particular on payments will be a big focus.—

in particular on payments will be a big focus. staying on the theme of— be a big focus. staying on the theme of payments, - be a big focus. staying on the theme of payments, do - be a big focus. staying on the theme of payments, do you l be a big focus. staying on the - theme of payments, do you know how much americans pay for sugar? twice as much than the global average. sugar? twice as much than the globalaverage. despite global average. despite inflation, the globalaverage. despite inflation, the commodity keeps getting more expensive for us consumers. aaron delmore has been finding out more. i thought it looks good! i think it looks good!— thought it looks good! i think it looks good! every year, they make candy — it looks good! every year, they make candy canes _ it looks good! every year, they make candy canes to _ it looks good! every year, they make candy canes to share - it looks good! every year, they make candy canes to share at. make candy canes to share at this shop a new newjersey. i did have a slight 5% increase on the product. i want to say sugar went up maybe 15% from last year. buy the cost of sugar is rising worldwide and in the us, — sugar is rising worldwide and in the us, where _ sugar is rising worldwide and in the us, where a protectionist policy propped up producers. the us is the world's fifth—largest sugar producer, was sugar cane grown

in the south and sugar beets in the north. the us is also a top consumer. louisiana is the northernmost plight where sugar cane is grown commercially. thousands of years of flooding left naturally occurring fertile topsoil perfect for growing sugar cane. 2096 of su:ar in growing sugar cane. 2096 of sugar in the _ growing sugar cane. 2096 of sugar in the us _ growing sugar cane. 2096 of sugar in the us grown - growing sugar cane. 2096 of sugar in the us grown in i growing sugar cane. 2096 of| sugar in the us grown in the us comes— sugar in the us grown in the us comes from louisiana. so, how does it come from something we pick up out of the store? ~ . ., something we pick up out of the store? ~ , ., ., , ~ store? we plant the whole stock in the ground — store? we plant the whole stock in the ground in _ store? we plant the whole stock in the ground in the _ store? we plant the whole stock in the ground in the following i in the ground in the following year. we _ in the ground in the following year, we go through and harvest the pain — year, we go through and harvest the pain. this is a ch 57. —— the — the pain. this is a ch 57. —— the sugar— the pain. this is a ch 57. —— the sugar cane. it goes into an 18 wheeler, goes to the mill, and the — 18 wheeler, goes to the mill, and the middle presses the juice — and the middle presses the juice out _ and the middle presses the juice out of the sugar cane. we have _ juice out of the sugar cane. we have to — juice out of the sugar cane. we have to do _ juice out of the sugar cane. we have to ., ., ., ., ., ~

have to do a lot of work, so we have to do a lot of work, so we have to do a lot of work, so we have to knife _ have to do a lot of work, so we have to knife it _ have to do a lot of work, so we have to knife it and _ have to do a lot of work, so we have to knife it and put - have to knife it and put it through _ have to knife it and put it through some _ have to knife it and put it through some very- have to knife it and put it through some very largel through some very large rollers _ through some very large rollers. and _ through some very large rollers. and we - through some very large rollers. and we have - through some very large rollers. and we have toi rollers. and we have to separate _ rollers. and we have to separate the _ rollers. and we have to separate the mud - rollers. and we have to separate the mud from j rollers. and we have to - separate the mud from the dues. we have — separate the mud from the dues. we have to — separate the mud from the dues. we have to evaporate _ separate the mud from the dues. we have to evaporate the - separate the mud from the dues. we have to evaporate the water. we have to evaporate the water in the _ we have to evaporate the water in the juice _ we have to evaporate the water in the juice before _ we have to evaporate the water in the juice before we _ we have to evaporate the water in the juice before we start - in the juice before we start crystallisation _ in the juice before we start crystallisation —— _ in the juice before we start crystallisation —— the - in the juice before we startj crystallisation —— the juice. it's — crystallisation —— the juice. it's one _ crystallisation —— the juice. it's one of— crystallisation —— the juice. it's one of most _ crystallisation —— the juice. it's one of most precious. it's one of most precious commoditx _ it's one of most precious commodity-— it's one of most precious commodi . ,, , ., commodity. the us department of a: riculture commodity. the us department of agriculture protects _ commodity. the us department of agriculture protects domestic - agriculture protects domestic production from foreign competition by taxing imports. a report by the government accountability office in october found that the sugar programme creates higher prices, and americans pay around a twice the world price. it's not like the farmers don't have other problems. irate it's not like the farmers don't have other problems. we had a very good _ have other problems. we had a very good crop _ have other problems. we had a very good crop last _ have other problems. we had a very good crop last year. - very good crop last year. import costs were through the roof. potassium, for example, $108 a tonne went to $1000 a tonne. you have to take that hit. it could be a great crop. you're still feeling the

squeeze. you're still feeling the squeeze-— you're still feeling the squeeze. you're still feeling the suueeze. ., ., ~ , squeeze. in a farm like yours complete _ squeeze. in a farm like yours complete with _ squeeze. in a farm like yours complete with foreign - squeeze. in a farm like yours| complete with foreign sugar? ourfarm in american complete with foreign sugar? our farm in american farmers will outcompete anybody in the world. wejust will outcompete anybody in the world. we just can't compete about a farmer receiving direct subsidies. about a farmer receiving direct subsidies-_ subsidies. the back in new jerse , subsidies. the back in new jersey. dave _ subsidies. the back in new jersey, dave deals - subsidies. the back in new jersey, dave deals with - subsidies. the back in newj jersey, dave deals with the rising price of sugar when he can get his hands on it. there are still supply _ can get his hands on it. there are still supply issues. - can get his hands on it. there are still supply issues. i - can get his hands on it. there are still supply issues. i do i are still supply issues. i do extra — are still supply issues. i do extra sugar sometimes and they're _ extra sugar sometimes and they're out of sugar. you just have — they're out of sugar. you just have to — they're out of sugar. you just have to work in production around _ have to work in production around that.— have to work in production around that. ., ., , , ,, around that. you run a business that's focused _ around that. you run a business that's focused on _ around that. you run a business that's focused on sugar. - around that. you run a business that's focused on sugar. if - that's focused on sugar. if this prices going up, what does it mean for your business? when rices no it mean for your business? when prices go up. _ it mean for your business? when prices go up. i— it mean for your business? when prices go up, i increase - prices go up, i increase prices _ prices go up, i increase prices. gas prices rise, people stitt— prices. gas prices rise, people still drive _ prices. gas prices rise, people still drive. people don't mind spending _ still drive. people don't mind spending the extra money for the good candycane of the good piece _ the good candycane of the good piece of— the good candycane of the good piece of chocolate. they know where — piece of chocolate. they know where to _ piece of chocolate. they know where to come.— piece of chocolate. they know where to come. aaron delmore, bbc news, _ where to come. aaron delmore, bbc news. new— where to come. aaron delmore, bbc news, new york. _ here's a list of things that

will be watching closely for you this week. on tuesday, policy makers of japan will decide on direction of industry. —— interest rates. mid week, we get the latest results from tesla, the auto—maker lowering prices to help make the brand a more attractive option. on thursday, we'll find out how the world's largest economy performed in the back order of last year. this comes ahead of the fed meeting earlier next year. —— next week. you can find plenty more on the bbc news website. do stay with bbc news. i'll be backin do stay with bbc news. i'll be back in an hour's time. bbc news bringing you different stories from across the uk. farmore reservoir outside oxford should have far more water at this time of year.

but locals who enjoy walking, fishing and boating here have seen levels drop significantly in the past two weeks, just as nearby roads, some homes and vast areas of agricultural land have been inundated. after the recent heavy rainfall, and with so much of the south still dealing with the aftereffects of flooding, it may seem surprising that major reservoirs like this one aren't full to the brim. but as you can see, we're still way below capacity. thames water was unable to give us an interview, but confirmed it paused, pumping water into the but confirmed it paused pumping water into the reservoir when recent storms raised the volume of dirt and debris being carried by the rivers that feed farmoor. campaigners argue the company has, at least in part, made the situation worse for itself. voiceover: for more stories from across the uk, head to the bbc news website

vmcsovsk: bbc news, - bringing you different stories from across the uk. closed for business, just some of the 650 trailers operated by gwyneth shipping laid up at its headquarters this afternoon. the company also has sites in deeside, ellesmere port and dublin. its last set of published accounts show that in the year up to may 2022, it made a profit of over £1 million. but yesterday morning, at 10:30 staff were called

into the office for a meeting and told the company would be going into administration. today, there's been almost nobody in work and calls have gone unanswered and information remains scarce about what happens next. the administrators were on site this afternoon, but weren't able to confirm how many staff in anglesey would be losing theirjobs. for the council, it's another piece of bad news on the island after the recent closure of the two sisters chicken factory in llangefni. well, it's devastating news. we are waiting for confirmation. devastating news for the families and the workers that are affected. just january after christmas, we all know the cost of living crisis, the effects of that. and we need clarity so that we can support these families. it's too early to say whether the administrators will be able to get any part of the business moving again. this evening, we spoke to a number of gywnedd shipping staff. none wanted to talk on camera, but they did say they were hopeful of finding otherjobs in the haulage industry. for more stories from

across the uk, head l to the bbc news website. hello and welcome to sportsday.

i'm chetan pathak. coming up on the programme — liverpool score four at bournmouth to extend their lead at the top of the english premier league. forfeit matches when fans are racist. fifa's president calls for harsher punishments in the fight to tackle racism. and ten shots off the lead going into the weekend. rory mcilroy pulls off a remarkable comeback at the dubai desert classic. welcome along, thank you forjoining us. we start at the top of the english premier league, with liverpool extending their lead to five points after a 4—0 win away at bournemouth, after a goalless first half amidst high winds on the english south coast, jurgen klopp's side pushed on with two goals

from darwin nunez — and a couple, too, from diegojota.