hello and welcome to asia business report. i'm steve lai. let's begin in the us. the world's number one economy grew at a better than expected pace at the end of last year, led by strong consumer spending. this drove stock markets to new highs. the benchmark s&p 500 index logged its fifth straight record close. our correspondent michelle fleury has the latest from new york. foran for an economy many said was headed for recession, the us continues to defy expectations. in the final three months of last year the american economy grew faster than predicted expanding a manual rate of 3.3% while inflation fell. growth for the entire year also accelerated. even as the federal reserve was engaged in the most aggressive rake height cycles in years. the biden administration seized on the moment. here is the president and the battleground state of

wisconsin. and the battleground state of wisconsin-— and the battleground state of wisconsin. _, ., . ., wisconsin. the economic growth is stronger _ wisconsin. the economic growth is stronger than _ wisconsin. the economic growth is stronger than we _ wisconsin. the economic growth is stronger than we had - wisconsin. the economic growth is stronger than we had during i is stronger than we had during the trump administration. thanks to the american people and america is now the strongest growth in the lowest inflation rate of any major economy in the world. all inflation rate of any ma'or economy in the world. all this week, economy in the world. all this week. joe _ economy in the world. all this week, joe biden's _ economy in the world. all this week, joe biden's circuits - economy in the world. all this| week, joe biden's circuits from week, joe biden�*s circuits from the treasury secretary janet yellen from the white has economic adviser have been on the road with the message that the road with the message that the president's strategies to help the middle class is working. on wednesday, the president picked up a major endorsement from the united auto workers.— endorsement from the united auto workers. donald trump is a scab. auto workers. donald trump is a scab- here's _ auto workers. donald trump is a scab. here's the _ auto workers. donald trump is a scab. here's the thing. - auto workers. donald trump is a scab. here's the thing. with - scab. here's the thing. with trump trouncing _ scab. here's the thing. with trump trouncing biden - scab. here's the thing. with trump trouncing biden with | trump trouncing biden with pulling in the economy at the end of last year, the white house history to change the narrative. pouncing on the latest gdp data to help it make its case. overnight oil prices havejumped to their highest levels this year. as you can see they're up about 3% as tensions in the red sea continue to disrupt global trade. financial services group allianz has forecast that

if the crisis continues for several months, global inflation could be pushed up by half a percentage point to 5.1%. that's partly because taking the longer route costs freight carriers 5 times more than going through the suez canal. patrick lepperhoff is from inverto he told us how this crisis compares to the covid disruptions. ehat we see is that they take a close look what we see is, is the price increase since october of roughly a50% on top of the very low rates that we saw that basically decreased after covid. and i mean, we had $15,000 per containerfrom april to europe during covid times, where roughly 5,000 right now. so what are you advising your clients to do then? so i mean, on one hand, it's obviously keeping track of the stocks, basically improving your production planning and adjusting it to the parts and to the basically extended lead times that we're currently

seeing, with roughly 2 to 3 weeks that the journey is extended through the way across africa. and how do you sort of see this playing out? it is incredibly hard to predict, i appreciate going forward, given the unpredictable nature of what's been happening in the red sea. yeah. so i mean, we're expecting a further increase of rates at least until the chinese new year, and then it will pretty much stay on that level or even decrease slightly. and what do you make of the pressure that from the international community to ensure the safety of shipping in the red sea, particularly from china? i mean, it's an interesting element. china invested quite a bit into the one belt initiative during the past years and obviously they are quite keen to keep up trade across the suez canal and into europe and into all the other markets that they're serving. so there will be quite a bit of pressure from the chinese government in the background in order to secure that trade. in other news making headlines... from march, people in the eu using apple devices will be

able to download apps from rivals, and not just from its own store as is currently the case. it comes after the eu introduced new rules to encourage competition and represents a major u—turn. but apple has always insisted that its vetting process allows for better security and limits the amount of malware on. chances are, if you work in an office, you're probably there a few times a week. many companies, especially those who went fully remote during the pandemic a few years ago, are trying to get employees back into the office more regularly. lewis garrad from the consultancy mercer told me how the trend will affect employees and job prospects. so the kind of work you do really matters. the data suggests that from the economists who are researching this, that fully remote work is less

productive than being around your colleagues in person. only slightly, just a few percentage points. but that disappears when you are in the office a few days a week, so you can form those relationships and perhaps get that little buzz that you get from being around others. so that will probably be the status quo. but frankly, steve, in recent times we've started to kind of move past this trend and start to ask ourselves a bit more, bigger questions. as you've mentioned, the rise of generative ai and some of these other things are really starting to be on the minds of workers these days. yeah, just elaborate on that point then coming to ai and since we're emerging from the pandemic and the sort of the shift or the changes that we've seen in the last year or so towards the workforce. i mean, there are a couple of big trends. i would stress that we're still in a quite a tight labour market, which means the demand for employees is still quite high. yes, we've had some really successful economic performance in. you've just mentioned the united states as an example. and that means that we have more jobs than we have people. in many markets, we do have ageing populations. so people are reaching retirement ages, fertility rates are down, which means

that the overall labour and workforce is smaller in many places and that that drives demand and competition for workers. but of course, there is some question about whether or not generative ai will help alleviate some of that by boosting productivity and allowing us to do more with a smaller workforce. but we all know that the theme really coming into this year that a lot of organisations we are talking to really are looking at, is risk and uncertainty. and individuals are feeling that, too. economic uncertainty? yes, inflation. but will the economic run continue? geopolitical, of course. and the impact of generative ai itself on on the labour market. so perhaps we'll see people being more cautious coming into this year and a bit more thoughtful about whether or not they should be out in the labour market looking for a newjob, if they are gainfully

and securely employed. now we were talking earlier in the programme about the challenges facing the global supply chain. well even before the recent tensions sparked in the red sea there was already a lingering crisis on land. during the pandemic thousands of truck drivers stopped work and many have never come back. on this week's talking business my colleague aaron heslehurst asked the president of truck making giant scania about the problem, and whether building new infrastructure for electric vehicles might be an opportunity to make truck driving more attractive to younger people. this is a problem and you may think— this is a problem and you may think it — this is a problem and you may think it is _ this is a problem and you may think it is a _ this is a problem and you may think it is a problem in the uk or europe, _ think it is a problem in the uk or europe, it is a global problem. wherever i go, whether brazit— problem. wherever i go, whether brazil or— problem. wherever i go, whether brazil or china, but here are the — brazil or china, but here are the same _ brazil or china, but here are the same thing. young people they— the same thing. young people they seem to do not want to become _ they seem to do not want to become truck drivers. this could _ become truck drivers. this could be _ become truck drivers. this could be a huge problem for the global— could be a huge problem for the global logistical system. trucks _ global logistical system. trucks are some kind of a bloodstream of society. if trucks _ bloodstream of society. if trucks are not moving, people will not — trucks are not moving, people will not have food on the shelves _ will not have food on the shelves in our stores injust a number— shelves in our stores injust a number of— shelves in our stores injust a number of hours or perhaps days — number of hours or perhaps days so _ number of hours or perhaps days. so this we need to

address _ days. so this we need to address. so we are trying to do our test— address. so we are trying to do our best as _ address. so we are trying to do our best as a manufacturer to create — our best as a manufacturer to create an _ our best as a manufacturer to create an attractive vehicle with — create an attractive vehicle with an _ create an attractive vehicle with an ergonomic workspace with— with an ergonomic workspace with a — with an ergonomic workspace with a good entertainment system _ with a good entertainment system so that at least life in the cairin— system so that at least life in the cabin can be made really attractive. i think we need to id attractive. i think we need to go beyond that. i think this is a assistance issue. we need to look— a assistance issue. we need to look at — a assistance issue. we need to look at route times, we need to be able — look at route times, we need to be able to— look at route times, we need to be able to give younger people a return — be able to give younger people a return to base, to be able to steep — a return to base, to be able to sleep in — a return to base, to be able to sleep in their own bed, not many— sleep in their own bed, not many people think about that. it many people think about that. it lead — many people think about that. it lead to— many people think about that. it lead to transport his dominating global trade. so it depends on our country, again 60-70%— depends on our country, again 60-70% of— depends on our country, again 60—70% of all transportation on tand~ _ 60—70% of all transportation on tand~ 50— 60—70% of all transportation on land. so usually it is the flexible _ land. so usually it is the flexible up to the law smile but markets have 90%, injapan for example, 90% of all transport is done on trucks. if this— transport is done on trucks. if this does— transport is done on trucks. if this does not work, there is an issue, _ this does not work, there is an issue. if— this does not work, there is an issue, if there is a shortage of truck. _ issue, if there is a shortage of truck, or incapacity, the

entire _ of truck, or incapacity, the entire global trade will be in danger _ entire global trade will be in danger. this is tremendously important. danger. this is tremendously important-— danger. this is tremendously imortant. �* ., ., important. but what about this? as we are building _ important. but what about this? as we are building the _ as we are building the structure for electrification, is there also an opportunity to build better infrastructure that makes truck driving just more appealing? i that makes truck driving 'ust more appealing?* that makes truck driving 'ust more appealing? i think you're onto something _ more appealing? i think you're onto something very _ more appealing? i think you'rel onto something very important. probably— onto something very important. probably it could be combined. as trucks — probably it could be combined. as trucks stops are not all very — as trucks stops are not all very attractive, today. i think there — very attractive, today. i think there is— very attractive, today. i think there is a _ very attractive, today. i think there is a need to rebuild and build — there is a need to rebuild and build out _ there is a need to rebuild and build out spaces for 20 or 50 trucks — build out spaces for 20 or 50 trucks to— build out spaces for 20 or 50 trucks to stop the same time in church— trucks to stop the same time in church was— trucks to stop the same time in church was that it's a great opportunity to create an infrastructure around that. —— to charge _ infrastructure around that. —— to charge. with possibilities to charge. with possibilities to rest— to charge. with possibilities to rest or take a shower or get food _ to rest or take a shower or get food or— to rest or take a shower or get food or amenities that really look— food or amenities that really look nice _ food or amenities that really look nice in appealing to drivers _ look nice in appealing to drivers. a great chance. the us trade regulator says it will investigate investments made by microsoft, google and amazon into ai startups openai and anthropic. the federal trade commission says it's about keeping up with developments in al as well as stopping major

players from shutting out competitors. microsoft has so far moved the fastest in the generative ai revolution having reported spent 13 billion dollars investing in open ai. staying with openai the company's chief executive sam altman is understood to be in south korea today meeting with chip—makers samsung and sk hynix. the newswire reuters reports he is there to discuss potential partnerships for making chips. and that's it for this edition of asia business report. thanks for watching. bringing the different stories from across the uk. - my father and i started it and it has— my father and i started it and it has grown organically with lots — it has grown organically with lots of — it has grown organically with lots of people visiting and it grew— lots of people visiting and it grew and grew and just over the

years— grew and grew and just over the years it's — grew and grew and just over the years it's mother nature taking it away— years it's mother nature taking it away again and we have to come — it away again and we have to come back and put it back together. it's not a lot left at att~ _ together. it's not a lot left at all. , ., ., together. it's not a lot left at all. ., ., ., at all. everyone who came along to help rebuild _ at all. everyone who came along to help rebuild the _ at all. everyone who came along to help rebuild the bench - at all. everyone who came along to help rebuild the bench has . to help rebuild the bench has their own memories of the place. their own memories of the lace. , ., place. there is life on the beach and _ place. there is life on the beach and last _ place. there is life on the beach and last april- place. there is life on the beach and last april and l place. there is life on the i beach and last april and we place. there is life on the - beach and last april and we use to have some little stones with some messages to remember her and now it's all gone so we start again. and now it's all gone so we start again-— start again. these are memorabilia - start again. these are memorabilia from - start again. these are - memorabilia from previous bench, _ memorabilia from previous bench, peorrie _ memorabilia from previous bench, people who - memorabilia from previous bench, people who have i memorabilia from previous - bench, people who have written their— bench, people who have written their names _ bench, people who have written their names on _ bench, people who have written their names on them. _ bench, people who have written their names on them. so it - their names on them. so it might tre— their names on them. so it might be nice _ their names on them. so it might be nice to— their names on them. so it might be nice to add - their names on them. so it might be nice to add to - their names on them. so it . might be nice to add to some their names on them. so it - might be nice to add to some of those _ might be nice to add to some of those backs _ might be nice to add to some of those backs so _ might be nice to add to some of those backs so when _ might be nice to add to some of those backs so when people - those backs so when people come back and — those backs so when people come back and see _ those backs so when people come back and see them,. _ those backs so when people come back and see them,. it's- those backs so when people come back and see them,.— back and see them,. it's not the first _ back and see them,. it's not the first time _ back and see them,. it's not the first time that _ back and see them,. it's not the first time that they - back and see them,. it's not the first time that they have j the first time that they have had to do this. the bench has been damaged by storms before and in the summer by a fire. this placket donated than is now the centrepiece for the new bench once more. the group say they hope more people come along and add more driftwood and mementos to build the bench up and mementos to build the bench up once again to the community hub it once was.

for more stories from across the uk, head l to the bbc news website. hey, i'mjulia with the catch up. tonight, an update on rubiales, a seven figure mix up and a lion in a bentley. but first, a man who stabbed three people to death on the streets of nottingham has been told by a judge that he'll probably spend the rest of his life in a high—security hospital. faldo karl o'kane was suffering from paranoid schizophrenia when he killed ian coates, barnaby webber and grace o'malley— kumar. so thejudge accepted a manslaughter plea, but the victim's families say that he got away with murder. true justice has not been served today. we as a devastated family have been let down by multiple agency failings and ineffectiveness. some of the stories now. a spanishjudge has proposed

that luis rubiales should go to trial. he grabbed playerjenni hermoso head and kissed her after spain's victory against australia at the world cup. she said the kiss was not consensual, but mr rubiales denies that. police in thailand have arrested a woman whose pet lion was spotted going on a ride in a bentley. you can legally own a lion in thailand, but it needs to be officially registered. and white lotus star tom hollander got a big surprise when he received a seven figure sum by accident. it was actually a box office bonus meant for tom holland, who played spider—man in the avengers. we'll leave you with 10 seconds of this week's red carpet star, claudia schiffer's cat. yes, dua lipa and samuel l jackson went to the premiere of their new spy film argyle. but it's chip, the cat, and this iconic matching backpack that definitely stole the show. you're all caught up now.

see you. hello and welcome to sportsday. india have the advantage as we head into day two of the first test against england.

stoppage time drama in the asian cup — we'll bring you the latest as we enter the knockout stages. and, 16—year—old zak carrick—smith continues to impress at the winter youth olympic games. welcome. it's one of the toughest places to go to and win a test series — and there's nothing that happened on day one of england's first test in india to suggests that it will be changing anytime soon. although it's very early days, india seem to have already grabbed control of the opening match — thanks to excellent bowling initially — and then some excellent batting from india's new star yashasvi jaswal.

england all out for 246 with the hosts reaching