this is your business briefing. i'm sally bundock. switzerland and the eu square up over cash and immigration. are there lessons to learn for post—brexit britain? plus, brazil's lady drivers. why women only taxi apps are booming in sao paolo. and it's a quieter day today for financial markets. japan is closed and hong kong clings on to record levels. the us dollar holding on to losses. we start in switzerland, where european commission president, jean claude—juncker, will be holding talks with the government in the next couple of hours. they will be trying to get strained eu—swiss relations back on track. the talks are being closely watched here in the uk, not least because switzerland's been

held up by some as a model for post—brexit britain, not in the eu but enjoying close trade ties. well, the big issue today is a familiar one, money. the swiss are due to pay another billion francs, roughly a billion dollars, to the eu's cohesion fund, which supports newer members in central and eastern europe. and here's something else familiar. the issue's been on hold since february 2014, when the swiss narrowly voted in a referendum to bring back quotas for the number of eu workers they allow in. not surprisingly, some see this as a test case for brexit. can switzerland get the benefits of trade with the eu while keeping control of its borders? but notjean—claude juncker. he calls it a "swiss—specific" situation, and said last year that any deal reached with switzerland would not be a blueprint for the united kingdom. here's our switzerland correspondent, imogen foulkes. with brussels wanting to get something from this meeting, the eu wa nts switzerla nd something from this meeting, the eu wants switzerland to commit another $1 billion to support new eu members in central and eastern europe. a first billion was paid by the swiss 10 years ago. the swiss want their

bilateral ties with the eu, by far the biggest trading partner of switzerland, back on track. a compromise has already been found under which no quotas will be introduced unless unemployment reaches unprecedented levels. and the swiss government appears ready to stamp up the $1 billion. in return, brussels will grant equal status to the swiss stock exchange and may start talks on access to the energy market. it is an interesting message for future non—eu energy market. it is an interesting message forfuture non—eu member britain, doing business with the eu is perfectly possible, but there is a pricetag attached. dr elaine fahey is from city law school at the university of london. it is good to see you. it is a very interesting scenario the keep an eye on. as she was pointing out, switzerland, you know, has access to

the single market, and yet it has its independence, but it is paying a price for that. switzerland paid a high price for access to the single market, but for a long time, they have been looking to institutionalise that relationship. how much is involved in the agreement and what price will they further have to pay, we don't know. it is interesting to see how it develops. switzerland has been outside, and yet it is continuing to negotiate this too and —— to and fro. they were suspended for a while. political bargaining has been going on for some time. at the end of the day, if you want access to the single market, you have to pay for it. to what extent are there parallels between switzerland and the uk post— brexit? parallels between switzerland and the uk post- brexit? extremely strong parallels with issues like

migration, access to the single market, and the swiss don't want a relationship with the court of justice, and it will be interesting to see what they have to accept in return for deepening relations with the stock exchange and so on. who has the upper hand? unquestionably, the eu have the upper hand. they are a lwa ys the eu have the upper hand. they are always likely to have it. but it remains to be seen what happens today. interesting. thank you for coming in. we will keep an eye on that today and beyond. let's go to brazil now. it's already one of the world's biggest markets for ride—sharing apps like uber. but apps aimed exclusively at women, offering only women drivers, are taking off fast. there are now three such services in the city of sao paulo alone. wejoined some drivers on a ride to find out why. to asia now. there could be yet more damage to the reputation of japanese manufacturing after kobe steel was found to have been falsifying quality control data for years.

according to a report, a division of mitsubishi materials has also been cheating. let's go to our asia business hub where rico hizon is following the story. it is nice to see you, rico hizon. what is going on now?” it is nice to see you, rico hizon. what is going on now? i know! it keeps on piling up, one problem after another. now it is mitsubishi, who reportedly falsified product data four years on its so—called 0 rings material. and they are used as a sealing product for industrial products like aircraft. they said the company found the issue during an investigation following data falsification at kobe steel, the third—largest steel manufacturer in japan. they have a 45% share in a joint—venture with kobe steel, including the hatano plant, the

centre of whole scandal. they admitted workers tampered with product specifications, causing aircraft makers and other companies to check if their safety performance had been compromise. this is the latest involving japanese makers including automakers like nissan and subaru, who also failed to comply with procedures for decades. more problems for japanese makers. with procedures for decades. more problems for japanese makersm seems so. thank you. and now for other business stories. the us federal reserve looks set to raise interest rates again next month. minutes of its last meeting showed a majority of committee members saw the need for a rise in the "near term." that's despite concerns about the weak level of inflation which has been below the fed's 2% target for years. taxi app, uber, is facing investigation in at least three european countries after revelations it failed to disclose a hacking attack last year in which personal data from 57 million customers and drivers was stolen

and hackers were paid off. the uk regulator said the incident raised "huge concerns." watchdogs in italy and the netherlands are also looking into the breach. and now, what's trending in the business news this morning? from business insider. vladimir putin could secretly be one of the richest men in the world. that's according to an investigative reporter who spent four years in russia researching the story. cnbc uses thanksgiving as an opportunity to reflect on wall street's record breaking run. it says this. investors have plenty to be thankfulfor this year, and the trend will continue, according to a top market strategist bloomberg looks at the huge economic challenge facing zimba bwe's new leader. mnangagwa's task is to rebuild zimbabwe's economy from the ground and don't forget, let us know what you are spotting on line. use the hashtag #bbcthebriefing.

and these are the markets. wall street is closed for thanksgiving. no action on wall street. that's it for the business briefing this hour. up up next, newsbriefing. we'll take you through the stories making headlines in the global media today. i will see you in a moment. first, it is black friday tomorrow. a very important day for shoppers. christmas shoppers are being urged not to rush into buying gifts from unknown sellers as new figures show victims lost nearly £16 million to fraudsters last year.

police have launched a campaign warning buyers that they could be playing into the hands of scammers in their attempts to snap up christmas bargains. jon ironmonger has this report. christmas is coming, which means, for many, the pressure is on to start shopping. in the big rush to buy presents, it is not unusual to spend first and think second. by police are warning of a sharp increase in shopping fraud over the christmas here at. the action fraud unit of the city and london police say more than 15,000 victims across all age groups came forward to report crimes last year, from identity theft and card cloning to dodgy on line advertisements, costing a total of nearly £60 million. compared to this time next year back at the last year, we have had overall fraud increased. —— last year. mobile phones continued to be

the most likely products to be bought from fraudsters. but clothing and footwear, they are high on the list as well. as well as make up, drones, and fitbit watches. this has prompted a police video campaign showing the many scams targeting christmas shoppers and what people can do to avoid them, like making sure a good deal is the real deal. bbc news, central london. and coming up at 6am on breakfast, charlie stayt and naga munchetty will have all the day's news, business, and sport. they'll also have more on a new report that suggests drinking three or four cups of coffee a day could be good for your health. it can also lower your risk of cancer. this is bbc news. the headlines. the serbian president has urged his country to look to the future following the conviction of

former bosnian serb military commander, ratko. he was sentenced to life in prison for genocide and crimes against humanity during the bosnian war of the 1990s. the new leader of zimbabwe has told a cheering crowd the country is witnessing the start of a new democracy. emmerson mnangagwa has returned to be sworn in as president on friday. he said his priority was rebuilding the economy and creating jobs for the large numbers of unemployed. an operation by papua new guinea police is under way at the australian refugee camp on manus island. officers say they intend to evict hundreds of refugees and asylum seekers who are refusing to leave. detainees say they fear reprisals from local people if they transfer to other facilities. and many other stories and analysis on the bbc news website and bbc news

application. we have a story about d riverless application. we have a story about driverless buses in singapore by 2020. and iphone suppliers stopping illegal overtime. that is good news for those working extremely long hours. more detail on line. now it is time look at the stories that are making the headlines in media across the world. we begin with the independent (ani) and the uk budget and a warning —— we begin with the independent and the uk budget and a warning from chancellor philip hammond who said britain could face the worst decade of economic growth in 60 years meanwhile the china daily takes a more

positive line on the uk economy saying chinese companies believe britain leaving the eu will lead to more investment opportunities. buzzfeed looks at uber where executives concealed a data breach, which compromised the information of 57 million accounts, for more than a year. the company also admitted paying hackers 100 thousand dollars to delete the data and keep quiet. the irish times leads with former bosnian serb military