pakistani police clashed with protesters furious at the rape and murder of the six—year—old girl zainab. two people have been killed in clashes in the eastern pakistani city of kasur. police are offering a cash reward for information leading to the killer. rescue workers are searching for survivors following the deadly mudslides in southern california. 17 people are known to have died. eight more are missing. many of those affected also had to flee last month's wildfires. and this video is trending on bbc.com. police sources in france say all the jewels that were stolen at the ritz hotel in paris have been recovered. five men smashed windows and tried to make off with millions of pounds worth of jewellery. that's all from me for now. stay with bbc news. and the top story here in the uk: more than 60 a&e doctors who've written an open letter to the prime minister say patients are dying in corridors. they say conditions are at times intolerable despite the best efforts of staff.

now on bbc news all the latest business news live from singapore. the world's biggest retailer walmart offers a pay hike just before laying offers a pay hike just before laying off hundreds of workers. is the bubble bursting? bitcoin falls as south korea plans are trading ban. good morning, asia, hello, world. glad you could join us for asia business report. starting with walmart and mixed messages from the world's biggest retailer. it was initially good news for president trump when he said he would give

more than 1 million staff a pay rise thanks to his tax reform bill. wages would be increased from $10 an hour to $11 and there would also be a 1—off bonus of $1000 for staff who have been at the company for more than 20 years. but shortly after the announcement it was revealed that the firm is shutting down dozens of its wholesale shops and laying off hundreds of workers. puppies as reporter in new york said other companies have offered similar things. we've heard it from airlines, and other companies. this isa airlines, and other companies. this is a permanent sort of reduction in corporate tax that has been brought on by the new bill. it will mean billions of dollars and in some cases it could be tens of billions of dollars over the course of the future. the amount they are paying their employees today amounts to about $400 million and the

republican pitch was that this money would come back into the economy in the way that it expands the economy here. so it will createjobs the way that it expands the economy here. so it will create jobs and people's wages would go up in a significant way. if that happens then you could sort of see the government then earning more by way of tax. but there are no indications, apart from this particular bonus that is being given, and the only wage increase in the us where that's the amount it increases by is actually the minimum wage and there are competitors in the market who are already paying more than that amount. so we could just be competition that has forced them to increase these wages. our reporter in new york. if you are regretting not buying bitcoin when it was cheaper, think again. it has fallen by as much as 14% after south korea said it was planning to ban the currency and other crypto currency. i asked if the hype was over. i think the bar has already --

a lwa ys over. i think the bar has already -- always been set higher, and even more so always been set higher, and even more so given this regulatory oversight, especially with this latest announcement by korea. it could spread to other local markets and the fear is that if there is further you regular tree oversight this could really dampen investor sentiment towards coins in general. there is already this growing trend amongst asian governments to tighten controls on not only bitcoin but other bitcoin currencies, so the likes of china and vietnam?” other bitcoin currencies, so the likes of china and vietnam? i think that all oil down to the unsophisticated traders. they feel they have to put some defensive mechanism in the markets to control this volatility because a lot of people stand to lose a lot of money if the boy naturally does crash. and on the flipside there are more companies now getting into the

technology that underpins crypto currencies and the bitcoin, like kodak. the thing they will succeed? i think there's a practical use for blockchain technology as the go through the next decade and i think consumers are actually seeing value in this. if we look at how technology launched itself over the last two decades, this does bode well and we could see bitcoin technology advance. over the oil and the price of crude oil as —— has hit $70 a barrel for the first time in over three years. you can see this chart shows it moving north, gradually climbing over the past year. at today's followed the announcement of the oil producing giant opec, that announcement of the oil producing giant 0pec, that he would continue to limit supplies. this news just in. intel has asked some of its customers to hold off installing patches that would address security flaws, according to the wall street journal. the company confirmed last

week that the chip used in our computers could allow hackers to steal sensitive information. in social media facebook says it will change the newsfeed ranking over the next few months. chief executive mark zuckerberg said it would emphasise meaningful social interactions within un gill friends, rather than the type of newsfeed that critics say is addictive. china is waking up just now and let's checkin is waking up just now and let's check in with the team in india about the latest business story. the security regulator has banned a global accounting firm from auditing listed companies in the country for two years, and to tell us more about this latest development i'm joined by my colleague in delhi. please explain to us what happened. why have they been suspended? let's rewind the clock to 2009. it was in january when the founder of the then leading company had in a letter

confessed to fobbing the accounts of the firm. it came to about $2 billion fraud and that's when the market regulator in india was entrusted with the responsibility to probe the matter and whether the auditing firm was complicit in this as well. price water cooper was at that time the accounting firm from 2000 until 2008. -- pricewaterhousecoopers. the market regulator said pricewaterhousecoopers was complicit in the fraud. they were able to establish that. also the statement from pricewaterhouse is denying any wrongdoing and they are looking at this stage from indian quote on the sword. thank you for updating us.

for centuries the world's wealthy have tried to help tackle the problems of poverty and income inequality, but to some experts the traditional philanthropy model is no longer suited to 21st—century realities. i spoke to someone from the rockefeller foundation which disperses millions of dollars year and he told me what the foundation looks for when it comes to helping those in need. what i care a lot about is what it costs to move a family out of poverty, what it costs to save a child's life under the age of five who might die of diarrhoea. we know we can do that for 10— $15. for a few hundred dollars we can move the family out of poverty. give them a job that allows them to use their own ingenuity to build a brighterfuture. their own ingenuity to build a brighter future. that's the their own ingenuity to build a brighterfuture. that's the ratio

their own ingenuity to build a brighter future. that's the ratio of the return on investment that i care about. what is the current state of philanthropy in asia, regarding the west? there are more than 100,000 foundations in the us. the rockefeller foundation has been around for 104 years. in asia there are 10,000 foundations. part of the purpose of expanding our philanthropic projects, we are measuring and knowing the impact, ensuring money is free of corruption, for those types of families we think there is a tremendous potential as wealth and dynamism in asia continues to explode. we want to work with the next generation of asian philanthropists to change the world. did you know that is, look at that happy face, the first nonstick frying pan was called the happy pan?

it made washing up so easy and teflon was the miracle chemical behind it. it made billions of dollars over five decades. there is another side to its history. it is teflon! the stuff that makes your frying pans nonstick. it is teflon! the stuff that makes yourfrying pans nonstick. so, how was it discovered? it was discovered by accident in 1938 in the labs. an engineer was looking at tfe, the stuff that kept our refrigerators cool stuff that kept our refrigerators cool. he installed it in canisters. 0ne cool. he installed it in canisters. one day he went to get some and found the gas had turned into some strange dry flakes. he found the mystery stuff incredibly slippery, so mystery stuff incredibly slippery, so he worked on it and came up with

a chemical called teflon. in 1961 the first teflon frying pan was sold in america and it was called the hgppy in america and it was called the happy pan because it made washing up so happy pan because it made washing up so easy. now it makes $1 billion seafront teflon and spin—offs. but teflon used to contain a chemical called pfoa, which is linked to cancer and other diseases. last year teflon cancer and other diseases. last year teflo n ha d cancer and other diseases. last year teflon had to pay hundreds of millions of dollars to thousands of people after that chemical leaked from this american factory and that's a sad legacy for the so—called happy pan. thank you so much for investing your time with us. i'm rico hizon. sport today is up next. the top stories this hour: there's been a second day of riots in pakistan after the rape and murder of a six—year—old girl.

rescue workers are searching for survivors following the deadly mudslides in southern california. 17 people are known to have died. shares in marks & spencer dropped sharply after the retailer posted disappointing christmas results, with falls in food and clothing sales. but there was good news for tesco. the show‘s over, we've moved on. but the christmas story for retailers is only now becoming clear. so who are some of the winners and losers? tesco has done well, with sales up today, so have many of the other grocers. but food sales, usually a bright spot for marks & spencer, went into reverse, and there have been profit warnings at debenhams, mothercare and moss bros. things are certainly more challenging here on the high street. take house of fraser, a business under pressure. it saw another fall in sales today.

and you don't have to go far to see how the gap between the weaker and the stronger players is widening. here atjohn lewis, it's had no problem pulling customers in. it's one of the winners today. there's a sort of slight air of caution about people's attitudes, for all sorts of perfectly understandable reasons, but there is demand there. you just have to go and find it, and you have to create the conditions where people want things, and of course that comes down to having fabulous product. and it actually means you have to be outstanding at online and shops. this small but fast—growing online retailer is doing very nicely without shops. and is expecting to grow sales by 90% this year, but some are predicting problems for the high street ahead.

this is going to be the year of retail distress. we've already seen bits of distress percolating through even before christmas, and i think that the weaker players are going to find it too tough to really survive. it's been a season of mixed fortunes for retailers. the new year heralds the clearance sales and some uncertainty about what 2018 will bring. lingerie company says it is deeply saddened after losing its most prestigious company, the queen. rigby & peller has held the royal warrant since 1960. but the decision to cancel it came after the retailer's director, a regular visitor to buckingham palace, wrote a book called storm in a d cup.

time now for all the sports news in sport today. hello, i'm nick marshall—mccormack and this is sport today, live from the bbc sport centre. coming up on this programme: at the double. lionel messi moves into the all—time top ten goalscorers in the copa del rey. all out class down under too. roger federer finds out who he'll be up against in his australian open defence. and who needs snow and ice when you've got a steep mountain road? we go riding with the luger who has a novel approach to winter olympics training hi there. wherever you are around the world, welcome to sport today. lionel messi scored twice in the first 15 minutes for barcelona as they ripped apart celta vigo's defence to make the copa del rey quarter finals. new recruit phillippe coutinho was watching in the stands