this is business live from bbc news with alice baxter and david eades. the us congress has until midnight to agree a budget deal — or see government services shut down. live from london, that's our top story on friday 19th january. all eyes will be on the us senate today. hundreds of thousands of government employees could be sent home if the two major parties fail to overcome their differences. also in the programme... the controversial founder of uber — travis kalanick — becomes a billionaire after the ride—hailing company completes a massive round of funding. and we'll keep you up to date on all the latest market action where over in asia, stocks shook off losses on wall street and edged up to record highs on friday. whilst europe looks to be heading for a muted finish to the week.

and it's been a busy few days for the likes of apple, emirates and blackrock. we'll be taking stock with our business guru theo leggett. today we want to know, why are millennials not playing golf? the popularity of the sport is falling all around the world. is it to expensive or does it just take too long? let us know. just use the hashtag bbcbizlive. hello and welcome to business live. the government running the world's biggest economy is staring a shutdown in the eyes. that's what will happen if the united states congress doesn't agree a budget deal by the end of friday. late on thursday, the house of representatives passed a short term bill to fund the government until february 16th but getting it through the senate is proving much more difficult. one major sticking point is the fate of 800,000 so—called dreamers — people who came to the us illegally

as children and face the prospect of deportation. democrats are using the budget talks as leverage to try and stop that. then there's the children's healthcare programme — which provides insurance for millions of low income kids. it cost $16.9 billion last year and president trump wants it reformed. so what if congress can't agree? last time the government was forced into a partial shutdown was in 2013. 850,000 staff were sent home, museums and parks were closed, and services from visa processing to mortgage approvals were disrupted. the potential economic damage is also very real. the 2013 shutdown lasted just 16 days, but knocked a third of a percent off us growth for that year. that's why the us dollar has been falling as the stalemate continues. jacob parakilas is assistant head

of the us and the americas programme at the international affairs think tank chatham house. thank you for coming in. these are pretty high stakes. we are getting down to the 12th hour. a simple question first, what's your gut?” think it might turn into a shutdown. the democrats are clearly trying to use it as a leveraged point. they have minority in both houses. areas where they have influence are relatively few, but this is one. they can defend the dreamers programme, which everybody agrees needs to be extended. and the children's health needs to be extended. and the child ren‘s health insurance programme, massively politically popular. they are standing on relatively solid ground on those two points, but it's not clear how the politics will play out with midterms coming up in november. everybody playing a bit of brinksmanship. it's

interesting because president trump went so far is to say it could happen, andi went so far is to say it could happen, and i wouldn't say he was sanguine about it, but he was ready to let it happen. he was recorded as saying, we need a good shut down, at one point. he doesn't see it with the same kind of fear as other presidents. i don't think he necessarily has the same appreciation for the breadth of what the federal government does and the impact of how the federal government works and how it places into different sectors of the economy. for another thing, i think he is willing to make threats and put things on the negotiating table that other presidents haven't been. he's expanding the scope of possibility. alice was just explaining that one third of 1% was lost from growth last time around and that was just 16 days of. that's the last thing the president would want in terms of trumpeting the value of his presidency and boosting the economy.

0ne presidency and boosting the economy. one thing he has been very regular about is saying the stock market is up, there are jobs, about is saying the stock market is up, there arejobs, and that's because of my presidency. if he allows the shutdown, if he doesn't intervene or make it possible to reach agreement, then those numbers will fall off and he will have to find a new thing 2.2. we should point out it is only a short—term fix. -- fight a new thing to point to. let's take a look at some of the other stories making the news... google says it's agreed a patent licencing deal with the chinese tech giant tencent. it's being seen as a way of expanding its presence in the country where many of its services are blocked by the government. the firms haven't said which products are covered or released any details of the financial terms. europe's biggest bank hsbc has agreed to pay $101 million to settle a us criminal investigation into rigged currency transactions. the bank admitted its traders twice misused confidential information provided to them by clients for its own profit. the tech giant ibm has

reported its first rise in quarterly revenue in nearly six years. the company brouught in a higher than expected $22.5 billion as it saw a turnaround in its fortunes after investing in markets like cloud computing, ai, blockchain and security. however the october to december period brought a $1.1 billion loss because of a one—off tax charge related to president trump's tax reforms. uber co—founder travis kalanick has officially become a billionaire after the ride—hailing app sold a stake to a group of investors led byjapanese firm softbank. leisha santorelli is in singapore with more on this more developments at uber, as well

as the expanding wealth of its founder. that's correct. travis is being paid handsomely to cede control of the company he built up. the deal is complete, it's been going back and forth for about seven months. japan's softbank is now the majority shareholder of buber in a $9.3 billion deal. dubai is one of the most valuable is start—ups in the most valuable is start—ups in the world. —— uber is one. at one point it was said they would invest in the uber rival, lift, if the deal fell through. after a series of scandals that hurt uber‘s reputation, they were pushing for more reforms. all of this has been agreed and uber will create some additional board seats and also do something quite interesting, eliminating super voting stock

rights. these are held by early employees and backers of the company and it also means early backers like travis kalanick will no longer have a significant say in how the company is run. we also seen reports that the new owners, softbank, wanted to focus on the us and european market and avoid costly battles for the market share in india and southeast asia. thanks leisha. staying in the region where asian markets mostly rose on friday, edging up to record highs, after another positive week across trading floors but, as we saw in hong kong, investors‘ appetite was being tested by profit—taking and worries about a possible us government shutdown. wall street came off record highs to end lower as washington lawmakers bicker over that federalfunding deal. china's announcement of faster—than—expected fourth quarter growth saw shanghai climb 0.4%. that unease over washington's uncertainty is adding to pressure on the dollar, which is down against its major peers as well as most high—yielding currencies. languishing at a near

three year low. meanwhile here in europe, at the end of what has been a fairly directionless week, stocks have opened with marginal gains but there's a general feeling that markets lacking a clear direction and could move sideways through the session. those marginal gains are only in some quarters, and not here in london. and samira hussain has the details about what's ahead on wall street today. fresh consumer sentiment numbers will be released on friday and it's expected to have brightened. the university of michigan surveys of consumers is likely to show its preliminary january consumer sentiment index rose to 97, from december‘s reading of 95.9. in earnings news, oilfield services provider schlumberger will release results. the company is expected to post a bigger quarterly profit as north american shale keep outpacing international growth. despite some early warnings about growth flat—lining, shale production is poised to push

us oil output at more than 10 million barrels per day, toppling a record set back in 1970. joining us is simon derrick from the bank of new york mellon. good to see you, as ever. it's the ailing dollar that catches your eye. it is. on the face of it, it looks like it looks like it's about the shutdown. you'd expect moderation in the dollar and interest rates. when you start to dig into it, it looks like there is more going on. interest rates are still rising in the us. markets are doing extremely well and the dollar has been falling for 12 months. you start to look for other answers. what you see, particularly over the last month, is a sharp acceleration down since mid—december. it looks like it might be connected to the tax deal, it might be connected to people being

concerned about growing fiscal deficit and at the same time you still have a huge trade deficit in the us. you have to go back to the mid—19 80s, the last time we saw these worries in the dollar. yields are high, growth in the us, and it's are high, growth in the us, and it's a conundrum. the dollar is still falling in value. and it's a reserve currency so who is suffering around the world? the australians and canadians have complained, no surprise. but europeans have also complained, the head of the european central bank in france, it's gone through a level of 120, that's the area where airbus becomes uncompetitive. i wouldn't be surprised to see more out of them. whether they can do anything about it, a different matter entirely. quick yes or no, will it fall further? yes. what

we'll be taking a look back on a busy week in business. the world's biggest money manager says that companies need to focus on more than just profit— we'll bring you all the details. you're with business live from bbc news. construction firm carillion collapsed on monday, leaving a question mark hanging over thousands of uk jobs. last night, business secretary greg clark met with representatives from businesses and trade unions to figure out what happens next. our business correspondent jonty bloom joins us now. good to see you. what does happen next then? we have some details from the meeting. we know representatives from the construction industry are desperately trying to take over apprenticeships carillion was running, training young people up in the industry. there is a skill

shortage in the uk in that sector. we also know the tax collector, reve nu es we also know the tax collector, revenues and customs, it will basically allow customers to defer some of their tax if they have been hit by carillion. we know the banks are putting significant amounts of money aside to be available to companies, subcontractors, for instance, who have a shortage of cash at the moment. how supportive can the government task force be seen can the government task force be seen to be, because it's a private company but with lots of public sector contracts. yes, and those contracts tend to be continuing. government and local government have provided the money to keep employing people. some companies like nationwide, the large bank and building society in the uk, our drinking staff into the company to continue cleaning their offices and so on. it's not all down to government. —— are bringing staff. this was the second largest construction company in the uk and

its collapse brings out the huge capacity in building and service providing. probably what will happen is the government will have to renegotiate all the contracts carillion had, find other people to do itand carillion had, find other people to do it and probably pay them more. let's not forget, carillion was running the contracts and went bust. thank you. and carillion has been the domestic business story of the week. much more on the bbc website, including some other stories that have caught our eye, including this about a huge atm shake—up that many are fearing could leave communities across the uk without a cashpoint. that's thanks to a report from consumer group which? they want to reduce the amount they charge banks and building societies to use their machines with link. you're watching business live. our top story.

late on thursday, the us house of representatives passed a short term bill to fund the government until february 16th but getting it through the senate is proving much more difficult. hundreds of thousands of government employees could be sent home if the two major parties fail to overcome their differences. and it's been another week of big stories in the business world. the boss of the world's largest investment fund, blackrock, called for all companies to do more than just make profits. meanwhile apple says it's going to be paying the us government the largest tax payment it's ever received. our business correspondent theo leggett is here. where shall we start, maybe black rock? it struck me, on the surface, haven't they got the message yet that you have to do more than just make money? blackrock writes to the

large companies every year to encourage them to invest, but this time it's different, he is saying in so many words that governments are not doing what they should in terms of preparing for the future. so companies have to do it and therefore ceos don'tjust have to look at their financial performance but at the social impact of what we are doing. not only the benefits to shareholders, for employees, but for society at large. how much clout as the ceo of the major company actually have in terms of reforming corporate governments? blackrock has enormous influence over these companies. when it comes to how companies. when it comes to how companies operate the criticism has been and major shareholders like blackrock don't use the influence that they have over boards. so for example when it comes to chief executives's remuneration or climate

change policies and so on asset managers tend to vote in favour of the board, and not to promote restructuring, or promote better corporate policies. so now he says they should consider doing this and chief executives and directors should pay more attention to these issues throughout europe, notjust at the annual general meeting. we should have a quick word about apple. a lot of money going into government coffers, mr trump will be pleased. it's a huge amount of money, these tax changes have been a flagship of the trump presidency. although it is a lot of money it is much less that apple would have paid if it hadn't parked all this money offshore facility. because what they can do now is pay a flat tax rate of 15.5% and then they can bring the money back at will. if they'd brought the money back before these

reforms they would have paid a much higher level of tax. so in fact apple has done rather well out of this. other companies are likely to be significant amounts of tax, companies like google and microsoft. when it comes to aeroplanes what you don't know is not worth knowing. what is your take on emirates butting in this order for the airbus 380, it wants 36 of them. a lifeline for the planes? definitely and in the interests of the company, they set its business model, which involves transporting huge numbers of people over long distances. from the point of view of airbus they need another order to keep production going because they don't have a great backlog. this order allows them to keep producing the airbus 380 for another ten years. in that time the aviation market is expected to grow enormously and by that time airports will get more congested especially in asia and the

business case for the airbus 380 which isn't really that at the moment, will begin to look more logical. that's interesting because i thought perhaps it was a tapering off of its best years. there's an i thought perhaps it was a tapering off of its best years. the-é; ahead time. thank you. now we _§e eli? to ; about golf. when it comes to golf donald trump has thrust the game into the headlines like never before since he became us president. but the number of americans playing golf has been falling steadily in recent years. and it's a trend also being seen in the rest of the world. so what's going on? mariko 0i is at the singapore 0pen on the island of sentosa. some of the world's top golfers are here at sentosa golf club for the singapore 0pen which is sponsored by it as nbc, a bank that has announced it as nbc, a bank that has announced it is going to extend its sponsorship for another three years. great news for the organisers, the s m bc. the tournament used to be

sponsored by barclays but when they pulled out in 2012 the tournament couldn't find a sponsor straightaways at the event was put on hold for several years. but even though the extension of sponsorship is good news, the prize money is down to $1 million. which is of course a lot of money to you and me but not for the golf industry. it used to be $6 million with barclays so companies have been under a lot of pressure, whether it is a wise idea to keep sponsoring sporting events. this comes at a time when a number of golfers has been falling around the world. the decline in asia is not as sharp as in asia or the uk but it seems as if millennial is simply not picking up the sport, partly apparently because they can't be on partly apparently because they can't beona partly apparently because they can't be on a smartphone on the golf course. i am be on a smartphone on the golf course. iam not be on a smartphone on the golf course. i am not sure how accurate thatis course. i am not sure how accurate that is but at least golf is now an 0lympic that is but at least golf is now an olympic sport, since 2016, so the world of golf is something that would give it a boost. thank you,

mariko. mariko's husband is a golf professional but she's never picked up professional but she's never picked upa club professional but she's never picked up a club in her life! we wondered why millennial is seemed to have switched off the game. an avalanche of responses on twitter. this one from aerial rows. we are shunning it because we're not 80 years old. that's a good start! someone has just said that is factually correct and very unfair. someone else says, expensive, not fun, elitist. pretty negative stuff. many in a similar vein. neil says most clubs are still in the dark ages so any millennial ‘s will walk in, walk out and never return. we should remember that our producer is a millennial and he likes golf. a few more of that age, the clubs themselves cost more than just getting everybody‘s golf on ps four. not going out costs much less money! that's one approach! very

sad. simon is with us again. your thoughts on golf? clearly i like the stupid trousers and the site is! i gaveit stupid trousers and the site is! i gave it a go. i wasn't great but i found it boring. sorry to all the golfers. a good walk spoiled. apology accepted. i am boring enough to love golf. let's have a quick look at some of the stories that took our eye on the business pages. starting with the telegraph. this hugely important summit taking place between the french president and the uk prime minister. but the person stealing the headlines is boris johnson. he's called for bridge across the channel. hardly a shock that our noble foreign secretary would steal the limelight from the prime minister at a moment like this. clearly not the first time.

you get the sense that this is more about domestic politics than anything else, just a reminder that boris is constantly there. roy wood business perspective the markets will take this as a reminder of the fragile nature of uk politics. to any of us believe bridge will be built? probably not. interesting that the french president said that was a good idea, and said let's make it happen or words to that effect. another throwaway line? serra two parts to. from the perspective of infrastructure spending that could bea infrastructure spending that could be a boost to the economy, and perhaps just a bit of sterling with regards to the brexit negotiations, a little aside to boris rather than theresa may. i suspect he was just having fun and stirring the pot. probably the best line that came out of it all. enjoyed that one. and the focus is on china's economy, which

has gone up 6.9% from last year, against expectations. your expectations? in fairness, against mine as well, i would have placed it lower than that. questions can a lwa ys lower than that. questions can always be asked about chinese numbers, the economy is doing better over the course of the last 12 months. but in spite of the threat that the government has been doing its best to put constraints on it. what is particularly good is about this is that it gives the chinese authorities greater flexibility in their drive towards liberalisation. co mforta ble accou nts, interest rates, foreign exchange, or things they have been aiming to deal with through the second half of the decade. this gives them the opportunity to push ahead with that because relatively speaking the economy is in a reasonably robust place. is it tenuous to draw a link between this accelerated growth in china and the fall in value of the

dollar, the fact that china has reduced its stockpile of dollars.” think it's fair to say that since 2014 china has been moving towards liberalisation. i think what is true again is in the second half of this year china has been pulling back, it is liberalisation. that is a good thing. the us president would support that view. simon, we will leave it there, have a good weekend, get out your diamond sweater and those trousers, have another go on the golf course. that's it from business live today. thank you for watching. bye bye for now. good morning. more wintry weather

expected for the north and the west of the uk today. some heavy snow showers moving in once again. the south and east they will be good spells of sunshine, but seems like this from yesterday were once again be with you from across scotland, northern ireland, but with heavy snow moving in south—west scotland but that is most concerned. there could be disruption to travel today. the met office has issued an amber warning, be prepared, just to the south of glasgow and towards dumfries and galloway. further snow showers coming into the north and the west, the east is looking largely dry and bright with sunshine, heavy snow into the north west, could see between five and ten centimetres of snow on higher ground, but is why they've got but be prepared warning. further snow showers and northern ireland, a bit

on the higher ground of north—west england, and wintry showers with sleet and hail across wales and the south—west of england, which i was coming in, down towards the south and east drier and brighter weather through the course of the day. it will feel cold out there. brisk westerly winds, while temperatures might say two or three degrees in northern areas, 6 degrees higher in the south that add—on that wind—chill, this is how it will feel if you are out this afternoon. this evening and tonight ice will be a risk, lying snow and further snow showers of snow coming in and then rain will spread into southern areas early on saturday morning, keeping temperatures above freezing, clearer skies that the north and east. this rain might bring snow over the wreck and beacons, that rain clears, staying cloudy in southern areas, the best sunshine in the far north and east, looks like a dry day on saturday. s fall of us as we go into

sunday, moving towards iceland, this should bring more train towards sunday, some snow over the pennines, up sunday, some snow over the pennines, up into the highlands, over the grampians, heavy rain expected especially in western areas in the afternoon, look at those temperatures reaching double figures still staying cold towards the north and east. more details on the website. that's all from me, bye bye. hello it's friday, it's 9 o'clock, i'm chloe tilley, welcome to the programme a simple blood test to diagnose cancer. scientists in america are trialling a test which can detect eight forms on the disease. it's being hailed as a major breakthrough. i look forward to a time in 10 years where we all go to the pharmacy, we buy our shampoo, we give a blood test. and we get on with our lives.

the nhs is spending more money on diagnostics than treating the disease. we'll have all the details and ask when it might be available in the uk. the californian couple accused of imprisoning, abusing and torturing their 13 children plead not guilty in court. we'll have the latest.