will refund around $500 million of virtual assets lost in a hacking attack. one of the country's biggest exchanges, coincheck, says it will use its own money to reimburse customers who lost their nem cryptocurrency coins on friday. the grammy awards are under way in new york. there is expected to be a focus on sexual harassment, with many artists wearing a white flower in solidary with the time's up and me too movement. and this video is trending on bbc.com. this wild elephant in china went for a stroll across the border into neighbouring laos. the animal neatly evaded the frontier barrier, before coming back a couple of hours later. that's all from me for now. stay with bbc news. and the top story here in the uk: a 28—year—old man is charged with causing death by dangerous driving after a crash that killed three teenagers in west london. now on bbc news, all the latest

business news live from singapore. the chief janet yellen‘s swansong as she chairs the last meeting this week. what can we expect on us interest rates? and young tech entrepreneurs in taipei are ditching the traditional culture of playing it safe. welcome to asia business report, i'm sharanjit leyl. now, it is the key week for the federal reserve. janet yellen will chair the last meeting of the federal open market committee, or the fomc, before handing over the reins to jerome powell, and the two day

meeting will end on wednesday where it is expected to keep rates unchanged. other items on the calendar this week include the united states and south korea entering into their second round of talks to try to salvage their troubled bilateral trade agreement. that also happens on wednesday. and on thursday we will see the titans of the tech world, the likes of alibaba, of the tech world, the likes of aliba ba, alphabet, and of the tech world, the likes of alibaba, alphabet, and amazon, posting their earnings that day. i spoke earlier to the chief investment officer for the asia—pacific at deutsche bank. investment officer for the asia-pacific at deutsche bank. we don't really think there will be any material announcement, because as we said, it is the last meeting as chairwoman, so hence they will keep the interest rate unchanged until of course she hands over tojerome powell, and then we would expect the first rate hike to happen in march. and we know that in the interim we have the low interest rate

environment. yes, there have been small hikes, but we have also had us tax cuts which have been helping corporate sentiment a great deal, driving up those stock markets, for instance. when do you think these will start to have an impact? so we think the risk is more on the upside, especially on inflation. so if tax reform comes through much better than expected, we have seen and heard already the example of apple announcing they will move much of their money back to the us, and hence this can cause inflation may be to move even higher than the fed would expect, and hence then they might bea would expect, and hence then they might be a little bit more expressive than the three rate hikes the markets have priced in now. now, if you don't own any ikea furniture yourself, you probably know someone who has struggled to put together an ikea bookshelf with an allen key, for instance. we know the furniture

is pretty much everywhere, and that is pretty much everywhere, and that is why tributes have been flowing in for the founder of the swedish furniture giant, ingvar kamprad, who has died over the weekend. we are joined by our business reporter in the studio to tell us more about him. he has been described as one of the world's greatest entrepreneurs and as the man who democratised furniture, making it accessible. he was born in 1926 on a small farm, struggling with dyslexia but having a very canny business sense. he started selling mattresses, before launching a mail order business called ikea, which has since grown to become the world's biggest furniture retailer. there are more than 400 stores in 49 countries now and it rakes in 40 billion us dollars a year. but his life was not without controversy, he was forced to apologise for supporting fascist groups when he was younger. he has called that the greatest mistake of

his life. he also suffered from alcoholism and lived much of his life outside sweden, settling in switzerland because he did not want to pay sweden's income taxes. sounds like he had a colourful life indeed, but what kind of corporate legacy does he leave? what happens to ikea now? there are a couple of things, he made sure that ikea could not be broken up. he wanted it to remain a private company and not be listed on the stock market so he created a complicated business structure. the other thing is his corporate philosophy lives on, he thinks simplicity is great and waste is sinful, so he was a very frugal man, one of the world's richest man with a fortune estimated at $60 billion but he flew economy class, stayed in budget hotels, he recycled his tea bags, so he took that ethos and he has applied it so that everything is kept low cost and people are not wasteful. thank you for that on ingvar kamprad, who has died at 91.

the city of taipei is stepping up effo rts the city of taipei is stepping up efforts to turn itself into a hub for start—up technology companies. one major challenge has been encouraging people to try to strike out on their own, and so officials in taipei are working hard to tackle a culture of playing it safe. we will take a look at whether that is working in our next instalment of asia's silicon valley's. —— valleys. -- valleys. so basically you are stepping into another world, where you can see sound. you can move it around, change the actual pitch. you are inside a song. it is going to really disrupt everything, so i pretty much just focus everything i

do, and pretty much dropped all of my clients and started working in pr. -- vr. people have to be more optimistic, more willing to hear about start—ups, helping them to do the right things. we have to find a way to help them, to support them. it is the general approach of being too reserved and not rewarding

people who take risks. and staying with tech, microsoft says not all us firms were necessarily benefit from donald trump's tax reforms, which have slashed the corporate rate to 21%. many tech giants are worried about the impact of immigration restrictions. the bbc‘s sally gunnell. —— sally bundock asked the company's president about it. the lifeblood of technology is always people. you always have to do a greatjob of hiring locally, but you are going to succeed on a global basis only if you have a world—class tea m basis only if you have a world—class team which has team members from around the world. so immigration is fundamental to all of us in the tech sector, and that is why we have been so vocal on immigration issues. you

we re so vocal on immigration issues. you were impacted it is accompanied by the intel chip security breach, as it were. many people worldwide, not just microsoft users, but other apple users, were left hanging for weeks. that was handled rather badly, do you think? first of all, there is a lot of opportunity to learn, as there always is. it is a security issue which affect all of the chips, most of the devices and operating systems in the world. the challenge with these kinds of questions is that you don't want to publish the news about a vulnerability immediately because you don't want the news about it to be out before it is fixed. that is like putting a big flashing light and asking every cyber criminal to attack here. that is the worst thing we can do in terms of public safety. at the same time we are all having to learn how we work together across the industry, how do we move as fast as we can to fix the problem, which requires collaboration, and still think about these questions you are

quite rightly raising as well. those who want to commit these cyber crimes are there, fast, and wanting to commit these crimes all the time. i think to commit these crimes all the time. ithink in to commit these crimes all the time. i think in terms of cyber security the industry doesn't good job most daysin the industry doesn't good job most days in terms of putting public safety a nd days in terms of putting public safety and consumer security at first. we have lots of other areas where we can compete, we need to fix these problems and protect people, and that i find each day, most times, is the overriding focus. and australia's commonwealth bank has named its new chief executive, who will take over from the current boss in april. he comes in at a challenging time for australia's top lender, which has been accused of a series of scandals including allegedly breaching money laundering laws. and coincheck will use its own

funds to refund customers after they lost millions of dollars in digital assets. the hackers stole nem, which is the biggest currency by market cap. and on the markets, we can tell you that they are all pretty much higher. the nikkei, which has opened as well, is higher. they are taking their cues from wall street which closed at another record high. we know that the yen is actually strengthening, taking a toll on exporters. that is it for this edition of asia business report. thank you for watching. one of japan's biggest one ofjapan‘s biggest trip to currency one ofjapan's biggest trip to currency exchanges refunds half $1 billion after an attack by hackers. —— $500 million. the grammys are under way in new york, with

attendees wearing white roses in solidarity with victims of sexual harassment. a man who was being sought by police investigating a car crash that killed three teenage boys at a bus stop in west london is in police custody tonight. the 34—year—old was arrested after handing himself in at a police station. more tributes have been left today at the scene of the crash, in hayes, as our correspondent ben ando now reports. more flowers, more messages and more candles, from their families, their friends, or those who didn't know them but wanted to pay their respects. the boys were killed when a black audi mounted the pavement near this bus stop, in hayes, struck them and then a lamp post. a 28—year—old man was detained in a nearby garage. a 34—year old man wanted by police handed himself in this evening. both are being held on suspicion of causing death by dangerous driving. the victims have been named as, from the left, josh mcgunniess

and george wilkinson, both 16, and harry lewis wright, aged 17. among those paying their respects earlier, george's grandfather. i wasn't going to stop, but i had to in the end. how do you feel now that you've come here? upset, but i'm pleased to see it. yeah. but as well as grief, there is anger. it is unclear exactly how fast the audi was going, but the speed limit on this stretch of road is 60 mph. many local people say that is way too high. a retired police officer told me his son spent a year in hospital after being hit here by a speeding driver racing his friend. i am angry, yes. i'm very bitter about it. after my son's accident, there have been other accidents, as well, so one would have expected for the authorities to do something. as the shock of what happened continues to sink in, and while the police continue to question those in custody, the focus is turning to making sure no other young lives are lost here.

ben ando, bbc news, hayes. jeremy corbyn says a labour government would buy 8,000 homes immediately for people sleeping rough on the streets. as part of his party's new policy, local authorities would be given powers to take over properties that were deliberately kept empty. figures released last week show that rough sleeping in england had increased for the seventh year in a row. time now for all the sports news in sport today. hello there. i'm tulsen tollett and this is sport today, live from the bbc sport centre. coming up on this programme... getting better with age, as roger federer wins grand slam number 20 at the australian open. barcelona come from behind to beat alaves and preserve their unbeaten league record in spain. and china's li haotong holds off rory mcilroy to become the first

asian player to win the dubai desert classic. hello and welcome to the programme, where we start wih tennis and roger federer has underlined his status once again as the greatest of all time in the men's game as he won a 20th grand slam title at the australian open. he did so with a five set victory over marin cilic as james burford reports. the warning signs were there for all to see. 20 grand slams the prize for the swiss. he is already the most successful male singles player of all time. what an arena to surpass another milestone. not one to waste time, he started fast. this forehead looked as strong as ever. just 24 minutes in, and you did not give roger federer a second chance. in the heat, somehow he kept