and said he believes putin's claim that moscow has never meddled in american elections. there's been a scathing reaction in the united states, from many republicans and democrats alike who expressed dismay that president trump cast doubt on the reliability of us intelligence agencies. hundreds of thousands of people have crammed ono the champs elysees in paris, to welcome france's world cup winning team home. and this story is trending on bbc.com. george clooney has set a new record for the highest earnings by an actor in a calendar year according to forbes magazine. he made an estimated $239 million — though much of that was due to the sale of his tequila business. that's all. stay with bbc world news. and the top story in the uk — theresa may, has narrowly won a series of votes in parliament to her brexit policy, after she accepted four amendments put forward by supporters of a hard breakfrom the european union. now on bbc news, live to singapore

for asia business report. the stock price of netflix plunges. can it continue to grow or had reached its peak? and check out a rare fungus in the himalayas that is more expensive than gold. good morning, asia. hello, world. it is tuesday and glad you could join us for another version of asia business report. we start off with netflix. is it too good to impress? shares in the streaming service down by over

1496 the streaming service down by over 14% after adding fewer subscribers than expected in both its international and domestic markets but has it reached its peak? dave lee is our technology reporter who has been following the story. this isa has been following the story. this is a company that typically doesn't do bad. reports that this is a blip. it could be a downturn long—term for netflix. they have told investors to expect 6.2 million new subscribers to netflix worldwide and instead they only managed 5.2 million subscribers. one that flicks is on the one hand celebrating creative success “— the one hand celebrating creative success —— netflix. they had more than 100 any nominations last week —— emmy nominations. the only metric that investors ca re —— emmy nominations. the only metric that investors care about is growth. when it is not as good as netflix

anticipates then this is why we have seen the reaction from the markets today. for investors, critical acclaim is worthless unless it translates into a booming business. have the numbers already peaked ? a booming business. have the numbers already peaked? analysts are saying, come down, be cautious. the analysts i spoke to say this is just a blip. there is still a lot of scope for netflix due get more subscribers. they are investing $8 billion into original content and there is still a lot of global expansion they can chase after as well. investors are saying not to panicjust yet. president donald trump is facing harsh criticism back home for refusing to hold russia are accountable for meddling in the us elections. acclaim at russian president vladimir putin denies. politics could —— took centre stage in helsinki. they have had sanctions

against one another. ——a claim. it has been challenging to do business. it has been difficult and in the last three years, it has become more and more difficult as the sanctions ramped up on a regular basis. the expectation is it is not going to change any time soon. while the press c0 nfe re nce change any time soon. while the press conference of trump and putin is stealing all of the headlines, it is stealing all of the headlines, it is trump's stance on trade. one of his moves is pulling the united states out of the trans—pacific partnership. the remaining 11 members are moving forward injapan without washington. also, a renegotiation was called upon for the nafta agreement. he has also levied tariffs on china, threatening

to wage a trade war with the world's a second largest economy. this scenario has created an endless cycle of risk off, risk on, making it challenging to investors. the market has a natural cycle of things and it used to be that every three months you got earnings seasons. you have risk on environment where people start putting bets on companies they think will outperform expectations and punishing those which are like, like we just saw with netflix. after that, it is quiet. kind of nothing to do. now with the trump presidency and his aggressive style of management, it isa aggressive style of management, it is a risk off because ceos aren't talking and only he talks. which particular sectors will whether these risks in the medium — long—term? these risks in the medium — long-term? there are two ways to think about it. firstly, if you're

just worried about the trade war itself but you think the economy is going fine, then you will choose to avoid the sectors that are directly targeted by those tariffs. you will start to play the sectors that are not. if you are worried this trade war could escalate and damage the economy and slow down everything else, you are talking about a risk of environment and talking about going into bonds, selling equities, buying utilities and parking your money somewhere. buying utilities and parking your money somewhere. speaking of trade tensions, the international monetary fund has warned that tensions between the us and the rest of the world could cost the global economy 430 billion us dollars. shares in kessler are falling after a british caver who helped rescue 12 boys from a thai cave says he may take legal action against elon musk who called

him a pedo when he —— make his mini—sub was dismissed as a pr stu nt. mini—sub was dismissed as a pr stunt. —— tesla. the escher is the biggest event in funds bra. —— it is the biggest event. in farnborough. these planes are on their larger side. this is a very large industry. it is worth about $7 trillion per year. a lot of the cargo is carried around in normal planes, on flights that you or i might take. but what if you want to take something bigger oi’ if you want to take something bigger ora if you want to take something bigger or a heavier, mining if you want to take something bigger ora heavier, mining equipment, if you want to take something bigger or a heavier, mining equipment, for example? then you might need something a bit more like this. massive machines. have you heard of the world's most expensive medicinal fungus, worth more than its weight in gold? every year,, then the

police put their lives at risk to search for this fungus. a valuable medicinal fungus. a valuable medicinalfungus. thank you forjoining us. i'm rico hizon, goodbye for now. this is bbc news. the top stories this hour: donald trump says he believes vladimir putin's claim that russia never meddled in us elections, putting him at odds with his own intelligence services. mr trump also said relations between moscow and washington had never been worse, but that the helsinki summit had started to change that. a peninsula in northern scotland has been chosen as the site of the uk's first spaceport. rockets carrying satellites could be blasting off from sutherland in a few years' time, paving the way for space flights. the government is also setting aside money to develop sites in cornwall and gwynedd in wales.

our correspondentjon kay has more. it is not exactly cape canaveral but this quiet boggy land on the north coast of scotland is set to become britain's first space port. smaller rockets like this could be blasting off from the a'mhoine peninsula in the next five years, after the uk space agency chose this site for development. for the local community it will be quite a change. until now, this scottish company has had to send its satellites to india, china or kazakhstan to get them to to space. they say being able to lift off from the uk will rocket boost the domestic industry. the very north of scotland is a great location to be able to get to the right orbits for the satellites we do, because it is very far north and we can get into what is called a polar orbit, so it will go

round the poles of the earth. nearly 800 miles south this is newquay airport. they have announced ambitious plans today. this was only going to a few miles to the isles of scilly, but soon satellites could be launched from here too. not the kind of vertical rocket lift—offs planned for scotland, but horizontal launches by planes. this afternoon cornwall council signed a deal with richard branson‘s company. for this engineering firm in bodmin, it is all a sign that britain's space industry is on the up. this is a really carefully machined part. the precision parts they make here will soon be used in a nasa mission, to carry out the biggest ever survey of fresh water supply. they say today's announcement in northern scotland and here will mean the uk can play a confident, long—term part in a growing global business. britain's space industry has waited a long time for today's announcement, and while the news has been welcomed, experts say it is only a start, and the uk will have to act quickly if it is going to stay ahead. southgate tube station has been

temporarily rebranded it gareth southgate. they wanted to show its appreciation to the england manager for all of his efforts during the world cup with the team of course finished fourth. it will revert to its original name after 48 hours. that is it from me, you can get in touch with me from twitter. mike embley is here in 15 minutes time with the rest of the day's news. now it is time for sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: paris painted bleu, blanc, rouge — blue, white and red — the colours of the national flag, as the triumphant world cup winners, france, are welcomed home. there's a similar homecoming for the runners—up, croatia. despite defeat in the final, the players are given a heroes' reception. a summer of sport continues, as the world's best golfers prepare to take on one of the world's hardest courses.

we look ahead to the open. hello, and thanks for joining us on sport today. world champions france have made a heroes' return to paris as hundreds of thousands of fans took to the streets of the french capital to welcome their world cup winners home. the 4—2 victory over croatia in moscow on sunday has cemented france's reemergence as one of footballs superpowers and brought the country together, as witnessed by hugh schofield our correspondent in paris.