this is the business briefing. i'm sally bundock. business leaders will be going to number 10 to be briefed on the draft brexit withdrawal agreement today. but they say it will not change their contingency planning. house prices are set to boom and 55,000 newjobs will be created. we weigh up costs and benefits of amazons move to new york and virginia. and on the markets, a lot on the minds of investors. this is asia, the pound'sjumped on news of a possible brexit deal. japan is weak as it says its economy contracted by 1.2% in the last quarter and oil slumps to an 8 month low. as you've been hearing, uk and eu officials have agreed the draft text of a brexit agreement

after months of negotiations. there's to be a cabinet meeting this afternoon, when pm theresa may will expect ministers to back the proposed agreement. business leaders will also be going to number 10 to be briefed today. they will be lobbied hard to get behind the agreement but business groups have rejected claims by some pro—remain politicians that they are prepared to back any deal rather than face the disruption of no deal. 0ne executive told the bbc: "we expect number 10 to press us hard to support their plans but we are not going to write a blank cheque to the government". dr elaine fahey, reader in law at city, university of london joins me now. what has been leaked so far about this draft agreement and what are your thoughts? it looks like the idea of the continuity of customs

arrangements is paramount. there is nothing ambiguous about what has been leaked from the eu side, entirely consistent with their effo rts entirely consistent with their efforts to maintain the single market. given what you have seen so far, all of the detail may well emerge as the day progresses, what do you think this pathway will look like? it will be a very bumpy road ahead, many who say we are not on—board. ahead, many who say we are not on-board. there are so many voices that have opposed what has been leaked, it seems there will be nobody satisfied or happy with the legal text which inevitably has to bea legal text which inevitably has to be a compromise to satisfy all of the different quarters at stake. you will see there was a legitimate concern in dublin and belfast but also in brussels about whether or not this will politically survive the ride. she has invited a group of

business leaders to number ten today to hear what the detail is, when it comes to the chief executives, some of the prominent businesses in the uk, they actually won't have a say, they will not vote on any of this, they will not vote on any of this, they will not vote on any of this, they will want to have their opinion heard but will have to crack on. the time is ticking. january is a notable date, but it is an extremely short time. in brussels there are a huge amount of contingency plans released, no deal seminars and hereditary areas and matters of consideration, time is ticking, it is in nobody ‘s interest to have any kind of assumption that this is a done deal. from this perspective, we are so done deal. from this perspective, we are so close to the wire some are saying that at work in the prime ministers favour, saying that they realise we have got to get on board

with something. it might not be what we wa nted with something. it might not be what we wanted but we have to crack on with this, we have to do something to enable us to leave the eu in the best possible way. absolutely. there isa best possible way. absolutely. there is a full process in brussels that says that people always lies in london's port. thank you for coming in. we appreciate your analysis. as philippa mentioned, lot of things today, what of meetings. —— a lot. and if you're unsure about the various terms surrounding brexit, then you can go to the bbc news website and look for the brexit jargon—buster, your guide to all the key terms. amazon plans to build two major new campuses, one in new york city and one next to the pentagon near washington dc. it will also expand its operations in nashville.

the three locations could create some 55,000 jobs in the next two decades. we sent michelle fleury to check out what the the new york location is like. iam standing i am standing here in long island city in queens, new york. a former industrial area that over the last year has seen a massive boom in residential high—rise building. now the technology giant, along with virginia, will become home to its second headquarters outside of seattle. amazon's surprise decision is to an end a highly publicised contest which saw over 200 cities and towns across the united states all vying to come home to the retailer ‘s second massive headquarters. why? because it is perceived to bring the massive economic benefits and job. in the

end, it was virginia and new york offering a combined $2 billion in tax incentives that one. the company said part of the reason of the decision was because they were looking for something which had good access to transport, where i am standing is not farfrom access to transport, where i am standing is not far from two airports, but the other factor was talent to. they said it was key to be able to recruit a kind of talent they need to continue to grow and they need to continue to grow and they felt that these two locations offered the best opportunity. now let's brief you on some other business stories. the italian cabinet has decided to defy strictures from the european commission, and stick to its spending plan. after a cabinet meeting, the deputy prime minister, matteo salvini, said italy would stick to its deficit target of 2.4% and a growth forecast of 1.5, both of which the commission had objected to. flybe is reported to have put itself up for sale less

than a month after issuing a dramatic profit warning. the regional airline is expected to say that its board is exploring a sale, or a merger, with a rival, that's according to sky news. last month, the airline warned full—year losses would reach £22m due to a combination of falling consumer demand, a weaker pound and higherfuel costs. yesterday i told you about a flawless nineteen—carat pink diamond that was up for sale. if you were thinking of buying, it's too late now. it has sold for a record $50 million at auction in switzerland. it was bought by the us—based luxury jeweller, harry winston, part of the swiss swatch group. from baby kangaroos to tiny possums, vets in australia regularly see injured native wildlife that need help to survive. and what started out as a desire to help those animals, sparked a very niche business idea. we've been to adelaide in south australia to find out more. and we should warn you that viewers who don't like cute animals should look away now.

it is baby formula for specialised animals. at the time there was really no suitable products for these animals. these animals were effectively being fed cows milk and because they are particularly intolerant of lactose, it may be caring of these animals very difficult and not many of these

animals were able to get through. the big difference it has made is that we can be much more successful at hand rearing. we assess every animal on its merits as it comes in and decide whether it it is for that all can be henry eat and be sent, ideally back into the wild. there are products for pet birds as well and milk formulas for puppies and kittens are. is our more commercial products that helped to finance the more crazy formulas that we can come up more crazy formulas that we can come up with. but before we go, here are the markets. a lot going on. we have had news from japan, its economy shrinking —— shrunk from 2% from july to september. those are the preliminary numbers out of a. the devastating earthquake and typhoon as reasons why. lot worse than expected but it has not impacted trade too much.

hong kong, elsewhere, pretty weak. we have got the price of oil plunging by 7% on tuesday, but there is optimism about talks between the us and china when it comes to trade. and the story about italy not playing ball with the european commission, having an impact on trade in europe later today. i will see you soon. prince charles is celebrating his 70th birthday today. the heir to the throne will mark the occasion by having tea with a group of inspirational

70—year—olds, before attending a private party put on by the queen at buckingham palace. 0ur royal correspondent nicholas witchell has more details. he is said to be more relaxed than perhaps at any stage in his adult life. that was certainly the impression at the london palladium last night for eight special 70th birthday gala, where prince charles met city and sweet. the prince at 70 in these birthday portraits issued by clarence house, with his wife, his sons and their wives, and his three grandchildren, george, charlotte and lewis. he displays the contentment of a prince that has waited virtually his entire life to achieve his serenity destiny. he became heir to the throne at the age of four but has made it his business to fill his adult life purposefully. now increasingly he is taking on some of the duties of his mother. 0n sunday once again, he placed the queens reef at the cenotaph while she watched from about mr big is that they has anything an issue the

importand that they has anything an issue the import and clarification that as king, he will not attempt to campaign on issues as he has done as prince of wales. i'm not that stupid. i do realise that it is a separate exercise being sovereign. that is the only clue he will give as to what sort of king he will be. and while he wait, it is clear that the 70—year—old will remain fully committed to speaking up for the causes which he regards as important. to data, will be one of celebration. petit party with other 70—year—old and a birthday dinner hosted by his mother. for that story and more, breakfast is coming up at six o'clock with dan walker and naga munchetty. this is the briefing from bbc news. the latest headlines: the british government will hold an extraordinary cabinet meeting later on wednesday to discuss the draft agreement on brexit agreed by negotiators in london and brussels.

if approved, it would then be discussed by other eu governments. rescuers in california are searching for hundreds of people reported missing amid the worst wildfires in the history of the state. 50 are confirmed dead. firefighters say the biggest blazes may not be contained for weeks. the un security council has failed to agree how to address the recent flareup in violence between israel and palestinian hamas militants in gaza. hamas has said it will observe an egyptian—brokered ceasefire if the israelis do. let's look at the stories that are making the headlines in the global media today. we begin with the i. "deal done" is the bold headline on the draft brexit deal,

but underneath it lists the hurdles still ahead for theresa may's plan. wired is looking at the fires in california. it says "this is what the reckoning looks like", saying the deadly blazes are a consequence of climate change. staying with the us, the washington post has the revelation that first lady melania trump has triggered the sacking of a national security official. let's move onto techcrunch, it looks at 11/11, better known as singles day in china. it says most purchases on the big shopping day were biometric payments, with chinese consumers accustomed to using their fingerprints or faces to part with their cash. and then the daily telegraph a picture of prince charles and his family. marking his 70th birthday. stephanie hare is back. let's get

stuck in. i would like to get your ta ke stuck in. i would like to get your take on this draft agreement between uk, eu officials. the i says deal done, it is and all the front pages in the uk, many are saying it is not done, there is still a lot up in the air, there is a lot to be done today. yeah, i cannot wait to read the prints here. and there is a lot of it. and for the past you, we have had london, dublin and belfast locked into a real disagreement about how to prevent a hard border being reinstated with northern ireland and