this is your business briefing. out on bail. the chinese technology executive stopping our president trump said he may intervene if it would help get the china trade deal. and another possible easing of those trade tensions, china proposes to cut tariffs on us made cars from a0 to 15%. and financial markets therefore are looking on the bright side, you can see strong games on the main markets across asia as there seems to be progress on those trade. —— trade talks. a top huawei executive facing us accusations of iran sanctions violations was granted bail in canada on tuesday,

hours after a former canadian diplomat was said to have been detained in china. meng wa nzhou, huawei's chief financial officer, faces extradition to the united states, meng wa nzhou, huawei's chief financial officer, faces extradition to the united states, where she is wanted for allegedly violating iran sanctions, but beijing has expressed outrage over her detention. meng wa nzhou, huawei's chief financial officer, faces extradition to the united states, where she is wanted for allegedly violating iran sanctions, —— the list of strict conditions of her release pending the outcome of the extradition case is lengthy, and includes the surrender of her passports and electronic monitoring. 0ur north america correspondent peter bowes reports. another day in court for the chinese telecoms executives, with tensions running high. market is accused of covering up huawei's ties to a company that sold equipment to iran in defiance of sanctions. the us wa nts in defiance of sanctions. the us wants her extradited to face trial. she denies the charges. bail was set at 7.5 million dollars. meng wanzhou

will be under constant surveillance and will have to wear an electronic tag. extradition proceedings could ta ke tag. extradition proceedings could take several years. donald trump has said he could intervene in the process if it would serve national security interest or help close a trade deal with china. for now, the bail decision will ease tensions with china, which has threatened severe consequences if it had been refused. but relations between the two countries remain strained, following the detention of a canadian former diplomat in china. the canadian foreign ministry has said there is currently no explicit indication of any link between the case and meng wanzhou's arrest. but according to the prime minister justin trudeau, it is being taken seriously. washington has also expressed concern. we urge china to end all forms of arbitrary detention

and to respect the protections and freedoms of all individuals and their china's human right and consular commitments. the arrest will add tojitters in consular commitments. the arrest will add to jitters in the financial markets, with fears it will only exacerbate us china tensions in the current trade negotiations. financial markets today are feeling more confident about the outlook when it comes to the trade tensions between us and china. china has reportedly proposed cutting tariffs on us—made cars to 15%, the same tax levied on imports from other countries. let's go to our asia business hub where rico hizon is following the story. nice to see you. at the moment, it is just reports, but it is really boosting trade on financial markets are. even though it isjust a

report, it is feeding a lot of optimism on this ongoing trade negotiations with the us could be resolved within the three month truce period both the us and china agreed on. the use of the potential tariff reductions sending shares of us automakers surging and the report said that china's cabinet will review the proposal to cut tariffs, so review the proposal to cut tariffs, so at this point there is no definitive as of yet. —— nothing definitive. president trump tweeted that reproductive conversations are taking place, expecting important announcements to come. this car tariff announcements to come. this car ta riff gesture announcements to come. this car tariff gesture is the latest in a series of developments this week, as china intends to resume purchases of american soy beans, with officials planning to buy between five and 8 million tons, china said it would implement reforms in the areas of science and technology and put more

effort into protecting intellectual property rights. if you take a look at its recent history, because it gives investors a reason to be cautious about these reports by the march one deadline, because beijing has shown a pattern of making promises it does not implement or that ultimately do not satisfy the united states. 0ne analyst said this could be the first of many symbolically significant and substantially diddly modest concessions that china offers in order to prolong the trade truce. that is, for many, a step in the right direction they feel. see how we go from here. in the meantime, you may wonder where he has been, we have always said he is an absolute star, but now it would seem it is official because you are looking very serious, but we are talking about your star that he received in the philippines, tell us more! laughter. well, do you do what... he

has got it. —— do you know what. laughter. well, do you do what... he has got it. —— do you know whatlj lost my connection for a few seconds there so i only heard the last part of what you said happened in manila. it is an honour and working with sally bond doc, bbc world news team, made this walk of fame star all possible. thank you. —— sally bundock. if you have no idea what we are talking about, you have got to follow him and i tweeted it, you can see his star on the walk of fame. good to have you back. cuc and. —— see you soon. now let's brief you on some other business stories. facebook suffered a bomb threat this morning at it's menlo park headquarters near san francisco. the threat prompted authorities to evacuate a building. but after a sweep of the structure there was no word of any explosives found. both facebook and police said everyone was safe. a day after urjit patel‘s surprise exit as the head

of the reserve bank of india, shaktikanta das has been appointed as the new boss of the central bank. mr patel‘s resignation triggered a selloff in the rupee on concerns that moves by narendra modi's government are threatening the banking regulator's independence. china's music streaming company tencent music has reportedly raised over $1 billion in its us initial public offering. that's according to reuters. if confirmed, the music arm of gaming and social network giant has been valued at over $21 billion, defying a bout of market volatility with flotations. now, we did tell you this was going to ta ke now, we did tell you this was going to take place. executives of big tech companies have spent parts of 2018 testifying in front of us lawmakers in washington dc. google was the latest,

talking to lawmakers about their policies regarding alleged political bias, tracking and expanding in to china. the bbc‘s north american technology reporter dave lee breaks it down. if you "idiot" under images, a picture of donald trump comes up. sunday petard's goal when coming to this, try to claim that google was not too powered all on the internet. do you believe it is biased, yes or no? no, not in our approach. ted lu had this suggestion for people who wa nt to had this suggestion for people who want to change their results. had this suggestion for people who want to change their resultsm had this suggestion for people who want to change their results. if you wa nt want to change their results. if you want positive search results, you do positive things. if you don't want negative search results, don't do negative search results, don't do negative things. as well as those

concerned about bias, many on the committee were asking google about how it uses personal darter, in particular, how google tracks allocation. does google, through the stone, know that i have moved here and moved over to the left? it is either yes or no. not by default. there may be a google service that you have opted in to use... so google knows that i am moving over there. is not a trick question! as is often the case, whenever somebody suggest it is a simple yes or no answer, it is a lot more complicated than that. there was one question on china that he could have been perhaps bit more upfront in answering. will you rule out lose -- lodging a tool for surveillance and censorship in china while you are ceo of google? congressmen, i commit to engaging one of the things that is important to us as a company, we

have stated mission of providing users with information. have stated mission of providing users with informationlj have stated mission of providing users with information. i think overall he came out pretty well from this hearing, there were no heavy punches that knocked him off his stride. but there is cross party support for more regulation as we go into 2019. that is dave lee, based in san francisco for us. that have a look at the markets one more time. the dow closing down slightly, wall street had a good session but lost their games towards the end. you can see the games in asia because of the story we have touched on with ricoh, the possibility of progress on trade talks between the us and china. that's it for the business briefing this hour. debt charities are warning some of the poorest families

in the country will be left relying on foodbanks over christmas, because of universal credit. from today all new benefit claimants across the uk will be signed up to the programme, which looks to streamline the benefits system. but it hasn't been without controversy, with many universal credit claimants complaining of sanctions being imposed on them, which has temporarily reduced their payments. 0ur reporter david rhodes has more. eireann is one of over a million people already on universal credit. with christmas coming, this single mom says she doesn't know how she will by her son at present. everyone keeps saying that your priority is to feed your son, but then he is targeting key is naughty if you doesn't have present. she says she has delayed, cat anguish because of the late payment. i used to banks what if i have no gas or it electric, i go to other people ‘s houses, send my boy to someone else's house that has electric things. since twiggy 16, the

government has been rolling out universal credit to different parts of the country. from today, the rollout is complete. anyone making a new claim for one of the six benefits will automatically go on to universal credit. the idea is to simple by the system, combining six different benefit into one monthly payment. charities it's a universal credit has pushed people into debt and poverty. in the last six months we have seen a 30% rise in the number of people saying that universal credit is the main cause of their debt. they are struggling with things like rent, council tax that they haven't been able to pay. the number of people in work at the uk is now at record high and the government says universal credit works for a vast majority and the body should go without money over christmas because events benefit payments are widely available. at four claimants like erin, she thinks of december could be a long and uncertain month. david rhodes, bbc news, north yorkshire.

this is the briefing from bbc news. the latest headlines: a gunman has opened fire near a christmas market in the french city of strasbourg. at least three people are reported dead — and several injured. the gunman is known to the authorities, who've begun a terror investigation. officials say he'd been previously identified as a national security risk. britain's prime minister has visited european leaders — in a bid to rescue her brexit deal. but at home — a leadership challenge is looking increasingly likely. now it's time to look at the stories that are making the headlines in the media across the world. we begin with the telegraph which shows a soldier guarding the streets of strasbourg after a suspected terrorist went on the run last night after killing three people and injuring 12 in the eastern french city. the guardian focuses on embattled uk

prime minister theresa may, whose grip on power appears to be slipping as speculation grows she could face a vote of no confidence from tory mps. the business times carries a warning from the international monetary fund that storm clouds are gathering over the global economy and that governments and central banks might not be well—equipped to cope. the ft says china has agreed to cut tariffs on imported us cars from a0% to 15%, the first concrete sign of a cooling in the trade war between the world's two largest economies. and finally on the bbc news website, killed and imprisoned journalists also known as "the guardians" have been named 2018's "person of the year" by time. the magazine featured four different

covers with journalists who have been targeted for their work this year. they include jamal khashoggi who was killed in the saudi embassy in turkey. with me is rebecca harding. ceo and founder of coriolis tech. they are still trying to find the man who has killed people in strasbourg, an extraordinary situation unfolding as we speak. and the first thing is