this is business live from bbc news with sally bundock and ben thompson. former nissan boss carlos ghosn says he's been wrongly accused at his first court appearance since his shock arrest on charges of financial misconduct. live from london, that's our top story on tuesday 8th january. but can the auto industry titan, carlos ghosn, who turned around the asian carmaker, manage to salvage his own reputation? also in the programme: the world's biggest smartphone maker samsung warns operating profits may plunge by a third. that'd be its first quarterly profit drop in two years, as competition from china bites. markets still unperturbed. a set of

green arrows two days in a row. we will talk you through the positive sentiment. and we'll get the inside track on leaving an olympic legacy. they cost millions of dollars to build, but with many sporting facilities abandoned at the end of the games, we'll look at how one firm is keeping the olympic flame alive in east london. and today, as britain's health service says millions of patients will be able to use skype for hospital appointments, to save billions of pounds a year, we want to know, would you swap the doctor's surgery for an online appointment with your gp? let us know — just use #bbcbizlive hello and welcome to business live. do you need the human touch when it

comes to health care? let us know. carlos ghosn says he's been wrongly accused and unfairly detained. the former nissan boss appeared in court in tokyo in handcuffs, his first appearance since his arrest in november rocked the business world. he told the judge he'd always acted with integrity and had never been accused of any wrongdoing in his career, spanning several decades. the ousted nissan boss has been held since 19th november after being arrested as he landed at japan's haneda airport in his private jet. he was later charged with financial misconduct. he's accused of underreporting his income by $41; million between 2010 and 2015. but he was later rearrested for aggravated breach of trust. that's more serious, because he's accused

of shifting his personal investment losses to nissan. mariko oi joins us now from our asia business hub in singapore. this is an interesting one because carlos ghosn led into court in handcuffs, he had a rope around his waist. what did we hear from them? he had about ten minutes to make a statement during which he defended himself vigorously as we expected. his lawyers have been holding a press c0 nfe re nce his lawyers have been holding a press conference which lasted about two hours which just ended about half an hour ago and they added some more details. on the allegations are charges that he misreported his income, known as deferred payments, something he would have received when he retired, he said that he did not know the exact amount, it was

not know the exact amount, it was not decided, and it was advised by nissan's legal team he did not have to declare. despite allegations that he and another executive acted alone he and another executive acted alone he said he consulted nissan's legal tea m he said he consulted nissan's legal team on those charges. i was interested in how he defended himself against the very serious allegations shifting his personal investment losses to nissan. he said he always wanted to be paid in the us dollar since hejoined two decades ago but because he could only be paid and the japanese yen he entered what is known as foreign—exchange contracts and he says there were two contracts signed just before the financial crisis but when nissan shares collapsed and the yen strengthened during the crisis the bank at to increase his collateral which he could not satisfy on his own and that is why he said he asked nissan to take on the collateral temporarily. he emphasised they would then transfer

back to him without nissan in carrying any losses. his lawyers added there was a written agreement between the bank of nissan and carlos ghosn that any losses would be borne by carlos ghosn. another serious allegation of making a $15 payment to a saudi businessman using nissan funds. he said it was legitimate business payments that the recipient made a statement as well. vigorously defending himself in his first public appearance. no camera was allowed inside the courtroom. that is why we were seeing him looking a bit thinner in those drawings in the courtroom. seeing him looking a bit thinner in those drawings in the courtroomm is hard to overstate what a contribution carlos ghosn made to the firm because they have the alliance with renault in france and he was known as lacoste killer. it

is interesting to see this fall from grace. regardless of what happens the fact he is in court in handcuffs. in deed. he was a legendary businessman. many of other interviewed him any times when he was the head of nissan. he really saved nissan two decades ago when he came tojapan saved nissan two decades ago when he came to japan for the first time. nissan makes more money now and sells more cars but back then carlos ghosn really saved the company and thatis ghosn really saved the company and that is why this fall from grace generated a lot of public interest, over 1000 people applied for 1h spots in the cloak, courtroom. let's take a look at some of the other stories making the news. samsung electronics says it expects a near 30% plunge in operating profit, its first quarterly profit drop in two years. the south korean tech giant is blaming mounting competition from chinese smartphone makers and declining chip prices. it comes days after apple's

shock sales warning, citing poor iphone sales in china. president trump is likely to have decisive influence over the next president of the world bank, following the abrupt resignation ofjim yong kim. he's stepping down three years before the end of his term, to join the private sector. the world bank's president has traditionally been chosen by the us. us commerce secretary wilbur ross says there's a very good chance that washington and beijing will reach a trade deal that both countries can live with. his comments, in a tv interview, follow the first day of trade talks at vice—ministerial level in beijing. pictures have emerged online of china's vice—premier liu he being applauded by us officials as he made a surprise appearance at the talks. america's leading stock exchanges could face new competition. a group of nine financial companies — including morgan stanley and bank of america merrill lynch — has announced plans to launch

its own trading market, bypassing the new york stock exchange and the nasdaq. the goal is to reduce costs and simplify trading. it isa it is a really busy when today. we have mentioned some of the stories. our page keeps have mentioned some of the stories. 0ur page keeps you across have mentioned some of the stories. our page keeps you across of other business stories. the main market in south korea was flat because some sun and electronics is a big part of that. that profit warning we have mentioned. markets in general in the age of following the lead from wall street the night before, will positive, investors waiting and seeing with optimism there will be progress in the trade talks happening in china. lots of retail news out in the uk. i did not know

this, morrison's wholesale division supplies am is on land that was up 396. supplies am is on land that was up 3%. albee and little, —— aldi lidl, two thirds of households going to them for the household shop. and michelle fleury has the details of what's ahead on wall street today. market watchers will be focused on the outcome of two days of trade talks in beijing between the us and china. detailed figures showing how the us and china trade war is affecting imports and exports are among economic releases to be delayed this week as the partial shutdown of the us government drags on. the commerce department's release of the international trade report

for november is postponed and a notice on their website says that the agency will not be publishing any data during the shutdown. but don't worry if you're at a loss with what to do, you can turn your attention to las vegas, where the consumer electronics show kicks off. joining us now is simon french, who's the chief economist at panmure gordon. america's leading stock exchange facing potentially new competition, nine firms trying to create an alternative stock exchange which they say will cut costs 12 are on by companies that have responsibility to generate profits to their shareholders and that will be pushing up prices and there is an attempt to push down prices. once the financial crisis a lot of the banks that you mentioned, a lot of the activity that previously was very profitable, regulators have stopped them conducting and they are

looking for new sets of business activity where they can generate margins more consistent with what they could enjoy a decade ago. news from samsung. it has to be taken in the context of the slowdown in the global economy but also the information out of apple last week around the increased time with which people are holding onto their devices. the demand for chips being reduced. a victim of their own success partly. the hardware they are producing lasting longer and there are new businesses being impaired. that is a warning from samsung that their profits will come in 30% lower in the next quarter or in the last quarter. as far as the start of the year is concerned we have seen things to contend with. on the global marketplace at the back end of last week we had decent data

out of the us economy during the jobs market which provided impetus to the start of this week which made people looking at the leading indicators of the us economy seeing things are not as bad as the data we have seen so that has meant investors have experienced a very turbulent quarter and have been more bullish on 2019. nice to see you. you are going to come back later with more from ces. still to come lasting legacies or a white elephant — we speak to a firm hoping to keep the flame alight with a high—tech business hub at london's former olympic park. you're with business live from bbc news. as the political debate around brexit continues, british businesses are preparing for the uk to leave the eu, in exactly 80 days. one of the key economic sectors that

would be affected is food and drink. nina warhurst has travelled to manchester's new smithfield wholesale market this morning and sent us this report. this is smithfield market, one of the north of england's biggest food trading markets. have a look here. we have pavarottis potatoes imported from italy, pearls potatoes from lincolnshire and of course in a few short weeks we get to find out whether the prices, the import costs, of these potatoes from italy are set to change. what are businesses across food retail doing to prepare? in your opinion how is preparation going? i think for big companies preparations are really fairly very far advanced. i've got a lot of members who are really a very very long way down the preparation route.

but they are devoting a lot of resource to it so one of my businesses typically is devoting 10% of its sales to brexit preparation. that is a big number and some of that money will be wasted because they will not be able to recover all of those costs because they are funding for every eventuality. so the bigger concern is for the smaller companies that may not be able to withstand that pressure? yeah, i mean, it's not that they're being irresponsible, it's just that they don't have the resources to devote people or time or money to the planning. and the planning is extremely time—consuming. yeah, things like stockpiling, of course, isn't an option for some companies that just don't have those margins. and you cannot overestimate the importance of food retail for this country. 4 million people employed in the food supply chain and around a third of workers within the food industry come from the european union. she was nearly run over by that forklift! our page is talking about

shoppers spending £295 forklift! our page is talking about shoppers spending £29.3 billion at supermarkets over the 12 weeks in the lead up to christmas so some welcome relief. we will hear from sainsbury‘s, tesco, m&s and debenhams later this week. full details on our page. your're watching business live — our top story — former nissan boss carlos ghosn says he's been wrongly accused. at his first court appearance since his shock arrest on charges of financial misconduct. a quick look at how the markets are faring. a bit of positivity today ahead of what in the uk is going to be a busy week as far as results of that

crystal, crucial christmas period are concerned. staging the olympic games can raise the profile of the host city through the roof, but what happens when the event comes to a close? the 2016 olympic games were held in rio dejaneiro, and many of the facilities have been left to rot since, with looters taking advantage of unused buildings. but rio isn't alone, athens suffered a similar fate after spending millions on hosting the 2004 olympics. but many of the sites used for the london 2012 olympics already have a new lease of life. one of which is hereeast, a firm set up in the former media centre for the games. it's been turned into a hub for tech, science and design. gavin poole is the chief executive of hereeast and he joins us now. we are all very familiar with those stories about cities, countries, that have hosted the olympics and what the legacy is afterwards, often

it is not the right story. tell us what you're trying to do. taking historically very different buildings for olympic cities that have amazing space. taking those buildings and turning them into a brand—new technology campus for london and the nation and looking at the type of businesses already in east london and across the capital and rebalancing away from financial services into technology. that is what we have delivered. how does this process "two—mac at what point in the design and planning? is it after the olympics or do you have to come up with the way of using?m has changed now so the buildings we inherited and we won under government bed were built for the games that we have spent over 1

million dollar £100 million refurbishing. the lesson learned is to design them with future use in place. the london 2012 olympics was designed very much with what they call a convergence programme for 20 plus years after the games and if you come to the park we have images for what was before done what it is now. that is an important part of the olympic bid. those who make decisions supposedly have to keep that in mind. when it comes to the 100 million you have invested into turning this into a technology hub to what extent will you see that making a profit? it is notjust use for good orfor enabling making a profit? it is notjust use for good or for enabling those within london or whenever to become more proactive in technology, it has to become a business as well. exact. we area to become a business as well. exact. we are a beer for profit but we also

have an ambition to support the growth of technology in the capital. we are over 70% full. over1 billion square—foot. still space delight. we are already profitable. the value creation you see within a business like this comes over a long period of time and we have amazing owners who are very happy to take a long—term view to look at how we create value in the long term. that is important because people come to stay with us, technology companies, creative industry companies, the confidence to know we are going to deliver our vision, we are not going to rip it up. to what extent has this been affected by brexit, people's interest in being in london? after the vote there was a pause but we have done most of our letting since the brexit full to. we still have international companies coming from europe and china to look

at us and take spaces with us. our innovation centre has 122 companies some of which are international and we have people taking positions. while initially there was a pause we see still a lot of growth. also within the technology sector within london a lot of founder led companies who are not moving out of london, and that gives us the confidence that this will be growing with universities and academia alongside it, it is going to get bigger. there is an eclectic mix of businesses that hereeast. someone growing vegetables, tech firms, ford the car—maker, the victoria and albert museum. how do you bring those companies together and what of the benefit of having such to the untrained eye a random mix of businesses? it is carefully curated.

we say no to people as well. the mantra that we had was about large global companies looking to reconnect with creativity and small creative start—ups trying to grow and learn from each other. victoria and learn from each other. victoria and albert is a prime example. it is not a storage facility. it will store the national collection but the use of technology to open it up, it will become one of the worlds leading centres for research design. the businesses are designed light. it sits very nicely. ford, the largest automotive manufacturer in the world, working with a company who are five years old which looks at data visualisation techniques and closed content and they are working together. they would never have worked together if they had not been there. our role is to make sure that

we forge these connections together and so further success is of collaboration on site. it is nice to see you. good luck. quite a challenge. a good thing to do. now to las vegas, where our technology team have been getting a glimpse of some of the gadgets on display at the world's biggest tech show. our north america technology reporter dave lee has been taking a car journey with a difference. take a look. how does that feel? that feels good. enjoy the ride. the special thing about this is that the vr experience moves at the same time as the car moves, so when i pull away i really feel it because the car is moving. so we took several data points from the car, like acceleration, speed, steering, braking, location, and matched it to virtual worlds. i am shooting in the game, i am looking around,

obviously the movement is determined by where the car is moving. so i don't feel in control of where i am going but it does make it feel very physical. so although people get motion sickness and a lot of people get sickness from vr, you are saying combining those two things you can get rid of it? but only if you manage to do it with almost no latency and that is why you need a very direct connection to the vehicle and its data. they said it would not make me nauseous. that was a lie. that was interesting. it was fun. very immersive. definitely one of the more immersive vr things i have done but i couldn't do that for a long time. that was a lot. let's get some fresh air. anyone who suffers with travel

sickness, that is not for you. amazon laughing all the way to the bank, the biggest company on market cap now. there is a three-way battle at the top. they have taken the crown from microsoft. earlier in the year it was apple. some of the things that concerns investors are these high valuations of these companies and what you are potentially seeing if you roll forward into the rest of the year and 2020, some of the things that have generated growth in these businesses, the ability to access all the markets around the world, may be impaired. in the case of amazon, they have just had christmas, all of us worldwide, if you are not using amazon, they are

still growing. the growth is intact. there will be regulatory challenges because success attracts attention. particularly in the us china axis of amazon honour looking to grow into markets like india and china, will they find regional champions will be nipping at their heels as countries try to generate national champions to counter? thank you. thank you for your comments this morning about whether you would want to see a doctor over skype which is a proposal from the uk doctor over skype which is a proposalfrom the uk health doctor over skype which is a proposal from the uk health service. that's it from business live today. yesterday was stormy, to date is

going to be much quieter. the cloud will thin and it will break up. that is yesterday's storm moving out into denmark. we have fairly strong winds down the eastern side of the uk but for many of us the north—westerly wind will break up the cloud so there will be brighter sunny spells developing through the course of today. a bit more cloud across eastern areas and more cloud moving into northern ireland. wind is not as strong as yesterday. across eastern areas there will be some fairly strong gusts of wind. these arrows indicative of the gusts. 40-45 arrows indicative of the gusts. 40—115 mph and that could lead to some coastal overtopping around

norfolk and suffolk with gusts of 50 mph. maximum temperature is 7—9dc, chillier than yesterday, especially in the north—westerly wind. this evening cloud moving into northern ireland. some cloud affecting eastern areas of england. where you have the cloud temperatures will stay above freezing but in the central swathe of the uk we will see some frost so temperatures down to minus one no minus two. wednesday should start bright with plenty of sunshine. a bit more cloud across eastern areas with the northerly wind and cloud across northern ireland and into scotland with a few spots of rain in the western isles. hla day. thursday, high pressure is established. this warm front will move through introducing slightly less called air. the air originates from the south and pushes across the

uk bringing more cloud on thursday. there will still be some bright sunny spells out the day. plenty of dry weather but those temperatures coming up dry weather but those temperatures coming up across dry weather but those temperatures coming up across the north—west. through the end of the week into the weekend those temperatures across the south will rise. still lots of cloud as we go through the weekend with just a few bright or sunny spells from to time. you're watching bbc news at 9 with me, annita mcveigh. the headlines... mps who oppose leaving the eu without a deal will today try to limit the government's financial powers to prepare for no—deal. calls for police to do more to stop abusive protesters outside parliament after a conservative mp was confronted yesterday. crowd: soubry is a nazi! soubry is a nazi! well, apologies to you if you're offended by that.

ijust think this is astonishing. a call for three million new homes over the next 20 years, to solve the social housing crisis in england. some child victims of sexual assault are being failed by privately—run forensics centres — that's according to a bbc investigation. three—quarters of penguins that end up stranded on south america's coast every year are female — now scientists think they know why.