this is business live from bbc news with maryam moshiri and victoria fritz. a stream of new viewers for netflix, but will wall street stay tuned, as production costs spiral and competition mounts? netflix is spending billions on new movies and shows, but, with lots of rivals vying for eyeballs, can it keep its share price rising? also in the programme: rya nair cuts its profit forecast for the year ahead. one of europe's biggest airlines says there's too much competition in the short—haul market. more hassle for huawei, oxford university suspends donations from the convtroversial chinese telecoms giant in a week of problems around the world, we'll talk about that

and all the other big tech stories of the week with our tech correspondent rory celllan—jones. as according to henley business school, 1 in 4 of us run a side project alongside our main jobs, we want to know — what's your side hustle and why do you do it? just use #bbcbizlive hello and welcome to business live. the way the world watches its entertainment is changing. that means more of us than ever before are watching video streaming service netflix, and the company says having more subscribers than ever before means there was another big jump in how much cash it brought in. despite that, its shares fell sharply in after hours trade. netflix ended 2018 with 139 million subscribers. just under 8.9 million people signed up as paying customers in the three months to the end of december.

more than seven million of them were outside the us. the company raked in almost $4.2 billion in the period, more than 27% more than the same period the year before. but its share price has fallen because wall street was expecting even more. netflix is spending vast amounts on new programmes. its budget grew to $8 billion last year. great news for actors, writers and directors, but investors want to see that paying off in terms of revenues. expectations are high. neflix shares have had a rollercoaster ride but are up around 75% since the start of last year, making it one of the best performing of the tech giants. but there's growing competition. the likes of disney, amazon, facebook and warner media are all trying to take it on with their own original content,

as are local players in countries such as india. tom harrington is a senior analyst with the media research firm enders analysis. it is all about subscriber growth, they got 8.8 million added. interesting that 7 million of those came from outside of the us. why? that has been the trend for the last few quarters. maybe three or four quarters go international subscribers surpassed us describe is. the us market is starting to plateau. it is maturing. that is why you are seeing in the us they have ratcheted up the prices are little bit to up their revenues. how does a company like netflix redefined the competition these days because there has never been a company like it?

they are in uncharted waters. it is very difficult to gauge whether they have done particularly well because there has not been a doing what they do on this scale they are doing. whether they have eight, nine million per quarter, is that good? growth is great, but should it be ten? it is hard to say? one of the most valuable things they have is insight into viewing behaviour of their customers. we are getting little nuggets from them but it is difficult to be able to verify them independently and be able to know how valuable they are. absolutely. viewing metrics for netflix has been a mystery. there are strange little nuggets. 80 million households have what 70% of bird box, 40% have watched six education. amazon

releases a piece of programming worldwide to almost 150 million subscribers. normal television viewing standards you have to watch a whole episode for its account a viewer. apples and oranges. they also said yesterday that they have 10% of viewing on the television screen and they calculate that by saying we think there is i billion hours on the television screen and we do about 100 million so that is 10% which sounds like it is on the back of an envelope in the pub. exactly. 0ne back of an envelope in the pub. exactly. one of the things is how they are going to fuel this growth in the future and keep these reve nu es in the future and keep these revenues rising at one of the things they have been doing is looking at increasing prices but for a lot of people if you compared to the price ofa people if you compared to the price of a cable subscription netflix still looks very cheap. absolutely. the average amount people in the us

spent on cable television is about $100 and some people are spending 140. a month? yes. most people think they are getting an amazing deal so if they put it up from ten tal y fan it is not going to break the bank. there are all these competitors coming up the hill and they are going to be there in the next year will stop this day, apple, nbc, warner, these people are spending money on netflix that they are not spending on these services. thank you. let's take a look at some of the other stories making the news. zimbabwe's biggest mobile phone operator econet says its been ordered to shutdown internet access. it follows days of deadly protests over sharp increases in the cost of fuel.

the government is trying to revive the economy and says the price rises are aimed at tackling shortages and illegal trading. china has revised its final economic growth reading for 2017 down from 6.9% to 6.8%. it comes ahead of monday's release of growth figures for the last quarter of 2018. those figures are expected to confirm the world's second largest economy is slowing down. president donald trump has canceled his entire delegation's trip to the world economic forum in davos, switzerland, next week, because of the partial government shutdown. the president himself pulled out last week but treasury secretary steven mnuchin and secretary of state mike pompeo were expected to lead the us delegation in his place. ryanair, which is europe's biggest airline by passenger numbers, has lowered its profit guidance for the year ahead. it's blaming lower than expected air fares, saying that there is too much capacity in the short haul european air market. our business correspondent is theo leggett. tell us more about this profit

warning. would —— should we be worried? ryanair is not worried and they think there could be benefits from the trend we are seeing at the moment which is that there is more capacity available for winter holiday markets and therefore it has had to cut its prices. ryanair things as a result of that there might be more of a shake—up in the budget airline market. we have seen that over the past couple of years with moderate going out of business. the chief executive of ryanair things others might be vulnerable as well and rya nair could things others might be vulnerable as well and ryanair could end up boosting its market share. flybe is up boosting its market share. flybe is upfor boosting its market share. flybe is up for sale. that is going through at the moment. this is the second profit warning we have had from ryanair in recent months. in october it said the effects of strikes and high fuel prices was costing money.

it brought down its profit forecast then and has done it again. that is why we are seeing movement on the share market. there are showers have taken a bit of a battering in recent months and are down again today. there's yet more detail about the alleged financial misconduct of former nissan chairman carlos ghosn. the japanese carmaker has, together with its alliance partner mitsubishi, said he received "improper payments" of almost $9 million. he remains in a tokyo jail but has previously denied any wrongdoing. mariko 0i is in our asia business hub in singapore. phil is in on what the latest on this story is. it is important to emphasise that this latest allegation did not come from the prosecutors who arrested him but it came from the companies that he led until about two months ago when he was arrested in tokyo and later fired from. according to nissan and me too —— mitsubishi they say they

found evidence he was paid $9 billion from a joint venture based in the netherlands without consulting any senior executive that this line or mitsubishi. this adds pleasure on renault which is another alliance partner which is holding a board meeting this weekend. it has kept carlos ghosn as its chief executive officer and has defended him saying they have found no wrongdoing. but there were reports that french government which owns a sta ke that french government which owns a stake in rennell is putting pressure on them to replace him as well. thank you. signs of progress in us—china trade talks renews hopes of a resolution to the trade war. this sent stocks in asia up. the wall streetjournal reported that the trump administration was debating whether to ease tariffs on chinese imports — us government denied the claims, but that didn't kill the hope from investors. another profit warning by ryanair

also spooked investors and the low cost airline's shares dropped 4.2% and rival easyj et fell 2%. and samira has the details of what's ahead on wall street today. the federal reserve will be releasing a report on industrial production on friday. the industrial sector includes manufacturing, mining and utilities. the report is expected to show an increase of 0.2% in the month of december after a 0.6% increase in november. sensitive to interest rates the feorwitl oleoreteoseo report and it was unchanged for the month of november but analysts are expecting it to have gone up by 0.3% in december. joining us is simon derrick, chief markets strategist

at bank of new york mellon. why are your primary colours today? iam why are your primary colours today? i am feeling dull compared to everybody else. you could have warm white. i did not get the email! some of those hopes that will boost investor holds around perhaps some change when it comes to trade tariffs. we are likely to see perhaps the impact of that come through in the growth numbers from china we are seeing on monday. yes. co nsta nt china we are seeing on monday. yes. constant concern that china's growth numbers continue to slow, talk about downward revision of the numbers from 2017 and i think the numbers we are going to get out would suggest we have 6.5% growth. huge impact in china and the rest of the world in terms of demand and generally driving sentiment. that may be why

at the moment there is this continued downward pressure on market when the treats that this —— trade tariffs story is not working. it may be advantageous to get the tariff done because of that gives a boost to us markets now it comes at a time and they have been struggling a time and they have been struggling a little bit under could be useful politically to see a rise taking place. the pound, starting around $1 29. it has been an up—and—down week. the key is to look at what happened in the aftermath of the vote on the deal on tuesday. the prime minister made a statement and she hinted there may be an extension of article 50 and sterling rose almost insta ntly. 50 and sterling rose almost instantly. what it was too was the highest we have had since we had the

referendum. it is almost like this is the place that reflects we do not know what the future relationship of the eu is going to be and as long as there is no cliff edge that is going to remain the price. what happens when we changed the relationship is going to be happy, interesting. you will be coming back to take us through some of the papers later. coming up, we are going to be talking about side. . it sounds illegal. do not tell us about that! still to come: 0n the road to autonomy. 0ur tech guru rory cellan—jones will talk us through the latest in driverless cars and all the other big stories of the week. you're with business live from bbc news. today we're looking at a new generation of entrepreneurs.

the ones doing a side hustle. these are side projects alongside your mainjob, and henley business school says 37% of 25—37 year olds have them. iam out i am out then! here's one of them. my name is rhea. i'm a senior housing officer for notting hill housing genesis. i manage 150 properties across islington, essex and hackney and my side hustle is djing. i became a dj about two years ago now. it is something that i had always put off for the longest time and i finallyjust bit the bullet and thought, do you know what, i'm going to take a leap, before the day comes up i can't do it at all. it's nice to be able to go from helping people and supporting people in areas where they are not necessarily able to help themselves

and then going into djing and providing another form of happiness and joy to people as well. my family are basically ravers. the music my mum used to play in the house growing up j’ff 5.333 ff i"?"§ié—?.1"z'i;jz 1:77— and going to parties mysellanth and it's like, actually, i can play this music, i can do better than these djs. i'm going to go up there and i'm going to show everyone that i can be just as great. when i started djing i didn't actually have in mind it was taking that leap from there to saying actually if you want to book me these are my rates, this is what i charge now. i think at first when i got into it i didn't quite know what i was in for to be able to take on djing and managing it around myjob. i was djing in the evenings and then i would be up late and then it's like my gosh, i'm falling behind at work, i need to catch up on this, what do i do?

i want to become a master of djing and ifeel that once i've reached the pinnacle of that, just building myself as a brand, i would like to be able to teach other people to dj and take my mentoring further. who knew that germany love written so much? most of the senior figures have asked us to stay in the eu. your‘re watching business live. our top story: shares in the video streaming giant netflix have fallen despite it ending last year with a record 139 million subsribers.

wall street had expected the company to bring in more than the $4.2 billion it reported. a quick look at how the markets are faring. a report in the wall streetjournal suggesting that the us might be about to remove tariffs on chinese goods. they have denied that. —— things there is no smoke without fire. it's been another week full of incident for the chinese telecoms giant huawei. the university of oxford has suspended new donations from the company and its founder has once again denied it spies for the chinese government. 0ur tech corresponent rory cellan—jones is here to talk us through that and the rest of the big stories of the week. nothing has changed over the last ten years, there were suspicions about it ten years ago and nothing has been proved. what evidence is there that huawei is doing bad

stuff? the journalists looked at each other and said there is no concrete evidence, there isjust suspicion. someone who asked the question said my telecoms company is going to bend $100 million revenue with huawei and at the moment we do not see any reason not to. mounting political pressure from the us. germany is likely to shut its huawei operations. 0xford germany is likely to shut its huawei operations. oxford university says the decision has been taken in light of public concerns surrounding uk partnerships with huawei. what does that mean? they have not given any further clarification. generally the climate about china and the weird does business has darkened for lots of people around the world. mounting suspicions and no particular evidence but the theory that a company that is so based they are and has certain links to the chinese state has to be treated with

caution. autonomous vehicles, you we re caution. autonomous vehicles, you were in the us recently. caution. autonomous vehicles, you were in the us recentlylj caution. autonomous vehicles, you were in the us recently. i have just come back. i have been making a radio documentary about autonomous vehicles and visited the place to go if you want that which is arizona. the governor has put in lows encouraging their use. there is a lot of open space. it is very good conditions. perfect weather. normal us grid system of roads and it puts a commercial taxi service in operation. it was interesting. the technology was brilliant at first. 0ne technology was brilliant at first. one note of caution, you were on the freeway, the car could not leave the freeway, the car could not leave the freeway because it was too cautious. it was looking alongside and there was a stream of traffic and it decided it could not get off at that

exit. we mist two exits. that is not useful if you are late for work. exit. we mist two exits. that is not useful if you are late for workm says something about google's cautious approach. in the same area we visited the site of a crash where an bluebird car collided with a pedestrian and killed her. allegations that uber was too relaxed with its technology. this technology is making leaps and bounds but there are buts in terms of regulations. driving alongside d riverless vehicles of regulations. driving alongside driverless vehicles is going to be a challenge. the bad way, this story has been rumbling on. we are hearing that equal —— econet is seeing —— its customers are saying that they cannot access the internet. this is

an increasing tactic by governments in terms of trouble. zimbabwe has managed briefly to manage to shut off internet access, it came back and it appears to be doing it again. it is easier than a country where the government has a lot of control and there is maybe only one dominant broadband or mobile supplier and that appears to be the case had so far it has been pretty effective. thank you. and if you want more of the latest tech news you can catch rory‘s tech tent programme on bbc world service radio at 1500 gmt, and if you miss it you can download the podcast from our website, just search for bbc tech tent. it is its fifth birthday today! in a moment we'll take a look through the business pages but first here's the latest in aaron heslehurst‘s million idea series, and it'sjust right

for breakfast time. hey, it's balloons. what do we do without them at parties? well, people had as much fun as they could with these, pig bladders. the maker of the first rubber balloon was this bloke here, the great scientist michael faraday, back in 1824. yeah, he put two pieces of rubber together and then sealed the edges. he filled his balloons with hydrogen and wrote they had considerable ascending power. in the victorian age balloons became a big hit with all the kids. balloon animals in the 1930s caught on and soon afterwards balloon releases, where thousands went up in the air. nowadays the world spends $220 million a year on party balloons. but balloon releases have gone out of fashion. environmentalists say the deflated rubber is dangerous to animals,

and that has brought balloon sales down to earth with a bang. explain for the viewers who do not know what side hustle is. you work 9-5 know what side hustle is. you work 9—5 and on the side you have your own business. it has become a second job. millennial is the mights, harder conditions, they have decided they have to get second jobs of some kind, independentjobs, they have to get second jobs of some kind, independent jobs, and they have to get second jobs of some kind, independentjobs, and i think it is fantastic. it is very

definitely under 35s. talking about something like 20% of their income is being generated by that. hmrc might be interested because they talk about the fact that over 40% of that income is not being declared. it is great people have an entrepreneurial spirit. if you are going to make money on the side no better way than being an entrepreneur because you are giving back to the economy as well. entrepreneur because you are giving back to the economy as welllj entrepreneur because you are giving back to the economy as well. i am a fan of people doing stuff on the site. that's it from business live today. there will be more business news throughout the day on the bbc live webpage and on world business report. goodbye. good morning.

if you've been outside already this morning, you will know how cold it is. temperatures minus two, minus three. it got down to minus 11 degrees in aberdeenshire this morning s} lee—: , fee-72, cloud and rain moving its way in, linked into this area of low pressure, this weather front which will push its way further east. it is mostly rain across western parts but as it bumps into the cold air, it will fall as snow over the higher ground of wales, parts of the pennines, eventually at a south—western scotland as well. 2—4 centimetres possible today.

further east, remaining dry with sunshine. but quite chilly for all of us really with maximum temperatures about 3—7 celsius. 0vernight tonight, the band of rain continues to move east, breaking up and quite showery into the early part of saturday. lots more cloud around tonight compared to last night, so nowhere near as cold, except perhaps for the far north of scotland where there could be a bit of frost and temperatures staying above freezing. into the weekend, it stays cold for all. most places dry, and i say most places because there will be some showery outbreaks of rain with thick cloud across england and across parts of wales as well. further north, it will be dry with sunshine or spells breaking through the cloud but temperatures are still struggling, about 4—6 or maybe seven, the warmest place is down to the south—west, ten in plymouth. going into sunday, the next weather front will push its way into the far north and west. it will bump into a ridge of high pressure so quite a weak affair as it moves in. ahead of it on sunday, some clear skies, so there will be frost around to start off with. certainly a bright day compared to saturday.

rain across the north west will gradually move south—east, and will break up as it does so. there could be some hill snow for a time, eventually brighter skies developing across north—west scotland and northern ireland, and maximum temperatures about 5—7. how about next week? it will stay cold. still the chance of some sleet and snow later in the week. easterly winds developing. that could make it turn much colder. goodbye. you're watching bbc news at 9 with me, annita mcveigh. the headlines. the duke of edinburgh is recovering at sandringham after the car crash which left him shaken but unhurt. the local authority is considering reducing the speed limit on the road where the accident happened, as eyewitnesses say prince philip's land rover overturned during the collision. i saw a range rover on its side and a car in the hedge, six or eight ordinary cars all parked around with people helping, and just beyond that,

a normal police car with the lights going, directing traffic. patients complain of delays in getting painkillers and anti—depressants, as pharmacists warn of shortages of common medicines. efforts to break the brexit deadlock continue today, with more cross—party talks expected ahead of monday's return to the commons. one of north korea's top negotiators arrives in washington for talks