this is business live from bbc news with ben thompson and maryam moshiri. china — the world's second largest economy — announces it slowest growth since 1990. it's sparked concerns of a wider global slowdown. live from london, that's our top story on monday the 21st of january. it's been the global economy's super power for the past decade, but falling demand at home and trade tensions with the us are beginning to bite. also in the programme former nissan boss carlos ghosn makes a new request for bail — but will his imminent dismissal from renault lead to a full blown merger between the two carmakers? and a new week, and this is how markets in europe are looking. this

in europe are looking. could be a crucial day in brexit this could be a crucial day in brexit negotiations. does it have the unbreakable formula? we'll get the inside track on the glass specialist that's been around for 260 years, to find out how it's toasting its success. and if you bought a travel book from amazon, would you want ads for a new holiday? amazon is using our past purchases to sell us even more, even if they're from other retailers. so we want to know, are you more likely to buy if the ads for the things we want? let us know — just use the hashtag bbcbizlive hello and welcome to business live. a lot to get through. first... china's economy is growing at it's slowest rate in almost three decades. in the last few hours the government said the world's second biggest economy grew by 6.6% last year. it comes amid a broder global slowdown and a trade war with the united states whose effects are starting to be felt. economic growth of 6.6%

for the whole of 2018 was broadly in line with analysts expectations and is the slowest rate of expansion since 1990. but it fits in neatly with the government's target of growth of "around 6.5%". over the last decade china's growth has slowed as the government tries to more carefully manage the economy. in fact on friday the 2017 growth figure was revised down from 6.9% to 6.8%. a gradual slowdown. the government in beijing is wary of too sharp a slowdown and announced a string of measures to try and boost the economy last week. they include tax cuts, infrastructure spending and an $8abn cash injection to try and maintain consumer spending levels. one of the big reasons consumers are reluctant to spend is their growing amount of debt —— something that's been rising steadily over the last few years.

so too has the debt held by companies and china's collective debt is now almost equal to three times the size of the economy. joining us now from shanghai is robin brant. rob and, clearly a lot for all of us to keep a close eye on but it's the mark of a slowing economy, not one that has stalled. no, there is a lot as you've just covered to talk about. what we are seeing here is further proof that china's economy is in and expect that slowdown, the trend of growth continues to slow, the big question is how will the government alleged that slowdown? what it wants is essentially a soft landing. as you say, when we discuss these figures there is the caveat and you have alluded to that, about how they always seem to be very close to government forecasts is not hang on and there is much suspicion

growth in china's economy could be far, far less what nevertheless the trend is clear and that is one of a slowdown. reticular concerned about consumer demand, figures confirming some weeks ago the demand for new vehicles in china, the biggest car market in the world, fell by 6% in 2018, the first full in 20 years. remind ourselves of the warning for —— from the man in charge of apple, tim cook, seen demand for products in 2018 had fallen so significantly it will have an instant impact on reve nu es it will have an instant impact on revenues for that company. the key question as i said is the extent to which this is a managed slowdown and the government can manage to not so much orchestrate but manage a gradual slowdown because stability especially comes to unemployment here under threat of rising unemployment, is the big focus for the government. we know the government very willing to step in to try to manage the slowdown as we

touched on that, we talk about the cash injection and spending on infrastructure but there are a lot of things outside the control of the chinese authorities, not least the trade war with the united states. yes. there are two micro things, evenif yes. there are two micro things, even if you doubt the figures, there is clear evidence from the president the government knows there is a serious problem they must deal with. we have evidence of a stimulus of sorts, before christmas a meeting of the communist party leadership, a change to the technical aspects of how much money banks have to keep, more liquidity into the system, tax cuts coming as well, new initiatives to encourage provincial government, a key leader of the economy, to spend more money on infrastructure projects. the problem is china does not have as much wiggle room as a ten yea rs not have as much wiggle room as a ten years ago, other factory, you referred to, is the trade war, we are referred to, is the trade war, we a re halfway referred to, is the trade war, we are halfway through this 90 day period between the us and china to

try and agree a further deal to see off an escalation in tariffs, that has led to a negative sentiment, a fear about the future and that is having an instant impact, it would seem, particularly on consumer demand. robin, thank you. good to see you. robin brant in shanghai. let's take a look at some of the other stories making the news facebook says it will work with the german government to help tackle fake news in the run up to elections for the european parliament later this year. the company has been under worldwide pressure over fake content and the privacy of users' data. the troubled uk coffee shop and cake chain patisserie valerie is facing a crucial couple few days if it is to survive. the company is hoping to extend a deal with its bank that expired on friday and has allowed it to continue trading. it's been struggling since october when it uncovered "significa nt, and potentially fraudulent, accounting irregularities". the serious fraud office is investigating. another struggling uk retailer — hmv — could be saved from administration

by mike ashley. the entertainment chain is struggling because of business rates and consumers move to digital music and films. it is unclear how much of the company the owner of newcastle united and several other uk retail chains wants to buy 01’ when any announcement on its future might be made. the chair of glaxosmithkline — philip hampton is stepping down after three and a half years with the uk's biggest drugmaker. it comes after the firm's new chief executive — emma walmsley — announced plans to split the company into two businesses — one for prescription drugs and vaccines — the other for over the counter products. a bail hearing set to take place in tokyo today will decide whether ousted nissan chairman carlos ghosn will be released as he awaits his trial over alleged financial misconduct. ghosn has been detained injapan for two months and has offered to wear an electronic bracelet and to pay for guards to make sure he remains in tokyo for his trial. let's now cross rupert wingfield—hayes, who's in tokyo...

bring us up—to—date with what we can expect from the bail hearing and what we can expect perl is going to put forward. he and his lawyer have put forward. he and his lawyer have put ina put forward. he and his lawyer have put in a fresh application and statement in which he made this offer. essentially he was denied bail at the first application because the judge concluded he was a flight because the judge concluded he was a flight risk. because he has houses all over the world, a very wealthy man. in this application he's said he is willing to stay in tokyo, to re nt he is willing to stay in tokyo, to rent a flat and to have security guards outside his apartment watching him during that time he is waiting for his trial to begin. he's said he will wear an electronic tag, that he will post a larger amount of bail, really what's going on here is he and his lawyer are dry to bend over backwards in their plea to the

tokyo district court to persuade them he is not a flight risk and therefore they can let him out of detention in the weeks or months leading up to this trial. and as all this plays out in terms of the legal framework, nissan and renault are, you know, talking the moment, there are rumours, aren't there, there could be a merger between the companies. what do you know about that? what we know is something has to change in the structure of these two micro companies and their alliance because it is very odd. renault on is 42% of nissan's voting shares and yet it is called a partnership. the capital structure is one of ownership that it is described as a partnership of the partnership was, if you like, put together and run for pretty much 20 years i carlos dawn. he's sitting in a detention cell, there is a lot of fallout, there is a lot of distrust

between the companies because the french side is furry unhappy about the way nissan has handled this, nissan wants a readjustment of the relationship because they feel it been unfairly treated by renault as the dominant partner. something has to change but the question is how. what we think is that france and the french government and renault would like to see a full merger essentially under french control, nissan would like to see a rebalancing nissan would like to see a re balancing where both nissan would like to see a rebalancing where both companies are equal in the partnership. rupert in tokyo, thank you. let me show you what's happening with the numbers. china coping with expectations that the government will pump in more money to the economy. shanghai

markets up. in europe, all eyes on theresa may as she tries to convince tory brexiteers and the democratic unionist party, those mps to back her stroll deal by trying to resolve some of the concerns of the irish backstop. remember the backstop is a kind of safety net — a way of avoiding a hard border in ireland if a deal with the eu has not been agreed in time. joining us now is jeremy thomson—cook, who's the chief economist at world first. currency is the name of the game for you, the pound, such a key barometer of how the markets feel about brexit, how are they this morning? this morning so far, sterling is falling, it rose last week on the back of the belief that theresa may sought the house of commons rejection of freddie would move

towards a softer brexit or certainly continue talks about a lack of a new deal brexit come march the 29th but the belief that anything that comes out of the government and downing street today will just be a out of the government and downing street today willjust be a rehash of plaque eight, plan b looks a lot like plan eight but was funny glasses and a fake moustache. the markets will be very tired and sad that it's going to be more of the same. more of the same, when we saw all the chaos of last week, the markets said look, we've factored this on, we did not expect any big great announcement, more of the same idea, something at some point has to change, when will it come?” idea, something at some point has to change, when will it come? i think we've got 67 days until rake said, i think it will change in 66 days! who's counting? all of us, every day. i've always used the analogy like basketball match. back and forth, one team scores. it's not

fair, you and ben are really tall, i am five feet five stop its 0k, we would be on the same team, but it will all be very frantic, the buzzer goes, i think we will get down to buzzer territory, the last 36 hours. then we will finally have a deal or an extension. it will come down to the wire. a quick word on china, what do the markets make of that gradual slowdown, the idea of a managed slowdown. this is the slow glide path, soft landing as some people put it, if it's this way, stimulus comment hopefully a deal on trade comes, those are the things we see, if we see an upset on either of those, equity markets and currency will become more volatile. jeremy, stay with us, we want to go through some stories with you. still to come ...we'll be speaking to the 260 year old firm which specialises in glass....to find out how it's remained top of the class. you're with business live from bbc news. uk house prices are rising

at their slowest pace in years, according to property website rightmove. potential buyers and sellers in london have the most to be worried about, with prices currently at their lowest levels since 2015. rightmove director miles shipsidejoins us now. good morning. people looking online but they are not actually converting that into going to view and ultimately to buy. the first couple of weeks of any new year are exciting looking at the data, we've seen exciting looking at the data, we've seen traffic moving a 5% on the first two weeks compared to a year ago. it's really about priming the pump at this time of year, people looking at the fresh start coming into the market and going to view and then hopefully buy. certainly there might be a degree of hesitancy amongst some buyers with the uncertain political background but

the early indicators show broadly the early indicators show broadly the same amount of people coming to market as a year ago, down just a couple of percent at people looking embarrassed numbers, or in the visits a day. —— for and a half million visits a day. looking at slightly cheaper prices than the la st slightly cheaper prices than the last few years, hopefully that might tempt them. is there a difference in terms of different areas in the uk versus london. absolutely, north of the country hasn't seen prices go up nearly as much, affordability stretched less but in london property prices have gone up greater than average wages. london slowdown is not to be expected, it's affecting the commuter belt as well but that means there is value out there. let's not forget the fundamentals as well around very cheap mortgage rates, some fixed rates for five years at 2% or less. for some people, that's cheaper to

buy than rent. 0k, miles, thank you. we've touched on it already in the programme, a potential lifeline for hmv from mike ashley, he's in talks to buy the music chain, you will know it issued a pretty dreadful christmas update, hmv collapsed last month, second administration in six yea rs. month, second administration in six years. this 2200 jobs at risk, 125 stories. are a number of potential bidders in the frame but mike ashley's name in there is one potential saviour for the business. details online. your're watching business live — our top story —china — the world's second largest economy — announces it slowest growth since 1990 — sparking concerns about the health of wider global economy. a quick look at how

the markets are faring that's occurring stayed up late. the currency markets likely to feel any fallout of the brexit negotiations as they continue. the prime minister expected to meet mps to try to come up expected to meet mps to try to come up with an alternative to her plan that was rejected in the commons last week. now, if you're taking part in dryjanuary, giving up alcohol for the month, then look away now. if you're not then a glass of wine might be one of the ways you're getting through what's traditionally a tough month... well, the global wine market has surged over the past few years — and annual sales now top $342—billion. 0ne company making the most of the growing market is luxury wine glass maker riedel. the austrian family firm has been around for more than 260 years. it produces 31—million pieces of glassware every year, including wine glasses and decanters and exports to 125 countries around the world. maximilian riedel, chief executive and president

of riedel is with us now. so lovely to have you here, this is a thing of beauty. tell us about it. it is called the mambo, wine is an important part of the celebration, bringing wine and family and friends together. wind needs to be rated, it opens up, it breathes, it is ready to be consumed. you see, i am looking at that and wondering how you clean it. 260 ruled business, you clean it. 260 ruled business, you were involved from the age of eight team. we were talking earlier about how you come up with new ideas, with ways to get people to keep dying and i properly naively set how can you come up with a new thing, is there such a new thing as a wineglass, but there is, apparently. our wine glasses are

instruments for anyone who enjoys a glass of wine every day. so we hope. the glasses are fine tuned towards the dna of a great friday. whenever you fall in love with a new grape such as reasoning, chardonnay and others, you look for one of our glasses because you get so much more out of it. those the shape of a wineglass change the flavour of the wine? it influences the perception, we cannot be responsible for miracles, we cannot turn wine into good wine but when you drink it from a proper shaped glass you will get more from the wine experience because our glasses are developed with the winemakers themselves and when you put your nose into one of our glasses, you will be amazed at what fine you can detect. it's a shame these are empty. very much so. you declared war on the champagne flute, everyone will associate a tall, slim glass with a glass of champagne but that's not the way to drink it. i would not call it a war,

i would call it more of a crusade of my own. 0ne i would call it more of a crusade of my own. one of the very first jobs i had was for a champagne house and i realise the professionals be hind the scenes were actually tasting champagne from a wineglass versus a flute and the flute to us is more of a marketing, we are in the business of wineglass have a portfolio of fluids but pouring it into a more of a fight wine shaped glass you get more aromatics from the wine itself and this is what we are looking for. i want to talk to you by china, it's very much in the news today, the growth slowing. you obviously do business with china, export there, how worried are you about the slowdown in consumers spending and consumption? we then watching this for some time, over the last 5—10 years there have been ups and downs, the last two years were very successful for us, china is not only consuming wine, they are producing wine, i took mohammed people are aware of that, making pretty good

wine as well. —— i don't know how any people. i did not know that. i cannot confirm that for us it has been slowing down. let's talk about your history with the firm, you join today team you're the 11th generation as boss. was there ever an alternative for you, will you a lwa ys an alternative for you, will you always going to be in this business given that everyone before you had done it? i think it was quite challenging for my parents to make it exciting, who wants to sell a glass. he wanted to be a formula one driver, didn't you? correct. what happened to that dream? it is still out there. i think it was the right decision for me to go into the business, the family business, it always comes with weight on your shoulders as a family business, but my parents prepared me for the task, being now over 40, bringing my parents prepared me for the task, being now over40, bringing up my parents prepared me for the task, being now over 40, bringing up i own kids, i know how difficult it is to excite them, especially to join the

firm but i will try to do my best, i don't want to be called the last. maximilian kieffer so lovely to have you on and thank you so much for bringing all of the items with you. you may have heard of davos. it's the annual get—together for thousands of business and political leaders — in a swiss ski resort. but what exactly is davos — and who can go? joe miller has been finding out. ben andi ben and i clearly can't. sally possibly could. it's that time of year when you start hearing a lot of this word. davos. davos. davos. but what is it? a swiss mountain resort but every year thousands of world leaders, business executives and heads of charities descend on the town for something called the world economic forum. there is plenty of panels and talks but the real reason most people attend is to network. many a corporate deal has been

hashed out in front of a chalet fireplace and there's even been the occasional breakthrough in international relations. last year, the greek and macedonian prime minister is met at babos and months later they solved a decades—old dispute. can you go to davos? not u nless dispute. can you go to davos? not unless you are invited and have quite a bit of spare cash. businesses get charged up to 27,000 swiss francs per person, that's about £21,000 to attend. in light of what to husband talking about, there is a story in one of the papers. the world's 26 richest people own as much as the purest 50%. that is, i'm sure, one thing they will be addressing in davos. according to 0xfam 2200 billionaires exist around the globe, their wealth

increased by $900 billion alone in 2018, i wonder how many of those 2200 billionaires will be at babos and whether they will be talking about inequality and it is the world economic forum, a talking shop for the great and good and powerful. not all the great and good and powerful. we are still here. i'm waiting for the invite. davos is interesting, they tend to have these big themes and there's all these great ideas about how they solved the world's problems, nothing really changes. nothing really happens, some people say it's a good exercise in humility, people go there and talk about exactly how bad days and there was an interview with the world president in davos over the weekend. 0ne president in davos over the weekend. one person saying why can't these people take the boss, my street is held up of limousines. everyone flies in on privatejets. there is a need for a green deal. a certain

amount of hypocrisy that as far as this sister because it's more about the lack of iniquity as well as equality. let's move on to the story about amazon, we know we get targeted by ads on various social media sites but this is interesting, idid not media sites but this is interesting, i did not realise, amazon has recently started using what you've bought to build an advertising system built for you. built for you but from other retailers as well. amazon for example as you said, if you buy a guidebook to japan, let's say, you will get holiday adverts as well. interesting how it works. thanks somewhat of a coming in. lovely to see you. thanks for your company, will be back tomorrow. sally is in davos but we'll see you same time same place tomorrow. goodbye. hello, good morning, if you were up

early enough and you had clear skies you would have been lucky enough to see the super blood wolfman, thanks to all of the weather watchers who sent us in a photo. it looked stunning this morning. for many of us stunning this morning. for many of us it was too cloudy and we've had the cloud moving in ahead of this cold front which will bring outbreaks of rain to the northern and western areas. the best of the sunshine is where you had the best of the clear skies. in the south—east of england some sunny spells, elsewhere, the order bride still developing, thicker cloud towards western scotland and northern ireland as the rain person, some snow, mainly over the higher ground of western scotland but increasingly at low levels. feeling chilly, maximum temperature 4—7d. the band of rain and hill snow continuing to spread down towards the south—east of england, clear

skies behind it, some frost developing. temperatures at or below freezing, you notice the green in the south—east of england, more cloud and rain inventing a frost, 2-4d. we cloud and rain inventing a frost, 2—4d. we start to stay with some frost, starting in the south—east with that area of rain continuing to push away and for all of us, a north—westerly wind coming from the north, bringing some showers which would turn wintry. again mostly over the higher ground. time to some politically low levels, some hills, some snow falling. showers in the south—east of england but some sunny cells between the showers, feeling pretty chilly, maximum temperature 4-7d. pretty chilly, maximum temperature 4—7d. keeping those sorts of values for the rest of the week, feeling cold, continuing wintry showers and sunshine, sharp frosts by night, but perhaps less cold by the time we get to friday. during wednesday, again

with a north—westerly wind, lots of sunshine around but again, some showers coming in and they could well turn wintry with sleet and snow particularly over high ground. maximum temperature is again 3—7d. for thursday, similar sort of theme, for many of us try with the odd shower, friday, temperatures starting to creep up a little, 8-10d. starting to creep up a little, 8—10d. for many of us, for much of this week, going to remain cold. goodbye. you're watching bbc news at 9:00am with me carrie gracie — the headlines. six days after her plan was rejected by mps the prime minister will set out her next steps on brexit. but can she break the deadlock? millions of eu citizens living in the uk can apply for settled status from today — it allows them to continue living and working here after brexit. china reports its slowest growth rate for nearly three decades. we'll look at what this means for the rest of the world. police continue to question four men following a car

bombing in londonderry. they believe the attack was carried out by a dissident republican group. a highly unstable, crude device, that could have detonated at any time. a callous act, a deliberate act, against the people of derry.