your‘re watching business live. our top story — amazon's deal in the big apple has turned sour after plans for its vast new york headquarters have been axed. we start in the us, where internet giant amazon has abandoned plans to build a vast second headquarters in new york city because of opposition from local politicians and labour unions. and the boss of royal bank of scotland has warned the uk economy faces "a heightened level of uncertainty related to ongoing brexit negotiations". and we'll be getting the inside track with our business editor simonjack. and brexit — it's just 42 days away.

its been a week of warnings from the likes of ford and rbs over the uncertainty related the uk's departure from the eu we'll get more with our business editor simonjack. and there's some new research that suggests that the brain function of very late risers and "morning larks" during a working day is often very different. i know which one i am! which one are you and does it ever affect your day? let us know — just use the hashtag bbcbizlive. hello and welcome to business live. we start in the us, where internet giant amazon has abandoned plans to build a vast second headquarters in new york city because of opposition from local politicians and labour unions. the company had said its proposal would create 25,000 jobs at long island city in the borough of queens. but there was concern

about its impact on the local community and criticism of huge financial incentives promised by city authorities to amazon, one of the world's most valuable companies — run by the world's richest man. michelle fleury reports from new york. i'm standing about a block away from what would have been one of amazon's major new offices, right here in queens, new york. now, right from the beginning, the project was the subject of a great deal of controversy, in part because of the gentrification it would cause in this neighbourhood, but also a lot of anger over the fact that the company was receiving huge tax breaks, some $3 billion in subsidies, to come here. one of the richest tech companies in the world, and from the beginning, local politicians and grassroot activists met here. now that the company has pulled out, this is where they came to celebrate. crowd chanting: we win, we win! it is a victory for people who want to envision a different world,

that's not driven by profits for billionaires, but actually is about uplifting working people, the poor. and that's part of what we are fighting for. $3 billion plus. shame on you, shame. but not everyone‘s happy. i'm a business owner in this area. i employ a lot of people in queens and from queens, and as someone that actually is responsible for their livelihood and for theirjob, this was transformative for new york, and the fact that it's not going to happen any more is extremely sad. this was a win for community organisers. what's not clear is what it means for the city in the future. will major companies still want to come to the big apple? joining us now to discuss this is our business editor simonjack. new york city, known for big business and amazon blames the unions and state officials? it is

interesting, if you like the history of american capitalism, little town, the railroad comes, you build a town around it, everyone gets more wealthy and moves on. that is, if you like, the american model. but if you like, the american model. but if you go to seattle, which used to be a sleepy, north—west pacific town where amazon's headquarters. lots of residents feel they have been squashed by the amazon, rents have gone through the roof, change the nature of the town. not always for the best. you see those emerging feelings here. $3 billion to this company when they say we have crumbling subways and what have you. quite an interesting grassroots campaign repelling one of the most successful companies in the world which is quite un—american. successful companies in the world which is quite un-american. queens isn't manhattan, but isn't that part

of the problem, new york city has seen businesses come along, and residents are conscious of that?” think there will be a lot of estate agents, we call them, in queens who will be crying into their coffee. 25,000 high—paid jobs, it will be crying into their coffee. 25,000 high—paidjobs, it would have put up property values. an interesting turn of events. unusual that a grassroots campaign from the state senate, local unions and of course amazon has always fought tooth and nail not to recognise unions. when you have politicians saying unions are important and we wa nt to saying unions are important and we want to be progressive, but at the same time giving subsidies to a company which is aggressively thought not to recognise unions, you cannot do both. is it a watershed moment here, a tech giant like amazon is one of the darlings of the american economy, the tide is starting to turn people are saying this is where the money is? the us

has been more comfortable than the rest of the world about the power of some of tech giants. the eu have had a crack at google and amazon, issue about how much tax they pay in different jurisdictions. about how much tax they pay in differentjurisdictions. it is interesting you are seeing some of the sense, which you get a lot in europe, starting to show up in the us. it is an interesting moment. you are back later on, simon. let's take a look at some of the other stories making the news. vietnamese airlines will be able to fly to the united states after the us federal aviation administration declared the country complies with international safety standards. there are currently no nonstop flights between vietnam and the united states, despite a large market catering to tourism and visits by friends and relatives. starbucks says it plans to launch a new all—day dining cafe in china which will serve a brunch menu and cocktails,. its all part of thei plan to expand its retail offering. the coffee chain has been facing slowing sales growth

in its second—largest market amid pressure from a growing number of independent coffee shops and chinese startu ps. chinese ride—hailing firm didi chuxing is planning to lay off about 2,000 people, around 15% of its workforce, according to reuters. it comes amid reports in the chinese media that didi ceo cheng wei has warned staff the company is preparing for difficult times. the company, which is one of the most valuable start—ups in the world, bought uber‘s china operations in 2016. let's go to beijing now — where us treasury secretary steven mnuchin has tweeted to say that he and us trade representative robert lighthizer had "productive meetings" with china's vice premier liu he. the comments came after two days of high—level trade talks in beijing aimed at resolving the two

countries' trade war — so far, the us has imposed import tariffs on $250 billion worth of chinese goods. on thursday after president donald trump suggested he may extend his march one deadline for china to make significant concessions on trade if enough progress was made this week in beijing. linda yueh, economist and author of the great economists is in hong kong. good to see you. any idea about what has emerged from these talks, any progress? there is limited progress. there has been a report the talks have been like pulling teeth, i am afraid. it shows the distance that still exists between the chinese and the americans. the americans are keen on two things and they are big things. one is for china to transfer intellectual property and stop subsidising its companies. those are issues the chinese are, i think relu cta nt to issues the chinese are, i think

reluctant to give way on because they view those as internal matters for china. the second bit is the americans want to monitor chinese progress. they don't think that whatever the chinese will agree at the table, they will stick to because they want automatic tariffs to kick in if china violates any of the agreements they have yet to come to. so the chinese are saying, we are willing to buy more things from america, open up our markets to american companies to resolve the trade dispute, but this dispute goes deeper than trade. it is about how chinese companies and the chinese market can be much more fair and have a level playing things vis—a—vis the american companies. briefly, there is a lot at stake and the americans have threatened to slap on more tariffs if things don't go well today? that is right. what we are looking for is have they done enough to set up a meeting with the

chinese president? markets are not counting on a breakthrough to essentially end the trade war by march the ist, when you tariffs will come into place. essentially they are counting on president trump extending the deadline so he does embrace tariffs of 25% on $250 billion worth of chinese imports. that is the best we can hope for. but hopefully when they return to dc they might persuade the president to sit down with the chinese president. if that doesn't happen by march the ist and they have a date sometime in the future, that is when the dispute will be resolved. but it won't be because of what happened in beijing today. thank you very much. asian stocks mostly fell as concern grew over reports of little progress in china—us trade talks in beijing. wall street was hit by weak us retail sales data —

that had a knock—on effect on other markets too, triggering fresh doubts about the strength of the world's largest economy. data from china also showed chinese inflation, average price rises, slowed down more than expected and that suggests chinese consumers are not spending as confidently. here's the picture across the european markets as they start the friday trading session. oil prices hit their highest level so far this year, above $65 a barrel earlier, just easing off that slightly now. traders said prices were buoyed by the partial closure of saudi arabia's safaniyah, its biggest offshore oil field with a production capacity of more thani million barrels per day. alpesh patel is with me chief executive at praefinium partners. let's have a chat about oil off the

back of what ben was saying, is it to do with sanctions with venezuela and iran? it is partly to do with sanctions, but don't forget the trend last year it only dropped off in the last couple of months. this isa in the last couple of months. this is a price—fixing cartel. it is not popular within washington, let alone other parts of the world. if anyone is affecting prices to make my daily living costs higher. qatar has dropped out of 0pec and that should reduce the pressure on oil prices. the saudis who leave 0pec and create the saudi, russian alliance are not popular in washington, neither are the russians. in this rise in oil prices will not be popular either with the consumer or with politicians out of washington. another unpopular topic, us china trade issues. how has that taken its

toll on the markets because we are hearing different things every day? that is the toll on the markets. it is really smackdown expectations. we are willing to accept even a breadcrumb now is positive news out of this. we are not expecting great things to happen. this will mean even a small success out of this will be viewed positively by the markets, because they don't have high hopes for any great, sweeping agreement. and after the vote in the commons yesterday, theresa may's vote on her brexit strategy, was rejected. we saw sterling was lower and investors thinking no deal is more on the cards? investors don't know what to think. many use algorithms to work out which way to trade, especially on volatile currencies. usually you would have a computer here instead of me telling

you which way it is going to go. i could give you some analysis and say of course we expected it to fall. but it is just as irrational as having expected it to rise. it is the trends we are looking into in the trends we are looking into in the short term and using algorithms to do it. we will be talking to you later. still to come... brexit — it's just 42 days away. but its been a week with warniungs from the likes of ford and rbs over the uncertainty related the uk's departure from the eu we'll get more with our business editor simonjack. you're with business live from bbc news. royal bank of scotland has reported profits of £1.62 billion for last year, which is more than double the £752 million it made last year.

the bank, which is 62% owned by the government, said it would make payments of £977 million to the treasury through dividends. katie prescott is our business presenter. a pretty impressive set of results? very impressive. the chief executive was at pains to stress how pleased he is to announce their second profit in a row since the bailout during the financial crisis. however, it shows, i think, during the financial crisis. however, it shows, ithink, what during the financial crisis. however, it shows, i think, what a different bank rbs is to the one it was ten years ago when the government had to bail it out. it is smaller, more uk focused and has paid off the fines in the past that have been dragging down its profits. what is interesting, it is not the numbers because we didn't expect the bank to announce a proper today but it is what it says about its future

and as you alluded to, one of the biggest issues through the results is brexit and ross mcewan said brexit is having an effect on the bank already and it is going to even more in 2019, as investment from big business slows down and trickles down to small business and then it will affect jobs. it is down to small business and then it will affectjobs. it is all about cybersecurity, which is interesting. it said it is having to fend off more and more on its systems, which is going to be a big problem for the bank going forward. katie prescott, bbc business presenter. premierfoods premier foods announced it was holding discussions about the brand ambrosia. there is the brand and the factory in devon which were both up for sale. those talks have not resulted in a deal. in the business

climate, it will not result in a satisfactory financial outcome. i haven't had custard for years. maybe thatis haven't had custard for years. maybe that is the problem. 0n haven't had custard for years. maybe that is the problem. on another food —related update, patisserie holdings has sold part of its businesses, it sold the bakery and spice cafe chain. it is another coffee business. more on those stories online whenever you want. a little bit of mixed direction. london and paris up but barely and

the frankfurt dax is down. from brexit to airbus sales slump, it's been another busy week in business. our business editor simon jack is back with us to look at some of big stories you might have missed. i remember when the a380 was launched, it was a technical local miracle. it was like a flying block of flats, you could hardly believe it got off the ground. it was going to be sold to these asian airlines who could get as many people on board as they could. it was to help out with capacity constrained airports, more passengers per plane without creating more air traffic. and then in the end the four engines it has with rising fuel costs made it has with rising fuel costs made it less efficient. then boeing with

its 787 dreamliner and airbus with the 850, much more fuel—efficient, made of lighter materials and could go from smaller airports. the nature of aviation changed so what was a technological and engineering success turned out to be a commercialfailure. success turned out to be a commercial failure. we did see it share price rise afterward so investors happy they are consolidating? the airbus a380 made up consolidating? the airbus a380 made up 296 consolidating? the airbus a380 made up 2% of airbus production, so in a way, it wasn't a massive piece of the pie but it was very interesting. it is something that air passengers will now look at and it will be in the airforup to will now look at and it will be in the airfor up to 30 years, so plenty of reminders of it. we have had the results from the royal bank of scotland. pretty impressive set of scotland. pretty impressive set of numbers. quite a stern warning about the possible impact of brexit from the boss. rbs is a very uk focused bank and you have seen the

stock market over the last year or so. stock market over the last year or so. those are banks, their share prices are underperforming but rbs, their share price is what the bank paid for them all those years ago. they are in a very good ringside seat to see what is going on in the business community. what ross mcewan said that the companies who bank with them are holding back investments, that holds back economic growth and the economy and it filters through to consumers. he said he expected impairments on loa ns, said he expected impairments on loans, people not able to pay back their loans will rise in 2019. it is their loans will rise in 2019. it is the uncertainty caused by brexit, one of the most overarching feelings. he was moody about mark carney‘s estimate of what is happening. but for this week, they said they might be pulling out of operations if no deal is becoming

clearer? ford is having a revamp and rethink about its global production footprint. the car industry is super—sensitive to potential hold—ups of the border with brexit. i don't think there is an industry thatis i don't think there is an industry that is more sensitive. if you can get the pull through, you cannot stockpile them, you need too much warehouse space. so a lot of car companies and airbus, anyone in advanced manufacturing, taking components back and forward there is a warning. alreadyjobs have gone afford. but we are only six weeks away. any businesses hoping for a bit more certainty this week, things are unclear. i that to the political editor to steer us through that particular minefield. but political brinksmanship is totally toxic for business and investment. it fell 37% year 37% year on year at the fourth

quarter last year. businesses tearing their hair out at the moment. you are free to go. in a moment we'll take a look through the business pages but first here's a quick reminder of how to get in touch with us. stay up—to—date with all the day's business news as it happens on the bbc‘s business live page. there's insight and analysis from our team of editors right around the globe. and we want to hear from you too. at bbc.com/business. on twitter we are at bbc business and you can find us on facebook @bbc money. business live on tv and online. what you need to know, when you need to know. what other business stories has the media been taking an interest in? alpesh patel from praefinium partnersjoins us again. so, butlers in the buff, i didn't

know you were an expert? your eyes just lit up. other than the objectification, which annoys me, there is a serious element. this is a company that has semi nude butlers and there is an image. they have had and there is an image. they have had a trademark case and someone else was using their trademark. it is incredibly important because the united kingdom is seen as a very good protector of intellectual property and this is part of the dispute between us and china. this was a case when somebody else had been using their trademark. equally they could have been passing off using their copyright. these things which mean your profits get linked to somebody else and causes losses. the sad thing is it is expensive to protect your intellectual property, even though the law gives you lots of protection. that is why globally, britain is so attractive as a place

for investment, even in the times of uncertainty because our laws will help protect your profits, which they don't do in other countries. isn't that the mark of a successful business, imitation is the greatest form of flattery. you tell that to the owners. somebody where this has happened, you are spitting blood and you rarely get your costs back. this is more than just, you rarely get your costs back. this is more thanjust, as i say... i didn't pick this story, by the way. i will come clean, i picked the story. what was the other one, crypto currencies, jp morgan issuing their own? this is a big story,

crypto currencies are down. i confess i own a bit of ripple. jpmorgan says these big institutional movements of money, they say it is quicker and faster to use this block chain technology to move money. but massive, credible institution. could it be a move back into bitcoin and ripple in theory. the prices of these things have barely budge. not quite yet, keep watching this space. 0k, barely budge. not quite yet, keep watching this space. ok, thanks for coming in and have a good weekend. i hope you have a good weekend. that's it from business live today. there will be more business news throughout the day on the bbc live web page and on world business report. we'll see you again. even though we saw temperatures drop

to minus three minus four in a few spots by the night, by day the sun is out for the vast majority and it will be another incredibly mild day for the stage in february. blue skies overhead for much of england, wales and scotland. the west of scotla nd wales and scotland. the west of scotland and northern ireland clouding over and by the end of the day the western isles of scotland, if not the western highlands, splashes of rain. from our temperature profile, yellow on there and an indication of the warmth that will be felt. 16 degrees across parts of north wales once more. in the midlands and the south—east. but uk wide, temperatures in double figures and that is with a strengthening breeze across northern and western parts of scotland. breeze coming from the south or south—westerly direction and that will continue into tonight. rain

turns more widespread and persistent in western scotland overnight. more rain in northern ireland. cloud in england and wales threatening showers. dry weather taking us into saturday morning and should be frost free tonight into tomorrow morning with the milder weather dominating. a few more weather fronts around on saturday, so more cloud. high pressure a cross saturday, so more cloud. high pressure across central europe. we are on the western side of it so we are on the western side of it so we are dragging the air up from the south and that will feed in those above—average temperatures throughout this weekend. let's deal with saturday first of all. there will be a lot more cloud, and dry for many. but ray will develop here and there across western areas. 0n saturday the chart shows that in the fa ct saturday the chart shows that in the fact the club will be there across central and southern parts of the country. more cloud in scotland with showers. the breeze strongest in the west. sunshine, on the hazy side will be in northern ireland and eastern parts of scotland on saturday. temperatures and eastern

parts of scotland could hit 16 degrees. chilly in shetland. 0n sunday, back to sunny weather for england and scotland at least. more cloud in the west and a few showers in western england and wales later. for northern ireland, outbreaks of rain in the morning which spreads into western scotland in the afternoon. but double figure temperatures for most and into the mid—teens for many. bye for now. you're watching bbc news at nine with me, annita mcveigh. the headlines... the home secretary says he will do everything in his power to prevent the return of shamima begum, the british teenager who fled to syria to join the islamic state group. another commons defeat for theresa may as mps vote down her approach to brexit talks. president trump says he'll declare a national emergency to secure funding for his border wall with mexico. but the democrats say they could take legal action. did i say i was filing

a legal challenge? you said democrats... i may. that's an option — we'll review our options. it's important to note that when the president declares this emergency, first of all, it's not an emergency. the state—rescued royal bank of scotland reports profits of £1.6 billion for 2018, more than double what it made the year before.