this is the business briefing. i'm maryam moshiri. the founder and ceo of the chinese telecoms giant huawei sends a defiant message to the us. ren zhengfei says his company won't yield to pressure from washington. and can the globalfashion industry do more to tackle the impacts of cheap throwaway fashion culture? i'll talk to an expert. and on the markets, asian stocks looking slightly firmer this tuesday. hopes of progress in the us/china trade talks and gains in europe on monday helping increase investor confidence. the us markets were closed yesterday for a public holiday, that's their closing figure for friday. we start with the company at the centre of the us—china

trade war, huawei. in an exclusive interview with the bbc, the founder and ceo of the chinese telecoms giant was defiant, saying pressure from washington will only make it stronger. our asia business correspondent, karishma vaswani, spoke exclusively to huawei's famously reclusive founder ren zhengfei. translation: there is no way the us can crush us. the world needs huawei because we are more advice. even if they persuade more countries not to use us they persuade more countries not to use us temporarily we could just scale things down a bit, and speakers the us keeps targeting us and finding fault with us it has forced us to improve our product and services. what kind of impact would it have on your business if the united states is successful in

getting many of its partners in the west to shut your equipment out?“ the lights go out in the west the east will still shine, and if the north goes dark there is still the south. america does not represent the world. how important is the future of huawei in the uk with regards to your investment plans and jobs? are you able to guarantee that he will not be pulling out of the uk? you will not be taking jobs out of the uk? we will continue to invest in the uk. we still trust in the uk and we hope the uk will trust us even more. the uk and we hope the uk will trust us even more. we will invest even more in the uk because if the us doesn't trust us we will shift our investment from the us to uk on even bigger scale. mr ren, i would like to raise the issue of your daughter.

this is a personally very challenging time for you. she is in canada. she has been arrested at the request of the us and she faces extradition. how do you feel about this and what will you do if she is sent to jail? i object to what the us has done. this kind of politically motivated act is not acceptable. the us likes to sanction others whenever there is an issue. they will use such methods. we object to this. there is no impact on huawei's business due to her loss of freedom. in fact, we are growing even faster. so they caught meng. maybe they got the wrong person. maybe they got the wrong person. maybe they got the wrong person. maybe they thought it they arrested her huawei would fall. but we didn't fall, we are still moving forward. our company has established processes and procedures and no longer relies on any one person. evenif longer relies on any one person. even if i myself go one day, this company won't change its trajectory

forward. that was the founder of huawei, ren zhengfei. europe's biggest bank by market capitalisation, hsbc, has just announced a 15.9% jump in annual profits. let's go to our asia business hub where shara njit leyl is following the story. talk us through hsbc‘s figures? that's right, it is a jump, but it came in below expectations for the year, came in below expectations for the yea r, really a came in below expectations for the year, really a reflection of its exposure, to some extent, to the us— china trade war. the fact that the chairman of the bank also acknowledged. yes, profits were up 16%, just a shade under $20 billion, but these were short of estimates that would put it over $21 billion. hsbc is the world's largest trade

finance institution. the two countries are currently in negotiations in the hopes of coming to some sort of agreement before and early march deadline. the us said it would increase tariffs on goods from china. another big worry is this lowdown in china. it hit about 6.6% last year, the slowest annual rise, in fact, last year, the slowest annual rise, infact, in last year, the slowest annual rise, in fact, in almost three decades. and of course the bank still relies on asia for much of its profits and some fear that the chinese lowdown will disrupt the bank's investment plans in the rest of this region as well. bear in mind, it is the first yearly results since chief executive john flint took the helm of euro's biggest bank. he is under lots of pressure to deliver, and one of the ways was to try to reduce costs. shareholders are watching to see if he will be able to rein in some of the runaway costs and continue to grow the runaway costs and continue to gi’ow reve nu es the runaway costs and continue to gi’ow revenues at the runaway costs and continue to grow revenues at the bank. now let's brief you on some other business stories. the car manufacturer, honda,

is set to announce the closure of its uk swindon car plant in 2022, with the loss of about 3,500 jobs. the japanese company made 160,000 honda civics in the town last year, of which some 90% were exported to the eu. a new round of talks between the united states and china to resolve their trade war will take place in washington on tuesday, with follow—up sessions at a higher level later in the week, the white house says. the talks follow a round of negotiations that ended last week in beijing without a deal. australia and new zealand banking group has reported slower mortgage book growth than the overall market. that's as the lender said it may have been "overly conservative" in its lending approach. the sydney—based bank said its domestic mortgage book rose i% in the year ended december 2018, compared to a 4% rise in the overall market. uk clothing brands and retailers should pay a penny on every garment they sell to fund a 35 million pound annual recycling scheme. that's the view of britain's mps, who say "fast fashion" is a major contributor to greenhouse gases,

water pollution, air pollution and over—use of water. dilys williams, director, centre for sustainable fashion at london college of fashionjoins me now. ip ip per garment does not sound like much but it obviously adds up. is that incentive enough?” much but it obviously adds up. is that incentive enough? i think it is really important because at the moment some businesses are doing great things and others are doing nothing. if we get to the point where all businesses need a licence to operate and everybody contributes to operate and everybody contributes to changing the system we are making one step. 0bviously to changing the system we are making one step. obviously it is not enough in itself but it is a really important step. what is it that the uk buys more clothes than any other european country? it is a sad fact. we are bombarded with lots of images of amazing things, and yes, new fashion is fantastic. at the moment

we are buying more than anybody else and wearing its less and chucking it away. this model is broken and the report says that. it says we need to com pletely report says that. it says we need to completely change how we think about nature and each other because fashion comes from nature, it is made by people, and we can do much better, we can do it more differently, and lots of young designers are doing that already. what is the overall answer? to some degree you could say there are some people who can't afford to buy more expensive fashion, they need to have access to cheaper clothing. is the a nswer access to cheaper clothing. is the answer what the mps are saying, to teach people to mend clothes, or is the answer some else? there are lots of different answers. some things you have got you only wear a few times, other things a precious and you want to get them repaired or washed. inc the idea is there are lots of different ways we can create change but we always have to value the content of fashion. garments don't need to be chucked away. fashion has not always been something that is as disposable as eating it up and consumer in it. do

we have too much in our wardrobes? we absolutely have too much. and in fa ct we we absolutely have too much. and in fact we are wasting the value of clothes. there are things which go to landfall still with their tags in them. it is not necessarily that we are getting good value by buying cheaply, we are not necessarily thinking it is precious to us, it should be about something that is delightful, we should feel great in it and it should help us to live well. i read some way takes 20,000 litres of water to make a cotton shirt and one pair ofjeans. that's incredible, i didn't realise it ta kes incredible, i didn't realise it takes so much waterjust to make clothes. yeah, every part of what we wear comes from precious resources, many of them not renewable. if we think differently about fashion we can actually enjoy it better. also, mental health stress. people have got too much stuff in the uk and thinking differently about that is already starting to happen. lots of our students are looking at ways in which we can actually have less stuff at enjoy it better. what advice would you give to anybody who wa nts to advice would you give to anybody who wants to help the environment in

terms of theirfashion wants to help the environment in terms of their fashion choices? only wear the things you really love. where something that stands up for who you are. at the moment there is a lot of squandering of nature and each other. you don't want to wear something that exploits are the people. we are learning more and more about this exportation now. we are disrespecting ourselves and each other through some of our fashion choices. we can make it wants. thanks forjoining us. a quick look at what the markets have been up to. mild optimism is the best way to descibe the feeling amongst investors in asia, who are looking for some progress in the china/us trade talks. markets staying close to their opening levels though. that's it for the business briefing this hour. a small inflatable boat carrying 3a migrants has been intercepted off the coast of dover.

they include a number of women and children, who were brought back to shore on monday by border force officials. our special correspondent lucy manning reports. border force boats patrolling the english channel. early morning, and this patrol boat, to cut and lifeboats are called into action after a small inflatable boat crowded with migrants is intercepted off the coast. they were brought into the port at dover, covered in bla nkets into the port at dover, covered in blankets trip to take them from the cold. 3a migrants were rescued, including men, women and children. at the moment it is not clear what nationality they are. many recently have been iranian. they have been taken to be interviewed by immigration officials. three people we re immigration officials. three people were arrested. the life vote towed in the rib they used to cross the

channel. with 3a aboard it would have been overloaded and dangerous, still the crossings continue. have been overloaded and dangerous, still the crossings continuem have been overloaded and dangerous, still the crossings continue. it is deeply concerning we have had another arrival today and it underlines the importance of making sure we have round the clock aerial surveillance up and down the english channel and on the french coast. it is incredibly important that we take action to stop the traffickers before they set off. last year, 539 people attempted to cross the channel in small boats, with 434 of them making the journey between 0ctober them making the journey between october and december. the bbc believes around 90 people this year have arrived the same way. but that number is just a small fraction of those who arrived here on the back of lorries into our ports. the national emergency the home secretary declared saw him redeployed two cutters. 0ne secretary declared saw him redeployed two cutters. one is now patrolling these waters. the other still has not arrived and is being repaired. this is the briefing from bbc news.

the latest headlines: ren zhengfei, the founder of chinese telecoms giant huawei, has told the bbc that the arrest of his daughter on the request of the united states is a "politically motivated act." fears for the future of the uk car industry as honda is expected to confirm its closing its factory in swindon. 16 us states sue the federal government over donald trump's national emergency declaration to fund his border wall. now, it's time to look at the stories that are making the headlines in the media across the world. we begin with bloomberg. it looks at the political events here in the uk over the last day, saying a split and a death in the labour party could change the course of brexit. 0nto the financial times now, it reports on another blow to the uk car industry as honda closes its factory in swindon.

the guardian among many covering this story. there are calls for prison sentences of under six months to be scrapped with thejustice secretary here saying they don't work. the independent reports on the pounds rise against the euro —— pound's rise against the euro and how tourists are stockpiling exchanged currencies amid brexit uncertainty. and finally, the sun newspaper looks back at what it calls the ‘kiss that swept the world off its feet‘ at the end of world war ii, and remembers its remarkable story as the sailor involved dies aged 95. with me is jane foley, senior foreign exchange strategist at rabobank. i know that currencies are your thing but i know you have been keeping a close eye on the uk political situation, and a difficult time for the labour party yesterday. seven members quitting the party. pressure now on the labour leader jeremy corbyn. some people saying

this will change everything. 0thers say it doesn't mean much. there is a lot of analysis on happens next. there is an awful lot that could happen. there are comparisons on the 19805, that happen. there are comparisons on the 1980s, that was something they didn't want to draw against. they said they were not too many comparisons. acting for now, a lot of this literature is about brexit. does it change their strategy for brexit? there will be a by—election in wales. we have the death of paul flynn. what happens if labour loses? it could have implications to the brecon strategy. it particular report is saying that if the strategy does alter, as