this is the business briefing. i'm sally bundock. optimism abounds. reports say most roadblocks have been cleared for a trade deal between the us and china. talks begin today in washington. the corruption scandal that sent soccer shockwaves around the wall, smack around the world, najib razak stands trial. -- around the world, najib razak stands trial. —— shockwaves around the world. and on the share markets in asia it's looking pretty steady as investors keep a close eye on those trade talks that get underway in washington later today.

the us and china are said to be nearing a deal with only a few sticking points left. as a show of goodwill, head of this round of negotiations, china's finance ministry said it would continue to suspend tariffs in imposed last year on american cars and car parts. china's also agreed to by a substantial amount of goods and some reports have put it at $1.2 trillion stop it is thought to be agricultural products that are a high priority. they say chinese firms have had unfair advantages and these include subsidising of industry, limiting access and alleged theft of international

property. and let's remind ourselves of the tariff figures — the us has slapped import taxes on $250bn worth of chinese goods and china has done the same on $110 billion of american products. those tit for tat tariffs are having an effect not only on trade between those two countries but on global trade as well. lets talk to alex wolfe. former economic officer at the us embassy in beijing. welcome to the programme. how optimistic are you about this round of negotiations? pretty optimistic. we actually have it for a number of months. the fact they are continuing to talk shows that progress is being made. you are seeing this continuation of high—level visits back and forth between china and the us which

wouldn't happen if they weren't making progress. i guess the fact is, a lot of the easy stuff, talking about actual increase in china's products of us goods. the real hard pa rt products of us goods. the real hard part was what they are discussing 110w part was what they are discussing now around verification of the deal, those other sticking points. the last rounds of talks could be delayed a bit just last rounds of talks could be delayed a bitjust as they are announcing the top aspects of the deal. in some ways, it's quite amazing we have got to this point. when we think back in the previous weeks and months, were actually many economists and experts i have spoken to have said what the us is calling for is the ——is an enormous shift in the way china does things and that's not a small asked, by any means. well, i think some of the analysis

was unclear about the us intentions. i think that while most of the view, that the us wants a matter of —— massive structural shift towards the way china does business. i think that took us intentions as to broad ofa that took us intentions as to broad of a picture about what us really wa nts. of a picture about what us really wants. at the end of the day, it's fairly narrow. if you look at trumpet‘s policies over the number of years, it is narrowly around trade. trade deficit is one key aspect was not you can expand it out. the deal is more likely than not because china can easily buy more us products and china is making a lot of progress on alert —— intellectual uppity protections. how damaging has this been to us, china and the global economy? it's hard to say. global trade is weak at the moment. it is hard to work out how

much is a result of these tensions 01’ much is a result of these tensions or broader global weakness. europe has seen weak growth on the trade side and that could be a change until negative aspect but it is a combination. tensions have her trade between us and china and i think just global growth slowdown has heard a lot of global trade. while the world's two biggest economies both insist the talks are going well it's still unclear whether us tariffs on china will be lifted any time soon. robin brant has been looking at how that uncertainty is just one of the challenges facing companies in china. in china's trainer —— trade what with the us, a winner is emerging. a red country that's watched its hands of pure socialism and has seen a rush of foreign investors. welcome

to vietnam. it is increasingly home to vietnam. it is increasingly home to high—tech manufacturers that want out of its neighbour to the north. it asked this recruiter back in china. translation: i know some big factories moved. they move out and so factories moved. they move out and so do workers. it creates an impact on us. so do workers. it creates an impact on us. it's difficult to find jobs. we found him in a change in, near atp lincoln factory. the company is a giant in the world of the world of wi—fi router is. it makes around 300 a month — make 3 million a month. it is expanding setting up in vietnam. translation might the us tariffs will make us move our production line for the —— for the production market to vietnam. we will make sure it is the same and is somewhere that has no such tariffs. there is no doubt that the trade war is a challenge but also, the workers,

there are fewer of them and they are costing more and more. then there is this, investing in automation. the workers of the future that just this, investing in automation. the workers of the future thatjust keep going and going. a recent survey but —— survey by the bank suggested significant movement. spoke to 200 manufacturers in china. around one third said they had moved one production — make some production abroad last year. around one third said they plan to this year. almost half the movers said the trade what was the main reason. translation: so far, we find vietnam can save a lot in tariff manufacturing, management and logic if -- manufacturing, management and logic if —— logistics costs. manufacturing, management and logic if -- logistics costs. all these as china's government is trying to keep business in and around shenzhen. when you connections are aimed at creating the economic powerhouse. leaving here is notjust a simple problem that my proposition anyway.

as vietnam has boomed, some foreign problems persist. a chinese businessman told me about the million dollar payment he was asked for to get the government license he needs. corruption here and there is no different. the corruption trial of former malaysian prime minister najib razak starts today, he's accused of stealing billions of dollars from the country's sovereign wealth fund 1mdb. let's go to our asia business hub where rico hizon is following the story. after months of delays, malaysia's trial of the century is set to begin shortly. let's remind you of all the allegations. najib razak bases 42 charges ranging from criminal breach of trust, money laundering and abuse of trust, money laundering and abuse of power. the former prime minister has pleaded not guilty to all of them but the disappearance of billions of dollars from the malaysia's state fund is one of the biggest financial scandal is not

just in the country but around the world. malaysia is only, not the only country investigating 1mdb. the fund was meant to boost malaysia's economy through strategic investments. it is now being probed in at least six countries including the united states, switzerland and singapore. you might remember, all the headlines it made when us prosecutors said the stolen money went to buy a private jet, prosecutors said the stolen money went to buy a privatejet, luxury real estate, artworks by picasso and monet as well as jewellery, for ms ——mr najib's y. also implicated is goldman sachs which used to issue bonds to 1mdb. they have also come under scrutiny. this trial will take months, if not years, but this is the first time for anyone to face trial over the scandal. thank you, rico hizon. our team will be busy covering that story. other

business news, theresa may is to ask the eu to give her more time to reach an agreement in parliament. she has also said she will try again to reach a compromise with the leader of the opposition labour partyjeremy corbyn which has incensed many senior figures partyjeremy corbyn which has incensed many seniorfigures in her own party. and donald trump's threatened to close the us border with mexico has boosted the cost of a breakfast favourite. the price of avocados have surged. that is as prices from the heartland of mexico's avocado production jumped 34%. i think that is the first time i have talked about avocado, the commodity. let's show you what is going on with prices as we are on the subject. as you can see, markets are going up by quite some. the

price of oil is at a four—month high. we can't show you the number but prices for oil surging because there is a lot of talk about opec production being reduced again. there is discussion of that. that is your business briefing. totte n ha m tottenham hotspur will play their first game at their new football ground at white hart lane today. the stadium has been described as the most advanced in britain and perhaps the world. it is being completed six months late and has cost more close to £1 billion. it has also had a

dramatic impact on homes and schools in the area. "to dare is to do" is their motto, and tottenham's new stadium appears to fit that billing. it will host premier league football for the first time tomorrow night, with hopes that the long overdue and over budget stadium can provide a platform to take the club to the next level. a series of problems has seen spurs frustrate their fans by continuing to play fixtures at wembley this season, while complex building issues were resolved. but those behind the project say it is one of the best venues in the world, capable of hosting american football too and revolutionising the match day experience forfans, which includes the pace at which a pint can be poured. this stadium has been many years in the building, and has been troubled by snags and delays. but now it's finally here, officials believe it will give the entire local community a huge boost. tottenham is one of britain's most socially deprived areas,

the starting place for the summer riots of 2011. spurs say the new stadium will support 3,500 local jobs. and whilst transport links remain problematic, affordable homes and two schools have already been built, giving hope of an economic dividend. with over a century of history and tradition behind them, tottenham hotspur can, at last, look to the future, hopeful that their shiny new home will give both club and community something to crow about. richard conway, bbc news, tottenham. brea kfast breakfast is coming up. it is with louise minchin and dan walker. they will have all the latest for you. this is the briefing from bbc news. the latest headlines: to raise a is going to meetjeremy corbyn to find a solution on brexit —— theresa may. president bouteflika

in algeria has resigned, bowing two weeks of pressure. and malaysia's former prime minister najib razak is getting under way — make the trial against. he is accused of stealing billions of dollars from 1mdb. let's ta ke billions of dollars from 1mdb. let's take a look at what the global media is discussing today. you can guess what is dominating. we begin with the times, who say uk prime minister theresa may will put a soft brexit on the table in talks withjeremy corbyn in a dramatic switch of tactics to get her deal through parliament. meanwhile in the independent, french president emmanuel macron has said he is open to granting a long brexit delay if the uk wants to use the time to hold a general election or a second referendum, or work out new red lines. the new york times focusses on the mexican government policies which they claim are encouraging more people to attempt to gain asylum in the us.

frustrated by an influx of migrant families arriving from central america, us president donald trump is threatening to seal the southern border if mexico doesn't do more to stem the flow of arrivals. on australia's abc news website, the tiny south east asian nation of brunei will today introduce severe penalties for gay sex and adultery including stoning to death and whipping. the new laws have drawn sharp criticism from the international community, including the united nations. and finally, who wants to live forever? according to the telegraph, scientists are hailing the extraordinary results from tests of an anti—ageing drug that show a slowing or even reversal of the process. they believe ageing is responsible for conditions such as alzheimer's, cancer, and heart disease and believe they have found a way