this is the business briefing. i'm sally bundock. the art of a deal. the uk's foreign minister dominic raab is in washington looking to secure a trade agreement with the united states. disney loses its magic, despite box office smash hits such as the avengers endgame — profits are lower as it pumps money into its streaming service. and on financial markets a bounce back on wall street brings some relief — but investors remain cautious with gold soaring to over $1,500 an ounce.

as the countdown to brexit continues talks about whether the uk can do a trade deal with the world's biggest economy, the united states is among the top priorities. the uk foreign secretary dominic raab is in washington today to meet his opposite number mike pompeo. total trade in goods and services between the world's first and sixth largest economies was worth $262.3 billion last year. two weeks ago president trump said after a phone call with borisjohnson that could be multiplied "three to four, five times" under a post—brexit trade deal but gave no details on how. at the moment the eu accounts for almost half of all the uk's imports and exports, that's more than three times as much as the usa which at almost

15% has the biggest share for an individual country. a trade deal could close that gap but the unresolved question about how irish border will be kept open could make it difficult to get it through congress. the us is one of the guarantors of the good friday peace agreement and many politcians are reluctant to back a deal they think could undermine it. ireland's prime minister leo varadkar said if no—deal was reached between the eu and the uk, the irish border would be up for discussion. no deal, we're going to have to talk and the first thing on the agenda is going to be citizens rights, the financial settlement in the solution to the irish border before we even started york about free trade agreement. if there is a deal, can start to talk about a free trade agreement and a new economic and security partnership to discuss on and on and on for many years, this doesn't end, this is a permanent new

status, permanent change in relationship between the eu and ireland on the one hand in the uk on the other that we are going to have to work through. joining me now is chris southworth who's the secretary general of the international chambers of commerce. there is no doubt for the us has problem with the border between the republic of ireland and northern ireland is a big deal. it's usually important to everybody, that trading relationship is an awful lot by removing the border, simplifying the board actually has created a much more peaceful environment, so it's really, really critical that is maintained. in terms of trade between the uk and the united states, what other top priorities?” think underneath the discussions, this is a lot of misinformation and it's obviously a very, it's a great thing tojump into a credit —— to think we will jump thing tojump into a credit —— to think we willjump into a trade deal with the us, but the fundamentals of a treasure, we're in conversation of a treasure, we're in conversation of a trade deal with europe and us in

2017, that failed for two effective reasons. one was around food standards, chlorinated chicken, the other was around the nhs, access to running other services. and those haven't changed. so whatever the government wants to do, it's with the public would accept that is unlikely, at least not in short—term, the whole deal would need to be sold and it's hard to see that the us would want to do a deal without everything being on the table. and that was the problem with conversations are becoming into the press into the media when the president trump is lost here in the uk. whether the nhs is a part of a trade discussion or not. whether it was off limits. in the uk i know from the point of view of the government they want to guard the nhs very close accommodate that? something the public feel very strongly about the food standards, it's the same thing. you have a difference of opinion and the public was the consumers, that's very important and thus a difference between doing a trade deal or not and if you can't sell to the public,

it would happen. president trump makes a good point about scaling up trade because as a compelling argument, not for a trade agreement as such but to actually scale up existing trade was a bit is a big trade relationship and without a trade relationship and without a trade agreement, there were a lot of little barriers to that trading relationship, the us you got to remember is a federal structure, but there are 50 different states underneath that. in each state has different regular tory requirements but if you could align the existing regular tory structures, the rules, then you could actually scale up existing trade and there would be a lot more quicker wins in that area. you could still have discussions about long—term trade agreement but if you want quick wins in terms of the trade relationship, that's a more fruitful avenue to take. from your perspective, do we believe that a trade deal or trade discussions might go well or better under the prime ministership of irisjohnson just because borisjohnson and president trump seemingly have a

good friendship organ relationship? it was good to have good relations and the uk and us is a very strong leisure ship. but trade deal is a trade deal. but it doesn't really matter but your allies and friends and everything else because you've really got to negotiate about some really got to negotiate about some really quite hard things will stop and the devil is in the detail. isn't it? indeed, that's all trade. thank you chris for your time, good to see you so early in the morning. let's now talk about disney, which has released third—quarter earnings which fell short of market expectations, as investments in digital operations outstripped box—office hits such as aladdin and avengers end game. here's the breakdown of its results from michelle fleury in new york. the disney film avengers endgame is the most lucrative theatrical release ever by beating avatar at the box office. but the strong performance of its movie division —— despite the strong performance, while disney's third quarter results deserve appointed investors, she spoke ottawa died 28% from a year

ago, falling short of expectations, shares fell on the news. the results come at a time of huge change for the family friendly entertainment giant was not drop in profits, as a result of the cost the company is absorbing to create its new digital streaming service by disney plus. which is lodging in november to challenge netflix. in march it also acquired tv and film assets of 21st century fox. speaking of results, while disney's ceo says that the quarter affected the company ‘s effo rts quarter affected the company ‘s efforts to enhance and advance its strategic transformation. now, let's brief you on some other business stories. walmart is under pressure to use its corporate power to help crack down on the sale of weapons in the us. the country's biggest retailer, has faced criticism before over arms sales. but after a multiple shooting at a texas store, and the death of two staff at a mississippi branch, critics say walmart has a responsibility to act. more than 1,000 jobs could be

at risk after fashion firm boohoo bought the online business of uk brands karen millen and coast for $22.1 million. the firms 32 uk high street stores and 177 concessions, employing 1,100 people, now appear set to close. administrators deloitte said the stores would trade for a short time. and glencore could be about to halt production at one of the world's biggest cobalt mines after prices for the battery metal collapsed. the financial times and bloomberg both report the mining giant will announce the closure of its mutanda mine in the democratic republic of congo, when it reports its results for the first half of the year later today. let's now talk about cryptocurrencies and north korea, because a leaked united nations report has revealed pyongyang stole $2 billion to fund its weapons

programme using cyber—attacks. the report says north korea targeted banks and crypto—currency exchanges. let's go to our asia business hub where shara njit leyl is following the story. there are so much talk about crypto currency is and what you can hide. here's an example. absolutely, it sounds like something out of a spy film, doesn't it? because essentially as you say it has been revealed by the sleet united nations confidential report i should add, saying that banks were targeted, noted —— backs were targeted, to try and collect cash was not sources confirm to the bbc that the humans actually been investigating some 35 cyber attacks and the reporters were sent to the security council is north korea censures committee says that north korea's attacks against crypto currency exchanges essentially allowed to generate

income in ways that are harder to trace and subject to less government oversight and regulation in the traditional banking sector. experts a p pa re ntly traditional banking sector. experts apparently are also investigating cyber mining activity designed to earn foreign currency. we know of course all this comes as north korea launches to missiles this week alone in fact the fourth such launch in less tha n in fact the fourth such launch in less than two weeks. king john alone said the lord was a warning against joint military exercises being carried out. —— kimjohn alone. —— kim jong—un. there is also a licit ship transfers connected to weapons of mass traction and also since 2006 there has been very, very sanctions that opens up another gravel stop —— very ha rd that opens up another gravel stop —— very hard sanctions.

that's it for the business briefing this hour. but before we go, here are the markets. british viewers are rapidly switching from broadcast tv to online services such as netflix according to new research. the media regulator ofcom says the fall in tv viewing is accelerating and is calling for a national debate about the future of public service broadcasting. our correspondent rory cellan—jones has this report. tv is changing fast and so are our viewing habits. from u—tube to netflix, to add they are, we have much more choice of what to watch and when. ofcom says nearly half of

all uk households pay for one on demand service. it's still accounts are most of our viewing, but is declining at a faster rate. in 2012, the average person four hours of what cost to be a day. last year, that had 43 hours and 12 minutes. and for 16 to 2a —year—olds, the figure was much lower. one hour and 25 minutes. i don't watch live tv anymore. other than the occasional soap. this hardly anything that's worth watching anymore. to what they used to be. major tv events like the finale of line of duty, can still attract a major audience, more than attract a major audience, more than a million people to dented this but uk broadcasters are being massively outspent. ethics will have $15 billion, that's more than £12 billion, that's more than £12 billion to spend this year on new content. many times was available for new uk programming. the media regulators is public service

broadcasting is worth preserving.” think forgetting huge benefits from uk, home grown and produced content which reflects the lives of british people actually are. the research shows that he was still pretty satisfied with the quality of television, but more and more say other services of a man way of viewing and for intent can imagine not watching broadcast tv at all. this is the briefing from bbc news. the latest headlines: the british government has accused the eu of refusing to engage in fresh talks on brexit. officials at the european commission insist they are open to discussions, but are waiting for the uk to clarify its position. fbi agents investigating the gunman who killed his sister and eight others in dayton, ohio on sunday had a history of violent obsessions about committing mass murder.

his family say they are fully cooperating with the investigation. pakistan's prime minister has said if necessary, he will refer the indian government's decision to stripjammu and kashmir of its special status to the united nations. he's warned it will increase tensions between the countries. now, it's time to look at some of the stories that are making headlines in the media across the world. we start with the irish times, which is leading on the brexit deadlock between the uk and the european union. the paper says a meeting has been set up between the irish and british prime ministers, leo varadkar and boris johnson. to the financial times now, and the dollar conundrum facing the us. as america accuses china of being a currency manipulator, the ft reports donald trump and his treasury secretary are concerned about the strength of the greenback. a striking image of the author

toni morrison appears in the independent. she's died at the age of 88. the paper describes her as the nobel laureate of the black experience and says she explored african american identity in her searing fiction. one wonders what toni morrison may have made of this picture on the bbc news website, a handcuffed black man being lead by rope by two white police officers on horseback. it happened in texas, and the galveston police chief has apologised, saying his officers showed poorjudgement. and finally, the daily telegraph has a surprise for us all. it turns out, according to new research, coffee has no impact on your sleep. scientists in the us say cigarettes and alcohol will keep you awake, but drinking tea or coffee within four hours of going to bed has no affect at all.