this is the business briefing. i'm sally bundock. the new boss of the imf tells the bbc, global tensions, from the us—china trade war to a no—deal brexit, could cost the global economy $700 billion next year. beijing criticises apple over an app that helps protestors tracks police in hong kong, hot on the heels of the national basketball association row, we go live to our asia business hub. and right now, the only way is down for financial markets worldwide as investors weigh the escalation in tensions between the us and china.

china and the us are to resume trade talks later this week to try to end a stand—off over tariffs that damaged the global economy. the new head of the international monetary fund said the global fallout of these tensions, with the added stress of a no—deal brexit would knock almost 1% off global growth, or roughly $700 billion, in 2020. my colleague michelle fleury sat down with kristalina georgieva for her first interview in her new role. two years ago you were much more upbeat on your forecast for the global economy. now the imf sounds more pleasant mistake. what happened

in these two years is that we moved from a synchronised upswing, 75% of the world growing faster, do a synchronised slowdown, 90% of the world economy slowing. and when you look at the many reasons, these are fractures in the world economy that are holding growth the bark. and you have pretty pessimistic numbers on how the trade dispute between the world's how the trade dispute between the worlds to two largest economies are affecting world growth. we see by 2020, a loss of 0.8% of global gdp, this is the equivalent of $700 billion. and what is most significant is that it is not the direct impact of tariffs that are most harmful, most harmful is the loss of confidence. what is so clear

is that everybody loses. we are expecting trade talks to resume, what advice do you have do offer to these huge two trading partners?” personally see criticality of recognising that different countries have different grievances around trade and that we have do take to sort candidly about these grievances, and i see how we can address them. if we fail to do so, then we are worse off. and that is not a good excuse if you can say, you know what, i am a loser, but you area you know what, i am a loser, but you are a bigger loser than me. i don't think this is what people expect from leadership. kristalina georgieva of the new managing director of international monetary fund, thank you so much. thank you. i met her at the world economic

forum in dallas, she is bulgarian, very smart and feisty. it will be interesting to see how she runs the imf. beijing has criticised apple for allowing an app that tracks the movement of police in hong kong, claiming it helps protesters in the ongoing demonstrations. an article in state newspaper people's daily questioned whether apple was "thinking clearly". the iphone maker is the latest foreign firm to rattle china, following the national basketball association and sports brand vans also embroiled. all this as us and china prepare to meet to resolve trade row. let's go to our asia business hub where rico hizon is following the story. it's nice to see you, rico. this is just another spanner in the works, is it? in terms of a smooth path to trade negotiations? absolutely. you mention apple, you mention vans, the nba and the latest initiatives in the united states. undoubtedly, both

sides are going on the offensive and a full—court press, that is basketball jargon ahead a full—court press, that is basketballjargon ahead of negotiations in bc. tensions are already running height —— in dc. they are running high even before the games begin. the united states is putting 28 companies on their entity list, restricting their access to american technology without government approval. the us also announced visit restrictions on eight unnamed officials associated with them. and analysts are saying, sally, the us' tactics are undoubtedly a high risk, seeking to pressure the chinese trade delegation before the main event really gets under way. with a dispute between both sides showing no sign of ending, there are even reports, sally, that the chinese delegation may even cut short its meeting amid these latest moves by the americans. you have tit—for—tat

ta riffs the americans. you have tit—for—tat tariffs imposed by the us and china, hurting financial markets and slowing capital investment and trade flows over the past year, and president trump has said, sally, ta riffs president trump has said, sally, tariffs on chinese imports will rise on october tariffs on chinese imports will rise on 0ctober15 if no progress is made in the negotiations. sally. thanks, rico, that is the latest on that. now let's brief you on some other business stories. sterling fell to near a one—month low against the euro following reports that brexit talks between britain and the european union were close to breaking down. i was legally of a rug because said it will be the —— irish legally override because that it will be difficult to reach an agreement before the october deadline —— leo varadkar. us central bank boss jay powell said it will take action soon to ensure businesses can readily access cash by buying us treasury bonds. the move is aimed at preventing a spike in short—term interest rates and follows recent disruption in overnight borrowing or ‘repo' markets.

caring for the elderly is a global issue with many of us leaving work to look after a loved one. new data out today reveals the impact it's having on the uk economy. according to aviva, in the uk alone, 20% of workers aged 45 and over expect to quit theirjobs to care for a relative or partner. and age uk estimates that the cost of those workers leaving the economy is around $1.8 billion a year. however, paying others for care is also expensive. in the us, for example, a private room in a nursing home costs on average over $100,000 a year. and the care burden is growing, those aged 65 and over are expected to exceed a quarter of the global population by 2050. with me is emily holzhausen, director of policy and public affairs, carers uk. welcome. it's good to have you on

the programme. many of your viewers today have been showing me their stories. i give one example. delia says "i spent nearly five years supporting my brother—in—law, who, due to cancer, needed 24—hour care." it's not just due to cancer, needed 24—hour care." it's notjust the elderly, is it? it's notjust the elderly, is it? it's not. we have lots of people with mental illness, we have brothers and sisters with learning disabilities, within families, it's not just the elderly. disabilities, within families, it's notjust the elderly. and there is an enormous ageing population that we have come across. about one in seven workers currently are juggling work and care, and yet it remains an invisible issue at work and people don't recognise themselves as carers. they have tried to calculate the cost, it's very difficult, it's not just about money. the cost, it's very difficult, it's notjust about money. it's notjust the cost of the carer, there are mental health and physical wellbeing —— their health. it's difficult when

the under financial pressure. —— their health. it's difficult when the under financial pressurem —— their health. it's difficult when the under financial pressure. it is difficult, and women tend to take on most of the share of this caring and that affects their income if they give up work together in the short—term. but it also catastrophic for their tension in the long—term. the impact is huge and we see people who are ill at work is the result of this. in the uk, i know you are a uk organisation, what needs to be provided to support carers, more government help is needed, for sure? definitely. we need betterfunding of social care. that has been underfunded for decades. if we can look at that as we have invested in childcare, if we could do the same, that would keep people in work and we could improve the right space we have at work. we have much softer rights for people who are caring for relatives. where are they getting it right? i have mentioned it is a global issue, and it is a cultural issue. in some cultures you look

after everyone in your family, issue. in some cultures you look after everyone in yourfamily, no matter what their age is, for example,japan, india. matter what their age is, for example, japan, india. where do they get this right? yeah there is no country that isn't struggling with this, japan included. they have a better, stronger right space for workers, we would definitely like to see something like that in the uk. they also have invested more in their care system. but even there, they are struggling to keep up with demographic changes. the cost in the united states for example, the cost of care for someone, it runs into the hundreds of thousands of dollars, which is unsustainable for most households. so where are we going if there isn't proper help for carers in the future, given the fact of the population is ageing and we're all living longer? the risk is if we don't invest in care, we will an increased number give up work to care. 2.6 million have done so already. we will see productivity from businesses being challenged, recruitment will be challenged,

organisations with positive policies look at how much they save on the bottom line, and they think it is £1.8 million in reduced unplanned absences and £i.3 £1.8 million in reduced unplanned absences and £1.3 million additionally with retention, so there is a really positive business benefit in investing more. emily, it has been great to have you on the programme. thank you to for all your comments and stories. has a bbc debriefing is the place to look. i'll see you in a moment. —— #bbcthebreifing is the place to look. my my previous guest willjoin me in a moment and we will look at the global media. the nobel prize for medicine has been awarded to a british scientist and two americans, for their research into how cells respond to oxygen.

their work is paving the way for new therapies for diseases like anaemia, and cancer. fergus walsh reports. just for a moment, the serious work of science was put on pause. at the peter's laboratory at the university of oxford. he had no advance warning of oxford. he had no advance warning of the prize. ifound out this morning, it's —— as my secretary catherine came into the laboratory with an anxious look on her face. he suggested i talk to someone from stockholm. what was your reaction? i was delighted, a little bitjust surprise this morning was not integrated into the people in my lab, the people who me set this up, and everyone in it. sharing the award with william kaelin and gregg semenza for their discoveries on how human cells sense and adapt to the

availability of oxygen. for elite athletes like the nasa smith, powering away to gold at the 200 metre world championships, cells are perfectly calibrated to get maximum exposure power “— perfectly calibrated to get maximum exposure power —— dena usher smith. for mountaineers at high altitudes, oxygen levels can be dangerously low, akin to what patients experience in intensive care. discovering how the human body adapts to extreme situations has many medical applications. sir peter's share of the prize money is nearly £250,000, he says he has no idea how he'll spend it. he seemed anxious to get back to his laboratory. bbc news, 0xford. you are with the briefing on bbc

news. they had lines. , the latest headlines: as the eu accuses britain's prime minister of a blame game over brexit, ireland's leader says he'll work until the very last moment to try to secure a deal, but not at any cost. the white house says it won't cooperate with the impeachment inquiry launched by democrats, calling it partisan and unconstitutional. let's talk through what has been discussed today in the global media. we begin with germany's die welt and it says borisjohnson‘s pushing the blame on to angela merkel as a no—deal brexit looks increasingly likely. here in the uk, the guardian reports that merkel and the other eu leaders could offer the uk an extension until next summer in a bid to avoid leaving without an agreement. the times newspaper among many with the news that some universities in the uk are to offer new students crash courses in sexual consent.

this story's on many of the sport pages — this is the sun's take on england's footballers, saying they'll walk off the pitch if there's any racism directed towards them in their european qualifiers. and finally, here's one from the bbc news websit. the latest euromillions jackpot has been won in the uk. everybody is talking about this. who has this ticket? it is actually slightly more than that. at £170 million, it's the country's biggest and could make the lucky ticketholder richer than these stars. with me is alpesh patel, chief executive of the investment management company praefinium partners. even richer than you. i wasted my time working. i should have spent all my time filling in lottery ticket. i don't know whether you are wasting your time or not. start with die welt and the guardian, two

different european papers with the