centre for china analysis. you are watching bbc news. the french president prepares to wrap up his three—day visit to wrap up his three—day visit to china with some economic wins under his belt. plus, what makes a family business last? we speak to an expert to find out. hello and welcome to asia business report, i'm karishma vaswani. ourtop business report, i'm karishma vaswani. our top story for you this morning. the presidents of france and the european commission have wrapped up a series of high—level meetings with the top chinese leadership. emmanuel macron has called on chinese president xi

jinping to bring russia back to the negotiating table over ukraine and as part of his three—day visit deals have been struck including on green and nuclear energy. earlier i spoke with a professor from the sx business school to get his thoughts on mr macron�*s economic agenda. thoughts on mr macron's economic agenda.- thoughts on mr macron's economic agenda. there were some results. _ economic agenda. there were some results. and _ economic agenda. there were some results. and especiallyl some results. and especially another, the second empath assembly line in china and what is also interesting is that today, there will be one private dinner, if they have selection, it is of course to foster the economic relationship between china and france. �* , . relationship between china and france. 3 . relationship between china and france. �*, . ., france. it's a tricky one, isn't it? _ france. it's a tricky one, isn't it? because - france. it's a tricky one, isn't it? because china l france. it's a tricky one, | isn't it? because china is obviously such a huge market for france and other european countries but the politics of this cannot be ignored. so how does france balance that relationship bearing in mind

the political pressures in lake? , ~ ., . ., lake? president macron invited ursula von _ lake? president macron invited ursula von der _ lake? president macron invited ursula von der leyen _ lake? president macron invited ursula von der leyen to - lake? president macron invited ursula von der leyen to come l ursula von der leyen to come with him. when we are looking at the different speeches that have been given in beijing, macron is playing the soft part while ursula von der leyen is playing the hard card because she has warned several times china because of the alleged meddling of china and russia or in ukraine so macron is playing this card in order to say we can co—operate with china, we are the biggest chinese partner we have in the economic field so there are ways that we can co—operate while ursula von der leyen was giving some warnings to china. in leyen was giving some warnings to china. ., , , ,, to china. in other business news that _ to china. in other business news that we've _ to china. in other business news that we've got - to china. in other business news that we've got for . to china. in other business| news that we've got for you this morning, samsung electronics reported a likely

96% plunge in first—quarter operating profit. in a preliminary earnings report the will�*s largest memory chip and tv manufacturer estimated its operating profit fell to $455 million for the first three months of the year. samsung electronics is due to release its full year earnings report later this month. crypto currency platform finance will close its australian derivatives business following the country's regulators targeted review of the country. the australian securities and the commission said the cancellation was requested by the exchange of. regulatory scrutiny of finance has increased, in much the platform and its founder was sued by the us commodities watchdog for operating what was alleged to be an illegal exchange. i wanted take you for a quick check on how wall street closed overnight. as you can see on our screens all the major indices wrapping up the week in the green despite recent signs of a weakening labour market.

attention will be focused on this again later today when the us government releases its latestjobs data. my colleague michelle fleury has more. for months we — michelle fleury has more. for months we have _ michelle fleury has more. fr?" months we have been talking about the red—hotjobs market in the united states. data released earlier this week suggests that boom is starting to show signs of age not is losing momentum, job cuts are mounting and notjust in the tech sector. mcdonald's became the latest company to announce thatis the latest company to announce that is downsizing its work force and just how far the labour market has slowed to become clearer when the government releases its jobs report for march the economist are predict being companies hired close to 240,000 workers last month, a sharp drop from the 311,000 jobs in february and an even bigger reduction from the more than 500,000 jobs created injanuary. a gradual slowdown would be welcome news for america's those inside the federal reserve are worried

that the tight labour market and higher wages have contributed to inflation. the fed has raised its benchmark rate to 5% from near zero but it may not share those who are worried that a recession is now on the horizon quite a reminder to our viewers markets in hong kong, singapore, australia and new zealand will be closed for good friday along with wall street and markets in europe as well, but let's turn our attention to levi strauss. first—quarter sales came in at $1.69 billion but the firm has warned of macroeconomic uncertainties ahead. levi strauss is best known for its levi's brand of denim jeans of course but what is less well—known is that a large part of the 170 old company is still owned by descendants of its founder. earlier i spoke with jennifer pendergast who advises high revenue family businesses and she explained what is

behind its success. particularly in the case of levi's _ particularly in the case of levi's they've been able to leverage public capital to grow but maintain the benefits of family— but maintain the benefits of family ownership. they are a bit unusual in that they actually went public for the first — actually went public for the first time in 19 81. family descendants brought them back in 1985— descendants brought them back in 1985 and then they went in1985 and then they went public— in 1985 and then they went public again in 2019. they've been — public again in 2019. they've been able to leverage that capital— been able to leverage that capital while retaining family control— capital while retaining family control by having a dual class structure _ control by having a dual class structure that allows them to elect — structure that allows them to elect some membership to the board — elect some membership to the board of— elect some membership to the board of directors. and so what we see — board of directors. and so what we see as — board of directors. and so what we see as hallmarks in their ability— we see as hallmarks in their ability to— we see as hallmarks in their ability to succeed in a strong investment in membrane, long—term commitment to ownership and applied legacy and this— ownership and applied legacy and this family connection and you mentioned 170 years old, but levi's _ you mentioned 170 years old, but levi'sjeans you mentioned 170 years old, but levi's jeans have actually been — but levi's jeans have actually been around for 100 and years. been around for100 and years. pretty— been around for 100 and years. pretty incredible so they have a long — pretty incredible so they have a long legacy to rely on but they— a long legacy to rely on but they also have relevance to marketplace, they have a strong

following — marketplace, they have a strong following in younger consumers which _ following in younger consumers which is — following in younger consumers which is pretty incredible. what _ which is pretty incredible. what are some of the challenges when you do have a business that does have a family in charge and the legacy issues with that? i charge and the legacy issues with that?— with that? i think the key thin is with that? i think the key thing is to _ with that? i think the key thing is to establish - with that? i think the key thing is to establish a - thing is to establish a governance structure that sort of in a way, unlike the succession scenario, protect the business from the family. so what you see in the levi's situation is a very strong board of direct, incredible expertise at that board level, they have two family board members that represent the family's interest but they have a strong predominance of independence, there is an independent chair and they have a really strong nonfamily leadership team, they haven't had family members engaged in the business for awhile which is something we would frequently see in later stage businesses so maintaining a focus on what we would call business first but acknowledging what is important to the family in terms of a strong care for stakeholders, both the environment as well as

the communities allows them to driven approach at the same time as focusing on the innovation and being really relentless about what online performance and making good decisions. ., ., , performance and making good decisions. . . , decisions. that was jennifer pendergast _ decisions. that was jennifer pendergast there, - decisions. that was jennifer pendergast there, advisor l decisions. that was jennifer | pendergast there, advisor to family businesses speaking to me a little earlier. i wanted take you to the uk where we are about one month away from the coronation of king charles. millions of banknotes featuring the image of the new monarch are being made but if you are waiting to get your hands on them, you might have to wait just a little longer. the bbc was given exclusive access to the printing process, take a look. �* , , ., the printing process, take a look. �*, . ., ~ look. here's your change. a new monarch means _ look. here's your change. a new monarch means a _ look. here's your change. a new monarch means a new— look. here's your change. a new monarch means a new portrait l look. here's your change. a newl monarch means a new portrait on new banknotes. on this day alone 6 million tenors carrying the image of king charles are being printed for the bank of england at this highly secure site. they are ready to begin replacing nearly 5 billion notes out there featuring the queen. it's only as the older

ones come worn or damaged. up until now she has been the one and only monarch shown on the bank's circulating notes. currency which will still be accepted in the shops. the king is already on 50p coins but the monarch doesn't appear on banknotes issued an scotland and northern ireland and these look at aunt quite ready to go out. you may not be lucky enough to have a wad of cash like this, that's £50,000, but even to just get one of these notes, you are going to have to wait until the middle of next year when the king charles notes into circulation. the chief cashier whose signature is on these notes says there is plenty to prepare in the next 12 months. plenty to prepare in the next 12 months-— plenty to prepare in the next 12 months. , , , ., 12 months. there is plenty that needs to happen _ 12 months. there is plenty that needs to happen just _ 12 months. there is plenty that needs to happen just make - 12 months. there is plenty that | needs to happen just make sure that people can use their banknotes to there are thousands of machines up and down the country, thing like self—service checkouts, supermarkets, and they all have to be updated to recognise the

new designs. but to be updated to recognise the new designs-— to be updated to recognise the new designs. but where we still use cash to _ new designs. but where we still use cash to pay. _ new designs. but where we still use cash to pay, this _ new designs. but where we still use cash to pay, this site - new designs. but where we still use cash to pay, this site with l use cash to pay, this site with its own rich history. i use cash to pay, this site with its own rich history.— its own rich history. i think we know — its own rich history. i think we know the _ its own rich history. i think we know the biggest - its own rich history. i think. we know the biggest change during — we know the biggest change during covid when people didn't want _ during covid when people didn't want to— during covid when people didn't want to be touching cash and they— want to be touching cash and theyiust _ want to be touching cash and theyjust started using their phones _ theyjust started using their phones more, their watchers, their— phones more, their watchers, their credit card.— their credit card. how did you -a ? their credit card. how did you pay? did _ their credit card. how did you pay? did you _ their credit card. how did you pay? did you use _ their credit card. how did you pay? did you use this? - their credit card. how did you pay? did you use this? it - their credit card. how did you pay? did you use this? it is i their credit card. how did you | pay? did you use this? it is so much faster, _ pay? did you use this? it is so much faster, it's _ pay? did you use this? it is so much faster, it's a _ pay? did you use this? it is so much faster, it's a lot - pay? did you use this? it is so much faster, it's a lot easier. much faster, it's a lot easier and — much faster, it's a lot easier and you _ much faster, it's a lot easier and you keep control so i think as a _ and you keep control so i think as a dinosaur we've moved on and _ as a dinosaur we've moved on and evolved and you go that's the future, isn't it? there anything _ the future, isn't it? there anything you use cash for these days? _ anything you use cash for these da s? . ~ anything you use cash for these da s? ., ~ days? parking, the pound metres. _ days? parking, the pound metres, that _ days? parking, the pound metres, that is _ days? parking, the pound metres, that is literally i days? parking, the poundl metres, that is literally at. and car washes. 50 metres, that is literally at. and car washes.— metres, that is literally at. and car washes. so cash may no loner and car washes. so cash may no longer be _ and car washes. so cash may no longer be king — and car washes. so cash may no longer be king in _ and car washes. so cash may no longer be king in time _ and car washes. so cash may no longer be king in time and - and car washes. so cash may no longer be king in time and for. longer be king in time and for some time to come, kings will be on our cash. kevin looked rather delighted with that wad of a and has hands. that brings us to the end of asia business

report at this hour, thank you so much forjoining me. do stay with bbc news and i will see you with the business and about an hour's time. the company was started by my father. we've been in business 75 years, nearly. we mainly produced china, china plates, commemorative ware for celebration.— celebration. it's a special occasion _ celebration. it's a special occasion and _ celebration. it's a special occasion and it's - celebration. it's a special occasion and it's an - celebration. it's a special. occasion and it's an honour celebration. it's a special- occasion and it's an honour and a privilege. occasion and it's an honour and a privilege-— a privilege. i'm john french, i've a privilege. i'm john french, l've been — a privilege. i'm john french, l've been a _ a privilege. i'm john french, i've been a ceramic- a privilege. i'm john french, | i've been a ceramic craftsman for nearly 40 years. i decided to make for the coronation a piece that incorporates all the skills that i've used over the last 40 years. the picture here that i've actually painted on, this is actually the well scarred uniform so i thought it's quite good to get a

transition. in it's quite good to get a transition.— it's quite good to get a transition. ::' :: ., ., , transition. in 2010 one of his ma'es transition. in 2010 one of his majesty the _ transition. in 2010 one of his majesty the king's _ transition. in 2010 one of his majesty the king's charities i majesty the king's charities stepped in to preserve, regenerate this building using millions of pounds of funds that were gathered so the king really did save this pottery back then and it was so important to us and that's why we are so grateful. i’m important to us and that's why we are so grateful. i'm rachael with the catch _ we are so grateful. i'm rachael with the catch up. _ we are so grateful. i'm rachael with the catch up. tonight, - with the catch up. tonight, vliegen unions and a dumping ground transformation. but first, if you gamble online, the amount of money you can bet could be about to change. the son's paper is reporting that the government is looking to introduce a £2 bend limit for under 25 on online slots games. rebecca was 19 when she first

started gambling. she told us what life was like for her. i got to the point where it was just gambling and it was boring by had to do it because that side of my brain was going gamble, gamble, gamble. some other stories _ gamble, gamble, gamble. some other stories now. _ gamble, gamble, gamble. some other stories now. how - gamble, gamble, gamble. some other stories now. how would i other stories now. how would you feel about a vliegen unique? students in edinburgh have reject they begin plan for the campus copy only 19% voted yes but similar plans have been approved in other universities like birmingham and stirling. and frank lampard will make a surprise return to chelsea as manager until the end of the season, replacing graham potter who was sacked over the weekend. now, it's time to celebrate the things you guys are doing to make the world a better place. two years ago, this man from liverpool decided he would turn wasteland has home into a community garden. after two years of hard work, he's done it. i after two years of hard work, he's done it.— he's done it. i wanted to transform _ he's done it. i wanted to transform the _ he's done it. i wanted to transform the land, - he's done it. i wanted to transform the land, turn he's done it. i wanted to i transform the land, turn a hotspot into something that is really useful, a multipurpose as for the community. last up,

it's ten seconds _ as for the community. last up, it's ten seconds of _ as for the community. last up, it's ten seconds of a _ as for the community. last up, it's ten seconds of a cat - it's ten seconds of a cat interrupting prayers. the imam leading ramadan evening prayers calmly carried on as the cat climbed up and sat on his shoulder. you are all caught up now, have a good night.

welcome to sports day. our top story. three magnificent sevens under par withjohn's recovery from a nightmare start. we will begin to share the masters league. chloe kelly, the key for england again as the lioness wins another trophy at wembley. and an offer he cannot refuse, two years after he was sacked, frank lampard returns to the chelsea dugout in a caretaker capacity. hello again, three players leave the masters after the first round, with john masters after the first round, withjohn ramm recovering from a double body to be one of those at seven under par. the world number two came back from for parting the first for a six to record a 65 on day one,

going to the top of