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 like levi strauss, for instance, last? we speak to an expert to find out. hello and welcome to asia 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 to get his thoughts on mr macron�*s economic agenda. there were some results. and especially another, the second airbus 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. 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 play? president macron invited 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 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 binance will close its australian derivatives business following the country's regulators targeted review of the company. the australian securities and investments commission said the cancellation was requested by the exchange. regulatory scrutiny of finance has —— regulatory scrutiny of binance has increased, in march 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 ——in india oxfam is being probed for alleged foreign funding violations. my

colleague has been looking into these reports. always good to get you on the programme. took us through these reports because nothing is official or confirmed just as of yet, is it? confirmed “ust as of yet, is it? ., �* , confirmed 'ust as of yet, is it? ., �* , ., ~ it? that's right and i think that is important - it? that's right and i think that is important to - it? that's right and i think that is important to make| it? that's right and i think - that is important to make clear at the outset, there has not been any kind of official statement but the indian mainstream media has been flooded with these reports including reports coming in from the premier newsagency and essentially given all 14 officials from the home ministry, it seems to have been some sort of off the record briefing for reporters and essentially as you said, that there is a recommendation that has come up from the government that the central bureau of investigating which is india's agency that handles a lot of financial crime have been told they need to start an investigation against oxfam and its indian local armour. the allegation as they have been in breach of foreign funding, one of the allegations as they are

violating existing rules. a lot of this has been based on the income tax that had been carried out in september last year against oxfam india and its india ring of the centre for policy research and a lot of the findings came out which has been analysed according to officials and this is what it has been based on. india's opposition has long alleged that the indian government has been going after these agencies that are critical of the government so this could be yet another example, but oxfam india has maintained since last year that they have always function within the rules and regulations of india.- regulations of india. always . reat regulations of india. always ureat to regulations of india. always great to get _ regulations of india. always great to get you _ regulations of india. always great to get you on - regulations of india. always great to get you on asia - great to get you on asia business report, thanks for keeping us up—to—date. 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 they've been able to leverage public capital to grow but maintain the benefits of family ownership. they are a bit unusual in that they actually went public for the first time in 1971. family descendants bought them back in 1985 and then they went public again in 2019. they've been able to leverage that capital while retaining family control by having a dual class structure that allows them to elect some membership to the board of directors. and so what we see as hallmarks in their ability to succeed in a strong investment in membrane, —— in their brand, long—term commitment to ownership and applied legacy and this family connection

and you mentioned 170 years old, but levi's jeans have actually been around for 100 and years. —— been around for 150 years. pretty incredible so they have a long legacy to rely on but they also have relevance to marketplace, they have a strong following in younger consumers 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 think the key 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 directors, 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. finally, 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. here's your change. a new 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 enter circulation. the bank's chief cashier whose signature is on these notes says there is plenty to prepare in the next 12 months. there is plenty that needs to happenjust make sure that people can use their banknotes. 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 where we still use cash to pay, where better tojudge than this site with its own rich history. i think we know the biggest change during covid when people didn't want to be touching cash and theyjust started using their phones more, their watches, their credit card. how did you pay? did you use this? this this this. it is so much faster, it's a lot easier and you keep control so i think as a dinosaur we've moved on and evolved and you go that's the future, isn't it? is there anything you use cash for these days? parking, the pound metres, that is literally at. and car washes. so cash may no longer be king in time and for some time to come, kings will be on our cash. that's it from us, thanks so much for watching. do stay with

bbc news and i will see you on monday for the business as well. have a great weekend. the company was started by my father. we've been in business 75 years, nearly. we mainly produce china, china plates, commemorative ware for celebration. it's a special occasion and it's an honour and a privilege. i'mjohn french, i've been a ceramic craftsman for nearly a0 years. i decided to make for the coronation a piece that incorporates all the skills that i've used over the last a0 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 2010 one of his 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. hey, i'm rachael with the catch up. tonight, vegan unis and a dumping ground transformation. but first, if you gamble online, the amount of money you can bet could be about to change. the sun newspaper is reporting that the government is looking to introduce a £2 bet limit for under 25s 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 but i had to do it because that side of my brain was going gamble, gamble, gamble. some other stories now. how would you feel about a vegan uni? students in edinburgh have reject they begin plan for the campus. 0nly19% 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 near his home into a community garden. after two years of hard work, he's done it. i wanted to transform the land, firstly to turn a disused hotspot into something

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

welcome to sports day. i'm hugh ferris. our top story. three magnificent sevens under par withjohn raam's recovery from a nightmare start. it helps them to share the masters league. chloe kelly, the key for england again as the lionesses win another trophy at wembley. and an offer he couldn't refuse — two years after he was sacked, frank lampa rd returns to the chelsea dugout in a caretaker capacity. hello again. three players lead the masters after the first round at augusta, withjohn ramm recovering from a double bogey to be one of those at seven under par. the world number two came back from four—putting the first for a six to record a 65 on day

one, going to the top of the leaderboard by a norwegian