hello and welcome to business today. we begin in the us where shares of ford have fallen by around 6% in after—hours trade. the company lowered its guidance for the year. on the earnings call, the chief executive jim farley attributed the soft outlook to a global price war in the industry. our north america business correspondent has the details. ford reported third—quarter earnings beating analyst expectations on revenue but at the lower end of its full year forecast. it now sees about $10 billion in earnings before interest and taxes this year, instead of it previous range of 10-12,000,000,000. third—quarter profit fell less than expected however. results were affected by a $1 billion charge on cancelling production of an suv in august, saying the vehicle could no longer be done

in the timeline required. it's facing around a $5 billion loss on electric vehicles this year, despite cost improvements. the ceojim despite cost improvements. the ceo jim farley has despite cost improvements. the ceojim farley has made despite cost improvements. the ceo jim farley has made tough decisions about the company's e v line up as competition from tesla and china has intensified over the past year. board results follow general motors blow out third—quarter earnings and consistent profit guidance increases for the year. —— ford's results. increases for the year. -- ford's results. volkswagen is ”lannin ford's results. volkswagen is planning to — ford's results. volkswagen is planning to lay _ ford's results. volkswagen is planning to lay off— ford's results. volkswagen is planning to lay off tens - ford's results. volkswagen is planning to lay off tens of. planning to lay off tens of thousands of workers and shut down three factories in germany. that's according to their works council, and it comes after negotiations with unions. the company has faced significant pressure to cut costs. they added that restructuring concrete proposals will be shed on wednesday. boeing is looking to raise around $20 billion, crucial to preserve its investment grade credit rating.

boeing has been struggling recently with more than 30,000 brokers in the us on strike since september. —— 30,000 workers. the largest union voted to reject a 35% pay bump. the aircraft maker reported a loss of $6 billion in the third quarter of the year. we are a week away from the us election, and a large part of both campaigns have focused on trade policy. tariffs in particular. but how would these taxes on imports impact small businesses in the united states? michelle fleury investigates. this is america's oldest active bicycle maker. it's been around since 1898. so they know what trade policy can do to american manufacturing. tariffs haven't helped you create more jobs? manufacturing. tariffs haven't helped you create morejobs? it helped you create more jobs? it basically hurt our bottom line with no benefit. the basically hurt our bottom line with no benefit.— with no benefit. the owner is scared of— with no benefit. the owner is scared of what _ with no benefit. the owner is scared of what may -

with no benefit. the owner is scared of what may be - with no benefit. the owner is| scared of what may be coming next. more tariffs. ratherthan help donald trump's 2018 harris hurt his business because of the tyres, seats and pedals come from abroad. —— 2018 tariffss. come from abroad. -- 2018 tariffss. ~ . come from abroad. -- 2018 tariffs— come from abroad. -- 2018 tariffss. ~ ., ., tariffss. we have no choice now but to pass _ tariffss. we have no choice now but to pass some _ tariffss. we have no choice now but to pass some of— tariffss. we have no choice now but to pass some of it - tariffss. we have no choice now but to pass some of it onto - but to pass some of it onto consumers. and they have a big effect. if we weren't paying these tariffs, think what we could have done, invest in machinery, personnel, to grow our business.— machinery, personnel, to grow our business. republicans were all about free _ our business. republicans were all about free trade, _ our business. republicans were all about free trade, while - our business. republicans were all about free trade, while if. all about free trade, while if anything democrats lean towards protectionism for industry and jobs. then donald trump slipped the debate. the self—described tariffs man donald trump used import duties to grow america's manufacturing sector by making foreign countries foot the bill. ~ ., ., ., ., bill. we are going to have manufacturing _ bill. we are going to have manufacturing but - bill. we are going to have manufacturing but a - bill. we are going to have manufacturing but a lot . bill. we are going to have| manufacturing but a lot of bill. we are going to have - manufacturing but a lot of it's just taxation policy, carious

policy. they are going to come roaring back. when they have to pay tariffs to come in but they have incentive to build here, they are going to come running back. , , u, they are going to come running back. , , ., , back. the republican nominee is lookinu back. the republican nominee is lookin: at back. the republican nominee is looking at 2096 _ back. the republican nominee is looking at 2096 parish _ back. the republican nominee is looking at 2096 parish on - back. the republican nominee is looking at 2096 parish on all - looking at 20% parish on all foreign imports to the united states. and 60% or more on goods made in china. —— 20% tariffs. kamala harris mocked him over tariffs. he tariffs. kamala harris mocked him over tariffs.— him over tariffs. he will impose _ him over tariffs. he will impose what _ him over tariffs. he will impose what i - him over tariffs. he will impose what i call- him over tariffs. he will impose what i call a - him over tariffs. he will. impose what i call a trump sales tax because he has an intention of putting at least 20% tax on necessities. yet intention of putting at least 2096 tax on necessities. yet she still appears _ 2096 tax on necessities. yet she still appears willing _ 2096 tax on necessities. yet she still appears willing to - still appears willing to support some tariffs on china for favoured support some tariffs on china forfavoured industries support some tariffs on china for favoured industries like semiconductors, all of which points to the shifting winds in washington. points to the shifting winds in washington-— points to the shifting winds in washington. there is certainly less enthusiasm _ washington. there is certainly less enthusiasm around - washington. there is certainly i less enthusiasm around pursuing what _ less enthusiasm around pursuing what we — less enthusiasm around pursuing what we might call an affirmative trade agenda, liberalisation, openness, reduction of barriers. and i think these are the tools now being — think these are the tools now being used, tariffs,

restrictions, industrial policy, _ restrictions, industrial policy, they are probably here to slay — policy, they are probably here to sta . , . , to stay. restricting imports was meant _ to stay. restricting imports was meant to _ to stay. restricting imports was meant to help - to stay. restricting imports was meant to help workers | to stay. restricting imports - was meant to help workers and businesses like wayne's. not so, he says. businesses like wayne's. not so. he says-— so, he says. for the bicycle industry. — so, he says. for the bicycle industry. its _ so, he says. for the bicycle industry, its discouraging i industry, its discouraging companies like us from continuing to have american people making our bikes. shill continuing to have american people making our bikes. all of which leaves _ people making our bikes. all of which leaves a _ people making our bikes. all of which leaves a free _ people making our bikes. all of which leaves a free trade - which leaves a free trade without a clear champion in the race for the white house. businesses in asia are particularly watching for changes in us trade policy after the november vote. the american chamber of commerce says right now there is nothing to worry about.— to worry about. businesses of course have — to worry about. businesses of course have to _ to worry about. businesses of course have to think- to worry about. businesses of course have to think about. course have to think about their business plans, and the tariffs play a role in that, but at the same time there were other things involved. supply chain resilience. and now we have to think about the climate. businesses have a lot to catch up on, and administrations also need to think about the many things they can do to help support

businesses and the economy. in businesses and the economy. in terms of policies, start with president trump... obviously has policy in office, former president trump, was very damaging to china. lots of conversation about supply chain migration. have we seen that, have we seen companies moving operations to vietnam and india as people expected? we operations to vietnam and india as people expected?— as people expected? we have certainly seen _ as people expected? we have certainly seen some _ as people expected? we have l certainly seen some movement out of china because there was a particular strategy called china plus one, so certain businesses decided to strengthen their supply chain presence in southeast asia, which have been great for southeast asia. there is a huge population and a huge consumer base. but that does not mean businesses are pulling out of china. their commitment there is strong, they continue to do business there, even if operations remain slightly different than across the world. southeast asia has benefited from some of the movement in this china plus one strategy. movement in this china plus one strate: . ., ., ., .,

strategy. returning to kamala harris, a strategy. returning to kamala harris. a lot— strategy. returning to kamala harris, a lot of— strategy. returning to kamala harris, a lot of criticism - harris, a lot of criticism early on as a presidential candidate was that we didn't know about her economic policy. what do we know now when it comes to asia?— comes to asia? her economic oli is comes to asia? her economic policy is likely _ comes to asia? her economic policy is likely not _ comes to asia? her economic policy is likely not going - comes to asia? her economic policy is likely not going to i policy is likely not going to be very different, particularly in the first year. we have a global economy still in flux, we still see inflation, we still see a lot of activity where it's hard to predict exactly where we are going. so businesses also need to be mindful of that. the next president of the united states, where they might take us... businesses will be ready, they will have a plan a, b and c. how are businesses in asia hoping the next administration manages relations with china? businesses certainly do not want a decoupling. that is a word we hope to be banished from the vocabulary. but the idea of derisking makes sense and businesses are in the business of making sure they delist any element that might

cause disruption to their supply chain. —— they have derisking for any element that might cause disruption. we want healthy relationship with china. as i mentioned, businesses continue to conduct businesses continue to conduct business in china. so hopefully healthy, competitive, open communications type of relationship will be good for everybody. relationship will be good for everybody-— relationship will be good for eve bod .�* , , , , everybody. and 'ust briefly, is there any h everybody. and just briefly, is there any indication _ everybody. and just briefly, is there any indication of - everybody. and just briefly, is there any indication of who . there any indication of who business owners would prefer? good try, but i'm not going down that road! we are all very savvy professionals and we are adults, we can work with whichever administration comes into office. injanuary. we know businesses will continue to do good for the economy and communities, so everything will be fine, folks. for communities, so everything will be fine, folks.— be fine, folks. for the latest u dates be fine, folks. for the latest updates and _ be fine, folks. for the latest updates and developments l be fine, folks. for the latest i updates and developments on be fine, folks. for the latest - updates and developments on the us election, visit our website for live coverage leading up to november the 5th, just seven

days away. lots to follow there. before we go, some other stories. apple has released an update that enables artificial intelligence features. apple intelligence features. apple intelligence will help users to proof read texts and remove unwanted objects from photos. it's a big milestone for apple whose ai strategy has been criticised for falling behind samsung and google. but if you are in indonesia, you may not be able to enjoy those features, because the country has blocked the sale of iphone 16 smartphones. the ministry of industry says smartphones must contain 40% locally sourced components to be sold in the country. the iphone 16 does not meet that requirement. apple has yet to respond to the statement. hsbc shares are trading slightly higher today ahead of its quarterly results which will be out in about an hour and a half. last week, the bank announced a major overhaul

in structure, splitting geographically into eastern and western markets. hsbc also announced there will be job cuts to senior roles. the latest on their report card onceit latest on their report card once it is out. a subway customer in new york is suing the fast food chain for allegedly misleading her regarding the amount of meeting her sandwiches. regarding the amount of meeting hersandwiches. in regarding the amount of meeting her sandwiches. in her lawsuit, she claims subway�*s advertising contains, 200% more meat than the steak and cheese sandwich she received. fast chain has not responded. that's all we have time for on business today, stay with bbc news.

hey, i'mjulia with the catch—up. tonight, badjoke backlash, a cctv scandal and a sea of chalamets. but first, manchester united have sacked manager erik ten hag. he's only been in the position for two and a half years. it's after a bad start to the season, with just three wins from the club's first nine matches. the former captain, gary neville, said it was coming. with the us elections just over a week away, trump's camp are dealing with a lot of backlash after a comedian made

this controversialjoke at the latest rally. there's literally a floating island of garbage in the middle of the ocean right now. yeah, i think it's called puerto rico. trump's campaign says the comment does not reflect his views. some other stories now. the labour party have suspended one of their mps after a video showed him punching a man in the street. mike amesbury will now have to sit as an independent. bus fares across england are about to get more expensive. the price cap is going up in most places from £2 to £3. it's part of the government's budget plan. and while the government looks at how the curriculum could add more diversity, some artists say they want to see more focus on black british music. as opposed to just teaching me about mozart, bach, it would inspire more black british people. 1519 00:12:58,441 --> 00