welcome to us campaign trail. welcome to business today. following quarterly reports from three of the uk's big banks, it is now the uk's big banks, it is now the turn of hsbc. europe's largest lender reports results in half an hour. last week, it's new boss unveiled an overhaul dividing it into four businesses. what are we expecting? businesses. what are we meeting?— businesses. what are we exectinu ?, ., ., expecting? judging from other uk banking — expecting? judging from other uk banking giants' _ expecting? judging from other uk banking giants' results - uk banking giants' results recently, it has been a pretty decent quarter for the banking sector. hsbc shares up by about 3% ahead of the latest results. but of course hsbc has a much bigger presence in china than its rivals, so investors will closely watch if its china business has been recovering, especially given as we have reported china's economy has

been struggling to recover. another thing investors will be watching for more detail is the restructuring announcement you mentioned. the new boss has said the aim is to cut costs, but we are not sure whether this is a true split between the west and east units. if so, it is something a chinese investor has been lobbying for, for many years. it could be much less dramatic, it could be tinkering with the boundaries of different divisions, which could explain why shares in hsbc didn't react much to the announcement last week. but thatis announcement last week. but that is something investors will be closely watching in about half an hour. also many analysts saying their decision could depend on many geopolitical tensions we are seeing at the moment, most notably the upcoming us presidential election. tariffs could be raised, if donald trump was to be re—elected.

shares up by 1% now. trump was to be re-elected. shares up by 1% now.- trump was to be re-elected. shares up by 1% now. thank you. boeina shares up by 1% now. thank you. boeing has _ shares up by 1% now. thank you. boeing has announced _ shares up by 1% now. thank you. boeing has announced a - shares up by 1% now. thank you. boeing has announced a stock. boeing has announced a stock offering that could help them raise $20 billion, which would be crucial to preserve their investment grade credit rating. boeing has struggled recently with more than 30,000 workers in the us on strike since september. last week, about two thirds of the workers in the largest union voted to reject a 35% pay offer. they also reported a quarterly loss of $6 billion forjuly to september. volkswagen is planning to lay off tens of thousands of workers and shut down three factories in germany. that's according to their works council. it comes after negotiations with the unions lasting for weeks. the company has faced significant pressure to cut costs. volkswagen added that restructuring is needed, and concrete proposals will be shed on wednesday. shares in ford fell by 6% in after—hours trading after the company

lowered its guidance for the year. on the earnings call, chief executive jim year. on the earnings call, chief executivejim farley exhibited the soft outlook to a global price war in the industry. 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 its previous range of 10—12 billion. 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 profitable in the timeline required. ford's facing around a $5 billion loss on electric vehicles this year, despite cost improvements. the ceo jim farley has made tough decisions about the company's ev line—up as competition from tesla

and chinese automakers has intensified over the past year. ford's results follow rival general motors' blowout third—quarter earnings and consistent profit guidance increases for the year. apple has released an update that enables artificial intelligence features in some iphones. 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 lagging behind samsung and google. but if you are in indonesia, you may not be able to enjoy those ai 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. we area

we are a week away from the presidential election. a large part of both campaigns have focused on trade policy and tariffs in particular. 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? it basically hurt our bottom line with no benefit. the owner is scared of what may be coming next. more tariffs. rather than help, donald trump's 2018 tariffs hurt his business because of the tyres, seats and pedals come from abroad. we have no choice now but to pass some of it onto consumers. and they have a big effect

on us, these tariffs. if we weren't paying these tariffs, think what we could have done, invest in machinery, personnel, to grow our business. not long ago, republicans were all about free trade, while if anything democrats lean towards protectionism for industry and jobs. but then donald trump flipped the debate. the self—described tariff man, donald trump used import duties to grow america's manufacturing sector by making foreign countries foot the bill. we are going to have manufacturing but a lot of it's just taxation policy, tariffs 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. the republican nominee is looking at 20% tariffs on all foreign imports to the united states. and 60% or more on goods made in china. kamala harris mocked trump

frequently over tariffs. he will impose what i call a trump sales tax because he has an intention of putting at least 20% tax on everyday necessities. yet she still appears willing to support some tariffs on china, forfavoured industries like semiconductors, all of which points to the shifting winds in washington. there is certainly less enthusiasm around pursuing what we might call an affirmative trade agenda, liberalisation, openness, reduction of barriers. and i think these other tools now being used, tariffs, restrictions, export control, industrial policy, they are probably here to stay. restricting imports was meant to help workers and businesses like wayne's. not so, he says. for the bicycle industry, what they've done is discouraging companies like us from continuing to have american people making our bikes.

all of 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. a spokesman from the american chamber of commerce says right now it's notjust about tariffs. businesses of 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 terms of policies, start with president trump... obviously his 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 have 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 has been great for southeast asia. it has 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. turning to kamala 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? her economic policy is likely not going to be very different, particularly in the first year. we have a global economy still influx, 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. for the latest updates on the developments around the us election, visit our website for live coverage leading up to polling day on november the 5th. that's all we have time for on business today. stay with us, in the next hour we will have the latest hsbc results and analysis. thanks for watching.

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. and here's ten seconds of timothee chalamets — plural. yes, the real timothee gave fans a huge shock when he gatecrashed his own lookalike contest in new york. the winner got a modest $50 prize, which is about £39. you're all caught up now. see ya. hello, welcome to sportsday, i'm hugh ferris. our top stories — erik ten hag is gone, but have manchester united already found his replacement? rodri wins the ballon d'or, but

real madrid boycott the event because their player doesn't. and we speak to the double amputee who has smashed an ironman record by two hours. hello again. welcome along to sportsday. 14th in the premier league, more than a year without a win in europe, manchester united have pulled the plug on erik ten hag's reign as manager, and they could well be already honing in on his successor. the dutchman was sacked after nearly two and a half years in charge after another defeat on sunday, with his assistant ruud van nistelrooy given the job on an interim basis. but then reports later on monday suggested the sporting boss, ruben amorim, might be united's target for the position in the long term. i still think it's very attractive,

maybe less attractive than it was.