the us federal reserve delivers another rate cut — but is fed chair, jerome powell, on a collision course with president—elect donald trump? plus — meet the future of social media influencers. picture perfect and completely artificial. hello, and welcome to business today. i'm steve lai. let's begin the united states where the federal reserve has lowered its key interest rate by a quarter of a percentage point. the fed chair, jerome powell, since it's too early to tell how the new at trumpet ministration might affect the world's largest economy or borrowing costs. mr powell also hit back neck speculation that his post might be injeopardy, as donald trump plans to assume power in washington. jerome powell said he would not leave his post — jerome powell said he would not leave his post if— jerome powell said he would not leave his post if asked _ jerome powell said he would not leave his post if asked by - leave his post if asked by president—elect donald trump.

he hit back at the president does not have the legal power to fire or demote him.- does not have the legal power to fire or demote him. some of the president — to fire or demote him. some of the president elect's _ to fire or demote him. some of the president elect's advisers l the president elect's advisers have — the president elect's advisers have suggested you should resign _ have suggested you should resign. if he ask you to leave, would — resign. if he ask you to leave, would you _ resign. if he ask you to leave, would you go?— resign. if he ask you to leave, would you go? no. can you follow-op _ would you go? no. can you follow-up on _ would you go? no. can you follow-up on - _ would you go? no. can you follow-up on - do - would you go? no. can you follow—up on — do you think legally, _ follow—up on — do you think legally, you are not required to leave? _ legally, you are not required to leave?— legally, you are not required to leave? no. in his presser on thursday. _ to leave? no. in his presser on thursday. the _ to leave? no. in his presser on thursday, the fed chair was inundated with questions about how officials may be adjusting economic forecasts in response to trump's reelection. powell said the election outcome would not affect what policymakers do in the near term because it's too early to know what actions the trumpet ministration will take, and he added that officials do not adjust their forecast until after a law has been passed. powell spoke after unanimous decision by officials to cut interest rates by a quarter point, bringing the federal funds quarter point, bringing the federalfunds rate to quarter point, bringing the federal funds rate to a range of 4.5 — federal funds rate to a range of 4.5 - 75% - federal funds rate to a range of 4.5 — 75% — and it came on the heels of a larger half—point cut back in september. overall, powell

didn't offer too much of forward guidance on where rates could go from here, keeping his options open for the december meeting and beyond. he stressed that officials can take their time to lower their rates because the economy is strong. for more on this, let's bring in tom porcelli, chief us economist at pgim fixed income. this is another example of powell handling it perfectly. he basically said — he did not see scope for him to sit down like a step down, if he was asked to, he said he would not. and again, i think that's what the market wants to hear — i think the market wants to hear there would be a steady hand at there would be a steady hand at the fed as we continue to move forward. his term is up in the next year and a half, and at that point, it sounds like trump will replace him. the trump will replace him. the trump team has said at this point that they expect he'll stay, that powell will stay through the end of his term, so

that gives him a year and a half. there's no doubt there will be challenges from an economic perspective — but again, i think powell handled it right when he said he would deal with those challenges when they come, whether it's on the physical front or from a labour perspective, or a labour perspective. i think he really answered these questions in such a solid way. shares of trump media have plunged by more than 20% in the united states. the donald trump—owned company, which runs the truth social platform, recently reported losses in the third quarter. but its shares briefly surged when mr trump won the presidential election earlier this week, securing his historic return to the white house. china's top legislative body has been holding meetings all week, where hopes are on additional stimulus measures. earlier this week, chinese premier li qiang reiterated that the country is on track to hit its growth target of around 5% this year. lily mcelwee, from csis, says the return of donald trump could make it more difficult

for china to meet its economic goals. first of all, before beijing even knew who had one, there had been announcements about stimulus measures. so i think there's recognition in beijing that the chinese economy cosmic issues go beyond us policy measures. that said, trump has one, his administration has announced over the course of their campaign trail that they are intent on and plummeting major tariffs on china, up to 60% on some chinese goods. we've seen trump do it in the past — he had 25% tariffs on some chinese goods in his first term. he's tied tariffs as a foreign policy tool, so he's concerned about the trade deficit, and will be focused on remedying the us china trade deficit. so i think beijing should be wary that there are tariffs to come which will impact its economy. for more on how a trump presidency could impact china's economic plans,

you can head over to our website bbc.com. my colleaguejoao da silva has writen a piece explaining how mr trump's victory is likely to hinder the chinese government's plans to transform the country into a technology powerhouse. british luxury car maker bentley has pushed back its timeline to exclusively sell electric vehicles. the company will now give itself a decade more to reach this goal — instead of 2030, as originally planned. bentley's boss says the firm needs "to be honest" as there is "not a lot of demand" for evs. japan's nissan is embarking on a $2.6 billion cost—cutting exercise. the car maker says it will cut 9,000 jobs globally, and slash the pay of its chief executive by half. this follows weak sales in the united states and china — its two biggest markets. the un's international labour organisation has found that the share of the global economy that goes to workers, rather than those who own companies, has fallen to a record low. workers are currently getting just over 52% of global income. the bbc�*s tadhg enright spoke to the ilo's deputy director—general to find out why workers are getting

a smaller share of the economic pie. during the covid period, many workers lostjobs and many of the others were on reduced hours. so that was a decrease for worker income even as the share of global income that was going to capital was increasing. but it's notjust covid — technology has a lot to do with this and, as we bring in new kinds of technology, whether it's robotics or artificial intelligence, that has a positive shock, a really positive effect on labour productivity. but unfortunately, what we've seen is that workers have not shared fairly in the gains from that productivity. fairly in the gains from that productivity-— fairly in the gains from that roductivi . , , ., productivity. does this growing disari productivity. does this growing disparity between _ productivity. does this growing disparity between workers - productivity. does this growing disparity between workers and | disparity between workers and those who own capital, such as

land, factories or patents, considering you? it land, factories or patents, considering you?— considering you? it does concern _ considering you? it does concern us _ considering you? it does concern us because - considering you? it does concern us because it. considering you? it does - concern us because it means that we are falling behind on what the united nations calls the sdg's — the sustainable developing goals. and there are two in particular that are related to this —i is reducing inequalities, but also sdg ten, which isjob creation inequalities, but also sdg ten, which is job creation and decent work. so as notjust any jobs that are created, butjobs where workers are safe. if we do not have greater equality, what you see is a breakdown of social cohesion that is dangerous. because social justice, as it says in our constitution, it really is the basis for lasting peace. but on an economic standpoint the microscale, the reason it's important is because when you see labour income worker shares globally, that will translate into stagnating or reducing

power for into stagnating or reducing powerforfamilies and into stagnating or reducing power for families and workers to be consumers. and that actually is a huge role in our global economy. artificial intelligence influencers are a growing industry, with some ai models gaining hundreds of thousands of followers and getting increasingly lucrative sponsorship deals. aitana is one of the world's most popular ai models — known for her stylish pink hair. the bbc�*s cyber correspondent visits her barcelona—based creators, who are responsible for producing and curating aitana's "life". a photo shoot with no model. she's not late, though — she doesn't exist. aitana is an ai model. since she was created around a year ago, she's amassed a big following and is making thousands a month for her barcelona based agency. we intend to her barcelona based agency. - intend to always try to make it as similar as well and influencer would do. we take a picture with me and the image — and we have to replace it with and we have to replace it with a ai, so we have to play a bit

with the lights and shadows to make it as possible. may be barcelona as the background would be more interesting? touch—ups used to take around a day, but now it's a few hours because of how the ai's improved so much. here's the final product. the studio says they can get thousands of pounds a month for sponsored posts and endorsements with aitana. hervirtual life posts and endorsements with aitana. her virtual life is built for her mostly male fans — a key demographic for these ai models. some find the message they're sending to boys and girls troubling. i message they're sending to boys and girls troubling.— and girls troubling. i see huge issues with — and girls troubling. i see huge issues with the _ and girls troubling. i see huge issues with the rise _ and girls troubling. i see huge issues with the rise of - and girls troubling. i see huge issues with the rise of ai - and girls troubling. i see huge issues with the rise of ai in i issues with the rise of ai in models _ issues with the rise of ai in models and influencers. i think they— models and influencers. i think they are — models and influencers. i think they are setting and unrealistic beauty standard that — unrealistic beauty standard that is— unrealistic beauty standard that is close enough to being real, — that is close enough to being real, that _ that is close enough to being real, that a lot of people who follow — real, that a lot of people who follow them don't realise they're _ follow them don't realise they're not real — especially teenagers, young teen girls. aitana — teenagers, young teen girls. aitana is— teenagers, young teen girls. aitana is marketed as a fitness loving woman who lives a healthy lifestyle. she's even been sponsored by nutrition and sports brands. is there a problem where you're promoting a body image of someone that is

in many ways perfect — and there are some people, some of your follows that say, "i wish i had that body?" yelled mike in the beginning, we tried to make more curvy— in the beginning, we tried to make more curvy models, for example. _ make more curvy models, for example. or _ make more curvy models, for example, or not _ make more curvy models, for example, or not standardised models — and claims didn't like that. but you can see these everywhere. comparing her to the rest of the influencers, she looks the same as the rest. the agency started creating more models with more diverse looks, including some men too — although apparently marketeers are as interested in mail ai models. the latest project is for a major car company — the brief is to design an ai model to be the face for an in car ai voice assistant — a very 2024 assignment. joe tidy, bbc news. and that's it for this edition of business today. thanks for watching. i'll see you soon.

hey, i'm ruby with the catch up! tonight — potential charges

for tim westwood, knock—off ozempic, and a social media ban down under. first — donald trump is prepping to pick out his new cabinet. you might recognise some famous faces in line for the top jobs. the bbc�*s dylan arzoni is in dc with more. well, donald trump will begin to pick his cabinet and other senior advisors in the coming days and weeks, as he prepares to return to this building behind me. some of the rumoured top contenders include robert f kennedy, jr — the nephew of the former presidentjohn f kennedy — as well as the world's richest man, elon musk, who spent much of the last month on the campaign trail for donald trump. some other stories now — the met police have submitted evidence against tim westwood, after historical sexual abuse allegations were made against him. the ex—bbc radio 1 dj denies those claims. it's now up to prosecutors to decide whether to press charges.

the company that makes ozempic is warning against using cheaper replicas. wegovy says knock—offs have been linked to ten deaths and 100 hospitalisations. and do you think social media should be banned for under—16s? that's what australia has got planned. the government there says it wants to curb content that could harm physical and mental health. we're going to leave you with ten seconds of a nervous dad — so focused on the task at hand, that he made his way down the aisle without his daughter! quickly saved there, and it's safe to say it seems like it definitely broke the ice. that's it from us, you're all caught up, see you later!

hello, and welcome to sportsday with me, will perry. coming up on the programme... with me, will perry. his days at old trafford could be numbered, but interim boss ruud van nistelrooy leads manchester united to theirfirst european win in over a year. it's lee carsley�*s last england squad before thomas tuchel takes over. we'll tell you who the interim manager has called up, and who misses out. and former england rugby union international danny care tells us everyone in the squad was terrified of eddiejones when he was in charge. if you spoke up, you wouldn't be able to play for england any more. so that was the power that he had.

a warm welcome to sportsday, on bbc news. a second—half double from amad diallo saw