about a% of its global workforce, roughly 1000 jobs out of 26,000. the news comes as amd and other chipmakers like nvidia and intel are locked in a race to release newer, more powerful ai chips. we have more from new york. the generative ai craze has been powered by the nvidia graphics processing unit, or gpus, turning the chipmaker into the world's most valuable company. as the second biggest producer of gpus, amd is playing catch up, with these layoffs part of the efforts to position itself to take advantage of that al boom. in a statement, the company told the bbc... they would not say which areas or which sectors of the company

these layoffs would affect but as everyone gets more excited about generative ai, it is clear the real action is shifting to chips. rival intel's efforts are off to a rocky start while customers like microsoft, meta, 0penai, amazon and google have begun working on their own ai processes. this is shaping up to be a critical battleground for al supremacy. apple is facing a lawsuit from consumer group which for locking a0 million british customers into the icloud service. it alleges that apple breach competition laws by encouraging the users to use the icloud or make it difficult to access alternative services. if successful apple could be on the line to pay £3 billion. apple has rejected the anticompetitive claims saying the users are not required to use icloud with many relying on third—party alternatives.

amazon has launched its alternative to china's temu. amazon haul will give customers in the us access to products priced $20 or less as it expands its footprint in the e—commerce industry. the ceos said the initiative comes amid rising patterns customers opting for cheaper essential items. turning now to bitcoin and a digital asset that has benefited from the trump election win. on a november, one day before the us election, the price of the currency was above $67,000 but a week later the price has surged by nearly 30%, topping $87,000 yesterday. today nine days after the election, bitcoin continues to surge and currently sits just below $90,000. trump's stance on the campaign trail was a promise of deregulation, fueling the momentum. if crypto will define the future, i want it to be mined, minted and made in the usa, it will be.

it will not be made anywhere else. we had a manager say if the current upswing in the prices is here to stay. the election outcome is quite positive for the digital asset industry in the us, and i think it is both macro and regulatory, unified republican control of government of the white house, the senate, the house of representatives, will mean that trump can pass most of his fiscal policy plans including tax cuts, so that might get us a faster growth, high inflation but also a bigger budget deficit, and that sort of thing can rock demand for bitcoin. we can move ahead with innovation and areas like tokenisation, stable coins, decentralised finance, that require clear rules of the road. a positive outcome for the industry, and that is what you see reflected in the price.

it is notjust bitcoin, there are other cryptocurrencies that will benefit? doge queen started but it was highly promoted by elon musk. how should arthurs lake that beer viewed by our viewers? you should think _ beer viewed by our viewers? you should think of _ beer viewed by our viewers? 7m. should think of them as cultural artefacts like artwork. pieces of artwork can have value because they are valued by a culture, especially if they are scarce. i encourage investors to think of in that way, if you think it will be a long—lasting cultural artefact and it is scarce, maybe that is something they can maintain value. i discourage raise investors from beginning their journey with these coins, bitcoin, these are the assets that are available and the most widely distributed array of products in the us, the right place for most investors to begin the journey.- place for most investors to begin the journey. begin the “ourney. donald trump has been begin the journey. donald trump has been busy — begin the journey. donald trump has been busy picking _ begin the journey. donald trump

has been busy picking his - has been busy picking his cabinet this week, one of the key roles that countries around the world will be watching, who will be the next us trade representative? this person will be the face of the trump's trade policy which is expected to heavily feature tariffs also ahead of his second term he has flagged taxes on goods from china at around 60% while imports from other parts of the world could face levies of up to 20%. a former us trade negotiator laid out the biggest implications of a trump presidency on global trade. i do not think there is any question that when it comes to trump and trade, there will be little subtlety or nuance. we're looking at what will probably be the most protectionist us presidency in roughly 100 years. when he moves forward with those global tariffs you mentioned in those 60% tariffs on china, ata minimum, i do not think there is any question that we will probably be launched into the most significant global trade war since the 1930s, and at that point in myjudgement at least,

the rules—based global trade system which has been in place since the end of the second world war and has served us well, will for all intents and purposes to be dead and buried, unfortunately. sounds like we're in for a bumpy ride. trade is a 2—way street. if trump does impose these high tariffs he has been talking about, how will countries react and what will be the fallout? i do not think there was any question that if he moves forward with even just a portion of what he has talked about, it will be so egregious in terms of economic impact and a violation of global trade rules, that most trade partners will be compelled to respond. at that point i think it is likely that trump will count to retaliate against the retaliation, and will be off to the races. one important point to keep in mind is that trump envisions himself as the consummate negotiator, it is all about the art of the deal.

there is at least a possibility here that he envisions these tariffs as negotiating leverage to bring countries to the negotiating table to attempt to negotiate these sort of trade deals, as he did with china in his first term. it is certainly a real possibility. going to australia where university bosses have large potentialjob losses with the closure of around 300 independent colleges from the government planned to cover enrolment of international students to 270,000 due to public concern about housing shortages and immigration. from sydney, we have this report. graduation is a milestone to savour. but at the university of sydney, not everyone is celebrating. casual academic staff say caps on international students could cost them theirjobs. i am pretty horrified by the government's management of the university sector.

i have no idea whether i am going to get work next semester. we apply for contracts and the number given is dependent on the number of students we are taking. the record levels of immigration including students have put more pressure on australia's housing rental market. there are concerns that visa loopholes allow some migrants into the country not to study but to work and stay indefinitely. it is important to send a message to the world that we want students to come here to study but we want a managed system, and we want to make sure all institutions can benefit. after iron ore, coal and gas, international education is one of australia's most available exports. last year it generated about $25 billion. the largest number of students come from china and india. the big question is will a cap on overseas enrolment damage australia's reputation?

major universities believe the planned reforms are economic vandalism. australia has one of the world's biggest international student markets. but that could change. options are quite few. now new destinations are coming up in europe and asia and other places but most students coming to australia would be looking at us and uk. earlier this year australia was hosting more than 700,000 international students. a record number. for many like abbey from shanghai, a political economics and law graduate, it can be a life changing experience. i am culturally a chinese person for sure but when i got back to china i noticed a lot of the australian traits coming from me. yes, i am definitely becoming more australian and i like australian people, they are superfriendly and laid—back. can you see yourself living in australia? hopefully, for sure. for the rest of my life.

a path that might not be open to others, although the government insists caps on international student numbers would make migration levels more sustainable. just to give you an idea of how much international education is worth, in its 2022—23, it was $24.7 worth, in its 2022—23, it was $2a.7 billion, making it australia's fourth largest export that year. if your company, goodbye for now.

hey, i'm julia with the the catch up. tonight: trump's new team, a hair—loss gamechanger, and a spy whale mystery. donald trump visited president biden at the white house today.

it is tradition for the changeover injanuary, and trump has wasted no time building his new team, starting with... elon musk, who will head up the department of government efficiency — or doge for short — which is for slashing wasteful spending. and trump's pick for defence secretary, fox news host and army veteran peter hegseth. he'll be in charge of the world's most powerful military — and it's his first everjob in politics. have you heard of asking forangela in a bar ora pub? it's a campaign for getting discreet help if you feel unsafe. but an undercover bbc reporter asked in 25 bars in london and over half didn't understand it. it comes as more councils are saying they will only give alcohol licenses to venues that take part. "the fashion industry should be concerned by skinny models "being back on trend." that's what a top boss at british vogue said.

she thinks it could be because of weight loss drugs like 0zempic. a 2a—year—old from ireland has won a james dyson award for her invention. inspired by her mum's chemotherapyjourney, 0livia's portable device helps patients prevent hair loss. and here is ten seconds of arctic mystery. remember when a beluga whale was spotted in a harness and rumour spread that it was a russian spy? well, an expert said she suspects it actually escaped training to guard a naval base. you're all caught up now. see ya. hello and welcome to sportsday. i'm hugh ferris. our top stories: harry kane says he's unhappy about england players pulling out of the squad.

the captain claiming country comes before club. battling back from an opening defeat and overcoming illness: carlos alcaraz is on track again at the atp tour finals. and sebastian coe says he'll make sure the ioc protects women's sport if he becomes its president. hello again. captain harry kane claims england should come before everything, with the total number of players that have withdrawn from the squad for the nations league matches against greece and the republic of ireland now at nine. the bayern munich striker says he isn't happy about it, with this the final selection made by interim boss lee carsley before thomas tuchel takes over injanuary. 0ur correspondent andy swiss

is with the squad in athens.