i'm tadhg enright. let's start with disney, whose blockbuster hits such as deadpool & wolverine and alien romulus have helped the media giant beat market expectations with its fourth quarter results. revenues at disney's entertainment unit, which includes film, television and streaming, more than doubled to $1.1 billion during july, august and september. the streaming video service, disney plus, has now got more than 122 million subscribers, exluding india. that's a gain of 4.4 million from the previous quarter. the subscriber numbers were boosted by increased efforts to crackdown on password sharing. our north america business correspondent, michelle fleury, joins us now. always worth remembering, disney accounts for so many different parts of the

entertainment industry, whether it is traditional tv, movies, streaming, and of course theme parks. what has stood out for you most of all from the set of earnings? i you most of all from the set of earnings?— earnings? i think if you look at theme — earnings? i think if you look at theme parks _ earnings? i think if you look at theme parks or _ earnings? i think if you look at theme parks or its - at theme parks or its traditional tv business, those are the side of the business that really aren't doing so well and that were more disappointing. i think the star of the show absolutely was disney plus, that streaming service, where it enjoyed a profit in the last quarter. for the second quarter in a row. i think driving that was a returned form when it comes to blockbuster movies. he mentioned the deadpool and wolverine and there was also inside out, and that has a halo effect on the ground and it helps the streaming services as well, people may go to watch disney plus —— inside out in a similar but then go to disney plus to watch the spin offs and the originalfilm. i think

plus to watch the spin offs and the original film. i think that is what has propelled the share price forward. i was looking a short while ago and it was still up 7%. short while ago and it was still up 796-— short while ago and it was still up 7%. short while ago and it was stillu7%.�* ,, , , , still up 7%. and disney plus is not its only — still up 7%. and disney plus is not its only streaming - still up 7%. and disney plus is| not its only streaming service. it has others as well is up as an empire, how does it stand next to what many people regard as the king of streamers, the original streamer, as the king of streamers, the originalstreamer, netflix? i original streamer, netflix? i think netflix is still the king of streamers as you say. i think it is the dominant player that was once return those dvds by mail and now it has emerged into the streaming giant. it has a such a broad array of content. and it has an ability to generate excitement when some of its new original show is dropped and i think that is reflected in the fact when it was one of the first streamers to turn a profit. disney is proving to be the real challenger in what has been a very competitive market. you mention the fact that ed bundles disney plus with other things like hulu and also max.

that is significant because increasingly, we have seen consumers, especially under pressure from the cost of living crisis, either cancelling or pausing subsections and so when you bundle more offerings together, it creates a better deal for consumers that makes it harder, if you like, to cancel. i think thatis if you like, to cancel. i think that is also something to watch and i think that is why we are seeing more of these bundles across the streaming market at the moment. across the streaming market at the moment-— across the streaming market at the moment. michelle fleury in new york. _ the moment. michelle fleury in new york, thank _ the moment. michelle fleury in new york, thank you _ the moment. michelle fleury in new york, thank you for - the moment. michelle fleury in new york, thank you for that. l here in the uk, chancellor rachel reeves is planning what she calls the "biggest pension reform in decades" in an attempt to boost the economy. the government wants to merge the uk's 86 council pension schemes into a handful of "pension megafunds". the council pension funds currently have investments worth around £354 billion. reeves is keen for the uk to follow a similar pension model to canada and australia. in those countries, pensions of local government workers are pooled into a handful of funds, which make big

investments around the world. separately, the government also wants to set a minimum size limit on defined contribution schemes in the private sector, which manage around £800 billion of investments. faisal islam reports. after a chilly reception from some retailers to her budget tax rises, the chancellor is now in search of some fast growth in the economy. so what's this machine doing? the budget brought stability back to our economy, brought stability back to our public finances, and also created the opportunity for the uk to boost public investment in things like energy and schools and hospitals. but we need we know we need to do more to grow our economy. the chancellor was opening this london laboratory, experimenting with state—of—the art personalised immune therapies. she says successful british

companies like quell often don't get the very biggest investments needed to grow into world beaters because our pension funds are too small. she's going to force them to merge into mega funds. this is the kind of decision that will help us get access to that capital and mean that we can actually build quell therapeutics out as a meaningful, uk—based biotech. made in britain. so made in britain from the science in the first place to the founding investment to actually becoming a long term institution in the uk. so rachel reeves is still having to defend her budget tax and spend experiments, but now she wants to talk about how to grow —— the british economy with a series of big changes to pensions creating mega funds, for example. but at this precise moment, enter donald trump with his own plan that could upend the world economy as we know it. president elect trump has said every import into the us, including even from britain,

could face a 20% tax. experts say it could see a £22 billion hit to british exports. i don't think we should jump to any conclusions about what an incoming us administration will do. the uk and the us trade is worth more than £300 billion a year. that's good for britain, but also, frankly, it's good for the united states of america. you can persuade donald trump, you think? well, we have worked with a trump administration in the us before, and trade flows between the uk and the us grew during that period. i'm confident that we can work in partnership with the new trump government to ensure that those trade flows continue. so making pension funds big enough to back britain and persuading trump against a trade war are the chancellor's much—awaited big bang for growth. faisal islam, bbc news. the british luxury fashion house burberry has unveiled a transformation plan to reverse its ailing fortunes.

it plans to leverage its british heritage, positioning itself as a leader in outdoor wear, focusing on trench coats and scarves and making its bags and shoes cheaper. burberry�*s been suffering from a downturn in demand for luxury goods, particularly from china. it lost almost $67 million in the first half of the year. investors like what they're hearing with shares climbing by as much as 15%. our business reporter, vishala sri—pathma joins us now from the newsroom. tell us more. i'm not sure how much burberry you have in your wardrobe. they seem to be suggesting that british heritage sevens to do with bad weather and think coats and scarves are the future, why is that? �* , , , scarves are the future, why is that? , y , a, ., scarves are the future, why is that?�* , ., , that? burberry is famed for its trench scarves _ that? burberry is famed for its trench scarves and _ that? burberry is famed for its trench scarves and clearly - that? burberry is famed for its trench scarves and clearly the | trench scarves and clearly the

weather is not always great here in britain and so we are all often pictured with our skulls and coats out and so it has made its brand and name on that and its famous print as well. it really does say a lot about a brand, well. it really does say a lot abouta brand, if well. it really does say a lot about a brand, if it posts multibillion—dollar losses in its day and its stock price goes up. investors are clearly liking what they have had on that investor call earlier on in the morning. basically, the new ceo talked about returning to its core offering. as you say, its core offering our trench coats and scarves, which they are known for but they did venture in the last four years into handbags and shoes and thatis into handbags and shoes and that is a bit of an overcrowded market. they had to compete with hermes and lvmh, for example, and i saw their sales

affected by that.— affected by that. how much other problems _ affected by that. how much other problems that - affected by that. how much i other problems that burberry affected by that. how much - other problems that burberry is facing right now kind of permeates the entire luxury sector? . ., , permeates the entire luxury sector? . .,, ., sector? the cost of living crisis has _ sector? the cost of living crisis has really - sector? the cost of living crisis has really impacted sector? the cost of living - crisis has really impacted the luxury goods market. we have seen a slowdown in chinese consumer consumption and so that has impacted lots of luxury goods across the board. but there clearly is a structural problem at burberry because they have been dented slightly more than the other french design houses and so thatis french design houses and so that is why this core offering change is quite important and imperative to the future of burberry�*s business. it will be interesting to see if it works and the new boss, he is from michael coors and coach. he has got a designer background. hopefully he knows what he is doing. hopefully he knows what he is doinu. �* ., doing. also in the background, the italian _ doing. also in the background, the italian brand _ doing. also in the background, the italian brand montclair- doing. also in the background, the italian brand montclair are | the italian brand montclair are considering a takeover bid for

burberry. what is the latest on that? ~ ., ., ., ., that? we have not had a huge amount about _ that? we have not had a huge amount about that. _ that? we have not had a hugej amount about that. burberry's amount about that. burberry�*s shares were down 30% for that. when the share price of the company is down, it often is, in the eyes of the letters i want to take over company, it was looking attractive in terms of its fundamentals. now that has gone away. the share prices are up now and they've got these plans, we will possibly see less people interested in the company forcibly depends if his plans work. there are other issues at bay, simply offering its core, then we may see some takeover bids emerge again. thank you very much for that. in other news... meta, which owns facebook and instagram, has been hit with a fine worth $840 million by the european commission for breaking competition with its facebook marketplace classified ad service.

the commission said that marketplace automatically exposes facebook users to ads whether they wanted to see them or not, giving it had an in—built advantage over competitors. meta said it will appeal the decision. apple is facing legal action in the uk for allegedly locking lto million british customers into its icloud service and charging them "rip—off prices". consumer group which says the legal claim could result in a £3 billion payout if it is successful, equivalent to £70 per customer. apple has rejected the suggestion its practices are anti—competitive, saying users are not required to use icloud and can use alternatives. european gas prices have hit their highest level in almost a year. it's because of concerns over the continuity of supplies from russia. this after its state gas company gazprom was fined more than 200 million euro in a dispute with an austrian gas trading company. that company has warned that gazprom could retaliate by curtailing supplies. the eurozone economy grew by 0.4% in the third quarter of the year. data from eurostat show that

growth is accelerating in the countries that use the euro currency, having expanded by 0.2% in the second quarter. ireland led the pack with 2% growth but germany continues to suffer from a lacklustre economy, expanding by 0.2%. employment across the bloc also rose by 0.2%. that is your business today. stay with us on bbc news.

locking lto million british customers into its icloud apple is facing a legal claim accusing it of effectively locking lto million british customers into its icloud service and charging them "rip—off prices". consumer group which says the legal action, which it has launched, could result in a £3 billion payout if it is successful. let's speak to lisa webb, who is the consumer law expert at the which consumer group. thank you forjoining us. start by expelling why you are bringing this action? we think

that apple _ bringing this action? we think that apple has _ bringing this action? we think that apple has breached - bringing this action? we think that apple has breached uk . that apple has breached uk competition law. we think they have been doing that by having a dominant position here and actually, any organisation that has dominant position has an obligation not to use that dominance to distort the market. apple, we argue, is actually stealing their customers towards their own services, not giving their customers a choice and thereby reducing the amount of competition there actually is across the market. so for that reason, consumers are ending up overplaying for a product one actually if there was a decent competition across the market, that product would be much cheaper and there would be more choices for them. find choices for them. and can you work out _ choices for them. and can you work out how _ choices for them. and can you work out how much _ choices for them. and can you work out how much they - choices for them. and can you work out how much they are l work out how much they are overpaying because apple has rejected any of these gestures that much a their practices aren't anti—competitive. they say that many customers rely on

third—party alternatives and say it works hard to