retail the last 30 minutes. retail sales in october came in better than expected, rising 4.8% year—on—year. it wasn't as rosy on the industrial production front with october's prince coming injuly of estimates. a similar story for housing, with home prices falling for the 16th straight month. the country's statistics bureau saying while the economy has shown a significant recovery in the last month the global environment remains complex. we weighed in on whether beijing needs to do more to support the world's second—largest economy. i think that is where a lot of of the concern and the weakness in the chinese coming from, it is that deeper and more prolonged correction in the property market. we need to remember that chinese households have a lot of their wealth identity property market so we're seeing forward indicators like housing sales and investment remaining week and investment remaining week and we are expecting house prices to continue to contract on an annual basis right through the remainder of this

year and through most of next year, unfortunately full so no turnaround in the property market at this point.- turnaround in the property market at this point. now the donald trump's _ market at this point. now the donald trump's return - market at this point. now the donald trump's return to - market at this point. now the donald trump's return to the | donald trump's return to the white house is a certainty, we likely to see any adjustments made or changes in china's strategy?— strategy? that is really the million dollar _ strategy? that is really the million dollar question - strategy? that is really the million dollar question at l strategy? that is really the i million dollar question at this point. everyone's eyes are clearly fixated on donald trump and when we are going to get clarity on his policy priorities and agenda when he is in the white house. there have been a lot of things he has said on the campaign trail and we want to know exactly what is going to be implemented. we know already that china is a focus area of the republicans for the next couple of years. that clarity will really be important. if china is hit hard with tariffs then they will of course release more stimulus to support domestic demand and hopefully that can knock completely offset but improved conditions were china innismore

tumultuous period.— tumultuous period. turns the us, tumultuous period. turns the us. where — tumultuous period. turns the us, where jerome _ tumultuous period. turns the us, where jerome taylor -- l us, wherejerome taylor —— jerome powell is sounding optimistic about the reasonableness of the economy, than policymakers can now take the time when it comes to lowering interest rates. a north america business correspondent has the details added dallas federal reserve event. , added dallas federal reserve event. ., . ., event. robust economic growth, a solid job _ event. robust economic growth, a solid job market, _ event. robust economic growth, a solid job market, and - a solid job market, and inflation that is trending towards target means the us central bank doesn't need to rush to lower interest rates. that is according to federal reserve chairjerome powell. speaking at a dalysford event he said us economy has been "remarkably good" and he sees inflation on is imposed on the above was the 2% target. us central bank is began lowering borrowing costs back in september with a .5 percentage point cut and lowered the policy rate by nehra 0.25 last week. they signalled a willingness to cut rates further so long as inflation continues to slow. data out earlier this week showed a measure of us inflation

remained steady in october. the so—called core consumer price index, which excludes food and energy costs, increase 013% for third month. he did not comment on the possibility of a at the december meeting, though markets have priced in a 70% quality of a 00.25% reduction. the future path of monetary policy could be more uncertain next year if president—elect donald trump fulfils his campaign promises to cut taxes, restrain immigration, and deploy tariffs.— deploy tariffs. disney's quarterly _ deploy tariffs. disney's quarterly earnings - deploy tariffs. disney's quarterly earnings thatj deploy tariffs. disney's - quarterly earnings that came in over estimates lead largely by 40% jump in over estimates lead largely by a0%jump in revenue added entertainment division. the segment, which accounts for streaming traditional films and tv raked in over $10.8 billion driven largely by our summer box of the season. disney raises guidance for the year ahead sending a stock of over 10% on wall street. us presidentjoe biden and china's present xijinping presidentjoe biden and china's present xi jinping around peru for the asia—pacific economic

cooperation forum. that's where leaders representing around two—thirds of the global economy are gathering. the chinese president has already inaugurated a new billion—dollar mega port in the country that will help build a new trade corridor between china and latin america. there is an elephant in the room, president—elect donald trump who doesn't take office until january. nick marsh has been looking at what this year's summit may bring. 50 looking at what this year's summit may bring. so much has chanced summit may bring. so much has changed since _ summit may bring. so much has changed since president - summit may bring. so much has changed since president xi - summit may bring. so much has changed since president xi and l changed since president xi and biden last met. a year ago it was a meeting of two heavyweights with the power to shape the world economy. this time it will be a little more than a good buy. as apec braces itself for trump 2.0, this is an opportunity for beijing to set the tone before he takes office. ~ , ., ., office. when elsie going to have this _ office. when elsie going to have this group, _ office. when elsie going to have this group, the - office. when elsie going to have this group, the other| office. when elsie going to i have this group, the other is not for— have this group, the other is not for another year. so this would — not for another year. so this would actually be a very good opportunity for the chinese team — opportunity for the chinese team as _

opportunity for the chinese team as a whole to have that connection as well.- team as a whole to have that connection as well. during his first term. — connection as well. during his first term, trump _ connection as well. during his first term, trump place - connection as well. during hisj first term, trump place tariffs on more than $300 billion worth of chinese goods. biden kept them in place as well, by the way, he was pretty tough on china, in some cases even tougher. the thing is, trump will probably go even further than that. so if you are an asia—pacific country what is going to happen? is there going to be an influx of cheap chinese made goods coming into your market because they can be sold to america? or a chinese company is going to invest in manufacturing in your country to try and get around those tariffs? we don't know. but either way the reality is that china is a much bigger trading partner already for these countries than the us is and tariffs may make that situation even worse for america. we've seen incredible, _ even worse for america. we've seen incredible, you _ even worse for america. we've seen incredible, you know, - seen incredible, you know, changes— seen incredible, you know, changes in us positions that would — changes in us positions that would have been unthinkable in the past — would have been unthinkable in the past happening now. so the us is— the past happening now. so the

us is definitely less reliable, a lot more uncertainty, a lot more — a lot more uncertainty, a lot more risk— a lot more uncertainty, a lot more risk attached to trading with— more risk attached to trading with the _ more risk attached to trading with the united states. we've already— with the united states. we've already seen firms across the region— already seen firms across the region for— already seen firms across the region for sure who are thinking _ region for sure who are thinking twice about do i wants the us— thinking twice about do i wants the us to — thinking twice about do i wants the us to remain a market for my products?— the us to remain a market for my products? some people have even said that _ my products? some people have even said that this _ my products? some people have even said that this could - my products? some people have even said that this could be - even said that this could be the last appearance of the us president as apec for quite some time because, frankly, donald trump does not really believe in multilateral treaties and international trade blocks. his philosophy is america first which, by extension, means everyone else second. how exactly apec is going to negotiate this, how the world economy is going to negotiate this for the next two years is anyone's guess. in recent months some of the uk's high—end food producers have fallen foul of a scam. customers pretending to place orders for a french supermarket have collected and disappeared without pain. there are reports the food is heading to russia where sanctions have prevented

the sale of european luxury items, including food. the first example came to light from a cheese order with $400,000. my colleague caught up $400,000. my colleague caught up with the owner of the uk dairy business.— dairy business. i've got an e-mail early _ dairy business. i've got an e-mail early august - dairy business. i've got an e-mail early august from | e—mail early august from someone pretending to be the buyerfor someone pretending to be the buyer for a someone pretending to be the buyerfor a french someone pretending to be the buyer for a french supermarket at. he said that he had heard of our product in the french market and it had a good reputation, which seemed relatively plausible, and he wanted substantial quantities of smoked salmon supplied as a frozen line. i had a quick look at the range that that supermarket was offering and i thought that seems like a fit, actually, and because it was frozen we were able then to produce in stages and it was doable, so i said, yeah, think we can do this. the stock value to us was £28,500, roughly, it was a considerable order. and because we were not organising transport and we when having to do all the customs paperwork and pay all the customs agency

charges it was a really good bit of business for us. but obviously too good to be true. the penny dropped for me on friday 11 october. i said when are we going to be paid, because we need that because —— before we release the second one and the e—mail came back and said we will pay for the first order and the second order together when the second order together when the second order is released. i can tested this. i said this is not what we agreed. and i thought that doesn't really sound like a supermarket, that doesn't sound credible. it in was then the next day i started to do more digging and realised that these people were fraudsters and they had been conned. i've felt incredibly embarrassed, ashamed, gutted for everybody here, because everybody was super excited. you know, we'd really, really worked so hard to make sure we could do this and do it properly. the amount of care that had gone into es sider, quality control, making sure everything had the perfect colour, perfect tram. there is

a lot of love in our product. obviously the staff knew that this wasn't going to happen. i've felt physically sick, literally, for a could leave, couldn't sleep, and everybody here was very, very distressed. it is a huge hit financially and, you know, in terms of your morale. it's really difficult. we are now bouncing back. we got some distance on it. we've got some distance on it. we've got christmas ahead, we are going to crack on, we still have legitimate orders going over to france and spain, so that's fine. but it takes a lot to recover from something that's fine. but it takes a lot to recoverfrom something like that and i said to people when you get an enquiry was comes as a straight line to you, whether through e—mail or phone, take the enquiry, look at it, but then immediately seek to verify that by going round and looking at it from a different angle. so, if for example an enquiry comes to e—mailfrom so, if for example an enquiry comes to e—mail from any supermarket or big buyer, whether it is uk or eu or abroad, then try to phone the main switchboard and asked to be put through. so don't

believe everything in the e—mail, immediately verify elsewhere. e-mail, immediately verify elsewhere.— e-mail, immediately verify elsewhere. ~ ., ., , ., , elsewhere. we have that story for talking _ elsewhere. we have that story for talking business, - elsewhere. we have that story for talking business, you - elsewhere. we have that story for talking business, you can. for talking business, you can catch the full episode on the weekend here on bbc news. they switchjoining me on business today. i will see you soon shortly. goodbye for now. you can catch the full episode over the weekend. thanks forjoining me on business today for this edition. i will see you soon again shortly. bye—bye.

hey, it's lucy with the catch up. tonight: prison corruption, more wins for trump, and silence in south korea. first tonight: the bbc has been told about prison officers dealing drugs and asking inmates for sex. a record 165 prison staff were sacked for misconduct

in the year tojune 2024 — that's an increase of 34% on the previous year. we heard from a serving prison officer who wished to remain anonymous. there's a power dynamic and prison officers feel like they can do what they want and ask them for sex. they can make life difficult for those inside, and they know that. a former governor of large prisons told the bbc that corruption is now "a greater problem than it has ever been" and blamed it on inexperienced staff, poorvetting and training. the ministry ofjustice say they are "catching more "of the small minority who break the rules "and strengthening vetting processes". republicans have won the house of representatives, giving the party full control of congress. congress passes laws in the us. that means donald trump will have a lot of power when he takes office in january. over the last few days, he's been picking his top team and today saw a pretty controversial pick, matt gaetz. he's going to be america's chief law enforcement officer. he's a loyal trump supporter but he's been facing accusations of sexual misconduct and drug use — which he denies. some other stories now. pharmacy owners in wales, northern ireland and england have voted in favour of cutting

opening hours and stopping home deliveries — that's in a protest over government funding. and a baby red panda has sadly died at edinburgh zoo. roxy is believed to have died because of stress from fireworks on bonfire night. and now ten seconds of silence. just kidding. that is what is happening in south korea as students start an exam. songs like this have been forbidden because some believe the cachin is could cause them to lose focus. that's us for tonight. have a good one. hello and welcome to sportsday. i'm jane dougall. nine players missing — no problem. england score three to beat greece in the nations league. three wins from three forjannik sinner,

who's knocked out daniil medvedev at the atp finals. and mark cavendish says he was too old for the last three years of his career. the former world champion speaks about his retirement from professional cycling. hello there. with so many players dropping out of england's squad ahead of their match against greece, there was a concern that the scoreline would be affected — that was not the case. england comfortably beat greece 3—0 with a goal from curtisjones on his debut. it leaves england top of their nations league group. andy swiss is in athens for us.

well, after england's buildup to this match had been