and is the royal mail close to a sale — we'll get the latest news there may be a potential deal within weeks from our business editor. welcome to business today, i'm mark lobel. the head of the european central bank christine lagarde has urged european leaders to buy american products and work with the trump administration to avoid a trade war. lagarde warned any tit—for—tat tariffs are likely to have detrimental on the global economy. speaking to the finanical times, lagarde added the eu should buy certain american products such as liquefied natural gas and defence equipment. earlier i spoke to gervais williams, who's the head of equities at premier mytun and he believes the us holds all the cards when it comes to future trade talks. i think specifically we are seeing the us economy growing

quite happily at the moment. it has been a sustainable growing economy. in europe and parts of asia we have seen very little growth and if anything we are veering towards deflationary pressures which are quite dangerous. ultimately we need to offset that in europe by continuing to trade globally with other players, particularly the us. she is adapting _ particularly the us. she is adapting a _ particularly the us. she is adopting a cheque-book. particularly the us. she is - adopting a cheque-book strategy adopting a cheque—book strategy of certain purchases of us exports but does she have enough time to make that work? is it realistic before donald trump start? i is it realistic before donald trump start?— is it realistic before donald trump start? i don't think it will happen _ trump start? i don't think it will happen before - trump start? i don't think it will happen before donald l will happen before donald trompe starts. he has his own agenda and he is putting on tariffs on mexico and canada. i think that's a negotiating position. there will be a negotiating position with the eu. from that point of view our negotiating position is weaker and lagarde is trying to get in ahead and see if we can step up

with defence equipment or energy, for example. mexico is nettina energy, for example. mexico is caettin in energy, for example. mexico is getting in on — energy, for example. mexico is getting in on the _ energy, for example. mexico is getting in on the act _ energy, for example. mexico is getting in on the act as - energy, for example. mexico is getting in on the act as well. i getting in on the act as well. they have said 400,000 us jobs could be at risk in the supply chain of those hefty tariffs come in and affect them too. do you think that is likely to affect and bring the us administration to heal? i think it's obviously _ administration to heal? i think it's obviously a _ administration to heal? i think it's obviously a slightly - it's obviously a slightly relevant factor but if elon musk is able to reduce the underlying budget deficit by one or 2 trillion, which seems like an enormous figure, that we an awful lot of unemployment created by that. in terms of additional investments i think there will be an awful lot of employment created which will offset some of the deportations. whilst i think it is an issue i don't think it is going to make big difference. and the approach the eu are taking, do you think that you could learn any lessons from that? , ., , ., that? the uk is in an unusual position- _ that? the uk is in an unusual position- it — that? the uk is in an unusual position. it can _ that? the uk is in an unusual position. it can side - that? the uk is in an unusual position. it can side with - that? the uk is in an unusual position. it can side with the | position. it can side with the eu, and if the eu doesn't

negotiate well with trump then it will get tariffs alongside with the eu, of the uk can actually choose to be much more closely aligned with the trump regime, in which case perhaps we will be less vulnerable to terrorists. forthe we will be less vulnerable to terrorists. for the uk leadership to decide one way or the other and that is where we are at this time. hong kong is planning to exempt private hedge funds and investment vehicles of the super—rich from paying tax on cryptocurrency gains, as it aims to become one of the world's leading crypto centres. cryptocurrencies have surged since donald trump's election win, with the president—elect a firm backer of crypto and planning to ramp up the country's involvement in the digital currency world. joining me now is glen goodman, an expert in crypto currency and author of the crypto trader. just tell me, people can buy crypto just on their phones, anywhere in the world. how will this work?—

this work? the idea here is that it's — this work? the idea here is that it's basically _ this work? the idea here is that it's basically a - this work? the idea here is that it's basically a tax - this work? the idea here isj that it's basically a tax gain for the super—rich. there is no other way of putting it! it is aimed at the ultra wealthy. from what we hear, and this is all according to report from the financial times who have seen some secret document, it would seem, the idea is that it would seem, the idea is that it would exempt super—rich individuals from paying tax on their crypto gains. i think the eu would have a thing or two to say about this because it is only very recently that the eu took hong kong off its watchlist for, the naughty boy list, a watchlist for possible tax havens. and it was lumped in with a lot of tiny little islands that are tax havens and was taken off the list this year. but i wonder what they will make of this because it does pose a few questions about whether they are trying a

little too hard in hong kong to be tax competitive. iliiuiith little too hard in hong kong to be tax competitive. with crypto generally. _ be tax competitive. with crypto generally. you _ be tax competitive. with crypto generally, you don't _ be tax competitive. with crypto generally, you don't know- generally, you don't know whether it will be income tax or capital tax. you don't know whether assets will disappear overnight. how much are these big firms and investment vehicles risking on it? and do you think this kind of move will change that?— will change that? they are riskin: will change that? they are risking more _ will change that? they are risking more and - will change that? they are risking more and more - will change that? they are risking more and more atl will change that? they are i risking more and more at the moment and i think this move will encourage lots of the big crypto investors and crypto companies to possibly move theirjurisdiction to hong kong in order to avoid all the tax on crypto gains. the weird thing is that crypto used to be the person that nobody wanted to go on a date with. you had china banning crypto trading a few years ago. they had the us regulators constantly bringing regulators constantly bringing regulators against crypto companies. now it is like crypto has had a glow up. everyone wants to date crypto now. trump wants to make crypto, oramerican now. trump wants to make crypto, or american the crypto capital of the world. and you

have hong kong bringing in, possibly bringing in these new tax benefits. bear in mind, china was very hostile to crypto for a very long time so i see this is really significant. they are all vying with each other for who can host the future, as they see it. they see the crypto industry is the future and all these countries want to be a big part of it. these countries want to be a big part of it— these countries want to be a big part of it. who are the big competitors _ big part of it. who are the big competitors that _ big part of it. who are the big competitors that hong - big part of it. who are the big competitors that hong kong | big part of it. who are the big| competitors that hong kong is trying to steal business from in this way? and i do have to ask you — is the current crypto search sustainable? i ask you - is the current crypto search sustainable?— search sustainable? i think this is part _ search sustainable? i think this is part of _ search sustainable? i think this is part of the - search sustainable? i think this is part of the america | search sustainable? i think| this is part of the america - this is part of the america — china trade war in a way. it is a little bit of a sideshow compared to massive tariffs on all the rest of it. but i think it is part of that competition between america and china for who is going to lead the world in the 2ist—century. and what does this mean for crypto prices? so far, since trump's election, it has been going one way. we have had notjust

bitcoin but other crypto currencies that might benefit from a more relaxed regulatory regime. we have seen the departure of the hated sec regulator in the united states and the whole crypto industry hated him because he was tough on them. but now he has said he is going to go because basically dropped into push and if he didn't go. no doubt trump will appoint a regulator that is much more sympathetic to crypto. the pricesjust keep going up. they have gone up a long way though so they are having a bit of a bit of a correction downwards. that may continue further but it remains to be seen what trump does. author of the crypto trader, thank you. here in the uk, the sale of one of the crown jewels of daily life here — the royal mail — looks close to completion. czech billionaire daniel kretinsky�*s ep group could snap it up in the next two weeks, according to sources close to the deal. mr kretinsky has agreed to make extra concessions in order to clinch the takeover. i spoke to the bbc�*s business

editor simonjack for more. will be signed off under the auspices of the national security and investment act when you have any critical infrastructure and this certainly qualifies. but i am told that is very close to happening and also pointed out to me that when daniel kretinsky, who was already the biggest shareholder up to stake there was a review done of his alleged link to russia. he owns alleged link to russia. he owns a pipeline which does transports on russian gas into the eu, with the approval of the eu, with the approval of the eu, with the approval of the eu, and he doesn't buy the gas. hejust owns the eu, and he doesn't buy the gas. he just owns the pipeline. but that is very close to being signed off. the other thing was that he made a series of concessions, a series of promises, not to change the brand. it has been around since the reign of henry viii, keep its uk tax headquarters here and no compulsory redundancies until 2025. what i understand, which moves this closer to the

finish line, it's something called a deed of arrangements— a series of extra concessions which may involve extending the term of some of those guarantees. it is not a done dealjust yet guarantees. it is not a done deal just yet but guarantees. it is not a done dealjust yet but he is closing in on it. ., _ dealjust yet but he is closing in on it. ., , dealjust yet but he is closing inonit. ., in on it. you say he is closing in on it. you say he is closing in on it. you say he is closing in on it- _ in on it. you say he is closing in on it. daniel— in on it. you say he is closing in on it. daniel kretinsky - in on it. you say he is closing in on it. daniel kretinsky is l in on it. you say he is closing in on it. daniel kretinsky is a| in on it. daniel kretinsky is a key figure in the steel. who is he who shall he made his fortune in oil and gas sector across europe. he owns 27% of west ham football club. he owns 10% of sainsbury�*s. he is a smooth, calm operator. i have met him a couple times, with a clinical eye for a deal. he made a fortune in oil and gas and is looking to deploy that. i think what he is going to do with royal mail is make some changes to the way the service works. there is a regulatory review on how often let us have to be delivered. second class letters may be delivered only every other day rather than everyday. but he says he is committed to whatever royal mail is required by the

regulator to do. americans at home and abroad will be tucking into their thanksgiving dinners later today without the steep rises in food prices consumers have had to cope with in previous years. a key measure of consumer inflation ticked up to 2.3% in the year to october — a bit higher than expected — but still close to the federal reserve's 2% target. michelle fleury has more. the good news — the average cost of a thanksgiving dinner has dropped 5%, with walmart and ld offering even lower prices. walmart inflationary meal and audi's freejennifer meal and audi's free jennifer under $47 meal and audi's freejennifer under $47 harks back to pre—biden pricing. at these low prices don't tell the whole story. while food prices have risen, blaming president biden alone is too simple. global supply chain issues, the war in

ukraine and rising energy costs also play a role. there was also play a role. there was also greed inflation where companies raise prices to boost profit. despite donald trump's promised to lower grocery costs economist won his policies could worsen inflation. for example his latest threat to impose sweeping tariffs on mexico along with canada and china would make food imports to the us's biggest supplier of produce even more expensive. however these price cuts reminders that while presidents often bear the blame for rising prices, it is companies that determine what consumers pay. in other news... uber is facing an investigation by the us federal trade commission into its recent subscription plan. the us consumer watchdog has been probing the ride—hailing giant over the enrolment and cancellation procedures of the service. the ftc contacted uber with a proposal for settling the investigation, but no agreement has been reached yet.

typhoo tea has fallen into administration as the i20—year—old brand's sales slump and debts rise. advisory firm kroll has been appointed to handle the administration and find a buyerfor the tea business. typhoo has been trying to turn itself around for some time, but it suffered a setback after trespassers damaged its former factory in merseyside last year. stay with us here on bbc news.

you are watching bbc news. in ireland, leaders of the main parties are in a final push for voters ahead of tomorrow's general election. my colleague caitriona perry is in tullamore. a lot of young people in ireland, when they get qualified or get old enough

they are going to australia, new zealand, and i know myself i probably will end up doing that as well. just for the experiences, just go and see the world as well. a lot of young people end up moving abroad to change their lifestyle, betterjobs. find abroad to change their lifestyle, betterjobs. lifestyle, better “obs. and you are livin: lifestyle, better “obs. and you living at — lifestyle, betterjobs. and you are living at home. would - lifestyle, betterjobs. and you are living at home. would youj are living at home. would you like to be able to move out? is not a realistic option? i like to be able to move out? is not a realistic option?- not a realistic option? i would like to be _ not a realistic option? i would like to be able _ not a realistic option? i would like to be able to _ not a realistic option? i would like to be able to move - not a realistic option? i would like to be able to move out. l like to be able to move out. when i'm qualified and i have my degree and when i am starting my own life i'd like to move. starting my own life i'd like to move-— starting my own life i'd like to move. �* ., ., ., ., to move. and hear a lot about the cost of — to move. and hear a lot about the cost of housing, _ to move. and hear a lot about the cost of housing, the - to move. and hear a lot about the cost of housing, the cost i the cost of housing, the cost of rents, is it an option for you now?— of rents, is it an option for ou now? ., ., ., you now? now? know. i live at home and _ you now? now? know. i live at home and i— you now? now? know. i live at home and i would _ you now? now? know. i live at home and i would never- you now? now? know. i live at home and i would never be - you now? now? know. i live at| home and i would never be able to do it myself, buy a house or rent a house, now or even in

two or three years' time.