china has released a fresh round of economic indicators. house prices have fallen 5.7% year—on—year in november, highlighting a continued struggle in the property sector. meanwhile, retail sales data for november shows an uptick of 3%, and that is lower than estimates. china is still on track to achieve its growth targets for the year. when it comes to stimulus, economist alicia garcia is not convinced the latest measures have been enough to boost growth in the world number two economy. we did see an _ world number two economy. - did see an improvement in october but that was basically well affected, meaning the stimulus started to be announced, that was the centre bank first but 4 september we had a golden week, everything was perfect, the stock market booming but it actually corrected when we realised that

it would not be consumption based. that is why the data is again much poorer than october because what they did on 8 november, the national people's progress, was announced 10 trillion to clean up that, not stimulate consumption, that is why the data is what it is. leaders must have been getting advice all year, we have been reporting the significant downturn. why do you think it took so long to bring in those stimulus measures?- took so long to bring in those stimulus measures? they are not necessarily _ stimulus measures? they are not necessarily geared _ stimulus measures? they are not necessarily geared towards - necessarily geared towards consumption and you are right, thatis consumption and you are right, that is what everyone is saying china should do, so why, that is the question. first things comes first, this financial stimulus in china, that is, if i were also in the mpc, much more urgent, that is why the first thing the announced was to clean up the head in debt. the banks are involved, they

have been lending to local government through the financial vehicles, government through the financialvehicles, meaning government through the financial vehicles, meaning to shadow that, and if they do not get those loans back, they are in trouble, so they need to tackle that first. if it is in about china's debt being around 100% of gdp, there was not much more money left unless you take a bigger risk on that, and that is where the party is a bit hesitant. is where the party is a bit hesitant-— hesitant. the highly anticipated - hesitant. the highly anticipated vote - hesitant. the highly anticipated vote to l hesitant. the highly - anticipated vote to impeach president yoon pass on saturday, the proceedings have now begun in the last hour the ruling party leader has stepped down. all this comes after the controversial martial law declaration nearly two weeks ago. james kim from the american chamber of commerce in korea believes that these uncertainty is not a cause for concern for investors and businesses just yet.

businesses “ust yet. obviously on businesses just yet. obviously on saturday — businesses just yet. obviously on saturday the _ businesses just yet. obviously on saturday the people - businesses just yet. obviously on saturday the people have l on saturday the people have spoken. the national assembly fully supported this motion of the people. and i really believe that as we decouple the politics from this, i think korea has achieved today. obviously the acting president han duck—soo has significant experience, he is bipartisan, and i believe during this process he will help guide the country to proper confidence and will really help us guide the country to the next steps. the volatility must have impacted your members as have the union strikes ever since the crisis a couple of weeks ago. what are you telling your members? how much of an opportunity does south korea still have giving everything that has happened? we actually came in with

the deputy prime minister along with a few other chamber heads and we all told senior government officials that our members are not fazed by some of the concerns that are under way. we have talked about decoupling politics, and as business people which is focused on what we do best, which is to do business and let the politicians worry about the future later. i have a meeting with a party leader today and we will instill the same confidence about business and we are focused on both in the short, mid and long—term. there is a big question around president—elect trump coming in and how south korea positions itself as a united front. how do you expect interim leaders to negotiate with the new administration? the way i look at it, again, decoupling business from politics is very important. under trump 2.0, there is concern about the trade

deficit, it is going from 20 billion to 50 billion. that said a lot has also changed, companies have invested over $140 billion in investments in the us. it is now the largest us investor and also creates the largest investor in the us, and the us and korea as well. i think that under donald trump 2.0 because the commitments that korean companies have made, i think he will look at korea favourably. under the donald trump 1.0, i met with him twice, and i know that he reveres korean companies in the us and he sees a lot of opportunities there. there are other day—to—day business needs and investment as you mentioned but there was also the threat of tariffs from donald trump 2.0. how do you plan to navigate those especially with everything that has been going

on? the way i look at it is obviously the trade deficit is a concern but it is a great opportunity for american companies to do more business in korea whether it is semiconductor companies, and because of that i believe that many of these us companies will have great opportunities in korea. i also think that as we have so many companies investing in america, i believe that with all the red states have these great investments whether tennessee, georgia, alabama, these states like indiana, they have all benefited greatly from these korean companies. i really believe that because it is a complicated relationship, i think that the fact that companies are in business so much is a special asset. bitcoin has hit a new milestone, climbing above $106,000 for the first time. the digital currency has been on a tear since november, following donald trump's

us election victory. australia's corporate regulator is suing hsbc australia over failing to protect its customers when it comes to scams. it alleges the bank did not have adequate controls to detect unauthorised payments, and also is being accused of being slow to investigate customer reports of such transactions, resulting in more than $40 million in losses for customers between 2020 and 202a. the parent company of britain's royal mail, one of the world's oldest postal services, is to be sold to the czech billionaire daniel kretinsky. the deal, approved by the uk government and trade unions, is expected to be announced later on monday. the british government will retain a so—called golden share, meaning it would have to approve any major changes to royal mail's ownership. flash floods struck spain in

october killing more than 220 people and causing enormous damage to infrastructure, homes and businesses. the mediterranean region of valencia or the brunt of the tragedy and is now trying to translation: all my life working and for what of l translation: all my life | working and for what of the valencia or the brunt of the tragedy and is now trying to recover and rebuild the recover and rebuild the economy. the bbc reports from economy. the bbc reports from the region. the worst natural the region. the worst natural disaster in eastern spain in disaster in eastern spain in living memory. it destroyed living memory. it destroyed both lives and livelihoods. both lives and livelihoods. working and for what? - pascal's family has made pascal's family has made chocolate for more than a chocolate for more than a century but in just a few hours century but in just a few hours the business was destroyed as the business was destroyed as his machinery was submerged in his machinery was submerged in water. now he says he is too water. now he says he is too old to start again. old to start again. translation: �* , translation: �* , translation: all my life workinu translation: all my life working and _ translation: all my life working and for— translation: all my life workinu translation: all my life working and _ translation: all my life working and for— translation: all my life translation: all my life working and for what? -

translation: all my life - working and for what? nearly 50,000 businesses _ working and for what? nearly 50,000 businesses suffer - working and for what? nearly| 50,000 businesses suffer the impact of the flooding with the industrial belt surrounding valencia particularly affected.

replace their vehicles. businesses and self—employed workers will also benefit with compensation for damage caused to homes and corporate premises. the furlough scheme is also in place. but some are not convinced. translation: i think the official financial aid is badly managed, around 30% of businesses affected will not open again.— not open again. that is all for now, not open again. that is all for now. stay _ not open again. that is all for now, stay with _ not open again. that is all for now, stay with us _ not open again. that is all for now, stay with us on - not open again. that is all for now, stay with us on bbc - not open again. that is all for. now, stay with us on bbc news.

hello and welcome to sportsday. pressure on pep as united beat city with a last gasp winner in the manchester derby. celtic claim the scottish league cup title after a hectic 90 minutes extra time plus a penalty shoot—out against rangers. and we meet the british olympic

champion rower who's recycling her used kit in a bid to cut down on waste. hello and welcome along to the programme. lots to get through, and we'll start with a fascinating manchester derby in the english premier league with a dramatic final few minutes giving manchester united victory. josko gvadiol had given manchester city a first—half lead, but united hit back with two goals in two minutes right at the end of the game at the etihad stadim. the first a penalty scored by bruno fernandes, the second from amad diallo to complete the turnaround and give the new united manager ruben amorim an important derby win. we were in the game for 90 minutes and that is very good, and ifeel today they believe it. we talk about the arsenal game, we were playing well in the first half, but i felt that they were not believing