china's growth concerns persist as november's retail sales miss expectations. proceedings begin in south korea, after lawmakers voted to impeach president yoon suk yeol. hello and welcome to business today. i'm suranjana tewari. china released a fresh round of economic indicators house prices fell 5.7%

year—on—year in november, house prices fell 5.7% year—c a -year in november, house prices fell 5.7% year—c a consumption nber, house prices fell 5.7% year—c a consumption based not be a consumption based stimulus. and that is why november data is again much poorer than october because what they did on november eight, the national people's

congress was really to announce 10 trillion rmb to clean it up, not reallyjust stimulus not really just stimulus consumption. that's why the data is where it is.— data is where it is. leaders must have _ data is where it is. leaders must have been _ data is where it is. leaders must have been getting . data is where it is. leaders - must have been getting advice all year and we've been reporting china's downturn significantly. why do you think it took so long for the stimulus measures? , , stimulus measures? the stimulus measures were — stimulus measures? the stimulus measures were not _ stimulus measures? the stimulus measures were not geared - measures were not geared towards consumption and that is what everybody is saying we should do. so that is the question of why. so i think first things come first. there is a financial stability problem with china, and that is, i guess, problem with china, and that is, iguess, if problem with china, and that is, i guess, ifi problem with china, and that is, i guess, if i were also in the npc, much more urgent. that is why it was first announced the 10 trillion to clean up the debt. why, because the banks are involved. they've been lending to local government through the financial vehicles, meaning shadow debt. and if they don't get those loans back, you know, they'd be in trouble. so they need to tackle these things first. and i think

that if you think about china's debt being around 100% of gdp, there's not much more money left unless you take bigger risks on your indebtedness. and that's where, i think, the party is a little bit he is had looking forward to next year. do you think that 5% growth is achievable? and if so, what recommendations would you give leaders to try to achieve it? well, i wouldn't... leaders to try to achieve it? well, iwouldn�*t... certainly not put the growth target as high as 5%, because we all know that china is in a structural deacceleration. as by the way any country with 10,000 per capita moving forward, because thatis capita moving forward, because that is how developed economies behave. then don't grow at 5% every year. but i do fear that that will be the target again — 5%. so that means that china would really need to push the accelerator possibly with more stimulus and debt. and i think that china just needs to accept that china just needs to accept that growth will come down as it becomes more developed. bitcoin has hit

a new milestone, climbing above $106,000 for the first time earlier today. the digital currency has been on a tear since november, following donald trump's election victory. the incoming us president is seen to be crypto—friendly and is expected to improve the regulatory environment for the industry in 2025. over to south korea where the highly anticipated vote to impeach president yoon seok yeol passed on saturday. impeachment proceedings have now begun, and in the last hour the ruling party's leader han dong—hoon has stepped down. all this comes after yoon�*s controversial martial law declaration nearly two weeks ago. but james kim from the the american chamber of commerce in korea believes this uncertainty is not a cause for concern for investors and businesses just yet. obviously, 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 the business side, i think that korea is in a very, very good place today. obviously, the acting president had significant experience and is bipartisan. i believe that during this process, he would help to guide the country to proper confidence and would really help us to guide the country to the next steps. the korean wan — country to the next steps. the korean wan and _ country to the next steps. the korean wan and the _ country to the next steps. the korean wan and 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 is south korea still given everything that happened? we korea still given everything that happened? korea still given everything thathauened? . , that happened? we actually went in with the deputy _ that happened? we actually went in with the deputy prime - in with the deputy prime minister and the two other chamber heads. we all told the senior government officials that our members are not phased by some of the concerns that

are under way. we are talking about decoupling politics from business. and as business people, we should focus on what we do best, which is to do business and let the politicians worry about the future. in fact, i politicians worry about the future. infact, i have politicians worry about the future. in fact, i have a meeting with the party leader later today and we're going to instil the same sort of confidence about business and that we are focused on both mid— and long—term. in other news. australia's corporate regulator is suing hsbc australia over failing to protect its customers when it comes to scams. according to the watchdog, the bank didn't have adequate controls to detect unauthorized payments. they are also being accused of being slow to investigate customer reports of such transactions, resulting in more $14 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. in late october, flash floods struck eastern spain, killing more than 220 people and causing enormous damage to infrastructure, homes and businesses. the mediterranean region of valencia bore the brunt of the tragedy and is now trying to recover and rebuild its economy. the bbc�*s guy hedgecoe reports from the region. the worst natural disaster in eastern spain in living memory. it destroyed both lives and livelihoods. pascal's family has made chocolate for more than a century but in just a few hours the business was destroyed as his machinery was

submerged in water. now he says he is too old to start again. translation: all my life working and for what? - nearly 50,000 businesses suffer the impact of the flooding with the industrial belt surrounding valencia particularly affected. some businesses have reopened but only partially, like the electrical deletion company that this woman and her husband run on this industrial estate. the flooding destroyed 40,000 euros worth of equipment. translation: we were i immediately affected 10096 because we lost our tools and vehicles. now more than a month later we are working a 10% of our capacity.

among the material damage caused by the flooding were more than 100,000 cars that were washed away. in the month after the disaster struck, the central government announced around 17 billion euros in age, much of it aimed to help the owners of cars 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 i aid is badly managed, around 30% of businesses affected will not open again. it's not just it's notjust urban areas affected. farms were too. this

area produces fruit and a farmer's association estimated that the losses in terms of infrastructure, machinery and crops total well over a billion euros. translation: farmers always say — next year, things will get better. but right now, the mood among farmers is very pessimistic. in order to get things back to how they were before, it's going to take two or three years. the people of valencia are angry at what they see as the mishandling of this natural disaster by the authorities. chanting they are desperately hoping the region's recovery will be a different story. the founder of fashion chain mango — isac andic — passed away on saturday following the 71—year old billionaire reportedly fell down a ravine while hiking in caves in the region.

the current chief executive of mango — tony ruiz — expressed his condolonces in a statement and that's it for this edition of business today. thanks for watching.

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