chancellor olaf scholz�*s government loses a confidence vote in parliament deepening germany's political and economic crisis. bitcoin bull run breaks new barriers, passing the hundred and $5,000 mark for the first time as president elect trump promises something great for crypto.

and signed, sealed and delivered. the uk government approves the sale of the 500—year—old royal mail to a czech billionaire we will talk somewhat about the royal mail in just a we will talk somewhat about the royal mail injust a moment we will talk somewhat about the royal mail in just a moment but we will start this programme in germany where olaf scholz�*s coalition government has lost a vote paving the way for an election in february in the new year. german ministers voted down the minority administration led by the chancellor in a move that he himself sought as he looks to form a new majority government. the move creates a whole new layer of uncertainty for what is your�*s biggest economy, of course suffering from stagnation and industrial unrest in its particularly key automotive sector. let's talk to chris williamson, chief business... always good to talk to you. explain this, coming at a time

with the german economy, explained that economic background? it explained that economic background?— explained that economic background? it comes at a particularly _ background? it comes at a particularly bad _ background? it comes at a particularly bad time - background? it comes at a particularly bad time for i particularly bad time for germany, its economy has been struggling in recent years, especially since the ukraine war, lots of its industry it turned out was using cheap energy from russia which got cut off when the war came so suddenly had to use more expensive energy, making its goods less competitive in the international markets. at the same time, there is a lot of competition from countries such as china on the auto industry, the shift to electric vehicles has really hit hard at germany's central automotive sector, a big driving force behind the german economy so more expensive energy, big competition in one of its fiercest markets has really dented growth in the german economy. since the pandemic, the economy has only grown i.5%, it is the economy has only grown 1.5%, it is frustratingly weak so these structural issues that

the economy has been facing have been bad enough but now you have this political uncertainty. businesses don't like political uncertainty and we have this no—confidence vote in germany, that of course follows a similar vote of no confidence in germany's big neighbour france leaving their franco german heart of the eurozone really missing several beats and not able to generate an environment that the business needs to grow. given that these _ business needs to grow. given that these are _ business needs to grow. given that these are to _ business needs to grow. given that these are to such - that these are to such structural issues and an ageing population, reliance on imported energy, traditional infrastructure needing overhauling in the face of opposition from elsewhere, it is hard to see how they shake off these woes right now given the political uncertainty that needs, i would the political uncertainty that needs, iwould imagine, some long—term investment to make these economies more competitive because might also coming the other way, the threat of tariffs from the united states, the trade war with china... whoever takes these jobs at the top of these government in france and germany, they have a really big

job on their hands? it is germany, they have a really big job on their hands?— job on their hands? it is a really big _ job on their hands? it is a really big job _ job on their hands? it is a really big job and - job on their hands? it is a really big job and it - job on their hands? it is a really big job and it is - really big job and it is getting worse. data wrote today, a pmi survey, shows the growth divergence widening between the us and europe, it is a complete use different situation in the us where industry there has been given a boost by the prospect of a new government in the new year that is by all accounts going to be pro—business, looser regulations, more protectionism for us businesses. the european industry counterparts to that aren't seeing any assistance from the government so they are going to be calling on any new administrations in europe to really start to give them a hand and a coordinated effort across europe to be able to compete with the us. always aood to compete with the us. always good to talk _ compete with the us. always good to talk to _ compete with the us. always good to talk to you, - compete with the us. always good to talk to you, thank. compete with the us. always l good to talk to you, thank you, chris williamson. one of the uk's oldest businesses are set to pass into foreign ownership for the first time in its 500 year history. the royal mail — which has

been delivering post since sixteenth century — has been cleared by the uk government to be sold to a czech billionaire. in a deal worth some four and a haaf billion dollars. our business editor simonjack reports. the first owner of royal mail was henry viii. it was privatised in 2013 and its next owner will be this man, daniel kretinsky, whose companies own 27% of west ham united and 10% of sainsbury�*s. the government today said the 5.6 billion takeover will help secure royal mail's future. this will be a good deal for the uk, it will be a good deal for the workforce of the royal mail and the customers. it strengthens the protections we have, increases what was in place following the privatisation of royal mail. the conditions of the takeover into the government reserving the right to block any major moves, such as moving royal mail's hq or tax residency and workers will get a 10% share of dividends and there will be extended guarantees around future compulsory redundancies. speaking to the bbc injuly, mr kratinski also

vowed to honour to keep the one price goes anywhere universal service. first of all, as long as i'm alive, i completely exclude this, royal mail is going to be the provider of universal service obligation in the uk unconditionally, and i would say forever. but that service is already under review by regulator ofcom, which is considering reducing second class letters to every other weekday, which it's estimated could save royal mail £300 million a year. it will help a business that is losing money, missing delivery targets and racking up fines. it partly explains why unions are giving the deal their blessing. we know the status quo is not sustainable. the current board of royal mail systematically run the company into the ground, failed the customers and failed workers. what the agreement gives us extensive job security protections and radically changes the governance and business model of royal mail giving workers and unions a greater say over the direction

of the company in the future. while the price of second class stamps is regulated, first class is not and could be increased by the new owner. he plans to expand thousands of new lockers like these which he insists will offer greater efficiency and convenience. and a chance to claw back market share in the profitable parcels business which it has lost to rivals in recent years. current shareholders are expected to approve the deal due to complete by march next year. simon jack, bbc news. the federal bank is widely anticipated thatjerome powell will see in the last cuts of cost of borrowing from 2024 but it is bitcoin making the headlines again, the world leading cryptocurrency hitting fresh record highs on comments from president elect donald trump, let's talk all about this.

let's not first of all with the fed, it could be another cut before the end of the year, ritika? it before the end of the year, ritika? , ., ., ~ ~ ritika? it is looking like that, the _ ritika? it is looking like that, the fed _ ritika? it is looking like that, the fed expected | ritika? it is looking like i that, the fed expected to deliver a 0.25% cut to interest rates but what is more uncertain is its future path of interest rates so investors are going to be watching for the newly released economic projections which will be released alongside that interest rate decision and they are expecting that to be more hawkish, may be indicating they could be pauses in rate cuts ahead or at least less commitment to cutting rates than they had just a few months ago in terms of factors they will be considering. inflation, we saw the data last week, still not at that 2% target being a little stubborn, signs of a strong consumer demand as well as a surprisingly strong labour market. it was interesting, back in september, the concern seemed to be the labour market holding up instead of inflation progress, now we see that dynamic flip somewhat and the incoming president donald trump coming in and his policies, whether it

be fresh tariffs or tax cuts, and how that will impact the economy with many economists anticipating fewer rate cuts in 2025 as a result of those. find 2025 as a result of those. and another thing _ 2025 as a result of those. and another thing that _ 2025 as a result of those. and another thing that trump has been talking a lot about is bitcoin and seen as a crypto friendly president, pushing it to new heights?— friendly president, pushing it to new heights? yes, new highs, notchin: to new heights? yes, new highs, notching 106,000 _ to new heights? yes, new highs, notching 106,000 over _ to new heights? yes, new highs, notching 106,000 over the - notching106,000 over the weekend. now we have seen it come down a little since then. again, on further optimism that donald trump wants to impose a us strategic reserve for bitcoin when he takes office, we also got a further validation on bitcoin as an investment with micro—strategy, the bitcoin proxy, and software company, being included in the nasdaq 100 and company, being included in the nasdaq100 and its associated etf. so a lot of positive news around bitcoinjust etf. so a lot of positive news around bitcoin just notching record after record.- record after record. really tuickl record after record. really quickly while _ record after record. really quickly while we _ record after record. really quickly while we have - record after record. really| quickly while we have you, ritika, a big investment from

softbank, $100 billion? yes and we 'ust softbank, $100 billion? yes and we just saw _ softbank, $100 billion? yes and we just saw the _ softbank, $100 billion? yes and we just saw the ceo _ softbank, $100 billion? yes and we just saw the ceo speaking i softbank, $100 billion? yes and we just saw the ceo speaking atj we just saw the ceo speaking at trump's estate, talking about an investment in us projects over the next four years, this is the japanese internet and telecoms giant saying this could reportedly create lots of jobs, a big boom for incoming president trumper._ jobs, a big boom for incoming president trumper. ritika, good to see you. _ president trumper. ritika, good to see you, thank— president trumper. ritika, good to see you, thank you _ president trumper. ritika, good to see you, thank you very - to see you, thank you very much. that is your business today, see you soon, bye—bye.

you're watching bbc news. worth returning to that of breaking line we had a short while ago, royal sources telling the bbc the duke of york will not be joining the royalfamily the duke of york will not be joining the royal family for christmas at sandringham. prince andrew is instead expected to stay at—home in windsor palace, sources are saying they hope the duke will honourably withdraw from royal events this year to prevent being a distraction. a little earlier this afternoon, the alleged chinese spy with links to prince andrew was named after a court lifted an

order protecting his identity. the businessmen who can be identified as yang tengbo had previously only been known as h6. he was banned from the uk last week by a semi—secret national security court. mr yang, who agreed to have his anonymity lifted, said he had done nothing wrong and descriptions of him as a spy were "entirely untrue". the former conservative leader iain duncan smith has raised the case in the house of commons as an urgent question saying the h6 case was simply the tip of the iceberg.- the tip of the iceberg. yang tentbo, the tip of the iceberg. yang tengbo. h6. _ the tip of the iceberg. yang tengbo, h6, was— the tip of the iceberg. yang tengbo, h6, was in - the tip of the iceberg. yang tengbo, h6, was in fact - the tip of the iceberg. yang | tengbo, h6, was in fact not the tip of the iceberg. yang l tengbo, h6, was in fact not a lone wolf. he was one of some 40,000 members of the united works department which is the intelligence security committee report saying last year were known to government had penetrated every sector of the uk economy, spying, stealing intellectual property, influencing and shaping our institutions. we don't know that our agents now are frustrated by lack of action,

as they say, but they don't seem to have the tools they need to deal with this and one of those is staring us in the face. will the government to commit to putting china now in the enhanced tea of the foreign influence relations scheme and will they do it now, no more delay? there is no need for delay. in delay? there is no need for dela . , , ., delay. in response, the home office minister _ delay. in response, the home office minister said _ delay. in response, the home office minister said the - office minister said the government has been working hard on the roll out of a crucial part of the national security act, the foreign influence registration scheme. we plan to lay the regulations that underpin the scheme early in the _ that underpin the scheme early in the new year ahead of the scheme _ in the new year ahead of the scheme going live in the summer. as we have previously committed, we will provide three — committed, we will provide three months' notice of the scheme _ three months' notice of the scheme go live date to enable all of — scheme go live date to enable all of those who will be affected by it adequate time to prepare — affected by it adequate time to prepare. i think it is also worlh— prepare. i think it is also worth me making the point, mr speaker, — worth me making the point, mr speaker, that the scheme will be underpinned by an it solution consisting of a registration platform, case management system and online public—

management system and online public register. the it programme developed under the