tv Business Today BBC News January 3, 2025 3:30am-3:45am GMT
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around 20 officers marched to his presidential residence in seoul since sam local time. the number was reinforced to 81 hour later. many of yoon�*s supporters have for days been congregating outside his residence, vowing to block his arrest and this morning is no different. he was suspended for his duties in mid—december after lawmakers voted to impeach him over a short lived declaration of martial law. the south korean court issued an arrest warrant against him which his lawyer have rejected as illegal and invalid. jay song, an honorary associate professor at the australia national university, gave us a sense of what lies ahead. it's almost a surreal situation now. i'm looking at these supporters gathering around his house and also the police, trying to go into his house and the military is actually blocking the access, and the corruption investigation office,
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they went into his residence but we have just been waiting for more than two hours to see what is happening, whether he would be arrested at the scene and what would happen after the arrest. we spoke to you a few days ago and you said an arrest was imminent. what gave you so much confidence to think this moment that we see unfolding is about to happen? that is right, three days ago the arrest warrant was issued by the court, a legal and lawful process to arrest the current president because he has been refusing to receive any investigation, refusing the whole process of the arrest and the investigation itself, that is nonsense as we all know. we have seen he has declared the martial law a month ago, actually a month exactly before today. we have seen the police coming to the national assembly to stop the process,
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stopping the interaction, the martial law. after the arrest warrant, within seven days to be executed, and tomorrow is the weekend so there will be more protests gathering around the area, so today is friday so probably the perfect day to make this as soon as possible. a crypto boss accused of being resonsible for a crisis costing investors $40 billion has pleaded not guilty to us fraud charges. do kwon was the boss of a singapore—based terraform labs that developed the terra usd and luna cryptocurrency. the collapse in 2022 sparked a wider sell—off in the market, the us prosecutor saying do kwon was responsible for the failure of the coin, accusing him of orchestrating the multibillion—dollar crypto asset security fraud.
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and official china seat planner says there is room for economic policies to support the economy. he said the company will face many difficult challenges this year. among the plans are subsidies for durable goods such as cars, appliances and funding for businesses looking to upgrade the larger scale equipment. in the us, tesla shares fell by 6% in new york after a report of its drop in annual deliveries. michelle fleury has the details. tesla delivered a record number of cars in the final three months of last year. 495,570 vehicles to be precise. but that figure was short of the number it needed to beat its 2023 full year performance. for all of 2024, tesla delivered 1.79 million vehicles worldwide. down about 1% from last year. the first time the company has
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reported this kind of drop. part of the problem is increased competition. chinese rival byd said this week said that its electric car sales grew double digits last year to about 1.76 million globally. and it is notjust chinese ev makers snapping at its heels. legacy global carmakers like gm volkswagen and hyundai are also vying for market share. tesla has responded to slowing demand for evs by cutting vehicle prices in china and the united states. elon musk has also pivoted the country to focus on robotics and artificial intelligence. that is still a way off and for now tesla remains dependent on car sales to make money. shares in tesla fell 6% on the news but it is worth noting that the stock ended 2024 up more than 60% with most of those gains coming after the us election. investors are betting that elon musk�*s closeness to donald trump will help his businesses.
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back to our top story of south korea and the political fallout happening with the ongoing arrest warrant served by police at the presidential residence for president yoon. despite the tensions, the benchmark cost indexis tensions, the benchmark cost index is trading at around 2% higher. tim waterer from kcm trade told us why investors are optimistic. it has taken the events in its stride, posting gains, there are a few reasons behind it, some we can put down to some of the festive season optimism. another could be that the investors think will be a short lived event, and then there is better things to come, perhaps in the second half of the year. the other factor is what is happening with the korean currency, that is lingering down at a 15—year low against the dollar. that is not a great indicator for the overall economy but what it does do
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is a good sign for the export sector, so the likes of samsung, sk hynek, who do rely on that export growth foreign sales, that is good news for them. the domestic investors in south korea right now are looking at the positives and focusing on that at the moment. turning a blind eye perhaps to what we see on the tv screen outside the former presidential house but it remains to be seen how long this will drag on, but overall quite a surprisingly good performance, you would have to say. this all kicked off in early december when president yoon tried to declare martial law, which really shook things up in south korea. the broader economy, a month after it happens, been numerous protesters — but the broader economy, was it impacted? so far it is too early to tell. we did see this week some manufacturing data from december.
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that did show the manufacturing sector moving into contraction below the key 50 level, so that would have caused concerns among investors about where the economy is placed right now. 0n the inflation front that is still reasonably well with inflation running at below 2%, i should say. we have seen south korean authorities downgrading their gdp forecast for 2025, so gdp growth for the year is expected to be somewhere around the 1.5% so right now the expectation is fairly low for the economy moving forward, so that is also playing into why we see enthusiasm on the stock market. there could be potential upside is based on the low expectations at the moment. one key area of concern at the moment is the foreign investors are wary of what is going on in south korea, we have seen foreign funds pulling
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out because one thing investors do not like is uncertainty, so when you have the political turmoil the investors look at the map and see there are perhaps more stable places to put their funds. so there has been an output of foreign investment in south korea so what we see is based on domestic demand in south korea. let's show you the capital of south korea. it will take you to the residence and the scenes on the streets, you can see significant police presence, buses lining up in the street as well as fire services as well, you can see protesters nearby, the year beyond this street. you can see now lined up street. you can see now lined up left to right, they are well cordoned by police and there is a significant police presence outside the presidential residence. we can update you that the legal team have been
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seen entering the presidential residence in the last few moments. his lawyer had earlier as mindi kaling and former said they would take legal suits star abigail spencer earlier moments. his lawyer had earlier said they would take legal action over the arrest warrant action over the arrest warrant that they have called illegal that they have called illegal and invalid. more on this story and invalid. more on this story and invalid. more on this story and bring more developments as and invalid. more on this story and bring more developments as they play out. they play out. sir nick clegg, the uk former sir nick clegg, the uk former deputy prime minister, deputy prime minister, is stepping down from his job is stepping down from his job as president of global as president of global affairs at facebook owner meta. affairs at facebook owner meta. he said in a post he will be he said in a post he will be leaving the tech giant leaving the tech giant after seven years, replaced byjoe kaplan, who served after seven years, replaced byjoe kaplan, who served as the deputy chief as the deputy chief of staff in the white house of staff in the white house during the george w during the george w bush administration. bush administration. joe kaplan is known joe kaplan is known for handling the relations with for handling the relations with republicans. it comes ahead of donald republicans. it comes ahead of donald trump's inauguration on 20 trump's inauguration on 20 january. january. the duchess of sussex has the duchess of sussex has announced a new show on netflix announced a new show on netflix that the streaming service that the streaming service describes as a lifestyle show describes as a lifestyle show that blends practical how—tos that blends practical how—tos and candid conversation. and candid conversation. with love meghan premieres with love meghan premieres on 15january and includes on 15january and includes eight 30—minute episodes eight 30—minute episodes with celebrities such with celebrities such as mindi kaling and former as mindi kaling and former suits star abigail spencer. suits star abigail spencer.
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hey, it's lucy with the catch up! tonight — the latest on the attack in new orleans, stormzy�*s banned from driving, and belgium says bye to disposable vapes. first, 1a people were killed and dozens were wounded when a man drove a pick—up truck into crowds of people in new orleans on new year's day. emer is going to tell us more. the driver has been named as shamsud—dinjabbar, an army veteran from texas. he was killed in a shoot—out with police and the fbi say he was acting alone. we're finding out a lot more about some of the victims, they include a former college football player, an 18—year—old aspiring nurse and a 21—year—old. and the fbi also said it had not been able to establish a definitive link between
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the new orleans attack and a cybertruck that exploded outside a trump hotel in vegas. the driver was killed and seven people were injured when it blew up just hours after the attack in new orleans. some other stories now. stormzy has been banned from driving for nine months. an off—duty police officer caught him using a phone while driving in london. he pleaded guilty. the court was told he already had six points on his licence for speeding. and is your new year's resolution to give up vaping? well, belgium's trying to do the same. it's become the first european country to ban the sale of disposable vapes. ireland and the uk are due to follow later this year. the news can be heavy sometimes, so we want to make sure to leave you with ten seconds of something lighter. some aquariums across the uk have been doing their annual stockta kes. that means they're counting more than 30,000 animals, and that also means we have these cute pictures to show you. that's us, have a good one!
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hello and welcome to sportsday. i'm tanya arnold. here's what's coming up on the program: rangers thump celtic to win the old firm derby but still trail their premiership rivals by 11 points. 17—year—old luke �*the nuke�* littler powers into the world darts final where he'll face michael van gerwen. world number two iga swiantek gets the better of katie boulter in a classic to seal poland's victory over great britain in the united cup.
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we start with football, and rangers may be trailing celtic in the scottish premiership but they got the bragging rights in the old firm derby with an emphatic 3—0 win. it was their manager phillipe clemont�*s first win in the fixture at the seventh time of asking. martin dowdon was watching. celtic enjoyed a 14—point gap heading into the fixture. the celtic manager tasted defeatjust once in 20 outings against the rangers coming into this, and the rangers manager had not beaten celtic in six attempts. it was all about to change. setting the rangers on the way, gathering it from nico and sending a crisp low shot right to the corner from 25 yards, just evading casper to the goal. they were rampant after that. next up, the cutting inside, a shoulder deflecting the defender, and striking the top of the course.
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