i'm steve lai. let's forget the united states where presidentjoe biden has just delivered his farewell address, the outgoing president want that an oligarchy is taking shape in america among a few wealthy people whom he says have amassed a dangerous concentration of power. he added that artificial intelligence needs to continue to be regulated and that the us must continue to lead the way on the technology ahead of china. ~ , . ~ on the technology ahead of china. ~ , ., ~ , on the technology ahead of china. ~ , . ~ , �* on the technology ahead of china. ~ , w , ~ , china. we must make sure ai is safe and trustworthy. _ china. we must make sure ai is safe and trustworthy. and - china. we must make sure ai is safe and trustworthy. and good| safe and trustworthy. and good for all humankind. in the age of ai, it's more important than ever that the people must govern. and as a land of liberty, america, not china, must late the well in the development of ai.- must late the well in the development of ai. this comes as the us _ development of ai. this comes as the us has _ development of ai. this comes as the us has once _ development of ai. this comes as the us has once again - development of ai. this comes as the us has once again tied l as the us has once again tied in its control of advanced semiconductors. underthe

in its control of advanced semiconductors. under the new measures, the chipmakers like tsmc and samsung are required to tighten the due diligence processes for customers and in particular, chinese firms. gregory allen with the director of the ai centre, he summed up the biden administration's latest move.— latest move. the biden administration - latest move. the biden administration is - latest move. the biden administration is not i latest move. the biden - administration is not going out quietly, they are going out with a bang. and just this week, there have been three major new executive access in the first three days of this workweek. so one monday, we the ai diffusion rule which puts in place new restrictions on the export of ai chips, notjust of china which had been pre—existing but to countries around the world and that's designed to tamp down on a smuggling of chips to china which had been a major concern of the us national security establishment. and then on tuesday, we had a new executive board designed to make it much, much easier to build new large—scale data centres and the new large—scale energy infrastructure that those data

centres they were going to need and just to give you a sense of what disorder does, it makes it easier to build new power generation capacity on federal lands with expedited permits and that in anticipation of data centres that might consume up data centres that might consume up to five gigawatts which are in the us is the equivalent of five cooper dams. that is an extreme amount of power, its really critical for leadership ai in the biden administration they can register to do it. and then just a day, they can register to do it. and thenjust a day, on they can register to do it. and then just a day, on wednesday, there was a new rule related to there was a new rule related to the founder restrictions that's designed to cut off china's access to the advance chip making capabilities of taiwan including what it's doing so covertly, using shell companies so three big clause in three days as i said, the biden administration is going out with a bang. to administration is going out with a bang-— administration is going out with a bang. to another story makin: with a bang. to another story making headline, _ with a bang. to another story making headline, with - with a bang. to another story making headline, with the i with a bang. to another story l making headline, with the gaza ceasefire deal big ridge, the focus has shifted to rebuilding the devastating region in an interview with the bbc, the head of the un development

programme estimated that a0 million tons of rubble needed to be removed, he added that the war has quite destroyed decades of infrastructure element, livelihoods and economy. in gaza. south korea, the central bankers kept the benchmark interest rate unchanged at 3% and our first meeting of the year, the decision is the first since president yoon suk yeol attended to have martial law which plunge the country into political instability. for more on this, i'm joined political instability. for more on this, i'mjoined by economist. thank you for joining us, before we go to the politics of the day in south korea, what have you made about the way decision to hold it steady? the way decision to hold it stead ? �* . . , the way decision to hold it stead ? a . , steady? actually, i was surprised _ steady? actually, i was surprised that - steady? actually, i was surprised that it - steady? actually, i was surprised that it was i steady? actually, i was| surprised that it was ok steady? actually, i was- surprised that it was ok with the policy rate and pre— %. after to leave the rate cut in fourth quarter last year, maybe they are taking a wait and see

mode and before, they are making another rate cut. they all agree that the economy is struggling and they are with the situation however, now, they put the stabilisation of currency to career before the aggressive port. but before this into the press conference of the governor and reading the statement, we believe that more easing is coming in the near term. easing is coming in the near term, ., ., , easing is coming in the near term. ., ., , ., term. south korea is going throu~h term. south korea is going through a _ term. south korea is going through a political- term. south korea is going through a political crisis i term. south korea is going through a political crisis asj through a political crisis as we've been reporting here on the bbc. how has that impact the bbc. how has that impact the economy though? actually, orally because _ the economy though? actually, orally because of— the economy though? actually, orally because of the _ the economy though? actually, orally because of the political. orally because of the political turmoil but also because we had a very plane crash at the end of december so combined two factors are dampening the sentiment of business and also consumers. we already seen that sentiment and educators trout

sends covid error and also, yesterday, we saw that our unemployment rate would shoot over 3% which is very high up since 2021. and also, the data which has credit card consumption and online purchase services, all this indicates the points to sharp degeneration of domestic economy. it degeneration of domestic economy-— degeneration of domestic econom. ., , ,,~u, economy. it does look a little bit bleak, _ economy. it does look a little bit bleak, you _ economy. it does look a little bit bleak, you show— economy. it does look a little bit bleak, you show the - economy. it does look a little l bit bleak, you show the bank's pessimism for south korea's economy in 2025?— pessimism for south korea's economy in 2025? yes, actually, the thing is _ economy in 2025? yes, actually, the thing is that _ economy in 2025? yes, actually, the thing is that we _ economy in 2025? yes, actually, the thing is that we believe - the thing is that we believe that because the policy supports real fully committed to the support growth, even though today, it would be ok however, we believe that the easing will come and also in a physical policy will be more accommodative from now on so

they will support to avoid or technical recession or sharp contraction of the economy. thank you for your thoughts today. in the us, the dow and s&p 500 in the nasdaq all had their best day in more than two months. held by strong bank earnings and encouraging inflation port. according to the labour department inflation in the world's largest economy rose by 2.9% in decemberfrom a year earlier. prices of energy and eggsjumped by the year earlier. prices of energy and eggs jumped by the cost of other items rose by a smaller margin than expected. kamala harris used to work at the us treasury department said to break down the numbers. markets are still think _ break down the numbers. markets are still think that _ break down the numbers. markets are still think that the _ break down the numbers. markets are still think that the fed - are still think that the fed will not go in march, it's around 28% but there is a fair amount of data they will come in between now and then in particular on the labor side will have to see whether or not

we will get another strong reading that we got last friday. we saw an unexpectedly hot print when it came to payrolls and also unemployment following a.i% so the fed is in a wait and see mode and you can see what happens with the labor market but today's information is unequivocally good news. what about the fed going forward for 2025? for what about the fed going forward for 2025? for 2025, the fed is watching _ forward for 2025? for 2025, the fed is watching the _ forward for 2025? for 2025, the fed is watching the proper - fed is watching the proper administration, the expectation now is one — two cuts, if we have a very tight labor market moving forward or if we have an inflationary policy, the fed will continue to pause, it's unlikely that the fed will begin hiking with the fed needs to see conclusive data are both with respect to the labor market and with respect to inflation before it will feel confident by cutting by more than 25 basis points over the course of the year. lie course of the year. us president-elect - course of the year. us president—elect donald trump is likely to follow through on its promise to impose blanket tariffs is, says one of his

former economic advisers. he served as deputy director of the national economic council and deputy assistant for international economic affairs during the first trump administration. we told my colleague that the trump could move very fast once he is in office. ,, ., , office. so, in the first term, was part _ office. so, in the first term, was part of— office. so, in the first term, was part of these _ office. so, in the first term, was part of these debates, l office. so, in the first term, i was part of these debates, we had a lot of deliberations about tariffs and whether they should be used and how they should be used and how they should be used and how they should be used and what should be used and today, when a position where it seems to be determined, they are going to be used so there is not of deliberation about that. how often and to what degree are they going to. often and to what degree are they going te— often and to what degree are they going to— often and to what degree are they going to. there's been a lot of tower _ they going to. there's been a lot of tower talks _ they going to. there's been a lot of tower talks from - they going to. there's been a| lot of tower talks from donald trump, — lot of tower talks from donald trump, history to impose universai— trump, history to impose universal tariff from day one, his talk— universal tariff from day one, his talk tough on china, mexico and canada and this week, wiison— and canada and this week, wilson reports that his administration will take a gradual approach. what should we expect on the tablet front? they're — we expect on the tablet front? they're going to implement

tariffs and the idea that so many ideas either of learning among his senior team about how they're going to do makes me believe that the universal tariffs are more likely. you're not heavy deliberation about are we going to do this? it's about how are we going to do that and what form will take. to me, that's a pretty big indicator that universal tariff is operable in the next term. how should foreign governments, businesses prepare? what advice do you _ businesses prepare? what advice do you have?— do you have? foreign governments, - do you have? foreign governments, it's - do you have? foreign - governments, it's important to first, know your priorities, have an agenda, have a plan, understand the relationships in the united states and also understand the legal options. no like litigation per se but if there is, how can you advise your company to take advantage of it. �* , . , your company to take advantage of it. ~ , ., , ., your company to take advantage ofit. �* , ., ., of it. alphabet ceo will 'oin a list of tech i of it. alphabet ceo will 'oin a list of tech leaders h of it. alphabet ceo will 'oin a list of tech leaders whoh of it. alphabet ceo will join a list of tech leaders who will l list of tech leaders who will attend the inauguration of us president—elect donald trump according to media reports. the gogglebox reportedly spoke to mr trump and gogglebox reportedly spoke to mrtrump and met

gogglebox reportedly spoke to mr trump and met him at as monologue estate after his electoral victory. the search giant has donated $1 million to the event which has been supported by tech firms including meta and amazon. let's recap our top story in the us, president biden has just delivered his farewell address, he wanted an oligarchy has taking shape in america among a few wealthy people. he says have among the concentration of power, more on those remarks and you stay coming up at the top of the hour and coming up at the top of the hourand in the coming up at the top of the hour and in the meantime, sport is next.

hello, i'm lizzy with the catch up. news that many people have wanted a long time for — ideal for a ceasefire in gaza has been announced. hamas and israel have reached a ceasefire deal to and 15 months of war in gaza. due to start on sunday, the prime minister of qatar, country there was a key mediator in the talks, confirmed the deal. this follows months of talks and it

aims to bring a ceasefire in gaza under return of palestinian prisoners and israeli hostages. back in october 2023, israeli hostages. back in 0ctober2023, hamas israeli hostages. back in october 2023, hamas attacked southern israel, killing 1200 people and taking 251 people hostage. since then, israel launched a major offensive on gaza, during which tens of thousands of palestinians have been killed. the health ministry there which is run by hamas says more than a6,000 people have been killed. there's been a lot of reaction to news of the deal. these are the scenes in gaza tonight as palestinians and deal in the street. and israel, protesters in tel aviv are demanding the return of hostages taken in october 2023. a bit earlier on, president biden explained the deal. president biden explained the deal . president biden explained the deal. . , , . deal. the deal is structured in three phases. _ deal. the deal is structured in three phases. phase - deal. the deal is structured in three phases. phase one - deal. the deal is structured in three phases. phase one willl three phases. phase one will allow six weeks and includes a full and complete ceasefire,

withdrawal of israeli forces from all the populated areas of gaza and the release of a number of hostages held by hamas including women and elderly and the wounded. in exchange, israel will release hundreds of palestinian prisoners and during phase one, the palestinians can also return to their neighbourhoods. and all the areas of gaza. remember, you can say across the very latest on the israel — must ceasefire on the bbc news website. from all of us here at the catch up, take care and have a good night. hello and welcome to sportsday. arsenal breathe new life into the premier league title race with victory over spurs in the north london derby.

the world champion kyren wilson books his place in the quarter—finals of the masters. and rory mcilroy says he cautioned his northern irish mentee tom mckibbin againstjoining liv golf. welcome along to the programme. we'll start with the north london derby at the emirates where arsenal beat rivals tottenham 2—1 in the premier league to move just four points behind leaders liverpool. the gunners, who have played a game more than liverpool, were desperate to return to winning ways after successive losses in both the league cup and fa cup. and they went a goal down early, son heung—min's shot was deflected in off william saliba, but they got back on level terms when gabriel's header from a corner rebounded

off dominic solanke,