i'm steve lai. let's begin in the united states where president biden hasjust states where president biden has just delivered his farewell address, the outgoing president warned that oligarchy is taking shape in america. among a few wealthy people whom he says have amassed dangerous concentration of power. he added that artificial intelligence is to continue to be regulated and that the us must continue to lead the way on a technology ahead of china. we must make sure ai is 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 and as a land of liberty, america, not china, must lead the world in the development of ai. this comes as the us tighten its control of advance semiconductors and under the new measures, chipmakers like tsmc and samsung are required

to tighten their due diligence processes for customers and in particular, chinese firms. the commerce department have put sanctions on 16 companies that said were acting quote at the behest of ageing. gregory allen, the director of ai centre at the centre for strategic and international studies. he summed up the biden administration status me. 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 actions in the first three days of this workweek. so one monday, we got the ai diffusion rule which puts in place new restrictions on the export of ai chips, notjust of china which had already 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 order

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 that were going to need and just to give you a sense of what this order does, it makes it easier to build new power generation capacity on federal lands with expedited permits and that's in anticipation of data centres that might consume up to five gigawatts which here in the us is the equivalent of five hoover dams. that is an extreme amount of power, its really critical for leadership ai and the biden administration is taking major steps to do it. and then just a day, on wednesday, 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 rules in three days, as i said, the biden administration is going out with a bang. speaking of president biden, he has originally stepped up

sanctions on russian oil companies and its trade. that's bad news for india as russian oil accounts for over a third of its imports. the bbc�*s correspondence lies to talk us through this. how are refiners reaction to this latest move by washington?— washington? everybody was cau . ht washington? everybody was caught by — washington? everybody was caught by surprise _ washington? everybody was caught by surprise and - washington? everybody was i caught by surprise and refiners have assessed their position in terms of how much is expected to come on over the next few weeks. and a report reported some of the that they are actually wanting to pay up faster and sign up for more russian creed before this sections kicking to get discounted crude and be assured of the supplies coming in. but, you know, the report also said that there is about 4.4 million barrels of oil that still in the sea on its way from russia to india and there is little bit of assessment that needs to be done before the land on the indian ports. government officials however, told

reporters that supply still secure are not expecting any shortages because of sanctions on russian — sanctions on russian oils but experts say it's the spots that india has been making of discounted russian oil that could be a concern point, whether prices could go up and they couldst day at higher imports as high as oil is concerned. while russia has been open to offering bigger discounts to countries like india and china, so discounts may come in but considering the sanctions this time also include insurers and shipping companies and ships that further soil, the process is definitely something that would be offer concern, for india, it's depended heavily on russian — she russian oil to bring down the imports and contain inflation.— contain inflation. thanks so much for — contain inflation. thanks so much for that. _ contain inflation. thanks so much for that. two - contain inflation. thanks so much for that. two other i much for that. two other stories in the headline, the gaza ceasefire deal being reached, the focus has shifted

to rebuilding a devastating region. in an interview with the bbc, head of the un development programme estimated that 14 million tons of rubble needed to be removed. he added that the war has quite destroyed decades of infrastructure development livelihood and the in gaza. south korean next were the bank of korea has kept its benchmark interest rate unchanged at 3%. the decision is the first since president yoon suk yeol tended to impose martial law in december. which plunge the company into political instability. the central bank also said the country's gdp can fall below its earlier estimate of 1.9% for the year although it is not issued a new projection. in the us, markets, the dow, s&p 500 and nasdaq all had their best day in more than two months. help by strong bank earnings and encouraging inflation report, according to the labour department,

inflation in the world's largest economy rose by 2.9% in december from a year earlier. prices of energy and eggs jump but the cost of other items rose by a smaller margin than expected. ben harris used to work at the us treasury department helped us to bring down the numbers. markets 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 like we got last friday. we saw an unexpectedly hot print when it came to payrolls and also unemployment following 4.1% so the fed is in a wait and see mode and see what happens with the labor market but today's information is unequivocally good news. what about the fed going forward for 2025? for 2025, the fed is watching the trump administration,

the expectation now is one to two cuts. if we have a very tight labor market moving forward or if we have an inflationary tarrif policy, the fed will continue to pause, it's unlikely that the fed will begin hiking but the fed needs to see conclusive data, both with respect needs to see conclusive data, both with respect to the labour 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. us president—elect donald trump is likely to follow through on his promise to impose blanket tariffs says one of his former economic advisers. he served as deputy director of the national economic council and the beauteous influence national economic affairs during the firstjump administration. he first jump administration. he told firstjump administration. he told my colleague michelle fleury that drum could move very fast once he is in office. so, in the first term, was part of these debates, we had a lot of these debates, we had a lot of deliberations about tariffs in whether they should be used, how they should be used, what

statues should be used and today, we are in a position where it seems to be determined, they are going to be used so, there's not a lot of deliberation about that, it's how often and what gear they going to use. fix, it's how often and what gear they going to use.— they going to use. a lot of tariff talk _ they going to use. a lot of tariff talk from _ they going to use. a lot of tariff talk from donald - they going to use. a lot of- tariff talk from donald trump, he started to impose universal tariff_ he started to impose universal tariff from day one, his talk tough — tariff from day one, his talk tough on _ tariff from day one, his talk tough on china, mexico and canada _ tough on china, mexico and canada and this week, we've seen — canada and this week, we've seen reports that his administration will take a gradual approach. administration will take a gradualapproach. so administration will take a gradual approach. so what should _ gradual approach. so what should we expect on the tariff run? — should we expect on the tariff run? f should we expect on the tariff run? j ., ., , run? they're going to implement tariffs on the _ run? they're going to implement tariffs on the idea _ run? they're going to implement tariffs on the idea that _ run? they're going to implement tariffs on the idea that there - tariffs on the idea that there are so many ideas out there flooding among his senior team around how they're going to do it makes me believe that universal tariffs are more likely. when not hearing about how we're going to do this, it's how are we going to do this and what form are we going do it out. to me, that an indicator that universal tariff is probable in the next term. how should foreign governments, businesses prepared, what advice _ businesses prepared, what advice you have for them?

foreign— advice you have for them? foreign governments, it's important to, first lawyer priorities, have an agenda, have a plan, understand the relationships in the us and understand the legal options, not like litigation per se but if there is a process, how can you advise your company to take that. �* , . , you advise your company to take that. ~ , . , ., you advise your company to take that. �* , . , ., ., that. alphabet ceo will 'oin a list of tech i that. alphabet ceo will 'oin a list of tech leaders h that. alphabet ceo will 'oin a list of tech leaders whoh that. 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 boss has reportedly spoken to mr trump and boss has reportedly spoken to mrtrump and madame boss has reportedly spoken to mr trump and madame that is mar—a—lago estate. the search giant has donated $1 million towards inauguration which has been supported by tech firms including meta and amazon. the us has banned the use of synthetic dye, typically added to food and beverages to give them a cherry red hume. manufacturers will no longer be able to use the product called red dye three after studies to cancer in our laboratory. the diet is primarily used in

sweets, cakes, frozen desserts and medicines. before we go, a recap of our top story, president biden has delivered his farewell address in the united states, he wanted oligarchy is taking shape in america among a few wealthy people, he says have amassed a dangerous concentration of power. he added that artificial intelligence is to continue to be regulated and that the us must continue to lead the way on the technology ahead of china. that's it for this additional business today. thanks for watching. —— edition.

hey, it's lizzy with the catch up. tonight, news that many people have waited a long time for — a deal for a ceasefire in gaza has been announced. hamas and israel have reached a ceasefire deal to end 15 months of war in gaza. it's due to start on sunday. the prime minister of qatar, a country that was a key mediator in the talks, confirmed the deal. this follows months of talks and it aims to bring a ceasefire in gaza and the return of palestinian

prisoners and israeli hostages. back in october 2023, hamas attacked southern israel, killing about 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 46,000 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 in khan yunis celebrate the 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 what's in that deal. the deal is structured in 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 in all the areas of gaza. now remember, you can say across the very latest on the israel—hamas 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. coming up on the programme: 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. you are very welcome along to the programme wherever you are watching around the world. let's 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, before leandro trossard put them ahead on the stroke