the chief executivess of open ai, oracle and the japanese investment fund softbank were with the president at the white house on tuesday afternoon to announce they will work together and raise hundreds of billions of dollars for building data centers for artificial intelligence across the us. called stargate, donald trump said the joint venture is a "declaration of confidence in america". michelle fleury has the details. for months, even years, openai, the maker of chatgpt, has been raising finance to build the massive computing power, data centres that its artificial intelligence technological needs. in the past, its part in the project has been microsoft which is also its largest shareholders. now, openai is bringing other major backers on board. at the white house, oracle and softbank appeared with president trump as he announced that they will enter a joint venture with openai called stargate. stargate will initially open a data centre in texas and be open to other investors, mr trump claims the deal is evident of his success

in building america's ai infrastructure. claims the ceos were obtained to endorse. this monument undertaken is a resounding declaration of confidence in america's potential under a new president. let me be a new president, i didn't say it, they did. so i appreciate that, fellas. we wouldn't be able to do this without you, mr president - and i'm thrilled that we get to. | thank you, mr president, we couldn't do this without you. it would simply be impossible. the ambition is for stargate to raise up to $500 million for data centres over the course of mr trump's a second term. one of his first actions on taking office in 2a hours earlier, was to resend his

predecessorjoe biden�*s plans for artificial intelligence. president donald trump also said he is still considering putting a 10 percent tariff on imports from china and that could begin on on februaryi — the same day he said 25% tarrifs could be slapped on imports from canada and mexico into the us. his trade policy is dominating conversations at the world economic forum in davos. our economics editor faisal islam is there. you don't have to be here to be confused about the detail of donald trump's trade and tariff plan. but the executives of the leaders are talking about that. especially so because of the first day on inauguration day, they thought has been a bit of a reprieve that they would be any tariffs until late spring of an investigation into the

numbers and now we hear from the white house actually the tariffs could hit on the first of february, they could hit mexico and canada. sparking fears of quicker pattern expected and potential tit—for—tat trade war. on investment, lots of good news, hundreds of billions of dollars washing around for investment in artificial intelligence. google, for example, announcing that its deepmind units could see an ai invented medicine being trialed within this year and to all this, the chancellor with a turbulent couple of weeks of the market saying, as you would expect the briton is a globe! great place. it's that you don't want to miss out but starting to put some meat on the policy bone. saying that they could be some more room for manoeuvre in terms of investment in the runway capacity in the uk and also, trying to send a signal by

firing a key regulator, the competition and markets authority chairman being fired and apparently, that being used to send a message that the uk is open for business, the organisation had been told various big tech companies. so the search for growth concerns about trade here at the world economic forum. and let's stay with that last item faisal mentioned — the firing of the boss of the the uk's competition and markets authority because it was not — allegedly — sufficiently focused on growth. marcus bokkerink who has chaired the cma since 2022 will be replaced on an interim basis by doug gurr, former boss of amazon uk. gervais williams, head of equities, premier miton. nice to see you. it's interesting because last week, the chancellor, she did hold a meeting with all the heads of key regulators and her message

to them was, do not get in the way of growth and then late yesterday, we heard of the news that the head of the cma, the chair is off, he's been told to go. chair is off, he's been told to .o_ ., �* , chair is off, he's been told to go. that's absolutely right, it's a good _ go. that's absolutely right, it's a good move _ go. that's absolutely right, it's a good move because l it's a good move because actually, the cma has been quite slow and coming to a decision on its mergers. clearly because of the focus that the merger with pre— network which has been open since october 2023 but if you go back further to microsoft, activision merger, there was openin activision merger, there was open injuly 2022 and didn't opine the termination until november 2023 because the last of all the recommendation authorities to clear and so we are seeing regulators which is excessively bureaucratic, what they're looking to do accelerate decision—making in the scope. accelerate decision-making in the scape-— accelerate decision-making in the scoe. �* ., �*, , , ., the scope. and that's seems to be the message _ the scope. and that's seems to be the message coming - the scope. and that's seems to be the message coming from i be the message coming from every area of government right now, we need to do all we can to fuel growth in the uk

economy, where the prime minister announcing big investment in al in the uk, recently as well which is interesting given what we heard from the president of the us in the last few hours. your take on all these measures in the uk, is going to do thejob? i uk, is going to do the job?! think the removal of uk, is going to do the job? i think the removal of market actually will put us shot across all the different regulators in uk because they will realise they're in the power in line so we will see quite a change of behaviour and actually it comes in the context of improving the financial reporting council, looking to replace that with the governance authority so this quite a lot of change going on for most particularly, we are looking for is to shortly time to reduce bureaucracy, to save cost on legal because particular for those involved so ultimately, the uk is more competitive. find the uk is more competitive. and i haven't spoken _ the uk is more competitive. and i haven't spoken to you yet so what is your take on the outlook for the uk this year? what do you think? i

outlook for the uk this year? what do you think?— outlook for the uk this year? what do you think? i think the uk economy — what do you think? i think the uk economy is _ what do you think? i think the uk economy is going - what do you think? i think the uk economy is going to - what do you think? i think the uk economy is going to be - what do you think? i think the | uk economy is going to be flat, i think with trump in the white house, with god open ended risks, we don't know how these things were the that will things were the that will things slower and the world economy and if there are any actual trade tariffs for the uk, eu or any actual trade tariffs for the uk, eu orany of actual trade tariffs for the uk, eu or any of the other nations which are quite close to the us which could easily happen, that would slow growth further so it can be very unsettled you this year. thank ou for unsettled you this year. thank you for being _ unsettled you this year. thank you for being on _ unsettled you this year. thank you for being on the _ unsettled you this year. thank i you for being on the programme, see you again soon. we will return to trump and makes sure the bullets focus on some of the bullets focus on some of the reporting is. earnings season is in full swing in the us, with netflix reporting its results for the october to december quarter. and it would seem netflix is going from strength to strength with the streaming giant outperforming analysts expectations by adding a record 18.9 million subscribers during the holiday period. those numbers were helped by a whole batch of new content, with two back—to—back nfl games, including the jake paul vs mike tyson boxing match, and the return of the popular series squid game.

ross benes is senior analyst, tv and streaming, emarketer. could to have it on the programme so netflix, it's interesting because i do remember, not so long ago when new competitors were coming to the fore, there was concern about netflix but it would seem that it's really on it now? netflix is definitely asserted dominant position in the streaming worlds and everyone else is just trying to catch up to them. today's earnings, they asserted confidence in their product going forward. but they have said as _ product going forward. but they have said as well— product going forward. but they have said as well that _ product going forward. but they have said as well that they - product going forward. but they have said as well that they are l have said as well that they are going to increase the cost of subscribing to netflix in certain countries, they have done that here in the uk in the us in recent times, that doesn't seem to put packed it would have.—

would have. people look at netflix compared _ would have. people look at netflix compared to - would have. people look at netflix compared to other. netflix compared to other streaming services, fewer people cancel netflix and they do to the other streaming services, it's like a utility bill that multiple willjust keep prescribing and netflix knows that so they are raising prices nor that most people won't cancel castrated investors to focus less on subscriptions and more on revenue and profit, they stopped reporting subscriptions, this was the last quarter and so raising prices by winning ten people to look at profit is a good way of boosting your bottom line. to what extent was that move into sport and streaming live events, the jake poll versus mike tyson boxing match, part of their success. it’s mike tyson boxing match, part of their success.— of their success. it's a splashy _ of their success. it's a splashy delegate - of their success. it's a - splashy delegate advertises attention and brings in some new subscribers who are curious about netflix but it accounts for a small portion of their total watch time, most of netflix business is those original series that they are

putting alex good game. find putting alex good game. and it's really about _ putting alex good game. and it's really about content, that's what makes the choices if we want to watch a certain series, we have to subscribe naturally the push. —— squid game is. naturally the push. -- squid game is-_ game is. it's pretty key, netflix has _ game is. it's pretty key, netflix has had - game is. it's pretty key, netflix has had one - game is. it's pretty key, netflix has had one of. game is. it's pretty key, | netflix has had one of the better user experiences and streaming being ahead of the game and so many areas for another introducing advertising, that using experience will be a risk because most people are not super into ads.— super into ads. just quickly, how many — super into ads. just quickly, how many streaming - super into ads. just quickly, | how many streaming services super into ads. just quickly, - how many streaming services to you subscribe to?— you subscribe to? well, the difference _ you subscribe to? well, the difference between - you subscribe to? well, the difference between how- you subscribe to? well, the l difference between how many you subscribe to? well, the . difference between how many i have access to and how many i pay for. i would say i pay for three and i probably have passwords to seven or eight. that's the benefit of the job, right? being a tv streaming analyst. thanks for being on the programme, we will see you again soon. around the world and across

the uk, this is bbc news.

you are with business today. now lets return to the various annoucements coming from the white house as president trump enjoyed his first official day on the job. we've mentioned the huge investment in al, but what about the other many measures and policy announcements. what will they cost and if the president follows through on his promise of lowering taxes what will this do to america's ballooning national debt which is now over $36 trillion. the us government's long term borrowing costs have risen in recent days on fears about what's ahead. plus, the soaring debt and deficit could set up a conflict between those in the trump administration — and in congress — who want to rein in spending — elon musk who is among those given that task. well, we can pick the brains now of romina boccia who is director of budget

and entitlement policy at the cato institute. do you see a collision course coming here, when wages try and taking the various executive orders and announcements of what's to come?— orders and announcements of what's to come? this way, we are in a celebratory _ what's to come? this way, we are in a celebratory phase - what's to come? this way, we | are in a celebratory phase with the slew of executive orders but there is already a congress about what to do with the need to raise the debt ceiling before the summer and is also theissue before the summer and is also the issue of keeping the us federal government funded, passed march ia. a lot of republicans that want to see significant deficit reduction with the us debt already being excessively high at hundred % of gdp, trump doesn't seem too keen on that and so there is now discussions that he may be working with democrats to perhaps an increase in the debt ceiling with funding for the california wildfires. exactly. that's one _ california wildfires. exactly. that's one example - california wildfires. exactly. that's one example of- california wildfires. exactly. that's one example of a - california wildfires. exactly. i

that's one example of a recent event that will be hugely costly on so many levels. to what extent will elon musk and his department all about increasing departmental efficiency within federal government impact all this? the latest executive _ government impact all this? tue: latest executive orders government impact all this? tte: latest executive orders setting up latest executive orders setting up the white house provides it with much more narrow scope, that are talking about updating it systems and modernising the networks that govern whether agencies talk to each other or not, a lot of fraud and improper payments, i think that thatis improper payments, i think that that is probably an easy target for a group of tech guys to make the government more efficient, also talking about looking at which federal employees are no longer needed and could be let go but when it comes to raining in federal spending and debt, that's why congress really comes in and we've seen a proposal for about 5 trillion in savings to pair that with the extension of the trump tax cuts that it's making

its rounds in the chambers right now, it remains to be seen, whether members of congress will follow through or buckle to the pressure ofjust accepting the tax cuts and not pursuing the spending cuts. this pursuing the spending cuts. as we've mentioned, in recent days, the long—term borrowing costs for the us has gone up on fears of what everything will cost, we saw a very similar situation here in the uk in recent weeks, it will increase the pressure on our chancellor, rachel reeves, could that happen to president trump and the treasury? yes, i think bondholders are watching very closely to how the congress and this new president will proceed. this new president will proceed-— this new president will roceed. �* , ., proceed. as i mentioned, the united states _ proceed. as i mentioned, the united states study _ proceed. as i mentioned, the united states study exactly . united states study exactly high and crowding out private investment, it's making it more difficult for americans to get mortgages, get car loans so we are feeling the pain and if investors decide that they are worried about higher inflation of the long—term which is very

likely of special tax cuts getting extended without commence spending reductions another spending could be added as well for butter and has wildfire and disaster, we may see those rates across at 5% threshold again and that should put more pressure on congress to take the debt and spending more seriously.— more seriously. thank you for “oininu more seriously. thank you for joining us _ more seriously. thank you for joining us from _ more seriously. thank you for joining us from the _ more seriously. thank you for joining us from the institute, | joining us from the institute, interesting. the boss of the world's largest provider of employment services randstad predicts donald trump's presidency is likely to be a net positive for the jobs market. the company's annual survey also shows that in the global workplace — work—life balance is now considered more important than pay for employees. well i'm joined now by sander van't noordende — the chief executive of randstad who is in davos. welcome to bbc news. let's

start with your take on the donald trump presidency, why do you say it's net positive for jobs? t you say it's net positive for “obs? ., you say it's net positive for 'obs? ., , you say it's net positive for iobs? ., my ,':,':,': jobs? i would say the 333 economic— jobs? i would say the 333 economic plan _ jobs? i would say the 333 economic plan that - jobs? i would say the 333| economic plan that donald jobs? i would say the 333 - economic plan that donald trump is putting in place is good news. 3% growth, 3% budget deficit and 3% barrels of oil. more growth means more confidence in terms of investing in businesses and investing in businesses and investing means investing in infrastructure and technology but also investing in people. and so, i would expect our clients to start hiring more people over the next couple of months. �* , . , months. it's all very well havin: months. it's all very well having a _ months. it's all very well having a plan _ months. it's all very well having a plan but - months. it's all very well having a plan but as - months. it's all very well having a plan but as we i months. it's all very well i having a plan but as we all months. it's all very well - having a plan but as we all are very well aware, government set a target for economic growth but don't meet them. tia a target for economic growth but don't meet them. no but it's all about _ but don't meet them. no but it's all about confidence, - but don't meet them. no but it's all about confidence, it's| it's all about confidence, it's about his optimism, confidence in the economy that we are doing the right things to be deregulation, will they be investment, that creates confidence and confidence create the willingness on behalf of our clients to

invest. ~ . behalf of our clients to invest-— invest. what about is immigration - invest. what about is immigration plans i invest. what about is l immigration plans and invest. what about is - immigration plans and the impact they will have on the label kit in the us? it will have an impact, when it, in many areas?— have an impact, when it, in man areas? ., ., many areas? the impact of that is unclear _ many areas? the impact of that is unclear as _ many areas? the impact of that is unclear as of _ many areas? the impact of that is unclear as of now, _ many areas? the impact of that is unclear as of now, i - many areas? the impact of that is unclear as of now, i would . is unclear as of now, i would say that i'm not expecting a major, major impact but it remains to be seen how things will plan out. remains to be seen how things will plan out-— will plan out. your view is a ulobal will plan out. your view is a global view. _ will plan out. your view is a global view, you _ will plan out. your view is a global view, you release i global view, you release your annual report and you come to the conclusion that worklife balance and is more important to many then pay, took us to that because for many, whether cost crisis right now, it's about how much they are earning more than anything else? yes. more than anything else? yes, sir, for more than anything else? yes, sir. for the _ more than anything else? yes, sir, for the first _ more than anything else? yes, sir, for the first time, - more than anything else? yes, sir, for the first time, we've i sir, for the first time, we've been doing this research for a couple of decades now, worklife balance is higher than compensation, i will be honest, it's only slightly higher, it's a bit more in the uk so workers are clearly saying, worklife balance is really important but

pay compensation and that being competitive is also still very important, i would say. tt’s important, iwould say. it's interesting _ important, iwould say. it's interesting to _ important, iwould say. it's interesting to say - important, iwould say. it's interesting to say that because this year, many big companies around the world have put in new rules like is on at the beginning of this year said, our managerial staff, we want them all in the office every working day and as opposed to a balance of hybrid working environment, many companies seem to be rolling back on flexible working worklife balance scenario that put in place code, for example. employees same flexibility is really high on the list as well, flexibility in terms of where they work hard on when they work and how they work, in fact, if you look at a research employees are saying that three daysin employees are saying that three days in the office is great for us and employees are saying, on average, 3.5 days so there are not that far apart and obviously, the ones who go to

the extremes to the five days, they get more attention in the media but overall, they are very close, they can work it out and i think it will settle down over the coming year. find down over the coming year. and down over the coming year. and do tell, why _ down over the coming year. and do tell, why are _ down over the coming year. and do tell, why are you in davos, for you as the ceo of this company, how important is this event for you? what do you achieve, first of all, for all of us, it's a good way to sniff what's going on in the world, what's going on in the world, what our clients are saying what's happening in the world of talent, what's happening the world of skilling, all these topics are really high on the agenda and for us as a global talent company, that's all very important, of course. interesting. thank you for joining us. thank you very much for having me. president trump has also revoked president biden's

executive order of 2021 that aimed to make half of all new vehicles sold in 2030 electric. what could this mean forfuture of ev�*s in us and how will it hit ev maker. michael lohscheller, global ceo, polestar. it is an electric vehicle maker. welcome to the programme. so what are your thoughts on president trump rolling back encouragement to buy ev�*s in the world's biggest economy? buy ev's in the world's biggest economy?— buy ev's in the world's biggest econom ? ., ., ., ~ economy? good morning and thank ou for economy? good morning and thank you for having _ economy? good morning and thank you for having me. _ economy? good morning and thank you for having me. linda _ economy? good morning and thank you for having me. linda savage i you for having me. linda savage was a very important market, not on in terms of size but in terms of influence globally, what it is the starting point for the us, manufactured locally and south carolina so we are creating american jobs, we are creating american jobs, we are creating american jobs, we are now ramping up the increasing the number of dealers and now we have to make sure that we work through those

details but at the end of the day, think american consumers are very open—minded for electric vehicles, especially on the east and west coast but of course we have to make sure that we work through this technical changes now, once they are finalised but we continue to grow in the us, is an important market for polestar. iiit an important market for polestar.— an important market for polestar. , ., _ polestar. in your mind by the chinese company _ polestar. in your mind by the chinese company so - polestar. in your mind by the chinese company so what - polestar. in your mind by the i chinese company so what does that mean for you with regards to your operations in america because as you say, you build in america, you sell in america, does that mean you avoid any tariffs going forward or sanctions?— or sanctions? first of all, polestar _ or sanctions? first of all, polestar is _ or sanctions? first of all, polestar is listed - or sanctions? first of all, polestar is listed at - or sanctions? first of all, polestar is listed at the l polestar is listed at the nasdaq in the us and we also integrate a lot of american technology in our cars, starting with google but also nvidia chips at this point are made in terms of manufacturing a locally is really our highest importance and not only from a tariff point of view but also from an economic point of view,

i think the times where you ship cast around the word, they have changed so the polestar strategy is manufacturing locally, our cars for the different market the same going to do here in europe and in the other markets.— to do here in europe and in the other markets. when will you be based in europe _ other markets. when will you be based in europe if _ other markets. when will you be based in europe if you're - other markets. when will you be based in europe if you're not - based in europe if you're not already? based in europe if you're not alread ? ~ ., ~ ., already? we made last week an im ortant already? we made last week an important decision _ already? we made last week an important decision that - already? we made last week an important decision that we - already? we made last week an important decision that we willl important decision that we will introduce a compact suv for polestar, we coal it the polestar, we coal it the polestar seven and we made a decision to do this year in europe and the exact location we will announce into two — three months in which country but also... three months in which country but also- - -_ but also... you can tell is now on bbc but also. .. you can tell is now on bbc global— but also... you can tell is now on bbc global news, - but also... you can tell is now on bbc global news, it - but also... you can tell is now on bbc global news, it would | on bbc global news, it would save you a lot of pr money, you can announce it here, we want be based in europe?— can announce it here, we want be based in europe? thanks for the offer but — be based in europe? thanks for the offer but we _ be based in europe? thanks for the offer but we are _ be based in europe? thanks for the offer but we are wrapping i the offer but we are wrapping up the offer but we are wrapping up all the details but back to the point of local manufacturing. polestar is doing really well here, we are strong, we are shown in the uk and this... to strong, we are shown in the uk and this- - -_ strong, we are shown in the uk and this- - -— and this... to be fair, it's not the — and this. .. to be fair, it's not the real— and this... to be fair, it's not the real reason - and this... to be fair, it's not the real reason why l and this... to be fair, it's i not the real reason why you having to manufacture locally

in the us and europe, of tariffs put on chinese vehicles made in china and exported to europe in the us, that's the real reason, isn't it?- europe in the us, that's the real reason, isn't it? no, it's both. real reason, isn't it? no, it's both- its — real reason, isn't it? no, it's both. it's making _ real reason, isn't it? no, it's both. it's making sure - real reason, isn't it? no, it's both. it's making sure we i real reason, isn't it? no, it's. both. it's making sure we have certainty in terms of tariffs but there's also an economic reasons, as i said, shipping cars around the world is a costly exercise also time to market, reduce costs for european customers is also the fastest way to bring our great products to customers. share fastest way to bring our great products to customers. are you concerned. — products to customers. are you concerned, almost _ products to customers. are you concerned, almost at _ products to customers. are you concerned, almost at a - products to customers. are you concerned, almost at a time i concerned, almost at a time about the demand for electricity, ai and what that will consume, if ev's are also growing in terms of sales and usage across the world, we will run out of electricity, won't we? ., ., �* 4' run out of electricity, won't we? ., ., �* ,, , we? no, i don't think so. this is a gradual— we? no, i don't think so. this is a gradual improvement i we? no, i don't think so. this is a gradual improvement and that's also what we see. the examined forecasters there and the progress is also very

amazing. i'm optimistic in terms of development of ev cars here in europe but also around the world. here in europe but also around the world-— the world. michael from polestar. _ the world. michael from polestar, that _ the world. michael from polestar, that brings i the world. michael from polestar, that brings to | the world. michael from i polestar, that brings to an the world. michael from - polestar, that brings to an end business today. hello. wednesday is going to be quite a quiet day weather wise, albeit a rather murky one at times. however, by the end of the week, things will be a lot livelier. we have a named storm on the way. storm eowyn already yellow warnings from the met office, the risk that some places could see gusts of wind of 90mph. but for the time being, certainly no strong winds, in fact, very few isobars on our pressure chart. so, very light winds. that has allowed some mist and fog to form, some of that taking a while to clear. but across scotland, northern ireland, northern england, wales, the south west, through the afternoon, we should see sunny spells and just the odd shower, whereas for central and eastern parts of england will hold on to more in the way of cloud, maybe a little bit of rain, and temperatures 5—8 degrees.

so in spite of the light winds, it's going to feel fairly chilly, and it's going to turn cold again through the night, especially where we have some clear spells. we could see some mist and fog patches, some areas of cloud. temperatures dropping down to freezing, below freezing in places, but later in the night, into the first part of thursday morning, we see a band of rain pushing into northern ireland, that will swing its way eastwards through the day. could well see some snow mixing in over high ground across some northern parts of scotland. it's is going to be fairly breezy, but that is just the precursor to what is heading our way on friday. now, to find out where storm eowyn is forming,

we have to look out into the atlantic and look up to the jet stream. the winds high in the atmosphere, a jet stream level likely to exceed 250mph. so that extraordinarily strong jet stream providing the fuel, the energy to deepen this area of low pressure. this low will be deepening rapidly as it approaches our shores, and storm eowyn is likely to bring widespread gales, outbreaks of rain, some snow across the north. but it is across these irish sea coasts where, at the moment, it looks most likely that we could see wind gusts of 80 to possibly 90mph, maybe even stronger than that in the most exposed spots. obviously those winds could cause some damage and some significant disruption, and that does usher in a rather turbulent period of weather. there will be further spells of wind and rain in the days ahead.

live from london, this is bbc news. president trump announces a $500 billion private sector investment into artificial intelligence infrastructure across the us. he vowed to invest in — across the us. he vowed to invest in fossil _ across the us. he vowed to invest in fossil fuels - across the us. he vowed to invest in fossil fuels over. invest in fossil fuels over renewable energy resources following the decision to exit from the paris climate agreement. turkey declares a day of mourning after the hotel fire that killed 66 people. and our correspondent revisits a former assad security branch in syria where she was investigated and arrested under his regime. later in business,

streaming success. netflix adds a record number of subscribers and increases charges for many users. hello, i'm sally bundock. we start in the us and, in the past few hours, president trump has announced the creation of a huge artificial intelligence project called stargate. it will see the private sector invest up to $500 billion in al infrastructure in the united states over the next four years. he said it would create about 100,000 jobs. the initiative expands exisiting plans to build huge data centres. after signing a swathe of executive orders, he has sought to justify his decision to pardon more than 1,500 supporters who stormed the us capitol building four years ago. mr trump described their

punishments as "ridiculous and excessive".