also in the programme, in artificial intelligence trump revokes a biden scheme by the private sector. the chief executivess of openai, oracle and the japanese investment fund softbank were with the president at the white house live from london, this on tuesday afternoon is business today. to announce they will work together and raise hundreds of billions of dollars dominated by the announcements for building data coming from the white house. centres for artificial in artificial intelligence intelligence across the us. called stargate, donald trump said the joint venture is a "declaration of confidence in america". by the private sector. michelle fleury has the details. for months, even years, openai, the maker of chatgpt, has been raising finance to build the massive to announce they will work computing power data together and raise hundreds centres that its artificial of billions of dollars intelligence technology needs. in the past, its partner for building data in this project has been called stargate, donald trump microsoft, which is also said the joint venture its largest shareholders. is a "declaration of now, openai is bringing other confidence in america". major backers on board. michelle fleury has at the white house, oracle's larry ellison 00:00:59,664 --> 2147483051:37:14,546 and softbank�*s masayoshi son 2147483051:37:14,546 --> 4294966103:13:29,429 from japan appeared with

the details.

for artificial intelligence. president donald trump also said he is still considering putting a 10% tariff on imports from china and that could begin on on february 1st. 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 a little confused about the detail

of donald trump's trade and tariff plan. but the executives, the financiers and the leaders are talking about that. especially so because on the first day, on inauguration day, they thought there has been a bit of a reprieve, that there wouldn't be any tariffs until the late spring after an investigation into the numbers. and now we hearfrom the white house, actually, that those tariffs could hit on the 1st of february. they could hit mexico and canada, sparking fears of a quicker path than expected to a potential tit for tat trade war. on investment, a different story. lots of good news around here. hundreds of billions of dollars sloshing around for investment in artificial intelligence. google, for example, announcing that its deepmind unit could see an ai invented medicine being trialled within this year. into all this, the chancellor of the exchequer, rachel reeves, after a turbulent couple of weeks on the global bond markets, saying as you'd expect that britain is a great

place for investment, that it's on the up, that you don't want to miss out. but also starting to put some meat on the policy bone, saying that there could be some more room for manoeuvre in terms of investment in new 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. that organisation had been targeting 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 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 gave me his view. it's a good move this, because actually the cma has actually been quite slow at actually coming to a decision on its mergers. clearly, the one which is particularly in focus at the moment is the vodafone merger with three network, which has been open since october 2023. but if you go back a little further to activision merger, that was actually opened injuly 2022 and didn't opine a final determination until november 2023, it was the last of all of the regulatory authorities to clear it. so really we've seen a regulatory authority which is probably excessively bureaucratic, and i presume what they're looking to do is accelerate decision—making in this going forward. and that seems to 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. we had the prime minister

announcing a 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 it going to do the job? actually will actually put a sort of shot across well, yes, i mean, ithink the removal of marcus bokkerink actually will actually put a sort of shot across all of the different regulators in the uk, because they'll all realise they're suddenly in the firing line. so i think we will see quite a marked change of behaviour. and of course, it comes in the context of the government which is actually looking to improve the financial reporting council. they're looking to replace that with the audit reporting and governance authority. so there's quite a lot of change going on here. but most particularly what we're looking for is to shorten the lead times, to reduce the bureaucracy, to save costs on legal costs, particularly for the those who are involved. so ultimately the uk is actually a more competitive economy. 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 and he told me about the strength of the netflix business. yeah, netflix is definitely asserting a dominant position in the streaming wars, and everyone else is just trying to catch up to them. today's earnings, they really asserted confidence in their product going forward. but they 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 have put people off. there was a worry about what the impact that would have. well, yeah, if you look at netflix, compared to other streaming services, fewer people cancel netflix than they do to the other streaming services. it's almost like a utility bill that most people will just keep resubscribing. and netflix knows that so they're raising prices, knowing that most people won't cancel. and netflix has trained its investors to focus less on subscriptions and more on revenue and profit. they stopped reporting subscriptions. this was the last quarter that they've done so, and so raising prices right when you're telling people to look at profit is a good way of boosting your bottom line. to what extent was their move into sport and streaming live events, i mean, the jake paul versus mike tyson boxing match as an example, part of their success? well, it's a splashy thing that gets advertisers�* attention, and it 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's business is still those original series that they're putting out, like squid game. and it's really about content, isn't it? that's what makes the choices. if we want to watch a certain series, we have to subscribe. and that's really the push. content is a big part of it. i'd also say user experience is pretty key. netflix has had one of the better user experiences in streaming. they've been ahead of the game in so many areas, but now that they're introducing advertising, that user experience will be at risk because most people aren't super into ads. and just quickly, ross, how many streaming services do you subscribe to? well, there's a difference between how many i have access to and how many i pay for. so i would say i pay for, i think three, and i probably have passwords to about seven or eight. there you have it, the benefits

of a job as a bee —— tv and streaming analyst! around the world and across the uk. this is bbc news.

let's 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 dollars? 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. i asked romina boccia, who is director of budget and entitlement policy at the cato institute, if she sees a collision coming.

this week, we're still in the celebratory phase with a slew of executive orders, but there's already murmurs in congress about what to do with the need to raise the debt ceiling before this summer. and of course, there's also the issue of keeping the us federal government funded past march 14th. there are a lot of republicans that want to see significant deficit reduction, with the us debt already being excessively high at 100% of gdp. trump doesn't seem too keen on that. and so there's now discussions that he may be working with democrats to perhaps pair an increase in the debt ceiling with funding for the california wildfires. yeah, exactly. i mean, 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 of this? well, the latest executive order setting up a doge

within the white house provides it with much more narrow scope. they're now talking about updating it systems and modernising the networks that govern whether agencies talk to each other or not. there was a lot of fraud and improper payments. i think that that's probably an easy target for a group of tech guys to make the government more efficient. they're also talking about looking at which federal employees are no longer needed and could be let go. but when it comes to reining in federal spending and debt, that's where congress really comes in. and we have seen a proposal for about $5 trillion in savings, to pair that with the extension of the trump tax cuts that is 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 extending the tax cuts and not pursuing the spending cuts. and 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 really increased 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. as i mentioned, the united states debt is excessively high. that is crowding out private investment. it is making it more difficult for americans to get mortgages, get car loans. so we're already feeling the pain. and if investors decide that they're worried about higher inflation over the long term, which is very likely, especially if the tax cuts get extended without commensurate spending reductions and other spending could be added as well for border enhancement, wildfire and disaster aid, etc, then we may see those rates cross that 5% threshold again, and that should put more pressure on congress

to take the debt and spending more seriously. 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. i caught up with sander van't noordende, the chief executive of randstad who is in davos, and asked why he thinks the trump presidency is good forjobs. i would say the 3—3—3 economic plan that donald trump is putting in place is good news. i mean, 3% growth, 3% budget deficit and 3% barrels of oil. i mean, more growth means more confidence in terms of investing in businesses. and investing means investing in infrastructure and technology, but also

investing in people. so i would expect our clients to start hiring more people over the next couple of months. it's all very well having a plan, but as we all are very well aware, governments set a target for economic growth but often don't meet them. no, but it's all about confidence. it's about, is there optimism, confidence in the economy that we're doing the right things. is there going to be deregulation? investment? that creates confidence and confidence creates the willingness on behalf of our clients to invest. what about his immigration plans and the impact that will have on the labour market in the us? it will have an impact, won't it, in many areas. yeah, the impact of that is unclear as of now i would say, sally. i'm not expecting a major, major impact, but it remains to be seen how things will pan out to be honest. your view is a global view. you've just released your annual report and you come

to the conclusion that work life balance is more important to many than pay. talk us through that, because for many with a cost of living crisis right now, it's about how much they're earning more than anything else. yeah, so for the first time, we've been doing this research for a couple of decades now. work life balance scores higher than compensation. i will be honest, it's only slightly higher. it's a bit more pronounced, by the way, in the uk. so workers are clearly saying work life balance is really important. but, you know, pay and compensation and that being competitive is also still very important i would say. 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 makers?

michael lohscheller, is the global ceo, polestar an ev maker. i aksed him abouyt his thoughts on trump rolling back incentives to by electric cars. needless to say, the us is a very important market, not only in terms of size, but also in terms of influence globally. what is the polestar starting point for the us? we manufacture locally in south carolina, in charleston. so we are creating americanjobs. we are now ramping up the production of the polestar 3. we are also increasing the number of dealers. and now obviously we have to make sure that we work through those details. but at the end of the day, i 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. it's a really important market for polestar. and you're owned by a 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? yeah, i mean, first of all, polestar is listed at the nasdaq in the us. we also integrate a lot of american technology in our cars, starting with google, but also nvidia chips. but this point i made in terms of manufacturing locally is really of 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 cars around the world really have changed. so the polestar strategy is manufacturing locally, our cars for the different markets, the same we are going to do here in europe and in the other markets. so where will you be based in

europe if you're not already? yeah, we made last week an important decision that we will introduce a compact suv for polestar. we call it the polestar 7. and we have made the decision to do this here in europe. and the exact location we will announce in 2 to 3 months, in which country. but also you could tell us now on bbc global news! i mean, it would save you a lot of pr money. you could just announce it here where you want to be based in europe. yeah, thanks for the offer, but we're wrapping up all the details. but back to the point of local manufacturing. polestar is doing really well here in europe. we are strong. we are strong here in the uk and therefore this local... to be fair is not the real reason why you're having to manufacture locally in the us and in europe is because of tariffs put on chinese vehicles made in china and exported to europe and the us? that's the real reason, isn't it? no, it's both. it's obviously making sure we have certainty then in terms of tariffs.

but there's also economic reasons. as i said, shipping cars around the world is also a costly exercise and also a time to market, produce cars in europe for european customers is also the fastest way to bring our great products to customers. much of the world is bracing for significant us foreign policy changes. some with global implications. president trump ordered a 90—day pause in foreign development assistance leaving millions of dollars in aid in limbo. a review of aid will be led by marco rubio, the new secretary of state. he's the first cabinet member of the new trump administration, and has reiterated president trump's vision of an america first foreign policy. president trump was elected to keep promises, and he's going to keep those promises. and his

primary promise when it comes to foreign policy is that the prime minister —— priority of the united states secretary of state will be the united states, furthering the national interests of this country, and he has given a very clear mandate, president trump has made it very clear, everything we do, and this is true in government but especially at the department of state, everything we do must be justified by the answer to one of three questions. does it make a stronger, does it make us safer, and does it make is more prosperous? if it doesn't do one of those three things, we will not do it. mr rubio is known as a harsh critic of china, as well as an advocate for israel. he said that ending russia's war in ukraine would be official us policy, and that both sides will have to make concessions to end the conflict. with more on marco rubio�*s first day as secretary of state, here's our state department correspondent tom bateman. there were hundreds of staff at the state department to welcome marco rubio as he entered the building here with his family in the lobby, he was greeted by

loud applause and cheers and weeping as he was really welcomed with rapturous applause by those staff. with his family, he went up the staircase and made a short address. at pains to pay tribute to the employees here, he called them the most experienced and most talented diplomatic corps in history. and i think also an attempt to perhaps ease or allay some concerns, he said that while there would be changes from the change of —— trump administration to the state department here, these would not be in his words destructive or punitive. now, in terms of the policy, mr rubio takes over from antony blinken as secretary of state, with several global crises to deal with in the midst of key decisions that have to be made by the us administration, not least among those the war in ukraine and us support as it has been for ukraine. president trump has indicated he wants a

negotiated settlement between russia and ukraine. mr rubio traditionally more interventionist, believing in the us global leadership to solve conflicts but he has tended to track more closely to mrjohn�*s position. now says of course that he do want to see a negotiated settlement between the two countries. and when it comes to the american sponsorship of the ceasefire and hostage release deal in gaza, that will be crucial work that the state department will have to continue. if it is to see the continuation of that ceasefire and crucially, the movement from this first six week phase to a second longer term end to the war that was the aspiration, the hope of the biden administration. president trump saying on monday that he was not confident in the ceasefire itself. so a lot of work to be done. marco rubio now the 72nd secretary of state, first day in the job,

try to push forward with their america first agenda. mr trump has also been talking about tiktok. he's been telling reporters about what could happen. are you open to elon musk owning picked up? i are you open to elon musk owning picked up?- are you open to elon musk owning picked up? i would be if he would want _ owning picked up? i would be if he would want to _ owning picked up? i would be if he would want to buy _ owning picked up? i would be if he would want to buy it. - owning picked up? i would be if he would want to buy it. i - owning picked up? i would be if he would want to buy it. i have | he would want to buy it. i have the right to make a deal. the deal i'm thinking about, larry, lets negotiated read of the media. the deal i think is this. and i met with the owners of tiktok, the big owners. it's worthless if it doesn't get a permit. it's not like, oh, you can take the us. the whole thing is worthless. with a permit it's worth like $1 trillion. so what i'm thinking about saying to somebody is, by it, and give half to the united states of america, half, and we will give you the permit. the lot will give you the permit. the plot thickens. _ 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 we'll hold on to more in the way of cloud, maybe a little bit of rain and temperatures 5 to 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 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 atjet 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 in the united states. mr trump's plans to end automatic citizenship at birth

has been met with action from a coalition of 18 democrat led states. this is the scene in rafah. over 2,400 aid trucks have entered gaza since the beginning of the ceasefire, as many displaced palestinian people return to assess the scale of damage. turkey's president declares a day of national mourning, following a hotel fire that killed at least 76 people. and our correspondence revisits a former assad security branch in syria where she was repeatedly investigated and arrested under his regime. let's start with live pictures of the white house, it isa

it is a snowy washington. donald trump has had a busy first full day of his presidency, signing a flurry of executive actions. 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 $500 billion in al infrastructure in the united states over the next four years. he said it would create about 100,000 jobs in the us.