amazon pledges almost 100 billion towards ai investment, saying it's a once in a lifetime opportunity. and frozen assets — how beijing wants to earn cold hard cash through it's "ice and snow economy". hello and welcome to business today. i'm steve lai. let's start in the us. amazon says it will invest

almost $100 billion amazon says it will invest almost! in 0 billion amazon says it will invest almost! in revenue amazon says it will invest almost 5 in revenue to just ,%1% ”e: 7 ”just shy just shy �*wall billion, just shy of wall expectations. street's expectations. amazon joins microsoft and google in jeins misreseft and geeelen ~ , weak cloud numbers at em— em investors have a time when investors have grown increasingly grown ias'eégifigluimgatigqt— ,. b|g grew". increasingly imgatiget— ~ , big tech grew". increasingly imgatiget— ~ w big tech ploughing of in al billions of dollars in al investments and hungry to the? the returns. 7 the returns. company reap the returns. the company

is contending with the fall—out deepseek's new models and ,,,7 ”it.-. ,, .. z... it can ”77 "tags; tt |tcanbebu|lt t tt tittctant bebuiltat tt tittctanbebuitlttat a of the cost. they made cost. they already made deepseek available via the ai platform. judge the us has extended a 31533 “3 $33 !..!s i333 av�*anaaj ' 7 ~ ., ~ ' 77 * deadline a 3333 �*3 933 953 l333 3v�*3":�*3f ' f " _ ... .-. * deadline federal 3 fi33§iln3jgr 6313331... .....-- . to 3 33331111369 £33331... .....-- . to decide 3 3333113363 £33331... .....-- . to decide to be — tttt tthtetoffer ' t the offer is part bought out. the offer is part a drive to cut the federal of a drive to cut the federal workforce. the white house says of a drive to cut the federal workforce. 40,000 :e house says of a drive to cut the federal workforce. 40,000 people e says more than 40,000 people have already accepted. that's about the unions have advised “11 the ons have advised “11 the offer ave advised “11 the offer ave are sed against the offer and are challenging it in court. through the panama canal. through the panama canal. his comments came after the panama canal authority rejected the us state department's claim that that us government vessels would no longer be charged crossing fees to use the waterway. to use the waterway. currently, the us makes up a significant proportion of traffic proportion of traffic through the canal — through the canal —

accounting for 52% accounting for 52% of transits in 2024. of transits in 2024. donald trump has been donald trump has been threatening to seize the waterway, alleging china's threatening to seize influence on panama. turning now to steel and moves by the japanese giant nippon by the japanese giant nippon to try and buy us steel. to try and buy us steel. a deal was blocked by biden�*s administration who said it posed who said it posed a national security threat. a national security threat. but what does a trump but what does a trump administration mean administration mean for the proposed takeover? for the proposed takeover? and could it form a part and could it form a part of the conversation of the conversation whenjapan�*s prime minister shigeru ishiba meets trump later today? trump later today? nick wall is a mergers and nick wall is a mergers and acquisitions attorney, and acquisitions attorney, and talked me talked me through the process that would be required to get the deal passed.— that would be required to get the deal passed. look, there's clear steps _ the deal passed. look, there's clear steps that _ the deal passed. look, there's clear steps that the _ the deal passed. look, there's clear steps that the deal - the deal passed. look, there's clear steps that the deal has i clear steps that the deal has to go through if it's going to successfully go ahead. the first step is litigation. the case is currently in front of the us courts to try and overturn the decision of president biden. whether that happens or not, i think — i think it will be difficult. we'll see what happens over the

coming months. if the courts overturn the decision of president biden, then it goes back and then they will reconduct the analysis. if it reaches the same conclusion, it will go to president trump to make a final decision and we'll see what happens there. what see what happens there. what does this deal _ see what happens there. what does this deal with _ see what happens there. what does this deal with us - see what happens there. what does this deal with us steel and nippon steel, it a bellwether? can we use it to tell what the mood is for trump's agenda going into his second term when it comes to trade, tariffs and his america first policy? i trade, tariffs and his america first policy?— first policy? i think from the persnective _ first policy? i think from the persnective of _ first policy? i think from the perspective of nippon - first policy? i think from the | perspective of nippon steel, first policy? i think from the i perspective of nippon steel, it probably is. in order to compete in the us market, having us production and being able to increase its us production is going to be vital, particularly if tariffs are imposed againstjapan. i think in terms of the wider us japan relationship, not so much. this is a very unique transaction which happened at a very unique time, with very unique, you know, political influence. i don't think it

reflects on the widerjapan—us relationship. japan is the largest investor in the us, it's a very strong ally of the us. and particularly with global tensions, us. and particularly with globaltensions, i us. and particularly with global tensions, i don't think that will change. i don't think people should take this transaction as being reflective of the wider us—japan relationship. of the wider us-japan relationship.— of the wider us-japan relationshi-. ~ ., ., , relationship. what do nippon steel risk to _ relationship. what do nippon steel risk to lose _ relationship. what do nippon steel risk to lose if _ relationship. what do nippon steel risk to lose if this - steel risk to lose if this doesn't go through? they're in a very difficult _ doesn't go through? they're in a very difficult position. - a very difficult position. they're starting to look at other options. if this transaction doesn't go through, they will need to look at other opportunities. they are

they will need to look at other oppor1 it’s ies. they are they will need to look at other 00.. �*, ., re they will need to look at other 0.0. �*, ., re or eu. it's important because no one _ map - or eu. it's important because no one _ mop -- i or eu. it's important because - no one _ mop -- should no one commodity mop —— should be monopolised by one no one commodity mop —— should be monopolised by oi to j3ri33i3ti3n. thi3 h3333n3 33 not a friendly jurisdiction be not a friendlyjurisdiction the west, that is china. control 97% the world's t earths. that's earths. that's why rare earths. that's why digging out of ground of 'urisdiction is thatjurisdiction is because control 97% of the world's

and you're using t and you're using it for supply, and you're using it for you know, everything. yeei'lsn3'3�*; ~ this everything. yeeiknew; ~ this iphone everything. yeei'isnesv. ~ this iphone i'm on electronics, this iphone i'm on at the using it at the moment, you're using it for missile for for missile systems, for rockets, elon musk couldn't send a rocket to space ttttsatetllittesttttttt 't tt t sattetllittestt ééttt 't tt t tsattetllittestt sotrtetallyt t t that. satellites. so really everything in the modern world comes to these rare earth metals. % 7232 - out of metals. if; - out of the round in stgff est ef the greend in, . .. .. . is a steff eet ef the greene in. . ~ ~ . is a bit steff eet ef the greend in, . .. .. . is a bit easier steff eet ef the greene in. . ~ ~ . is a bit easier than greenland is a bit easier than maybe elsewhere. but there's still a huge logistical and challenge it environmental challenge when it to refining this into comes to refining this into useful stuff, comes to refining this into usefulstuff, isn't comes to refining this into useful stuff, isn't there? correct. that's the biggest challenge we we — the challenge we face. we — the mine itself will be sustainable. we have two 25 —3e—::: materials that will make the mine profitable. the rare earths part of 33-3 33 33 is ”33.6.” .3 33. .3. .3 .3 tttttttbtbtéttttt tt tt tttttttbtiiélatttt tt tt t ttttttbtbté atnegotkattiton.t going to be a negotiation. now, whether that's processed in an eu jurisdiction or a us e ittt is to where we jurisdiction is up to where we get "33 from.

jurisdiction is up to where we get "*3 from. we're get some funding from. we're happy with either because it's going to go to the it's ts:- t t ttochina t t tto china or j -= j ttt'ctatketatlookt tt t ttt'ctatketatlooktattt t ttfatkeitiséktathhettt t ttaketa look at the opening “’3 3.33.3 3 “mi! 3t the eeening — — — . .. .. .. . the �*.3’3 t3"3 3 'm" at the “crew�*s . . . . ~ ~ ~ . the ninth asian �*3’3 t3"3 3 'm" at the “crew�*s . . . . ~ ~ ~ . the ninth asian winter games of the ninth asian winter games at the city of harbin. 3tth3 thnese city ef h3dein. ' 3' ' ' has at the thnese city ef h3dein. ' "' 3' ' ' has targets beijing has ambitious targets its so—called ice and snow for its so—called iceand snow with plans to use sports tourism winter sports and tourism to boost the sector, estimated to be worth over $200 billion the government t the government is t 2030. the government is looking to market northern china as a for winter sports, capitalising t capitalising on t while capitalising on tractions like the harbin ice like the annual harbin ice festival. heron lim us why festival. heron lim told us why sees potential in winter festival. heron lim told us why - s-ntial in winter l festival. heron lim told us why - s_l in winter i festival. heron lim told us why �* , . . inter festival. heron lim told us why sports. there's ice and snow festival. _ sports. there's ice and snow festival, it's _ sports. there's ice and snow festival, it's been _ sports. there's ice and snow festival, it's been going - sports. there's ice and snow festival, it's been going on l festival, it's been going on 26 years. and the for 26 years. and the heilongjiang province sees

organic and also skiting tresorts. attracting skiing resorts. so does look like is a just within northern china also in southern as where there's a lot of well. where there's a lot of attraction of these vouchers attractien ef these veechers wwwwwwwww on attractien ef these veechers . . 3 3 3 . on tourism, these consumers and on tourism, these consumers to take part those look _t -t like the ways that china is looking to least the looking to attract at least the is looking to attract at least the audience key to this? ttttthtetytlookirtigttt t ttttthtetytlookirtigttbeyond tt ttthtetytlookirtigttbeyond china's borders? i believe they'll have to look at _ borders? i believe they'll have to look at beyond _ borders? i believe they'll have to look at beyond china's - —= to really seek that tradittionally( that in winter sports in everything in winter sports in you think japan, asia, you think. aboutjapan. korea. china more of south korea. china is more of an up and coming destination, but infrastructure, there's still gaps that is keen still gaps that china is iseen fill in still gaps that china is keen fill in and do of

to fill in and do that kind of promotion. 3, to fill in and do that kind of romotion. �* ., t ttttsttenate tt t senate is tttttsttehate is calling for the us senate is calling for elon musk to be barred from iiil being involved in reforming the air traffic control system. aviation authority had imposed on his company, spacex. she also said mr musk had made attempts to force out in airspace reform efforts. we go, a quick update the markets. here in asia it's bag. stocks in china aggrixed bag. stocks in china among the top performers. are among the top performers. the shanghai composite is up, the t t the hatng t the hatng seng. t the hatng seng. nikkeit the hatng seng. nikkei tis as the hang seng. the nikkei is 0.5% korean and down 0.5% and korean and australian markets are trading lower.

and that it for this edition and that is it for this edition of business today. i'll be back at top of the �*for at the top of the hour for news day. in the sports is your wags—f tttt t yourwayt t your way tnext. t

it's lucy with the tonight, insiders catch—up. tonight, insiders speak about sean coombes. grenfell tower to be but the demolished. but first, the bank of england has cut interest to 4. 5%. what does that rates to 4. 5%. what does that mean? you could pay less to

money, but it means you earn on your savings. can earn less on your savings. the bank hopes it will get tt tt tstpetnding "7 " 'spefiéng hoé'ef' ' ' " spending more. sean ng�*eli seinfifié 335§§§§h ’ 7 has ng�*eli seinfifié 7h3fi75§gffi 7 7 has been news a coambes has been in the news a he coembes has been in the news a he injailwaiting to lot. he is injail waiting to go on trial charged with dozens traffickin: . he dozens of |ffickin. he dozens of |ffickina . and faces dozens of lawsuits and denies allegations. the denies all allegations. but the has spoken to who 7 who said 7 who said there was a of big money, threats setters. sf big "we; threets and sex. if of violence and sex. 5%.; to of violence and sex. 5:72:75; to fl of violence and sex. 5%.; to fl women of violence and sex. ’ ’ to fly women in from the country to have sex around the country to have sex with people in the studio. you around the country to have sex witi listen .e in the studio. you around the country to have sex witi listen to n the studio. you around the country to have sex witi listen to those ;tudio. you 1ch 7 bbc7 sounds. 7 on bbc sounds. some other stories now: 7 7 7expected to 5�*353�*3534; 535535? i“ , that é“35;;531;5°5535§1�* , that grenfell tower in announce that grenfell aner in will announce that grenfell tawer in will be announce that grenfell tower in will be 72 london will bedrismantled, 72 died in the building eeeele eiee in the buileingh 7, ~ 77 ~ ~ " a in eeeete eiee in the huiteingh 7, ~ 77 ~ ~ " a in some during a fire in 2017. some survivors and of survivors and relatives of those have those who cliecihave voiced �* about the

those who oieohave voiced �* about the anti anger about the decision. and scientists in australia have scientists in austratia have ~ ,,, ~ ~ the world's scientists in australia haste ,, w ,, ., the world's first produced the world's first kangaroo embryo through ivf. mm - recess they're hoping the process could see if some other —— if it save other could if it will save other from extinction. this an annual tv show that is an annual tv show that mimics an american football puppies. will game using puppies. this will be on sunday, the same day the super bowl is how actual super bowl is on. how cute! that's us for tonight, have a good one. sarah mulkerrins. 0ur headlines: holders liverpool book their place in the final will it be ready in time? centres isn't finished.

welcome along to the programme. let's start then with liverpool, who overturned a one—goal to book their place in the english league cup final at wembley next month.