this is business today. us stocks are clinging onto gains, after thursday's sell—off on wall street. the price of gold hits a record high, as investors seek a safe trade tariffs. arab leaders meet to discuss how to rebuild welcome to business today, live session on thursday, as earnings trickle in.

decline in export orders. also — we're waiting on the university of michigan's one of the market winners though — gold — soaring to a record high, heading towards a milestone of $3000 an ounce. experts say investor interest has been partly triggered and its partners. some are worried that us president donald trump i'm joined by yon van eck, ceo of global investment management company, vaneck. the earnings picture, we see

them trickle in, it seems a lot of the focus is on forward guidance that has been disappointing so how do you the earnings season so you know, we see reat earnings from mega— cap tech stocks. but a narrative for the equity markets in 2025 is us equity markets in 2025 is going to be evened out going to be more evened out across the equity returns across the equity market. you see the equal market. yea; see the equal. keeping pace reerhet. yet! see the eqeet keeping pace the weighti keeping pace with the cap weighted weightg keeping pace with the cap weighted index of market cap weighted index of the smp. a weird reaction to the smp a weird reaffirm te——— — , —— of the companies that some of the companies that could have a good could have printed a good quarter but guidance is quarter'but guidance is very 0ne querter'but guiden'ee is very one of the big important. one of the big underlying factors for the egt zjn j the ai trend and merket is the al trend end there seems merket is the at trend end there seems to be demand there seems to be visible strong. demand there seems to be visible - strong. visible and strong. 3,72 r ., ai trend, we have

visible and strong. 3? t' - ai trend, we have seen a theal'trendfiwe-heve seen e for chinese comeback for chinese technology, we are seeing the market lifted today and a big from the of haze how do you afieof alibaba. how do you view chinese technology, a lot of chinese technetegy. e lot of on deep seek as chinese technoto , - on deep seek as focus on deep seek as well. you want more _ focus on deep seek as well. om, want more diversified exposure even europe has doing well this year. you been doing well this year. you mention emerging markets, an explosive start to the year. up explosive start to the year. up 60% year—to—date. alibaba up 60% year—to—date. the south america and the big south america retailer is also doing well up 24%. emerging markets is outpacing the us which is have when something people heve when forfor something people heve when for for a long something people heve when forfor a long time. to looking forfor a long time. to the chinese tech story, it is just a tremendous confidence and sentiment change when the �*of and sentiment change when the �* of meets with ceos

trumpeted month ahead right trumpeted a month ahead it lifts this big 7 i keeplsaying, l 7 i keeplsaying, if you listing of {7 listing ofand {7 listing of and financial in thelistitngrofendfinenciel in kong or a spin off of a ofalibaba " ' % ofalibaba cloud, 7 77 of alibaba cloud'an'd ai % that " league" 7 w " thatiwouldbei " for the market. 5 around record stocks trading around record highs but you look at gold, eight weeks of straight games. yes some nervousness underneath so how do you the surface, so how do you square the two?— the surface, so how do you square the two? gold had been on a multi-year_ square the two? gold had been on a multi-year bull— square the two? gold had been on a multi-year bull market, i square the two? gold had been on a multi-year bull market, a| one. it does not well—behaved one. it does not scare me at all, i think it is very solid. you have new factors coming into the market this year, us demand from ets for the first time, the fer the fire!“ �*me the ”f. not tn the f“ �*me the hs 7 not talking tn the f“ �*me the �*fs 7 not talking gold investor not talking about gold for the last couple of years. inflation concerns coming back

inflation concerns'eoming beck the us inflation concerns'eoming back the us over last several in the us over the last several months, the fed has noticed that, have noticed that, investors have noticed that. globally demand the trump tariffs continues, the trump tariffs have continued to support =zz = _22 demand for 'ut a demand forjust a hedge foreign demand forjust a hedge to the dollar in their holdings ffbfeig’h” ' ' if their} central 7” foreign central banks but 1 private 7 7 7 private investors. 77 vate �*nvoff 7 3l??? prieétg'in§§§t§k§1"” to live there, else erieétg'ih§§§§§k§1"" to live there, thank you have to live there, thank you the of while the future of the israel—gaza ceasefire plan to develop what he called a middle eastern riviera, dislocating the people who remain there during the process. of the war is unclear — the cost will be staggering — with a fragile ceasefire and differing interests in the region, it's all

a delicate balancing act. we start with trump pitching gaza as the riviera of the gaza as the riviera ef the east, is it viable, especially 7 especially you at the neighbouring countries, saudi arabia, jordan, who do not want to take the in, egypt? it not want to take the in, e: nt? , a clear violation of also a clear violation of international law. we have seen the egypt and arab states theigufland arab states around proposals £5: e: the reconstruction, in around the reconstruction, in this process as the recent around the reconstruction, in this p bank, as the recent around the reconstruction, in this p bank, eu he recent around the reconstruction, in this p bank, eu and ecent around the reconstruction, in this p bank, eu and un1t around the reconstruction, in this p bank, eu and un report world bank, eu and un report where figure of billion from also outlines

this| also outlines this islso outlines this isabsolutely; clearly this is absolutely that any essential that any reconstruction place reconstruction must place in the forefront palestinians in the forefront of it, it must be a palestinian process that reconnects in gaza and the west bank. we are still in -hase west bank. we are still in phase - of _ west bank. we are still in phase - of the - west bank. we are still in| phase - of the ceasefire phase one of the ceasefire deal, that is going to end soon, how much support are you soonbhow muchsunport are you that soonbzhow muchsunport are you that there for phase aflot a lot more aflot more complicated because it sees an end to the war? how fragile do you war?'howfra'gile'dd'you think: is? it war?'h'owfragite do'y�* - - ' is? , a , that is? it is incredibly fragile- _ that is? it is incredibly fragile. there - that is? it is incredibly fragile. there is - that is? it is incredibly fragile. there is so - that is? it is incredibly fragile. there is so to be fragile; there is es mesh te he in relation fragile; there is se mesh ts he in relation to the done in relation to the recovery reconstruction of recovery and reconstruction of gaza that to be begun the education services serwcesthatr 77serv|cesthathave ”serwcesthathavefiéf health services that have been be completely decimated to be reconstituted asap and the vast resonstitutesi vasaprandr the vast removal that resenstitutesivasaprandthe vast removal that needs to be rubble removal that needs to be started, this is an situation, unprecedented situation, there are an estimated 10,000 dead

palestinians are amongst ;— stag; t’he’ ’ ’ ’ "’ "—” ’ " 'fhgc1,r;.,;igx’l';” ’ " 'fhgc1,r;.,;cx’l;’ts” 'fhgc1,r;.,;cx’l;’tsa;; rubble. the complexity to do that in a respectable and dignified way and identify the bodies, it a situation we bodies, it is a situation we never been in before. have never been in before. there is asbestos, equally there is asbestos, unexploded ordinances, just equally there is asbestos, unepr removal, 1ances, just equally there is asbestos, unepr removal, if nces, just equally there is asbestos, unepr removal, if you , just equally there is asbestos, unepr removal, if you laid ;t equally there is asbestos, unepr removal, if you laid it wndon, it isasic ww london, it is basic the size in london, it is basic the size of �* london, this extent been leading the polls, of greater london, this extent with the far—right i this extent of greater london, this extent of greater london, this extent of rubble and even of greater london, this extent of rubble and clearance even before any discussion and 553: ny any discussion and before any discussion and reconstruction on a that reconstruction on a scale that reconstruction on a scale that is can begin makes is required can begin makes is required can begin makes this really is something that this really is something that and around the world should the international community and people around the world should people around the world should be absolutely centred on trying be absolutely centred on trying to push forward to resolve and push forward to and a lasting peace for create a lasting peace for create a lasting peace for israel and palestine. late israel and palestine. late with the far—right afd create a lasting peace for israel and palestine. israel and palestinegfesie to live create a lasting peace for israel and palestine. we do have to live _ israel and palestine.�*sgsfef'si§ - to live there - israel and nastiness; - to live there but - israel and palestine.�*§§se's£§ - to live there but thank have to live there but thank you so much, deen sharp. a israel and palestine. we do have to live there _ israel and palestine. we do have to live there but - israel and palestine. we do j have to live there but thank you so much, dr deen sharp. a visiting fellow at the lse. fellowatnhhi fellowatthe ” iglionétinelstf " " germany could have a new leader germany could have a new leader by monday as voters make by monday as voters make their choice in a general their choice in a general election this weekend. election this weekend. the centre—right christian

democratic union has been leading the polls, been leading the polls, with the far—right afd in second spot. economic issues are front and centre in voters' minds as germany's manufacturing sector has severely slowed. europe's biggest economy also faces high energy prices and stiff competition from china. carsten brzeski from ing research explains the economic policy changes the christian democrats are proposing should they win at the polls. the german campaign has not been clearing proposals. they would cut taxes, the christian democrats, they would like to open up options to return... 0n investment they would like to cut taxes to create more incentives, the big question is how to pay for it. they are so many other parties remain far

away. london fashion week has become the first of the �*big four�* such events to adopt a sustainability policy. hitting the runway on thursday, new designers in its newgen talent incubation programme have to describe how their collections fit in with minimum sustainability standards. a ban has also been introduced on wild animal skins and furs. andrew teverson — the head of london college of fashion, at the university of the arts london — explains how important it is that sustainability is sewn into the fabric of the fashion industry. sustainability and fashion are really critical

sustainability and fashion are really critin dies, materials, dies, recycling materials, dies, recycling materials, sustainable business understanding the models, understanding the provenance and impact of the jigzitihey h theyuse 7 materials they use during banishment. localsuppliers. banishment. local suppliers. advocating for in banishment. localsuppliers. advocating for in the =-: 0ur éfor industry. our centre for fashion sustaj liable, tashion conducts research illital dable fashion conducts research and award—winning research and knowledge on knowledge exchange on sustainability. getlink have agreed to work togeher to open new direct france. the deal is part of an effort to boost passenger numbers through the channel tunnel with routes to paris, data coming out ofjapan.

the bank of japan is expected to hike interest rates again to counter those rising costs. three months of 2024just above estimates, boosted by strong year—end sales. the latest financial report comes days after a widely bosses. stay with us here on bbc news.

the draw for the champions league, some ties to 7 is the to the savour is the route to the final plotted in a tough as it is when you are playing against the of. country but we champion of any country but we confident as well because are confident as well because won out of the eight we won six out of the eight finished third in the games, finished third in the week, four wins coming from home, a formidable opponent but week, four wins coming from hoi will a formidable opponent but week, four wins coming from hoi will see 'midable opponent but week, four wins coming from hoi will see what ble opponent but week, four wins coming from hoi will see what happens, ent but 7 £575; respecthl” 7 7 to7b7e7res7pectful7bu7t7 7 tottenham hotspur will play dutch side az alkmaar, while manchester united will face spanish side real sociedad.