put the brakes on trade. this is business as are your updates on global business news here on t w welcome to the trade conflict between the u.s. and china could soon reach an agreement according to initial reports the us government agreed to abandon this sunday's plant tariffs 1st reports came out rumors started spreading markets celebrated cautiously. according to bloomberg it's done and dusted the news agency says u.s. president donald trump seen here at a bull on thursday has already signed off on a trade deal with china that's likely refuted by the u.s. trade department it says a deal may be in the offing. the chinese foreign ministry is also holding its cards close to its chest spokesperson reiterated the chinese position. only we are always committed to resolving and containing differences between china

and the united states through constructive dialogue we always insist that consultations must be based on the principles of equality and mutual respect an agreement must be new to beneficial hooley. should the agreement be ratified to the chinese will avoid further levies on $160000000000.00 worth of exports to the us the us is also set to lower tariffs already in place according to media reports for its part beijing has promised to import more agricultural products from the u.s. it also says it will grant u.s. companies easy access to chinese markets and introduce tougher regulations to protect intellectual property so is the deal closed. on markets taking the twitter message by donald trump sirius.

it may be friday the 13th but there was no bad luck bourses today global stocks so it's just on the media news that trump has signed off on the deal and major indexes here in asia closed up between one and 3 percent today i mean generally investors are just happy that there's even progress with the deal. of why is preaching playing so. what 2 possible reasons why beijing could be singing a different tune if you consider them singing a tune at all. those comments from foreign ministry spokesman who we just heard from she said the deal a deal between the u.s. and china had to be mutually beneficial now this could mean that china may not necessarily be 100 percent on board or happy with the deal that they may or may not have signed with trump a 2nd there are comments from foreign minister himself he now he spoke at

a symposium in beijing and he criticized the u.s. for ruining china's image with accusations of violence against. the muslim minorities in. as well as how it's happened china has handled the protests in hong kong no it once the u.s. to fix these apparent this apparent slander before it moves on to even wanting to celebrate about the deal so this could point to why they're reluctant about it at all and this also plays right into beijing's recently launched a campaign where it wants to redefine its own version of human rights the announced this convention a human rights convention this week and curiously enough it involves delegates from north korea and syria so at least i think. thank you very much. well the other big development moving global markets today is the

decisive result of the general election in the u.k. british voters have handed the conservative party a large victory making breaks it all but certain ended years of uncertainty with a majority of almost 80 seats boris johnson should have no problem getting his brakes a deal through parliament in time to leave the e.u. on the 23rd of january e.u. leaders have welcomed the clear message from british voters meanwhile the value of the pound has surged to its highest point since $26.00 the region $1.35 a stock's also gained. now let's bring in michael he's chief market analyst at c.m.c. and joins us from london michael the pound as we've heard is going considerably but will that stick and west sterling headed. yeah good afternoon yeah i think it will stick but i think i would struggle to say it will go much higher

we've come an awful long way in a very short space of time i think the extent of the majority was a surprise which is why you've seen the move from 132-2135 i think will spend a period of time consolidating around these sorts of levels as well as obviously a 3 cents against the euro that that's a 3 year low for the euro and i think it would take something significant to really go much below that in the short to medium term but in the next stumbling block is a trade agreement with the un and we're looking at previous trade agreements it's of years and years and years to negotiate once and once a done in a year is that realistic. i don't think it is but what i would say is that we're coming at it from a slightly different angle in terms of canada most of the u.k. and he is already aligned so really it's just a question of how far either side wants to divert one thing i would say is that the size of boris johnson's majority will mean that he's much more flexibility in terms

of red lines he won't be beholden to very small pacs within the conservative party the european research group famously had 20 or 30 in pains and was a severe constraint on to reason why they won't be on this occasion. the footsie to 15 is on record highs on the on these news will that transform into a long term trend or will bridges. for a while. i think i think will stay volatile but i certainly think they have been given a fresh of adrenaline on the back of the fact that the labor party has been completely defund astray to at this election there was a significant discount. discount on nationalize ation stocks or stocks that were perceptible to nationalisation now that risk is no longer there an awful lot of these undervalued stocks are likely to get further inflows and likely to see

further going stocks like bt group royal mail centrica housing the housing stocks like berkeley group and taylor wimpey are all up significantly today and could well go quite a bit higher michael used thank you very much for this insight thank you for . now the british car industry will keep a close eye on developments in the coming months with 80 percent of britain's exports going to the e.u. a lot depends on what kind of post briggs's deal the u.k. and the e.u. can hammer out during that transition period for many it's time to look for a plan b. to keep business going. when it comes to the topic of breakfast gregory mcdonald tends not to see eye to eye with his employees he's the managing director of car parts supplier good fish most of the workers in the group conoco plant

around an hour's drive outside of birmingham voted to leave the european union. the company employs some 130 people in 3 plants the plastic parts they produce are sold to german japanese and american car makers. for many the ongoing uncertainty surrounding breakfast is an increasing source of concern. all business depends on what they decide will happen as a result of drugs and they don't know themselves yet but of course we've seen some japanese. decided to close down there are lots of other paulson the that i know about that are closing or drinking a 3rd of what the company produces goes to the e.u. and it's in the block mcdonald sees the company's future now there are fears one of the company's 3 plants in britain may have to shut down. one man keeping a close eye on developments is paul mauer half needs from the society of motion

manufacturers and traders a car lobby group he says bracks it could cause the british automotive industry to fall behind in terms of technology we've seen investment in the car industry plummet in the 1st 6 months of this year to about $90000000.00 from an annual run rate of about 2 and a half 1000000000 so that's a serious concern on top of that you've had companies spending at least half a 1000000000 pounds on no deal continuously measures and this is money that would be better spent on the search and development than innovating electrification the good fish group has seen sales pull 25 percent this year and that's after a 15 percent decline in 2018 the boss says plan. that is not the only reason his plans for the future still involve the e.u. . we're planning to open a plant in slovakia. we have looked at several sites and

interviewed a team of people who'd like to work with us and. soon as we know what we need to make or what our customers would like us to make for them outside of briggs and will open up in slovakia and stop person from buttons he's also looking for more clients added side of the automotive fact there for him the priority is to make sure that british plants have enough business to keep them going for years to come . and they are some of the other global business stories making headlines today. german food company delivery hero board south korea's biggest takeout. for 3600000000 euros south korea is the world's number 4 market for online food orders off the china the u.s. and the united. states have given the green light to a new climate deal to make the e.u. carbon neutral by 2050 all states voted in favor with the exception of poland which

has until june to decide all and still relies heavily on coal as an energy source. e.u. leaders have also agreed to extend sanctions against russia for its role in ukraine the sanctions were 1st adopted in july 24th following russia's annexation of ukraine's crimean peninsula and its support for promised separatists in the east of the sanctions are reviewed every 6 months. that's all from me and the business team here and if you want more check out our website. dot com slash business now straight. for the news that's next after this quick update on global.

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of this as you know we do use live from berlin with briggs it in the back it also serves go for boris johnson and his conservatives after this secured a stunning victory in the u.k. election i'm back in downing street mr johnson had this message for the voters and we will work round the clock to repay your trust and to deliver on your priorities with a parliament that works for you and there's world belief in europe that the uncertainty of the brics it is now over there is also a break a dead.