welcome to business today, live from new york. ces a choppy day of trading this wednesday — and a record yearfor the music business — as annual sales in the uk outstrip the peak of the cd era. welcome to business today, live from new york. wall street faces a choppy day of trading this wednesday — after a report by cnn that president—elect trump on his return to the white house could declare a national economic emergency to take power over us trade policy. the move would give him wide ranging emergency powers to manage imports. easing tensions a little though, a private labour market report by payrolls firm adp showing us employers added fewer than expected jobs in december. that's boosted hopes as far as more interest rate cuts from the federal reserve. this comes ahead of closely watched official jobs numbers on friday. let's bring in mike mussio, president of fbb capital partners — a wealth management firm based in bethesda maryland. welcome. if you can look at stocks and bonds this morning, it is shaky, they are struggling to r

hello and welcome to business today. i'm steve lai.e start in the us where firefighters in los angeles are making progress in battling wildfires across the city. one smaller fire was contained on sunday, but two of the largest blazes are still raging. 2a people have died according to officials. there are fears of more devastation to come as strong winds are forecast for the coming days, raising the threat that the fires could spread. private forecaster accuw eather estimates that the disaster —— accuweather estimates that the disaster will result in losses exceeding $250 billion. california's governor gavin newsom said in an interview with nbc news that this could be the costliest disaster in us history. is or will it be the worst natural disaster in the history of the united states? i think it will be in terms ofjust the costs associated with it, in terms of the scale and scope. governor newsom also signed an executive order on sunday which suspends some environmental laws, aimed at helping los angeles rebuild faster. much of the focu

hello and welcome to business today. i'm steve lai. we start in the us, where firefighters with it, in terms of the scale and scope. governor newsom also signed an executive order on sunday which suspends some environmental laws, aimed at helping los angeles rebuild faster. much of the focus would be on constructing buildings that can withstand future threats. kate cotter is the founder and ceo of the resilient building council in australia — a country that frequently experiences wildfires. she said the damage in los angeles was "eye—watering". la fires are absolutely catastrophic. we haven't seen single fire events in australia, you know, more than a few thousand building losses. so seeing that go over the 10,000 building amount is just eye watering, it is so devastating. so, what we find is similar is that fires burn homes down in the same way, they need the same things, fuel and wind and steep terrain, and both countries have got those things that make them fire prone. what is, i guess, different is that la has got which suspends so

hello and welcome to business today. i'm steve lai.he latest minutes from the federal reserve show that officials were eager to slow the pace of interest rate cuts this year. they cited rising inflation risks on the horizon as donald trump return to the white house. our correspondent has the details. the minutes from the fed meeting in december show officials have adopted a new stance when it comes to interest rate cuts amid upside risks to inflation. policymakers are in no hurry to cut rates and would like to see more evidence that price increases are settling down. the minutes site, fed officials also expressing concern about the impact president elect donald trump's policies could have on efforts to reduce inflation. without calling out trump by name, the meeting summary featured at least four mentions about the effect that changes in immigration and trade policy could have on the us economy. in december, us central bank has cut their benchmark lending rate to a range of 4.25 to 4.5% for the third time in a row. a new forecast relea

hello and welcome to business today. i'm steve lai. the us supreme court is set to hear arguments on friday on an impending law what would force the chinese company bytedance, to sell social media platform tiktok to an america company, or bebanned in the us. the bbc�*s north america technology correspondent has more on how this could unfold. congress passed that law in april on national security grounds. lawmakers expressed concerns that tiktok�*s chinese ownership, bytedance, means that the data of millions of americans could be compromised, and that they are also prone to manipulation by china's communist party. tiktok has consistently denied those allegations. they have expressed confidence that they will get the outcome that they seek from the supreme court. president—elect donald trump, meanwhile, has weighed in, despite once trying to ban the app himself. he has now filed a brief in this case asking the supreme court to temporarily block the law so that he can try to save it. tiktok has repeatedly denied any potential influence b

welcome to business today, live from new york. to a strong start today at the opening bell, after new data eased inflation fears. the december producer price index — which tracks prices at the �*factory gate�*— rose 3.3%, below expectations, raising hopes that the federal reserve can cut rates. additionally, reports suggest the trump team is considering a gradual approach to raising tariffs to avoid a sudden spike in inflation. let�*s cross live now to ed moya, senior global macro analyst at alphasense — that�*s an ai powered research and data platform. thanks forjoining us. let�*s begin with the ppi report. it�*s not cpi which is out tomorrow but this is a mild report — no increase in the cost of services. so is it a good sign on inflation? a lot of investors are breathing a sigh of relief, and it is ppi, and everyone will be focused on the cpi reading tomorrow, but there was an expectation because of the rise in energy prices throughout december, and because the services report said prices paid rose significantly, there was an e

thank you for watching business today. you that right now.cial markets with the benchmark korean index trading 0.2% higher. you can find out more of our coverage on south korea on our live page which is “p korea on our live page which is up and running and available. you could also find it on our mobile app as well. more on this story at the top of the hour and newsday. thank you for watching business today. it's lucy with the catch up. an appealfrom police in london. tiktok being replaced. and some lighter news as well. there is ongoing talks to try and secure a deal for a ceasefire in gaza for the release of israeli hostages in exchange for palestinian prisoners. those talks are being held in doha, qatar is the key mediator. it says an agreement is very close but it also says the deal could still fall through. it is believed there would be different phases to the deal with a number of israeli hostages released on day one and then israel beginning to withdraw troops from gaza after that. if you want the latest on that it's on the bbc news we

welcome, this is business today.rt in the united states, where president—elect donald trump has repeated his desire to take control of both greenland and the panama canal. at a press conference at his estate in florida, he shared more details of that aspiration, and has some of donald trump of that aspiration, and has some of donald trumer was actually in greenland on tuesday, and what he called a personal day trip to people. this is a very deliberate signal of intent, of donald trump's genuine desire to take over greenland. it is no coincidence that his son, donjunior, landed there. just here as tourists. it may look like he has come for a property viewing, trump style, before trying to buy the island. he says that is not the case. do you have a message from your father? he says hello. 0k. to you? we were talking to him yesterday. so he says hello to everyone in greenland. 0k, are you still interested in buying greenland? greenland is controlled by denmark, whose prime minister says it is very much not for sale. its

welcome to business today.e start in the uk where there's a been a sigh of relief as the inflation rate unexpectedly dipped in decemberfor the first time in three months. the consumer prices index rose by 2.5% in the 12 months to december last year, according to the office for national statistics — that's down from 2.6% the previous month. restaurants and hotels helped keep the rate down, with transport pushing prices higher. despite a slight fall, the rate is still above the bank of england's target of 2%. the base rate of interest in the uk currently stands at 4.75%, but expectations for a rate cut next month have grown following today's unexpected fall in inflation. the latest figures come after pressure has increased on the public finances in recent days due to government borrowing costs hitting their highest level for several years. let's speak now to ellie henderson, uk economist at investec. talk to me about this number today. it isjust talk to me about this number today. it is just one number, talk to m

hello and welcome to business today. i'm steve lai. let's begin in north america, where the mexican government has launched a plan to shrink its trade deficit with china, which stood at $105 billion in 2023. it comes weeks after the country rolled out tariffs appearing to target popular chinese online retailers shein and temu. in a speech on monday, mexico's president claudia sheinbaum said the country aims to boost the local production of textiles and cars. she added that a trade agreement among the united states, mexico and canada is quote, "the only way we can compete with asian countries, in particular with china". translation: i also highlight the respectful _ translation: i also highlight the respectful and _ the respectful and collaborative relationship during the first term of donald trump with the then mexican president particularly the signing of the trade agreement between canada, mexico and the united states which has greatly benefited our people. the mexican leader's comments are seen as a nod to us president—elect donald

coming up on business today, making the most of trump's tariffs that, we look at countries looking toworld and across the uk, this is bbc news. the company behind tiktok has moved to reassure its staff that they'll still be paid next week, even if the us supreme court upholds a biden administration law which says the apps american business must be sold off or closed down. the law comes into effect on sunday. for more, mariko oi is in our asia business hub for us. you can't blame employees for being worried. absolutely, we keep talking about tiktok users in america, but by dance, the parent company, also employs 7000 staff in the us and there were reports about how they have been voicing concerns aboutjob have been voicing concerns about job security and have been voicing concerns aboutjob security and in an internal memo that has been reviewed

welcome to business today with me. we begin with our top story can after nearly a decade as prime minister, canada'sjustin prime minister, canada's justin trudeau prime minister, canada'sjustin trudeau has announced that his resigning. he's been facing mounting clinical pressure after the surprise resignation of ally and finance minister. general elections will be held in late october if not earlier after which he will step down once a new party leader is elected. justin trudeau's departure about the country's economic direction in 2025. the asia—pacific foundation of canada explains how the uncertainty will impact the country's trade relations in business sentiment. in the nine years that trudeau was in power, he was focused on growing canada's trading relationships and diversifying our trade because majority of canada's trades, 76%, is dealt with the united states. but of course, we have signed a number of treaty agreements in the last ten years focusing on asia so there is cptpp, the comprehensive and progressive of

live from new york at the opening bell, this is business today. wall street opens in the red over fears interest rates may stay higherfor longer. this afterjobs growth for december blows through market expectations and unemployment dips. tiktok�*s last chance — the social media platform will make final a plea at the supreme court today to try to avoid a us ban. also coming up... counting the economic cost of la's devastating wildfires — losses are expected to exceed $135 billion as fierce winds threaten more destruction. welcome to business today, live from new york, i'm ritika gupta. we start here in the us where stocks are under pressure on the latestjobs numbers for december which have come in much higher than many anticipated. blowing through many expectations, the read is that the strength in the economy will make it less likely the us central bank will lower interest rates going forward, something markets don't like. the cost of us government borrowing in the form of bonds has gone up on the news as investors churn through the numbers. joini

hello and welcome to business today. i'm steve lai.et's begin in south korea where investigations have —— arrested the impeached president yoon suk yeol. the first sitting president to be arrested and he is at the anticorruption agency office. police tried to rest some earlier this month. so far there has not been a major impact on korean marketsjust yet the benchmark kospi trading at 0.3% higher. more on that story later on newsday, in the united states. social media giant meta has said it will cut its workforce by 5%. plans to lay off workers at the owner of facebook and instagram come on the same day that another of america's tech giants, microsoft, said it would pause hiring in a major unit in america. michelle fleury reports from new york. ina memo in a memo to staff mark zuckerberg said 2025 will be an intense year for the company as it works on building what he described as some of the most important technologies in the world. mr important technologies in the world. ~ , ., important technologies in the world. , ., ., world. mr z

this is business today. i'm sally bundock.for the world's leading stock markets. last year proved to be another bumper one for the so called magnificent seven — that's the us tech giants apple, nvidia, microsoft, alphabet, amazon, meta, and tesla. in ten years these seven stocks have gone from representing less than 10% of the s&p 500 to grow at breakneck pace. together they're now worth more than 35% of the s&p 500. and because of their gains the index has risen more than 20% for the second year in a row. let's hear now from dan kemp, chief research and investment officer at morningstar nvidia — the big star performer, up 180% in 202a. good morning to you. why would imagine that every fund manager around the world has got to have some of these seven in their fund. have some of these seven in their fund-— have some of these seven in their fund. well, hello, sally, and happy — their fund. well, hello, sally, and happy new— their fund. well, hello, sally, and happy new year. - their fund. well, hello, sally, and happy new year.

hello and welcome to business today. i'm steve lai. is currently in south korea and has been holding talks with foreign minister cho tae—yul. blinken reiterated his trust in the resilience of south korea's democracy and the leadership of acting president choi sang—mok. all this comes after police attempted to arrest suspended president yoon suk yeol on charges of inciting an insurrection last friday. but presidential security forces intervened, preventing the arrest, while hundreds of his supporters gathered outside his compound. economist krystal tan took me through the effects this tense political situation is having on the economy. the political turmoil is exacerbating economic headwinds in south korea. economic activity ahead of the turmoil was already showing signs of weakening. you know when you look at manufacturing, construction, services activity had slowed in november. if we looks like we will get further weakness in domestic demand. consumer and business sentiment have been shaken, now at levels not seen since the pandemic.

now, i mentioned it is a really busy programme, jampacked senex we have business today with loss of businesshey have announced this morning that 2024 was actually one of best years in history so the luxury car maker recording their highest ever annual sales figures. the reason why? the ultra rich are ordering bespoke rolls—royce cars which are being made in goodwood so consequently they are expanding significantly their operations in goodwood. the boss will be talking to me live in around 15 minutes time. let's show you what is going on at the moment in los angeles, where they have declared a state of emergency as wildfires have exploded from ten acres to more than 2900 acres. this happened in a matter of hours. you can see these pictures. the fire chief kristian croley said modern 50,000 people are now under evacuation orders. 13,000 buildings are under threat and you can see the footage showing clearly the plumes of smoke above the state. houses are on fire in the pacific palisades area. this is a very upmarket area. this is a very upmarket area near santa monica where residents have had t

live from new york at the opening bell, this is business today.ward to a new political landscape and more rate cuts. we'll unpick all the key details injust a moment. plus, the end of an era — russian gas exports to europe via ukraine are finally shut off. but what are the long—term implications? and, stubbed out. belgium becomes the first european country to ban disposable vapes — with france, ireland and the uk set to do the same. but will it just just boost the black market? welcome to business today, live from new york, i m michelle fleury. let's start on wall street, which is continuing its 2024 rally on the first day of trading this year. the nasdaq is up over one perecent, as investors look forward to president—elect donald trump taking office at the white house. he'll be taking over an economy which is reasonably good shape, with more rate cuts predicted this year. today, investors will be keeping a close eye on tesla, which will be reporting its latest quarterly sales later today. we're now joined by christopher carey, who's a portfolio m

live from new york at the opening bell, this is business today. this afterjobs growth for december blows through market expectations and unemployment dips. tiktok�*s last chance — the social media platform will make final a plea at the supreme court today to try to avoid a us ban. also coming up... counting the economic cost of la's devastating wildfires — losses are expected to exceed $135 billion as fierce winds threaten more destruction. welcome to business today, live from new york, i'm ritika gupta. we start here in the us where stocks are under pressure on the latestjobs numbers for december which have come in much higher than many anticipated.

and that's it for this edition of business today. thanks for watching. see you again soon.tsday with me, chetan pathak. coming up on the programme: not many gave manchester united a chance at anfield, but amad is on hand to hold top—of—the—table liverpool to a 2—2 draw in the premier league. the most followed rugby union player in the world on social media. we speak to american superstar ilona maher as she makes her women's premiership debut for bristol bears. and coco gauff and taylor fritz help the united states to victory over poland in the united cup final in sydney. welcome along. thank you for being with us. despite overnight snow, both of sunday's premier league games went ahead, including at craven cottage, where fulham drew 2—2 with ipswich, and at anfield, where manchester united put in an improved performance to draw 2—2 with the league leaders, liverpool. ruben amorim's side went into the game having lost their last four in all competitions, but were the first to score through lisandro martinez early in the second half. mohammed salah's penalty saw liverpool tur

business and increase hiring. so the question is what led to all this optimism? i'm here today to tell you this surge in small business optimism and everything that flows from that didn't happen just by accident. it's not the result of some cyclical realignment. it's not happening because of public policy decisions that were made years ago. it is happening i believe as a direct result of this presidency leadership. both the tone and the policies coming out of washington are different. small businesses see a president who was not only bullish on america but also aggressively driving bold, pro-growth public policies. here's what's happening as result. unemployment claims today they are at their lowest levels since the early 1970s. the unemployment rate is at 3.9%. african-american employment rates are at their lowest levels ever recorded. unemployment among women is at the lowest level in 18 years. last month the federal government took in a record $218 billion surplus. inflation is barely above 2%, and wages are rising. you're right, andrea, those graduating classes today e real

welcome to business today, live from new york. prices at the �*factory gate�*— rose 3.3%, below expectations,

hello and welcome to business today. i'm steve lai. to the tech world, where consumer electronics show 2025 kicked off in las vegas. nvidia ceo jensen huang is delivering his keynote address probably the most important address at ces this year. we did see the rtx 50 series debut. they are much more powerful but we see better and better chips every year at ces. what was really imprtessive to me was that the prices are going down. jensen huang just announced that you're going to be able to get an ai pc starting at $1300. there are about 200 million pcs shipped every year. this is the next phase of growth for them. the price point is correct so i think there's correctly a lot of enthusiasm by the investor community and the tech community in nvidia right now. nvidia has been showing great strength over the last year or so as ai has gathered pace and that shows no sign of slowing down? it doesn't but companies like openai are losing billions of dollars a year and so how to monetise ai will creep into the narrative. if the hyperscale data ce

live from new york at the opening bell, this is business today. investors await us economic data due in the next hour which could set the scene for all important numbers on friday. also on the radar, but scrap over metal. nippon still comes out fighting as it tries to salvage its takeover of us steel. terminal up north, could political upheaval in canada reshaped relations with one of america's biggest trading partners? also coming up, tech tensions flare with china as the us accuses tencent and others of involvement with beig and's military. and the annual consumer electronic show gets under way in las vegas. welcome. us shares are moving cautiously higher at the open after a strong run for tech shares on monday. investors are holding fire ahead of the economic data out in the next half an hour that could set the scene for those all—important scene for those all—importa nt jobs scene for those all—important jobs figures on friday. one bright spot, ai chip. getting a boost after an upbeat presentation of some new products at the consumer electroni

welcome to business today. we start in the us where, in the next few hours, president biden is set to block a $14 billion takeover of us steel by its japanese rival, nippon steel. that's according to sources speaking to both reuters and the washington post. but with just days left in the white house for biden, the big question is whether the incoming trump administration will reverse the decision and allow the controversial deal to go ahead. our asia business reporter mariko oi has more. there were reports that president biden will decide on the deal soon and according to the washington post and reuters, he will likely block the deal. that's despite reports that nippon steel has proposed to give the us government veto power over any potential cuts to us steel's production capacity. that was one of the major concerns of the union, that nippon will eventually cut steel production in the united states and maybe start importing cheaper steel from japan, for example, which of course would then affect the employees�*

welcome to business today. to germany where the economy shrank last year, for the second year in a row. initial calculations show gdp in europe's biggest economy fell by 0.2 percent. analysts blamed factors including german exports facing increasing competition in key markets and high energy costs. the news comes less than six weeks before general elections. the main governing party, chancellor olaf scholz�*s social democrats, is currently lagging in third place in opinion polls. salomon fiedler is an economist at berenberg bank. he told me more about the challenges facing germany. the number itself was not unexpected at this point. even this has not continued for roughly three years. so not looking that great for germany at the moment and, we have to say, it's not only a cyclical problem at this point but rather a structural one. so this number underlines really the need for large scale reforms that the economy needs if we want to see more growth going forward. if we want to see more growth going forward-— goi

hello and welcome to business today. i'm steve lai.n the us, the latest minutes from the federal reserve showed that officials were eager to slow the pace of interest rate cuts this year. they cited rising inflation risks on the horizon as donald trump returns to the white house. of the minutes from the fed meeting in the summer show officials have adopted a new stance when it comes to interest rate cuts amid upside i'm steve lai. in the us, the latest minutes from the federal reserve showed �*to that officials were eager to slow the pace of interest rate cuts this year. they cited rising inflation cuts this year. they cited rising ii as tion cuts this year. they cited rising ii as donald trump returns horizon as donald trump returns to the white house. of the minutes from the fed meeting in the summer show officials have adopted a new stance when it comes to interest rate cuts amid upside risks to inflation. policymakers are in no hurry to cut rates and would like to see more evidence that price increases are coming down. the minutes,

welcome to business today, i'm tadhg enright.sh government has been defending its handling of the economy after a turbulent day on the markets on thursday saw the pound drop to its lowest level in more than a year and government borrowing cost surge to a 16—year high. today, sterling is down once again as pressure mounts on chancellor rachel reeves. she's on her way to china with a delegation of city executives, as labour seeks closer economic links with beijing as part of its quest for growth. our asia business reporter sura njana tewari has more. rachel reeves under quite a bit of pressure over this trip to china, given what's going on on the uk markets. but the goal could actually ultimately benefit the uk economy, with her defenders saying the trip is important for uk trade and investment. china is the uk's fifth largest trading partner, with $68 billion worth of trade going from china to the uk last year. now miss reeves will be the most senior british official to visit beijing in seven years. amidst, as you mentioned, a con

hello and welcome to business today. i'm steve lai. before we get to our top stories, we begin in south korea where investigators have arrested impeached president yoon suk—yeol. he is the country's first ever first sitting president to be arrested. he was detained after an hours—long stand—off the police had attempted to arrest him earlier this month, but failed to do so following a stand—off with the presidential security service. so far there hasn't been a major impact on korean marketsjust yet, with the benchmark kospi index currently trading 0.3% higher. to the united states now, where social media giant meta has said it will cut its workforce by 5%. plans by the owner of facebook and instagram to lay off workers come on the same day that another of america's tech giants, microsoft, said it would pause hiring in a major unit in america. michelle fleury reports from new york. in a memo to staff, mark zuckerberg said 2025 will be an intense year for the company as it works on building what he described as some of the most important

that's it for this additional business today. back at the top of the hour with newsday. in the meantime, sports is next. hey, it's lucy with the catch—up. tonight allegations against mcdonald's, meta makes changes and a well—earned retirement. first tonight, a 14—year—old boy has been stabbed to death on a bus in southeast london. he was killed this afternoon. no arrests have been made. that story is on the bbc news website. mcdonald's workers have said they are still facing harassment and sexual abuse. a year ago the boss promise to clean ahead at the company. matt used to work in mcdonald's. he said he quit because of a toxic work environment. for me it was being bullied for having a learning disability, having a problem with my eye. the boss in the uk said 29 people have been dismissed over sexual harassment allegations in the past 12 months and in the alleged cases published today were unacceptable. some other stories now. meta is getting rid of independent fact checkers on facebook and instagram. commenting on the accuracy o

he told business today more about some of the particular barriers holding back germany growth.at very large amounts of structural problems are affecting all production sectors at the moment, bringing growth down. so the amount of labour labour will be lower going forward. and we have an irrational energy policy, making productions much more. we have excessive regulation, which slows everything down, very high tax rates, which sapped the incentives to put an effort in and go for growth opportunities, so a lot of sites where we would need structural reforms. this is an environment. so a lot of potential issues that could be addressed by the next government. in other news... the us markets watchdog — the sec — is suing elon musk, alleging he failed to disclose a large number of shares that he'd bought in twitter before declaring his intention to take over the platform. the lawsuit alleges that the tesla boss saved 150 million dollars, buying the shares at "artificially low prices." responding, mr musk called the sec a "totally broken organisation." us chipmaker intel has said it i

hello and welcome to business today. i'm steve lai. to the tech world, where consumer electronics show 2025 kicks off today in las vegas. nvidia ceo jensen huang is delivering his keynote address probably the most important address at ces ces this year. let's bring in our technology correspondent lily jamali for more. what stood out from huang's speech? hausmann is the rtx 5000 series, new family of chips that use technology to create images that look like something out of a movie. the other thing that stood out was that he was almost making a pitch for al at the top of the keynote. as much hype and excitement as there is around ai, there is still this need to explain the case. what else is getting _ need to explain the case. what else is getting buzz _ need to explain the case. what else is getting buzz at - need to explain the case. what else is getting buzz at ces? - need to explain the case. what else is getting buzz at ces? a i else is getting buzz at ces? little bit of something for everybody here. choose your poison. health, age

amazon ends the right to work from home for corporate staff, welcome to business today.begin with europe's energy security, because the era of cheap russian gas has formally come to an end. russian gas stopped flowing to the eu via ukraine on wednesday, after a five—year deal expired, and kyiv refused to renew the transit agreement, which has been in place for decades. the european commission says the eu has prepared for the change and most states will cope. but hungary and slovakia have remained heavily dependent on russian gas. slovakia's prime minister says his country's interests have been �*trampled'. here's the wider context though, at the time of russia's invasion of ukraine in february 2022, the share of russian gas on the european market was about 35% since then that share has fallen to about 8%, as european countries sought to diversify supplies. as well as investing in renewables, many have moved into lng or liquefied natural gas supplied from other parts of the world, such as the us and qatar. cornelia meyer is an independent energy analyst. she told us the e

welcome to business today, live from new york, i m michelle fleury. we start here in the us, where in one of his final acts as president, joe biden has blocked a m billion dollar takeover of us steel by its japanese rival, nippon steel. the white house says: "the purchaser might take action that threatens to impair the national security of the united states". but with the biden administration in its final couple of weeks, the question now is whether donald trump will stick to the decision to block the deal or reverse it? as our asia business reporter mariko oi explained earlier. this was a question she has been looking at. l115 this was a question she has been looking at.— this was a question she has been looking at. us deal has indicated _ been looking at. us deal has indicated that _ been looking at. us deal has indicated that it _ been looking at. us deal has indicated that it may - been looking at. us deal has indicated that it may file - indicated that it may file lawsuits, including against the biden administration, if the president decides to b

live from london, this is business today. i'm sally bundock. the japanese steel giant nippon steel has come out swinging after its proposed purchase of us steel was blocked by president biden. speaking in recent hours, the chief executive and chairman eiji hashimoto accused joe biden of caving to politically motivated lobbying and acting unlawfully. president biden�*s decision came a year after nippon steel first announced a $14.9 billion deal to buy its smaller pennsylvania—based rival. us steel has warned it might have to close factories without the investment that would come with a new owner, concerns that had been echoed by some workers and local politicians. here's the nippon steel boss speaking in tokyo. translation: due to the illegal olitical translation: due to the illegal political intervention _ translation: due to the illegal political intervention by - political intervention by president biden who responded to political lobbying, the committee for foreign investment in committee forforeign investment in the united committee for for

welcome to business today, live from new york.another negative start for wall street, after two weeks of losses, as investors�* hopes fade for further interest rate cuts from the federal reserve any time soon. a surprise jobs report showing over a quarter of a million newjobs in december suggests the economy is too strong for the fed to ease policy. bond yields are up, and the dollar hits a two—year high, with the pound the biggest loser. tech stocks are also down due to concerns over upcoming legislation. let's cross live now tojim worden, cio at the the wealth consulting group. thank you forjoining us. as you just heard, the us dollar rising, bond yields are surging around the world, what is it a sign of? i around the world, what is it a sin of? ~ , , around the world, what is it a siunof? ~ , , ., , sign of? i think this is really the markets _ sign of? i think this is really the markets are _ sign of? i think this is really the markets are still- sign of? i think this is really the markets are still trying. sign of? i think th

welcome, this is business today. i want to start with news from the japanese giant nippon steel.has come out defiantly after his proposed purchase was blocked. chief executive has accused mr biden has caved to politically motivated lobbying. president biden comes a year after nippon steel first announced a $14.9 billion deal to buy its pennsylvania based rival. here is the boss of nippon steel speaking. is the boss of nippon steel speaking-— is the boss of nippon steel s-ueakin. , ., . speaking. due to the illegal olitical speaking. due to the illegal political intervention - speaking. due to the illegal political intervention by - political intervention by president biden, the committee for foreign investment in the united — for foreign investment in the united states fails to review it properly. it has led to the presidential order. we can never_ presidential order. we can never accept it. what president—elect trump has said is that— president—elect trump has said is that he — president—elect trump has said is that he wants to make manufacturing strong again. and enrich _ manuf

live from london this is business today, i'm sally bundock. here in the uk where the government is set to outline its plans today to use artificial intelligence to boost economic growth and increase efficiency. called the ai opportunities action plan, it's being billed as a gamechanger by the prime minister sir keir starmer. he says ai will "drive incredible change" and that the plan "will make britain the world leader". the plan will be backed by leading tech firms, which are said to have committed some £14 billion — thats around $17 billion — towards various projects. creating over 13000 jobs. it includes plans for growth zones where development will be focused and the technology will be used to help drive efficiencies in public services such as the nhs a result of the government's first budget. keir starmer is hoping that if aa is fully adopted, it could transform lives and drive growth. how will it work in the real world? keir starmer is likely to say it could help cut teachers admin task time, assist doctors in treating patients and even

welcome to business today. we start though with tiktok. the company behind the popular social media platform has described reports that it could sell its us operations to elon musk as "pure fiction". there are just five days to go before a new law comes into effect in the us which would force tiktok to either sell its us operations or be banned in the country. in the meantime, american social media users have been migrating to a chinese—made app called rednote, which became the most—downloaded product on apple's us app store on monday. from singapore, our business reporter mariko oi has the latest. it would have been a fascinating twist in this ongoing story, but tiktok has told the bbc that it can't be expected to respond to pure fiction, referring to that bloomberg report which said that chinese officials might be considering selling tiktok to elon musk. meanwhile, some tiktok users in the united states have been migrating to another chinese app called rednote, which looks a bit like a combination of tiktok and instagram. and its popular

welcome to business today, live from new york, i m michelle fleury.et's start on wall street, which is continuing its 2024 rally on the first day of trading this year. the nasdaq is up over one perecent, as investors look forward to president—elect donald trump taking office at the white house. he'll be taking over an economy which is reasonably good shape, with more rate cuts predicted this year. today, investors will be keeping a close eye on tesla, which will be reporting its latest quarterly sales later today. we're now joined by christopher carey, who's a portfolio manager at carnegie investment counsel. great to see you, happy new year. now the tesla figures, they were less than investors were hoping for, but still it retains its position as the world's top car maker for evs, beating the chinese company? good morning, thank you for having me, happy new year. yes, tesla's results they did not meet analysts�* expectations. only 1% in terms of an annual decline in sales. you�*re saying the stocks are about 4%. they have the best technology in terms

live from london, this is business today. i'm sally bundock.t in the uk, where this morning, millions of visiting travellers will now have to obtain an electronic travel authorisation before entering the country. to receive an eta, travellers will have to fill out an online form and pay a £10 fee or about $12 dollars. travellers from the united states, canada and australia are amongst those affected by today's changes. european travellers will also have to apply for an eta from the second of april. the british government hopes the new scheme will confirm traveller eligibility to enter the uk, before they leave their country of origin. joining me now is patricia yates — chief executive of visit britain. do you think this is a good idea? is do you think this is a good idea? , . ., ., do you think this is a good idea? , ., , ., idea? is it a good plan? if you think of how _ idea? is it a good plan? if you think of how important - idea? is it a good plan? if you| think of how important tourism is to us, it is worth {32.5 billion and it is a great t

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