i'm joined now by dharshini david. you have been looking at the economic picture of all of this.otic detail and they represent 90,000 businesses or something. —— the last 2a hours a chaotic detour. some people call what happened in westminster a dramatic soap opera but it has unearthed fault lines in our leading party. that could mean we will see the volatility that we are used to seeing from the currencies of emerging markets. what does this mean for bricks and mortar companies, people who have got to put their money where their mouth is, make plans because the clock is ticking? we talk about 100 shopping days until christmas. 100 days until brexit. what should they do? many business leaders are having to ask we are having to press the button on contingency plans that we did not expect to make. that is like buying an umbrella. it doesn't matter whether it rains or not after that, you have spent that money and that money is gone and you cannot spend it on other things. that disruption is very real. some businesses start saying to us that it affects their hiring plans going forwar

dharshini david is our economics correspondent. it has been one of those weeks, how have you coped?but it will be one of those weeks we look back on and goat this is the week the markets woke up and realise the global growth party is over. it may be a false alarm but it does feel like there has been a shift this week. we had richard talking about what has been happening in the markets around the globe. the last time we saw the uk market is falling on this scale was the 24th of june market is falling on this scale was the 24th ofjune in 2016. that was uk, but this is about the global growth picture. the headlines have been all about trade growth, but we are at that point in the cycle when interest rates are biting in the us. all the tax trump cuts will ease. many economists will say we knew things would slow down. i was talking to want earlier who said we are now pencilling in a one in three chance of an outright recession in the us. if you look at the bond markets, the returns on various bonds, it is a pattern that sometimes signals a recession on the cards. those tea leaves are not

slowed sharply — despite a strong black friday for some retailers. 0ur economics correspondent dharshini davidg the festive cheer this year. be it from the bank of england, retailers or shoppers. everyone is worried with brexit and the uncertainty going on and it makes you think twice about what you spend. i spend what i really have to spend. i spend what i really have to spend on at the moment and do what i can only afford to do. online retailers on the whole are beating the uncertainty better than most is now taking more than one in every £5 spent, but even this online gift specialist supplying 4.5 million christmas presents, is working hard. we saw a spike around black friday and cyber monday, we invested behind that and then we saw customers pulling back and we have to monitor that, but what we have noticed most recently is a push towards last—minute shopping. we see this every year, it gets later and later. household spending drives growth and makes up two thirds of our economy but over the last three months the pace at which retail sales is expanding has slowed, something the governor of

dharshini david, bbc news. whiskies found that more than a third of the bottles' contents were fake. the research, at a carbon dating laboratory, established that 21 out of 55 whiskies were not what they claimed to be. at least one of them didn't even qualify as whisky. james shaw reports. vintage whiskeys can cost thousands of pounds. these bottles may look like the real thing, but they are not what they seem. scientist at the scottish university's environmental research centre spent nine months testing allegedly vintage whiskeys and made some surprising discoveries. we have tested 55 bottles of single malt scotch whiskey out of 21 approved to be fake. we have tested bottles that are meant to be from the 1850s. clearly they were not. the liquid was dated to the 1980s. the team used radio carbon dating to pinpoint the age of the whiskeys they were testing. the technique is based on radio carbon dating. we have to take a sample through the cork as carefully as we can, probably about a millimetre or so. then we h

dharshini david, bbc news. fighting the islamic state group. he said the us didn't want to be the "policemen of the middle east", and called on other countries to take up the fight. us political figures and america's allies — including the uk — have expressed grave concern at the decision, and the fact they weren't consulted. the kurdish—led alliance in syria — in dark green here — said the decision would allow the islamic state group to recover. 0ur correspondent mark lowen reports from turkey. today's military flourish in ankara was all the more upbeat. the turkish and iranian presidents have got what they wanted — the us out of syria. donald trump's withdrawal frees them up to extend their influence and pursue their own aims in the war—ravaged country. president erdogan insisted he wants to bring syria's fighting to an end and establish peace, but he's got other targets too. the syrian kurdish militia, or ypg, have fought side by side with american troops, battling and dying against so—called islamic state.

in a moment, we'll talk to dharshini david about the latest warnings from the bank of england, and we'llamian grammaticas about events at the european court ofjustice. but first, our political editor laura kuenssberg. defeat after defeat for the prime minister today, a big day of setbacks. huge and you have to go back to the 19705 for its equivalent. even though theresa may has had so much turmoil and so many travails in the last 18 months, she's only actually been beaten in this way twice before. so a huge day, this hat—trick of humiliation for the prime minister, all of it happening before she had to get to herfeet happening before she had to get to her feet to even begin making happening before she had to get to herfeet to even begin making her ca5e. herfeet to even begin making her case. if you are going to focus on one of them, would it be that motion brought forward by dominic grieve, the former attorney general? brought forward by dominic grieve, the former attorney general7m certainly would and to remind people clearly what that was about, e55entially, mp5 today voted to give the

with me is our economics correspondent dharshini david.as having a tough time but now online is a trickle into that realm? a devastating blow we received this morning. last week we had warnings for the likes of prime alchemy house of fraser, saying it has been a bad month for the high itself in november. over the weekend, month for the high itself in november. overthe weekend, more figures showing fewer of us visited the shop than the same weekend last year. now we get this morning from asos. it had been the darling of the fashion scene, that big online retailer, that success story we couldn't get enough of. originally known as as seen on tv. now it says it had very bad november sales and had to slash prices to keep up with its competitors and that doesn't seem to have worked. this morning, shares across the board are suffering as a result, because investors are saying, if asos can't make this pay, who can? this is devastating news, notjust for retailers. we could see more warnings over the course of the week, but also for the economy as a

our economics correspondent dharshini david joins me now with the details.turies. what do they mean? it is a grim warning. not what you want to hear when you are thinking about spending at christmas but it comes just after we were told prospects in the jobs but it comes just after we were told prospects in thejobs market but it comes just after we were told prospects in the jobs market had never been better. what is going on? we can look at the figures because we heard 32.5 million people in work. pray —— pay growth, 3.2%. but thatis work. pray —— pay growth, 3.2%. but that is what is happening now and if you look at the past decade, the tuc says that pay rises failed to keep pace on the whole with the cost of living which means people are in effect worse off in real terms and living standards are lower and the worst affected the likes of london. people fare, £20,000 worse off than they would have been claims the tuc if pay kept up with inflation since the financial crisis. because the cost of living tends to be more expensive in big cities. and wages tend t