this comes ahead of his meeting with japan prime minister fumio kishida next month. our business correspondent has more from new york. president biden is taking a stand against a deal in the making. us steel, an american company, is set to be brought by nippon steel, a japanese company but president biden says that us steel should stay in the us. the president praised the iconic 123—year—old american steel company and said it's vital that the company remain owned and operated in the states. this is a big deal and notjust politically. nippon steel is set to pay $14.9 billion to acquire the us giant. but politically, this is territory president biden knows well. he has cast himself as a champion of the working class and called himself the most pro—union president in history. he made headlines for walking the picket line with striking auto union workers last fall. unionised steelworkers could lend the president support in his election bid. they form the largest industrial union. and for his part, donald trump pledged to block the deal if he takes the white house again.

on tuesday, japanese prime minister fumio kishida told a news conference that the country was only atecades of deflation. it comes after the bank of japan raised interest rates last week for the first time in 17 years. neil newman ofjapanmacro.com helped us make sense of the data. i think actually if there is releases today, the retail sales is the one i'm really going to be focusing on because this is obviously an indication of the japanese and their consumption trends at the moment. so it's probably a little bit early in the year to see this really filter through because we have the the wages coming through a bit later in the year. that's very encouraging. actually more than doubling. this suggests to me three things possibly happening here. while people are making more money on the stock market now they have a bit of extra cash in their pockets. and spending it. within the numbers so far we can see that textiles are quite strong. that would suggest people are going out and buying clothes. certainly during february there's a warm spells so people are probably going out and buying so

but prime minister fumio kishida says the country is only at the "half way" mark to end decades of deflationamura, portfolio manager at neuberger berman. he expects the survey will show sentiment continues to improve among japanese manufacturers. this take on business confidence survey comes out every quarter, and i think in recent quarters we have started to see a pick—up in sentiment improving. we should continue to see that trend especially for large manufacturers with experts, of course, semiconductor related names. what i will be looking for is on the small to midsize companies, whether that sentiment is being reflected there. and of course the company's ability to continue to see higher prices going forward and that should be a good indicator of whether that's positive feedback cycle of rising prices are sustainable going forward. what does that lead _ sustainable going forward. what does that lead to _ sustainable going forward. what does that lead to your _ does that lead to your expectations for policy? the bank ofjapan _ expectations for policy? the bank of japan was _ expectations

on tuesday, japanese prime minister fumio kishida told a news conference that the country was only ates of deflation. it comes after the bank of japan raised interest rates last week for the first time in 17 years. neil newman ofjapanmacro.com helped us make sense of the data. the retail sales broader number far ahead of the survey coming in at +4.6% year on year. the survey was saying +2.9%. so that's very encouraging. and also within the department store and supermarket sales up 7.2% year on year — again very strong. actually more than doubling last month's number. this suggests to me actually three things possibly that are happening here. 0ne, people are making more money on the stock market now, so they have a bit of extra cash in their pockets and they are going out and spending it. within the numbers so far, we can see that apparel textiles are quite strong. apparel textiles were quite strong. so that would suggest people are going out and buying clothes. certainly during february, there was a warm spells so people were probably going out and buying some spring and summer clothe

military command in japan and the plan will reportedly be unveiled when biden hosts kishida in aprilte house. annabelle: perhaps more of the snooze the meetings of the year so far but we are watching the japanese yen, around the 151 mark. we have were further intervention coming through from japan currency chief masato kendall and he says -- masato kanda. there is the risk rising of intervention. we have not heard from him since february, so it is a bit of time between comments and a longest -- longer salvo we've had for him in months. in terms of equities, we are setting up for weakness in the session and it follows through from the wall street day on friday because we had some weakness at the end of the week. but still, very much the watch on the market reaction to the boj decision. paul: it was very well signaled and played out very much as expected. let's talk about the changes to japan's monetary policy. but it can mean for financial regulation and the implications for the future of fintech as well, the financial services agency of japan is a government regulator overseeing the

whenjapanese prime minister fumio kishida and his wife visit the white house for an official state visitapshot of the country's struggling housing market, with new home prices falling by 1.4% in february from the same period in 2023. the real estate sector makes up roughly a third of the chinese economy and has been in a severe state of crisis. but, could there be some green shoots? here's our asia business reporter katie silver. china's new home prices have been falling. in the month ofjanuary, they dropped by almost three quarters of a percent from the same time a year earlier. it was the steepest drop in almost a year and represents just how unconfident people in china are about buying up property. now, for years, investing in real estate is a fundamental part of the chinese dream. individuals borrowed to buy new condos, and the developers that built these properties also borrowed up big. the government liked it. it created jobs. companies formed to supply these developers, and the property sector became a pillar of the country's economic growth. the problem was you had skyscrapers ac

general , to resist china, and here we can add to this, that there will be a meeting in april biden and kishida and that the americans are now trying to use japan both against us and against ukraine, so that japan would transfer weapons to the united states, and the united states would accordingly transfer its weapons to ukraine, that is, there. a further process is taking place, well, plus they are preparing for the balikangan military maneuvers, this is shoulder to shoulder, where almost everyone will participate, the americans, the japanese, the south koreans, and the australians, these will be very big maneuvers, that’s what this whole situation is about, the last thing i want to say is it is surprising, of course, the position of china, you see, china, which practically controls 40% of the philippine gdp, controls 35% of the market, so to speak. uceo , moreover, in export trade, china practically has 30% there, well, they trade about 30 billion with the filipinos, americans 6 billion, but it turns out that the one who is significantly economically and from all points of view is much weaker

japan will still try to arrange a meeting between fumio kishida and north korean leader kim jong-un.is despite the fact that they do not stubbornly agree to it in byeongyang. this was announced by the secretary general of the cabinet of ministers japan's yoshimasa hayashi. according to him, the position of the government of the country of the rising sun regarding the need to solve problematic issues of japanese-north korean relations remains unchanged, and they can be solved, mr. secretary says, only at a meeting of the leaders of japan and the dprk. let me remind you that on march 26, i.e. yesterday, the korean central news agency published a statement by the sister of the leader of the dprk, kim yo-yong, in which she emphasized that the north korean side refuses any negotiations with. japan, and added, she motivated it by the fact that japan continues to remain a hostile country for the democratic people's republic of korea. well, i'll see how this situation develops. well, in conclusion, now, unfortunately, it's official. as a result of the collapse of the bridge named after franc

prime minister fumio kishida has called the launch �*unacceptable�*.hts and freedoms worldwide. 2024 in itself has been called the biggest election year in history, with more than 60 countries, representing nearly half the world�*s population, going to the polls. these elections are taking place against a backdrop of authoritarian regimes in many nations. peter lee, a research fellow, at the asian institute for policy studies told me more about what would be at the top of the agenda at the �*summit for democracy�* in south korea. this summit is the third - since it started in 2021 under president biden in the first international host of this . and really, it is a case - of showing the importance of democratic solidarity in determining - working close together. and a country that made i the transition to democracy and it is really a contrast - with what we see in only a few short kilometres north- of here and continuing regimes in north korea, the i government is looking to champion its achievements on technology and digital- democracy as well. antony b

between president biden, philippine president ferdinand marcos and japanese prime minister fumio kishidaative interest rates and raised the cost of borrowing for the first time in 17 years. the change brings to an end a huge stimulus programme that had been introduced in 2016. the hike means that there are no longer any countries left with negative interest rates. around the world and across the uk, this is bbc news. you're watching bbc news. it was the interview which caused prince andrew to withdraw from all public duties. now his 2019 newsnight head—to—head with emily maitlis has been turned into a film. scoop tells the behind—the—scenes story, with billie piper as the producer sam mcalister, who landed the interview, and gillian anderson playing emily maitlis. although she originally turned down the part as she believed taking on the role of the former newsnight host was too scary. they've both been speaking to our entertainment correspondent colin paterson. tomorrow night, in an unprecedented interview, we will hear from the duke himself. it's newsnight, the movie, or rather, a netf

this comes ahead of his meeting with japan prime minister fumio kishida next month.praised the iconic 123—year—old american steel

ears, no matter what." you can attract, and finally, he wants to meet, japanese prime minister fumio kishida the north korean authorities for the possibility of a meeting with sun marshal kim jong-un, the sister of the north korean leader kim yo-yong reported this, but at the same time immediately added that buzim's wish alone was not enough, and then the quote of the first sisters of the democratic people's republic of korea: as long as japan...is bent on north korea and oppresses our sovereign rights, we will regard it as an enemy, not a friend. the prime minister must know that he cannot to meet with the leadership of our country only because he wants to, or simply because he is determined, she said, as she snapped, and at the same time, the day before kim jong-un visited the training ground again, this time on land. and looked, checked the combat capability of one of the tank divisions, which is called, somehow, even paradoxically, the seoul tank division. let me remind you that the capital of north korea is pyongyang, seoul is the capital of south korea, but he greatly, greatly intensif

this comes ahead of his meeting with japan prime minister fumio kishida next month.y, is set to be brought by nippon steel, a japanese company but president biden says that us steel should stay in the us. the president praised the iconic 123—year—old

japan's prime minister, fumio kishida, has said there's no damage reported from this.an eye on, because south korea is currently hosting the third �*summit for democracy�* — aimed at discussing ways to stop the erosion of rights and freedoms worldwide. 2024 in itself has been called the biggest election year in history, with more than 60 countries, representing nearly half the world 5 population, going to the polls. despite a potentially record number of people casting their vote — these elections are taking place against a backdrop of authoritarian regimes in many nations. peter lee, a research fellow, at the asian institute for policy studies told me more about what would be at the top of the agenda of the �*summit for democracy�* in south korea. this summit is about would started under— this summit is about would started under 2021 - this summit is about would started under 2021 under. started under 2021 under present— started under 2021 under present biden _ started under 2021 under present biden in - started under 2021 under present biden in the - started under 20

it's bound to be a topic of conversation between key allies when japanese prime minister fumio kishidae white house for an official state visit next month. hopefully we'll be getting market reaction and a look at some of the issues with our guest shortly. in the meantime, we are going to stay in the united states: the former treasury secretary in the trump administration steven mnuchin has told the business channel cnbc he's putting together a group of investors to try and buy tiktok. the chinese—owned social media app faces being shut down in the us unless it is sold off — under a bill passed by the house of representatives on wednesday. it's not clear when the bill will go before the senate — which still needs to pass it. i think the legislation should pass, and i think it should be sold. i understand the technology. it's a great business. and i'm going to put together a group to buy tiktok. you're trying to buy tiktok? i am. because this should be owned by us businesses. there's no way that the chinese would ever let a us company own something like this in china. i don't think this

one of these... and here we can add to this that in april there will be a meeting between biden and kishida japan will transfer to the united states weapons. and the united states will accordingly transfer its weapons to ukraine, that is, a further process is taking place there, well, plus they are preparing for the balikangan military maneuvers, this is shoulder to shoulder, where they will participate. almost all the americans, and the japanese, and the south koreans, and the australians, these will be very big maneuvers, and in this whole situation, the last thing i want to say is surprising, of course, the position of china, you know, china, which practically controls 40% filipino gdp, 35% of the market, so to speak, is controlled by huatao, moreover, in export trade, china practically has 30% there, well, about 30 billion. americans 6 billion. but it turns out that the one who is economically significant from all points of view are much weaker, he wins, the one who simply has enormous opportunities to influence the same marcos the younger, the political elite of the philippines, in ord

undershooting would be a huge shock and everybody is pushing for big wage increases including prime minister kishidahis support rating has come to a new low this past week. part of that is households getting really frustrated with the steady decline in real wages as wages don't keep up with inflation. so that would be huge if it did not undershooting. but i think the chances are that that will not happen. everything points to bigger increases. there is so much pressure both in terms of society demands but also the labor market has a chronic shortage of workers and that is forcing companies to lift wages in order to attract the people they need to keep their businesses running. annabelle: are we seeing a virtuous growth cycle in terms of confidence in that real inflation affect? is that leading through to confidence in households and what they are spending, given we are seeing the mystic assets trend lower? brian: that is an excellent question. and no, we really have not. consumer spending in the last quarter, we have revised data a couple days ago and that data was actually revised down. household s

it was kishida in parliament saying the boj can go ahead.ey uncertainty is not whether they go from -10 to 0. if they abandon ycc but also eliminate the reference rate, then the question is what is your intervention policy? they will have to guide us to what extent they went to stabilize the market. tom: the expectation around yield curve control is they drop that? >> a couple of months ago we thought they might phase it. negative interest rate policy and hang onto the reference rate and then abandon yield curve control. we think it happens now but the question is what is your intervention policy. on etf they sit on the portfolio and do nothing, so they will have to send a signal that qt is nowhere on the horizon. tom: it is a dovish hike. when it comes to the bank of england thursday is the decision. marcus not expecting the first got to come through until august. do you think they had the ability to wait until august and do they have to do more if they are starting later? >> we have august as well. they have to wait until august because th

japan's prime minister fumio kishida has offered to meet with north korea's kim jong-un.would be the two nations' first summit in nearly two decades, if it happens. kim's sister, kim yo-jong, announced it today. but, she insisted tokyo accept the north's weapons program and ignore abductions of japanese citizens. japan acknowledged it wants a summit, but with no pre-conditions. the u.s. and britain say china was behind a sweeping hacking campaign against lawmakers, defense contractors, and others. today, they sanctioned a company said to be a front for beijing. the u.s. justice department said it underscores "the potential for cyber-enabled foreign malign influence, as we approach the 2024 election." the european union launched new anti-trust probes into apple, google, and meta today. regulators say the tech giants may be violating a new digital markets act which aims to help consumers move freely between competing services and not be cornered by so-called gatekeeper companies. >> consumers must have access to all the necessary information about their choices. gatekeepers

. >> reporter: it's important to note that japan's prime minister kishida has been invited to the whitet for the japanese prime minister in terms of optics back at home. his approval ratings are down, and there's no guarantee he's going to be able to push through a lot of these security plans. he will also be giving a speech to congress on the importance of the u.s./japan alliance in countering china. those will be words that will be very closely watched here in beijing by officials within china's leadership. >> janis mackey frayer live in beijing, thank you very much. >>> federal authorities are investigating meta platforms, the owner of facebook and instagram, for its role in the elicit sale of drugs, according to the "wall street journal." on friday, meta's president of global affairs says the company has joined an effort with the state department and others to help disrupt the sale of synthetic drugs online and educate users about the risks. for more, let's bring in cnbc's dom chu. >> it's part of a criminal grand jury probe looking into the matter. that's according to the "wall str