that is michelle fleury.se grand prix is another event due to take place in shanghai in april but that has been postponed. formula 1 tells us the decision has been made to ensure the health and safety of drivers, staff and fans. staying with the virus, fears of a wider outbreak has sparked panic buying of certain products in places like hong kong and right here in singapore. take a look at theirs. this is a store here in singapore, essentially nervous shoppers emptying cells in supermarkets stocking up on canned goods, facemasks and toilet paper. it prompted singaporean officials do assure “— it prompted singaporean officials do assure —— to assure citizens there would be adequate supplies in case the virus situation worsens. so what is the psychology behind this panic buying? i put that question to and associate professor at nus business school. there are two kinds of uncertainty. the first is that you won't be able to go to the supermarket at all, if the situation gets very bad you may not be able to go. th

michelle fleury explains.ewer players in the market, especially in the telecoms industry, there is a concern that basically pricing becomes the very first thing to suffer. so becomes the very first thing to suffer. so consumers becomes the very first thing to suffer. so consumers ultimately end up suffer. so consumers ultimately end up paying more for their phones. but here is the thing. this deal has been years in the making. as you point out, it was very contentious. dozens of us states mounted a challenge on those lines that less competition would basically mean that people ended up paying more. the decision was such a surprise the approval, the share price of sprint is up 77%. it gives you a sense that investors were really caught off guard by the fact it had been approved. i think what was interesting was that we had from an academic that said actually the merger of sprint and t—mobile, while it has been criticised for this idea that it could reduce competition, may have the opposite effect and enhance co

michelle fleury reports from new york., disney plus's new star wars series, has had a big impact on popular culture thanks to one small but central character. he's been a tv star for months already, a massive hit on social media and now finally the child, a.k.a. baby yoda, is available as a toy so you too can live out your memes. it's just a testament to the power of social media. the character was introduced in november and already it's become a worldwide phenomenon. given its success, why keep fans waiting? this lucasfilm executive defended the lack of official merchandise last christmas, a move that may have cost disney $3 million in sales. we live in a world where leaks are very difficult to manage so we all agreed we wouldn't release assets on the character until the show had aired and worked out. that secrecy created a similar problem when the first star wars films came out. back in 1977, there was no product development when the film came out. they ended up shipping empty boxes to consumers, what was known as an ear

from wall street, here's michelle fleury. like the rest of the world will try to figure out how far this might spread and what it might mean. you see businesses continue to close, travel being disrupted and people staying at home. all of that not only has a human toll, it has an economic cost and thatis it has an economic cost and that is we are seeing pay—out in financial markets right now with the dowjones industrial average, the s&p 500 and nasdaq falling into correction surgery, falling into correction surgery, that is around io%. there have been lots of comparisons to the sars outbreak. back then, the us economy and china was far less integrated when it comes to supply chains than it is today. you see companies like apple saying there foxconn plant in china has been affected, that will affect the supply of iphones as that factory was closed and workers are now returning. but big consumer brands like starbucks, which operate in china, it is a big market for them. they are seeing community demand dropped off, they have had

for more come i spoke to the bbc's michelle fleury on wall stre. what is driving the meefall in thkets, michelle? michelle: in a word, coronavirus investors, like the rest of the world, are trying to figure out how far this will ipread and whwill mean. if it continues to be as widespread as people might be, you will see businesses continue to close, travel being disrupted, people stayingho at . all of that has not only a human toll it has an economic cost. that i what you are seeing in the financial markets with the dow jones industrial average, s&p 500, the nasdaq a entering into crection territory, which is when the markets fall by more than 10%. laura: is there talk on wall street that this could even potentiay lead to a recession in the u.s.? michelle: i think if you go back to the start of today one of the predictions that came out from a big well-known investment bank, goldman sachs, suggested that corporate profits in america could eentially be flat this year. you could see no growth in those profs from last year to this year as a result of t

michelle fleury, bbc news. — and he likes to do things a bit differently. his owners take him out on walks on a lead, alongside their three pet dogs. so far he's travelled the yorkshire dales and reached the top of scafell pike, the highest mountain in england. they say he gets lots of attention from fellow walkers, and doesn't mind stopping for a photo. now it's time for a look at the weather. good afternoon. this unsettled, blustery and wet spell of weather continues. we have had heavy downpours today. a pipeline of moisture planning and across northern ireland, southern and western scotland, north wales. the heaviest rain on hygge land. across the pennines and parts of southern and western scotland, some spots will see between 60 and 80 millimetres of rain. there are ongoing flooding problem some more rain is not good news. it is windy everywhere but especially east of the pennines, said he scotland. they went in the far north of scotland as well, brighter here as well. brighter in south wales and south engl

michelle fleury has more from new york.s asked that biggest names in technology to hand over information about a decade worth of deals. america's telecoms regulator is trying to understand how giants like amazon and facebook have used acquisitions to become so dominant. if the ftc were to discover anti—competitive merger activity in the past, it could lead to action being taken, with the ftc chairjoseph simons telling reporters it could result in unwinding. the request comes as the size, power and business practices of big tech are under the microscope, including several government investigations into whether their practices harm competition. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining us is writer and journalist, marisa bate. a piece in the guardian about ofcom giving a new role of policing online platforms. the government will announce draft legislation suggesting ofcom could have powers and responsibilities over the behaviour of these tech giants. the likes

michelle fleury, bbc news, new york.s' time. that's pretty you on some other business stories was that microsoft has become the latest company discomforts for because because of the coronavirus outbreak —— let's brief you. the current quarter, disruptions to its supply chain. apple said it may not be able to make it's much quarter sales forecast. a third runway at heathrow airport, judges will decide whether that expansion so into account climate change commitments. walmart says it may sell a majority stake in its uk supermarket as dark, the us retail giants as it is talking toa retail giants as it is talking to a small number of retail parties about a possible investment —— asda. the uk's regulator block plans to merge sainsbury is and asda based on concerns it would raise prices for consumers —— sainsbury‘s. now let's look at what is trending in business news. in limbo, johnson super at uk on collision course with you trade thoughts. the government is to publish its negotiating mandate on thursday, —— trade talks with

michelle fleury has more from new york. was in part on inspiration for the gordon gecko character in the film wall street. in 1990 he was sent to prison for his part in a vast insider trading scheme. donald trump's decision to pardon him came on the same day that seven others received a pardon and four others had their sentences commuted, including former illinois governor. the president would not say if he is considering a potential pardon for his long—time associate of roger stern. as for mr milken, he has sought to rehabilitate his reputation for decades and has established an influential nonprofit think tank, devoted to initiatives that advance prosperity. now, even with a lifetime ban from the securities industry, the formerjunk bond king who was sentenced to ten yea rs bond king who was sentenced to ten years in prison and fined $600 million has a pardon from the president. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining me is lesley batchelor, international

not just for investors — but for all ‘stake holders' — as the firm's co—founder explained to michelle fleuryakeholders. we nominated five who are guests, our hosts and employees, shareholders and the communities in which we operate and to further formalise that we have find specific principles in metrics by which we are going to serve our stakeholders so we can hold ourselves accountable over time. someone listening right now, forgive them for a degree of scepticism, they will just say ok, this is a lot of nice words and a lot of lofty goals. how do they measure that? this is where it is important to be explicit and in numerate exactly what it is and what the impacts that we care about and where we will measure them. one example is with our host community, hosts are making significant income on the platform and we want to make sure that they are succeeding ever more each year. one metric is what percentage of our hosts are earning more on the air b&b platform each year than the year before? the most problematic area just looking for your stakeholders is when it comes to community. the area r

michelle fleury went to find out. an endangered species act, the plastic bag.th the ban starting march the first, all new yorkers will have to bring their own reusable bags to the grocery store oi’ reusable bags to the grocery store or pay 5 cents for a paper one, so what do shoppers think? there is no recycling purpose for them, they just fill landfill, so good. half the staff in the store you buy is made out of plastic that holds the food, so plastic bags... doesn't make sense. you food, so plastic bags... doesn't make sense. you are food, so plastic bags... doesn't make sense. you are ahead of the ban, you have your reusable bag?m is very sturdy and useful for many reasons. to help shoppers prepare, this shop in brooklyn is giving away reusable bags to any customer that spans over $20 and while the owner thinks this is the right thing to do for the environment, he said some will find it inconvenient. change is hard, people use plastic bags for everyday use, they use them to pick up everyday use, they use them to pick up dog poo and in their trash bags and in

the bbc‘s michelle fleury has been following the story in new york.ite—collar criminals, the faces, if you like, for corporate greed and wrongdoing, who are amongst those who have received pardons or computations in their sentences by the president, and that is leading to some raised eyebrows. you mentioned michael milken. he really was very well known as a formerjunk bond really was very well known as a former junk bond king really was very well known as a formerjunk bond king here on wall street —— commutations. he was the face of insider trading scandals backin face of insider trading scandals back in the 1980s. 0riginally he was sentenced to ten years in prison for crimes when he was working for an investment bank and basically banned from the securities industry. since then, he has really sought to try and burnish his reputation, and so you saw donald trump today, when he announced that he was being pardoned, he sort of praised his work for cancer treatment. and again, this will certainly please mr milken, like i say, who has certainly sought to

michelle fleury has more from new york.o's pizza in china has been boosted by a younger generation with a taste for western food, and an appetite for ordering online. and while its presence is nowhere near the scale of, say, mcdonald's, it is a growing market for the fast—food company. dominoes has around 250 stores in china, with plans to open more, and while none of them are located in hubei province, the epicentre of the coronavirus outbreak, wall street will be keen to hear what impact is virus is having on domino's china business. fast—food companies like starbucks, which has had to close stores in china, well, they are ramping up contactless pick up and delivery services, to try and keep their workers and customers safe. just one of the many ways companies are modifying how they operate in china because of the coronavirus. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining me isjenny garrett, who's a career coach and leadership trainer. 0ur story today involving

hello and welcome — i'm michelle fleury in washington, james reynolds in london.stein, once the most powerful man in hollywood, has been convicted of rape and sexual assault against two women. but the jury of seven men and five women acquitted him of two of the most serious charges at his trial in new york. the guilty verdict is a dizzying fall for the hollywood producer whose trial was a landmark moment in the #metoo movement. a lawyerfor mr weinstein says he will appeal. he now faces up to 25 years in prison. this report from our correspondent in new york, nick bryant for years, he was the king of hollywood. a movie mogul who acted like he owned the red carpet. but harvey weinstein cut a feeble figure during his trial in new york, shuffling into court each day to listen to the tearful — and often traumatic — testimony of his female accusers. the one—time aspiring actress jessica mann accused him of raping her in a new york hotel room in 2013, and the production assistant mimi hayeli said he had sexually assaulted her in 2006. today, harvey weinstein was convicte

i'm michelle fleury in washington and christian fraser is in london. government reshuffle was billed as a relatively minor re—organisation of the lower ranks of cabinet. what transpired was something entirely different. the chancellor, sajid javid, the second most senior figure in government, was called into number 10 and told that he would need to sack all his senior political advisors if he wanted to keep his job. he refused and instead resigned. it came as a shock to the parliamentary party, but maybe the prime minister half expected that sajid javid would walk, judging by the speed with which he replaced him. rishi sunak has only been in parliament since 2015, highly thought of, but this is a meteoric rise for a man with comparatively little government experience. our political editor laura kuenssberg reports. how laura kuenssberg reports. tight is number ten‘s gr reshuffle how tight is number ten‘s grip? the reshuffle bill, officials huddling to make sure it's all in order. sajid javid expected to keep his number11, sajid javid expected to keep hi

michelle fleury in new york will talk us through on os business. with their supply chains as a result of the coronavirus outbreak in china. for example, india's pharmaceutical industry, which is experiencing a shortage of supplies, resulting in the price of paracetamol and some antibiotics soaring. the bbc‘s nikhil inamdar sent us this update from mumbai. the extended closure of factories in china due to the coronavirus outbreak has had a significant impact on the prices of active pharmaceutical ingredients, such as erythromycin, which have gone up by as much as 40%—70% here in india. now, these are absolutely critical chemicals in the manufacturing of essential drugs, such as antibiotics and pain killers. now, india relies on china for as much is 80% of its requirement of pharmaceutical raw materials and this price rise is particularly hurting drugmakers who are running low inventories. in the event that the lockdown continues beyond the end of this month, the local trade body is saying that india could begin to see shortages of finished drugs. th

the bbc‘s michelle fleury went to find out. an endangered species, the plastic bag.ted using them in the 1980s but with the band starting on the 1st of march all new yorkers will have to bring their own reusable bags to the grocery store or pay 5 cents for a paper once a work to shocker percent —— so paper once a work to shocker percent —— so what do shoppers think?|j think —— so what do shoppers think?” think it is good. plastic bags, it doesn't make sense. you have your reusable bag. they are useful for many reasons. to help shoppers prepare, this shop is giving away these usable bags to any customers that spans over $25. change is hard. people use those plastic bags for everyday use. people use them to pick up dog to, to put in trash bags. not all plastic bags are banned. for example those used for prescription drugs, for take—out food, are exempt. that will limit the effectiveness of the ban in reducing plastic waste. a new york recycling plant. one of the ends of the law is to reduce greenhouse gas emissions tied to the disposal of plastic bags. the plastics ind

michelle fleury has more from new york.l tell congress the recent emergence of the coronavirus could lead to disruptions in china that spill over to the rest of the global economy. the warning comes amid an otherwise upbeat assessment, actually, of the american economy by the federal reserve chief. in its semiannual report to congress, the central bank says the us economy remained on a solid footing thanks, in part, to improving trade relations as well as a strong usjobs market which continues to provide enough employment to absorb new entrants into the workforce. for wall street, this will likely be interpreted as confirmation of the fed's view that no further changes in interest rates are needed. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining me is natalie sauber, senior strategic researcher at property consultancy, arcadis natalie, thank you forjoining us. where are we starting? the financial times, can britainpos micro—car pla nts stay times, can britainpos mi

businesses not just for investors — but for all stake holders — as the firm's co—founder explained to michelle fleuryolders. we've specifically enumerated five of them — which are our guests, our hosts, employees, shareholders and the communities in which we operate. and to further formalise that, we've actually defined specific principles in metrics by which we are going to serve our stakeholders so we can hold ourselves accountable over time. i mean, someone listening right now, a degree of scepticism. they are just going to say, ok, this is a lot of nice words and lofty goals. but, i mean, how do they measure that? this is where i think it's really important to be explicit to enumerate exactly what it is, what are the impacts that we care about and how are we actually going to measure them. one example, with our host community, our hosts are making significant income on the platform and we want to make sure that they are succeeding ever more each year. so, one of the metrics is what percentage of our hosts are earning more on the airbnb platform each year than a year before. you're planning to go

michelle fleury sent this update from new york. i mean this was not a day for the fainthearted, certainly if you ask any trader. from the city of london to wall street, we've seen yet again sharp drops in the prices of stocks, all of this is being driven by investors who are basically pretty worried about what is happening with the coronavirus. over £150 billion has been wiped off the value of the ftse in the last four days, and here on wall street, you've seen the dowjones industrial basicallyjust suffer its biggest points lost in history. it also joins other markets slumping into a correction, a drop of more than 10% over a period of days, and the price of oil continues to fall sharply. what is happening is that investors are trying to do what everyone else is, and that is to predict what will happen next. how far and how fast with this virus spread? the impact on corporate profits could be severe, if you start to see offices close, people stop travelling and people stop shopping. we've even had a warning from one of the big wall

michelle fleury has more from new york.eakest ones are disappearing fast, and that is hurting department stores. the latest casualty is macy's. the chief executive of the 161—year—old chain said it's closing its cincinnati headquarters. new york will remain the single head office. 125 stores, a fifth of its locations, will go over the next three years and it's cutting 2,000 corporate staff. the move is expected to save it $1.5 billion annually at the end of 2022. the cuts are an admission that it can't succeed so long as shoppers make fewer trips to the mall and spend more time shopping online. macy's isn't giving up yet. the retailer has launched a small store format which will operate under the name by macy's on the day it will try to convince investors of the key to reviving its fortunes. miss flare in new york. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining me is lesley batchelor, international trade expert and chief executive of export boot camps. we mentione

here's michelle fleury., like the rest of the world, are trying to figure out how far this will spread and what that will mean. if it continues to be as widespread as people now suspect it might be, you are going to see businesses continue to close, travel being disrupted and people staying home. all of that not only has a human toll, it has an economic cost, which is what you are seen playing out on the financial markets right now with the dowjones industrial average, the s&p 500, nasdaq, all suffering big falls, all entering into correction territory, which is when the markets fall more than io%. there's been lots of comparisons made with the sars outbreak. back then the us economy and china was far less integrated when it comes to supply chains than it is today, so you see an announcement from companies like apple basically saying their foxconn plant in china has been affected and that will have a knock—on effect on the supply of iphones going forward for a while as that factory was closed and finally ope

michelle fleury has more.—awaited debut in november the 12th. one day after its launch, the mouse house said it had signed up over 10 million users — driving its share price at the time to an all—time high. since then, though, the company has been silent. so its quarterly report will be the first opportunity since then for investors to find out if the platform's momentum lasted beyond that initial rush. some are predicting it has racked up to 25—30 million subscribers. however, as big as the numbers are, wall street will also be focused on other parts of the mouse universe, particularly the impact of the coronavirus on its theme parks and resorts business. remember, disney took the unprecedented move to close both its theme parks in shanghai and hong kong for the health and safety of its customers and staff. and disney makes a big chunk of money from those theme parks, and that could significantly dent profits. we were chatting away there! laughter already reviewing the papers! time now for our daily look at s

michelle fleury is in new york. today has been particularly bad? faint—hearted, certainly if you ask any trader. from the city of london to wall street, we have seen sharp drops in the prices of stocks. all this being driven by investors who are, basically, pretty worried about what is happening with the coronavirus. over £150 billion has been wiped off the value of the ftse 100 in the last few days and on wall street we have seen the dowjones industrials of its biggest point loss in history. it alsojoined other markets dropping more than 10% over a period of days and the price of oil continues to fall sharply. what is happening is investors are trying to do what everyone else is, and that is to try to predict what will happen next. how far and how fast will this virus spread. the impact on corporate profits could be severe if you start to see offices close. people stop travelling and people stop shopping. we have had a warning from one of the big wall street banks, goldman sachs, saying it could tip the us into recession. michelle, in new york, th

michelle fleury has more from new york.th holmes and the former president headed to trial this summer. president headed to trial this summer. they will face fewer charges than the original 11 count indictment after a federaljudge in california ruled that prosecutors cannot pursue charges on the grounds that they defrauded customers or doctors who used their blood test that did not work as advertised. the legal reasoning goes that since insurance companies paid for the test in many cases individuals were not technically defrauded of money 01’ not technically defrauded of money or property, and despite the legal victory for the defendants, they did not succeed in getting all of the charges dropped. the trial is tentatively set to begin in august. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining me is rashmee roshan lall, columnist for the national and the arab weekly. welcome to you. we are talking about electric cars and the bp boss is talking about a zero emissions

michelle fleury has more from new york.nited states jumped higher in december, setting their best pace since early 2018. it makes sense, given low mortgage rates and low unemployment levels, although a lack of inventory has certainly been more helpful to sellers than prospective buyers. but judging by the forecast being put out by wall street, a reversal might be on the cards. we'll get a better sense when the national association of realtors releases its january numbers later this friday. economists are predicting a 2% decline to a seasonally adjusted rate of 5.43 million, a sign that perhaps december‘s boom was unsustainable. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining us is riaz kanani, chief executive and founder, radiate b2b. a marketing advertising firm. we have picked out this one from the new york times, one you are quite interested in. teaching students how to spot fake news. yes, it is an interesting angle. we focus so much on the technology solving t

michelle fleury, bbc news.blisher, pearson, is among the big fallers on the ftse today after it said that sales of college textbooks in the us had dropped by 90% over past eight years, as students look for reading materials online instead. the £ is back above the $1.29 level where it went yesterday. that's all the business news. back to you. thank you. but first the headlines on bbc news... safiyya amira shaikh — a supporter of the islamic state group, has pleaded guilty at the old bailey to plotting to bomb st paul's cathedral and a hotel. the mother of grace millane — the british backpacker strangled in new zealand in 2018 — has spoken powerfully of the family's devastation. a 28—year—old man has been jailed fora minimum of 17 years for murder. a flight to bring more than 70 british people back home from japan — after they were trapped on a cruise ship hit by the new coronavirus — has been delayed. us president donald trump has criticised the academy awards for awarding best picture to a film, because its for

michelle fleury is in new york.at is been taken by the organisers. just to give people some context, this is one of the most attended conferences and it has been cancelled because the coronavirus. the writing was on the wall after some of the biggest names in the industry pull it out. we're talking about names like samsung, nokia, ericsson, cisco systems. the big names were huawei and cte but scaled back. this is an event that typically starts in barcelona and spain. and usually attracts like 109,000 attendees. it is a chance of these companies to lay out their stall for the year, the big announcement, the big projects and set the tone for the year. but now thatis set the tone for the year. but now that is going to have to be delayed because of concerns about the coronavirus. thank you very much indeed. that is not going to happen inafew indeed. that is not going to happen in a few weeks' time. bp says it will use carbon capture technology and tree—pla nting to cut its net carbon emissions to zero by 2050. new boss

michelle fleury is in new york. samira hussain is in new york. help me understand the process.ink you use the exact right phrasing by calling it a bit ofa right phrasing by calling it a bit of a wish list because he has outlined a lot of things that he wa nts to outlined a lot of things that he wants to get done. he wants the increased military spending and he wa nts to increased military spending and he wants to start slashing these a safety net programmes, which is unsurprising. we're talking about cuts to medicaid, cuts to the environmental protection agency, but it's a wish close because the likelihood of this being passed by congress is very unlikely. he needs both houses to be able to get this budget passed but he only controls just one. so in that case, how can he get anything through the house of representatives, given how things are gonna be? two they sit down and negotiate? that'sjust are gonna be? two they sit down and negotiate? that's just the are gonna be? two they sit down and negotiate? that'sjust the probably run up the gates some pretty healthy —— guidelines.

michelle fleury is in new york. imight i might have expected the markets to be down on this.nvestors are taking a longer term view. they think that the coronavirus won't put a huge dent, at least not in america on economic growth, but there are still concerns. it has the ability to rattle wall street. look at the oil price. it dropped sharply on fears that it will continue to disrupt the world's second largest economy, china, which is a major consumer of energy. there are fears about the knock—on effect on growth. and your understanding why. if you look at the announcements we've heard from companies over the last week or so, global businesses basically saying they are temporarily halting operations so that customers and workers aren't exposed. talking to economists, you see them putting it into two different things. you talk about goods and services which can be recovered further down the line. you might put off buying a washing machine but you will resume that purchase presumably later. then there are things like airlines, flights, trip to casinos and disneyland. they are t

michelle fleury is in new york.asn't particularly surprised when i heard, is it an inevitability when you have an outbreak like this? we've been talking about this pretty much daily ever since the outbreak of the coronavirus. the impact on industries and tourism. what you haveis industries and tourism. what you have is an industry body flushing things out so we were talking about apple and their revenue warning now you got this international trade body saying asia— pacific you got this international trade body saying asia—pacific carries in particular will bear the brunt of the impact of the coronavirus, saying they will see 13% falls into man. they're talking about something close to a $30 billion revenue loss for 2020. it's not surprising. look at the announcement in pacific saying how much they reduce capacity. that will mean loss of revenue. if this is inevitable, i suppose my next question will be is there anything iata can do about this? it was interesting, someone sent an e—mail listing what they we re sent a

michelle fleury has been monitoring a rollercoaster week for the markets. and it gave up the roller coaster ride, and it gave up some of its advantages this basically suggests that there still trying to assess the effect of the coronavirus. if you look at what happened at the s&p 500, it ended the session while the nasdaq down to tiny gain. if investors are hoping for the market to recover in the old adage which is, that has not materialised in the comes of after the dow fell. are they trying to do anything to rid the market uncertainty? i know it is a difficult thing to do something a virus. jeff donald trump who is facing reelection later this year and one of the key strong parts of his record has been economy and this could be the black swan of an unpredictable event that changes that. it could have an impact on the economy here we are waiting to hear from the white house in about two hours now, they‘re expected to hold a press co nfe re nce hours now, they‘re expected to hold a press conference to talk about preparations they are making to address and d

we sent michelle fleury to the new york toy fair to see baby yoda in the fluff.ocial media. the character was introduced in november and already it's become a worldwide phenomenon. given its success, why keep fans waiting? this lucasfilm executive defended the lack of official merchandise last christmas, a move that may have cost disney $3 million in sales. we live in a world where leaks are very difficult to manage so we all agreed we wouldn't release assets on the character until the show had aired and worked out. that desire for secrecy created a similar problem when the first star wars films came out. back in 1977, there was no product development when the film came out. they ended up shipping empty boxes to consumers, what was known as an early bird special so there is definitely a precedent. brands havejumped on board, and forget getting you hands on this baby yoda, it is already the biggest pre—selling funko pop figure of all time. disney and its partners like hasbro these companies are hoping the popularity of the mandalorian and the child, known by many

michelle fleury is in new york for us. michelle, what else is goldman sachs saying? year of 2020. —— essentially wiped out. worst case scenario, you could see a recession. that is a pretty bleak picture from of the big names of wall street. there was also a report from the bank of america saying that the global economy was going to slow down more than previously suggested— all of that weighing on the markets this morning. with a dull, the nasdaq, all down, it is a decline of more than 10%. if things carry on they are at the moment, you could see the sm 500 basically having its worst week since the financial crisis in 2008. anna president trump has been speaking, trying to calm nerves, do you think that is going to work? he gave a press conference yesterday evening, i have to say, it got investors more concern. it was the news that there was another case, in california, where an individual had contracted coronavirus without having to travel to china or being in contact with someone with coronavirus. the origin of how this person caught the virus is not knowing, that s

michelle fleury is at the new york stock exchange.ike a mixed bag, you know, maybe some dance music as well. just to get you going in the morning. this is the biggest music streaming service, so, in some insta nces, streaming service, so, in some instances, you could argue it's got first mover advantage, it's bigger than apple and amazon, and you see that reflected in the progress it is making in terms of attracting people to its platform. it added 11 million new subscribers to its service in the final three months of last year, bringing the totalfor the final three months of last year, bringing the total for the year to 124 million, and that is paying school subscribers. when you are talking about the number of people who use the paid and free services, that figure was 271 million, so it's very impressive, but here is the thing, it still made an operating loss, and that really has got investors slightly anxious after it made a profit previous year. questions about how much it is spending. it had to give a lot of free trials and promo

michelle fleury is in new york. on car companies, and tech companies, and pharmaceutical companies... i think what apple did overnight by giving these figures was essentially put some reality into a conversation that economists have been having for a while, which is that we knew the coronavirus would disrupt the supply chain, but we just didn't know how badly. and here you have a huge well— known technological company coming out and saying, this is what it means to us. they have a factory that makes parts for the iphone and they are saying that as a result of they are saying that as a result of the fact that the factory was shut down, it is now open but it is taking longer than expected to ramp up taking longer than expected to ramp up production... that is having a knock—on effect on its ability to make iphones, so it thinks that the supply of those around the world will be constrained for the rest of this quarter and it also is going to ta ke this quarter and it also is going to take a hit from the fact that deman

michelle fleury joins us now from new york. the rout continuing?its worst points drop in history, it is biggest point drop in history yesterday, now i'm looking at the data and it is down 650 points already and the market's only been open 15 minutes. so this terrible week looks like it is going to end ona week looks like it is going to end on a terrible note and as you said, the worst week for these major indexes in america most likely since the financial crisis. what you're seeing is investors asking the question which everyone else is, how farand question which everyone else is, how far and fast is this going to spread and what does it mean for the economy? if people are forced to shut offices, stay at home, not go shopping, not travel, that disruption can have a major impact on corporate profits and that is why you're seeing banks putting out negative warnings on corporate profits and the price of oil falling, because if things move to a stand—still, we won't need as much oil to make goods or to move about and investors don't seem yet to have re

michelle fleury, our business correspondentjoins us from the new york stock exchange.ts, and it was contained in part of the phase one trade deal that donald trump signed with china's top trade representative a couple of weeks ago in washington. where they have gone a step further is making this rollback on some of the tariffs more permanent and i think in part it is to allay concerns as a result of the coronavirus that china might not have been able to live up to some parts of the trade agreement. you may recall that as part of it it had committed to buying a huge chunk of american goods and we heard last week from larry kudlow of the economic adviser to the white house, basically saying that might be delayed as a result of the coronavirus and the impact it is having on the chinese economy. this is an attempt now to say that may be the case but we are still acting in good faith and we want to proceed with this. it is a recognition of the importance of the us economy and the importance of the us economy and the chinese economy in the trade that goes on between these gi

our north american business correspondent michelle fleury is in new york for us.the sort of top line figure they are focused on. a lot of this has to do with what's going on in its theme parks and resorts. there's been a lot of interest as to what the company might say given the recent closings of its shanghai and hong kong facilities for health and safety reasons as the coronavirus sweeps through the region. the company did recognise that there was a drop in revenue, but said that more broadly speaking, the strength in that segment of its business name domestically here in the united states. it was sort of —— it continues to be a big drive of results. however the other area that has caught many people's attention is the launch in the last three months of its new streaming service. it did very well and for the first time it broke out, those subscriber numbers in the last quarter, so for the period of three months, it's already signed up 26 and a half million users. largely in the united states. it's not even online yet in the uk. i think it launch as in march. it'

michelle fleury is in new york for us. the case of rags, there are concerns it could block a fuel line, get stuck in that. this is yet another black eye for boeing. as you pointed out on the separate to the engineering problem which led the 737 max planes. —— which led to the 737 max planes. —— which led to the grounding of the 737 max. in other hit when it comes to the engineering track record and in this case the question of safety and quality control. it does nothing to boost confidence in this aircraft whenever it takes to the skies again. boeing saying it doesn't think this latest issue will delay that return to the skies. it is still a guessing game as to when that might actually happen. yeah. look, they've now said that as a result of this "foreign object debris", fod, as aviation experts like to call it, to inspect all of their planes, which is what boeing have now said they will do. 400 plus 737 max planes that have been built and waiting to be delivered. that will take quite an amount of time. it is three days to