live from new york, i'm ritika gupta. wall street has opened slightly lower following president donald trump's latest comments on tariffs which were seen as taking a softer stance on levies against china and raised the prospect of lower in the rear view mirror. and we'll be live in davos with the managing director of the world economic forum, looking back on a big week for global leaders. welcome to business today. live from new york, i'm ritika gupta. wall street has opened slightly lower following president donald trump's latest comments on tariffs which were seen as taking a softer stance on levies against china and raised the prospect of lower us interest rates. the dollar fell to a one—month low against a basket of currencies. this follows record high closes in europe and the us�*s s&p 500 on thursday. for more on all of this for more on all i'm joined now by dan airin�*s managing director and portfolio manager at adviser shares. donald trump's comments seem to have caused quite a stir. the latest being a softening s

the bbc�*s ritika gupta reports. huge unmanned cranes loom over peru's chinese—funded port.rowing influence in south america. situated on the edge of peru's coastal desert some 50 miles north of the capital, a small fishing town looks set to become a major hub for trade in a region the us has long considered its own backyard. this giant new port is a game changer, notjust for peru, but the wider latin american region, and at a time when the newly elected president donald trump is looking to clamp down on trade with china, china has set its eyes on peru, making peru a strategic piece on the global geopolitical chessboard. the man overseeing the port's operations, mario, says the port will dramatically speed up trade that will bypass america entirely. that will bypass north america entirely. you are going to have express directly to shanghai. it is a huge opportunity for south america because right now all the materials that you export to asia, you have to go to mexico and then you cross the pacific ocean. but despite the promises of growth, some in the local community feel le

ritika gupta has more from new york. his warning made in a social media post call by name.deal soon or else he tariffs and sanctions on russian imports to participating countries. it is not clear what goods would trump threatened or. the trump administration could potentially target russiaa move. the us to dissuade some key trading partners such as india to scale back its purchases. if you look at how much russia sell to the us, it is very little. in the first 11 months of last year the us imported a little less than one tenth of 1%, and a reduction of about 90% from, the year before the trump campaigned on promises to end the conflict that invasion of ukraine which has killed time is one of the first things donald trump did as president was to extend a deadline for tiktok to find a buyer or be banned in the us over national security concerns. trump has said he is open to the idea of x owner elon musk buying it, while other billionaires and big firms are circling the wildly popular app. but tiktok�*s owner has repeatedly said it has no plans to sell it. let's get more from

the bbc�*s north ameria business correpondent ritika gupta has more on the economic cost from this disasters engulfing swathes of los angeles are expected to be one of the nation's costliest natural disasters. it will likely cause tens of billions of dollars in damage and economic loss, according to accuweather. the blazes burning in santa monica and malibu are consuming some of the most pricey real estate in the us, affecting areas where the median home value is more than $2 million. and in addition to the human costs and property damage in la, there's likely to be longer lasting health impacts and medical costs due to acrid smoke, as well as a dent in the region's lucrative tourism business. jp morgan warned insurers that the cost is expected to pass $20 billion. the figure could rise further as the fires are not controlled and continue to spread. many affected homes were not insured. some of the biggest insurers hit by hurricanes and other natural disasters over the years have seized writing or stopped renewing policies in high—risk coastal and wildfire areas like pacific palisades. hurr

our north america business correspondent ritika gupta has all 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. 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 released after the december meeting showed a median estimate of two rate cuts in 2025 down from the four policymakers projected in september. asia is bracing for the significant impact of incoming us president donald trump's tariff policies. in his previous term, the pict

push for interest—rate cuts let's get to new york and our north american business correspondent, ritika guptap 500 closed at a record high on thursday, topping the 6100 milestone, this as investors digested comments from president donald trump including a call for cuts in interest rates and oil prices and assessed a mixed bag of corporate earnings. at the world economic forum in davos, switzerland, trump demanded opec lower and increase interest rates. crude oilfell. trump warned business leaders they will face tariffs for products made outside of the us. while investors have been cautiously monitoring the new president's comments about tariffs, stocks may have got a boost from the idea of interest rates and oil prices coming down. tech stocks, which weighed heavily on the market throughout most of the session, rebounded in the final stretch of wall street trading. this as trump said he signed executive actions related to ai and cryptocurrencies. staying in the us, and donald trump says he would rather not use tariffs against china, but has described them as a "tremendous power" over the coun

ritika gupta has more from new york.a social media post call by name. he said he should make a deal soon or else he would have to put tariffs and sanctions on russian imports to participating countries. it is not clear what good the penalties or what nations would be included. the trump administration could potentially target russia's oil producers, scott bessant producers, scott bessa nt endorsed producers, scott bessant endorsed that last week. the us has a ready imposed extensive sanctions on russia struggled to persuade some of the key trading partners such as india to scale back its purchases. if you look at how much russia actually sells to the us, it is very little. in the first 11 months of last year, us little less than $3 billion of russian goods, about one tenth of i% of total us imports, and it is a reduction of about 90% from what the us imported from russia in 2021. the year before the invasion of ukraine. trump campaign promises to end the conflict that began with russia's invasion on ukraine, which has ki

my colleague ritika gupta went to the megaport in peru to find out more.ded chancay port, a symbol of beijing's growing influence in south america. situated on the edge of peru's coastal desert, some 50 miles north of the capital, chancay, a small fishing town, looks set to become a major hub for trade in a region the us has long considered its own back yard. this giant new port is a game changer, notjust for peru but for the wider latin american region. and at a time when the newly elected president donald trump is looking to clamp down on trade with china, china has set its eyes on peru, making peru a strategic piece on the global geopolitical chess board. the man overseeing the port's operations says the port will dramatically speed up trade that will bypass north america entirely. you are going to have express from chancay directly to shanghai. it's a huge opportunity for south america. but despite the promises of growth, some in the local community feel left behind. the fully automated port has so far offered fewjobs. china has overtaken the us has pe

from new york, here's our business correspondent ritika gupta.ai feature that is generated inaccurate news alert on his latest iphones. the tech giant says it was working on a software change to further clarify whether the notifications are summaries generated by the apple intelligence system. it comes as a company faces calls to pull the technology after its poor performance. the bbc complained last month after a summary of its headline falsely told leaders that the man accused of killing the united care ceo had shot himself. on friday, apple inaccurate summarised that luke littler had won the darts championship hours before the match began and that the tennyson star river nadal had come out as 93v- river nadal had come out as gay. apple has formally responded. —— tennis star, rafael nadal. shares in chinese tech giants — including the gaming and social media leader tencent — have been hit today on the news the us defense department has added them to a list of firms it says work with china's military. the battery maker catl has also been added.

here's our north america business correspondent, ritika gupta.wathes of los angeles are expected to be one of the nations�* costliest natural disasters. the blazes burning around some to monaco and malibu are consuming some of the most pricey real estate in the us, affecting areas where the median home value is more than $2 million. in addition to the human cost and property damage in la, there is likely to be lasting health impacts and medical costs due to acrid smoke, as well as a dent in the lucrative tourism business. 0n thursdayjp morgan warned the potential cost to insurers is expected to surpass $20 billion. these figures could rise further, as the fires are not controlled and continue to spread. many affected homes were not insured. some of the biggest insurers, hit by hurricanes and other natural disasters over the years, have ceased writing or stopped renewing policies in high—risk coastal and wildfire areas like pacific palisades. hurricane katrina in 2005 is the most expensive us natural disaster, with an estimated cost of $200 billio

welcome to business today, live from new york, i'm ritika gupta.art 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. joining me now is carol schleif — chief market strategist at bmo private wealth. so good news for the economy, it is bad news for the market for today. we are seeing stocks and bonds falling. what is your take on the numbers and the rap track market reaction to it? i think the market reaction is a little overdone as the open and hopefully, we will get some rethinking of this reaction as we go through the day because overall, it is a solid job report and it is indicative of a very nicely functioning economy. in one of the numbers, the

let's get more from new york and north america business correspondent, ritika gupta.its third—party fact checking programme, and moved to a community note system similar to one that elon musk�*s platform exit uses. restrictions on contentious topics such as immigration and gender identity will also end. mark zuckerberg said this will promote freedom of speech which he hopes to prioritise, overtaking misinformation. irate overtaking misinformation. we built a lot of complex systems to moderate content that the problem _ to moderate content that the problem with complex systems as they make mistakes. even if they— they make mistakes. even if they accidentally sent to just 1% they accidentally sent to just i% of— they accidentally sent to just 1% of posts that is millions of mole — 1% of posts that is millions of people. and we have reached a point _ people. and we have reached a point where there are just too many— point where there are just too many mistakes and too much censorship. many mistakes and too much censorship-— many mistakes and too much censorship. many mis

here's our north america business correspondent, ritika gupta.dfires engulfing swathes of los angeles are expected to be one of the nations�* costliest natural disasters. blazes around some to monaco and malibu are consuming some of the most pricey real estate in the most pricey real estate in the us, affecting areas where the us, affecting areas where the median home value is $2 million. in addition to the property costs, there is likely to be lasting health impacts on medical costs due to acrid smoke, as well as a dent in the lucrative tourism business. jpmorgan worn the potential cost to insurers is expected to surpass $20 billion. these figures could rise further, as the fires are not controlled and continue to spread. many affected homes were not insured. some of the biggest insurers, hit by hurricanes and other natural disasters over the years, have seized writing or stopped renewing policies in high—risk coastal and wildfire areas like pacific palisades. hurricane katrina in 2005 is the most expensive us natural disaster, with an estimated

ritika gupta went to the megaport in peru to find out more.s chinese—funded chancay port, a symbol of beijing's growing influence in south america. situated on the edge of peru's coastal desert some 50 miles north of the capital, chancay, a small fishing town, looks set to become a major hub for trade in a region the us has long considered its own back yard. this giant new port is a game—changer notjust for peru, but for the wider latin american region and, at a time when the newly—elected president donald trump is looking to clamp down on trade with china, china has set its eyes on peru, making peru a strategic piece on the global geopolitical chessboard. the man overseeing the port's operations, mario de las casas, says the port will dramatically speed up trade that will bypass north america entirely. you're going to have express chanchai directly to shanghai. it's a huge opportunity for south america because right now all the materials that you export to asia, you have to go to mexico or long beach and then you cross the pacific ocean. but

welcome to business today, live from new york, i'm ritika gupta.ecember which have come in much higher than many anticipated.

let's get to new york and north america business correspondent, ritika gupta, who has more.social media post on his third day as president called out russian president vladimir putin by name. he said putin should make a deal soon, or else he would, quote, have no other choice but to impose additional taxes, tariffs, and sanctions on russian imports to the us, along with other participating countries. now, it is not clear what goods would be subject to the penalties that trump threatened, or which other nations might be included. the trump administration could potentially target russia's major oil producers, a move that incoming treasury secretary scott bessent endorsed last week. the us has already imposed extensive sanctions on russia, though it has struggled to persuade some of russia's key trading partners such as india to scale back its purchases. if you look at how much russia actually sells to the us, it's very little. in the first 11 months of last year, the us imported a little less than $3 billion worth of russian goods. that's about one tenth of i% of total us impo

here's our north america business correspondent ritika gupta.ng in december show officials have adopt today new stance when it comes to interest rate cuts amid upside risks to inflation. illicit makers are in no hurry to cut rates and would like to see more evidence that price increases are settling down. inflation readings continue to strengthen spending along with reduced downside risk to the labour market outlook and activity. officials also expressed concern about the impact the president—elect tom'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 united states economy. in december, us central bankers cut the benchmark lending rate by a quarter point to a range of 4.2 5- 4.5% quarter point to a range of 4.2 5— 4.5% for the third time in a row. new forecasts released after the december meeting showed a medium —— median estimate of two cut in 2025. joining me now is dr sean sn

we can speak to our north america business correspondent ritika gupta. good to have you with us. that system works? , , ., , ., . works? it depends who you mean, kee-ain works? it depends who you mean, keeping an — works? it depends who you mean, keeping an eye — works? it depends who you mean, keeping an eye on _ works? it depends who you mean, keeping an eye on those _ works? it depends who you mean, keeping an eye on those social- keeping an eye on those social media sites. you have the conservatives handling this. they wanted to have unfettered free speech, they feel that is how they get their message across, but you have those misinformation experts, even the likes of outgoing fdc chair lena con, very much criticising this, saying this is going to add to the cesspool of misinformation that facebook has, but clearly this is a move that you see with facebook trying to get a bit on the good side of the incoming administration —— lina kahn. which is normal. a new administration, all the regulars naturally try and react or lobby hard a new administration. the difference in this c

from new york, ritika gupta reports. the benchmark s&p 500 closed at a record high on thursday.s investors digested comments from president donald trump, including a call for cuts in interest rates and oil prices, and assessed a mixed bag of corporate earnings. at the world economic forum in davos, switzerland, trump demanded opec lower oil prices and central banks reduce interest rates. crude prices fell following his remarks. meanwhile, trump won the global business leaders they will face tariffs for products made outside of the us, while investors have been cautiously monitoring the new president has my comments about tariffs, stocks may have got a boost from the idea of interest rates and oil prices coming down. tech shares, which weighed heavily on the market throughout most of the session, rebranded in the final stretch of wall street trading, best as trump said he signed executive actions relating to ai and crypto currencies. monitoring the new president has my comments about tariffs, stocks may have got a boost from the idea of interest rates and oil prices coming down.