samira hussain, bbc news, new york. business briefing this hour but before we go, here are the markets. at the price of the price of oil edging higher again today. this on the expectation. it will extend production cuts beyond june. that is your business briefing. research on attitudes towards electric cars suggests that the majority of motorists in britain are not ready to buy one. more than half of those taking part in a trial by the not—for—profit transport research laboratory said they wouldn't invest in on as their main vehicle within the next five years. 0ur transport correspondent tom burridge reports. dad of two john dad of twojohn cook with his relatively new petrol suv. for now at least, he decided an electric car was not rightful family trips to cornwall and they have no offstreet parking. there is definitely an increased cost in buying electric and alsojust increased cost in buying electric and also just where you go to charge the cars, you know, we live on a street so it would be quite difficult to have a c

samira hussain, bbc news, new york.headlines, us carmaker ford is slashing io% headlines, us carmaker ford is slashing 10% of its global workforce as it tries to save money. that means 7000 jobs will be gone by the end of august stop it is unclear what impact there will be. it is pa rt what impact there will be. it is part of a much broader restructuring plan is the company tries to move its focus to its electric and autonomous vehicles. the photo and video sharing site instagram says it is investigating reports that a huge database of is investigating reports that a huge data base of its is investigating reports that a huge database of its contacts has been shed online by an indian firm. according to a marketing company, they compiled information about 49 million accounts which were stored online in an unprotected location. the data includes e—mail and phone numbers. t—mobile's purchase of mobile phone network sprint has received the backing of the majority of the us federal communications commission. the regulators ha

samira hussain in new york.battles the united states over trade, it is also continuing with its so—called belt and road initiative. the ambitious infrastructure project aims to boost economic integration across asia, the middle east, africa, and europe, via a massive transport network, more than 130 inch countries have signed up so far, including the likes of italy. some commentators have raised concerns that it could be away for the well‘s they economy to expand the reach of its military power. i asked jerry madero from a financial data company whether those fears are well—founded. financial data company whether those fears are well-founded. think its primary core it is a business for prosperity, for building trade and infrastructure. the asia development bank is already quoted at $1.5 trillion worth of infrastructure funding, it is a gapjust in asia. this is a real demand to build prosperity across the region. there is already an incredible amount of international interest in putting real money to work. let us

and samira hussain has the details of what's ahead on wall street today.fferent factors affecting how european investors see the world. they are worried about the implications for global growth that the us — china trade spat has and lots of company news out of europe. and samira hussain has the details of what's ahead on wall street today. the house of mickey mouse will be reporting earnings on wednesday. now, walt disney is expected to report a different profit for the last three months, because of the money it's spent to build up its streaming service, disney+. investors will be looking to hear from the company about its plans to divest 21 regional sports networks. these came to disney as part of its acquisition of 21st century fox's film and television assets. now, the us—china trade war will be a feature of the earnings report of bunge, a global grain trader. it's had a string of bad results, given the low grain prices, because of a glut of crops and, of course, the disruptions because of the us trade dispute with china. plenty of other news around rig

samira hussain got an inside look at how it works.r obsession with single—use plastic has created a mountain of a problem that is destroying the climate. but a trial programme called loop wants to be the solution. melissa spurr can get everything from her kitchen cleaner to ice—cream in reusable containers. it changes the way you think about the waste you are creating and the stuff you are putting in your trash. now you are saving all these bulky packages, things that are not recyclable, even. once melissa is done with her products, she sends the containers back. the are then washed and refilled for someone else to use. if every individual made a small change like melissa, just imagine how much less plastic we would use. now, this plant processes the recycled plastics for the city of new york and just look at the sheer amount of waste. loop has the backing of big companies like nestle and unilever. for them, making more expensive reusable packing makes business sense. from a purely financial point of view, you have to future—proof you

chinese. 0k, samira hussain, thanks forjoining us. economy growing. the president thinking, ican the economy growing. the president thinking, i can take a gamble on these trade tariffs. i'm joined now by zhaoyin feng from bbc chinese. thanks for coming to join us. thanks for coming tojoin us. to thanks for coming to join us. to the chinese think the president is bluffing or he is serious, that he might raise these tariffs? at first committee may think he is bluffing but yesterday, we saw light heiser and lucian echoing what he said. does that mean the chinese... what are they going to do in response to this threat? are they going to come to the negotiation? are the talks going to continue? are they going to stop backsliding on their commitments? the chinese have appetites. the delegate is arriving. he is arriving slightly later than planned. he shorten his visit slightly but the chinese are still willing to talk. also according to state media, people's daily, he described china as the more rational and consistent party on the negotiat

from new york, samira hussain explains.ths ago, apple shocked investors by issuing a profit warning. smartphones have always been a big moneymaker for the tech giant, but sales of iphones have been slowing, that was certainly made clear with this latest earnings report. profit and revenue were both down. so why are investors feeling so upbeat? well, it has to do with the company's forward guidance, what it expects to see in the next three months. apple is indicating that its revenue will be higher than what was initially expected. investors are taking that as a sign that it believes sales of iphones will again pick up. apple also expects that demand for its services will also speed up, and contribute to revenue in the next quarter. much of this year, at a splashy event in california loaded with celebrities, apple unveiled several new services. apple tv, apple news+, and apple credit card. and this is where the company believes the future is, that as sales of iphones and ipads may ebb and flow, the services will continue to

the head of the faa spoke to samira hussain. that when the 737 max flies again that the mcas the 737 max flies again that the m cas syste m the 737 max flies again that the mcas system and the inputs that make the mcas system activate are refined ina way the mcas system activate are refined in a way that makes the aircraft as safe as possible. so, what went wrong? there were planes that crashed that were authorised to fly. something went wrong. where did it go wrong? these are active investigations. it would be inappropriate for me because the question of what went wrong is in effect the culmination of a lot of work and a lot of work that still needs to be done. all we can do is look at the interim reports which we have with great detail and those interim reports have established to us interim reports have established to us the link that between the ethiopian and lion air accidents and the faa with boeing and with operators and with the international community, it is why here today, are examining the link, we will mitigate that

samira hussain. oil has been plunging today.t crude, it's one of the global benchmarks for the oil. you can see prices have dropped more than $3.50, that's about 5%, and that's just today! it's on track to be the biggest daily drop in six months. so, why? abhishek deshpande is the head of oil market research and strategy atjp morgan in new york. we have had this huge drop. there could be many factors potentially. what are you pointing this to? commodities are clearly caught in the crossfire between the global macro uncertainties and risks that are on it at play against the core fundamentals that really drive commodities, especially oil if you look at it, a great example and what you were seeing today is an example where the global macro uncertainty and geopolitical risks more related to global economy led by us— china relations deteriorating is having far bigger impact on oil despite fundamentals remaining pretty strong given the supply—side issues that we have had in the market from two oil—based sanctions to even oil supply be

and samira hussain has the details of what's ahead on wall street today. will be reporting earnings on thursday. this will be their first quarterly report since becoming a publicly traded company. unsurprisingly, investors will be looking out for more details on the company's numbers and of course there aren't any indications on future profitability. given uber‘s competitor lyft has forecast that its losses would peak this year, uber investors will be keen to hear if uber has any strategies up its sleeve. also happening on thursday, us vice president mike pence will travel to ottawa, canada, to meet with prime ministerjustin trudeau about accelerating the ratification of the new trade agreement between the united states, canada and mexico, known as us mca. joining us is emma—lou montgomery, associate director for personal investing at fidelity international. good to see you. let's look at currencies, the pound where it stands against the euro. it has been a terrible month for the pound and it does not look like it will get better soon. the threat of no dea

and samira hussain has the details of what‘s ahead on wall street today. hotel in dallas when exxon mobil will hold its annual shareholders meeting. exxonmobil is one of the largest oil and gas companies but it faces criticism for not doing enough on climate change. some shareholders say they will not support the re—election of all board members because of the oil giant‘s inadequate response to the global environmental crisis. also on wednesday, abercrombie and fitch will report earnings. its surfwear brand hollister has done better with consumers than its namesake line. but investors will be paying close attention to any comments the company makes on supplies or pricing if washington‘s new proposed tariffs on chinese imports is implemented. joining us is laura foll, fund manager, global equity income at janus henderson investors. the ongoing trade war with indices across the world falling over the past 12 hours or so. interesting we have bright spots. china‘s rare earth producers have jumped. have bright spots. china‘s rare earth producers havejumped. and

the head of the faa spoke to samira hussain.mcas the 737 max flies again, that the m cas syste m the 737 max flies again, that the mcas system and the inputs that make it activate are refined in a way that makes the aircraft as safe as possible. all we can do is look at the reports we have with great detail, and those in term reports have established to us the link between the ethiopian and lion air accidents and the faa, with boeing and operators and the international community, that is why we are here today, we are examining that link, we will mitigate that link and then doa we will mitigate that link and then do a safety analysis to allow the 737 max would be fly again. the investigation will determine whether or not it was sufficient. we will find out the reasons for these terrible, horrific accidents, and i'm confident that, working together, we are going to fix it and the 737 max that will go on to be as the 737 max that will go on to be as the 737 max that will go on to be as the 737 varieties were before it, the 737 vari

samira hussain is our business reporter in new york. ntinuing to have my questions in terms of what the company e—mail, how early it knew it, and how much concerned was being leveled at the company by people that are actually flying the planes and in this case, the pilots themselves. belling did respond to this by saying luck, it did not, specifically to this recording, but it didn't reiterate that they are committed to finding a solution or fixed rather to the max at 737 and getting the planes rack —— back up in the air to make sure going to say. how has that hearing with the faa gone? remember that a lot of us regulators are under pressure after the bellowing max jets were granted, —— bowling, they we re jets were granted, —— bowling, they were the last regulator in the welds to ground the planes and there is also lots of concern and how they we re eve h also lots of concern and how they were even able to fly above the approval process for these planes and whether they were rushed and said there's lots of questions from lawmakers to th

let's speak to samira hussain who is in new york. do we know who might have been behind the drones? two days after another kind of attack and so, if you look at where these attacks came, they are pretty strategic in terms of how oil is taken out of the country and distributed. what has the stunt to the oil price? we have seen that the price of oil has gone up and although we are hearing from officials that really no damage has been done to the ability to output oil, it is still signalling a lot more concern and a lot more instability in the region when it comes to oil especially. a big week last week, further tensions on monday, it seems like china and the us may be cooling things down. what we hearing today? the president took to his favourite social media site, twitter, and said that when the time is right we will make a deal with china. he is expected to meet with him injune injapan, but who really has the upper hand and who is going to blink first? if you look, both sites think they have all the strength, if you listen to the donald trump administration, china is on the reps it

samira hussain from our business unit in new york., but let's talk about where we've gone too, for people who have not been following this, what's at stake this week? this is a big deal when it comes to nailing down an agreement between the united states and china, i rememberjust the united states and china, i remember just up until last the united states and china, i rememberjust up until last week, we thought we are at the end stages of this and there was talk at the signing ceremony between trump and the chinese president, but now we are hearing at increased tariffs and anger on the posturing of both sides, and what has happened is according to the white house, it seems that the chinese delegation has been walking back from some of the agreements they already made and changing the language on the plane said it's agreed on and that's really riled the president, hence his tweet earlier saying he wants to ratchet up the carrots —— terrace today 5%. stay with us, i want to highlight an editorial. want to highlight this editorial in the

our correspondent samira hussain is in new york. what did the airline body iata have to say today?ng to try and get out and start talking to as many people as possible, because they are trying to get a softwa re because they are trying to get a software fix. you saw something similar being played out with airline regulators, they had been talking to global counterparts to give them updates in terms of where they are in getting the safety softwa re they are in getting the safety software fixed in the boeing planes. what did the airline body iata have to say? iata signalled it isn't going to see these planes going up in the airanytime going to see these planes going up in the air anytime soon and it could be further delayed. there was some indication we could see the maxjets return sometime in june indication we could see the maxjets return sometime injune but iata, the big airline governing body, has said that they don't expect that to happen until the end of the summer. given there were so many of the 737 max aircraft service, how are airlines coping with the fact they are all grou

samira hussain is in new york. what is the root of why way past confidence here?ow much potential they have. —— huawei plasma confidence. in some ways, we re plasma confidence. in some ways, were talking about the five d technology, he is not exactly wrong, there are no real solid american competitors that can catch up to where huawei is. —— five g technology. but if you take a step back and look at this within the context of this growing dispute between china and the united states, there is a lot a posturing that is happening from both sides. both the united states and china whether we talk about specifically in the insta nce talk about specifically in the instance of telecoms or talking within the wider space of the trade dispute, both sides are really making noises to make it seem as if they have the upper hand and ultimately, it is really up to individuals to decide who indeed does have that bigger hand. thank you very much for the update. she is in new york, i'm in berlin. germany's second house of problem at just behind me. we are focused on the european ele

our correspondent samira hussain is following the case from new york. a single manufacturer to make it to this court proceeding and it really, the outcome of this trial could really show what can be capable in terms of these kind of lawsuits against individual companies. specifically with regards to this case, the state of oklahoma saying that look, johnson & johnson absolutely flooded the state with these drugs and created a very ruinous situation for the state. whatjohnson & johnson is ruinous situation for the state. whatjohnson &johnson is saying in the defence is look, you cannot associate all of that blame to us specifically and in fact, has made the argument, look at what we do in terms of educating kids for example see you cannot make the claim that we are responsible for such a desk to make tetra about the companies involved in this case—are we likely to see more of these cases? 40,000 people so far have died, it is an epidemic of immense proportions in the united states and it is clear that there are lots of state—level, communities, federal g

well, samira hussain joins us from new york. is it simple to give away money at that level? is no kind of accountability but remember that this was started about nine years ago with these somewhat famous billionaires bill gates the founder of microsoft and warren buffets the head of berkshire hathaway are very impressive investor and really it was to try to get billionaires to donate a lot of their funds. but there has been some criticism of that. that said i would just add that. that said i would just add that famously her husband of former husband tim never signed onto the project but less than two months after the divorce was finalised she signed up right away. do we know what her interests are, where she wa nts to what her interests are, where she wants to give the money? she has not made that clear yet, we heard about some projects that they were interested in, combating homelessness is one and another project she has been vocal on has been anti—bullying so there is some suggestion that you may see her put some of the money in that direction as well. a very generous twe

our business correspondent samira hussain asked the acting head of the faa about action taken followingd an aircraft. the action we took after the accident was sufficient to make sure that the world, we put out an international notice, if that happened again, could handle it, that the crews and operators could handle it. but it wasn't sufficient, there was another crash, and now there are 354 people dead. the investigation will determine whether or not it was sufficient. lets speak to her in fort worth, who has been watching events today. boeing has not submitted its softwa re boeing has not submitted its software programme to the faa, do we have an idea at all from the meeting when it might return to service? the faa has been very clear in terms of when we will see the 737 max feet up in the airagain, when we will see the 737 max feet up in the air again, they are giving no timeline. they are really saying that they will wait until they see the software fixes to make sure that they are in fact there and working to the satisfaction of the faa. remember, they are still facing a lot of cr

samira hussain, bbc news, new york.nt at a theme park in north yorkshire. in sport, jofra archer takes two wickets as england tried to defend 311 to win the opening match of the men's cricket world cup against south africa, who have since been going along nicely, 125—2 after 22 of their 50 overs. kyle edmund is out of the french open, forced to retire with a knee injury after losing the first two set up a second—round match against pablo cuevas. and another trophy won, but the key architects may not be around long to celebrate, eden hazard and maurizio sarri are very much up in the air. more on those stories just after 4:30. a man has been stabbed to death in a busy street near edinburgh castle in the centre of the city. emergency services were called tojohnston terrace just before two o'clock this afternoon. the man, aged in his 20s, was pronounced dead by scottish ambulance service staff. police have arrested another man in connection with the incident and are appealing for witnesses. tony blair's former spokesman ala

samira hussain is outside the nasdaq, where the flotation is happening.in it? that is a totally valid question and it is certainly something we have been talking a lot about when we see these uniform —— unicorn companies that are starting to become publicly trading. in this case, a lot of people rc in quite a bit of potential when it comes to the arena of these fake meat products. there are more vegetarians and movie guns and this particular product is actually marketing itself to meet eaters who perhaps want to reduce how much red meat that they on a regular basis. what investors are saying is that there is a lot of potential and this is one of the first companies like this to start to become a publicly traded company. but you are right, it is a company that has not made a profit. investors don't necessarily want to see it make a profit right away. they want to see the company really spending a lot of money to try and invest, to try and grow the business, but soon afterwards, they expect to see a profit. is the fake meat market competitive? it is certain

samira hussain is in new york. what do they want in new york?, they don't get any sick leave, and of course, they are also protesting their wages. they also wa nt protesting their wages. they also want to see an increase in the amount of wages. right now, i'm outside penn station in midtown and just behind me, you can see a taxi line. you will see that there is actually not a lot of people standing in line waiting for a yellow ca b. standing in line waiting for a yellow cab. but just a few hours ago, the line went all the way down the block and around the corner. that was because it was in the middle of a protest by uber drivers. from 7am to 9am local time, nobody could get a uber or a lyft and that had an impact on the number of taxis available to passengers. sounds like it is causing quite a bit of disruption where you are. uber i5 preparing to float this week, making its debut on the stock market, quite considerable amount it is being valued at as well, which is not bad given that it has not quite made a profit yet. and it doesn't intend to m