it came as a surprise that he decided to focus on us- surprise that he decided to focus on us— china t created gyrations in the market. the year before, 2017, was one that has been pushed along with the us tech, but moving into 2019, he is focusing on the border wall, that's creating quite a bit of friction for the market, but he really sees the us— china trade negotiation success as a win for himself and for his party. jingyi pan speaking to me earlier. bendy smart phones that can fold into a tablet had been tipped as the future of handsets, and plenty are expected at the ces technology show in las vegas. samsung has already announced plans for a folding phone, but it is a company called royal thatis but it is a company called royal that is expected to be the first to market. darren simmons had a play. i got the chance to use the world's first flexible smartphone, it folds into a tablet as well, and that is the secret of it, it is called the flex pie, it is five years from the company called royal. so what's it like? quite heavy and it feels quite bulky. putting it in your pocket, an

after a grim 2018 in us—china relations, expectations of trade talks in beijing were so low that evenre enough to comfort stock markets and the us dollar. and american trade negotiators weren't the only visitors to beijing. north korean leader kimjong un was also in town, talking to chinese president xijinping about the prospects for a second denuclearisation summit with president trump. trade and security — two huge dimensions of the us—china relationship with kim jong un as wild card. at the start of 2019, how does it all fit together? i think this is a question first for isabel as the long—time china watcher in our midst. let us talk about the trade relationship. we saw the talks into a third day, we saw the chinese making warmish boys is about conssessions, we sought president trump talk about progress and markets left. do you share the optimism? pulled back from the brink. hanging over this is the threat that board tariffs would be opposed by trump at these talks are not reach some sort of conclusion. 0n the upside both leaders want a positive result so xi jinping's economy was a

the new boss of goldman sachs tells us he supports president trump's stand against china over trade. at's the latest from the world economic forum in davos. and on the markets, asian shares on the rise after a rally in us tech stocks. crude jumping on the prospect of oil sanctions on venezuela. and the pound on track for its best week in over a year — as uk prime minister theresa may faces growing pressure to rule out a no—deal brexit. we start in venezuela, which faces a deepening economic crisis, as the standoff continues between president nicolas maduro and opposition leaderjuan guaido. the us, together with many other nations, is recognising mr guaido as interim president and vowing to cut off the existing government's source of revenue. that could take the form of further sanctions according to president trump. venezuela already faces various restrictions on accessing us financial markets. but not, so far, on its vital oil industry. oil makes up 95% of venezuela's revenue and the us is the biggest customer. more than half of that revenue, though, goes straight back out again to s

we start in the us where trade tensions with china could be from t—mobile us and other american companies— —— . the wall streetjournal says huawei could be indicted soon. the company has refused to comment on the reports. our technology reporter dave lee has more from san francisco. huawei is being accused of stealing trade secrets from t—mobile us, including a concept known as tapping. it has devices on its networks. according to us reports, the state of the investigation means there could be charges relatively soon. neither huawei all t—mobile us have commented on those reports. huawei is effectively blocked from greek any business in the us because the american security services are concerned that ageing eight years the compa ny‘s devices concerned that ageing eight years the company's devices and products to spy on americans. tensions between the two countries have been intensified recently because huawei's chief financial officer was arrested in canada late last year. she is accused by the us of engaging in massive bank fraud. the next hearing in that case is due to take place early

and that's because the us government is concerned that china might use them to spy on americans.any evidence in the world of any issues regarding huawei and huawei products, and we're more than happy to have a conversation with the us government about how to come up with a security insurance framework geared towards the united states. tensions rose further when huawei's chief financial officer, meng wa nzhou, was arrested in december. she is fighting extradition to the united states, where she faces charges of bank fraud, allegations she denies. and then there is the ongoing trade war between the two countries, which threatens to impact tech firms greatly. the climate is making it harder for chinese companies to find success in the us. chinese brands in the us have always struggled, so they never have had a significant market share. i think, with the amount of power that huawei has, they could have had a really big impact, again, as we've seen with the rest of europe, on the us market. most here hope and expect the trade dispute to pass, but there is a growing atmosphere of suspi

renewed hopes of a resolution to the us—china trade war has lifted some asian markets, on news a us delegationl visit china next week. after apple's shock sales warning and amid signs of slowing growth in asia, what's the global economic outlook for 2019? the ftse 100 recovered a little, the ftse100 recovered a little, the european markets open in a bit. we'll do some crystal ball gazing with our business correspondent andrew walker. and we're asking you, do you worry about the amount of time your children spend on screens? a new uk study says you don't have to be. get in touch. we're on twitter using the hashtag #bbcbizlive. hello and welcome to business live. lots to get through today. we begin in washington where the stalemate over government funding continues. as we've been reporting, the house of representatives has passed a budget bill without the $5 billion of funding for president trump's border wall with mexico. that means it stands little chance of getting through the republican—controlled senate. the standoff has led to a shutdown of parts of the us government, now entering its 14th

the world bank warns the trade war between the two biggest economies — the us and china — is increasing risks to the global economy. and india's top court rules the copper plant — at the centre of deadly protests last year — can reopen. we'll cross live to mumbai. and the bouyant mood on global financial markets is continuing in asia today as investors hope the trade talks underway in beijing will lead to a breakthrough. the world bank has warned of increasing risks — or what it calls darkening skies for the global economy. it says escalating conflict over international trade could lead to slower growth this year and next. it now predicts global growth of 2.9% this year and 2.8% in 2020, slightly below earlier forecasts. estimates for virtually all regions have been downgraded. the world bank singles out trade tensions between the world's two biggest economies — the us and china — as a particular concern, along with rising government and corporate debt. there are signs of progress in us—china talks in beijing, the first since presidents donald trump and xijinping agreed a 90—day truce i

what is your reaction to the comments we have had over the last few days from the us and china. tive can we be?” last few days from the us and china. how positive can we be? i think it is very much turning into a binary eventin is very much turning into a binary event in respect to the outcome of trade negotiations over the next few days. the two most likely outcome is a bad there is a permanent ceasefire with tariffs of the table but that is contingent on negotiations over the next three months. the alternative outcome is a further escalation from 10% to 25% on tariffs. the chance of those two outcomes are even. it is very much in ourview outcomes are even. it is very much in our view unpredictable. since the gee 20, the large and is —— latest information allows us asked to provide positive predictions. but looking at the potential outcome, it has all been symbolic and cosmetic in nature whereas the substance of trade negotiations are yet to be developed over the next 90 days. at this point we have not changed our base wine view that the tariff will rise but the odds of an all—o

. >> our firm has a lot of us trading so with china our advantages were used hour technical knowledge to help us look to the chinese future the future of chinese market and technology that is our differentiation from our competitors in china. the reason we don't invest outside china as much because we are also a local investment firm we don't understand enough about the markets of the us and other countries. over time we would like to invest globally. >>host: born in taiwan educated at carnegie mellon the subtitle of your book china and silicon valley in the new world order when you read that you can see the font sizes are getting smaller and smaller so how do those three intertwined? . >> i worked in silicon valley understand how silicon valley thinks. i respect greatly the innovative breakthrough and innovations that have come from silicon valley. but having spent about 15 years total working in china , i also think china has developed some amazing business models and new ways of innovation and entrepreneurship that our worthy to be studied and respected equal footing. and in partic

or china, but from the us perspective, and that is the huawei or china, but from the us perspec makingg the t is the huawei or china, but from the us perspec m world, |e t is the this piece by piece to - piece by piece to thel piece by piece to the heart e by piece to the heart of ty piece to the heart of the ece to the heart of the us and they go to the heart of the us china trade - stealing china trade wars. stealing intellectual property of american ihat is . companies, that is one allegation. funds . the us m in order to defraud the united states and profit from it is uflited states and grofit fromitjs are at uflited states and grofit fromitjs core are at uflited states and grofit fromitjs core of are at uflited states and grofit fromitjs core of the are at uflited states and grofit fromitjs core of the debate are at uflited states and grofit fromitjs core of the debate between ll.e e .-.-.-e .-.l ll.e aelle lelee— us ll.e e .-.-.le el ll.e lelle leleel us andi ll.e e .-.-.le el ll.e lelle leleel us and i this the us and china and i think this is us‘s way of very clearly saying the us‘s

us now is business reporter mariko oi. what is likely to happen in the talks? as you can imagine, talks will be overshadowed by what's going on in beijing and what president trump calls china'sces. remember, his administration has slapped tariffs worth $250 billion on chinese goods. in retaliation, beijing countered that with duties on $110 billion of us goods. it is notjust a big trade deficit mr trump keeps complaining about. beijing has been accused of stealing or pressuring companies to hand over technology. injune the eu put forward a challenge against the world trade organisation in china saying that beijing prevent foreign companies from protecting and profiting from their own technology. the tension has cast doubt on the wto's ability to handle disputes and the global trade body can't even appointjudges who are responsible for settling these disputes because the us has blocked it. trade officials from the eu, canada and japan among others will meet later this month to review vital wto reforms, so lots to talk about later this evening in washington. indeed, thank you so much for the update, my colleague, mariko 0i. in other news making headlines, in the next half—an—h

that's because the us government is concerned that china might use them to spy on americans.f any issues regarding huawei and their the products. and we are more than happy to have a conversation with the us government about how to come up with a security insurance framework geared towards the united states. tensions rose further when huawei's chief financial officer, meng wanzhou, was arrested in december. she is fighting extradition to the united states, where she faces charges of bank fraud, allegations she denies. and then, there's the ongoing trade war between the two countries, which threatens to impact tech firms greatly. the climate is making it harder for chinese companies to find success in the us. chinese brands in the us have always struggled, so they've never had a significant market share. i think with the amount of power that huawei has, they could have had a really big impact, again, as we've seen with the rest of europe, on the us market. most here hope and expect the trade dispute to pass, but there is a growing atmosphere of suspicion between the two global

but the simmering tensions across the globe, such as the us china trade war, brexit in europe and in us a partial government shutdown, reaching a global agreement is another mountain to climb. so much more to come from sally throughout the week here on bbc news the search tuning for from the world economic forum in davos. there are just 66 days now until the uk is scheduled to leave the european union. but for business, like everyone else, there is little clarity on what things will look like come 29th march. in a few hours time prime minister thersea may will chair her weekly cabinet meeting and try to get them to back her plan for more consultations but no radical change of direction. the so—called irish backstop remains one of the main sticking points. it's supposed to stop a physical border on the island of ireland in the event a trade deal can't be reached between the two sides. meanwhile an amendment tabled by labour keeps open the prospect of a second referendum. marc ostwald is chief economist for the adm investor services international. hejoins us now. it is a lot to he join

but i don‘t think china sees that any more. and now that the usg the last months, i think that donald trump‘s upper hand is slowly disappearing. personally, amy, you are from the northern part of china, what is the sentiment on the ground ? of china, what is the sentiment on the ground? how is it affecting everyday people in the mainland? people actually watching this news closely. there is a high degree of uncertainty among the people. that has had the confidence level, if you talk to the people, they don‘t know what is going to happen next and they don‘t think the government knows. and that is quite something new. they not used to that is not planning forfive new. they not used to that is not planning for five years, is not getting very precise goals, so all this uncertainty is very new to the chinese people and therefore affecting their consumption. chinese people and therefore affecting their consumptionm chinese people and therefore affecting their consumption. if you ta ke affecting their consumption. if you take a look at the latest economi

there is clearly impact from the us— china trade war, which is very real, but i think it is somethingow expensive it is phones are for consumers in china. and there are so many factors affecting it, notjust the us— china trade war, but also because the economy in china is slowing down anyway, and you are seeing slowing down anyway, and you are seeing consumers are slowing down anyway, and you are seeing consumers are borrowing less and relying on credit less in china. you are also seeing with smartphones, against, not specific to apple only, but people are holding onto their smartphones longer. actual volumes in terms of the number of units sold peaked in 2016, so we are well more than tee yea rs 2016, so we are well more than tee years on from when they were the most number of smartphones sold an apple has been able to compensate for that for the last 18 months or two years because it has continued to push its prices up. there are a lot of reasons why i think everything is converging on this issue, and china is the microscope, 01’ issue, and china is the microscope, or the petrie dis

the us— china trade will cast a shadow over 2018.ar with hope that the resolution would occur to the conflict, however theissueis would occur to the conflict, however the issue is beijing's overseas investment under its belt and road initiative which china insists is an infrastructure programme to boost trade and prosperity, but critics are warning of "debt trap diplomacy", as our correspondent reports. this is the main road connecting pakistan with china, it is nearly 1000 kilometres long, but its single lanes 1000 kilometres long, but its single la nes ofte n 1000 kilometres long, but its single lanes often become clogged with traffic. to reducejourney times, the new highway is being built along this stretch, with the help of a chinese loan. it is part of a broader series of chinese funded infrastructure and energy projects, the china — pakistan economic project. for both countries the advantages of kpec are clear, through this project china can access the arabian sea on the pakistani post, cutting import and export times, and paki

china needed. the other side of it is that a lot of this market opening, especially around services, which is where the us china was already beginning to do because it is better for its own economy as it re bala nces is better for its own economy as it rebalances to open up the services sector, which is more domestically oriented, it has its middle—class consumers, and has us pressure deterred china from doing that so they can save it as a bargaining chip to put back on the table? so i don't necessarily think a trade war is the best way to move things along. but what is clear is that the best thing about a trade war is when it is over. and just really quickly, the outlook this year for the global economy? it is on a cyclical downturn and if you have a trade war than that will accelerate that downturn, so it is not a good time for the americans or the chinese, and the americans have the 2020 elections coming up. and the americans have the 2020 elections coming uplj and the americans have the 2020 elections coming up. i think both sides know that, that they? good to have you on the programme. —— know that,

they are in the red after wall street fell on growing concerns about the negative impact of the us— chinassimism triggered by the slowing chinese economy was compounded with donald trump's economic adviser who was forced to deny reports that us officials cancelled trade talks with their chinese counterparts. let's look at the nikkei 225, down 0.5% and the all ordinaries is losing 0.3%. as for the us, they had deeper losses with the dow down 1.2%, the snp down1.4% and losses with the dow down 1.2%, the snp down 1.4% and the nasdaq was in the red by 1.9%. michelle fleury ran me through the events in new york. three words for you, global economic slowdown. those fears resurfaced and soured the mood on wall street on what was the first trading day here as us markets were shut for a public holiday on monday. we have those gloomy forecast from the international monetary fund, couple it with weak data out of china and it with weak data out of china and it set the tone for the day, the dow as you mention fell more than 300 points, led by losses in companies like caterpillar, the three main indice

us now is business reporter mariko oi. what is likely to happen in the talks? as you can imagine, talks will be overshadowed by what's going on in beijing and what president trump calls china'stices. remember, his administration has slapped tariffs worth $250 billion on chinese goods. in retaliation, beijing countered that with duties on $110 billion of us goods. it is notjust a big trade deficit mr trump keeps complaining about. beijing has been accused of stealing or pressuring companies to hand over technology. injune the eu put forward a challenge against the world trade organisation in china saying that beijing prevent foreign companies from protecting and profiting from their own technology. the tension has cast doubt on the wto's ability to handle disputes and the global trade body can't even appointjudges who are responsible for settling these disputes because the us has blocked it. trade officials from the eu, canada and japan among others will meet later this month to review vital wto reforms, so lots to talk about later this evening in washington. indeed, thank you so much for the update, my colleague, mariko oi. in other news making headlines, in the next half—an

heard china repeatedly saying that she must be released and it's not any way to conduct trade negotiations. it's very hard to see how this may not come decay trade negotiations going ahead between the us that, i note you will stay across this story for us. for now, thank you. let's see what the markets are doing. in asia, that's the closing numberfrom doing. in asia, that's the closing number from the dow on friday. yesterday, the markets shut for martin luther king day. they reopen later. investors worried about the prospects for global economic growth, that has had an impact, they are moving further away from risky assets. let's look at european stocks. easyjet a big name on the london market coming out with its figures, good sales considering, however, it's that a true issue in gatwick that has cost of around $20 million, the share price up around 296. and now, here's what's ahead on wall street today. us market are closed on monday, the week on wall street begins on tuesday. the pharmaceutical and consumer goods companyjohnson and johnson reports its earnings, expected to report a profit in the last quarter. johnson and johnson is facing thousands of lawsuits related to its talcum

john, we will discuss china us trade inafew john, we will discuss china us trade in a few minutes, itng year for me with a lot to achieve. i would let them —— like to mention brexit is a mistake, but the sun will shine again on the uk and it could have been brighter. thank you for all your thoughts. see you in a moment. hello there. the new year brought a change to the feel of our weather across the uk. a cold front slipping south on new year's day allowed the winds to swing round to a northerly, and that has brought a return to some night—time frost as well. so those of you up early on wednesday, particularly the further west, will start off cold and frosty. there should be some decent spells of sunshine here, though. and that's how we stay throughout much of the day. the exception is likely to be across north sea coasts. that northerly wind just driving in more cloud in off the coastline, and anywhere through east anglia down towards the kent coast at risk of still catching an isolated shower. also, a little more cloud perhaps along west facing coasts, but sandwiched in between the

for me, what is really on the negotiating table between china and the us. is very dependent on trade, on exports to both china and to the us, so any tensions over trade and the economy between those two giants have of course crucial implications for asia asa course crucial implications for asia as a region. in other business news making headlines, california democrat nancy pelosi has been elected as speaker, third most powerful role in washington, in the us house of representatives, she reclaimed the gavel after the most diverse class a lawmakers were sworn in, and as democrats took control of the house after mid—term election gains, which comes after mid—term election gains, which co m es after after mid—term election gains, which comes after the us government is still partly shut down in a row over funds for the president's border wall. and congressional leaders are expected to return to the white house later to resume talks after failing to end the partial government shutdown. in talks with president trump on wednesday, he has made it clear that he will

china as an up and coming economy. there are handful of issues with which the us and china are in conflict, the us would like to see chinaes and forward along with process of resolving those issues g forward along with the oi'i on trade is us and :-:777 us and for tiff- us and for some if: us and for some time. 1 us and for some time. i 7 we'll wellslié progress but i think we'll make progress but i think we'll make progress but i think this is that will of the l;;f“"~ there have m—jfj * f— q”— particularly the openness china p. had ilarly the openness china p. had ilarly the op( to ess china p. had ilarly the op( to us china p. had ilarly the op( to us have a p. had ilarly the op( to us have to p. i§§§e%ly the op( tn china veto pn i§§§e%ly the opn tn china bratty of and and it i “i fi think in the us services. i think in the us we want to see a 11 playing field g services. i think in the us we want to se to 11 playing field g services. i think in the us we want to se to see laying field g services. i think in the us we want to se to see laying protected. the want to see issues protected. the administration! a want to se

as well as what this tells us about china's space programme, what it tells us about china as a countryraordinary, fiona. when you think where china was when the us last visited the moon in 1972, it was impoverished, suffering that political chaos of the cultural revolution, and its own space programme had barely got off the ground. given that, this really is a giant leap. studio: john sudworth in beijing, thank you. so what does this moon landing tell us about china's place in a new space race? our science editor david shukman is here. yes, by any standards, china landing on the far side of the moon is a real achievement. after decades of trying to catch up with the americans, the russians, and the europeans in space, the chinese have now shown they can be pioneers as well. haunting and barren, much of the surface of the moon has been well known for centuries. but this is the side we see from earth. by contrast, the far side is far more mysterious, with the deepest craters. and when nasa considered landing astronauts there back in the ‘60s, the idea was rejected as too risky. in this i

problematic in terms of international relationships and our objective with china not to excuse the chinese but they don't exempt us from that obligation to have a strategy. >> there is something different not just where you could argue dumping on the world markets that china seems to follow a fundamentally different economic model. >> china has grown spectacularly they have developed more sophistication. but if we are to suppose tremendous success of a company like ali baba is a reflection then that's just not right. >> so that challenge that is posed to us in artificial intelligence primarily because they cheated is wrong if the reason china has grown more rapidly and longer is per my one - - primarily about cheating that would be wrong to we in the united states need to be very clear we are entitled and we are right to reject chinese cheating and a violation of the rules and rules that don't cover unfair practices we are right to be against d that but when our position is that china is not allowed to succeed because it's wrong for them to succeed that is an untenable position for us politically and economically

one is the us-china tariff war. neither side has to my knowledge, claimed a legitimacy under the international rules for the latest rounds of tariff escalation against each other. it's not my position to condone or condemn any party, any member, but my neutrality does not extend to the wto. which i happen to favor. and i think that the rules have to play a role. when china came into the wto , and you, european negotiator and a chinese negotiators were talking and the eu negotiator said you drive on both sides of the road. what he meant was, there's market orientation and there's the party. there's non-market aspects. and the person on the other side reported life, the eu person told me said we are always going to drive on both sides of the road. okay. the us and the chinese are not driving on both sides of the road in a slightly different context, namely, some things are within the rules and some things are not within the rules. what should be done, the way to a solution i would hope, the truce that exists, they tau

well the next round of the us china trade battle begins and both sides appear to be quite enthusiastic just had a long and very good call would presume she of china deal is moving along very well if made it will be very comprehensive covering all subjects areas and points of dispute big progress being made us trade negotiators will optimistically and constructively communicate with the chinese delegation on the important agreements achieved by the two leaders during the meeting in argentina this is the first formal meeting since presidents donald trump and the xi jinping agreed a ninety day truce last month when washington hit the pause button on the shuttle to increase in tariffs and beijing vowed to buy more products from the u.s. and there's no doubt that for both countries this ongoing trade war has stirred up the financial markets and dampened their economic outlook we saw a number of companies who have suffered financial losses and they are finger pointing towards the top political dogs for being responsible for a decline in their profits apple didn't hold back in airing its view

big trading partner china and the us. antially to japan, to the united states, to europe. japan is exports to china dropped 7% for the third quarter, the japanese economy contracted by 2.5%. it is likely to contracted by 2.5%. it is likely to contract again in due form. the global economy is slowing down. the imf is slightly late to the party because investors have reasoned that the economy is going to slow down and it coincides with the ncb constraining as quantitative easing programme. they have got a meeting tomorrow. i don't think they are going to be anywhere near as positive as they thought they would be at the end of last year. we are ona be at the end of last year. we are on a class —— we are on the cusp of a slowdown, the question is, how big is it? this worry is reflected in the markets, isn't it? the china us trade talks were not going so well, and that is a surprise, this will be and that is a surprise, this will be a long drawn—out saga. coming off the back of a decent rally for european and asian markets sinc

detailed figures showing how the us and china trade war is affecting imports and exports are among economicdelayed this week as the partial shutdown of the us government drags on. the commerce department's release of the international trade report for november is postponed and a notice on their website says that the agency will not be publishing any data during the shutdown. but don't worry if you're at a loss with what to do, you can turn your attention to las vegas, where the consumer electronics show kicks off. joining us now is simon french, who's the chief economist at panmure gordon. america's leading stock exchange facing potentially new competition, nine firms trying to create an alternative stock exchange which they say will cut costs 12 are on by companies that have responsibility to generate profits to their shareholders and that will be pushing up prices and there is an attempt to push down prices. once the financial crisis a lot of the banks that you mentioned, a lot of the activity that previously was very profitable, regulators have stopped them conducting and they are lookin

trade tensions between china and the us we re tensions between china and the us were partly to blamepeople choosing to upgrade their iphones. apple shares fell more than 6% on the news. in a letter to investors, the boss of apple, tim cook, said we did not foresee the magnitude of the economic deceleration, particularly in greater china. he went on to add, we believe the economic environment in china has been further impacted by rising trade tensions with the united states. the financial markets, this is likely to add fuel to the fire after another day that saw the main us indexes swing back and forth from negative into a positive territory. investors are worried that weakness will ultimately hurt the us economy. as well as trade markets also worried about the federal reserve and their plans to raise interest rates this year. could it be another factor that could choke growth? comments from the white house on wednesday didn't appear to have much of an impact. president trump claimed a glitch for the market's poor performance in december for the glitch for the market's poor performanc

the us—china trade dispute continues to dominate the headlines.ot a lot of attention this week for the wrong reasons. 0ur economics correspondent andrew walker will be here in a few minutes to talk us through a hectic week of business stories. you're with business live from bbc news. richard branson's virgin atlantic hasjoined a group to bid for troubled airline flybe. the group, which includes stobart air and hedge fund cyrus capital partners, hopes to run the airline under the virgin atlantic brand to compliment its long haul services. we can talk now to our correspondent theo leggett. first of all explain to me exactly what is behind this deal, why would it make sense to all involved parties? quite simply because flybe is losing money and on its own it doesn't have the financial clout to keep operating until it can recover. flybe has been losing quite a lot of money, it operates not so densely used regional routes using small aircraft and it has been trying to cut costs but it has been hit by a combination of high fuel prices and a fall in the

the us and china sit down for fresh talks — but what hope of progress to end the trade war? ve from london, that's our top story on monday the seventh january. they're the first formal talks between us and chinese officials since the start of a three—month truce in a trade war that's shaken global markets and damaged business confidence. also in the programme... from super resolution tvs, intelligent toilets and bendy phones, we take a peek inside the annual tech fair, the consumer electronics show, taking place in las vegas. and markets in europe starting a fresh week like this... some central bank help in china and calming words from the us but are they enough to ease investors fears of a slowdown? and we'll be getting the inside track on the business of new year resolutions and the january fitness boom — we find out if post—christmas regimes are a bit of turkey or real investment in our health and well being. today we want to know what's your new year resolution, have you broken yours already? let us know, just use the hashtag bbcbizlive hello and welcome to business live.

market however no one wanted to go on the record about the current straits tensions between china and us and the consequences the tensions are already slowing down business especially for startups and smaller companies to don't have the flexibility of large attack rivals. east cooter anybody could make a jetson for example says it is using the show to meet with merchants and talk with competition about moving its supply chain out of china to vietnam. we will continue to look into their actions and new territories all over the world . where it ends up it's undetermined at this point but i believe it's our obligation to explore. it's wage war could lead to higher prices and trapping for some however think that president is not all wrong on china. i think. trying to. do the number of the billion years for this trading for the purpose of broad so you know i want to see a little bit more fairness and that respect for us it's negative in the short term but you know maybe seventy percent of things that i've seen in my generation in the long run c.s. is about new tech trends and connecting with

the trade war between the us and china isn't over. global growth is slowing. lar is making life tougher for us exporters. plus, you can forget the jolt of caffeine from tax reform, which helped lift corporate profits and stock prices at the start of last year. so, what does 2019 hold? well, the earnings calendar is off to a slow start. the pace of companies turning in their report card doesn't pick up until later in the month. well, we should get a glimpse into the health of us manufacturing. economists expect the purchasing managers' index for december to drop to 53.9, as heightened economic worries take their toll. that would be the second monthly drop. now, this is still only an amber—light warning, rather than a flashing red signal. readings above 50 indicate an expansion in manufacturing. michelle in new york looking at what the markets have in store. joining us now isjeremy stretch, head of currency strategy, at cibc world markets. hgppy happy new year. the markets are not very happy? it isa the markets are not very happy? it is a contrast to 2018 where m

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looking at the trade relationship between the us and china, it seems to be improving so we believe it of safe dollars which has been driving sentiment over the last few months. and will also play positively. and let's face it, the world is now less stable than i was at any world is now less stable than i was atany time world is now less stable than i was at any time in the last ten years so i think this is why gold has such significant appeal. you also look at other markets such as oil and there was a great line about oil markets going from the out how and how after extending the best winning streak in a decade. widdy think oil prices will be? it is a difficult call because getting a directional plan for willis challenging. we know opec is cutting production which provides support. we know the trade war will be quite positive for commodity prices however we are still dealing with a global growth weak data coming out of china, coming out of europe, andi coming out of china, coming out of europe, and i think that oil prices will struggle to reach the topside ambition this year. and ther

that's because the us government is concerned that china might use them to spy on americans.een the two countries which threatens to impact tech firms greatly. most here hope and expect the trade disputes to pass. there is a growing atmosphere of suspicion between the two global superpowers over how they use new technology. dave lee, bbc news, in las vegas. what other business stories has the media been taking an interest in? jane foley is joining us again to discuss. that's talk about japan's, beef, british beef, going to japan once again, after the mad cow crisis, and british land, this is all to do with the japanese prime ministers visiting theresa may today? yeah, so he is in london, clearly it is good for uk farmers if they can trigger beef and lamb going tojapan for uk farmers if they can trigger beef and lamb going to japan for the first time since 1996. but there is the other side of the coin is well. we've got to remember what prime minister bay represents, he really is the world flag flyer of free trade. there is something potentially which be done for both sides po

be used by china for spying, the compa ny‘s cfo and be used by china for spying, the company's cfo andmonth. china says the us extradition request over allegations of breaching sanctions on the run is politically motivated. the same charge, however, is level that china for its subsequent detention of two canadian systems at an academic and a businessman. journalists were allowed to speak to a senior huawei executive but not on camera. even then, the company was hardly forthcoming. i asked whether its insistence that it is independent of the chinese government, if that was being undermined by the vocal and forthright diplomacy on its behalf, as well as the detention of two canadian citizens here, no comment, was the reply. huawei was putting a brave face on it today. the message, business as usual. the political question, however, they are unlikely to go away. climate change is redrawing the map of the arctic, according to a warning by scientists meeting in norway. in what researchers claim is the first sign of a major modern climatic shift, they say the barents sea, which has been part

in washington, the us and china are due to hold their highest level talks since the two sides struck robin brant is following this for us from shanghai. robin, this has been going on a while, this trade spat and now we get to the point where talks can resume. are we expecting any real progress? what we are expecting, i think, is signs of progress, plenty of time for agreement to be signed off by president xi and donald trump but we are not going to get white smoke emanating out of these talks and some kind of deal. china, led by the country's lead negotiator, and the country's lead negotiator, and the president's chief economic adviser, have gone to washington, dc trying to persuade the americans that they are serious about some of the structural reforms the americans w011. the structural reforms the americans won. i don't think there is a debate about trade imbalances, they have already pledged to buy more soy beans from american farmers and perhaps more el mg. what this will come down to is the big changes some around donald trump want to see and thatis around donald trump want to

the us and china. washington between the us and china. the report. good morning, hello, afi it is denies the report. good morning, hello, “:"5 it is the §§i§ héllfi fififlfl lffléé'fifigfié‘ 3&5. héllfi fififlfl lffléé'fifigfié‘ iam 33i3. h3113 $3513 ie33313354433 i am glad 33i3. h3113 $3513 ie33313354433 lam glzf you can.-,,,,, —— — 33i3. h3113 $3513 ie33313354433 iam glzf you canjoin' ~ . 33i3. h3113 $3513 ie33313354433 i am glzf you canjoin us . . weekend. i am glad you canjoin us for asia business report. renault and the car with renault and the car manufacturer confirmed it is considering plans to replace the chairman and ceo carlos ghosn with a board meeting this weekend. the announcement came one day after the french finance minister called for a change in the leadership. the statement comes in the wake of a tokyo court's statement comes in the wake of a tokyo cou rt‘s refusal to statement comes in the wake of a tokyo court's refusal to release mr carlos ghosn on bail as he awaits trial in japan on carlos ghosn on bail as he awaits trial injapan on

is all going to but one thing is for sure we're not going to be bored watching this next round of china us trading. a few hours before the talks on monday u.s. angered china by sailing a destroyer past disputed islands in the south china sea a spokeswoman for the u.s. pacific fleet said the move was not intended as a political statement but china called it a violation of international law china analyst botching liu told us that the incident is unlikely to affect trade negotiations. so i think it's the pentagon's you know actual maneuverability of the thought that the u.s. dominance in the maritime sea particularly with the so many of their former allies will not be challenged we believe that a china kind of radio work out of its policies asian neighbors without the intervention on the pretext of freedom moment of negotiation is really being for very much a stretched to the us interpretation but. that doesn't really correlate well as the go in the. name begun because those guys are there preoccupied or. resolving or trading bassman a market access issue so i do not think that is that really

the us economy comes from the rest of the world and from china and europe. here policies program policies are desperately needed. maria: what about earnings in the us? earnings growth of 22% in 2,018 and now we are looking at what percent? down to 5%, 4% for profit growth for the s&p 500 in 2019. does that not concern you? we are being reminded that the smb companies are much more international than the us economy. maria: china and europe. >> yes, china and europe. we will see that and continue i will see a lot more differentiation but the reality is if global surges and the rest of the world slowing. maria: how do you invest and allocate capital in an environment where we know china is slowing in europe has problems? slowdown is one of them you got budget issues in italy and brexit issues in the uk buyers take place in france and upset over leadership there. >> all your saint comes out were no longer in the sweet spot. when everything was aligned. fundamentals were lined policies were supportive of people believed you should buy every single day. we are no l

us. what is going on in china?er the past week it has been the growth report revealing is the lowest in almost 30 yea rs, followed revealing is the lowest in almost 30 years, followed up by exports dipping, particularly to its major economies. this is indeed showing that the mainland economy is heading south. now, earnings at china's industrial companies shrank for a second straight month in december on slowing prices and sluggish factory activity, and the downbeat data points to more troubles ahead for the country's vast manufacturing sector, already struggling with a decline in orders, job layoffs and factory closures due to a bitter dispute with the united states, and china's economic growth slipped to 6.6% last year, the weakest expansion in 28 years, stoking fears ofa expansion in 28 years, stoking fears of a sharp slowdown if the current us- of a sharp slowdown if the current us— china trade talks failed to stop further tariffs being implemented after a 90 day truce which ends on the first of march. profits i

there are signs of progress in us—china talks in beijing, the first since presidents donald trump and90—day truce in buenos aires last month. the beijing talks have been extended to a third day, with mr trump tweeting that they're going "very well". dr yujie, china research fellow at chatham house is with me now. this looking at what the world bank had to say, warning of increasing risks, what do you make of the warning? it is new forecast, so not much is lower than the previous one. there is nothing quite new in that report at all. the chinese economy slows down at the end of last year a nyway slows down at the end of last year anyway into four. the government orientation is to have much more slower growth, looking for a more sta ble slower growth, looking for a more stable economy. we are expecting a much more conservative policy from the chinese government. it highlights the risks out there that are very difficult to predict. for example, the trade discussions in beijing on day three, if they do not bear fruit, we could beijing on day three, if they do not bearfruit, we could have

my biggest worry is a policy mistake of some kind and in particular trade policy mistake if the us and china allow this -- trade spat to turn into a could be a serious problem both for the us and china and that could be a recession scenario. let's check in on the day trading action now wall street is falling is trading resumes after the martin lutherer king day holiday. the dow jones has plummeted four hundred and fifty points caterpillar shares dropping nearly 4% at the nasdaq slipping nearly two and a half percent there. with less than an hour to go until the closing bell. earlier on european markets closed lower thehe fifty one hundred d dropping about 1%n london at the docks and get count about half that. ubs shares drop three percentage cpas lenders fourth quarter results missed expectations. banks net profit for twenty eighteen jumped sharply but clients pulled out a whopping thirteen billion dollars in assets during last year's market volatility. ubs chief executive said the results were not up to his ambitions and warned uncertainty in a number of areas could affect this year's perfo