the world trade organisation in crisis as the world shuts down its appeals court.d morning, asia. hello, well. thanks forjoining us for this edition of asia business report. i'm rico hizon. let's start off with the gaming sector, because japan's nintendo is officially launching its popular switch gaming console in china today. interestingly it is teaming up with tencent, perhaps the biggest gaming company in the world. the japanese giant is best known for games and characters like mario and pokemon which are popular in the mainland, but it doesn't mean that it won't be a challenging environment for the company. to curb gaming addiction, children under 18 are banned from playing online between 10pm in the evening until 8am in the morning on weekdays, in addition to regulation, consul gaming is not as popular in china. most people play games on their smartphones. nintendo‘s rival, sony, launched its playstation 4 console in china four years ago but failed to make any headway. earlier i asked an analyst way nintendo didn't enter the smartphone market.” an analyst way

now let's talk about the world trade organisation, because the trade body no longer has enough judgesnational trade disputes. that's after the united states blocked the appointment of two newjudges, claiming they were being treated unfairly by the wto. the bbc asked the director general of the group how big of a blow was this to the global trade system. it's clearly a big blow because the regular way that the disputes are conducted in the wto is completely paralysed at this point in time. but that doesn't mean dispute settlement is stopped. in fact, members can still resolve their disputes to consultations, panels and they are thinking about other mechanisms such as arbitration or good offices of the director—general. so there are a number of things that can be done that will be a stopgap solution while we are trying to fix the situation of the regular channel. that is do the upper —— that is through the upper late body —— appelate. we have more information on the bbc news website. you can see the detail, trade a huge issue in business at the moment in daily moving markets given what

world trade organization into disarray. well but there has been a lot of criticism in regards to the world trade organisation not just under president donald trump but also under the obama administration what the united states is basically looking for is not treating china especially in a different way but the same way as the united states and also a lot of a european countries are getting treated china does not have to follow the same rules even as it is the 2nd biggest to me in the world obviously change is important but as i said we already had other presidents who did not replace the judges necessary saw the whole thing may be escalated under u.s. president donald trump but it clearly did not start with this administration cord in new york thank you. and now to some of the other global business stories making the news a u.s. judge has ruled in favor of us all a giant exxon mobile saying there was no evidence investors were misled about the true cost of addressing climate change the company was accused of causing investors a total of $1600000000.00 in losses by using inappropriate accounting methods saudi arabia's centr

more now in the aviation sector because the world trade 0rganisation sector because the world trade organisationropean union claims that it no longer provides subsidies to plane maker airbus. the ruling has prompted the us to say it would increase retaliatory tariffs on a wider range of european goods. in october, the us was awarded the right to impose ta riffs us was awarded the right to impose tariffs on $7.5 billion worth of eu imports in its case against airbus. global climate talks have opened in madrid where negotiators from almost 200 countries will meet for two weeks. their headline goal is carbon neutrality by 2050. but the question is how? right now, the world is not on track, and investors are also watching to see how the so—called carbon markets will work. these markets can offer credits to countries and companies that cut or eliminate carbon emissions, but there is no regulation as of yet. 0ur correspondent explains why it is important to come up with rules. 0ur correspondent explains why it is important to come up with rulesm is absolutely critical that the rules that are put in pl

a dispute about disputes at the world trade organisation leaves the trade body in crisis. and nintendo flips the switch in china as it attempts to crack the country's lucrative gaming market. and on the financial markets in asia, shares are edging higher with investors very cautious ahead of the central bank meetings in the us and europe. they are looking a little flat. a global survey out today suggests young people view climate change as one of the biggest challenges facing the world. it comes as the environmental activist, greta thunberg, is set to address government ministers meeting in madrid. the survey by amnesty international covered 10,000 young people and climate change came top of the list of challenges facing the world. the impact of this rising concern is predicted to have a dramatic impact on polluting industries. it's estimated the world's 10 biggest oil and gas firms could lose 31% of their current value. meanwhile, other sectors could gain. the same analysis suggests car makers, which move swiftly to electric vehicles, could more than double in value. a fe

today marks a landmark in world trade — the world trade organisation is losing its appeals court — yesnction without judges and two of the final three judges, their term of office expires today. the united states has a hand in this. it has no been happy with some of the way the trade decisions have been taken by the court and has been blocking the appointment. we will go to michelle who is standing by in new york. hello my yell. this pa rt by in new york. hello my yell. this part of the world trade organisation has been in place since 1995, so it has been in place since 1995, so it has had a good run, almost 25 year, how did we get to this point? well, i think the the united states and certainly the trump administration has been clear, it has been unhappy with the way disputes are resolved within the world health organization for a while now, you have had —— world trade organisation, you have had people jumping up world trade organisation, you have had peoplejumping up and down saying they are unhappy and something needed to change. they claimed that not enough has been done, that thei

quick deal, and it would be the quickest deal in history, there is the risk of no deal with world trade organisationth the eu in the first place. thank you for that update. boeing are suspending the production of its 737 max aircraft which had been the subject of intense scrutiny following two fatal crashes. samira hussainjoins samira hussain joins us. samira hussainjoins us. why is boeing taking this decision? since march this year, those 737 max planes have not been allowed to fly. boeing has continued to manufacture those planes but they haven't been able to deliver them to customers so they are building these massive planes and they remain on their facilities so now boeing has had to really ask themselves these questions. the planes were not going to be scheduled to fly by the end of this year. boeing wanted to get them certified and up and running but it has been made very clear by us regulators that is not going to happen to the company had to make a decision and this was certainly a massive financial decision. it is cost boeing more than $9 billion and it cost continues to rise. and it is wor

a dispute about disputes at the world trade organisation leaves the trade body in crisis. market. and on the financial markets in asia, shares are edging higher with investors very cautious ahead of the central bank meetings in the us and europe. they are looking a little flat.

the eu, what are the likely benefits to the new zealand economy exporting to the uk under world trade organisationouldn't make any assumptions before we have the ability to move into a negotiation. of course, our goal is to make markets more accessible for new zealand products by removing the barriers, so i wouldn't say that's a natural by—product. for us, it is about saying we are complementary, i don't think the domestic market and the producers of food in the uk need to be nervous about greater access for new zealand products because, for instance, seasonally we are complementary, so there is a nice synergy there. when you are in winter, we are in summer. so there's benefits between our markets having greater access to one another. for us as well, we like to add particular quality to our products. take for instance new zealand lamb, we have a particular lamb product that's high in omegas, it's been likened to eating fish. so we try to create a proposition that can differentiate from products that you might otherwise be able to be access. so for us, it is simply about increasing that trading rel

we would leave the eu but then still have the chance of world trade organisation terms at the end ofeal. it is not likely. but if that did happen independent economists say that could hike up borrowing to the same levels of what labour planned. and i thought about labour and what we have been hearing there? we heard about the education plans, 20,000 new teachers and cutting class sizes. a lot of focus on what has been a smorgasbord of retail offers, a bit like black friday. i thousand pounds per household was the claim. a couple of issues they are in the numbers. an average household doesn't have two season ticket holding rail commuters, that's not average. and also the plan for free broadband, that's not average. and also the plan forfree broadband, £364 that's not average. and also the plan for free broadband, £364 per year, they claim that will save... that doesn't kick in in their plans until 2030. thank you. three members of the european parliament have resigned from the brexit party and called on leave voters to back the conservatives in the election. lance forman, lucy harris

the world trade organisation is in crisis. disputes because the us is blocking newjudges appointments, because president trump doesn't think his country is being treated fairly by the wto the bbc asked the director general of the group whether any lasting fix can happen while trump is still in the white house. i think so. we are talking to the us administration and i think we understand better today how deep their concerns are and how widespread they are. i think we are beginning to have the kind of conversation that will allow us to figure out the kind of changes that are needed to find a solution. our lead story an outside source, the articles of impeachment have been laid by the democrats, a series of votes on these articles. one alleges an abuse of power and the other an obstruction of congress. if the house of representatives votes in support of impeachment and we think that vote will be on thursday, we could be looking at the president going on trial in the us senate in january. for the reaction on that in a few moments

could be going out into an extremely damaging situation in terms of the world trade 0rganisation. terms of the world trade organisationthose protections were in the agreement which labour party could have supported also as well in the plan by theresa may. those ships have now sales. you are saying to me what i have liked a bad deal to a terribly bad deal? the answer is i would have preferred a good deal and that is what we tried to negotiate with theresa may, but unfortunately she was not prepared... by holding out, we do end up in a position that we leave the european union without the dealer and it could have been different. sentiment of course it could. but to say to any government that holds a gun to your head that you either accept this or we do something even more stupid is not a recipe for a stable negotiating position. when he ran for deputy leaderfor position. when he ran for deputy leader for your position. when he ran for deputy leaderfor your party? position. when he ran for deputy leader for your party?|j position. when he ran for deputy leader for your party? i have not made any decision. it is speculati

departure lounge without knowing what is on the other side, go into what would just be a world trade organisationa very abrupt economic break with the situation we have got. however, it is not quite that binary. there is a spectrum of patches and bits and pieces where you could find pieces of a trade deal being concluded in that time, if not an all singing, all dancing version having been done. but, without question, the political debate is going to go round and round and round this issue for much of next year. take a look at what is happening in buckingham palace, because the state cars are leaving, and in the first car we have the imperial state crown, and accompanying the crown is the controller of the lord chamberlain's office, lieutenant colonel michael vernon, and the police escort leading the way down the mall. in the second car, we have more royal regalia, the cap of maintenance and the sort of state, and then we have the sort of state, and then we have the third car being the police escort. as we look at these pictures, the crown arriving in parliament, a symbol, a supreme symbol of the

period with no trade agreement, which means we will fall back on the most basic rules of the world trade organisationtop that would mean the payment of tariffs and so forth, it would mean even more border checks than there would be still if we managed to negotiate a basic trade deal, so i think there will be ways to get through it, but certainly for businesses and for many consumers, it would not be the ideal scenario. 0k, chris, thank you very much. chris morris in the newsroom. the debate is continuing here in the commons. back to the studio. the headlines on bbc news... the prime minister‘s brexit plan will go to a commons vote later, paving the way for the uk to leave the eu onjanuary 31st. the head of the financial conduct authority — andrew bailey — is named as the next governor of the bank of england. trains and road travel is severely disrupted on one of the busiest travel days of the year — gatwick services are affected and there‘s disruption in devon and cornwall. in in devon and cornwall. sport, we expect an annour from in sport, we expect an announcement from arsenal today. they are set t

jungle the world trade organization is facing its biggest crisis since it was founded a quarter century ago director general roberto azevedo had hoped to resolve the impasse but instead the organisation can no longer deliver rulings on trade disputes because washington has blocked the appointment of new judges to its appellate panel the panel was made up of 7 judges for whose terms of expired have not been replaced because of the united states has blocked the naming of their replacements 2 of the remaining 3 are due to leave on wednesday with only one member remaining the court will no longer be able to issue rulings. as a result there will no longer be an independent body to intervene in trade conflicts the stronger side will probably prevail roberto azevedo wants to turn the crisis into an opportunity. on tuesday he insists that the w t o had to be reformed without this sense of crisis there would probably be an accommodation and members would not be so very inclined to change things and to change the system make the system more responsive to the changes that we see out there now one example is the treatment of china which is given preferential status as a developing country many a

trade talks. as world leaders meet to mark the 70th anniversary of nato president trump has accused president macron of france of being nasty about the future of the organisation. five women who alleged they were abused byjeffrey epstein urged prince andrew to testify in the cases. a 12—year—old boy who died yesterday when a car hit a group of children in essex has been named as harley watson. in the moment we join the team for sportsday but first on bbc news this evening, we have the latest on donald trump and his visit to the uk. he is currently attending a reception hosted by the queen and will then head to downing street. that is at eight o'clock this evening. then we bring you the latest on the general election campaign trail with adam fleming and chris mason and then the winner of the turner prize this year will be announced and we have a special programme from margate in kent. that is all to come on bbc news but now time for sportsday. hello and welcome to sportsday — i'm jane dougall. not one series win this year. so have england droppd the ball on test cricket? she's the best known women's footballer, but is she actually the best? megan rapinoe wins t

trade talks. as world leaders meet to mark the 70th aninversary of nato, president trump accuses president macron of france of being ‘nasty‘ about the organisationear boy, killed yesterday when a car hit a group of children near a school in essex, has been named as harley watson. sport and for a full round up, from the bbc sport centre, here's ben. hello there. it's a groundbreaking night in the premier league with live matches being broadcast on an online streaming platform for the first time. amazon have bought rights to this week's fixtures. two taking place tonight. burnley are hosting manchester city in a rare 8:15 kick off. city desperately need to claw back points on leaders liverpool after conceding more ground on saturday. currently 0—0. you can listen to it on radio 5 live. on radio five live sports extra, it's crystal palace against bournemouth. approaching half—time at selhurst park. currently 0—0. mamadou sakho has already been sent off for palace afterjust 19 minutes. tomorrow night, manchester united host tottenham. a return to old trafford forjose mourinho — and he could inflict more pain on his replacement as united boss. 0le gu

trade talks. the president willjoin world leaders in london this afternoon to celebrate 70 years of nato. he's already defended the organisationwho allege they were abused byjeffrey epstein urge prince andrew to testify in their cases. and in sport: there's a dreadful missed catch from joe denly, as england's cricketers draw the second test in new zealand, and lose the series. manchester united manager 0le gunnar solskjaer says he's not worried about his job, despite the rumours and the recent glut of sackings. and anthony joshua says he's reinvented himself, as he prepares for his re—match with andy ruinunior, who took his three world heavyweight titles in the summer. i'll be back with more at half past four. let's get the latest from the general election now, and with just over a week to go, all of the political parties are still on the campaign trail. all of the political parties 0ur political correspondent ben wright is travelling with the prime minister, and they are currently in hampshire. he has a very busy day ahead of him, hasn't he? he does, that's right. before the nato summit begins, boris johnson made a quick trip

trade talks. as world leaders meet to mark the 70th anniversary of nato president trump has accused president macron of france of being nasty about the future of the organisationr hit a group of children in essex has been named as harley

trade talks. as world leaders meet to mark the 70th aninversary of nato, president trump accuses president macron of france of being ‘nasty‘ about the organisationn urge prince andrew to testify in their cases. the 12 year boy, killed yesterday when a car hit a group of children near a school in essex, has been named as harley watson. also coming up — the works of art competing to win the prestigious turner prize — with the winner due to be announced tonight. sport now and a full round up from the bbc sport centre. with the recent spate of sackings in the premier league recently, you could understand if manchester united manager 0le gunnar soljkaer was worried about his job, however, he insists he is not concerned. united are ninth in the table follwoing their worst start to a campaign in 31 years. arsenal, watford and tottenham have all sacked their managers, so there has been mounting pressure on solkjaer. he admits they've had too many draws that should have been wins, but he played down talk of him being next. it doesn't make me more concerned, i'm just focusing on myjob, and that is just doing as well as i can and looking forward to the nex