mariko oi in our singapore newsroom and michelle fleury in the new york bureau. meanwhile, donald trump has cancelled a planned meeting with president putin of a naval clash between ukraine and russia. on twitter, the us president said he would not meet his russian counterpart at the 620 summit based on the fact the ships and sailors have not been returned. on sunday, russian border guards fired on three ukrainian ships and seized their ci’ews ukrainian ships and seized their crews off the crimean peninsula. worries about the us china trade war and how long it could drag on is all so and how long it could drag on is all so in fact in taiwan, located just next to mainland china. the island nation sees opportunities from this ongoing trade dispute and has been actively wooing investors. cindy sue has the details. these robots are being put to work at this new factory in taiwan, which makes smart tinting glass. it's a $100 million investment by a us company, kinestro technologies. the us trade award was one of the reasons why the company chose taiwan over mainland

michelle fleury there. joining us is richard dunbar is investment director at aberdeen standard investments. 6ood good morning. it has been quite the week on currency trading. explain why? there is a lot going on, sterling seems to be navigating the chaos at westminster well, better than many may have expected. the 620 summit will have, i suspect, implications for many currencies. the dollar has had a tailwind over the last 12 months in terms of turbulent markets and interest rates going up. the tailwind seems to be turning slightly. and that dollar, it all kicked off when we had the head of the us federal reserve giving his speech. what we talked about was what a lot of investors wa nted about was what a lot of investors wanted to hear, a cooling down in the rate at which, interest rates we re the rate at which, interest rates were hinting at it, erased in the us. there's a knock on across the world, with riskier assets? this was the us economy with a huge stimulus in the tax cuts which appears to be dying

we sent michelle fleury to check out what the the new york location is like. iam standing i am standing here in long island city in queens, new york. a former industrial area that over the last year has seen a massive boom in residential high—rise building. now the technology giant, along with virginia, will become home to its second headquarters outside of seattle. amazon's surprise decision is to an end a highly publicised contest which saw over 200 cities and towns across the united states all vying to come home to the retailer ‘s second massive headquarters. why? because it is perceived to bring the massive economic benefits and job. in the end, it was virginia and new york offering a combined $2 billion in tax incentives that one. the company said part of the reason of the decision was because they were looking for something which had good access to transport, where i am standing is not farfrom access to transport, where i am standing is not far from two airports, but the other factor was talent to. they said it was key to be able to recruit a kind of

but with a big shift in how people shop, the retail business is scrambling to adapt, as michelle fleury reports from new york. a big show to get you to buy things — the holiday windows at fifth ave. to grab people's attention, retailers and malls are increasingly relying on experiences to drive traffic. a few years ago retailers were desperate to avoid this fate. crickets. at this new york mall, the trees are up, santa is coming, and the ice rink opens next week. leading into the holidays, we have a lot going on. people generally come, they spend time here. the more time that they spend here, hopefully the ancillary benefit is they spend money in the shops. in new york, thousands are wide—eyed as these figures herald the annual macy's day parade. the macy's parade, which began in 192a, introduced spectacle to the holiday. since then a lot has changed, especially with the growth of online shopping. black friday has become synonymous with frenzied scenes like this. but shoppers are growing tired. they want something fresh. well, more than ever you have to offer the customer an experie

our new york business correspondent michelle fleury gave us the details. some of this was due to a sell—off in the oil. if you look at stocks like exxon mobile, they saw more than one percentage point drop. that its concerns about slowing growth. if you talk about goldman sachs, this stock for its worst loss in many months. this is to do with the scandal concerns in malaysia with 1mdb and who knew what at the bank and how far rocket went. there are concerns about some of the investigations going on. and then you have apple. one of its suppliers came out and basically said that the manfred product was left than had been expected. that led to fears that perhaps demand for apple products was not as strong as people previously thought. if you want to try and draw all this together, the story is one of us growth. how strong is it against the backdrop of an ongoing traits but with china. there is also the strength of the us dollar, how much will that hurt american companies train to compete abroad? so that was michelle in new york for is explaining what is hap

our new york business correspondent michelle fleury explains why this all happened. some of this was due to a sell—off in oil. looking at stocks like exxon mobil, seeing a 1% drop. that is concerns about slowing growth. if you talk about goldman sachs, this was a stock that saw its worst loss in many months. this is to do with the 1mdb scandal and concerns about who knew what at the bank and how farup it who knew what at the bank and how far up it went. there are concerns about some of the investigations going on and the impact. then you've got apple, one of its suppliers came out and basically said demand for the product was less than it had been expecting. that led to fears demand for apple products wasn't as strong as people thought. if you wa nt to strong as people thought. if you want to try and draw all of this together, the story is one of us growth. how strong is it crazy this against the backdrop of an trades spat between the us and china —— how strong is it? —— a trade spat. russian president vladimir putin is making his mark in asia. for the very

the bbc‘s michelle fleury has more from new york. a big show to get you to buy things — the holiday windows at fifth ave. to grab people's attention, retailers and mauls are relying on the experiences to drive traffic. —— malls. a few years ago retailers we re malls. a few years ago retailers were desperate to avoid this fate. crickets. at this new york mall, the trees are, santa is coming and the ice rink opens next week. leading into the holidays people have a lot going on. people generally come and spend time here. the more time that they spend here hopefully the benefit is they spend money in the shops. in new york thousands are wide—eyed as these figures herald the annual parade. the macy's parade, which began in 1924, the macy's parade, which began in 192a, introduced spectacle to the holiday. since then a lot has changed, especially with the growth of online shopping. black friday has become synonymous with frenzied scenes like this. but shoppers are growing tired. they want something fresh. more than ever you have to

michelle fleury reports from new york. the president vented his frustration — where else — but on twitter. he wrote that he was very disappointed and that he was looking at cutting all gm subsidies, including full electric cars. general motors made a big bet on china years ago when they built pla nts china years ago when they built plants there and in mexico, i don't think that it is going to pay off, i am here to protect america's workers. it is not immediately clear what specific subsidies the president had in mind, or whether he would be able to follow through on his threat. some of the subsidies would require changes to the law, for which he needs the help of legislators. gm's decision to close factories has angered many politicians, perhaps none more, though, than mr trump, who has promised to bring back american manufacturing. gm defended its decision. ina in a statement they said they plan to position the company for long—term success and maintain and grow americanjobs. many of us workers impacted by these act

our business reporter in new york michelle fleury has the details. judging by the numbers walmart‘s determination to ta ke numbers walmart‘s determination to take on amazon appears to be increasing. the e—commerce brand was boosted by the online grocery business, while store sales grew 3% in the third quarter. if you look heading into the holiday season, walmart, which also ownsjet.com is poised to overtake apple in online sales according to one survey. now this would put the world's largest retailer behind only amazon and ebay. but it has come at a price. it has had to spend more and sacrifice profit margin to achieve these competitive gains. and if you look at thursday's closing stock price, investors punished walmart for that. more generally with the us economy doing well it is perhaps no surprise that american retailers recorded their strongest sales in five months. but the picture is definitely less rosy once you start looking at individual companies. for example, for every walmart reporting an increase in sales, there is a on which was gl

and michelle fleury has the details of what's ahead on wall street today. cable company viacom reports its fourth—quarter profits this friday. its bottom line is likely to be boosted by a strong performance from paramount. the latest mission impossible film franchise is expected to boost profits, and licensing revenue should also get a lift this quarter. that follows paramount tv‘s launch of tom clancy's jack ryan on amazon prime and maniac on netflix. 0n the economic front, the federal reserve publishes industrial production figures — a key manufacturing indicator. economists are forecasting a 0.2% rise in october. this follows the 0.3% rise in september. even though the sector is benefiting from strong consumer demand and lower corporate taxes, trade tensions with china are a concern. joining us is lawrence gosling, editor in chief of what investment magazine. good to have you with us. good to have you with uslj good to have you with us. i think it will be slightly, on the markets today, certainly in london, i think there will be some traders that h

michelle fleury explains more from new york. you had the chief executive mary barra talking earlier and she described changing market conditions — translated, it means sales beginning to slow or soften the united states, and also we have seen the market slow in china. as a result, general motors has been the latest carmaker to respond to that, to adapt, and so it's cutting a huge swathe of the lineup, the number of models it sells, and that means plant closures and jobs going. now, investors cheered the news, the share price went up, but obviously, it is a huge blow for those communities where the plants are located. also making news today: one of china's high—profile capitalists, jack ma, the co—founder of the e—commerce group alibaba, has been revealed as a communist party member. the party newspaper made the disclosure while including him in a list of 100 people who'd contributed most to china's economic reform. analysts say it represents a reminder that powerful entrepreneurs are still subject to communist party rule

michelle fleury reports from new york. a big show to get you to buy things, this is the holiday windows at saks fifth avenue. to grab people's attention retailers and malls are increasingly relying on experiences to drive traffic. but shoppers are growing tired. they want something fresh. more than ever you have to offer the customer an experience. they want to be able to eat, they want to be able to experience, health and wellness is important to them. they want all of that at one time. they are notjust coming in to make a transaction. if they want a transaction they go online. so if brick and mortar stores want customers to open their wallets this holiday season they can't just rely on sales, they will have to include a show. it is not just it is notjust sales in the states. they are everywhere. have you bought anything? not yet. i object to black friday starting a week before. simon is back to look through some of the papers. we as to what you thought about sleep debt, whether we should be sleeping at work. this is what

michelle fleury explains more from new york. you had the chief executive talking earlier and she described changing market conditions, translated it means market conditions, translated it m ea ns sales market conditions, translated it means sales beginning to slow or soft in the united states and also we have seen the market is low in china. —— softened. as a result, general motors has been the latest carmaker to respond to that, to adapt, and so it is cutting a huge swathe of the lineup, at the number of models it sells, and that means plant closures and jobs going. now, investors cheered the news, the share price went up and obviously, is the huge blow for those communities where the plants are located. —— it is a. also making news today... one of china's high—profile capitalists, jack ma, the co—founder of the e—commerce group alibaba, has been revealed as a communist party member. the party newspaper made the disclosure while including him in a list of 100 people who'd contributed most to china's economic refor

michelle fleury has more on the shopping in america. americans traditionally celebrate first‘s thanksgiving day holiday by first eating turkey and then going shopping. black friday is the retail industry‘s equivalent of the super bowl. sometimes referred to as the biggest shopping day of the year here in the united states. now, with the economy humming along nicely, us shoppers are expected to spend up to 4.8% more than they did last year. but, despite high hopes for the holiday season, investors are concerned companies like walmart and target face greater pressure on profit margins as they try to win more e—commerce dollars. now, as for the us markets, they will be open for half day this friday. that‘s until 1pm eastern time. the volume of trading is expected to be light. but there may be some volatility at the end of what‘s been a tough week for stocks. joining us is sue noffke, uk equities fund manager at schroders. has been a tough week for stocks, a quiet week, but oil prices are very much back in focus. they have got dow

michelle fleury has an update what's happening on wall street. us and canadian firms report earnings for the third quarter, this is seen as the third quarter, this is seen as the biggest financial test of the companies since canada legalised the recreational use of cannabis in 0ctober. bobo quarter doesn't cover the period when pot use was legalised investors will be looking for any clues on how sales are doing. and fresh on the heels of lows announcing it was closing 20 stories rival home depot reports its third—quarter earnings, watch out for what it tells us about the current state of the us housing market, consumers remaining confident the affordability of housing is still an issue that could dent future sales. joining us is maike currie, who's the investment director at fidelity international. lovely to see you. michelle talking about some of the issues, rupert talking about this meeting injapan, it would seem there are lots of discussions about trade and critically for markets today, the treasury secretary in the us will meet with the vic

and michelle fleury has the details of what's ahead on wall street today. attention shoppers, mail ready be sick and tired of all lovers of great deals but today is cyber monday, promoted by online retailers of the day for exceptional bargains. how did it get started? back in 2005, the national retail federation in the us noticed a spike in online spending on the monday after the american thanksgiving holiday. they put it down to people making purchases on office computers where the internet connection was faster. so they coined the term monday to describe the trends and an annual shopping event was born. while it is known in the us has the biggest online shopping day of the year, it is not the biggest in the world. that honour goes to single stay in china. it is a quiet day for company earnings on the economic ‘s front look out for the latest regional manufacturing report. let's just bring you some breaking news coming in from italy. we understand the italian government has had a bit of a climb—down. it has had a bit of a climb—down. it has had a bit

michelle fleury in new york. why are mental cigarettes getting banned? you are seeing a renewed focus on the regulator here to try and clamp down on youth smoking and as part of that i looking at what they can do and one of those is a loophole that allowed flavoured cigarettes to continue to be sold with less restrictions than others. this is all reports at this stage and has not been confirmed but the prospect that could have a knock effect essentially banning menthol cigarettes, investors are looking at companies which sell the cigarettes, and in the case of the 80, become the makes a quarter of their profits from the sale of menthol cigarettes and the idea is causing agony for investors —— and in the case of bat. thanks forjoining us. we have some the numbers in from singles day in china. this is the enormous online shopping frenzy created by the chinese company alibaba. are you ready for these? $30.8bn was spent. it's world's biggest shopping event. it took just 85 seconds for the first $ibn of that to be spent. that's up 27% on the spending last

michelle fleury in new york. before we get to the big stuff, why is it called a chicken tax? you have to go back to 1964. lyndon b. johnson at the time introduced a tariff on trucks being imported into america. at the time it was because there were taxes or tariffs imposed on us chickens imported to western europe. that is the reason it is called the chicken tax. it has remained in place and still in place today. this demonstration is proposing extending into cars and the focus is to do with europe and japan particularly, to try and get them to reduce their tariffs on imports of us cars. in other words donald trump wants to sell more american cars overseas. does the ca rd american cars overseas. does the card industry in america want this? —— the american car industry? they've expect a lot of concern and a think it will cost their industry a think it will cost their industry a lot of money. in part this has to do with how car production takes place nowadays. it is very global, it is very integrated. for example, you can have a part that art is life in one part of the worl

let's go to the united states and michelle fleu ry to the united states and michelle fleury is our correspondence there. it's a shocking story. and it could be one of the biggest ever? that's right, they got an alert from their security system, pointing out that something was going on and there was an attempted breach. when they looked into it, they discovered it we nt looked into it, they discovered it went all the way back to 2014, it had been going on for four years at the starwood division of the company, affecting all these guests who had come and stayed and shared information on their registration system. there were details about passport numbers, all of that they fear has been revealed. also credit ca rd fear has been revealed. also credit card details, typically they are encrypted but there was concern that possibly, whoever the hacker is, they have the key to that and they can essentially get the details and expiration dates. not clear but we are waiting to find out more. in the uk, the data regulator has said they are looking into this. it is significant because if you recall that eu ru

let's talk to michelle fleury, new york business correspondent. airbnb is not a publicly listed company, you will not find stock traded where we are standing, but investors are paying attention, the company has been under pressure for some time, there is a lobbying group, urging companies to boycott doing business because of the west bank, this is a quick history recapture, israel ceded control of the west bank in 1967 —— seized control. airbnb is now saying that it struggles with the decision but has decided it is best to pull re ntal has decided it is best to pull rental listings, some rental listings that are expected to be pulled in the next couple of days. human rights watch have responded: the air being the decision to end its listing is an important recognition that such listings cannot square with its human rights responsibilities, but it is worth pointing out that airbnb made this announcement on the eve of publication by human rights watch, looking at rental companies in the we st looking at rental companies in the west bank. not the

michelle fleury, new york stock exchange. why is this a big deal? how valuable are these companies and which is the most valuable now as we are talking? i wasjust checking the share price while you were testing simon on his market knowledge and i can tell you that the microsoft share price isjust a little can tell you that the microsoft share price is just a little that hired at the moment, up 1.4%, but that being said, the market capitalisation which is what people been talking about for the last 24 hours still puts apple in the lead when talking about the most valuable company by market share. the reason we are all talking about it is because apple have seen this big drop from the1 because apple have seen this big drop from the 1 trillion mark back in early october, for several reasons. concerns about the new iphones, that sales will be disappointing. concerns about changing trade policies in america and how that might affect apple and its hardware and suppliers going forward. the fact of the ongoing talk about trade disputes with china, all of th