Theresa may has suffered a narrow defeat on a key vote on the brexit bill. It means terms for a final deal need to be approved by a new law passed by parliament. Now on bbc news all the latest Business News live from singapore. A third rate hike in 2017. The Us Central Bank raises Interest Rates at its final policy meeting for the year. And the head of a key vote over the internet, we tell you why the new Net Neutrality rules matters to american businesses. Good morning, asia. Hello, world. It is a thursday. Glad you could join us. We saw the worlds most powerful central bank is continuing to tighten monetary policy, the Federal Reserve raising short term borrowing costs or the third time this year, this time by 0. 25 . Janet yellen said the decision was made following a set of positive numbers. Following a set of positive numbers. Following a slowdown in the first quarter, Economic Growth stepped up to a solid 3. 25 pace in the second and third quarters of the year. Household spending has been expanding at a moderate rate. Business investment has picked up on favourable Economic Conditions abroad have supported exports. 0verall, abroad have supported exports. Overall, we continue to expect the economy will expand at a moderate pace. Investors in the us market is excited about this latest development with the dowjones industrial average soaring by 80 points to a new record high. As the us currency, it is up against the majors. As for asia, not Much Movement in japan or australia. Earlier, i spoke to our Business Reporter in washington who said while the decision was expected, questions remain over whether the federer can reach its inflation targets. Whether the Federal Reserve. This was the third rate hike this year on the fifth since the gst and the reasons for it according to janet yellen are addressed a press conference some time ago are essentially a continued confidence in Economic Growth in america so weve seen Economic Growth of more than 3 . Also, good news from the labour market. Unemployment at a 17 year low and those are the reasons why the Federal Reserve decided to go ahead with this rate hike. Its keeping with this rate hike. Its keeping with the policy to gradually increase rates and try to return with the situation as it was before the crisis. Continued Economic Growth. There is speculation that the Federal Reserve could raise between three and four times in 2018. There are projections of three rate cuts next year and three in 2019 but of course, there are uncertainties for Janet Yellens successoi, uncertainties for Janet Yellens successor, john powell, who takes overin successor, john powell, who takes over in february. 0ne uncertainty is that tax bill. Eventually there will be one consolidated version that donald trump signs on but what kind of impact will that tax bill have on the economy . That is the uncertainty that will hang overjerome powell when he takes over the chair. Janet yellen steps down in february. Her legacy . In many ways, she has already made history as the first woman to be the chair but apart from that, and economic legacy. If you just go buy a survey done with the wall streetjournal were they asked economists how they would rate hurt more than 60 rated her, they gave ita more than 60 rated her, they gave it a great which means she has done a good job. Certainly the economy, strong Economic Growth. Unemployment ata strong Economic Growth. Unemployment at a 17 yellow. But there have been problem areas. Below the 2 target that the Federal Reserve sets. Hong kongs de facto central bank has raised Interest Rates. The Monetary Authority raised points to 1. 75 . Hong kong tracks us rate moves because its currency is pegged to the us dollar. The Us Communications regulator is expected to vote to overturn Net Neutrality. If this is overturned it might mean Internet Service providers could charge companies more for their content to be accessed at better speeds creating Something Like internet fast lanes and slow lanes. A controversial topic but how much is the American Public know these issues . We asked the people in washington, dc. Have you heard of it before . No. The more you pay for internet, the more youve got the past year and it will work. Ido work. I do not know anything about neutrality. Companies like commcast or the other internet providers are going to put a higher premium. Ijust a higher premium. I just heard the a higher premium. Ijust heard the term. Its so corporations can make it slower to connect to certain sites. Idid see connect to certain sites. I did see the piece onjohn 0liver but i dont remember. Net neutrality is actually hugely important. In india they have tried to do this also had a lot of people dont like it. All internet traffic is treated the same matter where its come from, where its going or what its doing. Thats something we call Net Neutrality. Internet Service Providers might be able to intentionally slow down your Internet Connection unless you pay more for things like video streaming 01 more for things like video streaming or they warn that could be some kind of internet fast lane where big Rich Companies could pay to make sure their sites loaded quickly while other smaller sites would be stuck ina other smaller sites would be stuck in a slow lane instead. 0k, interesting. It should be fair and equal for all. Basically, its taking down our freedoms. The same amount, it shouldnt be different different websites. As far as Larger Companies being able to pay more to have access to your content little easier, im not sure i agree with that. Its the internet. Everybody should have access and actually have the same speed no matter what side you are looking at all going to. Well, this is the house of mickey mouse. Its now the sole bidder the zist mouse. Its now the sole bidder the 21st century foxs entertainment assets after commcast dropped out and according to some reports, disney fox could announce a deal as early as later today thursday in the united states. For more on this potential megadeal im joined by timothy mcdonald. Will it happen . M is anybodys guess. Even if it does go through, the regulators will look at it quite closely. This might be the house of mickey mouse but they are not mickey mouse players. It is very as is this. Potentially a 60 billion deal. We are talking about potentially 30 40 of us box office. 30 of movie goers see a product from either company. This seems to be driven by streaming. The entrance of big players like netflix on amazon. You might render the ceo of disney decided to pull disneys content of disney decided to pull disneys co nte nt of of disney decided to pull disneys content of netflix in advance of launching their own streaming service. With this deal potentially syd ney service. With this deal potentially sydney would also gain control in the controlling interest in another streaming service, hulu, in addition to the one it is launching for itself. It would be taking on the amazon and netflix types on two fronts. I guess the other thing is what it might mean for fox because they would be selling off a lot of deadbeat assets. Potentially fox studios are some of the crown jewels. Maybe Rupert Murdoch is going back to his first love, the news business. Looking forward to a potential megadeal in the industry. The south korean president , moon jae in is in china improving relations. China was upset so it banned travel agencies from selling packaged tour is and that really hurt south korean businesses because visitors from china made up nearly half of tourists last year. China partly lifted the ban last month but the damage has been done. The tourist industry is estimated to have lost 6. 5 billion. Earlier, i spoke to an economist who said the economy of south korea continues to do pretty well despite a dent in the tourism industry. South korea has been doing a lot better than most a nalysts been doing a lot better than most analysts expected at the beginning of the year. A lot of that has come from government support. The government has been quite accommodating. With that fiscal stimuli since 2014 and its obviously perked up domestic demand as well. Talking about frosty relations between china and south korea. And as if this edition of Asia Business report. Follow us on twitter. Great to have you with us. Eight people have been sentenced for smuggling drugs into prisons by using drones. Craig hickinbottom a former armed robber organised the flights from inside. Police have identified at least 49 drone flights carrying contraband thought to have been worth as much as £1. 2 million. Our Home Affairs CorrespondentDaniel Sandford has the story. Cameras originally set up to take pictures of wildlife catching instead britains most prolific drug smuggling gang. Recording the pilot Mervyn Foster time and again flying the drone from the field outside she will prison in worcestershire. Its illegal cargo hanging underneath from fishing line. From the field the smugglers had a view directly into the jail and the prison block where the drones cargo was pulled in through the windows. 0ver where the drones cargo was pulled in through the windows. Over the months, the gang grew in confidence and sophistication. They started by simply throwing the drugs over the prison wall but then they started using drones and they added to the contraband, mobile phones, weapons, screwdrivers and even a free view box with a remote control. Cameras inside the prison caught one of the ringleaders, craig hickinbottom, with an improvised took used to catch the fishing line and recover the contra band. The catch the fishing line and recover the contraband. The game, led by armed robber craig hickinbottom, is thought to have smuggled in over £1 million worth of drugs and phones continuing even after theyd been arrested and charged. The contact the contents of the loads on a leased 49 flights were specifically ordered by individual inmates from the midlands to scotland. The recent epidemic of drones being used to airlift contra band into epidemic of drones being used to airlift contraband into prison grew from nothing injust airlift contraband into prison grew from nothing in just four years. We didnt see this one coming so the drones literally came from nowhere, they were flown in and it actually just was a game changer for us so we had to look it up procedures and methods and intelligence and it gave dashed against the gangs opportunities to breach the perimeter is almost at the wolseley. To crack the case, officers downloaded the memories of the drones they seized and links back to mobile phone calls the smugglers we re mobile phone calls the smugglers were making. The prisons ministers had to invest millions of pounds in a new National Network of police and prison officers working together which helped catch this game. What weve shown here is that this is the most prolific gang weve come across and weve been able to deal with them. They are going to be serving jail time them. They are going to be serving jailtime and them. They are going to be serving jail time and that is huge success. But with huge profits being made by the smuggling gangs, keeping drones away from prisons is going to be a lengthy battle. Daniel sandford, bbc news. Hello, this is sport today, live from the bbc sport centre. Coming up on this programme four time Tour De France champion chris froome insists he has done nothing wrong, after an adverse test result. It is a record 15th Consecutive Premier League victory for manchester city. And history weighs heavily in australias favour, heading into the decisive third ashes test in perth. Welcome to the programme. Four time Tour De France winner chris froome is facing the prospect of being banned from cycling after an adverse drugs test. Froome registered twice the limit of a medication used to treat asthma during the vuelta in spain in september. Cyclings world governing body has launched an investigation. Chris froome has told the bbc that he understands this will come as a big shock to a lot of people, but insists he hasnt broken any rules. 0ur Sports Editor dan roan reports. Having come to dominate