Keeping across the latest market action, in europe they have opened up action, in europe they have opened up mixed, over in asia we saw stocks extend their winning run on friday, and also it was a similar story on wall street with a record closing high. We will get the inside track on brand trump. As the white house hijacked the Media Coverage of this yea rs world hijacked the Media Coverage of this years World Economic forum . I will talk to the global chief executive of the media and Advertising Agency dentsu aegis. Hello and welcome to business live. In just a few hours time the World Economic forum in davos will hear the speech theyve been waiting all week for. The us President Donald Trump is expected to repeat his call for an America First approach to International Trade and call on businesses to invest more in his country. Many of them will be concerned about the rise of protectionism. But the Trump Administration says they shouldnt be. In the words of senior white house Economic Advisor gary cohn America First is not america alone. And as the worlds biggest economy picked up last year so did the rest of the world. The International Monetary fund thinks Global Growth jumped to 3. 7 last year and will do even better this year partly because of President Trumps tax cuts. However, last year, as talk of protectionism grew, the world saw a 16 fall in foreign direct investment, thats when Companies Invest their money in foreign countries. In north america the fall was even bigger at 33 . Despite that the us was still the most popular country to invest in attracting more than 300 billion from abroad. Sally, over to you. Thank you, alice. Its been the talk of the week, the fact the president of the week, the fact the president of the week, the fact the president of the United States has come here and he has come here with the biggest delegation of any us president prior to this year at the World Economic forum. They have all come on message. They are all talking the talk and they are all making sure that we in the media are getting it very loud and very clear. Well, my colleague here, kamal ahmed, economics editor, has been talking to all sorts of people at the World Economic forum, among them larry fink, chief executive of the Investment Management firm black rock, and they did discuss Donald Trumps presence here. Lets listen to what he had to say. I think hes been good for the us economy and therefore its been good for the Global Economy. I may disagree with many things he has said and does but unquestionably the tax reform is going to add, you know, at least nine tenths of gdp to the us economy. Some of the deregulation that he has done has created less burden on companies and companies have been able to do more things. Do you worry about some of the more protectionist noises that are coming from the american administration, including the president . Is that a concern when you have also got here the leaders talking about globalisation and the need for multilateralism . So, im under the belief that globalisation has been good for more human beings than ever before. That does not mean that people have not been left behind in the uk, or left behind in the us. For some of them, globalisation has not been good. I think this is why we had brexit, i think this is why we have had the election of donald trump. Donald trump understood the fears and needs of people. Do you hope for a more conciliatory tone from the president when he speaks on friday . Im not anticipating that. But hopefully he surprises me. I think the president believes he has a mission to make America Great again and i think, you know, if you look at all of his behaviours, hes trying to execute on that. Whether i agree or disagree he is trying to execute on that. Thats larry fink, the global chief executive of black rock. Kamal is here. Its interesting, almost as if you didnt know how to answer that question, he had to think about what to say. Interesting talking to Business Leaders here, a lot of people last year when chinese premier xi jinping people last year when chinese premier xijinping was here were very nervous about donald trump when he had just won. Was he going to push through tax or regulation . This year the feeling is similar to larry finks tone, the economy has been boosted, tax reforms have been passed, the regulation reforms are going through the system and the whole Global Economy is starting to grow more quickly. So, for someone like larry fink and my colleague simonjack who like larry fink and my colleague simon jack who interviewed like larry fink and my colleague simonjack who interviewed lord black fine, the head of goldman sachs, they are saying you may not agree with all of the politics and controversy but when it comes to the brute economics President Trump has been pretty good for these people. Lets bring in one of our other colleagues. Karishma vaswani joins us from singapore. The reason i bring you in is because i know youre listening to kamal ahmed and myself and larry fink, but where you are its a totally different story, the tariffs on Steel Products in asia coming from the white house and the counter response from south korea. Indeed, sally, and all of this has to do with exactly what you and kamal ahmed have been talking about, the comments we expect to hear in this speech from donald trump in a few hours time, everyone in asia is waiting to see whether he makes good oii waiting to see whether he makes good on this America First policy. Wheel thatis on this America First policy. Wheel that is or what appears to be the first salvo in that policy, the tariffs you were talking about earlier, beijing and south korea. Many factories in malaysia and other parts of asia have also been complaining about these tariffs because they make products that are assembled in china and sold to the United States so with this official line is coming out of beijing there is a great deal of concern in this part of the world about what donald trump will say and we will have to wait and see for another few hours from now. Thanks a lot, karishma vaswani. If i can bring kamal ahmed back in, the conversations have been about a smarter way of doing trade, a different way, the old system not working as well, many in the world not feeling the benefit as it were. All of this Global Growth, and yet donald trump talking about America First, but that being a benefit to the world. Its an interesting conversation going on. It is slightly more nuanced than maybe this notion that america is protectionist. As you said he has a big entourage, he has steven mnuchin, the treasury secretary and wilbur ross, the commerce secretary, andi wilbur ross, the commerce secretary, and i spoke to them at their press conference yesterday and they said its not about protectionism or a trade war, is about rebalancing trade. He says that trade has been too asymmetric the way it has worked, so the disadvantage of america, he is saying i want more of a level Playing Field and thats what they are fighting for. The message today from donald trump when he speaks later at lunchtime will be, look, this can help everybody, lets have fairer trade, not trade wars, but some of that will mean extra trade tariffs and thats where the controversy comes. Kamal ahmed, thank you. We are going to let you 90, thank you. We are going to let you go, he has an extremely busy day ahead. Back to you, alice, in the studio. Thank you, sally, and your guests kamal ahmed and karishma. Lets take a look at some of the other stories making the news. Smartphone sales have fallen in china for the first time ever, according to analysts who say a50 million devices were sold last year, a96 million devices were sold last year, a less than in 2016. 0ppo and vivo we re a less than in 2016. 0ppo and vivo were the biggest losers but huawei has the biggest quarter in its home market. The computing giant intel says it sales hit grew 9 last year to hit a record 62. 8 billion thanks to strong sales of chips to data centres. Its a key growth area as it moves away from the declining pc industry. The company also benefitted from President Trumps tax reforms but warned that it will be negatively impacted by the two major computer chips flaws that were recently uncovered in many of its products. Starbucks shares fell 5 on thursday after the coffee chains First Quarter earnings missed analysts expectations for the fifth quarter in a row. Starbucks global same store sales rose 2 in the quarter against forecasts of 3 . 0n the upside, growth in china was robust it rose to 6 . Lets look and see what is happening on the markets. Stocks in asia extended their winning run to an 11th day on friday, the longest winning streak we have seen their sims 2015. However, japans nikkei bucked the trend to end the session down 0. 2 . Since 2015. World equity markets have rallied over the past year, buoyed by a synchronised uptick in Global Economic growth in a boon to corporate profits and stock valuations. The dow and snp 500 ended at their highest closing levels ever on thursday, although wall street relinquished bigger intraday gains after President Trumps strong dollar comments. They also helped the battered us currency win back some ground. The greenback had sunk to a three year low on thursday. Here in europe weve seen markets open higher. Mostly in london and frankfurt. In france they were slightly down but they have recovered now. In london the the pound has also inched some 0. 5 higher at 1. A2 following its ascent to a one and a half year high the previous day. 0ne company on wall street that will be in focus today is boeing because the plane maker expects to hear a final decision from the us on its trade with canadian rival bombardier. Samira hussain has the details on this. This jet is the pride of bombardiers fleet and the source of one of the most bitter trade disputes between canada and the United States in recent memory. These workers in Northern Ireland could end up paying the price. Big orders of bombardiers c series planes from american buyers prompted cries of unfair competition from us plane making giant boeing. Last year the Us Commerce Department slapped ta riffs of the Us Commerce Department slapped tariffs of almost 300 on any c series plane coming into the us are basically blocking the fleet from the american market. Bombardier took their complaints to the International Trade commission, which will make its ruling friday. Its why both uk Prime Minister theresa may and canadian Prime Ministerjustin trudeau have spoken personally with us President Donald Trump about this dispute. And all of this comes as both the uk and canada have an eye on negotiating good trade deals with the United States. But this dispute about bombardier could be a sign that easy trade relations with the Trump Administration is anything but certain. Samira hussain, bbc news, new york. Joining me in the studio is richard hunter, head of markets at into interactive investor. This bombardier argument has been around for awhile, what the it is a politically charged situation, the us and canada are having trade talks anyway, so this is kind of a poster child for what is going on there. And at the same time we have just seen the recent love in between theresa may at trump in davos, needless to say there is a potential impact onjobs needless to say there is a potential impact on jobs in needless to say there is a potential impact onjobs in Northern Ireland in terms of the aircraft building. So its a very interesting one and it seems the canadians are saying because this is usjurisdiction it seems the canadians are saying because this is us jurisdiction we are not expecting to win but we will find a very shortly. Interesting. I think sally has a question for us from davos. I have indeed. Its looking very cosy in that studio. Nice to see you, richard. Its chilly at the World Economic forum but its going together reheated later, im sure, when President Trump starts to speak. Richard, i wa nt trump starts to speak. Richard, i want to ask about some of the Economic News coming out today, us and uk growth figures, the talk all week is about the fact Global Growth is going gung ho. What began hear later . There to say that in terms of the us, sweet start at the moment, loose Monetary Policy unquestioned Global Growth of which the us is taking part, and also, we have that feeding through, as we have heard, to the markets, particularly in the states, described as the goldilocks economy, not too hot, not too cold, but little doubt that in challenging economic cycles, the us is nearer to the end, the next year or so is going to be interesting. In terms of the uk, doing 0k, doing betterthan some have suggested after the referendum result. By the same token, it is also fair to say that while we are seeing growth in the uk, probably not at the sort of level we would otherwise have seen without the brexit vote. The proof will be in the pudding, we will get the Fourth Quarter estimate in a little under an hours time. Still to come president stay on the podium, he delivers his America First message and encourages Global Companies to invest in the us. We are all waiting for it. Youre with business live from bbc news. As your car ever been damaged after you have hit a pothole on the road, it has happened to more and more of us it has happened to more and more of us according to the rac, they have released a report showing a jump in call outs due to poor road surfaces. Who is responsible for this, whose responsibility is it to fix potholes . Depends where they really are, so, if you find them in things like motorways or major roads, then it is the responsibility of people like highways england and traffic scotla nd like highways england and traffic scotland but, if as many of us do travel on local roads, where most journeys begin or end, that is the responsibility of local councils and here is where the big problem lies, because although that makes up 98 of the road network, about one 50th of the road network, about one 50th of the road network, about one 50th of the total money spent on road repairs is actually on those roads. Local councils have a big job on their hands. They feel in 2 million potholes a year, but they say that cost them a. A billion last year but they say that they would need about three times that amount in order to just clear the current backlog they have, let alone be able to spot problems as they appear in the future. Interesting, you have been out and about in essex, they are trialling a pothole stop the scheme, what can you tell is about that . have been hanging out with eddie the bin man in essex, as he did his rounds, this may seem crazy but it is the new front line on the war on potholes, in essex, in thurrock, they have cameras on top of the bin lorries, they take in every metre or so of the road and are therefore able to send data back to engineers to have a look at and see where potholes are developing, where there are already problems. This is happening notjust are already problems. This is happening not just in are already problems. This is happening notjust in thurrock but also in york, on buses, and wiltshire, they have a electric bike s. They are hoping to cover a large pa rt s. They are hoping to cover a large part of the road network, and be able to see whether or not this is possible. Quite a lot going on. The study is funded by the dst, a quick look now to see what is on the bbc website, on the bbc live page, a lot on davos, extended versions of all the interviews we have been conducting with Business Leaders, and also this, lloyds wish list. Much more on the bbc website. Top story today much anticipation here and in some quarters trepidation, us president takes the stage at the World Economic forum in davos, to deliver his America First message. We are all waiting for that. As are the markets. Pound, stirling, Holding Strong at 1 42. Lets discuss the day ahead in a bit more detail. 0ne lets discuss the day ahead in a bit more detail. One thing that has happened for sure, the us president and his team have dominated the airwaves in terms of the conversations taking place in the media about this years World Economic forum. Just to talk through the management of the message as it were, im joined byjerry bullman, global chief executive of the advertising and media group, dentsu aegis. Good to have you here. What is your take on brand trump and its dominance this week . Jerry buhlmann. Like any brand, what it needs to do using gate with its audience, he has created an environment where for the whole week, everyone has been talking about him coming, and on friday he has given himself the last word, that shows the way he thinks about things. There is some nuance to brand from as well, clearly, we know the America First edition in. Brand trump. He is now preaching engagement on a global stage. America first, but engaging with the world, that is a nuance on developing what is brand is and giving his brand some primacy in the context of davos. Is this a good thing or a bad thing for the World Economic forum, many are saying, actually, this is all about everybody being here and being given a chance, including the americans. Five out of the top seven leaders of the world have been here this week, thatis the world have been here this week, that is a level of Political Engagement we have not seen in davos for many years, british Prime Minister theresa may was here, we saw a manual mock rock and modi, a great deal of engagement between politicians and academics. It is a good sign. Another big discussion has been all about the big tech names, Sheryl Sandberg is here, chief operating officer of bass book and chief executive of microsoft, and chief executive of microsoft, and a lot of discussion about the impact these companies are having on all of us. Chief operating officer of facebook. Also concerns about being too monopolistic, george saw ross thought about that at his dinner, give us your take. Being saw ross thought about that at his dinner, give us yourtake. Being in media and advertising, are they in a dangerous place. George soros. The Digital Economy is by far the biggest opportunity over the next five to ten years, the broad scope of things, a lot of these businesses have a massive amount of utility among consumers, we see the growth of e commerce, the growth of smartphones, people accessing better, all of these businesses contribute significantly to that. We wa nt contribute significantly to that. We want a brand safe environment for advertisers, which means we need one for consumers and people, and government is recognising there is issues in that regard. We have to ensure that we can capture the opportunities of the Digital Economy, in the broad scope, businesses will be here, some will be gone over the next five, ten, 20 yea rs, be gone over the next five, ten, 20 yea rs , we be gone over the next five, ten, 20 years, we will still have a much more stable economy. Google and facebook, between them, they dominate the advertising space in terms of where people are putting their ads, do you see that getting more or less in the near term . think there is a lot of other players, amazon are growing rapidly, and competing, but alibaba group, in china, and we have seen this between google and 10c. There is more engagement, you will see more competition. Thank you very much for joining us. Interesting discussions going on, back to you. Tencent. All this week we have been asking about the issue of Sexual Harassment and unfair pay and how do you stamp it out . No more secrets, get it out on the table, lets come clean on the issues, move on, lets be inclusive for the future. The most important Thing Companies need to do is create a pure merit based environment so that the women get confidence that they will not be discriminated against just they will not be discriminated againstjust on the basis of gender. In china, most of us do not know what Sexual Harassment is, i think it is the company s obligation to educate their employees, Sexual Harassment is wrong. It is critical to transform anger into action. And action has to start at the top. Some people have been badly intended but the real problem is people have missed things, and we have two miss less and be better observers of these things and spied these inequalities and discriminatory practices. Companies need to remember that women tend to be more modest, so they need to be lifted up, to grow in the rights of companies. It is very Important Companies. It is very Important Companies create a culture where women feel welcome, safe and empowered. Give her the chance to study anything she wants. Business needs to recognise it is a real issue, talk about it and do something about it. Breadth of views there are, what is friday got in store for davos . Of course, the big event, we have talked about it, all about President Trump, but plenty of other events going on. The american delegation has been talking to the press yet again, and they are talking about keeping up to agreements and enforcing International Trade standards, talking trade already. Good morning, we have got some wet weather on the way for the weekend, but, for us at the moment, we have got a clear spell in the satellite imagery. Not much going on across the uk, this is the wet weather coming infor the uk, this is the wet weather coming in for the weekend, stays out towards the atlantic at least for today. For many of us, dry and good sunny spells developing into this afternoon. This morning, starting off with one or two showers, mostly clearing away by lunchtime, and some cloud at the southern and eastern areas, clearing away to give us spells of sunshine. Later in the day, seeing more in the way of cloud moving into Northern Ireland and across the north west of scotland, making sunshine hazy, staying dry by this stage in the afternoon, and across england and wales, plenty of dry weather around, with that sunshine, and actually, like wind through today. Temperatures getting up through today. Temperatures getting up to six, seven, perhaps even nine celsius. Should not feel too bad if you are out and about. Through the evening, we will see rain gradually moving into Northern Ireland, and into scotland, further south and east, largely dry, but with clear spells, one or two mist and fog patches forming by saturday morning, a little bit chilly, temperatures two to four celsius. Saturday, rain moving in, really for the weekend it is going to stay cloudy, that rain mostly is going to stay cloudy, that rain m ostly o n is going to stay cloudy, that rain mostly on saturday and for many of us, mild and breezy. You can see the weather system moving in, linked in with this area of low pressure, wind will pick up a little bit across northern areas, particularly late on saturday gales, severe gales, across the far north. As the rain moves gradually to the south and east, reaching east anglia and the south east, after lunchtime, behind that area of rain, dryer, if you showers. Tempted, eight, nine, ten, 12 degrees. For sunday, stays mild, rain across the far north of scotland, perhaps wales, wind easing down, some brighter skies in the far east, those temperatures up into double figures, going into next week, stays mild, some rain across southern england, and wales, with more unsettled as well as it turns chilly. That is it for me, goodbye. Hello its friday, its 9am, im victoria derbyshire, welcome to the programme. Us President Donald Trump says hes prepared to say sorry for retweeting posts from the far right Group Britain first. If youre telling me these are horrible people, horrible, racist people, i would certainly apologise if youd like me to do that. I know nothing about them. He was speaking to itvs piers morgan. Well bring you more of what he said shortly. Bradley larry was just six when he died of cancer but made a huge impression on those who met him and many of those who didnt. We will speak to his mother and star striker who became his best friend, jermain defoe. People, to him on the streets and shake his hand, its amazing the awareness and support from the nation. Like nothing youve ever seen before. This little
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