Most american president s have chosen to reappoint the existing head of the Federal Reserve, nominated by their predecessor, but donald trump has broken a ao year tradition by replacing the former chair, janet yellen. Yogita limaye reports from new york. President trumps pick for the job, Jerome Powell, is the new chair of the us Federal Reserve. But why is is such an importantjob, and why should it matter to you and i . Well, the Federal Reserve makes decisions, about Interest Rates, keeps inflation in check, and can step in and protect the economy, like it did in the Global Financial crisis. But also, whatJerome Powell does can have far reaching effects beyond american shores. We are raising Interest Rates now because the economy is strong. And if we wait too long, the economy could overheat. Wed have to raise rates. The best way to sustained recovery, i believe, is to head on this path of gradual rate increases. Raising rates here in the us could mean that investors could prefer to put their money here, taking it away from other parts of the world. America is considered a safer investment destination than, say, an emerging economy. After the 2008 Global Financial crisis, which generated chaos here on on wall street, the Federal Reserve introduced strict rules for banks to ensure the safety of the market. There has been talk of easing that regulation, now. And some people working here in manhattans financial district would be keen to hear what Jerome Powell has to say about it. Its not helpful for banks to waste money, to spend more than they reasonably need to spend to achieve these results and objectives. Those costs will fall on customers. On most fronts, he is on the same track as janet yellen. She lives with the economy in pretty good shape. It is growing steadily, and employment and Consumer Confidence are the best they have been in about 17 years. But mr powell will have to navigate through uncertainties caused by the tax bill, and americas latest announcements, to ensure that the index stays in the green, and people here remain happy. Another extremely busy week for corporate earnings. In under an hour we will have the worlds Biggest Airline reporting its latest set of financial results. The company is expected to post sales of 1. 7 billion in the last three months of 2017. That is a 5 increase on this time last year. European airlines are still grappling with overcapacity in the market. But the bankruptcies of monarch, air berlin and alitalia have already helped ryanair to post a 6 rise in passengers numbers injanuary. At present, carriers are free to fly between European Union member states, but airlines have called for greater clarity on what will happen when the uk leaves the eu next march. Ryanair has already added a brexit clause to some of its tickets. This will provide customers with a refund if flights are cancelled due to a change in regulations. Ryanair has recently taken the decision to recognise the british pilots union, after the trade body threatened a walkout during the christmas period. With me is peter morris, chief economist at flight global. Good to see you. So what are you expecting ryanair to tell us today . Is it more good news, thing is getting steadily better for them . Is it more good news, thing is getting steadily better for them . expect it will be insofar as the events you have mentioned. At the same time, they have carried on growing through that period and they are the most pocketable airline within europe, and they are also the lowest cost. You put those two elements together, they are and am beatable combination, and therefore one would expect more of the same. And it does seem to go from strength to strength, ryanair. Despite all the various challenges it has been grappling with, one of which was the situation with the pilots rotas, which meant they had to cancel so many flights. At that point it was suggested it could take a dent out of ryanair, but it didnt seem too. The growth which took pace in the first two quarters of 2017 slowed a bit towards the end of the year, but has now started to pick up as we go into 2018. So i think they have got the capability to flex their Business Model, because of all the different destinations. They are serving 32 countries across europe, and then you can add in north africa, and so on, as well stop so they have flexibility to be able to go where the market is. That is the key to having a successful airline. What is the outlook like for ryanair . We what is the outlook like for rya nair . We have what is the outlook like for ryanair . We have mentioned the outlook with regards to brexit, that isa outlook with regards to brexit, that is a big uncertainty for ryanair, and its competition, like easyjet. It is, but the key phrase is the leveraging. It has become less and less dependent on the uk deleveraging. The biggest market is italy, and spain is the biggest market after the uk. So the u. K. s only about 20 or so. As a proportion of its operations, what happens in the uk will affect ryanair rather less, happens in the uk will affect rya nair rather less, and happens in the uk will affect ryanair rather less, and i believe it will be able to flex its Business Model accordingly. At in terms of its cost and its bottom line, to what extent is the situation with the pilot impacting ryanair, and the fa ct the pilot impacting ryanair, and the fact it has had to recognise unions for the first time, something that michael 0leary said it would never do. Well, there have been a lot of never, never things. Do. Well, there have been a lot of never, neverthings. Like we do. Well, there have been a lot of never, never things. Like we will never, never things. Like we will never hedge against fuel, and then there was a hedging against fuel. And we will never seek to attract the corporate market, and at some point that becomes interesting. This is not a contradiction, just an evolving Business Model, i think. Thank you very much indeed. When we get the results from ryanair, we will update you. Now to silicon valley, for a court case between two huge names in the tech business, in a legal battle that could have big implications for the future self driving car industry. 0ur north American Technology reporter dave lee outlines what the case is all about. Waymo is the self driving car company spun out of google. They are suing uber, claiming that Company Stole their trade secrets and used to build a self driving car. Uber denies that. It all centres on a man who used to work for google, but then left, taking with him, it is alleged, 1a,000 confidential documents relating to the design of lidar, the technology that allows self driving cars to see where they are going. He then set up his own company which was acquired by uber. Waymo says this was a front for simply stealing googles technology. But ubers defences this. So what if the documents were stolen . That doesnt mean they were used, and thatis doesnt mean they were used, and that is what waymo has to prove. We think waymo will call to the stand the controversial former chief executive, and because this is a mostly public trial, we might learn a few secrets about both companies. The trial was meant to start in december, but there was a dramatic last hour twist. A letter emerged from a former uber employee suggesting many of the things waymo alleged were in fact true. Because of this, the judge alleged were in fact true. Because of this, thejudge postponed the trial until now. Now lets brief you some other business stories the uks Civil Aviation authority is set to launch a review into Airlines Seating policies. The investigation will examine whether companies are deliberately splitting up groups of passengers so they pay to sit together. The caa said it wanted to make sure seat allocation practices were fair and transparent. Lets have a look at financial markets. Hopefully the cameras will play ball as well. We have quite a tricky week this week, because, as we have mentioned, lots of earnings to keep an eye out for. We have mentioned ryanair and many other companies reporting, but on friday we saw heavy losses, the dow down 2. 596, we saw heavy losses, the dow down 2. 5 , and that is really playing out in asia at the moment. Hong kong and australia behind me, and japan down well over 500 points, over a 2 fall forjapan. Some would say it is just a correction, that january forjapan. Some would say it is just a correction, thatjanuary was forjapan. Some would say it is just a correction, that january was the best month for these markets on record, with the us going from record, with the us going from record high to record high, so corrections from profit taking as well, but also some nervousness. Keep an eye on the pound sterling this week, a big week for the uk government with regards to exit. Downing street suggesting britain will leave the Customs Union after brexit. With regards to brexit. We will review what the global media are grappling with in a moment. A panel of independent experts set up to work out a Long Term Plan for health and social care in england has called for a new, ring fenced tax to help fund the nhs. The panel, established by the liberal democrats and including the former head of nhs england, sir david nicholson, has also recommended a return of caps on personal payments for adult social care. 0ur Health Editor hugh pym reports. Thousands of demonstrators marched through london at the weekend, calling for increased funding for the nhs. Health unionsjoined other campaigners, arguing there was a winter crisis which needed urgent action and investment. Today, a report from Health Experts including the former head of nhs england has called for new answers to nhs funding problems. The report commissioned by the liberal democrats calls for an extra £4 billion on top of inflation for the nhs in england in the next financial year, more than double the increase announced in the budget. A single, ring fenced tax for health and social care replacing national insurance, and reinstating a commitment to cap the costs paid by individuals for social care. The report argues that higher funding needed for health and care should come through increased taxation, and that this will be more transparent if there is a dedicated tax for this purpose. Longer waiting list than rationing for some treatments, it says, are undermining the key principles of the nhs. In response, the department of health and social ca re the department of health and social care said the nhs had been prioritised in the budget, and an extra £2 billion had already been provided for social care in england. Coming up at 6 00am on breakfast the team will have the latest on downing streets insistence that britain will leave the Customs Union after brexit. All that and more in 15 minutes on brea kfast. This is the briefing from bbc news. The latest headlines there are reports that south africas president , jacob zuma, is resisting calls to stand down. Protestors in greece call on the government not to allow its northern neighbour to call itself macedonia. And, in a tense final, the Philadelphia Eagles beat the new England Patriots to claim the 52nd super bowl. In the last few minutes of the game, the eagles, who have never won the competition, pulled ahead by 41 33. Let show you how bbc online are tackling this story. The uk will leave the Customs Union, number 10 insists. This is the latest on the turmoil within the conservative party and the mood music coming from number 10 as to how the uk will progress with its exit discussions with michel barnier. That meeting ta kes pla ce with michel barnier. That meeting takes place this week, it is a critical week and we will keep you will cross the latest on that. Across. Now it is time look at the stories that are making the headlines in media across the world. We begin with the arab news which says france and turkey plan to create a diplomatic road map for an end to the war in syria. Thats according to the office of french president Emmanuel Macron the ft shows greek demonstrators on its cover as hundreds of thousands took to the streets in a dispute over the naming of macedonia. Many greeks object to the country calling itself macedonia, saying it implies a territorial claim on greeces northern macedonia region. The telegraph carries a warning from lloyds bank who have become the first to ban Customers Using credit cards to buy bitcoin, amid fears they could run up huge losses. The irish times leads with brexit and how a row within the conservative party over future customs arrangements comes as european negotiators are looking at how to stop britain undercutting the eu in tax matters and regulation after the uk leaves the European Union. And finally the philly voice website is in celebration mode following the news the Philadelphia Eagles have managed to win the super bowl title in a 41 33 shootout