But thanks to clever marketing on the part of the retail giant alibaba in china it is now the countrys biggest shopping event. And its likely to be the worlds biggest retail event. Aliba ba created singles day 2009, and it has grown bigger every year. In fact, sales increased by 35 every year for the past five years. Just to give you an idea of how big a deal this is, last year, singles day generated 8 times more sales than the us led black friday event which traditionally marks the start of the Christmas Shopping season with over 38 billion dollars in sales injust one day. Joining us now from shanghi is robin brant. Lots of people have been buying and they have been doing so for the last 13 and a half hours. This event is huge and the figures, some of which you mentioned, are mind blowing. It is the biggest retail event and one figure i have seen today encapsulates it all. It says that at its peak today there will be 580,000 separate sales per second. Per second. And they are expecting and indeed a nalysts they are expecting and indeed analysts agree they will surpass the 38 billion us dollars they managed to accrue in terms of gross merchandise volume last year. The key thing is it as a barometer of consumer demand and important in the post coronavirus area. It is maturing. It has been going for over a decade and a nalysts going for over a decade and analysts expected things will happen today. More affluent shoppers who would have been ended by york buying whatever, they are not there this year because they cannot go. There is expected to be a reflection of that consumption here. In about 1000 miles that way western china they are starting to buy more and are becoming more important but they are paying less. The make up of what were seeing today is changing but the numbers are continuing to stagger. It is hugein continuing to stagger. It is huge in mainland china. Any signs this could be a phenomenal outside of china . Yes. In Southeast Asia i was talking to someone in thailand early and they say the phenomenal people stacking up goodsin phenomenal people stacking up goods in their baskets online in the days and weeks before today and then going online at one minute past midnight and hitting by, that happened in china and thailand and other parts of the world as well. This is dominated by the Chinese Consumer. It is a Chinese Consumer. It is a Chinese Consumer. It is a Chinese Consumer event and it is important for big names like adidas and nike key, dyson, in terms of sustaining their place in the domestic market and building their place as well. It is very competitive and things like Live Streaming are becoming increasingly important in terms of pushing their products and getting the kind of coverage and viewership they need online. Very good to hear from you. Very good to hear from you. Lets take a quick look at how the markets are faring today. We have the outcome of the election boosting trade globally and news that there is possibly a vaccine that could be available by the end of the year. All that still really boosting sentiment across the board but the tech stocks are down. What is happening is investors are buying into those companies that have been severely affected by lockdown and social distancing whereas companies are benefited, the Tech Companies they are being sold off somewhat so you can see down again. The price of gold is down by over 4 but alibaba, gold is down by over 4 but aliba ba, although this gold is down by over 4 but alibaba, although this is its big big day and it will make tens of billions of dollars in one single day in terms of sales, even their shares are down today. The travel bubble between singapore and hong kong will launch on the 22nd of november. Around 200 people daily will be allowed to travel between the two countries. Sharanjit leyl now joins us from singapore. Give us more detail. Yes, you are right. Some travellers are desperate to get out of the 700 Square Kilometres that is the city for a holiday. Previously you could but it involved two weeks of quarantine and self isolation when you got back and what is so exciting about this trouble trouble is that it is quarantine free and applies to Leisure Travel where previously you could only really travel easily if you are doing so for business or if you had a pressing reason to do so but bearin pressing reason to do so but bear in mind, passengers will have to undergo a covid 19 test and provide a negative result within 72 hours before departure. The ministerfor transport is hailing the agreement is really a first of its kind and said it could provide a blueprint for other travel bubbles but again, getting on those flights may be a bit ofa getting on those flights may be a bit of a struggle because initially, as you said, they will be limited to about 200 travellers. There will only be one flight each day, and one of those flights. And as well they are saying if the coronavirus situation does not deteriorate in either city flights are expected to increase to two per day into each city. No surprise that the ceo has been brought. It reported losses for the first half at the end we know that hong kong and singapore are seeking to repair the damage inflicted by the coronavirus pandemic on their hard hit tourism and aviation industries. They are not alone there. Thank you very much. Thank lets get some of the days other news uk Prime Minister borisjohnson has congratulated joe biden on his us election win. Biden called the Prime Minister ahead of leaders from other major european countries. Johnson said he looked forward to strengthening the partnership between the us and uk. The uk is expected to announce the largest overhaul of british takeover legislation for 20 years on wednesday, which will block takeovers and corporate deals that threaten National Security. According to various media reports, the National Security and investment bill will give ministers new powers to scrutinise and intervene in Malicious Foreign investment. Bytedance the Chinese Parent Company of tiktok has filed a petition with a Us Appeals Court to block a order requiring it to divest tiktok. The order is set to come into place on thursday, after the Trump Administration accused tiktok of being a National Security risk. Is the Tech Industry heading for its toughest year ever . In the us, president elect, joe biden has made it clear hes not a big fan of facebook, whilst here in europe, the eu has filed antitrust charges against amazon, accusing the Online Retail giant of using business data to gain an unfair advantage over retailers on its platform. The calls to regulate the growing power of tech giants appears to be getting louder. Joining me now is suzanne rab, whos a barrister at serle court chambers. Lets start with amazon. The European Commission, she has been pretty determined in the past and has taken on the role. Shes got amazon in her sights 110w. Shes got amazon in her sights now. Tell us what is going on. Yes, the commission is saying a statement of objections. Theyve opened a probe into the e Commerce Business here where there is a concern that these might savour their own Retail Operations to the detriment of other sellers. And if this was to go in the favour of the European Commission and not amazon what would it mean for amazon . We are at the start of a long probe for amazon can seek to defend its practices but ultimately this could result in fines of up to 10 of turnover but more fundamentally, orders to modify its Business Practices and change its behaviour. And this comes hot on the heels of so much scrutiny and conversation especially in the United States amongst legislators there but the size and scales of these companies. Amazon, apple, google, facebook. Seen as monopolies, really. What are your thoughts on what is ahead . Traditionally, competition law does not attack market power as such so being strong and powerful, it is only the abuse of market power that is unlawful but some of the proposals that have been put forward go right to the heart of market power and question whether there is a case to break up some of these large organisations to think that could be in the future . Well, it has certainly been proposed. Whether this is seen asa proposed. Whether this is seen as a last resort, which is really the suggestion of whether that is imminent is the big question. It certainly is. We might ask you it again in the future. Thanks for never being on the programme. Thank you. Apple late on tuesday launched its new macbook air notebook with the first apple designed processor. The m1 chip marks a break with apples15 year relationship with intel. 0ur north American Technology reporter cody godwin has more. When it comes to a chip, think of it is the brain of your computer and much like the brain, it is one of the most important parts. So what apple has announced today will not change the look of a mac but it will very much change what is inside. The most important part ofan inside. The most important part of an Apple Computer is not actually made by apple. Until now. But for the past 15 years it has been made by intel so being chip making in house could be potentially game changing. It will be in the macbook air, and the macbook many. Macbook air, and the macbook many. Apple says this chip will make the computers run faster and the batteries last longer. This may not be something you would notice if you are just a casual computer user but if you doa casual computer user but if you do a lot of things that involve graphic heavy programmes like Video Editing or video gaming you might notice a difference. But there are some potential drawbacks. This new chip is only offering about 16 gigs of ram which is less than half of what was previously available on these same computers with the intel chip. Another slightly awkward part of this shift from intel silicon to apple silicone is that it is not going to be available on all max just yet. Which means imax and the 16 inch pro will be running on the old chip was at the same chip that apple are saying is not quite as good as theirs. This could be a big moment for Apple Computers but it is worth remembering that apple is relatively small global computer market. They only had about 8 and combined others including dell. Many of these announcements will have to wait until after the holidays to see if consumers are holidays to see if consumers a re really interested holidays to see if consumers are really interested in these new products all that they will wait for the technology to play out just a wait for the technology to play outjust a little bit longer. Stay with us on bbc news, still to come the second uk lockdown has forced nightclubs to close, we take a look at what impact its having on the night time economy. This is bbc world news, the latest headlines. Joe biden has said president trumps refusal to concede the election is an embarrassment that will reflect poorly on his legacy. The United States has reported a new daily record total of hospital admittances for coronavirus, more than sixty thousand. Over the past week, weve seen stock markets rally off the back ofjoe bidens us election victory and the potential vaccine breakthrough from pfizer. Thats created optimism amongst the markets and some companies such as american airlines, cruise operator carnival and german flag carrier lufthansa are hoping to take advantage by raising much needed funds while the mood is positive. Joining me now is simon french, whos the chief economist at panmure gordon. These Companies Need the money, for sure. But what they get what they wa nt but what they get what they want on the markets right now . Good morning, sally. Say what you have seen is two things play out for companies in the last few days which is their share prices have gone up and therefore the amount of the company they would have to give away or existing show holders would have to give away to raise equity finance becomes less and the cost of equity goes down and that becomes more attractive. But also during the first wave at this pandemic backin first wave at this pandemic back in the early part of the Year Companies tended to take on debts rather than equity. So they have got two options, really. Debt or equity. Theyve taken on a lot of debt in wave one and therefore to keep the capital mix where they want it we are probably expecting more equity races this time around. When it comes to debt it is super cheap right now, isnt it . So in terms of that risk it is atan it . So in terms of that risk it is at an absolute minimum and will be for some time. You are absolutely right. The attractions with Central Banks buying Government Debt and pushing Interest Rates stands means that corporate debt, those Interest Rates tend to come down as well so the spread remains relatively constant and youre actually historically low levels Mean Companies can tap those markets but there are finance operators around the world saying we do have a lot of debt so even though it is cheap we need to make sure that capital mix is optimal. Just as a layman, people are looking in on this might think, hang on a second, who wants to buy anything when it comes to airlines right now who look like they could be on the brink of collapse. It is a fair question but it is one of the price and Airline Stocks and cruise stocks and travel and entertainment stocks have been very depressed at the essence the covid outbreak and therefore, to some extent were trying to price these companies in ten years worth of earnings rather than a single year and therefore we are more optimistic with better news on the backs in those earnings are going to recover towards the end. For those who are watching who are perhaps wondering what might happen next for the Financial Markets should be cautious about this optimism we are riding at the moment . think it is right to say that by any traditional metric valuations, the value ascribed to particular the Technology Companies but also a lot of Growth Companies is by watering the hive. What we are starting to see is investors saying we are worried about that and theyve just signed, the value sector, the lower valued companies are starting to come back into vogue but it has been a tough one for them and that is certainly where investors are voting with their wallets at the moment. Thank you and have a good day. Now, what do you do when youve lost your well paid job as a result of coronavirus and you also have 3 year old twins . Well, the answer for one man was to start his own chocolate business from home. Its another example of people starting their own businesses during the pandemic. This is the ideal time. It is very scary being in full time employment and then taking the leap. If you are already being forced into furlough and redundancy etc then why not . Wrap the moment and go with it. Im nota im not a chocolate lover but it boils down to the fact that i bought a second hand tempering machine for my wife to make some chocolate curls for the top of a case that she makes for home baking business and itjust makes for home baking business and it just seemed makes for home baking business and itjust seemed fairly expensive as a machine that was used very infrequently so i looked at other uses for it. It went down really well doing the indulgent filled ones with flavoured ganache. It was promoting it within facebook, to friends and family, local residents, and it has built from there. We are lucky enough to have a room in the house that is a play room for them. Being twins they each other entertained a fight on the odd occasion. I dont need to be at the machine 20 47, i dont need to be at the machine 20 a7, i can take breaks to read books and play games etc. I get several requests from my wife per week for chocolate slabs so i cant say that i never dip slabs so i cant say that i neverdip in and slabs so i cant say that i never dip in and have some chocolate. We have got more chocolates in the house than i could ever imagine. It is never too early for chocolate in my opinion. These have guests like keith right here with us in the studio and we would hope they would bring in a few slabs. Well, we miss those days. They will return soon, lets hope. While we are on the subject lets talk about the night time economy. The night time economy was the fifth biggest industry in the uk in 2019, accounting for 8 of employment and producing revenues of 66 billion pounds. But since the pandemic hit nightclubs have turned off the music, shut down the lights and closed their doors. Some late night venues have benefitted from the governments £1. 6 billion culture recovery package but what about the celebrity djs who pulled in the crowds . Joining me now isjudgejules, whos a dj, broadcaster, producer music lawyer. Great to have you on the programme. You normally up at this hour or is this the end of an overnight you . Iaman an overnight you . I am an unusual an overnight you . I am an unusual case an overnight you . I am an unusual case and that i spend my week on my music Legal Practice and do get up at un dj like ours but then flipped my body clock at the weekend or i would be under normal circumstances. What is the new normal for you at the moment and for those who do the similarjob to yours . I hate the expression new normal. For me there is only one normal but we will park that for now, shall we . In the case of djs, you talked about celebrity djs with big earnings, i dont think that is where anybodys somebody should live. We are talking about an industry that is usually important to the british economy and therefore focus should be paid to thejobbing djs that make up the majority of the Dj Fraternity and of course the people who work in the infrastructure of the night time industry. The problem has been, as you alluded, that the industry as a whole has been sort ofjust left a bone, really. Yes, of course, there was a blue 1. A billion cultural recovery grant of which a certain proportion was provided to night time venues. There are high profile beneficiaries such as the ministry of sound, for example. But a huge meda venues just we re but a huge meda venues just were not successful in their beds. All felt that they were out of sufficient profile to even bother applying. The road map that was provided by Boris Johnson earlier in the year for the reopening of things, which happened towards the end of spring did not even include night clubs are night life the authorities has been, you know, you shall barren. We had publicised but retracted comments about people should be retraining. Thatjust sounds absolutely crazy. I heard their suggestions as well and i had a similar thought. Were almost out of time. Explain so many in the industry were discussing as well which means they are not subject to a lot of the the financial help that others are getting. Is that true . Correct. And they pay themselves by dividends which means they will get absolutely nothing and that as many djs. All that. Im really sorry we are at a time but i just want to mention really sorry we are at a time but ijust want to mention one of my producer tonight did say that you are the one and only legend on radio in terms of djs. So he was so excited you are on the programme this morning. Thank you very much indeed for being up so early and thank you for your company here on bbc one. If youre watching in the uk breakfast sta rts watching in the uk breakfast starts in just watching in the uk breakfast starts injust a watching in the uk breakfast starts in just a few minutes. Hello. The mist and fog some of youve seen over the past few days, not as much of an issue over the next 2a hours or so. Reason on wednesday behind that is that itll be a little bit too windy at times, and that wind could bring in thicker cloud with rain in the north and west. These are the weather fronts responsible, theyll only slowly push their way through, so many eastern areas will be dry through the bulk of the day. But it is here across east anglia southeast that we start off with the coolest conditions and 1 2 mist and fog patches. Theyll be fairly short lived though, and will lift up and clear. As we said, much of wales, good part of england will stay dry. There could be some patchy drizzle in the west, but across ireland and into western scotland, rain will come and go all day. And you can just see this narrow band of bright colours an indication there will be some pretty intense rain particularly during the afternoon. Overall a fairly mild day, tempered somewhat by the breeze, and that wind will be strongest particularly towards the west. These are the areas that will see winds over a0 mph, it may be touching 50 mph at times. Most gusty though on that bright band you can see there, the heavy rain pushing its way through eastwards across scotland, particularly across england and wales as we go through wednesday night and into thursday morning, allowing clearing skies behind, thankfully temperatures not dropping too much. As we go into thursday morning, coolest conditions, unlike on wednesday morning, will be in the west. Wet weather to begin with on the far east of scotland and across east anglia. Quite windy here, but that wind will clear away with the rain. That little brief ridge of high pressure, a window of fine weather before more cloud and rain arrives. So for many of you, a dry day with some sunshine, as well. Best of the sunshine and Western Areas through the morning make the most of it, clouding over into the afternoon. Patchy rain or drizzle possible by the end of the day, heaviest of the rain and western scotland into the western northern ireland. A little bit cooler than recent days. As we go through thursday night and into friday, that rain will spread its way eastwards. Itll push through mainly during the night for many of you, lingering across some eastern areas first thing. Sunshine comes out, a few showers in the west, but by and large, the daytime at least will be a dry day for many. Again, a little bit cool in the breeze compared to how we start the week. But as we go into the weekend, low pressure close by with sets of weather fronts pushing through. Well have to watch just how deep this area of low pressure gets into the northwest on sunday. Could be particularly wild and windy here. So while there still will be some rain at times this weekend, better chances of sunshine between the downpours on sunday. Good morning, welcome to breakfast with dan walker and louise minchin. 0ur headlines today. Mass testing and an evacuation style operation to get students in england home for christmas. As gps get ready to administer the new vaccine, well speak to a volunteer whos had the jab. The chairman of the fa greg clarke resigns, after using an offensive term to describe black players. What next for english football as the man at the top leaves at a crucial time . 0ne premier league star says appointing a black fa chair next would be a huge step forward. Dont turn your back on us