Joe biden will today be inaugurated as the president of the United States. Hes expected to start making waves the minute he takes office. Top of his agenda will be passing the 1. 9 trillion stimulus plan to help the country recover from the Economic Impact of the coronavirus pandemic. The theme for the inauguration will be � America United and it will mark the start of a 10 day marathon of executive action on what he calls the � four crises� the country is facing covid 19, the economic downturn, Racial Injustice and climate change. So what are his main plans for the economy . Heres Michelle Fleury from new york. Four years of the outgoing president have been good for wall street, and so, apparently, is his departure. The s p 500 has surged nearly 10 since election day and joe biden� s victory. But wall Street Investors should not be confused with everyone else. The economic landscape is grim. 10 millionjobs remain lost because of the pandemic. Consumers and businesses are struggling to stay afloat. Joe biden� s trusted lieutenant on the economy janet yellin urged lawmakers to go big on stimulus, not to worry about deficits, with Interest Rates so low. 1 deficits, with Interest Rates so low. ~ , deficits, with Interest Rates so low. ~ ,. , so low. I think there is a consensus so low. I think there is a consensus now, so low. I think there is a consensus now, withouti so low. I think there is a consensus now, without further action, we risk longer, more painful recession now, and longer term scarring of the economy later. It longer term scarring of the economy later. Economy later. It is the lessons economy later. It is the lessons of economy later. It is the lessons of the economy later. It is the lessons of the 2008. Economy later. It is the lessons of the 2008 financial crisis and its plodding recovery that guides joe crisis and its plodding recovery that guidesjoe biden today. Last week he outlined a 1. 9 trillion rescue package, a far bigger, more targeted plan than the one that passed when he was vice president. fix, than the one that passed when he was vice president. He was vice president. A crisis of dee he was vice president. A crisis of deep human he was vice president. A crisis of deep human suffering he was vice president. A crisis of deep human suffering is he was vice president. A crisis of deep human suffering is in l of deep human suffering is in plain sight. There is no time to waste. We have to act and we have to act now. Have to act now. Suffering seen across the have to act now. Suffering seen across the country. Have to act now. Suffering seen across the country. Millions across the country. Millions and danger of losing their homes. In dallas, texas, cars lined up to help people who had fallen behind on their payments by covering up to two months of rent. � , ,. , by covering up to two months of rent. � , ,. ,. , rent. Its been very hard for me. Rent. Its been very hard for me this rent. Its been very hard for me. This woman rent. Its been very hard for me. This woman was rent. Its been very hard for me. This woman was one i rent. Its been very hard fori me. This woman was one of rent. Its been very hard for me. This woman was one of the first to arrive. Me. This woman was one of the first to arrive. Thank me. This woman was one of the first to arrive. Thank god me. This woman was one of the first to arrive. Thank god that i first to arrive. Thank god that i made it first to arrive. Thank god that i made it through first to arrive. Thank god that i made it through nim first to arrive. Thank god that i made it through nim just. I made it through nim just believing today that i am going to get my rent paid. 1truiith believing today that i am going to get my rent paid. Believing today that i am going to get my rent paid. With a new roof over to get my rent paid. With a new roof over his to get my rent paid. With a new roof over his head, to get my rent paid. With a new roof over his head, joe to get my rent paid. With a new roof over his head, joe biden i roof over his head, joe biden plant uses first aid and office to help those worried about there is. And his allies are confident that if mr died in� s plan works, the economy will bounce back and the country will be less divided. Here is a top economist from the 0bama administration. Administration. First of all, the vaccine administration. First of all, the vaccine will administration. First of all, the vaccine will solve administration. First of all, the vaccine will solve a administration. First of all, the vaccine will solve a big| the vaccine will solve a big part of this problem, i hope and expect. And second, people this time around actually have healthier accounts than they had a year ago because so much money was pumped into the economy. Money was pumped into the economy money was pumped into the economy. Since the very first president economy. Since the very first president was economy. Since the very first president was sworn economy. Since the very first president was sworn into economy. Since the very first l president was sworn into office here on wall street it has been the president sjob here on wall street it has been the president s job two point way forward for america stopping the latest holder of the officers hoping that with economic plan, main street will join the economy and even wall street may be pleased to move away from the trump error. Lots to get done. Were nowjoined from washington dc by emily tamkin, whos the us politics editor for the new statesman. Where do you think President Biden, once he takes office, will find the easiest breakthrough . Because he has got to get some republicans support, as well as placating those to the further left of his party . Those to the further left of hisa , ~ his party . Absolutely. I think if ou his party . Absolutely. I think if you look his party . Absolutely. I think if you look at his party . Absolutely. I think if you look at the his party . Absolutely. I think if you look at the economic i if you look at the economic plan that he has put forth, the thing that already, that we already know has support is this additional 1400, just go to directly to americans. If he faces any criticism there it will be from the left that said wait a minute you promised 2000 checks not the 1400 on top of the 600 that ready passed late last year. I think that there is democratic support for that policy. When you look at other parts of the plan like money for state and locals to bridge the budget shortfall for state and local governments, that is something that republicans have shown resistance to. When you look at raising the minimum wage to 15 per hour, that is something thatis per hour, that is something that is going to face resistance. So it is an ambitious plan, the biden teams line is we are going to run up the deficit and that is how were going to save our economy. Im sure that not every democrat and certainly not every republican is going to along with that plan. Mail to along with that plan. Wall street has to along with that plan. Wall street has enjoyed to along with that plan. Wall street has enjoyed quite to along with that plan. Wall street has enjoyed quite the run under the trump residency, markets touching record high after record high. Do you think we will see that sort of thing continue under the new administration . I continue under the new administration . Continue under the new administration . ~. , administration . I think that we miuht, administration . I think that we might. We administration . I think that we might. We very administration . I think that we might, we very well administration . I think that we might, we very well might, administration . I think that we j might, we very well might, but i think the more pressing concern for the administration right now is that in the first week of 2021, there were 1. 1 5 million new unemployment claims made and i think that what we are seeing here in the United States as there is a disconnect between what wall street and the Stock Exchange enjoys and what people are feeling in their homes during the pandemic. It has been a good yearfor wall pandemic. It has been a good year for wall street but it has not been a good year for anybody else in america or hardly anybody else in the United States. It hardly anybody else in the United States. United states. It is that internal United States. It is that internal dividers United States. It is that internal dividers in internal dividers in it, between wall street and main street. When we look at the tackling problem, when youve got a pandemic as well that, although the vaccine offers some hope of bringing that to an end, how quickly do you thinkjoe biden can get the wheels of commerce turning again . I turning again . I think, you know its interesting stopping at the top of this you mention the different challenges that biden faces on one of them is the pandemic on the other is the pandemic on the other is the economy. These are the same crises because as we have continually seen, despite the fact that people have tried to treat this like an either or and, oh, we can shut down businesses or we can you know, do what we can for the pandemic or do what we can for the economy. When you do not address the former, the letter just gets worse, so i think how quickly he is able to get the wheels of congress turning is directly dependent on whether they can get vaccines out more quickly, whether they can make it such that people can safely go back to work because infections are down to a low enough rate, whether he can get more people to wear masks so people can safely leave their homes, yet it is about pumping money into the economy but it is also about getting that infection rate down again vaccination rates up. 0k, len vaccination rates up. 0k, plenty to vaccination rates up. 0k, plenty to look vaccination rates up. 0k, plenty to look out vaccination rates up. 0k, plenty to look out for. I vaccination rates up. 0k, plenty to look out for. Emily, thank you so much for that. Lets see how the asian markets are faring today. Asian shares have climbed to a record high during wednesdays trading session, as us treasury secretary nominee janet yellen said a hefty financial package was required to help the Worlds Largest on wall street. They ended tuesday in positive territory, also boosted by those comments made by yellen. Asian governments will get a chance to hit the reset button on their relationship with the us, as a new administration is set to move into the white house in less than 24 hours. Than 12 hours. China, in particular, has been embroiled in a trade war which dragged on for more than two years, a grand scale stand off which rattled Global Markets and economies. So, under the biden presidency, whats in store for us china ties . 0ur Asia Business correspondent Karishma Vaswani has more. If there was one image that defined the relationship between china and the us under president trump, it was trade. A multi year trade spat, hundreds of billions of dollars worth of tit for tat tariffs and bitter negotiations. Thats the legacy the Biden Administration is inheriting. So how will that change . Most economists and global think tanks i have spoken to say that china can expect a more predictable, less volatile trade policy under biden, and that means trade tensions could ease. Can see american import tariffs on chinese goods relaxed or removed entirely, which would mean lower prices for American Consumers or things made in china stopping the us would expect china to remove import tariffs too, which would mean American Companies will get more access to chinese consumers. But President Biden is unlikely to rollback restrictions on chinese tech firms like huawei. China is now seen as a direct competitor to the us in key technologies that will shape the economy of the future. So dont expect any compromises on chinese tech unless we get some concessions on intellectual property theft, transparency and Firm Commitments from Chinese Companies that they are not collect data for the Chinese Communist party. Beijing knows its relationship with the us has changed, which is why china is focusing on its domestic economy. That is a policy known as dual circulation. China came out of the pandemic better than most countries. It is on course to be the only major economy to have grown last year. The china that biden will deal with is bigger, bolder, and stronger than ever before. One of these whether these two giants compete or collaborate will define what kind of world the rest of us live in. The uk and us have failed to do a much hoped for mini deal over trade in the last days of the trump administration. There were hopes the us would lift tariffs on imports of Scotch Whisky and cashmere imposed last year as part of the boeing airbus trade dispute. But those duties will now stay in place while president elect biden awaits confirmation of his trade team. Joining me now is Fiona Cincotta from city index. How much of a disappointment is it that there was no even small trade deal agreed before trump left . ,. , left . This is a huge disappointment. I left . This is a huge disappointment. Firstly left . This is a huge disappointment. Firstly because there is independent businesses who have really taken a big hit from this, from these tariffs that have been on products and been there for around 15 months now so it is actually caused a very big hat. They are looking at losses in the region of around 450 million and losses of exports, so this is a really big problem and it is one that hasnt been resolved and there was a lot of optimism that they might have just been able to get that over the line but it didnt happen. Get that over the line but it didnt happen. What do you think they didnt happen. What do you think they will didnt happen. What do you think they will need didnt happen. What do you think they will need to didnt happen. What do you think they will need to do i didnt happen. What do you think they will need to do ifj think they will need to do if they want to secure a trade deal between the uk in the us under the new president . There is auoin under the new president . There is going to under the new president . There is going to be under the new president . There is going to be a under the new president . There is going to be a lot under the new president . There is going to be a lot more under the new president . There is going to be a lot more work. | is going to be a lot more work. They are saying that the big focus here, to get a really quick deal done, would be to have cleared areas of environmental change and environmental change and environmental protection, that will be one way to get a deal done quickly because we know thatis done quickly because we know that is an area that is very important tojoe biden, so that would be one way to do about the other thing to bear in mind, there is going be this period now where you have got the new administration coming in, where there is going to be a pause in actual any progress towards the trade deal while the administration gets set up, so this isnt going to be now a very quick moving thing, although it could happen. find although it could happen. And what is the main thing the uk wants from a trade deal . Im mentioned scotch whiskey and cashmere, but those are very specific examples. What you think the overarching goal would be the uk . This think the overarching goal would be the uk . Think the overarching goal would be the uk . As a broad deal with would be the uk . As a broad deal with the would be the uk . As a broad deal with the us would be the uk . As a broad deal with the us would would be the uk . As a broad deal with the us would be i deal with the us would be exactly what the uk is after, so exactly what you mentioned there would be some very specific areas, the cashmere and whiskey which relate to a trade dispute between boeing and airbus, but talking about a much broaderfree trade and airbus, but talking about a much broader free trade deal between the us in the uk would between the us in the uk would be something that actually would help the uk economy particularly after we are supporting ourselves from the european union. Shill supporting ourselves from the european union. European union. All rights, thank you european union. All rights, thank you very european union. All rights, thank you very much. Stay with us on bbc news, still to come netflix finds the perfect cure for the pandemic, as its membership soars again. Some of the uks biggest music stars have written to the government demanding action to ensure visa free touring in the european union. Sir eltonjohn, Liam Gallagher and Nicola Benedetti are among over a hundred artists who have signed the open letter which says they had been shamefully failed by the government over post brexit travel rules for uk musicians. The government is setting up a new regulator with powers to ban the use of dangerous Building Materials following evidence at the Grenfell Tower inquiry that manufacturers covered up safety issues. The regulator will be able to prosecute companies who flout the rules. Ministers have also ordered a review of product testing. They say revelations at the Grenfell Inquiry have been deeply disturbing. Scientists have gained a new insight into one of the mysteries of the natural world, how butterflies fly despite being equipped with large, inefficient wings. Theyve discovered that butterflies cup their wings when taking off. This forms an air pocket that pushes the insect forward at speed, helping it to escape predators. Researchers believe the knowledge could prove useful in other spheres, such as making some drones and underwater vehicles more efficient. This is bbc world news, the latest headlines joe biden and Kamala Harris lead a ceremony to honour the 400,000 americans whove died during the pandemic. President trump releases a farewell video on his last day in office before issuing his president ial pardons, including one for key former aide steve bannon. Netflix got a big boost from the pandemic last year, as demand for streaming movies and television soared. The company now has more than 200 million paid members, up more than 30 from 2019. About 37 Million People subscribed last year, including 8. 5 million in the last three months alone. Joining me now is liz duff, whos the head of media and investment at behavioural Planning Agency total media. This is interesting because yes, people have been spending a lot of time at home, there have been locked and so on, but the streaming market has become so much more competitive, so many new entrants. Is netflix doing particularly well against those rivals or is it benefiting as others have done . Those results really are a demonstration of net mix benefiting from the stay at home world we find ourselves in in the q4 results in particular saw how christmas really made the market saw. But the reality of it is the streaming market has been impacted by peoples behaviours and there was a statistic from last year at the height of the pandemic, the average uk person spending 40 of their waking hours watching tv content c could see how net links would have benefited. There is a huge amount of competition then when netflix launched. They going to have to fight against the competition moving into next year. Competition moving into next ear. ,. ,. , year. Something common to all streaming year. Something common to all streaming services year. Something common to all streaming services is year. Something common to all streaming services is the streaming services is the difficulty of getting new productions filmed when you got to keep cast and crew safe, social distancing, if someone tests positive, production pauses and they can limit the amount of content they can provide to subscribers. Will that be a problem . People wont be signing up and paying if they dont get new content . Netflix and a strong position in of content. Its Something Like over four years you have to spend watching netflix non stop before you finish watching netflix i think they are not going to run out of contact and what they have benefited from is the fact they film a lot of the contact in advance because of their structure releasing a whole series at once and the amount and quality of content they haveis and quality of content they have is really what drives their low subscriber churn. They have the lowest churn in the market because of the fact that the content is so strong. Do you think these subscribers will stay . This is the question every streaming service will be starting to ask. In the world gets back to normal and people spend less time at home . This is the worry spend less time at home . This is the worry for spend less time at home . This is the worry for the spend less time at home . Try 3 is the worry for the whole market. In the past 12 months weve seen a lot of swapping between services and where people used to be much more loyal to one service, we are seeing the move over because of one type of hero content or because of a free subscription offer and as soon as that is finished, they switch onto the next thing. That is definitely a worry and once the world starts opening up, people are going to want to have that Human Interaction rather than staying at home so much. What we are definitely seeing as i mentioned, people are ship in from the traditional viewing habits are much more streaming content, and i dont think that is going to change once people are going to go out more but i think its the switching between services that netflix is really gonna watch out for. Given how crowded the market is, i think, given how crowded the market is, ithink, do i need given how crowded the market is, i think, do i need all the ones ive subscribe to. Will we see consolidation mergers, some not surviving beyond a couple of years . I not surviving beyond a couple of ears . , not surviving beyond a couple of years . Of years . I definitely think the market of years . I definitely think the market will of years . I definitely think the market will get of years . I definitely think i the market will get smaller. You got the big giants such as netflix but you also look at the success of disney plus, the might of amazon. I dont think those sort of businesses are going to go away. Its the smaller ones that are reliant on either one hero type programme or cheap offers to get their subscribers in, they are not going to survive in the long term. Are not going to survive in the longterm longterm. Lives, before you ro, longterm. Lives, before you go. Your longterm. Lives, before you go, your recommendation . I| longterm. Lives, before you i go, your recommendation . I am watchin go, your recommendation . I am watching a go, your recommendation . I am watching a time go, your recommendation . I am watching a time travel go, your recommendation . I n watching a time travel drama called dark which is very confusing and you can only watch one at a time otherwise your brain explodes. Watch one at a time otherwise your brain explodes. Thanks for that, i will your brain explodes. Thanks for that, i will give your brain explodes. Thanks for that, i will give it your brain explodes. Thanks for that, i will give it a your brain explodes. Thanks for that, i will give it a try, your brain explodes. Thanks for that, i will give it a try, my that, i will give it a try, my producer says it is good as well. Lets get some of the days other news and the head of vauxhall� s Parent Company has warned that it will no longer invest in pure diesel or petrol cars at its Ellesmere Port plant. Carlos tavares said the future of the cheshire plant depended on where his company, stellantis, decided to make new generation of electric vehicles. He said a decision would depend on the uk governments support of the car sector. The uk government has unveiled details of a £23m fund to support fishing firms as it tries to calm industry anger over Brexit Border delays. The money will help firms whose exports to the eu have fallen sharply since rules changed on 1january. Fishing firms say extra paperwork has made it difficult to deliver Fresh Produce to the eu before it goes off, hammering their businesses. The us car safety regulator has told ford to recall 3 million vehicles with potentially defective takata air bags. It covers various models from 2006 through 2012. The defect, which leads in rare instances to air bag inflators rupturing and sending potentially deadly metal fragments flying, has already prompted the worldwide recall of around 100 million inflators, installed by 19 major carmakers. Many businesses have been forced to close for the third lockdown in england and wales and riding schools were no different. The pandemic is having Significant Impact on the equestrian sector with riding schools having no source of income , and horses to feed and look after. Staff cant be furloughed because the horses need to be cared for daily. With 30,000 horses in the uk stabled at riding schools, its no surprise that more than 10 of riding schools have closed in the past year and more are on the brink of closure. Joining me now is jane williams, whos the chair of the association of british riding schools. Why is this third lockdown different to the other two in england for riding schools are you getting Less Government proving more difficult . Its especially difficult because it is winter. The first lockdown came as spring burst onto the scene and you can leave horses in the field and they can rest. In winter, when the weather is bad and wet, they have to be looked after and have to be stable so its far more time intensive. Like all of us, they eat more in the winter to keep fit because of the cold. Its the most expensive time of the yearfor the most expensive time of the year for stables. The most expensive time of the yearfor stables. And year for stables. And equestrian owners. Yearfor stables. And equestrian owners. In terms of the support, the government in the support, the government in the uk has given businesses support. Does that not extend to riding schools . The first lockdown, we were very lucky, we got grants of £10,000 £25,000 and we got the full year � s relief and it made a real difference. In this lockdown, the rate relief is running at about on average £4000, which is really enough to keep stables open and support the horses for a month. It costs about an average of £1300 a week to keep a team of horses at give and in addition, it is about £70 a week. At the moment, the Government Funds will help for a month but really of lockdown continues for another three months, its going to be a real problem and of course, weve had periods in the last 12 months when stables have been able to trade so income is down anyway so with our members are feeling that their livelihood is threatened, unless we can get more help from government. Just briefly, we not from government. Just briefly, we got about from government. Just briefly, we got about half from government. Just briefly, we got about half a from government. Just briefly, we got about half a minute. I we got about half a minute. What will be lost riding schools shut . What will be lost riding schools shut . � ,. , schools shut . Oh, its a huge loss. We are grassroots. Itsl loss. We are grassroots. Its where people can come to ride with had no experience in writing. We played roles in the community. The horse is a great uniting force in the country. From the queen to everyone, we all love horses. If you were to lose that. There is a humanitarian issue in terms of horses, what would happen to 30,000 horses, and the loss of support to our society would be deeply felt. Support to our society would be deeply felt deeply felt. Thank you for explaining deeply felt. Thank you for explaining that deeply felt. Thank you for explaining that to deeply felt. Thank you for explaining that to us. I hello there. Storm christoph will bring disruptive weather over the next 48 hours. The rains been falling through the day on tuesday, already mounting up to over an inch in places, and theres a lot more rain yet to come. And as it bumps into the cold air in the north, potential for snow as well. Lets focus on the rain because in some parts of england and wales, we could have around 150 200 mm of rain falling over the hills onto ground thats already saturated. River levels are already high. So, this amber warning from the met Office Highlights those areas particularly saturated at the moment with the high river levels plus the snowmelt to take account of as that also runs into the River Systems but its no means exclusively these areas. As i mentioned, its wet right the way up into Northern Ireland and southern scotland with the added potential of several centimetres of snow falling on some parts of the southern uplands, possibly even the Central Lowlands through the night, and ice, too. Furthersouth, its milder, its windier, and that south westerly wind, that moist south westerly wind, keeps pumping that rain up onto the hills and mountains of england and wales through the day but therell be some heavier rain elsewhere as well. So, a fairly grey, wet, windy sort of day and with some risk of snow as well as further rain across some northern areas. So, quite a contrast in our temperature and that really comes into play later in the day on wednesday because as that colder air starts to dig southwards as that low pressure, storm christoph, starts to move out into the north sea and the cold air digs in, it will turn the rain progressively to snow. Even at lower levels, potentially 5 10 cm through wednesday night and into thursday. Certainly more over the hills. Notjust scotland but, exclusively, we could see some across the hills of Northern England, too. And the winds by that stage as the low pressure, storm christoph, moves out into the north sea get towards gale or even severe gale force winds. So blowing that snow around, blizzard conditions but at least theyre blowing that rain away by that stage. However, by that stage, we will have seen significant amounts of rainfall, as i say, and the flood risk really is going to escalate in the next 12 24 hours. Then the cold air digs in and things slowly start to quieten down but between now and then, weve got that heightened flood risk across england and wales with persistent rain and several hundred millimetres in places, and then that snow risk heavy snow with drifting and blizzards in the north. The weather warnings and the flood warnings all on the website. Good morning, welcome to breakfast with dan walker and louise minchin. 0ur headlines today. We did what we came to do, and so much more. Donald trumps turbulant four years as us president ends today, asjoe biden prepares to be sworn in. The former prime minister, theresa may, has accused borisjohnson of abandoning britains position of global moral leadership. A volatile situation flood warnings rise across the uk as storm christoph gives parts of Northern England an overnight drenching. There could be another 18 hours of rain to come for some