Theres more news on our website bbc. Co. Uk news and via the bbc news app. Now, we can go live to singapore for Asia Business report. Froms highway reprieve, the Technology Giant is giving another three months before a us bank takes effect trumpa huawei. And why tata steel is cutting 3000 jobs gcioss tata steel is cutting 3000 jobs across its european business. Hello. Welcome to Asia Business report, i am sharanjit welcome to Asia Business report, i am shara njit leyl. Welcome to Asia Business report, i am sharanjit leyl. Washington has granted an extension for businesses to deal with blacklisted telecoms giant huawei. It comes as regular does continue to work and rules that the Front Administration says pose National Security risks. The bbcs mira hussein has the latest from new york. Huawei has been one of the most volatile flashpoints between the us and china. The tax giant has long been viewed with suspicion in america. Its status as a supplier of leading Network Technology as well
Australias biggest business bank. Theteargas returns to streets of hong kong as police and protesters clash again. First, lets get you started with a quick check of the markets close on friday. S p 500 index seeing the biggest fall in seven weeks. Of course, there are people just waiting for any sign of progress on the u. S. China trade negotiations. At the same time, it was a shorter trading day just after thanksgiving before the weekend, so it was 16 below the 30 day average. Energy and Consumer Discretionary leading the declines. Nasa fell and nasdaq fell half a percent as well. We have the opec plus meeting this week. There are signs they may not want to cut even further at the moment. Lets see how things are shaping up in asia. After managing to cap a third month of game, asia stocks tech starting december trading, nikkei futures up more than 1 in chicago. Ross mcewan starts monday as the bank faces a list of challenges. At the weekend, the australian newspaper reported they faile
Foreign purchases. We have the first public impeachment hearing testimony revealing the president s lawyer was digging up dirt in his shadow diplomacy in ukraine. Howi lets take a look at we are setting up when it comes to the start of trading here in sydney. Investors dealt a pretty mixed hand overnight. Stocks closing pretty close to fresh record highs. Still, uncertainty over the lingering trade negotiations continuing to chip away at sentiment. We are hearing potentially the agricultural purchases that had been a solid part of the phase i deal could be in doubt. China reportedly saying if these tariffs are not resolved, they could back away from purchasing more u. S. Soy and pork. Taking a look at the picture, just about 1 10 of 1 . Watching the labor market numbers, typically quite volatile, could be a move in the aussie dollar. New zealand, upside about 1 10 of 1 after the reserve bank of new zealand held on rates for their last meeting of the year somewhat unexpectedly, causing
President trump warns he will smash the turkish economy. Hong kong calms down after a long and difficult weekend. Leadership in beijing should meet protesters. Get you across some breaking news out of south korea right now. This is the current account balance for the month of august, and it is coming in, contacting on the july figure. Billion. In july, it was 6. 9 billion. We have seen rather disappointing export numbers out of south korea, but however, the current account remains in surplus after the chart, dipping into deficit back in may last year. It is trending a little down. The trade war is weighing on career. The current account balance for the month of august, 5. 265 william dollars. Chari. 5. 265 billion dollars. Shery the Trump Administration put 28 chinese entities on a new trade blacklist. The s p 500 was down. 5 in the regular session. Major indices ended in the red and they were fluctuating between gains throughout the session but we had energy and Consumer Staples leavi
Democrat, were willing to accept extraordinary disadvantages to american jobs. Billionaire telling the fed, they are, quote, screwing savers and says donald trump is wrong for his attacks. The president is doing a lot of wrong i wrote down yesterday, i said Consumer Confidence is up, retail confidence is strong, consumer net worth is at record levels, economy is growing at trend. Rbs investors welcome allison rose to become the first female ceo of a major british bank. Sterling hits a twomonth high after they say a brexit deal is possible hes open to a deal that might replace the irish backstop good morning the u. S. Vice president mike pence told cnbc at the alpha conference that President Trump is defending economic interests as they resume trade talks in washington, d. C. Today when it comes to china, it is a whole different ballgame we run 500 billion trade deficits with china and we estimate we lose almost as many in intellectual property theft almost every year. What the presiden