Us markets have their worst day since the president ial election as turmoil grips the white house. Plus alibaba goes west. Chinas 300 billion E Commerce Giant looks to america but can it take on its us rivals . Welcome to World Business report. Im sally bundock. Also in the programme, japans economy grows for the fifth quarter in a row has abenomics finally paid off . Well be live in tokyo for reaction. But first, we start on wall street where for months optimism about the trump presidency, the markets have been powering to record highs. But late on wednesday the trump bump turned into the trump slump as us stocks and the dollar suffered their worst day since before the election. The cause of the sell off . Growing concern that the president s promised tax cuts and pro business reforms may never materialise, as the white house battles one controversy after another. Lets show you the numbers. The Dow Jones Industrial average fell 372 points, and both the dow and s p 500 suffered their w
Now its time for World Business report. The us market rally shows no signs of losing steam. But what does the high valuation tell us about wall street and americas economy . The Magic Kingdom sets out on its own. Disneys announcing it will pull its movies from netflix and set up its own streaming services. Welcome to World Business report. Im sally bundock. Also in our Business Of Birth series we focus on Stem Cell Banking in india. It is proving to be quite lucrative. This week the main Stock Markets in the us have had another record run and londons ftse 100 flirted with breaking into record territory. Its a far cry from ten years ago when the global Credit Crunch started. On the 9th Of August 2007 there was a swift reduction in availability of loans as banks suddenly found they had billions of dollars in toxic debts clients couldnt afford to repay. The ensuing financial crisis cost the british economy up to 7. 4 trillion pounds in lost output thats close to 10 trillion the us economy
Working day in office. He said today will see the start of great deals for america. Also, how dangerous is burnt toast . A warning from the Food Standards Agency that overcooked foods could increase the risk of cancer. And Milton Keynes, One Of The Best known 20th century new towns, built to ease Housing Swap Shortages in london is celebrating its 50th birthday. Housing shortages. Good morning. Its the 23rd of january. Welcome to bbc Newsroom Live. Ministers are at a Cabinet Meeting, which is being held in the North West Of England for the first time, to unveil a new vision for British Industry. Its designed to give the economy a boost as the country prepares to leave the European Union. Theresa may says the government will take a new, active role focusing on science, technology and infrastructure, but labour is describing the plans as too little, too late. Our political correspondent, Eleanor Garnier is covering the Cabinet Meeting in daresbury in cheshire. What is This New Industrial
For the dow in the us. Well talk you through all you need to know. We will be getting the inside track on how our cities might look in the future when we meet the head of the Worlds Largest property fair. Today we wa nt Worlds Largest property fair. Today we want to know, do you love snatch at, or do you have no idea what it is . At, or do you have no idea what it is . Snapchat. Welcome to the programme. The programme is jam packed day, so we will make it as snappy as we can. We start on wall street where investors are gearing up for what could be the biggest and certainly the most hyped Technology Flotation since twitter in back 2013 or even facebook the year before. In a few hours time shares in snap the owner of photo messaging app Snapchat Will Begin Trading on the new york stock exchange. Will it end up a Stock Market Giant like facebook or like twitter a bit of a flop . The flotation has been hugely oversubscribed, allowing snapchat to up the price. Late on wednesday it priced it