impacted and influenced and controlled by technology. certain parts of those digital surveys are supposed to be inaudible infrastructure, therefore governed by non—profit and yet, there is so much capitalistic kind of approache to control of the commercial aspect and commercial potential of this technology. i think that openai saga was, you know — the fundamental tension is really between the nonprofit mission versus full profit. of course, there is a lot of nuance between this in terms of how they governed, how the board handled this whole situation, including exactly what technical concerns that the board has seen to compel them to press the panic button. last night, overnight, ijust woke up to a lot of discussion in terms of studies — we can take unpack that a little bit more — but the most important thing we can ask is what kind of, you know, technology, what kind of digital service should be governed by non—profit and regarded as a public service and what kind of technology should be controlled by shareholders and commercial services? let's now zoom in on binance because its leadership change also marks the latest scandal for the crypto industry which is still reeling from the collapse last year of rival platform ftx and the conviction for fraud of founder sam bankman—fried this month. earlier, i spoke tojustin d'anethan from keyrock and he told me why this time around, there hasn't been much of a reaction in the crypto currency markets. from a market perspective, what is remarkable is that most partipants have been unfazed. so, in the crypto space, it's been business as usual, regardless of how it may sound from the outside perspective. besides withdrawals that were taken out of binance — about1 billion so far — the exchange itself keeps on being operational. it is still the largest trading venue bar none in terms of users or product or venues and so, most participants are not changing their behaviour. maybe the one dynamic you would expect is other exchanges would take the opportunity of this new cycle to solidify their position, right? oo opx, which is seen as the exchange after binance, would probably be a bit more aggressive in terms of use acquisition or product development or other endeavours to solidify their spot while binance suffers. the value of major cryptocurrencies has not really moved, either, and you spoke about the withdrawal which there was some but compared to ftx, it's kind of nothing. why is that? it's a simple explanation — in ftx, there was something fundamentally wrong with the management and operations of the exchange which were just plain—out out fraudulent. funds were taken out and everybody essentially went for a bank run and tried to remove theirfunds. but for binance, the issue is not about the exchange itself, the platform, but more about the compliance and regulatory practices of maybe management and the different users that were accepted on the platform. but it doesn't come as a shock and it doesn't really impact the well functioning, again, of the exchange itself. an analogy i've used when describing this issue is more if you think about traditional finance and large banks — think of maybe ubs or hsbc as an example, maybe they would be fined for bad behaviour but it doesn't mean stocks would go down. or even the sector as a whole is suffering. they pay the fine and they can carry on and maybe improve their practices. i think it's a similar case that's happening here with binance. what do you make of the new singaporean boss? i think it's positive, a good choice, it marks the difference between cz, who was prominent but crypto native. but the new ceo is much more traditional, finance—savvy and in touch with regulators and regulators in general so it would probably take binance in a good path moving forward. today is the biggest shopping day of the year in the united states, black friday. the retail sector has a lot riding on how much american consumers want to spend in the next 2a hours or so. while the us economy shows notable signs of strength these days, people are still feeling the pinch of inflation as well as high borrowing costs. we caught up with jcpenney�*s boss. we do see that our customers are absolutely facing the headwinds of inflation and so, there's a number of things we're doing. firstly, it's offering them pre—inflation prices. so, we looked at hundreds of holiday items in black friday items and we are offering those at the same or lower price than last year. the other thing we are doing is helping them on the credit side. because we know that's also important to them. so, starting december one and running through to december 2a, we are running a special promotion that is in—store only and when a customer spends more than $250 for their basket, they will be able to have that and carry that for six months, interest free. they will make six equal payments but it will be interest—free. when you talk about those pre—inflation prices, who is who is absorbing the difference in cost there? because i know the prices themselves have not come down. i think one of the advantages that we have is we have a lot of really great brands that are private label brands — brands like stjohn�*s bay, liz claiborne, brands like cooks in our home electrics — and because of the direct relationship that we have with our factories, we are able to go back and negotiate with our factories to get the lower cost and then, to pass that lower cost onto our consumer. can you tell us about the sentiment of the american consumer? one of the big trends we've seen this year is people are going to be entertaining more and leaning more into entertaining and so, one of the things that we've done for them is customers are saying they are spending on average $300 to entertain their home on the things they need. and so, what we did is we went out and said, "we can "help you entertain for a lot less than that". jcpenney is one of the most storied brands in american retail but it's also one of the most notable recent bankruptcies, so how are you going to lure shoppers back to jcpenney to make it a viable business? in september, we launched billion—dolllar investment, a self—funded reinvestment plan into the business, and we did it along with launching our make it count campaign. since we've done that, we've seen our organic searches and our google searches quite significantly. we launched the early black friday event november 3—5 and had a strong event with a big increase in traffic in stores. so, what we are seeing is that customers are realising and seeing again the value and the great items and great brands that they can get a jcpenney and they're coming back to shop. over the years, the black friday shopping fever has caught on all over the world and just like in the us, uncertainty about the global economy could cast a shadow over the event. i spoke to consumer forecasting company wgsn'sjess tang and she told me the despite the popularity of online shopping, the brick and mortar, in—person retail experience is just as important. what we're seeing is brick and mortar is definitely rebounding and when it comes to the shopping experience, in—person brick and mortar experiences are still as important because shoppers are seeking pleasure, excitement and sensorial stimulation and at wgsn, we call it �*the sensory adventures�*. and because in places such as hong kong we'vejust come out of the covid—19 earlier this year, so the upcoming holiday is actually the first christmas since the pandemic and also, there is also the sense of cost of living, all of the doom and gloom and future uncertainty. people just want to escape. so, getting into a brick and mortar, in—person experience is important because they are experience—hungry and they want to have a strong sense of excitement and really having this strong anticipation for the holidays. yes, i was going to ask — the excitement of going to the store. in terms of the amount of money they will spend, the cost of living crisis will probable have an impact on how much they may actually decide to spend. today is the start of the black friday, the american shopping festival, but it's interesting to see how is manifesting in asia. earlier in the year, right after the pandemic, we were all forecasting that's it's all about rebound shopping where inaudible. what's new is we are seeing shoppers who are finding ways to make more strategic shopping decisions so it would still splurge and look for moments of indulgence but only when it gives them tangible rewards because we are seeing a lot more savvy shoppers and they are just making the most of their limited budget. that's it for this edition of asia business report. voice-over: bbc news, - bringing you different stories from across the uk. this was the scene in mold just last month as storm babet swept across wales. but what can be done to protect properties like this from flooding? these defences are part of a former impound project in ammanford, a town classed as a flood high—risk area. the hope is that these walls will contain the water within the river loughor nearby and help save hundreds of householders from the heartache of flooding. currently, there are about 223 properties at risk of flooding during a one—in—100 flood event and that's predicted to increase to over 380 with climate change over the next hundred years. the effects of flooding can be devastating. this animal sanctuary near trimsaran is close to the river gwendraeth and regularly blighted by flooding. injanuary, they had to take one of their dogs for chemotherapy by boat. horrible. it's intolerable. i had to put my elderly mother in a boat to get her home a few weeks ago. push her through the water. i've had to put dogs in the boat to get them up to the car to go to the vet. it is just an absolute living hell. moving is not an option for this woman. she says she is trapped. voice-over: for more - stories from across the uk, head to the bbc news website. hey, i'mjulia with the catch up. tonight: askinnyjab raid. a dramatic rescue. and girls aloud come back. but first, in gaza, there will be a pause in fighting, starting from friday morning — that's what officials from qatar say. they've been working to get a deal agreed between israel and hamas, the group that controls gaza, who the uk government has labelled terrorists. also in the deal, hamas is set to let 50 hostages go, 13 of them on friday. and in exchange, 150 palestinian women and teenagers will be released from israeli jails. some other stories now. a man has been arrested in connection with a black market of so—called skinny jabs. police raided a house in humberside and found vials of knock—off ozempic — a diabetes medicine that's been dubbed the hollywood weight loss drug. it's illegal to sell it without a doctor's prescription. a crane operator has rescued a workerfrom a huge blaze in reading. videos on social media show the man climbing into a metal cage and being airlifted away from massive clouds of smoke. and girls aloud are back after an 11—year break. they've announced a big reunion tour happening in may 2024, dedicated to their bandmate sarah harding, who died of cancer in 2021. and we leave you with ten seconds of the biggest animal on earth. so, blue whales are heading back to the indian ocean, where they were totally wiped out by whalers back in the 1960s. researchers and documentary makers caught this footage of them near the seychelles. you're all caught up now. have a good night. hello and welcome to sportsday with me, i'm hugh ferris. our top stories. djokovic dominant in a different setting. he sends serbia through to the davis cup semi finals. 12 teams, three spots. wales are one of those teams who now know their path to a place at euro 202a. we have proven time and time again, at home, with the red wall behind us that we are capable of getting fantastic results and fantastic nights. so we are hoping for two big efforts. a rare underdog seeking revenge. katie taylor says she's ready for her rematch with undisputed champoin cha ntelle cameron hello again. serbia have knocked great britain out of the davis cup with novak djokovic dealing the final blow in the competition's quarter finals in malaga. afterjack draper lost the opening rubber to miomir kecmanovic, the world number one beat cameron norrie to take his country into the last four. joe wilson was watching. you could focus on the missing men. no murray or evans. this was a talented team for great britain. against serbia jack draper was playing kecmanovic, not djokovic.

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