motor city motors on. fiat chrysler says it will invest $1 billion in the united states as the detroit motor show gets under way. iron ore prices are set to plunge — that's the message from the australian government, sending mining stocks down. welcome to world business report. i'm sally bundock. also in the programme: the boss of rolls royce is here to tell us why luxury cars still have the edge. that is his view. we will talk to him ina that is his view. we will talk to him in a moment. but first: over the next few days, the world's car makers will be taking the wraps off their latest products at the detroit motor show. the car seems more popular than ever — an estimated 75 million were sold last year, but 2017 is already beginning to look like a big year of change for the industry. not least because more of them are looking to invest in the united states. in the last few hours, fiat chrysler has said it will put $1 billion into two us factories, which will create 2000 newjobs. the incoming president donald trump has been piling pressure on carmakers to make the vehicles they sell in the us in the us. meanwhile, the traditional business model of the industry is changing with the disruption coming the technology firms. google, apple and uber are pushing innovations like driverless technology and car sharing apps. and that will also mean more electric cars. global warming and pollution are just two of the reasons many of the established players are focusing their investments in this area. in particular, concerns regarding diesel engines with cities including paris, mexico city, madrid and athens all planning to introduce some kind of ban over the next decade to improve air quality. and then there is the prospect of a free trade era slowing down — that's why fiat chrysler is investing in the us, with donald trump threatening several leading manufacturers with tariffs for building cars in mexico. karl brauer is an analyst with the us car website autotrader, and says donald trump's plans might come back to haunt him. what i think will happen is donald trump will come into office and told for smart ways to keep jobs in america, but at the same time, you have to be careful for unintended consequences. go have to be careful for unintended consequences. go buy the role of government agencies. if you keep the jobs here and force prices up and make them uncompetitive with cars coming in from somewhere else or companies building the cars in a different way, you could end up hurting companies because they simply can't make the cars affordable for americans. then you will have company is laying people off, not because the cars are built somewhere else, but because they can't sell enough cars to employ people. economics is interesting. usually there is a cause and effect a new carjust do one thing at issue it is always an upside. there are a lwa ys it is always an upside. there are always repercussions somewhere else. —— and issuing it is always an upside. with me is torsten muller—0tvos, the chief executive of rolls—royce. let's talk about your results. another fairly good year, quite interesting, where you have been selling cars more than usual last year. i would call it a tremendously good yearfor us, year. i would call it a tremendously good year for us, plus 6% worldwide what we have achieved in light of some considerable headwinds we have seenin some considerable headwinds we have seen in some of our markets worldwide. plus 6% is great, over four dozen cars. 0ver worldwide. plus 6% is great, over four dozen cars. over 250,000 euros, a great achievement —— 4000 cars. fair enough. you sell most of your ca i’s fair enough. you sell most of your cars in usa. yes, that is the biggest market. after that, you saw a 25% rise in sales in the uk. the uk has been a very good market for us uk has been a very good market for us last year. plus 25%. the overall market was quite strong for us. why? we should not forget we have introduced last year our new convertible into the market, and that has played particularly well in the uk. it had tremendous market success and is part of the success story of plus 25%. why was the uk so strong for you last year? you will see a lot of individual target groups in the uk, and the economic climate is not bad in its way, and for that reason we have seen you business for us. when it comes to the industry and all of the changes we have seen already, the donald trump effect, technology, the likes of google and apple getting involved, where do you see yourselves in the future? some argue that you have not necessarily moved with the times as quickly, for example when it comes to electric. you were very slow to get ahead on that. we are in a very different segment. we are not a traditional automotive business. this is more luxury. 0ur automotive business. this is more luxury. our clients don't need a car 01’ luxury. our clients don't need a car ora luxury. our clients don't need a car or a rolls—royce to go from a to b. they have several cars in a grudge. they have several cars in a grudge. they are not prepared to accept compromises, such as compromises on charging transfer batteries and things like that —— in bay barrage. but more people want an environmentally friendly vehicle double get them from a to b, maybe by plugging in as opposed to using 0ldfield. by plugging in as opposed to using oldfield. we are committed in that direction. —— old fuel. you may be aware of our vision, a full autonomous driving full electronic car. that is how we see the future of luxury transportation and rolls—royce. when can we drive one of those? in the next ten years, definitely. we are clearly committed to entered the field of electric. he must accept our customers love and enjoy our business. look at the numbers. we have been highly successful last yea r. numbers. we have been highly successful last year. we would not be success are full if we did anything wrong when it comes to drive rates. for that reason i think we are in good shape. we might see more in london today because of the tube strike. you never know. thank you for coming in and telling us how you for coming in and telling us how you are doing. great to be around. of course we are at the detroit motor show. you can watch our website for the very latest from there as the week progresses. let's talk about what is going on in australia. shares in australian mining companies have been falling sharply today in sydney after the government warned of a dramatic decline in iron ore prices. iron ore is a key ingredient in steel, and one of the country's major exports. let's go to sharanjit leyl, who's in our asia business hub in singapore. talk us through this warning any immediate impact for financial markets. the impact on financial markets. the impact on financial markets is that we are seeing those australian mining company shares falling, like fortis kiss you —— fortescue falling nearly 4%. the department of innovation and science said they would be a dramatic decline in iron ore prices. it projected that iron ore prices in two d oze n projected that iron ore prices in two dozen 18 would be almost half the current level of 80 us dollars a ton. the current price, bear in mind, is being supported by resurgent demand from china. the department goes on to say to mind is unlikely to continue over the coming yea rs, unlikely to continue over the coming years, and also lowered its forecast for iron ore exports by 2% to just over 832 million tons for this fiscal year. all of this takes a huge toll on australia. it is the world's biggest supplier of iron ore, and shares it has been following —— has been falling, although they were against the trend. we have seen the asx gaining today to 18 month highs. again, in this forecast, i should add, the same department made a forecast early last year, and predicted a similarly dire forecast for iron ore prices, but in fact, there was an increase in chinese demand that spoke the price above $80. -- spared. thank you very much. let's squeeze in a few other stories. london faces a day of disruption with many underground stations closed, especially in the centre of the city, because staff are on strike. they've walked out in a row with management over station ticket office closures and job losses. 0ne estimated suggests that the 24—hour strike will cost the city's economy as much as £300 million, which is almost $370 million. two senior samsung executives have been questioned as part of the corruption probe surrounding south korea's impeached president, park geun—hye. it's reported that they're being treated as witnesses. the electronics giant is accused of giving large donations to non—profit foundations operated by a close confidante of ms park, allegedly in exchange for political support for a controversial merger. ms park denies any wrongdoing. venezuela's president, nicolas maduro, has announced a 50% increase in the minimum wage. it's the fifth increase in the last year and is supposed to help venezuelans who are struggling to cope with hyper—inflation, which is estimated to be around the 500% mark. the opposition says mr maduro is responsible for the economic crisis which has been engulfing the oil—rich country for the last few years. a very brief look at the markets today in asia. they are trading at the moment. japan is shut today for a public holiday. also you can see a mixed picture. iwill see a public holiday. also you can see a mixed picture. i will see you soon. plans aimed at cutting suicide rates and improving support for people suffering with mental illness in england will be set out by theresa may later. it's her first major speech on health since becoming prime minister. she's expected to announce plans to reduce the waiting times for mental health services. schools will also be expected to play a bigger role in identifying mentally vulnerable pupils. severe delays are expected in london during this morning's rush hour because of a strike across the entire tube network. workers from the rmt and the transport salaried staffs' association are walking out for 24 hours in a dispute overjob losses and ticket office closures, as andy moore reports. the first tube stations began closing soon after the strike began last night. many more are expected to follow today, including most in central london. there will be no underground services from any of the big london rail stations such as king's cross, waterloo and paddington. the dispute is overjob losses and ticket office closures. at last talks yesterday, transport for london said it offered to com plete for london said it offered to complete new stuff, but the union said that was too little too late. the mayor of london, siddique khan, said the strike would cause misery for millions of londoners and said there was a good deal sitting on the table but would ensure station safety. —— them out. the last major tube strike was in the summer of 2015. as on that occasion, there will be extra buses, but it is expected they will struggle to cope with demand. if tube stations open at all, it will probably be later than normal, and many will close at seven o'clock in the evening even though the strike will have finished by then. transport for london says it expects the tube service to be severely restricted. coming up at six o'clock on breakfast, charlie and naga will have all the day's news, business and sport. they'll also have more on why a leading pet charity say they're helping more people decide what to do if they're unable to take pets into care homes or sheltered accommodation. you are watching bbc world news. if yours are due to be held in israel today for the four soldiers killed bya today for the four soldiers killed by a palestinian attacker who drove a truck into a crowd into a listen. three days of national mourning are under way in three days of national mourning are underway in iran three days of national mourning are under way in iran after the death of the former president akbar hashemi rafsanjani, the former president akbar hashemi rafsa njani, he was the former president akbar hashemi rafsanjani, he was 82 years old. more than 20 people have died because of bitterly cold weather in much of central and eastern europe over the weekend. the golden globe awards ceremony in los angeles, la la land, in nostalgic nod to hollywood musicals, has won best film and best director. now it is time for our news review: the independent leads with jerusalem, where four israeli soldiers have been killed in a lorry attack. the palestinian driver was shot dead, while israeli prime minister binyamin netanyahu suggested islamic state was involved. the guardian leads with uk foreign secretary boris johnson, who has flown to new york for the uk's first formal face—to—face meetings with us president—elect donald trump's administration. the front of the arab news has a picture of former iranian president akbar hashemi rafsanjani, who has died at the age of 82. the international new york times' front page shows a swarovski crystal glove worn by michaeljackson. the article looks at how items such as these are among certain objects a us body is trying to recover from corrupt regimes who use their countries' wealth to enrich themselves. the kleptocracy asset recovery initiative is trying to seize a glove like this one from equatorial guinea's ruling family. and finally — the iphone turns ten years old. the gulf news takes a look how apple's ubiquitous smartphone became a modern—day icon. i hate using the word "icop", but i have to say, it might well fit. henry bonsu joins us. am i an icon? the more times you appear on this programme, the closer you are to being an icon. keep inviting me on, i'll always