but does the new president have the right formula to bring backjobs and growth? plus — nafta nerves. tense times for mexico as its two—decade old trade deal with the us is thrown into doubt. welcome to world business report, i'm aaron heslehurst. we have got about nine minutes, my very last early—morning programme for you all before i moved to a new show. —— move. coming up, who needs the us anyway? asia pacific trade ministers hope to salvage the trans pacific partnership after president trump pulled the plug. we start in france, where the new president, emmanuel macron, says he expects no honeymoon from the public after his first week in power. he now has try and to win a majority in next month's parliamentary elections, and implement the economic policy he says can turn the country around. so what is macron economics, and can it solve france's problems? macron calls himself neither right nor left — and sure enough, the team he announced on wednesday is a diverse mix of figures from parties on the left, the right and the centre. he says his economic policy is based on the ‘nordic‘ model. what's that? basically it mixes spending cuts on the one hand and giveaways on the other. he plans to cut spending by 60 billion euros over the next five years. the civil service will be hit hard — 120,000 jobs will go. but over the same period, he has pledged 50 billion euros worth of stimulus measures. that includes cutting the corporate tax rate from 33% to 25% — and lowering the tax burden on households. it's a similar story with free trade. as a former banker, he's broadly for it. but he's also talked about creating a protective europe. yes, as in protectionism. he wants eu governments to agree to ‘buy european‘ — and stop non—eu companies taking over key industries. finally, the awkward question of labour reform. france's jobless rate is almost double that of germany's at 9.6%. many employers blame strict labour laws, like the 35—hour working week. but they are fiercely defended by unions. so where does mr macron stand? you've guessed it, somewhere in—between. he wants to keep the 35—hour work week — but change the way the law is applied to make it easier to hire and fire. hopefully we are going to speak to oui’ hopefully we are going to speak to our guest, maybe today or tomorrow? iam our guest, maybe today or tomorrow? i am looking at the screens here, next tower. —— next hour. we will go to paris next tower. —— hour. we are also in mexico, after the trump administration notified congress on thursday that it will start talks to renegotiate the north america free trade agreement "as soon as practicable". president trump has called the 1990s nafta deal with canada and mexico a killer of usjobs, and made shaking it up a campaign pledge. it's a big worry for mexico's huge auto industry, and the global carmakers that have invested heavily there as michelle fleury reports. this port in central mexico. the auto industry has been booming for yea rs, auto industry has been booming for years, they are one of the largest exporters in the world. we import a lot of cars, we export a lot as well. or disprove under threat? it was meant to be a shining example of free trade, but today it is a monument to protectionism. this is all that is left of an attempt to make a plenty of —— could this boom be under threat? this man made a deal with forward, for a while, life was good. but it didn't last. some people came to the planned and said there was no entry. trucks couldn't go in, it had all collapsed. not just for the trucks, but for everyone. during his campaign, donald trump complained of bad trade, making the issue his own. we are living through the greatestjobs left in the world. his attempt to move production to the us seemed to yield results. forward is keen to emphasise the market forces which have helped scrap plants in mexico. —— ford. have helped scrap plants in mexico. -- ford. at the end of the day, we have to do what is right for our business. we have to look at tax policy, trade policy and the trot. that is the business environment we we're too. —— tax policy, et cetera. the car industry has every reason to be worried. people are more pessimistic about the future of the economy than they were in the great recession. everyone is scared. the economic advantages which created the car boom have not disappeared. a more protectionist us administration would undoubtedly do great harm to many livelihoods in this part of mexico. staying with trade concerns around donald trump's policy, the leaders of apec gathered at a summit in vietnam. they are pushing to save the transpacific partnership trade deal. pulling out of that was one of the first actions by president trump. heading over to my favourite man on television. great to see you, my friend! we are not going to talk that much. i have been hearing bad news that you are leaving the mornings! i will be doing my own show later in the day. you will be asleep. i need to ask you this, what is going on? is this the leaders of a pack trying to reignite the deal between themselves, or are they trying to get america back on board? so far, america is out of the equation. you have the transpacific 11, they are trying to resurrect the trans—pacific partnership. 11, they are trying to resurrect the tra ns—pacific partnership. the members will be meeting on the sidelines of the apec trade ministers meeting in discussing how to revive this arrangement which was ditched by donald trump. they are relu cta nt to ditched by donald trump. they are reluctant to move ahead without the unite dates, japan is that the forefront of this push along with new zealand —— united states. this could help the position of the members in bilateral talks with the united states. hopefully we will have more information by monday if indeed japan and new zealand will push ahead with the other nine member countries. once this gets started, maybe we can do some trading with our programmes! let me just leave you with this. in other news: greece's parliament has approved a new package of austerity measures needed to release the next instalment of its multi—billion—dollar bailout. protesters clashed with police in central athens as mps voted on the tax rises and further cuts to pensions. eurozone finance ministers meet on monday to decide if greece has done enough to receive a e7.5 billion loan plus debt relief. trading was briefly halted earlier today after circuit rakers kicked in. the president was forced to deny a report that he had paid off a witness in a huge corruption scandal. an investigation has been ofa scandal. an investigation has been of a ride into those allegations. —— on thursday night leaders of five political parties took part in an itv debate broadcast live from salford. they included the liberal democrats leader tim farron, ukip's paul nuttall, the snp's nicola sturgeon, plaid cymru's leanne wood and green co—leader caroline lucas. here's a flavour of what they had to say on the issue of brexit. it has been pretty much ignored since the referendum, gibraltar has been featured more than wales. we wa nt to been featured more than wales. we want to advocate wales' national interest and make sure that the tories don't get away with an extreme brexit. theresa may is not just pursuing a brexit, she is pursuing a hard and extreme one. she threatened again to walk away with no deal. that would be an economic catastrophe. in scotland alone, it would cost 80,000. —— 80,000 jobs. there was no clarity as to what leaving meant. that is why the general public should have the final say on the package. when people voted to leave the eu, they voted to control immigration. say no to any divorce bill that is put on the table. since we have been members of this club, we have paid over £180 billion in membership fees. the deal will only be good if theresa may shows backbone. the negotiations between brussels and london over the l-l...--_ n...---|- ._j |._j_m .... ,1l, will lead tgr" * " l-l...--_ n...---|- ._j |._j_m .... ,1l, i will git tgr" * " , l-l...--_ n...---|- ._j |._j_m .... ,1l, i trust “fizz: tgr" * ' ' , l-l...--_ n...---|- ._j |._j_m .... ,1l, i trust the tgr" * ' ' , l-l...--_ n...---|- ._j |._j_m .... ,1l, i trust the people. ' ' , or the people. i trust the people. we will have more night at six o'clock 0n breakfast. —— fordon. this is bbc news. the latest headlines: president trump has said the appointment of a special counsel to investigate russian influence on the election is a witch hunt. he has again denied any collusion with russia. there've been violent protests on the streets of athens after greece's parliament approved a new package of austerity measures. voting is taking place in iran's presidential election, with the current leader, hassan rouhani, hoping for a second term. and the japanese government has approved a draft law to allow the ailing emperor akihito to abdicate. now it is time for our news review. you could have told me before. you could have told me beforem you could have told me before. it is my last daily review. i am going to mist it. i almost want to kiss you. please don't. the arab news says according to saudi foreign minister, adel al—jubeir, us president, donald trump, plans to push back on iran and ensure it compliance on the nuclear deal, citing statements from us officials. the ft leads with allegations that brazil's president has been caught on tape endorsing bribes has shook the markets sending shares and the real currency sharply lower over fears the government may collapse. the independent business section takes a look at the pound which has cracked the psychologically important one dollar thirty mark for the first time since the 30th september. sterling's strength has been helped by due to the us being weak us in recent days. the guardian financial section reports on workers at electric carmaker tesla's plant in california who are complaining of stress and physical problems as a result of aggressive production goals. and finally, also in the ft, the founder of the american news

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