it‘s friday. it‘s 9 o‘clock. sunshine. also once again a few wintry showers. wintry showers. i‘m chloe tilley. should be drier and brighter but cold welcome to the programme. again. with isis forces in syria — have cold again. temperatures down the degree to 8 degrees. been captured. degree to 8 degrees. than 20 hostages. it will remain cold and always the threat of wintry showers. threat of wintry showers. hostage for ten months. protecting our children‘s mental health. to get proper support for their pupils. has been vital for her daughter. woo — let‘s go! of the most anticipated comic adaptations of all time. about the reception it got at last night‘s uk premiere. hello. robertson and david eades. are wiped off the dow — for the second

time this week. live from london, that's our top story on welcome to the programme. friday 9th february. we‘re live until 11 this morning. of a stock market ‘correction‘. plus, clean up or pay up! to come up with a plan to tackle air pollution — orface eu fines. and the markets are all down again, as expected. as expected. this is how they stand as they open on friday. about a raise in interest rates.

editor, kamal ahmed. about anything in the programme. just use #bbcbizlive. hello and welcome to business live. there seems to be no stopping the global stock market sell—off. it was another gut—wrenching day for investors on wall street. wiped out more than 1000 points for the second week. major asian markets also suffered sharp losses. so let's look at the numbers. what have we got? down for thatjust have a look at the percentages. —— nikkei.

3%. the dow is down 4%. you can see any difference, really as anyone‘s. as anyone‘s. do it looks as though the european markets will all follow. markets will all follow. markets have been open for 30 minutes. minutes. they will settle down and we will see which way the going. off on wall street. losing more than 10% of its recent peak.

hamper economic growth. investors are not yet alarmed. would sooner or later be let out of the bubble. the white house claims to be similarly sanguine. was at record lows. on wall street.

happening in the us later on in the programme. 0ur asia business correspondent karishma vaswani is in singapore. what kind of the day have you been having? having? it has been extremely busy, but for all the wrong reasons. but for all the wrong reasons. today, it has been a pretty measurable week. measurable week. fall across the board, as you were talking about earlier. talking about earlier. mirroring the falls in south—east asia as well. falls in south—east asia as well. all of this prompted by the sell—off in the united states overnight. in the united states overnight. me they are not sure where this volatility will go. volatility will go.

direction we have been seeing for the better part of this week? the better part of this week? they feel there are problems in asia itself. itself. problems in china, or problems in japan. japan. rises at a faster pace than most people had anticipated. people had anticipated. they are worried about the outflow of foreign cash. of foreign cash. interest rates were low in the united states. united states.

valuations in stock markets all over the region. emerging market valuations. valuations. there is concern that many will disappear. disappear. that is the reason why so many are concerned. many are concerned. problem is or was at the top of peoples minds. peoples minds. something people have not been thinking about. thank you very much indeed. on cutting air pollution. they are being told — clean up — or pay up! let's show you the details. the uk and eight other states are on a final warning. on the quantity of nitrogen dioxide and other pollutants in the air.

spit it out. in the first month of 2018. year when it reached the quota in just five days. prematurely this year because of air pollution — and enough is enough. could face fines or sanctions by the european court ofjustice. — most recently late last year. with environmental law charity, clientearth.

penalties and sanctions to be imposed. imposed. protect people from illegal and harmful levels of air pollution. harmful levels of air pollution. have been shameful in neglecting to uphold their duties on this. uphold their duties on this. presumably this is an uphill battle for you. for you. it would be helpful if sanctions were applied. sanctions were applied. you cannot feel that will encourage member states to change. member states to change. the process started over four years ago. the process started overfour years ago. the process started over four years ago. we are really... really... governments have been given a last chance to rectify these mistakes. chance to rectify these mistakes.

countries who have been unable to meet the targets. meet the targets. the eu has not imposed the fine is. imposed the fine is. are the standards too much, too quickly? standards too much, too quickly? they are asking too much of us. standards were agreed by member states, august 20 years ago. states, august 20 years ago. have had plenty of time to get their acts together. acts together. usual and not thought about how to protect people. protect people. how far have you got with this? with this? we have seen the uk government slowly dragging its feet. government slowly dragging its feet. courts have caused it to create a quality plans. quality plans. introduce clean air zones across the uk but they do need to do more. uk but they do need to do more. that is why we were in the court earlier. is why we were in the court earlier. what happens after brexit?

be in the scope of this particular directive from the eu. directive from the eu. uk government does not use this as another excuse to not take action. another excuse to not take action. european union is the enforcement the commission gives. the commission gives. can actually force the government to act. thank you very much. let's take a look at some of the other stories making the news. for the republican—controlled congress. was the second this year under republican president donald trump. and magazines such as 0k!

owner richard desmond. takeover offer from its singapore based rival broadcom. nice to be undervalued at $121 billion, wouldn't it? billion, wouldn't it? anything is overvalued at the moment. moment. markets which have been doing their bit throughout the week. sue noffke, uk equities fund manager at schroders is here. it has been a tumultuous week. hit the buffers on the downward slope? we have entered correction territory.

this is a correction. some might say it was overdue. seen, certainly, this 10% is normal for the markets. for the markets. levels of volatility and small levels of weekly or monthly moves. levels of weekly or monthly moves. is it normal within a week or a matter of days? absolutely. order of 3% and 5% in a day or in a week. week. what we have seen is down 10% in the us within five days. in the us within five days. and you think, what does this tell us about the us economy? us about the us economy? what will it tell us about the global economy? it tell us about the global economy? i'm not sure it tells us much about the global economy. the global economy.

pricing in in terms of good news on the economy, which we know about. the economy, which we know about. here and appetite has increased and at an all—time high. at an all—time high. all of that was flashing dangerously. flashing dangerously. terms of reaction, how authorities should react, the central banks? should react, the central banks? there is a problem here, we should do something about it? do something about it? that is an interesting question. interesting question. the latter camp of letting the markets play out. markets play out. at various times in history is that central banks do come in. central banks do come in. in to calm the markets and step in the measures to support the markets. the measures to support the markets.

over in march with his first meeting. meeting. have been that the us would continue to raise interest rates. to raise interest rates. message would be, hold on, hold tight. the fundamentals have not changed. changed. quite a heated situation at the beginning of the year. beginning of the year. thank you very much indeed. thank you. still to come — that was the week that was. more serious? 0ur economics editor will be here to explain all. you're with business live from bbc news. 7 million. that this was a good dealfor

readers. matches, more breadth of coverage. shareholders, it's good for our pension funds. remove duplication, mainly in back office functions. duplication. so, there will be some changes. obviously we will be talking to those teams in due course. but broadly this is very, very good. this transaction doesn't affect our regional newspapers at all.

through to the plymouth herald. and trinity mirror as a group makes over £120 million. investment in our great regional titles, both in print and digitally. the daily mirror is not going to become right—wing. the daily express is not going to become left—wing. we've got 100 titles in the group. a broad stable of titles. of politics in the papers and far more right—wing coming together. more right—wing coming together. politically it doesn't seem to make any sense. any sense. papers of two different political persuasions? persuasions?

it strikes me as an odd thing to do. thing to do. if he's reporting one way on one thing and one way on another thing. thing and one way on another thing. instead of two to every football game. rationalisation, that's right. you're watching business life. wiped off the dan jones for the second time this week. second time this week. a quick look at how the markets are getting on. at how the markets are getting on. one would guess not so well. about 45 minutes ago, the footsie down 0. about a5 minutes ago, the footsie down 0. 5% and the cac a0 down just a fraction. fraction.

3973. context, two weeks ago i think it was at1. context, two weeks ago i think it was at 1. was at 1. stretch over the last two or three weeks. weeks. has been a heck of a week in terms of the business world. of the business world. interest rates sooner than previously thought. previously thought. us and asia have caused them to plummet over the last 2a hours. 0ur economics editor, kamal ahmed is here. twain shall meet but they are not the same thing. the same thing.

american market particularly has been affected. been affected. up they are on the wrong side and back and drag down the market. back and drag down the market.

grabbing the dog and swinging it around the room. around the room. the ftse100, the cac a0, much more gentle. gentle. if i should be selling and getting out of this market? out of this market? retail investors go in and i think you get the retail response. you get the retail response. are not a huge proportion of the market. market.

equity markets as retail fund investors start pulling out as well. investors start pulling out as well. to increase the interest rate and at an accelerated pace, perhaps. an accelerated pace, perhaps. everyone is interested one way or the other, obviously. the other, obviously. any sense as to how fast acceleration that is. to how fast acceleration that is. when can we expect this to kick in? england over the next two years, maybe three 0. maybe three 0. that year, that is unprecedented historically. historically. the ecb still has negative interest rates. negative interest rates. a% and monetary policy is set for recession. recession. this has created a great tension because people are... tension because people are...

monetary policy but act will large global growth. global growth. week because we have been distracted? is there any particular story? story? i've probably missed loads of stories and we won't have time. think we will settle on 10% froth, as much as you should have. as much as you should have. i'm sure i miss something every week. we all do. do. kamal ahmed, thank you. here's a quick reminder of how to get in touch with us. with analysis from our editors around the globe. around the globe. business live website on bbc dot com/ business. com/ business.

online, what you need to know and when. taking an interest in? sue noffke is back to look through the papers. shall we focus on the church of england investment funds? england investment funds? issues of diversity, gender, climate change. i think they had already mentioned. mentioned. but they are setting the moral bar, aren't they? moral bar, aren't they? general meetings, usually from april. april. to voting against various members of the board. the board. and they've decided basically not to invest...

it's not as draconian as that. that. the appointment of certain individuals. individuals. this is a job or be pushed situation for them. pushed situation for them. much better for them to be seen to taking the initiative. taking the initiative. voice, and then the next stage is to collaborate, or disinvest. collaborate, or disinvest. found other funds doing this outside of the obviously moral? of the obviously moral? people and comes under the name sustainability, or stewardship. sustainability, or stewardship.

our clients by having a positive influence. can we talk about hummus? one of the other, hummus will get people interested. people interested. the price of hamas has gone up 12%. hamas has gone up 12%. —— the price of hummus has gone up 12%. 12%. india, the hummus harvest is and what it would have been. prices are up. it is not all bad. pea and mint dips are on their way. good. thank you very much indeed. that‘s it from business live today. on the bbc live webpage. bye for now.

sunshine and feeling colder than yesterday. yesterday. their way into the west of scotland, snow down to lower levels. snow down to lower levels. spells, but those temperatures a few degrees lower than yesterday. degrees lower than yesterday.

eastern parts going into the start of saturday. of saturday. saturday is looking rather unpleasant. rather unpleasant. improve into the afternoon with a bit of sunshine. bit of sunshine. the temperatures up by a few degrees again. by a few degrees again. brought the rain, clears away into the south—east. the south—east. tracking all the way back up towards greenland.

greenland. particularly command also northern ireland. ireland. in between the showers there will be some sunny spells. there will be some sunny spells. colder again, those temperatures down to about a—7dc. down to about a—7dc. we keep the colder weather into next week. colder weather into next week. can find more on that on our website. bye bye. 00:29:28,549 --> 4294966103:13:29,430 hello.