0:00:10 > 0:00:14Duncan Kennedy has more.
0:00:14 > 0:00:16This is Business Briefing.
0:00:16 > 0:00:19The US government has filed a lawsuit to try to stop
0:00:19 > 0:00:22the multi-billion dollar takeover by the American telecoms giant AT&T
0:00:22 > 0:00:24of the media group, Time Warner.
0:00:24 > 0:00:27Expectations are high for Easyjet's full year results.
0:00:27 > 0:00:29Has the low cost carrier benefited from its competitors misfortunes
0:00:29 > 0:00:41in what has been a tumultuous year for the industry.
0:00:41 > 0:00:43And on the markets -
0:00:43 > 0:00:46Hang Seng up nearly 1.25% - following big push across Asia
0:00:46 > 0:00:51and that in response to the US.
0:00:51 > 0:00:57Nikkei up as well - carmakers Toyota and Subaru.
0:00:57 > 0:01:02Dow Jones up a third of a percent.
0:01:10 > 0:01:13The US Department of Justice will sue to block a proposed 85
0:01:13 > 0:01:15billion dollar takeover of Time Warner by AT&T.
0:01:15 > 0:01:19Time Warner is the parent company of the cable news network CNN,
0:01:19 > 0:01:21which has been the target of continual criticism
0:01:21 > 0:01:32by President Donald Trump.
0:01:32 > 0:01:35Regulatory concerns around the deal have ramped up in recent months
0:01:35 > 0:01:38and now the US justice department is filing a lawsuit to block
0:01:39 > 0:01:41the merger, saying it violates rules governing fair competition.
0:01:41 > 0:01:47Samira Hussain reports from New York.
0:01:47 > 0:01:52This is a deal that has always made sense for the two companies. AT&T is
0:01:52 > 0:01:58one of America's leaving more -- telecom operators. Owning the news
0:01:58 > 0:02:01and entertainment properties of Time Warner would give it a big
0:02:01 > 0:02:06competitive advantage. Based on President, like Com cast's takeover
0:02:06 > 0:02:12of NBC which went through in 2010, this AT&T merge and looked like it
0:02:12 > 0:02:18would be accepted by regulators. As soon as it was announced in 2016,
0:02:18 > 0:02:21then presidential candidate Donald Trump made it clear that he did not
0:02:21 > 0:02:26like it. Mr Trump has also been quite clear about his deep dislike
0:02:26 > 0:02:31so the news coverage of CNN, which is owned by Time Warner. Responding
0:02:31 > 0:02:36to the news that Mr Trump's Justice Department is going to try to block
0:02:36 > 0:02:42the deal, AT&T's boss did not hold back from the politics of the
0:02:42 > 0:02:46situation.I do want to address the elephant in the room here. There has
0:02:46 > 0:02:50been a load of reporting and speculation whether this is all
0:02:50 > 0:02:54about CNN. And, frankly, I do not know. But nobody should be surprised
0:02:54 > 0:03:02if the question keeps coming up. Because we have witnessed such an
0:03:02 > 0:03:06abrupt change in the application of an anti-trust law here that the
0:03:06 > 0:03:10bottomline is that we cannot and will not be party to any agreement
0:03:10 > 0:03:14that would even be of the perception of compromising the first Amendment
0:03:14 > 0:03:19protection's of the press. So any agreement that results enough for
0:03:19 > 0:03:22orbiting -- forfeiting control of CNN, be that directly or indirectly,
0:03:22 > 0:03:28is a nonstarter.The DOJ denies any suggestion that the deal is being
0:03:28 > 0:03:33blocked because of the President's animosity towards CNN. They say the
0:03:33 > 0:03:39AT&T and Time Warner would simply have too much media power. The
0:03:39 > 0:03:42company is clearly determined to challenge that view.
0:03:42 > 0:03:43EasyJet is reporting full year earnings later.
0:03:44 > 0:03:46Expectations are that the airline will report an uptick in numbers
0:03:47 > 0:03:50The company is looking to expand - having put in offers to buy parts
0:03:50 > 0:03:53of the now defunct AirBerlin and Alitalia airlines.
0:03:53 > 0:03:59It's been aided by the collapse of rival Monarch earlier
0:03:59 > 0:04:01in the year, especially on some key routes
0:04:01 > 0:04:05And of course its main rival Ryanair is dealing with the fallout
0:04:05 > 0:04:06of a disastrous scheduling malfunction that led
0:04:06 > 0:04:12to the cancellation of around 20,000 flights -
0:04:12 > 0:04:14and shaved millions from its bottom line.
0:04:14 > 0:04:17This will be the last time Chief Executive Carolyn McCall
0:04:17 > 0:04:19reports earnings for the airline.
0:04:19 > 0:04:22She finishes the job on December first before taking up a new role
0:04:22 > 0:04:28as CEO of ITV television here in London.
0:04:28 > 0:04:37With me is Oliver Clark, senior reporter at FlightGlobal.
0:04:37 > 0:04:42Thank you very much for joining us. What do you think?I think they will
0:04:42 > 0:04:46post a nice healthy profit. They expect something within the region
0:04:46 > 0:04:51of around $400 million.And what would you put most of that profit
0:04:51 > 0:04:56down to? Is it benefiting from the misfortunes of others? Is it their
0:04:56 > 0:05:04own work?Where is the breakdown? There is a negative impact on in
0:05:04 > 0:05:07currency fluctuation. They expect a higher benefit from lower fuel cost.
0:05:07 > 0:05:12Fuel cost is one thing. Honestly, Monarch is gone and they had been on
0:05:12 > 0:05:19some good routes. We have seen the Ryanair debacle. They have done well
0:05:19 > 0:05:22on their own profits getting through that, but none the less aid yoghurt
0:05:22 > 0:05:26mess for Ryanair and that plays neatly doesn't it?It really helps
0:05:26 > 0:05:34easy to. They said in their expectations for today's profit that
0:05:34 > 0:05:38they are struggling with an impact of yield due to overcapacity in the
0:05:38 > 0:05:43market. Losing one of their competitors in the UK market and
0:05:43 > 0:05:49sets them. The problem is the Ryanair could easily lead to
0:05:49 > 0:05:54passengers choosing to fly to easyJet.But it is not as simple as
0:05:54 > 0:05:59saying Ryanair is on a downward spiral at all. That is not the case.
0:05:59 > 0:06:03Nonetheless, what is it at the thing to do is be on an upward trend. Is
0:06:03 > 0:06:07hoping to grow and die out now, whether that be Alitalia or air
0:06:07 > 0:06:13Berlin.That sends out a clear message. The viewing the industry is
0:06:13 > 0:06:19that consolidation will continue in Europe in the market. EasyJet is
0:06:19 > 0:06:22well-placed to take part in that process because they are a big
0:06:22 > 0:06:27player. They have already put in a bid for Alitalia and that will give
0:06:27 > 0:06:31them more Italian coverage. Air Berlin, they are taking part of its
0:06:31 > 0:06:38operation. They are in a good position.And consolidation is a
0:06:38 > 0:06:42lovely word. It sounds warm and friendly but it does lead to far
0:06:42 > 0:06:47fewer airlines out there. How far will they go, do you think?People
0:06:47 > 0:06:51such as Ryanair's chief executive, they talk about that you will
0:06:51 > 0:06:56probably see three or four big groups in Europe. Love times are,
0:06:56 > 0:07:02Ryanair, easyJet and maybe a couple of others to beat you could easily
0:07:02 > 0:07:07expect more airlines to disappear over the coming months and years.I
0:07:07 > 0:07:11think those figures will be out seven o'clock out I'm so not much
0:07:11 > 0:07:12longer to wait.
0:07:12 > 0:07:15Officials from China and Pakistan are meeting today to discuss
0:07:15 > 0:07:15closer economic ties.
0:07:15 > 0:07:22Let's go to our Asia business hub where Rico Hizon
0:07:22 > 0:07:30Is following this story.Big business and trade. Two countries
0:07:30 > 0:07:36who have been analysed since 1951. Pakistan was one of the first
0:07:36 > 0:07:40nations to recognise China and it goes to show the close relationship
0:07:40 > 0:07:45between the two countries. Trade amounts to almost $13 billion a year
0:07:45 > 0:07:51and most of it is Chinese exports to Pakistan. Pakistan has always --
0:07:51 > 0:07:56also been roped into the one. One Road initiative which sees the
0:07:56 > 0:08:00mainland investing up to $55 billion over the next five years. At Hull
0:08:00 > 0:08:07China's aid towards a hydroelectric dam has been rejected. Is the
0:08:07 > 0:08:14relationship facing challenges? We spoke earlier with an honest it is
0:08:14 > 0:08:18said the issue is a little more Com placated.The situation was a lot
0:08:18 > 0:08:22more nuanced than that. Number one, if you look at the nature of the
0:08:22 > 0:08:25project, the solar projects are always controversial. There are
0:08:25 > 0:08:29issues with the impact on local population and local environments.
0:08:29 > 0:08:35These have been reason enough to derail these project. More
0:08:35 > 0:08:40importantly, this project is specifically occurring on a piece of
0:08:40 > 0:08:46disputed territory between Pakistan and India.And despite some issues,
0:08:46 > 0:08:50the China Pakistan economic corridor will be meeting today to finalise
0:08:50 > 0:08:52long-term plans for economic integration between the two
0:08:52 > 0:09:00countries.Thank you very much Rico. Good to see you.
0:09:00 > 0:09:03Now let's brief you on some other business stories.
0:09:03 > 0:09:06The last big procedural hurdle to the completion of Keystone XL
0:09:06 > 0:09:09pipeline was cleared on Monday - when five members of
0:09:09 > 0:09:11the Nebraska Public Service Commission voted three to two
0:09:11 > 0:09:13to approve an amended route through the state.
0:09:13 > 0:09:17But opponents have promised to tie the project up in court for years
0:09:17 > 0:09:23and TransCanada is still studying its commercial viability.
0:09:23 > 0:09:25Colorado regulators on Monday fined Uber $8.9 million,
0:09:25 > 0:09:27saying the ride-services company allowed 57 people to drive
0:09:28 > 0:09:30for it although they lacked valid driver's licenses or had committed
0:09:31 > 0:09:32other offences that would have disqualified them.
0:09:32 > 0:09:35Uber said it recently discovered an error in its background check
0:09:36 > 0:09:46process and was working to correct the issue.
0:09:46 > 0:09:50And now - what's trending in the business news this morning.
0:09:50 > 0:09:54The Financial Times has the story of how Fed Chair Janet Yellen
0:09:54 > 0:10:00will quit not only her post but also the Fed board
0:10:00 > 0:10:01after Powell is sworn in.
0:10:01 > 0:10:03Bloomberg: Trump administration ends protected immigrant status
0:10:04 > 0:10:09for about 60,000 Haitians living in U.S.
0:10:09 > 0:10:12After 2010 quake and, Broadway is Booming says
0:10:12 > 0:10:17the Wall Street Journal.
0:10:17 > 0:10:24Halfway through the 2017-18 season, ticket sales for shows are up by 18%
0:10:24 > 0:10:25over the previous season.
0:10:25 > 0:10:26And don't forget -
0:10:26 > 0:10:29let's us know what you are spotting online -
0:10:29 > 0:10:32use the hashtag #BBCtheBriefing.
0:10:32 > 0:10:34That's it for Business Briefing this hour.
0:10:34 > 0:10:40But before we go - here are the markets.
0:10:45 > 0:10:51Significant rises across Asia. The Dow Jones is where it started from.
0:10:51 > 0:10:55A rosy outlook at the moment.