:00:00. > :00:20.Mining giants battle to contain what could be Brazil's worst
:00:21. > :00:38.The US and China square up at the APEC summit in Manila.
:00:39. > :00:43.Also in the programme: No new stimulus
:00:44. > :00:53.from the Bank of Japan, so how will the economy crawl out of recession?
:00:54. > :00:56.We start in south-eastern Brazil, at the scene of one of the country's
:00:57. > :01:00.President Dilma Rousseff has compared it to BP's Gulf of Mexico
:01:01. > :01:04.At least 11 people died, up to 15 are still missing and hundreds lost
:01:05. > :01:07.their homes on November fifth, when a dam at an iron ore mine burst,
:01:08. > :01:14.unleashing an avalanche of mud and mining waste over 500 kilometres.
:01:15. > :01:17.Samarco, the firm which operates the mine, is now racing to repair
:01:18. > :01:20.two more dams that were damaged and stop a further collapse.
:01:21. > :01:23.Its owners are the world's biggest mining firm
:01:24. > :01:31.They have agreed to set up an initial emergency fund
:01:32. > :01:34.The BBC's Daniel Gallas has been to the town of Mariana,
:01:35. > :01:46.This man looks at what is left from his hole in the neighbourhood he
:01:47. > :01:51.helped build. This used to be his house and his bar, where local
:01:52. > :01:58.residents hung out. Within minutes everything was entirely washed away
:01:59. > :02:03.by mud. This was a happy, quiet community, but after the accident
:02:04. > :02:07.everything was taken over by mud. The only thing is still standing are
:02:08. > :02:15.the top floors of that school over there and that church across the
:02:16. > :02:21.other side. About 500 people are the victims of the worst environmental
:02:22. > :02:28.disaster to hit this part of Brazil. Two Vale operated by Samarco first
:02:29. > :02:34.and flooded everything beneath with a mind full of chemical components.
:02:35. > :02:41.Families have been relocated to temporary homes in hotels. The
:02:42. > :02:44.causes of the accident are still unknown of local residents are angry
:02:45. > :02:50.with the mining companies. TRANSLATION: This was not caused by
:02:51. > :02:53.God, this was caused by humans. I hope to get some sort of
:02:54. > :03:00.compensation. It will be on their consciences if this mining company
:03:01. > :03:03.does not pay back. Despite the anger the town depends on mining
:03:04. > :03:10.companies, which accounts for 80% of the local economy. The Mayor wants
:03:11. > :03:13.Samarco and BHP Billiton to pay for the damage he believes was caused by
:03:14. > :03:18.them, but he does not want mining to stop. TRANSLATION: Agro one employs
:03:19. > :03:23.8000 people directly and another two indirectly. -- Samarco employs. If
:03:24. > :03:28.they stop whining here our problems will be far greater. The company has
:03:29. > :03:32.halted all operations until January three. Nobody knows what will happen
:03:33. > :03:38.after that. In a statement, Samarco said it would not comment on the
:03:39. > :03:42.cause of the accident. The spokesperson agreed to only speak
:03:43. > :03:45.about the emergency help they were providing. We will move people from
:03:46. > :03:52.the temporary accommodation to houses. They will be fully furnished
:03:53. > :03:57.houses, so that people can stay there for the required amount of
:03:58. > :04:01.time until we can work out a final solution. As the town tries to move
:04:02. > :04:07.on from this tragedy, authorities and the mining companies Samarco and
:04:08. > :04:11.BHP Billiton still have many questions to answer. What exactly
:04:12. > :04:18.caused the accident and can they make sure this never happens again?
:04:19. > :04:23.There's more on that story on our website.
:04:24. > :04:25.To the Philippine capital Manila now, where leaders are
:04:26. > :04:30.wrapping up the annual Asia Pacific Economic Cooperation summit.
:04:31. > :04:33.APEC's members include huge economies like the United States,
:04:34. > :04:43.China, Japan, and South Korea, as well as the likes of Indonesia,
:04:44. > :04:45.Vietnam and Malaysia, between them they account
:04:46. > :04:49.The organisation is meant to promote unity over trade issues, but
:04:50. > :04:52.the summit has been characterised by growing rivalry between
:04:53. > :04:57.these two big hitters, the US and China, over regional influence.
:04:58. > :05:00.There has been tension over territorial disputes in the South
:05:01. > :05:04.China Sea, with the US announcing aid for its allies in the region.
:05:05. > :05:06.The US-led Trans-Pacific Partnership trade deal has also raised tensions
:05:07. > :05:08.with China which is excluded and is pursuing
:05:09. > :05:23.The BBC's Rupert Wingfield-Hayes is in Manila.
:05:24. > :07:30.Over to Singapore. From the bank of Japan we had no stimulus news, which
:07:31. > :07:33.was expected. But given that recent news about Japan being back in
:07:34. > :07:37.recession, we wonder how the economy will call out of the place.
:07:38. > :07:44.Absolutely. You have pretty much said it. The bank of Japan retaining
:07:45. > :07:48.its current pace of stimulus, insisting an economic recovery is in
:07:49. > :07:53.sight, despite what you mentioned, the challenging business conditions.
:07:54. > :07:55.And coming just days after third-quarter data showed the
:07:56. > :08:02.country splitting into its fourth recession. The bank of Japan says it
:08:03. > :08:08.will increase cash and deposits at an annual pace. Data out of the
:08:09. > :08:13.region today hasn't been positive. The exports posting their first
:08:14. > :08:18.year-on-year decline in more than one year. The latest figures really
:08:19. > :08:22.an illustration of the week external demand, brought on by China's
:08:23. > :08:27.slowing growth. There was a survey of over 200 companies in China
:08:28. > :08:33.listed on the stock exchanges that came out earlier. That reiterated
:08:34. > :08:39.the view. A Chinese business indicator fell over 10% this month,
:08:40. > :08:43.to just below the 15th threshold needed to indicate optimism. So, all
:08:44. > :08:45.of that still having an impact on countries in the region, especially
:08:46. > :09:01.Japan. OK. Thank you very much. That would make it the biggest
:09:02. > :09:08.ever seen in the drugs industry. Bloomberg says an agreement could
:09:09. > :09:11.be announced as early as Monday. It comes despite the US Treasury's
:09:12. > :09:13.plans to clamp down on so called tax "inversions",
:09:14. > :09:16.where a big US firm buys a smaller foreign rival then moves
:09:17. > :09:22.its headquarters to avoid US tax The US Federal Reserve has given
:09:23. > :09:25.a strong hint it could raise Minutes of the Fed's October meeting
:09:26. > :09:30.showed most officials felt conditions for a rate hike
:09:31. > :09:34.could well be met by the time of the next meeting, which tales place
:09:35. > :09:42.on the 15th and 16th of December. They also said
:09:43. > :09:46.the US financial system seems to have weathered recent turbulence in
:09:47. > :09:56.global financial markets without Well, we don't have any signs of
:09:57. > :10:02.that today in Asia. This is how things are going. Japan is up by
:10:03. > :10:07.1.3%. Hong Kong up by a similar amount. Oil prices trading at a
:10:08. > :10:11.three-month low, it was US stockpiles are gathering. They are
:10:12. > :10:17.basically climbing and expanding for an eight week in a row at the -- in
:10:18. > :10:22.a row. The world's biggest consumer of oil. You can see a strong close
:10:23. > :10:32.following those minutes' release. The result of a strike ballot of
:10:33. > :10:35.junior doctors in England, to be announced this morning, is widely
:10:36. > :10:40.expected to support industrial Labour has urged the Prime
:10:41. > :10:43.Minister to call in the independent