:00:00. > :00:00.Now for the latest financial news, with Sally Bundock
:00:00. > :00:20.Microsoft, Amazon and Expedia team up with Washington State in a bid
:00:21. > :00:23.to defeat President Trump's travel ban, saying it is unconstitutional
:00:24. > :00:32.More fines for Deutsche Bank, this time for its connections
:00:33. > :00:42.with a Russian money-laundering plan.
:00:43. > :00:51.Also in the programme: Shares in Sony fall during trade in Tokyo.
:00:52. > :01:01.Technology giants are ramping up their battle against
:01:02. > :01:05.Washington State's attorney-general is filing a lawsuit arguing the ban,
:01:06. > :01:07.which covers seven countries, is unconstitutional.
:01:08. > :01:09.Amazon and Expedia have both made court submissions on how
:01:10. > :01:11.the executive order is impacting their businesses.
:01:12. > :01:14.Microsoft is also backing the lawsuit which aims to overturn
:01:15. > :01:16.the travel ban, and will even testify if needed.
:01:17. > :01:26.Ford's chief executive, Mark Fields, has said we do not support this
:01:27. > :01:29.policy, or any other that goes against our values as a company.
:01:30. > :01:32.Big investment banks including JP Morgan Chase and Goldman Sachs have
:01:33. > :01:44.Marianne Schneider-Petsinger is with the US and the Americas
:01:45. > :01:59.Good to see you. So this is becoming more interesting, isn't it? Now
:02:00. > :02:04.Washington State is going ahead with the legal battle, how will this play
:02:05. > :02:07.out, do you think? It will be interesting to see and we have
:02:08. > :02:15.already seen that Trump takes this very seriously and it will be
:02:16. > :02:18.interesting to see the continued reaction we will see from the
:02:19. > :02:23.business community. As you mentioned, the tech sector has very
:02:24. > :02:28.strongly come out and said they do not support the measures that were
:02:29. > :02:36.implemented. But others, Star Bucks, for example, or Ford, have also come
:02:37. > :02:40.out. I would say it is much more measured, the response you have seen
:02:41. > :02:43.from them. But taking that legal action is stepping up a gear. I
:02:44. > :02:48.suppose it is the only route the likes of Microsoft and others can
:02:49. > :02:52.take in this situation. They can take that route, but overall it is a
:02:53. > :02:56.very fine line to walk. By stepping out like that they draw fire from a
:02:57. > :03:06.president who is known to draw fire on Twitter from -- towards various
:03:07. > :03:09.different companies. So again, it is a very fine line to walk. And for
:03:10. > :03:15.the technology companies like Amazon, Google or Microsoft, key
:03:16. > :03:20.members of staff are really critical to them, aren't they? It is about
:03:21. > :03:24.the innovators, who may not necessarily be home-grown. Yes, for
:03:25. > :03:31.the tech industry in particular, the kind of people with IT degrees or
:03:32. > :03:38.engineering degrees are vital to them. They rely on those skills from
:03:39. > :03:45.abroad. It is also a personal story for any of them. The late founder of
:03:46. > :03:51.Apple, he is the son of Assyrian migrant many of the Microsoft and
:03:52. > :03:56.Google CEO is have Indian roots so it is a very personal story to them
:03:57. > :04:00.as well. And how damaging is all of this to brand America? It is the
:04:01. > :04:05.story which is dominating globally, this particular issue, the ban on
:04:06. > :04:09.travel. I think it does raise questions about the image of the
:04:10. > :04:14.United States, and soft power is a key component of that, and it does
:04:15. > :04:18.raise questions about how the United States is seen abroad as a beacon of
:04:19. > :04:21.talent. Can you really go to the United States regardless of your
:04:22. > :04:25.religion, regardless of where you are coming from, and make it just
:04:26. > :04:34.depending on talent? The other thing is for a brand made in the USA, is
:04:35. > :04:39.that something which is seen as beneficial or if you are producing
:04:40. > :04:47.in the United States is that seen as a detriment? Is that seen as made in
:04:48. > :04:51.America... Great again? We appreciate you coming in and giving
:04:52. > :04:55.us your thoughts on that. As you know, this story is developing and
:04:56. > :04:59.changing all the time and we will keep you right up to date here on
:05:00. > :05:04.the BBC, online, on TV and on radio. But now let's talk about Deutsche
:05:05. > :05:05.Bank. Germany's Deutsche Bank has been hit
:05:06. > :05:08.with hundreds of millions It is all in relation to a Russian
:05:09. > :05:23.money-laundering scheme which netted Tell us more. Hello, Sally. Yes, a
:05:24. > :05:28.fine of $630 million, 430 million dollars going to local authorities,
:05:29. > :05:33.the accusation is that between 2011 and 2015 a group of Deutsche Bank
:05:34. > :05:36.executives based mainly in Moscow and London helped wealthy Russians
:05:37. > :05:42.to send money overseas by arranging stock trades that had no economic
:05:43. > :05:46.purpose other than disguising what the client was doing. These are
:05:47. > :05:49.known as mirror trades. Clients would purchase stocks in rubles in
:05:50. > :05:54.Moscow and at the same time their clients would sell the same stock at
:05:55. > :05:58.the same price of the London office. It is not illegal in itself but
:05:59. > :06:01.according to the US regulator that this is highly suggestive of
:06:02. > :06:07.financial crime. And under the scheme the bank helped clients moved
:06:08. > :06:09.$10 billion out of Russia. Thank you very much indeed. More bad news for
:06:10. > :06:11.Deutsche Bank today. In other news: Japan's central bank
:06:12. > :06:14.has finished its first meeting of the year by leaving
:06:15. > :06:16.interest rates unchanged, but upgraded its forecasts for
:06:17. > :06:19.the world's third-biggest economy. The Bank of Japan cited rising
:06:20. > :06:21.exports, easy lending conditions and stronger government spending
:06:22. > :06:24.ahead of the 2020 Olympics The former Brazilian oil and mining
:06:25. > :06:30.tycoon Eike Batista has been transferred to a high-security
:06:31. > :06:32.prison in Rio de Janeiro after being arrested
:06:33. > :06:34.on arrival from New York. Once Brazil's richest man,
:06:35. > :06:37.he has been accused of paying millions of dollars in bribes
:06:38. > :06:39.to secure contracts Mr Batista has denied
:06:40. > :06:49.any wrongdoing. General Motors and Honda say
:06:50. > :06:51.they will jointly produce hydrogen fuel cell power systems
:06:52. > :06:54.in the US from 2020. The firms say they will invest $85
:06:55. > :06:57.million each to expand a production The firm says the fuel cells
:06:58. > :07:05.could be used in self-driving cars, Shares in Sony fell by as much as 4%
:07:06. > :07:17.during early trade in Tokyo today. Let's head to Rico Hizon
:07:18. > :07:31.is in Singapore. Nice to see you. What is going on
:07:32. > :07:38.with Sony? Well, you know, the bottomline is their lower earnings
:07:39. > :07:44.guidance is battering their stock price in Tokyo, Sally. It is down by
:07:45. > :07:48.4%. A major write-down of its movie business by more than $1 billion
:07:49. > :07:53.from the October to December quarter depressing investors right now and I
:07:54. > :08:01.am sure you have seen some of their major releases such as Ghostbusters,
:08:02. > :08:06.Angry Birds, and the da Vinci Code sequel, Inferno, they failed to
:08:07. > :08:12.ignite cinema-goers in the global box office and Sony is blaming weak
:08:13. > :08:18.profits on online streaming services, which drained demand for
:08:19. > :08:21.movies, DVDs, Blu-ray discs and other home entertainment services.
:08:22. > :08:26.They have always been talking about their turnaround plan and this is
:08:27. > :08:29.also currently not exciting investors. They are planning to
:08:30. > :08:34.strengthen markets outside the US, including India and China, improving
:08:35. > :08:38.intellectual property and offloading non-core businesses, which is not
:08:39. > :08:44.giving the share price boost this point. The company expects releases
:08:45. > :08:51.this year including Spider-Man the Movie, due to be released mid-year,
:08:52. > :08:56.and everyone is waiting for the final numbers of Sony, which will be
:08:57. > :09:00.released on the second of February. We will have to see what the final
:09:01. > :09:05.numbers are. Lovely to see you. Let's see how markets are doing in
:09:06. > :09:10.Asia. This will be a really quiet week for Asia. Australia's open,
:09:11. > :09:15.Japan is open, and we have some of the markets, Malaysia for example.
:09:16. > :09:19.In South Korea is open today. Most of the other markets like China and
:09:20. > :09:24.Hong Kong are close to the Chinese New Year holiday break. Mainland
:09:25. > :09:29.China, no action at all this week. We have some downside on markets.
:09:30. > :09:34.Energy shares are low, the oil price has been falling and in the US we
:09:35. > :09:37.saw some losses. No surprise at all, it is in reaction to this travel ban
:09:38. > :09:42.coming from President Trump, the impact that may have on stocks
:09:43. > :09:46.listed on the main market in the US. That is all for me now. See you