about that, the financial turmoil continues for turkey. investors are heading for safe—havens and markets in the us and some in asia have been losing ground amid fears turkey's crisis could spill over into the world economy. the turkish lira has been in free fall. it lost even more ground on monday against the us dollar — and in the past year has fallen by more than a0%. turkey's central bank has acted to get more money into the banking system, but has resisted calls to increase the main interest rate which is currently i7.75%. an increase could help attract investors who have taken fright over growing debt and deteriorating relations with the us. as of may, turkey's private companies owe more than $240 billion, and it's this debt that has helped private consumption grow the economy at a pace that many now believe is unsustainable. that means that foreign banks could face big losses if those companies can't repay their debts. spain's bbva is most exposed, with turkey accounting for 13% of its loans. italy's unicredit, the netherlands�

turkey's president erdogan has warned the united states that turkey will look for new friends and allies unless washington reverses a trend of what he calls unilateralism and disrespect. the pharmaceutical giant bayer says its monsanto weedkillers are safe, after a us court ordered it to pay hundreds of millions of dollars in damages to a man who claimed his terminal cancer was caused by glyphosate in the herbicides. and british sprinter dina asher—smith has won her second gold at the european championships, in the women's 200 metre final.

turkey's currencey crisis continues. the white house denies responsibility for the economic turmoil but president erdogan accuses the us of a "stab in the back." good news for football fans in eight south asian countries, as facebook signs a deal allowing subscribers to watch top flight spanish matches for free. investors head towards safe—havens and away from emerging markets, as fears grow turkey's crisis could spill over into the global economy. and president trump signs a new law which strengthens the america's power to review and veto business deals involving foreign firms. a warm welcome to the programme, briefing you on all you need to know in global news, business and sport. vienna has been named as the world's most liveable city, knocking melbourne off top spot. we want to know what important things makes a city liveable for you 7 is it good transport? restaurants? culture, or green spaces? tell us what you think. just use the hashtag #bbcthebriefing. reports from afghanistan say the humanitarian situation is

turkey saying we will nevergive in, and president of turkey saying we will never give in, and mnuchin, the treasury secretary, says they have other measures waiting. and the turkish government will introduce, with the new finance minister, new measures to reduce inflation, which is at about 16% at the moment. these fiscal measures it hopes will work, in terms of at least steadying things. we had a brief respite overnight for the lira. how long that lasts, we don't know. but i think it will have to be somebody coming in between the two backsides to say this is silly, and somehow... 0r to say this is silly, and somehow... or it could be turkey walking up to the imf, captain had. it happened to argentina and they swore it would not happen again. i don't think we are yet they are, with turkey having to go to the imf, but somebody has to go to the imf, but somebody has to break the logjam, and yet these are two to break the logjam, and yet these a re two nato to break the logjam, and yet these are two nato allies. and the interesting thing about turkey, i suppose, is the fact there is so m

story about turkey. this is a war of words between the united states and turkey. it began with the arrest in turkey. it began with the arrest in turkey of an american preacher and it has escalated, donald trump has imposed tariffs on turkey, their currency has now plummeted and the guardian headline is that there are fears of a global prices as turkey fights to halt their sliding currencies. value of the lira has plummeted and this story will will have come out of nowhere, but it is a sign of america's tariffs, their steel and aluminium tariffs that they have placed a different countries and it seems that turkey is one of those that is really struggling. there are other countries as well that are also seeing a slight tumble in their currency in the last 2a hours. turkey is the one where the arguments about what has happened to their economy are being played out ona their economy are being played out on a really huge, global scale. you have the prime minister of turkey saying that he feels like he has been stabbed in the back by donald trump. he will be awake soon

is turkey heading for an economic crisis? it is a question that more and more international investors are asking as the currency tumbles, amid a rapidly worsening financial outlook. and, in the next few hours, the finance minister is set to lay out a plan for what has been termed a new economic model. if one image can lay out the depth of turkey's problems, it is this. over the past year, the lira has sunk more than 40% against the us dollar. the latest nose—dive comes after last week's us sanctions over a jailed pastor. turkey sold the us more than $9 billion of goods last year, but there are concern about turkish companies maintaining their preferntial access to the world's biggest economy. those geopolitical tensions sharpened the focus on president erdogan‘s tightening grip on power, and its impact on the economy. it has since eased expectations by cutting its economic growth target to less than 4%. growing debt levels is a huge problem. a lot of it is held by private companies. as of may, it amounted to more than $24

pastor who is in prison in turkey. that's right. and of course the americans are not sending back to turkey an enemy of erdogan that he wants extradicted. fethullah g len, who he accuses of being involved being in the coup. i do think that what we're seeing with america first is it turns out to be america alone. america is throwing hand grenades around the world to all international organisations, to all previous alliances. nato, explosive, his nato meeting. his attitudes towards europe, quite extraordinarily hostile. it is america with no friends which is a very peculiar way of being first. except saudi arabia and israel. so essentially really nasty regimes, the leaders of really terrible regimes that see themselves... i'm not sure the israeli government considers themself as nasty. i would not include israel. you're talking more about saudi arabia and the philippines. absolutely. these are the friends. and putin. about whom he has been silent, on sanctions. talking about special relatonship, i believe what britain ga

we are exposed to turkey. turkey is a huge economy. it has been buoyant for the last decade. europe is very intertwined with turkey because of trade. and frankly because of refugees. 3.5 million syrian refugees, the biggest summer in the world, and turkey acts as a buffer state for europe, were clearly the political cycle has gotten negative press about letting in further refugees. turkey is helping the eu. thank you very much. let's take a look at some of the other stories making the news. there's more problems on the british high street. the troubled department store, house of fraser, has appointed administrators after giving up the fight to save the business. it's struggled to adapt to the changing retail environment, thanks to the growth of online shopping and high rents for its stores. the company says it will continue trading for now with its stores open today as usual. its fate was sealed earlier this month, when chinese firm c.banner pulled out of a rescue deal that would have brought much—needed investment. ryanair pilots are striking in five european countries, fo

turkey's president denies his country is bankrupt, despite its currency plunging, in a stand—off with the united states. us fighterjets are scrambled after a man steals a passenger plane and performs aerobatics. commentator: schippers chasing down dina asher—smith but making no ground, and dina asher—smith takes the title! and dina does it again — gold. this time in the 200m final at the european championships good evening. the makers of britain's most widely—used weedkiller, roundup, are insisting that it is safe, after?a court in california awarded damages to a man who says it gave him terminal cancer. monsanto says it will appeal the?verdict of the jury, ?which?found the company knew the? herbicide glyphosate was dangerous, but failed to warn consumers. from california, james cook reports. for dewaynejohnson the verdict was bittersweet, to say the least. at 46—years—old, he is dying of cancer, caused — thejury found — by monsa nto‘s weedkillers. thousands more americans claim they too were sickened by the herbicides and their key ingredient, glyphosate. since the

turkey saw some 50,000 arrests overall. on wednesday, president erdogan says the us should read think it's decision. translation: these remarks against us will not benefit anyone. such a threat against turkey is not fitting for them, excuse me but we do not even credit for using such threatening language. the us sanctions apply to turkey's justice minister and the interior minister too, as leaders, says the us, a turkish government organisations responsible for serious human rights abuses. meanwhile, mr brunson remains under arrest, he denies charges of espionage but faces up to 35 years in jail if found guilty. andrew plant, bbc news. president trump has ramped up his invective against the inquiry into russian interference in the 2016 election. for the first time he has called on his attorney general to end it and called the man heading it, robert mueller a ‘disgrace to the usa'. president trump has repeatedly been a vocal critic of this investigation but this is taking it to a new level. i asked our north america corres

markwell and is in istanbul turkey announced it was hiking ta riffs turkey announced it was hiking tariffs drastically on american goods. some of them going up by double in response to the us racing sanctions —— racing sanctions and hiking prices on turkish goods because of their continued detention of that american pastor. there is no sign of this rift easing, every sign that it sign of this rift easing, every sign thatitis sign of this rift easing, every sign that it is deepening. you have two nato allies at its streets and that could have significant region implications. is caught in western turkey today rejected an appeal to release him from house arrest, it will now pass to an upper court, but at the moment there is very little optimism that he will be released. it is very worrying for businesses who have borrowed or brought in port and goods in foreign currency and attractive sell them to turkish lira because it has plunged over a0%. it is worrying for turkish people trying to travel abroad for their summer trying to travel abroad for their summer holidays, where there occurred t

the white house denies responsibility for turkeys currencey crisis. president erdogan accuses the us of a "stab in the back". and the machines taught to diagnose dozens of eye diseases as accurately as doctors. we have a special report. hello. in a tweet, president trump is calling her a "vicious lowlife" and a loser, and white house officials are dismissing her book as the work of a "disgruntled former employee." but former trump adviser omarosa manigault newman has released what she says is a tape of a phone call from the president, expressing surprise and regret at her dismissal last year. she has already accused donald trump of repeatedly using racist language. our north america editor, jon sopel has the story. omarosa manigault newman had zero policy expertise and absolutely no political experience when she was appointed by donald trump to be one of his senior advisers at the white house. but she had been on the apprentice, the reality tv show that he'd hosted. they were the perfect coupling. i like omarosa. omarosa's a good person. she's also bl

"our relations with turkey are not good at this time," he commented. they argue that the extra tariffs were against the rules of the world trade organisation as the rift between the two nato allies deepened. these are the options that turkey has at the moment, an hike which president erdogan sees as the mother of all evils is not likely to happen. he might seek help from the imf, following the example of argentina, but that is not likely either as it will have strings attached and it will be frowned upon in turkey. there is a feeling that the quickest and most efficient step is to ease the tensions with washington, and for that to happen, washington expects an american pastor currently under house arrest in turkey to be released and sent home. otherwise washington warns more sanctions could follow. selin girit, bbc news, istanbul. the saudi—led coalition says it will investigate an attack in yemen which killed at least twenty—nine children. the target was a school bus in saada — a town under the control of houthi rebels, who are backed by iran. f

turkey's president erdogan accuses the united states of trying to bring his country to its knees and warns that he'll look for new allies. an airport ground worker dies after stealing and crashing an empty passenger plane in seattle. and we meet the scientists behind a new type of mosquito net that could save thousands from malaria. hello, and welcome to bbc news. the pharmaceutical company bayer says its monsanto weedkillers are safe. this follows a court ruling ordering them to pay nearly $290 million in damages to a man who became terminally ill after using them. dewaynejohnson, a school groundsman, alleges his cancer was caused by glyphosate in the herbicides. here's our north america correspondent james cook. for dewaynejohnson the verdict was bittersweet, to say the least. at 46 years old, he is dying of cancer, caused — the jury found — by monsa nto‘s weedkillers. thousands more americans claim they too were sickened by the herbicides and their key ingredient, glyphosate. since the beginning of this case, i've received a lot of support, thank you, and a lot of prayers an

turkey saw some 50,000 arrests overall. on wednesday, president erdogan says the us should rethink its decision. translation: these remarks against us will not benefit anyone. such a threat against turkey is not fitting for them, and excuse me, but we do not give them credit for using such threatening language. the us sanctions apply to turkey's justice minister and the interior minister too, as leaders, says the us, of turkish government organisations responsible for serious human rights abuses. meanwhile, mr brunson remains under arrest. he denies charges of espionage, but faces up to 35 years in jail if found guilty. andrew plant, bbc news. lets brief you on other stories in the news today. a ceremony to mark the news today. a ceremony to mark the repatriation from north korea of the repatriation from north korea of the remains of us soldiers killed during the korean war has taken place in hawaii. the us vice president, mike pence, and senior military officers paid their respects. the repatriation process was agreed at t

it adds further pressure to turkey's economy,

what washington expected from turkey is the release of him so he could go back home, but turkey has not given in and wants to use him as a bargaining tool. that is the trigger, as i said, but it's not the cause of this crisis, because this was a crisis coming, actually. there we re was a crisis coming, actually. there were signs of it even before the elections that were held in turkey recently. there is high inflation in turkey, over 15%, high recently. there is high inflation in turkey, over15%, high unemployment, and there is a huge current account deficit. the markets were expecting for a while interest rate hikes to stop and curb the inflation, but that hasn't been coming. the central bank today made announcements, talked about a few measures, but it came short of announcing interest—rate hikes, so that is what markets for opening for but it is predominantly white president of one has been rejecting for many years. —— president erdogan. we need to see a more concrete plan. it is clear the impact that this will be having on ordinary people in turkey. what about the bigger pictu

founded, turkey's very different as an economy. it's a very different as an economy. it's a very particular economy and political situation? politically it's very different. but when we talk about the contagion, it's driven by speculators. when you see the downside in the currency and the negativity, you getjitters across financial markets and nervousness gci’oss financial markets and nervousness across financial markets, that spreads and sparks selling in other currencies, like what we've seen with the south african rand and there's a whole range of other emerging market currencies that are struggling. that's driven by speculators and not necessarily by the fact that the economy in south africa, for example, is the same as the economy in turkey. it's a very different thing and we see the same thing not just with different thing and we see the same thing notjust with the currencies but with the banking stocks. a story connected with this in the new york times is a story on sanctions by the west, spoiling's putin's big parade —�

so that turkey asa conditions of nato's. so that turkey as a nato country wants to buy a missile defence systems from russia and that is also something that the us has bid adamantly opposing that has been adamantly opposing. we heard president erdogan really rallying the turks to support him and he is very popular at home, isn't he? he is quite popular, and at the elections he got aboutjust 50% and the opposition has mobilised quite strongly even though he had all the resources in his hand to continue the election campaign and lots of politicians were in jail. so he is quite popular but his popularity is not absolute. so also to keep in mind but this kind of anti—agonistic relationships with other countries are benefiting both president erdogan and donald trump. so they have been escalating this in relation to their own voters. —— this kind of antagonistic relationship. ryanair pilots are on strike in five european countries, in what is the largest action in a series of protests over pay and work conditions. the 24—h

if not, we could still be buffeted by fears from turkey and beyond. and our list of speaking to me earlier. from what you have heard there, the chinese data coming out later this week will be a big focus for asian investors —— an analyst. but before that, it will be turkey. thanks very much, karishma vaswani. we start with the price of oil, because there are warnings it could be about to rise further, piling more pressure on consumers and businesses around the world. on friday, the international energy agency said a current lull in price rises could be be only temporary as tough new us sanctions on iran loom within weeks. later today the oil producers' cartel opec will release their monthly report, which will be closely watched. so, let's show you some of the details. over the past year, brent crude has soared from around $50 a barrel last august to as much as $80 a barrel. as you can see it has eased back a bit in recent weeks. that's partly down to a deal agreed injune by opec, together with non member russia. they are increasing oil production

a political plot against turkey. as the event continued, he repeated a less—than—thinly—veiled threat to a nato ally, the united states. translation: our response to those who wage a trade war against the whole world and include our country in that — we'll be heading towards new markets and new alliances. despite the tough talk, the lira has continued to weaken. it has fallen 40% so far this year against the us dollar, and as us president donald trump doubled steel and aluminium tariffs last week, the lira dropped almost 20% in a day. relations have been strained since the attempt to overthrow mr erdogan in 2016. and this is the man at the centre of this latest spat the two countries. turkey is holding the american pastor andrew bru nson over suspected links to that failed coup, and the us wants him back. on this, president erdogan remains steadfast. they said, release the pastor, and gave until last wednesday at 6:00pm. if we did not release him, they said they would sanction us. for ordinary turkish people,

let's move on to turkey, and the times have summed this up with the times have summed this up with the british angle, british holiday—makers flocking to 30 as the turmoil escalates, since like a good news put like that. this is the meltdown of the turkish currency because people who have not been following the story, it is like a war of words between the united states and tacky, two nato allies. this comes down to in many ways donald trump's steel and aluminium tariffs, but to actually see it played out in turkey, in the most dramatic sense. the turkish leader is plummeting against the dollar and the pound, and the economy is in turmoil, other things making people and turkey very unhappy, so the finance minister is related to president erdogan and it sounds like the turkish economy is going into free fall at the moment and a lot of that comes off the back of huge infrastructure projects happening at the moment, which meant they have a huge amount of borrowing, except if you are british holiday—maker, you might flock to turkey and have really cheap holiday. painfully cheap holiday!

if more holidaymakers are tempted here, it's a small solace amid turkey's economic woes. when i was here, it took me by surprise that i get so much lira for my euros, but it's great. we can afford even better restaurants than we did already, actually. we liked the middle standard and now tomorrow we will make a reservation for a really nice turkish restaurant. but no such joy for hakim, closing early, and not knowing where his currency will end up tomorrow. turkey's diplomatic fights and its economic decisions may be made above him, but it's he and 80 million others here who are paying the price. mark lowen, bbc news, istanbul. the chinese government has denied that it's operating a network of extra—judicial detention centres to hold mostly muslim ethnic uighurs. china was forced to give a rare public explanation for its handling of the xinjiang region after the united nations heard evidence that up to a million uighurs may be detained. here's our china correspondent stephen mcdonell. the chinese government is making no apologies for the way it is running xinjiang. it h

turkey's tumble continues — the [ire reaches new lows, as the country's finance minister promises an action plan. live from london, that's our top story on monday 13th august. turkey's central bank says it's ready to take all necessary measures to ensure financial stability amid growing tensions with the united states and a mountain of debt held by turkish companies. also in the programme, that worry is spreading around the world with the indian ruppee also hitting a record low against the us dollar, we'll be live in mumbai with the latest. a sea of red on asian shares. and it is a similar start here in european markets. and computers that read your emotions. we'll speak to the company helping some of the world's biggest brands use technology to understand what we feel about their video adverts. donald trump has tweeted that it is great that many harley—davidson owners plan to boycott the firm as a row over tariffs escalates. today we want to know, does it matter where an iconic brand is made? let us know — just use #bbcbizlive. hello and welcome to business live. turkey's econom

if not we could be buffeted from turkey and beyond. let's turn attention to another target of us sanctions — this time iran. it could have a serious impact on oil prices. the oil producers cartel opec publishes the monthly report today and there will be keen interest in what they shake about the tensions. i asked a commodity analyst about the likely impact on prices. it is generally supportive. it is estimated that iran could lose 700,000 to 100 million barrels a day of production. that will tighten supply and that will support prices. on the other hand you have an escalating trade war that could dampen energy demand. you have forces in two directions. one of the key factors is the midterms that the trump administration is looking at. it seems to be determing all of their strategy. how is that impacting their strategy? president trump has wa nted their strategy? president trump has wanted to have a prominent voice on oil prices. he tweeted he reached agreement with the king of saudi arabia to increase production to million barrels a

but in turkey it seems like a personalfight west. but in turkey it seems like a personal fight that trump is begin with erdogan. and also this particular american pastor who is in prison. of course. americans are not sending back to turkey and enemy of erdogan that he wants. someone he involves being in a coup. what we're seeing with america first turned out to be america alone. america is throwing hand grenades around the world to all international organisations, to all previous alliances, nato, explosive his nato meeting. his attitudes towards europe are quite extraordinarily hostile. it is america with no friends which is a very peculiar way of being first. except saudi arabia and israel. so essentially really nasty regimes, the leaders of really terrible regimes are the signs of... i would not include israel. you're talking more about saudi arabia and the philippines. exactly. these are the philippines. exactly. these are the friends that he has made.” believe what britain gained from the special relationship with the united st

mr erdogan said turkey will remain defiant against what he called ‘threats.’ translation: in respect of the pastor here, it is wrong to try to bring turkey to its knees using threats. let me address those in the us again — what a shame. what a shame. you are trading a strategic partner in nato for a pastor. there are 81 million people in this country, the position of those 81 million people in this strategic partnership can't be traded for anything. whatever our stance was to this day, it will remain our stance in the future. we will comply with the law, we never compromised on law and justice to this day and we never will. with me is our europe regional editor, mike sanders. the us and turkey are supposed to be nato allies. they are not behaving like that at the moment. you would not think so. the pastor he is referring to is andrew brunson, a presbyterian minister who has been running a church in turkey for the past 20 years who is on trial in turkey for alleged terrorist offences, supposedly supporting the banned kurdish militia, and also for supporting t

if more holidaymakers are tempted here, it's a small solace amid turkey's economic woes. when i was here, it took me by surprise that i get so much lira for my euros, but it's great. we can afford even better restaurants than we did already, actually. we liked the middle standard and now tomorrow we will make a reservation for a really nice turkish restaurant. but no such joy for hakim, closing early, and not knowing where his currency will end up tomorrow. turkey's diplomatic fights and its economic decisions may be made above him, but it's he and 80 million others here who are paying the price. mark lowen, bbc news, istanbul. the future is looking brighter for more than 500 greyhounds abandoned after a racetrack closed in macau. fears for their safety has been hitting headlines worldwide after asia's only legal dog—racing track closed down last month and the former owners of the track failed to find the dogs new homes. there's also been widespread concern at the conditions the dogs have been kept in. albano martins is the president of macau animal welfare group anima.

it's because of erdogan‘s own policies and his dictatorial hold at this point over turkey. that is a trade war he will win. that is a precarious economy. but a lot of other people are going to lose. maria's point about erdogan using this is that he is going to blame it on trump. and trump is doing the same thing. they want the release of andrew brunson...it plays very well. erdogan‘s son—in—law is the finance minister. we shouldn't lose sight of how damaging it is for allied relations. trump is threatening retaliations against companies in europe that continue to do deals with iran. and he has threatened to put that into practice. that would ruin the relationship with the allies. and european countries are saying, "we will find a way of helping manufacturers get around this, but that will be difficult. you have to come to a consensus about what to do with iran. i wonder how this crisis could have erupted, because the intelligence services must surely exchange their data and their recognition of what goes on in iran. how can the europeans and america be so much at logg

a tightening of monetary policy elsewhere affecting turkey, but also turkey were in trouble before the sanctions, the lira down a few weeks ago considerably, it's a perfect storm for a currency crisis? i think perfect storm for a currency crisis? ithink so, perfect storm for a currency crisis? i think so, the fragility was because a lot of turkish companies with dollar debt and that is something america's booming because of the tax cuts we've seen and it is causing a tightening of financial conditions in other countries, emerging markets in particular and i think this will carry on, notjust turkey but other emerging markets will see stress. thank you trevor. we will get your view on some of the newspaper stories doing the rounds later. still to come: helping those that help others — we'll be talking to an company which is helping community workers find a place to live. you're with business live from bbc news. uk inflation figures released this morning, will be used to determine how much regulated train fares will rise in january next year. joining us now is our business correpsondent

turkey's problems are very much of its own creation. the rupiah and the rupee are at the highest we have seen on record. they are not exposed to turkey and their central banks have credibility. both countries have shored up their currencies, but to further strengthen the currencies, will they raise the cost of borrowing? we hear from bank indonesia today, i think if it was me i would nudge rates up a little bit just if it was me i would nudge rates up a little bitjust to let the market know there are about. you cannot do a lot in an emerging market crisis coupled with the us dollars to stop the rupiah from heading the weaker. but you can stem that flow so it doesn't become the kind of collapse we have seen with the turkish lira. ifi we have seen with the turkish lira. if i was the governor of the bank of indonesia, i would if i was the governor of the bank of indonesia, iwould raise if i was the governor of the bank of indonesia, i would raise rates a little bit. with weakening currencies, economies are caught between a rock and a hard

turkey has become a popular location since the pound weakened in 2016. joe lynam, bbc news. 0ur europe regional editor mike sanders told me more about the escalating tensions between the us and turkey. this story is moving fast. president erdogan has been doing a tour of different regions, and he has upped the ante by saying that if the us carries on the way it is going, denigrating and attacking the turkish currency, then we are preparing to do deals in the national currencies of other countries, including china, russia, iran and ukraine. which is exactly what the americans do not want to hear. and the economic impact on kurtic was mike had us that look? very bad. the turkish lira is plummeting. 0n very bad. the turkish lira is plummeting. on friday at one point it had lost up to 20% of its value. it would now cost you six lira to buy $1. a year ago you would have got to change from four lira, so it is very bad certainly for cosmopolitan people who want foreign travel, bad for forms cosmopolitan people who want foreign travel, bad forforms buying in for

turkey's diplomatic fights and the economic decisions may be made above him. but it is he and 80 million others here who are paying the price. the convicted rapist john worboys has been questioned about new allegations of sexual assault. he remains in prison after the high court overturned a parole board decision earlier this year to release him. the bbc understands that worboys was interviewed under caution last month. artificial intelligence could diagnose eye disease as accurately as some of the world's leading experts. researchers at the moorfields eye hospital in london have trained a machine to read complex eye scans and detect more than 50 types of disease. doctors say the technology could prevent irreversible sight loss by ensuring that patients with the most serious eye conditions receive early treatment. our medical correspondent fergus walsh reports. on the brink of going blind, elaine's sight was saved by doctors at moorfields hospital. this scan showed she needed urgent treatment. there's a growth of abnormal blood vessels under the retina... now,

could this spread beyond turkey? yes, one of the interesting things about turkey is it has a significant amount of debt for companies and for its government denominated in foreign currency, so that makes it more expensive to repay. we that makes it more expensive to re pay. we have that makes it more expensive to repay. we have seen that the south african rand has declined as well and the fear is that this sort of problem that we're seeing in turkey could spread beyond its border. there is another issue, that is many european lenders have exposure to turkey and there are concern that those banks might be hurt if this crisis worsens and we have seen the classic investor response to fear. we have seen them pouring money into safe haven currencies like the us dollar and we will see if this continues, but again so far it seems to be contained within turkey. the fear is what happens if this crisis isn't contained. thank you very much. we have been talking about the high street and normally they benefit from warm weather.

turkey leads in the financial times. some people would say its economic crisis, which it blames america on, isn't for us to worry about, it's tu rkey‘s isn't for us to worry about, it's turkey's problem, giving us cheaper holidays. it can affect all of us, and the crisis is deepening, and president erdogan seems to be in a state of denial. why? he thinks it's going to sort itself out, he doesn't wa nt to going to sort itself out, he doesn't want to raise interest rates, which he should do to stop the plunging currency. it's great if you are going on holiday in turkey, but it's down 40% against the dollar since the beginning of the year, which is some slight. this is largely because of the tariffs imposed by america. and a huge number of corporate and companies in turkey have dollar—denominated debt, which they have to pay back. his short—term debt and its costing them a lot of money to repay that, and it's causing a great deal of nervousness and, of course, the stand—off with trump, who was friendly with erdogan

was a political plot against turkey. as the event continues, he repeated a less tha n the event continues, he repeated a less than thinly veiled threat to a nato ally, the united states. translation: our response to those who wager a trade war against the whole world and include our country in that we'll be heading towards new markets and new alliances. despite the tough talk, the lira has continued to weaken. it's fallen 40% so continued to weaken. it's fallen 40% so far this year against the us dollar. and as us president donald trump doubled steel and aluminium tariffs last week, the lira dropped almost 20% ina last week, the lira dropped almost 20% in a day. relations have been strained since the attempt to overthrow mr erdogan in 2016. this is the man at the centre of this latest spat the two countries, turkey's holding the american pastor andrew bronson over suspected links to that failed coup and the us wants him back. on this, president erdogan remains stead fast. they said released the pastor and gave until last

also in the programme: turkey's president erdogan accuses the us of a "stab in the back" as the country's currency crisis deepens. facebook subscribers in eight south asian countries will now be able to watch top—flight spanish football matches for free. we're live in san francisco with the latest. live from our studios in singapore and london, this is bbc world news — it's newsday. good morning. it's 8am in singapore, 1am in london and two in the morning in geneva where a senior chinese government official has strongly denied allegations that a million muslim uighurs are being held in detention centres in shinjiang province. beijing says reports of the centres are completely false. it said uighurs enjoyed full rights and so called ‘re—education‘ camps did not exist. translation: the argument that 1 million uighurs are detained in re—education centres is completely untrue. on the freedom of religious belief, xinjiang guarantees citizens freedom of religious belief in accordance with the law and protects normal religious activities. that strong denialfrom china came despite a u

the president of turkey insists his country is not going bankrupt, despite what he calls its economic war with the united states. also coming up — the art of stone stacking. but does piling stones on our beaches spoil the environment, or is it harmless artistic expression? and britain secure gold and silver in the men's bmx final at the european championships. with that and more on the day's sport, we'll have sportsday at 7:30. the manufacturers of britain's most widely—used weed killer — roundup — are insisting that it is safe after an american court awarded damages to a man who says it gave him terminal cancer. the jury in california decided that the us agro—chemical company monsanto knew the herbicide glyphosate was dangerous, but failed to warn consumers. the man was awarded a quarter of a billion dollars‘ worth of damages, but the company insists the product does not pose a risk to health. from california, james cook reports. for dewaynejohnson, the verdict was bittersweet, to say the least. at 46 years old, he is dying of cancer, caused, the jury found, by monsa nto�

if more holidaymakers are tempted here, it's a small solace amid turkey's economic woes. when i was here, it took me by surprise that i get so much lira for my euros, but it's great. we can afford even better restaurants than we did already, actually. we liked the middle standard and now tomorrow we will make a reservation for a really nice turkish restaurant. but no such joy for hakim, closing early, and not knowing where his currency will end up tomorrow. turkey's diplomatic fights and its economic decisions may be made above him, but it's he and 80 million others here who are paying the price. mark lowen, bbc news, istanbul. a former adviser to donald trump has released what she says is a tape of a phone call from the president expressing what she says is a tape of a phone call from the president expressing surprise at her dismissal last year. omarosa manigault newman, who is publishing a memoir tomorrow, has already accused the president of using racist language. but in a tweet, president trump has called her a lowlife and the white house has dismissed the book as the

i think president trump's change of approach to turkey is actually a welcome change to the us—turkey relationship after the turks have started to undermine the united states in syria and complicated the us effort to fight the islamic state, purchasing hi—tech weaponry from the russians, the list goes on and on and on. i do think, however, at the imposition of ta riffs think, however, at the imposition of tariffs on turkish steel and aluminium last friday just tariffs on turkish steel and aluminium last fridayjust as the lira was sliding was perhaps ill timed and somewhat a function of president trump's view of the world that he is going to exact as we say a pound of flesh from president erdogan. and from day to's point of view, this is pretty disastrous, isn't it, to have two key allies not that war with each other but certainly economic water and a war of words with each other? of course, no—one wants to see a rift in they can but one that's to wonder whether turkey is committed to the atlantic alliance in the first place. there are enormous changes going on in turkey, turkey is

with turkey and particularly with china. the chinese are on their way to washington. there are going to be talks in washington, stryker. is this a sign that the chinese are looking to try and sue for peace in this conflict over trade war and the use of trade sanctions? everybody wants this to be over and done with. there may be just one exception to that who is living in the white house! steve mnuchin has been highly involved in a lot of these trade negotiations. he is very much a kind of odd man out in the white house. there were a number of goldman sachs figures that came in in the beginning. he was a wholly-owned subsidiary of goldman sachs for a while! that's right, white house llp. barack obama had his fair share of goldman sachs ex—employees, but i ta ke of goldman sachs ex—employees, but i take your point. and he has been spending half his time recently on this, because this is a directive thatis this, because this is a directive that is coming from the white house. yes, but he's also trying to hold back trump's worst instincts on trade. that is a difficult