The worlds biggest economy. Also, the very latest on the markets. Bitcoin took a bit of a hammering overnight. Elsewhere, spanish stocks weighing down, banks leading the charge lower after separatists claimed the narrow victory. And well be getting the inside track with our Business Editor, simon jack. Taking a look back on a week in which the Oil Giant Shell faces major allegations of corruption. And, first we had the plastic bag charge, but how about the plastic bottle charge . Mps are calling for a introduction of a deposit scheme in an attempt to protect the seas from plastic pollution. What do you think . Just use the hashtag bbcbizlive. Hello, and welcome to business live. We start in the spanish region of catalonia, where separatists have won a crucial election victory in a poll that Prime MinisterMariano Rajoy had hoped would see off the crisis. Instead, it has made it worse, plunging one of europes biggest economies into further uncertainty. Catalonia is hugely important for spain it represents a fifth of the national economy. 19 . Spain was one of europes biggest casualties following the financial crisis ten years ago. The country has made a solid recovery in the last couple of years, but over 17 of the workforce is still unemployed. Only greece has a higherjobless rate in the eurozone. Businesses certainly havent hung about waiting for the result. Almost 3,000 firms have moved their legal headquarters out of catalonia, including the regions biggest banks, caixabank and sabadell. Rachel. Joining us now from barcelona is professor samer ajour. Thank you forjoining us. Very much the aim for many in these elections was to try and clear up the situation, but it seems to have increased the confusion. Right, first of all, good morning to eve ryo ne first of all, good morning to everyone from barcelona. In fact, we had a very hard day yesterday. We we re had a very hard day yesterday. We were expecting a bit more of a different lets say election a nswe is , different lets say election answers, but it seems that its going to be a little bit complicated because, as youve realised, the elections went in a different way, and now its going to be blocked again if they dont seek a coalition, because the only thing that investors really want here is a little bit of stability. And if were going to have again this block, were not going to have stability again. Thats a major concern right now for the whole economy. And its one of the biggest economic elements in spain. So if were going to have this problem again for the upcoming six months, im not going to be passed mystic, but im not c and light at the end of the tunnel. We were talking about investors, businesses, looking for stability, they havent received any certainty today. Moving forward, what damage is this doing to the day to day economy in catalonia, and asa day to day economy in catalonia, and as a consequence to spains economy . The thing is, catalonia and spain to rely so much on each other because basically its really simple, because they dont have a lot of resources , because they dont have a lot of resources, you see. So the lack of resources , we resources, you see. So the lack of resources, we do need to have stability. Which means that if were depending so much on the service sector, if were lacking this sector, if were lacking this sector, then where lacking investors, Foreign Investors or locals, theyre going to add additional, you know, risk category on the whole portfolio, and thats going through quite a bit of risk compensation. So anyone who wants to invest here, any company that wants to proceed with the business in catalonia, but acquire a little bit more of this additional risk that were having currently because of the political situation. This additional compensation is a bit, you know, hard to attain. Because we have a lot of conditions than the rest of spain. Thats why weve been having a lot of Companies Going to the rest of spain. So whenever we have around 3000. The rest of spain. So whenever we have around 3000. Professor samer have around 3000. Professor samer ajour, were going to have to leave it there. Thank you forjoining us from barcelona. Lets take a look at some of the other stories making the news. A south korean court has sentenced the 95 year old founder of lotte group to four years in prison for embezzlement. Shin kyuk ho was indicted last year, along with three members of his family, on charges including tax evasion and fraud. His son and successor, shin dong bin, was given a suspended 20 month prison. Lotte group is south koreas fifth largest conglomerate. The us congress has passed a short term funding bill to keep the federal government running for four more weeks just a day before funding was due to expire. Without the budget deal, Us Government departments would have been forced to shut down this weekend. The executive chairman of alphabet, thats googles parent company, is to step down injanuary. Eric schmidt, who has been with the tech giant since 2001, will remain on the board as a technical adviser on science and technology issues. Alphabet said it appoints to it expects to appoint a replacement later this year. Lets check in with the markets. China stocks dipped on friday as weakness in banking and consumer stocks offset gains in the energy sector, but the indexes were up for the week. Asian stocks more generally edged up though on new data pointing to steady growth in the us economy. Over in europe, investors are digesting the news of the catalan separatist victory and its the euro thats the focus. Although at this time of year were seeing pretty thin trading, many have clocked off and closed up their investment positions ahead of christmas. Some speculators appeared to have sold the euro already. The overall impact of the catalan vote on the euro and the wider Global Markets is likely to be limited, however. Catalonia cannot become a sovereign state if no other country recognises its independence. It wont even be able to have its own currency under such conditions. Lets head over to the states now. Yogita limaye has the details about whats ahead on wall street today. It is the last day of trading before the long christmas weekend and there is a whole lot of Economic Data coming out. The Federal Reserve will be watching closely for an inflation measure that it likes to look at when making decisions, the personal consumption expenditures price index. It factors in prices paid by consumers here in the us for goods and services, but without the volatility of food and energy costs. This rate is expected to have gone up by 0. 1 in november. The Us Commerce Department will release the number of new homes that have been sold last month and that is likely to have fallen compared to october. Investors will also find out how demand for capital goods made in the us is faring and that is expected to have risen. Ago, it would nothavenjanegsxgtl are ago, it would nothuvenjonegsmgfl a its good at the moment, its good news. Low interest at the moment, its good news. Low i nterest rates have at the moment, its good news. Low Interest Rates have been contributing to this, and the cheap money in the markets. But those are starting to change. Moving into 2018, will we continue to see these big games, or is it time for the markets to calm down a little bit . |j think markets to calm down a little bit . think we will see a coming down of the markets. The emerging markets delivered more than 30 , incredible game. We wont see a continuation of that in 2018. Growth is accelerating, if anything. That in 2018. Growth is accelerating, ifanything. Us that in 2018. Growth is accelerating, if anything. Us tax cuts coming in, maybe more Infrastructure Spending in the us, and Global Growth is looking strong so games will continue but not at the levels we have seen this year. Investment managers have got to put the money somewhere. If you have a pension fund and youre given the money to invest somewhere, they have to put it somewhere. The alternative is at the moment dont look great. Is that why the equity markets have been stronger silly if you look at government bonds, here in the uk they are incredibly expensive, investors dont like the returns, equities look much more interesting. Generally, investors havent enjoyed the last nine years of equity markets going up, not everyone has enjoyed this raise. Investors are now starting to believe there are gains ahead, good news. They still get bonuses, dont they . I think they have been enjoying it a little bit what will you be focusing on next year . Politics is always front and centre, but what happens in 2019 is going to fascinate investors. When does the us economy start to turn down towards a recession into 2019 . That is going to be a theme. And brexit as well. Shaun cummings you will be back to look at the papers at the end of the programme. Still to come. Well be getting the inside track with our Business Editor, simonjack. Taking a look back on a week in which the Oil Giant Shell faces major allegations of corruption. Youre with business live from bbc news. Are you prepared for christmas dinner . Lots of us still arent. Im not, weve got them coming over after my shift finishes and weve still got some shopping to do. Today is expected to be the busiest day of the year for food and drink sales as we stock up for the big day. Ben thompson is at a supermarket in east london, where the doors opened bright and early. He has managed to turn work into leisure that doesnt look like you, ben there you are i love your jumper thank you but how dare you say that this is leisure, ive got a big list of things to pick up and bring back for you guys, you should see the state of my trolley. Really busy 48 hour as for the supermarkets. We are expected to spend a staggering £1. 5 billion over the next two days as we stock up on all of that food and drink before the big day. And the supermarkets are the big day. And the supermarkets a re clearly the big day. And the supermarkets are clearly gearing up. Prices are bit higher than this time last year. Weve talked a lot about inflation, but sales expected to be up on last year. But sales expected to be up on last yea r. Let but sales expected to be up on last year. Let me introduce you to jenniferfrom morrisons. How would you prepare for this and make sure youve got the right stuff on the right charles tapper right time was but its a really busy time of the year and were doing everything we can to prepare. We are due to sell nearly twice this week as we would ina nearly twice this week as we would in a normal week. Nearly twice this week as we would in a normalweek. It nearly twice this week as we would in a normal week. It is a big logistical challenge. We have 1000 lorries on the road delivering stock to our stores and a new online stock ordering system that we are able to use to make sure that we have the right stock on the right charles at the right time. It is all hands on deck. Everyone from head office is in the stores to support us. Its pretty stressful for you guys and also for the customers. It is, it is stressful for customers so we are doing everything we can. Customers have said that they often forget a key item on Christmas Eve, they go home and they forgotten it. Cranberry sauce, sellotape, batteries for toys. Weve got a numberof batteries for toys. Weve got a number of things batteries for toys. Weve got a numberof things in batteries for toys. Weve got a number of things in stores to help. Fiona, on the back of her t shirt, she has a list of the ten most commonly forgotten items. Fiona, show us the list. These are the things that people have forgotten. Batteries, tinfoil, sticky tape, cranberry sauce, napkins, bread sauce, stuffing, christmas crackers, all sorts of things. Nice to see you, jennifer, thank you. Ive got my shopping and a0 saw a huge list for you. Ill see you in the new year, have a great christmas youre watching business live. Our top story catalan separatist parties have won a majority in regional elections, setting the stage for more confrontation with spains government. The vote is a major setback for the spanish Prime Minister, who called this election in response to octobers disputed referendum. Plenty more on that story. At the moment, weve not really seen markets move, although weve seen a little bit of the quotation when it comes to the ibex, and the euro is headed slightly lower against the dollar a bit of degradation. And now lets get the inside track on some of the other business stories making the headlines this week. One thats seen donald trump emerge victorious with his huge tax reform bill, and weve seen shell in the headlines over its actions in nigeria. To discuss this, were nowjoined by our Business Editor simonjack. What is the most important story this year . It is hard to beat the donald trump tax reforms. The implications for the rest of the world really profound. The Corporation Tax cut from 35 and 21 . That will increase some of their earnings by 20 30 . It obviously had criticisms that it was a tax cut for multinationals. There will be Tax Implications for individuals and middle income families, but those tax reforms will be tailored off in 2025, but for the Corporation Tax, it is permanent. If you are going to put rocket fuel in the wells biggest economy when it is already growing at 4 , the question is, is that putting a bit too much gas in the tank . We use the global inflation picked up a little bit. You have seen oil inflation, said the risk is that global inflation picks up a little bit. China and the eurozone are growing well, the us will have a spurt. Does that mean the Federal Reserve has to start raising rates faster than it previously did . Will bonds look vulnerable and stock markets look vulnerable . A lot of people are thinking the stock market as it is is price point to perfection. Everything has to go right. I have seen some people say that sometimes the travelling is better than getting there. Maybe use will see a bit of a wobble in the stock market. The donald trump tax reform is the biggest thing to happen to the global economy. The other thing is they will have one off tax on overseas profits for us firms. So the likes of apple and google who have got hundreds of billions of dollars sitting offshore in places like ireland and bermuda, they will get tax anyway, so you may as well bring the money back and there will bea bring the money back and there will be a wall of cash hitting the us. The other huge story is being called the biggest corporate bribery trial of all time. Were talking about the decision by italian authorities to try shell and eni over a nigerian oil dealfrom 2011. What do they stand accused of . In 2011 shall and eni but this giant oilfield in nigeria for 1. 1 billion. The money ended up in the pocket of a former oil minister, and the allegation is he used that money to pay for bribes. Shell and eni a lwa ys to pay for bribes. Shell and eni always maintained they left it at the door of the nigerian government. The point is they are saying they knew that this money would end up in the wrong hands. Usually these cases are settled and this one has not been settled. Both shell and eni, the current chief executive of the oil giant eni, the current chief executive of the oilgiant eni, and the current chief executive of the oil giant eni, and the former number two of shell will go to trial in italy and it is very rare that you see that. That goes to court on march the 5th, probably the biggest corporate corruption and prosecution in history. Corporate corruption and prosecution in history. The nigerian people lost out on over 1 billion dollars, equivalent to the countrys entire health budget. When you do business in certain parts of the world there are some risks. It is a fact of life sometimes. Corruption is seen as pretty stubborn in nigeria. Anti corruption campaigners will say the real losers in all of this are the real losers in all of this are the people of nigeria because this oil wealth should go into the government coffers and that should make its way to public services, it does not, it ends up in peoples Bank Accounts and that is the problem. Simon jack, thank you very much and a very Merry Christmas to you. For many people in asean about of singing is not seem as bad or good ona singing is not seem as bad or good on a night out. At least a Dozen Companies are rolling out karaoke tv or karaoke booths in which many locations. Singing. Here i am in a beijing Shopping Centre and suddenly i feel the need to express myself in song. Well, it is a good thing that karaoke here has busted out of the singing dens and into the mall. Like so much else in china you scan and pay with your phone, choose a song and you are away. Fly me to the moon and let me play upon the stars. Let me see what spring is like on. Some will see this and think there is no way i am going to belt out my favourite song in public for all to see and hear. But for plenty of people in china that is not a problem. There are already tens of thousands of these booths in place. It is projected that within five years there will be hundreds of thousands. They are very quiet, i think they need to turn up the volume, give it some welly, girls a story we have been seeing tweets about today and thatis been seeing tweets about today and that is plastic pollution. A suggestion that mps are saying that we should pay a deposit for plastic bottles in an attempt to protect the seas. A few other ideas as well. We have been asking for your thoughts. Dan martin said the plastic carrier bag tax has made a difference, so why not bottles . Maybe a cashback for proper recycling would offset and help. Some saying charge a deposit on glass bottles and viewers in the uk will remember we used to have glass bottles and you would bring them back to the supermarket and get some money back. A lot of people calling for that. What do you think about this . Do you use a plastic bottles . Yes, i do. It would be great if they had public water fountains to fill bottles up. And there is the influence of the blue planet. The big Nature Documentary running on the bbc which carried strong visual footage of the Plastic Waste in th