Conservatives win big majority in UK election

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We consider the economic and business implications of the Conservatives' resounding UK election win. The BBC's Rob Young is in Derby in the English east Midlands to gauge business reaction there. Also in the programme, after months of negotiations, the US and China announce a preliminary trade agreement. The so-called phase one deal will see billions of dollars in tariffs removed or delayed. Mary Lovely, a trade economist at the Peterson Institute for International Economics in Washington DC, explains the significance of the deal. Plus, Chris Low of FTN Financial in New York sums up how global markets greeted the news. And the BBC'S Deborah Weitzman tells us why Brits are spending more of their hard earned cash on takeaway food, rather than cooking at home. All this and more discussed with two guests on opposite sides of the Pacific: Tony Nash, chief economist at Complete Intelligence in Houston and Peter Ryan, ABC's Senior Business Correspondent, in Sydney. (Photo: Britain's Prime Minister Boris Johnson on the steps of 10 Downing Street in London. Credit: EPA/VICKIE FLORES)