tv BBC Business Live BBC News March 6, 2019 8:30am-9:01am GMT
you're watching bbc news at nine with me, annita mcveigh. the headlines: the home secretary meets police chiefs to discuss knife crime — as one of the country's most senior this is business live from bbc news officers warns it should be treated with sally bundock and ben thompson. as a national emergency. europe's top trade official is in washington, on a mission to head off crippling it is an emergency, and it needs some emergency funding. new us tariffs. we need to have more officer live from london, that's our top hours on the streets. story on wednesday 6th march. mps are promised a vote on any changes to workers' rights after brexit, as theresa may seeks support for her eu withdrawal deal. the us singer r kelly denies allegations of sexual abuse in an interview on american television. avoiding steep us tariffs how stupid would it be for me to, on europe's car exports will be with my crazy past the top priority for the eu's and what i've been through, "oh, right now ijust think trade commissioner, i need to be a monster cecilia malmstrom, as she meets her and hold girls against their will"?! lost in the wilderness — us counterpart in washington. also in the programme... ghosn home but with conditions. former nissan boss carlos ghosn — in the blue cap — is finally released on bail,
after three months in detention in tokyo. financial markets are looking for direction today with no new news about deals on a trade with and china. about deals on a trade with and china. also on the programme... tapping into a near aobn dollar market. why natural remedies and health supplements are booming. we meet the boss of one firm making wellness work. how about trainers on the trading floor? or jeans on the job? as one big investment bank scraps its dress code for staff, we want to know is a flexible dress code good for business? let us know, use the hashtag bbc biz live. hello and welcome to business live. once again our focus is once again ourfocus is on once again our focus is on trade, but this time between the eu and the us. eu trade commissioner cecilia malmstrom is in
washington for talks with us trade representative robert lighthizer, as she tries to head off crippling new us tariffs. the european commission, which handles negotiations on behalf of the eu's 28 member states, is keen to reach a swift, limited deal on trade in industrial goods, excluding the tricky area of agriculture. brussels wants to resolve the issue of us tariffs on steel and aluminium and avert potential tariffs of up to 25% on european cars and auto parts. donald trump renewed his threat to impose them last month after a truce agreed injuly. the us president last month received a confidential us commerce department report which is widely thought to conclude that vehicle imports pose a national security threat. he has 90 days to decide whether to act on it. the impact of us tariffs on germany's key motor industry could be devastating,
with vehicle exports to the us plunging by an estimated 50%. the eu has promised a quick and effective response, if washington now goes ahead with them. marianne schneider—petsinger is a fellow at us and americas programme at the foreign affairs think tank chatham house. good morning. sally running through the detail, but this has been going on sincejuly of last year and we are still no closer to getting a form of trade talks. these are the preliminaries. injuly form of trade talks. these are the preliminaries. in july president trump and the european commission presidentjean—claude juncker reached a truce to talk, but formal negotiations have not happened for two reasons. one is that both sides have a mandate and the european commission has released a draft made to european member states and that could happen later this month. the
same in the united states permit side, they have initiated a process that, so they are in a position to launch negotiations. the second aspect is doing those exercises that they conducted, both sides have not been able to come to an agreement of what they want to include in trade negotiations. agriculture is a key point. but if agriculture is not m, as the europeans want, the trade talks could be dead before they even get started. there is so much internal division about what is and is not included, but the pace at which their negotiations are happening. france icn, hang on, we need adelaide to work at what we want. with that internal division you can see why it is taking so long. there is a question of what the e long. there is a question of what theeu long. there is a question of what the e u want to speak with one voice
about. we have to see if they will ove i’co m e about. we have to see if they will overcome the internal divisions. germany is much more interested in striking a deal to keep the car ta riffs striking a deal to keep the car tariffs at bay, but france is much more interested in making sure that the eu does not negotiate with its head against the wall. clearly carmaking and auto production is one of the really big issues, but agriculture is one that both sides wa nt to agriculture is one that both sides want to try and agree to come to an agreement on, but it is so controversial. yes, and many of the sticking points we saw in the negotiations for the transatlantic trade and investment partnership that took place between 2013 and 2016 which went into the freezer when the trump administration came into office, that was 15 rounds of negotiations. some of the toxic neo—con build on process made, but it is not going to be quick and easy. the idea now is to have tracks on various issues instead of a
comprehensive and single undertaking. we will watch very closely. thank you for explaining that. lots of negotiations still to go on. but it sounds familiar, trade talks where no one is really sure of what they want. sure of what they want. let's take a look at some of the other stories making the news. there are reports that the uk government could cut trade tariffs on up to 90% of goods in the event of a no—deal brexit. some tariffs would be scrapped completely, including those on car parts, and some agricultural produce. the government hasn't confirmed the plans, but says it will make an announcement once a decision had been finalised. lorries heading for the uk through calais, dunkirk and the eurotunnel are facing a third day of long delays because of industrial action by french customs officers. these are the images from yesterday. they're demanding more pay and resources ahead of brexit and are taking much longer than usual to carry out inspections. it's led to queues several kilometres long.
an italian trade official has told the financial times that his country plans to formally back china's belt and road initative. the trade and development strategy is designed to help beijing boost foreign trade. the agreement is likely to be signed when president xi visits rome later this month. it would make italy the first g7 country to endorse the controversial scheme. former nissan chairman carlos ghosn has walked out ofjail today after spending almost four months in detention. let's ta ke let's take you to the live pictures. this is the image into the care of the van that has left present with carlos ghosn on board. we have been looking at the images over the course of the last few hours of him leaving and it seems that he sneaked out of a back door. this is the image of him leaving the court, some say perhaps to skies. but
nonetheless leaving court after posting bail and it was a pretty substantial bell, 9 million us dollars. mr ghosn faces financial misconduct allegations, all of which he denies. but leaving court and prison today after being released on bail. mariko oi is in singapore. she has been across this for us. you have been relentlessly watching these pictures for the last 2a hours. it took him awhile to come up with that $9 billion, didn't it? that is right and i have to admit i missed him. iwas that is right and i have to admit i missed him. i was staring at that revolving door for hours but because he came up with that blue cap and wearing glasses and a mask i was not sure it was him. but he has now been released after posting bail of $9 million, 1 billion japanese released after posting bail of $9 million, 1 billionjapanese yen, the sixth highest they'll ever in japan's history. it has apparently
been paid in cash, but his legal tea m been paid in cash, but his legal team had to get it transferred. after posting the bail he has been released after spending over 100 daysin released after spending over 100 days in that detention centre since he was arrested on the 19th of november. the decision to release him came as a surprise yesterday because in japan bail him came as a surprise yesterday because injapan bail is rarely given unless you confess to crimes who have been accused of. and as we have reported, carlos ghosn has repeatedly denied all the charges. he faces serious allegations, including underreporting of his income between 2010 and 2018. he is also accused of shifting his private, personal investment losses onto nissan. when he appeared in court very briefly on the 8th of january he denied on the charges, saying that on the underreporting of his income he said it was deferred
payments, something he would have received in his retirement. because he did not know the amount he would be paid, he was told it was ok not to declare it. that was his defence. this is only a small victory. his trial date has not been sacked and it could still be months away. thank you so much. if you misheard me, i said $9 billion bail, it was 9 million. getting our millions and billions mixed up. an important figure for carlos ghosn. the asian markets are pretty mixed, no real direction today. on monday we had a big spike in asia on speculation there has been a breakthrough on trade. tuesday was quiet and so far it is the same today. local stories like one of japan's biggest banks saying new charges will hit future profits. let's go on to european markets
trading right now. a couple of losers in london on the ftse100. legal and general shares are down 3.5%. uk orders are up 7% forjust teak and yet shares are down by 4%. not enough to impress financial markets. what is ahead for wall street? and michelle fleury has the details of what's ahead on wall street today. the latest trade figures from the us commerce department are due out ina few hours and they are unlikely to meet the president happy. donald trump likes to complain about america's trade deficit. when the us imports more than it exports he sees it as further proof that america is being ripped off. the latest release is expected to show america's trade deficit went up in december despite tariffs which were meant to make imports more expensive and less appealing to consumers to buy. most economists view the trade balance through a different perspective, pointing out that consumers buying more goods and services from abroad can be a sign of a strong economy.
other data to watch out for this wednesday, the latest report on private payrolls and fourth—quarter earnings from teen retailers abercrombie and fitch and american eagle outfitters. joining us is laura cooper, head of fx solutions and strategy at rbc wealth management. good morning. good morning. you in particular have been watching stirling this week and there is so much news flow about brexit this week. absolutely. we did see the pound rise to an eight month high last week on these expectations that we could see an extension to article 50, but as well that the risks of the uk crashing out of the eu were falling. we have seen some of that optimism fade in stirling is coming under quite a bit of pressure against the us dollar. this reflects the fact that markets are waking up once again to the fact that we do
still have a great deal of brexit uncertainty going forward. speaking of that uncertainty, this morning the ft has a report and it says that up the ft has a report and it says that up to 80 or 90% of goods would not face ta riffs up to 80 or 90% of goods would not face tariffs in the uk. that would make a big difference, that would clear some of the concerns that manufacturing terms have, but no confirmation on either side. manufacturing terms have, but no confirmation on either sidem manufacturing terms have, but no confirmation on either side. it is just to provide some kind of relief to markets and if we do see this chaotic brexit emerge, the impact that that can have on businesses and the fact we are seeing firms stockpile. at this point it is just providing some calmness to the risk that we could see a new deal brexit emerged. you will be back later. interesting to get your thoughts on the dress down code. is it goldman sachs?
a lot of you getting in touch with us a lot of you getting in touch with us about what is a relaxed dress code. in the wording they call for good judgment in their fashion choices. interpret that as you will. we will talk about that a bit later. everybody is quick to judge mine, especially on social media. still to come... tapping into a near aobn dollar market. why natural remedies and health supplements are booming. we meet the boss of one firm making wellness work. you're with business live from bbc news. the tuc are calling today woman's pay day. because of the gender pay gap they say it's the first day of the year women get paid
compared to men. the current gap for all employees stands at 17.9%, but there are huge regional differences. sue coe is from the tuc. i have to say this is an annual story, tell us why you have marked today as women's payday? we have marked it because the uk has one of the worst gender pay gaps in europe and as you said, it is 17.9% which means that women are in effect working for free for more than two months of the year. it is notjust the size of the pay gap, it is also that it the size of the pay gap, it is also thatitis the size of the pay gap, it is also that it is narrowing at a snail‘s pace. if we continue at the rate that we are going, it will take 60 yea rs before that we are going, it will take 60 years before the gender pay gap has eventually closed. in britain that
thatis eventually closed. in britain that that is too long. 60 years is too long, i remember 100 that is too long. 60 years is too long, i remember100 years that is too long. 60 years is too long, i remember 100 years not so long, i remember 100 years not so long ago. why is this problem of not being resolved effectively, a problem that has been an issue at the bbc as well? there are a number of reasons why the pay gap exists. it is because we do not have flexible working cultures, we do not have well paid part—time jobs. we know that women are concentrated in the low—paid, pa rt—time know that women are concentrated in the low—paid, part—time work. not only is the pay poor, but also you get less chance of progression. women still take the lion's share of childcare. also, as you mentioned, the bbc, discrimination is a real factor. we still have women being paid factor. we still have women being pa id less factor. we still have women being paid less for a work of equal value. we will have to leave it there, i
fear as a conversation we will be having this one again. but it is interesting, women's payday. but it is interesting, women's payday. much more on the business live page. uk orders for the takeaway delivery service and it has been one of the biggest successes over the last few yea rs. biggest successes over the last few years. you're watching business live — our top story: europe's top trade commissioner cecilia malmstrom is in washington on a mission to head off crippling new us tariffs. she'll hold talks with her us counterpart robert lighthizer. but agriculture will not be included ina but agriculture will not be included in a potential deal. that is still
controversial. that is still controversial. when you're feeling a bit of a sniffle coming on, do you reach for a herbal remedy to make you feel better? the global wellness market is estimated to be worth more than $4—trillion dollars a year. and it's growing at a phenomenal rate — more than 12% over the past few years. one firm making the most of the expanding market is nelsons. founded in 1860, it creates a host of natural remedies which are sold in more than 60 countries. claire ferguson is chief executive of nelsons. welcome to the programme. you have been the boss for a couple of years and prior to that you were at johnson &johnson, and prior to that you were at johnson & johnson, such and prior to that you were at johnson &johnson, such a different model for you. how are you finding the world of wellness?” model for you. how are you finding the world of wellness? i have always worked in health care my whole career, so moving to natural health ca re career, so moving to natural health care was career, so moving to natural health ca re was a career, so moving to natural health care was a natural step for me and
the consumers are so well—informed about their and wellness in this day and age and two thirds of consumers would choose a natural product if they could. it just would choose a natural product if they could. itjust seemed like the right step for me. when we talk about wellness, what is interesting is clearly traditional medicine has an important role, but we are talking about alternative and natural remedies here. that self prescribing nature of it, you feel a bit of a cold coming on, you sort of know what you need to do and that is where you step in. how important is that recognition that people have about what they need and going out to get it themselves, avoiding the doctor altogether? it is hugely important. health care is one category and if someone goes to look ata category and if someone goes to look at a teething product, i have got a one—year—old baby and i was up last night and one—year—old baby and i was up last nightandi one—year—old baby and i was up last night and i might want to reach for a paracetamol suspension and a natural product, so it is all part
of one thing and consumers now look at it as one complete category. but you are right, they are so well—informed and quite often they understand their condition and they understand their condition and they understand how they are feeling and what products they want see. these products, the company has been around since 1860, they are natural products and a lot of them are flower remedies. these are some of your best sellers on the desk. you mention some of the celebrities, although you do not look for celebrity endorsement because you do not need to. you have international footballing stars talking about how they use a rescue remedy to calm them before an international football game. we do not look for celebrity stars, the important thing is we have 5.5 million users using our products. we sell one rescue remedy product every three seconds somewhere in the world. but one of the things that really attracted me to nelson's was the heritage with
the modern relevance. a lot of brands try and create a heritage, but we have been around since 1860, but we have been around since 1860, but someone like lionel messi, a world—famous but someone like lionel messi, a world —famous footballer, there but someone like lionel messi, a world—famous footballer, there was a headline about how he uses our remedies. is it the same rules and what claims you can make like traditional medicine? you talk about times of emotional demand rather than stress. you talk about clarity and composure. how do you get the message at these other things you might want to consider when you cannot make medical claims? we have a regulatory environment and we can do clinical studiesjust a regulatory environment and we can do clinical studies just like any health care product can. we put the user at the centre and we talk about what our products are for. but if you go onto amazon and read the reviews of people using our products, they speak for themselves. thank you for coming on, really interesting. the global chief
executive of nelson's. sally and i could use some of this, clarity and composure. i need more than that. the geneva motor show is in full swing and as well as brexit, and electric cars the other big issue is mobility. it is the latest buzz—word describing the changes in how we get around. but what are motor firms doing about it? our correspondent theo leggett is at the motor show and can explain. here at the citroen stand they have a concept of what they think mobility is and it is this. it's the ami 1and it sort of a car. it's got four wheels, it's a bit boxy. so what exactly is it for? well, to find out i'm going to talk to the person in the driving seat. come on through, because the driver of this is linda jackson, who is the chief executive officer of citroen. linda, what is this we are sitting in? what we are looking at here is an urban mobility concept.
what we are saying is think about customers and think about where you are. you are in a big city, it is very difficult nowadays to go into a city without you being electric, number one. it's very difficult to park, and sometimes if you live in a big city you don't necessarily want to own your car 100%. so what we have created is an object, we call it an object, a mobility object if you like, which will make your life easier. so it is 100% electric, you don't need a driving licence in most countries to be able to drive it, so young people can drive it. it is teenagerfriendly? teenagerfriendly. and it is also managed completely by your smartphone so you literally can order this car if you want to do, sharing, or if you want to buy one it's also possible in terms of the concept, but also you get into the car by your smartphone, you start it with your smartphone, so it is smartphone, so it is smartphone friendly, youngster friendly and also itjust gives you some freedom in the car. so that is what we are thinking about mobility urban wise. that is glenda jackson, the chief
executive of citroen. you wouldn't be able to get into that, it looks really cosy. the real test would be me sitting in kaiser saying, no, i the real test would be me sitting in kaisersaying, no, ido the real test would be me sitting in kaiser saying, no, i do not fit, the real test would be me sitting in kaisersaying, no, ido not fit, no, ido kaisersaying, no, ido not fit, no, i do not fit. laura is back. we are going to talk about goldman sachs introducing a new dress code. virgin atlantic has introduced another new code as well. what are they saying? they want to have a more casual work place and this is reflected the shifting workforce we are seeing. we are seeing more millennial is enter the workforce. basically what they are trying to do is maybe come across as less as stuffy bankers and try to attract the talent that would probably go into tachy. attract the talent that would probably go into tachylj attract the talent that would probably go into tachy. i am looking
at the e—mail and they say, we want all our clients to feel comfortable and confident with our team so dress ina manner and confident with our team so dress in a manner that is consistent with your client's expectations. that is the biggest statement i have ever had and that is open to interpretation. they do say use good judgment, so i assume you will not go to judgment, so i assume you will not gotoa judgment, so i assume you will not go to a meeting with the ceo wearing a hoodie. can i call it ban? you may think he is a smartly dressed. are you saying that is because i am wearing jeans and trainers underneath the desk. that is as good as it gets. let's have a look at viewers permit comments. is the day of the shirt and tie coming to an end? ray says, it should be less comfortable unless there is a professional hazard like lawyers. and there is a difference between
men and women and women may have more choices. keep your comments coming in. laura, thank you for your company. see you soon. it was a wet and windy night for many and we keep very unsettled weather over the next few days. todayit weather over the next few days. today it will stay mostly cloudy and there will be heavy and blustery showers, even thunderstorms and a bit of hell mixed in with that as well. low pressure firmly in charge of our weather and that keeps things very changeable and this is bringing more persistent rain in scotland and northern ireland with hill snow as well. for england and wales there are heavy showers and they will move their way eastwards. some brighter skies in between the showers, but fairly blustery winds. temperatures 13-15, fairly blustery winds. temperatures 13—15, so quite mild. in contrast scotla nd
13—15, so quite mild. in contrast scotland and northern ireland have highs of 7—9d. tonight we will continue with that rain and it will edge its way further southwards into north—west england and north wales. clearer skies to the south of and blustery conditions and temperatures no lower than four or five. that area of low pressure is just noting its way out into the north sea and its way out into the north sea and it will switch the wind direction which will draw in cooler air, so it is coming all the way from the arctic and weaving its way southwards into the uk area. a chilly day for england and wales. quite a few showers and spells of rain in northern and western areas transferring their way south and east on thursday. eventually brighter skies developed in the north—west and temperatures will be 7-11. north—west and temperatures will be 7—11. going to the end of the week we have got a small ridge of high
pressure moving its way info frayed and that will keep things settle. whether we can more wet weather is waiting in the wings. on friday it is dry and it could be chilly to start off with with sunshine. claude increasing from the west and rain moves its way eventually into northern ireland, wales and the south—west of england. the further east you are, it says driest for the longest. as we go through the week there will be more rain and some strong winds. still some hill snow and it will feel rather chilly. goodbye.