tv BBC Business Live BBC News April 8, 2019 8:30am-9:01am BST
you're watching bbc news at nine with me lukwesa burak. the headlines: tech companies could be fined or blocked if they fail to protect children. campaigners say the plans hello, this is business live from would make britain a world pioneer. the bbc. hello, this is business five days before the uk is due to live from the bbc. carlos ghosn is gone from nissan leave the eu without a deal, labour as shareholders appoint the renault chairman as the new director. expects more talks with the government to try to break the break live from london, that's our top story on monday 8 april. that deadlock. the ultra low emission zone. the new pollution charge comes into force in central london to tackle the capital's toxic air. a british woman faces a prison sentence in dubai for calling her former husband an idiot online and his new wife a horse. it isjust shocking. no one would expect that having posted something on facebook several years ago it could hello, this is business live from the bbc. carlos ghosn is gone from nissan
and the better than expected jobs report from the us on friday has given markets a boost — but how long will it last as we head into another big week for brexit. and we'll hear from the woman he made a nut butter in her kitchen. now her not brand has become an international bestseller. with $12 million. the uk government says websites could be fined over harmful online content, we want to know if you think internet sites should be liable or is this an attack as some say on free speech. let us know what you think. hello and welcome to business live. a busy monday, so let's get started. big changes ahead for one of the world ‘s largest car companies. it's
been holding a large meeting today. carlos: as dead as a director. he rescued the firm from near ba n kru ptcy rescued the firm from near bankruptcy 20 years ago but from what she is accused of siphoning funds. he is in a tokyo jail after being rearrested on what financial misconduct charges last week. he denies any wrongdoing. this man has been appointed to replace carlos gorman. renault, nissan and mitsuibshi have a complex ownership structure. and nissan biggest shareholder is renault at 43% but the french government has a lot of influence because it is renault‘s biggest shareholder. rupert wingfield hayes is our tokyo correspondent. asi as i said, severing ties with the firm he rescued from near bankruptcy 20 years ago. the end of an era. that's right. very much expected, pretty much a formality. everyone knew this extraordinary meeting
today in tokyo that carlos ghosn with the ousted from his formal position, he was still a member of the board of directors but as you say, a hugely significant moment. this is the man who sits in a prison cell not very far away from where i said. a man who took nissan from near bankruptcy back in 1999, turned it around, turned it into the very successful motor corporation that it is today. 0ver successful motor corporation that it is today. over a period between 2000 - 2008, the is today. over a period between 2000 — 2008, the share price of nissan went up 250%. not doing quite as well now. still significantly higher, around 200% higher than it was in 2000. the man they kicked out as the guy who brought a lot of shareholder value to the company, 110w shareholder value to the company, now he is surrounded by a huge scandal and allegations and criminal charges against him. rupert, thank
you, i know you will stay across this story for us. rachel burgess joins us now. now the deed has been done, but we expect, what happens next to this alliance? they say they wa nt next to this alliance? they say they want the alliance to continue, so many benefits of the alliance working together, predicting growth in sales across mitsubishi, renault and nissan from 11 million to 1a million by 2022, bidding them on a par with big car—makers like toyota and volkswagen. it makes sense because of economies of scale to keep this going but there is a lot of political issues with france and japan. nissan resent the fact renault have such a big share in them but they have a lesser share in renault and it's a nonvoting one. it's about dry to concede things to make sure they can work together because it would make no sense that the alliance disassembles. the renault chairman replacing carlos
ghosn is a concession from nissan? yes. basically what they are dry to do is make sure everyone feels happy with who is in power in the different places. so that this can never happen again. and so it's making sure there's concessions, renault are keeping nissan a bit happier, because they feel aggrieved because obviously in 2000 they were in big trouble, now there shares are larger than renault and they believe they have more right than they have 110w they have more right than they have now than what they deserved in 2000. where does this leave the business at the moment? how much damage has been done to the alliance? at the moment the share price has dropped but overall it's not been that damaging so far. i think the products are strong which will help from a consumer base and i think it's how they handle this in the next months and years because still questions over nissan ‘s doings in this and how unfolds and the success
of the company moving forward. rachel burgess, good to speak to you. let's take a look at some of the other stories making the news the former chairman of korean air has died in the united states aged 70. he remained chairman of the company even 70. he remained chairman of the com pa ny even after 70. he remained chairman of the company even after he was ousted following charges of embezzlement and tax evasion. a so—called nut rage incident provoked international headlines. the scandal is increased criticism in south korea about the privileged family owned conglomerates. the carrier boeing said its awaiting regulatory approval before the bombing max planes can return to the air. 737 max was grounded worldwide after two
fatal crashes of ethiopian airlines and lion air. and the global economy has entered a synchronised lowdown meaning data on the health of the world economy suggests a slowing down especially in the us, europe and china. the numbers were compiled bya us and china. the numbers were compiled by a us think tank and the financial times. as a result the international monetary fund plans to revise down this years growth numbers later this week. here's what the numbers are doing. a seven—month high in asia. happier than expected set of figures from the us. jobs coming in on fry's eight. 196,000 added in march, easily beating the forecast of 180,000, leaving the dowjones higher. some hopes of more stimulus in china helping to prop up the optimistic mood. in europe, the optimism are not lasting. sterling finishing last week on a pretty
negative note. that continued lack of clarity around brexit still weighing on the pound. the prime minister says she wants an extension until the end ofjune. brussels is not necessarily keen to rant a short delay, they been talking about a longer or more flexible one. we'll talk about that in a bit more detail. that said to the us, michelle has the details on what is going on in wall street today. investors will not only be across the latest brexit developments. in the latest brexit developments. in the us still keep a close eye on the minutes from the federal reserve march monetary policy meeting. wall street expecting the minutes which will be released this wednesday to show what exactly it will take for america ‘s central bank to cut rates going forward. speaking at the us federal reserve central bank holds an open meeting to discuss new rules forforeign an open meeting to discuss new rules for foreign banks this monday. an open meeting to discuss new rules forforeign banks this monday. they will also review livingwell requirements for both domestic and foreign banks. you may recall in the wa ke foreign banks. you may recall in the
wake of the financial crisis rules we re wake of the financial crisis rules were introduced to force banks to plan for what they would do if they we re plan for what they would do if they were to fail. if it is now considering changing those rules. and watch out for the latest factory goods orders. they are likely to show a goods orders. they are likely to showa 0.6% goods orders. they are likely to show a 0.6% drop in february after rising one tenth of a percent in january. let's speak to our special guest this morning. then touched on this. a big week once again for brexit. the pound under pressure, always interesting to watch it because it's a barometerfor how interesting to watch it because it's a barometer for how investors feel about what's happening. what are you and the city hoping for or expecting this week? we will keep our eyes peeled on what happens in april the 10th, wednesday, when the european council meets and decides whether to
grantan council meets and decides whether to grant an extension and on what terms. and indeed if there is no extension granted the default option very much becomes a no deal brexit u nless very much becomes a no deal brexit unless theresa may gets her deal through. we will watch for that, one big risk for the pound is the risk ofa big risk for the pound is the risk of a disorderly brexit and the other risk is that of a general election. and i'm afraid that uncertainty continues to hang over even if we get incremental information from europe this week. i'm afraid the pound will remain under pressure. we don't think at this point it will fall out of the range it's been since february. but there are a significant downside risks. we also, away from brexit, touched in the roundup of other news the potential downgrade for growth that we might get from the imf later this week.
we've also seen concern about us corporate earnings. is that all superseded by this concern about brexit or do you have your eye on all the other macroeconomic issues? we are global investors and very much focused on prospects for the global economy. starting to see some news from china, mixed data elsewhere, but this quarter will be week every four in terms of macroeconomic data. what we expect and what underpins a more cautious view on global equity is the earnings recession which has negative earnings growth in the us this quarter which we've expected for quite a while. the market has recently come down to downgrading expectations for earnings growth, thatis expectations for earnings growth, that is expected to be negative this quarter. what will focus on this week is towards the tail end of the week, will see the big financial firms,jp week, will see the big financial firms, jp morgan week, will see the big financial firms,jp morgan and week, will see the big financial firms, jp morgan and so on, announcing and it will be a pulse checkin announcing and it will be a pulse check in the us economy for us and we will watch those closely. for now, thank you, good to see thank you for explaining all of that. so much going on, investors are watching but the brexit issue still weighing on confidence and weighing on the pound. absolutely. still to come. cracking the nut butter market. the success story behind pip and nut
which in four years has become a brand worth $12 m. you're with business live from bbc news. london is ultra low emissions zones will come into effect today and other cities are set to follow suit. each car entering the zone will be checked against a database to see whether it's compliant with emissions standards and if it's required to pay a fee. let's speak to ben wicks from go ultralow, the joint government and industry campaign to promote electric vehicles. good morning. explain why this is necessary, in london loosing the congestion charge, is that not
enough? the great about his own as it will encourage people to transfer into the lowest emitting cars, plug—in hybrid and electric cars as well as new petrol and diesel cars will be permitted to travel in the sun andi will be permitted to travel in the sun and i think it's an interesting time for those looking to switch to buying new cars and will make them think twice about the car they are going to purchase next. some would question where the money will be spent. is that enough of a disincentive to dry into the centre and what will the money be used for? we are here to talk about what that will do for london roads and how it will do for london roads and how it will help improve air quality and encourage people to switch to electric cars. black cabs will still be driving, i think over 23,000 of them on the streets belting out diesel fumes. why are they not being charge? it's an interesting question to ask about taxi cars, there is now an electric taxi that you can
purchase, over 1000 of them on london roads, those numbers going up and we look forward to see how that will develop. good to talk to, thanks for explaining that, clearly a lot of issues. great to talk to you. thank you. plenty of news on the website. especially on the news live page. you will see debenhams share prices soaring by 22% today in early trading in london. not making a big dent in the share price which is pretty low. but also we look at a story about activists withdrawing sheu story about activists withdrawing shell climate change demands. they: royal dutch shell to change its climate policy after the company reached a broad agreement with investors over the issue, that's according to reuters. that and plenty more on the website. your're watching business live — our top story.
carlos ghosn is gone from nissan. a quick look at how the markets are faring. this is what the numbers are doing. the ftse 100 faring. this is what the numbers are doing. the ftse100 down 0.1%. it said it before and we will say it again, another big week for brexit. you'll find out more on how the prime minister expects to seek a short extension to resolve the problems or whether brussels will impose a longer extension which has not gone down well with many in westminster. we'll keep you right across. a complete gear change now. sweet savoury, chocolate noddy, sounds like you. the global spreads market worth more than $25 billion a year. one company has been taking advantage of the growing market. launched four years ago, pitches itself as a healthy
alternative offering a range of nut butters in what is a very busy but lucrative market. it's now sold in more than 5000 stores across europe and looks to have sales more than $30 million over the next two years. murray founded the company and joins us murray founded the company and joins us with some of your not butter. this is an amazing story. pippa, an amazing story, you started out one day in your kitchen, you wanted to make a healthy snack for you, you we re make a healthy snack for you, you were running a marathon. just over six years ago i was training for the paris marathon and i got addicted to the stuff, i love not butter. and for me, i wanted to get something free from palm oil and refined sugars, something that is genuinely really tasty so i bought a blender and away i went. many of us might have had that idea. we thought, 0k, knock something up in the kitchen but how do you turn it from that into a huge business? it takes quite a long time, i thought it would take six months but it took two years to
get products to market and a lot of ha rd graft get products to market and a lot of hard graft along the way. for me, there are some key things. get the product right, create a great flavour profile across the range, find the right manufacturing partner, financing the brand effectively. what was the hardest bit? you said you thought it would ta ke bit? you said you thought it would take six months but it took two yea rs, take six months but it took two years, but with the stumbling blocks? finding the right manufacturing partner, took over six months to find the person who could make the products like i did in the kitchen and believed in the brand. 0nce kitchen and believed in the brand. once you get that it can transform and speed things up. what about investment? how did that come about, it's a big problem for so many entrepreneurs. starting a food brand is pretty expensive. i did a crowdfunding campaign initially, raised around £100,000 before i launch the brand and have since done follow—up investment to fuel growth as we've grown throughout the uk.
when you see big growth, i'm looking here, 25% year on year, that comes with its own challenges, you touched on staying true to what you created in the first place but then also keeping up with demand. has something got to give? you've got to make sure when you are working with building the brand into retail you are working to the terms you want. being really mindful of how you are building the brand and throwing it through different stores and taking the time with each store to make it work. but fundamentally, if you have a clear purpose and vision for the brand, it can really help make sure you work on the right things and don't get too distracted by going everywhere. how do those negotiations work with big supermarkets? we hear horror stories of small suppliers getting squeezed, being asked to cut prices, being ridden roughshod
over by big retailers. over by big retailerslj over by big retailers. i think supermarkets over the past five yea rs have supermarkets over the past five years have cleaned up their act. 0ur first supermarket we launched into a sainsbury‘s, we had an incredible journey with them, they are incredibly supportive and mindful that you are a small brand. having said that you have to deliver and the main thing, you've got to prove your worth. they are also commercially minded in that sense, under a lot of pressure as well. they are tough but i think they are also pretty fair. you are a global brand, at least in europe. what's the difference between the market she encountered outside the uk and in the uk? the difference really, we have a food product, flavours and tastes change from market to market. you've got to tailor your position and the brand positioning to say that individual market. dare i mention the b word? you always bring that up. we are going to have some toast. i'm sorry. we talk about your a european brand. and clearly you
rely on things going through ports, imports, exports, you sell overseas. how do you prepare for that? the main thing we are doing is stockpiling a lot of products, we make some products in europe so we have to make sure we have enough just in case those ports make things tricky to get through. but that means a lot of money, you are having to put money into stock. it ties up cash and we have to be mindful around this time and we watch everything carefully, it impacts from a cost of goods perspective. everything carefully, it impacts from a cost of goods perspectivem will be an interesting few weeks. good luck, really nice to see you. so lovely to meet you. thank you. pippa murray. in a moment, we look through some of the business pages and we will talk all things tech with our technology correspondent but here's how you can get in touch. stay up—to—date with all the news as it happens on the bbc business life page. there is insight and analysis from a team of editors right around the globe. and we want to hear from
you. get involved on the bbc business life web page. 0n you. get involved on the bbc business life web page. on twitter. and you can find us on facebook. business life, on tv and online. what you need to know, when you need to know it. internet sites could be fined or blocked if they fail to tackle online clients such as terrorist propaganda and child abuse under new government plans. the proposals include an independent watchdog and a code of practice that tech companies would have to follow. 0ur tech correspondent is with us. rory, good morning. how significant is this? very significant. this has beenin is this? very significant. this has been in the works for a couple of yea rs. been in the works for a couple of years. increasing pressure on the government to do something about the regulation of social media and the internet. these are very broad aims. they are being talked about as some of the toughest regulations around the world but here's a big cautionary note. they are out for consultation. it'll be another 12
weeks of people chewing them over and there are a lot of difficult issues to be settled. who will the regulator be? an existing regulator like 0fcom or a brand—new one? what powers will they have, there is talk of fining executives, finding the companies and individual executives and even as a last resort getting internet service providers to block some sites. to use a most recent example, what happened in the christchurch shootings it was about uploading content to social sites and they could not police it because they were so much of it getting out there. what requirement will there be on these firms to take this stuff down? that's one of the key issues. they talk about the various harms and harms with a clear legal definition, things like child sexual abuse, terrorist content, extreme violence and so on, that's pretty clear but much less clear is things like cyber bullying, trolling,
disinformation, extremist content. where it's a real matter of debate and from the other side, people say is this a licence to basically crack down on free speech? here's a great example. there is a lot of concern in the uk and globally about campaigns against vaccination, said to be causing you charm. what will the regulator do about them, will the regulator do about them, will the regulators say to social media platforms, you cannot have that material. there will be an outcry from the outside if they did so. a tricky line to walk and a lot to be settled. we had a lot of tweets about this, insurance edge assess what is an online harm, showing a roast dinner potato to a vegan? 0ffering roast dinner potato to a vegan? offering an opinion on gender? who decides this. call it what it is, censorship, pure and simple. jackie said it's not exactly targeting the
root of the problem, therefore a waste of time and another says sites will have to close down for fear of being fined, with that be true?|j being fined, with that be true?” think those are extreme cases. the government, the regulator says in the white paper will take a proportionate approach. i mean, don't forget, this covers all sorts of sites from the giants like facebook to tiny message boards, you know if you've got a football club and there a social message board, that could come under this act and the paper, the government says will ta ke the paper, the government says will take a proportionate approach. the big sites with say they already invest time and money in policing content, much more so in recently and they've been spending more to make sure they are prepared but this is essentially saying you are going to have to spend even more. but the government says is we tried self—regulation, they promise to mend their ways and haven't done enough. what some people fear is that the big sites, facebook etc will be prepared for this, will have the resources to deal with this. and in some ways it could make them even
stronger and small up and coming sites won't have the infrastructure to deal with it. sites won't have the infrastructure to dealwith it. rory, good sites won't have the infrastructure to deal with it. rory, good to see you. thank you for explaining that. let's have a look through some of the other messages and thank you for your comments. we've had paul saying doesn't the government trust our own judgement or something? what's with this nanny state nonsense? we also had sound of says actually, they should, she mean she believes internet sites should be liable and says they make money out of art freely provided content. plenty of tweets and opinions coming from you so do keep them coming in. sites are liable for content and the damage that they can cause. we'll talk about this for the rest of the week, please keep your comments coming in. thank you for your company. see very soon. goodbye.
hello, good morning. a rather misty and murky started the day. a lot of fog across the south—east of england. for many of us brightening up england. for many of us brightening up nicely. some warm and sunny spells of those some showers across wales, the midlands, and into the south—east of england. all courtesy of this weather front, which will stick around for most of the day. in that zone, we see the cloud and showers continuing. elsewhere, the clu b showers continuing. elsewhere, the club breaking up quite nicely to give sunshine. except the north—east of scotland, north—eastern england, an onshore wind keeping cloud drifting in at times. some sunshine to the south—west, one or two showers in the isles of scilly.
those showers, quite heavy, thundery in that swathe from wales to the south—east. temperatures between 14-17d but south—east. temperatures between 14—17d but as high as 18—19 in the home counties. not quite as warm as that in the north sea coast. tonight, these showers across wales, the midlands, eastern england will merge into longer spells of rain. to the north of that, largely clear and fine. temperatures here for — 5 degrees overnight, 10 degrees in the south. this little weather front still here. bringing some outbreaks of rain throughout tuesday. mainly confined to south wales, southern parts of england, south of the m4 corridor. further north, a dry day with some sunshine, sunshine and the north sea coasts greater than today, chilly day for many of us. temperatures taking a dip. 9—13d for many of us. chillier along the north sea coast and because we have a
north—easterly wind bringing this colder air right across the uk, you can see the orange and yellow being pushed away to the south—west. this is wednesday. starting off with cloud across the south—west. that will tend to clear leaving a good deal of sunshine across many parts, you could see cloud plaguing the north—east coast of scotland, north—east coast of scotland, north—east england, temperatures 9-13d, north—east england, temperatures 9—13d, chillier feel north—east england, temperatures 9—13d, chillierfeelagain. forthe rest of the week, largely dry, varying amounts of cloud. some sunny spells. you can see temperatures remaining around 9—12, 13 degrees. that's it from me. goodbye.