:00:00. > :00:00.This is Business Live from BBC News with Victoria Fritz
:00:07. > :00:11.Belgium observes three days of mourning
:00:12. > :00:15.We look at moves to make Europe's cities safer.
:00:16. > :00:33.Live from London, that's our top story on Wednesday 23rd of March.
:00:34. > :00:35.Security in the spotlight - as Brussels steps up
:00:36. > :00:38.its counter-terrorism efforts we find out what are the technical
:00:39. > :00:45.challenges and economic impact of keeping Europe's cities safe.
:00:46. > :00:50.Also in the programme: Bangladesh's central bank hires a US lawyer as it
:00:51. > :00:53.considers a lawsuit against New York Federal Reserve Bank.
:00:54. > :00:57.This comes after hackers stole $81 million from its account.
:00:58. > :01:03.And we are 30 minutes into the European trading day -
:01:04. > :01:06.it's a mixed picture, but are the travel and tourism
:01:07. > :01:15.And how do you translate your passion into a viable business?
:01:16. > :01:17.We'll be talking to Thomasina Miers - the founder of
:01:18. > :01:29.Have you done it? Today, we want to know if you have turned a burning of
:01:30. > :01:37.session into a thriving enterprise. Brussels is coming to terms
:01:38. > :01:43.with Tuesday's fatal attacks at the city's airport and a metro
:01:44. > :01:45.station These came despite countries
:01:46. > :01:51.increasing their counter-terrorism efforts following the Paris
:01:52. > :01:55.attacks last year. At the time, Belgium pledged nearly
:01:56. > :01:59.$450 million of additional spending - aimed at improving intelligence
:02:00. > :02:06.and combating radicalisation. France too, increased funding,
:02:07. > :02:09.raising police numbers It says it has stopped 10,000 people
:02:10. > :02:15.from entering France Here in the UK the government
:02:16. > :02:21.is adding almost 2,000 But are these efforts making
:02:22. > :02:30.European cities any safer? With us in the studio
:02:31. > :02:32.is Edward Marsh. He's the Director for Aerospace,
:02:33. > :02:45.Defence Security I suppose that is the question. All
:02:46. > :02:52.of those measures we heard, the extra spending, is it working? Yes,
:02:53. > :02:55.unfortunately we saw another bad day in Europe yesterday. You are right
:02:56. > :03:02.to highlight the 450 million which has been allocated by the government
:03:03. > :03:07.in Brussels. We know there are 300,000 surveillance cameras within
:03:08. > :03:10.the country, and indeed, the Prime Minister there has highlighted there
:03:11. > :03:18.is a distinct lack of manpower within the police. Funding has been
:03:19. > :03:22.seen across the European Union. We have seen a rise in the number of
:03:23. > :03:30.staff in the security services. 1.9 billion additional funding has come
:03:31. > :03:39.for specialist equipment, probably with an eye on counterterrorism
:03:40. > :03:43.operations. In France we have seen an increase in policing so there is
:03:44. > :03:49.a lot going on. All of this is welcome and it will help in the
:03:50. > :03:54.fight. We are hearing comments from security chiefs that they hear that
:03:55. > :03:58.resources are overstretched, despite the increase in funding and boots on
:03:59. > :04:04.the ground. Where else should we be spending the money if it is not on
:04:05. > :04:07.the measures which are already in place? It is an interesting question
:04:08. > :04:13.which will be discussed in the coming days, weeks and months. We
:04:14. > :04:17.are seeing increased expenditure on the ground and the intelligence
:04:18. > :04:20.services which gives a lot of confidence to the population, what
:04:21. > :04:25.we are not seeing potentially is a balance of spending. We need to see
:04:26. > :04:30.spending on things like technology. Yesterday we know that the two bombs
:04:31. > :04:35.that went off in the airport were technically into public areas which
:04:36. > :04:40.we could have walked into ourselves in the morning. So, a solution for
:04:41. > :04:45.technology in the airports needs to be found potentially, but above all
:04:46. > :04:50.of that, cooperation between intelligence services. That really
:04:51. > :04:55.needs to be formulated. That gets to the heart of it. This was not an
:04:56. > :05:00.attack or an assault on Brussels, it is an attack on European values.
:05:01. > :05:05.They are very much in focus at the moment. We are seeing more
:05:06. > :05:09.polarisation across western Europe? Yes, it is a very hard topic at the
:05:10. > :05:14.moment and there is a lot going on financially with the migrant crisis
:05:15. > :05:19.etc. Security is one area where we can come together pretty easily on.
:05:20. > :05:24.We are seeing the intent from security services. We heard rhetoric
:05:25. > :05:28.from President Hollande and David Cameron yesterday, to move towards a
:05:29. > :05:33.united front on security because this was essentially an attack on
:05:34. > :05:39.all of Europe. Edward Marsh, we will leave it there. Thank you.
:05:40. > :05:44.Lots more on that story online, of course. In other news...
:05:45. > :05:53.Credits Wiese is starting a cost-cutting programme eliminating
:05:54. > :05:55.2000 jobs. The bank says it is doing so to get a challenge market
:05:56. > :05:59.conditions. -- Credit Suisse. Bangladesh's central bank
:06:00. > :06:01.is considering filing a lawsuit against the Federal Reserve Bank
:06:02. > :06:04.in New York - after cyber hackers The Bangladesh Bank has hired a US
:06:05. > :06:12.lawyer, In February, hackers succeeded
:06:13. > :06:18.in instructing the New York Fed to transfer money from
:06:19. > :06:21.the Bangladesh Central Bank's account to accounts
:06:22. > :06:24.in The Philippines. Australia is to set up a massive
:06:25. > :06:27.clean-energy innovation fund to counter its status as one
:06:28. > :06:29.of the world's largest The plan announced by
:06:30. > :06:35.the Prime Minister Malcolm Turnbull will cost over 760
:06:36. > :06:37.million US dollars. The aim is to ultimately reduce
:06:38. > :06:41.Australia's carbon emissions to zero, an immense task given
:06:42. > :07:00.the country's reliance Let's have a look at some of the
:07:01. > :07:05.stories on the tablet. This one comes from William Hill, one of the
:07:06. > :07:09.big bookmakers. They have been warning about weaker than expected
:07:10. > :07:16.performance. We are seeing this right across the sector. They have
:07:17. > :07:19.been hit by changes to taxation in gambling and they are expecting
:07:20. > :07:23.weaker profits from online performance as well. We are seeing,
:07:24. > :07:31.in the first few minutes of trade, some of the big players like Paddy
:07:32. > :07:37.Power, are seeing the shares fall. Just to look through, there are
:07:38. > :07:41.loads of stories. I am whizzing through the Business Live page
:07:42. > :07:46.myself. There are lots of companies with stories, certainly in the UK.
:07:47. > :07:50.Do take a look if you have time. Now let's move on to the markets in
:07:51. > :07:51.Asia. So how have financial
:07:52. > :07:53.markets in Asia responded Mariko Oi is looking at this
:07:54. > :08:11.in our Asia A fairly muted response, we
:08:12. > :08:17.understand Kers that is right, Victoria. The markets were all
:08:18. > :08:22.trading lower, but not by much, just by 1%. Analysts have told the BBC
:08:23. > :08:27.that the attacks in Brussels may have made investors less willing to
:08:28. > :08:31.take a risk, but at the same time, unfortunately, they are getting
:08:32. > :08:35.somewhat used to these tragic incidents, because they have been
:08:36. > :08:45.occurring rather frequently. One stock in the spotlight, especially
:08:46. > :08:53.in Australia that I want to mention, a petroleum company which is down.
:08:54. > :09:01.The company cited global oversupply which pushed down the prices as a
:09:02. > :09:07.reason for the decision. Thank you, good to see you.
:09:08. > :09:13.Let's show you some numbers now will stop as she mentioned, a fairly
:09:14. > :09:18.flat, muted day in Asia. Let's look at Europe now. Europe is still
:09:19. > :09:24.digestive and the events over the last 48 hours. When we looked at
:09:25. > :09:35.them a moment ago they all headed higher. There we go, as if by magic!
:09:36. > :09:42.It seems as if the markets are shaking off what happened in
:09:43. > :09:47.Brussels. Some are arguing that the reaction has not been as significant
:09:48. > :09:52.this time. We will be discussing the reasons why later. The oil price is
:09:53. > :09:57.slightly lower. Keep an eye on currencies today. The pound could be
:09:58. > :10:02.on the move. Boris Johnson will be speaking later. He is heading up the
:10:03. > :10:04.out of Europe campaign for the referendum. Victoria.
:10:05. > :10:17.He's the CEO of Nutmeg Investment Management.
:10:18. > :10:24.Good morning to you. We all thought that travel stocks would be hit
:10:25. > :10:29.hardest after what happened in Europe. But you were saying some
:10:30. > :10:35.quite interesting things about what is going on with US travel stocks,
:10:36. > :10:42.perhaps linked to what is happening in Brussels? It is an instinctive
:10:43. > :10:47.reaction that British stocks, including airline and cruise stocks,
:10:48. > :10:51.will fall after terrorist attacks, but actually, if you think about
:10:52. > :10:57.where those countries send people, quite often it is outside of Europe.
:10:58. > :11:01.In the US, a lot of travellers are thinking only about Europe, and they
:11:02. > :11:08.think about Europe as a collective. The whole of Europe gets taken off
:11:09. > :11:10.the travel menu. So we saw stocks in US companies and airlines fall more
:11:11. > :11:14.than we did for the UK and European ones. That is certainly the case in
:11:15. > :11:21.December of last year, following what happened in Brussels in
:11:22. > :11:28.December. London saw a big falloff in American visitors, with the major
:11:29. > :11:32.sites. We have read that Thomas Cook are anticipating that bookings will
:11:33. > :11:36.be about 2% down. That is important in terms of profits but it should be
:11:37. > :11:40.recoverable. So much depends on what the weather will be like in the
:11:41. > :11:45.summer and whether people will want to stay in the country or take
:11:46. > :11:50.holidays abroad as well. For the financial markets, it is quite a
:11:51. > :11:54.funny week. We are coming up to the Easter break. Many markets will be
:11:55. > :11:59.closed for the long weekend. People will not want to have big positions
:12:00. > :12:02.the side of the Easter weekend. The interesting thing you mentioned is
:12:03. > :12:07.about the currencies. We look at almost every country, you can have a
:12:08. > :12:13.story about why the currency will weaken. You can have UK politics,
:12:14. > :12:18.the Brexit, Brussels and the action their central bank is taking, but
:12:19. > :12:22.almost everyone is on a path to weakening so it evens itself out
:12:23. > :12:25.which will probably reduce the volatility as we go into Easter and
:12:26. > :12:30.I expect stocks will continue to float based on the momentum of the
:12:31. > :12:34.last couple of weeks, probably gently upwards. Nick, we will leave
:12:35. > :12:36.it there, I know you're coming back to run through the paper stories
:12:37. > :12:41.later. Still to come: How do you turn
:12:42. > :12:44.a personal passion into a business? We'll be hearing from the founder
:12:45. > :12:46.of the Mexican restaurant group You're with Business
:12:47. > :12:50.Live from BBC News. It is crunch-time for one
:12:51. > :12:52.of the UK's best-known High Street Its creditors will vote today
:12:53. > :13:01.on a deal it desperately needs to cut the rent bill
:13:02. > :13:04.for its 164 stores. Ben Thompson is across
:13:05. > :13:19.this for us in Salford. Good morning to you. Morning, girls!
:13:20. > :13:24.It has been on our high streets 88 years, but it has been loss-making
:13:25. > :13:31.for the last eight. This is a crucial day in its history? I don't
:13:32. > :13:36.think we can underline quite how important today is for the future of
:13:37. > :13:43.DHS. It has been struggling of late. All sorts of profit warnings and
:13:44. > :13:47.heavy losses. -- BHS. It was sold for a pound recently to try and sort
:13:48. > :13:52.out some of the debts. It is sitting down with the creditors and the
:13:53. > :13:55.landlords which owned the property is where the stores operate, to try
:13:56. > :14:01.and negotiate a reduction in rent. It says it needs to do that to bring
:14:02. > :14:06.down the costs. How did it get into this position? It was one of the
:14:07. > :14:10.best loved names on the high street. What went wrong? We have been
:14:11. > :14:13.speaking to some people with fond memories of what BHS used to be
:14:14. > :14:21.like. It has been around for awhile and
:14:22. > :14:25.the quality is good so we use it. It has an image of being for the
:14:26. > :14:29.elderly. I know I have grey hair! It has that image. It was a place I
:14:30. > :14:39.used to shop as a child. I remember going with my mum. I think it is
:14:40. > :14:43.quite dated. They have evidence in there and do clothes to fit my age
:14:44. > :14:49.group and my size. It is about the only shop left in London, they are
:14:50. > :14:55.all closing. We should point out that they are
:14:56. > :15:02.still open despite what you heard there, but they are struggling. The
:15:03. > :15:07.voluntary arrangement they came to is interesting. It is a similar
:15:08. > :15:11.arrangement with the Budget hotel chain Travelodge. They racked up
:15:12. > :15:16.debts, entered into this agreement and things are going well. Their
:15:17. > :15:20.figures are up 15% since it had a similar arrangement. It will be
:15:21. > :15:24.worth watching what happens today. The meeting starts at around
:15:25. > :15:28.10:30am. We will expect news about whether they have reached a deal by
:15:29. > :15:30.about one o'clock today. Our top story: Belgium begins three
:15:31. > :15:34.days of mourning after Tuesday's Police are hunting for a third man
:15:35. > :15:51.in connection with the explosions Plenty more on the website. At the
:15:52. > :15:53.top of every news hour we are live in Brussels.
:15:54. > :15:56.Building a business around one of your passions is often described
:15:57. > :15:58.as a key ingredient in creating a successful company.
:15:59. > :16:00.And that's exactly what our next guest has done.
:16:01. > :16:03.Thomasina Miers is the co-founder of the Mexican restaurant chain
:16:04. > :16:07.She visited Mexico when she was 18 and liked the country and food
:16:08. > :16:10.so much she decided to go back to live there.
:16:11. > :16:13.After returning to London her love of the culinary arts helped her win
:16:14. > :16:18.the reality TV show Master Chef in 2005.
:16:19. > :16:24.Buoyed by that success, she opened her first restaurant
:16:25. > :16:29.Almost a decade later, there are now 21 outlets
:16:30. > :16:32.around the UK with the company eyeing up further expansion.
:16:33. > :16:42.Welcome. Thank you. You have got to tell us what did you learn first at
:16:43. > :16:46.MasterChef? It must have been a huge moment in your life back in 2005
:16:47. > :16:50.that meant you took it on and decided to open a restaurant two
:16:51. > :16:53.years later? It was a very good experience in terms of just
:16:54. > :16:57.swallowing when you were terrified and you know keep calm and carry on,
:16:58. > :17:02.I think, that was the biggest thing I learned. Swallow your fear and
:17:03. > :17:09.just keep going. And you won. It worked. Yes. Well, I think, I had so
:17:10. > :17:12.much passion and belief in what I was doing and I think as long as you
:17:13. > :17:15.are staying true to yourself and your vision, it works in everything,
:17:16. > :17:19.but it follows through in food as well and I think that's what Greg
:17:20. > :17:23.and John really saw in my cooking, a total belief in what I was doing.
:17:24. > :17:27.You are the first restaurant group to be certified as a carbon neutral
:17:28. > :17:33.company recently as well. Why does that make financial sense for your
:17:34. > :17:37.business? Well, I think from the first very days we set-up Wahaca, we
:17:38. > :17:41.were recycling food waste and leading the way in terms of
:17:42. > :17:46.everything we were doing in terms of an environmental scale. We always
:17:47. > :17:50.believed that you could set-up a successful business and we had an
:17:51. > :17:54.environmental aspect as part of it and really that idea that you can
:17:55. > :17:58.create a successful business and weave that in was very important to
:17:59. > :18:01.us and I still feel it is possible for all businesses. You have woven
:18:02. > :18:06.in all elements. There is that element, but there is what you do
:18:07. > :18:11.with your food waste. You have set-up an organisation called Pig?
:18:12. > :18:16.The Pig Idea. It is campaigning for a very verse on the illegal feeding
:18:17. > :18:19.of food waste to pigs, yes. You have got that, you have done cookery
:18:20. > :18:23.books where the money goes to the homeless. You are involved in so
:18:24. > :18:27.many different aspects. It is about you and your passions and this
:18:28. > :18:32.restaurant, the books and everything else is kind of just enabling that?
:18:33. > :18:37.Well, food is really a central theme to everything. It really affects our
:18:38. > :18:41.mental health, our physical health, the growth of it, is the biggest
:18:42. > :18:44.consumption of energy and water worldwide. So how we grow it, and
:18:45. > :18:49.how we transport it and how we feed it to our children and how we
:18:50. > :18:53.educate our children to eat, weaves every aspect of life, politically
:18:54. > :18:57.through health. So for me, it is a really fascinating subject and I
:18:58. > :19:00.think all chefs and restaurateurs, you know, there is so much weaved
:19:01. > :19:04.into it and I think education is very important too. That children
:19:05. > :19:08.learn about food and where it comes from, not just in terms of mental
:19:09. > :19:12.and physical health, but in terms of how it affects every landscape. OK,
:19:13. > :19:17.so you have a fair number, I think it is fair to say of social projects
:19:18. > :19:22.going on as a result of Wahaca. But that is not easy to do. It is not
:19:23. > :19:26.easy to follow your passions and promote all these different aspects
:19:27. > :19:29.of your life and under the table we can see you are pregnant, heavily
:19:30. > :19:33.pregnant. It is an awful lot for you to be doing at this moment. I mean,
:19:34. > :19:39.how are you managing all of this? Well, I think for me food is my
:19:40. > :19:44.passion so I live and breathe it. I cook with my children, I grow
:19:45. > :19:47.vegetables in my back garden. We are building an edible open air
:19:48. > :19:52.classroom in our local primary school which is really promoting
:19:53. > :19:55.green spaces for creative education, very important secretivity in
:19:56. > :19:59.education because Britain and business is linked with creativity
:20:00. > :20:03.and that's very important for the Government to take on and it is my
:20:04. > :20:10.passion. People at Wahaca feel that. When they come into our restaurants,
:20:11. > :20:15.they feel the buzz, we are into street art and we put on festivals
:20:16. > :20:20.at Wahaca. I'm thinking of Jamie Oliver, he is very similar in his
:20:21. > :20:26.way of trying to change the way we are and how we think about also the
:20:27. > :20:30.impact it has on children. I know, you know him, don't you and you work
:20:31. > :20:34.with him on some projects as well. It seems that chefs are pioneering
:20:35. > :20:38.in this area and even in the UK Budget we have seen an impact of
:20:39. > :20:41.that and school dinners in the UK are different because of what people
:20:42. > :20:44.like Jamie Oliver and people like you are doing and how important is
:20:45. > :20:47.that, that corporate social responsibility do you think for
:20:48. > :20:50.people who run businesses? Well, I think it is really hugely important
:20:51. > :21:00.because if you have any influence and you can change the world for a
:21:01. > :21:06.better place, it is amazing and I think now adays food has an
:21:07. > :21:10.influence. If we can have any influence and the millennias who are
:21:11. > :21:17.eating with their pockets, that's great. Neither you or Jamie Oliver
:21:18. > :21:21.have been able to be immune to the furore that's going on around pay
:21:22. > :21:24.and staff tips. I know you have a fund in which the tips are
:21:25. > :21:30.distributed across all staff. Why do you think that works for you? There
:21:31. > :21:35.is not as much incentive for a waiter to give good service if he
:21:36. > :21:42.thinks part of his tips are going to the person washing the dishes?
:21:43. > :21:49.Everyone from the dishwasher to the general manager affects your
:21:50. > :21:54.experience. We have five people who came in as -- five head chefs that
:21:55. > :21:57.came in as dishwashers. All our tips are pooled and go to all our staff,
:21:58. > :22:00.but they are shared out evenly because the waiter is just part of
:22:01. > :22:04.that experience and we feel that very strongly. We are going to have
:22:05. > :22:09.to leave it there. We could talk for hours. All the very best with your
:22:10. > :22:15.latest project, baby number three on its way! Thank you very much.
:22:16. > :22:19.In a moment, we will look through some of the stories in the business
:22:20. > :22:25.press. Here is a reminder how you can keep in touch with us. The
:22:26. > :22:29.Business Live page is where you can keep ahead with the latest business
:22:30. > :22:32.news. There is insight and analysis from the boob's team of editors
:22:33. > :22:39.around the world. And we want to hear from you too. Get involved on
:22:40. > :22:45.the BBC Business Live web page. On Twitter:
:22:46. > :22:48.And you can find us on Facebook: Business Live on TV and online
:22:49. > :22:59.wherever you need to know. Nick Hungerford, CEO
:23:00. > :23:07.of Nutmeg Investment Management. This is a war of words between OPEC
:23:08. > :23:12.members and other oil producing nations. Who is going to blink first
:23:13. > :23:17.and will any agree to a production freeze when they meet in Doha in
:23:18. > :23:20.April? Even yesterday we saw the oil price go down because America
:23:21. > :23:25.announced that supply had increased over there and they are not a member
:23:26. > :23:30.of OPEC. It really does depend on who, you know, who is going to keep
:23:31. > :23:34.the strongest position for longest and we are increasingly aware that
:23:35. > :23:39.Russia is leading the charge for some sort of supply limit. But
:23:40. > :23:43.Venezuela is crucial to this because we were talking about this earlier
:23:44. > :23:47.in the green room, they don't have really much leeway at all and Brazil
:23:48. > :23:51.their neighbour in recession, they really need a deal to be done and
:23:52. > :23:55.production cuts? They are possibly the country under the most stress
:23:56. > :24:00.because 90% of their revenue comes from oil. They are very close as a
:24:01. > :24:04.country to be going bankrupt and to actually not being able to pay off
:24:05. > :24:08.their debts. So if a solution isn't found for countries like Venezuela
:24:09. > :24:11.and of course, you can also include Libya and Nigeria in that bracket as
:24:12. > :24:16.well, then things are going to get very tight. This is a story that has
:24:17. > :24:21.to come to a conclusion soon. All right. We will tell you as and
:24:22. > :24:31.when it does. The Wall Street Journal talks about McDonald's?
:24:32. > :24:35.McDonald's in India. I hadn't heard of the mac there, but it is having
:24:36. > :24:39.to be changed? We have seen all this trend happen in China with fast-food
:24:40. > :24:47.stores becoming very popular and not becoming popular. The big company
:24:48. > :24:53.Yum Brands who control pizza Hut and KFC, they have had to split their
:24:54. > :25:00.operations in order to make sure that company does the right thing
:25:01. > :25:06.for Chinese culture. In Venezuela, they are talking about cutting
:25:07. > :25:10.chilli in the ice cream! I put Sav rind in ice cream. It was horrible.
:25:11. > :25:16.I was trying to do something cool and it didn't work. Everyone thought
:25:17. > :25:21.McDonald's was a new restaurant and now they are on to new things. It is
:25:22. > :25:27.such a massive market, isn't it, India and we are going to see it
:25:28. > :25:30.open up. We are seeing its growth, GDP growing faster than China, 1.2
:25:31. > :25:35.billion people in the country. So it will be fascinating. One of the
:25:36. > :25:37.problems with Yum Brands there was a scandal about the supply of the
:25:38. > :25:41.chickens, there was a concern about safety of the food which is part of
:25:42. > :25:46.the issues they could never really shake off that reputational damage.
:25:47. > :25:49.Nick, we're going to have to leave it there. We have run out of time.
:25:50. > :25:53.There will be more business news throughout the day on the BBC Live
:25:54. > :25:55.webpage and on World Business Report.