:00:00. > :00:00.The UK's Serious Fraud Office has launched an investigation
:00:00. > :00:28.into allegations of fraud, bribery and corruption at Airbus.
:00:29. > :00:33.Also in the programme, building walls and trashing trade agreements.
:00:34. > :00:38.Donald Trump laying out his economic plans for the world's biggest
:00:39. > :00:42.economy. We have the latest from the markets where Asian markets hit a
:00:43. > :00:47.high for the year following the Wall Street stunning job figures in the
:00:48. > :00:54.USA on Friday. Does that make you thirsty or even hungry? We will hear
:00:55. > :00:57.an amazing smoothie success story and meet the fastest-growing
:00:58. > :01:02.smoothie company in the UK and ask what is their winning recipe? We
:01:03. > :01:09.want to hear from you, too. Do you buy into the story or perhaps you
:01:10. > :01:11.are an addict or believe it is a fad which will pass. Get in touch with
:01:12. > :01:24.us. The UK's Serious Fraud Office has
:01:25. > :01:26.launched an investigation into allegations of fraud,
:01:27. > :01:28.bribery and corruption involving The allegations relate
:01:29. > :01:38.to irregularities concerning the use Airbus said it was co-operating
:01:39. > :01:41.with the probe, which was The bosses of Britain's biggest
:01:42. > :01:45.companies now take home an average of around $7.2m per year-
:01:46. > :02:03.this according to a report Tell us more about this
:02:04. > :02:07.investigation. We know that air bus was carrying out an internal
:02:08. > :02:12.compliance review and back in April, it reported itself to the
:02:13. > :02:16.authorities because it found inaccuracies in the applications it
:02:17. > :02:21.had been making for exporter credit guarantees from the UK Government,
:02:22. > :02:26.so Airbus has been talking about this in recent months and we know
:02:27. > :02:30.that last night, late on Sunday in the UK, Airbus put out a statement
:02:31. > :02:33.saying the Serious Fraud Office has launched a criminal investigation
:02:34. > :02:41.looking at fraud, bribery and corruption. Potentially very serious
:02:42. > :02:44.allegations indeed. For those were not familiar, explain how these
:02:45. > :02:49.exporter credits work and where the third parties come in? This is where
:02:50. > :02:53.companies such as Airbus is exporting something abroad and it
:02:54. > :02:56.may well be you need some kind of financial guarantee to make sure
:02:57. > :03:02.that sale takes place, until you apply to the agency and the country
:03:03. > :03:10.concerned. We know 6% of Airbus sales were guaranteed by exporter
:03:11. > :03:13.credit finance but, since the Airbus notified the authorities about these
:03:14. > :03:18.inaccuracies earlier this year, Britain has frozen new applications
:03:19. > :03:24.and so has France and Germany as well. So this does potentially have
:03:25. > :03:27.some kind of financial impact. Clearly some serious ramifications
:03:28. > :03:32.for the company but what happens next? What is the next stage of
:03:33. > :03:37.this? The Serious Fraud Office can take an incredibly long time.
:03:38. > :03:41.Rolls-Royce has had a separate investigation by the SFO and it's
:03:42. > :03:44.already been going on for about four years so Airbus may well not know
:03:45. > :03:50.the outcome of this for quite some time. Of course, this could be a
:03:51. > :03:54.blow to the company, not just in terms of access to export credit
:03:55. > :03:57.guarantees, but also reputations as well, because Airbus is locked in a
:03:58. > :04:05.great global battle with its archrival Boeing to dominate the
:04:06. > :04:08.battle for passenger jets and this could mean the company takes a hit
:04:09. > :04:17.to its reputation. More detail on that on the website. Shares are
:04:18. > :04:20.falling in early trade. Let's check on some other news for you. The
:04:21. > :04:25.Chinese economy has shown further signs of weakness. The latest trade
:04:26. > :04:31.figures came in worse than expected exports shrinking for the 21st month
:04:32. > :04:36.in a row. Experts fell 4% in July, worse than expectations in dollar
:04:37. > :04:40.terms. China is a crucial driver of the worldwide economy so the data is
:04:41. > :04:46.seen as a snapshot of a global outlook and that uncertainty ranging
:04:47. > :04:50.from commodity prices to the EU debt crisis and the UK leaving the EU
:04:51. > :04:58.bloc continues to mute some activity around the world. The bosses of
:04:59. > :05:01.Britain's biggest companies take home on average $7.2 million per
:05:02. > :05:03.year according to a report by the UK high pay centre.
:05:04. > :05:05.The study found that chief executives of firms on London's FTSE
:05:06. > :05:08.100 index saw their mean average income rise by 10% in 2015.
:05:09. > :05:11.The findings come just weeks after the UK's new prime minister
:05:12. > :05:21.proposed a crackdown on excessive boardroom salaries.
:05:22. > :05:29.You can imagine it's got a lot of people and their tongues wagging
:05:30. > :05:34.today both for and against the high pay. It's a big story on our website
:05:35. > :05:40.as well as our other stories. We have some data which is just come in
:05:41. > :05:43.early today, German industrial production, of course, Germany is a
:05:44. > :05:47.big trade partner with the UK, so there has been some concern about
:05:48. > :05:51.what would happen with German growth. We have German production
:05:52. > :05:57.figures here, growing again in June before the referendum result.
:05:58. > :06:00.Slightly better than expected. A little bit better. All eyes are on
:06:01. > :06:08.Germany to see what impact they will be, if any, on the Brexit about and
:06:09. > :06:13.the end of it. Ben is covering the story. He is tweeting. The longest
:06:14. > :06:18.rail strike since 1968 has begun. A five-day walk-out by members of the
:06:19. > :06:21.RMT union here in the UK, affecting many travellers on the southern
:06:22. > :06:24.network. So do take a look before you set off if you're not already
:06:25. > :06:26.stuck on a train now. You probably are.
:06:27. > :06:28.Japanese Prime Minister Shinzo Abe that his government would take
:06:29. > :06:30."seriously" Emperor Akihito's hint at a possible future abdication.
:06:31. > :06:33.The Japanese Emperor has expressed concern about his ability to carry
:06:34. > :06:54.Our correspondence is in Singapore. This is not an expected news but an
:06:55. > :06:58.enormous story, isn't it, in Japan? Indeed, Sally. Very significant.
:06:59. > :07:02.Only the second time the Japanese emperor has addressed the people of
:07:03. > :07:09.Japan directly. The first time was after that massive earthquake and
:07:10. > :07:13.tsunami in 2011. As he said, we had a report by Japan's national
:07:14. > :07:17.broadcaster saying he was hoping to abdicate, so there was no major
:07:18. > :07:22.surprise except I personally felt his wording was stronger than
:07:23. > :07:27.expected though it was very carefully worded because, under the
:07:28. > :07:31.post-war constitution of Japan, he is Japan's symbol, and not supposed
:07:32. > :07:35.to make any political statements but he made it clear he is increasingly
:07:36. > :07:41.finding it difficult to fulfil his duties as the Emperor. And after
:07:42. > :07:44.that report, about a month ago, there have been a number of opinion
:07:45. > :07:49.polls and it does seem to suggest the majority of the Japanese public
:07:50. > :07:55.seem to support his desire, if that is the case, so the government will
:07:56. > :08:06.now look at a possible law change to make it happen. OK, thank you. Let's
:08:07. > :08:10.check in with the markets. The same picture right across Asia at the
:08:11. > :08:14.moment, towards one-year highs full to the dollar has strengthened.
:08:15. > :08:16.Expectations of a rate rise are round about 47% after that stunning
:08:17. > :08:21.jobs number we had on Friday. The payroll data signals a recovery
:08:22. > :08:24.in spending power and the overall US economy, and that's
:08:25. > :08:25.driving positive sentiment. This is how the picture has
:08:26. > :08:40.opened up across Europe. Let's have a quick look and speak to
:08:41. > :08:48.our correspondence about Wall Street today. Company United spirits and
:08:49. > :08:53.others supporting financials. The price of oil has been low but it's
:08:54. > :08:57.starting to increase and that could impact the future outlooks for some
:08:58. > :09:05.airlines. Other companies are reporting earnings later this week
:09:06. > :09:11.including Disney, China's online retailer, Ali baba, and American
:09:12. > :09:15.department store Macy's. Speaking of Macy's, US retail sales for July are
:09:16. > :09:20.released this week and these are important since two thirds of the US
:09:21. > :09:24.economy depends on consumer spending. Economists suggest those
:09:25. > :09:28.numbers continued their upward climb and will show that the last three
:09:29. > :09:34.months will be the country's strongest consumer spending numbers
:09:35. > :09:42.since the end of 2014. Thank you. James is with us. Nice to see it.
:09:43. > :09:50.Are you a smooth the kind of man or not? I'm talking about... I don't
:09:51. > :09:54.drink smoothies, put it that way. I'm not an overly healthy person
:09:55. > :09:57.particularly anyway. Healthy eating isn't necessarily one of my forte
:09:58. > :10:03.is. I imagine all your colleagues are grabbing smoothies on the way to
:10:04. > :10:08.the trading floor, surely? Yes, kind. Depends what kind of person
:10:09. > :10:13.you are. I'm trying to push this up as much as I can but mainly coffee.
:10:14. > :10:20.Lots of caffeine. China data and the trade debt, we've not mention that,
:10:21. > :10:25.but it's 21 months in a row of exports coming down for the are we
:10:26. > :10:30.worried? Yes, it is worrying the full Chinese data is it is bad and
:10:31. > :10:35.continues to be bad and the market grabs onto it, big movements on the
:10:36. > :10:39.back of it but then something else comes along, we ignore the negative
:10:40. > :10:43.Chinese data which continues to be there. Once we get strong data out
:10:44. > :10:48.of the US, and something else negative on a Sunday night, from
:10:49. > :10:53.China, we grab onto that straightaway again, but these
:10:54. > :11:00.numbers are bad for the 4.4% down in exports, around 12% in dollar terms,
:11:01. > :11:03.so massive, OK, it's... Market is not necessarily phased but we had
:11:04. > :11:07.good news last week but we got to look for something negative to grab
:11:08. > :11:10.onto. I wonder whether or not be imported picture is a bit more
:11:11. > :11:17.concerning because that had fallen quite a lot and that suggests that a
:11:18. > :11:22.bit of a waning in domestic demand. For the rest of the world, that can
:11:23. > :11:25.be a very big deal. That's the key thing we have in China for the
:11:26. > :11:28.domestically, things are not looking particularly good and anything which
:11:29. > :11:32.has been negative domestically has been helped by the export picture
:11:33. > :11:36.but with both of them being so negative at the moment, it paints a
:11:37. > :11:40.pretty unhealthy picture going forward. China are trying to do
:11:41. > :11:44.something with the economic policy that as we know, monetary policy
:11:45. > :11:49.around the world, poor economic, don't necessarily always help so
:11:50. > :11:51.that the picture we have got. Fire all your bollard early, there's not
:11:52. > :11:58.much you can do when things continue to go wrong. James, thank you. --
:11:59. > :12:04.bullets. I won't be offering you a smoothly, though. A strong coffee.
:12:05. > :12:08.Still to come, making a smoothly a success story. We will meet the
:12:09. > :12:14.fastest-growing smoothie company in the UK and asking what is their
:12:15. > :12:20.recipe for success. You are with business life from BBC News. Let's
:12:21. > :12:23.analyse the fact that in this country apparently, we are a nation
:12:24. > :12:30.of shoppers, restaurant goers, and drinkers. So says various research
:12:31. > :12:34.coming out lately. Yes, a fresh report out today from these for the
:12:35. > :12:38.babe released figures suggesting consumer spending rose last month,
:12:39. > :12:45.despite concerns about the wider economy. Why were their concerns?
:12:46. > :12:50.Brexit. Should I say that word? Ruth Gregory is from capital economic.
:12:51. > :12:53.Why are we spending so much in July? It seems that consumers were
:12:54. > :13:00.enjoying the warm weather in July by spending more on things like new
:13:01. > :13:02.clothing, meals out and day trips. That is quite reassuring given the
:13:03. > :13:09.thoroughly downbeat consumer related services we had recently. It
:13:10. > :13:16.suggests consumer spending held up in July by more than some of these
:13:17. > :13:19.things had originally thought. So perhaps some of these economic
:13:20. > :13:24.reports that are predicting a really rough time ahead for the UK economy
:13:25. > :13:28.might not necessarily be true? I think we should be more cautious
:13:29. > :13:31.about putting weight on just one month's data. If you look at the
:13:32. > :13:35.underlying trend, growth was weaker than earlier in the year so there is
:13:36. > :13:40.still a slowing trend and, given that we have got weaker confidence,
:13:41. > :13:47.the pound has fallen by around 10% since the referendum, which would
:13:48. > :13:51.increase retail prices, and eat into household spending power, we were
:13:52. > :13:55.expecting fairly subdued growth for the rest of this year. What sort of
:13:56. > :14:02.lag time do we normally see between downturns in sentiment and what
:14:03. > :14:07.we've seen from constructor in sector and services, to how it
:14:08. > :14:10.impacts consumers and a real sentiment on the street? Some of the
:14:11. > :14:16.survey evidence we've had so far has been about the especially turbulent
:14:17. > :14:19.period immediately after the referendum so it's not clear how
:14:20. > :14:24.much of this reflects the knee jerk reaction and initial shock factor so
:14:25. > :14:28.it will take some time before we get a feel of what the clear impact has
:14:29. > :14:33.been. Indeed, we won't have any hard data on consumer spending growth
:14:34. > :14:37.until at least September or October. OK, wonderful, thank you very much.
:14:38. > :14:45.Now a quick look at some of the stories on our web page. The CEO of
:14:46. > :14:47.WPP, the highest-paid FTSE 100 boss on the day high pay is
:14:48. > :15:00.controversial. This is the UK's serious fraud
:15:01. > :15:05.Office launches a criminal investigation into Europe's biggest
:15:06. > :15:10.aircraft manufacturer, Airbus. Let's show you how the markets are doing.
:15:11. > :15:14.A new trading week under way. They are headed up and higher in Europe
:15:15. > :15:17.across the board after a strong session overnight in Asia, with the
:15:18. > :15:22.Japan market closing on a high. And now to the world of beverages
:15:23. > :15:25.and health food fads. We're talking Savse smoothies,
:15:26. > :15:27.which is the fastest growing In just three years,
:15:28. > :15:30.the company has turned into a $13 million turnover business
:15:31. > :15:33.And while there's a decline generally in the business,
:15:34. > :15:35.Savse has seen a 600% increase The word 'savse' means crammed full
:15:36. > :15:43.of goodness in Georgian. And the idea came when the founder's
:15:44. > :15:46.mum was pregnant and had to start making her own smoothies
:15:47. > :15:50.to combat iron deficiency - Guka Tavberidsy is the founder
:15:51. > :16:09.and chief executive Welcome to the programme. Thank you.
:16:10. > :16:16.It is a pleasure to be here. This is really your mum's recipe, 38 years
:16:17. > :16:24.in the making. How hard was it to turn from your mum's kitchen into a
:16:25. > :16:28.business? It was very challenging but very exciting. It was around
:16:29. > :16:34.five years ago that I wanted to start something of my own. I wanted
:16:35. > :16:37.to start something with the right values and watch it grow into
:16:38. > :16:45.something spectacular. But I literally had no idea how to start.
:16:46. > :16:48.I had no experience. I had no degree. Just a normal guy with a
:16:49. > :16:54.dreamer wanting to do something on my own. Humble beginnings. The first
:16:55. > :16:58.couple of years of setting up the brand and launching it generally, I
:16:59. > :17:06.was actually sleeping on my mother's couch! That was my meeting room,
:17:07. > :17:09.bedroom, everything. It was quite challenging. But as an early
:17:10. > :17:14.entrepreneur you are willing to do what it takes. You have managed to
:17:15. > :17:20.pull it off. You didn't go to business school. But you were very
:17:21. > :17:26.passionate about your product. How did you manage to get these
:17:27. > :17:29.smoothies from your mum's kitchen onto the shelves of supermarkets in
:17:30. > :17:36.this country, being sold by the millions? The first question I asked
:17:37. > :17:42.myself was, why aren't other companies making smoothies which are
:17:43. > :17:48.nutritious? The drinks were he'd pasteurised, made with powders and
:17:49. > :17:52.additives. Loads of sugar as well. Absolutely. There was definitely a
:17:53. > :17:56.gap in the market. The key challenge for me was how to take this from my
:17:57. > :18:01.mother 's kitchen and put them on the shop floor is without
:18:02. > :18:05.compromising on the taste, quality and nutrition of the drink.
:18:06. > :18:09.Initially I was advised the pasteurisation was the only way. If
:18:10. > :18:14.I didn't follow through on this method, I would not have a business.
:18:15. > :18:18.I absolutely refused, purely because I wanted to stay faithful to the
:18:19. > :18:24.consumers and to the values of my mother, the way she was making them
:18:25. > :18:29.in her kitchen. Some of the bigger, better known competitors, use a
:18:30. > :18:34.different process, a heat pasteurisation process and powders,
:18:35. > :18:38.which is not as authentic and natural. That is why your smoothies
:18:39. > :18:47.are wider bit more to buy them say the bigger names we have heard of.
:18:48. > :18:53.Yes, you are effectively cooking the ingredients to 71 degrees. Once you
:18:54. > :18:57.cook them to 71 degrees twice, you are stripping it of all nutrition
:18:58. > :19:03.left in the drink. The way we make it is totally different. We use cold
:19:04. > :19:08.pressing. You are preparing the ingredients in their natural form.
:19:09. > :19:18.These ingredients are then blended. When they are blended, the recipe is
:19:19. > :19:22.bottled. You have got purple, orange, green, white. Those are
:19:23. > :19:29.similar looking in colour. To lots of others. They are more expensive.
:19:30. > :19:33.Two people who do not know the brand and do not know about the fact that
:19:34. > :19:38.cold press is better for you, why would people go out and buy this one
:19:39. > :19:45.the one that looks really similar to it is maybe ?1, $1 cheaper. Us? This
:19:46. > :19:50.is the challenge we face as a brand. Something we're looking to overcome.
:19:51. > :19:54.It is important to us that we do talks like this and get as much
:19:55. > :19:58.noise out there as possible that cold pressing is better for the
:19:59. > :20:03.consumers. They get a fresher product. So much more to discuss.
:20:04. > :20:06.But we are out of time. Thank you so much for coming in. We wish you all
:20:07. > :20:10.the best. Thank you very much. In a moment, we'll take a look
:20:11. > :20:13.through the Business Pages but first here's a quick reminder of how
:20:14. > :20:20.to get in touch with us. The business life pages where you
:20:21. > :20:25.can stay ahead of all the breaking business news. We will keep you
:20:26. > :20:28.up-to-date with the latest details, with insight and analysis from our
:20:29. > :20:38.team of editors around the world. We want to hear from you. Get involved
:20:39. > :20:48.on the Business Live web page. On Twitter. And on Facebook.
:20:49. > :20:55.We are now going to look at some of the stories in the papers. And they
:20:56. > :21:00.are dominated by one certain individual today, yet again. It is
:21:01. > :21:07.the Republican nominee for the presidential job, Donald Trump. And
:21:08. > :21:13.we have got Jacob here, assistant head at Chatham House. Let's start
:21:14. > :21:17.with a story in the financial Times that lays out the story about what
:21:18. > :21:22.we're going to hear today. Donald Trump will be talking about the
:21:23. > :21:26.economy later. He has had what might be the worst couple of weeks in any
:21:27. > :21:32.moderate presidential campaign history. He got into a lengthy fight
:21:33. > :21:36.with the family of a slain US soldier. He feuded with a baby. It
:21:37. > :21:41.has not been a good couple of weeks. You have seen his popularity sliding
:21:42. > :21:47.and Hillary Clinton's increasing to the extent that she is about seven
:21:48. > :21:52.points ahead. Trump is trying to rebuild his campaign. He is trying
:21:53. > :21:58.to focus on the economy and say, I am the candidate. Previously he has
:21:59. > :22:02.talked about security and protecting America. Now he wants to talk about
:22:03. > :22:07.protecting American jobs and the American economy. Will he convince
:22:08. > :22:12.voters when it comes to the issue of the economy? DfT says one of the
:22:13. > :22:16.things he is going to propose is that he will be able to double
:22:17. > :22:25.growth of the world's biggest economy? Is that feasible? Many say
:22:26. > :22:28.is policies don't add up. His spending plans don't add up. They
:22:29. > :22:34.would add an enormous amount to the deficit. He has not provided
:22:35. > :22:42.anything except for unspecified growth. We don't really know what
:22:43. > :22:49.the impact would be. No one has really tried to turn back the clock
:22:50. > :22:52.on American economic policy the way Trump is talking about, to penalise
:22:53. > :22:58.American companies are outsourcing jobs. There is not a lot of evidence
:22:59. > :23:00.either way. The weight of conventional evidence would suggest
:23:01. > :23:05.he would be adding an enormous amount to the deficit without
:23:06. > :23:10.bringing in Acomb parable amount in terms of tax receipts. Lots of
:23:11. > :23:15.people around the world have been quite surprised by the rise of
:23:16. > :23:19.Trump. People say he has been a lightning rod for populism and
:23:20. > :23:23.anxiety and fear in the country. There is a Wall Street Journal
:23:24. > :23:28.article today about discord, about what voters really care about. This
:23:29. > :23:34.says it is not wages. This is not the problem when it comes to the
:23:35. > :23:40.economy. In a way his economic reboot comes at a bad time. There
:23:41. > :23:44.was a report on jobs which was quite good. The American economy has
:23:45. > :23:47.continued to grow fairly strongly in recent months. That makes it
:23:48. > :23:51.difficult for Trump to sell this message that the economy is broken
:23:52. > :23:56.and only he can fix it. There is a lot of evidence. Trump voters are
:23:57. > :24:02.actually wealthier than the media in America, according to some evidence.
:24:03. > :24:06.Instead of those who are left behind, you have got this much more
:24:07. > :24:11.upwardly mobile group of small business holders who were supporting
:24:12. > :24:17.Trump. That suggests he is trying to appeal to voters who want to see
:24:18. > :24:21.some sort of vague idea of America of the past, to make America great
:24:22. > :24:25.again. It is interesting you should say that. We have all had the
:24:26. > :24:30.assumption that the factory floor man and woman he has been appealing
:24:31. > :24:34.to, those who want to devote four Bernie Sanders but can't now? I
:24:35. > :24:41.don't think there is a lot of crossover between Bernie Sanders
:24:42. > :24:46.folders and Trump voters. Trump is in fourth place among voters under
:24:47. > :24:49.30. Sanders won massive margins among that demographic. Trump is
:24:50. > :24:56.using to the Green Party and Libertarian candidates. A lot of
:24:57. > :25:02.people who voted for sanders will not vote for Trump. There are major
:25:03. > :25:10.issues between Trump and Clinton on the economy. What are they? I would
:25:11. > :25:14.say primarily trade. Clinton is not a born and bred free-trade. She is
:25:15. > :25:21.more willing to countenance it than Trump is. I would say taxes. She
:25:22. > :25:28.wants to increase tax rates. Trump wants to cut them. Clinton for
:25:29. > :25:31.education and Trump for business and manufacturing. Perfectly summarised.
:25:32. > :25:33.You can come back. There will be more business news
:25:34. > :25:38.throughout the day on the BBC Live webpage and on World
:25:39. > :25:40.Business Report.