31/08/2016 BBC Business Live

This is Business Live from BBC News with Sally Bundock and Ben Bland.

Pressure mounts against President Dilma Rousseff at her

impeachment trial as her opponents make their final arguments.

Live from London, that's our top story on Wednesday

Brazil's suspended president, Dilma Rousseff, finds out if she'll

Also in the programme: Chaos in Mumbai as thousands

of auto-rickshaw drivers go on strike because of lack

of regulation covering ride-hailing app services.

And the markets are open in trade in Europe, and they are all headed down

slightly. We will talk you through slightly. We will talk you through

the winners and losers. And we'll be getting

the inside track on one company's quest to find a solution

to the Zika epidemic. And as Indian auto-rickshaw drivers

go on strike in Mumbai because of services like Uber,

today we want to know: Does this mean that every method of transport

now needs to have an app? The impeachment trial of Brazil's

first female President, Dilma Rousseff is approaching it's

final stage with a vote Ms Rousseff is accused of illegally

manipulating government accounts to hide excessive

spending by the state. Despite this, last year

the government still ran a budget deficit -

that's the difference between spending and tax revenue -

worth more than 10% And the government's finances aren't

the only the problem facing Inflation currently stands at 9%,

double the target rate set This sustained rise in the cost

of living has only made things worse for the 11 million people in Brazil

without a job. He's an emerging market

economist at the research What is the expectation about what

is going to happen? Will she survive, or will she be removed

permanently? It would be a huge shock if she was not removed

permanently. We have had so many hurdles we have moved through, votes

in the lower and upper house, and this is the final hurdle and would

be a huge shock if she were to somehow come back from this. We

fully expect her to be ousted. Have you seen much of a market reaction

to the beginning of the impeachment trial? Brazilian markets have

rallied strongly since the start of the year, they have performed well

in the emerging world, that is to do with two things, one is the rising

commodity prices and external factors, and the other is Dilma and.

But even if Dilma Rousseff is impeached and there is a change of

government, there is still a lot going on politically. There are many

other politicians on both sides of the camp being investigated.

Absolutely, that is one of the sticking points. There are

implications for others in the scandal, and it is a clear risk,

should the administration continue on to 2018. And you mention Michelle

Tanner, the acting president, but if Dilma Rousseff is removed, he would

stay on as president, and he might introduce austerity measures the

public didn't vote for. He has already started to employment

austerity drives, and the markets like that. As you mentioned, the

budget deficit is huge, and it needs to be closed, but the electorate,

painful austerity is never good for painful austerity is never good for

an electorate. In the meantime, other headwinds constant, the low

commodity prices, the price of oil historically low, so that still has

a real issue for Brazil? Of course, the price of its exports is still

the economy is weak and the economic the economy is weak and the economic

recovery week. Data later is expected to show the economy still

in recession, although things are improving. Edward Glossop, thank you

for talking is through that. Soon as we hear the outcome of that meeting,

we will let you know an BBC One is. Let's round up some other News for

you now. South Korea's largest shipper

has reportedly applied for receivership after its creditors

decided to stop pumping in money. Hanjin Shipping had piled

up debts of $5 billion Like many in the shipping

industry, it's been hit hard by the slowing global economy

and lower freight rates. So far there's been no

comment from the company. Canada's Prime Minister Justin

Trudeau has arrived in Beijing on a trip which was supposed to be

about deepening Canada's Despite the fanfare,

a disagreement over Canadian canola, or rape seed oil,

exports to China is Google is to take on Uber

with a new car-pooling app that will let commuters give others

going the same way a lift. The Waze app gives traffic

conditions and driving Since May, the firm has been

running a pilot service which uses Waze to connect drivers

and passengers near its If successful, Google may look to

expand the service to other cities. The move may undercut its rivals

as Waze charges cheaper rates. I was just thinking about this whole

thing of hailing something with an app. You have never used Uber or

Halo or any of the others? Know, have you?

How do you get around? Legs! It is the healthy option. Let's get more

on the subject. Now to Mumbai - where commuters have

had a chaotic start to the day. More than 80,000 auto

rickshaws are on strike. They're demanding stricter

regulation for taxi services Divya Arya is in Mumbai

for us this morning. There she is! What impact has this

had? The junction behind me used to be busy everyday, full of auto

rickshaws, but today, there is only one autorickshaw to be seen, and

traffic is thinner. That is because, as you said, the autorickshaws are

on strike demanding regulation of taxi services like Uber and its

Indian equivalent, Ola. This has caused a lot of inconvenience to

commuters, and some of those I spoke to earlier said it is ironic that

because the autorickshaw is our on strike, we are now dependent on the

hailing services to get to where we need to be. Mumbai residents depend

a lot on the suburban railway system, but that doesn't come to

that house, so to go to and from the railway station, people have become

more and more dependent on rickshaws and taxis, and today hasn't been a

great day for them. But from the rickshaws' perspective, the taxi

services have meant loss of business for them, and they say that whole

problem is with the surge pricing which enables apps based taxi

services to drastically reduce their fares when the demand is low, making

it may be cheaper to travel by taxi as compare to a rickshaw. The

government is keen to talk to the trade unions and resolve this and

reach a consensus. At the same time, it doesn't want to be seen as

business on friendly, especially when there is new business like Uber

now coming to India. Thank you very much, Divya, good to see you live in

Mumbai. Looking at markets in Asia today, it is a mixed picture. Apple

shares down just a percent following the big decision coming from the

European Commission, we will talk about that later. Japan closing at a

one-month high today, the yen much weaker than it has been, weaker

since July. That boosted exports listed on the stocks. The price of

oil still edging down slightly, it dropped 1.3% in about 30 minutes

yesterday afternoon in rumours that Iran was going to increase its

supply of oil, but energy stocks having a tough time still, oil

around $48 a barrel. Let's have a look ahead to what is going on in

the US. Michelle Fleury is therefore as. Janet Yellen said last week that

a case for a rate rise was strengthening for the US reserve.

Economic aid is being viewed through that lens, including the latest

report on private employers due out on Wednesday. Payrolls processor ADP

is likely to say that private employers hired 176,000 workers in

August, a sign ahead of Friday's government jobs report that US

employment is continuing to make solid gains. In other areas,

progress in the housing market, contracts to buy previously owned

homes are believed to have increased 0.6% in July. This is after they

rose 0.2% in June. And in corporate news, the growth of cloud computing

is believed to have given a boost to sales force .com's second-quarter

earnings. The cloud software maker is expected to report a rise in

revenue. Joining us is Tom Stevenson,

Investment Director Good to see you. Jobs figures out

from the US, it seems all the markets are holding their breath

waiting. The markets are quiet, it is still the holiday lull, but they

are looking forward to what the Fed will do in three weeks, and the

first indication of what they might do on September the 21st will be

provided by the payrolls on Friday, but before that, later today, ADP

jobs figures sometimes can be a bit of a sneak preview of what they will

look like. What do you think they will do on the 21st of September? I

am putting you on the spot! You are, and the market is split on this. I

think they will probably hold fire, the slower the longer rates

environment is turning to eight lower forever rates environment, the

Fed will find it very difficult to raise rates,. What about the

election? I think that makes it less likely that they will move now, they

will wait for the election to be out of the way. It is quite close to the

election, September the 21st. Some interesting moves that will take

effect on Monday, one house-builder out, a gold mine in, out of the FTSE

100. Every three months, the FTSE 100 rejig is itself, and companies

that have lost so much value they have fallen below 110th in the

rankings for light. Berkeley homes will for light, it's shares have

fallen 90% since Brexit despite the fact that prices have bounced back

since Brexit, and a Russian gold mine is coming in. Very interesting,

thank you, Tom. We will see you later and talk through some

newspapers. Still to come, we'll hear about one

company's attempt to find a solution to one of the world's fastest

spreading diseases, You're with Business Live from BBC

News. Pregnant women and new mums need

more protection at work - that's according to a group of MPs

who say there has been a "shocking" The Women and Equalities Committee

is calling for the Government to act following a report published

earlier this year which indicated that the number forced

to leave their jobs after giving birth has almost doubled

to 54,000 since 2005. But last year it was revealed that

tens of thousands of women Pregnant women and new mothers now

face more discrimination at work More than one in ten surveyed said

they had been dismissed, made redundant, or treated so badly

they had to leave their jobs. It was the largest survey

of its kind, so what should be A committee of MPs have

laid out what they think The MPs want to see a German-style

system where pregnant women and new mums can be dismissed only

in exceptional circumstances They also want a substantial cut

to the cost of bringing a discrimination case

to an employment tribunal. And they want paid time off

for antenatal appointments for casual, agency,

and zero-hours workers. Others believe it is more

important to change attitudes and educate women instead

of changing employment laws. The Government says it

will carefully consider Lots more on that story on our

website. Do take a look, and there are case studies as well. We have

talked to women with various experiences when it comes to going

back to work after pregnancy. I am trying to find the story. We have

had a nationwide house price rise in August, excuse our system, we don't

seem to be loading images at the moment, but it is talking about

house prices going up 0.6% in August. The pick-up price in growth

somewhat at odds with the size of the housing market according to the

Nationwide's chief economist. New buyer enquiries have soft and --

softened after the additional stamp duty on second homes. That is all on

our website, along with other stories.

You're watching Business Live, our top story:

Brazil's suspended President, Dilma Rousseff, finds out if she'll

be permanently removed from office, today.

When we hear news on that, we will update you.

A quick look at how markets are faring.

Treading water today, not a significant direction in either, but

some of the energy companies losing ground still as the price of oil

remains softer than it has of late. Let's get the Inside Track

on the quest to cure one of the world's

fastest-spreading diseases. The Zika virus will cost the global

economy $3.5 billion this year, according to the World Health

Organization. Cambridge-based start-up Excivion

has received ?500,000 in government funding to develop a vaccine

for the disease. The new technology hopes to remove

the need for cold storage and distribution of vaccines,

allowing for stockpiling of vaccines With us is Peter Laing,

Chief Executive of Excivion, As a start up, a small company, how

can you compete, when it comes to developing a vaccine against zika

when you are up against some of the giants of the pharmaceutical world?

It is all about insight and intellectual property. If you have a

good idea and you are able to get a granted patent on that idea and you

can develop that as a product, you can fend off hostile takeover bids

from larger companies and you can develop a product. The basis of the

company is intellectual property. It's all based around having a

vaccine against zika, which will fight off the virus but also fight

off its close cousin, dengue, because they go hand in hand and

help each other around the world. The reason you are particularly

interested in zika and dainty, that is your history, the science you

were looking into two years ago -- Dinky fever. I used to be a lecturer

at University of Nottingham. I left in 1994 to join a company and I was

RND director of that company and a number of other companies in the

vaccine field. The opportunity arose to develop a Zico vaccine product. I

had an idea of how to do it, a different idea. I filed a patent, we

have a pending patent. What about the outbreak in Brazil, it was

coming up to the Olympics, so much in the news, and it has pledged to

Florida as well. Does that mean you get more interest, more funding from

organisations? You do. It has really impressed the governments of these

countries. And also non-governmental organisations, the world over. It's

a grave humanitarian crisis that is giving rise to babies with

microcephaly. Many companies are in the race to find a way to stop it.

The unique things that Excivion has is a new way of doing that, which

will also work against these other viruses and work against them

working together. What if you don't win the race, though? There is room

for multiple products in the field. If you look at other vaccines, there

are multiple vaccines against diphtheria and so on.

The race is on, but the race is on where people develop just a Zico

vaccine or its cousin, -- zika vaccine or its cousin, dengue. It

could trump these other products. How soon do you expect to have a

vaccine out there that is marketable, affordable and being

used? The WHO emergency will result in

fast track approval of vaccines in the field. Vaccine typically take

10-15 years, to develop. I think we could be on the market with a

vaccine in about seven years. I would love to say less, but safety

is the most important thing. A lot of vaccine development is about

proving safety as one as efficacy. Briefly, we are running out of time,

what's fascinating as wild as you and your wife are running this

company. You contract in the expertise. The men and women in the

white coats in labs are not in a building near you, they are all over

the world. That's right. We have people working for us in India, in

the US and in Europe and the UK. We can pick and choose the best talents

to put together, to achieve the objectives, without having to have a

huge infrastructure from the outset. It is a way that a lot of start-up

companies begin. We aspire to have our own premises and our own labs

and I have directed big labs. When will you get bored by a big Pharma

company? I don't want to get bought by a big Pharma company. I would

like to license the technology to a big Pharma company and develop new

projects about a Japanese virus which you will hear about in due

course. We will keep an eye on how things are going. Thank you. Thank

you. In a moment, we'll take a look

through the Business Pages but first here's a quick reminder of how

to get in touch with us. You can stay ahead with all the

Dave's breaking business news, we will keep you up-to-date with the

latest details -- all of the day's. We have BBC editors around the

world. We want to hear from you, get involved on the BBC business live

web page. Business live, on TV and online,

whenever you need to know. Let's take a look at some

of the stories in the papers. Tom Stevenson from Fidelity

Worldwide Investments Thanks very much. We've been talking

about these a while ago, the Apple ruling, EU Apple ruling, there is a

threat of a split in the new Irish government. What should they do in

terms of this appeal? This is coalition government at work.

Different sides of the coalition in Ireland have different agendas,

here. It is quite difficult to see that they won't appeal. Not to

appeal against this ruling would effectively be a tacit admission of

providing illegal state aid. That is extremely unlikely. I think it would

also be an admission that Brussels is right to interfere in national

tax policy. Ireland is unlikely to do that because it's tax

competitiveness is a key selling point for Ireland. We are in a

situation where it is a race to the bottom when it comes to corporation

tax around the world with government trying to attract the

multinationals. That's right. Countries around the world are

trying to attract multinationals. It's interesting to see how the UK

will respond to this. They say we are open for business. Theresa May

opening the Cabinet at Chequers today. I am sure this will be on the

agenda. As we move away from the EU, over time, then our competitiveness

and our tax competitiveness will become very important. Presumably

even if they don't change the corporation tax rate in the UK,

simply big multinationals, you will not get a situation that you had

with the EU where suddenly you are hit with an unexpected tax bill.

That will appeal very much, wouldn't it? That is why the Irish government

is so furious about this. They have really been undermined by the EU.

What would you want to pick? English Premier League?

Smashes window record. I must admit, I am not surprised to hear this,

this story comes around again and again and yet the figures go up and

up. It seems like there are no breaks. They do go up and the window

closes today at midnight tonight. For three months. It looks like

about ?1 billion will be spent on transfers. Interestingly, that is

actually less in terms of a proportion of football club's

revenues than it was a few years ago. It is not that they are being

irresponsible, but it is the amount of money flowing in from TV rights

is so enormous. Who pays for it? Is it the fans? Ticket prices?

Television rights pay for it. Subscribers to TV programmes. Let's

talk about apps. Do you use apps to get a taxi? I have used Uber. No

need to mention the company. Halo. , etc. We asked whether every mode of

transport needs and apt to survive. Every business, regardless of what

you should do, should have a nap, how can I take them seriously when

they don't have an app? Every business needs an app? Yes,

everybody walks around with a smartphone and that is how you

access them. Good point. Good to see you.

Not a bad day today, not just as warm as