:00:00. > :00:08.This is Business Live from BBC News, with Rachel Horne and Sally Bundock.
:00:09. > :00:11.Britain's Brexit Minister meets with the European Parliament's chief
:00:12. > :00:15.negotiator in the next few hours, but will they see eye to eye?
:00:16. > :00:35.Live from London, that's our top story on Tuesday 22nd November.
:00:36. > :00:38.The EU says no single market without free movement of people,
:00:39. > :00:42.but the UK says other countries have access without this
:00:43. > :00:47.Also in the programme, Trump trashes TPP.
:00:48. > :00:52.After seven years of painstaking negotiations the US President-elect
:00:53. > :00:56.says he will quit the deal on his first day in office.
:00:57. > :01:01.And, what is the butterfly kite mark, and is it making a difference?
:01:02. > :01:08.Asian stocks are up, all for American markets hit highs
:01:09. > :01:11.yesterday, and in Europe they following the global rally.
:01:12. > :01:14.And, what is the butterfly kite mark, and is it making a difference?
:01:15. > :01:16.That's a conversation we'll be having with its creator.
:01:17. > :01:20.The aim is to give high-end brands a social seal of approval.
:01:21. > :01:22.And today we want to know, have you got an appetite
:01:23. > :01:27.Apparently, this is the answer to the global food shortage
:01:28. > :01:43.Get in touch, just use the hashtag #BBCBizLive.
:01:44. > :01:48.It may not be a boxing match but there's no doubt that those
:01:49. > :01:53.involved in the upcoming Brexit negotiations will come out swinging,
:01:54. > :01:56.as both sides look to get the best-possible deal.
:01:57. > :02:00.In the next few hours the UK's Brexit Secretary David Davis, this
:02:01. > :02:05.guy, will meet with his counterpart, Guy Verhofstadt, and both gentlemen
:02:06. > :02:10.Mr Verhofstadt has said that if the UK wants to remain part
:02:11. > :02:13.of the single market, it will have to accept the free
:02:14. > :02:17.But Mr Davis says that about 40 countries have some sort
:02:18. > :02:22.of free-trade agreement with Europe without a deal on migration
:02:23. > :02:28.If a deal can't be done before the UK leaves the EU,
:02:29. > :02:31.and it's a distinct possibility, the UK would trade with the bloc
:02:32. > :02:35.under World Trade Organisation rules, pending a possible
:02:36. > :02:50.Andrew Walker, our economics correspondent, is here.
:02:51. > :02:58.It is interesting, David Davis is doing the rounds, speaking to the
:02:59. > :03:02.European Commission's negotiated yesterday, now the European
:03:03. > :03:06.Parliament's negotiator. The parliament does matter, the famous
:03:07. > :03:10.article 50, which has not been triggered yet, does say that any
:03:11. > :03:15.agreement that is reached between the exiting country and the rest of
:03:16. > :03:22.the EU has to be agreed by the member states, by a majority, but it
:03:23. > :03:26.first needs to have the consent of the European Parliament, so if there
:03:27. > :03:31.is going to be an Article 50 agreement, the people that the
:03:32. > :03:37.European Parliament is representing have to give their consent. When the
:03:38. > :03:41.EU appointed him, Nigel Farage was very forthright in his opinions on
:03:42. > :03:47.how that will go, he said the EU has declared war on negotiations. He is
:03:48. > :03:53.very much from the federal and of the spectrum on political views
:03:54. > :04:00.former Belgian Prime Minister, he former Belgian Prime Minister, he
:04:01. > :04:06.would like to see deeper you reap -- European integration. It is expected
:04:07. > :04:16.to be prickly, tellers about the background. David Davis has
:04:17. > :04:20.expressed some strong views about Shifa Hospital out, he is alleged to
:04:21. > :04:28.have said in the past, get behind me, Satan, when his name was
:04:29. > :04:32.mentioned. He himself has set out red lines about his views about
:04:33. > :04:38.where the negotiation should go. No full access to the European single
:04:39. > :04:44.market without some sort of corresponding free movement of
:04:45. > :04:47.people to work across in the UK and the EU. It is true there are
:04:48. > :04:52.countries that have substantial access to the EU single market
:04:53. > :04:58.without the agreement, but it is not the degree of full barrier free
:04:59. > :05:04.access that you have if you are a member. Like all of these
:05:05. > :05:10.discussions, we are not going to know what has been said, we are just
:05:11. > :05:17.going to get the party line after the private discussion. Yes, and the
:05:18. > :05:22.view coming from big Europeans has been not any informal negotiations
:05:23. > :05:29.before the triggering of article 50 takes Place, so no doubt they will
:05:30. > :05:33.be exchanging views, but they will say, no, we have not been
:05:34. > :05:41.negotiating as such. A lot more on that on our website. Nigel Farage
:05:42. > :05:42.was going to be our guest, but he perhaps had other things to do, a
:05:43. > :05:44.call from the US, perhaps. South Korea's troubled shipping firm
:05:45. > :05:48.Hanjin will sell part of its container-ship business
:05:49. > :05:51.to Korea Line in a $31 million deal. Korea Line will take over Hanjin's
:05:52. > :05:54.operations in seven countries, In those markets, the new owner
:05:55. > :05:59.will manage the shipping routes as well as assets and manpower
:06:00. > :06:02.related to Hanjin's Brazil's government has
:06:03. > :06:07.cut its economic growth forecast for next year
:06:08. > :06:12.to 1%, from 1.6%. It also says the economy
:06:13. > :06:16.will contract this year by 3.5%, The news echoes recent market
:06:17. > :06:21.pessimism as the country struggles to exit its worst
:06:22. > :06:27.recession in decades. Britain's Finance Minister Philip
:06:28. > :06:29.Hammond is expected to announce a $500 million investment
:06:30. > :06:33.into fibre broadband. He's due to say that the UK must
:06:34. > :06:36.move towards providing fibre Currently, only 2% of the UK has
:06:37. > :06:56.access to fibre internet. As we have just been discussing,
:06:57. > :07:03.President-elect Donald Trump says the US will quit
:07:04. > :07:04.the Trans-Pacific Partnership trade deal on his first
:07:05. > :07:18.day in the White House. What has been the reaction? Only
:07:19. > :07:24.yesterday Asian leaders agreed that they would continue pursuing
:07:25. > :07:27.free-trade and the TPP, which would lower trade and investment barriers
:07:28. > :07:32.among the countries come which account for 40% of the global GDP,
:07:33. > :07:37.but now, without the United States, Japan is seen as the catalyst for
:07:38. > :07:42.the TPP, but even the Japanese Prime Minister says that it is meaningless
:07:43. > :07:46.without America, so the fate is somewhat uncertain. We have been
:07:47. > :07:53.speaking to some governments in the region, seeking statements, and the
:07:54. > :07:56.rest of the TPP nations, 11 countries, will continue issuing it,
:07:57. > :08:03.in a hope that America will change its mind at one point all stop the
:08:04. > :08:08.TPP is no longer what it could have been, but Asian nations would still
:08:09. > :08:11.consider pursuing it. It will be interesting to see what is going
:08:12. > :08:17.through the minds of those in China, they were not a part of TPP, perhaps
:08:18. > :08:22.they feel they are winning as a side bar in this story. Indeed. Many
:08:23. > :08:30.analysts seem to think that China is the winner in this case. As you
:08:31. > :08:33.mentioned, China is not part of TPP. It was Barack Obama's way of saying
:08:34. > :08:40.that America remains the leader in the region. Now, if Donald Trump
:08:41. > :08:46.does scrap joining the TPP, does it mean that China could fill that gap?
:08:47. > :08:51.Some are sceptical, because some leaders in the region are quite
:08:52. > :08:54.concerned about China's export machine, but it has been issuing its
:08:55. > :08:56.own free-trade deal, and it appears that it is winning quite a bit in
:08:57. > :08:59.this deal. Markets in Asia climbed
:09:00. > :09:03.for a second day following big gains on Wall Street,
:09:04. > :09:06.pushed by an surge in oil, as hopes grow that Opec,
:09:07. > :09:09.the Organization of the Petroleum Exporting Countries,
:09:10. > :09:10.will give the green light In Europe yesterday,
:09:11. > :09:23.the Ftse was flat, underperforming European markets after a jump
:09:24. > :09:32.in the value of sterling. All of the European market up by
:09:33. > :09:45.similar percentage points. Some individual stocks worth noting,
:09:46. > :09:49.including HP, with demand for its printers weaker against a backdrop
:09:50. > :09:52.of a shrinking PC market, the technology company is expanded to
:09:53. > :09:57.report a drop in its fourth-quarter revenue. America's biggest discount
:09:58. > :10:02.store dollar tree will turn in its results for the third quarter. Back
:10:03. > :10:05.in August they already scaled back their full year sales forecast.
:10:06. > :10:07.Joining us now is Nandini Ramakrishnan, global market
:10:08. > :10:18.strategist at JP Morgan Asset Management.
:10:19. > :10:26.Talk us through the oil price, the spike in oil, it is affecting
:10:27. > :10:30.markets all over the world, in anticipation of the Vienna meeting.
:10:31. > :10:35.Yes, towards the end of the month, it should give us some idea if there
:10:36. > :10:39.will be a cut. The past two days have been defined by an oversupply,
:10:40. > :10:43.producers producing as much as they can to gain market share, and when
:10:44. > :10:47.you have oversupply, that drive the price down, so when we hear about a
:10:48. > :10:55.potential cut, markets start pricing it up. I was mentioning the US
:10:56. > :11:00.indices were all up yesterday following the global rally, is that
:11:01. > :11:08.oil, the president elect, or a combination? Accommodation. A lot of
:11:09. > :11:12.the American indices are oil or energy producers, so with a higher
:11:13. > :11:15.oil price, the revenues will be higher, you have more confidence
:11:16. > :11:19.that the companies will do well. You mentioned the indices in the US,
:11:20. > :11:26.some include medium-sized companies, will benefit from a more
:11:27. > :11:31.isolationist or closed off American political and trade situation, where
:11:32. > :11:37.investors say small and medium-sized businesses are going to do better.
:11:38. > :11:44.Some tech companies are doing badly. IT, telecoms, those large IT and
:11:45. > :11:50.trade oriented stocks suffer when you have trade and the movement of
:11:51. > :11:56.ideas and products and companies getting under the limits of a
:11:57. > :11:59.potential presidential policy. You have more to discuss later,
:12:00. > :12:03.including seaweed pastor. Yummy! Maybe not at this time in the
:12:04. > :12:04.morning. We speak to the company that wants
:12:05. > :12:09.to make sure high-end brands care as much about their employees
:12:10. > :12:11.and the environment as they do You're with Business Live from BBC
:12:12. > :12:17.News. A new breed of autonomous vehicles
:12:18. > :12:20.are already on the road with driverless features,
:12:21. > :12:22.but how should the insurance Vital to working out a claim
:12:23. > :12:31.would be finding out if a car was being driven by the computer
:12:32. > :12:34.at the time of an accident. British insurers want a standard set
:12:35. > :12:38.of data agreed at an international level which would be
:12:39. > :12:40.easily available in On an insurance-industry test
:12:41. > :12:48.drive in Oxfordshire, a car which can drive itself
:12:49. > :12:54.is being put through its paces. I am now switching on autopilot,
:12:55. > :12:57.so the car is now driving Right now, even in a Tesla
:12:58. > :13:01.or another car with self-driving features, you are not allowed
:13:02. > :13:04.to take your hands off But as this kind of technology
:13:05. > :13:09.becomes commonplace, all sorts of rules of the road
:13:10. > :13:13.will have to change, a big challenge for drivers,
:13:14. > :13:17.as well as insurers. And huge potential confusion,
:13:18. > :13:19.as well, because the insurers need to know what system
:13:20. > :13:23.is being fitted to what vehicle, and whether it is
:13:24. > :13:25.switched on or not. When there is a crash,
:13:26. > :13:29.were you driving, or was the car? In theory, in a few years' time,
:13:30. > :13:33.I could be driving this car from the passenger seat,
:13:34. > :13:36.letting the car take the strain. But that is going to involve big
:13:37. > :13:39.changes in the law, and in the way the whole
:13:40. > :13:44.insurance system works. Since Google unveiled
:13:45. > :13:46.its driverless-car project, traditional car makers have raced
:13:47. > :13:48.to introduce But insurers say in future cars
:13:49. > :13:55.will have to record data about what happens before
:13:56. > :13:59.and after every accident. We need access to a really basic set
:14:00. > :14:03.of data, on the rare occasions that something goes wrong,
:14:04. > :14:05.so that we can tell straightaway whether the car was driving itself
:14:06. > :14:07.or whether the motorist And that will help us process
:14:08. > :14:11.claims, it will help emergency services investigate accidents,
:14:12. > :14:13.and it will help manufacturers In the long term, driverless cars
:14:14. > :14:20.should make roads much safer. But we can expect many arguments
:14:21. > :14:22.over whether the motorist or the machine is responsible
:14:23. > :14:39.for an accident. Lots more on our website, take a
:14:40. > :14:45.look at our page. This is one story that broke this morning, the B
:14:46. > :14:49.owner reporting a boost in third-quarter trade. Driven by the
:14:50. > :15:07.trader subsidiary. B doing well. Our top story, key Brexit
:15:08. > :15:09.negotiators are meeting later today and both sides
:15:10. > :15:11.will come out swinging. A quick look at how
:15:12. > :15:19.markets are faring. The oil majors are doing well,
:15:20. > :15:22.aren't they Rachel? We may get a cut in production from Opec. That's
:15:23. > :15:26.pushing a global rally around the world with high markets in Asia and
:15:27. > :15:31.we can see the European markets all opening up.
:15:32. > :15:35.When you hear the term luxury goods what do you think of?
:15:36. > :15:37.Expensive watches, the latest designer handbags or
:15:38. > :15:43.What about the impact making those things has on the people
:15:44. > :15:45.who put them together and the planet as a whole?
:15:46. > :15:52.They are concerns that are increasingly being raised
:15:53. > :15:56.in a market worth $268 billion worldwide last
:15:57. > :15:58.year according to the consultancy firm, Bain.
:15:59. > :16:00.Most of the profit comes back to western Europe.
:16:01. > :16:03.Italy has 29 of the top 100 luxury goods companies by sales
:16:04. > :16:11.They say the biggest luxury company in the world is France's
:16:12. > :16:14.LVMH with sales of more than $23 billion a year.
:16:15. > :16:17.It owns brands including Louis Vitton, Tag Heuer and Bulgari.
:16:18. > :16:20.Some of those are amongst more than 300 brands that
:16:21. > :16:25.This means they are deemed to have "a positive impact
:16:26. > :16:31.It was the brainchild of Diana Verde Nieto
:16:32. > :16:32.who is the co-founder and Chief Executive
:16:33. > :16:39.of Positive Luxury the company which hands out the Butterfly Mark.
:16:40. > :16:45.Thank you very much for coming on the programme. Where did this all
:16:46. > :16:51.begin? What made you think of coming up with this idea? I used to work,
:16:52. > :16:54.my first business was a sustainability communications
:16:55. > :17:02.consultancy. We used to work with the brands. In that space you have a
:17:03. > :17:06.lot of different certifications. You have the Fairtrade Foundation, and
:17:07. > :17:10.the Soil Association, but there was nothing for luxury. Luxury is
:17:11. > :17:14.aspirational and it is really what the consumer really aspire to have.
:17:15. > :17:18.So I thought, it will be amazing to be able to provide, to people,
:17:19. > :17:24.transparency on what luxury brands are doing and the way we do it is in
:17:25. > :17:32.a holistic way. We don't focus on one area of the business, but 360,
:17:33. > :17:39.we look at governance and mental frameworks and philanthropy. What's
:17:40. > :17:44.the response been like? At the beginning, it is hard, but five
:17:45. > :17:48.years on, it has been phenomenal and brands are willing to open up and
:17:49. > :17:54.start disclosing what are the positive steps they are making. When
:17:55. > :17:57.I approached the luxury, you know, high earning companies, big
:17:58. > :18:01.turnovers and big revenues, when you initially approached them, how many
:18:02. > :18:04.of them were able to say? Yes, we're already doing that. Open their books
:18:05. > :18:08.and show you the positive things that they were doing and how many
:18:09. > :18:10.did you have to change, change what they were doing and change the
:18:11. > :18:19.environment for their workers? A lot. So we normally kind of reject
:18:20. > :18:23.about 30% to 40% of brands because they don't meet the criteria that we
:18:24. > :18:29.have for our assessment, but they're willing to do the work. So it is
:18:30. > :18:32.slow. On the contrary also there a lot of the brands that were super
:18:33. > :18:38.excited to really start communicating this. But I think the
:18:39. > :18:41.media has an incredible role to play and to really celebrate
:18:42. > :18:45.sustainability instead of every time that we talk about this, oh, a
:18:46. > :18:50.brand, is in the headlines because what they haven't done instead of
:18:51. > :18:57.what they have done. What's the consumers response to this? Are
:18:58. > :19:05.consumers of luxury goods looking for these kind of kitemarks? For the
:19:06. > :19:08.younger consume they are is a must. They don't live without. They go
:19:09. > :19:13.online and really look for the information. So either the brand
:19:14. > :19:19.provides it or they will find it anyway. The response of the consumer
:19:20. > :19:23.has been tremendous and it is not just the luxury consumer because
:19:24. > :19:28.everybody aspires to have a handbag or a watch or also the experiences,
:19:29. > :19:32.it is also hold disand drinks. So everybody kind of at some point
:19:33. > :19:36.really kind of tries to find out what the brand is doing. Just
:19:37. > :19:42.explain how do you make money when you are doing this as a business.
:19:43. > :19:46.You are providing a Kite mark for brands. You as an organisation, how
:19:47. > :19:52.do you pay your bills and pay your wages? This is a consumer facing
:19:53. > :19:57.Kite mark. It is really to provide transparency about what the brand is
:19:58. > :20:03.doing. We licensed our technology. Our technology, sow see the
:20:04. > :20:06.butterfly mark into any website that sell their products and on any
:20:07. > :20:11.retailers that are selling the luxury goods or booking for example.
:20:12. > :20:15.So a consumer can really see what the brands are doing. So the brands
:20:16. > :20:19.have to pay you to get the technology. Is there any conflict
:20:20. > :20:25.when it comes to deciding whether or not to award them the Kite mark? It
:20:26. > :20:29.is easy, if they don't meet the criteria, there is not technology to
:20:30. > :20:33.licence. Personally, transparency and integrity crisis is a must for
:20:34. > :20:40.the business so we will never compromise on that. So you've
:20:41. > :20:47.dominated luxury. What's next? Keep dominating luxury, but now globally.
:20:48. > :20:55.Diana, thank you. Diana Verde Nieto. I wasn't aware of that Kite mark. We
:20:56. > :20:58.will be looking out for it in future on goods.
:20:59. > :21:01.In a moment we'll take a look through the Business Pages but first
:21:02. > :21:04.here's a quick reminder of how to get in touch with us.
:21:05. > :21:10.The Business Live page is where you can stay ahead with all the day's
:21:11. > :21:14.breaking business news. We will keep you up-to-date with all the latest
:21:15. > :21:18.details with insight and analysis from the BBC's team of editors right
:21:19. > :21:25.around the world. And we want to hear from you too. Get involved on
:21:26. > :21:34.the BBC Business Live web page at: On Twitter we are at: You can find
:21:35. > :21:36.us on Facebook at BBC Business News. Business Live on TV and online
:21:37. > :21:55.whenever you need to know. Let's talk about the seafood past
:21:56. > :22:00.ta? Different kinds of foods that we may expect have to fill the need for
:22:01. > :22:06.a growing population. The key fact is the UN says 60% of an increase is
:22:07. > :22:10.needed in food supply in order to meet food needs by 2050. So I guess
:22:11. > :22:19.seaweed is one of the answers to that. It is an known fact. These
:22:20. > :22:22.events like the World Economic Forum, there will abside bar
:22:23. > :22:26.discussion about the problem of food shortage in 2050, it will become a
:22:27. > :22:30.big issue, won't it? There will have to be some innovation and rethinking
:22:31. > :22:33.of our agricultural products and practises as we go forward and have
:22:34. > :22:36.to support a growing and different type of population. We have got a
:22:37. > :22:39.lot of tweets on this from our viewers. We have got Terry who says,
:22:40. > :22:44."I will be 85 in 2050 and I was "I will be 85 in 2050 and I was
:22:45. > :22:48.going to live forever, but the thought of seafood past ta, I'm not
:22:49. > :22:55.sure! " Another viewer says, "It sounds tasty." Rachel has been
:22:56. > :23:03.saying yummy-yummy all morning. Alan says, "Having lived in Japan,
:23:04. > :23:09.seaweed is a good idea, but I wonder what the environmental impact is? ?"
:23:10. > :23:13.It is an interesting one because it is an economic and business combined
:23:14. > :23:19.with environmental and agricultural issues in one theme. I'm guessing
:23:20. > :23:24.2050 much more veg and much less meat. That's my guess.
:23:25. > :23:31.Let's look at the other stories. We've got more than ?1 billion for
:23:32. > :23:34.faster UK broadband expected in tomorrow's Autumn Statement. That's
:23:35. > :23:37.happening here in the UK tomorrow where our Chancellor of the
:23:38. > :23:39.Exchequer and Finance Minister Philip Hammond will be announcing
:23:40. > :23:44.all sorts of things. What do you make of this story? It gives you the
:23:45. > :23:47.impression that we're at the fore front, but we are way behind. It
:23:48. > :23:50.does mention a couple of other countries who have faster
:23:51. > :23:54.connections and better technology and the key point is for businesses
:23:55. > :23:58.and for even consumers, but businesses more importantly having
:23:59. > :24:00.that fast connectivity and that hi-tech infrastructure is really
:24:01. > :24:07.important so we will be looking to see amongst the many details of the
:24:08. > :24:13.Statement. Fibre to your home as opposed to cooper, it is faster,
:24:14. > :24:18.isn't it? Much faster. They are saying it needs to be fibre all the
:24:19. > :24:24.way into the home. How does that marry up with things like mobile
:24:25. > :24:27.broadband or the idea is that this fibre to the roadside that we had
:24:28. > :24:31.been focussing on has been leapfrogged? Is there a danger that
:24:32. > :24:35.fibre to the home is going to be leapfrogged before we get there? It
:24:36. > :24:37.is an interesting one. It is part of the larger infrastructure theme we
:24:38. > :24:42.are looking for the statement tomorrow. It is part of the
:24:43. > :24:44.technology boost that can help the UK business world. Just interesting
:24:45. > :24:48.about this Autumn Statement tomorrow, of course there will be a
:24:49. > :24:52.lot of announcements about lots of different measures, the idea is
:24:53. > :24:55.giving the UK economy a much needed boost which will need during Brexit
:24:56. > :24:59.negotiations and it is similar, isn't it, in the US with the Donald
:25:00. > :25:03.Trump boost? Infrastructure projects and big spend. It seems like
:25:04. > :25:08.infrastructure is the new seem. We have talked so much about monetary
:25:09. > :25:14.policy and Central Bankers trying to stimulate growth in these economies,
:25:15. > :25:19.is it time when we are seeing that fiscal stimulus, building roads,
:25:20. > :25:22.technology that article we're talking about, it is a big theme
:25:23. > :25:26.going forward and something we're looking forward to in tomorrow's
:25:27. > :25:31.statement. Tomorrow, it will be roads, research and really fast
:25:32. > :25:40.broadband. Sorted. She is on it tomorrow. We must keep an eye on the
:25:41. > :25:44.pound as well in the next 24 hours. It has been fluctuating about the
:25:45. > :25:48.support for Theresa May and it is one that will react quickly to news
:25:49. > :25:49.flow. Thank you. It has been great to have you on Business Live today.
:25:50. > :25:51.That's it. There will be more business news
:25:52. > :25:56.throughout the day on the BBC Live webpage and on World
:25:57. > :26:11.Business Report. Hello.
:26:12. > :26:14.There are scores of flood warnings in place across England following
:26:15. > :26:15.the last few days of wet weather extending into