30/01/2017 BBC Business Live

This is Business Live from BBC News with Jamie Robertson

The Trump administration is standing firm over its ban on immigration

from seven countries - despite court rulings and mass

Business leaders worldwide are swift to react.

Live from London, that's our top story on Monday the 30th of January.

Airlines juggle flight crew and passengers,

while the tech giant Google urges some staff not to leave the country

- we'll find out how companies are being impacted by the US travel

Volkswagen has overtaken Toyota to become the world's

best-selling car-maker - recapturing the position

And this is where the markets are, they are all down, and we will

explain why shortly. We'll be getting the inside track

on how cleaning windows and houses, doing the gardening and pet care has

become big business. And what do you make of VW moving

swiftly into the fast lane and unseating Toyota as the world's

biggest seller of cars - President Trump is standing firm

on his ban on immigration from seven countries -

Iran, Iraq, Libya, Somalia, He's also denying the measures

are targeting Muslims. The leaders of many global business

have been swift to react - the technology firms among the first

to speak out. Google says it will take legal

action to protect its employees. It's urging staff who could be

caught up in the ban not to leave the US and has more than 100 staff

affected by the order. The head of Tesla, Elon Musk,

says the ban isn't the best way to address challenges the country

is facing, and says he will take up industry concerns

with President Trump's Emirates, one of the world's

biggest long-haul carriers, has had to change flight rosters

for pilots and cabin crew. While Etihad, the national airline

for the United Arab Emirates, says it's offering affected

passengers the option to refund Thank you very much, Jamie. Many

other businesses have their comments and express their views.

Peter Trubowitz, Professor of International Relations

and Director of the US Centre at the London School of Economics.

This is an interesting one, an executive order signed on Friday,

and what the ramifications have been. Many big company bosses say

they have tactical issues to deal with here, staff who can't get back

to the US, staff who can't go on important business trips. Indeed, we

can see the backlash already. Trump in one fell swoop has managed to

galvanise the political opposition, create enemies in silicon valley and

put many fellow Republicans especially in the Senate in a

difficult place. I think many Americans at this point are

beginning to feel buyers remorse. Trump in the last week has lost

eight points in approval ratings. He already came in with low ratings, so

what he is losing are people who were not exactly in the tank but

were willing to give him the benefit of the doubt. It is hard to see how

this helps him politically, and at the level of policy, one has to

wonder if this is more of a recruiting device than something

that will depress support. -- a recruiting device for Isis. And

it is so damaging to business. What do you think businesses like Google,

Starbucks, the rest of them, what can they do to exert political

pressure? Put money into the ACLU. And what is that? American for Civil

Liberties union. Donations went through the roof over the weekend,

apparently. The problem for them is that this was premeditated and it

was announced by Trump that he was going to move in this direction, and

I think that many of them had kind of hoped that once he got into

office, there would be more stable hands in the Senate, in the

Congress, members of his administration that would steer him

in another direction, and that's not what's happening, so I think they

need to express their voices more strongly. Over the weekend,

something that has been missed in all of this is the other executive

order or presidential decision that Trump made over the weekend which

was to put Steve Bannon onto the National Security Council, and

effectively remove the chairman of the Joint Chiefs of Staff and the

Director of National intelligence. They will come on when issues

concerning front and centre. This is a big move, you have an

anti-globalist, Trump's chief political strategist, now at the

principals' meeting. Peter, I'm sure we will talk to you again in the

next four years! The first 100 hours of the Trump presidency, never mind

100 days. Other news now: The boss of Starbucks coffee says

he plans to hire 10,000 refugees It's a response to President Trump's

ban on immigration In a letter to existing staff,

Howard Schultz wrote that the scheme would start in the United States

where the focus would be on hiring immigrants "who have served with US

troops as interpreters and support The US airline Delta has been forced

to cancel about 150 domestic flights because of what it calls "automation

issues" after a "systems outage". Whilst flights are now departing

again, the airline says there may The airline also suffered problems

with its website which is now We have got lots of stories out

there today, lots of good corporate stories. We will try to touch on

them. Toshiba, once again shares on the move quite significantly. It

just can't catch a break, say our Singapore team. The Japanese

conglomerate is said to be sued by several trust banks over the

accounting scandal. Shares down by some 6% in Tokyo on that story.

What else have we got there? The FTSE down. Let me get my glasses on

so I concede! -- can see! This picture is lured, I can't understand

it. Shall we move on? We can get to the

FTSE later! Toyota has lost its four

year run as the world's biggest selling car-maker -

it's been overtaken by Volkswagen. I think given the scandal over

Volkswagen's emissions test cheating, some viewers might find

this uprising, but the company did quite well in China, pushing up its

worldwide sales by nearly 4% from last year. Toyota meanwhile really

struggled from the slowdown in the United States, only managing 0.2%

rise in sales, and things are not looking great for Toyota in the

American market under the new administration of President Trump,

as we have been reporting he has criticised Toyota and the rest of

the auto industry in his tweet, accusing Tokyo of putting nontariff

barriers, which Tokyo denies, but business leaders are quite

concerned, and it has been reported the boss of Toyota will be meeting

the Japanese Prime Minister this Friday ahead of the Prime Minister's

meeting with President Trump on the 10th of February.

Thank you very much indeed. Let's have a look at these markets, all of

them looking fairly negative. A lot of the sentiment affecting the

markets globally is this feeling of protectionism, or worry about

protectionism, that comes mainly from the United States but also

there are shadows of it coming from Brexit and the possibility of the

ending of the UK's attachment to the single market. All of these things

are beginning to worry the markets more. Let's have a look at what is

happening in the UK. All of them down, and not just protectionism,

but worries about what is happening in the United States. The ban on the

immigrants from the seven countries into the United States, even though

it may be done for security reasons, has had a knock-on effect on to

businesses as well, and that again is worrying the markets.

Let's have a look at what is going to be coming up in the day ahead in

the US. Lots of earnings

happening this week. Apple will be reporting on Tuesday

and it seems the revamped iPhone 7 will give the tech company

a real big boost. Apple is forecasting an all-time

record high for revenues. The social media giant Facebook

will be reporting earnings on Wednesday and for the past few

quarters Facebook's mobile ad sales have been soaring,

boosting its overall growth, but back in November Facebook warned

that ad growth may slow. On Thursday, retail giant Amazon

will be reporting earnings and investors will be looking to see

just how profitable the holiday Finally, in non-earnings news,

on Friday we'll get The unemployment rate is at 4.7%,

the lowest it has been in years. Hughes is with us, chief market

analyst at foreign trade at GSX. It is quite an interesting week. Some

big names reporting, the so-called Fangs, Facebook, Apple, Netflix and

Google. It has been quiet, Chinese New Year, many markets close, we

only had Japan and Australia open today. Yes, and you get that

situation. Sometimes you get weeks where things. Off slowly and there

will be a lack of data. It would give us a nice ease into the week if

resident Trump wasn't in the White House. But these Fangs stocks are

important, it used to be the big banking and oil stocks were the

financial forces behind the markets, but now we have to look to these

enormous technology stocks. Google was disappointing about back-end of

last week, so fantastic numbers, but we look to Apple, one of the biggest

companies in the world, and we look towards Facebook, those are two huge

companies. If I am an investor looking at the markets, do I look at

or do I look at the results coming or do I look at the results coming

out this week and say, I will put some money in that, and forget about

him? It is a good point, because if you look at the way the markets have

been rallying since November the night, there has been a lot of

movement up, but the foundations of that have not been particularly

there, we haven't seen too much in terms of different news which would

lead it there. With Donald Trump in the White House at the moment, you

have to macro issues. One is the fact that we don't know what he is

going to say next or what executive order will come next. Globally, you

would, but from a market point of view, you wouldn't. On the other

side of this, the markets are still rallying, earnings have been

particularly good since the start of earnings season, Google slightly

missed it but we have seen good numbers. So we are very much caught

at the moment, you have real uncertainty, which the market hates,

from Donald Trump, but good financial numbers which are helping

boost the markets. And I understand we have the Fed midweek, so what are

Janet Yellen and her team trying to figure right? They are try to work

out what on earth is going on with Donald Trump! Should be up soon? She

is poised to put the rate up soon. She told us there would be four rate

hikes, and we only got one, but they are hawkish on the back of strong

fiscal policy from Donald Trump, and the fact that the economy is doing

particularly well, so with that in mind, the Fed has to be pretty

hawkish, but Janet Yellen doesn't always go on with that. Thank you

very much indeed, James. We will keep an eye on her as the week

progresses! She's back in the news, I have missed Janet! We haven't

talked about hazards before Christmas. -- talked about her since

before Christmas. Still to come: Getting spick

and span - how cleaning, gardening and pet care can lead

to a tidy profit. You're with Business

Live from BBC News. The best-selling cereal brand

in the UK has just announced a ?30 million investment

in its manufacturing plants. And that brand is Weetabix, did you

know that? It's going to increase capacity

at its Burton Latimer and Corby plants, as well as create

800 new jobs. Giles Turrell is the Chief Executive

of Weetabix, and he joins us now. Why are you doing this? We are doing

it to meet the growing demand for our healthy breakfast cereals in the

UK, but also to help us meet the growing demand in the markets where

we export, and specifically in China, where business doubled last

year. You are creating another 800 jobs, which is... I wish we were. We

will be creating, our current workforces around 800. My mistake.

You are creating new jobs, so this is fantastic news for Theresa May,

saying Britain is open for business. But how have you been affected by

the whole Brexit story with the pound and so on? The first part your

question, it is about ensuring we can keep the business successful in

the Northamptonshire area. With regard to Brexit, we have definitely

seen with the weakening of sterling having an impact our business, we

import a lot of raw materials, and naturally what this enables us to do

is to continue that export. Your owners are putting you up for sale.

Have we any news on that? They have just backed this investment, so they

believe in the future of the company, and they believe in what we

are trying to do in our court UK market as well as trying to... Maybe

they want to increase the price? I'm not going to comment on rumour and

speculation, I am here today to talk about good news, which is the

investment in the UK, and that will also help us expand our business

internationally and the growing success we are seeing in China.

Buddies think the price of a box of Weetabix will have to go up because

of Brexit? There will be an impact on our

business. As our first responsibility must to be absorb

that internally and we will always look to do that by running the

business more efficiently and effectively. If we're unable to do

that, the last resort would be to increase our cost prices. Thank you

for your time. Lots more stories in the UK on our

website. Do take a look at those too.

Our top story: The Trump administration is standing firm

over its ban on immigration from seven countries

despite court rulings and mass protests against it.

A quick look at how markets are faring.

We are nearly 50 minute noose a brand-new trading week in Europe and

sentiment is negative as you can see, but they had a fairly good run

last week, European markets. So it is from a very high base. An excuse

to take profits maybe. We're near the top still.

It's often said that "where there's muck, there's brass".

And if you wanted proof, you could do worse than look at the growth

Cleaning, gardening and pet care amongst the jobs increasingly

being farmed out by people who are considered cash

One company they turn to is Fantastic Services,

which started in 2009 by Rune Sovndahl and

It has now become the UK's largest domestic services provider,

and has a turnover in excess of ?28 million a year,

As well as operating throughout the UK, it now has

expanded into Europe, Australia and the USA.

Rune Sovndahl is the Chief Executive of Fantastic Services.

You're Danish. That would explain the name! Welcome. It can be hard to

pronounce. You're Danish, but you have been living in the UK for a

long time. Presumably in the UK first? We started in London. I came

here in 1999. We started in 2009. I at that stage was at lastminute.com

and we were working on booking websites and I metAnton and we grew

the business out of a need. I wanted to get my deposit back on an

apartment. What was the genesis of it. How did you start it? It was the

discussion of it and then finding out there was a general need for

more clarity in the industry. Like fixed prices, a stand consistent

service. I came from the corporate side from lastminute.com and we

looked a the market place and it was very fragmented when we started this

seven years ago. I hadn't heard of you until today. However, several

colleagues here have heard of Fantastic Services because I did an

unscientific survey in the building, but there are many companies like

yours out there, I mean, many. Some we have heard of like Chekkatrade

and so many cleaning companies, just cleaning. Why do you think you're

going to stand? Out? We didn't compare three prices and this stuff.

We wanted to make everything simple. We wanted to make sure that you get

what you're looking for. I think that's why we stand out. Why we

haven't been noticed because one of the things we're organically grown.

Especially when it is a cleaner or someone of of that nature, you need

to trust them and it is Word of mouth, you trust the person more

than you would a generic website? We have been around for seven years

now. I don't think it is a generic website and we are a company that

backs up a lot and once people know this about delivering consistent

services, that's why we survived. Don't you compete on price? Of

course, we do. The price is lower now than it was before the

recession. Which is also led to a greater demand. So there is more

people using cleaners than ten years ago. What does that do to the money

that's given to your employees? Surely their pay packets are getting

squeezed as well? Everybody is getting squeezed at the moment and

their pay packets as well. We came in with more technology and came in

with ways of being more efficient and it is easy to book by the app

now, Fantastic Services and everything else. It is about being

efficient in the industry and that's one of the reasons why we succeeded.

Your cleaners and your handymen and gardeners, they are not employees of

yours, are they? No. What will it mean with Brexit because many of

them are from around Europe, all over Europe, most of your staff are

from over Europe? At first, I mean, everybody was scared. There is no

clear real answer and we don't know yet, but on the other side, you have

got a lot of Brits abroad. We have British people working in Bulgaria

for us. So it's a whole mix of this and there is people everywhere...

But for you running a business. Huge uncertainty. It is not necessarily,

no. The number of services and growth and the people who want to be

organised, a gardener likes to do gardening, not sit on a website and

do this stuff. It is like providing a service to the gardeners so the

gardeners can do a great job. We want people to do what they're good

at. We became that missing link between that. All right, we'll keep

an eye on how it goes. Thank you very much for coming in. The founder

of Fantastic Services. Thank you very much.

For the last three years the e-commerce giant Amazon has been

building itself up in India and with a population

of about 1.3 billion people, it's little wonder that the company

Shilpa Kannan has been speaking to the head of Amazon's India

operations who explained how the company's $5 billion

of investment is helping businesses across the country.

Every time we find sellers use our warehouses

their deficits go down, their cost structure goes down

They use our logistics network and the speed of delivery goes up

So all of these results in lower cost of operations and lower

prices, but to build all the stuff requires investment.

Building networks, we have more than 27 centres in 13 States,

7.5 million cubic feet of space, the largest build out

A car about which car you drive. A viewer says I can like the Golf R

very much. Mohamed says Audi. Another viewer says Kia is the best

make of car. We have got to talk about this

Danish drugs giant making a big UK investment. A story on our website.

Tell us more? Theresa May will be cheered up. It is a big European

company. It is probably the biggest maker of insulin products and it is

choosing to put ?150 million into research and development into type 2

diabetes in Oxford. Why? It had pause for thought about the Brexit

vote and considered going elsewhere, but the research and the

collaboration between scientists and the commercial people, that's around

here, was the best. That's a real plus for Oxford as opposed to

Cambridge because you would have thought it would have gone to

Cambridge? Quite a big deal for them. Let's look at this story about

Goldman. Goldman put pressure on Theresa May to protect City post

Brexit. It is all part of their bigger picture. Today, there is a

meeting in Frankfurt, the German financial regulator has convened a

meeting president biggest banks in the city. It is meant to be about

regulation and compliance, but it is going to be a pitch come to

Frankfurt. If you are going to leave London, please come to Frankfurt. It

is not clear how many jobs will leave the City, but Frankfurt is in

there pitching as is Paris and as is Dublin. As is New York? A lot of

people think the bigger winners will be New York, it is because

businesses will seize to exist. They have move the traders to New York

and have economies of scale. What about Dublin? It has been chosen by

a lot of the Asset Management firms. JP Morgan is moving a lot of people

to Dublin. Interesting. A whole new world.

That's it from Business Live today. There will be more business news

throughout the day on the BBC Live webpage and on World Business

Report. Well, it has been a very dry winter

so far. Now we are seeing changes this week. Milder air pushing up

sfrouth thanks to areas of low pressure. So it looks like it will

turn more unsettled through the week with spells of rain, something we

haven't seen in a while for many. It