A look at the global business stories.
Browse content similar to 14/03/2017. Check below for episodes and series from the same categories and more!
This is Business live from BBC News with Ben Thompson and Sally Bundock.
The historic move by UK Parliament to pass the Brexit bill.
Theresa May is now on track to trigger the formal process
of taking Britain out of the EU in the last week of March.
Live from London, that's our top story on Tuesday 14th March.
historic vote last night? We look at historic vote last night? We look at
this milestone moment that set the stage to unwinding 40 years of close
cross-channel ties. Also in the programme,
in Tokyo Toshiba shares plunge as it delays its results announcement
for a second time. And in Europe markets are mixed as
political risk is firmly back on the agenda. Plus, will a winter storm
affect the meeting of the Federal reserve? We will tell you all you
We will tell you all you need to know.
Later in the programme we'll hear from one of the world's leading
board game manufacturers about the threat from computer games
And as Levi's launches a smart jacket that can
control your smartphone we want to know is it one step too
Get in touch with your thoughts about the smart jacket, Brexit,
whatever we are discussing this morning. We love to hear from you.
We begin with the historic move on the part of the UK Parliament.
Late last night it passed the Brexit bill, paving the way
for the Government to trigger Article 50 so the UK formally can
We expect formal negotiations to begin before the end of March.
And that brings with it a period of uncertainty
Last year, despite the surprise outcome of the June referendum on EU
membership, Britain recorded growth of 2%.
According to the International Monetary Fund it will slow to 1.5%,
though this is actually up from their previous
And in 2018, growth is expected to come in at just 1.4%.
The ongoing uncertainty has also impacted the currency.
Since the referendum last June, the value of the pound has fallen
Our economics editor, Kamal Ahmed, is with me.
Nice to see you. Running through some of the economic growth
forecasts. Let's start at the beginning. Where are we now? Where
does it leave us this morning? The government has got through the
legislation in the UK Parliament, that means they can now write the
formal letter to the European Commission, triggering the exit
process. From that moment, which is likely to be the end of this month
they have two years to negotiate, not only Britain's exit from the
European Union, which is the technical issue that needs to be
done there, but for the British Government they also in parallel
want to negotiate a new trade deal with the European Union. A lot of
people say that is a big stretch in two years, but that is the way the
government wants to approach it. It has made it clear Britain does not
want to be in the single market and it is unlikely to be in the customs
union. Whatever the trade deal is with the European Union, it will
have to be reformulated. But this is different from Canada trying to
negotiate free-trade deal with the European Union because there is a
free trade deal in place which will be unpicked. The government's
argument is we are starting from a position of no tariffs and it is a
question of adding in tariffs and they believe that is an easy process
than the eight or nine year process that Canada went through to get the
free trade deal with the European Union. The next couple of years will
be defined by certain landmark moments. Triggering Article 50 is
the first one. That gives business uncertainty in some respects because
we have got a timetable, but it raises so many other uncertainties.
Economically what do we expect to happen? The most important thing
will be what news flow do we get in that two-year period? We may not get
much, but what we will get is news about the arguments and that is
where the Treasury is concerned. You get the rows, the conflict over what
tariffs might exist in the automotive sector, the
pharmaceutical sector. That leads to pressure on sterling. Sterling has
lost value and it goes down and it introduces inflation into the UK and
that affects consumer confidence. The UK economy is driven by consumer
confidence and that could dissipate. The UK economy could slow. That is
the worry in the Treasury's mind. It is not that we will not get a good
deal at the end of the process, but anyone dealing with Europe knows
there is often a long period of negotiation and then an
absolutely eye watering final five days when everyone stays up all
night and they get a deal at the very end. In that situation that
two-year process is devoid of real substance and that leads to economic
uncertainty. It keeps us all in a job for a while!
So much analysis and information on our website. We have not mentioned
the Scottish curved ball as well which introduces even more
uncertainties. Have a read and dig deep. We will keep you in touch with
every twist and turn on the BBC you can guarantee.
14 million could loose insurance coverage in 2018 under
the new Republican health care plan, according to the
The nonpartisan group of budget analysts and economists claims
the added number uninsured would rise to 24 million by 2026
and reduce federal deficits by $337bn over the ten-year period.
Facebook has banned software developers from using its data
to create surveillance tools, closing off a process that had been
used by US police departments to track protesters.
The social media network says the change will help build
a community where people can feel safe making their voices heard.
And the Brokerage, Charles Schwab, has becomes the latest company
to launch a part human, part robot financial advice service.
It's part of a wider shift among the big banks to offer digital
products to customers on more routine transactions.
The service combines its automated investment management technology
We are all human here, but we are trying to get the technology to
work. I think it knows very well we are human. We have got the situation
regarding that decision in Parliament yesterday and that is
dominating the business live page. But we have got the Fed beginning
its closely watched meeting. Our next guest will talk about that. I
was a bit concerned about the winter storm and the impact that would have
on Janet Yellen and and her team gathering in Washington. Their snow
boots will be on. They will trek through to talk about interest
rates. Let's go to Singapore because we are talking about Toshiba and it
has missed its earnings deadline. about Toshiba and it has
missed its earnings deadline. First, Karishma Vaswani
is in Singapore... Explain the significance of this. It
is the second time it has delayed its earnings announcement and it is
a major embarrassment for an already troubled firm. It asked for the
extension, one month this time around, until April the 11th, to
sort out what it says are auditing problems. We have heard this before
and this was the reason it gave in the previous set of announcements
when it was expected to make the announcement in March. In the last
hour there has been a news conference that Toshiba has held and
the president has repeatedly said it is planning to sell its stake in its
troubled American nuclear business. Nuclear is a third of the company's
revenues. That division has not made a profit for the last few years. The
president has also said he is hoping the company will return to growth in
2018 and 2019, but the market and investors are not holding up much
hope and the shares fell by 7% with that news. That was one of the big
movers in Japan today. You can see that the UK index is down slightly
in anticipation of an interest rate hike coming from the Federal reserve
the United States. In the Chinese economy on the whole growth is on a
firm footing. Hong Kong was boosted a bit by that, although it closed
flat, down by one point. Let's have a look at Europe which is trading at
the moment to give you a sense of how things are going. Again Europe
is fairly flat. Political risk is very much on the mind of Europeans
because that Brexit boat went through. Also as well we have got
voters going to the polls in the Netherlands tomorrow which kicks off
a year of general elections in Europe. We cannot bring you the
European numbers right now, but the main markets in Europe are slightly
up and slightly down. I will hand you back to bed and hope the
technology will catch up with us. The European numbers are here and
Richard Fletcher is here with us. Let's pick up on what Sally was
talking about. We have got some clarity on Brexit last night. It is
going to happen. The markets are taking it in their stride. Yesterday
the pound closed up on the day despite we had the Scottish
referendum news and overnight it has given up those games and some. The
pound is at an eight-week low at $1.21. It has been a bumpy morning
and we will see how that goes throughout the day. Let's talk about
the Federal reserve. There could be a snow day. We still expect them to
me, but the snow could get in the way. We expect some numbers to dial
in by a conference call. There was a storm in 2016 and they still managed
to meet the next day. Only a few weeks ago everyone saw another rate
rise as unlikely and yet now it is an odds-on certainty, and 90% chance
of arise. What people are looking for now is the language from them.
They have said they expect to raise rates three times this year and some
people are forecasting it could be four times. It is really about the
language of the rate rise and the markets believe it is odds-on. We
should be clear on the snow. They are expecting a lot. Ten inches
in Washington and 20 inches in New York. Thousands of flights are
cancelled, schools have closed. If that happened in London, it would be
a major disaster. Let's have a look at the G20 finance
ministers meeting in Germany. There is a lot going on. This is the first
post Donald Trump G20 meeting. In the draft communiques some of the
language has changed. We have lost that we will resist protectionism on
all fronts, that line has gone. That appears to be a change of tone. What
happens in the two days of the meeting, we will have to wait and
see, but they will be a change of tone. We have got the Bank of
England as well, so there are lots of issues for the markets to face
this week. We appreciate you coming in. It is a very packed week.
Come on! Give us a demo. I cannot do it. I have got some playing cards.
Still to come... Keep talking, it is live TV.
Playing his cards right, we meet the man behind the firm that
makes cards for some of our most popular board games -
and tells us how new technology is changing the oldest of businesses.
You're with Business Live from BBC News.
I was so impressed with that. There are so many things you do not know
In the UK, Fashion retailer French Connection has
Those losses narrowed to ?3.7 million,
an improvement on the 4.7 million pounds it lost the year before.
David Shaw is a business writer on Fashion Buying.
Once it was the darling of the high street and it is now struggling.
Everybody has been watching this and this once great British brand seems
to have lost a great deal of traction with its original brand
followers. Reading the results this morning it is on what appears to be
a downward spiral which is a great shame because this brand has great
potential. What is the outlook? How will it turn itself around? They are
doing all the right things. I have had a look at the accounts and the
statements and they are closing loss-making shops and they are doing
quite well on Internet trading. They seem to be doing the right things,
but they do not seem to be able to get people back in love with the
brand. Whether they can pull the rabbit out of the hat as they did
with the famous SC UK, we will have to wait and see. This business has
been around for 50 years and everybody is hoping it will hold on
and do something pretty quick. The issues to be a separation on the
high street, the winners and losers are becoming clear.
If you look at all fashion retailers they are rather limited. If you have
a shock, you're competing with an intranet business with an infinite
range. How can you hope to satisfy them? I think French Connection will
have difficulty competing with this. The other issue is the problem of
huge foreign investment, these people are on a massive scale so it
is being pitched everywhere. That is another problem. People feel French
Connection are overpriced. Top story, the UK Parliament has passed
the Brexit Bill. Theresa May has the formal process of taking Britain out
of the European Union. Let's have a look at how markets are faring. We
have had problems with the graphics today for some reason but just to
say the value of sterling went up slightly and then has been falling
back today. The sheer markets are pretty flat. Treading water.
Elections are expected to change this in the Netherlands tomorrow.
You all probably owned some phone mood by next guess.
Belgian-based Cartamundi is one of the worlds biggest manufacturers
of playing cards and board games - making family favourites including
and the firm has manufacturing facilities all over the world,
including in Germany, Poland, Mexico, the US and India.
That is where it all started. The ancestry of the company goes back to
1765. It is the reason why they were so expensive, and why the cards
still detect the kings and queens and Jackson jokers who used to play
with cards. Tell us how you got from the humble playing card to this sort
of stuff? The way that people play obviously progresses. To stay
relevant we have to keep our factories busy with products that
are relevant, great experiences for people to play with. The purpose of
the company is to share the magic of playing together. Talk us through
how the relationship works. You make the games we've all heard of. But
you don't actually sell it in the stores. Other companies do that.
Talk us through your competitors. The Lubbock we have games
manufacturing services. We make electrical card games, that is the
business of games manufacturing services. You have shifted where you
make things from China to the United States because of your relationship
with Hasbro, four example. When the game market grew by 15% last year.
It has been growing exponentially in core markets, one of them being the
United States. In order to capitalise, you need to manufacture
the products closer. You would imagine something that is
traditional is suffering from computer game. I want to show
viewers this. Explain what this slightly high-tech thing inside the
card is about. This is a printed intelligent near Field communication
card. It is a new form of electronics which can be printed.
Traditional electronics are silicone but that is metal oxide. It enables
electronics to be able to integrate into everyday paper-based items. In
the future your cards will be intranet enabled, your board game
will be able to connect and give you a different game experience than
before. Taking all technology and making it very new. Yes but still in
a fast, fun and easy way. At the end of the day it is the game experience
that matters. Thank you so much for coming in. I love playing with these
cards. We like you to get in touch with the
stories we are covering and one of them is about this smart jackets
that tells you what's going on. It is a jacket attached to your
smartphone and it can tell you the time, let you listen to music...
The goal for Google is to provide access to their favourite services
and information from everywhere and anywhere at any time. Whether they
are biking walking or cycling, they should be able to access their
favourite services. Tell us what is here. This is integrated into a
portion of the cuff material. The thread that capture your gestures
integrate and are transferred to the little tag. You have the destination
and it tells us this. You can control the music from the cuff of
this sleeve. That would drive me insane.
Everybody else around you as well. Dominik is with us. That jacket,
would you wear it? It would drive me insane. Imagine being on a train.
What about when it malfunctions and you're in a meeting. One person
says, not so smart, give the not so smart something new to play with.
Jasper says I'm not convinced wireless signals are safe so I would
not wear it. We've had quite a few people talking about it but nobody
has said they want to wear it. Wearable tech was going to be the
next big thing. It has not taken off. A lot of people are wearing it
on their arrest. That is wearable tech. It is but it's not a jacket.
Let's talk about oil prices. We thought they were going back up.
They'd finally agreed production cuts but it has gone down. Last week
it went down 9%. It was $55. Now it is down to 48 dollars. Not just
because it is having difficulty maintaining this but also the second
she'll revolution in the states. The biggest ever oilfield discovered.
The numbers are out from the US Department of. They are on course to
produce an extra million dollars -- million barrels of oil a year. It's
an astonishing new source for production. That has a huge impact,
economically. Oil is important for everything we buy. Transport costs,
driving the world economy. It is going down. Most to see you. Thank
you. Sally is going to teach me more card tricks. I am. Thanks to your
company. Goodbye. For the next couple of days it looks
pretty settled. Things