:00:00. > :00:00.This is Business Live from BBC News with Sally Bundock and Ben Thompson.
:00:07. > :00:13.A $600 billion trade relationship must be re-drawn.
:00:14. > :00:39.Live from London, that's our top story on Thursday 30th March.
:00:40. > :00:41.With Article 50 now finally triggered, we'll be looking
:00:42. > :00:44.at what the options are for the trade negotiators
:00:45. > :00:52.The world's biggest insurance market confirms it's moving some
:00:53. > :00:54.of its business to the continent in response to Brexit.
:00:55. > :01:01.And can a tech firm that makes lists really be
:01:02. > :01:13.We meet the man behind Listable - the firm that promises to make
:01:14. > :01:28.Today we want to know, What are your questions
:01:29. > :01:33.We'll be answering your questions on this Friday's
:01:34. > :01:55.We start of course with Brexit - as the massive task now begins
:01:56. > :01:59.of agreeing the terms of Britain's departure from the European Union.
:02:00. > :02:02.There's a huge amount at stake for businesses here in the UK -
:02:03. > :02:10.and across the remaining 27 EU countries in the form of a trading
:02:11. > :02:12.relationship worth hundreds of billions of dollars a year.
:02:13. > :02:16.A failure to strike a trade deal would be damaging to all sides.
:02:17. > :02:27.In 2015 the UK exported $274 billion worth
:02:28. > :02:34.That's 44% of all the UK's exports and represents 13 percent
:02:35. > :02:44.The EU exports far more to the UK than vice versa -
:02:45. > :02:52.So it runs a large trade surplus over $80 billion with the UK.
:02:53. > :02:57.So you can argue it has more to lose in negotiations.
:02:58. > :03:04.But the EU as a whole is far less reliant on Britain
:03:05. > :03:10.Just 16% of all EU exports come here and they account for barely
:03:11. > :03:18.Of course different countries and industries are more reliant
:03:19. > :03:25.Germany's car industry is one that has a huge amount to lose as does
:03:26. > :03:33.Anne Marie Martin is Chief Executive of the Council of British Chambers
:03:34. > :03:46.Good morning. Welcome. Sally running through the numbers and this is the
:03:47. > :03:50.start of the long process when it starts coming down to who says what
:03:51. > :03:56.and who is prepared to give what. What happens next, in simple terms?
:03:57. > :03:59.Ooh! If I had my crystal ball, that would be very helpful. It's
:04:00. > :04:04.difficult to know. I think the process of what happens next is
:04:05. > :04:08.obvious. I think what's more important is to ensure from our
:04:09. > :04:10.point of view as a business organisation, a business
:04:11. > :04:15.organisation that is whose members are primarily based outside the UK,
:04:16. > :04:19.what we can do to assist and to help is to bring the European business
:04:20. > :04:26.perspective to the table. I think it's really important to understand
:04:27. > :04:29.that this is just as challenging for European or EU-based businesses as
:04:30. > :04:33.it is for UK businesses, they face exactly the same sort of challenges.
:04:34. > :04:37.I wanted to touch on that because, there is an element really about who
:04:38. > :04:41.has the upper hand, who needs the other one more than each other -
:04:42. > :04:50.when we talk about that, does Europe need the UK as much as the UK needs
:04:51. > :04:56.Europe? I think it's the same, it's complicated, it's not as easy as one
:04:57. > :05:02.needs the other more. We live in a world where businesses operate in
:05:03. > :05:07.complex environments and networks. It's not so much about the trade
:05:08. > :05:14.figures. That's obviously important, but the point is that the UK's exit
:05:15. > :05:17.from those supply chains, those European supply chains are
:05:18. > :05:20.potentially very disruptive to those businesses. So a lot of the work
:05:21. > :05:27.that we are involved in at the moment is to try and analyse some of
:05:28. > :05:33.that impact and to ensure that that is represented both to the UK
:05:34. > :05:38.Government but also to the national Governments across the EI 27 -- EU
:05:39. > :05:42.27. Your focus is on Europe and businesses outside of the UK that
:05:43. > :05:45.are working with the UK. Speak to anyone who is in favour of Brexit,
:05:46. > :05:49.they'll say this is the best opportunity for UK business to draw
:05:50. > :05:53.new trade deals elsewhere outside of Europe, with the US, Canada, India,
:05:54. > :05:57.China, that sort of thing, but also to redraw our relationship with
:05:58. > :06:00.Europe. Is there any truth in that, that actually this is a good
:06:01. > :06:03.opportunity to start again? Potentially I think in any challenge
:06:04. > :06:07.there is an opportunity and I think if it helps businesses to review the
:06:08. > :06:14.way they do business, then that's a very positive thing. If it also
:06:15. > :06:18.helps reinvigoration or invigorate export behaviour in the UK, that's
:06:19. > :06:23.also excellent but we mustn't forget the UK's always had access to the
:06:24. > :06:29.markets anyway, that hasn't necessarily made a huge impact on
:06:30. > :06:34.the export activity of the UK. If this is going to be an opportunity
:06:35. > :06:41.for that to increase, then fantastic. Here begins a lot of hard
:06:42. > :06:44.work. Ann-Marie, good to see you, Chief Executive of the Council of
:06:45. > :06:48.British Chamber of Commerce. Thank you very much.
:06:49. > :06:50.Let's stay with Brexit because the world's biggest
:06:51. > :06:53.insurance market, Lloyd's of London, has confirmed it will establish
:06:54. > :06:56.a new European base in Brussels to avoid losing business when the UK
:06:57. > :06:59.It will be up and running by January 2019.
:07:00. > :07:03.Lloyds has warned that without the move, Brexit
:07:04. > :07:05.could have a significant impact on its continental business -
:07:06. > :07:09.which generates $3.7 billion a year- that's 11% of its business.
:07:10. > :07:15.Lloyds also says it made pre-tax profits of about $2.6 billion.
:07:16. > :07:23.Earlier I spoke to the Chief Executive of Lloyds
:07:24. > :07:32.She explained why they chose Brussels as their new European base.
:07:33. > :07:39.We wanted to have a really top quality robust regulator, Brussels
:07:40. > :07:43.or Belgium regulator fits that bill. We also wanted great access to
:07:44. > :07:47.talent. So we need to hire some really good people. We felt it was
:07:48. > :07:50.an excellent place to go. We have to think about accessibility, how easy
:07:51. > :07:53.is it to get from London to somewhere on the continent, how easy
:07:54. > :07:57.is it from elsewhere on the continent to be able to get to that
:07:58. > :08:00.place. We also though wanted to consider the likelihood of the
:08:01. > :08:03.countries staying within the EU in the future because that's an
:08:04. > :08:06.important factor as well. We were just hearing from the UK Prime
:08:07. > :08:09.Minister, Theresa May, what she was saying yesterday following the
:08:10. > :08:15.delivery of the letter which triggered Article 50. What do you
:08:16. > :08:20.make of her tack as it were, the way she's going about this? I think it's
:08:21. > :08:25.an extremely difficult negotiation to be having. You wouldn't want to
:08:26. > :08:32.be in her shoes? Not at all. The world's eyes are upon this whole
:08:33. > :08:37.thing and it's seldom that you would have such a public negotiation going
:08:38. > :08:41.on and it will happen for a couple of years, despite the actual Brexit
:08:42. > :08:46.happening in two years, it will be ongoing for years after that. Do you
:08:47. > :08:49.think we can kiss goodbye the so-called passporting rights that
:08:50. > :08:55.are critical for financial services in the City of London? That's
:08:56. > :09:00.something you have been wanting to keep? We were lobbying but we felt
:09:01. > :09:05.the chances are lower than they were. Therefore we have set up our
:09:06. > :09:08.subsidiary or will be setting that up in Brussels. It would be
:09:09. > :09:12.fantastic if that happened and the thing is, the essence of what we are
:09:13. > :09:16.trying to get out of that is actually mutual market access
:09:17. > :09:19.because of course a lot of continental European firms also
:09:20. > :09:23.benefit from that and are able to participate in the London insurance
:09:24. > :09:27.market alone. So it's actually a two-way thing. So what you have
:09:28. > :09:32.announced today is your Plan B as it were, your contingency plan, if the
:09:33. > :09:36.outcome I assume is a hard Brexit, this is your plan if we have the
:09:37. > :09:39.worst case scenario? Yes. We want to make sure everything is up and
:09:40. > :09:42.running and it takes a while to establish a new company. Therefore
:09:43. > :09:47.we are starting to execute our plan. We'll be up and running by mid next
:09:48. > :09:52.year, but something else gets negotiated. We can pull back those
:09:53. > :09:56.plans at that point. Inga Beale there who I spoke to
:09:57. > :10:00.earlier. Interesting how businesses are coming up with their plans and
:10:01. > :10:03.arrangement. Let eats tell you how to be in touch with your questions
:10:04. > :10:12.about this whole process. Tomorrow we'll have some guests on
:10:13. > :10:28.to answer your questions. One viewer asking about students
:10:29. > :10:32.working overseas already, health insurance cards, are they still
:10:33. > :10:33.valid is another question. We'll put your questions to the ex-pers
:10:34. > :10:39.tomorrow. A judge in Hawaii has indefinitely
:10:40. > :10:42.extended the suspension It means people from six mostly
:10:43. > :10:47.Muslim states can enter the country Many of the United States' biggest
:10:48. > :10:51.companies have spoken out against the measure and it's impact
:10:52. > :10:53.on their workforces. Mr Trump has argued the ban
:10:54. > :10:56.will stop terrorists entering the country and has previously
:10:57. > :10:58.pledged to take the case Toshiba shareholders have approved
:10:59. > :11:03.a proposal to split off the Japanese company's prized Nand
:11:04. > :11:06.flash memory unit. It paves the way for a sale
:11:07. > :11:10.of a majority stake or even all The company needs to raise money
:11:11. > :11:17.because of billions of dollars of losses at its US nuclear arm
:11:18. > :11:23.Westinghouse Electric, which filed for bankruptcy
:11:24. > :11:40.protection on Wednesday. Let us show you the markets in Asia.
:11:41. > :11:45.We saw a shift yesterday. They were all in the green in Asia and in Wall
:11:46. > :11:49.Street the night before. We have seen sentiment change. We'll discuss
:11:50. > :11:53.the key issues as far as the US is concerned, it's an important day for
:11:54. > :11:57.the US, we'll get growth figures out today and that could mean what the
:11:58. > :12:02.Federal Reserve will think about and decide to do next. So we'll talk
:12:03. > :12:06.about that in a second. A look at Europe first, slightly different
:12:07. > :12:10.picture in Europe, very, very flat, to be honest, very marginal aboves
:12:11. > :12:13.in the markets. We'll talk you through the reasons why. Here is
:12:14. > :12:18.Samira with a look ahead to Wall Street's day. How did America's
:12:19. > :12:23.economy fare during the first quarter? We'll tell you when the
:12:24. > :12:30.department releases the estimate of the GDP. It's expected to show that
:12:31. > :12:38.the economy grew at 2% instead of the previously reported 1.9%. Lots
:12:39. > :12:45.happening on Thursday, SpaceX plans to land its first used rocket. It's
:12:46. > :12:59.a critical test for e-London must have beening. They made -- Elon
:13:00. > :13:03.Musk. New York fed President Leon Dudley will weigh in on the hints of
:13:04. > :13:08.Trump administration's economic plans and of course what that means
:13:09. > :13:11.for the Central Bank's policy-tightening plan. This will
:13:12. > :13:18.happen at an event at the University of South Florida.
:13:19. > :13:19.We'll come back to the theme of the US in a moment.
:13:20. > :13:22.Joining us is James Hughes, chief market analyst, GKFX.
:13:23. > :13:28.Nice to see you. The morning after they've triggered Article 50, what's
:13:29. > :13:32.happened? Markets not really going anywhere? Nothing's happened really
:13:33. > :13:40.and the problem with brex sit that nothing's happened and we still
:13:41. > :13:44.haven't got A clue what is going to happen. From a trader's point of
:13:45. > :13:48.view, we are worried with the uncertainty. We have seen movements
:13:49. > :13:51.in the pound. That goes up when we hear detail from Theresa May or from
:13:52. > :13:57.anyone, and that is the big thing we want. Or it goes down depending on
:13:58. > :14:00.what the detail is? But usually detail means uncertainty goes away,
:14:01. > :14:04.whether good or bad news, and that's kind of helped, but still we don't
:14:05. > :14:09.know the answers and that's the biggest problem for us as traders.
:14:10. > :14:14.The markets hate uncertainties, the old cliche, but unfortunately it's
:14:15. > :14:19.true. That's why we roll it out all the time. We have no idea how
:14:20. > :14:23.transparent this is going to be. Exactly. The problem is we are going
:14:24. > :14:28.to be looking at headlines and hanging on speeches from people in
:14:29. > :14:33.the EU or whatever it may be. A quick word on America, US GDP,
:14:34. > :14:38.it's the final reading for the last quarter? Yes. It's expected to come
:14:39. > :14:44.out in line around 2% which is what we expected anyway, but it all ties
:14:45. > :14:48.into the Fed. Strong GDP could pointous to more rate hikes this
:14:49. > :14:50.year, that is the issue. We'll hold you to that. James will be back in a
:14:51. > :15:00.moment. We meet the man behind
:15:01. > :15:03.the San Francisco firm that And it makes money from lists -
:15:04. > :15:07.we'll explain all. Some of you love lists! I'm one of
:15:08. > :15:15.those, I love lists! You're with Business
:15:16. > :15:19.Live from BBC News. We are also talking smartphones -
:15:20. > :15:23.because on Wednesday, Samsung unveiled its latest flagship
:15:24. > :15:27.models at an event in New York. The Galaxy S8 and S8 Plus feature
:15:28. > :15:31.artificial intelligence and the largest wrap around
:15:32. > :15:36.screens ever made. They are the first major product
:15:37. > :15:41.launch since Samsung had to recall, and then scrap, its Note 7
:15:42. > :15:43.last autumn because of Will the S8 help it win back
:15:44. > :15:53.customers and regain the market leadership it has
:15:54. > :16:12.since lost to Apple? The long-awaited S8 Plus and S8.
:16:13. > :16:18.They have even got their own virtual assistant which can also use the
:16:19. > :16:23.phone's camera as a pair of eyes. Can you tell me more about this
:16:24. > :16:29.wine? Here are the wine search results... Samsung calls the S8 an
:16:30. > :16:35.artform but it is still a familiar sight. The button has moved to the
:16:36. > :16:40.back but there is also now facial recognition screen are locking and
:16:41. > :16:46.improved split screen. Unlike Apple, Samsung is sticking with the
:16:47. > :16:50.traditional headphone jack. It can connect up to a monitor or TV. But
:16:51. > :16:55.after the disaster of the exploding batteries with the Note 7, there is
:16:56. > :16:58.no attempt at extra battery power. With the Note 7, we took a lot of
:16:59. > :17:02.lessons on the battery and we have implemented new types of control,
:17:03. > :17:07.new quality insurance processes which we are of course implemented
:17:08. > :17:14.implementing in the production of the S8 and the S8 Plus. It is
:17:15. > :17:19.perhaps typical of Samsung's newly cautious approach, that it only
:17:20. > :17:31.speaks US English and Korean, for now. I find that really annoying,
:17:32. > :17:36.people who talk to you from the phone, does it get on your nerves?
:17:37. > :17:45.It does. You are either a person who absolutely uses it.
:17:46. > :18:03.There are people who walk around the office speaking to these devices.
:18:04. > :18:06.What is the weather like...? You can go to the Business Life page, it
:18:07. > :18:11.won't talk to you but it will give you lots of information.
:18:12. > :18:13.A $600 billion trade relationship between Britain
:18:14. > :18:16.and the EU is about to be re-drawn, now that Article 50
:18:17. > :18:33.Ben loves lists, so he is the really excited about this next story.
:18:34. > :18:35.And now let's get the inside track on the changing face
:18:36. > :18:39.The number of people opting to work on a freelance basis
:18:40. > :18:42.is growing rapidly as part of the so-called gig economy.
:18:43. > :18:44.One survey from the Upwork and Freelancers Union suggests just
:18:45. > :18:47.over a third of US workers are now freelance - that's
:18:48. > :18:50.Freelancers are also on the rise in Europe.
:18:51. > :18:52.But according to the UK's Association of Independent
:18:53. > :18:54.Professionals and the Self-Employed, they make up just 4%
:18:55. > :18:58.But integrating temporary staff alongside permanent
:18:59. > :19:01.That's where Lystable says it can help, especially when it
:19:02. > :19:04.comes to making sure they get paid properly.
:19:05. > :19:06.40,000 freelancers currently use the service, whose high-profile
:19:07. > :19:17.backers include Paypal founder Peter Thiel.
:19:18. > :19:23.Joining us now is Peter Johnston, founder of Lystable.
:19:24. > :19:30.As Sally said, I love lists, I will put something on a to-do list, so
:19:31. > :19:35.that I can cross it off. On a spreadsheet? No, never done the
:19:36. > :19:39.spreadsheet thing. This is about lists and being able to manage
:19:40. > :19:43.things. We touched in the introduction about how we work now,
:19:44. > :19:48.a lot more flexible, a lot of us going freelance. How does your
:19:49. > :19:58.programme help? For sure, really, it helps businesses manage freelance
:19:59. > :20:03.staff. We help you create a list of the freelancers that you might use
:20:04. > :20:09.around the world and be able to manage them in an efficient way.
:20:10. > :20:12.This is not just a contact list, is it, what are the practical
:20:13. > :20:17.applications? It definitely starts with a directory of the freelancers,
:20:18. > :20:22.but it goes beyond that, to the workflow and assigning them tasks
:20:23. > :20:25.wherever they are in the world, managing invoices with them. It is a
:20:26. > :20:30.complete system, although way through to getting them paid on
:20:31. > :20:35.time. And what started out as your idea years ago has now become a big
:20:36. > :20:40.business, with lots of big clients, 45 staff, most here in the UK, some
:20:41. > :20:44.in San Francisco, who started this when you were 25, you're now 28,
:20:45. > :20:52.running a multi-million dollar company, and many watching this
:20:53. > :20:55.might think, he is one of those young start-ups that we are told we
:20:56. > :21:00.are all going to be working for in the future! How did it all work, it
:21:01. > :21:07.was to do with a man called Mark Evans who you happened to meet when
:21:08. > :21:12.you work at Google? Yeah, Mark was the first venture capitalist that I
:21:13. > :21:17.met while at Google. I met him at King's Cross in London and explained
:21:18. > :21:20.how painful it had been at Google, trying to manage, even knowing who
:21:21. > :21:27.the freelancers work, that we used to. He described to me what he
:21:28. > :21:31.called the find a market fit. He said, you have a really big problem,
:21:32. > :21:36.which we see increasing in the UK and the US. So he met you and saw
:21:37. > :21:39.that you had this brainwave, as it were, which could become a massive
:21:40. > :21:46.business, and he set you on the path, is that fair to say? Yeah, I
:21:47. > :21:50.definitely think he was an encourager of pulling me out of my
:21:51. > :21:53.comfort zone, which was Google at the time, and encouraging me to
:21:54. > :21:57.become an entrepreneur. I think he was definitely aware of the time --
:21:58. > :22:06.at the time of the bigger macro trend. He definitely introduced me
:22:07. > :22:11.to the wider world of the freelancer economy. What does this tell us, the
:22:12. > :22:14.optimism amongst your backers tells us that perhaps this is the way the
:22:15. > :22:20.workforce is going. How do you see it changing? We talk about the gig
:22:21. > :22:26.economy, people being no guaranteed hours any more, how will it work the
:22:27. > :22:30.future? We think we are moving towards a professional freelancing
:22:31. > :22:33.economy. We are seeing a trend of freelancers opting into this
:22:34. > :22:36.lifestyle deliberately. They want more flexibility and they want to
:22:37. > :22:40.work for more companies, companies who have the best values and the
:22:41. > :22:45.best culture. Sometimes they're highly skilled and they can make
:22:46. > :22:51.more money out of going from company to company. We see a shift, a lot of
:22:52. > :22:55.our clients today like Google or eBay, have as many freelancers as
:22:56. > :22:59.full-time staff. And we see that trend continuing to increase. Peter,
:23:00. > :23:04.we are out of time so we will leave it to me the. I understand your
:23:05. > :23:09.family in Belfast are watching. They don't see much of Peter these days,
:23:10. > :23:14.LaMarr Woodley eating and living San Francisco! I come back to see my new
:23:15. > :23:18.nephew, when I can! Shareholders in the toubled Japanese
:23:19. > :23:21.conglomerate Toshiba have approved a plan to split off the company's
:23:22. > :23:24.lucrative flash memory unit. It needs the money after racking up
:23:25. > :23:27.more than $6 billion of losses at its US nuclear division,
:23:28. > :23:29.something that's threatened Our correspondent Rupert
:23:30. > :23:42.Wingfield-Hayes is in Tokyo. This is a big move, isn't it?
:23:43. > :23:45.Contact it is, it was an extraordinary shareholders meeting,
:23:46. > :23:50.called specifically to make this decision this afternoon. It took
:23:51. > :23:53.about three hours, it was an angry meeting, a lot of shareholders very
:23:54. > :23:59.unhappy about the situation Toshiba is in, but in the end they had no
:24:00. > :24:03.choice but to agree to the spin off of the flash memory division, which
:24:04. > :24:06.will now be sold. It is thought to be worth up to 18 billion US
:24:07. > :24:11.dollars, which is needed to pay for the massive debts which have been
:24:12. > :24:16.run up by Toshiba in its North American nuclear division, up to $9
:24:17. > :24:20.billion of debt. In North America division was declared bankrupt
:24:21. > :24:23.yesterday in the United States. But this is essentially selling of the
:24:24. > :24:30.family silver to pay the bills. They now have real choice but to do that.
:24:31. > :24:34.Thank you very much. As you can see, James has returned, as promised,
:24:35. > :24:39.with a story about Amazon and Facebook hitting obstacles in India?
:24:40. > :24:45.India is a massive market, we know it has been, for a lot of these into
:24:46. > :24:47.their companies in the US. I did not realise until reading this story
:24:48. > :24:55.that Facebook in India, it is the second biggest market for Facebook,
:24:56. > :24:59.India he is on the WhatsApp, it is the biggest market. But it is about
:25:00. > :25:04.those companies moving into India and trying to get the business and
:25:05. > :25:07.having issues because of Chinese internet firms coming in and
:25:08. > :25:13.allowing money into Indian start-up companies, which is giving the
:25:14. > :25:17.Chinese companies the upper hand. , of course, India is such a massive
:25:18. > :25:23.boom area, it has been for such a long time. The US firms are
:25:24. > :25:26.struggling to get traction there because of the amount of money
:25:27. > :25:30.coming in from Chinese firms, giving them the upper hand. I know when the
:25:31. > :25:35.Mark Zuckerberg went to India, it might have been last year, and he
:25:36. > :25:40.was desperately trying to woo the masses, as it were, and he could see
:25:41. > :25:44.the potential there. Time is up, I am sorry, but really good to see
:25:45. > :25:49.you. Keep your comments and tweets coming in about questions for
:25:50. > :25:53.Brexit. What does it mean for you? Answers tomorrow. Bye-bye.