:00:00. > :00:08.This is Business Live from BBC News with Ben Thompson and Sally Bundock.
:00:09. > :00:15.US law-makers will vote to allow tech giants and car makers to test
:00:16. > :00:17.thousands more autonomous vehicles, but they'll have to meet
:00:18. > :00:41.Live from London, that's our top story on Wednesday, 6th September.
:00:42. > :00:45.With a fatal crash involving Tesla's autonomous car last year,
:00:46. > :00:48.we ask an expert if this tech future means safer driving or disaster
:00:49. > :01:05.Nissan unveils its sexier, souped-up all electric car,
:01:06. > :01:11.but will it be able to overtake its high-tech more popular rivals?
:01:12. > :01:15.And we'll be getting the inside track on a labour
:01:16. > :01:19.of love - and furry bears - we speak to the boss of toy firm
:01:20. > :01:35.As Ryanair changes its rules on check-in baggage, we want to know
:01:36. > :01:37.your stories on holiday hell. Ryanair says it will make cheaper to
:01:38. > :01:43.put luggage in their hold. August Bank Holiday weekend at Luton
:01:44. > :02:00.Airport, I will say no more! Billions are being invested
:02:01. > :02:02.in the future of autonomous cars, so the stakes are high particularly
:02:03. > :02:05.when it come to the rules Later today lawmakers in the US
:02:06. > :02:09.will vote on a bill that would allow the likes of Ford,
:02:10. > :02:12.Google and Uber to test thousands more self-driving
:02:13. > :02:18.vehicles on the roads. The "Self-Drive Act" would give
:02:19. > :02:21.car-makers and tech giants certain exemptions from federal rules that
:02:22. > :02:26.currently govern everything from steering wheels to seat-belts
:02:27. > :02:28.IF they can prove their tech That would allow thousands more test
:02:29. > :02:43.vehicles on the roads. In California, the number of global
:02:44. > :02:46.firms licensed to test cars has doubled to 27 now. That's over the
:02:47. > :03:02.past year. As you can see it includes the big names the likes of
:03:03. > :03:07.scapd ford, VW, GM. A test driver became the first
:03:08. > :03:11.person to die in a self driving car accident when sensors failed to
:03:12. > :03:17.detect a truck on a highway. The new Bill will force manufacturers to
:03:18. > :03:21.beef up safety data, defences against hacking and publish policies
:03:22. > :03:28.about what data they will collect. And the stakes are high. Consultants
:03:29. > :03:36.Bane predict the industry could be worth $26 billion by 2025.
:03:37. > :03:40.Anna-Marie Baysden is head of Autos at BMI research.
:03:41. > :03:46.I wonder if you can let us know how significant this is. We know that
:03:47. > :03:50.they're testing already, but they're testing on fake tracks, test tracks,
:03:51. > :03:54.not in the real world. And the tests they do in the real world are
:03:55. > :03:57.limited. Opening it up like this would make a big difference,
:03:58. > :04:02.wouldn't it? Absolutely. The volumes that we're talking about as well,
:04:03. > :04:06.25,000 cars per manufacturer and we saw the number of manufacturers
:04:07. > :04:12.mentioned there, it means a lot more autonomous cars on the road and I
:04:13. > :04:18.think at the moment we have only got the likes of Tesla and Volvo. What
:04:19. > :04:22.do we expect the real world testing will flag up? What differences will
:04:23. > :04:26.they see in the real world that they can't replicate on a test track? It
:04:27. > :04:30.will be the behaviour of other drivers on the road. Human drivers
:04:31. > :04:35.are more unpredictable than the conditions you can create in a test
:04:36. > :04:39.environment. So it's just gathering as much data as possible on how
:04:40. > :04:43.different situations might play out and how the car should react and how
:04:44. > :04:48.human drivers react. And that's one of the biggest sticking points, it
:04:49. > :04:52.is the mismatch between some human drivers and some autonomous drivers.
:04:53. > :04:55.If the companies had their way we would be in autonomous cars because
:04:56. > :05:01.they can predict better what the response would be? It is definitely
:05:02. > :05:06.the riskiest period when you have got the mix of traditional cars and
:05:07. > :05:10.autonomous cars because the cars can be programmed in a certain way and a
:05:11. > :05:13.lot will be similar, but when you've got human drivers as well, you're
:05:14. > :05:17.adding unpredictable behaviour into the mix as well. It's a big market
:05:18. > :05:21.as well. Sally touching on the numbers there. So all of the big car
:05:22. > :05:24.makers vying for a slice of the market. Are they working together?
:05:25. > :05:28.Are they doing this independently? It strikes me that it is one of the
:05:29. > :05:31.industries where we'd like to think everybody is working together
:05:32. > :05:35.sharing their information, it is probably not like that, is it? Well,
:05:36. > :05:39.it is a funny one. You have got newcomers to the ought owe space
:05:40. > :05:43.like Google and Apple to a certain extent. So we have got these tech
:05:44. > :05:46.companies coming in and in the early stages there has to be
:05:47. > :05:49.collaboration. There is a lot of technology that traditional ought
:05:50. > :05:54.owe makers aren't used to and tech companies aren't used the ought owe
:05:55. > :05:56.sector so there does have to be collaboration, and we will reach a
:05:57. > :06:01.point where they are in competition because you have got Google having a
:06:02. > :06:04.car out there and Apple maybe. A lot of new start-ups as well that we
:06:05. > :06:08.haven't heard of before coming into the market. So it will get very
:06:09. > :06:13.competitive quickly. Yeah, one we will be talking about a lot, I'm
:06:14. > :06:24.sure. Thank you very much. It is a fascinating subject.
:06:25. > :06:29.Nissan has released details of its revamped electric car -
:06:30. > :06:39.The base model of the new Nissan Leaf will now have a longer range,
:06:40. > :06:43.able to travel 240-kilometres on a single charge.
:06:44. > :06:47.The firm's chief executive says the car will no
:06:48. > :06:50.longer be a niche model and will become a major part
:06:51. > :06:58.The troubled PR firm Bell Pottinger has confirmed it
:06:59. > :07:00.has hired accountancy firm BDO with reports suggesting
:07:01. > :07:06.Meanwhile, HSBC has become the latest high-profile firm
:07:07. > :07:08.to sever ties with the PR firm following a controversial
:07:09. > :07:16.The Archbishop of Canterbury, Justin Welby, says Britain's
:07:17. > :07:18.economic model is broken, as the gap between the richest
:07:19. > :07:22.He says that Britain stands at a watershed and must make
:07:23. > :07:29."fundamental choices" about the direction of the economy.
:07:30. > :07:32.More strong economic news from Australia today -
:07:33. > :07:35.it's recorded a strong pick-up in growth in the last three months.
:07:36. > :07:37.It's now more than 26 years since Australia
:07:38. > :07:50.Many of you are probably going, "What does that feel like?"
:07:51. > :08:01.It's the wonder from down under, isn't it? It feels good for
:08:02. > :08:06.Australians. It doesn't mean that they don't keep worrying about it.
:08:07. > :08:11.No one expected the growth. The last quarter's growth wasn't as strong.
:08:12. > :08:15.It is mostly down to domestic spending on food and clothing,
:08:16. > :08:21.increasing, whilst saving rates have declined. So consumers basically
:08:22. > :08:26.deciding to splurge a little if they can't save. There are concerns about
:08:27. > :08:31.the falling commodity prices. Something we talk a lot about on
:08:32. > :08:35.this programme. Australia still depends on its iron ore and coal
:08:36. > :08:40.exports. The prices have taken a hit in recent times. Despite that 26
:08:41. > :08:42.year record, the outlook not always entirely sunny here in Australia, I
:08:43. > :08:47.am afraid. Hywel, thank you very much indeed.
:08:48. > :08:49.The Australian market was down despite the fact that the economic
:08:50. > :08:53.news was better than expected. You can see behind me, that's the Dow
:08:54. > :08:58.Jones the night before down 1% on Wall Street. That set the tone for
:08:59. > :09:04.Asia. Basically the markets really struggling still with the lack of
:09:05. > :09:09.clear next steps with regards to North Korea as what may happen as
:09:10. > :09:16.far as that's concerned. Let's look at Europe quickly. Again, shares all
:09:17. > :09:18.falling. We have got the European Central Bank meeting tomorrow. We
:09:19. > :09:23.have got a Fed gathering the week after. So eyes back on Central Bank
:09:24. > :09:33.action. We will talk about all that in more detail. Here is
:09:34. > :09:39.SamirA A report is likely to show the trade
:09:40. > :09:44.deficit will widen in July and that's from $43.6 billion in June.
:09:45. > :09:48.Now, the trade deficit refers to the gap between US imports and exports
:09:49. > :09:52.of goods and services. President Trump vowed to wipe out America's
:09:53. > :09:57.trade deficit altogether. The Federal Reserve will issue the beige
:09:58. > :10:00.book. It is the latest report to arrive from business contacts around
:10:01. > :10:04.the country on the health of the US economy. Now, America's Central Bank
:10:05. > :10:09.is expected to hold rates steady at its next meeting in two weeks' time,
:10:10. > :10:11.but it may announce that it will start reducing it's $4.5 trillion
:10:12. > :10:14.balance sheet. Joining us is Simon Derrick,
:10:15. > :10:24.Chief Markets Strategist, Good morning. Nice to see you. Let's
:10:25. > :10:28.pick up on Sally's favourite topic. Central Bank action. There is not a
:10:29. > :10:33.day that goes by, that we don't talk about it, but another big week. The
:10:34. > :10:36.big story will be about the European Central Bank. They're peating
:10:37. > :10:40.tomorrow. The question is are they going to further reduce their asset
:10:41. > :10:45.purchases, quantitative easing? The market spends a lot of time
:10:46. > :10:50.obsessing about this. It has fed into strength into the euro. The
:10:51. > :10:53.European Central Bank doesn't like currency strength. The question is
:10:54. > :10:56.when we hear the head of the bank tomorrow speaking is he going to
:10:57. > :11:03.stay we are becoming concerned about this? That's what the market will
:11:04. > :11:06.focus on. We are not going to get a taper tantrum, are we? It's
:11:07. > :11:10.possible. We go back to what happened in 2013 and the market
:11:11. > :11:14.didn't like this. It is a big programme. My guess is they will
:11:15. > :11:22.play it as carefully because they don't want the euro at 120 or 130
:11:23. > :11:26.and perishing. A story that dropped on the wires from Reuters. Chinese
:11:27. > :11:29.airlines likely to buy more than #,000 planes over the next 20 years
:11:30. > :11:33.and this is interesting because it is from Boeing. They say they could,
:11:34. > :11:37.it is not confirmed at this point, but worth $1.1 trillion. A huge
:11:38. > :11:40.order if it goes ahead, but I'm interested in this given everything
:11:41. > :11:43.we've heard about President Trump and firms and countries that deal
:11:44. > :11:47.with China and North Korea and all that connection? There is lots of
:11:48. > :11:51.unanswered questions about that report. Are they buying them from
:11:52. > :11:54.the US? The report is from Boeing and not from China and it is over 20
:11:55. > :12:00.years. But nevertheless it says two things to me. The first is clearly
:12:01. > :12:04.they're trying to make sure that the relationship on trade with the US is
:12:05. > :12:08.as good as it possibly can be. So maybe trying to muddy the waters
:12:09. > :12:12.somewhat as we have the trade disputes making place. The second
:12:13. > :12:15.thing I'd say is maybe they see it as an opportunity for China to
:12:16. > :12:19.become one of the major carriers in the world. I mean, there is this
:12:20. > :12:23.question mark about how some of the gulf carriers at the moment given
:12:24. > :12:28.their hubs in a politically volatile region, whether they can remain as
:12:29. > :12:31.those carriers, maybe China sees this as an opportunity as well.
:12:32. > :12:36.Another story we will follow. Simonks thank you. I know you will
:12:37. > :12:49.come back and talk us through some stories in the newspapers later.
:12:50. > :12:55.We have got an interesting story coming up. A tale of setting up one
:12:56. > :13:02.business and it involves some beans and toast to get through the worst
:13:03. > :13:14.times, but it is a multi-million pound business. You're with Business
:13:15. > :13:16.Live from BBC News. It's a fishy tale now! Sorry. It's
:13:17. > :13:20.going downhill. A sharp downturn in the UK fishing
:13:21. > :13:23.industry has meant tough times for many coastal communities that
:13:24. > :13:26.relied on it for jobs and income. Many blame EU quotas on fishing
:13:27. > :13:29.and those employed in the fishing industry voted overwhelming
:13:30. > :13:31.to leave the EU. So how are they preparing
:13:32. > :13:34.for life outside the EU? Sean Farrington is in
:13:35. > :13:45.Grimsby to find out. Grimsby fish market today. They have
:13:46. > :13:50.just managed to sell, they have got 50 tonnes of cod and haddock here
:13:51. > :13:55.this morning. A lot of it is imported because that's what we
:13:56. > :13:59.prefer to eat in the UK. We import ?1 billion plus of fish every year
:14:00. > :14:02.for our own consumption. What we export is what we catch and that
:14:03. > :14:07.will be big question marks for the Brexit negotiations as they go
:14:08. > :14:11.forward. At minute catch about 400,000 tonnes of fish around the
:14:12. > :14:17.UK. Not stuff like this that's coming in from Iceland. Richard is
:14:18. > :14:21.from Hull University. Richard, when it comes to Brexit, obviously we're
:14:22. > :14:25.importing lots. What's the key thing for the fishing industry in the UK?
:14:26. > :14:29.I think we all know it's important to get access to markets. It's
:14:30. > :14:33.important for the fishing industry to get a fair share of quotas, but
:14:34. > :14:37.it is important not to lose sight of the bigger picture. Most fish stocks
:14:38. > :14:41.are over-fished or at risk and we are looking at threats from climate
:14:42. > :14:45.change and ocean acidification and it is really important that we don't
:14:46. > :14:49.forget that we need to protect and make sure that fish, fishing is
:14:50. > :14:53.sustainable for the future. Richard, thank you very much. It will have a
:14:54. > :14:56.big effect on the industry. There are 12,000 odd fishermen in the UK
:14:57. > :15:01.at the moment. Be careful, they have got toe collect the fish and put
:15:02. > :15:05.them in the right place. Back in the mid-90s, there was 20,000. At one
:15:06. > :15:10.point Grimsby and all the ports around here were known as the
:15:11. > :15:15.world's biggest fishing port. That's changed a lot. So how towns recover
:15:16. > :15:26.like this for Brexit will be important.
:15:27. > :15:32.It was a hair net yesterday and it is the trilby today. The beard net.
:15:33. > :15:40.Hard hat? Hard hat is fine. I can't pull off a trilby or hair net. I
:15:41. > :15:45.think we need a Twitter arty. Ben's best headwear shots! There is lots
:15:46. > :15:46.of stories on the Business Live page. Take a look when you have
:15:47. > :15:53.time. You're watching Business
:15:54. > :16:02.Live - our top story: A new low in the US will be grappled
:16:03. > :16:06.with later which means driverless cars could be tested on the open
:16:07. > :16:14.road. Lots of issues regarding safety coming to the fore. -- a new
:16:15. > :16:18.law in the US. So far, there have the tests on test
:16:19. > :16:18.tracks, not in the real world, so big difference.
:16:19. > :16:23.A quick look at how markets are faring....
:16:24. > :16:32.Continuing nervousness about events in North Korea. Until we see any
:16:33. > :16:40.real geopolitical response, the concern continues but markets are
:16:41. > :16:46.not overly concerned. Buy we have an extra special guest. I've been
:16:47. > :16:51.replaced! Building a business from the ground up can be a daunting
:16:52. > :16:59.prospect, particularly if you are entering a crowded market. Soft toys
:17:00. > :17:07.accounted for more than $1 billion of cells in the US last year. -- of
:17:08. > :17:12.sales in the US. Charlie Bear is a firm founded
:17:13. > :17:16.here in the UK by a wife and husband team in 2006 -
:17:17. > :17:19.who wanted to try and make high The couple sold their house and car
:17:20. > :17:23.to get the business off the ground - but a decade later it's turning over
:17:24. > :17:26.more than $11m. Charlotte Morris is
:17:27. > :17:30.the co-founder of Charlie Bears. Nice to see you. We've brought some
:17:31. > :17:35.of your beautiful bears in, and they are beautiful. We have had a play
:17:36. > :17:43.and a squeeze, and apparently they don't, part, which is the point.
:17:44. > :17:49.They are beautiful and robust. -- they don't come apart. How did this
:17:50. > :17:54.start? It has been a passion since I was a little girl. I was gifted a
:17:55. > :18:03.teddy bear and I was enchanted by. When I met my husband, he was very
:18:04. > :18:07.supportive and was lovely and allowed us to sell everything that
:18:08. > :18:16.we own so that I could follow my dream and start a bear company. You
:18:17. > :18:25.met your husband through the Bears? Yes. In a shop? Yes. You started a
:18:26. > :18:33.business, went to trade fairs, but it was a TV parents that made things
:18:34. > :18:36.kick off? We were approached by a shopping channel, and things boomed
:18:37. > :18:42.and escalated from there. There are a lot of collectors out there, like
:18:43. > :18:46.me, and they love the fact that we have affordable, collectable bears
:18:47. > :18:53.for the market. It is the fact that it is middle of the range, I think
:18:54. > :19:02.you won't mind me saying, they are not top end bears, they are middle
:19:03. > :19:07.of the market, so they cost tens of pounds, not hundreds. And that is
:19:08. > :19:11.what makes us unique compared to everyone else. It is a gap in the
:19:12. > :19:15.market that I noticed, and it was something I wanted to get out there
:19:16. > :19:18.for collectors. You want to encourage the next generation but
:19:19. > :19:23.also give the ones who are still around any excuse to buy one,
:19:24. > :19:27.because it's very addictive. The problem for you was when you hit the
:19:28. > :19:32.airwaves and had hundreds of orders coming in, you could not get the
:19:33. > :19:36.bears out soon enough, because they are made in a very specific way by
:19:37. > :19:42.our small factory in Thailand, and they could not meet the demand. We
:19:43. > :19:56.couldn't, and it was scary, very daunting. We had a 62- week waiting
:19:57. > :20:03.list. 62 weeks? ! We signed up to grab Government -- to a Government
:20:04. > :20:07.programme, and they helped us find additional manufacturing, helped us
:20:08. > :20:11.plan everything out so that we could nail everything down and keep
:20:12. > :20:15.everything solid. I absolutely did not want to compromise. We could
:20:16. > :20:20.have gone to China and mass produced, but it was something I
:20:21. > :20:24.didn't want to do. We wanted to stay true to what we started doing. How
:20:25. > :20:30.does it feel to have such a waiting list? It is a badge of honour that
:20:31. > :20:33.people will wait that long, but equally, as a business, you want to
:20:34. > :20:39.be selling more. You don't want people waiting that long, you want
:20:40. > :20:44.them buying multiple bears in that time. Absolutely. It was frustrating
:20:45. > :20:50.but the collectors and for us as a company. We stayed true, continued
:20:51. > :20:54.to use all the traditional bear making methods that we do. There is
:20:55. > :20:59.something about a bear, you will wait for that extra special one.
:21:00. > :21:07.When you talk about the way they are made, there is a factory in Thailand
:21:08. > :21:12.- where else are they made? One in Sri Lanka and to in Thailand. All
:21:13. > :21:18.the girls love what they are doing and you can see that in the end
:21:19. > :21:25.product they make. Explain the thing about beans on toast for me. We
:21:26. > :21:29.literally had to sell everything we own. In my first negotiation, I was
:21:30. > :21:38.trying to negotiate with a landlord that we were renting from. We ate
:21:39. > :21:44.baked beans on toast for six out of seven nights. We still do it on the
:21:45. > :21:50.anniversary. But we have a glass of champagne with it. It is a good
:21:51. > :21:57.staple diet, beans on toast. Thanks for joining us.
:21:58. > :22:03.More now on Nissan's unveiling of its all-new electric as it chases
:22:04. > :22:13.From Tokyo, here's Ruper Wingfield Hayes.
:22:14. > :22:15.In Tokyo today, a huge production with lots
:22:16. > :22:17.of pizzazz for what is a
:22:18. > :22:28.Well, because in large part, this car, or
:22:29. > :22:30.the previous generation of it, is the biggest selling electric
:22:31. > :22:32.vehicle in the world, and because Nissan,
:22:33. > :22:38.Tesla and other big car companies believe
:22:39. > :22:40.that this or something like
:22:41. > :22:43.it really is the future, and that in ten to 15 years,
:22:44. > :22:45.most of us will be driving some sort of electric
:22:46. > :22:49.We're now just going to check out some of the high-tech
:22:50. > :22:54.features of this new Leaf, one of which is that it can park
:22:55. > :22:58.OK, so now, it's going to go forward.
:22:59. > :23:05.You can see I have no hands on the wheel.
:23:06. > :23:21.It's certainly a better looking car than the previous
:23:22. > :23:25.model, which was rather bug eyed and a lot of people thought was an
:23:26. > :23:28.The main difference between this and the old generation
:23:29. > :23:31.is the size of its battery pack, down here under the floor.
:23:32. > :23:33.This one's got a 40 kWh pack, and that
:23:34. > :23:36.means it should be able to go, according to Nissan, up to 400
:23:37. > :23:43.kilometres, or 250 miles on one charge.
:23:44. > :23:50.We'll see how that goes down. That was Rupert Wingfield Hayes in Tokyo
:23:51. > :23:55.for us. Simon Derrick is with us from bank of New York. Were going to
:23:56. > :24:05.talk about this story about Ryanair is reducing baggage check-in fees.
:24:06. > :24:10.People know how in purine ditties -- how infuriating it is to have to pay
:24:11. > :24:13.for bags. They are saying they will allow you to take more for the same
:24:14. > :24:19.amount but they will not allow you to take to make bags on board. We
:24:20. > :24:23.asked you for your check in stories. Matthew says: Working as a baggage
:24:24. > :24:28.handler at Stansted, passengers are making their case is heavy. Yes,
:24:29. > :24:42.passengers are taking too much on holiday. You heard it from Matthew -
:24:43. > :24:49.reduce what you take with you. Steve said: The airline lost luggage on
:24:50. > :24:53.the way to the US and then turned up with my equipment destroyed. Simon,
:24:54. > :25:02.you must have many stories. In a Middle Eastern airport, they were
:25:03. > :25:06.checking passports, the guy who was checking the passports looked at my
:25:07. > :25:10.photograph, passed it around everyone else so that they could
:25:11. > :25:17.laugh as well. That's a bad passport story! On a more serious note, the
:25:18. > :25:22.Archbishop of Canterbury, Justin Welby, saying that the UK economy as
:25:23. > :25:28.is is broken and change needs to happen. Your thoughts? My
:25:29. > :25:35.disagreement would be, it's not just the UK economy, it's a developed
:25:36. > :25:38.world thing and the inequality he is talking about is an overreliance on
:25:39. > :25:49.interest rates rather than fiscal policy. If you own things in the
:25:50. > :25:56.last 15 years, you did well, if you did not, you did not. The divide is
:25:57. > :25:57.between the haves and have nots. Thank you for your company. We're
:25:58. > :26:13.back tomorrow. Goodbye. Good morning. Today is probably
:26:14. > :26:16.going to be the best day of the week in terms of weather. Plenty of dry
:26:17. > :26:22.weather out there this morning. Chile with clear skies through the
:26:23. > :26:23.night. As we