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The European Union will reveal
all in a few hours.
Live from London,
that's our top story
on Monday the 29th of January.
British Prime Minister Theresa May
is facing battles within her own
party over the terms
of leaving the European Union.
Just as Brussels tells the UK what
it expects. We will talk through
what is at stake.
Also in the programme...
How education is changing
to prepare students for jobs
in Artificial Intelligence,
Augmented Reality and Robotics.
We take a closer look.
A brand-new business week is under
way. Most of the markets are headed
higher. We will tell you all you
need to know.
The need for weed,
as cannabis is being legalised
across the United States.
We meet one company
is helping to turn local pot
growers into big business.
But, do you think that
cannabis should be
treated the same way
as tobacco and alcohol?
That is what we are asking today.
Let us know.
Just use the hashtag BBCBizLive.
Don't hold back. Tell us what you
think about the legalisation of
cannabis and its sale en masse in
places like Colorado. It is a hot
the headlines again.
The UK Prime Minister is said to be
fighting battles within her
Conservative Party over the terms
of leaving the European Union
and today the EU is expected to sign
off on what it wants for
the all-important transition phase.
There are two key dates.
The 29th March next year
is when the UK government insists
it's leaving the EU.
The second is 31st December 2020.
That's when the EU wants the
so-called transition period to end.
And Brussels says the UK
will stay in the customs
union and single market until then,
which means EU rules continue
to apply even though
the UK will have no say
in making any changes.
One big disagreement
is likely to be over
international trade deals.
The EU argues that whilst the UK
is still in the single market
it can't sign its own trade deals
without approval from Brussels.
But, on Friday, the UK's
Brexit Secretary, David Davis,
insisted the UK would be free
to sign its own trade deals
during the transition period.
Simon Usherwood is deputy director
for UK in a Changing Europe.
Nice to see you. Welcome. A phrase
we will hear a lot over the next
bidets is negotiating directives,
isn't it? That will move us on to
the next step.
What is at stake?
This is the second phase of the
talks, the Article 50 process of the
UK leaving. We have talked about
citizens rights and finances and
Northern Ireland. Now we are talking
about the transition arrangements,
the period until we can get a new
relationship in place and getting a
feel of what the new relationship
There are two dates which
will affect all of this was whether
it is 2018 or 2020 at which time the
transition phase will have ended.
There is a big debate about what
It is about trade
deals that need to be signed. And
what rules need to be applied. What
you are saying is that should look
pretty much like membership except
that the UK will not have a voice
and a vote in most ago she Asians.
The consequence of that is everyone
wants to try to keep this nice and
compact and shorts and we can move
on to the new arrangements.
negotiations. We know it does not
always go to plan and perhaps there
is not enough time to stop one thing
is about immigration and the
movement of trade deals. Potentially
people from the European Union could
still settle in the UK right up till
the end of the transition phase?
the UK is going to be applying the
EU laws and rules, as does as a
member, that includes free movement.
UK citizens leaving in the EU,
places like Spain is still have the
same rights and access as they do at
the moment. That will be a problem
for domestic political audiences
who, for many of them, they wanted
to leave the EU to limit those kinds
So, another two years of
something they wanted to stop. Also
about trade. The UK is very keen to
start striking new trade deals with
countries around the world. They
cannot do that potentially until
David Davis was talking about
negotiating new deals and signing
them. As a member, the UK cannot
sign its own trade deals.
Potentially there might be room for
agreement where the users, you can
start the ball rolling to reduce the
gap between ending the EU
relationship and starting the UK
ones with third countries around the
The UK are negotiating in
Brussels and there is a lot of
uncertainty in Westminster, not
least with Prime Minister Theresa
May and her government that
potentially the Cabinet want
This is the real
concern on the side of the EU as
much as anything else. The EU does
have a clear line on what it wants
to do and how it wants to do it.
With that uncertainty, particularly
with the election last year, Theresa
May looks insecure in her position.
If the unrest in the backbenches
continues, we will see more and more
caution which will make it more
difficult to reach a deal.
for us to watch very closely. Nice
to see you and thank you for
Let's take a look
at some of the other
stories making the news.
President Donald Trump's
national security team
is looking at options to counter
the threat of China spying on US
According to a senior
White House official,
the proposals include
the Government building
5G wireless network.
An investigation has been launched
after a firm allegedly
sold millions of fake followers
to social media users.
The company, Devumi,
stands accused of stealing
the identity of real people,
and using them to
create fake accounts.
That's according to
the New York Times.
The firm has denied the allegations.
Ford's China chief
Jason Luo has resigned,
after just five months in the role.
His resignation was effective
immediately, the company
said in a statement.
Luo was responsible for leading
the carmaker's operations in China,
including its import business.
The Australian government has set
out plans to become one
of the world's top ten arms
exporters over the next decade.
The Defence Industry Minister said
grants to help arms manufacturers
increase sales could create tens
of thousands of jobs.
Google has announced
a $100 million investment
in the ride-hailing company Go-Jek.
What does it mean?
Karishma Vaswani is in
Singapore for us.
We know there is a battle between
the likes of Lift and Gruber. And
now this company Go-Jek.
I am sure
people in this part of the world are
familiar with it but audiences in
Europe may not know. Go-Jek the
company that is very much part of
the big ride hailing competition for
passengers out on Southeast Asian
streets. It has rivals such as Uber
in this region, as well as Grab.
Sources at Google said the company
is pumping some $100 million worth
of investment into Go-Jek was this
marks Google's first ride hailing
app investment. Other investors are
companies in China. You are starting
to see this part of the world being
carved up into various directors
decided who they are going to bet on
in this competition. You have Uber
and Grab being backed. But Go-Jek is
the prize in this part of the world,
not just for ride hailing but the
internet market as well.
Let's have a look at the financial
markets. In Asia, it was a bit of a
mixed day. It got fairly mixed as
the day progressed. Some things to
keep in focus, last week there was a
lot of talk about protectionism and
also weaker dollar policy. That was
buffeting markets to a degree around
the world last week. That was all
coming out of Davos, the World
Economic Forum. People are back
focusing on earnings and economic
news. Let's have a look at Europe.
You can see London up slightly for
the back is the story across the
board. Earlier you can see the
Spanish markets are lower. Many
commodities are doing really well
for you have a weaker pound sterling
probably because of the conflict
And Samira Hussain has the details
about what's ahead
on Wall Street Today.
Fresh consumer spending numbers come
out on Monday for that this is
important because consumer spending
accounts for two thirds of all US
economic activity. The commerce
Department is expected to report
consumer spending will have picked
up by .6% and shipments of capital
goods orders increased for the tenth
straight month. Also happening,
negotiations for the sixth and
penultimate round of talks in
finalising the North American Free
Trade Agreement. Time is running out
for Canada and Mexico to tackle what
they call unacceptable demands by
the United States. On Monday we will
hear from the Pentagon's number one
weapons supplier. It is expected to
report its fourth-quarter results.
Joining us is Michael Hewson,
chief market analyst at CMC markets.
Let's stay with the US. That is the
focus for markets this week.
Certainly what I am paying
particular attention to this week.
It has been the worst start for the
US dollar since 1987 in terms of
performance. We have seen six
successive weekly declines since the
last Fed meeting. I will pay
attention to whether or not the
Federal reserve upgrades its
economic forecast for the year ahead
in light of the recent tax cuts that
were implemented by the Obama
Administration. I think it would be
a big week for the dollar. Will we
see a rebound after six weeks of
Just on that point, the
pound is weaker today. Is that
because the dollar is coming back a
bit or is it because of concerns
about Theresa May and what is
happening with regards to Brexit?
don't think concerns about Theresa
May and Brexit at anything new if
you look at what the pound has done
since August, it is up 7% on a trade
weighted basis. What we have seen
today is a bit of a dollar rebound
was if you look at the pound against
the euro, it is pretty much flat on
What else are you watching
out for? Any earnings you want to
keep an eye on?
significant earnings coming out this
week. Particularly the oil
companies. Will the higher oil price
be reflected in the headline
numbers? Will the return of the
dividend signify by other rises in
the share price?
As always, it is
good to talk to you. Talking us
through what the city is keeping an
eye on. Let's talk about a story
about that cannabis industry. One
company that is helping marijuana
owners turn their plants into big
business. You are with Business Live
from BBC News.
Is your job is safe from the rise of
robots? People in the Midlands are
more vulnerable to the rise of
automation. We have been finding out
more. It is machines like these that
are starting to take the place of
workers more and more for that this
is a car park distribution centre in
Chesterfield. The reason they are
improving as a business businesses
because they are getting more and
more automation. This report
highlights the fact they think of
this that the jobs in the UK could
be at risk. More importantly, they
say, the benefits may only be seen
in the south of England and the
south-east of England, London and
the South East. The North and the
Midlands, the East Midlands like
here, could see not so much of the
benefits of that. When you look at
the potential benefits of automation
and robots quite you can see
businesses like these can become
There are going to
be job losses over the next ten, 20
years. There will be innovations
like robots taking jobs away. People
are concerned about that. The key
messages our jobs will be lost but
opportunities will be created and we
need to prepare people for that
A lot of opportunity
and a lot of things for areas like
Chester built to have to take into
account. It is not just warehouses,
it is retail assistance and
insurance brokers as well put up
still be opportunity for growth as
There's quite a bit on that subject
on our website so take a look if you
are interested. Regulators are to
investigate the audit of Carillion,
carried out by KPMG. They say the
move follows inquiries made since a
profit warning in July, and you will
know there's a lot of criticism over
why Carillion was still awarded
contracts even though it had issued
profit warnings. There's lots of
detail on that story and also more
on the Business Live page about
companies impacted by the Carillion
You're watching Business
Live - our top story:
Another Brexit milestone -
the EU decides on what it wants,
and what its willing to be flexible
on, in negotiation with the UK.
That could have an effect on markets
in Europe too so let's have
That could have an effect on markets
in Europe too so let's have a look.
We have seen weakness with the pound
as the uncertainty continues.
We have seen weakness with the pound
as the uncertainty continues.
Now we are going to talk about
something that is very controversial
and most people have strong opinions
about this. We are talking about
burgeoning of a very lucrative
industry of marijuana.
But first we are going to talk about
artificial intelligence and
Technology is proving a game changer
for many industries.
Forget about that, back to
Have you had some?
in the Green room! No, I haven't.
There has been
a growing awareness that
schools need to revamp,
to give today's students the digital
skills they'll need in the future.
And, there's big money in it too.
This education dollar has brought
almost a thousand Edtech
companies here to London.
Our reporter Katie Silver went
along to take a look.
Going inside Volcano, a trip to New
York or to space, Virtual reality,
they tell me, is the future to
You can put the camera in
and create your own 360 content.
company Weblogs has partnered up
with Google to sell virtual reality
sets to schools. The tech giant has
made no-frills version of its own.
This is literally a piece of
cardboard with telescopic lenses and
inside is a smartphone.
cardboard versions cost $15 each but
it's unclear how parents will feel
about Google being so embedded in
classrooms. Robotics company I spoke
to also wants to educate tomorrow's
They are getting an
introduction to computer science,
mechanical engineering, electrical
systems. These are really in demand
careers at the moment.
also using drones to inspire
children to cope. Using software,
children programme machines and
learn mathematical concepts at the
same time. It is expected to reach
$150 billion by 2020 and brought
exhibitors like these from around
the world, hoping to break
themselves off a bit of that pie.
When you build something that adds
value instantly and is so simple,
there's many companies working into
this space but it takes a certain
mix of technologies to understand
the classroom and teacher. Whoever
gets that right sees the volume
even companies allowing children to
print greedy pens perfectly tailored
to their grip. -- 3D pens.
Fascinating, now onto the
controversial debate I tried to
introduce to you three minutes ago.
Yes, it was worth waiting for. You
work just teasing.
In the US,
cannabis is legal medically in 29
states and recreationally
in nine others.
The latest figures
show the market was
worth $7.1 billion in 2016
and it's growing every year.
The UN estimates the global industry
is worth $142 billion.
And transforming the sale
of cannabis from an illegal to legal
endeavour means creating a lot
of new jobs - some estimate
over a million - and,
of course, revenue from tax.
To help navigate
the business world of cannabis,
is a company called BudTender.
It's chief executive
Ebony Costain is with us now.
You help people work out how they
can make jobs, pay their taxes and
do this properly as a business, how
does it work?
We are an online
platform working with cannabis
brands to deliver information to
people responsible for selling the
products, and they are called
BudTenders. You have to have a
BudTender to facilitate
transactions. With advertising laws,
with cannabis, very restrictive so
brands are having a hard time and
how to get there rounded product
information in front of the
So this helps them
navigate the market, what they can
and cannot do. We were surprised how
many products there are. This isn't
just about the leaf.
No, you have
edibles, topicals, patches, even
inhalers, so thousands of products
and they are all different in
different states so being able to
keep up with that information is a
lot for the BudTenders.
You are in
Colorado, which is where it has
become legal in the last five years
and the industry there has boomed,
hasn't it? You moved from Virginia
to Colorado where you could provide
this business legally. How do you do
that, because if you are going to
provide information about thousands
of products which the user needs to
know all the different elements and
whether it affects them chemically
well or not, whether it will supply
the medicinal lead or not, how do
you know what's involved in each of
We work very closely
with the brands and help deliver
their product information, their
brand stories so we are not just
guessing on our own. We are working
hand-in-hand with the brands we work
And they pay you money, don't
be, so if I'm going on your website
and I want to find out about the
different brands, how do I know your
information is impartial and not
skewed by the fact they pay you to
tell me about their products?
understand that but it is a
marketing platform. How you see
advertisements in commercials and
magazines, it is up to the consumer
to filter through that.
It is pretty
rare there is an industry that is
created overnight, and to be at the
forefront of it from early stages,
are you now looking around the world
at where else this is applicable?
Where governments are thinking
should we legalise?
Yes, the great
thing with our platform is it is
scalable since it is online
technology, we can go to Israel or
So where are you
Clearly the US, California
will be a huge market. In a couple
of years they are expected to see $1
billion with the tax revenue.
you have to be right across the
moor, don't you. In the States where
you are writing I know there's a
pile of BudTenders being
investigated in Colorado because
they have been giving customers too
much cannabis and there's strict
regulations about it.
still a lot of grey areas we are
trying to figure out in the States
but I think in the next five to ten
years, this industry is wealth
Ever need, really good
to see you. Thank you for explaining
Thank you for having me.
many people have been in touch about
this. We will have to retweet them,
won't we? Matt says think about tax
revenue. Paul says plusses and
minuses but why not tax it and
profit from it.
That's it from
Business Live today.
Have a good day, goodbye.