08/03/2018 BBC Business Live

Live from London, that's our top

story on Thursday, 8th March.

11 countries are expected to sign

a landmark trade deal -

as an antidote to the increasingly

protectionist direction

of the United States -

we talk you through what's at stake.

Also in the programme,

a new report reveals China has more

self-made woman billionaires

than any other country -

the top four spots come

from the Asian superpower.

Financial markets have starting the

trading day in Europe. Fairly flat,

if not mixed. We will tell you all

you need to know.

And if the shoe fits...

We'll get the inside track on how

one woman's business idea

for a fold-away shoe was rejected

130 times before becoming

a run-away success.

And on International Women's

Day, we want to know,

should women be used

as a means to sell cars?

So-called booth babes

are at Geneva Motor Show.

Let us know what you think -

is there still a role

for this in 2018?

Or is it out of date and sexist?

Just use #BBCBizLive.

Hello and welcome to Business Live.

Thank you so much for all of your

comments so far, we have plenty, we

will share them with you later.

One year after America's sudden

withdrawal from a global TPP trade

pact, the remainers are due to sign

a new deal later on Thursday

to virtually eliminate tariffs

in a marketplace worth close

to $14 trillion.

It's seen as an antidote to growing

US protectionism under

President Donald Trump

as he prepares to implement tariffs

on steel and aluminium imports.

The original

Trans-Pacific Partnership

boasted 12 countries bordering

the Pacific Ocean.

But President Trump pulled out

after coming to power,

leaving 11 nations to rebrand

the Comprehensive and

Progressive Agreement

for Trans-Pacific Partnership.

It may lack America's clout,

but still has marketplace

of 500 million people,

worth close to $14 trillion.

It

would abolish tariffs on seafood,

wine, sheep meat, cotton wool

and manufactured goods

across the region.

While changes to intellectual

property rules, something the US

demanded, could leave the door open

for President Trump,

as he has said he'd consider

returning if America

got a better deal.

I asked Suzanne Spears,

partner at law firm Volterra Fietta,

how significant this deal is.

It is very significant particularly

with Canada joining. Demonstrating

the number of countries both from

North America and from other regions

in the Pacific are still committed

to free trade, still committed to

the rules of the road of the global

economic order which is what the

trade agreement symbolises.

When

they announce these trade

agreements, it took years to

negotiate and President Urbana was

spearheading the negotiations at the

time when he was in office --

President Obama. They talk about the

degree to which it will boost the

individual economies, the growth

they will see, the growth in trade,

how people will benefit, will it

really bear that much fruit?

Yes, we

do see trade does in fact increase

GDP in the economy is in question

and there have been a number of

studies showing this trade agreement

alone will boost trade and

investment very dramatically at

least 1% increase in GDP over the

next few years for the involved. On

the other hand, quite clearly, there

are downsides, both to globalisation

writ large, as well as to trade

agreement like this and the

important feature is that this trade

agreement does do something to try

to address some of the downsides. It

has labour and environmental

standards it could be constituted as

the new generation of global free

trade agreements. As you know, in

the campaign, in the US, and in

other places, these trade agreements

have become the symbolism of

globalisation and of the dangers of

our economic system today and it is

important that there are voices that

counter that narrative and ensure

they represent the other side.

Let

us have a look at some of the other

stories making the news this hour.

French companies caught

discriminating against women over

pay will be given three years to

close the gap or face fines. The

government revealed the planned

crackdown to unions and employers on

Wednesday, giving them a month to

iron out the details. The measure

will be rolled out by 2020, if

passed by Parliament.

Japanese regulators are issuing

punishment notices to several

cryptocurrency exchanges and forcing

others to stop doing business.

This is to protect consumers,

after that theft of digital money

worth over half a billion

dollars from Coincheck.

Regulators said it lacked a proper

internal control system for risks

like money laundering

and terrorism financing.

China's exports unexpectedly

surged at the fastest pace

in three years in February,

suggesting its economic

growth remains resilient,

even as trade relations

with the United States

rapidly deteriorate.

China's exports to the world

surged 44.5% compared

with the same period last year,

while import growth

was a disappointing 6.3%.

Here is a question for you.

Which country has the most self-made

female billionaires?

The answer - revealed

in a report today - is China.

The Hurun Rich List shows the top

four self-made women billionaires

are in fact Chinese.

Leisha Santorelli is in

Singapore with details.

Quite a figure, isn't it?

Absolutely. China remains a very

patriarchal society but women are

very clearly making their mark. But

female leaders at the top ranks of

China's Communist Party are almost

nonexistent, but the companies and

the rich list, you can see it is

home to most of the world's

self-made female billionaires. The

number one spot, she grew up in a

really poor village, now worth

nearly $10 billion, and this took

place after she founded a company

making glass covers for laptops and

smartphones and Apple and Samsung

are among her biggest customers.

Globally, only the 16th richest

woman, but if you look deeper at

this list, most of those women on

those lists are either married or

inherited wealth, so this makes her

achievement a lot more impressive.

Some other interesting findings from

this report, the founder of

Vietnam's budget airline is the

highest new entrant, at 28. Another

interesting finding is India which

has a very similar sized population

to China only has one woman on the

self-made billionaires list.

Really

interesting. Thank you. From our

bureau in Singapore. Looking at the

financial markets today, Australia

is down a little bit, but not

reflecting Asia as a whole, we saw

Japan up at the close, around 0.7%

higher, Hong Kong, 1.5% higher, the

Dow closing behind me. Europe right

now... The story dominating markets

this week has been the conversation

about trade, possibility of a trade

war, you're responding, what the US

may do, what Donald Trump has

tweeted -- Europe responding. Pretty

flat. We will talk more in a moment.

Let us look ahead.

And Joe Miller has the details

about what's ahead

on Wall Street Today.

While Wall Street waits for concrete

details of Donald Trump's proposed

steel and aluminium tariffs,

and weighs up the prospect

of a full-blown trade war,

there'll be weekly jobless

numbers to digest.

The fewer out of work

people in the US economy,

the more money there is available

to spend, which plays

into investors' fears

over rising inflation.

The US Labor Department is expected

to report that unemployment claims

have continued to drop,

and this should help investors

prepare for Friday's

big banner data dump,

the monthly employment numbers,

which last month were strong enough

to send markets into a spin.

And Walt Disney will hold its annual

shareholder meeting.

This one is bound to be an eventful

one, as the company is awaiting

approval for its purchase of 21st

Century Fox's film

and TV businesses.

Joining us is Sue Noffke, UK

equities fund manager at Schroders.

Volatility on the markets, what do

you see as the long-term impact,

especially with the White House

going back on it slightly in the

past few hours?

We do not know what

we are dealing with in terms of

protectionism, the threat it takes

place, that it spreads, that would

be very bad for markets, but at the

moment, markets do not know and we

are seeing that influx. Rises and

falls, or Falls and recouping

losses. A swing towards more

domestic and small caps...

He is

fulfilling what he said on the

campaign trail, this is what he said

he would do?

Yes, but some of his

party are not happy.

When you say

they are rowing back, the discussion

about perhaps Canada, Mexico,

perhaps not being a part in the

trade tariffs on steel and

aluminium, but as you say, we have

nothing concrete to go on?

We know

they might say something more today.

He might sign something today, we're

waiting with bated breath. What we

know is going to happen is the

European Central Bank is meeting

today, more economics to look at

tomorrow, bank of Japan and jobs

figures in the States.

The drivers

for financial markets, certainly in

the short-term. It is all about

monetary policy and whether the jobs

data in the US will mean more rate

rises in the rather than the three

booked in and what are they going to

say in Europe about quantitative

easing?

Lots to keep you busy today!

Indeed. And tomorrow.

You will be

back later. Not off the hook yet.

More work to do. Still to come...

Putting your best foot forward.

How the fold-away shoe

became a run-away success.

You're with Business

Live from BBC News.

Fast... Not fast. We have been

talking about running away. Getting

my words mixed up. First...

Domino's Pizza, Britain's biggest

pizza-delivery firm,

has reported a 10.2% rise

in annual profits.

Domino's - which has stores

in Ireland, Switzerland

and Germany as well as the UK -

says it benefited from strength

in domestic and European markets.

Neil Wilson, senior analyst

at ETX Capital joins us.

A success story on all fronts?

A

great year for Dominoes, revenues

ahead of expectations, this has come

off the back of really strong volume

growth as they expand a lot of new

stores in the UK and across Europe.

Naturally underpinning this, despite

the fact like for like sales are

maybe not growing quite as fast as

they have been in the past.

That is

encouraging to hear Domino's is

doing well or is it a reflection it

has not got very strong competition?

Such a strong brand when it comes to

pizzas being delivered to your home.

It is a very strong brand.

Internationally, everyone knows the

brand very well. It faces quite

stiff competition in the UK,

actually, when we look at Just Eat

which has risen very rapidly. There

is a slightly softer market in the

sense restaurants, casual dining,

maybe not doing so well, that allows

Domino's and the like to pick up

some of the value conscious

consumers who want to treat... But

they do not want to splash out on a

meal out.

Is it a reflection of the

economic times we are in, the fact

people, as you say, they want a

takeout but they cannot afford what

they would really like?

I think that

is very much the case. The market

has shifted a little bit. We see

restaurants are not able maybe to

drive home the values they could

because they have much higher fixed

costs, minimum wage increases to

deal with, business rates, and

Domino's and others can really drive

home the value, they can absorb some

of the costs and I think that is

helping them at the moment.

Thank

you very much. Senior a -- senior

analyst. Do take a look at the

Business Life page.

You're watching Business

Live, our top story:

A new deal without

the United States,

the Trans Pacific Partnership

will be formally

signed in Chile today.

A quick look at how

markets are faring.

Trading in Europe, we have been

going for 45 minutes, and pretty

flat, look at Germany, hardly any

movement, some would say it is nice

to have a breather, but maybe

investors are sitting on the

sidelines, waiting for more action

or inaction from the White House.

Now let's get the inside track

on a business that's managed

to fold its way to success, yes,

that's right I said fold.

I have got so many puns on this one

to avoid!

Cocorose is a footwear

brand with a difference,

because while other companies

are focused on making

their shoes rigid, Cocorose makes

all of theirs foldable.

Why? Founder Janan Leo started

the business after finding

a lack of comfortable shoes

she could commute in before folding

them away into a bag if she wanted

to change into heels.

And she's clearly not alone,

because the company now sells

the shoes in more than 30 countries

and turns over $1.4m a year.

They have been worn by everyone

from Dame Helen Mirren

to Pippa Middleton.

And Samantha Cameron, I think as

well. We have got Janan Leo, founder

of Cocorose, and she has brought in

some of the issues, we want to see

them in action. Nine actor wants to

put them on?

I will show you! Tim, why don't you

have a go?

The ultimate Cinderella thing! As I

understand, it is all in the sole.

Yes, it is flexible but comfortable,

you can see the padding, this has

been fundamental to the brand in

terms of having that comfort.

But

you have so many knock backs,

explain that.

I have loads of

rejection, but that just helps to

make you even more determined to

kind of really want to push on and

just is not fail. I think having

that rejection actually makes you

more determined.

I must admit,

looking at these, I am intrigued, I

am always wearing other shoes when I

race to work in the morning, other

than the one I have got now, my TV

shoes, as it were! But talk us

through how difficult you found it

to start this, we will be discussing

later how women who try to start

businesses, it has been proven that

they find it hard to raise funding,

partly because those were likely to

invest, it is a very male dominated

world.

When I started ten years ago,

I actually started with self

funding, I was working full-time as

well, and I set it up in that way.

And I did get knocked back by the

bank, I had to present my business

plan about three times before I was

able to get an overdraft, and then

over the ten years, we have

basically build it up ourselves in

terms of trying to really, you know,

take it one step further. Recently,

this year, we have started to raise,

or started on a journey to raise

investment, and I have been

surprised by how male dominated it

has been.

How much were you looking

for? I think eventually you found

someone in China to help?

It was

really difficult for me, because the

concept didn't exist, so it was

something completely new in terms of

developing it from the concept to

launch, so in a way it was almost

like, we don't do that. So it was

quite difficult.

Many people have

these great ideas, you know, they

come up with something they feel

will be a real winner, but you have

had success, the likes of Dame Helen

Mirren and Pippa Middleton wearing

your shoes, which is a gift, isn't

it, a marketing gift? How did you

get these issues, you know, sold in

shops, people's attention, in that

sense?

When we first started, we

were in recession in the UK, so it

was very much about taking the brand

and presenting and overseas as well.

So it was just trial and error all

the time, being able to go out to

different markets and really try to

work with different people.

And

clever marketing as well, giving

them out in goody bags and things,

you have targeted the A list, for

want of a better word.

We have

worked with Bafta and the Royal

Ballet, and we have long-standing

collaborations, and it has been one

of those partnerships, different

partnerships that allows a brand to

expand and to grow, and I think that

is really important for the

evolution of any brand.

So on

International Women's Day, we are

celebrating women in business, what

have you found that is difficult or

easy?

I think, for me, one of the

most rewarding, perhaps, has been

about the whole piece about Cocorose

has been about trying to make

women's lives easier, and for me,

this was why I started this. I loved

heels, uncomfortable heels, and I

just needed something that would be

able to help me get through the day

and really helped me to master my

day. So that was the whole reason of

coming up with it, and I realised

that it wasn't just for me, it was

for millions of women around the

world as well.

It is fascinating, I

have seen them around, haven't you?

I must admit, I haven't, but I am

extremely busy, I don't get out to

shop!

Not that I spend all my time in shoe

shops!

Has been great to meet you, thanks

for coming in. I might take these

back, will you? A nice sparkly bag

as well.

Sex sells.

It's an old mantra,

but one which the car industry

has been wedded to for decades.

It used to be the cliche, but is it

anymore?

At international motor shows

it's still common to see beautiful,

elaborately dressed women striking

poses next to whatever machine

a company really wants to show off.

But in the 21st century,

in the age of Me Too,

is this still appropriate?

We asked a few women attending

this week's show in Geneva.

ARCHIVE:

The Hillman Super Minx

is an eyeful,

standing up to the competition

with the three lovelies trying

it out for comfort...

It's not a good situation right now

to find some woman like that,

but at the same time,

women are responsible for

themselves, they make their choice.

Ideally, you go for knowledgeable

people, people that can

talk about the products.

Everyone is here to see cars,

people should be talking

about the cars and not looking

for nice things that

are there to look at

that aren't cars, necessarily.

Well, I was a glamour model myself

when I was very young,

and I quite actually like it,

I think the cars look beautiful,

but I think you need a little bit

extra to bring them to life.

So I'm not against it, I think

they add just a bit of spice.

Watching that with us, Sue Noffke,

some mixed reviews, but do you use

glamour models for a family car?

Maybe not, but you do for the

aspirational dream car, if you can

afford this car, you will get your

beautiful model girlfriend as well!

It seems old-fashioned, doesn't it?

Even listening to you, that is not

sounding great!

I pulled it back to

us that the last moment!

Let's look at what the viewers are

saying, we asked for your opinions,

Gary says booth babes are fine, if

both boys are too, why not keep it

to both sexes? No, another person

says, Beefy, keep them, should

topless men advertise products on

TV, then?

Women should be able to choose, says

Bonnie, it is the objectification of

women, another says. But the fact

that we are discussing it, I am

surprised they are still used like

this.

It is this old latecomer it came up

with the great girls in Formula One,

but let's talk about this story in

the Financial Times, but by their

personal finance editor, about women

being reluctant to invest, and why

is that?

I think it is around

self-confidence, and women tend to

know all the answers before they do

something, and there is a lot of

research to help women, but they

feel intimidated, particularly by

industry jargon. I have worked in

financial services all my career,

and there is a lot of jargon to get

your head around, to try and

unstagette. Men, on the other hand,

tends to be quite confident about

doing things that they do not know

and fully understand but which they

know are important, and investing is

important.

And if you are looking at

a fund, predominantly a men, the

fact that these men socialise with

each other and do the same sort of

things together, is that a problem?

There is a bit, but this is about

taking control of your own finances,

your financial future, and most of

us have pensions, and a lot of them

require decisions. And it is about

making sure that women understand

that they are empowered to take

decisions for their own financial

future. Many women will have

mortgages and may invest in second

homes.

And many will be dealing with

this on their own, quite a lot going

on, spinning plates.

What I would

say is that cash isn't the safest

investment, because it gets eroded.

Sue Noffke, we are running out of

time, lovely to see you. Thank you

for being with us on Business Live.

And lovely to have you here, Tim!

Lovely to sit here with the