:00:00. > :00:21.The shadow boxing is over as David Cameron rings the starting bell
:00:22. > :00:26.on the renegotiation of Britain's European Union membership.
:00:27. > :00:30.And, Portugal primed for a new direction.
:00:31. > :00:33.The anti-austerity parties of the left now say they now have enough
:00:34. > :00:54.In a minute we'll have the details on some big deals
:00:55. > :00:58.David Cameron is due to write to the president of the European
:00:59. > :01:01.Council later today, setting out his demands for reforming the EU.
:01:02. > :01:04.Britain's Prime Minister has promised the UK an in-out
:01:05. > :01:14.So, what will the letter to this man, the
:01:15. > :01:18.President of the European Council, Donald Tusk, likely include?
:01:19. > :01:23.Top of the list of demands is expected to be an opt-out
:01:24. > :01:26.from the ambition by some within the EU to forge an ever closer
:01:27. > :01:32.The British Government is also likely to do everything it can to
:01:33. > :01:38.negotiate a restriction to benefits for EU migrants living in Britain.
:01:39. > :01:41.Another of Cameron's renegotiation points will be to see if he can gain
:01:42. > :01:48.greater powers for the British parliaments to block EU legislation.
:01:49. > :01:51.The UK also wants measures to prevent vast migrations from any new
:01:52. > :01:55.Something strongly opposed by other members.
:01:56. > :01:57.Stuart Thomson, public affairs consultant,
:01:58. > :02:09.You know I am going to say it. Thankyou very much for coming in at
:02:10. > :02:16.this ungodly hour. This is important. This shadowboxing is
:02:17. > :02:19.over. The first time now, he is writing this letter. It is not
:02:20. > :02:27.likely to be a long shopping list. It is these four key areas, they
:02:28. > :02:33.enable Cameron and George Osborne to negotiate. They are vague. They will
:02:34. > :02:36.do a deal and come back with the package that will appeal to business
:02:37. > :02:41.audiences and other politicians. Especially the electorate. It is a
:02:42. > :02:48.political list. The four points on their hammer home the point is that
:02:49. > :02:54.Osborne and Cameron have been saying. -- there. No big surprise.
:02:55. > :02:58.Those watching at the moment all around the world, they are watching
:02:59. > :03:03.this... If they are vague will these objectives make any difference
:03:04. > :03:08.really to the voter when it comes to the referendum? That is absolutely
:03:09. > :03:16.the point. Will it do enough to reassure the people who are moving
:03:17. > :03:19.back and forth. The other two groups... Stay and go... There is
:03:20. > :03:26.free little that Cameron and Osborne can do. They have done a huge deal,
:03:27. > :03:34.everyone says, wow, fantastic. You have reassured us. That is not
:03:35. > :03:36.really going to happen. The vast majority, that bit of the electorate
:03:37. > :03:42.in the middle that they are trying to reassure that Europe is the place
:03:43. > :03:47.to do business, that they don't just impose political solutions and
:03:48. > :03:51.things that favour other countries over the UK... Does this make a
:03:52. > :03:58.difference to voters? What about the rest of Europe? Mixed views. Some
:03:59. > :04:03.countries will be very worried about what they would see as a free
:04:04. > :04:08.market, are geologically driven... Who, for example? France would be
:04:09. > :04:12.the obvious example. They have a way of doing business. Their economic
:04:13. > :04:18.model is different from the British one, still. They have their own
:04:19. > :04:22.pressures. Indeed, Europe itself has been trying to put a much more
:04:23. > :04:27.business focused on all the policies. Antiregulation, anti- red
:04:28. > :04:31.tape, they looking at the impacts on business. That is very much at the
:04:32. > :04:38.start of that racist. But it is something that written has wished
:04:39. > :04:43.for, is already doing. -- process. If they tighten it up businesses may
:04:44. > :04:48.be reassured, but is it much different from what they are doing
:04:49. > :04:53.now? Unlikely. What about the letter, Donald opens it, he reads
:04:54. > :05:00.it, then what? David Cameron goes on a? Detailed negotiating with the
:05:01. > :05:10.officials and then the deal. -- charm offensive. Is it early next?
:05:11. > :05:15.2017? They have a window in which they can win the referendum, and
:05:16. > :05:18.Cameron wants to win. Indeed he does. Thankyou very much. We will
:05:19. > :05:21.keep across that, of course. General Motors may face larger
:05:22. > :05:29.penalties in trials related to the A bankruptcy judge
:05:30. > :05:33.on Monday ruled GM could be charged with punitive damages for knowledge
:05:34. > :05:36.it had about faulty switches. GM argued it should not face these
:05:37. > :05:39.charges because its 2009 bankruptcy An absence
:05:40. > :05:51.of big civil aircraft orders on the second day of the Dubai Airshow has
:05:52. > :05:54.underlined a slowdown in the rate of Defence deals were again
:05:55. > :05:57.the main focus, although Emirates Airline signed
:05:58. > :06:00.a $16 billion deal for GE Aviation The previous Dubai show, in 2013,
:06:01. > :06:04.notched up a record $206 billion General Electric has won
:06:05. > :06:13.a $2.6 billion contract from the Indian government to build a fleet
:06:14. > :06:16.of new trains for the country. The US-based industrial company said
:06:17. > :06:19.it would supply India will 1,000 new diesel trains over
:06:20. > :06:21.the next 11 years. The deal includes
:06:22. > :06:23.a $200 million investment by GE to The Portuguese Prime Minister,
:06:24. > :06:42.has warned that abandoning the path of economic reform would be
:06:43. > :06:44.ruinous for the country. Mr Passos was seeking support
:06:45. > :06:47.for his government programme in the The left-of-centre majority wants to
:06:48. > :06:50.reject the programme and now says it can form
:06:51. > :06:53.a coalition government, which would Marc Ostwald, from ADM Investor
:06:54. > :07:10.Services International. Great to have you with us. Thank you
:07:11. > :07:15.for waking up so early. We haven't talked about Portugal for a while.
:07:16. > :07:23.Paint a picture. How is the economy faring? What sort of austerity has
:07:24. > :07:27.it seen? A lot of austerity measures. The economy is going OK.
:07:28. > :07:38.Doing better than some other countries. GDP growth of about 1.5%,
:07:39. > :07:41.2% per annum. Unemployment remains substantial, though. Youth
:07:42. > :07:50.unemployment? Again, it is a major robber. A problem with them... --
:07:51. > :07:55.problem. The balance between economic reforms and suggesting that
:07:56. > :07:56.economic reforms could be constructive in a different way,
:07:57. > :08:04.which is essentially what the current, oh, the new left coalition
:08:05. > :08:07.is saying. We can do this differently. Can we compare
:08:08. > :08:15.Portugal? Is what we have seen happen with Greece and the
:08:16. > :08:18.anti-austerity party is, is that what is happening with Portugal?
:08:19. > :08:23.There is a different. The vote for Syriza was an antiestablishment
:08:24. > :08:26.vote. With Portugal, this is actually coming from within the
:08:27. > :08:31.political parties, basically saying, we are voting against the Social
:08:32. > :08:37.Democratic Party, the one in power for the last two years. And we can
:08:38. > :08:44.do this differently. -- few. It is a slightly different movement. Could
:08:45. > :08:48.be left of centre... Could they bring down the government? That is
:08:49. > :08:54.certainly the expectation today. We will see the vote, the government
:08:55. > :08:58.failed with the confidence votes. Then you have the anti- social
:08:59. > :09:09.Democrat coalition coming in. However, it is a real hodgepodge of
:09:10. > :09:20.the Socialist party... -- Social Demorat. Then you have come in as
:09:21. > :09:23.and communist greens. -- communist. But they don't have much, ground
:09:24. > :09:27.between then. The suspicion locally is that they could vote down the
:09:28. > :09:33.current government. -- them. They have an agreement to bring down the
:09:34. > :09:38.current one. But it will fail within 3-6 because they have not got a lot
:09:39. > :09:42.of a man ground. And then we are back to, what, square one? That is
:09:43. > :09:47.where the risk for the economies lies. Business people are saying we
:09:48. > :09:56.don't know what will happen. Are we rolling back austerity? And... You
:09:57. > :09:57.took the words out of my mouth... Thankyou very much. We will keep
:09:58. > :09:58.across that. Don't forget you can get
:09:59. > :10:07.in touch with me and some of the I will be back later to take a look
:10:08. > :10:12.at some of the papers around the world.
:10:13. > :10:15.The government's plans to relax Sunday trading laws in England
:10:16. > :10:17.and Wales are facing defeat in the House of Commons.
:10:18. > :10:21.The SNP has told the BBC that the party has decided to vote
:10:22. > :10:24.against the changes amid fears they could drive