:00:00. > :00:00.Now for the latest financial news with
:00:00. > :00:25.Marathon talks in Brussels reap rewards for Greece.
:00:26. > :00:27.At last some debt relief and another cash
:00:28. > :00:33.Rights, camera, action - the European Commission takes
:00:34. > :00:35.on the world's biggest players in digital media
:00:36. > :00:41.but what will the changes deliver for businesses and consumers?
:00:42. > :00:53.Eurozone finance ministers have agreed to unlock another $11.5
:00:54. > :00:54.billion worth of bailout funds to Greece.
:00:55. > :00:57.After marathon talks that ended in the early hours
:00:58. > :01:00.of this morning in Brussels, it was also agreed to phase in debt
:01:01. > :01:03.relief in two years' time - a key demand of the Greek government and
:01:04. > :01:07.The 19 ministers said the deal had been made possible by Greece's
:01:08. > :01:10.Pierre Moscovici, European Commissioner for Economic and
:01:11. > :01:34.We have now good agreement in place, which is as we expected and
:01:35. > :01:37.hoped, a global agreement which opens the way for significant
:01:38. > :01:43.disbursement of much-needed funding for Greece and for import and
:01:44. > :01:54.measures on debt relief. Above all, this opens the way for a return of
:01:55. > :01:58.the confidence that is so essential for lasting economic recovery in
:01:59. > :02:05.Greece, which is the purpose, so it is a very important moment in the
:02:06. > :02:07.long and sometimes ethical story -- important measures. It certainly was
:02:08. > :02:09.a difficult story. As part
:02:10. > :02:11.of the measures agreed Greece will gain a short-term re-profiling
:02:12. > :02:14.of its loans, while more expensive debt could be "swapped" with
:02:15. > :02:17.cheaper loans to bring down the That is quite radical for Greece,
:02:18. > :02:22.really. The likes of Amazon Prime
:02:23. > :02:24.and Netflix and could be just hours away from
:02:25. > :02:28.being forced to make more of their The move is part of a raft
:02:29. > :02:33.of proposals that will be unveiled later today as part
:02:34. > :02:36.of a plan to shake up the EU's broadcasting rules which haven't
:02:37. > :02:38.been updated in six years. The European
:02:39. > :02:40.Commission is expected to rule that at least 20% of the streaming Giants
:02:41. > :02:43.content consists of European TV Netflix has already
:02:44. > :02:50.denounced the plans saying they will lead to streaming sites buying lots
:02:51. > :02:54.of poor quality content just to make The plan could also
:02:55. > :02:57.leads to more rigorous age restrictions for certain content
:02:58. > :02:59.on sites like YouTube which traditional broadcasters wouldn't be
:03:00. > :03:02.able to show during the day. These include an end
:03:03. > :03:05.to the practice of Geo blocking - which has until now prevented
:03:06. > :03:07.customers in one country from buying electronics, clothing, shoes
:03:08. > :03:10.and other goods from online stores With me is Phil Sherrell, head of
:03:11. > :03:17.media at Bird Bird, joins me now. It is good to see you again. We have
:03:18. > :03:21.mentioned those elements but there is more. We expect a lot of come out
:03:22. > :03:22.today. They are the big things I have highlighted, the liberalisation
:03:23. > :03:29.of advertising rules for TV broadcasters, we expect ITV to have
:03:30. > :03:35.more flexibility to schedule adverts in prime time, and a big proposal to
:03:36. > :03:39.push more onto the platform is to say, you've got to pay more for
:03:40. > :03:46.content you are accessing, YouTube and music, which could be radical.
:03:47. > :03:52.Talk us through the reaction from Netflix. Headache? They say it will
:03:53. > :03:57.make them fund EU content which consumers don't want to watch and it
:03:58. > :04:01.is just gonna be lost. It is good news for EU and UK production
:04:02. > :04:08.companies who have forced the man for services. In terms of the rights
:04:09. > :04:14.issue, it must be a minefield? Yes. The biggest looks like they won't
:04:15. > :04:18.address, in the context of geo- blocking, they have been talking
:04:19. > :04:21.about forcing sports and media right owners to attend the rights
:04:22. > :04:28.internationally across the EU and stop passing it out by country. From
:04:29. > :04:32.the draft we have seen at his -- that has been dropped but we expect
:04:33. > :04:36.it to return later in the year. What does it mean for the European
:04:37. > :04:42.consumer? Will it make services better, or more complicated? There
:04:43. > :04:45.are different dynamics going on. It is a strong pro- consumer agenda,
:04:46. > :04:49.which we saw with these content rules which have already come out
:04:50. > :04:53.around allowing you to take UK subscriptions across Europe when
:04:54. > :04:58.travelling on business. It is a strong consumer element. And a
:04:59. > :05:03.strong EU create a element. It is about EU looking after media
:05:04. > :05:09.companies at the expense perhaps of US streaming services and platforms
:05:10. > :05:13.-- element. With a Netflix, but Amazon and others, they cannot do
:05:14. > :05:18.much, if they want to be in Europe they have to play ball? A draft is
:05:19. > :05:22.out today and thinking behind it is EU broadcasters are already subject
:05:23. > :05:25.to rules around local content and investment. From their perspective
:05:26. > :05:31.it is levelling the playing field for services competing. It is about
:05:32. > :05:33.keeping it fair. We shall watch this space with interest. Thank you for
:05:34. > :05:35.coming into its plane all of that. Tata Steel will announce
:05:36. > :05:37.its financial results for the first three months
:05:38. > :05:39.of this year later today. And they may also reveal which
:05:40. > :05:42.bidders will continue in the race to Tata Steel is unloading them
:05:43. > :05:46.because of steep losses. So what does all this mean
:05:47. > :05:51.for the financial prospects This is where Tata steel began
:05:52. > :05:59.its journey. Central India more
:06:00. > :06:04.than one century ago. Among the country's oldest steel
:06:05. > :06:06.companies, it grew to be one In 2007 it made a bold move,
:06:07. > :06:11.buying British factories, including The once prized possession
:06:12. > :06:23.is now a financial burden. Tata Steel wants to sell
:06:24. > :06:26.off its entire UK business and hopes Coming out of loss-making business
:06:27. > :06:35.in the UK has overall improved profitability and reduced the burden
:06:36. > :06:42.on the domestic business for Tata. They have been doing well
:06:43. > :06:44.in the domestic business. In terms of profitability
:06:45. > :06:54.and the margins. The decisions made in this building,
:06:55. > :06:58.the headquarters in Mumbai, are not aimed at shrinking part
:06:59. > :07:00.of the company hurting the bottom line, but also expanding in areas
:07:01. > :07:04.where there is money to be made. It recently opened up a factory
:07:05. > :07:06.in eastern India. And
:07:07. > :07:08.while the domestic business is doing Domestic demand, which should have
:07:09. > :07:15.picked up, or expectation of Steel companies
:07:16. > :07:24.in India are increasing capacity. And then
:07:25. > :07:27.of course there is competition from China which has been flooding
:07:28. > :07:30.the market with cheap steel. Even without its UK business,
:07:31. > :07:33.this Indian giant has many irons Uber, Gett - they're all tying up
:07:34. > :07:46.with carmakers with investments With more of the details, Sharanjit
:07:47. > :08:03.Leyl joins us from Singapore. It is nice to see you. Tell us more.
:08:04. > :08:08.That is right. Toyota has hailed a ride with Uber and VW with the
:08:09. > :08:10.operator Gett. These are separate partnerships, where in investment
:08:11. > :08:16.and technology research figure prominently. Toyota will invest an
:08:17. > :08:21.unspecified amount in Uber and offer leasing options for drivers. The
:08:22. > :08:31.companies will share knowledge and speed up efforts in driverless cars
:08:32. > :08:38.research and technology like in car apps, and VW will work with Gett in
:08:39. > :08:41.several European cities. The Gett CEO said that would involve
:08:42. > :08:46.technology and innovation also. We know that these deals follow the
:08:47. > :08:53.Apple $1 billion investment in the Chinese service a couple of weeks
:08:54. > :08:59.ago and in March GM invested $500 million into the US Uber rival Lift
:09:00. > :09:02.to develop and OnDemand network for self driving cars, all suggesting
:09:03. > :09:08.the nature of transport, getting from A to B is changing
:09:09. > :09:14.dramatically. It is indeed an thank you. -- and.
:09:15. > :09:17.In other news: Huawei is suing tech rival Samsung over claims that
:09:18. > :09:21.The Chinese firm said it was pursuing its South Korean rival
:09:22. > :09:24.in two courts - one in California, the other in Shenzhen.
:09:25. > :09:26.Huawei says that several of its cellular communications
:09:27. > :09:28.and software inventions had been used in Samsung's phones without
:09:29. > :09:31.Monsanto has rejected a $62 billion offer from Bayer that
:09:32. > :09:33.would have created the world's biggest agricultural supplier.
:09:34. > :09:36.The US company said he offer was "financially inadequate",
:09:37. > :09:38.but left the door open for a potentially higher bid.
:09:39. > :09:39.Hugh Grant, Monsanto chief executive,
:09:40. > :09:41.said the proposal significantly undervalued the company.
:09:42. > :09:44.He also raised concerns about whether a deal would be
:09:45. > :10:01.That is all from World Business Report. To mention the markets in
:10:02. > :10:09.Asia, riding high off the back of a good session in Wall Street before.
:10:10. > :10:10.I will see you soon. -- a good session in Wall Street the night
:10:11. > :10:13.before. Nurses
:10:14. > :10:15.and midwives will lobby Parliament today calling for a re-think
:10:16. > :10:18.of plans to scrap maintenance The proposals to axe the allowances
:10:19. > :10:22.were first put forward in November last year as part of
:10:23. > :10:25.the Chancellor's spending review.