:00:00. > :00:09.Right, if you want to know what is going on in the financial world, I
:00:10. > :00:19.can tell you that Sally is here with World Business Report.
:00:20. > :00:22.Today politicians in the European Parliament get a chance
:00:23. > :00:25.to debate Brexit with MEPs well aware they have a final say once
:00:26. > :00:33.Another brick in the wall: The bidding process for the building
:00:34. > :00:35.of President Trump's controversial wall along the US-Mexico
:00:36. > :00:53.Hello and a very warm welcome to World Business Report. I am Sally
:00:54. > :00:55.Bundock. Also in the programme we'll be live
:00:56. > :00:59.in Mumbai for the latest on the UK Finance Minister's
:01:00. > :01:09.trade trip to India. But first, let's start with the news
:01:10. > :01:13.that it has been a week since the United Kingdom finally gave the
:01:14. > :01:16.European Union formal notice that it wants to leave.
:01:17. > :01:19.And in a few hours' time, today, the European Parliament is starting
:01:20. > :01:22.on what it wants to see from the negotiations.
:01:23. > :01:24.And this matters because the Parliament can veto any final
:01:25. > :01:27.agreement made between the UK and the European Council.
:01:28. > :01:30.One of the big issues they'll be looking at is the size
:01:31. > :01:36.A figure in the region of $60 billion has been widely reported.
:01:37. > :01:40.At the moment the two sides are bound by trade worth
:01:41. > :01:49.The future of that will be discussed and the initial
:01:50. > :01:51.draft also warns the UK against starting any trade
:01:52. > :01:54.negotiations with other countries whilst it's still a member
:01:55. > :01:56.Britian's role as the world's biggest exporter
:01:57. > :02:00.of financial services is also picked out with a warning the UK shouldn't
:02:01. > :02:02.expect "privileged access" to the EU's internal market.
:02:03. > :02:05.There is also a call for "legal certainty" for companies.
:02:06. > :02:08.An estimated that some 300 thousand UK firms currently export to the EU.
:02:09. > :02:11.And two leading industry regulators are also facing
:02:12. > :02:17.the prospect of being relocated from their current London offices.
:02:18. > :02:19.They are the European Banking Authority and the European Medicines
:02:20. > :02:23.And the future of Northern Ireland and the Irish Republic
:02:24. > :02:28.But there's also a shared land border and particularly strong trade
:02:29. > :02:35.With me is Mary Rose Burke, Chief Executive of the Dublin
:02:36. > :02:45.Good morning. Welcome to World Business Report. So how optimistic
:02:46. > :02:51.argue about this process? Well, I think the initial nervousness that
:02:52. > :02:57.our members had immediately after the recommended has abated somewhat.
:02:58. > :03:03.-- are you about. There is some relief that the process has started.
:03:04. > :03:07.Interestingly, our members, one in five of them feel that there could
:03:08. > :03:13.be an opportunity for them in Brexit. The remaining 80% are
:03:14. > :03:19.concerned about the cost to their businesses. How have your
:03:20. > :03:23.businesses, members in Ireland, been affected so far? Particularly food
:03:24. > :03:27.and drink and tourism and retail have seen an impact, particularly in
:03:28. > :03:32.the second half of last year. So a very real impact, they are,
:03:33. > :03:45.primarily driven by the weakness of sterling. We expect that to continue
:03:46. > :03:54.in the great British two -- GB tourist island. That is very
:03:55. > :03:58.important to you, isn't it? Yes, that small to medium size
:03:59. > :04:03.businesses, to export about 40% of their goods to the UK. -- Ireland.
:04:04. > :04:06.Talk us through some of your members, who are now seeing
:04:07. > :04:13.opportunities and the impact of this shift. Talk us through those. Well,
:04:14. > :04:17.there might be a relocation of some institutions to Dublin, perhaps in
:04:18. > :04:21.construction and in retail, and something will pick up on that. In a
:04:22. > :04:26.chamber, we have also seen more contact from members seeking help in
:04:27. > :04:30.diverse of buying both their markets and product development. So while
:04:31. > :04:34.people are still reliant on the UK, those businesses are also looking to
:04:35. > :04:38.see how to mitigate that. Suddenly I heard from quite a few analysts, and
:04:39. > :04:42.also company bosses that I have spoken to since June last year, they
:04:43. > :04:48.have said that many working here that Dublin is the place to relocate
:04:49. > :04:52.to or to have a European HQ, as it were. Have you seen a lot of
:04:53. > :04:57.activity from that point of view? We have. A lot of people make that
:04:58. > :05:01.initial assessment. There are certainly been some pressure coming
:05:02. > :05:06.on the office-based, but we do expect to see that accelerating, but
:05:07. > :05:11.a Glen Abbey processor started. Thank you for joining us this
:05:12. > :05:20.morning. We will keep a close eye on what is going on. -- but now
:05:21. > :05:27.especially now be process has started. -- the process.
:05:28. > :05:30.It's the final day of the UK Finance Minister visit to India,
:05:31. > :05:33.along with the Governor of the Bank of England and other
:05:34. > :05:37.Today is all about showcasing the UK's financial services -
:05:38. > :05:41.Philip Hammond and Mark Carney are in Mumbai meeting Indian
:05:42. > :05:44.financial tech firms and the head of India's Central Bank.
:05:45. > :05:46.It's Hammond's first foreign trip since Article 50 was triggered,
:05:47. > :05:49.starting the process to take Britain out of the European Union.
:05:50. > :06:04.Lovely to see you. Tell us a bit more about today's agenda. Well, the
:06:05. > :06:08.Chancellor will be attending a couple of events with the
:06:09. > :06:12.underwriters come with. He is attending an event where they will
:06:13. > :06:15.be talk about start-ups, after which they are addressing a conference
:06:16. > :06:20.that will have business leaders from the world of financial services. You
:06:21. > :06:23.were referring to the UK being the biggest exporter of financial
:06:24. > :06:27.services. So they want to pitch that is one big industry where the UK and
:06:28. > :06:32.India can really partner. Because India, as you know, is a growing
:06:33. > :06:36.economy, that is trained to grow its digital base across the country, and
:06:37. > :06:39.the UK is trained to say that they could partner with India to meet
:06:40. > :06:45.those aspirations, particularly when it comes to digital rollout across
:06:46. > :06:49.the country. And so, this is very important groundwork that is going
:06:50. > :06:53.on, yesterday and today, in terms of any future trade deals that are
:06:54. > :06:56.hammered out. You have to be reminded that they cannot have any
:06:57. > :07:07.official trade talks, yet. That is right. Both the finance minister and
:07:08. > :07:11.the Chancellor of India have pointed out that after the Brexit process is
:07:12. > :07:14.over, they will start negotiations. They are ready trained to understand
:07:15. > :07:17.the issues where these countries can work together. India has been making
:07:18. > :07:21.this point about immigration, because a lot of Indians travelled
:07:22. > :07:28.to the UK every year, but now there are concerns that because of Brexit
:07:29. > :07:39.and a crackdown on, all restrictions on visas, Indian students might
:07:40. > :07:42.suffer. They want to hear that the number of visas for Indians will not
:07:43. > :07:45.suffer. They want to see if they can partner when it comes to
:07:46. > :07:49.infrastructure, because that is one place where India needs a lot of
:07:50. > :07:55.investments in partnership, and the UK feels can play a big over there.
:07:56. > :07:58.Thank you very much for joining us Sameer. We will speak to you later
:07:59. > :07:59.in the day. The deadline for contractors to bid
:08:00. > :08:02.for a chance to build the very controversial Mexico border
:08:03. > :08:04.wall has just closed. Several firms will now be chosen
:08:05. > :08:07.to build prototypes, But this is one project that
:08:08. > :08:11.won't be smooth sailing The boss of one company,
:08:12. > :08:15.based in Texas, said he has received about a dozen death threats
:08:16. > :08:17.since publicly expressing Other companies have asked
:08:18. > :08:26.if authorities would rush to help their workers came under attack,
:08:27. > :08:37.and if employees would be allowed Donald Trump's proposal to build a
:08:38. > :08:42.border war with Mexico has drawn interest from hundreds of companies
:08:43. > :08:46.around the country. A US official told the BBC the finalists will be
:08:47. > :08:51.picked in the next few months, and will be asked to build a prototype
:08:52. > :08:54.wall in the San Diego area. Some of the ideas are unconventional. One
:08:55. > :08:59.Miami firm is proposing a sustainable structure built out of
:09:00. > :09:04.recycled shipping containers. But according to some media reports,
:09:05. > :09:09.many bigger companies are steering clear of the project, building a
:09:10. > :09:12.wall was a cornerstone of Donald Trump's Presidential campaign. It
:09:13. > :09:15.was also one of his most controversial policies. -- steering
:09:16. > :09:21.clear of the project. Building a wall. It is not yet clear who will
:09:22. > :09:26.pay for the wall. The deadline to submit bids came as news emerged
:09:27. > :09:32.that illegal crossings from Mexico have fallen 67% under Donald Trump.
:09:33. > :09:38.That was Michelle, of cores. Let's Sheedy markets in Asia. Trading
:09:39. > :09:41.better than yesterday. Hong Kong reopened and China reopened. Many
:09:42. > :09:45.markets were closed for a bank holiday. They are all open today.
:09:46. > :09:49.The South African rand has steady today. We go to the United States.
:09:50. > :09:55.You can quickly see others' markets ended the day, they are. You can see
:09:56. > :09:59.a flat day, they are, in the US as well. I will be back shortly and we
:10:00. > :10:15.were reviewed the other stories in the papers soon. See you then. -- we
:10:16. > :10:17.will review fee. -- the. Theresa May has hinted that