this is business live from bbc news with susannah streeter and alice baxter. china's factories keep on churning. latest growth figures from the world's second biggest economy prove it's resilience. live from london, that's our top story on monday the 17th ofjuly. china grows faster than expected — but will measures to rein in debt put the brakes on the world's second biggest economy. also in the programme.... the uk's brexit secretary urges for both sides to get down to business — as the second round of formal talks with the eu begins in brussels. this is how the european markets have been faring so far, the ftse 100 in positive territory following on from a record close on wall

street on friday. and the transformation from sugary sodas — to sparkling water — we'll be talking to the head of soda stream. and game of thrones — the penultimate series of the blockbuster tv series is kicking off. it's reportedly worth a billion dollars a year. we want to know, are you still gripped and why? let us know... just use the hashtag bbcbizlive. hello and welcome to business live. china's economy is the focus of attention today. it has grown more than expected in the second quarter of this year — by 6.9% — this matters because the country is regarded as the world's factory. it's also the world's second biggest economy. as you can see here, it's a far cry from how things used to be — this shows how for much of the last 25 years, china has been growing much faster. one of the big worries is this number. 258% is the size of china's debts

compared to its economy. that means it owes more than two and a half time everything it makes in a year. much of the debt is linked to the red hot property market which the government is trying to cool. the cost of new housing in major cities rose 10.4% in may. the government also looks likes it is succeeding with another problem. this year chinese firms have spent $75.2bn on foreign merger and acquisitions which is down almost half on the same time a year ago. financial regulation has become a top priority for xi jinping's government. this weekend he's been at a meeting of regulators in beijing where he called for the country's central bank to take a bigger role in managing financial risks. stephen mcdonnell is our beijing correspondent. we just heard a run through the numbers, the second—quarter figures coming in slightly ahead of expectations but to what degree can

we trust the numbers? that's a very good question. i was going to save the government will be very happy with these figures, better than expected at you have to take into account that some analysts don't trust the gdp figures in china. that's because some provinces inflate their own performance to appear better than they have been and others play it down because they wa nt to and others play it down because they want to attract top from central government and there's been all sorts of problems in recent times, getting the problems is to tell the truth about gdp figures. nevertheless i think the trajectory is probably right, it's down on what it was in years gone by that people should also keep in mind it's coming offa should also keep in mind it's coming off a much bigger base. imagine, six and a half percent growth now is probably better than 8% growth some yea rs probably better than 8% growth some years ago because it's coming off so much more and really, economists have been saying china was growing

too fast anyway, that was part of the problem. we heard before the problems of debt, housing prices, problems of debt, housing prices, problems with pollution, all to do with breakneck growth, they've got to slow it down and the country is dry to do that, the government dry to tay bridge so the economy doesn't collapse, it can slow down to a manageable level and keep going at something more like, 4% or less. there are still concerns the amount of money being put into zombie companies, those which aren't creating much, what is planned as far as the government is concerned to try and crack down on these and limit them? one of the indications that worried people is capital flight that worried people is capital flight for example, seem as a big food of no confidence in the chinese economy. look how many companies and individuals are dry to get money out

of the country, the government is dry to calm down the horses. they are worried about overpriced housing, the value of the local currency, dead is a huge problem. i know i keep saying one thing and then another but the thing with debt here is that it's a bit different, it's old within the communist party if you like. some would say it's not as big a problem as others would think because it's kind of like the catholic church, one part of it going the other arm of the catholic church monies so if they really want to sort it out in the end, they can. but we have to see to what extent this country can maintain its growth and in the long run, shift from relying so much on exports and keep building up the middle class here and pushing for more of a domestic consumption driven model. the chinese economy going through this big period of adjustment, stephen, thank you. let's take a look at some of

the other stories making the news... brexit secretary david davis has called on both sides in the negotiations on the uk's departure from the european union to "get down to business". mr davis is in brussels for a second round of formal talks on brexit. he said his priority was to "lift the uncertainty" for eu citizens living in the uk and britons living in the eu. a major cyber attack could cost the global economy around $53 billion dollars — according to research by lloyd's of london. that's roughly the same cost as superstorm sandy, the hurricane that hit the east coast of the united states in 2012. sony is in the final stages of buying believed digital according to japanese media. sony will get a majority stake and the transaction

is expected to come to a close later this year. lots of stories catching our attention on the business website. this one in particular. the city envoy saying france wants a disruptive brexit, hoping to disrupt london's role. this is according to the city of london envoy to the eu. jeremy browne saying venture parodies seeking destruction, in favour of the hardest brexit to take opportunity to win business for paris. and much more on the business life page, we'll be bringing you some other highlights throughout the programme. south korea has announced the biggest rise in the minimum wage since 2001. leisha santorini is in singapore — why such a big raise now? in short it's because south korea's

new president is trying to get people to spend more in order to reduce the economy's reliance on exports and that's why they are raising the minimum rate wage next year by 16% to $6.60 per hour, the biggestjump year by 16% to $6.60 per hour, the biggest jump since 2001. year by 16% to $6.60 per hour, the biggestjump since 2001. the president wants to increase it further in the coming years to about $8 80 by 2020. the decision to increase wages wasn't easy, it took more than a month of negotiations between business and labour groups, businesses oppose a large increase to wages because they say it will hurt profitability and it will be to job losses. the trade unions say higher wages are needed to ensure families have a minimum level of dignity, both sides coming to a compromise and part of that entails giving small—business owners financial aid in order to help offset the wage increase and that's

going to be paid for by the government as well. thank you. let's checkin government as well. thank you. let's check in with the rest of the financial markets. the nikkei is closed for a public holiday today. it will be interesting to see how investors will react to the news that sony is in the final stages of talks to acquire french music distribution providing believe digital. 0ther indices have mainly risen in asia following another record close on wall street. however, shanghai stocks fell after the data came through showing china's economy grew more than expected in the second quarter. it's because, as we were discussing earlier, about those ongoing concerns about china's debt burden and the lack of reforms many believe are necessary. this is what it's looking like in europe. easyjet's share price has fallen after news its chief executive carolyn mccall is to head up the uk broadcaster itv and its shares have risen as a result. we'll talk more about that in a

moment. after that record close for both the dow and the s&p 500 on friday, michelle fleury has the details about what's ahead on wall street today. from banking to consumer goods to the tech sector, we learn a lot more about the help of corporate america this week as firms continue to report quarterly profits. this monday the world's largest money manager blackrock leases its second—quarter profits, at the end of the previous quarter it had by $.4 trillion worth of assets under management. netflix is piling up any nominations, investors in the streaming service hope its strong content will lead to more than just critical accolades when it reported quarterly profits this monday. it shows like 13 reasons why and stranger things, wall street expects netflix to report substantial growth in the number of viewers signing up for its servers. the company is projected to have added 600 and the 1000 subscribers in the us during

the quarter. thank you. joining us now is david buik from panmure gordon. good morning. ladies, what a joy. let's talk about what's happening on the markets. trading in the narrow band but lots going on. there is a lot of business going on, it's interesting, a feeling which michelle referred to, that the quarter earnings in the united states will be quite good. we had three large banks on friday all beating expectation, whose one junior members club that people didn't like, the fact trading reve nu es didn't like, the fact trading revenues in the large banks, down 19%, revenues in the large banks, down i9%,jp revenues in the large banks, down 19%, jp morgan down 6%, citigroup, but the real bread and butter and king was in grade order and the prospect of higher interest rates in the united states looks good but these shares have rallied between 23-35% these shares have rallied between

23—35% since the 8th of november last year. it is interesting given the fact tax cuts promised are still some way off, even so... infrastructure spending still miles off. the expectation is there because janet yellen and said she hopes to raise interest rates slowly and stop quantitative easing, not stop it but tay bridge as far as she can. do you think the brits we should keep an eye on going forward, as far as should keep an eye on going forward, as faras us should keep an eye on going forward, as far as us stocks are concerned? 0bviously netflix today, a lot of other companies like johnson and johnson, i want to see how they are getting on, what we want by the end of this week as a prop church of exactly how all the sectors have. we've heard about financial, some of the consumers will sayjohnson and johnson, we need to know about groups like smaller companies.” groups like smaller companieslj wa nt groups like smaller companies.” wa nt to groups like smaller companies.” want to ask you about smaller stock, the sale of food group to unilever.

what the company has had to do in the same way as unilever did was focus on key businesses. they are about to pay 18 billion dollars for about to pay 18 billion dollars for a main food operator, they have got to make room for that, cut back as much as they can, hopefully selling things like coremans mustered, unilever is the favourite but cannot be ruled out, wholemealfoods that make spam, i don't think and i didn't think people make that any more. keep an eye on the spam! thank you so much. you're going to stick around and take us through some of the other stories, david, around and take us through some of the otherstories, david, great around and take us through some of the other stories, david, great to have you here. still to come. the transformation from sugary sodas to sparkling water. we'll be talking to the head of soda stream. you're with business live from the bbc news. the final route for hs2 be announced

later. carillion is amongst the companies awarded the contract £7 billion, information on around 16,000 jobs. joe lynam has much more. it's britain's biggest investment ever in public transport. highspeed2 is designed to cut journey times and increase the number of passenger seats between london and the northwest via birmingham. it's been six years in the planning but now the first construction contracts have been signed, and they're worth £6.6 billion, which the government says will support 16,000 jobs during the construction phase. the first trains aren't expected to run, though, until 2026, by which time they hope to carry 300,000 passengers per day.

£50 billion on a track of this nature... but hs2 has faced stiff opposition. the stop hs2 campaign in the chiltern says it will only benefit the richest in society and the corporations who build it. and reports on the weekend said hs2 could end up as the most expensive rail line per mile in the world. even so, the muddy work of spades in the ground begins next year for what the government calls "the backbone of britain's rail network." joe lynam, bbc news. let's check in with the financial markets. we have an update on the bbc 0nline website, itv naming easyjet's carolyn mccall as the new chief executive. as we were saying earlier, on the back of this story we saw that itv shares have rallied whilst easyjet's have taken a slump. carolyn mccall appointed adds the

new chief executive of the broadcaster itv, having formerly been at the budget airline easyjet. there's been a lot of speculation on this move already affecting the share prices of both the companies. now we have that story confirmed. much more on the bbc website for you, including the biz live page. 0verseas landlords shun the uk as tax changes bite. much more on the bbc news website. china's economy grew at 6.9%, higher than many forecast. it's trying to rein in debt. let's check in with the financial markets.

the nikkei is closed for a public holiday today. a quick look at how the markets are faring. let's get the inside track. today we are going to get busy with a fizzy, a slogan that was made to sell sugary sodas, which is now being used to persuade consumers to switch to sparkling water instead. soda stream originated in 1903 with the first apparatus that could carbonate tap water. it reached maximum popularity in the 60s and 70s, aided by the tag line that we mentioned, as bottle shops became hangout central across the us. in 1991, the drinks—maker was purchased from cadbury—schweppes by israel soda club. in 2014, the company switched focus from the overcrowded flavoured drinks market to sparkling water with an environmental plastic—free emphasis,

a shift that saw a quadrupling of profits in 2016. we arejoined by daniel birnbaum, ceo of soda stream. thank you for coming in and bringing some freshly carbonated water for us. some freshly carbonated water for us. we have been mentioning how long soda stream has been around, 100 yea rs, soda stream has been around, 100 years, but there's been a see change. you were known for sparkly, fizzy sweet unhealthy drinks but now you are making the shift into healthy sparkling water. how are you managing to get that message across? that's right. soda stream is a brand in transition and we used to be a fizzy drinks maker. then in 2014 we announced a strategy to focus on sparkling water. today we are the largest sparkling water brand in the world, three times the size of san pellegrino. we are one of the fastest growing brands in the world so fastest growing brands in the world so something is work, here. it's

about the consumer, voting against sugar and disposable plastic bottles. this bottle can make 30,000 litres of sparkling water, 3,000! in a world where we are creating so much trash, it's a billion and a half disposable bottles every single day are manufacturered and used, which is incredible. this waste is going nowhere. all the plastic that's ever been created in the world still exists. in the garages up world still exists. in the garages up and down this country, there'll be lots of redundant soda streams. i have one in our house because i had one when i was growing up and there isa one when i was growing up and there is a sticky residue in the cupboards. what is the market now, not children any more? there are millions of soda streams in homes because everyone used to have one. it's easy and convenient, you save

money, you are healthy. orjust drink tap water? exactly. it's cheap and safe. while we have the companies out there, the bottled brands led by coca—cola and nestle that are seducing customers into believing tap water is unsafe and they should pay money for the bottled waters, at soda stream, we are saying drink tap water. if you wa nt are saying drink tap water. if you want the bubbles, we have a device to help you do that cheap and easy. there are a lot of markets that you are not going into because you are dubious about the quality of the tap water? well, no, we are already in 45 countries in the world, the fastest growing... you are not in china or brazil? we are in brazil. in china we are waiting because we have so much growth potential where we are. 60% of our revenue comes from europe, the largest market is germany. we expect the uk to vote against plastic waste and drink tap

water and if they want bubbles use soda stream and bring in their old machines, we'll give a heavy discount on a new device.” machines, we'll give a heavy discount on a new device. i want to ask you about controversy that's surrounded the firm and it's also the track fill which was located, there was a boycott at one point. what have you done to try to tackle that issue? that is true. we used to have a factory in the west bank in israel. we shifted that factory because we grew so israel. we shifted that factory because we grew so much, we needed to relocate. what we do is, we do the economy of peace. we reach out to people from both sides of the conflict, palestinians and israelis. we employ 2,000 people in israel and get people to know each other and live together and respect each other and celebrate coexistence. i invite you to come and visit the factory and you will see what peace looks like and we are proud of that. it's a big claim. it is. thank you very much for coming in. thanks for

having me. 0nline shaving subscriptions are out there now. products like shaving foa m there now. products like shaving foam and gel can be delivered to your home. the ceo secret team have been talking to the man who has been behind this. focus on your priorities. my my days can be really busy, filled with meetings, runs around from place—to—place, i wake up, i'm on my phone seeing what happened overnight. my daughter comes in and joins me, grabs my phone and starts

to try to eat it which is usually a good reminder, itry to try to eat it which is usually a good reminder, i try to schedule blocks of time, one or two hours of uninterrupted time, pretend like it's a meeting. it's hard to get ten things done when you are trying to juggle things done when you are trying to juggle all ten done at once. it's easier to get two or three things done if you can create time and space to focus on the two or three things. let's see what other stories are being talked about on social media. joining us again is david buik from panmure gordon. lloyds says cyber attack comed cost $120 billion, the same as hurricane katrina, but there is a caveat. it says it's very difficult to try and assess the costs really? it's impossible, but - about the . 55:25; sifil;y. . www of has a

in of has a in of it“ a in of 5:5 a a guys and dolls, if. don't saying guys and dolls, if you don't watch. saying guys and dolls, if you don't agégé out, thj is what you cannot do enough in terms of so you cannot do enough in terms of security. hurricane katrina in 2005 cost about $105 billion and there was a more recent one in 2012 which cost about $50—$60 billion. there are two areas where we need to be careful. 0ne are two areas where we need to be careful. one is the business of the cloud. that could cost $53. the figure varies between 15 and 120 billion dollars, the second most likely is computer operating systems where they think the loss could be as much as 28.7. we had the national health system hijacked last time and we got away with murder thanks to the young fellow coming out of the clouds from nowhere. it was extraordinary. lucky. it won't be as lucky as that next time. is it

governments that need to act or... and corporate people and the computer companies. it's a full—on job. i want to ask you about what we have all been talking about, the fa ct have all been talking about, the fact that here in the uk tonight we can watch the first series of graham of thrones, we asked our viewers if they were excited. nicholas says too much gratuitous sex and violence, not seen any of it. derek says i wish the books stayed ahead of the series. and trevor says the greatest tv series of all—time. it's a money—spinner if nothing else? tv series of all—time. it's a money-spinner if nothing else? there are 30 million people that disagree, of course, you know! 8.9 million watched the last episode and this is the seventh series. keeps running. never beat sopranos in a million yea rs. never beat sopranos in a million years. there you've got it. thanks for coming in. that's it from business live today. there'll be more business news throughout the day on the bbc live web page and on ward business news report. we'll see you again tomorrow.

some warm, even hot temperatures in the first part of the week. the risk ofa the first part of the week. the risk of a thunder storm midweek too. we start off the week with some good spells of sunshine and, with that sunshine, the temperatures are sunshine, the tempexatutes ate. lt ‘e'ill. ~f-—~ — —— sunshine, the tempexatutes ate. !t; gill. m— very ,. sunshine, the tempexatutes ate. g will - very warm. scotland, be if, e , be —:—£e1 wag; of ,, begin |e €ffflj§i way of .. begin with. that?" wag; of ,, begin wit; that quickly of = begin wit; that quickly things = to begin with. that quickly things and breaks and becomes more confined to the north and the northern isles where we could see a few outbreaks and drizzle. plenty of fine, bright weather. perhaps a bit more in the way of high level cloud, turning the sunshine hazy. highs of 25, 26 even in london. could see 22 in belfast. a bit more in the way of cloud in the north limiting our temperatures slightly here. as we go through the evening, we hold on to the cloud in

the far north. it will be dry with a few clear spells at times. plenty of clear spells in northern ireland and scotland. we start to see a bit more in the way of cloud. a muggy night in the way of cloud. a muggy night in the south. for tuesday, high pressure remains in charge. that sta rts pressure remains in charge. that starts to make its way across to the south—east. we drag in warmer air from the near continent, bricking with it the risk of thundery showers. moshe cloud across wales and the south—west. that things and brea ks and the south—west. that things and breaks for some good spells of sunshine. later in the day, lightning and rumbles of thunder creep into the west. highs of 27 in the west. 29 in the south. a bit cooler on the east coast. the thundery showers creep to the north on tuesday night. they become increasingly heavy. for england and

wales with the hot temperatures, we could see a few thunder storms. they'll make their way over to the east. where we stay drier for longer, seeing the highest temperatures. good news if you don't like it so hot, the second part of the week, things become changeable and also a touch fresher. hello, it's monday, it's 9 o'clock, i'm victoria derbyshire, welcome to the programme. our top story today — a woman whose mother and sister were murdered by her step—father tells this programme why she wanted to revisit the scene of their deaths and how what happened will stay with her forever. even my mum was cowering, she was on her knees, catherine. can you imagine having to beg for your life? it's just barbaric. we'll bring you that full report in about 14 minutes. also on the programme — claims that the government is dragging its feet over tougher sentences for people

who carry out acid attacks from a young age, we educate that knife crime is how bad it is and gun crime except but chemical attacks, substance attacks, are becoming more and