this is business live from bbc news with susannah streeter and ben bland. preparing for a post—brexit britain! a new report warns against the dangers of "no deal". live from london, that's our top story on thursday 20th july. the uk and the eu's top brexit negotiators are due to reveal the latest developments in the brexit talks, we'll be live on the ground in brussels. also in the programme, turbulent times ahead for easyjet — the budget airline forecasts a lift in profits, but is it prepared for the departure of its influential ceo carolyn mccall? the markets continue that global swing upwards. the markets continue that global swing upwards. and with the long summer break just around the corner, we'll be looking at holiday camps with a difference — we'll speak to a woman who's

replacing football and baking with coding and robotics. all throughout the day we're looking at the issue of childcare costs — we'd love to hear from you about your family's plans for the summer. are you taking time off or are you reliant on childcare? or 0rdo you give or do you give them a smart tablet and lope for the best like susanna! let us know. just use the hashtag bbcbizlive. iama bit i am a bit more adventurous. hello and welcome to business live. welcome to the programe. we start in brussels — where the uk's brexit secretary — david davis — and the eu's chief negotiator — michel barnier — will wrap up their second round of talks on britain's exit later today. they are expected to give a progress report at a press conference later. so what are we looking for? they've been focusing on three areas

— citizen's rights on both sides, the so—called ‘divorce‘ bill britain will have to pay, and the border between northern ireland and the irish republic. the eu says negotiations on the future trading relationship won't come until later. there's huge pressure to reach an agreement. according to an independent report released this morning — the impact on the uk of no deal would be ‘widespread, damaging and pervasive‘. it warns of potential chaos over customs checks, british airlines being unable to fly, and uk nuclear power plants — which are regulated by euratom — unable to operate. it also warns there would be a further fall in the value of sterling — pushing up inflation — and hitting wages and consumer demand. but is uk business prepared for that scenario? possibly not. britain's corporate lobby group — the institute of directors — says while many firms in the uk are looking at contingency plans — very few — only 11% — have started to put those plans into action. bruegel is an economic think tank which works closely

with eu institutions. we're joined by its deputy director— maria demertzis. maria, good to see you, welcome to business live we get the progress update today, where do you think we will see the most success, having been achieved? i think we will expect to hear something on citizens‘ rights and possibly on northern ireland, but i think we will see the least progress on the divorce bill. and it seems that the key to this, is compromise, on both sides, because it‘s mutually important that deals are done, looking at the characters involved, how likely do you think that is? looking at the characters involved, how likely do you think that i57m would have to be right. at some point a deal would have to be made so we can move on to point a deal would have to be made so we can move on to the next part of the negotiation, so some xro mize needs to be made by october in my view. and on this issue of citizens‘

rights, one of the big stumbling blocks seems the role the european court ofjustice has over settling questions over that. that seems to be potentially one of the hurdles that will be trickiest to overcome indeed. it has been one of the red line of the uk position. other parts have been red lined but i think that is an important one for the uk, and it defend on them how much they are prepared to actually let this go.“ there a feeling there is a lack of direction from the uk government at this stage? we are split, we are hearing within the cabinet, as to the direction of policy regarding brexit. that is the impression that we get, they get here, the uk hasn‘t been revealing in terms of what it wa nts to been revealing in terms of what it wants to akiev and how quickly i would agree a bit more forth coming from the british position would be very welcome here. when you say more forthcoming, what do you think those

negotiators want to see, do they wa nt negotiators want to see, do they want a concrete road map going forward ? want a concrete road map going forward? well, if you ask me what i would like to see, i would like to see the divorce bill being settled as quickly as possible. this is not the most important part of the brexit negotiations therefore we should not be spending time or capital on it. we need to move as quickly as possible in ensuring the future relationship is a good one, for both parts of the negotiation and we need to negotiate a good trade dealfor the and we need to negotiate a good trade deal for the future. the divorce bill is neither a big issue, nor is it economically significant. maria, if you were in the room there, advising both sides on the best way to reach agreement, what would you be saying to them? find something sensible to settle the bill, and that is an important one, the gap that the uk is going to leave by not paying into the budget, this framework we have, will need to be covered by other countries, they are not waiting to fill the bill.

the eu is is not trying to be difficult, it is trying to cover a bill and pay commitments it has made. so it is important that we find a good position from the uk on this part, but we have to do it quickly and move on, this isn‘t something we should be spending lots of time on. thank you maria. thank you maria. let‘s take a look at some of the other stories making the news. low—cost airline easyjet has reported that its third—quarter total revenue increased by i6% to around $1.8 billion. passenger numbers rose 10.8% to 22.3 million over the period. looking ahead, the airline now expects profit in the range of of $495 million to $547 million for the current financial year. easyjet is set to replace its chief executive carolyn mccall, who is leaving next year tojoin broadcaster itv. volvo cars has seen a 21% rise in operating profit to $820 million in the first half of the year, thanks to rising sales in china and europe. the swedish firm is heading for its fourth year of record sales. it sold over 277,000

cars in the first half, up 8.2% from a year ago. more than a third of all card payments in the uk a re now co nta ctless, according to new figures. the trade association, uk finance, said 33% of all spending on plastic was settled with a tap instead of a swipe in may. this is a rise from just 18% in the same month last year. it doesn‘t feel like you are spending money when you tap. in the last few hours china has said it has made "significant progress" on a 100—day action plan for trade with the us — and discussed a one—year plan on economic cooperation. how well did these talks go, given the fact that a number of news

conferences the fact that a number of news c0 nfe re nces we re the fact that a number of news conferences were actually cancelled yesterday? well, i feel that a nalysts yesterday? well, i feel that analysts have a different sentiment to what china put out, because as you mentioned we didn‘t anyjoint statement or news announcements, or a press c0 nfe re nce statement or news announcements, or a press conference from this annual meeting in washington dc, leading some to speculate something broke down at these talks, and that we can expect strained ties between the us and china in the coming days or mondays, as we have been reporting, the us wants to reduce its trade deficit with china, it stands at more than $300 billion each year at moment, and so when us president trump met with his counterpart xi jinping in florida, they agreed to this 100 day economic plan. that led toa this 100 day economic plan. that led to a couple of deals with us beef, natural gas sales and some financial service, so this economic dialogue in washington, is seen as the follow

up in washington, is seen as the follow up to that 100 days deal, but as we have been reporting, nothing has come out of them, nothing specific and no new initiatives and so we still have many issues between the us and china that needs to be resolved, including the issue of excess resolved, including the issue of excess chinese capacity and taxes on ca i’s excess chinese capacity and taxes on cars being imported into china, and so, trade tensions are expected to follow in the coming months according to analysts. thank you. asian shares are at near—decade highs, boosted by a rise in indices around the world particularly off the back of some strong us corporate earnings. the yen eased slightly after the bank ofjapan reinforced expectations it will lag other central banks in reducing the stimulus pumped into the economy. in europe stocks opened slightly higher — dax in frankfurt higher — dax in frankfurt and the cac a0 in paris also higher.

investors looking to take direction from the outcome of a european central bank meeting which could indicate whether the ecb will start tapering its own stimulus programme sooner rather than later. after another soaring close on wall street yesterday — what will today have in store? here‘s michelle fleury. investors‘ focus on earnings is set to continue this thursday with attention turning to one of the biggest names in technology. microsoft reports its fourth—quarter results after the us market close, and its cloud business is expected to remain a key driver of growth. wall street will also hear more about the reorganisation of its sales staff. the tech giant confirmed earlier this month there would be lay—offs, but it didn‘t disclose an exact number. there are also plenty more firms reporting earnings and among them is visa, which reports third—quarter profits. the company makes money by facilitating credit and debit card transactions. india‘s efforts to go cashless should provide a boost to its bottom line. and with more coal being transported around the country, the largest us railroad union pacific is expected to report a rise in profit and revenue. sue noffke, uk equities fund manager

at schroders joins us in the studio. good to see you. so, easyjet, god results ? good to see you. so, easyjet, god results? good results after what was a difficult year last year, with air traffic control strikes, there is fears over brexit, this year you have had easter move into the third quarter period. better punctuality, and a few other things coming to fruition, so people are still wanting to spend on holidays and travel and prioritising that, and you have seen despite capacity being added across the industry, easyjet has been able to sell more seats to more people. do you think easyjet will be able to swerve any turbulence, given its chief executive is leaving for itv? its

share price has dipped slight loin that news? it has been strong so far in 2017, the shares have been one of the best performers in the ftse100. it faces a number of head winds, so whether that is the appetite for consumers to still take holiday, access to european market, post—brexit, controlling costs, you know, making sure that you are getting enough revenues to cover your non—fuel costs. getting enough revenues to cover your non-fuel costs. all eyes later will be on the european central bank. we don‘t expect dramatic moves from them. it is all in what mario draghi wants to try to communicate. no—one expects interest rates to move but the european economic data has been firmer, in recent months and so that raises questions about the tapering of quantitative easing that was put in place when economics we re that was put in place when economics were really softer, so it is a question of when, and how much that

tapering is going to involve.|j question of when, and how much that tapering is going to involve. i will watch. will he put a drag on it? still to come. we will be looking at holiday camps with a difference, we will speak to a woman who is replaces football and baking with coding and robotics. you are with business live from the bbcful —— woe bbc. underlying profits at sports direct fell nearly 60% this year as the firm publish full year results. boss mike ashley says he wants to turn the firm into the selfridges of sports — but how good a shape is it really in. theo leggett has been looking through the figures for us. theo is in the business news room. why is sports direct struggling because of the falling pound, that is the key reason, sports direct

gets a lot of stock from asia. the pound has fallen and has cost them money. sports direct tried to mitigate that by taking out currency hedges, but that went wrong when a fall triggered off a payment under one of its contract which cost it 15 million. revenues have been pretty strong, and that might help to explain why its share price is up sharply this morning, that is down to changes that have been announced at board level, including the replacement, the belated replacement of the finance director who resigned in the wake of that currency problem last year. but, context is everything, isn‘t it. so if i step over here and change the view you are looking at for a moment. you can see that even with that spike today, sports direct share prize is less than half the level it was about 18 months to two years ago. the past 18 months have been pretty

extraordinary for sports direct haven‘t they? extraordinary for sports direct haven't they? yes, it has had a terrible pr record, problems at its warehouse in shire brooke, employees allegedly frightened to take breaks because of possibly getting penalties. and mike ashley‘s management style has come under scrutiny. there has been a court case in london where there were accou nts case in london where there were a ccou nts of case in london where there were accounts of important meetings being held in pubs and amending with drinking competitions. so investors are keeping an eye on this company and in particular, its corporate governance. just before you go, how do you cope with childcare in the holidays? my other half is long—suffering and she takes care of most of that but i do do childcare a couple of days a week. it is a real struggle for everybody. you‘re watching business live.

now let‘s get the inside track on a summer camp with a difference: fire tech camp has replaced traditional summer camp activities with coding and robotics. the camps were launched in 2013 and offer classes and activities for nine to 17—year—olds. more than 100 instructors have been hired this summer and they will offer courses in coding, app design, robotics, digital music production and much, much more. jill hodges, founder and ceo of firetech camp. thanks for coming in. i am sure it is getting busy as you approach the summer? it is very busy. summer camps have existed, where did you get the idea of doing something around robotics and tech.|j

get the idea of doing something around robotics and tech. i am american and this has been around in the states for 20 years. so tech camps and summer the states for 20 years. so tech camps and summer camps where you go and learn something, get those skills that have enrichment value have been around for a long time. when i was looking for camps for my own kids here, i couldn‘t find any s0 own kids here, i couldn‘t find any soi own kids here, i couldn‘t find any so i started it myself. lotsa people find it a struggle to drag a ten—year—old from a digital device. it isa ten—year—old from a digital device. it is a hard sell them to put them into a week—long camp where they are looking at it all week long? we are harnessing the excitement and interest they have on technology and turning it into creative. they are creating their own games. there are some parents who haven‘t sorted childcare out yet, quite like the sound of this, how much does it cost? we have causes that run for a full week, 9am to 5pm and they start between 200 and £500. there is a

high cost of childcare, so it is a big uplift? it is notjust childcare and ba by—sitting, big uplift? it is notjust childcare and baby—sitting, we cover more in a week than they would get a year in school. we accept childcare vouchers and we have a scholarship programme. so you do provide some sort of access to low—income families? absolutely, we have sponsorship from corporate and we sell fund a lot of scholarships. what gave you that start, you felt there was a niche in the market, but why did you think, i can do this? i love technology, my sister has a ph.d. in computer science and my dad is an engineer. i was always comfortable around technology. as technology is more consumerfriendly, people technology. as technology is more consumer friendly, people understand less about what is going on inside and the kids will need that skill.

what sort of things do they do and the camps? this week we have a camp thatis the camps? this week we have a camp that is for prototyping where kids are making their own fidgets spinners. we have video game design, robotics where they are programming robots so it is the beginnings of artificial intelligence they are learning about. we have programming camps, 20 different causes. learning about. we have programming camps, 20 different causesm learning about. we have programming camps, 20 different causes. it is difficult for low income families to access such skills, tell me more about the scholarship programme? we have an application on our website and there is a scholarship area, com plete and there is a scholarship area, complete video that tells us why you wa nt to complete video that tells us why you want to do it and what you think you can do with the skills you are going to get. how important is it you feel these skills are harnessed for future generations. you are aiming this at children so you hope they will become the next coders and

robotics builders of the future? the skills around it is critical. it is all about product design as well and getting them to be creative. you said earlier, a lovely example with one kid came on the camp with her own idea? one girl had an interest in geology and she had a fossil she had found at the beach and she was able to recreate the whole fossil and 3—d print it. able to recreate the whole fossil and 3-d print it. so that was really cool and 3-d print it. so that was really cool. thank you very much for coming let‘s stick with the theme of childcare, a new report has found that it now costs uk families an average of £125 or $163 per week to look after their kids during the summer. this means the cost of holiday childcare has increased 4% since 2016 — and with rising inflation eating into living standards, we‘ve been asking parents how they plan to manage over the summer break — let‘s take a look. i can‘t work because i can‘t afford

childcare costs for three children. one of my children has got special needs so i need someone who is able to look after that side of things. ijust can‘t physically afford it. this is my salary so i have to give all my salary to the club. there is no point to work then, if i can look after her as well, instead of clubs. it would be good to keep the child centres open, children's centres open for them to provide things and maybe have the youth club running through the summer which has already ended last week. we had the last one last week, but it would be good to be in the summer holidays. i think it would be good to have more provision at school, after—school clubs and certainly school holiday ones as well. i know when our child starts school there won‘t be that much clubs there won‘t be that many clubs running after—school, i don‘t think, so that would be really handy. and also subsidise things i think also. clubs, some clubs, stuff like that.

you know, they want us to work, but don't really give us the help that is needed to work. sue noffke, uk equities fund manager at schroders isjoining us again to discuss. it is piecing it together, clubs and have some time off and i am fortu nate to have some time off and i am fortunate to have a nanny. heather has treated to say she was fortunate to be able to afford her full—time nanny but offered to help a friend by taking her child part so those nanny shares are popular. someone else has said, when you are both self—employed, if we don‘t work, we don‘t earn any money. liz has said help from family and friends. sophia says with great difficulty. she said having a child with special needs makes it more difficult. they start at ten and end at three p:m., many clubs have shortened

hours. richard says, do something radical, if you have decided to bring up kids, stay at home and bring them up. i couldn‘t have done this job! they could have sat quietly in the corner. thanks for all the business stories that i‘ve hit the papers today. and facebook, it is trying to think of a plan to redirect traffic through two new sites, because there is this concerned that many news sites, many publications are losing out because people don‘t pay for their content? especially the young. older people still read newspapers, whether it is digitally or in paper form. facebook has been suffering from criticism that much of its news is fake news and this is providing content from the publishers through to users through the facebook

portal. publishers are quite interested because this is a way they could get subscription revenues from people reading their content. one of the other big stories that is being covered in the papers is the revelations about pay levels for the bbc‘s top tv and radio stars. it throws up a lot of issues that could apply to any business, the gender gap in pay and you know, quite pronounced when you have people doing the same job, pronounced when you have people doing the samejob, side—by—side, paid very different amounts? there will be individual circumstances where people do extra activities for the corporation, so it might not be entirely like—for—like, but this level of transparency does come to bear and asks a lot of questions. notjust bear and asks a lot of questions. not just the bear and asks a lot of questions. notjust the pay gap, but gender diversity in total, where are the people who show that diversity.

there will be career breaks, women bring up children but they are doing the samejob, bring up children but they are doing the same job, exactly the same on—screen time and it would seem very unfair? that's right. your company looks at differences in pay? yes, we look at people doing the same sort ofjobs and the pay gap is much lower, but we have some people who work part—time and some roles are eligible for benefits and some are eligible for benefits and some are not, so there are differences. you will be pleased to know that we‘re not on the higher rate of pay! no awkwardness here. that‘s it from business live today. there will be more business news throughout the day on the bbc live web page and on world business report. it is looking quieter for many

others. we have showers and outbreaks of rain but gradually things will be getting better and brighterfor things will be getting better and brighter for many. it things will be getting better and brighterfor many. it might things will be getting better and brighter for many. it might take a while for those showers to clear across eastern part of england, the north east of scotland and perhaps the odd rumble of thunder here as well. but for many, think should improve and get brighter. with sunny spells in the south—east, not feeling too bad but fresh compared to the last few days. temperatures of 21, 20 2 degrees in london. a few showers in south—west england and wales, but for the majority you will be dry across wales, the midlands and northern areas by this stage in the afternoon. some showers in northern ireland. it will be wet by 4pm this afternoon in the far north—east of scotland but for western scotland there will be sunshine. for this evening and

overnight, staying dry for many but out towards the west we have showers moving their way in. that is tied into this area of low pressure, pushing into the uk. these white lines, the isobars are getting closer. as they get closer, it indicates stronger winds. particularly windy on friday in south—west england, across wales, northern ireland as well. coastal gales with this and rain spreading eastward. for central, eastern and northern part of england and scotla nd northern part of england and scotland it will remain dry on friday, a few bright spells. temperatures 21 to 23 degrees. 18 degrees in the west where the cloud and the win, not feeling too great. the low pressure system is with us at the weekend. it will be unsubtle, there will be showers around on saturday. some of those on the heavy side. gusty winds in the south lost as well, more persistent rain across scotland. maximum temperature is 17 to 21 and on sunday, there will be

some showers but fewer and further between across england and wales. still wet in scotland and more rangers brushing southern coasts of england on sunday. temperatures where they should be at the time of year. mixture of showers, some sunny spells between the showers and it will feel cool and fresh, especially where you have the stronger winds and more persistent rain. hello, it‘s thursday, it‘s 9 o‘clock, i‘m victoria derbyshire, welcome to the programme. calls to resign for the newly elected leader of kensington and chelsea council at her first cabinet meeting. survivors of the grenfell tower tragedy heckled and booed elizabeth campbell as she was trying to address the chamber. after the news and sport we‘ll talk live to the deputy leader

of kensington and chelsea borough council. too many mental health patients are being locked up in hospitals where they are trying to get better in a system that has "outdated care" — this is just one of the finding of a report that also says that some of the care providers leave people feeling "helpless and powerless".