this is business live from bbc news with ben thompson and jamie robertson. monarch airlines goes bust. more than 100,000 customers are currently overseas as the uk government orders rescue flights to bring them home. live from london, that's our top story on monday, 2nd october. as the airline collapses into administration, people due to fly with monarch are being told not to go to the airport. all future services are cancelled. we'll hear from the administrator and look at what happens next for passengers and staff. also in the programme, catalan leaders say 90% of voters backed separation from spain. but the government in madrid says the referendum was illegal. we'll assess what's next for the spanish region that wants independence. and the unrest in spain yesterday and heavy—handed tactics

from authorities likely to shake investor confidence in spain. the spanish market 0.75%. getting brazil back on track. once the emerging economy to watch — brazil has been mired in recession and scandal. so what can it do to win back investors? we'll ask the head of the country's investment agency. and following the cancellations chaos at ryanair and now the collapse of monarch, today we want to know whether you'll book your next flight with a budget carrier? 0r or have they lost your faith? let us know. just use the hashtag bbcbizlive. hello and welcome to business live. before we look at our top business story, let's bring you the latest on what we know about the on—going shooting incident on the las vegas strip.

there are reports of many casualties. some witnesses say gunfire came from an upper storey of the mandalay bay casino overlooking a site where a country music festival was taking place. clearly, that's it the scene in las vegas. pictures of people attending the festival show them crouching down for cover and the sound of several bursts of prolonged gunfire can be heard. reports so far say two people have died and 2a have been injured in what's being described as an active situation. las vegas metropolitan police department public information sergeantjeff clark has just given this update on what they know. 0fficers officers as well as our partners with multiple agencies have responded to reports of an active

shooters situation at the mandalay bay. we have a suspect down. 0ur officers can confirm that for you, but i understand the people of las vegas want to help. i see a lot of people that are coming down and want to help. please, stay clear of the area, we have all the resources from the police department as well as our partner agencies coming down to this situation. please stay away from the area. we have had reports of people coming down trying to help. we have got that. we're good right now. we have numerous victims right now. i don't have a number for you have numerous victims right now. i don't have a numberfor you on have numerous victims right now. i don't have a number for you on that, but please keep their families and them in your thoughts as we work our way through this problem. that is being described as an active situation. you can see the details earlier on the screen. two people have died so far in this shooting that's taken place in las vegas and

24 that's taken place in las vegas and 2a people injured. this is related to the scene of a country music festival as i touched on the sound of bursts of gunfire were heard. police, a heavy police presence at the scene now, butjust to confirm the scene now, butjust to confirm the latest. two people have been killed. 2a injured. inn a shooting in las vegas. we will keep you up—to—date with that across the bbc over the coming hours. but stay tuned to the bbc for that. monarch airlines has collapsed into administration. its 300,000 bookings for future flights and holidays have been cancelled. monarch is the uk's fifth biggest airline and the country's largest ever to go into administration. 110,000 customers are currently overseas and the uk government has asked the caa to charter more than 30 aircraft

to bring them back to the uk. why? the terror attacks in turkey and egypt have deprived the airline of a large chunk of its annual revenues, and forced it to compete on heavily congested traditional routes to spain and greece. the short—haul market has been described as "horrendous" by senior aviation industry figures. it has already resulted in the collapse of air berlin and placed huge pressure on other airlines. we can hear from the administrator about what his role is to wind down the airline and what's at stake. losses were due to depressed prices. prices have been depressed for sometime to give an example that, the company flew 14% more passengers

last year, but for £100 million less revenue. 0n the cost base it increased as a result of the adverse movement of the pound against the dollar where many of the costs of the company like fuel and handling charges are denominated in dollars. so asa charges are denominated in dollars. so as a result the revenue is down, costs are up, significant losses u nfortu nately costs are up, significant losses unfortunately occurred and were forecast to continue. that's really why we are here today. that was one of the admin strategic rail authoritiors. simon calderjoins us from the bbc‘s travel show. people in europe and turkey are wondering where their monarch flight has gone to. i can understand it if you have woken up to the news that monarch airlines has gone out, just relax. spend the day by the pool if you are not flying back today. you will be flying back to the uk more

01’ will be flying back to the uk more or less at the same time as you were supposed to. possibly to a different airport. you might fly to london luton and have to get a bus to london gatwick, but you will be looked after. i have come back from the civil aviation authority in london where they have set—up a shadow airline using 16 carriers from across europe and the gulf. 0ver from across europe and the gulf. over 30 aircraft and 700 flights arranged in the next two weeks. simon, those are the people who are away. what about the people who are waiting potentially to go away? we have seen that stark warning, do not go to the airport. for many of them, of course, it was too late. i was astonished by the timing. i went to bed at midnight last night thinking great, monarch lives to fight another day. at 4am i discovered that it had gone bust. some people have managed to buy extra flights at inflated levels because the other airlines are putting up their prices almost by the minute as demand soars

for their services. if you have not yet travelled and you booked a package holiday, thanks to european legislation, you will get all your money back. if you booked flight only, it's a matter of going to your ca rd only, it's a matter of going to your card issuer. credit card companies have to hand back the money as suming you spent more than £100. debit card companies generally will, but if you have been to the administrators and said can i have my money back and they said no. lot of people choose to use the debit card so you don't pay the fees? monarch abandoned credit card surcharges. so a lot more people would have used a credit card. it is going to be messy. and crucially, although most people will get most 01’ although most people will get most or all their money back, of course, they will lose their holidays and we are ata

they will lose their holidays and we are at a busy time still in europe. there is hundreds of thousands of passengers waiting to travel and their plans are frankly in tatters. we have not touched on the staff themselves. simon, thank you very much. we have got a sick pure on our website of simon calder. dominating outlets, but if we go down further, we have other stories about monarch. the business live page is dominated by this story. also interestingly here, from a business point of view, the collapse of monarch will raise questions about greybull capital. they bought monarch out and the way they have run it will come under question. the two reasons they are saying are behind the collapse of

monarch are the devaluation of the pound which made travelling abroad less attractive for most people, for most tourists and also for terrorism. many of the north african and met trainian destinations have been made unattractive by the threat of terrorism. we have heard from people who suffered cancellation on ayr. we asked you at the start of the programme if you would still book a budget carrier. jay says, "you buy cheap, you get cheap." monarch airlines aren't the only budget airlines, there are plenty. there is a mixed picture about people who swear by it, the budget carriers and others who are considering giving them a wide berth. an interesting development in the tensions with north korea and international trade embargoes on it.

russian telecommunications firm transtelecom appears to have begun providing a new internet connection to north korea, boosting an already existing link from china. leisha sa ntorelli has more from singapore. we said it is an interesting development. it certainly changes things somewhat, doesn't it? north korea has restricted access to the internet for years, but they have actually had china provide the link. this news comes from a research group called 38 north. they are part of thejohn group called 38 north. they are part of the john hopkins group called 38 north. they are part of thejohn hopkins university. they say a russian firm appears to be providing north korea with another internet connection. the report says the new connection comes from tra nstelecom the new connection comes from transtelecom which the new connection comes from tra nstelecom which is the new connection comes from transtelecom which is headquartered in moscow and it is owned by a russian state owned railway km. it

comes following reports that the us is targeting north korean infrastructure. it looks like the battle of words maybe taken into the cyberspace arena. i spoke to a cyber security firm who said this will give russia some visibility into what the north korean hackers are up to as well. so it is not all bad. it is flat injapan. to as well. so it is not all bad. it is flat in japan. japanese business confidence was at its highest level in a decade. nissan shares were down sharply on news that thousands of vehicles at its factories had been inspected by uncertified staff. but it is europe that i want to show you today because all that unrest in catalonia with violence is likely to make investors nervous. spain's market is likely to see volatility. it opened

down 1% and it is recooping the losses. 90% of the nearly 2.3 million people who voted on sunday chose yes to independence. there was a turn—out of 43%. airline stocks will be in for a tough time on the news that monarch has collapsed into administration. we have to get the passengers back, 110,000 passengers back to the uk, but it affects 300,000 future bookings. remember, that's bookings and it is likely to affect many more people. a booking could be for a family of four or five. big problems for the airlines. we will look at those stories in a moment. michelle has got the details about the day ahead on wall street. more clues about the impact of the hurricanes. economists estimate the storms could sighs off six tenths of

a percentage point from third quarter gdp growth. a must watch factor for investors this week is friday's monthly us jobs factor for investors this week is friday's monthly usjobs report, but there is still plenty to keep them occupied before then. wall street will get a snapshot of america's manufacturing sector this monday. the institute for supply and management publishes its monthly manufacturing report for september. how much of it was impacted by the recent hurricanes? well, economists are forecasting a sharp drop to 52.4%, to 58.8%. the effect on car sales should become apparent with us ought owe sales figures due out on tuesday. reports from major car makers are likely to show that the annual pace of sales rose last month, perhaps boosted by scunlers replacing storm damaged vehicles. —— consumers replacing storm damaged vehicles. —— consumers replacing storm damaged vehicles. joining us is jeremy

joining us isjeremy stretch. i know it isa joining us isjeremy stretch. i know it is a political problem and there is an impasse between regional and central government, but will it affect the market? it is a notable factor. 0ne one factor was political risk. we saw that into the elections we had in the netherlands and then france. now another renewal, a degree of political instability in the european region was this contrasts with the fundamental story, the economic data which is improving very significantly with a broad—based recovery. that is showing what european central bank can do in terms of policy it is adding political risk back into the environment. we are seeing the impact on the euro and in terms of bond yields in spain. higher premium is being placed on spanish government bonds because of the uncertainty. uncertainty also about those incredible scenes we saw

yesterday and a lot of criticism of quite how heavy—handed the authorities seem to be, going into polling stations and ripping ballot boxes out of hands of those voting was this cannot take place in a democratic country. then saying it was a triumph for democracy. democratic thought in spain is of a relatively short variety than we have been accustomed in other markets. that is something to put into context. the spanish police do have a tendency to have a rather aggressive perspective in terms of action. clearly they have taken these very extreme actions which do not play well positively in terms of the media, which will be problematic. in the study adds to the difficulty in terms of the process going forward. it is a situation where the region of catalonia is pulling itself apart from spain. can you put it into a global context? we are getting strong economic figures out of

europe, out of china, out of the united states. the global economy is looking pretty strong. we can characterise it as an globally synchronised recovery. we have seen chinese economic growth picking up. it isa chinese economic growth picking up. it is a broad—based recovery. from a macro economic perspective the world is in macro economic perspective the world isina macro economic perspective the world is in a relatively benign place. we are recovering from the ravages of the crisis of ten years ago. there is this political undertones which continues to be devil markets, whether north korea or more domestically in terms of europe or in the uk with the brexit process. still to come: following the ongoing political turmoil in brazil, we'll see what can be done to get the country's economy back on track. you're with business live from bbc news. six months after the government ordered large companies

to reveal their gender pay gaps, more than 99% are yet to publish their figures. only 83 of the 90,000 companies required to publish their pay data under the new rules have done so, halfway through the 12 month disclosure window. joining us now with more on this is ann francke, chief executive of chartered management institute what has gone wrong? what you seeing as companies hesitating to report the figures. in part because they are gathering them and in part because they probably do not like what they are seeing. what we are seeing in most companies is a glass pyramid where you have lots of women injunior roles pyramid where you have lots of women in junior roles and far fewer women at the top. of course they are paid far less than men. the rules say that by the end of this 12 month period they all should comply. given the current track record, it not

look like they will meet that deadline, does it? a lot of companies do intend to meet the deadline. i have been in touch with a lot of companies gathering the information. they're working on what they can do to fix the situation which will be laid very bare by the new reporting guidelines. even though we don't have the numbers, we don't have the absolute figures, what do you think the situation is? the situation is, on average, women in managerial positions will be paid about 26% less than their male counterparts. how much did you say, 26%? that will be driven by the inclusion of bonuses and perks. many male bonuses at ceo level will be six times that of their female counterparts. the packs for men will be greater. the good news is, once companies expose their own situation where they can address it and

address —— addressing it, as we know, is good for company figures. diversity delivers results for business and this programme, publishing those figures, will force companies to confront their own situation and do something about it. thank you very much indeed. the business live page has everything you need to know about monarch. you're watching business live. we wa nt we want to bring you the latest on the situation that is unfolding this morning in las vegas. there has been a shooting near a casino with reports of many casualties. a country concert was under way on the

sunset strip and shooting broke out at mandalay bay casino hotel. two people are dead and 2a people hospitalised. pictures from the scene coming into us from the scene show people running for cover, crouching down to avoid the gunfire. witnesses telling us they heard numerous gunshots at the casino hotel where police tactical teams are now searching for what they see as one or more attackers. prolonged bursts of gunfire came from another shore at that —— floor at the hotel. here is what an eyewitness told us. we had machine guns. 0ne here is what an eyewitness told us. we had machine guns. one of the security guards asked us to stop. they kept shooting and shooting and shooting. we thought it was on the other side with play guns at it was real ones. there were 30 rounds or more. could you see the gunshots

coming? no, it was from mandalay bay, from the front toward the back and heading this way. eyewitnesses in las vegas to the shooting that has been going on and continues to go on. it shooting not necessarily but it is still, as the police are calling it, a live incident. an ongoing situation. we'll keep you up to date with that. much more for you across the bbc. brazil. once an emerging world economy. the b of brics. the largest economy in latin america, and the seventh—largest in the world. but things haven't quite gone according to plan and the economy has been mired in recession. so since taking office in may last year, president michel temer has tried to lift some of brazil's rules and regulations to boost investment. and that investment is much needed. to get back to the levels seen before the financial crisis, investment needs to hit $56 billion per year. with us is roberto yaguar—ibay,

president of apex brasil, the investment agency for brazil. so, what are you trying to get in terms of investment? how much do you reckon you can get into brazil from foreign investors? brazil has or is been a favourite destination and it still is, despite of the upheaval and volatility. last year we had close to $70 billion. this year we're hoping to get close to 75 or $80 billion. what is the attraction? sell it to me. sell me your country. brazil is a big country. big countries tend to be more attractive because of the internal market. 210 million people are approximately full summit isa million people are approximately full summit is a large economy, almost the largest in the world. it

has numerous opportunities, especially in areas where we are lacking investments. that means essentially infrastructure. as an example, brazil is a very competitive agricultural producer. to ta ke competitive agricultural producer. to take produce from the hinterland of the country to the ports on the coast is more expensive than taking it to the most remote areas of the world, such as china. why would an investor wa nt to world, such as china. why would an investor want to spend money? if you look at what has happened over the last few years, corruption scandal, recession. it is a very difficult place to do business. it is not exactly a red carpet for investors, is it? as i said, brazil has always been a very high destination. this year probably the fifth highest destination. the opportunities, because the difficulties are clear to see. the government is building

up to see. the government is building up legislation over the past year, more than the previous which is facilitating investors. corruption is an issue. some countries are very corrupt but do not face up to the fa cts . corrupt but do not face up to the facts. brazil is facing up to the fa cts facts. brazil is facing up to the facts and having very many relevant politicians put into jail. thank you very much forjoining us. now for a quick update on las vegas. we know that in the last few hours there has been a shooting in las vegas. two people are dead and 2a people injured. but we will keep you up to date in the coming hours on the bbc. this is the scene live in las vegas as the police investigation gets under way. stay tuned with the bbc for continued coverage. see you soon. goodbye. good morning. we are starting off

monday morning on a rather windy note across northern parts of the uk. through this week it is going to be rather changeable. there will be rain at times and a few bright spells. feeling a touch cooler, more like autumn. the reason for the windy weather is the big area of low pressure situated towards the north. look at the white lines, the isobars. quite close together across northern parts. the wind is gusting at 50, 60 miles an hour in places. particularly in central scotland and the north—east of england gradually the north—east of england gradually the winds will ease out and by afternoon a bit quieter. showers moving into scotland, northern ireland and north—west england. writers spells in the central and southern areas. in the afternoon the showers continuing in the west of scotla nd showers continuing in the west of scotland which shelter towards the east of the mountains. a bit of sunshine. the same goes for

north—eastern parts of england with sunny spells. 0ne north—eastern parts of england with sunny spells. one or two showers continuing in northern ireland and the north—west of england. for wales and the southern parts of england there will be bright spells around. the cloud will thicken up. rain moving into cornwall and devon. the cloud is thickening across the far south. by evening the cloud will continue to bring outbreaks of rain, brushing southern coastal counties into the early hours of tuesday morning. for many of us during tuesday morning, we will see a chilly start that temperatures in the towns and cities about eight, ten, 11 degrees. in the countryside it will be chillier than that. we'll start off tuesday with some sunshine. not a start off tuesday with some sunshine. nota bad start off tuesday with some sunshine. not a bad day for many of us on tuesday. sunny spells in the morning and more cloud in the afternoon. temperatures down by a couple of degrees. fairly cooler with highs of 12, 13 in the north and 15th the further south. tuesday

night into wednesday, the high—pressure system will drift southwards little bit. the weather system is running into the north of that, over the top of that. scotland and northern ireland, it will be quite a wet day on wednesday. heavy rain in the west of scotland. elsewhere wednesday, there could be a few showers drifting southward. largely dry the temperatures of 1a to details on the website but that is it from me. goodbye. hello, it's monday, it's 9 o'clock, i'm victoria derbyshire, welcome to the programme. our top story today — a gunman opens fire at a music concert in las vegas. reports of at least two dead and multiple casualties. we saw first officers running into the lift bay. they were going up. they were coming down. they were going this way, that way. we were told to get out. one shooter is up there, we were told by police and

one is roaming around and we were told to come here and we think we're safe here because there is so many police. in the last few minutes police have given this update. 0fficers officers as well as our partners have responded to reports of an active shooter situation at the mandalay bay. i can tell you at this time we have a suspect down. we'll keep you right across this breaking story.