this is business briefing. i'm sally bundock. here are the headlines. questionable direction — uber faces eu scrutiny over a huge data breach. counting the cost of mount agung — our asia business team updates us on how the volcano is hitting bali's economy. and on the markets: in asia, stocks are fluctuating if not a little lower as the us dollar is on the move ahead of a great tax debate in the us. more details in a moment. we start with uber once again. the ride—hailing app uber is in the spotlight today again. in the next few hours, its massive data breach is going to be probed by the eu's data protection body. let's have a look at the background.

uber admitted a week ago that hackers had got hold of the personal details of 57 million customers and drivers in 2016. the company originally appeared to cover up the breach. one us think tank has estimated that the breach could end up costing uber between $200 million and $250 million — a big cost for a company yet to make a profit. several eu countries, including austria, italy and the uk, are already investigating the breach. the eu's data protection group, known as an article 29 working party, could choose to coordinate these investigations. and things could get even stickier for uber. next year, a new eu body takes over the data protection role and will have power to impose fines of 4% of annual global turnover or 20 million euros. with me is anne marie baisden from bmi research. good to see you again. whatever

happens, it looks like uber will face the music and some serious fines, which will be very costly. talk us through this europe wide attack as it were. it isa attack as it were. it is a bit difficult because at the moment, the eu in its own right doesn't have the power to impose penalties. investigations will be at a state level and discussions over the next couple of days will be about establishing this task force to co—ordinate this investigation. it does mean it will be more serious thanif it does mean it will be more serious than if it were just individual countries on the road. as well, i suppose you could look at it and think it would save time, money, perhaps it would be a more powerful response if it was an eu wide response. i'm thinking in regards to this new body that will come into force next year. when the new rules come in in may, the eu authorities will be able to say there and then, if you haven't reported a hack within 72 hours of

it being discovered, you face a fine and it cuts out a lot of this individual investigation. that could cause problems between europe and the united states. absolutely. you will always have this difference in regulation and i think they will definitely still be kept separately. it just think they will definitely still be kept separately. itjust gives the eu that little bit more power to move quickly. and more protection presumably for those of us who use these apps like uber we hope? hopefully. to be honest when you start looking at these data intensive services, particularly in the transport sector, whether it be a ridesharing or connect in cars, moving on to autonomy eventually, we arejust moving quicker moving on to autonomy eventually, we are just moving quicker to a moving on to autonomy eventually, we arejust moving quicker to a lot more data being generated for you would want that level of action. what is the outback for uber —— what is the out look for uber? this is enormous but they tried to cover up.

i think critically for consumers, that would be part of the problem. it is not just that would be part of the problem. it is notjust a breach but the fact it was covered up as well. financially, they have certainly got billions in hand that they can pay the fines with, but it will mean a big change in culture to win people's trust. and especially when you have big investors trying to come in, they have partnerships with volvo for autonomous vehicles. these are big brands that don't want to be tarnished. it will need a big change in culture. think you for your time. we will keep an eye on the shore. it is bring you up—to—date with what is happening in bali. the airport on the indonesian tourist island of bali has been closed for a second day because of fears of a volcanic eruption. mount agung is continuing to spew gas, ash and smoke — a sign that a full—scale eruption could soon take place. how's this affecting the all—important tourism industry? let's go to our asia business hub where rico hizon is following the story. what is the latest information about

this? it is so important to bali, especially this time of year. absolutely. tourism is the backbone of this popular indonesian resort island. last year, the local economy posted a growth of more than x % and that was even stronger than the rest of the country, —— 6%. 300 million strong. since the threat of the eruption over the past few months, it has already cost the island about 110 million us dollars in lost tourism and productivity for stopping 2016 alone, more than 4.9 million international travellers visited the island will stop australians make up the biggest group, coming to bali, followed closely by mainland chinese. for this volcanic activity, bali has been on an upswing. last year's totals were up 23% from the previous year and represents more people than those actually live in bali. if mount agung erupts, this could have

a devastating effect on the balinese economy. thanks a lot. we will close at close —— we will keep a close eye. vietnam, south—east asia's fastest—growing economy, clocked a sizzling growth rate of around 7.5% in the last quarter. a lot of that is driven by the stalwarts of its economy, such as agriculture and fisheries. but increasingly, the country's young, skilled and cheaper labour force is driving growth in its technology sector. 0ur asia business correspondent karishma vaswani checked out vietnam's attempts to become a startup nation. a communist country with modern ambitions. this is vietnam's in 2017. it has always been an entrepreneurial nation, but this new generation is turning to technology to broaden their opportunities. take p°p5 to broaden their opportunities. take pops worldwide. it early on, they recognise that demand for vietnamese language content. this firm was

started ten years ago. as a young girl, she escaped communist viet ma'am. in 2007, vietnam decided to let overseas via the knees to return visa free and bataclan esther came back to her homeland. backin back to her homeland. back in 2007, he had to swim on your own and try to find your own tables and chairs and workspace and investors and really had to convince white vietnam. as opposed to today, they are really interested and there isa they are really interested and there is a lot of buzz about vietnam. they are really interested and there is a lot of buzz about vietnamm is a lot of buzz about vietnamm is quite different i would say. every single year, vietnam produces something like 150,000 engineering graduates. this youthful and energetic population is one of the key reasons why so many people think this country could become asia... next technology powerhouse. —— would

become the next technology powerhouse. they need the money to scale up. that could be what makes or breaks a company. investors are coming from overseas to local start—ups, even if they have a good idea, they usually don't have a good idea, they usually don't have the right support network to get them to the funding stage. this vietnam venture is in his first. he has run start—ups in silicon valley and canada before. yet he has found it challenging. but what keeps him and others coming here are the opportunities and the hunger to make an impact. now, let's brief you some other business stories. us prosecutors have charged three chinese nationals affiliated with a cyber security company in china with hacking. authorities say the three targeted moody's analytics, siemens and gps maker trimble to try to steal business secrets. donald trump's picked to lead the us

central bank defended regulation aimed at staving off another financial crisis. powell also pledged to ease red tape on banks will to mr powell thought us would face further moderate us rises. and now, what's trending in the business news this morning. the financial times has a take on our top story — the eu probe into uber‘s big data breach. it says the incident has ramifications for us all. the wall streetjournal continues its focus on the situation in bali and the danger posed by mount agung. it's reporting how the closure of the island's airport is affecting the tourist industry. and bbc news has been speaking to avocado farmers in mexico. they're increasingly facing violence and intimidation from criminals trying to muscle in on their lucrative crop. that is a story that has a lot of

attention on bbc online. and don't forget — let's us know what you are spotting online — use the hashtag #bbcthebriefing. a very brief look at financial markets. this week is a big one for the united states. it has everyone's attention. you can see the hang seng is down 1%. australia is also down. japan is bucking the trend with a wea ker japan is bucking the trend with a weaker yen helping. we have the news briefing next. we will look at some of the big

stories in the media in a moment. first of all, let's highlight this one. for the first time, parents of stillborn babies are to be routinely offered an independent investigation into what went wrong. it's part of efforts to cut the number of deaths and serious injury to newborns by half by 2025. while there has been some success in reducing the number of stillbirths in babies aged 24 weeks or over, the uk still lags behind many other european countries. here's our health correspondent dominic hughes. losing twins during pregnancy and then having baby hugo very prematurely... means rachel understand all too well the challenges childbirth can present. her experience has taught her that both parents and medical staff need to be more aware of when things could go wrong. i think it is educational and women to never be afraid to ask questions and raise concerns, and it's also

the medical establishment and encouraging them to do so. now, the health secretary in england is announcing that rather than hospitals carrying out their own investigations when things go wrong and independent review being carried out instead. when i talk to parents whose heart has been broken by something that's gone wrong, in those very small numbers of cases, what they say is it's not about the money. theyjust wa nt to it's not about the money. theyjust want to know that the nhs has learned from what went wrong so that the same mistake isn't ever going to happen again. the uk lags behind many other european countries when it comes to preventing baby deaths and premature births. there are still around nine stillborn babies every day, roughly 50 women still die in england each year from issues related to pregnancy and around 50,000 babies are born prematurely. progress is being made, but there are concerns that difficult lessons are not being learned. you are with a briefing

from bbc news here are the headlines. pope francis is continuing the second day of his visit to myanmar and is due to meet the country's de facto leader, aung san suu kyi. more than 100,000 people near mount agung in bali are being urged to evacuate as the indonesian authorities warn it could erupt at any time. and security has been stepped up in the kenyan capital, nairobi, ahead of the inauguration of president uhuru kenyatta for a second term in office. and our main business story this hour — a european commission body is examining uber‘s massive 2016 cyber security breach, which saw 57 million customers and drivers across the world have their data stolen. now it is time look at the stories that are making the headlines in media across the world. and don't worry, we will get to

meghan and harry, it is in there. today we begin myanmar, with the myanmar times, and the visit by pope francis during the ongoing humanitarian crisis there. the pontiff will be spreading a message of peace, but has been advised to not raise the word rohingya. meanwhile, protests have been banned by the regional government. to the irish times. as the country faces a political crisis, leaders of ireland's two biggest political parties will resume talks this morning to avoid a snap election. over the japan times, where a japanese female politician has sparked an online war of words by taking her baby to work during an parliamentary session, to highlight the difficulties faced by working mothers. making headlines for the financial times: bitcoin soars to record new highs, and triggers unease among traditional marketplaces.

the cryptocurrency has risen more than 850% since the start of the year. and lastly, the daily telegraph dedicating a full front page to the prince and his soon—to—be new princess, with the line from prince harry "the corgis took to her straightaway." how the world has reacted to the news of the royal engagement. so let's begin. with me is iain anderson, founder of the international communications agency cicero group. so let's get stuck in. myanmar