this is business live from bbc news with sally bundock and jamie robertson. two major security flaws leaves most of the world's computers exposed to hackers with our personal data on the line. live from london, that's our top story on thursday, 4th january. computer chips made by intel have been shown to have serious security flaws but those made by arm and amd are also affected, we'll tell you everything you need to know. also in the programme. a week after iran's protests kicked off the authorities declare victory but the economic worries haven't gone away. japan closes at a 26 year high. this

is europe and how it is trading right now. this is europe and how it is trading right now. and taking homework online. we'll speak to the former teacher whose using to technology to make it easier for students to give in their work and teachers to mark it. so will it bring an end to excuses like "my dog ate it, sir"? today we want to know. with the floating of spotify set to be worth billions — have you embraced the music streaming revolution? or are you still using an ipod, cds or vinyl? just use the hashtag bbcbizlive. hello and welcome to business live. so many of you have been in touch already about the spotify story so keep your comments coming in and we will fill you in on what you have been saying as the programme progresses. let us start with the story

regarding intel. let us start with the story regarding intel. nearly all the world's computers worldwide have been exposed to security flaws which leave them vulnerable to attacks by hackers. many smartphones and tablets are also affected by the flaw in the chips which power the devices. there are two separate security flaws, known as meltdown and spectre. meltdown affects intel chips, they're the most popular by far, and are in around 1.35 billion personal computers worldwide as well as internet servers. spectre potentially has a wider reach. it affects chips in smartphones, tablets and computers powered by intel, arm and amd. fixes are being rolled out, but some researchers have claimed they could slow down computer systems by as much as 30% but intel believes these claims are exaggerated. let's get more on this with our technology correspondent rory cellanjones. so it seems like we have a

programme. one for us, two for intel. let us talk about us first, have we got a problem, how big is it? i love the fact that cyber security industry calls these two meltdown and spectre. nothing to scare anybody at all. this is, this is very serious, the industry has known about it for some month, what happens is they are discovered and there is a race to fix them before they become public, so, they are annoyed it has come out. what this is, isa annoyed it has come out. what this is, is a flaw which could enable somebody with malicious intent to get into the heart of a computer, places where you are not supposed to be able to get, where secure information such as passwords, the crown jewels are kept, information such as passwords, the crownjewels are kept, so information such as passwords, the crown jewels are kept, so that is why there is such concern. but there has been this effort goes on over many months to fix this flaw, in all of these different chip designs, i think it is quite far advanced. the

security patches are already being rolled out, we should see more over the coming days and obviously the instruction is, if you get a note saying update your computer, do it. 0k, saying update your computer, do it. ok, what about intel, how big a problem for them is it? it is less ofa problem for them is it? it is less of a problem we first thought. when this first merging a news site that broke this yesterday, and it was thought to be just about intel, and other chip makers were walking round looking pleased with themselves, then, late last night we had google security blog, pretty respected, came out with this line it actually after fectd effected amd, a came out with this line it actually afterfectd effected amd, a big rival chip maker and arm who designs the chips that go into mobile phones. a huge hit on intel share price, at one point it was down 5%, others were soaring upwards, we will see the pain is spread more evenly. 7 one last question, as far as we know, nobody has made use of this

vulnerability, has anyone hacked7 we arejust open at vulnerability, has anyone hacked7 we are just open at the moment? it is a potential vulnerability, the uk's national cyber security centre, stressed as far as we know nobody so far has managed to exploit this flaw. thank you. are you off tomorrow7|j am thank you. are you off tomorrow?” am getting on a plane to go to... las vegas. what some would regard aztec heaven, the show in las vegas. the next time we will see rory it will be there. we look forward to hearing about it. we look forward to hearing about it. let's take a look at some of the other stories making the news. the world's most popular music streaming company spotify is widely reported to have approached us regulators to list its shares publicly on the new york stock exchange. according to axios and bloomberg, the firm hopes to launch its shares in the first three months of the year. the company could be worth as much as $15bn and has declined to comment on the reports. electric car maker tesla has again pushed back production targets

for its mass—market model three. tesla now says it will hit 5000 cars per week at the end of the second quarter — instead of at the end of the first quarter as per their previous announcement. as tech heaven, the show in las vegas. the next time we will see rory it will be there. we look forward to hearing about it. manchester city have more financial firepower than any other club in world football accuse coring to a new ranking by soccer x. it is owned by sheikh mansour, who has invested heavily in the team since he took it over almost a decade ago. next, iran, where the head of the revolutionary guards has declared the defeat of ‘sedition‘ in the country. he's referring of course to a wave of anti—government protests which began last week. but the economic issues behind them haven't gone away. this is iran's economic growth rate over the past decade. you can see how it has struggled because of international sanctions —

and then been boosted since the deal over iran's nuclear programme the problem is — many people have yet to feel the benefit. according to a bbc persian investigation — living standards have fallen sharply over the last decade — with the average household budget down to £12,500. france—based tv presenter sanam shantyaei has just returned from iran. she told the bbc the economy is the main grievance for many people. ording toa ording to a new ranking by soccer x. it is owned by sheikh mansour, who has invested heavily in the team since he took it over almost a decade ago. the price of stanle goods has been soaring compared to people's incomes. let us talk to a middle east a nalyst. incomes. let us talk to a middle east analyst. those things, is that the reason we have problems the main driver is certainly economic grow vanses, i think you can —— grievance, you can summarise them in two point, firstly the nuclear deal, which came into effect in early

2016, raised expectations significantly, the president sold it as something that would reinvigorate the economy and boost living standards, while economic growth has rebounded living standards haven't matched that. isn't it too soon, given the fact that international trade sanctions were only lifted recently. that is a good point. things take time but the trouble with the recovery that has happened is that it is mostly been in the oil and gas sector, which is not labour intensive so it doesn't necessarily help boost employment, one of the key inissues ssm is the government aware and it is doing something about this? the government is aware but there is a contradiction between the authorities in iran. the president is keen to introduce economic reforms, but of course, there is the conservative establishment within the theocratic

regime that contradicts these. as well, many have said that one of the major issues for the economy is the banking system, the financial services and the fact they are so far behind? the banking system has its own problems domestically, there isa its own problems domestically, there is a lot of bad debt, a lack of transparency, but sanction, us sanctions are still inhibiting the banking sector. we will leave it there, thank you. china's didi chuxing is going to be at loggerheads with us giant uber in brazil, after buying out local firm 99 taxis for a reported $600 million. with more on the significance of this deal, robin brant is in shanghai. good to see you. so is that big deal and is uber worried? yes it is is a big deal, because this company is making its first big step in a foreign market. didi we are hearing

is looking to go into mexico as well and possibly employ drivers there under its own branding, so this move in brazil is a significant step in the latin american market. it reminds us of these big expansions that these big privately held chinese tech companies have. have. didi's c00 chinese tech companies have. have. didi's coo says it is a top priority. it is only four years old. they have managed to raise $4 billion in its last investment round last year, a young company but one with huge global ambitionings. it is a reminder as well of what china is trying to do in terms of its globe presence. the company is is a good example here, perhaps we will see more of the initial tie up, it has strategic partnerships with seven other... in certain markets and what it does it goes in and ties up and buys them later, is that going to happen in india or europe? almost

certainly. we will watch this space. let us look at the financial markets. it was a really good session in asia, japan closing at 23506. a 3.26 gain for the markets in tokyo, the first day of trading injapan, in 2018, that is a 26 year high. all this follows in asia throughout, and also it follows a record breaker the night before, particularly for the snp500. there is so much momentum in the markets. let us look at europe. we have a sense of how things are going. you can see they are up. germany up at the moment. there is lots of issues at play, we have oil prices rising, we had a weaker yen injapan, we have a big report out friday tomorrow, us december employment data which is very important, of global attention, so let us look ahead to today on wall street. here is samara. the eastern part of us

and canada has been living under cold temperatures for the last ten day, and now, the same area is expecting a winter storm so intense, it has been called a bomb cyclone, with snow and strong winds that could take out trees and power line, that means people who are out spending money will likely be buying shovels and heater, hopefully the adp national employment report will warm the hearts of wall street. it is expected to show that us private employers added 190,000 jobs in the month of december, finally the us drug store chain wall green is expected to report an increase in its first quarter profit, helped by a boost in sales of prescription drugs. joining us is maike currie, investment director at fidelity international. sojapan, off so japan, off with a sojapan, off with a bang? absolutely. what is the reason behind? it? we knowed that that a

strong second half after the re—election of the prime minister, and wejust re—election of the prime minister, and we just seeing a continuation of that. germany, the strong results out of germany and the us, strong manufacturing data is playing a role, but also, japan is benefits from the weaker yen, this is an export driven economy. it benefits when the currency is weaker. as well of course japan has been shut till now, since the end of last year, so it is kind of catching up because america and europe has been open for a few days and we have been seeing them going up and up. tell us about oil as well. that not breaking new ground but certainly, round $66 a barrel? the question is whether will oilfind the barrel? the question is whether will oil find the balance? barrel? the question is whether will oilfind the balance? probably between $60—70, we have tensions in iran, we have tensions between saudi arabia and iran, but also, global growth is picking up, on the demands side we are getting that coming through. but, doesn't round about

this level, i would have thought it was more like closer to $60 that they start opening the taps. that is isa they start opening the taps. that is is a good point. the shell producers have been nimble in picking up protection as soon as the oil price picks up and that threat remains there. opec has been more disciplined in putting the kerbs on. what about iran, what effect is that having on oil? we have the anti—government protest you spoke about earlier, so that is putting some pressure on oil but the big player is to peck cartel, they have been disciplined and decided to curb production for all of 2018. 0k. been disciplined and decided to curb production for all of 2018. ok. stay round. we will be talking about newspapers later and also about what you listen do your music on? vinyl? no, no. cd? streaming. all right. still to come. taking homework on

line we will speak to the former teacher who is using technology to make it easier for students to give in homework and for teachers to keep track of it. you're with business live from bbc news. have you ever raged about having to use a self—checkout till in a shop, rather than being served by a human being? you may have to get used to it. a new report is warning that some minimum wagejobs — including cashiers and shop assistants — could be replaced by machines or computers. agnes norris keiller, research economist from ifs joins us from the newsroom. what have you found? what are you predicting? good morning. in this latest piece of work we look at the sort of people who are doing jobs which are paid at the minimum wage. in the next two years, the minimum wage is set to rise substantially.

while people who are currently paid the minimum wage are currently employed in personal servants —— services like people currently work in personal services like care work which are difficult for machines to do. do you think this will push wages up because you cannot automate these jobs? yes, typically we think some on's wage is determined by how easily a new employer can choose between a work or a machine. because the lowest paid doing jobs which are ha rd the lowest paid doing jobs which are hard for computers to do, that has insulated them against technological change. however, over the insulated them against technological change. however, overthe next insulated them against technological change. however, over the next two yea rs, if change. however, over the next two years, if the minimum wage rises and

cove rs m o re years, if the minimum wage rises and covers more people, thejobs there's minimum wage workers are doing might be easierfor computers to do, so we might the increase in unemployment, rather than an increase in the wages of low—wage workers. interesting. agnes, thank you. on our website our economics editor kamal ahmed has also written about this report and the analysis of how it affects us all. and there is also a story about house prices which rose by 6.2% across the uk but the nationwide is warning that the situation varies depending on where you are. in london, prices are 55% above where they were in 2007, but in certain areas, including west london, you will find that prices have been falling. our top story today, tech firms are

rushing to fix major bugs in computer chips which means hackers could get our personal data. let's have a quick look at the market. all the markets are benefiting from rises in japan which all the markets are benefiting from rises injapan which itself benefited from rises in the united states. when choosing a career, becoming a teacher can be a very rewarding profession. however, many find the job stressful and are overworked. in a bid to tackle this, more and more schools are using online programmes to alleviate some of those pressures. according to some analysts, the global e—learning market could be worth $325 billion by 2025. in india alone, the online education industry is expected rise by 800% over the next three years.

and in china, the country currently has 90 million students using online software for educational purposes. satchel is one example of a company which works with students, teachers and tutors to provide a range of services including interactive resources and online homework submission. i know it well. my son uses the system at his school. other products are available, or we have to say. they are indeed but not at my son's school. we'rejoined by naimish gohil, ceo and co—founder of satchel. just tell us what your product is capable of doing? our software makes it easy for teachers to set homework and parents can see the homework without having to rely on their

children. they can have this information ahead of time. i think the big benefit is they can stay informed and be ahead of the curve so they can be involved in their child's education. i have to say, it sounds like a no—brainer. i'm amazed this was not done years ago but your company has been around a while, but i'm amazed there is not more competition in this market? icon from this world. i used to be a teacher. but you are also an engineer? have an engineering background so i was able to merge my engineering and teaching skills. when you are a teacher in the trenches, you don't have time to learn how to use lots of new technology. it should be like electricity. you should just press the switch and it will work. i think that has been one of our big strengths. i have to agree with you.

iam strengths. i have to agree with you. i am useless when it comes to technology that i can use this and i can keep an eye on what my son is up to or what he is not up to, but it does not improve his performance. it just tells me what he's doing or what he was not doing. i wish there was something out there that would make in work harder or better or improve? that is a very valid question. from our side, technology like this can hopefully free up teachers‘ time and if we can do that it means they can spend more time creating relevant quality homework, so when students are spending outside school, it is worthwhile and they are more interested and engaged in it. how much competition is there? how far right you getting into this market? how much further is there to go? in the uk we are used by more than one in three secondary schools in the uk. we have customers in 23 countries outside

the uk. what is exciting and beneficial for the industry as a whole, we see lots of technology from other education providers and other teachers, but are building solutions that can hopefully impact the whole industry. the way you make money as the school pays you an annual subscription for this service. but i would expect the school then to make some savings. so my son has got the system that we are talking about, but also he has this big fat homework diary where he physically write stuff in there as well. you would think the schools would make some sort of savings but they‘ll still using old tech and new tech?... yes, we are starting to see that more and more. as schools become more and more comfortable with technology, we are finding over time they reduced the amount of money they spend on physical products like diaries. naimish gohilfrom products like diaries. naimish gohil from satchel, products like diaries. naimish gohilfrom satchel, thank you forjoining us. in a moment we‘ll take a look

through the business pages but first here‘s a quick reminder of how to get in touch with us. stay up—to—date with all the day‘s business news, as it happens on the bbc‘s business live page. there is insight and analysis from our team of editors around the globe and we wa nt to of editors around the globe and we want to hear from you. of editors around the globe and we want to hearfrom you. get of editors around the globe and we want to hear from you. get involved on the bbc‘s business live web page. we are on twitter and you can find us on we are on twitter and you can find us on facebook. business live, on tv and online. what you need to know when you need to know. what other business stories has the media been taking an interest in? maike currie isjoining us again to discuss. spotify, the big one. that seems to be getting everybody excited. are you excited? i am excited. it is interesting because we will see more and more of these digital players

list on the main stock exchange is. it is tricky to value these companies and we will see some comparisons with the company like snapchat which listed at a boom but since then the share price has fallen. we have a tweet but i am logging into twitter as we speak. technology is not my strength! james says i keep my vinyl as a souvenir. i still listen to old cds now and then. quite a few of you have told me that you still have cassettes.” love cassettes but you have to have a good machine to listen on. ryan says i never use spotify but i use apple music mostly with their download option, customise channels and he has a long list of streaming services. this person says vinyl

cannot be replicated digitally. another story, this story about norway, i really like. iam not surprised at all to hear that norway is the country with the most hybrid or electric cars on the roads. norway has a name of having hybrid or electric cars by 2025, so just in a few years‘ time, to reduce pollution. they give generous tax brea ks pollution. they give generous tax breaks and people who buy these cars get the benefit of free ferries and toll fa res. get the benefit of free ferries and toll fares. norway is the biggest producer of oil in western europe. the government now has two claw—back on all these subsidies and ways of encouraging people to use electric, because they have been so successful? her razor norway! leading the way. —— a ray for norway. see you soon. her good morning.

our turbulent run of weather is set to continue. it has been a wet start this morning. we will see the wind pick—up in wales. inland gusts could reach 60 mph, strong enough to bring down one or two trees. there could be transport disruption and localised power cuts. further north the wind will not be that strong. a band of persistent rain getting in across the central belt and southern scotland. some miserable weather in northern ireland and scotland. snow across higher ground. further south, gusty winds developing across wales and southern england with the risk of localised destruction. the winds die off for of localised destruction. the winds die offfora of localised destruction. the winds

die off for a time overnight. then we see the localised rain coming off the atlantic. coastal areas could have gusts of wind up to 70 mph overnight. it will be a blustery kind of night here. there will be plenty of showers elsewhere as well. on friday generally it is a day of sunshine and showers. we do have this narrow band of rain which will be slow moving across southern scotland, wrapping around northern ireland and northern england. there will be snow across highest ground. the temperature is cooler. the trend for getting the weather cooler continues to to the weekend. there will be a lot of cloud coming in off the north sea across england and wales, thick enough to give a spot of light rain or drizzle in the morning, easing away across the afternoon. bright skies coming into the north—west. it will be a cold

day. it will feel cold due to the strength of the wind. high pressure builds in through saturday night. a really cold night. temperatures in rural scotland could get down to minus ten. after the freezing cold start to the day, even though there will be loads of sunshine, temperatures will struggle to get above freezing in the north. that is the weather. this is bbc news, i‘m annita mcveigh. the headlines at nine. anger in the white house — donald trump‘s lawyers threaten legal action against his former chief of staff, steve bannon, over explosive claims in a new book on the president. tony blair rejects allegations in the book that he warned donald trump‘s aides uk intelligence may have spied on him. no, no. cd? streaming. all right. still to come. taking homework on line we will speak to the former teacher who is using technology to make it easier for students to give in homework and for teachers to keep track of it. this story as we pointed out is a complete fabrication, from beginning to end,

i have never had such conversation in the white house, outside of the white house. in the white house, outside of the white house. figures showing how nhs england coped over the christmas period are to be released shortly. non—urgent operations and routine hospital outpatient appointments have already been postponed. the environment secretary, michael gove, is to outline his plans to change the regulations governing food and farming after brexit.