this is business live from bbc news with susannah streeter and sally bundock. britain's prime minister, theresa may, is set to meet business leaders from the uk's financial services industry as the government attempts to secure a brexit deal that will include the sector. live from london, that's our top story on thursday 11th january. banking on a deal. the finance industry is britain's biggest exporter, but can it expect to stay that way after brexit? philip hammond and david davis are in germany today to push for the best outcome. also in the programme, the uk is to announce a plan to eradicate all avoidable plastic waste by 2042, but will it have any legal effect? this is the situation on the

financial markets in europe, the ftse very slightly up. sally? if men, orwomen, grappling in a ring is yourthing — we'll talk to the entrepreneur whose business helps wrestling fans follow their heroes around the world. and what you think of theresa may's plastic plans? fantastic, or do they not go far enough? do get in touch. hello and welcome to business live. we start with brexit, and the future of britain's huge financial industry once it leaves the eu next year. today the uk chancellor, philip hammond, and brexit secretary david davis are in germany trying to win support for a favourable post—brexit trade deal, especially when it comes to financial services. the financial sector is the uk's biggest exporter, accounting for 10% of the entire economy and 2.2 million jobs. but the uk argues the city of london

is also important for europe. mr hammond and mr davis will remind germany its firms need access to london's financial markets. the bosses of barclays, insurance giant aviva and goldman sachs international are thought to be among up to 15 top finance chiefs meeting prime minister theresa may later. she will be trying to reassure them the uk will remain a vibrant financial sector after brexit. there will be tough talks ahead. the eu's chief negotiator, michel barnier, has been clear britain cannot cherry—pick which benefits of eu membership to keep and there will be no special deal for its financial sector. soa so a pretty busy day when it comes to brexit. i'm joined by the lawyer miriam gonzalez, who specialises in international trade and government regulation at the law firm dechert llp. nice to see you, good morning. what

are you expecting to be achieved to date? if we start with bill hader and david davis in germany, in germany right now they are pretty busy trying to form a government if nothing else. —— if we start with philip hammond. they have detected there is a lack of emphasis from the other side of the business, the european business groups, and i think that is absolutely right, it isa think that is absolutely right, it is a good idea to go not only to germany but other european countries to try to get brexit much more to the top of the agenda, because it is falling down the ranks. but the important thing is that they have something new to say, because they say they want a really good agreement, but that is not going to make a big difference. they will be looking at the detail. and we don't know what the detail is. to the press, the media, they will say one thing, but certainly the impression

from the german media is there is no way we will be getting any special dealforfinancial way we will be getting any special deal for financial services in europe. to what extent do you think those who matter in europe, the likes of michel barnier and others, are likes of michel barnier and others, a re interested likes of michel barnier and others, are interested in a special dealfor financial services? i do not think thatis financial services? i do not think that is even the discussion now. the european union have heard what the uk government does not want, because theresa may decided, on her own, really, not with parliament with the we discovered afterwards, this idea not to go for the customs union or the single market, so what the european union is waiting for — in brussels, germany, madrid, paris, everywhere — is to hear what you want. as soon as she defines that, they will stop the discussions, but

there are around 53 or 63 weeks, i think, to brexit, not a lot of time! eu officials have been writing to company bosses in key industries, warning them that britain will effectively be a third country if this deal is not done, it is a stark warning for them. britain will be a third country no matter what. but without automatic access to the single market. there can be no single market. there can be no single market. there can be no single market access taking into account what the prime minister said, we had seen what alternative arrangement may be negotiated. it is very difficult to negotiate anything until the uk government decides what kind of model, new model, whatever it is they want, and they put it on the table. all these words about the best possible agreement, i don't

know, it doesn't say very much. it is likely prime minister, in the election was talking about strong and stable — people lose interest, and stable — people lose interest, and in the business community it is the same. they hear these hollow words, and what they want is the substance. thank you, i can sense your frustration, thank you for coming in. just to say, if we do get detail, if we get information about how the discussion is going on in germany today, and also theresa may's meeting with the bosses of ba rclays et cetera, may's meeting with the bosses of barclays et cetera, we may's meeting with the bosses of ba rclays et cetera, we will let you know. let's take a look at some of the other stories making the news. china's economic growth probably accelerated to 6.9% in 2017. premier li keqiang has told a regional summit in cambodia. that would be an improvement on the 6.7% seen in 2016, which was the weakest in 26 years. mr li said china has done well because it refrained from flooding the economy with stimulus while pushing ahead with reforms. the value of bitcoin has fallen more than 10% on the bitstamp exchange, after south korea'sjustice minister

said the country is preparing a bill to ban trading in cryptocurrencies. bitcoin sank as low as $13,120, its wea kest since the beginning ofjanuary. uk prime minister theresa may will pledge later to eliminate avoidable plastic waste within 25 years. supermarkets will be urged to introduce plastic—free aisles and compulsory charging for plastic carrier bags will be extended to all retailers. but green groups have criticised the plans as having no legal force. that is the story we are asking you to get in touch about, we will be discussing them all later. now to a story being closely watched in india. vijay mallya is one of the country's best—known entrepreneurs, with business interests ranging from kingfisher beer to an airline of the same name, to the force india formula one team and an indian premier league cricket club. now he's battling extradition

from the uk over fraud allegations — which he denies. he faces a hearing not farfrom here at westminster magistrates court later today. suranjana tewari is our india business correspondent in mumbai. tell us more about these latest developments. well, this is a long—running trial. it is a trial, a case lodged by the indian government to try and get vijay mallya extradited back to india to face a raft of allegations. they include money—laundering, fraud, financial irregularities and tax evasion. most of them are related to the now—defunct kingfisher airlines. ba nksy now—defunct kingfisher airlines. banksy or say that the airline took loa ns banksy or say that the airline took loans of $1.1! billion and defaulted on them, and vijay mallya is personally accused of using some of

that money for personal use. banks here are struggling with bad debt, so here are struggling with bad debt, so vijay mallya has really become a poster child for the indian government going had and dealing with this issue. but they also have a lot of allegations against him and many of his businesses, so that is why the indian government is really trying to get extradited back, and thatis trying to get extradited back, and that is what this trial is all about. suranjana, thank you very much for that update. let's check in with the financial markets. the new year rally has finally petered out over concerns about rising us protectionism. japan's nikkei down by a third of 1%, tech shares leading the decline with samsung down 1.4%. australia's all 0rdinaries index fell, following on from losses on wall street. the hang seng hanging onto positive territory. some investors seemed spooked by an unconfirmed report that canadian officials increasingly expect us president donald trump to call time on the nafta free—trade pact.

this is the situation so far on in europe. the ftse is in positive territory, the dykes macro in frankfurt down very slightly, the cac 40, not much change in europe so far. —— dax. 0n on thursday, there will be a release of data on the labour market, expecting to show that it increased 3.2% on the pp! figure. in the 12 months through to december, it is expected to have advance 3%. in any news, delta airlines will report of quarterly and full—year results. the number two us airline by passenger traffic will absorb an estimated 25

million dollar hit from a power outage in atlanta. the filings will also include the busy holiday travel period, which is historically one of the airline's most profitable periods. we have another very familiar face. joining us is david buik from panmure gordon. lovely to see you, david, how you? hgppy lovely to see you, david, how you? happy new year, top form for an old bird. you are always on top form, i have never known you any other way! ijust want have never known you any other way! i just want to mention this, it have never known you any other way! ijust want to mention this, it is just come across the wires on reuters, they are saying they are quoting angela merkel as saying she says there is still big hurdles that needs to be cleared before a coalition can be formed. this of course in germany, she has been grappling with this... three months 110w. grappling with this... three months now. you must be exhausted. but it seems they are not making any

headway, tell us what that means for markets. what it means for the markets, as you rightly pointed out, it doesn't done much to the dax, but people have realised there are serious problems with the right wing in german politics, getting quite a strong game because of the immigration factor, allowing a million people in, even though germany is desperately short of quality people to work in the car industry, where they really needed. finding the key to the kingdom is going to be very difficult. the one thing we can be certain of is that germany is very stable politically, so germany is very stable politically, soido germany is very stable politically, so i do not think it will be at a turmoil, but i fear another election, because i think the only way to clear this up, you can't carry on keeping people at bay, and she should be at the forefront with macron in organising the brexit negotiations, you know, obviously manipulating michel barnier. he is having to cover many things at the moment. i'm talking about elections, we have president trump, over a year

in office, and protectionism rearing its head, fears that he will wrap up nafta is affecting the markets. what do think the prospects are? he has told us all right from the word go that he is a protectionist, the policy of the republican party, and i think we have sort of soaked this up, we have these terrible imbalances of who has got deficits, and while he remains president of the united states, it will be america one, two, three and four. but the markets seem to be able to cope with it, basically because the asset classes are very unattractive, bonds and things like that, as we said before, yields are starting to creep up, and whether it actually signals a new wave of interest rate hikes, i personally don't see it. global growth is supposed to be 3.7%, but until we see the tapering of quantitative easing, plus

consistent noises or markers that we are going to see rates going up, i can see more than a modest correction. all right, we will keep a watch on that. putting david on the pause button for now, but back soon to talk plastic and other stories, interesting bits coming later. still to come... if men — or women — grappling in a ring is yourthing, we'll talk to the entrepreneur whose business helps wrestling fans follow their heroes around the world. you're with business live from bbc news. christmas results have been pouring in today, and they're a bit of a mixed bag. marks & spencer has reported a fall in sales, tesco has reported solid growth, and john lewis has warned of a tough 2018. let's get more on this with natalie berg, global research director at planet retail. can we start with tesco? how did it

do? tesco is emerging as one of the winners. they will never return to theirformer winners. they will never return to their former glory because there has just been too much structural change in the market with the rise of online and discounters. but overall, very strong numbers. the ship has been studied. their turnaround strategy is bearing fruit. they have done a lot to focus on the cost reducing prices and making the shopping experience more pleasant. tesco is one of the winners. what about the losers? house of fraser on that list. its online sales have suffered, haven't they? yes, it has to be bad if your online sales are falling in the run—up to christmas. very few retailers have experienced this. mothercare being the other exception. most places need the online to pop—up falling store sales. that is indicative of current

high street trading. the future not looking bright for a house of fraser. department stores have had a dreadful time. fraser. department stores have had a dreadfultime. debenhams fraser. department stores have had a dreadful time. debenhams is closing stores, amadeus is closing stores. we are seeing a shift towards online shopping. —— m&s is closing stores. most consumers are not buying as many material goods. we are expending money and experiences instead. —— we are spending money. instead. -- we are spending money. thank you. lots of stories on this on the bbc business live website. yes, more detail on that. marks & spencer food, the bright light yes, more detail on that. marks & spencerfood, the bright light dims is the headline. the food sales have a lwa ys is the headline. the food sales have always kept its earnings higher. but these figures are disappointing in food and online business as well. that is according to hargreaves lansdown. a that is according to hargreaves la nsdown. a lot that is according to hargreaves lansdown. a lot of detail on there.

take a look when you have time. discounters doing very well in the run—up to christmas. more detail on the bbc app. you're watching business live — our top story. britain's prime minister theresa may is set to meet business leaders from the uk's financial services industry later today, as the government attempts to secure a brexit deal that will include the sector. a quick look at how markets are faring... they have been trading for nearly 15 minutes. a mixed picture. the dax bucking the trend in frankfurt, down by five point want to —— 0.02%. do you know your hulk hogan from your big show? well if not, maybe you should — because the sport of wrestling is huge, attracting fans around the globe. in 2016, the wwe - that‘s wrestling's main body— received over 15 billion views on the digital video on its website. and last year, wrestlemania — that's wrestling's

equivalent of the super bowl — generated over $180 million for the city of orlando. lots of wrestling in our house. and i haven't actually been to see a wrestling show. our next guest has founded a business which provides, travel, accommodation and tickets to events for those looking to follow their wrestling heroes around the world. lee mcateer, founder of wrestling travel, joins us. thank you for coming in. tell us how this began? how did you come from thinking, like wrestling, to setting up thinking, like wrestling, to setting up this wrestling travel firm? wrestling has been a passion of mine since i was a kid. when i grew up i was watching hulk hogan and others. giant haystacks is more my age group. that is probably too old for me! there were huge part of the uk

wrestling scene. but now wrestling has transcended into popow —— popular culture. it is big business. it is something we are doing really well with. what finding is that as more people get into wrestling, more people want to go to the events. that is where we come in. why do we need you to make that happen? don't most people do it all themselves, book a flight, get a ticket and a hotel room? it is a great question but there are so many different parts to put that wrestling package together. that is where we come in. it is the customer experience. we do things better. we go the extra mile for people. if you do it yourself you will save money. i would imagine most people think if ijust get online and find the flights etc, i will get a better deal? as a huge fan myself, when i was given tickets

to wrestlemania, i thought, fantastic. i didn't realise how difficult it would be to get the hotel sorted, the flight sorted, because of how popular these events were. because we had this massive travel company we created, we were able to bolt on the wrestling events. as a consequence, you literally pay one price and everything is covered. convenience is what we do. an ex-girlfriend's present to you spawned a business, didn't it? absolutely. i am very lucky in the fact they are —— that i have some fantastic people around me. people want the niches. if people want something and they are so people want something and they are so passionate about it, that is where the business lies. we have got a huge waiting list ready for wrestlemania 30 five. that is partly because possibly there is not another company like yours around the world that does this?

absolutely. that makes us too! it is cool we are the only ones doing it. hopefully that will continue. cool we are the only ones doing it. hopefully that will continuelj cool we are the only ones doing it. hopefully that will continue. i want to ask you about your style of management. you describe yourself as a big kid at heart. absolutely. you made us laugh in the green room. he builtan made us laugh in the green room. he built an office full of balls for his staff. we always like to surprise people. we filled the entire office with 250,000 balls. didn't tell anybody. as everybody arrived, they were like, what is going on here? imagine you are working out of a bolted? that is what happened. ben thompson is in salford today. maybe we can put him in touch with you. please do. it will be there on sunday. lovely to

meet you. thank you for having me. more than 200 drones are dazzling audiences in las vegas, with a night show over one of the city's most famous hotels. the dancing quadcopters are intended to show how swarms of the flying machines can be deployed without crashing into each other. tonight you just saw 250 drones performing the first—ever show. everything is simulated, preprogrammed. we know how the drums are going to fly. we have positioned

themselves about 1.5 metres around each other. we know they won't collide. i think that the technology intel has come the applicable in a lot of different ways. imagine if you had a drone for a search and rescue and if you were stranded,

uranium g say it is hopeless, the green and say it is hopeless, the green people saying 2042 is too long. and say it is hopeless, the green people saying 2042 is too longm is not compulsory. that is true. there aren't any legal ramifications if you don't follow through. there aren't any legal ramifications if you don't follow throughlj there aren't any legal ramifications if you don't follow through. i know what you mean. but i hope it is a discussion. if you come in with legislation, you will not do this, you will not do that, you have to pay 25p you will not do that, you have to pay 25p etc, that has to go through the statute books. what i think we haven't had is proper discussion from the prime minister on how she intends to evolve this whole procedure, which we all agree is essential. plastic bottles is the one that gets me. we try to fill up the old bottle at home, which is the

right thing to do. this was shocking. the campaign saying there needs to be more stick rather than character. many of you have been in touch. steve foster says if those water cooler bottles go back to the company for reuse, they don't count. he is referring to a picture we put on twitter. plastic cups do count. they are often chucked away. sarah says southport beach is awful. she filled to rubbish bags full of plastic in one day. another says we should do our bit in reducing and recycling, including manufacturers by using biodegradable packaging. absolutely. if you think about it, oui’ absolutely. if you think about it, our old bags, we have got them at home. get rid of those. thank you for coming in. i'm sorry i could not

have been more for coming in. i'm sorry i could not have been more objective. good morning. some pockets of frost around the uk at the moment. the biggest hazard will be fog. this is the scene this morning in salford. very foggy conditions. that could cause some problems. it could linger through the morning into the afternoon. it will have some travel impact. the thickest of the fog is across north—west england, the west midlands and into the south—west. a lot of that will clear away this afternoon. further east across england, largely cloudy with outbreaks of rain. by 3pm, they should be a good deal of sunshine across the south—west of england and indeed across wales. towards east wales and the west midlands de fog patches could linger. for northern ireland, fog should clear away. there will be some bright spells.

plenty of sunshine for much of scotland. as you can see, it will still feel pretty cold. highs of one and 2 degrees. coming into england again, we'll see more cloud across eastern areas of england in particular. hill fog, rather murky conditions. 0utbreaks particular. hill fog, rather murky conditions. 0utbrea ks of particular. hill fog, rather murky conditions. outbreaks of rain and drizzle in the south east of england. temperatures between six and seven. this evening and denied some patchy fog. not as widespread 01’ as some patchy fog. not as widespread or as dense as it was this last night. a bit of a misty and murky start to friday morning. some pockets of frost. 0n the whole, temperatures staying above freezing. for friday, any fog should clear away. a cloudy day in northern and western areas with a few holes developing. that a brightness. temperatures fairly similar to today. 6 degrees in newcastle, 9 degrees in plymouth. how about the

weekend? we will see this weather front moving towards western parts. as it moves into high pressure, while there will be some rain at times on saturday and into sunday, that weather front will weaken. it will become mostly dry over the weekend. i suspect over the course of the weekend, lots of dry weather. some rain. lots of cloud. it would be quite breezy throughout the weekend. more details on the website. -- it website. —— it will be quite breezy. hello, it's thursday, it's nine o'clock, i'm victoria derbyshire, welcome to the programme our top story this morning — the nhs is facing a watershed moment where patients will be failed unless the government provides more cash. that's according to hospitals and ambulance service leaders, who say they can't cope with the pressure they're under. we've now reached a point where we have to make a choice, which is, do we want to preserve those standards, and that's what everybody in the nhs would want, or do we abandon them? and the only way we can preserve those standards is if the nhs and the health and care system more widely

gets the long—term funding settlement that it needs. we'll ask doctors and health experts what changes they'd like to see. we will talk to a conservative mp who has had cancer twice as well. also this morning, plastic—free aisles for supermarkets, just one of the government's ideas for cracking down on waste. but without tough laws to force people to change their habits,