this is business live from bbc news with david eades and ben bland. has coca—cola lost its fizz? the world's biggest beverage maker reports results in a few hours — amid a 12 year decline in soft drink sales. live from london, that's our top story on friday the 16th of february. consumers are choosing healthier options — which is good for the waistline, but bad for companies like coca cola's bottom line. also in the programme, shampoo, deodorant and other household products could be as hazardous to health as car emissions, a new study has found. we'll find out more in our paper review. as for the markets, let's look at how the european markets and the ftse have opened, around half a

percent, following on from encouraging signs from the nick cave. —— nikkei. and we'll wrap up the week's big events with our economics correspondent — including what's ahead for south africa's new president? what's waiting in his economic in tray? and we want to know have you ditched fizzy drinks and what are you having instead to quench thirst? no fizzy drinks, just coffee, ignored the three sugars! contact us. hello and welcome to business live. when it comes to our eating habits, it turns out that many people are choosing healthier options — or at least cutting back where they can. but for a company like coca—cola, does a shrinking waste—line mean a shrinking bottom line? just to give you an idea, one can of coke has about seven

teaspoons of sugar in it — and it accounts for 139 calories. that's about the same as eating a daim bar! americans are definitely cutting back. in 2016, soda sales hit a 31—year low in the united states. coke will be reporting earnings in a few hours‘ time and expectations are that revenue will fall 21% in the last three months of 2017. so the world's largest beverage company is looking to expand further into sugar—free alternatives and bottled water. but will that be enough? thank you. andy morton is news editor of the online trade magazinejust drinks. good to have you with us. already the tweets are coming in, including edward, i saw the line, ditched fizzy drinks, have swapped it for glasses of water bodies that where

the problems lie? partly, it's something that's been ongoing for the past picked, people drinking fewer sodas and turning to healthier alternatives. the drinks companies are aware of this, it's not a sudden thing happening overnight, it's been a long—term health push, the rabin government campaigns, health kick campaigns... absolutely, coca-cola and the drinks companies know about this and that the past 5—6 years they've been trying to buy as many new and trending products as possible. for example they bought coconut water, sparkling water, and they have also what plant —based drinks such as soya —based drinks, those kind of things, on trend, things that have less sugar and that people want to drink. on trend is one thing, persuading people is a long—term buy, they know that coca—cola sells, but it's on the

decline, what do they do? what they do is they tried to convince people that coca—cola is still a rewarding brand... it is for them. it is still a massive moneymaker. they don't wa nt to a massive moneymaker. they don't want to ditch it, it's still the crown jewels, what able trouble they do is reduced packaging sizes, they've been doing that for the past few years, they've been doing that for the past few yea rs, you they've been doing that for the past few years, you will have full sugar drinks in smaller packages, it's seen drinks in smaller packages, it's seen as drinks in smaller packages, it's seen as and we'll be seen more as a luxury, and indulgence. we have seen what some people are calling the adultification of drinks like coca—cola, making them sleeker. we have seen some bigger companies

like pepsi, moving into things like kraft sodas, to see if that will work. what has happened in the beer industry, trying to replicate it in the soft drinks industry, but it's still early days. what do you think the future is, are we likely to see consolidation, companies merging to survive? that's something that could happen, coca—cola, always rumours floating that a bigger company is going to buy it. there are these larger companies, owned by a large private equity firms, these are the kind of companies that may in the future look to buy coca—cola, pepsi cole have lines in food and drinks business, they could divert the businesses, food going one way drink scoring another. let's take a look at some of

the other stories making the news... theresa may is due to hold talks with german chancellor angela merkel today as she seeks to make progress on negotiating brexit. the uk pm is expected to set out her vision of how she wants the financial services to operate once britain leaves the eu. this comes a day ahead of a speech on saturday in which the british pm will set out the security partnership she wants to maintain with the eu. french car giant renault has asked carlos ghosn to stay on as chief executive for a further four years. if approved, he would also remain on as head of the world's biggest automotive group, which also includes the nissan and mitsubishi brands. us regulators have rejected the sale of the chicago stock exchange to a group led by chinese based investors , over concerns with its ownership structure. the deal has drawn criticism from us lawmakers who questioned the sec‘s ability to regulate the foreign buyers if the proposal was approved. japan's government has today nominated haruhiko kuroda

for a second term as the country's central bank governor. the decision is being seen as an indication that the country is in no rush to dial back its massive stimulus programme. let's go to our asia business hub where sarah toms is following the story. tell us more. how is this going down? it's been a good day for japanese markets, investors breathing a sigh of relief. the markets up just 1%, the yen is the strongest in 15 months up against the us dollar, showing investors wa nt the us dollar, showing investors want continuity over change. kuroda has been key to the success of the japanese prime minister, needs approval from both of the japanese prime minister, needs approvalfrom both houses, but there is a comfortable majority

silver should not be a problem but in his new term there are a couple of problems he will to deal with, and although japan is of problems he will to deal with, and althouthapan is out of the dangerous cycle of falling prices, inflation is not yet at the target 296 in inflation is not yet at the target 2% in the second problem he must sort is how to figure out how to exit from the stimulus programme. thanks very much. let's look quickly at the markets. on the nick cave... up at the markets. on the nick cave... upjust over 1%. at the markets. on the nick cave... up just over 1%. —— at the markets. on the nick cave... upjust over1%. —— nikkei. things going in the same direction within the japanese economy. the markets here in europe... london, the ftse, all opening up around half a percent. a little bit more correction to the big correction taking place there. now the details about what's ahead on wall street today.

on friday kraft heinz, known for its ketchup, jello and kool—aid — and for its brutal cost—cutting regime — is expected to report an increase in profits for the past year. the company, which is partly owned by billionaire investor warren buffett, attempted to buy consumer goods giant unilever last year, only to be quite swiftly rebuffed. and the world's largest soup maker, campbells, whose iconic tins were immortalised by andy warhol, is expected to report a drop in second—quarter profit. it's been hurt, in part, by harvest delays of one of its key ingredients, carrots, in california. and wall street will be watching to see whether monthly home—building data picks up after a sharp fall in december. a fall in demand for homes can have a ripple effect on the construction industry, on employment and the wider retail economy. shaun port is chief

investment officer at nutmeg. good to have you with us. the uk is trying to ensure it has alignment of financial rules with the eu post brexit, why is that so significant and how could it affect our kids? financial services are a big employer in the uk and a bigger contributor to the budget, with tax receipts. under eu rules there is something called equivalents, we could have similar rules covering a third financial services and the eu could revoke that with 30 days notice. it's important to uk gets alignment on the rules so financial services can export to the eu. it's early days. getting the ball rolling with mean something. it's significant, the first time we've heard anything from the government on financial services given how important it is to the uk economy.

some things the uk needs to sort out with the eu, probably a deal will not happen until the last minute. just mentioned earlier the bank of japan, the governor staying in situ, that seems to have gone down nicely, it's part of the pattern and therefore important. yes, it's good news, it was expected, taken off in extra area of risk, the japanese economy performing the strongest in 28 years, economy performing the strongest in 28 yea rs, nearly economy performing the strongest in 28 years, nearly shinzo abe wants to continue the strong progress. it's also very good for financial markets, and mortgage rates here, it has an impact, would you believe? right significant. likely to be disappointment in china over the blocking of the chicago stock exchange, what do you think is going on? it's the continuation of the theme, purchases blocked, some things in telecom, continuation of a theme along the lines of president trump protectionist policy, anti

china when it comes to trade deals. continuation of a theme. we will continue to watch. thank you. still to come. we catch up on the week's business highlights — including stellar growth for the eurozone. you're with business live from bbc news. mid—earners have being locked out of buying a home, according to a report out today from the institute for fiscal studies. with those aged 25 to 34—years—old hit the hardest. joining us now isjonathan cribb, a senior research economist at the ifs and author of the report. in some ways no surprises here, really? i don't think it's a great surprise what we found but i think it's important that we work out exactly who is being most affected

by the increase in house prices that has gone on in the uk over the last 20 years. and quite how that has fed through to much lower home ownership rates for mid—income people. through to much lower home ownership rates for mid-income people. in terms of the scale of all if you like, the number of people looking to buy, how dramatic is this? like, the number of people looking to buy, how dramatic is thi57m really to buy, how dramatic is this7m really is romantic. for middle income people, 20 years ago, about two thirds of young middle income people owned their own home, now it's done to just over a quarter. look across the uk, falls by ten percentage points or more in every single region with the largest falls coming in the southeast, evolve from about 64% down to 32% over the last number of years. how much further is the curve likely to go down? hard to predict exactly. some reasons to think this fall might slow. in the

regions and nations of the uk, except for london and the south—east over the last ten years there's been relatively little rules in house prices when compared to incomes. you might think the fault would continue to slow down in those regions but in london and the south—east, has prices are outpacing income growth and so we might continue to see falls for those regions. and so we might continue to see falls for those regionslj and so we might continue to see falls for those regions. i prices and growing interest interest rates, thank you. plenty of business stories updated throughout the day. right now, dig up a road, pay a fine, for those who hate those roadworks, those interminable roadworks. councils can start fining utility firms who dig up roads and cause traffic congestion, read more about that and brees a sigh of relief. that's all on the business

news online. you're watching business live. our top story — is coca—cola losing its fizz? the drinks giant is releasing its 11th quarter results in a few hours amid a 12 year decline in the us market for carbonated soft drinks. let's look at how the markets in europe are faring. all of them are in positive territory across the main markets. that is the pound against the dollar, well above the $1.40 mark. and now let's get the inside track on this weeks big business stories. andrew walker our economics correspondent is here. the bond markets, t—cell off. tell us the bond markets, t—cell off. tell us more? particularly in the united states. we had news about inflation in the us, people were expecting

consumer price index inflation to go to 2.9%, it didn't. that led investors to think that maybe the outlook for interest rates, the federal reserve, is for more increases than we were currently expecting. as a result, bond yields we re expecting. as a result, bond yields were rising, the longer term interest rate which partly reflects what people expect is going to be the path of the federal reserve interest rates over the coming years. it is quite a move upwards in what it costs, basically, to borrow in the us. you mentioned the inflation rate in the us coming in higher than expected. normally, people would conclude that increases the likelihood of interest rates going up and that then pushes the dollarup? going up and that then pushes the dollar up? it is more attractive to invest in assets in the dollar. but it hasn't had that effect? the immediate impact was exactly what

you would expect, the dollar going a little bit. it quickly reversed that entirely. there was a bit of reaction to retail sales figures that came out the same time, and perhaps there was a reflection that we shouldn't attach too much significance to one inflation number. the fed will be looking at a lot of other things before it makes a judgment on what to do. it is striking, over the last year, the dollar has actually been weakening. looking at what happens with interest rates, you might expect it to be moving in the opposite direction. there is a bit of a puzzle. there are theories about what is going on, but it is not absolutely clear. we have spent so much time focusing on south africa this weekend, we should perhaps look at the economic prospects for a country that has been considered not far short of basket case by some people. have we suddenly had a flip? can you see investment rushing in, great excitement? well, the markets

did respond positively to the political development is. we had an increase in the value of the rand, quite a significant spike in the johannesburg stock exchange. the way i put it is that they think the new president has got a fighting chance of making a worthwhile difference. it isa of making a worthwhile difference. it is a big call to say that one change of regime is really going to fundamentally change everything. clearly, there must be hope. but you are absolutely right that it has beena are absolutely right that it has been a pretty dismal period for the south african economy. the average growth over the last ten years has been1.4%. an emerging growth over the last ten years has been 1.4%. an emerging economy like south africa should be managing 4% or5%, south africa should be managing 4% or 5%, that is what malaysia and turkey have managed over that period. china has done a great deal better than that. it has absolutely dreadful story to tell about equality. we are far enough on from

the days of apartheid to hope that they can bring it on. no question that the president has a big agenda. he also has some belief among investors that he has got a chance of making some progress. and the rand strengthened. even with the best will in the world, suddenly coming into office with clear ideas about how to tackle the problems, it is going to take time to turn it around? and there is a formidable agenda. dealing with the government finances, which are a bit weak, but not catastrophically so, is easy. we are going to have a budget quite soon. there is an opportunity for the regime to make progress there. there are things like educational reform. south africa is a terrible problem with many people who do not have the basic skills they need to make a really strong contribution to the labour market. that partly reflects the fact that a lot of

their teachers were themselves and educated because they were trained underapartheid. educated because they were trained under apartheid. dealing with that kind of thing, absolutely, it takes years to turn around. can i ask you about the eurozone? it has been more buoyant than previously, is that going to continue? the outlook is pretty good, we saw the economy growing a respectable 0.6% in the final quarter of the year. every individual economy in the eurozone we have had so far, the breakdown is not compete so far, but every economy was in positive territory. i think there is cause for moderate optimism. but there are weaknesses in the eurozone, let's not get carried away! good to see you. today is the first day of the lunar new year — it's the biggest holiday celebrated in countries like china, vietnam, south korea, and singapore. and with the new year comes a new chinese zodiac — the year of the dog. will it be the investor's best friend? our reporter leisha santorelli met with chinese astrologerjoey yap to get his predictions.

we are doing this interview in a special place, singapore's biggest dog resort. that is because we want to get your predictions for the chinese year of the dog. there are many types, some are like this, docile, happy and friendly. there are dogs that are fierce and noisy. this one is fierce and noisy, right? you might get some volatility, a lot of challenges, a lot of fights, just like how an aggressive dog would be. in the last few weeks we have seen extreme volatility in the stock market. can we expect that to continue? at least for the first half of the year. for the global economy, what is the outlook? in the year of the dog, the strongest element is wood, so those related industries will be the strong as

headlines, agriculture, education, palm oil and coffee, they are all related to wood. the second element is fire, so that as technology, oil and gas, and we are seeing a return on that now. that is the peak of fire energy. that was joey yap on the year of the dog. that was joey yap on the year of the dog- happy that was joey yap on the year of the dog. happy chinese new year! we're going to look at some of the tweets coming in with regard to coke, if it is good for you or bad for you, if you are drinking less. we gave them a bit of a hammering. adam says coke zero four may, with lime, it tricks me into thinking it has sugar, but i don't read that often. another, i have not had fizzy drinks for about ten years. water, coffee or alcohol. perhaps not the

healthiest, but there you go! alcohol with fresh fruit juice seems to justify it. i think the one that caught my eye is only tonic in a gin and tonic. lynne said she stops flu stopped smoking and is now addicted to coca—cola. nicholas says tap water, black coffee and black tea. where is the joy in that? we should have alan haselhurst. he is a coca—cola nut. have alan haselhurst. he is a coca-cola nut. let's look at some of these stories. the household sprays, a p pa re ntly these stories. the household sprays, apparently that is as bad as air pollution? startling story, very interesting. in la, apparently polluta nts interesting. in la, apparently pollutants from household product is a greater source pollutants from household product is a greater source of pollution than ca rs. 42% of

a greater source of pollution than cars. 42% of emissions are coming from household products, sprays, perfume is and the like. the interesting facet of the story is that it interesting facet of the story is thatitis interesting facet of the story is that it is bringing more awareness that it is bringing more awareness that the things we buy have a significant impact on the environment, like water bottles. pa rt environment, like water bottles. part of it is that there is a good news element, that emissions from petrol and diesel, the improvement is so significant that it is bringing it on a park, in terms of these particular emissions. but what struck me is that this includes shampoo, products you just think are clea n shampoo, products you just think are clean and good for you. if we are currently take it seriously we have to have a fundamental rethink? these chemicals are designed to evaporate, we do not see them. they are designed to go into the environment. there are some businesses thatjust cannot‘s i mean, hotels, the turnaround is they have four rooms, they have no choice but to ask staff to use these sprays, bleach,

chemicals. that might be a marginal case, but everyday household products we can move to environmentally friendly versions. this one is on the bbc news business page, £10,000 for everyone. sounds great? anyone under 55, reports suggesting if they introduce this new universal wage to deal with the threat tojobs, from new universal wage to deal with the threat to jobs, from automation? automation is an interesting angle. it is for over 55s, the idea of a basic income is attractive to economists. how it would be funded is quite difficult. looking at the norway model, they have a lot of oil receipts, very different from here. attractive for commerce, difficult to abhorrent. and they have a small population to deal with, which helps, the norwegians. have a lovely weekend. and a great weekend to you as well. we will be back soon. goodbye. hello. good morning. just like

yesterday, for many of us, today is going to be a dry day with lots of sunshine. still some showers affecting the far north—west of the uk, furtherand affecting the far north—west of the uk, further and fewer between than yesterday. for most of us, dry and sunny. you can yesterday. for most of us, dry and sunny. you can see yesterday. for most of us, dry and sunny. you can see clear spells through the night, the bright lights of the uk through the night. this cloud towards the west is the weather that is going to come in through tonight and tomorrow morning. in the meantime, enjoying sunshine across england and wales, the cloud perhaps becoming a bit thicker across northern ireland and scotland. that is where you will have some of those showers turning to snow over the higher ground. temperature wise, even in northern areas, a few degrees higher than yesterday, seven or 9 degrees further south, as temperatures and just about getting into double figures. through this evening and tonight, that cloud across the west will gradually move eastwards. it will gradually move eastwards. it will bring some rain, and a spell of

snow on the higher grounds of scotland, through the lake district, into the early hours of saturday morning, even snowdonia could see snow. down towards the south—east, clearer skies, there will be a frost. going into the weekend, we have a cloudy zone moving eastwards for most of us. dry, sunshine at times. the cloudy day will be on sunday. quite mild. this is saturday. that area of cloud will continue to move eastwards. by the afternoon it breaks up quite nicely. showers dotted along that line of cloud. for most it is dry and right into the afternoon, with sunny spells. temperatures are getting up to about seven or 9 degrees. just into double figures across the south. for saturday night and into sunday, things are still relatively quiet. we have a weather system that is slowly moving its way in. that is going to introduce more cloud during sunday. a cloudy day. some rain

coming to northern ireland and north—west england, wales and the south—west. the further east you are, towards scotland, largely dry on sunday. lots of cloud, but temperatures are eight, 11 or 12 celsius, certainly temperatures coming up by a few degrees. as we go into next week, with milder air moving in from the south—west, in between these two weather systems, this is a warm sector. those temperatures are set to rise just that little bit further as we go into next week. more details can be found on the website. that is all from me. goodbye. hello, it's friday, it's 9 o'clock, i'm victoria derbyshire, welcome to the programme. the top story today, dozens more complaints have been made against the former football coach temp max complaints have been made against the former for bennell. ch temp max complaints have been made against the formerfoi bennell. it temp max

complaints have been made against the former for bennell. it was p max complaints have been made against the former for bennell. it was this ax one. —— barry bennell. it was this ‘which prompted one. —— barry bennell. it was this ‘ which prompted so one. —— barry bennell. it was this ‘which prompted so many u:i%;3—;’u%?§ zzéiéiiié 0-2.gct7- :, ':: . . ... to £151,162? 33,215.51 q,;,c1,- 1, '1: , , ,.. to come £111,162? 33,215.51 q,;,c1,- 1, '1: , , ,.. to come forward. my career others to come forward. my career has been ruined, relationships have been ruined, ijust... i had to get it out there. today three of those players are back with us — and they're joined by another man who will tell us he was abused by barry bennell on the pitch at man city's old ground, maine road. this morning in an exclusive interview — a former board member at crewe, hamilton smith, tells us he warned