hello, this is business live on the bbc. the blocking of the deal, president trump says no to a huge us tech takeover. that is our top story on tuesday, the 13th of march. computer chips are in most of our smartphones and the us is worried that the $140 million deal would have harmed its national security. also coming up in the programme, a un report leaked to the bbc alleges that north korea is believed to be evading international sanctions by using asian companies. as ever, we keep a check on the markets, let's have a look across europe. in london, invest —— investors waiting to see the spring budget. and from the farm to your fridge, we

will hear how one food box for can get your dinner ingredients to you in 24 hours and what difference it makes the house of britain but my biggest sporting stars behind the brand. also, we would like to know about you today, goldman sachs‘ most likely nest box is more than one string to his bow, he is also known asa dj, string to his bow, he is also known as a dj, so what do you moonlight as? get in touch and use hashtag. a very warm welcome to business live. yes, let us know what yourjob on the site would be. a tie—up between qualcomm and brought come would be the biggest of the technology sector has ever seen. but the company whose chips are most of oui’ the company whose chips are most of our smartphones has been told no by donald trump. he said it threatens

to impair us national security. singapore —based broad, wanted to pay something like $142 billion or qualcomm, which is one of the leaders in the race to develop five g technology. but in a statement, programme says it strongly disagrees with president trump is my reasoning. if you want to know what the investment think... it taken nearly $4 billion of the company‘s values. qualcomm‘s importance is underlined by the sheer number of its chips. more than a billion iphones and android handsets are powered by them. we have got andrew walker with us, pa rt we have got andrew walker with us, part of our team in the business unit, one of economics correspondence. unit, one of economics correspondence. you have been looking at the detail, fill us in on a bit more. the order president trump has signed its pretty straightforward. the proposed

ta keover of straightforward. the proposed takeover of qualcomm by there is prohibited. so is any substantially equivalent transaction. the results ofan equivalent transaction. the results of an instruction that the purchaser, broadcom, shall immediately abandoned the proposed takeover. one additional point is that the order also bans 15 individuals who broadcom were seeking to get onto the board of qualcomm, they are banned from being candidates, oualcomm is banned from accepting them as candidates to the board. these are the people broadcom hoped would get onto the board and produce a board that is more favourably disposed to this proposed takeover. and a pretty swift manoeuvre on the part of the white house to block all of this. when they say national security concerns, what are they? well, it's quite striking. it‘s mainly about research and development. they fear that because of the nature of the deal,

partly because they say it would be a private equity style deal, with $100 billion of debt financing, they think that would restrain the capacity to invest in new technology. they are particularly concerned about five g wireless technology, they think that oualcomm will have a central role in developing that in the future, and ina developing that in the future, and in a report, an interim report, not an president trump‘s order but done by the committee on foreign investment, they were concerned that anything restraining oualcomm might create space for china to get a stronger position in the development ofa stronger position in the development of a wireless technology that will be very important for national security in the future. some important to have us control on the development of the technology. interesting, and you very much indeed, andrew walker. there is a lot more detail on our website so do ta ke lot more detail on our website so do take a look as and when you have a moment. let‘s take a look at some of the other stories making the news. apple is buying the magazine app

subscription service texture for an undisclosed amount. texture offers us—based users unlimited access to more than 200 titles for a monthly fee of $9.99. it is currently owned by next issue media, which is backed by magazine publishers including conde nast, hearst and time. germany‘s eon says it will cut up to 5,000 jobs as part of a deal to take over innogy — a move that will shake up germany‘s energy sector. the deal values innogy at $27 billion and will leave eon focused on regulated energy networks and retail customers across europe. these are the images of a flying car, backed by google founder larry page, that‘s been secretly tested in new zealand. the creators of cora, kitty hawk, hope it will become an airborne taxi service in years to come. that would be great in london!m

would be great anywhere. the bbc has seen a leaked draft of a united nations report which accuses two singapore companies of violating sanctions against north korea. if the claims are proven, this potentially raises questions aboutjust how common and widespread this practice is in the rest of asia. the final report, which has been submitted to the un security council, is expected to be published later this week. both companies deny any wrongdoing. our asia business correspondent karishma vaswani has been looking into this and joins us from singapore. so, just fill us in on the details. well, the bleached un draft report that i‘ve seen alleges that the two singapore —based firms supplied a range of luxury goods to north korea including wines and spirits, and thatis including wines and spirits, and that is until as recently asjuly including wines and spirits, and that is until as recently as july 20 17th and stop the draft report also claims that these companies received

funds in singapore for doing business in north korea. under un sanctions, it has been illegal to sell luxury items to north korea since 2006 and in fact sales of these items have been banned for several years. the singaporean companies deny or on doing but the d raft companies deny or on doing but the draft also alleges the two companies had long—standing close ties, including ownership ties with a north korean bank. that was put on a us sanctions list in 2017. the singaporean companies have said they had no interest in the bank and have been speaking to their lawyer he has confirmed to me that the companies are under investigation by singapore authorities but insists they do not have any current financial links, interests or any sort of relationship with north korea. i‘ve beenin relationship with north korea. i‘ve been in contact with singapore‘s ministry of foreign affairs, it has told me it is aware of these cases

and has said that where there is credible information of offences committed on —— under singapore law, authorities have undertaken investigations. and does the draft report say anything about how widespread this is? yes, it certainly does suggest that this might bea certainly does suggest that this might be a potential problem in the future, if indeed the claims in the d raft future, if indeed the claims in the draft report are proven. i‘ve been speaking to north korea watchers, if you will, but these alleged cases and what else has been alleged in the draft report. william newcomb, a former member of the un panel of experts, has told me that north korea often uses these complex ownership structures as a way to evade sanctions. that means that potentially if the contents of this lea ked potentially if the contents of this leaked draft report are proven, this could be happening all over the world, not just could be happening all over the world, notjust allegedly here in asia, as this draft report suggests. in the leaked draft report, the un points out it is the responsibility of member countries to make sure

they properly investigate who is opening bank accounts, the monetary authority in singapore has told us that it would take stern action against any financial institution in breach of sanctions. 0k, against any financial institution in breach of sanctions. ok, thanks very much for that. let‘s ta ke let‘s take a look at the markets. asian investors moved cautiously tuesday as the recent global rally sputtered, while trade tensions returned and markets look ahead to the release of crucial us inflation data. a strong jobs report on friday and donald trump‘s decision to meet kimjong un helped fuel a surge in global equities at the end of last week, overshadowing us tariffs and fears of a trade war. the dow and s&p 500 each fell, though the nasdaq ticked up to another record high. europe‘s main stock markets steadied at the start of trading on tuesday, as investors in london awaited a spring uk budget update from the government. and kim gittleson has the details about what‘s ahead

on wall street today. villa on tuesday, all eyes will be on the latest —based data from the united states. most analysts expect the overall rise in prices in the uk leisure in the us to have muted as increasing by supposing met in january. the key reason investors are paying such close attention to inflation data is that it offers a crucial insight into what the federal reserve might do during its next meeting in a week‘s. the consensus is that the us central bank will continue its process of slowly raising interest rates. but a surprisingly high inflation figure could increase the possibility that these rate rises will happen faster than expected. that would put pressure on the profitability of some us companies who have got pretty used to be able to be —— to borrow cheaply to fund their operations. jeremy cook is chief economist at world first. good morning, lovely to see you.

you‘re also going to watch that very closely, i would you‘re also going to watch that very closely, iwould imagine you‘re also going to watch that very closely, i would imagine anyone in financial markets today is watched that report. it is properly the most important report we have this week, to be honest. a big addition to the jobs market, 313,000 jobs, but which is still remaining quite damp. the markets wanted to hear that, didn‘t they, weirdly? we wanted to see a little bit of wage crashes, because that continues the narrative we have at the moment, but obviously equity markets will run high if they believe the federal reserve will not believe the federal reserve will not be in raising interest rates any time soon. so you have to watch out until this afternoon. jeremy, the spring budget update from the uk government, it has become such a small thing, do you think investors will pay any attention? a little

bit, because we are still doing brexit in the uk, there may be some updates around the deficit and growth, but the signals from the treasury have been no new taxes, no new spending, that will come in the budget. everything will be coming around the edges. and there is a brexit figure? the office of budget responsibility will release later today what they estimate the uk will pay as part of its brexit settlement. it‘s meant to be around 35 to 39 billion, but those estimates are from 25 to 37 billion. jeremy will return later. there is a lot to watch out for today. still to come: farm—to—fork. it‘s the new mantra for improving the nation‘s diet and tackling obesity. so can the small and lean independent suppliers beat the big bloated supermarkets in the healthy food revolution? you‘re with business live from bbc news.

chancellor philip hammond will be unveiling his spring statement later today. the government has played down any suggestion this will be a mini budget, but there will be a few changes announced. sarah hewin, chief europe economist at standard chartered is here to tell us what we can expect. what will you be watching out for? well, three things. we are looking out for the chancellor, what he says about the economy, we are likely to see a slightly up for its revision to the economic forecasts for this year we will be looking out for what it says about public finances as well, revenues have done better than

expected, the borrowing requirement is likely to come in a bit less than expected, so i‘m sure that philip hammond will be trumpeting that in the spring statement. thirdly, we are looking for some comments, some consultations about various tax proposals, for example addressing vat for small businesses, potentially a levy on plastics, possibly addressing inheritance taxation. but of course, this is going to be a very short statement, we will not see any particular details for spending and tax, that will be left until the main budget, which happens in the autumn. just briefly, what do you think about the opposition view, notjust from the labour party but from other quarters, that as things have improved, it snowed time to try and spend and help the public sector? he

will come under pressure to do that? it will come under pressure. there has been a squeeze on public pay which should be eased slightly but for many people the fact that inflation is somewhere above earnings and welfare payments means that there is a real squeeze on spending. he is under a lot of pressure to boost spending. his argument is that with debt to gdp at over 84% then it is now not the time to do that. thank you very much. we will be right across that budget statement, the spring statement, it is not a budget! it is not a budget! iam is not a budget! it is not a budget! i am sorry. the spring statement. it will be live here on the bbc news channel. you can get updates on the bbc news live page, bbc business live page, including details on crunch time for crisp packets with a possible new litter levy and you can read all about that and how it might

cost the —— affect the cost of your snack. you‘re watching business live. our top story: donald trump has blocked a huge tech takeover on the grounds of national security. the singapore —based company broadcom had wanted to buy the computer chip maker qualcomm for $142 billion and it is not just maker qualcomm for $142 billion and it is notjust because they have very similar names! there is a lot more to it. yes, they make a lot of chips in smartphones. this is the picture of the markets. and now let‘s get the inside track on a trend we all need to take heed of, healthy eating. governments around the world are being forced to act on the huge problem of obesity and diets loaded with sugar, salt and processed food. supermarkets are gradually taking note,

but the farm—to—fork movement is being driven by small independent names. mindful chef, set up by three school chums in 2015, is one of those. it‘s shipped over half a million healthy recipe food boxes from small farms in devon and has the england rugby, hockey and rowing teams as customers. giles humphries is the co—founder. welcome to the programme. thank you for coming in. we have a sort of an example of what might arrive in a food box. there is a recipe card which tells you how to cook and everything is measured out, all the precise ingredients. exactly. you get a recipe card, offering customers will have two or three in a box, most popular in cities is three and then with the recipe cards to match them you have all these ingredients. everything is measured

out in all of these bits of packaging. per precise quantities so it makes cooking at home super simple and very easy. but we think this is very expensive to produce when we all have a pot of this in our cupboard. it is logistically challenging from a business point of view but we have proved in three yea rs view but we have proved in three years that we can get up to scale quickly and we are doing 150,000 ingredients to our warehouse every single week and we only have a team of ten but a lot of customers do not have these things at home so while some might have the staples a lot of people don‘t say this is just making healthy eating easy for people and putting this on the plate. they might be busy at work but they come home and it is

there and ready to go and super simple. it is a very popular idea that caters to the busy lifestyle that caters to the busy lifestyle that people have but it is increasingly crowded and lots of companies are doing similar things so how does your standout?m so how does your standout? it is a very crowded market. it boomed in the states and the uk followed quite quickly. we are the third entrant to the uk market and we basically identified that no one was going after the healthy end and to some extent the premium end of the market. we looked at what other people were doing and decided no one offered something for of refined carbs and sugar and we were there to focus about nutritious and the delicious meals so in our boxes, we do of egan range and we do meet and fish dishes but we will be focusing ona fish dishes but we will be focusing on a placing pasta with nutritious veg. how much does one of these boxes cost? it starts at £4 50 per mealfor one person. and it goes up from there. how did you infiltrate the british sports scene? you supply the british sports scene? you supply the british sports scene? you supply the british rugby team, the england by the british rugby team, the england rugby team, should i say. the hockey tea m rugby team, should i say. the hockey team and rowing and you have victoria pendleton and andy murray

backing new. how did that happen? came about through our offering because we found out these people we re because we found out these people were customers and it came about because we went on the crowdfunding and we wanted to raise £400,000 but we raised £1 million in ten days and we raised £1 million in ten days and we we re we raised £1 million in ten days and we were oversubscribed and out of the woodwork came all of these fans and customers. how will you manage when this kind of thing really takes off? you have been going for three years and you are already seeing a lot of food box going all over the country, but assuming and hoping it really ta kes country, but assuming and hoping it really takes off, there is always an issue with a new company struggling when the demand really kicks in. we do 20,000 meals a week at the moment and technology drives most of it. a large percentage of the money that we raised went into the technology. one platform and a couple of ops quys one platform and a couple of ops guysin one platform and a couple of ops guys in the house lights are packing tea m guys in the house lights are packing team of about 30 and we are in a position to scale very quickly. we have careers who delivered

nationwide and we are in a position now where it is all about growth. we are in the early stages of the markets are customers come to very quickly. are you all big fans of cooking? do you come up with the recipes yourselves? we have a chef now, full—time in—house, who was fantastic but myles, my co—founder, isa fantastic but myles, my co—founder, is a nutritionist and we are constantly developing. we have a test kitchen and we are constantly developing three orfour test kitchen and we are constantly developing three or four recipes every day and we have a bank of 500 online. if you ever needed taste tester you know where to find him! and is volunteering. 24 coming in, it has been really interesting. for many of us the thought of seeing a counsellor or mental health professional can feel intimidating but a start—up in india wants to change how we deal with these issues. we have a report from india. it has been less than a year since this man was laid off from hisjob

in the indian it sector but the experience left him feeling angry and sometimes even depressed. he found it difficult to open up to his family. but he did find some comfort ina family. but he did find some comfort in a chatting app. the difficult thing was not getting to a state where this happened to me so i must be useless and that is why i kept asking these kind of questions, why doi asking these kind of questions, why do i feel like this today? the chat robot behaves like a counsellor, focusing on what users are feeling and how to respond to them. this is what the future of therapy looks like, an interface where people get asked questions and this chat bot will answer. if i type in a question about losing myjob the codes in the softwa re about losing myjob the codes in the software process it and give you options. i would like to help at

first, can i do a quick check about how it is helping you? there are options to say yes or maybe later. the founders say that the chat bot have 200,000 clients who are using this app for free. the company behind it makes money from professional therapists and firms that use the app. we have models where psychiatrist or psychologist used wysa in conjunction with their practice and they pay us. ai counselling is a new field and it was not a consensus on how effective it is. there are many things a real—life therapist can pick up from what you are talking which an online therapist will not be able to pick—up. are you venting out or crying all your feelings, are they sad in the pitch or the tone? figures show that nearly 80 million

indians suffer from depression or anxiety disorders and with the accessibility of mobile phones wysa is confident about serving the market that is very much in need of counselling in the digital age. we are talking about some of the stories. goldman could be a banker who moonlights as a dj, david solomon. he is a dj. his name is not too original but he would take over but it is not entirely clear when, it could be this year or next but in the grand scheme of things he will be one of the most important people on wall street. setting the tone for the bank, if you like, this dj! we have been asking, what would your

job on the side b? thank you for all of your tweets. andrei says, i would bea of your tweets. andrei says, i would be a private pilot, the thought of hopping on a plane and flying myself anywhere. i love the sound of that. luke said he would be a freelance continuity announcer so strictly watch out! i will have nothing but jeremy has an answer. i would really like to own a pub. i had a good discussion the friend a couple of years ago and we were going to buy a pub and call it the better and monkey. what would suit me is to be a childminder because i am always looking after mine and ms will make some money. i fancy myself as a singer on the sound —— side but in a soundproof room. i heard room. iheard him room. i heard him recently and a singing career i heard him recently and a singing career is not for him. thank you for your time. goodbye. good morning. after the atrocious

conditions yesterday across england and were with a lot of heavy rain around things today are much improved. a few showers this morning but for most of us it is dry and there is some good and sunny spells developing. this morning there is sunshine across the western areas of the uk but you can see from a satellite that this area of cloud is continuing to move further east and you will still see the odd shower this morning. the odd shower across scotla nd this morning. the odd shower across scotland as well. it is a dry start today and it stays dry in the afternoon with the sunshine best across the west. a bit of cloud across the west. a bit of cloud across the west. a bit of cloud across the east but it will brighten up across the east but it will brighten up and maximum temperatures get up to nine or ten. this evening and overnight we will have clear spells. it would turn quite chilly in the east with a touch of frost but west mcleod increases and the rain moves

into northern ireland and the west of scotland. the wind is starting to pick up as well and it keeps temperatures at six or 7 degrees. on wednesday the area of cloud towards the west is associated with this area of low pressure. it moves in and notice the isobars are closer together. when for all of us during wednesday with gales around these exposed western and southern areas and the rain continues throughout the day and it makes its way into wealth in the south west but otherwise it will stay dry and there are good spells of sunshine again. pretty mild. the temperatures could reach 15. on thursday the rain will move north and siberia

be drawn in from russia and siberia so through this weekend it will turn significantly colder again and temperatures really dropped down. it will be quite windy with the risk of snow. uncertainty at this stage as to how much and who exactly will see the snow but certainly the indication giving into the weekend is things turning wintry again. that is things turning wintry again. that is it from me. goodbye. hello, it‘s tuesday, it‘s 9 o‘clock, i‘m victoria derbyshire, welcome to the programme. our top story today. moscow is considering its response after theresa may warned it had until midnight tonight to explain its role in the salisbury nerve agent attack or it would face retaliation. should there be no credible response, we will conclude that this action amounts to an unlawful use of force by the russian state against the united kingdom and we will not tolerate such a brazen attempt to murder innocent

civilians on our soil. we‘ll hear growing calls that england should boycott the world cup this summer. keen to hear from you, would you support england withdrawing or is itjust empty gesture politics? also on the programme. police say tackling child exploitation in telford is their number one priority after it‘s been revealed that up to 1,000 girls, some as young as 11, may have been abused in the town over the last 40 years.