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he said, "we have a responsibility to protect your data, and if we can't, then we don't deserve to serve you." investors worry that privacy concerns might start to scare users away from facebook or lead to a crackdown by governments. mr zuckerberg's statement boosted its shares slightly. but they are still down almost 9% since the start of the week, wiping more than m5 billion off facebook‘s market value. the way facebook gathers data about us is central to its business model. companies love the way it lets them target advertising at us — the vast majority of what they spend on online marketing goes

to facebook and google. so there is a huge amount at stake. here is our north america technology correspondent, dave lee. the news broke here late on friday night but it was not until basics mark zuckerberg finally found the words to comment on the crisis engulfing the company —— until day six. on facebook, he outlined the timeline of events as he saw it, and he said the company will make some big changes to how apps are handled in the future. with a view to protecting privacy and making it easierfor protecting privacy and making it easier for users protecting privacy and making it easierfor users to protecting privacy and making it easier for users to know when their data was being used. what he did not do, however, was offer an users or his investors or his own staff. he did not offer an explanation as to why the company did not inform the public this had happened when it found out about this several years

ago. it is clear to see that while facebook is admitting a few errors along the way, it is certainly not taking the blame for what has happened. with me is our technology correspondent, rory cellanjones. pa rt part of our team extremely busy covering this story, every twist and turn. dave refers to mark zuckerberg's post on facebook where he sort of apologises... sort of. he talks about the fact in 2015 it came to his attention, facebook‘s attention what was going on with regards to cambridge analytica, why are we only talking about this now in 2018? you have hit the nail on the head, that is what immediately struck me. they knew in 2015 this data had been collected, they were fine with it being collected by the psychologist at cambridge university, they were not fine, they

say, without being shared with cambridge analytica and been used for commercial purposes. they sent a little letter saying, could you please delete that data? do not do it again. then nothing for all those yea rs, it again. then nothing for all those years, all the 50 million people whose data had been shared, they knew nothing. and on friday night, they put out the announcement that cambridge analytica and this researcher had been banned from facebook. the other thing they did on friday will send a legal letter to the observer, planning to publish the story, vaguely threatening legal letter, so that does not suggest they were as concerned as they say now. they said a couple of days ago how devastated they were by the news. their behaviour does not suggest that. we have been asking people to her thoughts on it and whether they are worried about all of this, privacy concerns, and one of this, privacy concerns, and one of the tweets sirs, not worried at all, i will continue to use it,

remains a net benefit to society. i wonder whether facebook has made itself so integral to people's lives that even something of this scale cannot shake it from its perch? that is also a good question. the trouble with this, at an individual level, it does not feel so bad, am i that worried i might be targeted with a particular kind of advert because they know a bit more about my life than i thought? a lot of people will not ever worry about that. yet at a societal level, we have seen how powerful and dangerous it can be in all sorts of areas. a big case recently which facebook itself has expressed horror about, the myanmar government using it to whip up anti—minority feeling. we know about the power on a giant scale, i wonder whether people at an individual scale feel inclined to do much about it. we are told time is gone. i'm being well—behaved, unusually, because i am conscious there is a

lot more to pack into the show. you both on twitter, take a look at their updates. let's take a look at some of the other stories making the news. us media company meredith says it plans to sell its time, sports illustrated, fortune and money brands, citing differences in target audience with its other titles. french media giant vivendi is selling its stake in ubisoft for around $2.5 billion to investors, including chinese tech titan tencent, ending a potential takeover battle for the french video games maker. billionaire vincent bollore's vivendi, which had been raising its holding in ubisoft, has agreed to sell its 27.3% stake in the company. tesla shareholders have approved a $2.6 billion pay deal for boss elon musk — believed to be the biggest share—based deal in us corporate history. mr musk will only get the shares if the electric car—maker hits certain targets,

including sales and share price. that is what you call an incentive pay scheme eggs! pay scheme —— that is what you call an incentive pay scheme —— pay scheme! let's turn to europe now where eu leaders are set to gather on thursday for a summit at which they are expected to approve the terms of a transition deal with the uk after brexit. the eu's donald tusk said on wednesday he had recommended a draft legal text on transition, citizens‘ rights and other withdrawal issues to its members. it followed spanish concerns over how the accord would affect its demands for a say on how brexit affects gibraltar. and then there is the issue of the border between ireland and northern ireland. here with us is simon fraser, former head of the foreign and commonwealth office and now a managing partner at consultancy firm flint global. good to see you. michel barnier and

david davis laid the groundwork earlier this week for today and tomorrow, just tell us how far forward we have come and how significant the next couple of days? an important step forward because it means we have agreement on what the transition phase should be after the uk leaves the eu next march until the end of 2020. for business, that is reassuring because they know what they're operating conditions are but it is not the end of the story because the transition has to be pa rt because the transition has to be part of a full withdrawal treaty which is not yet fully agreed and if thatis which is not yet fully agreed and if that is not agreed, including on things like northern ireland, this transition deal will not go through. it is a step but not the end of the journey. there was talk from one of the committees about they should consider extending the exit process beyond march next year, can you see that happening? i do not think it is likely to happen. the reason it is

important is because even if we get the transition agreement, businesses will not know what will happen at the end of the transition period and the end of the transition period and the negotiation on the long—term future relationship with the eu will be very complicated and take a long time. either the negotiating period 01’ time. either the negotiating period or the transition period itself may need to be extended at some point. might need a transition from the transition period? that could be the case. transition to what? that is not yet known. looking at the transition deal, from your perspective, we had to give up a few things, give and take, is it a good dealfor the things, give and take, is it a good deal for the uk? things, give and take, is it a good dealfor the uk? politically, a good dealfor the uk? politically, a good dealfor the uk? politically, a good deal for the uk to dealfor the uk? politically, a good dealfor the uk to have got it dealfor the uk? politically, a good deal for the uk to have got it but looking at the content, you see the uk has given a lot of ground and the terms of the transition are basically in most areas the terms set out by the eu. what it tells you is that in this negotiation, actually, the balance of power lies

with the eu. simon, thank you very much. we have got our correspondent in brussels updating us throughout the next few days. let's move to washington now where the white house is expected to announce billions of dollars of tariffs on imported chinese goods later today. it would be the latest move by the trump administration to penalise foreign imports after it targeted steel and aluminum with hefty tariffs earlier this month, raising fears of a global trade war. the bbc‘s kim gittleson in washington reports. here is something you will be hearing a lot about in the coming days, section 301, part of the 1974 us trade law that the trump administration will invoke when it levies terrorists against imported chinese goods, possibly as soon as thursday. it states that if a country is deemed to be a threat to us intellectual property, the us can retaliate. most people assume the trump administration will impose ta riffs trump administration will impose tariffs on imports of chinese electronics, toys. these are the

biggest industries that led to the $375 billion trade deficit that the us had with china in 2017. already us had with china in 2017. already us companies in those industries have spoken out against the proposed measures, saying measures, saying there are better ways to deal with the prospect of chinese intellectual property theft. this could complicate matters for president trump as he tries to fix what he has called an unfair trade relationship with china. let's get some reaction to this now. sarah toms is in our asia business hub in singapore. everyone in asia, particular china, listening out for the statement, this memorandum later from listening out for the statement, this memorandum laterfrom the white house? that is right. as you say, eve ryo ne house? that is right. as you say, everyone in asia is on a knife edge waiting to see exactly what chinese products will be hit and how much ta riffs products will be hit and how much tariffs will be. investors, policymakers, they are nervous. no one wants a trade war. even china

has repeatedly said it does not want a trade war but it says it is ready to retaliate if tariffs are imposed and ina to retaliate if tariffs are imposed and in a briefing, chinese commerce ministry said today china will not sit idly by while legitimate rights and interests are hurt. they say it must take all necessary measures to defend its rights. if china were to retaliate, what could it do? china was one of the biggest buyers of us crops and that includes soya beans. one of the things china could do is put a tariff on that or it could get it from other places. thank you. let us it from other places. thank you. let us take a look at the markets... tokyo stocks closed higher on thursday. almost 1% higher. after three straight days of losses, bargain—hunting, offset a stronger yen. that normally pulls the stock market lower as it makes life for exporters harder.

the yen rose against the dollar after the federal reserve lifted interest rates. normally that strengthens the dollar but the us central bank indicated it would stick to a plan for three rises in total this year, rather than the four that some experts had forecast. traders remain nervous about a possible global trade war as it emerged donald trump plans to impose sanctions on china for what he calls its theft of us intellectual property. thank you. joining us is remi olu—pitan, who manages a multi—asset fund at schroder investment management. welcome to the programme. behind me, we have what the latest numbers for the markets in europe. all attention on the first meeting, the federal reserve, give us your take on what he had to say alongside the move of rates upwards? they raised interest rates, i think it was a very positive meeting. he focused on the fa ct positive meeting. he focused on the fact us data is strong. inflation is 0k. the

fact us data is strong. inflation is ok. the passes for gradual rate rises. there was nothing that put the fear into financial markets from the fear into financial markets from the point of view of what he was saying? he reassured financial markets. steady pair of hands. looking ahead to the uk. are you in, by the way? the squeaky was the chair! we will be looking at the decision by the bank of england on interest rates later, generally, people not expecting a rate rise before may. generally nothing before may that a rate rise this year. and give us your interpretation on all the data we have had this week? inflation is going down and we have the employment number going up and wage growth not doing much at all? give us growth not doing much at all? give us your take on what that means. the data is quite peculiar in the uk. inflation is higher than everywhere else in g7. unemployment, the

employment data is a little bit soft. wages are still quite stubbornly high. it is a mixed bag right now in the uk. the growth data isn't that great. we do expect the bank of england to raise interest rates. that is what they have confirmed that they will do last month. i think that is because they are month. i think that is because they a re really month. i think that is because they are really focused on inflation. although it disappointed yesterday, it is still quite high. remi, thank you for now. she will be back. we have got lots to get our teeth into in terms of the stories in the press. still to come... it's being called the airb&b for left luggage. we get the inside track on an app for travellers who want to drop their bags somewhere safe as soon as they reach their destination. you're with business live from bbc news. as we've been hearing, advertisers love facebook for the data it gathers — but some of the big advertisers say they may steer away from the social media site —

if it doesn't clean up its act. earlier i asked david kershaw, the chief executive of advertising agency m&c saatchi, to find out how likely this might be. i think they're real. make no mistake, facebook is an amazing medium from the advertiser's point of view, because of the accuracy of its targeting which comes from data. but i think those large companies and now very nervous to be associated with a medium where the data is being abused, particularly in a political context. i think isba, the british federation of all the major advertisers, for them to make a statement like this, i don't think it's a bluff, there will be worldwide pressure from the client community for the likes of facebook and others, to start self policing much harder and to be frank, if they don't self police, then a call for more external regulation. there has been a value exchange between consumers and the social media companies which says, i get all this free content and news, and i will be able to communicate with all my friends etc, and in return, i'm going to let you have my data. and that has worked well.

from both points of view. but in the new environment, that consumer has to know much more consciously what data is being given, and being given the option not to release that data. it is a call for a much more transparent world, in the commercial context. people welcome being given advertising which is relevant to them and that happens because of the data, but i think in a political context, where people are being segmented into little areas, because you know what their attitudes are, and are being served with different ads from what their next—door neighbour might be served with, i think that starts to become very uncomfortable. it is very different from the days when you would put up a poster that the whole world would see. i think it is a call for transparency and clarity which is clearly not the case. we're in a very opaque world and opaqueness in a political context starts to become very worrying. that was david kershaw, the chief

executive of the ad agency m&c saatchi. there are lots of stories on the website. french strikes will hit trains. thousands of workers will walk out in protest against president macron‘s reforms. you can read all about it on the business live website. you're watching business live. our top story: facebook founder mark zuckerberg admits the social network "made mistakes" that led to millions of facebook users having their data exploited by a political consultancy. a quick look at how markets are faring. this is the picture across the main european indices at the start of the trading day. all of them down by about a quarter of a percentage point and .4%. that is the pound

against the dollar. and now, for all those travellers out there, do you ever arrive in a city, and want to go exploring, but you don't know what to do with your luggage? yes. you are that person! well, a group of university graduates has come up with a solution. london—based app stasher is creating what it calls an "aianb for luggage" — a network of bricks and mortar businesses that will store your luggage for you. the firm has over 200 locations across europe that will store your things, while you head off and explore a city. present in the uk, as well as in paris, amsterdam and berlin, they have recently secured funding to launch in five more countries this year and is set to begin hosting trials with some major budget hotel chains. with me is jacob wedderburn—day, chief executive officer and co—founder of citystasher. is that correct or is itjust stasher? just stasher. we will get

rid of the city bit. you look so young! all of us in the green room we re young! all of us in the green room were saying, oh my gosh, we feel old. it is another entrepreneur in his early 20s. am i right? we founded this when i was 22, i am 24 110w. founded this when i was 22, i am 24 now. we founded this fresh out of university. where did the idea come from? stasher lets you book luggage storage in cities in shops and hotels. you travel somewhere where you are due to check in later or you have checked out and your flight is not until much later in the day but you need to drop your stuff. was there a specific moment where you thought this needs to be done? where you on holiday? it happened in london. one of my co—founders lived near kings cross and he had requests to drop stuff all the time. we had just left uni and we said mate, can we leave stuff

with you? we thought this must be a problem followed the people. storage in cities is a problem and the only solution was the left luggage at stations and they were really expensive. we came in at half the price and got it up and running. you make it sound easy. you are university graduates, how did you get the funding? it was quite lucky really. we contacted the ceo of big yellow storage and we said we have had this idea and he loved it. and asked him for money presumably? initially we just asked him for advice. we quizzed him and he said, write me a proper business plan and come back to me. we did and he loved it. he put some money in then and that gave us the runway to do it full—time, just the three of us. that really took off. but went

exponential so we had to hire people much faster than planned because we could not cope with the volume. much faster than planned because we could not cope with the volumem works well and it works on mobile devices, who did that skill? did you have to get a company to do that for you? the basic website week set up ourselves in—house. we had a technical co—founder, my background is in economics and another one had a background in marketing. is in economics and another one had a background in marketinglj is in economics and another one had a background in marketing. i know when i have used left luggage they scan it to make sure there is nothing harmful. how can you guarantee that for someone's home quite we took the same model that hotels are doing. hotels store your bags and they have been doing it for ages. we take the same customer details that hotels collect for their own guests. we can fraud check cards when people make bookings. we ensure every bag is safe so from a

customer point of view it is released safe. jacob, thank you. we have run out of time, yet again. thank you for coming in. here is how to get in touch. keep up—to—date on the bbc‘s business live page. there is insight and analysis from our tea m is insight and analysis from our team of editors right around the globe. we want to hear from you as well. get involved on the business live web page. you can find us on twitter and facebook. what you need to know when you need to know. joining us again is remi olu—pitan, multi—asset fund manager at schroders. chris cork says do you seriously think privacy settings make a scrap of difference to the determined data

harvester? kerry says i am not worried at all, my facebook is so boring, it isjust worried at all, my facebook is so boring, it is just pictures of cats! business insider looks at the top 15 airports in the world. we noticed it is dominated by asian airports. yes, singapore airport wins. asian airports have a lot of facilities. they have cinemas in there, for goodness' sake. heathrow came in eighth place. that is pretty good. goodness' sake. heathrow came in eighth place. that is pretty goodlj was surprised. i go in and out of heathrow fairly regularly. they have revamped terminal two and terminal five. they have revamped terminal two and terminalfive. when it all works, it isa terminalfive. when it all works, it is a pleasant experience but having gone through singapore recently, i can see the appeal. it is very different! it is really good to see you, thank you. another packed show, we will see you again tomorrow. that's it from business live today. goodbye.

hello. at benson in oxfordshire we got down to minus five celsius yesterday morning. this morning is much milder. wildly across the uk the temperatures are above freezing. the reason for that is purely because we have a south—westerly wind coming in from the atlantic. you can see by the oranges across the uk, much milder conditions. we start off with a fair amount of cloud but there will be some bright and sunny spells. particularly across eastern areas of england. we have some or cloud and rain across northern ireland into the west of scotla nd northern ireland into the west of scotland as well. temperatures at nine or 10 degrees. in the east we have the best of the brightness. through this evening and overnight, this area of rain will push its weight used with. —— push its way eastwards. heavy rain into friday

morning. patchy rain further south and again, a frost free night. for friday, a bit patchy rain across southern areas. there will be showers across northern parts of england. saw some heavy rain and wet weather at times. it could turn a little bit wintry across higher ground. it will be cooler here tomorrow. temperatures up at seven 01’ tomorrow. temperatures up at seven or8 tomorrow. temperatures up at seven or 8 degrees. further southwards with some sunshine, temperatures 12 01’ with some sunshine, temperatures 12 or 13. some rain coming into the isles of scilly, cornwall and devon. it will skirt down into france as we go into saturday. for many of us, it is looking largely dry. some showers into scotland, perhaps into northern england as well. the showers could be on the wintry side across higher ground. so showers across the far south—east of england. it is a drier day on saturday. maximum temperature

is around ten or 11 degrees. by sunday, there should be plenty of fine weather again. more showers across the north and west. the showers could turn wintry across higher ground. some sunshine across the south and temperatures about nine, 10 celsius in the north that up nine, 10 celsius in the north that up to 12 or 13 degrees further south. have a good day, bye—bye. hello, it's thursday, it's 9am, i'm victoria derbyshire. welcome to the programme. waiting days for a response to a 999 call — a new report says a quarter of forces in england and wales are often overwhelmed by demand. we are seeing calls being delayed for hours and on occasion days and i'm sad to say

the report says victims of domestic abuse are some of those being left waiting too long for a response. we'll be talking to the charity women's aid. eu leaders must remain united against a threat from russia — that's what theresa may will tell them when she travels to a european council summit in brussels today.