hello, this is business live from bbc news with ben thompson and sally bundock. round two — the facebook boss gets ready for another grilling from us politicians after admitting his firm made mistakes over privacy. we're live from london, and that's our top story on wednesday the 11th of april. mark zuckerberg said he'd be open to the "right regulation" — without giving specifics. his performance added $17 billion to the company's market value. also in the programme: praise from president trump over china's market reform pledges. we'll have reaction from asia. and this is how european markets are opening in the session. a bit of a mixed picture. some profit—taking in the last few days and we will expire in all you need to know about those numbers. and aaron heslehurst is with us today too —

he's at the world's biggest airline interior expo in hamburg. aaron? hey! we all know what it feels like to fly today but what about the cabin of the future? this show had it all, everything from the loos to the kitchens to the seat. i will show you how cruising at 35,000 feet is about to change for all of us. feet is about to change for all of us. i hope so! and how do you think mark zuckerberg fared before the us senate? sendin send in your comments. has he convinced you, or do you think he was putting it on a bit? let us no. —— let us know — just use the hashtag bbcbizlive. can you imagine having to sit next to aaron on a long—haul flight? that's all i'm saying! we will be back with him and hamburger little

later. but let's get started because there is a lot in the show today. it's only wednesday, but for mark zuckerberg it must already seem like a very long week. —— we will be back with him in hamburg. the facebook boss is getting ready for another grilling over his company's data abuse scandal. he'll be testifying before the house energy and commerce committee later — yesterday he faced tough questioning by us lawmakers. during his testimony, he admitted his company has a "broader responsibility" than that required by the law. and that the company faces important issues about privacy, safety and democracy. he also said he supported the "right regulation" of social media companies, but didn't give specifics. when pressed on the ethics of selling peoples‘ personal data he said, "there will always be a version of facebook that is free," seeming to leave open the possibility of a paid version of the platform. which wouldn't have adverts and therefore might avoid some of these

problems. but he also talked about the specific threat posed by russia. one of my greatest regret in running the company is that we were slow in identifying the russian information operations in 2016. the nature of these attacks, though, is that, you know, there were people in russia whose job it is to try to exploit our systems and other internet systems and other systems as well, so this is an arms race. that was mark zuckerberg of course. frederike kaltheuner is data programme lead at privacy international, a charity which challenges corporate surveillance. welcome to the programme. what did you make of this performance? out of hearing, not necessarily because the questions were tough but because it isa questions were tough but because it is a very complex issue, and i think the very fact he testified was a testimony to the fact that public outrage works, so he was forced to testify a nd outrage works, so he was forced to testify and we only know about the story because investigative journalists uncovered what actually happened. it is true and important

you mention that point. he said they knew about this in 2015, and yet we are only speaking about it in 2018, which is something i thought was not necessarily touched upon, the fact that facebook has tried very hard to keep this out of the public arena and stop us from knowing about it.|j think so. cambridge analytica was first reported publicly in 2015. the company took actions but as we see 110w company took actions but as we see now they didn't go far enough. what do you make of what he had to say in particular about the use of our private information as in data? you noticed he was very careful about his wording. i think the company has introduced some good steps on security but was notoriously vague when it came to personal information, personal data and privacy. it was interesting to see the terms used, he did not use "personal data", a european term which means something very specific. facebook loves to talk about privacy settings and the controls you have, but the broader issue will go shia

isa but the broader issue will go shia is a lot of users feel they cannot trust companies with their data any more. “ trust companies with their data any more. -- the broader issue here is that a lot of users feel. he referred to the contended that there could be a paid version of this book that would not have these adverts. would that solve the problem? -- facebook could have a paid version. it harbours data to target advertisement and the assumption is that as a fair deal, as their products, and so people hand over data, but i think in reality, people don't understand the vast amount of data facebook accesses. he also spoke about regulation, the fact he is not about regulation, but this is the real issue, isn't it? notjust about facebook but all the other players, google, twitter, etc. what is your take on what he had to say about that? he also referred to regulation changing in europe. facebook is a global company with 2 billion users operating in many

countries with weak laws and protections, so i think whatever they do is standard—setting. initially, after the scandal broke, facebook suggested they might adopt european light privacy settings and data protection worldwide, but it seems the company has backed away from this now. there was no clear statement on implement in that globally. european data protection is not about privacy settings but about the way companies process personal data. all right, frederike, thank you for coming in and giving your take on what zuckerberg had to say. lots of analysis on our website from rory cellan—jones and our other a nalysts. from rory cellan—jones and our other analysts. a lot of you pointing to what you see was quite a robotic performance from mr zuckerberg giving that evidence there, but a lot saying he knows the business inside and out so was able to defend some of the actions, but keep those comments coming in and we will speak about them a little later.

some of the other top business stories from around the world... the european commission has raided the offices of a number of companies involved in sports broadcasting rights. it said it was investigating restrictive business practices. one of the companies targeted, the film and media giant 21st century fox, said it was cooperating. the troubled italian airline, alitalia, says it has received three takeover offers, including one by a consortium led by british low—cost carrier easyjet. lufthansa has also expressed an interest. alitalia's administrators say they will examine the bids over the next few weeks. it's being reported that google is in talks to buy nokia's airplane broadband business. google is keen to reach more users by offering high speed in—flight web services. a deal would provide competition to chicago—based gogo, which currently provides on—board internet connectivity. its shares fell around 4% on the reports. donald trump has taken to twitter again. this time he's praised the chinese leader for what he called his

"kind words" on tariffs. xijinping pledged to open his markets and cut tariffs during a keynote speech to business and political leaders on tuesday. first, leisha sa ntorelli is in singapore. she is following this entire asian business hub. a real war of words going on about these tariffs and whether it would erupt into a full—blown trade war. we seem to be coming back from that brink? president xijinping definitely coming back from that brink? president xi jinping definitely did not fan the flames of that trade war but tried to de—escalated it and thatis but tried to de—escalated it and that is why his speech was given the thumbs up. investors were also assured by president trump's reaction on twitter but today stocks are reaction on twitter but today stocks a re lower reaction on twitter but today stocks are lower in asia because whilst concerns of that trade war have died down they have not gone completely and many analysts believe the dispute between the two site will be a very long protracted affair that will ultimately see china take steps over the next few years to reduce

its economic dependence on america. as you mentioned, president xi mst we re as you mentioned, president xi mst were stepping up the pace of economic reforms, reducing tariffs on car imports as well as opening up financial markets possibly within months —— president xi announced he was stepping up the pace. his speech was stepping up the pace. his speech was scant on details like a timetable, and some pundit said he just made concessions in the speech to avoid a full—blown trade war. this may run on. i know you will stay abreast of it, thank you, leisha santorelli stay abreast of it, thank you, leisha sa ntorelli in stay abreast of it, thank you, leisha santorelli in our asian business hub. let me show you what is happening in the asian markets. shares in tokyo lower on wednesday after some profit taking as investors lock in profits after two days of gains. as leisha was referring to. those gains were driven as fears ease over a us—china trade war. elsewhere, pretty mixed across asia after that optimism over trade offset by weaker than expected inflation data out of china. that is how the dough in the united states closed yesterday. —— that is how the dow in the united states closed yesterday.

in europe, attention on the latest uk industrial and manufacturing production data for february. that doesn't sound very exciting, but... recent data out of france and germany has suggested a slowdown in this area and there is a concern that it could translate across given how uk exports have recently been driven by improvements in economic activity, not only in europe but also around the world. we will touch on that more in just a moment. but let's first had to the usa. kim has the details about what's ahead on wall street today. on wednesday investors will be paying close attention to prices in america, and what the us federal reserve is thinking about doing to combat potentially accelerating inflation. now, the us supermarket price index, which measures the prices of a basket of representative goods, is expected to show us prices are on track to increase by 2.4% in 2018.

now, this is well within the range of what most economists consider healthy for a growing us economy. however, any surprise increase could worry investors. another area of potential investor concern, well, that will come later in the day when the fed releases the minutes from its march rate committee meeting. those minutes will be closely scrutinised for any signs the central bank is closer to increasing rates at a faster pace this year. something that many investors fear. that was kim, part of our team in new york. joining us is russ mould from a] bell. good to see you, russ. quite a lot of talk about today, facebook, but other companies with earnings out, tesco, hearing about the change in management at vw likely to be announced on friday. what are you watching? tesco is the big one from the uk perspective, a major constituent of the ftse 100, the uk perspective, a major constituent of the ftse100, and overall the numbers look pretty respectable. a raised dividend,

profit up, and this is a fantastic combination for shareholders to reassure them that after a terrible two or three years for the company, accounting scandals, poor performance, that it is back on track, and whilst £3.7 million, not a small amount of money, the reception is mixed. probably good for dave lewis expressing further confidence of that, setting out —— achieving what they said today. confidence of that, setting out —— achieving what they said todaylj fli ppa ntly achieving what they said todaylj flippantly said production and manufacturing data is a bit boring, but clearly it is an important part of the economy. put this into context. this market is so interlinked with the fortunes of mainland europe and the uk. the uk export numbers have slowed down because the pound has gone up, this very clear trend post—referendum, pound down, stock market up, but now that payback is going back in the stock market is having second thoughts and the economic data slowing down. looking at the office

for budget responsibility‘s forecast, the gdp predicted per animal over the next five years, not brilliant anyway even when in theory everything is going the right way —— predicted over the next five years. if the pound is going up as will come to did things and we have seen construction slowing down as well again because of doubts with what will happen post—2019 or 2021, whenever this period comes to an end. it will be interesting because it suggests the uk economy is still finding it fairly hard work, if the truth be told. russ will return. we will grill him about iran and other issues. and the uk music industry. two separate stories, to be clear. but back to the future of flying with aaron... yes, looking at the uk entertainment industry, worth $7 billion a year, and we will be

speaking to panasonic. lets get more on that story about tesco. the uk's biggest supermarket chain tesco has announced a 28% jump in annual profits to £1.6 billion, boosted by strong sales of fresh food. however tesco boss dave lewis has warned that market conditions remain challenging, mainly because of rising prices. bryan robertsjoins us — he's from tcc global. good to see you, bryan. give us your ta ke good to see you, bryan. give us your take on what tesco said today? very positive, sales, profits, dividend heading in the right direction. led by fresh food in the uk which is very pleasing for tesco, winning back new shoppers, shoppers coming back new shoppers, shoppers coming back more frequently and much improved metrics in terms of customer satisfaction and availability, but if we look beyond the very rosy picture for the uk and ireland, in asia things are a bit

less positive, so there has been a change in the way they promote products in thailand, and that has really dragged down sales in that particular market. in central and eastern europe, you know, a degree of slowdown there in non—food product in particular and also some very real concerns, attending ban on sunday trading in the key polish market. 0verall, uk and ireland, brilliant, and the rest of the international market is perhaps a bit less positive. and it is quite a reversal, bryan, because that was one of the parts affecting business. but talking about back here, the bigger deal, where are we on that? by bigger deal, where are we on that? by the protracted negotiation to get the deal done. it went through surprisingly few regulations, they are quite tight—lipped about what terms will result or what changes they will be to the booker or the

tesco operations but they say they're moving quickly to create synergies between the two companies. we've seen signs of a mini booker cash and carry unit within one tesco school in cambridge which is trading so school in cambridge which is trading so that might be a harbinger of things to come but not a great deal yet on what the combined businesses might be doing to provide a better service for wholesale and retail customers. bryan, thank you so much. much more on the business life page including a warning on the impact of brexit. that's from the cbi. you're watching business live — our top story. facebook boss mark zuckerberg gets ready for another grilling from us politicians after admitting his firm has made mistakes over privacy on tuesday. it seems like a very long week for

him. a second grilling today. and now let's head to hamburg in germany — where the world's biggest aircraft interior expo is being held. aaron heslehurst is there. aaron what is going on? hey, you say it is the world's biggest, this is 45,000 it is the world's biggest, this is 115,000 square minutes, yesterday i walked four and a half miles around the place! we cover air shows and we look at the outside of the planes and we see them during their performances and we are told they are 20% fuel efficient with new wings. that is all good, this show is even more important for us all flights because this is everything that goes on board a plane, it's here, everything from the lose to the galleys, to the seats, wait until you see the battle

going on for the business class seat, the lie flat seat! if you are an airline and you aren't going flat you are not an airline! part of the aviation industry is the in—flight entertainment industry, we are talking to one of the market leaders panasonic. if you have watched a film on a plane chances are it is panasonic, they are on 300 airlines, 9000 planes are flying with the panasonic system, 2000 of those planes are connected to wi—fi conductivity. that's a really growing market. let's speak to david bartlett, the chief czech officer at panasonic. good to see you. he we've got a couple of your screens. but you are not just got a couple of your screens. but you are notjust providing the screen at panasonic, you provide everything. yes, the power systems, the cabling, the server that delivers the movies, even when you plug in your personal devices. we also device dependent. is that a concern to you guys who make these things because nowadays we are coming on board and watching stuff

on our devices. my kids are watching tv, they've got personal devices going, a lot of people have three devices going at same time. there will always be a place for a nice screen to watch a movie. how far can we go with technology now. it's amazing, it goes up to four k high—definition in first class. some of the technology we can bring is amazing. we can bring a truly cinematic experience. i'm going to cause a job for my cameraman! this screen shows the four k, the newest thing. this is our 55 inch display, city fight to be on an aeroplane, all the safety features that an aeroplane requires so imagine that in yourcabin. aeroplane requires so imagine that in your cabin. are you doing this because you are following the consumer, the consumer at home is putting four k in the living room and if they watch at home they

expect to board a plane and want the same experience? they want the same thing but by branching into a marketplace we can show goods at a level you haven't seen before, imagine looking at a swiss watch or a beautiful designer scarf, marketplace loyalty programmes, we doing loyalty programmes where people can compare their device to the system, may it remembers you, if you're watching content you can continue it on the plane so it will rememberyou. you want continue it on the plane so it will remember you. you want to do that with a screen which is of great quality. say you are on a long haul flight, 350 quality. say you are on a long haul flight, 350 passengers or connected to the wi—fi, any concerns that that could have interference with the front of the plane where they fly it? this is one thing panasonic is good at, creating systems that are safe, the connectivity, we test frequencies often so it doesn't

interfere with cockpit avionics, this is why we are successful. in four years the industry is worth about $7 billion, six if you provide this sort of stuff, it's very competitive. do you have competitors biting at your heels? we are still ina biting at your heels? we are still in a leadership position, i think. we are moving from just entertainment to new outcomes, whether accredited university courses, gaming, marketplace experiences, we are driving new outcomes from the cloud using analytics to really drive what the passenger wants to see. dave bartlett, thank you forjoining us. ben, that is it, i'm going to be sure all day, you guys would love it, it's amazing, like a kid in the candy shop, i will see you soon. aaron, last time i got an

international flight and you could watch bbc news on the plane, like many planes, guess who was on tv when i was there? you poor by camille can't escape me! there is no escape, leiua. ed baird you changed the challenge! i might have done. i'm not even going to get involved, we will leave them to it, in the red corner ben, in the blue—collar aaron. but there's nothing for you at six foot seven, it doesn't matter how good the screen is, if you are tall and of the back of the plane there is nowhere to go. and me with my three little boys, i don't care how good the screen is. good to share. russ is back. let's see what other stories are being talked about on social media. what did you make of it? one senator

tried to give mark zuckerberg a hard time but i got the impression the others did not know what they were talking about. in fairness, mark zuckerberg was contrite, he used the "sorry" word and said they were looking to do better at putting the community first and profit second, i think it's the right to do. stocks in general have been hit by sentiment about possible facebook regulation. mark zuckerberg will need to reassure his users. the stock will only really be in trouble if you numbers fall and people switch off their accounts, i can't speak because i don't have one but i think there is no sign of that yet so think there is no sign of that yet so people are clearly giving him the benefit of the doubt. some people are picking up on that, five minutes per senator is not enough time to let them get some detail and that worked in favour of mark zuckerberg. another viewers says, it was obvious

he was trained to answer specific questions, he was like a robot. another viewers claims that the whole hearing was lost on his evasive manoeuvres. we said we'd talk about the real in iran. the value of the currency has fallen so much that the government is intervening. the realthis much that the government is intervening. the real this time much that the government is intervening. the realthis time by one fifth of the last weeks, in response to fears that the us will begin to reimpose sanctions and undo the nuclear agreement with president barack 0bama. the nuclear agreement with president ba rack 0bama. we've the nuclear agreement with president barack 0bama. we've seen sanctions imposed on russia, nothing to do with syria but you are seeing an knock—on effect in other markets. iran was looking to open up, be welcomed back into the fold, president trump may be looking to do that, and also the oil price which is back on a three—year high amid fears that iran could once more be frozen out of international oil

markets. a lot of wheels within wheels. as far as the iranians economy is concerned how vital is that in the world in terms of exports? incredibly interesting economy, very young population, the vast majority under 30, very technically literate, high spot phone penetration so potentially vibrant if it is let off the leash and foreign investment is welcomed at the moment it's up in the air and this could go into reverse gear if fresh sanctions are imposed. russ, good to have you on the programme and good to have aaron as well. nice to have your company. we will do it all again tomorrow. bye bye. this morning heavy rain will clear

from southern england and south wales, for many of us today mostly dry all the pretty cloudy, misty and murky around the north sea coast and higher ground. some patchy rain primarily across the midlands. as we go through the morning you can see the satellite imagery, a lot of cloud across england and wales, this cloud across england and wales, this cloud over the far north of scotland also clearing away. we will see a lot of dry whether, as i said, but one or two showers across the midlands, maybe east anglia, towards wales, writes guys towards the far south of england and sunny spells towards the north—west of england and scotland, temperatures could reach double figures but down the east of england and eastern scotland and the north sea coasts, and onshore wind will make things disappointingly cool, six or seven, 8 degrees. where you've got those brighter conditions in western and southern areas is where temperatures could reach 1a or 15 degrees. through this evening and tonight

cloudy, misty and murky around the north sea coast, north towards aberdeenshire, a few showers moving through and temperatures down to between five and 7 degrees, a frost free night to take us into thursday. 0n free night to take us into thursday. on thursday, a few showers across the midlands, perhaps into northern england, nothing to heavy or extensive, very isolated, more persistent rain moving into the far north—east of england and eastern scotla nd north—east of england and eastern scotland later. 0ne north—east of england and eastern scotland later. one small bright spells breaking through, it will feel pleasant way you get that sun chan, 1516 celsius, a game that north sea coast disappointingly cool north sea coast disappointingly cool. the forecast on friday brings quite a bit of rain across the finals of england into scotland throughout the day, some bright spells was not breaking through towards southern and western areas although some showers likely for south wales and the south—west.

temperatures similar to today, eight or9 temperatures similar to today, eight or 9 degrees on the coast, where we get sunshine temperatures which the mid—teens. into the weekend, high—pressure towards the east, low pressure towards the west, what it will do is bring in a southerly wind so as we go into the weekend southerly winds drawing up much milder conditions, it will get warmer into the weekend and for many it will be dry with sunny spells with spring finally arriving. bye victoria derbyshire programme next and at 11am bbc newsham level bring you all the top stories. hello, it's wednesday, it's 9 o'clock, i'm victoria derbyshire — welcome to the programme. our top story today: military action over the alleged chemical weapons attack in syria is a step closer after deliberations at the un security council ended in a russian veto. history will record that on this day, russia chose protecting a monster over the lives of the syrian people. we'll bring reaction and hear

from those on the ground in syria. also on the programme — facebook founder mark zuckerberg wearing a suit and tie rather than the t shirt we're more used to seeing him in was grilled by american politicians overnight about the use — or alleged misuse — of personal data. mr zuckerberg, would you be comfortable sharing with us the name of the hotel you stayed in last night?