this is business live from bbc news with maryam moshiri and jamie robertson. rebooting nafta. mexico, canada and the us battle to save their trillion dollar trade pact — amid president trump's threats to pull the plug. live from london, that's our top story on friday 20th april. president trump says that nafta is putting usjobs in danger — we'll run you through the numbers. also in the programme... trouble at the top! the head of australia's biggest wealth management company stands down as part of a growing scandal. and we'll have the latest from the markets. the european markets are struggling to find direction after big falls in asia. and we'll be getting the inside

track on facebook‘s return to facial recognition in europe. our tech guru rory—cellan jones will be here to give us a round—up of all of the biggest stories of the week. as senator tammy duckworth made history by bringing her 10—day—old baby to the senate floor, we ask whether babies should be allowed in the workplace? would it make your life easier if your baby or child could come into the office? join the conversation. just use the hashtag bbcbizlive. hello and welcome to business live. we start in washington — where ministers from the us, canada and mexico are in talks to try and save the vast north america free trade agreement — or nafta — amid threats by president trump to pull out. he says it has cost the us millions ofjobs and wants it shaken up. is he right? let's take a look at the numbers. nafta was signed almost

a quarter of a century ago — it now accounts for 1.2 trillion dollars of trade a year — making it one of the world's biggest free trade deals. but has it killed us jobs as president trump has complained? well — not according to official unemployment figures. in the us they are at a 17—year low — far lower than canada's. mexico's are only lower because so many people leave the country to find work. the bbc‘s kim gittleson has been speaking to mexico's finance minster — who's in washington for the talks. he told her nafta is vitalfor both sides when we think of trade, we tend to think of goods which can only go one way. the truth of the matter is, we have supply chains where cars, car parts go back and forth between the borders many times over. the supply chains would be disrupted for both sides orfor all sides. so clearly,

it is something that we want to continue to do towards the future, because it has worked well for the country. and again i emphasise the part, for our partners as well. professor david collins is an international trade expert at city, university of london. let's just try and work out where we are in these negotiations, because we have a looming will stop yes, it has to be done by the beginning of may. from what we understand, the nafta negotiations are probably nearly complete. what do we think has been done? i imagine the stuff that has not been in the original agreement. the stuff on e—commerce has probably been resolved and the really easy stuff like tariffs. that is my guess. we don't actually know because the government have not been revealing any of the details. that is low hanging fruit, when it was

signed 25 years ago we did not have e—commerce and all those things have to be put into place? yes, nafta had to be put into place? yes, nafta had to be put into place? yes, nafta had to be updated. it is a great opportunity that trump said nafta had to be destroyed so it could be read or in the form we need it. —— reborn. and there was another opportunity to put in what the us would have done in the tpp into nafta. let's talk about the sticking point. this is all about rules origin. this is the issue. rules of origin. this is the issue. rules of origin speaks of the percentage of content which has to come from within the nafta zone. if i am an american making a car i have to say this car comes from the us, 70% or something which is quite difficult to prove? or from mexico or canada. they want to raise the threshold is and this makes it harderfor the

three parties to source materials from outside the nafta area for the input into cars. mexico and canada have somewhat resisted that. input into cars. mexico and canada have somewhat resisted thatm input into cars. mexico and canada have somewhat resisted that. if that america is getting carburettors from career or the wheels from somewhere else, it does not count as an american car —— korea? else, it does not count as an american car -- korea? exactly. there are many disputes of nafta. there are many disputes of nafta. the big controversy is chapter 19. this is the trade remedy chapter. canada wants to keep this. this is where they can challenge measures imposed by one of the governments. canada has used it extensively in the past successfully against the us, insists it is kept in the new agreement, the us wants to get rid of it. the other one is when companies want to challenge how they are being treated by one of the governments? exactly. this is the

famous investor state dispute settlement. it is incredibly controversial. it was controversial in the tip which is why that did not go ahead. it can bind hands of governments. at country can challenge and this basically means excessive regulation and excessive interference. a company gets a direct route against the government into one of the international arbitration tribunal is, not a domestic court, and a lot of people don't like that. now the word on the street is it will be emitted. fascinating. we will have to leave it there. thank you, david collins. let's take a look at some of the other stories making the news. the chief executive of one of britian‘s biggest banks, barclays, is likely to have to pay a fine for trying to uncover the identity of a whistle—blower. regulators sayjes staley‘s conduct was a breach of individual conduct rules. he could lose his annual bonus.

the barclays board say they continue to have unanimous confidence in his ability to run the bank. the chinese mobile phone and telecoms equipment maker zte has said us restrictions on it are unfair and threaten the survival of the company. zte is owned by the chinese government and the us considers it a security threat. zte says its also looking at its legal options. a study of english premier league finances has revealed that players‘ wages were held in check last season, despite football clubs posting record profits. the analysis — carried out by the consultancy firm deloitte — shows the league made a collective pre—tax profit of half a billion pounds, that's around $700m. international tv rights have helped offset a lack of growth in the domestic deals. the head of australia's largest wealth manager has resigned after the company admitted lying to regulators for more than a decade. amp chief executive craig meller has quit amid a public inquiry into misconduct in the industry. our correspondent in sydney — hywel griffith — has been following the story.

this comes at the end of a terrible week for australia's financial sector, which is a hugely profitable industry in australia and massive worldwide. it is the subject of a year—long enquiry into misconduct, and craig meller‘s resignation is the latest step. he resigned after it was revealed that amp had been charging people for advice it never received. the commonwealth bank admitted it had been charging deceased customers for financial advice they clearly could not get so the news gets worse and worse for the news gets worse and worse for the banking sector. customers are fed up and now the government is a bit fed up as well. it has announced

new sanctions for bankers and corporations found guilty of misconduct. that would include a jail sentence of ten years for individual bankers or 10% of the turnover of an organisation. it would take some way to win back the trust of australia's banking customers. they are adamant that there are more people who need to be brought to book in this situation. let's ta ke let's take a look at how the stock markets are doing. asian stocks fell on friday after a warning about smartphone demand from the world's largest contract chip—maker taiwan semiconductor manufacturing. this dragged tech stocks down. also we have seen oil prices rising, which has brought fears over inflation back to the fore. european stocks have just opened without any clear direction. and joe miller has the details about what's ahead on wall street today. on friday it's the turn of the worst—performing stock on the dowjones, general electric, to report

its first—quarter earnings. the industrial conglomerate, so large that it's often considered a bellwetherfor the us economy, has seen its power business, which produced 60% of its profits as recently as 2016, decline rapidly. the compa ny‘s financial arm ge capital, has also seen its profits slashed. as a result, ge shares have fallen more than 54% in the last year and the firm slashed its dividend in november for the second time since the great depression. to make matters worse, on tuesday, an engine manufactured with a french company failed in midair on southwest flight from new york to dallas and cost one passenger her life. investors will be looking for concrete guidance on where the company goes from here. in particular, whether it can expand its business in emerging markets. james bevan is chief investment officer at ccla investment management. hello. good morning. one of the big

movers overnight, taiwan semiconductor, it is saying it is not selling as many chips because smartphones are not selling as well as they used to. that is big. it is taking its guidance down from 15% to 10%. this taking its guidance down from 15% to io%. this is not a company in any trouble. it said smartphones were a challenge but also they were not going to make money from crypto currencies. they have been unwinding as global credit conditions become more difficult. they invested in crypto currency? the chips are involved in mining and training. it isa involved in mining and training. it is a huge issue. looking forward taiwan, chris emmy have a huge opportunity in terms of the internet of things and autonomous cars. i would say this is a short—term

thing. why is oil rising so much? some issues at stake here. the saudis want a higher oil price. we know the crown prince wants to spend money on modernisation. we are nervous about whether president trump will impose sanctions on iran which will take the oil price higher still. we have had a decline in infa ntry still. we have had a decline in infantry is in the us and this is important. many people say don't worry about society because any time they try and clamp down on production, the us will produce more. the gossip is there are real challenges in terms of pipeline capacity so even if they produce it they cannot shift it. so there is an infrastructure problem in the us even though shell producers are burrowing away madly to get it out of the ground, they cannot shift it? it isa of the ground, they cannot shift it? it is a big challenge —— shale producers. they have not got the

pipelines? they have pipelines but they need more and they need bigger pipelines. i know. thank you. still to come... facebook makes a return to facial recognition technology in europe! we'll get a round—up of the week's biggest stories with our tech guru rory cellan jones. you're with business live from bbc news. one in three parents on a low income have regularly skipped meals for financial reasons, and almost half have fallen behind on bills. those are the findings of a new report from the living wage foundation, which campaigns for employers to pay workers above the government minimum. the foundation's director, tess lanning, joins us now. what needs to happen to change this? i think what is interesting is these are parents in full—time work. we often think that parents who are

struggling in work, it is in least in part because of decisions they have made either necessity or choice and how to balance care with working commitments but these are parents working full—time in jobs commitments but these are parents working full—time injobs paying on oi’ working full—time injobs paying on or around the government minimum and they still cannot make ends meet. it shows a third of them are skipping meals forfinancial shows a third of them are skipping meals for financial reasons. they are falling behind in household bills and one in five have taken out a payday loan in order to cover the basics. overall, there is 5.5 million people earning less than the real living wage calculated on what they need to make ends meet. what do you think the answer is, it seems unbelievable in 2018 that we should be in this situation? we are campaigning for businesses to go further. we are saying what these findings show is more businesses

should join the movement, the 4000 businesses going beyond the government minimum and pay their employees enough to live on. thank you very much. this is about house of fraser and we have been talking about troubles within the uk retail industry here. it has urged the house of fraser has retained kpmg to look its restructuring plan. as with debenhams, we have seen this coming a long way off. we had the retail figures out and a lot was the bad weather but there was some fundamental problems monks some of these companies. plenty more on our bussiness live web page. there is lots to look at on there today.

you're watching business live. our top story — ministers from the us, canada and mexico are in talks to try and save the north america free trade agreement — or nafta. president trump has threatened to pull out of the trade pact unless the us gets a better deal. there was a lot of discussion this week when facebook rolled out changes which could give it access to even more of our data. to talk about facial recognition and all the other tech stories of the week let's speak to our tech guru rory cellan—jones. iam nota i am not a guru, iam nota guru, by the i am not a guru, by the way. you are, you are our personal expert, what is your take on the facial recognition story? facebook continues to make news. this is the

general data protection regulation, which is having a huge impact on all sorts of technical companies. facebook announced what it was going to do in relation to that. it was going to bring in the option of using facial recognition in europe, which it had never done before. it has been shy about bringing it into europe because it knows that perhaps we are more cautious about our privacy than a lot of americans. this is the facility where i'd take a picture of miriam and i'd post it on facebook. it begins to recognise her, and then the next time i post one of her, it knows it is her. it is stressing it will be very much opting in and you can get rid of it if you don't like it. normally they would say if you don't opt into this, you don't get this service that service, but that won't be

allowed ? that service, but that won't be allowed? no, there are all sorts of protections around but privacy campaigners are worried. it is becoming clear that mark zuckerberg talked about rolling out these european regulations basically across a lot of facebook and they acted yesterday to take 1.5 billion people, who are not in europe, not in the united states, the rest the world, but come under the european umbrella from facebook‘s irish branch. they said you will not be directly affected by this gdpr and it is suspicious they are not giving the protection. the european gdpr, will it be gold standard around the world, will everybody be doing it? that is fascinating, a couple of months ago, particularly from america, we were hearing about european overregulation and how bad it was. now everybody is saying this is the gold standard, we will imitate this. russian web users are reporting

problems accessing online services as a result of the authorities‘ bid to block the telegram messaging app. telegram is like what sap. it was started by a russian entrepreneur and it provides secure messaging. but governments around the world don't like completely secure messaging, they like to get in. the russian government demanded access and the creator of it refused. but they said it would be banned if he doesn't hand over the keys, sort of thing. in trying to block telegram, it has blocked a lot of other services, it has been chaos. they may be good at attack, but not

so good at the fence and it is slightly chaotic at the same time. what is a deep fake video? you can create very convincing fake videos. we had one this week were apparently president obama was saying some unlikely things, it was voiced by an actor. but the lip syncing abilities are now so good there is a huge concern that this is the next frontier in fake news. i have tried something called liar bird, which will produce your voice if you give ita will produce your voice if you give it a minute of your speech. it was back convincing but it is on the way that one day where you can tell it, i want marion to say this. this is making ourjob i want marion to say this. this is

making our job redundant? i want marion to say this. this is making ourjob redundant? that is the trivial side of it, what nobody worries about. on the serious side that could mean we could get more fa ke that could mean we could get more fake news on a different level?m is one of the downsides of ai and people are worried about the ethics of it. thank you very much indeed. in a moment we'll take a look through the business pages but first here's a quick reminder of how to get in touch with us. stay up today with all the day's business news as it happens on the bbc‘s business live page. there's insight and analysis from our team of editors right around the globe. and we want to hear from you too. get involved on the bbc‘s business live web page at bbc.com/business. on twitter we are @bbc business and you can find us on facebook at bbc money. bussiness live on tv and online, what you need to know, when you need to know. what other business stories has the

media been taking an interesting? james, let's start with the european investment bank, it is cutting down its investment in the uk, quite drastically? it is the flow of new money in 2017 was a material step down on the flow of fronts in 2016. this is important because the european investment bank via the european investment bank via the european investment bank via the european investment front has been a principal supplier of capital to start up businesses in growing parts of the market. why would you invest in the uk, lent money to the uk if it is about to leave europe, obviously? the shared the uk has had of the kitty has gone from 70% down to 8%. now france leads the pack, they are getting the most. they did

say there wasn't the demand in the uk at the moment? they put that in the statement but it hasn't been validated and it's not clear where that statement is coming from. but what is apparent there will be less capitalfor venture what is apparent there will be less capital for venture start—up businesses in the uk. it is notjust because we're leaving, but we don't know how we are leaving and those questions still have to be answered so we're not a very good investment climate. let's talk about senator tammy duckworth who gave birth ten days previously and brought her ten—day—old baby into the senate for a vote. the question is, bringing babies into the workplace, is it a goodidea? babies into the workplace, is it a good idea? we have asked people to tweet us about this, first of jane nichols in spain says work and home life should be separate things. work, you give your concentration to thejob at work, you give your concentration to the job at hand work, you give your concentration to thejob at hand under home work, you give your concentration to the job at hand under home your is priority. then billy says, i have no

issue, it should be encouraged but it depends on the job. the senator was ina it depends on the job. the senator was in a difficult position and she said if you don't turn up, you cannot vote. so she had to turn up. the senate says a child up to one—year—old can come. she is the first senator i believe, who has given birth in office. maybe it is about making easier for women to have children and come into work at the same time rather than just bringing them in with them? and making it easier for people who have other challenges, the senator is a double amputee and said to come in and do every vote when she could easily vote from home, does seem inappropriate and unnecessary. there are ways of approaching this, lauren says, how about better paid maternity and paternity leave? in her case it will not work because if you are an mp... did either of you

ta ke you are an mp... did either of you take paternity leave? no. would you now, share it with your wife? absolutely, i would. now, share it with your wife? absolutely, iwould. it now, share it with your wife? absolutely, i would. it is tricky in the markets where you have to be very alive and very current, and when you are home, your capacity to respond quickly diminishes quickly. this is why it is so interesting please keep tweeting is on this story. we raise the retirement age, so they could lower the starting age, babies might be pushing it! thank your own much and all the people who have treated us and james bevan. that's it from business live today. there will be more business news throughout the day on the bbc live webpage and on world business report. we'll see you again tomorrow. hello. what a day it was yesterday,

temperatures widely into the 20s in fa ct temperatures widely into the 20s in fact the highest temperature we got was 29.1 celsius in the capital. it made it the hottest april day since 1949. today those temperatures will not reach those heights of 29 but it still will be a very warm day the many others and there will be lots of sunshine to come as well. patchy mist and fog will clear away from western areas and around coastal areas, like yesterday it will be grey and disappointing. rain affecting the far north—west of scotla nd affecting the far north—west of scotland and lots of sunshine to go into the afternoon. temperatures, 12, 13 degrees into the afternoon. temperatures, 12,13 degrees in into the afternoon. temperatures, 12, 13 degrees in the into the afternoon. temperatures, 12,13 degrees in the far into the afternoon. temperatures, 12, 13 degrees in the far north—west of scotland. bit warmer further east of scotland. bit warmer further east of scotla nd of scotland. bit warmer further east of scotland and around the coasts, bit disappointing but for many places come into the 20s again, we could reach 27 or 28 degrees, the

high in the capital. tonight, clear skies for many and there will be patchy mist developing across southern areas through the night tonight, but with these clear skies across northern areas, temperatures could get down to three or 4 degrees, but further south and mild night with temperatures ten or 13. saturday, starting fine and dry with a bit of patchy mist and fog. cloud will develop through the day and then heavy showers will work into southern england, south wales and the midlands. there could be some thunder with that as well. temperatures down, 20 to 24 degrees. the scotland and northern ireland, sunshine here and those temperatures up sunshine here and those temperatures up to 17. on sunday, those thunderstorms will push their way eastwards and a cold front will move its way in from the west. that will introduce fresh conditions as we go through sunday. you can see the blue on the map taking over, warmth into the south—east of england. quite a

bit of cloud on sunday, ad breaks rain generally moving east with a few showers moving towards southern and eastern areas. temperatures down to 12 or 13 degrees in northern parts. still about 15, 16 degrees for much of england and wales the 20 or 21 for much of england and wales the 20 or21 in the for much of england and wales the 20 or 21 in the south east. if you are taking part in the london marathon, there will be some sunny spells and temperatures up to 21, perhaps 22 degrees. still one of the warmest blunder marathons on record. be prepared for that, goodbye. hello it's friday, it's 9am, i'm tina daheley, welcome to the programme. we'll be talking to a woman who was groomed, raped and coerced into crime, when she was a teenager in rotherham. sammy woodhouse's story encouraged many more survivors of child sexual exploitation to come forward. will prince charles succeed the queen as head of the commonwealth? that's being debated, behind closed doors, by leaders of the 53 member countries today. it is my sincere wish that the commonwealth will continue to offer stability and continuity

forfuture generations, and will decide that, one day, the prince of wales shall carry on the important work started by my father in 1949. we'll discuss suggestions that the title could be rotated around all the member states. and this child actor is the youngest person ever to be