16 to 18 celsius. 16 to 18 elsewhere and that is below average for the time of year. this is business live from bbc news with sally bundock and maryam moshiri. president trump threatens the "highest level" of sanctions on iran after he pulls america out of the international nuclear deal. live from london, that's our top story on wednesday 9th may. oil prices rise on fears about what trump's action will have on opec's third largest producer iran and the wider middle east. also in the programme — argentina's mounting crisis. crucial talks take place today with the imf in washington to try to secure a financial lifeline. markets trading in europe are pretty

mixed, as they digester from the white house. and we're looking at islamic finance — a sector boasting $2.3 trillion in financial assets last year — one of the global leaders in this field explains why it's an indusry where women can flourish. today we want to know, is london really the best place for students? it's been ranked as number one, do you agree? if not, where's better? let us know. just use the hashtag bbcbizlive. do get in touch with us. hello and welcome to business live. welcome to the programme. president trump is pulling the us from the iran nuclear deal, his government is set to re—impose the highest—level of economic sanctions on the country over the next six months. the original trade restrictions crippled iran's oil industry, but experts estimate that

new sanctions will only affect 200,000 barrels per day worth of iranian supply — that's less than 1 percent of global output. nevertheless, oil prices rose on the news. the move is likely to compromise iran's business relations with the west. following the lifting of sanctions in 2016, the us plane manufacturer, boeing, struck a deal with iran's national carrier for 80 aircraft, worth around $17 billion. the move has also frustrated america's european allies who have voiced their support for the nuclear deal. since the removal of sanctions, european trade with iran has more than tripled to almost $25 billion last year. today, shares in major french companies that do business with iran, including carmaker peugeot and plane manufacturer airbus, tumbled.

joining us now is marianne schneider—petsinger, the us geoeconomics fellow at chatham house, a think tank based in london. first of all, your reaction to the because it is not particularly a surprise? it is not a surprise, donald trump on the election trail promised to do this and also given recent statements, this is not a surprise at all. what do you think the effects of this pulling out are going to be on the day itself? does it mean the deal is over or can it continue in another form? the deal isa continue in another form? the deal is a deal between iran and six other countries. just because the us is pulled out, it doesn't mean the deal is dead immediately but it could die by 1000 cuts. it means the european parties, the uk, germany and france

will want to maintain the agreement, but they will not impose sanctions and they will be hit by the secondary sanctions of the united states. most likely european companies will face this choice of do they want to maintain business ties with iran or the united states? they will probably choose the united states and that means iran will have no benefits of maintaining the deal and will pull out itself. since the deal was struck, has there been a lot of interest in iran, lots of countries still figure around ? lot of interest in iran, lots of countries still figure around? if so, which countries? it didn't really happen. why not? many sanctions by the united states were not nuclear related and businesses couldn't go in and many european businesses, they were very reluctant to risk any kind of violation of us

sanctions, so they didn't go in. on the other hand, some french companies did. we have renault, trying to assemble cars and we have the french petroleum giants, exploring natural gas there so they will be watching this closely. president trump has pulled out of this deal and it makes you wonder when is a deal really a deal? when you strike a deal, surely you think thatis you strike a deal, surely you think that is it, you have shaken hands? it is making a mockery, if you sign something and then a few years later it means nothing to you? it undermines the united states credibility as a partner in deals and it throws up a new crisis in the middle east and it also undermines the transatlantic relationship. it is part of the series of deals united states has come pulled out of, the paris climate accord, the

ttp deal. thank you so much for joining us. let's take a look at some of the other stories making the news. vodafone has agreed to pay $22.7 billion for the majority of european assets owned by the us cable giant liberty global. the uk telecoms group said it will buy businesses in germany, hungary, romania and the czech republic. liberty global owns virgin media, which it plans to retain, as well as its operation in ireland. google has unveiled artificial intelligence software that books appointments over the phone using its voice assistant. at its annual developers conference, the tech giant showed demonstrations of the software booking a haircut and then making a restaurant reservation. very useful. disney's blockbuster film black panther, has provided a boost to the company's sales. strong performance in its movie and theme park divisions helped to offset weakness in its tv operation. profits were up 23% compared to the same time last year.

australia's biggest bank has agreed to pay $18.5 million to settle a rate—rigging case. the commonwealth bank of australia was taken to court by regulators in january after allegedly manipulating a benchmark used to set the price of bonds and loans. the bank admitted to "unconscionable" behaviour and agreed to overhaul its compliance processes. just a thought, if you work in a hair salon and you were on reception, can you imagine getting phone calls from you know, voice assisted machines. no, i couldn't. what if you ask them a question, do you need highlights? it would be one—sided. how far can it go? let's go to our website. greggs salad? do you think companies

and their reputation is based on pretty unhealthy eating, tasty but unhealthy. you mean like sausage rolls, pasties and pies? exactly. would you go to greggs for a salad? mcdonald's has done it. i would go for a mcdonald's has done it. i would go fora dirty mcdonald's has done it. i would go for a dirty big mac in mcdonald's. greggs says its profits will hardly move in 2018. maybe the salads will do something to change that. i doubt it. let's talk about argentina. argentina holds talks with the imf today in washington to try to securel financial help and stablise its currency. the central bank has raised interest rates to a0%, but is struggling to restore trust in the peso and the nation's ability to pay its debts. 0ur south america business correspondent— daniel gallas— has been across the story. argentina has been sending signals

to the market it won't let its national currency depreciate but it has been working. the government has taken this to a new level and going to the imf to secure more money. some say around $30 billion are needed to protect the currency and pay off argentina's debt. that has a huge political cost because many argentinians simply don't touch the international monetary fund. they still blame the imf for many of the recession that happened in the past. so this meeting is not only about securing trust and money from investors abroad, it is about convincing the public at home that this plan will work out in the end. the head offices of south korean conglomerate lg group have been raided by prosecutors in an investigation over alleged tax evasion. the probe is the latest of a string of troubles faced by the country's biggest conglomerates, known

as the chaebols. katie silva has more, what are they looking for? it is the behaviour of the family that owns it. they say they didn't pay capital gains tax, around 9 million us dollars. the owners, they are one of the richest in asia and they are what is known asafamily in asia and they are what is known as a family that owned a conglomerate of assets and they are increasingly under the spotlight. the government has promised to reform them. and he says he wants the governance to be more transparent and he wants competition to be more fair. the most notorious is this family which owns korean air

and the behaviour of them in recent times has caused protests in recent weeks, sally. thank you very much, katie. looking and markets in general, japan down by almost 0.5%. in asia, they are trying to digester that broke late on tuesday in the us about their intentions to pull out of the iran nuclear deal, what does it mean for oil in the middle east, what does it mean for trump's visit to north korea, which is very soon and his talks with kim jong—un there. there are a lot of questions are not many answers. let's look at europe quickly, we have mentioned stocks not doing well in paris in particular and germany. companies with ties to iran, so psa, airbus shares down by 0.5%, renault also

declining. let's look to wall street. on monday, investors will be paying close attention to 21st century fox. most analysts predict the company will be profitable, it has charged higher fees to satellite and cable distributors. but the earnings are the sideshow, investors are curious about whether or not the company has any updates about its pursuit of the european broadcaster sky and if the company has a preferred suitor. two us media giants are both vying to buy some of the assets of 21st century fox. things like the tv and film studios. why is there a bidding war? it has to do with netflix. they are worried the streaming service provider is hurting their bottom line and they think that if they can acquire some of these assets from 21st century

fox, it might be the key to their survival. joining us is sue noffke, uk equities fund manager, schroders. the big on iran and companies sniffing around the uranium markets, but has there been a reaction to the the us is pulling out of the iran nuclear deal? not a big reaction. it was widely expected, so a lot of the moves in the markets in recent days and weeks have begun to price it in and weeks have begun to price it in and weeks have begun to price it in and we have seen it in the dollar, we have seen it in the oil price. all of these things are still happening, and the trends are expected to continue, but what we are beginning to see today is much more attention to the detail of what the sanctions really mean for individual companies and countries. another story that caught our

attention is flick cart of india. it is looking to make a deal with walmart. for those that don't know it is indian e—commerce, it is a start—up and was founded in 2007 so is only 11 years old but it could be valued between 15 and $20 billion. it has attracted attention from some of the biggest retailers globally. so walmart and amazon have been keen on investing in this asset and it looks like walmart, along with google's parents, alphabets will be the winners and taking a 25% stake. it isa the winners and taking a 25% stake. it is a real success story. you will be back later to talk through the paper stories with us, so stay with

us paper stories with us, so stay with us in the studio. still to come. the world of islamic finance — it may not be teeming with female bosses, but one of the leading ladies in this field says this multi—trillion dollar sector is a place for women to win. you're with business live from bbc news. since the beginning of the month some businesses in the lake district have been able to use their own currency, which they hope will encourage tourists to spend more cash in the region. similar local currencies have been launched in brixton, bristol, hull and liverpool. ben thompson is on the pier in ullswater to find out what impact the currency will have on the local economy. good morning from ullswater in the

la ke good morning from ullswater in the lake district. we are here because they have launched a local currency, so they have launched a local currency, so forget your rose, dollars and sterling, because it's all about the la ke sterling, because it's all about the lake district pound —— your euros. it was in the 18 and a half million visitors to swap sterling for their la ke visitors to swap sterling for their lake district pound and spend it in local shops may hope they can support local charities and organisations that look after this beautiful part of world. anthony is with me. what difference to these local currencies make? why do you need them? it is about getting visitors to think they are involved ina unique visitors to think they are involved in a unique experience and somewhere as beautiful as the lake district, there's lots on offer. for small businesses this is about encouraging visitors to look again at where their money is spent and the difference it makes. we think it's a very positive initiative. it's not the first in the country. there is one in bristol, brixton, for example. are they making a big

difference? example. are they making a big difference ? i example. are they making a big difference? i think they are because they're asking people to think again about what difference there spend makes. in tourism, across the uk, we have something like 200,000 small and medium—sized businesses and each of those depends on a really strong visitor economy and this is just one extra initiative which helps with that. anthony, thank you very much. the idea is to get people to spend that money in the shops here but they also want people to take some of them away with them because they will change every year, so if you don't use them in that year, they expire, but the money in the currency you have not spent will go to local charities. 18.5 million visitors, if they take £1 away, that 18 and a half million to charity. when i come to work in the morning i asked the question, where is then? and i say he is in ullswater having a good time, spending the local money. stay with us here on bbc

news. you're watching business live — our top story. president trump threatens the "highest level" of sanctions on iran after he pulls america out of the international nuclear deal. a quick look at how markets are faring. not a massive reaction to the news so not a massive reaction to the news so far. the marketing london is up nearly half a percent and in germany they are keeping their head above water. we often talk about gender imbalances. but today we have an example of the success story. farmida bi was born in a small village pakistan and moved to the uk at the age of six. she qualified as a lawyer specilaising in financial markets, working on bond advice to banks. about 15 years ago, she spotted islamic finance as a growth area and developed this part of the practice. since the first of may this year, she's

the new chair for europe, middle east and asia at the law firm norton rose fulbright‘s — the first woman to take on the role. i'm pleased to see that farmida is here. thank you so much for coming on the programme. first of all, let's talk about your story because you are hugely successful in a massive law firm. you started life ina massive law firm. you started life in a small village in pakistan and moved to the uk at the age of six. yes, a lot of people moved to the uk in the 60s, and my family did as well and we came and joined my father in the 70s. that was in 1973. it's a pretty common story and we've been hearing a lot about it with the windrush generation. are you the eldest of five or six? five. five, daughter, and you said your dad was

very supportive and open—minded about what you could do and what you could be when you grew up the jaw mother was not so. i think my dad was supportive but the idea of a daughter going to work was as strange as it was for my mother but i think he was inherent in —— inherently more confident. where is my mother had had a very traditional, sheltered upbringing so for her it seemed unimaginable how you could navigate through the modern world as a woman. and yet you have navigated very successfully. you are where you are now. how do you think of the world of law in particular has changed over the past 30 or so years in terms of diversity, women, and also islamic finance, and bringing in that level of culture into the wider sphere of law. when i started my training in 1990 it was interesting because in law school there were equal numbers

of men and women and there had been for a good ten years before me. but there weren't a lot of ethnic minorities around. when i started there were a lot ofjunior female lawyers, but not a lot of ethnic minorities but very few senior women and few female partners. that has changed enormously. back in the 19905, if changed enormously. back in the 1990s, if you did not have a purely british heritage you were not really encouraged to talk about the other things that you did. you were expected to just fit in and be like everybody else. i think there's been an enormous change since then and pa rt an enormous change since then and part of that is due to the fact that city law firms have becoming creasing the globalised and clients are no longerjust one of the 50, they are one of the biggest law firms and we reflect our clients. we are very conscious of the fact that we are losing talent so we are

trying to make sure that women, for example, who want to start a family are able to combine that with their families and we want to make sure that people from a broad range of backgrounds and ethnicities are in the firm because they reflect our clients. you are a mother with two sons, with your husband who is a barrister so you shared parenting because are both full—time in terms of your work. what are you doing to make a difference to enable more women, but also men and women from ethnic groups, to succeed in law? what we do is try and ensure that we offer flexibility what we do is try and ensure that we offerflexibility in what we do is try and ensure that we offer flexibility in the workplace so it's no longer a question of arriving, having children put off until later, and you can work flexibly and it does not affect your career progression. as a firm we are keen to do that. we are involved in programmes which try to encourage

young people from bme backgrounds to enjoy i personally have been involved in charities like mosaic, who run programmes of men touring and support for people for whom a city career might not be an obvious choice —— mentoring. city career might not be an obvious choice -- mentoring. why islamic finance? why did you decide to go into that? like a lot of these things it was almost an accident. i was a bond lawyer and some collea g u es was a bond lawyer and some colleagues and i were asked to work ona$1 colleagues and i were asked to work on a $1 billion islamic bond and because they were not bond lawyers they asked me to work on it and that was back in 2003 which was the start of that particular market. i worked on that deal and that quickly followed, and that is how i developed my specialism. fascinating. i could talk to all day. thank you forjoining us. 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—to—date on the business live page. there is insight and analysis on the team of editors from around the globe. and we want to hear from you as well. get involved on the bbc web page. and you can find us on facebook. what other business stories has the media been taking an interest in? we are looking at the ranking of the top cities in the world to be a student in, and london has, top. —— come out top. we were quite surprised in the news room. it's expensive, so that is why we are surprised, so why is it so good to bea surprised, so why is it so good to be a student? they have asked stu d e nts

be a student? they have asked students what they think are the top places to study and it is the concentration of really excellent institutions, the diversity, the culture and the access to getting jobs. so the workplace opportunities are very strong in london. so it ticks all the boxes. affordability is an issue. tokyo came second. it's quite interesting to see this. we have had a few tweets. julia says leipzig is nice and affordable. and me so says shanghai. we did ask you to tell us about your opinion. soo, thank you joining us. i'm afraid we have run out of time. i could have carried on talking. that's all we have time for. keep those tweets coming in and go to our website if you want more information on all of our stories. we will see you tomorrow. goodbye. yesterday temperatures still got up

to 27 or 28 degrees in eastern parts of england but things will turn much fresher today. dier is coming in from the atlantic for all of us and wea from the atlantic for all of us and we a weather system —— the air. that will bring increasing cloud and outbreaks of rain. the rain through northern ireland will spread to scotla nd northern ireland will spread to scotland and the western fringes of england and wales will see rain as we go through the afternoon and into the evening. the further east you are, there is increasing cloud, but sunny spells. temperatures much lower between 19 and 21 celsius. and those temperatures in the west are lower by a degree or so compared to yesterday. through the evening and night this area of rain will move to the east with clearing spells coming in western parts meaning

temperatures will get to fairly low single figures in auroral areas especially, that major towns and cities will be about six or 10 celsius. 0n cities will be about six or 10 celsius. on thursday, early cloud and rain will move away and then we are looking at dry weather on thursday with lots of sunny spells. but few showers developing in northern areas of england. those are fairly well scattered sofa many a dry day but a cooler days still with temperatures between 13 or 1a degrees in the north, 15 or 17 in the south—east. through thursday and friday another weather system will move in from the west and that will bring increasing amounts of cloud and more rain into northern ireland, this time into much of wales in the south—west of england, fairly swiftly during friday. elsewhere some cloud around but some holes in the cloud to give us sunny spells and temperatures around 17 or 18

degrees, but north and west, only 10 celsius in belfast with temperatures well below average. into the weekend, will area of low pressure —— an area of low pressure which will give some fairly unsettled conditions. there would be quite a bit of sunshine over the weekend but all scope the risk of showers —— also. it's going to stay quite cool as well for the time of year compared to last weekend where we had really hot weather. this weekend, much cooler. goodbye. hello it's wednesday, it's 9:00am, i'm victoria derbyshire, welcome to the programme. what now for the iran nuclear deal? can it be saved after president trump's decision to pull the us from the pact between tehran and six world powers? we will now have to work with united states position on this and with the rest of the parties on the agreement

and we will work very hard to make sure we do. we'll talk live to the shadow foreign secretary, emily thornberry in a moment.. also — it has the harshest abortion laws in europe — breaking those laws can mean life imprisonment — and its british. to go somewhere and have such an invasive procedure and not know what to expect was daunting, yeah. it was not a nice feeling at all. it made me feel quite alone, really.