this is business live from bbc news with ben thompson and sally bundock. it is on! us telecoms giant at&t finally gets the go ahead to merge with media conglomerate time warner, it's a deal worth $85 billion. live from london, that's our top story on wednesday the 13th ofjune. a federaljudge overruled objections from regulators who feared the merger would hurt consumer choice. also in the programme: shares in chinese telecoms equipment firm zte plunge nearly a0%. we'll cross to our asia business hub to find out why. in europe, the markets are fairly flat, treading water ahead of the

expected rate rise from the us federal reserve. need some r&r? we'll meet the man behind an app helping take the stress out of finding a spa. today as accountancy firm pwc and one of its partners is fined millions for signing off on the accounts of failed retailer bhs, we want to know is it fair to fine individuals, as well as their firm? who should pay the price? let us know, use the hashtag bbcbizlive. hello and welcome to business live. jam—packed as ever, i think we have even got the floss today, stay with us, all will be revealed. a usjudge has cleared a mammoth deal between at&t and time warner, announced 18 months ago, this is likely to shake—up the global entertainment landscape. we're talking about the $85 billion marriage of the wireless and broadband giant and the media—entertainment conglomerate time warner, home to cnn and hbo's hit

game of thrones. the merged group would have a market value of some $286 billion dollars. it is a blow for donald trump, who wanted this tie—up blocked over worries it could harm competition and force up prices for consumers. but it paves the way for more deals in an industry being shaken up by likes of netflix as more of us streaming our entertainment online. alpesh patel is the chief executive of praefinium partners and joins us now. one of the interesting things out of this, president trump did not like this, president trump did not like this deal one bit and yet it has got the go—ahead, what is the politics behind this? luckily he was in north korea when this came out, tweeting

about robert de niro rather than this(!) in his election campaign he said he would block this, the idea of big media and not fox, not pro trump, andi of big media and not fox, not pro trump, and i read thejudge ‘s speech on this, it is clear that he threw out, as laughable, as derisory, the government's legal arguments, which were, obviously, politically based. and so this is actually breezed through, this vertical integration, they are not direct competitors, it has breezed through, the government is looking ata through, the government is looking at a potential appeal, that is to placate the president, i think, i think they will not get through, there was not a grey area in this. justiciable, donald trump was in singapore not north korea. he probably didn't know that either! laughter. —— just to clarify. in terms of the

media space, what does this mean, there are a lot of concerns that these two coming together, if they do, eventually, is a huge really powerful player, and they could charge consumers are a lot more if they wish to. that was the government argument, it failed for those spaces, that actually, the potential distributor, the content provider, have not behave badly in the past. at&t have not said, we will give preferential treatment to oui’ will give preferential treatment to our own content and we will lock out others who refused to negotiate on oui’ others who refused to negotiate on our terms, they have not done that. there was not a bad history, not bad behaviour, that is why it went through. there is potential powder, we will only carry this content, nobody else's, if you don't pay up a premium, but they have not been doing that. but it has utterly changed, we are not talking about big media conglomerates, we are talking about net —— netflix and

amazon. there is the argument that this make sense, you had better consolidate while you can, not least because atn stay, we are talking telecoms, old tech, that was one reason. “— telecoms, old tech, that was one reason. —— at&t. you will get away with an interest rate relatively low, you will get away with getting the funding through at these important times. let's take a look at some of the other stories making the news. tesla said it plans to cut 9% of its workforce, that's 3,000 jobs, as part of a restructuring as it tries cut costs and boost profitability. the layoffs at elon musk‘s electric car company come as it tries to increase production of its model 3 sedan and turn a quarterly profit this year. dixons carphone warehouse has given details of a huge data breach. it says hackers gained access to i.2—million personal data records

including names and email addresses and attempted to access 5.8—million debt and credit card details. it says there is no evidence the breach has resulted in any fraud. the firm says it is contacting those affected. the world's biggest ad agency wpp is reviewing the way it implements its codes of conduct following allegations about the behaviour of the group's former boss martin sorrell. the review comes ahead of a potentially stormy annual meeting today and follows publication of a ft investigation into the circumstances surrounding sir martin's departure from wpp. a partner at uk accountants pricewaterhousecoopers, who audited the books at collapsed british retailer bhs, has been fined $668,000 and banned from audit work for 15 years. pwc was also fined $13.3 million following a two—year inquiry. the early settlement means both fines would be reduced.

the boss of denim brand guessjeans has stepped down, over allegations of inappropriate behaviour with models. paul marciano was executive chairman and chief creative officer of the company but is accused of inappropriate comments and texts, and unwanted advances including kissing and groping. but an investigation launched to examine the claims issued no conclusions because some individuals either declined to be interviewed or provided insufficient information. shares in chinese telecoms equipment maker zte plunged by 39% as the company resumed trading in hong kong after a two—month suspension. last week zte agreed to pay a one billion dollar fine to us authorities, after the firm was found to have violated trade sanctions. karishma vaswani is in singapore. you have had quite a week! tell us

about zte! you have had quite a week! tell us about zt e! no you have had quite a week! tell us about zte! no more north korea for today(!) just to remind audiences about what happened with this company, effectively, it became a bargaining chip between the united states and china in the us china trade war, the company back in april was effectively crippled because of a band that was slapped on american supplies for seven years, not allowed to sell any of their goods to zte and remember at least one quarter of the things that they make, products like smartphones and network equipment, most of that comes from the united states, they we re comes from the united states, they were pretty much put out of business, and that happen because zte did not end up disciplining some of its executives who basically invaded us sanctions on iran and north korea, things improved, because as i was saying, this company became a pawn between washington and beijing, president trump waded in to save the company,

still many changes that they will have to deal with ahead. thank you very much, part of a stellar team, the most busy week they have seen for some time. let's look at the markets in asia, z theeb was the big fall on the hang seng, you can see the hang seng overall down by a percent, the weaker yen is helping. the weakness is ahead of the federal reserve likelihood of a interest rate rise. —— zte was the big fall. looking at europe, dixons carphone, 6 million customers data could be compromised. wp p shares are flat ahead of the agm. —— wpp. there is a growing diverging some of

the rate rise underlines that. everything inured is pretty sluggish. waits on hold. in the us, the economy is pretty buoyant right now. rates can go up. nearly eve ryo ne now. rates can go up. nearly everyone expects a rate rise today, a lot of the focus will be on whether we get another rate rise after that or two more this year, in addition to what is expected this year. whether it is three or four, we think it is most likely to be four, from trusted with the eurozone, we expect no rate rises until the second half of next year, with unemployment higher compared with unemployment higher compared with the us, unemployment is the lowest it has been since 1969. why is there such a difference? the us economy is more advanced in the cycle, in europe, much higher unemployment, that means inflation

pressures a re unemployment, that means inflation pressures are more subdued. in the us, inflation is picking up above target, in the eurozone, inflation is below target, that means the fed are happy to put up interest rates, ecb remain on hold. in terms of the acb, what about quantitative easing, the tapering of quantitative easing. -- ecb. looks likely that by the end of the year, the ecb will have stopped its programme of huey and we may get an announcement on that this week, we think they will take it, that means going from buying 30 billion a month down to buying a slightly smaller number between september and december and then at the end of the year, ending it. we still have two remember, these economies are still on those emergency measures that were introduced in the wake of the financial crisis, more than a decade on, till trying to come off the life—support machine. lu pton on, till trying to come off the life—support machine. lupton to do so. life—support machine. lupton to do so. the economy is not in a position where it can stand on its own two

feet. —— still reluctant to do so. europe,japan, feet. —— still reluctant to do so. europe, japan, the feet. —— still reluctant to do so. europe,japan, the uk feet. —— still reluctant to do so. europe, japan, the uk even. but it is getting closer to neutral, monetary policy, in the us, the economy is doing better than everywhere else in the world, they are ina everywhere else in the world, they are in a position where they can withstand higher interest rates at least until the end of next year. as soon as we get news of a fair decision, we will update you. kim dixon is there in washington on fed watch. still to come: we all need a little rest and rejuvenation from time to time. but finding it can be stressful. we'll find out how an app could take the angst out of finding a spa break. you're with business live from bbc news. now, some say she stole the show

at harry and meghan's wedding by not only designing the bride's highly praised evening dress but also the paparazzi—pleasing outfits for amal clooney and oprah winfrey. now, stella mccartney, is opening a major new store in london, which she claims to be an eco—friendly breath of fresh air. our arts editor will gompertz went to see the designer in her new shop. you walk into my store, and you have filtered air, completely clean, as you walk in, you get living plants and rocks from partially from the farm i grew up on, in scotland. we have created skylights. as you walk in, you get living plants and you get rocks from... partially from the farm that i grew up on in scotland.

so, you know, we're using no animal products at all, obviously, we don't kill any animals which means we're not cutting down forests to create grazing for them, we're not using chemicals to tan them. we're not taking water to inefficiently... that's all great but you must have some nights where you just feel really awkward about the whole thing, where you just feel, come on, this is a nonsense, i'm making stuff which people don't necessarily need, i really genuinely feel about the environment, i shouldn't be doing it. i absolutely do, i agree, look, i am not perfect, we are not perfect here. but i'm trying to make change in an industry. and i'm a fashion designer. i did not start out trying to be an eco—warrior, that wasn't my intention, it just came about. and the duchess of sussex, meghan markle as she was, at what point did you get the call that you were going to be making her going away dress? my thing is i've made a lot of wedding dresses for a lot of high—profile people, none as high—profile as this obviously but i've always felt very protective over that moment.

she certainly is, and for good reason, i love that dress, more than the wedding dress. pain close attention. quick story for you, the boss of wetherspoon says he will stop selling champagne, he says he will back more non—eu and uk beers and drinks. you're watching business live, our top story. a usjudge has given the go ahead for telecoms giant at&t to merge with entertainment conglomerate time warner in a deal worth $85 billion. the court ruled against objections from regulators and president trump who were concerned the merger could hurt consumer choice. a quick look at how

markets are faring. now, are you feeling a bit worn down? after the events of the last few days, who could blame you? could you do with a spa break? well, you're not the only one thinking of splashing the cash. ben has never been on one, i've been on loads, i love it! in 2015 the the global wellness industry was worth $3.7 trillion. of that $98.6 billion was spent in spas all across the world. and the global spa market is forecast to grow by 5.6%. jason goldberg is director of spaseekers.com, a firm which helps consumers to choose which spa to use. we make spas accessible for more and

more people for the mass market. why doi more people for the mass market. why do i need to use your service, can i just not call the one at the end of my street and asked to come in? maybe, but you are not quite sure where you would be going, from the convenience of your own mobile device, you can make it really easy to find and buy your perfect spa experience. we back that up with good customer service to answer questions you might have. everything is called a spa these days whether it is or is not, what is a spa and how do you make money? if i am going to be charged to usual service to find a spa then i am just going to find a spa then i am just going to find it myself. you could do, they can be expensive, but we eliminate the hassle, of you making a mistake. you can find and buy your perfect

spa online with a. how did this begin, it began with a brochure, a health brochure, like all tech entrepreneurs, it moved to a garage! explain the progression. the we started in 1989 when my mother wa nted started in 1989 when my mother wanted to visit a health farm but she found it impossible to find information on them, so my dad, and 17—year—old me, we decided to help out, we work from a garage, a long time before the internet, and it was just piles of brochures stacked everywhere, a phone and an old fax machine, that is how we began. it has been a big success, your website is used widely, the business model, how do you make money? we make money from representing the spa supplies that we deal with over the uk, and they pay us a commission across. —— spa suppliers. how did you find

operators like groupon affecting the industry, cut—price deals, spa one for two, how is that affecting the industry? it promotes the industry asa industry? it promotes the industry as a whole, it is not bad, but with my website, all of our spas have to be toa my website, all of our spas have to be to a minimum standard, so we know which ever spa add customer goes to, they will have a minimum experience of let's say a couple of treatment rooms, leisure facilities, pool, sauna, steam room,jim, rooms, leisure facilities, pool, sauna, steam room, jim, and lunch, and they will have a really nice experience, usually in a really nice setting. —— gym. a nice exclusive experience. if you go to places like you mentioned groupon for instance, you mentioned groupon for instance, you do not know what you will get but with us it is a good quality experience. often ask guests about the highs and the lows, running your own business always comes with those. really amazing moments when

you think, i have nailed this, this isa you think, i have nailed this, this is a great market, but you have to work through tough times, and we have —— you have had some of those. if you are in business, it is a case, it sounds like a cliche but it is about how you deal with those and get over those, you have to be really resilient, and we have a fantastic team of 22 in place, at the website, and, yeah, it is continuing to promote relaxation, from my point of view, my mission is to help make everyone relax, we all need to relax more, and it is to improve well—being, make spas more accessible for more people. when you hit the lows, let me give you some advice, indian head massage. yeah, thatis advice, indian head massage. yeah, that is one of my favourites. nice to see you. thank you very much for joining us. one game that's captured the attention of millions of kids everywhere, including mine, is fortnite.

not least for the floss dance it's inspired. it's not been popular with parents, but the game has been downloaded more than 45 million times! the bbc‘s dave lee went to the e3 gaming event in los angeles to find out what all the fuss is about. around 100 players at their station playing the game, what they are doing is being shown on the big screens, and all around them are fans, absolutely transfixed. the makers of fortnite, epic games, make hundreds of millions of dollars every month, when you come to an event like this, it is really easy

to see why. there has been quite a lot of battle royale games this year, battlefield, call of duty, all of these companies arejumping on the call of duty, all of these companies are jumping on the battle royale train, whether fortnite it can weather the storm, we will wait and see, but it has a good standing. how do you do it? you're being too kind! he was being really kind. my son is a killer at

it. you can't do it, either. and it has nothing to do with coordination! laughter before we start a full—blown fight... i before we start a full—blown fight... i can dance, i may be able to do in indian head massage full of this news that pwc, and particularly, one of his partners. banned for 15 years. and did a pretty big fine. we are asking whether it is right that individuals carry the can. the find to steve dennison, the senior partner, £325,000. you are a partner, that is not hefty. what do they earn? a hell ofa not hefty. what do they earn? a hell of a lot more, especially equity partners, they can release the equity, in auditorfor 15 partners, they can release the equity, in auditor for 15 years, you have been done a favour, you don't have been done a favour, you don't have to audit anymore! probably a

golden handshake out of your equity as well, so that is not painful. 11,000 people lost theirjobs at bhs, the retailer... prior to the sale for £1, this was the audit done sometime ago. the auditors were found by the regulators... effectively be negligent. now, if you are negligent, you have a duty of care to the employees of the company you are auditing, i think there is a class action lawsuit in there is a class action lawsuit in the offing here. is in this unusual, ina way, the offing here. is in this unusual, in a way, what you are saying is, this is not enough, should have been fined more as an individual, will not hurt him that much financially, but you don't hear of this happening often enough. if you are... i don't know if people still say blue—collar workers, but the 11,000 working at bhs, you are probably thinking, i think there is an economic corporate establishment who seem to look after their own. yes, this is a fine and there is a bit —— it is more than it was before, but this is a slap on

the wrist, used to become a pat on the wrist, used to become a pat on the back, don't do it again. aside from increasing the fine, what is the appropriate penalty? band the company from being able to do any audits at all for any company, that will wake them up a little bit more. we have got to leave it there, let's mention some of your responses, we have asked what you think about this. christina says that failure of oversight trading by the company should mean it the current shinny —— the company suffers. i can go to prison for not paying my council tax but they just get a fine, prison for not paying my council tax but theyjust get a fine, says one. one person does not make or break a company, but such individuals must be identified and find, not the company. that is business life for another day. we will see you soon. goodbye. good

deal of dry and bright weather across england and wales today, change on the way for the north of the uk, through tonight's wet and unseasonably weather. in the jet stream, a dip in thejet stream, areas of low pressure, we have two, the first area already moving into than lord west, deeper area of low pressure looks like it will bring heavy persistent rain and the isobars are tightly packed, looking at strong winds overnight and into tomorrow. through today, good deal of dry and bright weather, sunny spells, cloudier through the day, one or two showers, showery outbreaks of rain working in from the northwest scotland and northern ireland, when freshening as well. light and patchy as it moves east. temperatures not doing too badly, in the sunny spells will not do too bad. as we go through this evening and overnight, the next area of low pressure working in from the north and west, heavy persistent rain for northern ireland and parts of england and scotland, we will see

the wind strengthening as well. rain a little patchy the further south you come, temperatures staying in the double figures across—the—board. as we start the day tomorrow, very windy in the north, these are the windy in the north, these are the wind gusts, as we move through rush—hour will, looking at gusts between 50 and 60 mph, locally, a bit higher, in exposed spots. for scotland, northern ireland and northern england, travelling tomorrow, potential for northern england, travelling tomorrow, potentialfor some disruption, stay tuned to bbc local radio forecasts and we will keep you up—to—date. as we go through the day, rain working to the south and east, patchy across england and wales, sunny spells feeding in, persistent rain for north—east scotland, that is working to the east, behind it, sunny spells, reading in with the risk of one or two blustery showers. wind easing as we move through the afternoon, temperatures of a maximum of 22 celsius. hello, it's wednesday, it's 9 o'clock, i'm victoria derbyshire, welcome to the programme. a year ago tonight, one of the uk's worst disasters

in modern times happened here — at grenfell tower — in west london. a fire engulfed all 2a storeys of the tower block, killing in total 72 people. this morning we here to talk to those who lost friends and family and to talk to survivors. the official inquiry into how it happened has heard that a catalogue of errors contributed to such a huge loss of life. a local authority instigated and oversaw the refurbishment of a social housing high—rise tower block in such a way as to render it a death trap. this morning, we'll look at the promises that were made in the aftermath of the fire — including this one.