this is business live from bbc news with maryam moshiri and samantha simmonds. flying without wings. planemaking giant airbus warns it could leave the uk if there's no post—brexit trade deal. live from london, that's our top story on friday 22nd june. the aerospace giant warns no deal would lead to severe disruption — the british government says it doesn't expect that to happen and significant progress is being made. also in the programme... could the price of oil be about to fall? leading producers are meeting in vienna where they could agree to increase production. it is looking like a good start to

the week for european stocks. and our technology guru rory cellan—jones will be here to talk about major change to the way europe reads its news online and all the other big tech stories of the week. and as the boss of intel is forced to resign after failing to disclose of an affair with an employee, today we want to know — do you know what your company policy is on relationships with colleagues? and have you always disclosed a relationship when you should have? let us know... just use the hashtag bbcbizlive. hello and welcome to business live. the european aerospace manufacturer airbus is warning that it could pull out of the uk, risking thousands of jobs, if the government can't agree a brexit deal with the eu. there are just nine months until the uk is set to leave the european union. the company, which employs 1a,000 staff across 25 sites in the uk,

has published a brexit risk assessment warning outlining the risks. it says it could reconsider all of its uk investments, if britain crashed out of the single market and customs union without a transition deal. the uk government has responded by saying significant progress has been made on a deal and it's confident of getting a good deal. airbus has headquarters in germany and france and those country's government's each hold an 11% stakes in the group. — 22% in total. tom williams is the chief operating officer of airbus commercial aircraft. speaking a little earlier he told the bbc‘s today programme that the uk's post brexit trading relationship with the eu was still not clear. we have become increasingly frustrated with the lack of clarity, and obviously time is running, we're coming up tojust nine months to go. now we have succumbed to the point where we have to make serious decisions. quite often those decisions are long—term in nature. without clarity, then it is too dangerous for us to proceed.

what kind of decisions are we talking about, then? we are talking about decisions in terms of safety stocks, buffer stocks of components, assuming there will be chaos at the borders and material won't be moving freely. we are talking about doing best in cover capacity. and we are also talking about what will happen to components from suppliers to us. and our customers. today they are certified under eu rules. at the end of march next year, those certifications will be invalid. those components won't be able to be fitted to aeroplanes. when do you make your final decision on this, as it were? what, for you, is the cut—off point? as we go through the summer, over the next weeks we need to get clarity. we are already beginning to press the button on crisis actions. clearly the challenge of this, it isn't a one—off decision,

it will be a series of significant decisions that will accumulate as we go over the next couple of months. is it true or not, as the times says this morning on its front page, that airbus is planning to abandon plans to build aircraft wings at british plants? what we were saying specifically, as we look at the next generation of wings, we are working on that today in development in the uk. and we are seriously considering whether we should continue that development or we should find alternate solutions. right, and on that, when will the decision be made, do you think? inaudible. as we go through the summer we need to get clarity. our business editor simon jack joins me now. they have been very anti—brexit since the referendum result was

announced. how have you taken today's developments? this is a significant element. he has given a timescale, asking for clarity over the next few weeks because we are making important decisions. they are basically freezing investment in the uk until they get that clarity. it is similarto uk until they get that clarity. it is similar to what i have been hearing from other manufacturers in the uk. many have not gone public. they have said we will give the government time. they also have shareholders and customers and what have you, 52% of whom in the uk voted for brexit so they need to strike a balance. this shows the level of exasperation on the speed of these negotiations. and other manufacturers have said to me, similar sort of time frame, look, we need to have ideas on what the customs arrangement will look like. what kind of free trade agreement we will get. and we need that by the end of the summer otherwise we will have to spend money on contingency planning, which we don't want to spend. the more we stand much less

competitive the uk is as a place to do business. —— the more we spend on that the less competitive. people are exasperated that the companies themselves haven't gone public earlier. some people in government will think it is about time the companies have made good on some of the privately held concerns they have. the government has responded, saying significant progress has been made. how long do you think they will be by today's interventions? the government will feel the heat on this, and they will say, quite rightly, we don't want to come out of the eu without a deal. that isn't what we want, it isn't what brussels want. the transition start in march 2019 and continues until december 2019. they have sent that there will be integrated supply chains. most people in business, and some in

government, do not think december 2020 is long enough to put those procedures in place. —— the transition period will be from march 2019 and will continue until december 2020. it's a year and half since the leading group of oil producers opec agreed a cut in supply which has led to a steady increase in the price of the fuels we all use to get around and heat our homes. but that could be about to change as the group are widely expected to agree to open the taps again at their meeting in vienna today. why do countries want to raise output, even by this very small amount? ever since they agreed to cut output they have ended up cutting it more than they initially promised. because countryside venezuela in particular, their output has declined more sharply. simply because they have had financial issues, lack of equipment,

people, and opec have said they have over complied, let'sjust people, and opec have said they have over complied, let's just bring people, and opec have said they have over complied, let'sjust bring that level to 100%. they are not getting out of the deal, they are just making up for the extra volume it ended up cutting from the market involuntarily. iran are furious. they have said they don't think they will be able to reach a deal today. what is the issue? this meeting has become very political. the us has imposed sanctions on iran. and all of the public tweets by donald trump on the news articles talking about saudi arabia raising production to deal with the situation. having won the opec member making up for when another member is suffering. there isa another member is suffering. there is a compromise to be had. but that is a compromise to be had. but that is iran's biggest issue, because they will be facing significant

headwinds in the coming months as their production and exports fall off a lot. is there a danger of this shortage —— a shortage in oil? off a lot. is there a danger of this shortage -- a shortage in oil? opec are starting to put some barrels back into the market. i don't think it is imminent. but i think it is a possibility for next year. having said that, the impact of venezuelan and iranian losses are advertised. we are seeing issues in libya right now, lots of militant attacks there, and fighting, meaning production is falling. nigeria also has its own problems. if there will be more outages there will be a risk. most countries that can produce output are struggling already, and there is not a lot of wiggle room in this market. thanks very much for the update. let's take a look at some of the other stories making the news...

the 35 largest banks operating in the us have enough money on hand to withstand a severe financial crisis despite rising levels of credit card debt. that was the finding of the annual "stress tests" conducted by the us central bank, the federal reserve. new rules from congress recently reduced the number of banks which are subject to the tests. chipmaker intel has announced that its chief executive, brian krzanich, is stepping down with immediate effect because of "a violation of intel's non—fraternisation policy". mr krzanich‘s departure is the latest high—profile exit amid pressure on companies to address issues around gender relations and office conduct. the american bike—sharing service, lime, is launching an electric scooter scheme in paris today. users will be able to hire the scooters using the company's mobile app. lime already runs similar schemes in berlin, frankfurt and zurich, and plans further expansion across europe later this year. this is what stock markets have been doing.

asian stocks fell to 6 month lows in trading. as with much of recent times it's the fear over trade wars that has worried investors and decided the direction of shares. yesterday india and turkey sais they wld impose tariffs on us goods as the prospect of a global trade war gets closer. in europe it looks like energy stocks could help markets ahead of that opec meeting of oil—producing nations as oil prices continue to see gains this friday. and kim gittleson has the details about what's ahead on wall street today. on friday investors will be paying close attention to the companies that could be impacted when planned european union tariffs go into effect today. the import tariffs of 25% will affect a range of us exports from politically sensitive states. to refresh your memory, the european union decided to impose these tariffs, which will impact something like 2.8 billion euros worth, or $3.2 billion worth of us exports. in retaliation — the eu

is retaliating of course because the united states decided to go ahead with plans tariffs on european union exports of steel and aluminium in earlyjune. so far, investors haven't been worried that these tariffs could impact companies' bottom line. the question is whether or not that ease will continue when they actually go into effect today. let's talk more about that. joining us is lucy macdonald, cio of global equities at allianz global investors. good to see you. the tariffs are in full force from now? jess. the stock markets have begun to be more concerned this week. having not really put too much of a discount on until now. i think it is just beginning to come onto the radar screen a bit more. the assumption has been, and continues to be, that

sense will prevail. and that it is very difficult to have a positive outcome from a trade war. that is the assumption for markets still. but that has been challenged this week. even if you add up what has been put on so far, and even the 200 billion trump is talking about against china next, we're still talking about less than 1% in fact, considerably less. but that assumption that sense will prevail is definitely being challenged more. there is more uncertainty about it this week. let's talk about greece. they have been offered a ten year referral on its debt. talk us through what this means exactly. this has been going on in the background for years, as you know. we were coming up to the end of the package for greece in august. we

have now seen an extension. we have seen a have now seen an extension. we have seen a ten year extension. the amelioration of the impact via the interest rate. that means that it isn't going to be an immediate crisis. as far as europe is concerned it is just the last thing that would be needed, considering what is going on in italy. thanks very much. still to come... we'll have a look at the battle for online video and the other big tech stories of the week with our tech guru rory cellan—jones. you're with business live from bbc news. the treasury is not "the enemy of brexit." that's according to philip hammond, who gave his annual speech at mansion house last night. the chancellor of the exchequer also used his speech in the city of london to say that the uk needed to protect patterns of trade with the eu that have been "built over decades". with us now is yael selfin,

chief economist at kpmg. welcome. what did you make of what you heard the chancellor say last night in his speech? very interesting. on the one hand he was very much saying we will need to continue hopefully trading closely with the eu. but on the other hand he was saying actually we have a rigorous and strong regulatory environment here for financial services. therefore we want to keep that. and we want to be trusted and trade in financial services in a slightly different way to watch the european commission is proposing. there is a disconnect uttering what some ministers, like the foreign office, might think about it and how the treasury is perceived. —— there isa the treasury is perceived. —— there is a disconnect with what some

ministers. i think he was really positive in this end he was really trying to go towards business and try to find what they want out of brexit, so hopefully he has done quite a lot. and of course he needs more money, doesn't he? in terms of getting enough to boost nhs spending. do you think he has wriggle room within what is going on now with their economic imbalances that a brexit could bring? so we had very positive data on public finances yesterday, but that really doesn't —— doesn't really give him enough room to pay for the spending on the nhs. from what he was saying yesterday it means we should expect an increase in taxation in order to pay for that, and it would probably be the bulk part of it. ok, yael, thank you very much indeed. just a quick look

at the bbc business pages, online. the lead story is airbus, that it could exit the uk, but they're also looking at oil prices going up. it is just loading looking at oil prices going up. it isjust loading their... looking at oil prices going up. it is just loading their... with that meeting going on in vienna as we speak, the opec meeting, but iran are furious about what is going on. you're watching business live — our top story: the aerospace giant airbus has warned it could pull out of the uk, risking thousands of jobs, if the government can't agree a brexit deal with the eu. a quick look at how markets are faring... despite the false in asia overnight, hitting a six—month low, they are opening in positive territory. as you can see here. and now let's get the inside track on all the big tech stories of the week. facebook and google could feel the pinch from some big changes to eu copyright law and the competition for online

video is heating up. our technology correspondent is rory cellan—jones. you are here. i am additional! laughter our tech guru. this is a big one, changes to copyright law. what does this mean —— i am here! changes to copyright law. what does this mean -- i am here! yes, there has been an absolute storming quarters of the internet about this. tech leaders, including the creator of the world wide web, he has signed a letter saying this could mean the end of the internet as we not, yet it has made little political splash. there is two measures, article 18 and article 11 —— article 13 and article 11. and they put much more on websites to check content. article 13 in particular, not allowing users to upload copyright

material. it will not affect the likes of facebook and google because they have the power, the resources, to do this. the fear is from those objecting that this will put huge pressure on tiny websites who could face big planes if their users, you know, put a video up that belongs to somebody else —— they could face big fines. it is also said it could be the death of the meme, where people mix and match different videos and still is to create something viral, and it could fall foul of these measures, but the politicians say it is needed to protect the rights holders, and of course the rights holders, and of course the rights holders agree. and we are too old to know? everybody over 25, which may include me, may include you two, who knows? we are forever 21, ok. you're probably very well informed. but

twitch is a platform where other people go to watch mainly other people go to watch mainly other people playing video games. it is usually popular. it has an audience somewhat close to the people watching news channels. so boring! why would you do that? yes, why would you watch people playing games? nobody is interested in people taking balls around. and the people taking balls around. and the people doing this can earn a lot of money. the stars of these streaming platforms can earn... one star is rumoured to earn $500,000 a month from doing this. right, where is that video? laughter and new development in this field because twitch already faces challenges from youtube, is doing pretty well, and instagram comes along and is launching its own video platform, up to 60 minutes of video you gambled on the instagram now, and i've been talking to the co—founder and ceo of twitch, and i asked him about this whole new raft of competition. game streaming is huge, and from my point of view it's kind

of a bring—it—on situation. i think that consumer choice is good, i think streamers deserve to be on the best platform. in my opinion, no one else comes close to delivering the experience for streamers that twitch can. so that is the chief executive of twitch. but it's a really vibrant field. it is a whole subculture, lots of companies vying to be the place where people go to watch other people playing games. and they do road shows where you can watch people play it for real, so you can buy tickets to watch people play a game in real life. yes, e-sports is a growing phenomenon, and it is probably a culture that some of us are probably quite ignorant about. right, let's talk about tesla, they

a lwa ys right, let's talk about tesla, they always come up with the goods. yes, this week they are accusing a former worker of hacking into their systems and spreading confidential information. this former workers —— worker has hit back and said he was a whistle—blower. shows how that company is doing great things but also having great problems, in the ramping up of its new model, and of getting the course to the people who have ordered them in time. and in getting into profit in time, which it is promising to do. their disclosure agreements must be as watertight as you would get, though? i would imagine so. rory cellan—jones, our tech guru, thank you very much! and if you want more of the latest tech news you can catch rory‘s ‘tech tent‘ programme on bbc world service radio at 11100 gmt — that's 3pm in the uk — and if you miss it you can download the podcast from our website. just search for bbc tech tent. or else i

orelse i am or else i am going to come and get here. or rory well. even less scary. —— come and get you. 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 with all the day's business news as it happens on the bbc‘s business live page. there is insight and analysis from our team of editors, right around the globe. and we want to hear from you too. get involved. we are on twitter. and you can find us on facebook, at bbc money. business life, on tv and online. what you need to know — when you need to know. what other business stories has the media been taking an interest in? lucy is joining us again to discuss. let's not ignore you! one story we asked you to talk about was the story of the intel boss asked to

step down for not telling everyone about his affair with an employee. what is your take on this? should workers have relationships with their co—workers? workers have relationships with their co-workers? from a company point of view it is not the point of policing amorous adventures but about maintaining pay and promotion integrity structures, so it is about transparency. if something is going on within a team and there is a direct report, there should be some transparency about it, and then some shift injob transparency about it, and then some shift in job descriptions can be made, and! shift in job descriptions can be made, and i think that was the issue here. there was a report that contravene their internal policy. what is interesting about this, it was a historic affair, so it had happened previously. an investigation had come to light, i don't know if there was a whistle—blower or something, and he admitted to it, so there may be people literally all over the world looking at what their rules may be in the company, and they may not have any at all. let's have a look at the story of the tablet. it says

intel faces big challenges as he exits after a third... we have had a lot of tweets about this. one says, "don't hang with co—workers, don't go out and drink with them, and only have them on social media if we had a pre—existing relationship before him," but how can you not hang out with co—workers? isn't it part and parcel of this place, working in the city, within your company, socialising with people? yes. and, asi socialising with people? yes. and, as i say, i think it is about whether there are direct reporting lines and whether you are maintaining that in a proper, professional way. lucy, maintaining that in a proper, professionalway. lucy, thank maintaining that in a proper, professional way. lucy, thank you for coming in. good to see you all. thanks for watching us on business live this morning. 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. actually, no, we won't! tomorrow saturday. we'll see you on monday!

good morning. another sunny day for most parts of the uk but the uv levels are very high today, the highest they get here in the uk. it will be warm as well. a little higher than this today and then they will be gradually creeping up as the strong sunshine and high—pressure weather continues. it was rather chilly yesterday but that cold air is moving away and we will see things gradually warming up over the next day or so. last night was pretty chilly, temperatures in the three or 4 degrees in some rural parts of england and wales but they are now responding to strong sunshine. we will see some very high levels of pollen too, yael selfin england and wales in particular, but more cloud in the north and west, when slighter than yesterday, so it

will feel warmer, but the cloud given a few spots of drizzle in the north, the temperature is held at about 12 or 13, but for most of us they will be a degree up on yesterday. that process continues, not by night of course. we will see clearing skies again and it will turn reasonably chilly, considering how strong the sunshine has been through the day. again, more cloud for western and northern isles and that will be with those dull saturday. these are the zones with the high—pressure elsewhere and we should see plenty more strong sunshine, and infact should see plenty more strong sunshine, and in fact very little cloud around the coast where there will be some refreshing sea breezes. as temperatures rise it will still bea as temperatures rise it will still be a bit more refreshing read the ghost. saturday dawns on a bright and sunny but rather chilly note. —— more refreshing around the coast. temperatures and notch up again, in the southern half of the uk, very

similaron the southern half of the uk, very similar on sunday but by that stage we are even including the guideway from the western and northern isles, certainly by lunchtime, temperatures in shetland to respond. again, 2526 by the end of the weekend in the south. then ridgersjust —— 25 or 26 by the end of the weekend. then they continue to rise. we could see 30 in the latter part of the week. more, as ever, on the website. bye—bye. hello it's friday, it's 9 o'clock, i'm chloe tilley, welcome to the programme. a teenager who suffered a brain injury at birth tell this programme she is "angry" that it was not avoided. becky tyler has severe quadriplegic cerebral palsy and was born starved of oxygen at east surrey hospital in 2002. health bosses say they're sorry. she tells us her story. also ahead: the impact our clothes have on the environment and why a group of mps are so concerned they're launching

an inquiry into the sustainability of the fashion industry. 70 years after the first caribbean migrants arrived on the empire windrush to help rebuild britain — a thanksgiving service will be held later today.