iran's leader is in europe trying to salvage the remnants of the nuclear deal — but can the eu make it work without the us? live from london, that's our top story on tuesday the 3rd ofjuly. president rouhani is in switzerland today in a bid to drum up business and find out how serious the eu is about continuing to trade with iran. screen also in the programme... president trump's white house is seeking to block china's biggest phone carrier from operating in the us — as the administration once again cites national security concerns. the markets are looking like this, it has been a rough ride in asia and

we will explain why. now we all know exercise for the body is good for us — but what about the mind? we'll meet the man with a mission to make workplaces work better — by improving behaviour, culture and ethics. and after a nationwide recall of pint glasses for being too smal we want to know are you noticing shrink—flation — products that are or appear smaller than before — but are the same price. let us know — just use the #bbcbizlive. hello and welcome to business live. we start with iran. the country's president kicks off a european tour today to salvage what remains after the us pulled out if the nuclear deal in may. president rouhani is in neutral switzerland today and then austria, which holds the eu presidency, on wednesday. europe has repeatedly said it

wants to uphold the deal without the us, and the reasons are at least partly economic. last year, the eu exported over $12.6 billion worth of goods to iran and imported $11.6 billion, an 84% rise on the year before. and there are a number of business deals that hang in the balance. total has a $4.8 billion agreement to develop an oil field in south pars and airbus has sold 100 planes to iran 7 worth about $18 billion. john bolton, the american national security adviser, warned at the time that european companies had six months to cut economics ties with iran or face sanctions themselves. with us now is marcus chenevix, a middle east and north africa analyst at the financial firm ts lombard. good morning. thanks for being on

business live. you were listening to some of the numbers that ben was mentioning. you can see there is a strong and important relationship between iran and europe. the question is, what happens next? 50, for question is, what happens next? so, for rouhani, he believes the only hope for iran diplomatically is to not talk to the trump administration. there is no dialogue to be had. and you think he is right? rudy giuliani was at a rally last week, talking about force against iran. so he is probably right. he's trying to exploit the open water between the american and european positions. but one that needs hard economic results out of this visit. he can have a nice chat in switzerland and austria, but that is not enough. right now there are protests about the economic situation in teheran. he is being attacked from the streets by protesters, in parliament by the

conservatives, the speaker of the arabian parliament. he is being hit on both fronts. the only way that he can get himself out of this double—blind is by coming back from europe with some kind of economic reward for his people. what can president rouhani promised his people, what can europe give him? we have mentioned the likes of total and airbus, having important relationships, but when the us is threatening sanctions, we don't know if they were followed through or not, the end of the day, the us does control the financial system, payment in us dollars. where can we go? what has been interesting is that prior to this visit to europe uranium media has been briefing that rouhani expects an economic package. but the european media and european sources have not said anything of the sort. —— iranians media. every attempt to do business with iran has failed. blocking resolutions didn't do it, i don't see how this will work. what does this mean for the

iranian economy, and the price of oil? we should expect half a million barrels of oil at least a day to come out of global supply as a result of the sanctions. i don't see how the iranians could continue that. we need to start talking about prices in the iranian economy. thank you, that has been really interesting. we shall keep you up—to—date with how president rouhani progresses this week in europe. let's take a look at some of the other stories making the news. societe generale has agreed to buy commerzbank‘s equity markets and commodities business. the two banks haven't disclosed a price for the deal. commerzbank says the sale of the unit was in line with its current strategy, which invovles divesting non—core assets to raise capitalfor the firm's core banking franchise. facebook has another glitch.

facebook has admitted a glitch in its network allowing people you blocked to temporarily be able to see your profile. the company said it would inform those affected — about 800,000 users — via a pop—up message. does that mean that you can see my profile? have you blocked me!? firms are running out of patience over the lack of progress in the brexit talks, according to a major business organisation. the british chambers of commerce has published a list of 23 "real—world" questions that it says urgently need answers. the list covers subjects including vat, tariffs, customs and regulations. just when you think you know somebody! blocked! the us has moved to block state—owned china mobile from entering america's domestic telecommunications market, citing national security concerns. it comes just days before the world's two largest economies are expected to impose trade tariffs worth billions of dollars on each other. with us now in singapore is katie silver. nice to see you. tell us more about

this latest twist in the trade spat between the us and china?m this latest twist in the trade spat between the us and china? it is indeed the latest twist. china mobile's shares were down about 2.6% on opening from this news and have not recovered since. it dates back to 2011. that is when they first applied to start trading in the us, the world. the largest telecommunications company. the issue is, they are about three quarters stay down. according to the trump administration, in a statement, they say that the state ownership makes them subject to exploitation, influence and control by the chinese government and therefore it poses significant and unacceptable national security and law enforcement risks. this goes back to february, when basically a group of us spy chiefs and senators all came out and said that china may

be implimenting, you know, trying to disrupt national security when it comes to the infiltration by chinese telcos. it comes ahead of a looming deadline when we are going to see any order, potentially, of $34 billion of tariffs put on by washington to beijing. staggering. we will see what happens with that. for now, thank you. you saw the stats on the screen, it has been a pretty mixed session. let me show you what is happening on europe. all eyes on what is happening in germany. angela merkel finally reaching a deal on immigration, which should end the row threatening to break up the coalition government. that was a worry for investors, there was a worry that there could be snap elections. in there could be snap elections. in the uk, we are looking at the latest

construction figures. they bounced back pretty strongly last month. activity in the construction sector is expected to stay busy injune. that would be a good sign, given what we have seen of late. we will talk about that in a moment. paul blake has info about the trading day on wall street. well, data drives the day again in new york. first, ourfactory orders for the month of may. this is the dollar value of both durable and nondurable goods shipping out from us factories. the last measure we got was in april, when it decreased by about 0.8%. this time around, the market is expecting it to come in unchanged. also coming down the pipeline are total car sales for the month ofjune, with driving traditionally core to american culture this measure is often seen as a proxy for the health of the broad us economy. the market is expecting the industry to announce that it sold around 17 million cars last month, up slightly from may, but looking out over the long term it is shaping up to be the worst year for car sales since 2014. meanwhile, the prospect of possible

new car tariffs has made the industry anxious. beyond that, traders are looking forward to early release, with markets here closing just after midday as they start celebrations for wednesday's independence day holiday. thanks, paul blake, part of the team from new york, he will be enjoying a day off. simon derrick, chief markets strategist, bank of new york mellon. paul was mentioning something very important, independence day. wall street closed. the volume of trade yesterday was 20% lower than normal. a lot of things were exaggerated in these markets? that is true, it is also generally true thatjuly and august are bad for markets, precisely because you have this illiquidity. look at the statistics for the last 20 years or so, you don't want to be around at this time of the year. july, particularlyjuly

the 4th, will be tough. lets get your take on the china tariff row, affecting the numbers now. massive ta riffs affecting the numbers now. massive tariffs from either side. we always say we know it is bad for business, but it is bad for business? it is, bad for markets, particularly bad for china over the last month. heavy hits to the equity market and the currency, maybe a slight feeling that china was not that unhappy about the weakening of the currency giving an advantage, maybe it got a bit much for them today. there was a sense they had gone too far. there we re sense they had gone too far. there were rumours about intervention on local equity and currency markets trying to stabilise. is the un getting weaker because of this concern over the impact is not —— the currency. there are no interest rate advantages of being in china, and partly they have not done anything to stop it falling. maybe they were happy to have a weaker currency. in all honesty, because it

is the day the tariffs start to come m, is the day the tariffs start to come in, ithink is the day the tariffs start to come in, i think it will be the more dominant story. simon, we will be back later. we will be talking about shrink flation. still to come, making workplaces work better. we meet the man who says behavioural science can help improve culture and ethics for firms, and why it matters. you're with business live from bbc news. hope you are going to be tuning into that! nearly 80% of builders and home owners say they'd support a new licensing scheme to stamp out rogue traders in the construction industry. that's according to a new report by the federation of master builders which is calling for new, tougher regulations to protect consumers. joining us now is brian berry, chief executive of the fmb.

good morning to you. i am really surprised, and many people will be, given all of the trades that are regulated, builders are not? that's right, builders are the last people to be unregulated. it is a free market, which is why consumers are suffering at the hands of cowboy builders. it's not just suffering at the hands of cowboy builders. it's notjust consumers, also sme builders that want the regulation to professionalise the building industry. what do you want to see happen? when we talk about licensing and regulation, what happens and he will pay for it? we wa nt to happens and he will pay for it? we want to see a licensing authority set up that will be paid for by the construction industry. it will deal with the checks to make sure that consumers are getting a competent builder and they are insured. i think it provides the reassurance thatis think it provides the reassurance that is required. at the moment, anybody can call themselves a builder. that is undermining and damaging the reputation of the

building industry. don't i know it! you need government support for all of this, don't you, to get everybody on board. it will only work if you have consensus. what happens next? you need to get everybody signed up? yes, yesterday we launched our support in parliament and we had cross— party support in parliament and we had cross—party support from the labour party and the conservatives. we need to have a consultation with the industry and consumers to work out how this would work in practice. we have established the principle, now we need to work out the mechanics of how licensing authorities would be delivered. brian, thank you very much for explaining that. come back and tell us how it is going. much for explaining that. come back and tell us how it is goinglj much for explaining that. come back and tell us how it is going. i let the little girl lived through ben's extension —— i lived through then‘s extension. glencoe is facing a money—laundering

investigation by the us department ofjustice. it investigation by the us department of justice. it is investigation by the us department ofjustice. it is all to do with operations in nigeria and the drc. your're watching business live, our top story: iran's president is in europe for a two—day visit to talk trade and see if there's any way to salvage the nuclear deal now that the us has withdrawn and threatened sanctions for anyone doing buisness with the iranians. now let's get the inside track on workplace wellness. it isa it is a real buzz word at the moment, it is a growing concern for many in business, more and more firms are not understanding how to look after their staff, and therefore affect their performance and profitability. most firms prioritise the physical wellbeing of their employees, with things like rest breaks, healthy eating options or adjustable desks.

but there's now a growing realisation that the mental health of staff is just as important. and one firm that's encouraging more businesses to consider staff mental health as well as improving culture and ethics at work is mind gym. it wants to transform performance by changing the way people think about work. we have its creator in the studio. 0ctavius black, ceo of business psychology firm mind gym. welcome to the programme. this was an idea berthed in your kitchen in 2001. where did it come from? we think that science will be to the mind in the 21st—century, what medical science was to the body previously. we have a set of advisers. do you like your board meetings? i get a lot from them. the

gym bit is about using your mind is better with behavioural science. we talked about mental health, that is just one of the things you do, training courses to make people think about how the workplace should work. be that ethics, culture, gender representation, diversity, all of those things are included? absolutely, you mentioned a story about glencoe or, not a client, but many in the ftse100 are, and we help them with problems like how do you create an environment where people are less likely to make transgressions. is it tokenism? you know, the ftse100 company gets you quys know, the ftse100 company gets you guysin know, the ftse100 company gets you guys in for a couple of days, runs some workshop, they can tick a box saying they are looking after employee mental health as well as physical health? quite the opposite, it is about getting better results faster. changing a poor managerfor a good one increased productivity by

13%. adding a new person to the team added only 11%. what do you teach? a range of skills. we know that feedback can be helpful and it can do harm. we know that as a parent as well. what kind of feedback makes the most difference, it is not evaluating people, saying there are brilliant, terrible, lazy, but it is more descriptive, i notice you are on time. we are understanding what behavioural science reveals and what changes behaviour, rather than what people think should change it. how do you measure a return on investment? the staff paying for the courses, the firm is paying for it, they want to see a return. the queen —— you can measure physical well—being, but how do you measure if somebody has got the culture? we measure things like diversity, we hopped a major financial services organisation increase the representation of women and bme, a significant shift. a retail bank,

the worst for customer service in the worst for customer service in the uk, they became the best two yea rs the uk, they became the best two years ina the uk, they became the best two years in a row, all by using behavioural science techniques. years in a row, all by using behavioural science techniquesm terms of where you go next, what is your thinking? many of the companies provide this sort of service, it is a real buzz word, especially the issue of diversity. certain companies like financial services, in the boardroom. what else is happening at mind gym to make sure you are still around in ten years? so many others do, but behavioural science is just so many others do, but behavioural science isjust coming of so many others do, but behavioural science is just coming of age. so many others do, but behavioural science isjust coming of age. we floated the business last week. the impression is, sorry to interrupt you, the self—help books, managerial books telling managers how to do things, they are everywhere. there are many courses available. what is different about mind gym is that it

is evidence based. i gave the example of medical science at the beginning of the 20th century, people would use bleeding, leeches, it worked for their grandmother, this new penicillin thing, is it really necessary? medical science transformed longevity and health, and behavioural science will do the same on the 21st. we are evidence based, factual, proven to work. millennials are sometimes the bane of the life for many traditional firms because they like to switch jobs, they like newfangled gadgets, a different culture. how do you get old firms to understand the new generation of workers? the new generation of workers? the new generation is not as different from the old generation as you might imagine. we all like doing work that matters, developing skills that are important, we like being noticed. these attributes that millennials are encouraging firms to show, was that we want to adopt as quick as possible. it has been fascinating

for some very interesting chat. thanks for coming in to tell us about mind gym. i am sure many bosses were listening. not ours, of course! digging yourself a hole. do you know what we're doing next? we will look the papers shortly. but first a story that's got a lot of people talking is roger federer appearing for his first match at wimbledon not wearing nike, his usual sponsor, but uniqlo instead. the new contract is reportedly worth $300m over the next ten years. sharanjit leyl has the details. the tennis star had not said anything public about this new sponsorship until he popped up on the tennis court at wimbledon, donning the japanese brand. uniqlo only confirmed the partnership on twitter. it was essentially reported on the sports news site espn that distant billion—dollar price tag of

his new deal, but uniqlo has not shared the specific term. —— $300 million. his deal with nike expired in march. he first signed with them way back in 1994. this partnership had been a long time coming. as you can see, simon is back. simon and i have a long—running thing, we bet on wimbledon. who is your money on? have a long—running thing, we bet on wimbledon. who is your money 0mm can't be andy murray this time! he is not playing. federer, then. we shall see. explain this story in the telegraph today, a pint a scam, a major restaurant chain has not been revealed, but it has been caught serving beer in special glasses that are too small? exactly that! trading standards went in after a complaint and found i think it is 8.1

millilitres too small. clearly, shrink—flation is the story. there are two shrink—flation is the story. there a re two u na nswe red shrink—flation is the story. there are two unanswered questions. who goes into a pub and measures their gas? i mean, ithink that goes into a pub and measures their gas? i mean, i think that is a very keen question. —— glass. gas? i mean, i think that is a very keen question. —— glasslj gas? i mean, i think that is a very keen question. -- glass. ithought that was odd. but it is all about standards. and who produces glasses that are just a little too small? maybe it was just an innocent mistake? well, the paper doesn't reveal which restaurant chain it is, but it is a uk wide restaurant chain, if you reduce your beer output by a few millilitres per glass, if you are a big corporation, it makes a difference? it does... but presumably it costs a lot of money to produce nonstandard sized glasses. how much are they standing?

—— saving. glasses. how much are they standing? -- saving. mike says, it begs the question, why was there no prosecution? the investigation is ongoing, that is the answer. martin says people have been complaining about alcohol measures since it was invented! more people in the world to feed, hardly helped police behind it? -- to feed, hardly helped police behind it? —— are the health police behind it. president trump, americanjobs, a great headline, but is it a real problem? what is interesting is that this is ultimately about us politics rather than if it is a genuine threat. this is the us chamber of commerce, typically a republican party supporting group. it is making a point that they believe there is going to be losses in states like alabama which, fully enough, our

republican voting. so if the talk of a trade war is aimed towards getting domestic support ahead of the november mid—term elections, maybe they are trying to bring pressure to bear on president trump to back off because they think it might be a problem. will it make a difference, does he care? that is a really good question. probably not, precisely because it is about the headlines. what is your outlook for the silly summer season, are we going to see major volatility, like we have done? can we rest a little bit as traders and investors? ben answer the question, absolutely not. precisely because the trade story is so big. china is a huge thing for the markets. it always blows up injuly or august. we will bank on that, and maybe even roger federer. thanks. we will be back at the same time, same place, tomorrow. the heatwave is set to continue

across much of the uk for a while. certainlyjune across much of the uk for a while. certainly june was across much of the uk for a while. certainlyjune was a storm as far as the weather was concerned. it was one of the driest on record, particularly across parts of england and wales. the highest amateur in scotla nd and wales. the highest amateur in scotland ever recorded, 33 degrees, the 28th of june scotland ever recorded, 33 degrees, the 28th ofjune in motherwell, just outside glasgow. not quite as hot across scotland this week. things will cool off to be pleasant in the second half of the week. still a very warm week ahead, sunny for most of the time and very little rain in the forecast. the rain will come courtesy of one or two showers, linked to an area of low pressure in the bay of biscay. most of those are still under an area of high pressure. the start of the day with low cloud, saudi scotland, north—east england, most burn ——

south—east scotland and north east england, most will burn back to the coast. temperatures are at the highest away from eastern coasts, where it will be the high or mid—teens. for most, the maid or high 20s, down a little bit on yesterday's values thanks to be fresh start. easiest across the south, the wind is very light of further north we go. a bit of a breeze at wimbledon, but the sunshine turns hazy. lighter wind through the next few days and temperatures will rise as we go towards the end of the week, and the weekend. as for the night, a bit more fresh and comfortable for sleeping. that is where we start wednesday. a few showers to the west. a bit more cloud across southern counties of a gland and wales. more cloud for northern england and scotland. a lot of it will break up to sunny spells. 0ne or two will stay grey through the day and temperatures highest in central and western areas. the mid—20s for the vast majority. high

teens around some of the coasts. as we go towards the end of the week there will be a few convocations. this weather front will bring something a little bit cooler with a chance of some showers in the northern parts of scotland. temperatures drop a little bit for thursday and friday. further south, set to rise once again. by the time we hit the weekend, temperatures across the south—east could be at 22 degrees or 32 degrees. hello, it's tuesday, it's nine o'clock. i'm victoria derbyshire, welcome to the programme. rescue teams are trying to get food and medical help to the 12 children and their football coach trapped deep in flooded caves in thailand. there is concern that if the water

levels go up again, they will have to keep going back to the boys and support them as best they can in the caves until the water levels drop again to be able to get them to the next chamber beyond where they are at the moment, and that is at least five kilometres into this cave network behind me. we'll have all the latest on the rescue