this is business live from bbc news with sally bundock and maryam moshiri. the biggest aerospace show is in full swing here in the uk with billions in deals about to be done — but will brexit, rising oil prices and uncertainty over trade weigh down company's wallets? live from london, that's our top story on tuesday 17th july. and we re live at the farnborough air show with aaron heslehurst, who s talking to a top boss at bombardier. $2.7 trillion, 63 millionjobs. that is what this industry lands are global economy every year. i will be speaking to one of the big bosses of

canada's bombardier. i am also going to look at the industry that puts all that stuff under our bombs, stuff we can't live without, apparently. i will see you soon —— the stuff we put under our bums. also in the programme... the crown has slipped — shares in netflix plunge in after—hours trade on wall street — as the streaming giant disappoints — adding fewer new users than expected. and it's a downbeat day for financial markets in europe as investors assess whether corporate earnings can deliver on high expectations. also in the programme, we get the inside track on the multi—trillion dollar air cargo industry — which accounts for 35% of all world trade. and after those disappointing netflix results we want to know, are you still a fan or have you switched off netflix — if so, why? do get in touch. just use the hashtag #bbcbizlive. hello and welcome to business live.

the global aviation industry is gathering at the farnborough air show here in the uk — it's the biggest aerospace event of the year. over 1,500 exhibitors and 100,000 trade visitors are expected to attend one of the most important events for the global aviation industry. 2018 is expected to be a bumper year, with net profit expected to top more than $3a.5bn according to the international airport transport association. strong demand, efficiency and reduced interest payments are all help airlines improve their bottom line, despite rising costs and uncertainty over issues like international trade and brexit. the word uncertainty is used all the time. but will that be felt at farnborough? the last trade show saw a whopping $12libn worth of deals done.

in july, airbus fully tookover bombardier s c—series planes, rebranding them the a220. it s already had an order from jetblue for 60 planes 7 is thatjust the beginning? aaron heslehurst is in farnborough. how is life down there in the sun? them to get to brown, i mean orange! you're so rude! don't worry about that. sal just rattled you're so rude! don't worry about that. saljust rattled off a bunch of numbers. it is a huge industry. $2.7 trillion every year, 63 million jobs rely on this industry. think about this. every single day of the year, 100,000 flights take to the

skies carrying 10 million passengers injust over $18 billion skies carrying 10 million passengers in just over $18 billion of stuff and make those planes. sal also mention that this is a show that is every two years. in 2016, they did billions of dollars here and there area billions of dollars here and there are a lot of companies hoping to get are a lot of companies hoping to get a slice of that and more for 2018. let me bring in fred cromer, the president of commercial aircraft that canada's bombardier. there is lots going on, especially in your corner of the world. canadian company and nafta, what is going on? are you worried that the trump administration could pull the plug, and what with the implications be for bombardier? it is something we are paying attention to, because it is important to our industry. we promote free trade and we have a global supply chain, so it is something we are focused on, but we are mauve focused on the fact that oui’ are mauve focused on the fact that our industry continues to grow.

administrations come and go. but the consistency of passenger traffic translates into consistent demand year over year. that is what we are focusing on. administrations do come and go, but there is one current administration in washington at the moment that is eager to start a trade war, with tariffs being thrown left, right and centre. boeing's boss said he was concerned. you must be concerned. 0h, sure. it does impact our supply chain and that is why we are focused on it. but if you look at how things are evolving, we will be in good shape. we are focused on delivering these aeroplanes and protecting our supply chain. brexit is obviously a big issue here. you have about 4000 staff here? 4000 dustbin as space. —— just staff here? 4000 dustbin as space. ——just in staff here? 4000 dustbin as space. —— just in essbase. staff here? 4000 dustbin as space. -- just in essbase. that is here in the uk. how are you managing all of

this at bombardier? again, we have made our opinions known. we are proponents of free trade. it is all about the supply chain. we are advocates of making sure there is economic growth in this region but supports the aerospace industry. it is important to the uk. that is something we are focused on. i think things are moving in the right direction. we hope we are in good shape. so we have you and airbus and we now have boeing. was that inevitable? the little guys, in terms of the size of the aircraft, joining up with the big guys? it's a perfect fit to have the c series as a memberof ourfamily. perfect fit to have the c series as a member of our family. now that family can cover 100 seats up to the largest airbus family member, the a321. it's a great offering for customers. a little different from what boeing might do. we will see

how it evolves. there is a long road between announcing a transaction and getting it approved, so we will see. right now, our joint—venture getting it approved, so we will see. right now, ourjoint—venture with airbus has hit the ground running on july the ist. we have announced a huge order withjet blue and there is more to come. sal and moshi, i will hand back to you. when you come back, could you sort out all the people making that noise in the background? you mean the planes? i mean that giant hoover that was making all that noise. aaron loves his engines. here's a petrol head. see you later! let's take a look at some of the other stories making the news... many shoppers in the us and elsewhere are struggling to access amazon's website —

as one of its biggest annual sales gets under way. many users report the site either crashing or showing an error message. amazon says it is working to resolve the issues. shares in the electric car company tesla have fallen after its chief executive directed abuse on twitter at one of the british cave divers who helped to rescue 12 thai children last week. shares fell 2.75% after elon musk referred to the british diver as a paedophile. the diver is considering legal action. the uk government has narrowly avoided defeat on its customs bill after agreeing to brexiteers' demands to change its wording. the bill survived byjust three votes following a backlash from pro—eu politicians — who accuse the prime minister of caving into demands by eurosceptic mps. the eu is due to sign a new free—trade deal with japan later today. the pact will remove almost all tariffs with the eu making it the largest deal it

has ever negotiated. rupert—wingfield hayes is in tokyo. both sides are calling it a "signal to the world" at a time when donald trump has imposed billions of dollars of tariffs on imports. yeah. there is a lot of hype surrounding this deal, calling it the biggest trade ever ever negotiated by the eu, 600 million people in this new free trade area. but as you say, one of the things about this deal is the timing of it, coming after the united states pulled out of the trans—pacific partnership with japan after president trump in the last few days has referred to the european union asa has referred to the european union as a trade enemy. japan and the european union are coming together to, if you like, push forward with free trade in the face of protectionism and trade nationalism on the part of the united states and some other countries. so it is symbolically important because of that. thanks very much. rupert

wingfield—hayes is our correspondent in tokyo. let's look at the markets and how they did. japan up nearly 0.5% at the close. a weaker yen is helping exporters. this is the first trading day forjapan after it was closed for a public holiday. but we have seen significant falls in hong kong. there are mixed feelings in terms of markets. they are keeping an eye on trade tensions, but also trying to get through all the corporate earnings around the world. let's have a look at europe. you can see they are all fairly depressed. and paul blake has the details of what's ahead on wall street today. there are a lot of new developments to get across, not least earnings from investment banks goldman sachs and morgan stanley, which are expected before the bell. both banks are forecast to post rising profits. there will also be testimony to the senate from fed chairjeremy powell. he'll be updating lawmakers on how the fed's monetary policy is taking

shape in the face of strong economic growth, a robust labour market, and still low inflation. lawmakers will be particularly keen to hear how mr powell views the trump administration's controversial policies on trade. jane sydenham is the investment director at rathbone investment management. let's start with netflix. it is a big company that came out with figures yesterday and its share price was down 14%, subscriber numbers not as good as netflix would like? yes. it is a relatively small miss in terms of the numbers, but the share price has risen substantially. it has more than doubled over the course of the last year, and expectations for further growth are huge in this sector because it really is driving growth. you have also got apple, amazon. and youtube is a competitor. there is concern that maybe they might be taking some market share.

it is an excuse to take profits, isn't it? if you have been holding back netflix. for a while, you could sell a bit of it now. yes, these shares are widely. lots of people have been investors for some time, so have been investors for some time, so it is unsurprising to see a bit of profit taking after such a strong rise. let's talk about oil. it is creeping lower and not getting much ofa creeping lower and not getting much of a mention because there are so much else going on in the news. well, we had a sharp rise and to some extent some of that was to do with iranian sanctions, some of it was to do with port closures and strikes in norway and other things going on. yesterday, the price came down a bit because the boards in libya seem to be reopening. that means that there will be more oil coming out of those ports and more supply into the market, so it takes pressure off the rise in the price. and the price of oil is falling again today. in some ways, that

might bea again today. in some ways, that might be a relief for those who have been battling with the high cost of petrol. yes. it is not as big a worry petrol. yes. it is not as big a woi’i’y as petrol. yes. it is not as big a worry as it used to be, but certainly in some parts of the world, particularly emerging markets, a high oil price is a real problem. and it reduces the costs for lots of companies. we will be back with you soon to talk through the papers. still to come... more with aaron, live from the farnborough airshow. yep, indeed! we are going to be talking about $18 billion of the value of goods they go in the bellies of these planes every single day. we are talking about the importance ofair day. we are talking about the importance of air cargo. you're with business live from bbc news. first, we've mentioned how it is a

busy time for companies telling us about their profits. uk telecoms firm talktalk have posted a trading update for the three months tojune, showing revenue climbed nearly 5%. the firm said customer attrition remained low at around 1.3%, and chief executive tristia harrison predicted talktalk will add 150,000 customers this year. well, let's get reaction from russ mould, investment director at aj bell. what do you reckon? it is easy, because i can just look what do you reckon? it is easy, because i canjust look at what do you reckon? it is easy, because i can just look at what the share price is doing and it is up 6%, so somebody likes them. the reasons are fairly clear. 80,000 new customers added, revenues up, a slowdown in the rate of decline in the amount of revenue they are getting per person. after february's profit warning, no more bad news. the company has stuck to its forecast for the year for customer additions, revenue growth and profit growth. so it is a sigh of relief.

is this a turnaround for talktalk? they had a torrid time for a while. it has been on the back foot for several years. the share price was trading at a five—year low. that is what the chairman and chief executive were looking to effect, a turnaround in the company's fortunes. it is going to take time. they have had to issue a profit warning and cut the dividend twice. so it still has big challenges ahead. the balance sheet is still stretched. it made 90 million of profit last year, but 55 million of that went in interest payments, so it will be looking to get its debts down and it is another company operating in a competitive market. it is banging heads with sky, bt, virgin media. so it will be hard work and there are still some residual reputational issues to address after the cyber hacking affair of address after the cyber hacking affairofa address after the cyber hacking affair of a couple of years ago.

thank you. he mentioned the cyber hacking incident. dido harding was the chief executive them. she was our guest on business live not long before that incident. she is no longer the boss. if you want to go onto our website, plenty on that story and others, including this story and others, including this story about the use of copper in fibre—optic cables. plenty of business stories. your're watching business live — our top story: the biggest aeorspace trade show is in full swing in farnborough — but how will rising oil prices and uncertainty over trade impact the deals being done? now, let's get the inside track on the air cargo industry. every 24 hours 140,000 tonnes of cargo is transported by plane, representing a value of $18.6 billion. in fact, air cargo represents 35% of global trade by value,

but only 1% in volume. let's go straight back to aaron at the farnborough airshow for more on this. aaron, overdue. 200 horses a day for around the world, believe it or not. —— over to you. you mentioned some of those numbers. nearly, $6.7 trillion, it is our tablets, smartphones, pharmaceuticals, rogers, flowers, you name it. something that needs to get from point a two point b very quickly. 0ne point a two point b very quickly. one of the big bosses, have the vice president of sales and marketing, robert van den bergh. we can run some of the pictures of your beast over there. i want to talk about

this. we used to say that a cargo was only the indicator. that's still the case today? was definitely the case. air cargo was disproportionately hit during the economic crisis to those many commenters is a name, and it is rebounding right now so it is in great shape at the moment. rebounding right now so it is in great shape at the momentm rebounding right now so it is in great shape at the moment. it is in great shape at the moment. it is in great shape at the moment. it is in great shape but we are facing a funny old world, different administrations throwing harris—wright, left and centre, whether and washington. that has to bea whether and washington. that has to be a huge concern for company relying on global trade? —— throwing ta riffs relying on global trade? —— throwing tariffs right, left and centre. yes, but the degree of chaos benefits us because air freight benefit short—term, but long—term it is a concern. short—term, but long—term it is a concern. something you're keeping your eye on. if i talk about going from tariffs to brexit, and just wondering, could industry, your company, could you be one of the

beneficiaries of brexit, given that the uk plans to do trade deals with far—flung countries, not just the uk plans to do trade deals with far—flung countries, notjust europe of course, around the world? that could benefit you guys? partially, yes. i mean, forthe uk operation it would be good, for our flights out of the uk it could be good, but i think the uk air freight business would be affected. no matter how much capacity is deployed out of heathrow, stansted, the uk airfreight business relies on gateways like amsterdam and frankfurt and this freight needs to be taken frankfurt and this freight needs to be ta ken across frankfurt and this freight needs to be taken across all specific operators to benefit from that and we will try to, try to limit the damage, but overall i think there is a bad thing for the air freight industry in the uk and for trade in the uk. you mention the word capacity, are there enough freighters or are there too many out there? your aircraft solely carry aircargo, but we there? your aircraft solely carry air cargo, but we have trouble seven passenger plane behind you and a lot of people don't realise today that it is not just

of people don't realise today that it is notjust suitcases, but a lot of stuff going under there. is there overcapacity, or not enough?” of stuff going under there. is there overcapacity, or not enough? i think the freight side we have to remember, because of the long crisis, it took about ten years, there has been underinvestment, so for about 8—10 years airlines were hesitant to order freight, but we are changing that now. we are facing an ageing fleet, and in the next five, seven years it'll start to be replaced and operators will see that. for the airlines, i'lljust ask you, and i know you are an airline in that sense carrying passengers, but air cargo is a vital pa rt passengers, but air cargo is a vital part of their business? some airlines, it represents 30 plus percent of their revenue. yes, i think typically it is about 13%. one couldn't operate at passenger airline comfortably without it, so it is very important. we make it our business to specialise in it, so for us business to specialise in it, so for us it is our core business. indeed. and you carry all sorts of things,

one of the biggest air plane in the world, the russian—made one. you carry some pretty strange stuff? yes, for example, last year we carried a christmas tree across the us to be present at the rockefeller ce ntre us to be present at the rockefeller centre on time. these are examples. as long as things are urgent, air freight gets in the picture, but the more interesting stuff we carry, outsized cargoes that can't... more interesting stuff we carry, outsized cargoes that can't. .. just briefly, where are your growth markets at the moment? at the moment remarkably strong as the european export market, particularly the german export market, and on top of that, china continues to be strong, but we see a kind of shift towards south—east asia, countries like vietnam and indonesia are experiencing a rebound right now, andl experiencing a rebound right now, and i think the current situation, they face a bright future in air freight at the moment. thank you very much forjoining us. have a

successful show it like the first one out of the way for the day but i be here... —— that is the first one out of the way for the day. driving down your voice, few things can, aaron! good to see aaron out at farnborough airshow, really in his element. more from aaron later. jane is back to look through the papers. we will talk a little more about netflix. we spoke about the share price but in terms of the business, it has been around. i was surprised to hear the seller, it has been around 21 years. really? yes, all about stuff on tape, vhs, and that kind of stuff. it was ten years or so ago they became this destructor where they started to stream material, and they were the destructor, and still are the great

degree. everybody is trying to catch up degree. everybody is trying to catch up with netflix, but they are, and thatis up with netflix, but they are, and that is a worry for some? it is. there is quite realistic competition, looking at amazon, apple, youtube, disney, etc, a lot going on in that marketplace which is why i think the share price reacted so sharply yesterday. the problem for netflix, and we see a picture they are of the crown. it needs to keep coming up with this original content, and it costs a lot of money? it does. the whole media market is moving into a content battle, having been all about platforms and access, we yeah seemed to be moving into the year of content and that is what his recent deals have been about, securing the content, that is always changing and improving. and people speaking about people who switch away from netflix then perhaps resubscribe. many of you have been in touch because they askedif you have been in touch because they asked if you're still a fan of netflix or if you have turned it off. rachel said, idiscovered

netflix or if you have turned it off. rachel said, i discovered at about three months ago and barely watched any terrestrial television and now she loved it. this one, it is often terrible, the phones are old, the new ones are rubbish and the rest of it i can get on iplayer. 0h! -- the the rest of it i can get on iplayer. 0h! —— the films are old. a lot speak about the content becoming stale, and that is the thing, keeping the content original and releva nt, keeping the content original and relevant, especially to where you are. people watching in asia will wa nt are. people watching in asia will want a certain type of original comment, and for people in europe as well, so it is difficult to get the right measure of where you are. absolutely. these businesses really need to think about the local content. there is nothing that is global, as such, a few films and series, but not many. and we have picked out the guardian but are many from pages, the heat wave in the uk bringing a hosepipe ban to the north—west of england. 0ther bringing a hosepipe ban to the north—west of england. other parts of the country posed to announce the bands. many parts of the world may be laughing at us, especially in places like cape town where they have been dealing with no water for

many months. it is really quite serious in some parts of the world, whereas here we are worried about, you know, it is a first world problem for many, isn't it? yes, two things, really. the reservoir levels have dropped a bit, certainly, but i think also the concern is the leakage, the wastage of water. around 30% of all water going through these underground pipes is wasted anyway, so i think that is also... plus, we love our grass to the green. everybody has their sprinklers on. cani everybody has their sprinklers on. can ijust everybody has their sprinklers on. can i just say, everybody has their sprinklers on. can ijust say, astroturf is the way to go forward? it can melt in the sleep! stick on the flip—flops. may the hot weather continue here in london, i have to say, i am enjoying it. if you're in the thick grass

business, get in touch. thanks for watching. bye—bye. —— melt in this heat. hello. yesterday was another hot and steamy day across eastern parts of england, temperatures widely above 30 celsius and infact temperatures widely above 30 celsius and in fact it was 31.5 in gravesend in kent yesterday afternoon. but in com plete in kent yesterday afternoon. but in complete contrast, for, us some rain, heavy showers and thunderstorms through yesterday evening. look at that dramatic photograph from darlington yesterday evening. but those showers have mostly cleared away. in the north sea, and you can see from the satellite imagery we are a weather system leading to the north—east. for many, and i starts into the day. still a few showers moving into scotland, northern ireland perhaps northern england, and even perhaps the odd isolated shower across wales, the midlands and eastern parts of england during this afternoon, with the fresh feel the conditions across the south—east. temperatures only getting 222—25.

elsewhere, fairly similar to yesterday. through this evening and -- 22-25. yesterday. through this evening and —— 22—25. there will be some clear spells into the early hours of wednesday morning in scotland. 0vernight temperatures down to around 10—13d. wed in a stable sort of largely fine and dry for most of us, some sunshine. —— wednesday will start off largely financed drive. some showers dotted and the action but they will be isolated, no significant rainfall on wednesday. lots of sunny spells and temperatures starting to creep up a little. 27 celsius in london. high—pressure dominate things throughout wednesday and indeed into thursday, but you just notice this low— pressure area thursday, but you just notice this low—pressure area coming out of iceland, throwing weather systems ahead of that, so increasing amounts of cloud across the north west of scotla nd of cloud across the north west of scotland on thursday. elsewhere, on thursday, it should be another dry day, and lots of sunshine. it will turn even warmer. look at the red

starting to build. 0nce turn even warmer. look at the red starting to build. once again, the heat is with us across much of england and wales. temperatures widely in the mid to high 20s, 29 celsius in london. and very similar again across scotland and northern ireland, that rain moving in from the west. friday, we keep the hot weather for england and wales, still the risk of one or two showers, still the risk of showers in scotla nd still the risk of showers in scotland and perhaps northern ireland but it will dry out into the weekend. for most, that weekend looking dry with some sunny spells. bye— bye. hello, it's tuesday, it's 9 o'clock, i'm victoria derbyshire, welcome to the programme. no watering your garden, no filling the paddling pool and no washing your car using a hosepipe. seven million of you in the north west of england are going to be affected by this hosepipe ban. we are planning ahead now. we are looking to see what the weather forecast is going to be like for the next few weeks. we think we are

going to see prolonged periods of dry weather, so we are taking action so that we can protect essential water supplies for everybody. tell us what you think about the impending ban. a crisis for those wanting help from rape crisis — fern champion was raped two years ago and tried to get counselling from several rape crisis centres, but the waiting lists were closed. she's waived her right to anonymity to speak out.