this is business live from bbc news with ben bland and vishala sri—pathma. back from the brink — president trump and eu chiefjean claude juncker agree a deal, avoiding a trade war. live from london, that's our top story on thursday the 26th ofjuly. the two leaders agreed to work towards zero tariffs and no barriers in a number of areas in a much—welcomed de—escalation. also in the programme, losing friends on wall street — facebook shares slump as much as 24% as revenue and user growth disappoint investors. we will keep across the markets. that is the picture across europe at the start of the trading day. the daily indecision of what to wear to work — we'll speak to one fashion firm that

offers clothes for the office as well as some inspirational words from women who wear them. and as facebook results disappoint, have you fallen out of love with the social media giant or do you still like it? let us know — just use the hashtag bbcbizlive. some of you have already been in touch about the facebook story, saying you have fallen out of love with it because it is just angry ra nts with it because it is just angry rants and cat videos. those are just the people who follow me! hello and welcome to business live. welcome to the programme. we start in washington, where president trump and european commission president jean claude juncker have agreed a deal to head off a transatlantic trade war. tensions have been escalating since the us slapped taxes on imported steel earlier this year, causing the eu to retaliate. let's show you some of the details. the us and eu have agreed to work toward "zero tariffs, zero non—tariff barriers, and zero subsidies on non—auto industrial goods".

they will boost trade in chemicals and medicines. and europe will step up imports of us liquefied natural gas as well as soybeans. they have also agreed not to impose any new tariffs while talks are taking place. the us was threatening to slap a tax of 20% on imported cars and parts. the us exports nearly $300 billion worth of goods a year to the eu. but europe exports about $41i0bn to america. and it s that $140 billion trade imbalance that president trump has argued is so unfair. let's listen to what they had to say about the break through. we have identified a number of areas in which to work together. work towards zero tariffs on industrial

goods. that was my main intention. for those to come down to zero ta riffs for those to come down to zero tariffs on industrial goods. the united states and the european union together account for more than 830 million citizens, and more than 50% of the global gdp. in other words, together we are more than 50% of trade. georgina wright is an eu policy expert at london—based think tank, chatham house. thank you forjoining us. lots of trump's supporters will see this as a vindication of his aggressive policy. jean—claude juncker will walk away from this rather pleased with himself? absolutely. there was apprehension over these talks. three hours of talks, constructive. they both said they had reached an agreement of sorts. obviously the eu has accepted to increase the imports

of soya beans. and also, lng. in return for that they will have ongoing engagement and dialogue on how they can reduce tariffs, tariff barriers, and all sorts of industrial goods, apart from cars. and also exploring how they can reform the wto and address some of china's trade practices. very encouraging. let's talk about some of the exports they have agreed to. how significant economically is that? is it more political?” how significant economically is that? is it more political? i think so. that? is it more political? i think so. this is like a big area of production for the us and obviously for trump supporters this is a big sign that president trump is achieving something, he is rectifying the trade imbalance. if you look at how trade between the us and the eu works, us trade in services shows a surplus and there isa services shows a surplus and there is a return on foreign investment in

the eu. in terms of quantifying it, these future talks on how they can rectify the imbalance will be really interesting. we will see how that translates. nothing has happened yet? no. what does this give us a hint about yet? no. what does this give us a hintabout in yet? no. what does this give us a hint about in terms of president trump's likely future trade approach? his supporters will say the only reason the eu has agreed to these things is because of his aggressive approach and the threats he put out to begin with? it —— he has his own approach to discussions and trade talks. he very businesslike. he sees it as a zero—sum game. he needs to show he has extracted something and he has won the argument. it will be a different approach. we can see now with almost a year and offers, how he leads. leaders around the world are adapting. i thinkjean—claude juncker, when he went into these talks, knew it was going to be very

businesslike and transactional. they put a deal on the table and the eu said, well actually, if we agree to this, we will have to see you revisit some of the tariffs you have imposed recently and also hold back on imposing other tariffs. we could talk about this all day. thank you. let's take a look at some of the other stories making the news. shares in the top us car makers have fallen, after their latest results revealed the impact of trade tensions on their businesses. ford and general motors lowered profit forecasts for 2018, citing higher steel and aluminium prices caused by new us tariffs. fiat chrysler also slashed its 2018 revenue outlook, after sales in china slumped as buyers postponed purchases us chipmaker oualcomm has abandoned a $41; billion bid for dutch rival nxp, after it was obstructed by chinese regulators. it would have been one of the sector's biggest ever mergers and some believe the chinese move was in retaliation for new us trade tariffs.

airbus has reported a big fall in profits, down 55% to $582 million. the plane maker has blamed a backlog in deliveries of its a320neo planes, because of a shortage of engines. australia's fairfax media — owner of the sydney morning herald — and tv broadcaster nine entertainment have announced plans to merge. it's the first deal under a controversial new media ownership law that removed a number of restrictions. simon atkinson is in sydney. just talk us through the significance of this as far as the australian media landscape is concerned? this brings together two of the biggest names in australian media, forming a joint company that would be worth about 4 billion

australian dollars, £2.5 billion. it is going to create a company which has big interests in, as well as the newspapers of fairfax media, various digital and screening services. it will also end the name fairfax media. the new company will be known as nine. this business, which has been around for 150 years, its identity is being stripped away. there is concern that the name will 90, there is concern that the name will go, but will some of the journalistic integrity associated with fairfax media and its newspapers, is that going to go with it? that is the real concern which is coming out macro so far. the deal still has to go through regulators. it is expected at the end of the year. then we will see what the fallout is. simon atkinson, thank you. you want to know what the markets are doing. the asian share markets are doing. the asian share markets closed lower on thursday.

investors don't seem to be too convinced by the warm words between the us and europe on trade. you have to remember the trade tensions persist between the us and china, which could be underscoring those persistent worries about the outlook for global growth. the picture across europe looks a bit like this. the continental markets taking a little bit apart from that joint press c0 nfe re nce little bit apart from that joint press conference betweenjean—claude juncker and president trump. trade fell sharply in the us. we will have to see what effect it has on the markets when wall street opens later. david lee has more on the disappointing facebook results. facebook is a company that exceeds the expectations of its investors. before these earnings were announced, the stock price was at an all—time high. then it became clear that for the first time since 2015, facebook was going to fall short on revenue growth and user growth compared to what analysts had expected. on a conference call with

investors, mark zuckerberg warned them to brace themselves. this could bea them to brace themselves. this could be a partner that lasts until at least the end of this year. mark zuckerberg blames data privacy concerns and also a movement from passive enjoyment of facebook to a more positive engagement on the platform that may make it harder to sell advertising. he also gave a figure for the first time for the total number of users across all of facebook‘s products. 2.5 billion. it seems people are not leaving the services in droves, as some had suggested. however, facebook may find it difficult to make quite as much money from them as it has until 110w. much money from them as it has until now. david lee, san francisco. joining us is richard dunbar, investment director at aberdeen asset management. this drop in user growth is a big problem, isn't it? it is almost halved in terms of projected growth?

still growing but not as quickly as investors had hoped, particularly in the us and europe. there is huge growth in the developing world. matching that would cost increases in terms of having to put better compliance in, better controls in, that makes roaring sales growth and subscriber growth. the wider ripple effect of this could potentially be worrying, because a lot of the rallies we have seen recently have in large part been driven by the likes of facebook? the us market has been driven by five or six stocks. if one of those stocks fall that is interesting. amazon and google are performing pretty well. expectations are very high for these technology stocks. if they disappoint, as facebook did last night, the market will punish them. expectations were

really high for netflix and that disappointed. are they browse putting these companies on a pedestal? they are driven by these five stocks. also, facebook said they were not affected by the cambridge analytica scandal. clearly, pregnancy —— pregnancy has affected them. they are seeing less visitors. it looks like facebook are running to try to catch up with the expectation of their customer base. and the expectations of regulators and governments in the world. they have performed fabulously in the last five to ten years. they have done very well. expectations from here are very high. the market has been pretty punishing. richard, you are staying with us. thank you. still to come, what working women want — a fashion brand that caters to modern office environments and offers a splash of inspiration to go with it.

we'll find out more in a few minutes. you're with business live from bbc news. a rise in new customers helped sky announce a 7% jump in annual pre—tax profits to £864 million. the broadcaster, which is currently at the centre of a bidding war between comcast and 21st century fox, added 270,000 new subsricbers in the uk and ireland over the past 12 months. joining us now is laith khalaf, who's the senior analyst at hargreaves la nsdown. positive results? very much. revenues up, costs down, profits up, subscriber numbers up. the only slight blip was a downturn in

profits in the austrian and german business. that's because of an increase in bundesliga rights. £153 million extra paid by sky. by the same token, earlier this year sky navigated the premier league writes pretty successfully, gaining those, cementing its status as the home of football at 16% less per game. all things looking pretty rosy at sky. highlighting why it is the subject ofa highlighting why it is the subject of a bidding war. has the bidding war helped momentum, raised awareness that sky is on the market? i think it probably has. they are —— there two big beasts in the room. fox and comcast. if you look at the sky share price at the moment, it is around 30p above the latest offer from comcast. that tells you the market expects there is a bit more action to be flushed out. we're

probably expecting that from fox and disney rather than any third parties. thank you forjoining us. plenty more stories whenever you want them on the business live page online. on there right now, super thursday results round—up. including sky, shell, anglo—american and diageo. some of the firms announcing their results. you can also read more about the press conference and the talks between president trump and european commission president jean—claude juncker. a bit european commission president jean—claudejuncker. a bit more detail on the sky results as well. you're watching business live. our top story — at a breakthrough meeting in washington, european commission president,

jean—claude juncker, and the us president donald trump have agreed a series of measures to try to avoid an all—out trade war. both men said they'd work towards zero tariffs on industrial goods. across the industrialised world more women are working than ever before. here in the uk, the female workforce is growing — women representjust under half of the total labour force. and men's dominance of company boards is on the wane. now there are only eight all—male boards in the ftse 250. from 2007 to 2017, women's board representation in ftse 100 companies increased from 11% to 28%. and while there's a ways to go, it's a good start. but while dressing for such posts can be easy for men, just a shirt and suit, for women it can be more complicated. which is where our next guest comes in. the fold is a contemporary label, fonded by polly mcmaster in 2012, that embraces fashion and aims to inspire the modern,

professional woman. polly joins us now. pollyjoins us now. your background was in financial consulting. you decided that few had to have a few outfits that looked the part and it inspired you to start this business? that's right. i was working in consulting and private equity, very male dominated. i found consulting and private equity, very male dominated. ifound i needed to be very competent at work and dress the part. when i went to my wardrobe in the morning ifound it not very inspiring. if you are trying to put your best self together in a really important presentation going for promotion or an interview, you need to feel that inner confidence. do you feel with women there is an androgynous look they need to go for, like a power dressing outfit would help them get on in terms of career ladders and prospects?

certainly not androgynous. i think a power look is about feeling empowered and confident. i think what's lovely is that over the past few years that has taken a far broader scope than it used to. the days of it being a traditional powers it has moved on. dresses are a terrific way to be feminine but smart. the universal theme that we have come cross with working women and being in touch with a lot of our customers is that there needs to feel very put together and very appropriate. if they get that right it could be really positive in terms of even impacting their career and how they are perceived at work. of even impacting their career and how they are perceived at workm terms of inflation, it is pretty high at the moment, just about outstripping income growth. are you finding that a struggle in terms of when you are selling online? had he seen an effect? what we are seeing is we are trying to encourage women to consider their work wardrobes as an investment. i think the women that we are addressing are, instead of buying a lot of product, which is then quite disposable, we are

encouraging them to say, this is quite an important part of how you should consider your work. therefore, they are prepared to invest in something better quality that will last them year—on—year. it isa that will last them year—on—year. it is a longer term decision and they can spend more. you have a flagship store in chelsea in central london. it's quite interesting. we talk often on the programme about the struggles that retail is facing. do you still see that actually for a brand like yours there is a value to be had in the high street store? absolutely. the really interesting pa rt absolutely. the really interesting part of retail survey is trying to get the online world and the off—line world working together. what we see is that our stories are wonderful experience for a customer and maybe wants to spend more time and maybe wants to spend more time and get more advice. it is about the experience. does she need it altered? does she needs some money to work with her on the needs of her wardrobe? we can see more community

coming together. online can be a bit more cold. off—line what we have is a group of businesswomen who often come in an network together. we host events. it is a wonderful way for them to meet and do business. how much creative input do you have? do you leave it to the designers to come up with the items? i'm very involved, actually. i don't come from a purely creative background. i've definitely got more of the business sense behind what we are trying to achieve. i am also the voice of the customer. i think something pertinent to our brand is i want to stay close to the needs of oui’ i want to stay close to the needs of our customers. so i can translate that for our designer. she will come up that for our designer. she will come up with a beautiful print. i will say, let's think about our business woman, where will see where will she wear this and how would he put that look together? how would she feel? is that kind of conversation. the

women watching this are thinking, i need to look powerful and strong today. what are the best things to wear if you want to get that interview or promotion? investing in what you are wearing and seeing it as an important part of your day is ready key. something that makes you feel confident. fantastic dress that you can put on. nothing to worry about. get it altered, get it to fit you properly. lasers are always good. particularly when you're dealing with hot cold inside. owning your luck when you go to work. thank you. we asked you for your thoughts on facebook, and whether you still like the platform. but first, let's remind you of this rare moment when mark zuckerberg apologised for facebook‘s errors, in front of a senate committee earlier this year. it's clear now that we didn't do enough to prevent these tools from being used for harm as well. that

goes for a fake news, foreign interference in elections and hate speech, as well as developers and data privacy. we didn't take a broadening of view of our responsibility and that was a big mistake. and it was my mistake and i am sorry. i started facebook. mistake. and it was my mistake and i am sorry. istarted facebook. i've run itand am sorry. istarted facebook. i've run it and i'm responsible for what happens here. let's look at the tweets you have sent. neil says, i let's look at the tweets you have sent. neilsays, ithink let's look at the tweets you have sent. neil says, i think i spent as much time looking at twitter and instagram as facebook. facebook owns instagram, so they want be too upset to hear that! jonathan is gladly sold his facebook shares. danny uses it for a business but no longer reads anything personal. luke says he deleted his account in march when the data scandal broke. it made him wa nt to the data scandal broke. it made him want to get rid of his account for good. thank you for your tweets. richard

is back to look through the papers. a story about domestic violence in new zealand, which apparently has some of the highest records of domestic violence in the world. they passed a law to allow employees in the workplace to have time off if they are a victim of domestic violence, to find a place to live, leave their partner and go through everything that might be involved?” didn't realise there was that problem of domestic violence in new zealand. the legislature are saying they have a duty of care to those victims and that duty of care extends to employers as well. i think that broadening duty of care will chime with many elsewhere in the world. we are seeing it is very popular legislation in new zealand. more about the duty of care and the onus on the employer to take notice and take heed of what their staff

may be going through at home? and we are seeing that across the uk. employers are embracing that. it benefits employers as well. in the new zealand example, if employers can get victims of domestic violence through that period, out of harm's way, those people stay in the workforce and stay part of the sector, which is good for all. also, kyliejenner... are you on instagram? i'm not. you could be missing out on a fortune. they have published the rich list. kyliejenner and they have published the rich list. kylie jenner and david they have published the rich list. kyliejenner and david beckham topped the list. david is the top brit. before instagram he was pretty rich anyway. it highlights the changing ways in which people can make these vast sums of money embracing the opportunities that social media brings and harnessing them? kylie jenner $1 million per

post, that would have been $1 million that would have been in the traditional advertising and media world five years ago. it is not there any more. it highlights the difference between editorial and advertising? the advertising standards in the uk are interested in whether these posts are advertising or opinion. that will go further. the whole split of work media advertising go is a real threat to the traditional media. shaking things up. richard, thank you very much. good to see you. that's it from business live today. 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. have a good day. hello there. today looks set to be

the warmest day of the year so far, with temperatures expected to reach 35 celsius in the south—east. 33.3 degrees is the number to beat. we have got areas of low pressure are swirling out in the west. they will bring about some change as we move into the weekend. something cooler, breezier and with showery outbreaks of rain. the first weather front is pushing into parts of northern ireland and the western isles. it is bringing with it more cloud and showery outbreaks of rain in the afternoon. elsewhere, a good deal of dry weather, sunny spells. more in the way of patchy cloud in the afternoon. the risk of a heavy isolated shower in parts of north—east england into the midlands. temperatures in the mid to upper 20s. 35 in the south—east. this evening and overnight the

showers pushed further north. more showers pushed further north. more showers putting in from the south to the west of london and the midlands. there could be frequent lightning and heavy rain. the weather front working its way east through the night. temperatures in the south staying hot and humid. not much below 22 celsius. the weather front continues to work its way east tomorrow. showers from the word go. the initial showers dying out. there is the chance of seeing heavy, possibly thundery and torrential downpours in the east of thing than and scotland as we move into the late afternoon and evening. east anglia and the south—east largely escaping those showers. that takes us escaping those showers. that takes us into the weekend. more rain lingering for parts of northern scotland. another weather front working its way north—east from the south west as we move through the morning. driver in the south with sunshine. showers in the north. some places five to 10 degrees cooler

than on friday. temperatures having dropped down. on sunday the next weather front works its way into the south—west, bringing showery outbreaks of rain. drier in the east with sunny spells developing. another breezy day to come on sunday. temperatures cooler than we will see in the next couple of days, in the low to mid 20s. hello. it's thursday. it's nine o'clock. i'm chloe tilley. welcome to the programme. today could be the hottest day ever on record in the uk. with temperatures set to rise to 37 degrees, is this the new normal? today mps are warning that thousands more people will die due to higher temperatures, unless the government acts. the whole of the first hour of our programme today is devoted to the heat. we'll be talking both about the immediate impact of the heatwave on all of us, on our health, and our safety. it is 56 days since we had a spot of

rain and we are getting very parched. it is remarkable weather. i have never known anything like it as a farmer. and we'll talk about the future. we've brought together a group of experts to talk about what needs to change if higher temperatures become the norm.