this is the business briefing. i'm david eades. stepping up the pressure. the us is rolling out those sanctions on iran. but how vulnerable is it's economy and how much will it hurt ordinary iranians? and some entrepreneurs are giving the cosmetic industry a make—over by selling their brands on instagram. and on the markets: the same and the nikkei are up. —— so the same and the nikkei are up. —— so those issues around at whether it is china, the us or iran and the us, they are factored in. the hang seng and the nikkei are up. just half an hour ago us sanctions on iran have come back into force. they were reimposed when president trump pulled out of an international deal

designed to stop iran developing nuclear weapons. for many western companies, president trump's decision means they have to choose whether they would rather trade with iran or the united states, which is the world's biggest economy. us companies have far less to loose than their european rivals. us trade with iran was just under $200 million last year but for the eu it was more than $24 billion as it continued to grow after the 2015 nuclear deal. today marks the first of two phases of the sanctions coming back into effect. and they will impact the car industry as well as trade in gold and other precious metals. there will be significant restrictions on exchanges of the us dollar and the iranian rial. as you can see, to buy a dollar is almost 150% more expensive now

than it was a year ago, as investors seek avoid the risks of iran. some of the big european companies reassessing ties to iran include french oil giant total, carmaker renault, planemaker airbus and german engineering firm siemens. the eu put in place a blocking statute to try and protect them but it's unclear how effective it will be. christopher granville, managing director of global political research at ts lombard joins me now. we have given a picture as to what is coming in at this stage and that is coming in at this stage and that is the reality for some of these huge companies who thought now is the time, we can get acting to —— back into iran. they cannot afford it. in 2015, the so-called nuclear deal and joint plan of action gave the green light to reopen investment and trade in iran for all companies

around the world, especially europe, which has historically close trade investment lyrics with iran. so in a went. —— they went. before the previous sanctions period, you mentioned some of the companies, it is mainly europe, there are some japanese and other asian oil trading interests in iran and they will be vulnerable in november. at the moment, it is europe, hence the interest in this so—called eu blocking statute, which was dusted off yesterday by the eu and the three major member states of the eu that negotiated and signed the jcpoa, that is the uk not following the us line for a change, germany and france. that statute basically

says you cannot impose sanctions on us, is that the gist of what they are trying to say? it goes even further. it was introduced in 1996 in similar circumstances in retaliation to us sanctions on sudan and cuba and says it is actually illegal for european companies to comply with these sanctions, then it says that they cannot be enforced in any court in europe and finally it says that the eu will facilitate legal action by any company to recover assets from the sanctioning entity, rather than mutually stated, no less, the us government, to compensate itself any losses it has occurred. tough language, see how that pans out. for iranians, it is certainly not symbolic. already, ever since donald trump said we are

going to do this, they have had to feel the pinch. as you going to do this, they have had to feelthe pinch. as you have going to do this, they have had to feel the pinch. as you have said, going to do this, they have had to feelthe pinch. as you have said, it has come through the devaluation of their currency, with the outlook of their currency, with the outlook of their financial system being cut their currency, with the outlook of theirfinancial system being cut off again from the international dollar system. incidentally, us banks have never been able to go back into iran, even underobama never been able to go back into iran, even under obama it wasn't possible because of us domestic law, which obama had no control over, wasn't able to change. he simply facilitated and encouraged other financial institutions to get involved with iran, to help and give positive incentives for the government to comply with the nuclear deal. their valuation is 50— 60%, that is a big hit to living standards because imports go up, inflation goes up and interestingly, the government there is announced

yesterday that there would be freely available foreign exchange amongst small businesses at market rate. so you could see that paradoxically, sanctions often have unintended consequences, you could see some liberalisation inside iran. a little shade of white coming out of darkness. —— white. -- light. japan's softbank group has reported a whopping 49% jump in its quarterly profits. that's driven by the sale of its stake in indian e—commerce giant flipkart in the first public divestment by the conglomerate's massive vision fund. let's go to our asia business hub where sharanjit leyl is following the story. 49%, you would take that each quarter. absolutely. softbank certainly took this. they sold the

online retailer flipkart following a 2.5 billion dollar investment last year. profits helped by the sale of the chinese business run by arm, which is run by softbank and that was thought to a consortium over local finance investors as well as partners. the sales are the first signs of softbank making money off it investment after pumping billions of dollars into these technology copies around the world. its investments are now worth about $32.5 billion. softbank group shares are surging as much as 7% in tokyo. investors giving something of a thumbs up to the investment prowess. to such an extent that one of the big challenges for the firm going forward is who shall replace their

current head. he has assured investors that he will set up a clear succession plan over the next gate. —— decade. all this week, we're looking at the entrepreneurs and businesses that have been transformed by instagram. today, we'll look at the way the social media app has transformed the billion—dollar global beauty industry, which is expected to grow from $433 billion today to $750 billion by 202a. but increasingly it's not traditional department store brands like estee lauder and lancome that are capitalizing on this growing market, but disruptors who have launched on social media, like rihanna's fenty beauty, kylie jenner‘s lip kits, and the new york start up glossier, as the bbc‘s kim gittleson reports from new york. so i'm just going to spritz my face. for 17—year—old lila childs, her obsession with make—up started young after she saw the hunger games movie atjust11. one thing i really remember was the make—up and how it wasn't really about vanity, the way the make—up transformed her into who they sort of wanted her to be so i went home

and i stole my mum's make—up and whatever i had and i tried to do it on myself. lila says it was the power to transform that made her want to become a full—time make—up artist. so to get started, she did what every teenager does these days — she opened an instagram account, makeup by lila, to show off her looks and get advice from brands like this one, glossier. in today's world, women are really making their beauty decisions based on other women, not based on sales associates or advertising. emily weiss is the founder of what she calls the first co—created beauty company. social media is how we launched. so we created an account at glossier that now has over a million followers from all around the world and social media is so ingrained in what we do. 0ur engagement rate is actually three times higher on instagram than other beauty companies. in less than four years, glossier has grown to be valued at nearly $400 million by investors,

partially as a result of engagement statistics like this one. the company gets an instagram direct message from fans every 10 seconds. and that digital savvy is increasingly extending beyond the world of social media to physical retail stores like one, which generates more sales per square foot, reportedly, than your average apple store. all this has left traditional beauty brands playing catch—up to appeal to a generation whose life is increasingly lived online. kim gittleson, bbc news, new york. that is the business briefing. with temperatures hitting over 30

degrees in the uk people have been flocking to parks and public spaces to enjoy the sunshine. but after the sun sets what can be left behind for councils to clear up is mounds of rubbish. graham satchell reports. 630 in the morning, hackney in east london. the park thing is out early, cleaning up. —— 6:30 a.m.. london. the park thing is out early, cleaning up. -- 6:30 a.m.. it is ha rd to cleaning up. -- 6:30 a.m.. it is hard to speculate on why people think it is acceptable to leave their rubbish where they are, but they have to play a role as well and people to understand that it is an additional cost, we can elect up to two tons of rubbish. local authorities to have the power to issue on the spot fines to people who litter. but hearing hackney they say what is really needed is more education to show people it is socially and environmentally unacceptable. we carried out a

recent survey unacceptable. we carried out a recent survey on unacceptable. we carried out a recent survey on careful littering. lizzie is from keep britain tidy, she says most people know that throwing rubbish on the round is unacceptable but they haven't identified something more subtle, more than a quarter people admit to leaving rubbish carefully on a ledge next to a bench. what we think might be going on is people are sort of going to do the right thing, so they are not throwing the letter down, they are placing it somewhere where it might be collected and when speaking to people about that we found that people don't necessarily perceive that as littering. people haven't thought of themselves as a glitter. in manchester, have started a campaign to clamp down on so—called careful littering, nudging people to take their litter home. so far it has rich used the problem by 20%. but is nudging people enough when so many parks and beaches have been left in states like this?

this is the briefing from bbc news. the latest headlines: donald trump has reimposed sanctions against iran, following up his decision to withdraw the united states from the international deal that limited iran's nuclear ambitions. the president has said iran could avert sanctions by agreeing to abandon its nuclear programmes. iran's president has accused him of psychological warfare. nearly 100 people are now confirmed dead after sunday's powerful earthquake on lombok island in indonesia. at least 20,000 people are stranded or have lost their homes. aid agencies say the priority now is medical assistance, and to provide as much shelter as possible. saudi arabia's national airline is suspendinbg flights to and from canada's biggest city. it is the latest move in a growing diplomatic row between the two countries. 0ttawa intervened on behalf of detained saudi women's rights activists, but riyadh says it won't tolerate interference. now it is time to look

at the stories making the headlines in the media across the world. we start with the guardian's report claiming the british government is poised to submit an extradition order for two russians suspected of carrying out the salisbury nerve agent attacks. pictured is dawn sturgess, who died, three others were injured. the financial times looks at the return of iran sanctions today. they prohibit iran from using us currency, as well as trading in cars, metals and minerals. 0nline on business insider, the escalation of a human rights dispute has led to saudi arabia expelling ca nada's ambassador and freezing trade and investment. the state airline has also suspended flights in and out of toronto. indian english newspaper business standard looks at the resignation of indian—born pepsi ceo indra nooyi. her departure thins the ranks

of female ceos running fortune 500 companies. as reported online at market watch, there has also been a spate of resignations of female ceos over the last year. and finally, in the telegraph, most people enjoy a lie—in when you can get it, but a new study is suggesting oversleeping can be as bad for your health as lack of sleep. so let's begin. with me is jane foley, a senior fx strategist at rabobank.