this is business live from bbc news with susannah streeter and sally bundock. facebook watch goes global. but can it take on netflix, youtube and amazon in the booming business of video streaming? live from london, that's our top story on thursday, the 30th of august. the world's biggest social media site tries to break into the lucrative video streaming market — but will worries over fake news make it an uphill battle for facebook? also in the programme... default fears return as argentina tells the imf to speed up payment of a $50bn loan — sending the peso to a new record low. we will get the latest from the markets, this is the picture as they

openin markets, this is the picture as they open in europe. and hitching a ride — we'll be finding out about an app that's been described as the air b&b of the skies — which is taking off across europe. as the accountancy giant pwc says it's ditching fixed working hours for new staff. today we want to know if you could work when you want would you get more done? let us know — just use the #bbcbizlive. hello and welcome to business live. we start with facebook — it's already far and away the world's top social network, with two billion users. but can it take on youtube, netflix and amazon in the booming business of video streaming? today it rolls out its own streaming service — facebook watch — around the world. it's already been up and running in the us for the past year — but it's had something of a slow start. only around 14% of americans are using it at least once a week. it has funded a few original shows

but most content providers aren't being paid upfront. instead they get a 55% share of the advertising revenue. the stakes are high — the global video streaming market is growing at 10% a year and pricewaterhousecoopers estimates it will be worth more than $58 billion in the next four years. but facebook‘s reputation as a trustworthy source of information has of course taken a pounding in recent months. chief executive mark zuckerberg was forced to apologise before the us senate earlier this year. yes, he was. some would describe it as an embarrassing moment for mark zuckerberg. jim edwards, founding editor of business insider uk, is with me now. what do you make of the launch of facebook watch? to saint benet have

to do, facebook probably feel that doesn't have much of a choice other than be in video. video was a huge business online, they look at youtube and netflix and they have seen those competing companies, which compete with facebook for time and attention, they have seen them gather hundreds of millions of users, taking up a lot of internet time. there is billions of revenue there on facebook wants a piece of that. they have struggled to take off in the united states. we have seen the roll—out in europe and elsewhere. it is a very difficult market to compete in. netflix, amazon and others are so darn popular and they have fantastic original content that we want to watch? yeah, facebook's problem is that it once you to do almost everything on facebook, messaging, posting media, photos, and on and on, and now video. it is like a kitchen sink app where you can do anything. the history of digital products tends to be that what users really wa nt products tends to be that what users really want is one special product to do one thing, and so netflix is a

good example of that. netflix, you arejust good example of that. netflix, you are just watching good example of that. netflix, you arejust watching video. good example of that. netflix, you are just watching video. there is nothing else to do. netflix is very good at that. the question for facebook is if they can be as good as that. facebook says it is not a media company, but by creating this content it is going to be very hard to keep arguing that? it is looking more and more likely publish every day. the contact deliver the content they are going to have on facebook watch is from publishing companies we recognise like business insider, vice, fox, cosmopolitan. it is looking more likely publish every day. facebook will argue it isjust a platform, neutral, run by algorithms, but it doesn't help them algorithms, but it doesn't help them a great deal with that argument. we have to leave it there. thank you. the launch of facebook watch... let me get this right, we will keep an eye on that. let's take a look at some of the other stories making the news.

argentina's currency the peso has plunged to a new record low against the dollar on fears the country may default on its debts again. argentina's president macri has asked the international monetary fund to speed up the payment of a $50 billion bailout loan. we'll have more on this later in the programme. the japanese electronics firm panasonic plans to move its european headquarters from the uk to the netherlands by october. in an interview with japan's nikkei newspaper, panasonic's european boss said one of the reasons were barriers the company might face in a post brexit uk. canadian and us negotiators have been working through the night in washington as they try to renegotiate the north america free trade deal. president trump has set a deadline of friday to reach a new agreement. canada rejoined the talks after mexico and the us announced a bilateral deal on monday. air canada's mobile app has suffered a data breach resulting in the suspected loss of thousands of its customers' personal details. the airline has warned that users who had entered their passport

details may have had them stolen. experts warn that the theft of such information would pose a serious id fraud risk. next, news of a major deal in australia's telecoms industry. vodafone's australian business has agreed a merger with rival tpg telecom to create an $11 billion operation. vodafone australia, which is owned by the hong kong—based ck hutchison and vodafone group, will have a majority 50.i% stake. first karishma vaswani is in singapore. this is a massive new telecoms giant thatis this is a massive new telecoms giant that is effectively being created, all born in australia, as you were saying. vodafone's australian operations and tpg telecom will create a brand—new mobile, fixed line and broadband provider. $11

billion, the merger is worth that much. effectively it will be big enough, according to analysts, to match the scale of the rivals in the country, telstra and optus. the new entity, which is called tpg, has already been given a thumbs up, as shares soar across australia. analysts say that it should result in better service and lower prices. it is one of the biggest complaints over there, broadband, many it is one of the biggest complaints overthere, broadband, many say it is one of the biggest complaints over there, broadband, many say it is too slow and equality is not good enough. the move comes as australia's telco sector faces uncertainty because of a from the government of a government owned broadband wholesaler which has impacted internet profitable as you. thank you very much for that update. now it is time to check the global financial markets. a mixed picture in asia, despite the nikkei surging again. the tech heavy nasdaq

extended gains, closing at a record for a fourth session. the dowjones was also up. let's look at the situation in europe. as you can see, they have opened lower, the major industries. there is still concern about the growing trade talks about the us and canada, investors will be looking closely at that. let's have more on argentina. its currency the peso has plunged to a new record low against the dollar on fears the country may be about to default on its debts again. for decades argentina has been trapped in a cycle of financial crises and debt defaults. but confidence in economic reform is has been evaporating — as our south america business correspondent daniel gallas explains. argentina has the world's highest interest rates. it has a government that is committed to market reforms, and it has a billion—dollar deal with the imf. so why are investors taking their money out of the country? for one thing, they believe that argentina is issuing too much debt, issuing too many bonds,

and that could trigger a debt default in the future. the government has promised to tackle the problem through spending cuts, but congress and workers are resisting changes as they say that society is already overstretched with the cuts. on wednesday, there was a clear sign of how markets distrust mr mauricio macri's ability to handle the crisis. just as he was on television asking for an early release of imf funds the argentinian peso had its worst day of the year. the imf director general issued a statement saying that she still believes in the government's ability to handle the problem, but right now not many people are convinced. daniel, in south america. joining us us ben kumarfrom 7 investment management. it has been a big story, the peso

tenting, and saying to the ims that they need the money now. argentina issued a 100 year bond, it was heralded as the return to the market, they were a stable economy and everything was good. issuing a bond for 100 years, promising to pay it back in 100 years, you have to be a decent economy to do that. that has been the story for decades, boom and bust, extremes? yes, and it happened so quickly, the cycle comes one after another. argentina has a lot of short dated debt, debt that comes in the next 30 or 60 days. that is why it has said to the imf that we need money now. i know we agree to have it over 12 months, but we need it up front. that prompted another fall, it backfired? a vicious circle. if you reach out for help because your currency is in pain, help because your currency is in pa i n, investors help because your currency is in pain, investors say there is probably more pain coming down the track. it is tough to get out of. talking of pain, the wall street bull run for the s&p 500, have we

got pain coming? there is a mixture of use, some see an all—time high and think it must be the end, some people must think it means things are people must think it means things a re pretty people must think it means things are pretty good. the next all—time high could be the end or the start of another long ball run. looking at the rest of the world, the bull markets have not been going quite so long. people might move out of the us and into places like europe, japan or emerging markets, but not argentina, i suspect. or recep tayyip erdogan. shrugging off the fears, the us market? the trade disputes are resolved, you will see a change around the world. we will talk about some other business stories today. we're talking about flexible working, a big accountancy giant saying you can work when you want. still to come... hitching a ride — we'll be finding out about an app that's been described as the air b&b of the skies — which is

taking off across europe. you're with business live from bbc news. theresa may in coming to the end of her tour in africa, finishing her trip in kenya. she's visited nigeria and south africa so far, as part of a bid to boost britain's investment in africa after brexit. our africa business correspondent larry madowo is in nairobi now. on her agenda, she will be looking to convince her hosts that a truly global britain after brexit is still a solid business partnerfor global britain after brexit is still a solid business partner for kenya, and kenya will be looking to make sure that horticultural products currently on sale in the uk, a lot of the agricultural produce, can continue to access the uk market. if kenya can increase the amount of

exports to the uk beyond £1 billion, which isjust exports to the uk beyond £1 billion, which is just underwear it is right now, they will be looking to talk about how the two can partner. she will be telling the president about the innovation partnership that she announced, including a £2 million accelerator fund, targeting the technology infrastructure in kenya, south africa and nigeria. do you think that will be it, as regards the slice of the $5 billion that are promised for african countries can do you think that kenya is hoping for more? kenya will be hoping to get as much of that is possible. what she said in cape town, the $5.1 billion investment in african economies will lock another $5 billion from the private sector. that is what she is building on, one of the announcements in nigeria was about how african companies can raise financing from the city of london, about 111 companies listed on the london stock exchange. she hoping what companies can access

that pot of cash in the uk to build morejobs in africa. that pot of cash in the uk to build more jobs in africa. thank you very much for that update on theresa may's trip to africa. i know there is going to be a lot of companies hoping to get a slice of the pie. let's look at some of the stories on the business live page, wh smith says that they are doing very well in airports and train stations. they are talking about how they have opened eight stores in madrid, terminal 4, and they are doing well, especially the ones in rio de janeiro. seeing its travel business go from strength to strength. your're watching business live. facebook — the world's biggest social media network — is rolling out it own streaming service in an effort to compete with youtube,

amazon and netflix. the video streaming market is growing at 10% a year and is expected to be worth more than $58 billion injust the next four years. you can understand why facebook is getting stuck in. flight delays, long queues at airport security checkpoints, stingey baggage allowances. modern air travel can sometimes seem to lack a certain romance. so how would you fancy sharing a ride on a privatejet? our next guest helps run a company that has taken the so—called sharing economy to new heights. here's how it works. hobbyist pilots list their flights and passengers hop on board to fill any spare seats. the company is called wingly and it first launched in france in 2015. but has now expanded to become a pan—european flight—sharing platform. the company has 180,000 registered users so far and says it has conducted 10,000 flights since it was established. ahaad adiji,?uk country manager for wingly, joins us now. hello. thank you very much for

coming in. you flew in, didn't you? not today. but wingly is a great way of experiencing flying. in europe, there is 300,000 private pilots who are licensed to fly and they have to fly a certain number of hours every year to keep the licence. flying is also very expensive. the vast majority of these pilots are often flying alone. so, wingly is a great way of connecting private pilots with passengers that want to share flights with them. you don't really know who you are flying with, at least when you get on a commercial flight least when you get on a commercial flight you know that they have done all of the right checks, these are lone pilots with licenses. how can you be sure that they are registered to fly, they have the right experience, the right number of flying hours? at a bit different to commercialjets. wingly flying hours? at a bit different to commercial jets. wingly is flying hours? at a bit different to commercialjets. wingly is more small planes, single propellers, two to six seats. this being said, the

pilots verify themselves. they post their licences, medicals, and we check them manually per pilot who signs up. also, it is very transparent. our goal with wingly is to create a platform which has more trust and transparency, so the pilots upload all of their experiences, all of the flights they have done. so we know exactly what they are doing. it is very transparent and passengers know who they are flying with. i had a look at your website and checked out what is available today. there are all sorts of flights across the country. it is all experiences. it's fun, it's like a day away, it is not getting me from london to manchester ina hurry, getting me from london to manchester in a hurry, is it? that is very correct. comedy is built for leisure, not transport. the goal is that we bring passengers together and it is a big leisure experience, to share the costs and experience of flying in a small plane. how do you make money? the way we make money is

to share the cost of flying. we charge a commission of 15%. this is a nominal fee that is directly shown on the platform and it is very transparent. hadleigh farm people have become friends through this and they take regular flights with the same pilots? of course, a lot of passengers become really good friends. they start with a shorter trip and then they have done quite a few longer trips as well. they continue to use wingly because they liked using the platform and they get more reviews. the pilots are not make any money, are they? that is why you say you are not uber, many people compare you to uber, but you are not at all? we are not uber, pilots are not doing this to make money, they are not really taxi drivers. they are sharing their passion for flying with others. they only get to share the costs. in this sense, they get to fly a lot more, compared to their previous budget. they also meet new people and share

their hobby. how much does it cost, ifi their hobby. how much does it cost, if i wanted to go on a day trip to edinburgh, for example, what could it cost me? depending on how long the flight is, the type of plane, it could cost £100 each way, per passenger, in a small plane. ok. i them today, you could go all over for about 60 quid. what about sharing the champagne on board? is not a prerequisite? not always, that is not the idea. one of the things is not the idea. one of the things is that it is not really the jetsetters that are using this platform, it is more democratising private flying for the masses. you can go private flying for the masses. you can go on a private flying for the masses. you can go on a flight for about £50 per person, per hour, so it reduces the cost. you are the uk country manager, you are operating in france and germany, are you focusing on europe only, as a company, as wingly asa europe only, as a company, as wingly as a whole, what is the plan? our

main focus is to consolidate the european market, especially with these countries that have the largest aerodrome densities in the world. approximately every 15 miles there is one airfield. it is very accessible. our goal is to grow this market, get all pilots to fly, get more passengers flying. eventually, it will boost the private aviation economy. but you are not a pilot yourself, although you want to be? economy. but you are not a pilot yourself, although you want to be ?|j am slightly learning. i do love flying. with wingly has been a great experience, i get to meet you pilots andl experience, i get to meet you pilots and i get to fly. it is for people that have always been interested in flying to try it out, this incredible way of seeing britain from above. once you have your license, we might come on a flight with you. thank you for being on the programme, very interesting. here is a quick reminder of how to get in touch.

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 of the business news as it happens on the bbc‘s business live page. there's insight and analysis from our team of editors, right around the globe. and we want to hear from you, too. get involved on the bbc‘s business live web page at bbc.com/business, on twitter, we're @bbcbusiness, and you can find us on facebook, at bbc money. business live, on tv and online. what you need to know, when you need to know it. we will be discussing some of the stories in the papers, but first a bit of breaking news in the uk. the payday lender wonga is saying it is no longer taking new loan applications. the troubled lender says it is still considering all options after reports suggested it was on the brink of collapse. it follows a surge in compensation claims against the company amid a government clamp—down in the uk on payday lenders. britain's biggest

payday lenders. britain's biggest payday lenders. britain's biggest payday lender faced criticism for its high cost short—term loans, which some said targeted the very vulnerable. just to say there is more detail on that story on the business live page, so you can catch that there. let's reintroduce ben. he is back as promised and we will talk about various stories. let's start with the one we are asking viewers about, the new normal at pricewaterhousecoopers, or pwc, as it likes to be known. launching a flaxseed scheme that allows new joiners to work when they want. —— a flexible scheme. it is the way that the world is going, people don't wa nt to the world is going, people don't want to do five days a week behind the desk, 95. even some of the biggest companies recognise that. most of the big tech companies, you can work from home, you can work from where you want, maybe they have an office around the world. pwc, accountancy and consulting, it seems

boring and stuck in the mud, but a lot of those consultants advise businesses on how to work. the thing is, you could end up in a situation where you're working more, you are allowed to work when you want, but it might infiltrate more. already people have problems with too many e—mails in the evening and weekends? so many people who work from home say they have working harder and longer, they get up early and work later, to give the impression they are actually doing some work. i know that we certainly have people that when they go on holiday make an effort not to look at e—mails, but we know how hard it is. you want to keep track of things so you are not com pletely keep track of things so you are not completely unprepared. what are your hours? about 7am until about ex-pm. a long day. five days a week?|j hours? about 7am until about ex-pm. a long day. five days a week? i do some media stuff that gets me out of the office. —— 7am until 6pm. some media stuff that gets me out of the office. -- 7am until 6pm. we have had some tweets, mark says i

tend to find my mind straying off back to work when i take a relaxed attitude to my work hours. about us my own slack attitude. mark says tried doing this in the manufacturing sector, i don't think this will work. it is easy for pen pushers. we have steve, saying if i employed somebody it would be to work when i want them to, not when they felt like it. i think there are some industries where it is not going to be as easy. i don't think you guys could work from home. manufacturing, great example. if you are literally in the business of making things, you need people there to do it. there are some industries, lots of journalists work to do it. there are some industries, lots ofjournalists work from home or work from coffee shops. in some places, some areas, think it makes sense. in others, it doesn't. it would not make sense at dyson, because it is expanding the wiltshire facility to test electric ca rs. wiltshire facility to test electric cars. certainly, you're going to need to be on that track, doing so. it really wants to rival the other

big players in the market, uber in uber, anything that is developing electric cars. james dyson, it might seem like a electric cars. james dyson, it might seem likeajump electric cars. james dyson, it might seem like a jump to go from hoovers, but he is an inventor, looking at the most exciting technology around. i would not put it past him to revitalise the british car manufacturing industry by going electric. that is of course james dyson, expanding in wiltshire. thank you very much. it is interesting about dyson. people say he might be ablejohnny about dyson. people say he might be able johnny come lately about dyson. people say he might be ablejohnny come lately to the electric car market, but he did test 3000 product types of the vacuum cleaner before he got to do what he wanted. it is like the invention of the light bulb. thanks for watching, see you soon. goodbye. hello. it was a rather chilly start

this morning, but we had lots of sunshine. as we go through today, the cloud will slightly build up. it is just that fair weather, some cloud that we will see in the sky. some lengthy sunny spells, and for many of us it will stay dry. from this morning, the bright lights of the cities, the clear skies. this mass of cloud of the south west, thatis mass of cloud of the south west, that is the weather coming in for friday and into the weekend. before that arrives, we can see there is not much going on, really, fair weather cloud developing as i mentioned. the chants of a0 showers across western part of england and wales, the north and west of scotland. with light wind and those sunny spells, it is going to feel quite pleasant during the afternoon. temperatures typically about 16 or 18 degrees in northern areas, getting into the 20s the south—east. from this evening, a fine end to the day. that cloud that you have got will tend to disappear. with clear

skies again, temperatures are going to fall away quite swiftly. if we look at the temperature map, we have some greens, some blue returning. in sheltered areas of scotland, temperatures as low as two three celsius again. in towns and cities, temperatures more like 713 degrees. friday morning starts off on a chilly note. again, plenty of blue skies and sunshine. for many, it will be a repeat of today. some cloud developing. thicker cloud moving into northern ireland and through the south west of england. maybe a few spots of rain by the end of the day as well. temperatures very similar to today, about 17 or 22 degrees. we have high pressure dominating, but quite a week fair. it does allow the influence of some weather systems coming from the west. —— a weak affair. even if you get rain in the northern and western areas to saturday morning, it will tend to disappear by the afternoon. the best of the dry and bright

weather will get towards eastern and south—eastern areas. 23 or 2a celsius in the south—east. sunday, a similar picture. northern and western areas having a bit more cloud, the further east you go, temperatures getting up to 2425 celsius. goodbye. hello. it's thursday, it's nine o'clock. i'm victoria derbyshire. welcome to the programme a leading surgeon has exclusively told this programme that since the government ban on vaginal mesh, which was implanted in thousands of women to treat incontinence or prola pses, there's been a 30% increase in women coming to her to have it removed. we've had exclusive access to film one of those operations. so it is quite deeply buried, so we are going to have to sort of cut really close to the urethra to try and track it and get it out. and already we can see some parts of the mesh fragments peeling

off the main mesh body. that film coming up at 9.15 this morning. also: should energy drinks for children and teenagers be banned? the government's consisdering that because of worries about kids' health and concentration at school.