this is business live from bbc news with victoria fritz and sally bundock. all smiles in salzburg at a meeting of european leaders but with no brexit compromise in sight, companies and workers remain in limbo. live from london, that's our top story on thursday 20th september. british prime minister theresa may pitched her brexit plan to european leaders at the dinner in salzburg but according to the commission president, a deal remains far off the menu. we will talk you through the indigestion. also in the programme, china's jack ma withdraws his promise to create a million jobs in the us, as he warns of twenty years of trade friction with america. he was speaking at the world economic forum in tianjin

where our correspondent was listening to his speech. and european markets open higher today with investors watching events in salzburg with another meeting of eu leaders about to start. it's a continent of 1.2 billion people, with growth expected to average over 3% next year. we'll get the inside track on africa's opportunities and challenges, as we speak live to the chairman and founder of one of the continent's biggest banks — nigeria's zenith. cathay pacific has managed to spell its own name wrongly on a new plane. today, we want you to share with us your big blunders at work. get in touch with us on today's show using the hashtag bbcbizlive. hello and welcome to business live. and feel free to and share your work

embarrassing moments and blunders. we have a lot of them in already. we start with brexit. as you've been hearing, uk prime minister theresa may is at a summit in salzburg, austria, trying to sell her plan for britain's future relationship with the eu when it leaves in six months time. many employers are becoming increasingly worried about their ability to recruit the right staff, once britain is no longer part of the eu's freedom of movement rules. 139,000 eu citizens left the uk last year in the wake of the brexit vote — the highest number in a decade. that has left employers in some sectors — especially hospitality, health and agriculture — struggling to recruit staff. at the lower skilled end of the market, the number of people applying for each vacancy has fallen from 2a to 20 over the past year, according to a recent survey. companies are having to raise wages to attract workers.

the uk government's migration advisory committee is recommending a more global approach to migration after brexit. it would favour higher skilled, higher earning migrants from around the world. that could cause a major problem for some industries like agriculture, where 99% of seasonal workers come from eu countries. it could also mean lifting the limit on so—called tier 2 visas for highly skilled workers from outside the eu. currently just over 20,000 a year are granted on a system of points based on things like education. joining me now is tom kibasi, who's a director at the institute for public policy research. welcome. what's your view on this workers‘ conundrum welcome. what‘s your view on this workers‘ conundrum as outlined by sally? what the migration advisory

committee is saying is it would have a threshold of around £30,000. if you apply that to current eu migrants, it would mean 75% couldn‘t come in so it will create a major problem for employers who already say they are worried about the consequence of brexit. we heard overnight that british prime minister theresa may has rejected the eu plan, particularly on northern ireland, is not credible. 0ne northern ireland, is not credible. one wonders whether she has much of a choice. there seems to be fair in balance in power between leaders. she has rejected it is not being credible, but she probably shouldn‘t have signed up to last december in the negotiations around the withdrawal agreement. you are right there is an imbalance in power, around half of the international trade with the uk goes to the european single market, and for no major european economy is it no more than 8%. for smaller countries like ireland it‘s quite large, but even then it‘s not anything like the size of the uk‘s trade with the rest. it

is an imbalance of power. the eu leaders have been fairly generous, shall we say, with theresa may‘s visit to salzburg. she has not been embarrassed or called out or anything as nasty as that. however, there are some people who would say that perhaps european leaders are running the clock down on theresa may. and with every day encroaching upon that march deadline, their position gets stronger and theresa may‘s gets weaker. position gets stronger and theresa may's gets weaker. i think that is partially true. i think they threw her a bit of a political lifeline by saying warm words last night, the five or ten minutes at the end of dinner that she got to speak at, say nice things to the cameras, but in substance their position hasn‘t changed, consistently sticking to the message that the european economic message is an integrated whole and you can‘t pick the bits you like, like the chequers proposal does. as the clock runs down, their position strengthens, but i‘m not sure it is strengthening much more

than 18 months ago. the fundamentals remain true with the european market being much more important to the uk than the uk as a market to any individual european country. as a result we obviously have more to lose. but let‘s be clear, everybody has something to lose, it‘s not a game of winners and losers. regardless of the outcome? if we get towards a good deal than it doesn‘t have to be a huge economic rupture. so not regardless of the outcome, but it seems the prime minister‘s restraints at home with her party, so restraints at home with her party, so it seems the chequers deal was a deal among her own parliamentary party, it‘s not actually a deal in any sense with european countries. tom, we will have to leave it there but i‘m sure we will return to this. thanks very much. we will keep an eye on salzburg with eu leaders arriving right now. let‘s take a look at some of the other stories making the news. malaysia s ex—leader najib razak was arrested on wednesday and will be charged over allegations that

$628 million linked to state investment fund 1mdb ended up in his personal bank accounts. razak is facing 21 money—laundering charges and is expected to appear in court later today. argentina‘s economy shrunk by 4.2% in the second quarter, its sharpest year—on—year slowdown since 2014. the slump comes amid a damaging drought and a currency crisis that has prompted the central bank to raise interest rates to 60% and the government to cut spending. argentina has requested a bailout from the international monetary fund. nosebleeds, debt and the taxman have all made it a bad 2a hours forjet airways. india‘s first privately owned airline had to turn back a flight from mumbai tojaipur after the cabin crew forgot to switch on the cabin pressure system, causing dozens of passengers to suffer bleeding from the nose or ears. it came as indian tax officials

announced they were investigating the airline‘s books. let‘s hearfrom china now, and the northeastern port city of tianjin where business and political leaders are gathered for the world economic forum. it is called the summer davos, many influential people there. among them, jack ma, founder of e—commerce giant alibaba and one of china‘s richest people. he has been addressing the event, and the us—china trade war is on his mind. 0ur asia business correspondent karishma vaswani has been listening to what he had to say. we‘ve heard a lot about how american businesses have been affected by this trade war. today, we got some signs of how chinese companies operating in the united states might be affected, too. alibaba‘s chairmanjack ma has rowed back on his plans to create a million newjobs over the next five years in the united states because of the trade war.

he says that the relationship between the us and china has been soured as a result. mr ma was speaking at the world economic forum in tianjin on a panel on entrepreneurship. he didn‘t directly reference his plans in the united states but he did talk about the impact of the us—china trade war and said when he was speaking to chinese entrepreneurs or people who wanted to go into business, that they needed to plan for this for the next 20 years. he also spoke about the clash of these two countries. i thought it was very interesting when he said that china prioritises harmony, while the west prioritises competition. he said that for these two cultures to understand one another, they need more dialogue. i think that‘s advice that many would like the us and china to heed as we head into what looks like a protracted trade war. looking at the asian markets in

general, a fairly flat session to be honest, but again a positive end with games on wednesday. investors continued to look on the bright side, perhaps an optimistic view that a deal could be done between the us and china in the future when it comes to trade. looking at europe, some specific stories, moving markets, french connection with poor sales, down 7%, so shares in london down 2.5%. the chief executive of bat has announced his retirement after 18 years. bat in the news. and aston martin have named their share price range for when they come to market. they will list on the financial markets, £17 .50 - £22.50. that list on the financial markets, £17 .50 — £22.50. that would value the

company around £5 billion. and samira hussain has the details of what‘s ahead on wall street today. the us federal reserve will release its flow of funds report for the second quarter. so, the previous four months of this year. one of the key figures that comes from this report is the financial health of american households. unsurprisingly, this shows how much money people are spending versus how much money they have in assets. and overall the information from this report is used as a gauge for how well the wider us economy is performing, because it looks at all sectors — households, nonprofit organisations, corporations and farms. joining us now is chrisjustham, who‘s the relationship manager for seven investment management. thank you for coming in. let‘s start with biaggi, the global drinks group. they have had a little bit of an announcement today when it comes to their four—year profits. —— let‘s start with diageo, the global drinks

group. the main headline is the impact on sales and profits for the year. a negative impact with regard currency fluctuations in the business with a huge multinational corporation that exposes themselves toa corporation that exposes themselves to a lot of countries across the world. 9% of their sales come from latin america, 14% from africa. as emerging market currencies in particular have been impacted by the fa ct particular have been impacted by the fact interest particular have been impacted by the fa ct interest rate particular have been impacted by the fact interest rate rises are expected to continue in the us, with a stronger dollar, meaning more capital moves to the yes so it‘s harderfor capital moves to the yes so it‘s harder for emerging markets to get capital. that's one of the main headaches for diageo, when you think about what they do selling alcohol, and they sell high end and also low end as well, they are fairly immune to the buffeting elements in the global economy, but the currency movement is a real headache. that's right, it affects every business, it doesn‘t matter how good your brand is or how much you are selling to a

degree, it‘s incredibly difficult to get the hedging right, as we have seen with businesses with regard brexit. the exposure can be positive oi’ brexit. the exposure can be positive or negative and unfortunately they are on the wrong side of the fence this time. the wrong side of both sides of the fence. chris will take us sides of the fence. chris will take us through the papers a little bit later. still to come... how is africa weathering the emerging markets storm engulfing the likes of turkey and argentina? we‘ll talk to the chairman of one of the continent‘s leading banks, nigeria‘s zenith. you‘re with business live from bbc news. the rail regulator in the uk says "nobody took charge" when new timetables were introduced in may, leading to weeks of chaos and hundreds of commuter services being cancelled daily. it was really difficult for many of

you and you got in touch with us. the office of rail and road has concluded that network rail, the two train companies involved, and the department of transport all made mistakes. 0ur north of england correspondent fiona trottjoins us now from preston. so where did it all go wrong? like you say, all of them in this report made mistakes. they are all to blame in some way, specifically the report said in in northern‘s case. network rail was mainly to blame because electrification work overran. they have been waiting for it in the northwest for two years now meaning northern rail couldn‘t implement the new timetables in may with good enough time. in govia thameslink‘s case, it was partly because of a late decision from the department for transport on how to phase in some changes. that late decision on those delays meant the company failed to train enough drivers on the new routes. when you

speak to passengers impressed in this morning they will say this report confirms what they already know, customers were not put first. everybody in the rail industry was more concerned with panic and logistics, which is why the government today says it will bring ina government today says it will bring in a whole review of the rail industry. that‘s something they welcome here this morning. they say they will have a review, but surely they will have a review, but surely the regulator is also to blame for this. they knew what was going on. in fact, everyone knew what was going on. what they needed was action before this happened, not a review afterwards. exactly, so why weren‘t people holding up their hands earlier, in autumn of 20 17th when network rail couldn‘t perceive any problems and why wasn‘t the flag raised? the any problems and why wasn‘t the flag raised ? the government any problems and why wasn‘t the flag raised? the government says it wants to now improve services for people and give them value for money. it says it will look at three specific

things. whether contracts between the government and train operators needs to be more flexible, and whether the public track and private trains can be better implemented. it wa nts to trains can be better implemented. it wants to implement these plans by 2020. fiona trott, thank you, our north of england correspondent. your‘re watching business live — our top story... there‘s no sign of a brexit breakthrough at a meeting of european leaders in salzburg. these are live pictures of them arriving. angela merkel, the chancellor of germany with theresa may. just arriving, smiling and chatting and hiding their frustration at this point. it must all be for the cameras and media, who all outside. no doubt another difficult day of discussions ahead. we will keep you updated and go to the website if you wa nt to updated and go to the website if you want to live updates from the meeting. we can move on to talk

about africa. it‘s different to what has happened in other parts of the world. crises in turkey, venezuela and argentina have increasingly raised concerns about emerging economies in recent months. so where does that leave african nations, once the darling of many investors? well, according to the world bank, economic growth in sub—saharan africa will hit around 3.1% this year. and things should get even better — the forecast for next year is 3.5%. but it‘s thought the larger economies — especially the oil exporters — will see growth hampered by the slow recovery in crude prices. and there we are looking at nigeria in particular. and although there is a burgeoning middle class of around 350 million people, estimates suggest more than 408 million people live in poverty. so, is the glass half full or half empty? welcome, jim 0via, the chairman and founder of one of africa‘s biggest banks —

zenith, of nigeria — with more than $16 billion in assets and operating around africa and here in the uk. welcome to the programme. you were politely listening to our introduction where we describe some of the challenges and issues and what some say about the outlook for africa. but you are here with a message that you want to get across to those watching. actually there is enormous opportunity. thank you for inviting me. my objective is to change the narrative of africa, the perception of african countries in africa as a continent, that africa has always been a continent of military coups and corruptions and economic wars. but that has to change. and you need to get a copy of this book! nothing we could do to

stop you there! africa, rise and shine. the narrative had to change. around 30 years ago, truly, many african countries were under military rule. but only two years ago, in 2016, more than 50% of african countries had conducted successfully democratically elected governments. and today there is no single african country that is under military rule. so africa has risen and is shining. the title of your book, africa, rise and shine, and you are book, africa, rise and shine, and you a re clearly book, africa, rise and shine, and you are clearly optimistic, but one would argue there are still corruption scandals that embroil some african nations and still allegations, and a huge amount of conflict that goes on, and difficulty trying to oust leaders and leadership. 0ne difficulty trying to oust leaders and leadership. one would say it has been a long time coming, the change in the narrative, but perhaps there

are still very good reasons why people are worried about investing in the continent. truly so, that's understandable about 30 years ago. but 28 years ago, to be precise, 1990, we founded zenith bank with just 4 million us dollars. today, zenith bank, with a total assets base of 16 billion us dollars. there is no doubt that you have done a fantastic job is no doubt that you have done a fantasticjob in is no doubt that you have done a fantastic job in growing is no doubt that you have done a fantasticjob in growing this bank from $4 million to 16 billion, that‘s extraordinary, but how much of it was predicated on the oil price and the growth in nigeria as an economy as a result of oil? truly so, 20, 20 something years ago, the price of oil was way below $20. and today, when we are worried about the price of oil, when the price of crude oil crashed to 40 or $50,

there was a worry nigeria would experience some kind of recession, but it has bounced back since then. what we now have, the price of oil is close to $80 will stop the most important thing to note, nigeria is arguably the largest country in africa in terms of population and in terms of gdp, the gdp of nigeria is pretty close to 500 billion us dollars. nigeria provides tremendous opportunity for economic growth. it isa opportunity for economic growth. it is a country of tremendous opportunities, and a country of infinite possibilities. for that reason, we also think that the narrative of africa, particularly nigeria, has begun to change. jim, we will leave it there, because this programme is jam—packed with so much was that it‘s been great to have you with us. africa, cesc rise and shine

is out there for viewers. we hope to see you again. so much more to fit m, see you again. so much more to fit in, so let‘s crack on. this is how we can keep in touch with us. stay up—to—date with all the day‘s business news as it happens on the bbc‘s business are live page, with insight and analysis from teams and editors around the globe. we want to hear from you, editors around the globe. we want to hearfrom you, get editors around the globe. we want to hear from you, get involved on the web page. we are also on twitter and facebook. business live on tv and online. what you need to know, when you need to know. what other business stories has the media been taking an interest in? chrisjustham joins us again to discuss.

0ne one of them is quite a serious story aboutjet one of them is quite a serious story about jet airways having one of them is quite a serious story aboutjet airways having all sorts of problems. but one of them is very basic. when you fly you expect to be in comfort and one flight provided none of that. forgetting the oxygen, not pressurising the cabin. it's absolutely horrendous. it's usually damaging toa absolutely horrendous. it's usually damaging to a business, and it should be. you expect as a bare minimum to be safe when you fly and they forgot to pressurise the cabin. terrifying to think those processes, procedures and fail safes are not in place when you fly and you are not protected. it‘s not a good look. place when you fly and you are not protected. it's not a good look. not a good headline. you will think twice before booking withjet airways. really difficult time for this airline. they are in the news for all sorts of reasons. let‘s talk about something a bit happier. this tickled us this morning. lots of

ghost towns. this is happening across europe and lots of other places. small villages that have struggled as a result of urbanisation. young people leaving and communities are dying. so some towns in italy have a solution. this company, which translates as scattered hotels, young people running to the towns for opportunities and jobs and the lifestyle that big cities offer, they leave behind ghost towns and empty buildings. what they are doing, really innovative, they are turning empty buildings into hotels and places for people to stay. it‘s and places for people to stay. it‘s a great idea, because if you go to any major european city, and anywhere across the world, they are jam—packed with tourists. it‘s not a genuine experience of that country. it gives a really good opportunity for these local towns to build a

local ecosystem and economy and make some money as well as give people a genuine tourism experience. it‘s a great idea. right and what is your worst work blunder? we are thinking of cathay paciic right now. this is so embarrassing. i have never been in something that‘s important. my firstjob was at mcdonald‘s and i tried to cook chicken nuggets on the hot plate where they had burgers. that means nothing to you but it‘s a major error. it's a big faux pas, mixing beef and chicken. major error. it's a big faux pas, mixing beef and chickenlj major error. it's a big faux pas, mixing beef and chicken. i didn't last very long. did you confess? look what happened to you! i'm now cooking at home, so it‘s a double win. thank you, chris, a great story. you have sent in many. do ta ke story. you have sent in many. do take a look and share your story as well. thanks for watching 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. yesterday it was all about the wind,

with storm alley. that has now cleared away and the focus is on some heavy rain that will move its way in and on top of that, later on, also turning pretty windy for some of us. we have a weather front this morning across southern parts of england. looking out to the atlantic, this little kink in the weather front, we call it a waving weather front, we call it a waving weather front, we call it a waving weather front in meteorology and it intensifies the rainfall as we go through the day. this morning, bright skies across the south—east of england and eventually the south—west as well. the north of scotla nd south—west as well. the north of scotland and northern ireland, showers moving in, but sunny spells with temperatures at 14—15, and in the south, 19—21. focusing on the rain, it will be heavy later this afternoon. the dark blue and green, torrential rain over the hills of north wales and into northern parts

of england, particularly over the pennines. we could see quite widely, this swathe of rain, around 60 or 70 millimetres of rainfall and over the higher ground this evening and overnight, there could be as much as 100 millimetres of rainfall and that could cause problems. there will be strong gusts of wind as well. 50—60 mph. heavy rain and the strong blustery winds going with it will gradually work further east, but overnight tonight there could be some issues because of the rain and the wind. temperatures overnight, 11-13d the wind. temperatures overnight, 11—13d across the south, in the north, 6—7. 0n 11—13d across the south, in the north, 6—7. on friday, the rain moving out of the north sea and we are moving out of the north sea and we a re left moving out of the north sea and we are left with showers moving into the north and west. sunny spells between the showers but again a blustery north—westerly wind and feeling much chillier tomorrow compared to today, especially in the south with highs ofjust 18 degrees.

11-13 south with highs ofjust 18 degrees. 11—13 further north. into the weekend, it‘s going to start off relatively fine but then we have an area of low pressure that will develop as we go into sunday. some uncertainty still on the area of low pressure as it moves in. it will stay fairly unsettled over the weekend and the driest of the weather will be on saturday. by sunday, that‘s when we could see some heavy rain and strong wind. more so in the moment down towards the south and east of the uk. hello. it‘s thursday. it‘s nine o‘clock. i‘m victoria derbyshire. welcome to the programme. what‘s it like to be in love but never have sex? relationship experts have told this programme that they are seeing a rise in people living in low or no—sex partnership. i‘m charlotte. i'm jacob. we‘ve been together for four years. we haven‘t had sex for the last three of them and we‘re not planning to. yeah, we're very much in love but it's not part of our relationship. and figures today seen by this programme suggest almost one in five people under 30 in a relationship never or almost never have sex.

you can watch our film at 9.15. nobody took charge during the chaos caused by changes to train timetables earlier this year. that‘s the verdict of the rail regulator in a report out today. we‘ll hear from the man representing the train