this is business live from bbc news with sally bundock and ben thompson. a pounding for sterling after the british prime minister postpones the key parliamentary vote on her brexit deal — to avoid a crushing defeat. live from london, that's our top story on tuesday 11th december. theresa may is now heading to europe to seek further assurances about the northern ireland border plan. but can she persuade eu leaders to renegotiate the agreement? also in the programme... chinese stocks get a boost from the news that beijing and washington have held talks — at least on the phone — on the next stage of their trade talks. the markets in europe are all heading upwards for now, we will

talk you through the winners and losers. also coming up... how a trip to thai beach drowning in plastic sparked a new business idea — to cut the impact of plastic waste. we'll get the inside track from the man behind metal cans — of water. and as barclays launches an app to let customers to turn off certain types of spending to keep gambling, drinking or other vices in check, we want to know, will it work? let us know, use the hashtag #bbcbizlive. hello and welcome to business live. we begin with brexit yet again. the pound has slumped after the uk prime minister postponed a key parliamentary vote on her brexit deal in the face of a crushing defeat. theresa may will today meet eu leaders in the hague, berlin and brussels, to try to rescue her brexit deal. but senior eu officials have already warned they won't renegotiate the agreement. so what's the reaction among uk business leaders?

well, this is a word cloud we've created of some of the main concerns in the corporate world, including "no—deal", "uncertainty" and "messy". specifically, the director of the british chambers of commerce dr adam marshall said: "firms are looking on with utter dismay at the ongoing saga in westminster, and express concern that politicians are seemingly acting in their own interest, with little regard for the millions whose livelihoods depend on the success of uk business and trade". and this from the head of the confederation of british industry carolyn fairbairn: "unless a deal is agreed quickly, the country risks sliding towards a national crisis." ( pres ross denton is a trade partner at baker mckenzie.

what we have heard over the last 12 hours, theresa may wants to go back to brussels and say give me something to get this vote through. what does she want? she is clearly stuck in a balance at the moment, she can't open the rear negotiations oi’ she can't open the rear negotiations or ask for them to be opened because that will risk the other side looking to get things... more things out of the deal, spain with gibraltar, france with fishing. she can only ask the reassurances or assurances, adding to what we haven't asking for clarity help assuage people concerned about, for example, the backstop. that is probably one of the key sticking points as far as getting the votes she needs. we heard from the irish prime ministers leo varadkar, he said you can start to renegotiate a

little bit of it, be that the irish backstop, without unravelling some other things, you cannot choose an isolation. the girl when she opens that it isolation. the girl when she opens thatitis isolation. the girl when she opens that it is effectively pandora's box, everything starts again. we do not have time to do that. she is looking to add political statements to the current text. we know brussels has laid out its stall and said there is no negotiating, this is the available deal, either vote edged through or don't, does she have a chance of getting concessions in brussels? she might get some additional wording and political state m e nts additional wording and political statements that explain parts of the current agreement, i think it is very unlikely, and we don't have that much time left, to renegotiate significant portions of the deal, and the backstop has been the most contentious. most of the other issues in the withdrawal agreement, i will not say they flew through but they were easily agreed, all this

time has been around the backstop. labour, the opposition party in the uk, are very angry that the vote can be delayed and pushed further down the road. what do we know about the timing of what happens next? mrs may does not have other dates to live up to, she has her deal so shejust needs at some point to get parliament to agree. frankly, she may be looking up pushing it to the wire and hoping people say it is heard seal or no deal and take a deal. quite a negotiating strategy. thank you, ross denton, trade partner as baker mckenzie. ican partner as baker mckenzie. i can guarantee that we will talk about it again! let's look at some of the other business stories. france's president emmanuel macron has promised a rise in the minimum wage and tax concessions after recent protests in paris. mr macron said the minimum wage would go up by $115 per month from 2019 and a planned tax increase for low—income pensioners would be cancelled. but he's so far refused to reinstate a tax on the wealthy, saying, it would weaken us.

us chip—maker qualcomm says it's won an injunction against apple that bans the import of a number of older iphone models into china. the order, issued by a chinese court, is the latest development in the feud between the two tech giants over intellectual property. however, apple says all of its iphone models remain on sale in the country. india's currency — the rupee — has fallen by over i% against the us dollar, a day after the surprise resignation central bank chief urjit patel. his exit comes after reports of a rift between the reserve bank of india and the government. mr patel said he had resigned for personal reasons, but the move appears to have unnerved investors. a canadian court has adjourned for the day with no decision on whether to grant bail to meng wanzhou, the chief ms meng, who awaits a ruling on her extraditon to america, faces accusations that she misled banks about huawei's control of a company operating in iran, putting the banks at risk of violating us sanctions.

chinese markets picked up this morning on news of a phone call between us and chinese officials to discuss the next steps in trade talks between the two powers. who knew a telephone call could make such a difference? china's ministry of commerce said officials set a road map for the next stage of consultations. first, robin brant is in shanghai. who was calling who? apparently china's vice premier, the man leading the trade talks, the chinese delegation, made the call to the man he was now his american counterpart, robert likewise, the us trade representative who has been a lawyer for some 30 years and is seen as more hawkish in terms of his stance on how china needs to change. america's treasury secretary was

also on the call. investors feel more positive because at least they are talking, particularly in light of the arrests as the request of the americans in canada a few weeks ago of the huawei chief financial officer, that has gone down very badly in china. the talks about talks are being seen as positive, get used a lot of reference to the road map in the context of a 90 day period with the escalation of ta riffs period with the escalation of tariffs on the us side, it has been frozen and there are no 79 days left, by my calculation, until march one, a period in which the us and the chinese side need to talk about the chinese side need to talk about the talks and work out what they can agree on, and it appears the process has started. thanks, robin, with the story that moved markets during the asian trading session. japan was down by 0.3%. hong kong,

shanghai and other markets in asia have been given a lift by the news mentioned by robin, boosted by the fa ct mentioned by robin, boosted by the fact that wall street closed higher for the first time in a few sessions. in europe, markets are higher across the board, don't forget they all closed down, most of the european markets, yesterday. london was down by 0.8%, the ftse 250 had a very difficult session, domestically dominated because of brexit etc. a big mover today is wpp, its shares are up nearly 7%. the new chief executive mark reid outlined a new strategy. he took over from outlined a new strategy. he took overfrom sir martin outlined a new strategy. he took over from sir martin sorrell and the wpp is doing well today. michelle fleu ry wpp is doing well today. michelle fleury can tell us what is happening on wall street. the boss of google is headed to washington, the alphabets ceo will

testify to congress and is likely to hear that its search algorithms are biased against conservatives. there is plenty of scope for him to clash with lawmakers on the right and left over a major data breach that expose the personal information of google plus users and the company's plans to build a censored search engine in china. expect bowing to be in the spotlight because the aircraft maker is in the middle of a recovery plan for its top selling 737 jetliner. —— expect boeing. in the past the company has said it efforts would not play off until the end of the year and we will find that out when it reveals its numbers for november. —— would not pay off. with us is james bevan, chief investment officer at ccla investment management. we will briefly talk brexit and maybe get onto more exciting stuff. it is exciting if you live in

britain explanation it has been going on for a while! we will talk about the currencies and what bond markets tell us about their perception. currency markets say we don't want to be in the pounds, we have sold the pounds, sold the pound down, some people believe there is a reasonable chance we will see parity in the period ahead if we get a no—deal brexit, which would be truly scary. good news that exporters even if importers and the public would have problems. people say there will be big swings the markets until we know the deal that will be agreed upon, we have three big, strong political groups pulling in all directions, meaning lots more volatility?” com pletely meaning lots more volatility?” completely accept that equity volatility has been elevated and will remain so, i don't believe the uk will be a special case on the downside, so much of the bad news is baked in the cake. i would suggest there are three groups in the uk

market, the utilities and the regulated entities mr corbyn has already said he will have nationalised, they have been caned pretty poorly. the rather domestic businesses which will struggle in the uncertainties we face, and the global businesses, the likes of day ajio and unilever, who benefits from a weakening currency and who i believe are well placed in a global context to do well. —— the likes of diegeojunor leader. context to do well. —— the likes of diegeo junor leader. we will be sort of on track if we get a fourth—quarter figure of around 1.3% over the year, that will be the worst figure since the recession? the uk economy has a deficit as household level, at government level and corporate level and a current account deficit meaning we import more than we export. none of that is a recipe of good news for the uk economy and i put it down to the compositional problem that we do not make enough to sell, but will have

to be changed radically over a period of time. and things may only get worse. nice to see you, james. james will be back to talk about some of the other stories, including ba rclays is launching some of the other stories, including barclays is launching an app for your credit or debit card that will turn up certain types of spending, so if you can't resist going to the bookies or to the pub, it. he's spending in those establishments, let us know what you think. —— or to the pub, if you can't resist spending in those establishments, letters know what you think. still to come... how a trip to thai beach drowing in plastic sparked a new business idea — to cut the impact of plastic waste. we'll get the inside track from the man behind metal cans — of water. you're with business live from bbc news. let's get specific about some of the

move rs let's get specific about some of the movers on the markets. more tough times for the struggling flooring retailer carpetright. its shares are up to date, however. __ up, its shares are up to date, however. —— up, today. it's just reported a loss of £11.7 million, despite slashing costs by £19 million this year. the firm has been closing stores in an attempt to stem losses. neil wilson, who follows the firm's performance, is with us this morning. nice to see you. it is interesting, carpetright, every time we get an updated sort of tells a familiar story that it is trying but not really succeeding? it has struggled over the last couple of years, the consumer headwinds we have seen in the broader retail markets, there is fresh competition with the company going head—to—head with some of its most competitive stores, it has been about this legacy store portfolio thatis about this legacy store portfolio that is too large. it was over

rented, they said, in the sense that the rents are always rising and the cost base is too height for carpetright. it had some very well performing stores and lots of underperforming stores. the process at the moment is really about fixing that key problem. 0nce at the moment is really about fixing that key problem. once we see that fixed and the profitability returns, it looks like there are some encouraging signs from carpetright. we talk a lot about the high street suffering because of online, but if you're going to get a carpet flooring, you want to feel it and try it out and they don't seem to be able to make that work. no, but there are no competitors, amazon is not coming with a great hard flooring offering or anything like that. i think the carpetright website and online offering is quite strong, really people still need to go into store to do that. it needs

the stores, it just go into store to do that. it needs the stores, itjust does not need so many and quite such a large stores to do that. thanks very much, niall wilson, chief market analyst at markets. com. wpp and carpetright are the two big move rs wpp and carpetright are the two big movers on the ftse today. more analysis on brexit as well. you're watching business live — our top story... british prime minister theresa may is in the hague, on the first stop of a european tour to try to rescue her brexit deal. the pound slumped on monday, as she postponed a key parliamentary vote on the deal, in the face of a crushing defeat. she was worried about that. she will

now return to brussels to try to get some concessions, but can she get them? now let's take a break! now — holidays often have the power to inspire us. see new things, experience new cultures. eat a new types of food. well, our next guest was so horrified to see a beach in thailand drowing in plastic, he came home and vowed to do something about it. one study says around eight million tonnes of plastic waste find their way into the world's oceans each year. and those bottles, packets and wrappers are used just once, but can take at least a50 years to break down. so what's being done? well, a year ago all 193 members of the un pledged to cut the amount of plastic that ends up in the sea. and our next guest is playing his part... he founded can0water — after that trip to thailand, in an effort to cut the amount of plastic we use. ariel booker is the founder of can0 water. welcome to business live. take us

back to that beach in thailand, lots of people are inspired when they go away but very few do anything about it, but this must have been instrumental in your perception of a huge global problem and something you wanted to change? sure. i guess the horror was that it was an uninhabited islands, there was no one there, it was somewhere quite far out one there, it was somewhere quite farout in one there, it was somewhere quite far out in the ocean and there was plastic everywhere, plastic bottles in particular, fishing nets. it was quite an eye opening and thought—provoking moment. why is this happening and what can be done? so you went from bad to a business that has been running for a few yea rs, that has been running for a few years, making money, in the black. talk as through thatjourney? years, making money, in the black. talk as through that journey? my friends and i who accompanied me on that journey came friends and i who accompanied me on thatjourney came home and we started looking at different types of packaging, what is better and more recyclable than plastic? there

we re more recyclable than plastic? there were not many cans on the beaches, so we started doing a lot more research and naturally we found the benefits of aluminium versus plastic bottles, aluminium is infinitely recycla ble, bottles, aluminium is infinitely recyclable, as long as you recycle it hit will come back as another camp. but it uses more energy and resources to make a can? plastic is pretty cheap to manufacture and sort of get rid of, but it is arab session with clear plastic that is the problem? three quarters of the aluminium we use today was first mind back in the 1800s, it continuously goes to its life—cycle, it does not lose any quality. the damage of mining aluminium, to an extent, was done some time ago, we are infinitely reusing it. people find water in a can of bit weird and they had to overcome a psychological barrier, also the fact you can't really seal a can? you can now. we

launched can0 water with the reseala ble launched can0 water with the resealable can, you can open it like that, slide it back and close it like that. it is closed and it is yours for the day. some would argue that shipping water around the world is fundamentally the problem, regardless of what it comes in. it comes from parts of europe, fiji, for example, for a certain brand, you should be selling reusable bottles which we fill at the tap, thatis bottles which we fill at the tap, that is the most environmentally friendly? we saw the need for an alternative in the current market. many people will forget their reusables, be lazy, not want to clea n reusables, be lazy, not want to clean them, we are offering a solution to an everyday problem. we will also sell reusables next year. all your cans of water come from austria, you sell most of them in the uk, how you preparing for brexit and what are you preparing for? we

are stockpiling, holding a lot of stock, it has a two year shelf life so we can backfill production, we hope the deal will go through and there will be no delays at the border. if there are delays at the border. if there are delays at the borderfor two or three border. if there are delays at the border for two or three months, border. if there are delays at the borderfor two or three months, to what extent will that impact you? we have enough stock, we hope that worst—case scenario is four or five days of delay at the border. the us is now a big target for you and we know that in terms of plastic consumption it is the biggest targets, how do you break into such a huge market? a combination of very good marketing and a strategy that hits people in their home, in retail, in leisure. it is a very big animal to tackle, we're working on a launch strategy and the right partners, it is creating the noise, which we have done quite well, if we can replicate a small percentage in the us then we will be happy. really

nice to see you, ariel brooker, the founder of can0 water. the american tyre company goodyear has become the latest multinational to pull out of venezuela, blaming dire economic conditions and the impact of us sanctions. what impact is it having? 0ur reporter kim gittleson has more ten tyres, what over 1000 goodyear workers based in venezuela will get as part of their severance after the multinational firm goodyear said as part of their severance after the multinationalfirm goodyear said it had made the difficult decision to stop producing tyres in the country. goodyear said there economic conditions and the threat of us sanctions had made operating in venezuela no longer viable. it is just the latest firm to pull out of the country in what some analysts have called an exodus of foreign corporations. here is one reason those workers are happy to be paid in tyres, just this year inflation hits one point 3,000,000%. tyres are

valuable on the black market that list. —— inflation hits second. some have blamed the socialist prime minister madeira. james bevan, chief investment officer at ccla investment managementjoins us again. you have been keeping an eye on venezuela, and you can explain about goodyear? the goodyear tire issue, when he has such rampant inflation, people want goods and go back to a barter economy, it is much better dad something that will keep its value than currency, which devalues, the bolivar is down 90% the dollar in the last year. people tend to say i will take that bag of nappies if you want my sugar, that sort of scenario. absolutely, that happens to economy is experiencing

hyperinflation, which is what venezuela faces. not good news that another international player is pulling out of venezuela. it looks like the situation is worsening. it will eventually tip venezuela over the edge and having to reach an agreement with the global entities that will rightfully determine how we get back to democracy and a sensible footing for the economy and society. this is a story in the telegraph and on the bbc news website that ba rclays bank in on the bbc news website that barclays bank in the uk is launching an apt to allow customers to turn off certain parts of their spending, so if you may be walking past a bookmaker or the pub you can stop yourself spending in those places. is that good news? i think if you're going past the bookmaker and you can't place your bet, that is great. not providing the opportunity is a great means of helping people get over the addiction. i am less convinced it will work with restau ra nts a nd convinced it will work with

restaurants and pubs, because you drink yourdrink, or do restaurants and pubs, because you drink your drink, or do your meal and then you can display and it will bea and then you can display and it will be a real challenge. —— order your meal. the idea that there are things you can switch on and off, how it processes what you can and cannot do, many of you have been in touch, craigen scotland says it is a great idea and i am surprised it has taken so long. leanne says addicts do not turn off, the idea that it is volu nta ry. turn off, the idea that it is voluntary. chris says a great idea, ba rclays are voluntary. chris says a great idea, ba rclays a re not voluntary. chris says a great idea, barclays are not the first to do it, other banks have done so. jerome from london says bizarre that people would want to tell their bank they have an alcohol or a gambling problem. i think of people recognise they have problems and need help. thanks for being with us, graham. we will keep you across all the news when you need to know it on the bbc. we will see you same time, same place tomorrow.

we had a frost this morning across eastern and central parts of england, elsewhere temperatures stayed above freezing, quite a bit more cloud this morning and for today many will see quite a bit of code, more towards western areas. from the satellite imagery you can see the cloud across northern ireland into western fringes of england and wales and scotland, the clearest skies always towards eastern and central areas where today you will have sunny spells, temperatures about five to 7 degrees. further west, temperatures about five to 7 degrees. furtherwest, more cloud, some spots of rain across the west of scotla nd some spots of rain across the west of scotland over the hills of wales and south—west england, but less cold, temperatures around about nine to 11 degrees. tonight, lots of cloud. the rain will gradually move m, cloud. the rain will gradually move in, breaking up as it pushes further

east. some patchy rain across western areas, clearer skies towards the east, temperatures could get close to freezing but perhaps just above freezing, 69 degrees further west. the weather front is bringing the rain on wednesday morning, as it moves eastwards it moves into the area of high pressure so it weakens all the while, some very patchy rain across western scotland, northern ireland, wales and the south—west of ireland. sunny spells towards eastern areas, perhaps we will see a greater chance of brighter skies developing across north—west england, east wales and central and southern england later in the day. six to seven or 8 degrees in the east, nine to 11 further west. into thursday, a fairly brisk south—easterly wind. cold air from russia and siberia moves in across the uk, a noticeably colderfeeling day both on thursday and friday. temperatures about a26 or seven

celsius, but there will be significant wind—chill, it may not feel much above freezing. staying mostly dry on thursday and friday. going into the weekend, we will have the weather system coming in from the weather system coming in from the west and it is bumping into the cold air, so the risk of snow falling across northern parts of england and scotland for a time during saturday. much of it will be of higher ground that there could be quite a bit and some disruption. stay tuned to forecast. goodbye. —— to the forecast. ‘s

you're watching bbc news at nine, with me, annita mcveigh. the headlines: theresa may pleads with european leaders, as she battles to rescue her brexit deal. she's in the netherlands this morning, and in germany this afternoon — a day after she cancelled the vote on her withdrawal deal, citing concerns over the northern ireland border plan. but she's facing an uphill battle as the european commission's president says it's not possible to renegotiate. the deal we has —— have achieved is the deal we has —— have achieved is the best deal possible, it's the only deal possible. applause. there is no reason whatsoever for renegotiation. here in westminster, mps will hold an emergency debate this morning on that decision to delay the vote. the father of murdered backpacker, grace millane,