at westminster, and maryam moshiri here in the studio. another day and another big brexit vote here at westminster. willa vote of confidence in thersea may's government give businesses any more of the certainty they crave? live from london, that's our top story on wednesday 16th january. the deal that britian‘s prime minister agreed with the european union was roundly rejected by parliament last night, so where does the country go next? and what does business want? with the markets now open in london, we'll be live on a trading floor in the city to see what investors make of the latest developments — and we'll head to asia to find out how britian‘s political drama is going down there. as ever, we want to hear from you — if you have any thoughts or comments on what you see on the

programme let us know. just use the hashtag bbcbizlive. hello and a very warm welcome to business live. another day and another big vote here at westminster. the british government will face a no confidence vote this evening that could lead to a general election. this follows the comprehensive defeat of theresa may's brexit withdrawal deal. that's led to yet more questions and indeed more unceratinty for business and everyone else about what the uk's future trading relationship with the european union will look like. with 432 mps voting against, it was the biggest government defeat on record and the biggest conservative rebellion, while just 202 voted for the withdrawal agreement that the prime minister has spent the best part of two and a half years negotiating. that is a very substantial defeat,

by 230 votes, for the current deal — something which led the labour opposition party to try and force a general election. the president of the european council, donald tusk, has signalled that he thinks cancelling brexit is the best option now. but the president of the european parliament says no deal preparations now need to be stepped up. translation: we'd need to prepare for the prospect of the uk leaving without an agreement. i think it's only right and proper, and this is the position of the european parliament, to focus first of all on the citizens of the european union living in the united kingdom, and british citizens living in the rest of europe, because there are suffering from uncertainty and they would be the first victims of a disorderly withdrawal of the united kingdom. well, with me is our political correspondent rob watson.

we've had the events of yesterday and i have this motion of yesterday and we have this motion of no—confidence lead against the government and there will be a vote this evening. so where do we go from here? theresa may has two challenges, firstly to survive the no—confidence vote, which i think she will, then the almighty challenge in british politics, to solve the brexit crisis, after her humiliating defeat on wednesday. what is she going to do? she has four is very horrible choices, it seems to me. one is to soften her approach to brexit, to reach out to the other parties, involving fracturing the governing conservative party which he has been relu cta nt to conservative party which he has been reluctant to do. she could go for a no deal but we know that she hates that as well. fourthly, and what seems increasingly likely to me, she could ask brussels for a delay to

give britain more time. the pound rose after the defeat in the commons yesterday — some say that's because markets consider that most mps oppose a no deal scenario and that there's a greater chance of brexit not happening — what do you think? mps rallying against our hard deal? i think businesses are keeping their fingers crossed that no deal looks less likely, just because the majority of parliamentarians, although they might not be for very much, but one thing they are definitely against is a no deal brexit and i think the business community does also hold out the hope that maybe there would have to bea hope that maybe there would have to be a second referendum or a softer brexit. i think it is worth seeing, pulling back from all of this, business continues to think brexit is insane. you would be hard—pressed to find a business in britain that doesn't think, "what on earth is the

government doing? what on earth are people voted for?" another underreported aspect, the business community detaching itself from the governing conservative party, a very profound development. rob watson, thank you. let's hearfrom profound development. rob watson, thank you. let's hear from the world of business and we will go back to maryam for that. thank you, ben. nicole sykes is head of the eu negotiations team at the confederation of british industry, which represents nearly 200,000 companies of all sizes. we heard they are what rob watson was saying about businesses and what they think about what happened last night. what is the cbi stands today, what businesses telling you? they are what businesses telling you? they a re really what businesses telling you? they are really very worried about heading toward no deal, what they are worried that last night might mean, because there is no agreement. yes, agreement against no deal, but no agreement for anything yet. businesses are really asking for two things, firstly some leadership from politicians, backbenchers, government, together, working for some sort of compromise and unity that can get this deal moving because it has been a very long time for love uncertainty. the second

thing they are asking for, please don't go if you start don't go backwards. if you start towards no deal, if towards i light towardsi light touch ., m afiugfags :: 7:73”: ~— 7— ,..,,,,. been pretty would like customs union, a deep regulatory a customs union, a deep regulatory relationship with the eu, but they think there might be some sort of consensus for that within politics, but mostly it is "please move on, please compromise. we need coalition builders, we need people who will bring things together, notjust stick to their ideal option on and on. we need things to change, we need some compromise." chancellor philip hammond called your director—general last night and the president of the cbi. what kind of reassurance were you given? think there was a reassurance that would be some sort of change. they are looking to be more constructive, looking to be more constructive, looking to be more constructive, looking to try to build consensus a cross parliament. i think there has been that acknowledgement from politicians things can't go on as they currently have —— across

parliament. the only problem is we're running out of time. arguably for a lot of businesses we already have run out of time, they are implementing contingency plans, have pulled out of investment, and that is having an impact onjobs and potential growth, a real concern. is having an impact onjobs and potential growth, a real concernlj wa nted potential growth, a real concern.” wanted to ask you about that. obviously everyone is talking about the impact, about businesses. what in real terms has the impact been on business investment in the uk? talking to cbi members, 80% have said they have pulled back on investment directly as a result of brexit, either because they are worried they won't be able to thank the people they need in order to grow, they don't have the certainty they are able to take risks, and thatis they are able to take risks, and that is a real concern, stopping businesses from creating the jobs we need. ending that uncertainty is really, really important. and european businesses, i know you speak to them on a regular basis. what are their main concerns right now? i guess similar to what uk business is saying, but on a different scale? yes, again asking for a avoidance of no deal, really

close relationship. just going back to that point about how concerned businesses are around that no deal, i had businesses are around that no deal, ihada businesses are around that no deal, i had a very large supermarket talking to me last week, telling us to avoid no deal like the plague because they are so concerned about the impact. at the other end of the spectrum, small businesses. they will not be ready for brexit. they will not be ready for brexit. they are under a lot of pressure from, say, european clients, and i had one tiny company making garage doors, 20—30 people working for {losers , 29—50 eeagle we r% but their biggest customer is them, but their biggest customer is in europe to because qqdlerned fag-413 , , 7, 91?cher 3m“ get , ,,, .-.-. 95519595152 élfifiz: 5:55. la. egé elf—we'r— products in time. for managifi ofa of a small firm like director of a small firm like that need you need politicians to compromise: need to on, you need politicians to compromise: need to - on, so you can keep you need to move on, so you can keep doing what to do. nicole sykes from the federation of british industry, thank you so much. let's take a look at some of the other stories making the news... because it's not all about brexit,

is it? the us has charged ten defendants, including two ukrainian hackers, for their roles in the 2016 breach of a key government financial database. authorities said the hackers broke into the corporate filing system, gaining confidential information on dozens of companies. they said the files were sold to traders, who used it to make more than $4 million in illegal profits. the french government is reportedly moving to dismiss renault‘s scandal—hit chairman and chief executive carlos ghosn. france, renault‘s biggest shareholder, had until now supported the compa ny‘s decision to keep mr ghosn in office. however, according to reuters and bloomberg he may be removed from his position as he awaits trial in japan for alleged financial misconduct at nissan. he denies - wrongdoing. the chief financial officer m resigned eight months afterjoining the social media firm. snap inc said tim stone's departure is not related to any disagreement on the company's accounting, strategy, financial or other practices. he'll remain in the role until a replacement is named and can take over his duties. snap shares, which have fallen more than 50% in the past year, slumped further in extended trading. some bad news for netflix fans in

the us. netflix has announced it is raising its prices in the us. the company is increasing the cost of its standard plan in the us from $10.99 to $12.99 a month. the rise marks the company's second increase in less than two years and is the most significant since it launched streaming video in 2007. well, the financial markets have been open forjust over half an hour here in londo, giving traders the first chance to react to the developments here at parliament. so let's cross over to our correspondent kim gittleson, who is on a trading floor in the city of london. it's interesting, you know, we saw that the ftse opens slightly higher and it has now turned slightly negative for the day, not a significant move given the momentous defeat theresa may suffered in

parliament last night. i am joined now by the head of european market equity research here at barclays and he will explain to us exactly what traders are thinking. doctor me a little about why we are seeing these early moves in the ftse. nothing significant really —— speak to me a little. the question on widely expected it? not a big surprise this morning on the markets. i think a no deal situation where the uk would leave the eu in march without a deal is very unlikely. in the meantime, we think that probably they would offer an extension of article 50, that that possibility is rising. but also the prospect of a second referendum on brexit are rising at this stage. no position for good news within the uk market... i don't think yesterday is good news for investors. we have spoken a lot about the volatility we have seen when it comes to the playback. what impact has that had on many british

firms? what does it mean for their future going forward? obviously a lot of companies in the uk, they are exported within. this has been an issue in terms of how easy it is to predict their profitability. in the la st predict their profitability. in the last couple of months we have seen significant weakness in the uk activity. the product sector... we have to prepare for an ordeal situation in vc investment and spending decisions put on hold. i do think this uncertainty will remain on this front, as again there are still no the unclear on the next steps for the brexit development —— ano steps for the brexit development —— a no deal situation so we see investment and spending decisions put on hold. thank you so much. we are on the floor of barclays. following what happens with market as well as the pot—mac throughout the day, so back to you, maryam. ——

as well as the pot—mac throughout the day. —— as well as the pound throughout the day. how have markets and investors been reacting? our asia business correspondent karishma vaswani is on a trading floor in singapore. it is not very different to what you heard from kim there, not much of a significant reaction across asian markets, frankly quite mixed, and in the trading, in the value of the pound, most asian markets have... what we have seen in the value of the pound, after that initial pop in the pound, after that initial pop in the aftermath of the vote, just a very stable, almost insignificant, up very stable, almost insignificant, up and down movement, in the first few hours of trade. it has kind of stayed there. i think what that reflects, in the quiet and calm seems behind me on the trading floor reflects, markets had priced this outcome in. one trader said it to me, whether or not you're looking at

100 or 200 votes is kind of irrelevant. they already knew this vote was going to go the way it did. going forward, the key things markets are looking out for our here in asia at least, where we go from here. are we closer to a disorderly brexit? which would have a negative sentiment. or are we in a situation where there may not be any brexit at all? hopefully in the next couple of days the feeling is that some of that may become clearer. karishma, thank you very much indeed. still to come... we'll be live in brussels to find out what european companies make of the brexit developments here in london. absolutely. you're with business live from bbc news. as the london markets open, what's the impact of last night's vote likely to be on your finances? nina warhurst is overlooking the city. yes, good morning. the markets open

slightly down this morning but nothing really significant. last night we saw the pound take a bit of a dip, but then it made a recovery. at the same time the cbi for example warning us no deal could be on the horizon. that would i catastrophic horizon. that would be catastrophic for the economy. those two elements don't match up. we are hearing warning from business about potential catastrophe but actually the markets seem stable? yeah, they seem stable because what was expected, theresa may losing, actually happen. what the markets don't like it would be the other thing happening, so if she had another result last night, you know, and again in the vote of no confidence tonight she is widely expected to win in the tory mps said they would back, even the ones who didn't brexit deal. sterling has been the barometerfor

didn't brexit deal. sterling has been the barometer for brexit in been the barometer folblexil'ln country, now some currency this country, now some currency traders this morning, spealfifi ft. ft, the the risk . a is the risk a is actuallye risk . a is actually a risk . a in is actuali gaauskj extended or that some other workaround situation would i found i rising, situation would be found is rising, and the longer that parliament over there can't agree on a plan to go forward. in some ways, just a false sense of forward. in some ways, just a false sense oszfcf’t; g be. e'l be. let's see what could well be. let's see what happens tonight, - the next big happens tonight, but the next big milestone will be monday when theresa may comes up with her plan, whatever that may contain. not a political expert so couldn't possibly comment, but we will see between now in the 29th of march, if thatis between now in the 29th of march, if that is indeed the deadline parliament sticks too, a lot of ups and downs, probably a lot of volatility in stirling and markets in the days ahead and we will have to make the best of it when it happens. ok, claer in some ways yesterday's vote having little impact on the markets this morning,

but the things coming up to be when we see rocky waters. studio: nina there. there you can see the markets. the pound up against the dollar and very slightly against the dollar. you can keep up—to—date with all of that on the website. hello, your‘re watching business live — our top story: theresa may faces a vote of no confidence in her government this evening after the british parliament overwhelmingly rejected her brexit deal. the financial markets have opened slightly down in response. so what's the reaction in the rest of europe been to yesterday's vote? ben butters is a policy advisor at eurochambres, which is one of the biggest business groups in the european union and represents over 20 million companies across the continent.

he joins us from brussels. ben, what you think these businesses across europe will be making of this continued uncertainty, as a result of the defeat yesterday? they are worried. the message we are getting from our network, they are extremely worried. we are surprised to hear some people in the uk are reassured that a no deal brexit is less likely after last night's heavy defeat for the only deal on the table. the perception here is that the risk of no deal has grown significantly over night, so we are telling businesses to get ready for ano telling businesses to get ready for a no deal. we have been trying to prepare them for brexit for months now, but now we are telling them they really have to get themselves prepared, ready, everything in place for a no deal brexit, because in 70 dayss' kind that is what will happen by default. ben, some people are seeing the impact and the consequences of a no deal brexit ——

70 days' times. the consequences of this are being overblown because it would be as damaging —— not be as damaging to businesses in europe as in the uk. what sort of a sensed you get among european businesses about the preparations they are making an impact they think it could have on them? i don't think it is being overhyped. i think a no deal scenario would be extremely harmful to businesses, both in the uk and across the eu 27. some of the practical implications of that include customs procedures, customs declarations, delays we are expecting in terms of air and road transport. and intellectual property — nobody knows what the rules would be precisely in terms of intellectual property protection in the future. there are many different aspects and if we have a no deal scenario it is fully open as to how those will be resolved in the future, so many different aspects of businesses, their methods and approaches to trading with the uk, which they need to review and be

prepared to adjust very dramatically after the 29th of march if there is no breakthrough between now and then. as a positive is worth reiterating that all we are talking about at the moment is just a temporary withdrawal arrangements. this is before we even get into looking at the longer term trade deal. is there a sense they are, in brussels, that that could be so far off that they can't even begin to imagine it? well, in a sense we are just talking about the withdrawal process , just talking about the withdrawal process, but of course the vote last night was on a deal which included a political declaration on future relations. the withdrawal agreement is non—negotiable now, but there is it seems scope to adjust the declaration on future relations, if that can help resolve this impasse in the uk. it will be a long process. it's very it will be a long process. it‘s very clear— it will be a long process. it's very clear— any trade negotiating between the uk and the

third party long negotiating process. some believe it will be easier because the starting point is of course very different for departing member state, but we don't doubt it will take a while. but we certainly don't believe there is any kind of trap being put in place the european commission. as some people are proposing, with the backstop. there really is a genuine commitment and willingness to develop a future economic relation that is ambitious and open and in line with other free trade agreements that the eu has struck with third parties. and, ben, as the kind of look ahead to the vote that the government is facing, this confidence vote later today, what is the outcome of that, and the possible options following from it? what is the outcome that businesses on the continent would feel most reassured by? well, we have to take the uk government, the uk politicians, at

face value. we had a referendum two and a half years ago and the decision was to leave, and until we hear anything to the contrary that is our assumption. so the best case scenario, according to those parameters, is we avoid a no deal brexit, and that we secure this deal on the table that is struck between the uk and the eu, then we are able to move on to the future negotiations. we are not in a position to start guessing whether there will be a second referendum, whether the article 50 process will be revoked. that's really not for a business organisation to comment on. 0k. business organisation to comment on. ok. but our main message is to avoid ano ok. but our main message is to avoid a no deal brexit because the harm will be massive, both to the uk at the eu business community. ok, thank you very much indeed, ben butters there in brussels. what we did is going to be! joining us now in the studio is our economics correspondent, dharshini david. dharshini, here we are. where are

we? anyone's guess, isn't it? where do we go from here? what to businesses do? what do we think about the economy? lots of people talking about sterling, but i have worked in this area and you will not be surprised that much of this is speculation, all over the place, trying to follow the latest rumours and trends. you heard there from the cbi, great uncertainty and fears about the disruption. they are all charging for compromise. on the other end of the scale, we have to look at business while all of this is happening. we know from business groups that some businesses are delaying investment, delaying hiring plans, but when you talk to some they say "everyday is costing us money." i spoke to one company in the city who said they have had to push the button on contingencies costing them millions of pounds that they wouldn't have to had there been clarity just a few weeks ago. just to show you how this is affecting all sectors of the economy, london fashion week happening in the month's time, buyers are starting to

see they don't know whether to place orders for the things they see on the catwalk because they don't know what will happen when it comes right to the delivery date. that is the way this uncertainty is impacting on the economy at the moment. of course, businesses are begging for clarity, charging for compromise, as you heard from the cbi, but what many of them are saying is "the reality is we probably will now see article 50 having to be further delayed." looking at the wider economy, where do we stand? can we whether any more uncertainty, dharshini? it is fascinating what is going on behind the scenes, behind the numbers. the top numbers say we argue oor heading for our weakers wea kest year for growth argue oor heading for our weakers weakest year for growth in the uk argue oor heading for our weakers weakest yearfor growth in the uk in the post—crisis area eight era. also this hesitance on hiring and investment. —— in this post—crisis era. some manufacturers are also starting to stock up, stockpiling components and finished goods so they don't see disruption to supply chains at the end of march when we

leave the eu. but great uncertainty and that of course is weighing on our economy at a time when demand for the rest of the globe also appears to be slowing down. ok, dharshini david, always good to get your analysis. thank you very much indeed. plenty still to look forward to here at westminster throughout the day. there will be more business news throughout the day on the bbc live webpage and on world business report. we'll be covering throughout the day on the bbc news channel as well. that is it for me. studio: ben, you should put a coat on, you look freezing down there, wind tunnel where you are! stay with bbc news for plenty on the ongoing brexit problems and issues. bye—bye for now. hello there.

good morning. relatively mild over the last few days and temperatures here, as you can see. tomorrow temperatures will drop away, turning much colder through thursday. the transition from the mild to the cold happens today with this cold front, moving south and east. some outbreaks of rain with it. him that there will be some sunny spells, some showers, turning increasingly wintry over higher ground, across scotland, is era 5”: pushing cold era begins. that rain pushing into the of england, into the south—east of england, could be a few brighter skies before that removes them, certainly brighter in the north and west. quite blustery as well, that wind coming in from the west, then eventually coming into northern parts. temperatures will drop to about 3—6 across many areas, but

still holding on in the south—east, bya still holding on in the south—east, by a whisker, those milder conditions. then that rain will clear and all of us will. under clear and all of us willbe_under of the colder air from the north, bringing some ecu: case see scree, ee'ee'ee ”a, to l‘g levels 7 w’ ”w’ ” fl " 7,7, ecu: case see scree, ee'ee'ee ”a, to l‘g levels in w’ ”w’ ” fl " 7,7, ecu: case see scree, ee'ee'ee ”a, to l‘” levels in northern ~ if if ”7, ecu: case see scree, ee'ee'ee ”a, to l‘” levels in northern and if if ”7, snow to low levels in northern and eastern scotland, the risk of some ice tonight across scotland and northern england, where there will bea northern england, where there will be a frost. temperatures below freezing. further south, be a frost. temperatures below freezing. furthersouth, not quite as cold. probably more cloud hanging on, keeping temperatures 2—4dc. during thursday, all of us under the influence of; northerly during thursday, all of us under the influence of g northerly wind, influence of this northerly wind, and if you % where it it all way it a l way back 7 it a big way back 7 it a big difference 7 it a big difference in 7 will ‘for thursday. will‘for time thursday. in the east midlands, a morning, in the east midlands, a dusting that will move to the south—east. . most of us on south—east. for most of us on thursday, a; south—east. for most of us on thursday, 5 will i a dry - lots thursday, it will be a dry day. lots of sunshine, but colder. of sunshio= at those $1532? 77” of sunshio= at those $5255“; about look at those temperatures, about 3-6

look at those temperatures, about 3—6 celsius. a frosty start into friday morning but then we will start to see this weather system moving in from the west. as this cloud, this rain, starts to push into the uk, the colder air, we can see a mixture of some rain, sleet and snow across scotland, through scotland, wales, parts of the pennines as well. some uncertainty as the eastward progression of the rain, but eastern areas are mostly dry with some sunshine, and further west is quite cloudy. that complicated mixture of rain, sleet and snow. bye—bye.