you're watching bbc news at 9:00am with me annita mcveigh. the headlines: theresa may is facing the threat of a revolt by remain—supporting ministers with calls for her to take a no—deal brexit off the table this is business live from bbc and extend negotiations. news with sally bundock and maryam moshiri. jeremy corbyn says labour will now in trouble over a tweet. support a second brexit referendum if its alternative eu tesla boss elon musk faces exit plan fails. allegations of contempt of court. live from london, that's our top story on tuesday 26th of february. one of the pope's advisers, cardinal george pell, has become the most senior catholic figure to be convicted of sexual offences. india says it's conducted air—raids inside pakistani territory — in a major escalation of tension between the two nuclear—armed neighbours. sleep lessons in the classroom. we'll meet the teenagers being taught about the benefits of cutting back on screen time is elon musk playing fire again? and getting a good night's sleep. mr musk is in hot water after he tweeted projected production figures for the electric car company. now he's accused of violating a settlement with us authorities. also in the programme ...how close is close? president trump says the us

and china are on the brink of a deal to end their trade war. for financial markets today, the glass currently half empty, the ftse down half of 1%. putting the profits in popcorn: we'll meet the man who turned a cinema snack — into a foodie delight. a new report says the first three years for children are critical — and yet many babies are let down by the state and not ready for school. what is happening where you are? whose responsibilty is it to get the next generation ready to learn? let us know — just use the hashtag bbcbizlive hello and welcome to business live. we start with the news elon musk is in trouble again for another tweet. the us securities and exchange commission has asked a judge to find the tesla chief executive

in contempt of court, for allegedly tweeting market sensitive information — in violation of a settlement with authorities. the tweet in question was published on twitter seven days ago, when musk said ‘that tesla would produce 500,000 cars this year'. however only four hours later, musk corrected himself and tweeted ‘that he had meant to say was tesla would hit a weekly production rate equal to an annualised 500,000 by the end of 2019'. and news of the sec request didn't impress investors — tesla shares fell 5% in after hours trading. however in an interview with cbs last december, it's clear mr musk doesn't have much time for the sec. have you had any of your tweets censored since the settlement? no.

none? does someone have to read them before they go out. no. your tweets are not supervised ? before they go out. no. your tweets are not supervised? the only tweets that would have to be seen or reviewed is if a tweet had a probability of causing movement in stock. and that's it? otherwise it's against the first amendment. freedom of speech is fundamental. how do they know if it's going to move the market if they are not reading all of them before you send them?” guess we might make some mistakes. who knows? are you serious? nobody is perfect. look at you. i want to be clear. i do not respect the sec, i do not respect them. but you are abiding by the settlement, aren't you? because i respect the justice system. let's hearfrom our north american technology reporter dave lee on whether musk may have gone too far this time.

you remember the deal last year when he posted a joke about potentially taking tesla private, taking it off the stock market, he said it was a joke but it move the markets and made tesla stock go up and because of that he was punished by the sec, the securities and exchange commission because they said that was against their rules for a public company. as part of the punishment he had to pay $20 million and stepped down as chairman of tesla and the third thing he had to do was from then on, get prior approval every time he wanted to tweet something about the company that could have an effect on their stock price. now the sec says on february i9just after price. now the sec says on february 19 just after seven o'clock in the evening new york time he tweeted that tesla will make around 500,000 ca i’s that tesla will make around 500,000 cars in 2019. the company has admitted the sec say, has admitted that elon musk did not get approval before he sent that tweet. and now,

that's why the sec thinks he has broken this court order, this agreement to no longer show that kind of information without getting approvalfrom the kind of information without getting approval from the financial bosses at tesla. 0nce approval from the financial bosses at tesla. once again, elon musk has found himself tweeting his way into a lot of trouble. that is dave lee and you can follow him on twitter and lots more on that story online. let's take a look at some of the other stories making the news . the biggest shareholder in eurostar has sought to allay fears that brexit might hit — or even halt — the cross—channel train service. sncf railway company told french media that it was working to ensure smooth travel "whatever the scenario". the company said details still needed to be worked out, but the service's fundamentals would not be affected. former us federal reserve chair janet yellen has said she does not think us president donald trump understands economic policy. in an interview with marketplace, she stated that mr trump has shown "a lack of understanding of the impact of the fed on the economy, and appropriate policy goals." oil prices have tumbled,

with brent crude dipping to $65 a barrel, after us president donald trump tweeted that prices are too high and called on 0pec to relax and take it easy. it comes on the eve of international petroleum week, which begins in london on tuesday. there is renewed hope that the us and china are close to ending their trade dispute. promises, promises coming from president trump yet again. president trump tweeted last night that the two countries were "very, very close to reaching a deal". monica miller is our asia business correspondent in singapore... some hope that there is light at the end of the trade war tunnel. yes, except some analysts say investors appealing fatigue about whether they are going to see a deal come through. shares retreated after reaching a five month high yesterday and that was after president trump

pushed back on the deadline to raise tariffs on chinese goods and to allow more time for negotiations. but now it appears that there is some scepticism i should say that a setting how much exactly in terms of compromise that could be reached in the period. today jpmorgan compromise that could be reached in the period. todayjpmorgan analyst urged investors to curb their enthusiasm over the trade talks saying the extension to the deadline was a foregone conclusion. at this point the announcement was the clearest sign yet that both sides are closing in on some sort of deal to end months of the trade war that has slow down global growth and disrupted markets. moniker, thank you. that's clearly a story that will move markets, as and when we get confirmation of a deal between the us and china. for now in asia, it was about profit—taking, we saw big gains in asia on the news that president trump had postponed that much first deadline he where he said

he would put up tariffs on goods coming from china into the united states. that was a huge relief on monday, we saw a rally, today people taking money off the table. that's the night before on the dow. but look at europe. the standout loose with the ftse 100 look at europe. the standout loose with the ftse100 and the reason, we have a rally for the pound sterling and that's on hopes that theresa may could delay brexit. we will talk more about that in a moment but let's remind ourselves 70% of the ftse100, the let's remind ourselves 70% of the ftse 100, the firms, incomes, comes from abroad. a strong pound puts pressure on those companies and that's why we are seeing weakness in london today. what's ahead? another significant date. and samira has the details of what's ahead on wall street today. 0n on tuesday the chair of the federal reserve or make his way to capitol hill. jerome powell will answer questions from lawmakers on the

state of the us economy. this will isa state of the us economy. this will is a semiannual address and he will testify to senators on tuesday and will repeat the process on wednesday when he speaks to members of the house of representatives. also happening on tuesday, the ceos of seven international pharmaceutical companies will be on capitol hill testifying about the cost of prescription drugs in america. witnesses include the ceos of pfizer, astrazeneca, bristol myer, johnson &johnson. pfizer, astrazeneca, bristol myer, johnson & johnson. the pfizer, astrazeneca, bristol myer, johnson &johnson. the high cost of drugs is an issue that us president donald trump has said he wants to address. joining us now is mike amey, portfolio manager at pimco. good to talk to you. let's address the pound sterling festival, sally said the pound has basically had a huge impact on the ftse, down nearly 196, huge impact on the ftse, down nearly 1%, a stronger pound not liked by the market but a pound that tells us what the markets are thinking what's

going to happen with brexit. yes. the pound is one of the key bellwethers for political uncertainty in the uk. exit is the key source of political uncertainty. and file we see daily headlines on what the labour position is on brexit, what theresa may is dry to push through, the thing the markets are focused on is the risk of a disruptive brexit, a wto type of outcome on much the 29th, that's what the markets are nervous about because that's the most uncertain place you could put the economy. that probability looks like it's going down, as that probably goes down it means stirling can go up because there is less political uncertainty and ironically, for those of us with pensions, that means actually the ftse goes down in the short—term. it's a slightly odd relationship but ultimately it's quite good news the economy. today could be interesting because we have a cabinet meeting today ahead of

theresa may addressing parliament to tell parliament how the process is going, giving them an update, as it were. there's rumours she could say there will be a delay. that's right. speculation that the cabinet meeting that she will finally open up to the prospect of potentially delaying if we cannot get an agreement by march the 29th. and then put back and open it up to parliament tomorrow. so that's one of the things that the pound sterling is sensitive to. that's not without risk from the prime ministers perspective, she has this difficult balancing act between the sides of her party. we may get more political noise but i think ultimately, the lower the chance of a disruptive brexit the bettor that is with a pound and obviously better for us, at least for foreign holidays if not for savings in the short—term. holidays if not for savings in the short-term. mike, you will be back with us to talk through the papers but for thank you. still to come. it's not just about

the sweet stuff... we'll find out how popcorn went from a treat at the movies — to a foodie favourite. but we do not have any here in the studio which is very disappointing! you're with business live from bbc news. we got it all in the programme today, popcorn, brexit, and now britain's second largest house builder persimmon released its full year results this morning. the company reported profits of more than a billion pounds in 2018. but persimmon has come under pressure after news that the government is reviewing the compa ny‘s participation in the help to buy scheme. let's cross to theo leggett. talk us through the results, a billion sounds great but these are difficult times. yes, a lot of money, more than £1 billion worth of profit, up 13% on the previous year but the problem is kind that

persimmon is almost doing too well. why do i say that? for the past few years like other house—builders it's been benefiting from the government 's been benefiting from the government '5 help to buy scheme, a system that subsidises first—time buyers and makes it easier for them to get on the housing market but reports suggested encourages house—builders to put up prices and basically puts money in their pocket and the pockets of their shareholders. when you get problems such as the chief executive having a bumper pay packet of £75 million it doesn't go down too well and that's exactly what happened to jeff fairburn, too well and that's exactly what happened tojeff fairburn, the previous persimmon chief executive la st previous persimmon chief executive last year. his pay packet became a key talking point, he ended up having to leave the company, he has fiow having to leave the company, he has now been replaced. there are other problems, for example james brooke shire saying at the weekend he is not entirely happy with many of persimmon 's not entirely happy with many of persimmon '5 business practices and suggesting the company could be excluded from the help to buy scheme. that would make it quite vulnerable and that's why its share

price fell sharply yesterday. all told, very good performance but because of the outside pressures, there are worries ahead for the company. theo, thank you. so for the new chief executive, the interim chief executive david jenkinson, they have announced he will take on they have announced he will take on the role permanently, his predecessor had a pay package of £75 million. well, that's a lot of money, quite a lot of pocket money. 0n the website, plenty more news including this. i wanted to show you this, not only because it's a beautiful picture of a blue sky but it's about scottishpower announcing an investment of £2 billion in clean energy in the uk. that, and plenty more business news on the website. your‘re watching business live —

our top story — the tesla boss elon musk is in hot water over a tweet about projected production figures. he's accused of violating a settlement with us authorities — and could face contempt of court proceedings. a quick look at how the markets are faring . today it's all about the ftse100 which is down, it has recovered a little, it was down over 1% after the opening of trade, just after 8am and you can see down by 0.9%. now, let's get the inside track on making a foodie fortune. there was a time when popcorn was something you only really saw in the cinema — not any more. robert jakobi founded metcalfe's skinny popcorn and turned it into one of the fastest growing health food snacks in the uk. he sold up and that brand is now owned by us food giant campbells. he's been telling our business editor simonjack how he capitalised on a popcorn revolution.

we we re we were in the right place at the right time, we launched the brand in 2010 and we rode the wave of the healthy snack craze. when we launched popcorn did not exist in the supermarket. so we came into the market and launched a healthy alternative to crisps. and i guess the rest is history but we build the brand very quickly and had a lot of success brand very quickly and had a lot of success with it. how did you do that because there will be lots of people who have an idea of how to make a foodie fortune, fla pjacks who have an idea of how to make a foodie fortune, flapjacks or whatever and get them into tesco but it's not that easy. it's very difficult. a lot of hard work, you need to have a product range which is in it for, the packaging needs to be different and stand out on the shelf, and you need to have a great team behind you to six del mac successfully executed. we had the timing perfectly right. what is the secret? you need distribution? if i

think of uk examples like your brand and innocent smoothies, they eventually say, to go to the next level for distribution you need one of the big guys, is that how it works? i think you need luck and you need to have one of the big retailers whether its whole foods in the us or waitrose or sainsbury's, get behind your brand and that will hopefully open up other doors. but they also require a lot of persistence because a lot of these buyers, they do not accept it first time around when you go and present. i think it's a combination of things, it's notjust kind of, i will get in the door and that is it. you have got to prove yourself. it's a bigger market but hang on, people say, if it is a big mark at the eu is 500 million people compared to 300, why isn't that the best place to start? very interesting. the us in terms of food innovation is several years ahead of the uk and the uk several years ahead of

europe. we launched the popcorn business in spain and france and saw very little attraction because it was seen as a cinema very little attraction because it was seen as a cinema snack. so most of europe is behind the uk in terms of europe is behind the uk in terms of innovation. so it's notjust based on there's a certain number of people living in europe, a certain number living people living in europe, a certain numberliving in the people living in europe, a certain number living in the us, it's the same sized market, go to the eu versus the us. actually the eu may be one big market but actually in terms of food, it's very regionalised and people have very different tastes and move at different tastes and move at different speeds. and move behind the us and uk in terms of innovation especially in healthy snacks. many people say there is so much private equity capital sloshing around in the us that there is a bubble, we have seen it in technology, arguably. if the same thing happening in food and does that mean for people like you, the big guys are paying silly money to acquire smaller companies? a lot of people

say there a bubble, these valuations cannot be sustained long—term. i think there's arguments for and against. for me, we are building for tomorrow and you do not care if there is a bubble. ultimately, no, because we want to make a difference in lives. entrepreneurs always say that. of course. we need the bubble to continue. any young entrepreneur would say that but to forecast what is going to happen, i think it's very ha rd is going to happen, i think it's very hard to do that. if you had one piece of advice for someone who has a great flapjack recipe at home and wa nts to a great flapjack recipe at home and wants to sell that in every supermarket in the land, what would it be? if you have a great idea, go for it, i did that, i've been lucky and fortunate enough to have had success and fortunate enough to have had success down the road but i realise and you must realise there are lots of things that go into building a successful brand and make sure you think everything through. i would also say be passionate as well, if you love it, you love your idea and really feel you can make a difference, go for it. there you go,

some top tips from robert who founded metcalfe skinny popcorn. passion is of his good if you have something you want to do. so important. very successful entrepreneurs giving us very similar advice. mike is back with us. we are here to talk about stories in the paper and here to talk about stories in the paperand in here to talk about stories in the paper and in particular you've chosen a couple of very interesting ones and one that we as viewers about, a report in the uk, on the bbc website, showing that children in the uk are failed in the first 1000 days. a report from mps showing children in the uk are not given sufficient equipment or tools via the state to begin school at the age of five. this is the first three yea rs. before we of five. this is the first three years. before we read out tweets, what do you make of that? is it the state responsibility or the parents to get kids school ready?” state responsibility or the parents to get kids school ready? i think there has to be a safety net,

doesn't there? there will be children who are born into unfortunate circumstances. so obviously, it's important they are not disadvantaged any more than they have been in a tough start. sol think it's important actually for the government to have that safety net and looking by the report it seems unfortunate, as we all know, we had been through the neck end of ten years worth of austerity. and these are the kind of things, you know, flagging up these kind of issuesis know, flagging up these kind of issues is very important. of course, future growth, the country 's well— being future growth, the country 's well—being is future growth, the country 's well— being is in future growth, the country 's well—being is in the hands of these babies. so much scientific evidence to show the first three years of the child is extremely important and with austerity in the uk and i would imagine in many economies around the world that have gone through a similar experience, it's easy to cut back on those health centres and visits from health visitors and all those kind of things that help young

families, young parents, as they try and navigate it. it's not easy, we've all been there. it's a really difficult thing to do. that's right, yes, it is. if you are struggling you need some kind of safety net and it is, as you say, those are the kind of things that lose out during periods ... but kind of things that lose out during periods but also for those families who can afford it they can afford to put the child into nurseries or childcare that in theory get children to school ready, whatever that means. whereas those families who have not got the funds, they will not do that. i think it's about momentum, you start off with good momentum then you can build on that as you go through your school education. let's bring in some tweets, i've been looking at those and we've had a lot of response to this. caitlin says there are more important things to do with young children and make them school ready, my skin grows thinking about that phrase. i don't think it's about being ready for school, it's about

life skills like being able to go to the toilet, recognise how to eat properly, things like that, basic life skills. kerry says it's the pa rents life skills. kerry says it's the parents responsibility to develop their child's ability during former yea rs, let their child's ability during former years, let me time and get of the mobile phone, play, play, play. michael says maybe the government to teach children about the responsibility of having a child and the costs involved in that, all very well blaming support services but pa rents well blaming support services but parents should be responsible as well. thank you for all your comments, really interesting discussion. let's look at some of the other stories out there. rory art technology correspondent is at the mobile world congress in barcelona, one of the big conversations is 56, stories in the media about european union wide response to this new tech. that's right. we have seen in the uk a lot

of discussion about whether the government should allow the chinese company to permit the 56 infrastructure because there are concerns over cyber security. the us taking a different tack and the european union is one of the very large economic blocs, has a role to play and a decision to make and it looks like the decision they are making is to restrict it actually, which is an interesting one because then you have two of the worlds largest economic areas both restricting, that's quite a strong statement about whether this technology is to be used or not. statement about whether this technology is to be used or notm europe they haven't been worried about that in the past, gdp are introduced last year, also other europe—wide decisions made on things like mobile roaming charges, that kind of thing, this is where europe stands out. i think europe is trying to come up with things like that data protection you mentioned, trying to take the lead and does not wa nt trying to take the lead and does not want to be left behind on this. i

think this is about unity in the european union as well, do not forget. the eu commissioner trying to make a statement, we had the european parliament coming up, if they want to make a decision they need to make it now otherwise they go through the european parliament, they will not make a decision for another 6—12 months. they will not make a decision for another 6-12 months. pressure from the us always there. looks like there is, we know there is pressure there is, we know there is pressure there from the us as well. but it is a strong statement, the us will be very happy if the european union has a similar stance to the us because that will put a lot more pressure on the chinese. just before you go, mike, a quick word on the trade deal being very close, a statement coming from washington from presidentjohn, how helpful are you? a fascinating contrast, on the one hand you have china and that kind of thing, on the other we may be getting some help. good news, good news. not bad news, anyway, which is something. good

news, not bad news, that is always what we want to hear! mike, thank you. thanks so much for your company. have a good day. see you soon. good morning. the temperature first thing this morning may have reminded you that it is still winter. but like yesterday, where temperatures got to 20.6 degrees in west wales it's going to be another very warm day across the uk. temperatures could well once again reach 19 perhaps 20 degrees. high pressure firmly in charge of the weather at the moment, the wind coming from the south, a week in the far north—west of scotla nd south, a week in the far north—west of scotland bringing us more in the way of cloud some hazy sunshine in north—western scotland. some hazy sunshine in north—western scotland. cement and folk patches around southern and central areas of england, into the north—east, but those were clear and as you can see for most parts of the uk it will be

a sunny day, temperatures very similarto a sunny day, temperatures very similar to yesterday, widely1li—18d, 19 possibly 20 degrees in the london area and across west wales. through tonight, some cloud across the park north of scotland, we see more cloud moving into the far where of northern ireland. with these clear skies temperatures falling fairly close to freezing across northern parts, generally between 1—lid. some mist and fog patches on wednesday morning, especially across south wales and southern england, that we re wales and southern england, that were clear and again lots of sunshine, more cloud perhaps around irish seacoast into the north—west of scotland. temperatures are run 13-17d, of scotland. temperatures are run 13—17d, not quite as high as today, not likely to reach 19—20d. as we go through the rest of the week we open up through the rest of the week we open up the door to the atlantic, the wind switching to a westerly direction, you can see these weather fronts moving on, during thursday much more cloud across the uk, some

rain moving through northern ireland, the isle of man, wales and the midlands and the south of england. further north and east remaining dry, some bright spells, temperatures have ta ken remaining dry, some bright spells, temperatures have taken a dip, 10-12d. that is temperatures have taken a dip, 10—12d. that is still above the average for this time of year. as we continue into the weekend, the jet strea m continue into the weekend, the jet stream driving the weather, you can see it's more of a westerly position right across the weekend. that will bring some cloud and rain at times as we go through into the weekend. those temperatures remaining around 10-12 those temperatures remaining around 10—12 possibly 13 degrees. 0ne possibly two more days of warmth before it turns more back to normal.