this is the business briefing. i'm victoria fritz. collateral damage. huawei warns a us ban will affect ‘tens of thousands ofjobs' at its american suppliers — as walmart says the trade war will push up prices in its stores. plus — internet space race. from musk — to bezos — to branson. the billionaires planning to offer global broadband access from orbit. and on the markets, very much a mixed picture in asia. chinese shares feeling the pain from that escalation in the trade war. and combative words in the chinese media stoking those tensions further. us shares though ending higher thanks to strong earnings from walmart

let's start with the trade war because chinese telecoms giant huawei has hit back at moves to ban it from doing business with us firms. it has said the move will affect ‘tens of thousands' ofjobs at its us suppliers — and do ‘significant economic harm‘ to us companies. those concerns have sent shares of us chipmakers down sharply. rico hizon is following this for us in singapore. takeit take it away. what have we been hearing from huawei? there us suppliers have been hit hard, victoria, due to america‘s bid to block while away from purchasing vital us technology. this is thrown

into question prospects for sales at some of the largest technology companies. you have chipmaker qualcomm which earns around 5% of its revenue from huawei. its share price dropped 4% overnight and shares in another supplier fell more than 2% in new york. there are serious concerns that the chinese firm would be forced to stop buying american ships, software and other components after the trump administration banded from buying us technology without special approval. the japanese also weighed in with their financial minister saying that their financial minister saying that the ban could impactjapanese companies and weigh on economic growth. he also stressed that there are japanese companies that supply parts to huawei and supply chains are intertwined in many complex ways. and when you speak to technology analyst they have started

to downgrade their assessments for several us microchip companies as a result of this band that took effect immediately. —— result of this and. in the last couple of hours — tech tycoon elon musk has again been forced to delay the launch of 60 satellites aimed at delivering internet access from orbit. mr musk is hoping the venture will help fund his costly plans for future space exploration. but he‘s not alone in seeing the potential — in fact it‘s turning into something of an ‘internet space race‘. let‘s show you some of the details. nearly 4 billion people around the world haven‘t been online once in the past three months, according to the un. almost half the global population lack proper internet connectivity. spacex‘s starlink project wants to cash on this — by beaming cheap broadband internet from orbit

all over the planet. by 2027, it plans to have launched a ‘megaconstellation‘ of 12,000 starlink satellites, orbiting the earth more than 300 miles up. but there are already some big competitors. not least the world‘s richest man. amazon bossjeff bezos has announced project kuiper — a rival system of more than 3,000 satellites. and 0neweb — backed by virgin boss richard branson, airbus and japanese tech giant softbank — is already off the ground. it launched the first 6 of a planned 650 satellites in february. so the market is getting crowded. but so is the low earth orbit where the satellites will operate. colliding with space debris is becoming a real threat — as our science reporter rebecca morelle explained earlier this year.

space is becoming increasingly cluttered. it is estimated there are now nearly 8,000 tons of debris, with 800,000 pieces the size of a marble or bigger, and each piece has the potential to do some serious damage. in 2016, this crack in the window of the international space station was thought to have been caused when a tiny fleck of paint hit it. that was rebecca there. mark mahaney is an internet analyst at rbc capital markets. this issue of debris and space, it is not without logistical challenges, is it? there are many challenges, is it? there are many challenges involved but there are also many demands. if three or 4 billion people are uncovered by the internet then there are 3 billion who are and what these tech titans are seeing is a dramatic profit pool created by companies delivering services to them. if you have a world in which google, amazon,

facebook and microsoft can create value well in excess of $2 trillion, yeah, there is probably an opportunity there. so they may be an opportunity there. so they may be an opportunity but there may also be demand. suppliers difficult. it is costly. how commercially viable is this idea? we have no idea. we are yet to see someone, we get to see a nice cash flow statement, balance sheet. the good thing is that if you are, if you happen to be a public shareholder in a name like glamazon, don‘t worry. this is not your money going to space, it is that ofjeff himself or that of his friends. if these titans want to spend that kind of money to try and link up the other 3 billion people not online, i think that is a great thing. whether you can turn a profit doing that, i think that is sceptical but that is 0k. do it on your own time... or your own billions. i suppose there

area your own billions. i suppose there are a waste addictions for billionaires than an unhealthy obsession with space. about 5g? won‘t that take a ride out of this? it‘ll pose a threat to the idea of getting internet access for everyone from space. you will see a buy furcation of internet access. some markets will get faster and faster speeds. we have gone through a massive shift over the last 20 years from narrowband to broadband all the way up to 5g. it is wonderful for applications and products they get sold consumed and produced over line —— over the internet. parts of the world that can get 5g, they don‘t need satellites. but some areas don‘t even have one g. this is a service that will hopefully provide internet access for those people.

service that will hopefully provide internet access for those peoplem is building billed as that, a big humanitarian effort to connect people and bring them a world that eve ryo ne people and bring them a world that everyone else has had for some time. is that really what is going on here? i think... my is that really what is going on here? ithink... my guess is is that really what is going on here? i think... my guess is that there is a fascination with space and technology. tries of the next big problem... ithink and technology. tries of the next big problem... i think it is a great goal if you can hook up the rest of the world to the internet. this has been a fundamental advancement in humanity... some people would argue not. why not? if you think about major innovations of the last 20 yea rs, major innovations of the last 20 years, the personal computer, internet access, smart phones. may be cloud computing three or four major platform shift. a large chunk of the population of this world does not have access to any of the. why not have access to any of the. why not help them? whether you can make ace business model, i am sceptical that, again, not our money it is there‘s. that, again, not our money it is there's. and long may it continue.

let‘s stay in the us — where the world‘s biggest retailer walmart is warning that the trade war with china will mean higher prices for its customers. last week the trump administration raised import tariffs on $200 billion worth of chinese goods from 10% to 25%. and it started the process of taxing almost everything else china sells to the us — another $300 billion worth of goods a year. michelle fleury in new york explains. there has been a lot of speculation about who pays which tariffs. the importer to they pass it on? now we hear from importer to they pass it on? now we hearfrom some of importer to they pass it on? now we hear from some of the big retailers to dig on wednesday we had from macy‘s, the department store basically said that tariffs would end up having a effect on higher prices for consumers. that is a message that has been echoed by walmart, the company that basically came out with profit figures today

and warned that there were a range of products they expected to increase in price after donald trump increased tariffs of $200 million worth of chinese imports to 25% from 10%. for what was interesting is when you dig through how walmart makes its money, about half of it comes from groceries and those aren‘t actually affected by the tariffs. fresh produce tends to come from markets closer to home. half of the goods will end up or a chunk of it will end up costing more and that means american consumers will end up paying the price. now let‘s brief you on some other business stories. boeing has completed development of a software update for its 737 max plane — which was grounded following two fatal crashes within five months. the us planemaker says it has flown the 737 max with the updated software on 207 flights. the federal aviation administration expects boeing to submit the upgrade for certification next week. rescue talks between the uk

government and british steel will resume later. the firm admitted on tuesday it needed further government cash to address "brexit—related issues" — after seeking a 100 million pound loan in april. british steel is the uk‘s second largest steel firm, employing 11,500 people and about 20,000? indirectly via its supply chain. amazon is refusing to comment on reports its planning a huge investment in food delivery app deliveroo. sky news says the tech giant could announce a deal worth several hundred million dollars in the coming days. deliveroo operates in over 100 towns and cities across theuk, working with more than 8000 restaurants. and now — what‘s trending in the business news this morning. sony shares jumped on sony sharesjumped on friday sony shares jumped on friday after the company announced a 1.8 yen dollar share by back. by do said

that a slowdown would threaten its share price. from the financial times: pinterest shares tumble as 2019 outlook comes undone. the social media app saw its stock market value fall as much as 19% after its first earnings report since its stock market listing. a p pa re ntly apparently ate from ten women have a account with this company. a survey of lgbt staff suggests two thirds don‘t report being sexually harassed at work, because they‘re scared of being ‘outed‘. the research by the tuc also shows 70% of the people they spoke

to had experienced inappropriate behaviour from colleagues. 0ur lgbt correspondent ben hunte has this report featuring one man who wants to remain anonymous. patrick works in the public sector where he went through years of sexual harassment just where he went through years of sexual harassmentjust because he is 93v- sexual harassmentjust because he is gay. i was stomped from attending an away day with colleagues. i was told that it was because the mail staff we re that it was because the mail staff were too afraid to share a shower. the teasing, discrimination and abuse that happened at the start of his career still impact him years later. i suffer from anxiety. i get very anxious. and it isjust horrible. it is horrendous. and patrick is not alone. according to new research by the trades union congress, 68% of lgbt people say they have been sexually harassed at work. 42% of those surveyed said collea g u es work. 42% of those surveyed said colleagues had made unwelcome comments or asked unwelcome

questions about their sex life. 7% had received on welcome sexual advances and two—thirds did not tell their employers. we need employers to step up to the mark and to take ona to step up to the mark and to take on a duty. we think it should be a legal duty to prevent sexual harassment happening in the first place. there is lots they can do in terms of policy, working with unions and educating people. terms of policy, working with unions and educating peoplelj terms of policy, working with unions and educating people. i spoke to several lgbt and educating people. i spoke to several lg bt people and educating people. i spoke to several lgbt people who say they are not surprised by the findings in this report. in the uk we have laws that protect people from discrimination based on their sexuality but when it comes to applying those two workplaces, more clearly needs to be done. >> it had a massive impact. many more lgbt >> it had a massive impact. many more lg bt people >> it had a massive impact. many more lgbt people are still struggling in silence.

this is the briefing from bbc news. the latest headlines: as europe prepares to head to the polls, we‘ve been in france looking at the growing strength of populist movements. taiwan‘s parliament is debating legislation that could see it become the first place in asia to allow same—sex marriage. huawei warns a us ban will affect tens of thousands ofjobs at its american suppliers, as walmart says the trade war will push up prices in its stores. now it‘s time to look at the stories that are making the headlines in the media across the world. we begin with the daily mirror, and a story that‘s dominating most of the front pages today — theresa may has agreed to discuss a timetable for her replacement after the next vote on her brexit plan, which means she could be gone byjune. which leads us on to the times, and borisjohnson, who has been