this is business live from bbc news with tadhg enright and ben bland. how to get europe's economy growing? there's a huge job in store for the next boss of europe's central bank as the candidates get in position in the race for the top job. live from london, that's our top story on tuesday 28 may europe is divided over what economic recipes are required to steer the continent back to robust growth — so who will emerge as the winner in the race to run europe's central bank? and president trump may have concluded his state visit to tokyo, but concerns remain over a future trade deal between the us

andjapan. and this is how european markets are performing so far today. most of them, half of them there in positive territory. we'll have analysis later on what is making investors move. and we'll be getting the inside track on eating at home . yes, ‘in‘ is the new ‘out‘ when it comes to dining, according to a new report. this year more people will be cooking at home, as food prices surge and people feel less intimidated by the idea of home cooking. and... would you pay $75 for a cup of coffee? that's the price for the best beans in a san francisco cafe. what's your most expensive foodie indulgence? is it fine wine or rich chocolate, or expensive bread? let us know — just use the hashtag bbcbizlive

hello and welcome to business live. a major round ofjobs horse—trading gets under way today at a brussels summit of eu leaders, now the elections for the european parliament are behind them. they'll be considering who should run its top institutions, including, crucially for the markets, the european central bank. the current ecb president italian mario draghi — who famously pledged in 2012 to do "whatever it takes" to save the euro — must leave his post in october when his eight—year term ends. eurozone leaders are likely to converge on a consensus candidate to replace him as part of a package of eu jobs, balancing nationality, political affiliation and gender. among those with a realistic chance of succeeding him are bank of france governor francois villeroy de galhau, finnish central—bank governor olli rehn, the head of the international monetary fund, christine lagarde and bundesbank presidentjens wiedmann.

mr draghi's successor will have a bulging intray. the ecb's key interest rate is currently zero, leaving it little ammunition in the event of a downturn or crisis. i'm nowjoined byjanet mui, an economist, cazenove capital who do you think the markets would favourite to replace the current president. the markets will favour anyone who is in the german bundesbank president, possibly the markets would favour the president of the government of the finnish central bank, he is currently a favourite and the bank of france as well. what are the key priorities do you think, that the next governor needs to focus on? i think currently the european growth is a challenge so the european growth is a challenge so first of all, the governor will

need to sort out the growth and recovery in the area and of course inflation because currently inflation because currently inflation in the euro area is a concern, core inflation is roughly 196 concern, core inflation is roughly i% which is about half the target so i think the governor will need to bring inflation back to the target as well as growth and obviously, the discussion on whether this negative interest rate policy can continue because it's heavily weighing on banks profitability, that will need to be sorted as well but as i say, i think the central bank will be very unlikely to be a hawkish one, mostly because of the economic situation, it'll have to be a continuation of easing monetary policy. the various with interest rates at zero, if there were an economic shock or a or crisis, the bank at the moment has not much room for manoeuvre. yes, i think that is what the market is currently worrying about and that is why european markets have not been doing great because they think the ecb is losing out. so far in terms

of interest rates, they can still for example improve the credit availability for example they are still looking at what sort of terms they can gauge in terms of refinancing, more incentive to lend to the banks, that could be helpful but as you say i totally agree the ecb is running out of options. as he approaches the end of his eight year term do you think investors markets are going to miss mario draghi.” are going to miss mario draghii think the economy has witnessed some sort of recovery in 2017 particularly, but it has fallen short of expectations in 2018 but that's down to the global trade tensions. he's done a pretty good

job, the markets will miss him but definitely look forward to the next central banker. very diplomatic answer, thank you very much. let's take a look at some of the other stories making the news france must protect its own interests and jobs in any merger between renault and fiat — according to the french finance minister. bruno le maire said any merger would also have to focus on developing electric batteries. if the deal went ahead, france's stake in renault would go down to 7.5% from 15% at present. alibaba is reportedly weighing the option of raising $20 billion through a second listing in hong kong. according to bloomberg, the chinese e—commerce company is working with financial advisers on the planned offering for as early as the second half of this year. a spokesman for the company declined to comment. alibaba held its record $25 billion public float in new york in 2014. fallout from brexit has helped new york overtake london to become the world's pre—eminent financial centre according to a survey published today.

top executives were asked to think where the most important fiancial hub is located and more than half said the big apple. president trump has wrapped up his visit to japan, which was full of pomp and pagentry — but revealed little about tensions over trade between the two nations. donald trump has signalled there will be no move on trade until after an upper house election in july, which some japanese officials have criticised. live to mariko 0i who is in tokyo for us what helps therefore for a trade deal? as you say he just left japan after a very busy visit from becoming the first foreign leader to meet the new japanese becoming the first foreign leader to meet the newjapanese emperor to attending a sumo tournament, playing golf with the japanese prime minister but as i said, there is very little progress when it comes

to trade. i don't think anyone was expecting a deal to be signed but it is fairto say expecting a deal to be signed but it is fair to say president trump really surprised japanese officials when he first tweeted that he expects some more details about trade deals after the japanese elections injuly. there is an upper house election as you mentioned but there has been speculation that shinzo abe might dissolve the more powerful lower house of parliament to have double elections before his government has to hike sales tax to 10% in october which will be a very unpopular move among voters so that raised eyebrows. then president trump said it again he hopes the trade deal will be reached in august. so that made news headlines here injapan and japanese officials had been busy explaining what the president may have meant, one minister said maybe he meant he hopes the deal will be reached in august but definitely, nothing concrete so far. thank you for joining us. let's look at the

markets. in asia, trading somewhat higher, chinese investors thinking the government about to offer some more stimulus into the economy after we learned many companies profits we re we learned many companies profits were lower in april. you can see, most of the asian indices closing up, the same for the american auto—makers. making gains yesterday because of the planned merger between fiat chrysler and renault. then let's look at the picture in european trading so far today. investors yesterday were digesting the european election results with prounion groupings still in control of parliament. certainly a bigger voice for eurosceptics. actually, most of the european indices in the red today, the ftse here in london getting underway for the trading week because yesterday was a bank holiday here in the uk. ritu vohora, investment director, m&g investmentsjoins us.

european elections, the fallout from that, i suppose the next thing that will have a bearing is who they choose for the top jobs including the ecb? that's a very important point and what we've seen from the elections, the key result, pro—european parties remain the majority vote so that's why markets have been more resilient in the euro hasn't moved that much but of course what it means for it now is markets, who takes the top jobs and of course that will have implications for who is at the top of the european commission but also as your previous guest talked about, whose in the top job at the ecb as well. who do you think investors see as the greater threat when it comes to european elections, the rise of eurosceptics oi’ elections, the rise of eurosceptics or the rise of the green parties who have had a green surge and a real surge in these elections? such an interesting outcome, you've seen the rise in eurosceptic parties coming into favour but not as much as i think a lot of people feared and that's why markets have been a bit more happy about the result. but the clear surprise was very much the liberal democrats here in the uk but

also the green party coming up to the fore. i think this has implications for decision—making in the european parliament, particularly its more fragmented at a time trade becomes more important and of course, i think, even though the european parliament as pro—eu, they are going to have to start considering what eurosceptics want as well as the smaller green parties and particularly in terms of things like climate change. one of the things we saw boasting in paris was talk of mergers between fiat chrysler and renault. and something like 15% up, the share price and renault. clearly an appetite to see that kind of merger in the car industry? i think so and market reaction has been positive. we've seen more consolidation in the automotive industry, there are more challenges now, especially as companies move into electrical vehicles, autonomous driving and you have competition coming from the likes of google. so i think traditionally incumbent car companies need to innovate and doing it alone is very expensive so they

need to partner up and that's what we've seen with renault and fiat. really good to talk to you, we are going to look at some of the other business stories in the media a little later so you willjoin us again for that. still to come we'll get the inside track on eating at home yes ‘in‘ is the new ‘out‘ when it comes to dining. more and more people are cooking at home, as food prices rise and home cooking becomes more economical. you're with business live from bbc news. keeping it in the family: good or bad? according to a new report, family businesses contributed almost £600bn to the uk's gdp in 2017 - 28% of the country's economy. the institute for family business report also reveals that family smes are more likely to have female leaders than non—family firms. our business reporter sean farrington has been

at an industrial laundry this morning speaking to the family that has run the firm since 1927. 85% of private—sector companies are actually owned by family businesses, 13 million people right across the uk work for a firm so how family businesses do is pretty important. express linen here are on their second generation, they get through 450,000 sheets a week, how are they going to move on we got potentially the third generation with this. morning. mark, what is it about being a business that has meant you continue to run it in that way after your father? i think my dad started linen hire in blackpool in the early 70s and he made

a real success of express. it wasn't what i wanted to do when i left school, i didn't imagine myself as a laundry but i realised it was a great business to be in. blackpool is a great place, full of hotels, always been busy and i saw there was an opportunity to push the business forward and then well, his succession from school just seemed the obvious thing to do to come into the business with me. that's interesting. did you have much choice, did you feel you wanted to go into this or did hejust say, get in here? it's always been what i was going to do to be honest. i've never really thought of even doing anything else. i've always quite liked the idea of joining the family business and yes. what pressure does that add when you've got your son, you need to make sure the business is in good shape for your son ‘s future? yes, the business is in good shape but it feels in better shape with him here. i think for our staff, for them to realise that there is a new way forward, that that gives strength to the business. i think it's definitely a benefit, at this point we haven't seen any

negatives to there being a family business. going to be in charge one day? hopefully. thank you. yes, big percentage of businesses across the uk run by families, that succession planning a key one for them to have to take into account. your're watching business live — our top story — candidates are lining up to compete for one of the biggestjobs in europe — the next president of the european central bank. a quick look at how the markets are faring little bit of a mixed picture, the ftse 100 little bit of a mixed picture, the ftse100 outperforming the frankfurt and paris indices, the pound just down slightly against the dollar. ‘in‘ is the new ‘out‘ when it comes to dining. more and more people are cooking at home, as food prices rise and home cooking becomes more economical. in fact, it's almost five times more expensive to order delivery from a restaurant than to make a meal yourself. some people are using pre—prepared meal kit services as a shortcut — and while that's more affordable — it's still almost three times

as expensive as cooking from scratch. but top tips from professionals can be a life—saver in terms of economising time and energy in the kitchen. niklas wakeus is founder at professional secrets. this firm tries to show itjust that, professional secrets with people cooking at home. why do you think people aren't eating out as much? it's also fun to cook at home with family and friends and it's also a hobby. we see there is a lot of people interesting in cooking more and more, it's a creative process and it's fun to cook at home. give us an idea of some of the secrets that could help people if they are watching at home and they wa nt to they are watching at home and they want to cook like the professionals but like me, they don't dare inflict that on their friends or family because they think, this could not turn out very well at all. it's heaps of secrets from the professional chefs and we try to make all home cooks become stars in

their own kitchen. how? we created a huge knowledge data base, their own kitchen. how? we created a huge knowledge database, we spent four years retrieving tips, tricks and inspiration from professional chefs in workshops and republish that online. are you going to share any with us now? there are so many but if you want to impress your friends, for instance, you can learn if you signature dishes and you learn them to perfection and then use them and you mix different dishes every time you have them. you are wearing some of your secrets. let's see. one thing, because the next thing which is a secret from professional chefs, temperature is everything. this is not a microphone, it said thermometer. and if you want to cook fish, for instance, it's only 2 degrees difference from a quite boring overcooked fish compared to a perfect vision. so you need a thermometer with a thin needle, it has to be fast and it has to be

accurate and it should be easy to read. temperature is one thing. having if you signature dishes is one thing. and that third thing i can mention is the process, in kitchen terms we speak about everything being in place, in a professional restaurant you have a prep kitchen and you do stop before chopping and peeling and everything and when the guests arrive you make the final touch. and it makes it much easier and you can enjoy it more time with your guests. much easier and you can enjoy it more time with your guestslj wonder, you talk about dining in being the new dining out, a lot of that isn't just about being the new dining out, a lot of that isn'tjust about people cooking at home but it's about ordering from restau ra nts a nd at home but it's about ordering from restaurants and all the apps that allow with that, do you see a divergence between people who are really passionate about cooking and love to do so for their friends and people just coming love to do so for their friends and peoplejust coming home love to do so for their friends and people just coming home from work and they are exhausted and they don't want to have to think too hard about it. it's a little bit different between the weekday cooking if you like and the weekend cooking, if you like. and we

experience from being internationally on trade shows and so internationally on trade shows and so on, talking to people from many, many countries, it's a similar culture, its a similar trend every four, people are actually cooking more from scratch. and it's a positive trend because people are more conscious and aware ..ij positive trend because people are more conscious and aware i was going to say, does it vary from culture to culture and country to country? what we find is the trend is the same everywhere, people want to cook from scratch but it also comes from the global trend of being healthy, choosing local ingredients, eating more ecologically, getting your children and giving your children food, you know what they get instead of buying ready produced and so on. so it's a positive trend, we have a saying when it comes to meat, the meat book and we say it's better to choose a little better at meat but less meat and then you get

better animal breeding and so on. it's a positive trend, and the consumer is it's a positive trend, and the consumer is aware. | it's a positive trend, and the consumer is aware. i think that's good. why do you think some of these devices haven't made it from professional kitchens into home kitchens until now. there is a big trend, you see on cooking shows on tv all the time, masterchef and all these programmes, there are as professional chefs and they are a little bit like heroes now, we set out to make a thorough process so we sit down with a professional chef team and industrial designers and we discuss a product. and we say how do you use it, what should it be, what are the features etc? all of our products have liked some built in secrets in them. like the thermometer, for instance and the apron and the side towel. going back to what you said about having a signature dish, what would you recommend, what is a good one that you can master easily?” recommend, what is a good one that you can master easily? i do a lot of

long cooking, like beefburger neil. i could do that, could i?|j long cooking, like beefburger neil. i could do that, could i? i could do that. you could do that the day before, that's interesting. and then you have a very good both berger neil which is cooked for a long time. just like that curry you ordered last night, it's always better at the day after. what is your signature dish? spaghetti bolognese. on that is my go to, but you can't always do that. spaghetti bolognese, the bolognese should boil for a long time. use the thermometer to check. i might get the recipe. thank you so much. from cooking in the kitchen to coffee in a coffee shop. a coffee shop in san francisco is serving up a 75 dollar cup of coffee — and people are buying it! cody godwin went to have a taste and find out

what all the fuss is about. i think this one is the copy from panama. it's more complex, it tastes watery, you can taste the oil, it's flavoursome. that's more sour in a good way. there is an obvious taste difference but i'm not sure if it $75 worth, why on earth would someone spend that much on a cup of coffee ? this won the best of panama competition which is really like the grammys of coffee.

we have sold about 20 cups. and how many cups have you given away in tastings? probably 20 as well. i was just i wasjust thinking i was just thinking if you bought some of that, you'd be terrified of spilling it. that's like when you have a posh cocktail in one of those tall glasses, one little knock and you spelt a few quid on the floor. we have one tweet, somebody saying their favourite indulgence is sockeye salmon and a piece costs £25. it's up there with caviar and the like, obviously. we had quite a good one about indulgence being vintage cars, collecting them for several years. i can't remember who that was from but thank you. quite an indulgence. what's yours? i think ifi

an indulgence. what's yours? i think if i was going to choose it will be cars over coffee, as you say with a cow, cars over coffee, as you say with a copy, i will be worried that's a pound going down with every sip. imagine going to do a coffee run with your colleagues, and everyone orders the most expensive one in history. you put a lot of milk into it. but that's not the spirit, not deliberately but accidentally. sabotage the copy. let's get to the papers. vitu is back to look through some paper stories let's start with this from the south china morning post, signs of a property bubble in china? interesting article, very similar parallels between what's happening in the chinese economy and the amount of liquidity going into the housing market and what happened in japan in the 19805 which led to a ma55ive deflation environment for the last 20 years. parallels being drawn there but i think when we look at china, growth is slowing but we need to realise government is very much dry to transition the economy

away from being export orientated to much more consumer driven and when we look at the property market, ye5, it'5 we look at the property market, ye5, it's been mi5—allocated for the last two decades but the chinese economy i5 two decades but the chinese economy is very much dry to curb that, they are talking about deleveraging, tightening credit and dry to cut the boom in speculative robbery purcha5e5 boom in speculative robbery purchases so they are confident —— conscious of this issue and they're dry to transition the economy. briefly, let's talk about codes to protecting victims who are conned into transferring money. we hear a lot about this with the live bidding scams and never make sense to me why you can't trace the money because it's electronic. it is but fraudsters are getting more sophisticated so the issue here and i think that's why it is a great initiative, when you think it's a genuine company, it might be hmrc or a business and you legitimately pay the money and your bank thinks it's 0k the money and your bank thinks it's ok but it is fraudulent, that's where the risk is. we have to leave it there but time is against us.

thank you for watching. we will see you soon. hello, good morning. yesterday the temperature reached 20 degrees in the south—east of england, today the temperature is lower right across the uk. it will feel coolerfor temperature is lower right across the uk. it will feel cooler for most of us. going to be a mixture of sunshine and showers. that cooler aircoming infrom sunshine and showers. that cooler air coming in from the north, you can see the blues from the arctic losing their wet south across the uk, all of us today feeling a bit more of a chill through this morning. as we go through the day, there will be sunshine across most of scotland, through northern ireland, north—west england and wales and the south—west of england after the shower is clear this morning and it's the afternoon that will see most of the showers across

central and eastern parts for england and eastern scotland. some of the shower is heavy, thundery, feeling pretty chilly on the north sea coast, temperatures between 10-13d. sea coast, temperatures between 10—13d. shouldn't feel too bad the further west you are with sunshine and highs of 19 degrees. through this evening and tonight we see the weather system are gradually moving its way in from the west, high pressure to the south, the wind switching to a south—westerly, not quite as chilly during wednesday. certainly as we go through to the early hours of wednesday we see more cloud moving its way into wales, the south—west of england and temperature is generally about 7-10d. still temperature is generally about 7—10d. still perhaps a bit of a chill in the far north—east of england, north—east scotland, temperature starting on wednesday about three or 4 degrees. but throughout the day, cloud spreading to most areas and patchy rain moving through england and wales, spreading its way into scotland for a time during wednesday afternoon.

temperatures in the far north—east between 10—13d, elsewhere temperatures reaching 16 or 17 degrees. into thursday, that south—westerly wind is with us bringing in milder conditions but also these weather systems are still with us, bringing more outbreaks of rain but you can see the blue colour is more limited to the far north of scotland, elsewhere with the south—westerly wind some orange colour is returning and by the end of the week, into the weekend, temperatures could be as high as 25-26d in temperatures could be as high as 25—26d in the south—east of england. as you can see from the outlook, quite mixed, despite temperatures rising there will be quite a bit of cloud and some outbreaks of rain. that's all from me. goodbye.

you're watching bbc news at nine with me, shaun ley. the headlines: tory leadership candidate jeremy hunt warns that pushing for a no—deal brexit would be ‘political suicide' for his party. i want to solve the brexiter crisis that we are in, and i and worried that we are in, and i and worried that if we don't solve it we will face a political crisis that is far bigger than our legal relationship with the european union, it could lead to the destruction of our party system and the end of my own party. pressure grows on labour leader jeremy corbyn to change his party's policy on another brexit referendum. two people — including a 12—year—old girl — have died in a knife attack on a group of schoolchildren at a bus stop injapan. another climber dies on everest — the 11th to perish on the mountain