this is the business briefing, i'm sally bundock. facebookjoins the cryptocurrency revolution. the tech giant is expected to launch its new digital currency, but will users trust the firm with their wallets? heathrow airport announces its long—awaited expansion plans, but its third runway will have to wait untill 2026 before it is ready for takeoff. and on the markets: they are in a holding pattern, they are waiting for news for the us

federal reserve, it starts its two day meeting today. facebook has become part of our lives — ourfriends, our photos, and diaries. now, the tech giant wants to get inside your wallets. today it is expected to launch its own cryptocurrency. it has been called both libra and globalcoin, and is a $1 billion project that has been in development for a year. it appears to have the endorsement of more than 12 corporations, from uber to paypal, visa and masterca rd, and it is reported facebook will not control the new currency. it will be governed instead by an independent foundation of firms that have each invested some $10 million each. it will enable 2.4 billion monthly users of facebook, whatsapp and messenger to change money into its digital coins to shop on the internet, on the high street, or transfer money, without the need for a bank account.

importa ntly, facebook‘s token differs to other offerings because it will be pegged to a number of government—issued currencies. that is to avoid the wild fluctuations that have dogged other cryptocurrencies. take bitcoin, initially sold for a few cents, before soaring to a record high ofjust under $20,000 per coin in december 2017. each one now sells forjust over $8,300. for facebook to be successful with its digital currency, it will have to regain the public‘s trust after a number of privacy controversies recently. last month, facebook‘s ceo mark zuckerberg said he was confident the firm

was on the right path. now look. i get that a lot of people aren't sure that we are serious about this. i know that we don't exactly have the strongest reputation on privacy right now, to put it lightly. but i am committed to doing this well, and to starting a new chapter for our product. i'm nowjoined by dr garrick hileman, who's the head of research at blockchain. good morning. good morning. this announcement is expected today, and it is reported mastercard, visa, et cetera, a re it is reported mastercard, visa, et cetera, are jumping on it is reported mastercard, visa, et cetera, arejumping on the bandwagon. what do you make of this move? i think it is huge for crypto

currency and blockchain technology, for a company as large as facebook with its billions of users to embrace this, it certainly is potentially a big threat to the existing financial services industry, and a lot of these, visa, mastercard, paypal, have been rumoured and we think are going to join this consortium, and joined facebook. so they will have the option of taking on board and e—wallet, and in that wallet you will have your digital coins, currency which you can buy and trade with. and one of the questions we are waiting to hear is where you can use this. uber is supposedly a partner, you can pay for your uber rides with this currency, but can i use it at apple? will some of their competitors embrace the currency is a big question mark. there are also questions about whether it will be integrated with the broader ecosystem or whether it will be a separate, kind of walled garden crypto currency? and that is really important for facebook because as mark zuckerberg was saying there,

they are really aware of the fact their reputation is very eroded when it comes to what they do with our data. will we be willing therefore to hand over our bank details? right, financial information are some of the most sensitive information that we have and already people are concerned about facebook having too much about our friends, oui’ preferences. having too much about our friends, our preferences. will they structure this coin in a way that protects people's privacy? will they still ca ptu re people's privacy? will they still capture metadata, which is what most people think is where the real value is. when you say metadata, what does that mean? so not the contents of a financial transaction or exactly which retailer you bought something from, but maybe the time and the location, some of the higher level data that doesn't get into the real particulars. it is like the subject line or who you message, but not the actual text and e—mail, that type of metadata. it is absolutely fascinating, thank you for coming in and sharing your expertise, and thank you all your comments about this. i will mention another one, so fari this. i will mention another one, so far i haven't got any who say they are ready and willing to get a

facebook wallet. sally says it is a huge know for me, it is used to money laundering and support terrorists and organised crime. lots of thoughts coming in from you. take a look at the hashtag for your comments. we will talk some more about facebook later. now we must mention heathrow. heathrow, one of the world's busiest airports, will publish details of its expansion plans later this morning. the project to build a third runway is expected to cost £14 billion, that is $17.5 billion, but is facing fierce opposition from environmental campaigners. under the proposals, work will begin on the new runway in 2022 and be completed in 2026. 0ur transport correspondent tom burridge reports. they queue at heathrow. 99% of landing and take—off slots at written‘s main airport are full. they are notjust queueing up to ta ke they are notjust queueing up to take off. they are queueing up at

the sky to get in. the plan will arrive or leave heathrow every 45 seconds. it is why heathrow says it needs a third runway, and this is the airport's vision. the new runway would run over a new section of the busy m25. 761 homes will have to be moved, their owners compensated. local roads will be moved, rivers diverted. a new low emission zone around heathrow could mean additional charges for many vehicles, and the airport hopes it will be linked up to great western and southern rail. a new runway means potentially 260,000 more flights per year. 0pposition groups say it will mean unacceptable levels of noise and pollution, but heathrow says at night every local community will have at least seven hours when a plan is not flying overhead. it insists reducing its carbon footprint is a priority. heathrow

also plans to develop its terminals to cope with the additional traffic. the next step is a planning application. the airport hopes work will begin on the third runway in 2022. now let's brief you on some other business stories: the uk's finance minister, philip hammond, says he is aware of the risks attached with greater chinese investment. however, he hoped both countries could forge closer business ties. speaking at a joint economic summit between britain and china, he added the uk had controls in place to protect national security. the comments come as trade tensions between the us and china remain high. airbus has raised the pressure on rival boeing after the european plane maker announced $15 billion worth of orders on the opening day of the paris air show. airbus dominated the headlines

after unveiling its new a321xlrjet, which will compete against boeing's grounded 737 max. and the auction house sotheby‘s is being bought by french telecoms billionaire patrick drahi for $3.7 billion. the company, which has been on the new york stock market for 31 years, will return to private ownership after a troubled period. the art market has seen an uplift in recent times, after being badly affected by the financial crisis in 2008. let's now take a look atjet airways, because creditors are to begin insolvency proceedings against the struggling indian airline. the move follows a failed attempt to find a suitable buyer for what was once the country's biggest private carrier. joe miller nowjoins us from delhi. fill us in on what the future is for jet airways. fill us in on what the future is for jet airways. well, sally, this is a last ditch attempt to buy. a

consortium of airlines took over to recover what they can of the roughly $1 billion they are collectively owed. yesterday they came out of a meeting in mumbai and said there was only really one incredible offer on the table, that is reportedly from etihad in abu dhabi, and it required them to take an 80% haircut, or something like that. unsurprisingly they didn't find that appetising and they didn't find that appetising and they are referring the company to they are referring the company to the insolvency court in the hope that either another buyer will emerge or they will recover some of their money to a fire sale of what remains ofjet airways's assets. as days go by, a revival or rescue of jet airways is looking increasingly unlikely, not least because the capacity that was left byjet airways is soon to be bought up by some of its former rivals. thank you for that quick look atjet airways, in the news yet again. that's it for the business briefing this hour.

a lack of training for doctors on how to treat eating disorders is contributing to avoidable deaths, according to a committee of mps. their report says that medical students may getjust a few hours of training on issues such as bulimia or anorexia, and that the nhs has failed to act on recommendations to improve services. 0ur health correspondent dominic hughes reports. for the past decade, hannah has lived with an eating disorder. it's a potentially very serious condition, and yet she struggled to get the help she needed. there was a long wait, actually, when i was 19, to get help. so the weight was about next months for some cbt group

therapy, and by that point, that wasn't really sufficient, and also within six months i was extremely unwell, and by that point i was having, you know, suicide attempts. for those suffering with an eating disorder, getting treatment quickly is vital. at the eating disorder charity beat says last year 1 is vital. at the eating disorder charity beat says last year1 in five adults in england had to wait longer than 19 weeks while one in ten had to wait longer than 2a weeks. the average waiting time in england was nine weeks, but the charity says patient‘s face a postcode lottery for treatment stop what we found was that for some areas people are being seen within two weeks, for others they are waiting almost six months. it is a real variety across the country, and that's having detrimental impacts upon people's health. for those like hannah who are living with an eating disorder, a clear understanding of the illness is key. but a report from a committee of mps says the training medical students receive can amount to just a few hours. they

warn that, without better training and morejoined warn that, without better training and more joined up warn that, without better training and morejoined up services warn that, without better training and more joined up services to warn that, without better training and morejoined up services to help people like hannah, the nhs is risking avoidable deaths. coming up at 6:00am on breakfast: dan walker and louise minchin will have all the day's news, business and sport. this is the briefing from bbc news. the latest headlines: amid rising tensions with iran, the united states is to send about 1,000 more troops to the middle east to protect american assets. the field of six candidates to take over from theresa may as britain's prime minister will narrow later on tuesday, when conservative mps vote for a second time. the bbc has been given access to one of the many state—run secure detention camps in the far west of china that are being used to contain around a million muslims.

you can see more details about that online. now it's time to look at the stories that are making the headlines in the media across the world. we begin with new york times and the tensions between the us and iran with iran threatening to breach an agreement over its nuclear supplies and the us deploying 1,000 more troops to the region. the i looks at the race to become uk prime minister and reports that 100 mps from the ruling conservative party would help the oppposition block frontrunner boris johnson from taking the uk out of the european union without a deal. let's move on to bloomberg, and it reports that shares in beyond meat, the maker of pla nt—based meat substitutes, have reached a record high. newsweek among many covering a study of facebook.

it says scientists can diagnose some health conditions based on status updates. and the times has another popular story of the day. we've all had our hearts melted by puppy dog eyes but research shows it's an evolutionary trick developed over thousands of years, just to manipulate our emotions. it works every time. he melts my heart, my dog. with me is jane foley who's senior foreign exchange strategist at rabobank. if we start with the new york times, it is unpacking in detail the tensions that are escalating it would seem by the day between the united states and iran. and threats and counter threats. now 1000 troops more being deployed to the area. it's a real concern, isn't it?