this is the business briefing. i'm sally bundock. the uk government battles to get its brexit legislation through parliament after the speaker blocks a straight yes or no vote. the economics of poverty — one of this year's nobel prize winners shares his biggest concerns about the global economy. and on the financial markets, no action injapan today with markets shut to mark the formal ascent of japan's new emperor. positive signs about trade talks helping other markets in asia.

let's focus in more detail on the british government's plans. the british government has finally published the eu withdrawal agreement bill that would ratify borisjohnson‘s brexit deal. ministers are hoping it will make its way through parliament this week, allowing britain to leave the eu at the end of the month, without an extension. the opposition says it's impossible, though, to give the bill — all 110 pages of detailed legislation — proper scrutiny in just three days of debate. earlier, the speaker refused to allow a straight yes or no vote on the brexit deal. mark essex, director of public policy and part of the brexit team at kpmg joins me now. i don't envy you, mark. have you read this 110 page document?”

i don't envy you, mark. have you read this 110 page document? i was up read this 110 page document? i was up late last night and no, i haven't. neither have i, i must confess. but what is in there, your thoughts? it gives us a transition, thatis thoughts? it gives us a transition, that is the main thing for business. they would avoid the cliff edge, thatis they would avoid the cliff edge, that is the main comfort they get, that is the main comfort they get, that there is a deal at all. but this has to get to parliament, and just in three days to grapple with all the legislation in that timeframe. what do you make of that? that increases the risk something might go wrong. so businesses will also be worried or will be looking foran also be worried or will be looking for an extension. an extension again removes that cliff edge but it prolongs the uncertainty. once we get through this bit, the withdrawal, we then have to renegotiate the future arrangement, we only have 1a months. every moment we only have 1a months. every moment we spent on part one is less time spent on part two. what are you doing with your clients? many of them have already made preparations

and they are in the calm before the storm. we're saying make sure your executive teams are ready, prepared for the possibility of new deal, it could still happen. make sure everybody is in the country and prepare for destruction if that happens. but the central scenario, we expect, probably an extension, perhaps a short one, and keep your eyes on what is going on in the negotiations. you don't think a hard deal could happen on october 31? a crash out or whatever you want to describe it as? it's less likely. the european union could say no to an extension. i don't see them doing that, but if you leave things very late, it's a possibility that accidents could happen. if they put strings on the deal or insist on conditions, it has to come back to parliament and that isn't straightforward. are you concerned about the type frame —— timeframe? three days to look at the detail, 110 pages worth of legislation about

all sorts of aspects about how the uk as all sorts of aspects about how the ukasa all sorts of aspects about how the uk as a country is run. regulation, movement of people, goods, services, et cetera. there is a lot in there and people are worried it isn't going to get the scrutiny it deserves. that is a fair challenge but we have been thinking about the subject four years. i think we have that 14 subject four years. i think we have that 1a month period to renegotiate oui’ that 1a month period to renegotiate our future arrangements, so potentially if there is something in the withdrawal agreement bill needs to get sorted out there is time to rectify that. but no, it is not ideal. it is not ideal. mark essex, thank you for coming in and sharing your thoughts on that. we will be talking about that in the news briefing as well. softbank has reportedly offered to take control of the struggling office space provider wework. the japanese conglomerate has been a long time backer of the troubled shared—office space provider. let's go to our asia business hub where rico hizon is following the story. sally! softbank is going to take

over wework, is that the deal? that is the talk in media, sally, because japan's softbank, they say in very advanced negotiations to take over wework in a deal that will value the embattled company between 7.5 — $8 billion. and an announcement could come as soon as today. after the move, softbank would have as much a 70% or more control of wework. ali, the anticipated takeover marks the latest chapter in a dramatic year for what was at one point anticipated to be one of wall street's hottest initial public offer is because last month wework abandoned its ipo when investors questioned its large law authors, the sustainability of its business model, and the way it was being run by co—founder adam newman who gave up by co—founder adam newman who gave up his ceo title analysis serves as board chairman. and there are also

reports that softbank is planning on paying newman $200 million to step aside if it takes over wework. so wework may soon have its conclusion. sally. thank you so much, rico, in singapore for us. now, drivers with electric vehicles could be offered free parking and other incentives such as driving in the bus lane under new plans from the uk government. ministers want all electric vehicles to be given green number plates so that local authorities can offer drivers new incentives. a consultation on the idea begins today, as our transport correspondent tom burridge reports. imagine you could zip out of this congestion, into the red lane, just like a taxi or a bus? well, under government plans, electric vehicle owners like rod, might be able to do exactly that. that would be a huge

plus, that would halve my commute time and be a real incentive for me to drive a car like this. green numberplates, which could look like these, would make it easierfor councils to introduce incentives like free parking or access to the bus lanes. driving in a bus lane would change my mind, driving an electric eye is better for the planet. it seems like a good idea. there are too many cars on the road anyway. i think a better incentive would be to make the buses deeper. ultimately, councils decide which incentives to introduce and wear. the government hopes by making electrics more visible, it can drive change. we are pumping out the fumes from diesel and petrol that literally kill people. we need to raise the awareness of the quiet revolution going on on our streets. in oslo, electric vehicles' license

plates start with an easy. the rest of the world, including the uk, is playing catch up stop —— to start with and temple two —— an e. the government hopes incentives like being able to drive in the bus lane will help us make this shift. but the upfront cost of an electric is a big barrierfor the upfront cost of an electric is a big barrier for many of us. the upfront cost of an electric is a big barrierfor many of us. a weighted choice of more affordable models will be critical so they can become mainstream on our streets. tom burridge, bbc news, in bristol. one of this year's nobel prize winners in economics, abhijit banerjee, says india's economic slowdown is worrying. the professor shares the award with esther duflo and michael kramer, for their research into alleviating global poverty.

my colleague in india, arunoday mukharji, caught up with professor banerjee and asked about his biggest concerns when it comes to the global economy. the biggest concern is the internal politics and economics of countries and there is such a lousyjob of dealing with differences and that is really staring politics. look at mr macron, hejust really staring politics. look at mr macron, he just brought the yellow vestment movement on himself by imposing a tax on gasoline. basically, while not compensating people. it was just a bad basically, while not compensating people. it wasjust a bad policy. so they are doing a bad job for making policies for this particular world. where is there room for improvement? slowdown is everywhere. with china, the slowdown may be warranted in some senses. china is so big now, space for exporting more is getting

smaller and smaller and india should worry smaller and smaller and india should woi’i’y more because smaller and smaller and india should worry more because in some sense smaller and smaller and india should woi’i’y more because in some sense we need to go faster and indeed we need to look at what isn't working. i would say for india, the financial crisis needs to be serious. some of the points that you've talked about have not gone down well with members of the government. on one hand, the prime ministers congratulating you, but on the other, his cabinet collea g u es but on the other, his cabinet colleagues are doing the complete opposite. does it upset you?m u psets opposite. does it upset you?m upsets me, because i feel that what was upsetting me personally, that's fine, it's just people was upsetting me personally, that's fine, it'sjust people have different views. i feel it is good for the country, there is an appreciation that we need professionals at this point. and in a climate where people's

professional is respected does my professionalism is respected. and you don't think in this context, the way the words were used, your professionalism was not accepted? saying that i have nothing worth hearing because i am a leftist is not ok. it doesn't matter who says these things. that was abhijit banerjee, one of the team of three who won the nobel prize for economics on their thoughts on how to alleviate global poverty without a real issue for many worldwide that is driving a lot of political change. let's talk about political change. we are going live to montreal, we're just waiting forjustin trudeau to appear and say his first words following the news has retained power, his liberal

party, but as a minority government. so despite early losses in canada's eastern provinces, the liberals are expecting to claim the most seats in parliament which would give a second term forjustin trudeau. that is the scene in montreal, where he will ta ke scene in montreal, where he will take the stage very soon to give his first reaction, his first speech in response to the fact that he does get a second term. it was extremely close to coal, and his grip on power has been quite weak and quite a bit, which will force him to work with other parties to try and pass legislation during this next term. there are still votes to be counted, so it's unclear how each party will ultimately fare, but it's interesting because of because the conservative leader andrew scheer will be bitterly disappointed about this result. so it's been a really interesting fight as we've kept you

across how these has worked out in canada. justin trudeau swept to power in 2015, you may remember he looked extremely young at the time, promising real change and a slew of progressive pledges at the time. now after four years in power his face criticism for his inability to follow through. his environmental record has been undercut by his support for the transmountain pipeline expansion project, just one example of the many issues that have come up during his first term. so it won't be easy for him at all as he continues as canada's prime minister. so that is the scene in montreal. as soon as he takes the stage of course we will take you back there. this is advisor briefing, keeping you across all these events going on around the world. the other big event of course is the ascension of the japanese emperor, he is formally ascending to

the throne. 2000 delegates from all over the world are there for this incredible event as mariko oi has taught us through the ceremony. the sun is out now, it was pouring with rain earlier, so japan's emperor, naruhito, has formally proclaimed his ascension to the throne in this elaborate ceremony. 59 years old, his reign officially began on may one after the abdication of his father, the then emperor, aki kitto. -- akihito father, the then emperor, aki kitto. —— akihito was that his ascension comes as japan tries to recover from typhoon hagibis, which has impacted today's ceremony. they have scaled it down because 80 people died not so long ago at all injapan, and in tokyo as well. so events today have

been changed because of that. you can see some of the delegate there who are enjoying this event, among them, prince charles representing them, prince charles representing the united kingdom. you are with the briefing here on bbc news. now let's brief you on some other business stories: justin trudeau is expected to be returned to office, but his liberal party may have to form a minority government. and japan's new emperor naruhito has travelled to the imperial palace in tokyo, that is the empty throne there, the chrysanthemum the empty throne there, the chrysa nthemum throne, you the empty throne there, the chrysanthemum throne, you are seeing live pictures of what has been going on in tokyo. and in israel, the israeli president will ask benny gantz to form a new government after attem pts gantz to form a new government after atte m pts to gantz to form a new government after attempts to build a coalition government by benjamin netanyahu have failed. now it's time to look at the stories that are making the headlines