ross denton, trade partner from baker mckenziejoins me now.s compromise will be discussed with theresa may's new cabinet this morning. they have to sell it within the uk and in brussels. what is your take on what was hammered out on friday. brussels. what is your take on what was hammered out on fridaym brussels. what is your take on what was hammered out on friday. it is not an ambitious proposal to look at what theresa may has said you can find the detail of this in there. it isa find the detail of this in there. it is a free—trade agreement with couple of issues. the big thing i think theresa may has mist out on here is what will happen on the service trade. we are talking about clear rules all principles on the goods site but not much for services. they are quite an important part of our trade component and we do not know what will happen. that remains a grey area but interestingly, looking at financial markets in the business community and investors, the pound, despite the fact that boris johnson and david davis resigned, they are seeming

ross denton, good to talk to you.s samsung electronics says profits grew 5.2% to $13.2 billion in the three months tojune — the weakest quarterly growth in more than a year. weak smartphone sales, in an increasingly saturated market, contributed to this disappointing result for the south korean tech giant. engine manufaturer rolls—royce will sell its loss—making marine business to norwegian firm kongsberg for around $660 million. the sale is part of a larger restructuring of the company. the marine division has around 3600 employees, most of them based in scandinavia boeing has agreed a deal to take over brazilian plane maker embraer‘s commercial jet business. the joint venture will give boeing a significant stake in the market for smaller passenger planes. rival airbus recently took control of the regionaljet business of canada‘s bombardier. so with trade tariffs due to kick in today — one might expect to see quite a bit of anxiety on the markets. but seemingly not! tokyo‘s benchmark nikkei index snapped a four—day l

ross denton, trade partner at baker mckenzie joins me now. good morning. thank you to coming in.from john bolton. we are getting used to that. how important is this to president rouhani? he has to gauge how strongly the european union will come out fighting and it will be tricky for the european union to stop getting what it wants out of withdrawal so he needs to understand how we are they to do things and how far we how we are they to do things and how farwe are going how we are they to do things and how far we are going to match up in the us. the european leaders were quick to respond when the us pulled out of the deal, emmanuel macron, angela merkel and theresa may. trying to persuade donald trump not to pull out. how important is the relationship? it's very important. it's seen as being one new market for european business and really showing the european union union union has some cloud in the world so the europeans didn't have much option, and whether they can do that isa option, and whether they can do that is a practical matter. they are hoping this relationship can contin

ross denton is trade partner at baker mckenzie, one of the world's largest international law firms.nice to see you. good morning. you and i are chatting about this on a regular basis. it would seem that the conversation todayis would seem that the conversation today is about getting ready for no deal. absolutely, ithink today is about getting ready for no deal. absolutely, i think it is really important that all parties get realfor a no deal scenario. we need to understand what the fallback options are. i think the issue is really going to be getting people to understand that it is not so easy as you can trade on wto trade rules, thatis you can trade on wto trade rules, that is the current fallback option, but it is going to be a real shock to the uk economies. a new white paper is expected to come out today, it will detail advice the member state governments to get ready for a no deal brexit, to get ready for the movement of goods across the border is, but also the movement of people. it could be chaos that could in shoes. it could be absolutely chaos on both sides of the channel i