The social network is moderated. And this is how your european markets are performing at the start of their trading day. Quite a mixed picture as we await that update from the fed. We will be diving into these numbers and more later in the programme. And well be getting the inside track on a business thats really been enjoying the sweet smell of success. The boss of fragrance firm floral street joins us. Experts say high tempo tunes cause motorists to drive faster and more erratically. Even dangerously. So today we want to know what you listen to on the drive to work and does it affect how you drive. Let us know just use the hashtag bbcbizlive. Hello and welcome to business live. Thank you very much forjoining us today. The worlds most powerful central bank, the Us Federal Reserve, is set to unveil its latest decision on Interest Rates later today. Many Analysts Expect the fed which cut rates injuly to cut rates again today by 0. 25 . It comes as President Trump has been heaping pressure on the central bank, sometimes on a daily basis, to slash rates and even go into negative territory. Last week the European Central bank took its rates into deeper negative territory and restarted quantitative easing injecting money into the Banking System saying it would buy up 22 billion in debt every month in a bid to encourage borrowing and spending in europe. Dr linda yueh, economist and author of the great economists is with me now. Are you with the majority thinking we are going to see a cut today by 25 basis points . That looks the most likely. There are a couple of other scenarios, at least one member of the fed want to cut it deeper, going to negative territory, which means they are really serious about not having a recession. There is also another view which says that the us is not close to being in recession, it is slower than the first quarter, but not close to being in a recession, so maybe jay powell, when he said this, injuly, this is not the start of a set of rate cuts, this is just an adjustment. He was heavily criticised for that, because most people like a central bank to give them a direction, youre holding, cutting or increasing . Will be get more of a direction at the press c0 nfe re nce be get more of a direction at the press Conference Today . be get more of a direction at the press Conference Today . I think he will have to be slightly clearer, because he has probably going to point to what is called the dot forecast, bear with me. Point to what is called the dot forecast, bearwith me. Every point to what is called the dot forecast, bear with me. Every Single Member essentially maps out where they think Interest Rates are going to go, so generally speaking it points to that. One of the things hes going to have to be extremely careful about is that the us, what the us says makes a huge difference, so even the us says makes a huge difference, so even if the us is only heading towards a slowdown, the Global Economy looks like it is also slowing, and in europe, it is dramatic, so we have a Second Quarter gdp, the German Economy is contracting, so it may be that if the major European Countries are headed towards recession or a slowdown, that will affect the us, so it has got to be a much more holistic view, and whatever he signals will have an impact on markets. Where are you in the great debate about where we are headed with the Global Economy is met because there is so much discussion about the risks, the trade war, the geopolitical risks in the middle east with saudi arabia and iran oil and everything else. Your thoughts . At this point in the cycle, any geopolitical risk, Saudi Arabia Oil refinery, south korea trade war, that all puts pressure at the wrong pa rt that all puts pressure at the wrong part of the cycle. If you think about where a cycle heads, back in the early 2000s, the us had a recession, europe did not, just a slowdown, so ten years ago many economies went into recession. Both of those scenarios are possible, so could any particular risk tip it over . And that is the concern that eve ryo ne over . And that is the concern that everyone has, which is you really cant predict what is happening with oil price spikes, you cant predict what is happening with the us china trade war. All you really need is just china trade war. All you really need isjust enough china trade war. All you really need is just enough negative sentiment to put it into a technical recession, but my overall take is, whether or not you have two consecutive negative quarters are not, we are in a slowdown, and we have to think really ha rd a slowdown, and we have to think really hard about whether or not they want to act to forestall it, or let it ride out a little bit. Most policymakers tend towards the former, which is why they think there will be another rate cut today. Thank you very much, linda, really interesting. And of course we have Samir Hussein on fed watching washington dc for us today. She will update us when we have news. Indeed. Lets take a look at some of the other stories making the news. Japanese exports fell for the ninth straight month in august, according to new data out today, as shipments from the worlds number three economy flail amid a global slowdown and trade tensions. Exports fell by 8. 2 year on year during the month, marking their worst performance since january. The european plane maker airbus has forecast a need for more than 39,000 new aircraft over the next 20 years. This would result in a need to recruit 550,000 new pilots and 640,000 new technicians. The report also highlighted that air traffic has more than doubled since 2000. The Trump Administration is later today expected to formally revoke californias ability to set its own air pollution standards. It will reportedly declare that all states are pre empted from setting their own rules in a move that will likely spark challenge. A record of number of britons sought debt advice in the first half of this year. Charities are warning that households are vulnerable to future economic turbulence. More than 331,000 people contacted the Charity Stepchange seeking help. Their average level of unsecured debt was around 17,000 , 6 higher than 2016. Now, facebook has unveiled its plan to create an independent board to make decisions over how the worlds Biggest Social Network is moderated. The company says the panel will make decisions over contentious material and have the power to override facebooks own policies. So, will it really . Our north America Technology correspondent dave lee explains what else hes learnt about the so called facebook Supreme Court. Well, the whole idea behind this idea, this Supreme Court, is to essentially remove the burden from facebook over how it decides what should and shouldnt be on its platform. Thats something that right now attracts a lot of criticism, particularly here in the us, about whether facebook is biased towards a certain point of view. This board is going to be designed to take that away from them and make its own decisions independently from facebook and they can override what facebooks policies say an add their own suggestions. Its going to consist of at least 11 people, but no more than a0. Who those people are, we dont yet know. They will be appointed by the end of the year. Facebook has said that those names will be public, as will the decisions they make. The first of those decisions is expected next year, thats when this group is going to get together to start determining what should or should not be on facebook. David lee there in san francisco. The markets now, and everybody is wondering what the fed is going to do. Will indeed cut Interest Rates as expected . Thats the question on the minds of investors today as we await that decision about the cost of borrowing in the us. A bit ofa a bit of a mixed picture in asia as well. We also saw the price of oil retreat somewhat althought not entirely on those huge gains it made ever since that strike against saudi production facilities. Thats because the saudis said theyd be back up and running by end of the month. Here in europe, this is how the main indices are performing at the start of their trading day. Also a pretty mixed picture, the cac in paris is completely flat. Lloyds of london has reported profits of £2. 3 billion in the first 6 months of the year, but new bossjohn neal has also been talking about the sexual harrassmant reports that have hit the firm in recent months he told sally theres more work to be done. We are celebrating five years of the festival she started in a couple of weeks, but whatever that news is telling us, whatever we think we have done, it is nowhere near enough, and we were pretty quick to say, we have got a strong action plan which offers help to people who feel they have encountered some form of harassment or poor behaviour. We would sanction people very strongly if we saw evidence of that behaviour, but the important thing was a deep cultural survey. We have had the results of that back. Sadly they will validate the issues that we re they will validate the issues that were being raised, and really give us were being raised, and really give usa were being raised, and really give us a call to action of what we need to do now to make the changes. How are you going to attract more women into the business . Your building is extremely impressive and you have a real sense of the history. Itjust stands out in london, it is known globally, but it is so male dominated. I think we have at all the best intentions, but in my experience, until we define where we wa nt to experience, until we define where we want to get to and we are prepared to measure and manage the change, particularly around gender equality, it wont happen, so we need to be a lot more robust. That was john neil, the relatively new boss of lloyds of london talking about their results. We have Fiona Cincotta with us, market analyst at city index, nice to see you, fiona. Do i assume that you are just watching the fed, having a long lunch, watching the fed . That is the big focus of the week. There was oil, but the fed is what everybody is watching. As you mentioned, the markets are broadly expecting a quarter of a percent cut, but also what is going to be very interesting is what the fed actually says about what is going to happen going forwards, because this cut is priced in, but the markets are also assuming a 40 probability of two further cuts this year, which is quite a lot. The fed, we have heard from the speakers throughout the month, and they are giving very mixed opinions about what is going on, soi mixed opinions about what is going on, so i think it is something that is going to be watched closely. And while these Decision Makers are supposed to be making decisions on their own merits undoubtedly they are coming under intense, unprecedented pressure from the president of the united states, and some might be tempted to ignore it completely, and others might feel perhaps to some degree compelled to act on this . I would like to say that they are acting as an independent body, but the fed bashing by President Trump really is overstepping the mark. And there could be some pressure. Also on the other side of things, there might be the pressure of not wanting to be seen the pressure of not wanting to be seen to bow to President Trump, so it could work both ways. And also they have to consider now, the fed, like everyone else, the impact of higher oil prices. In the future they got to factor that in on the impact on the us. I know the us now self sufficient so they havent got to buy Expensive Oil from elsewhere, so that is a factor. It could seep into inflation levels and a couple of months, it wont be so direct that we see it over the next month, but going forward, that is something that could be seen in inflation levels. Fiona, you do drive much . What you listen to in the car. Singalong music. We will explain why 200 beats per minute is bad for your driving. And if you drive faster in fast music, get in touch using the hashtag. Ijust fast music, get in touch using the hashtag. I just wanted fast music, get in touch using the hashtag. Ijust wanted to say it is 120 beats per minute, want to get my fa cts 120 beats per minute, want to get my facts right still to come. A business thats been blooming. We hear how floral street has made their fragrance business a sustainable success. Its a tongue twister here youre with business live from bbc news. Before all of that, though. Sorry, tadhg. Thats all right. Theres a warning today from a committee of mps that many of the uks regions and their businesses risk being left behind if they dont manage the transition to automation. Over to you thank you for that. The Business Energy and industrial strategy committe says the uk is lagging behind the g7 in moving to automation and risks missing out on what they call the fourth industrial revolution. Rachel reeves is the chair of the committee. Whats not being done right . Which should get priority managing impact on peoples jobs or maximising potential of robots . The problem in the uk economy isnt that we have too many robots, we have too few. The uk led the First Industrial revolution, but in the fourth we are lagging behind other countries. For every million hours worked in the uk, we havejust ten robots, and that compares to 167 in japan and 130 in the us and germany. Other countries are stealing our march. They will get the productivity growth, the Economic Growth in thejobs productivity growth, the Economic Growth in the jobs with higher incomes rather than the uk if we dont adapt and embrace some of these new technologies. You say we need to embrace these new technologies, but what about those people who will be worried about a robot taking their job . People who will be worried about a robot taking theirjob . How do we mitigate the impact on them . robot taking theirjob . How do we mitigate the impact on them . A lot of people will look back to the last Big Industrial change we had in the uk in the 1980s, and how badly manage that whiles, with jobs and livelihoods in communities destroyed. We need to ensure that that isnt what happens in the fourth industrial revolution. There needs to be a huge programme of reskilling, ensuring thatjobs and opportunities are available in all parts of the uk, and to people with all Different Levels of qualifications. So we are calling on government to look again at the schools and colleges and university curricula, and also to make sure there is a whole process of Lifelong Learning to ensure that people can retrain to get the skills where they can benefit getjobs in the new industries in the newjobs that are being created. Rachel reeves, thank you for being with us today. And on the business business live page, lots of stories updating. As staff who have been protesting this week after being asked to sign new contracts that require them to work more flexibly orface contracts that require them to work more flexibly or face redundancy. A bit ofan more flexibly or face redundancy. A bit of an ultimatum, it sounds like. Youre watching business live. Our top story the Us Federal Reserve looks set to cut Interest Rates today as fears grow over the strength of the Global Economy. A quick look at how the markets are faring. The ftse 100 the ftse100 is up the most compared to germany and france. The fragrance market has no shortage of products on offer. Bottles of scent made pricy by expensive branding or endorsements from by a myriad of celebrities and tv commercials. Glitzy ones, always. Huge budgets. Lots of money spent. Well, after working for some of the biggest beauty brands, Michelle Feeney spotted a gap for a modern, sustainably minded and affordable perfume brand floral street. It is entirely vegan, and packaging is recyclable and compostable. Michelle feeney, founder of floral street, is with us now. Thank you for being with us today, michelle. I did not realise that there could be animal products in perfume. Tell us more. It is down to the ingredients, really. Many of the traditional ingredients in fragrance we re traditional ingredients in fragrance were derived from animal sources. Mask can be from the musk gland of a musk deer, and things like that. But the industry has moved on and has nature identical ingredients that actually have less effect im giving allergies as well, which is interesting. So what we have done is put together a modern fragrance brand that is totally vegan. And a lot of people around the world are asking for vegan products. You have worked in the industry for many yea rs worked in the industry for many years with some of the biggest names out there. You know this industry well. Starting your own brand at the age of 53, you dont mind me mentioning that, i did check. Im proud but this is all about the packaging. You saw an area in which the industry wasnt working yet in terms of compostable packaging, and to the younger consumer, that is extremely important, isnt it . To the younger consumer, that is extremely important, isnt mm to the younger consumer, that is extremely important, isnt it . It is crucial to the younger consumer, but it is also important to. My mum is 77, also myself, that is where i saw the gap. We work with a 180 year old paper mill in the north of england that has gone into pulp, so i think it is about, you have just done an item about modernisation, but they have gone into pulp production. So we are the first to do a compostable packaging fine fragrance, and i wa nted packaging fine fragrance, and i wanted to bring this through for a modern consumer. It has also given as international distribution, because in the us and canada, the consumers are saying we want because in the us and canada, the consumers are saying we want to vegan, consumers are saying we want to vegan, we consumers are saying we want to vegan, we want somebody who cares about the planet and the packaging. And your packaging is lovely, but it doesnt really compare, i suppose, with what we expect from a fragrance purchase. A lot of the time it is about the un boxing, it is all very glamorous. But is that part of the chic these days, people are more focused on these things and are looking for earthly things like this . If you look at how fast we have grown, from having one store in Covent Garden which is like a window on the world, and we have customers all around the world coming in, and this i believe is the new luxury, not having cellophane wrapped and too much packaging that you have nothing to do with. And i think it is gathering momentum, all around the world. But the important thing is we are a beauty industry, so it has to be beautiful, and it has to smell really good, otherwise the consumer is not going to buy it. And it has to be really practical, these are much cheaper. Your perfume itself is kind of in the middle range in the market, isnt it . Average pricing. But these are smaller, you get them in your handbag, it is good ideas like that. How soon do you think you will get snapped up by someone like estee lauder who have worked up for another big brand . It wont take long, they will know that you are if they dont know already, and they will want to add you to your portfolio, surely . That is a great question, id love to think so. So you havent had enquiries yet . We have had interest from lots of people wanting to invest in future companies because they see how differently we are doing things. Im very proud to be a British Company. I think the british angle has given me this distribution, and while Chinese Americans love the fact that we are a british brand, we use 30 British Company is to make this, ingredients from all over the world. If we get to a point where i cant, i have funded this myself so far with my husband, if we get to the point where we are going global and we cant afford to invest, we will look for investors, im sure. But you are not going to own this forever, you cant own sustainable, vegan, combustible, so somebody else will get into the market as well. Yes, i think it is about building the brand, going fast, we are already in australia and new zealand. I have to ask the brexit question, we have asked people who are building companies, are you worried . If you see an opportunity, what is your take on it . |j worried . If you see an opportunity, what is your take on it . I am not worried as yet about this. Our ingredients come from all over the world, they are sustainably sourced, that could be an issue, but 70 of my business is outside the uk, and what im seeing is a slowdown of the uk, not the rest of the world, so we arejust keeping on keeping on. Uk, not the rest of the world, so we are just keeping on keeping on. Good for you. That is the attitude we need. Small and medium sized businesses that are the engine of our economy. Thank you for coming m, our economy. Thank you for coming in, lovely to see you. New zealand looks set for another middle earth tied economic boost after Amazon Studios picked the country as the location for its much anticipated lord of the Rings Television Series which could be the most expensive show ever made. Sarah toms is in singapore with popcorn at the ready. Iam i am actually very excited about this, sally. So this is an epic fa ntasy this, sally. So this is an epic fantasy show, of course, and as you say, expected to be the most expensive ever, it has a contract of at least a billion us dollars, and the deal is seen as a big win not only for new zealands film industry, but also for the government, which had been in negotiations for quite some time over this deal. Economic develop meant minister phil twyford said the project would create a range of benefits including jobs and significant overseas investments, and in case you are wondering what its about, Amazon Studios said the tv series will explore new storyli nes tv series will explore new storylines that proceed jrr tolkeins classic fellowship of the ring. Cant wait to see it hardly surprising that they are making it in new zealand. Not at all. It is a lot of money coming in. Fiona is back. Lets talk about this story that we have all the viewers getting in touch with us about. Explain it to begin with. A study done where drivers were monitored during specific music. Yes, with different pace levels of music, as you said, fast and the findings were really quite interesting in that faster music, drivers were driving slightly more erratically, would cross lanes more frequently, than they would when they were listening to slower levels of music. I think its really quite interesting. I think about myself and perhaps with other tasks, not necessarily driving, but if you are going to go for a run, you put your fast music and because it gets you going. You often do when you are trying to get an extra motivational boost when youre doing exercise and what have you, even just kind of dull work at home. Some people got in touch to say it increases their productivity levels as well, depending on what they do in the workplace, to have the right music on. But it also affects how you shop. Yes, of course, a certain quality of music in shops and what they are playing in the background to get you to spend more or whatever. One of the many tricks retailers have up their sleeves. Jason on social media saying, i listen to death metal while driving, has no one heard of Cruise Control . I think you should be paying attention to the road andrew says 25 years ago driving around listening to my 300 beats per minute plus techno music was great, but not so fast in my fiesta 1. 1. That is a good way to hold you back. Sg says they drive slower, so the journey is longer, so they can sing along badly to their favourite rock tunes. Fiona, thank you for being with us. And thank you as well for your company. Whatever you are tuning to, make sure you tune in to business live tomorrow. There will be more Business News throughout the day on the bbc live web page and on World Business report. Well see you again tomorrow. We had quite an autumnal feel this morning. Temperatures got down to fairly low single figures this morning. We had a temperatures low as one or two celsius in parts of southern england. Most of us will have a dry day today with some sunshine, but we have a warm front coming over the top of this High Pressure towards the north of scotla nd this High Pressure towards the north of scotland bringing some outbreaks of scotland bringing some outbreaks of rain. It will stay quite cloudy across northern scotland today, the cloud breaking up in southern parts, and some cloud drifting its weight into Northern Areas of england, but even here there may be some sunny spells. Plenty of sunshine in Northern Ireland through much of england and wales today, and maximum temperatures getting up to about 16 19 temperatures getting up to about 16 19 degrees. Through tonight, we will continue with a bit of cloud, still some drizzle in the northern isles, patchy mist and fog developing, probably a bit more extensive than we saw last night, and again it will be quite chilly temperatures down into fairly low single figures, about 4 6 degrees, lower than that in the countryside. But it means that for thursday morning there may be some mist and fog, that were clear, there will be sunshine throughout the day, a dry day expected, always a bit more cloud throughout the north of scotland, and top temperatures on thursday getting up to around 1719d, but thursday getting up to around 17 19d, but well into the 20s across england and wales. Going into the weekend, High Pressure is going to gradually drift away towards the east, but it is there or thereabouts, certainly for friday, so thereabouts, certainly for friday, so it is going to be another fine day with a get lots of sunshine, any mist and fog in the morning clearing away fairly readily, and you will see her barely a cloud in the sky, for many of us during friday. Maximum temperatures 19 21. The temperatures will rise further as we go into saturday, because as the high drift eastward, we are going to see more of a southerly when developing across the uk, and just bringing that warmer air from the near continent. So while again there will be lots of sunshine throughout the day on saturday, it is those temperatures that will rise, and we could be up to about 26 celsius in the south east of england during saturday. A bit of a change on sunday, cooler, cloudy and wet conditions moving in from the west, and those temperatures down to 1823d, and those temperatures down to 18 23d, and there will be some rain at times. Youre watching bbc newsroom live, where the row over borisjohnsons decision to suspend parliament will return here at the Supreme Court for a second day. I cannot look you straight in the eye and tell you that any Real Progress has been achieved. Youre watching bbc newsroom live, where the row over borisjohnsons decision to suspend parliament will return here at the Supreme Court for a second day. Today the court will hear from the governments representative, and from scotlands highest civil court was right to rule that the move to suspend parliament was unlawful. Our other stories this hour