A visit to canada and protests for independence in spain with our economics editor later in the programme. And as some of californias cities sue Major Oil Companies for rising sea levels because of Climate Change we want to know whos really to blame. Let us know on twitter . Just use the hashtag bbcbizlive. Hello and welcome to business live. We start in florence, italy, where british Prime Minister theresa may will set out her position on brexit in a speech later. With just 18 months to go before the uk is set to leave the eu, she hopes it will break the stalemate in negotiations. So what are we expecting . Sources have told the bbc that theresa may will ask for a transition period of up to two years after the uk leaves in march 2019. She will offer to keep paying into the eu budget during that transition so other eu Member States dont have to contribute more as a consequence of the uk leaving. At current levels that would amount to about 20 billion euros about 24 billion. In return she wants uk access to the eu Single Market and some form of Customs Union in the transition period. This could save british firms from a cliff edge situation and allow the uk time to negotiate new trade deals. This wont end the wrangling over money though. Counting long term liabilities like eu pensions and debts brussels has put britains total exit bill at up to 100 billion euros or nearly 120 billion. So will it break the deadlock . We will soon find out the next round of brexit negotiations start on 25th september this monday. Pieter cleppe is the head of the Brussels Office of open europe, an independent research body. Is this going to be enough to get a deal or is itjust keeping the show on the road . Well, we shouldnt forget that the eu side is not demanding a final deal on the money. It only wants to achieve material progress before it was willing to move on to trade talks. So the initial idea was to decide if there was enough progress at the october summit but this has become so symbolic that i dont think the eu will be willing to give the uk government this victory so in all likelihood, if there is a decision to move to the trade stage, then this will be in december. 50 what you are saying also is that europe has the uk slightly over a barrel, because theyre not going to move on to trade talks and not move on until they get what they want in terms of they get what they want in terms of the money and say agreement on eu Citizens Rights and uk Citizens Rights and the Northern Ireland border . Initially the European Commission wanted to demand that there is a final deal on the money before there could be trade talks but this was watered down by the eu 27 capitals. So its all become a little bit symbolic but at the end of the day i think we only have a final agreement on the money at a very end when there is a deal on everything because its politics, everything because its politics, everything is linked to everything. In the speech theresa may will also specify likely some concessions on Citizens Rights so actually what britain has proposed in terms of the rights of people would get that is largely 0k rights of people would get that is largely ok for the eu side. The eu is mostly worried that it will be very ha rd is mostly worried that it will be very hard for citizens to actually obtain these rights so as i understand it britain would commit to some kind of direct effect of these rights which would sort of make it easier for people to get their Citizens Rights. Make it easier for people to get their Citizens Rights. In the past their Citizens Rights. In the past the uk Prime Minister has said she would take no deal over a bad deal. Is there a feeling when she comes to the table today we have been told there are going to be warm words, there are going to be warm words, there are going to be numbers given, is there now a realisation perhaps a deal needs to be made . Of course the uk wantsa deal needs to be made . Of course the uk wants a deal and the eu also wa nts a uk wants a deal and the eu also wants a deal but imagine if theresa may would say that she would accept any deal whatsoever, i mean that would dramatically weaken her negotiating position, wouldnt it . So we shouldnt read all too much into that. Its clear that the uk government wants a negotiated brexit, not a cliff edge brexit. Actually, when you want a negotiated brexit, then there is not so many options on the table. Of course you need a transition period, but at the end of the day britain cannot be a rule taker like norway, end of the day britain cannot be a rule ta ker like norway, its end of the day britain cannot be a rule taker like norway, its too big, too important for that. Also you couldnt imagine that britain would keep outsourcing its trade policies, so eventually the uk will leave both the Customs Union and the Single Market. Thank you very much. Op Single Market. Thank you very much. 0p other stories making the news. Facebook founder Mark Zuckerberg says his company will share 3,000 russia linked political adverts with us investigators. In a live address on his facebook profile, he pledged to make political advertising more transparent on his network in future with disclaimers about which campaign or organisation paid for it. The move is being interpreted by some as an attempt to fend off any potential regulation from the us government. President trump has signed a new order that boosts us sanctions against north korea over its Nuclear Weapons programme. The us treasury has been authorised to target firms and Financial Institutions conducting business with the north. The president also said Chinas Central Bank had instructed other chinese banks to stop doing business with pyongyang. A top us financial regulator faces questions about its preparation for cyberattacks, after disclosing a breach of a key database of company filings. The securities and Exchange Commission said a Software Vulnerability allowed access to private information and may have led to illicit trading. The yen has climbed against the dollar after north korea suggested it might test a Hydrogen Bomb over the pacific ocean. Tim mcdonald is in singapore. The yen, it seems bizarre that you have an appreciating yen at a time when japan is, as have an appreciating yen at a time whenjapan is, as it were in the firing line, literally, i suppose . Yeah, thats right. You think japans currency might not be where investors flee to if japan is the one at risk. It turns out thats not the case at all. A little history might be instructive here. The yen isa might be instructive here. The yen is a robust currency, after the 2011 time and Nuclear Disaster investors ploughed so much money into it the took Government Intervention to bring it back down to normal levels. Whats happening today, analysts have told me there are a few things at work. Investors see it as more of an economic threat rather than a security threat. This crisis might dent confidential or a block yad might have a cost but nobodys Vice President ing expecting war. If this is run of the mill bad times people will do what they always do and put money into yen. Secondly, its actually really only seems to be the only save haven in town. Investors seem to rate the us dollar and gold as riskier than putting money into the yen. So the yen turns out to still be a save haven currency and thats where investsers are putting money. Thank you very much. We are going to talk about the markets. 0vernight asian markets had a bit of a wobble investors feeling jumpy once more about geo political tensions in north korea also a bit of selling for profit happening as traders cashed in after a good week. Wall street closed down with a second downgrade of chinas debt rating also adding to the negative feeling. European markets are open north korea weighing on investors around the world. Samira hussain has the details about whats ahead on wall street today. Apple unveiled three new phones and advanced watch that can take calls and a new apple tv. But die hard fa ns and a new apple tv. But die hard fans will not be able to get the new iphone x until november 3. The iphone x until november 3. The iphone 8 and 8 plus will go on sale onfully friday on friday. The organisation of the Petroleum Exporting countries, 0pec and non 0pec countries are meeting to discuss a possible extension of a deal to cut supply to cut oil prices. The 0pec aims to clear a global glut of oil by curbing output by about 1. Global glut of oil by curbing output by about1. 2 global glut of oil by curbing output by about 1. 2 million karls barrels per day. Russia and other non 0pec producers agreed to cut half as march until half as mch until march 2018. Now the markets. Joining us is james quinn, Group Business editor at the Daily Telegraph sunday telegraph. 0pec, talking about there, does it have much control over the price at the moment do you think . Not particularly. Speculation, obviously 0pec is a cartel of sorts and so it should have, but it hasnt had of late. There was a lot of talk in march of a supply cut and that would do to the price, the price has been pretty much flat if you look at the last six months. What do you think will happen . I think theyll probably fudge it, suggesting there wont be a cut and the price will continue to hover around this mark we have had for sometime. Way off the 100 dollar mark. Are they happy, is saudi happy . I think on an historic basis, its not bad. Two yea rs historic basis, its not bad. Two years ago on 100 dollars, you know, greed is all round and its all about money. Do you think theyll get back up to 100 dollars, thats one of the reasons why they keep cutting ply to increase demand and the price . Behind this is a possible float, the worlds biggest public company. A higher value of oil at the time of the float, the higher the time of the float, the higher the greater money the saudi royal family will receive from whatever is sold. You have this prospect of shale stepping in as soon as the price goes above a certain level, shale comes in. And stops the price going higher. You have that balancing factor and so once 0pec was all in the 70s and 80s, particularly not so much. Briefly, chinas downgrading on the nations credit rating, tell us what impact thats had . Credit rating, tell us what impact thats had . I think thats had a certain impact. What is more concerning coming down the track is the impact of fed tightening on china and money coming out of china. Interest rates go up in the states. A warning on that yesterday. We will have you back at the end of the programme. Still to come, we take a look back at some of the weeks biggest business stories. Including theresa mays visit to canada, a lot of travel for the british Prime Minister. How fruitful were those talks . 0ur economic editor will be here to discuss. Youre with business live from bbc news. Slough in berkshire has come top of a list for work, the cost of living and employee satisfaction. Jobs site glassdoor, which has been measuring the 25 best uk towns cities to work in for 2017 says its study showed that slough had emerged as a prime spot as cities like london have become too expensive. Mark di toro from glassdoor joins us now. You are going to have to give us, the last time i went to slough, with all due respect, i didnt really like it very much. Good question. Look, deciding where to live is one of the most important decisions we all make. Therefore, it must be an informed decision. Using data like this to make the best decisions, employers love informed employees. Its employers love informed employees. Its decisions to be made by the head and not the heart. Slough is, if you look at the data, slough has average salary levels which are the same as london. Has lots ofjobs, huge Multinational Companies based across that tech backbone of london around that area and people are satisfied, people are happy. And we re satisfied, people are happy. And were you surprised that it was slough, were there other surprises on the list, or has slough been inching up over recent years . Slough is new to the list this year, its come out of nowhere. 0ur is new to the list this year, its come out of nowhere. Our data looks at the last 12 months. Its been a surge injobs in slough. Theres huge low unemployment rates there. Surprisingly, we had newcastle in the list for the first time, luton. And other regions like that. The list is full of companies around that midlands area of the uk which is close to Heathrow Airport and in terms of businesses its cheaper to be based there and the employees are cheaper to hire. Do these lists a chilly matter, who looks at them . This is the thing, its about making people as informed as possible, job seekers. Ifjob seekers are looking at this, they will be better hires, they will stay at companies for longer and be more satisfied, and in terms of employers, they like these kind of employees because they stay longer at the company and reduce better work in the long run. Where do you live and where did it come in the list . And would you live in slough . I live in brixton, and i pay a lot of the mortgage so maybe i would live somewhere in the future where my money would go bit further 999 where my money would go bit further egg would go a bit further youre watching business live. Our top story. The british Prime Minister is hoping to address the brexit divorce bill during her speech in florence later on friday. And now lets take a look back at some of the weeks bigger stories. The Us Federal Reserve has confirmed it will start to unwind its massive asset purchase from next month as it left borrowing costs on hold. And Canadian Companies have much greater access to one of the Worlds Largest markets as a major trade deal between canada and the European Union enters into force. Could that mean good news for a post Brexit Britain . 0ur economics correspondent Andrew Walker is here. Welcome to the programme again. Good to have you back. Lets start with the federal reserve. Winding up that massive quantitative easing. Yes, they have bought a total of Something Like three and a half trillion dollars worth of financial assets, government bonds and bonds issued by agencies that support Housing Finance in the United States, and they are going to add long last start winding down. Theyre going to do it in the most extraordinarily cautious way. Against that 3. 5 trillion total assets they hold altogether, they hold 4. 5 assets they hold altogether, they hold 11. 5 trillion, they will sell off at 10 billion per month. They are not actually going to sell off, they are just are not actually going to sell off, they arejust going are not actually going to sell off, they are just going to allow these bonds to mature naturally. When you get the repayment, theres the question of what to do with the money and the fed has been reinvesting the money, and theyre going to cut down the amount they are reinvesting. I think market in the first instance are barely going to notice the difference. So when the bond matures, they will pay themselves . Strictly speaking, the us treasury or the Housing Finance agencies pays the fed, and then the fed then go and reinvest that money by buying more bonds that have been issued by the government. They have been very cautious about this and the Market Reaction now that has been confirmed . Frankly, the market knew what was going to happen so no reaction. I think thats what they wa nt to reaction. I think thats what they want to achieve, minimum possible reaction, i think they remember the taper tantrum in 2015 went 2013 when it was spoken about merely reducing the rate which the fed was buying. It is what all central bankers do, they give an enormous amount of warning before they do anything, they treat the market with kid gloves. Its striking the way it changed. If you think of alan greenspan, who did sometimes take the markets by surprise and i rather think there were occasions when he thought that was a useful thing to do. Thats not the way they work now at all. Lets talk about canada, theresa may was in canada, they have put the finishing touches to ceta, their trade agreement with the eu, there is hope that this is a trade agreement that once we have extracted from the eu, we could copy and paste. There are a couple of issues, one is whether that agreement would continue to apply with uk trade with canada after brexit, but the other thing could be it could be a model but tamim the uk and the remainder and the eu as a new trade model. Between the uk and the remainder of the fourth and the remainder of the eu. New trade model. Between the uk and the remainder of the eu. I think most people would tell you this is still not as closer relationship, not the same degree of regulatory relationship as you get as being pa rt relationship as you get as being part of the eu or the economic area which includes norway and a few others. As regards these Bilateral Agreements between big trading blocs, is this a high watermark . Is this the end of the phase . blocs, is this a high watermark . Is this the end of the phase . I do wonder, there is cert