Committed to quitting the eu by and the global stocks are rising on 0ctober committed to quitting the eu by october 31st. But is there trouble hopes of fresh stimulus and a better round of trade talks. Also on the ahead on but is there trouble ahead on the tory backbenches . Programme, the inside track of bringing upa programme, the inside track of bringing up a baby and why the stuff you can buy, from buggies to bags, can burna you can buy, from buggies to bags, can burn a serious hole in your bank balance and that is just the beginning, i know from experience, and wed also like to know how you are coping in the heat. Have you changed your work patterns or routine this week and what are your top tips for staying cool . Share them please, use the hashtag bbcbizlive. Hello and welcome to business live. We bring you some pretty breaking news, major news. The japanese car maker nissan has just reported its latest earnings and its not good news. Heres what we know so far. Nissan says its quarterly net profit has fallen nearly 95 to 11. 9 million. And it will reduce its Global Production capacity by 10 by the end of 2022. The car maker said it was cutting 12,500 jobs worldwide. The cuts include 4,800 announced in may, impacting us, mexico and europe. Workers at nissans sunderland plant are facing uncertainty due to brexit. Nissan is trying to recover from a scandal surrounding ousted chairman carlos ghosn. Theo leggettjoins me now. Pa rt part of our team here at the bbc business unit. You have been looking at the numbers, you just ran from watching the press conference, this is worse than we thought, isnt it . Yes, nissans profits had taken an absolute battering, and the net income is down 94. 5 . At the same time, nissan has been embroiled in scandal, internal politics, it is trying to become more profitable again but it has a really big challenge on its hands. Just talk us through some of the challenges, victoria mentioned carlos ghosn, this iconic leader in the global car industry and when he was arrested, it was a massive shock for all of us but since then, it would seem, for nissan, renault and the mitsubishi story, it has gone from bad to worse. You have to look at this in two ways, one is the corporate scandal involving carlos ghosn and the other is the performance of the company and as you rightly say, its relationship with renault and mitsubishi, the other members of this global alliance, and one thing thatis this global alliance, and one thing that is very clear, then nissan sales have been falling, down more than 6 , falling in key markets, particularly the united states, despite a fair level of discounting, nissan has been trying to bring the prices up in order to boost profits but it has a fairly old model range, so but it has a fairly old model range, so this morning they are saying the company will go back to basics, it will cut costs. That means 12,500 job cuts worldwide and 1a of its sites will have reduced capacity will be closed altogether, we dont know which ones those are obvious, so know which ones those are obvious, 03 know which ones those are obvious, so a big picture of squeezing things down and if you look at the capacity being used in the factories, you can see why. 69 capacity using its factories worldwide, it with the exception of china, where usage is a bit greater. So there is overcapacity, nissan has too much space, its costs are too high and it needs to cut back. And just briefly, where the jobs will go, we dont know yet but it is likely to be the european production lines. Dont know yet but it is likely to be the european production linesm could be europe, could be some south america as well, we will have to wait and see what the chief executive says. Thank you very much indeed, that is the latest from nissan, literally coming across the wires in the last 20 minutes. More details on our website as well. Lets take a look at some of the other stories making the news. Nissan are the only ones struggling at the moment. Are not the only ones. Boeing is warning that it might have to halt production of the 737 max if grounding continues much longer. The Company Reported its la rgest ever quarterly loss of 3 billion on wednesday because of the troubled aeroplane. If hurdles with regulators worldwide continue, boeing said it would consider reducing or shutting down production of the 737 max entirely. Shares of tesla have slumped more than 11 in after hours trading after the electric car maker missed its financial targets for the Second Quarter. Revenues were up almost 59 and it delivered a Record Number of vehicles but losses were steeper than expected. Ceo elon musk has also rowed back further on his promises to become profitable this year. Profits at ford slumped 86 in the three months tojune hit by a 1. 2 billion bill for restructuring. The us car giant said last month it will cut 12,000 jobs and close five plants as well as cutting shifts at factories in europe. Facebook may be facing growing pressure from regulators over the way it runs its business but that doesnt seem to be putting off users or advertisers. The worlds Biggest Social Network got a big like from investors on wednesday after a strong set of results with shares jumping in after hours trade. Lets show you the details. Facebook made revenues ofjust under 16. 9 billion in the three months tojune 400 million more than expected. Thats up 28 on this time last year. The number of people using its Services Including instagram, whatsapp and messenger at least once a month hit a new record of 2. 41 billion people, up 8 on this time last year. Those numbers come despite the storm of controversy around the company. On wednesday, the federal trade commission confirmed that facebook has accepted a record £5 billion fine for privacy violations involving the Data Collection firm Cambridge Analytica. Jai kotecha, head of social and content at 0gilvy uk, is with me now. Good morning. You have had a look at the numbers, what you make of them . It is no surprise that the results are good. If we look at their share prices over the last year, they have gone up prices over the last year, they have gone up over prices over the last year, they have gone up over 54 so they continue to grow, and one key metric is having a look at their daily active users. The number of people using their platform every day continues to grow and that is really thanks to instagram. How long will that last for . Victoria mentioning the fact that they have confirmed they are pa rt that they have confirmed they are part of the anti trust probe by us regulators to see if they are stifling competition, they havejust paid a pretty substantial fine for misuse of users data with the Cambridge Analytica scandal. What does the future look like for facebook . So, they change as an organisation and they announced they are trying to launch a crypto currency in 2020, so that means people will be able to make transactions using whatsapp and Facebook Messenger and that becomes really interesting because you look at 1. 7 billion people in the world that dont have bank accounts. That might never happen, you have central bankers, president s, governments, all regulators saying for very good reasons why they are not happy about libra and its concept. Thats right, and it is something facebook are pushing for but they have diversified what they do in terms of their offerings, so they have facebook portal, they have increased theirarand vr facebook portal, they have increased their ar and Vr Technology so they are changing as an organisation. They are changing but they are changing faster than lots of the regulators and Central Banks are able to deal and come up with rules for the companies, so it throws up questions about how you manage Companies Like facebook these days. And if you look at yesterday, they will find five billion dollars for data breaches and to put it in perspective, that is 9 of their 2018 revenue and 23 of their profit, so they have really been stung but they have said they are changing and are being forced to change so they will have an independent board looking after privacy and Mark Zuckerberg will be personally liable for any issues they have in the future. We will keep an eye, thank you for your time. Samsung has said first foldable smartphone will now go on sale in september after problems with the device delayed its initial release. Sharanjit leyl is in singapore. Tell us more about the samsung phone. I can tell you it costs about 2000, it is called the galaxy fold. It was meant to be launched in april but it was postponed after early view reported broken screens and the firm has been racing to launch a folding smartphone before its rivals but it says it has made improvements to the phone and it will be sold in select markets. Some of these improvements in things like a protective layer to make it clear. It is not meant to be removed. They have also strengthened the hinge area of the phone with new protection caps. 0ne area of the phone with new protection caps. One explanation for the broken screens appears to be that some reviewers removed the film that some reviewers removed the film that they thought was the typical protective layer that you usually get with the phones when you first buy them, so devices have been fixed but a huge embarrassment for samsung, which has seen declining smartphone sales, facing lots of competition from rivals, including chinas mike ellery. A 2000 phone lets have a look at the stocks. Stocks remain well supported on the twin engines for equities in 2019 stimulus and trade. A resumption in trade talks between the us and china is being greeted warmly by investors. That confirms what people were thinking about the g20 meeting. While ford and tesla fell on disappointing results. 0il clawed back some of its losses this week. 0ver over in europe, it is the European Central bank day today. And the market is betting increasingly on the boss mario draghi announcing a cut to rates and perhaps signal qe. And perhaps, we will have to see. Expectations for a july cut rose yesterday as the german manufacturing data came in very weak and signalled the risks of recession in the eurozone should the ecb not act. And michelle has the details of whats ahead on wall street today. The focus on the big american tech giants continues this thursday. Googles Parent Company alphabet reported Second Quarter profits and a Strong Performance from youtube and its Cloud Business should boost revenue. Investors also want to know what the company is doing to keep a lid on googles expenses and if it will say anything about the us justice departments anti trust investigation. 0ver justice departments anti trust investigation. Over at amazon, soaring demand for its Cloud Business, the Tech Infrastructure thatis business, the Tech Infrastructure that is used by many businesses, it continues to contribute to the bottom line. The wells Biggest Online retailer is expected to post Strong Revenue for the Second Quarter. And healthy travel demand should help airlines mitigate some of the impact of a prolonged grounding of boeing 737 max jets. They are the two us airlines with the largest 737 max fleets. That is michelle, of course and itjust underlies how busy it is. Joining us is richard hunter, head of markets at interactive investor. Lots of earnings and we have mentioned at the European Central bank, your thoughts on the ecb today . We have just been hearing from victoria about the german manufacturing data and of course, thatis manufacturing data and of course, that is very much the power within the European Union so they are clearly in trouble, but at least we are not speaking like a couple of yea rs are not speaking like a couple of years ago about debt anymore, it is just that growth hasnt materialised soi just that growth hasnt materialised so i think the large expectation todayis so i think the large expectation today is that some easing will be announced, not to take effect immediately, in september but that shouldst sue some investor concerns in the euro zone. A lot of the news coming out from the us in terms of earning seems to be negative when we talk about the big companies, ford and tesla for example, but they have not all been bad, or have they . Far from it. 80 of Companies Reported so far have beaten expectations. Having said all that, we get this on a quarterly basis from the states and the couple of weeks leading up to the reporting season, companies very much move their guidance down and then outperform but. Is that cheating . At the start of this week, we are through the snp 500 reporting by quarter, incredibly busy and next week, we will have a very good idea of how Us Incorporated is performing. And what will that mean forjerome powell, and his team, who have their meeting at the end of july . These are the two things that feed into each other, how companies are doing on the ground and some of the weaker economic such as manufacturing data coming out of the states. So i think the general thought is there will be a rate cut, it is just whether it is a quarter ora 0. 5 , but it is just whether it is a quarter or a 0. 5 , but the reason they are probably doing it at the moment, it is not normally a bedfellow with the us markets at record highs, but the reason they are doing at this particular moment is to stave off any possibility of a recession early next year. All right, thank you for now. Richard will return later. We will talk about the heat. Are you struggling to i have a fan about three feet from my face 0k, richard and his fans, all of those coming a little later. Still to come bringing up a baby with style and with a big hole in your bank balance. We look at the burgeoning baby market and ask why were spending such a big chunk of our pay packet on our babes. Youre with business live from bbc news. Now, if we are honest, we may all be guilty of throwing away food as consumers but did you know that millions of tonnes are binned before the products even reach our plate . So how can the waste be reduced . 0ur Consumer Affairs correspondent Colletta Smith is at a farm near ross on wye for us this morning. Collector, what can be done . Colleta. It is a big issue for farmers, for the first time, a process issue, it has been worked out that 3. 6 Million Tonnes is wasted on our farms every year, so it doesnt get beyond the harvesting stage. I am it doesnt get beyond the harvesting stage. Iam here it doesnt get beyond the harvesting stage. I am here at Windmill Hill fruit farms, anthony is in charge back there, he is working hard, picking his strawberries already from the early doors, they are working hard to reduce the amount of food waste, so these whopping strobes will be picked and end up today in there little planets that will end up at a supermarket shelf tomorrow, they have freezers here so any other fruit ends up being juiced or put into a puree at some later date, so very little food waste coming from here, so it is a really good example of a farmer doing something proactive to try and reduce food waste. Stewart is from the nfu, what happens if you dont have a freezer, it is difficult for other types of farmers. For other products, it can be slightly more challenging than anthony has here but lets be honest, there is not a single farmer in the country who wants to waste any food and the key issue for me is making sure that retailers, processors and farmers all Work Together to minimise the food waste that we have on the farm. Thank you very much forjoining us this morning, it is worth remembering that twice the amount of food waste is left to rot on farms and ends up in compost bins in our own homes, so, as consumers, we are the ones who perhaps need to be doing more to try and reduce food waste but it is an issue for farms, too. It certainly is. Colleta, very much. I wonder how many she has eaten this morning. I would i wonder how many she has eaten this morning. Iwould be i wonder how many she has eaten this morning. I would be very tempted. That is one way of reducing food waste. The earnings for diageo were out this morning, we spoke to the boss, you can read all about it there. Youre watching business live our top story. Nissan has announced a collapse in profits and majorjob losses around the world. Something like 12,500 jobs are to go. We dont know whether locations are yet but do keep a close eye on our website on bbc news, radio, tv, we will keep you up to date. Lets show you the financial markets, a really busy time because there are so many earnings stories to digests. Too many for us to tell you but the details are on the businesslike page. Now, lets get the inside track on bringing up a baby. Not all of it, but just track on bringing up a baby. Not all of it, butjust the beginning. Apparently, you can do this with style. We only have four minutes to talk about it, but the baby care product sector is huge, including nappies, wipes, feeding accessories, it is estimated to be 73 worldwide. That is estimated to rise by 109 billion in 2026. Analysis shows the first year of a childs live cost as much as 21,000, and that is with a Household Income of 40,000. That is more than half of your income going on bringing up a baby. 0ne bit of kit that is essential when you are on the movie is something to put all the stuffing, something to put all the stuffing, some kind of change bag but a p pa re ntly some kind of change bag but apparently it can be more than just apparently it can be more than just a carrier bag, you can look a bit stylish doing it, too. Dominique hughes, co founder ofjem bea, is with us now. She has brought a couple of bags that you and your co founder have created. They look stunning, they look very good quality, tell us more about these bags. So our usp is we wa nted about these bags. So our usp is we wanted to create bags that didnt look like changing bags, that look like beautiful handbags and my Business Partner used to design for mulberry so we had a big focus on making the bags look beautiful. This isa making the bags look beautiful. This is a real leather book and bag and a unisex bag so mums and dads like to wear this and it is a sustainable bag made from reclaimed fishing nets from the sea and we just wanted to make people make more conscious decisions for sustainability and what better way than when you are buying the next product for your baby and the next generation . I research this and people tend to underestimate the cost of bringing up a baby, people spend a fortune in the first year alone, the cot and the pram, etc, so why spend more money on an expensive handbag when, frankly, any old bag will do . These are made to last, they are investment pieces. I got through three baby bags in three yea rs, through three baby bags in three years, these are high quality and we make sure every is real quality and they then go beyond the baby years, so your changing mat pocket will turn into a laptop pocket, the insulated pocket will keep the milk warm and that your water bottle call and they will last beyond the years you use them for your baby. The proof is in the selling, are you selling many . The growth has been amazing over the last five years and we are continuing to grow globally, more so in america and australia. How have you managed to sell them . When you already have a Similar Company that makes very high quality baby bags that are custom made, with all of the cooling bits and the various changing mats, for men and women, so how have you managed to see your sales grow . We use social media a lot, we use influencers, we we re media a lot, we use influencers, we were picked up by Huge Department store because the buyer had seen us through that way and we sell our products through trade all over the world. And you did this, you are almost qualified as a lawyer and then fell pregnant. How have you managed raising three children you have now and running this business at the same time . And you regret that you didnt end up going down the law rude . No, because im doing something i love and i am passionate about but it is hard at work, there is no time off so you are always on call for the job, is no time off so you are always on call for thejob, but we is no time off so you are always on call for the job, but we love what we do, so no regrets at all but it has been really hard work. Has it been a problem ever, thejungle . Has been really hard work. Has it been a problem ever, the jungle . Yes and no juggle. Been a problem ever, the jungle . Yes and no juggle. Ijust been a problem ever, the jungle . Yes and no juggle. Ijust call and help whenever i can and Flexible Working is fantastic and everyone who works for us and with us has the same ethos. Well, we have met alfred. He is sitting on the green room. That isjuggling, i couldnt find anyone to look after him we have all been there. Thank you very much for coming in. We will have a look through the business pages and a second but here is a reminder of how to get in touch. Stay up to date with all of the days Business News as it happens on the bbcs businesslike page. There is insight and analysis from our tea m is insight and analysis from our team of editors around the globe and we wa nt team of editors around the globe and we want to hear from you. Get involved on the bbcs businesslike web page. 0n involved on the bbcs businesslike web page. On twitter, we are bbcbusiness. 0n web page. On twitter, we are bbcbusiness. On tv and online, what you need to know, when you need to know. So, lets take a look at some of the stories out there and we are focusing in particular on this issue of the extreme heat in europe. In the uk, it is going to be the hottest temperature on record for this time of year but elsewhere, across europe, people are experiencing extremely high temperatures. Richard hunter is back, as promised. So, richard, what are you doing to prepare, are you finding colleagues are staying away from work and companies have made decisions about adapting to these temperatures . I heard of one Friends Company yesterday, basically, the staff had been told to stay at a time and work from home today, so they are taking a sort of pre active view on this, because obviously we werent sure exactly how the trains will be running this morning. It is almost dangerous to be on the tube in london, so i think firms have taken a practical view. |j came into work last night, i am not going to go home today because the trains are all going to be delayed, the lines are going to buckle, so it is certainly affecting me. We have had some tweets from various people, someone somewhere, had some tweets from various people, someone somewhere, that is their twitter handle, saying i am in africa laughing at you lot, lots of people saying it is winter elsewhere and, come on, there is heat of the country so why is europe ground to a standstill . Fair enough. I standstill . Fairenough. Iam standstill . Fair enough. I am trying to find them, keep going, victoria. Here we 90, them, keep going, victoria. Here we go, iam them, keep going, victoria. Here we go, i am in. Them, keep going, victoria. Here we go, iam in. I have been hearing from other viewers who have been giving as their top tips. 0ne tip that has been coming in from many of you is a bowl of ice in front of a fan. The fan blows the cold air. Your top tips. Socks in the freezer, you put cold socks on. I am not kidding, that is on bbc online. Another thing in the freezer, a hot water filled with bottle, not to the top, in the freezer and you freeze it and then you have a cold water bottle and put it in bed and you have nice cool sheet and a cool pillow. And, like you say, dont overfill it because it might expand and explode in yourfreezer. Overfill it because it might expand and explode in your freezerlj overfill it because it might expand and explode in your freezer. I have got here, the most effective change i have made in the heat is my attitude. It truly isnt so bad when you get used to it. It depends where you are. If you are on the underground in london. They are actually saying that parts of france at the moment are currently hotter than death valley. So that is some perspective. There we go. That is businesslike, see you soon. Good morning. Today is the date that we could well reach the highest recorded temperature in the uk, the magic number, the existing record, is 38. 5 celsius, recorded in august 2003 in kent. Today, we are likely to see 39 celsius just to the west of london, around northolt and heathrow, that sort of area but quite widely across the Greater London area into cambridgeshire, those temperatures will get into about 38 celsius, so we will keep an eye on that this afternoon. Lots of sunshine there today, a bit of code for northern ireland, the north and west of scotland, perhaps one or two showers, and later on, some shows developing across wales and North Western parts of england but it is all about the temperatures. Away from the south east, widely up into the 30s for england that way is, even into the high 20s for Central Scotland and a little bit rich of northern ireland, here temperatures are around 21 24. Through tonight, storms will develop in north wales, northern england, up into scotland, eastern areas of england also seeing some showers and thunderstorms into the early part of friday morning, so they could be a bit of a show tonight with that lightning. Perhaps not quite as widespread as it was on tuesday night but certainly some isolated severe storms moving their way northwards and a warm, sticky night to come. Temperatures no lower than about a 16 20 or 21 celsius. If you are not a fan of the heat, friday is that day with a heat wave will break down, fresher conditions coming in from the west, it will change with the wind is coming from and with the south westerly wind, temperatures will come down. Some cloud, a few showers moving their way eastward throughout friday, plenty of dry weather and there will be some sunny spells throughout friday the temperatures will be nowhere near as high. About 21 25dc. Perhaps up to 28, 30 degrees and the far east of england but certainly not as hot as today. Into the weekend, this weather system, this is where the front sticker and across northern and eastern areas across saturday and eastern areas across saturday and it is likely to be wet for northern and eastern parts. Towards wales in the south west of england on friday is dry, temperatures in the high teens to the low 20s. We will keep those temperatures on sunday when northern and eastern areas will have some rain and a bit drier further south and west. That 00 28 38,990 4294966103 13 29,430 is all from me. Goodbye