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 changi