Doubling the amount of money it has set aside this year. And this is how european markets have started their day. Well dive into these numbers in the next few minutes. And well be getting the inside track on excercising at home do you really need to go out to the gym, when you can do it all from the comfort of home . Theres an app for that. Today we want to know do really you need to spend pounds or dollars or euros to shed pounds at the gym . Is a run around or lifting weights at home better and cheaper . Let us know just use the hashtag bbcbizlive hello and welcome. Thanks forjoining us on business live. We start with the cost of borrowing because the worlds most powerful central bank the Us Federal Reserve has cut Interest Rates for the First Time Since the financial crisis more than a decade ago. Time since the financial crisis more the move disappointed Financial Markets not to mention President Trump. They wanted a bigger cut or at least a clear signal that more are to come. But the move is part of a global trend of falling borrowing costs from europe to asia to south america as the Economic Outlook grows more uncertain. The fed cut its main Interest Rate by a quarter of a percent toa range of2 to2 and a quarter percent. Chairman Jerome Powell citing signs of a global slowdown. Last week European Central bank chief mario draghi made it clear it they are going the same way with markets expecting a rate cut in september along with more stimulus measures today its the turn of the bank of england. Its not expected to cut today but markets are betting it will do so by december, amid rising risks of a no deal brexit. It wasnt so long ago their next move was expected to be up. Indias central bank was the first to cut rates it has now done it three times this year. The reserve bank of australia has cut at each of its last two meetings taking borrowing costs to a record low. And brazils central bank has also just cut its Interest Rates again to a record low. Ben. With us isjulian howard, head of Multi Asset Solutions at gam. Good to have you with this. With the cut, that was expected but the response was very counterintuitive, wasnt it . Markets fell, normally on an Interest Rate cut, they rise. Wasnt it . Markets fell, normally on an Interest Rate cut, they riseli think a lot of this was about the language that surrounded the cut, the market expecting this to be the beginning of a prolonged Interest Rate cutting cycle but mr powell made it clear that actually this was a mid cycle cut and effectively they would see what happens next in the market wanted more certainty that they were going to get this constant easing and so did mr trump. Weve seen the Ripple Effect around the world, the Us Federal Reserve starts signalling it may be going to cut rates, other banks follow suit, they almost have to. Yes, that is true but there is also a common factor here which is the World Economy is slowing down because of the trade war. That particularly affects emerging markets in europe which are tied into the Global Supply chain so there is a common factor here of easing around the world. Is there a danger of being too proactive rather than reactive when it comes to these things, generally banks cut rates in response to things that are happening in the World Economy, not necessarily for things that they think might happen in the future . think might happen in the future . think this is one of the criticisms that the Federal Reserve has become a slave to the market, the market throws a tantrum and says every time theres a bit of a slowdown in the economy, hey we want an Interest Rate economy, hey we want an Interest Rate cut economy, hey we want an Interest Rate cut so we can carry on growing and growing of the market reached record highs quite recently. The danger is if we cut too much the markets start getting frothy and we could get into bubble territory. Whats interesting, they are cutting rates again but Interest Rates never really recovered to the point they we re really recovered to the point they were at pre financial crisis a decade ago. Thats true and again one of the other criticisms is that there wont be room to cut if there isa there wont be room to cut if there is a genuine crisis. I mean, at the moment will be seen in america is a slowdown in industrial when you factor in, that tends not to pre stage a recession, for a recession you have to see consumer slowdown, when the consumers slows down the fed will need more ammunition and it doesnt have that much room. Julian, thank you. And for those who are fans of Central Bank Action we havent talked about the bank of england and their decision later but we will come to that later in the programme. Stay with us. Lets take a look at some of the other stories making the News Barclays has reported a pre tax profit of around 3. 7 billion for the first half of the year, down from libillion in the same period last year. It blames a challenging income environment and also one off accounting measures. The retail bank in the uk saw growing mortgage and deposit growth, but Profit Margins fell. Profits at Royal Dutch Shell have tumbled. In the Second Quarter the oil giant reported income of around 3billion, half the amount in the same period last year. It is blaming lower prices for oil, gas and other chemicals. Profits were also hit by write offs totalling 1i79m, mainly related to businesses in Trinidad And Tobago and australia. British airways is facing a possible summer of disruption after the airline lost its legal attempt to stop pilots from taking strike action, as part of a pay dispute. The Pilots Union Balpa says it is not announcing strike dates yet and will hold talks with ba for the rest of the week. Ba maintains a pay deal of 11. 5 per cent over three years is fair chinese billionaire Liu Zhongtian has been indicted in the us over allegations he evaded 1. 8bn in tariffs on aluminium imports. Prosecutors accuse mr liu of using the Aluminium Company he founded to smuggle huge amounts of the metal into the us. Mariko oi is in singapore. Good to see you. What more do we know about whats going on . A p pa re ntly know about whats going on . Apparently prosecutors say huge amounts of aluminium were disguised as pallets in order to avoid customs duties so thats rather creative, isnt it . It is to do with one of the earlier tariffs that the us imposed on steel and aluminium over a year ago if you remember. The trade war between the countries of course is ongoing and this indictment comes at a rather testing time as negotiators just wrapped up another round of high level talks without any meaningful progress. The company he founded did not respond when the bbc contacted them for comment but according to the wall streetjournal a comment but according to the wall street journal a warrant comment but according to the wall streetjournal a warrant has been drawn up for his arrest. Although he is believed to be in china which doesnt have an extradition treaty with the us so its highly unlikely he will get arrested in the us u nless he will get arrested in the us unless he visits in the movies rather symbolic but still, its very significant because it is believed to be one of the biggest tariff related cases that the us has brought. Thank you very much for that update from singapore. Lets look at the latest market movements. Equity investors were disappointed by what the fed chief Jerome Powell had or did not have to say about the prospect of more rate cuts. Some had hoped for a series of rate cuts to be flagged but they werent. That saw the dollar strengthen. Thats why the dow lost ground after the announcement, prompting stocks on the main asian indices to hit six week lows, even ifjapans nikkei got over it eventually. This is the picture here in europe with the trading day under way forjust over half an hour. Here in the uk, watching for the bank of englands announcement. No move expected today, but well be watching for clues about when it might. And Samira Hussain has the details of whats ahead on wall street today. Us car maker General Motors will report earnings on thursday, several other car makers have reported weak results so many analysts will be looking closely at what the number one automobile maker will say. New vehicle sales in the United States and china, the world is largest car markets have been falling. Investors will be keen to hear what gm has to say about future vehicle car sales for both the company and the Auto Industry as a whole. Also reporting earnings on thursday as the global grain trader, earnings will likely be hit by the ongoing trade war with china and severe us weather along with shipping delays and other supply uncertainties. Joining us is Jeremy Thomson cook, founder, complete currency consulting jeremy, we were nodding toward the bank of england was going and is going to decide, numb and expecting movement. Not at all today, the bank of england dry to stay away from cutting Interest Rates until the outlook for brexit is looking a little bit more certain, god knows when that is going to happen but in the short term the bank of england will probably outline its options and continue to say it remains vigilant and dry to continue to communicate to businesses and consumers in the uk that should the worst come to the worse they will step in and try and help the uk economy. What else is in the mind of european investors . The fed took up a lot of time yesterday, continues to have an effect on market as we see this morning, chinese manufacturing numbers overnight, as much as we can talk about the Federal Reserve and the impact of the trade war, its Federal Reserve and the impact of the trade war, its continuing to her things, chinese manufacturing stabilising a little over the course ofjuly, we saw the trade talks break down between the us and china and they are not due to resume until september so in the short term, in august, august is always a funny month for the market as everyone goes away so things may quieten down and by the end of the month people will talk a lot more about trade and for that we start to see constructive talks lead to anything positive. Its also the month when Little Movement or a little bit of trade can trigger big movements. Absolutely. Liquidity is low so not many people are trading, a big headline comes out, another trump tweet, you know, borisjohnson decision or anything similar, and you can see an outsized move over the course of a trading day and that can be in stocks, bonds, and obviously on the pound recently. Jeremy, thank you, we will see you later to go through the papers and a big story about brexit Contingency Planning, thats coming up a little later. Still to come do you really need to go to the gym . And well be getting the inside track on the home excersise app thats aimed at people who are too busy to join a gym. Youre with business live from bbc news. Only half of the food we consumed in the uk in 2017 was produced here. The rest imported with 30 of the imported food coming from the eu. But one exception is peas. Ben is live at birds eyes 24 7 operation in hull giving peace a chance laughter the farm is busy here this morning. They have been harvesting and it is a2047 they have been harvesting and it is a 20 47 operation, to get these things out of the ground you might be able to make out some of the keys that are harvested, they have eight weeks to harvest everything. Eight weeks to harvest everything. Eight weeks to harvest everything. Eight weeks to last us for the entire year, that in itself raises lots of questions about food security, not least because brexit and the warnings about border cues. With me is james whose job it is to make sure this runs smoothly. Great to see you. Talk through the operation, a bit ofa see you. Talk through the operation, a bit of a lull, the pickers are at the other side but its a really important time for you. It is, thats right, weve got one chance to get the crop right and quality right. This we see is a culmination ofa right. This we see is a culmination of a year s right. This we see is a culmination of a year 5 worth of hard work and collaboration with farmers and lots of detailed planning. Its on a massive scale, we have 10,000 hectares of peas and they have to be harvested in the peak period. There is no second chance, we have to get it right. And it is a bit of a lull, actually, but as you saw earlier, the logistics here are quite complicated and big scale. Because we have to get the peas, as soon as they are picked from the plant they have to be in hold and frozen within two and a half hours. We talk about stuff being stuck in the poor that might be imported but for you its about exports, those vegetables being sold overseas. What we do here will keep us going for the uk birds eye peas all year but we are a european business, we have brands and businesses in other countries. A good example is peas, thats right, we grow all the peas here, suppliers in the uk but the italian brand love the vegetables here, the quality fantastic, the discerning palate in italy, they prefer these so we export a lot over there. James, good to see you and thank you for having a seer. There you have it, really important time for them right now to get the stuff out of the ground. Youre watching business live our top story the Us Central Bank cuts rates for the first time in more than a decade heralding Lower Borrowing costs around the world. The markets and President Trump wanted a bigger cut. A quick look at how the markets are faring bit of a mixed picture, you can see how stocks and shares are. A lot of attention on the bank of england Interest Rate decision. Not expecting any movement on Interest Rates in the uk. Now, have you ever promised yourself to take more exercise but somehow never get around to it . If so, youre not alone. Thats a rather pointed question, thank you a recent poll in the uk alone found that around libillion is wasted every year on unused gym memberships. Not dry to cast aspersions, i would probably be more in that category than you between workplace demands, domestic chores and everything else, there can often be little time for many people to go to the gym. This is the market that uk based fiit comes in. Its a fitness app that connects to your tv and allows subscribers to choose from a variety of exercise classes taught by top workout instructors. It started in 2017 and the start up has already raised around 9 million. With us is daniel shellard, chief executive of fiit. Home workouts have been with us since the 80s, who was the famous vhs aerobics jane fonda. The jane fonda work out. So what are you doing this different . There is an evolution happening now, you are connecting hardware and software together to make the experience more social, and came like, you can take a class with one of your friends anywhere in the country together in real time. That already exists in other forms, palatine, real time. That already exists in otherforms, palatine, for real time. That already exists in other forms, palatine, for example and other competitors, theyve already got this do it from home but with a social encouragement network. Thats right. Peloton has been extremely successful. The hardware is quite expensive to buy. What we look at is providing a piece of hardware thats affordable, comes free with a subscription, people can get up and running really quickly. Incredibly crowded sector as weve mentioned, you have so many social Media Influencers who are kind of cornering this market for themselves, monetising it, how do you make yourself stand out . Theres a new category involving alto fitness, interactive fitness, this isa fitness, interactive fitness, this is a combination of hardware and softwa re is a combination of hardware and software that allows a social game if id experience, it is a relatively new market, peloton had been very successful but the direction of travel in the fitness market, we believe, evidence so far it suggests people dontjust have unused memberships, they use it quite often. A lot of social Media Influencers involved but if i was signing up, whats to say the social media stars know anything about fitness and exercise and whats safe and whats going to work . Good question. From our perspective the number one priority is making sure we give them the best advice, to the consumers. We go through a long audition process, we have 200 applications for every trainer that comes on board, we have some of the top fitness experts in london helping assess the quality of all of our trainers and that means we can give the best advice to the consumer. On the subject of safety, do you have to adapt the workouts that you have on your platform to suit people because my comes, we dont all have the space to do a big energetic work out, i know an occasion ive tried, ive tripped over at various things including stuff that i dont actually use. Everything can be done on a regular sized yoga mat and you dont need any equipment