The trade implications. Scotlands only Oil Refinery is to close with a cost of 400 jobs the Unite Union calls it an act of industrial vandalism. And Credit Crunch why are so many Women Led bUsinesses cancelling Expansion Plans because they are unable to access finance . Well speak to one big bank trying to address that. Live from london, this is bUsiness today. Im mark lobel. The Aircraft Maker Boeing is awaiting news from its workforce on whether its accepted a four Year Pay Deal which could lead to a walkout of up to 33,000 workers. The deal 25 over four years has been backed by the workers� iam union, but many employees are not happy with the terms. A result� s expected very shortly and could lead to Strike Action in the coming hours. That would affect production of the companys 737 and 737 max aircraft. Heres our Usiness'>North America BUsiness correspondent ritika gupta. Breaking news on the subject. Boeing workers have voted to strike after rejecting a Pay Offer backed by their own union. The international Commercial Aircraft has association of machinists and recove the international union. The international association of machinists and aerospace workers. As we said, aerospace workers. As we said, the deal, a 25 Pay Rise fell the deal, a 25 Pay Rise fell short of the original target of short of the original target of 40 with the Pay Offer 40 with the Pay Offer affecting 33,000 workers. Affecting 33,000 workers. Strike or close assembly Plants Strike or close Assembly Plants for the 737 max, 737 max and for the 737 max, 737 max and triple seven further hampering triple seven further hampering the Companys Turnaround the compa ny� s turnaround efforts. Recovered the Companys Turnaround the compa ny� s turnaround efforts. Lets cross live now lets cross live now to russ mould, investment to russ mould, Investment Director at aj bell. Director at aj bell. The vote has come in and they the vote has come in and they have voted to strike. find have voted to strike. find the vote has come in and they the vote has come in and they have voted to strike. Have voted to strike. And they seem to have have voted to strike. Have voted to strike. And they seem to have have voted to strike. And they seem to have voted have voted to strike. And they seem to have voted seem to have voted overwhelmingly to do so as seem to have voted overwhelmingly to do so as well. I guess the union could well. I guess the union could argue it has a strong position argue it has a strong position at the moment on employment in at the moment on employment in the us, though its rising it the us, though its rising it is still low and demand for is still low and demand for Commercial Aircraft has Commercial Aircraft has recovered strongly after the Pandemic And Boeing still has a huge backlog of more than 5000 aircraft, with over 500 billion, to try to deliver and very and a very unhappy customers are waiting for those planes so these people have a strong position and have decided to use it. Strong position and have decided to use it. 9696 backing it. How decided to use it. 9696 backing it how will decided to use it. 9696 backing it. How will it decided to use it. 9696 backing it. How will it affect it. How will it affect production . It. How will it affect production . It. How will it affect roduction . , production . Clearly it will be a massive production . Clearly it will be a massive Complication Production . Clearly it will be a massive complication with | production . Clearly it will be i a massive complication with the company already having to work hard to getjust 40 aircraft per month out of the door which is well below what it has hoped to achieve and again, a huge backlog is there with a lot of airlines unhappy they have not received their aircraft. Ryanair is one of them. The company is facing all sorts of complications with safety lawsuits, lawsuits from shareholders, potentially unhappy customers and now the potential setback for further volume deliveries at a time when it is already losing money and you is a huge amount of debt. And you is a huge amount of debt. , debt. Kelly ortberg the incoming debt. Kelly ortberg the incoming ceo debt. Kelly ortberg the incoming ceo recently| debt. Kelly ortberg the incoming ceo recently promised to reset relations, taking office last month, with the workers. How does it look for him . ,. ,. ,. , him . He is clearly going to be extremely him . He is clearly going to be extremely disappointed. Him . He is clearly going to be extremely disappointed. He i him . He is clearly going to be l extremely disappointed. He has always been begging the unions to accept the Pay Rise. The promise of Commercial Aircraft in washington. Now he will probably have to go back to the Negotiating Table and offer more money which increases boeings costs when it hasnt made a profit since 2019 and analyst say it isnt expected until 2025. Iii analyst say it isnt expected until 2025. Until 2025. If listed many problems until 2025. If listed many problems they until 2025. If listed many problems they faced until 2025. If listed many problems they faced and | until2025. If listed many i problems they faced and we until2025. If listed many problems they faced and we are talking almost every week or every couple of weeks about them on this programme. How does this affect people . And they book flights they booked through an airline so our people now starting to check which aircraft the airline is Using . Which aircraft the airline is Usin . � ,. , which aircraft the airline is Usin. . � ,. , which aircraft the airline is Usinu . � ,. ,. , which aircraft the airline is Usinu . � ,. ,. ,. Using . Its a good question and i confess Using . Its a good question and i confess i Using . Its a good question and i confess i didnt Using . Its a good question and i confess i didnt when Using . Its a good question and i confess i didnt when i Using . Its a good question and i confess i didnt when i flew i i confess i didnt when i flew over the summer but you could understand why they would do so, especially after the latest problem with the alaskan Airlines Flight when the door blew Off InjanuaryAirlines Flight when the door blew off in january so Airlines Flight when the door blew Off Injanuary so you would understand it. You are hearing about airlines like ryanair saying we want to get these aircraft and we havent got them and are having to potentially cancel flights and as a result the prices may be higher than previously because of their lack of capacity so some customers will fill the impact perhaps in a less direct way. Impact perhaps in a less direct wa. , ~ impact perhaps in a less direct wa. , ~ y impact perhaps in a less direct wa. , ~ ,. Impact perhaps in a less direct wa. ,. , way. Thank you very much for oininu way. Thank you very much for joining us. Way. Thank you very much for joining us, russ, way. Thank you very much for joining us, russ, and way. Thank you very much forj joining us, russ, and reacting to that breaking news. Just to remind our viewers, Boeing Workers have voted to strike after rejecting a Pay Offer backed by their own union, the behaviour of 25 over four years falling short of their target of 40 the Pay Offer. That will affect Boeings Ability to get out 737 max and 777 plains. Two other news now. Trump but this is a classical bilateral look with the president at security and it will be framed in the sense of the green transition other countries would do with that. Would meet with. You have the Inflation Reduction Act in the Inflation Reduction Act in the us and the green transition is a big Issue Force Keir starmer so i think it is the lines of economic discussion you will see with bilateral trade particularly with an upcoming election in the us is probably off the table with free Trade Agreement discussions. Free Trade Agreement discussions. ,. , discussions. Turning to trade in a second discussions. Turning to trade in a second but discussions. Turning to trade in a second but on discussions. Turning to trade in a second but on the discussions. Turning to trade in a second but on The Point| in a second but on The Point about the green transition and repairing foreign relations, they are where things are warm and relations are strong. Presumably, china remains a point of contention and how close country should be would not be mentioned, or will it, Behind Closed Doors . Potentially Behind Closed Doors but i think actually Keir Starmer has not made clear what his approach to china will be. There is always an Expectation And Hope in washington, whether you are President Biden or President Trump to have uk take a stronger and pro us line on trying to workjobs that china and Keir Starmer has not made his use clear. We know the Chancellor Rachel reeves has that she welcomes China Trade so looking at where areas of mutual cooperation and economic Security Light but i think the us and uk dont always see i do i have an absolutely unintelligible approach when it comes to that. Unintelligible approach when it comes to that. Looking forward to uk us comes to that. Looking forward to uk us trade comes to that. Looking forward to uk us Trade Relationship to uk us Trade Relationship from 2025 onward, would you expect to see very big differences depending on which of those candidates, Ella Harris or former President Trump, Go On to win and become president . President . President Kamala Harris would president . President Kamala Harris would seek president . President Kamala Harris would seek continuity | harris would seek continuity from where we are, though harris would seek continuity from where we are, thouthoe biden wasnt a big fan of classical Trade Agreements but President Trump would be committed to exploring a Trade Agreement with the uk, potentially in return for not applying this tariff across the Board Increase of tariffs across the board to the uk and it may actually leave Keir Starmer in a slightly invidious position of having to choose between a free Trade Deal or having tariffs applied to its import from the us. We are Exoecting Import from the us. We are exoecting to import from the us. We are expecting to see import from the us. We are expecting to see press expecting to see Press Conferences and hear from expecting to see Press Conferences and hearfrom Keir Starmer about his visit. Did you think you will use it as an opportunity to show he is trying to grow the Uk Economy with global allies because so far, he has struck more of a sober tone here in the uk about tax rises ahead of the october budget. I tax rises ahead of the october budaet. ~ , tax rises ahead of the october budaet. ~. Budget. I think it is classic forei. N budget. I think it is classic foreign policy budget. I think it is classic foreign policy tending budget. I think it is classic foreign policy tending to l budget. I think it is classicl foreign policy tending to be budget. I think it is classic. Foreign policy tending to be a slight distraction from some of the economic storms at home and obviously this is an opportunity to highlight the uks reset and Reconnecting Britain as labour put it in its election before the manifesto before the election. This is the second visit to washington from Keir Starmer to Seejoe Biden as president so it is a hopeful deflection from economic storms bring it home. Allie through, allie, thank you so much for joining us here in the programme. Scotlands only Oil Refinery will close next year with 400 jobs set to be cut. Petroineos, the owners of the Grangemouth Plant on the firth of forth, confirmed the company would transform the site into a terminal for importing rather than refining. The Unite Union called the closure an act of industrial vandalism. 0ur Scotland EditorJames Cook reports. Grangemouth has been refining the fuels for a Century Grangemouth has been Refining Fuels for a century but its now losing thousands of pounds a day, struggling with declining demand for Petrol And Diesel as the world begins to shift to renewable energy. And so, the site is going to import petrol, Diesel And Aviation fuel instead of making them, and that will mean at least 400 job losses. Well, theres a realfear and real anger amongst the workforce and amongst the community here. This is the first test of a just transition in this country and its failed miserably. Its been failed by the company, and the people have been failed by the politicians. This could be economic and industrial vandalism on the biggest Scale Weve seen and this town could be decimated if we do not do something about it. Ministers here in edinburgh and in london say theyre investing £100 million in the local economy and exploring longer term options for the site. There will be investment in the sites long term future. The scottish government and the united Kingdom Government have both jointly funded the Project Willow Study that has identified a shortlist of credible options to begin the building of a new long Term Industry at the refinery site, including low Carbon Hydrogen clean e fuels and sustainable aviation fuel. But even if Project Willow works out, those jobs are years away cold comfort for staff being laid off in the coming months. Well, i dont accept for a second that were losing any of those skilled workers. Yes, this is really disappointing for them, also because theyve had the not knowing, the uncertainty for such a long time with this refinery its been over ten years of roller coaster. I think what were doing is making sure that those Skills Transfer into some of the green energyjobs of The Future. In public, bosses and workers here are divided about the necessity of closing this refinery but in private, they are united in accUsing politicians of failing to deliver a just transition. James cook, bbc news, grangemouth. New figures show nearly one in five of women owned or led bUsiness have either delayed or cancelled bUsiness plans due to not b