Little lower, in europe this week. We will talk you through the winners and losers. And well be getting the inside track on a startup that tackles a topic thats long been taboo sanitary products. For women in the developed world, access to Feminine Hygiene Products is as easy as buying groceries. But its a very different story in developing countries. We speak to an entrepreneur who helps young women get better access to such products thanks to a subscription service. And wed love to hear from you just use the hashtag bbcbizlive to join in the conversation. Hello and welcome to business live. The people who manage the queens finances have defended their investment practices after the revelation that some of her wealth has been placed in two offshore funds. It follows a huge new leak of financial documents, dubbed the paradise papers, revealing how the rich and powerful invest their money in tax havens around the world. The bbc does not know the source of the leak, which contains more than 13 million documents, mostly from one finance firm based in bermuda. The vast majority of transactions did not involve any illegal activity. Heres our economics correspondent andy verity. Bermuda. Where the law firm at the heart of the biggest leak in offshore history, appleby, has its head office. The queen is the head of state here but until now we did not know that some of her private money was invested in tax havens like this one. The duchy of lancaster, the private Investment Vehicle for the queen, put £10 million, a small fraction of its overall investments, in offshore funds with 7. 5 million of that in one fund in the cayman islands. In 2007, it was asked to put £350,000 into investment projects including the purchase of two retailers. One was the company that owned threshers that later went bust owning £70 million in tax, and the other was brighthouse, the controversial rent to own retailer which was recently forced to compensate a quarter of a million customers. I am pretty furious with those who advise her and that are bringing her reputation into disrepute. It is so obvious that if you are looking after the money of the monarchy, you have got to be cleaner than clean and you must never go near the dirty world of money laundering, tax avoidance, tax evasion or making money in dubious ways. The duchy told us that all of the investments were fully audited and legitimate. The documents also reveal that Donald Trumps commerce secretary, wilbur ross, has business links with russian allies of president vladimir putin. Mr ross has a secret stake in a shipping Company Called navigator holdings. One of its major clients is sibur, a Russian Energy company. The associate of vladimir putin, gennady timchenko, is a shareholder, and sanctioned by the Us Government in 2014. Mr ross told us none of the funds he managed ever owned a majority of navigator shares and never met gennady timchenko. More revelations are to come. Andrew walker, our economics correspondent, is here. After the panama papers, now the paradise papers. Whats being done to tackle this . Specifically on the question of tax, and not all these stories are about tax, but minimising tax liabilities is a very important theme in many of them. There has been work going on in the organisations for the economic development, the 0ecd, they have been working on getting countries to do more by way of exchanging information about the tax affairs of citizens and other countries citizens and other countries citizens who might be earning money in yourjurisdiction. 0n the specific area of exchanging information on request from another tax jurisdiction, information on request from another taxjurisdiction, the information on request from another tax jurisdiction, the 0ecd information on request from another taxjurisdiction, the 0ecd has said there has been massive progress. A recent assessment they have done says the only country they regard as being noncompliant at all is trinidad and tobago. All of the others, including some of the countries featuring in the paradise papers, have at least had some progress and are complying in some respects. Where they say there has been less progress is in doing this Information Exchange automatically. An arrangement whereby you wouldnt need to have an initial suspicion before you need to ask someone else. Massive progress they say, but a lot of campaigners will say there is still a long way to go. We have a lot of details on the website and some of the estimates on what governments are missing out on in unpaid taxes. As you said, the 0ecd has been pretty much on it, but also individual governments and organisations like the european commission. European commission has taken assertive action against some individuals and countries in relation to some companies, for example, appleby with ireland. But also starbucks, fiat, they found themselves on the wrong end of action. The striking thing about the european commissions action, is not explicitly about the idea of companies not paying the tax they ought to pay, but its more about whether they have been receiving some unfair state aid, some unfair competitive advantage. 0ne some unfair state aid, some unfair competitive advantage. One of the things in the european commissions minds when they take this action is that the Biggest Companies should be paying theirfair share. That the Biggest Companies should be paying their fair share. Andrew wilkie, thank you. For more in depth comment and analysis on that story. Just head to bbc. Com news. Lets take a look at some of the other stories making the news. The uk Prime Minister is set to warn Business Leaders that it will not protect the economy from Market Forces when britain leaves the european union. Speaking at a Conference Held by the confederation of british industry, theresa may will tell firms the government has to make Strategic Decisions about how best to support different sectors of the economy. Qatar airways is buying a near 10 stake in Cathay Pacific for 660 million giving the middle Eastern Airline more access to chinas lucrative aviation market. The deal will make the airline Cathay Pacifics third biggest shareholder. It is the first known investment by a middle Eastern Airline into a South East Asian carrier. Us President Donald Trump has urged saudi arabia to choose new york for the initial Public Offering of the state owned oil giant aramco. Mr trump told reporters aboard air force one that he had spoken to the saudi king and he would like aramco to consider us exchanges. The aramco ipo is expected to be the largest in history, raising around 100 billion in much needed revenue for the kingdom. Its Donald Trumps first day of formal talks with the japanese Prime Minister, shinzo abe, and he wants to get tough on trade. They had a round of golf and a hamburger lunch on the first day. We can go to tokyo now. What do you think will be the highlights of the conversation that we will be privy to . Im sure a lot of it will be kept under wraps. Indeed. And north korea, not surprisingly, has been top of the agenda. But trade issues, some of the uncomfortable disagreements between the two countries, have been raised today. I guess President Trump did not have much of a choice. It was one of his main promises during his Election Campaign to tackle the huge trade deficit america has. He has previously accused japan and china for keeping their currencies on fairly wea k for keeping their currencies on fairly weak in order to take advantage in exports. He went on to say in front of japanese Business Leaders, why dont you make cars in america instead ofjust ship them over . That raised eyebrows because Japanese Companies have been making ca rs Japanese Companies have been making cars in the United States since the 19805. 75 of Japanese Cars in the United States since the 19805. 75 ofjapanese brand cars sold in america built there. That raised eyebrows here in tokyo. In terms of the currency manipulation, he did not use that term, but he is talking about that, he has spoken quite tough it. Thanks art, good to see you. Im sure we will have more on President Trump this time tomorrow as he continues his tour of asia. The markets were pretty flat, no big movements in asia today. The dowjones on no big movements in asia today. The dow jones on friday no big movements in asia today. The dowjones on friday there. The price of oil is in focus because of an Anti Corruption of oil is in focus because of an anti corru ption crackdown of oil is in focus because of an Anti Corruption crackdown going on in saudi arabia with brent crude above 62 per barrel at the mount, a two year high. The european markets at the start of a brand new week, again, extremely flat. Last week was packed with earnings news, Central Bank Action and a lot of action. I think markets around the world will ta ke think markets around the world will take a breather. We can now head to the news on wall street. Cbs will be reporting on monday. Profits may take a hit as Retail Business was a little sluggish, because of less foot traffic in stores. But investors will be clamouring to hear any details on cbss potential bid for Health Insurer aetna. It could give them more leveraged in negotiating prices with drug makers, but it could also attract more anti trust scrutiny. It could also help protect the pharmacy business. Especially now Online Retail giant amazon is getting into the business. And the luxury handbag maker michael kors will also be reporting. The company cut costs and scaled back their promotions, which will help profits for the quarter. But the bag maker might continue to report a slump in sales is because of weakness in north america. And its efforts to sell more bags at full price or with fewer discounts. Joining us is kathleen brooks, Research Director at city index. We had a busy week, as sally mentioned last week, lots of results and Central Bank Action, for those who are fans of central bank news. What are you watching this week . Its quite quiet, but a couple of things later in the week that i will be looking at, pretty much uk focused. Marks spencer results, they did 0k in the first half of the year but can they continue that . Homeware and clothing has been a thorn in their side. That could set them up well for the crucial sales period we are entering. And brexit talks, could we move onto trade talks, could we move onto trade talks in january . If talks, could we move onto trade talks injanuary . If these dont do well as we move into december, that could be off the cards and it could wear on sterling. Theresa may talking to the confederation of british industry later today where she will be addressing them, and saying they need to approach this from a rational point of view. Quite a tricky audience for her today. From a rational point of view. Quite a tricky audience for her todaym isa a tricky audience for her todaym is a tricky audience but there seems to be more optimism, certainly in the city, compared to what it was a year ago. Ubs saying they will not cut people out. Deutsche bank signing a new lease for a london office. A bank of england warning a week ago saying 75,000 jobs could be on the move. Ubs said last week that you have enough clarity now on regulation for them to be willing to keep people here for now. I think thats quite significant. Shifting our attention to the middle east, and the purge going on in saudi arabia, this Anti Corruption purge, its having an impact on the oil price, contributing to it. Interestingly the oil price is going up, even though you would think this political instability could weigh on the oil price and investments. Its largely because this is part of the new regimes plans to impose a new economic regime and for that they need oil to be above 60. That pretty much guarantees production cuts when 0pec meets later this month. As far as Financial Markets are concerned, month. As far as Financial Markets are concerned , we month. As far as Financial Markets are concerned, we are coming to a really interesting period, the run up to christmas, its so important to countries around the world. Retailers in particular. What will investors be doing in the next few weeks in positioning themselves and the geopolitics in the background . And the geopolitics in the background . Donald trump and the geopolitics in the background . Donald trump talking about north korea in asia. Interesting times. It really is. Stocks hit further records last week. The ftse 100 stocks hit further records last week. The ftse100 and snp did. Will week. The ftse100 and snp did. Will we see stocks slide as he had to the end of the year, or we will we get the much touted santa rally and see stocks rise because volatility remains low. Unless something pushes of volatility, i dont see how stocks will fall off a cliff. Investors across the other side of the atlantic in the us will be watching for the us jobless data out later. That was actually out on friday. That wasnt as good as expected, but its very difficult to read thejob expected, but its very difficult to read the job data at the moment because we had the september hurricane destruction. Its all about inflation and wage growth was flat last month. Thats very difficult coming up to the december Federal Reserve meeting, where they are expected to hike rates. It be interesting to see how that develops. They hike rates as fast in 2018 . Still to come how the plight of refugees fuelled one uk entrepreneur to found a start up that helps women in developing countries access better sanitary products. Youre with business live from bbc news. It isa it is a very important day for theresa may. You can see on the bbc online page what she will be saying. It is an interesting audience. They have got their real concerns about how the brexit negotiations are going and basically whats ahead in terms of brexit negotiations. The cbi urging craic down on Sexual Harassment at work. This is after the allegations by politicians at westminster. Theresa may, details there, about theresa may, details there, about theresa may, details there, about theresa may due to tell Business Leaders we wont shield the uk economy from Market Forces. Lets speak to the chief economist at the cbi. Just tell us more about todays reception for theresa may. We are talking about the fact that she has a clear message she wants to deliver to you, but will she be listened to . Absolutely. I mean everyone is excited to be here. We have got leaders from across business and government. Were here to hear the Prime Minister and what she has to say and we have gotjeremy corbyn and some great innovators from british industry and were really keen to hear what they have to say. Well, you say youre pleased to hear what they have to say, buff said that you are frustrated with how the brexit negotiations are going. That you are frustrated with how the brexit negotiations are goinglj think there is two things that British Business wants right now and thats a clear transition agreement with the eu so that we have time to prepare for that new relationship with the eu. Wed like to see the Prime Minister deliver that, but importantly, we also want the focus on the domestic agenda, on our industrial strategy, on making sure we have the right investment in our infrastructure, and our young people to make us ready for the modern economy thats out there. There is so much technological change thats happening at the moment and we have got to make sure we are match fit for the 21st century. We will have to leave it there, thank you very much. Chief economist at the crib. That gets under way later. We have mentioned theresa may is the main keynote speaker today. Youre watching business live. Our top story, a huge new leak of financial documents, known as the paradise papers, has revealed how the powerful and wealthy secretly invest vast amounts of money in offshore tax havens. A quick look at how markets are faring. A new trading week. In europe, they are flat. No big moves in either direction. Now, well be talking about the business of feminine hygiene. And if you think about it, this really does concern a lot of us, around half the population from the ages of about 12 to 50. Each woman uses an average of 12,000 sanitary products during her lifetime. And where you live can make a big difference, according to the un. One in ten schoolgirls in africa do not go to school during menstruation or drop out when puberty starts. Freda is one company is hoping to address this problem. Every woman who signs up for a subscription sanitary box will see a percentage of the fee going to provide Hygiene Products to women and girls in tanzania. Afsaneh parvizi wayne is co founder of freda. Good to see you. Welcome to the programme. What was it that prompted you to get freda off the ground and launch the idea. I am from refugee stock. My parents were iranian asylu m stock. My parents were iranian asylum seekers. Watching the images you ask yourself, what do they do when they have their periods. I was looking at innovation and how products were perceived. Putting the two together, i looked at them and was thinking what do they do, Market Research kicks in and you make phone calls and the answer was nothing. Menstruation does not feature on their radar. You go from the point of compassion to starting a company. This area of feminine hygiene is dominated the big pharmaceutical companies. Well, they similar to the journey that razor blades have taken. These are products that are hyper engineered. Mainly because they want if you look at period Care Products and what they give you is significantly more than what a woman needs. So therefore, looking at it, thinking 0k, needs. So therefore, looking at it, thinking ok, lets look into what goes into the product. I realised there was a complete lack of ingredient transparency. As consumers, a lot of our products have come under scrutiny. With sanitary products, you can imagine the damage to the environment because i guess these things. They are not sustainable. They dont break down quickly either. It is like nappies. Yes, very similar to nappies. The price . What the Service Provides you can choose the products you want. As women we buy a box of this, a box of that, pads and night pads. Here, you dont. You pick what you need and the postage is included. So compared to other organic products, the price is not as high. If you compare it to milk and organic milk, the price differential is higher than big brand tampons with freda tampons. Another thing thats important to mention we dont actually ship our products to tanzania, we are supporting a microenterprise where the women produce reusable sanitary products so they have a problem with waste. In terms of your products, everything about it is fairly sustainable because i grilled you about that . You did and quite rightly too. They are made in a factory in switzerland. Sweden. Each step is a fairly sustainable step. A lot of products have the tag natural organic, but the way they are produced is not necessarily that sustainable. So, our manufacturing plant has, you know, uses, it is almost zero carbon footprint. So its sustainable throughout its manufacturing process and our products are, you know, they are either the tampons are 100 organic cotton and the pads are made with renewable material. How have you been received in the industry. Have you had opposition . 0r been received in the industry. Have you had opposition . Or not . Are they not concerned by you at the moment because you are very small . We are very small and the market is massive. Three big brands, there is, and wejust massive. Three big brands, there is, and we just want to be massive. Three big brands, there is, and wejust want to be an alternative. We are not, you know, as david versus goliath as a start up, but globally, you know, we are talking half the worlds population. But it is, i mean it is half the worlds population and its half the worlds population and its half of the, you know, me and whoever, we are spending on these goods every single month. We dont really have a choice on that . Not only that. That. It is notjust access in the developing world. It is access in workplace and access in schools. I was asked once what does a freda world looks like. When my daughters daughter goes to work or my daughter goes to work, i want them to think my mum used to have to carry her own tampons to work because we dont carry our own toilet paper. Why are women expected toilet paper. Why are women expected to be their own responsibility. How much of the ambition is that you not just provide the products to women in the developing world, but some of the education, to get rid of the pra ej the education, to get rid of the praej disand stereotypes and the taboos. The project in tanzania that we are supporting, they go into schools, we buy the pads from the women who make them and so they get Menstrual Health education and then they get the pads free of charge. So, its education, and delivery of the product together. 0k. It has been fascinating. Thank you for coming in. Thank you for having me on this programme. We will see you soon. Thank you too for your company. Thats another business live. Have a good day. We will see you again very soon. Bye bye. Good morning. It has been a cold and frosty start to the day. We have had clear skies throughout the night. That led to the frosty conditions. A bit of patchy mist and fog around as well. You notice more cloud moving in and that cloud is bringing outbreaks of rain across the west of scotland. Elsewhere, the mist and fog clears away from central and southern areas and thats where you have the best of the sunshine towards the eastern parts of england. But for scotland, through this afternoon the rain turning increasingly heavy. We wont see too much in the way of rain towards the east of any Higher Ground and the breeze picking up a touch. Temperatures about nine to 11 celsius. Some patchy light rain in northern ireland, into north west england, wales and the West Midlands and South West England having some cloudier skies. A bit of rain here as well, but further east, thats where you have the clearer weather. That sunshine continuing into the afternoon, but with that clearer weather, you will notice things turning chilly quickly through the evening. Further west though, we have got a narrow bit of milder air associated with this rain actually which is going to turn heavy and a narrow band of intense rain into the early hours of tuesday morning, pushing its way further into england and wales. Quite chilly in the south east. Quite chilly as well across northern ireland. Because that area of rain will move further east ward during tuesday. As it does so, you will notice the short spell of really quite intense rainfall across england and wales. Not quite reaching the far south east of england until later on into the evening, but as that rain clears away to the east, you will notice the skies clearing with sunnier spells and turning a little bit chillier again. Temperatures about seven to nine celsius. There is that rainfall pushing into towards east anglia and the south east. Clear skies developing elsewhere and with that colder air. So it will turn cold and frosty through the night. But then behind it, we have got this next batch of milder weather. Thats associated with this weather system which is going to move its way in later in on wednesday, but in the meantime, we can have that inn that colder air across much of the uk, so with that, some clear skies, a bit of sunshine, it will feel chilly. Any Early Morning rain clearing from the south east and the spread spreads into the far north and west. Temperatures on wednesday ten or 11 celsius. Hello its monday, its 9 oclock, im victoria derbyshire. Welcome to the programme. Our top story today at least 26 people have been killed by a gunman in a Baptist Church in the us state of texas. The tragedy is worsened by the fact it took place in a church, a place of worship, where these people were innocently gunned down. The suspect 26 year old Devin Patrick kelly was found dead nearby. Well get reaction from eyewitnesses. As the westminster abuse scandal continues to engulf politics. A former conservative Party Activist who informed the house of commons authorities of an alleged rape tells this programme her complaints were completely ignored. I felt as if my experience wasnt important