Conservative president loses big in primary elections. European markets looking a little like that. Well tell you what to watch on the markets today. Living in the lap of luxury at least for a little while well get a peak into some of indias biggest and more extravagent hotels and find out why theyre doing so well. One think tank recommends raising wages and giving workers more holiday to boost productivity so, we want to know what would you prefer . More cash or more time off . Just use the hashtag bbcbizlive im just thinking both you cant have both, youve got to choose one let us know, use the hashtag. Hello and welcome to business live. We start in the us where a ban has kicked in barring Government Agencies from buying equipment made by some of chinas biggest tech firms. It comes as president Trumps National security advisor visits london while stressing the us is ready to strike a trade deal with the uk after brexit, he said the involvement of the chinese Telecoms Firm huawei in building the uks 56 mobile infrastructure could be put off until after the uk leaves the eu. Todays us ban stops Government Agencies buying from huawei and a host of other chinese firms including telecoms equipment maker zte and hik vision which makes security cameras. Huawei in particular has been described as a National Security threat amid fears it could be used by the Chinese Government to spy, something huawei says it would never do. But the ban also comes amid mounting trade tensions between the us and china with america due to impose a 10 tariff on an additional 300 billion in chinese imports on the 1st of september. With us now is shona ghosh, chief editor, Business Insider uk good morning. Ifeel ive been talking about this for over a year but today the ban has come into place so what difference will it make . It marks a shift back to a freeze, it felt like a tramp in the us generally were softening their sta nce us generally were softening their stance towards china and while i aroundjune, stance towards china and while i around june, when trump made remarks at the 620 are bad allowing us firms to trade with huawei, he seems to have reversed that position. It suggests us firms will find it difficult to obtain the license is in america to trade with wildlife. It feels like we have shifted to a colder position again. As far as federal agencies are concerned its a no go zone but when it comes to private companies in the us its not clear at all. Its not clear, trump has flip flopped on the issue, he said american firms cant trade with them, injune he said maybe firms could trade but it seems like the entity list which means huawei can bite from us firms are still in place, theres very little clarity. How do you think this plays into whole us china trade dispute which seems to be in a bit of a funny place right now with threats of new ta riffs place right now with threats of new tariffs on september the 1st. Again around june it felt like there was a softening, it feels there is a shift back to a colder position and i think huawei is symbolic of that, we can see the move back to a hard line position and talks arent going as well as we might have thought. The other issue to think about isjohn bolton, his comments in london, the National Security secretary, talking about huawei, the uk and the us in future trade relationships, while it already provides two 6, 36 technology in the uk and 56 to a degree in birmingham, places like that. Its complicated, isnt it . It is, bolton has turned up in the uk and said apparently, hes made some remarks that borisjohnson s government has stated that you know, they will reconsider one of a s position in the uk versus theresa may s position which was to allow white to be in some parts of the uk ina56 white to be in some parts of the uk in a 56 network and kick the wider decision about where huawei could be in the networks into the long grass and to the next government but it sounds boris could take a tougher position and it seems that still on the negotiating position, the position is not super clear but it seems there is encouragement to a hard line position. Seems there is encouragement to a hardline position. Again, complicated, well keep an eye on whats happening, thanks for telling us whats happening, thanks for telling us where we are at at the moment. Lets take a look at some of the other stories making the news the us state of oregon has joined a lawsuit designed to block the merger of Telecommunications Giants t mobile and sprint. They say the deal would be anti competitive and cost customers 4. 5 billion a year. Thejustice Department Gave the 26 billion deal the green light last month. Us Telecoms Firm verizon says it will sell its blogging website tumblr to the owner of Popular Online publishing tool wordpress. Com. Verizon acquired tumblr through its 2017 purchase of yahoo. In 2013, yahoo had bought tumblr for more than 1 billion, but ended up writing off much of its value. President Trumps National security adviserjohn bolton says the uk is first in line for a trade deal with the us. His comments came after meeting Prime Minister boris johnson. According to mr bolton, deals could be done on a sector by sector basis, with an agreement on manufacturing being agreed first. Hong kongs leader carrie lam says violence is pushing it down what shes calling a path of no return. A day after protesters brought hong kong airport to a standstill, passengers are still facing lengthy delays as the aviation authorities tackle a backlog of flights. Sharanjit leyl is in singapore. Today, quite unsure what travellers might be facing at the airport . Absolutely, quite possibly your Worst Nightmare if you are a traveller or businessman trying to get to meetings because you know hong kong is a major financial help, it doesnt bode well with protesters occupying the city S International airport, forcing as you say hundreds of flights to be cancelled. We note the mass unrest which has rocked the city for ten weeks is showing no signs of abating, prompting its chief executive carrie lam to utter those words you said. Authorities said today operations at the airport have resumed but they warned flights would still be affected, Cathay Pacific has cancelled more than 200 flights and they say they would run only a limited number for connecting passengers, estimates suggest around 5000 protesters in the airport on monday but only about 50 remain camped at terminals, earlier today while they were snaking long lines at Cathay Pacific s ticket counter. The airport authorities want the situation could worsen again today, because online for a Public Assembly of the airport this afternoon. Keep us of the airport this afternoon. Keep us up to date, thank you for now. Let me show you whats happening with the numbers. Shares injapan ending down more than i , in what was the first trading day after a long weekend, hurt by fresh jitters about the u. S. China trade war, turmoil in hong kong and a firmer yen that hit exporters. Heres what europe looks like at the open, but all eyes are on south america, as argentine stock market and currency plunged after conservative president Mauricio Macri suffered a shock defeat in primary elections on sunday. Daniel 6allas has the details. Mondays market meltdown in argentina is likely to have many repercussions in the region. The government tried to intervene in currency markets but there was no way to avert one of the worst days in the history of argentinas stock market. What primary Election Results suggest is that voters in argentina are rejecting the pro Business Market reforms implemented by mr macri and his deal with the imf, to implement austerity cuts and end capital controls in argentina. In fact, what these results suggest is that voters want the return of the left wing politicians who think argentina must ditch austerity and spend its way out of crisis. A lot of Market Investors believe that is the wrong way forward and thats why theyve been selling their assets on monday. There were also ripple effects on neighbouring countries like brazil, that saw a drop in its stock market as well. Argentina will hold elections only two months from now but the lead established by the opposition is so big now that very few market analysts believe they can lose this election so by the end of the year, mr macri is likely to be ousted. Daniel summing upa daniel summing up a crazy day for the markets in argentina. Joining us is Michael Hewson from cmc markets weve dragged you away from the trading floor. You were watching that late yesterday afternoon for us that late yesterday afternoon for us in europe, give us your take on all these different stories, hong kong, argentina etc. |j all these different stories, hong kong, argentina etc. I think one of the things that struck me yesterday was the fact european markets were trading in positive territory, weve had to absorb an awful lot of news flow over the course of the past 2 3 years, trump becoming president , brexit, north korea china trade. Us china trade, now the prospect of Political Uncertainty across europe, italian elections, i think the thing that struck me more than anything else, all of these on their own probably could be containable and manageable but we are getting to a point where theresjust manageable but we are getting to a point where theres just so much risk, such a big cocktail of risk, that you are seeing investors increasingly concerned about investing in equity markets, we are still at fairly elevated levels considering where we were ten years ago but what we are starting to see fiow ago but what we are starting to see now is capital flow into safe havens, we are talking gold, swiss francs, japanese yen, you look at gold prices, they are at record highs against the swiss franc, the euro, the japanese yen, the pound. The only thing they are not a record high is against the us dollar, we are seeing yields at record low in europe, negative yields, ubs charging people to put money on deposit. I know that was an amazing story, ijust deposit. I know that was an amazing story, i just thought that was incredible, it yields as an interest you will get on money you put in the bank. You will get on money you put in the bank you are being charged to park money in the bank and thats becoming much more common so investors are thinking, why do i do that, why dont i put it in somewhere else like precious metals, for example . A brief, unemployment figures this morning, what are we expecting the uk . 40 year lows of 3. 8 but what im interested in is the wages numbers, they are still expected to continue increasing, 3. 8 we are expecting which is the highest level that defies logic. It does a little but what i think is happening companies are investing in staff in terms of giving them pay rises rather than putting investment into future companies. A cynic would say you can fire people more easily than you can get rid of big, expensive equipment. For now, thank you, good to see you. For holiday or higher wages, thats the big discussion. Everyone wants both, you can tab them. Holiday, time off, money . Well discuss it later. Lets talk about living the life of luxury, if you are not earning as much you can spend as much when you are on holiday. We meet the man running some of india s most Expensive Hotels and find out what it takes to keep the doors open and customers happy. Youre with business live from bbc news. Bosses of more than 50 retailers including asda and boots have written to the chancellor urging him to change tax rules to boost the uk high street. In the letter to the chancellor, co ordinated by the trade body the british retail consortium, the group pointed out that retail accounted for 5 of the economy but paid 25 of all Business Rates, a property based tax. Richard walker is the managing director of iceland he wants a level Playing Field with the big online retailers like amazon we dont want to pay any less tax. We paid almost 1. 5 billion over the last 15 years and im proud of that fact but what i would like is a level Playing Field whereby the Biggest Online giants, some of the Biggest Companies in the world, dont hitch a free ride. The tax they hope to bring in, they hope to raise about 400 million so in context weve paid almost 10 of that at the moment in our Business Rates bill alone. So nowhere near enough to level the Playing Field and secondly, to give relief to Small Businesses is a welcome move, a good move but that will generally help kebab shops, corner shops, the like, its not going to help the volume of jobs, the volume ofjob losses we are seeing and you only have to open a newspaper every day to see another high street name hit the buffers. Its pretty significant and its one of many headwinds that retail is facing which you know, we operate in a competitive market and thats how it is but at a time where the new administration wants to dramatically boost the economy and put together a serious economic package in the autumn, this could be a great opportunity to do so. But the boss of iceland calling for the review of rents and rates but rates particularly and we know many retailers say that is one of the Biggest Challenges for their viability on the high street, an outdated tax, they call it, joining forces to try and ask the government to change that. You may remember this time yesterday we mentioned to thomas cook, its shares plunging this time yesterday on the news its raising more capital but heres another headache for travel companies. The grounding of the boeing 737 max jets will cost it tui. The company made this disclosure in its Third Quarter results which were up this morning. It saw a 3. 7 rise in sales, that is the latest from tui. Youre watching business live our top story a ban on four chinese firms including hauwei has come into effect in the us. Washington says its over security concerns. Five chinese firms. Now lets be honest, we all love the comfort of a posh hotel when on holiday. The fresh bedding, the room service, and lets not forget the fluffy robes and slippers. And the hotel sector is one of the worlds booming industries. Its made over 173 billion in revenue so far this year and expected to generate around 220 billion by 2023. In countries like india, for example, the industry is a driving force behind the growth of the economy. Its made roughly 3 billion to date this year. And one of the Companies Cashing in from this boom is Indian Hotels company. Founded over three decades ago, its south asias Largest Hospitality Group with 135 hotels in india and 17 international hotels. It runs the iconic taj chain of hotels. The firms chief executve, Puneet Chhatwal joins us now. Welcome to the programme, good to see you. Tell us about the business because you been involved in a number of different businesses before you took over here, give me a sense of how someone starts in an industry like this because many people who do this have been doing it for life, its a vocation. That holds true for me. Ive spent 38 years in this industry. Ive been in different companies, i started in india, transitioned to europe, worked for a global group and a german group and then back to the roots. So here i am, just a little correction, our company was formed almost 120 years ago. Apologies we got our numbers wrong, didnt we . Its ok. I was going to say, you and i were discussing that before we came on airand i were discussing that before we came on air and the responsibility that brings because as we mentioned, some of the most iconic and Famous Hotels within india are under your care. And its part of the indian story, the indian heritage, do you feel the weight of responsibility . Absolutely. I think its motivating, its exciting, its a once in a lifetime opportunity, when it comes to looking after, being the custodian as we call it of the indian hospitality, looking after out indian hospitality, looking after our palaces, looking after our iconic assets like the dutch royal palace in mumbai, but also some of the iconic assets around the world including in london, buckingham gate in stjames including in london, buckingham gate in st james course, its a very fascinating brand. And the tash brand, it has the highest emotional connection and other brands are emerging, ithink connection and other brands are emerging, i think as they are much younger, they are less than a decade old, another one is 20 years old, i think they will also evolve into being very special in their own market position. The reason branding in the Hotel Business is so important is because people know what they are going to get, dont they . They know a brand, whether you are in new york, mumbai, sydney, but it has to be different, because you runa it has to be different, because you run a hotel, i would it has to be different, because you run a hotel, iwould imagine it has to be different, because you run a hotel, i would imagine very differently in mumbai than you do and say, sydney so how do you make sure you offer the same thing but differently and stay true to where you are . Thats interesting, but not for luxury. I think our backbone of out for luxury. I think our backbone of our brand escape is to touch brand and that cannot be the same, in india it has to be indian hospitality but the way of service and culture outside of india could also be in tune with what we would do within the indian subcontinent. What would you do in london, for example, in the london hotel that you wouldnt in mumbai or vice versa, how do you vision differentiate . It starts with the staff, uniforms, you dont have people running around, ladies in saris or doormen etc wearing the kind of traditional wear which is very common in places like rajasthan or the south of india because it doesnt fit in. So its an interesting part of how you preserve the core and be a global brand but you have to inculcate yourself in the local values and translate it into that local market space and i think weve done quite well on that. But people s expectations are great, arent they, and its matching that expectation because youve got this incredible heritage, some of those palaces, 100 years plus but you have to keep them releva nt, plus but you have to keep them relevant, updated, preserved and get with the latest technology, i assume and all the bells and whistles that the new middle classes are demanding. Yes, it is a challenge because the Technology Revolution is faster than anything else and its not the easiest thing for Heritage Properties to embrace the changes in technology for a variety of reasons, including you know, new Fire Protection laws orjust getting the cable into 300,400, Protection Laws orjust getting the cable into 300, 400, 500 year old building. But challenge makes the job interesting, its the challenges like that which make our iconic assets interesting and you cannot be interesting, everything is very easy and anybody else can do it. Fascinating. It sounds stressful to me im sure youll love the job though, dont you. I do, and you know, i would encourage everyone to come and visit some of our palaces and some of our iconic assets and enjoy the indian hospitality. Its been great to have you in the programme, thanks for being with us. 6ood programme, thanks for being with us. Good to see you. Now for something entirely different. The flying car its been the pipedream of inventors for more than a century, but none has ever made it onto the market. But could that be about to change . Along the highway near rome, the flanker makes its first test. Its a combination of aeroplane and car, meets all the regulations for aeroplanes and cars in the united states, you can fit it in your garage, you can drive it to the airport, you can unfold the wings, fly it to another airport, folded up and drive it to your destination. Michael is back to look through the papers raise workers, raise wages, give workers more holidays, sounds like a no brainer. Workers more holidays, sounds like a nobrainer. Why arent we doing it . If the cost to business, ask anyone they would want both, i think the reality of it is that its going to be an eitheror, reality of it is that its going to be an either or, or more Flexible Working, perhaps. Ithink be an either or, or more Flexible Working, perhaps. I think employers are starting to move into the realms of more Flexible Working, certainly in terms of holiday or i would probably go with more holiday. So many people getting in touch about this story. And youre all very greedy because you want both, you wa nt greedy because you want both, you want time off and more money. Kevin says. Good luck want time off and more money. Kevin says good luck with that. Exactly, employers might have more to say. Dylan says cash, kevin says time, you dont hear people on their deathbed saying i wish id worked more hours. Susie has got a novel approach, why not move to a four day working week but keep the same wage and thats one option when we get into the Flexible Working. |j and thats one option when we get into the Flexible Working. I think Flexible Working probably works better because the advent of technology and the way its moved on over the past ten years, its so much more easier to work from home and you think about it, how long does your commute to take every single day . You could be working or you could get up a little bit later. Ido, get you could get up a little bit later. I do, get on the train you could get up a little bit later. Ido, get on the train you could get up a little bit later. I do, get on the train you are on there it straight away, sending us on there it straight away, sending us your market summary. Seek it once both, since no point having a pay rise if you cant have the holiday to ta ke rise if you cant have the holiday to take it with you. Thanks for all your comments. See you soon. Have a good day. 6ood good morning. Throughout the night we had heavy showers affecting northern parts of england, some rain in the south west of england, both of those features will tend to ease of those features will tend to ease of today and for many of us it should be dry with sunshine, just a few showers dotted around this afternoon, particularly in western scotland, still a few showers towards eastern parts of england and still one or two down towards cornwall and west devon. For most, as you can see, going to be dry and there will be sunshine, tart warmer than yesterday, maximum temperature is 1721d than yesterday, maximum temperature is 17 21d in the south east of england. Through tonight, cloud increasing in the south west, with that, or persistent rain slowly moving on, further north and east we keep clear skies and it will turn quite chilly tonight, in North Eastern areas, temperatures potentially 5 7d, not quite as cold further south and west, weve got cloud and rain moving its way in. A wet start to the day across the south west, heavy rain spreading through wales, the midlands, into eastern parts of england, showers ahead of that in northern england, rain spreading into North Western scotla nd rain spreading into North Western scotland and northern ireland. Largely dry in North Eastern scotland, or north of england, feeling quite cool with a strengthening breeze, all the cloud and rain, temperatures in the high teens. The weather system responsible for the wet weather will clear away during thursday and we have this ridge of High Pressure in thursday, that means it will settle down again, going to be drier and brighter, sunny spells. 0ne down again, going to be drier and brighter, sunny spells. One or two showers across eastern areas into the afternoon, for most the drier weather will bring us a warmer day with temperatures again getting up to about 21 22d in the south east of england. By friday we see this next weather system pushing in, heavy rain moving its way from west to east, strong winds associated and it will feel disappointingly cool with the wet weather, strong winds, it will clear eventually from northern ireland. Into the weekend remaining very unsettled, this area of low pressure in charge, another little area of low pressure developing on this weather system, putting in for saturday. It means for the weekend it will be quite unsettled, heavy rain, strong winds for some of us, like last weekend if youve got any plans for events or travelling, then its well worth staying tuned to the forecast. 6oodbye. Youre watching bbc news at nine with me, lu kwesa burak. The headlines first in line for a trade deal with the us one of president trumps closest advisors says america will back the uk after brexit. Calls to ban drivers using their mobiles hands free a group of mps says its just as dangerous as using your phone behind the wheel. Hong kong airport re opens after protests but chief executive carrie lam warns activists they risk pushing the city into an abyss. This is the scene live in hong kong airport, where operations have resumed but authorities warn flights will still be affected. More money to boost security inside prisons, to tackle drugs and mobile phones smuggling. Remembering woodstock 50 years on well hear