Steve mnuchin the treasury secretary says that the Trump Administration does not intend to intervene in the currency markets right now. And mixing it up. Well be getting the inside track on a Company Making a stir with its cake mixes. A global slowdown in the diamond market is hitting the sales of industry giant de beers. Today we want to know have diamonds lost their lustre for you . Let us know just use the hashtag bbcbizlive. Hello and welcome to business live. The Business World reacts to the british Prime Ministers decision to suspend parliament in the run up to brexit. The speaker of the house calls it a contitutional outrage. Business groups here in the uk have been quick to condemn the move. The British Chamber of commerce says while the bosses lobby group, the confederation of british industry says the uk government, though, says its working closely with businesses and unions across the country to help ensure they are prepared for the uk leaving the eu on october 31st, whatever the circumstances. And it points out more than £100 million earmarked to support firms in the event of no deal. Vicky price, chief Economic Advisor at cebr is with me now. So businesses reacting angrily, they would, wouldnt they . Yes, but what i wanted more certainty, what we have seen is the strength of the economy has slowed down without any doubt, we have had a contraction in gdp in the last quarter, stagnation is what the bank of england governor is what the bank of england governor is talking about for the third quarter, so, it is an issue very much that the reality for businesses is they have been investing less, they have been worried about the future and their confidence has dropped. Not only businesses but the consumer, we had data this morning that suggests that Consumer Confidence has dropped, rather worryingly low. Of course, this decision to suspend, to Prorogue Parliament means that if there were to bea parliament means that if there were to be a no deal, there is less parliamentary time to enact laws to cushion the blow, make changes to tariff or cross border trade. Do you think businesses are concerned by that, or is that one of many concerns . They will be concerned about that. The clarity isnt going to be there was. Is there enough protection. The government is saying they will be spending a certain amount of money, they have put aside amount of money, they have put aside a few billion, they had already put aside two, now they are putting aside two, now they are putting aside four all together, to cushion us aside four all together, to cushion us against a no deal, but in reality loads of smaller first ladies have done very little to get ready. What they need is a huge amount of help. They need the ability to export to europe and they are not getting assurances. We heard victoria go through the statement from the government, it points out, fairly, that they have set aside more than one hundred million to support businesses if there were to be a no deal brexit. What more do they wa nt no deal brexit. What more do they want they want to know what arrangements there might be in the future in terms of trading with the eu, that is our main export market for those that export there but they have been facing competition from firms from the eu, they have been importing a lot of products that go into their own manufacturing p rocesseses into their own manufacturing processeses for example so inputs are significant for the uk, so anything that increases the cost of the inputs will be an issue. The government says they will spend a certain amount of money to ensure the companies can have the ability to have working capital and be able to have working capital and be able to continue to survive, but what they are not reassuring anyone is whether they will be able to be sustained for the long term. Whether they will be able to be sustained for the longterm. Despite the reactions we have had from the business groups which we heard a moment ago, people who support what the Prime Minister, what the government has done in asking for parliament to be suspended, would say if businesses and investors would have seen the pound fall more sharply and it didnt drop anywhere near as low as it has done. The pound fell when the possibility of a no deal increased. The probability in the market had risen from Something Like 15 30 to 50 . Now they have reacted to this and they are worried about the implication of suspending parliament. We are talking about foreign southern i can markets that are influenced by decision of millions of traders, all across the world. I think it needs to settle for a bit and people need to settle for a bit and people need to understand what it mean, how many days will they have to debate this . It increases the chances of Boris Johnson being able to have a deal he presents to parliament, over a short period of time, they will have to go for, so they are not quite sure about whether it means more of a chance of a no deal or more of a chance of a no deal or more of a chance of a no deal or more of a chance of possibly having a deal. Vicky, thank you very much. Lets take a look at some of the other stories making the news. Us treasury secretary Steven Mnuchin says the us does not intend to intervene in currency markets to weaken the dollar. Mnuchin told Bloomberg News that the situation could change in the future. President trump has frequently complained that the dollar is too strong against the currencies of Major Trading partners, including europe and china, putting us exports at adisadvantage. Argentina is seeking to restructure its debt with the imf. It is asking for longer to pay debts under its 57 billion bailout deal with the fund. The government is trying to avoid default and stabilise the national currency, which has been plummeting since president Mauricio Macri seen as business friendly lost in a primary president ial election. Us Oil Prices Fell on thursday for the first time in three days after San FranciscoFederal Reserve president mary daly sounded a note of concern about the strength of us economy. Uncertainy and a Global Growth slowdown were said to blame. The comments come after us President Donald Trump said on monday he believed china was sincere about wanting to reach a trade deal. South koreas highest court has ordered a retrialfor samsung heir lee jae yong in the latest twist in the countrys long running Corruption Case which brought down the former president. Monica miller is in singapore. It does appear to be something of a setback at this stage, does it not for samsung . It is, and shares of are down almost 1. 8 after the top court had announced this decision and real will i what it mines is that the groups de facto chief may get a realjail sentence if this bounces back to the lower court and they decide that happens. What he has, he has been out ofjail since the sentence was given back in 201717. This will be interesting to see what happens. This stems back to a bribery case in which he was accused of currying favours with at the time former president , a friend of her, apparently the group had donated some equestrian horses for a competition to curry favour with her, but really this is back down samsung, the company, which is facing tough economic times, south koreas almost in a recession and it makes chips, and right now the Semi Conductor industry is struggling. Makes chips, and right now the Semi Conductor industry is strugglingm certainly is. Thank you monica. Let us see how the markets have been faring, the Asian Session was mixed. Energy stocks providing a bright spot across this whole region, all the indices struggling for direction. Debt yields lower on concerns over Global Growth. A big story is micro focus, they are run with of the biggest tech firms and their shares have dropped by also 30 in the first what 39 minutes of trade. They have been warning delays and Decision Making by customers is putting a real dampener on their sales so they are saying there will bea sales so they are saying there will be a big warning when it comes to annual sales and that i are having to cut more aggressively than previously forecast. In the uk session, profits at the recruiter hayes have dipped in the latest financial year, hit by the cost of restructuring in europe. They have been weighed down by the faltering Economic Growth in many of the markets, you can see the ftse up just 33 points. Ben. Paola binns, Senior Fund Manager at Royal London Asset management is with me. You know we were talking about the decision tos is pendleton spend parliament, the uncertainty it create, Market Reaction was fairly muted, we didnt see kneejerk create, Market Reaction was fairly muted, we didnt see knee jerk or extreme response. No, ithink muted, we didnt see knee jerk or extreme response. No, i think the move in sterling was quickly reversed but you have to remember it is one of the most shorted currencies so dealers will expect the move downwards, but would be nervous that if they eventually come toa nervous that if they eventually come to a deal that sterling could bounce back fiercely, i think what you need to lock at is the bond market, because they are signalling stress, we are seeing a big flight to quality for safety, investors are looking for safe haven, and what you have seen is that ten year bond yields since borisjohnson got into, became Prime Minister fallen from 1 to less than half a percent. That is signalling ex trieste treatment stress in the mark. Remember none of this is happening in a vacuum. Britain is is not the only european country that has been in crisis, we have a situation over in italy, they appear to have a situation over in italy, they appearto be, have a situation over in italy, they appear to be, you know, closer to a political resolution, we have trade wa rs political resolution, we have trade wars as well. So is it surprising that we are seeing this flight to quality, a flight to safety . No, not really, because i think that the, particularly the trade wars are of concern. You know we talk about Business Confidence and what that means for future growth. Consumer confidence is ok, so it is not all bad news, apart from germany and the uk, Growth Numbers have been 0k globally but look forward, investors are thinking this is all bad new, the glimmer of good news was italy, and you did see a strong bounce back in the italian market yesterday, but as we know thing, this can change quickly in italy. But at least it was a glimmer of good news yesterday. That has been a concern because of the potential of elections at a time when italy was in the middle of its budget process. The markets are focussing on the politics and the trade wars and that is the focus, the data is showing some sort of slowing, but it is, we are not at a critical point yet. 0k. Good to see you. We will go through the papers with you later. Still to come. We find out how the home baking market is facing stiff competition. Youre with business live from bbc news. There are only hours left to make a claim for mis sold payment protection insurance, as one of the uks biggest financial scandals draws to a close. Ppi was designed to cover loan repayments when policyholders fell ill or lost theirjobs. But banks and loan providers mis sold millions of policies to people who did not need them or would not be covered. Have you still got time to claim . Guy anker is the Deputy Editor of money saving expert. What is the answer, can you get one in in the next few hours you can, you have until 11. 59 night. I would hurry, there is urgency, go quick, you get the messageer we have seen exa m ples over you get the messageer we have seen examples over the last few hours, to some banks struggling because there will be an almighty stampede of people trying to put in a claim. We saw it yesterday, lots and lots of people trying to claim, to go as quickly as you can, because when the clock strikes midnight, that is it. The window slams shut. You will not be able to claim ppi and it is probably hundreds of millions, if not billions still to reclaim. How easy is it to put in a claim . First thing first, you dont need to use a claims Management Firm you might have seen on the telly, they typically take a quarter of what you get back, and the work you do, to give them information is not that much more than what you do yourself if you put in a claim yourself. There are template lettersonline, you can complain, whoever it was that sold you the ppi. If you are rejected you can go to the free financial ombudsman service, there are online tools, we have one on the website, which . Has one. Very good. I have one more question for you before you g. How about you know, how you do the form, what if you dont know whether north you had ppi in the first place, is it easy to find out . Just getting a check to find out . Just getting a check to find out . Just getting a check to find out whether you had ppi with all the big banks before the deadline tonight will get you over the line for the deadline and buy you more time. If you had the account active in the last six years it doesnt matter when it was open, if you ask them they must hold those details, if you close it more than six years ago it is harder. All right we will have to leave it there. Thank you very much guy. Youre watching business live. Our top story business react angrily to the uk governments suspension of parliament. A quick look at how the markets are faring. This is the european session at moment. We have seen low trading volume, we are still in august, i know it feels like the world has moved on and political situation across europe, so, everyone may be busy we we are still in august and the traders are sitting on their hands, so volumes are pretty think. Now, who doesnt like a sweet treat . And, if you are a fan of reality tv baking shows, you might think everyone has gone cake mad. But our love of watching cakes being made has not inspired us to make more at home. According to the grocer, the uk home baking market is shrinking, with the average shoppers baking trips falling 2. 2 on the year before. However, despite this drop kantar counts 30 new baking ranges over the past year alone. Well, we know that more brands and less shoppers can only mean one thing stiff competition. He told me he has had the same bag of flour for two years. It is there foran of flour for two years. It is there for an emergency. Come first november you might be bake, you might be making bread for us both. With us here in the studio is tania vynokurova, the co founder of superfood bakery. Their range of gluten free and vegan mixes, among others, appear to be hitting the sweet spot as the company say sales tripled in 2018. Good to see you. Welcome to the programme. It is a competitive mark, why did you decide to get into it . Well, simply because there wasnt anything out there, so my co founder was fasting a couple of years ago, and we baked this lemon tart from like a amateur health blog and it was gluten free vegan and it tasted like clay, we were like there must be something out there that was gluten free, natural, like, that you can make up easily, and there simply wasnt anything out there. It was a very much outdated and boring category. How wide, i know your sales have tripled in the last year orso, so sales have tripled in the last year or so, so obviously there is a market for this, how big is the market . If you want a brownie or pancake, a cookie, just, you know, bite the bullet and eat the gluten version surely . So the uk market is about £55 million, for baking mix, the Global Market is in the billions so there is a lot of demand for this, and the premium baking mix market has grown by over 8 , over the past year. While the general sales have been going down. What is intriguing at a time when people wa nt intriguing at a time when people want convenience, we are time poor, lots of demands on our time, i think why would i try and make something at home which would probably be a disaster when i could buy it. I i would National Institute for health would National Institute for health would nice taste nicer and you can get gluten free and dairy free. Would nice taste nicer and you can get glutenfree and dairy free. We have carried out research with the supermarket shoppers and we have found out that people are concerned that ready made gluten free buckets are full of chemicals and preservatives, whereas if you make it alhome. It is all natural, you know what goes in. It a great activity to do with the kids as well. You say that, there are stabiliser and that kind of thing to give them a greater shelf life but everything in there is in a packet. How do i know that is also free of preservatives and stabilisers because how many people are going to turn round and read to the bottom of the ingredients and whack in a bit water and off you go. You would be surprised. A lot of people are reading the label, and they are educated about what goes into their food. So, we make our baking mix, they are completely natural, we use organic gluten free british flour, we use organic unrefined sugar, super foods and you add a few natural wet ingredients to make it up natural wet ingredients to make it up so you know exactly what goes in with setting up a business with a friend, were there any challenge, was the friend ship at risk . No, not really because we have known each other for really because we have known each otherfor ten year, met really because we have known each other for ten year, met with at uni and we Work Together before. What we re and we Work Together before. What were the biggest hurdles you faced trying to get it off the ground . think finding trying to get it off the ground . thinkfinding a trying to get it off the ground . think finding a manufacturer is a big one, because there is actually an issue in the uk where there isnt enough kind of gluten free certified facilities, so that was probably our biggest hurdle. But everything else, mine there are ups and downs but they are manageable. 0k. All right. Thank you so much. I think we will have to give it a go. Even you ben can probably manage that. If you taste it, if you be the guinea pig. Fine. Ina taste it, if you be the guinea pig. Fine. In a moment we will go through the business pages. London, singapore, shanghai, new york, our correspondents have your Business World covered. On air, online and on the bbcs news app. Check out bbc. Com business for the insight and analysis. The bbcs business live page has the latest breaking business news. We wants your views too. Get in touch via the business live page, tweet us bbcbusiness or find us on facebook at bbc money. Join the bbcs business conversation. Lets see what other stories are being talked about on social media. In the papers as well. We have been asking for your thoughts about whether diamonds have lost their lustre, this is after de beers sales fell, apparently, people, it seems falling out of love with the sparkle, so we are asking you have they lost their lustre, celeb meant says maybe we are just too poor to afford them. Angela says i prefer a real diamond, diamond prices have been hugely inflated, the lower prices may reflect their true value. This is one of the issues it is possible to grow them in labs rather than mine for them and that has affected the rough diamond market. Down Something Like 44 . Mark said surely Shirley Bassey would not prove. Diamonds are forever of course. You are so cheesy. I love you ben. Steven says sad news indeed. Even a cheap and natural diamond is more precious than a lab grown one. What do you make of this . I think the Lab Grown Diamond is kennel i can identical to the real one, and a lot cheaper, so, your money goes further. Why not . Why would you not . There is resistance, my colleague was talking about getting an Engagement Ring for his future wife. Dont same the name she was having none of the Lab Grown Diamond. How interesting. The article goes on to explain about how the trade wars, of course chinese us trade wars are impacting. These are the two big markets for diamond, china and the united states. Yes, and the chinese tourist, the number of Chinese Tourists going to the us has fallen. That has been blamed for the fall in sales. People are concerned about where they are being sourced from and the ethical side. Yes, yes, that film blood diamond there was a lot of concern about what the provenance of concern about what the provenance of these stones, what it actually is. There is not a lot of visibility. To that point, it is interesting the apasty round this, you dont really know how much a diamond is truly worth, do you. You know you are told however many cs it is, cut, clarityi know you are told however many cs it is, cut, clarity i cant remember the rest, but ultimately, you know, they are very hugely in the shops, so it is very difficult to know what the mark up is and who is controlling the market. We understand there are vast, you know, banks full of dimes that are being held in reserve to artificially inflate the prices. That is one of the concern, how much is being held back. Is there a stockpile of dimes and what are you going to do with it if the price, demand stops falling. Go swim in then ben. With our vegan cookies. Let me know, i will be there. The financial time, news of the Chinese State broad caster gearing up Chinese State broad caster gearing upfora uk Chinese State broad caster gearing up for a uk launch. I can understand why the chinese might want to have their slant on new, this is something that a lot of people talk about, especially in this time when everybody questions any news, you know especially after trump saying false news and etc, that the chinese wa nt to false news and etc, that the chinese want to have their own version of what is happening in europe. So it is no real surprise they are launching this, this news channel, in london. There are some issues a p pa re ntly in london. There are some issues apparently with, with peter humphreys, he is saying he was forced to make a confession live on news so he is suing them, that could affect the ability to have a licence in the uk, but not their ability to actually have european stories. This is the communications regulator, opening an investigation into the Company Following a. Co plain filed by peter humphrey. He has accused them and the Parent Network of airing a confession to a Business Crime he said was made under duress. Good to see you. Thank you, we will see you soon. Thank you for watching, have a great day. Bye. Good morning. We will keep the cooler conditions going as we head towards the weekend. While there will be a lot of fine dry weather across england and wales today, we will all notice the breeze, the sun, it is going to be windy. It is down to an area of low pressure sitting up to an area of low pressure sitting up to the north and west, around that, we have a daisy chain of weather fronts which will become stalled across Northern Ireland and scotland. For england and wales we have one or two showers but they will be the exception not the rule. It isa will be the exception not the rule. It is a dry looking day. For Northern Ireland and scotland, some of the showers may merge together to form longer spells of rain and it is windir, we could see gusts between 40 windir, we could see gusts between a0 and 50mph. Temperatures down where they were yesterday. We are looking between 15 and 2a celsius. We will keep the rain going through Northern Ireland and scotland this evening, at times that will become heavy, windy here too. Across england and wales it will be a dry night with clear spell, particularly down the south and the east, fairly mild too, with most places holding up mild too, with most places holding up in double figure temperatures. So, for friday, we have still got the rain, for Northern Ireland and scotland. This will continue to be heavy and persistent and windy here. Elsewhere, the south westerly breeze will be noticeable, and some of that rain will slip further southwards into parts of Northern England. Perhaps into northern wales too. But for england and wales once again, a mostly fine looking day, in the sunshine it will feel warm, 25 celsius there, for east anglia. Into the weekend, low pressure remains in charge, so that means it will be u nsettled charge, so that means it will be unsettled and it will be turning cooler, noticeably so for sunday. So our weather front that has been stalled is on the move as we head through saturday, gradually sinking its way south and eastwards, working out of Northern Ireland, and eventually just starting to out of Northern Ireland, and eventuallyjust starting to push into Northern England and western wales and the far south west. The further east and south you are, the more likely you will have a dry day with spells of sunshine but notice the temperature, we are looking at temperatures in the low 20s at best. That is a cold front, that will work its way up to the south and east, introducing fresher conditions as we head through the day on sunday. Bye for now. Youre watching bbc news at nine with me, annita mcveigh. The headlines cabinet ministers strongly reject claims that the suspension of parliament is an attempt to stop mps from debating brexit or preventing a no deal exit. This is completely constitutional and proper. There will be lots of time to debate before the 31st of october and parliament will be sitting then and will be able to have whatever motions it wants. The suspension of parliament has sparked a furious backlash from mps and opponents of a no deal brexit. To listen to our arguments against the fact that we think this request is illegal. The leader of the scottish conservatives, ruth davidson,