The eu will meet today to consider a brexit extension until the end of january, with an option for the uk to leave earlier if a deal is approved. Why . Well, although a deal has been agreed between the European Union and uk Prime Minister borisjohnson, british mps havent yet given it their endorsement. Eu members are looking at a range of brexit extension dates including november 30th, december 31st and january 31st. If an extension cant be agreed, the uk will leave this thursday without a deal. That possibility is undoubtedly causing concern in the business community. The institute of directors says more than half their members favour another referendum or general election over a no deal brexit. If the eu backs a longer extension then they could get their election wish. Borisjohnson has said he wants to hold one on december 12th but he needs the support of two thirds of mps. Chris southworth is the secretary general of the International Chamber of commerce who represent businesses across the globe. In terms of where we are at, today we find out if we get to the extension and hopefully the no deal scenario is off the table. We do not know that for sure but that is the home. Listening to what the eod are saying, the message is simple, it is costing the economy an enormous amount of money, the uncertainty. We are in an environment where world trade is down. I was talking to the chamber of commerce and the uk has slumped from fifth to number seven behind poland as an export economy. You talk to the german head of commerce, they are, some might argue, in recession already, and the pressure on them is huge and brexit is playing a part. Everyone is extremely frustrated but this is not a time to add more uncertainty so the timing could not be worse. The institute of directors, saying a general election is preferred, a referendum is preferred to a no deal. If we were to have a general election, what do you think the outcome might be . I know that is a hard question to answer. We got to the point where whatever it takes to get 70 back. Do not a position on an election, referendum from an International Chamber of commerce but it is hard to see who you would back. It has come to a point where you need a clear, concise question that needs to be answered by the people, i a that needs to be answered by the people, ia referendum, otherwise we will have as much uncertainty after an election as we have right now. Thatis an election as we have right now. That is a referendum. It would jiggle that is a referendum. It would jiggle things around within parliament and i guess the Prime Minister is looking for a majority in parliament so he can get, not only his brexit plan through, but the other many plans he has that we re the other many plans he has that were in the queens speech. You can understand the desire to have a clear mandate but it is hard to see how you would get that when the country is so divided. This will go on for a long time. We need clear policies that drive growth and and jobs. Look at things that really matter to communities and regions. We will see you back soon because i am sure this story will not be resolved quickly. Todays agenda is russells decision on an extension and parliament looking later at the possibility of a general election. Brussels. Now lets brief you on some other business stories a bbc investigation has found that Accountancy Firm ey covered up evidence of smuggling and laundering of drug money by an organised crime gang. The bbcs Panorama Team found the gang laundered money by selling 3. 6 tonnes of gold to the kaloti refinery in dubai. Both ey and kaloti deny any wrongdoing. British lawmakers have condemned the level of it failures at banks, warning financial penalties and more regulation may be needed. The report says the frequency of Online Banking crashes and customer disruption is unacceptable adding that Cloud Computing also presents a Systemic Risk for the financial system. Virgin galactic, the Space Tourism venture, backed by Sir Richard Branson will take off on to the New York Stock Exchange later on monday. The company, founded in 2004, has spent more than 1 billion developing its programme, which has been beset by delays and a fatal accident in 2014. A long lost painting by a celebrated italian artist that was found hanging in the kitchen of an elderly french woman has sold for 26. 6 million at auction, setting a new record. Christ mocked, by the pre renaissance artist cimabue, was discovered last month in northern france and we expected to fetch up to 6. 6 million at auction. Hsbc has reported an 18 drop in its Third Quarter pre tax profits as brexit uncertainty and the us china trade war weight on the banks two key markets of asia and the uk. Europes biggest bank missed analysts estimates, with a profit of 4. 8 billion for the three months to the end of september down from 5. 9 billion a year earlier. Rico hizon is in our Singapore Business hub. Sally. Tell us more. Disappointing numbers indeed and in the interim chief executive said parts of the banks business, especially in asia, held up well in a challenging environment in the Third Quarter. Asia, which generates the bulk of its revenues and profits, showed a before tax profit which climbed 4 from last year, with a resilient performance in hong kong, despite the ongoing protests. But in other parts of the business, he said hsbcs performance was not acceptable, including Business Activity within continental europe. Hsbc has been looking to step up its cost cutting initiatives and restructuring. No details as of yet but there are reports that the global and commercial banking business as may bear the brunt of the layoffs due to start in november, according to sources. The Financial Times is reported recently, said that mr queen had embarked on a plan to cut costs on businesses that threaten up to 10,000 jobs at the bank which employs around 237,000 people so we await the key announcement of its cost cutting and its layoffs. Await the key announcement of its costcutting and its layoffs. Thank you very much indeed. In the last few hours it was announced that argentinean voters have elected left leaning Alberto Fernandez as their new president. The change of government comes amid a deep economic crisis that has left a third of the population in poverty. Persistently high inflation has squeezed working class families while an Unemployment Rate of 10 has left many struggling to afford food and other essentials. From buenos aires, Daniel Gallas reports. Putting food on the table, notjust for themselves but for dozens of otherfamilies, this for themselves but for dozens of other families, this soup for themselves but for dozens of otherfamilies, this soup kitchen is run by volunteers in one of the pod neighbourhoods of buenos aires. Porous. Nothing here goes to waste. They set it up to cater for 70 local children. Today, they are serving over 200 meals, notjust of the children but to all of their relatives. , meet fruit and vegeta bles relatives. , meet fruit and vegetables are very expensive. We can barely afford any healthy food for our kitchen. Pastor, rice wheat is what we conserve. The problem is widespread. A third of all children in argentina now eat in a soup kitchen each day. Argentina is one of the worlds great food exporters but, just last month, Congress Declared a state of food emergency, meaning that, from next year, the government will be obliged to spend more on soup kitchens in places like here. Argentina is an agricultural powerhouse, it exports beef, milk and soy beans but, internally, prices are skyrocketing. The result is more poverty. 0ne prices are skyrocketing. The result is more poverty. One in every three argentina sedate cannot afford to pay for the basic cost of living. Many now live on the streets. Translation i eat only what people give me. If not, i do not eat. Sometimes it is a cookie, yoga, but ito give it to my children so they eat had and i put up with hunger because i am a grown up. Eat had and i put up with hunger because i am a grownup. The recession is expected to last well beyond this year. At least, with a new food emergency deal, people can expect more soup kitchens like this to eliminate hunger. Daniel gallas, bbc news. Lets have a look at the financial markets. They are all up at the moment. It would be a busy week. We will get results from alphabet, the owner of google. We have heard from hsbc already and we will get facebook results, apple, airbus, exxonmobil, bp et cetera. You can have a look at how the us ended the week on friday. Pretty robust. The smp 100 week on friday. Pretty robust. The smp100 very strong on friday but we have the Federal Reserve meeting on wednesday and a lot of speculation about what they are going to do. Instagram has told the bbc its extending a ban on graphic posts to include material about self harm and suicide, including pictures, drawings and cartoons. Its the companys latest response to public concern over the death of 14 year old molly russell, who took her own life in 2017 after viewing such content. Her dad, russell, travelled to california to press for urgent reforms, as Angus Crawford reports. Ian russell in the heart of silicon value. Valley. To get answers about what tech giants are doing on harmful content. Instagram, the main platform poly use, despite a crackdown on self pictures, look ha rd crackdown on self pictures, look hard enough and they are still there, graphic and dark. Today it revealed to bbc news, new tougher measures against a wider range of material. Images of method and materials used in self harm, that is a significant step forward. I am proud of that step forward. It will ta ke proud of that step forward. It will take time to implement fully throughout the product but it is also not going to be the last step we take. That is a new commitment, not just to we take. That is a new commitment, notjust to remove the graphic images of self harm but the dark memes and pictures about suicide, nurses, peels, razor blades. Success will not be measured in the words of the chief executive but whether, in time, generally instagram becomes a safer place for young people. Safer social media by design, a message embraced by a new generation of tech entrepreneurs. So some change in Silicon Valley but, for now, for molly, ian russells journey Silicon Valley but, for now, for molly, ian russellsjourney goes on. Angus crawford, bbc news this is the briefing from bbc news. The latest headlines is leader Abu Bakr Al Baghdadi has been killed by us forces but americas allies warn that the Islamic State group is not yet defeated. Argentinas left wing candidate Alberto Fernandez has won the countrys president ial election as the people vote to end austerity. And a state of emergency is declared across california as wildfires continue to spread, whipped up by ferocious winds. Now its time to look at the stories that are making the headlines in the media across the world. We begin with the arab news who say Islamic State founder and leader Abu Bakr Al Baghdadi blew himself up with a suicide vest as Us Special Forces raided his hideout in northwest syria. The guardian leads with brexit and the news the eu is preparing to sign off on a brexit extension to 31 january 2020, with an option for the uk to leave earlier if a deal is ratified. Thats according to a leaked draft of the agreement seen by the paper. The la times focuses on the wild fires raging throughout northern california. The paper says, the massive kincade fire is being fuelled by powerful winds as it continues its southwest march across sonoma county