Later well be live in davos where for the first time in the history of the event a chinese president will attend. Well be getting the inside track on what this tells us about chinas Global Business ambitions. And its being reported that flying cars could be about to take off for real. Today we want to know what sci Fi Technology you would like to see becoming a reality . Let us know. Just use the hashtag bbcbizlive. Good to have you with us. A warm welcome. Theresa may will today deliver a highly anticipated speech on the uks future outside the European Union. That will be in just a few hours. The speech will focus on Global Britain and how the uk can be an outward facing nation as it seeks new post Brexit Relations with its trading partners. Reports over the weekend suggest the british Prime Minister will use todays speech to signal the uk will pull out of the eu Single Market, although Downing Street described this as speculation. It was all over the papers on the weekend, various lea ks it was all over the papers on the weekend, various leaks of what her speech will reveal. This has had a huge impact on the value of the pound. On monday, the pound hit its lowest level for more than three months on the reports sterling dropping more than 1 to below 1. 20 before recovering slightly. The eu Single Market guarantees the Free Movement of goods, capital, services, and people but the uk government has indicated they will want to limit the movement of people as part of any brexit deal. Ca role Carole Walker has more detail. After months of pressure to tell us more about her brexit plan, theresa may will strike an optimistic note, telling us she wants a truly Global Britain, which gets out into the world. The Prime Minister may not be explicit but she will again signal that shes ready to take britain out of the european Single Market, and perhaps the Customs Union, too, in order to gain control of immigration and freedom from european law. I think its highly likely well be coming out of the formal structures of the Customs Union and the Single Market, just because thats the way we can really grasp the golden opportunities that brexit presents, not just for controlling immigration but also free trade opportunities. Shell tell eu leaders. But shell say she wants a new and equal partnership, declaring. Donald trumps offer of a quick, fair trade deal with the uk got the thumbs up from leading brexiteers, but whilst the President Elect said the uk was so smart to vote for brexit, those who disagree want britain to fight to stay in the Single Market. I think the Prime Minister must not wave the white flag and give up on our membership of the Single Market if she cares about britains future. If shes going to fight for britain and fight our corner, then she needs to fight to be in the Single Market even if we leave the European Union. She also needs to indicate that the final deal will be put to the british people. Theresa may will set out 12 priorities for a deal. But she faces two years of hard bargaining with 27 members determined to safeguard the future of the eu without britain. General motors is set to announce plans to invest about 1 billion in its us factories, according to the reuters news agency. The move is aimed at helping the firm create or retain more than 1000 jobs it follows recent criticism of the company by President Elect donald trump. In venezuela new larger Denomination Bank notes have been issued against a backdrop of spiralling inflation. The largest of the first three new notes is a 20,000 bolivar note. They were meant to be released in december and the delays have caused chaos as people queued for days to exchange their old bills. A south korean court will decide on wednesday whether the boss of samsung should be arrested on bribery charges. Lee jae yong is accused of paying around 36 million to organisations controlled by a friend of the south korean president. Its alleged that the de facto leader of samsung received favours that helped him gain control of the company. Two things are dominating business today, theresa mays speech and what is going on in davos. It is a big day there for other reasons but you found this story quite amusing, coming out of the swiss ski resort. Yes, somebody has decided to cash in on the low temperatures, they are given away free hats, seen as a good marketing tactic. I hope the hats have a nice bobble on the top, that is the trend. Also on the businesslike page, lots of information on what is happening with the e. On the Business Live page. Soon we will be speaking with the markets expert. Rolls royce is paying more than 800 million to settle a Bribery Probe with uk, us and brazilian authorities. The British Engineering group was accused of paying to win contracts in indonesia, china, brazil and other markets. Lets get the low down from Mariko 0yella are Asia Business hub. Such a well known brand name, some people are finding it shocking that they are paying such an enormous pine for dodgy behaviour . Critics have already come out to say that this deal shows that the uk government is not exactly serious about tackling bribery and corruption, but as you mentioned the agreements have been reached between the company and authorities in the uk and us. You mention china and indonesia, according to a joint investigation by the bbc at the guardian last year it identified last year that at least a dozen countries were identified where rolls royce had allegedly hired commercial agents to help secure high value contracts. The uk authorities started looking into this in 2012 with some deals dating back more than a decade. Now with these agreements it means that the suspension these agreements it means that the suspension over these agreements it means that the suspension over prosecution, provided that the company fulfils certain requirements. Thank you, mariko. Rolls royce making all the news for the wrong reasons last night and today. Japan had a tough time today, mainly because the yen has strengthened quite significantly for six days in a row versus the us dollar. Safe havens are in favour, the price of gold has gone up, as has the yen, that has Hit Exporters Trading in tokyo. The dow is down. Will the ftse 100 the dow is down. Will the ftse100 react when theresa may speaks . We will discuss that in a moment. We have uk Inflation Data coming out today which is very interesting given that lad mark carneys speech last night, the governor of the Bank Of England. Given that we had mark carneys speech. Lets look ahead to the day on wall street. It isa street. It is a shortened week in the us as monday was a market holiday. 0n tuesday Morgan StanleyWill Report Earnings and like us banks it is expected to have benefited from the volatile us markets around the president ial elections. The same thing will likely play out on wednesday when we hear from goldman sachs. We will also hear from citigroup on wednesday, the most international of the big us banks. People will be asking about the prospects for global trade during the presidency of donald trump, who has said that he will rework trade agreements. Ibms fortu nes rework trade agreements. Ibms fortunes seem to be rising from its cloud and Data Analytics businesses, but we will know for sure on thursday when they report. The weekends with the inauguration of donald trump as the next president of the United States. Thank you. Joining us is nandini ramakrishnan, Global Market strategist atjp morgan asset management. Thank you for coming in this morning. Sally was talking about sterling dollar, stirling had quite a sharp fall against the dollar yesterday, it is up slightly this morning, what factors are in play . The reality of brexiters coming forward with theresa mays speech today, there is nervousness and jitters in the market about what it means with the uk s nation ship with the eu under the parts of the world. Trade is such an important pa rt world. Trade is such an important part of the marketeer, currency is the way that the markets play out that nervousness. The governor of the Bank Of England, mark carney, spoke last night about what the Bank Of England might do in terms of interest rates, which is ha rd to terms of interest rates, which is hard to gauge. We will have the Inflation Numbers out in about 50 minutes. Your thoughts . A bit of a mixed bag, the high inflation is you would expect mark carney and the Bank Of England to tighten rates, then you have the other factor of brexit on the table weakening the pound, that inflation in the uk is 1. 296 pound, that inflation in the uk is 1. 2 at the latest region, expectations are for slightly higher. Factors in play are higher oil prices, a lower pound, that feeds into the british economy. He said the next move could be up or down, i read that and i thought it was not helpful, trying to plan ahead. It is difficult for businesses and consumers . Towards the end of the year because of how high inflation might get, when you look at some of what mark carney said, there is a lot of strength in the uk consumer and the Consumption Numbers are quite strong, people are still buying on the high street, ordering online and that kind of commerce is still going on. The next move for the Bank Of England should be up, but later in the year. Do you think we will stick at no point to 5 , which it is currently . Yes, and then maybe towards the ends of the year it might get higher. Do you think we might get higher. Do you think we might stick at 0. 25 . Remember that the Bank Of England can reduce quantitive easing and interest rates, it is watching the whole mix of things this year. Nandini, you will be doing the papers with is that the end of the programme, thank you. Still to come. China takes davos spotlight president xi jinping will today become the First Chinese leader to address the annual World Economic forum in the swiss resort. Were going to be discussing the countrys global ambitions later in the show. Youre with Business Live from bbc news. First news of a big deal in the tobacco industry. British American Tobacco has agreed the terms of a £40 billion deal for control of us rival reynolds, creating the largest listed tobacco firm. The uk company has been in talks with reynolds for months about buying the 57. 8 stake it does not already own. Theo leggett is in the business newsroom. Give us some more details . As you say, this deal has been in the thing for several months now and it is pretty easy to see why british American Tobacco is so clean on getting hold of reynolds, which is the maker of Camel Cigarettes is so keen on. Reynolds provides a good large chunk of british American Tobaccos annual profits, around 20 , so taking over the company as a whole, that is likely to go up. The United States remains the second most profitable Tobacco Market in the world after china, that sounds like Good Business as well. The reason the companies from other countries have been reluctant to ta ke countries have been reluctant to take control of American Tobacco makers is pretty clear, because there were litigation risks. A number of us companies were facing very large legal bills for their past record of how they marketed cigarettes. That seems to have gone away, to a certain extent. Then there is the e cigarette market, Electronic Cigarettes are becoming much more popular as governments start to cla m p much more popular as governments start to clamp down on other types of smoking and snuff etc. So vaping is becoming more popular, that is another potential advantage of the deer. Investors are not quite sure what to make a bit, shares were up yesterday evening, down at the opening this morning and now creeping back up again that is another potential advantage of the deal. Thank you, theo leggett from the business unit. I will play a quick word satiate a game with you, i say sausage rolls, you say. Greggs. Word association. Greggs has reported a strong end to the financial year, expecting full profits to be slightly ahead of expectations. You will remember last you that they opened 145 shops but they are a bit more cautious about they are a bit more cautious about the outlook for next year. Like many other retailers they are talking about an increase in prices in imports and concerns about inflation. You did that so well. The latest on greggs on business life, it is all that, regardless of the story. See you soon. Youre watching Business Live. Our top story, the british Prime Minister, theresa may, will give a long awaited speech later today setting out her strategy for brexit. In the speech she is expected to say she wants a full break from the European Union rather than a deal that leaves britain half in, half out. A quick look at how markets are faring. For london and for Currency Traders it is very much threading water at this point. The pound has gone up versus the dollar compared to this time yesterday, but it will be interesting to see what happens in the next few hours when she starts her speech which is take place here in london. The leader of the worlds second biggest economy is getting ready for a star turn at the World Economic forum in davos. Its the first time that xi jinping or any chinese president has addressed the global gathering and what he says about growth will attract a lot of attention. The country is keen to move away from heavy industry and sees tech as a good source of economic growth. It has launched an ambitious five Year Programme to boost its technology sector. There are around 780 government backed Venture Funds designed to boost innovation. Latest estimates suggest those funds have raised around 231 billion to pump into the sector. Dr kai fu lee is a former Vice President at google and now runs a Venture Capital firm sinovation which invests in start ups in china and the us. Welcome to Business Live. Thank you for joining welcome to Business Live. Thank you forjoining us from davos. So, president Xijinping Forjoining us from davos. So, president xi jinping will be speaking soon, what are you shope hell say . Well, i think with trumps election and brexit, the world is looking for leadership that will bring Back Globalisation and multilateralism and i dont know the Content Multilateralism and i dont know the Co Nte Nt Of Multilateralism and i dont know the content of president xi jinpings speech, but the fact that he is coming gives us hope that there will be strong leadership that will help globalisation continue rather than become stalled. China coming on to the world stage, just as this protectionist President Elect is starting his newjob in america at the end of the week and as were negotiating brexit, do you think that gives china an upper hand . Well, it is an interesting opportunity because china is now ready as very fast growing economy as well as a very strong tech sector. We at sinovation have invested in some of the Worlds Best Technology company and they are based in china and they are doing Face Recognition and we believe that tech readiness gives china an opportunity to take on a greater role worldwide. You, as a company, are focussed on china or the us when it comes to start ups and where youre investing. Are you concerned if President Elect trump does turn out to be fairly protectionist and anti china and how that will affect your business . Well, our investments are your business . Well, our investments a re 95 your business . Well, our investments are 95 in china. 0nly your business . Well, our investments are 95 in china. Only 5 in the us. So we think our exposure is fairly small. But nevertheless, we have, we bring a lot of positive benefits to china. Sorry, we bring a lot of benefits to the us. For example, one of our investments vip kid will bring 30 to 50,000 american teachers with additional income by Teaching Chinese kids. So we think there can be still win win, if there is growing protectionism on the us side. If you have got 95 of your start ups are in china, 5 in the us, is there a reason why youre not investing in europe . Us, is there a reason why youre not investing in europe . |j us, is there a reason why youre not investing in europe . I would love to learn more about the opportunities. There should be a lot of great tech companies. We know that for example in the uk, Artificial Intelligence is very advanced and it is we would be interested in looking at. What do you look for when you invest in a Tech Start Up . I looked at your portfolio and the companies you have invested in and they are extremely diverse. It is not a specific type of product from what i can see, is it about leadership . Is it about that kind of thing . Its first and fore most about people because we invest in the very early stage. When we go in, a Company Maybe worth only 5 million and when we exit hopefully it is 5 billion so those are the companies we target. First and fore most, the founders have to be very strong. They have to be great leaders. They have to have great leaders. They have to have great ideas and also great in execution. Secondly, we want to invest in areas that are rapidly growing. Trends that are not yet recognised, but will become much bigger. So we dont want to invest in companies to take more share from a known existing pie, but in areas that are not well understood, but have massive opportunity, Autonomous Vehicles would be a good example of that today. And what would be your advice to someone who is in a start up world as it were, we interview a lot of Company Bosses on this programme, they are quite small companies, innovative companies, whats your advice to them and just to say advice to you, watch our show if you want to know about good European Tech start ups well, i think for any start up, having a big market is important. Thats why us and china have some unique advantages. If we look at the greatest markets in the world, it is really the English Speaking market and the Mainland China market because they are large enough for any company to snowball and increase their Venture Capital intake by showing that the Market Opportunity and potential is there. So from europe, if it is from the uk, i would suggest look at English Speaking markets as a way to boot strap your company. If its from smaller countries or non English Speaking countries, i think it is focus on a Core Technology that can easily go into the us market or the china market. Thank you very much for your time this morning. The Chinese Premier will be speaking in 20 minutes p go and get your seat some breaking news. This is comments from the austrian Finance Minister saying it will take five years for britain to fully negotiate its exit from the European Union rather than the two years more than that is more often cited. This is the austrian Finance Minister who said this earlier today. He said nobody knows how exactly it will happen. Its not clear what article 50 means. Its not clear if it is possible to negotiate in parallel, the exit and the new contract or not. So really saying there is a lack of clarity. Thats a direct quote from him. It just brings to the fore again, doesnt it, that there is a lot of uncertainty about how this process will actually take place despite the fa ct will actually take place despite the fact that theresa may may well be delivering her speech with her 12 key points. There is a lot going on in term of the legality across europe, but also here in the uk with our own parliament. In a moment well take a look through the business pages but first heres a quick reminder of how to get in touch with us. The Business Live page is where you can stay ahead with all the days breaking business news. Well keep you up to date with all the latest details with insight and analysis from the bbcs team of editors around the world and we want to hear from you too. Get involved on the bbc Business Live web page. On twitter were at bbc business and you can find us on facebook. Business live, on tv and online, whenever you need to know. There you go. You have got no excuse we have got a fun story in the business pages. Do you remember chilly chilly bang, bang. Airbus ceo says Flying Car Prototype will be ready by the end of the year. Chitty chitty bang bang, you remember that. It should alleviate traffic and congestion in cities. From a macroeconomic prospect this isa from a macroeconomic prospect this is a Cool Manifestation this infrastructure theme. People putting money and time into developing new products that help the consumer and the urban dweller. If it works, it should be exciting. Id like to take a ride in one. We asked for tweets, what would you like to see as a sci fi thing come real, what would you . A flying car would be cool. Maybe like a james bond can sneak up on your traffic and enemies. Id like a cape like harry potter has so ican be like a cape like harry potter has so i can be invisible. A viewer says, jet i can be invisible. A viewer says, j et pa cks i can be invisible. A viewer says, jet packs so i can fly. We have got one for teleportation technology. A viewer says, i waited 50 years since james bond and they still havent arrived. I would like time travel. Just press pause so id get more sleep a hover board. We have got hover boards. They overheat. Moving on. We have got. We were talking about mark carney, werent we . We were talking about it earlier and how difficult it is . A bit of a tightrope. The key message for him was that there are a lot of good parts of the uk economy, some of the things we track as i was mentioning earlier is the consumer and one of the positives is that more Consumer Debt has come out and that looks a bit, at face value maybe scary, but thats the payment on the debt is a smaller percentage of income from consumers. It is a type of inflation as well. It is not the right type, is it . Or is it the right type . What imean by is it . Or is it the right type . What i mean by that, it isjust Energy Prices going up . It is that kind of thing. It is not everything going up because of demand . Thing. It is not everything going up because of demand . Thats a huge pa rt because of demand . Thats a huge part of the Inflation Dynamic at the moment. You would, ideally like prices to go up because people are willing to pay more. Businesses are willing to pay more. Businesses are willing to pay more. Businesses are willing to pay more. Is it actually more, it costs more because the pound is so low and oil prices are so high . These are the things that we will have to wait and see in the reports that come out this year. Thank you very much forjoining us this morning. Thank you too, for your time. It has been good fun today. Wells you tomorrow. Join us for more Business Live. Im sure well been in davos tomorrow as well. See you soon. Good morning to you. The weather is very quiet on the Weather Front today. Just a lot of cloud across the uk and thats how its going to stay through most of the day and much of this week. The reason for it is this big area of High Pressure. Not much wind there. The cloud is kind of stuck in this area of High Pressure and it is stretching from russia right across to the uk and into the atlantic. This is what the Satellite Picture looks like right now as you can see the thick cloud. The wind is still just about drifting out of the continent and affecting east anglia and the south east. Thats a cold direction. So that means that the weather will remain chilly here, but you will get sunshine. You can see that Slither Of Brightness from east anglia all the way down to the isle of wight, but for the rest of the uk, it will stay cloudy. This morning, in the Western Isles of scotland, it was around ten or 11 celsius, thats how its going to stay. No change in the temperature for you here. It sometimes happens in the winter. The same goes for northern ireland, around ten or 11 celsius and across most of england and wales, it will be around seven to nine celsius. There will be some drizzle and thick cloud around and a bit of mist and fog maybe hovering around in one or two hilly areas across the north. Look at that, east anglia and london and the south east all the way to southampton should get sunshine, but only around four or five celsius after that frosty start. There is anotherfrost or five celsius after that frosty start. There is another frost on the way this coming night. Again, across this part of the country the maybe a larger area waking up to frost this morning. It could be as far south as south western england, but to the north of that, it stays mild, newcastle at seven celsius, not far off that in belfast and in glasgow. Wednesday, itself is looking chilly again across the south, but there will be sunshine around. Sunshine stretching from london through portsmouth all the way down to plymouth. Again northern areas, the further north you are, the cloud yr and the milder it gets and very little change on thursday for the bulk of the uk, but i suspect the clouds will increase in the south. So we wont be getting as much sunshine in london and in portsmouth. The outlook for friday and saturday, very little change. The sunshine will come and go and the clouds will come and go as well and temperatures not far off the average. A quick look at the weather across europe. You can see unsettled across europe. You can see unsettled across the mediterranean, rain and wind and Mountain Snow across italy. Bye bye. Hello, its tuesday, its 9 oclock. Im victoria derbyshire, welcome to the programme. Brexit means brexit. Brexit means brexit. Brexit means brexit. Brexit brexit means brexit. Brexit means brexit means brexit. Brexit means brexit means brexit. And this morning we may get a little bit more information about whether brexit does indeed mean brexit. And find out exactly what that famous phrase means. A blueprint for brexit or a plan with no policies . We will get some detail. We are leaving the Single Market, but there is an awful lot theresa may aint going to tell us. Plus George MichaelsChildhood Friend tells this programme he believes a cocktail of drugs and Anti Depressants were responsible for the singers death on christmas day. Hard drugs had been back in his life, it was not heroin