And on that note, this week weve been asking for your questions about brexit we plan to answer them later on in the show. Keep them coming in. Just use the hashtag bbcbizlive. Welcome to the programme. With article 50 now triggered, negotiations on the uks departure from the European Union have begun. But this is notjust about what britain wants the brexit deal depends significantly on what the eu is prepared to give. In the next few minutes Eu Council President donald tusk will present the european guidelines for the brexit negotiations. So, what kind of terms can we expect from the eu . National parliaments of the eus 27 Member States will have a say in any future eu uk Free Trade Deal, plus consent by the European Parliament. Any future Free Trade Deal between the European Union and the uk is highly unlikely until the United Kingdom leaves the eu in 2019. There are Three Million eu citizens currently in the uk. The eu will want them to stay, keep theirjobs and have a right to health care. In return, the eu is expected to guarantee the same for the approximately 1 million britons in eu Member States. Questions remain over what kind of deal the City Of London can expect in the future. At stake are so called Passporting Rights that allow banks with a base in the uk to access customers and Financial Markets in the eu. The loss of Passporting Rights could see us orjapanese banks leaving london. Then theres the issue of whether britain will pay an exit bill for leaving the eu. One figure thats already been talked about is 60 Billion Euros something that the uk has said it wont sign up to. Before i introduce our guest, we are getting some lines in from malta. Euuk getting some lines in from malta. Eu uk Free Trade Deal cannot offer partial Single Market access and must prevent physical, social, environmental dumping, these are some of the eu guidelines we are hearing at the moment. Most importantly, eu uk Free Trade Deal cannot offer partial Single Market access. Lets get more on all of this. Claude moraes mep is labour member of the European Parliament for london. Maria demertzis is the Deputy Director of bruegel, and shejoins me now from brussels. Hello to both of you. Claude, lets start with this, i guess no matter what side you are sitting on on this fence, a trade deal needs to be done. Can it be done in that two year time frame . Done. Can it be done in that twoyear time frame . No, that is the simple answer. From the inside, i chaira simple answer. From the inside, i chair a committee simple answer. From the inside, i chaira committee in simple answer. From the inside, i chair a committee in parliament, we have a say in this, a yes or no vote at the end, and we know this is about the divorce deal first and what you will hear from donald tusk is interesting, that initial leak that you got from malta indicates that you got from malta indicates that there will be more on trade than we thought, that is interesting. It is interesting they are talking about the Single Market. What i expected was more on the sequencing, the timetable. Quite disappointing, drive response to theresa mays letter, really talking about the fact that it would be the divorce dealfirst, 18 months, five months of messing around preparing for parliamentary votes, the yes or no, dealing with all of the ratifications from parliaments around the eu, but in fact it looks like there will be a little bit more about what happens to the trade deal after the divorce settlement, partial access, how we have access to the Single Market. That is critical to the United Kingdom because the divorce deal will be tough and painful, a bit more complicated than people think, but what will happen afterwards will be this critical thing off, what kind of deal do we have with the rest of the Single Market . All this rubbish before in the referendum about, we will have a trade deal with germany, people realise now it is a trade deal with the rest of the eu, that means the rest of the Single Market. That will be hugely complex and it looks like from this initial leak, if youd like, that there will be something said about that from donald tusk. More lines coming out, the eu will do all it can to reach a Constructive Brexit settlement with britain, but will also prepare for a possible failure to reach a deal, this again is from the draft. Again, very interesting, very interesting. Looks like it will be a much more frank response than try, because of course there is a whole spectrum of responses that this could have been. Donald tusk has a whole range of emotions, and it looks like it will bea emotions, and it looks like it will be a bit more frank and honest, and thatis be a bit more frank and honest, and that is good because we need to hear that, because the letter in itself from theresa may, the tone was a bit more conciliatory, International Security in that letter was probably unwise for many reasons, we could go into that but probably dont have the time, but in many ways the response from donald tusk needs to have more information, it seems to have more information, it seems to have more information, it seems to have more light. The British Public need to hear more about what the 27th think. Claude, we appreciate your time. No doubt we will speak to your time. No doubt we will speak to you soon, this is bound to go on the Deputy Director of bruegel is backed joining us now from brussels. We are hearing that the eu wants to do all it can to reach a constructive settlement but will also prepare for a possible failure to reach a deal. How realistic do you think it is that we will reach a deal in two years time . |j you think it is that we will reach a deal in two years time . I think we will reach a deal but two years is really pushing it. Typically trade deals take longer than that, and this is a complicated one, and before we even begin to discuss a trade deal we have to discuss a divorce. As we expected here this morning, first we will have to discuss the terms of the divorce before we can begin the long running relationship between the two. The relationship between the two. The relationship needs to be constructed so relationship needs to be constructed sol relationship needs to be constructed so i think once we go past that first hurdle, that first hurdle of disappointment that we are doing this, i think in the longer run logic will prevail and we will eventually reach a deal. The question is whether we can do it in two years or not, i think that is difficult but by that time everybody will see it is in everybodys benefit to arrange a good deal and prolong the process for as long as it takes. There are two issues at sta ke, it takes. There are two issues at stake, the exit bill which needs to be negotiated and the trade agreement the eu and uk will have. The uk wants to negotiate both concurrently, it has been made clear by eu members that they want to sort out the exit bill first and trade will come after. Do you think the uk will come after. Do you think the uk will get what it wants . |j will come after. Do you think the uk will get what it wants . I dont think so, the most important hurdle for that is because france and germany are now in electoral mode so the biggest countries are not really engaging in the process. They will only start engaging and providing more direction on where we are to go at the end of september when the elections are behind us. Right now i think the European Commission is really in the driving seat and that implies they will have to follow the sequential approach which is first the brexit bill and then the future relationship. 0k, maria, thank you very much forjoining us this morning from brussels. Are you tired of brexit already . Never iam never i am lets look at other headlines from around the world. South africas Finance Minister Pravin Gordhan has been sacked by president jacob zuma after days of speculation that rocked the countrys markets. Mr gordhan will be replaced by malusi gigaba. Mr gordhan has been seen as standing up to president zuma in cabinet and has warned against corruption becoming rampant. Hsbc is to let customers choose more non gender specific titles for their retail bank accounts. Instead of mr, mrs, ms or the gender neutral mx, customers can choose from nine titles including m and misc. The prefixes are designed to give non binary people more choices if they dont want to be identified by gender. Dutch prosecutors have announced theyve launched an International Hunt for people seeking to hide assets and evade taxes after receiving a tip off about undisclosed accounts at a swiss bank. Coordinated raids began on thursday across europe. Millions of euros worth of paintings, gold bars, cash and other assets had been seized from holders of several of the 3800 accounts at the swiss bank, which she would not name. To asia now, where theres more evidence chinas economy is bouncing back. Mariko oi is in singapore. Hgppy happy friday this is interesting, because the several years beijing has been working hard to rebalance the economy, not to be the worlds Factory Floor and sort of become more service driven, but we are seeing activity, good activity, on both of those sides . Indeed, Factory Activity coming did a lot stronger than economists were expecting, and in recent months we have had strong data from china, all because of the housing boom that china is seeing, as well as a strong investment in infrastructure by the government, that is why we are seeing a lot of Activity Notjust in factories but also construction, as you mentioned. But there are major cities implementing Cooling Measures to calm the Property Market because there are concerns that an asset bubble might be forming, and of course on the export front, the trade front, the us president , donald trump, has been repeatedly criticising china, overnight he tweeted about it again and head of his meeting with the chinese president shijim payne, so his meeting with the chinese president shi jim payne, so there are concerns about whether this current growth is sustainable. Thank you very much. Lets see how the markets have been getting on. The mckay and the hang seng closed down ever so slightly, a bit of a rally on wall street, inspired by better than expected uk Economic Growth figures. Asian investors waiting to see what will happen now at Donald Trumps summit in china next week. South africas brand plunged after jacob zuma sacked his Finance Minister. Looking at the European Markets, we should be able to see, i can tell you they are a bit down, some figures coming out in europe today, Fourth Quarter uk gdp figures, the last revision for those out, we will be waiting to see those, European Market waiting to hear, like the rest of us, what donald tusk has to say. Dom was laughing at you good to see you. We have just finished the third period, and what is stonking period it was. Todayis it was. Today is the last day of the quarter, Global Stock Markets will be up by about 6 , the us stock market, about half of the global total, is up just a little market, about half of the global total, is upjust a little bit market, about half of the global total, is up just a little bit less than that, but it has been a pretty good quarter, it has ended with people being a bit worried about delivery in america but fundamentally things are growing pretty nicely, we expect Earnings Growth in this First Quarter of about 10 in america, that is twice the Earnings Growth that we had in the Earnings Growth that we had in the Fourth Quarter of last year. Briefly, because i know rachel wants to talk about the pound, but is this also a case of people throwing money into the markets because it has the best returns . I think you are right, in an environment where Interest Rates are beginning to edge higher, fixed income bonds dont look so attractive, cash certainly doesnt look attractive, where else would you put your money . You are right, i do want to talk about sterling. A lot of traders this week have said sterling will be the barometer for brexit, that is where we look, if the uk is perceived at getting what it wants, sterling will rise, if not it wants, sterling will rise, if not it will fall, but it has a range at the moment. The Currency Market is a lwa ys the moment. The Currency Market is always where uncertainty emerges, we saw that last summer after the brexit vote and throughout the second half of the last year. So i think the next two years are clearly going to be very uncertain, very difficult for britain and for all uk assets, so if you are thinking about which way does the pound go, it is more likely to fall a bit than rise a bit, but the announcement, the implementation of article 50 this week had no effect on the pound at all. It feels like it is in a range. A bit overdone, do you think . The fundamentals havent changed, good economic numbers, the fifth biggest economy in the world. That is absolutely right, the fundamentals havent changed but you ask any economist, they look over the next two years, growth is probably going to slow, inflation is probably going to slow, inflation is probably going to rise, that is not a brilliant environment. Still to come. Weve been looking for your brexit questions this week and our Economics Correspondent Andrew Walker will be here to answer them. Youre with Business Live from bbc news. The Hospitality Sector has warned it faces a shortfall of 60,000 workers a year if immigration from the European Union is too tightly controlled. Staff from the eu make up nearly a quarter of alljobs in the sector. The British Hospitality Association said that thousands of businesses are facing having to drastically reduce their dependence on eu workers. That link was very poorly written ufi ibrahim, chief executive of the British Hospitality Association, joins us now. Great to have you with us. I was rather astonished at this, i read a report that 75 of waiters and waitresses, certainly in london, from the eu . yes, actually the figures show some very important figures show some very important figure is notjust figures show some very important figure is not just for figures show some very important figure is notjust for london and urban environments in the uk but across the country. The dependence of our industry on eu workers and the contribution they have made a very significant. Where are the english workers, the british workers . Is it the type of work that they dont want to do . Lots of people, especially young, are out of work but not choosing to go into that sector . We have record levels of low unemployment in the uk at the competition for what is becoming a scarce resource is intense. As we go forward as an industry we have said publicly that we will up industry we have said publicly that we willup ourgame, industry we have said publicly that we will up our game, rump of all existing efforts. 0ne we will up our game, rump of all existing efforts. One thing we have to do in the uk is to tackle the perception of careers in our industry, which is not necessarily the same as it is in france, switzerland, austria or germany where Hospitality Careers are seen asa where Hospitality Careers are seen as a career of choice. How can you change those perceptions if people dont see it as a progressive career path . We will have to focus particularly on the next generation, talking about going to 11 year olds, children. What we want is, when asked, the child to say. As many times as a child says they want to bea times as a child says they want to be a doctor, firemen or teacher, we wa nt be a doctor, firemen or teacher, we want them to say i want to run a bar, iwant want them to say i want to run a bar, i want to be a hotel manager, restau ra nt bar, i want to be a hotel manager, Restaurant Manager or nightclub manager. I am sorry, we are out of time, ufi ibrahim, the chief executive of the British Hospitality Association. Thank you for your time. Youre watching Business Live. Our top story. You cant escape it the eu has published Draft Guidelines on how it intends to negotiate britains departure from the blog. There is an indication that the eu was ready to talk to britain on a future trade deal before the two sides agree that final terms on brexit. It said britain would have to show sufficient progress on its departure settle m e nt sufficient progress on its Departure Settlement in a first phase of negotiations and eu states could Launch Trade Talks in a second phase. Five indian banks are to merge with the countrys largest bank the state bank of india, or sbi to create a super bank. The government expects the merger to create 200 million in cost savings. But is consolidation the answer for indias fragmented Banking Sector . Sameer hashmi takes a look. Hsbc, bank of china, bnp paribas, jp morgan. They are some of the largest banks in the world. Now when indian banks in the world. Now when Indian Bank Willjoin their ranks. The state bank of india, indias largest Public Sector banks, is merging with five subsidiaries to create a mammoth bank with 211,000 branches and 500 million customers. Banks are often measured by the value of their assets. This merged bank will have assets worth 550 billion. To put that into perspective, the new merged entity will be five times bigger than indias next largest bank. The problem in india if there are lots of small banks. Far too small to break even, let alone become profitable. For too long many have been weighed down by not performing assets and bad loans, which has hampered the banks ability to give loa ns to hampered the banks ability to give loans to other businesses, which in turn affects the economy. By coming together, these five Smaller Banks will be able to serve customers of the growing economy better. They will be able to give credit easily while trimming costs and cutting losses. Consolidation looks like a big option to clean up indias banking system. There you go. And now lets get the inside track on brexit. This week the uk triggered article 50, starting the process of the uk leaving the eu. Two years two yea rs now two years now to, as they keep calling it, talk about the divorce. Negotiate the divorce. Yesterday the British Government outlined how it plans to transfer thousands of pieces of European Union legislation into british law. The great repeal bill will give parliament or the devolved assemblies the power to scrap, amend or improve eu laws. Lets get more with our Economics Correspondent Andrew Walker. You are all over this . You are all over this . You will be in a minute we have the questions we have been asking you all this week. Lets get straight into these, and thank you for those. Lets start with david who says what happens if there is no agreement two yea rs happens if there is no agreement two years after article 50 is triggered . 0ne years after article 50 is triggered . One of two things, there is an option in article 50 for this two year period to be expanded, it has to be agreed unanimously by the departing country, britain, and by all the remaining ones. If at the end of that stage they think it is in their interest to extend the negotiations they can do that. What it would mean would be that, for about what that extension is, the european treaties would continue to apply to britain for the extended period. The other possibility is specified in that article is simply that the treaties cease to apply and britain would cease to become a member. What would that mean in terms of International Trade . If there is no agreement it simply means that britain falls back on what is called World Trade 0rganisation relationship with the European Union, meaning that british exporters would place exactly the same kinds of barriers, including tariffs, that are faced by exporters in the united states, china or whatever british exporters would face. The average eu tariffs is right below but they are pretty high in some areas, particularly agriculture, dairy produce, meat. There are some very high terror in meat. And relatively high is the motor industry, 10 is the figure. There is also the flip side, europe would have the terrific as well . Germany would be hit hard . That would be a decision for the British Government, wooded copy, paste and applied the same tariffs currently applied the same tariffs currently applied to third parties stuff . Would it copy, paste and apply . But they could charge lower turrets, which would go down well with third parties but perhaps not so well with some of the affected businesses in the uk, but it is an option. Another question from david wright about access to health care, will the European Health insurance cuts still be valid, post brexit . Those cards we are told to bring with us. This is a theme that comes up in quite a lot of the questions, it depends on the outcome of the negotiations. That is certainly something to be looked at in the course of these talks. I would note that the card currently applies to a number of non European Union countries, those in the European Economic area, and also switzerland. I will stick my own personal neck out and say i would be pretty surprised if it does not end up providing coverage to british citizens, but you never know. What about danish bacon . trine from copenhagen said if there was no trade deal, no more english brea kfast, trade deal, no more english breakfast, which was invented to sell more break in to the uk Exclamation Mark sell more Bacon Excavation at the blog there is a british breakfast of which bacon is a very important part, the short a nswer a very important part, the short answer is it will not mean the end for the british breakfast. But in that scenario of crashing out onto so called word World Trade 0rganisation terms, there would conceivably be a tariff on imports of danish and, indeed, bacon from other parts of the eu which might mean that traditional english brea kfast was mean that traditional english breakfast was a touch more expensive. Filler in liverpool says will uk stu d e nts filler in liverpool says will uk students averages traits to work in eu countries fionnuala in liverpool. Again, it depends. One of the key red lines in these because the key red lines in these because the asians is increased control over the asians is increased control over the Labour Market restrictions, tickly on the rights of eu workers to work here, it would not be surprising if ever corresponding restrictions one of the key red lines in these negotiations. We do not know until the negotiations are done. Andrew walker, thank you. Thats it from Business Live today. There will be more Business News throughout the day on the bbc live web page and on World Business report. Goodbye. Good morning. The weather is a little bit mix this morning. We have already had some rain across Western Areas of the uk. That rain will continue to be hit and miss for another few hours or so, but in the afternoon i think most of us should get at least some sunshine. Earlier, you could see quite heavy rain for a time crossing northern ireland, Western Scotland and more patchy further southwards but it drifts slowly north and mrs east anglia and the south east altogether, so here it will stay dry for the rest of the day, certainly into the afternoon and evening. The Western Areas keep catching pockets of rain. Around apm, when isaac pockets of rain i mean little splashes, it is around this morning, it will clearfor a time and come back again and then clear away. Western areas, take a brolly. Central and eastern areas into newcastle, a fine afternoon. Not as warm as yesterday but pleasa nt not as warm as yesterday but pleasant enough, 17 in london, maybe 13 further north. The far north of scotla nd 13 further north. The far north of scotland hangs onto the rain and it will be cool, only around 10 degrees in stornoway. This evening, the rain d rifts in stornoway. This evening, the rain drifts northwards. Missing these eastern areas again. If you are very unlucky you might catch one but most of the showers, certainly across Western Areas. Tonight will be a lot fresher than last night, in some rural areas it could be as low as 5 degrees. A real mixed bag on the way tomorrow, lots of april showers, the 1st of april, no joke, some sunshine round, but i suspect that coastal areas would stay dry or through the day, so the april showers will form inland but coastal areas will be mostly dry. 0n inland but coastal areas will be mostly dry. On sunday a fine day, the showers are gone. We have waved goodbye to them. An area of high pressure, the winds blow around. Lots of light winds, sunny skies and fine for coastal areas. Coastal areas, both saturday and sunday, might get away with fine weather. Goodbye. Hello, its friday, its 9am, im Victoria Derbyshire welcome to the programme. A longer wait for routine operations in england. Nhs bosses say its a trade off for improvements in other areas. There are a significant proportion of people who dont need to be there, who dont want to be there, and if we could get them out that would free up Something Like 2000 to 3000 beds in the nhs, which can be used more effectively for providing quicker elective surgery. Will tough new sanctions against adults who send explicit messages to children be enough to stop the problem of grooming . 0ne one woman tells us what happened to her. Didnt want my dad to lose a friend. I didnt want to cause trouble and, like, not be believed. But yeah, i knew i had to say something. And well have a Special Report on why some young voters in france