virtual reality check. it's the ‘next big thing' that never quite took off. so can facebook‘s new gadget finally bring vr to the masses? plus, the art of ditching the deal. could president trump's new strategy on iran mean the return of us sanctions? we get the views of an iranian investor. welcome to world business report. i'm sally bundock. also in the programme samsung boss jay y lee arrives at seoul high court for the first hearing of his appeal case against a five—yearjail term for corruption. we'll have the latest. we start in sanjose california where facebook boss mark zuckerberg's announced plans for this — a virtual reality headset that you can wear anywhere and doesn't need to be plugged into a computer. the oculus go will cost $199 and be on sale early next year. facebook is hoping the gadget will finally kick—start mass interest in virtual reality, and get a billion people using the technology. fans of vr think it can be used for anything from gaming to social media, communication or business. the reality is though, the technology has been around for a while and it's been very slow to catch on. in american football there is a plan known as the hail mary and that is when they have run out of options and they throw the ball downfield in the desperate hope somebody might catch it. facebook, it might be said, has thrown a hail mary. catch it. facebook, it might be said, has thrown a hail marym catch it. facebook, it might be said, has thrown a hail mary. it is a headset that does not require you snapping a phone or attaching a cable. we are calling it oculus go and the price is only $199. until now, the cheapest way to get facebook virtual reality was to buy $129 worth of gear but you needed to have an expensive samsung smart phone. $199 may be the sweet spot that makes it available to the masses. oculus go is the most accessible biak experience ever. masses. oculus go is the most accessible biak experience evenm has now been over three years since buying it for over $2 billion and yet we are no closer to virtual reality being a main product. we believe that one day almost everyone is going to use virtual reality to improve how we work, played and connect to each other. we know that the most important technologies do not start off mainstream. not everyone in the tech world is convinced we will all be wearing vr headsets. also on wednesday, apple boss tim cook was speaking at an event in oxford here in the uk. he talked about the huge potential of augmented reality or ar — superimposing computer information on the real world — using holograms or like the system used here in pokemon go! but he was very dismissive of virtual reality i think ithinka i think a can help amplify the human connection. i have never been a fan of vr like that because i think it does the opposite. there are carefully some cool niche things fall vr but it is not profound. a art is profound. interesting, very different pages for the bosses of facebook and apple. let's go to asia now — and a courthouse in the south korean capital seoul. you can see jay y lee — samsung's vice chairman and heir to the samsung empire — he's arrived to begin his appeal against a 5 year prison sentence for corruption. let's talk to our asia business correspondent karishma vaswani. all eyes on him. samsung is such a huge part of their world. what is the latest? samsung is thought to make up at least a quarter of south korea's gdp so it is a massive family run conglomerates in the country and in this case, the appeal and the trial before it has shown a spotlight on how powerful these family run conglomerates are. today, jay y lee entered a packed courtroom in seoul. this is his first public appearance in this appeal, looking extremely sullen, dressed in his typical backseat. he did not —— dark suit. he did not say very much. he presented his name and date of birth to the courtroom. at the heart of all this is whether he is indeed guilty of what the court found him guilty of what the court found him guilty of what the court found him guilty of back in august, saying he was guilty of bribery and was sentenced to five years in prison, of giving donation, bribes, a scandal which brought down the then president, president park, and engulfed the country into this anti— cable waiver. this case itself is unlikely to have a decision until early next year and whatever it is, it is most likely to be appealed again. it is a long—term court case with all eyes on samsung and how it functions without the leader of its company at the helm of. very interesting. we will keep an eye on that. we are also talking about president trump and iran — he‘s due to give a speech outlining a new ‘overall strategy‘ on relations with tehran. specifically whether to decertify the agreement in 2015 under which iran froze its nuclear programme in return for the lifting of sanctions. the iran deal was one of the worst and most one—sided transactions the united states has ever entered into. frankly, that deal is an embarrassment to the united states, and i don‘t think you‘ve heard the last of it, believe me. kiyan zandiyeh is iran fund manager at sturgeon capital based here in london. some trump bluster. we are used to hearing these comments of the question is, will he go ahead today and the certified this agreement and if so what does it mean? the process is based on legislation passed in the us in 2015, and it is about whether to keep sanctions on iran or not. since coming to office he has twice certified these but it is likely he will not do it today. there are three potential routes — they do nothing, and sanctions stay as they are. relief for rerun. —— iran. reintroducing sanctions but the europeans are lobbying for the not to happen. and another is to stop the process preventing trump from the certifying in the future. if it is the third case, it means every 90 days he does not have a job to do and takes it off his agenda and therefore he is not in that position any more were he is doing something he said he would not do. you invested in iran since sanctions we re you invested in iran since sanctions were lifted. what has changed? from the domestic perspective, the right protections already in place for people looking to invest in the market. there is an article, a foreign investor protection which is a government guarantee that capital can be given back. the central bank, for example, has been given a lot of leeway to reform the bank to have it in line with international standards. all listed companies need to be following accounting standards. all to make it easy for foreign investors to access the market. companies like bowing are huge beneficiaries of the lifting of sanctions. —— boeing. huge beneficiaries of the lifting of sanctions. -- boeing. if you look at iran, a population of 80 millions, 65 cent under the age of 35 top and educated population. gdp per capita above china. it is a burgeoning economy. and it has a middle class. it is one of the last areas in the world which is untapped with real growth potential. they are seeing that an acting on it. absolutely fascinating. we will keep a close eye on what mr trump does later, as later. the uk government will publish a draft law later to cap energy prices for millions of customers. it would affect those on standard variable tariffs — the more expensive default rates that consumers revert to once a fixed term deal has expired. ministers estimate some 18 million uk households could benefit. the initial announcement by the prime minister theresa may last week wiped more than a billion dollars off the shares of top uk energy providers centrica and sse. markets today... in asia they are having a good session. the snp 500 closing at a record high. the nikkei the highest since 1996. a lot of reaction of the federal reserve minutes released yesterday that shows some serious caution still in the us about when the central bank might raise interest rates so the dollar has come off, falling on financial markets are little bit, causing the yen to strengthen. you can see the record close for the snp 500 last night. i will be back in a moment with the news review. see you $0011. tougher sentences for those involved in plotting terror offences will be unveiled today in response to the changing nature of attacks. according to the sentencing council, current legislation imposes lesser sentences on those who plan rudimentary plots with cars or knives instead of bombs. dominic casciani reports. an unprecedented year of terrorist attacks. five killed in westminster, for on the bridge is a man turned a car intoa for on the bridge is a man turned a car into a weapon. the fifth week of, stabbed as he tried to stop the terrorist entering parliament. 0ne of five major incidents with police saying they have stopped at least more. the council of seniorjudges and advisers say terrorism suspects are moving more quickly to attack than ever before, turning everyday items into weapons. it is recommending longerjail terms items into weapons. it is recommending longer jail terms for those guilty of preparing acts of terrorism. we simply looked at the experience in this country in recent months and realised the nature of the terrorist threat has undoubtedly changed in recent times. we felt it important to react to it and reflect these different type of offending. it is much more home—made than some of the terrorist schemes that we have had to deal with in the courts in the past. two men are ready on life sentences, they had hit weapons ina carand life sentences, they had hit weapons in a car and indoctrinated each other. these proposals will apply it most to lesser figures in such plotting and those beginning to plan an attack. the sentencing council says the risks are too great not to lock them up for longer. dominic casciani i , bbc news. this is bbc news. the latest headlines... at least twenty—four people have died in wildfires that have devastated california‘s wine country. thousands have been left homeless by the twenty—two blazes being fanned by high winds. they are spreading quickly and unpredictably. officers have restored order after a serious disturbance overnight at the top security long lartin prison in central england. around eighty prisoners are understood to have attacked staff — some of them using pool balls. the new york police department are searching for evidence in accusations made by women against harvey weinstein. spain‘s prime minister wants clarification from catalonia within five days on whether or not it has formally declared

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