European markets looking like this are to be open. We will get an expert view on what is moving the number is lower and why. And well be getting the inside track on a hot weather treat ice lollies. But while youre enjoying the treat, what happens to the wrapper . Today we want to know some cash starved churches are turning into Co Working Spaces. Is this a good idea . Should sacred spaces become offices . Let us know just use the hashtag bbcbizlive. Welcome to the programme. We start in italy, where the deadline for Political Parties to form a new government is now just hours away. If they fail a snap election would follow. The five Star Movement and the Democratic Party are still in talks about forming a coalition after they agreed that Giuseppe Conte should stay on as prime minister. All this comes at a time when europes fourth biggest economy continues to struggle and the region is facing a slowdown. Italy currently has 2. 3 trillion worth of public debt, which is equivalent to 133 of its overall gdp. Italian banks are most exposed to any default, but banks in france, germany and the United Kingdom are also at risk. The Italian Government is forecasting very moderate growth of only 0. 2 for this year. It follows a recession in the second half of 2018 from which the country is still recovering. But a major problem for anyone in power is the countrys massive youth unemployment rate, which currently stands at a huge 28. I . With me is andrea iannelli, investment director, fidelity international. Good to have you with us. Ijust wonder, in your view, good to have you with us. Ijust wonder, in yourview, how good to have you with us. Ijust wonder, in your view, how crucial it said that these two parties agree a deal . What would be the impact if there were a snap election on italys economy and finances . There were a snap election on italys economy and finance57m wouldnt be good news if we were to have a failure in the negotiations and elections in october because, first of all, they increase the uncertainty and waiting time before markets, investors, observers can figure out what the future holds, but more importantly, the elections, if they were to happen, would happen at the earliest exactly in the middle of the negotiating season around the budget, with the commission. And we have seen last year already how those engagements, those negotiations can actually lead toa those negotiations can actually lead to a lot of nervousness for market participants. Not having a government or being in the middle of elections wouldnt help. You mention the European Commission and i wonder, beyond italys borders, how perilous is the Current Situation for the wider euro zone, given the size of italys economy. The third biggest in the euro zone and the fourth biggest in europe. Any uncertainty and any growth in uncertainty and any growth in uncertainty around a situation wouldnt help because it comes at a time when the european economy is slowing, it is notjust italy facing challenges on growth. Germany is not doing much better and anything that impacts consumer and Business Confidence in that respect would not be welcome. Is that very bad news for italian assets and European Assets . Not necessarily, given that all of this is happening at a time when the European Central bank has already hinted at more quantitative easing, more stimulus coming in september. What do you think about when you look at the two parties involved in these negotiations, how close are they in terms of their ideas and their policies when it comes to agreeing a budget and Spending Plans and achieving the kind of savings that are necessary to keep italys budget within the eu spending rules . Not very close. These are parties that have been arguing and bickering for the last couple of years already. They dont have a lot of Common Ground on immigration, on infrastructure spending, on labour reform. However, the latest comments that have come out of rome are positive in the sense that at least such a coalition, if it happens, would be more euro friendly and therefore less aggressive or confrontational vis a vis. They still less aggressive or confrontational vis a vis. They still have to find 23 billion euros if they want to avoid having to hide the vat in the autumn, so that will be the first challenge for them. Thank you very much. Lets take a look at some of the other stories making the news. Malaysian ex leader najib razaks most significant imdb trial begins today, centring on allegations that hundreds of millions of dollars linked to the state fund ended up in his bank account. Mr razak faces charges of 21 counts of Money Laundering and four of abuse of power in this particular trial all of which he denies. A World Bank Tribunal has ruled in favour of mining giant glencores coal mining subsidiary prodeco in colombia. The tribunal ordered the government to repay a i9m fine that had been levied on the company for alleged breach of contract. A petition for 575m in damages was however rejected. Deutsche bank a longtime lender to donald trump does have the president s tax returns. The revelation was made in a court filing. Congressional democrats have requested the documents regarding donald trump and three of his childrens business dealings. Lawyers for mr trump are trying to block the subpoenas and its not clear if Deutsche Bank will comply with the order. The Us Department ofjustice has charged a former Google Engineer with the theft of trade secrets. Anthony levandowski is accused of downloading thousands of files relating to Self Driving Technology he worked on while at google. Its then alleged he went on to found his own self driving firm which was later acquired by uber. If convicted, he faces up to ten years injail and could be fined more than 8m. Dave lee reports from san francisco. The department ofjustice alleges that, in 2015, levandowski downloaded more than 14,000 files before leaving googles self driving division, which later became his own Company Called waymo. It related to the technology which detects and comprehends what is around the vehicle. He went on to develop his own company, auto, which relates to self driving trucks, which was acquired by uber, but waymo took over to court saying, it took the secrets knowingly. It ended up took the secrets knowingly. It ended up out of court with waymo taking 200 million worth of stock. This charge relates to migratory personally, his lawyers did not dispute the files were downloaded but insisted no trade secrets ever made their way into uber or any other company. In court on tuesday, levandowski pleaded not guilty to all charges and is now out on bail. The next hearing will take place early next month. Theyve all stay right across that story for us in any more developments, we will bring them to you. Mike dave will stay. Japans decision to drop south korea from its list of favoured trading partners comes into effect today in what has been an escalating trade row between the two countries. Lets go to our Asia Business hub where Monica Miller is following the story. So, if everything goes to plan, this is when it all takes effect. Indeed. At midnight, it took effect in south korea and officials have already come out and have expressed their deep regret overjapan s official removal of it from the list of a favoured trade status. They called foran favoured trade status. They called for an immediate retraction of this latest export restriction. What this means is japanese exporters now latest export restriction. What this means isjapanese exporters now have to make sure their goods dont benefit south koreas military weapons industry before they can sell them and in a tit for tat move, south korea said it would end a simplified export procedures to tokyo. It also scrapped a military intelligence sharing pact with japan, which has certainly got in the us and china very concerned at this point. In the end, consumers will feel the pinch, especially those who like samsung products. They are going to start to become a lot more expensive. Monaco, thank you. Monica miller in the asian business hub in singapore. And no surprise, talking about the trade was and the trade war between the United States and china, it is weighing on the numbers but a slight uptick in japan. Investors weighing on the numbers but a slight uptick injapan. Investors still concerned about all of the uncertainty surrounding the china us trade talks and whether they will make any progress. Let me show you what is happening in europe. It is italian politics that remains the centre of all the focus, the two parties trying to form that government later today. It seems they may be close to a coalition deal, it has helped to boost the markets but nonetheless, within the last hour, over in germany, the latest Consumer Confidence survey suggests that morale remains unexpectedly stable heading into next month, suggesting that Household Spending will continue to pfp up Household Spending will continue to prop up europes largest economy but the market in frankfurt almost and a half of i . More on that for you in a moment, an expert view on what to watch but first, michelle has the details of wall street. Investors are watching out for any sign ofa investors are watching out for any sign of a thaw in the us china trade dispute, as the bottom market continues to flash red and stoke recession fears. This wednesday, wall street will also keep an eye on the share price of opioid makers after settlement discussions are being held to settle litigation claims. On the earnings front, a handful of firms are still reporting Second Quarter results, among them tiffany. The jeweller, famed Second Quarter results, among them tiffany. Thejeweller, famed for Second Quarter results, among them tiffany. The jeweller, famed for its little blue boxes, is likely to report a drop in the same store sales because of lower spending by chinese tourists. Joining us is laura foll, fund manager of uk income funds at Janus Henderson investors. A lot of attention on this proposed merger between huge tobacco firms and yet investors dont seem convinced. This was the big news on the market yesterday on what it has to be said was a very quiet day, Philip Morris and al trio might be merging. Philip morris only sells tobacco outside the us and what you see outside of the us is less of a volume decline, so better demographics in countries like indonesia and the philippines, so Philip Morris shareholders werent thrilled they were going back into the us effectively with altria, so shares were down seven or 8 by the end of the day. In the uk, the latest British Retail Consortium figures suggesting prices falling, and this is playing counter to what we have seen elsewhere. Give us a sense of why this is significant. Overall prices were down but only slightly. The most significant data was clothing and footwear. The price division was around 8 , so a high numberand division was around 8 , so a high number and that is showing that you are getting to the end of summer sale season and retailers are struggling a bit to clear that excess stock and are having to reduce prices, so not a particularly good lead indicator the sum of the clothing retailers. And we know they are already struggling on the high street. What we have seen in the pasties they have tried to maintain margin and not discount because that is what keeps profits healthy. This suggests they are having to cut prices to get sales through the door. Ideally, they wouldnt have to cut prices and keep margins as flat as they can, so this data would suggest that towards the end of sale season, suggest that towards the end of sale season, you suggest that towards the end of sale season, you are wanting to put your Autumn Winter stocking, they are having to cut prices to inventory out. Thank you, we will see later to go through the papers. Still to come, wrapping it up, the country that makes an alternative to plastic wrappers for ice lollies and ice cream. You are with Business Life from busy pc news. Business live from bbc news. We all know how frustrating a poor Internet Connection can be, and if its bad enough in towns and cities, its often worse in rural areas. But now two of most remote parts of the uk can boast that theyre the best connected as ultrafast broadband goes live to more than 300 homes. Our Technology CorrespondentRory Cellan Jones is in the outer hebrides. Tell us more about this. Yes, we are an incredibly beautiful place, it is actually the first time in 2a hours that i have seen the sun, it has been raining almost constantly, very beautiful. This is an island called green say, it is about a mile wide, grimsay. It is incredibly remote. If you wanted to go to glasgow, it would take you eight hours, so very difficult to basically connect to the outside world in many ways, but they are one of the communities that have been given this extraordinary fibre connection. A fibre optic cable under the sea has arrived on shore and fibre piped into every single household on this little island, 100 households, giving that sort of state of the art connection, which promisejohnson sort of state of the art connection, which promise johnson is sort of state of the art connection, which promisejohnson is promising the whole of the uk by 2025. The people here say it is making a big difference to their lives. I am with one of them, robin, who runs a candle business, the hebridean candle business, the hebridean candle centre, you do a bit of air b and b. What was it like before the fibre optic connection . And b. What was it like before the fibreoptic connection . Before fibre, we had broadband through a satellite dish and it came as a very limited service, particularly the amount of data we could get so anything data hungry was virtually impossible. It has made a massive difference, obviously, to have what we have now. Tell me what she used to say to your guests it was an embarrassment. They would say we had fibre and broadband in the house but we couldnt give them access to it because they would wipe us out and leave us with no connectivity for the rest of the month. And life is a lot better now . Massively. That is the picture here, lots of people wa nt the picture here, lots of people want fibre broadband and here they are getting it. Thank you very much indeed. And dont forget, if you are on a decent wi fi link, you can get more Business News on the website whenever you want. Youre watching business live our top story. The clock is ticking for italys politicians to form a new government. If they fail to do so, it could mean snap elections for europes fourth largest economy. If you are in the northern hemisphere, chances are it is hot outside and certainly it has been in the uk this week so chances are you may, like me, have called them with an ice cream, or a lolly, or several. But even the humble ice pop isnt immune to the concern over Plastic Waste. Plastic often cant be recycled and ends up as a litter. It is estimated around 8 Million Tonnes of this Plastic Waste ends up in our oceans every year, adding to the near 150 Million Tonnes currently floating in the well s oceans, harming marine life. So what is a treat living environmentalist to do . One uk based firm says it has found a solution. Lickalix says its found solution to the problem. Founded in 2014, the organic ice lolly company says its product is the first in the world to come with plastic free, compostable packaging. Which means, the packaging can be composted in a food waste bin and will decompose within weeks. With us is karis gesua, founder, lickalix. Welcome to the programme. This is one of those products that sounds so obvious that it is a surprise no one has done it before and i mean that in the best way, so we literally peel it off and throw it away, it becomes litter. Tell me about why you decided to do this. When we set up you decided to do this. When we set up the business in 2014, we looked for a plastic free alternative but the technology wasnt there. To be used in the kind of frozen sector, but now, as of this year, we changed toa but now, as of this year, we changed to a compostable based film and ours is made out of cellulose, which is essentially a wood pulp and it can be used in the freezer but technology has really transformed and come along way that we can now use it. Many people will find this amazing, that so many can go a products state used to be wrapped in foil and paper and suddenly this plastic aged foil appeared like so many confectionery products. And it was everywhere. Is it a return to that or is it new technology . M it was everywhere. Is it a return to that or is it new technology . It is slightly new comedy cellulose film has been around for a while, those crinkly plastic ones that rustle a lot but the technology has moved on. So we are going back in a sense but consumers, retailers, have demanded longer shelf lives, which plastic does give, and also it is about cost. Plastic is very cheap and it is very readily available. And at the cost of these wrappers that you make, the compostable ones, Something Like 3 6 times more expensive than plastic. If it pushes up expensive than plastic. If it pushes up the cost of an ice