Thats could come later. Well assess what the markets make of today. The pound is moving and well get the inside track on the Fastest Growing publishing market, audiobooks. Its a Global Industry valued at 3. 5 billion and the boss of the Biggest Company in the business audible is here. And so let the negotiations begin as the Brexit Process formally gets underway how do you think it will go . A good deal, bad deal or no deal . Let us know. Just use the hashtag bbcbizlive. Welcome to the programme. Nine months after voting to leave the eu today begins that process. It kicks off two years of negotiations. And for businesses in the uk and across the continent its likely to be two years of uncertainty and preparation. In the financial heart of the country, several big banks have threatened to move staff overseas if they dont get the brexit deal that they want. So whats at stake for the city . Latest figures show it contributes 159 billion a year to the uk economy it employs almost 1. 2 Million People in uk. It also contributes a Trade Surplus of nearly 73 billion to the uks balance of payments. Thats to say it brings lots of money into the country. But the eu also relies on the uk. 6. 6 trillion worth of Financial Assets are under management here in the uk. Thats 37 of the european total. Well, one reason its so high is whats known as passporting. Licences that let banks and other Financial Firms do business elsewhere in the eu. 94 of all the licences to do that are held by uk registered firms. So how will today shape up . Theo has the details. Run us through the day for what will turn out to be a pretty historic day . Also a carfully choreographed day, ben. Theresa may is meeting with the cabinet at Downing Street. Later on, she will head to the Palace Of Westminster to the House Of Commons for Prime Ministers questions and it is after that that she will stand up in the House Of Commons to make that long awaited speech saying that she has triggered article 50 of the Lisbon Treaty which will set off the process of britain leaving the European Union. As you would probably know, if you have been to any Dinner Parties around the uk lately, this is a controversial subject so she will make conciliatory remarks. She will say she promises to represent every person in the whole of the uk during the negotiations. Now, whilst she is doing that, our man in brussels, the uks permanent representative to the European Union will travel to the europa building, the headquarters of the european council, he will meet with donald tusk and he will hand over the letter itself. It has been signed. After that, there maybe a short formal acknowledgement that article 50 has been received by the council which will appear on their website and donald tusk may well tweet. The Chief Negotiator is expected to tweet during the day and the European Parliament u the heads of the political groups in the European Parliament, theyre going to be meeting during the day and theyll come out with a Press Conference later. So all of this is very carefully choreographed. What happens after that is within 48 hours the European Commission will draw upa hours the European Commission will draw up a Negotiating Mandate, a d raft draw up a Negotiating Mandate, a draft Negotiating Mandate which the 27 other members of the eu will have to endorse and give permission to the commission for. Theo, thank you very much indeed. That gives us a sense of the timeline. With us isjohn longworth, former Director General of the British Chambers Of Commerce but he resigned from thatjob to campaign for the uk to leave the eu. Iimagine you i imagine you are excited about this process and it formally beginning, something the Prime Minister was at pains to say late yesterday was, she is looking to broker a deal that will benefit all. High hopes. What are you hoping the outcome will be . Well, benefiting all, of course, means doing whats best for britain and were fortunate that the real benefits of brexit which there are many, can be crystallised entirely by the uk. Entirely independently of the European Union, and actually independently of the Single Market and the customs union. We have to leave those two institutions in order to get the benefits of brexit. So whatever happens in the next two yea rs, so whatever happens in the next two years, britain can make itself the best place in the world to do business which will boost the economy and which will solve a problem of the Deficit Problems and the balance of employment will improve. So actually, the uk is in a uniquely good position to have the best dealfor britain. Uniquely good position to have the best deal for britain. Even uniquely good position to have the best dealfor britain. Even if uniquely good position to have the best deal for britain. Even if we dont get a Free Trade Arrangement with the eu because a Free Trade Arrangement with the eu is actually icing on the cake, it is by no means important as important as the other things that we can do. Lots of ifs and abouts, arent there, john and the chancellor at there, john and the chancellor at the time was campaigning for remain, of course, called it a leap into the dark. A leap into the unknown and it really is, isnt it . It has never been done before. It is unprecedented and we dont know how its going to turn up. We dont know what will happen in the negotiations. The main part is around sorting out the administrative Arrangements Twoon the uk and the eu, customs union, Border Control and so on. Thats really very, very technical and a process that we can readily go through. The rest of it actually is very much known because if it is in oui very much known because if it is in our gift to actually crystallise those real benefits, removal of the cap, and repatriation of our net contribution and fisheries and deregulation, all the things that will boost our economy, those are in oui will boost our economy, those are in our gift, it is not a leap into the unknown in that sense because we can do the things we want to do. Unknown in that sense because we can do the things we want to dam unknown in that sense because we can do the things we want to do. It does depend how the negotiations go. The Horse Trading which will go on for months to come and brussels made it clear it will not be persuaded, it will not be giving the uk an easy exit, it will be a very costly exit and for each particular sector and industry in the uk, it will mean very Different Things . Well, there is lots of administrative stuff to be sorted out, there is no question about that. There will be a lot of heat and light and the eu will be upset about it because it is the lifeblood of the commission. There is so much more to discuss, john. Thank you for your time this morning, john longworth. Later on today, there will be special programming about this, but lets tell our viewers how they can get their questions in to us. All sorts of ways of getting in touch with the bbc. If you have got any specific business questions about the implications of article 50 then let us know. You can use the hashtag there on the screen. Were going to a nswer there on the screen. Were going to answer your questions on this fridays edition of Business Live. We will let the dust settle and work out what it means and send us your questions and well answer them on friday. We have been asking whether you think it is good news and bad news, and ian says, we will be find in the uk. The world is larger than us, we must set our horizons. One viewer says, it maybe wise for the individual state, but the long term consequences could be disastrous. In other News Delta Airlines and Korean Airlines have agreed to form a Joint Venture to share costs and revenue on flights across the pacific in a bid to lure customers with more options amid intense competition. Delta will be launching new non stop service between atlanta and seoul injune 2017. At the same time korean air will introduce new services between california and seoul. The worlds trade association for airlines, iata, says the us and uk ban on laptops in Cabin Baggage on some flights is not an Effective Security measure. It says the ban creates commercial distortions and is not an acceptable long term solution. The group has also questions why the bans are targeted at different airports. Us President Donald Trump has signed an Executive Order rolling back obamas plans aimed at curbing climate change. President trump said it would put an end to the war on coal and end job killing regulations. Samsung is due to unveil its latest smartphone later today. It is first since it was forced to recall the note 7 last year after many of them caught fire. The south korean firm hasnt released too many details about what we should expect from the s8. Steve evans is in seoul. What do we know . This is important for samsung . Dont mess up. Youve got a company which had the last big launch and the phone caught fire and the top man in the company is currently in jail. So away from the razzmatazz in new york and london things are not brilliant for samsung, but all that will count for samsung, but all that will count for nothing without razzmatazz that steve jobs with apple for nothing without razzmatazz that stevejobs with apple made his own. There will be that kind of fuss, the Big Questions for the techie people and for users, how will they get a big screen without making the phone any bigger . They will take various bits off the current models and make it only screen and find other ways of doing it. There will be a lot of talk amongst the gizmo nerds about besles and all that kind of thing and whether you can talk to it or not, but at the end of it all, samsung will remember, dont mess up, thats the motto. Steve, thank you very much. Steve evans in seoul. We will keep an eye on how things fair for the firm. Some breaking news out of asia. News that toshibas nuclear unit filing for bankruptcy protection. We talked a lot about the woes for the firm. It is the nuclear unit of toe sheba. It is the nuclear unit of toe sheba. It has been facing multi billion losses as a result of accounting fraud. They should be able to get their Financial Affairs fraud. They should be able to get theirFinancial Affairs in fraud. They should be able to get their Financial Affairs in order. And then you would hope emerge out of the other side, but it will protect them while they can do that. So news just in toe shebas loss hit Nuclear Business has filed for ba n kru ptcy Nuclear Business has filed for bankruptcy protection. More from our teams in asia on bbc Business Live. The focus will be on sterling. Let me show you whats happening in europe. A big day, triggering article 50 later today. Playing out on the markets across the day. Opening up higher, but we will get the real impact when we find out what is happening over the next two yea rs of what is happening over the next two years of negotiations. Were in it for the long haul. This is very much the start of the process. Lets head to wall street. Samira hussain has the details about whats ahead on wall street today. Lulu lemon will be reporting earnings on wednesday and strong Holiday Sales will carry the company through their fourth quarter, but investors will be keen to see how the company is planning to deal with the company is planning to deal with the fading popularity of leisure wear and some stiff competition from other players. Finally, the Us National Association of realitiors is expected to report that contracts to buy previously owned homes increased 2. 4 in february after falling 2. 8 in january. Joining us is mike amey, Managing Director and portfolio manager, pimoco. Todayis today is the day, article 50, historic . Yes, it is. We havent been here before. So as a fund manager, thats great. It is interesting to see new developments and keeps us on our toes. I guess what is interesting is which markets will react. You can argue it both ways. What we will be looking at as ben mentioned is the currency. The currency is the one that seems to be most sensitive to the brexit and whether there will be any kind of deal and whether there will be any kind of dealand in whether there will be any kind of deal and in which Case Sterling will probably go up. If both sides stick to their current Negotiating Stance it will probably go down actually. What i find really interesting when we talk about arle 50, markets normally love any sort of rumour, any speculation and theyll go hay wire as a result. Here, we have got lots of speculation and lots of uncertainty and markets are like, we will see how it plays out . You had the initial move down post the 23rd june vote. And then sterling has stuck around those levels, i. 25ish roughly against the dollar. The Equity Market has done well because sterling has been wack and we wait and see what happens. Were hopefully going to get an indication of what is going to happen. Rarebit of patience on the markets. That never happens. Mike is returning later. We will be tacking travel with mike. Still to come, telling stories. We meet the man behind the audio book giant audible on its small beginnings, how it pre empted the ipod and its Global Growth as part of amazon. Youre with Business Live from bbc news. Leaving the European Union will potentially have a huge impact on companies here in the uk which produce and export goods. Weve been talking to firms in the north of england about how they are getting ready. Iam simon. I am simon. Man, iam simon. Man, managing i am simon. Man, Managing Director of the acme whistle company. We saw export about 40 europe. We are looking east, we must assume things will get harder in europe, the free market will no longer be for us. There is a tremendous Sporting Goods market, police market, it is almost another world opening up as they get richer and there is potentialfor us, difficult though it will be. My name is paul, i am the Managing Director. We are an Old Established ceramics factory, we predominantly supply bottles to the Spirits Industry all over the world. Product has go to europe and that may not be a route forward to grow the business. We have put a lot of effort over the last six to nine months at looking at the usa is a real Business Growth opportunity. The pound dollar relationship and hopefully a Free Trade Agreement Going Forward will benefit us and oui Going Forward will benefit us and our ability to sell into that market place and it is a growing market. My name is jonathan, we place and it is a growing market. My name isjonathan, we are a Specialist Flooring Manufacturer and we export around the world. To the states, the Mainland Europe and also obviously a large market in the uk. Having looked at everything, brexit actually leaves our strategy unchanged. We will carry on exporting to europe, exporting to the states and dealing with the uk. With the effect of sterling devaluation, we have become so much more competitive that our sails into europe have become even better for us. Europe have become even better for us. So for us, steady as she goes, exports into europe stay unchanged. This afternoon, Daily Politics Presenter Andrew Neil will be interviewing exclusively Prime Minister theresa may, this afternoon at Downing Street. Youre watching Business Live our top Story Britain is finally set to formally to tell the European Union its leaving. The pound has been falling and chancellor Philip Hammond has told the bbc a trade deal will be done. Looking at markets in europe, these are the share markets, all up slightly today following a good session on wall street the night before, and in asia. Now were going to get the inside track on a business thats got a real story behind it. Audible was founded in 1995, and is now the worlds biggest supplier of audio books. It was bought by amazon in 2008 for around 300 million. The company now has over 300,000 titles in its library and serves millions of customers from 16 global hubs. From 2007 to 2017, a large chunk of audibles revenue came from its exclusive tie up with the apple app store. But injanuary that deal came to an end after pressure from regulators in germany and the European Commission. Don katz is the founder and Chief Executive of audible and hejoins us now. Welcome to Business Live. You and i have met before, we cover what have talked about but it was a few years ago. Somewhere on this show. I remember the story of how you started out the career, because you we re started out the career, because you were a journalist. Started out the career, because you were a journalist. Rolling stone magazines corresponded in london. Correspondence. My wife talks about a Nontoxic Midlife Crisis that changed into a business experience. So how do you move from that running a company that is the business biggest in the industry . In my case, i wrote books, as did all of my Rolling Stone and new republic collea g u es Rolling Stone and new republic colleagues of those years and we could not give our readers time to read. We were writing into the same general market, what we did at audible is unleashed all this time he cant use your eyes to look at a screen 01 he cant use your eyes to look at a screen or read to effectively read. We have millions of people listening right now, we will project 2. 6 billion of hours. It is an incredibly habituated way of using your time to read. The distinction between textual reading and listening to welcome prose literature, and believe me this is performed by very high level actors at this point, it is nonexistent at this point. The time people have is in the time they are exercising or driving, and they are filling it with. Our average listener gets two hours per day of listening in the audible, which makes it the stickiest Media Service there is. The audible, which makes it the stickiest Media Service there ism is fairto stickiest Media Service there ism is fair to say your business has been changed by technology, it first began with cds, physical media, and then downloads, and you pre empted then downloads, and you pre empted the ipod. We commercialise the First Digital player in 1997, developing it from late 95 when it was founded. It was four and a half years before the ipod came out. We were way ahead, perhaps most businesses dont survive that are that off in terms of being too early, but it gave us an amazing amount of learning and an edge and understanding how powerful the spoken word could be, if you unleashed it with really Strong Technology and then added these incredible powerful performances. At this point, it is why not do audible . If you can have Andy Newton Lee or colin firth or stephen fry to read you a book, it harks back to all the pleasures of childhood. You can watch all of those on a screen now and very easily with the wide use of tablet everywhere by all ages. Has that hit you . All of our technology is compliant with ta blets, technology is compliant with tablets, we even have a technology that allows you to read, but daniel talbot, and the audible picks up where you have left. So the amount of money you are making will not be hit by that move . This is really about taking the hundreds of millions of hours per week that peoples eyes are occupied and imbuing it with value theyve never thought they would have. We have run out of time, thank you so much for coming in. Good to see you. We are going to stay with the technology theme. Two british schoolgirls have qualified for the Robotics World Championship in the United States with a robot they designed and built themselves. They will be taking roy the robot to kentucky after winning numerous competitions. Iam i am beth and i am eight years old. Lam emily i am beth and i am eight years old. I am emily and i am i am beth and i am eight years old. Lam emily and i am nine i am beth and i am eight years old. I am emily and i am nine years old. We built roy the robot. He drives an eight foot grid and he has a four bar left that lifts up walls, sets in the scoring zone, and in the middle of the eight foot grid, there isa middle of the eight foot grid, there is a bridge, and roy has the balance there with other robots. We are hoping to take roy to america. We are representing the uk. It is the World Championships and there are 500,000 other teams to compete with, and they are the best of the whole world. Go for it, girls. We asked you what you thought would be the outcome of brexit. The deal, bad deal, or no deal. Nothing like brexit to get people talking and nailing their views to the mast. Lots we cant read out. This one says we are screwed, theresa may is purely honouring her mandate but there could be problems later down the line. Ian says we are getting our country back, wonderful day, believe we will be getting. Mike is back, lets talk travel. Many think about where they are going to their holidays and for some it would seem that turkey and places like egypt are back on the radar. Indeed. Interesting to see how these things develop because the weakness in the pound creates new challenges for going on holiday to europe so the classic destinations of spain Under Pressure. The turkish lira is very weak. And the egyptian pound has been under some pressure as well so it looks as though the first indications that people are moving back into those countries, yes. You might go on holiday on a plane built from Something Different . Sir Richard Branson is predicting that planes could be made by graphene within the next ten years. We have talked a lot about that, it is this one the material. A super thin material that is 200,000 times stronger than steel and a thousand times lighter than paper apparently. The cost of getting people wherever you go is the fuel, so the less you can do that is better and better for the environment as well. Mike, thank you for being with us, article 50 day. A busy day, the big day for everyone, full coverage across the bbc. See you soon, goodbye. Hello there, good morning, the breezes coming in from the south or southwest is keeping things quite mild, but it is also dragging in a fair bit of cloud with it, bringing some outbreaks of rain. These are at atla ntic some outbreaks of rain. These are at atlantic weather fronts coming in so will be the western side of the uk that sees the bulk of the rain, some will spread further north but these tin side of the uk not seeing much in the way of rainfall, maybe some light rain and drizzle through the morning but it will always be up through the west. The bulk of the rain pushing ever northward and eastward so turning increasingly wet across scotland as we go through the day. The far north east hanging on to something a bit drier through the afternoon but the rain is moving in that general direction, pushes its way through northern ireland. Not much gets across to the eastern side of the pennines but there will be some rain. The western side of wales also seeing its fair share of rain. Head towards the south east and here it is largely dry, we might even see a bit of sunshine breaking through that cloud. Temperature is not quite as high as yesterday but 16 or 17 degrees. Overnight, more rain across the western side of the uk, again very little gets to the east but there will be at least some. A mild mannered, still a southerly breeze so double figures across the board as, breeze so double figures across the boa rd as, just breeze so double figures across the board as, just in the north of scotland and ups towards shetland. Thursday, quite warm in the south eastern corner, it might get to 21 or 22 degrees. Further north or west it is 14 or 15. A fair bit of cloud across the western side, outbreaks of rain. Largely dry in the south eastern corner, it will be very pleasant indeed. On the friday, more rain to be had across the north and west. Head further south and east and it looks like it is another largely dry day and temperature still dont quite well in this part of the world, 16 or 17. As we head on the saturday, we start seeing some april showers developing but they will fade away and on into sunday, second part of the weekend looks pretty good with this ridge of high pressure, a pretty goosen data ms parts. Through the weekend, a showery day on saturday. A decent day on sunday but in between the two it will turn quite chilly. Hello, its wednesday, its 9am, im victoria derbyshire, welcome to the programme. Our top story today after 44 years of membership, Britain Will Today formally serve notice on brussels that its leaving the European Union. It means theres no going back. Here is what voters think. Im happy that were moving in the right direction. I want to see the government hold their nerve and not buckle Under Pressure from the eu. It isa buckle Under Pressure from the eu. It is a historic mistake and two years is not long enough in negotiations. I hope we get the best dealfor britain. Dont negotiations. I hope we get the best deal for britain. Dont we all . In Downing Street the Prime Minister calls for an end to the disunity and division that scarred the brexit referendum as britain begins its departure from the European Union
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