Bps shares rising nearly 3 on that news of a return to profit. Also in the programme. Well be getting the inside track on. How you turn one massage and spa centre into an International Business of beauty. As the head of The World Bank forecasts a dramatic rise of robots in the workplace, we want to know what could it mean for yourjob. Would you work with robots . Maybe you do already. Let us know. Just use the hashtag bbcbizlive. Hello and welcome to Business Live. One of the worlds Biggest Energy companies, bp, has Just Announced its latest results for the First Quarter of 2017. And as expected its delivered much better news thanks to the rising price of oil and some effective restructuring. Using the oil giants preferred measure of underlying replacement cost profit, the First Quarter of the year came in at 1. 1; billion, a healthy improvement on the 485 million loss it made the same quarter last year. This year bp plans to sell off around 4. 5 billion worth of assets as part of a Global Portfolio overhaul. Details we know on that so far include last months announcement that its selling a 50 stake in a chinese Petrochemical Business to sinopec, and its agreed to sell the north seas largest pipeline to ineos. But bp has been Buying Assets too building up its natural gas business, and this year its made acquisitions in egypt and west africa. Its also spent 1. 3 billion on 527 Fuel Stations in australia. Bob dudley its Chief Executive has been praised for how he handled the Deep Water Horizon disaster and navigated the massive fall in the price of oil still that was not enough to counter the critics who last year said his 11 million salary was far too big given the multi billion Dollar Losses the company delivered in the last couple of years. Sally. We can get more analysis from editor simonjack. Just say, sally. We can get more analysis from editor simon jack. Just say, the sally. We can get more analysis from editor simonjack. Just say, the pay came down from 19 million, 11 million was the final number. Lets talk about the profits news to start with, better results from bp. Does that indicate the worst is over . As ever the devil is in the details. There are some Pretty Simple things going on, the price of oil during the period we are reporting what is 40 higher than a year ago so one thing. As ten said they have cut costs, so higher revenues, lower costs, so higher revenues, lower costs a nd costs, so higher revenues, lower costs and bigger profits. Dont forget the impact of the sterling fall because bp makes its money in dollars and translates those dollars back into pounds when you see its profits put in sterling terms. For all of those reasons bp is doing 0k. No one really knows where the oil price is going. It is a difficult thing to navigate. We know it will not go up to 100 a barrel, most are certain of that, arent they . The truth of the matter is bp must get to this new normal like its peers. They have to get used to this aggressive cost cutting because this is the new normal. Projects went off line when the Big Oil Price fell but some analysts think there could be an increase in 2018, 2019 but not 100 per barrel. Then just talked through some of the issues, they are selling assets, they have got lean and mean. It is a very different company. The whole shakeup has made bp, shell and all of their peers look at the company hard. The massive fall from 117 down to 25 almost, they had to look out which areas they wanted to be in. What is interesting as it goes to show how dependent you are on the oil price when you are making your money. The weird thing is that when they had the big Shareholder Revolt against bob dudleys pay last year, they lost lots of money, 3. 5 billion and he got paid 19 million all told, this year theyve done better and he will be paid less. That shows either they are listening and they are sensitive to the outrage over executive pay, to others who will say it just executive pay, to others who will say itjust goes to show how difficult it is to connect performance and paid when it comes to setting these reward levels. Quick word about the future because clearly the oil prices stabilising somewhat, still not back to where it was, but what does it tell us about the admissions of these firms going out to look for reserves . They are doing it in a lean away, they have plans to develop australian development. They have sold off some north sea reserves which is a declining market but they will invest in new sites they think will come on line down the road. Everyone is sharpening their pencils. In the old days, they would go and Digger Hole Ntsila happens but today they have to have a diversifying portfolio. He has a 40 pay cut this year, we will see if that takes the sting out of the shareholder rebellion. 69 of shareholders voted against his pay last year, we will see if hes done enough. And the agm is not far away. It is in a week or two. Lets take a look at some of the other stories making the news. The Australian Government has announced it will build a Second International airport in sydney. It comes more than 70 years after the idea was first conceived, and follows promises from successive governments. The airport, set to cost around us 3. 8 billion, will be located at Badgerys Creek, 50km west of the citys centre. The current Sydney Airport has become increasingly stretched amid increased demand in recent years. The flying kangaroo taking you to Badgerys Creek laughter chinas Factory Sector lost momentum in april, with growth slowing to its weakest pace in seven months. The purchasing Managers Index dropped to 50. 3 in aprilfrom 51. 2 in march, indicating a slower expansion of activity. However, the index shows the sector avoided a slowdown for ten straight months. Any reading above 50 shows expansion of manufacturing activity. Twitter is working with media Firm Bloomberg to create a 24 hour rolling news channel for the messaging service. The live video stream will be made up of original programming as well as feeds from bloomberg bureaus. The deal builds on the Live Streaming deals twitter has done with others that spreads content via the social network. Lets ta ke lets take you to the United States because we are following the Writers Strike in the us, some of oui Writers Strike in the us, some of our best known tv shows could be facing a hiatus while the writers agree a deal. We will talk about this late in the programme because with the rise of things like netflix and amazon prime and other streaming services we are not short of tv to watch but the amount of money those writers are getting for getting dumber coming up with those tv shows is falling sharply. That really is a brighters block a Recovery Operation is under way after an accident at a samsung shipping yard in south korea left six dead and many injured. Leisha chi is in singapore with the details. Explain what has gone wrong here. We have the samsung conglomerate in the headlines again for the wrong reason. Their shipyard has seen all production halted after two cranes collided on monday causing one of them to break and collapse on a workers rest area. Six people were killed and we understand more than 20 people injured. Police described the scenes as chaotic and rescuers are still searching for people trapped under all of the debris. We also understand the victims are subcontractors, they were building a 500 million Ocean Platform for the French Energy giant total. This incident is quite shocking for south korea because the country has a history of very low industrial accidents. Samsungs Company President of the shipyard has apologised and said he believes the accident took place because of a miscommunication between the Crane Drivers and signal people. But the exact cause is still under investigation. Thank you for that update, leisha chi, from singapore. The nikkei is up on tuesday before a series of Holidays Injapan so dont expect Much Movement over the next few days. Boosting the fortunes for exporters. From the United States, the rhetoric from the white house suggesting tensions may finally be easing with north korea. That is certainly one to watch as far as the markets are concerned. Lets show you what is happening in europe, bps you what is happening in europe, bps share price boosted the wider market but we also think that deal has been agreed with creditors over greeces debts. We will discuss that more ina greeces debts. We will discuss that more in a moment but that is likely to boost markets because the debt crisis rearing its ugly head once again as faras crisis rearing its ugly head once again as far as greece is concerned and that really concerns investors elsewhere. We will talk about that more ina elsewhere. We will talk about that more in a moment but first to the United States because Samira Hussein has details about the trading day ahead at wall street. The Federal Reserve begins its two day meeting on Interest Rates on tuesday. The policymakers will be issuing a statement at the end of the meeting with their assessment of the us economy and most crucially whether they vote in favour of a rise to us Interest Rates. On tuesday the Worlds Largest tech company will be reporting earnings and all eyes will be on apples iphone sales for the quarter, especially the iphone 7 plus. Investors clearly have high expectations. The stock price for apple hit a new record high in mondays trading. And also reporting, Pharmaceutical Giants Pfizer and merck. The big story for pfizer is that a few of their patents are about to expire while merck has a cancer drug that is considered to be the most Significant Growth driver for the company. Interesting, so a lot to talk about in the United States, Samira Hussein will be on the case when it comes to apple etc. Joining us is kathleen brook, Research Director for city index. It isa it is a busy time with Apple Earnings and bp etc. One thing we Wa Nted Earnings and bp etc. One thing we wanted to talk about was greece, coming through in the early hours of the morning that finally a deal on new measures and new reforms meaning they get much needed funding. New measures and new reforms meaning they get muchneeded funding. This has been going on for absolutely yea rs. Has been going on for absolutely years. They are trying to extend the pension age. Make people older before they receive their pension, trying to sell off state assets, coal mines, power plants and that kind of thing. This still needs to be agreed by the greek government. What i think is interesting is the syriza party still in control, the far left, even they have got to grips with the reality of the financial situation. Greece has a massive payment to its lenders coming injuly and needs its money now so we are coming injuly and needs its money now so we are really down to the wire. Reading a sigh of relief because it kept going beyond the deadline last year. Lets talk about a couple of stats because we have uk manufacturing, pmi, and eurozone unemployment, snapshots of what is going on but it paints a picture of things on the mend . Certainly in the eurozone. Their data has surprised expectations, it is outpacing the us and uk. Their First Quarter growth released this week is expected to show the eurozone grew at a stronger rate than the us and uk in the first three months of the year. If we get a weaker pmi for the uk that will show alarm bells because we saw a slowdown in gdp for the First Quarter, that is backward looking, this is a snapshot of now. If we are still weak going into the election, could that have implications . We will have to see. What are your thoughts on president froms comments on big banks on wall street . A Throwaway Comment in a tv interview when he said, im thinking of separating their Consumer Business from their Investment Banking business, and that meant stocks went all over the place on the marketplace. That is contradictory to what he said in january when he said he would scrap Financial Regulation to make it easierfor Financial Regulation to make it easier for these Financial Regulation to make it easierfor these big Financial Regulation to make it easier for these big banks Financial Regulation to make it easierfor these big banks to make money. Yes, there is a liability when it comes to President Trump about what he says and what impact that has on the markets but it also shows there are two imposing influences, the Republican Party wa nt to influences, the Republican Party want to see regulations scrapped but his electorate, the people who voted for him, dont like the big banks and want them broken up so hes balancing a fine line and sometimes hes not getting it quite right. The Throwaway Comments coming from trump. They keep us busy we will see you in a minute. Kashiling will be back later. Kathleen. Still to come a spa of success. We meet the singaporean entrepreneur behind an International Beauty brand. Youre with Business Live from bbc news. No new taxes on business. Thats what the British Chambers Of Commerce is calling for from the next government. Its published its manifesto, Titled Brexit and beyond in which it also calls for clarity on what the uks departure from the eu could mean for business. Mike spicer is director of economics at the bcc hejoins us from cambridge. Good morning to you. So, they are asking for clarity, asking for no more taxes. How hopeful are you that you will get either . What we really want to do is to reinforce the fact that for many businesses, although brexit of course is very important and getting a good deal is important, decisions that are made around Domestic Policy matter as much if not more. As you said in your earlier piece, we have just had a weak quarter of gdp growth and one of the major components of that story was the u pwa rd components of that story was the upward pressure on prices and the effect that has on Consumer Spending and investment. We think there are many things the government can do starting with upfront costs that businesses paid, businesses do rates and so on to free up businesses to investigate. You will probably get very little in terms of promises from theresa may because she said she will not make specific proposals on taxes. We have already heard some things over the weekend about vat and so on. We are still hopeful that there is room for manoeuvre for the government after the election to be able to act on those upfront costs. It has made some movements in that direction over the past year but we need it to go further. Businesses in the uk pay the highest Property Taxes in the developed world. That cant be consistent with the competitive tax regime. In a period of Economic Uncertainty when we really wa nt of Economic Uncertainty when we really want to create a great environment for businesses to grow and invest. For now, we have run out of time, thank you for your time, mike spicer, director of the colonic sabha British Chambers Of Commerce outwith its manifesto today, with hopes from the various candidates. We have the Economic Data coming in dropping in in the last few minutes. Revenues up and shares down, the online delivery app and takeaway firm says revenues were up by 46 , orders in the uk up by 17 . But as the headline suggests, whilst they are doing well it has not impressed shareholders. Keep ni shareholders. Keep n on just shareholders. Keep ni onjust eat, something with kept an eye on in the business unit, its results have been but not enough for the markets today. Youre watching Business Live. Bp shares are rising sharply after the british oil giant returned to a profit for the first three months of the year. All of that helped by higher oil prices. The company reporting 1. 1; billion. A quick look at how markets are faring. Has a fairly hefty weighting. Thats a snapshot of how things are going with. Were almost into 50 minutes of trade so far in europe today. While the Global Economy may be showing signs of fatigue, the health and fitness sector is one area that continues to go from strength to strength. According to a leading research firm, the so called Wellness Industry is benefiting from an emerging global middle class. Revenues are forecast to grow 6 between 2015 and 2020 and one company which is hoping to benefit from this is the spa esprit group. The business was founded in 1996 by one of singapores best known entrepreneurs, cynthia chua. The group now has outlets in london, shanghai and new york. Sharanjit leyl caught up with the companys founder over a manicure and a chat. Thank you very much for inviting us into your spa. Were going to get a manicure while we do this interview. So, tell us a little bit about how you got into this business. So, i had a really short spell in banking. I felt that i didnt like the nine to five job. It was really short. I didnt like that. There were several options i was exploring, it could be childcare, it could be wellness, it could be day spa, so i contacted it and felt it was ok it was something that i would like to pursue and thats how everything got started. So when you first started tell awes bit about some of the challenges you faced. So some of the challenges were like customer issues, business and corporation, there was so many areas and aspects to starting a business, notjust mixing oils, holistic therapy. It was nice to have a combination of different people and when i got into the business i was perhaps 23 or 25 so it was nice to have partners that were like in their 30s, who have been in company for sometime. So those challenges were kind of looked into by them and then i get to focus on the fun bits that i love to do. But youre also in other cities beyond singapore, youre in london, new york, and shanghai, multiple other cities as well. What was the reason you went abroad . I think every city it is very different. For example going to china, you would think 0k going to china could be easier than going to london or new york, but it was not true, i had like such a steep Learning Curve in china. The Product Registration is extremely difficult. So just to get the products before you could even have their products used in the saloon or for retail, the guidelines were strict, the labelling and all that. So all this Cross Country intelligence and cultural thing that you need to know, they were very, very different. You feel that something is not suitable for you, how to adhere to the label law. Thats very difficult and then the compliance, in terms of taxation, accounting, licensing of the beauty treatments, so there were a lot of things that were very, very difficult and i always think that in every city that you want it takes almost three years to learn something. Thats about right. Someone said if you want to do something really well, you need to invest 10,000 hours. Thats about right. So its never easy. You go in with that passion and i want to make london work. No matter what it is, i will make london work. The problems will come, but you tweak it, im creating a prototype, but we will work initially, but how do you fix it back and make it work . So i think every little step counts and then when you get that sense of achievement. Now, you ventured into london in a Big Wayjust Last Year right before brexit and we know there is a lot of uncertainty about the uk economy, so how is that impacting your future plans there . Well, of course, brexit took everyone by surprise. So yeah, so the beauty block was really committed at that point in time. So with the brexit, i wouldnt say that it impacted a lot on my business, but what i found disturbing was perhaps it creates a lots of nervousness among the staff because there is so many different nationalities that work in the cafe or the beauty tree and they are worried they will be deported back to their country. So there is a lot of uncertainty and also with the Currency Exchange rate, it is quite a substantial drop. Almost like 20 and thats quite a bit. So thats there are pros and cons because of the Exchange Rate and that can affect the business in terms of Purchase Price and the in and outs and all that. So, we have come from your spa to one of your restaurants just down the road which is quite an unusual concept. So this is the big garden. 0k. But were going to your Restaurant Cafe now. From cafes to spas, what next . The idea of having a farm in the city is something different. It is the journey of how i got here. So every little step, you know, got me here. Maybe we should have a manicure during Business Live kathleen is back. The head of The World Bank is pushing a terrifying prediction aboutjobs pushing a terrifying prediction about jobs and it pushing a terrifying prediction aboutjobs and it is all about robots . Twothirds of jobs maybe lost to ought owemation. We think it might be bad in the uk, in the us trump ran on that. The trouble is the robots, it is not like for like. There is not anotherjob being replaced for the people displaced by the robots. The worrying thing of what that causes, mass unemployment, can lead to things like the arab spring. It does depend on how far does technology go . Will it continue to expand at the pace it has . If it does, will any of us have a job left . Thats creating higher skilled jobs. It is getting rid ofjobs, but this is focussed on developed economies where thejobs this is focussed on developed economies where the jobs are releva nt economies where the jobs are relevant and needed . Economies where the jobs are relevant and needed . Where there is large populations that dont have the skills that need to be gainfully employed, but this will lead to things, an economic theme thats coming up is the National Living wage which isntjust national, this could be global living wage to pay people if robots are taking over theirjobs. That theme will get more and more relevant as the years go by. The comments we had from viewers, do you work with a robot, 01 viewers, do you work with a robot, or would you do that. I feel i viewers, do you work with a robot, or would you do that. Ifeel i do annabel said yes. Another viewer says, we need to find a balance between man and machine. But had is something we have been doing for generations, the balance between man and machine. Iwant generations, the balance between man and machine. I want to talk about tv. Netflix and amazon prime, loads of good tv . It is difficult to choose. The trouble is now were getting more series that have shorter number of episodes. In the past episodes used to be like 22 episodes a season. Writers get paid per script. So per episode, episodes a season. Writers get paid perscript. So per episode, but these new shows that are coming on board take as long to film and writers have are not allowed to take on work for the whole production themement they are getting paid less, but not allowed to work elsewhere in that period while those shows are getting shot. So they could go on strike and the decision is today, isnt it . It is and well watch it closely. Were out of time. Thank you, kathleen. Bye. Good morning. The sun was out to start the day in parts of Western Scotland. 0ne start the day in parts of Western Scotland. One of our Weather Watchers sent us in this glorious shot. Another warm day. It is not too bad elsewhere. The low pressure was with us yesterday and thats over france. High pressure across scotla nd over france. High pressure across scotland navia. We have an easterly flow, it is bringing low cloud. It is areas of low cloud elsewhere, but they will thin and break. We will see sunny they will thin and break. We will see sunny spells. For wales and the south west of england, much better day than yesterday. Dry, its sunnier and also feeling warmer. Still reasonably warm across the South East Corner even with the threat of showers into the afternoon. Showers if you need the rain at the moment will come your way. They will be well scattered. Heaviest in the South East Corner. Lighter further north. Much of wales stays dry. Sunshine on the coast, leading to 17 or 18 celsius. The same too, Northern Ireland after the Morning Cloud has broken up and in the west of scotland, 19 or 20 celsius. So some low cloud to Eastern Parts of scotland and north east england. Some of that will disappear through tonight. Showers this evening, western parts of the midlands, east wales and south west england. They will fade away, but the breeze will pick up through tonight and it will bring splashes of rain, east anglia and the far south east into tomorrow morning. Further north and west, where the skies are clearest, winds lightest. The best of the sunshine in northern england. There will be spots of rain and drizzle, east anglia and the south east in particular. Some of the cloud pushes across the midlands and south wales later. By and large a dry day. The best of the sunshine in the morning. Feeling cooler across the south tomorrow compared to today, still up tomorrow compared to today, still up to 18 or 19 celsius in Western Scotland. Chilliest of all, eastern coasts as the winds strengthen we get to feel more of what the Sea Temperatures are at the moment, only eight to ten celsius along the eastern coasts. With High Pressure building to the north of us, the squeeze on the isobars, the winds get stronger into thursday still. England and wales in particular where we will see a bit of cloud at times, the chance of a few showers. Sunny spells, the best of which in the best and dry, sunniest and warmest of all in Western Scotland and Northern Ireland. Bye for now. Hello its tuesday, its 9am, im victoria derbyshire, welcome to the programm. Our top story today this programme can reveal that 300 disabled people a day are appealing against cuts to their benefits to their benefits and its costing you £1 million a week. You know i put on a brace face but inside im shocked really. I dont want to be a burden on society and take. I didnt ask to be sick, im annoyed that im sick. Our full exclusive story in the next few minutes. Also on the programme a terminally ill man who campaigned on this programme against changes to widowed parents allowance has died. Youre contemplating death and want to go with some dignity,
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