this is business live from bbc news with ben thompson and ben bland. walking a trade tightrope — round one of talks between the us, canada and mexico are over. but can the three nations do what it takes to hold nafta together? live from london, that's our top story today, monday the 21st of august. the trading relationship is worth more than a trillion dollars a year, so can the members of nafta bridge their differences and save the troubled trade pact? also in the programme, the world's biggest oil producer gets cosy with it's fastest growing consumer, as russia's rosneft spends 13 billion dollars in india. a new week, the same worries. asian markets were down, with japan at its lowest level in four months over concerns for president trump's stalled economic agenda.

europe is looking like this in the first half hour of trade. and from bumble to babies — we'll meet the woman who's behind a networking app for new mums called peanut to help them juggle careers and kids. elon musk has today issued a stark warning about the risks of killer robots in the future. today, we want to know if you think terminator type robots could be more fact than fiction in the not too distant future? just use #bbcbizlive. hello to you. we will get to the nafta trade deal in a minute, because we have just had some breaking business news. reuters news agency is reporting that china's great wall motor company is looking into making an offer for all or part of fiat chrysler. a big deal between two potentially

huge car—makers making one even bigger one. the agency sites two sources that say the chinese company has asked to meet with its us—european rival about purchasing part or all of the group. we have been hearing potential reports of this for a while. the chinese company could be interested in buying the jeep chinese company could be interested in buying thejeep brand, one of fiat chrysler's most lucrative. we will keep a close eye whether fiat chrysler ends up with a new owner. we're talking trade today as the us, canada and mexico finish their first round of talks to overhaul north america's free trade deal, known as nafta. it comes after president trump threatened to scrap the pact — saying it's been a disaster for us workers. the countries have pledged to reach an agreement by early next year, but some trade experts have warned

it could take much longer. there are huge challenges ahead. the us says it wants new promises that more vehicles are manufactured in america. at the momentjust over 62% of each vehicle must come from one of the three countries, but the us hasn't yet explained how it wants this changed to boost its own automotive sector. with me is cailin birch, global analyst at the economist intelligence unit in london. welcome to the programme. which is the most challenging for them to reach a consensus? there are a number of areas that could be promising for a potential agreement. one of the automotive industry. we are seeing some disagreement about what the mechanisms will look like for future trade disputes across the

board. that is something that could potentially be disruptive for the us- potentially be disruptive for the us— canada relationship given that there is a border in timber to begin with. we have seen some disagreements between timber and dairy exports. they have just finished the first round of talks. it would've been nice to be sitting here talking about whatever breakthrough they have made, whatever deal been done. but we are still talking about the hurdles and challenges. would it have been expecting too much to see much progress after round one? expecting too much to see much progress after round one ?|i expecting too much to see much progress after round one? i do. the parties came in with different negotiating tactic macro. —— tax. the us started on a very difficult negotiating tactic where they wanted to reverse the agreement and not just changes around the margin. president trump said it didn't work

for american workers. how much does —— has that raised the stakes in coming toa —— has that raised the stakes in coming to a deal and a deal that works specifically for the united states ? works specifically for the united states? like you said, he has approached most of the major legislative questions with the exact same tactic, where he makes a bunch of sweeping statements that would imply major changes. for example, with health care there was a very sweeping, let's toss it out and hope we can come up sweeping, let's toss it out and hope we can come up with a new programming two years because we will have a gun to our head, essentially. eventually lawmakers we re essentially. eventually lawmakers were able to scale back. we will see a more reasoned response when we get into the negotiations in round three. it is not going to benefit any parties in the agreement if nafta is to be dissolved or if it is to be rushed as well. another major thing to mention is that health care

probably failed because the timing was so short to come up with such a dramatic change. nafta is much older than health care. the conditions are very different. but to rush negotiations of such an important trade agreement, where there is a soft deadline of the end of 2017, is pretty unrealistic. thank you. let's take a look at some of the other stories making the news. the uk government will publish its pre—position paper on brexit. the average pay packet for a ftse 100 average pay packet for a ftse100 brokers has risen by 20% in the past year. the figure fell to $4.5 million. it appears that policies which were introduced appear to be

working. elon musk and other technology leaders have issued a stark warning about so—called "killer robots", urging the united nations to act to prevent a hi—tech arms race. in an open letter to the un, they say lethal autonomous weapons threaten a "third revolution in warfare". more than 100 robotics and artificial intelligence industry leaders signed the letter. mr musk has long spoken out about the dangers of artificial intelligence. pretty terrifying thought. pretty terrifying thoughtlj pretty terrifying thought. i don't like the idea of killer robots. maybe that is stating the obvious. we have been asking you how you feel about killer robots. robots in general, notjust killer robots! send us your tweets. that is what david has done. he only fears them taking over at bbc business life. so do we! also today, a big money dealfor oil.

the russian oil giant rosneft is set to announce a $13 billion deal to buy indian private refiner essar oil. the deal would give rosneft access to the world's fastest growing consumer of fuel — india. essar oil has 3,000 petrol stations in india. sameer hashmi is in mumbai, he's been following the story for us. tauqir us through this deal? potentially brings together a huge market for consumers and one of the world's biggest oil providers. it seems like a win, win. that is how both sides have been selling the deal. there were various issues. as far as the russians are concerned, this deal gives them access to one of the largest fuel consumer market in the world. india, as you know,

consumes a lot of oil. the demand has been increasing. it relies a lot on imports. what is going to happen with this deal is they will get access to this market. esser already has a huge refinery where it produces 400,000 barrels of oil a day. 3000 retail units is something they will get with this deal. for esser this deal is also important because it is a huge conglomerate in india with huge debts. so by selling this company there will be able to write off this debt. that is one of the reasons why this deal got delayed. a lot of lenders were blocking this deal. they wanted the debt paid beforehand. that is why it has taken so much time. but it has finally happened. it will be interesting to see how the russians go ahead with it. this gives them an important market to enter. given all

the us sanctions in the last couple of years, this will be really, really positive news. analysts say it isa really positive news. analysts say it is a win, win dealfor both india, because it will provide imports, and for russia, who get a new market. thank you for explaining all of that. big—money deals and a lot at stake. i want to reiterate the news we talked about at the start of the programme. china's great wall motor company asking for a meeting with fiat chrysler. this, we understand, will be with a view to making an offerfor all or part of fiat chrysler. that is an italian—american car—maker. just looking at shares, up 3.5% in europe. clearly, investors, in these early stages, liking what they see. a lot of implications of that deal

was to get the go—ahead. a quick look at what happened in asia. that is the close in the us on friday. the nikki and hang seng down. —— nikkei. whether this means anything for a president trump's economic policies... fiat chrysler up 3.5%. the best looking pretty miserable at the start of a new week. we will talk about why in just a moment. jeremy cooke is with us. let's find out what is happening on wall street. the week that starts with the solar eclipse will end with investors hoping that the annualjacksonville gathering sheds some light on monetary policy. central bankers from around the globe, including janet yellen, and mario draghi, will

meet in wyoming beginning on thursday. the fed is expected to reduce its balance sheet this year, selling off assets it required after the financial crash. it hasn't set a specific schedule yet, which is why wall street will be looking for any clues. closer to home, this monday, the chicago federal reserve will release its activity index, a barometer of economic activity. in corporate news, bhp billiton is expected to report earnings. wall street is looking for the minor to show improvement and that commodity prices are picking up. more from michelle later. and we'll be hearing more from michelle later in the show, when she will be explaining how companies plan to make big bucks out of today's solar eclipse in the us. joining us isjeremy cook, chief economist at world first. let's touch first on america. what could the jackson hold meeting ——

what does the jackson hold meeting mean? it is in wyoming in the united states. it is a talking shop central bankers and policymakers. it has a significant importance for market in that in the past five and six years, certainly throughout the global financial crisis, central banks have used this to test out new policy ideas, floating boat by saying, we might be looking at policy, increased interest rates, for example. janet yellen and mario draghi will be there. expect them to suggest what their saddlebags could be doing. one of the things that will be on janet yellen's be doing. one of the things that will be onjanet yellen's mind is the weak dollar? that is right, and how it feeds into inflation expectations. we have seen some softening in inflation. the rate has been risen three times in recent months. that hasn't been felt on the

us dollar. we talked about nafta at the start of the programme. and clearly, president trump's threats to scrap it entirely. it will be interesting, given what we have also heard this morning, that the chinese great wall motor company are asking for a meeting with fiat chrysler, will trump be happy about this? well, i don't know, is trump happy about anything at the moment? you would have to say not. this is another thing he will want to try to protect, the great us manufacturing economy. it is about the headline. not necessarily the intricacies of the deal. the psychological element? another chinese corporate raider coming inforan another chinese corporate raider coming in for an american company, chrysler. you look at all the cars, the emotion behind that brand within the emotion behind that brand within the united states. whether trump de

fa cto the united states. whether trump de facto dismisses it because he doesn't want to see the chinese taking over such a huge part of americana. moving forward, we look at it in brexit, trump, china, trade is the thing. businesses transacting internationally trying to move money around the world, what politics goes against that will be the major delineate of global growth going forward. if we can free that up, everybody will be better. stay with us, still to come, we will meet the woman behind a networking app for new mothers called peanut to help them juggle careers and kids. stay tuned for that, that is coming up, you are with business live from bbc news. let's talk about our favourite story in the uk, house prices. the average house price has soared by nearly £85,000 over the past five years, according to research from lloyds. the typical price paid by

home—movers is up 41% to £290,000. joining us now from the nottingham newsroom is property expert kate faulkner. ijust wonder how i just wonder how this breaks ijust wonder how this breaks down across the country. well, it is a huge breakdown, and a bit of an exaggerated price growth, because we had the height of the market in 2007, that then fell to 2009 through to about 2013 in most places, so what we are picking up this price growth from the lower of the market. so if you take the north—east, where they are looking at pricing creases, if you compare prices today there'ss 2007, there is still a 9% fall and deficit there. if you go to london, you are looking at areas that 40% or 80% up. so we hugely regional picture, but the last five years is not the best barometer of house prices. i wanted to ask about that,

because so much as happened in the last 12 or 18 months that could change some of the fundamentals for the market. you couldn't be more right, the fundamentals of the property market are completely changing, and! property market are completely changing, and i am not sure that the government, industry or consumers really quite and stand what is happening at there, but we can show market whereby you have got one property on a street, maybe three beds detached, going up in price, you have got collapsed on the other end of the street which dell haven't recovered to 2007 levels. —— which still haven't recovered. then you might have a property that has been doing well but is now starting to fall in value. so what we are really seeing is london, east anglia and the south—east, they have had a massive spurt, great growth, that has now come to a natural slowdown, partly because of caps on mortgage lending. the midlands not doing too badly, but not performing anything like the rate it was before the

credit crunch. and in the north, not really seeing anything for ten yea rs. really seeing anything for ten years. really good to see you, thanks for talking us through all that, a story we will talk much more about, i'm sure. the french energy giant total has significantly increased its presence in the north sea oil and gas industry, more on that online. you with business live from bbc news. ijust you with business live from bbc news. i just want to remind you with business live from bbc news. ijust want to remind you of the breaking news we brought you at the breaking news we brought you at the of the programme, kvyat priser shares are up 3.5%. —— be at chrysler. a chinese company, great wall, are planning to make an offer for all or part of the company. there are some reports that they may

be after the jeep brand, there are some reports that they may be after thejeep brand, one of the more lucrative brands in that stable. a quick look at how the markets are faring, this is how they looked in europe at the start of the trading week. let's turn our attention to something entirely different. for most new mothers, being at home caring for a new baby can be a pretty lonely experience. it's often hard to meet like—minded people. so one new mum took matters into her own hands and created an app to fix the problem. peanut is kind of like a dating app for new mums. it brings new mums together who are going through the same things and live close to each other. it was co—founded by former deputy chief executive of dating app badoo, michelle kennedy, and one of deliveroo's co—founders, greg orlowski. kennedy started the app after struggling to meet other mums

she could relate to, while also working. herapp, peanut, is designed to provide a network for mothers. michelle is with us now. welcome to business live, based on your own experience, but are people not getting to know each other over things like whatsapp, facebook, all those existing networks? why was there a need for this? two main reasons. when i had my little boy, i have gone from working 1 million mph, working all of the time, all of a sudden i was at home with him and feeling very much like i wasn't sure where my life had gone in terms of social interaction. it is quite hard, particularly in those initial days, you are not really going to the baby classes, you are not leaving the house as much, and it was winter for leaving the house as much, and it was winterfor me, a double leaving the house as much, and it was winter for me, a double whammy. i really felt like i wanted to connect with someone on my

wavelength, and i didn't always want to have a conversation about babies — sometimes ijust wanted to have a conversation about the usual stuff, something or nothing. none of my girlfriends had had babies yet, so having worked in the dating industry, it felt like a natural progression to take everything i have lent, the dating algorithms that are traditionally used, and apply it to women. so it is notjust as simple as saying you have got a new baby, let's go for a coffee, it is more complicated than that.|j new baby, let's go for a coffee, it is more complicated than that. i had a lot of those experiences, you have to meet my friend, she has got a new baby as well! then you meet and have not thing in common. we take your social graph, we take your location, and the more you use the app, the more intelligent it becomes about the type of woman you want to meet. sometimes it will be related to your child, your pregnancy, some times it will just be child, your pregnancy, some times it

willjust be about you, your career, where you studied, what language you speak. and is itjust mums? currently it is just for women, and never say never, but that was the real focus that we had, that was the thing i experienced. what is the main thing it does? you build this network, the danger is people would meet their friends and move onto other apps? a second pain point for me was we would meet connections, you have these women around you, and now you are in... you mentioned whatsapp or any other group, and there are messages flying back and forth, and you are trying to arrange dates to meet, maybe you want to go for a glass of wine, or have the kids together, and before you know it's there are 200 messages about it, so we have a scheduling feature in the chat, you can vote on that,

three clicks and you have arranged a date to meet. impressive start. thank you. and you say it is android as well as apple? from today, yes. thank you very much. in a minute, we will look through the business pages, but first a reminder of how you can get in touch. in a moment, we'll take a look through the business pages, but first here's a quick reminder of how to get in touch with us. the business live page is where you can stay ahead with all the breaking businesses of the day keep up to date with the latest details with insight and analysis from the bbc‘s team of editors around the world. and we want to hear from you as well, get involved on our web page, and on twitter, and you can find us on facebook. business live, on tv and online, whenever you need to know. the bbc‘s dominic o'connell is with us. we are going to start with the killer robots warning story. why is

elon musk putting this warning out? he says there needs to be something like a geneva convention on the use of killer robots or artificial intelligence getting involved in the weapons business. you might say it already is, the us uses lots of drones, we do as well, and they rely on very sophisticated technology, including people, so where do you draw the line? will you have com pletely draw the line? will you have completely autonomous weapons that can kill people? maybe the un should say whether they can do that. we already have things for chemical weapons and nuclear weapons, why not on these as well? and a debate about how more developed countries are more advanced in terms of this. absolutely, america will lead the way, they have the lead in that kind of technology. we have been asking, do you embrace the robot future? robin says i am sure intelligent machines will hurt us at some point, it is just about degree. margaret says, i fear that robots will kill

human resources in the technology sector. somebody says, put them in supermarkets to stop queue jumpers! there are normal users for these robots, this is about the militarisation. it is all about the terminator films, if we militarisation. it is all about the terminatorfilms, if we know militarisation. it is all about the terminator films, if we know how this is going to go, just watch the films, they will take over! we still need to be in control, that is the issue. we want them to have intelligence, but it is where they stopped taking on their own ideas. it is that scary facebook trial, the robots started communicating with each other in a language their programmers could not understand, thatis programmers could not understand, that is when you have to pull the plug! really nice to see you, thanks very much. we will be back at the same time tomorrow, have a great day tomorrow. this is a warm front moving north,

and behind it is tropical air boozing in which will make it feel quite humid for many of us today. —— oozing. eventually, it will bring rain to north—west england, western scotland, but further south things turning brighter this afternoon, some holes in the cloud will give temperatures of 21—22d, perhaps even a bit higher. further north, across the north midlands, into north—west england, cloudy with outbreaks of rain. rainfor england, cloudy with outbreaks of rain. rain for northern ireland, the allotment, western scotland. the best of the sunshine will be in the north—east of scotland. that rain

will spread into north—east england, eventually the north—east of scotla nd eventually the north—east of scotland as well. elsewhere, lots of cloud, coastal mist, and quite warm, quite humid night, temperatures no lower than about 15 or 16 celsius. into tuesday, that warm front has moved into the north—east of scotland, and that means that many of us are under the influence of this warm sector, warmer air sitting here. with breaks in the cloud developing in central and southern areas, it will feel pretty warm, up to 24 degrees. further north, however, not quite with you in aberdeenshire, 15 celsius here. from mid week onwards, that warm air in that warm sector will gradually moved away to the east and be replaced by some pressure conditions coming into the west. for many on wednesday, especially towards the

south—east, still warm and humid, bright skies, some sunshine, outbreaks of rain across northern england, showers into northern ireland as well. 18—21dc, typically. by ireland as well. 18—21dc, typically. by thursday, those temperatures back down to where they should be, lots of cloud, and unsettled field to the weather once again with a mixture of sunny spells and showers. so a bit of warmth over the next few days, it is not going to last all that long, though. bye—bye. hello, it's monday, it's nine o'clock. i'm joanna gosling welcome to the programme. an investigation by this programme has found scammers are increasingly taking advantage of the goodwill of people donating money in the aftermath of major tragedies. so how can you be sure are you that your cash is going to the causes you hoped to help? the town was a brew seat bonus. was that a one—off or more widespread?” would say about 80% of us were doing

it. online hate crimes will now be treated as seriously as offences committed face—to—face. the crown prosecution service has updated its rules following the growing number of cases occurring. if the crime is committed because of somebody‘s hatred of that particular characteristic, that is a hate crime.