Browse content similar to 02/11/2015. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Sally Bundock and Ben Thompson. | :00:07. | :00:09. | |
Ryanair's strategy to woo passengers appears to be paying off. | :00:10. | :00:14. | |
It's just posted a 37% rise in profits. | :00:15. | :00:16. | |
Live from London, that's our top story on 2nd November. | :00:17. | :00:43. | |
But Ryanair is operating in an increasingly crowded market | :00:44. | :00:45. | |
as the number of short haul airlines grow rapidly, but will they | :00:46. | :00:48. | |
Also in the programme the Turkish lira strengthens | :00:49. | :00:51. | |
after a surprise win for the country's ruling party in snap | :00:52. | :00:54. | |
elections, but is this good news for Turkey's struggling economy? | :00:55. | :01:05. | |
A new trading week has begun. We will talk you through the winners | :01:06. | :01:08. | |
and the losers. And where are you planning | :01:09. | :01:10. | |
your next holiday? What will you do, | :01:11. | :01:12. | |
how much will you spend? Well, while you're weighing up | :01:13. | :01:15. | |
the options, the travel industry is As thousands of travel industry | :01:16. | :01:17. | |
bosses meet in London we'll get the inside track on the multi-trillion | :01:18. | :01:21. | |
dollar global industry with the boss of the World Tourism | :01:22. | :01:32. | |
Organisation. Will you spend more | :01:33. | :01:33. | |
on holidays this year? Let us know with | :01:34. | :01:39. | |
our very unscientific poll.Just Ryanair have just released | :01:40. | :01:42. | |
its latest set of results, the airline's profits jumped | :01:43. | :02:01. | |
by 37% to $1.2 billion Famed for its off-hand treatment | :02:02. | :02:06. | |
of passengers, it dramatically changed its tune | :02:07. | :02:09. | |
after two profit warnings in 2013. But how has | :02:10. | :02:12. | |
the airline turned itself around from its brutal image of old | :02:13. | :02:13. | |
and can it continue to compete In the words of Michael O'Leary, | :02:14. | :02:17. | |
the airline moved to stop annoying people | :02:18. | :02:27. | |
and improve its customer service. Now in the second year, | :02:28. | :02:34. | |
Ryanair introduced its "always getting better" customer | :02:35. | :02:35. | |
experience programme which attracted It introduced allocated seating, | :02:36. | :02:37. | |
new seats with more legroom, improved in-flight meals, | :02:38. | :02:43. | |
extra carry-on luggage and more which date back to the late 1960s, | :02:44. | :02:45. | |
are now major corporate players. There are 62 low-cost airlines | :02:46. | :03:11. | |
in Europe Budget airlines growth and over the last 15 years they | :03:12. | :03:15. | |
have snatched 40% of intra-Europe But | :03:16. | :03:18. | |
the competition is fierce.easyJet and Ryanair together still account | :03:19. | :03:26. | |
for only 20% of the overall European short-haul | :03:27. | :03:28. | |
market and that is also being challenged by a group of airlines | :03:29. | :03:30. | |
such as Norwegian Air Shuttle, Vueling, which is owned by IAG, | :03:31. | :03:33. | |
Wizz Air and Pegasus, of Turkey. Speaking to us a little earlier Neil | :03:34. | :03:36. | |
Sorahan, the Chief Financial Officer for Ryanair explained why the | :03:37. | :03:39. | |
company was now performing so well. With a 13% increase in passenger | :03:40. | :03:45. | |
numbers to 58 million customers and we have increased our full year | :03:46. | :03:52. | |
target. We did benefit from the weather in Northern Europe this | :03:53. | :03:55. | |
summer which encouraged people to head to southern climes and indeed, | :03:56. | :03:59. | |
from the stronger sterling. Which again encouraged people from the UK | :04:00. | :04:05. | |
to travel to the eurozone, but the always getting better programme is | :04:06. | :04:09. | |
clearly winning over the minds and hearts of the travelling customers. | :04:10. | :04:12. | |
This is something we have worked very hard on for the last two years | :04:13. | :04:18. | |
through the likes of the fully allocated seating and the carry on | :04:19. | :04:22. | |
bag and the choice of airports, we have 119 new routes this winter so | :04:23. | :04:26. | |
we are greatly increasing the choice that people have. We fly to 200 | :04:27. | :04:30. | |
different airports at the moment in 31 different countries. | :04:31. | :04:35. | |
That was the chief financial officer of Ryanair speaking to us earlier. | :04:36. | :04:37. | |
Travel Expert Alan Bowen joins me now. | :04:38. | :04:41. | |
Alan, good morning, welcome to the programme. We were sceptical when | :04:42. | :04:46. | |
Ryanair said we are going to be this caring, sharing airline and we are | :04:47. | :04:49. | |
going to revamp our image, but we have been proved wrong, the figures | :04:50. | :04:54. | |
tell the story? The figures show a huge improvement. When you asked | :04:55. | :04:57. | |
them a question, the answer was always no and by 2013 they began to | :04:58. | :05:01. | |
realise there were a lot of people who weren't prepared to accept no as | :05:02. | :05:04. | |
an answer and their change seems to have done them a lot of good. They | :05:05. | :05:11. | |
made a lot of revenues for things from charging you from printing your | :05:12. | :05:17. | |
boarding pass and for putting your luggage in the hold. They increased | :05:18. | :05:22. | |
passenger numbers by 13%. They charge for baggage in the hold, but | :05:23. | :05:28. | |
they don't want you to take it. But what they are seeing is a huge | :05:29. | :05:32. | |
reduction in fuel costs and fuel costs are helping every airline at | :05:33. | :05:35. | |
the moment. I wanted to talk about that because there is a huge | :05:36. | :05:38. | |
difference in what we saw in fuel prices last year and a lot of the | :05:39. | :05:41. | |
airlines still struggling because they hedged and they hedged or made | :05:42. | :05:47. | |
a gamble on prices being higher, not the case for Ryanair and they have | :05:48. | :05:54. | |
taken the gamble and won? The airlines who didn't hedge have done | :05:55. | :05:59. | |
very well. But at $50 a barrel, there is no reason that any airline | :06:00. | :06:02. | |
should be making a loss at the moment. We have heard from Ryanair | :06:03. | :06:07. | |
this morning, talking about whether they would expect to see a price war | :06:08. | :06:10. | |
next year. This is nothing new, they have always talked about price wars, | :06:11. | :06:14. | |
but we could we start to see, it is not just about the low-cost | :06:15. | :06:17. | |
airlines, there is a blurring of lines between the legacy carriers | :06:18. | :06:20. | |
and the low-cost carriers, they could start a price war with the | :06:21. | :06:25. | |
legacy carriers, but on routes that we wouldn't traditionally expect? | :06:26. | :06:28. | |
Well, we have seen changes in airlines such as BA who charge for | :06:29. | :06:31. | |
you to reserve your seat and charge for excess baggage. I'm not sure | :06:32. | :06:35. | |
there will be a price war. I think every year Ryanair say there is | :06:36. | :06:38. | |
going to be a price war and the hope is that will push people to book | :06:39. | :06:41. | |
before the price war begins, the reality is if you leave it to the | :06:42. | :06:45. | |
last minute, the likelihood is you will pay a lot more next year than | :06:46. | :06:49. | |
you will this year. One we will be watching closely, | :06:50. | :06:54. | |
Alan, thank you very much. Alan Bowen there. | :06:55. | :06:58. | |
Chipotle Mexican Grill has temporarily closed 43 restaurants | :06:59. | :07:00. | |
in Washington state and Oregon while authorities investigate | :07:01. | :07:06. | |
People who ate in six Chipotle restaurants are among 20 cases | :07:07. | :07:18. | |
The fastfood chain said it was acting with | :07:19. | :07:21. | |
Greece's bank bailout fund HFSF will provide state aid to recapitalise | :07:22. | :07:27. | |
the country's main banks after the European Central Bank said | :07:28. | :07:30. | |
A health check of Greece's four main banks by the | :07:31. | :07:33. | |
ECB over the weekend has shown that the lenders need to cover a 14.4 | :07:34. | :07:38. | |
Let's look at the Business Live page. I want to highlight a couple | :07:39. | :07:54. | |
for you. We have had news from Burger King this morning, the | :07:55. | :07:57. | |
fast-food retailer, well, it is trying to get into the evening | :07:58. | :08:02. | |
market. We have seen other retailers try this, particularly Starbucks | :08:03. | :08:06. | |
trying to sell wine. Burger King says it will sell beer. It will sell | :08:07. | :08:14. | |
it it inn plastic bottles -- in plastic bottles. Beer and burger the | :08:15. | :08:20. | |
perfect combination, you might say. Let's talk about Nissan's figures, | :08:21. | :08:23. | |
because we have had an update from Nissan. Rising significantly, up by | :08:24. | :08:30. | |
more than 15%. Nissan following on from Peugeot and Citroen, it would | :08:31. | :08:34. | |
seem the European car makers had a really tough time since the 2008 | :08:35. | :08:37. | |
financial crisis are seeing a turn around which is encouraging. | :08:38. | :08:50. | |
China's economy is contracting for the third month in a row according | :08:51. | :08:56. | |
to the Government's latest factory survey. | :08:57. | :08:59. | |
Let's take you to our Asia Business Hub and Mariko Oi is | :09:00. | :09:02. | |
Numbers coming in below 50 is considered a contraction and this is | :09:03. | :09:12. | |
the third month in a row. It adds to worries about China's slowing | :09:13. | :09:17. | |
growth, most recently the country said that the economy is expanding | :09:18. | :09:23. | |
by 6.9%, but the slowest pace since the financial crisis. It has been | :09:24. | :09:29. | |
hit by a market turmoil as well as global slowdown in demand for | :09:30. | :09:32. | |
Chinese products, but the authorities have been trying to | :09:33. | :09:35. | |
rebalance its economy by trying to rely less on exports and boosting | :09:36. | :09:41. | |
domestic consumption. It is part of the longer term plan, but the | :09:42. | :09:46. | |
markets have been hit hardest, especially the Nikkei down more than | :09:47. | :09:50. | |
2% closing today. Thank you very much indeed. | :09:51. | :09:56. | |
Let's look at the markets in the region. Japanese markets down over | :09:57. | :10:05. | |
2%. That's mainly in reaction to the news from China, the factory news. | :10:06. | :10:09. | |
That's the Dow on Friday. Let's look at Europe now to have a sense of how | :10:10. | :10:12. | |
things are going there. As we saw earlier, most of the main markets | :10:13. | :10:15. | |
starting the week lower. Again, a lot of that is to do with the news | :10:16. | :10:19. | |
out of China and the concern about the global economy and the impact | :10:20. | :10:23. | |
the world's second biggest economy slowing will have on the rest of us. | :10:24. | :10:27. | |
We are having the figures behind me, despite good news. We have mentioned | :10:28. | :10:33. | |
Ryanair. Ryanair's shares up 30% year to date. HSBC out with strong | :10:34. | :10:38. | |
earnings as well. Surprisingly strong actually. Some good news from | :10:39. | :10:42. | |
various companies in Europe. We will talk about why these are lower | :10:43. | :10:47. | |
shortly. Some of the reasons why, but let's hear from our | :10:48. | :10:51. | |
correspondent who is in the US. It is a busy week for Wall Street with | :10:52. | :10:56. | |
a lot of data to be released and dissected on the state of the US | :10:57. | :10:59. | |
economy. First up Monday is a look at manufacturing and construction. | :11:00. | :11:03. | |
But the big focus will be jobs, jobs, jobs with the latest monthly | :11:04. | :11:07. | |
report out on Friday. Ahead of the Fed's meeting in December, where | :11:08. | :11:10. | |
they will weigh a possible rate hike this will be an important piece of | :11:11. | :11:14. | |
the puzzle as the policy makers decide if the economy is ready for | :11:15. | :11:19. | |
lift off. Federal Reserve chair is scheduled to speak before a | :11:20. | :11:22. | |
Government committee on Wednesday and analysts will certainly be | :11:23. | :11:26. | |
listening in. We will get a look at how many cars Americans bought in | :11:27. | :11:31. | |
October and earnings season continues. Visa will report its | :11:32. | :11:35. | |
fourth quarter results on Monday and later in the week Facebook and Walt | :11:36. | :11:37. | |
Disney Company. Simon Derrick is with us. | :11:38. | :11:47. | |
Manufacturing, we heard from Singapore about the Chinese figures. | :11:48. | :11:52. | |
We get them all today, we get French, German, UK in about an | :11:53. | :11:55. | |
hour's time, US later today. They tell us the story, don't they, of | :11:56. | :11:59. | |
the world economy. Services clearly very dominant, but manufacturing | :12:00. | :12:02. | |
gives us that indication of who is making stuff? That's been the way | :12:03. | :12:05. | |
the market has been looking at it over the last few months. The first | :12:06. | :12:10. | |
day of the trading month is proved to be one of the most important. We | :12:11. | :12:15. | |
get the manufacturing numbers. Slightly weaker numbers from China | :12:16. | :12:19. | |
as we heard. Expectation is we will get something above the break even | :12:20. | :12:23. | |
level, the 50 level for Europe, the UK and the US. The reason it matters | :12:24. | :12:29. | |
is it is focussed on monetary policy. We have got the Bank of | :12:30. | :12:35. | |
England coming out, there is talk that one extra person will vote in | :12:36. | :12:40. | |
favour of a rate hike. We have the Fed coming out and we have got a | :12:41. | :12:44. | |
European Central Bank which may ease rates. So unsurprising Monday is a | :12:45. | :12:52. | |
big day for us. Also as well, all these manufacturers are having to | :12:53. | :12:54. | |
grapple with the currency? Absolutely. For American | :12:55. | :12:57. | |
manufacturers, that's a big deal at the moment, isn't it? Well, currency | :12:58. | :13:03. | |
has become central to Central Bank's thinking because of this and if you | :13:04. | :13:07. | |
look at what the US Central Bank has been doing, they have been talking | :13:08. | :13:10. | |
about the concerns about dollar strength and yet at the same time | :13:11. | :13:15. | |
they are talking about raising interest rates which would cause the | :13:16. | :13:19. | |
dollar to go further. We will be looking closely to see if the dollar | :13:20. | :13:23. | |
strength is impacting on manufacturers, it won't be that big | :13:24. | :13:26. | |
a story, but it has been highlighted as an issue, we will see. Simon, for | :13:27. | :13:30. | |
now, thank you. I know you will talk us through the business pages later. | :13:31. | :13:34. | |
Still to come - the battle for your tourist dollars. | :13:35. | :13:36. | |
As the big players of the global travel and tourism | :13:37. | :13:38. | |
industry meet in London, we'll meet the man who knows where you want to | :13:39. | :13:42. | |
go on holiday, what you'll spend and exactly how you'll spend it. | :13:43. | :13:45. | |
Stay with us, this is Business Live from BBC News. | :13:46. | :13:56. | |
More bank results this morning - and today it's the turn of HSBC. | :13:57. | :14:02. | |
The banking gaint says pre-tax profits came in at ?3.95 billion | :14:03. | :14:04. | |
That's significantly above forecasts of of ?3.4 billion. | :14:05. | :14:10. | |
Simon bring us up-to-date? It is known as a comfortable beat. It beat | :14:11. | :14:25. | |
expectations and a bit surprising because as you have been saying, | :14:26. | :14:28. | |
China has been slowing down. The region around China had a crisis of | :14:29. | :14:33. | |
confidence over the past year. It is not just surprising, it is | :14:34. | :14:37. | |
misleading. A lot of the increase in profits was because this time last | :14:38. | :14:41. | |
year, HSBC was forking out a fortune in terms of fines and compensation | :14:42. | :14:45. | |
for customers who had been mis-sold. If you look at the revenue picture, | :14:46. | :14:49. | |
the revenue is slightly down. One of the interesting things though is | :14:50. | :14:53. | |
despite what's going on in China, no mention that the quality of their | :14:54. | :14:56. | |
loan book, people are actually affording to pay their loans back. | :14:57. | :15:00. | |
That's a comforting feature. As I say, revenue down. This is the share | :15:01. | :15:03. | |
price over the last year. It has been tricky. The shares are down | :15:04. | :15:08. | |
this morning despite the big profit numbers because underlying revenue | :15:09. | :15:11. | |
is going in the wrong direction and no word yet on where they're going | :15:12. | :15:15. | |
to put their HQ. It has been in London since the 1990s, but the big | :15:16. | :15:22. | |
tax levy on banks headquartered in London made them re-think, is it | :15:23. | :15:28. | |
going to be New York, Asia, at the moment, it is in London and no word | :15:29. | :15:31. | |
on that. The debate will continue into the | :15:32. | :15:36. | |
New Year the management at HSBC said although we are reviewing our | :15:37. | :15:40. | |
location in terms of HQ, we won't reveal any decisions on that until | :15:41. | :15:44. | |
the New Year. A great story in the Guardian, it | :15:45. | :15:52. | |
says the UK is losing millions in VAT from non-EU sellers and the | :15:53. | :15:58. | |
result of retailers trying to use the website and the market place | :15:59. | :16:02. | |
side of Amazon to sell things abroad, but they said there was no | :16:03. | :16:11. | |
EU compliance. So many more of us do our shopping | :16:12. | :16:21. | |
in the run-up to Christmas online, eBay, Amazon are the beneficiaries | :16:22. | :16:24. | |
at this time of year. Lots more on the website. Do take a look. | :16:25. | :16:39. | |
Ryanair's profits for the first-half of the year soaring by 37%. The | :16:40. | :16:46. | |
reason behind the bumper number poor weather in Western Europe made more | :16:47. | :16:51. | |
of us go on holiday and a strong British pound and also, its improved | :16:52. | :16:55. | |
customer service. We were sceptical about the airline saying it would be | :16:56. | :16:58. | |
caring and sharing, but the numbers tell the story! | :16:59. | :17:04. | |
It's that time of year when you might be planning that next holiday. | :17:05. | :17:07. | |
Where will you go, what will you do and how much will you spend? | :17:08. | :17:10. | |
Well, while you're weighing up the options, the travel industry is | :17:11. | :17:13. | |
It's closely monitoring demand to make sure travel operators, | :17:14. | :17:16. | |
airlines and hotels are ready to rake in your tourist dollars. | :17:17. | :17:19. | |
Global tourism and travel contributed | :17:20. | :17:22. | |
an extraordinary $7.58 trillion to the world's economy in 2013. | :17:23. | :17:30. | |
The number of tourists was 1.1 billion in 2014 with France | :17:31. | :17:37. | |
and the United States among the most popular destinations. | :17:38. | :17:39. | |
Namibia, Montenegro, Zambia and China are | :17:40. | :17:41. | |
the fastest emerging tourism destinations according to analysts. | :17:42. | :17:53. | |
And the nation whose tourists spend the most money, unsurprisingly | :17:54. | :17:55. | |
its China with nearly $165 billion a year spent on travel. | :17:56. | :18:00. | |
We are joined by the Secretary-General of the United | :18:01. | :18:06. | |
Nations World Tourism Organisation. Welcome. Some staggering numbers | :18:07. | :18:10. | |
there. We are looking at this because the world travel market gets | :18:11. | :18:14. | |
underway a gathering of all tourism bosses in London. A huge number and | :18:15. | :18:19. | |
also a huge industry. One that's growing every year? Correct. Travel | :18:20. | :18:24. | |
has become and tourism as a result has become part of our way of life, | :18:25. | :18:28. | |
our culture. It moved from being a human need into a human right really | :18:29. | :18:33. | |
now. There is no way that this could retreat and the growth is showing | :18:34. | :18:37. | |
it. So far this year, we have issued our latest data two days ago. It is | :18:38. | :18:45. | |
4.3% increase over 2014 which is even 5% increase over 2013 and so on | :18:46. | :18:49. | |
and so forth. How much of the growth has come from low oil prices? We | :18:50. | :18:53. | |
have talked about Ryanair benefiting hugely. It means more people can go | :18:54. | :18:59. | |
overseas and it is costing less to do so frankly. Is that a direct | :19:00. | :19:03. | |
result of the low oil price? Well, it is one of them. The increased | :19:04. | :19:07. | |
travel industry and the increased movement especially air travel is a | :19:08. | :19:12. | |
factor, but that's not only due to the lower oil prices. Currency is a | :19:13. | :19:20. | |
factor. Increased economic activities, enlargement of the | :19:21. | :19:23. | |
middle-class you were talking about, the China growth. China will be | :19:24. | :19:30. | |
spending by the end of 2015 about 200 billion US inside one year | :19:31. | :19:35. | |
because the middle-class is growing incredibly, India, Brazil is | :19:36. | :19:39. | |
growing, the emerging markets are becoming very good source markets. | :19:40. | :19:42. | |
Also, as well, as you mentioned, this growth rate that you're | :19:43. | :19:46. | |
discussing, you know, billions, trillions, etcetera, you are looking | :19:47. | :19:48. | |
at the number of people or money that's coming in. It is so | :19:49. | :19:52. | |
important, isn't it, to most economies? The tourism industry | :19:53. | :19:56. | |
within a country is a money spinner, isn't it? So for example countries | :19:57. | :20:01. | |
like Greece which is facing a financial crisis, which is also | :20:02. | :20:06. | |
facing a migrant crisis as well, you know, on its borders, on the | :20:07. | :20:09. | |
islands, the tourism industry for them for example is vital that it | :20:10. | :20:13. | |
goes well? It is a savour. And many, many countries that have been | :20:14. | :20:17. | |
experiencing economic difficulties found that tourism is a way out. | :20:18. | :20:23. | |
Greece is an example. But it is extremely important to face the most | :20:24. | :20:26. | |
important challenges which is job creations. One out of 11 jobs over | :20:27. | :20:31. | |
the world are created by the travel and tourism industry. You may have a | :20:32. | :20:37. | |
slight recovery in the economic situation, but the jobs are behind | :20:38. | :20:40. | |
and it is really still a challenge. The other important factor in the | :20:41. | :20:45. | |
economic value chain is the horizontal nature of tourism. It | :20:46. | :20:48. | |
affects so many other factors, shopping, you were talking about | :20:49. | :20:51. | |
shopping, the food industry, the transport industry, it is a very, | :20:52. | :20:56. | |
very important in terms of the value, chain, impact of it. | :20:57. | :21:00. | |
You talk about the value chain. You also talk about trying to promote | :21:01. | :21:04. | |
tourism as environmentally sustainable, a driver of economic | :21:05. | :21:08. | |
growth, inclusive development and trying to make sure the communities | :21:09. | :21:12. | |
in which tourism takes place benefit from it. Can the two ever go | :21:13. | :21:16. | |
hand-in-hand? Absolutely. That's why we are part of the UN system because | :21:17. | :21:22. | |
we are concerned about the agenda of sustainable. What we should try to | :21:23. | :21:27. | |
keep in mind is never to be afraid of growth, embrace growth, but do it | :21:28. | :21:30. | |
the right way because if we see growth on the one hand and | :21:31. | :21:35. | |
sustainability on the other hand we are missing the point here and yes, | :21:36. | :21:38. | |
we can and it has been done. It has been done in many, many cases around | :21:39. | :21:41. | |
the world. Briefly, because we are almost out of time, I wanted to ask | :21:42. | :21:46. | |
you at this event in London, are you discussing or looking at the impact | :21:47. | :21:50. | |
of the migrant crisis? This movement of people that's affecting mainly | :21:51. | :21:54. | |
Europe, but North Africa and the impact that has on tourism, if it | :21:55. | :21:59. | |
has any impact? Well, we have to look at all the factors affect the | :22:00. | :22:04. | |
travel industry, but we have to be careful not to mix the two issues. | :22:05. | :22:09. | |
Mixing the two together... Some governments and agencies that | :22:10. | :22:11. | |
receive people, there is the whole issue of security? Right. Right. | :22:12. | :22:15. | |
That's the danger of it. Is that we tend to become too protective about | :22:16. | :22:19. | |
the travel industry and the security people take over. We need to promote | :22:20. | :22:23. | |
is the concept of safe and friendly travel. Safe alone is not enough, | :22:24. | :22:28. | |
you are killing the very industry that you're trying to protect, but | :22:29. | :22:32. | |
friendly alone is not enough because you need to have safe travel and | :22:33. | :22:35. | |
that's the balance we try to keep. Really nice to see you. Thank you | :22:36. | :22:38. | |
for explaining that and best of luck with the conference today. Thank | :22:39. | :22:42. | |
you. The secretary General of the United | :22:43. | :22:45. | |
Nations World Tourism Organisation. Here is a remind tore get in touch. | :22:46. | :22:56. | |
The Business Live web page is where you can stay ahead with the day's | :22:57. | :23:01. | |
breaking business news. Wep keep you up-to-date with insight and analysis | :23:02. | :23:04. | |
from the BBC's team of editors around the world and we want to hear | :23:05. | :23:09. | |
from you too. Get involved on the BBC Business Live web page. | :23:10. | :23:15. | |
Or on Twitter. And you can find us on Facebook. | :23:16. | :23:22. | |
Business Lis on TV and online whenever you need to know. | :23:23. | :23:36. | |
S Well, get in touch with us. Simon is back with us to look at the | :23:37. | :23:40. | |
papers. Simon a lot in there, let's start with Turkey. We mentioned it | :23:41. | :23:43. | |
at the start of the programme and yesterday, an important election | :23:44. | :23:46. | |
result in Turkey. What does it mean financially? What does it mean for | :23:47. | :23:51. | |
the markets, we know Turkey is a surging economy and one with a young | :23:52. | :23:55. | |
population, what does the election result mean? I suspect more than | :23:56. | :23:59. | |
that side of it. I think from the investment prospective it is a sign | :24:00. | :24:05. | |
of stability in what is otherwise this instability that's grown up in | :24:06. | :24:09. | |
the eastern Mediterranean from that prospective, investors will take | :24:10. | :24:14. | |
heart. They have done already. You can see the Turkish Labour had | :24:15. | :24:17. | |
making gains pulled back a little bit. For anybody that's looking for | :24:18. | :24:24. | |
stability and looking also for relatively healthy yield then Turkey | :24:25. | :24:28. | |
represents a really healthy option out there. We will probably see more | :24:29. | :24:33. | |
of this, but it is more the fact after the uncertainty in the last | :24:34. | :24:37. | |
six months, we see a way forward politically. The Wall Street Journal | :24:38. | :24:41. | |
has an interesting article on apps you can get to keep an eye on stock | :24:42. | :24:45. | |
markets, shares going up and down and all over the shop. What do you | :24:46. | :24:50. | |
think? A bad idea to use an app and be constantly watching or good idea? | :24:51. | :24:54. | |
OK. I think that you can look too much at markets. I mean, I have done | :24:55. | :24:59. | |
this job for a long time and there are points when actually the | :25:00. | :25:03. | |
smartest thing to do is to turn the screens off because there is only so | :25:04. | :25:07. | |
much analysis you can do, if you're getting prices all the time you are | :25:08. | :25:13. | |
likely to react and if you have got a long-term plan... There was a time | :25:14. | :25:21. | |
when we didn't have the technology or the availability, you needed to | :25:22. | :25:27. | |
have an ex-Spencive subscription and now it in your pocket. Even if you | :25:28. | :25:33. | |
look once a day, you don't have the intraday noise coming in. You make | :25:34. | :25:36. | |
the comparison to where the price closed the previous day. More often | :25:37. | :25:41. | |
than not, you will find it is up, it is down, you won't have the stuff | :25:42. | :25:48. | |
that's going to cause you uncertainty, me, I'd turn the | :25:49. | :25:52. | |
screens off. That's good advice. Screen downtime, I like that. As | :25:53. | :25:56. | |
long as your screen downtime is not during our programme! | :25:57. | :26:00. | |
Have a really good day. That's it from us for today. We will see you | :26:01. | :26:03. | |
tomorrow. Bye-bye. | :26:04. | :26:10. |