Browse content similar to 25/01/2016. Check below for episodes and series from the same categories and more!
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Hello, this is business live from the BBC. Running out of steam, the | :00:00. | :00:12. | |
mini rally in oil prices comes to a halt despite the cold weather in the | :00:13. | :00:13. | |
US. Live from London, | :00:14. | :00:19. | |
that's our top story It was nice while it latest for oil | :00:20. | :00:20. | |
producers but the spike in the price of oil is quickly fizzling out - | :00:21. | :00:35. | |
so where will they stabilise - Adidas ends its sponsorship deal | :00:36. | :00:42. | |
with athletics world governing body four years early - | :00:43. | :00:50. | |
over the doping scandal sweeping And this is how European markets | :00:51. | :00:53. | |
look in the first half We'll discuss the week | :00:54. | :00:58. | |
ahead for investors. And can Europe be turned | :00:59. | :00:59. | |
into a technology hub to rival for Adidas to pull out | :01:00. | :01:02. | |
of its sponsorship deal? Oil on the agenda - | :01:03. | :01:13. | |
and crude has taken a steep fall in the last couple of hours, | :01:14. | :01:33. | |
reversing its gains from earlier It comes after a volatile week that | :01:34. | :01:36. | |
saw oil prices drop to 13-year lows. So - the big question - | :01:37. | :01:42. | |
what happens next? Oil has seen dramatic falls over | :01:43. | :01:45. | |
the past 18-months - and is now just a fraction | :01:46. | :01:47. | |
of its peak in the middle of 2014. Between one and two million barrels | :01:48. | :01:51. | |
a day are being pumped over and above what is needed - | :01:52. | :02:03. | |
it's all a big battle between producers to try | :02:04. | :02:06. | |
to gain market share. The International Energy Agency says | :02:07. | :02:07. | |
unless something changes then the oil market could | :02:08. | :02:13. | |
drown in over-supply. So what going to happen | :02:14. | :02:15. | |
to oil over 2016? Here are a few expert | :02:16. | :02:19. | |
predictions from Davos. I could see a price, 30-40 in the | :02:20. | :02:29. | |
middle of the year is towards the end of the year could be in the 50s. | :02:30. | :02:34. | |
I think the oil price in six months will be at the level of 35- $40 per | :02:35. | :02:40. | |
barrel. I think it will be about $35 in six months. There is oversupply, | :02:41. | :02:46. | |
very little demand, we all want to blame China for our awards and | :02:47. | :02:49. | |
couples, but this is not the only problem. Nobody knows exactly what | :02:50. | :02:54. | |
it will be but my protectionist $30. I want to bet at $20, the reason? | :02:55. | :03:00. | |
You guys know, the oil price in six months will be $15 per barrel | :03:01. | :03:07. | |
because of the extraordinary glut in oil on the planet. It might even go | :03:08. | :03:14. | |
to $5 per barrel, maybe even that low. The price of oil in six months? | :03:15. | :03:18. | |
Sure it will keep on going down and down. That is safe, notice she | :03:19. | :03:23. | |
didn't put a price on that. Richard Mallinson, an analyst | :03:24. | :03:24. | |
from Energy Aspects joins us Put your money where your mouth is, | :03:25. | :03:34. | |
what do you think? There are visited the different opinions. We think the | :03:35. | :03:37. | |
first half of the year oil prices will remain under pressure, not | :03:38. | :03:39. | |
necessarily, slower than the scene, necessarily, slower than the scene, | :03:40. | :03:43. | |
but not come much higher. The second half of the year we will see a | :03:44. | :03:47. | |
recovery, the market is beginning to rebalance. That is not the focus but | :03:48. | :03:51. | |
when that becomes clear we can see a rally later in the year. You say the | :03:52. | :03:55. | |
first six months six months around 28- $30 per barrel and the last six | :03:56. | :04:00. | |
months, when you save recovery come what you mean? Exactly where? We | :04:01. | :04:04. | |
think the fourth quarter this year we will see prices above $60 per | :04:05. | :04:09. | |
barrel for Brent big recovery. It's interesting when you look at oil | :04:10. | :04:14. | |
price and equity market, commodity markets are clearly suffering | :04:15. | :04:16. | |
volatility and has been replicated with the equity markets. How much | :04:17. | :04:23. | |
can be read into the link between the two? How much will depend on | :04:24. | :04:26. | |
what oil does this year for the wider market and economy? I think | :04:27. | :04:30. | |
the last few weeks we saw this interesting spiral were oil price is | :04:31. | :04:35. | |
headed lower and that pushed equity markets lower but because equity | :04:36. | :04:39. | |
markets went down, oil sold off again and that does not really | :04:40. | :04:42. | |
follow. If you look at the theory and think about the world, the | :04:43. | :04:47. | |
biggest economies are net oil importers, benefiting from lower | :04:48. | :04:52. | |
prices and should get a boost. The volatility and uncertainty are bad | :04:53. | :04:55. | |
for economic growth but generally lower oil prices are a boost for the | :04:56. | :05:00. | |
global economy. We saw that in terms of oil demand last year and we will | :05:01. | :05:04. | |
see that continuing to be a benefit. In countries like India, very price | :05:05. | :05:07. | |
sensitive customers appointed by soil. As we were hearing from the | :05:08. | :05:13. | |
people we talked to in Davos and the other people quoted widely in the | :05:14. | :05:17. | |
press, many think much lower, $15 per barrel, one person said $5 per | :05:18. | :05:23. | |
barrel, why don't you believe it will go below $28 per barrel? We | :05:24. | :05:30. | |
look at the fundamentals, the supply, demand, and when you think | :05:31. | :05:34. | |
about the cost of producing oil, yes, there are low-cost regions, but | :05:35. | :05:38. | |
the marginal barrels can the last few barrel is the world needs, even | :05:39. | :05:42. | |
in a Channel 4 supply market, frock -- come from and higher cost region. | :05:43. | :05:48. | |
If we get a series of negative headlines you cannot push prices | :05:49. | :05:53. | |
beyond that. We are already beyond prayer pure fundamentals would | :05:54. | :05:58. | |
justify. As we saw last week, the further you go, the more attentive | :05:59. | :06:01. | |
for people who were putting positions on prices going down to | :06:02. | :06:05. | |
take that profits to come out and it pushes it back you. It is the | :06:06. | :06:11. | |
conversation we will have again, I'm sure. | :06:12. | :06:14. | |
Sportswear giant Adidas has told the athletics' world governing body | :06:15. | :06:17. | |
it's to terminate their sponsorship deal four years early, | :06:18. | :06:21. | |
The company informed the IAAF of its decision - | :06:22. | :06:24. | |
understood to be a direct result of the doping scandal | :06:25. | :06:28. | |
the move will result in tens of millions of dollars | :06:29. | :06:33. | |
Four senior executives are to leave Twitter as the social | :06:34. | :06:37. | |
media giant attempts to halt its tumbling share price. | :06:38. | :06:41. | |
Since co-founder Jack Dorsey returned as CEO last year, | :06:42. | :06:43. | |
the company's value has fallen by over 35%. | :06:44. | :06:46. | |
The shake-up will see the departure of key staff from the company's | :06:47. | :06:49. | |
product, media and engineering divisions. | :06:50. | :06:54. | |
Federal government offices in the Washington area will be | :06:55. | :06:57. | |
closed on Monday after a blizzard over the weekend dumped more than 21 | :06:58. | :07:00. | |
The government shut down the offices at noon on Friday ahead | :07:01. | :07:05. | |
of the storm, and they remained closed Saturday and Sunday. | :07:06. | :07:13. | |
Let's take a look round the world at what's | :07:14. | :07:15. | |
business stories are making the news. | :07:16. | :07:21. | |
Russia must work with Opec. Since quitting the vice president of Luke | :07:22. | :07:29. | |
oil saying that Russia needs to work with Opec on cuts in oil supply to | :07:30. | :07:34. | |
world markets in a bid to support prices. Opec is always in the | :07:35. | :07:37. | |
background in terms of pressure on or off it dealt with the price in | :07:38. | :07:41. | |
general. And a quick word on Saudi Arabia. Not one country you might | :07:42. | :07:47. | |
expect to be trying to boost tourism but it can be expanded to encourage | :07:48. | :07:51. | |
more visitors to the country. Questions already about why you | :07:52. | :07:55. | |
would want to go there. Of course, lots of religious tourism but why | :07:56. | :07:59. | |
the tourism? Infrastructure is not particularly well for tourists. I | :08:00. | :08:04. | |
have been there, and it's not someone that makes ranking to get | :08:05. | :08:09. | |
back to given that they threw me out last time. Journalists not | :08:10. | :08:12. | |
necessarily welcome, but that's another story. Let's look around the | :08:13. | :08:16. | |
world about what business stories are making the news. | :08:17. | :08:20. | |
And Japanese shares have risen - despite the latest trade figures | :08:21. | :08:24. | |
showing exports falling for a third straight month ... | :08:25. | :08:27. | |
Chinese shares have begun the week on a stronger footing, | :08:28. | :08:29. | |
extending the gains we saw on Friday after that rally in oil prices. | :08:30. | :08:32. | |
Xbox in Japan have dropped from 8% in the year earlier. More than | :08:33. | :08:38. | |
expected come in Port set fell by 18%, suggesting the slowdown in | :08:39. | :08:40. | |
China is continuing to affect demand. Why is it up by all 1%? One | :08:41. | :08:50. | |
of the reasons is hoping the Japanese Government will take action | :08:51. | :08:54. | |
after this bad news and late last week the markets surged after media | :08:55. | :08:59. | |
reports suggested Japan's Central bank would continue monetary easing. | :09:00. | :09:04. | |
All eyes will be on the bank of Japan, which is meeting at the end | :09:05. | :09:08. | |
of the week and will be watching to see how it sets out its monetary | :09:09. | :09:13. | |
policy. Thank you. We will all be watching that, more from our | :09:14. | :09:17. | |
Singapore business bureau later in the week. Shares in Asia gained only | :09:18. | :09:25. | |
got a stronger footing, extending begins on Friday after the rally in | :09:26. | :09:26. | |
oil price. Shanghai's market up | :09:27. | :09:27. | |
just shy of 1 percent, In Europe, those gains on Friday | :09:28. | :09:29. | |
came somewhat of a surprise after one of the worst ever | :09:30. | :09:33. | |
starts to a trading year, driven by concerns over falling oil | :09:34. | :09:35. | |
prices, disappointing earnings, And as we've discussed, | :09:36. | :09:38. | |
there'll be a lot of attention paid to where oil prices stabilise, | :09:39. | :09:46. | |
and if it recovers back towards $40 a barrel, | :09:47. | :09:48. | |
especially with the cold We have the details on what will | :09:49. | :10:06. | |
happen on Wall Street today. McDonald's are a suspected child | :10:07. | :10:11. | |
lived their fourth-quarter sales but there second largest oil producer, | :10:12. | :10:15. | |
Halliburton, is expected to because a steep fall in fourth-quarter | :10:16. | :10:19. | |
profits, the surprise given the struggle in the aisle industry the | :10:20. | :10:22. | |
reports from other big corporations including Apple and Boeing and the | :10:23. | :10:25. | |
Federal Reserve will not get quite as much attention this time but | :10:26. | :10:29. | |
investors will be anxious for any region on whether the central bank | :10:30. | :10:33. | |
plans to slow its path of interest-rate hikes. Also a host of | :10:34. | :10:39. | |
economic data out, most importantly fourth-quarter gross domestic | :10:40. | :10:42. | |
product, confirming worries the US economy should -- slow sharply from | :10:43. | :10:47. | |
the third quarter. That is quite a busy week. | :10:48. | :10:51. | |
Joining us is Richard Fletcher, Business Editor at The Times. | :10:52. | :10:55. | |
A very busy week that started unusually the stock market high-end | :10:56. | :11:02. | |
oil price high. Did not start long. The first positive Monday this year | :11:03. | :11:07. | |
in Asia! The first time we had a Monday Asia stock, without it would | :11:08. | :11:12. | |
be a good week but unfortunately it seems to have gone red since then. | :11:13. | :11:16. | |
Obviously a busy week. We have the Fed meeting and the central banks | :11:17. | :11:22. | |
have been behaving like parents of badly behaved toddlers, they threw a | :11:23. | :11:31. | |
suite into the pen but any of us who have had toddlers, the treats that | :11:32. | :11:35. | |
last furlong. The tantrum seems to be coming back. It is a very busy | :11:36. | :11:41. | |
weekend wheels of GDP, but it will be quite a bumpy ride, despite last | :11:42. | :11:46. | |
week's gains. Despite the volatile nature of last week, we did end up | :11:47. | :11:56. | |
in London. It's incredible when you think about how the week when. If | :11:57. | :12:00. | |
you look at that they are, the excitement did not last long at all, | :12:01. | :12:04. | |
is such a equally say where we talk about markets and certainty but what | :12:05. | :12:09. | |
is it they want? It's got to be more? The markets love the idea of | :12:10. | :12:14. | |
more stimulus last week, we had big hints from Mario Draghi and it looks | :12:15. | :12:18. | |
like we'll get hints from Japan at the end of the week and markets have | :12:19. | :12:27. | |
been becoming more about the Fed and expect three hikes from the Fed this | :12:28. | :12:32. | |
year, whereas the Fed made it as clear as they ever make anything, | :12:33. | :12:36. | |
lots of hints, it would be for this year. It seems the markets want more | :12:37. | :12:41. | |
stimulus but is free money has to end at some point. We keep being | :12:42. | :12:48. | |
told that, don't we? Thank you. You will be back shortly to talk us | :12:49. | :12:51. | |
through some of the other stories out there today. | :12:52. | :12:58. | |
Can you be made into technology hub to equal silicon valley? That's | :12:59. | :13:04. | |
coming up. Not great news for investors this | :13:05. | :13:05. | |
year - with UK companies set to cut dividends for the first | :13:06. | :13:12. | |
time since 2010. That could mean bad | :13:13. | :13:15. | |
news for pension funds. That is the issue, not just | :13:16. | :13:28. | |
investors who stand to lose outcome is associated people who are | :13:29. | :13:31. | |
related? Yes, it's a big part of the return when you buy shares, not just | :13:32. | :13:35. | |
the price, but the income you generate and Centrica, Sainsbury's, | :13:36. | :13:41. | |
Tesco, they already cut their dividends and many more will cut | :13:42. | :13:44. | |
this year. Dividends were doubly bit last year but the commodity price | :13:45. | :13:49. | |
bust and oil price crash, all that is cashed up the companies. Then me | :13:50. | :13:53. | |
show you something. This is an information page about them. This is | :13:54. | :13:59. | |
for every pound how much income you get and it had a yield of 14%. You | :14:00. | :14:06. | |
think, crikey, that sounds good, I will get 14p for every pound, but | :14:07. | :14:10. | |
that is a dead ringer for something that the Devlin -- dividend will be | :14:11. | :14:14. | |
cut. It will be amazing if they manage to pay that much. Some of the | :14:15. | :14:19. | |
big miners are expected to cut. A very important component for pension | :14:20. | :14:23. | |
funds, they get the incoming from there and that gets cut it a | :14:24. | :14:25. | |
headache for them. Some countries are doing better than | :14:26. | :14:37. | |
a few years ago, namely the banks. Lloyds, the LLoyds Banking Group is | :14:38. | :14:41. | |
back on its feet and has begun to pay dividends and that like it could | :14:42. | :14:44. | |
become a big dividend paying giant. Some of them black -- backing the | :14:45. | :14:49. | |
trend, but overall space dividends payments to go down. Thank you. HSBC | :14:50. | :14:57. | |
in the news, the Telegraph looking at the fact that after a nine-month | :14:58. | :15:02. | |
review of where its headquarters should be located we could find out | :15:03. | :15:07. | |
this week if it will decide to keep its HQ in the City of London or | :15:08. | :15:13. | |
Canary Wharf or if it will be on the move to Hong Kong, perhaps. There | :15:14. | :15:18. | |
has been a lot of debate about this, but whether they are simply using | :15:19. | :15:21. | |
this to try and argue against things like the bank levy that it says | :15:22. | :15:26. | |
unfairly penalises aid and whether the Government should reassess the | :15:27. | :15:30. | |
potential losses that would be a result if they were to move their | :15:31. | :15:34. | |
headquarters. Some say it's an empty threat, they would not actually do | :15:35. | :15:35. | |
it. Worth watching. The rally in oil prices has come to | :15:36. | :15:54. | |
a halt since he called spot in the US. | :15:55. | :15:57. | |
Websites for this, apps for that and many of them with | :15:58. | :16:03. | |
Many of them are created in America's Silicon Valley. | :16:04. | :16:06. | |
So what hope is there for contenders from elsewhere? | :16:07. | :16:08. | |
Well, one London investment fund hopes Europe can rival | :16:09. | :16:10. | |
Called Seedcamp, it was setup in 2007 to invest new tech | :16:11. | :16:14. | |
More than eight years later they've invested hundreds | :16:15. | :16:16. | |
of millions of dollars into more than 200 new companies - | :16:17. | :16:19. | |
which operate across the world.One of the biggest areas for investment | :16:20. | :16:22. | |
is so-called Fin-Tech, financial technology - | :16:23. | :16:26. | |
which makes up 15-per cent of their portfolio | :16:27. | :16:30. | |
With me is Reshma Sohoni, founder of the investment firm | :16:31. | :16:36. | |
So much when it comes to tech start-ups, and the thing that stands | :16:37. | :16:46. | |
up -- stand out from me that we try and find finance for them and what | :16:47. | :16:50. | |
you do is how you spot them. How do you work out what is viable? There | :16:51. | :16:55. | |
are so many every year that come online, how do you judge what is a | :16:56. | :16:58. | |
good start up and therefore worthy of money? I think the ecosystem you | :16:59. | :17:02. | |
have around an experience, we've been at it about a decade, that | :17:03. | :17:07. | |
helped a lot. What we look for is how is the technology instructor for | :17:08. | :17:11. | |
the industry of choice and also perseverance. You look for pound -- | :17:12. | :17:17. | |
founders who are going to go to debt and spend the building something | :17:18. | :17:21. | |
powerful and for us and a lot of the asset class, for it to drive it | :17:22. | :17:24. | |
needs to be a globally relevant business, world-class. How risky is | :17:25. | :17:30. | |
it for you? Obviously you are mentioning the key things you look | :17:31. | :17:34. | |
out for but I issue many companies you invest in gold make it? We have | :17:35. | :17:38. | |
a 20% death rate and it should really be 40%. Close to half should | :17:39. | :17:45. | |
really die because it's very risky and trying to get into the hearts | :17:46. | :17:50. | |
and minds of consumer -- consumers is difficult. When you look at the | :17:51. | :17:53. | |
new start-ups there are so many that come online together and it's not | :17:54. | :17:56. | |
necessarily that there is a unique proposition, I would imagine it's | :17:57. | :18:00. | |
quite a view to quite a few to -- doing a similar thing. Is there a | :18:01. | :18:05. | |
reason why one takes off and the others fail? ASBOs the skill as a | :18:06. | :18:09. | |
spot in the one that will take off? You are spot on and it's a multitude | :18:10. | :18:14. | |
of factors and I think it's that entire network of factors coming | :18:15. | :18:19. | |
together to make something drive and money. Capital matters a lot, | :18:20. | :18:22. | |
whether it is going into hiring the top talent or into marketing or | :18:23. | :18:28. | |
rising above the noise. Your business can you started in 2007. | :18:29. | :18:35. | |
What a time to start a venture capital company investing in tech | :18:36. | :18:41. | |
stock! As we enter a volatile period, I would say it's a reminder | :18:42. | :18:45. | |
to us to look back to those times and say, actually, some of the worst | :18:46. | :18:49. | |
times in the economy as the best times for start-ups. Why? It is a | :18:50. | :18:54. | |
tough period and if you can put money down and investing great | :18:55. | :18:58. | |
founders you have the rise of the market to go after and it helps | :18:59. | :19:06. | |
everyone float higher, so the worst period is when to invest. What | :19:07. | :19:10. | |
industries do you look at? Is your door open to anyone or anything that | :19:11. | :19:15. | |
comes through with a new idea that is a Jean-Julien Rojer or DuPont did | :19:16. | :19:19. | |
on specific industries? I think we seen a lot of the disruption in | :19:20. | :19:22. | |
things like coat-tails and transport and travel. Haughey saturated | :19:23. | :19:28. | |
market, I imagine? Absolutely, you go towards things that are part of | :19:29. | :19:32. | |
your geography. Being in London and at the centre of gravity of European | :19:33. | :19:38. | |
industry and capital, we are certainly prevailed towards the | :19:39. | :19:42. | |
intake and property tech, which are huge, so if you talk about rivalry | :19:43. | :19:46. | |
versus the US, are trying to say we would not call out at the same angle | :19:47. | :19:50. | |
and same industries but we try and look at other industries which are | :19:51. | :19:54. | |
huge. Talking of the rivalry, you say Europe will become a serious | :19:55. | :20:00. | |
rival to silicon valley, you are from the States, you can tell from | :20:01. | :20:04. | |
your accent, how close are we to that? I think in the nature of the | :20:05. | :20:08. | |
competition will not be the same, but in terms of value of quantum it | :20:09. | :20:13. | |
can seriously rivalled the valley, to industries, financial services, | :20:14. | :20:17. | |
property tech and others can help detect and so forth, no reason why | :20:18. | :20:20. | |
the UK and Europe cannot be at the forefront. We're being told we got | :20:21. | :20:24. | |
to finish it here, which is. Thank you for coming in. In a moment what | :20:25. | :20:33. | |
the business places -- pages are discussing, but here's a reminder of | :20:34. | :20:34. | |
how you can get in touch. We want to hear from you. Get | :20:35. | :20:52. | |
involved on the BBC business live web page. You can also find us on | :20:53. | :21:05. | |
Twitter and Facebook. Business live, on TV and online, whenever you need | :21:06. | :21:12. | |
to know. We're looking at the stories we've not mentioned yet. | :21:13. | :21:13. | |
Richard Fletcher, Business Editor at The Times is joining us | :21:14. | :21:15. | |
Rahane is out there in the Saudi orders a load of aeroplanes, it | :21:16. | :21:24. | |
would seem? He's coming to Europe this week, you will be in Paris and | :21:25. | :21:28. | |
this is one of the deals that will be announced, probably the biggest, | :21:29. | :21:32. | |
not just planes and oil, we had a story on Saturday about the fact | :21:33. | :21:36. | |
that pistachio nuts, a range that 60% of the market for sanctions were | :21:37. | :21:41. | |
imposed. That collapsed and California pistachios, they're | :21:42. | :21:48. | |
trying to get the Government 's two inches a 200% tariff because they've | :21:49. | :21:51. | |
been used to having the market for themselves. Saffron in Spain is | :21:52. | :21:56. | |
another market that will be hit. There is some big deals and small | :21:57. | :22:01. | |
deals, but not small if you work in those markets. Apparently their | :22:02. | :22:05. | |
current features 44 planes, so this is more than doubling it. Looking at | :22:06. | :22:09. | |
the numbers, is an upgrade for a fleet that has an average age of 25 | :22:10. | :22:16. | |
years. Some aircraft predates the 1979 Islamic revolution. The head of | :22:17. | :22:19. | |
Iran air trying to do these negotiations says don't talk about | :22:20. | :22:24. | |
it too much because we need to steal this deal. You understand that even | :22:25. | :22:28. | |
catering is a big issue? We take it for granted that there is these | :22:29. | :22:32. | |
services but in Iran that is not necessarily the case. He did not | :22:33. | :22:37. | |
want to fly on Iran air, 1200 deaths since 1980, a large number caused by | :22:38. | :22:41. | |
criminal failure. Good news for the people of Iran goes their flying on | :22:42. | :22:45. | |
slightly zephyr planes. It's about proving to the Arabian people that | :22:46. | :22:50. | |
is letting can be good for them economically because it's about | :22:51. | :22:53. | |
boosting these, there is a tendency to think all of these foreign firms | :22:54. | :22:57. | |
will come in as tap into our market but it's a two-way process. | :22:58. | :23:02. | |
Absolutely, the possession of nuts are example. Busy summer in ring in | :23:03. | :23:04. | |
money coming into the London property market as well. How | :23:05. | :23:08. | |
driverless cars could kill the speeding ticket and rob your city. | :23:09. | :23:15. | |
That is one line. I would imagine most people think, great. This is | :23:16. | :23:21. | |
the law of unintended consequences. Everyone has worked out driverless | :23:22. | :23:24. | |
cars are more law-abiding than me and maybe you as well. So | :23:25. | :23:31. | |
Washington, for example, the issue over 700 fines for cutting red | :23:32. | :23:37. | |
lights every day. $37 million per year. It is big business. For local | :23:38. | :23:43. | |
authorities it could be bad news around the world as these | :23:44. | :23:49. | |
law-abiding cars. Staggering statistics, $307 million in revenue | :23:50. | :23:51. | |
over ten years just from speed cameras. He said it is an entire | :23:52. | :23:57. | |
industry, one which could disappear overnight. Yes, leisure can | :23:58. | :24:01. | |
programme your driver 's car to slightly bruised his bid limits come | :24:02. | :24:05. | |
yes, I'm sure someone will somewhere. As Mike driverless car to | :24:06. | :24:09. | |
slightly push the limit. That's quickly mention this story about | :24:10. | :24:16. | |
Adidas and earlier than expected end of its sponsorship deal with the | :24:17. | :24:20. | |
IAAF. This is amazing, just a few months before the Olympics, it could | :24:21. | :24:25. | |
be challenged in court. Adidas are relying on the fact they believe | :24:26. | :24:30. | |
these revelations about drug abuse allowed them to use disk was in the | :24:31. | :24:36. | |
contract that allows them to end it now. The IAAF could change that, but | :24:37. | :24:41. | |
we'll have to wait and see. We dug by the French implication. This lays | :24:42. | :24:45. | |
bare how much money is involved in sport when you talk with ending | :24:46. | :24:48. | |
sponsorship from one company which tens of millions at stake? Yes, it | :24:49. | :24:55. | |
goes to show how close these manufacturers are to athletics and | :24:56. | :24:59. | |
how much money has been involved. Thank you. We appreciate all your | :25:00. | :25:04. | |
comments. Let's squeeze in some of yours. You sent us some of your | :25:05. | :25:08. | |
thoughts on social media. We been asking if you think is right for | :25:09. | :25:11. | |
editors just drop its sponsorship of the IAAF. Ryan says yes, I believe | :25:12. | :25:15. | |
there within their rights to leave the deal to do that tarnish | :25:16. | :25:20. | |
replication -- reputation for the about big business will not wanting | :25:21. | :25:26. | |
to that is with a business in difficulty. Until it cleans up its | :25:27. | :25:30. | |
act, good move by Adidas, it should leave more money for track and field | :25:31. | :25:34. | |
athletes. James says quite right for them to polite, all athletes across | :25:35. | :25:40. | |
all sports should be up to do that, they need to clean them up or their | :25:41. | :25:41. | |
brands will suffer. Where Wilshire and oil prices be | :25:42. | :25:53. | |
tomorrow? See you tomorrow. By life. -- goodbye. | :25:54. | :26:09. | |
Sunday saw some record-breaking January temperatures. 16.5 degrees | :26:10. | :26:16. | |
in the Western Highlands. Not quite as mild as that today, | :26:17. | :26:17. |