Browse content similar to 02/02/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Alice Baxter and Sally Bundock. | :00:00. | :00:08. | |
They may pump the black stuff, but they've now headed into the red. | :00:09. | :00:12. | |
Oil giant BP reveals just how bad things are with their latest set | :00:13. | :00:15. | |
of results as they grapples with falling revenues and further | :00:16. | :00:18. | |
Live from London, that's our top story on Tuesday, 2nd February. | :00:19. | :00:37. | |
Oil giant BP has reported an annual loss of $6.5 billion in 2015, | :00:38. | :00:44. | |
its worst results in more than 20 years. | :00:45. | :00:47. | |
The British company struggled with a sharp downturn | :00:48. | :00:51. | |
Also in the programme, Alphabet, Google's parent company, | :00:52. | :01:02. | |
has surpassed Apple as the world's most valuable company | :01:03. | :01:06. | |
after its latest set of bumper earnings. | :01:07. | :01:08. | |
We'll keep you up-to-date with all the latest from the markets. | :01:09. | :01:13. | |
Asian shares slip on sliding crude oil prices and and downbeat | :01:14. | :01:16. | |
And Europe follows suit, opening lower. | :01:17. | :01:19. | |
And the boss of Icelandair will be with us in the studio to tell us | :01:20. | :01:25. | |
about its attempts to mix it up with the big boys of global air | :01:26. | :01:29. | |
travel and some try some unusual methods to win passengers. | :01:30. | :01:34. | |
Whatsapp boasts it now has a billion users. | :01:35. | :01:36. | |
Oil Giant BP has reported a headline loss of $6.5 billion for 2015 as it | :01:37. | :01:58. | |
massively downgraded the value of its oil reserves | :01:59. | :02:02. | |
Stripping out the effect of that adjustment, the company made profits | :02:03. | :02:10. | |
of $5.9 billion for the year - a 51% fall since last year | :02:11. | :02:13. | |
and the figures for the last quarter showed a 90% drop | :02:14. | :02:17. | |
As you can see, the firms share price has had a rough ride over | :02:18. | :02:25. | |
While dealing with the plummeting oil prices it has also been hit | :02:26. | :02:31. | |
with billions of dollars of fines relating to the Deep Water Horizon | :02:32. | :02:34. | |
Last month the company said it would cut 4,000 jobs globally | :02:35. | :02:41. | |
while slashing billions of dollars from spending on new projects. | :02:42. | :02:46. | |
Today the firm also announced that it would cut up to three | :02:47. | :02:53. | |
news will be worrying for shareholders and in particular | :02:54. | :02:59. | |
pension funds that rely on the large dividend which is currently worth | :03:00. | :03:02. | |
This is how the shares are doing this morning as well | :03:03. | :03:11. | |
BP currently down over 5.6%. Brent Crude hovering under $34, so that | :03:12. | :03:29. | |
recent rally we saw, that's pairing back. | :03:30. | :03:36. | |
I am joined now by Markets analyst, Jason Gammel from the investment | :03:37. | :03:41. | |
Al Is outlined the grim numbers there? Yes, it was a disappointing | :03:42. | :03:56. | |
number. That is a bit troubling. The cash generation was also relatively | :03:57. | :04:03. | |
weak in the quarter. They did generate ?5 billion in cash but ?3 | :04:04. | :04:06. | |
billion was from changes in the balance sheet. Why do you think they | :04:07. | :04:13. | |
are retaining the dividend? Well, I think the dividend is something that | :04:14. | :04:17. | |
is fairly sacrosanct at BP and they want to be able to distribute cash | :04:18. | :04:22. | |
to shareholders, the owners of their business. The dividend is in 2016 | :04:23. | :04:32. | |
going to be kind of a trade-off. There's about ?17 billion, they'll | :04:33. | :04:37. | |
generate ?20 billion so there is about a $3 billion short fall that | :04:38. | :04:42. | |
needs to come in through from incremental debt. You wonder going | :04:43. | :04:48. | |
forward what will the balance be between debt and capital expenditure | :04:49. | :04:51. | |
in the future and also where its investment is in the long-term | :04:52. | :04:56. | |
because against its peers, BP has lowest production growth really at | :04:57. | :05:01. | |
the moment? Yes. That's right. I think really most companies are | :05:02. | :05:05. | |
expecting that we'll see an increase in oil price from where we are at | :05:06. | :05:09. | |
today. So I think that really, the safety of the dividend is somewhat | :05:10. | :05:19. | |
reliant on on improvement in price. BP will invest but their growth is | :05:20. | :05:23. | |
limited than their peers so they'll have catching up to do. A new Depp | :05:24. | :05:29. | |
tell Chief Executive was announced yesterday, Lemar McKay, who's been | :05:30. | :05:34. | |
at BP for some time. Is this the beginning of a succession plan as | :05:35. | :05:37. | |
far as Bob Dudley is concerned or is it about dealing with the | :05:38. | :05:41. | |
challenging times? I would tend to lean towards the latter but we don't | :05:42. | :05:46. | |
really know, this was only announced yesterday afternoon, I imagine | :05:47. | :05:49. | |
they'll speak about it on today's conference call. He's been at BP for | :05:50. | :05:56. | |
a long time, perhaps not the right age to be successor to Bob Dudley | :05:57. | :06:01. | |
given that they are only about two years apart I believe but we'll hear | :06:02. | :06:04. | |
more about that this afternoon. Thank you so much, Jason Gammel. BP | :06:05. | :06:13. | |
very much in focus, a big player on the FTSE 100 and the shares down | :06:14. | :06:18. | |
over 5%. So let's have a look at some of the stories on the BBC live | :06:19. | :06:24. | |
page in a minute, but you have other stories to come first. | :06:25. | :06:28. | |
In other news, it's reported Yahoo's boss Marissa Mayer is set to reveal | :06:29. | :06:31. | |
cost-cutting plans that include slashing 15% of its workforce - | :06:32. | :06:35. | |
that's roughly 1,600 jobs, and closing some business units. | :06:36. | :06:40. | |
Plans could be announced after Yahoo's fourth-quarter | :06:41. | :06:44. | |
WhatsApp has hit the billion user mark. The number of people using it | :06:45. | :07:03. | |
has more than doubled since Facebook bought it in 2014. | :07:04. | :07:06. | |
Russia is lining up major state companies including Aeroflot, | :07:07. | :07:10. | |
diamond miner Alrosa and Rosneft, for potential privatisation | :07:11. | :07:13. | |
as the country looks for options to recoup revenues lost | :07:14. | :07:15. | |
The latest slide in crude prices is expected to drive Russia | :07:16. | :07:20. | |
into a second year of recession and has ripped a gaping hole | :07:21. | :07:23. | |
One story I would like to mention is national Australia Bank for some | :07:24. | :07:41. | |
time's been talking about trying to change its business and part of that | :07:42. | :07:46. | |
has been the demerger of Clydesdale bank. It would seem that that | :07:47. | :07:51. | |
demerger is off or at least the floatation is delayed for now. | :07:52. | :07:55. | |
Because of a credit rating query. That is the story that's broken in | :07:56. | :07:59. | |
the last hour which would effect many, many of you who're customers | :08:00. | :08:03. | |
with Clydesdale bank so keep an eye on that story. More on that on the | :08:04. | :08:05. | |
business live page. Sainsbury's have made an offer for | :08:06. | :08:25. | |
Home Retail Group who own Argos. A previous offer was rejected. We know | :08:26. | :08:29. | |
a deal is now going through. The jury is still out as to whether this | :08:30. | :08:33. | |
is a good deal. A lot more information on that as well on the | :08:34. | :08:40. | |
business live, as well as BP, the news we have just had out later in | :08:41. | :08:46. | |
the programme. We have Kamal Ahmed joining us shortly. | :08:47. | :08:48. | |
Let's take a look round the world at what business stories | :08:49. | :08:51. | |
And profits at games maker Nintendo have fallen 36% because of a lack | :08:52. | :08:59. | |
What is the latest? If you love playing video games, Nintendo is | :09:00. | :09:13. | |
famous for Super Mario and Splatoon and the like. The profits fell by | :09:14. | :09:17. | |
36% in the most recent quarter, the three months to December. The figure | :09:18. | :09:23. | |
came in at $241 million, below analyst estimates. The reason really | :09:24. | :09:29. | |
is because they need more hit titles, more games, software that | :09:30. | :09:34. | |
will sell their hardware, so we saw lower holiday sales of the Nintendo | :09:35. | :09:41. | |
Wii and the 3DS because people are not snapping up titles like they | :09:42. | :09:44. | |
used to. That said, it's a big year for the company. Nintendo is looking | :09:45. | :09:49. | |
for a new growth driver so there'll be a big shake-up of the company, | :09:50. | :09:53. | |
the biggest since 1970. So next month we are going to see the debut | :09:54. | :10:03. | |
of its first smartphone game call. It's also developing a new console | :10:04. | :10:10. | |
and there may be more on virtual reality. Investors were not | :10:11. | :10:14. | |
expecting too much because the shares fell about 1.5% in Tokyo | :10:15. | :10:17. | |
ahead of the afoundsment. Let's stay in the region | :10:18. | :10:19. | |
because Asian shares fell on Tuesday as crude oil extended it's heavy | :10:20. | :10:24. | |
losses from the previous session on continued oversupply fears, | :10:25. | :10:26. | |
hitting Asia's beleaguered energy stocks as most regional markets | :10:27. | :10:29. | |
retreated from a recent rally. Weak factory data from China | :10:30. | :10:32. | |
to the United States also added to the selling pressure, | :10:33. | :10:34. | |
although Shanghai and Hong Kong did Japan's Nikkei ended down 0.6% | :10:35. | :10:38. | |
as investors locked in profits after two straight days of big gains | :10:39. | :10:46. | |
following the Bank of Japan's surprise decision to introduce | :10:47. | :10:51. | |
negative interest rates In Europe all the major indexes have | :10:52. | :10:53. | |
followed Asia in opening lower. Alphabet, the company which owns | :10:54. | :11:00. | |
the search engine Google, has now overtaken Apple | :11:01. | :11:06. | |
to become the world's most Here's Nadia Tawfik to tell us more | :11:07. | :11:08. | |
on this and what's making the business world in | :11:09. | :11:13. | |
the United States today. Alphabet is $568 billion, so | :11:14. | :11:23. | |
surpassing Apple. If you look at the report, it was very much in line | :11:24. | :11:28. | |
with what investors expected. The revenue was up around 17% for the | :11:29. | :11:33. | |
quarter, off the back of its core Google business really and the | :11:34. | :11:37. | |
strength there with mobile ads and YouTube ads. So that was to be | :11:38. | :11:41. | |
expected. What we were looking for in this report is how the other part | :11:42. | :11:48. | |
of Alphabet, this new company with its other bets, other ventures which | :11:49. | :11:52. | |
are more ambitious, how that was affecting the overall revenue and | :11:53. | :11:54. | |
outlook of the company. Joining us at the markets | :11:55. | :12:06. | |
and the stories in the news He's the Chief Executive | :12:07. | :12:09. | |
for Nutmeg Investment Management. The first overnight results coming | :12:10. | :12:19. | |
through from Iowa. Quite interesting wasn't it? Absolutely fascinating. | :12:20. | :12:23. | |
We had so much last night, the transfer deadline day in the | :12:24. | :12:26. | |
football, the American election going on. And all this wonderful | :12:27. | :12:31. | |
economic and markets news as well, so for nerd like me it was just a | :12:32. | :12:37. | |
dream. You didn't sleep? Not at all. This story has three pillars to it. | :12:38. | :12:42. | |
The first one is that Ted Cruz is a really serious candidate and he's | :12:43. | :12:46. | |
come out having won the Iowa vote with a large share, about 28% of the | :12:47. | :12:51. | |
voters. Everybody thought that Trump would be the man because so many | :12:52. | :12:56. | |
first-time voters turned out. Not in Iowa though, because it's a kind of | :12:57. | :12:59. | |
Ted Cruz battleground, he was expecting to do well in this one? He | :13:00. | :13:05. | |
put so much effort into Iowa so if he hadn't won it would have been a | :13:06. | :13:10. | |
disaster. We saw the rise of Marco Rubio and I learnt that Iowa's one | :13:11. | :13:16. | |
of, if not the only state which has proportional voting, so the others | :13:17. | :13:21. | |
are all absolute, but in Iowa, Ted Cruz will get six votes, Trump will | :13:22. | :13:28. | |
get five and Rubio will as well, so they're almost tied. | :13:29. | :13:31. | |
Interesting that Hillary Clinton and Bernie Sanders are neck and neck? | :13:32. | :13:35. | |
Oh, and we don't know which way that is going to go. A couple of years | :13:36. | :13:44. | |
ago Romney was declared the winner, then Rick Santorum turned out to be | :13:45. | :13:53. | |
the winner. Amazingly close there. Really strong evangelical support. | :13:54. | :13:57. | |
Let's look at the Financial Times because this story here about a | :13:58. | :14:05. | |
spate of privatisations, a real reversal of what we have seen over | :14:06. | :14:09. | |
the course of Putin's decade and a half of rule in Russia where we have | :14:10. | :14:14. | |
seen a sort of maybe perhaps not straightforward nationalisation of a | :14:15. | :14:17. | |
lot of businesses but we have seen a decline in the sell off of shares of | :14:18. | :14:23. | |
a lot of the companies there? There's two reasons for that. One is | :14:24. | :14:28. | |
the sales in the early '90s which created the oligarch culture or the | :14:29. | :14:33. | |
few people, you know, the public have really rebelled against that, | :14:34. | :14:38. | |
there's been a big push back from the Russian population and Putin | :14:39. | :14:42. | |
recognises that. He doesn't want to make the same mistakes again. They | :14:43. | :14:46. | |
have to do something because of the hit the Russian economy is taking | :14:47. | :14:50. | |
with the oil prices? It's absolutely huge, the hole they have in their | :14:51. | :14:53. | |
budget. They are going to cut 10% of Government spending this year and | :14:54. | :14:59. | |
again, he's just asked his counterpart to say, please cut | :15:00. | :15:05. | |
another 5% 2010% off, can you imagine cutting 20% off the national | :15:06. | :15:08. | |
budget? ! The question is, could they sell anything in good value | :15:09. | :15:12. | |
because lots of their assets are energy based and now would be the | :15:13. | :15:14. | |
time to sell. Thank you very much. | :15:15. | :15:20. | |
Putinisation is what some are calling it on social media, as | :15:21. | :15:22. | |
opposed to privatisation. Icelandair looks | :15:23. | :15:25. | |
to freeze out the competition by offering the company's staff | :15:26. | :15:28. | |
including pilots and even the Chief Executive as personal tour | :15:29. | :15:30. | |
guides during transatlantic You're with Business | :15:31. | :15:32. | |
Live from BBC News. Sainsbury's has offered ?1.3 billion | :15:33. | :15:43. | |
to win control of Argos He is up north. Ben, tell us more. | :15:44. | :16:01. | |
Good morning girls. That's right, ?1.3 billion is what is on the | :16:02. | :16:05. | |
table. The deal is not yet a done deal. It just simply buys | :16:06. | :16:09. | |
Sainsbury's a little bit more time. They have agreed in principle this | :16:10. | :16:14. | |
cash and shares offer for Home Retail Group which owns the | :16:15. | :16:19. | |
retailer, Argos. They have got until 23rd February to finalise the deal. | :16:20. | :16:23. | |
You will know today is what we call put up or shut up dayment they had | :16:24. | :16:27. | |
to make a revised bid or walk away. The details of the revised bid is a | :16:28. | :16:34. | |
63% premium on the closing price of those Home Retail shares in January. | :16:35. | :16:38. | |
A deal they were holding out for, you will know they originally made | :16:39. | :16:42. | |
an offer that valued the firm at ?1 billion, but it was rejected in | :16:43. | :16:45. | |
November. Details of that only coming to light just recently. So | :16:46. | :16:49. | |
this is a revised offer, a higher offer, one worth ?1.3 billion. | :16:50. | :16:56. | |
Sainsbury's deciding to put up then. Are job cuts at Argos inevitable, do | :16:57. | :17:03. | |
we think? What you look at in the detail is what it means for areas or | :17:04. | :17:06. | |
towns or cities across the country that have both a Sainsbury's and an | :17:07. | :17:11. | |
Argos in close proximity. Sainsbury's says it expects to shut | :17:12. | :17:15. | |
a third of stores if they are close together and that is part of its | :17:16. | :17:18. | |
efforts to try and cut costs. It says it wants to save ?120 million | :17:19. | :17:29. | |
by rationalising the business. It means putting concessions from Argos | :17:30. | :17:36. | |
in a Sainsbury's store. That's inevitable and it is trying to | :17:37. | :17:40. | |
remove the overlap. The big question of why Sainsbury's is interested in | :17:41. | :17:44. | |
Argos. It comes down to the infrastructure that Argos has in | :17:45. | :17:46. | |
place. It is known as a retailer where you can get this stuff. Argos | :17:47. | :17:50. | |
spent a lot of money building the infrastructure to make sure people | :17:51. | :17:53. | |
are able to get deliveries quickly and that's something that | :17:54. | :17:57. | |
Sainsbury's wants. Ben, it is really good it check-in with you. Ben | :17:58. | :18:02. | |
Thompson there. He will be back tomorrow. This is Stelios, he has | :18:03. | :18:14. | |
launched an online grocery shop. You're watching Business Live. | :18:15. | :18:23. | |
Our top story: Underlying fourth-quarter profits | :18:24. | :18:34. | |
fell to $196 million, compared with $2.2 billion | :18:35. | :18:45. | |
for the same period Despite the poor results | :18:46. | :18:47. | |
the firm says its dividends Let's get the inside track | :18:48. | :18:50. | |
on what it takes to make a breakthrough in the competitive | :18:51. | :18:54. | |
world of Air travel. Icelandair is an Islandic airline | :18:55. | :18:56. | |
which operated out of 39 cities In recent years the airline has | :18:57. | :18:59. | |
grown considerably and this year they hope to transport 3.5 million | :19:00. | :19:02. | |
passengers that's 500,000 more One of the reasons for that growth | :19:03. | :19:05. | |
is Iceland's geographical location. Icelandair is able to offer low cost | :19:06. | :19:13. | |
one-stop transatlantic flights to passengers from other | :19:14. | :19:15. | |
countries in Europe The company now wants to build | :19:16. | :19:17. | |
on this success and is offering passengers on transatlantic routes | :19:18. | :19:22. | |
the option to stay in Iceland for up to seven nights at no | :19:23. | :19:24. | |
additional airfare cost. As a bit of a sweetener the firm | :19:25. | :19:32. | |
also says it will allow customers to use the company's staff including | :19:33. | :19:36. | |
pilots and even the Chief Executive as a personal tour guide | :19:37. | :19:39. | |
during their stopovers. With me is Birkir Holm Gounason, | :19:40. | :19:41. | |
Chief Executive for Icelandair. Welcome. Thank you. Let's talk about | :19:42. | :19:57. | |
this new buddy stop over idea that you're launching today. How will it | :19:58. | :20:00. | |
work? Basically, we have been offering a | :20:01. | :20:06. | |
stopover in Iceland since the 60s so people have the option to stay up to | :20:07. | :20:10. | |
seven nights on the way to North America or on the way back. Today we | :20:11. | :20:16. | |
are launching a service where staff will be a stopover buddy for one day | :20:17. | :20:20. | |
and I will be one of the buddies and we're going to take the passengers | :20:21. | :20:26. | |
around Iceland, show them our favourite places, locations and | :20:27. | :20:29. | |
restaurants and activities. Why do you want to introduce this? Do you | :20:30. | :20:33. | |
think Iceland is a country that's difficult to navigate as a tourist? | :20:34. | :20:37. | |
The general travel trend is changing. We did a survey among | :20:38. | :20:44. | |
11,000 tourists and people would like to spend more time with the | :20:45. | :20:48. | |
locals and the local culture instead of going to big tourist attractions. | :20:49. | :20:58. | |
So we believe the Airbnb and if you go to your friends you get to see | :20:59. | :21:01. | |
more interesting places. You know where to stay, where to eat, so we | :21:02. | :21:05. | |
want to be friendly. We are friendly, but we would like to show | :21:06. | :21:07. | |
it! But for those who are trying to get | :21:08. | :21:12. | |
from say London to a part of the United States, will look at going | :21:13. | :21:17. | |
via Iceland or via somewhere else to really reduce their costs? Yeah, | :21:18. | :21:21. | |
exactly. They are going to basically cut their air fare in half and go | :21:22. | :21:28. | |
via another destination. They don't necessarily want to stay for seven | :21:29. | :21:33. | |
days, they want to get on to cfl and crack on with their holiday there. | :21:34. | :21:37. | |
What makes you think it will be successful? The stopover project | :21:38. | :21:42. | |
increased 60% if recent years. A lot of people like to take a stopover in | :21:43. | :21:47. | |
Iceland because you don't have to pay anything additional in the air | :21:48. | :21:53. | |
fare. People go to the Will you Lagoon and all that. In our survey | :21:54. | :21:58. | |
and for the UK market, almost 70% of the people said they were | :21:59. | :22:01. | |
embarrassed they look liked a tourist. 23% said... No one wants to | :22:02. | :22:06. | |
look like a tourist, do they? 23% said they would rather like to | :22:07. | :22:10. | |
experience the local cultures, instead of going to the big tourist | :22:11. | :22:15. | |
attractions and 46% said that they would like to mix with the locals. | :22:16. | :22:20. | |
So I think this is something the travel trends are changing and | :22:21. | :22:25. | |
people if you look at Airbnb, house exchanges, people like to be around | :22:26. | :22:27. | |
the locals. A really interesting idea. It is. We shall watch to see | :22:28. | :22:32. | |
if it is successful or not. Thank you for coming. Thank you. And | :22:33. | :22:34. | |
telling us all about that. Let's take a closer look at a couple | :22:35. | :22:38. | |
of the bigger stories we have been Russian is lining up several | :22:39. | :22:53. | |
companies for potential privatisation as the Government | :22:54. | :22:56. | |
looks to compensate for the low price of oil. The New York Times is | :22:57. | :23:08. | |
reporting that Ted Cruz won the Iowa caucuses. | :23:09. | :23:15. | |
EasyJet airline founder Stelios has opened a trial Easyfood shop with | :23:16. | :23:20. | |
groceries sold at the knockdown price for 25 pence. I'm sure I can | :23:21. | :23:26. | |
pick up veg for 25 pence already. It is all orange inside as well! | :23:27. | :23:31. | |
Both BP and Alphabet have their results out and it's fair | :23:32. | :23:34. | |
to say they are at opposite ends on the spectrum. | :23:35. | :23:40. | |
Nice to see you, Kamal. It is such a busy day. I feel like I'm having to | :23:41. | :23:46. | |
catch my breath here. Do you want to start with BP and give us your | :23:47. | :23:51. | |
thoughts on that? BP, a really interesting business, clearly hugely | :23:52. | :23:54. | |
affected by the oil price. It has fallen 40% in the last year. If you | :23:55. | :23:59. | |
imagine an oil company, it is made out of two big drivers, oil | :24:00. | :24:04. | |
production, North Sea, Gulf of Mexico, exploration, that's | :24:05. | :24:07. | |
obviously been hit by the oil price drop. And it means that that is | :24:08. | :24:12. | |
really struggling now and fell to a loss in the final three months of | :24:13. | :24:16. | |
2015, compared to 2014, the second part of the business is downstream, | :24:17. | :24:21. | |
that's the refining, the selling of fuel to retail customers, that is | :24:22. | :24:25. | |
also struggling because the global slowdown has meant there is less | :24:26. | :24:28. | |
demand for refined products, it is losing more jobs in the downstream, | :24:29. | :24:32. | |
so these two engines are both spluttering and that's the problem. | :24:33. | :24:36. | |
The big message from Bob Dudley the Chief Executive has been this | :24:37. | :24:38. | |
morning, we will commit to the dividend. So at least investors and | :24:39. | :24:43. | |
savers and pension funds from around the world will be heaving a sigh of | :24:44. | :24:48. | |
relief. I was going to ask you about that. Many people are asking the | :24:49. | :24:51. | |
question, about the dividend can they really continue with that given | :24:52. | :24:54. | |
their financial situation? Well, obviously making a loss in parts of | :24:55. | :24:58. | |
your business is unsustainable. When I spoke to Bob Dudley two weeks ago, | :24:59. | :25:02. | |
he said that the oil price he thought would rise towards the end | :25:03. | :25:06. | |
of the year. He made a big bet that that would be the case, because cost | :25:07. | :25:10. | |
efficiencies, job cuts, taking on new debt, can only last for so long. | :25:11. | :25:15. | |
Otherwise, there will have to be another radical slimming of the | :25:16. | :25:21. | |
business. Quickly, Kamal, Alphabet, Google's parent company surpassing | :25:22. | :25:24. | |
Google as the world's most valuable company? Spectacular. A company that | :25:25. | :25:30. | |
has diversified in sharp contrast to Apple. Apple focussed on two or | :25:31. | :25:39. | |
three well done products. Google, android mobile, research, people are | :25:40. | :25:42. | |
using those things and they are highly, highly profitable. Thank | :25:43. | :25:46. | |
you, Kamal. So much more analysis online. | :25:47. | :25:56. | |
Thanks for your company. More Business Live tomorrow. Bye-bye. | :25:57. | :26:13. | |
Hello there. Storm Henry it starting to pull away from the UK now. This | :26:14. | :26:18. | |
wet weather front will bring | :26:19. | :26:19. |