Browse content similar to 09/02/2016. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
This is Business Live from BBC News with Ben Thompson | :00:00. | :00:07. | |
As the biggest mining conference in the world gets | :00:08. | :00:10. | |
underway today in South Africa - the big players are there - | :00:11. | :00:13. | |
what will they decide at this critical time? | :00:14. | :00:16. | |
Live from London, that's our top story on Tuesday 9th February. | :00:17. | :00:34. | |
Digging deeper - leaders from the world's top mining | :00:35. | :00:36. | |
companies gather in South Africa as their industry faces its biggest | :00:37. | :00:38. | |
Also in the programme, more market turmoil as jitters | :00:39. | :00:45. | |
about global economic growth batters Japanese stock markets. | :00:46. | :00:49. | |
Investors across Europe are on alert - we'll make sense of the turmoil | :00:50. | :00:53. | |
connecting with our teams in Asia and on Wall Street. | :00:54. | :00:58. | |
And there's been another big selloff on global markets - | :00:59. | :01:01. | |
we'll get the expert view on all you need to know. | :01:02. | :01:04. | |
And we'll be getting the inside track on one African | :01:05. | :01:06. | |
company that's riding the commodities rollercoaster | :01:07. | :01:12. | |
and finding fertile ground to grow a business. | :01:13. | :01:20. | |
And as the UAE appointed its First Minister of happiness, we want to | :01:21. | :01:25. | |
know what other government jobs should be created. What do you want | :01:26. | :01:28. | |
to be a minister of? Let us know. We're starting with commodities | :01:29. | :01:31. | |
today as the global It's down to a slowing world | :01:32. | :01:42. | |
economy, not least China, where demand for | :01:43. | :01:47. | |
commodities is falling. As the biggest mining conference | :01:48. | :01:50. | |
in the world gets underway in South Africa they're assessing | :01:51. | :01:55. | |
the jobs cuts and falling You can see here just how | :01:56. | :02:01. | |
the price of copper, gold and platinum all fared | :02:02. | :02:06. | |
in the last 12 month. The industry has had | :02:07. | :02:14. | |
to dramatically cut costs. South Africa - the world's largest | :02:15. | :02:18. | |
platinum and manganese producer - could lose as many 32,000 jobs, | :02:19. | :02:21. | |
according to the country's mining Not welcome news when | :02:22. | :02:23. | |
the unemployment rate And mining firms have had | :02:24. | :02:26. | |
to make huge write downs. South32, the mining group spun | :02:27. | :02:32. | |
out of BHP Billiton, plans to write down $1.7 billion | :02:33. | :02:35. | |
on the value of its assets everywhere from Australia | :02:36. | :02:39. | |
to South Africa and Brazil. And it's also had a knock-on | :02:40. | :02:48. | |
effect on currencies. As commodity prices slid in 2015, | :02:49. | :02:50. | |
so did the currencies of most of the commodity | :02:51. | :02:53. | |
producing countries. Take Brazil's Real, down 33% | :02:54. | :02:55. | |
and the South African Rand, But one mining executive says | :02:56. | :02:58. | |
there are opportunities to be had. Like everything in this modern | :02:59. | :03:18. | |
world, there is always opportunities now to reposition, consolidates. | :03:19. | :03:22. | |
These are times when new companies emerge, a new bunch of | :03:23. | :03:25. | |
entrepreneurs, people with different ideas. That is the marvel of | :03:26. | :03:31. | |
capitalism, when it is broke, there is always somebody who will come and | :03:32. | :03:37. | |
fix it. That was Mark Bristow, the chief executive of one mining | :03:38. | :03:38. | |
company. Neil Dwane, a mining analyst | :03:39. | :03:39. | |
from at Allianz Global Investors, Nice to see you. Mark has reason to | :03:40. | :03:49. | |
be cheerful, his company is doing very well. Does he have a point, in | :03:50. | :03:56. | |
this type of environment, that is how capitalism is? There are great | :03:57. | :04:01. | |
opportunities to be had? Yes, and I think because he is in the gold | :04:02. | :04:05. | |
sector and there is little additional supply, he is in a unique | :04:06. | :04:10. | |
position. If you are in the iron, copper or coal markets, like most of | :04:11. | :04:15. | |
South Africa, you are computing in a global environment, your currency is | :04:16. | :04:20. | |
very important to the competitiveness of your product. He | :04:21. | :04:23. | |
is kind of saying, these are not my problems. We would expect the strong | :04:24. | :04:30. | |
to get stronger. He is the boss of Arundel mining, he has been on this | :04:31. | :04:35. | |
company many times. South Africa is in a particularly difficult session | :04:36. | :04:40. | |
and in Cape Town, where the mining embargo is happening at the moment, | :04:41. | :04:46. | |
it is very much on government minds that they get the right sentiment | :04:47. | :04:49. | |
and the right deals during the conference? What we have seen in 20 | :04:50. | :04:54. | |
years has been a global boom in mining, people have not had to worry | :04:55. | :04:58. | |
about making themselves attract because they wanted to supply China | :04:59. | :05:00. | |
and the rest of the world with resources. Now the world has | :05:01. | :05:05. | |
changed, it has become competitive. Many of the companies and many | :05:06. | :05:09. | |
people like Mark Bristow, who are investing, with thing, what would | :05:10. | :05:17. | |
Brazil or Australia offer us? They had to find the right balance | :05:18. | :05:20. | |
between social stability and employment and making their economy | :05:21. | :05:26. | |
attract for inward investment. I discuss job losses, the cuts in | :05:27. | :05:29. | |
investment and the effect on mining firms. Will there be much sympathy | :05:30. | :05:34. | |
for mining firms? They have had it so good for so long, we have seen | :05:35. | :05:39. | |
record prices of most commodities in the last decade. You might say they | :05:40. | :05:45. | |
should put rain away -- money away for a rainy day? Most companies have | :05:46. | :05:49. | |
been well resourced, but the challenges up until 18 months ago | :05:50. | :05:56. | |
were, of course, with the difficulties everybody wanted their | :05:57. | :06:00. | |
share of the pie, the government, employees and shareholders all | :06:01. | :06:04. | |
wanted it. But it now transpires that was the top for the industry | :06:05. | :06:09. | |
and there is not enough money to go around. Capitalism in theory has a | :06:10. | :06:14. | |
destructive as well as a creative side, when you build assets lasting | :06:15. | :06:18. | |
25 or 30 years you can change your mind once you have made it, you are | :06:19. | :06:22. | |
stuck with it for the disabled future. | :06:23. | :06:25. | |
It is long-term investment. Thank you so much for coming in and giving | :06:26. | :06:34. | |
as your opinions. We have a team in Cape Town, so when we hear anything | :06:35. | :06:36. | |
more, we will tell you. Global markets have fallen | :06:37. | :06:38. | |
again on persistent fears In Japan the main market - | :06:39. | :06:41. | |
the Nikkei 225 - was down Shares in Australia | :06:42. | :06:45. | |
are also down nearly 3%. It follows heavy losses | :06:46. | :06:48. | |
on Wall Street and in Google's chief executive | :06:49. | :06:50. | |
Sundar Pichai has become the best Last year, he earned stock | :06:51. | :06:52. | |
options worth $199 million, taking his personal stake | :06:53. | :07:01. | |
in the company to $650 million. Mr Pichai took the position as chief | :07:02. | :07:05. | |
exec as part of the company's A public inquiry into fracking | :07:06. | :07:08. | |
in the North West of England opens today after Lancashire Council | :07:09. | :07:13. | |
rejected proposals by energy firm Cuadrilla to drill for shale gas | :07:14. | :07:15. | |
at two sites in the county. But with oil prices falling, | :07:16. | :07:22. | |
experts say the venture won't be In the US, many fracking companies | :07:23. | :07:24. | |
are still struggling to make money with oil prices | :07:25. | :07:29. | |
at just $35 a barrel. Lots of stories on Bbc Business Life | :07:30. | :07:51. | |
online. This is a bit more detail on how things went in Japan. A very | :07:52. | :07:55. | |
unusual day for market in Asia, most of them closed for the lunar New | :07:56. | :08:00. | |
Year break. Only Japan and Australia were trading, they make a close down | :08:01. | :08:10. | |
5.4% lower. Among the big losers were the big financial companies. | :08:11. | :08:16. | |
But also clashes in Hong Kong as part of the lunar New Year | :08:17. | :08:20. | |
celebrations, some local vendors decided to sell goods and did not go | :08:21. | :08:25. | |
down well. As our Hong Kong corresponded points | :08:26. | :08:32. | |
out, normally they would turn a blind eye to illegal traders in the | :08:33. | :08:35. | |
streets, but this year they are getting tough and have cracked down, | :08:36. | :08:40. | |
which sparked protests. And just a reminder, we want to know | :08:41. | :08:44. | |
whether you have any thoughts about what government ministers should be | :08:45. | :08:48. | |
created after the United Arab Emirates -- Emirate created a | :08:49. | :08:55. | |
Minister for happiness. One said that he wanted a Minister for | :08:56. | :09:01. | |
slashing and burning this size of government! Ministry without | :09:02. | :09:08. | |
portfolio! Keep your comment is... Comments coming in at BBCBizLive. | :09:09. | :09:12. | |
Our team in Singapore is looking at the twists and turns in Asia. Tim, | :09:13. | :09:21. | |
tell us more about what went on in Japan? Virtually no share was | :09:22. | :09:27. | |
unaffected as the benchmark Nikkei plummeted. It reflects broad | :09:28. | :09:30. | |
concerns about the local economy, banks and rock ridges copied a | :09:31. | :09:35. | |
severe beating. It also has to do with the yen, which investors tends | :09:36. | :09:41. | |
to buy as a safe haven in times of uncertainty, today it went to its | :09:42. | :09:44. | |
highest level since the -- against the dollar since 2014. Japanese | :09:45. | :09:51. | |
government bonds were affected, yields sinking below zero for the | :09:52. | :09:55. | |
first time. Much of the region is closed for Chinese New Year, but the | :09:56. | :10:00. | |
indexes that are open tended to follow Japan peers lead and also | :10:01. | :10:05. | |
fell, Australia, Thailand and the Philippines all closing down today. | :10:06. | :10:16. | |
The Hang Seng is closed, the Nikkei file. | :10:17. | :10:28. | |
-- fell. Those persistent worries in Europe about the global slowdown are | :10:29. | :10:32. | |
affecting markets. A lot of debate about whether it is founded in any | :10:33. | :10:36. | |
reality or if it is just the usual knee jerk reaction to any little bit | :10:37. | :10:41. | |
of information? We will assess that in a moment with our guest Jeremy, | :10:42. | :10:46. | |
that first what will make headlines in the United States? | :10:47. | :10:47. | |
Let's get the latest from the US markets with Michelle Fleury. | :10:48. | :10:51. | |
Wall Street will be jittery on Tuesday morning after the near | :10:52. | :10:56. | |
router which took place on Monday, at one point the Dow Jones was down | :10:57. | :11:03. | |
almost 401 points. Will betide any company that reports disappointing | :11:04. | :11:06. | |
earnings, and there are lots of companies to look out for this | :11:07. | :11:11. | |
Tuesday, among them Coca-Cola, which reports its full-year profits. | :11:12. | :11:15. | |
Strong sales in the US are expected, but so is some weakness overseas | :11:16. | :11:20. | |
caused by, you guessed it, the strong US dollar, the culprit that | :11:21. | :11:23. | |
keeps coming back to haunt American companies. What Disney will get its | :11:24. | :11:28. | |
first chance to feel the force in its accounts, I am talking Star | :11:29. | :11:32. | |
Wars. Its first-quarter revenues are expected to get a boost from the | :11:33. | :11:35. | |
latest Star Wars film, which took record amounts up the time of its | :11:36. | :11:40. | |
release. The force continues to awaken! | :11:41. | :11:42. | |
Joining us is Jeremy Cook, chief economist at World First. | :11:43. | :11:49. | |
Jeremy, what a 24, 48-hour with yet again? A really, really bad start to | :11:50. | :11:55. | |
the week. We thought with the lunar New Year, China being closed and a | :11:56. | :11:59. | |
very good jobs number at the US on Friday that things on Monday morning | :12:00. | :12:05. | |
would be quieter. After about an hour it just continue to get worse | :12:06. | :12:09. | |
over the course of the day. The year of the monkey, I was talking to a | :12:10. | :12:15. | |
colleague in Singapore, he said people are saying that the year of | :12:16. | :12:19. | |
the monkey means volatility, lots of bugs and downs, twists and turns, it | :12:20. | :12:23. | |
is happening? What is interesting yesterday was that the focus was | :12:24. | :12:29. | |
firmly on the banks, particularly on Deutsche Bank. What is going on? | :12:30. | :12:36. | |
There are lots of hallmarks of 2008? European banks were in focus, | :12:37. | :12:40. | |
Deutsche Bank were right in the cross hairs. Investors might be, | :12:41. | :12:43. | |
rightly or wrongly, believing they might not be able to repay some of | :12:44. | :12:48. | |
their more volatile that is. We know the European banks in the UK have | :12:49. | :12:52. | |
been hit quite hard from a litigation point of view over the | :12:53. | :12:56. | |
last couple of years, income is also quite low at the moment, people are | :12:57. | :12:59. | |
looking at the balance sheet is and going, can they stay in this? Hence | :13:00. | :13:05. | |
the fears yesterday. Jeremy will look at some of the stories in about | :13:06. | :13:07. | |
five minutes. Fertile ground to grow a business - | :13:08. | :13:08. | |
African mining giant Cominco makes its money mining phosphates | :13:09. | :13:12. | |
used around the world as fertiliser. We'll ask how easy it is to do | :13:13. | :13:15. | |
business in Africa - and how technology is changing | :13:16. | :13:17. | |
the way they operate. You're with Business | :13:18. | :13:20. | |
Live from BBC News. Let's focus on the UK housing | :13:21. | :13:28. | |
market. Housebuilder Redrow says profits | :13:29. | :13:31. | |
jumped 14% in the last six Chairman Steve Morgan says | :13:32. | :13:33. | |
it was an outstanding six months. Joe Lynam is following | :13:34. | :13:37. | |
this story for us. Joe, we are all struggling with | :13:38. | :13:48. | |
rising house prices but, once again, good news for those who build them? | :13:49. | :13:57. | |
Pretty true. They are one of the big house-builders in the UK, Redrow, | :13:58. | :14:01. | |
they had a record set of profits for the financial quarter we have just | :14:02. | :14:06. | |
had, around ?104 million in pre-tax profits. They said they completed | :14:07. | :14:11. | |
2178 homes, the completions are really important because that | :14:12. | :14:15. | |
indicate how many homes they are able to build. In written it is a | :14:16. | :14:20. | |
lot to do with planning permission, getting the land, getting it | :14:21. | :14:23. | |
approved and developing a -- in Britain it is a lot to do with. The | :14:24. | :14:28. | |
boss says he faces the problem of skills, getting the brickies, | :14:29. | :14:33. | |
plumbers and construction experts on site to build these homes, as well | :14:34. | :14:37. | |
as getting the land approved. Then there is the issue of affordability. | :14:38. | :14:40. | |
There is a report from the Lib Dems political party claiming that the | :14:41. | :14:44. | |
average price of a property in the UK by 2032, and we will all be a | :14:45. | :14:51. | |
good bit older, will be over ?1 million. It is around quarter of ?1 | :14:52. | :14:56. | |
million now. It gives you an idea of how expensive properties will be. I | :14:57. | :15:00. | |
spoke to chairman Steve Morgan today, he says the demand is huge | :15:01. | :15:04. | |
and he can see the affordability issue coming into play for his | :15:05. | :15:08. | |
company yet. This chart shows you that the company has done pretty | :15:09. | :15:12. | |
well over the last year, but so have many home-builders as the helped to | :15:13. | :15:13. | |
buy scheme comes into play. So you might think we are headed for | :15:14. | :15:27. | |
a recession. The signs certainly suggest in some respects that we | :15:28. | :15:31. | |
could be, but Goldman Sachs, the US investment bank, says no. There is a | :15:32. | :15:34. | |
near zero risk of UK recession. This is a story in The Telegraph this | :15:35. | :15:40. | |
morning. And it says, "Well, the stock market and credit tremors are | :15:41. | :15:45. | |
sending off false signals." The Goldman Sachs report talks about the | :15:46. | :15:48. | |
fact that the UK economy in the developed world at the moment is one | :15:49. | :15:52. | |
of the strongest economies in terms of the fundamentals and how the | :15:53. | :15:57. | |
economy is performing. So some positive news about the UK economy | :15:58. | :15:58. | |
from Goldman Sachs. Global economic jitters fuels | :15:59. | :16:03. | |
the worldwide sell-off. We look at the damage being wreaked | :16:04. | :16:16. | |
on the mining industry. Now, we've talked already | :16:17. | :16:24. | |
in the programme about the slump The African commodities giant, | :16:25. | :16:27. | |
Cominco, is making money from mining And it's in demand from | :16:28. | :16:35. | |
the agricultural industry, but can only be mined in the US, | :16:36. | :16:44. | |
Africa and the Middle East. But with supplies in the US | :16:45. | :16:47. | |
dwindling, and the Middle East frequently rocked by political | :16:48. | :16:50. | |
tensions and security issues, Africa is the main | :16:51. | :16:51. | |
focus for the firm. He's the Chief Executive | :16:52. | :16:53. | |
for the African Company, Cominco that operates | :16:54. | :16:57. | |
in the Republic of the Congo which neighbours the | :16:58. | :16:59. | |
Democratic Republic of Congo. It is important we get that bit of | :17:00. | :17:15. | |
ge geography right. You are from Australia slam and this particular | :17:16. | :17:18. | |
company has been around for six years and it is specific to what | :17:19. | :17:22. | |
you're doing in that part of Africa, but your history is mining in | :17:23. | :17:26. | |
Australia, isn't it? Yes, I've built five mines in Australia and saw that | :17:27. | :17:30. | |
the opportunities in Africa were much bigger and greater. So just | :17:31. | :17:35. | |
tell us about your, how you dot to this point where you are now. I | :17:36. | :17:40. | |
understand you were given a map and from that map, you kind of figured | :17:41. | :17:45. | |
out there might be this massive phosphate opportunity... You're | :17:46. | :17:49. | |
right, Sally. Talk us through it? Well, I was shown a hand drawn map | :17:50. | :17:54. | |
six years which had a couple of dots on it where phosnate was known to | :17:55. | :17:59. | |
occur. I thought if this is one large deposit under soil cover, it | :18:00. | :18:02. | |
could be 50 kilometres long. The chances of that doing the case, are | :18:03. | :18:06. | |
fairly slim, but it turns out to be true. We have used some amazing | :18:07. | :18:14. | |
technology, built big databases using this software and able to | :18:15. | :18:18. | |
quickly and cost effectively prove up the largest deposit of phosphate | :18:19. | :18:23. | |
in the world. So in a six year period, since getting that hand | :18:24. | :18:29. | |
drawn map, you have invested $50 million already? Yes. And now you | :18:30. | :18:32. | |
are at the point where you can start digging up the stuff? Yes, that 50 | :18:33. | :18:36. | |
million, it sounds like a lot of money and it is, but for what we | :18:37. | :18:39. | |
have got for it, it has been cost effective because we have done so | :18:40. | :18:43. | |
much hi-tech work and this is the key for modern exploration and mine | :18:44. | :18:46. | |
development now. It is big science and we've used this software to pull | :18:47. | :18:54. | |
together satellite data, remote sensing and we have done aerial | :18:55. | :19:01. | |
surveys which culminated in a precise geolocation. The first drill | :19:02. | :19:09. | |
hold hit deposits and we have got the biggest deposit in the world. We | :19:10. | :19:13. | |
look at pictures and we think of these huge mines with big mining | :19:14. | :19:18. | |
machinery. That's changing and you're able to be more clever about | :19:19. | :19:25. | |
how you do it. A long time ago, minerals occurred on the surface. | :19:26. | :19:32. | |
These days, all major, there is few new discoveries of minerals because | :19:33. | :19:35. | |
they are concealed by soil cover. You need to narrow the search using | :19:36. | :19:41. | |
technology and if you try to find a worm under the field by sticking a | :19:42. | :19:47. | |
knitting needle in the soil hoping it could come up covered in blood, | :19:48. | :19:55. | |
you could wait a lifetime. We use imagery to look for geological | :19:56. | :20:01. | |
structures and when we fin those we do surveys, the geophysical means | :20:02. | :20:05. | |
can narrow the search down so by the time you come to do the expensive | :20:06. | :20:08. | |
groundwork, you already know what you're looking for. So you've got, | :20:09. | :20:13. | |
you know it's there, you've got the investment, you're a private company | :20:14. | :20:15. | |
getting on with this, but you have to work with the Government, don't | :20:16. | :20:22. | |
you? And you're going to create a village, becauser' going to hire | :20:23. | :20:26. | |
1,000 people from the region, some of whom have never had That's | :20:27. | :20:38. | |
On tomorrow's programme, Arnaud Vaissie will be here. | :20:39. | :21:26. | |
He's the co-founder, chairman and Chief Executive | :21:27. | :21:28. | |
of International SOS, the world's largest medical | :21:29. | :21:31. | |
It provides medical and security services to staff working overseas | :21:32. | :21:36. | |
He'll give us his take on the changing political | :21:37. | :21:40. | |
and security landscape around the world. | :21:41. | :21:41. | |
The travel group TUI says Turkish bookings have slump by 40% | :21:42. | :21:44. | |
for this summer after the terror attacks in Turkey, | :21:45. | :21:46. | |
Travellers are instead switching to less risky destinations | :21:47. | :21:57. | |
Tui normally reports a loss in the winter months and makes most | :21:58. | :22:01. | |
of its money in the summer, but in the last three months of last | :22:02. | :22:04. | |
year it actually saw growth, as travel expert | :22:05. | :22:06. | |
Egypt, and you could say the same about Turkey, a number of these | :22:07. | :22:11. | |
destinations that have really come to prominence, a lot of investment | :22:12. | :22:17. | |
into good quality hotel stock. So, they are a cheap destination for | :22:18. | :22:24. | |
winter sun and a company like Tui need those destinations. For those | :22:25. | :22:31. | |
destinations to be shutdown like Tunisia and Egypt or to suffer a | :22:32. | :22:34. | |
drop of the kind of scale that we have seen in Turkey, 40% down, | :22:35. | :22:36. | |
that's a huge drop. Let's take a quick look | :22:37. | :22:46. | |
at the stories making business The Wall Street Journal looks | :22:47. | :22:51. | |
at tech firms like Apple, Alphabet current push on technology | :22:52. | :22:55. | |
that turns phones into digital keys. The National reports | :22:56. | :22:59. | |
on the latest government shake up by Sheikh Mohammed bin Rashid, | :23:00. | :23:04. | |
the ruler of Dubai, to prepare UAE It includes a Minister for | :23:05. | :23:07. | |
Happiness. The Guardian quotes the UK's | :23:08. | :23:13. | |
Transport secretary saying new runway will be built | :23:14. | :23:15. | |
at Heathrow or Gatwick by 2030. The Telegraph reports | :23:16. | :23:18. | |
Goldman Sachs' latest assessment of the UK economy saying the country | :23:19. | :23:20. | |
is unlikely to face a recession Jeremy is here. A Ministry of | :23:21. | :23:41. | |
Happiness? A fun place to work. Bean bags and sweets for everyone. It | :23:42. | :23:48. | |
sounds Harry Potter. The Ministry of Happiness and minister of happiness. | :23:49. | :23:56. | |
They have pioneered something talked gross national happiness as a way of | :23:57. | :24:01. | |
seeing how the economy was looking and maybe this is a Harkining back | :24:02. | :24:06. | |
to a more sentiment driven economy. We were asking you for your comments | :24:07. | :24:15. | |
and you were suggesting a Minister for Speech. I was thinking about | :24:16. | :24:19. | |
that, but I wasn't going to say it out loud. Now we have been outed. | :24:20. | :24:27. | |
Wall Street Journal, tech world pushed towards a future without | :24:28. | :24:32. | |
passwords. This would be fantastic. It drives me around the twist. We | :24:33. | :24:37. | |
have to change ours every three months. It has to be lower case and | :24:38. | :24:43. | |
a number. It is all the retailers, you maybe using, and all the clubs | :24:44. | :24:46. | |
your kids are in and all the different things. It goes on and on. | :24:47. | :24:51. | |
It happens as a kind of waterfall when you change devices, if you get | :24:52. | :24:55. | |
a new phone, you get a new iPad and you have got to look into your | :24:56. | :25:00. | |
Twitter, your Facebook, your John Lewis account, your Sainsbury's | :25:01. | :25:06. | |
account. How will it work? Some phones, the newest iPhone, my new | :25:07. | :25:09. | |
Sony, it is about the fingerprint. Does it work though? It does. Mine | :25:10. | :25:16. | |
doesn't work. I have got a smart device that's supposed to recognise | :25:17. | :25:21. | |
by thumb and it doesn't. What's wrong with your thumb? I do too much | :25:22. | :25:27. | |
washing up, I think! A new runway, where will it be? It will be built | :25:28. | :25:32. | |
by 2030, but that's so late. We are falling behind in the ranking of | :25:33. | :25:37. | |
super powers. There was an interesting article over the weekend | :25:38. | :25:41. | |
about how Istanbul is likely to become the new Dubai as far as a | :25:42. | :25:45. | |
hub. We know how many flights now go through Dubai if they are going into | :25:46. | :25:49. | |
Asia. The UK continues to sit there and not build then we're not going | :25:50. | :25:53. | |
to be challenging that any time soon. Injury ram yu, thank you for | :25:54. | :25:56. | |
being on the show. Good to have you with us. That's it from us. We will | :25:57. | :25:58. | |
see you soon. Bye-bye. Hello there. Good morning. In those | :25:59. | :26:19. | |
areas are that clearing up after Storm Imogen yesterday, today should | :26:20. | :26:20. |