Browse content similar to 08/03/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Sally Bundock and Victoria | :00:11. | :00:13. | |
Two years on from the disappearance of flight MH370, has safety | :00:14. | :00:21. | |
We look at the facts as key players in the industry warn important | :00:22. | :00:25. | |
changes are not being made fast enough. | :00:26. | :00:27. | |
Live from London, that's our focus today - | :00:28. | :00:29. | |
Two years on since flight MH370 disappeared, | :00:30. | :00:45. | |
new global standards are announced for flight safety. | :00:46. | :00:49. | |
But it will take years before they come into force. | :00:50. | :00:55. | |
We ask, has enough been done to improve flight safety? | :00:56. | :01:03. | |
Also in the programme: The energy firm Npower says it's cutting almost | :01:04. | :01:17. | |
2400 jobs in the UK as it announces a loss of more than $150-million | :01:18. | :01:20. | |
And we've got the latest from the markets - | :01:21. | :01:23. | |
where China trade tumbles, the mood sours on stock markets | :01:24. | :01:26. | |
and traders wonder is the slowdown deepening? | :01:27. | :01:27. | |
And on International Woman's Day the head of the International | :01:28. | :01:30. | |
Monetary Fund Christine Lagarde speaks exclusively to | :01:31. | :01:32. | |
the BBC about lots of things | :01:33. | :01:34. | |
including her view on the UK's future in Europe. | :01:35. | :01:39. | |
Plus bonuses on Wall Street have fallen 27% in the last 10 | :01:40. | :01:48. | |
years - the average bonus is now around $146,000. | :01:49. | :01:54. | |
Today we want to know, is this too high? | :01:55. | :01:58. | |
Do you feel for the bankers whose bonuses are declining? | :01:59. | :02:04. | |
Don't hold back, you know how to get in touch - | :02:05. | :02:06. | |
It's been two years since Malaysia Airlines flight | :02:07. | :02:13. | |
And, despite a $130 million search operation, | :02:14. | :02:23. | |
the aircraft has still not been found. | :02:24. | :02:24. | |
Many questions were raised at the time about flight safety - | :02:25. | :02:27. | |
The UN's aviation agency has adopted rules that aircrafts | :02:28. | :02:30. | |
in distress need to report their location every minute. | :02:31. | :02:32. | |
The idea is that it makes missing planes easier to find. | :02:33. | :02:35. | |
Those rules come into effect in 2021. | :02:36. | :02:38. | |
It has also approved plans to extend the life of the location beacons | :02:39. | :02:41. | |
But that, too, will take time - coming into force in 2018. | :02:42. | :02:45. | |
The US says by 2020 all aircraft in its airspace | :02:46. | :02:48. | |
will need to be fitted with a new type of satellite | :02:49. | :02:50. | |
tracking technology, but so far there's been no agreed | :02:51. | :02:52. | |
The head of the NTSB - America's crash investigation agency | :02:53. | :03:14. | |
- says he's concerned about the slow pace of progress, | :03:15. | :03:16. | |
in adopting new technologies - and that it's long overdue. | :03:17. | :03:19. | |
Independent aviation expert David Learmount is with us. | :03:20. | :03:23. | |
Why are these changes taking so long? Much of the demands are | :03:24. | :03:31. | |
extremely technologically demanding, such as making | :03:32. | :03:31. | |
sure that a black box that goes to the bottom of the sea can continue | :03:32. | :03:37. | |
to send its signal, it is much, much easier to say than to do. To keep it | :03:38. | :03:43. | |
in perspective, the airlines are voluntarily adopting a lot of the | :03:44. | :03:45. | |
technology that can be adopted, and they have already done it. | :03:46. | :03:49. | |
But none of the technology will prevent events happening. They are | :03:50. | :03:56. | |
all designed to enable us to find the wreckage, | :03:57. | :03:59. | |
case of MH370, after two years we still have not, and therefore to | :04:00. | :04:07. | |
learn what happened, and possibly if we are tracking the aircraft all the | :04:08. | :04:12. | |
time, if we had been tracking MH370 all the time, we might have been | :04:13. | :04:16. | |
able to save a few lives wherever it went down, and that of course | :04:17. | :04:20. | |
is a possibility. That technology is already here. Sorry to | :04:21. | :04:28. | |
interrupt, Sally. You are saying that even if these improvements come | :04:29. | :04:33. | |
into effect in the next few years, planes are not | :04:34. | :04:34. | |
going to be, in and of themselves, any safer? They will not be safer, | :04:35. | :04:42. | |
because the black-box recorder is easier to find. We will learn more | :04:43. | :04:48. | |
quickly what happened to the aircraft, we will even | :04:49. | :04:50. | |
find the aircraft more quickly. We will be able to improve, if | :04:51. | :04:57. | |
technology was involved in the failure, but increasingly nowadays | :04:58. | :05:00. | |
when aircraft go missing or have an accident it isn't technology. | :05:01. | :05:06. | |
Aircraft and engineering is getting so good now that it is usually human | :05:07. | :05:11. | |
factors, and there is not much you can do about that technology. And | :05:12. | :05:13. | |
where is it that planes are out of Because it is not won a plane is | :05:14. | :05:19. | |
overland, is it, but when they are over the | :05:20. | :05:29. | |
ocean? Mostly if they are overland, there are some wilderness or desert | :05:30. | :05:32. | |
areas where it would not be true that they would be on radar or some | :05:33. | :05:34. | |
other form of surveillance. It is over the host Yannick areas, | :05:35. | :05:40. | |
by and large, that the aircraft cannot be seen. -- the oceanic | :05:41. | :05:47. | |
areas. But technology has been adopted by a lot of airlines for | :05:48. | :05:49. | |
making sure the owners can track the aircraft at all times. Basically | :05:50. | :05:52. | |
they send out a pinger via satellite and the | :05:53. | :05:59. | |
agreement is that every 15 minutes you get an update of that aircraft's | :06:00. | :06:01. | |
position. We appreciate your time, thank you | :06:02. | :06:08. | |
for coming in and talking about that. It is a story that has been | :06:09. | :06:12. | |
covered extensively today on BBC world News Addis is the two-year | :06:13. | :06:18. | |
anniversary. -- as it is the two-year anniversary. | :06:19. | :06:28. | |
Energy firm Npower says it's cutting almost 2500 jobs, | :06:29. | :06:33. | |
more than a fifth of its UK workforce. | :06:34. | :06:35. | |
The German-owned firm made an operating loss of more | :06:36. | :06:39. | |
than $150-million last year and it warned billing issues | :06:40. | :06:41. | |
would lead to more problems this year. | :06:42. | :06:45. | |
The sportswear giant Nike has suspended its ties | :06:46. | :06:48. | |
with the tennis star Maria Sharapova, after she admitted | :06:49. | :06:50. | |
Energy firm Npower says it's cutting almost 2500 jobs, | :06:51. | :06:55. | |
The positive test was for meldonium - a substance she claims she has | :06:56. | :06:58. | |
been taking since 2006 for health issues. | :06:59. | :07:00. | |
Ms Sharapova is the world's highest paid female athlete. | :07:01. | :07:02. | |
And Japan's economy shrank less than previously thought in the last | :07:03. | :07:05. | |
Asia's number two economy contracted at an annualised rate of 1.1%. | :07:06. | :07:11. | |
This is a slight improvement on the previous estimate. | :07:12. | :07:14. | |
Japan has been trying to revive its flagging economy, | :07:15. | :07:16. | |
which has struggled with deflation for nearly 20 years. | :07:17. | :07:22. | |
programme, we will hear from some rising stars in business | :07:23. | :07:29. | |
including Christine Lagarde. This lady on the Business Live page, | :07:30. | :07:36. | |
Martha Lane Fox, who became very well-known in the UK many years ago | :07:37. | :07:39. | |
when she and another individual launched lastminute.com, which many | :07:40. | :07:52. | |
people bought would disappear very quickly when the dot-com bubble | :07:53. | :07:56. | |
burst, but it is still going strong. She is talking about the fact that | :07:57. | :07:58. | |
the percentage of women running or | :07:59. | :08:02. | |
involved in technology companies in the UK is less than the number of | :08:03. | :08:05. | |
women in parliament, which I found astounding | :08:06. | :08:06. | |
They say only about 17% of women work in tech, she says it is even | :08:07. | :08:17. | |
smaller in the venture capital world, 9% of the people she deals | :08:18. | :08:20. | |
with our women overall in that sector. | :08:21. | :08:28. | |
focus on China yet again, bad news from the world's number two economy. | :08:29. | :08:35. | |
Latest economic figures from China show that exports in February | :08:36. | :08:38. | |
plunged to their lowest level in six years. | :08:39. | :08:41. | |
Are they taking their cue from what has happened with trade figures? | :08:42. | :08:54. | |
They have, stocks fell before recovering before the close of trade | :08:55. | :08:58. | |
in China. Today the numbers were grim, exports fell by more than 25% | :08:59. | :09:04. | |
last month, compared that to about 11% in January, imports falling 14%, | :09:05. | :09:08. | |
cooling demand both at home and abroad, so this is reinforcing | :09:09. | :09:14. | |
worries that there is weakness in China's economy. It is worth | :09:15. | :09:17. | |
mentioning that the trade numbers have been affected by the lunar New | :09:18. | :09:23. | |
Year holiday when factory shut down for a week so businesses come to a | :09:24. | :09:27. | |
standstill. But economists say ultimately there is a deep malaise | :09:28. | :09:35. | |
in China's economy and its trading partners are affected so we see a | :09:36. | :09:38. | |
corresponding drop in their numbers as well. The question is what the | :09:39. | :09:43. | |
Chinese government will do to stimulate growth. When the leaders | :09:44. | :09:46. | |
gather in Beijing this week, we will keep a close eye on what their | :09:47. | :09:50. | |
economic plans are going to be. We certainly will, thank you. | :09:51. | :09:53. | |
They're tracking, as is often the case these days, | :09:54. | :09:57. | |
what's going on with the commodities markets. | :09:58. | :09:59. | |
Energy stocks across Asia were lower. | :10:00. | :10:04. | |
At one stage on Monday, Brent crude oil was trading at $41.04. | :10:05. | :10:08. | |
We're seeing oil come back from that point though. | :10:09. | :10:17. | |
Trading across Europe already low, the Footsie dragged down by mining | :10:18. | :10:20. | |
stocks. Michelle Fleury is our | :10:21. | :10:22. | |
correspondent in New York. Here she is, with America's | :10:23. | :10:24. | |
business agenda. Fears about the help of the US | :10:25. | :10:32. | |
economy have been overdone, the American stock market has broadly | :10:33. | :10:35. | |
speaking been in rally mode for the last few weeks and last Friday's | :10:36. | :10:40. | |
jobs report pointed to a growing Labour force. In a relatively light | :10:41. | :10:46. | |
week for economic data, one to watch this Tuesday is the national | :10:47. | :10:50. | |
Federation of Independent business is optimism report, investors pay | :10:51. | :10:53. | |
attention to this to see if small businesses are braving pay, and | :10:54. | :10:57. | |
early sign that wage growth across the economy may soon be coming. If | :10:58. | :11:02. | |
the labour market were overheating it would support the Federal | :11:03. | :11:11. | |
reserve's case for raising rates this year, but economists do not | :11:12. | :11:14. | |
expect America's Central Bank to make any move at its policy meeting | :11:15. | :11:17. | |
next week. On the earnings front, a sporting retailer will be announcing | :11:18. | :11:19. | |
its results, with its fortunes expected | :11:20. | :11:24. | |
to be lifted because of the bankruptcy of a rebel. | :11:25. | :11:27. | |
We are joined by Richard Hunter, independent market analyst. | :11:28. | :11:29. | |
Good taboo here. Do you feel the rated as an | :11:30. | :11:36. | |
independent?! Good to have you here, We could not reveal the numbers in | :11:37. | :11:49. | |
the screens, but it all headed south in Europe. A lot going on, safety is | :11:50. | :11:55. | |
back in passion today, and yet not that long ago I was saying it was | :11:56. | :11:59. | |
out of passion, everybody getting back into shares, the oil price | :12:00. | :12:04. | |
going down, today it is still above $40 a barrel. Yes, and the Dow Jones | :12:05. | :12:10. | |
finished slightly up yesterday, down about 2% on the year-to-date, which | :12:11. | :12:14. | |
compares to mid-February when it was down 10%. We know the European | :12:15. | :12:19. | |
markets have had a rally as well. It is probably too early to decide | :12:20. | :12:23. | |
whether we have turned a corner, a couple of things have changed over | :12:24. | :12:26. | |
the last few days which could be rather more positive. The market is | :12:27. | :12:31. | |
not going to go up in a straight line as we are seeing this morning | :12:32. | :12:35. | |
but on the one hand you have the five-year economic plan from China | :12:36. | :12:39. | |
over the weekend which implied, apart from an annual GDP growth of | :12:40. | :12:46. | |
6.5-7%, it implied a move away from manufacturing into a more consumer | :12:47. | :12:50. | |
the back burner which means the the back burner which means the | :12:51. | :12:54. | |
Chinese are focusing on growth. At the same time, another good set of | :12:55. | :13:00. | |
jobs figures from the state on Friday, 242,000 above expectations, | :13:01. | :13:03. | |
and the likelihood of a June interest rate hike in the States in | :13:04. | :13:08. | |
terms of the spread betters, if you like, has gone up to 50%. One of the | :13:09. | :13:13. | |
worries we have had in the year to date is slowing global growth and in | :13:14. | :13:17. | |
particular recession in the States, but those two latest indicators from | :13:18. | :13:24. | |
the two worlds largest economies are a pretty good mood. There is a lot | :13:25. | :13:28. | |
riding on the US. We will have you back here later to talk about the | :13:29. | :13:33. | |
papers. Still to come, Christine Lagarde | :13:34. | :13:37. | |
speaks exclusively to the BBC, giving her views on lots of | :13:38. | :13:39. | |
different things, including what the UK should do about its future in | :13:40. | :13:44. | |
Europe. This is Business Live from BBC News. | :13:45. | :13:50. | |
Npower, the British unit of German utility RWE, | :13:51. | :13:58. | |
has announced it will cut 2,400 out of 11,500 positions, | :13:59. | :14:00. | |
after it made an operating loss last year. | :14:01. | :14:02. | |
Joe Lynam has been following the story for us. | :14:03. | :14:07. | |
These jobs numbers coming in, they were widely trailed over the | :14:08. | :14:13. | |
weekend, more detail coming through today. How bad is the situation for | :14:14. | :14:17. | |
Europe and the energy prices that we are seeing? | :14:18. | :14:24. | |
Yes, we had the 2400 jobs -- we heard that 2400 jobs would be going, | :14:25. | :14:29. | |
the number touted at the weekend was 2500 so slightly better than we | :14:30. | :14:34. | |
expected. Losses for and power the 20 14th at around ?100 million, huge | :14:35. | :14:45. | |
loss -- losses the Npower in 2014. The last three months have got | :14:46. | :14:48. | |
progressively worse. It is the question of customer service, that | :14:49. | :14:53. | |
is the real issue for Npower. They had a poor reputation for customer | :14:54. | :14:58. | |
service and will find ?26 million by the regulator, Ofgem, in December | :14:59. | :15:02. | |
for treating customers unfairly. They say they have radically changed | :15:03. | :15:03. | |
things around and in their statement this morning | :15:04. | :15:08. | |
they said they would fundamentally change the business so it reflects | :15:09. | :15:12. | |
the needs of shareholders and customers. They put their hand up | :15:13. | :15:16. | |
and say it is going to be a huge task and would take a while, two | :15:17. | :15:20. | |
years with these job cuts to kick in. Let me show you the RW we share | :15:21. | :15:23. | |
price, you can see it has pretty much tracked the fall in oil prices | :15:24. | :15:29. | |
around the world but over the last three months it has stabilised bit | :15:30. | :15:31. | |
as oil you have been discussing, have also | :15:32. | :15:37. | |
stabilised. So Npower putting 2400 jobs, now confirmed. | :15:38. | :15:43. | |
Lots more about that story on the Business Live page, including this | :15:44. | :15:46. | |
story as well, Burberry shares doing well today. | :15:47. | :15:53. | |
Shares rising today on reports that we're going to be talking about in | :15:54. | :15:59. | |
our papers section with Richard about possible bid actually for the | :16:00. | :16:02. | |
company. Someone is building a stake in the firm at the moment. They | :16:03. | :16:06. | |
don't actually know who it is. So the search is on and Richard, our | :16:07. | :16:10. | |
markets guy who, is coming back, he says he has a Burberry tie. | :16:11. | :16:14. | |
Unfortunately he forgot to put it on today. Had he known, he would have | :16:15. | :16:16. | |
put it on! Our top story, two years | :16:17. | :16:22. | |
on from the disappearance Key players in the industry warn | :16:23. | :16:25. | |
important changes are not being made Today is International Women's Day | :16:26. | :16:30. | |
and all day we're going to be bringing you the thoughts of women | :16:31. | :16:44. | |
in business right across the world. She's the chief financial officer | :16:45. | :16:47. | |
of the Indian telecoms giant The company has one of the longest | :16:48. | :16:51. | |
undersea cable networks It stretches more than | :16:52. | :16:54. | |
500,000 kilometres. The company also owns the world's | :16:55. | :17:03. | |
only fibre optic ring Tata Communications has more | :17:04. | :17:05. | |
than 8,000 staff globally The BBC's Jamie Robertson caught up | :17:06. | :17:08. | |
with Pratibha Advani, to find out more about the business | :17:09. | :17:12. | |
and the obstacles facing women trying to rise to the top | :17:13. | :17:15. | |
of business in India. In all fairness I have to confess I | :17:16. | :17:27. | |
haven't found that women hit the glass ceiling. And really not faced | :17:28. | :17:32. | |
any obstacles so when I look back and reflect on my career journey, I | :17:33. | :17:40. | |
have worked with the large Indian conglomerate where the company | :17:41. | :17:45. | |
policies were so good. When I had my kids, I recall for almost a year I | :17:46. | :17:49. | |
was working half days. Haven't you just been lucky, do you think? Not | :17:50. | :17:54. | |
really. If you actually see some of the women in business in India for | :17:55. | :18:02. | |
example, a large private bank in India is headed by a woman. There is | :18:03. | :18:07. | |
another multinational bank in India whose CEO used to be a woman. So you | :18:08. | :18:13. | |
are seeing a lot of women rising up to the top positions in India. But | :18:14. | :18:17. | |
generally, for women, isn't it hard for them to rise up through the | :18:18. | :18:23. | |
ranks in a business in India? I would say from an organisation's | :18:24. | :18:28. | |
standing point, yes women are acceptable across all levels. But | :18:29. | :18:32. | |
what tends to happen, at mid-career level you start to see them dropping | :18:33. | :18:35. | |
out. So at the lower levels, you will see a lot of women. So almost | :18:36. | :18:40. | |
30%, 40% of the workforce would be women. But as they start to climb | :18:41. | :18:46. | |
the careers is when the dropping off starts to happen and I think that's | :18:47. | :18:53. | |
more an account of family pressure, the need to raise children and I | :18:54. | :18:56. | |
guess Indian men will still take some time to be equal partners. But | :18:57. | :19:01. | |
what can you do at the top of an organisation to help the process of | :19:02. | :19:06. | |
gender diversification? I think there is a lot of emphasis being | :19:07. | :19:11. | |
placed on organisations to drive gender diversity. Just leaving it to | :19:12. | :19:16. | |
corporations is not something I believe in. As a matter of fact, we | :19:17. | :19:19. | |
need to move on and become more gender neutral both at home as well | :19:20. | :19:24. | |
as an organisation. So you're putting the onus on society, not on | :19:25. | :19:28. | |
business? Business can't do very much, can it? Actually in India, the | :19:29. | :19:33. | |
biggest enemies for women are women themselves. You will find the | :19:34. | :19:38. | |
mother-in-law was always trying to badger the daughter-in-law. So | :19:39. | :19:43. | |
unless we start to educate women, and once you educate them, they're | :19:44. | :19:49. | |
going to see the need and realise the need for, you know, their | :19:50. | :19:55. | |
daughters and daurls to go out and work -- daughter in laws to go out | :19:56. | :20:00. | |
and create a place for themselves. Pratibha Advani there from Tata | :20:01. | :20:04. | |
Communications. Big players are being brought, | :20:05. | :20:08. | |
whether they like it or not, into the debate over whether Britain | :20:09. | :20:11. | |
should leave the European Union. Later today the Governor | :20:12. | :20:13. | |
of the Bank of England, Mark Carney, will be asked | :20:14. | :20:16. | |
about the Bank's preparations in the event of Britain's | :20:17. | :20:18. | |
departure from the EU. Meanwhile, the Managing Director | :20:19. | :20:20. | |
of the IMF, Christine Lagarde, says both the UK and the EU | :20:21. | :20:22. | |
would suffer if Britain decided The IMF boss told the BBC's Katy Kay | :20:23. | :20:25. | |
that any uncertainty surrounding Well, at the IMF we believe it is | :20:26. | :20:39. | |
critical that this situation be resolved as quickly as possible to | :20:40. | :20:43. | |
eliminate the uncertainty which is all negative for economic | :20:44. | :20:46. | |
circumstances and decision making processes. My intuition tells me | :20:47. | :20:54. | |
that outcome would be better for both the UK and Europe if it was a | :20:55. | :20:58. | |
positive one, in other words, if the UK was to stay, we are currently | :20:59. | :21:02. | |
working... You would prefer to see Britain stay? I would personally, | :21:03. | :21:07. | |
that's a personal preference, I would personally very much prefer to | :21:08. | :21:11. | |
see the UK stay in European Union, but I believe our economic findings | :21:12. | :21:16. | |
will strongly support that view that it would hurt both, the UK and the | :21:17. | :21:21. | |
EU if the UK was to go. We are working on that. We will be | :21:22. | :21:26. | |
delivering the results of our findings later on in the year, in | :21:27. | :21:33. | |
May. Before the referendum? Well, that's when our Article 4, the audit | :21:34. | :21:38. | |
of each large economy will be completed and we will come out | :21:39. | :21:43. | |
publicly in that respect, yes. Christine had a lot more to say to | :21:44. | :21:49. | |
Katy Kay, you can catch that interview full-on our website. | :21:50. | :21:55. | |
As promised, Richard the independent is back. It is a hot topic ta always | :21:56. | :22:01. | |
gets a big response from viewers bankers bonuses. We have had a few | :22:02. | :22:07. | |
tweets in. One viewer says, "The real question is should they be | :22:08. | :22:12. | |
deserved? No profit or still owning Government money. Therefore, no know | :22:13. | :22:19. | |
bus." We have got many more which are negative. Another viewer says, | :22:20. | :22:25. | |
"They are a great incentive to increase productivity. The higher | :22:26. | :22:30. | |
the better." Richard, your thought? The drop is no surprise. We are | :22:31. | :22:34. | |
talking about 2006 which was two years prior to the financial crisis | :22:35. | :22:36. | |
when the world was a different place. In terms of 2016 quite apart | :22:37. | :22:43. | |
fromle volatility that we have had in the intervening years in terms of | :22:44. | :22:48. | |
regulation, and general regulatory red tape, banks had to employ more | :22:49. | :22:53. | |
and more compliance people. That brings the average bonus down. There | :22:54. | :22:58. | |
has been as we have seen in the UK, the requirement to ring-fence the | :22:59. | :23:00. | |
retail and investment banking operations. All of these things, of | :23:01. | :23:06. | |
course, had an impact. This has been discussed in the financial times | :23:07. | :23:11. | |
today. Regulation is taking its toll on bonuses, the average bonus is | :23:12. | :23:24. | |
?146,200. Many argue they are getting the benefits, but it happens | :23:25. | :23:28. | |
through other means? What happens in investment banking is bonuses been | :23:29. | :23:34. | |
calculated as some percentage of the overall profit. Clearly, even the | :23:35. | :23:37. | |
investment banks in this day and age are not making the kind of money | :23:38. | :23:40. | |
they were making before and therefore, the percentages are lower | :23:41. | :23:44. | |
and not surprisingly the bonuses have drifted lower also. | :23:45. | :23:49. | |
On that story, I saw on the Evening Standard there is a big pay | :23:50. | :23:54. | |
disparity between men and women when it comes to bonuses in financial | :23:55. | :23:58. | |
services. However, I will move on. Let's talk about a story that's in | :23:59. | :24:02. | |
the Times and the Financial Times, Burberry is trying to find out the | :24:03. | :24:05. | |
identity of a mystery investor, they have built up a stake of 5% in the | :24:06. | :24:09. | |
group and shares today are rising? Yes, that's right. The potential of | :24:10. | :24:17. | |
any sort of M and A activity is something the market likes. Burberry | :24:18. | :24:21. | |
had a tough time of late. It has a large exposure to China where a lot | :24:22. | :24:25. | |
of the consumers are pulling their belts it. It shouldn't be too | :24:26. | :24:30. | |
difficult for Burberry to find out the identity of this individual or | :24:31. | :24:35. | |
individuals, there is disclosure rules. If your share holding goes up | :24:36. | :24:42. | |
to 3%, they can find out. The picture in the times is of | :24:43. | :24:45. | |
Christopher Bailey who is relatively new of Chief Executive as Burberry, | :24:46. | :24:51. | |
he is there with Cate Blanchett, he took over when the former Chief | :24:52. | :24:55. | |
Executive was head-hunted by Apple. Just to say, as it is international | :24:56. | :24:59. | |
women's day, a couple of years ago, as CEO of Burberry, she was the | :25:00. | :25:04. | |
highest paid CEO in the UK. So she was not only a FTSE 100 chief, the | :25:05. | :25:09. | |
highest paid FTSE 100 chief sthnchts yeah, that's right and Burberry had | :25:10. | :25:13. | |
a very good few years of it. What about since she left? There were a | :25:14. | :25:16. | |
lot of questions... That's been more difficult. Not so much in terms of | :25:17. | :25:20. | |
his particular background which is more on the sort of design side, but | :25:21. | :25:26. | |
also of course, given Burberry's exposure to Asia and China in | :25:27. | :25:29. | |
particular, they have had a slightly rockier ride. The flip side of that, | :25:30. | :25:34. | |
of course, is Japanese and Chinese tourists haven't been coming to | :25:35. | :25:40. | |
Europe so much and that was another big area for Burberry as well. They | :25:41. | :25:49. | |
have had a tricky time. Yeah, that's it from Business Live | :25:50. | :25:51. | |
for today. There will be more business news | :25:52. | :25:53. | |
throughout the day on the BBC Live webpage and on World Business | :25:54. | :25:57. | |
Report. Zblel Hello, the weather is chopping | :25:58. | :26:13. | |
and changing a fair bit through the rest of this week. It has been a | :26:14. | :26:17. | |
cold start, but it should be milder by the end, this morning, we were | :26:18. | :26:22. | |
well below freezing for | :26:23. | :26:23. |