Browse content similar to 25/04/2016. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
This is Business Live from the BBC with Ben Thompson and Sally Bundock. | :00:00. | :00:08. | |
The clock is ticking, but can the massive transatlantic | :00:09. | :00:10. | |
trade deal be saved before the end of the year? | :00:11. | :00:14. | |
Live from London, that's our top story, today - Monday 25th April. | :00:15. | :00:35. | |
Despite fierce protests on both sides of the Atlantic, | :00:36. | :00:37. | |
talks resume on the controversial Transatlantic Trade | :00:38. | :00:39. | |
and Investment Partnership - but is there even a future | :00:40. | :00:41. | |
for the trade deal once Obama leaves office in November? | :00:42. | :00:45. | |
Also in the programme - on the brink of collapse - | :00:46. | :00:55. | |
high street giant BHS is to enter administration, | :00:56. | :00:57. | |
We'll be live at its flagship store in London. | :00:58. | :01:00. | |
And a new week, but the same old problems. | :01:01. | :01:03. | |
We'll have all you need to know for the trading week ahead. | :01:04. | :01:08. | |
We throw away over a billion tonnes of food every year - | :01:09. | :01:11. | |
so we'll meet the man who says he can encourage us to waste less - | :01:12. | :01:15. | |
And, as a new report warns that 2016 could be the year of the shareholder | :01:16. | :01:20. | |
revolt over top boardroom pay, we want to know - | :01:21. | :01:22. | |
Has the gap between those at the top and the rest of us, got too big? | :01:23. | :01:29. | |
Hello, a warm welcome to the programme. | :01:30. | :01:50. | |
Today we are focused on the Transatlantic Trade | :01:51. | :01:52. | |
and Investment Partnership - or TTIP. | :01:53. | :01:54. | |
The 13th round of talks get under way today in New York | :01:55. | :01:57. | |
and President Obama is racing against the clock to complete | :01:58. | :01:59. | |
Whilst meeting Angela Merkel in Germany on Sunday, | :02:00. | :02:05. | |
he called on all European leaders to support the deal and not "let | :02:06. | :02:08. | |
Diplomats from both the US and the EU will meet later | :02:09. | :02:12. | |
to discuss the deal which has already been three years | :02:13. | :02:14. | |
TTIP aims to slash almost all tariffs on trade between the US | :02:15. | :02:23. | |
and the EU and reduce regulation to make business cheaper and easier. | :02:24. | :02:26. | |
One study estimated that the potential gain for the EU | :02:27. | :02:28. | |
and US economies could top $240 billion dollars. | :02:29. | :02:34. | |
However, the deal has faced fierce criticism. | :02:35. | :02:37. | |
This includes claims that harmonising regulation | :02:38. | :02:38. | |
between the EU and US will lead to lower standards of consumer | :02:39. | :02:41. | |
and environmental protection and safety at work. | :02:42. | :02:46. | |
There is also widespread opposition to rules | :02:47. | :02:51. | |
for investor-state dispute settlement. | :02:52. | :02:52. | |
This would allow companies to sue foreign governments over claims | :02:53. | :02:54. | |
Critics say it will undermine the power of governments to act | :02:55. | :02:58. | |
Stephanie Hare, an independent political risk analyst | :02:59. | :03:01. | |
Thank you for coming in. We saw images of thousands of people on the | :03:02. | :03:12. | |
streets of Hanover in Germany yesterday where President Obama was. | :03:13. | :03:15. | |
What is the likelihood of him achieving his goal before he leaves | :03:16. | :03:22. | |
office? He could maybe get the negotiations sorted but there is | :03:23. | :03:26. | |
zero chance of congressional approval while he is president. That | :03:27. | :03:33. | |
does not mean it can be approved. What are the key hurdles still? They | :03:34. | :03:39. | |
have got to talk about all sorts of things. We're looking at data | :03:40. | :03:45. | |
protection still, standards for the environment, health, public | :03:46. | :03:48. | |
procurement is a big thing, trying to make it so that European | :03:49. | :03:52. | |
countries can have access to public procurement tenders in the US and | :03:53. | :03:56. | |
vice versa, those will be some of the big hurdles still and there is a | :03:57. | :04:04. | |
to do. I think it is very ambitious to have it done by November, and | :04:05. | :04:06. | |
remember we have an election going on in the United States. The voices | :04:07. | :04:12. | |
of the critics on both sides of the Atlantic are getting louder and a | :04:13. | :04:15. | |
lot of criticism that most of this has been done in secret. Is that | :04:16. | :04:22. | |
fair or not? I find that criticism to be the oddest because the | :04:23. | :04:26. | |
negotiations are, by their very nature, done in secret. The | :04:27. | :04:30. | |
democratic process will happen afterwards. Congress could still | :04:31. | :04:35. | |
approve. All of the Parliaments will have to ratify this deal. If people | :04:36. | :04:38. | |
are unhappy with the deal once it is finalised, they will still have a | :04:39. | :04:47. | |
chance to express their will by meeting MPs. Here in Europe, it is | :04:48. | :04:52. | |
such a long road ahead, the European Union has to see it through and not | :04:53. | :04:56. | |
to mention national governments, and we could be in a situation where the | :04:57. | :05:02. | |
UK is not involved at all? That is right, we have a potential Brexit on | :05:03. | :05:06. | |
June 23 which would not stop this deal, it would just mean that the UK | :05:07. | :05:12. | |
was not part of it. President Obama said if the UK chose to leave the EU | :05:13. | :05:21. | |
it would go to the back of the queue when it comes to neb go shading a | :05:22. | :05:26. | |
deal. They're also presidential elections in France and Germany in | :05:27. | :05:29. | |
2017. These trading geisha nations take a long time. -- these trade | :05:30. | :05:37. | |
negotiations take a long time. The real question is, is it a good deal? | :05:38. | :05:43. | |
We cannot answer that right now. Thank you for coming in. | :05:44. | :05:48. | |
Let's bring you date with some other news. -- up-to-date. | :05:49. | :05:53. | |
In other news, figures produced by the Sunday Times suggest | :05:54. | :05:55. | |
the Indian Mittal family has seen its wealth shrink | :05:56. | :05:58. | |
by nearly $30 billion over the past eight years. | :05:59. | :06:00. | |
It's thought the change reflects the heavy losses seen in the steel | :06:01. | :06:03. | |
industry since they own Europe's biggest steel-maker, Arcelor Mittal. | :06:04. | :06:05. | |
The Indian government has revoked the passport of the flamboyant | :06:06. | :06:07. | |
businessman and lawmaker, Vijay Mallya. | :06:08. | :06:08. | |
He fled abroad last month following pressure from Indian banks | :06:09. | :06:11. | |
to repay $1.3 billion in debts owed by his failed company, | :06:12. | :06:13. | |
Some reports have traced him to the UK. | :06:14. | :06:16. | |
India is now seeking legal advice on whether he can be extradited | :06:17. | :06:19. | |
to face charges of money laundering and financial irregularities. | :06:20. | :06:27. | |
In the UK, High Street retailer BHS is to enter administration today, | :06:28. | :06:30. | |
The struggling retailer was sold by the retail entrepreneur | :06:31. | :06:35. | |
Sir Philip Green last year, for just ?1. | :06:36. | :06:38. | |
He had bought the chain for ?200 million in 2000. | :06:39. | :06:43. | |
Our correspondent Catriona Renton is outside the chain's flagship | :06:44. | :06:45. | |
We are expecting details later today about the feature of stores like the | :06:46. | :06:59. | |
one behind you. I know also about the 11,000 jobs. What are you | :07:00. | :07:06. | |
hearing now? As you say, this is the flagship store. BHS was once a | :07:07. | :07:10. | |
household name, one of the biggest names on the UK high street, and | :07:11. | :07:15. | |
this morning we have learned that it will go into administration later | :07:16. | :07:20. | |
today. An appointment has already been made with the administrators. | :07:21. | :07:25. | |
Once they get into the office, effectively, they will be able to | :07:26. | :07:29. | |
start the process. We have been talking to members of staff on their | :07:30. | :07:33. | |
way into work this morning. Many of them were far too upset to speak to | :07:34. | :07:39. | |
us, because all they knew was what they had seen and heard in the | :07:40. | :07:43. | |
media. Over the weekend, there had been two sets of talks, one with a | :07:44. | :07:51. | |
private investor looking at a possible financial deal, another | :07:52. | :07:54. | |
with sports direct will stop clearly those talks have failed. We are | :07:55. | :08:01. | |
looking at the business going into administration. If the administrator | :08:02. | :08:06. | |
cannot find a buyer, that would spell the end of an 88 year history | :08:07. | :08:12. | |
of British home stores, and that would be the biggest collapse since | :08:13. | :08:21. | |
Woolworths in 2008, which had a loss of 30,000 jobs. For now, thank you. | :08:22. | :08:25. | |
She and the rest of our business team will be keeping us up to date | :08:26. | :08:33. | |
on that story as it progresses. There is more detail on our website. | :08:34. | :08:36. | |
Shares in Mitsubishi Motors continue to fall - | :08:37. | :08:38. | |
after the revelations it falsified fuel economy data on its vehicles. | :08:39. | :08:41. | |
Tim McDonald is in our Asia Business Hub following this for us. | :08:42. | :08:47. | |
Tell us more. I understand they are coming out with their results on | :08:48. | :08:55. | |
Wednesday? That is right. Shares today in Mitsubishi motors continue | :08:56. | :09:00. | |
ground by the end of the session. ground by the end of the session. | :09:01. | :09:05. | |
This comes on the back of a bad few days for Mitsubishi. The stock | :09:06. | :09:11. | |
plummeted by 40%, its worst decline since it first listed in 1988. The | :09:12. | :09:17. | |
company admitted it cheated on its fuel efficiency tests. The company | :09:18. | :09:22. | |
has since stopped sales and production of those models. It | :09:23. | :09:25. | |
remains to be seen what the long-term effect of the scandal will | :09:26. | :09:30. | |
be but it appears that the company is very concerned. Mitsubishi will | :09:31. | :09:34. | |
announce results on Wednesday. There are media reports it may skip its | :09:35. | :09:38. | |
earnings forecast which is usually on the same day and was scheduled | :09:39. | :09:42. | |
for Wednesday. That is something we will watch closely. Thank you, Tim. | :09:43. | :09:52. | |
Investors are probably trying to lock in some games after the highs | :09:53. | :10:01. | |
we saw on Friday. Japan's Central bank is considering more stimulus. | :10:02. | :10:06. | |
So - a new week - but the same old problems. | :10:07. | :10:08. | |
Last week was largely positive for European markets | :10:09. | :10:11. | |
It was also another really strong week for oil prices, | :10:12. | :10:16. | |
That implies that investors are betting that the problems | :10:17. | :10:21. | |
We'll discuss that more in a moment, but what about Wall Street? | :10:22. | :10:27. | |
Michelle Fleury has the details from New York. | :10:28. | :10:33. | |
The week gets off to a quiet start. A report on new sales for March is | :10:34. | :10:41. | |
due out on Monday. It should give a sense of the strength of the | :10:42. | :10:46. | |
upcoming spring selling season. For Wall Street, the big event this week | :10:47. | :10:52. | |
is a meeting of federal policymakers. Investors expect | :10:53. | :10:56. | |
interest rates to be kept on hold. We are also in the middle of the | :10:57. | :10:59. | |
first quarter earnings season and it is fair to say there is not much | :11:00. | :11:03. | |
optimism surrounding Halliburton which reports this Monday. Given | :11:04. | :11:13. | |
plummeting oil prices, results for oil companies has been challenging. | :11:14. | :11:19. | |
A number of new technology companies will publish results including | :11:20. | :11:23. | |
Apple, Twitter and Amazon. Lots going on. That was Michelle in the | :11:24. | :11:29. | |
US for us. Stick with us as our cameras decide to whizz around the | :11:30. | :11:33. | |
studio, sometimes they do their own thing! | :11:34. | :11:36. | |
Joining us is Lawrence Gosling, editor-in-chief of Investment Week. | :11:37. | :11:40. | |
BHS? Gets, exactly. In a sense, it is not as a surprise it has | :11:41. | :11:48. | |
happened. We had the discussion a few weeks ago when they were | :11:49. | :11:52. | |
negotiating with the landlord. It is a business which has been teetering | :11:53. | :11:59. | |
on the edge for some time. It is always a surprise when it comes. | :12:00. | :12:06. | |
Retailers are downright Next? There is absolutely no Harold L between | :12:07. | :12:09. | |
the wake Next trades and the way BHS has been trading -- no parallel. | :12:10. | :12:16. | |
These stores are the main stays of the high street for so long and we | :12:17. | :12:21. | |
talked about Woolworths, the way we shop has changed and what we are | :12:22. | :12:26. | |
looking for is about more nimble faster fashion which BHS has not | :12:27. | :12:30. | |
been able to do? And very focused shots. You want to go somewhere | :12:31. | :12:34. | |
knowing exactly what you are after. You go to BHS and you can get | :12:35. | :12:39. | |
everything from children's pyjamas and lampshades. You do not expect | :12:40. | :12:43. | |
that these days in shops like our parents might have done. It is the | :12:44. | :12:52. | |
unfocused nature of these stores. I got a knit your own staff kit from | :12:53. | :12:58. | |
BHS for Christmas. Swiftly moving on, the rest of the market malaise, | :12:59. | :13:05. | |
or oil prices headed down again stopped and the share markets. I | :13:06. | :13:10. | |
think we have seen traders take a few profits on oil. The currencies | :13:11. | :13:15. | |
are always the talking point now, particularly we have had a balm in | :13:16. | :13:20. | |
London last week. This will carry on until the Brexit debate on the 23rd | :13:21. | :13:25. | |
of June for us here in London. The currency is where the story is at | :13:26. | :13:32. | |
the moment. -- we had Obama in London last week. | :13:33. | :13:35. | |
Tackling soaring levels of food waste. | :13:36. | :13:38. | |
We'll examine what's been done to tackle the trillion dollar | :13:39. | :13:40. | |
problem and meet the man behind one company that says it has | :13:41. | :13:43. | |
the answer and there's money to be made in doing it. | :13:44. | :13:46. | |
You're with Business Live from BBC News. | :13:47. | :13:51. | |
The government is to force all companies that make cold calls | :13:52. | :13:54. | |
to reveal their phone numbers when they make contact | :13:55. | :13:56. | |
The new rule is part of a crackdown on unwanted calls - | :13:57. | :14:00. | |
but campaigners say the changes don't go far enough. | :14:01. | :14:03. | |
Christopher Graham is the UK Information Commissioner. | :14:04. | :14:05. | |
Good morning to you. Just talk us through what the changes are. This | :14:06. | :14:25. | |
is a very welcome change. It is a small step but it is significant. It | :14:26. | :14:29. | |
means when a call comes through, instead of saying number withheld, | :14:30. | :14:32. | |
it will give the number. That will give you a chance about whether you | :14:33. | :14:37. | |
want to answer the call. You have the information and you can retrieve | :14:38. | :14:41. | |
the information and report to the Information Commissioner's website. | :14:42. | :14:50. | |
It helps us in our job of investigating and stopping these | :14:51. | :14:55. | |
unwanted calls. Do you think it will stop them which, if we are all | :14:56. | :14:59. | |
honest, they drive us round the twist? We are making progress bit by | :15:00. | :15:05. | |
bit. Last year, we persuaded the government to change the rules to | :15:06. | :15:10. | |
make it easier to impose fines. We are imposing our 90th find dealing | :15:11. | :15:16. | |
with this problem. We will have fined over ?2 million. It is making | :15:17. | :15:23. | |
the direct marketers think again. Respectable direct marketers are | :15:24. | :15:27. | |
sticking to the rules. The chances are finding it is becoming | :15:28. | :15:31. | |
increasingly difficult. I think the directors of these companies should | :15:32. | :15:35. | |
be made personally liable so they cannot just close down the operation | :15:36. | :15:38. | |
and start again the next day when they are hit with a fine. There are | :15:39. | :15:46. | |
still a lot to be done but this is a little step forward. | :15:47. | :15:50. | |
What's the geographical implication of this? We have a network of data | :15:51. | :15:59. | |
protection companies around Europe and the world, so where we have | :16:00. | :16:04. | |
operators in Russia, or whatever, we can talk to operators to get them | :16:05. | :16:08. | |
closed down. It's a never ending issue, but we are on the case and | :16:09. | :16:15. | |
making progress. Christopher Graham from UK information Commissioner, | :16:16. | :16:18. | |
thank you for your time. Interesting development in the UK. It could | :16:19. | :16:22. | |
certainly make a big difference. Talks continue over the | :16:23. | :16:36. | |
transatlantic trade partnership, whether they will get the go-ahead | :16:37. | :16:44. | |
and get the deal done between the EU and the United States before the end | :16:45. | :16:46. | |
of President Obama's time in office. "One man's trash is | :16:47. | :16:55. | |
another man's treasure" - Well, our next guest is taking | :16:56. | :16:57. | |
that quite literally. Roughly one third of the food | :16:58. | :17:00. | |
produced for humans every year That's 1.3 billion tonnes of food | :17:01. | :17:03. | |
that ends up in the bin at a cost of around a trillion | :17:04. | :17:09. | |
dollars each year. So tackling that problem is proving | :17:10. | :17:12. | |
to be a lucrative business. One of them - Winnow - wants to cut | :17:13. | :17:16. | |
down on the amount of food waste They do that by installing | :17:17. | :17:20. | |
electronic scales into kitchens and the software processes a report | :17:21. | :17:24. | |
highlighting areas where food Customers pay an annual subscription | :17:25. | :17:27. | |
fee for the service. And the company claims | :17:28. | :17:32. | |
that the technology can help improve Marc Zornes is the founder | :17:33. | :17:34. | |
of the company and he joins us now. Good morning. Let's pick up on the | :17:35. | :17:50. | |
6% figure. It's very specific. How did you come up with it, and it's a | :17:51. | :17:56. | |
big difference for business. It's a bold claim. Absolutely. We believe | :17:57. | :18:05. | |
that food shouldn't be wasted and technology can fundamentally change | :18:06. | :18:09. | |
the way we work with food. We work with businesses like Compass Group | :18:10. | :18:12. | |
and core hotels, large businesses who produce food in advance, and we | :18:13. | :18:15. | |
put into is to monitor and reduce the waste. We find anywhere between | :18:16. | :18:21. | |
ten and 20% of food going into the kitchen is often thrown away. If you | :18:22. | :18:25. | |
monitor that and equip chefs with the right data we can cut back on | :18:26. | :18:29. | |
that. Where would the scales go, what do they way and what report | :18:30. | :18:36. | |
does it produce? They go to the same place the food is thrown away, and | :18:37. | :18:39. | |
as it is thrown away, there is a change in the weight that makes the | :18:40. | :18:45. | |
scales wake up, so if they throw away aches, it can block that. It | :18:46. | :18:53. | |
goes back to staff, so it shows what they are throwing away. It raises | :18:54. | :18:57. | |
the awareness of the waste in kitchens. The chefs can then | :18:58. | :19:00. | |
identify where they need to make improvements in production. Are the | :19:01. | :19:07. | |
staff quite surprised by results? We often find kitchens underestimate | :19:08. | :19:11. | |
how much food is being wasted. When we put in place the tools to monitor | :19:12. | :19:15. | |
it and equip the chefs with the data, we can cut food waste by half | :19:16. | :19:21. | |
or more in just a few months. I understand nobody else is really | :19:22. | :19:25. | |
doing this. You started the company around two and a half years ago in | :19:26. | :19:29. | |
the UK and are now operating in five other countries, notably China and | :19:30. | :19:35. | |
Singapore. What gave you the idea? I used to work for McKenzie and | :19:36. | :19:39. | |
company where I was leading research on resource productivity and found | :19:40. | :19:43. | |
the enormity of the problem of food waste, $1 trillion of food waste, | :19:44. | :19:49. | |
that's more than 1% of global GDP. We can't have that in today's's | :19:50. | :19:54. | |
economic climate. We focused on the is that our tea industry where if we | :19:55. | :19:57. | |
save the clients food waste they save money. We talked about one | :19:58. | :20:02. | |
man's trash being another man's treasure. We have seen this happened | :20:03. | :20:10. | |
in recycling. A real gold rush for the firms that get in first and get | :20:11. | :20:15. | |
their systems in place, they could cash in. Is this the next gold rush | :20:16. | :20:21. | |
as far as waste and rubbish is concerned? We absolutely think so. | :20:22. | :20:24. | |
One company that has taken a big step forward is core hotels, the | :20:25. | :20:28. | |
largest hotel chain in Europe who have made a commitment to reduce | :20:29. | :20:33. | |
food waste by a third by 2020. We have challenged other companies to | :20:34. | :20:38. | |
make those reductions. Fascinating conversation. Thank you for coming | :20:39. | :20:39. | |
in today. Let's see what other | :20:40. | :20:44. | |
stories are being talked When will driverless cars | :20:45. | :20:46. | |
finally hit our streets? Well, the race is on between | :20:47. | :20:49. | |
developers to come up with a mass market, affordable | :20:50. | :20:51. | |
and reliable autonomous vehicle. And they could be on our roads | :20:52. | :20:53. | |
sooner than you think. The boss of Ford has told the BBC | :20:54. | :20:57. | |
he expects to see them Our Economics Editor Kamal Ahmed | :20:58. | :21:00. | |
spoke to Mark Fields and asked him where the the biggest threat | :21:01. | :21:10. | |
to his company would come from - traditional rivals, or newer | :21:11. | :21:13. | |
competitors like Google. There's a lot of traditional | :21:14. | :21:17. | |
competitors we have in our business, There's a lot of new nontraditional | :21:18. | :21:20. | |
competitors who are looking at the automotive space and that | :21:21. | :21:26. | |
addressable market, and saying, So from our standpoint | :21:27. | :21:28. | |
we are looking at a number of the technological changes | :21:29. | :21:34. | |
in the industries and we are viewing that is an opportunity, | :21:35. | :21:37. | |
not as a threat. There will be some things we do | :21:38. | :21:40. | |
on our own to be able to satisfy those customer needs | :21:41. | :21:44. | |
that technology enables. And other times we will | :21:45. | :21:47. | |
partner with others. That's the reason we set up a big | :21:48. | :21:50. | |
research and innovation centre in Palo Alto, | :21:51. | :21:53. | |
because we want to collaborate with and participate | :21:54. | :21:55. | |
in that environment. Do you think Apple want to build | :21:56. | :21:59. | |
their own car? I read what everyone | :22:00. | :22:01. | |
else reads in the paper. Our working assumption | :22:02. | :22:05. | |
is that they are, and that again provides us the right motivation | :22:06. | :22:09. | |
to make sure we stay very focused, not only on the product, | :22:10. | :22:12. | |
but overall on the experienced not only on the product, | :22:13. | :22:19. | |
but overall on the experience the customer has interacting | :22:20. | :22:21. | |
with the product and services Could you imagine building | :22:22. | :22:23. | |
a car with Google? Contract manufacturing is not | :22:24. | :22:26. | |
something that appeals Other aspects, as we work | :22:27. | :22:28. | |
with others, who knows? But that aspect of being a contract | :22:29. | :22:34. | |
manufacturer is not something that Does that appeal to you? A | :22:35. | :22:49. | |
driverless car? It's that whole debate about their always being in | :22:50. | :22:53. | |
element of risk driving a car. What if you are late and want to go a | :22:54. | :22:57. | |
different way? I contact with another driver is so important, | :22:58. | :23:02. | |
because you can assess whether they will let you pull out. You can't do | :23:03. | :23:06. | |
that with driverless cars. You are already stressed about it! Lawrence | :23:07. | :23:13. | |
is back with us to talk us through the papers now. Normally we would | :23:14. | :23:18. | |
look at the tablet but we have not charged the battery. It's not | :23:19. | :23:23. | |
working, and it's not my fault today! We can talk about the | :23:24. | :23:29. | |
stories. We will start with the story on the pay ratio between | :23:30. | :23:33. | |
bosses and employees. It will be the hot topic of the year. We saw it | :23:34. | :23:37. | |
kicked off in a big way with the BP AGM. It's fascinating. We are in | :23:38. | :23:44. | |
this period where big insurance companies and pension funds in the | :23:45. | :23:47. | |
UK are beginning to protest against the level of executive pay. We had | :23:48. | :23:53. | |
BP last week. We are expecting to see Shires, the pharmaceutical | :23:54. | :23:59. | |
company, this week. This story from the Guardian is talking about the | :24:00. | :24:02. | |
suggestion from legal and general that there should be a direct link | :24:03. | :24:06. | |
between the pay of the average worker, which in the UK is ?27,500, | :24:07. | :24:11. | |
and the Chief Executive 's various companies. We have talked about | :24:12. | :24:17. | |
shareholder activism before, and Barclays was subject to it before | :24:18. | :24:22. | |
last year. We talked about the power shareholders could wield, but in the | :24:23. | :24:26. | |
past when it has got to the crunch moment, they have not followed | :24:27. | :24:29. | |
through. Is it any different this year? I think your cynicism is | :24:30. | :24:38. | |
correct. Even legal and general talk about inverting in 93 cases. But | :24:39. | :24:45. | |
even when you do vote, as we saw with the BP case, it can be | :24:46. | :24:50. | |
overturned, even when the vote went one way. It remains to be seen. A | :24:51. | :24:58. | |
lot of the executives of big Footsie companies are very well paid. One | :24:59. | :25:05. | |
viewer says executives are paid too much, but they also decide their own | :25:06. | :25:08. | |
wages. It's like wardens having the keys to the prison. It's not | :25:09. | :25:14. | |
strictly true. There are remuneration facilities. Tackling | :25:15. | :25:21. | |
climate change is a good news for the economy. Mark Carney talked | :25:22. | :25:24. | |
about this last week, and he talked about the stimulus it could give to | :25:25. | :25:28. | |
the global economy by increasing productivity. We heard about the | :25:29. | :25:35. | |
effects of pollution. The governor of the Bank of England. We always | :25:36. | :25:38. | |
think of Beijing when we see images like that. They have seen people | :25:39. | :25:44. | |
choosing to leave or not post their international staff there because of | :25:45. | :25:49. | |
the problem. It is one of the major cities in China, and it's having a | :25:50. | :25:53. | |
huge effect on the population and the health in China and other | :25:54. | :25:59. | |
countries. Thank you, Lawrence. We will rely on the trusty papers from | :26:00. | :26:01. | |
now on. | :26:02. | :26:02. |