Browse content similar to 31/05/2016. Check below for episodes and series from the same categories and more!
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Hello, this is business news. India is predicted to hold onto its | :00:13. | :00:21. | |
fastest growing economy. Can it but, fastest growing economy. Can it but, | :00:22. | :00:31. | |
the powerhouse for world growth? -- can it become. | :00:32. | :00:43. | |
India's agriculture and service sectors are expected to deliver its | :00:44. | :00:49. | |
strong growth as China slows, is it a beacon of hope for the global | :00:50. | :00:55. | |
economy. Also, Latin America's biggest airline says it will suspend | :00:56. | :01:01. | |
flights to Venezuela because of the deteriorating economic situation. | :01:02. | :01:05. | |
Here is a look at the trading day for the markets. And being paid to | :01:06. | :01:11. | |
share your personal information. We will be hearing from a website that | :01:12. | :01:14. | |
is putting consumers back in control of their data and I love this, what | :01:15. | :01:20. | |
about this fellow here? He is that high when he's home robot for 410 | :01:21. | :01:31. | |
quid. He can help with age care, health care and help control your | :01:32. | :01:36. | |
smartphone, what you think? Would you want one? And if so what would | :01:37. | :01:42. | |
you do in your home? If you do, let us know on Twitter. -- do know. The | :01:43. | :01:57. | |
world's fastest-growing major economy is due to release its | :01:58. | :02:02. | |
figures later. With the agriculture and service sectors expecting to | :02:03. | :02:06. | |
drive continued growth. Economists predict the economy will have | :02:07. | :02:08. | |
grown by 7.5%. There it is in the five months until the end of March. | :02:09. | :02:15. | |
With China slumming, India's success is being seen as a bright spot with | :02:16. | :02:21. | |
the potential to drive growth in the global economy. | :02:22. | :02:24. | |
Singapore's Prime Minister says India is a hope for us all. | :02:25. | :02:27. | |
when China was ten years ago. Not everyone is quite so optimistic. The | :02:28. | :02:36. | |
governor of the reserve bank has been criticised for telling the | :02:37. | :02:39. | |
website market watch that in the land of the Blind, the | :02:40. | :02:51. | |
Onenightinvienna is king. Our correspondent joins us, good to see | :02:52. | :03:01. | |
you. For the uninitiated, in the land of the blind, the one eyed man | :03:02. | :03:08. | |
is king, what is he saying that? If you talk about him as the boss of | :03:09. | :03:12. | |
the central bank, the real message he is sending out is that India is | :03:13. | :03:17. | |
growing, but don't get carried away. Lots of work still to be done, India | :03:18. | :03:22. | |
had slowed down to three years back. India was not growing at the pace it | :03:23. | :03:28. | |
is growing now. You can see the numbers jumping up and stop the | :03:29. | :03:33. | |
economy has picked up a pace. You spoke about agriculture and the | :03:34. | :03:37. | |
private sector, but manufacturing is still a challenge, in the structure | :03:38. | :03:42. | |
is still a challenge, the banking sector is still struggling and for | :03:43. | :03:46. | |
India to retain the size of China, it will have to keep growing | :03:47. | :03:56. | |
consistently. Correct me if I am wrong, but one of the perils that | :03:57. | :04:01. | |
goes along or comes with a nation that becomes the fastest-growing | :04:02. | :04:05. | |
economy in the world, the rest of the world looks at it and says India | :04:06. | :04:09. | |
can to help us with propping up the global economy. The thing is a lot | :04:10. | :04:19. | |
of time the world compares India to China. India's economy is one fifth | :04:20. | :04:26. | |
the size of China's economy, there is no comparison there. India is one | :04:27. | :04:30. | |
of the fastest-growing economies in the world, it has a huge pace, | :04:31. | :04:35. | |
foreign investors look at India as a huge market. The second most | :04:36. | :04:45. | |
populated country in the world, they look at India as a big market. There | :04:46. | :04:51. | |
is huge consumption here. At the same time, there are some | :04:52. | :04:54. | |
bottlenecks as I can use that term, challenges when it comes to | :04:55. | :04:59. | |
different infrastructure, roads, bridges, boats. You need that to | :05:00. | :05:03. | |
come at a rapid pace to make India a global powerhouse for the economy. | :05:04. | :05:09. | |
We appreciate your time, I know you will keep across those numbers as | :05:10. | :05:12. | |
Souness they are out. Joining us live from Mumbai, really neat | :05:13. | :05:17. | |
infrastructure! Latan will be stopping its flights | :05:18. | :05:42. | |
to Latin America. The queues for basic products continue in Venezuela | :05:43. | :05:48. | |
and economic crisis has now caused a foreign company to think about its | :05:49. | :05:51. | |
involvement in the South American nation. Following announcement by | :05:52. | :05:56. | |
the German airline Lufthansa that they will be suspending flights, now | :05:57. | :06:06. | |
Latan is following suit. It will end first within days and the other | :06:07. | :06:09. | |
routes it runs from Lima is an Thiago will be halted by the end of | :06:10. | :06:18. | |
July. The President Polk -- points to an economic war to force his | :06:19. | :06:23. | |
government from power. It comes after both companies have complained | :06:24. | :06:28. | |
that the government's tight currency controls have made it impossible for | :06:29. | :06:33. | |
them to repatriate in hard currency. Instead they have millions of | :06:34. | :06:39. | |
dollars tied up in the rapidly developing Karen scene. Let's check | :06:40. | :06:46. | |
in with some of the other stories. -- developing currency. | :06:47. | :07:01. | |
Rail workers will begin a network strike on Tuesday. There will be an | :07:02. | :07:22. | |
ongoing blockade. All of this as the country hosts the football | :07:23. | :07:26. | |
tournament. Air traffic controllers and staff are going on strike. Is | :07:27. | :07:34. | |
anyone not going on strike in France? A transfer pact between the | :07:35. | :07:42. | |
EU and the US create significant improvements. The privacy shield was | :07:43. | :07:47. | |
meant to guard EU citizens personal information when it is stored in the | :07:48. | :07:59. | |
US. Volkswagen has released its latest numbers and sales and profits | :08:00. | :08:01. | |
are both down for the first three months. The profits have fallen by | :08:02. | :08:13. | |
20% and they expect overall sales to drop by 5% by the end of the year. | :08:14. | :08:22. | |
Hong Kong has overtaken the United States as the world's most | :08:23. | :08:26. | |
competitive economy. Where is that coming from? United States had held | :08:27. | :08:37. | |
the top spot for the last few years. Explain this to us, what has Hong | :08:38. | :08:46. | |
Kong got that pits the US? Hong Kong beat everyone, not just the US, | :08:47. | :08:50. | |
according to the survey by the IND, because of its innovation and its | :08:51. | :08:56. | |
low tax rates. It has some of the lowest tax rates in Asia. It is also | :08:57. | :09:00. | |
because Hong Kong is seen as a gateway to China for foreign and | :09:01. | :09:04. | |
direct investment. Mainland China also came in the top 25 of the most | :09:05. | :09:10. | |
competitive countries in the survey. Singapore came in fourth place and | :09:11. | :09:14. | |
the US held that top spot for four years and has been knocked off. Hong | :09:15. | :09:20. | |
Kong's fortunes are also inextricably linked to China. While | :09:21. | :09:25. | |
China's economy did well over the last decade, Hong Kong did well as | :09:26. | :09:29. | |
well. In the last few quarters, we are seeing the growth moderate and I | :09:30. | :09:33. | |
expect that Junior as China's economy increases. -- I expect that | :09:34. | :09:44. | |
to continue. Shares have recovered from a wobbly start. Japan recorded | :09:45. | :09:48. | |
better than expected hater. Shares were lifted and shares hike that was | :09:49. | :09:55. | |
planned is likely to be delayed until 2019. No trading on Monday | :09:56. | :09:59. | |
because of a public holiday. Let's flick over and look at the European | :10:00. | :10:04. | |
markets. The FTSE 100 responding to that from Asia. Good on you. He is | :10:05. | :10:11. | |
settling in! Let's stay with the markets. We have a global market | :10:12. | :10:18. | |
strategist. She joins us. Good to have you with us. We know the | :10:19. | :10:25. | |
markets are focused on the US, the European Central Bank meets later | :10:26. | :10:30. | |
this week. Our second headline story was Venezuelan. Lufthansa, Latan, | :10:31. | :10:38. | |
others are likely to follow suit because they will not get their | :10:39. | :10:43. | |
money back. More of an economic impact. Just a highlight around the | :10:44. | :10:48. | |
world, this country is being hammered at the moment. We are | :10:49. | :10:53. | |
talking about inflation of 700. It was up to 500, it is tougher a | :10:54. | :10:58. | |
country like Venezuela that is so dependent on the oil price. The cars | :10:59. | :11:03. | |
of the political situation and the restrictions on free trade of goods, | :11:04. | :11:08. | |
it is now basic goods are Venezuelans, it is extremely rare. | :11:09. | :11:12. | |
Companies and stores can keep jacking up the price, unless you | :11:13. | :11:17. | |
have a runaway inflation situation. I want to talk to you about Europe. | :11:18. | :11:27. | |
This is not sustainable surely? What happens? The inflation continues to | :11:28. | :11:33. | |
go that way, unemployment. Is this a bailout or an IMF scenario? Global | :11:34. | :11:39. | |
organisations are paying attention, there will be some step it whether | :11:40. | :11:43. | |
it is a big political change or the IMF saying we have to get this | :11:44. | :11:50. | |
figured out. It means a lot in Europe, the delay in the sales tax, | :11:51. | :11:55. | |
the hike in Japan, it has helped the Asian markets, it has not fed | :11:56. | :12:00. | |
through this morning to the European ones, it is a holiday weekend the | :12:01. | :12:06. | |
UK. The markets are a bit quiet, a wait and see. The last day in May | :12:07. | :12:10. | |
when next month we have so many market moving events and then it is | :12:11. | :12:15. | |
a quieter part of the week. You will come back and take us through the | :12:16. | :12:18. | |
newspapers. We will talk about robots. Still to come: being paid to | :12:19. | :12:27. | |
share your personal information. We will hear from the new website that | :12:28. | :12:31. | |
claims it is putting consumers back in control of their data. On that | :12:32. | :12:37. | |
note, give us a tweet. Do you trust organisations with your data and | :12:38. | :12:42. | |
would you flog it for some money? You are with business live from BBC | :12:43. | :12:48. | |
News. It is set to be a tough time for the class of 2016 graduates this | :12:49. | :12:53. | |
year. They will find it harder to get a job after university than in | :12:54. | :12:58. | |
previous years. Jobs advertised down 8% and the average pay offered has | :12:59. | :13:04. | |
fallen to 2013 levels. Rob Young is in our business newsroom. How tough | :13:05. | :13:09. | |
are things actually for graduates? It seems people leaving university | :13:10. | :13:15. | |
trying to get a job of being hit by a double whammy. The number of | :13:16. | :13:20. | |
graduate level jobs advertised is down 8% on a year ago, still 13,000 | :13:21. | :13:25. | |
of them advertised in April. This report from the jobs website says | :13:26. | :13:30. | |
that entry-level salaries have been falling as well, they have gone | :13:31. | :13:34. | |
backwards, down to the level they were at two and a half years ago, | :13:35. | :13:43. | |
still at a pretty decent ?23,000. Does it suggest that businesses are | :13:44. | :13:49. | |
just not confident about the future? And of course just around the corner | :13:50. | :13:57. | |
at the EU referendum. This has been described as the toughest jobs | :13:58. | :14:02. | |
market the years, but recruitment experts say this reflects a wider | :14:03. | :14:06. | |
jobs market and it may well be this is a temporary factor because | :14:07. | :14:10. | |
businesses are concerned about the outcome of the European Union | :14:11. | :14:14. | |
referendum. Economists also say there are other factors at play here | :14:15. | :14:19. | |
as well. If you look around the world, there are slowing economies | :14:20. | :14:22. | |
such as the United States and China as well. We appreciate your time, we | :14:23. | :14:30. | |
will talk to you soon. Rob Young joining us from our fancy newsroom. | :14:31. | :14:36. | |
We have the tablet thingy and it is not working. LAUGHTER | :14:37. | :14:46. | |
We have already mentioned the Volkswagen, check out our website, | :14:47. | :14:51. | |
the boss was saying false wagon is satisfied. -- false -- Volkswagen. | :14:52. | :15:07. | |
He said it was a challenging environment. Sales are down by 5% | :15:08. | :15:14. | |
between now and the end of the year. Our top story: India's predicted | :15:15. | :15:22. | |
to hold onto its ranking as the world's fastest | :15:23. | :15:27. | |
growing major economy, but can it become the powerhouse | :15:28. | :15:30. | |
for world growth? Would you share your personal | :15:31. | :15:36. | |
information if you were paid for it? Consumer data can be incredibly | :15:37. | :15:41. | |
valuable but often we don't realise it is worth and end up | :15:42. | :15:44. | |
giving it away for free. Putting a value on personal | :15:45. | :15:48. | |
data can be tough, but to give you an idea the firm | :15:49. | :15:53. | |
ESOMAR says the global market research industry is worth | :15:54. | :16:04. | |
$43 billion a year. But the balance of power | :16:05. | :16:08. | |
could be shifting. New EU legislation due out in 2018 | :16:09. | :16:10. | |
requires consumers to give explicit permission before | :16:11. | :16:13. | |
companies hold their details. One firm getting to grips | :16:14. | :16:23. | |
with that shift is People.IO. It lets consumers licence their data | :16:24. | :16:25. | |
to companies and says each person's Nicholas Oliver, founder | :16:26. | :16:30. | |
of People.io, a company that allows consumers | :16:31. | :16:34. | |
to license their data Great to have you in the studio. | :16:35. | :16:46. | |
You're quite good, quite savvy. I give you my information and I want | :16:47. | :16:49. | |
to know what sort of information you're asking for and you're going | :16:50. | :16:51. | |
to give me some money for that? Exactly. The way that it works is | :16:52. | :16:55. | |
giving you more control over it. So the important thing is we're not | :16:56. | :16:59. | |
selling your data to anybody. We're not sharing your data outside of the | :17:00. | :17:02. | |
system and anything that you're putting into it is stored within the | :17:03. | :17:06. | |
system. What are you asking from me though? May name? From the colours | :17:07. | :17:11. | |
you like to where you like going on holiday because what's really | :17:12. | :17:14. | |
interesting is you as a person have so many fascinating things about you | :17:15. | :17:21. | |
that advertisers shouldn't know. I just wonder how much it will work | :17:22. | :17:25. | |
because people are already giving away this data free. You fill out | :17:26. | :17:31. | |
your profile on Facebook or Twitter, you tell people what your favourite | :17:32. | :17:36. | |
colours and what your birthday is? That's what the new European | :17:37. | :17:39. | |
regulation is going to start creating an interesting area. A lot | :17:40. | :17:43. | |
of this data is being collected without you realising it. You go on | :17:44. | :17:47. | |
mainstream publishing websites and there are 50 or 60 different | :17:48. | :17:52. | |
companies tracking you as you're browsing around the internet. We | :17:53. | :17:54. | |
will start to see more control for the consumer. As we see that, they | :17:55. | :17:58. | |
will start to realise the value of their data. You were talking before | :17:59. | :18:06. | |
the show started, talking about when we fill those loyalty cards out for | :18:07. | :18:10. | |
a supermarket or airline, how valuable is information. I could | :18:11. | :18:12. | |
give you the information, but it is out there. As a lay man, I'm | :18:13. | :18:16. | |
confused by that, why is there a value to you when it is already out | :18:17. | :18:20. | |
there? The way that it is working is, you start respond to go | :18:21. | :18:26. | |
questions yourself. And by creating your own individual profile the | :18:27. | :18:31. | |
brands are able to talk to you as an individual, they can talk to you as | :18:32. | :18:34. | |
an individual without knowing who you are. Whilst you retain the | :18:35. | :18:38. | |
control and the privacy, you're able to create a lot more value because | :18:39. | :18:42. | |
it is a one-to-one communication instead of mass conversation. What | :18:43. | :18:45. | |
kind of companies do you think would be interested in buying the data | :18:46. | :18:49. | |
from you? So any company that understands the value of the | :18:50. | :18:53. | |
consumer having the control. I think more and more big brands are | :18:54. | :18:56. | |
understanding consumers should be the one in control because if you're | :18:57. | :19:01. | |
disrupting their life or they feel like you are being evasive or taking | :19:02. | :19:05. | |
advantage of that data, you as a consumer won't like that brand as | :19:06. | :19:09. | |
much. By giving you the control, any smart brand realises that's the way | :19:10. | :19:12. | |
to do it. The important thing, we are not giving them your data, we | :19:13. | :19:15. | |
have the platform that allows them to connect with you, without sharing | :19:16. | :19:20. | |
the data. That's a really interesting point. Once you've given | :19:21. | :19:31. | |
them data they hold it? What's important if you look across the | :19:32. | :19:35. | |
market, some of the biggest and successful companies don't own the | :19:36. | :19:39. | |
assets. Facebook doesn't own the content. Airbnb don't own the | :19:40. | :19:46. | |
property. Why would you want to own the data. What happens if Ben and I | :19:47. | :19:50. | |
say we want to leave. We've had enough of you? What do you do? What | :19:51. | :19:55. | |
promises? What is the guarantee that... It all gets deleted. Really? | :19:56. | :20:00. | |
We are working with the best lawyers in Europe at the moment to make sure | :20:01. | :20:04. | |
that you as a consumer have the control. Nicholas, great stuff. I | :20:05. | :20:10. | |
know we have got to wrap it up, but you had angel investment. We have | :20:11. | :20:14. | |
just finished our second investment round and we have Wire which is | :20:15. | :20:22. | |
Telefonica's programme. You're young too, aren't you? The guy is going to | :20:23. | :20:27. | |
be a millionaire before we know it T wrong path I took! Nicholas, great | :20:28. | :20:28. | |
stuff. Nicholas Oliver, thank you. Now, after six decades in football, | :20:29. | :20:36. | |
the only player ever to have won three World Cup winning medals, | :20:37. | :20:39. | |
Brazil legend Pele has decided to auction off the memorabilia | :20:40. | :20:41. | |
he has accumulated Here are some of the weird | :20:42. | :20:43. | |
and wonderful things you could buy. Would you buy any of it? Maybe. | :20:44. | :22:02. | |
Maybe. Would you buy any of it? Maybe if the price is right. | :22:03. | :22:09. | |
Can we start with the robot story? We've got pictures of it. A viewer | :22:10. | :22:19. | |
tweets in from Nairobi, she says, "A robot in my home? Yes! " What would | :22:20. | :22:31. | |
you do? There could be a lot of Dirksal values syncing up to | :22:32. | :22:35. | |
lighting and safety maybe if people are away from their home for hours | :22:36. | :22:39. | |
taking pictures and sending them to you on your smartphone. It depends | :22:40. | :22:43. | |
how connected it can get and if people want to buy that ?400 price | :22:44. | :22:49. | |
mark. You know with an ageing population around the world, and you | :22:50. | :22:54. | |
know, I can say look, "Hands up, my mum is by herself in Australia, not | :22:55. | :22:58. | |
doing that well." We are looking at get ago carer in to visit twice a | :22:59. | :23:03. | |
week. Put the robot in, connect with a cam ration we could check-in. It | :23:04. | :23:08. | |
gives you piece of mind, but it doesn't give the human contact. It | :23:09. | :23:17. | |
will say, "Take your pills." It has the reminder effects. I don't know | :23:18. | :23:21. | |
if it has the human caretaking skills. You have the smart devices. | :23:22. | :23:27. | |
Like I can control the heating from my phone. Can you really do that? I | :23:28. | :23:38. | |
had to deactivate the automatic robotic element where it said, "We | :23:39. | :23:42. | |
will figure out the schedule. My schedule is over the place." There | :23:43. | :23:46. | |
is an element of that, but it moves in that direction. A first step in | :23:47. | :23:50. | |
the artificial intelligence journey. We can't get away from it. This is | :23:51. | :23:57. | |
the future, robots. There will be robots doing our job. Don't you | :23:58. | :24:02. | |
tweet in saying, "A better job." When they start doing the hovering | :24:03. | :24:07. | |
and ironing where does it stop? The sharing community around the world, | :24:08. | :24:17. | |
it is big. We've got Airbnb and Uber, it was in the FT where its | :24:18. | :24:21. | |
European Commission is urging European EU countries don't ban | :24:22. | :24:25. | |
these things. It is an interesting dynamic right because in the UK you | :24:26. | :24:31. | |
have Uber and Airbnb, growing and working very well or engaging in the | :24:32. | :24:34. | |
population and in the economy whereas other countries like France | :24:35. | :24:38. | |
have completely shot down the institution of Uber on a large | :24:39. | :24:42. | |
scale. This is a classic example of the EU 28 regular lasses having | :24:43. | :24:45. | |
different rules in different countries. It is confusing for | :24:46. | :24:51. | |
start-ups or companies like Uber and Airbnb get ago foot hold in a region | :24:52. | :24:56. | |
that has so many different rules. Some will be relieved to hear this. | :24:57. | :25:00. | |
They rely on the services and they want to see them flourish. Others | :25:01. | :25:05. | |
like black cab drivers perhaps not so happy. That's the biggest | :25:06. | :25:10. | |
resistance in France. The local taxi drivers saying, "This is eating into | :25:11. | :25:18. | |
our market share." One thing you don't tend to use much is cash when | :25:19. | :25:22. | |
you are using these apps. Well said. You should take this up as a job! | :25:23. | :25:28. | |
Plastic notes. They are modifying the designs so they don't stick | :25:29. | :25:32. | |
together. If we get them, count carefully before you spend them! OK. | :25:33. | :25:36. | |
We have had plastic money in Australia for a long time. Yeah, | :25:37. | :25:42. | |
right, you are a step ahead. I don't remember them sticking together. | :25:43. | :25:45. | |
Thank you. It has been a pleasure. Have a great day. We will see you | :25:46. | :25:49. | |
soon. That's it from Business Live. Thanks for watching. You've got more | :25:50. | :25:53. | |
business throughout the rest of the day. I do. I do. . | :25:54. | :26:07. | |
Hello there. Good morning. If you're spending your day in northern or | :26:08. | :26:13. | |
western areas of the British Isles expect another fine, dry and mosty | :26:14. | :26:17. | |
sunny one. However, further east it is a different story. This rope of | :26:18. | :26:20. | |
cloud has been | :26:21. | :26:21. |