13/06/2016 BBC Business Live


13/06/2016

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With iPhone sales falling, will Apple wows them at the developer

:00:00.:00:32.

summit this year? A major upgrade of Siri expected, the digital

:00:33.:00:36.

assistant. We will get an update for you.

:00:37.:00:38.

German Chancellor Angela Merkel is in China where she's played

:00:39.:00:40.

down talk of a trade war but warns of the need

:00:41.:00:43.

Our team in Beijing will tell us how that is going down. A dismal start

:00:44.:00:52.

to the trading week. Market watchers are on edge in Europe and in Asia,

:00:53.:00:58.

including beatings at the US Federal including beatings at the US Federal

:00:59.:01:08.

reserve and the bank of Japan. -- meetings.

:01:09.:01:11.

And we'll be getting the inside track on the traditional

:01:12.:01:13.

Indian skill of eyebrow threading and how one woman has

:01:14.:01:15.

used it to help create a multi-million-dollar business.

:01:16.:01:17.

Today we want to know do you ever use digital assistants?

:01:18.:01:21.

Do get in touch. Digital assistants, do you love it or hate it? Do they

:01:22.:01:48.

get on your nerves? Yes, we are using our favourite pun.

:01:49.:01:50.

Apple's core business is the iPhone, but as sales of its

:01:51.:01:53.

most widely used product begin to slide the company is having

:01:54.:01:56.

to search elsewhere for ways to drive its gargantuan

:01:57.:01:58.

Apple sold a massive 51.2 million iPhones during the first three

:01:59.:02:08.

months of the year but crucially that is 10 million

:02:09.:02:10.

for the first quarter dropping by a massive 13 percent with many

:02:11.:02:20.

blaming an over-reliance on a single product.

:02:21.:02:25.

Today Apple holds its developers' conference in Silicon Valley

:02:26.:02:40.

where it's expected to launch a major artificial

:02:41.:02:42.

intelligence update for the digital assistant Siri.

:02:43.:02:44.

The California firm is also expected to unveil changes to HomeKit

:02:45.:02:47.

which allows users to connect home features such as lighting

:02:48.:02:49.

But will it be enough to impress investors?

:02:50.:02:52.

The share price has certainly taken a hit since it peaked this time last

:02:53.:02:55.

year and those in the industry say some major innovations are needed

:02:56.:02:59.

if Apple wants to hold onto its title as the world's

:03:00.:03:01.

Alex Wood, editor in chief of The Memo, is with me.

:03:02.:03:14.

Good to see you. Sally taking us through the numbers involved. How

:03:15.:03:21.

would you describe Apple's performance of late? Where are they?

:03:22.:03:25.

Looking at smartphones alone, they dominate the market. But from my

:03:26.:03:36.

perspective, the outlook is mixed. In terms of innovation and new

:03:37.:03:39.

products, things have been lacklustre for the last couple of

:03:40.:03:43.

years. This conference is more about the software than the hardware,

:03:44.:03:47.

which is what we are used to when it comes to Apple. I want to ask you

:03:48.:03:53.

specifically about Siri. We are expecting announcements regarding a

:03:54.:03:56.

new and improved Siri but there are accusations that it has fallen

:03:57.:04:03.

behind the likes of Amazon, and Google. What can we expect from Siri

:04:04.:04:05.

today? Everybody has got Siri on the iPhone

:04:06.:04:14.

but most people are not using it and it has been very limited to date. If

:04:15.:04:18.

you look at companies like Amazon, it was a real surprise for them.

:04:19.:04:22.

They dipped their toe in a market with a product called Alexa, a

:04:23.:04:26.

speaker in their kitchen, and people have been blown away by what they

:04:27.:04:28.

can do with it. Amazon made it open from day one, which is a key

:04:29.:04:32.

difference in approach. So people are now building that

:04:33.:04:51.

technology into other products around the home, other speakers. But

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for Apple everything is closed inside their world and for that

:04:54.:04:56.

reason they have fallen behind. Tell me about the changes to home kit,

:04:57.:04:58.

which links up digital devices within the home? That could be very

:04:59.:04:59.

interesting. If you have heard about devices like

:05:00.:05:02.

smart home, internet connected thermostat for the heating, all of

:05:03.:05:03.

these things are very fragmented. If you have them in your home, like

:05:04.:05:08.

me, I kid you not I have six apps for my home! One for your light

:05:09.:05:11.

bulbs, one for home security and it is completely nuts. If Apple can

:05:12.:05:15.

pull this off, the idea is that it brings it all together into one

:05:16.:05:19.

remote control to make things more simple.

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if this is innovation for innovation's sake but in your house

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it is clearly necessary! Thank you. The mind boggles. Now some other

:05:30.:05:32.

business stories. Retailer Walmart Canada will no

:05:33.:05:37.

longer accept Visa cards after it failed to agree a deal

:05:38.:05:39.

with the credit card firm. Fees applied to Visa card purchases

:05:40.:05:42.

remain unacceptably high, Walmart it is offering the company one

:05:43.:05:44.

of the lowest rates available The chief executive and chairman

:05:45.:05:51.

of telecoms giant BT are sending a joint letter to their staff along

:05:52.:06:00.

with union leaders that say they want the UK

:06:01.:06:02.

to stay in a reformed EU. Responding to the letter

:06:03.:06:05.

the Vote Leave campaign say that if the UK really wants to take back

:06:06.:06:08.

control of its economy, its democracy and its borders then

:06:09.:06:11.

the British people have to vote to We are talking about that referendum

:06:12.:06:14.

which is coming up on June 23. The founder of UK sports retailer

:06:15.:06:26.

Sports Direct, Mike Ashley, has written to the administrators

:06:27.:06:29.

of the British department store chain BHS expressing an interest

:06:30.:06:31.

in taking over some of its stores. In his letter, Mr Ashley said

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he was keen to save the BHS brand as well as a number of jobs

:06:38.:06:40.

with the retailer. The company is being wound down

:06:41.:06:43.

after administrators failed to find We just want to take you across some

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of the stories that have piqued our interest on the BBC's Business Live

:06:59.:07:04.

page. Coming up soon this summer, a big thing for Brits, music

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festivals. Alice is a music festival lover. It is true. No Glam --

:07:11.:07:26.

glamping. And I am not alone! I am hard-core. Festivals are worth ?3.7

:07:27.:07:31.

billion to the UK economy, according to a report into UK music. The

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appetite for this appears to be growing and growing, just when we

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think the industry is saturated and there couldn't be another festival,

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and there were 10.4 million music tourists supporting thousands of

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jobs. The German Chancellor Angela Merkel

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has arrived in China for her ninth visit to the country with trade

:07:58.:08:00.

and investment high on the agenda. Good to talk to you. As Sally said,

:08:01.:08:12.

trade and investment are high on the agenda. Talk through what is on the

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table. The ninth visit by Angela Merkel to China since becoming

:08:19.:08:20.

Chancellor and other world leaders would be envious of the access that

:08:21.:08:26.

the German leader has to Beijing. She doesn't mind raising sensitive

:08:27.:08:30.

issues when she is here. For example, at these photo

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opportunities, when reporters are allowed in for the first minute to

:08:35.:08:38.

film leaders shaking hands, she has already spoken about the need for

:08:39.:08:41.

greater certainty in terms of the rule of law in China. We are

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expecting steel to be brought up because China is accused of dumping

:08:47.:08:49.

steel at below market rates into other economies. What sort of

:08:50.:08:55.

leverage might Angela Merkel have? At the moment a Chinese company is

:08:56.:09:00.

wanting to buy a German high-tech industrial robotics company. In

:09:01.:09:05.

theory she could say to their Chinese counterparts, look, if you

:09:06.:09:10.

want to buy Germany's high-tech companies, we need some action on

:09:11.:09:13.

steel and we need you to do something about the rule of law and

:09:14.:09:17.

we need a more level playing field in terms of trade. You mentioned

:09:18.:09:23.

this issue of steel. Angela Merkel has got to walk a fine line because

:09:24.:09:27.

as you say many would regard her as enjoying something of a special

:09:28.:09:32.

relationship with China, as shown by the number of visits that she has

:09:33.:09:36.

taken to the country. It is a delicate balancing act that she has

:09:37.:09:44.

got to step in this area. It certainly is. But the funny thing is

:09:45.:09:48.

that she has this, as you mention, pretty good access to Chinese

:09:49.:09:53.

leaders, and yet among all the world leaders in the west, she does seem

:09:54.:09:58.

to stand head and shoulders above others in terms of being prepared to

:09:59.:10:03.

talk about the tough issues. She will not mind saying that she thinks

:10:04.:10:07.

there is a problem with steel. The Chinese government knows that it has

:10:08.:10:10.

got this problem as well, so there is room to move on it. It is not

:10:11.:10:14.

that they are not aware of an overcapacity problem. I am sure she

:10:15.:10:18.

will be very delicate and yet firm in what she says about it. Thank

:10:19.:10:27.

you. We will keep an eye on that as the week progresses, Angela Merkel's

:10:28.:10:30.

trip to China. Let's look at the markets. What they start a week for

:10:31.:10:38.

Japan, down nearly 4% and Hong Kong nearly 3% lower. This is because of

:10:39.:10:46.

a heck offer nerves out there. We have the Japan meeting and the

:10:47.:10:51.

Federal bank meeting. Japan is not expecting any stimulus from the Bank

:10:52.:10:55.

of Japan, so that is why stimulus is low. And the Chinese economy is

:10:56.:11:02.

pretty flat as well. In the UK, the pound is weak against the US dollar.

:11:03.:11:07.

We will move on to Europe in a moment if we can show viewers those

:11:08.:11:10.

numbers. The pound is lower than the dollar because of the UK referendum

:11:11.:11:20.

on membership of the European Union. That is hitting many markets around

:11:21.:11:24.

the world but certainly London and the pound. The yen has been strong.

:11:25.:11:28.

Safe havens like the Japanese yen very much in favour the moment. I

:11:29.:11:32.

will hand you back to Alice who has someone here to tell us why there is

:11:33.:11:34.

so much fear. Joining us is Jeremy Cook,

:11:35.:11:37.

Chief Economist, World First. Pretty bleak picture. What do you

:11:38.:11:45.

make of that? The stronger yen, tell us what is happening in Asia. It is

:11:46.:11:50.

a miserable Monday wherever you look and we have seen it in the past week

:11:51.:11:54.

that bond markets have been pretty active investors moving out of

:11:55.:11:58.

riskier assets like shares and riskier currencies moving back into

:11:59.:12:02.

bonds because of three main fears. The global slow down, the news out

:12:03.:12:07.

of Asia, Europe, Chinese investment news overnight pretty poor,

:12:08.:12:10.

everybody talking about the EU referendum whether you are in the UK

:12:11.:12:16.

or around the world, and also the likelihood that the Fed will not

:12:17.:12:21.

freeze rates at their meeting on Thursday. -- will not raise rates.

:12:22.:12:30.

The Fed issue is the main one. They raised rates in December. They jobs

:12:31.:12:35.

figure came out ten days ago thinking that June could be the time

:12:36.:12:38.

we could see another rate rise from the Federal Reserve. That number is

:12:39.:12:44.

out of the US jobs market. 30 one fifth of what the market has got

:12:45.:12:54.

used to. -- 38,000. Do you think this ruling is here to stay until

:12:55.:13:01.

June 23? Once the Fed meeting is out of the way and the Bank of Japan. We

:13:02.:13:07.

are not expecting anything. That is right. The banks want more stimulus

:13:08.:13:11.

but they are not going to get it. Certainly not from the Fed but maybe

:13:12.:13:16.

from the Japanese next month. Is the feeling here to stay? Referendum is

:13:17.:13:20.

a huge sentimental hurdle to jump over in the short-term but then the

:13:21.:13:24.

focus shifts. Markets get myopic about this. We have the referendum

:13:25.:13:29.

in June but then we will be talking about the migrant crisis in Europe

:13:30.:13:32.

and then the US presidential election, so this is half-time. Only

:13:33.:13:38.

half-time! Are you exhausted? You are going to take through the papers

:13:39.:13:44.

in a moment, Jeremy good stuff. Next, we will be looking at a

:13:45.:13:47.

business that has raised more than a few eyebrows. Goodness me! We will

:13:48.:13:51.

be joined by the founder of a company that has come up with a

:13:52.:13:55.

technique that has been around for many years but which has become new

:13:56.:14:00.

to many of us and very popular. Eyebrow threading. We will explain

:14:01.:14:05.

all. You are with Business Live from BBC News. Stay with us.

:14:06.:14:12.

Time to dust off your top hat and fascinator.

:14:13.:14:14.

Ascot is one of the few UK racecourses not owned

:14:15.:14:17.

Today Ascot releases its latest financial results, and we are joined

:14:18.:14:21.

Wonderful to talk to you. Talk us through the numbers. Good morning.

:14:22.:14:34.

We are very pleased to announce a solid set of results for 2015. Our

:14:35.:14:39.

numbers are up across the board and turnover is up 10%. Net profits

:14:40.:14:45.

before tax are up 42% and most importantly our edict arts cash

:14:46.:14:54.

generation is up over 10%. -- EBITDA. That is what allows us to

:14:55.:14:58.

invest in facilities and prize money for most men aren't the event as a

:14:59.:15:04.

whole. Part of that is because you diversify it and it is not just

:15:05.:15:08.

about the horse racing. The biggest event of the year starts for you

:15:09.:15:10.

tomorrow and the Queen will be there.

:15:11.:15:16.

It means a lot to us that the Queen and her family enjoy Royal Ascot.

:15:17.:15:25.

And her horses have won 22 races at Royal Ascot. This week, she could

:15:26.:15:30.

have up to six runners, the most high-profile of which is Dartmouth

:15:31.:15:35.

we wish him all the best in the Hardwick Stakes. Later on in the

:15:36.:15:39.

week we have the prospect of runners for The Prince of Wales and the

:15:40.:15:41.

Duchess of Cornwall and on Thursday, the Gold Cup, is run in honour of

:15:42.:15:50.

the Queen's birthday, 90th birthday for which the official celebrations

:15:51.:15:53.

started yesterday and we hope she will have a lovely time at Ascot

:15:54.:16:01.

with her family and with her guests. A very colourful event. Lots of us

:16:02.:16:07.

tuning in. Ascot kicks off tomorrow. It does, indeed.

:16:08.:16:14.

Gatwick Gusher, oil firms buy up more land apparently. You can read

:16:15.:16:18.

more about this on the Business Live page, but the firm are planning to

:16:19.:16:23.

extract from the Gatwick area. That's the UK oil and gas

:16:24.:16:27.

investments, that's the name, they are spending ?3.5 million to acquire

:16:28.:16:33.

Horse Hill Well in Surrey. Clearly, they believe there is a lot to be

:16:34.:16:36.

found there. They are investing in earnest.

:16:37.:16:41.

As Apple holds a developers summit in Silicon Valley it is expected

:16:42.:16:52.

to launch a major update to its digital assistant Siri,

:16:53.:16:55.

but will it be enough to stop sliding iPhone sales?

:16:56.:17:02.

When she can make me a cup of tea and watch my children, that's when I

:17:03.:17:07.

would be interested! Now let's get the Inside Track

:17:08.:17:09.

with a entrepreneur who hopes to change the face

:17:10.:17:11.

of the beauty industry. When Vanita Parti left her full-time

:17:12.:17:14.

job to spend time with her young family, it might have seemed that

:17:15.:17:17.

setting up a global business Fast forward 12 years and she's

:17:18.:17:20.

brought traditional Indian eyebrow Her business, Blink Brow Bar has

:17:21.:17:32.

over 25 walk-in bars in the UK and another opening in the famous

:17:33.:17:39.

Saks department store in New York. The brand also has an award winning

:17:40.:17:42.

line up of beauty products including brow kits,

:17:43.:17:47.

colouring products and skincare. Vanita Parti the founder

:17:48.:17:50.

and chief executive Your eyebrows look wonderful! Thank

:17:51.:18:05.

you. Just talk us through why you decided to make this leap. You were

:18:06.:18:09.

working in marketing, in branding and then to go and set-up a business

:18:10.:18:14.

from scratch. What made you want to do it? Well, think children change

:18:15.:18:19.

everything. You hope you're going to have a child and go back to work and

:18:20.:18:22.

your career will continue and flourish and of course, I had my

:18:23.:18:26.

child, dpel in love with her and wanted to go back on a part-time

:18:27.:18:32.

basis, but realised you can't climb up the career ladder on a part-time

:18:33.:18:37.

basis sadly. I took the leap. I left. I worked for a small start-up

:18:38.:18:42.

and realised why don't I just set-up my own business? And really that

:18:43.:18:48.

would be the only way where I could fulfil my ambitions and be able to

:18:49.:18:52.

work to the hours I want to. You may hate this, but there is a term for

:18:53.:19:00.

people like you, called the mumpreners, have you heard of it? I

:19:01.:19:04.

have. Explain the idea for your company? Sorry, the idea. You

:19:05.:19:10.

started a business, I'm going to be a mum and be fulfilled in my career,

:19:11.:19:14.

why eyebrows? It was actually the business that was the important part

:19:15.:19:18.

and then I was really trying to search for an idea and I first of

:19:19.:19:27.

all I thought I would set-up a dating website called Bombay Mix and

:19:28.:19:31.

realised I didn't have the technological know how. It came to

:19:32.:19:35.

me one day when I travelled far to get my eyebrows threaded out to the

:19:36.:19:40.

suburbs and I just thought god, I make this journey every two weeks, I

:19:41.:19:44.

can't get my eyebrows threaded in London. I thought Londoners really

:19:45.:19:49.

neglect their eyebrows and that needs to be sorted out! When we

:19:50.:19:56.

found out you were coming, we were grooming! Mine is better now. It is

:19:57.:20:03.

the first walk-in brow bar in the UK and how has the industry changed. My

:20:04.:20:11.

mother used to pluck her eyebrows, they used to be thin, I feel that

:20:12.:20:15.

we're back in the Brooke Shields era where we want strong power brows? I

:20:16.:20:21.

think people have just become aware and they realised that eyebrows are

:20:22.:20:24.

so important and make such a difference and ten years ago, it was

:20:25.:20:27.

amazing. People just didn't take care of them. They were an after

:20:28.:20:32.

thought and now they are the foundation of anyone's beauty

:20:33.:20:35.

regime. Do you get men? We get lots of men. It is a growing market and

:20:36.:20:39.

they are not shy. Tell us about how you manage it had do this. The

:20:40.:20:43.

company is big now. You're pretty major in the UK, you're looking

:20:44.:20:47.

elsewhere like New York for example, did you find that you just had the

:20:48.:20:50.

business skills you needed or did you find actually you needed a lot

:20:51.:20:54.

of help from experts. How did you do it? Well, sadly you don't have the

:20:55.:20:58.

business skills, you try and use a lot of common sense. The key was

:20:59.:21:02.

trying to build a brand and that's a skill I got from being at British

:21:03.:21:05.

Airways for many years. And you know, it is just about building a

:21:06.:21:11.

really trusted brand, offering a consistent service, so yeah, we

:21:12.:21:14.

really worked on that and just working with mentors, people that

:21:15.:21:18.

could help me and just, you know, trying to get skills in where I

:21:19.:21:22.

recognised I needed them. Just really briefly because we are sort

:21:23.:21:25.

of out of time. I want one more question. Are you managing to spend

:21:26.:21:29.

the time with your children that you hoped for by not working for a

:21:30.:21:32.

corporate? It is brilliant. Now, it is really working well. You got the

:21:33.:21:37.

balance right? Yes. Well done. Thank you for coming in.

:21:38.:21:44.

The gaming industry has descended on Los Angeles for E3,

:21:45.:21:47.

the biggest video games show in the world.

:21:48.:21:49.

It is a chance for the big names to show off their latest

:21:50.:21:52.

Our BBC North America technology reporter Dave Lee gave us this

:21:53.:21:56.

It's that time of year again when the games industry

:21:57.:22:12.

descend in their thousands to Los Angeles for E3.

:22:13.:22:17.

For gaming fans, it is a first chance to look at the

:22:18.:22:20.

titles that could be the blockbuster hits over

:22:21.:22:22.

What have you seen at E3 caught your eye?

:22:23.:22:31.

Titanfall 2. The mesmerising.

:22:32.:22:32.

The sequel they have introduced, the single player campaign,

:22:33.:22:34.

Mass Effect was really impressive and I'm really looking forward

:22:35.:22:37.

to just how different it will be this time around.

:22:38.:22:40.

We don't know everything yet, I'm just looking forward to more

:22:41.:22:44.

VOICEOVER: Worlds where adventure, danger and the unknown

:22:45.:22:49.

Dave Lee was there and he will continue to update us on Twitter.

:22:50.:23:01.

And online. What other business

:23:02.:23:04.

stories has the media been Joining us is Jeremy Cook,

:23:05.:23:06.

Chief Economist, World Do you use media? I use OK Google on

:23:07.:23:19.

my phone. You are an android user? I look strange doing it in public or

:23:20.:23:23.

the only reason I use it when I can't spell something. Do you have

:23:24.:23:28.

to say Google? You say OK Google and it goes blink and then you can ask

:23:29.:23:33.

your directions or whatever. You think is someone talking to their

:23:34.:23:40.

phone or themselves? Apple is beefing it up its developer

:23:41.:23:51.

conference. Ryan Olsen, "Siri is a nuisance." ." Another view says,

:23:52.:23:57.

"When I am in a hurry, it has value." Another viewer says, "Siri

:23:58.:24:08.

performs so poorly. Apple has been resting on its laurels." I want to

:24:09.:24:12.

talk to you about this story we spotted in The Telegraph on the

:24:13.:24:16.

business pages. Sky really feeling the pinch with regards to the amount

:24:17.:24:20.

that it spends for its premiership football rights? Yeah, ?1.4 billion.

:24:21.:24:26.

Now, that is a lot of money to spend on a football game and you can see

:24:27.:24:32.

from, you know, if anyone goes to their club, you can see ticket

:24:33.:24:36.

prices increasing and the wages are increasing and the transfer money is

:24:37.:24:39.

increasing so where is the money coming from? A lot is coming from

:24:40.:24:43.

the football rights and that's hitting people in the pocket when

:24:44.:24:46.

they are paying their Sky bill or the Virgin bill at the end of the

:24:47.:24:51.

month. It is timely with Euro 2016 under way and I was just asking you

:24:52.:24:55.

Jeremy about what's going on in the City of London during that time?

:24:56.:24:59.

Yes. You're all watching the football. I wouldn't be surprised if

:25:00.:25:04.

a lot of people have their iPads on their desks and you know, they're

:25:05.:25:09.

busy. You said it was a given when we were off air? True. They are

:25:10.:25:14.

keeping an eye on things. Who is your money on? I have got two sweep

:25:15.:25:20.

stake entries, England which have taken a hit and I pulled out France,

:25:21.:25:25.

but I still Germany wins. You never bet against the Germans. Jeremy,

:25:26.:25:30.

thank you for coming in. Thank you for your companiment have a great

:25:31.:25:33.

day. We will see you soon. Have a great day. Thanks for

:25:34.:25:34.

watching.

:25:35.:25:42.

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