Browse content similar to 12/07/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Ben Thompson and Alice Baxter. | :00:00. | :00:09. | |
"The lady's not for turning" - famous words from Margaret Thatcher | :00:10. | :00:13. | |
but could they also apply to Britain's new leader Theresa May? | :00:14. | :00:16. | |
With Brexit negotiations round the corner, is she the right | :00:17. | :00:18. | |
Live from London, that's our top story on Tuesday 12th July. | :00:19. | :00:40. | |
Theresa May is set to become the next Prime Minister | :00:41. | :00:44. | |
of the United Kingdom, potentially cutting short months | :00:45. | :00:46. | |
We'll take a look at what's next for Britain, following the country's | :00:47. | :00:54. | |
An international court is due to issue its verdict | :00:55. | :01:02. | |
What does this mean for the $5.3-trillion worth of trade | :01:03. | :01:06. | |
to flow through these contested waters? | :01:07. | :01:10. | |
We will find out. And this is what the markets look like, the first | :01:11. | :01:16. | |
half an hour of trade under way in Europe. We will have the details for | :01:17. | :01:17. | |
you. And we'll be talking to successful | :01:18. | :01:19. | |
entrepreneur William Kendall about his latest venture, | :01:20. | :01:22. | |
selling chocolate-maker Green Blacks to Cadbury, | :01:23. | :01:24. | |
and what needs to be fixed Today we want to know how | :01:25. | :01:26. | |
you would improve your office space It's all the rage among | :01:27. | :01:34. | |
the big tech giants So let us know your office | :01:35. | :01:41. | |
improvement thoughts. Seriously, people have bouncy | :01:42. | :02:03. | |
castles in their office?! If you have one, let us know! | :02:04. | :02:08. | |
It's been an eventful couple of weeks in UK politics | :02:09. | :02:11. | |
but Theresa May has emerged as the next Prime Minister | :02:12. | :02:13. | |
Yesterday, Andrea Leadsom, her main rival for the role, | :02:14. | :02:17. | |
pulled out of the race to become leader of the Conservative Party. | :02:18. | :02:21. | |
So what could May's leadership mean for the economy? | :02:22. | :02:24. | |
Mrs May says she'll put worker representatives on executive boards | :02:25. | :02:26. | |
in order to address the "unhealthy and growing gap" between | :02:27. | :02:29. | |
She's also pledged to increase the power given to shareholders | :02:30. | :02:35. | |
This comes after investors in several companies attempted | :02:36. | :02:54. | |
Ultimately, these were shareholder protests that went ignored | :02:55. | :02:58. | |
With me is Jessica Ground, of UK equities fund manager Schroders. | :02:59. | :03:04. | |
We have the second woman to Dubai Number Ten one quarter of the | :03:05. | :03:09. | |
century, an exciting time for the UK. She has got a big task in front | :03:10. | :03:13. | |
of her, who will make up the Cabinet? The first priority, who | :03:14. | :03:19. | |
will be the Chancellor? She has got about 100 posts to fill and this is | :03:20. | :03:23. | |
her chance to return papers and set her agenda out. The interesting | :03:24. | :03:27. | |
thing about yesterday is she was quite critical of the Treasury and, | :03:28. | :03:32. | |
by default, George Osborne. Saying he had not done enough to solve | :03:33. | :03:38. | |
productivity, which is such a key games for so many people and the | :03:39. | :03:42. | |
growth of the country, and also that he perhaps had not done enough on | :03:43. | :03:46. | |
infrastructure investing, so, following that, I would be quite | :03:47. | :03:50. | |
surprised if George stayed in the hot seat in the Treasury, and the | :03:51. | :03:55. | |
speculation going that Philip Hammond would prefer that. I think | :03:56. | :04:01. | |
the question is, does he get the other big job he would like, which | :04:02. | :04:05. | |
is in the Foreign Office with a focus on trade? How likely is it | :04:06. | :04:10. | |
that she will include some of those prominent Brexiteers around the head | :04:11. | :04:15. | |
table, Mr Johnson and Mr Gove particularly? I think Mr Gove | :04:16. | :04:22. | |
probably more likely than Mr Johnson, who is probably seen as a | :04:23. | :04:29. | |
live wire. She was a Remain campaigner and she will want to be | :04:30. | :04:34. | |
pretty clear that, she has said that Brexit what happened, and so she is | :04:35. | :04:38. | |
going to want to give Brexit good weight in the Cabinet, and I think | :04:39. | :04:42. | |
people like Liam Fox, who supported her in this, they should see good | :04:43. | :04:50. | |
position is coming to them. In terms of her economic strategy, she was | :04:51. | :04:53. | |
pretty critical of some of Mr Osborne's strategies in their past, | :04:54. | :04:59. | |
she has criticised his focus on two of our great regional cities, if you | :05:00. | :05:04. | |
like, a suggestion she might want to develop more than just London and | :05:05. | :05:08. | |
Manchester is what many people in third from those comments. She also | :05:09. | :05:14. | |
pledged to tackle predatory takeover power was on the part of some | :05:15. | :05:17. | |
corporations out there and also wanting to close the gap between | :05:18. | :05:23. | |
executive pay and work paid. Is the city were read by these comments? I | :05:24. | :05:29. | |
think much of what she has said, the city has been on a introductory | :05:30. | :05:34. | |
already. If we just look at the issue of pay, we have seen big votes | :05:35. | :05:41. | |
against CEO pay, certainly in the US where there is more disclosure on | :05:42. | :05:46. | |
CEO pay relative to average workers' pay. So I think that momentum is | :05:47. | :05:51. | |
already underway. I think the protection for industries, that has | :05:52. | :06:01. | |
sort of been on the table since Kraft taking Deborah Cadbury, the | :06:02. | :06:07. | |
feeling that promises given were not delivered, so I don't think those | :06:08. | :06:10. | |
are surprising. I think there has been a feeling for some time that | :06:11. | :06:15. | |
this issue of inequality needs to be looked at and, believe it or not, | :06:16. | :06:21. | |
even in the city, for we, as investors, we want sustainable | :06:22. | :06:27. | |
business models, companies treating employees well, we have been | :06:28. | :06:31. | |
campaigning for the living wage and encouraging companies to adopt that. | :06:32. | :06:38. | |
I think it is right that we look at, how do all stakeholders, the | :06:39. | :06:43. | |
environment, customers, workers, benefit, and it cannot just be CEOs' | :06:44. | :06:48. | |
pay and nothing for the rest of the country. She was on the Remain camp | :06:49. | :06:52. | |
but reiterated again, Brexit is Brexit and let's crack on with it. | :06:53. | :06:56. | |
Good to talk to you, Jessica. A big task ahead for Theresa May. | :06:57. | :07:00. | |
Absolutely, and we will keep you across all of the developments | :07:01. | :07:01. | |
there. US officials didn't prosecute HSBC | :07:02. | :07:04. | |
for money laundering in 2012 because they were worried it | :07:05. | :07:08. | |
could cause a "global That's the verdict of | :07:09. | :07:10. | |
a report from US Congress. Four years ago, HSBC was accused | :07:11. | :07:13. | |
of breaching US sanctions and allowing drug cartels to use | :07:14. | :07:16. | |
its branches to launder money. The bank paid a $1.92 billion | :07:17. | :07:20. | |
settlement but did not Ikea has announced that it's | :07:21. | :07:23. | |
recalling 1.7 million chests of drawers in China over | :07:24. | :07:41. | |
concerns they could pose a danger to children if not | :07:42. | :07:43. | |
properly fixed to walls. The recall covers items in the Malm | :07:44. | :07:46. | |
range that were manufactured The announcement's after the Swedish | :07:47. | :07:48. | |
furniture company recalled 36 million dressers in North | :07:49. | :07:53. | |
America. Coffee giant Starbucks is to raise | :07:54. | :07:58. | |
wages for workers at its stores It comes after the company | :07:59. | :08:01. | |
was criticised for cutting staff hours and raising prices | :08:02. | :08:07. | |
to meet profit targets. In a letter to employees, | :08:08. | :08:10. | |
Starbucks' boss Howard Schultz said the company was looking to strike | :08:11. | :08:13. | |
a balance between profit Let's take you quickly to the | :08:14. | :08:26. | |
Business Live page. We talked yesterday about the Farnborough | :08:27. | :08:31. | |
airshow, which kicked off with a big deal. A Boeing ?3 billion deal | :08:32. | :08:37. | |
yesterday, hard to top, as the live page points out. Our correspondent | :08:38. | :08:41. | |
is at the airshow and says it is not raining yet, fingers crossed the | :08:42. | :08:44. | |
weather stays good because it was particularly terrible... | :08:45. | :08:51. | |
A torrential downpour! Such a shame. And this from David Jones, one of | :08:52. | :08:56. | |
our regular guests, we have talked about the slumping value of the | :08:57. | :08:59. | |
pound so much recently in the wake of the Brexit boat but things are | :09:00. | :09:02. | |
tipping up a little bit, looking slightly better, and we will talk | :09:03. | :09:05. | |
about that more in the markets later. | :09:06. | :09:10. | |
Let's head to Asia, because after more than three | :09:11. | :09:12. | |
years and many hearings, a ruling is expected in The Hague | :09:13. | :09:18. | |
later on the hugely contentious issue of China's claims over | :09:19. | :09:21. | |
The Philippines brought the case to court in 2013, | :09:22. | :09:24. | |
and disputes China's territorial claims for about 90% | :09:25. | :09:26. | |
Well, it's thought $5.3 trillion worth of trade passes | :09:27. | :09:31. | |
through the disputed waters every year. | :09:32. | :09:37. | |
So it's vital for China, but also for energy. | :09:38. | :09:42. | |
The South China Sea is also thought to contain billions of barrels | :09:43. | :09:45. | |
of crude oil and up to 900 trillion cubic feet of natural gas. | :09:46. | :09:51. | |
And China has already invested $20 billion in finding out | :09:52. | :09:53. | |
We can speak to Eufracia Taylor, Asia analyst at risk | :09:54. | :10:00. | |
consultancy Verisk Maplecroft, in Singapore for us. | :10:01. | :10:05. | |
Nice to see you. Just explain, we have tried to touch on the | :10:06. | :10:11. | |
significance of the South China Sea, but give us your take on what is at | :10:12. | :10:15. | |
stake and why it is so vitally important, and why we will be | :10:16. | :10:20. | |
looking at the verdict from the Hague today? It is important | :10:21. | :10:26. | |
particularly for merchandise trade between the regions, and really | :10:27. | :10:32. | |
between Asia and the rest of the world. The South China Sea act as a | :10:33. | :10:36. | |
gateway for Asian manufacturers, consumers, to getting products out | :10:37. | :10:42. | |
and bringing products in, and, as you mentioned, probably one of the | :10:43. | :10:45. | |
most contentious issues around the territorial dispute is in terms of | :10:46. | :10:50. | |
energy. Huge amounts of crude oil and liquefied natural gas is | :10:51. | :10:53. | |
channelled through the South China Sea each year and a huge proportion | :10:54. | :10:58. | |
goes to China, and it is one of the key reasons that it is so eager to | :10:59. | :11:02. | |
ensure it has control over those waters. It is also one of the | :11:03. | :11:07. | |
reasons why Japan in particular, despite sitting on the shelves of | :11:08. | :11:12. | |
the South China Sea, is also watching the issue so closely as it | :11:13. | :11:16. | |
depends significantly on the South China Sea to bring through its own | :11:17. | :11:20. | |
liquefied natural gas supplies and power its industry. We are seeing, | :11:21. | :11:25. | |
as imagined, in terms of internal trade but also energy security, it | :11:26. | :11:31. | |
is a huge issue. About 60% of the $5 trillion of trade that passes | :11:32. | :11:35. | |
through the South China Sea ends up in China, but they have said that | :11:36. | :11:39. | |
they are ignoring the outcome of today's's ruling, whatever it will | :11:40. | :11:44. | |
be, in the Hague. What do you think the ruling will be, and what sort of | :11:45. | :11:49. | |
impact can it have, given what China has set? At this moment it is | :11:50. | :11:53. | |
incredibly difficult to determine what the ruling will be, primarily | :11:54. | :11:58. | |
because there are 15 claims specifically that the court in the | :11:59. | :12:01. | |
Hague will be ruling on, and the court has also reserved its direct | :12:02. | :12:07. | |
consideration of some of the most contentious claims, such as the | :12:08. | :12:15. | |
status of China's historical claims. One thing we can say for sure is | :12:16. | :12:20. | |
that even though China, as you mentioned, will reject the award, it | :12:21. | :12:27. | |
cannot ignore it, because regardless of whether the court rules against | :12:28. | :12:32. | |
China's claims feathers in Beijing have been ruffled and it is now at | :12:33. | :12:37. | |
the point where, even if the court at Staines from ruling on those most | :12:38. | :12:43. | |
contentious measures, people have scrutinised China's claims deeply | :12:44. | :12:46. | |
and there has been a rallying of support around the smaller players | :12:47. | :12:50. | |
in the dispute, which, if nothing else, has caused some embarrassment | :12:51. | :12:54. | |
for China. We have to leave there, but thank you. | :12:55. | :13:01. | |
Let's have a quick look at the numbers for you. The arrows tell the | :13:02. | :13:06. | |
story, a bitter Bob Riley, particularly in Asia. The McKay | :13:07. | :13:10. | |
doing well on the back of that Nintendo game, Pokemon go, winning | :13:11. | :13:18. | |
legions fans around the world will -- around the world. | :13:19. | :13:23. | |
Later this morning Bank of England governor Mark Carney appears | :13:24. | :13:25. | |
in front of MPs along with other members of | :13:26. | :13:27. | |
the Financial Stability Committee to answer questions | :13:28. | :13:35. | |
US stock-market investors sail into earning season this week, | :13:36. | :13:43. | |
wind at their backs, provided by the all-time | :13:44. | :13:45. | |
high on the S 500, but conditions may already be | :13:46. | :13:48. | |
worsening after the record close on Monday, metals giant Alcoa put | :13:49. | :13:50. | |
out the first major earnings release, and it was | :13:51. | :13:53. | |
They made $135 million in the second quarter, a decline on last year, | :13:54. | :13:57. | |
driven by falling aluminium prices and cutbacks. | :13:58. | :14:01. | |
Later in the week, JP Morgan and Citigroup, | :14:02. | :14:08. | |
along with others, will also release their latest accounts. | :14:09. | :14:14. | |
Investors will hope this view of the health of corporate America | :14:15. | :14:20. | |
shows more plain sailing ahead, though given the events | :14:21. | :14:22. | |
in the global economy, they would do well to prepare | :14:23. | :14:24. | |
Joining us is Cornelia Meyer, chief executive of Australian mining | :14:25. | :14:30. | |
Good to see you this morning. Actually, I am Chief of resources at | :14:31. | :14:47. | |
a business consultancy. Apologies. Let's talk about the global rally | :14:48. | :14:51. | |
that we are seeing at the moment. What would you say are the main | :14:52. | :14:56. | |
factors behind this, helping stocks rebound after the slumps we saw | :14:57. | :15:01. | |
after the Brexit vote? The first thing that we saw was, when we had | :15:02. | :15:07. | |
the jobs report that was better than anticipated last Friday, and on the | :15:08. | :15:11. | |
back of that it rallied, and then it rallied even further, everybody was | :15:12. | :15:15. | |
very unhappy with the uncertainty that we had in the UK, no | :15:16. | :15:22. | |
leadership, the opposition and Government in disarray, and now | :15:23. | :15:26. | |
finally we have leadership, a way forward, somebody who has stepped | :15:27. | :15:30. | |
up, a decisive lead in the says, OK, I will create an action plan, we | :15:31. | :15:38. | |
will move forward. I think people want certainty, people want to see | :15:39. | :15:42. | |
everyone move forward. I don't think business likes the idea of Brexit | :15:43. | :15:46. | |
but at least if you have Brexit, it is a fact now, let's get on, let's | :15:47. | :15:50. | |
have a road map and start negotiations. | :15:51. | :15:54. | |
Somebody who has been studying the ship is Mark Carney, he has had to | :15:55. | :16:01. | |
step in the breach and reassure the market. He will give evidence to MPs | :16:02. | :16:04. | |
ahead of a cut in interest rates on Thursday. How crucial with his | :16:05. | :16:10. | |
evidence be? Is very crucial in terms of reassuring the markets, but | :16:11. | :16:15. | |
they are reassured, because he was the steady pair of hands when nobody | :16:16. | :16:24. | |
else was there. They really -- a bit like Rudy Giuliani after 9/11. The | :16:25. | :16:32. | |
markets are addicted to low interest rates and constitute easing. If he | :16:33. | :16:35. | |
says interest rates go down, the markets will love it. I think at | :16:36. | :16:39. | |
some stage we will have to get up again with interest rates, because | :16:40. | :16:44. | |
when the next crisis comes, we will have no leaders left. We will watch | :16:45. | :16:49. | |
closely. You will be back to talk us through the papers later. | :16:50. | :16:51. | |
The sweet taste of success, but what's the secret | :16:52. | :16:54. | |
We'll meet the man behind chocolate brand Green Blacks. | :16:55. | :17:04. | |
He will tell as his secret to success. | :17:05. | :17:06. | |
You're with Business Live from BBC News. | :17:07. | :17:08. | |
It's been more than two weeks since the UK went to the polls | :17:09. | :17:11. | |
There are still plenty of unanswered questions about the impact | :17:12. | :17:16. | |
UK farming has strong links with the EU, how could that change? | :17:17. | :17:27. | |
Victoria Fritz is at the Great Yorkshire Show finding out. | :17:28. | :17:32. | |
Welcome to the Great Yorkshire Show, we are expecting 130,000 people | :17:33. | :17:35. | |
to come through these doors in the next three days, | :17:36. | :17:38. | |
there are 12,000 animals of all different varieties competing | :17:39. | :17:43. | |
This is a showcase of the best of British, but it is also a place | :17:44. | :17:49. | |
for farmers to discuss the next big issue for agriculture. | :17:50. | :17:54. | |
That is the vote from Britain to leave the EU, because the EU | :17:55. | :17:58. | |
is the biggest market for British agricultural exports, | :17:59. | :18:01. | |
about 63% of British exports went to the EU last year. | :18:02. | :18:09. | |
The NFU has described the vote as a political car crash, | :18:10. | :18:12. | |
For me, I believe there could be some good opportunities | :18:13. | :18:18. | |
The direct support received from the EU on many of our | :18:19. | :18:23. | |
At the end of the day the role for the NFU is to bring people | :18:24. | :18:33. | |
together and get a good result for British agriculture. | :18:34. | :18:36. | |
We have seen a lot of funding go into milk production in terms | :18:37. | :18:40. | |
of grants to support a lot of the infrastructure | :18:41. | :18:42. | |
and technology, are you not concerned that that disappears | :18:43. | :18:46. | |
At the end of the day the Government is going to have to realise that | :18:47. | :18:53. | |
food security is a bigger issue than it has ever been before, | :18:54. | :18:56. | |
At the end of the day, we have got to support ourselves. | :18:57. | :19:01. | |
We have a huge imbalance, so if we cannot turn that around,... | :19:02. | :19:09. | |
We need help from the Government as well. | :19:10. | :19:15. | |
About half of all farmers' incomes come from EU subsidies, | :19:16. | :19:18. | |
so there is a lot of uncertainty about the income in the future. | :19:19. | :19:23. | |
But a lot of opportunity and some optimism as well that the future | :19:24. | :19:26. | |
A quick story from the BBC business page, Asos confident for the 2016 | :19:27. | :19:43. | |
sales. After a frantic couple weeks in UK | :19:44. | :19:45. | |
politics, Theresa May is to become the next Prime Minster | :19:46. | :19:51. | |
of the United Kingdom. She's vowed to reduce | :19:52. | :19:53. | |
what she describes as "the growing More details on that as it develops, | :19:54. | :20:08. | |
and what happens over the next week will be pretty crucial. | :20:09. | :20:10. | |
In the wake of the financial crisis more and more of us have chosen | :20:11. | :20:14. | |
to start our own business, rather than work for someone else. | :20:15. | :20:16. | |
But what's the secret to success when starting your own firm? | :20:17. | :20:19. | |
Well, our next guest knows a thing or two about doing just that. | :20:20. | :20:22. | |
William Kendall's first business venture was in 1990 | :20:23. | :20:25. | |
with the New Covent Garden Soup Company. | :20:26. | :20:28. | |
He turned a company with a $2.6 million turnover into one | :20:29. | :20:34. | |
with nearly $260 million in less than ten years. | :20:35. | :20:39. | |
Next came the chocolate firm Green Blacks. | :20:40. | :20:42. | |
Founded in 1999, he helped grow the business until it | :20:43. | :20:45. | |
attracted the attention of confectionary giant Cadbury's. | :20:46. | :20:49. | |
His latest venture is Cawston Press, an independent soft-drinks company. | :20:50. | :20:56. | |
Last year, it sold five million cans in 12 countries, | :20:57. | :21:00. | |
All the more impressive in a sector that's facing falling sales. | :21:01. | :21:13. | |
You are smiling at those numbers, you are clearly quite pleased, | :21:14. | :21:22. | |
pretty impressive, in such a market. It is hard to know where to start, | :21:23. | :21:26. | |
but let's begin at the beginning, what got you into doing this? You | :21:27. | :21:32. | |
a business, turn it around and sell a business, turn it around and sell | :21:33. | :21:38. | |
it off. I grew up on a farm, making things happen very quickly is what | :21:39. | :21:42. | |
appeals, getting involved in small businesses, you can make a | :21:43. | :21:46. | |
difference. I tried working for a big company, it did not work for me, | :21:47. | :21:51. | |
it is too slow. Did you have a specific way that you work? Do you | :21:52. | :21:59. | |
identify things that are short-term and long-term? Or do you have a | :22:00. | :22:04. | |
different strategy? It is about teamwork. It is about finding good | :22:05. | :22:10. | |
people who do the work with you. All I can do is gather people around me. | :22:11. | :22:14. | |
On your own you are lost. Each business has been about having a | :22:15. | :22:20. | |
trends. All of the businesses are in trends. All of the businesses are in | :22:21. | :22:24. | |
areas that have interested me and my team-mates. Then you try and find a | :22:25. | :22:30. | |
business that is small and struggling but is in the right space | :22:31. | :22:33. | |
and then you have got a following wind, the market is moving in your | :22:34. | :22:40. | |
direction, the figures are exciting, but it is hardly surprising that | :22:41. | :22:43. | |
people want to drink soft drinks that contain less sugar and taste | :22:44. | :22:44. | |
delicious. One thing that you have delicious. One thing that you have | :22:45. | :22:49. | |
spoken about that I found interesting is regret overselling | :22:50. | :22:55. | |
Covent Garden soup and green and blacks to early, you called it a | :22:56. | :22:58. | |
British disease, selling something the moment it becomes successful. | :22:59. | :23:03. | |
You going to hang onto your current brand? It was more of a general | :23:04. | :23:06. | |
point, and each is this is different. Covent Garden had a | :23:07. | :23:12. | |
venture capital shareholder, so we were under pressure to sell. Green | :23:13. | :23:21. | |
Blacks, we had less pressure, but we still did. You often define success | :23:22. | :23:26. | |
by how much you sell the business for. Sometimes selling it is the | :23:27. | :23:34. | |
right thing to do for the business and for you, but think of the other | :23:35. | :23:42. | |
options beforehand. When we talk about Cawston Press, as we said in | :23:43. | :23:48. | |
the introduction, the industry is shrinking, because we are trying to | :23:49. | :23:51. | |
get healthier drinks, reducing sugar, so what was the appeal? I was | :23:52. | :23:55. | |
one of those people. You go to a one of those people. You go to a | :23:56. | :23:58. | |
party, there is a delicious white wine being presented, you think, I | :23:59. | :24:04. | |
am driving, or I don't want to drink to night, the alternative is warm | :24:05. | :24:10. | |
elderflower cordial or a glass of water, they might as well give you a | :24:11. | :24:14. | |
badge saying loser, so you drink wine even though you did not intend | :24:15. | :24:22. | |
like me who don't particularly like like me who don't particularly like | :24:23. | :24:23. | |
sugar, don't want to drink all the time, but we don't get the | :24:24. | :24:27. | |
alternatives, so it was obvious to me that there must be more demand | :24:28. | :24:29. | |
out there than was being satisfied out there than was being satisfied | :24:30. | :24:32. | |
majors. When you talk about the big majors. When you talk about the big | :24:33. | :24:37. | |
brands, how difficult is it being a niche brand and going up against the | :24:38. | :24:44. | |
likes of Coca-Cola and Pepsi? It is a covered market, they have the | :24:45. | :24:47. | |
economies of scale and marketing budget, so how difficult is it? It | :24:48. | :24:55. | |
is difficult. In some ways it is easier than the food brands, because | :24:56. | :24:57. | |
we are less dependent on the supermarkets. A lot more drinks sold | :24:58. | :25:02. | |
outside supermarkets, so you have more places to sell, but the | :25:03. | :25:04. | |
brands have got huge budgets and brands have got huge budgets and | :25:05. | :25:10. | |
they tried to close you out. Some places are no go areas, unless you | :25:11. | :25:14. | |
have got a big cheque-book. But there are plenty of places, there | :25:15. | :25:18. | |
are lots of people who want to drinks that are not loaded | :25:19. | :25:20. | |
sugar that taste good, and those are sugar that taste good, and those are | :25:21. | :25:25. | |
the people weighed you can sell to, those are the niche shops and | :25:26. | :25:29. | |
chains. He said one of the things you think you are good at is | :25:30. | :25:34. | |
spotting long term trends, and you think one trend that we can look | :25:35. | :25:38. | |
forward to is insects as food, is that the next big thing? I am | :25:39. | :25:44. | |
involved in another business that is looking at fly farming, not | :25:45. | :25:46. | |
necessarily for humans, but replacing protein. My daughter has | :25:47. | :25:51. | |
done her dissertation on it, she says it is a long-term trend. | :25:52. | :25:55. |