Browse content similar to 09/08/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Victoria Fritz | :00:14. | :00:15. | |
"Complicated and too expensive" - that's the verdict on having | :00:16. | :00:24. | |
This morning the UK's competition watchdog has set out its proposals | :00:25. | :00:28. | |
Live from London, that's our top story on Tuesday 9th August. | :00:29. | :00:43. | |
The UK's competition authority says it is "paving the way for an open | :00:44. | :00:46. | |
banking revolution" but are the big names on the high street listening? | :00:47. | :00:48. | |
We'll get an expert view on this latest package of measures. | :00:49. | :00:56. | |
Also in the programme - he's called the "rockstar", | :00:57. | :00:58. | |
but Raghuram Rajan has just overseen his last policy | :00:59. | :01:00. | |
meeting as head of the Indian central bank - | :01:01. | :01:06. | |
who will fill his shoes, and was it the right call to keep interest | :01:07. | :01:09. | |
And traders continue to enjoy the ride in Europe with all the main | :01:10. | :01:16. | |
markets headed higher again - we'll talk you through | :01:17. | :01:18. | |
And does booking directly with a hotel save you money? | :01:19. | :01:21. | |
We'll be talking to one firm which says in most cases it does. | :01:22. | :01:24. | |
He's the most decorated athlete in the history of the Olympic Games. | :01:25. | :01:27. | |
But Michael Phelps' personal life hasn't always been as golden | :01:28. | :01:30. | |
as his record in the pool - major sponsors dropping deals | :01:31. | :01:33. | |
He's looking to secure his corporate comeback. | :01:34. | :01:45. | |
Today we want to know your comeback stories - just use | :01:46. | :01:48. | |
They are calling it a revolution - but some argue in the UK | :01:49. | :01:57. | |
And that is what a UK regulator is trying to tackle and has unveiled | :01:58. | :02:07. | |
a package of new measures to boost competition in retail banking. | :02:08. | :02:10. | |
The Competition and Markets Authority is saying technology | :02:11. | :02:11. | |
is key in making significant change and provides an alternative | :02:12. | :02:14. | |
to the traditional high street banks. | :02:15. | :02:18. | |
And across the globe new FinTech start-ups are attracting huge | :02:19. | :02:21. | |
Last year more than $22-billion was invested globally | :02:22. | :02:35. | |
in financial technology - that's an increase of 75%. | :02:36. | :02:44. | |
Tthe vast majority of this was targeted at banking | :02:45. | :02:46. | |
Emerging markets - particularly in Asia - | :02:47. | :02:49. | |
are leading the way and are fast adopters of new banking | :02:50. | :02:52. | |
Here you can see monthly mobile payments in India | :02:53. | :02:55. | |
have almost quadrupled over the past two years. | :02:56. | :03:02. | |
But is banking really reaching its 'Uber moment' in other | :03:03. | :03:04. | |
It's a phrase dubbed by former Barclays chief | :03:05. | :03:07. | |
executive Antony Jenkins - who predicted technology | :03:08. | :03:09. | |
will unleash huge changes on the industry, including job | :03:10. | :03:11. | |
losses and the closure of a large number of high | :03:12. | :03:13. | |
With us on the programme is John Lyons, the retail | :03:14. | :03:18. | |
and commercial banking leader at PricewaterhouseCoopers. | :03:19. | :03:21. | |
I wonder whether you think the actions outlined in the report will | :03:22. | :03:27. | |
be enough to make banks deliver a better service for customers? It is | :03:28. | :03:32. | |
certainly good for consumers, the thought of your bank sending you a | :03:33. | :03:35. | |
text message to say you are about to go overdrawn and giving you a | :03:36. | :03:39. | |
greater period to deal with that, capped unauthorised monthly fees, | :03:40. | :03:42. | |
that is great. The question is whether it will drive more | :03:43. | :03:45. | |
competition or whether it is just a better deal for consumers, because | :03:46. | :03:50. | |
the report was aimed at growing competition in the banking market. | :03:51. | :03:55. | |
The solution, as Sally outlined, seems to rely on consumer technology | :03:56. | :03:58. | |
to put the balance of power literally in the hands of the | :03:59. | :04:02. | |
consumer, through things like smartphones and this new app they | :04:03. | :04:06. | |
have been talking about. Where does this leave people who are not as | :04:07. | :04:11. | |
tech savvy? The most exciting thing about this, what is called the API, | :04:12. | :04:19. | |
the system, it is opening up your banking records so you could have | :04:20. | :04:22. | |
one application irrespective of where you bank and make payments | :04:23. | :04:26. | |
from any of your bank accounts, no-one logging onto your mortgage, | :04:27. | :04:29. | |
then your current account, then you're other accounts, so that is | :04:30. | :04:34. | |
exciting. Take that a stage further, people providing new services to | :04:35. | :04:38. | |
look at the way you deal with your bank account, your transaction | :04:39. | :04:42. | |
history, and then scour the market to say which other products or | :04:43. | :04:48. | |
services might deliver that better or cheaper, then you start to drive | :04:49. | :04:51. | |
the competition. For me, exciting as it is opening up the API, but, to | :04:52. | :04:57. | |
your point, not everyone likes technology, so what about those | :04:58. | :05:01. | |
people who don't want to do online banking? The CMA dealt with that in | :05:02. | :05:06. | |
a way that they said they would create prompts for people, it may be | :05:07. | :05:11. | |
a statement stuff, it might be better for people who don't do | :05:12. | :05:16. | |
online banking, to drop you a note every now and then to say what you | :05:17. | :05:20. | |
are being charged and what is the competition, prompting you to look | :05:21. | :05:23. | |
at whether you could get a better deal elsewhere. How long do you | :05:24. | :05:27. | |
think it will take for that cultural shift to take place in this country? | :05:28. | :05:32. | |
In Africa, India, banking on a smart device is a lifeline, it is normal, | :05:33. | :05:37. | |
but we are a long way from that? We are a long way from that, we have | :05:38. | :05:43. | |
had the crisis from 2008 and banks in the Western world have been | :05:44. | :05:46. | |
struggling to get over that, let alone invest in new technologies. | :05:47. | :05:53. | |
Some other countries have jumped ahead, and when you look at where | :05:54. | :05:57. | |
the most successful challenger banks have been, the UK has a number of | :05:58. | :06:00. | |
them coming through but where they have gained traction really is | :06:01. | :06:04. | |
places like Poland and South Africa, where they are starting to compete | :06:05. | :06:09. | |
with the big boys. We have a large number of start-up banks in the UK | :06:10. | :06:13. | |
the important thing, they have got the important thing, they have got | :06:14. | :06:16. | |
new business models and lower costs, but they need to drive customer | :06:17. | :06:23. | |
volumes to make the business model work. Thank you for coming in and | :06:24. | :06:25. | |
taking us through those report findings. A lot more on that online | :06:26. | :06:27. | |
as ever. E-commerce giant Alibaba says it | :06:28. | :06:34. | |
wants to help companies keen According to a report by Bloomberg, | :06:35. | :06:37. | |
the Chinese firm aims to help foreign clients comply with local | :06:38. | :06:41. | |
regulations and sell their products. Alibaba says it aims to sign up 50 | :06:42. | :06:43. | |
partners over the next 12 months. Facebook has confirmed that it's | :06:44. | :06:47. | |
in the early stages of testing a wifi service with various | :06:48. | :06:51. | |
Indian internet companies. The service allows users to purchase | :06:52. | :06:56. | |
data from local providers A pilot version with a state-run | :06:57. | :06:58. | |
telecoms company has already been Donald Trump says he plans to "jump | :06:59. | :07:09. | |
start" the US economy by suspending new regulations | :07:10. | :07:15. | |
and cutting corporate taxes. During a speech in Detroit, | :07:16. | :07:18. | |
the billionaire businessman said he planned to end the "death" tax | :07:19. | :07:20. | |
levied on assets passed Let's look at some of the business | :07:21. | :07:37. | |
pages online, I want to point you to this story on our website about | :07:38. | :07:41. | |
China warning over the delay over Hinkley Point in Somerset. This is | :07:42. | :07:45. | |
the nuclear project that has been somewhat stymied. This is the | :07:46. | :07:52. | |
ambassador to the UK for China, writing in the Financial Times, | :07:53. | :07:55. | |
saying that the delay to approving the plant has brought the two | :07:56. | :07:59. | |
countries to a crucial historical juncture. He hinted that mutual | :08:00. | :08:04. | |
trust could be in jeopardy if the UK Government decided not to approve | :08:05. | :08:07. | |
the deal. Quite interesting because Theresa | :08:08. | :08:10. | |
May, the newly appointed Prime Minister, has put that decision on | :08:11. | :08:16. | |
review, which is why it has no longer got the green light. We will | :08:17. | :08:21. | |
give you -- keep you up to date with any development on that. | :08:22. | :08:22. | |
Let's head to India, where the country's central bank has | :08:23. | :08:24. | |
decided to keep interest rates on hold. | :08:25. | :08:26. | |
This is the the last policy decision to be made my the outgoing | :08:27. | :08:29. | |
Reserve Bank governor Raghuram Rajan. | :08:30. | :08:30. | |
It's not often that policymakers are described as rock stars - | :08:31. | :08:38. | |
Although I have heard of Mark Carney described as George Clooney said | :08:39. | :08:44. | |
things are changing! Mr Rajan will be a very | :08:45. | :08:48. | |
difficult act to follow. Sameer Hashmi joins us from outside | :08:49. | :08:50. | |
the Indian central bank. He is a popular figure, what happens | :08:51. | :09:02. | |
next? He is very popular but at the same | :09:03. | :09:05. | |
time very controversial. You described him as a rock star, never | :09:06. | :09:10. | |
a dull moment when he was in office here at India's Central Bank. He | :09:11. | :09:14. | |
still has 28 days left, the government is supposed to announce | :09:15. | :09:19. | |
the new man to take his place in the next few days, many names doing the | :09:20. | :09:22. | |
rounds... INAUDIBLE. | :09:23. | :09:33. | |
I do apologise, I think we have just lost Samir there but plenty more | :09:34. | :09:39. | |
available when it comes to India and the future of that economy, a huge | :09:40. | :09:43. | |
growth economy, and no change in the interest rate decision in that | :09:44. | :09:48. | |
country at the moment. Pesky gremlins! I have been speaking | :09:49. | :09:53. | |
to sum it all morning and have had three successful conversations with | :09:54. | :09:57. | |
him so far today. In India, to reiterate, the central bank has | :09:58. | :10:00. | |
decided to keep interest rates on hold today. Markets across the world | :10:01. | :10:04. | |
very much focused on central bank action, that is what is fuelling the | :10:05. | :10:08. | |
rally in Europe. We cannot show you the numbers right now but most of | :10:09. | :10:12. | |
the main market are headed higher again today. We will talk in more | :10:13. | :10:16. | |
detail about that in a moment but let's look at what is happening | :10:17. | :10:20. | |
stateside. Mickey Mouse and his colleagues will | :10:21. | :10:25. | |
be front and centre on Wall Street on Tuesday when Walt Disney reports | :10:26. | :10:29. | |
its earnings. Disney has had a few box office wins in the last quarter | :10:30. | :10:33. | |
the Jungle book. A drag on Disney the Jungle book. A drag on Disney | :10:34. | :10:38. | |
will be the declining subscribers for its sports network, ESPN. | :10:39. | :10:46. | |
Just how productive have American workers | :10:47. | :10:48. | |
We will find out a little later when the US Labor Department | :10:49. | :10:52. | |
releases data on the hourly output per worker. | :10:53. | :10:54. | |
And finally, Solar City will also be reporting earnings on Tuesday. | :10:55. | :10:58. | |
This is the company that electric car company Tesla has recently | :10:59. | :11:00. | |
Tesla shareholders still have to vote on the deal | :11:01. | :11:05. | |
Joining us is Simon Derrick, chief market strategist | :11:06. | :11:12. | |
Welcome to the programme. I have brought up the market state on the | :11:13. | :11:24. | |
tablet, we are seeing a real rally on equities across the world. The | :11:25. | :11:29. | |
FTSE higher today, led by the likes of legal and General, for example. | :11:30. | :11:36. | |
What is going on, why are equities racing higher? The FTSE was at 14 | :11:37. | :11:44. | |
month highs yesterday. The monetary and see has overwhelmed everything | :11:45. | :11:48. | |
else. A lot of the big risk events we were worried about this year, the | :11:49. | :11:53. | |
EU referendum has come and gone, Chinese currency devaluation, people | :11:54. | :11:56. | |
are no longer worried about that. Oil prices, people no longer | :11:57. | :12:00. | |
concerned about that. Central banks have overwhelmed all that with | :12:01. | :12:04. | |
easier Monetary Policy Committee will need to put that money to work | :12:05. | :12:08. | |
and low and behold we are here in a quiet, calm August and markets are | :12:09. | :12:12. | |
going up. There is relatively little for them to worry about until we get | :12:13. | :12:19. | |
maybe to the presidential election. Also we are all shopping, sitting in | :12:20. | :12:23. | |
a pub and drinking in the UK right now, the latest British Retail | :12:24. | :12:27. | |
Consortium numbers out of date. You say that as though it is a bad | :12:28. | :12:31. | |
thing! Is it because the sun is shining? There was that great | :12:32. | :12:37. | |
concern in the early aftermath of the referendum that people thought | :12:38. | :12:41. | |
we would get bad sets of numbers. The first real take on what happened | :12:42. | :12:45. | |
in July, pretty much on average from what we have seen in previous parts | :12:46. | :12:52. | |
of the year, and you are right it was food and in and fashion, | :12:53. | :12:55. | |
although there was a concern that a lot of it was heavily discounted. | :12:56. | :13:02. | |
Not big ticket items? No, Barclaycard's numbers suggested a | :13:03. | :13:04. | |
similar thing, we are out in restaurants and pubs. I would like | :13:05. | :13:09. | |
to think I have contributed to that somehow! You will next week in the | :13:10. | :13:11. | |
Lake District! Absolutely! Does booking directly | :13:12. | :13:16. | |
with a hotel save you money? We'll be talking to one firm | :13:17. | :13:21. | |
which says in most cases it does. You're with Business | :13:22. | :13:24. | |
Live from BBC News. Let's have a look at some | :13:25. | :13:26. | |
stories from around the UK. Two of Britain's biggest insurers | :13:27. | :13:32. | |
have announced double-digit Operating profits rose 10% | :13:33. | :13:34. | |
at Legal General and 18% at Standard Life, proving | :13:35. | :13:43. | |
to investors that they've so far managed to navigate the unchartered | :13:44. | :13:45. | |
waters after the Brexit vote. Theo Leggett joins us | :13:46. | :13:48. | |
in our Business Newsroom. Theo what's going right | :13:49. | :13:50. | |
for these companies? Pensions are big business for both | :13:51. | :14:00. | |
of these countries. Legal General, let's have a look, the share price. | :14:01. | :14:04. | |
It absolutely tanked in the wake of the Brexit vote but has been bumping | :14:05. | :14:09. | |
up since then and part of the reason is that areas of business have been | :14:10. | :14:13. | |
doing well despite the market's turmoil. According to Legal | :14:14. | :14:17. | |
General today, their pension annuities business saw sales of ?3.8 | :14:18. | :14:23. | |
billion over the last year, nearly triple the previous year. The | :14:24. | :14:26. | |
markets have not taken that so well, the share price dipped this morning, | :14:27. | :14:28. | |
which might be partly because a lot of the extra business is taking | :14:29. | :14:53. | |
on pensions business from final salary company schemes, basically | :14:54. | :14:56. | |
taking in some money but taking on some risk. In other areas, Legal | :14:57. | :14:58. | |
General and Standard Life have done well because people are rushing to | :14:59. | :15:00. | |
safety, putting their money into investment products which has | :15:01. | :15:02. | |
boosted the number of assets under administration that both of these | :15:03. | :15:04. | |
companies have got. What is the longer term outlook for | :15:05. | :15:06. | |
the insurers? Not too bad, Standard Life has made | :15:07. | :15:08. | |
a big thing about expanding its geographical coverage, it is excited | :15:09. | :15:11. | |
about India and China for example. These companies operate in the long | :15:12. | :15:13. | |
term, you might have short-term blips caused by things like the EU | :15:14. | :15:17. | |
referendum result, a lot of short-term market turmoil, but both | :15:18. | :15:21. | |
of these companies are focused around long-term investments and | :15:22. | :15:25. | |
you. -- thank you. | :15:26. | :15:33. | |
We have had some news from Morrisons and Ocado, this is the online | :15:34. | :15:42. | |
grocery firm, announcing changes to the long standing tie-up, they say | :15:43. | :15:49. | |
that Morrisons .com will be ruled out across one of the UK to pick | :15:50. | :15:52. | |
produce from its own stories through taking a major stake in their new | :15:53. | :15:57. | |
delivery Centre in South London, it'll be interesting to see what is | :15:58. | :16:03. | |
going on with the sharers a result. -- shares as a result. | :16:04. | :16:05. | |
That's the verdict on having a bank account in Britain. | :16:06. | :16:11. | |
This morning the UK's competition watchdog has set out its proposals | :16:12. | :16:14. | |
Plenty more available on the live web page. | :16:15. | :16:23. | |
A quick look at how the markets are faring. | :16:24. | :16:30. | |
They are higher, the main markets. Following the lead from Japan, the | :16:31. | :16:37. | |
story in Asia as well. We will keep a close eye on those for you. | :16:38. | :16:39. | |
Trying to find the cheapest hotel deal can be hard work. | :16:40. | :16:42. | |
One firm called Triptease says the average person visits 38 | :16:43. | :16:44. | |
Triptease works with hotels to compete with online booking | :16:45. | :16:52. | |
services like Booking.com and Hotels.com, which they say can | :16:53. | :17:01. | |
charge hoteliers a hefty commission on sales. | :17:02. | :17:03. | |
They're already working with over 8,000 hotels across the world, | :17:04. | :17:05. | |
It was set up here in the UK and co-founded by Charlie Osmond. | :17:06. | :17:12. | |
Key to its success is a price check widget which shows in real time | :17:13. | :17:16. | |
the prices of other online travel agencies, compared | :17:17. | :17:18. | |
The firm claims they can increase the number of direct | :17:19. | :17:24. | |
Charlie Osmond is with us - co-founder and CEO of Triptease. | :17:25. | :17:32. | |
Good morning. Can you explain in basic terms what exactly it is that | :17:33. | :17:43. | |
you offer hotels? This is a business to business company? Were helping | :17:44. | :17:48. | |
hotels with the biggest challenge, increasing more bookings directly on | :17:49. | :17:52. | |
their own website. The key issue for hotels at the moment is people | :17:53. | :17:56. | |
believe that prices are cheaper elsewhere through the online | :17:57. | :18:00. | |
intermediaries and when actually hotels often have the best rate. We | :18:01. | :18:05. | |
provide a price comparison that sits on the website and people on the | :18:06. | :18:09. | |
website can be shown that this price is equal to the market or better. I | :18:10. | :18:15. | |
understand the challenges hotels face because when you go online to | :18:16. | :18:19. | |
book a flight, you immediately by giving the hotel option and the car | :18:20. | :18:23. | |
option, everything is ready, it is very convenient. And it looks quite | :18:24. | :18:28. | |
cheap, you would not necessarily think about checking the Hotel | :18:29. | :18:33. | |
website? It turns out that two thirds of bookers will go to the | :18:34. | :18:37. | |
hotel website because they want more photos and information that they | :18:38. | :18:39. | |
will often come to the website and then leave because of this price | :18:40. | :18:46. | |
misunderstanding and what has been fascinating is that hotels around | :18:47. | :18:49. | |
the world has stood up for themselves and said, it is time for | :18:50. | :18:53. | |
us to be able to charge people cheaper prices directly and to get | :18:54. | :18:58. | |
better services. Whether that is the Hilton or Marriot or Continental | :18:59. | :19:01. | |
hotels, they are offering real incentives for direct burgers and we | :19:02. | :19:05. | |
think this will change consumer behaviour. Does begin directly | :19:06. | :19:11. | |
always save money? Not always, we have just done ?200 million cheques | :19:12. | :19:16. | |
over the last few months and the hotel is often cheaper, with online | :19:17. | :19:23. | |
brokers around 20% at the time. It is good to shop around and that is | :19:24. | :19:27. | |
something we're trying to do, increase transparency. You offer | :19:28. | :19:31. | |
this service of driving traffic towards their website but you also | :19:32. | :19:35. | |
offer a lot of analysis that you have gathered with this research? | :19:36. | :19:41. | |
Yes, when we started, we firstly try to help one hotel at the time but we | :19:42. | :19:47. | |
have got scale, over 10,000 Hotel properties and that allows us to | :19:48. | :19:49. | |
analyse the way people search and what they are looking for and use | :19:50. | :19:54. | |
that for best practice to help hotels individually. Why decide to | :19:55. | :19:58. | |
do this? You set of this company some years ago, why did you decide | :19:59. | :20:03. | |
to do this? This is my third start-up, I always promised I would | :20:04. | :20:07. | |
never do that again! I was going through what I always find is a very | :20:08. | :20:11. | |
painful annual experience of booking the family holiday and I got so | :20:12. | :20:16. | |
frustrated, the amount of time that I was wasting planning a trip and I | :20:17. | :20:19. | |
felt there has to be a better way, improvements that can be made to the | :20:20. | :20:23. | |
online process so we launched into this. Why call this Triptease? This | :20:24. | :20:29. | |
is likely to put women in the hotel industry off? Len Webber say that we | :20:30. | :20:35. | |
find the opposite. It comes down to the fact that every year, hundreds | :20:36. | :20:39. | |
of thousands of companies are launched and we want to be in the | :20:40. | :20:45. | |
top zero. 1% and you must stand out, if you are bland people will forget | :20:46. | :20:51. | |
you. If it means pushing risks, but fundamentally, if you're not | :20:52. | :20:54. | |
prepared to do that, you will end up being a company we do not talk | :20:55. | :21:00. | |
about. The first two did not work? What is your top tip for somebody | :21:01. | :21:05. | |
trying to start something? My first two start-ups did very well but with | :21:06. | :21:09. | |
Triptease we two different things did not work out. A lot of people | :21:10. | :21:16. | |
are working at their desks and it might be worried about what you say! | :21:17. | :21:20. | |
What we learned with Triptease is even though we knew we wanted to go | :21:21. | :21:24. | |
to the market and there was an opportunity, we at a very lean | :21:25. | :21:30. | |
start-up approach, constantly iterating, trying one thing that did | :21:31. | :21:36. | |
not work, trying another, trying the third, that did work. You have to | :21:37. | :21:39. | |
constantly keep trying things and testing. And the nice thing is | :21:40. | :21:44. | |
today, you can inexpensively try something and see if it works and | :21:45. | :21:47. | |
then move on. Great, Charlie, thank you very much. | :21:48. | :21:50. | |
In a moment we'll take a look through the Business Pages but first | :21:51. | :21:53. | |
here's a quick reminder of how to get in touch with us. | :21:54. | :21:57. | |
The Business Live pages where you can stay ahead with all of the | :21:58. | :22:02. | |
breaking business news. We will keep you up-to-date with the latest | :22:03. | :22:06. | |
details, with insight and analysis from the BBC's team around the | :22:07. | :22:11. | |
world. And we want to hear from you also. Get involved on the BBC | :22:12. | :22:19. | |
Business Live web page... And on Twitter... And you can find us on | :22:20. | :22:26. | |
Facebook. Business Live, on TV and online, whenever you need to know. | :22:27. | :22:35. | |
Simon is back. This story is in York times, about Donald Trump, he | :22:36. | :22:46. | |
stocking tax and very much his economics and we have been | :22:47. | :22:50. | |
discussing, favouring pinstripes over blue-collar workers? For a | :22:51. | :22:53. | |
candidate supposedly in favour of the working class, he clearly has a | :22:54. | :23:01. | |
soft spot for the 1%? Trying to win back the Republican core voters, | :23:02. | :23:04. | |
this is caught Republican economics but in terms of the message, it is | :23:05. | :23:08. | |
quite smart because here he reveals, sending a message to Republican | :23:09. | :23:15. | |
voters and wealthy voters, but by being in Detroit he has sent a clear | :23:16. | :23:20. | |
message to blue-collar workers and strong message about International | :23:21. | :23:24. | |
Trade as well. Talking about trade agreements, going after people like | :23:25. | :23:28. | |
Japan and China, but he has called currency manipulators in the past | :23:29. | :23:32. | |
but there is something for everybody. Maybe that is the wise | :23:33. | :23:38. | |
thing about what he is doing. Let us talk about Michael Phelps, the | :23:39. | :23:46. | |
American swimmer who got his 19th medal at the American Olympics. This | :23:47. | :23:50. | |
article in the Wall Street Journal talks about how he is reinventing | :23:51. | :23:55. | |
himself? They say there is no second chances and I were struggling to | :23:56. | :23:58. | |
think of other American athletes that have come back after some of | :23:59. | :24:03. | |
the setbacks that he has had. I think maybe Tiger Woods is the | :24:04. | :24:08. | |
closest I can think of. He is trying to get fresh sponsorship and at the | :24:09. | :24:15. | |
moment he is the face of Amica, and beef jerky and hot towels! That go | :24:16. | :24:28. | |
hot tubs. It is interesting. We had this conversation about Maria | :24:29. | :24:32. | |
Sharapova, she was given a two-year ban for being involved in | :24:33. | :24:36. | |
international tennis so she is in that in between world and there is a | :24:37. | :24:41. | |
way back, it would seem, if he is successful? This is his last | :24:42. | :24:47. | |
Olympics, will he come back? If you are a sponsor, looking for the next | :24:48. | :24:52. | |
eight years, able find a better candidate than Michael Phelps. Given | :24:53. | :24:56. | |
his past history and his future in terms of sport. One last article, | :24:57. | :25:04. | |
this made us giggle! The New York Times, America is completely | :25:05. | :25:08. | |
flummoxed by Chip and pin, they don't like the noise, the beeping, | :25:09. | :25:13. | |
they say it is like the sign of failure? First world problems! -- | :25:14. | :25:24. | |
sound of. Get over yourself! I love it, it is fantastic. I love being | :25:25. | :25:31. | |
able to use contactless, I use it on transport, in shops, restaurants. It | :25:32. | :25:36. | |
is so fast! You would think the biggest economy in the world would | :25:37. | :25:39. | |
love this? Perhaps it is the fact that if you're in the midwest, | :25:40. | :25:44. | |
perhaps there is less security concerns, perhaps some shops do not | :25:45. | :25:49. | |
invest in it. But it is fantastic! I love it! Thank you so much and enjoy | :25:50. | :25:52. | |
your holiday! | :25:53. | :25:54. |