Browse content similar to 15/08/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Aaron Heslehurst | :00:00. | :00:07. | |
Stagnation in the world's third largest economy - | :00:08. | :00:12. | |
but what can be done to get Japan moving again? | :00:13. | :00:16. | |
Live from London, that's our top story. | :00:17. | :00:35. | |
Japan's latest growth numbers are weaker than expected - | :00:36. | :00:41. | |
the Prime Minister's economic plan is put into question once again. | :00:42. | :00:46. | |
Middle-class binge drinkers are responsible for a 'boom' | :00:47. | :00:52. | |
And we will show you the markets, Asia is having a nice time at the | :00:53. | :01:08. | |
moment. Still camped in those one year highs. | :01:09. | :01:10. | |
We'll be talking to a woman who is living proof that an abrupt | :01:11. | :01:13. | |
switch in career can be a recipe for success. | :01:14. | :01:16. | |
The boss of Propercorn will be here to explain how she's making | :01:17. | :01:20. | |
Today we want to know when it's time for a snack - | :01:21. | :01:27. | |
We will talk about the middle-class binge drinking... Sally cannot help | :01:28. | :01:52. | |
herself! We start with Japan, | :01:53. | :01:54. | |
where it's been another very tough quarter for the country's economy - | :01:55. | :01:57. | |
it saw a smidgen of growth in the three months to the end | :01:58. | :02:01. | |
of June, leading to some economists questioning the Prime Minister's | :02:02. | :02:06. | |
aggressive economic policies Let's look at the steps | :02:07. | :02:09. | |
the government has taken The growth figures were weaker | :02:10. | :02:15. | |
than expected at 0.2% - most economists predicted growth | :02:16. | :02:26. | |
would be something closer to 0.7%. The central bank has flooded | :02:27. | :02:33. | |
the financial system Government spending has been boosted | :02:34. | :02:37. | |
to try to stimulate growth. Earlier this month Shinzo Abe | :02:38. | :02:48. | |
unveiled a stimulus package the government valued | :02:49. | :02:56. | |
at $274 billion. And deflation remains | :02:57. | :02:59. | |
a huge problem. Exports are also under pressure due | :03:00. | :03:10. | |
to the strong yen. That is seen as a safe haven around | :03:11. | :03:19. | |
the world so when investors worry they put money into the yen and that | :03:20. | :03:25. | |
pushes the value up which makes Japanese manufactured stuff more | :03:26. | :03:28. | |
expensive to buy around the world, so we buy less of it and that hits | :03:29. | :03:30. | |
the bottom line in Japan. Jonathan Allum, strategist at SMBC | :03:31. | :03:33. | |
Nikko Capital Markets, is with me. I feel like we have been talking | :03:34. | :03:46. | |
about this for years. Things have not improve significantly despite | :03:47. | :03:49. | |
the efforts of the Japanese government? That there's a fair | :03:50. | :03:53. | |
point although we must be wary, these are preliminary GDP figures | :03:54. | :03:57. | |
which are revised extensively, the last quarter has been revised up | :03:58. | :04:03. | |
marginally, particularly the corporate capital expenditure number | :04:04. | :04:05. | |
which is surprisingly negative in this and that will be revised up | :04:06. | :04:10. | |
with the subsequent survey so we should not be definitive. The | :04:11. | :04:15. | |
numbers are certainly below expectation and they have shown | :04:16. | :04:18. | |
little to no growth and that is a fair point. We have been in this | :04:19. | :04:23. | |
place for a long time, Shinzo Abe has been in power for a significant | :04:24. | :04:26. | |
amount of time and many have argued in the past prior to his Premiership | :04:27. | :04:31. | |
that part of the problem was the political change all the time, the | :04:32. | :04:35. | |
leader could not push through difficult decisions and change but | :04:36. | :04:40. | |
Abenomics has been in place for a while, in power for some time, when | :04:41. | :04:46. | |
will we see real change? He has been in power for some time and if you | :04:47. | :04:49. | |
look at the famous three arrows which he talked about, the first was | :04:50. | :04:54. | |
monitoring all of the that has happened, Japanese inflation numbers | :04:55. | :04:58. | |
are not spectacular but if you look at the GDP, it is positive. The | :04:59. | :05:04. | |
trend has been positive. Slower than desired but Japanese inflation has | :05:05. | :05:07. | |
risen at a time when in other countries that has fallen. The real | :05:08. | :05:11. | |
problem is that fiscal policy and rather than being stimulate his it | :05:12. | :05:16. | |
has been contractionary because of the increase in the consumption tax | :05:17. | :05:20. | |
and what we are not seeing in these figures is a change in policy with | :05:21. | :05:27. | |
the consumption tax increase scheduled for 2017 kicked into the | :05:28. | :05:32. | |
long grass and becomes expansionary. Not as much as the numbers you say, | :05:33. | :05:37. | |
it is a bit like Gordon Brown, they have a tendency to re-announce | :05:38. | :05:41. | |
more than once for a higher headline more than once for a higher headline | :05:42. | :05:45. | |
number but we have seen a change in fiscal policy but that is too late | :05:46. | :05:48. | |
for these numbers and that is a question for next year. They are | :05:49. | :05:53. | |
telling me briefly but this is not a brief question, a lot of experts say | :05:54. | :05:59. | |
the problem with Japan as they will not change, you can throw the | :06:00. | :06:02. | |
kitchen sink at the Japanese economy but until you do structural economic | :06:03. | :06:07. | |
reform nothing will change. Japan has an ageing population and is not | :06:08. | :06:11. | |
really like immigration and they haven't got workers, workers who | :06:12. | :06:14. | |
must put into the economy to pay for the old people? The success of | :06:15. | :06:21. | |
Abenomics is the increase in employment, particularly female | :06:22. | :06:24. | |
employment and until the last few months, we have seen an increase in | :06:25. | :06:27. | |
male unemployment also but overall Japan has added more than 1 million | :06:28. | :06:32. | |
jobs over the last three years so that is, it is not dramatic headline | :06:33. | :06:37. | |
stuff but it has been a reverse of the previous trend. Particularly | :06:38. | :06:42. | |
female employment. But you're right, the proposition is contracting, the | :06:43. | :06:46. | |
fertility rate is rising and that is not necessarily unknown thing but | :06:47. | :06:52. | |
that is. The standards of age is very respectable but that is longer | :06:53. | :06:58. | |
term. We will talk about this again! It is good to see you. Another 25 | :06:59. | :07:05. | |
years! Don't live that long! We have more positive news! | :07:06. | :07:08. | |
The International Monetary Fund has urged China to reduce its reliance | :07:09. | :07:12. | |
China's non-financial state-owned enterprises accounted for half | :07:13. | :07:15. | |
of bank credit but only a fifth of industrial | :07:16. | :07:19. | |
The report reflected views provided by Chinese policymakers who agreed | :07:20. | :07:25. | |
with the IMF that corporate debt had increased "excessively". | :07:26. | :07:29. | |
London properties are taking longer to sell this month, | :07:30. | :07:34. | |
And of course it is uncertainty over what Brexit will bring | :07:35. | :07:40. | |
On average sellers cut prices by 3.6% from July to $1 million. | :07:41. | :07:47. | |
It leaves London up 2.1% on the year, the slowest | :07:48. | :07:50. | |
It matters if you want to sell your house. Let us look at the Business | :07:51. | :08:07. | |
Live page. The middle of August and you can tell that there is not a lot | :08:08. | :08:16. | |
of corporate news. It is very quiet and people are on holiday but the | :08:17. | :08:21. | |
boss of delivery was on BBC Radio 4 this morning, the radio programme. | :08:22. | :08:28. | |
-- Deliveroo- basically being grilled about what delivery workers | :08:29. | :08:33. | |
are being paid. You see them on their bicycles and many other cities | :08:34. | :08:36. | |
across the UK and the boss of Deliveroo says they are paid | :08:37. | :08:40. | |
perfectly well and he is talking about proposals to changes in what | :08:41. | :08:47. | |
they are paid. 3.75 for every delivery, that is not a lot. In | :08:48. | :08:54. | |
Singapore there are separating the gold medal in the Olympics! Did you | :08:55. | :09:07. | |
see that? Amazing! But consumer confidence has dropped to its lowest | :09:08. | :09:11. | |
level for seven years. You cannot say that is Brexit over there! | :09:12. | :09:16. | |
Despite the jubilation, there is pessimism, the consumer index said | :09:17. | :09:30. | |
Singapore is most pessimistic about the economy in seven years. They | :09:31. | :09:35. | |
have become more gloomy about their quality of life, their income and | :09:36. | :09:41. | |
also job security and the index fell to 33.6 in the first half of the | :09:42. | :09:46. | |
year compared to 44.3 for the previous six months and the last | :09:47. | :09:51. | |
time the index was that low was June 2009 and that was at the height of | :09:52. | :09:56. | |
the global recession. When the economy in Singapore contracted for | :09:57. | :10:00. | |
four straight quarters. This dip in confidence is reflected in economic | :10:01. | :10:06. | |
data. Analysts are forecasting the Singapore economy to grow by 1.8%. | :10:07. | :10:11. | |
This year. That is the slowest pace since 2009. Hopefully it will get | :10:12. | :10:16. | |
some or all winners and have something more to celebrate over | :10:17. | :10:25. | |
here. Good on you! As one Australian says to the other. We come about | :10:26. | :10:30. | |
ninth place on the chart! Let us look at the markets... | :10:31. | :10:32. | |
Asian shares set up camp at one-year peaks today as a rally in Chinese | :10:33. | :10:36. | |
stocks helped offset news that Japan's economic growth had ground | :10:37. | :10:39. | |
Oil prices extended their latest rally. | :10:40. | :10:50. | |
In Europe, markets also digesting not great news | :10:51. | :10:54. | |
US retail sales were unexpectedly flat in July - | :10:55. | :11:02. | |
Americans cut back on purchases of clothing and other goods. | :11:03. | :11:07. | |
Other data showed producer prices recorded their biggest drop | :11:08. | :11:09. | |
But talking of the US - let's find out what will be making | :11:10. | :11:25. | |
the headlines on that side of the Atlantic. | :11:26. | :11:27. | |
Final bids for the digital media company gawker are due ahead of the | :11:28. | :11:36. | |
auction on Tuesday, a banker managing the bankruptcy process and | :11:37. | :11:41. | |
sales said as 20 parties could make offers. Gawker recently lost the | :11:42. | :11:46. | |
invasion of privacy lawsuit brought by the former wrestler Hulk Hogan | :11:47. | :11:52. | |
and was ordered to pay damages of $130 million. Gawker is appealing | :11:53. | :11:56. | |
the decision and filing from bankruptcy to continue operating and | :11:57. | :11:59. | |
paying its staff while it seeks to overturn the lawsuit. In election | :12:00. | :12:05. | |
years, the Vice President Joe Biden will campaign with Democratic | :12:06. | :12:07. | |
Presidential nominee Hillary Clinton in Pennsylvania on Monday. They will | :12:08. | :12:14. | |
focus on economic issues, Republican Presidential nominee Donald Trump | :12:15. | :12:18. | |
begins fighting a lawsuit in Florida over denying refunds on Jews to | :12:19. | :12:22. | |
members at the John Nash on a golf course. -- dues. | :12:23. | :12:27. | |
We have Justin Urquhart-Stewart from Seven Investment Management. | :12:28. | :12:33. | |
Happy new week! And you are not on holiday? I was working last week. | :12:34. | :12:47. | |
We're not even going there! Working with a trowel?! US inflation this | :12:48. | :12:54. | |
big? This is crucial, everybody depends on the central bank at the | :12:55. | :12:58. | |
moment, it is pumping money into the system, that is what we saw from the | :12:59. | :13:02. | |
Bank of England and one of the key targets is about inflation, keep it | :13:03. | :13:08. | |
low. Look at these figures, the core inflation in the UK is about 1.4%, | :13:09. | :13:14. | |
commodity prices are rising, oil, there is inflation in the system to | :13:15. | :13:19. | |
the question over the next few months is, will central bankers | :13:20. | :13:24. | |
focus on inflation in two years? You might want to put up the rates will | :13:25. | :13:28. | |
you worry about growth in the economy, still weak, this is a big | :13:29. | :13:33. | |
decision and my prediction is it will focus on growth and not | :13:34. | :13:37. | |
inflation. Those figures will be crucial on Wednesday, Thursday is | :13:38. | :13:42. | |
consumer confidence figures and by the end of this week we should have | :13:43. | :13:47. | |
a better sense of how the economy is faring post Brexit? And the way to | :13:48. | :13:51. | |
look at this is by looking at the bigger picture, the global economy | :13:52. | :13:55. | |
is growing at just over 3% every year and the headline say it is | :13:56. | :13:58. | |
getting slower, that is the long-term average, that is OK, US | :13:59. | :14:04. | |
figures are not that bad, Friday was not strong but OK, Eurozone has been | :14:05. | :14:08. | |
slower but still OK and as we have seen in the Far East and emerging | :14:09. | :14:13. | |
economies, they are also picking up. The UK has its own issues with | :14:14. | :14:16. | |
Brexit but we don't want to talk ourselves into this, the rest of the | :14:17. | :14:18. | |
world is doing well. Join the dots. I'm glad that you have said that, we | :14:19. | :14:27. | |
don't want to talk ourselves into recession. Digging fossils...? We | :14:28. | :14:33. | |
don't anybody to get the wrong impression. The Romans had a single | :14:34. | :14:38. | |
currency. They were talking about gardening in my ear, Norman | :14:39. | :14:43. | |
gardening... The man is digging up bones! LAUGHTER | :14:44. | :14:46. | |
Coins! Still to come, Monday, so there is a fair chance that some of | :14:47. | :14:52. | |
us... Dreaming of chucking in the nine to five job, and starting your | :14:53. | :14:56. | |
own adventure. Stay tuned, you can meet someone who did just that, and | :14:57. | :14:58. | |
made a big success. Industries and businesses | :14:59. | :15:14. | |
across the UK are considering life after Brexit and, from today, | :15:15. | :15:17. | |
farmers will have their say. The National Farmers Union | :15:18. | :15:19. | |
is launching a consultation on the future of | :15:20. | :15:21. | |
post-Brexit farming. Joining us to discuss | :15:22. | :15:23. | |
the topic is the president Welcome to the programme, great to | :15:24. | :15:41. | |
have you with us. Good morning. In terms of farming, most farmers, | :15:42. | :15:46. | |
would they be remain of with baby in favour of Brexit? The debate around | :15:47. | :15:51. | |
the referendum, now we look forward, so we will be consulting with 48,000 | :15:52. | :15:55. | |
farm members over the next six weeks. Trade deals, access to | :15:56. | :16:07. | |
labour, they will all be so important, post-20 20. We will put | :16:08. | :16:11. | |
together a policy document after hearing the views, and then we will | :16:12. | :16:15. | |
ask for a framework which will deliver a domestic agricultural | :16:16. | :16:17. | |
policy which is fit for purpose and will lead to a proper competitive | :16:18. | :16:26. | |
farming industry post-20 20. -- post 2020. When I spoke with you earlier, | :16:27. | :16:30. | |
you said that your members were mixed in terms of how they would | :16:31. | :16:33. | |
vote, regardless of that, all farmers in UK received a nice | :16:34. | :16:40. | |
subsidy from the EU at the moment. Assuming that part of your | :16:41. | :16:46. | |
consultation will be that that must be replaced. What we have said at | :16:47. | :16:53. | |
the NFU, when the policies designed post 2020, we must not be | :16:54. | :16:56. | |
disadvantaged to competitors in the rest of Europe, we still have to | :16:57. | :17:00. | |
compete with Irish, southern Irish, French, Danish farmers. We must not | :17:01. | :17:06. | |
be disadvantaged if we are going to build that competitive, efficient, | :17:07. | :17:10. | |
profitable industry going forward. We know that our self-sufficiency in | :17:11. | :17:14. | |
food has fallen dramatically over the last 20 years, we must be | :17:15. | :17:19. | |
ambitious, we must reverse the trend, because British consumers | :17:20. | :17:21. | |
want more British food on their plates. Unfortunately, we have run | :17:22. | :17:27. | |
out of time, but president of the national farmers union, we | :17:28. | :17:29. | |
appreciate your comments, and we will keep an eye on the paper when | :17:30. | :17:31. | |
it comes out. Back in the headlines, Peppa Pig, there was the failed ITV | :17:32. | :17:40. | |
takeover, some say that it is going to be the target of private equity, | :17:41. | :17:46. | |
a lot of people pouring into it, it is called Entertainment One. Top | :17:47. | :17:52. | |
story: Japan, the world is third-largest economy, grew this | :17:53. | :17:58. | |
much. 0.2 of a percent. We called it a smidgen! | :17:59. | :18:10. | |
If you are in Japan, watching, can you tell us how you say kitchen | :18:11. | :18:16. | |
sink. A quick look at the financial markets on a new trading week, they | :18:17. | :18:21. | |
are all up slightly, nothing to shout about, London down just a | :18:22. | :18:31. | |
point, 0.1 of a percent. -- zero .01 of a percent. Most traders in the | :18:32. | :18:37. | |
City of London and other financial markets around the world, they are | :18:38. | :18:42. | |
all on the French Riviera, on their boats, the big flashy ones. Talking | :18:43. | :18:47. | |
of big flashy boats, maybe one day! This is the stuff of a Monday | :18:48. | :18:51. | |
daydream, chucking in the job, marching to the boss 's office, tell | :18:52. | :18:55. | |
him or her that you have had enough of slaving for someone else and that | :18:56. | :18:58. | |
he will be starting your own business. For most of us, it remains | :18:59. | :19:11. | |
a fantasy. But our next guest shows how an abrupt career change really | :19:12. | :19:17. | |
can pay off, in spades. Cassandra Stavrou quit her job in 2009 and | :19:18. | :19:19. | |
launched Propercorn Popcorn two years later at the height of the | :19:20. | :19:24. | |
economic crisis. Good timing(!) But she was entering a market growing in | :19:25. | :19:27. | |
popularity, healthy snacks. In just five years, Cassandra and her | :19:28. | :19:36. | |
business partner have managed to establish a company which sells | :19:37. | :19:38. | |
three million packs of popcorn a month, generating almost 13 million | :19:39. | :19:40. | |
dollars in sales a year. Available in ten countries across Europe, the | :19:41. | :19:42. | |
business has emerged as the fastest non-tech start-up in the UK. That is | :19:43. | :19:49. | |
right. You have hurt, in the house with us, Cassandra, the first | :19:50. | :19:55. | |
question, why popcorn? You have said it, it is a healthy snack, | :19:56. | :20:01. | |
gluten-free, played into all of the big... This is very noisy! If you | :20:02. | :20:06. | |
don't mind me saying. Everybody understands what popcorn is, we all | :20:07. | :20:10. | |
have that nostalgia, this is about doing it in a slightly different | :20:11. | :20:16. | |
way, more healthy, it is an amazing journey. Popcorn is very popular in | :20:17. | :20:21. | |
our fire sale, we had it last night. I have three small boys. They want | :20:22. | :20:26. | |
to snack a lot. -- in our household. When I go in the supermarket, I | :20:27. | :20:32. | |
don't necessarily pick yours, I will look at price... I shan't take it | :20:33. | :20:37. | |
personally! Price is important, there are so many options. Crowded | :20:38. | :20:41. | |
market. It is, what is exciting about the story is, from a standing | :20:42. | :20:45. | |
start we have really clicked on ahead of the competition, | :20:46. | :20:51. | |
fastest-growing brand in the UK, that is a testament to the | :20:52. | :20:55. | |
packaging, the fact that we are healthier, and... I did not know | :20:56. | :20:59. | |
that you were healthier, that is important to me, I am looking for | :21:00. | :21:04. | |
healthier options. There is the calorie count on the front, 130 | :21:05. | :21:11. | |
calories, and also, increasingly customers becoming aware of popcorn | :21:12. | :21:16. | |
away from cinema, away from film and the buttery sugary versions. This is | :21:17. | :21:25. | |
completely natural. Cassandra, we have this fun about saying it is a | :21:26. | :21:29. | |
Monday and we want to quit our jobs, did you have this idea before you | :21:30. | :21:33. | |
quit your job, did you hate your job and wants to quit? This is not easy | :21:34. | :21:37. | |
to say. Whatever you are making, not easy to do. It took two years to get | :21:38. | :21:43. | |
it off the ground, and I think, perhaps naively I quit my job as | :21:44. | :21:47. | |
soon as I had the idea, it is was passionate about it! Trying to get a | :21:48. | :21:52. | |
business of the ground, it takes a lot of hard work, being quite | :21:53. | :21:56. | |
resourceful, the initial samples I made in a cement mixer! Nobody in | :21:57. | :22:01. | |
the UK could season popcorn in the way that I wanted it to be seasoned. | :22:02. | :22:06. | |
Don't let that put you off! LAUGHTER Not anymore they are not! We | :22:07. | :22:11. | |
fashioned it with steel, on top gear, I saw the way that they spray | :22:12. | :22:15. | |
paint cars, they use a special Mr, and so we ordered a kit off-line. I | :22:16. | :22:20. | |
was making it very crudely, now we have a shiny all singing all dancing | :22:21. | :22:27. | |
line. -- Mr. And all health and all safety as well, I am sure! You have | :22:28. | :22:32. | |
got to be prepared to take a punt, and really go for it. How do you | :22:33. | :22:37. | |
fund it, you have got to have a lot of resources yourself, how did you | :22:38. | :22:44. | |
get people involved? I was lucky that my family lived in London, I | :22:45. | :22:50. | |
moved back home and I did jobs, walking dogs, painting, whatever I | :22:51. | :22:54. | |
could get my hands on, to fund the initial first steps. And then we got | :22:55. | :22:59. | |
a little bit of seed investment from my business partner's family, to | :23:00. | :23:03. | |
launch, but it really was just a case of going for it. Now you are in | :23:04. | :23:08. | |
most of the main supermarkets in the UK, we have talked about your | :23:09. | :23:12. | |
massive sales numbers, how did you manage to get it into the main | :23:13. | :23:18. | |
marketplace? No set recipe, it is a case of calling up and turning up to | :23:19. | :23:22. | |
everywhere you possibly can, leaving no stone unturned, at Tesco we are | :23:23. | :23:27. | |
now the number six bestselling snack in their whole category. If you had | :23:28. | :23:32. | |
told me that when we first launched, it would have surprised me. It is a | :23:33. | :23:39. | |
testament to the traction of the product, and how people find it. | :23:40. | :23:43. | |
They love it, thank you very much joining us. They are going to watch | :23:44. | :23:49. | |
a tape of how to contact us, you told me you are great at catching | :23:50. | :23:53. | |
popcorn, come on, near we go... ! LAUGHTER | :23:54. | :23:59. | |
Stay ahead with all the days breaking news, we keep you | :24:00. | :24:04. | |
up-to-date with all the latest details with insight and analysis | :24:05. | :24:10. | |
for the BBC's team of editors around the world, and we want to hear from | :24:11. | :24:13. | |
you as well. Get involved on the web page. On Twitter, and also on | :24:14. | :24:20. | |
Facebook. Just in his back with us, we have | :24:21. | :24:33. | |
talked popcorn, now we are talking about a story in the Telegraph, | :24:34. | :24:38. | |
middle-class binge drinking creates boom in sales of giant bottles of | :24:39. | :24:41. | |
bubbly, this is not my own consumption! Talk us through what | :24:42. | :24:46. | |
this story is about. It is fascinating, not just buying more | :24:47. | :24:51. | |
bubbly, but buying a big butch bottle... Showing off. The figures | :24:52. | :24:59. | |
here go back to 2014, just under 300,000 Magnas, now it is over | :25:00. | :25:05. | |
700,000! We have suddenly... Showing off my thing. -- magnas. but you can | :25:06. | :25:15. | |
have a nebuchadnezzar, 15 litres at one sitting, if you so wish! -- | :25:16. | :25:24. | |
magnums. not so much champagne but per second, they have opened it up | :25:25. | :25:30. | |
to large serve bottles. in a word, your favourite snack? caviar, dare i | :25:31. | :25:36. | |
say that? laughter just in! caviar! Some people say | :25:37. | :25:45. | |
please, fruit, chips... Joe says his favourite is mini popcorn! There you | :25:46. | :25:49. | |
go. Just in, thank you. That was businesslike, have a very good day, | :25:50. | :25:53. | |
we will see you tomorrow, thank you very much. | :25:54. | :26:12. | |
Thus far the summer has misfired, a bit stop and start, now | :26:13. | :26:14. |