Browse content similar to 24/03/2017. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Stock markets have risen since President Trump's election | :00:17. | :00:21. | |
on the promise of big spending to boost the economy, | :00:22. | :00:24. | |
but will his struggles with Congress get in the way? | :00:25. | :00:28. | |
Big falls for Samsung's shares after the South Korean giant says it | :00:29. | :00:34. | |
won't make the changes some investors want after its | :00:35. | :00:37. | |
And markets worldwide are once again focused on Washington and assessing | :00:38. | :00:45. | |
President Trump's ability to push through reform. | :00:46. | :00:47. | |
This is how the day has started in Europe - | :00:48. | :00:50. | |
we'll talk you through the winners and the losers. | :00:51. | :00:54. | |
Also in the programme - robots are increasingly | :00:55. | :00:57. | |
taking our jobs, but will it be good for the economy? | :00:58. | :01:01. | |
Our economics editor Kamal Ahmed will be here to discuss that | :01:02. | :01:04. | |
Today we want to know, would you pay to tweet? | :01:05. | :01:07. | |
Twitter is considering a paid membership option for businesses | :01:08. | :01:12. | |
and power users - what do you think? | :01:13. | :01:16. | |
Get in touch with us, we do love to hear from you. | :01:17. | :01:31. | |
We start in the US, where President Trump is battling | :01:32. | :01:40. | |
to deliver on one of his biggest election promises, | :01:41. | :01:42. | |
and to hang on to his credibility with investors. | :01:43. | :01:44. | |
Late on Thursday, Republicans were forced to delay a vote | :01:45. | :01:46. | |
in the House of Representatives on scrapping and replacing | :01:47. | :01:49. | |
the healthcare reforms known as Obamacare becuase they struggled | :01:50. | :01:53. | |
to drum up enough support across their own party. | :01:54. | :02:11. | |
Mr Trump is now trying to force a vote this afternoon, | :02:12. | :02:13. | |
On Wall Street it's being seen as a key test | :02:14. | :02:17. | |
The concern is if he can't deliver on scrapping Obamacare, | :02:18. | :02:21. | |
his other plans for massive tax cuts and spending hikes may not get | :02:22. | :02:24. | |
Let's just show you the scale of the expectation that has built up. | :02:25. | :02:28. | |
$2.2 trillion has been added to the value of US shares | :02:29. | :02:30. | |
since Trump was elected, in a rally of historic proportions. | :02:31. | :02:38. | |
If you take a look at the Dow Jones industrial average, | :02:39. | :02:41. | |
it has soared since the election in November. | :02:42. | :02:46. | |
As of the start of this week, it had gone up 14% | :02:47. | :02:49. | |
The financial sector has been the biggest winner - | :02:50. | :02:55. | |
that's because the President has promised to review | :02:56. | :03:01. | |
the strict regulations brought in after the financial crisis, | :03:02. | :03:04. | |
The Dow's index of bank shares has soared 17%. | :03:05. | :03:13. | |
Mike Jakeman is a Global analyst at The Economist Intelligence Unit. | :03:14. | :03:18. | |
Thank you for joining us this morning. So much of this market | :03:19. | :03:26. | |
growth has been delivered on a sense of expectation, hope. Is it starting | :03:27. | :03:30. | |
to look like President Donald Trump cannot quite strike a deal in | :03:31. | :03:33. | |
Congress the way the businessman was able to do in the commercial sector? | :03:34. | :03:38. | |
Yes, you can understand the reasons the business community were | :03:39. | :03:41. | |
optimistic about Donald Trump because we had a unification of the | :03:42. | :03:44. | |
President with a Republican president and Republican majorities | :03:45. | :03:48. | |
in both houses, it looked as if it could be a relatively smooth passage | :03:49. | :03:52. | |
by legislation but that overlooks the fact that could -- -- club is | :03:53. | :03:56. | |
not a traditional mainstream Republican and the party itself is | :03:57. | :04:00. | |
quite ideological split. We have seen this with the help depot, there | :04:01. | :04:05. | |
are moderate politicians whose constituents have been using | :04:06. | :04:08. | |
Obamacare the years, they are keen to keep as much as what they have | :04:09. | :04:12. | |
been using on the table as possible, then there are the right wing who | :04:13. | :04:15. | |
are obviously ideological opposed to Obamacare and want the whole thing | :04:16. | :04:20. | |
God. Trump is in the middle of this trying to get it through as tricky | :04:21. | :04:25. | |
as he can, losing votes on one side, gaining on the other. Repealing | :04:26. | :04:29. | |
Obamacare was central to his campaign for the presidency. If he | :04:30. | :04:33. | |
cannot deliver on this, that will spook the market in terms of | :04:34. | :04:37. | |
delivering on tax cuts, promised infrastructure spending. If you | :04:38. | :04:40. | |
cannot deliver, what will that mean? I would not be too worried about | :04:41. | :04:45. | |
that yet. For a start, we knew there would be problems with getting | :04:46. | :04:47. | |
things through Congress because of the way the party is split, and | :04:48. | :04:50. | |
health care is a divisive issue. We might | :04:51. | :05:13. | |
find there is a greater sense of harmony in the party on, for | :05:14. | :05:16. | |
example, tax cuts, so we will see an issue by issue struggle, some things | :05:17. | :05:18. | |
will go through Congress quickly because there is unification between | :05:19. | :05:20. | |
the administration and the party. Other things, issues that are really | :05:21. | :05:22. | |
central to American life, will prove more divisive. We were talking in | :05:23. | :05:25. | |
the Green room, you can pack a new president to a new car, as soon as | :05:26. | :05:28. | |
you drive off the forecourt the value depreciate. This is his | :05:29. | :05:30. | |
opportunity to act, would you expect him to have delivered more by now? | :05:31. | :05:33. | |
He has been sold a hospital pass by Paul Ryan on this, health care is | :05:34. | :05:36. | |
the first issue they have tackled and it is a tough start for a new | :05:37. | :05:39. | |
president, an issue that has dogged American presidents back to the | :05:40. | :05:43. | |
1940s, so too are expected to be sold and legislated in a couple of | :05:44. | :05:46. | |
months is quite a tough line. I think we will see a better pace of | :05:47. | :05:49. | |
progress in the coming months when they tackle issues that are not | :05:50. | :05:53. | |
quite as difficult. Briefly, do you think it will pass today? Not | :05:54. | :05:57. | |
necessarily today but in the next few weeks they will get something | :05:58. | :05:59. | |
through. Thank you for your time. That is the | :06:00. | :06:03. | |
focus for the markets, we will talk more about that later. Let's look at | :06:04. | :06:04. | |
some of the stories. Twitter is considering adding | :06:05. | :06:07. | |
a paid membership option The micro-blogging service, | :06:08. | :06:09. | |
which has struggled to grow its user base in recent years, | :06:10. | :06:12. | |
is carrying out surveys to "assess But it has not made any | :06:13. | :06:15. | |
indication it is considering Twitter's active user | :06:16. | :06:18. | |
base has plateaued, and advertising revenues, | :06:19. | :06:24. | |
currently the firms only meaningful Send us your thoughts on this via | :06:25. | :06:32. | |
Twitter, if you like, and we will share them with you later. | :06:33. | :06:35. | |
The Chinese Premier Li Keqiang has said allies will not have to choose | :06:36. | :06:39. | |
between favoring China and the United States, | :06:40. | :06:41. | |
despite tensions between the two super-powers. | :06:42. | :06:46. | |
He was speaking during a visit to Australia where he oversaw the | :06:47. | :06:50. | |
signing of bilateral trade agreements. Australia is China's | :06:51. | :06:54. | |
biggest export market. The European lender Credit Suisse | :06:55. | :07:01. | |
raised bonuses by 6% in 2016, according to the company's | :07:02. | :07:03. | |
latest annual report. The Swiss bank recorded a loss | :07:04. | :07:10. | |
of $2.4 billion last year, but the report said that the payouts | :07:11. | :07:13. | |
were necessary in The increase defies a recent | :07:14. | :07:15. | |
trend towards smaller We can see that FTSE here holding | :07:16. | :07:25. | |
steady, it has been open for almost 40 minutes, mentioning as we had | :07:26. | :07:28. | |
lined with, analysts keeping an eye on the vote by US lawmakers on | :07:29. | :07:33. | |
health care, a key test of Donald Trump's political agenda, so much | :07:34. | :07:37. | |
expectation and hope built up in the markets. If he cannot get this | :07:38. | :07:38. | |
through, what will that mean? It's been another tense day | :07:39. | :07:40. | |
for electronics giant Samsung. It has been facing investors | :07:41. | :07:46. | |
at its annual general meeting. The company's leader, | :07:47. | :07:50. | |
grandson of the founder and vice-chairman Jay | :07:51. | :07:58. | |
Y Lee, wasn't there. He's facing trial on charges | :07:59. | :08:00. | |
of bribery and embezzlement - which he denies - in a corruption | :08:01. | :08:02. | |
scandal that has seen president It would have been interesting to be | :08:03. | :08:17. | |
a fly on the wall at that AGM? Yes, there was a big restructure on | :08:18. | :08:22. | |
the table and for the moment they seem to have put it aside. Samsung | :08:23. | :08:29. | |
group shares were down, the flagship Samsung Electronics lost the red .7% | :08:30. | :08:32. | |
while other divisions lost considerably more than that. The | :08:33. | :08:36. | |
restructure is not off the table entirely but seems it will not be a | :08:37. | :08:40. | |
simple and straightforward process. It has been a difficult year for on | :08:41. | :08:45. | |
a number of levels, there has of course been that scandal and on top | :08:46. | :08:49. | |
of lets not forget the Samsung Galaxy note seven battery issue | :08:50. | :08:55. | |
which of course was connected to recall because in some cases those | :08:56. | :08:59. | |
batteries overheated and caught fire but you have to remember the | :09:00. | :09:03. | |
sell-off is coming of record high partly due to the semiconductor | :09:04. | :09:07. | |
business which has gone along quite nicely, seemingly unaffected by | :09:08. | :09:10. | |
everything else that has happened Samsung this year. | :09:11. | :09:13. | |
For now, Tim, thank you very much indeed. | :09:14. | :09:18. | |
Let's look at the markets the world. It has been an interesting session, | :09:19. | :09:22. | |
in Japan we saw gains because the yen weakened a liberal versus the | :09:23. | :09:26. | |
dollar but it was not a huge amount, enough to give Japan a bit of a | :09:27. | :09:30. | |
boost, it has had a torrid week this week mainly because of the weakening | :09:31. | :09:34. | |
dollar and of course the markets are not sure where to head this week | :09:35. | :09:38. | |
with concern that we mentioned about Donald Trump's ability to pass | :09:39. | :09:42. | |
through law. Let's look at Europe trading, they | :09:43. | :09:46. | |
are all a little bit flat, slight losses. We will discuss those in | :09:47. | :09:48. | |
more detail in a moment. Let's look ahead to what is | :09:49. | :09:54. | |
happening on Wall Street. The Mir Hussein has more. | :09:55. | :09:57. | |
Financial markets here in the US are set for another day of looking | :09:58. | :10:01. | |
The failure of the Republican Congress to bring its Healthcare | :10:02. | :10:04. | |
Bill to a vote on Thursday didn't do wonders for the market's | :10:05. | :10:10. | |
belief that the Trump administration can follow | :10:11. | :10:12. | |
More delays, or a failure of the legislation, might give | :10:13. | :10:16. | |
Still, investors will also have some key economic data to look at, | :10:17. | :10:26. | |
and there's possibly a greater certainty of good news there. | :10:27. | :10:28. | |
Orders for durable goods, those are longer-lasting | :10:29. | :10:30. | |
manufactured items, are expected to have seen another | :10:31. | :10:32. | |
rise in February, this time of about 1.2%. | :10:33. | :10:37. | |
A closely-watched survey of sentiment among managers | :10:38. | :10:40. | |
in the manufacturing sector is also expected to post a decent increase. | :10:41. | :10:48. | |
Joining us is Lucy MacDonald, CIO, Global Equities | :10:49. | :10:50. | |
Thank you for coming in this morning. A lot going on for the | :10:51. | :11:00. | |
market, the big focus is the vote happening in the States today but we | :11:01. | :11:04. | |
have had movement with oil as well, something playing on the markets. | :11:05. | :11:10. | |
With oil, it has been one of the big drivers of the recovery in the | :11:11. | :11:14. | |
market, so we have had the Trump rally but also a recovery in the oil | :11:15. | :11:18. | |
price as well, and that has really been because of cuts agreed with | :11:19. | :11:25. | |
Opec. Although those cuts have taken place, it does seem that the | :11:26. | :11:33. | |
expectation that the oil price will go up has meant that the credit | :11:34. | :11:38. | |
going into the shale industry in the US has kept its pumping and | :11:39. | :11:41. | |
therefore you have got higher infant 's and so that is now pushing down | :11:42. | :11:47. | |
on the oil price so it is going to be an interesting time for Opec to | :11:48. | :11:52. | |
decide whether they need to do more cuts all give more confidence that | :11:53. | :11:56. | |
the cuts will be of a longer duration. There is an Opec meeting | :11:57. | :12:00. | |
this weekend so the price of oil is going to be sensitive in the run-up | :12:01. | :12:03. | |
to that and probably early next week. Give us your reflection on | :12:04. | :12:07. | |
this week for the markets, it has been a funny one because last week | :12:08. | :12:08. | |
it was about central bank action with the Fed, meeting with many | :12:09. | :12:28. | |
other central banks around the world. This week has been unusual | :12:29. | :12:31. | |
with today, the big focus this afternoon, is in the United States? | :12:32. | :12:34. | |
It is the first week with a 1% fall in the market on Tuesday, the first | :12:35. | :12:36. | |
time for 100 days, so markets have been incredibly complacent, the fear | :12:37. | :12:39. | |
index is extremely low. It is a very complicated index in its | :12:40. | :12:45. | |
construction but what it is showing you is the expectations about | :12:46. | :12:50. | |
volatility going forward. That has gone up a bit? No, that has gone | :12:51. | :12:55. | |
low, so there is a lot of complacency in the market, so over | :12:56. | :12:59. | |
the last six months we have seen spikes in this index with Brexit and | :13:00. | :13:04. | |
then with the election, but it has come down to very low levels now, so | :13:05. | :13:08. | |
you have a very strong market with low volatility and that suggests | :13:09. | :13:12. | |
complacency, so this week having the first 1% fall in the market suggests | :13:13. | :13:18. | |
it is just the first crack in that complacency, and that is why this | :13:19. | :13:22. | |
vote is so important, because of the importance of the whole Trump agenda | :13:23. | :13:31. | |
of progress, pro-inflation, to keep the rally going. If there is | :13:32. | :13:36. | |
expectation that the tax reform in particular won't get through in | :13:37. | :13:39. | |
time, that will mean this whole trade and the basis of it is | :13:40. | :13:43. | |
question. OK, you will be back to do the papers at the end of the | :13:44. | :13:45. | |
programme. Thank you for now. Lots more to come | :13:46. | :13:49. | |
in the programme, including, are more robots good for the economy? | :13:50. | :13:54. | |
Hour of every human economics editor will be here to explain all. -- our | :13:55. | :13:59. | |
very human editor. You're with Business | :14:00. | :14:00. | |
Live from BBC News. In the UK, providers may have | :14:01. | :14:07. | |
to start compensating customers if landline | :14:08. | :14:10. | |
and broadband repairs are too slow. Ofcom proposes customers getting | :14:11. | :14:13. | |
refunds if broadband isn't set up on the day it was promised, | :14:14. | :14:15. | |
or if an engineer doesn't turn What is the reaction to this? | :14:16. | :14:26. | |
This is a consultation which will carry on until June and we will not | :14:27. | :14:30. | |
get concrete proposals from Ofcom until the end of the year, but it is | :14:31. | :14:35. | |
a significant move. Ofcom say around 5.6 million people every year lose | :14:36. | :14:39. | |
access to their landline or broadband, and that this isn't | :14:40. | :14:44. | |
rectified quickly enough. Apparently every year about 250,000 | :14:45. | :14:47. | |
appointments with engineers are missed, the engineer simply doesn't | :14:48. | :14:51. | |
turn up, and Ofcom says that is not good enough. Also when people want | :14:52. | :15:04. | |
landline or broadband installed, there are often delayed there, so it | :15:05. | :15:06. | |
stays there would be an automatic entitlement to compensation, whether | :15:07. | :15:08. | |
that be cash payment or reduction in Bill, and this will result in | :15:09. | :15:11. | |
payment of about ?185 million per year. Incidentally it is only | :15:12. | :15:14. | |
landline and broadband customers, not mobile customers because | :15:15. | :15:18. | |
apparently mobile customers do get compensated quite well in most | :15:19. | :15:22. | |
cases, whereas when it comes to landlines it is only in about 15% of | :15:23. | :15:26. | |
cases and Ofcom says compensation is ad hoc and simply often not | :15:27. | :15:30. | |
adequate. Has there been any reaction from the | :15:31. | :15:33. | |
industry? I have not personally seen any but I | :15:34. | :15:37. | |
suspect there will be because the industry itself has come up with | :15:38. | :15:42. | |
proposals to rectify this. BT, virgin media, they have come | :15:43. | :15:45. | |
together and put out proposals but Ofcom says they don't go far enough | :15:46. | :15:48. | |
so it is back to the drawing board for them. | :15:49. | :15:49. | |
OK, thank you. Lots of other stories online, as | :15:50. | :16:03. | |
ever we can't fit them all. Portsmouth and Exeter's new boss to | :16:04. | :16:08. | |
hold takeover talks. This is chief executive Michael Eisner. They are | :16:09. | :16:12. | |
holding exclusive takeover talks according to BBC Business. Trying to | :16:13. | :16:17. | |
think of appropriate Disney movie titles! Bank branches inevitably in | :16:18. | :16:25. | |
the firing line as banks go more digital. The high-street bank or | :16:26. | :16:30. | |
branch as it work could become a thing of the past. Read about it | :16:31. | :16:41. | |
online. Our top story, as President Trump struggles to get health care | :16:42. | :16:46. | |
reforms through US Congress, concerns grow amongst investors | :16:47. | :16:49. | |
about he will be able to deliver the economic boost he promised. Now, | :16:50. | :16:57. | |
let's have a quick look at the markets. They are pretty flat, to be | :16:58. | :17:01. | |
honest. I would imagine as we get news out of the United States about | :17:02. | :17:06. | |
the vote in Congress on Obamacare or the affordable health care act as | :17:07. | :17:10. | |
it's officially known, will see some movement. Having said that these | :17:11. | :17:13. | |
markets in Europe may be closed by then but we will keep you | :17:14. | :17:14. | |
up-to-date. The UK's PM Theresa May | :17:15. | :17:16. | |
is to trigger Article 50 next Wednesday, officially notifying | :17:17. | :17:20. | |
the European Union And jobs will change rather | :17:21. | :17:22. | |
than disappear over the next decade as robots are increasingly used | :17:23. | :17:28. | |
in the world of work. A couple of interesting reports are | :17:29. | :17:36. | |
out on that this week as well. Let's discuss all of this with our | :17:37. | :17:41. | |
economics editor Kamal Ahmed. Good morning. Let's talk some big | :17:42. | :17:51. | |
figures. I think it is a moment to take stock to an extent. This | :17:52. | :17:56. | |
weekend in Italy sees the marking of the 60th anniversary of the birth of | :17:57. | :18:00. | |
what was the European economic commission. And to say at this | :18:01. | :18:07. | |
moment, it has achieved a huge amount. We sometimes forget this was | :18:08. | :18:12. | |
to stop War, which was successful. It integrated after the fall of the | :18:13. | :18:19. | |
Berlin Wall, after the fall of communism across Eastern Europe. It | :18:20. | :18:21. | |
launched a single currency relatively successfully. Any people | :18:22. | :18:26. | |
believe. We've got to a stage where there is this new fracture. Britain | :18:27. | :18:31. | |
is about to trigger Article 50 to leave the European Union, and both | :18:32. | :18:42. | |
the finance minister of Germany and Jean-Claude Juncker have spoken | :18:43. | :18:48. | |
about what the rest of Europe will look like. John Claude Inker spoke | :18:49. | :18:54. | |
to our editor and had this to say -- John Claude Yunker. | :18:55. | :18:57. | |
We will be sad, as I was sad when the referendum | :18:58. | :19:00. | |
I'm everything but in a hostile mood, when it comes to Britain. | :19:01. | :19:06. | |
We'll negotiate in a frank way, in a fair way, and are not naive. | :19:07. | :19:17. | |
There he is saying it's not about punishment, slight softening of the | :19:18. | :19:24. | |
language of the negotiations start. Also making clear we aren't naive. | :19:25. | :19:30. | |
The European Union 27 that are left in the European Union want to ensure | :19:31. | :19:34. | |
that whatever the dealers, and it should be a reasonable one they | :19:35. | :19:39. | |
think, it can't be better than being in the European Union. I think | :19:40. | :19:42. | |
that's going to be where the tension is. Much does Britain have to pay in | :19:43. | :19:50. | |
to be part of any European Union structures, to retain access to the | :19:51. | :19:54. | |
single market. That will be where the real battles are. Something else | :19:55. | :19:58. | |
you been writing about this week is robots. The possibility of | :19:59. | :20:03. | |
artificial intelligence meaning that many jobs as we know them now will | :20:04. | :20:09. | |
be not done by humans. Two interesting reports, one from | :20:10. | :20:13. | |
Germany and one from the UK on our future work. If you think about the | :20:14. | :20:18. | |
big trends coming in Western developed economies particularly but | :20:19. | :20:22. | |
also other emerging economies, it is the use of artificial intelligence | :20:23. | :20:26. | |
and robots. The German study makes an interesting point. The two groups | :20:27. | :20:31. | |
of workers who are somewhat protected from the AI revolution are | :20:32. | :20:35. | |
high skilled, human facing tight jobs like health care for example, | :20:36. | :20:41. | |
and lower skilled what it describes as dextrous jobs. Where human | :20:42. | :20:44. | |
ability to work in teams is very important. The ones at risk are what | :20:45. | :20:48. | |
you might describe as the middle management, data processing, middle | :20:49. | :20:52. | |
of type jobs. Those are the jobs that will disappear. The UK study | :20:53. | :21:00. | |
says up to 30% of all jobs can be done by robots or artificial | :21:01. | :21:03. | |
intelligence within the next decade. But it does say that will increase | :21:04. | :21:07. | |
productivity and increased economic wealth. And also there will be a | :21:08. | :21:11. | |
whole new set of jobs around technology and the type of work you | :21:12. | :21:15. | |
do, which means these jobs aren't simply lost from the system, but | :21:16. | :21:19. | |
just like we found with the industrial Revolution when everyone | :21:20. | :21:21. | |
said everyone is going to stop farming, actually we replace those | :21:22. | :21:27. | |
jobs with high manufacturing level jobs in cities. That's what they | :21:28. | :21:31. | |
always promised, there's a whole new range of jobs coming. It does tend | :21:32. | :21:36. | |
to happen. Economies are actually very good at creating work. If we | :21:37. | :21:40. | |
look at the levels of work in the UK at the moment, it's incredibly high. | :21:41. | :21:45. | |
Employment levels in the UK are almost at a record. Economies are | :21:46. | :21:49. | |
very good at replacing older jobs with new types of jobs. Thank you. | :21:50. | :21:57. | |
Stay in your human form, please! I could be a robot, who knows! I can | :21:58. | :22:01. | |
confirm he is not! LAUGHTER Now, many of you who are watching | :22:02. | :22:04. | |
in the UK may be aware that It's a chance to raise money | :22:05. | :22:08. | |
for charities that help people here in the UK and across Africa | :22:09. | :22:11. | |
by doing something funny. Since its launch in 1988, | :22:12. | :22:14. | |
it's raised hundreds So to raise more I persuaded one | :22:15. | :22:16. | |
of our regular guests, economist Jeremy Cook, | :22:17. | :22:20. | |
to part with his beard. There you go, that's | :22:21. | :22:24. | |
the halfway mark. And thank you everybody | :22:25. | :22:37. | |
for donating to Red Nose Day. It took years of him! It did. He's | :22:38. | :23:12. | |
had that beard for eight years. So far online he's raised, through that | :23:13. | :23:19. | |
very brave act, ?1642. I'm going to tweet the sponsorship link if you | :23:20. | :23:24. | |
want to boost it. Lucy has joined us to discuss some of the paper | :23:25. | :23:29. | |
stories. We mentioned Twitter may be considering paired membership. -- | :23:30. | :23:36. | |
paid membership. One viewer says more pay walls coming to the web, | :23:37. | :23:39. | |
and other way the companies to make dollars. Another viewer says, I | :23:40. | :23:44. | |
would take down my account if this happened. Lucy, are you a fan of | :23:45. | :23:52. | |
twitter? I read it but I don't tweet. There are people and | :23:53. | :23:57. | |
organisations that it's worth keeping track of, isn't it? Some of | :23:58. | :24:01. | |
them are very prolific in terms of making venues known. Yes. As far as | :24:02. | :24:06. | |
the pay model is concerned, I think it's quite difficult to go from free | :24:07. | :24:11. | |
to paid. You could try a premium model like Spotify has where you | :24:12. | :24:16. | |
start free and then you start paying a little, and then you have a bit | :24:17. | :24:21. | |
more flexibility about it. If you just start trying to charge people | :24:22. | :24:25. | |
things, people will switch off and try something else. Also in the news | :24:26. | :24:28. | |
is the French elections. The latest bit of information you can see that | :24:29. | :24:35. | |
the defence Minister is defecting from the left to join the | :24:36. | :24:38. | |
independent candidate Emmanuel Macron. It would seem Emmanuel | :24:39. | :24:43. | |
Macron is getting more momentum by the day. This is a big story for | :24:44. | :24:48. | |
markets right across Europe, this risk. It is, and there is a huge | :24:49. | :24:54. | |
focus on how populism is doing across Europe and in France in | :24:55. | :24:59. | |
particular. We are just coming up to April and May. It is looking closer | :25:00. | :25:04. | |
now. A neck and neck between Marine Le Pen and Emmanuel Macron, | :25:05. | :25:09. | |
certainly in the first round. Then in the second we don't know what | :25:10. | :25:15. | |
will happen. But it does look much closer. Therefore, less concern as | :25:16. | :25:20. | |
far as markets are concerned. You can see that partly in the way the | :25:21. | :25:25. | |
European markets are beginning to perform better, as that populism | :25:26. | :25:30. | |
fear is receding. Lucy McDonald, thank you for joining us. | :25:31. | :25:32. | |
I think our guests will be nervous now I've been shaving off beards! | :25:33. | :25:40. | |
See goodbye. | :25:41. | :25:46. |