:00:10. > :00:17.Hello, everybody, this is business live from BBC News. The Indian Prime
:00:18. > :00:22.Minister heads for the UK with billions of dollars of deals on the
:00:23. > :00:30.table, but it's Britain in danger of missing out on India's economic
:00:31. > :00:44.rise? That is our top story today on Thursday the 12th of November.
:00:45. > :00:54.From being one of India's top trading partners, the UK is now just
:00:55. > :00:58.12th on the list. Trading between the two felt almost 10% in the last
:00:59. > :01:05.year despite the pledge by the British Prime Minister to double it.
:01:06. > :01:10.Also, could self driving trucks be good news for truck drivers. They
:01:11. > :01:13.say yes because the computer in the cab will take out the boring bits of
:01:14. > :01:18.the journey. As usual we will explain the
:01:19. > :01:23.markets. They have come down and we will explain why.
:01:24. > :01:31.We will be joined by this man, who is described as the trip advisor for
:01:32. > :01:37.the workplace. It is a website where current and former employees rated
:01:38. > :01:46.the companies where they work. We will be asking him can you believe
:01:47. > :01:50.the information out there? Tell tell us what you think about the
:01:51. > :02:06.driverless trucks. Get in touch. Welcome to the programme. An
:02:07. > :02:10.historic opportunity, that is what the British Prime Minister David
:02:11. > :02:17.Cameron is calling a visit by his Indian counterpart to the country.
:02:18. > :02:22.He lands in a couple of hours' time. India's economy is expected to
:02:23. > :02:27.grow more than 7% this year, probably outstripping the growth
:02:28. > :02:31.rate in China. There is a huge amount at stake for Britain. Is
:02:32. > :02:39.Britain doing enough to build on those economic ties? India's trade
:02:40. > :02:44.with the UK was worth $14.3 billion last year, less than with countries
:02:45. > :02:51.like China, the US, Saudi Arabia and even Belgium. Looking at the
:02:52. > :02:57.figures, the UK is only India's 12th biggest trading partner. Trading
:02:58. > :03:02.fell almost 10% in the last financial year, despite a pledge by
:03:03. > :03:07.David Cameron two double it. What could be worrying for the future?
:03:08. > :03:12.The number of Indian students choosing to study in the UK has
:03:13. > :03:16.slumped to half in the past four years.
:03:17. > :03:24.We can speak to an Indian born entrepreneur. Tell us how
:03:25. > :03:32.significant this trip is and the next few days? Some described the
:03:33. > :03:42.trade relationship between India and the UK as pitiful, even Belgium
:03:43. > :03:49.exports more to India than we did. I think this visit is quite historic,
:03:50. > :03:55.it has been almost ten years the last time anyone came. I think it is
:03:56. > :04:07.an opportunity to grow the business between the two countries. Mr Modi
:04:08. > :04:13.has had some bad election results and he is hoping good business deals
:04:14. > :04:18.will turn the mood around in India. I have been here for 14 years and I
:04:19. > :04:25.realised you Brits have a love affair with India and historic ties.
:04:26. > :04:29.Why the slippage in trade between the two? All our exports from India
:04:30. > :04:37.have slipped over the last couple of years. The rate of exports from
:04:38. > :04:45.India was clothing, textiles, diamonds, etc, which has been
:04:46. > :04:51.slumping a lot. The British retail, like Tesco, were trying to get into
:04:52. > :04:58.India, but they faced hurdles. But we have seen successes with the
:04:59. > :05:04.likes of Vodafone. But we think British businesses can work on this
:05:05. > :05:09.chance, like the financial services, could have a go at the
:05:10. > :05:15.Indian businesses. What deals are likely to be done? India is very
:05:16. > :05:19.receptive in the defence sector at the moment. They want to attract
:05:20. > :05:25.foreign investment into local manufacturing. Mr Modi has got this
:05:26. > :05:29.made in India campaign where he expects to attract a lot of foreign
:05:30. > :05:37.investment into various fields like defence and the food industry. Local
:05:38. > :05:43.employment can be created. I want to talk about the drop in students.
:05:44. > :05:49.That is a concern here, I guess Indian students are choosing
:05:50. > :05:55.elsewhere to study? It is partly driven by the British visa
:05:56. > :06:00.restrictions. If you look at it since the Visa rules were changed,
:06:01. > :06:07.probably because of the EU influx of foreigners, the Indian students
:06:08. > :06:15.earlier were permitted to work for an extra year or so and that has
:06:16. > :06:18.been taken away. Secondly, they have now included the students under the
:06:19. > :06:23.oral English cat which is a bone of contention. I am sure that will be
:06:24. > :06:29.brought out on this visit. It is fascinating to talk about this,
:06:30. > :06:39.thank you for coming in. It will be talked about over the next few days.
:06:40. > :06:44.It probably will. That is Alibaba, we were talking
:06:45. > :06:50.about this yesterday. $14.3 billion of goods were sold in one day.
:06:51. > :06:57.Yesterday was known as singles day in China. It is a mock festival for
:06:58. > :07:02.people not in a relationship and has turned that data into a huge
:07:03. > :07:06.shopping day which outstrips America's Black Friday and cyber
:07:07. > :07:10.Monday combined. The sales were up 60% on last year.
:07:11. > :07:18.The Australian dollar has been surging. It came in far stronger
:07:19. > :07:24.than expected. Australian employers created 58,000 jobs last month. They
:07:25. > :07:28.are expecting about 50,000, a massive jump compared with
:07:29. > :07:34.expectations. The jobless rate has dropped to 5.9%.
:07:35. > :07:38.That is good news, but not good news if you live outside and you go home
:07:39. > :07:47.every year for a visit and it is more expensive!
:07:48. > :07:55.Lots of other stories out there. There is plenty on the Business Live
:07:56. > :08:03.page. Looking at Rolls-Royce, their shares have fallen today. It faced
:08:04. > :08:08.increased profit headwinds. That is its warning about future profits.
:08:09. > :08:11.Burberry profits were stronger and sales were stronger, but again
:08:12. > :08:18.warning about challenges and China in particular. A lot of companies
:08:19. > :08:23.coming out with mixed news. We will look at Rolls-Royce later
:08:24. > :08:29.on. I am curious if it is across the border or is it the car side by the
:08:30. > :08:35.end in sight? Let's go straight over to
:08:36. > :08:42.Singapore. You are going to talk about the world's biggest PC makers.
:08:43. > :08:51.Some people are not buying PC as much any more. That is right. The
:08:52. > :09:00.tech industry is dealing with major changes. The Chinese company had a
:09:01. > :09:06.loss of $7.4 million. The reasons for this are acquisitions and
:09:07. > :09:11.restructuring costs. Last year they bought ability from Google as part
:09:12. > :09:21.of its strategy to deal with the town downturn in the business. It
:09:22. > :09:29.spent hundreds of millions of dollars clearing smartphone
:09:30. > :09:33.inventories. But its shares were up over 5% in Hong Kong because
:09:34. > :09:42.investors were expecting the loss to be much bigger than it was. Always
:09:43. > :09:43.great stuff, talk to you soon. Let's stay with the markets. Much of the
:09:44. > :09:59.Australian dollar. Oil prices have eased, they are still very low.
:10:00. > :10:03.is the funny thing about the markets, the current funny thing
:10:04. > :10:08.about the global markets, which are driven by the perception of the
:10:09. > :10:14.central bank action. We listen to what the bankers say and then
:10:15. > :10:20.investors come in and then the moves are exaggerated. In the United
:10:21. > :10:29.States huge expectations on both central banks. Experts say with the
:10:30. > :10:33.huge expectations on those central banks, there is limited opportunity
:10:34. > :10:37.for now. Let's head over to the United States. New figures are
:10:38. > :10:43.expected to Americans applied for unemployment
:10:44. > :10:46.benefits last week, evidence of job growth continues to strengthen into
:10:47. > :10:49.November. It adds more weight to the November. It adds more weight to the
:10:50. > :10:56.notion that the Federal reserve will raise rates. We saw the US oil
:10:57. > :10:57.crisis slide of the US energy information Administration is
:10:58. > :11:04.expected to report on Thursday that US crude supplies are grown for a
:11:05. > :11:17.seventh straight week. That fourth-quarter earnings. They have
:11:18. > :11:27.been losing advertising dollars over likely investors.
:11:28. > :11:31.facing as viewers shift to online streaming services. James Hughes is
:11:32. > :11:42.with us, chief market analyst. Nice to see you. A lot
:11:43. > :11:47.mention Rolls-Royce in a bit more detail, the shares really falling
:11:48. > :11:53.today. This is the aerospace element of the business, what about the
:11:54. > :11:59.future? This is a big thing. Rolls-Royce make massive jet engines
:12:00. > :12:05.for the majority of aeroplanes out there. It shows something about the
:12:06. > :12:10.air industry. We have had low oil prices pushing a little higher of
:12:11. > :12:16.late and that affects things. The aerospace industry is an uncertain
:12:17. > :12:19.area. Especially airlines and business travel. Corporate jet
:12:20. > :12:29.engines is what they are struggling to sell.
:12:30. > :12:34.2015, but they are down now. Let's talk about the markets in general.
:12:35. > :12:40.We try to avoid talking about the US Federal reserve because it gets a
:12:41. > :12:45.bit boring after a while. The markets are down, and the US dollar
:12:46. > :12:52.is pretty high at the moment. This is the situation. I know the Federal
:12:53. > :12:56.reserve is boring everyone to tears, but we have to talk about it. They
:12:57. > :12:59.looked like they are going to do it in December, but they looked like
:13:00. > :13:04.they were going to do it in September as well. The dollar is
:13:05. > :13:07.strong on the back of that, but raising rates is bad news for equity
:13:08. > :13:13.markets and good news for the US dollar. We are seeing moving the
:13:14. > :13:18.markets in the right way, which we do not see these days. It is
:13:19. > :13:23.interesting, but the problem we will get is if we get to December and the
:13:24. > :13:28.Federal reserve do not raise interest rates and the markets go
:13:29. > :13:33.crazy, then we are all back to square one. If they do not do it in
:13:34. > :13:38.December we are going to go over there and talk to Janet year land.
:13:39. > :13:44.If she listened to you say that, that would be another reason for how
:13:45. > :13:49.to do it. How do you apply for a job changing?
:13:50. > :13:59.We are joined by the boss of a website called Glass Door, which
:14:00. > :14:04.allows you to find out what the company is to work like before you
:14:05. > :14:09.even set foot in it. First, some other stories critical
:14:10. > :14:13.to the UK. If you are over 65 and want to buy a new home, there is
:14:14. > :14:17.good news. Age limit rules on mortgages are set
:14:18. > :14:24.to be relaxed by Britain's building societies. Lenders typically in the
:14:25. > :14:28.borrowers pay back home and by the time they are 7075 because they want
:14:29. > :14:34.to be sure they want to get their money back.
:14:35. > :14:38.Let's be nice about it! But the combination of longer life
:14:39. > :14:40.expectancy and the demand for mortgages for older people means of
:14:41. > :14:47.building societies are having a rethink.
:14:48. > :14:53.People are now living longer and they are living in a very
:14:54. > :14:59.definitely. Sometimes they live lives differently and they leave
:15:00. > :15:02.their property to help the children get on the housing ladder. Age
:15:03. > :15:08.limits have been in place for an number of years. It has fired off a
:15:09. > :15:14.debate about whether the mortgage market is flexible enough to cater
:15:15. > :15:16.for the ageing population. Building societies will review their age
:15:17. > :15:23.limits to make sure we can facilitate people to have the life
:15:24. > :15:30.they want in retirement. HMRC staff could find out today if it is
:15:31. > :15:36.closing. 170 of its offices across the country could be replaced by 13
:15:37. > :15:39.regional accent is according to the Daily Telegraph. It is designed to
:15:40. > :15:47.save millions of pounds and is likely to result in redundancies
:15:48. > :15:51.amongst its 56,000 staff. There has been criticism of its
:15:52. > :15:55.customer service recently with people saying it was so bad it could
:15:56. > :16:01.be affecting tax collection. It is your turn.
:16:02. > :16:06.Burberry said sales have picked up in the third quarter, compared with
:16:07. > :16:12.the second quarter. An adjusted pre-tax profit of 153 million quid.
:16:13. > :16:21.Better than the experts were expecting. It has been struggling
:16:22. > :16:26.with a slowdown in demand. That is from China where it does more than a
:16:27. > :16:31.third of its business. This is a deal expected to be done
:16:32. > :16:37.in the next couple of days. India wants more of our pilot
:16:38. > :16:44.training jets. Good that deal is clenched. That is one of the ones
:16:45. > :16:48.they are discussing. The Indian Prime Minister is
:16:49. > :16:53.beginning a three-day visit to the UK. He is the first Indian Premier
:16:54. > :16:57.to come to Britain in nearly a decade. Millions of dollars of trade
:16:58. > :17:01.deals are expected to be signed. Imagine if you knew what a company
:17:02. > :17:06.was like to work for before you apply for a job.
:17:07. > :17:15.That would no doubt influence your decision to apply to go there.
:17:16. > :17:19.Glass Door is a job site described as the trip advisor for job-seekers.
:17:20. > :17:24.You can check out what the potential of your employers might be like by
:17:25. > :17:32.reading anonymous reviews by employees and former employees.
:17:33. > :17:39.The co-founder describes himself as a major geek. He runs his 550 person
:17:40. > :17:45.start-up by day and still personally codes by night.
:17:46. > :17:52.When not running the company or coding he is playing computer games
:17:53. > :17:56.with his sons. He has been known to say that his company would not be
:17:57. > :18:04.around, if it were not for computer games. He is with us here to tell us
:18:05. > :18:11.more. Welcome, Robert. It all sounds intriguing. I wish Glass Door was
:18:12. > :18:18.around when I was applying for jobs. How did you come up with this idea?
:18:19. > :18:23.I had been lucky to be part of the Expedia journey and what happened on
:18:24. > :18:28.my travels is we took the travel agent green screen which agents used
:18:29. > :18:31.to have and you would bang away at the keyboard and interpret the
:18:32. > :18:38.results and give it to people and it was powerful. I looked around after
:18:39. > :18:43.Expedia about the big decisions people made in their lives and I
:18:44. > :18:47.fell in love with this. When they choose where to go to work it is one
:18:48. > :18:54.of their biggest decisions in their lives. You came up with this idea
:18:55. > :19:01.after leaving Microsoft and Expedia and you took a year off. He took a
:19:02. > :19:15.year off to play a video game. Which one was it? World Of Watercraft. A
:19:16. > :19:20.year? I learned a couple of things about myself and for the first time
:19:21. > :19:25.I saw the power of people engaging with each other using technology,
:19:26. > :19:30.which is what was happening in this game. You were playing with other
:19:31. > :19:35.human beings. That is what our company is about, it allows people
:19:36. > :19:41.to find other people find a company that they love. They talk about the
:19:42. > :19:45.parts of the company they love, the things that they wished to be
:19:46. > :19:51.better. If they could sit down with the CEO, they would say, how much
:19:52. > :19:55.they wanted to change this, how much they earn. One of the criticisms of
:19:56. > :19:59.trip advisor and other sites is when you are looking at it you do not
:20:00. > :20:04.know how much of it is genuine or people having a gripe because they
:20:05. > :20:09.were not upgraded to a better room or whatever. How do we know when we
:20:10. > :20:13.read about the company that all the comments on their are genuine
:20:14. > :20:20.reviews as opposed to somebody who may be a bit bitter because they did
:20:21. > :20:25.not get the promotion they wanted? That is one of the most important
:20:26. > :20:31.things about the site. Everything is pin modified before it goes on. We
:20:32. > :20:36.shake the community and enforce rules and guidelines. Back to the
:20:37. > :20:42.person who has a negative experience, our opinion is there one
:20:43. > :20:45.viewpoint is as valid viewpoint. We go to great lengths to make sure
:20:46. > :20:51.they cannot stuff the ballot box with multiple reviews. We want to
:20:52. > :20:56.hear all those stories from different employees. We have been
:20:57. > :21:00.trained from 20 years of consuming reviews on trip advisor and other
:21:01. > :21:05.places to find a story that speaks to us. Was it difficult when you
:21:06. > :21:14.started to start getting the information? We started in the Bay
:21:15. > :21:20.area in California in the States and we started with software engineers.
:21:21. > :21:24.Anywhere we could find software engineers, for a chance to win an
:21:25. > :21:28.iPad at the time, we would ask them to tell us how much money they made
:21:29. > :21:34.and what it was like to work at their companies. When we launched,
:21:35. > :21:38.within 48 hours we had data from 100 countries around the world. This
:21:39. > :21:43.transparency, the need to know what it will be like before you work for
:21:44. > :21:49.a company and what they pay rapidly transcended it. You said you knew
:21:50. > :21:53.you had an impact on the jobs market because company bosses were ringing
:21:54. > :22:00.you up because they were not happy with their rating. Tell us how you
:22:01. > :22:04.make money. It sounds like it is a very time-consuming job. You have a
:22:05. > :22:09.lot of people working for you. Do people advertise on your site? We
:22:10. > :22:15.make money helping companies recruit. Our mission is to help
:22:16. > :22:20.people find a job and company that they love. Companies want that as
:22:21. > :22:28.well. They want people who are committed and we send companies are
:22:29. > :22:33.really high qualified candidate. Employer brand is becoming
:22:34. > :22:37.important. As the war for talent grows and we are all fighting for
:22:38. > :22:41.the small pool of talented individuals, how strong your
:22:42. > :22:51.employer brand is determines whether or not you get those people.
:22:52. > :22:57.Apparently the BBC rates not bad. 73% approval rate. There you go.
:22:58. > :23:02.Nice to meet you. In a moment we are going to take you
:23:03. > :23:06.through other stories out there, but first of all here is a reminder of
:23:07. > :23:13.how you can keep across all you need to know. On the live page you can
:23:14. > :23:19.stay ahead with all the breaking news and it will keep you up-to-date
:23:20. > :23:24.with all the details and analysis. We want to hear from you. Get
:23:25. > :23:37.involved on the BBC Business Live web page. You can find us on Twitter
:23:38. > :23:45.and on Facebook. On TV and online whenever you need to know.
:23:46. > :23:57.James is back. You were an earlier as well! In the States trucks haul
:23:58. > :24:03.$700 billion of goods. That is an important factor for that economy.
:24:04. > :24:08.Yes, it is a big number. We talk about driverless trucks, but they
:24:09. > :24:13.are not necessarily driverless. The companies are saying it is not a
:24:14. > :24:20.matter of losing drivers or drivers being unemployed, but they are
:24:21. > :24:22.making it safer. They want it so tiredness does not come into it.
:24:23. > :24:30.These trucks need somebody in them operating them, driving them. A lot
:24:31. > :24:34.of these companies are paying employees more money because they
:24:35. > :24:39.are aiming at people who understand software rather than those who can
:24:40. > :24:43.just drive a truck. It is a big shift in business and it is to make
:24:44. > :24:48.things safer and not necessarily in the short-term saving a lot of
:24:49. > :24:55.money. It sounds good in theory, but you have to find out what it will be
:24:56. > :25:09.like in real life. Computers do not need Red Bull to keep them going.
:25:10. > :25:13.From Red Bull to beer. This is an enormous merger. It has to go
:25:14. > :25:16.through the competition authorities. Today SAB Miller came
:25:17. > :25:22.out with their results and they were not that great. The numbers were not
:25:23. > :25:28.that great. It posted pretty poor figures when you look at it. And
:25:29. > :25:36.they played hard to get. Yes, they did and considering they were paid
:25:37. > :25:39.50% more than they were looking in the first place, they will look at
:25:40. > :25:45.these figures and they will say, this is not good. A key point is
:25:46. > :25:52.this still has to go through the competitions authority. Commission
:25:53. > :25:58.depending on which country. And we are talking about the SAB Miller
:25:59. > :26:03.brand. We are going to end it there. That is all from Business Live. See
:26:04. > :26:09.you soon.