:00:00. > :00:11.This is Business Live from BBC News with Ben Thompson and Sally Bundock.
:00:12. > :00:14.Saving our planet - as world leaders gather in Paris to try
:00:15. > :00:17.and seal a deal on climate change, we'll be looking at the potential
:00:18. > :00:35.Live from London, that's our top story on 30 November.
:00:36. > :00:39.If sea temperatures rise by 5-degrees celsius, $7 trillion
:00:40. > :00:47.But can world economies really come together to agree a plan?
:00:48. > :00:50.Shop till you drop - the biggest online shopping day
:00:51. > :00:55.of the year kicks off, with billions of dollars expected to
:00:56. > :01:01.European markets edging lower for a new week, after falls in China
:01:02. > :01:04.overnight ahead of the IMF decision over whether to include the yuan
:01:05. > :01:08.in its basket of global currencies - we'll assess the implications.
:01:09. > :01:15.And step aside Barbie - there's a new girl in town.
:01:16. > :01:18.The Lottie doll is based on a a real nine year old and designed
:01:19. > :01:22.We speak to the creative director of the firm
:01:23. > :01:29.And just as we're recovering from Black Friday, today is Cyber
:01:30. > :01:32.Monday, with billions of dollars expected to be spent online today in
:01:33. > :01:53.Heads of government from across the world,
:01:54. > :01:59.including Presidents Xi, Obama and Putin, begin hammering out final
:02:00. > :02:01.negotiations on climate change treaty.
:02:02. > :02:03.It will be legally binding and in action in 2020.
:02:04. > :02:15.US Bank Citigroup estimated the cost of doing nothing
:02:16. > :02:22.If sea temperatures rise by 5-degrees celsius,
:02:23. > :02:26.it's predicted assets worth $7 trillion could be lost.
:02:27. > :02:27.That's more than the total market capitalisation
:02:28. > :02:35.It really does put it into perspective.
:02:36. > :02:38.And in the US, the White House says inaction would cost
:02:39. > :02:46.So, are businesses ready to tackle climate change?
:02:47. > :02:48.What's the impact of climate change going to be for
:02:49. > :02:51.investors and which businesses will be the winners and losers in the
:02:52. > :03:05.I'm joined by Tom Burke, former UK Government adviser on climate
:03:06. > :03:13.change, now chairman of an environmental think tanks. There has
:03:14. > :03:16.been a loss of momentum leading up to this event in Paris and a lot of
:03:17. > :03:24.governments represented. Many of them have already put in writing
:03:25. > :03:29.what their plans are. Surely that bodes for a good conference? I think
:03:30. > :03:33.you are right about that. We are seeing a much more optimistic view
:03:34. > :03:37.of actually getting an agreement. Whether that agreement will be
:03:38. > :03:41.enough, I think we have to wait to see. The French were very smart in
:03:42. > :03:44.getting the leaders in at the beginning. They are going to turn up
:03:45. > :03:49.in Paris today, there are going to make a speech declare victory and go
:03:50. > :03:54.home. That makes it very difficult to bad headlines at the end of the
:03:55. > :03:58.fortnight. There will be a lot of toing and froing between the people
:03:59. > :04:03.in Paris and the Capitals at home to make sure that the story stays
:04:04. > :04:07.consistent. Some of the statistics outline just how catastrophic it
:04:08. > :04:12.could be if more is not done and quickly to counter climate change.
:04:13. > :04:20.Businesses want some kind of strong outcome. To some extent more than
:04:21. > :04:26.organisations like yours, because of the cost to nothing is done? I think
:04:27. > :04:30.that is right. The impact on the economy of climate change is only
:04:31. > :04:36.beginning to be understood. There are still a lot of businesses that
:04:37. > :04:39.have not got their minds around it. There is concern about who is going
:04:40. > :04:44.to be affected. For the fossil fuel industries it is clearly going to be
:04:45. > :04:48.negative. But for opportunity seekers, the new battery developers,
:04:49. > :04:55.the solar entrepreneur is, this would be a good thing. For companies
:04:56. > :04:58.like Unilever, the big retail companies, climate change is a
:04:59. > :05:04.threat to their supply chain. They will want to be a much quicker
:05:05. > :05:07.response by governments. From a practical point of view what do you
:05:08. > :05:11.think businesses and organisations will be looking at in terms of
:05:12. > :05:16.policy they will be needing to implement to stick to guidelines set
:05:17. > :05:19.by national governments? What business most needs from governments
:05:20. > :05:22.is consistency. There is no one policy everybody needs to adopt
:05:23. > :05:27.everywhere because circumstances are different. Business communities are
:05:28. > :05:30.different in different countries. What they need is consistency,
:05:31. > :05:35.exactly what we have not seen from the British government recently. We
:05:36. > :05:38.have to leave it there. Thank you for coming in and giving us your
:05:39. > :05:43.thoughts on this event taking place in Paris. It will be a lead story
:05:44. > :05:48.for quite some time, I am predicting. Full coverage here on
:05:49. > :05:50.the BBC. We will talk about it in the course of the week.
:05:51. > :05:53.In other news, Lufthansa has agreed a pay deal with 30,000 ground staff
:05:54. > :06:02.The deal gives a one-off payment and a 2.2% pay rise.
:06:03. > :06:07.who called a week-long industrial action in early November.
:06:08. > :06:11.Brazil's top banker, Andre Esteves, has resigned as chief executive
:06:12. > :06:14.of financial giant Grupo BTG Pactual after being jailed
:06:15. > :06:19.The billionaire dealmaker is suspected, along with a leading
:06:20. > :06:24.politican, of trying to obstruct an investigation into corruption
:06:25. > :06:31.Iran has overhauled the way it offers contracts to foreign oil
:06:32. > :06:34.companies in a bid to attract $30 billion of new investment.
:06:35. > :06:38.The terms of the new oil contracts will be more favourable to
:06:39. > :06:45.investors, allowing them a greater stake in long-term profits.
:06:46. > :07:03.A brand-new trading week has begun. A big player is losing ground in
:07:04. > :07:10.London. The world's biggest mining company, shares down 2% today, on
:07:11. > :07:16.the news that Brazilian authorities are likely to have two fine the
:07:17. > :07:23.likes of BHP and other companies for a devastating mudslide in south-west
:07:24. > :07:27.Brazil. It happened at an iron ore mine. We have been covering the
:07:28. > :07:32.story and the indications of all of this. We will -- the company says it
:07:33. > :07:36.will assess the case but there are implications, not only for people
:07:37. > :07:43.that died in the disaster, but in terms of financial recompense and
:07:44. > :07:45.how BHB will put that right. -- BHP. Shares down 2% in response.
:07:46. > :07:48.The International Monetary Fund is expected to announce that China's
:07:49. > :07:50.yuan will join its group of reserve currencies.
:07:51. > :07:52.At the moment only the US dollar, the Euro,
:07:53. > :07:56.Japan's yen and the British pound are part of this select club.
:07:57. > :08:00.So what does it mean, how significant is it?
:08:01. > :08:03.Sharanjit Leyl has the answers for us in our Asia Business Hub
:08:04. > :08:18.This is something that Christine Digard has been quite seen -- quite
:08:19. > :08:23.keen to see happen? Absolutely. The yuan may be set to join the big
:08:24. > :08:26.lead. The International Monetary Fund is very much expected to
:08:27. > :08:36.announce later that China's currency will join the international reserve
:08:37. > :08:39.currencies. Only the US dollar, the euro, the yen and the British Pound
:08:40. > :08:42.are currently part of this very exclusive band of currencies.
:08:43. > :08:50.Earlier this month Christine LeGarrette Blount the inclusion of
:08:51. > :08:56.the yuan -- backed the inclusion of the yuan. It is likely to join next
:08:57. > :08:59.year. China is the world's second-largest economy. It has been
:09:00. > :09:04.pushing for its currency to become part of this reserve group. There
:09:05. > :09:07.have been lots of concerns about Beijing keeping the yuan
:09:08. > :09:11.artificially low to help exporters. That is one of the main reasons why
:09:12. > :09:13.the currency had previously failed to meet or that criteria set out by
:09:14. > :09:19.the IMF. Thank you very much. So confirmation of that volatility -
:09:20. > :09:21.particularly on the Shanghai markets - after suffering their heaviest
:09:22. > :09:25.losses since the summer rout. It's not on this board,
:09:26. > :09:27.but the Shanghai index falling 5.5% with most other Asian markets
:09:28. > :09:30.starting a pretty eventful week on Chinese dealers boosted by
:09:31. > :09:39.the hopes the IMF will agree to a proposal to include the Chinese yuan
:09:40. > :09:42.in its basket of elite currencies. That would help Beijing, giving it
:09:43. > :09:56.more international status, alongside We will look of the European figures
:09:57. > :10:02.in a moment. What about Wall Street Jim Crow Michelle has the details.
:10:03. > :10:12.It may be cyber Monday but it is a slow start to the week. However,
:10:13. > :10:14.there is plenty to look forward to. The National Association real -- the
:10:15. > :10:18.National Association of Realtors releases monthly figures on the
:10:19. > :10:22.state of the housing market, which are expected to show a slight
:10:23. > :10:25.decrease from the previous month. Things pick up through the week and
:10:26. > :10:31.we have two big clothing firms reporting their earnings, including
:10:32. > :10:35.American Eagle. Americans will be keen for a rosy forecasts for the
:10:36. > :10:41.shopping season. At the end of the week of the jobs report is likely to
:10:42. > :10:44.show more jobs growth. That will help the Fed.
:10:45. > :10:46.Joining us is Trevor Greetham, Head of multi asset at
:10:47. > :11:02.Quite a bit on the agenda this week. We have global leaders in Paris,
:11:03. > :11:05.Opec members meeting to talk about oil, the European Central Bank
:11:06. > :11:12.meeting to talk about borrowing and possibly more quantitative easing.
:11:13. > :11:17.It is all going on, isn't it? It is. The main thing the markets are
:11:18. > :11:20.focused on is the divergence going on across the Atlantic between the
:11:21. > :11:24.central bank in America, and that is largely expected to raise interest
:11:25. > :11:29.rates in December, for the first time in 11 years. A lot of traders
:11:30. > :11:32.were at school the last time. And in Europe they are talking about
:11:33. > :11:37.printing more money because inflation is so low. That
:11:38. > :11:41.combination is likely to see another year of strong dollar. That is quite
:11:42. > :11:47.negative for commodity prices. That plays into oil, doesn't it? The
:11:48. > :11:51.dollar is getting stronger. No yes. We think that is going to carry on.
:11:52. > :11:55.As long as you have got America raising interest rates on its own
:11:56. > :12:01.and commodity prices are falling inflation does not pick up. You get
:12:02. > :12:05.quite a long business strike -- cycle with of liquidity around and
:12:06. > :12:11.that will be the story for a a long time. Winners and losers, we often
:12:12. > :12:17.talk about the losers, but there are some distinct winners? Well, quite.
:12:18. > :12:23.The bad news comes up front. When the oil price drops, we get profit
:12:24. > :12:26.warnings from the likes of BP Shell. Russia and Indonesia, big exporters
:12:27. > :12:32.of oil, it hurts them. The good news comes gradually. It is a bigger
:12:33. > :12:35.story. It is cheaper to drive your car around, you have more cash left
:12:36. > :12:39.of the end of the week and that is driving the global consumer. The big
:12:40. > :12:44.drop in energy prices over the past year is bad news for emerging
:12:45. > :12:49.economies in general, but it is a strong story for the US consumer.
:12:50. > :12:53.Trevor, we will see you very soon. More stories to discuss later.
:12:54. > :12:56.Still to come we meet the doll that's causing a bit of a stir.
:12:57. > :12:59.The lottie doll is designed to have a more realistic body shape
:13:00. > :13:02.and has become a major success, with sales now recorded
:13:03. > :13:06.We'll be speaking to the woman behind the toy later in the show.
:13:07. > :13:12.You're with Business Live from BBC News.
:13:13. > :13:15.Now a look at some of the stories from around the UK.
:13:16. > :13:18.For many Brits, it's the payday before Christmas and so
:13:19. > :13:21.today has been dubbed Cyber Monday when many of us shop online getting
:13:22. > :13:31.Experian predicts we'll spend ?943 million today making it the busiest
:13:32. > :13:33.time of year for retailers and for delivery businesses as
:13:34. > :13:40.Steph McGovern has been finding out at DHP in Birmingham.
:13:41. > :13:50.Good morning. I am in one of the 180 vans which is about to leave this
:13:51. > :13:57.site. The driver is about to head off. He has 110 drops to do. It is a
:13:58. > :14:01.massive operation. 24,000 parcels they are delivering in this region
:14:02. > :14:05.on this morning alone. That is double what they would have on a
:14:06. > :14:08.typical Monday. We are spending a lot more with online shopping then
:14:09. > :14:15.we have done in the past. Over the last few days we are expected to
:14:16. > :14:19.have spent ?3.2 billion, and that includes today as well. Today we are
:14:20. > :14:24.expecting to spend ?1 billion online, on what is called cyber
:14:25. > :14:31.Monday. That is up 32% compared to last year. Let me talk to Simon. How
:14:32. > :14:35.do you prepare for Christmas? It is all in the planning. We start
:14:36. > :14:41.planning for this in January, the first day back after Christmas. This
:14:42. > :14:45.is 11 months in planning. A lot of investment. ?100 million spent on
:14:46. > :14:51.people, infrastructure, vehicles. We are geared up for it. How much does
:14:52. > :14:56.weather cause chaos? We do not think about it. We get on with it. We deal
:14:57. > :15:04.with what we have got on hand here. The weather is secondary. You deal
:15:05. > :15:10.with doubly mad parcels today? Yes, compared to an average Monday. How
:15:11. > :15:15.much do you feel the pressure of more people buying online? How much
:15:16. > :15:19.more can you expand? It is all in the investment. You are studying the
:15:20. > :15:24.second-largest hub in Europe right now. We have got the first largest
:15:25. > :15:30.one. We are investing in the future. We have no concerns.
:15:31. > :15:36.Steph talking about Cyber Monday and having experienced Black Friday. So
:15:37. > :15:41.the story was this year, of course, much more of the sales... Did you
:15:42. > :15:55.draw straws who did Friday and who did Monday? I came out better. On
:15:56. > :16:04.Friday it was more for online. This is Business Live.
:16:05. > :16:07.Our top story world leaders are to open the UN climate summit in Paris.
:16:08. > :16:10.The meeting will see negotiators from 195 countries try to finalise
:16:11. > :16:14.a new treaty on curbing climate change.
:16:15. > :16:16.With Christmas just round the corner many children will be
:16:17. > :16:20.But amid all the choice, young children are, all too often,
:16:21. > :16:22.being exposed to violent computer games, overly sexual clothing,
:16:23. > :16:25.and many parents worry that the innocence of childhood is being
:16:26. > :16:39.So there's increasing demand for more wholesome toys.
:16:40. > :16:44.So welcome the Lottie doll, it's based on
:16:45. > :16:47.a real nine-year-old and unlike its more famous rival Barbie it doesn't
:16:48. > :16:56.The doll was launched by the British company Arklu and has already won
:16:57. > :16:58.support from campaigners including the Campaign for Body Confidence.
:16:59. > :17:00.She's also been rather popular, Lottie is now available
:17:01. > :17:04.in over 30 countries and 3000 stores around the world.
:17:05. > :17:07.The woman behind the doll is Arklu's cofounder and
:17:08. > :17:17.Along with her business partner, she has built the start up
:17:18. > :17:20.into a global brand by, as she says "letting kids be kids".
:17:21. > :17:30.She has been trying to arrange these without them falling. You have got
:17:31. > :17:38.one to pass me. She is not in the box. It is Phossing hunter mUnl.
:17:39. > :17:43.Explain the dolls because they are on a real nine-year-old girl's body
:17:44. > :17:48.shape. That's correct. But it is not about princesses and that kind of
:17:49. > :17:52.thing solely. As she illustrates, this is about other roles that girls
:17:53. > :17:57.can play. Absolutely. We really wanted to show there are many ways
:17:58. > :18:02.to be a girl. We created a doll body that is based on the average
:18:03. > :18:04.proportions of a nine-year-old girl, Lottie doesn't wear make-up,
:18:05. > :18:12.jewellery or high heels and she is doing all the activities that real
:18:13. > :18:15.kids do. Whether that's karate, sports, ballet, stargazing, fossil
:18:16. > :18:22.hunting, a wide range of things. I didn't do any fossil hunting, did
:18:23. > :18:26.you? The dolls and the storylines that go with them and their career
:18:27. > :18:32.and their interest, it goes from crowd sourcing. You have got kids to
:18:33. > :18:38.tell you what they want the dolls to do? This doll has been designed by a
:18:39. > :18:44.six-year-old girl in Canada called Abigail. Her mother wrote to us
:18:45. > :18:48.saying, "My daughter loves stargazing." We thought there was
:18:49. > :18:51.something in this. Abigail created the clothes ideas and she came up
:18:52. > :18:57.with the ideas for the packaging themes as well. And that's really a
:18:58. > :19:01.big US P of our business, the fact that it is about kids in terms of
:19:02. > :19:08.their own activities, but also their ideas as well. What got you started?
:19:09. > :19:12.Why did you start this business? My business partner and I, Ian, we both
:19:13. > :19:15.saw there was a real need in the market for something that was
:19:16. > :19:20.different. Definitely far more value driven and that parents wanted
:19:21. > :19:27.something more for their kids than was currently out there with other
:19:28. > :19:36.fashion dolls. So we spent 18 months doing a lot of research with
:19:37. > :19:42.parents, retailers, as well as child psychologists and that culminated in
:19:43. > :19:54.Lottie. This is equally applicable to boys when we are talking about
:19:55. > :19:59.body image and for example what Barbie or Cindy, for boys it is
:20:00. > :20:03.Actionman and you have a boy doll Finn and that's based on the same
:20:04. > :20:07.principles, isn't it? We created Finn as a result of e-mails that we
:20:08. > :20:13.received from parents. They were saying, "Both my daughters and sons
:20:14. > :20:20.play with Lottie. We'd love you to create a boy equivalent." So again,
:20:21. > :20:24.we created a boy figure and we really wanted to get him doing all
:20:25. > :20:33.the activities that kids do of that age. Kids enjoy playing with each
:20:34. > :20:39.other. We didn't want to put him in a boyfriend role or anything on this
:20:40. > :20:46.level. How did you get - I know your original background was investment
:20:47. > :20:49.banking... Yes, I escaped How did you come from investment bank to go
:20:50. > :20:53.creating dolls like this? It was through a combination of different
:20:54. > :20:59.factors. It was meeting my business partner Ian. His background was a
:21:00. > :21:03.finance Director of A toy company and together, we met through friends
:21:04. > :21:08.of friends. Went out for an evening back in December 2010 and that was
:21:09. > :21:15.at the time when William and Kate got engaged. I said to Ian, "There
:21:16. > :21:18.is a real opportunity here, we should create a Kate Middleton
:21:19. > :21:23.themed doll and that's what we did. Four months later, no sleep, a huge
:21:24. > :21:27.amount of work, we ended up launching our Kate Middleton themed
:21:28. > :21:33.doll in Hamleys. It went worldwide. Followed up four months later with
:21:34. > :21:37.the royal wedding dolls. We did receive permission from Claudia
:21:38. > :21:42.Lawrence House to do this and gave a charity donation to Help for Heroes
:21:43. > :21:46.and the RNLI, but that gave us the necessary cash and credibility that
:21:47. > :21:50.we could bring a product to market and from that we decided to build
:21:51. > :21:56.our own brand and here we are. Here we are. Lucie we have ran out of
:21:57. > :22:02.time. I was really enjoying playing with this. I wish you had been able
:22:03. > :22:06.to see Sally stroking the hair of that doll the enshire way through.
:22:07. > :22:10.She keeps dropping her magnifying glass this one. But she is great at
:22:11. > :22:15.finding fossils, not that I'm saying anything.
:22:16. > :22:19.Thank you very much for coming in. It has been great to have you on the
:22:20. > :22:23.programme. We will look through the business
:22:24. > :22:28.pages using Sally's magnifying glass! Here is a reminder how you
:22:29. > :22:33.can get in touch. The Business Live page is when you can stay ahead with
:22:34. > :22:37.the day's business news. We will keep you up-to-date with the latest
:22:38. > :22:40.details with an insight and analysis with the BBC's team of editors from
:22:41. > :22:46.around the world. We want to hear from you too. Get involved on the
:22:47. > :22:53.BBC Business Live web page. And on Twitter:
:22:54. > :22:58.You can find us on Facebook. Business Live on TV and online
:22:59. > :23:07.whenever you need to know. That's how to get in touch.
:23:08. > :23:10.Trevor Greetham, Head of multi asset at Royal London Asset Management is
:23:11. > :23:24.The Telegraph talking about how we need to increase taxes. Well, I'm
:23:25. > :23:32.going to focus more on immigration. But the point she is making is there
:23:33. > :23:45.is a limit annually of 20700 tier two visas for skilled workers. 20700
:23:46. > :23:47.is really tiny. She is making the point that middle sized companies
:23:48. > :23:53.which are the backbone of the economy get to be big companies by
:23:54. > :23:55.expanding overseas and one of the UK's great sort of advantages in the
:23:56. > :24:00.world is people want to come to London and they want to come to the
:24:01. > :24:06.UK. So she is saying the cap should be higher. Immigration in general is
:24:07. > :24:11.a way of counter agoing the fact that our societies are ageing and
:24:12. > :24:13.there are a lot of countries Germany and Japan where they are
:24:14. > :24:18.shrelationshipinging the population because the birth rate is too low.
:24:19. > :24:23.Either you have to be open-minded about immigration or make more
:24:24. > :24:29.babies. Let's talk about something entirely
:24:30. > :24:32.different. A great story in the Guardian, the way technology changed
:24:33. > :24:36.the way we do everything, except cook our food. An oven is a thing of
:24:37. > :24:40.the past and there is a proposal here to come up with a 21st century
:24:41. > :24:46.oven. How do you do that? Do you make warming up food a modern
:24:47. > :24:50.technological invention? This leaves me a bit cold actually. One of the
:24:51. > :24:54.things about being alive is cooking badly. It is like going for a walk.
:24:55. > :25:00.It is one of the things that connects you with the real world.
:25:01. > :25:03.This is a Tom and Jerrg style oven of the future. It cooks one steak
:25:04. > :25:08.differently from another steak and it is done perfectly. The one thing
:25:09. > :25:12.it won't do for you is eat it! In the Guardian and if we can look
:25:13. > :25:17.at the story on the tablet is that picture of the lady in the kitchen
:25:18. > :25:22.who looks like I have got her dress on and she is whipping up something
:25:23. > :25:28.for her partner in the background... It is like the 1950s. I feel the
:25:29. > :25:33.Lottie doll coming back to me. One thing that may come out of this is
:25:34. > :25:42.energy efficiency. We have talked about energy efficiency in heating,
:25:43. > :25:46.but cooking uses a lot of energy. If you could do it and it makes the
:25:47. > :25:51.food nice. It doesn't tell you how to cook it, it just warms tup. It
:25:52. > :25:54.would be a bonus for most of us. Trevor, thank you for being on the
:25:55. > :25:57.programme. Thank you for your company. We will be back at the same
:25:58. > :26:13.time, same place tomorrow. Bye-bye. Some fairly high impact weather up
:26:14. > :26:14.and down the UK