30/11/2015 BBC Business Live


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This is Business Live from BBC News with Ben Thompson and Sally Bundock.


Saving our planet - as world leaders gather in Paris to try


and seal a deal on climate change, we'll be looking at the potential


Live from London, that's our top story on 30 November.


If sea temperatures rise by 5-degrees celsius, $7 trillion


But can world economies really come together to agree a plan?


Shop till you drop - the biggest online shopping day


of the year kicks off, with billions of dollars expected to


European markets edging lower for a new week, after falls in China


overnight ahead of the IMF decision over whether to include the yuan


in its basket of global currencies - we'll assess the implications.


And step aside Barbie - there's a new girl in town.


The Lottie doll is based on a a real nine year old and designed


We speak to the creative director of the firm


And just as we're recovering from Black Friday, today is Cyber


Monday, with billions of dollars expected to be spent online today in


Heads of government from across the world,


including Presidents Xi, Obama and Putin, begin hammering out final


negotiations on climate change treaty.


It will be legally binding and in action in 2020.


US Bank Citigroup estimated the cost of doing nothing


If sea temperatures rise by 5-degrees celsius,


it's predicted assets worth $7 trillion could be lost.


That's more than the total market capitalisation


It really does put it into perspective.


And in the US, the White House says inaction would cost


So, are businesses ready to tackle climate change?


What's the impact of climate change going to be for


investors and which businesses will be the winners and losers in the


I'm joined by Tom Burke, former UK Government adviser on climate


change, now chairman of an environmental think tanks. There has


been a loss of momentum leading up to this event in Paris and a lot of


governments represented. Many of them have already put in writing


what their plans are. Surely that bodes for a good conference? I think


you are right about that. We are seeing a much more optimistic view


of actually getting an agreement. Whether that agreement will be


enough, I think we have to wait to see. The French were very smart in


getting the leaders in at the beginning. They are going to turn up


in Paris today, there are going to make a speech declare victory and go


home. That makes it very difficult to bad headlines at the end of the


fortnight. There will be a lot of toing and froing between the people


in Paris and the Capitals at home to make sure that the story stays


consistent. Some of the statistics outline just how catastrophic it


could be if more is not done and quickly to counter climate change.


Businesses want some kind of strong outcome. To some extent more than


organisations like yours, because of the cost to nothing is done? I think


that is right. The impact on the economy of climate change is only


beginning to be understood. There are still a lot of businesses that


have not got their minds around it. There is concern about who is going


to be affected. For the fossil fuel industries it is clearly going to be


negative. But for opportunity seekers, the new battery developers,


the solar entrepreneur is, this would be a good thing. For companies


like Unilever, the big retail companies, climate change is a


threat to their supply chain. They will want to be a much quicker


response by governments. From a practical point of view what do you


think businesses and organisations will be looking at in terms of


policy they will be needing to implement to stick to guidelines set


by national governments? What business most needs from governments


is consistency. There is no one policy everybody needs to adopt


everywhere because circumstances are different. Business communities are


different in different countries. What they need is consistency,


exactly what we have not seen from the British government recently. We


have to leave it there. Thank you for coming in and giving us your


thoughts on this event taking place in Paris. It will be a lead story


for quite some time, I am predicting. Full coverage here on


the BBC. We will talk about it in the course of the week.


In other news, Lufthansa has agreed a pay deal with 30,000 ground staff


The deal gives a one-off payment and a 2.2% pay rise.


who called a week-long industrial action in early November.


Brazil's top banker, Andre Esteves, has resigned as chief executive


of financial giant Grupo BTG Pactual after being jailed


The billionaire dealmaker is suspected, along with a leading


politican, of trying to obstruct an investigation into corruption


Iran has overhauled the way it offers contracts to foreign oil


companies in a bid to attract $30 billion of new investment.


The terms of the new oil contracts will be more favourable to


investors, allowing them a greater stake in long-term profits.


A brand-new trading week has begun. A big player is losing ground in


London. The world's biggest mining company, shares down 2% today, on


the news that Brazilian authorities are likely to have two fine the


likes of BHP and other companies for a devastating mudslide in south-west


Brazil. It happened at an iron ore mine. We have been covering the


story and the indications of all of this. We will -- the company says it


will assess the case but there are implications, not only for people


that died in the disaster, but in terms of financial recompense and


how BHB will put that right. -- BHP. Shares down 2% in response.


The International Monetary Fund is expected to announce that China's


yuan will join its group of reserve currencies.


At the moment only the US dollar, the Euro,


Japan's yen and the British pound are part of this select club.


So what does it mean, how significant is it?


Sharanjit Leyl has the answers for us in our Asia Business Hub


This is something that Christine Digard has been quite seen -- quite


keen to see happen? Absolutely. The yuan may be set to join the big


lead. The International Monetary Fund is very much expected to


announce later that China's currency will join the international reserve


currencies. Only the US dollar, the euro, the yen and the British Pound


are currently part of this very exclusive band of currencies.


Earlier this month Christine LeGarrette Blount the inclusion of


the yuan -- backed the inclusion of the yuan. It is likely to join next


year. China is the world's second-largest economy. It has been


pushing for its currency to become part of this reserve group. There


have been lots of concerns about Beijing keeping the yuan


artificially low to help exporters. That is one of the main reasons why


the currency had previously failed to meet or that criteria set out by


the IMF. Thank you very much. So confirmation of that volatility -


particularly on the Shanghai markets - after suffering their heaviest


losses since the summer rout. It's not on this board,


but the Shanghai index falling 5.5% with most other Asian markets


starting a pretty eventful week on Chinese dealers boosted by


the hopes the IMF will agree to a proposal to include the Chinese yuan


in its basket of elite currencies. That would help Beijing, giving it


more international status, alongside We will look of the European figures


in a moment. What about Wall Street Jim Crow Michelle has the details.


It may be cyber Monday but it is a slow start to the week. However,


there is plenty to look forward to. The National Association real -- the


National Association of Realtors releases monthly figures on the


state of the housing market, which are expected to show a slight


decrease from the previous month. Things pick up through the week and


we have two big clothing firms reporting their earnings, including


American Eagle. Americans will be keen for a rosy forecasts for the


shopping season. At the end of the week of the jobs report is likely to


show more jobs growth. That will help the Fed.


Joining us is Trevor Greetham, Head of multi asset at


Quite a bit on the agenda this week. We have global leaders in Paris,


Opec members meeting to talk about oil, the European Central Bank


meeting to talk about borrowing and possibly more quantitative easing.


It is all going on, isn't it? It is. The main thing the markets are


focused on is the divergence going on across the Atlantic between the


central bank in America, and that is largely expected to raise interest


rates in December, for the first time in 11 years. A lot of traders


were at school the last time. And in Europe they are talking about


printing more money because inflation is so low. That


combination is likely to see another year of strong dollar. That is quite


negative for commodity prices. That plays into oil, doesn't it? The


dollar is getting stronger. No yes. We think that is going to carry on.


As long as you have got America raising interest rates on its own


and commodity prices are falling inflation does not pick up. You get


quite a long business strike -- cycle with of liquidity around and


that will be the story for a a long time. Winners and losers, we often


talk about the losers, but there are some distinct winners? Well, quite.


The bad news comes up front. When the oil price drops, we get profit


warnings from the likes of BP Shell. Russia and Indonesia, big exporters


of oil, it hurts them. The good news comes gradually. It is a bigger


story. It is cheaper to drive your car around, you have more cash left


of the end of the week and that is driving the global consumer. The big


drop in energy prices over the past year is bad news for emerging


economies in general, but it is a strong story for the US consumer.


Trevor, we will see you very soon. More stories to discuss later.


Still to come we meet the doll that's causing a bit of a stir.


The lottie doll is designed to have a more realistic body shape


and has become a major success, with sales now recorded


We'll be speaking to the woman behind the toy later in the show.


You're with Business Live from BBC News.


Now a look at some of the stories from around the UK.


For many Brits, it's the payday before Christmas and so


today has been dubbed Cyber Monday when many of us shop online getting


Experian predicts we'll spend ?943 million today making it the busiest


time of year for retailers and for delivery businesses as


Steph McGovern has been finding out at DHP in Birmingham.


Good morning. I am in one of the 180 vans which is about to leave this


site. The driver is about to head off. He has 110 drops to do. It is a


massive operation. 24,000 parcels they are delivering in this region


on this morning alone. That is double what they would have on a


typical Monday. We are spending a lot more with online shopping then


we have done in the past. Over the last few days we are expected to


have spent ?3.2 billion, and that includes today as well. Today we are


expecting to spend ?1 billion online, on what is called cyber


Monday. That is up 32% compared to last year. Let me talk to Simon. How


do you prepare for Christmas? It is all in the planning. We start


planning for this in January, the first day back after Christmas. This


is 11 months in planning. A lot of investment. ?100 million spent on


people, infrastructure, vehicles. We are geared up for it. How much does


weather cause chaos? We do not think about it. We get on with it. We deal


with what we have got on hand here. The weather is secondary. You deal


with doubly mad parcels today? Yes, compared to an average Monday. How


much do you feel the pressure of more people buying online? How much


more can you expand? It is all in the investment. You are studying the


second-largest hub in Europe right now. We have got the first largest


one. We are investing in the future. We have no concerns.


Steph talking about Cyber Monday and having experienced Black Friday. So


the story was this year, of course, much more of the sales... Did you


draw straws who did Friday and who did Monday? I came out better. On


Friday it was more for online. This is Business Live.


Our top story world leaders are to open the UN climate summit in Paris.


The meeting will see negotiators from 195 countries try to finalise


a new treaty on curbing climate change.


With Christmas just round the corner many children will be


But amid all the choice, young children are, all too often,


being exposed to violent computer games, overly sexual clothing,


and many parents worry that the innocence of childhood is being


So there's increasing demand for more wholesome toys.


So welcome the Lottie doll, it's based on


a real nine-year-old and unlike its more famous rival Barbie it doesn't


The doll was launched by the British company Arklu and has already won


support from campaigners including the Campaign for Body Confidence.


She's also been rather popular, Lottie is now available


in over 30 countries and 3000 stores around the world.


The woman behind the doll is Arklu's cofounder and


Along with her business partner, she has built the start up


into a global brand by, as she says "letting kids be kids".


She has been trying to arrange these without them falling. You have got


one to pass me. She is not in the box. It is Phossing hunter mUnl.


Explain the dolls because they are on a real nine-year-old girl's body


shape. That's correct. But it is not about princesses and that kind of


thing solely. As she illustrates, this is about other roles that girls


can play. Absolutely. We really wanted to show there are many ways


to be a girl. We created a doll body that is based on the average


proportions of a nine-year-old girl, Lottie doesn't wear make-up,


jewellery or high heels and she is doing all the activities that real


kids do. Whether that's karate, sports, ballet, stargazing, fossil


hunting, a wide range of things. I didn't do any fossil hunting, did


you? The dolls and the storylines that go with them and their career


and their interest, it goes from crowd sourcing. You have got kids to


tell you what they want the dolls to do? This doll has been designed by a


six-year-old girl in Canada called Abigail. Her mother wrote to us


saying, "My daughter loves stargazing." We thought there was


something in this. Abigail created the clothes ideas and she came up


with the ideas for the packaging themes as well. And that's really a


big US P of our business, the fact that it is about kids in terms of


their own activities, but also their ideas as well. What got you started?


Why did you start this business? My business partner and I, Ian, we both


saw there was a real need in the market for something that was


different. Definitely far more value driven and that parents wanted


something more for their kids than was currently out there with other


fashion dolls. So we spent 18 months doing a lot of research with


parents, retailers, as well as child psychologists and that culminated in


Lottie. This is equally applicable to boys when we are talking about


body image and for example what Barbie or Cindy, for boys it is


Actionman and you have a boy doll Finn and that's based on the same


principles, isn't it? We created Finn as a result of e-mails that we


received from parents. They were saying, "Both my daughters and sons


play with Lottie. We'd love you to create a boy equivalent." So again,


we created a boy figure and we really wanted to get him doing all


the activities that kids do of that age. Kids enjoy playing with each


other. We didn't want to put him in a boyfriend role or anything on this


level. How did you get - I know your original background was investment


banking... Yes, I escaped How did you come from investment bank to go


creating dolls like this? It was through a combination of different


factors. It was meeting my business partner Ian. His background was a


finance Director of A toy company and together, we met through friends


of friends. Went out for an evening back in December 2010 and that was


at the time when William and Kate got engaged. I said to Ian, "There


is a real opportunity here, we should create a Kate Middleton


themed doll and that's what we did. Four months later, no sleep, a huge


amount of work, we ended up launching our Kate Middleton themed


doll in Hamleys. It went worldwide. Followed up four months later with


the royal wedding dolls. We did receive permission from Claudia


Lawrence House to do this and gave a charity donation to Help for Heroes


and the RNLI, but that gave us the necessary cash and credibility that


we could bring a product to market and from that we decided to build


our own brand and here we are. Here we are. Lucie we have ran out of


time. I was really enjoying playing with this. I wish you had been able


to see Sally stroking the hair of that doll the enshire way through.


She keeps dropping her magnifying glass this one. But she is great at


finding fossils, not that I'm saying anything.


Thank you very much for coming in. It has been great to have you on the


programme. We will look through the business


pages using Sally's magnifying glass! Here is a reminder how you


can get in touch. The Business Live page is when you can stay ahead with


the day's business news. We will keep you up-to-date with the latest


details with an insight and analysis with the BBC's team of editors from


around the world. We want to hear from you too. Get involved on the


BBC Business Live web page. And on Twitter:


You can find us on Facebook. Business Live on TV and online


whenever you need to know. That's how to get in touch.


Trevor Greetham, Head of multi asset at Royal London Asset Management is


The Telegraph talking about how we need to increase taxes. Well, I'm


going to focus more on immigration. But the point she is making is there


is a limit annually of 20700 tier two visas for skilled workers. 20700


is really tiny. She is making the point that middle sized companies


which are the backbone of the economy get to be big companies by


expanding overseas and one of the UK's great sort of advantages in the


world is people want to come to London and they want to come to the


UK. So she is saying the cap should be higher. Immigration in general is


a way of counter agoing the fact that our societies are ageing and


there are a lot of countries Germany and Japan where they are


shrelationshipinging the population because the birth rate is too low.


Either you have to be open-minded about immigration or make more


babies. Let's talk about something entirely


different. A great story in the Guardian, the way technology changed


the way we do everything, except cook our food. An oven is a thing of


the past and there is a proposal here to come up with a 21st century


oven. How do you do that? Do you make warming up food a modern


technological invention? This leaves me a bit cold actually. One of the


things about being alive is cooking badly. It is like going for a walk.


It is one of the things that connects you with the real world.


This is a Tom and Jerrg style oven of the future. It cooks one steak


differently from another steak and it is done perfectly. The one thing


it won't do for you is eat it! In the Guardian and if we can look


at the story on the tablet is that picture of the lady in the kitchen


who looks like I have got her dress on and she is whipping up something


for her partner in the background... It is like the 1950s. I feel the


Lottie doll coming back to me. One thing that may come out of this is


energy efficiency. We have talked about energy efficiency in heating,


but cooking uses a lot of energy. If you could do it and it makes the


food nice. It doesn't tell you how to cook it, it just warms tup. It


would be a bonus for most of us. Trevor, thank you for being on the


programme. Thank you for your company. We will be back at the same


time, same place tomorrow. Bye-bye. Some fairly high impact weather up


and down the UK


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