:00:11. > :00:13.This is Business Live from BBC News, with Ben Thompson and
:00:14. > :00:18.From China to the US, countries are vying for a slice of the action and
:00:19. > :00:20.now African leaders are pitching their most bankable projects
:00:21. > :00:47.Live from London, that's our top story on Tuesday December 1st.
:00:48. > :00:49.Africa is the world's fastest-growing region
:00:50. > :00:52.for new foreign direct investment and today presidents from Malawi to
:00:53. > :00:55.Mauritius, Uganda to Ghana will all competing for a slice of the $7
:00:56. > :00:59.The Bank of England releases the results
:01:00. > :01:02.of its latest round of stress tests - it finds Royal Bank of Scotland
:01:03. > :01:12.and Standard Chartered the weakest of Britain's seven largest lenders.
:01:13. > :01:17.And as always we will show you the winners and losers on the European
:01:18. > :01:19.markets, following the gains in Asia.
:01:20. > :01:21.And we'll examine the business of the box office.
:01:22. > :01:24.The man behind The Hunger Games, The Twilight Saga and The Day After
:01:25. > :01:31.Zygi Kamasa is the UK boss of entertainment giant Lionsgate.
:01:32. > :01:34.And as the climate change conference continues in Paris, we want to know
:01:35. > :01:37.what's the one thing you'd change to help the environment?
:01:38. > :01:40.Use more public transport, cut down on your energy use, or recycle more?
:01:41. > :02:13.Let us know, use the hashtag #BBCBizLive.
:02:14. > :02:17.It seems like the smart money has its eyes firmly on Africa when it
:02:18. > :02:19.Google's ploughed millions into the continent and China
:02:20. > :02:22.and the US are falling over each other to lay their stake.
:02:23. > :02:25.Now the heads of state from 10 African countries, from Malawi to
:02:26. > :02:28.Mauritius, to Uganda and Ghana, are here in London to present their
:02:29. > :02:31.countries most bankable projects to investors at the Global African
:02:32. > :02:33.Investment Summit - $7-billion of investment is up for grabs.
:02:34. > :02:35.Africa enjoyed a 65% increase in new capital investment in 2014,
:02:36. > :02:49.with foreign direct investment totalling an estimated $87-billion.
:02:50. > :02:51.Now a lot has been made of Chinese investment in the continent.
:02:52. > :02:55.But as you can see here, they in fact only just make it into the top
:02:56. > :03:06.Greece, I don't know where it gets the money from, but it is number two
:03:07. > :03:07.on the list! Despite the recent instability
:03:08. > :03:10.in the country, Egypt is still the number one destination
:03:11. > :03:12.for that money, with Angola As you might expect,
:03:13. > :03:30.a lot of that money is going into the oil and gas sectors,
:03:31. > :03:33.but investment in real estate and communication infrastructure
:03:34. > :03:35.and technology is also on the rise. Ivor Ichikowitz is the chairman
:03:36. > :03:38.and founder of Paramount Group. It's
:03:39. > :03:43.the largest privately-owned defence Nice to see you. Parent breaking
:03:44. > :03:46.down some of the numbers there but what I would like to start with, if
:03:47. > :03:49.you can give us an idea, breakdown Africa for us because there is still
:03:50. > :03:53.being awful tendency for many people to think of Africa as a country, but
:03:54. > :03:57.it is a continent made of so many different countries. 54 countries,
:03:58. > :04:01.every single one different from a different banality, different
:04:02. > :04:05.mindset, different opportunities, different people and different
:04:06. > :04:10.energy, it is an incredibly alive, energetic continent, and the West
:04:11. > :04:13.tends to see it as one country. Such a mistake. What are the different
:04:14. > :04:17.opportunities? If you look at something on the scale of the
:04:18. > :04:20.continent, so many different countries, different natural
:04:21. > :04:25.resources, different populations, different economies, how did you
:04:26. > :04:28.know as an investor where those opportunities are? Part of the
:04:29. > :04:37.problem with Africa is it is so huge, so many different things that
:04:38. > :04:42.you have to access, people think of it as a homogenous mass and they see
:04:43. > :04:45.places like Egypt or Morocco as access points. Opportunities are in
:04:46. > :04:50.every sector, we have one of the biggest growing populations in the
:04:51. > :04:54.world. More than 1 billion people, 50% of which are under the age of
:04:55. > :04:58.25. Can you imagine where that is going to go in the next ten years?
:04:59. > :05:03.Investors today need to look at Africa not for what it is today but
:05:04. > :05:07.what it will become in the next ten years, and I think the investment
:05:08. > :05:11.opportunities, luxury goods, real estate, telecommunications, where
:05:12. > :05:17.they are not today is extracted industries because I think they are
:05:18. > :05:20.going down and we need to focus on industrialisation, creating jobs.
:05:21. > :05:24.You just took the words out of my mouth! That is one of the issues,
:05:25. > :05:29.you have got to create jobs in that economy. The people you just
:05:30. > :05:35.mentioned, a big part of that would be manufacturing. Taking natural
:05:36. > :05:39.resources to the next level and ultimately finishing the project but
:05:40. > :05:43.it is not always in the interest of our major investors because they
:05:44. > :05:46.want raw materials to feed their industries abroad. We need
:05:47. > :05:51.partnerships between African investors, foreign investors to
:05:52. > :05:56.create opportunities in Africa so we can create finished projects and
:05:57. > :06:02.access the rest of the world while we give those partners access to our
:06:03. > :06:05.markets as well. Many investors say the deterrent is that so much is
:06:06. > :06:10.having to be invested in security across Africa to make sure that
:06:11. > :06:20.assets are kept safe, is that still the case when it comes to this? This
:06:21. > :06:26.is one of my personal interests, my company has invested all over the
:06:27. > :06:30.ball but our biggest focus has been helping governments to create
:06:31. > :06:34.institutions of security to protect assets that foreign investors are
:06:35. > :06:38.investing in and encourage Africans to invest in their own economy and
:06:39. > :06:43.assets that their Government can predict and feel comfortable in. It
:06:44. > :06:49.is the biggest and most important issue and the world needs to embrace
:06:50. > :06:54.it. It is the absolute key for us. Good to talk to you, I know that you
:06:55. > :06:57.were at the summit later today. Good luck with it.
:06:58. > :07:01.A BBC investigation has uncovered evidence of corruption and bribery
:07:02. > :07:05.Panorama found British American Tobacco paid bribes
:07:06. > :07:12.to politicians and civil servants in countries across east Africa.
:07:13. > :07:14.The illegal payments even undermined a UN initiative
:07:15. > :07:18.The company could face prosecution around the world
:07:19. > :07:25.BAT says it does not tolerate corruption.
:07:26. > :07:28.Japan's largest media group, Nikkei, has completed its purchase of the
:07:29. > :07:32.It's the biggest international acquisition
:07:33. > :07:35.Online subscriptions now account for around 70%
:07:36. > :07:38.While questions have been raised about editorial independence,
:07:39. > :07:52.the FT's chief executive believes the acquisition is a good fit.
:07:53. > :08:00.A busy day of corporate news, plenty of details on the Business Live
:08:01. > :08:05.page. We have been talking about the stress test, these are the stress
:08:06. > :08:08.tests that the Bank of England puts UK banks under. All of them passing
:08:09. > :08:13.today but two examples where they have called for more help and
:08:14. > :08:18.certainly more resilience, down to the economy, low oil prices, that
:08:19. > :08:22.sort of thing. And some stories in the UK, we have heard from Ofcom
:08:23. > :08:34.about whether it should break up ET, British Telecom, the former
:08:35. > :08:39.owned company. Sharon White discussing whether Open Reach should
:08:40. > :09:08.be broken up. We
:09:09. > :09:12.the service sector is on the up, which is what Beijing
:09:13. > :09:17.trying to do? Yes, it is in the midst of this
:09:18. > :09:22.rebalancing from a manufacturing and investment led a corner me to one
:09:23. > :09:26.more investment on services. That in itself must be giving some comfort
:09:27. > :09:30.to the power that be back in Beijing. But you cannot ignore the
:09:31. > :09:34.fact that the Chinese economy is heading for its slowest growth in a
:09:35. > :09:41.quarter of a century and many economists are concerned that the
:09:42. > :09:42.mad of data we are getting every week, we get it so much, that it
:09:43. > :09:52.will miss the data of -- the of 7%, which it has to hit to create
:09:53. > :09:55.jobs for millions of Chinese people. Let's not forget
:09:56. > :09:59.manufacturing sector is still a key gauge of how the economy is doing
:10:00. > :10:09.and no doubt the country is trying to transition and rebalance itself
:10:10. > :10:12.but it is still the driving force of economic grave and can create so
:10:13. > :10:20.many jobs for people around the country.
:10:21. > :10:27.Let's stay with the markets, Nico, the Hang Seng, not doing too bad.
:10:28. > :10:32.Investors are looking at the fact that the decline I mentioned is
:10:33. > :10:37.actually slowing, which could suggest all those measures taken by
:10:38. > :10:40.the officials in Beijing have started to serve their purpose as
:10:41. > :10:51.the economy shows signs of possibly levelling out.
:10:52. > :10:55.Let's look at the European markets, doing as what -- doing what we
:10:56. > :11:04.expected, tracking those Asian games. That is what is happening on
:11:05. > :11:05.the European markets. Let's find out what should be making headlines of
:11:06. > :11:08.the other side of the Atlantic. Here she is, let's go straight
:11:09. > :11:17.over to Michelle in NY. Ahead of Friday's jobs report, the
:11:18. > :11:20.snapshot of manufacturing will keep investors busy. The manufacturing
:11:21. > :11:25.index is raised on Tuesday and weak global demand and the strong dollar
:11:26. > :11:28.are believed to have had an impact. While it is unlikely to affect the
:11:29. > :11:33.timing of the Federal Reserve's first interest rate rise, it could
:11:34. > :11:38.affect the pace and size of future moves. For car-makers 2015 has been
:11:39. > :11:45.strong, but will it end with a bang or a whimper? Monthly sales figures
:11:46. > :11:48.are due out and there are signs that auto-makers are spending more to
:11:49. > :11:53.market their cars to ensure that consumers continue to buy cars at a
:11:54. > :11:57.fast rate. America's number two grocery chain will put its
:11:58. > :11:59.popularity with Wall Street to the test by going public, expecting to
:12:00. > :12:02.raise as much a $7 billion. Joining us is Jeremy Cook, chief
:12:03. > :12:14.economist at World First. A busy day in terms of statistics
:12:15. > :12:19.and figures, German unemployment, diverse and unemployment, UK and US
:12:20. > :12:22.manufacturing. Let's look at unemployment first, we have seen big
:12:23. > :12:27.swings in Europe in terms of who is doing better than others. Where are
:12:28. > :12:32.we now? We are in a position, you rose and unemployment is 10%,
:12:33. > :12:39.looking at that compared to the US and UK, still almost double the
:12:40. > :12:45.levels we are seeing in those other economies, still dangerously high
:12:46. > :12:53.levels in Greece, Spain still in the high 20s, so broad swathes of huge
:12:54. > :12:59.unemployment. The refugee crisis in Europe makes an interesting
:13:00. > :13:01.dynamic, people looking to come to settle to gain work. What does it
:13:02. > :13:08.mean for you rose and employment? That will be key in 2016. The
:13:09. > :13:16.European Central Bank watching this closely, what are we expecting, any
:13:17. > :13:20.more announcements, the big bazooka? Exactly, how big can they
:13:21. > :13:25.go? More negative rates on deposits to try to get banks lending,
:13:26. > :13:32.possibly more quantitative easing, getting around these numbers, 30, 30
:13:33. > :13:36.5 billion euros extra a month for an extra 12 month. They have two hit it
:13:37. > :13:41.hard to weaken the euro. What is 35 billion euros between friends?!
:13:42. > :13:47.Thank you for now. He's the man
:13:48. > :13:58.behind the Hunger Games trilogy and Bend It Like Beckham, but is it all
:13:59. > :14:01.Hollywood glamour and red carpet premieres for the man in charge
:14:02. > :14:04.of production company Lionsgate? He'll be with us later
:14:05. > :14:06.in the programme. You're with Business Live from
:14:07. > :14:07.BBC News. This morning Britain's seven largest
:14:08. > :14:10.lenders have been put through their paces in a Bank of England
:14:11. > :14:12.stress test. Royal Bank of Scotland and Standard
:14:13. > :14:16.Chartered were the weakest. They did still pass the test,
:14:17. > :14:19.but were found not to have enough It's the second year the
:14:20. > :14:22.Central Bank has subjected the UK's biggest lenders to tests to measure
:14:23. > :14:25.whether they would survive This time, it was assumed that oil
:14:26. > :14:29.had fallen to $38 a barrel and that John Thanassoulis is Professor
:14:30. > :14:46.of Financial Economics at Well done!
:14:47. > :14:52.He says overall it was a good result.
:14:53. > :14:56.There were no big surprises. What it shows is we're out of the financial
:14:57. > :15:00.crisis, so all of the banks have passed, although two came close to
:15:01. > :15:05.not perfect, boil bags and and Standard Chartered, but they were
:15:06. > :15:09.let three because they have plans to raise capital -- Royal Bank of
:15:10. > :15:13.Scotland and Standard Chartered. This was about checking whether they
:15:14. > :15:17.would be robust too, in particular, big problems in China and emerging
:15:18. > :15:22.markets, which is why Standard Chartered, which does a lot of
:15:23. > :15:26.business out there, was called up. What is interesting, we are not so
:15:27. > :15:31.far out that the bank of England wanted to start raining in any of
:15:32. > :15:40.the banks, no move on the capital before or buy to let lending.
:15:41. > :15:42.Heathrow should be allowed to add a third runway
:15:43. > :15:45.if it can prove it won't make air and noise pollution worse.
:15:46. > :15:53.The Environmental Audit Committee also wants a ban on night flights.
:15:54. > :15:56.The government has yet to confirm which airport it wants to expand
:15:57. > :16:00.If you like your super-fast broadband maybe hold off
:16:01. > :16:03.Watchdog Ofcom is warning that festive fairy lights can actually
:16:04. > :16:11.They are launching an app that can check home broadband, along with
:16:12. > :16:16.research that suggests wi-fi in six million homes and offices is
:16:17. > :16:38.not running as fast as it could do possibly because of interference
:16:39. > :16:43.from other electronic devices such as baby monitors, microwaves.
:16:44. > :16:50.Our top story, the big grab for investment in Africa. We have got
:16:51. > :16:54.the big African summit here. $7 billion of investment money up for
:16:55. > :16:58.grabs. Leaders from African countries making their stake for the
:16:59. > :17:04.money with investors and trying to encourage them, of course, to invest
:17:05. > :17:07.in partnerships. It is about partnerships, not necessarily direct
:17:08. > :17:09.investment, but working with local authorities to improve
:17:10. > :17:14.infrastructure and telecoms. Some of the key areas for investment.
:17:15. > :17:18.The number two country investing out of Europe, no, out of the world
:17:19. > :17:24.investing in Africa? I should have been paying attention! Greece.
:17:25. > :17:27.Greece. I'm not saying anymore. The business, the movie business, the
:17:28. > :17:32.movie business is known for taking no prisoners.
:17:33. > :17:35.And for those that do try their hand at it, success is often fleeting.
:17:36. > :17:38.Not so for Zygi Kamasa, the UK chief executive of entertainment company
:17:39. > :17:41.Lionsgate, he made his first movie in 1995 and in an innovative bid to
:17:42. > :17:48.keep it "ultra-low budget," he raised the money for it through
:17:49. > :17:50.crowd funding, an unknown concept at the time.
:17:51. > :17:57.the independent film distribution company Redbus Film in 1995
:17:58. > :17:59.which was behind the blockbuster hit Bend It Like Beckham.
:18:00. > :18:02.Ten years later he sold Redbus Film to Lionsgate Entertainment Over
:18:03. > :18:06.his career he has overseen the investment, production,
:18:07. > :18:13.and distribution of over 350 films including some real big hitters like
:18:14. > :18:15.The Expendables one and two, The Hunger Games and its sequels,
:18:16. > :18:26.His films have earned 14 Oscar wins and 11 Bafta wins.
:18:27. > :18:36.Zygi Kamasa Zygi Kamasa, the Chief Executive of Lionsgate UK and Europe
:18:37. > :18:39.is with news the studio. Congratulations on the success.
:18:40. > :18:43.There is a tendency, isn't there, when you look at a list of films
:18:44. > :18:47.that you have dealt with, they are all sequels, they are trilogies,
:18:48. > :18:50.they are films that have run before. There is that criticism, isn't
:18:51. > :18:55.there, film companies aren't taking new risks and they are not looking
:18:56. > :18:58.for new stuff, it is about more of the old trusted, tested, reliable
:18:59. > :19:05.stuff S that fair? There has been a huge in the last five to ten years
:19:06. > :19:14.of repo deucing moviesment the Hunger Games, there was three books.
:19:15. > :19:19.We made it into four films. Fans wants to the whole trilogy of books
:19:20. > :19:25.made into films. I don't think you can offer one type. We make
:19:26. > :19:30.independent British films Bend It Like Beckham. We have a beautiful
:19:31. > :19:33.Irish film out now. You have to offer people diversity to give
:19:34. > :19:37.people a choice. To get into the industry and it is a quote you once
:19:38. > :19:42.said. Did you have always have a passion for film and movies, you
:19:43. > :19:46.said to get into the industry, you have got to do it, go and make a
:19:47. > :19:50.movie? When I started my career, I was an entrepreneur who wanted to
:19:51. > :19:54.get into the film business. I didn't have any training. I met someone who
:19:55. > :19:59.said this is an idea of crowd funding. I thought it would be a fun
:20:00. > :20:04.idea to get people to invest ?1,000 to partly to invest in it and to
:20:05. > :20:08.appear in the movie. They were always extras in my first film in
:20:09. > :20:12.1995. Talk us through the crowd funding
:20:13. > :20:17.idea. As we said, almost unheard of in 1995 in terms of looking for
:20:18. > :20:22.other people as a source of funding, not necessarily meaning to the
:20:23. > :20:27.banks. How did that work? How did it go? Well, it was difficult once the
:20:28. > :20:31.film was completed, what you ended up finding is there is 300 or 400
:20:32. > :20:37.films made every year and crowd funding, it gave us the opportunity
:20:38. > :20:42.to make the film and my, I made three films between 1995 and 1997.
:20:43. > :20:47.One was profitable and the other two lost money. It gave the investors, I
:20:48. > :20:50.did it through a tax break which was the early days of ES and the
:20:51. > :20:54.investors got a tax break and none of them lost any money which in the
:20:55. > :20:58.film business is a good thing to begin with.
:20:59. > :21:02.I want to talk about what we are seeing in and the way we are
:21:03. > :21:07.receiving our content as consumers and there is a lot of good
:21:08. > :21:10.television out there. There is a series that everybody wants to get
:21:11. > :21:19.into and watch. What impact is that having on film? Lionsgate is
:21:20. > :21:23.involved in film? The Mad Men TV series which finished and Nashville
:21:24. > :21:27.on Channel 4 and Manhattan and various TV shows. It is a big draw
:21:28. > :21:31.for consumers today. It is becoming harder and harder to get consumers
:21:32. > :21:35.to leave their comfortable lounge with a huge TV, where they have the
:21:36. > :21:39.choice of TV series, you know, at the touch of a button now which is
:21:40. > :21:45.why I think movies have been split in the last couple of years between
:21:46. > :21:49.the big spectacles, the Hunger Games and the Bonds where people have to
:21:50. > :21:59.go and see it and the smaller, intimate, dramas and our
:22:00. > :22:12.that clearly helping to a certain extent. Talk us through what the UK
:22:13. > :22:17.means for your business? Not only for audiences, but making films
:22:18. > :22:22.here. The UK staging a resurgence? I think the UK sector is one of the
:22:23. > :22:23.strongest production sectors in the world right now. It is one of the
:22:24. > :22:27.best places in the world to make movies. The tax credit is a huge
:22:28. > :22:34.boost for the industry. Right now, Star Wars are making three movies.
:22:35. > :22:36.Harry Potter are booked up for the next three years and Mission
:22:37. > :22:40.Impossible and they are all come together UK and it is circular, it
:22:41. > :22:43.encourages the film crew to become better and better, work on the
:22:44. > :22:47.better movies and they are now the best crew in the world, I think the
:22:48. > :22:53.British crew and that's going to carry on for the next few years. We
:22:54. > :22:55.could talk all day about it. Thank you very much, Zygi Kamasa, the boss
:22:56. > :23:06.of Lionsgate in the UK. In a moment, we'll take a look
:23:07. > :23:09.through the business pages of the newspapers, but first, as part of
:23:10. > :23:12.the BBC's 100 women series, we've been meeting young businesswomen
:23:13. > :23:14.from around the world. Samantha John is
:23:15. > :23:16.the chief technology officer It's a mobile app enabling children
:23:17. > :23:19.to create So what advice does she have
:23:20. > :23:26.for others? As a female engineer sometimes there
:23:27. > :23:34.is a higher bar for people to take you seriously. We make an app called
:23:35. > :23:38.Hopscotch. It allows anyone to easily create their own programmes
:23:39. > :23:42.on the iPad. Right now a lot of kids use T they are fearless. They will
:23:43. > :23:49.just dive into something and start programming because no one told them
:23:50. > :23:52.they can't. I'm Samantha John. I'm 29. My business is called Hopscotch
:23:53. > :24:02.Technologies. Jeremy Cook from World First is
:24:03. > :24:13.joining us again to discuss. Toy makers are tracking more data
:24:14. > :24:19.about kids. We know what valuable information we would have as adults
:24:20. > :24:23.hackers are interested in. What information do they want about kids?
:24:24. > :24:29.Your ability to put in your name and your age and the names of your best
:24:30. > :24:33.friends and if there is location taggen on that as there are tweets
:24:34. > :24:36.and Facebook statuses for us adults. There maybe for uploading photos of
:24:37. > :24:40.you playing in the garden and that thing. It seems to be that the
:24:41. > :24:44.hackers out there at the moment don't quite know how to use what
:24:45. > :24:48.they have got. Hacking can be from the various means and they can make
:24:49. > :24:53.life more difficult for people, but staoumts it is purely for extortion
:24:54. > :24:58.and cash and that's maybe the dark underbelly of this is our children
:24:59. > :25:04.in the future will be targeted as a plaquemail option.
:25:05. > :25:13.There is no avoiding it. I can imagine it. Unless every kid gets a
:25:14. > :25:16.Slinky for Christmas. I love the Slinky.
:25:17. > :25:23.Just talk us through what we are looking at. This is from HSBC,
:25:24. > :25:31.apparently. This is a chart from HSBC plotting the productivity of a
:25:32. > :25:35.person over their life cycle. As you can see, you reach your marginal
:25:36. > :25:39.peak in the early 30s and late 20s and you top out when you start
:25:40. > :25:44.spending your money as you probably retire and it is a very quick decent
:25:45. > :25:47.to retirement. Our entire life in terms of money, earnings,
:25:48. > :25:53.productivity, and there you can see that downward spiral. It is a pretty
:25:54. > :25:58.big and pretty fast downward spiral. You tail off quickly. It is not, it
:25:59. > :26:02.is the 1st December. It shouldn't be too depressing.
:26:03. > :26:03.Jeremy, that's it from us. We will see you soon. Thank you for your
:26:04. > :26:08.company. Bye-bye.