:00:09. > :00:14.Business live, from the BBC, with Ben Thompson and Sally Baldock,
:00:15. > :00:18.president Barack Obama hails the climate deal as a turning point, but
:00:19. > :00:20.at the cost of billions of dollars, can the agreement ever succeed? Live
:00:21. > :00:45.from London, that is the top story. Nearly 200 countries agree a
:00:46. > :00:50.landmark deal to cut emissions but how will it affect business and is
:00:51. > :00:52.there the collective will to put that theory into practice? We will
:00:53. > :01:01.have those questions answered shortly. Also, can you feel the
:01:02. > :01:04.Force? Disney certainly can. They are expecting to make hundreds of
:01:05. > :01:11.millions of dollars from the latest Star Wars movie. And the
:01:12. > :01:17.rollercoaster has begun. Asian markets were headed lower. Europe is
:01:18. > :01:34.going higher. What will they do this week? And making millions out of
:01:35. > :01:39.mixers. The boss of Fever Tree joins us. And as the interest rates creep
:01:40. > :01:42.up, we want to know whether America will raise the cost of borrowing for
:01:43. > :01:56.the 1st time since 2006. Let us know.
:01:57. > :02:07.It is a packed programme. A very warm welcome. As the dust settles on
:02:08. > :02:10.the landmark climate deal in Paris, businesses are assessing how it will
:02:11. > :02:16.impact their operations. 200 countries took part in the
:02:17. > :02:21.negotiations, striking the 1st deal to commit all nations to cut
:02:22. > :02:26.emissions. As Ms leaders have already called for more action, the
:02:27. > :02:29.Confederation of British industry called for an environment that
:02:30. > :02:38.enables investment in clean, secure energy. The climate group and
:02:39. > :02:43.business partners called it a victory for science and division
:02:44. > :02:50.which calls time on the fossil fuel age. Barack Obama said the deal is
:02:51. > :03:00.the best chance we have to save the 1 planet we have, which could be a
:03:01. > :03:04.turning point. And China and India hailed the deal. Campaigners said
:03:05. > :03:11.this did not go far enough. Friends of the Earth urged that energy
:03:12. > :03:15.efficiency and renewable power efficiency and renewable power
:03:16. > :03:23.should form the backbone. Some politicians have undermined
:03:24. > :03:30.investment in these areas. Let's take you to Mumbai. This historic
:03:31. > :03:37.deal being hailed as something which will make a huge difference. India
:03:38. > :03:44.were pushing for a differentiation between emerging economies and
:03:45. > :03:50.developed. More help for emerging economies in terms of looking for
:03:51. > :03:55.alternative sources. That is what the Indian government seem pleased
:03:56. > :03:58.about, they said there were no winners or losers in Paris. The
:03:59. > :04:03.Environment Minister said what they are extremely satisfied with is the
:04:04. > :04:15.differentiation in the wording of the deal for developed countries.
:04:16. > :04:23.India needs to burn coal for it to grow. But they have committed to
:04:24. > :04:29.doing is reducing the intensity with which these will grow. Not everyone
:04:30. > :04:37.is happy. Lots of campaigners said this was a week and unambitious
:04:38. > :04:40.deal. They are saying it is discharging developing countries of
:04:41. > :04:51.their historic responsibilities. They say from 1965 until 2014 India
:04:52. > :05:02.only contributed 3% of greenhouse emissions, whereas the US has more
:05:03. > :05:11.of a responsibility. Developing countries have gained from this.
:05:12. > :05:21.What our businesses saying about what will change for them? How will
:05:22. > :05:30.they respond to this? It is about a source of power. The big plan the
:05:31. > :05:36.government has, they said they have set out $2.5 trillion. People are
:05:37. > :05:45.talking about hundred billion dollars of funds. It does not seem
:05:46. > :05:58.to be enough and there is not a proper road map. Business leaders
:05:59. > :06:03.have recognised the responsibility, 1 of the biggest IT companies in the
:06:04. > :06:11.country have said they recognise responsibilities but there are needs
:06:12. > :06:21.to be gradual. They cannot stop it cutting emissions any time soon.
:06:22. > :06:28.Thank you very much. Other stories, starting with Twitter, which has
:06:29. > :06:31.sent warnings to number of users that their accounts have been hacked
:06:32. > :06:40.by what they as state-sponsored actors. The Chinese and North Korean
:06:41. > :06:49.governments are believed to be responsible. Business confidence
:06:50. > :06:56.held steady. Some fear that it will not last. The bank of Japan has
:06:57. > :07:01.shown that major companies stood at plus 12.
:07:02. > :07:09.nationalising the nuclear submarines business of Rolls-Royce, according
:07:10. > :07:12.to the Financial Times, it is worried that the whole company could
:07:13. > :07:16.be vulnerable to a takeover bid from a foreign investor despite
:07:17. > :07:21.safeguards put in place when it was privatised in 1987, it is still
:07:22. > :07:21.concerned about who may end up servicing the country's nuclear
:07:22. > :07:33.submarines. And the live bait, a couple here,
:07:34. > :07:37.one about the deposed move of HSBC, certainly, the rumoured move of
:07:38. > :07:42.whether the bank could move its headquarters, many expect that it
:07:43. > :07:48.would move to Hong Kong, HSBC, as it points out, making 80% of its
:07:49. > :07:52.profits in Asia. The bit of a giveaway! Where might they be
:07:53. > :07:59.thinking? Possibly Canada is one option, considering moving the
:08:00. > :08:03.headquarters, where will it move. I wonder what the staff are thinking
:08:04. > :08:06.about all of this. Hong Kong or Canada? I think that I would choose
:08:07. > :08:15.Canada... Get in touch, if you live in Hong
:08:16. > :08:22.Kong, or Canada. Which one would be better. A quick look at
:08:23. > :08:29.stories here, this picture there, Peppa the Pig, which owns
:08:30. > :08:31.entertainment one, its shares are down 20%, at the same monthly
:08:32. > :08:47.interest payments would be down. I have watched it... It is great.
:08:48. > :08:55.You have a Nice, she is very cute. China has been making the headlines
:08:56. > :09:06.for all of the wrong reasons. A glimmer of hope when it comes to the
:09:07. > :09:10.Chinese growth story. Good economic data out of China over the weekend.
:09:11. > :09:15.Retail sales, strongest game this year, fixed asset investment,
:09:16. > :09:19.beating market expectation, it shows that all of these stimulus measures
:09:20. > :09:23.that the Chinese government rolled out over the past year to prop up
:09:24. > :09:28.the world's second-largest economy may finally be working. We six
:09:29. > :09:35.interest rate cuts since last year, and most of those investment, just
:09:36. > :09:36.last week, Friday, the economy is slowing, growth will fall to its
:09:37. > :09:38.slowest pace this positive data has eased some of
:09:39. > :09:53.the worries, China anticipated, analysts are still
:09:54. > :09:57.hoping for even more measures from China. Good to see you, thank you
:09:58. > :10:00.for the update on China. Did not help markets across Asia, and
:10:01. > :10:07.closing down, at one point it was down 3% today, Hong Kong also lower,
:10:08. > :10:17.that is the close in the US on Friday. Jitters about the Fed 's
:10:18. > :10:22.decision this -- midweek setting in. The oil price is continuing to
:10:23. > :10:26.retreat. Let's look at Europe, let's not forget, European markets have a
:10:27. > :10:28.pretty torrid Friday, ending the week 4% lower, some of the markets,
:10:29. > :10:35.as you can see, a bit of a bounce back across the board in Europe,
:10:36. > :10:37.various companies coming up with announcements, among them,
:10:38. > :10:42.AstraZeneca, saying that they are in talks with an over-the-counter trug
:10:43. > :10:46.developer in the United States. Corporate new is out there today.
:10:47. > :10:52.Let's look ahead to what is going on on Wall Street. Last week the US
:10:53. > :10:57.market was hit with its worst weekly loss since the
:10:58. > :11:00.question, how will the markets respond this week, especially with
:11:01. > :11:04.the Fed's looming interest rate decision on Wednesday, there will be
:11:05. > :11:08.a whole host of economic data for investors to take him, figures out
:11:09. > :11:16.Tuesday are likely to show that consumer price has increased, only
:11:17. > :11:18.slightly, and analysts predict industrial production data will show
:11:19. > :11:23.that it has dropped for the third straight month in November. And a
:11:24. > :11:29.pharmaceuticals Chief Executive is going to hold a meeting for hundreds
:11:30. > :11:34.of investors on Thursday, Canadian company's stock -based world drops
:11:35. > :11:36.after under scrutiny, for billing practices at a specialty pharmacy
:11:37. > :11:44.and for hiking up prices. She will be speaking about Star Wars
:11:45. > :11:49.for us later. Richard Hunter has joined us, head of equities, let's
:11:50. > :11:55.talk Fed, because finally, we are in that week, we will question whether
:11:56. > :11:59.the cost of borrowing will be raised by the US, but it is coming at a
:12:00. > :12:02.time when we have seen such volatility, not least with
:12:03. > :12:08.commodities markets. Pretty weak market, last week, as we were just
:12:09. > :12:13.mentioning, a lot of that down to commodities prices, the main culprit
:12:14. > :12:16.was probably oil, a massive global glut, Opec said a couple of weeks
:12:17. > :12:21.ago that it will continue at production level, there is more due
:12:22. > :12:25.on stream next year, around 40 bucks a barrel, some people are beginning
:12:26. > :12:31.to question whether it is viable to continue to do that, and get stuff
:12:32. > :12:34.out of the ground. All of that is deflationary, that is not the
:12:35. > :12:37.environment where we would be looking to raise interest rates,
:12:38. > :12:41.that being said, the US is the world biggest economy, and there is
:12:42. > :12:44.probably a 75% chance at least that we will see some kind of like when
:12:45. > :12:55.they make the announcement late in the week. Can they afford to not
:12:56. > :13:00.change rates? They cannot. In September, they did not actually
:13:01. > :13:04.make any announcement at that point, just to put it into perspective, the
:13:05. > :13:10.most important thing comes next year, because the likelihood of an
:13:11. > :13:16.interest rate hike is not going to be a big one, it is a more -- it is
:13:17. > :13:19.more of a gesture, we will turn attention to how many hikes we will
:13:20. > :13:24.see next year, current market consensus, anywhere between two and
:13:25. > :13:27.four. Underneath all of that, the Fed have said, this will be a
:13:28. > :13:30.gradual game, the last thing they want to do is not only derailed
:13:31. > :13:37.their own economic recovery but also send shock waves around the world to
:13:38. > :13:38.other countries. Who have debts denominations in dollars. Thank you
:13:39. > :13:50.very much. Coming up: making millions out of
:13:51. > :13:54.mixers, the boss of Fever Tree its air to persuade you and me that his
:13:55. > :14:01.tonic walk water is the only one to drink this party season.
:14:02. > :14:09.We have talked a lot about the slump in commodities prices but the big
:14:10. > :14:13.question, where does that leave the megamerger between BG and shell, it
:14:14. > :14:17.seems that a shareholder vote is all that stands in the way of a deal to
:14:18. > :14:20.create the biggest listed company in Britain, but does it still make
:14:21. > :14:28.financial sense, with oil below $40 a barrel at the moment? Simon Jack
:14:29. > :14:32.is in the business newsroom. It has changed a lot since that initial
:14:33. > :14:37.deal, discussions of a deal, on the radar between Shell and BJ.
:14:38. > :14:41.Interesting other commodity belt can scupper the best laid plans of some
:14:42. > :14:45.senior management, as you would say, making one of the biggest companies
:14:46. > :14:53.in the UK. This is when the deal was announced, big increase in price,
:14:54. > :14:57.look how fortunes are closely linked, mirroring each other's
:14:58. > :15:02.moves, the shares combining, the boss of shell himself, last year,
:15:03. > :15:09.said that this deal only makes sense with oil at $67 a barrel or higher,
:15:10. > :15:13.currently, it is below 40. One major shareholder this morning told me
:15:14. > :15:16.that he is not happy in voting for this unless they come up with
:15:17. > :15:19.something else because on the current, the way that this deal is
:15:20. > :15:22.active, it does not make any financial sense. The Chinese
:15:23. > :15:26.regulator gave this the green light, but it will not be the regulator
:15:27. > :15:30.that is the obstacle to getting this megamerger done, it is the
:15:31. > :15:36.shareholders themselves, based on the say-so of the Chief Executive of
:15:37. > :15:44.shell. That story changing all of the time.
:15:45. > :15:53.There is a timely story in the Guardian looking at the closure of
:15:54. > :15:57.the last remaining coal mine in Yorkshire. Particularly timely given
:15:58. > :16:05.the news we've heard about the climate change talks. Paul was once
:16:06. > :16:10.dominant industry. It is very easy to romanticise, this article says,
:16:11. > :16:17.in an industry that was hard on the environment and the people who
:16:18. > :16:23.worked on it. They look back at what is a historic day but given what we
:16:24. > :16:25.said at the top of the program, still a big source of energy in
:16:26. > :16:42.India. But you're watching business live.
:16:43. > :16:48.The top story, world leaders have hailed the business -- hailed the
:16:49. > :16:53.deal reached in Paris, President Obama saying it is the best chance
:16:54. > :16:58.we have to save the planet. But major nations think it is far worse
:16:59. > :17:08.than perfect. The agreement is not binding. We have been assessing the
:17:09. > :17:14.impact on businesses in emerging nations. As the Christmas party
:17:15. > :17:20.season gets into full swing, what is your tipple of choice? When it comes
:17:21. > :17:31.to gin and tonic there is a relatively new player in town. Not a
:17:32. > :17:36.gin but the tonic. A premium drinks company called Fever Tree was set
:17:37. > :17:42.up. The product range began in 2005 with tonic water using premium
:17:43. > :17:53.ingredients. 7 of the worldpos-mac top 10 restaurants agree. Europe is
:17:54. > :18:08.the market but they are sold in 50 countries around the world. There
:18:09. > :18:16.were revenues of $52.5 million. The CEO of Fever Tree is with us and has
:18:17. > :18:22.brought with him mixers and ginger beer. He has not brought ginger
:18:23. > :18:28.beer. It is too early in the morning. Thanks for being on the
:18:29. > :18:38.programme. 2005, relatively new company. How did it begin? You
:18:39. > :18:43.mentioned my business partner and I, we got together back in 2003 and we
:18:44. > :18:50.identified the same thing, premium spirits had been growing all round
:18:51. > :19:03.the world, better quality spirits coming to the market and this
:19:04. > :19:09.wonderful craft spirit. Bartenders were celebrating spirits. This was
:19:10. > :19:18.happening but in stark contrast, the next category remained the preserve
:19:19. > :19:23.of one global brand focusing on fighting with local cheaper
:19:24. > :19:28.alternatives. It had become commoditised category. Artificial
:19:29. > :19:33.sweeteners found their way in across the board. People spending more
:19:34. > :19:38.money on good quality gin, and when you think three quarters of the gin
:19:39. > :19:47.and tonic is tonic, surely the quality of the tonic is as
:19:48. > :19:53.important. You are a relatively small player taking on the might of
:19:54. > :20:05.Schweppes. They still dominate this market. How do you sell yourself? Is
:20:06. > :20:12.it the premium range or selling the better ingredients? We saw ourselves
:20:13. > :20:16.as offering something different. We were putting quality and flavour
:20:17. > :20:28.back into this category. We looked at it through a different lens.
:20:29. > :20:51.Broadly speaking, the only similarity is we are both in small
:20:52. > :20:56.cans. It is 50p to buy a can of fever tree. It is still very
:20:57. > :21:05.affordable. We need to leave it there because we have so much more
:21:06. > :21:12.to pack into the programme. We will unpack further later on. There has
:21:13. > :21:24.been another big shake-up in South African politics, with the President
:21:25. > :21:33.replacing the newly appointed finance minister with a more
:21:34. > :21:43.experienced colleague. He is the third finance minister to hold the
:21:44. > :21:56.brief in a week. Pretty volatile week. Absolutely, it sent the rand
:21:57. > :22:01.into turmoil. Three finance ministers in one week. It started
:22:02. > :22:07.with the shock sacking of a man considered a safe pair of hands.
:22:08. > :22:12.Replaced by someone with no experience whatsoever, seen as a
:22:13. > :22:20.politically inspired move but after much pressure over the weekend, the
:22:21. > :22:29.president, who was defiant, had a change of heart. His previous
:22:30. > :22:32.finance minister has come back. In the next couple of hours we should
:22:33. > :22:41.get the words of the minister as he takes to his desk. It introduces a
:22:42. > :22:53.degree of stability to the markets. We are seeing some recovery. Is the
:22:54. > :23:02.reputational damage there? We will keep an eye. We will look through
:23:03. > :23:06.the business pages in a moment that you cannot fail to have noticed that
:23:07. > :23:11.there is a new Star Wars film coming out this week. Prepare for all the
:23:12. > :23:16.merchant dies as well as the actual film. We've been looking at what it
:23:17. > :23:31.means for Disney who are releasing the film. High energy and nostalgia.
:23:32. > :23:34.There are no clues for the plot but fans are offered the same characters
:23:35. > :23:51.as the previous franchise. The future of the franchise is
:23:52. > :23:58.limitless. I see no reason Star Wars cannot continue in the hands of
:23:59. > :24:04.gifted storytellers. A big factor in the success is the broad appeal
:24:05. > :24:08.across three generations. A retailer's dream which Disney has
:24:09. > :24:15.been happy to fulfil. We will be doubling the space in the majority
:24:16. > :24:18.of our stores with incredible new products to allow collectors and
:24:19. > :24:25.kids to get into this franchise. Merchandising has driven most of the
:24:26. > :24:34.revenue, and sales are expected to be ?5 billion. There are toys,
:24:35. > :24:48.novelty items, video games. Disney is planning to Mac theme parks.
:24:49. > :24:56.Disney's strategy has been focusing on marketing the brand. What started
:24:57. > :25:00.in a galaxy far away has become self-sustaining business which could
:25:01. > :25:06.outlive the first fans. I am excited. You're not going to be able
:25:07. > :25:12.to see it? I've got a four -year-old. I cannot persuade them
:25:13. > :25:18.here's 12 at the cinema. You're not a fan? I am not. Let's talk about
:25:19. > :25:24.this story. Butlers are trading this story. Butlers are trading
:25:25. > :25:33.silver trays for iPads or tablets. You need tech skills to be a butler.
:25:34. > :25:42.It is quite obvious when you think about it. Not just a question of the
:25:43. > :25:47.tablet situation. They've got this high-tech stuff around the house and
:25:48. > :25:58.when it goes wrong they need an expert. Much like working here.
:25:59. > :26:11.Sorry to keep it so brief. Thank you for that. Good morning. It has been
:26:12. > :26:13.cloudy and