:00:10. > :00:16.Hello, this is business life with Sally and Ben. Fighting for Tower
:00:17. > :00:22.coalition talks loom in Spain as the election fails to produce an
:00:23. > :00:23.outright winner. Live from London today on Monday 21st December, this
:00:24. > :00:43.is the top story. But as the country is plunged into
:00:44. > :00:47.uncertainty worries grow for its fragile economic recovery. We will
:00:48. > :00:54.assess what is at stake. Also Toshiba shares sank by 10% as it
:00:55. > :01:00.reports a loss of over $4 billion. And with just seven trading days of
:01:01. > :01:04.2015 to go, the euphoria of the rate rise last week in America is wearing
:01:05. > :01:08.off. Worries over the global economy returning and the Spain election
:01:09. > :01:15.outcome is not helping restore any sort of confidence. And keeping the
:01:16. > :01:21.wheels turning, Eric will be with us, she is the founder of port
:01:22. > :01:25.point. The firm is trying to install lots more charging points for
:01:26. > :01:29.parking the car and networks reportedly paid zero tax in the UK
:01:30. > :01:38.despite revenues of ?200 million here. Would that make you change
:01:39. > :01:46.your behaviour? Would you cancel your subscription? Use the isn't as
:01:47. > :01:50.live hashtag. -- use the Business Live hashtag. Welcome to the
:01:51. > :01:53.programme. Spain 's economic reforms thrown into doubt after an
:01:54. > :02:01.indecisive election result last night. One that saw the governing
:02:02. > :02:04.Conservative Party win the most seats but lose its majority. Now it
:02:05. > :02:07.must form a coalition. That uncertainty could spell trouble for
:02:08. > :02:21.the country's fragile economic recovery. The acting Prime Minister
:02:22. > :02:22.Mariano Rahoy hoped it would help him win. What went wrong? This is
:02:23. > :02:28.the ninth consecutive quarter of growth after Spain emerged from
:02:29. > :02:34.recession two years ago. And employment has fallen from its
:02:35. > :02:39.record high of 28% to 21%. Still high, the second highest in the
:02:40. > :02:42.European Union after Greece. -- and employment has fallen. That has
:02:43. > :02:47.worried opponents of the Conservative Party led by Mariano
:02:48. > :02:50.Rajoy. Critics say many of the jobs created are part-time and badly
:02:51. > :02:55.paid. Mariano Rajoy says he is optimistic that things will get
:02:56. > :03:00.better. He scented his campaign on employment, promising 2 million more
:03:01. > :03:06.jobs in the next five years. As these results show many voters were
:03:07. > :03:10.not convinced by that promise. Rubin cigarette is the European economist
:03:11. > :03:16.at the Bank of America Merril Lynch. Thank you for joining us. . Reaction
:03:17. > :03:23.to the result, not unpredictable, we agreed, although it gives no idea of
:03:24. > :03:28.what is ahead. I think it will take time to solve this. You need to
:03:29. > :03:32.understand Spanish politics in three dimensions, left, right,
:03:33. > :03:38.traditional. Where do you stand on Catalonia, and whether you are a new
:03:39. > :03:43.party or an old one. Where you stand on reform. Given that each party has
:03:44. > :03:47.red lines in each of those dimensions we thought any of them
:03:48. > :03:54.crossing any red line, there's no outcome when you cannot rule out new
:03:55. > :03:58.elections. We will be closely watching what each party says
:03:59. > :04:05.regarding potential support. This political instability that will be
:04:06. > :04:08.around for the foreseeable future in the short-term, depending on how
:04:09. > :04:12.that has worked out, will depend on any policy changes for the future
:04:13. > :04:16.and yet Spain needs strong leadership of that economy is to
:04:17. > :04:21.grow significantly in the future. Exactly. I would distinguish it
:04:22. > :04:29.coming in the short run, the economy is going well, they have made good
:04:30. > :04:33.reforms and a hung parliament pretty much means you can't undo those
:04:34. > :04:38.reforms. You have quantitative easing in place. In the medium run
:04:39. > :04:43.Spain has challenges, they have solved some other they have a large
:04:44. > :04:48.rate of unemployment, debt, a difficult position, and that needs
:04:49. > :04:53.political consensus which won't happen in the next two years. That
:04:54. > :04:57.leaves Spain in a very vulnerable position, two or three years down
:04:58. > :05:03.the line. You have listed the problems, which is the most pressing
:05:04. > :05:06.that, if there is any wiggle room in a coalition, where should the focus
:05:07. > :05:18.speed when it comes to tackling at least one of those problems? It has
:05:19. > :05:25.to be unemployment. 13% long-term unemployment, 53%... That is the
:05:26. > :05:34.first... Is that why the other party did well? People are not happy about
:05:35. > :05:38.the way things were done and we have had many corruption cases involving
:05:39. > :05:43.traditional political parties. We could talk for hours about this,
:05:44. > :05:50.thank you for coming in, time is of the essence, we will see you again.
:05:51. > :05:53.Full coverage of the outcome of the Spanish election on the BBC website
:05:54. > :05:58.as well as the business implications of everything we have heard from
:05:59. > :06:03.Madrid. Brent Crude prices are falling again, down to levels last
:06:04. > :06:08.seen in 2004, they have dropped below the lows in the financial
:06:09. > :06:13.crisis, all down to worries of an oversupply of oil. Production around
:06:14. > :06:18.the world is still at record highs, with new supplies looming from Iran
:06:19. > :06:20.and the USA which will increase supplies further. Countries from the
:06:21. > :06:26.World Trade Organisation have agreed to abolish subsidies and farming
:06:27. > :06:31.exports from countries like Kenny, developing nations, critics say that
:06:32. > :06:37.the subsidies have capped prices artificially low and distorted the
:06:38. > :06:41.market, the WTO called it the most significant outcome on agriculture
:06:42. > :06:49.since the organisation was formed in 1995. And a surprise, Star Wars, the
:06:50. > :06:52.Force Awakens has made half $1 billion of profit in its opening
:06:53. > :07:00.weekend and smashed the box office record in the USA, topping Jurassic
:07:01. > :07:05.World. What Disney paid $4 billion for the rights to the series
:07:06. > :07:10.four years ago. Have you seen it yet? I haven't. I'm going to night,
:07:11. > :07:16.very excited. I'm going to bed early to night because I'm an air at 5am
:07:17. > :07:23.tomorrow! Let's look at what is being talked about on Business Live
:07:24. > :07:25.online, tracking reaction to the Spanish election, shares falling on
:07:26. > :07:31.the main market in Spain by almost 3%. Do you remember Yanis
:07:32. > :07:32.Varoufakis? He used to be the finance minister of Greece. He has
:07:33. > :07:50.tweeted this. So as ever, Yanis Varoufakis is not
:07:51. > :07:57.mincing his words. And a quick look at the spike in the cost of
:07:58. > :08:10.borrowing. Any uncertainty about the economic situation always tends to
:08:11. > :08:18.lead to a big spike in borrowing. Those are the stories on our pages.
:08:19. > :08:25.A breaking story about Fifa. Sepp Blatter and Michel Platini will be
:08:26. > :08:29.banned, says the ethics committee. They have claimed that a payment is
:08:30. > :08:33.not convincing and was rejected by the chamber. This effectively means
:08:34. > :08:41.that both men will be banned by Fifa and the ethics committee. More about
:08:42. > :08:53.that as we get it. Clearly all of this relates to the bribery claims.
:08:54. > :08:59.The other developing story has been about Toshiba, axing almost 7000
:09:00. > :09:02.jobs, all of which are in the consumer-electronics division after
:09:03. > :09:09.a massive accounting scandal. It has also announced record losses for the
:09:10. > :09:15.fiscal year. We can go to our Asian business hub in Singapore. Pretty
:09:16. > :09:19.bad news. A record loss and loads of jobs going before Christmas. That's
:09:20. > :09:28.correct, it will be Toshiba's second straight year of losses. More bad
:09:29. > :09:32.news is expected, shares plunged by 20 9% after the initial
:09:33. > :09:37.announcement, a massive loss for the year, $4.5 billion and thousands of
:09:38. > :09:42.jobs going. Those jobs are only about 3% of the overall workforce.
:09:43. > :09:49.not huge chunk of employees. They not huge chunk of employees. They
:09:50. > :09:54.also plan to sell their TV plant in Indonesia and shut a research
:09:55. > :10:00.complex in Tokyo. This company makes everything from cookers to laptops,
:10:01. > :10:03.businesses and nuclear energy, their division includes a electronics
:10:04. > :10:08.hasn't done well. An accounting scandal broke several months ago
:10:09. > :10:10.revealing they had inflated profits by $1.2 billion over a seven-year
:10:11. > :10:15.period. The company is under great period. The company is under great
:10:16. > :10:18.pressure to restructure and to bring their finances back in order. But
:10:19. > :10:22.we've seen many top executives forced to resign and we will see a
:10:23. > :10:30.very different company in the months ahead. Lunch Mac thank you. Toshiba
:10:31. > :10:37.sharply. Toshiba down by 10%, all today. You can see
:10:38. > :10:40.sharply. Toshiba down by 10%, all based on expectations of big losses.
:10:41. > :10:46.The actual figure was confirmed after the close of training. A
:10:47. > :10:51.slightly different picture although the euphoria of the rate rise in
:10:52. > :10:53.America last week is now rising and again the reality, the concern of
:10:54. > :11:01.In Europe it will be the story of the Spanish elections. The governing
:11:02. > :11:06.Spanish Conservative Party won although it lost its majority so it
:11:07. > :11:10.needs to form a coalition. The risk is that Mariano Rajoy will have to
:11:11. > :11:15.make concessions on economic policy which could derail fragile growth.
:11:16. > :11:23.More about that in a moment. First, what Wall Street has in store before
:11:24. > :11:28.the Christmas holidays. As the year and approaches markets begin winding
:11:29. > :11:33.down, just seven full trading days in a shortened Christmas eve session
:11:34. > :11:36.left. Prices could hurt stocks and without a modest rally markets could
:11:37. > :11:43.end the year down for the first time since 2011. Some fresh economic data
:11:44. > :11:45.will come out of this week, the US Congress department will release GDP
:11:46. > :11:51.figures for the third-quarter on Tuesday. It is expected to show the
:11:52. > :11:54.economy grew at an annual pace of 1.9% helped by increased spending
:11:55. > :11:58.before holidays. It's expected to show that existing home sales
:11:59. > :12:04.increased in November the 3.4% decline in October and on
:12:05. > :12:17.Tuesday earnings reports will be out for Nikkei and ConAgra foods.
:12:18. > :12:27.-- ten three Mac. Richard, a lot for people to die just this Monday
:12:28. > :12:30.morning. -- Nike. Brent Crude falling to an 11 year low and people
:12:31. > :12:34.edging into the silly season, where people are ending the week on
:12:35. > :12:39.Christmas Day. A strange week. Adamson and if it is the silly
:12:40. > :12:42.season, it is the time of year when people think about the future and
:12:43. > :12:46.what to do in terms of investment decisions for the next year. Within
:12:47. > :12:49.that, people are thinking what is the world economy going to look
:12:50. > :12:58.like? It won't look sparkling next year. Specific areas in which we do
:12:59. > :13:02.see growth pick-up, in the USA growth could be a tiny bit stronger
:13:03. > :13:07.next van this year. This year it's been OK, quite a decent year for
:13:08. > :13:11.them. For Europe, more importantly, this might be another year in which
:13:12. > :13:16.it gains more momentum. Two years ago it was in recession. It has
:13:17. > :13:23.picked up since then. Next year could see growth of almost 2%.
:13:24. > :13:27.Interesting if we look at the way that the year is ending, so
:13:28. > :13:30.different to the way it started, some of the same issues, rate rises
:13:31. > :13:34.and commodity prices, although nobody perhaps could have predicted
:13:35. > :13:39.they would be quite in the position that they are with oil solo and
:13:40. > :13:43.rates not rising anywhere apart from the US and that just a tentative
:13:44. > :13:47.rise, there's still a lot of uncertainty and fragile as the word
:13:48. > :13:51.we are using to describe most economies. There's a lot of
:13:52. > :13:53.uncertainty, a lot of it created by a different tone to the world
:13:54. > :14:00.economy, different balance of between developing and developed
:14:01. > :14:03.economies. If you think back to pre-recession, every into the wooded
:14:04. > :14:09.would have been about globalisation and the emerging economies in Asia,
:14:10. > :14:13.and fractures, commodity prices booming, things like that. That was
:14:14. > :14:19.driven by demand in the West which was growing rapidly. Demand in the
:14:20. > :14:24.West included the seeds of its own destruction, it was founded on that.
:14:25. > :14:30.We are growing much less quickly in the West now. That is creating a
:14:31. > :14:33.very different environment for emerging manufacturers and quality
:14:34. > :14:43.producers, a different balance of world growth. Richard, thank you.
:14:44. > :14:51.Let's fill you on the news that's been breaking about the former
:14:52. > :14:55.president of Fifa, Sepp Blatter and his Uefa counterpart, Michel
:14:56. > :14:56.Platini, they have been handed out fines and bans as well. They're
:14:57. > :15:01.going to be banned for eight years. going to be banned for eight years.
:15:02. > :15:05.This NUS is just coming through there, is from the Fifa Ethics
:15:06. > :15:09.Committee. The prosecutors were calling for a lifetime banment the
:15:10. > :15:19.ban will be for eight years, but the fine, a hefty one, 50,000 Swiss
:15:20. > :15:24.francs for Sepp Blatter and 80,000 francs for Michel Platini. This
:15:25. > :15:28.relates to the investigation into ethics at world football's governing
:15:29. > :15:30.body. Lots more information on lin and we will be updating you as we
:15:31. > :15:33.get the information. Still to come: Powering ahead
:15:34. > :15:35.as electric cars become an increasingly common sight
:15:36. > :15:38.on our roads, we ask how technology is keeping the wheels moving
:15:39. > :15:44.and the batteries charged. The boss of the UK's
:15:45. > :15:44.leading charging network, You're with Business
:15:45. > :15:51.Live from BBC News. Here in the UK, it's been a hectic
:15:52. > :15:54.weekend of last minute But whilst the shops
:15:55. > :15:57.might have been full, many have already slashed prices
:15:58. > :16:01.to get customers through their doors and whilst it might boost
:16:02. > :16:04.sales, it hurts profits. Emma Simpson has been finding out
:16:05. > :16:06.whether retailers have lost their nerve and
:16:07. > :16:18.cut prices too soon. Well, we have got a few days left
:16:19. > :16:21.until Christmas and they will be big shopping days, but if you look over
:16:22. > :16:26.December as a whole, we are satisfied with our sales results.
:16:27. > :16:30.One retail analyst told me that he detected a whiff of panic on the
:16:31. > :16:35.high street. What's your sense? No panic here in Peter Jones as you can
:16:36. > :16:39.see. All calm and orderly. No, I understand
:16:40. > :16:40.discounting come from, but it is discounting come from, but it is
:16:41. > :16:44.simple, that's all to do with the weather. It has been an extremely
:16:45. > :16:48.mild autumn and that led fashion retailers to reduce their price, but
:16:49. > :16:53.there is no surprise there, that's ever been thus. I think it is a more
:16:54. > :16:56.stable position than the commentators are calling and to be
:16:57. > :16:59.honest we have got to wait to see the whole period through right until
:17:00. > :17:01.the end of clearance. In other words, it ain't over until
:17:02. > :17:07.it's over. It is all to play for. it's over. It is all to play for.
:17:08. > :17:10.Yeah, that's true. A few days left before Christmas, but we have said
:17:11. > :17:14.this is about three peaks, black Friday, Christmas and clearance and
:17:15. > :17:18.John Lewis has not discounted any of its home products in the run up to
:17:19. > :17:22.clearance. It is a big period for us and it is only when you have gone
:17:23. > :17:25.through that you can genuinely tell the profitability of Christmas. This
:17:26. > :17:30.Christmas people have more disposable income in their pockets.
:17:31. > :17:34.But that's not necessarily translating into greater retail
:17:35. > :17:38.are feeling a little better than are feeling a little better
:17:39. > :17:39.last year. The stats are clear. They last year. The stats are clear. They
:17:40. > :17:43.have definitely got a little more money than last year, but it is
:17:44. > :17:49.proving hard for retailers to continue to take the same share of
:17:50. > :17:52.that spending. One of the practical consequences for retailers on that,
:17:53. > :17:56.because presumably the gap is widening between the winners and the
:17:57. > :18:02.losers? I think we are going to see a huge range of performances and
:18:03. > :18:05.remember as online takes an ever greater share, those retailers who
:18:06. > :18:09.really worked out how the bricks and the clicks come to go, those who
:18:10. > :18:13.distribution chain, fulfilling the distribution chain, fulfilling the
:18:14. > :18:16.orders, they will be the winners this Christmas.
:18:17. > :18:25.Sandy Street the managing Director of John Lewis.
:18:26. > :18:26.The Times is saying Sir Ken Morrison owns 2.6 million shares in
:18:27. > :18:31.Sainsbury's. Surprising! Our top story: Political
:18:32. > :18:35.uncertainty in Spain. Rajoy fails to win a majority
:18:36. > :18:56.despite promising economic growth. The Fifa Ethics Committee has banned
:18:57. > :19:01.Sepp Blatter and Michel Platini for eight years from all soccer related
:19:02. > :19:06.activities. Both have been issued fines. That's the story that's
:19:07. > :19:11.emerging as we speak. The Fifa Ethics Committee banning Sepp
:19:12. > :19:17.Blatter and Michel Platini for eight years from anything soccer related.
:19:18. > :19:22.This is relating to the charges brought against them. Ethic judges
:19:23. > :19:28.ruling that Blatter broke the Code of Ethics and breach of loyalty and
:19:29. > :19:31.offering gifts. Michel Platini being found guilty on breaking rules on
:19:32. > :19:35.conflict of interest and loyalty. As electric cars become
:19:36. > :19:37.an increasingly common sight on our roads, the battle
:19:38. > :19:40.between the car makers hots up. Nissan, Tesla and Toyota
:19:41. > :19:43.are all vying for the top spot Last year more than 320,000 electric
:19:44. > :19:50.cars were sold around the world, but all of those need somewhere
:19:51. > :19:50.to recharge and that means many more electrical charging
:19:51. > :19:52.points are required. One of the firms leading
:19:53. > :19:55.the charge is Pod Point, who run the UK's leading electric
:19:56. > :20:00.vehicle charging network. Since 2009 it has sold more
:20:01. > :20:03.than 20,000 electric vehicle charge points and developed one of the UK's
:20:04. > :20:08.largest public charging networks. Erik Fairbairn is the founder
:20:09. > :20:10.and Chief Executive of the company and says one in ten of us could be
:20:11. > :20:23.driving an electric car by 2020 Welcome to the programme. The first
:20:24. > :20:28.car? I have, absolutely, yes. Where car? I have, absolutely, yes. Where
:20:29. > :20:32.do you charge it? At home and when I drive into the office I charge at
:20:33. > :20:37.the office and when I'm out doing my shopping or my leisure time I plug
:20:38. > :20:41.in anywhere I can. Are you London? I'm far outside London, but my
:20:42. > :20:45.office is in London. It does depend on where you live as to the
:20:46. > :20:52.accessibility of chargers outside of your driveway? Electric vehicles are
:20:53. > :20:58.following population density. I don't see them as that in long
:20:59. > :21:02.run. I think in the long run they are applicable to all of us, but
:21:03. > :21:06.they have to start somewhere and the cities is perhaps where they are
:21:07. > :21:10.starting at the moment. With new technology there is the chicken and
:21:11. > :21:13.the egg thing. Is it the take up of electric cars will be determined by
:21:14. > :21:19.to charge them or the charging to charge them or
:21:20. > :21:20.points will be determined when there points will be determined when there
:21:21. > :21:25.is sufficient people already driving an electric car? You can't have one
:21:26. > :21:28.that leads the other by too farment you have to be developing both
:21:29. > :21:31.things at the same time and they have to be proportional. It would be
:21:32. > :21:35.lovely to have a charging point everywhere you could go, but in
:21:36. > :21:42.reality, we have to ramp that up along with the vehicles. As you say,
:21:43. > :21:44.you get area which have great charging infrastructure and some
:21:45. > :21:46.areas which are bare, but when we look back at this time, we will see
:21:47. > :21:50.a rapid roll-out of the electric a rapid roll-out of the electric
:21:51. > :21:53.vehicle. You need full coverage for this to be a viable proposition
:21:54. > :21:57.because it is no good thinking I will invest all this money in an
:21:58. > :22:01.electric car, but you want to go and see friends who live in the country
:22:02. > :22:05.and you realise you could drive there, but you can't drive back
:22:06. > :22:08.because you can't plug the car in. It really needs full coverage or not
:22:09. > :22:13.at all? You're probably right, but the way that these things
:22:14. > :22:13.the new technologies arrive is the new technologies arrive is
:22:14. > :22:16.certain parts of population start to adopt them and the availability of
:22:17. > :22:19.charging infrastructure is one of the things that makes your people
:22:20. > :22:23.adopt them. Perhaps at the moment there is people who live in the
:22:24. > :22:28.South East of England where there is more of these things, that's where
:22:29. > :22:32.prevalent. If you live in rural prevalent.
:22:33. > :22:34.places, it will take longer, but places, it will take longer, but
:22:35. > :22:38.this is normal. These things don't arrive everywhere all at once. Your
:22:39. > :22:42.company was the first in the UK. You have clients around the world.
:22:43. > :22:47.Norway is a big client of yours. Why did you start this? Is this a
:22:48. > :22:53.is that where you're coming from? My is that where you're coming from? My
:22:54. > :22:53.mission is to make sure that travel mission is to make sure that
:22:54. > :22:54.doesn't damage the Earth. So I doesn't damage the Earth. So I
:22:55. > :22:57.think, you know, looking to the future we should be able to travel
:22:58. > :23:01.whenever we want and whenever we need to, but the challenge is making
:23:02. > :23:04.sure that doesn't have a climatic impact and it is about getting rid
:23:05. > :23:11.of carbon. I looked at the industry and said, you know, I can't solve
:23:12. > :23:17.this alone, but what I can do is do get my company to make
:23:18. > :23:17.charge points and together as charge
:23:18. > :23:20.entrepreneurs, we can actually make entrepreneurs, we can actually make
:23:21. > :23:24.a really big step forward in terms of the carbonising -- decarbonising
:23:25. > :23:31.transport and making sure it doesn't damage the Earth. Thank you very
:23:32. > :23:35.much Erik. It is popular out there. Any
:23:36. > :23:38.technology and any new changes with regards the environment and
:23:39. > :23:43.business. We will be here with that. I want to bring you up-to-date with
:23:44. > :23:49.new lines on the Fifa investigation story.
:23:50. > :23:53.News the Fifa Ethics Committee banned Sepp Blatter and Michel
:23:54. > :24:00.Platini for eight years from all soccer related activities. Michel
:24:01. > :24:06.Platini had bid to succeed accept platter as president, but that's
:24:07. > :24:10.clearly not going to happen. -- Sepp Blatter as president, but that's
:24:11. > :24:15.clearly not going to happen. Platini broke rules on conflict of interest
:24:16. > :24:16.and loyalty. All this is this with the Fifa Ethics Committee. More on
:24:17. > :24:21.that at the top of the hour. Both that at the top of
:24:22. > :24:23.men said they would appeal against men said they would appeal against
:24:24. > :24:25.any sanction. This is a story that's likely to run and run. More at the
:24:26. > :24:30.top of the hour. Richard Jeffrey from
:24:31. > :24:45.Cazenove Capital Management Your thoughts, it is another company
:24:46. > :24:47.that's been named and shamed? This is another international, big
:24:48. > :24:53.international technology company which has been accuse. Accused of
:24:54. > :24:57.sheltering income in a low tax area. Netflix are saying there are lots of
:24:58. > :25:02.development costs and we're not making money internationally, there
:25:03. > :25:03.is a hint that they are booking revenues in areas where they pay
:25:04. > :25:09.less tax and they are not booking less tax and they are not
:25:10. > :25:09.revenues in the places where they revenues in the places where
:25:10. > :25:12.make them. This is an international make them. This is an international
:25:13. > :25:16.problem. It is not a problem that the UK can solve on its own. It is a
:25:17. > :25:21.problem the major countries have to get together and sort out and it is
:25:22. > :25:24.to do with fairness. It is interesting this should follow on
:25:25. > :25:29.last week and said it paid more in last week and said it
:25:30. > :25:30.taxes in the UK as part of that taxes in the UK as part of that
:25:31. > :25:36.announcement. New Year's Eve s that a big thing for you? Well, it will
:25:37. > :25:40.be a big thing for us. I know what you're going to ask me. We're going
:25:41. > :25:48.to be on Exmoor which will be a very nice New Year. Dubai is about
:25:49. > :25:51.conspicuous consumption, if you're into conspicuous consumption you're
:25:52. > :26:00.going to go to the place where it costs the most. And that's Dubai!
:26:01. > :26:01.More on the Fifa story at the top of the hour. We will see you soon.