Browse content similar to 05/01/2016. Check below for episodes and series from the same categories and more!
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Hello, this is business live from the BBC. | :00:07. | :00:13. | |
Calm returns to global financial markets but for how long and at what | :00:14. | :00:16. | |
cost? Live from London, it is the top | :00:17. | :00:18. | |
story on Tuesday the 5th of January. The Chinese authorities pour nearly | :00:19. | :00:38. | |
$20 billion into money market to bring stability after Monday's | :00:39. | :00:42. | |
dramatic plunge. The stock market today was closed slightly lower, we | :00:43. | :00:46. | |
will have the expert view. Also, Volkswagen faces billions of dollars | :00:47. | :00:51. | |
fines as America's Justice Department sues the car-maker for | :00:52. | :00:54. | |
cheating emissions. The big question, how big will the legal | :00:55. | :00:57. | |
bilby? And question, how big will the legal | :00:58. | :00:59. | |
bilby? And here is how the European numbers are looking at the opening | :01:00. | :01:04. | |
after yesterday's big sale. We will assess what today could bring. | :01:05. | :01:16. | |
And how social media has changed the firms advertise as brands battle for | :01:17. | :01:18. | |
consumers' attention and agencies at that, but we will get the inside | :01:19. | :01:23. | |
track from Lindsay Paterson, part of the WPP empire. And the headlines | :01:24. | :01:29. | |
read happy new fear? Do you think financial markets are going the | :01:30. | :01:33. | |
wrong direction in 2016? Use the hashtag. | :01:34. | :01:43. | |
A very warm welcome to the programme. Stock markets in China | :01:44. | :01:49. | |
have recovered after opening more than 3% down earlier today. Shanghai | :01:50. | :01:54. | |
shares closed just a quarter of 8% lower. Traders described the initial | :01:55. | :02:00. | |
loss as panic following suspension of trading on Monday, when shares | :02:01. | :02:06. | |
plunged by 7% triggering an automatic shutdown. It was sparked | :02:07. | :02:09. | |
by weak manufacturing data and the introduction of a new circuit | :02:10. | :02:12. | |
breaker system that encouraged traders to make sales early in the | :02:13. | :02:18. | |
day. The plunge in China initiated a big global sell-off. Markets across | :02:19. | :02:22. | |
Asia, Europe and the US all suffered losses. So this is how the numbers | :02:23. | :02:27. | |
are currently looking, this is the picture in Asia overnight, when | :02:28. | :02:32. | |
China stepped in to support the stock market with state-controlled | :02:33. | :02:35. | |
funds buying up stocks and regulators signalling that the | :02:36. | :02:38. | |
selling ban on major investors will remain in place beyond the rest of | :02:39. | :02:41. | |
the week, that was due to expire this week. But whilst that has eased | :02:42. | :02:46. | |
the falls in the latest trading sessions, it gives the market more | :02:47. | :02:52. | |
autonomy and lets it move naturally. So this is what Europe is currently | :02:53. | :02:56. | |
doing at the start of the day. The FTSE 100 in London ended yesterday | :02:57. | :03:02. | |
down, it is clawing back some of those losses just shy of 1%. A | :03:03. | :03:07. | |
similar picture in Germany, where the losses were much greater, ending | :03:08. | :03:11. | |
down nearly 4%. The big question, what will today bring? | :03:12. | :03:14. | |
Thank you, well... Nandini Ramakrishnan, | :03:15. | :03:17. | |
Global Market Strategist at JP Morgan Asset Management | :03:18. | :03:19. | |
joins me now. Happy New Year. Or happy new fear is | :03:20. | :03:28. | |
some newspapers are saying, your thoughts? It is definitely very | :03:29. | :03:35. | |
dramatic, certainly not what we expected, but once again a signal | :03:36. | :03:38. | |
that there will be volatility in 2016 as new markets like China's | :03:39. | :03:44. | |
stock market adjust to being a more open, free market and understanding | :03:45. | :03:47. | |
how truly buy and sell mechanisms like this will work. As you say, | :03:48. | :03:54. | |
same time intervening quite heavily same time intervening quite heavily | :03:55. | :03:56. | |
by the sounds of things and trying to manage it as well, which for | :03:57. | :04:01. | |
foreign investors is a difficult thing to try and predict, isn't it? | :04:02. | :04:06. | |
Exactly, said the action of buying in the Open market, as we saw in the | :04:07. | :04:09. | |
latest session, is something they are doing to try and stave off the | :04:10. | :04:12. | |
losses but ironically, this circuit breaker that triggered yesterday's | :04:13. | :04:18. | |
trading was the first time it has ever been in place, so a new market | :04:19. | :04:23. | |
action to try and let the market decide where to stop didn't work as | :04:24. | :04:26. | |
planned, so I think they are figuring out how exactly to let the | :04:27. | :04:31. | |
markets be more free. And on that issue, the last time they stepped in | :04:32. | :04:35. | |
with those big falls we saw recently at the end of last year, there was a | :04:36. | :04:39. | |
lot of concern about how much intervention the Chinese authorities | :04:40. | :04:42. | |
would have in the markets and they said they would let the markets do | :04:43. | :04:45. | |
what they do best and let investors rule. It has not been the case this | :04:46. | :04:49. | |
time, should we believe it will be any different next time? I then | :04:50. | :04:53. | |
think we can say they will be completely hands-off, this has | :04:54. | :04:58. | |
taught us that they will step in if losses were as bad as they were on | :04:59. | :05:01. | |
the 4th of January's trading session, so I think we need to give | :05:02. | :05:05. | |
them time, take each volatile trading day on its own and see what | :05:06. | :05:09. | |
happens. Maybe they will reduce the amount of liquidity injected into | :05:10. | :05:12. | |
the market in the next bad session, but each time at a time. And | :05:13. | :05:17. | |
briefly, what are you saying at JP Morgan to your clients this year? | :05:18. | :05:24. | |
2016 will be a volatile year, you have two remain invested, stay | :05:25. | :05:29. | |
diversifying and be active in selecting specifics, not just the | :05:30. | :05:31. | |
full index and seeing losses like you saw on the 4th of January. Thank | :05:32. | :05:36. | |
you, we will see you again this year, I am sure, so fasten your seat | :05:37. | :05:39. | |
belts. Yes, we shall, in the meantime, | :05:40. | :05:40. | |
other news. The US Justice Department is suing | :05:41. | :05:42. | |
Volkswagen over the emissions scandal that saw the German car | :05:43. | :05:44. | |
giant fit software in millions In September last year, | :05:45. | :05:47. | |
VW admitted installing the so-called defeat device on 11 million vehicles | :05:48. | :05:51. | |
around the world and has now put aside billions of euros to deal | :05:52. | :05:56. | |
with the repercussions. Chinese airlines are stepping | :05:57. | :05:58. | |
up their plans to go global. Nearly a dozen carriers are expected | :05:59. | :06:01. | |
to launch international services in 2016, to cope with the huge | :06:02. | :06:05. | |
numbers of mainland These include Air China | :06:06. | :06:08. | |
which will launch services to Manchester in the UK, | :06:09. | :06:13. | |
Hainan Airlines that wants to start more flights to Canada | :06:14. | :06:17. | |
and Sichuan Airlines Copper price has slumped after that | :06:18. | :06:34. | |
week Chinese manufacturing data, it fell in December. It raised concerns | :06:35. | :06:38. | |
about the demand from the world's largest consumer of metal, a key | :06:39. | :06:42. | |
component in the manufacturing of everything from mobile phones to | :06:43. | :06:45. | |
houses and is seen as a good gauge of economic health. | :06:46. | :06:49. | |
Looking at business live online as ever, lots of stories and | :06:50. | :06:53. | |
information and news to keep you right up to date. This is one that | :06:54. | :06:57. | |
is quite eye-catching, which is about gun sales in the United | :06:58. | :07:02. | |
States, a very controversial issue at | :07:03. | :07:02. | |
States, a very controversial issue at the moment, very much in the news | :07:03. | :07:05. | |
is that President Obama tries his best before his term ends to try and | :07:06. | :07:10. | |
get changes in the law regarding gun ownership, but this particular | :07:11. | :07:15. | |
story, Smith and Wesson expects to shift more guns in the three months | :07:16. | :07:22. | |
to the end of January, sales ranging from $175 million up to 180 million. | :07:23. | :07:27. | |
They are selling merchandise like he would not believe. Jon Sopel, our | :07:28. | :07:31. | |
correspondent in North America, you will have seen his piece on the BBC | :07:32. | :07:36. | |
about how easy it is to buy a gun in the US. | :07:37. | :07:38. | |
One of the industries that gets the world talking and one of the firms | :07:39. | :07:41. | |
that does very well out of it despite the controversy surrounding | :07:42. | :07:44. | |
it. This is another interesting one, a | :07:45. | :07:47. | |
storm in a teacake. These are the teacake may have seen, Tunnocks, at | :07:48. | :07:53. | |
the Commonwealth games in Glasgow. A bit of a row has emerged about the | :07:54. | :08:00. | |
company's latest advertising campaign, which says they are a | :08:01. | :08:05. | |
great British teacake, can the managing director make that claim? | :08:06. | :08:10. | |
He is the energy director and the grandson of the company founder. We | :08:11. | :08:13. | |
have a boss from the advertising industry later, perhaps a question | :08:14. | :08:17. | |
for her. In the meantime, the continued | :08:18. | :08:21. | |
nervousness on global stock markets, the sell-off in China, it has meant | :08:22. | :08:24. | |
pressure on Hong Kong's stock market. Giuliana is in Hong Kong, | :08:25. | :08:31. | |
can you explain this relationship between mainland China and the | :08:32. | :08:33. | |
markets there and what is happening in Hong Kong. That is right, Hong | :08:34. | :08:40. | |
Kong is a Chinese city but politically and financially, it is | :08:41. | :08:44. | |
completely separate and by law, mainland officials have no due | :08:45. | :08:49. | |
restriction here and that extends to interventions in the market, so the | :08:50. | :08:57. | |
regulators, if they intervene in Shanghai or Shang Jing or in the | :08:58. | :08:59. | |
money markets, let's say intervention cannot be carried out | :09:00. | :09:05. | |
in Hong Kong, so that is why sometimes you will see rather | :09:06. | :09:09. | |
curious occurrences with some companies that are listed both in | :09:10. | :09:14. | |
mainland China and Hong Kong having very different share prices on the | :09:15. | :09:19. | |
same day. We have seen that to some extent over the last few days. Here | :09:20. | :09:25. | |
in Hong Kong, it is a very free market, so investors are able to | :09:26. | :09:31. | |
respond as they see fit and sometimes, of course, they will be | :09:32. | :09:34. | |
affected by the intervention that they will see in mainland China but | :09:35. | :09:39. | |
they certainly wouldn't be bound by those interventions. Juliana, thank | :09:40. | :09:42. | |
you very much, in Hong Kong. Richard Fletcher is business editor | :09:43. | :09:48. | |
at the times. As we have said quite a few times, quite a start to the | :09:49. | :09:52. | |
year and a slot in the media love to make the most of it, but give us | :09:53. | :10:01. | |
your take on our part in the story of getting financial information out | :10:02. | :10:05. | |
there and getting the story right? It is important when dramatic moves | :10:06. | :10:10. | |
are taking place. Yes, you rarely read stories about billions wiped | :10:11. | :10:14. | |
onto shares, it is normally wiping off, so you have to be careful as an | :10:15. | :10:20. | |
editor to describe a 2% fall is a crash because it is not a crash and | :10:21. | :10:24. | |
also, what do you do when it does fall 10% or 15% if you have | :10:25. | :10:29. | |
described 2% is a crash, you are out of hyperbole. So others who have | :10:30. | :10:37. | |
done this for a few years, markets do tend to smack you slightly, as we | :10:38. | :10:41. | |
have seen today and they bounce back, it is or was difficult, so you | :10:42. | :10:45. | |
have to get the balance right and readers definitely pick us up, I | :10:46. | :10:49. | |
have had a few people on Twitter this morning who argue that we have | :10:50. | :10:53. | |
over emphasised the bad news rather than the good news, and we do like | :10:54. | :10:58. | |
the good news occasionally, which is important to remember. I think more | :10:59. | :11:04. | |
than occasionally, that is the impression we are getting. You have | :11:05. | :11:07. | |
to keep some sort of perspective. Yesterday was an important day, what | :11:08. | :11:11. | |
happened in China yesterday was important, which is why we put it on | :11:12. | :11:15. | |
the front page, but you have to keep some perspective and you can't over | :11:16. | :11:19. | |
egg these things. Richard, just a word on VW, that is a story that has | :11:20. | :11:25. | |
everybody talking as well. Yesterday, the US Justice | :11:26. | :11:28. | |
Department, suing Volkswagen for fitting these cheat emission | :11:29. | :11:32. | |
devices, but they have stopped short of naming individuals or criminal | :11:33. | :11:36. | |
charges, this is based on VW and the effect it has had in the US. This is | :11:37. | :11:41. | |
the civil case, we could still see criminal charges, the Justice | :11:42. | :11:43. | |
Department could still bring criminal charges and they stressed | :11:44. | :11:47. | |
that yesterday but the civil case will now move to Northern | :11:48. | :11:52. | |
California. What I suspect we will see on the civil charges, we will | :11:53. | :11:55. | |
now have a period of probably no news as they negotiate, because most | :11:56. | :11:59. | |
people expect them to negotiate. If you look at the cost per vehicle, | :12:00. | :12:05. | |
you could be looking at fines of up to 90 billion for Volkswagen, which | :12:06. | :12:09. | |
is a huge number. What we will probably see now is a bit of radio | :12:10. | :12:13. | |
silence as they negotiate some sort of agreement for the civil damages | :12:14. | :12:16. | |
which come under the clean air laws in the US, but we could still see | :12:17. | :12:22. | |
criminal charges and obviously we could still see elsewhere in the | :12:23. | :12:27. | |
world, both civil and individuals taking action. So watch this space. | :12:28. | :12:31. | |
We will see you later, thank you very much for now, Richard will come | :12:32. | :12:34. | |
back and talk about more stories in the press today. | :12:35. | :12:37. | |
Still to come, vying for your attention. | :12:38. | :12:39. | |
How has social media changed the way firms advertise? | :12:40. | :12:41. | |
We'll meet the boss of global media agency Maxus for the inside track | :12:42. | :12:44. | |
on how businesses are battling for our business. | :12:45. | :12:46. | |
You're with Business Live from BBC News. | :12:47. | :12:53. | |
In the UK, high street chain Next has blamed unseasonably warm weather | :12:54. | :12:56. | |
for what it calls a "disappointing" performance | :12:57. | :12:58. | |
There was a fall in store sales and a sharp slowdown | :12:59. | :13:04. | |
Simon Jack has the details in our business newsroom. | :13:05. | :13:12. | |
Next, the first big retailer to update us on how it fared in the | :13:13. | :13:17. | |
crucial Christmas period. Yes, disappointing was the word they use | :13:18. | :13:21. | |
about their own performance, as you said, sales on the high street down | :13:22. | :13:30. | |
0.5%, sales online by 2%, not the growth we have seen in recent years. | :13:31. | :13:34. | |
Retailers always complain about the weather but to be there to Next, | :13:35. | :13:38. | |
seasonality does play a part and they went to the pains of producing | :13:39. | :13:41. | |
this chart in their statement which shows that as the weather goes down, | :13:42. | :13:46. | |
sales go up and we have had this unseasonably warm weather, November | :13:47. | :13:50. | |
to December where temperatures were up, so sales are down. Profits | :13:51. | :13:53. | |
already coming in at the lower end of estimates has seen shares fall 5% | :13:54. | :13:59. | |
this morning. We have Marks Spencer is to come in the next few | :14:00. | :14:04. | |
days to find out how the retailers' Christmas panned out. Apparently it | :14:05. | :14:09. | |
is fat cat Tuesday, please explain. This is a rather depressing piece of | :14:10. | :14:13. | |
information. By the end of today, the average FTSE-100 CEO will have | :14:14. | :14:17. | |
earned more than the average worker will have for the rest of the year, | :14:18. | :14:21. | |
two days into the year. I put it on my Twitter feed and I don't think I | :14:22. | :14:25. | |
have ever had a bigger response. So a little moment for that information | :14:26. | :14:29. | |
to settle, the average CEO will earn more by the end of today than most | :14:30. | :14:34. | |
people will the rest of the year. What a lovely thought, thank you, I | :14:35. | :14:36. | |
am sure we will get reaction for that. | :14:37. | :14:40. | |
What a depressing start to Tuesday if you are back at work after the | :14:41. | :14:43. | |
Christmas holidays. I am sure Mark Carney is back at | :14:44. | :14:46. | |
work. And he is talking consumer borrowing | :14:47. | :14:51. | |
levels rising to precrisis levels, so the question is what you did over | :14:52. | :14:55. | |
the holidays, did you splurge on the credit card, did you spend too much | :14:56. | :14:59. | |
and do you have that financial hangover? | :15:00. | :15:03. | |
Would you like to confess on air? Good, bad or ugly? I never use it | :15:04. | :15:07. | |
unless I can pay it off at the end of the month. We have to practice | :15:08. | :15:10. | |
what we preach, we talk about it all the time. | :15:11. | :15:14. | |
We will be hearing from Next and Marks Spencer's. We will keep you | :15:15. | :15:19. | |
across the news as it comes in. Always a crucial period over | :15:20. | :15:22. | |
Christmas, we will find out the winners and the losers. We will have | :15:23. | :15:24. | |
the details right here. Our top story, the calm | :15:25. | :15:28. | |
after the storm, a massive stimulus injection by the Chinese government | :15:29. | :15:33. | |
helps to stabilise Asian markets. Everywhere you look, it seems you're | :15:34. | :15:41. | |
bombarded with advertising. Firms all vying for our attention | :15:42. | :15:44. | |
to make us spend our As this year gets underway, | :15:45. | :15:47. | |
2016 is set to be a bumper year The biggest drivers of spending | :15:48. | :15:55. | |
on marketing and advertising But the boom in social media, | :15:56. | :16:18. | |
apps and smartphones are all offering consumers new ways | :16:19. | :16:23. | |
to communicate and shop and often And so as consumers evolve so too | :16:24. | :16:26. | |
must the advertising industry. GroupM expects digital advertising | :16:27. | :16:30. | |
to make up 31% of global ad budgets this year as the industry moves | :16:31. | :16:33. | |
online, away from traditional media. Our next guest, Lindsay Pattison, | :16:34. | :16:36. | |
took over as chief executive of global media agency, | :16:37. | :16:38. | |
Maxus in October 2014. And she's overseen the group's | :16:39. | :16:40. | |
billings grow by $500 million. You told me an important fact which | :16:41. | :16:55. | |
I can't remember. Tell us about, you are the only female CEO of a global | :16:56. | :17:00. | |
ad agency? Yes, depressingly. It is quite depressing. Ben, you wanted to | :17:01. | :17:03. | |
start off with the actual nuts and bolts of it. We talked about the | :17:04. | :17:07. | |
advertising industry as a whole and it is easy to talk about an industry | :17:08. | :17:11. | |
that's been changed by technology and social media, but advertising is | :17:12. | :17:14. | |
one of the biggest beneficiaries if you get it right, but at the | :17:15. | :17:18. | |
detriment of the industry if you get it wrong and we talk a lot about | :17:19. | :17:21. | |
Facebook and Twitter trying to make money from advertising. How does | :17:22. | :17:24. | |
that, what change have you seen in the way that you do your business as | :17:25. | :17:29. | |
a result of technology? Well, we saw some stats earlier with 31% of | :17:30. | :17:35. | |
global ad budgets moving into digital. In the UK we are ahead of | :17:36. | :17:38. | |
the market. I expect 50% of the budgets in the UK to be spent in | :17:39. | :17:41. | |
digital advertising and the reason for that is because, of course, | :17:42. | :17:45. | |
consumers are obsessed with their smartphones. You talked about | :17:46. | :17:48. | |
smartphone devices, we expect the major way that you will access a | :17:49. | :17:54. | |
brand and entertainment and content is by a mobile device. A | :17:55. | :18:00. | |
mobile-ready for a mobile first campaign is critical for all | :18:01. | :18:03. | |
clients. Did the industry see this coming? You look at something and it | :18:04. | :18:09. | |
has a tiny screen compared to cinema advertising that we might have been | :18:10. | :18:13. | |
used to. Did the industry see it coming that you have to win over a | :18:14. | :18:20. | |
consumer on a screen that big? I worked at Sony Ericsson, mobile | :18:21. | :18:23. | |
phones, we talked to them that the fact that you would take your device | :18:24. | :18:32. | |
and that was in the days of WAP, now, I think, marketers are having | :18:33. | :18:36. | |
to realise that, optimise your campaign and think about what you | :18:37. | :18:40. | |
can do on a mobile deviews, I mean that's an amazing device. You can | :18:41. | :18:43. | |
turn it rournd. He can engage with it, you can like, you can control, | :18:44. | :18:50. | |
you can interact and use the gyroscope whereas in the past, you | :18:51. | :18:56. | |
lent back, you watched your TV screen and you saw a billboard, now | :18:57. | :19:01. | |
marketers are having to lean in and see how you can get someone to use a | :19:02. | :19:07. | |
mobile device to make your advertising work harder. Does it | :19:08. | :19:09. | |
mean that advertising that's effective to the masses has become | :19:10. | :19:13. | |
much more accessible to companies? You haven't got to spend millions of | :19:14. | :19:17. | |
pounds or dollars on a TV advertising campaign. Yeah, exactly. | :19:18. | :19:21. | |
The entry points for advertising are minimal, you can start a social | :19:22. | :19:25. | |
media campaign and you can create your own Facebook page and start a | :19:26. | :19:29. | |
Twitter account and build up your social media followers and we talk | :19:30. | :19:32. | |
about paid, owned and earned media. In the past it was about the paid. | :19:33. | :19:36. | |
Hundreds of thousands of advertising dollars, it is a ?20 billion | :19:37. | :19:42. | |
industry in the UK is spent on advertising, but starting with your | :19:43. | :19:45. | |
own assets in social media is a great entry point for any | :19:46. | :19:50. | |
entrepreneur. So you run this company? Yes. Which is under the | :19:51. | :19:55. | |
umbrella of WPP, you have been in advertising since the start of your | :19:56. | :19:58. | |
career and you have seen a huge change since that time and you said, | :19:59. | :20:02. | |
it is depressing that you are the only female boss of a global ad | :20:03. | :20:08. | |
company. Why is that? Is it particularly tough in your industry | :20:09. | :20:12. | |
or is that across-the-board? I think advertising in the UK is in really | :20:13. | :20:16. | |
good health and we have a lot of female Chief Executives in the media | :20:17. | :20:21. | |
space and the media is a tough male environment, it is like the | :20:22. | :20:25. | |
stockbroking environment, but globally we have legacy structures | :20:26. | :20:30. | |
in place. People hire in the same image and women need to smash | :20:31. | :20:37. | |
through the glass ceiling, we need to make sure we sit on a panel and | :20:38. | :20:42. | |
come on a TV show. You are on the TV, great, I can be maybe like you. | :20:43. | :20:47. | |
In the UK, one of the reasons they are in good health, there are | :20:48. | :20:51. | |
specific organisations that you are a part of to help women get forward? | :20:52. | :20:58. | |
We have a club which Morrissey set-up, we have an organisation in | :20:59. | :21:03. | |
London, it is 92 years old designed to help women at the highest levels | :21:04. | :21:06. | |
in our industry. We need more of those. We are talking about the | :21:07. | :21:10. | |
global economy. We talk about the advertising industry being a | :21:11. | :21:13. | |
bellwether for what the global economy is doing. Quickly your take | :21:14. | :21:18. | |
on what this year is good, bad, indifferent? Good. Here in the UK we | :21:19. | :21:23. | |
think 5% to 7%. China, we just talked about earlier in the show, | :21:24. | :21:27. | |
slowing, but we see 8% growth, but the star market is India with 15% | :21:28. | :21:34. | |
growth in ad spend and ad spend generally outstrips GDP. Music to | :21:35. | :21:36. | |
the ears! Now how's this for a | :21:37. | :21:40. | |
glimpse of the future? Well, tech giant LG has been working | :21:41. | :21:42. | |
on a fully flexible screen and at this year's Consumer | :21:43. | :21:47. | |
Electronics Show in Las Vegas it's The BBC's Dave Lee has been given | :21:48. | :21:49. | |
exclusive hands-on access. This is from LG Display, | :21:50. | :22:02. | |
the first fully flexible LED screen. You can roll it, and the picture | :22:03. | :22:09. | |
stays in high-definition Rather than having a TV taking up | :22:10. | :22:13. | |
space, when you have watched TV, you can roll it up, | :22:14. | :22:25. | |
put it in the cupboard, You can only roll it | :22:26. | :22:27. | |
in one direction. If you are too rough, | :22:28. | :22:34. | |
some of the individual It means there are pieces | :22:35. | :22:36. | |
missing from the picture. Why would someone need | :22:37. | :22:43. | |
a flexible screen like this? Today you're watching | :22:44. | :22:50. | |
an 18-inch prototype, but imagine you have a larger size, | :22:51. | :22:53. | |
larger than 85-inch, but imagine you have a larger size, | :22:54. | :22:58. | |
larger than 55-inch, and you can roll up your TV | :22:59. | :23:01. | |
when you do not need it. You can still look at your | :23:02. | :23:04. | |
beautiful wallpapers. This is just a concept | :23:05. | :23:06. | |
at the moment. It is certainly an interesting side | :23:07. | :23:14. | |
of what might be the future of TV. Richard is here with us. Car makers, | :23:15. | :23:35. | |
normally it is the music players, I'm showing my age there! The car | :23:36. | :23:42. | |
makers. This time it is the car makers. A few years ago, you | :23:43. | :23:48. | |
wouldn't have seen car makers at CES, cars are probably one of the | :23:49. | :23:52. | |
biggest stories to come out, that will come out this year. And that's | :23:53. | :23:57. | |
because there is a great battle between the technology companies and | :23:58. | :24:02. | |
car makers. Car makers fear in a decade's time actually, they won't | :24:03. | :24:07. | |
be building cars, Google will be and therefore, they're trying to hedge | :24:08. | :24:09. | |
their bets and they're trying to make sure that they are part of the | :24:10. | :24:13. | |
industry going forward and therefore, they are at CES and it is | :24:14. | :24:22. | |
about everything from making sure your connected devices run in the | :24:23. | :24:28. | |
car. Stories today in the press by Toyota and Ford and other car makers | :24:29. | :24:32. | |
keeping together with their tech trying to keep out Apple and | :24:33. | :24:37. | |
Samsung. Absolutely. They want their technology to remain in house within | :24:38. | :24:40. | |
their industry. Let's talk about the oil price. A story that's been on | :24:41. | :24:47. | |
going because of the tensions between Saudi Arabia and Iran. This | :24:48. | :24:53. | |
in The Telegraph, "Saudi showdown with Iran nears danger point for the | :24:54. | :24:58. | |
world oil markets." They have looked at rise in tensions in Saudi. It is | :24:59. | :25:03. | |
a good point. A few years ago, if we had seen the pictures, you know, of | :25:04. | :25:09. | |
the Saudi embassy on fire in Tehran, you know, we would have seen a | :25:10. | :25:13. | |
massive spike in the oil price and because we have got a glut, the | :25:14. | :25:17. | |
market shrugged it off as just noise. They didn't really take much | :25:18. | :25:24. | |
notice. I mean oil did rise sharply at the start of trading, but by the | :25:25. | :25:29. | |
end of the day, it was up a fraction of 1%, it was hardly up at all. This | :25:30. | :25:35. | |
could be, this increase in tension could actually disrupt the supply of | :25:36. | :25:39. | |
oil and there is a glut as we all know, but nevertheless, you know, | :25:40. | :25:43. | |
this is increasing tension in the Middle East. | :25:44. | :25:45. | |
Richard, it has been great to have you on the programme. Thank you for | :25:46. | :25:49. | |
coming in and sharing your insights on the big stories of the day. | :25:50. | :25:53. | |
Hello again. Good morning. It is another wet day | :25:54. | :26:12. | |
with rain or showers in | :26:13. | :26:14. |