Browse content similar to 28/04/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from the BBC, with Ben Thompson | :00:00. | :00:10. | |
Facebook shares hit record highs after profits at the tech giant | :00:11. | :00:18. | |
Live from London, that's our top story today, | :00:19. | :00:22. | |
Facebook profits surge as the number of users soars. | :00:23. | :00:41. | |
We'll assess the results, that have sent shares soaring 10% | :00:42. | :00:46. | |
The world's biggest advertising company WPP | :00:47. | :00:53. | |
But does the chief executive, Sir Martin Sorrell, deserve | :00:54. | :00:59. | |
to be the best paid boss in Britain? | :01:00. | :01:03. | |
And as American banks opt not to change policy, we ask what is next | :01:04. | :01:08. | |
to kick-start sluggish American growth. | :01:09. | :01:11. | |
And imagine if the lift in your office not only | :01:12. | :01:14. | |
took you up and down, but sideways as well. | :01:15. | :01:16. | |
We'll be talking to the elevator company which says it is a viable | :01:17. | :01:19. | |
And as we question WPP boss Sir Martin Sorrell | :01:20. | :01:27. | |
about his huge pay packet, today we want to know: is any | :01:28. | :01:30. | |
company boss worth $100 million dollars a year? | :01:31. | :01:32. | |
the elevator is, it is straight out the elevator is, it is straight out | :01:33. | :01:58. | |
of Charlie And The Chocolate Factory. | :01:59. | :02:01. | |
We start in Silicon Valley - where it's been a challenging week | :02:02. | :02:04. | |
for tech giants including Apple and Twitter. | :02:05. | :02:05. | |
The world's biggest social network continues to attract | :02:06. | :02:08. | |
new friends by the millions - and more importantly - | :02:09. | :02:11. | |
is managing to convert them into profits. | :02:12. | :02:12. | |
Facebook saw revenue jump more than 50% in the first three months | :02:13. | :02:15. | |
of the year to over $5.3bn - that's better than Wall Street | :02:16. | :02:20. | |
That's largely down to booming sales of advertising | :02:21. | :02:24. | |
But with smaller screens, smartphones have been difficult | :02:25. | :02:30. | |
But for Facebook, it's seen 82% of its ad revenue now come | :02:31. | :02:34. | |
The social network has continued to grow and grow. | :02:35. | :02:49. | |
As of the end of March, 1.65 billion people were logging | :02:50. | :02:52. | |
That's 200 million people more than this time last yearShares | :02:53. | :02:55. | |
jumped in after hours trade and if you look at the past three | :02:56. | :02:59. | |
years you can see the value has steadily climbed from just over | :03:00. | :03:06. | |
Sarah Wood, Co-Founder and Co-CEO of video ad tech | :03:07. | :03:10. | |
There were a lot of naysayers about Facebook, how can they get up these | :03:11. | :03:23. | |
people, how can they monetise them. It looks like they have cracked it? | :03:24. | :03:28. | |
They have done a great job jumping on two key trends, one of those is | :03:29. | :03:32. | |
mobile, a massive jump to Mobot consumption, and one is video. | :03:33. | :03:36. | |
Mobile advertising in video advertising are two of the largest | :03:37. | :03:40. | |
sectors, and Facebook have converted those into profit. Others are | :03:41. | :03:46. | |
struggling to do that, I am talking specifically mobile advertising, | :03:47. | :03:48. | |
that was the key for Facebook. How are they doing it when Twitter | :03:49. | :03:56. | |
struggles? What Facebook has is massive scale, 1.6 billion users, | :03:57. | :04:00. | |
many coming back day after day, but it also has data, it is the ability | :04:01. | :04:07. | |
to target users very precisely by geography, relationship status, and | :04:08. | :04:11. | |
that really helps. Lets just have a look at how they managed to do it. I | :04:12. | :04:14. | |
touched on the fact that, on a small touched on the fact that, on a small | :04:15. | :04:18. | |
screen, we are more easily annoyed by adverts when you are browsing the | :04:19. | :04:22. | |
things on small screens, and that has been the real shift, how you can | :04:23. | :04:26. | |
advertise on something that is getting smaller and smaller, and it | :04:27. | :04:29. | |
seems again, Facebook is doing that right. Consumers are fed up with | :04:30. | :04:34. | |
interruptive advertising, it is true on large screens and small screens. | :04:35. | :04:38. | |
What Facebook houses a suite of products that are non-interruptive, | :04:39. | :04:42. | |
nonintrusive, when the ads play in the news feed, they are not blaring | :04:43. | :04:47. | |
out, the auto is off, so that is less intrusive, but it can also be | :04:48. | :04:51. | |
monetised. But if it is less intrusive, does it work for | :04:52. | :04:56. | |
advertisers? There is always a balance. The challenge for | :04:57. | :04:58. | |
advertisers is to create great ads that people want to watch and share, | :04:59. | :05:04. | |
to create a great content and distributed in noninvasive formats | :05:05. | :05:08. | |
that don't annoy users. Sarah, thank you as always. | :05:09. | :05:10. | |
WPP, the world's biggest advertising company has announced healthy | :05:11. | :05:14. | |
trading for the first three months of this year. | :05:15. | :05:23. | |
Revenues were up some 10% in the three months to March - | :05:24. | :05:26. | |
slightly flattered by the weak pound but largely thanks to strong | :05:27. | :05:28. | |
But the numbers have been overshadowed by ongoing controversy | :05:29. | :05:31. | |
Ir Martin Sorrell is due for a five-year performance | :05:32. | :05:41. | |
related share award of more than $90 million. | :05:42. | :05:43. | |
That would make his pay packet this year $101 million dollars. | :05:44. | :05:47. | |
Electronics giant Samsung says first-quarter profits rose 12% | :05:48. | :05:49. | |
That's thanks to strong early sales of its new flagship smartphone. | :05:50. | :05:57. | |
The South Korean firm made $5.8 billion | :05:58. | :05:59. | |
The new S7 phones were launched in March, and analysts say its price | :06:00. | :06:05. | |
and a lack of new products from rivals has helped boost sales. | :06:06. | :06:14. | |
Lloyds Banking Group has announced what it calls a robust fall in | :06:15. | :06:24. | |
profits. The bank was rescued by the Government at the height of the | :06:25. | :06:29. | |
financial crisis. The Government has been reducing its stake and now | :06:30. | :06:36. | |
holds less than 10%. The mission to Mars, we will talk | :06:37. | :06:41. | |
about that a little later. Elon Mosque has vowed to get more of us | :06:42. | :06:52. | |
to Mars -- Elon Musk. We are not pointing any fingers! | :06:53. | :07:01. | |
Deutsche Bank has announced a fall in profits for the first part of the | :07:02. | :07:10. | |
year, and it is a typical problem, the investment bank has problems. | :07:11. | :07:14. | |
The investment analyst says 2016 will be a peak year for our | :07:15. | :07:24. | |
investments. They try to rein add-in to make the bank a little more | :07:25. | :07:27. | |
profitable. They are telling us to move on. You can check that out on a | :07:28. | :07:35. | |
life page. Let's talk about the bank of Japan. | :07:36. | :07:37. | |
The Bank of Japan surprised markets as it held fire on a fresh | :07:38. | :07:40. | |
round of widely expected stimulus measures, sparking questions | :07:41. | :07:42. | |
about whether it had anything left in its arsenal to kick start | :07:43. | :07:45. | |
This was widely expected, but nothing, absolutely nothing from | :07:46. | :08:05. | |
them today. That is right, and their options are decreasing all the time. | :08:06. | :08:08. | |
Over the past three years, the bank of Japan has tried pumping millions | :08:09. | :08:13. | |
of dollars into the economy. In January it went even further by | :08:14. | :08:16. | |
introducing negative interest rates, and nothing has had its desired | :08:17. | :08:19. | |
effect yet of used in the country's sagging economy. The central bank | :08:20. | :08:24. | |
was widely expected this morning to introduce more monetary easing, and | :08:25. | :08:29. | |
this was seen as even more likely after data came out saying that the | :08:30. | :08:32. | |
country had fallen back into it deviation. Aneke actually rose on | :08:33. | :08:37. | |
this news, with investors confident that the bank would act to curb the | :08:38. | :08:42. | |
falling prices, but on learning that they wouldn't, Nikkei fell, and the | :08:43. | :08:56. | |
yen also strengthened, so it is not clear what bankers will do. | :08:57. | :09:02. | |
Charlotte, thank you. You saw it on the screen, but confirmation that of | :09:03. | :09:03. | |
what that did to the Nikkei stocks. Japanese stocks gave up early gains | :09:04. | :09:07. | |
and managed to wipe out much of the previous four day rally | :09:08. | :09:13. | |
after - as we've just heard - the Bank of Japan disappointed | :09:14. | :09:16. | |
investors by holding off And remember, the Nikkei closed | :09:17. | :09:18. | |
tomorrow for a national holiday. In Europe, this is how the numbers | :09:19. | :09:21. | |
are looking at the open. Inheriting the lead from Asia - | :09:22. | :09:26. | |
as well as the news that the Federal Reserve left | :09:27. | :09:29. | |
interest rates on hold. We'll pore over the wording | :09:30. | :09:31. | |
of what we heard from In a moment, but Mariko Oi has | :09:32. | :09:35. | |
the details about what else is ahead We will find out how the world's | :09:36. | :09:46. | |
biggest economy performed in the first three months of the year on | :09:47. | :09:50. | |
Thursday. Originally the expectation was bad, with many economists | :09:51. | :09:53. | |
forecasting the slowest growth in a year, but some of Wall Street's top | :09:54. | :09:58. | |
firms have now raised their forecast on Wednesday, and that is because of | :09:59. | :10:01. | |
the data showing a trade deficit narrowed sharply in March, rather | :10:02. | :10:06. | |
unexpectedly. What that means is it poses a smaller drag on overall | :10:07. | :10:12. | |
business activity, and that economy growth may not have been as weak as | :10:13. | :10:15. | |
anticipated. Which coincides with the Federal reserves and more | :10:16. | :10:22. | |
optimistic views on the economy. On Thursday we will hear from the likes | :10:23. | :10:28. | |
of Ford, LinkedIn, Amazon and MasterCard about their forecast. | :10:29. | :10:31. | |
Joining us is James Hughes, chief market analyst | :10:32. | :10:33. | |
for at GKFX, a leading online forex trading broker. | :10:34. | :10:35. | |
James, good to see you. A familiar face to us all. I guess the | :10:36. | :10:42. | |
headline, if we look at yesterday and the focus from the markets, it | :10:43. | :10:47. | |
was America's Central bank, it was bank of Japan, the Fed, and also New | :10:48. | :10:52. | |
Zealand's central-bank, and the headline, central banks do nothing. | :10:53. | :10:57. | |
We all focus on the Fed is being the most important thing, but arguably | :10:58. | :11:00. | |
it was Japan that was the most important yesterday. We expected Y20 | :11:01. | :11:07. | |
trillion increase that this already 80 trillion quantitative easing. And | :11:08. | :11:14. | |
we got absolutely nothing. So it is no surprise we have seen such a big | :11:15. | :11:17. | |
move in the yen, it strengthened quite a lot. We always moan about | :11:18. | :11:25. | |
the Fed and the ECB and the tiny amounts that they change the | :11:26. | :11:28. | |
wording, and that is what they did yesterday. But the reason they do | :11:29. | :11:33. | |
that is because there are such huge swings in these markets. And the | :11:34. | :11:38. | |
worry about the global economy, the wider economic Richard, that is | :11:39. | :11:41. | |
interesting because that has always been the excuse for not doing | :11:42. | :11:45. | |
anything, and that has now disappeared? And that means we are | :11:46. | :11:50. | |
going to see some rate hikes in the coming months, because they have in | :11:51. | :11:55. | |
saying that this global economic downside which has been affecting | :11:56. | :11:59. | |
the markets, and January, February, sought huge falls in the markets, | :12:00. | :12:03. | |
but what is interesting is they are saying they have moved away from | :12:04. | :12:06. | |
affecting the US economy, because they haven't gone anywhere, China is | :12:07. | :12:11. | |
still struggling economically. Commodities are up, oil is up, but | :12:12. | :12:16. | |
not as much as we want, so they are struggling, these economies, still, | :12:17. | :12:21. | |
but they are not affecting the US as much. But it is interesting, because | :12:22. | :12:25. | |
if the US is sounding more optimistic, it is strange we are | :12:26. | :12:31. | |
seeing gold, the safe haven... It is because nobody knows what anybody is | :12:32. | :12:34. | |
doing, that is why gold is rallying! When all else fails, buy gold! We | :12:35. | :12:38. | |
will talk to you very shortly. We'll hear from a man whose pay | :12:39. | :12:41. | |
package is almost as big as Aaron's. It's the boss of advertising giant | :12:42. | :12:46. | |
WPP, Sir Martin Sorrell. We'll ask him whether he's worth | :12:47. | :12:48. | |
$100 million. The lift - or elevator - | :12:49. | :12:52. | |
that goes sideways We'll hear from the company | :12:53. | :12:56. | |
making it a reality. You're with Business Live from BBC | :12:57. | :13:01. | |
News. The future of the UK's financial | :13:02. | :13:10. | |
services industry has become a heated battleground for those | :13:11. | :13:13. | |
arguing whether we should leave But what will the referendum mean | :13:14. | :13:15. | |
for financial services? Steph McGovern has been to Chepstow | :13:16. | :13:23. | |
to find out why the race In total, financial services is | :13:24. | :13:41. | |
worth around ?190 billion to the UK economy, but it is about 12% of | :13:42. | :13:46. | |
everything we do. So what will taking a punt on EU membership mean | :13:47. | :13:51. | |
for the financial sector? Let's say I setup my own financial services | :13:52. | :13:55. | |
company in the UK. Because we are part of the EU, we can do business | :13:56. | :13:58. | |
easily with the other countries in it. It is called the passport | :13:59. | :14:00. | |
system. It is why a lot of international | :14:01. | :14:08. | |
companies will have But the In campaigners | :14:09. | :14:11. | |
are worried it is at risk. If we were to leave the single | :14:12. | :14:15. | |
market, negotiate a trade deal along the lines | :14:16. | :14:17. | |
of countries like Canada, it would exclude financial services, | :14:18. | :14:20. | |
at great detriment to the UK. And that would mean that a lot | :14:21. | :14:22. | |
of jobs would be lost, and indeed it would be harder | :14:23. | :14:25. | |
for us to retain that significant On the other hand, because my | :14:26. | :14:28. | |
company is in the EU, I have to comply with their rules and | :14:29. | :14:33. | |
regulations, which have been getting The Out campaigners | :14:34. | :14:35. | |
say this is a handicap There is an avalanche | :14:36. | :14:39. | |
of legislation coming out of Brussels weighing down | :14:40. | :14:43. | |
on our financial services sector Ranging from capital | :14:44. | :14:46. | |
requirements for insurance companies to restrictions | :14:47. | :14:51. | |
on accessing talent It makes the UK financial | :14:52. | :14:53. | |
centre uncompetitive Both sides argue that | :14:54. | :14:57. | |
the other is gambling with the future of the financial | :14:58. | :15:08. | |
services industry, but it's anyone's Let's take a look at the tablet. | :15:09. | :15:24. | |
Greece is back in the spotlight again, just when we thought it was | :15:25. | :15:29. | |
safe to look away. This is Donald Tusk, the boss of the European | :15:30. | :15:33. | |
Council. He is tweeting about the importance of renewed talks. Clearly | :15:34. | :15:40. | |
a lot of worries ahead of the UK's referendum on Europe, any worries | :15:41. | :15:43. | |
over Greece will be very closely watched. | :15:44. | :15:53. | |
top story. Facebook told us last night that the revenue has tripled, | :15:54. | :16:05. | |
because of mobile advertising, we have talked about it a lot on this | :16:06. | :16:11. | |
programme, why it is difficult to make money from mobile adverts | :16:12. | :16:14. | |
although from these figures it would seem that Facebook has cracked it. | :16:15. | :16:17. | |
Imagine if the lift in your office or apartment building not only | :16:18. | :16:20. | |
took you up and down - but sideways as well - | :16:21. | :16:23. | |
whisking you to the far corners of the building. | :16:24. | :16:28. | |
It's an idea one company is testing and says it is possible. | :16:29. | :16:31. | |
ThyssenKrupp Elevator has been making lifts | :16:32. | :16:33. | |
since the 1970s, its HQ is in Germany and has 50-thousand | :16:34. | :16:35. | |
a year, its projects have included the One World Trade Centre in | :16:36. | :16:44. | |
Its chief executive is Andreas Schierenbeck - | :16:45. | :16:48. | |
who also holds a degree in electrical engineering. | :16:49. | :16:50. | |
Andreas, welcome. The producer will show the images, it is hard for us | :16:51. | :17:07. | |
to get our heads around it, the technology exists? Yes, you can see | :17:08. | :17:15. | |
it in our test centre in Spain, we are just building a tower in Germany | :17:16. | :17:19. | |
to install this project by the end of this year or next spring. Why | :17:20. | :17:26. | |
hasn't it happened before, we have seen it in films, left that could go | :17:27. | :17:30. | |
in any direction, something people have wanted for a long time, what is | :17:31. | :17:36. | |
not made it possible before? Maybe it was possible, just not needed. We | :17:37. | :17:40. | |
can lift higher and higher although the left cannot follow. We needed | :17:41. | :17:46. | |
new technology to really rich lifts into a level of 3000 metres and of | :17:47. | :17:51. | |
course to put more cabins in a shaft. So this was driving the | :17:52. | :17:55. | |
research. There has to be another way to make it more efficient and | :17:56. | :18:02. | |
better. Amazing images. In 2016 it is rather archaic to hear about | :18:03. | :18:08. | |
lifts, still on cables to this day. And that has always been a hindrance | :18:09. | :18:14. | |
on how high you can go. We keep talking about it, skyscrapers, going | :18:15. | :18:22. | |
up and up. The cable is a thing that has been working for a long time, | :18:23. | :18:27. | |
although it has definitely two setbacks, first if you have a cable, | :18:28. | :18:32. | |
it's only one thing moving, and the other hand the cable cannot be as | :18:33. | :18:37. | |
long as you wish. It can go up to 600 metres and then becoming too | :18:38. | :18:41. | |
buried to bear the load. So getting rid of the cable is a key part to | :18:42. | :18:47. | |
drive the technology, it's an enormous thing to do. So what is the | :18:48. | :18:51. | |
technology that means that you could do this either higher or go in | :18:52. | :18:55. | |
different directions? The change was that we would get rid of the cable, | :18:56. | :19:01. | |
if you put magnets, and linear motor on the wall and of course the linear | :19:02. | :19:04. | |
motor is propelling the cabin to where ever you want to go. And since | :19:05. | :19:08. | |
you have multiple cabins they have to go somewhere if they hit the end | :19:09. | :19:12. | |
of the shaft so we move them sideways and bring them down a | :19:13. | :19:19. | |
second shaft. This makes me feel a little sick! What users would you | :19:20. | :19:22. | |
have? We talked about office buildings and sprawling sites, where | :19:23. | :19:28. | |
would it be used? A lot of interest from buildings which are high and | :19:29. | :19:33. | |
want to have less elevator shafts because real estate prices are high, | :19:34. | :19:36. | |
I'm talking to you in London, come on! If you have vertical and | :19:37. | :19:41. | |
horizontal transportation together, going from a parking place in an | :19:42. | :19:45. | |
airport, directly to the check-in terminal results, changing lifts, | :19:46. | :19:52. | |
people flow is the top priority of a lot of industries. As the big boss | :19:53. | :19:57. | |
of the group... Has building always been in your | :19:58. | :20:17. | |
blood? I worked in the builders differ ten years and then I changed | :20:18. | :20:20. | |
to buildings because they are fascinating. You take so much for | :20:21. | :20:24. | |
granted, you switch on your tap water, how does the tap water come | :20:25. | :20:29. | |
there? How do you get cooling and fire protection, how do you get | :20:30. | :20:33. | |
upstairs that an elevator, there is such interesting stuff, normally | :20:34. | :20:38. | |
engineers like Beck and complexes so I like to do that. Andreas, I said | :20:39. | :20:43. | |
it would be short and sweet, we really appreciated and we hope this | :20:44. | :20:53. | |
technology gives your company left! Andreas, danke schon. | :20:54. | :20:57. | |
WPP is the world's biggest advertising company. | :20:58. | :20:59. | |
In the last hour or so it has announced healthy trading | :21:00. | :21:01. | |
for the first three months of this year. | :21:02. | :21:07. | |
Revenues were up some 10% in the three months to March - | :21:08. | :21:10. | |
slightly flattered by the weak pound but largely thanks to strong | :21:11. | :21:12. | |
But the numbers are really overshadowed by ongoing | :21:13. | :21:15. | |
Sir Martin Sorrell is due for a five year performance related share award | :21:16. | :21:22. | |
That would make his pay packet this year to 101 million dollars | :21:23. | :21:26. | |
Earlier I spoke to Sir Martin Sorrell | :21:27. | :21:28. | |
from New York and I asked him if he was worth that amount? | :21:29. | :21:32. | |
What I have been doing for over 31 years is investing in the company, | :21:33. | :21:38. | |
never selling shares, always reinvesting. So what you referred | :21:39. | :21:44. | |
to, the annual report will be out tomorrow and it will confirm the | :21:45. | :21:47. | |
numbers you talk about, I have kept investing after tax, all of the | :21:48. | :21:55. | |
amount. So all of my wealth such as it is, is invested in this company. | :21:56. | :21:58. | |
It's something that my father encouraged me to do many years ago. | :21:59. | :22:04. | |
He said that portfolio investment was a mugs game and you should | :22:05. | :22:07. | |
invest in the company you know best, the one that you are in. Will the | :22:08. | :22:16. | |
shareholders approve? Approve of your pay packet? That is up to the | :22:17. | :22:22. | |
shareholders. The incentive plan you referred to, they did approve, many | :22:23. | :22:29. | |
years ago. It was something like 70% or 80% of them proving that plan. | :22:30. | :22:34. | |
The answer to the question is, when it was put to shareholders for | :22:35. | :22:38. | |
approval, and every one of our plans has been put up to shareholders for | :22:39. | :22:42. | |
approval, they were approved. Shareholders can change their mind | :22:43. | :22:46. | |
but the answer to your question is, they had the chance to vote on it | :22:47. | :22:50. | |
and they voted in favour. The performance of the company over the | :22:51. | :22:53. | |
last five years has gone from a market cap of eight and a half | :22:54. | :22:58. | |
billion pounds to ?20 billion and we have outperformed all the indices | :22:59. | :23:03. | |
and all our peers because the plan itself was based on that | :23:04. | :23:06. | |
outperformance. So I am not embarrassed by the performance of | :23:07. | :23:11. | |
the company, or apologising for the fact that this company is a world | :23:12. | :23:15. | |
leader and is based in the UK and we are very proud of the fact that we | :23:16. | :23:19. | |
started at 31 years ago from nothing and it is where it is now. He is a | :23:20. | :23:26. | |
good talker. There's a lot of controversy about why he is paid so | :23:27. | :23:31. | |
much but as he says, she built the company from scratch, 31 years ago, | :23:32. | :23:36. | |
he's been a long time, seen it through the good and about and who | :23:37. | :23:41. | |
else would the money? Meijer we always argue about shareholder | :23:42. | :23:44. | |
activism and how much the chief executive should be paid but it is | :23:45. | :23:47. | |
his company and he built it from scratch. He's almost changed a | :23:48. | :23:53. | |
generation of advertising and what the company does. Some people do not | :23:54. | :23:59. | |
deserve massive pay packets when the company doesn't do well. Clearly the | :24:00. | :24:07. | |
company is making a big loss, in that case, hugely successful and he | :24:08. | :24:13. | |
gets paid for it. There is a programme in place. And he is | :24:14. | :24:18. | |
brilliant on TV! He's a really good talker, we always have fun with him. | :24:19. | :24:25. | |
You mentioned Greece. This is interesting, it's the same old story | :24:26. | :24:31. | |
and it just rolls on. You've got the IMF and the EU and the European | :24:32. | :24:35. | |
Central Bank, who lent money to Greece, they are at loggerheads, | :24:36. | :24:38. | |
Greece cannot pay back all the money. We said this in 2015 and in | :24:39. | :24:45. | |
2014 and in 2011 and we continue lending! Will probably say this in | :24:46. | :24:52. | |
July. Donald Tusk has called a meeting to try to organise this. | :24:53. | :24:59. | |
Greece bow to .2 euros billion to the European Central Bank in July. | :25:00. | :25:04. | |
-- they owe this money. We know that the talks will go on and on and we | :25:05. | :25:08. | |
reach a deadline which will be pushed back. It's just the same | :25:09. | :25:12. | |
thing again. And a word on the timing just before the UK referendum | :25:13. | :25:17. | |
on the afford your Mac, that'll be interesting because the suggestion | :25:18. | :25:20. | |
was that nobody would rock the boat until the referendum was done. This | :25:21. | :25:24. | |
could throw a spanner in the works, it could raise important questions | :25:25. | :25:29. | |
about the future of the U before the referendum. It could, and what will | :25:30. | :25:35. | |
also come from the Leave campaign is, we know that the UK isn't part | :25:36. | :25:39. | |
of the Eurozone, although it is still money from the UK that goes to | :25:40. | :25:44. | |
Greece. That will be the big thing, when these figures are highlighted. | :25:45. | :25:49. | |
Not a lot but sum. We are out of time. Thank you for coming in. Have | :25:50. | :26:00. | |
a great day, wherever you are, we will see a very soon. | :26:01. | :26:02. |