Browse content similar to 10/05/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Sally Bundock and Ben Thompson. | :00:00. | :00:08. | |
EasyJet slips into the red, with terrorist attacks in Paris, | :00:09. | :00:19. | |
Egypt and Brussels changing where and how we travel. | :00:20. | :00:21. | |
Live from London, that's our top story today, Tuesday 10th May. | :00:22. | :00:37. | |
Not so easy for EasyJet - the budget airline makes a loss | :00:38. | :00:40. | |
as terrorist attacks and foreign exchange rates hit | :00:41. | :00:42. | |
We will be talking to the boss to give you the long haul view. | :00:43. | :00:51. | |
Also in the programme: Bruised Japan - one of the country's biggest | :00:52. | :00:54. | |
And the trading day has begun in the European markets, all headed higher, | :00:55. | :01:02. | |
we will explain why. We sit down with the boss of Toms | :01:03. | :01:05. | |
to discuss why their 'one-for-one' campaign to donate shoes | :01:06. | :01:13. | |
to children in need is setting And as EasyJet tips into a loss, | :01:14. | :01:15. | |
we want to know have security fears Let us know, just use | :01:16. | :01:20. | |
the hashtag #BBCBizLive. Budget airline EasyJet made a loss | :01:21. | :01:33. | |
in the six months to April after passengers decided to stay | :01:34. | :01:37. | |
away because of fears over possible terrorist attacks | :01:38. | :01:40. | |
on European capitals. The airline made a loss | :01:41. | :01:42. | |
of over ?24 million, that's around $34 million, | :01:43. | :01:45. | |
in the period compared with a profit of ?7 million, | :01:46. | :01:48. | |
or $11 million, last year. Carolyn McCall, the chief executive | :01:49. | :01:52. | |
of EasyJet, joins me now Good to have you on the programme. I | :01:53. | :02:04. | |
know that normally in this period of the financial year for an airline it | :02:05. | :02:09. | |
is normal to make a loss. Last year making a profit was unusual. Still, | :02:10. | :02:13. | |
a lot has happened in that time and it has changed the way we travel and | :02:14. | :02:17. | |
where we go to, so talk us through it. Can I just say all airlines | :02:18. | :02:23. | |
actually do make a loss in the first half of the year, especially the | :02:24. | :02:27. | |
winter, and we are no exception. In the last decade, last year was the | :02:28. | :02:31. | |
first time we went into profit. But if it wasn't for the foreign | :02:32. | :02:34. | |
exchange movements against us, the pound softening against the euro, we | :02:35. | :02:42. | |
would have made a ?5 million profit. Last year was a ?7 million profit, | :02:43. | :02:48. | |
so despite those extremely difficult and tragic external events that you | :02:49. | :02:51. | |
referred to, and we would include Sharm el-Sheikh in that because we | :02:52. | :02:55. | |
are the only budget airline to fly their, which we do not do any more | :02:56. | :02:59. | |
because we are not allowed to because of what happened there, and | :03:00. | :03:03. | |
that followed by Paris and Brussels, despite all of that passengers have | :03:04. | :03:07. | |
come back. Our load factor in the first half of the year, the number | :03:08. | :03:12. | |
of people we fly on the plane, is 90%, exactly the same as last year, | :03:13. | :03:18. | |
89.7%, so the volumes have come back. It is the pricing that remains | :03:19. | :03:23. | |
under pressure. So, the consumers, this is a fantastic time to fly | :03:24. | :03:29. | |
because everybody's pricing has come down because we are stimulating | :03:30. | :03:33. | |
demand as a result of people perhaps taking longer to books and thinking, | :03:34. | :03:45. | |
do I need to do that, particularly city to city. That happens for a few | :03:46. | :03:49. | |
weeks after a tragic event, what we have seen in Paris and Brussels, | :03:50. | :03:51. | |
regardless of the fact that Paris was city based, not an airline or | :03:52. | :03:53. | |
airport event. It still has an effect on people where they just | :03:54. | :03:56. | |
stop doing normal things for a period of time, and then it comes | :03:57. | :04:03. | |
back. That is what we seeing. Just to talk about where we are going now | :04:04. | :04:09. | |
and when we are going, as you said, we are booking our holidays, we are | :04:10. | :04:12. | |
still travelling, but going to different places. It is fiercely | :04:13. | :04:19. | |
competitive between you and your rivals as to where we are going and | :04:20. | :04:24. | |
is there an issue of, is there the capacity, and argue virtually going | :04:25. | :04:28. | |
to give seats away because some are said you have overcapacity to places | :04:29. | :04:33. | |
like Spain? No, I don't think that is true. I think what is happening | :04:34. | :04:38. | |
is that there is a shifting in terms of holidays, the capacity | :04:39. | :04:44. | |
environment is better, nothing to do with the events we have talked | :04:45. | :04:48. | |
about, it is the local environment. Even airlines that are not in great | :04:49. | :04:55. | |
health long-term, legacy airlines, they will still keep a bit of | :04:56. | :05:01. | |
capacity and the people driving that capacity are the low fares airlines | :05:02. | :05:06. | |
like EasyJet. We are growing at 8% this year, that is a lot of growth. | :05:07. | :05:11. | |
Our capacity is increasing and we are doing that because absolutely we | :05:12. | :05:15. | |
can do that proper debate and give good returns to our shareholders. We | :05:16. | :05:20. | |
have put our dividend up to 50% and we would not be doing that if we | :05:21. | :05:24. | |
have looked to the future and did not see with confidence that we | :05:25. | :05:27. | |
could continue to grow profitably. This summer, certainly, the shifts | :05:28. | :05:32. | |
have been that people are more cautious about certain destinations, | :05:33. | :05:37. | |
there is a big shift towards the destiny at macro Mediterranean, | :05:38. | :05:47. | |
Italy, Spain, Greece -- a big shift towards the Mediterranean. Another | :05:48. | :05:50. | |
example, our ski season this year was the best we have ever had, 40% | :05:51. | :05:56. | |
of ski, amazing. OK, unfortunately we are out of time but we appreciate | :05:57. | :06:01. | |
your presence, thank you for coming on the programme. | :06:02. | :06:06. | |
With me now is Martin Alcock, director of the Travel | :06:07. | :06:09. | |
Let's pick up on what we heard there, what struck the issue said it | :06:10. | :06:16. | |
is about stimulating demand, airlines are stimulating demand. She | :06:17. | :06:20. | |
said it is a fantastic time to book, but ultimately that means it is | :06:21. | :06:23. | |
cheaper and its stuff is cheaper it is not good news for the firm is | :06:24. | :06:27. | |
trying to make a profit from it. Absolutely right, big component of | :06:28. | :06:32. | |
that is we are living through an unprecedented low fuel price | :06:33. | :06:35. | |
environment at the moment and EasyJet have talked around ?50 | :06:36. | :06:48. | |
million worth of their fuel bill in the last six months, recycled into | :06:49. | :06:51. | |
those lower fares to stimulate demand, so aeroplanes will always | :06:52. | :06:53. | |
fly with that occupancy level, it is what price you have to charge to get | :06:54. | :06:56. | |
people on that. And she was making the point that airlines tend not to | :06:57. | :06:59. | |
do well in winter and rely on the summer season. But what evidence is | :07:00. | :07:01. | |
there that people are changing their travel plans? Sally touched on this, | :07:02. | :07:05. | |
we are still travelling but maybe going to destinations closer to | :07:06. | :07:10. | |
home? Across the tourism sector you definitely see that, huge | :07:11. | :07:13. | |
retrenching to mainland Spain, the Balearics, and fortunately for | :07:14. | :07:20. | |
EasyJet they are strong in those areas already but it is competitive | :07:21. | :07:23. | |
out there, the low-cost airlines all have planes they need to fill, they | :07:24. | :07:27. | |
don't lose money when the planes are in the air so they are all looking | :07:28. | :07:31. | |
to build to those destinations which means a huge capacity going in | :07:32. | :07:35. | |
there. Some concerns about dynamics generally. Who is most vulnerable in | :07:36. | :07:42. | |
the airline industry? Is it the budget side, people going away for a | :07:43. | :07:48. | |
weekend, maybe for a city break, I imagine, correct me if I'm wrong, | :07:49. | :07:52. | |
the legacy carriers, the likes of BA, Iberia, they have a lot of | :07:53. | :07:55. | |
business class travel, you have got to go there for work, is it just | :07:56. | :08:00. | |
discretionary travel that suppers? EasyJet have made a big play for a | :08:01. | :08:04. | |
chunk of the business market, different dynamics in that. | :08:05. | :08:08. | |
Traditionally EasyJet would have a lower cost base, more flexibility to | :08:09. | :08:11. | |
move their roots, which is one good thing they have been able to come | :08:12. | :08:15. | |
out of the north Aberdeen destinations, for example. EasyJet | :08:16. | :08:20. | |
have a very strong balance sheet, lots of cash, they can afford a long | :08:21. | :08:24. | |
period of competitive tension in that sector to fund some of the low | :08:25. | :08:28. | |
prices for a period and some of the other airlines maybe don't have | :08:29. | :08:32. | |
that. And the key is how long they can afford to do that. | :08:33. | :08:36. | |
Lovely to see you. Very interesting, lots more on that story online. | :08:37. | :08:40. | |
Tata Steel says seven potential buyers have come forward | :08:41. | :08:43. | |
The firm, which put up its UK business for sale in March, | :08:44. | :08:47. | |
says it is in talks with the interested parties. | :08:48. | :08:49. | |
Tata and others within the European industry blame cheap Chinese imports | :08:50. | :08:52. | |
for a collapse in steel prices that's threatening thousands of jobs | :08:53. | :08:55. | |
The chief executive of the Saudi Arabian oil giant has had 500,000 | :08:56. | :09:08. | |
new jobs will be created in the next decade. The company will play a big | :09:09. | :09:13. | |
role in developing industrial project as Saudi Arabia tries to | :09:14. | :09:16. | |
diversify its economy beyond its reliance on oil. | :09:17. | :09:37. | |
The chief executive of the search company Baidu has called on | :09:38. | :09:41. | |
employees to put values before profits. | :09:42. | :09:50. | |
This comes after the scandal that resulted in the death of a student | :09:51. | :09:53. | |
who was thought to have tried an experimental cancer treatment. | :09:54. | :09:58. | |
A terrible story and clearly one that tech giants have to get a grip | :09:59. | :10:01. | |
on and work out who is advertising on their site through the search | :10:02. | :10:05. | |
results? That is right, certainly the story | :10:06. | :10:10. | |
is being reported widely on Chinese media, counting the tragic fate of | :10:11. | :10:15. | |
the student, the 21-year-old. Before his death he criticised the failed | :10:16. | :10:19. | |
treatment he received from a hospital that was advertised on | :10:20. | :10:24. | |
Baidu. He also criticised Baidu, which controls about 80% of the | :10:25. | :10:30. | |
Chinese search market, for promoting false medical information. Naturally | :10:31. | :10:32. | |
this has caused a storm of controversy in China which may well | :10:33. | :10:37. | |
have prompted this letter that Baidu's chief executive has written | :10:38. | :10:42. | |
to his employees. He writes that if we lose the support of our users we | :10:43. | :10:46. | |
lose hold of our values and Baidu will go bankrupt within 30 days. He | :10:47. | :10:52. | |
is Inc using his employees of making compromises for the sake of | :10:53. | :10:54. | |
commercial interest and placing earnings growth above user | :10:55. | :11:00. | |
experience. We have seen this hit the company hard. Regulators this | :11:01. | :11:04. | |
week imposed curbs on Baidu's advertising because of this | :11:05. | :11:07. | |
controversy and this could potentially hit the company really | :11:08. | :11:12. | |
hard. It relies on revenue from advertising for the lion share of | :11:13. | :11:17. | |
its income. They continue to extend their losses today, down about 2.5%. | :11:18. | :11:22. | |
Thank you very much, that story dominating in Asia and elsewhere. | :11:23. | :11:26. | |
Japan's nikkei rose more than 2% after the country's finance minister | :11:27. | :11:29. | |
said it will intervene if the yen's "one-sided" rise persists. | :11:30. | :11:32. | |
It's the highest close for the Nikkei since April 28th. | :11:33. | :11:40. | |
A lot of the reasons for that is the weakness in the yen. | :11:41. | :11:45. | |
In Europe, we'll get the latest industrial production data | :11:46. | :11:47. | |
Likely to see some pickup on the falls seen in February. | :11:48. | :11:52. | |
In the UK the trade balance for March is expected | :11:53. | :11:58. | |
to narrow too - we'll talk about that in a moment, | :11:59. | :12:00. | |
but first let's get the lowdown on the day | :12:01. | :12:02. | |
Big names in entertainment and pharmaceuticals are likely to | :12:03. | :12:13. | |
command Investec tension on Tuesday. A drugmaker reports first-quarter | :12:14. | :12:17. | |
earnings, many expecting them to reveal disappointing sales and | :12:18. | :12:20. | |
profits but possibly the numbers will be of less interest than the | :12:21. | :12:25. | |
comments they might make about takeover deals in the drug sector. | :12:26. | :12:29. | |
It was managed to have merged with its rival by now but that deal got | :12:30. | :12:35. | |
scuppered by the US government so shareholders will want to know | :12:36. | :12:40. | |
what's next. Later in the day, media giant Walt Disney releases its | :12:41. | :12:43. | |
latest results. It is expected to show a healthy rise in earnings | :12:44. | :12:48. | |
driven in part by this stellar box office performance of its animated | :12:49. | :12:59. | |
film Zootopia. Also out on Thursday, details from the video games make | :13:00. | :13:05. | |
Electronic Arts. Joining us is Jeremy Stretch, | :13:06. | :13:09. | |
head of foreign exchange Let's talk about those figures from | :13:10. | :13:21. | |
France and Germany, it is important because it tells us what is going | :13:22. | :13:25. | |
on. It is one of the things that people watch closely, the rate of | :13:26. | :13:29. | |
growth in these sectors, especially in Germany, which is heavily driven | :13:30. | :13:33. | |
by industry or output and export growth, and we have seen sign that | :13:34. | :13:37. | |
French and German manufacturing output has been slowing, more | :13:38. | :13:40. | |
damaging the perhaps in France and Germany. That will be one of the | :13:41. | :13:44. | |
interesting variables to play out over the course of not just this | :13:45. | :13:51. | |
report but the coming months to see if the two economies are diverging, | :13:52. | :13:53. | |
which is important for Europe where those countries are the key | :13:54. | :13:55. | |
cornerstones of the European project. We have also mentioned some | :13:56. | :14:00. | |
companies out with earnings. In Japan, two big companies that have | :14:01. | :14:05. | |
been there almost forever, Mitsubishi and Mitsui coming out | :14:06. | :14:10. | |
with news that tells us the story of Japan right now? Indeed it does, and | :14:11. | :14:16. | |
one of the interesting thing relevant for Japan, you just touched | :14:17. | :14:19. | |
on it, is the strength of the yen. We have seen a significant | :14:20. | :14:24. | |
appreciation in the value in the last few weeks and months which has | :14:25. | :14:28. | |
had an impact in terms of the profitability of a number of | :14:29. | :14:31. | |
companies. They have also had investment in areas which has been | :14:32. | :14:34. | |
compromised in terms of the commodity sector but the strength of | :14:35. | :14:38. | |
the yen has been a key constituent and it is interesting, reporting | :14:39. | :14:42. | |
about the UK going up, that is at least in part because the yen has | :14:43. | :14:44. | |
weakened on the back of the comments from the Finance Minister, so it is | :14:45. | :14:50. | |
a direct relationship. Just to mention those two companies coming | :14:51. | :14:54. | |
out with losses, something they have not done so many, many years, the | :14:55. | :14:57. | |
interesting how that has changed. Thank you, Jeremy. | :14:58. | :14:59. | |
Still to come: Can capitalism ever be caring? | :15:00. | :15:01. | |
We sit down with the boss of Toms Shoes to discuss | :15:02. | :15:09. | |
why their 'one-for-one' campaign to donate shoes to children in need | :15:10. | :15:12. | |
is setting the bar for others to follow. | :15:13. | :15:14. | |
You're with Business Live from BBC News. | :15:15. | :15:24. | |
Is survey is suggesting the number of businesses that want Britain to | :15:25. | :15:29. | |
remain in the Union has gone down. Victoria is in the newsroom with the | :15:30. | :15:34. | |
details. Victoria, this is an interesting one because day by day | :15:35. | :15:37. | |
we get different indications, it is up, it is down, the polls suggest | :15:38. | :15:40. | |
one thing or another, what are they telling us today? Well, this is from | :15:41. | :15:44. | |
the British Chambers of Commerce. It does actually differ from a survey | :15:45. | :15:48. | |
we had earlier on from the Institute of Directors. It said effectively | :15:49. | :15:53. | |
the polls are narrowing when it comes to sentiment and voting | :15:54. | :15:56. | |
intention among business leaders. They say that as things stand, 37% | :15:57. | :16:01. | |
of members that they polled would like to leave the EU. That leaves | :16:02. | :16:08. | |
54% in favour of remaining. And that means 8% are completely undecided. | :16:09. | :16:13. | |
Now earlier I spoke to Adam Marshal the acting Director-General of the | :16:14. | :16:17. | |
BCC and I asked him whether he thought the people who have already | :16:18. | :16:20. | |
made up their minds, might be willing to change them and he said | :16:21. | :16:24. | |
actually, 90%, so the vast majority of people who have made up their | :16:25. | :16:29. | |
minds are not going to change. And the proportion of people who are | :16:30. | :16:32. | |
still undecided that's narrowing as days go on and we hear more and more | :16:33. | :16:36. | |
of the arguments on either side. The other thing he said, I thought that | :16:37. | :16:40. | |
was very interesting this morning. There is a real difference of | :16:41. | :16:44. | |
opinion when it comes to small and large businesses. If you talk to | :16:45. | :16:47. | |
large businesses and medium sized businesses, yes, they are talking | :16:48. | :16:50. | |
about the referendum. Yes, they are concerned about it. Yes, it may have | :16:51. | :16:54. | |
some impact on their investment spending. You talk to small | :16:55. | :16:58. | |
businesses, it is completely different. Their priorities is | :16:59. | :17:01. | |
what's going to happen in the next week and so the BCC are saying today | :17:02. | :17:07. | |
look, politicians, you have been having real tunnel vision when it | :17:08. | :17:09. | |
comes to the EU referendum and when it comes to the things that really | :17:10. | :17:12. | |
matter for businesses, whether that be a digital roll-out for example, | :17:13. | :17:16. | |
whether it be red tape, those are the issues that the BCC and its | :17:17. | :17:19. | |
members really want to get back on track after that June vote. | :17:20. | :17:25. | |
Victoria Fritz who is in our newsroom for us today. | :17:26. | :17:32. | |
A quick look at the live page. One story that caught our eye. Channel 4 | :17:33. | :17:37. | |
escapes privatisation is the story. It is, of course, relates to the | :17:38. | :17:42. | |
Culture Secretary, John Whittingdale who will publish a white paper. | :17:43. | :17:45. | |
Plans for the BBC, but for Channel 4. The Telegraph says the options | :17:46. | :17:53. | |
for a State broadcaster is under consideration including a potential | :17:54. | :17:54. | |
sale to someone including BT. You're watching Business Live. | :17:55. | :17:59. | |
Our top story: EasyJet makes a loss as the | :18:00. | :18:06. | |
terrorist attacks and foreign exchange rates hits the airline's | :18:07. | :18:11. | |
bottom line. Yes, some of it is changing where we travel to as a | :18:12. | :18:14. | |
result of that. Airlines typically make a loss over the winter months | :18:15. | :18:17. | |
and then make most of their money in the summer. So the boss of easyJet | :18:18. | :18:22. | |
has been keen to point out that to us this morning. She did! She did! | :18:23. | :18:29. | |
Now, you may have heard of Toms Shoes. | :18:30. | :18:35. | |
It's one of America's most well known footwear brands. | :18:36. | :18:37. | |
What you may not have heard of is its charitable mission. | :18:38. | :18:40. | |
When you buy a pair of Toms shoes, the company donates a pair | :18:41. | :18:43. | |
They call it their "One for One" programme. | :18:44. | :18:46. | |
Since the company was founded in 2006, they've donated over | :18:47. | :18:48. | |
50 million pairs of shoes to children all over the world. | :18:49. | :18:51. | |
This type of corporate altruism is increasingly popular and seen | :18:52. | :18:53. | |
by many as the caring, more responsible face of capitalism. | :18:54. | :18:56. | |
Toms Chief Executive and founder Blake Mycoskie told Alice Baxter | :18:57. | :18:58. | |
that he came up with the idea after travelling in Argentina, | :18:59. | :19:01. | |
and seeing so many children without shoes. | :19:02. | :19:03. | |
It was when I was in Argentina outside of Buenos Aires. | :19:04. | :19:06. | |
I was spending a lot of time outside the city because I was learning | :19:07. | :19:10. | |
actually to play polo of all things and when I was out there, | :19:11. | :19:13. | |
I saw many children on the streets with no shoes and I asked some | :19:14. | :19:16. | |
questions about that and I quickly learned that many of the kids, | :19:17. | :19:19. | |
the reason they weren't in school was because it was required for them | :19:20. | :19:22. | |
to have a pair of shoes to go to school. | :19:23. | :19:26. | |
They had to have the uniform and the clothes and black shoes | :19:27. | :19:28. | |
and to me that was crazy that kids who really wanted to be in school | :19:29. | :19:32. | |
and who needed to be in school weren't there | :19:33. | :19:34. | |
just because they didn't have a pair of shoes. | :19:35. | :19:38. | |
So I wanted to do something to help and you know many people see | :19:39. | :19:41. | |
something in the world that they don't feel is just or fair | :19:42. | :19:44. | |
and they want to do something and my idea kind of coming | :19:45. | :19:47. | |
from my entrepreneurial background, instead of starting a charity | :19:48. | :19:51. | |
to donate shoes, what if we started a business where every time we sold | :19:52. | :19:54. | |
a pair of shoes we could then fund giving a pair of shoes away and it | :19:55. | :19:58. | |
started as a really small project on a farm on Argentina and it has | :19:59. | :20:01. | |
Is Toms a business or is it a charity? | :20:02. | :20:07. | |
Toms is a business and that's one of the things I'm most proud | :20:08. | :20:13. | |
of and over the last ten years years we've had this impact. | :20:14. | :20:20. | |
When I started Toms I very purposefully did not want to be | :20:21. | :20:23. | |
a charity because as a charity, my fear was I would be dependant | :20:24. | :20:28. | |
on people's donations and so maybe we would get donation | :20:29. | :20:34. | |
from a wonderful group of people this year and we give the shoes | :20:35. | :20:37. | |
to the kids that need them for school and then we get donations | :20:38. | :20:40. | |
again, but what happens if the donations stop? | :20:41. | :20:42. | |
I felt like I had more control over the giving if it was actually built | :20:43. | :20:48. | |
In an interview you gave back in 2013, you said you wanted to roll | :20:49. | :21:01. | |
out the one for one time philosophy to five other different products r | :21:02. | :21:05. | |
product areas. Are we at five products yet? No, I think we're at | :21:06. | :21:09. | |
four and maybe we will stop at four and pause and breathe for a little | :21:10. | :21:14. | |
bit! It has been a lot of work to go from just being a footwear company | :21:15. | :21:19. | |
to truly a one for one company and introducing things like I wear to | :21:20. | :21:27. | |
help cataract surgery and clean water projects. We have four | :21:28. | :21:30. | |
businesses that we're in right now and really right now and I would say | :21:31. | :21:33. | |
for the next couple of years we're going to focus on those four. Tell | :21:34. | :21:38. | |
me how you began this. You didn't follow a typically orthodox path | :21:39. | :21:41. | |
into business. You didn't go to college, I don't think, you didn't | :21:42. | :21:45. | |
go to business school. How did you become a serial entrepreneur? Well, | :21:46. | :21:50. | |
I think it really started when I was 12 and I was a really competitive | :21:51. | :21:55. | |
tennis player. Now, when I was a soft man in college in my second | :21:56. | :22:01. | |
year I had an injury to my Achilles tendon and had to give up tennis for | :22:02. | :22:06. | |
a year. During that time, I was so bored because I was playing tennis | :22:07. | :22:10. | |
like ten hours a day and now I had nothing to do... Start a business. | :22:11. | :22:15. | |
That's how the first business which was a laundry business got started. | :22:16. | :22:20. | |
The business was fun and we were making money and it was interesting | :22:21. | :22:24. | |
all the employees and stuff. By the time my leg healed up, I realised | :22:25. | :22:29. | |
I'm probably not going to be the next Andy Roddick. Maybe it is | :22:30. | :22:33. | |
better to focus on this intrapresenter stuff and that's kind | :22:34. | :22:41. | |
of what I've been doing ever since. That was the founder of Toms shoes, | :22:42. | :22:47. | |
Blake Mycoskie. He is putting his foot in it really! | :22:48. | :22:51. | |
How long have you been thinking of that? Too long. | :22:52. | :23:00. | |
Jeremy is back with us. Before the threshold and the watershed and | :23:01. | :23:02. | |
everything! Let's talk Greece. The story that refuses to die. It is | :23:03. | :23:10. | |
good for us in terms of having stories. The two, that are | :23:11. | :23:13. | |
dominating in the UK Brexit being one and Greece. These two are | :23:14. | :23:16. | |
married together this this article. It is in the Times. Indeed, there is | :23:17. | :23:28. | |
a potential - Greece go through another round of negotiations. The | :23:29. | :23:32. | |
Greek State has to make hefty repayment options in the month of | :23:33. | :23:36. | |
July. So they need to put further structural reforms in place which of | :23:37. | :23:40. | |
course are leading to extra strikes or additional strikes. So that's an | :23:41. | :23:44. | |
ongoing issue as we go through into the summer. Yet again the Greek | :23:45. | :23:49. | |
story and the Greek crisis is ongoing, for the populace in the UK, | :23:50. | :23:55. | |
we are seeing a mass of debate and political discussion regarding a | :23:56. | :24:05. | |
member of the eurozone being potentially expelled, that doesn't | :24:06. | :24:10. | |
bode well. Really putting two themes together into the vote. It reminds | :24:11. | :24:14. | |
financial markets of the uncertainties out there. Greece | :24:15. | :24:18. | |
being one and the UK referendum result being another. It is hard to | :24:19. | :24:22. | |
predict? Indeed. That's the thing the financial markets hate most. | :24:23. | :24:26. | |
Uncertainty. Things their able to predict, you can manage and you can | :24:27. | :24:29. | |
plan for. In the context of these two particular issues, yes, you | :24:30. | :24:37. | |
would hope best case scenario, we don't see inherent uncertainty, you | :24:38. | :24:40. | |
could get a great deal of uncertainty. Financial markets could | :24:41. | :24:45. | |
be dislocated and that will be a question put to Mark Carney, the | :24:46. | :24:47. | |
Bank of England governor on Thursday. It makes a huge difference | :24:48. | :24:56. | |
and when you are talking about changing the cost of pricing on | :24:57. | :25:02. | |
goods or the prices change by a small amount, it affects foreign | :25:03. | :25:04. | |
exchange levels and impact the bottom line. Sterling will be | :25:05. | :25:09. | |
moving? It will. Speaking of moving. Just when you thought selfies | :25:10. | :25:18. | |
couldn't get anymore annoying. There is a selfie drone. It flies in front | :25:19. | :25:24. | |
of your face and it takes a selfie and flying in your face... Photo | :25:25. | :25:29. | |
bombers could hit them. You could imagine going to an event and | :25:30. | :25:36. | |
everyone is trying to launch their drones. It is like bumper cars in | :25:37. | :25:44. | |
the sky! Why would you want something with propellers flying in | :25:45. | :25:53. | |
front of your face? You may want a load of selfies. Jeremy, thank you. | :25:54. | :26:03. | |
We're droning on again! Thank you for your company. We will see you | :26:04. | :26:04. | |
soon. Hello there. Another stunny day in | :26:05. | :26:13. | |
Scotland. Clear blue | :26:14. | :26:14. |