:00:13. > :00:21.Hello, this is business news. India is predicted to hold onto its
:00:22. > :00:31.fastest growing economy. Can it but, fastest growing economy. Can it but,
:00:32. > :00:43.the powerhouse for world growth? -- can it become.
:00:44. > :00:49.India's agriculture and service sectors are expected to deliver its
:00:50. > :00:55.strong growth as China slows, is it a beacon of hope for the global
:00:56. > :01:01.economy. Also, Latin America's biggest airline says it will suspend
:01:02. > :01:05.flights to Venezuela because of the deteriorating economic situation.
:01:06. > :01:11.Here is a look at the trading day for the markets. And being paid to
:01:12. > :01:14.share your personal information. We will be hearing from a website that
:01:15. > :01:20.is putting consumers back in control of their data and I love this, what
:01:21. > :01:31.about this fellow here? He is that high when he's home robot for 410
:01:32. > :01:36.quid. He can help with age care, health care and help control your
:01:37. > :01:42.smartphone, what you think? Would you want one? And if so what would
:01:43. > :01:57.you do in your home? If you do, let us know on Twitter. -- do know. The
:01:58. > :02:02.world's fastest-growing major economy is due to release its
:02:03. > :02:06.figures later. With the agriculture and service sectors expecting to
:02:07. > :02:08.drive continued growth. Economists predict the economy will have
:02:09. > :02:15.grown by 7.5%. There it is in the five months until the end of March.
:02:16. > :02:21.With China slumming, India's success is being seen as a bright spot with
:02:22. > :02:24.the potential to drive growth in the global economy.
:02:25. > :02:27.Singapore's Prime Minister says India is a hope for us all.
:02:28. > :02:36.when China was ten years ago. Not everyone is quite so optimistic. The
:02:37. > :02:39.governor of the reserve bank has been criticised for telling the
:02:40. > :02:51.website market watch that in the land of the Blind, the
:02:52. > :03:01.Onenightinvienna is king. Our correspondent joins us, good to see
:03:02. > :03:08.you. For the uninitiated, in the land of the blind, the one eyed man
:03:09. > :03:12.is king, what is he saying that? If you talk about him as the boss of
:03:13. > :03:17.the central bank, the real message he is sending out is that India is
:03:18. > :03:22.growing, but don't get carried away. Lots of work still to be done, India
:03:23. > :03:28.had slowed down to three years back. India was not growing at the pace it
:03:29. > :03:33.is growing now. You can see the numbers jumping up and stop the
:03:34. > :03:37.economy has picked up a pace. You spoke about agriculture and the
:03:38. > :03:42.private sector, but manufacturing is still a challenge, in the structure
:03:43. > :03:46.is still a challenge, the banking sector is still struggling and for
:03:47. > :03:56.India to retain the size of China, it will have to keep growing
:03:57. > :04:01.consistently. Correct me if I am wrong, but one of the perils that
:04:02. > :04:05.goes along or comes with a nation that becomes the fastest-growing
:04:06. > :04:09.economy in the world, the rest of the world looks at it and says India
:04:10. > :04:19.can to help us with propping up the global economy. The thing is a lot
:04:20. > :04:26.of time the world compares India to China. India's economy is one fifth
:04:27. > :04:30.the size of China's economy, there is no comparison there. India is one
:04:31. > :04:35.of the fastest-growing economies in the world, it has a huge pace,
:04:36. > :04:45.foreign investors look at India as a huge market. The second most
:04:46. > :04:51.populated country in the world, they look at India as a big market. There
:04:52. > :04:54.is huge consumption here. At the same time, there are some
:04:55. > :04:59.bottlenecks as I can use that term, challenges when it comes to
:05:00. > :05:03.different infrastructure, roads, bridges, boats. You need that to
:05:04. > :05:09.come at a rapid pace to make India a global powerhouse for the economy.
:05:10. > :05:12.We appreciate your time, I know you will keep across those numbers as
:05:13. > :05:17.Souness they are out. Joining us live from Mumbai, really neat
:05:18. > :05:42.infrastructure! Latan will be stopping its flights
:05:43. > :05:48.to Latin America. The queues for basic products continue in Venezuela
:05:49. > :05:51.and economic crisis has now caused a foreign company to think about its
:05:52. > :05:56.involvement in the South American nation. Following announcement by
:05:57. > :06:06.the German airline Lufthansa that they will be suspending flights, now
:06:07. > :06:09.Latan is following suit. It will end first within days and the other
:06:10. > :06:18.routes it runs from Lima is an Thiago will be halted by the end of
:06:19. > :06:23.July. The President Polk -- points to an economic war to force his
:06:24. > :06:28.government from power. It comes after both companies have complained
:06:29. > :06:33.that the government's tight currency controls have made it impossible for
:06:34. > :06:39.them to repatriate in hard currency. Instead they have millions of
:06:40. > :06:46.dollars tied up in the rapidly developing Karen scene. Let's check
:06:47. > :07:01.in with some of the other stories. -- developing currency.
:07:02. > :07:22.Rail workers will begin a network strike on Tuesday. There will be an
:07:23. > :07:26.ongoing blockade. All of this as the country hosts the football
:07:27. > :07:34.tournament. Air traffic controllers and staff are going on strike. Is
:07:35. > :07:42.anyone not going on strike in France? A transfer pact between the
:07:43. > :07:47.EU and the US create significant improvements. The privacy shield was
:07:48. > :07:59.meant to guard EU citizens personal information when it is stored in the
:08:00. > :08:01.US. Volkswagen has released its latest numbers and sales and profits
:08:02. > :08:13.are both down for the first three months. The profits have fallen by
:08:14. > :08:22.20% and they expect overall sales to drop by 5% by the end of the year.
:08:23. > :08:26.Hong Kong has overtaken the United States as the world's most
:08:27. > :08:37.competitive economy. Where is that coming from? United States had held
:08:38. > :08:46.the top spot for the last few years. Explain this to us, what has Hong
:08:47. > :08:50.Kong got that pits the US? Hong Kong beat everyone, not just the US,
:08:51. > :08:56.according to the survey by the IND, because of its innovation and its
:08:57. > :09:00.low tax rates. It has some of the lowest tax rates in Asia. It is also
:09:01. > :09:04.because Hong Kong is seen as a gateway to China for foreign and
:09:05. > :09:10.direct investment. Mainland China also came in the top 25 of the most
:09:11. > :09:14.competitive countries in the survey. Singapore came in fourth place and
:09:15. > :09:20.the US held that top spot for four years and has been knocked off. Hong
:09:21. > :09:25.Kong's fortunes are also inextricably linked to China. While
:09:26. > :09:29.China's economy did well over the last decade, Hong Kong did well as
:09:30. > :09:33.well. In the last few quarters, we are seeing the growth moderate and I
:09:34. > :09:44.expect that Junior as China's economy increases. -- I expect that
:09:45. > :09:48.to continue. Shares have recovered from a wobbly start. Japan recorded
:09:49. > :09:55.better than expected hater. Shares were lifted and shares hike that was
:09:56. > :09:59.planned is likely to be delayed until 2019. No trading on Monday
:10:00. > :10:04.because of a public holiday. Let's flick over and look at the European
:10:05. > :10:11.markets. The FTSE 100 responding to that from Asia. Good on you. He is
:10:12. > :10:18.settling in! Let's stay with the markets. We have a global market
:10:19. > :10:25.strategist. She joins us. Good to have you with us. We know the
:10:26. > :10:30.markets are focused on the US, the European Central Bank meets later
:10:31. > :10:38.this week. Our second headline story was Venezuelan. Lufthansa, Latan,
:10:39. > :10:43.others are likely to follow suit because they will not get their
:10:44. > :10:48.money back. More of an economic impact. Just a highlight around the
:10:49. > :10:53.world, this country is being hammered at the moment. We are
:10:54. > :10:58.talking about inflation of 700. It was up to 500, it is tougher a
:10:59. > :11:03.country like Venezuela that is so dependent on the oil price. The cars
:11:04. > :11:08.of the political situation and the restrictions on free trade of goods,
:11:09. > :11:12.it is now basic goods are Venezuelans, it is extremely rare.
:11:13. > :11:17.Companies and stores can keep jacking up the price, unless you
:11:18. > :11:27.have a runaway inflation situation. I want to talk to you about Europe.
:11:28. > :11:33.This is not sustainable surely? What happens? The inflation continues to
:11:34. > :11:39.go that way, unemployment. Is this a bailout or an IMF scenario? Global
:11:40. > :11:43.organisations are paying attention, there will be some step it whether
:11:44. > :11:50.it is a big political change or the IMF saying we have to get this
:11:51. > :11:55.figured out. It means a lot in Europe, the delay in the sales tax,
:11:56. > :12:00.the hike in Japan, it has helped the Asian markets, it has not fed
:12:01. > :12:06.through this morning to the European ones, it is a holiday weekend the
:12:07. > :12:10.UK. The markets are a bit quiet, a wait and see. The last day in May
:12:11. > :12:15.when next month we have so many market moving events and then it is
:12:16. > :12:18.a quieter part of the week. You will come back and take us through the
:12:19. > :12:27.newspapers. We will talk about robots. Still to come: being paid to
:12:28. > :12:31.share your personal information. We will hear from the new website that
:12:32. > :12:37.claims it is putting consumers back in control of their data. On that
:12:38. > :12:42.note, give us a tweet. Do you trust organisations with your data and
:12:43. > :12:48.would you flog it for some money? You are with business live from BBC
:12:49. > :12:53.News. It is set to be a tough time for the class of 2016 graduates this
:12:54. > :12:58.year. They will find it harder to get a job after university than in
:12:59. > :13:04.previous years. Jobs advertised down 8% and the average pay offered has
:13:05. > :13:09.fallen to 2013 levels. Rob Young is in our business newsroom. How tough
:13:10. > :13:15.are things actually for graduates? It seems people leaving university
:13:16. > :13:20.trying to get a job of being hit by a double whammy. The number of
:13:21. > :13:25.graduate level jobs advertised is down 8% on a year ago, still 13,000
:13:26. > :13:30.of them advertised in April. This report from the jobs website says
:13:31. > :13:34.that entry-level salaries have been falling as well, they have gone
:13:35. > :13:43.backwards, down to the level they were at two and a half years ago,
:13:44. > :13:49.still at a pretty decent ?23,000. Does it suggest that businesses are
:13:50. > :13:57.just not confident about the future? And of course just around the corner
:13:58. > :14:02.at the EU referendum. This has been described as the toughest jobs
:14:03. > :14:06.market the years, but recruitment experts say this reflects a wider
:14:07. > :14:10.jobs market and it may well be this is a temporary factor because
:14:11. > :14:14.businesses are concerned about the outcome of the European Union
:14:15. > :14:19.referendum. Economists also say there are other factors at play here
:14:20. > :14:22.as well. If you look around the world, there are slowing economies
:14:23. > :14:30.such as the United States and China as well. We appreciate your time, we
:14:31. > :14:36.will talk to you soon. Rob Young joining us from our fancy newsroom.
:14:37. > :14:46.We have the tablet thingy and it is not working. LAUGHTER
:14:47. > :14:51.We have already mentioned the Volkswagen, check out our website,
:14:52. > :15:07.the boss was saying false wagon is satisfied. -- false -- Volkswagen.
:15:08. > :15:14.He said it was a challenging environment. Sales are down by 5%
:15:15. > :15:22.between now and the end of the year. Our top story: India's predicted
:15:23. > :15:27.to hold onto its ranking as the world's fastest
:15:28. > :15:30.growing major economy, but can it become the powerhouse
:15:31. > :15:36.for world growth? Would you share your personal
:15:37. > :15:41.information if you were paid for it? Consumer data can be incredibly
:15:42. > :15:44.valuable but often we don't realise it is worth and end up
:15:45. > :15:48.giving it away for free. Putting a value on personal
:15:49. > :15:53.data can be tough, but to give you an idea the firm
:15:54. > :16:04.ESOMAR says the global market research industry is worth
:16:05. > :16:08.$43 billion a year. But the balance of power
:16:09. > :16:10.could be shifting. New EU legislation due out in 2018
:16:11. > :16:13.requires consumers to give explicit permission before
:16:14. > :16:23.companies hold their details. One firm getting to grips
:16:24. > :16:25.with that shift is People.IO. It lets consumers licence their data
:16:26. > :16:30.to companies and says each person's Nicholas Oliver, founder
:16:31. > :16:34.of People.io, a company that allows consumers
:16:35. > :16:46.to license their data Great to have you in the studio.
:16:47. > :16:49.You're quite good, quite savvy. I give you my information and I want
:16:50. > :16:51.to know what sort of information you're asking for and you're going
:16:52. > :16:55.to give me some money for that? Exactly. The way that it works is
:16:56. > :16:59.giving you more control over it. So the important thing is we're not
:17:00. > :17:02.selling your data to anybody. We're not sharing your data outside of the
:17:03. > :17:06.system and anything that you're putting into it is stored within the
:17:07. > :17:11.system. What are you asking from me though? May name? From the colours
:17:12. > :17:14.you like to where you like going on holiday because what's really
:17:15. > :17:21.interesting is you as a person have so many fascinating things about you
:17:22. > :17:25.that advertisers shouldn't know. I just wonder how much it will work
:17:26. > :17:31.because people are already giving away this data free. You fill out
:17:32. > :17:36.your profile on Facebook or Twitter, you tell people what your favourite
:17:37. > :17:39.colours and what your birthday is? That's what the new European
:17:40. > :17:43.regulation is going to start creating an interesting area. A lot
:17:44. > :17:47.of this data is being collected without you realising it. You go on
:17:48. > :17:52.mainstream publishing websites and there are 50 or 60 different
:17:53. > :17:54.companies tracking you as you're browsing around the internet. We
:17:55. > :17:58.will start to see more control for the consumer. As we see that, they
:17:59. > :18:06.will start to realise the value of their data. You were talking before
:18:07. > :18:10.the show started, talking about when we fill those loyalty cards out for
:18:11. > :18:12.a supermarket or airline, how valuable is information. I could
:18:13. > :18:16.give you the information, but it is out there. As a lay man, I'm
:18:17. > :18:20.confused by that, why is there a value to you when it is already out
:18:21. > :18:26.there? The way that it is working is, you start respond to go
:18:27. > :18:31.questions yourself. And by creating your own individual profile the
:18:32. > :18:34.brands are able to talk to you as an individual, they can talk to you as
:18:35. > :18:38.an individual without knowing who you are. Whilst you retain the
:18:39. > :18:42.control and the privacy, you're able to create a lot more value because
:18:43. > :18:45.it is a one-to-one communication instead of mass conversation. What
:18:46. > :18:49.kind of companies do you think would be interested in buying the data
:18:50. > :18:53.from you? So any company that understands the value of the
:18:54. > :18:56.consumer having the control. I think more and more big brands are
:18:57. > :19:01.understanding consumers should be the one in control because if you're
:19:02. > :19:05.disrupting their life or they feel like you are being evasive or taking
:19:06. > :19:09.advantage of that data, you as a consumer won't like that brand as
:19:10. > :19:12.much. By giving you the control, any smart brand realises that's the way
:19:13. > :19:15.to do it. The important thing, we are not giving them your data, we
:19:16. > :19:20.have the platform that allows them to connect with you, without sharing
:19:21. > :19:31.the data. That's a really interesting point. Once you've given
:19:32. > :19:35.them data they hold it? What's important if you look across the
:19:36. > :19:39.market, some of the biggest and successful companies don't own the
:19:40. > :19:46.assets. Facebook doesn't own the content. Airbnb don't own the
:19:47. > :19:50.property. Why would you want to own the data. What happens if Ben and I
:19:51. > :19:55.say we want to leave. We've had enough of you? What do you do? What
:19:56. > :20:00.promises? What is the guarantee that... It all gets deleted. Really?
:20:01. > :20:04.We are working with the best lawyers in Europe at the moment to make sure
:20:05. > :20:10.that you as a consumer have the control. Nicholas, great stuff. I
:20:11. > :20:14.know we have got to wrap it up, but you had angel investment. We have
:20:15. > :20:22.just finished our second investment round and we have Wire which is
:20:23. > :20:27.Telefonica's programme. You're young too, aren't you? The guy is going to
:20:28. > :20:28.be a millionaire before we know it T wrong path I took! Nicholas, great
:20:29. > :20:36.stuff. Nicholas Oliver, thank you. Now, after six decades in football,
:20:37. > :20:39.the only player ever to have won three World Cup winning medals,
:20:40. > :20:41.Brazil legend Pele has decided to auction off the memorabilia
:20:42. > :20:43.he has accumulated Here are some of the weird
:20:44. > :22:02.and wonderful things you could buy. Would you buy any of it? Maybe.
:22:03. > :22:09.Maybe. Would you buy any of it? Maybe if the price is right.
:22:10. > :22:19.Can we start with the robot story? We've got pictures of it. A viewer
:22:20. > :22:31.tweets in from Nairobi, she says, "A robot in my home? Yes! " What would
:22:32. > :22:35.you do? There could be a lot of Dirksal values syncing up to
:22:36. > :22:39.lighting and safety maybe if people are away from their home for hours
:22:40. > :22:43.taking pictures and sending them to you on your smartphone. It depends
:22:44. > :22:49.how connected it can get and if people want to buy that ?400 price
:22:50. > :22:54.mark. You know with an ageing population around the world, and you
:22:55. > :22:58.know, I can say look, "Hands up, my mum is by herself in Australia, not
:22:59. > :23:03.doing that well." We are looking at get ago carer in to visit twice a
:23:04. > :23:08.week. Put the robot in, connect with a cam ration we could check-in. It
:23:09. > :23:17.gives you piece of mind, but it doesn't give the human contact. It
:23:18. > :23:21.will say, "Take your pills." It has the reminder effects. I don't know
:23:22. > :23:27.if it has the human caretaking skills. You have the smart devices.
:23:28. > :23:38.Like I can control the heating from my phone. Can you really do that? I
:23:39. > :23:42.had to deactivate the automatic robotic element where it said, "We
:23:43. > :23:46.will figure out the schedule. My schedule is over the place." There
:23:47. > :23:50.is an element of that, but it moves in that direction. A first step in
:23:51. > :23:57.the artificial intelligence journey. We can't get away from it. This is
:23:58. > :24:02.the future, robots. There will be robots doing our job. Don't you
:24:03. > :24:07.tweet in saying, "A better job." When they start doing the hovering
:24:08. > :24:17.and ironing where does it stop? The sharing community around the world,
:24:18. > :24:21.it is big. We've got Airbnb and Uber, it was in the FT where its
:24:22. > :24:25.European Commission is urging European EU countries don't ban
:24:26. > :24:31.these things. It is an interesting dynamic right because in the UK you
:24:32. > :24:34.have Uber and Airbnb, growing and working very well or engaging in the
:24:35. > :24:38.population and in the economy whereas other countries like France
:24:39. > :24:42.have completely shot down the institution of Uber on a large
:24:43. > :24:45.scale. This is a classic example of the EU 28 regular lasses having
:24:46. > :24:51.different rules in different countries. It is confusing for
:24:52. > :24:56.start-ups or companies like Uber and Airbnb get ago foot hold in a region
:24:57. > :25:00.that has so many different rules. Some will be relieved to hear this.
:25:01. > :25:05.They rely on the services and they want to see them flourish. Others
:25:06. > :25:10.like black cab drivers perhaps not so happy. That's the biggest
:25:11. > :25:18.resistance in France. The local taxi drivers saying, "This is eating into
:25:19. > :25:22.our market share." One thing you don't tend to use much is cash when
:25:23. > :25:28.you are using these apps. Well said. You should take this up as a job!
:25:29. > :25:32.Plastic notes. They are modifying the designs so they don't stick
:25:33. > :25:36.together. If we get them, count carefully before you spend them! OK.
:25:37. > :25:42.We have had plastic money in Australia for a long time. Yeah,
:25:43. > :25:45.right, you are a step ahead. I don't remember them sticking together.
:25:46. > :25:49.Thank you. It has been a pleasure. Have a great day. We will see you
:25:50. > :25:53.soon. That's it from Business Live. Thanks for watching. You've got more
:25:54. > :26:07.business throughout the rest of the day. I do. I do. .
:26:08. > :26:13.Hello there. Good morning. If you're spending your day in northern or
:26:14. > :26:17.western areas of the British Isles expect another fine, dry and mosty
:26:18. > :26:20.sunny one. However, further east it is a different story. This rope of
:26:21. > :26:21.cloud has been