:00:10. > :00:11.This is Business Live from BBC News with Jamie Robertson
:00:12. > :00:18.Don't ban Uber and AirBNB - that's the message from Brussels
:00:19. > :00:21.as European cities crack down on the sharing economy.
:00:22. > :00:42.Live from London, that's our top story on the 2nd of June.
:00:43. > :00:44.Be more caring to the sharing - that's the message the European
:00:45. > :00:48.Commission is poised to deliver today - in a bid to unify the
:00:49. > :00:53.Also in the programme: Strikes, price wars and security fears.
:00:54. > :00:56.Worrying times for the global airlines - but the boss of Lufthansa
:00:57. > :01:05.tells us - passengers have never had it so good.
:01:06. > :01:09.And most of us have a loyalty card - or three - somewhere in our wallets
:01:10. > :01:12.- they often give you discounts - but they also give companies
:01:13. > :01:13.a mine of information about their customers.
:01:14. > :01:22.We'll be talking to the woman to helped to create the Tesco Clubcard.
:01:23. > :01:27.Also today we're looking a story about the end of the
:01:28. > :01:30.Yep, apparently British workers are just too busy
:01:31. > :01:34.So on that note - we want to know what you do for lunch.
:01:35. > :01:36.Do you eat lunch Al Fresco or Al Desko?
:01:37. > :01:48.Let us know - just use the hashtag BBC Biz Live.
:01:49. > :01:54.Companies like Uber and AirBnb are going to get a set of guidelines
:01:55. > :01:57.from Europe today - telling them how they can be regulated.
:01:58. > :02:01.And it's thought governments are going to be told - let them be.
:02:02. > :02:04.That's not the way things have been going though.
:02:05. > :02:06.Last month, Berlin started one of the toughest crackdowns
:02:07. > :02:09.on AirBnb fining landlords without holiday permits.
:02:10. > :02:14.Uber has also had its fair share of problems in Europe -
:02:15. > :02:17.angry taxi drivers in France, Spain, Brussels and the UK
:02:18. > :02:21.have all held protests against the ride-sharing app.
:02:22. > :02:28.As well as a high profile raid on its offices in Paris last year.
:02:29. > :02:30.Later this year, the European Court of Justice is due to rule
:02:31. > :02:34.on whether Uber is just a digital service or instead a transport
:02:35. > :02:42.company - which could mean it faces more regulation.
:02:43. > :02:45.But the rise of the so-called sharing economy seems relentless.
:02:46. > :02:47.By 2025, accountants PWC reckons the global market will be over
:02:48. > :03:01.$335 billion from just 15 billion only two years ago.
:03:02. > :03:05.That is a big increase. Let's stay with this story.
:03:06. > :03:07.Debbie Wosskow, chair of Sharing Economy UK -
:03:08. > :03:08.the UK's own sharing economy trade body.
:03:09. > :03:11.She's also the founder of Love Home Swap, itself
:03:12. > :03:19.Debbie, great to have you won the programme. Let's start with this
:03:20. > :03:25.European Commission report. It could end up being a law, I guess? This is
:03:26. > :03:34.great news for the consumer. The only thing I can think of is Europe
:03:35. > :03:37.has got a tough job. It has got to convince industries, everything from
:03:38. > :03:43.taxis to hotels? The key thing about this report, which has not yet been
:03:44. > :03:48.released, says it is great news for the consumer because what it
:03:49. > :03:53.provides is standardisation across 28 European countries. What you have
:03:54. > :03:57.seen to date is very different treatment of sharing economy
:03:58. > :04:03.platforms. You have France where Uber executives have been threatened
:04:04. > :04:06.with jail. You have Berlin where AirBnb hosts, ordinary people
:04:07. > :04:11.renting out their home or a room for a few days a year, have been
:04:12. > :04:20.threatened with a 100,000 euros fine. This creates enormous
:04:21. > :04:23.uncertainty in the minds of the consumer. What can they do? We do a
:04:24. > :04:28.lot of stories where we talk about regulation. The European Court of
:04:29. > :04:34.Justice is going to make a decision whether Uber is a tech company or a
:04:35. > :04:39.transport company. Regulation always seems to be behind, technology goes
:04:40. > :04:42.forward and regulation is back here. I think it is consecrated because of
:04:43. > :04:50.the rate of change. The important thing about the sharing economy is
:04:51. > :04:52.it allows ordinary people to make money and save money from the assets
:04:53. > :04:55.the own and the skills they have. The great thing about our feeling
:04:56. > :05:02.about what this report today will say is it makes that easier for the
:05:03. > :05:06.consumer. But surely you have a problem where you have the growth in
:05:07. > :05:12.an industry like this, and you don't have the regulation for the taxi
:05:13. > :05:17.drivers, for people taking out an apartment in a city or whatever.
:05:18. > :05:22.Places have got to come up to certain standards. Shouldn't you be
:05:23. > :05:28.enforcing that in some way? Many of these sharing operations skip around
:05:29. > :05:32.those red relations? I think one of the points from the report which is
:05:33. > :05:39.interesting, and I would predict is a topic for the discussion to come,
:05:40. > :05:42.is the status of the work on the sharing economy platform. Are they
:05:43. > :05:47.employed by the platform, or are they completely independent as a
:05:48. > :05:54.contractor. We have talked about Uber a lot, but this applies to a
:05:55. > :05:58.lot of sharing economy businesses like companies delivering takeaway
:05:59. > :06:03.is, and people providing services like cleaning in the home. Are those
:06:04. > :06:09.people self-employed or are they employed? That has a huge impact on
:06:10. > :06:13.not just how the platform pays tax, but also things like health and
:06:14. > :06:16.safety. There is no solution there? I think it is complicated.
:06:17. > :06:23.I would absolutely put the UK at the forefront of this conversation. We
:06:24. > :06:36.have set up sharing economy UK, but we also the first company in
:06:37. > :06:43.the world to develop an independent trust We will help people be more
:06:44. > :06:49.confident that they will be treated in a uniform way. Thank you.
:06:50. > :06:51.Iranian Oil Minister Bijan Zanganeh has rejected suggestions OPEC
:06:52. > :06:54.would agree a production cap at its meeting in Vienna,
:06:55. > :06:56.saying "An output ceiling has no benefit to us".
:06:57. > :06:59.Tehran, which only recently returned to world oil markets after Western
:07:00. > :07:01.sanctions were lifted, has opposed any attempt to limit
:07:02. > :07:13.The taxi app Uber has attracted a $3.5 billion dollar investment
:07:14. > :07:17.from Saudi Arabia's sovereign wealth fund.
:07:18. > :07:20.The new money values the company at more than 62 billion dollars.
:07:21. > :07:22.The money will help it to expand in the Middle East,
:07:23. > :07:25.where the company says 80% of its users in Saudi Arabia
:07:26. > :07:29.are women - who are banned from driving themselves in the country.
:07:30. > :07:34.The European Central Bank is expected to raise growth
:07:35. > :07:37.and inflation forecasts when it meets later.
:07:38. > :07:40.But it's widely predicted to leave interest rates on hold and make no
:07:41. > :07:45.change to its massive economic stimulus policies.
:07:46. > :08:03.Perhaps no surprises there? I want to take a look at this. In Dublin,
:08:04. > :08:10.all the big bosses of the global aviation industry... This is your
:08:11. > :08:15.area. I love it! Ryanair is the largest carrier in Europe by
:08:16. > :08:20.passenger numbers. It continues to grow but later in the programme, we
:08:21. > :08:27.will hear from the big boss of Lufthansa. That is your's biggest
:08:28. > :08:34.airline by revenue. He will talk about security. He says passengers,
:08:35. > :08:39.you have never had a better? We will do that in a little bit.
:08:40. > :08:42.Keep control! Now we've heard about Saudi Arabia
:08:43. > :08:45.investing in Uber, it seems Singapore's sovereign wealth fund
:08:46. > :08:47.has also been splashing the cash. It's bought a billion dollars
:08:48. > :08:50.of shares in the Chinese Sharanjit Leyl is in
:08:51. > :09:06.Singapore for us. This is really interesting. There
:09:07. > :09:13.are quite a few New York hedge funds betting against Alibaba saying it
:09:14. > :09:21.will go even lower, even weaker, if you will? They are betting against
:09:22. > :09:31.that idea. These two Singapore funds have snapped up $1 billion of shares
:09:32. > :09:35.in this Chinese e-commerce firm. Japan's Softbank which is Alibaba's
:09:36. > :09:42.biggest shareholder, is selling off its stake in the firm to pay off its
:09:43. > :09:56.own debts. It will continue as Alibaba's largest shareholder. Two
:09:57. > :10:02.funds purchased $1 million worth of Alibaba's shares. They confirmed the
:10:03. > :10:19.transaction and declined to comment further. Alibaba purchased 2 billion
:10:20. > :10:22.stock from one of the funds. Senior executives purchased $400 million
:10:23. > :10:27.worth. They seem to be a lot of opportunities for other firms
:10:28. > :10:32.bidding to get a chunk of that as Softbank sells off a stake. Thank
:10:33. > :10:50.you. Let's have a look at the markets.
:10:51. > :10:58.The Nikkei is down. There is discussion about delaying a sales
:10:59. > :11:03.tax which should strengthen the market. Since Monday, we have seen
:11:04. > :11:12.the pound fall by 2 cents against the dollar. You can see the FTSE
:11:13. > :11:17.moving up quarter of 1%. Not a huge amount of change there. Tomorrow, we
:11:18. > :11:22.have got from the US jobs data. I think the markets are waiting to see
:11:23. > :11:24.what happens there. Michelle Fleury has more about what is ahead on Wall
:11:25. > :11:35.Street today. Friday's jobs report looms large. On
:11:36. > :11:40.Thursday, investors will get a foretaste with a release of the
:11:41. > :11:45.National employment report. It will probably show American companies
:11:46. > :11:51.took on more staff in May. Private companies are expected to have hired
:11:52. > :11:55.175,000 employees last month. Separately, Challenger Gray and
:11:56. > :12:04.Christmas will release its report on lay-offs. The federal bank's report
:12:05. > :12:10.known as the beige book, is already pointing to a tightening jobs
:12:11. > :12:16.market. Fed official save the economy continues to improve, it may
:12:17. > :12:23.soon be time for a rate hike. Chairwoman Janet Leyland said last
:12:24. > :12:25.week, probably in the coming months such a move would be appropriate #
:12:26. > :12:30.Janet Yellin. Let's stay with some market stories.
:12:31. > :12:39.Laurence Gosling is a familiar face. Can we use this section to talk the
:12:40. > :12:45.Opec meeting? Nothing will happen in Vienna today. I heard on my earlier
:12:46. > :12:50.programmes this morning, some oil experts saying this rise, it is
:12:51. > :12:54.around 50 bucks at the moment, it was $27 in January, this rise in the
:12:55. > :12:59.price of oil, some will say it is a temporary blip, it has been causing
:13:00. > :13:07.disruptions in Nigeria, Canada etc. Do you think it is a temporary blip?
:13:08. > :13:13.No, I do. I think we are on a sustained rise. We are not going to
:13:14. > :13:19.go back to $100. I think we will get $70 a barrel by the end of the year.
:13:20. > :13:23.Mainly because I think the outlook for the global economy is better
:13:24. > :13:27.than we thought it was in January. But there are other factors keeping
:13:28. > :13:32.the price down. Iran is coming on stream but also there is shale gas
:13:33. > :13:38.in the background. It is very cheap now to start up those new
:13:39. > :13:43.operations. As soon as the price gets to a certain level, or it will
:13:44. > :13:48.bring in supply? It is not so easy to turn these taps on in the US as
:13:49. > :13:53.people suggest. A lot of them have closed down because the price has
:13:54. > :13:59.dropped. For them to come back, it will require some positive US data.
:14:00. > :14:04.I think it is more to do with the politics, the Saudi versus Iran
:14:05. > :14:07.which has been playing out. But ultimately, the world economy,
:14:08. > :14:16.particularly China looks healthier than it did. In a word, Opec, still
:14:17. > :14:19.relevant? Less relevant than it used to be. You will come back and talk
:14:20. > :14:22.through the papers. Thank you. They can often give you discounts,
:14:23. > :14:26.but they also give companies a treasure trove of information
:14:27. > :14:28.about their customers. We'll be talking to the woman
:14:29. > :14:30.who helped to create You're with Business
:14:31. > :14:35.Live from BBC News. The fate of the collapsed high
:14:36. > :14:38.street retailer BHS is expected The company went into
:14:39. > :14:43.administration in April, just a year after it was sold
:14:44. > :14:48.by Sir Philip Green for ?1. The company's 11,000 staff
:14:49. > :14:50.will learn whether it will be Rob Young is in our
:14:51. > :15:07.Business newsroom. The fate of BHS is on a knife edge
:15:08. > :15:10.this morning. Sources close to it so they anticipated a decision will be
:15:11. > :15:14.made at some point today, whether to sell the retailer to a new owner, or
:15:15. > :15:19.whether to begin the process of winding it up. Potential buyers have
:15:20. > :15:24.come and gone in recent weeks, and it was thought there is only one
:15:25. > :15:27.serious buyer left in this process, and we were told yesterday that
:15:28. > :15:32.they'd needed refining, and a decision was likely to be made
:15:33. > :15:36.today. This has been an anxious time for the 11,000 workers at BHS whose
:15:37. > :15:43.jobs hang in the balance. Just briefly, what went wrong? Retail
:15:44. > :15:48.analysts say it was a retailer that failed to keep up with fashion
:15:49. > :15:53.trends, it was regarded as a bit out of date, and experts say that if the
:15:54. > :15:58.company is bought, it needs serious amounts of money to be able to turn
:15:59. > :16:01.it around, but if there isn't a buyer, this would be the biggest
:16:02. > :16:07.failure on the high street since Woolworths back in 2008. Rob Young,
:16:08. > :16:13.thank you for joining us. We will talk to again tomorrow. Let's have a
:16:14. > :16:21.look and see what is happening on BBC Business Live. This is all about
:16:22. > :16:26.the Premier League, it is way ahead of everybody else in terms of
:16:27. > :16:35.finances, 92 clubs earned ?4 billion last season. We knew this was on the
:16:36. > :16:44.cards. Is this all foreign investment, Lauren was saying it was
:16:45. > :16:57.a lot to do with Chinese investment. It is from all over the world. And
:16:58. > :17:05.Leicester is Thai, isn't it. I don't follow football. In
:17:06. > :17:07.Australia, we kicks a ball, but then we pick it up and run with it, too.
:17:08. > :17:12.Very confusing. Our top story - be more
:17:13. > :17:15.caring to the sharing. That's the message the European
:17:16. > :17:18.Commission is poised to deliver today in a bid to unify the approach
:17:19. > :17:22.to services like Uber and AirBNB Most of us have got a loyalty card
:17:23. > :17:32.stashed somewhere in our wallets. The same cards that also provide
:17:33. > :17:35.companies with a treasure trove One of those cards we're talking
:17:36. > :17:41.about is the Tesco Clubcard. It was introduced in 1995,
:17:42. > :17:48.became a runaway success and helped the company leapfrog its competitor
:17:49. > :17:54.Sainsbury's in the late 1990s. The loyalty card scheme was created
:17:55. > :17:57.by Edwina Dunn and her mathematician husband for a fraction
:17:58. > :18:08.of the cost of rival bids. I say mathematician advisedly,
:18:09. > :18:10.because that will become important in a second.
:18:11. > :18:12.She's now the chief executive of Starcount, which uses social
:18:13. > :18:15.media and financial data to try and help companies better
:18:16. > :18:24.And we have got her in the studio! Great to have you with us. Can I
:18:25. > :18:34.start with this, cause you mentioned about the science. I have a Tesco
:18:35. > :18:39.Clubcard, most people probably have one, and I get e-mails saying, this
:18:40. > :18:43.is on sale, this is good, they are products I have purchased in the
:18:44. > :18:48.past. So I blame you and your husband for that! You came up with
:18:49. > :18:54.the science behind this. When was that eureka moment? I don't think
:18:55. > :18:58.there had ever been data quite as rich as this before. People talk
:18:59. > :19:02.about big data, and every body thinks their data is valuable, and
:19:03. > :19:08.mostly it isn't. It is mostly things that don't translate to economic
:19:09. > :19:16.indicators, but what turned out was that how we shop is probably one of
:19:17. > :19:21.the most important economic indicators we have in our armoury
:19:22. > :19:25.today, because we can tell when the increased the size of the basket, we
:19:26. > :19:30.can tell when students come back home, we can tell when people lose
:19:31. > :19:34.their jobs. It is a really powerful indicator. But you say you are
:19:35. > :19:39.moving on away from just looking at what they buy but how they behave on
:19:40. > :19:45.social media, so you are looking at more in-depth view of how we behave.
:19:46. > :19:50.There are very few things that are predicted from what we bought
:19:51. > :19:56.before. But, serial, milk, we bought them last week, we buy them this
:19:57. > :19:59.week, but if you buy a car, travel, a luxury item, what you bought
:20:00. > :20:06.before is not a predictor of what you are going to buy. So what we are
:20:07. > :20:13.looking at now, used to beat you are what you eat, now it is you are what
:20:14. > :20:16.you love. We are looking at the persona of what it is you are
:20:17. > :20:22.passionate about, and that becomes a forecast of future intent. And is it
:20:23. > :20:29.the same science that you started back then? It isn't, interestingly.
:20:30. > :20:33.That is a really good question, because the maths we are using now
:20:34. > :20:38.is all about networks and connectivity. So it is who is
:20:39. > :20:42.connected to who. We are looking at the science of leaders and
:20:43. > :20:49.followers, because it is who you follow that is defining who you are.
:20:50. > :20:55.It is a bit creepy. The leaders are public entities. What we follow, the
:20:56. > :21:00.really shocking news is we have looked at girls and boys, and what
:21:01. > :21:03.they follow. Boys have quite a diverse portfolio of what they
:21:04. > :21:09.follow. The shocking thing about girls is on the whole, they follow
:21:10. > :21:15.celebrity and fashion exclusively. Much more narrow-minded, in a way.
:21:16. > :21:22.This will get me e-mails! This is the shocking truth. It is narrow,
:21:23. > :21:27.and actually, one of the things that I have found from this data is that
:21:28. > :21:31.maybe girls don't have enough role models, and it is another thing that
:21:32. > :21:38.I am really into. Easier to sell to them, then? It is easier to know
:21:39. > :21:42.what they're looking at, which is celebrity in fashion, and those are
:21:43. > :21:48.connected. There is always talk about the danger of our information
:21:49. > :21:53.being in the wrong hands. What is your take on the privacy laws? The
:21:54. > :21:56.great thing about leaders on social media is that they can't really get
:21:57. > :22:02.there unless they have 10,000 followers, so they are brands and
:22:03. > :22:09.public entities. They want to be seen and heard, so it is public
:22:10. > :22:15.data. I just pipped 10,000 followers, so that means I'm a
:22:16. > :22:20.public entity in my information can be out there? Is it easy to get the
:22:21. > :22:23.information? It is easy to get the data, and we know who is crazy about
:22:24. > :22:32.you and who is crazy about you and we can understand not only that they
:22:33. > :22:40.like you but what else they like... You are scaring the bid Jesus out of
:22:41. > :22:41.me! Thank you very much for coming in.
:22:42. > :22:45.Come on, James. Now, this Thursday, all the top
:22:46. > :22:48.airline bosses are in Dublin for the annual meeting
:22:49. > :22:50.of their trade body IATA, the International Air
:22:51. > :22:51.Transport Association. We've been talking to Carsten Spohr,
:22:52. > :22:53.the boss of Europe's He says the airline industry
:22:54. > :23:09.is constantly putting all efforts It is important to state that flying
:23:10. > :23:14.is and remains the safest way of transport. It has been, and with all
:23:15. > :23:16.the ongoing efforts to increase safety even further, it will be in
:23:17. > :23:22.the future, so even though we have had unfortunate incidents in the
:23:23. > :23:27.last month, historically flying is as safe as ever before, and I have
:23:28. > :23:33.not visited one meeting at this conference where we don't touch on
:23:34. > :23:40.safety. It is the number one, surely for Lufthansa and I think for the
:23:41. > :23:46.whole industry. Aaron is desperately try to find something. Boozy lunches
:23:47. > :23:52.are over. I thought they had been over four years. You can't afford to
:23:53. > :23:58.because your boss won't sign off your expenses the way they did. Does
:23:59. > :24:04.it make a difference to the way we do business? No, because lunch has
:24:05. > :24:15.been replaced by breakfast. Boozy breakfasts? No, sober breakfasts,
:24:16. > :24:20.and short ones. And do we see people having their lunch al desko? You
:24:21. > :24:27.don't have time to go for a big lunch in the middle of the day.
:24:28. > :24:32.Definitely boozy lunches are over. In the Scandinavian countries, it is
:24:33. > :24:37.highly publicised, I used to live in Copenhagen, they would make sure
:24:38. > :24:42.that you had a break and go to the canteen, because it was healthy for
:24:43. > :24:47.the mind. This story from Vancouver, it says house owners made more
:24:48. > :24:51.sitting on their assets than the entire population did working last
:24:52. > :25:04.year. Is this a surprise or story anywhere on the globe now? A lot of
:25:05. > :25:07.major cities, London is a great example, a single family home has
:25:08. > :25:12.been rising in price and value, because there is so much demand.
:25:13. > :25:17.But what does it mean about where money is? It isn't going to
:25:18. > :25:23.investment and business. It shows that there are what economists call
:25:24. > :25:27.asset bubbles, and a lot of wealth is in real estate, because it is a
:25:28. > :25:31.safe place in people's minds to put the money, because it is safer than
:25:32. > :25:34.the bank or stock market. They are not getting the returns from the
:25:35. > :25:39.bank, because interest rates are so low. How long do we have? That it!
:25:40. > :25:43.We will see you soon, Lawrence. There will be more business news
:25:44. > :25:48.throughout the day on the BBC Live web page and on World Business
:25:49. > :25:57.Report. We will be back here, I will be back
:25:58. > :26:13.in two hours. He is off. We will see you tomorrow!
:26:14. > :26:14.Most of us can look forward to some fine weather come the weekend.