:00:00. > :00:07.This is Business Live from BBC News with Susannah Streeter
:00:08. > :00:15.So should humans get paid to do nothing?
:00:16. > :00:21.Switzerland votes on a basic monthly income for all,
:00:22. > :00:41.Live from London, that's our top story on Friday 3rd June.
:00:42. > :00:45.Proponents say it would help to fight poverty,
:00:46. > :00:51.but can Switzerland afford the price tax at $25 billion a year?
:00:52. > :00:56.Rail disruption in France as unions continue their battle
:00:57. > :01:01.Meanwhile, as air-traffic controllers call off their strike,
:01:02. > :01:03.we look at the damage to the economy.
:01:04. > :01:12.And we take the temperature of the financial markets.
:01:13. > :01:16.So far they are up in Europe following a rise in the US.
:01:17. > :01:19.It's designed to halt drones in their tracks
:01:20. > :01:22.and is about to be trialled by the US's aviation authority.
:01:23. > :01:25.We'll have our technology guru Rory Cellan-Jones here to give us
:01:26. > :01:31.the details and all the rest of the big tech stories of the week.
:01:32. > :01:34.And today we're also looking at a story about how the gender pay
:01:35. > :01:40.Yep, research suggests that when parents fork out pocket money,
:01:41. > :01:43.sons get given more money than daughters.
:01:44. > :01:45.So we want to know, did that happen with you?
:01:46. > :01:48.Did your brothers get more, or did you get more
:01:49. > :02:03.We start in Switzerland, where voters are about to be asked
:02:04. > :02:08.Should there be free money for everyone?
:02:09. > :02:15.But it's actually a bit more complicated than that.
:02:16. > :02:18.A referendum this weekend will decide whether Switzerland will
:02:19. > :02:23.introduce an "unconditional basic income" for the whole population.
:02:24. > :02:25.That is, an equal monthly payment to each citizen,
:02:26. > :02:35.Every Swiss adult would receive around $2,500 a month,
:02:36. > :02:37.regardless of whether they're working or not.
:02:38. > :02:44.Existing welfare programmes would be scrapped, but the costs
:02:45. > :02:47.would still be enormous, an estimated extra
:02:48. > :02:56.That would have to be made up by higher sales taxes on goods
:02:57. > :03:00.The Swiss aren't the only ones looking at this.
:03:01. > :03:03.Finland is due to trial a universal basic income next year,
:03:04. > :03:05.but on a much more limited scale, and just a few
:03:06. > :03:10.And in the Netherlands, the city of Utrecht is also
:03:11. > :03:15.Despite this, critics say the plan is unaffordable.
:03:16. > :03:23.Luzi Stamm is a member of parliament for the Swiss People's Party.
:03:24. > :03:30.My major criticism is simple. With open borders, it is a total
:03:31. > :03:34.impossibility, especially for Switzerland, with high living
:03:35. > :03:38.standards. If you would offer every individual a Swiss amount of money,
:03:39. > :03:40.you would have billions of people who would try to move into
:03:41. > :03:56.Switzerland. Let's talk about the money. The
:03:57. > :04:01.funding behind this. Switzerland thing, we scrap the current system,
:04:02. > :04:06.but the money in and add a bit extra. It is only Switzerland who
:04:07. > :04:13.could talk about these sums! It is a very wealthy nation, a large basic
:04:14. > :04:16.income of their model. It depends on the amount, every country will do it
:04:17. > :04:21.differently. The benefits are you cut bureaucracy, you limit the
:04:22. > :04:27.amount of time taken to work out all of these extra benefit payments and
:04:28. > :04:31.give people the security to become entrepreneurs and make more money
:04:32. > :04:35.eventually to go into the covers. Yes, you give people a platform from
:04:36. > :04:45.which they can learn, work, care for their family. The critics say, with
:04:46. > :04:51.the open borders, people will... Let's say they do 2500 a month,
:04:52. > :04:58.hello, we are going to Switzerland! Every country has rules on assets to
:04:59. > :05:04.a visit system, it will apply to basic income. It may be a year or
:05:05. > :05:09.two before it qualifies. People don't think it will be passed, it is
:05:10. > :05:15.unlikely. It is more putting the idea on the table. Absolutely.
:05:16. > :05:22.Antennas would be delighted to get 25%, because they have created a
:05:23. > :05:29.national debate. They will roll on with their campaign. This has been
:05:30. > :05:35.tried elsewhere, Finland is trying it, is tracked, but Canada, where it
:05:36. > :05:41.has been tried, what is the result? Canada and the US did, but in Canada
:05:42. > :05:46.people were healthier, they learned more, they had a better sense of
:05:47. > :05:52.well-being, and Canada is trying it again, Antonio, Q, Prince Edward
:05:53. > :05:55.Island. Did they find it affordable? It was a pilot, which was
:05:56. > :05:57.affordable. It depends on how you construct the system on the
:05:58. > :06:08.affordability fund. A boat carrying hundreds of migrants
:06:09. > :06:13.has cat sized off the Greek island of Crete. A major rescue operation
:06:14. > :06:16.is under way, according to the Greek coastguard.
:06:17. > :06:20.The number of people in distress is reported to be in the hundreds,
:06:21. > :06:32.people are said to be in the water, people have been thrown like boys --
:06:33. > :06:34.life buoys. We will keep you updated on the
:06:35. > :06:35.news. Shares in troubled airbag
:06:36. > :06:38.manufacturer Takata have been trading higher in Asia
:06:39. > :06:40.following media reports that the business is in talks
:06:41. > :06:44.to raise fresh investment. According to Reuters,
:06:45. > :06:45.Michigan-based airbag maker Key Safety Systems
:06:46. > :06:50.is considering a deal with Takata. The Japanese company's
:06:51. > :06:52.faulty devices have led to the recall of millions of cars
:06:53. > :06:58.around the world. They have been linked to the loss of
:06:59. > :07:03.11 lives and 100 injuries. The Opec group of oil-producing
:07:04. > :07:07.nations has failed to agree a cap on crude production
:07:08. > :07:09.at its twice-yearly Some members had been pushing
:07:10. > :07:14.for a deal to prop up oil prices, which have recovered in recent
:07:15. > :07:19.months but are still down In a statement, Opec
:07:20. > :07:26.said its members were committed to Speaking after the meeting,
:07:27. > :07:32.Saudi Arabia pledged that it would not flood the market
:07:33. > :07:37.by increasing production. Japanese investigators have
:07:38. > :07:40.raided Suzuki Motors' head office amid a probe
:07:41. > :07:42.into the company's Last month, Japan's fourth-largest
:07:43. > :07:48.car maker said that an internal probe found that its testing had not
:07:49. > :08:08.complied with domestic Looking at our section of the
:08:09. > :08:17.tablet. This is on the BBC website. Fanning to go to France? Yes, by
:08:18. > :08:23.car. Not by a! They had some issues last week.
:08:24. > :08:28.The latest industrial unrest is to hit the Air Traffic Control is.
:08:29. > :08:34.Air Traffic Control is called off a four-day strike yesterday. They had
:08:35. > :08:39.a strike for one day. They have called it off temporarily. Jim the
:08:40. > :08:42.14th they are planning more strike action, in the middle of the big
:08:43. > :08:51.tournament, the big football tournament. On top of that, we have
:08:52. > :08:56.got Air France pilots striking. And these huge floods of. A sticky
:08:57. > :09:01.situation as far as transport is concerned.
:09:02. > :09:06.Being an aviation, if air traffic control has a strike in France, it
:09:07. > :09:09.is not just affect planes in and out of France, it is those going over
:09:10. > :09:12.France. But we will have more on that later in the programme.
:09:13. > :09:14.The US Government has asked Chinese telecoms giant Huawei to declare
:09:15. > :09:18.whether it's sending US technology to rogue nations, including Syria,
:09:19. > :09:27.That's according to reports by the New York Times this morning.
:09:28. > :09:33.Mariko, what have we heard on this story?
:09:34. > :09:43.There she is! The company is not accused of any wrongdoing at this
:09:44. > :09:48.stage. The New York Times says the company is being investigated as to
:09:49. > :09:51.whether it broke the rules which bank and police from exporting
:09:52. > :09:59.American technologies to sanctioned countries. Huawei has been expanding
:10:00. > :10:02.rapidly, but they have expanded into countries that are sanctioned by the
:10:03. > :10:09.United States, and that is where the issue is. It is smaller rivals, they
:10:10. > :10:13.were investigated for the same issue and were slapped with trade
:10:14. > :10:19.sanctions, said the company cannot access any American components or
:10:20. > :10:21.software. While it is not confirmed it is raising tensions between the
:10:22. > :10:26.two ahead of dialogue in Beijing from Sunday.
:10:27. > :10:29.Shares in Asia have risen, but trading activity has been pretty
:10:30. > :10:31.weak with quite of bit of wariness around.
:10:32. > :10:34.Investors are waiting for a US jobs report out later today,
:10:35. > :10:37.which would give more indication about the strength of
:10:38. > :10:40.the world's largest economy and whether the Federal Reserve
:10:41. > :10:43.will raise rates sooner rather than later.
:10:44. > :10:56.This is the state of play in Europe at the moment.
:10:57. > :10:59.Yesterday, the main indices in the US ended higher.
:11:00. > :11:01.Michelle Fleury has more details about what's ahead
:11:02. > :11:15.It is jobs Friday for investors, the big market event is the release of
:11:16. > :11:19.the American Labour Department's monthly employment report, providing
:11:20. > :11:23.a real-time snapshot of the recovery. The numbers are likely to
:11:24. > :11:29.be modelled because of a strike in the rise of the medication workers,
:11:30. > :11:34.but economists hope the report will show 164,000 jobs were created in
:11:35. > :11:38.May, and the average hourly wage rose 02%. A strong number would
:11:39. > :11:44.confirm the economy is bouncing back, and may justify a rate
:11:45. > :11:48.increase by the Central bank in June or July. A weak report might
:11:49. > :11:53.compensate the Federal Reserve's job, suggesting the weakness abroad
:11:54. > :11:56.is having a knock-on effect on American growth. Investors can look
:11:57. > :11:59.for further clues from a speech later on Friday by the Fed Governor,
:12:00. > :12:16.and then from the chair on Monday. Happy Friday! Let's stay with the
:12:17. > :12:22.US, it is that time where we look at the American jobs numbers. More
:12:23. > :12:28.importantly, it is not so much the numbers, it is looking at wage
:12:29. > :12:31.growth. It is the detail, the hours worked and the amount. It is
:12:32. > :12:37.productivity, how many hours people are working, our people being drawn
:12:38. > :12:41.into Labour, and how much are they getting paid per hour? Of the
:12:42. > :12:47.inflationary forces from the tightening Labour market showing
:12:48. > :12:53.through in terms of what people take home? That is key, as to whether the
:12:54. > :12:57.American Federal Reserve will raise interest rates sooner rather than
:12:58. > :13:02.later. Absolutely, all eyes are on the summer, there is a meeting on
:13:03. > :13:07.the 15th of June. Markets are not really expecting an interest rate
:13:08. > :13:15.rise, there is a 25% chance. Most people are betting on a July rate
:13:16. > :13:23.rise. 50% chance. Is there a press conference arranged for July? They
:13:24. > :13:31.only set those up... They schedule them... I have not checked! There is
:13:32. > :13:35.one in June. We get indications about the detail
:13:36. > :13:40.about how the economy is doing, etc why they did not decide to raise
:13:41. > :13:45.rates at that time. The mitigation is key, they are trying to do what
:13:46. > :13:49.they can to keep the rest of markets calm as they moved to come off the
:13:50. > :13:53.emergency interest loan. We know the market will be watching those
:13:54. > :13:54.numbers today, you will come back and take through the papers. Some
:13:55. > :13:56.good stories. It's designed to halt
:13:57. > :14:00.drones in their tracks, and is about to be trialled
:14:01. > :14:05.by the US's aviation authority. We'll have our technology
:14:06. > :14:07.guru Rory Cellan-Jones You're with Business
:14:08. > :14:19.Live from BBC News. It's official, that once-iconic
:14:20. > :14:23.brand BHS will disappear from the high streets
:14:24. > :14:29.after 88 years. But there are still serious
:14:30. > :14:32.questions about how it came This time yesterday it was crunch
:14:33. > :14:55.time, what's the latest? Another sad day for the UK and the
:14:56. > :15:01.high street? It's the end of an era, after almost 90 years of trading BHS
:15:02. > :15:06.will stop trading. It's more than 160 stores that will be holding
:15:07. > :15:10.closing down sales. 11,000 workers face an uncertain period. Insolvency
:15:11. > :15:15.practitioners say it's likely that most of those jobs will go, among
:15:16. > :15:19.the 8,000 people directly employed by BHS and the 3,000 indirectly
:15:20. > :15:24.employed because administrators yesterday decided that the battle to
:15:25. > :15:27.rescue BHS was over. That there was no potential buyer with deep enough
:15:28. > :15:32.pockets to be able to turn the brand around. I guess also lots of
:15:33. > :15:39.questions surely, what happened to the bloke that sold it for a quid,
:15:40. > :15:43.the bloke that bought it, took out something like ?400 million, correct
:15:44. > :15:47.me if I am wrong and sold it for one quid. A lot of questions about him,
:15:48. > :15:53.Philip Green we are talking about. The retail billionaire and owner of
:15:54. > :15:58.Top Shop. He sold BHS for ?1 over a year ago. He sold it to a man with
:15:59. > :16:05.no retail experience declared bankrupt previously. They'll give
:16:06. > :16:08.their side to the story to MPs. Philip Green has been criticised for
:16:09. > :16:13.taking money out of the business and not investing enough in the company,
:16:14. > :16:16.as well. He has been strongly criticised by one of Britain's main
:16:17. > :16:21.business organisations this morning, as well. Have a great weekend,
:16:22. > :16:26.appreciate your time, thank you. That story is reflected on the BBC
:16:27. > :16:31.live site. We have the lamentable failures at
:16:32. > :16:36.BHS, according to the Institute of Directors, Simon Walker. He is not
:16:37. > :16:41.impressed about how the retailer was run by Sir Philip Green. He told the
:16:42. > :16:44.Today programme, we spent a lot of time agonising about the loss of
:16:45. > :16:48.trust in the business community and I think we can see why this is.
:16:49. > :16:53.There has been a lamentable failure of behaviour. That story is one to
:16:54. > :16:56.watch. Lots more evidence in parliament coming up.
:16:57. > :17:03.So should humans get paid to do nothing?
:17:04. > :17:06.Switzerland votes on a basic monthly income for all -
:17:07. > :17:13.It has been a busy week in the world of technology,
:17:14. > :17:15.with the US aviation authority about to test a new drone-freezing
:17:16. > :17:21.ray gun, the Chinese smartphone maker Xiaomi picking up patents
:17:22. > :17:24.from Microsoft and companies putting increasing pressure on customers
:17:25. > :17:41.Rory is here, the skipper of technology! Good morning. This drone
:17:42. > :17:45.thing, seriously, the drone either falls out or freezes, what happens?
:17:46. > :17:48.We have two fantastic drone stories this week. The good and possibly the
:17:49. > :17:53.frightening side of drones. The frightening side, lots of airports,
:17:54. > :17:58.in particular, worried about drones coming within the air space. Lots of
:17:59. > :18:02.near-misses and some reports of drones striking aircraft. They've
:18:03. > :18:05.not been confirmed. A lot of rumours, rather than actual damage
:18:06. > :18:09.caused. But, a big issue for airports. The federal aviation
:18:10. > :18:16.authority in the States is looking at the system droved -- developed by
:18:17. > :18:21.a UK company which spots drones in prohibited air space, targets them
:18:22. > :18:24.and latches on to them. Effectively interrupts communications between
:18:25. > :18:28.them and their owners and freezes them, holds them there. The theory
:18:29. > :18:33.will be, you have a drone flying it and it stops working properly, you
:18:34. > :18:39.bring it back to land. It's been seen as a good way of doing it. It's
:18:40. > :18:48.a brilliant idea. Let's have positive news. I picked this out,
:18:49. > :18:52.Walmart says it's six to nine months from beginning to use drones to
:18:53. > :18:57.check warehouse inventories. There's been talk about retailers using
:18:58. > :19:02.drones for various things. Amazon talking about delivering parcels
:19:03. > :19:06.with them, that looks fanciful. Maybe now but, in the future,
:19:07. > :19:13.short-term future, it looks more likely. It does. This plan appears
:19:14. > :19:17.to be really micro drones with great tracking capabilities, hovering
:19:18. > :19:29.above giant warehouses saying, yeah, perhaps even controlling the
:19:30. > :19:35.movement of goods across them. Xiaomi is in the news for another
:19:36. > :19:41.reason. Yes, also getting into drones and a big Chinese smartphone
:19:42. > :19:47.business, came from nowhere, doing well. And now finding competition
:19:48. > :19:51.tough. Wants to get into western markets, inhibited by the fact it
:19:52. > :19:57.keeps being sued over intellectual copyright. It's buying Patents from
:19:58. > :20:03.Microsoft which looks like it's getting out of making phones and
:20:04. > :20:12.concentrating more on putting services everywhere. It's hoping it
:20:13. > :20:19.gives Patents to Xiaomi and they put Microsoft office and Skype on its
:20:20. > :20:29.phones. A new strategy. Will the west welcome them? 5th biggest phone
:20:30. > :20:33.maker at the moment. There are other big Chinese phone makers. It's stiff
:20:34. > :20:46.competition and is trying to take it abroad. Let's talk about Uber, you
:20:47. > :20:50.get the Saudis and 3. 5 billion at Uber, that value gives... 62. It
:20:51. > :20:57.maintains the same extraordinary value. What really interests me here
:20:58. > :21:00.and is almost scary for anybody not from Silicon Valley is the amount of
:21:01. > :21:04.capital a company like this can deploy before it needs to become
:21:05. > :21:08.profitable. It's got so much money now from, not just the Saudis, but
:21:09. > :21:13.other investors, how can you compete against that? But interestingly in
:21:14. > :21:16.parts of the world rivals are competing strongly. And particularly
:21:17. > :21:22.fascinating what happens in Saudi Arabia, there is a quote from one of
:21:23. > :21:25.Uber's founders saying they can benefit riders, drivers and cities
:21:26. > :21:30.and look forward to partnering economic and social reforms in Saudi
:21:31. > :21:35.Arabia. The key thing, Saudi women can't drive, apparently heavy users
:21:36. > :21:41.of Uber... Uber is expected to go into driverless cars. Not in the
:21:42. > :21:47.short-term and will Uber be under pressure to allow Saudi women to
:21:48. > :21:53.drive their cars? We have have to wrap it up. We didn't get to talk
:21:54. > :21:55.about this quote. We are all living in video games and you two are
:21:56. > :21:58.characters! We've been keeping an eye
:21:59. > :22:01.on the wave of strikes and protests sweeping across France over proposed
:22:02. > :22:04.reforms to labour laws - effectively making it easier
:22:05. > :22:07.to hire and fire workers. Train services were cut
:22:08. > :22:10.by half on Thursday, with more disruption expected today
:22:11. > :22:14.- although strikes on the Paris Metro have been cancelled
:22:15. > :22:17.and a walkout by air traffic control To add to the chaos,
:22:18. > :22:31.Air France pilots have now called for a strike starting on June 11th
:22:32. > :22:34.to coincide with the Euro 2016 football championships
:22:35. > :22:37.being held in France. It's a subject that's causing major
:22:38. > :22:39.concerns for airline chiefs at the IATA annual general meeting
:22:40. > :22:51.in Dublin. As soon as these strikes are
:22:52. > :22:55.actually announced, a couple of days before our customers, the airlines
:22:56. > :22:59.need to take certain measures, it already has an operational impact.
:23:00. > :23:02.It does impact our profitability, as well. But also probably most
:23:03. > :23:06.importantly the passengers, customers, they need to take certain
:23:07. > :23:09.measures. They've already taken certain measures, they've changed
:23:10. > :23:14.plans, whether it's holiday or business travel plans. It's becaming
:23:15. > :23:17.anyhow, whether the strike is taking place.
:23:18. > :23:22.Sue is back to go through the papers. Let's start at this gender
:23:23. > :23:25.gap starting with childhood and pocket money. Some tweets, one says
:23:26. > :23:34.I always thought it was because I was the younger one. Never thought
:23:35. > :23:41.of it that way Ryan says. Being an only child has benefits, he says.
:23:42. > :23:44.Here is something that goes against the grain Agnes says I have always
:23:45. > :23:49.earned more than my brother. Good to hear that. What do you think? It's
:23:50. > :23:54.fascinating. Everyone thinks it's women in the workplace, it's bosses
:23:55. > :24:01.and actually it seems to be more within families. The gap is now 12%.
:24:02. > :24:08.It's widened substantially from 2% last year in the study. Is this just
:24:09. > :24:11.a blip then? It may be but what they found is that the boys were more
:24:12. > :24:16.dissatisfied with what they were getting than the girls. There was a
:24:17. > :24:21.greater proportion of boys asking for more and feeling aggrieved they
:24:22. > :24:28.weren't getting enough. I understand how that works in a household, I do
:24:29. > :24:34.have two boys saying can I have a bit more? Do you have a daughter?
:24:35. > :24:48.She's too young for pocket money. The same rules will apply, I can
:24:49. > :24:54.assure you. A diplomatic household! Credit Suisse saying to workers go
:24:55. > :24:57.home early. This is about work-life balance. They've a lot of bad press
:24:58. > :25:02.in recent years and particularly at the junior level and people feel the
:25:03. > :25:07.need to be present and find it difficult to go home or find their
:25:08. > :25:12.social lives are disrupted and that leads to stress and reduced
:25:13. > :25:16.productivity and reduced retention of these people within the
:25:17. > :25:20.investment banks. Now they're being encouraged to have a Friday with
:25:21. > :25:26.family and friends that is guaranteed, no interruptions. Early
:25:27. > :25:33.finish on Friday or normal time? Between seven on Friday and 12 on
:25:34. > :25:38.Saturday. In about 20 seconds, Iran copper? Iran is opening up,
:25:39. > :25:43.sanctions got removed in January. They're showing interest in the nine
:25:44. > :25:49.copper mines that Iran has got. It's interesting that they've been trying
:25:50. > :25:56.to sell assets and Mothball things. This shows they may be getting on to
:25:57. > :26:02.the front foot, as well. Iran rebuilding its economy.
:26:03. > :26:05.That's all from us all today. Much more business news throughout the
:26:06. > :26:21.day on BBC. Hello there. Good morning. The
:26:22. > :26:28.weather has been stuck in a rut in recent days with a west-east split
:26:29. > :26:29.in recent days and it continues today. East it's a