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