:00:00. > :00:32.With iPhone sales falling, will Apple wows them at the developer
:00:33. > :00:36.summit this year? A major upgrade of Siri expected, the digital
:00:37. > :00:38.assistant. We will get an update for you.
:00:39. > :00:40.German Chancellor Angela Merkel is in China where she's played
:00:41. > :00:43.down talk of a trade war but warns of the need
:00:44. > :00:52.Our team in Beijing will tell us how that is going down. A dismal start
:00:53. > :00:58.to the trading week. Market watchers are on edge in Europe and in Asia,
:00:59. > :01:08.including beatings at the US Federal including beatings at the US Federal
:01:09. > :01:11.reserve and the bank of Japan. -- meetings.
:01:12. > :01:13.And we'll be getting the inside track on the traditional
:01:14. > :01:15.Indian skill of eyebrow threading and how one woman has
:01:16. > :01:17.used it to help create a multi-million-dollar business.
:01:18. > :01:21.Today we want to know do you ever use digital assistants?
:01:22. > :01:48.Do get in touch. Digital assistants, do you love it or hate it? Do they
:01:49. > :01:50.get on your nerves? Yes, we are using our favourite pun.
:01:51. > :01:53.Apple's core business is the iPhone, but as sales of its
:01:54. > :01:56.most widely used product begin to slide the company is having
:01:57. > :01:58.to search elsewhere for ways to drive its gargantuan
:01:59. > :02:08.Apple sold a massive 51.2 million iPhones during the first three
:02:09. > :02:10.months of the year but crucially that is 10 million
:02:11. > :02:20.for the first quarter dropping by a massive 13 percent with many
:02:21. > :02:25.blaming an over-reliance on a single product.
:02:26. > :02:40.Today Apple holds its developers' conference in Silicon Valley
:02:41. > :02:42.where it's expected to launch a major artificial
:02:43. > :02:44.intelligence update for the digital assistant Siri.
:02:45. > :02:47.The California firm is also expected to unveil changes to HomeKit
:02:48. > :02:49.which allows users to connect home features such as lighting
:02:50. > :02:52.But will it be enough to impress investors?
:02:53. > :02:55.The share price has certainly taken a hit since it peaked this time last
:02:56. > :02:59.year and those in the industry say some major innovations are needed
:03:00. > :03:01.if Apple wants to hold onto its title as the world's
:03:02. > :03:14.Alex Wood, editor in chief of The Memo, is with me.
:03:15. > :03:21.Good to see you. Sally taking us through the numbers involved. How
:03:22. > :03:25.would you describe Apple's performance of late? Where are they?
:03:26. > :03:36.Looking at smartphones alone, they dominate the market. But from my
:03:37. > :03:39.perspective, the outlook is mixed. In terms of innovation and new
:03:40. > :03:43.products, things have been lacklustre for the last couple of
:03:44. > :03:47.years. This conference is more about the software than the hardware,
:03:48. > :03:53.which is what we are used to when it comes to Apple. I want to ask you
:03:54. > :03:56.specifically about Siri. We are expecting announcements regarding a
:03:57. > :04:03.new and improved Siri but there are accusations that it has fallen
:04:04. > :04:05.behind the likes of Amazon, and Google. What can we expect from Siri
:04:06. > :04:14.today? Everybody has got Siri on the iPhone
:04:15. > :04:18.but most people are not using it and it has been very limited to date. If
:04:19. > :04:22.you look at companies like Amazon, it was a real surprise for them.
:04:23. > :04:26.They dipped their toe in a market with a product called Alexa, a
:04:27. > :04:28.speaker in their kitchen, and people have been blown away by what they
:04:29. > :04:32.can do with it. Amazon made it open from day one, which is a key
:04:33. > :04:51.difference in approach. So people are now building that
:04:52. > :04:53.technology into other products around the home, other speakers. But
:04:54. > :04:56.for Apple everything is closed inside their world and for that
:04:57. > :04:58.reason they have fallen behind. Tell me about the changes to home kit,
:04:59. > :04:59.which links up digital devices within the home? That could be very
:05:00. > :05:02.interesting. If you have heard about devices like
:05:03. > :05:03.smart home, internet connected thermostat for the heating, all of
:05:04. > :05:08.these things are very fragmented. If you have them in your home, like
:05:09. > :05:11.me, I kid you not I have six apps for my home! One for your light
:05:12. > :05:15.bulbs, one for home security and it is completely nuts. If Apple can
:05:16. > :05:19.pull this off, the idea is that it brings it all together into one
:05:20. > :05:21.remote control to make things more simple.
:05:22. > :05:29.if this is innovation for innovation's sake but in your house
:05:30. > :05:32.it is clearly necessary! Thank you. The mind boggles. Now some other
:05:33. > :05:37.business stories. Retailer Walmart Canada will no
:05:38. > :05:39.longer accept Visa cards after it failed to agree a deal
:05:40. > :05:42.with the credit card firm. Fees applied to Visa card purchases
:05:43. > :05:44.remain unacceptably high, Walmart it is offering the company one
:05:45. > :05:51.of the lowest rates available The chief executive and chairman
:05:52. > :06:00.of telecoms giant BT are sending a joint letter to their staff along
:06:01. > :06:02.with union leaders that say they want the UK
:06:03. > :06:05.to stay in a reformed EU. Responding to the letter
:06:06. > :06:08.the Vote Leave campaign say that if the UK really wants to take back
:06:09. > :06:11.control of its economy, its democracy and its borders then
:06:12. > :06:14.the British people have to vote to We are talking about that referendum
:06:15. > :06:26.which is coming up on June 23. The founder of UK sports retailer
:06:27. > :06:29.Sports Direct, Mike Ashley, has written to the administrators
:06:30. > :06:31.of the British department store chain BHS expressing an interest
:06:32. > :06:37.in taking over some of its stores. In his letter, Mr Ashley said
:06:38. > :06:40.he was keen to save the BHS brand as well as a number of jobs
:06:41. > :06:43.with the retailer. The company is being wound down
:06:44. > :06:58.after administrators failed to find We just want to take you across some
:06:59. > :07:04.of the stories that have piqued our interest on the BBC's Business Live
:07:05. > :07:10.page. Coming up soon this summer, a big thing for Brits, music
:07:11. > :07:26.festivals. Alice is a music festival lover. It is true. No Glam --
:07:27. > :07:31.glamping. And I am not alone! I am hard-core. Festivals are worth ?3.7
:07:32. > :07:34.billion to the UK economy, according to a report into UK music. The
:07:35. > :07:39.appetite for this appears to be growing and growing, just when we
:07:40. > :07:48.think the industry is saturated and there couldn't be another festival,
:07:49. > :07:49.and there were 10.4 million music tourists supporting thousands of
:07:50. > :07:57.jobs. The German Chancellor Angela Merkel
:07:58. > :08:00.has arrived in China for her ninth visit to the country with trade
:08:01. > :08:12.and investment high on the agenda. Good to talk to you. As Sally said,
:08:13. > :08:18.trade and investment are high on the agenda. Talk through what is on the
:08:19. > :08:20.table. The ninth visit by Angela Merkel to China since becoming
:08:21. > :08:26.Chancellor and other world leaders would be envious of the access that
:08:27. > :08:30.the German leader has to Beijing. She doesn't mind raising sensitive
:08:31. > :08:34.issues when she is here. For example, at these photo
:08:35. > :08:38.opportunities, when reporters are allowed in for the first minute to
:08:39. > :08:41.film leaders shaking hands, she has already spoken about the need for
:08:42. > :08:46.greater certainty in terms of the rule of law in China. We are
:08:47. > :08:49.expecting steel to be brought up because China is accused of dumping
:08:50. > :08:55.steel at below market rates into other economies. What sort of
:08:56. > :09:00.leverage might Angela Merkel have? At the moment a Chinese company is
:09:01. > :09:05.wanting to buy a German high-tech industrial robotics company. In
:09:06. > :09:10.theory she could say to their Chinese counterparts, look, if you
:09:11. > :09:13.want to buy Germany's high-tech companies, we need some action on
:09:14. > :09:17.steel and we need you to do something about the rule of law and
:09:18. > :09:23.we need a more level playing field in terms of trade. You mentioned
:09:24. > :09:27.this issue of steel. Angela Merkel has got to walk a fine line because
:09:28. > :09:32.as you say many would regard her as enjoying something of a special
:09:33. > :09:36.relationship with China, as shown by the number of visits that she has
:09:37. > :09:44.taken to the country. It is a delicate balancing act that she has
:09:45. > :09:48.got to step in this area. It certainly is. But the funny thing is
:09:49. > :09:53.that she has this, as you mention, pretty good access to Chinese
:09:54. > :09:58.leaders, and yet among all the world leaders in the west, she does seem
:09:59. > :10:03.to stand head and shoulders above others in terms of being prepared to
:10:04. > :10:07.talk about the tough issues. She will not mind saying that she thinks
:10:08. > :10:10.there is a problem with steel. The Chinese government knows that it has
:10:11. > :10:14.got this problem as well, so there is room to move on it. It is not
:10:15. > :10:18.that they are not aware of an overcapacity problem. I am sure she
:10:19. > :10:27.will be very delicate and yet firm in what she says about it. Thank
:10:28. > :10:30.you. We will keep an eye on that as the week progresses, Angela Merkel's
:10:31. > :10:38.trip to China. Let's look at the markets. What they start a week for
:10:39. > :10:46.Japan, down nearly 4% and Hong Kong nearly 3% lower. This is because of
:10:47. > :10:51.a heck offer nerves out there. We have the Japan meeting and the
:10:52. > :10:55.Federal bank meeting. Japan is not expecting any stimulus from the Bank
:10:56. > :11:02.of Japan, so that is why stimulus is low. And the Chinese economy is
:11:03. > :11:07.pretty flat as well. In the UK, the pound is weak against the US dollar.
:11:08. > :11:10.We will move on to Europe in a moment if we can show viewers those
:11:11. > :11:20.numbers. The pound is lower than the dollar because of the UK referendum
:11:21. > :11:24.on membership of the European Union. That is hitting many markets around
:11:25. > :11:28.the world but certainly London and the pound. The yen has been strong.
:11:29. > :11:32.Safe havens like the Japanese yen very much in favour the moment. I
:11:33. > :11:34.will hand you back to Alice who has someone here to tell us why there is
:11:35. > :11:37.so much fear. Joining us is Jeremy Cook,
:11:38. > :11:45.Chief Economist, World First. Pretty bleak picture. What do you
:11:46. > :11:50.make of that? The stronger yen, tell us what is happening in Asia. It is
:11:51. > :11:54.a miserable Monday wherever you look and we have seen it in the past week
:11:55. > :11:58.that bond markets have been pretty active investors moving out of
:11:59. > :12:02.riskier assets like shares and riskier currencies moving back into
:12:03. > :12:07.bonds because of three main fears. The global slow down, the news out
:12:08. > :12:10.of Asia, Europe, Chinese investment news overnight pretty poor,
:12:11. > :12:16.everybody talking about the EU referendum whether you are in the UK
:12:17. > :12:21.or around the world, and also the likelihood that the Fed will not
:12:22. > :12:30.freeze rates at their meeting on Thursday. -- will not raise rates.
:12:31. > :12:35.The Fed issue is the main one. They raised rates in December. They jobs
:12:36. > :12:38.figure came out ten days ago thinking that June could be the time
:12:39. > :12:44.we could see another rate rise from the Federal Reserve. That number is
:12:45. > :12:54.out of the US jobs market. 30 one fifth of what the market has got
:12:55. > :13:01.used to. -- 38,000. Do you think this ruling is here to stay until
:13:02. > :13:07.June 23? Once the Fed meeting is out of the way and the Bank of Japan. We
:13:08. > :13:11.are not expecting anything. That is right. The banks want more stimulus
:13:12. > :13:16.but they are not going to get it. Certainly not from the Fed but maybe
:13:17. > :13:20.from the Japanese next month. Is the feeling here to stay? Referendum is
:13:21. > :13:24.a huge sentimental hurdle to jump over in the short-term but then the
:13:25. > :13:29.focus shifts. Markets get myopic about this. We have the referendum
:13:30. > :13:32.in June but then we will be talking about the migrant crisis in Europe
:13:33. > :13:38.and then the US presidential election, so this is half-time. Only
:13:39. > :13:44.half-time! Are you exhausted? You are going to take through the papers
:13:45. > :13:47.in a moment, Jeremy good stuff. Next, we will be looking at a
:13:48. > :13:51.business that has raised more than a few eyebrows. Goodness me! We will
:13:52. > :13:55.be joined by the founder of a company that has come up with a
:13:56. > :14:00.technique that has been around for many years but which has become new
:14:01. > :14:05.to many of us and very popular. Eyebrow threading. We will explain
:14:06. > :14:12.all. You are with Business Live from BBC News. Stay with us.
:14:13. > :14:14.Time to dust off your top hat and fascinator.
:14:15. > :14:17.Ascot is one of the few UK racecourses not owned
:14:18. > :14:21.Today Ascot releases its latest financial results, and we are joined
:14:22. > :14:34.Wonderful to talk to you. Talk us through the numbers. Good morning.
:14:35. > :14:39.We are very pleased to announce a solid set of results for 2015. Our
:14:40. > :14:45.numbers are up across the board and turnover is up 10%. Net profits
:14:46. > :14:54.before tax are up 42% and most importantly our edict arts cash
:14:55. > :14:58.generation is up over 10%. -- EBITDA. That is what allows us to
:14:59. > :15:04.invest in facilities and prize money for most men aren't the event as a
:15:05. > :15:08.whole. Part of that is because you diversify it and it is not just
:15:09. > :15:10.about the horse racing. The biggest event of the year starts for you
:15:11. > :15:16.tomorrow and the Queen will be there.
:15:17. > :15:25.It means a lot to us that the Queen and her family enjoy Royal Ascot.
:15:26. > :15:30.And her horses have won 22 races at Royal Ascot. This week, she could
:15:31. > :15:35.have up to six runners, the most high-profile of which is Dartmouth
:15:36. > :15:39.we wish him all the best in the Hardwick Stakes. Later on in the
:15:40. > :15:41.week we have the prospect of runners for The Prince of Wales and the
:15:42. > :15:50.Duchess of Cornwall and on Thursday, the Gold Cup, is run in honour of
:15:51. > :15:53.the Queen's birthday, 90th birthday for which the official celebrations
:15:54. > :16:01.started yesterday and we hope she will have a lovely time at Ascot
:16:02. > :16:07.with her family and with her guests. A very colourful event. Lots of us
:16:08. > :16:14.tuning in. Ascot kicks off tomorrow. It does, indeed.
:16:15. > :16:18.Gatwick Gusher, oil firms buy up more land apparently. You can read
:16:19. > :16:23.more about this on the Business Live page, but the firm are planning to
:16:24. > :16:27.extract from the Gatwick area. That's the UK oil and gas
:16:28. > :16:33.investments, that's the name, they are spending ?3.5 million to acquire
:16:34. > :16:36.Horse Hill Well in Surrey. Clearly, they believe there is a lot to be
:16:37. > :16:41.found there. They are investing in earnest.
:16:42. > :16:52.As Apple holds a developers summit in Silicon Valley it is expected
:16:53. > :16:55.to launch a major update to its digital assistant Siri,
:16:56. > :17:02.but will it be enough to stop sliding iPhone sales?
:17:03. > :17:07.When she can make me a cup of tea and watch my children, that's when I
:17:08. > :17:09.would be interested! Now let's get the Inside Track
:17:10. > :17:11.with a entrepreneur who hopes to change the face
:17:12. > :17:14.of the beauty industry. When Vanita Parti left her full-time
:17:15. > :17:17.job to spend time with her young family, it might have seemed that
:17:18. > :17:20.setting up a global business Fast forward 12 years and she's
:17:21. > :17:32.brought traditional Indian eyebrow Her business, Blink Brow Bar has
:17:33. > :17:39.over 25 walk-in bars in the UK and another opening in the famous
:17:40. > :17:42.Saks department store in New York. The brand also has an award winning
:17:43. > :17:47.line up of beauty products including brow kits,
:17:48. > :17:50.colouring products and skincare. Vanita Parti the founder
:17:51. > :18:05.and chief executive Your eyebrows look wonderful! Thank
:18:06. > :18:09.you. Just talk us through why you decided to make this leap. You were
:18:10. > :18:14.working in marketing, in branding and then to go and set-up a business
:18:15. > :18:19.from scratch. What made you want to do it? Well, think children change
:18:20. > :18:22.everything. You hope you're going to have a child and go back to work and
:18:23. > :18:26.your career will continue and flourish and of course, I had my
:18:27. > :18:32.child, dpel in love with her and wanted to go back on a part-time
:18:33. > :18:37.basis, but realised you can't climb up the career ladder on a part-time
:18:38. > :18:42.basis sadly. I took the leap. I left. I worked for a small start-up
:18:43. > :18:48.and realised why don't I just set-up my own business? And really that
:18:49. > :18:52.would be the only way where I could fulfil my ambitions and be able to
:18:53. > :19:00.work to the hours I want to. You may hate this, but there is a term for
:19:01. > :19:04.people like you, called the mumpreners, have you heard of it? I
:19:05. > :19:10.have. Explain the idea for your company? Sorry, the idea. You
:19:11. > :19:14.started a business, I'm going to be a mum and be fulfilled in my career,
:19:15. > :19:18.why eyebrows? It was actually the business that was the important part
:19:19. > :19:27.and then I was really trying to search for an idea and I first of
:19:28. > :19:31.all I thought I would set-up a dating website called Bombay Mix and
:19:32. > :19:35.realised I didn't have the technological know how. It came to
:19:36. > :19:40.me one day when I travelled far to get my eyebrows threaded out to the
:19:41. > :19:44.suburbs and I just thought god, I make this journey every two weeks, I
:19:45. > :19:49.can't get my eyebrows threaded in London. I thought Londoners really
:19:50. > :19:56.neglect their eyebrows and that needs to be sorted out! When we
:19:57. > :20:03.found out you were coming, we were grooming! Mine is better now. It is
:20:04. > :20:11.the first walk-in brow bar in the UK and how has the industry changed. My
:20:12. > :20:15.mother used to pluck her eyebrows, they used to be thin, I feel that
:20:16. > :20:21.we're back in the Brooke Shields era where we want strong power brows? I
:20:22. > :20:24.think people have just become aware and they realised that eyebrows are
:20:25. > :20:27.so important and make such a difference and ten years ago, it was
:20:28. > :20:32.amazing. People just didn't take care of them. They were an after
:20:33. > :20:35.thought and now they are the foundation of anyone's beauty
:20:36. > :20:39.regime. Do you get men? We get lots of men. It is a growing market and
:20:40. > :20:43.they are not shy. Tell us about how you manage it had do this. The
:20:44. > :20:47.company is big now. You're pretty major in the UK, you're looking
:20:48. > :20:50.elsewhere like New York for example, did you find that you just had the
:20:51. > :20:54.business skills you needed or did you find actually you needed a lot
:20:55. > :20:58.of help from experts. How did you do it? Well, sadly you don't have the
:20:59. > :21:02.business skills, you try and use a lot of common sense. The key was
:21:03. > :21:05.trying to build a brand and that's a skill I got from being at British
:21:06. > :21:11.Airways for many years. And you know, it is just about building a
:21:12. > :21:14.really trusted brand, offering a consistent service, so yeah, we
:21:15. > :21:18.really worked on that and just working with mentors, people that
:21:19. > :21:22.could help me and just, you know, trying to get skills in where I
:21:23. > :21:25.recognised I needed them. Just really briefly because we are sort
:21:26. > :21:29.of out of time. I want one more question. Are you managing to spend
:21:30. > :21:32.the time with your children that you hoped for by not working for a
:21:33. > :21:37.corporate? It is brilliant. Now, it is really working well. You got the
:21:38. > :21:44.balance right? Yes. Well done. Thank you for coming in.
:21:45. > :21:47.The gaming industry has descended on Los Angeles for E3,
:21:48. > :21:49.the biggest video games show in the world.
:21:50. > :21:52.It is a chance for the big names to show off their latest
:21:53. > :21:56.Our BBC North America technology reporter Dave Lee gave us this
:21:57. > :22:12.It's that time of year again when the games industry
:22:13. > :22:17.descend in their thousands to Los Angeles for E3.
:22:18. > :22:20.For gaming fans, it is a first chance to look at the
:22:21. > :22:22.titles that could be the blockbuster hits over
:22:23. > :22:31.What have you seen at E3 caught your eye?
:22:32. > :22:32.Titanfall 2. The mesmerising.
:22:33. > :22:34.The sequel they have introduced, the single player campaign,
:22:35. > :22:37.Mass Effect was really impressive and I'm really looking forward
:22:38. > :22:40.to just how different it will be this time around.
:22:41. > :22:44.We don't know everything yet, I'm just looking forward to more
:22:45. > :22:49.VOICEOVER: Worlds where adventure, danger and the unknown
:22:50. > :23:01.Dave Lee was there and he will continue to update us on Twitter.
:23:02. > :23:04.And online. What other business
:23:05. > :23:06.stories has the media been Joining us is Jeremy Cook,
:23:07. > :23:19.Chief Economist, World Do you use media? I use OK Google on
:23:20. > :23:23.my phone. You are an android user? I look strange doing it in public or
:23:24. > :23:28.the only reason I use it when I can't spell something. Do you have
:23:29. > :23:33.to say Google? You say OK Google and it goes blink and then you can ask
:23:34. > :23:40.your directions or whatever. You think is someone talking to their
:23:41. > :23:51.phone or themselves? Apple is beefing it up its developer
:23:52. > :23:57.conference. Ryan Olsen, "Siri is a nuisance." ." Another view says,
:23:58. > :24:08."When I am in a hurry, it has value." Another viewer says, "Siri
:24:09. > :24:12.performs so poorly. Apple has been resting on its laurels." I want to
:24:13. > :24:16.talk to you about this story we spotted in The Telegraph on the
:24:17. > :24:20.business pages. Sky really feeling the pinch with regards to the amount
:24:21. > :24:26.that it spends for its premiership football rights? Yeah, ?1.4 billion.
:24:27. > :24:32.Now, that is a lot of money to spend on a football game and you can see
:24:33. > :24:36.from, you know, if anyone goes to their club, you can see ticket
:24:37. > :24:39.prices increasing and the wages are increasing and the transfer money is
:24:40. > :24:43.increasing so where is the money coming from? A lot is coming from
:24:44. > :24:46.the football rights and that's hitting people in the pocket when
:24:47. > :24:51.they are paying their Sky bill or the Virgin bill at the end of the
:24:52. > :24:55.month. It is timely with Euro 2016 under way and I was just asking you
:24:56. > :24:59.Jeremy about what's going on in the City of London during that time?
:25:00. > :25:04.Yes. You're all watching the football. I wouldn't be surprised if
:25:05. > :25:09.a lot of people have their iPads on their desks and you know, they're
:25:10. > :25:14.busy. You said it was a given when we were off air? True. They are
:25:15. > :25:20.keeping an eye on things. Who is your money on? I have got two sweep
:25:21. > :25:25.stake entries, England which have taken a hit and I pulled out France,
:25:26. > :25:30.but I still Germany wins. You never bet against the Germans. Jeremy,
:25:31. > :25:33.thank you for coming in. Thank you for your companiment have a great
:25:34. > :25:34.day. We will see you soon. Have a great day. Thanks for
:25:35. > :25:42.watching.