Browse content similar to 22/06/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Ben Thompson | :00:00. | :00:00. | |
It's less than 24 hours until the UK votes | :00:07. | :00:10. | |
We'll assess the last minute campaigning and what markets make | :00:11. | :00:18. | |
Live from London, that's our top story | :00:19. | :00:21. | |
By this time tomorrow the first votes will have been cast | :00:22. | :00:42. | |
Both sides have been using the last day of campaigning | :00:43. | :00:46. | |
Pollution from millions of diesel cars increases when air temperatures | :00:47. | :00:58. | |
fall too low. In this is how markets look across | :00:59. | :01:03. | |
Europe ahead of the crucial vote on the UK's membership of the EU. | :01:04. | :01:12. | |
And is poor eyesight an economic problem? | :01:13. | :01:14. | |
We'll meet the man who says millions of people still lack access to basic | :01:15. | :01:17. | |
care to cure poor vision and it's costing the world | :01:18. | :01:20. | |
And - I quit - new figures show staff turnover | :01:21. | :01:27. | |
mean more of us are prepared to ditch our job on the spot | :01:28. | :01:32. | |
So we want to know, is a job for life a thing of the past? | :01:33. | :01:36. | |
Let us know, use the hashtag BBC Biz Live. | :01:37. | :01:39. | |
The UK's big vote on its future in Europe begins in less than 24 hours. | :01:40. | :01:54. | |
So that means less than 24 hours of last minute | :01:55. | :01:56. | |
Today, more than 1,000 business leaders have written to the UK's | :01:57. | :02:08. | |
Times newspaper to warn that leaving the EU would harm | :02:09. | :02:10. | |
Those who've signed include bosses of 51 FTSE 100 companies | :02:11. | :02:14. | |
and hundreds of smaller businesses which between them, employ | :02:15. | :02:21. | |
On the other side of the debate, the billionaire entrepreneur | :02:22. | :02:25. | |
and inventor Sir James Dyson has written a piece describing a Remain | :02:26. | :02:28. | |
victory as "an act of national self-harm." | :02:29. | :02:30. | |
He says the vote offers "the last opportunity to regain | :02:31. | :02:32. | |
Well, letters from bosses to their employees have also | :02:33. | :02:39. | |
The latest, a senior vice President at Tate and Lyle Sugar, | :02:40. | :02:44. | |
explaining to staff that, in his view, the EU has pushed | :02:45. | :02:47. | |
Gerald Mason has not advised the 800 staff how to vote, but did say jobs | :02:48. | :02:54. | |
And German newspaper Handelsblatt has published an interview | :02:55. | :03:01. | |
with the EU's Financial Services commissioner who says that Banks | :03:02. | :03:06. | |
could be forced to relocate jobs from London to Frankfurt or Paris | :03:07. | :03:09. | |
It's worth pointing out though that the commissioner - | :03:10. | :03:12. | |
Jonathan Hill - is a Brit and he was appointed | :03:13. | :03:16. | |
to the European Commission by Prime Minister David Cameron, | :03:17. | :03:18. | |
who wants the UK to remain in the EU. | :03:19. | :03:21. | |
With me now is our business editor Simon Jack. | :03:22. | :03:26. | |
Simon as we get closer to decision day, you really get a sense that | :03:27. | :03:31. | |
business leaders are feeling they need to do all they can to influence | :03:32. | :03:33. | |
those who work for them? Yes, this those who work for them? Yes, this | :03:34. | :03:38. | |
is the biggest display of force yet by the Remain business camp. It is a | :03:39. | :03:42. | |
better of 51 of the top FTSE 100 companies. There is hundreds of | :03:43. | :03:45. | |
smaller companies. I think that, you know, in the headlines as well, we | :03:46. | :03:50. | |
have got James Dyson and Tate Lyle, but it is wrong to suggest on | :03:51. | :03:53. | |
the one hand that we have got this and on the other hand we've got | :03:54. | :04:01. | |
that. I mean for every Dyson, we have people from Astra accident Ca-a | :04:02. | :04:08. | |
Yo! Sushi. Among larger employers they are overwhelmingly in favour of | :04:09. | :04:12. | |
remain. You could ask how effective they are as cheer lead tors get the | :04:13. | :04:16. | |
vote out? Businesses can't vote. They don't have a voice. In the | :04:17. | :04:21. | |
Scottish referendum big business came late to that party and come | :04:22. | :04:25. | |
people credited them with turning that vote around. Big business is | :04:26. | :04:30. | |
overwhelmingly in. Remain's lead is narrower. That could be to do with | :04:31. | :04:34. | |
the greater importance that big business place on the single market | :04:35. | :04:38. | |
which even Vote Leave admit we would have to leave. Has the voice of the | :04:39. | :04:43. | |
smaller businessman, woman, entrepreneur, sole trader been | :04:44. | :04:47. | |
drowned out by the big business leaders? It is an important point | :04:48. | :04:50. | |
because small businesses employ more people. 50% of the entire UK | :04:51. | :04:54. | |
workforce is employed by smaller businesses. There is an | :04:55. | :04:56. | |
inevitability, there are household names on this, you know, your | :04:57. | :05:05. | |
Vodafones, your Whitbreads and AstraZeneca and those are big names, | :05:06. | :05:10. | |
you won't have the same appeal if you're running a plumbing business, | :05:11. | :05:13. | |
there is a danger of that, I suppose. And like I say, the | :05:14. | :05:19. | |
Remain's lead amongst smaller business is much more evenly split. | :05:20. | :05:26. | |
But within the big business community definitely the bias is on | :05:27. | :05:32. | |
Remain. Have there been any surprises. Even will vote on their | :05:33. | :05:36. | |
personal circumstances. If you have trade with Europe, if you rely on t | :05:37. | :05:40. | |
you probably want to stay in. If you're not fussed, you probably want | :05:41. | :05:44. | |
to state out and that's the debate? There are a couple of people who | :05:45. | :05:47. | |
signed the letter. There was an earlier letter in February at the | :05:48. | :05:51. | |
beginning of the campaign, then they had 36 FTSE 100 bosses and 200 | :05:52. | :05:55. | |
smaller businesses. This is lots more people have joined. For | :05:56. | :05:59. | |
example, the boss of, the Chairman of Barclay's didn't sign the last | :06:00. | :06:03. | |
letter, he signed this letter. As to your other point in the headlines | :06:04. | :06:07. | |
there, there is fear amongst the banks that at the moment if you are | :06:08. | :06:11. | |
in the EU and you are a bank, you can sell financial services anywhere | :06:12. | :06:15. | |
in world. Switzerland have got to put lots of people inside the EU and | :06:16. | :06:20. | |
that's why you see big groups of employees from places like UBS and | :06:21. | :06:26. | |
credit Suisse in London, people fear they might lose that. The FTSE 100 | :06:27. | :06:31. | |
is not a British index, it is extremely international. Therefore, | :06:32. | :06:35. | |
half the views on there represent many, many countries? Only 51 signed | :06:36. | :06:40. | |
it. It is difficult to get Chief Executives or chairmen to sign it. | :06:41. | :06:43. | |
They have got to clear it with their board. The FTSE 100 is stuffed full | :06:44. | :06:49. | |
of mining companies who wouldn't feel appropriate to get involved in | :06:50. | :06:53. | |
this. It is not a UK Plc index, but they employ a lot of people here in | :06:54. | :06:57. | |
the UK. Simon, thank you. We will let gu. A busy day ahead for Simon | :06:58. | :07:02. | |
and for the rest of us for that matter. | :07:03. | :07:03. | |
New research seen by the BBC suggests pollution from many popular | :07:04. | :07:07. | |
diesel cars is much worse when air temperatures drop below 18 Celsius. | :07:08. | :07:10. | |
It's thought pollution control software, fitted | :07:11. | :07:14. | |
in millions of vehicles, is turned off for most | :07:15. | :07:17. | |
of the year in the UK, because of the cool weather here. | :07:18. | :07:21. | |
The UK's Society of Motor Manufacturers and Traders says no | :07:22. | :07:23. | |
The US electric car-maker, Tesla, has made an offer to buy solar | :07:24. | :07:34. | |
The deal is thought to be worth $2.8 billion. | :07:35. | :07:37. | |
Tesla boss Elon Musk, is already the chairman | :07:38. | :07:43. | |
of Solar City and the largest shareholder in both companies. | :07:44. | :07:46. | |
He's described the deal as a "no brainer", creating a company that | :07:47. | :07:48. | |
would sell customers an electric car, a home battery and a solar | :07:49. | :07:51. | |
US plane-maker, Boeing, has reached a deal to sell | :07:52. | :07:56. | |
At list price, that's to say, without any discounts, | :07:57. | :08:01. | |
The agreement marks an important step in economic relations | :08:02. | :08:09. | |
between US and Iran after economic sanctions | :08:10. | :08:11. | |
If the deal is approved, it will be the largest business | :08:12. | :08:14. | |
transaction between a US firm and Iran since the 1979 revolution. | :08:15. | :08:27. | |
There is more on the Business Live page. It is dominated by the UK | :08:28. | :08:33. | |
referendum today. For good reason and many, many bosses have been | :08:34. | :08:37. | |
talking to the BBC including the Prime Minister, David Cameron, and | :08:38. | :08:41. | |
also, of course, Boris Johnson, who is leading the Leave campaign. So | :08:42. | :08:44. | |
you can get all their views and what they have been saying today on the | :08:45. | :08:52. | |
Business Live page. This is Tim Martin the Chairman of | :08:53. | :08:54. | |
Wetherspoon's. We spoke to him yesterday. He has been talking to | :08:55. | :08:58. | |
Fif Live and sterling is keeping hold of those gains it made earlier | :08:59. | :09:02. | |
this week. At the end of last week we saw falls. Down 2%. But then on | :09:03. | :09:07. | |
Monday, managing to win back some of those falls and ending up 1.5%. All | :09:08. | :09:12. | |
of that, could have, related to some uncertainty ahead of the EU | :09:13. | :09:16. | |
referendum, but lots concerns about a slowdown in China. Can I mention | :09:17. | :09:22. | |
Hornby? It is having a tough time. Difficult disappointing, extremely | :09:23. | :09:24. | |
challenging here for the model rail company. It has come out with its | :09:25. | :09:29. | |
latest numbers. So now you know! Business Live, it is all there. | :09:30. | :09:33. | |
Everything you need! A rare break from the referendum! | :09:34. | :09:41. | |
Let's talk about expensive city. There is a new poll. | :09:42. | :09:45. | |
Well, believe it or not, it used to be Luanda, | :09:46. | :09:47. | |
But, in the latest global survey, another city has emerged | :09:48. | :09:50. | |
Mariko Oi has the details for us, she's in Singapore. | :09:51. | :09:58. | |
Tell us more about the annual survey? Indeed, Sally. It wasn't | :09:59. | :10:07. | |
London. It wasn't New York. It was actually Hong Kong which was ranked | :10:08. | :10:11. | |
as the most expensive city for ex-pats. You can spend $8, $8 US | :10:12. | :10:18. | |
dollars for a cup of coffee, but living here in Singapore that | :10:19. | :10:23. | |
doesn't sound too outrageous, Singapore is expensive as well. | :10:24. | :10:28. | |
Coming in fourth and also Tokyo and Beijing, both ranked in the top ten | :10:29. | :10:33. | |
as well. London, in fact, has dropped to 17th. This is all | :10:34. | :10:40. | |
according to the survey done by Human Resources consultancy company, | :10:41. | :10:44. | |
Mercer, but there is another survey that comes out and that's done by | :10:45. | :10:49. | |
the Economist Intelligence Unit and that ranks the most expensive city | :10:50. | :10:54. | |
in general, not just for ex-pats, for that ranking Singapore comes at | :10:55. | :10:59. | |
the top ahead of London, or New York as an ex-pat living in Singapore, I | :11:00. | :11:04. | |
find the rankings rather depressing every time they come out. Good | :11:05. | :11:08. | |
stuff. Rather expensive place to live, but a nice place to live, I | :11:09. | :11:12. | |
think, it is fair to say. So paying the price there. | :11:13. | :11:18. | |
A look at the numbers for you. That's what happened in Asia. I want | :11:19. | :11:21. | |
to pick up on what happened in the US because yesterday more news from | :11:22. | :11:25. | |
Janet Yellen the chair of the US Federal Reserve talking about | :11:26. | :11:28. | |
considerable uncertainty in the economy. There is a surprise! She | :11:29. | :11:32. | |
pinned that clearly on the UK referendum, but warning that the | :11:33. | :11:36. | |
Senate Committee that interest interests in the world's largest | :11:37. | :11:40. | |
economy are in no rush to rise. I'm not sure if I can show you the board | :11:41. | :11:45. | |
for Europe. But it is an important day ahead of the EU referendum that | :11:46. | :11:48. | |
gets under way tomorrow. We will look at the numbers in a moment. But | :11:49. | :11:51. | |
that's the state of play overnight in Asia and we will have a look at | :11:52. | :11:57. | |
European numbers with Sally. Thank you, Ben. The FTSE 100 up | :11:58. | :12:05. | |
slightly. I've got Brenda Kelly with me. | :12:06. | :12:09. | |
It is interesting to see how Europe held on to the gains since the start | :12:10. | :12:16. | |
of this trading week when we saw great volatility last week? It is | :12:17. | :12:21. | |
certainly is. It does come to pass that a lot of polls have been very | :12:22. | :12:26. | |
close, but confusing as well. Why are the markets assuming they will | :12:27. | :12:29. | |
get the result that will be the result that they feel is the right | :12:30. | :12:33. | |
one ie, remain? Why are they begt on that? Why is the pound going up? | :12:34. | :12:37. | |
Markets exude a certain amount of hope and that's an element of it, | :12:38. | :12:42. | |
but I think an element of with the tail wagging the dog at the moment, | :12:43. | :12:46. | |
the markets are looking at what the betting markets and the betting | :12:47. | :12:49. | |
markets are looking at what the financial markets are doing and they | :12:50. | :12:52. | |
are in a vicious circle and there is no real clarity as to how the result | :12:53. | :12:56. | |
could go and we could see some up side and down side volatility. | :12:57. | :13:01. | |
Quickly, it is very, there is hardly any liquidity there at the moment | :13:02. | :13:04. | |
which makes everything more exaggerated? Exactly. When you get | :13:05. | :13:08. | |
low volume in terms of the trade, it will exaggerate the move BT the up | :13:09. | :13:12. | |
side and the down side. The pound is elevated against the US dollar and | :13:13. | :13:15. | |
against the euro, but there is still a certain amount of down side risk | :13:16. | :13:19. | |
there. Brenda, briefly, we were discussing this, I was down outside | :13:20. | :13:25. | |
the Bank of England on Monday talking about what the investors and | :13:26. | :13:28. | |
the City was thinking and one of my guests made the point, this is | :13:29. | :13:33. | |
computers doing the trading, it is not people, it is not real emotion? | :13:34. | :13:41. | |
A certain aspect is algor rism. There will be still people watching | :13:42. | :13:47. | |
it and putting those trades on and taking care of their risks. Still | :13:48. | :13:49. | |
real people involved, good to know! Still to come, we meet the man | :13:50. | :13:52. | |
trying to help the world to see. Poor eyesight is a hidden disability | :13:53. | :13:55. | |
and one that costs the world James Chen's foundation | :13:56. | :13:58. | |
is looking for the answer. You're with Business | :13:59. | :14:01. | |
Live from BBC News. Let's talk some more about the rise | :14:02. | :14:17. | |
and fall of sterling. Currency markets changing their mind with | :14:18. | :14:20. | |
every small shift in the EU referendum polls. Andrew Walker is | :14:21. | :14:27. | |
in our business unit. He has the figures to hand. How is it going? | :14:28. | :14:34. | |
Here we have sterling against the dollar over the last three days. A | :14:35. | :14:40. | |
cumulative rise of 2.3%. We have seen currency traders taking the | :14:41. | :14:44. | |
view that the probability of a remain vote increase with where we | :14:45. | :14:50. | |
were a week or so ago. There has been an element of what is called a | :14:51. | :14:56. | |
short-covering rally, that is to say, traders who have sold sterling | :14:57. | :15:01. | |
in the market which they borrowed in anticipation of a possible fall, | :15:02. | :15:05. | |
have been looking at this rise and thinking, Nabi we need to buy the | :15:06. | :15:11. | |
sterling back -- maybe we need to buy the sterling back. That process | :15:12. | :15:16. | |
has kind of run out of steam. This is yesterday. That process probably | :15:17. | :15:23. | |
came more or less to an end. We have also seen investors take the view | :15:24. | :15:27. | |
that although they do think a Remain vote is the most likely outcome, | :15:28. | :15:31. | |
which they see as essentially positive for the value of the | :15:32. | :15:35. | |
currency, it is still pretty much neck and neck. The short answer is | :15:36. | :15:40. | |
they do not know the answer of what the result will be any more than we | :15:41. | :15:44. | |
do. There is money to be made everywhere. It is being made by | :15:45. | :15:48. | |
those people providing currency transactions. It is a good time to | :15:49. | :15:53. | |
be one of them? Indeed. It seems a lot of tourists are becoming | :15:54. | :15:59. | |
currency speculators in a small way. The tourist office said yesterday it | :16:00. | :16:03. | |
had an enormous number of enquiries from people in the last couple of | :16:04. | :16:09. | |
days because they want to ensure they do not get caught out if we get | :16:10. | :16:12. | |
a Leave vote and sterling falls sharply. Thank you very much, Andrew | :16:13. | :16:20. | |
Walker, one of economic correspondence. It will be a busy | :16:21. | :16:27. | |
few days. As we try to digests what it means for business. Here is | :16:28. | :16:30. | |
another person who has been adding his voice to the campaign. It is | :16:31. | :16:37. | |
Michael O'Leary. He is in favour of remaining. The single market brings | :16:38. | :16:41. | |
enormous benefits, he says. Read more on the business life page. | :16:42. | :16:45. | |
-- Business Live. This morning more than 1200 bosses, | :16:46. | :17:03. | |
including directors from what than 50 FTSE companies, have signed the | :17:04. | :17:06. | |
letter backing the UK membership of the European Union. | :17:07. | :17:09. | |
Meanwhile, Tate Lyle Sugars, one of the UK's oldest firms, | :17:10. | :17:12. | |
has written a pro-Brexit letter to staff saying that leaving the EU | :17:13. | :17:15. | |
Also James Dyson adding his voice to the Leave campaign. | :17:16. | :17:23. | |
Let's get the inside track now on a Hong Kong philanthropist | :17:24. | :17:25. | |
and entrepreneur who believes he has a clear vision for the future - | :17:26. | :17:28. | |
James Chen, is chair of a third generation family run | :17:29. | :17:34. | |
Chinese manufacturing company the Wahum Group. | :17:35. | :17:38. | |
Not satisfied with just running a big company, | :17:39. | :17:40. | |
he has now set his sights on the problem of low | :17:41. | :17:43. | |
It aims to get the 2.65 billion people in the world who have poor | :17:44. | :17:49. | |
vision, seeing clearly within the next 30 years. | :17:50. | :17:52. | |
As well as the significant personal cost associated with bad eyesight, | :17:53. | :17:57. | |
it's estimated that it costs the global economy somewhere | :17:58. | :18:01. | |
in the region of $3 trillion each year in lost productivity. | :18:02. | :18:05. | |
Part of James Chen's solution is the Clearly Vision Prize, | :18:06. | :18:07. | |
which will award $250,000 in prize money to the best innovations | :18:08. | :18:12. | |
I can just about read that autocue. I am struggling a bit! Maybe you can | :18:13. | :18:29. | |
help me, James! Tell us more about this idea that you have had? It is a | :18:30. | :18:36. | |
huge problem and yet you have kind of grabbed it with both hands, you | :18:37. | :18:40. | |
are tackling it, and you are hoping you can solve it within 30 years? | :18:41. | :18:47. | |
Yes. We have had glasses for the last 700 years and yet today there | :18:48. | :18:52. | |
are still 2.5 billion people in the world with poor vision and no access | :18:53. | :19:00. | |
to vision correction. In Rwanda am I have helped to develop a programme | :19:01. | :19:04. | |
where we were able to provide citizens with vision correction when | :19:05. | :19:09. | |
they have a problem. About 80% of the 2.5, 2.65 billion, it is just | :19:10. | :19:19. | |
about glasses and screening. So now today, with technology like | :19:20. | :19:23. | |
smartphones, with drones, you can see how this could disrupt, why | :19:24. | :19:30. | |
people thought you could not solve this problem. We think we can do | :19:31. | :19:37. | |
that today. $3 trillion is the cost to the economy every year. Give us | :19:38. | :19:41. | |
some examples of how poor eyesight is holding people back. It sounds | :19:42. | :19:45. | |
obvious but there are very practical day-to-day things people cannot do? | :19:46. | :19:57. | |
Yes, we did a pilot in Ghana, people in an adult literacy programme. They | :19:58. | :20:00. | |
were rice farmers. They collected the rise, they beaded to get the | :20:01. | :20:07. | |
rice grains off. When they sweep it up, they get the gravel. The rice | :20:08. | :20:12. | |
they could sell was at a low price. But when they could see Clearly, | :20:13. | :20:16. | |
they could pick up the gravel and be able to sell the rice for a higher | :20:17. | :20:22. | |
price. That is a really good example of how, with vision, you can really | :20:23. | :20:28. | |
improve the economic benefit. To you it is a no-brainer. To us it is a | :20:29. | :20:32. | |
no-brainer. I would imagine for many viewers it is as well. But first | :20:33. | :20:36. | |
some communities who have never really had the money, the funding or | :20:37. | :20:40. | |
the access to services, it is something they live without. It is | :20:41. | :20:45. | |
not just about getting the money there, it is about cultural change, | :20:46. | :20:54. | |
getting government on board? Yes. With the Clearly campaign, what we | :20:55. | :21:00. | |
are trying to do, we have one very simple question. How can the whole | :21:01. | :21:04. | |
world see? With the campaign, what we are trying to do is uncover | :21:05. | :21:08. | |
answers to this question. We want to bring in people from the eye | :21:09. | :21:17. | |
community... There are lots of brilliant minds, people with great | :21:18. | :21:20. | |
ideas. They are not particularly applying it to the issue of vision, | :21:21. | :21:25. | |
but they can. Jeromes would be a good example. -- drones. You can | :21:26. | :21:33. | |
drop glasses. Right now, getting distribution into villages in the | :21:34. | :21:37. | |
developing world is a problem. Dare I say it is not an exciting problem | :21:38. | :21:41. | |
and when it comes to charitable cases, you want to pull on the | :21:42. | :21:45. | |
heartstrings, you want to get people involved. I would imagine among that | :21:46. | :21:48. | |
list of worthy causes and things that are competing for money, there | :21:49. | :21:54. | |
does not seem to be an end point. You cannot solve bad eyesight. It is | :21:55. | :21:59. | |
about helping people to see better. You cannot permanently make it | :22:00. | :22:03. | |
better. You cannot make the poor eyesight go away. How do you win | :22:04. | :22:07. | |
that support and that funding when it is an ongoing battle? I think | :22:08. | :22:12. | |
this is the first time in history, because of technology like | :22:13. | :22:17. | |
smartphones or drones, there are no apps you can use that can do | :22:18. | :22:23. | |
screening and diagnosis. That to me is a really exciting development. | :22:24. | :22:32. | |
For example, you have seen Elon mass who has the ambition to send people | :22:33. | :22:35. | |
to Mars within the next 20 years. What we want to do is to be able, | :22:36. | :22:42. | |
for when he does that, that people on earth, everyone unearthed can see | :22:43. | :22:48. | |
that. I think the technology exists today. We need people to be aware of | :22:49. | :22:54. | |
the issue and to be able to address it. James Chen, we see where you are | :22:55. | :23:01. | |
going! Thank you for coming in. Keep in touch with us and how it is | :23:02. | :23:07. | |
going. In a moment, the business pages. | :23:08. | :23:09. | |
But first, here's a quick reminder of how to get in touch with us. | :23:10. | :23:13. | |
The Business Live page is where you can stay ahead of the breaking | :23:14. | :23:18. | |
business news. We will keep you up-to-date with the latest details, | :23:19. | :23:23. | |
with insight and analysis from the team of editors around the world. We | :23:24. | :23:28. | |
want to hear from you. Get involved on the BBC Business Live web page. | :23:29. | :23:38. | |
We are on Twitter and Facebook. Business Live on TV and online. | :23:39. | :23:40. | |
Whenever you need to know. Brenda is back with us. This story | :23:41. | :23:51. | |
caught might eye this morning. Luxury hotels in Paris, and the | :23:52. | :23:56. | |
bosses they have got rid of because they cannot afford to pay them. What | :23:57. | :24:01. | |
is going on? This is certainly one of the offshoots of what has been | :24:02. | :24:06. | |
happening in Paris in recent months, and the terrorism attacks. It has | :24:07. | :24:10. | |
impacted tourism. We have seen a registered drop of 13.7% in visitors | :24:11. | :24:16. | |
this year compared to last year, and the effect is that business -- | :24:17. | :24:20. | |
hotels are losing revenue, the top or tiles are losing customers. They | :24:21. | :24:26. | |
are the high end customers? Precisely. -- the top hotels. It | :24:27. | :24:33. | |
shows you the impact of terrorism on the tourism industry, particularly | :24:34. | :24:37. | |
in the luxury sector. You might say, that is the luxury sector. But there | :24:38. | :24:43. | |
are a lot of jobs to be dealed -- cleaned out of that sector. I felt a | :24:44. | :24:48. | |
bit sorry for these bosses. I thought, unprecedented times. When | :24:49. | :24:52. | |
you go to hotel management school, I doubt this is an issue they looked | :24:53. | :24:57. | |
at. Is it ever OK just to quit on the spot and leave a job? This is in | :24:58. | :25:02. | |
the Wall Street Journal. Apparently more of us are doing that today than | :25:03. | :25:06. | |
ever before in recent times. What is your take on this? It implies a | :25:07. | :25:13. | |
confidence in the economy and labour market if someone quits. Look at the | :25:14. | :25:17. | |
quit rate in economics. We assess that all the time. This piece is | :25:18. | :25:21. | |
quite interesting because it has seen a big rise in that. I would say | :25:22. | :25:27. | |
it is not necessarily a good idea to quit on the spot. I would say, sleep | :25:28. | :25:32. | |
on it, regional contract beforehand. Stuart Campbell said, no. And Pamela | :25:33. | :25:40. | |
Donaldson says, I did it on one occasion 12 years ago. It was the | :25:41. | :25:44. | |
most wonderful feeling. Well done, Pamela. Thank you, Brenda. We are | :25:45. | :25:49. | |
not quitting. We are here tomorrow. By bye-bye. -- bye-bye. | :25:50. | :25:56. |