Browse content similar to 01/07/2016. Check below for episodes and series from the same categories and more!
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This is Business Live with Victoria Fritz and Sally Bundock. | :00:00. | :00:08. | |
Just a week on from that vote to leave the European Union, Paris, | :00:09. | :00:12. | |
Frankfurt and Dublin look to lure financial firms away from London, | :00:13. | :00:16. | |
as lobbyists from the UK's financial engine scramble to steady the ship. | :00:17. | :00:21. | |
Live from London, that's our top story on Friday, 1 July. | :00:22. | :00:45. | |
The Brexit balls keep on moving. Global stocks rise again as the Bank | :00:46. | :00:50. | |
of England hints more stimulus measures. | :00:51. | :00:51. | |
The electric car made by Tesla is investigated after a fatal crash. | :00:52. | :01:04. | |
And the latest from the markets. You can see them rising yet again after | :01:05. | :01:05. | |
those promises made by Mark Carney. And we hear from the chief executive | :01:06. | :01:07. | |
of Royal Dutch Shell. He says he is eager for the UK to | :01:08. | :01:18. | |
retain access to the single market. Plus, one week on from Brexit, what | :01:19. | :01:23. | |
are your questions about this historic decision? Kamal Ahmed will | :01:24. | :01:27. | |
be here to answer them for you. Just send them in. | :01:28. | :01:34. | |
The UK's decision to leave the EU could potentially have a huge impact | :01:35. | :01:40. | |
on the City of London, which is Europe's biggest | :01:41. | :01:43. | |
Almost 415,000 people work in the City. | :01:44. | :01:51. | |
An additional 150,000 jobs are in nearby Canary Wharf, | :01:52. | :01:53. | |
where many big international banks are based. | :01:54. | :01:58. | |
France's President Francois Hollande has warned that leaving the EU means | :01:59. | :02:03. | |
London would need to give up its role in processing euro | :02:04. | :02:06. | |
currency transactions, worth hundreds of billions of euros. | :02:07. | :02:11. | |
Euro clearing services would likely move to Paris and Frankfurt. | :02:12. | :02:17. | |
And if Britain ends up outside Europe's single market, | :02:18. | :02:21. | |
UK-based banks could also lose their so-called | :02:22. | :02:24. | |
passporting rights, which let them sell financial | :02:25. | :02:28. | |
If this happens, London banks would then need to move | :02:29. | :02:33. | |
staff into the eurozone to serve customers there. | :02:34. | :02:38. | |
Our economics editor, Kamal Ahmed, joins us now. | :02:39. | :02:46. | |
Almost immediately after we heard about this decision, we were hearing | :02:47. | :02:52. | |
rumours about banks relocating people. Any bank, whether it is | :02:53. | :03:00. | |
based in the UK, the US or Asia, has something in London. What does this | :03:01. | :03:07. | |
mean? At the moment we can't be very clear about what the relationship | :03:08. | :03:11. | |
will be between the UK and the European Union in terms of trade | :03:12. | :03:14. | |
relationships. Nothing has actually changed. A number of banks, JP | :03:15. | :03:20. | |
Morgan HSBC, have said they may need to move some operations into the | :03:21. | :03:27. | |
euro error -- area, if Britain gets no kind of single market agreement. | :03:28. | :03:32. | |
London is an incredibly powerful global market. And it is a | :03:33. | :03:39. | |
competitor to Singapore, Hong Kong and New York. It is much larger than | :03:40. | :03:46. | |
Frankfurt or Paris. This is all about markets. It is about where | :03:47. | :03:50. | |
businesses in Europe and in the UK can find the cheapest capital. They | :03:51. | :03:54. | |
want markets which are the deepest and the most functioning. There was | :03:55. | :04:00. | |
a movement in the 1990s to move some transactions work to Frankfurt. It | :04:01. | :04:03. | |
all moved back to London because in London there are far more | :04:04. | :04:08. | |
counterparties. You can borrow more cheaply in London because there is a | :04:09. | :04:12. | |
deeper market. Anyone who has been to Paris or Frankfurt will no that | :04:13. | :04:17. | |
in size terms they are tiny compared to London. Although there is | :04:18. | :04:23. | |
nervousness and concern, London's size at the moment is much more | :04:24. | :04:27. | |
advantageous than maybe some of the reporting suggests. Also, there is a | :04:28. | :04:33. | |
very strange and perhaps double-edged sword in terms of | :04:34. | :04:39. | |
bankers bonuses. The British government lobbied unsuccessfully to | :04:40. | :04:43. | |
get rid of the EU bonus capped. If Britain was to leave the EU, it | :04:44. | :04:46. | |
could scrap that world altogether and presumably money talks, people | :04:47. | :04:50. | |
will stay if they think they will be paid more? Absolutely right. Money | :04:51. | :04:56. | |
and location talk. It plays -- London attracts talent from around | :04:57. | :05:01. | |
million people live in the British million people live in the British | :05:02. | :05:04. | |
capital. If you look at things like the bonus tax, the other issue was | :05:05. | :05:09. | |
the financial transactions tax, seen as something that would not be good | :05:10. | :05:13. | |
for London. I don't want to say there are no risks. But there are | :05:14. | :05:16. | |
many people who argue, particularly the speak to banking executives | :05:17. | :05:22. | |
privately, we say that London's sheer size will maintain its | :05:23. | :05:24. | |
position in the short to medium term. Obviously over the longer | :05:25. | :05:29. | |
term, because this is a service industry based on people and talent, | :05:30. | :05:33. | |
they can move easily. It is not like you were moving a steel factory from | :05:34. | :05:37. | |
London to France. You are moving people. And if they can move | :05:38. | :05:42. | |
quickly, once things start changing, they can change rapidly. Apparently | :05:43. | :05:45. | |
on Monday we are guiding you something about the London stock | :05:46. | :05:51. | |
exchange. A merger. Any thoughts on what they might say next week? Yes, | :05:52. | :05:56. | |
the German regulator has made it clear that given the vote last week | :05:57. | :05:59. | |
on Britain leaving the European Union, it is more uncomfortable | :06:00. | :06:02. | |
about this new merged entity being headquartered in London. There will | :06:03. | :06:07. | |
be an issue if this deal goes through and the shareholder revolts | :06:08. | :06:12. | |
are imminent, if this deal goes through there is a greater chance of | :06:13. | :06:14. | |
headquarters being in Frankfurt rather than London. That would raise | :06:15. | :06:18. | |
some issues about this being a takeover rather than a merger. There | :06:19. | :06:26. | |
are some big issues which will be made more confusing and more | :06:27. | :06:29. | |
difficult because of the referendum result. Like we need more confusion! | :06:30. | :06:34. | |
Kamal will return in about ten minutes. Send us your questions | :06:35. | :06:40. | |
about Brexit. I am sure you have many. He will try to tackle them for | :06:41. | :06:42. | |
you. Authorities in the US | :06:43. | :06:49. | |
are investigating the death of a man who was using the autopilot feature | :06:50. | :06:51. | |
in a Tesla electric car. The 45-year-old died in a crash | :06:52. | :06:54. | |
in Florida in May, when the system, which automatically switches lanes, | :06:55. | :06:57. | |
failed to spot a lorry. The company said the crash | :06:58. | :06:59. | |
was "a terrible loss". The European Union's top trade | :07:00. | :07:03. | |
official, Cecilia Malmstrom, says the UK cannot begin negotiating | :07:04. | :07:05. | |
terms for doing business with the bloc until after | :07:06. | :07:08. | |
it has left the EU. After Britain leaves, | :07:09. | :07:15. | |
she said trade would be carried out based on World Trade Organisation | :07:16. | :07:18. | |
rules until a new deal was complete. US chocolate giant Hershey has | :07:19. | :07:23. | |
rejected a $23 billion takeover the owner of brands including | :07:24. | :07:27. | |
Cadburys and Oreos. The deal would have | :07:28. | :07:33. | |
created the world's top confectionery company, | :07:34. | :07:35. | |
overtaking the current leader Mars. But Hershey's controlling | :07:36. | :07:38. | |
shareholder - a charitable trust created by the founder in 1894 - | :07:39. | :07:43. | |
said the board had unanimously rejected the offer and decided there | :07:44. | :07:46. | |
was no basis for further discussion. There is more detail on the website | :07:47. | :08:01. | |
about that story. It was a Newsnight interview with Cecila miles from, | :08:02. | :08:05. | |
where she talked about this situation with regards to win the UK | :08:06. | :08:09. | |
can begin to negotiate its terms of leaving the European Union. If you | :08:10. | :08:15. | |
want to read more detail, it is a very interesting article. This is at | :08:16. | :08:18. | |
odds with many of the other opinions out there that we can start | :08:19. | :08:23. | |
negotiating when we hit the Article 50 button. This is saying there are | :08:24. | :08:27. | |
two negotiations that need to take place. The first is how we lead and | :08:28. | :08:32. | |
after that, under EU rules, it is only then that we will be able to | :08:33. | :08:37. | |
negotiate any kind of trade deal. Very interesting. One wonders if the | :08:38. | :08:41. | |
rule book will apply in the next couple of years. It will keep us | :08:42. | :08:42. | |
busy. Japan loses ownership of one | :08:43. | :08:43. | |
of its most well-known electronics brands today, when Taiwan's Foxconn | :08:44. | :08:45. | |
officially takes over The move may see as many | :08:46. | :08:47. | |
as 7000 job losses. Mariko Oi is in Singapore | :08:48. | :08:52. | |
for us this morning. How does Japan feel about losing | :08:53. | :09:05. | |
ownership of one of its most iconic brands? We have been talking about | :09:06. | :09:13. | |
this $3.5 billion deal for several months, several years, in fact. I | :09:14. | :09:19. | |
bet my entire monthly salary this would not go ahead because the | :09:20. | :09:23. | |
country's technological sector has been known to be very insular and | :09:24. | :09:27. | |
never accepting takeover offers from a foreign company. Sharp is | :09:28. | :09:34. | |
definitely the first. Earlier in the week I spoke to some shoppers in | :09:35. | :09:38. | |
Tokyo. Some of them said they were sentimental. Others expressed | :09:39. | :09:42. | |
concerns because it is Fox con, which is owned by Taiwan, and China. | :09:43. | :09:52. | |
China has often been accused of copying other people's technology. | :09:53. | :09:57. | |
Job cuts maybe around the corner. There is speculation about whether | :09:58. | :10:02. | |
that will happen, even though the fox con management promised they | :10:03. | :10:05. | |
would try to protect as many jobs as possible. Thank you very much. | :10:06. | :10:10. | |
A quick look at the markets. Many of the main industries raised the Foals | :10:11. | :10:20. | |
sparked by last week's decision by Britain to leave the EU. On the | :10:21. | :10:29. | |
European markets, they are pushing hard for a second day. Shares are | :10:30. | :10:33. | |
very much basking in the prospect of more stimulus to ward off a Brexit | :10:34. | :10:38. | |
induced economic slowdown. Samir Rojo sene is in New York. | :10:39. | :10:46. | |
On Friday, Puerto Rico faces a potential default on a chunk of its | :10:47. | :10:50. | |
debt. If it cannot make $1.9 billion worth of payments. Congress has | :10:51. | :10:53. | |
approved a relief plan to help were to Rico address 70 billion of that | :10:54. | :10:59. | |
debt. The Puerto Rico government has said the island will still default | :11:00. | :11:07. | |
on some of what they owe. US numbers are out today and are expected to | :11:08. | :11:13. | |
have risen by 5%. 2015 was a record high for car sales. While this year | :11:14. | :11:17. | |
sales numbers are quite strong, it looks unlikely they will be able to | :11:18. | :11:21. | |
break another record. In fact, some analysts believe the peak of sales | :11:22. | :11:25. | |
in the automobile industry has passed. And finally, US | :11:26. | :11:29. | |
manufacturing numbers out today suggest economists are not expecting | :11:30. | :11:36. | |
much left for the month of June. Struggling overseas economies and | :11:37. | :11:38. | |
limited business investment are to blame. | :11:39. | :11:40. | |
Joining us now is Lawrence Gosling, editor-in-chief of Investment Week. | :11:41. | :11:48. | |
Samir are talking about the data coming out of the US. She talked | :11:49. | :11:56. | |
about manufacturers and the difficulties they are facing. A | :11:57. | :12:01. | |
strong dollar is not helping, is it? Not at all. We have seen huge swings | :12:02. | :12:05. | |
in currencies in the past week. The dollar is the safe haven currency | :12:06. | :12:10. | |
for global investors. The US economy is pretty strong. Strong dollar not | :12:11. | :12:15. | |
great for US manufacturers. I would imagine that is on Janet Yellen 's's | :12:16. | :12:20. | |
might? A little bit. Central banks do not have a huge the Power to | :12:21. | :12:25. | |
manipulate currency. We heard some of that from Mark Carney yesterday. | :12:26. | :12:30. | |
I was at the Bank of England yesterday and we saw a massive rise | :12:31. | :12:33. | |
in the value of the Footsie within the first ten minutes of him | :12:34. | :12:41. | |
speaking. Doesn't this Telus and all full lot about low interest rates? | :12:42. | :12:44. | |
Obviously the dangers and the uncertainty have not really gone | :12:45. | :12:48. | |
away, particularly on the fiscal side, yet everybody is now ploughing | :12:49. | :12:54. | |
back into equities? Yes, the symbol at -- the simple economics have not | :12:55. | :12:59. | |
changed. The UK economy is OK but it is a little fragile, as the bank of | :13:00. | :13:03. | |
England has said. The one obvious to they have is a cut in interest | :13:04. | :13:07. | |
rates. It is interesting as to whether they do it on the 14th of | :13:08. | :13:12. | |
July, or they hold off during the summer. The summer is notoriously | :13:13. | :13:15. | |
difficult to judge from an economic perspective. A lot of it is driven | :13:16. | :13:21. | |
by the weather. It is called the silly season. A hot summer is good | :13:22. | :13:27. | |
for consumer spending. It has been soggy so far. Things like that they | :13:28. | :13:31. | |
do actually look at. They will not press the button because there is a | :13:32. | :13:34. | |
little bit more rain than perhaps was forecast. We will see you later. | :13:35. | :13:42. | |
The BBC has been speaking to the boss of the oil giant Shell. And | :13:43. | :13:49. | |
some of his fears about Britain use -- losing access to the single | :13:50. | :13:50. | |
market. You're with Business | :13:51. | :13:50. | |
Live from the UK. Now, can Britain plough | :13:51. | :13:54. | |
its own furrow, or is there UK farmers will meet today | :13:55. | :13:56. | |
to discuss the post-Brexit future. Meurig Raymond is President | :13:57. | :14:01. | |
of the National Farmers Union. The NFU hazard -- advised its | :14:02. | :14:16. | |
members to remain before the referendum. Farmers were pretty | :14:17. | :14:25. | |
divided. Many voted Leave. Of course, this is a huge issue. I | :14:26. | :14:29. | |
wonder where you even begin to start with this today? Good morning. | :14:30. | :14:35. | |
Obviously food and farming is so important to the nation. You produce | :14:36. | :14:40. | |
the food for people to it, the ingredients for the food and drinks | :14:41. | :14:44. | |
sector. The NFU Council, the governing body of the National | :14:45. | :14:48. | |
Farmers' Union, will meet today to look at priorities, to look at | :14:49. | :14:52. | |
options. Following on from the meeting, we will go out to | :14:53. | :14:56. | |
consultation with our 50,000 members across England and Wales, to put | :14:57. | :15:01. | |
together a domestic agricultural policy that will be fit for purpose | :15:02. | :15:06. | |
for UK farming. We want this opportunity to give us the ability | :15:07. | :15:11. | |
to compete, to be profitable and increase our productivity for the | :15:12. | :15:16. | |
future. The EU subsidies represent more than half the income of UK | :15:17. | :15:21. | |
farms. Each farm gets more than ?70,000 per year from Brussels. Will | :15:22. | :15:24. | |
you ask the UK government for the equivalent? Let's go through the | :15:25. | :15:29. | |
consultation today with our members. That is so important. Following on | :15:30. | :15:34. | |
from that, all I would say is that we must not be disadvantaged from | :15:35. | :15:39. | |
our European competitors, from other competitors around the world, | :15:40. | :15:43. | |
because if our competitors are receiving support from their | :15:44. | :15:46. | |
government, it is so important that we have equal support, otherwise we | :15:47. | :15:52. | |
will become uncompetitive and find it difficult to expand our | :15:53. | :15:55. | |
production. All the surveys we have done a the NFU with the British | :15:56. | :15:59. | |
people highlight that the British people want to see more British food | :16:00. | :16:03. | |
on their plates. We need that competitive and innovative, | :16:04. | :16:07. | |
productive sector to drive British agriculture fought. -- forward. | :16:08. | :16:19. | |
In an very important subject for both UK and European farmers. More | :16:20. | :16:25. | |
details about the challenges they are facing. Look when you have time. | :16:26. | :16:31. | |
64% of exports coming from Paris, Frankfurt and Dublin are all | :16:32. | :16:50. | |
looking to lure firms away from London, our capital. | :16:51. | :16:55. | |
A quick look at how markets are faring. | :16:56. | :16:59. | |
It's the final trading day of the week, and the week has probably gone | :17:00. | :17:05. | |
better than many would have expected. Remember, at the start of | :17:06. | :17:09. | |
the week, we saw heavy, heavy losses. Then we went into bounce- | :17:10. | :17:16. | |
back mode. We seem to have stayed in that place, thanks to Mark Carney | :17:17. | :17:22. | |
who spoke yesterday afternoon. The FTSE yesterday, closing at a ten | :17:23. | :17:26. | |
month high. We saw sterling fall against the dollar. It's at 100 and | :17:27. | :17:39. | |
-- we've seen a link between the | :17:40. | :17:43. | |
falling sterling and the rise of the FTSE. | :17:44. | :17:45. | |
Let's stay with Brexit because - like Britain's banks - | :17:46. | :17:48. | |
the bosses of the world's largest oil companies are also trying | :17:49. | :17:50. | |
The BBC has been speaking to Ben van Beurden, the chief executive | :17:51. | :17:55. | |
I hope that the relationship that will be defined by the governments | :17:56. | :18:04. | |
of the UK and the EU will give us access to the single market. | :18:05. | :18:10. | |
Ideally, the free movement of people. Important borough company | :18:11. | :18:17. | |
like us. But at this point in time it would be speculative to see what | :18:18. | :18:21. | |
is going to happen. I think nothing will happen. I think we will still | :18:22. | :18:25. | |
meet our investment programmes that we have in the UK, we were still | :18:26. | :18:32. | |
recruit people in the UK, supply energy to them. In the short term, | :18:33. | :18:38. | |
there is no change, but how it will play out in the long run. | :18:39. | :18:43. | |
Our economics editor, Kamal Ahmed, is joining us again. | :18:44. | :18:49. | |
Keep your questions coming in. Let's take a question from Kevin. He says | :18:50. | :18:57. | |
what time frame is most likely the British Government to invoke article | :18:58. | :19:03. | |
50? A huge question. Theresa May, who is currently then you run run | :19:04. | :19:10. | |
for the leader of the Conservative Party, and therefore Prime Minister, | :19:11. | :19:14. | |
she isn't in a hurry to spark article 50. We need to be clear on | :19:15. | :19:20. | |
what we want, as Britain, from the EU, before article 50 is sparked. It | :19:21. | :19:24. | |
seems possible that it would be next year. And once it drift into next | :19:25. | :19:31. | |
year then it could be longer. There's no immediate article where | :19:32. | :19:38. | |
that will be sparked. What you make of Cecilia Maelstrom's comments to | :19:39. | :19:45. | |
Newsnight? There's a huge difference between the politics of the issue, | :19:46. | :19:49. | |
the legality of the issues and the business issues around it. Legally, | :19:50. | :19:54. | |
it may be correct what she said about the sequencing, so that you | :19:55. | :19:59. | |
have to negotiate your exit and then your re-entry. What kind of market | :20:00. | :20:02. | |
relationship we will have with the EU. Politically, it would be very, | :20:03. | :20:08. | |
very difficult to achieve. This is now up in it -- political issue. | :20:09. | :20:14. | |
Businesses in both Europe and Britain will not want to wait for | :20:15. | :20:20. | |
username to get the definition of what a single market or the style of | :20:21. | :20:26. | |
relationship will be between Britain and Europe. We've got some viewers | :20:27. | :20:34. | |
in Africa, John P O, says what were the aid mean between written in | :20:35. | :20:40. | |
Europe? It's an interesting question. In terms of the commitment | :20:41. | :20:47. | |
to send 0.7% of its GDP on international development. It could | :20:48. | :20:51. | |
end it would be up to the new Prime Minister to decide that. In terms of | :20:52. | :20:56. | |
trade, leaving the EU it could be very positive. When we were ejected | :20:57. | :21:00. | |
from the exchange rate mechanism, which was the four word for the | :21:01. | :21:10. | |
single currency, there was rapid increase in sterling. So companies | :21:11. | :21:13. | |
could be obliged to look elsewhere for opportunities and emerging | :21:14. | :21:18. | |
economies in Africa, South Africa particularly. Nigeria, Angola, | :21:19. | :21:23. | |
picked, powerful economies. One of the sticking points with -- is what | :21:24. | :21:28. | |
happens with the movement of freedom -- free movement of people? We had | :21:29. | :21:34. | |
this from Shane Dowling, could we not agree that people could get work | :21:35. | :21:40. | |
permits and give no automatic rights for UK benefits system? There's | :21:41. | :21:48. | |
tensions around this, not just in Britain, but in other countries, | :21:49. | :21:52. | |
Denmark, France, the Netherlands. I think what you could get to is free | :21:53. | :21:59. | |
movement minus. So it's the freedom to work wherever you want in Europe | :22:00. | :22:05. | |
if you have a job. Not the right of every citizen to go to the country | :22:06. | :22:10. | |
and look for work. There could be something around that which were not | :22:11. | :22:16. | |
highly mean that Britain could be in a single markets with the EU without | :22:17. | :22:23. | |
free movement. But in fact free movement minor -- free movement | :22:24. | :22:31. | |
minus. Who came up with a? IDs! This free movement issue isn't just an | :22:32. | :22:39. | |
issue for Britain. Other countries might want to work on changing that | :22:40. | :22:46. | |
central pillar. We thank you for your questions. It's good to get | :22:47. | :22:49. | |
answers to what you are thinking about. Let's get a little bit more | :22:50. | :22:57. | |
about that story from Tesla. The US authorities are investigating the | :22:58. | :23:01. | |
death of a man who is using autopilot in one of their cars. The | :23:02. | :23:05. | |
45-year-old died when the system that changes lanes fail to notice a | :23:06. | :23:12. | |
lorry. We have the details. Tesla is a company considered to be at the | :23:13. | :23:16. | |
cutting edge of card technology, not just in the way it powered vehicles | :23:17. | :23:21. | |
but how it controls them as well. One of the new features is a feature | :23:22. | :23:26. | |
called autopilot, that's the way that the car is automatically able | :23:27. | :23:31. | |
to change lanes, speed up and slow down according to traffic. US | :23:32. | :23:36. | |
investigators are looking at that feature and are wondering if its | :23:37. | :23:39. | |
malfunction led to the death of a man using it on one of its roads in | :23:40. | :23:45. | |
May. If the software is found to be at fault there could be a recall and | :23:46. | :23:57. | |
Tesla could be asked to disable the function on the car. Some are asking | :23:58. | :24:01. | |
whether this technology is really ready to be used on public roads | :24:02. | :24:09. | |
just yet. Lawrence is back to talk to us about some of the stories in | :24:10. | :24:13. | |
the business. So many angles on Brexit. Why buyers tempted by the | :24:14. | :24:21. | |
weak pound? They'd been sweeping on London according to the Financial | :24:22. | :24:25. | |
Times. They have picked up high quality art. There was a | :24:26. | :24:29. | |
contemporary Art auction which when 20% over the estimated sort of | :24:30. | :24:35. | |
prices. The people who deal in fine wine are reporting huge trade last | :24:36. | :24:40. | |
week and this week. It's an asset that may not go down in value in | :24:41. | :24:44. | |
other assets are all over the place? We've seen huge uplift in the | :24:45. | :24:50. | |
evaluation in the last 10-15 years because it's a great store of value. | :24:51. | :24:56. | |
There's only one Picassos as it said. That how you transport this is | :24:57. | :25:00. | |
going to be very interesting. At the moment, we are a low tax gateway. | :25:01. | :25:06. | |
Presumably if that's changes then there could be markets and more | :25:07. | :25:12. | |
profitable. We have a very low percent, 5%, compared to 20 plenty | :25:13. | :25:18. | |
Germany. In London might not be quite as attractive if we see the | :25:19. | :25:21. | |
effect of Brexit on the tariffs. What about virtual reality | :25:22. | :25:32. | |
technology? There are concerns about headaches and whether it suitable | :25:33. | :25:34. | |
for children, which is obviously a big part of intent to's market. And | :25:35. | :25:42. | |
the elderly! They love some of the consoles, don't they? I don't really | :25:43. | :25:49. | |
want my children spending a lot of time with virtual reality equipment | :25:50. | :25:54. | |
and getting headaches and that sort of thing. That's it from us today. | :25:55. | :26:02. | |
Plenty more on the website. Have a lovely | :26:03. | :26:03. |