Browse content similar to 05/07/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Aaron | :00:00. | :00:07. | |
There's a cloud of uncertainty around the UK's future post Brexit | :00:08. | :00:18. | |
MPs and bank bosses meet later to try to work out what it means for | :00:19. | :00:26. | |
the public? Live from London, that's our top | :00:27. | :00:29. | |
story on Tuesday, 5th July. Gazing into their crystal ball - | :00:30. | :00:42. | |
the UK''s political and economic leaders are going to be peering | :00:43. | :00:47. | |
into the future today try and work out what the UK might | :00:48. | :00:50. | |
look like post Brexit. Could it bring a new period | :00:51. | :00:53. | |
of opportunity and growth or just Now need help finding your | :00:54. | :01:12. | |
smartphone or monitoring your pet? South Korea are launching their | :01:13. | :01:16. | |
first low-cost network to make the money more country. The markets are | :01:17. | :01:21. | |
a little off today, we will explain why. | :01:22. | :01:22. | |
And there's no more dancing around the issue. | :01:23. | :01:25. | |
The UK is leaving the European Union. | :01:26. | :01:27. | |
We continue our special series looking at the sectors | :01:28. | :01:29. | |
Today we assess the impact on higher education with the head | :01:30. | :01:35. | |
And as the head of the IMF says that the EU "will get more work | :01:36. | :01:41. | |
We want to know, did the EU get too big too quickly, | :01:42. | :01:45. | |
and will a smaller, more nimble EU achieve more? | :01:46. | :01:50. | |
Et us know. -- let us know. Lots going on. | :01:51. | :01:59. | |
Today could be the day that some of the post Brexit | :02:00. | :02:04. | |
Three important bodies in the UK will today be looking | :02:05. | :02:09. | |
into their crystal balls to see what the country's vote to leave | :02:10. | :02:12. | |
The Treasury Select Committee and Foreign Affairs Select Committee | :02:13. | :02:16. | |
both gather today to discuss how UK's relationship | :02:17. | :02:23. | |
with the European Union and the wider world might now change. | :02:24. | :02:26. | |
The Bank of England will also today publish its latest biannual | :02:27. | :02:28. | |
Financial Stability Report on their outlook for | :02:29. | :02:30. | |
To top it all off the UK's Finance Minister George Osborne | :02:31. | :02:35. | |
is also spending the day meeting with the heads of some of the major | :02:36. | :02:39. | |
With me is Helen Goodman, a Labour party member of the UK's | :02:40. | :02:46. | |
Nice to see you. Welcome to Business Live. A lot for you to do today and | :02:47. | :02:56. | |
a lot for you to find out. Run me through the headline things that | :02:57. | :03:00. | |
you're looking to discover today? Well, people have probably noticed | :03:01. | :03:03. | |
there isn't a plan for Brexit so we're going to explore how we might | :03:04. | :03:06. | |
leave the EU. The first thing we're going to discuss is what homework | :03:07. | :03:09. | |
ministers need to do. How they're going to prep for the negotiations. | :03:10. | :03:15. | |
How the negotiations are handled. Then we're going to look at the | :03:16. | :03:19. | |
Norway option and we're going to look at a looser arrangement and | :03:20. | :03:22. | |
we're going to look at wider questions like what are the | :03:23. | :03:24. | |
implications for Scotland and Northern Ireland. Why is there no | :03:25. | :03:32. | |
plan? Well, you'd have to ask those people who argued for Brexit that | :03:33. | :03:35. | |
question. I was a Remain person and I feel the Brexit people have really | :03:36. | :03:39. | |
let the country down. I think it was very irresponsible of them. So we | :03:40. | :03:44. | |
find ourselves in this position without a plan, whoever's fault that | :03:45. | :03:46. | |
is. Clearly, the challenge is to come up with a plan and this is what | :03:47. | :03:50. | |
you want to do today. It strikes me there are so many things and there | :03:51. | :03:54. | |
are many things in which we don't have expertise, we've talked a lot | :03:55. | :03:57. | |
about the trade deals that need to be done and we don't have trade | :03:58. | :04:00. | |
negotiators because they are all in Europe. Where do we get that | :04:01. | :04:03. | |
expertise? Where do we start to come up with a plan? OK, what ministers | :04:04. | :04:09. | |
told me is they are recruiting now. They will recruit from the EU, I | :04:10. | :04:15. | |
think, I think they will recruit from law firms in London, but | :04:16. | :04:19. | |
they're trying to staff up the unit and it will probably take a couple | :04:20. | :04:23. | |
of months. Let's talk Article 50. That's the big thing. The big cloud | :04:24. | :04:27. | |
that's hanging over us all about whether it will be triggered and if | :04:28. | :04:32. | |
it will be triggered and when. I suppose the challenge for that, you | :04:33. | :04:35. | |
know, is from a business point of view, some say, yes do it now and do | :04:36. | :04:40. | |
it quickly and we have certainty, others say hang on, make sure we do | :04:41. | :04:43. | |
it right. Which way is it going to go? I hope it will go slightly more | :04:44. | :04:48. | |
slowly because once we trigger Article 50, the clock is ticking. | :04:49. | :04:54. | |
Once the clock is ticking, the other EU member states have got a stronger | :04:55. | :04:57. | |
hand to play and we're in a weak position because we've got to get it | :04:58. | :05:02. | |
done and at the moment we don't know exactly how we want to run these | :05:03. | :05:06. | |
negotiations. So it is better for us to get our act together before we | :05:07. | :05:12. | |
trigger Article 50. In addition, there is a case for putting Article | :05:13. | :05:17. | |
50 into primary legislation so that it is approved by Parliament before | :05:18. | :05:22. | |
it is triggered and that would be quite a good idea because then we'd | :05:23. | :05:26. | |
increase the transparency, the public could see what the deal was | :05:27. | :05:30. | |
going to be, they could comment on it, so that has some attractions. I | :05:31. | :05:34. | |
was going to say before, watching around the world, who don't know the | :05:35. | :05:40. | |
intricasies of Article 50 is the button, once that's triggered, the | :05:41. | :05:44. | |
clock starts ticking to getting out. Can I ask you this, everybody talks | :05:45. | :05:47. | |
about the Norway model, very briefly can you explain what the Norway | :05:48. | :05:51. | |
model is and it could be a perfect option for the UK? OK. So Norway | :05:52. | :05:56. | |
still pay contributions to the EU budget. But they have full access to | :05:57. | :06:02. | |
the single market and they have to accept EU citizens coming to work in | :06:03. | :06:06. | |
the country. So you're almost a member, but not quite. | :06:07. | :06:11. | |
Right. OK. Well, there is a lot going on. The best of luck with | :06:12. | :06:17. | |
today! We need it. Can you find some leadership while you're doing that | :06:18. | :06:20. | |
as well because that kind of would help. Definitely. Helen, thank you. | :06:21. | :06:26. | |
Standard Life Investments has suspended trading in its UK property | :06:27. | :06:28. | |
fund blaming "exceptional market circumstances" following | :06:29. | :06:30. | |
The fund manager said the number of investors asking | :06:31. | :06:37. | |
to withdraw their money had increased following the vote. | :06:38. | :06:40. | |
The last time Standard Life stopped investors taking their money out | :06:41. | :06:45. | |
of the fund was during the financial crisis. | :06:46. | :06:48. | |
The United States has overtaken Saudi Arabia as the biggest | :06:49. | :06:51. | |
That's according to a Norwegian consultancy. | :06:52. | :06:55. | |
More than half of remaining oil reserves in the US are shale oil | :06:56. | :06:58. | |
The US shale boom was one of the reasons behind the recent oil | :06:59. | :07:06. | |
price collapse to $30 a barrel earlier this year. | :07:07. | :07:10. | |
But since then oil prices have rallied and it's now | :07:11. | :07:12. | |
Silver, it is long considered the poorer cousin of gold, | :07:13. | :07:21. | |
is trading at its highest price in more than two years. | :07:22. | :07:24. | |
It comes as investors put their money into precious metals | :07:25. | :07:26. | |
Silver rose by as much as 7% in US trading | :07:27. | :07:30. | |
It has risen 11.5% in the past three days. | :07:31. | :07:34. | |
Gold added more than 1% to settle at $1,350 - that's a two-year high. | :07:35. | :07:52. | |
Guess what our producer took out of that? The hot dog story! Yeah, he is | :07:53. | :08:00. | |
telling me. Our producer doesn't know how to make good television, | :08:01. | :08:02. | |
but we can only try! We can try! Osborne is meeting with bank chiefs | :08:03. | :08:17. | |
today. MPs will meet those giving evidence about what happens next in | :08:18. | :08:21. | |
terms of coming up with a plan. We talked about that, but what will it | :08:22. | :08:27. | |
mean for the UK's future for financial services. George Osborne | :08:28. | :08:32. | |
meeting bank bosses later today to find out what happens next? There is | :08:33. | :08:37. | |
simply no plan. So they will try and come up with something and they're | :08:38. | :08:40. | |
trying to find someone to lead the country to do it, but we'll talk | :08:41. | :08:43. | |
about that later. So how do you like your | :08:44. | :08:52. | |
eggs in the morning? No seriously, what about getting | :08:53. | :08:54. | |
some help to find your smartphone if you lose it or perhaps a coffee | :08:55. | :08:58. | |
maker that delays making your cup of java if you hit your alarm | :08:59. | :09:01. | |
clock's snooze button? One country leading the way | :09:02. | :09:04. | |
in what's been dubbed the Internet of Things is South Korea | :09:05. | :09:06. | |
where the largest mobile carrier is to invest $87 million in making | :09:07. | :09:09. | |
the nation more connected. Sharanjit Leyl is in | :09:10. | :09:11. | |
Singapore for us. Explain this for us because the | :09:12. | :09:20. | |
internet of things, we know about it, it is about connecting these | :09:21. | :09:24. | |
devices. South Korea leading the way? It is, indeed. Certainly do | :09:25. | :09:30. | |
believe it because according to one analyst South Korea is amongst the | :09:31. | :09:34. | |
wide countries in the world and this will help it maintain its lead. | :09:35. | :09:38. | |
Certainly, you talk about that cup of java, but I can't wait for a | :09:39. | :09:42. | |
device to help me monitor my pet dog. This is a much touted | :09:43. | :09:47. | |
technology that really aims to connect household devices, | :09:48. | :09:49. | |
buildings, it helps fridges or printers tell its owners when it | :09:50. | :09:53. | |
needs to be refilled and South Korea, of course, the first country | :09:54. | :09:56. | |
and it is also really interesting because it has done this low-cost | :09:57. | :10:02. | |
which is really aimed at making the country more connected. It is the | :10:03. | :10:06. | |
phone carrier which is behind the initiative. It is using technology | :10:07. | :10:10. | |
that will allow it to reach 99% of the country's population. And | :10:11. | :10:15. | |
certainly, the Netherlands is the only other country which has an | :10:16. | :10:22. | |
internet of things or IOT Network. The telecoms firm is investing up to | :10:23. | :10:26. | |
90 million to further develop the infrastructure which it hopes will | :10:27. | :10:29. | |
be a new source of revenue. Now, users will have to subscribe to | :10:30. | :10:35. | |
monthly price plans of under $2 and in a statement, the company said the | :10:36. | :10:43. | |
price plans are of course highly affordable which will ease the cost | :10:44. | :10:48. | |
burden of start-ups and small and medium enterprises. So I can't wait | :10:49. | :10:54. | |
to go to South Korea and try this out for myself. And get some help | :10:55. | :11:00. | |
for your dog! You could look after your dog yourself! | :11:01. | :11:03. | |
She has gone! Asian shares snapped a five-day | :11:04. | :11:09. | |
winning streak on Tuesday as nervous investors took some profits | :11:10. | :11:18. | |
despite hopes of increased Central Bank stimulus to offset a likely | :11:19. | :11:21. | |
downturn triggered by Brexit. Let me just explain that - | :11:22. | :11:24. | |
Britain's vote to leave the European Union has ramped up | :11:25. | :11:26. | |
the urgency for some of these Asian central banks | :11:27. | :11:29. | |
to ease monetary policy, because of a prolonged | :11:30. | :11:34. | |
period of uncertainty which threatens a wider down-shift | :11:35. | :11:40. | |
in trade and investment. Shares in Italian banks, | :11:41. | :11:44. | |
saddled with a mountain of bad loans, dropped nearly 4% | :11:45. | :11:54. | |
after Italian government said the country had no plans to pump | :11:55. | :11:58. | |
public money into its banks, a move that could be seen | :11:59. | :12:02. | |
as defying EU rules. Joining us is Sue Noffke, UK | :12:03. | :12:11. | |
Equities Fund Manager at Schroders. Let's talk about Mark Carney, he is | :12:12. | :12:22. | |
a man that seems to have a plan. He is laying out the stability report | :12:23. | :12:25. | |
at the Bank of England, the governor of the Bank of England, he is trying | :12:26. | :12:28. | |
to give us some reassurance that everything will be OK? Certainly, | :12:29. | :12:34. | |
the financial system is not going to gum up around lending and capital | :12:35. | :12:39. | |
requirements for banks. So that's what he is going to be talking about | :12:40. | :12:45. | |
today. Potentially, reducing the tightening capital requirement that | :12:46. | :12:48. | |
banks were going to have and potentially taking those off the | :12:49. | :12:52. | |
table, potentially doing more funding for lending. So cheap funds | :12:53. | :12:57. | |
for banks to onward lend to businesses and individuals. To keep | :12:58. | :13:02. | |
the economy going at a time of acute uncertainty. | :13:03. | :13:09. | |
Urn certainty this is what leads investors to putting money, taking | :13:10. | :13:13. | |
money out of the markets and where do we put them, into safe havens, I | :13:14. | :13:18. | |
mentioned silver, gold, but you were mentioning Government debt, right? | :13:19. | :13:24. | |
At times of uncertainty, investors tend to go for safer assets. So that | :13:25. | :13:30. | |
can be precious metals. So gold, silver, platinum, it can be | :13:31. | :13:35. | |
currencies where the central banks don't seem to want to devalue those | :13:36. | :13:40. | |
currencies. So the Swiss Franc, the Japanese yen, the US dollar and then | :13:41. | :13:46. | |
are Government bonds which repay you are Government bonds which repay you | :13:47. | :13:50. | |
in five or ten years' time with a small amount of interest. Those | :13:51. | :13:54. | |
yields, so the returns you're getting paid by those central banks | :13:55. | :14:00. | |
have fallen to historic lows and in some cases are paying investors | :14:01. | :14:04. | |
negative interest rates. So investors are paying to park their | :14:05. | :14:07. | |
money in the Government bonds. That's unprecedented. | :14:08. | :14:12. | |
Sue, thank you. I know you'll talk us through the paper stories later. | :14:13. | :14:21. | |
Still to come, funding the future of you're | :14:22. | :14:24. | |
In the UK, the house builder Persimmon has reported strong | :14:25. | :14:35. | |
figures for the first half of the year but says its too | :14:36. | :14:37. | |
early to judge the impact of the vote to leave the EU. | :14:38. | :14:40. | |
The company's shares plunged by almost a third in the wake | :14:41. | :14:43. | |
of the EU referendum but says it still expects the market to provide | :14:44. | :14:46. | |
It comes after yesterday's figures for the construction sector | :14:47. | :14:53. | |
which showed its worst performance in seven years | :14:54. | :14:55. | |
in a study carried out largely before the referendum. | :14:56. | :15:00. | |
Gillain Econopouly is Head of Policy and Research at the Construction | :15:01. | :15:03. | |
Can we take a step back? Those numbers, the worst in seven years or | :15:04. | :15:18. | |
something, before the referendum, what's the problem, what was the | :15:19. | :15:21. | |
problem behind that? Why? Is construction down? | :15:22. | :15:26. | |
We are expecting to see the drop in PMI. A lot of construction firms | :15:27. | :15:30. | |
said they were holding back on investment or delaying projects | :15:31. | :15:32. | |
because they didn't know which way the vote would go. | :15:33. | :15:43. | |
Persimmon has said there are still opportunities, but companies may | :15:44. | :15:50. | |
still be flexible. Construction we tend to think of as just houses, it | :15:51. | :15:55. | |
is really reliant on infrastructure. It strikes me the industry needs | :15:56. | :16:01. | |
some reassurance in terms of infrastructure, roads, railways, to | :16:02. | :16:07. | |
save those jobs. Absolutely, housing is really important, but | :16:08. | :16:10. | |
infrastructure has a huge role to play. The more reassurance is that | :16:11. | :16:14. | |
governments can give employers, the more confident employers will feel | :16:15. | :16:18. | |
and that will help them train their staff which is crucial of the -- for | :16:19. | :16:33. | |
the country. Thank you, I said your name wrong again! LAUGHTER | :16:34. | :16:42. | |
I want to bring you some more BHS news. More evidence, an interview | :16:43. | :16:50. | |
that Adam has done, the former owner of BHS describing the ?2.6 million | :16:51. | :16:58. | |
that he took out of the company, he says it is a drop in the ocean. It | :16:59. | :17:02. | |
is the first interview there, you can watch it on the website. | :17:03. | :17:06. | |
You're watching Business Live - our top story. | :17:07. | :17:12. | |
With Brexit on its way, some of the UK's top figures are holding these | :17:13. | :17:22. | |
meetings today to try to forge a path forward. Later today the UK's | :17:23. | :17:28. | |
Finance Minister will be discussing the vote with bank bosses. George | :17:29. | :17:34. | |
Osborne is already talking about how the finances will be affected by | :17:35. | :17:38. | |
what he calls a cyclical downturn as a result of Brexit. | :17:39. | :17:42. | |
A quick look at how markets are faring. | :17:43. | :17:51. | |
To losses in Germany and France are a little lower this morning and a | :17:52. | :17:55. | |
pound will buy you $1 32 cents. As part of our special series, | :17:56. | :18:02. | |
we've been assessing the impact And asking whether there | :18:03. | :18:04. | |
are opportunities as well as risks. But what about higher education - | :18:05. | :18:08. | |
and the free movement of students from across the European Union | :18:09. | :18:11. | |
who can choose to study and work There are currently 125,000 | :18:12. | :18:14. | |
EU students in the UK, and they're entitled to similar | :18:15. | :18:18. | |
loans to those offered And those EU students at UK | :18:19. | :18:22. | |
universities generate ?3.7 billion - that's around $4.9 billion | :18:23. | :18:31. | |
for the UK economy. Between them they support more | :18:32. | :18:34. | |
than 34,000 jobs in the UK. Leaving the EU could force students | :18:35. | :18:38. | |
from within the Union to pay much higher fees of up to $46,000 | :18:39. | :18:44. | |
a year to study in the UK and remove their access | :18:45. | :18:48. | |
to the British student loan scheme. In the run-up to the referendum, | :18:49. | :18:52. | |
Leave campaigners said they would protect the money | :18:53. | :18:54. | |
universities receive But there are still no details | :18:55. | :18:56. | |
on exactly how this would happen. Mark Featherstone-Witty, founding | :18:57. | :19:00. | |
principal and Chief Excecutive of The Liverpool Institute | :19:01. | :19:09. | |
for Performing Arts joins us. I'm sorry, it is a long name. We | :19:10. | :19:21. | |
pronounce that one right! Talk us through what Brexit means for you. | :19:22. | :19:31. | |
You have the students from the EU coming to Liverpool. Not just the | :19:32. | :19:35. | |
EU, students from around the world, a third come from outside the | :19:36. | :19:40. | |
country, a third come from outside of Europe from those. As it happens, | :19:41. | :19:48. | |
for some bizarre reason, we had... Currently we have three students | :19:49. | :19:52. | |
from the EU and this year 23 have started to study with us. The | :19:53. | :19:59. | |
interesting thing that has happened, nobody knows what is happening, do | :20:00. | :20:03. | |
they? You are doing a wonderful job trying to piece it all together, but | :20:04. | :20:08. | |
anybody can guess. Joe Johnson who it happens our central body met on | :20:09. | :20:14. | |
the day that the announcement was made about Brexit, said like a lot | :20:15. | :20:20. | |
of government ministers, it is business as usual. You have to | :20:21. | :20:23. | |
remember the universities that everything is on a three-year cycle, | :20:24. | :20:29. | |
they are three-year courses. There is a contract that universities | :20:30. | :20:32. | |
enter in with those students, you cannot stop it part of the way | :20:33. | :20:37. | |
through. You are breaking your contract with them in a way. I | :20:38. | :20:42. | |
believe that it will take three years anyway to work through. You | :20:43. | :20:48. | |
cannot accept people and say I am terribly sorry, you cannot be here | :20:49. | :20:53. | |
any more. It will not be fast. We will check in with you each year! | :20:54. | :20:59. | |
LAUGHTER We night to get an inside look and | :21:00. | :21:04. | |
feel for the person we are chatting too. How did you get involved? You | :21:05. | :21:10. | |
come from a showbiz background, you are without a mobile phone, who | :21:11. | :21:16. | |
doesn't have a mobile phone? I love this, a showbiz background! In the | :21:17. | :21:19. | |
end it was more of an entrepreneurial background although | :21:20. | :21:25. | |
I did spend some time acting. One of the interesting things, you had a | :21:26. | :21:29. | |
picture at the beginning of we are going to talk this person from the | :21:30. | :21:32. | |
performing arts and you showed a picture of people on the stage | :21:33. | :21:37. | |
dancing. The thing I would like to say is everyone who is watching and | :21:38. | :21:42. | |
indeed to you, it is called show business for a reason. It is shallow | :21:43. | :21:51. | |
and business. 76% of those working in the entertainment business | :21:52. | :21:55. | |
ourselves employed. -- it is show and business. Those people cannot | :21:56. | :22:03. | |
just be luvvies, they have to manage their business lives. 84% of SN | :22:04. | :22:11. | |
evens in the performing arts have less than three or four people. -- | :22:12. | :22:18. | |
SMEs. It would be crazy to run the performance arts institution that | :22:19. | :22:23. | |
did not teach business to everyone. What is so interesting about that is | :22:24. | :22:27. | |
you need to teach students to deal with the real world and be their | :22:28. | :22:32. | |
agents and avoid sharks and deal with casting and that is the | :22:33. | :22:37. | |
business of it. It is money in exchange for a service and they need | :22:38. | :22:40. | |
to be worldly wise. Correct, exactly right. Lovely, nice to see you. Time | :22:41. | :22:47. | |
is against us, I would love to talk some more. Thank you very much. We | :22:48. | :22:55. | |
have a tweet, how enthusiastic are these guys, they definitely had | :22:56. | :22:59. | |
their Weetabix this morning! It is you! LAUGHTER | :23:00. | :23:09. | |
Thank you for coming in. He has gone! | :23:10. | :23:10. | |
In a moment we'll take a look through the Business Pages, | :23:11. | :23:12. | |
but first here's a quick reminder of how to get in touch with us. | :23:13. | :23:16. | |
We will keep you up-to-date with insight and analysis from the team | :23:17. | :23:22. | |
of editors from right around the world and we want to hear from you | :23:23. | :23:26. | |
as well. Get involved on the business website on the BBC. You can | :23:27. | :23:38. | |
find us on Twitter and Facebook. We are on TV and online, whenever you | :23:39. | :23:52. | |
need to know. Sue is back to talk to us about the papers. Given all that | :23:53. | :23:56. | |
we have seen about George Osborne wanting to cut corporation tax in | :23:57. | :24:02. | |
the UK, and extra tax on tech firms to pay for things in San Francisco. | :24:03. | :24:06. | |
Property prices have gone up because of the influx and the success of | :24:07. | :24:12. | |
these tech companies. It is about people who have not benefited from | :24:13. | :24:20. | |
the boom. The global income, the inequalities that felt around the | :24:21. | :24:24. | |
globe. People who felt left out, their housing costs have gone up, | :24:25. | :24:28. | |
they are asking the tech firms in some princes go to pay. The problem | :24:29. | :24:34. | |
in putting this kind of thing together and the chances of success | :24:35. | :24:39. | |
are very low because although it is populist, trying to get tech | :24:40. | :24:44. | |
companies... What is the definition of a tech company, where is San | :24:45. | :24:53. | |
Francisco starting and ending? It will be problematic. The | :24:54. | :24:56. | |
protagonists are saying many of these tech companies have Balanta | :24:57. | :25:01. | |
the efforts that are global and they need to do something more. Many are | :25:02. | :25:05. | |
already playing the statutory rate of tax. That is in addition. -- they | :25:06. | :25:12. | |
have charitable efforts that are global. The EU will get more work | :25:13. | :25:19. | |
done with Britain gone. Really? Stay tuned. Yes, but there is a lot of | :25:20. | :25:27. | |
water to go under the bridge to get Britain gone. There will be a lot of | :25:28. | :25:33. | |
work in getting rid of us! Getting Britain gone! That will be the quote | :25:34. | :25:42. | |
of the day. Always a pleasure. But policymakers will try to work out | :25:43. | :25:47. | |
what is happening next, I will stay across the full details, there is | :25:48. | :25:50. | |
full coverage throughout the day across the BBC and on the website. | :25:51. | :25:56. | |
We will see you later, plenty more business news, you have a little bit | :25:57. | :26:00. | |
more. We will see you soon, goodbye! | :26:01. | :26:03. |