Browse content similar to 20/07/2016. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Ben Thompson and Sally Bundock. | :00:00. | :00:10. | |
So it's official, Donald Trump is the Republican | :00:11. | :00:12. | |
He has announced tax cuts for the rich and a hard-line on trade. | :00:13. | :00:28. | |
Live from London, that's our top story on Wednesday, 20th July. | :00:29. | :00:39. | |
He's vowed to slap tariffs on Chinese imports and build a wall | :00:40. | :00:42. | |
We'll take a look at what Donald Trump's policies | :00:43. | :00:50. | |
could mean for the US economy and the rest of the world. | :00:51. | :00:53. | |
Also on the programme: As the UK's new Prime Minister vows to get tough | :00:54. | :00:57. | |
She wins the backing of the world's biggest fund managers. | :00:58. | :01:04. | |
She'll also meet European leaders for the first time later. | :01:05. | :01:06. | |
And markets look like this in the first half hour of trade. | :01:07. | :01:10. | |
The latest UK jobs numbers are due in the next hour. | :01:11. | :01:13. | |
It's the size of a small coffee machine and can diagnose | :01:14. | :01:16. | |
Later in the programme we'll speak to the inventor of Samba, | :01:17. | :01:23. | |
an award-winning medical device aimed at tackling one of the world's | :01:24. | :01:26. | |
Today we want to know what would make you pay | :01:27. | :01:29. | |
How about a billboard naming and shaming those who ve | :01:30. | :01:35. | |
This is what's happened in China, is it a sensible move | :01:36. | :01:41. | |
And we're starting today in the US where Donald Trump has been formally | :01:42. | :02:00. | |
nominated as the Republican candidate for the US | :02:01. | :02:02. | |
Next week Hillary Clinton is due receive the formal stamp | :02:03. | :02:07. | |
So what could the presidency of Trump or Clinton mean | :02:08. | :02:15. | |
Both hold vastly different views over tax and the size of the state. | :02:16. | :02:19. | |
While Hillary Clinton believes the richest people in society | :02:20. | :02:21. | |
Donald Trump is staunchly opposed - saying he favours slashing tax bills | :02:22. | :02:28. | |
for the highest earners as well as those on lower incomes. | :02:29. | :02:31. | |
On the minimum wage - while both are in favour of reducing | :02:32. | :02:35. | |
the tax burden for the least well-off, the Democrats have also | :02:36. | :02:38. | |
proposed raising the minimum wage to $15 per hour. | :02:39. | :02:41. | |
Trump has previously said he's against any changes. | :02:42. | :02:46. | |
But recently he's softened his language, meaning there could be | :02:47. | :02:49. | |
a rise in the federal minimum wage from $7.25 an hour | :02:50. | :02:52. | |
Despite their differences, both candidates are united | :02:53. | :02:58. | |
in opposing the controversial trade deal known as TPP. | :02:59. | :03:04. | |
It involves 12 Pacific Rim countries but Mr Trump has already | :03:05. | :03:07. | |
vowed to impose significant tariffs on goods imported | :03:08. | :03:09. | |
With me now is Tom Packer, Fellow of the Rothermere American Institute, | :03:10. | :03:22. | |
Nice to see you Tom. Do you know more about what their economic ideas | :03:23. | :03:35. | |
are? Yes, I would emphasise that in particular in the case of Mrs | :03:36. | :03:43. | |
Clinton deference to the currents within their political party. | :03:44. | :03:46. | |
Growing concerns about inequality and she, I think, is sympathetic to | :03:47. | :03:51. | |
it and is responding to it. From her point of view, will it be an | :03:52. | :03:56. | |
evolution of what Barack Obama has introduced or any significant | :03:57. | :04:01. | |
change? That's, I think that's the idea, a slightly more sceptic view, | :04:02. | :04:05. | |
higher minimum wages. Having said that, she has to get all this | :04:06. | :04:08. | |
through Congress and there is a limit to how much she can push the | :04:09. | :04:13. | |
board on executive actions and Congress is Republican controlled. | :04:14. | :04:17. | |
What about Mr Trump? Mr Trump is very different from Mrs Clinton who | :04:18. | :04:21. | |
has been high level in US politics for a quarter of a century. Still | :04:22. | :04:29. | |
mosty the same themes. The biggest difference is on trade. If you look | :04:30. | :04:33. | |
at his language clear, it is not clear that he is that protectionist. | :04:34. | :04:37. | |
Anyone looking from the outside in will think, "What does it mean for | :04:38. | :04:40. | |
trade with the United States and will we suddenly see tariffs being | :04:41. | :04:44. | |
slapped on left, right and centre in the talk of protecting the US | :04:45. | :04:48. | |
worker?" Mrs Clinton, I think it won't be that different from Barack | :04:49. | :04:52. | |
Obama. There is a big protectionist movement in her party. She is has a | :04:53. | :04:55. | |
long history of opposing trade deals in election years and deciding they | :04:56. | :05:00. | |
are a good idea when they're not. Mr Trump is less predictable than Mrs | :05:01. | :05:06. | |
Clinton, but when one looks at the Republican platform, it is | :05:07. | :05:09. | |
surprising how little change there has been. Once he is president, he | :05:10. | :05:14. | |
may decide there are more good deals than it looks like at the moment. To | :05:15. | :05:18. | |
what extent is the economy on the minds of the voter this time? I | :05:19. | :05:22. | |
think reasonably so and there is some signs of softening, of course, | :05:23. | :05:27. | |
but at the moment, I think it has been relatively low for an election | :05:28. | :05:32. | |
year, less so than 2012, but all it would take is bad economic news to | :05:33. | :05:38. | |
force the economy up the agenda. Thank you for coming in. Very | :05:39. | :05:42. | |
interesting and we shall keep across it whether you like it or you don't. | :05:43. | :05:45. | |
We will be on the sclams a long way to go before we get to a result in | :05:46. | :05:49. | |
the US Presidential elections, but we will keep you up-to-date. | :05:50. | :05:51. | |
Three States have taken lawsuits against Volkswagen. New York's | :05:52. | :06:05. | |
Attorney-General called the use of the defeat devices a widespread | :06:06. | :06:10. | |
conspiracy. VW says the allegation are not new and the car maker has | :06:11. | :06:14. | |
been co-operating with US authorities. Eurostar cancelled for | :06:15. | :06:21. | |
trains today. The firm suspended three train services on Tuesday and | :06:22. | :06:25. | |
a further six services have been cancelled today. Trains between | :06:26. | :06:28. | |
London, Brussels and Paris are all affected. Eurostar is urging | :06:29. | :06:32. | |
customers to check the website before setting off. | :06:33. | :06:37. | |
Brazil's Supreme Court has overruled a decision ordering mobile phone | :06:38. | :06:39. | |
operators to block access to the messaging service Whatsapp. | :06:40. | :06:42. | |
The president of the court said the ruling had been disproportionate | :06:43. | :06:44. | |
because the app is so widely used in Brazil. | :06:45. | :06:48. | |
It's the third time in two years that WhatsApp has been threatened. | :06:49. | :06:58. | |
An important day for UK Prime Minister, Theresa May. She is | :06:59. | :07:03. | |
meeting Angela Merkel in Berlin. It is the first time that the two will | :07:04. | :07:09. | |
talk as leaders of European countries. Fa delity backs Theresa | :07:10. | :07:17. | |
May's pay plans. They are saying they are right behind her in her | :07:18. | :07:21. | |
views when it comes to what bosses earn in comparison to those who work | :07:22. | :07:25. | |
for the bosses. The crux of this debate is about so-called long-term | :07:26. | :07:29. | |
thinking. So pay packets, remuneration deals that reward | :07:30. | :07:33. | |
long-term thinking rather than simply short-term results. So not | :07:34. | :07:36. | |
just based on purely the profits over the course of a year, but what | :07:37. | :07:39. | |
they can manage to deliver in the longer term and they say that should | :07:40. | :07:47. | |
be the way to pay bosses. That's Dominic Rossi and that's a company | :07:48. | :07:52. | |
that manages $250 billion worldwide in assets. So they feel they have a | :07:53. | :07:54. | |
voice. More on that online. Now Pokemon fever. It has been | :07:55. | :08:13. | |
moving share prices. Nintendo's share in Japan actually fell. They | :08:14. | :08:17. | |
fell 15% on news that the release of the game could be delayed in Japan. | :08:18. | :08:21. | |
Let's find out why. First, Charlotte Glennie | :08:22. | :08:25. | |
is in Singapore. Why the delay? It has been reported | :08:26. | :08:36. | |
there will be a delay and there has been a rally in the Nikkei that | :08:37. | :08:42. | |
lasted several days with investment excitement in the Pokemon Go craze. | :08:43. | :08:45. | |
Until today when this reported delay was announced and this led the | :08:46. | :08:50. | |
shares to die, ending down more than 12%, but there is a winner out of | :08:51. | :08:56. | |
this, Sally and that's shares in McDonald's Japan are up, nearly 10%. | :08:57. | :09:00. | |
This follows reports that the fast-food company been the game's | :09:01. | :09:06. | |
first sponsor and will act as a gym for Pokemon Go players where they | :09:07. | :09:10. | |
can battle against each other and get new Pokemon characters. It is | :09:11. | :09:14. | |
expected to bring customers flocking to McDonald's. When that will be | :09:15. | :09:18. | |
nobody knows because there is not an official launch date for the game at | :09:19. | :09:22. | |
this point in Japan. Charlotte, thank you. | :09:23. | :09:29. | |
It still amazes me that investors get so excited by effectively | :09:30. | :09:34. | |
cartoon characters! Nonetheless, Japan's Nikkei ending the session | :09:35. | :09:38. | |
down a quarter of a percent breaking the seven-day winning streak. Partly | :09:39. | :09:43. | |
blamed on a bit of profit taking. As we heard from Charlotte, shares in | :09:44. | :09:48. | |
Nintendo falling after the reported delay for the launch in Japan. It | :09:49. | :09:52. | |
does show how much is riding on the success of that game after that | :09:53. | :09:56. | |
stellar growth off the back of its success elsewhere in the world. A | :09:57. | :10:02. | |
quick look at what Europe is doing. Yesterday we got the slight rise in | :10:03. | :10:07. | |
inflation, today it is the turn of jobs data. Average earnings are | :10:08. | :10:14. | |
expected to rise a little bit, but the overall unemployment rate, | :10:15. | :10:17. | |
probably going to stay about 5%. Of course, it is possible that that | :10:18. | :10:21. | |
means firms put off hiring in the run-up to the election, the EU | :10:22. | :10:26. | |
referendum, but, of course, it is more likely the real impact will be | :10:27. | :10:29. | |
felt a little later on as firms decide what it actually means for | :10:30. | :10:32. | |
them in the real economy. So we'll talk about that in a moment. | :10:33. | :10:36. | |
Michelle has the details about the day ahead on Wall Street. Two | :10:37. | :10:40. | |
companies watching Softbank's purchase of Arm Holdings with great | :10:41. | :10:51. | |
interest are Intel. Key for Tin tell's future is | :10:52. | :10:57. | |
lessening its dependence on the PC market which is shrinking, but | :10:58. | :11:00. | |
profits at the largest chip maker got a boost after the PC market did | :11:01. | :11:04. | |
better than expected in the second quarter. Prospects for Coolcom | :11:05. | :11:16. | |
aren't so rosy. Analysts are predicting a drop this third quarter | :11:17. | :11:20. | |
revenue. The results from the big banks continue to roll in. Goldman | :11:21. | :11:23. | |
Sachs turned in an impressive performance on Tuesday. Can Morgan | :11:24. | :11:28. | |
Stanley keep up the momentum when it turns in its report card? | :11:29. | :11:36. | |
Lots of earning stories coming out of the States. | :11:37. | :11:42. | |
Joining us is David Buik, Market analyst, Panmure Gordon. | :11:43. | :11:47. | |
You wanted to mention Goldman Sachs. They are had better than expected | :11:48. | :11:55. | |
results, but you are not so sure. I think the whole global equity market | :11:56. | :11:59. | |
has been brought forward on a wave of quantitative easing and Central | :12:00. | :12:02. | |
Bank co-operation, I don't think there is any doubt about that | :12:03. | :12:04. | |
because this is the fourth quarter in the United States where the | :12:05. | :12:09. | |
quality of earnings have fallen. Easily the worst performing sector | :12:10. | :12:13. | |
is banking and I wanted to highlight Goldman Sachs because everybody will | :12:14. | :12:16. | |
say, well, you know, it is not terribly good, but actually when you | :12:17. | :12:21. | |
consider that their share price a year ago was $186, today, it is | :12:22. | :12:26. | |
$186. They had a desperate first quarter, but there was a $2.7 | :12:27. | :12:31. | |
billion fine for litigation which they haven't got that time. But the | :12:32. | :12:37. | |
fee earning from M and A activity, which of course, they blame on | :12:38. | :12:43. | |
Brexit, was down by 18% to 1.35 million, earnings per share was up | :12:44. | :12:50. | |
from 97 cents, sorry, a dollar 97 to 372. Shares fell 2% because | :12:51. | :12:55. | |
everybody went, "OK." The reason I'm mentioning it is because look over | :12:56. | :12:59. | |
your shoulder into Europe and particularly Italy and also Germany | :13:00. | :13:03. | |
and Spain, all is not well. Away from the corporate news, economic | :13:04. | :13:07. | |
news, unemployment figures in the UK, it is expected to stay steady, | :13:08. | :13:12. | |
but we will be keeping an eye on the earnings figure because that's the | :13:13. | :13:15. | |
bit that means we will have a bit more money in our pocket? We might | :13:16. | :13:21. | |
just see a slight slither down because of the effect of Brexit and | :13:22. | :13:24. | |
people not being prepared to employ ahead of the results. These things | :13:25. | :13:31. | |
are always in the past or rather historical so maybe above 1.6 | :13:32. | :13:34. | |
million. Thank you, David. David will be back later. He has got lots | :13:35. | :13:38. | |
of issues to tackle including the naming and shaling of those who owe | :13:39. | :13:41. | |
money on billboards. We will talk about that later! | :13:42. | :13:50. | |
It is the size of a small coffee machine, but it can diagnose HIV in | :13:51. | :13:54. | |
two hours. You're with Business Live from BBC | :13:55. | :14:01. | |
News. When is a worker not a worker? It is | :14:02. | :14:07. | |
an important legal question that's being grappled with in an employment | :14:08. | :14:15. | |
tribunal today. It involves Uber the taxi hailing app. It has shaken up | :14:16. | :14:19. | |
the taxi business across the world and its cars carry the Uber brand | :14:20. | :14:24. | |
but the drivers are self-employed. A group of 17 drivers backed by the | :14:25. | :14:28. | |
GMB Union are claiming the American company is not respecting basic | :14:29. | :14:32. | |
workers' rights. They say that drivers should receive holiday pay | :14:33. | :14:39. | |
and a minimum wage. Theo Leggett is in our business newsroom. Just talk | :14:40. | :14:44. | |
us through, it is a really controversial issue? | :14:45. | :14:49. | |
the fundamental thing is, is Uber a technology company or a transport | :14:50. | :14:55. | |
company. It might seem like a strange distinction but it's not | :14:56. | :14:58. | |
because of Uber is our technology company, need to which connects | :14:59. | :15:03. | |
customers with drivers. Those drivers can then be considered | :15:04. | :15:06. | |
self-employed so they don't have certain employment rights like an | :15:07. | :15:08. | |
entitlement to the national minimum wage, holiday pay, sick pay and so | :15:09. | :15:14. | |
forth. But if Uber is a technology company, then they don't have those | :15:15. | :15:16. | |
rights. It's a complicated issue and rights. It's a complicated issue and | :15:17. | :15:20. | |
one that is Uber is fighting not just in the UK but around the world. | :15:21. | :15:25. | |
How significant is it for Uber that the drivers ourselves and void? As I | :15:26. | :15:30. | |
said, it means it is effectively cheaper for them to offer the | :15:31. | :15:34. | |
service. If it has to pay the national minimum wage and benefits, | :15:35. | :15:39. | |
that increases its bottom line so it has to pay more. It can't offer as | :15:40. | :15:44. | |
cheap service. Uber's selling point is that it is cheap convenience. | :15:45. | :15:48. | |
It's a key point but not just for Uber. It affects other businesses | :15:49. | :15:53. | |
that operate in a similar model. For example, parcel delivery services | :15:54. | :15:57. | |
operate a similar model in some cases where the drivers are | :15:58. | :15:59. | |
effectively self and void. If it goes against Uber, they might be | :16:00. | :16:03. | |
next in the firing line. -- self-employed. Thank you for joining | :16:04. | :16:08. | |
us. Yellow gets talking through the implications of that lawsuit into | :16:09. | :16:14. | |
Uber. -- Theo Leggatt. It could set a prospect for other comp -- a | :16:15. | :16:18. | |
precedent for other Company is around the world. Let's take you to | :16:19. | :16:21. | |
the web page because a lot of stories on there that we have | :16:22. | :16:25. | |
already covered on the programme including UK jobs figures due later. | :16:26. | :16:29. | |
Also, if you are planning to travel by Eurostar, information about | :16:30. | :16:33. | |
today's disruption on the business live page so look there for updates, | :16:34. | :16:34. | |
as well as their own website. Donald Trump has been unveiled as | :16:35. | :16:47. | |
the public nominee for the US president. He has vowed to protect | :16:48. | :16:50. | |
the country from cheap imports and has also announced he will slash tax | :16:51. | :16:55. | |
bills if he is voted into power. A long way to go yet. | :16:56. | :16:57. | |
A quick look at how markets are faring. | :16:58. | :17:02. | |
All in the green which makes the change but keeping and I them in the | :17:03. | :17:07. | |
next 45 minutes, when we get the latest jobs figures in the UK that | :17:08. | :17:08. | |
could affect them. Let's get the Inside Track | :17:09. | :17:10. | |
on the battle to stop the spread Yes, when it comes to tackling | :17:11. | :17:13. | |
epidemics, it's certainly true that Following a successful | :17:14. | :17:17. | |
career working at a global pharmaceutical company, | :17:18. | :17:23. | |
Dr Helen Lee moved into academia. In 2002, she founded | :17:24. | :17:25. | |
her medical company, Diagnostics For The Real World, | :17:26. | :17:29. | |
which aims to commercialise the technologies developed | :17:30. | :17:33. | |
at Cambridge University. The company works with medical | :17:34. | :17:37. | |
charities around the world, and retains up to 15% of the profits | :17:38. | :17:40. | |
generated from her inventions. Last month, she won | :17:41. | :17:44. | |
the prestigious Popular Prize at the European Inventor Awards | :17:45. | :17:47. | |
for her ground-breaking device. The so-called Samba device | :17:48. | :17:51. | |
is the size of a small coffee machine and can diagnose HIV | :17:52. | :17:54. | |
in under two hours at a cost That is the thing that could make it | :17:55. | :17:59. | |
so worthwhile. With us is Dr Helen Lee, | :18:00. | :18:11. | |
Chief Executive, Diagnostics It is a real pleasure to have you on | :18:12. | :18:21. | |
the programme. We can see the machine rights next EU. Talk us | :18:22. | :18:26. | |
through how it works. Usually, this particular test would take a machine | :18:27. | :18:32. | |
the size of a Mini, and it can only be done in centralised laboratories. | :18:33. | :18:37. | |
The idea is to reduce the size, such that it can be carried on the back | :18:38. | :18:41. | |
of a motorbike. That is in our design goals. The chemicals are heat | :18:42. | :18:49. | |
stable and do not require cold storage or cold transport. Other | :18:50. | :18:54. | |
agents, something like 88 reagents, are put into a unique cartridge, and | :18:55. | :19:00. | |
that can only go one way, and you couldn't get it wrong. So you can | :19:01. | :19:05. | |
put this in the middle of an African village in the heat and the dust and | :19:06. | :19:08. | |
it would still work effectively and you don't need anyone with any | :19:09. | :19:14. | |
medical knowledge to work this device. Those who live in the | :19:15. | :19:19. | |
village can do it themselves. It is so simple. I always say, anyone who | :19:20. | :19:24. | |
can cook can do it, obviously that leaves half of the men out! We will | :19:25. | :19:28. | |
get a reaction to that comment straightaway! | :19:29. | :19:32. | |
I not getting involved but the interesting and important thing is | :19:33. | :19:35. | |
the idea that currently, without this machine or one like it, people | :19:36. | :19:39. | |
have to travel quite a long way to get to a clinic. They would go and | :19:40. | :19:42. | |
have a blood test and the requirement would be that they have | :19:43. | :19:45. | |
to go back several weeks later to get the results. 70% of people don't | :19:46. | :19:49. | |
do that. Whereas with this, they could do it immediately and get the | :19:50. | :19:54. | |
results straightaway and take the appropriate action immediately. | :19:55. | :19:59. | |
Exactly. The question is, this is fantastic, the provision of this and | :20:00. | :20:05. | |
I understand it's a question of government and non-government | :20:06. | :20:07. | |
organisations and charities that are helping this be available in | :20:08. | :20:11. | |
developing countries but what about the care and the help that they need | :20:12. | :20:16. | |
when they have got the diagnosis? That is the problem. Years, as proud | :20:17. | :20:22. | |
as I am of this machine, it is only a tool. -- yes. Unless it is linked | :20:23. | :20:27. | |
to care and appropriate care, you will not have the whole chain. The | :20:28. | :20:32. | |
idea and the goal is really to treat people effectively. I must say, it | :20:33. | :20:36. | |
is already being used in villages in Malawi and Uganda. More than 90% of | :20:37. | :20:42. | |
the results are given to the people on the same day. I see these women | :20:43. | :20:49. | |
and children sitting on the lawn because there is no waiting room and | :20:50. | :20:55. | |
I don't know how they get there. I don't see any buses. It is very | :20:56. | :20:57. | |
critical to give them the results and appropriate care at the same | :20:58. | :21:08. | |
time. What I think will be critical is to implement it in many | :21:09. | :21:12. | |
countries, linking it to the appropriate drugs, and to that | :21:13. | :21:16. | |
extent, we have so far raised almost 100 million euros for the | :21:17. | :21:19. | |
development of this machine from charitable organisations like the | :21:20. | :21:27. | |
welcome trust and the UN's children's investment fund. But I | :21:28. | :21:29. | |
think much more funding will still be necessary to really implement it | :21:30. | :21:34. | |
for the benefit of the patients. Thank you for joining us. It is a | :21:35. | :21:39. | |
fantastic machine and quite light. I picked it up. I can imagine trekking | :21:40. | :21:43. | |
across large areas with that in a backpack or something. And attic. | :21:44. | :21:48. | |
May I just say, it is really the work of the team, like Leicester! | :21:49. | :21:55. | |
Wonderful. Do you cook? I do. I'm not part of | :21:56. | :21:59. | |
that 50%. Thought we had better establish | :22:00. | :22:00. | |
that. It's been a busy time for earnings, | :22:01. | :22:08. | |
including Microsoft, swinging back to profit. All as a result of it | :22:09. | :22:11. | |
Cloud compute in business. Quarterly profits came | :22:12. | :22:12. | |
in at $3.1 billion, reversing the $3 billion losss in the same | :22:13. | :22:14. | |
period last year. When Satya Nadella took over | :22:15. | :22:17. | |
at Microsoft two years ago he said the future of the company | :22:18. | :22:25. | |
was in Cloud computing services. That strategy seems to be paying off | :22:26. | :22:29. | |
with the latest results beating Revenue from Microsoft's Cloud | :22:30. | :22:32. | |
services have grown by 100% in the last three months | :22:33. | :22:40. | |
and subscription sales of the Office software suite have been strong, | :22:41. | :22:44. | |
adding up to a $3.1 billion profit This time last year, | :22:45. | :22:47. | |
he was telling investors the company had lost $3.2 billion | :22:48. | :23:02. | |
thanks to its disappointing acquisition of Nokia's | :23:03. | :23:04. | |
mobile phone business. With that deal behind the company, | :23:05. | :23:05. | |
last month Nadella made his biggest gamble yet, spending $26 billion | :23:06. | :23:08. | |
on the business social The company is expected | :23:09. | :23:11. | |
to integrate the service with its own business products soon, | :23:12. | :23:14. | |
further boosting its Cloud division. There was one note of caution | :23:15. | :23:20. | |
from Microsoft, however. It admitted it would probably | :23:21. | :23:22. | |
miss its target of 1 billion devices David Buik, Market Strategist, | :23:23. | :23:25. | |
Panmure Gordon - is back I understand you make a killer | :23:26. | :23:41. | |
scrambled eggs. Not a lot bettered in the realm. I'm not normally | :23:42. | :23:44. | |
arrogant about this but they are the best and I always make a blinding | :23:45. | :23:48. | |
spaghetti Bolognese. Can you run shuts scrambled egg in time for | :23:49. | :23:52. | |
Business Live, we can get it on the table? Bring the ingredients. Lets | :23:53. | :23:59. | |
not talk about eggs but excessive pay, see what I did there? Vowing to | :24:00. | :24:06. | |
clamp down on it. Now the backing of a big hedge funds. It's interesting | :24:07. | :24:11. | |
point. She was very exposed about this in what I thought was an | :24:12. | :24:13. | |
excellent delivery on Downing Street. I think she really means it. | :24:14. | :24:19. | |
What we need to do, as you pointed out before, is the coordination of | :24:20. | :24:26. | |
boards, whether they have workers, members, women on it, and also, | :24:27. | :24:30. | |
trade union membership and the rest of it because we have to close the | :24:31. | :24:33. | |
pay gap between those that have and those that have not. I think it is | :24:34. | :24:38. | |
extremely important. But without the full coordination, it's not going to | :24:39. | :24:43. | |
work. The other thing I think people tend to forget, there's a huge | :24:44. | :24:46. | |
difference between being a manager that manages a business and an | :24:47. | :24:49. | |
entrepreneur, who has built the business up from nothing. It takes | :24:50. | :24:53. | |
some unlike Sir Martin Sorrell. People resent his ?70 million bonus | :24:54. | :24:57. | |
this year but I don't because it is his business, it has 132 companies | :24:58. | :25:01. | |
in it he's built it up in the last 35 years from scratch. What about | :25:02. | :25:06. | |
Bob Dudley at BP? You've chosen another bad one that I would support | :25:07. | :25:10. | |
because politically, what he has done, staving off the problems in | :25:11. | :25:13. | |
Russia and the US, he is worth his weight in gold but if you want me to | :25:14. | :25:19. | |
go on to someone else, there's a big problem with money elsewhere. 'S | :25:20. | :25:25. | |
bashing billboards with the names of the deadbeat debtors. This is the | :25:26. | :25:29. | |
title in China Daily which is the state-sponsored newspaper. -- | :25:30. | :25:39. | |
splashing. It is not necessarily individual 's but companies that own | :25:40. | :25:42. | |
mind. Is it a good idea question mark Diskerud especially when the | :25:43. | :25:45. | |
small supplier is greed by the large company which makes it wait until it | :25:46. | :25:51. | |
pays off and squeezes it out of business. Totally unacceptable but | :25:52. | :25:53. | |
he would never get it through this country and the Court of Human | :25:54. | :25:56. | |
Rights and all the rest of it would have their big boots all over it. | :25:57. | :25:59. | |
But I think it's a lovely idea. Thank you for joining us. See you | :26:00. | :26:02. | |
again soon, scrambled egg on toast next time he is with us. That is | :26:03. | :26:06. | |
Business Live. Heat and unity going out with a bang | :26:07. | :26:14. | |
across northern and western areas after what was the hottest day of | :26:15. | :26:17. | |
the year so far yesterday with | :26:18. | :26:18. |