:00:13. > :00:25.This is Business Life. Amazon gets the UK, a landmark deal that could
:00:26. > :00:27.revolutionise the way we shop. It is what we will be droning on about on
:00:28. > :00:48.Tuesday the 26th of July. His science fiction about to become
:00:49. > :00:56.business fax? The retail giant Harmison world test B testing drains
:00:57. > :01:00.in the UK to deliver parcels to your door. Eddie Chambers so the current
:01:01. > :01:06.rules, drones will be allowed to fly out of sight of the operator. Third
:01:07. > :01:08.time lucky for the creation of a superstar market to rival the
:01:09. > :01:13.US and Asia? We will find out if German
:01:14. > :01:20.go-ahead to merge with the London stock exchange. We will have the
:01:21. > :01:21.details of the markets, and assess what is
:01:22. > :01:25.moving the numbers stop larger central banks
:01:26. > :01:29.printing money, later in the programme we will speak to the boss
:01:30. > :01:37.of the Royal Mint. 1100 year old country, manufacturing cash for
:01:38. > :01:39.dozens of countries around the world.
:01:40. > :01:47.Starbucks introduces a new dress code., dark colours and playing
:01:48. > :01:49.patterns are in, bright colours are out. Are you a fan of work dress
:01:50. > :01:50.code? I meet the dress code, you do not
:01:51. > :02:12.text Mac get in touch. Was not the programme with the skies
:02:13. > :02:16.above our heads. They can start getting busier. The
:02:17. > :02:23.retail giant Amazon has agreed a deal with the UK
:02:24. > :02:25.Government to start testing the use of drones to deliver parcels to your
:02:26. > :02:31.front door. Heung-Min Son wants to examine how hundreds of
:02:32. > :02:35.robotic aircraft could buzz around our skies safely. It could
:02:36. > :02:36.eventually mean small parcels arrive at
:02:37. > :02:42.just 30 minutes of ordering them online.
:02:43. > :02:46.Ministers say it will pave the way for all businesses to start using
:02:47. > :03:36.the technology in the future. It sounds like something
:03:37. > :03:39.out of Harry Potter, thousands of parcels being flown
:03:40. > :03:42.through the air then dropped off But drones delivering your shopping
:03:43. > :03:53.could eventually be What this is about is working out
:03:54. > :03:56.how to do it safely. Are we going to need
:03:57. > :03:58.new laws, for example? And, of course, they are going to be
:03:59. > :04:03.going over people's gardens, How can you guarantee
:04:04. > :04:08.they won't fall out of the sky? There are going to be people
:04:09. > :04:29.who just don't fancy the idea. we need a broader societal
:04:30. > :04:35.discussion, not just the government and Harmison getting in a huddle for
:04:36. > :04:39.the sake of the economy. The sky is the limit for drilling technology,
:04:40. > :04:47.if they can convince people it is private and safe. Let's stay with
:04:48. > :04:53.this, David Lane is a professor of autonomous systems at the University
:04:54. > :04:57.of Edinburgh. Great to have you on the programme.
:04:58. > :05:04.Seriously, do you honestly believe this will become a reality? You
:05:05. > :05:06.think about the safety and air regulations this will have to get
:05:07. > :05:14.through? It is likely to be a reality, it is
:05:15. > :05:23.happening. Not just Harmison, Google, DHL, also in China.
:05:24. > :05:27.Fantastic that the UK has been chosen by hammers on as the place to
:05:28. > :05:32.come. We have the best regulatory environment. Give me a timescale,
:05:33. > :05:38.I'm in central London, when will I get a package in 30 minutes. Not for
:05:39. > :05:43.me to say how long it will take to adapt the regulations. It will not
:05:44. > :05:48.be tomorrow. Quite a bit of testing there has to be done, the
:05:49. > :05:55.technology, also the wider societal discussion with people. It strikes
:05:56. > :06:01.me that the important thing to day was a deal with the UK Government.
:06:02. > :06:04.Landmark agreement, drones will be able to fly out of the line of sight
:06:05. > :06:09.of the operator. Very strict rules at the moment. That is the most
:06:10. > :06:18.significant thing. The government has said we are paired to allow you
:06:19. > :06:24.to do this. -- we are prepared. That is why it have come here. They
:06:25. > :06:32.cannot do this in the US. We can win market share for this technology,
:06:33. > :06:37.good for universities and business. I have had comments on running this
:06:38. > :06:40.story, it is a current theme around the world, terrorists getting their
:06:41. > :06:45.hands on drones. If they are hands on drones. If they are
:06:46. > :06:52.permitted to fly over our heads who is to say a terrorist cannot get
:06:53. > :06:57.hold of it and use it as a weapon? Terrorists can get hold of bull
:06:58. > :07:00.source weapons already. Nothing new in that. Certainly security of
:07:01. > :07:02.locations about the way the drones are
:07:03. > :07:07.configured, how you access the software, how you drive them. All
:07:08. > :07:12.things considered as part of the test ). These things will not be in
:07:13. > :07:16.the streets, working for us tomorrow. I'm sure there is a
:07:17. > :07:25.serious test programme before that happens. We appreciate your time. I
:07:26. > :07:31.would love to see the difference between costs, drones delivery. I
:07:32. > :07:41.guess a drone would be Cheaper. That means the driver is
:07:42. > :07:48.gone, job wise. We will talk about that later. The Frank
:07:49. > :08:00.reveal this results of a stock exchange merger with the London
:08:01. > :08:10.stock exchange. with rival the US and Asia. Oil
:08:11. > :08:16.prices have fallen. A three-month loan, growing concerns of the
:08:17. > :08:26.oversupply of crude and natural gas. US oil fell 25%. 43 bucks a barrel.
:08:27. > :08:33.Falling by 12% this year. Brent crude percent. You can buy a barrel
:08:34. > :08:39.for $43. The lowest level since the 10th of May. Using low oil prices
:08:40. > :08:42.would be good news for car-makers. General Motors has stalled a planned
:08:43. > :08:52.$1 billion investment in India while assessing the strategy in the
:08:53. > :08:54.country. New rules on diesel vehicles have led the company to
:08:55. > :09:01.rethink plans, 5000 new cars are sold in India every day. The
:09:02. > :09:09.third-largest car market in the world by 2020. Let's take in Asia.
:09:10. > :09:15.The economy of Nepal has been thrown into turmoil again after the
:09:16. > :09:20.resignation of Prime Minister, ahead of a no-confidence vote. Nepal is
:09:21. > :09:28.set to get his ninth from Minister in just ten years. Alicea following
:09:29. > :09:31.the story from Singapore. This is made more difficult, the country
:09:32. > :09:35.trying to rebuild after the devastating earthquake. Exactly
:09:36. > :09:41.that, a thousand people killed, they are trying to push
:09:42. > :09:46.forward reconstruction spending. Turmoil in the government can
:09:47. > :09:55.Nepal is one of the world's poorest economies.
:09:56. > :09:59.You wonder whether this instability will continue to hinder the
:10:00. > :10:01.country's progress. The Prime Minister resign ahead of a
:10:02. > :10:10.no confidence vote. Analysts expect the instability to
:10:11. > :10:14.continue for at least another year. We're
:10:15. > :10:16.having two countries jostling for influence we have the Cabinet, China
:10:17. > :10:22.and India. Geographically Nepal is in the
:10:23. > :10:26.middle of the two. The countries want to have more say in control of
:10:27. > :10:34.the 28 million people, as well as the fact Nepal sits on a very
:10:35. > :10:40.significant energy route. China is the biggest investor. India the
:10:41. > :10:46.biggest trading partner. With this resignation, India may win more
:10:47. > :10:53.influence of the government. Thank you for staying across that. Quick
:10:54. > :11:00.look at the numbers. Tokyo shares down for a third straight session to
:11:01. > :11:10.date. The yen rally worrying investors. We will touch on that
:11:11. > :11:15.later. There are US and Japanese central bank meetings, we may see
:11:16. > :11:23.action to kick-start sluggish growth. Brent crude up, $44, down of
:11:24. > :11:33.late. A pretty mixed session in Europe, the FT-SE 100 sliding back.
:11:34. > :11:39.Up about a quarter so far today. Let's heads stateside. We have the
:11:40. > :11:57.details about the day ahead in Wall Street. More news coming from
:11:58. > :12:02.Verizon, head of purchase of Yahoo. Labour costs will increase, that may
:12:03. > :12:11.weigh on their earnings. Reported earnings from Apple and Batth. Apple
:12:12. > :12:16.painting a gloomy picture back in April, forecasting a weak quarter.
:12:17. > :12:21.Analysts unsure whether the soon-to-be-released iPhones seven
:12:22. > :12:27.can reinvigorate sales in the second half of 2016. As for Twitter, that
:12:28. > :12:34.is their biggest challenge, stagnating user growth. The CEO
:12:35. > :12:48.wanting to enrolment new users through live video, tweaks to the
:12:49. > :12:58.length of tweets. The managing director of Pimlico joins us. For a
:12:59. > :13:04.UK audience, you know they know what you are talking about. For the world
:13:05. > :13:19.audience, talking about BT and Ofcom. It is the bit that installs
:13:20. > :13:26.the cables, and the bit that sells it. The national operator has this
:13:27. > :13:31.infrastructure, being used to provide broadband services. The
:13:32. > :13:35.issue is how much is opened up to competition. How much investment
:13:36. > :13:40.they put into that particular part of their operation. A list of
:13:41. > :13:44.tension between BT and competitors. Competitors pushing for a full
:13:45. > :13:49.separation of the infrastructure and provision of service. At the moment
:13:50. > :13:56.Ofcom once a formal separation of the two entities, still within BT.
:13:57. > :14:00.Trying to put pressure on BT. Hopefully this will alleviate the
:14:01. > :14:06.complaints of some of the other companies, being tough on
:14:07. > :14:11.competition. We will talk about the papers later. For now, thanks. Still
:14:12. > :14:16.to come secrecy, the name of the game for the UK's Royal Mint. We
:14:17. > :14:21.will hear why silence is golden. I don't think the coins are golden.
:14:22. > :14:30.You are with Business Live. Natwest and Royal Bank of Scotland
:14:31. > :14:32.have warned business customers they may be charged for depositing
:14:33. > :14:34.money in accounts, due If enacted, the move would make them
:14:35. > :14:47.the first UK banks to introduce negative interest rates which,
:14:48. > :14:49.in effect, means they'd be charged Theo Leggett is
:14:50. > :15:04.following this for us. This is interesting, there are other
:15:05. > :15:09.countries, I can think of Japan, with negative interest rates?
:15:10. > :15:13.Yes, Sweden, the European Central Bank has even done it for some
:15:14. > :15:17.deposit. The point about this is low interest rates are not particularly
:15:18. > :15:21.good for banks in terms of profitability. There is a lot of
:15:22. > :15:25.talk about interest rates in the United Kingdom going lower because
:15:26. > :15:29.of what happened on June the 23rd, the EU referendum. It has had
:15:30. > :15:34.certain effects on the UK economy and there is lots of speculation
:15:35. > :15:41.that the Bank of England may choose to drop interest rates from 0.5% to
:15:42. > :15:44.0.25% in August, potentially going lower. What NatWest and the Royal
:15:45. > :15:47.Bank of Scotland have said is that their commercial customers may be
:15:48. > :15:53.asked to paper the privilege of depositing money with those banks if
:15:54. > :15:57.interest rates go to low but we can interpret this as a warning that
:15:58. > :16:02.they would not like to see interest rates in the UK falling Tullo. So it
:16:03. > :16:06.is not something that is necessarily going to happen, it is preparing the
:16:07. > :16:10.way of saying, this is what we would have to do if interest rates in the
:16:11. > :16:12.country go to low. Great stuff as always, we will talk
:16:13. > :16:14.to you soon. Sir Philip Green is threatening
:16:15. > :16:17.to take legal action against Frank Field,
:16:18. > :16:19.after the Labour MP criticised him Lawyers acting for the businessman
:16:20. > :16:25.have given Mr Field 24 hours to apologise for comparing
:16:26. > :16:31.Sir Philip to the late media tycoon Robert Maxwell,
:16:32. > :16:42.who took millions from A bit more on that BT news that we
:16:43. > :16:46.were discussing, Openreach, the part that installs the wires and cables,
:16:47. > :16:50.should become a distinct company, says the regulator, but has resisted
:16:51. > :16:54.calls to split it off entirely. It says Richard have separate staff, a
:16:55. > :16:59.separate board and separate branding, all designed to avoid
:17:00. > :17:00.additional cost or disruption to consumers. Full details on our
:17:01. > :17:16.website. Our top story is drones. Amazon has
:17:17. > :17:22.been given the green light to test, from UK Government, to test services
:17:23. > :17:27.that deliver their parcel. You are doing really well!
:17:28. > :17:32.I have been doing it all morning! To deliver parcels to the house, they
:17:33. > :17:36.say, 30 minutes after ordering. I still want to know what happens if
:17:37. > :17:41.you live in a flat. A quick recap of the market in the
:17:42. > :17:50.first 45 minutes of trade, pretty flat across mainland Europe.
:17:51. > :17:52.How would you like a licence to print money?
:17:53. > :18:00.Each year, the UK's Royal Mint makes currencies for dozens
:18:01. > :18:03.of countries around the world, but it's not allowed to disclose
:18:04. > :18:05.many of its international clients for security reasons.
:18:06. > :18:09.But the use of notes and coins has been in decline as more of us switch
:18:10. > :18:16.Last year in the UK, electronic payments outnumbered cash
:18:17. > :18:23.The Royal Mint has been making coins for hundreds of years.
:18:24. > :18:26.In 2014, it launched its bullion trading website, which allows
:18:27. > :18:29.investors to buy and sell gold coins and bars.
:18:30. > :18:32.Gold is seen as a safe haven - somewhere to put your money
:18:33. > :18:48.We're joined by Adam Lawrence, chief executive of the Royal Mint.
:18:49. > :18:56.1100 years old, right? You are looking good! Welcome to the
:18:57. > :19:03.programme, good to have you with us. So many questions. Let's start with
:19:04. > :19:08.that, this cashless society that we are becoming. That has got to hamper
:19:09. > :19:15.your business? The death of cash is predicted but we are not there yet,
:19:16. > :19:20.we will not be that for a long time. The volume in the UK and many
:19:21. > :19:22.overseas markets has actually been increasing, so the number of
:19:23. > :19:29.transactions has been decreasing but the volume has been going up for us.
:19:30. > :19:33.Some will think of the Royal Mint, in charge of making the money year
:19:34. > :19:44.in the UK, but I know you cannot say, but there are lots, the tie
:19:45. > :19:47.but, right? We make some of the blanks for Thailand, the coin before
:19:48. > :19:51.it has the head and tail on it, and we make them for many other
:19:52. > :19:55.countries, usually about 50 countries every year. Speaking of
:19:56. > :19:59.the coins, one thing that interests me is the counterfeit coins,
:20:00. > :20:03.staggering numbers of counterfeit ?1 coins, so much so that you are
:20:04. > :20:07.introducing a new one next year with 12 side and that sort of thing? How
:20:08. > :20:19.do you stay one step ahead of the fraudster? It is a difficult task
:20:20. > :20:22.but we have brand-new high security features, which I cannot talk about
:20:23. > :20:25.for obvious reasons but it is cutting edge and will allow us to
:20:26. > :20:27.have a binary is it real or not? The great thing with the ?1 coin, we
:20:28. > :20:30.have some overseas customers as well. Looking at those pictures, the
:20:31. > :20:35.little piece of metal, if you will, and we have seen commodity prices go
:20:36. > :20:40.all over the place, lots of them down, and the prices of metal, does
:20:41. > :20:44.that affect your business? Because ?1 is ?1, right? It affects
:20:45. > :20:50.customers' decisions about whether to make new coins and what materials
:20:51. > :20:54.they might use. Hopper is used a lot in coins, if they go up it might
:20:55. > :20:59.mean people change. It provides an opportunity for us to introduce new
:21:00. > :21:04.styles of coins with the -- like with the 5p and 10p a few years ago,
:21:05. > :21:08.predominantly nickel, which saves the taxpayer money. One thing I want
:21:09. > :21:13.to know, these commemorative coins for weddings and birds, that sort of
:21:14. > :21:17.thing, are they worth the? Of course they are! They are commemorative
:21:18. > :21:21.products for people who want to keep them as a keepsake and I think for
:21:22. > :21:26.the people who buy them there is inherent value in what they are
:21:27. > :21:30.buying it for. We have been told to wrap it up! As an Aussie, how do you
:21:31. > :21:35.become the big boss of the Royal Mint?! I had a pharmaceutical
:21:36. > :21:39.background before this, finance, moved here, it is a fantastic
:21:40. > :21:43.organisation, I was given the opportunity five years ago and I've
:21:44. > :21:50.loved every moment of it. From drug making it a moneymaking! Great!
:21:51. > :21:57.We appreciated, thank you very much -- from drug making to moneymaking.
:21:58. > :22:00.They say you have to dress for success in the modern world.
:22:01. > :22:03.In a moment we will be talking about Starbucks' new dress code,
:22:04. > :22:06.but first let's hear about the do's and don'ts for today's business
:22:07. > :22:07.leaders from Designer and tailor Ozwald Boateng.
:22:08. > :22:11.A lot of CEOs don't get the power image, and they don't get the power
:22:12. > :22:14.of their own brand that they work for, so I find sometimes a lot
:22:15. > :22:18.Are they a bit afraid to express themselves fully?
:22:19. > :22:21.They're thinking about their company's brand and reputation?
:22:22. > :22:24.Some of them have an awareness, and they think, "I need to dress
:22:25. > :22:27.a certain way," and I've experienced it when they say, "I don't
:22:28. > :22:33.I say, "That is really anti what I do!"
:22:34. > :22:39.You don't necessarily have to wear a suit,
:22:40. > :22:43.but you have to be consistent in whatever that image is.
:22:44. > :22:47.So, you had Steve Jobs always wearing a black rollneck.
:22:48. > :22:55.If you're wearing clothes where you're confident in them
:22:56. > :23:00.and you're enjoying them, that will reflect in the way
:23:01. > :23:06.You have got to feel good about yourself, and when that's
:23:07. > :23:13.happened, that radiates through who you are in your personality.
:23:14. > :23:21.As promised, Mike is back. Let's start with the Starbucks dress code
:23:22. > :23:25.story, lots of tweets coming in. One example, all dress code is a
:23:26. > :23:29.side-effect of power hungry management who think they are more
:23:30. > :23:35.important than they are! Keep those comments coming in. Your
:23:36. > :23:38.thoughts on it? What is interesting about the Starbucks one, they
:23:39. > :23:42.already had a dress code but now there are certain dos and don'ts,
:23:43. > :23:45.and some are surprising, particularly the headgear. The ones
:23:46. > :23:49.on the left are what you can buy, the ones on the right you can't. You
:23:50. > :23:55.would not want a tiger print fedora, for example?! We don't have those in
:23:56. > :24:02.our office either, so I agree with that! Baseball caps are not that
:24:03. > :24:05.prevalent, either! Is that right, in today's society? Starbucks is an
:24:06. > :24:12.internationally recognised brand, you want to make sure people feel
:24:13. > :24:15.comfortable working for them and if you pigeonhole them too much you
:24:16. > :24:20.reduce the appeal of working for them, so I think that is what they
:24:21. > :24:23.are trying to do. I gather it is a 15 page document so I the spec there
:24:24. > :24:31.are some quite entertaining pieces in their! Do you have dress down
:24:32. > :24:38.Friday in the office? We do. What is that, in the city, just taking off
:24:39. > :24:46.that I? More or less! But during the summer months we have something more
:24:47. > :24:57.casual. To be honest, if you were on the tube, just taking your tie off
:24:58. > :25:00.makes a big difference! Let's turn our attention to this
:25:01. > :25:08.55,000,000-dollar payoff the Stephanie Meyer, this was yesterday.
:25:09. > :25:16.An amazing number, are pretty staggering payoff. This is a
:25:17. > :25:20.challenge we see everywhere at the moment, levels of pay, and the
:25:21. > :25:25.clarity around it, to be fair to her, the Yahoo stock price has gone
:25:26. > :25:32.up so to some degree she has put a lot of money there for the
:25:33. > :25:37.shareholders, largely on the Alibaba part, so this has crystallised in a
:25:38. > :25:42.short space of time. And Alibaba is crucially not involved in the sale.
:25:43. > :25:49.Hanging onto that one. So it should be seen as a success? The price has
:25:50. > :25:54.gone up by 150%, so, on that basis, to some degree she has done
:25:55. > :25:58.something right but clearly is doing well with those numbers.
:25:59. > :26:02.But to see you, that is it from us, we will be back tomorrow, same time,
:26:03. > :26:05.same place. Have a good day, goodbye.