Browse content similar to 26/07/2016. Check below for episodes and series from the same categories and more!
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This is Business Life. Amazon gets the UK, a landmark deal that could | :00:13. | :00:25. | |
revolutionise the way we shop. It is what we will be droning on about on | :00:26. | :00:27. | |
Tuesday the 26th of July. His science fiction about to become | :00:28. | :00:48. | |
business fax? The retail giant Harmison world test B testing drains | :00:49. | :00:56. | |
in the UK to deliver parcels to your door. Eddie Chambers so the current | :00:57. | :01:00. | |
rules, drones will be allowed to fly out of sight of the operator. Third | :01:01. | :01:06. | |
time lucky for the creation of a superstar market to rival the | :01:07. | :01:08. | |
US and Asia? We will find out if German | :01:09. | :01:13. | |
go-ahead to merge with the London stock exchange. We will have the | :01:14. | :01:20. | |
details of the markets, and assess what is | :01:21. | :01:21. | |
moving the numbers stop larger central banks | :01:22. | :01:25. | |
printing money, later in the programme we will speak to the boss | :01:26. | :01:29. | |
of the Royal Mint. 1100 year old country, manufacturing cash for | :01:30. | :01:37. | |
dozens of countries around the world. | :01:38. | :01:39. | |
Starbucks introduces a new dress code., dark colours and playing | :01:40. | :01:47. | |
patterns are in, bright colours are out. Are you a fan of work dress | :01:48. | :01:49. | |
code? I meet the dress code, you do not | :01:50. | :01:50. | |
text Mac get in touch. Was not the programme with the skies | :01:51. | :02:12. | |
above our heads. They can start getting busier. The | :02:13. | :02:16. | |
retail giant Amazon has agreed a deal with the UK | :02:17. | :02:23. | |
Government to start testing the use of drones to deliver parcels to your | :02:24. | :02:25. | |
front door. Heung-Min Son wants to examine how hundreds of | :02:26. | :02:31. | |
robotic aircraft could buzz around our skies safely. It could | :02:32. | :02:35. | |
eventually mean small parcels arrive at | :02:36. | :02:36. | |
just 30 minutes of ordering them online. | :02:37. | :02:42. | |
Ministers say it will pave the way for all businesses to start using | :02:43. | :02:46. | |
the technology in the future. It sounds like something | :02:47. | :03:36. | |
out of Harry Potter, thousands of parcels being flown | :03:37. | :03:39. | |
through the air then dropped off But drones delivering your shopping | :03:40. | :03:42. | |
could eventually be What this is about is working out | :03:43. | :03:53. | |
how to do it safely. Are we going to need | :03:54. | :03:56. | |
new laws, for example? And, of course, they are going to be | :03:57. | :03:58. | |
going over people's gardens, How can you guarantee | :03:59. | :04:03. | |
they won't fall out of the sky? There are going to be people | :04:04. | :04:08. | |
who just don't fancy the idea. we need a broader societal | :04:09. | :04:29. | |
discussion, not just the government and Harmison getting in a huddle for | :04:30. | :04:35. | |
the sake of the economy. The sky is the limit for drilling technology, | :04:36. | :04:39. | |
if they can convince people it is private and safe. Let's stay with | :04:40. | :04:47. | |
this, David Lane is a professor of autonomous systems at the University | :04:48. | :04:53. | |
of Edinburgh. Great to have you on the programme. | :04:54. | :04:57. | |
Seriously, do you honestly believe this will become a reality? You | :04:58. | :05:04. | |
think about the safety and air regulations this will have to get | :05:05. | :05:06. | |
through? It is likely to be a reality, it is | :05:07. | :05:14. | |
happening. Not just Harmison, Google, DHL, also in China. | :05:15. | :05:23. | |
Fantastic that the UK has been chosen by hammers on as the place to | :05:24. | :05:27. | |
come. We have the best regulatory environment. Give me a timescale, | :05:28. | :05:32. | |
I'm in central London, when will I get a package in 30 minutes. Not for | :05:33. | :05:38. | |
me to say how long it will take to adapt the regulations. It will not | :05:39. | :05:43. | |
be tomorrow. Quite a bit of testing there has to be done, the | :05:44. | :05:48. | |
technology, also the wider societal discussion with people. It strikes | :05:49. | :05:55. | |
me that the important thing to day was a deal with the UK Government. | :05:56. | :06:01. | |
Landmark agreement, drones will be able to fly out of the line of sight | :06:02. | :06:04. | |
of the operator. Very strict rules at the moment. That is the most | :06:05. | :06:09. | |
significant thing. The government has said we are paired to allow you | :06:10. | :06:18. | |
to do this. -- we are prepared. That is why it have come here. They | :06:19. | :06:24. | |
cannot do this in the US. We can win market share for this technology, | :06:25. | :06:32. | |
good for universities and business. I have had comments on running this | :06:33. | :06:37. | |
story, it is a current theme around the world, terrorists getting their | :06:38. | :06:40. | |
hands on drones. If they are hands on drones. If they are | :06:41. | :06:45. | |
permitted to fly over our heads who is to say a terrorist cannot get | :06:46. | :06:52. | |
hold of it and use it as a weapon? Terrorists can get hold of bull | :06:53. | :06:57. | |
source weapons already. Nothing new in that. Certainly security of | :06:58. | :07:00. | |
locations about the way the drones are | :07:01. | :07:02. | |
configured, how you access the software, how you drive them. All | :07:03. | :07:07. | |
things considered as part of the test ). These things will not be in | :07:08. | :07:12. | |
the streets, working for us tomorrow. I'm sure there is a | :07:13. | :07:16. | |
serious test programme before that happens. We appreciate your time. I | :07:17. | :07:25. | |
would love to see the difference between costs, drones delivery. I | :07:26. | :07:31. | |
guess a drone would be Cheaper. That means the driver is | :07:32. | :07:41. | |
gone, job wise. We will talk about that later. The Frank | :07:42. | :07:48. | |
reveal this results of a stock exchange merger with the London | :07:49. | :08:00. | |
stock exchange. with rival the US and Asia. Oil | :08:01. | :08:10. | |
prices have fallen. A three-month loan, growing concerns of the | :08:11. | :08:16. | |
oversupply of crude and natural gas. US oil fell 25%. 43 bucks a barrel. | :08:17. | :08:26. | |
Falling by 12% this year. Brent crude percent. You can buy a barrel | :08:27. | :08:33. | |
for $43. The lowest level since the 10th of May. Using low oil prices | :08:34. | :08:39. | |
would be good news for car-makers. General Motors has stalled a planned | :08:40. | :08:42. | |
$1 billion investment in India while assessing the strategy in the | :08:43. | :08:52. | |
country. New rules on diesel vehicles have led the company to | :08:53. | :08:54. | |
rethink plans, 5000 new cars are sold in India every day. The | :08:55. | :09:01. | |
third-largest car market in the world by 2020. Let's take in Asia. | :09:02. | :09:09. | |
The economy of Nepal has been thrown into turmoil again after the | :09:10. | :09:15. | |
resignation of Prime Minister, ahead of a no-confidence vote. Nepal is | :09:16. | :09:20. | |
set to get his ninth from Minister in just ten years. Alicea following | :09:21. | :09:28. | |
the story from Singapore. This is made more difficult, the country | :09:29. | :09:31. | |
trying to rebuild after the devastating earthquake. Exactly | :09:32. | :09:35. | |
that, a thousand people killed, they are trying to push | :09:36. | :09:41. | |
forward reconstruction spending. Turmoil in the government can | :09:42. | :09:46. | |
Nepal is one of the world's poorest economies. | :09:47. | :09:55. | |
You wonder whether this instability will continue to hinder the | :09:56. | :09:59. | |
country's progress. The Prime Minister resign ahead of a | :10:00. | :10:01. | |
no confidence vote. Analysts expect the instability to | :10:02. | :10:10. | |
continue for at least another year. We're | :10:11. | :10:14. | |
having two countries jostling for influence we have the Cabinet, China | :10:15. | :10:16. | |
and India. Geographically Nepal is in the | :10:17. | :10:22. | |
middle of the two. The countries want to have more say in control of | :10:23. | :10:26. | |
the 28 million people, as well as the fact Nepal sits on a very | :10:27. | :10:34. | |
significant energy route. China is the biggest investor. India the | :10:35. | :10:40. | |
biggest trading partner. With this resignation, India may win more | :10:41. | :10:46. | |
influence of the government. Thank you for staying across that. Quick | :10:47. | :10:53. | |
look at the numbers. Tokyo shares down for a third straight session to | :10:54. | :11:00. | |
date. The yen rally worrying investors. We will touch on that | :11:01. | :11:10. | |
later. There are US and Japanese central bank meetings, we may see | :11:11. | :11:15. | |
action to kick-start sluggish growth. Brent crude up, $44, down of | :11:16. | :11:23. | |
late. A pretty mixed session in Europe, the FT-SE 100 sliding back. | :11:24. | :11:33. | |
Up about a quarter so far today. Let's heads stateside. We have the | :11:34. | :11:39. | |
details about the day ahead in Wall Street. More news coming from | :11:40. | :11:57. | |
Verizon, head of purchase of Yahoo. Labour costs will increase, that may | :11:58. | :12:02. | |
weigh on their earnings. Reported earnings from Apple and Batth. Apple | :12:03. | :12:11. | |
painting a gloomy picture back in April, forecasting a weak quarter. | :12:12. | :12:16. | |
Analysts unsure whether the soon-to-be-released iPhones seven | :12:17. | :12:21. | |
can reinvigorate sales in the second half of 2016. As for Twitter, that | :12:22. | :12:27. | |
is their biggest challenge, stagnating user growth. The CEO | :12:28. | :12:34. | |
wanting to enrolment new users through live video, tweaks to the | :12:35. | :12:48. | |
length of tweets. The managing director of Pimlico joins us. For a | :12:49. | :12:58. | |
UK audience, you know they know what you are talking about. For the world | :12:59. | :13:04. | |
audience, talking about BT and Ofcom. It is the bit that installs | :13:05. | :13:19. | |
the cables, and the bit that sells it. The national operator has this | :13:20. | :13:26. | |
infrastructure, being used to provide broadband services. The | :13:27. | :13:31. | |
issue is how much is opened up to competition. How much investment | :13:32. | :13:35. | |
they put into that particular part of their operation. A list of | :13:36. | :13:40. | |
tension between BT and competitors. Competitors pushing for a full | :13:41. | :13:44. | |
separation of the infrastructure and provision of service. At the moment | :13:45. | :13:49. | |
Ofcom once a formal separation of the two entities, still within BT. | :13:50. | :13:56. | |
Trying to put pressure on BT. Hopefully this will alleviate the | :13:57. | :14:00. | |
complaints of some of the other companies, being tough on | :14:01. | :14:06. | |
competition. We will talk about the papers later. For now, thanks. Still | :14:07. | :14:11. | |
to come secrecy, the name of the game for the UK's Royal Mint. We | :14:12. | :14:16. | |
will hear why silence is golden. I don't think the coins are golden. | :14:17. | :14:21. | |
You are with Business Live. Natwest and Royal Bank of Scotland | :14:22. | :14:30. | |
have warned business customers they may be charged for depositing | :14:31. | :14:32. | |
money in accounts, due If enacted, the move would make them | :14:33. | :14:34. | |
the first UK banks to introduce negative interest rates which, | :14:35. | :14:47. | |
in effect, means they'd be charged Theo Leggett is | :14:48. | :14:49. | |
following this for us. This is interesting, there are other | :14:50. | :15:04. | |
countries, I can think of Japan, with negative interest rates? | :15:05. | :15:09. | |
Yes, Sweden, the European Central Bank has even done it for some | :15:10. | :15:13. | |
deposit. The point about this is low interest rates are not particularly | :15:14. | :15:17. | |
good for banks in terms of profitability. There is a lot of | :15:18. | :15:21. | |
talk about interest rates in the United Kingdom going lower because | :15:22. | :15:25. | |
of what happened on June the 23rd, the EU referendum. It has had | :15:26. | :15:29. | |
certain effects on the UK economy and there is lots of speculation | :15:30. | :15:34. | |
that the Bank of England may choose to drop interest rates from 0.5% to | :15:35. | :15:41. | |
0.25% in August, potentially going lower. What NatWest and the Royal | :15:42. | :15:44. | |
Bank of Scotland have said is that their commercial customers may be | :15:45. | :15:47. | |
asked to paper the privilege of depositing money with those banks if | :15:48. | :15:53. | |
interest rates go to low but we can interpret this as a warning that | :15:54. | :15:57. | |
they would not like to see interest rates in the UK falling Tullo. So it | :15:58. | :16:02. | |
is not something that is necessarily going to happen, it is preparing the | :16:03. | :16:06. | |
way of saying, this is what we would have to do if interest rates in the | :16:07. | :16:10. | |
country go to low. Great stuff as always, we will talk | :16:11. | :16:12. | |
to you soon. Sir Philip Green is threatening | :16:13. | :16:14. | |
to take legal action against Frank Field, | :16:15. | :16:17. | |
after the Labour MP criticised him Lawyers acting for the businessman | :16:18. | :16:19. | |
have given Mr Field 24 hours to apologise for comparing | :16:20. | :16:25. | |
Sir Philip to the late media tycoon Robert Maxwell, | :16:26. | :16:31. | |
who took millions from A bit more on that BT news that we | :16:32. | :16:42. | |
were discussing, Openreach, the part that installs the wires and cables, | :16:43. | :16:46. | |
should become a distinct company, says the regulator, but has resisted | :16:47. | :16:50. | |
calls to split it off entirely. It says Richard have separate staff, a | :16:51. | :16:54. | |
separate board and separate branding, all designed to avoid | :16:55. | :16:59. | |
additional cost or disruption to consumers. Full details on our | :17:00. | :17:00. | |
website. Our top story is drones. Amazon has | :17:01. | :17:16. | |
been given the green light to test, from UK Government, to test services | :17:17. | :17:22. | |
that deliver their parcel. You are doing really well! | :17:23. | :17:27. | |
I have been doing it all morning! To deliver parcels to the house, they | :17:28. | :17:32. | |
say, 30 minutes after ordering. I still want to know what happens if | :17:33. | :17:36. | |
you live in a flat. A quick recap of the market in the | :17:37. | :17:41. | |
first 45 minutes of trade, pretty flat across mainland Europe. | :17:42. | :17:50. | |
How would you like a licence to print money? | :17:51. | :17:52. | |
Each year, the UK's Royal Mint makes currencies for dozens | :17:53. | :18:00. | |
of countries around the world, but it's not allowed to disclose | :18:01. | :18:03. | |
many of its international clients for security reasons. | :18:04. | :18:05. | |
But the use of notes and coins has been in decline as more of us switch | :18:06. | :18:09. | |
Last year in the UK, electronic payments outnumbered cash | :18:10. | :18:16. | |
The Royal Mint has been making coins for hundreds of years. | :18:17. | :18:23. | |
In 2014, it launched its bullion trading website, which allows | :18:24. | :18:26. | |
investors to buy and sell gold coins and bars. | :18:27. | :18:29. | |
Gold is seen as a safe haven - somewhere to put your money | :18:30. | :18:32. | |
We're joined by Adam Lawrence, chief executive of the Royal Mint. | :18:33. | :18:48. | |
1100 years old, right? You are looking good! Welcome to the | :18:49. | :18:56. | |
programme, good to have you with us. So many questions. Let's start with | :18:57. | :19:03. | |
that, this cashless society that we are becoming. That has got to hamper | :19:04. | :19:08. | |
your business? The death of cash is predicted but we are not there yet, | :19:09. | :19:15. | |
we will not be that for a long time. The volume in the UK and many | :19:16. | :19:20. | |
overseas markets has actually been increasing, so the number of | :19:21. | :19:22. | |
transactions has been decreasing but the volume has been going up for us. | :19:23. | :19:29. | |
Some will think of the Royal Mint, in charge of making the money year | :19:30. | :19:33. | |
in the UK, but I know you cannot say, but there are lots, the tie | :19:34. | :19:44. | |
but, right? We make some of the blanks for Thailand, the coin before | :19:45. | :19:47. | |
it has the head and tail on it, and we make them for many other | :19:48. | :19:51. | |
countries, usually about 50 countries every year. Speaking of | :19:52. | :19:55. | |
the coins, one thing that interests me is the counterfeit coins, | :19:56. | :19:59. | |
staggering numbers of counterfeit ?1 coins, so much so that you are | :20:00. | :20:03. | |
introducing a new one next year with 12 side and that sort of thing? How | :20:04. | :20:07. | |
do you stay one step ahead of the fraudster? It is a difficult task | :20:08. | :20:19. | |
but we have brand-new high security features, which I cannot talk about | :20:20. | :20:22. | |
for obvious reasons but it is cutting edge and will allow us to | :20:23. | :20:25. | |
have a binary is it real or not? The great thing with the ?1 coin, we | :20:26. | :20:27. | |
have some overseas customers as well. Looking at those pictures, the | :20:28. | :20:30. | |
little piece of metal, if you will, and we have seen commodity prices go | :20:31. | :20:35. | |
all over the place, lots of them down, and the prices of metal, does | :20:36. | :20:40. | |
that affect your business? Because ?1 is ?1, right? It affects | :20:41. | :20:44. | |
customers' decisions about whether to make new coins and what materials | :20:45. | :20:50. | |
they might use. Hopper is used a lot in coins, if they go up it might | :20:51. | :20:54. | |
mean people change. It provides an opportunity for us to introduce new | :20:55. | :20:59. | |
styles of coins with the -- like with the 5p and 10p a few years ago, | :21:00. | :21:04. | |
predominantly nickel, which saves the taxpayer money. One thing I want | :21:05. | :21:08. | |
to know, these commemorative coins for weddings and birds, that sort of | :21:09. | :21:13. | |
thing, are they worth the? Of course they are! They are commemorative | :21:14. | :21:17. | |
products for people who want to keep them as a keepsake and I think for | :21:18. | :21:21. | |
the people who buy them there is inherent value in what they are | :21:22. | :21:26. | |
buying it for. We have been told to wrap it up! As an Aussie, how do you | :21:27. | :21:30. | |
become the big boss of the Royal Mint?! I had a pharmaceutical | :21:31. | :21:35. | |
background before this, finance, moved here, it is a fantastic | :21:36. | :21:39. | |
organisation, I was given the opportunity five years ago and I've | :21:40. | :21:43. | |
loved every moment of it. From drug making it a moneymaking! Great! | :21:44. | :21:50. | |
We appreciated, thank you very much -- from drug making to moneymaking. | :21:51. | :21:57. | |
They say you have to dress for success in the modern world. | :21:58. | :22:00. | |
In a moment we will be talking about Starbucks' new dress code, | :22:01. | :22:03. | |
but first let's hear about the do's and don'ts for today's business | :22:04. | :22:06. | |
leaders from Designer and tailor Ozwald Boateng. | :22:07. | :22:07. | |
A lot of CEOs don't get the power image, and they don't get the power | :22:08. | :22:11. | |
of their own brand that they work for, so I find sometimes a lot | :22:12. | :22:14. | |
Are they a bit afraid to express themselves fully? | :22:15. | :22:18. | |
They're thinking about their company's brand and reputation? | :22:19. | :22:21. | |
Some of them have an awareness, and they think, "I need to dress | :22:22. | :22:24. | |
a certain way," and I've experienced it when they say, "I don't | :22:25. | :22:27. | |
I say, "That is really anti what I do!" | :22:28. | :22:33. | |
You don't necessarily have to wear a suit, | :22:34. | :22:39. | |
but you have to be consistent in whatever that image is. | :22:40. | :22:43. | |
So, you had Steve Jobs always wearing a black rollneck. | :22:44. | :22:47. | |
If you're wearing clothes where you're confident in them | :22:48. | :22:55. | |
and you're enjoying them, that will reflect in the way | :22:56. | :23:00. | |
You have got to feel good about yourself, and when that's | :23:01. | :23:06. | |
happened, that radiates through who you are in your personality. | :23:07. | :23:13. | |
As promised, Mike is back. Let's start with the Starbucks dress code | :23:14. | :23:21. | |
story, lots of tweets coming in. One example, all dress code is a | :23:22. | :23:25. | |
side-effect of power hungry management who think they are more | :23:26. | :23:29. | |
important than they are! Keep those comments coming in. Your | :23:30. | :23:35. | |
thoughts on it? What is interesting about the Starbucks one, they | :23:36. | :23:38. | |
already had a dress code but now there are certain dos and don'ts, | :23:39. | :23:42. | |
and some are surprising, particularly the headgear. The ones | :23:43. | :23:45. | |
on the left are what you can buy, the ones on the right you can't. You | :23:46. | :23:49. | |
would not want a tiger print fedora, for example?! We don't have those in | :23:50. | :23:55. | |
our office either, so I agree with that! Baseball caps are not that | :23:56. | :24:02. | |
prevalent, either! Is that right, in today's society? Starbucks is an | :24:03. | :24:05. | |
internationally recognised brand, you want to make sure people feel | :24:06. | :24:12. | |
comfortable working for them and if you pigeonhole them too much you | :24:13. | :24:15. | |
reduce the appeal of working for them, so I think that is what they | :24:16. | :24:20. | |
are trying to do. I gather it is a 15 page document so I the spec there | :24:21. | :24:23. | |
are some quite entertaining pieces in their! Do you have dress down | :24:24. | :24:31. | |
Friday in the office? We do. What is that, in the city, just taking off | :24:32. | :24:38. | |
that I? More or less! But during the summer months we have something more | :24:39. | :24:46. | |
casual. To be honest, if you were on the tube, just taking your tie off | :24:47. | :24:57. | |
makes a big difference! Let's turn our attention to this | :24:58. | :25:00. | |
55,000,000-dollar payoff the Stephanie Meyer, this was yesterday. | :25:01. | :25:08. | |
An amazing number, are pretty staggering payoff. This is a | :25:09. | :25:16. | |
challenge we see everywhere at the moment, levels of pay, and the | :25:17. | :25:20. | |
clarity around it, to be fair to her, the Yahoo stock price has gone | :25:21. | :25:25. | |
up so to some degree she has put a lot of money there for the | :25:26. | :25:32. | |
shareholders, largely on the Alibaba part, so this has crystallised in a | :25:33. | :25:37. | |
short space of time. And Alibaba is crucially not involved in the sale. | :25:38. | :25:42. | |
Hanging onto that one. So it should be seen as a success? The price has | :25:43. | :25:49. | |
gone up by 150%, so, on that basis, to some degree she has done | :25:50. | :25:54. | |
something right but clearly is doing well with those numbers. | :25:55. | :25:58. | |
But to see you, that is it from us, we will be back tomorrow, same time, | :25:59. | :26:02. | |
same place. Have a good day, goodbye. | :26:03. | :26:05. |