:00:14. > :00:19.How much responsibility should the social media giants -
:00:20. > :00:22.FaceBook, Twitter, YouTube - have
:00:23. > :00:27.when it comes to policing extremists who use the sites?
:00:28. > :00:30.A new report says they need to do more.
:00:31. > :00:42.The world's first self-driving taxi service has arrived in Singapore
:00:43. > :00:50.And we will keep you up-to-date with the markets as investors continue to
:00:51. > :00:51.tread water ahead of Friday's big speech from the Federal Reserve
:00:52. > :00:56.chair. And how working from home
:00:57. > :01:00.is fuelling the demand for home office furniture,
:01:01. > :01:02.a global business worth We'll have more on that
:01:03. > :01:06.on the Inside Track later When does a business become more
:01:07. > :01:29.than just a business? A damning new report says that
:01:30. > :01:35.companies like Facebook and Twitter are "consciously failing" to prevent
:01:36. > :01:38.the use of their websites to promote According to the report,
:01:39. > :01:48.in 2014, Google removed over 14 million videos that
:01:49. > :01:52.were linked to terrorists. Twitter
:01:53. > :01:54.had suspended over 125,000 accounts Despite this, the committee
:01:55. > :02:00.describes the actions as only In response to the report,
:02:01. > :02:08.Twitter points out that its efforts have been welcomed by numerous
:02:09. > :02:10.third parties, including Meanwhile, Facebook says that,
:02:11. > :02:15."Terrorists and the support of terrorist activity are not
:02:16. > :02:17.allowed on Facebook". The company went on to say that
:02:18. > :02:25.online extremism can only be tackled with a strong partnership between
:02:26. > :02:50.policy makers, civil society, We outline some of the elements and
:02:51. > :02:56.issues you are concerned about that to what extent is it fair to say the
:02:57. > :03:00.likes of Google, Twitter, Facebook, are allowing this activity to go
:03:01. > :03:05.ahead when clearly they are taking steps and measures to try to counter
:03:06. > :03:10.this activity? Good morning. We think it is fair, that is why we
:03:11. > :03:16.said it. We believe the internet is a force for good, one of the
:03:17. > :03:25.greatest inventions of our lifetime, however it is used as a platform for
:03:26. > :03:31.groups like Daesh and other organisations who use social media
:03:32. > :03:35.in order to spread their message and the responsibility on these
:03:36. > :03:41.companies is not to stand aside, it is to do more of what they have done
:03:42. > :03:47.over the past year, to remove content related to terrorism and
:03:48. > :03:51.content propagated by preachers of hate, which means they have to
:03:52. > :03:58.allocate more resources into effective management of these
:03:59. > :04:01.accounts. Google has a global income last year of $74 billion, equivalent
:04:02. > :04:08.to the GDP of Iceland. Taken together with Twitter and with
:04:09. > :04:11.Facebook, you will see they have enormous resources at their
:04:12. > :04:17.disposal. We say use more resources in order to deal with the account
:04:18. > :04:25.setup and being used in order to try to seduce vulnerable young people in
:04:26. > :04:27.Britain and around the world. We believe radicalisation from the
:04:28. > :04:34.internet is probably the number one source. There are others.
:04:35. > :04:38.Peer-to-peer radicalisation and radicalisation in prisons and
:04:39. > :04:41.schools, etc, but this is the number-1 area and more needs to be
:04:42. > :04:49.done to tackle the unregulated and lawless internet in some parts of
:04:50. > :04:54.that great wide internet. We need to do it as quickly as possible. Your
:04:55. > :04:57.report does not take into consideration how much the UK
:04:58. > :05:01.Government and international communities are doing to counter
:05:02. > :05:07.this, working with organisations like Facebook, Twitter, Google. They
:05:08. > :05:12.have made a great deal of progress and Daesh, as you call them, or
:05:13. > :05:16.Islamic State as some of us call them, are already not using these
:05:17. > :05:22.websites because they are easily detected if they do so. We did not
:05:23. > :05:27.take evidence from Daesh, so we do not know what they are doing. We
:05:28. > :05:32.point out the internet is the vehicle of choice for those who want
:05:33. > :05:39.to spread information quickly. If they create access to the dark net,
:05:40. > :05:43.then Google, Facebook, Twitter, have the best and brightest people,
:05:44. > :05:48.world-class businesses, they will be able to provide skills necessary in
:05:49. > :05:53.order to force them to find out how they are getting into the dark net.
:05:54. > :05:58.We need to constantly deal with this issue, it is something happening
:05:59. > :06:04.every day. Businesses do need to react in that way. I am told we have
:06:05. > :06:09.to end the discussion, as much as I would like to ask you another
:06:10. > :06:14.question! Thanks. Some other business stories now. The US
:06:15. > :06:18.Treasury Department warned the European Commission about taking
:06:19. > :06:23.action against US companies over tax avoidance allegations.
:06:24. > :06:26.The move comes ahead of a possible European Commission
:06:27. > :06:28.decision on whether Apple's tax arrangement with Ireland violates
:06:29. > :06:33.The company could be hit with a multi-billion pound bill
:06:34. > :06:36.But the commission said there was "no bias against US
:06:37. > :06:42.We will have more on that later in the programme.
:06:43. > :06:44.According to a new study, many Asian organisations are badly
:06:45. > :06:49.It says the median time between a breach and its
:06:50. > :06:55.That is three times the global average.
:06:56. > :06:57.The study by US security company Mandiant indicates that Asia
:06:58. > :07:00.was also 80% more likely to be targeted by hackers than other parts
:07:01. > :07:07.It said an average of 3.7GB in data had been stolen in each attack,
:07:08. > :07:16.which could be tens of thousands of documents.
:07:17. > :07:23.A quick look to see what other stories are making headlines. This
:07:24. > :07:30.took your interest. On bricks and mortar. Exciting stuff
:07:31. > :07:34.from the national association of estate agents, a UK organisation
:07:35. > :07:39.that has issued a report about bricks, compiled by the centre of
:07:40. > :07:43.economic and business research, saying there is a chronic shortage
:07:44. > :07:47.in bricks that is pushing up the price of housing. It is a real
:07:48. > :07:52.problem that is interesting. It says if Britain was to build
:07:53. > :07:56.enough houses to bring house prices down, there would not be enough
:07:57. > :08:00.bricks available to do so. You can make bricks out of other
:08:01. > :08:07.things. There you go, that is a business!
:08:08. > :08:12.Now to Singapore this morning where self-driving
:08:13. > :08:19.The trial steals a march on Uber who are looking to test a driverless
:08:20. > :08:37.Tell us more about this interesting story. Many of us thought we were
:08:38. > :08:42.years away from robot cars on the road but we have come to that point
:08:43. > :08:46.with a world first in Singapore, where they will take a fleet of
:08:47. > :08:54.driverless cars starting from today. We know many companies, like Google,
:08:55. > :08:58.Volvo, have been testing these cars, countries like US and China have
:08:59. > :09:03.done it on closed circuit. It marks the first time they will put them on
:09:04. > :09:09.public roads and involve embers of the public. It is operated by a US
:09:10. > :09:15.start-up. They began the trials in May and April and from today they
:09:16. > :09:19.will operate in a two and a half square mile area in the western part
:09:20. > :09:25.of Singapore. If you want to hail a card, a mini electric car made by
:09:26. > :09:30.Renault and Mitsubishi, all you have to do is take your smartphone and
:09:31. > :09:35.they will come to a designated pick-up point and they have
:09:36. > :09:39.designated drop-off points. They will go through actual traffic
:09:40. > :09:43.conditions. An exciting development. We will have six of the electric
:09:44. > :09:48.cars on the road to start with and we hope we will have 12 by the end
:09:49. > :09:54.of the year. Sally and I'm wanting to know your reactions on Twitter.
:09:55. > :10:00.Would you use a driverless taxi? We can stay in Asia now. Shares
:10:01. > :10:04.wavering. Taking a cue from an overnight drop on Wall Street while
:10:05. > :10:11.the dollar is marking time ahead of the key speech by Janet Yellen at
:10:12. > :10:13.the global central bankers meeting. Investors treading water ahead of
:10:14. > :10:27.the speech to see if she will offer a clue on rate hikes. The European
:10:28. > :10:31.open, market still fairly flat. The FTSE 100 continuing the downward
:10:32. > :10:37.trend we saw yesterday. Thanks to the sharp drop in metal prices
:10:38. > :10:44.putting pressure on the sector. Before we go back to Sally, we can
:10:45. > :10:48.talk about the details about what is ahead on Wall Street. Durable goods
:10:49. > :10:53.orders are out for July, these are things meant to last three years or
:10:54. > :11:01.more, ranging from toasters to aircraft. It is an important litmus
:11:02. > :11:04.test for the US economy because consumers and businesses only make
:11:05. > :11:11.these purchases when they are confident they can afford them. In
:11:12. > :11:18.June, durable goods orders fell by 3.9%. But investors expect orders to
:11:19. > :11:24.have increased by 3.3% in July. Speaking of durable goods, Tiffany
:11:25. > :11:27.will be reporting on Thursday. The strong US dollar is discouraging
:11:28. > :11:33.tourists from buying high-end jewellery. Tiffany has long been
:11:34. > :11:39.considered a status symbol. Younger shoppers are not as taken by it with
:11:40. > :11:45.millennials ignoring brand names and seeking more value for their money.
:11:46. > :11:55.We are joined by Jane Foley, senior currency strategist. Talking about
:11:56. > :12:00.it every day on the show, the Fed, Janet Yellen. It is all about her.
:12:01. > :12:04.It is a quiet week because it is the middle of August. This is the focus
:12:05. > :12:09.but you can look it from different points of view. It has implications
:12:10. > :12:14.for the US economy, but what happens to the dollar has implications for
:12:15. > :12:18.what happens to other central banks and currencies. If the Fed signalled
:12:19. > :12:24.they would raise interest rates immediately concede a negative
:12:25. > :12:29.signal to emerging markets, equities, etc, but it would be
:12:30. > :12:35.easier for the European Central Bank, bank of Japan, Australians and
:12:36. > :12:38.New Zealand, to see more power given back to their monetary policy.
:12:39. > :12:41.Because the dollar is stronger and more attractive and their currencies
:12:42. > :12:48.we can and they are not under so much pressure. It is a massive event
:12:49. > :12:54.for the world economy. One of the themes of the week has
:12:55. > :12:56.been falling commodity prices, particularly in the metals sector,
:12:57. > :13:05.contrast in with how robust oil has been of late. Oil, a sense of deja
:13:06. > :13:09.vu. At the start of the year we thought by now we would balance
:13:10. > :13:14.between supply and demand that we are still moving from one issue, too
:13:15. > :13:22.much supply, to the issue of demand disappointing. It is difficult to
:13:23. > :13:30.see a strong recovery from these levels. We are swinging around. We
:13:31. > :13:34.have to remember that we have to hold the story about China. We were
:13:35. > :13:41.worried about Chinese growth recently markets are saying China is
:13:42. > :13:44.doing OK. But we have worries about the build-up of debt, which
:13:45. > :13:49.increases the chances of a hard landing. China the biggest importer
:13:50. > :13:53.of commodities in the world, which is a big potential story for them.
:13:54. > :14:01.We will see you later and get your take on whether you will get in a
:14:02. > :14:05.driverless taxi. Still to come, or why the world of interior design and
:14:06. > :14:14.home furnishing is now a multi-billion dollar business. We
:14:15. > :14:19.can focus on the car industry, which is apparently booming in the UK with
:14:20. > :14:23.production demand and exports going up according to the Society of Motor
:14:24. > :14:28.Manufacturers and Traders. More than a million were produced in the first
:14:29. > :14:32.seven months this year, the first time in 12 years production has
:14:33. > :14:37.reached the milestone. Andrew Walker, why do we think it is
:14:38. > :14:46.booming? A couple of factors. Strong demand. According to the society,
:14:47. > :14:52.there was an increase of 14% in production for the domestic UK
:14:53. > :14:57.market, a 6% increase in export orders. We are seeing the continued
:14:58. > :15:01.recovery in the British and international economy after the
:15:02. > :15:08.great recession and financial crisis. That is an important part.
:15:09. > :15:13.On the other side, the society's chief executive says it reflects the
:15:14. > :15:16.fact Manufacturers have invested billions in what he calls exciting
:15:17. > :15:22.new models. That is encouraging consumers to buy.
:15:23. > :15:29.Booming right now, but will it continue? We have some post-Brexit
:15:30. > :15:34.figures which is possibly one of the issues you are hinting at there,
:15:35. > :15:40.suddenly there was no sign in the years of any adverse effect on
:15:41. > :15:43.demand from British motorists. Continued, strong growth there. As
:15:44. > :15:49.for Europe, I suppose the big issue is going to be what happens, how the
:15:50. > :15:53.decline in Stirling affects the demand for British cars there. It
:15:54. > :15:56.certainly has the potential to be very positive, although I think
:15:57. > :16:01.these figures are perhaps a little bit early for that kind of effect to
:16:02. > :16:06.have fed through. Beyond that, I think the key factor is going to be
:16:07. > :16:13.the strength of the recovery on continental Europe and around the
:16:14. > :16:15.world. And back here in the UK. Just how, ultimately, motorists to
:16:16. > :16:20.respond to the new economic situation we are in. But so far in
:16:21. > :16:27.this one-month's worth of figures it looks quite upbeat. Great stuff,
:16:28. > :16:30.thank you, Andrew Walker. So that is encouraging, cars flying off the
:16:31. > :16:38.forecourt, but not Jimmy Choo shoes, it would seem. Pre-tax profits
:16:39. > :16:41.plunging to ?2.6 million town from 20 million the previous year. More
:16:42. > :16:52.on that on our Business Live website, just head online. Hello,
:16:53. > :16:57.you are watching Business Live. Today we are looking at a damning
:16:58. > :17:01.report that has come through from UK politicians, saying companies like
:17:02. > :17:04.Facebook, Twitter, Google are consciously failing to prevent the
:17:05. > :17:09.use of their websites to prevent terrorism. Let's see how markets are
:17:10. > :17:13.getting on this morning in Europe, and they are following that downward
:17:14. > :17:18.trend we saw in Asia and Wall Street overnight. Currently down some 0.5%,
:17:19. > :17:28.being pulled down again by that metal sector.
:17:29. > :17:30.By 2019, the global market for home furnishings is forecast to reach
:17:31. > :17:33.695 billion dollars, with certain trends pushing that demand higher.
:17:34. > :17:36.One trend is the rise in the number of people working from home,
:17:37. > :17:39.and with that there is now a growing demand for Home Office furniture.
:17:40. > :17:41.All this is leading to online furnishings being one
:17:42. > :17:43.of the the fastest-growing areas in developing markets.
:17:44. > :17:45.One company looking to disrupt the traditional furniture market
:17:46. > :17:48.is Eporta which has become the largest brand network
:17:49. > :17:53.Set up in 2015 Eporta helps trade buyers, such as interior designers,
:17:54. > :17:55.architects and retailers, to discover new suppliers
:17:56. > :17:57.and designers, with whom they can liaise directly to negotiate
:17:58. > :18:11.The number of trade buyers already on Eporta's books are around 2,000.
:18:12. > :18:13.Eporta currently consists of more than 800 brands in 45 countries
:18:14. > :18:24.with big brands such as Conran and Roche Bobois on board.
:18:25. > :18:30.that is the right way to say it, did that get right? Sounded wonderful.
:18:31. > :18:32.With me is Aneeqa Khan, founder and CEO of Eporta -
:18:33. > :18:34.a platform for professional buyers, designers and suppliers
:18:35. > :18:36.that is redefining the interiors industry...
:18:37. > :18:41.The company has been live for a year that actually it has been going for
:18:42. > :18:46.about a year and a half. So when you kicked this all off with a friend of
:18:47. > :18:49.yours, you were 27 years old, just taking quite a life changing
:18:50. > :18:53.decision, because you had been working in the City of London. Talk
:18:54. > :19:00.is through the whole process. Quite a big deal? I guess it was a big
:19:01. > :19:03.deal, changing from that career to starting my own business, but my
:19:04. > :19:06.background is my parents both have small businesses that they run out
:19:07. > :19:11.in Manchester, so for me, having your own business was pretty normal.
:19:12. > :19:14.Having a city career was abnormal in that context so it wasn't worrying
:19:15. > :19:19.starting a business of my own, it was more living a very good job, a
:19:20. > :19:22.very good set of jobs, and doing something which I knew would be
:19:23. > :19:26.difficult basically at the beginning. It was difficult at the
:19:27. > :19:31.beginning but now, seeing the fruits of the way have done, it means it
:19:32. > :19:37.has paid off. So far, it's working. Early days, but still, but just to
:19:38. > :19:43.say why Eporta, why furniture? I do have a passion for furniture. I
:19:44. > :19:46.think that basically places, nice places in the home and also within
:19:47. > :19:52.the office just make people happy day today. It is important to have
:19:53. > :19:59.beautiful surroundings. Back in 2017, two years ago sorry, I bought
:20:00. > :20:02.a flat in Brixton and was just struggling to find furniture for
:20:03. > :20:07.that flat. Through trying to find really great pieces, I was wondering
:20:08. > :20:12.why it was so difficult for me as a consumer, so not as a trade buyer.
:20:13. > :20:15.So I started exploring the market, going out all the different
:20:16. > :20:18.boutiques in London and trying to find different suppliers from around
:20:19. > :20:21.the world, and what I've realised is that the reason I was finding it so
:20:22. > :20:28.difficult find beautiful pieces was that actually there is a bottleneck
:20:29. > :20:30.in the trade, and the places I was going, to retail shops, or to
:20:31. > :20:36.interior designer friends I was reaching out to, it is actually very
:20:37. > :20:38.difficult for them to access all of the designers and manufacturers
:20:39. > :20:43.around the world and source from them. Which means it was difficult
:20:44. > :20:46.for me as a consumer. So we decided there is this beautiful set of
:20:47. > :20:50.products that are out there from around the world, which no one is
:20:51. > :20:55.really seeing or not getting enough access to, so why do we create
:20:56. > :21:00.something that solves that piece, which helps me as a consumer? In
:21:01. > :21:03.order to get the business up and running involved organising lots of
:21:04. > :21:07.meetings both here in the UK and also in Europe with potential
:21:08. > :21:13.suppliers. Doing that at the age of 27, how's that for you? Did you find
:21:14. > :21:16.that age was a barrier in any way? The first barrier is it is new and
:21:17. > :21:19.you have nothing to sell effectively, but you are trying to
:21:20. > :21:25.convince people to come on board, that was by far the biggest barrier.
:21:26. > :21:29.Age is a barrier if I'm being honest, all it was, now what is
:21:30. > :21:34.great is that we have a community of people who use us daily, and so
:21:35. > :21:37.people want to come on board as part of that community. When you are
:21:38. > :21:41.young, trying to convince someone who might be 20 or 30 years older
:21:42. > :21:46.than you and been in the industry for 40 years, it was difficult at
:21:47. > :21:51.the beginning. We are being told to wrap this up but just explain to the
:21:52. > :21:54.viewers how you make money. Absolutely, we charge a very small
:21:55. > :21:58.commission to our suppliers each time a product is actually bought
:21:59. > :22:01.through our platform online. So there is no up front to subscription
:22:02. > :22:05.charge for any of the brands, which means it is very affordable for
:22:06. > :22:06.anyone out there. Thank you for coming in, and good luck with the
:22:07. > :22:08.business. Think beer festival,
:22:09. > :22:09.and Germany comes to mind... But residents in Pyongyang
:22:10. > :23:48.are enjoying a pint or two It's brilliant, isn't it? Insights
:23:49. > :23:51.into what is going on in North Korea. Jane Foley is back, we asked
:23:52. > :23:56.our viewers would you get into a self driving taxi? Dier yes, I
:23:57. > :23:59.would, as long as the technology had been proven and we can trust it,
:24:00. > :24:03.because you know the driver is not going to fall asleep, he will not be
:24:04. > :24:09.over the limit on alcohol, you won't use his phone, he won't get lost. So
:24:10. > :24:14.for those reasons... As mine did this morning. But people disagreeing
:24:15. > :24:18.with you on twitter, Sydney in Scotland says I would never use a
:24:19. > :24:22.driverless taxi, road or vehicle. And this from India, I would be
:24:23. > :24:27.scared to sit in one in India because it might just malfunction.
:24:28. > :24:33.Ski boy in Edinburgh says I might try this check the -- taxi if it is
:24:34. > :24:37.free of charge. It is free in Singapore today. They are road
:24:38. > :24:41.testing it. The story in the financial review and elsewhere is
:24:42. > :24:48.about dominoes pizza launching the true and delivery service in New
:24:49. > :24:53.Zealand. I don't know if that is a Domino's pizza or something similar.
:24:54. > :24:58.It is interesting, New Zealand is saying because it is therefore the
:24:59. > :25:02.only Asian rules. It is something that could happen elsewhere in the
:25:03. > :25:05.world and the UPS bosses recently asked if it would happen for UPS,
:25:06. > :25:08.and he laughed it off and said it could happen in countries like
:25:09. > :25:13.Rwanda, where the roads are not only good but perhaps not in America.
:25:14. > :25:19.Amazon have the delivery, and several drones heading to your
:25:20. > :25:22.house, what does that mean? Urban built-up areas? Perhaps not fair,
:25:23. > :25:26.but you could imagine not in New Zealand but in Australia, if you
:25:27. > :25:30.were in one of these foreign outposts, then fantastic. It
:25:31. > :25:34.connects you. Said the man or woman on the scooter could be a thing of
:25:35. > :25:47.the past, thanks Jane. That is Business Live, we will see you soon.
:25:48. > :25:51.Good morning. Yesterday in East Anglia, the south-east of England it
:25:52. > :25:52.was an absolute