05/09/2016 BBC Business Live


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This is Business Live from BBC News with Ben Thompson


How will Brexit Britain trade with the rest of the world?


As the G20 summit in China gets underway, Britain's Prime Minister


faces tough questions over post brexit trade.


Live from London, that's our top story on Monday 5th September.


The Prime Minister has also questioned the effectiveness


of a points-based system for controlling immigration warning


We'll be live at the G20 for the latest.


As Apple prepares to unveil its new handset this week


amid the scandal of its tax affairs, Samsung counts the cost of one


And it's a new week for the markets in Europe - and this is how they're


And harnessing the power of the sun - and private investors.


We meet the firm that's luring international backers to fund solar


energy projects across South America.


And as HSBC says it will let you scan your face instead of typing


in a PIN number or security code, we want to know -


how safe do you feel banking online?


A second day of meetings is being held at the G20 summit


Talks have of course bee dominated by Britain's Brexit vote


with the Prime Minister Theresa May questioning the effectiveness


of a points-based immigration system for EU migrants


At the same time she's also been attempting some fancy diplomatic


footwork to try and persuade the world's major powers to strike


free trade deals with the UK once it leaves the EU.


The host nation, China, is also using the summit to increase its say


in running the global economy and promote its new regional


In an exclusive interview with the BBC, our China editor


Carrie Gracie asked the bank's President, Jin Liqun,


if China was the right country to be pressing the argument


You know, it's not possible for you to urge somebody to do


something while you yourself don't do it.


Yeah, well, that is my point, really.


China's reform will not get stalled, and, he said, we will not make


Some of the observers of China's policies will say, well,


talk is cheap, their argument being that if you really want China


to help kick-start global growth, then to dismantle the huge,


sclerotic, state-owned enterprises, and to provide more access


for China's own private enterprises, and for foreign enterprises,


You know, I'm a Chinese national, you may say I'm biased.


But we aren't just doing the talking, we are


And talking is cheap, but action is certainly


But it calls for both parties to do the same.


That is why I think G20 in Hangzhou is very, very important.


Now, these kind of discussions, or talkings, quote-unquote,


Later today China and the UK will sit down to discuss China's


investment in Britain's nuclear-power station. Earlier I was


speaking to Robin Brant and I ask them, is Brexit the talk of the


town? I think it dominated the discussions between Theresa May on


her international debut. President Barack Obama yesterday made no bones


about it. Even though there is a special relationship between these


two countries, he said the US was concerned about any adverse effect


on trade between the two nations as the UK tries to extricate itself


from the European union and he reminded Theresa May that the US


thinks it is more important to reach a free-trade deal with the European


Union and its Asia Pacific partners first. In reality, yes, Britain is


at the back of the queue when it comes to a deal with the United


States. But Theresa May, she will sit down with the Chinese officials


to talk about Hinkley Point. I wonder if China will be able to


reassure over the security concerns, which is the reason why we think


Britain delayed this deal. I am not sure if there is much more that


President Xi Jin Ping can do to reassure her. But there are concerns


about national security and worries about the malign influence that


China may have down the line if indeed it is to be in control of


these very important infrastructure things, like new nuclear power


stations. But make no mistake, this stations. But make no mistake, this


is an important issue further. Chinese, crucially, it is absolutely


important for them that they show the world they can do big, high-tech


infrastructure stuff like this. The fact the Prime Minister has put the


agreement on hold is a source of concern for them. And look, there


will be no decision here at the G20 from her. They will have to wait for


that but she had to reassure them that she is being there in this


reassessment. But there are some on the UK site, senior figures telling


me that they believe this is a dangerous time for UK China


relations and even the idea that some are mooting around the Prime


Minister that you can separate the two issues, this person today said


that that kind of suggestion is idiotic. Robin Brant, at the G20


Summit, talking to me earlier. We will be talking to him over the next


couple of days, hopefully. In other news, Malcolm Turnbull, the


Australian Prime Minister, says he wants to negotiate a strong


free-trade agreement with Britain. He was speaking to reporters on the


sidelines of that summit. That would be good, a trade deal with the


Aussies! Formula 1 has a new owner -


after a deal worth $8.5 billion. John Malone's Liberty Media


is to make the first of two payments tomorrow that


would finalise the deal. The German magazine Auto Motor und


Sport said the deal had been confirmed by F1 chief executive


Bernie Ecclestone. The sale allows US private equity


firm CVC Capital Parners, And it was a race of a different


kind through the streets The city hosted its first


Drone Festival on Sunday, including an international race


along the Champs-Elysees. While drones are increasingly used


by French security services, civilians are forbidden from flying


them over Paris without Drones over Paris. Should we do the


life that? -- live page. There are special coverage on our live page


Brexit Britain. We're talking about the applications of what happens to


the UK after the vote. As we have been discussing, there is a lot


being discussed at the G20 about what trade deals would look like and


what relationship the UK would have with the rest of the world and we


have had some timely advice from Japan.


Japan, this is the country that has had deflation for 25 years, that has


thrown the kitchen sink at its economy, basically? Giving advice to


us? You are suggesting it is a little bit rich? What about the


Obama saying we are at the back of Obama saying we are at the back of


the queue? He is gone in November. And it could be a Trump presidency,


where things will look very different. We're being told to move


on so let's move on. It is not an easy ride for of us, nor for South


Korea's shipping giant, Hanjin. They have been hammered. Investors not


reacting well. It is South Korea's biggest and the world's ninth


biggest. I wonder, Hanjin is a consequence, one of the victims of


what is happening around the global economy. We are shipping less stuff.


That's right. Hanjin's problems are sent a matter of what is facing the


entire industry. And to correct you, it is the world's seventh biggest


line. But this is the first time they have traded since filing for


bankruptcy. It sunk by as much as 30%. Investors are not feeling


positive about the start because that is the daily limit. The shares


are at their lowest since 2009 and the company is filing for court


protection in as many as 43 countries. Why? Because half of its


shipping fleet and its contents are in limbo, stranded because creditors


have either seized the ships or the ports have refused to handle them


because the workers are afraid they will not get paid. What does this


mean? You might not be able to get your TB, handbag or couch because


they would be stuck on one of those containers. -- you might not be able


to get your TV. Look at the numbers and things are starting pretty OK,


but bearing in mind that there is a lot of central bank action that is


keeping the markets on edge. The Nick Cave at a high not seen for


three months following some volatile trade. -- the Nikkei at a high. Not


a huge amount moving the markets but more economic stats coming in this


morning that we will keep an ion. As I said, Wall Street is closed today


but we have got the details about what else has been happening


stateside. Monday is a holiday in the US and


the markets will be close. There are still a few things happening to keep


us going. On Tuesday, Congress returns from a seven-week recess


with only a few weeks left to pass a stopgap spending bill to keep the


government running before funding runs out on September 30. On


Wednesday, Apple holds a keynote event and company executives will


likely present the new iPhone seven. And the new Apple watch, and


improvements to its operating system. And Barnes Noble will


report earnings on Thursday. It has been trying to attract shoppers by


expanding its offerings to include toys and craft brewing kits as a way


to reverse its seven quarters of sales decline. Finally, a fun fact


about Barnes Noble. In July, the company said that Harry Potter and


accursed child became the company's most reordered book since Harry


Potter and the deathly Hallows in 2007. The new iPhone seven on


Wednesday, potentially. Joining us is Manji Cheto,


Teneo Intelligence, Great to have you with us, as


always. Where do we start? Samir was taking us through the week ahead. If


we look back to last Friday, jobs numbers, we always focus on the jobs


numbers, and the American central bank. What do the job numbers tell


us about the Fed's decision on racing or not raising interest


rates? The markets are incredibly divided on the latest figures. It is


broadly on trend. US jobs are doing fairly well but actually the numbers


came out just below expectations. Broadly, we are seeing the markets


reacting, perceiving that the September rates hike is not going to


happen. But some people are actually saying, well, we might actually get


something happening and effectively what has happened with SMP 500, we


have had no movement for 40 days. Clearly, everyone is sitting on the


fence and thinking that we don't know what is going to happen with


the Fed's decision. You are coming back later to take us through


of the stories in the newspapers. We of the stories in the newspapers. We


will see you shortly. Still to come, we are going to talk about solar


energy and the firm linking energy and the firm linking


international investors with the international investors with the


power to harness the sun. Stay with us for that.


Thousands of people in the French town of Calais are expected


to blockade the port this morning, to demand the closure of the migrant


Later today, lorry drivers, businesses and trade


unions will form a human chain blocking the port.


Immigration is a key topic in Britain's Brexit talks -


but Prime Minister Theresa May has raised doubts over the value


of the so-called points system used to assess the value


We are joined from Calais by the BBC's Richard Galpin.


Richard, lots of disruption expected today. That's right. We can swing


the camera out now over the motorway, and you can see that this


is the main motorway leading into Calais. Certainly the inbound


carriageway is pretty much down to a trickle of cars coming through,


because the lorry drivers are already on the motorway and they are


basically on a go-slow, letting just a few cards through, but down to a


trickle. On the other side, you can see a line of tractors because


farmers are going to join in as well. There is a group of them


there, lined up and ready to go. They are still on their way towards


Calais as I speak. Yes, we are respecting a lot of disruption on


the roads and also, as you were saying, without human chain that


will be on the roads, leading to the port itself. The expectation is that


during the day and we do not know during the day and we do not know


how long this will go on for. Certainly the organisers have talked


about continuing it if they do not get the response that they want from


the French and British governments today. I.e., that they would agree


to close down the migrants and refugee camps here in Calais. Then


they are threatening to continue with some kind of action and we do


not know whether that will be a further blockade or some other


protest but they are talking about continuing these protests. Good


stuff, Richard. Thank you. We will keep a close eye on that. Richard


Galvin at Calais. Calais is the focus of a lot of


debate to do with Brexit Britain, with regards to the immigration


checks, which side of the border should those checks be carried out


on? It is Brexit day, there is a special report on the website about


Brexit Britain, check it out. Australia's Prime Minister Malcolm


Turnbull has said he's determined to support Britain after Brexit


by creating a strong free trade Later today, the British PM


Theresa May will meet the Chinese leader Xi Jinping for their first


talks since she postponed building a nuclear power station in Somerset


using Chinese investment. That $8 billion. I hope she can say


the word nuclear better than I can! A quick look at how


markets are faring.... The start of the new week in Europe,


not a huge amount of movement, but we will keep a close eye on that.


The pound and dollar have been pretty volatile. It is rising a


little bit, the pound. The pound has been going up, the


biggest jump in 25 years. Meeting rising energy demands


will be one of the biggest challenges facing our world over


the coming decades. Energy demand from less economically


developed nations is predicted A lack of funding is traditionally


one of the biggest barriers But one recently-launched company,


Faro Energy, is hoping to make a particularly big impact in Latin


America. It links firms needing power


with global investors Sarah Chapman is the Chief


Executive of Faro Energy. Hello and welcome. Let's pick on how


it works, first of all. It is an interesting concept. You are


bringing together businesses that need power and investors who have


the money to put into it. In places with a lot of sun, it seems like a


no-brainer, but it is a lack of funding. Exactly, that's right. Most


businesses and energy consumers are used to paying for their energy as


they use it, paying the bill every month. If you want to do so luck on


the U have to do so love. That big upfront cost is a real barrier to


people taking it up -- if you want to do solar, there is a big upfront


cost. We provide solutions to commercial clients so they do not


have to pay for it upfront, they continue to pay for their energy as


they use it. You are stumping up the cost first, but they get the money


back. Instead of paying the energy bill, they pay us instead. The


investors invest in your company. Yes, they invest with us. What is


the climate like so to speak. To find, you know, for investors in the


solar energy at the moment. There is a lot of energy and enthusiasm about


investing in the environment. We have seen the Paris agreement


getting ratified. There is recognition that the global energy


system is changing, and changing really quickly towards renewables.


There is a huge business opportunity, attracting the terms


without the need for subsidies, which is very exciting. We are


seeing investors coming into this market, it is still quite early


days, we are still seeing more adventurous investors, we're hoping


that over time the more conventional investors will be coming in. Looking


at the finance aspect, one of the biggest issues is land, getting


landowners to cover their land with solar panels. How would you do that


was Mike clearly the financial return is quite attractive, but


there must be an element of having to persuade people to hand over the


land? One of the big things that we do his rooftop solar, we install


solar on the roofs of buildings that our customers have. That means they


haven't got to make a choice between, I going to grow crops or


install a solar system? It is on their roof, an area that they are


not using. Is that big enough, the solar technology, I know it is


pretty good, coming from Australia, I have lots of family who use it.


But can you cover a roof and that will supply every bit of power


needed? It really depends on what kind of business it is and how


energy intensive it is. We are just about to start building a system or


a roof over brand-new aquarium in Rio de Janeiro, and that will cover


about 20% of the aquarium's energy usage. Which is a fair amount, it is


not its total energy usage, but a big chunk. That is Latin America,


while at in America, and what plans for elsewhere? The first reason is


that it is really sunny. About twice as much solar resource that is in


the UK. The other reason is favourable legislation, a good place


to do business. There is a lot of need the new energy generation


capacity over the next five to ten years. There is also huge


opportunity for this in many other countries around the world. We are


just getting started in Latin America. Good luck. We have got to


wrap it up, but we have seen sort of similar plans with Africa, right?


That is also a sunny place. Huge opportunities there as well. Good


luck with everything. From one boss to another.


As part of our CEO Secrets series, we ask business leaders


Here is Stephen Kelly, the boss of business IT company Sage,


offering the business advice he wished he had been given


We asked you a question, we like to do the slow reveal... We are going


to discuss a couple of weeks. I asked a question about online


banking, HSBC, you can do a selfie, basically,... It gets you into your


bank account because they recognise your face. Ben Wright says he does


not use online banking, he doesn't trust it, he will speak to them.


Good luck with that! Somebody else says, he fears for safety and


privacy and security. If you have got to on a tied up in online


banking. What do you reckon about this? Is it better than putting four


codes? I think there is a positive side to this. We have so many


passwords that we use a different things, and how many people actually


remember them? This is taking care of the need for different passwords.


As far as taking selfies and sending it the bank, it makes me feel a bit


uncomfortable. When I land at Heathrow with the facial scans, I


worry about who it is going to. You focus on how you look! I think


broadly this is a positive thing. Do you do full hair and make up when


you get off the plane! I am way too tired at that. I guess with the


thumbprint or even the face... The eyes. I think that would make people


much more comfortable. What about grandmothers? Taking selfies and


centre the bank... Let's look at billboards. With the advent of all


that technology and also some things like smartphones and all that sort


of thing is, in a digital age it says that billboards are far from


dead. The traditional big billboard is alive and well. Electronic


billboards are still big in the city. Piccadilly Circus and Madison


Square, it is still quite a big thing. The big problem however is


that some people or inserting cameras on the billboards and


actually monitoring the activity of people passing by. Obviously the big


question now is about security, do I feel comfortable going past the


billboards knowing that somebody is tracking what I am doing to target


advertising? Maybe it will argue into your bank account! They can now


have the cameras taking pictures of us -- log you into your bank


account. They are seeing where we are looking on the billboard. Scary


stuff. Thank you. That's it from us. We will see you very soon. Bye-bye.


Hello there, good morning. We have tropical air with us today. That


means there will be a lot of ground around, a little rain or drizzle,


especially early on. There will be a warm and muggy


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