27/09/2016

Download Subtitles

Transcript

:00:00. > :00:00.have gone head-to-head in the first live televised debate

:00:00. > :00:14.Live from London, that's our top story on Tuesday, 27th September.

:00:15. > :00:20.Protectionism is again proving to be a key battleground in the race

:00:21. > :00:27.We'll hear from both sides of the debate.

:00:28. > :00:31.Also in the programme, confounding the critics.

:00:32. > :00:33.The Asian Development Bank says China will grow faster

:00:34. > :00:35.than expected, despite widespread fears of a slowdown.

:00:36. > :00:42.And the European markets are open for trade.

:00:43. > :00:44.They are all trading up in the green.

:00:45. > :00:48.There is lots to discuss throughout the programme.

:00:49. > :00:51.Cracking the code of entrepreneurial success!

:00:52. > :00:54.Later in the programme we'll get the Inside Track on a business

:00:55. > :01:01.which is giving a boost to London's whiz-kid programmers.

:01:02. > :01:03.And Sainsbury's want to bring back grocery

:01:04. > :01:06.It's all about keeping up with Amazon.

:01:07. > :01:09.We want to know has the online giant changed the way you shop?

:01:10. > :01:22.Hilary Clinton and Donald Trump have faced off in the first

:01:23. > :01:27.Both presidential candidates have put forward their competing visions

:01:28. > :01:34.When Hilary Clinton started talking about how well the United States

:01:35. > :01:37.performed under her husband in the nineties, Mr Trump pointed

:01:38. > :01:41.to what he described as the economic devastation that resulted

:01:42. > :01:52.from the North American Free Trade Agreement signed by Bill Clinton.

:01:53. > :01:59.Go to New England, Ohio, Pennsylvania, anywhere you want,

:02:00. > :02:03.Secretary Clinton, and you will see devastation, where manufacture is

:02:04. > :02:09.turned 30, 40, sometimes 50%. NAFTA is the worst trade deal, maybe, ever

:02:10. > :02:13.signed anywhere, certainly in this country. You want to improve

:02:14. > :02:18.transpacific partnership. You are totally in favour of it. You heard

:02:19. > :02:23.what I said about how bad it was. He said, I can't win that debate. If

:02:24. > :02:30.you won, you would approve that, it would be almost as bad as NAFTA,

:02:31. > :02:35.although nothing will top that. Hillary Clinton defended her views

:02:36. > :02:39.but went on the offensive, attacking Trump on taxation. She said that the

:02:40. > :02:45.extensive tax cuts proposed by him would not help the US economy.

:02:46. > :02:49.We need smart, fair trade deals. We also need a tax system that rewards

:02:50. > :02:53.work and not just financial transactions. The kind of plan but

:02:54. > :02:57.Donald has put forth would be trickle-down economic 's all over

:02:58. > :03:03.again, it would be the most extreme version, the biggest tax cuts for

:03:04. > :03:08.the top percent in this country that we have ever had. I call it trumped

:03:09. > :03:14.up trickle-down, that is exactly what it would be. That is not how we

:03:15. > :03:17.grow the economy. That gives you a snapshot of 90 minutes of debate.

:03:18. > :03:18.Marianne Schneider-Petsinger, US Geo Economics Fellow

:03:19. > :03:29.Hello, what did you make of it? Overall, I think Hillary Clinton had

:03:30. > :03:34.a very strong performance. I think that, overall, she won. Segment by

:03:35. > :03:38.segment, I would say Donald Trump did quite well during the first

:03:39. > :03:43.third of the debate, which focused on the economy and jobs, then as we

:03:44. > :03:48.move towards national security and race, he became much more

:03:49. > :03:55.incoherent, made incorrect statements and interrupted Hillary

:03:56. > :04:00.Clinton. Overall, I think Hillary Clinton won. The financial markets

:04:01. > :04:04.and exit polls show that. Listening to those Mbytes, talking about

:04:05. > :04:09.trade, Donald Trump was quite specific about that, talking about

:04:10. > :04:15.how Hillary Clinton has changed his stance on PPP, for example. It seems

:04:16. > :04:21.to be an easy way of beating each other up, to what extent is the

:04:22. > :04:24.voter that keen on the discussion about trade and the economy? I think

:04:25. > :04:30.it is interesting that trade has played such an important role but,

:04:31. > :04:34.overall, looking at the concerns of voters, the economy and terrorism

:04:35. > :04:39.are numbers one and two macro, trade only really plays out at the bottom.

:04:40. > :04:45.What we have seen in the campaign and the debate, trade plays a role.

:04:46. > :04:50.Donald Trump has said that NAFTA was the worst agreement ever negotiated.

:04:51. > :04:57.As we saw in the clips, he pointed out that Hillary Clinton has changed

:04:58. > :04:59.his stance on PPP. Interestingly, nobody mentioned the Transatlantic

:05:00. > :05:03.Trade and Investment Partnership that is currently being negotiated

:05:04. > :05:11.with the European Union. Trade comes up, because there is an anti trade

:05:12. > :05:17.environment on both sides of the Atlantic. We saw some market

:05:18. > :05:21.reaction, the Mexican peso surged, interestingly. Clinton is seen to

:05:22. > :05:26.have won this one, there are two macro more to go. How influential

:05:27. > :05:32.are these debates in helping voters decide? Overall, I think the impact

:05:33. > :05:37.is overhyped. They might change on the margin, but overall I do not

:05:38. > :05:41.think that a lot can happen in the last 42 days that we have between

:05:42. > :05:45.now and November. We will see. In terms of how this debate has played

:05:46. > :05:51.out, we will see polls in the next couple of days. As I mentioned

:05:52. > :05:55.before, we have seen so far that Clinton won this one, but going into

:05:56. > :05:58.the debate, expectations for her were quite high, the once for Donald

:05:59. > :06:02.Trump were much lower. There is a debate about whether he even met

:06:03. > :06:10.that low bar. There is still a long way to go.

:06:11. > :06:14.Thank you for coming in, Marianne The big event is in November.

:06:15. > :06:16.November the 8th. The Walt Disney Company

:06:17. > :06:19.and Microsoft could both be joining a list of potential suitors

:06:20. > :06:21.for Twitter - according Twitter shares were up more than 2%

:06:22. > :06:25.at $23.36 in after-market trading. The microblogging service has

:06:26. > :06:27.reportedly started talks with a number of technology

:06:28. > :06:29.companies to sell itself, Disney is said to be working

:06:30. > :06:33.with a financial adviser to evaluate The US Labor Department Secretary

:06:34. > :06:37.Thomas Perez has pledged to conduct a top-to-bottom review of all cases,

:06:38. > :06:39.complaints and other alleged violations that the department has

:06:40. > :06:42.received concerning Wells Fargo The announcement comes after calls

:06:43. > :06:48.for an investigation into possible wage and working-hour law violations

:06:49. > :06:50.involving Wells Fargo staff, who may have stayed late

:06:51. > :07:07.to meet sales quotas. Saudi Arabia has cut the salaries of

:07:08. > :07:10.Cabinet ministers by 20% and frozen wages of lower ranking officials,

:07:11. > :07:19.this is in response to lower oil revenues. 160 members of the council

:07:20. > :07:23.will see a 15% drop in annual allowances for housing, furniture 's

:07:24. > :07:28.and cars. They did not say how much money would be saved overall.

:07:29. > :07:35.Some interesting news from the Toolis industry, something we have

:07:36. > :07:38.followed here, they have had a very difficult year because of various

:07:39. > :07:43.events going on in popular destinations around the world.

:07:44. > :07:46.Turkey has experienced several terrorist attacks, not to mention a

:07:47. > :07:51.military coup. That has really affected Thomas

:07:52. > :07:56.Cook. The trading update, interestingly, says that summer 2016

:07:57. > :08:00.bookings are down 4%, excluding Turkey they are rubber 8%. So Turkey

:08:01. > :08:05.is tracking down the Thomas Cook results.

:08:06. > :08:11.Thomas Cook shares are trading in London at double over 1%, but over

:08:12. > :08:14.the year they are down something like 41% on the year. Although the

:08:15. > :08:23.shares are jumping up a tiny bit today, on the year they have had a

:08:24. > :08:35.very difficult year. Now we can go and speak to Sharanjit

:08:36. > :08:39.in Singapore. The Asian development bank came out with Outlook today. It

:08:40. > :08:45.essentially counters what we have heard about China's slowing economy.

:08:46. > :08:51.They raise their growth forecasts for China this year to 6.6% from the

:08:52. > :08:55.last Testament of 6.5%, they say it is down to fiscal and monetary

:08:56. > :09:00.stimulus. I spoke to the Assistant chief economist of a bank in Manila,

:09:01. > :09:05.who told me that while the external environment in China remains weak,

:09:06. > :09:09.growth continues to be driven by consumption, and he sees an uptake

:09:10. > :09:12.in the amount of services contributing. He says there is an

:09:13. > :09:19.easing of growth, but not a hard landing. They have kept their growth

:09:20. > :09:22.estimates this year and next at 5.7%, they are basically saying it

:09:23. > :09:24.is thanks to China and India, they are upsetting the slowdown

:09:25. > :09:31.elsewhere. Projections for India were capped at 7.4%. Essentially,

:09:32. > :09:35.they say that is down to the strong consumption and investment revival.

:09:36. > :09:41.They warning huge possibility of an interest rate hike, which could undo

:09:42. > :09:44.all that by disrupting capital flows and contemplating macroeconomic

:09:45. > :09:47.management in the region. Thank you, Sharanjit.

:09:48. > :09:53.Asian stock markets were mostly higher today -

:09:54. > :10:04.Then OK was up, the Hang Seng was up just over 1%. The Dow close-down

:10:05. > :10:07.almost 1%. Traders in Asia were following the US presidential debate

:10:08. > :10:12.between Hillary Clinton and Donald Trump.

:10:13. > :10:14.Let's look at European markets and it's worth noting the FTSE

:10:15. > :10:17.closed down 1.3% yesterday, its worst one-day percentage decline

:10:18. > :10:21.since late June when Britain voted to leave the European Union.

:10:22. > :10:27.And Michelle Fleury has the details about what's ahead

:10:28. > :10:38.There is plenty of economic data on housing and consumer confidence to

:10:39. > :10:41.catch investors' attention this Tuesday. There is concern about the

:10:42. > :10:47.underlying strength of the housing market, we will get a clearer

:10:48. > :10:52.snapshot when standard pullers releases its home price index for

:10:53. > :10:56.July. It looks prices in metropolitan areas and it is

:10:57. > :11:00.expected to remain steady at 5.1%. A separate report is likely to show a

:11:01. > :11:05.slight dip in consumer confidence in September. Nikkei reports

:11:06. > :11:11.first-quarter results, the world's largest footwear maker is expected

:11:12. > :11:16.to report a rise in revenue -- Nike reports. Sales at home have been

:11:17. > :11:22.tepid but they continue to grow in Asia-Pacific.

:11:23. > :11:25.Aviation negotiators will try to reach an agreement to limit future

:11:26. > :11:30.aviation emissions at a conference in Montreal.

:11:31. > :11:34.That is Michelle Fleury, who has had a very busy time. I spoke to her

:11:35. > :11:35.about four hours ago about the big US debate.

:11:36. > :11:38.Joining us is Michael Hewson, chief market analyst at CMC Markets.

:11:39. > :11:45.Good to see you. Did you stay up all night and watch the debate, or had

:11:46. > :11:48.he been soaking it up this morning? I've been soaking it up, as I was

:11:49. > :11:53.waiting in the Green room, chewing on it. What did it tell us about the

:11:54. > :11:58.candidate that we don't already know? Not very much. We have seen a

:11:59. > :12:03.muted reaction and markets, slightly up, I don't know if that is more of

:12:04. > :12:05.a result of the big declines yesterday than anything else.

:12:06. > :12:10.Ultimately, the polls are neck and neck and I think they are likely to

:12:11. > :12:13.remain that. Let's talk about Deutsche Bank, over

:12:14. > :12:16.the weekend there was speculation about whether or not they would

:12:17. > :12:26.receive state aid if they needed some. As I spoke to you earlier, he

:12:27. > :12:29.said that is always dangerous, the minute simply says we will not help

:12:30. > :12:31.them. Apps nobody had been asking the question. Shares were down

:12:32. > :12:36.significantly yesterday, this morning they are up a little. I

:12:37. > :12:40.would not treat too much into that. There significant parallels to 2008,

:12:41. > :12:44.the Royal Bank of Scotland and concerns about bad bank. They

:12:45. > :12:49.announced a rights issue in response to concerns about their fiscal

:12:50. > :12:55.position. It is a similar situation at Deutsche Bank, the fine from the

:12:56. > :13:01.US Department of Justice, $14 billion. Its market cap is 14.5

:13:02. > :13:05.billion euros. So they could not meet that. They will not be able to

:13:06. > :13:09.provide the full amount, they have only provided about 5 billion new

:13:10. > :13:15.rose for various litigation cases currently under way. Mat about 5

:13:16. > :13:20.billion euros. There were significant concerns about how they

:13:21. > :13:24.would pay any fine. They are such a huge bug, it is so crucially

:13:25. > :13:29.important, why do you think Angela Merkel has said they will not give

:13:30. > :13:36.them state aid? I think it is more political. She has an election,

:13:37. > :13:39.there is what is going on in Italy. Germany are insisted that Mr Renzi

:13:40. > :13:43.does not bail out the Italian banks, so they cannot say that they will

:13:44. > :13:48.bail out Deutsche Bank but they cannot bail out the Italian banks.

:13:49. > :13:53.They are in a cul-de-sac of their own making. I like that phrase.

:13:54. > :13:57.Michael, you will be back in around five minutes, we have more stories

:13:58. > :13:58.to discuss with Michael, but we have lots more to come.

:13:59. > :14:00.Still to come, cracking the code of entrepreneurial success!

:14:01. > :14:03.Later in the programme we'll get the Inside Track on a business

:14:04. > :14:10.which is giving a boost to London's whiz-kid programmers.

:14:11. > :14:13.And now a look at some of the stories from around the UK

:14:14. > :14:18.and the first shipment of US shale gas is arriving in Scotland.

:14:19. > :14:20.A tanker is bringing ethane to the Grangemouth refinery,

:14:21. > :14:24.run by the petrochemicals firm Ineos.

:14:25. > :14:27.Victoria Fritz is by the Firth of Forth to see the tanker arrive.

:14:28. > :14:29.Why are they shipping gas from the US?

:14:30. > :14:35.And also are you warm enough? I'm very warm. Good morning to you

:14:36. > :14:39.both. Good morning, Rachel, good morning, Sally. Well, you can just

:14:40. > :14:43.see it. This is the boat arriving. It has made its stop at Grangemouth

:14:44. > :14:49.Port just a little way up the river and it is now heading back out to

:14:50. > :14:53.the ocean already. This is the very first shipment of US shale gas to

:14:54. > :14:59.Scotland and the reason it is coming from the Atlantic is because there

:15:00. > :15:03.is a moratorium on fracking in Scotland and despite a lot of

:15:04. > :15:07.political discourse in England as well, there has yet to be a green

:15:08. > :15:13.light when it comes to fracking in England either. So at the moment the

:15:14. > :15:17.only place the company says it can get its shale gas it is from the

:15:18. > :15:20.United States. It seems like a very big move, but they say the gas is

:15:21. > :15:25.crucial for the health of the Grangemouth plant where it processes

:15:26. > :15:28.pet tro chemicals used for the manufacturing of food packaging and

:15:29. > :15:32.plastics that are used in bottles and pipes as well. So they say they

:15:33. > :15:36.need this gas and if they have to go to the US to get it, that's where

:15:37. > :15:40.they will go. At the same time, Victoria, it is

:15:41. > :15:43.very controversial, isn't it? Many are arguing we shouldn't be going

:15:44. > :15:47.down this road at all? Yeah, exactly. Some people are saying

:15:48. > :15:50.perhaps this is the solution to our energy problem in the UK. Others are

:15:51. > :15:55.saying that it sets a dangerous precedent. There have been reports

:15:56. > :15:57.of environmental concerns over in the United States, things like

:15:58. > :16:02.leaching of chemicals into the ground water system. Even earth

:16:03. > :16:08.tremors as well. Now, there is tighter regulation that is proposed

:16:09. > :16:11.around the industry in the UK than in the US. But lots of people saying

:16:12. > :16:16.there is not the reserves here in the UK that there is in the US. So

:16:17. > :16:20.until such time the reserves are proven, it seems that fracking here

:16:21. > :16:23.in the UK is going to be on hold and we're still going to see more of

:16:24. > :16:28.these tankers going back and forth across the oceans, well at least for

:16:29. > :16:32.sometime to come. Victoria, we will you soon, probably

:16:33. > :16:43.in the studio. Hopefully, a bit warmer.

:16:44. > :16:48.Boohoo posted better results. Sales fuelled mainly by Sally Bundock!

:16:49. > :16:56.Our top story, the two US have faced off in the first

:16:57. > :17:02.Hillary Clinton attacked Donald Trump's policies on tax,

:17:03. > :17:04.while the Republican candidate pointed to what he described

:17:05. > :17:06.as the "economic devastation" that resulted from the North American

:17:07. > :17:14.Free Trade Agreement signed by Bill Clinton.

:17:15. > :17:20.Yes, two more debates to come. Yes, no more to say about that really,

:17:21. > :17:24.now, is there? No! We have said enough. The markets

:17:25. > :17:29.quite a different picture to yesterday. We're seeing upside for

:17:30. > :17:36.most of the main markets in Europe. Germany closing down 2% on Monday.

:17:37. > :17:41.So at the moment the DAX is up by a quarter of a percent. We were hoping

:17:42. > :17:46.to show you figures, but we can't. They are all up across Europe.

:17:47. > :17:49.And now let's get the inside track on Europe's tech sector.

:17:50. > :17:52.It may contain some of the world's leading economies, but Europe is not

:17:53. > :17:55.keeping up with countries like the US and China when it comes

:17:56. > :17:59.So how can Europe help cultivate the next Google or Facebook?

:18:00. > :18:02.Entrepreneur First is an accelerator company which helps high growth tech

:18:03. > :18:05.The firm mainly takes talented individuals before

:18:06. > :18:08.they have a team or an idea, spending six months with them to get

:18:09. > :18:14.them to the point where they can take on serious seed funding.

:18:15. > :18:17.The founders of Entrepreneur first have also set up Code First: Girls

:18:18. > :18:20.which works on attracting more female talent to the programme.

:18:21. > :18:23.Entrepreneur First were initially solely located in London

:18:24. > :18:27.But they've just opened a new office in Singapore which hopes to emulate

:18:28. > :18:38.Joining us now is Alice Bendinck, co-founder of Entrepreneur First.

:18:39. > :18:45.Good morning. Good morning. Welcome to the programme. Thank you. Just

:18:46. > :18:49.tell us how did this begin? Five years ago, if you looked at the kind

:18:50. > :18:53.of people that were starting start-ups in London and in Europe in

:18:54. > :18:57.general, it typically wasn't individuals with a technical

:18:58. > :19:01.background. So in particular a computer science or engineering

:19:02. > :19:04.background. Over the last five years we have tried to highlight the

:19:05. > :19:07.founder of a start-up can be one of the most exciting career paths for

:19:08. > :19:12.those with a technical background. If you look at many of the biggest

:19:13. > :19:17.start-ups build in the US, if you think about Microsoft or Facebook or

:19:18. > :19:20.Google, those founders come from computer science backgrounds

:19:21. > :19:23.typically and typically what we were seeing in London was people with

:19:24. > :19:26.computer science and engineering backgrounds were going to the

:19:27. > :19:32.financial sector or more traditional companies. Why weren't they starting

:19:33. > :19:37.start-ups then? If you look back five years ago, there wasn't really

:19:38. > :19:40.an awareness that you could start up a start-up, straight out of

:19:41. > :19:44.university or straight out of a couple of years in a job, there

:19:45. > :19:50.wasn't really a culture around starting a start-up. Technology, it

:19:51. > :19:54.is easier to start a start-up almost from your bedroom in terms of being

:19:55. > :20:02.able to access millions of users with little capital to get started.

:20:03. > :20:08.You set up Code First: Girls Because you felt there wasn't enough females

:20:09. > :20:12.coming through. It starts on university campuses. Is that not too

:20:13. > :20:17.late to reach girls who have given up maths and given up on sciences.

:20:18. > :20:23.The issue with girls we go down the arts route. Is university not too

:20:24. > :20:28.late, should you not be aiming for schools? We should be aiming for

:20:29. > :20:33.schools, but it will be a decade before we see those young women

:20:34. > :20:38.joining the workforce. Many of them come from arts backgrounds, history

:20:39. > :20:42.or Spanish and they are not necessarily from these backgrounds,

:20:43. > :20:47.but that doesn't mean they can't learn to you to programme and build

:20:48. > :20:52.their own apps and own software. You don't need a maths background. If

:20:53. > :20:55.you are one of these people who want to start something as it were, you

:20:56. > :20:58.join your programme, Entrepreneur First, you're in this incubator for

:20:59. > :21:02.six months. Talk us through how that works. What do you want from that

:21:03. > :21:06.individual? Do they have to sign up? Do they have to pay? How does it

:21:07. > :21:09.work. We take them before they have a team and before they have an idea.

:21:10. > :21:14.We make an investment in their company. We invest in their company

:21:15. > :21:17.as they go through the programme. We help them find a co-founder and

:21:18. > :21:21.build their team around them. We help them build their first product.

:21:22. > :21:23.You have got to believe in their company, whatever it is you think

:21:24. > :21:29.they're going to start, you need to take that on board knowing it will

:21:30. > :21:33.become a success? No, no, we take them just based on their individual

:21:34. > :21:39.talent. We are looking at the quality of their technical skills

:21:40. > :21:42.and founder skills. We are a company builder rather than a company

:21:43. > :21:47.investor. Does that mean that you own part of what they create? Yes,

:21:48. > :21:51.we do, yeah. We take 8% of the companies that come through and we

:21:52. > :21:56.invest in them at two points during the programme. So how did you get

:21:57. > :22:01.involved? You look very young to me. Has that been a barrier for you at

:22:02. > :22:05.all or not? The tech industry is a relatively young industry. And I

:22:06. > :22:11.suppose one of the things that I think helped me and my co-founder

:22:12. > :22:14.and we see helped the people go through EF is naive optimism. Not

:22:15. > :22:17.necessarily knowing how things are meant to work and what the status

:22:18. > :22:21.quo are and saying things could be done differently, why are they done

:22:22. > :22:25.this way? Some of our most successful companies have come from

:22:26. > :22:29.that naive optimism where they don't know anything great. That's great. A

:22:30. > :22:33.bit of naive couldn't meusm and we'll get to the cul-de-sac later!

:22:34. > :22:44.Thank you for coming in, Alice. In a moment we'll take a look

:22:45. > :22:48.through the Business Pages but first here's a quick reminder of how

:22:49. > :22:55.to get in touch with us. Wep keep you up-to-date with the

:22:56. > :23:02.latest news. And we want to hear from you too. Get involved on the

:23:03. > :23:08.BBC Business Live web page at: On Twitter, we're at:

:23:09. > :23:11.And you can find us on Facebook at: Business Live, on TV and online

:23:12. > :23:17.whenever you need to know. Michael Hewson from CMC Markets

:23:18. > :23:27.is joining us again to discuss. We want to look at this story we saw

:23:28. > :23:30.about, my Mandarin maybe questionable. It is a Chinese hunger

:23:31. > :23:35.for Australian foods. So people in for Australian foods. So people in

:23:36. > :23:37.China are wanting products sold in Australia, baby milk, beauty

:23:38. > :23:46.products, fashion items, this sort of thing, and they are commissioning

:23:47. > :23:51.people in Australia, who are called the Daigou and they are buying the

:23:52. > :23:53.products, charging 50% mark-up and shipping them to China and the

:23:54. > :24:03.Australian Government said they think they are missing out on 1

:24:04. > :24:08.billion in tax. This story speaks to Chinese tourists hunger for overseas

:24:09. > :24:13.goods. It is cheaper to buy fashion goods, but also food stuffs overseas

:24:14. > :24:17.because of import tariffs imposed by Chinese authorities. And also I

:24:18. > :24:25.think there is, I think there is an issue of what I would call

:24:26. > :24:33.authenticity, koufrt goods. Counterfeit goods. US manufacturers

:24:34. > :24:37.in China manufacture typical brand names, but they are of a lesser

:24:38. > :24:40.quality than the goods you get in Australia or Hong Kong. The Chinese

:24:41. > :24:45.tourists go abroad and buy them and ship them back and the mark-up is

:24:46. > :24:52.such that ultimately it still works out cheaper. And our shopping habits

:24:53. > :24:57.are changing and a lot is down to Amazon. Sainsbury's one hour

:24:58. > :25:01.delivery service on a bike trying to compete with Amazon. We have had a

:25:02. > :25:09.lot of viewers come in with their tweets. Tell us about this, Michael.

:25:10. > :25:12.It is a one hour delivery service. Shoppers can order 20 items to be

:25:13. > :25:16.delivered within an hour. Sainsbury's are going back to the

:25:17. > :25:20.future with this. They last made deliveries on a bike 130 years ago

:25:21. > :25:23.this. Is trying to kate tore a need that's not there. They are trying to

:25:24. > :25:28.take on Amazon. We are talking about fresh fruit and vegetables. I don't

:25:29. > :25:33.know about you, but me, I like to feel the fruit and veg before I buy

:25:34. > :25:39.it. And smell it! Catering to a need that's not there. Agree with that

:25:40. > :25:43.Michael. Emmanuel says, "One day delivery, that's his favourite thing

:25:44. > :25:44.all the way. ." Thank you for watching. We will see you again

:25:45. > :25:54.tomorrow. Bye-bye. Hello some sunshine on offer across

:25:55. > :25:55.the northern half