:00:00. > :00:00.This is Business Live from BBC News with Ben Thompson and Sally Bundock.
:00:07. > :00:16.Investors are looking for continuity. Bilby Central bank boss
:00:17. > :00:19.to liver? Live from London, that's our top
:00:20. > :00:34.story on Tuesday 4th October. India is a glimmer of hope
:00:35. > :00:37.in an uncertain global economy. We'll find out what's at stake
:00:38. > :00:40.when the central-bank governor It's quintessentially British,
:00:41. > :00:48.but it's got a new Asian owner. Cath Kidston is snapped up by a Hong
:00:49. > :00:57.Kong investment firm for $320m. And we'll have the latest
:00:58. > :00:59.from the markets as sterling It's now below the lowest point seen
:01:00. > :01:03.immediately after the But that's prompted the Ftse to open
:01:04. > :01:09.above 7,000 for the first We meet the man who says
:01:10. > :01:19.getting a new job is all about finding the perfect match
:01:20. > :01:21.for employers and employees. Have you used social media
:01:22. > :01:29.to help you find a job, or do you prefer the
:01:30. > :01:53.old-fashioned methods? Any job offers for us, use the
:01:54. > :01:55.hashtag! We do come as a pair! You get both of us, too for the price of
:01:56. > :01:57.one! We're starting today in India,
:01:58. > :01:59.where it's a big day for what is the world's
:02:00. > :02:01.fastest-growing major economy. The newly-appointed boss
:02:02. > :02:03.of its powerful central bank is getting ready to make his first
:02:04. > :02:06.policy decision since taking office. That will happen in a few hours,
:02:07. > :02:09.and it will be closely watched. That's because, as global growth
:02:10. > :02:12.stalls, India is seen as one of the few bright spots
:02:13. > :02:17.in an otherwise gloomy picture. In 2015, the Indian economy grew
:02:18. > :02:22.by 7.6% and now outstrips its great One of the factors behind India's
:02:23. > :02:28.development is the country's On average, India's population
:02:29. > :02:33.continues to get younger By 2050, the UN says it
:02:34. > :02:38.will have a working-age population of 1.1 billion people,
:02:39. > :02:41.that's over four times the size of the combined
:02:42. > :02:46.North American workforce. India may have cured the problem
:02:47. > :02:50.of runaway inflation, but concerns still remain that
:02:51. > :02:54.India's banks have bad debts, and that Prime Minister Narendra
:02:55. > :02:56.Modi's reform programme Russ Mould is with me now,
:02:57. > :03:17.he is investment director Then outlined some of the issues,
:03:18. > :03:20.but India is an enormous country with a huge population, there is so
:03:21. > :03:26.much going on. In terms of the central bank, will we see no change
:03:27. > :03:30.in rates? There is a strong feeling that if the new governor does not
:03:31. > :03:35.move today, there will be a cut in December. It is not just his
:03:36. > :03:41.decision now. We have got a six person committee deciding when --
:03:42. > :03:47.what the rates will be. That is interesting, because the previous
:03:48. > :03:53.central bank governor was seen as a rock star governor. Very
:03:54. > :03:58.opinionated! He did not line up with the reform programme. Disagreement
:03:59. > :04:02.there. What about this committee? It is not just about his choice. The
:04:03. > :04:11.previous governor only serve one term. Mr Patel was his deputy, so
:04:12. > :04:18.there is a degree of continuity. The other five governors have been hand
:04:19. > :04:24.packed by the administration, but the governor had the casting vote.
:04:25. > :04:29.There is some consistency, but Rajan was a loose cannon anyway. We have
:04:30. > :04:33.had two cuts in the last year and a bit, when disconnect could come?
:04:34. > :04:41.Inflation is pretty much bang on the target. I talked about a glimmer of
:04:42. > :04:48.hope, when it comes to India, the economic picture is very different.
:04:49. > :04:53.7% growth. It is a different prop. For the central bank, it is trying
:04:54. > :05:01.to manage the growth and manage the growing population in a way that
:05:02. > :05:07.other economies are. India ranked 130th in the ease of business
:05:08. > :05:11.report, right down there with... You not surrounded by economic
:05:12. > :05:15.luminaries. There are big challenges, which monetary policy
:05:16. > :05:19.will not be able to X on its own. How far can the reform programme be
:05:20. > :05:24.pushed? There have been some knobs and buttons on the way. The new boss
:05:25. > :05:30.of the reserve bank of Australia, his job today, they kept rates on
:05:31. > :05:34.hold there, but as all of these new chiefs, into play, there is a big
:05:35. > :05:40.debate about central bank action worldwide. He has a massive job on
:05:41. > :05:44.his hands, Glenn Stevens was not the rock star, but he saw 100
:05:45. > :05:49.consecutive quarters of GDP growth, so the newcomer has a big act to
:05:50. > :05:53.follow. No change there, but they are pricing in a rate cut within 12
:05:54. > :05:56.months. The fact we are talking about rate cuts is interesting, I
:05:57. > :06:02.was at a conference last week, somebody said there have been over
:06:03. > :06:08.670 cuts since 2008. Worldwide. Not just in Australia! We still talking
:06:09. > :06:12.about more and are still complaining about slow growth, things not
:06:13. > :06:18.meeting their so there is a debate, can monitor plus seat do it on its
:06:19. > :06:25.own? So that is why we look to for more fiscal stimulus. When we hear
:06:26. > :06:29.from the reserve bank of India, we will update you.
:06:30. > :06:31.I know you love a story about central banks. Someone has two!
:06:32. > :06:34.Tech giant Google is expected to launch two new smartphones later.
:06:35. > :06:37.Reports say that the Nexus smartphones will be replaced
:06:38. > :06:39.with the Pixel and Pixel XL, which will have more-powerful
:06:40. > :06:43.processors, better cameras and extended battery life.
:06:44. > :06:46.The launch event will take place in San Francisco.
:06:47. > :06:48.Google is also expected to launch a device to manage systems
:06:49. > :06:54.Samsung might be known for TVs and smartphones, but its push
:06:55. > :06:59.It's hoping to raise around $2 billion in what could be
:07:00. > :07:01.South Korea's third-largest ever public listing.
:07:02. > :07:07.The share sale will fund new research and help boost capacity.
:07:08. > :07:09.It comes as the firm's electronics division faces the mounting cost
:07:10. > :07:16.of recalling millions of Galaxy Note 7 smartphones over safety fears.
:07:17. > :07:18.There's been a setback for Republican Presidential
:07:19. > :07:23.His charitable foundation has been ordered to stop fundraising
:07:24. > :07:25.by New York's Attorney-General, who says it isn't
:07:26. > :07:30.A spokeswoman for Mr Trump says the move is politically motivated,
:07:31. > :07:32.since the Attorney-General is a Democrat.
:07:33. > :07:35.But it comes as Mr Trump grapples to regain ground
:07:36. > :07:38.after a New York Times report suggested he may have avoided paying
:07:39. > :07:54.Our page is dominated to a degree by what the pound sterling is doing and
:07:55. > :08:00.what the FTSE 100 is doing. This chart is of the pound sliding to a
:08:01. > :08:06.31 year low earlier today. As low as $1 27. This is off the back of
:08:07. > :08:14.concern about how this economy will fare once we have left the EU.
:08:15. > :08:19.Whether it is a hard or soft Brexit. From Ericsson, telling Swedish
:08:20. > :08:25.television that it will cut between three and 4000 jobs as part of its
:08:26. > :08:32.$1 billion global cost-cutting programme. The company has about
:08:33. > :08:36.116,000 staff right around the world, 15,000 of them are in Sweden.
:08:37. > :08:39.Reports coming in two 4000 jobs could go at Ericsson.
:08:40. > :08:42.Cath Kidston, the brand famous for its floral
:08:43. > :08:53.The British firm has 70% of its stores outside
:08:54. > :08:57.the UK, and is now eyeing big global expansion.
:08:58. > :09:01.Sarah Toms has the details from Singapore, because the new owner
:09:02. > :09:21.Yes, the company sells accessories and homeware, and it will expand in
:09:22. > :09:27.Asia. It has been taken over by a Hong Kong-based investment firm.
:09:28. > :09:32.Baring Private Equity paid an undisclosed sum, and it has
:09:33. > :09:36.identified Asia as the key market. 70% of the shops are outside the UK,
:09:37. > :09:44.and it already has 133 shops in Asia. It will be opening some -- one
:09:45. > :09:50.in India later this year. The firm took a stake in the company, seeing
:09:51. > :09:57.the potential for 100 stores in China, and the website at the moment
:09:58. > :10:01.only list one store in China. A city about 60 miles west of Shanghai. We
:10:02. > :10:09.might see some more cropping up in the not so distant future. One we
:10:10. > :10:14.will talk about a game soon. You saw some of the numbers there on
:10:15. > :10:21.the screen. A slightly stronger session, especially in Tokyo, backs
:10:22. > :10:23.to the rally from the banks. The weaker currency giving a boost to
:10:24. > :10:26.exporters. The pound has taken another turn
:10:27. > :10:28.for the worse. That's below the low point it hit
:10:29. > :10:33.immediately after the result of the EU referendum and the lowest
:10:34. > :10:41.level against the dollar since 1985. Deutsche Bank's shares back
:10:42. > :10:43.in the spotlight again today after the rally on Friday that saw
:10:44. > :10:57.a 14% swing in the share price. It swung the other way on those
:10:58. > :11:06.incorrect report. It saw some big moves last week. We
:11:07. > :11:20.will talk about that again. Republican Vice President shall
:11:21. > :11:24.nominate Mike pence and Tim Kane will hold their first and only
:11:25. > :11:31.debate at Longwood University in Virginia. It will be divided into
:11:32. > :11:36.nine segments, of approximately ten minutes each. International trade is
:11:37. > :11:39.likely to come up. While many tech businesses are migrating to the
:11:40. > :11:45.cloud, it seems Google is going the other way. They will be unveiling
:11:46. > :11:46.new devices at a San Francisco event, where it will launch the
:11:47. > :11:51.first smartphone that carries its first smartphone that carries its
:11:52. > :11:57.own brand. It is also likely to show off a home gadget that compete with
:11:58. > :12:01.Amazon's capital letter macro echo. Brazil's industrial data will show a
:12:02. > :12:05.drop of more than 3%. A decrease in car output is fuelling expectations
:12:06. > :12:09.the economy will not return to growth until the fourth quarter.
:12:10. > :12:11.Joining us is Tom Stephenson, who is director at Fidelity
:12:12. > :12:24.Give us your take on the pound sinking again and the FTSE 100
:12:25. > :12:30.rising, closing above 7000 for the first time in quite some time. They
:12:31. > :12:35.tend to move in opposite directions, because the FTSE 100 is a big
:12:36. > :12:39.international index with a lot of exporters and overseas earners, so
:12:40. > :12:42.as the pound weakens, and we are seeing it at its lowest since the
:12:43. > :12:46.mid-19 80s against the dollar, that is quite good news for big UK
:12:47. > :12:53.companies. I am not surprised to see the foot to 100 up, but it is close
:12:54. > :12:57.to its all-time high, just over 7100, so we are within 40 or 50
:12:58. > :13:04.points of that. A lot of people on both sides of the Brexit camp will
:13:05. > :13:08.seize on this, because some say the market is doing well, but there has
:13:09. > :13:13.been a massive devaluation of sterling, which makes things look
:13:14. > :13:17.better. There is lots to worry about, and that is why the pound
:13:18. > :13:21.sterling has fallen. We had this phoney war situation over the
:13:22. > :13:25.summer, when things have looked OK and people have pretended there is
:13:26. > :13:31.not a problem, but just naming the date, is to reason may did, has
:13:32. > :13:36.reminded people that from next March we have got a two-year period in
:13:37. > :13:39.which we have to rearrange our whole ownership with Europe, that will be
:13:40. > :13:44.very tight, and a lot of uncertainty. For small businesses
:13:45. > :13:47.exporting and importing, managing the next couple of years with
:13:48. > :13:55.sterling all over the place will be a headache. There are winners and
:13:56. > :14:00.losers. If you are importing goods, you are a retailer, it is a problem,
:14:01. > :14:04.because things become much more expensive as the pound weakens.
:14:05. > :14:10.There are definitely winners and losers. We will see you soon, some
:14:11. > :14:14.interesting stories to talk to you about later.
:14:15. > :14:18.Keep your comments come again about whether you have used social media.
:14:19. > :14:24.Lucy says most of her work came via Twitter. Roman, I found a job
:14:25. > :14:28.through a social network, better help has I had a friend who works at
:14:29. > :14:30.Facebook. Let us know whether you have used social media to find a
:14:31. > :14:31.job. We meet the man who wants to change
:14:32. > :14:38.the way we find and apply for jobs. And it's all about finding
:14:39. > :14:40.your perfect match. You're with Business Live from BBC
:14:41. > :14:47.News. Cake and sausage-roll giant Greggs
:14:48. > :15:01.has its figures out this But they are going into more
:15:02. > :15:09.healthier options. I don't see this. Andrew, the point
:15:10. > :15:13.of somewhere like there is you can get the pie or pasty or lunch, but
:15:14. > :15:17.they say that the future is healthy snacks.
:15:18. > :15:27.Indeed, the phrase they use is "Balances choices options." They
:15:28. > :15:30.have been doing salads and yoghurts and they have launched their autumn
:15:31. > :15:35.and winter options which will include a lot of bakes and soups,
:15:36. > :15:39.but the idea is lower calorie and more, if you like, healthy choices.
:15:40. > :15:44.The company says that it is very much been trading in line with
:15:45. > :15:49.expectations. Sales, total sales over the 13 weeks to the beginning
:15:50. > :15:56.of October up 5.6%. Like for like sales up 2.8%. A programme of shop
:15:57. > :16:01.openings going ahead, 103 so far this year with 58 closures. So
:16:02. > :16:05.clearly, the business is on a plan of expansion. Interesting to look at
:16:06. > :16:10.what happened to the share price since the referendum. Greggs, unlike
:16:11. > :16:14.some of those companies you were talking about now, is very much a UK
:16:15. > :16:17.consumer focussed company and there were concerns that the referendum
:16:18. > :16:21.result might hit consumer confidence and here we have the share price
:16:22. > :16:26.falling sharply in the aftermath of the vote. When those concerns about
:16:27. > :16:30.consumer confidence turned out to have no foundation so far, or little
:16:31. > :16:33.foundation so far, share prices recovered and we're almost up to the
:16:34. > :16:39.prereferendum levels of Greggs shares. Thank you very much indeed.
:16:40. > :16:43.Andrew Walker there from our business unit who when he arrived
:16:44. > :16:51.this morning, his backpack was full of fresh fruit. Into sign of any
:16:52. > :16:56.pasties. Not a sausage roll. There is a lot of quotes on our
:16:57. > :17:02.website from Prime Minister, Theresa May.
:17:03. > :17:07.Talking in more detail about the approach to Brexit talks. Every
:17:08. > :17:10.singing comment is being dissected. I loved her comments to the show
:17:11. > :17:13.this morning, asked what's the biggest surprise was as a new Prime
:17:14. > :17:23.Minister. What she was surprised by the job? Well, apparently it is the
:17:24. > :17:27.number of selfies. No one asked her when she was Home Secretary!
:17:28. > :17:37.India's Central Bank boss is getting ready to make his first
:17:38. > :17:39.major policy decision since his recent appointment.
:17:40. > :17:41.Investors will be watching for clues about the future
:17:42. > :17:46.direction of the world's fastest-growing major economy.
:17:47. > :17:51.A quick look at how markets are faring.
:17:52. > :17:57.The FTSE 100 stealing the headlines. Still above 7,000. Opened above
:17:58. > :18:03.7,000 for the first time in many months. A very weak pound causing
:18:04. > :18:08.shares to go higher. So as the exchange rate falls as the
:18:09. > :18:13.pound weakens, you can see the FTSE 100 strengthen there. Up 1%.
:18:14. > :18:15.Now, ever fancied a change of career?
:18:16. > :18:17.But don't really know where to start the job hunt?
:18:18. > :18:20.Well, our next guest says it's not just about your would-be
:18:21. > :18:26.The jobs website Jobbio says it's a career marketplace.
:18:27. > :18:28.Each company it hosts has a profile page where it
:18:29. > :18:39.Jobseekers then can connect with a company by following them
:18:40. > :18:41.opening up a two-way channel for both parties to "get
:18:42. > :18:44.Currently Jobbio has 3,000 companies using its platform including eBay,
:18:45. > :18:47.Airbnb, and Intel and operates in the US, UK and Ireland.
:18:48. > :18:50.Jobbio is hoping to double its workforce in the next year
:18:51. > :19:10.And US while also opening a Toronto hub.
:19:11. > :19:12.And it has just attracted new investment to the tune
:19:13. > :19:14.of $5.6million that will be used to expand the site,
:19:15. > :19:16.take on more staff and grow overseas.
:19:17. > :19:17.Stephen Quinn, founder and Chief Executive
:19:18. > :19:26.Your brother John, who can't be with us today is the other founder,
:19:27. > :19:33.isn't? He is indeed. He just became a dad. Is he watching? A two week
:19:34. > :19:37.old baby. Tell us about the website. You started this not long ago, I
:19:38. > :19:40.believe last year in Dublin and there are hundreds of recruitment
:19:41. > :19:45.websites out there. Why did you think it would be a good idea? I
:19:46. > :19:51.suppose when you look at space, there is lots going on, but actually
:19:52. > :19:56.the old world mechanisms are being used by companies on recruitment
:19:57. > :20:03.fees, a cost centre for businesses and we want to democratise the
:20:04. > :20:08.process. People should be able to look for a job and for a company to
:20:09. > :20:12.discover the right fit for them. It is about finding an employer that
:20:13. > :20:16.likes you and an employer you like. It is a two-way process. It sounds
:20:17. > :20:20.good in theory, how does it work in practise? Well, we did a lot of
:20:21. > :20:23.research into what people are looking for when they go to find a
:20:24. > :20:28.career that suits them. It is less about salary and more about ambition
:20:29. > :20:30.and career and you know the people they're working with, what they are
:20:31. > :20:35.doing day-to-day, where career progression and things like that and
:20:36. > :20:39.Jobbio allows you to show case your business in a way that can attract
:20:40. > :20:46.the most relevant person to the company. What is it in the firm? If
:20:47. > :20:49.you are getting the right person then turn over becomes less of a
:20:50. > :20:52.problem. If you get to market your brand to attract the right person to
:20:53. > :20:59.the role then a better fit often happens. Tell us how you make money?
:21:00. > :21:03.You mentioned that the high recruitment fees put employers off?
:21:04. > :21:07.Of course, yes. So it is a platform, it is a service model, you pay an
:21:08. > :21:11.annual subscription, you can start for as little as ?600 up to, it
:21:12. > :21:16.depends how many people you're connecting to. We don't charge for
:21:17. > :21:21.hire or job postings so you pay a fee to be on the platform, represent
:21:22. > :21:25.your company and the more people you connect to, the more you pay. The
:21:26. > :21:28.most companies you're working with at the moment are technology
:21:29. > :21:35.companies, but you've got a few in the leisure industry like big
:21:36. > :21:40.hotels? Yeah, the hospitality space and the technology space are the two
:21:41. > :21:44.took to us the quickest. They have more to show case, they are hiring,
:21:45. > :21:49.I suppose, both areas that are exploding. That's where the jobs
:21:50. > :21:53.are, that's where we're seeing it. An Irish business. I'm interested in
:21:54. > :21:56.your take on Brexit. We are talking about Theresa May setting a
:21:57. > :22:00.timetable now for when things might start happening. What does it mean
:22:01. > :22:04.for the jobs market and the number of people coming to the UK? We are
:22:05. > :22:08.all learning, but it is an economic reality now. The previous guest say
:22:09. > :22:14.there is a date in the diary now, the questions have ramped up for
:22:15. > :22:20.Theresa May apart from selfies, we are driven by our companies. Our
:22:21. > :22:23.customers are posting roles in countries across the world. They are
:22:24. > :22:27.still doing that and that hadn't changed. The funding to expand, you
:22:28. > :22:32.got after the Brexit vote? Just after it. It didn't change the
:22:33. > :22:35.investors minds. We're largely focussed on London. A lot of that
:22:36. > :22:38.funding, a lot of that investment will be in the UK. So that's very
:22:39. > :22:40.exciting. Interesting. Thank you very much indeed, Stephen for coming
:22:41. > :22:44.in. Thank you for having me. In a moment we'll take a look
:22:45. > :22:47.through the Business Pages but first here's a quick reminder of how
:22:48. > :22:50.to get in touch with us. The Business Live page
:22:51. > :22:52.is where you can stay ahead with all the day's
:22:53. > :22:54.breaking business news. We will keep you up-to-date
:22:55. > :22:57.with the latest details with insight and analysis from the BBC's team
:22:58. > :23:00.of editors right around the world Get involved on the BBC
:23:01. > :23:08.Business Live web page at: And you can find us
:23:09. > :23:12.on Facebook at: Business Live on TV and online
:23:13. > :23:33.whenever you need to know. We asked you if you would use social
:23:34. > :23:42.media or the internet to get a job. A viewer says we have used social
:23:43. > :23:49.media to recruit. Another viewer says, "I prefer to use the old
:23:50. > :23:52.methods." Handwritten with an ink pen.
:23:53. > :23:57.Tom Stephenson, Director at Fidelity Worldwide Investment joins us again.
:23:58. > :24:07.How did you apply for your jobs? I never used social media. A nice
:24:08. > :24:14.fountain pen. Is there a feeling that it is still the old boys
:24:15. > :24:19.network, it is a friend of a friend is that how it works? I look at the
:24:20. > :24:23.quality of the graduates we get in our business and I can't believe how
:24:24. > :24:27.good they are. They are more impressive than people of my
:24:28. > :24:30.generation! It is true, it is still true nonetheless that it is helpful
:24:31. > :24:34.to know the right people to get that foot in the door. That's key. I
:24:35. > :24:39.would agree with you on that one. Let's have a look at this story
:24:40. > :24:44.which is really interesting. There has been the launch of the movie
:24:45. > :24:48.that covers the Deepwater Horizon disaster, BP's incredible oil spill
:24:49. > :24:51.of some years ago. I remember it well, so do you Ben, we covered it
:24:52. > :24:57.every twist and turn. It was a great story. This is suggesting about
:24:58. > :25:01.whether Hollywood, it loves to portray big business, but bash
:25:02. > :25:08.capitalism because it is an easy whipping boy, sometimes. Well, it is
:25:09. > :25:12.and we have seen lots of films over the years that bashed big business.
:25:13. > :25:15.This has a combination of big business and the sort of towering
:25:16. > :25:20.inferno disaster movie as well. If you can put those two together,
:25:21. > :25:23.that's an attractive proposition because the trouble with a lot of
:25:24. > :25:26.these films about the financial disaster, it is difficult to
:25:27. > :25:29.explain, but when an oil rig is going up in flames, that's not
:25:30. > :25:35.difficult to explain. It is great film making. On this article, as
:25:36. > :25:41.well, it has the trailer from The Big Short and I think about the
:25:42. > :25:43.Steve Jobs film as well. There is so many films that are about
:25:44. > :25:49.significant stories in business. Tom, thank you for coming in today.
:25:50. > :25:54.Thank you for your company. Tomorrow, Sally and I will be back
:25:55. > :26:05.unless you want to send us a job. See you soon. Bye-bye.
:26:06. > :26:13.Hello there. Good morning. Our weather in just a moment. First of
:26:14. > :26:15.all an update an Hurricane Matthew sitting out in the Caribbean heading
:26:16. > :26:16.northwards.