04/10/2016 BBC Business Live

This is Business Live from BBC News with Ben Thompson and Sally Bundock.

Investors are looking for continuity. Bilby Central bank boss

to liver? Live from London, that's our top

story on Tuesday 4th October. India is a glimmer of hope

in an uncertain global economy. We'll find out what's at stake

when the central-bank governor It's quintessentially British,

but it's got a new Asian owner. Cath Kidston is snapped up by a Hong

Kong investment firm for $320m. And we'll have the latest

from the markets as sterling It's now below the lowest point seen

immediately after the But that's prompted the Ftse to open

above 7,000 for the first We meet the man who says

getting a new job is all about finding the perfect match

for employers and employees. Have you used social media

to help you find a job, or do you prefer the

old-fashioned methods? Any job offers for us, use the

hashtag! We do come as a pair! You get both of us, too for the price of

one! We're starting today in India,

where it's a big day for what is the world's

fastest-growing major economy. The newly-appointed boss

of its powerful central bank is getting ready to make his first

policy decision since taking office. That will happen in a few hours,

and it will be closely watched. That's because, as global growth

stalls, India is seen as one of the few bright spots

in an otherwise gloomy picture. In 2015, the Indian economy grew

by 7.6% and now outstrips its great One of the factors behind India's

development is the country's On average, India's population

continues to get younger By 2050, the UN says it

will have a working-age population of 1.1 billion people,

that's over four times the size of the combined

North American workforce. India may have cured the problem

of runaway inflation, but concerns still remain that

India's banks have bad debts, and that Prime Minister Narendra

Modi's reform programme Russ Mould is with me now,

he is investment director Then outlined some of the issues,

but India is an enormous country with a huge population, there is so

much going on. In terms of the central bank, will we see no change

in rates? There is a strong feeling that if the new governor does not

move today, there will be a cut in December. It is not just his

decision now. We have got a six person committee deciding when --

what the rates will be. That is interesting, because the previous

central bank governor was seen as a rock star governor. Very

opinionated! He did not line up with the reform programme. Disagreement

there. What about this committee? It is not just about his choice. The

previous governor only serve one term. Mr Patel was his deputy, so

there is a degree of continuity. The other five governors have been hand

packed by the administration, but the governor had the casting vote.

There is some consistency, but Rajan was a loose cannon anyway. We have

had two cuts in the last year and a bit, when disconnect could come?

Inflation is pretty much bang on the target. I talked about a glimmer of

hope, when it comes to India, the economic picture is very different.

7% growth. It is a different prop. For the central bank, it is trying

to manage the growth and manage the growing population in a way that

other economies are. India ranked 130th in the ease of business

report, right down there with... You not surrounded by economic

luminaries. There are big challenges, which monetary policy

will not be able to X on its own. How far can the reform programme be

pushed? There have been some knobs and buttons on the way. The new boss

of the reserve bank of Australia, his job today, they kept rates on

hold there, but as all of these new chiefs, into play, there is a big

debate about central bank action worldwide. He has a massive job on

his hands, Glenn Stevens was not the rock star, but he saw 100

consecutive quarters of GDP growth, so the newcomer has a big act to

follow. No change there, but they are pricing in a rate cut within 12

months. The fact we are talking about rate cuts is interesting, I

was at a conference last week, somebody said there have been over

670 cuts since 2008. Worldwide. Not just in Australia! We still talking

about more and are still complaining about slow growth, things not

meeting their so there is a debate, can monitor plus seat do it on its

own? So that is why we look to for more fiscal stimulus. When we hear

from the reserve bank of India, we will update you.

I know you love a story about central banks. Someone has two!

Tech giant Google is expected to launch two new smartphones later.

Reports say that the Nexus smartphones will be replaced

with the Pixel and Pixel XL, which will have more-powerful

processors, better cameras and extended battery life.

The launch event will take place in San Francisco.

Google is also expected to launch a device to manage systems

Samsung might be known for TVs and smartphones, but its push

It's hoping to raise around $2 billion in what could be

South Korea's third-largest ever public listing.

The share sale will fund new research and help boost capacity.

It comes as the firm's electronics division faces the mounting cost

of recalling millions of Galaxy Note 7 smartphones over safety fears.

There's been a setback for Republican Presidential

His charitable foundation has been ordered to stop fundraising

by New York's Attorney-General, who says it isn't

A spokeswoman for Mr Trump says the move is politically motivated,

since the Attorney-General is a Democrat.

But it comes as Mr Trump grapples to regain ground

after a New York Times report suggested he may have avoided paying

Our page is dominated to a degree by what the pound sterling is doing and

what the FTSE 100 is doing. This chart is of the pound sliding to a

31 year low earlier today. As low as $1 27. This is off the back of

concern about how this economy will fare once we have left the EU.

Whether it is a hard or soft Brexit. From Ericsson, telling Swedish

television that it will cut between three and 4000 jobs as part of its

$1 billion global cost-cutting programme. The company has about

116,000 staff right around the world, 15,000 of them are in Sweden.

Reports coming in two 4000 jobs could go at Ericsson.

Cath Kidston, the brand famous for its floral

The British firm has 70% of its stores outside

the UK, and is now eyeing big global expansion.

Sarah Toms has the details from Singapore, because the new owner

Yes, the company sells accessories and homeware, and it will expand in

Asia. It has been taken over by a Hong Kong-based investment firm.

Baring Private Equity paid an undisclosed sum, and it has

identified Asia as the key market. 70% of the shops are outside the UK,

and it already has 133 shops in Asia. It will be opening some -- one

in India later this year. The firm took a stake in the company, seeing

the potential for 100 stores in China, and the website at the moment

only list one store in China. A city about 60 miles west of Shanghai. We

might see some more cropping up in the not so distant future. One we

will talk about a game soon. You saw some of the numbers there on

the screen. A slightly stronger session, especially in Tokyo, backs

to the rally from the banks. The weaker currency giving a boost to

exporters. The pound has taken another turn

for the worse. That's below the low point it hit

immediately after the result of the EU referendum and the lowest

level against the dollar since 1985. Deutsche Bank's shares back

in the spotlight again today after the rally on Friday that saw

a 14% swing in the share price. It swung the other way on those

incorrect report. It saw some big moves last week. We

will talk about that again. Republican Vice President shall

nominate Mike pence and Tim Kane will hold their first and only

debate at Longwood University in Virginia. It will be divided into

nine segments, of approximately ten minutes each. International trade is

likely to come up. While many tech businesses are migrating to the

cloud, it seems Google is going the other way. They will be unveiling

new devices at a San Francisco event, where it will launch the

first smartphone that carries its first smartphone that carries its

own brand. It is also likely to show off a home gadget that compete with

Amazon's capital letter macro echo. Brazil's industrial data will show a

drop of more than 3%. A decrease in car output is fuelling expectations

the economy will not return to growth until the fourth quarter.

Joining us is Tom Stephenson, who is director at Fidelity

Give us your take on the pound sinking again and the FTSE 100

rising, closing above 7000 for the first time in quite some time. They

tend to move in opposite directions, because the FTSE 100 is a big

international index with a lot of exporters and overseas earners, so

as the pound weakens, and we are seeing it at its lowest since the

mid-19 80s against the dollar, that is quite good news for big UK

companies. I am not surprised to see the foot to 100 up, but it is close

to its all-time high, just over 7100, so we are within 40 or 50

points of that. A lot of people on both sides of the Brexit camp will

seize on this, because some say the market is doing well, but there has

been a massive devaluation of sterling, which makes things look

better. There is lots to worry about, and that is why the pound

sterling has fallen. We had this phoney war situation over the

summer, when things have looked OK and people have pretended there is

not a problem, but just naming the date, is to reason may did, has

reminded people that from next March we have got a two-year period in

which we have to rearrange our whole ownership with Europe, that will be

very tight, and a lot of uncertainty. For small businesses

exporting and importing, managing the next couple of years with

sterling all over the place will be a headache. There are winners and

losers. If you are importing goods, you are a retailer, it is a problem,

because things become much more expensive as the pound weakens.

There are definitely winners and losers. We will see you soon, some

interesting stories to talk to you about later.

Keep your comments come again about whether you have used social media.

Lucy says most of her work came via Twitter. Roman, I found a job

through a social network, better help has I had a friend who works at

Facebook. Let us know whether you have used social media to find a

job. We meet the man who wants to change

the way we find and apply for jobs. And it's all about finding

your perfect match. You're with Business Live from BBC

News. Cake and sausage-roll giant Greggs

has its figures out this But they are going into more

healthier options. I don't see this. Andrew, the point

of somewhere like there is you can get the pie or pasty or lunch, but

they say that the future is healthy snacks.

Indeed, the phrase they use is "Balances choices options." They

have been doing salads and yoghurts and they have launched their autumn

and winter options which will include a lot of bakes and soups,

but the idea is lower calorie and more, if you like, healthy choices.

The company says that it is very much been trading in line with

expectations. Sales, total sales over the 13 weeks to the beginning

of October up 5.6%. Like for like sales up 2.8%. A programme of shop

openings going ahead, 103 so far this year with 58 closures. So

clearly, the business is on a plan of expansion. Interesting to look at

what happened to the share price since the referendum. Greggs, unlike

some of those companies you were talking about now, is very much a UK

consumer focussed company and there were concerns that the referendum

result might hit consumer confidence and here we have the share price

falling sharply in the aftermath of the vote. When those concerns about

consumer confidence turned out to have no foundation so far, or little

foundation so far, share prices recovered and we're almost up to the

prereferendum levels of Greggs shares. Thank you very much indeed.

Andrew Walker there from our business unit who when he arrived

this morning, his backpack was full of fresh fruit. Into sign of any

pasties. Not a sausage roll. There is a lot of quotes on our

website from Prime Minister, Theresa May.

Talking in more detail about the approach to Brexit talks. Every

singing comment is being dissected. I loved her comments to the show

this morning, asked what's the biggest surprise was as a new Prime

Minister. What she was surprised by the job? Well, apparently it is the

number of selfies. No one asked her when she was Home Secretary!

India's Central Bank boss is getting ready to make his first

major policy decision since his recent appointment.

Investors will be watching for clues about the future

direction of the world's fastest-growing major economy.

A quick look at how markets are faring.

The FTSE 100 stealing the headlines. Still above 7,000. Opened above

7,000 for the first time in many months. A very weak pound causing

shares to go higher. So as the exchange rate falls as the

pound weakens, you can see the FTSE 100 strengthen there. Up 1%.

Now, ever fancied a change of career?

But don't really know where to start the job hunt?

Well, our next guest says it's not just about your would-be

The jobs website Jobbio says it's a career marketplace.

Each company it hosts has a profile page where it

Jobseekers then can connect with a company by following them

opening up a two-way channel for both parties to "get

Currently Jobbio has 3,000 companies using its platform including eBay,

Airbnb, and Intel and operates in the US, UK and Ireland.

Jobbio is hoping to double its workforce in the next year

And US while also opening a Toronto hub.

And it has just attracted new investment to the tune

of $5.6million that will be used to expand the site,

take on more staff and grow overseas.

Stephen Quinn, founder and Chief Executive

Your brother John, who can't be with us today is the other founder,

isn't? He is indeed. He just became a dad. Is he watching? A two week

old baby. Tell us about the website. You started this not long ago, I

believe last year in Dublin and there are hundreds of recruitment

websites out there. Why did you think it would be a good idea? I

suppose when you look at space, there is lots going on, but actually

the old world mechanisms are being used by companies on recruitment

fees, a cost centre for businesses and we want to democratise the

process. People should be able to look for a job and for a company to

discover the right fit for them. It is about finding an employer that

likes you and an employer you like. It is a two-way process. It sounds

good in theory, how does it work in practise? Well, we did a lot of

research into what people are looking for when they go to find a

career that suits them. It is less about salary and more about ambition

and career and you know the people they're working with, what they are

doing day-to-day, where career progression and things like that and

Jobbio allows you to show case your business in a way that can attract

the most relevant person to the company. What is it in the firm? If

you are getting the right person then turn over becomes less of a

problem. If you get to market your brand to attract the right person to

the role then a better fit often happens. Tell us how you make money?

You mentioned that the high recruitment fees put employers off?

Of course, yes. So it is a platform, it is a service model, you pay an

annual subscription, you can start for as little as ?600 up to, it

depends how many people you're connecting to. We don't charge for

hire or job postings so you pay a fee to be on the platform, represent

your company and the more people you connect to, the more you pay. The

most companies you're working with at the moment are technology

companies, but you've got a few in the leisure industry like big

hotels? Yeah, the hospitality space and the technology space are the two

took to us the quickest. They have more to show case, they are hiring,

I suppose, both areas that are exploding. That's where the jobs

are, that's where we're seeing it. An Irish business. I'm interested in

your take on Brexit. We are talking about Theresa May setting a

timetable now for when things might start happening. What does it mean

for the jobs market and the number of people coming to the UK? We are

all learning, but it is an economic reality now. The previous guest say

there is a date in the diary now, the questions have ramped up for

Theresa May apart from selfies, we are driven by our companies. Our

customers are posting roles in countries across the world. They are

still doing that and that hadn't changed. The funding to expand, you

got after the Brexit vote? Just after it. It didn't change the

investors minds. We're largely focussed on London. A lot of that

funding, a lot of that investment will be in the UK. So that's very

exciting. Interesting. Thank you very much indeed, Stephen for coming

in. Thank you for having me. In a moment we'll take a look

through the Business Pages but first here's a quick reminder of how

to get in touch with us. The Business Live page

is where you can stay ahead with all the day's

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Business Live web page at: And you can find us

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whenever you need to know. We asked you if you would use social

media or the internet to get a job. A viewer says we have used social

media to recruit. Another viewer says, "I prefer to use the old

methods." Handwritten with an ink pen.

Tom Stephenson, Director at Fidelity Worldwide Investment joins us again.

How did you apply for your jobs? I never used social media. A nice

fountain pen. Is there a feeling that it is still the old boys

network, it is a friend of a friend is that how it works? I look at the

quality of the graduates we get in our business and I can't believe how

good they are. They are more impressive than people of my

generation! It is true, it is still true nonetheless that it is helpful

to know the right people to get that foot in the door. That's key. I

would agree with you on that one. Let's have a look at this story

which is really interesting. There has been the launch of the movie

that covers the Deepwater Horizon disaster, BP's incredible oil spill

of some years ago. I remember it well, so do you Ben, we covered it

every twist and turn. It was a great story. This is suggesting about

whether Hollywood, it loves to portray big business, but bash

capitalism because it is an easy whipping boy, sometimes. Well, it is

and we have seen lots of films over the years that bashed big business.

This has a combination of big business and the sort of towering

inferno disaster movie as well. If you can put those two together,

that's an attractive proposition because the trouble with a lot of

these films about the financial disaster, it is difficult to

explain, but when an oil rig is going up in flames, that's not

difficult to explain. It is great film making. On this article, as

well, it has the trailer from The Big Short and I think about the

Steve Jobs film as well. There is so many films that are about

significant stories in business. Tom, thank you for coming in today.

Thank you for your company. Tomorrow, Sally and I will be back

unless you want to send us a job. See you soon. Bye-bye.

Hello there. Good morning. Our weather in just a moment. First of

all an update an Hurricane Matthew sitting out in the Caribbean heading

northwards.