20/10/2016 BBC Business Live


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


The final debate of the US presidential campaign is over -


but how much can either candidate do for the American economy?


Live from London, that's our top story on Thursday


Sparks fly over the US economy - but will it really


Airbnb faces a fight for survival in the Big Apple,


as the city's governor prepares to sign a bill that would restrict


the home-sharing company's business in New York City.


Here's how the markets look at the start of the day in Europe. Small


gains at the opening of the leading shares market in Frankfurt, slightly


down in Paris. Oil prices near a 15 month high which has helped the


Asian markets climb overnight, and we will be looking ahead to the


European Central Bank meeting coming later.


We meet the woman behind an app that lays out all the options -


whether at home or away - to make sure you always


I rely on the BBC make-up department for that!


regulation in New York City, today we want to know -


would you rather stay in a traditional


hotel or pay to stay in someone's home?


We start with the US election, and that third and final debate


overnight between presidential hopefuls Donald Trump


According to a recent poll, the economy remains the biggest


But how healthy is it, and how will it influence


According to the latest figures from the US Census Bureau -


household incomes rose 5.2% last year.


That was the first real increase since before the financial


Hispanic Americans actually saw their incomes rise faster


than whites, Black Americans slightly slower, but


This could be seen as positive for Clinton -


she's seen as inheriting the Obama legacy.


Take a look at the amount a white household earns


compared with a Hispanic or black household.


Donald Trump has argued the Democrats have


failed both groups - these figures could be seen


1.4 million people found permanent jobs last year.


The Democrats say the Obama years were the longest streak


Donald Trump has criticised the quality of jobs created.


Here's a figure that's difficult to argue with, though.


43.1 million Americans were living in poverty last year.


That's a slight improvement on the previous year


but still five million more than before the financial crisis.


Ironically, neither side has talked much about poverty.


But poor people are far less likely to vote than well off people.


Here's how the candidates clashed over the state of the economy.


What I am proposing is that we invest from the middle out and the


ground up, not the top down. That is not going to work. That is why what


I have put forward doesn't add a penny to the debt, but it is the


kind of approach that will enable more people to take those new jobs,


higher paying jobs. We are beginning to see some increase in incomes, and


we have certainly had a long string of increasing jobs. We have got to


do more to get the whole economy moving, and that is what I believe I


will be able to do. So I just left some high representatives of India.


They are growing at 8%. China is growing at 7%. And that for them is


a catastrophically low number. We are growing, our last report came


out at right around the 1% level and it is going down. At the end of last


week, they came out with an anaemic jobs report, a terrible jobs report.


I said, is that the last jobs report before the election? Because if it


is, I should win easily, it was so bad. So there you have it. That is a


snapshot of a 90 minute debate. Morris Reid is a partner


with the Mercury consultancy - he was an adviser to Bill Clinton


and has worked in global business He knows the Clinton family very


well. Good morning. Early-morning! You are pretty tired, because you


are watching the debate, as was I. What did you make of it? Both sides


did well. Donald Trump got his foot in, people thought he would be


rattled, I didn't think so. 18 days is a long way. Clinton did what I


thought she needed to do, she needs to be measured and really finish the


race all the way through to make sure the Democrats turn out to the


polls, so I thought they both did what they needed to do, and it will


turn to turn out in the key states. This debate was supposed to be about


the economy, jobs, welfare. They did talk about that, but they didn't


dedicate that much time to it, and I didn't learn anything new. The


problem is this has got to be so personal and political, you are not


able to really talk about real issues. They did a good job, better


than the other debates, of talking about the economy, but they could


have done a lot more. People like to know what is going on because at the


end of the day, it always comes down to the economy. The money in their


pocket? It is about how to have a better future for my kids, what will


tomorrow bring? If you are a presidential candidate, you need to


address that. They make for great telly, these personal clashes. Do


you think there is a danger that it turns people off? I was reading a


piece how there is a campaign for none of the above, they are trying


to encourage people, a plague on both your houses. There is voter


fatigue for sure, we spent two years running for president, so people are


either really excited to get it over or excited to turn the TV off, so


there is voter fatigue, but I think you will see voters going to the


polls in record numbers. Donald Trump has galvanised a new


population of voters, and Hillary Clinton being the first woman could


ring a lot of people to the polls. You worked with Bill Clinton for


both his campaigns. He coined the phrase that is now famous, it's the


economy, stupid. Is that the case this time around? It is always about


the economy. If you look at those five or six states, Hohaia, Florida,


Michigan, Pennsylvania, it is always about the economy, and that is what


I don't think Donald Trump has done. He is really trying to read it up in


these last few days, he has a chance. I don't believe this race is


over, it is a plus or -3 race. Hillary Clinton has got that leading


the polls, generally speaking, but the can be wrong. When the polls are


your side, you love them, when they are against you, you hate them. I


say they are a snapshot in time, and it doesn't mean what tomorrow will


bring. Just to say, whoever gets the job, there is always the issue of


what they can push through when they are in the role of President of the


United States because of the containment of house of Congress and


representatives, and who is doing what job. What impact will it have


on the world was my biggest economy? We are watching on the other side of


the pond with great interest at a critical time for Europe and Asia as


well. I actually think the Donald Trump will have a more uphill


battle. He is really taking on the establishment. They tend to not like


that. They will fight him all the way? I think they will. Hillary


Clinton is funny. If you talk to Republicans off-camera, they say she


is someone who will get things done. I think if she gets in, she will


focus on the first 100 days to prove her presidency will be something of


substance, something real. We appreciate you making time for us


today. I am going to go to bed now! I am going to be following you. Not


literally! Sally, this is a family show,


please! I have been up all night as well. It


is just the night shift, you know it is just the night shift, you know it


well, Ben. I am very familiar with it. Don't


leave, we haven't finished the programme.


Electric car maker Tesla says all cars it currently builds


will now have the hardware needed to drive autonomously.


Tesla introduced its Autopilot system last year, allowing some


self-drive functions such as auto-braking.


The latest technology will not be activated straight away -


initially it'll run in so-called shadow mode in order to gather


The European Central Bank is expected to keep policy unchanged


later today but is likely to hint at more stimulus measures


The ECB has been attempting to kick-start the European


with sub-zero interest rates, free loans to banks and pumping over


a trillion euros into the financial system via bond purchases.


Internet firm Yahoo has called on the United States government


to clarify the national security orders they issue


The call comes after Yahoo was accused of secretly scanning


millions of its users' email accounts on behalf of US


Now, this is a story we will talk about in more detail later in the


show, it is a tweet from Martha lane Fox. She was one of the two people


that set up the successful last-minute .com, she is a tech


guru, and she has taken a picture of the front page of the Financial


Times. BHP Billiton set a target 50% female staff by 2025. She says, if


mining can do it, surely tech can. We will talk more about that later.


Shares in Nintendo are up on the news that the games company


There is a huge amount of excitement about this new console, not just


among gamers but financial analysts as well. We saw Nintendo shares


jumping by 4% in Tokyo today, adding more than $1 billion in market


value. It is worth stating that Nintendo hasn't released a gaming


console since 2012, when they released the Wii U, so needless to


say this new product is long overdue, especially since we have


seen gaming shift from people's living rooms onto their smartphones.


So a lot of excitement but very few details. It is codenamed NX, and


will be released in March, but we know very little other than that and


we will see it later today. Nintendo say they will post a three minute


video on their website, so at 11pm Tokyo time or 10am New York time you


should be tuning in to their website, because the company said,


please take a look. I'm sure they want us all to take a look. Thank


you so much. Let's take a look at how the markets are doing.


Asian stocks rose as traders watched US presidential candidates


Hillary Clinton and Donald Trump debate economic policy.


On Wall Street, stocks rose as oil and gas exploration companies gained


The price of a barrel of crude is near a 15-month high.


Mike Amey, managing director and portfolio


He will talk us through the winners and losers. Did you watch the


debate? I will be totally honest, I did not. You slept! Good for you.


Somebody did ask me last night whether I would pull an all nighter


for the vote, which I guess one will have to. But for this one, I thought


I would rely on expert opinion such as yours. You are in the right


place! So what is grabbing your attention as far as markets are


concerned? Today it is about the European Central Bank, and what they


are going to do. They as with many other central banks have this


challenge of negative interest rates, so talking about the extremes


of monetary, and they are still struggling to get the inflation rate


up. We are looking for guidance as to whether they have any future


plans down the road. They have to bring out their future forecast next


month, so I think we are looking for frontrunning. Most analysts seem to


be expected to stick to the bond by, because the danger is that the


markets could get jittery. That is right, because they are already


buying 80 billion euros of bonds per month, so a huge amount of money,


and they have to do that is to keep interest rates low to support the


economy. The economy is doing OK in the context of European growth


rates. So once again, December, all eyes on the central bank. It is. So


much for December being a quiet month for us. Not any more! Mike,


you will be back shortly. He will talk BHP billet on and all sorts.


Still to come: Beauty at the tip of your fingers, we meet the maker of


an app that make sure no matter where you I'd get the treatment is


unique. This is Business Live from BBC News.


EDF has been asked to shutdown five nuclear reactors for safety tests.


They recently signed a contract to build Hinkley Point in the UK,


Britain's first new plant in 21 years. Andrew Walker is in the


business newsroom. What do you make of this? What has happened is the


regulator is concerned about, to be technical, the carbon content of


steel in the steam generators in some of these French nuclear power


plants. It has the potential to make it rather weaker than it should be


and ultimately with the risk of a leak or even explosions. It is a


wide issue. There have been other plants where EDF have been asked to


undertake similar tests to establish the safety of generators. The


company says much of this work will be conducted during routine


maintenance periods, not all of it, some of it is being brought forward


but some conducted during routine maintenance. They said it will not


affect their output projections for the rest of the year. All right.


Thanks. EDF, an interesting story. Also in focus is Heathrow. They


released their financial results. A strong performance with revenue up


2% up to 2 billion adjusted. They are doing well with an OK financial


performance but today when they came out with their results they kind of


used it as an excuse to make the case for an extra runway. There have


been speculation about whether we would get the decision on expansion.


We know now it will be delayed until the Cabinet subcommittee discusses


it further. They will look to make the case strongly, as will Gatwick,


the main rival to get the go-ahead for the new runway. The boss of


Heathrow went on the Today programme on and said there is massive support


for Heathrow expansion I guess he feels his case is very strong. I


have spoken to the boss of Gatwick and they feel they have a strong


case and Gatwick implying if they do not get the green light for


government led expansion it is something they might consider doing


by themselves. A reminder of our top story: Jobs,


taxes and growth have featured in the final debate


of the US presidential campaign. If you missed it and want to know


more, there is so much on our website and probably every other


website in the world, so dig deep. A quick look at how


markets are faring. A flat and mixed picture. The big


event for Europe is the European Central Bank meeting and join us


later today as we update you on that.


The UK beauty industry is worth some $21 billion,


with UK consumers spending an average of $422 per person


on beauty and skincare last year - a record high.


Wanting to take a bite of this market is Missbeez,


a mobile app for beauty services on demand.


Originally launched in Israel by Maya Gura, it now has over 5,000


Be it a fresh manicure, last-minute wax before a holiday


or a make-up retouch before a date, it can all be ordered online


and performed in your office or the comfort of your home.


90% of customers being directed to the app via word-of-mouth,


and over 70% of the business deriving from repeat customers.


In 2017, the company is expecting to launch in Barcelona,


Maya Gura, co founder and CEO of on demand beauty app Missbeez.


Welcome. It sounds like something that many people are likely to use


and want to use. I get the business idea, but tell us how it started in


Israel. Missbeez is my third venture and my childhood dream was to


become, to work in prison. To work in prison?


I thought I'd misheard! Why? I guess I wanted to realise why


people become evil, when I was a child. It was fascinating to me.


Even though my career started into tech start-ups, at some point my


previous company was acquired by eBay and I realised this was perfect


timing to fulfil that dream. You have the money, the opportunity,


just to put the viewers into perspective, you are from Lithuania


but you went to Israel to do voluntary work after selling a


previous business to eBay? I have lived in Israel since 11. I grew up


in Israel. I went to volunteer for a rehabilitation centre for sex


workers. Working with these women and later in prison for three years,


I realised I would like to use my business skills to create a business


model that can help as many people as I can, instead of being an


organisation way you help tens of people, I want to create a business


for thousands of people and create opportunities for them. Is it like


apps where if you have a lot of demand the price goes up? Is it


fixed? The philosophy we use is affordable pricing always. Customers


are busy working women. It is not a VoIP service, it is women who never


have the time to run to the beauty salon or engage in beauty this way.


You mentioned 20 billion but the global market for the hair and nail


salon industry is $400 billion. Your app connects the user with someone


where they can get a waxing done and you take a commission? That is how


you make money. We do not get your ambition to work in a prison. You


worked in a prison for three years. How did that bring you to your


company? I believe working with lesser privileged populations,


creating Missbeez. I learned about marketplaces that connect people who


have money but do not have the time and the opposite, have time but no


money. We worked with hundreds of beauticians and work with hundreds


of beauticians from different backgrounds and we enable them to


become self-employed and create a successful business. The name,


Missbeez, it is obvious who your target is, is there scope for a male


version? Our founder is definitely ambitious and he wants to create a


Mr Lazy one day. Tell us the story of a life transformed by this. I can


tell you hundreds of stories but we had one beautician who worked at a


beauty salon and went through a lot of medical procedures and had a lot


of debt and loans accumulated. She wanted to be self-employed but it


was hard to make the switch. We explained how it will work and


assured her she would earn more money and she made the jump and


covered all of her loans in four months only, and she tripled her


salary and became one of best ambassadors. What service did she


provide? Nails. She still does. It is a great story. Thanks for sharing


your business with us. Thanks. We will discuss your conversations


about their B but this is how to keep in touch. We will keep you


up-to-date with details with insight and analysis from BBC editors from


right around the world and we want to hear from you. Get involved on


the BBC Business Live web page. And on Twitter. You can find us on


Facebook. Business Live on TV and online, whenever you need to know.


Mike is back in the studio. We have asked you about the story in the


Financial Times with Airbnb facing a fight for survival in New York City.


Explain what this is about. Since the creation of their B yet has


faced legal battles in various cities. Why is this a worry for


them? The challenge Airbnb has is not being perceived as a straight


competition for the hotel industry or for the rental market. Typically


in cities where there is high demand for housing, they tend to run into


trouble and legal battles that is what you have. You have the hotel


industry in New York saying, you are going to steal our business, and on


the other, you are going to use up the rental market for short-term


breads. Do you it? I am used it.


Normally I do not use any thing. You are the tech pioneer. Not


normally, but I have used it. Very easy. I am going away in March and a


friend has booked through Airbnb, so I can say I am on the roster but as


yet have not sampled products. We asked viewers to get involved. David


said it is always better to stay in a hotel.


Privacy is at most. Laura goes in favour of Airbnb, saying we have a


12-year-old and we can get more space, Cook, etc.


The media, great fun family holidays, Airbnb, when hotels can be


suitable. I know that, I have three little boys. And this one. If you


can do it in a mining company that is something to do about. I work in


the fund management industry and it is a wake-up call to everyone. I


think it is a fantastic aspiration and something we should focus on. A


nice picture of a woman in a hard hat walking across a nine.


Thanks for coming in. And good to see you as well.


That is Business Live. I am going to go home and get to that snap now!


Goodbye. Hello, good morning. Another quiet


day across most parts of the UK with dry weather in the


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