:00:08. > :00:11.This is Business Live from BBC News with Ben Thompson and Sally Bundock.
:00:12. > :00:16.Will France's next President give l'economie some va va voom?
:00:17. > :00:19.And will voters opt for radical change like in Britain and the US?
:00:20. > :00:35.Live from London, that's our top story on Monday 21st November
:00:36. > :00:41.As competition narrows to become the next President,
:00:42. > :00:44.we look how the challenges facing one of Europe's biggest economies
:00:45. > :00:48.could help to decide the country's next leader.
:00:49. > :00:53.Also in the programme: British Prime Minister Theresa May
:00:54. > :00:56.will tell business leaders she plans to keep UK's business taxes
:00:57. > :00:59.But will it be enough to give British business
:01:00. > :01:05.And markets look like this at the start of a new trading week.
:01:06. > :01:09.We'll have the expert view on what to watch this week.
:01:10. > :01:15.And we'll be getting the inside track on how augmented
:01:16. > :01:27.The boss of one company tells us how it could revolutionise the way we
:01:28. > :01:31.get around in the great outdoors. And what do bosses believe when you
:01:32. > :01:43.have been sick? If you have taken a city, what has been your best
:01:44. > :01:47.excuse? Use the hashtag and confess. There are some brilliant excuses in
:01:48. > :01:52.that top ten list. The former French leader,
:01:53. > :01:55.Nicolas Sarkozy, has been unexpectedly eliminated
:01:56. > :01:57.from the contest to choose the centre-right candidate for next
:01:58. > :01:59.year's presidential election. He finished third in a nationwide
:02:00. > :02:01.vote, behind two former prime ministers, Francois
:02:02. > :02:03.Fillon and Alain Juppe. They go to the final round next
:02:04. > :02:08.Sunday. With France's Socialists
:02:09. > :02:10.in disarray, the presidential election is expected to come down
:02:11. > :02:13.to a fight between the centre-right candidate and the far-right
:02:14. > :02:15.leader, Marine Le Pen. At the heart of that contest will be
:02:16. > :02:18.a battle over improving the lives of France's
:02:19. > :02:21.struggling working class. Last week the government
:02:22. > :02:23.lowered its growth expectations for this year saying it now
:02:24. > :02:31.forecasts just 1.4%. The country's independent watchdog
:02:32. > :02:38.says even that figure is optimistic. Meanwhile the unemployment rate
:02:39. > :02:40.remains stubbornly high at 9.7%. The former economy minister
:02:41. > :02:42.Emmanuel Macron is running He's proposing ditching France's
:02:43. > :02:47.35-hour working week for young people in a bid to give
:02:48. > :02:51.them more experience. And another big shake-up has been
:02:52. > :02:55.pitched by Marine Le Pen She wants a referendum on whether
:02:56. > :03:03.France should leave the EU. Tomasz Michalski is
:03:04. > :03:18.Associate Professor in Economics Welcome to the programme. First of
:03:19. > :03:23.all, your reaction to that result? Nicolas Sarkozy is no longer in the
:03:24. > :03:26.frame. First of all, he ran a very divisive campaign and he is not a
:03:27. > :03:37.very beloved figure, even among the right. He is remembered as the one
:03:38. > :03:42.that did not conduct necessary procedures when he was in charge and
:03:43. > :03:45.he had a catastrophic foreign policy. On security grounds, he
:03:46. > :03:51.contracted the police force, which sowed the seeds for some attacks
:03:52. > :03:57.that were witnessed afterwards. That is what many people believe. Talking
:03:58. > :04:01.through those that are still in the frame, Alain Juppe, Francois Fillon,
:04:02. > :04:05.Emmanuel Macron and Marine Le Pen, of course. Give us your take on what
:04:06. > :04:09.these candidates will be saying about the French economy and how
:04:10. > :04:16.important it will be in the spring next year. First of all, the first
:04:17. > :04:24.three that you mentioned, they want to reform the system to different
:04:25. > :04:27.degrees. The most credible the two because they have popular support
:04:28. > :04:31.and representation in the Parliament are Alain Juppe and Francois Fillon.
:04:32. > :04:36.They are both suggest the wide-ranging tax and social security
:04:37. > :04:41.reform, raising the retirement age, and reducing the expenditure of the
:04:42. > :04:46.government by 5% of GDP. And they are paying for this by various other
:04:47. > :04:55.cuts, for example in the number of public servants. On the other hand,
:04:56. > :04:57.the project of Marine Le Pen is really... I doubt that there is
:04:58. > :05:02.anything that can help the French anything that can help the French
:05:03. > :05:06.economy. It calls for abandoning the Euro, increasing tariff rates,
:05:07. > :05:14.basically reversing globalisation, coming back to the good old 70s,
:05:15. > :05:17.which are gone. From your point of view, do you think there is this
:05:18. > :05:24.antiestablishment feeling in France to the degree that we have seen in
:05:25. > :05:31.the UK and the United States? It has definitely been simmering but the
:05:32. > :05:34.successful candidate, Francois Fillon, he rode this tide, taking
:05:35. > :05:42.very strong positions on immigration and on Islam in recent weeks. That
:05:43. > :05:49.probably put him ahead of Alain Juppe in the last days of the
:05:50. > :05:57.contest in the Republican primary. His success doesn't mean that the
:05:58. > :06:02.French are suddenly embracing the free market reforms espoused by
:06:03. > :06:07.Francois Fillon, but the position of Nicolas Sarkozy in 2007 and now
:06:08. > :06:13.Francois Fillon, which they hope to use to their favour and therefore
:06:14. > :06:18.depressed the national front, -- depressed the national front vote
:06:19. > :06:23.outcome will stop thank you very much.
:06:24. > :06:33.This morning, Theresa May will tell business leaders she plans to keep
:06:34. > :06:35.UK corporation tax at the lowest rate of the group of 20
:06:36. > :06:46.The Prime Minister will also pledge an extra ?2bn, roughly $2.5bn,
:06:47. > :06:48.a year into funding for scientific research and development by 2020.
:06:49. > :06:52.Mrs May's speech to the Confederation of British Industry
:06:53. > :06:54.in London comes two days before the government delivers its first
:06:55. > :07:04.post-EU referendum budget, in the form of the Autumn Statement.
:07:05. > :07:07.Facebook says it will expand its presence in the UK by 50 per
:07:08. > :07:09.cent when it opens its new London headquarters next year.
:07:10. > :07:11.It will hire 500 additional employees, including engineers,
:07:12. > :07:13.marketers, project managers and sales staff.
:07:14. > :07:17.There has been speculation following the UK referendum vote
:07:18. > :07:20.to leave the EU that international companies may reconsider investing
:07:21. > :07:29.Bernie Ecclestone, the chief executive of Formula One, has
:07:30. > :07:33.suggested to German media that the authorities in Singapore
:07:34. > :07:35.may look at dropping the F1's only night race,
:07:36. > :07:38.when the hosting contract ends next year.
:07:39. > :07:40.This year's F1 race in Singapore attracted the lowest
:07:41. > :07:43.number of ticket sales since it was first launched
:07:44. > :07:55.We wanted to take you to the Business Live page but we are having
:07:56. > :08:02.a technical problem this morning. We can show it to you this way. This is
:08:03. > :08:06.news from Greg Clark, all related to what we are expecting to hear in the
:08:07. > :08:09.Autumn Statement on Wednesday. The Autumn Statement, you may know, is
:08:10. > :08:13.the first tax and spending plans that we will hear from the new
:08:14. > :08:18.Chancellor Philip Hammond when he takes to his feet on Wednesday. Ray
:08:19. > :08:23.Clark is the Business Secretary. He is talking about the various stories
:08:24. > :08:27.out there. -- Greg Clark. We will talk about that in more detail later
:08:28. > :08:32.when we are joined by James. But first let's focus on the
:08:33. > :08:33.Asia-Pacific region. They have closed their annual summit in Peru,
:08:34. > :08:37.pledging to support global trade. But the conference was
:08:38. > :08:40.overshadowed by fears the Trans Pacific Partnership trade
:08:41. > :08:53.deal may not have a future Nice to see you. So much to discuss
:08:54. > :09:00.there. Talk us through some of the key points. Remember, the
:09:01. > :09:05.Asia-Pacific economic cooperation has always been for trade
:09:06. > :09:10.liberalisation. They have a long-term goal to take the 21 nation
:09:11. > :09:14.bloc to a free-trade zone including all of them. At the end of the two
:09:15. > :09:18.day meeting the communiqu was to vow to keep trade borders open and
:09:19. > :09:24.to fight protectionism, but really the media issue was what will happen
:09:25. > :09:28.to the Obama backed transpacific partnership? Now that Donald Trump
:09:29. > :09:32.is the US President elect he has talked about killing the deal which
:09:33. > :09:39.is to be ratified by ComRes in the US, despite no support from the
:09:40. > :09:45.incoming administration, some think it could go through. -- ratified by
:09:46. > :09:56.Congress in the US. A modified version might still be possible.
:09:57. > :10:02.Whatever is certain, whatever happens, China is standing by with a
:10:03. > :10:05.trade deal for Asia, the regional comprehensive partnership. We will
:10:06. > :10:08.watch that closely. Thank you for explaining it. It is a very
:10:09. > :10:13.important issue for trade in the region and we will watch it closely.
:10:14. > :10:16.Shares in Tokyo rose to a fresh 10-month high at the start
:10:17. > :10:19.of a new week as the dollar soared against the yen on expectations
:10:20. > :10:21.the Federal Reserve will hike interest rates next month.
:10:22. > :10:27.In Europe, the numbers look like this.
:10:28. > :10:33.This could be the start of another week where politics will dominate
:10:34. > :10:36.proceedings. There will be more discussion over the President-elect
:10:37. > :10:41.and what his Cabinet would mean and the French elections we have been
:10:42. > :10:44.discussing and also the tax and spending plans from a new
:10:45. > :10:48.Chancellor. We will talk about that in a moment but first let's get the
:10:49. > :10:53.details about the day ahead on Wall Street. Thursday marks thanks giving
:10:54. > :10:57.in the US, where family and friends gather, share a meal and share time
:10:58. > :11:04.together. The day after Thanksgiving is Black Friday, the retail event of
:11:05. > :11:08.the year. It is the time that traditionally kicks off the holiday
:11:09. > :11:15.shopping season. But that comes at the end of the week. Before then,
:11:16. > :11:19.Fed watchers will get a little gift in the form of minutes from the
:11:20. > :11:27.policy reserve meeting. And also a Norman Rockwell painting depicting
:11:28. > :11:32.an undecided voter during the 1944 presidential election between
:11:33. > :11:38.Franklin Roosevelt and Republican candidate Thomas Dewey. That
:11:39. > :11:44.painting is up for auction and it is called Which One? And Decided Man In
:11:45. > :11:55.Voting Booth. And it has an estimate of $4 million. And I mentioned James
:11:56. > :12:02.and here he is. How are you? I am magnificent. I am not crying off
:12:03. > :12:06.today. No sickie pulled by James! Keep your text messages coming in on
:12:07. > :12:11.that. Some good ones so far. What are you watching? In the UK we are
:12:12. > :12:15.assessed with the Autumn Statement on Wednesday and we have got Theresa
:12:16. > :12:19.May speaking at the CBI today. Absolutely and we have market
:12:20. > :12:23.economies that have got to be focused onto element and
:12:24. > :12:26.improvement. It is all very well to talk about growth but in a world
:12:27. > :12:29.with shrinking populations and real challenges between the balance
:12:30. > :12:33.between manufacturing and services, we have got to put economies on the
:12:34. > :12:37.right path to greater prosperity. I do think Philip Hammond and Mrs May
:12:38. > :12:41.will want to take the opportunity to try to set an agenda for forward
:12:42. > :12:46.growth. We have talked about this a lot but central banks are running
:12:47. > :12:49.out of options to kick-start growth. Are they passing this back to
:12:50. > :12:55.government policy to kick-start growth? They have run out of
:12:56. > :12:58.reducing interest rates and printing money. It was always wrong to assume
:12:59. > :13:03.central banks can do anything other than push on a piece of string.
:13:04. > :13:07.Monetary policy was always necessary but not sufficient to generate
:13:08. > :13:11.growth. We need two initiatives, including fiscal support to get the
:13:12. > :13:14.economy moving again with extra spending, but given the high levels
:13:15. > :13:19.of government debt, we actually need the private sector to take up the
:13:20. > :13:21.running. For that we need better infrastructure, good quality
:13:22. > :13:25.education, both long-term investments, and a reduction in the
:13:26. > :13:31.regulation and red tape that holds up businesses from creating wealth.
:13:32. > :13:35.Will they deliver this week? I think we will see the first signs that the
:13:36. > :13:38.government is focused on trying to engineer a longer-term solution to
:13:39. > :13:45.the problems in the British economy. James Wilby back. Thank you. For now
:13:46. > :13:50.he has got to respond to the sickie story. Theresa May will speak at the
:13:51. > :13:54.CBI conference in exactly an hour from now, 9:45am local time, and
:13:55. > :13:59.there will be full coverage from the BBC on that. Still to come: We will
:14:00. > :14:04.be meeting the firm rethinking the way we get around. The boss of this
:14:05. > :14:08.award-winning navigation firm will tell us why we will never look at
:14:09. > :14:15.the map in the same way again. This is Business Live from BBC News. More
:14:16. > :14:21.on that speech coming shortly from Theresa May one. She is at the CBI
:14:22. > :14:26.annual conference today. And as well as that tax story we have been
:14:27. > :14:28.talking about, expecting her to announce ?2 billion for science
:14:29. > :14:32.funding, in a bid to convince business leaders that the UK is open
:14:33. > :14:35.for business. She will face a sceptical audience of course and
:14:36. > :14:39.delegates at the conference are likely to want more clarity on the
:14:40. > :14:43.government's Brexit plans. Also their tone when it comes to big
:14:44. > :14:49.business. Simon is at the conference for us, our business editor. It is a
:14:50. > :14:50.tricky audience for her. It will be interesting to hear what she has got
:14:51. > :14:59.to say. Well she rattled a few cages when
:15:00. > :15:03.she called out bad behaviour and made thinly veiled reference to say
:15:04. > :15:06.certain business leaders. What she is going to say is listen, there is
:15:07. > :15:12.the bargain on the table here. I will make the UK a good place to do
:15:13. > :15:17.business. A new commitment to keeping taxes low and small research
:15:18. > :15:27.and development spending that ?2 billion that she will mention today.
:15:28. > :15:32.Call out bad corporate behave yor and don't pay yourself too much.
:15:33. > :15:36.Worker representations on board and things like that, but the other
:15:37. > :15:40.thing that's hard to reconcile she is going around the world to say we
:15:41. > :15:45.want to be a champion for international trade. That was the
:15:46. > :15:49.problem. You saw that in the referendum in the UK and the
:15:50. > :15:56.election result in the US. To resolve that conflict you need a
:15:57. > :16:00.conventionalist industrial strategy. So the Government is saying we are
:16:01. > :16:05.not going to step back and let you get on with it, we are going to step
:16:06. > :16:09.up and make sure we give you the tools to do your job, but you have
:16:10. > :16:14.to behave yourself in return. That speech will be live on BBC News
:16:15. > :16:15.Channel when she does take to the stage at the CBI conference. That's
:16:16. > :16:30.the Prime Minister, of course. A stoiyard from Bonmarche. It is
:16:31. > :16:37.going to target women and it has come up with model customers, Susan,
:16:38. > :16:44.Linda, Margaret and Joan and it will favour Lisa instead. It is ditching
:16:45. > :16:50.the rest and going for Lisa! Not a Sally in sight!
:16:51. > :16:59.Our top story, two former prime ministers in France will face each
:17:00. > :17:02.other in a run-off election to decide who will be
:17:03. > :17:03.the centre-right candidate in next year's presidential election.
:17:04. > :17:06.They are Francois Fillon and Alain Juppe came first
:17:07. > :17:08.and second in the first round of the presidential primary
:17:09. > :17:16.We shall be covering that, the general election in the spring of
:17:17. > :17:17.next year. Election fever everywhere.
:17:18. > :17:22.A quick look at how markets are faring.
:17:23. > :17:33.The FTSE 100 up a quarter of one percent.
:17:34. > :17:36.You might have heard of augmented reality,
:17:37. > :17:38.not least because of the Pokemon Go craze.
:17:39. > :17:42.It's a mix of real life settings with computer generated elements.
:17:43. > :17:46.But it's not just confined to games as our next guest can explain.
:17:47. > :17:48.ViewRanger is a GPS company mapping app which provides users
:17:49. > :17:50.with directions by superimposing information onto the image captured
:17:51. > :18:00.The software currently covers around 80% of the globe and is used
:18:01. > :18:07.by over three million users including search and rescue teams.
:18:08. > :18:09.The app is free to download, though users can pay
:18:10. > :18:21.Many of the maps are Ordnance Survey maps. That's the kind of map that
:18:22. > :18:23.you will see on your device. Craig Wareham is CEO
:18:24. > :18:32.and co-founder of ViewRanger. Good morning, Craig. Good morning.
:18:33. > :18:37.You were showing me this app on various devices to sort of have a
:18:38. > :18:41.sense of how it works. I was saying, being someone who tries to use
:18:42. > :18:44.Ordnance Survey maps and sometimes it is successful and the fact that
:18:45. > :18:48.there is one there on a device which will show me where I am an the map
:18:49. > :18:52.is a huge benefit. Normally I have no idea where you are! That's the
:18:53. > :18:56.beauty of using those kind of maps on the digital device is it can
:18:57. > :18:59.instantly show you where you are so you know where you are, you know
:19:00. > :19:04.where you're going. You know which mountain is in front of you. That's
:19:05. > :19:09.what we're doing with the augmented reality, you can hold up your camera
:19:10. > :19:12.phone and it automatically labels the hills and the lakes around you.
:19:13. > :19:17.It answers that age old question of what is that hill over there? Is
:19:18. > :19:21.that Ben Nevis or not? Well, exactly. It is about making the
:19:22. > :19:25.outdoor trips more engaging and more interesting. It is about the
:19:26. > :19:29.experience of going outdoors. How does this vary from Google Maps or
:19:30. > :19:34.Apple Maps that can pinpoint where you are and tell you when you turn
:19:35. > :19:45.around with a compass what you're looking at. Tell me the difference.
:19:46. > :19:49.So we're targeted and we're focussed on the outdoor recognise rational
:19:50. > :19:57.experience. Hopefully inspire you where you want to go, giving you
:19:58. > :20:04.good navigation which is where the maps and skyline augmented reality
:20:05. > :20:07.come in. Who is this aimed at? Is this for recreational users or
:20:08. > :20:14.search and rescue teams who use it? Our users are spread across both of
:20:15. > :20:18.those. We started as very map focussed and targeting the
:20:19. > :20:22.enthusiast and the search and rescue teams have adopted it widely, but
:20:23. > :20:27.just as the outdoor market is shifting to be about this active
:20:28. > :20:31.outdoor lifestyle, you know, we are seeing that represented in our
:20:32. > :20:35.community as well, and you know, this is a mainstream activity.
:20:36. > :20:39.People go walking. People go hiking and people go cycling around the
:20:40. > :20:42.world. A huge boost for your boost was in September when Apple had its
:20:43. > :20:48.big launch event and you were there, you were part of it. Launched this
:20:49. > :20:51.as a part of the Watch, as a part of its new devices, but you're on
:20:52. > :20:55.android as well. How important was that moment? Presumably for a
:20:56. > :20:58.company that I had not heard of, it was a big deal? It was a unique
:20:59. > :21:04.experience, yes. An exciting experience. So we were invited to go
:21:05. > :21:09.on stage as part of the Apple Watch launch and demonstrate our app on
:21:10. > :21:13.the Apple Watch. I have been told we are the only UK company to have been
:21:14. > :21:18.on stage with Apple in that situation. And you know, it is a
:21:19. > :21:21.huge worldwide audience for us, great exposure and of course, we
:21:22. > :21:25.have seen our community grow rapidly. That's important because
:21:26. > :21:31.there is so many mapping apps out there? There are few that are doing
:21:32. > :21:34.what we do and doing it on a global stage, but it was a fantastic
:21:35. > :21:37.opportunity. What do you want to hear from the Chancellor on
:21:38. > :21:42.Wednesday as far as tech business in the UK is concerned? More funding
:21:43. > :21:47.support and bringing through better educated students. Wonderful. Thank
:21:48. > :21:55.you. Really nice to see you, Craig. Best of luck with it.
:21:56. > :21:57.It derided as "the worst" when Japanese start up
:21:58. > :22:01.Seven Dreamers revealed a laundry folding machine at least
:22:02. > :22:05.Some critics called it ridiculous, frivolous, and a waste
:22:06. > :22:08.But Panasonic clearly think otherwise - they've invested
:22:09. > :22:23.How about the laundroid, a robot that folds your laundry?
:22:24. > :22:29.Apparently we can save 375 days over a lifetime by not having
:22:30. > :22:37.So laundroid here can recognise the shape of the garment
:22:38. > :22:48.This sleek wardrobe-sized carbon-fibre casing hides
:22:49. > :22:53.The company says the clever bit is using image analysis
:22:54. > :22:58.to recognise whether you've shoved in a sock or a shirt.
:22:59. > :23:00.Then once laundroid knows what it's working with,
:23:01. > :23:07.it can concentrate on the gentle art of folding!
:23:08. > :23:22.Whatever it's doing, it's very quiet.
:23:23. > :23:29.Would you use that machine? I wish I did. It looks impressive. Do you
:23:30. > :23:35.iron your own shirts, James snr Nouf say no. The best excuses for calling
:23:36. > :23:39.in sick according to your boss. They have gone through the excuses that
:23:40. > :23:45.came in and compiled a list of the ones most feasible and most
:23:46. > :23:52.reasonable and most believable. 42% of bosses think that flu is a good
:23:53. > :23:58.reason to skip work. Flu, back pain. Migraine is high up there. Simon
:23:59. > :24:06.says, "Someone I work with said they had a broken leg. They e-mailed in
:24:07. > :24:11.an x-ray of the broken leg." But we searched online and found an image
:24:12. > :24:15.of the broken leg. I imagine with a broken leg, that's some excuse. You
:24:16. > :24:21.have got weeks in plaster pretending when it is broken and it is not. You
:24:22. > :24:29.have got to be on a real trip of self indulgence to play that one!
:24:30. > :24:35.James, let's look at some other stories. There is another story
:24:36. > :24:42.about the French economy. The French hamburger, should I say. What are
:24:43. > :24:46.they doing to make it more... There is a major divide between fast-food
:24:47. > :24:49.and proper restaurant food and because many people grow up eating
:24:50. > :24:52.fast-food, they want to go to a restaurant where there is something
:24:53. > :24:56.that is similar to what they are used to and there have always been
:24:57. > :25:00.up market hamburgers and the French are saying we're going to get more
:25:01. > :25:03.customers if we play the game that the customer likes and instead of
:25:04. > :25:12.having extraordinary things, we will give them a burger and it will be an
:25:13. > :25:17.up market burger. It is also about competing with the more up market
:25:18. > :25:21.chains. It is about the quite nearby and specific burger places that
:25:22. > :25:25.charge a fortune just for a burger? And foot fall is high and people
:25:26. > :25:31.want them. There you have it. France getting on board as it were. We have
:25:32. > :25:35.a quick comment from you about the week on the markets. We've got that
:25:36. > :25:39.statement on Wednesday. We have got Theresa May speaking today. How will
:25:40. > :25:45.the UK markets fair this week, do you think? The markets are going to
:25:46. > :25:47.be very focussed on not just the UK domestic agenda for trying to
:25:48. > :25:50.generate growth, but also what is coming out of the United States
:25:51. > :25:54.because we are clearly looking forward to hearing more of Mr Trump
:25:55. > :25:57.he is agenda. We have the Federal Reserve on 14th December and that
:25:58. > :26:04.will be a huge focus. Thank you James for coming in. I appreciate
:26:05. > :26:15.it. We've never called in sick. Bye-bye.
:26:16. > :26:16.Good morning, well, it is a hard frost at