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