15/12/2016 BBC Business Live

The world's most powerful central bank is now predicting three

rate rises next year - instead of two.

We'll assess the impact on America and the world.

Hackers steal data from more than a billion Yahoo accounts.

We'll get the latest from Washington.

The US dollar headed higher, but the stock market didn't

like the sound of last night's statement and press

The Dow - which has been flirting with hitting

In the UK - the Bank of England meets with interest rates

Would you give up this lovely looking cooked breakfast for this?

How old a cup. It promises to give you all the proteins, carbohydrates

and facts you need. We'll meet the man who says this

is the meal of the future. And so we want to know -

would you swap real food Or do you just enjoy

eating too much? We start with US interest rates -

because America's Central Bank, the Federal Reserve,

has raised the cost of borrowing. Nearly everyone predicted

that would happen. What wasn't expected though

was the strong signal from the Fed that rates will be going up faster -

and higher - than many That's rattled stock markets

and boosted the dollar. Higher rates will have a knock

on effect around the world. And what wasn't said -

but was strongly implied - was the impact the economic plans

of President-elect Trump could have. Well, the Fed raised its main

interest rate by 0.25%. The Fed is now predicting three

rate rises next year - instead of two previously

anticipated. And three more a year

for the following two years - so that borrowing costs will hit

3% by 2019. Again - that's higher

than its previous predictions. Well - it wasn't spelled out -

but there were strong hints it's His plans for lower taxes and more

spending which should boost the economy and push

up inflation. Joining us is Nandini Ramakrishnan,

Global Market Strategist at J.P. Markets having a chance to react to

this, the Dow not being able to hit those highs. What did major

makeover? Broadly speaking we saw Asian markets taking their cue from

Wall Street. Many Asian economies are badly affected, negatively

affected when US interest rates go up, because over the last eight

years old a decade or so, Asia has really benefited from this era of

cheap money. Now it looks like the US is going to start raising

interest rates not just today but over the next couple of years. That

means Asian companies have to wean themselves off this addiction and

that's going to be very painful. Good stuff, thank you.

We heard that the reaction in Asia, quite mixed. Japan was slightly up

because the yen is so weak compared to the dollar, but other emerging

markets, other countries that rely on the US dollar investment and so

on it's quite difficult? Yes, tough for emerging markets relying on the

US dollar debt or a high strong dollar, which pulls the money,

strengthens the dollar, it's tough for emerging markets to deal with

that. But this is just one of the few issues facing emerging markets

and it depends between which emerging markets are looking at.

Some weaker than others. The European markets, pretty mixed. Most

people seem to be a bit fazed by what was said at the press

conference. The interest rate Reich happened, the and for next it's one

more than what we anticipated at previous meetings. That is a bit of

a faster pace. I think the overall perception of markets is this is a

Fed taking a higher growth in the US economy and can justify the fact the

US economy is strong enough to handle it. They are looking for two

things, better unemployment rates, the better, and inflation, which is

now starting to go up. It looks like we are in a good place for the US

economy. What does it say about the diverging policies of Europe and the

US? America with rates going up more quickly and higher than we thought

before and Europe stuck in this era of record low interest rates and no

sign they could even start thinking about raising? Very much that

morning trade policy diverging. The Fed starting to dig up a bit in the

US and Europe it seems like a ultralow interest rates very long

time. That's because the ECB are trying to get growth as much as

possible stimulated in the Eurozone and European economies, especially

have elections coming up. What about have elections coming up. What about

the Bank of England? We have the central bank meeting here in the UK

today. What is Mark Carney thinking with all this going on? The

expectation is for no change in the interest rates in the UK as of yet.

So much uncertainty regarding Brexit, and the negotiations next

year indicating that should be a stable approach taken before next

year. Thank you. We will later get your take on shakes against the real

stuff! We will but all this discussion of America, we should

check in on what is happening stateside. All the details from New

York. The consumer price index, or CPI,

measures changes in the price of a collection of consumer goods

and services purchased On Thursday, fresh numbers

from the US Labor Department are expected to show that the CPI

rose 02% in the month of November. QuadComputing is the name

of the game for two companies Photoshop maker Adobe Systems

is seeing an increase in user growth, because of its Cloud

subscription services Also reporting is Oracle,

and investors are expecting a slight rise in revenue,

as strength in its growing Cloud business outgrew weakness in its

traditional software offerings. That was the Mir Hussein in New York

for us. President-elect Donald Trump hosted

some of Silicon Valley's top bosses The meeting was called to clear

the air after many of them backed rival Hilary Clinton

in the recent US elections. The meeting focused mainly

on economic issues, including job creation,

lowering taxes and Greek Prime Minister Alexis Tsipras

has refused to back down over his plans to give poor Greek

pensioners a pre-Christmas bonus. A government official says

Mr Tsipras will ask parliament It will cost Greece

around 620 million euros have suspended their recently agreed

debt-relief plan for Greece saying Another story I would imagine if you

are a Yahoo account holder is the story that emerged yesterday about

Yahoo admitting to 1 billion user accounts possibly being affected by

a hacking attack dating back to 2013. This is on top of the breach

they told us about a little while ago, which was 500 million accounts

back in 2014. So many are asking the question, what on earth is going on

at Yahoo? There is a lot of analysis on our website, as you can see.

Yahoo saying names, passwords and e-mail addresses were stolen but

crucially says not bank or payment data. But all raising big questions

about Verizon, the telecoms giant who are proposing to buy Yahoo for

$4.8 billion. Big questions about whether it will want to do that,

given this massive data breach. There's a stark warning today

about the impact of Brexit A parliamentary committee is warning

that Britain will need a 'transitional period' once it

leaves the EU - so that financial firms don't face what it calls

a 'cliff edge' that pushes them The report is by the House of Lords

EU Financial Affairs Sub-Committee, and its chair Baroness Falkner of

Margravine. She is with us now. Very nice to see

you. Thank you for joining us. Talk us through this. We heard so much

debate about what will happen after Brexit, how long it will take and

what shape business will be in. What are you most worried about? I think

we are really worried about this cliff edge. That we come to the end

of the two year period, there isn't a fresh deal on the table, and we

are suddenly in a situation where businesses who have planned already

to relocate or to move their business models, change their

business models, are affected by the uncertainty. And because the

financial services sector, as well as the regulators, want an orderly

transition, it would be the worst thing. The other thing we are

worried about is whether the skill set the financial services sector

needs would be available to them if there is no freedom of movement of

people between the EU and the United Kingdom, as well as from outside. We

were told in the evidence it was really important that the government

FastTrack and have a good robust system for allowing companies to

move people around. Are you arguing there needs to be a special deal,

for the City of London? I think we are not necessarily arguing for a

special deal for the city of London, we are saying this is an ecosystem,

it exists and there are a lot of jobs at stake, several million, that

are relying on other businesses. One of the things you point out in

Europe report is if the worst case scenario comes into effect, New York

will be the winner, not Paris, Frankfurt or London. Do you think

that will scare the EU negotiators into action, therefore they will

come to some kind of compromise agreement? I think it became pretty

apparent to us that the size and depth and liquidity of London

couldn't be replicated very easily in a two year framework anywhere

else. It is the well's 's biggest financial centre. The next biggest

is New York. The logic of it dictates a lot of business will go

to New York. We hope that there will be more pragmatism once the

government lays out its White Paper, it strategic plan in terms of what

it wants. We hope then people will be able to see the United Kingdom

and the City of London is important and they will realise. But is an

important point to make, the European Union countries, consumers,

businesses, rely on London as much as United Kingdom businesses do. OK,

we have to leave it there unfortunately. Thank you for joining

us. A report being presented today. Still to come, is this the food of

the future? We will meet the man who says he has invented the right mix

of everything you need to live in powdered form. This is Business Live

from BBC News. The online takeaway service called just eat has sunk its

teeth into rival hungry house. It is paying ?240 million to buy the firm.

It comes as the take-away delivery market is hotting up

in the UK, with competition from the likes of

Theo Leggett is in the Business Newsroom.

The competition is hotting up, but sometimes the food is not very hot

when it is delivered? I was just wondering how many bad puns we could

get in that introduction. I was going to say myself this is a case

of Just Eat gobbling up its main rivals. Just Eat is an Internet

-based service where you can type in your postcode and it will connect

you with takeaway restaurants in your area, categorised according to

what you want, if you want to eat Chinese, a curry or pizza and those

companies will deliver to your area and their menus will be on the

website. It has proved rather successful. The company floated just

a couple of years ago and it seems investors this morning are quite

happy with what they are hearing about its potential takeover of

HungryHouse. The share price is up 5.5%. Why is that? Quite simply

because HungryHouse is a very similar sort of operation and by

taking over HungryHouse, Just Eat not only increases its own scale but

gets rid of arrival as well. Thank you. Interesting story there that's

unveiling. Now, we have a lot more on our website, as I keep saying.

The go-ahead group warning the performance of the rail division is

slightly below its estimates, just what you want to hear when we are in

the thick of the Southern rail scenario. Lots of stories about

disruption for Christmas travel. We will talk about the worst excuses

from travel firms later, when they talk about the inconvenience, which

is code for them not running a service.

This is another interesting one, JD sports launches investigation into

working conditions. A very hot topic in the UK at the moment. It said it

will launch an investigation into conditions at its Kingsway will

warehouse in Rochdale after staff told a Channel 4 News undercover

investigation it was worse than a prison. This has been an issue for

Sports Direct as well, very much in focus at the moment. That is on our

website as well. Lots of stories from various companies there. When

you have a chance, take a look. The page is constantly updated and all

the latest reaction to news from the US Fed.

Our top story: markets around the world in Asia and Europe reacts to

the news from the Federal reserve in the US. Interest rates went up. It

is what Janet Yellin had to say which spooked investors a bit.

Markets are a little concerned they did not see the three extra rate

rises coming. They were not quite sure what would happen over the

coming year. In Asia we saw losses on many markets because their

currency is at an all-time low. Many currencies based in places like

Malaysia, the Philippines and Thailand have debts in US dollars.

As the US dollar goes up in value, debt repayments climb. Markets in

Asia hit hard by the news. It is breakfast time in many parts of the

world. You may be tired of eating real food. Apparently you are in

luck. UK based Huel makes powdered meals to meet your daily

requirements. In 18 months it sold more than three and a half million

males in more than 50 countries around the world. What is in it? I

very long list. Oats, sunflower seeds, flax seeds, Brown rice

proteins plus a lot less natural sounding ingredients. We will talk

about that in a minute. All ground into a powder. This is a busy

market. We have competitors you may have heard. They say they replace

meals as other innovators developing substitutes will meet, milk and egg.

Is this the food of the future? We have been playing with these all

morning. The Christmas pudding shake is not the one we have here.

Interesting. Just talk us through how this came about. It is not the

first. A lot of people swear by this. It does mean they don't have

to eat real food. I had a previous fitness business. At that I was

cooking my food from scratch every day. I lost a lot of body fat and my

friends wanted to replicate that. I weighing all of my food to know how

many calories I was in taking every day. That is quite difficult to do.

I was using protein shakes. They don't contain all the nutrients you

need. We put in the carbs, the facts and the micronutrients. It is all in

a single product and says a lot of time. All you do is drink this or

eat it, depending on the constituent -- consistency. The way I use it is

I have for breakfast, lunch and then have a traditional family meal in

the evenings. Then we'll have some. Do I need to shake it? No. I prefer

that to the Christmas pudding one. Some of the ingredients are

technologically altered. You have a lot of sugars in there. They have

artificial sweeteners. That is artificial. It is not natural. The

trend is to go back to nature. It is all about full fat milk. It is 95%

natural and 5%. We rely on science for everything. If we went to the

doctors, medicines are not natural. We put natural things in our body

all the time. Science gets us to the moon and back. Science can do a lot.

Does this slide in the face of the moons thing? There are some crazy

things on here I do recognise. We take red. We have 31 ingredients on

the top. We have 26 essential vitamins and minerals was to impress

are 21 ingredients. That is baked. It is more process than Huel. What

is a vanilla flavour system? It is a flavour sweetener. You are not going

through health food shops or anything. You are wanting to launch

in the US. That would be quite a tough market, wouldn't it? We get

e-mails constantly. On social media we get people asking, when EU coming

to America? This is made down in Devon. We ship the ingredients in

from where they come from. It is blended in Devon, packaged in Devon

and sent out from Peterborough. Who is your ideal customer question what

we thought it was going to be people in office environments. You do not

have access to the kitchen and you go out and grab a summer job bring

something in. The same for breakfast. -- a sandwich it is

people who don't have access to a kitchen like a lorry driver. An

ambulance man. Are you going to have these at service stations? A man in

the Army put four stone on since he became a lorry driver. He has gone

on to Huel and he has lost weight. Quite a few tweets. I have a shape

for breakfast every morning. At the same time, Glenn says, food should

be textured and enjoyable and not pulverised Marsh. Maybe Glenn is not

your ideal customer. We do have a bar now. We will send back to Glenn.

Thank you for coming in. Thank you for bringing in the Christmas

pudding one. The internet giant Yahoo says it's

working with police to investigate a large scale hack which may have

affected one billion The company says names,

phone numbers, passwords and email addresses have been stolen

during the attack which Here's our Washington

reporter Laura Bicker. Other companies have been hacked

that year who could have suffered a record-breaking information breach

for the second time. It has taken over three years to discover it. A

few months ago the company announced a million accounts have been hacked.

Now that was another data breach dating back to 2013. They don't

think bank or payment card data was stolen. The company believes a

state-sponsored actor is to blame that they will not say which

country. This is the latest setback for Yahoo. An internet pioneer which

has fallen on hard times. It may affect a deal with Verizon, which

aims to buy Yahoo. Account holders are being urged to reset their

passwords while the FBI investigates.

You tried that shake, didn't you? What do you reckon? I liked it. It

was mixed with fresh banana and almond milk. People in the City of

London will grab something like that on their way make something quickly

at home. It seems to be about the convenience factor. Lloyds of London

is to establish EU based in the New Year. It is quite interesting.

Lloyds of London are saying this today in the press. Other banks are

doing this as well. Any business plan is to have contingency plans

with Brexit or Article 50 being triggered possibly by March of next

institutions have a secondary plan institutions have a secondary plan

or some way to handle what will of course be a huge change for the City

of London. The report that Baroness Butler put together does talk about

the fact these big banks are looking up operations in Europe. To be

honest, they would be silly not to in this situation, wouldn't they?

Regardless of Brexit, having global operations to service the client or

service the industries in different parts of the world. It is probably a

business plan that most financial institutions would have anyway. For

any hard-pressed commuter, passenger website tracks how often travel

companies apologise. We have all heard those announcements. We are

sorry this train is not running. Sorry for the inconvenience must be

the most infuriating sentence. If you have not got from a to be, I

guess so. The thing about markets and investigated -- investigative

companies, it is a new sector. If it is so transparent you apologise and

tell customers what is going on. Sometimes you think, I don't care,

make it run on time. That might be the basic service offered. You are

obsessed by Wi-Fi. We where discussing this yesterday. It

depends if you get a seat. That is the other issue goes that we could

go on and on. Thank you for coming in. It has been great having you

with us. You are up to date with all you need to know in the business

world. Much more throughout the day wherever you are watching us. See

you soon. Hello. For many of us it will be a

cloudy day. There will be some places seeing a bit of sunshine and

some getting rain.