:00:00. > :00:12.This is Business Live from BBC News with Jamie Robertson
:00:13. > :00:15.This is Business Live from BBC News with Jamie Robertson
:00:16. > :00:18.Fiat Chrysler says it will invest a billion dollars
:00:19. > :00:20.in the United States as the Detroit Motor
:00:21. > :00:39.Live from London, that's our top story on Monday 9th, January.
:00:40. > :00:42.The Detroit Motor Show is underway, and the world's car-makers
:00:43. > :00:45.are looking to try to steer the way ahead, amid big changes
:00:46. > :00:50.Plus, we look back at the birth of a revolutionary product -
:00:51. > :00:58.it's ten years since the launch of the iPhone.
:00:59. > :01:07.The markets. The markets in the UK are starting up and the markets in
:01:08. > :01:08.Asia depressed, not a huge amount of movement.
:01:09. > :01:10.And we'll be getting the inside track on how
:01:11. > :01:13.crowd-funding is changing the way that solar energy projects
:01:14. > :01:23.It is ten years on from the launch of the iPhone,
:01:24. > :01:25.we want to know what you think will be the next game-changer?
:01:26. > :01:36.Let us know - just use the hashtag #BBCBizLive.
:01:37. > :01:41.Over the next few days, the world's car makers will be
:01:42. > :01:45.taking the wraps off their latest products at the Detroit Motor show.
:01:46. > :01:49.The car seems more popular than ever - an estimated 75 million
:01:50. > :01:53.were sold last year, but 2017 is already beginning
:01:54. > :01:58.to look like a big year of change for the industry.
:01:59. > :02:00.Not least because more of them are looking to invest
:02:01. > :02:08.In the last few hours Fiat Chrysler has said it will put $1 billion
:02:09. > :02:10.into two US factories, which will create 2000
:02:11. > :02:13.The incoming President Donald Trump has been piling pressure
:02:14. > :02:18.on carmakers to make the vehicles they sell in the US in the US.
:02:19. > :02:20.Meanwhile the traditional business model of the industry is changing
:02:21. > :02:24.with the disruption coming from the technology firms.
:02:25. > :02:27.Google, Apple and Uber are pushing innovations like driverless
:02:28. > :02:34.And that will also mean more electric cars.
:02:35. > :02:38.Global warming and pollution are just two of the reasons
:02:39. > :02:40.many of the established players are focusing their
:02:41. > :02:43.In particular there are concerns about diesel engines
:02:44. > :02:48.with cities including Paris, Mexico City, Madrid and Athens
:02:49. > :02:51.all planning to introduce some kind of ban over the next decade
:02:52. > :02:58.And then there is the prospect of a free trade era slowing down -
:02:59. > :03:02.that's why Fiat Chrysler is investing in the US,
:03:03. > :03:04.with Donald Trump threatening several leading manufacturers
:03:05. > :03:14.with tariffs for building cars in Mexico.
:03:15. > :03:24.Thank you. Talking through the key issues facing the motor industry.
:03:25. > :03:32.Earlier I spoke to the boss of Rolls-Royce. Talking through some of
:03:33. > :03:37.the issues which is interesting because Rolls-Royce has not launched
:03:38. > :03:42.itself in a major way yet into the electric car industry and it is
:03:43. > :03:46.something I grilled him about, but when it came to other issues, as
:03:47. > :03:52.well, we talked about the situation with regards to the car industry in
:03:53. > :04:04.general and where things are headed. Hopefully we will get the view of
:04:05. > :04:13.Karel Williams. At first, another story that was big in business. It
:04:14. > :04:19.was the issue with regards to the US, the President-elect, Donald
:04:20. > :04:22.Trump, moving to push US car manufacturing, stopping them
:04:23. > :04:27.basically moving manufacturer to Mexico or the decreasing
:04:28. > :04:35.manufacturing in Mexico and back into the US. We got an expert view
:04:36. > :04:39.on that. It is plus 6% worldwide what we have achieved, a good year,
:04:40. > :04:48.in the light of considerable events in markets worldwide so 6% is great,
:04:49. > :04:51.over 4000 cars, a great achievement. We will let you get away with that
:04:52. > :04:59.but you solve most of your cars in the United States. The biggest
:05:00. > :05:04.market. After that you saw a 25% rise in sales in the UK. The UK has
:05:05. > :05:09.been a good market for us last year. Plus 25%. The car market in total
:05:10. > :05:16.was strong. Why was the U:K.'s strong in 2016 for you? You see high
:05:17. > :05:22.net worth individuals in the UK and they are our target groups. The
:05:23. > :05:27.economic climate was not bad in this way and for that reason we have seen
:05:28. > :05:33.good business. When it comes to the industry and changes we have talked
:05:34. > :05:37.about, the Donald Trump effect, technology, the likes of Google and
:05:38. > :05:42.Apple getting involved. Where do you see yourselves in the future? Some
:05:43. > :05:47.argue you have not necessarily moved with the times as quickly, for
:05:48. > :05:53.example, electric, you were slow to get a head-on. We are in a different
:05:54. > :06:02.segment, we are not a traditional automotive recess. We are a luxury
:06:03. > :06:06.business. Our clients do not need a Rolls-Royce to go from a to B. They
:06:07. > :06:14.have several cars. They will not accept compromises on charging
:06:15. > :06:19.times, stuff like that. More people want environmentally friendly
:06:20. > :06:27.vehicles that will get them there may be by plugging in as opposed to
:06:28. > :06:33.using old fuel. We presented last year the vision car, which is full
:06:34. > :06:38.autonomous driving, fully electric and that is how we see Rolls-Royce.
:06:39. > :06:43.Where will we be able to drive one of those? The next ten years,
:06:44. > :06:50.definitely. He was that? You got it wrong stop I didn't get it wrong.
:06:51. > :06:55.That was the boss of Rolls-Royce. We know who he is. I have interviewed
:06:56. > :07:01.him many times. However, I was told we would run somebody else we spoke
:07:02. > :07:02.to earlier. We have spoken to a lot of people about the Detroit motor
:07:03. > :07:06.show. Let's move on. Two senior Samsung executives have
:07:07. > :07:09.been questioned as part of the corruption probe surrounding
:07:10. > :07:11.South Korea's impeached It's reported that they're
:07:12. > :07:17.being treated as witnesses. The electronics giant is accused
:07:18. > :07:21.of giving large donations to non-profit foundations operated
:07:22. > :07:24.by a close confidante of Ms Park, allegedly in exchange for political
:07:25. > :07:26.support for a controversial merger. US authorities have arrested
:07:27. > :07:35.a Volkswagen executive who faces charges of conspiracy to defraud -
:07:36. > :07:38.this according to Oliver Schmidt led
:07:39. > :07:41.Volkswagen's regulatory The report suggests he was arrested
:07:42. > :07:48.on Saturday by FBI officials. If confirmed, Mr Schmidt
:07:49. > :07:52.could become the most senior Volkswagen employee to face criminal
:07:53. > :07:57.investigations relating Venezuela's president,
:07:58. > :08:01.Nicolas Maduro, has announced a 50% It's the fifth increase in the last
:08:02. > :08:06.year and is supposed to help Venezuelans,
:08:07. > :08:08.who are struggling to cope with hyper-inflation
:08:09. > :08:10.which is estimated to be around The opposition says Mr Maduro
:08:11. > :08:15.is responsible for an economic crisis which has been engulfing
:08:16. > :08:17.the oil rich country We will talk about cars. We have
:08:18. > :08:32.managed to establish a link. Karel Williams is a professor
:08:33. > :08:41.at Alliance Manchester This is the guest we intended to
:08:42. > :08:47.speak to at the beginning of the programme. Thanks for joining us. We
:08:48. > :08:52.have mentioned the challenges facing the car industry. From your point of
:08:53. > :08:56.view what is the big issue? There are three big issues. First, free
:08:57. > :09:03.trade with Mexico after President Trump. Secondly, the mobility
:09:04. > :09:09.revolution, autonomous cars, and third, diesel cake. If you put them
:09:10. > :09:15.together it is a perfect storm for the motor industry. Trade, of all
:09:16. > :09:19.the things we buy, the car is possibly the most complex in terms
:09:20. > :09:24.of the way it is put together. If you have a hurricane in Thailand it
:09:25. > :09:29.can disrupt a production line in Dagenham. If you have a more
:09:30. > :09:33.protectionist world, Mr Trump perhaps in the US, and other regimes
:09:34. > :09:39.around the world, what happens? It is an interesting question. A formal
:09:40. > :09:47.public position of the industry is tell us the rules and we will adopt.
:09:48. > :09:51.-- adapt. If we look at it more broadly there is an important issue
:09:52. > :09:54.that an industry like the American assembly industry is heavily
:09:55. > :09:59.dependent on cheap imported components from Mexico. 40% of
:10:00. > :10:05.components in US assemble cars come from Mexico. What the industry will
:10:06. > :10:10.hope is President Trump makes noises about assembly but does not disrupt
:10:11. > :10:16.the supply chain arrangements. What if he does? He seems to be a man
:10:17. > :10:19.with a mission. It is an interesting question, the whole thing about
:10:20. > :10:26.President Trump is there is ambiguity. He is between his
:10:27. > :10:30.midwest, Westervelt voters and his Cabinet of billionaires and exactly
:10:31. > :10:39.how he pitches it I do not know. Assembly in Mexico will be frowned
:10:40. > :10:41.upon -- west belt. A reordering of the supply chain, I rather doubt.
:10:42. > :10:44.Thanks. China's ruling communist party has
:10:45. > :10:47.introduced tougher rules for it's corruption investigators
:10:48. > :11:05.after anti-corruption staff were put Steven McDonald is in Beijing. Tell
:11:06. > :11:09.us more. China has half a million anti-corruption investigators
:11:10. > :11:14.answering the call from the president to go after those who are
:11:15. > :11:18.seen to have behaved corruptly within the Communist Party. Now, to
:11:19. > :11:23.some extent, the spotlight is turned on them with new rules. How they
:11:24. > :11:31.investigate people, how they conduct surveillance. And that is because
:11:32. > :11:39.7900 of these investigators are said to have been punished in some way,
:11:40. > :11:44.and 17 of them have been investigated for having committed
:11:45. > :11:51.their own corruption. This is about the party trying to shore up public
:11:52. > :11:57.faith in this anti-corruption drive. Thanks. An interesting story. China,
:11:58. > :12:03.it would seem, on its own mission when it comes to clamping down on
:12:04. > :12:10.corruption. It comes in waves. There is always a clamp-down in corruption
:12:11. > :12:14.in China. Every few months. We can talk to Richard Hunter about the
:12:15. > :12:22.markets. Good morning. Nice to see you. We are talking about markets on
:12:23. > :12:28.the rise. The FTSE, near all-time highs. It is about anticipation. The
:12:29. > :12:33.two things we are looking forward to in 2017 of the ramifications of when
:12:34. > :12:38.the President elect becomes president, at the end of next week,
:12:39. > :12:42.and after we have triggered Article 50, to see how the UK economy will
:12:43. > :12:50.be affected, which as we have seen from the data, it has not been so
:12:51. > :12:58.far. There has been an effect in the sense Theresa May, and impacts with
:12:59. > :13:05.what she says on her plans. This is one of the major reasons we saw such
:13:06. > :13:13.a rise from the FTSE 100 last year which is good news for the market.
:13:14. > :13:17.Up to 85% of earnings for FTSE 100 companies come from overseas are the
:13:18. > :13:23.weaker pound turbochargers our own market. The American market is going
:13:24. > :13:29.ahead in anticipation of the boost Donald Trump will give to the
:13:30. > :13:32.economy. It has been contradictory tale. Some are doing well and some
:13:33. > :13:40.having a hard time Christmas was not back good. It was against a soft
:13:41. > :13:46.Christmas last year. There seems to be a chasm opening up between online
:13:47. > :13:53.retailers and physical presence retailers. Clicks and mortar. I see,
:13:54. > :13:59.people who straddle both will stop in terms of figures last week, the
:14:00. > :14:03.outlook was guarded, although they are famous for that and it is
:14:04. > :14:06.important we get a big names coming through this week to get a more
:14:07. > :14:12.balanced picture of whether it was a good Christmas but the UK consumer
:14:13. > :14:17.could start to be trench, depending on the actual outcome of Brexit when
:14:18. > :14:21.it happens. Good to see you. Nice to have
:14:22. > :14:29.someone in the studio. Things do not go wrong! He is coming back later.
:14:30. > :14:39.We will meet a company trying to end energy poverty through the help of
:14:40. > :14:40.crowdfunding. First, in the UK we have lots of news about the banking
:14:41. > :14:41.sector. The Government has sold a further 1%
:14:42. > :14:56.in Lloyds Banking group. Our business editor Simon Jack is in
:14:57. > :14:58.the newsroom. It is not the government which owns the biggest
:14:59. > :15:03.stake at the moment, it is somebody else? It was bound to happen.
:15:04. > :15:11.Because the government has slowly sold off its original 41% stake it
:15:12. > :15:16.got back in 2008 overtime. Although it is a significant milestone, it is
:15:17. > :15:21.no longer the biggest shareholder in Lloyds Bank, which passes to
:15:22. > :15:25.Blackrock, the US financial group. Selling shares slightly below the
:15:26. > :15:31.price they bought in at all those years ago, but they have pretty much
:15:32. > :15:36.broken even and return some 17.5 billion of the original 20 billion
:15:37. > :15:41.put into it. It is a moment to recognise the fact noise bank has
:15:42. > :15:46.done a good job in cleaning up its act and turning itself into quite a
:15:47. > :15:51.boring UK-based retail bank. It was a simpler proposition to fix than
:15:52. > :15:53.RBS, the other bank in which the government owns a massive state.
:15:54. > :16:01.RBS, the contrast is stark. We still own 73% of that and eight
:16:02. > :16:04.years on the bank is still losing money and it is actually looking
:16:05. > :16:09.right down the barrel perhaps as early as this week of another
:16:10. > :16:15.whopping fine, this time from the US Department of Justice over those
:16:16. > :16:20.mis-sold sub-prime mortgages. If we get a $10 billion fine, the bank
:16:21. > :16:23.will think that's a good result. It was a more complicated proposition
:16:24. > :16:30.than Lloyds to fix. It was a global bank. On some measures it was the
:16:31. > :16:34.biggest bank in the world with tentacles just about everywhere.
:16:35. > :16:38.Lloyds is on the right track, RBS, a long time before we see much of that
:16:39. > :16:42.money back that we put in nearly eight years ago. OK, Simon, thank
:16:43. > :16:47.you very much indeed. Simon Jack there, our business editor.
:16:48. > :16:51.There is a lot about that story on our website. Something we haven't
:16:52. > :16:55.mentioned so far, even though we have dedicated quite a bit of the
:16:56. > :17:00.programme to it, it is BMW, they are telling us that they are determined
:17:01. > :17:04.to build their plant in Mexico despite the fact that Ford, Fiat and
:17:05. > :17:12.others have gone back on that decision. BMW ploughing ahead with
:17:13. > :17:13.building a plant in Mexico, contrary to president-elect's, Donald
:17:14. > :17:17.Trump's, favourite policies. Our top story, Fiat Chrysler says it
:17:18. > :17:22.will invest $1 billion in the United States
:17:23. > :17:26.as the Detroit Motor A quick look at how
:17:27. > :17:38.markets are faring. London up. Just a bit. Meaning, you
:17:39. > :17:43.know, it keeps going on and on, doesn't it? This whole record rally
:17:44. > :17:48.as it were. Very close to all-time highs. Not quite there. We have got
:17:49. > :17:51.another 30 or 40 points before we get there.
:17:52. > :17:53.For many of us, a reliable power supply is something
:17:54. > :17:59.We turn on the fridge or the TV and it just works.
:18:00. > :18:01.But for many others it's a very different story,
:18:02. > :18:04.the International Energy Agency says 1.2 billion people around the world
:18:05. > :18:15.One crowd-investment platform hoping to change this is called Trine.
:18:16. > :18:18.It was launched in February and with the help of 500 investors,
:18:19. > :18:20.the business has already funded eight solar energy projects
:18:21. > :18:23.access to electricity but the company says its platform
:18:24. > :18:25.could help millions more around the world.
:18:26. > :18:33.Sam Manaberi is the Founder and CEO of Trine.
:18:34. > :18:41.Nice to see you, Sam. So next month you are a year old. Yes, thank you
:18:42. > :18:48.for having me. Just tell us about why you launched this nearly a year
:18:49. > :18:53.ago. What gave you the idea? It all started with solar and finance
:18:54. > :18:58.because financing of solar takes away the upfront cost, the burden of
:18:59. > :19:02.that. As long as you can sell solar power cheaper than competing fuels,
:19:03. > :19:08.solar will win. Where did you get the idea? You're based in... In
:19:09. > :19:14.Gothenburg. You are talking about solar energy for lots of people in
:19:15. > :19:19.sub-Saharan Africa. If you come from the side of solar financing, you see
:19:20. > :19:24.this problem, 1.2 billion people, that's one in five people that are
:19:25. > :19:31.using Kerr roe sown and diesel and you want to have a solution to that
:19:32. > :19:37.problem and if you want to fund it, crowdfunding. So where are you
:19:38. > :19:39.getting your investors from, are they northern European investors or
:19:40. > :19:43.are they from everywhere? They are from 20 European countries so far.
:19:44. > :19:48.We are live in all the EAA countries, here in the UK, with a
:19:49. > :19:55.licence, yeah. What kind of return are you offering? Somewhere between
:19:56. > :20:02.5% and 7% currently. And the funds are lent on to the entrepreneurs in
:20:03. > :20:04.southern Africa? These are solar entrepreneurs that do the
:20:05. > :20:08.installation and they need working capital to scale their business. But
:20:09. > :20:13.what are you charging them? We charge them somewhere between 10%
:20:14. > :20:17.and 16%. That's a lot. That's a lot. You have to be competitive for us as
:20:18. > :20:21.well and so we are, otherwise they wouldn't use us. Yes, we are in the
:20:22. > :20:25.market place with a competitive rate. You are the financial aspect,
:20:26. > :20:28.you don't provide the panels, you don't fix it and put it up and set
:20:29. > :20:33.it up and connect people to electricity? Exactly. They do that.
:20:34. > :20:36.How do you make sure they are not ripping off their customers in Kenya
:20:37. > :20:43.for example? Right. That's an interesting place to start. These
:20:44. > :20:46.are really, the crowd investors and the solar entrepreneurs, they are
:20:47. > :20:50.the heroes of our business. They have track records. They have done
:20:51. > :20:54.impact. They know how it works. It is not a question about ripping
:20:55. > :20:59.anybody off. But we have to take your word for it, don't we? You can
:21:00. > :21:04.see and follow the projects digitally. You are there. You can
:21:05. > :21:08.fly to the place if you want to. It is not this generic band of
:21:09. > :21:13.products. It is specific and you can follow it almost on a day by day
:21:14. > :21:23.basis. Isn't there a moral problem you have got western investors
:21:24. > :21:26.making 5% to 12% return on the back of entrepreneurs paying interest on
:21:27. > :21:32.their funds? I don't think so at all. I think that business is
:21:33. > :21:39.sustainable and it is proven itself over the test of time. So as long as
:21:40. > :21:44.the market, these are markets where mobile phone charging could cost
:21:45. > :21:52.between 30 and $50 per kilowatt hour, whereas we pay, you know, 20
:21:53. > :21:57.cents in our part of the world. To really compare interest rates to
:21:58. > :22:01.here in Europe or Sweden or London doesn't work. It is a different
:22:02. > :22:04.game. Sam, we are going to have to leave it there which is a shame
:22:05. > :22:08.because there is so much more to talk about. We will keep an eye on
:22:09. > :22:13.how it goes. It's perhaps hard to imagine these
:22:14. > :22:16.days a world without smart phones But today marks an important event
:22:17. > :22:20.in the history of technology with the launch of the original
:22:21. > :22:22.Apple iPhone. It wasn't the first
:22:23. > :22:24.smartphone but it could be Our correspondent Rory Cellan-Jones
:22:25. > :22:29.was at the original launch of the product in San Francisco
:22:30. > :22:32.and here's part of his So here it is, the shiny
:22:33. > :22:38.new iPhone just unveiled here. It can go on the internet,
:22:39. > :22:42.you can do your e-mail, you can play music and video
:22:43. > :22:45.and you can even make phone calls. So why so much excitement
:22:46. > :22:47.about this device? Just who would queue up at 7am
:22:48. > :22:50.on the streets of San Francisco? Apple's devoted fans, that's who,
:22:51. > :22:52.determined to find out One wants to know the latest
:22:53. > :23:00.Mac products as soon Inside, the man who has revived
:23:01. > :23:06.the company he founded was not We're going to make some
:23:07. > :23:12.history together today. After creating the iPod,
:23:13. > :23:13.the must-have gadget of the past decade,
:23:14. > :23:16.Steve Jobs has spent years wondering It's a sleek device controlled
:23:17. > :23:23.by a touch-screen and it is supposed to bring Apple's design
:23:24. > :23:25.and computing skills Good morning.
:23:26. > :23:30.How can I help you? Yes, I would like to order 4,000
:23:31. > :23:32.lattes to go, please. No, just kidding!
:23:33. > :23:35.Wrong number, thank you. You might think it is
:23:36. > :23:37.just another new phone, but the Apple fans were almost
:23:38. > :23:54.hysterical with excitement. Ten years ago that was Steve Jobs
:23:55. > :23:59.the then boss of Apple. Does that bring back memories? Ten years. I
:24:00. > :24:06.have still resisted. You haven't got one? I have got some Apple stuff,
:24:07. > :24:12.but not the Apple phone. Presumably you have got an android device? I
:24:13. > :24:16.do. What is the next big one? The way we're going, it looks like
:24:17. > :24:21.driverless cars could be the thing of the future particularly I'm
:24:22. > :24:26.thinking in terms of freight, you know, a long desert distances rather
:24:27. > :24:38.than urban. Just to illustrate what a game changer this, it is on the
:24:39. > :24:48.front page of Arab News today. Appleholics celebrate as the iPhone
:24:49. > :24:53.turns ten. One individual spent $50,000. He
:24:54. > :25:00.describes himself as an Appleholic! You can do so much else on it. Rory
:25:01. > :25:04.has written a piece on BBC online which is interesting. He says in the
:25:05. > :25:07.past, before this time ten years ago, phones were basically for
:25:08. > :25:13.calling people. They're not, they are hardly that now. Calling and the
:25:14. > :25:15.odd text. Not even a photo. I remember a strategy piece 20 years
:25:16. > :25:19.ago saying it wouldn't be long before you could live your life
:25:20. > :25:22.without moving from your house because the way the internet was
:25:23. > :25:27.moving on. The fact of the matter is, of course, providing that you
:25:28. > :25:32.have got a hand-set with you, there aren't too many things that you
:25:33. > :25:37.can't do without it. Thank you Richard. We have heard
:25:38. > :25:42.from you, of course, which is something we hope to do on Business
:25:43. > :25:51.Live. Luke says the game changer will be the self driving car.
:25:52. > :26:14.Hello. If your weekend was anything like mine, you probably sat looking
:26:15. > :26:19.at the mild face of winter, laden skies, visibility not that great, a
:26:20. > :26:20.bit of rain in the forecast too. Well, we have