16/02/2017 BBC Business Live


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with Susannah Streeter and Aaron Heslehurst.


Eight years in the making, the European Parliament backs a big


Could it serve as a model for a future British deal,


Live from London, that's our top story on Thursday 16th February.


It's Canada's biggest trade deal since the controversial


North America Free Trade Agreement, but not everyone is a fan of CETA.


We'll run you through the details later in the show.


Also in the programme: Second time lucky?


Prosecutors in South Korea get another shot at arresting


Let's look at what is happening on the markets. The board is playing up


a little, I'm afraid, we can see the Footsie slipped a little after a bit


of a lacklustre run in Asia. Do you fancy yourself


as a James Bond... Later in the programme,


we'll speak to the boss of a company providing


high octane team-building exercises. Exciting or just excessive?


Stay tuned and decide for yourself! Also today, Nokia could be


resurrecting the iconic 3310 phones. So we want to know,


what retro technology would you like to bring back?


Just use the hashtag, #BBCBizLive. After eight years of negotiations,


the EU parliament has approved a landmark free trade deal


with Canada. Lawmakers in Strasbourg voted


in favour of the so-called CETA agreement, which is hoped to add


billions of dollars both Once fully implemented,


the deal will eliminate 99% of the tariffs between


Canada and the EU. And the European Commission


estimates that this could increase trade between the two regions


by nearly a quarter. Now that the EU Parliament has


given the green light to the deal, both sides can start


removing trade barriers. But the agreement goes


beyond the simple removal of tariffs and calls for further reforms


which would require ratification This includes the controversial


measures such as the creation of a dedicated


court to settle disputes CETA is Canada's biggest trade deal


since the North America Some campaign groups have pointed to


CETA as a potential model for Brexit, once the UK formally leaves


the European Union. Andreas Hoepner, is an Associate


Professor of Finance Great to have you with us in the


studio. A lot of MEPs giving themselves pats on the back, using


words like, a watershed moment, EU trade policy will never be the same,


so who is the biggest winner, the EU or Canada?


I would say both are winners, but the biggest winner is Canada. Canada


will have access coming forward to the North American market, and the


European market. Europe certainly is a winner, following 2016, it is a


successful Europe. The biggest winner within Europe, I think is


France, because of the relationship with a French-speaking area.


That is a good point. Are we here, with there? It has still got to be


ratified, and I write, by all the members. And that was little


Belgium! The French speaking part of Belgium.


Region parliament has two ratify everything, so there are a lot of


steps to go through. -- has two ratify. It seems quite likely that


it is all going the right way. We have elections, could they


disrupt? If Germany gets a change, the Netherlands, could it change the


deal? We have seen a level of opposition


as well. All the protesters that stormed the European Parliament


building, dressed up, saying it was a poor deal, anti-globalisation


protesters, and that strength of feeling is growing, isn't it?


We have elections. Election forecasts are difficult bees days.


Don't listen to the polls! It could change the European Union


more generally. The protesters are important, and make a lot of


relevant points, from an environment perspective, but if you ask them to


pick a deal, nearly everyone would take CETA. Essentially, some of the


concerns have been heard. The deal has been made better from their


perspective to a degree, and the protest will continue, but it is


better for Europe of the two deals. Some suggest it is such a good deal,


the model of it, not we, says the Australian, the Brits, as a possible


model to use a trade model for when Brexit happens.


The Brits can very much look at it as a deal for them, and Canada, and


for the UK and Europe deal, it doesn't cover financial services,


and that is an important point. It does not cover it all. The same


question, does Europe see it as a potential deal, or look to


Switzerland and Norway four separate deals? I do really think it is


relevant. Andreas Hoepner, thank you for your


time and for coming in. Donald Trump's choice for labour


secretary has pulled out of the race Andrew Puzder lost the support


of several Republican senators after he admitted employing


an illegal immigrant The fast-food billionaire had been


criticised for his remarks on women He's the first Trump cabinet pick


to fail to secure a nomination. Internet group Yahoo has reportedly


agreed a price cut on its initial Verizon's purchase of Yahoo's core


internet arm was put in doubt last year after disclosure


of two cyber attacks. Several reports in the US said Yahoo


has now accepted a price cut of up to $350 million and agreed to share


liability with Verizon News of the renegotiated terms


was first reported by Bloomberg, which said an announcement


could come this week. Elsewhere, Snapchat, all the


Internet giant's throne contenders, look at Snapchat.


They said it could be 25 billion, this is when it goes public, and


lists in New York on the stock exchange. It came up with a


valuation of 19.5 billion to 22.2 billion. It has never made a profit,


and it is a similar story to Facebook.


It is a unicorn. We know that already. Similar to five years ago


in 2012, with Facebook. Looking at Twitter as well, it is


still struggling. Everyone is saying the same that


Snapchat has to learn to monetise. It does succeed in having a lot of


younger users, which Twitter is failing to do. We will have two C.


Do you use it? -- we will have to see.


For the second time in three weeks, a court will decide whether to grant


a request to arrest the head of South Korea's largest company.


Will the prosecutors be lucky, if you will, this time?


We don't know yet. We will find out at the end of this week, but we


speak of the de facto head of Samsung group. He is trying to avoid


a second arrest warrant after allegations against him were widened


to include concealing a criminal profit and hiding assets overseas.


This is along with the earlier claims of bribery, embezzlement and


perjury. Mr Lee has denied wrongdoing. The South Korean


president has orally been impeached, hushed -- already been impeached.


While the arrest has been sought today, investigators have also today


been denied access to the blue house, South Korea's seat of power


to question the nation's president. The plot thickens. That is a story


we will stay across. There has been a starter in world markets.


Japan's Nikkei fell half a per cent over worry that perhaps the global


Another positive assessment of the US economy,


and reassurance over tax reform from President Donald Trump.


Lets take a quick look at how European indices have opened.


They are all down, they have pretty much run out of steam after that


lacklustre session in Asia. Michelle Fleury has


the details about what's ahead US stocks sale into Thursday powered


by record highs on the indexes. They all finished at all-time highs.


While the American Pluto system may feel like it is in chaos. The


economy is in rude health. Janet Yellin appeared at Capitol Hill on


Thursday and reiterated the strength of the US economy. And for proof,


she could point to retail sales, which again, were significantly


higher, and showed a good deal of strength. What about the other


pillar of the US economy? That is the housing market. With interest


rates going up, and with signs that there might be more rent rises to


come, what will it do to borrowing costs? What is the knock-on effect


for housing? Economists will be looking at housing starts, as well


as wielding permits for January as an early indication.


James, good to see you. Thanks for coming in. We want to start on the


US, the proposal, the border tax, and I believe all the US retailers


met Donald Trump yesterday and said they didn't want it.


It has not been reflected, the import tax could affect the bottom


line. Quite right. There has been a huge


wave of infusing as in, looking at it this one it. They have welcomed


the Trump agenda. They have argued for a lengthy period of two


challenges they face on taxation and regulation, and Mr Trump's headline


expectation. He will address the challenges, and it has gone down


well. A border charge, a tariff, it is a tax by a different route. That


is worrying, interns of the sustainability of the expected


earnings rate. The index of the larger companies in the United


States, pencilling in at 11 percentage points of this year, 12


next. It allows the market to get reasonably to 2400 or 2500. More


than that, it looks like risky territory, as we seal real evidence


that we can get sustainable noninflationary growth. Given that


we have had employment at less than 5% to nine months in a row in the


States, it is hard to see that achieved.


You will take us through the papers when you come back.


Still to come: Do you fancy yourself


as a James Bond... Later in the programme,


we'll speak to the boss of a company providing


high octane team-building exercises. Exciting or just excessive?


Stay tuned and decide for yourself! You're with Business


Live from BBC News. Iceland has been ranked, the store,


the top supermarket for online shopping in a new Survey by Which?


magazine. Waitrose has come top


for instore experience. Asda has fallen to last place


behind Tesco and Sainsbury's. Richard Headland is the editor of


Which? magazine. a bit of a surprise, Richard.


What is Iceland doing? How has it edged ahead of Waitrose


and the big names you would expect, ploughing so much into online


deliveries. Iceland is still a relative newcomer


to the online shopping game. It is the second year running they have


come top in the online charts and are doing much better as an online


supermarket. Waitrose and M are coming tops again this year.


What is the secret of Iceland's success? What are they doing? Is it


just on cost, or is there something about the customer service? It must


be that as well. They do really well on value for


money. That is especially important when people are shopping online


because they are doing their big shops online and getting more stuff


delivered. It is also really good on substitutions, the driver service,


convenient delivery slots. It is making sure you get the stuff you


ordered when you expected to get it. Online is crucial now, isn't it, for


all the big supermarkets, and getting that right is really


essential for the bottom line. It is interesting to see Waitrose


top in the bricks and mortar but bottom of the online survey, it


there is scope for improvement with some of the big name, in the bricks


and mortar survey you have Aldi and Liddle challenging the likes of M


and Waitrose, five-stars for value for money, the quality of the


products is good. Some way to go on the quality of the instore


experience though. Richard, great stuff, we appreciate your time.


Short and sweet. Do you shop at Iceland? I don't think I have


ever... If it is cheaper I like it, I am not posh or stuck up with my


shops. Preponderance Tata worker, the Tata workers quid pro quo, they


voted yesterday to close their final salary pension scheme, which had


assets of about 15 billion. They want to have a job. Absolutely.


After eight years of negotiationses the EU par. Has approved a landmark


free trade deal with Canada. Lawmakers in Strasbourg voted


in favour of the so-called CETA agreement, which is hoped to add


billions of dollars both Once fully implemented,


the deal will eliminate 99% of the tariffs between Canada


and the EU and the European Commission estimates that this


could increase trade between the two Have you ever dreamt


of being James Bond? One company says it can make


those dreams a reality! Secret Me is a company offering spy


experience weekends, which teach things like surveillance


and hand-to-hand combat. The packages are run by ex-special


forces operatives and are designed to let people find out how


they would react in But the price tag -


which can run up to ?250,000 for a fully immersive espionage


experience - means only Sara Fazlali is the


co-founder of Secret Me. Thafrn you. It is a huge price tag,


who is paying it? We have all sorts of clients, from hedge fund manager,


CEOs, A-lister, entrepreneur, to kind of just business people, and


traders who want to do something different and learn about


themselves, a bit more. I want to know, do I come to you and you have


a something like, I don't want to kill Susanna one day as a pretend. I


am fully trained. You could kill me. How does it work? We have a list of


packages and you have to do the first training weekend before you


can do the immersive kind of experience, I guess. And you can


choose between what we offer, so you can choose whether you want to do


driving or not. You can choose whether you want to do active


shooter or kidnap and hostage rescues, so within the different


skills you can say can we focus more on that one and we say do you want


to be Lara Croft or Jason born. You can adapt and change and make it


more about you and your group. The thing is, if you are an employer and


you realise your CEO has spend 250,000 on a weekend experience you


might be mightily... You might be might aggrieved I should say. Excuse


me. I I am using it in the American term The weekend is only 10,000. Oh,


?10,000 So it is a much different price tag between it and I don't


think it is, is there a price tag to kind of understanding yourself, how


you cope with stress, learning how to think in a different way when you


are under pressure? Is it a hard sell? Or when you start it about six


years ago. It was, because there is nothing else like us out there, it


was a very new product and getting people to understand it is not just


an experience you are learning real life skills that are useful in every


day scenarios as well, is, is a challenge. But now we have we are


almost six years old, people understand that, we have been out


there and we get a lot of return there and we get a lot of return


client, the CEOs are saying can we bring our entire team. You could get


the same experience if you signed up as a reSerb visit for the Armed


Forces. -- reservist. You rub offered the same kind of training.


We are not really. Our focus is on the psychology behind you,


understanding your psychology, how you cope with stress, how to use


that with other people. We teach seduction that how the mind and body


connect. I will sign up for that one! I can see you doing that one.


It does remind me of The Game. That is where it came from. I saw the


film. It came from two things, one is that film and I love the idea of


immersive thing that challenges you, we don't have my experiences in life


that help us find out what we are capable of. You can though gone on


mini experience, other companies provide things like you pay for an


evening to go on a date and escape from a locked room. Have you seen


more firms offering similar things? It is a different ballpark, it is


interesting for us, those one day experiences are something we could


do but for us it is about the immersiveness, we have special


forces and intelligence officers is as intruck stores, you are are


really being taught from the best of the best. If you turn round at the


end and you not good at surveillance you will never be, you understand


what that means and where your assets is lie. We will leave it


there, we really appreciate it. I am glad you said your name because I


called you Sarah before, it is Sarah.


-- Sara. In a moment we will take you through


the business pages but first a quick reminder of how to get in touch with


us. We want to hear from you too. Get


involved on the BBC business live web page.


On Twitter and you can find us on Facebook, at BBC business news.


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


What other business stories has the media been


James Bevan from CCLA Investment Management joins us again.


We are are have been talking about the dock -- Nokia, the come back of


the Nokia, that hand set that was so popular and went out of fashion, but


apparently, Nokia may be thinking about a revamp, do you think it will


fit well in this current market? If one were to say what surveys tell us


about people want, they want simplicity, they wand indestruct


built, they want low cost, simplicity of operation and a better


battery. The bat triis fabulous, one Samsung has a better one but very


few people wanted it because it didn't have the same sort of classic


functionality that the Nokia had. I worry in bringing it back they will


miss the fact that people would like it slightly upgraded, so they would


like basic additional features like Facebook. Smart stuff about it. Can


I say, thank you for your tweet, we asked you what other retro product


would you bring back. Terry said the Walkman. I agree with live in a


bubble of history where we remember the things we enjoy, we don't


remember how irritating it was when the cassettes got stuck in the


machine, I mentioned, a couple of other ones... Game Boy, that, Nokia


hand sets are sought after, the early versions aren't they, even


mobile phones... It be the 59 euros for the new one, that is the sort of


thing people going away for a weekend can take it and if they lose


it or break it, so what? It is not the same problem if you lose your


smartphone. Talking about battery life. Mineral is actually getting,


cobalt is getting really popular, hedge funds are stockpiling cobalt


and that is because there is demand from the ultra long life batteries.


Interestingly the consensus expectation is that the price will


fall from here through 2017 and 2018, the market is in great turmoil


in terms of trying to understand where it is going from here. There


are ethical issues because a lot of the cobalt is mined in thing on go


using child labour, this will cause a furore. Amazon on the brink of


launching its fashion label, do you think they could make a success?


Yes, they have been successful in food retailing. They have


demonstrated delivery and quality matter more than anything, they can


do both. They do. London Fashion Week launching... They have brands


already, they are doing a certain number of products and they are


demonstrating success. Thank you James.


Good morning. Bit more sunshine round today compared with yesterday,


it is zrieer foreEngland and Wales, Scotland, Northern Ireland more of a


breeze compared with yesterday, that breeze comes because of a low


pressure to the north of Scotland, winds, touching gale force for a


few. We will see a lot more showers round, showers in western Scotland


this morning, only one or two reaching the east. Showers easing


into the afternoon but Northern Ireland after a bright Morning


Clouding over with rain. Much of England and Wales mist and fog this


morning clearing to leave a largely dry and sunny day, especially in


southern County, pleasant in the sunshine too, with a gentle breeze,


could see temperatures round Torbay, Exeter getting to 14. Other spots


close to 12, 13. Cloud into the Midlands, the outside chance of a


shower. Patchy rain to end the day. Damper end in Northern Ireland,


heavy bursts of rain, Scotland, showers tend to ease off, as does


the breeze, and some will finish the day with a bit of sunshine.


Temperatures above where they should be for the time of year. The rain in


Northern Ireland will come and go all night long. Extending in north


Wales, parts of north-west England and with a bit of light rain towards


the south-east, that cloudier zone is where temperatures will hold up.


To the south-west, may get a frost, greater chance of a frost, North


East England fog patches. It will take a while to shift. Lovely bright


day, lots of sur, a bit of sunshine at times in the south-west and South


Wales. Not as much as today, from Northern Ireland, through north-west


England, down to the Midland and the south-east, fairly cloudy day, some


sunny spells, temperatures where you get the sunshine and with light wind


feeling on the pleasant side, most above where it should be for the


time of year. Into the weekend, we stay with the temperatures above


where they should be. Nights on the cool side where skies are clear,


some sunshine round for all of us throughout the weekend. There will


be rain at times too. Northern and western parts of the UK, strong and


gusty winds, that rain Superintendent by the end of the


day. The further south and east you stay dry. Into Sunday we start with


patchy rain, that clears through to sunshine, a sunnier start. Wind into


Scotland later in the day. Enjoy your Thursday.


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