Browse content similar to 22/02/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Rachel Horne and Sally Bundock. | :00:00. | :00:10. | |
The plane-maker's profits slump by more than 60%. | :00:11. | :00:16. | |
Live from London, that's our top story on Wednesday, 22nd February. | :00:17. | :00:33. | |
The big drag on Airbus profits was the company's A400M | :00:34. | :00:38. | |
We'll find out where the project stands now. | :00:39. | :00:43. | |
Also in the programme, Hong Kong's former leader, Donald Tsang | :00:44. | :00:46. | |
We'll get the latest from our correspondent in Hong Kong. | :00:47. | :00:58. | |
And check out the markets, Lloyds Banking Group has | :00:59. | :01:00. | |
posted its best profits for ten years - their share price | :01:01. | :01:03. | |
We continue our Disability Works series by meeting the boss | :01:04. | :01:08. | |
of the tech company where all the consultants are | :01:09. | :01:10. | |
And what's the most selfish thing that you've ever done? | :01:11. | :01:25. | |
A new report on the toughest job interview questions is out | :01:26. | :01:27. | |
and we want to know what's the most surprising thing you've ever been | :01:28. | :01:30. | |
Now, profits have slumped at aerospace group Airbus during 2016. | :01:31. | :01:48. | |
The aircraft manufacturer has reported a 63% fall in net income | :01:49. | :01:50. | |
But that was after a one billion euro charge over its A400M | :01:51. | :01:57. | |
It has been a tumultuous year for the company. | :01:58. | :02:04. | |
It has been forced to accelerate last minute | :02:05. | :02:06. | |
plane deliveries in order to meet key targets. | :02:07. | :02:09. | |
There has also been a slowdown in demand for jets. | :02:10. | :02:12. | |
It has been forced to cut production of the prestige A380 superjumbo. | :02:13. | :02:20. | |
And the A400M military transport plane has also proved a major drag | :02:21. | :02:23. | |
the project has been plagued by delays and technical problems. | :02:24. | :02:29. | |
Robert Wall is senior aerospace and aviation editor, | :02:30. | :02:31. | |
What do you make of the numbers? The Europe joins us now. | :02:32. | :02:38. | |
What do you make of the numbers? The numbers are mixed. On the xhefrtion | :02:39. | :02:46. | |
side, things are fine, it is overshadowed by A400 M where the 1.2 | :02:47. | :02:52. | |
billion charge on top of the 1 billion earlier in the year takes | :02:53. | :02:56. | |
the shine off what would have been a decent year, but that programme is | :02:57. | :03:01. | |
just something Airbus is unable to get its arms around and really get | :03:02. | :03:04. | |
fixed. It seems to be failing to take off at the moment. When will | :03:05. | :03:10. | |
they see that A400M project reaping some rewards for them? Well, that's | :03:11. | :03:16. | |
a good question. Will it ever really reap rewards for them is another | :03:17. | :03:21. | |
question? Right now they're worried about stopping the financial | :03:22. | :03:26. | |
bleeding. The CEO spoke to some of us reporters this morning and said | :03:27. | :03:30. | |
they're going back to the governments to ask for relief so | :03:31. | :03:34. | |
some of the forced penalties that are being forced for delayed planes | :03:35. | :03:38. | |
are being eased. They want the governments to co-operate more to | :03:39. | :03:42. | |
get the plane into the field, that's been very difficult, that's a | :03:43. | :03:45. | |
complicated programme structure. So, lots of reasons for these problems | :03:46. | :03:50. | |
and no clear solutions and certainly no easy solutions. At the same time, | :03:51. | :03:53. | |
the company though has restrict tured. It's the first set of | :03:54. | :04:00. | |
results, isn't it, as Airbus Group, as posed to EADS, what's the outlook | :04:01. | :04:06. | |
for the company as a whole, despite the A400M difficulties? You have to | :04:07. | :04:11. | |
always think about the fact that A400M, it is an important programme | :04:12. | :04:15. | |
for them, but Airbus is all about the commercial airliner delivery | :04:16. | :04:18. | |
market. They delivered strongly last year. Aircraft deliveries, airliner | :04:19. | :04:24. | |
deliveries this should be more than 700. They seem to be executing on | :04:25. | :04:28. | |
their programmes reasonably well. This is another challenging year for | :04:29. | :04:32. | |
them as they will admit. The outlook is good for them on that side, but | :04:33. | :04:38. | |
you know, if you keep having to pay, have the big charges on one or two | :04:39. | :04:42. | |
programmes that's obviously not something that management can really | :04:43. | :04:45. | |
stomach. No, tricky. Tricky times, thank you. Robert Wall from the Wall | :04:46. | :04:49. | |
Street Journal. Interesting. | :04:50. | :04:54. | |
Yahoo has agreed to cut $350 million off its original asking price | :04:55. | :05:00. | |
in the sale of its internet business to US telecoms giant, Verizon. | :05:01. | :05:02. | |
The new deal comes after two huge cyber attacks at Yahoo ending months | :05:03. | :05:06. | |
The world's largest retailer has seen a boost in sales. | :05:07. | :05:12. | |
Wal-Mart has reported profits rising 1.8%, higher | :05:13. | :05:14. | |
An increase in online sales and higher number of customers | :05:15. | :05:21. | |
going in to their stores lifted profits, leading to | :05:22. | :05:23. | |
the tenth straight quarter of comparable sales growth. | :05:24. | :05:32. | |
That's pretty impressive. Lloyds reports its highest profits | :05:33. | :05:41. | |
for a decade. We'll talk more about that in a moment. But also when | :05:42. | :05:45. | |
you're talking about people walking into shops, not the case for the UK | :05:46. | :05:50. | |
high street. Slow progress here in the UK. In terms of access for | :05:51. | :05:55. | |
disabled people, that's part of our disability works week. There is lots | :05:56. | :05:58. | |
of other stories as well on our website. Of course, Lloyds shares | :05:59. | :06:05. | |
going up some 4% on the markets. But all sorts of other stories as well. | :06:06. | :06:10. | |
Just trying to find them here. Lots about Lloyds on the Business Live | :06:11. | :06:17. | |
page. But also Hayes UK, its profits have been stymied somewhat by the | :06:18. | :06:21. | |
decision last June, the UK, to exit the European Union. So an EU | :06:22. | :06:26. | |
referendum took the wind out of the UK interim results for the UK | :06:27. | :06:32. | |
that operating profits in the UK and that operating profits in the UK and | :06:33. | :06:36. | |
Ireland fell by 29% from the six months to the end of December. Also | :06:37. | :06:41. | |
we've got metro Bank, this is another good news story for banking. | :06:42. | :06:50. | |
Metro bank's boss has been a guest on Business Live. The founder is a | :06:51. | :06:56. | |
proud man. Metro Bank coming out with positive results. The markets | :06:57. | :07:00. | |
are buoyant and enjoying the figures. Metro Bank is one of the | :07:01. | :07:12. | |
banks that we're familiar with in the UK. Metro Bank is focussing on | :07:13. | :07:18. | |
bringing customers in and maintaining that customer cashier | :07:19. | :07:21. | |
we heard earlier in the week, we heard earlier in the week, | :07:22. | :07:26. | |
opening three cashierless branches in the States. You just go in. Look | :07:27. | :07:34. | |
at headline, "Boring is beautiful." Lloyds is back to being a boring | :07:35. | :07:39. | |
bank and boring is good! News about lOulds. It was bailed out by the UK | :07:40. | :07:43. | |
taxpayer following the 2008 financial crisis. The Government | :07:44. | :07:48. | |
saying now that the Lloyds will be returned fully to private ownership. | :07:49. | :07:52. | |
There is a 5% stake left which is owned by the UK or UK taxpayers as | :07:53. | :07:57. | |
it were and the plan is for it to be returned fully to private ownership. | :07:58. | :08:01. | |
So lots of stories on our website as ever. Rachel over to you. | :08:02. | :08:07. | |
Sally, that was a thorough and comprehensive coverage of our news | :08:08. | :08:13. | |
stories. Asian stocks up overnight. Despite | :08:14. | :08:20. | |
the yen strengthened. Markets were boosted by strong | :08:21. | :08:24. | |
reports from retailers including Wal-Mart. Let's look at the European | :08:25. | :08:30. | |
markets. We mentioned Lloyds. Their shares are up by almost 5% this | :08:31. | :08:34. | |
morning. They posted their best profits or ten years, also impacting | :08:35. | :08:38. | |
the European markets we will have revised UK GDP figures out for the | :08:39. | :08:42. | |
fourth quarter in under an hour's time. The first reading for the last | :08:43. | :08:46. | |
three months of the year was 0.6%. This report out at 9.30am UK time is | :08:47. | :08:51. | |
an update with more detail of investment. Economists expecting it | :08:52. | :08:57. | |
to stick at 0.6%, something that could be revised up to 0.7%. | :08:58. | :09:02. | |
And Michelle Fleury has the details about what's ahead | :09:03. | :09:04. | |
Wall Street is the US Central Bank, not Donald Trump's economic policies | :09:05. | :09:12. | |
that will be in the spotlight. The US Federal Reserve releases the | :09:13. | :09:16. | |
minutes from its last policy meeting setting and investors will be | :09:17. | :09:19. | |
pouring over it for clues about the timing of any future rate hike. Now, | :09:20. | :09:23. | |
there has been a lot of speculation as to whether or not the Federal | :09:24. | :09:29. | |
Reserve may increase rates, may lift rates, in March at their next | :09:30. | :09:35. | |
meeting. Janet Yelland, the yet of the Central Bank was testifying on | :09:36. | :09:38. | |
Capitol Hill and was suggesting that the economy was improving and there | :09:39. | :09:42. | |
were dangers of waiting too long to move. Now, given that we're talking | :09:43. | :09:46. | |
about an environment in which interest rates are going up, there | :09:47. | :09:49. | |
has been concerns about what the knock-on effect will be on borrowing | :09:50. | :09:53. | |
costs, specifically mortgages. We should get another clue as to how | :09:54. | :10:00. | |
the housing sector is performing when the National Association of | :10:01. | :10:02. | |
Realitiors releases home sales for January and Wall Street will be | :10:03. | :10:05. | |
looking at that for any clues as to whether or not there is a slowdown | :10:06. | :10:08. | |
in the housing sector which after all has been one of the bright spots | :10:09. | :10:10. | |
for the US economy. Jane Foley is Senior | :10:11. | :10:16. | |
Currency Strategist Nice to see you. So much going on | :10:17. | :10:24. | |
and Michelle touching on the Fed minutes which are out today. Daopk | :10:25. | :10:26. | |
there will be a lot of anticipation as to what might be in there in | :10:27. | :10:30. | |
terms of clues about the next rate rise? There really is. We have had | :10:31. | :10:33. | |
the statement for the meeting already. This was a couple of weeks | :10:34. | :10:36. | |
ago. We get the full report and the market is looking for clues a to | :10:37. | :10:40. | |
whether or not the Fed is of the mind to hike interest rates in March | :10:41. | :10:43. | |
June. The Fed said it could hike three times this year. The markets | :10:44. | :10:49. | |
are a little bit dubious or has been dubious, but there are seven more | :10:50. | :10:51. | |
meetings this year, if it is going to do three hikes, it has got to get | :10:52. | :10:57. | |
a move on. Several officials have been hawkish meaning that they are | :10:58. | :11:00. | |
more likely perhaps to raise rates than not, but there is still lots of | :11:01. | :11:07. | |
unsirenities in the US economy particularly related to Trump and | :11:08. | :11:11. | |
what he could do with spending. This is the second rev of figures. Just | :11:12. | :11:16. | |
explain that to us. We get the first GDP, only 40% of the information | :11:17. | :11:19. | |
they need, is that right and then they get more and they go, "Yeah, we | :11:20. | :11:25. | |
were right." Or, "No, we were wrong." They get more data coming in | :11:26. | :11:30. | |
and they are able to fine tune the data and we will get more of the | :11:31. | :11:33. | |
breakdown, we will see how investment was in the final quarter | :11:34. | :11:36. | |
of last year and the services sector. The services sector is the | :11:37. | :11:39. | |
biggest part of the UK economy and how that fared as well. What do you | :11:40. | :11:43. | |
make of Lloyds? Shares up strongly. The numbers on the face of it look | :11:44. | :11:47. | |
quite spectacular, don't they? They really do. This is a huge increase | :11:48. | :11:52. | |
in profits relative to the previous quarter, but of course, there are a | :11:53. | :11:58. | |
little bit of warning signs and provisions for bad loans up 14% and | :11:59. | :12:03. | |
total income below last year. Lloyds said their outlook depends on that | :12:04. | :12:07. | |
of the UK economy and there are warnings and uncertainty about the | :12:08. | :12:10. | |
UK economy related to how the consumer will fair because of Brexit | :12:11. | :12:13. | |
uncertainty. All right, thank you very much, Jane. Jane will be back. | :12:14. | :12:18. | |
Jane have a think about what the trickiest interview question you've | :12:19. | :12:22. | |
been asked. Or that you have asked! Oh yes. Confessions of an | :12:23. | :12:26. | |
interviewer on Business Live! Still to come, we'll get the latest | :12:27. | :12:31. | |
in our Disability Works series. The boss of a leading tech firm | :12:32. | :12:34. | |
explains why his firm only employs You're with Business | :12:35. | :12:37. | |
Live from BBC News. Lloyds Banking Group, | :12:38. | :12:44. | |
which also owns Halifax and the Bank of Scotland, | :12:45. | :12:48. | |
has reported its full It's annual pre-tax profits rose | :12:49. | :12:51. | |
to ?4.2 billion from ?1.6 billion You might remember Lloyds was bailed | :12:52. | :12:54. | |
out at the height of the financial crisis when the Government | :12:55. | :12:59. | |
spent ?20.3 billion to But in recent months, the Government | :13:00. | :13:01. | |
has been quietly selling off its remaining shares so it's now | :13:02. | :13:08. | |
under 5% owned by the taxpayer. Our Business Correspondent Theo | :13:09. | :13:11. | |
Leggett joins us now Give us a bit more detail on Lloyds. | :13:12. | :13:20. | |
Look at that chart behind you. That talks about the reaction today. | :13:21. | :13:26. | |
Well, you always know I like a big spike on one of my graphs. I've got | :13:27. | :13:30. | |
one this morning. Is how the markets reacted from the results from | :13:31. | :13:34. | |
Lloyds. Up 3.6%. A certainlying of optimism. On the face of it, the | :13:35. | :13:40. | |
results look very good, but just as HSBC's results yesterday looked bad, | :13:41. | :13:44. | |
but weren't as bad beneath the surface, these aren't as good | :13:45. | :13:47. | |
beneath the surface. We are seeing a big increase in profits over last | :13:48. | :13:51. | |
year when you account for things like PPI insurance payments. Now, | :13:52. | :13:55. | |
last year, Lloyds had to set aside about ?4 billion for compensation | :13:56. | :14:00. | |
for pment PI mis-selling, payment protection insurance, this year it | :14:01. | :14:03. | |
is just ?1 billion and that elevates the profits. If you look at | :14:04. | :14:08. | |
underlying profits, it is slightly worse than last year. So although we | :14:09. | :14:12. | |
have had the enthusiastic response from the markets, underneath it all, | :14:13. | :14:17. | |
you know, the bank is still trueing along reasonably well, but not in a | :14:18. | :14:22. | |
spectacular fashion just as HSBC yesterday when you stripped out the | :14:23. | :14:25. | |
one off items, the writing off the value of businesses that haven't | :14:26. | :14:28. | |
performed well, underneath it all, it was doing pretty much the same as | :14:29. | :14:33. | |
it had been the year. So reasons to be optimistic, but it depends really | :14:34. | :14:37. | |
for Lloyds, it is a boring bank and the investors seem to like boring | :14:38. | :14:40. | |
banks today, it is a bread and butter bank, it is a retail bank | :14:41. | :14:45. | |
focussed on the UK, but that means its performance depends on what | :14:46. | :14:48. | |
happens with the UK economy and we have a lot of uncertainty over the | :14:49. | :14:50. | |
Brexit negotiations and that's going to affect Lloyds. They say the | :14:51. | :14:53. | |
outlook is reasonable, but who can tell? | :14:54. | :14:57. | |
Thank you, Theo, we will see you again soon. | :14:58. | :15:01. | |
Have you ever been delayed on a flight? Yes. Shocking. Five airlines | :15:02. | :15:08. | |
that fly into Europe have been told they must pay compensation to | :15:09. | :15:12. | |
passengers for delays if they are at their final destination more three | :15:13. | :15:15. | |
hours late. You're watching Business Live - | :15:16. | :15:17. | |
our top story, European aircraft maker Airbus sees its profits plunge | :15:18. | :15:19. | |
by more than sixty per cent. Its A400M military transport plane | :15:20. | :15:25. | |
has been plagued by delays and technical problems, | :15:26. | :15:30. | |
and has put a big dent in earnings. A quick look at how | :15:31. | :15:33. | |
markets are faring.... Lloyds is the star of the week. | :15:34. | :15:46. | |
Metro bank shares also other percent. -- up 1%. | :15:47. | :15:55. | |
It's thought that around 70 million people around | :15:56. | :15:57. | |
the world are somewhere on the autistic spectrum. | :15:58. | :15:59. | |
Yet perceptions about autistic people and their abilities can | :16:00. | :16:01. | |
We continue our week long Disability Works series by focusing | :16:02. | :16:05. | |
It was founded by Dirk Muller-Remus in Berlin in November 2011. | :16:06. | :16:24. | |
Auticon taps into the cognitive abilities of Autistic adults, | :16:25. | :16:26. | |
skills such as logic, pattern recognition, | :16:27. | :16:28. | |
precision and ability to intuitively spot errors - | :16:29. | :16:30. | |
and gets them into mainstream employment as consultants. | :16:31. | :16:32. | |
The enterprise employs 140 staff, 80% which are | :16:33. | :16:34. | |
Its clients range from big corporate names like Siemens, | :16:35. | :16:37. | |
Allianz and UniCredit to smaller start ups. | :16:38. | :16:40. | |
Kurt Schoeffer is the CEO of Auticon. | :16:41. | :16:47. | |
Thank you for coming in. How did the company come about? The founder is | :16:48. | :16:59. | |
autistic himself, he could find ways strengths and deficits were. His | :17:00. | :17:04. | |
thinking was, if he was helped with the deficits, should he not be | :17:05. | :17:08. | |
people. The company was started, people. The company was started, | :17:09. | :17:15. | |
presumably it was quite difficult to get going? Very specific company, | :17:16. | :17:19. | |
looking for very specific individuals. How do you get the ball | :17:20. | :17:26. | |
rolling? First of all, we were lucky to find quite fast and very good | :17:27. | :17:29. | |
colleagues, we are very interesting CV 's. Particularly strong in the IT | :17:30. | :17:39. | |
field. The issue was to find customers at the beginning. We were | :17:40. | :17:44. | |
a tiny company, did not have a big track record, so one. The theme | :17:45. | :17:51. | |
itself helped us, many people understand, if you bring autistic | :17:52. | :17:54. | |
people into the right areas, they are good at working, mental | :17:55. | :17:59. | |
recognition, finding mistakes without needing to look for it. We | :18:00. | :18:06. | |
tried it out, fortunately we got big support from shareholders, we were | :18:07. | :18:11. | |
able to step into companies like Siemens, and our colleagues did a | :18:12. | :18:19. | |
tremendous job. Immediately the orders were elongated. We rolled out | :18:20. | :18:27. | |
to Germany, then the UK and France. Happy to replicate this as often as | :18:28. | :18:32. | |
possible. You get a consultant, you employ them, they work for you, | :18:33. | :18:37. | |
somebody on the autistic spectrum. The pair them up with a buddy and a | :18:38. | :18:41. | |
life coach, they go with them to the client, to help them with the things | :18:42. | :18:45. | |
they are not so good at, the social skills. Exactly, besides the | :18:46. | :18:53. | |
fantastic consultants, the most important role we have in the | :18:54. | :18:59. | |
company is our job coaches. Their task, in a four month period, | :19:00. | :19:02. | |
preparing the consultants before sending them out to customers, they | :19:03. | :19:07. | |
need to understand what works, and what does not work. We are very open | :19:08. | :19:12. | |
with that. We tell the customer exactly what he can expect. We tell | :19:13. | :19:18. | |
the consultants what you can expect. We have a fantastic track record | :19:19. | :19:22. | |
than we did not need to stop any project. Tell us some of the people | :19:23. | :19:29. | |
you have taken on board. Quite incredible stories, trying over and | :19:30. | :19:33. | |
over again to get employment, and failing. 10-15% of autistic people | :19:34. | :19:41. | |
are on the first level market. How many of them having jobs suiting | :19:42. | :19:44. | |
their special knowledge or special interest? The number is single | :19:45. | :19:53. | |
unemployed, people who have not unemployed, people who have not | :19:54. | :19:58. | |
survived the trial period in other companies five or six times. It is a | :19:59. | :20:07. | |
whole range, the 20-year-old guy programming since he was eight years | :20:08. | :20:12. | |
old, up to doctors and professors with 30 years professional | :20:13. | :20:19. | |
experience. You have to provide a parental role as the boss of the | :20:20. | :20:23. | |
company? You have to look after them completely. Not just about their | :20:24. | :20:27. | |
role. Providing a service for the clients. The important thing is we | :20:28. | :20:33. | |
do not want to offer jobs, we want to offer careers for the guys. They | :20:34. | :20:37. | |
can develop nicely if you support them in the right area. At the end | :20:38. | :20:42. | |
of the day, we feel very responsible for what we're doing, for the | :20:43. | :20:47. | |
consultants, the employees. It is a fantastic thing to do. Our customers | :20:48. | :20:54. | |
also feel quite strongly in the teams where the consultants are, | :20:55. | :20:57. | |
they make a big difference, from a working point of view, they also | :20:58. | :21:01. | |
change the perception. People who are different. That is what we can | :21:02. | :21:09. | |
do in the end, we can help people to understand how good it is to have | :21:10. | :21:12. | |
diverse teams, how beneficial it is for everybody. You are speaking in | :21:13. | :21:17. | |
the green room from the attraction for a lot of clients is your | :21:18. | :21:22. | |
consultants can solve the unsolvable. What sort of information | :21:23. | :21:29. | |
do you need to give the clients. There may be brutal honesty? Do not | :21:30. | :21:38. | |
force a handshake? First of all we call forces a different operating | :21:39. | :21:43. | |
system. This can lead to results you would not expect. Typically as we | :21:44. | :21:50. | |
know our consultants in and out, we have to give a few tips to help | :21:51. | :21:53. | |
partners. Do not force them to shake hands. Do not be surprised about | :21:54. | :22:00. | |
honesty, all those kind of things. Literally two, three things for | :22:01. | :22:05. | |
consultant. If you see the feedback of our customers, you can see on one | :22:06. | :22:11. | |
hand, great results, on the other side much easier than they thought | :22:12. | :22:15. | |
to bring people. Thanks so much for coming in. Good to talk to you and | :22:16. | :22:20. | |
hear about your company. So many more stories like this on our | :22:21. | :22:21. | |
website. You can find more on our special | :22:22. | :22:22. | |
coverage of this issue... and how businesses | :22:23. | :22:25. | |
are dealing with it, And on Twitter at hashtag - | :22:26. | :22:27. | |
disability works. The former leader of Hong Kong has | :22:28. | :22:39. | |
been sentenced to 20 months in prison for the misconduct in office. | :22:40. | :22:44. | |
He was found guilty of hiding dealings with Hong Kong tycoon when | :22:45. | :22:50. | |
applying for broadcasting licences. We have more details from Hong Kong. | :22:51. | :22:58. | |
Giuliana, this sounds quite shocking, the man in charge of the | :22:59. | :23:03. | |
city stayed behind bars. Extremely shocking. The judge said never | :23:04. | :23:10. | |
before in his entire judicial career had he seen someone falls so | :23:11. | :23:15. | |
quickly. He was sentenced today. The jury found him guilty last week, one | :23:16. | :23:20. | |
charge of misconduct in public office. They essentially believe he | :23:21. | :23:25. | |
concealed his business relationship with a Hong Kong businessman, at the | :23:26. | :23:30. | |
time that the businessman was trying to get his licences past three. -- | :23:31. | :23:40. | |
passing through. Guilty on one count, not guilty on the other. | :23:41. | :23:44. | |
Looks like the prosecution will want to press for very real | :23:45. | :23:48. | |
Jane Foley is Senior Currency Strategist at Rabobank - | :23:49. | :23:55. | |
The 20 toughest interview questions. Some interesting questions? Some of | :23:56. | :24:09. | |
them, I have been asking the make-up ladies some of them, asking about | :24:10. | :24:13. | |
sexuality, whether they were planning to have a family. I was | :24:14. | :24:18. | |
asked, what does your husband do? Trying to work out whether I was | :24:19. | :24:23. | |
thinking of taking maternity leave. Not very nice questions. We had a | :24:24. | :24:30. | |
tweet from one viewer, saying have you ever attempted to overthrow the | :24:31. | :24:37. | |
government, or the state of Texas? What about the one, what am I | :24:38. | :24:45. | |
thinking? You are thinking, you should hire me. Is that the right | :24:46. | :24:54. | |
response? Some of the other stories. In the Telegraph, the Bank of | :24:55. | :25:01. | |
England, our economic forecasts will always be wrong. That is the | :25:02. | :25:05. | |
headline, but not actually what they said. It is referring to the | :25:06. | :25:16. | |
forecast before breakfast. The doom and gloom of the leave out. The | :25:17. | :25:21. | |
chief economist said it was a Michael Fish moment. One of the | :25:22. | :25:25. | |
reasons they got it wrong, and many forecasters got it wrong, the bank | :25:26. | :25:30. | |
anticipated that consumers would be so anxious they would stop spending | :25:31. | :25:35. | |
and save more, they did not, in fact they borrowed more, or | :25:36. | :25:36. | |
wheels of the economy. The most wheels of the economy. The most | :25:37. | :25:41. | |
recent lending data, there has been a calming down, retail sales in | :25:42. | :25:45. | |
December rising. For our international viewers, | :25:46. | :25:54. | |
Michael Fish was a weather forecaster who got a very wrong. See | :25:55. | :25:56. | |
you soon. -- got it very wrong. Hello. Some really nasty weather on | :25:57. | :26:18. | |
the way tomorrow, in the guise of Storm Doris. Likely to cause some | :26:19. | :26:20. | |
disruptive | :26:21. | :26:22. |