Browse content similar to 02/03/2017. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
This is Business Live from BBC News with Susannah Streeter | :00:00. | :00:00. | |
Investors scramble for Snapchat - in the biggest tech | :00:00. | :00:11. | |
But is the app a cash cow - or just a craze? | :00:12. | :00:19. | |
Live from London, that's our top story on Thursday 2nd of March. | :00:20. | :00:36. | |
So today is the day for the most anticipated tech market | :00:37. | :00:40. | |
floatation since Twitter - SNAP shares will begin trading | :00:41. | :00:42. | |
on Wall Street later at $17 a share valuing the company at $24 billion. | :00:43. | :00:46. | |
Also in the programme - the fallout from Yahoo's | :00:47. | :00:49. | |
massive security breaches - Marissa Mayer is to take | :00:50. | :00:52. | |
a significant pay cut and the company's top lawyer | :00:53. | :00:54. | |
And the global market rally continued in Asia earlier today - | :00:55. | :01:02. | |
this is the scene right now in Europe right after another | :01:03. | :01:05. | |
record breaking night for the Dow in the US. | :01:06. | :01:07. | |
We'll talk you through all you need to know. | :01:08. | :01:13. | |
We will be getting the inside track on how our cities might look in the | :01:14. | :01:19. | |
world's largest property fair. Today world's largest property fair. Today | :01:20. | :01:25. | |
we want to know, do you love snatch at, or do you have no idea what it | :01:26. | :01:27. | |
is? -- SnapChat. The programme is jam-packed day, so | :01:28. | :01:39. | |
we will make it as snappy as we can. We start on Wall Street | :01:40. | :01:52. | |
where investors are gearing up for what could be the biggest - | :01:53. | :01:54. | |
and certainly the most hyped - technology flotation | :01:55. | :01:57. | |
since Twitter in back 2013 - In a few hours' time shares in SNAP | :01:58. | :01:59. | |
- the owner of photo messaging app Snapchat - | :02:00. | :02:04. | |
will begin trading Will it end up a stock market | :02:05. | :02:05. | |
giant like Facebook - or - like Twitter - | :02:06. | :02:10. | |
a bit of a flop? The flotation has been | :02:11. | :02:12. | |
hugely oversubscribed, Late on Wednesday it | :02:13. | :02:13. | |
priced its shares at $17 - above the $14-to-$16 range it | :02:14. | :02:19. | |
had previously indicated. That will give the company | :02:20. | :02:21. | |
an opening valuation More than twice as much as Twitter | :02:22. | :02:23. | |
at its current share price. That's despite a couple | :02:24. | :02:34. | |
of major worries - Firstly, Snapchat has | :02:35. | :02:38. | |
yet to turn a profit. In fact it lost over half a billion | :02:39. | :02:42. | |
dollars last year alone. Plus shareholders | :02:43. | :02:47. | |
who buy in will not The founders of the company | :02:48. | :02:48. | |
will retain complete They are incredibly young - | :02:49. | :02:52. | |
and as of later today - Evan Spiegel and Bobby Murphy - | :02:53. | :02:56. | |
both in their 20s - will be worth around | :02:57. | :03:01. | |
$4 billion each. the younger audience only brands | :03:02. | :03:32. | |
want to reach. For me personally it makes me feel like a dinosaur. I | :03:33. | :03:36. | |
find this out incredibly difficult to use. If we rewind and look at | :03:37. | :03:41. | |
Facebook. When it went on the public market it had huge scale. Millions | :03:42. | :03:46. | |
of people use it. Not just young people. For me that's one of the | :03:47. | :03:50. | |
biggest concerns. It has a lot of young users. There is optimism | :03:51. | :03:59. | |
around because it has quite a few, given its young age, but can they | :04:00. | :04:04. | |
entice more to keep that user base growing? Well, as we have seen in | :04:05. | :04:08. | |
has been slowing. I think that is has been slowing. I think that is | :04:09. | :04:11. | |
because of threats in the market. Look at Instagram, they went away | :04:12. | :04:17. | |
and copied some of the biggest features of Snapchat. But they have | :04:18. | :04:23. | |
the backing of Facebook to move users across. I think there are some | :04:24. | :04:24. | |
worries there. Kevin the owners, still in their 20s, they | :04:25. | :04:36. | |
will retain complete control of the company. Given they have minimal | :04:37. | :04:42. | |
corporate experience that is a risk, isn't it? Absolutely. Mark | :04:43. | :04:48. | |
Zuckerberg created the same thing, he is still owner of the company. We | :04:49. | :04:52. | |
are looking at very young founders. The have to be questions about how | :04:53. | :04:57. | |
they can scale the company. An deal will all of the corporate questions | :04:58. | :05:04. | |
in the long term. -- and deal. Will it be a rocky ride? Or do think you | :05:05. | :05:09. | |
the optimism will continue? There is one major opportunity for it. If we | :05:10. | :05:13. | |
look at social media, a lot of people we speak to say they are | :05:14. | :05:18. | |
moving away from the larger social networks. People are looking for a | :05:19. | :05:22. | |
more intimate connection. If you look at your own Facebook feed, the | :05:23. | :05:26. | |
fact that all of your family, your parents come your grandparents, and | :05:27. | :05:29. | |
people you don't want to be in touch with our on there. There is a | :05:30. | :05:32. | |
certain value in having a smaller network. If Snapchat can tap into | :05:33. | :05:40. | |
that I think there is some value there. Does all of this talk about | :05:41. | :05:51. | |
Snapchat make you feel old? Do get in touch. | :05:52. | :05:52. | |
One of London's tallest buildings, The Leadenhall Building - | :05:53. | :05:57. | |
nicknamed the Cheesegrater - has been sold to Chinese | :05:58. | :05:59. | |
It's one of the largest UK property deals so far by a Chinese investor. | :06:00. | :06:05. | |
British Land and Oxford Properties, which both own 50% of | :06:06. | :06:07. | |
the wedge-shaped skyscraper, say contracts have been | :06:08. | :06:09. | |
exchanged with CC Land, a company run by Chinese property | :06:10. | :06:11. | |
Yahoo, which disclosed two massive data breaches last year, | :06:12. | :06:19. | |
now says about 32 million user accounts were accessed by intruders | :06:20. | :06:22. | |
in the last two years using forged cookies. | :06:23. | :06:27. | |
The Internet giant say some of the latest intrusions can be | :06:28. | :06:30. | |
connected to the people believed to be responsible for the 2014 | :06:31. | :06:33. | |
breach - which at least 500 million accounts were affected. | :06:34. | :06:35. | |
Forged cookies allow an intruder to access a user's | :06:36. | :06:37. | |
Lots of other stories on the website. Merlin is a UK-based | :06:38. | :07:10. | |
organisation that runs many, many theme parks, many of the corporate | :07:11. | :07:15. | |
stories there, as well. Have a look when you have the time. | :07:16. | :07:18. | |
Australia has announced a crackdown on visas for foreign workers | :07:19. | :07:21. | |
in the Fast Food Industry in a bid to protect jobs. | :07:22. | :07:23. | |
This is part of a trend, isn't it, saying that citizens already in the | :07:24. | :07:38. | |
country need to have access to those jobs first before immigrants? | :07:39. | :07:44. | |
Exactly. That is what the country's Immigration Minister said. It's to | :07:45. | :07:47. | |
protect Australian jobs and give them to Australians first and | :07:48. | :07:53. | |
foremost. He is talking about the 457 visas. They are given out to | :07:54. | :07:56. | |
skilled professionals. Last year most of them were given to jobs in | :07:57. | :08:01. | |
the restaurant sector, cooks for example, medical professionals also | :08:02. | :08:03. | |
come under that Visa, along with other people in the software | :08:04. | :08:07. | |
industry, programmers and software developers. It covers a broad range | :08:08. | :08:14. | |
of industries. Targeting the fast food sector. McDonald's and KFC are | :08:15. | :08:18. | |
some of the employees have employed around 500 people since 2012 on this | :08:19. | :08:23. | |
particular Visa. And he has said, you know what, they don't need to be | :08:24. | :08:26. | |
country, they could be employing country, they could be employing | :08:27. | :08:32. | |
Australians, instead. About 100,000 people were on the 457 Visa. He is | :08:33. | :08:38. | |
targeting the fast food sector. He admitted most of these jobs would | :08:39. | :08:43. | |
affect managerial staff at these companies, not the guys on the | :08:44. | :08:48. | |
ground, but it does show that Australia, along with many countries | :08:49. | :08:52. | |
around the world, are taking visual and political steps to show they are | :08:53. | :08:58. | |
looking after their people first. Interesting to see what is going on | :08:59. | :09:02. | |
happening in the US with regards to happening in the US with regards to | :09:03. | :09:07. | |
that kind of story. Let's look at Asia. Hong Kong down slightly by the | :09:08. | :09:13. | |
end of the day. But most of the day in Asia most of the markets were | :09:14. | :09:18. | |
high and rallying following that rally from Dow Jones. Quite a bit | :09:19. | :09:27. | |
above 20 1000. Japan had a good session. The yen is weak. Lots of | :09:28. | :09:32. | |
talk about that the Fed in the United States is poised to raise | :09:33. | :09:38. | |
rates this month in March. -- above 21,000. | :09:39. | :09:41. | |
Fairly flat in Europe. In Europe yesterday all of these markets | :09:42. | :09:50. | |
closed up around 2% higher, or slightly under that, so a strong day | :09:51. | :09:55. | |
for Europe. We will talk about these issues in a second. First, let's get | :09:56. | :09:59. | |
more on what we can expect on Wall Street later today. | :10:00. | :10:01. | |
It could be the biggest tech company for a while. SNAP, owners of | :10:02. | :10:16. | |
Snapchat, will start trading on Thursday. We'll see the success of | :10:17. | :10:20. | |
Facebook? Or will it look more like twitter? -- will it see. The | :10:21. | :10:31. | |
bellwether for the supermarket retailer Kroger. They are battling a | :10:32. | :10:38. | |
renewed price war from Walmart. Intense competition and deflating | :10:39. | :10:43. | |
food costs. Also reporting on Thursday, Abercrombie and Fitch. | :10:44. | :10:47. | |
and those who are shopping is not and those who are shopping is not | :10:48. | :10:53. | |
spending much of clothing and accessories, the company will likely | :10:54. | :10:54. | |
be taking a hit. -- hitting malls. Record levels reached in the | :10:55. | :11:02. | |
markets. Joining us is Alix Stewart, fixed | :11:03. | :11:06. | |
income fund manager at Schroders. What is driving the market onwards | :11:07. | :11:15. | |
and upwards? Partly global growth is picking up around the world and | :11:16. | :11:18. | |
optimism that Trump is going to roll back regulation and the spirits are | :11:19. | :11:23. | |
high. Even though he didn't actually say much in his address, there | :11:24. | :11:27. | |
wasn't much detail about this massive boost infrastructure, was it | :11:28. | :11:31. | |
more his demeanour that reassured investors? I think so. I think he is | :11:32. | :11:36. | |
being seen as the mouthpiece but he has a team behind him which are | :11:37. | :11:41. | |
quite, quite keen on delivering, making America great again. Also, we | :11:42. | :11:45. | |
were talking about this yesterday, the fact that quite a few people are | :11:46. | :11:50. | |
saying Mart is the month when they raise rates again. That has shifted. | :11:51. | :11:55. | |
Most were expecting it to be in June. In a couple of weeks' time we | :11:56. | :11:58. | |
are looking at a rate increase. Indeed. We were looking at two rises | :11:59. | :12:05. | |
for the rest of the year and only 50% chance of a march rise, and now | :12:06. | :12:10. | |
it is 80%. With our more cautious members saying they think it is time | :12:11. | :12:15. | |
to reduce accommodation. The Fed has been vocal. They are putting out the | :12:16. | :12:20. | |
signals. Yes. If they don't deliver in two weeks it'll be interesting. | :12:21. | :12:26. | |
They don't like to surprise the market. Even the more cautious are | :12:27. | :12:33. | |
saying we are going to go in March, it would be a big surprise if they | :12:34. | :12:36. | |
don't. We will have to see that key crunch meeting in a couple of weeks' | :12:37. | :12:39. | |
time. Still to come: Is property still the best | :12:40. | :12:50. | |
investment? We will find out when we speak to | :12:51. | :12:54. | |
the head of one of the biggest property shows. Let's talk some more | :12:55. | :13:00. | |
about Merlin. We mentioned earlier about Merlin. We mentioned earlier | :13:01. | :13:08. | |
that their results were out. They own many theme parks around the | :13:09. | :13:14. | |
country. It is their first set of figures since the accident of their | :13:15. | :13:15. | |
roller-coaster Smiler. The company, which also owns | :13:16. | :13:19. | |
the London Eye and Legoland, Theo Leggett has been | :13:20. | :13:21. | |
looking at the numbers. On the face of it, they look | :13:22. | :13:37. | |
positive. The Alton Towers crash eventually cost the company ?5 | :13:38. | :13:40. | |
million in a fine imposed for safety failings last year. There was a drop | :13:41. | :13:44. | |
in visitor numbers at Alton Towers in the wake of the crash but the | :13:45. | :13:46. | |
company says it is recovering, cost company says it is recovering, cost | :13:47. | :13:51. | |
savings have been made. A lot of job losses at the park are reaping | :13:52. | :13:54. | |
rewards and the park is recovering. But it is a big company owning 100 | :13:55. | :14:01. | |
visitor attractions around the world, a lot of them outside of the | :14:02. | :14:05. | |
UK. Results were better than expected but this is the share price | :14:06. | :14:10. | |
today. A lot of anticipation before results came out, now it has fallen | :14:11. | :14:15. | |
quite dramatically down 2.5% this morning. If you look at the figures | :14:16. | :14:18. | |
come as you can see why. Revenues are looking well on the surface, | :14:19. | :14:25. | |
profits -- profits up 3% but a lot of that is due to the fall in the | :14:26. | :14:29. | |
pound sterling after the referendum last year. Taking out those are | :14:30. | :14:33. | |
facts, operating profits would be done more than 6%. The company talks | :14:34. | :14:38. | |
about headwinds like the effects of international terror on business, | :14:39. | :14:42. | |
and that is why we see this response from investors this morning. | :14:43. | :14:45. | |
Although the park chain seems to be operating in a fairly robust | :14:46. | :14:48. | |
fashion, there are issues it must address. Thank you. We have some | :14:49. | :15:05. | |
company results from Jimmy Choo, men's shoes are boosting their | :15:06. | :15:10. | |
figures, after strong demand for the menswear line. We cannot give you an | :15:11. | :15:15. | |
insight on that! And another story, something breaking just after 7am | :15:16. | :15:20. | |
today. The capita Chief Executive is to step down, Andy Parker, in | :15:21. | :15:26. | |
September, they issued a profits one in. The bass is to step aside at | :15:27. | :15:30. | |
Catheter. More details on the website. | :15:31. | :15:35. | |
Today is the most anticipated tech market floatation since Twitter - | :15:36. | :15:44. | |
SNAP shares will begin trading on Wall Street later at 17 dollars | :15:45. | :15:47. | |
a share, valuing the company at 24 billion dollars. | :15:48. | :15:49. | |
That is a lot of money. A look at the markets now. Markets in Europe | :15:50. | :15:57. | |
have been mixed today, all of these markets, most of them, these three | :15:58. | :16:02. | |
that you can see, London, Paris and Frankfurt, they all had good days. | :16:03. | :16:09. | |
Today, taking a breather, looking for direction. As we've been saying, | :16:10. | :16:11. | |
certain shares on the move. And now let's get the inside | :16:12. | :16:16. | |
track on real estate... MIPIM is the biggest | :16:17. | :16:19. | |
property show in the world. It takes place every March in Cannes | :16:20. | :16:24. | |
in the south of France. What are some of the challenges - | :16:25. | :16:27. | |
or even opportunities - In the coming years, | :16:28. | :16:31. | |
more than 60% of the population Next comes efficiency of resources: | :16:32. | :16:35. | |
How will future real estate projects be able to take into account | :16:36. | :16:39. | |
the need to monitor and save resources, when energy | :16:40. | :16:42. | |
demands will grow 40% and half the world's population | :16:43. | :16:44. | |
will be living in areas Very soon, over one trillion objects | :16:45. | :16:46. | |
will be connected to the internet and all the data collected | :16:47. | :16:55. | |
from the users and the buildings will clearly modify the way real | :16:56. | :16:58. | |
estate professionals are working. Perhaps they are already changing in | :16:59. | :17:11. | |
reaction to that trend? Let's find out. | :17:12. | :17:13. | |
Filippo Rean, Head of Reed MIDEM's Real Estate Division - | :17:14. | :17:15. | |
he's also the director of the property show. | :17:16. | :17:19. | |
He joins us now. Thank you for joining us. What will the city of | :17:20. | :17:26. | |
the future look like? What are the current trends in property? Our | :17:27. | :17:30. | |
exhibitors at the show thinking much more about energy efficiency, and | :17:31. | :17:37. | |
how we will live in future? The answer is a big yes. It means these | :17:38. | :17:42. | |
themes and trends that it years ago appeared quite different from the | :17:43. | :17:48. | |
main real estate business, today they are included and considered, | :17:49. | :17:54. | |
when cities and planners and developers think about new projects | :17:55. | :17:58. | |
and new developments. Some people would say, why aren't we seeing | :17:59. | :18:06. | |
energy-efficient products put on new homes? Some would say, solar power | :18:07. | :18:12. | |
tiles on the roofs, things like that, why haven't they been in | :18:13. | :18:15. | |
force? There are economic considerations, what is important is | :18:16. | :18:21. | |
to give a new dimension to changes, the collaboration between the public | :18:22. | :18:25. | |
and private sectors. This is what we've tried to do at MIPIM, a place | :18:26. | :18:32. | |
where real estate themes and issues and opportunities, the private and | :18:33. | :18:36. | |
public sector have come together because, you are right, you might | :18:37. | :18:40. | |
have different views, more short-term views or long-term views, | :18:41. | :18:45. | |
you have two combined the two and come up with developers of the | :18:46. | :18:50. | |
future. In terms of the show itself, it is very international. You have | :18:51. | :18:58. | |
most countries represented, architects, investors, developers, | :18:59. | :19:01. | |
discussing and chatting. Depending on where you are in the world, | :19:02. | :19:04. | |
challenges and demands are very different in terms of use cities and | :19:05. | :19:08. | |
how they will change in future. But, what are the key themes discussed in | :19:09. | :19:16. | |
the industry in terms of development of the future cities? You have at | :19:17. | :19:20. | |
least two big themes which are quite common. One is the sustainability, | :19:21. | :19:27. | |
that is common and everybody is aware of that. Secondly, how to | :19:28. | :19:31. | |
include key societal changes. What is sometimes called be sharing a | :19:32. | :19:37. | |
economy. Into our cities come into our buildings. -- Schering | :19:38. | :19:40. | |
and I assume the time frame where they change, it is getting shorter? | :19:41. | :19:48. | |
There's an acceleration... Because of technology. It is something that | :19:49. | :19:53. | |
accelerates the trend and is something that will allow the | :19:54. | :19:58. | |
industry to adapt. That is why there is a new buzzword, the combination | :19:59. | :20:06. | |
of property and technology. It is beginning to be a real thing. At | :20:07. | :20:13. | |
places like MIPIM, even last year, there was still the margins and | :20:14. | :20:16. | |
today will be one of the key topics and will have a large space within | :20:17. | :20:25. | |
the exhibition area. Thank you very much for talking to us about it. | :20:26. | :20:31. | |
Good to meet you today. Very soon, we will be looking at other stories | :20:32. | :20:34. | |
being talked about today... The boss of Netflix has been talking | :20:35. | :20:49. | |
to Rory Kevin Jones. Net neutrality has taken hold around the world as | :20:50. | :20:55. | |
an assumption and belief about how the Internet should work. There are | :20:56. | :21:00. | |
many countries that do not have a law about net neutrality. But, we | :21:01. | :21:05. | |
still operate along those principles. If you could send a | :21:06. | :21:09. | |
message to Donald Trump about the principle and weight is still | :21:10. | :21:12. | |
important, what would it be? I think net neutrality very important, so | :21:13. | :21:18. | |
that no voices are censored and there is equality around. Facebook, | :21:19. | :21:24. | |
it suddenly seems very interested in doing a lot more video. That would | :21:25. | :21:28. | |
be quite a danger to you, wouldn't it? And there is YouTube Red, which | :21:29. | :21:37. | |
is a subscription service, and Amazon, and potentially Apple doing | :21:38. | :21:40. | |
some original shows. There is a lot of competition and challenge for | :21:41. | :21:45. | |
Netflix, but room to grow. His business is very challenging. It | :21:46. | :21:55. | |
is, given the competition. Earlier, we asked what she thought of | :21:56. | :21:58. | |
Snapchat, whether you love it or have no idea what it is. Snapchat | :21:59. | :22:03. | |
are hoping to disrupt social media in the way that Netflix wants to | :22:04. | :22:07. | |
disrupt television. These are the views of some people in New York | :22:08. | :22:11. | |
about Snapchat. I know what it is but I do not use it. When I see | :22:12. | :22:17. | |
something, I snap it. I have it but don't use it. I use it everyday. My | :22:18. | :22:22. | |
kids use it. I'm not the right demographic! I use it all the time, | :22:23. | :22:26. | |
it's great. I don't know what it is, don't use it! This is what you been | :22:27. | :22:34. | |
telling us, David, you are 60, and you say that you've just joined, and | :22:35. | :22:39. | |
your wife has, so you can have fun with your grandkids. | :22:40. | :22:49. | |
It's not just for youngsters. Good for you. Someone else says that they | :22:50. | :22:54. | |
tried it for a few weeks but it was pointless. Sarah says that it was | :22:55. | :22:57. | |
fun in the beginning but she does not know if it is cool any more! | :22:58. | :22:59. | |
Someone else as that they are too addicted for their own good and it | :23:00. | :23:02. | |
is taking over their lives! -- someone else says that. Let's | :23:03. | :23:04. | |
reintroduce Alec Stewart, here to talk about more stories. Marissa | :23:05. | :23:12. | |
Mayer, and Kodak. Yahoo has been sold to the rise, is that right? | :23:13. | :23:16. | |
That has gone through. One of the problems is all live the stories | :23:17. | :23:24. | |
about security breaches, numbers of accounts exposed to seems to be | :23:25. | :23:28. | |
getting bigger every day and she will pay the price? Quite rightly | :23:29. | :23:32. | |
so, data security is a massive issue. Would you have your details | :23:33. | :23:36. | |
with somebody you feel you cannot trust? Data is very valuable to | :23:37. | :23:41. | |
these companies. So you do not get a bonus. It is not just these data | :23:42. | :23:45. | |
breaches but the reactions from the executives to it. They were so slow. | :23:46. | :23:49. | |
It took so long for them to admit it. And we are still finding out. | :23:50. | :23:56. | |
She will get a cut in future bonuses, and the lawyer is stepping | :23:57. | :24:04. | |
down. Are we seeing accountability? Finally they are taking action. The | :24:05. | :24:08. | |
buck stops at the top. To say that they did not know the depth of it is | :24:09. | :24:14. | |
not good enough. Corporate governance. People have been calling | :24:15. | :24:19. | |
for it for a long time. With events like this and bridges, there is some | :24:20. | :24:23. | |
sort of call-back? Yes, it is not just the banking sector that needs | :24:24. | :24:27. | |
to be accountable. We talked about technology and new developer and is | :24:28. | :24:31. | |
on the programme today. Virtual reality is supposed to be the future | :24:32. | :24:35. | |
but interestingly, we have numbers from Google today, it is cardboard | :24:36. | :24:41. | |
virtual reality sets that have been a big hit. Probably because they are | :24:42. | :24:45. | |
cheap! A bit of a 70s throwback! LAUGHTER | :24:46. | :24:50. | |
I would imagine it is the money more than the 70s throwback! What do you | :24:51. | :24:54. | |
think about virtual reality, have you had a go? Not yet, no. It is a | :24:55. | :25:03. | |
big trend. These cardboard ones, they want people talking about these | :25:04. | :25:06. | |
things and so people talk about and by the new expensive ones. Clip onto | :25:07. | :25:15. | |
a mobile phone, you can see a 360 degrees view of your photos. They | :25:16. | :25:19. | |
are hoping it would be a gateway to the more expensive motion sensor | :25:20. | :25:23. | |
virtual reality headset? Yes, I think it is so people have a taste | :25:24. | :25:28. | |
for it and have that full on experience. They have been really | :25:29. | :25:32. | |
successful. It would be interesting to see if we have virtual reality in | :25:33. | :25:36. | |
the cities of the future, as we spoke earlier about with the | :25:37. | :25:42. | |
property show in Cannes, thank you for coming in. | :25:43. | :25:49. | |
And thank you for your company. We are back tomorrow, so we will see | :25:50. | :25:52. | |
you then. More business news throughout the | :25:53. | :25:56. | |
day on the BBC Live web page. Goodbye. | :25:57. | :26:00. |