:00:07. > :00:09.This is Business Live from BBC News with Rachel Horne and Sally Bundock.
:00:10. > :00:13.Va va voom - the press are at the Geneva Motor Show taking
:00:14. > :00:15.in the latest models, but despite record sales
:00:16. > :00:37.Live from London, that's our top story on Tuesday 7th March.
:00:38. > :00:39.Stuck in first gear - we'll look at the problems facing
:00:40. > :00:41.the European car industry ahead of the continent's
:00:42. > :00:48.Also in the programme - snap, crackle and flop.
:00:49. > :00:50.Shares in the company behind Snapchat fall 12%
:00:51. > :01:01.following their sparkling debut on the New York Stock Exchange.
:01:02. > :01:09.Let's see how the European markets have opened, not a lot of movement,
:01:10. > :01:11.slightly up, slightly down, investors holding fire. We will find
:01:12. > :01:13.out why later in the programme. Will the music stop playing
:01:14. > :01:16.for the DJ who founded his own Later in the programme we'll speak
:01:17. > :01:19.to the young entrepreneur hoping to connect students on campus.
:01:20. > :01:32.Today we want to know... -- and Netflix are reported to be
:01:33. > :01:36.working on choose your own adventure TV programmes, with actors filming
:01:37. > :01:43.alternative endings, so let us know, what ending with July to change? --
:01:44. > :01:44.what ending would you like to change?
:01:45. > :01:51.European car-makers are gathered in Geneva for the annual motor show,
:01:52. > :01:56.and they are celebrating record-breaking sales figures.
:01:57. > :01:59.More than 15 million cars were sold in Europe last year -
:02:00. > :02:02.that's the best result since the financial crisis.
:02:03. > :02:04.But a sneaky peak under the bonnet of the continent's auto-makers
:02:05. > :02:10.Yesterday, General Motors sold its European businesses
:02:11. > :02:13.to the PSA Group - that's the company which owns
:02:14. > :02:17.The deal highlights the gulf in profitability either
:02:18. > :02:19.side of the Atlantic, and it's a problem that persists
:02:20. > :02:29.In 2016, Ford announced a profit margin of 9.7% in North America.
:02:30. > :02:32.This compares to just 4.2% in Europe.
:02:33. > :02:34.It's a similar story for Fiat-Chrysler, which has
:02:35. > :02:40.profit margins of 7.4% and 2.5% respectively.
:02:41. > :02:45.Cars are an important export for many of Europe's biggest economies.
:02:46. > :02:48.Given that national elections are due to take place in France
:02:49. > :02:51.and Germany later this year, European governments will be keen
:02:52. > :03:01.to keep their domestic car industries ticking over.
:03:02. > :03:05.With me is BBC business correspondent Theo Leggett.
:03:06. > :03:13.We have dragged him out of the newsroom! Good morning. Rachel
:03:14. > :03:18.outlined the width in the profit margin that there is between North
:03:19. > :03:22.American business and European business, why? It is very easy to
:03:23. > :03:26.cut back over capacity and reduce costs if you are on the verge of
:03:27. > :03:30.bankruptcy or have gone bankrupt, that is what happened to the North
:03:31. > :03:35.American car industry during the financial crisis. General Motors and
:03:36. > :03:39.Chrysler both filed for bankruptcy, they restructured, had talks with
:03:40. > :03:43.the unions, changed pension arrangements, massively cut costs.
:03:44. > :03:51.That did not happen in Europe, we had a subsidy of the car industry
:03:52. > :03:53.with scrappage schemes and so one, so in Europe there is still too much
:03:54. > :03:56.capacity, too many factories capable of making too many cars and not
:03:57. > :04:01.running efficiently, even with the level of sales at the moment.
:04:02. > :04:06.General Motors sold its European business to PSA, that was the
:04:07. > :04:09.headline yesterday, but given the disparity in profits between Europe
:04:10. > :04:13.and America, how will they square the circle? They will want to cut
:04:14. > :04:18.costs and drive up the profit margins in Europe. The gob most
:04:19. > :04:23.analysts predict that PSA group will have to cut some of its factories in
:04:24. > :04:27.a few years. PSA chief executive has almost set out a beauty parade for
:04:28. > :04:33.existing factories, which will be ranked according to efficiency. Once
:04:34. > :04:37.existing agreements expire, we can expect cutbacks. The problem with
:04:38. > :04:42.cutting back capacity in Europe is that it is deeply, deeply political.
:04:43. > :04:47.Governments have stakes in car companies, the French and has a 13%
:04:48. > :04:50.stake in PSA group, the German government has a stake in
:04:51. > :04:55.Volkswagen, at least the state of lower Saxony does. Any attempt to
:04:56. > :05:01.close a factory kicks up a political storm, that the problem.
:05:02. > :05:06.What will be the gossip from Geneva? Geneva is a wonderful car show, car
:05:07. > :05:10.makers come out with real exotica. I have seen a wonderful one this
:05:11. > :05:19.morning, I am much how to pronounce it but it is produced by a
:05:20. > :05:23.Singaporean company called Vander Electrics, developed in conjunction
:05:24. > :05:27.with the Williams Formula 1 team. It is electric car, I have no idea if
:05:28. > :05:34.it will work as it is meant to. Will you treat a picture for the viewers?
:05:35. > :05:37.Yes. And Volkswagen has come up with a mobility concept, their idea of a
:05:38. > :05:41.self driving car designed from the ground up. It looks like one of
:05:42. > :05:48.those buggies you would travel around an airport in and the name
:05:49. > :05:58.they have given it, self driving concept, they have called it Sedric.
:05:59. > :06:06.We will check out your Twitter, for people who want to know what they
:06:07. > :06:08.look like, his Twitter handle is @theothebald.
:06:09. > :06:10.Airline passengers are suffering huge disruption due to the latest
:06:11. > :06:12.five day strike by French air traffic controllers.
:06:13. > :06:15.There is also a separate call to strike on Tuesday
:06:16. > :06:18.More than 1,000 flights are expected to be cancelled this week
:06:19. > :06:21.as carriers have been asked to slash their services by 25%.
:06:22. > :06:24.Shares in Snap - the company that owns the popular messaging app
:06:25. > :06:26.Snapchat - closed more than 12% lower overnight,
:06:27. > :06:31.falling below the opening price from its first day of trading.
:06:32. > :06:34.It's the first time its stock has dropped since the company listed
:06:35. > :06:37.The fall follows advice from several analyst who've suggested investors
:06:38. > :06:52.should sell amid strong competition from Facebook and Twitter.
:06:53. > :06:57.A diplomatic row between China and South Korea have this that McGrath
:06:58. > :06:59.has spilled onto the high street. Chinese authorities have closed
:07:00. > :07:01.nearly two dozen retail stores of South Korea's Lotte Group
:07:02. > :07:12.following inspections. It will hit the bottom line of one
:07:13. > :07:18.of the largest companies in South Korea, the food and retail giant
:07:19. > :07:23.Lotte, Korea 's fifth largest firm, it gets around 20% of its sales from
:07:24. > :07:27.China but in the past week several of the businesses have faced a
:07:28. > :07:31.backlash from hackers, customers, Chinese partners. Ten of its
:07:32. > :07:35.department stores in China have closed and suddenly due to something
:07:36. > :07:39.that seems completely unrelated on the surface, the building of an
:07:40. > :07:44.American missile defence system, because Lotte had agreed to provide
:07:45. > :07:49.so that South Korean land, which includes part of a golf course, to
:07:50. > :07:52.allow the Americans to build a controversial missile defence system
:07:53. > :07:55.which can shoot down ballistic missiles. The US says it is an
:07:56. > :07:59.important line of defence against the North Korean missile development
:08:00. > :08:03.programme, Beijing has lobbied heavily against it saying that the
:08:04. > :08:06.powerful radars of the system are capable of monitoring Chinese
:08:07. > :08:11.territory and it should not be allowed to go ahead. The Chinese, it
:08:12. > :08:17.seems, are hitting back. There have been protests against Lotte, a
:08:18. > :08:21.Chinese e-commerce site has temporarily closed the Lotte
:08:22. > :08:27.shopping site, a Chinese snack maker says it will pull its products from
:08:28. > :08:32.Lotte stores. It is the biggest duty free company in the world which
:08:33. > :08:35.makes about 70% of its sales to Chinese customers, it said its
:08:36. > :08:40.website was taken offline by a cyber attack. It is up and running again.
:08:41. > :08:44.Chinese cosmetics retailer said it had scrubbed the name of Lotte from
:08:45. > :08:49.its retailer, saying they would rather die than Kerry 's goods again
:08:50. > :08:55.in the future. Lotte has said directly that any of these incidents
:08:56. > :08:59.were linked to the missile project controversy. Thank you.
:09:00. > :09:03.Well, the Dow Jones was down yesterday.
:09:04. > :09:12.Then OK and the Hang Seng, not a lot of movement. Investors are concerned
:09:13. > :09:17.about the lack of detail in President Trump's plans. -- the
:09:18. > :09:21.Nikkei and the Hang Seng, not a lot of movement. We expect the interest
:09:22. > :09:25.rate decision from the Fed next week, most expected to rise but
:09:26. > :09:27.there is not a lot moving the market at the moment. In Europe, very small
:09:28. > :09:36.movements. Let's go to Wall Street, with
:09:37. > :09:40.similar and Hussein. On Tuesday the latest trade figures the January
:09:41. > :09:47.will be released. It will show that the US trade deficit got better, to
:09:48. > :09:55.$48.5 billion, up from $44.3 billion back in December. Trade was a big
:09:56. > :09:58.part of Tres -- President Trump's election campaign, and these latest
:09:59. > :10:03.figures will be looked at very closely by his economic team. Also
:10:04. > :10:10.on Tuesday, the US Federal Reserve is expected to report consumer
:10:11. > :10:13.credit figures for the month of January. Consumer credit is debt
:10:14. > :10:19.taken on by individuals who intend to spend the money right away, so
:10:20. > :10:25.things like credit cards or car loans. Consumer credit figures are
:10:26. > :10:33.expected to have gone up to 17 point $10 billion, up from $14.16 billion
:10:34. > :10:37.in December. Lots of economic data is coming out of the States. Let's
:10:38. > :10:37.bear that in mind with the Fed meeting next week.
:10:38. > :10:41.Joining us is Kathleen Brook, research director for City Index.
:10:42. > :10:50.Nice to see you. Shares fell quite a bit for Snap, it is often volatile
:10:51. > :10:54.when a brand-new company lists on the market which does not make
:10:55. > :11:00.profits etc. But what is behind the fact that some indexers apparently
:11:01. > :11:05.are blocking Snap from being included, put that in perspective
:11:06. > :11:09.for us? They may block Snap because these big money managers that had to
:11:10. > :11:14.buy every stock in an index do not like what Snap is doing, these are
:11:15. > :11:20.tracker funds. Snap is saying that we want to list on these indices but
:11:21. > :11:23.not give you any voting rights, so people will have to buy a large
:11:24. > :11:29.amount of Snap and they do not want to not have a say. Snap wants to be
:11:30. > :11:33.found a lead Company, the founder makes the decisions, get the acid
:11:34. > :11:38.managers are saying if we have put a lot of money into the company, we
:11:39. > :11:42.want to say -- yet the asset managers are saying. What we saw
:11:43. > :11:47.with Google, Facebook and Alphabet, they have non-voting rights shares,
:11:48. > :11:52.but they give those to company members or employees of the company,
:11:53. > :11:58.they have caved and they do allow voting rights shares for these acid
:11:59. > :12:02.managers. They have found a bit of middle ground. They are included on
:12:03. > :12:06.the index, which is a very key thing and that is why a lot of analysts
:12:07. > :12:10.are saying don't buy this show, it is not good for your future
:12:11. > :12:15.prospects. We are told we had to leave it there, we will come back to
:12:16. > :12:16.you. We have other stories to discuss in the papers, lots of
:12:17. > :12:17.interesting stories. Still to come, will the music stop
:12:18. > :12:21.playing for the DJ who founded his Later in the programme we'll speak
:12:22. > :12:25.to the young entrepreneur hoping You're with Business
:12:26. > :12:41.Live from BBC News. First, let's talk about the other
:12:42. > :12:42.obsession in the UK, apart from the weather. House prices.
:12:43. > :12:45.The latest House Price Index has just been published by Halifax.
:12:46. > :12:48.It's shows that house prices rose 5.1% year on year in the three
:12:49. > :12:53.Martin Ellis is a Housing Economist at Halifax and he joins us now.
:12:54. > :13:02.Thank you for coming in. A rise of 5.1%, is this what you expected? We
:13:03. > :13:07.are seeing a steady slowdown in the rate of house price increase. That
:13:08. > :13:13.5.1% is actually about half where it was back in March last year. We have
:13:14. > :13:18.seen quite a rapid slowdown over that period, but still quite a
:13:19. > :13:22.robust pace of growth. We are still seeing house prices continuing to
:13:23. > :13:27.rise, that increases still quite comfortably ahead of the rate at
:13:28. > :13:32.which people's earnings increase on average, which is leading to
:13:33. > :13:38.increasing affordability problems, putting prices further out of reach
:13:39. > :13:43.for more and more people, which is causing a slowdown as it is putting
:13:44. > :13:48.a constraint on housing demand. It is pretty much in line with what we
:13:49. > :13:54.expect, we expect a trend to happen and we expect that to continue
:13:55. > :13:58.during 2017. Can you give a sense of how it looks across the country,
:13:59. > :14:02.where the hotspots are and where you are seeing this slowdown? These
:14:03. > :14:08.figures do not give a regional breakdown, what is happening is the
:14:09. > :14:12.slowdown is being driven by house prices decelerating, mainly in
:14:13. > :14:16.London and the south-east. We have had a long period of very rapid
:14:17. > :14:22.house price rises in the capital and we have seen that slowing down over
:14:23. > :14:27.the last year to 18 months. That factor is really because of house
:14:28. > :14:32.prices being so very high in relation to earnings and we are now
:14:33. > :14:37.seeing mortgage payments taking up quite a sizeable chunk of peoples
:14:38. > :14:40.income, it is the only part of the country where that proportion of
:14:41. > :14:44.mortgage payments in relation to income is above the long-term
:14:45. > :14:50.average, I think it is natural we should see that slowing in London
:14:51. > :14:53.and the south-east. Lots of the of the country is seeing modest rises.
:14:54. > :15:05.Thank you very much. Just Eat profits have jumped. The
:15:06. > :15:06.online take-away food delivery service is also seeing its shares
:15:07. > :15:10.rise today as well. Now let's get the inside track
:15:11. > :15:16.on the latest startups Our next guest is a former music
:15:17. > :15:19.producer turned entrepreneur. Rashid Ajami travelled from his
:15:20. > :15:22.hometown of London to the US to study at Georgetown University,
:15:23. > :15:25.but found it was difficult to His frustrations led to the creation
:15:26. > :15:28.of a web-based platform called Campus Society,
:15:29. > :15:30.which allows students to connect, Campus Society officially launched
:15:31. > :15:38.in the UK in July 2016 and already has more than 250,000 registered
:15:39. > :15:44.users on the platform. Ajami is now planning
:15:45. > :15:46.a global expansion - first moving into areas including
:15:47. > :15:49.Europe, India, Australia and China this year,
:15:50. > :15:55.followed by the US in early 2018. Rashid Ajami, founder
:15:56. > :15:57.and Chief Executive Officer of Campus Society, a digital
:15:58. > :16:06.platform for the global A warm welcome. Thank you for having
:16:07. > :16:09.me. It is a very new company. Yes. At the moment really just based in
:16:10. > :16:17.the UK. But I must admit when I read about it and I learned about you, I
:16:18. > :16:24.thought this is just what mark Zuckerberg was doing? It is about
:16:25. > :16:30.knowledge sharing and creating a global student community. If I'm
:16:31. > :16:34.studying anthropology in the UK and I'm interested in African culture, I
:16:35. > :16:38.could reach out to someone in Africa and have a real-time interaction. It
:16:39. > :16:42.is about bringing students together around topics they're passionate
:16:43. > :16:45.about. Before you launched Camp Society, you were a DJ. What have
:16:46. > :16:49.you taken from your time working as a DJ and working in the music
:16:50. > :16:53.industry which has helped you with the launch of this start-up?
:16:54. > :16:56.Building relationships is very important, having passion, marketing
:16:57. > :17:00.branding has been helpful for me from the music. But I really felt
:17:01. > :17:03.that this concept of building a student community was very important
:17:04. > :17:06.so I put that aside because I really like to focus on this. Now you are
:17:07. > :17:11.focussed on it. It is your full-time job. There is seven of you working
:17:12. > :17:16.on this full-time? We're 30 people. Sorry, 30. You're making money. How
:17:17. > :17:22.are you going to money advertise this idea? We want to share and chat
:17:23. > :17:27.and be connected to people who are like-minded and who are students,
:17:28. > :17:33.but how are you going to make money? First employers can connect and find
:17:34. > :17:36.students to do virtual job interviews on the platform. Brands
:17:37. > :17:41.can have a real-time interaction with students. It is more genuine
:17:42. > :17:44.and universities who are looking for prospective students we can start
:17:45. > :17:47.making that connection. Money advertisation is something we have a
:17:48. > :17:54.lot of great ways to do it, but it is about helping the students. Has
:17:55. > :17:57.anyone got hold of you, and spoken to organisations, it is just
:17:58. > :18:01.students, it is an audience that companies are keen to talk to, isn't
:18:02. > :18:06.it? Definitely. For us the main focus is growth. We want to become
:18:07. > :18:10.the largest student community and bring all the world's students into
:18:11. > :18:13.one place. Right now, it is about creating these communities and
:18:14. > :18:18.bringing all these students together and that's where we're focussed.
:18:19. > :18:22.Talking about money advertisation, you have an idea to introduce an
:18:23. > :18:26.online currency specific to Campus. How would that work? The more you
:18:27. > :18:30.contribute to this pool of knowledge, you gain this currency
:18:31. > :18:34.online and we want to start to bring that into the real university world.
:18:35. > :18:38.You can use it in your union and use it on campus. It is about giving
:18:39. > :18:42.students this interesting currency based on how much they contribute.
:18:43. > :18:46.So they would have to contribute and it would have to be valid
:18:47. > :18:50.contributions and policed in some way to make sure that people weren't
:18:51. > :18:53.just uploading stuff to go and feed themselves at the union? It is
:18:54. > :18:57.important to have a very strong moderation. We have a strong
:18:58. > :19:01.community team. We use artificial intelligence and we give the tools
:19:02. > :19:04.to the community. So they can really moderate the different communities
:19:05. > :19:07.that are happening. How will you get the organisations on board where the
:19:08. > :19:11.students will spend this virtual money? So we feel because, you know,
:19:12. > :19:15.sharing knowledge is so universal, it is integral to university, that
:19:16. > :19:20.the universities will get behind what we're doing. So you're hoping
:19:21. > :19:28.they will provide services really for nothing to students? Not a
:19:29. > :19:31.Bitcoin but a campus coin? We want to get the universities to be part
:19:32. > :19:34.of this and take care of the local experience. But they need to get
:19:35. > :19:38.something in return? For us it is about bringing their students
:19:39. > :19:41.together. It is on the local level bringing all the students to one
:19:42. > :19:43.place, but as well as the global level and universities want to
:19:44. > :19:47.connect with other universities. So we want to break down that barrier
:19:48. > :19:50.and awe low all universities across the world to have these discussions,
:19:51. > :19:54.these debates which aren't happening as much as I'd like to see
:19:55. > :19:57.currently. Where do you the company in a year and in five years? What's
:19:58. > :20:01.your vision? It is about getting, I'd like to see a few million users.
:20:02. > :20:05.Really being this large community for students, moving into this
:20:06. > :20:09.virtual currency and maybe virtual reality and being at the fore front
:20:10. > :20:11.of knowledge sharing. In the meantime, until you are able to
:20:12. > :20:15.money advertise it and make profits etcetera, you are relying on
:20:16. > :20:21.investors, aren't you to pay your wages and the other 29? Yes. We have
:20:22. > :20:25.great investors at the moment. They are really behind this concept. They
:20:26. > :20:27.see the potential for money advertisation, but they see the
:20:28. > :20:30.potential to change the way that knowledge sharing happens. All
:20:31. > :20:33.right. We've got to leave it there. Thank you for coming in. We will
:20:34. > :20:37.keep an eye on the Campus Society. The biggest names in the car
:20:38. > :20:39.industry are in Switzerland Our Business Editor Simon Jack sat
:20:40. > :20:43.down with Ford's President for Europe and asked him
:20:44. > :20:46.what effect Brexit will Brexit already we can see the weaker
:20:47. > :20:52.currency has a big impact on a company like Ford,
:20:53. > :20:59.but we're optimistic that the EU and the UK Government can find
:21:00. > :21:01.common ground so our critical industry that has so many
:21:02. > :21:04.jobs to save, that there won't be a tear for any kind
:21:05. > :21:06.of restriction on trade. We are a huge employer and a lot
:21:07. > :21:11.of those employees are engineering jobs for global products
:21:12. > :21:13.like transit and it is critical for the future of those jobs that we
:21:14. > :21:32.are in a zero tariff environment. That's from Ford, the President of
:21:33. > :21:39.Europe who was talking to Simon Jack.
:21:40. > :21:44.We will be talking to the boss of PSA Group which announced yesterday
:21:45. > :21:47.with General Motors it is buying General Motors European business.
:21:48. > :21:57.That interview will be later on the BBC.
:21:58. > :22:02.Kathleen Brooks joins us again to discuss.
:22:03. > :22:11.Netflix have this idea of choose your own adventure where you can
:22:12. > :22:17.decide where the plot goes next. Do you remember reading those choose
:22:18. > :22:27.your own adventure books? Yes. Do you drink from the position bottle
:22:28. > :22:31.go to page four. I never did that. I think it is a really interesting
:22:32. > :22:34.dynamic, with Netflix you have had a really busy week. It's a Friday
:22:35. > :22:38.night. I want them to make the decisions for them. I'm not sure how
:22:39. > :22:42.many decisions I want to make. I would have a big row with my husband
:22:43. > :22:47.because he would want one ending and I'd want the other ending. It would
:22:48. > :22:51.just cause domestic arguments. If they make several endings you may
:22:52. > :22:57.never get to the end of a show. It is hard enough to get to the end of
:22:58. > :23:09.some of these shows. A box-set of endings. We have had good tweets.
:23:10. > :23:14.Rosie said The Wizard Of Oz Is is one of the most disappointing
:23:15. > :23:28.endings. Another viewer says, "I'm Spartacus." I can't remember how the
:23:29. > :23:32.Wizard Of Oz Ended. Let's talk about the new factory, Nordic battery
:23:33. > :23:37.plant. $4 billion worth. It sounds similar to what Tesla is up to? It
:23:38. > :23:42.is set-up by former Tesla executives. They are looking at
:23:43. > :23:46.opening the first European battery making plant in Scandinavia. That's
:23:47. > :23:49.where they mine a lot of the minerals that need to go into the
:23:50. > :23:53.batteries. I was shocked this is the first time that somewhere in Europe
:23:54. > :23:57.has started buying or making these batteries and then added to that,
:23:58. > :24:01.the fact that you know it is for Tesla or it will be for Teslament it
:24:02. > :24:05.is not any of the European companies who are using the batteries and
:24:06. > :24:08.really with pollution concerns etcetera, etcetera, should more
:24:09. > :24:15.European car companies be thinking about electric? I think they should
:24:16. > :24:18.do. We have been talking about hedge funds stockpiling cobalt which is
:24:19. > :24:22.the mineral or material used in the batteries and it is saying here
:24:23. > :24:26.there is a Finnish mine producing cobalt, one of the reasons why
:24:27. > :24:30.they're looking at these countries, but whether those stockpiles of
:24:31. > :24:34.cobalt could affect the industry? It pushes the prices up and it makes
:24:35. > :24:39.them less attractive. Can we linger for a moment on this story that's in
:24:40. > :24:44.the UK Just Eat profits? We have this rare luxury, we have time!
:24:45. > :24:50.Let's talk about the online take away food delivery app. Pre-tax
:24:51. > :24:54.profits 164% up for last year to ?91 million. It is doing extremely well.
:24:55. > :24:59.It is going to expand globally. It is saying the market in the UK is
:25:00. > :25:01.quite busy. There is many markets outside of Europe where there is not
:25:02. > :25:06.much competition and they're going for it. It is one to watch, isn't
:25:07. > :25:10.it? Fantastic performance. The CEO is leaving because of urgent family
:25:11. > :25:16.matters, but he is leaving on a high. The outlook looks fantastic.
:25:17. > :25:21.They have had 150% profit this year and looking for an extra 50% profit
:25:22. > :25:28.next year. They just deliver whatever you want, don't they? You
:25:29. > :25:32.have an app. You order your food from thousands of outlets. You
:25:33. > :25:36.choose which outlet? They get it delivered fou and you pay through
:25:37. > :25:48.their open tab I believe is the app. There is a couple of challengers
:25:49. > :25:51.like Hungry House. They want to acquire Hungry House. The CEO is on
:25:52. > :25:58.the move. It will be interesting to see who takes over in terms of what
:25:59. > :26:00.the outlook is. It is a revolution. Do they deliver breakfast? That's
:26:01. > :26:05.what I want to know!