Browse content similar to 16/03/2017. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
This is Business Live from BBC News with Ben Thompson and Sally Bundock. | :00:00. | :00:00. | |
Prime Minister Mark Rutte hails his election win which keeps | :00:00. | :00:09. | |
far right Geert Wilders out of power. | :00:10. | :00:13. | |
Live from London, that's our top story on Thursday the 16th of March. | :00:14. | :00:32. | |
The Dutch result brings relief to financial markets and the future | :00:33. | :00:37. | |
of the European single currency but questions over who will lead | :00:38. | :00:41. | |
Also in the programme: The magic of Musk. | :00:42. | :00:47. | |
Tesla's boss asks Wall Street for more money for his | :00:48. | :00:51. | |
electric cars but how long until the demand | :00:52. | :00:56. | |
Markets in Europe are headed strongly higher. They are reacting | :00:57. | :01:08. | |
to the result in the Netherlands, but also what the Federal reserve | :01:09. | :01:10. | |
did the night before. Behind the glitz and glamour | :01:11. | :01:16. | |
of Hollywood is all the hardwork We'll speak to the man who makes | :01:17. | :01:20. | |
sure you can hear and understand award winning movies and shows such | :01:21. | :01:25. | |
as Moonlight, Narcos And also today, a San Francisco | :01:26. | :01:27. | |
startup has started selling fried chicken strips made entirely | :01:28. | :01:31. | |
in the lab. Let us know, would | :01:32. | :01:34. | |
you eat man-made meat? Is that new idea just a turkey? Get | :01:35. | :01:58. | |
We start with the elections in the Netherlands where, | :01:59. | :02:02. | |
as you have been hearing, Prime Minister Mark Rutte | :02:03. | :02:04. | |
and his Liberal party have seen off a challenge from the far-right | :02:05. | :02:07. | |
He had pledged to take the Netherlands out | :02:08. | :02:11. | |
of the European Union and ditch the Euro. | :02:12. | :02:15. | |
The Euro has soared on the news - it jumped as much as 1.3%, | :02:16. | :02:24. | |
It's been having a tough time of course since | :02:25. | :02:30. | |
But this is the reaction immediately after the polls began to emerge. | :02:31. | :02:38. | |
You can see the spike in the Euro here. | :02:39. | :02:46. | |
Huge relief that the political risk facing the single currency | :02:47. | :02:49. | |
and the EU itself has dissipated a little. | :02:50. | :02:56. | |
France holds presidential elections next month | :02:57. | :03:03. | |
and Germany holds parliamentary elections in September. | :03:04. | :03:06. | |
Both are expected to see strong challenges by anti-EU parties. | :03:07. | :03:12. | |
Peter Thal Larsen is Global economics editor | :03:13. | :03:14. | |
Nice to see you. Let's start with that. Let's look at what this tells | :03:15. | :03:27. | |
us. There was an expectation there would be a surge in that populist | :03:28. | :03:31. | |
vote. It happened, but it did not happen enough to change the outcome. | :03:32. | :03:37. | |
How significant is it given that this is one of three that we are | :03:38. | :03:42. | |
watching closely? The Dutch situation is slightly different. | :03:43. | :03:48. | |
There were inevitable comparisons with President Donald Trump and | :03:49. | :03:54. | |
Brexit in the UK. But Geert Wilders, the populist candidate, has been | :03:55. | :03:57. | |
around for sometime and he has been in Parliament for 18 years and this | :03:58. | :04:02. | |
was fourth election where he was leading his own party. There was | :04:03. | :04:06. | |
always a question about whether he could get a significant increase and | :04:07. | :04:10. | |
become the largest party. Even though he gained seats, he did worse | :04:11. | :04:15. | |
than he did in 2010 when he got 50% of the vote. Even though the | :04:16. | :04:19. | |
governing coalition lost a lot of votes, they went to lots of | :04:20. | :04:24. | |
different parties. Not enough to create a government, so now we are | :04:25. | :04:29. | |
talking about a coalition, lots of horse trading will inevitably go on | :04:30. | :04:33. | |
and it means it might be difficult to get things done, so we have got | :04:34. | :04:39. | |
more uncertainty. There is a certain amount of relief that Geert Wilders | :04:40. | :04:42. | |
was not able to increase his position. If he had got the largest | :04:43. | :04:47. | |
party, he would have been in a position to try and form a | :04:48. | :04:50. | |
government, which would have been difficult and it would have created | :04:51. | :04:55. | |
a difficult situation. Now the Prime Minister is being hailed as a great | :04:56. | :05:02. | |
victor, Mark Rutte. He is the clear number one and gets to try and form | :05:03. | :05:06. | |
another government, but he will need at least three other parties to go | :05:07. | :05:10. | |
into coalition with him and the Dutch have not had a four party | :05:11. | :05:15. | |
coalition since the 1970s. Once it is formed it could become quite | :05:16. | :05:20. | |
unstable. We are looking about pictures from the Hague and it is | :05:21. | :05:24. | |
interesting talking about the calm before the storm. Let's talk about | :05:25. | :05:29. | |
what it means for the wider European project. There was an expectation | :05:30. | :05:33. | |
that this rise in populism could change things. It could raise | :05:34. | :05:38. | |
questions for the president of the euro group. He is the Finance | :05:39. | :05:42. | |
Minister in Holland. Does that cast doubt over his future? Most | :05:43. | :05:51. | |
definitely yes. He is also president of Holland and the leader of the | :05:52. | :05:54. | |
euro group, but his party got walloped in the election from 39 C | :05:55. | :05:59. | |
is down to nine or something like that. It seems unlikely they will be | :06:00. | :06:04. | |
in the new government and even if that party is in the new government, | :06:05. | :06:08. | |
he will be such a junior party that it will be very unlikely that he | :06:09. | :06:16. | |
will stay on. In that situation the euro group would be to look for a | :06:17. | :06:21. | |
new president. This is one of three, so France and Germany next. What | :06:22. | :06:27. | |
should we watch out for? The lesson from this election is that all these | :06:28. | :06:31. | |
political situations are very difficult and you cannot read across | :06:32. | :06:36. | |
from Brexit to Donald Trump and Marine Le Pen. The populist surge | :06:37. | :06:40. | |
has not really happen. It is questionable whether it was ever | :06:41. | :06:44. | |
really going to happen to the extent it might in the Netherlands. Marine | :06:45. | :06:48. | |
Le Pen is similar because she has been around for a long time, but the | :06:49. | :06:55. | |
situation is very difficult. I am quarter Dutch and the Dutch might do | :06:56. | :07:00. | |
it in a calm, understated way. Let the Brits do everything else! | :07:01. | :07:01. | |
Investors have been on central bank alert his week, | :07:02. | :07:10. | |
Investors have been on central bank alert this week, | :07:11. | :07:12. | |
after the US Federal Reserve raised its benchmark interest rate | :07:13. | :07:15. | |
In Tokyo, the Bank of Japan held steady on rates while in China, | :07:16. | :07:19. | |
the central bank raised short-term interest rates to keep | :07:20. | :07:22. | |
Today the Bank of England is meeting. | :07:23. | :07:30. | |
A federal judge in Hawaii has blocked President Donald Trump's | :07:31. | :07:33. | |
new travel ban hours before it was due to begin. | :07:34. | :07:35. | |
The judge cited Mr Trump's own words to rule the order was still intended | :07:36. | :07:39. | |
to discriminate against Muslims and was therefore unconstitutional. | :07:40. | :07:42. | |
It would have placed a 90-day ban on people from six mainly Muslim | :07:43. | :07:45. | |
nations and a 120-day ban on refugees entering | :07:46. | :07:49. | |
President Trump has vowed to appeal. | :07:50. | :07:56. | |
German airline Lufthansa has reported a 3.6% fall in profits | :07:57. | :07:59. | |
But the airline, which is one of the biggest in the world, | :08:00. | :08:11. | |
said that if it hadn't been for the cost of strikes it's profits | :08:12. | :08:14. | |
would have been in line with the previous year. | :08:15. | :08:16. | |
On Wednesday they agreed a pay and conditions deal with pilots | :08:17. | :08:19. | |
which will end years of strikes that have cost the airline hundreds | :08:20. | :08:22. | |
South Korea's wide-ranging bribery and corruption investigation has led | :08:23. | :08:33. | |
prosecutors to questions officials at the country's third | :08:34. | :08:36. | |
SK Group is now caught up in the scandal which has seen | :08:37. | :08:41. | |
criminal charges against Samsung's boss and the country's President | :08:42. | :08:44. | |
He has been tracking all these developments. This is getting wider? | :08:45. | :09:02. | |
It is. The investigators were asking questions, they were not accusing. | :09:03. | :09:08. | |
But the country's third biggest company, everything from telecoms to | :09:09. | :09:12. | |
petrochemicals, it is a huge company. The central question of | :09:13. | :09:18. | |
investigation seems to be whether as Kate gave just short of $10 million | :09:19. | :09:24. | |
to the friend of the President round about July 2015. Shortly afterwards | :09:25. | :09:32. | |
the chairman of S K was freed from prison, was pardoned by the | :09:33. | :09:36. | |
president. The chairman was imprisoned for a previous corruption | :09:37. | :09:49. | |
prosecution. So the allegation is did SK pay money to the friend of | :09:50. | :09:53. | |
the president to get him out of prison. That is what they are | :09:54. | :09:58. | |
looking at. Thank you, see you again soon. We have mentioned the central | :09:59. | :10:03. | |
bank meetings and the bank of Japan and China as well and that affected | :10:04. | :10:10. | |
the Hang Seng. Just to say Asia was really rallying off the back of a | :10:11. | :10:14. | |
strong close the night before on Wall Street. That is because the US | :10:15. | :10:21. | |
central bank did exactly what we expected, raise rates by 0.25%. A | :10:22. | :10:26. | |
strong rally in Europe following on from Wall Street and Asia. There are | :10:27. | :10:32. | |
specific winners. Anglo-American shares up 10%. Reports an Indian | :10:33. | :10:39. | |
businessman is looking to get a ?2 billion worth of state in | :10:40. | :10:44. | |
Anglo-American. That is an interesting story. Reaction to what | :10:45. | :10:48. | |
is going on in the Netherlands. Let's have a look at what is going | :10:49. | :10:56. | |
on in the United States. President Trump will release his first budget | :10:57. | :11:01. | |
on Thursday. Early drafts were for dramatic cuts at some agencies, | :11:02. | :11:05. | |
including the environmental protection agency and | :11:06. | :11:07. | |
across-the-board cuts to other agencies as the administration seeks | :11:08. | :11:14. | |
to beef up military spending. This budget will cut of months of debate | :11:15. | :11:24. | |
on government spending. Adobe has shifted to a more cloud computing | :11:25. | :11:28. | |
business and investors believe their earnings will reflect that switch. | :11:29. | :11:31. | |
Some of their offerings include photo shop, Illustrator. There are | :11:32. | :11:45. | |
slower sales growth as a result of reductions in food stop products | :11:46. | :11:49. | |
have made demands for those products lower. | :11:50. | :11:53. | |
Joining us is Lawrence Gosling, editor in chief at Investment Week. | :11:54. | :11:59. | |
Let's quickly touch on events in Holland. The markets are up. They | :12:00. | :12:06. | |
have taken this in their stride because it was expected, no big | :12:07. | :12:12. | |
shock. No, and as your previous guest said, there is a small sense | :12:13. | :12:17. | |
of relief. No disrespect to the Netherlands, of the three elections | :12:18. | :12:21. | |
this year it is the smallest and perhaps France and Germany are more | :12:22. | :12:24. | |
important, with Germany being the most important later in the year. | :12:25. | :12:31. | |
Let's talk about Anglo-American. An Indian businessman is busy getting | :12:32. | :12:36. | |
hold of the ?2 billion stake. What his seat up to? He says it is a good | :12:37. | :12:42. | |
investment. He runs a mining business. He was rebuffed by them a | :12:43. | :12:48. | |
couple of months ago when they were doing a joint deal in Hindustan. He | :12:49. | :12:54. | |
says one plus one equals 11. They did not think that, so he has gone | :12:55. | :12:57. | |
back with a friendly investment on behalf of his family. Is this the | :12:58. | :13:03. | |
little guy trying to take over the big guy? It is not a full reverse | :13:04. | :13:10. | |
takeover. He owns enough of Anglo-American to break it up. He | :13:11. | :13:16. | |
has got an investment bank tried to buy these shares over the next | :13:17. | :13:20. | |
couple of days, so I expect we will see the price rise in Anglo-American | :13:21. | :13:24. | |
rise for a couple of days until he gets his stakes. Everyone poring | :13:25. | :13:30. | |
over the detail about what happens next to rates in the US. This was | :13:31. | :13:34. | |
very well telegraphed and they have indicated they will carry on being | :13:35. | :13:39. | |
cautious and the market will probably see two more rises this | :13:40. | :13:44. | |
year. If there is more, the markets get a bit spooked. The market likes | :13:45. | :13:51. | |
predictability. Musk going to Wall Street for more money and he wants | :13:52. | :13:56. | |
$1.15 billion to get that model three into the mass market this | :13:57. | :14:01. | |
summer. That is his promise. What do you think? He keeps trying to raise | :14:02. | :14:06. | |
more money. They seem to be up for it, yet they are not making any | :14:07. | :14:10. | |
money yet. People will begin to call his bluff, as you set a couple of | :14:11. | :14:16. | |
minutes ago. He has got a lot of money, but no real revenue and | :14:17. | :14:22. | |
profits. I feel this will be the dot-com of our generation. The model | :14:23. | :14:29. | |
three is supposed to be mass-market and it is almost affordable, | :14:30. | :14:35. | |
$30,000. There still seems to be some negative news flow about the | :14:36. | :14:39. | |
whole idea of driving this car. I think they will come through, but I | :14:40. | :14:44. | |
am not sure he will be the person who cracks it. Oh! Your cards are on | :14:45. | :14:51. | |
the table. Nice to see you. You will be that a bit later. | :14:52. | :14:53. | |
We meet the man responsible for translating, dubbing | :14:54. | :15:01. | |
and subtitling some of our biggest films and TV shows. | :15:02. | :15:04. | |
You're with Business Live from BBC News. | :15:05. | :15:09. | |
Sales at supermarket giant Sainsbury's are up 0.3%. | :15:10. | :15:14. | |
That's after what the boss described as "very competitive" trading. | :15:15. | :15:19. | |
The firm bought the owner of Argos - Home Retail Group - | :15:20. | :15:22. | |
last September and it was the sales at Argos that helped boost | :15:23. | :15:25. | |
Theo Leggett has been going through the numbers. | :15:26. | :15:37. | |
What does it look like? On the face of it, these figures are quite | :15:38. | :15:43. | |
disappointing. If you look at like-for-like sales, that kind of | :15:44. | :15:48. | |
thing, overall sales were down half a percent but look over here, this | :15:49. | :15:53. | |
is the reaction from investors. Sainsbury's share price initially | :15:54. | :15:57. | |
dipping if you p but now it is on the road back. That tells you a bit | :15:58. | :16:00. | |
about going into the nitty-gritty of the figures. These figures were for | :16:01. | :16:07. | |
example weighed down by the fact that Mother's Day and Easter come | :16:08. | :16:11. | |
quite late this year and are not included in these figures. It has | :16:12. | :16:16. | |
weighed on sales of general merchandise, soft it sells alongside | :16:17. | :16:22. | |
its main food business was to Argos, which Sainsbury's bought only last | :16:23. | :16:26. | |
year, sales up 4.3%, starting to look like a good purchase. Online | :16:27. | :16:32. | |
grocery sales also did very well. Orders are up 8%. Convenience stores | :16:33. | :16:36. | |
doing nicely. It is a mixed bag but it reflects the fact that | :16:37. | :16:41. | |
Sainsbury's's core business is an intensely competitive one, and | :16:42. | :16:49. | |
pricing from Aldi and Liddell as well. They the value of the pound | :16:50. | :16:54. | |
has really hit these competitors. You get the sense that followed the | :16:55. | :17:02. | |
retailers are starting to make preparations. What Mike Cooper the | :17:03. | :17:08. | |
chief executive of Sainsbury's were saying today is that the market | :17:09. | :17:11. | |
remains very competitive, we know that, there are price pressures and | :17:12. | :17:18. | |
the impact of that imports, which are the honourable to the falling | :17:19. | :17:21. | |
pound, that outlook remains uncertain. But they say they are | :17:22. | :17:25. | |
well-placed navigate those external pressures. Thank you, Theo, good to | :17:26. | :17:31. | |
see you. Buying for a family of five I always find it hard to believe | :17:32. | :17:34. | |
that these companies aren't making more money, frankly. Balfour Beatty | :17:35. | :17:45. | |
returning to profit. Details on the way on the website. | :17:46. | :17:47. | |
You're watching Business Live - our top story... | :17:48. | :17:52. | |
The Dutch Prime Minister has come out on top in Parliamentary | :17:53. | :17:57. | |
elections, seeing off the challenge of the far right. The Euro is up | :17:58. | :18:07. | |
1.2%, a 5% higher, reassurance that may be the Euro project continues | :18:08. | :18:11. | |
for a bit longer but there are two big elections Germany and France | :18:12. | :18:12. | |
still to come. A quick look at how | :18:13. | :18:13. | |
markets are faring... All up strongly. A lot of that to do | :18:14. | :18:22. | |
with the Federal Reserve decision yesterday. | :18:23. | :18:25. | |
You may not have heard of BTI Studios, but you will know | :18:26. | :18:29. | |
their work because BTI Studios is among the world's largest | :18:30. | :18:31. | |
That means it provides translating, dubbing and subtitling | :18:32. | :18:34. | |
in more than 30 languages, so that hit TV shows like Games | :18:35. | :18:37. | |
of Thrones can be enjoyed in many countries. | :18:38. | :18:39. | |
Now there are more ways to view and enjoy TV content, | :18:40. | :18:42. | |
For the past ten years, BTI Studios has experienced | :18:43. | :18:47. | |
double-digit growth annually, and today operates 20 local | :18:48. | :18:49. | |
Clients include broadcasters, film studios and most recently, | :18:50. | :19:02. | |
it provided the audio descriptions and subtitles | :19:03. | :19:04. | |
Bjorn Lifvergren is the Chief Executive of BTI Studios. | :19:05. | :19:33. | |
Good morning. It is a fascinating business and quite complicated as | :19:34. | :19:41. | |
well, but before we get into all that, just tell us the story. At the | :19:42. | :19:47. | |
age of 24, you took over this company and became the boss with two | :19:48. | :19:51. | |
other twentysomethings. And you are ill -- also running it together now | :19:52. | :19:57. | |
which I think is quite phenomenal. I started out the company at age 20 | :19:58. | :20:02. | |
forward two employees, and old friends of mine, they have grown | :20:03. | :20:08. | |
with the company. The first few years we are sitting in the basement | :20:09. | :20:13. | |
of a building next to a bicycle storage room. Today we have offices | :20:14. | :20:18. | |
in 70 countries. That was in the 1990s, because you still look like | :20:19. | :20:22. | |
you are in the mid-20s. Thank you very much! Sorry, I am getting in | :20:23. | :20:29. | |
the way of this. There is a tendency to think of subtitling and dubbing a | :20:30. | :20:34. | |
sort of the same thing, it gets the point across, but the pending way | :20:35. | :20:37. | |
you are in Europe, very different things. It is, a cultural thing of | :20:38. | :20:44. | |
course. We see a lot of the bigger languages. They have a strong | :20:45. | :20:47. | |
dubbing position where they dub almost everything, which of course | :20:48. | :20:53. | |
has to do with the population of these countries are a lot bigger. | :20:54. | :21:00. | |
And that is actors reading the words. Really acting the words. That | :21:01. | :21:08. | |
process starts with the casting process, a mixing and laid-back | :21:09. | :21:16. | |
process, while subtitling, you have a subtitler manually doing it. That | :21:17. | :21:22. | |
is being done in the smaller countries, often like Sweden where I | :21:23. | :21:26. | |
am from. One of these things that amuses many people because when you | :21:27. | :21:30. | |
get subtitling right, you take it for granted, but when you get it | :21:31. | :21:36. | |
wrong, it can go very wrong. It is called the invisible text you | :21:37. | :21:38. | |
shouldn't be able to notice it unless something goes wrong. That is | :21:39. | :21:41. | |
the difference between dubbing and subtitling. If you do a subtitling | :21:42. | :21:45. | |
error, you will always have the original in the background, in the | :21:46. | :21:50. | |
original language, and hence we can never make an error. Have you had | :21:51. | :21:57. | |
any major faux pas? Yes, things around make up sex, where it was | :21:58. | :22:04. | |
translated something a bit more. Too early in the morning on the BBC! | :22:05. | :22:13. | |
Just to say, across countries, it is difficult with regulation, and with | :22:14. | :22:15. | |
Brexit on the way it can make things even more, located for you. I think | :22:16. | :22:22. | |
so. They lot of the issues around access services, that has been | :22:23. | :22:30. | |
regulated for a lot of costing from the UK, international broadcasters, | :22:31. | :22:35. | |
and regular did by Ofcom. Even if they are broadcasting into Poland or | :22:36. | :22:37. | |
the Czech Republic or other parts of the EC, they are obliged to follow | :22:38. | :22:43. | |
the Ofcom regulations. With Brexit coming about, we don't know how that | :22:44. | :22:46. | |
affect will come into the local territories. I really wish we could | :22:47. | :22:53. | |
talk more, time is against us. It is really good to talk to you, thank | :22:54. | :22:56. | |
you for coming and explaining and best of luck with it. | :22:57. | :22:59. | |
Train operator Eurostar - which operates passenger services | :23:00. | :23:01. | |
between the UK and France and Belgium via the Channel Tunnel - | :23:02. | :23:04. | |
says it made an operating loss of ?25 million last year. | :23:05. | :23:06. | |
Bookings were down in the aftermath of terror attacks | :23:07. | :23:09. | |
But Eurostar says things are looking up, the start of 2017 has been | :23:10. | :23:13. | |
positive with a surge in bookings from US travellers attracted | :23:14. | :23:15. | |
This is what the boss of Eurostar Nicolas Petrovic had to say. | :23:16. | :23:19. | |
It was difficult everywhere, a number of terrorist attacks, as we | :23:20. | :23:24. | |
know, on the continents, and it scared off a number of passengers, | :23:25. | :23:29. | |
especially from outside Europe, from Japan and the US. Overall it was | :23:30. | :23:35. | |
very challenging. With the swinging exchange rate also it was not very | :23:36. | :23:40. | |
good for us. Overall, a bit of a tough year but at the same time some | :23:41. | :23:45. | |
good news for stop we kept investing in our customer experience, we have | :23:46. | :23:49. | |
a new fleet of trains, because we know it will be temporary, these | :23:50. | :23:57. | |
kind of effects are temporary. Lawrence has returned, as promised, | :23:58. | :23:58. | |
and he will explain this story. They are producing chicken strips | :23:59. | :24:16. | |
from self reproducing cells. In a lab. It is the strength is clean | :24:17. | :24:23. | |
food, not from battery farming or traditional chickens. The Wall | :24:24. | :24:28. | |
Street Journal is allowed in with other journalists, and they thought | :24:29. | :24:32. | |
it tasted reasonably like real chicken, which I guess is either a | :24:33. | :24:40. | |
positive. That's what people say about frog legs. You should not have | :24:41. | :24:44. | |
been told it was not chicken as in and and all. Correct. Apparently the | :24:45. | :24:51. | |
duck tasted reasonably like duck. Already in your head you are saying | :24:52. | :24:57. | |
it is not really chicken. There is a serious issue about food security. | :24:58. | :25:03. | |
There are 61 billion chickens being grown every year for food. This | :25:04. | :25:11. | |
could pick up some of that. Benjamin says 100% yes, viewer feedback, | :25:12. | :25:15. | |
meat. However on the other side, meat. However on the other side, | :25:16. | :25:22. | |
Peter says no, if it didn't have feet it ain't meat. That is a direct | :25:23. | :25:29. | |
quote from Peter. Dean says of course why wouldn't you? It helps | :25:30. | :25:32. | |
the environment, would have no disease, could not happen fast | :25:33. | :25:38. | |
enough and me. Will you try some? I think so, I am up for some clean | :25:39. | :25:44. | |
meat. They should send some in. We will see you again soon, think of | :25:45. | :25:51. | |
your company too. Goodbye. -- thank you for your company. | :25:52. | :25:55. |