:00:15. > :00:17.Digital advertising can tell you who's watching and when.
:00:18. > :00:23.Are firms being conned by fake views?
:00:24. > :00:28.Also in the programme, two of India's largest telecoms firms.
:00:29. > :00:34.Vodafone India Idea Cellular are merging to become
:00:35. > :00:39.We'll cross live to Mumbai for the latest.
:00:40. > :00:42.And it's a quiet day for corporate and economic news
:00:43. > :00:46.after the excitement of last week's Fed rate rise.
:00:47. > :00:48.We'll look at what's moving the numbers and why.
:00:49. > :00:51.Also in the programme, we'll be visiting the new silk road.
:00:52. > :00:54.It spans 7,500 miles, but how will businesses capitalise
:00:55. > :00:58.on the new train link between Asia and Europe?
:00:59. > :01:01.It's the UN's international day of Happiness.
:01:02. > :01:07.Norway has come out top in the World Happiness Index overtaking
:01:08. > :01:15.Let us know What makes you happy in your job?
:01:16. > :01:44.If people don't know you exist, or what you do, you'll
:01:45. > :01:52.So how do firms make sure they're spending it in the right place
:01:53. > :01:57.That's top of the agenda for the industry's big annual
:01:58. > :02:03.Around the world, across all forms of media it's thought to be
:02:04. > :02:06.at nearly half a trillion dollars a year.
:02:07. > :02:10.But where companies chose to spend their ad dollars is changing.
:02:11. > :02:15.About 38% went on traditional TV adverts last year with 36%
:02:16. > :02:23.This year online ads are set to become the biggest slice
:02:24. > :02:28.But the platforms which host the ads like Google and Facebook
:02:29. > :02:31.are grappling with a big rise in advertising fraud.
:02:32. > :02:34.This comes in the form of bots and software that tricks websites
:02:35. > :02:38.into thinking more people have actually seen an ad which means
:02:39. > :02:46.And this problem is growing, and some of the leading players
:02:47. > :02:50.in the industry are now warning that 20 percent of all digital ad
:02:51. > :02:56.spending is in danger of being wasted on fraud.
:02:57. > :03:03.With me is Our Technology Correspondent Rory Cellan Jones.
:03:04. > :03:08.Rory, this is something you've talked to some of the top bosses
:03:09. > :03:12.about, it's a big deal for the advertising industry isn't it? It's
:03:13. > :03:15.a crisis really. I think it's a subject that's dominating chat at
:03:16. > :03:20.all sorts of advertising meetings and conferences. Don't forget, when
:03:21. > :03:23.online advertising came along, it had huge promise, you would be able
:03:24. > :03:28.to target people precisely, you would know more about who was seeing
:03:29. > :03:32.your ad, then you would be able to measure the performance effectively.
:03:33. > :03:38.Both those things have been brought massively into question by the sheer
:03:39. > :03:44.extent of ad fraud. A survey predicted that out of the $80
:03:45. > :03:47.billion spent worldwide on digital advertising, over $16 billion would
:03:48. > :03:50.be completely wasted and go in fraud. They are getting increasingly
:03:51. > :03:54.desperate about how to tackle it and they are getting very angry with the
:03:55. > :03:58.likes of Google and Facebook. So what is likely to happen? I
:03:59. > :04:03.you can bolt on to your ads to you can bolt on to your ads to
:04:04. > :04:07.reduce this somehow if you are a customer wanting to advertise on
:04:08. > :04:11.Google but actually Google and Facebook are not keen on that?
:04:12. > :04:17.There's pre-big verification software being touted by some
:04:18. > :04:20.agencies as being very effective in reducing fraud to virtually zilch.
:04:21. > :04:24.They are saying make sure that you are actually getting real traffic
:04:25. > :04:28.before you place your ads, that these aren't going to be subject to
:04:29. > :04:32.phoney views, your ads will be viewed by people not computers. But
:04:33. > :04:38.they're saying that Google and Facebook aren't keen on this
:04:39. > :04:41.software. Google have told me we don't allow third party software on
:04:42. > :04:46.our platforms but they claim that they in any case are doing all sorts
:04:47. > :04:50.of stuff. I have a statement saying we took down 1.7 billion ads that
:04:51. > :04:55.violated their policy last year more than double the previous year. What
:04:56. > :04:59.should begans do who wished to advertise online effectively and not
:05:00. > :05:04.want to pay out for ads not being looked at by real people? It's
:05:05. > :05:09.basically a technological war, a bit like the arms race going on over
:05:10. > :05:12.cyber security. They need the best tools available. They are uniting
:05:13. > :05:19.now the advertising industry in a way you have not seen them do
:05:20. > :05:23.before, saying, I heard a threat recently from the big agencies to
:05:24. > :05:26.Google and Facebook, listen if you don't sort this because you dominate
:05:27. > :05:31.online advertising, we are going to have a boycott. That seems unlikely
:05:32. > :05:33.because why would you move away from the biggest platform, but they're
:05:34. > :05:39.making that threat. Interesting. Thank you, Rory. More
:05:40. > :05:42.on that later in the programme. Uber president Jeff Jones
:05:43. > :05:46.is leaving the company A source at the taxi booking company
:05:47. > :05:51.told the BBC the resignation They said Mr Jones was frustrated
:05:52. > :05:58.that Uber was hiring a new chief operating officer
:05:59. > :06:01.and that he was not But according to technology news
:06:02. > :06:05.site Recode, Mr Jones left because of Uber's continued struggle
:06:06. > :06:08.with issues around sexism South Korea has complained
:06:09. > :06:12.to the World Trade Organisation about China, saying the world's
:06:13. > :06:14.second largest economy put restrictions on its goods
:06:15. > :06:17.in response to the installation Chinese authorities have closed
:06:18. > :06:22.stores of South Korea's Lotte Group, but Beijing denies the link
:06:23. > :06:25.between the closures China is South Korea's
:06:26. > :06:31.largest trading partner. Brazil's President Michel Temer has
:06:32. > :06:34.sought to reassure foreign trade partners that the corruption scandal
:06:35. > :06:37.engulfing the country's meat industry does not
:06:38. > :06:40.mean its products are unsafe. In a meeting with ambassadors from
:06:41. > :06:43.Europe, the United States and China, Mr Temer said his government
:06:44. > :06:47.is confident about the quality Top meat-packers have been accused
:06:48. > :06:52.of selling rotten produce for years. Brazil is the world's
:06:53. > :07:03.biggest red meat exporter. UK telecoms giant Vodafone
:07:04. > :07:06.has merged its Indian business with Idea Cellular,
:07:07. > :07:10.India's third-largest network, to create the country's
:07:11. > :07:12.largest operator. Sameer Hashmi is at the company's
:07:13. > :07:21.press conference in Mumbai. Sameer, bring us up-to-date. This is
:07:22. > :07:26.a big deal create ago huge organisation when all the signing is
:07:27. > :07:34.done on the dotted rhine? That is right. -- dotted line. It's
:07:35. > :07:38.a mega-merger. There are still a lot of issues that need to be sorted out
:07:39. > :07:42.and that's the reason why both companies have said that it will
:07:43. > :07:47.take up to 24 months for the merger to complete. Once done, it will be
:07:48. > :08:02.the largest Telecoms company in India with nearly 400 million users,
:08:03. > :08:14.a huge market share in India. There is a huge price war happening. There
:08:15. > :08:17.is a company owned by another company, offering Internet data at
:08:18. > :08:22.dirt cheap prices which has forced big players to come together to cut
:08:23. > :08:26.losses and make money in this highly competitive market. Remember with
:08:27. > :08:28.over a billion phone-users, India is an attractive market but to make
:08:29. > :08:32.money they need to consolidate the size of this market. That's what the
:08:33. > :08:36.companies are trying to do. Thank you very much for keeping us across
:08:37. > :08:38.that. I know you will follow the twists and turns of that as it
:08:39. > :08:39.develops. Most Asian markets lower
:08:40. > :08:42.at the start of a new week - following on from the rises last
:08:43. > :08:45.week after the Fed Rate decision and easing of fears over
:08:46. > :08:48.the election in the Netherlands. Wall Street also ended
:08:49. > :08:51.lower on Friday. European markets look like this
:08:52. > :08:54.right now on what's likely to be a quiet day for corporate
:08:55. > :09:03.and economic news. Samira has the details about what's
:09:04. > :09:12.ahead on Wall Street Today. Last week they were busy raising
:09:13. > :09:15.interest rates, this week beneficials will be business write
:09:16. > :09:20.speaking at events around the country. The Federal Reserve will be
:09:21. > :09:26.giving opening remarks at a research conference and A Fed official will
:09:27. > :09:31.also be speaking. Nike will be reporting earnings on Tuesday and
:09:32. > :09:35.the company is struggling with increased competition from Under
:09:36. > :09:39.Armour and Adidas in North America. Nike still holds a big part of the
:09:40. > :09:47.footwear market but rivals are gaining strength. And finally on
:09:48. > :09:53.Thursday, the world's biggest video game retailer, Game Stop, will be
:09:54. > :09:56.reporting earnings. Lower sales of video game titles will likely hurt
:09:57. > :09:59.the company's earnings. Joining us is Jessica Ground, UK
:10:00. > :10:10.Equities Fund Manager, Schroders. Good morning, nice to see you. A new
:10:11. > :10:24.trading week but it feels flat after the flurry of last week's activity.
:10:25. > :10:27.We had a Fed Rate decision. Japan is closed, not much going on. Deutsche
:10:28. > :10:33.Bank grabbing attention for the wrong reasons again. Fill us in
:10:34. > :10:40.about Deutsche Bank? Deutsche Bank has been a long-running saga. German
:10:41. > :10:44.industry has always been fantastic, very high returns, but banks have
:10:45. > :10:52.always really struggled to get good returns and this has been Deutsche's
:10:53. > :10:58.suring up of the balance sheets, selling off Asset Management. To
:10:59. > :11:01.Europe. We heard a lot of economic data, the unemployment figures and
:11:02. > :11:07.growth figures. Inflation this week. What are we expecting? It's not
:11:08. > :11:11.going to be great. We have got weaker sterling and higher oil
:11:12. > :11:15.commodity prices so that naturally is going to be inflationary. We
:11:16. > :11:19.import a lot of things so that will be coming through in food, as well
:11:20. > :11:24.as petrol. Interesting though that the dollar is weakening over the
:11:25. > :11:29.weekend. We are looking today at the pound dollar, the pound buying quite
:11:30. > :11:34.a bit of collars unusually today -- dollars. Quite unusual. The Fed yes,
:11:35. > :11:41.an official rate rise, but then people feeling it was quite dovish,
:11:42. > :11:46.so the Fed saying they are going to be watching, doesn't need to rise a
:11:47. > :11:49.lot very quickly. The Bank of England though is more hawkish and
:11:50. > :11:53.really saying it's going to be watching the inflation figures very
:11:54. > :11:56.closely. And briefly, I'm looking at the
:11:57. > :12:00.board there, there's not a huge amount to get excited about. Sally
:12:01. > :12:04.touched on the fact that we had all the excitement last week. What is
:12:05. > :12:13.the next thing to look out for? European elections. Just really
:12:14. > :12:17.policy uncertainty in the US and UK won wondering how much uncertainty
:12:18. > :12:19.there will be. Europe has been staging a good economic recovery,
:12:20. > :12:21.people will be wanting that to continue.
:12:22. > :12:27.We'll watch that closely. Nice to see you. Thank you.
:12:28. > :12:34.Still to come on the programme: We'll be visiting the knell Silk
:12:35. > :12:40.Road, spanning 7,500 miles, but how will businesses capitalise on the
:12:41. > :12:47.link? Stay with us for that. You are with us now on business live news.
:12:48. > :12:50.More now on Europe's largest gathering of
:12:51. > :12:54.The UK's advertising market is worth around ?200 billion.
:12:55. > :12:56.With targeted advertising coming under fire for adverts placed next
:12:57. > :12:59.to extremist material, what are the other challenges facing
:13:00. > :13:05.Edwina Dunn is the chief executive of Starcount
:13:06. > :13:10.and she was co-founder of Dunnhumby, the firm behind the Tesco Clubcard.
:13:11. > :13:16.A very good morning to you. Let's talk about what you do with the data
:13:17. > :13:20.because clearly you are an expert in all of this and know what consumers
:13:21. > :13:24.are doing, how and where they shop, and that is the joy of digital
:13:25. > :13:27.advertising and marketing, you have more information about customers
:13:28. > :13:33.than ever before? Yes, that is right. Actually, when
:13:34. > :13:37.we started work with Tesco on Clubcard 20 years ago, people said
:13:38. > :13:43.that targeted marketing would never be relevant because Tesco is a mass
:13:44. > :13:47.market brand. And so no-one really could conceive the idea of sending
:13:48. > :13:52.differentiated messages to millions of consumers. But it worked and it
:13:53. > :13:58.propelled them from, you know, almost third place in the market to
:13:59. > :14:03.market leader by a massive percentage. I feel where we are in
:14:04. > :14:08.the market right now is in a similar position. People are saying, you
:14:09. > :14:14.know, digital and being able to reach millions of people means that
:14:15. > :14:20.there's no role for selective or targeted advertising. People get
:14:21. > :14:24.everything. I think it's the time that it's going to shift now and
:14:25. > :14:30.there are going to be some companies out there that are really clever in
:14:31. > :14:34.how they actually selectively offer up content and messages.
:14:35. > :14:38.And that, to some of us listening, might be a worry because we are
:14:39. > :14:43.finding out that you are becoming much more clever at targeting us and
:14:44. > :14:47.using the data that you do receive about us and we are concerned about
:14:48. > :14:54.where that is going and how it's used? I think the fact is, consumers
:14:55. > :14:58.have gotten used to free stuff. People, mainly getting some idea of
:14:59. > :15:03.what they're interested in. That combination of wanting free stuff
:15:04. > :15:05.and knowing them, that puts huge demands on companies to actually be
:15:06. > :15:15.smarter with data. Flavoursome All of the technology
:15:16. > :15:17.has been rear view mirror, analysing what people did. The future will
:15:18. > :15:31.be... Sorry to interrupt. Now, you might not pay
:15:32. > :15:46.much attention to them, but white - fridges,
:15:47. > :15:48.washing machines and dishwashers Turkey's biggest white
:15:49. > :15:55.goods company, Arcelik, operates in more than 100 countries
:15:56. > :16:00.including the United States. But now they want to
:16:01. > :16:05.expand into China. China's retail market became
:16:06. > :16:07.the world's biggest last year, worth $4.89 trillion,
:16:08. > :16:15.overtaking the US. It's now valued at $4.82 trillion,
:16:16. > :16:17.but high-end home appliances Sales have fallen in the past few
:16:18. > :16:21.years and there are worries that Arcelik is Europe's third largest
:16:22. > :16:30.home appliances company. As the Silk Road is revived
:16:31. > :16:34.with the new train link between Britain and East China,
:16:35. > :16:37.does that really open Hakan Bulgurlu is Chief
:16:38. > :16:49.Executive of Arcelik. Welcome to Business Live. Thank you.
:16:50. > :16:52.Now, you are a Turkish company. You have been around for many years and
:16:53. > :16:58.you've been with the company for sometime yourself. And you're very
:16:59. > :17:02.established in many countries around the world including China, but for
:17:03. > :17:09.your company, how big an opportunity did does this new link provide for
:17:10. > :17:13.you? I personally firmly believe that the economic growth engine of
:17:14. > :17:18.the world is shifting to the east together with the enlarging middle
:17:19. > :17:23.classes I think South East Asia and the Indian subcontinent will take a
:17:24. > :17:31.larger share of global GDP. Arcelik we're trying to position Beko our
:17:32. > :17:35.brands. Turkey has a long-standing tradition of trading on the Silk
:17:36. > :17:39.Road. Today with China's investment in one belt, one road policy and the
:17:40. > :17:46.giant infrastructure projects that are going in both in South East Asia
:17:47. > :17:49.and the Indian subcontinent I believe there will be lots of
:17:50. > :17:54.opportunities. We have established a manufacturing base in Thailand with
:17:55. > :17:58.sales subsidiaries in many of those countries, but also acquired a
:17:59. > :18:04.company in Pakistan which has a very firm future with the 200 million
:18:05. > :18:10.trong population. How difficult is to penetrate those markets? We
:18:11. > :18:14.talked about China. I imagine there is so much competition in the Asian
:18:15. > :18:18.economies where they're making. I mean some companies have been making
:18:19. > :18:24.white goods for again rations and they are very well established?
:18:25. > :18:31.Competition is very severe. Differentiating is the key
:18:32. > :18:34.factorment we invest in innovation. We have a research facility in
:18:35. > :18:42.Cambridge which we're proud of. The only way is to differentiate, water
:18:43. > :18:44.efficiency, preventing food waste. In these developing economies
:18:45. > :18:51.because are important aspects of the product. We believe we're better
:18:52. > :18:54.than the competition and as Arcelik we're used to doing business in
:18:55. > :19:00.difficult to do business places. We find it easier than the comp t. Talk
:19:01. > :19:09.me through the trade flows. We are used to seeing products and services
:19:10. > :19:16.come from west to east, but that's changing? We have 18 factories in
:19:17. > :19:20.seven kuvenlts countries. We believe that the manufacturing footprint is
:19:21. > :19:28.going to be important going forward. So for South East Asia, Thailand and
:19:29. > :19:31.for the Indian subcontinent, we are in Pakistan, but other markets will
:19:32. > :19:37.be important too. White goods are large so you need to manufacture
:19:38. > :19:41.close to the market itself. Consumer insight is critical. Each market is
:19:42. > :19:45.very different to the other and you have to integrate the consumer
:19:46. > :19:50.insights into the product themselves so you have to be local. You're
:19:51. > :19:54.local and you're global and you're diversified globally which I imagine
:19:55. > :19:58.is very important for you as a company in terms of weathering the
:19:59. > :20:02.economic storms that are taking place in various economies, when it
:20:03. > :20:06.comes to the politics with the president in Turkey, how is that
:20:07. > :20:14.affecting how you go about your business and what's going on in
:20:15. > :20:20.Turkey with the immigration crisis. You are based, founded and you have
:20:21. > :20:24.thousands of employees? I believe Turkey's future is very sound. The
:20:25. > :20:27.economic growth, the demographics are very positive. There are
:20:28. > :20:34.challenges. Chiefly immigration as you mentioned. But also, the
:20:35. > :20:37.politics with Europe may cause temporary fluctuations, but the
:20:38. > :20:41.partnership is so deeply rooted, Europe and Turkey both need each
:20:42. > :20:45.other, not only for the market, but for a manufacturing base. Let's talk
:20:46. > :20:49.about inflation because it is one of the things we're told will go up. We
:20:50. > :20:52.have seen the fall in the value of the pound. That means stuff we
:20:53. > :20:56.import from overseas, what effect does it have on you because we're
:20:57. > :21:03.told white goods is something we will see a rise in? 2.5 million
:21:04. > :21:06.appliances are sold in the UK. Brexit caused some fluctuation with
:21:07. > :21:10.currency which will have inflationary pressure. We expect
:21:11. > :21:18.that toe maybe temper demand for sometime going forward. However, the
:21:19. > :21:23.UK's prospects are, if you look at the G7 economies growth, on going
:21:24. > :21:28.growth targets. The UK is projected to grow faster than the G7 economies
:21:29. > :21:32.so we aim to double our business here over the next five years. We're
:21:33. > :21:36.market leaders in terms of units and value, but we believe the economy
:21:37. > :21:38.will do just fine. Come back in five years when you've doubled the
:21:39. > :21:45.business and we'll speak to you again. Hopefully.
:21:46. > :21:52.Thank you for coming in. The CEO of Arcelik. Fascinating.
:21:53. > :21:55.In a moment we'll take a look through the business pages but first
:21:56. > :21:58.here's a quick reminder of how to get in touch with us.
:21:59. > :22:00.The Business Live page is where you can stay
:22:01. > :22:02.ahead of all the day's breaking business news.
:22:03. > :22:05.We'll keep you up-to-date with the latest details of insight
:22:06. > :22:08.and analysis from the BBC's team of editors right around the world.
:22:09. > :22:12.Get involved on the BBC Business Live web page
:22:13. > :22:23.You can find us on Facebook, BBC Business News.
:22:24. > :22:30.Business Live on TV and online, whenever you need to know.
:22:31. > :22:42.This is in Bloomberg. It is international world happiness day
:22:43. > :22:47.and they have got a story, but Bloomberg put the money spin on it
:22:48. > :22:51.that money doesn't buy happiness. This research tried to quantify how
:22:52. > :22:55.unhappy money might make you. It looked at how happy people were in
:22:56. > :22:59.2006 in America and how much money you'd have to be earning in order to
:23:00. > :23:06.make up for how more unhappy you were now. So basically, USDP is
:23:07. > :23:11.$53,000. To make you happy, you need $133,000, it would have to go up
:23:12. > :23:14.that much. People are more unhappy maybe because they're earning more
:23:15. > :23:18.money because they perceive there is more corruption in society, all
:23:19. > :23:21.these soft issues rather than just economic wealth.
:23:22. > :23:25.Shall we talk about what the viewers have been saying to us about
:23:26. > :23:29.international happiness day. We asked the question what would make
:23:30. > :23:41.you happy at work. Ben said working with me. Anyway, Gary says,
:23:42. > :23:45."Fridays." Gary, I'm with you. Yohan says, "Helping others achieve their
:23:46. > :23:51.goals." Another viewer says, "The fact that he has retired." Judith
:23:52. > :23:55.says it is about the joy of seeing employees reach their potential and
:23:56. > :24:05.shine. Judith sounds like a nice boss. Assuming she is a boss.
:24:06. > :24:10.Judith, who do you work for? General Motors tries a subscription plan for
:24:11. > :24:14.cadillacs? You buy a service from the company. A cadillac turns up at
:24:15. > :24:19.your door, if you don't fancy that one, you call up and change it to
:24:20. > :24:26.another one. You drive it? It is not a chauffeur. It is like a power by
:24:27. > :24:31.the hour! You pay... It is taking it another step forward. You just
:24:32. > :24:35.really are buying mobility services of a company and Ford and Volkswagen
:24:36. > :24:39.have looked hard at this idea. We'll provide you with whatever you want,
:24:40. > :24:43.a motorbike, a taxi or a car, or whatever you want just to move you
:24:44. > :24:46.around. The car companies will just own the relationship with the
:24:47. > :24:50.customer and get away from the messy business of making cars. This is
:24:51. > :24:54.fascinating. In five or ten years, we'll look back and the idea of
:24:55. > :24:58.buying a car that sits for the majority of time outside your house,
:24:59. > :25:03.empty and unused is a waste of money. Odd. You will start paying
:25:04. > :25:07.for what you use so paying by the hour for your car. It will work out
:25:08. > :25:12.cheaper in the long-term. Unless you've got a rare cadillac, the car
:25:13. > :25:19.you buy just loses value the money you park it on the drive. As soon as
:25:20. > :25:26.it drives off the show room floor. You need fewer parking spaces and
:25:27. > :25:29.fewer car parks in city centres. For the car insurance industry, what
:25:30. > :25:32.does it mean? They will insure the car and they don't need to insure
:25:33. > :25:37.you. Nice to see you. Thank you for that. Thank you for your company
:25:38. > :25:40.today. Keep smiling! It is international happiness day. We're
:25:41. > :25:52.very happy. We will see you soon. Bye-bye.
:25:53. > :25:54.Hello. Good morning. Spring is going to be taking a bit of