Browse content similar to 07/04/2017. Check below for episodes and series from the same categories and more!
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Hello, this is Business Live from BBC News. The US air strikes on | :00:10. | :00:16. | |
Syria overshadowed President Trump's meeting on trade and security with | :00:17. | :00:19. | |
China's President. Live from London that's our top story on Friday 7th | :00:20. | :00:20. | |
April. With little sign of a breakthrough | :00:21. | :00:42. | |
on efforts to tackle America's huge trade deficit, will the two men | :00:43. | :00:48. | |
manage to avoid a trade war? Also coming up, it's a lawsuit that | :00:49. | :00:53. | |
probably runs for more than 140 characters, Twitter sues the US | :00:54. | :00:59. | |
Government after it demanded to know the identity of an anti-Trump | :01:00. | :01:02. | |
account. Also we will look at how the markets are doing. A lower open | :01:03. | :01:06. | |
at the start of the trading day across Europe and safe haven assets | :01:07. | :01:11. | |
on the rise after news of that air strike by the US on Syria. | :01:12. | :01:18. | |
We will get the inside track on how Facebook is stepping up the fight | :01:19. | :01:23. | |
against fake news and the rest of the week's big tech stories | :01:24. | :01:30. | |
including a story on Tesla. Talking of fake news it's currently a hot | :01:31. | :01:34. | |
topic so today we want to know which stories have caught you out and how | :01:35. | :01:41. | |
did you realise? Let us know, just use the hashtag BBC Biz Live. | :01:42. | :01:50. | |
A warm welcome to the programme. The US President has been holding his | :01:51. | :02:00. | |
first face-to-face meeting with his Chinese counterpart. Trade and North | :02:01. | :02:04. | |
Korea were supposed to be at the top of the agenda but the summit has | :02:05. | :02:09. | |
been overshadowed by the US carrying out missile strikes on Syrian | :02:10. | :02:13. | |
Government air bases. Those were in response to a suspected chemical | :02:14. | :02:19. | |
weapons attack this week. In Florida, Donald Trump said | :02:20. | :02:23. | |
discussions with XI had been long and he was confident they would | :02:24. | :02:25. | |
develop a great relationship. They are the leaders of the world's two | :02:26. | :02:29. | |
biggest economies and they have been expected to discuss the US's huge | :02:30. | :02:33. | |
trade deficit with China, the fact that America imports far more from | :02:34. | :02:38. | |
China than the other way around. But in a sign their raegs relationship | :02:39. | :02:42. | |
seems to have got off to a good start Chinese state media are | :02:43. | :02:47. | |
reporting Donald Trump has accepted an invitation to China from MrXi. | :02:48. | :03:01. | |
Gareth Leathers joins us, senior Asia economist at Capital Economics. | :03:02. | :03:08. | |
Also we are getting some lines from the Chinese news agency here saying | :03:09. | :03:12. | |
that the first meeting with the two Presidents urged co-operation with | :03:13. | :03:18. | |
the US on investment, infrastructure and energy: There does seem to be | :03:19. | :03:27. | |
back peddling from the President. A year ago President Trump - now he is | :03:28. | :03:31. | |
saying it's the start of a great relationship, better news for us? | :03:32. | :03:37. | |
This is a familiar pattern, all Presidents on the campaign trail, | :03:38. | :03:41. | |
they were all the same, when they get into office they realise that | :03:42. | :03:45. | |
the relationship with China is normally more complicated, that it | :03:46. | :03:49. | |
can't be boiled down to a single issue such as trade. There are | :03:50. | :03:54. | |
encouraging signs, I don't want to discount Trump's unpredictability, | :03:55. | :03:57. | |
there are signs he is taking a more pragmatic line to China which is | :03:58. | :04:01. | |
encouraging. He is still going to be want to be seen doing something | :04:02. | :04:04. | |
about the trade, he has been going on about the trade deficit and job | :04:05. | :04:09. | |
losses. How does America reduce the trade deficit, they can't say to | :04:10. | :04:11. | |
China you have to buy more goods from America, how do you resolve | :04:12. | :04:15. | |
that? It's very difficult. One option which obviously Trump seemed | :04:16. | :04:20. | |
to favour on the campaign trail was large-scale tariffs, labelling China | :04:21. | :04:23. | |
a currency manipulator, he is rowing back in the short-term from that. | :04:24. | :04:27. | |
What he is hoping to do I think is build up a decent relationship with | :04:28. | :04:32. | |
his Chinese counterpart in the hope he will get easy concessions, you | :04:33. | :04:37. | |
may see a big order of Chinese Boeing from the US in the next | :04:38. | :04:41. | |
months. He may also seek concessions so the Chinese may look to open up | :04:42. | :04:44. | |
domestic markets in terms of levelling the playing field which is | :04:45. | :04:48. | |
one of the big complaints American companies have had recently. Of | :04:49. | :04:53. | |
course the other big thing on their agenda will be North Korea. China is | :04:54. | :04:59. | |
so important in terms of the North Korea's trade with anywhere else, a | :05:00. | :05:03. | |
lot of that trade goes through China. Yeah, Trump's been clear, he | :05:04. | :05:08. | |
has been putting pressure on the Chinese to try and act more | :05:09. | :05:13. | |
decisively with North Korea. And it's North Korea, sorry it's China | :05:14. | :05:16. | |
that holds all the leverage with North Korea, it is its biggest | :05:17. | :05:20. | |
trading partner and key ally. He has said if China doesn't follow through | :05:21. | :05:27. | |
with some commitments he is prepared to act unilaterally and the action | :05:28. | :05:30. | |
in Syria today is maybe a precursor to what he is prepared to do in | :05:31. | :05:35. | |
North Korea, he is showing America is tough and prepared to take a | :05:36. | :05:40. | |
stand. We have been talking about it the last couple of days, this | :05:41. | :05:44. | |
important meeting but for people watching this is important for | :05:45. | :05:46. | |
everybody that these two gentlemen behind us here and the two nations | :05:47. | :05:51. | |
actually get along and continue trading without a trade war. A | :05:52. | :05:56. | |
healthy one and two of the world's biggest economies is good for us. | :05:57. | :06:03. | |
It's the world's most important relationship, the last thing the | :06:04. | :06:07. | |
world needs is a trade war and that would hurt everyone. Thank you very | :06:08. | :06:13. | |
much. Some other news now. Spotify is | :06:14. | :06:20. | |
reportedly considering to a direct stock market listing, instead of | :06:21. | :06:22. | |
taking the usual route of holding an initial public offering. It is a | :06:23. | :06:27. | |
relatively rare way to sell shares in a company. The public would be | :06:28. | :06:30. | |
able to buy and share sells but the company would not raise any fresh | :06:31. | :06:35. | |
funds. We will talk about that shortly. | :06:36. | :06:47. | |
Hyundai and Kia Motors plan to recall more than 170,000 | :06:48. | :06:49. | |
vehicles in South Korea because of an engine defect. | :06:50. | :06:51. | |
The recall covers models equipped with a 2-liter or 2.4-liter Theta | :06:52. | :06:54. | |
two gasoline engine produced before August 2013. | :06:55. | :06:59. | |
The South Korean transport ministry said metal debris in crankshafts | :07:00. | :07:01. | |
could cause engine damage, leading to possible engine stalling. | :07:02. | :07:30. | |
Now to Asia, where Korean tech giant Samsung Electronics has published | :07:31. | :07:37. | |
a profit estimate for the first quarter that makes it | :07:38. | :07:40. | |
the best quarter for the company in three years. | :07:41. | :07:42. | |
It's not a shabby number. That's right impressive numbers today. As | :07:43. | :07:57. | |
we have been reporting Samsung has had a really rough ride in recent | :07:58. | :08:01. | |
times and just today the boss appeared in court for the first | :08:02. | :08:05. | |
time. He of course has been sitting in jail after being charged in a | :08:06. | :08:09. | |
corruption scandal that brought down South Korea's President. Going back | :08:10. | :08:16. | |
to those numbers, it really comes from the memory trip division as | :08:17. | :08:19. | |
well as flat panel display business. Sales have been strong and that has | :08:20. | :08:25. | |
led to positive profit forecasts which has forecast to jump by about | :08:26. | :08:30. | |
48% to nearly $9 billion. Of course these numbers are expected to help | :08:31. | :08:34. | |
Samsung shares even more. They've been trading at record highs in | :08:35. | :08:38. | |
recent weeks which goes to show this corruption scandal suspect putting | :08:39. | :08:41. | |
that much of a dent in its bottom line. Good to see you, thank you | :08:42. | :08:45. | |
very much. Let's look at the markets. | :08:46. | :08:51. | |
Bonds, the yen and gold jumped in Asia - Investors turning | :08:52. | :08:53. | |
to safe-haven assets after the United States | :08:54. | :08:55. | |
launched cruise missiles against an air base in Syria. | :08:56. | :08:57. | |
It means attention is focused on the Middle East | :08:58. | :08:59. | |
and the impact on the oil price - which has risen - | :09:00. | :09:02. | |
rather than the meeting between President Trump and Xi | :09:03. | :09:06. | |
The US dollar dropped , while gold and oil prices rallied hard, | :09:07. | :09:11. | |
though the early market panic calmed when a US official called the attack | :09:12. | :09:15. | |
a "one-off," with no plans for escalation. | :09:16. | :09:18. | |
A softer start to the trading day across Europe. | :09:19. | :09:31. | |
One other story we're keeping an eye on is the row between Twitter | :09:32. | :09:34. | |
Twitter shares ended the trading day on Wall Street lower. | :09:35. | :09:39. | |
The social media giant is suing the Trump administration | :09:40. | :09:42. | |
after authorities demanded Twitter to reveal the identity | :09:43. | :09:44. | |
The anonymous profile criticised the government's immigration policy. | :09:45. | :09:51. | |
Dave Lee sent us this from San Francisco. | :09:52. | :09:59. | |
In January, when Donald Trump became President Trump several so-called | :10:00. | :10:05. | |
alternative accounts for US Government services began appearing | :10:06. | :10:08. | |
online. Most claim to be authored by current or former employees at those | :10:09. | :10:11. | |
agencies and offered harsh criticisms of their new boss. Now | :10:12. | :10:18. | |
it's been revealed that US customs and border protection filed | :10:19. | :10:20. | |
documents demanding Twitter reveal the identity of at least one of the | :10:21. | :10:24. | |
tweeters speaking ill of President Trump. The law the Government is | :10:25. | :10:28. | |
using to meant to be for finding out more information about the source of | :10:29. | :10:33. | |
imported goods coming into the USA and not from unmasking online | :10:34. | :10:36. | |
identities. Therefore, Twitter has asked the judge here to refuse the | :10:37. | :10:40. | |
request calling it an issue of free speech. Twitter's move has been | :10:41. | :10:45. | |
strongly backed by groups who support strong online privacy. | :10:46. | :10:49. | |
Twitter is protecting its users here. I think as a platform it | :10:50. | :10:55. | |
really wants to be a place where people can speak freely. Yeah, I | :10:56. | :10:57. | |
think this is really important for them to be doing and I think they're | :10:58. | :11:01. | |
doing it from a place of actually wanting to protect their users and | :11:02. | :11:05. | |
protect speech. President Trump famously loves using | :11:06. | :11:08. | |
Twitter because he says it gives him the freedom to say what he wants | :11:09. | :11:12. | |
without having to go via the mainstream media. With this lawsuit | :11:13. | :11:15. | |
Twitter is saying that freedom should apply to everybody on the | :11:16. | :11:20. | |
network, even if they're anonymous and even if they're criticising the | :11:21. | :11:31. | |
commander in chief. Just saying his beard gets thicker | :11:32. | :11:38. | |
and thicker! Richard Dunnebar joins us. US jobs, | :11:39. | :11:47. | |
it's that time of the month, it's Friday, and they're expecting | :11:48. | :11:50. | |
another big number that continues to indicate that American employment is | :11:51. | :11:54. | |
full at the moment. Year, we are expecting quarter of a million new | :11:55. | :11:58. | |
jobs to be added. The economy is at full employment, as importantly | :11:59. | :12:01. | |
those jobs are paying more than inflation so Americans have more | :12:02. | :12:04. | |
money in their pocket so consumer is doing well. The by-product is | :12:05. | :12:08. | |
interest rates are starting to rise now. The chairman of the Federal | :12:09. | :12:13. | |
Reserve saying the US economy is maybe running a little hotter than | :12:14. | :12:17. | |
it should and it's time to touch the brake a little. And that's an | :12:18. | :12:21. | |
increase in rates. Yeah, nevertheless the economy is in rude | :12:22. | :12:24. | |
health and that's for the rest of us is a rising tide that lifts many | :12:25. | :12:28. | |
boats and if the US economy is doing well other economies tend to do well | :12:29. | :12:33. | |
also. Something we were talking about earlier, Spotify and | :12:34. | :12:37. | |
by-passing the usual route of public offering, just going to list and put | :12:38. | :12:41. | |
shares on the market. Explain for us why that makes a difference and how | :12:42. | :12:45. | |
it works. Why would you come to the market, to either raise new money or | :12:46. | :12:48. | |
to sell shares that you already have, if you are a big private | :12:49. | :12:51. | |
company. But you don't have to do that. You can list the shares and | :12:52. | :12:54. | |
say that's providing a value for the company, people can see the value | :12:55. | :12:58. | |
and if people or others want to buy or sell shares in future they can. | :12:59. | :13:01. | |
They obviously don't need to raise new money or they don't feel the | :13:02. | :13:05. | |
need to sell existing shares they've got. Doesn't the IPO give you the | :13:06. | :13:10. | |
value of the stock? Exactly. So it will list on the market. The market | :13:11. | :13:15. | |
players will say this is... What do you list it for? Just to provide | :13:16. | :13:20. | |
that value. And to give you options in future. At some point you might | :13:21. | :13:24. | |
want to raise money. At the moment all I get is the value and that's | :13:25. | :13:29. | |
useful. If I am Spotify and I go there is the shares, what do they | :13:30. | :13:35. | |
start at? How do you price it? People will buy and sell them and | :13:36. | :13:39. | |
they'll find a price. Obviously the management at Spotify don't wish to | :13:40. | :13:43. | |
sell many shares and raise new capital. Interesting. Subscribers | :13:44. | :13:48. | |
continue to grow, I think. It's a fabulous product, it's been a | :13:49. | :13:50. | |
fabulous success for the user of that product. It doesn't make any | :13:51. | :13:55. | |
money yet. It's normally helpful at some point in a corporate history. | :13:56. | :14:00. | |
Like a lot of those tech companies, not all of them, but some not making | :14:01. | :14:05. | |
a profit. You are going to take us through some of the paper stories. | :14:06. | :14:06. | |
Speak to you later. properties compared to the same | :14:07. | :14:11. | |
period last year. That's according to latest | :14:12. | :14:34. | |
figures from online property portal Rightmove. | :14:35. | :14:39. | |
For the first time since 2014, asking rents outside London fell | :14:40. | :14:42. | |
in the first quarter of the year, down by 0.4% on the | :14:43. | :14:48. | |
previous quarter. Theo Leggett is in our | :14:49. | :14:52. | |
business newsroom. Any breakdown or sign of where the | :14:53. | :15:06. | |
biggest changes are or is this across the board? To a certain | :15:07. | :15:09. | |
extent it's across the board, yes it's an average figure but the trend | :15:10. | :15:13. | |
is that last year there were changes in stamp duty which meant a lot of | :15:14. | :15:17. | |
people planning to invest in rental properties did so in a rush. There's | :15:18. | :15:21. | |
been this surge of rental properties coming on to the market. Great news | :15:22. | :15:24. | |
if you are a representer because that's been weighing on rents and | :15:25. | :15:28. | |
across the country the rise over the past year was only 1. 8% and in the | :15:29. | :15:33. | |
first quarter of the year average rents actually fell. But there is a | :15:34. | :15:38. | |
big difference across the country. In London, for example, across the | :15:39. | :15:42. | |
year rents have fallen by more than 4%. Obviously the London market has | :15:43. | :15:48. | |
been overheated for a while. In other areas such as Manchester | :15:49. | :15:55. | |
they've been rising sharply, up 8% and West Brom up 9%. There are | :15:56. | :16:00. | |
regional variations but the trend is more properties on the market, | :16:01. | :16:02. | |
that's keep ago lid on rents. VO, you have a great weekend. Stay | :16:03. | :16:13. | |
watching. You're definitely a redhead. We have a little snippet | :16:14. | :16:21. | |
about Lada coming up next. If you invested in one of those a few years | :16:22. | :16:25. | |
ago, you might be making some money, I think. Don't give the story we! | :16:26. | :16:32. | |
Cheeky man! Out there he! He's still there, he's still smiling. Have a | :16:33. | :16:43. | |
great weekend,. -- CEO. There is a lot of reaction to the military | :16:44. | :16:50. | |
strike on Syria. We have got EU regulators due to announce later | :16:51. | :16:53. | |
they are going to give the green light to the 21st-century Fox $1 | :16:54. | :16:59. | |
billion takeover of the UK broadcaster Sky. We will keep across | :17:00. | :17:02. | |
that story. China's President Xi Jinping has | :17:03. | :17:20. | |
urged cooperation with the United States on investment, infrastructure | :17:21. | :17:24. | |
and energy when his first meeting with President Trump. It has been | :17:25. | :17:28. | |
overshadowed by the US air strikes on Syria. We will keep across that. | :17:29. | :17:30. | |
A quick look at how markets are faring.... | :17:31. | :17:36. | |
Investors are very cautious. We have seen the safe havens like gold and | :17:37. | :17:51. | |
bombs have gone up. -- gold and bonds. A muted, soft opening across | :17:52. | :17:56. | |
Europe. And now let's get the inside track | :17:57. | :17:57. | |
on this week's tech stories with our We have had a busy week with tech | :17:58. | :18:00. | |
stories. Fake news and Tesla. Let's start off with Facebook's | :18:01. | :18:06. | |
announcement that it's going to step up its attempts to combat fake | :18:07. | :18:09. | |
news. Ever since the election last year in | :18:10. | :18:17. | |
America, Facebook has been under huge pressure about its role in | :18:18. | :18:21. | |
spreading fake news. First of all it said, I don't think this is really a | :18:22. | :18:26. | |
big deal, they underplayed it, then it has rapidly changed tack and | :18:27. | :18:29. | |
said, we are going to have a whole series of actions against it. Today | :18:30. | :18:33. | |
it has launched what it calls an educational tool across 14 | :18:34. | :18:37. | |
countries. If you have got Facebook in 14 countries you will see this | :18:38. | :18:45. | |
advert for a guide to how to spot what they call false news. It has | :18:46. | :18:48. | |
got ten points in it, ten tips. Really they are kind of quite | :18:49. | :18:52. | |
sensible things. It's almost a guide to basic journalism, check out the | :18:53. | :18:56. | |
sources, look at the evidence, I rather like this one, look at. Lynn, | :18:57. | :19:01. | |
shocking headlines. Well, we are all going to have to be careful with our | :19:02. | :19:07. | |
headlines. I also like the fact that they say, make sure what you are | :19:08. | :19:12. | |
looking that isn't just a joke. Sometimes people see satirical | :19:13. | :19:14. | |
websites and take them seriously. The point is, they are under | :19:15. | :19:20. | |
pressure to stop the flow of this fake information from which people | :19:21. | :19:23. | |
are actually making a lot of money. Some of it is driven by politics, | :19:24. | :19:28. | |
obviously. A lot of it is to buy operation set up thinking, we can | :19:29. | :19:32. | |
make money, because people clicked on this stuff, we advertise against | :19:33. | :19:36. | |
it and make money from the advertising. A lot of people talk | :19:37. | :19:40. | |
about the imagination... That story, the value. In less than 24 hours, | :19:41. | :19:48. | |
you can imagine a British company was valued at 1700 million dollars, | :19:49. | :19:54. | |
banged down to $250 million, a small country almost entirely dependent on | :19:55. | :20:00. | |
the biggest company in the world, Apple. It provides graphic chips for | :20:01. | :20:05. | |
Apple. Apple announces a big move worried is going to make its own | :20:06. | :20:09. | |
chips and it is not going to need little old imagination technology | :20:10. | :20:13. | |
any more. And the shares absolutely plummeted. They fell 60%, 70%. Next | :20:14. | :20:20. | |
day, they recovered a bit because it is now sort of speculation that | :20:21. | :20:23. | |
obviously there will be a buyout target, and maybe they will be able | :20:24. | :20:29. | |
to do some deal with Apple which still needs a lot of technology, and | :20:30. | :20:35. | |
is hiring people, it has hired a lot of the imagination technology staff. | :20:36. | :20:39. | |
It needs to ramp up its chip production. Apple, the other half of | :20:40. | :20:43. | |
the story, becoming a big player in making its own chips, making | :20:44. | :20:47. | |
everything from the chips to obviously the phones, to the | :20:48. | :20:51. | |
software that runs on them. Powerful integrated technology company. We | :20:52. | :21:00. | |
have got ten seconds. Often tech companies are accused of being | :21:01. | :21:07. | |
overvalued. In this case, Tesla,... Wow, Tesla. Fantastically | :21:08. | :21:11. | |
interesting company, electric car company owned by Elon musk, made | :21:12. | :21:16. | |
80,000 cars last year, now worth more than Ford, which made quite a | :21:17. | :21:20. | |
few more, many millions more. In terms of car production. It is being | :21:21. | :21:27. | |
valued as a silicon valley company, not as a car company. Interesting. | :21:28. | :21:33. | |
Rory, have a great weekend. Always a pleasure. We went from Tesla cars, | :21:34. | :21:35. | |
what about this one... Picture a classic car, | :21:36. | :21:37. | |
chances are it's something very fast and very expensive - | :21:38. | :21:39. | |
a bright red Ferrari perhaps, or a sleek shiny Porsche. | :21:40. | :21:41. | |
But whilst the glamorous end of the vintage market | :21:42. | :21:44. | |
grabs the headlines, some rather more modest models can | :21:45. | :21:46. | |
make a handsome return for savvy collectors. | :21:47. | :21:48. | |
One such specimen is a bog-standard And if you had picked | :21:49. | :21:52. | |
one up ten years ago, you could be sitting on a 4000% | :21:53. | :21:59. | |
profit. My name's Ed Hughes, | :22:00. | :22:05. | |
I'm a technology teacher turned I have a collection of Ladas | :22:06. | :22:08. | |
and other Eastern European So, this is my 1994 Lada | :22:09. | :22:13. | |
105, or a Riva 1500 And I've had it probably | :22:14. | :22:21. | |
about 13-14 years. It was given to me by a chap | :22:22. | :22:31. | |
who basically said his wife had told him that either it went | :22:32. | :22:41. | |
or the husband went! So he sold it to me for about ?50, | :22:42. | :22:49. | |
or $65, thereabouts. It's probably worth | :22:50. | :22:52. | |
about ?2000, $2500. It's provided reliable transport | :22:53. | :22:55. | |
for me for many years. In the meanwhile, I've got more | :22:56. | :23:01. | |
and more of these things, which perhaps wasn't quite | :23:02. | :23:03. | |
so sensible in retrospect. Now, if somebody offered me let's | :23:04. | :23:06. | |
say a Ferrari in exchange for my whole collection of cars, | :23:07. | :23:08. | |
I probably wouldn't accept, because I think it's very easy, | :23:09. | :23:15. | |
anybody with a big enough cheque-book can own a car like | :23:16. | :23:19. | |
a Ferrari or something like that. But it requires a bit more skill, | :23:20. | :23:26. | |
a bit more care and so on, to own a collection of motoring's | :23:27. | :23:30. | |
less loved specimens. Wow! I want one of those now! What | :23:31. | :23:45. | |
do you call a Lada with a sunroof? A skip! This is really interesting. | :23:46. | :23:54. | |
Norwegian sovereign Wealth fund has come at and said that the system of | :23:55. | :24:04. | |
executive pay is pretty much flawed. A lot of thinking is going into | :24:05. | :24:08. | |
executive pay, not only by the Norwegians but by institutions like | :24:09. | :24:12. | |
ourselves trying to find schemes that are long-term, transparent, | :24:13. | :24:20. | |
simple, but also reflect the efforts of senior directors on boards and to | :24:21. | :24:23. | |
get the right figure and the right structure. It's not straightforward. | :24:24. | :24:27. | |
This is obviously an interesting angle from the Norwegian state oil | :24:28. | :24:32. | |
company. But many other institutions, not least ourselves, | :24:33. | :24:35. | |
also thinking this way about the best structures to put in place. It | :24:36. | :24:39. | |
comes just after BP quite dramatically cut the pay packet for | :24:40. | :24:43. | |
its boss. There was a huge vote against that BP package last year. | :24:44. | :24:48. | |
But when you see the extent to which institutions like ourselves are | :24:49. | :24:52. | |
voting against these executive pay deals and are working extremely hard | :24:53. | :24:56. | |
to produce the right pay deals that suits us as shareholders, but also | :24:57. | :24:59. | |
suits the many others that or interested in these areas as well, I | :25:00. | :25:03. | |
think you'd be surprised. Were going to move onto stinky milk. I didn't | :25:04. | :25:07. | |
realise this, the Norwegian sovereign wealth fund is $900 | :25:08. | :25:13. | |
billion, but on average it owns 1.3% of every listed company in the | :25:14. | :25:17. | |
world. It has been a fabulous save of their assets over the years, and | :25:18. | :25:22. | |
that is the result that they have got. I think the milk is likely off! | :25:23. | :25:29. | |
That's how you do it, you smell it. Scientists at Trinity College Dublin | :25:30. | :25:34. | |
are using nanotechnology in order to try and build a chip that can send | :25:35. | :25:37. | |
us a message to our telephones that will tell us when the milk is off, | :25:38. | :25:41. | |
so when we are sitting on the train on the way home, the phone will go, | :25:42. | :25:46. | |
the milk is off, pop into the shop on the way home, job done, there you | :25:47. | :25:54. | |
go. A useful direction for their efforts! Have a great weekend, | :25:55. | :25:57. | |
Richard Dunbar, thank you very much. Wrap it up! | :25:58. | :25:58. | |
There will be more business news throughout the day on the BBC Live | :25:59. | :26:03. | |
web page and on World Business Report. | :26:04. | :26:05. |