Browse content similar to 19/04/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News, with Ben Thompson and Sally Bundock. | :00:00. | :00:00. | |
Plans for an early election in the UK look set to be approved | :00:07. | :00:14. | |
as the Prime Minister seeks to strengthen her hand | :00:15. | :00:16. | |
Live from London, that's our top story on Wednesday 19th of April. | :00:17. | :00:35. | |
The UK will go to the polls on June eighth and Brexit will be the key | :00:36. | :00:39. | |
We will have the details. The Chinese giant that will be sharing | :00:40. | :00:59. | |
its driverless car technology. Could it accelerate the sector? After a | :01:00. | :01:03. | |
busy day for the markets die jesting the news of the snap election, this | :01:04. | :01:06. | |
is how the numbers in Europe have open. We will have the details for | :01:07. | :01:08. | |
you, and why. We'll be crossing live | :01:09. | :01:15. | |
to Brussels to find out. What do you want to ask | :01:16. | :01:21. | |
about what the election means for Brexit Just use the hashtag | :01:22. | :01:24. | |
#BBCBizLive. Nine months after becoming | :01:25. | :01:37. | |
Prime Minister, Theresa May is throwing the dice and betting | :01:38. | :01:47. | |
on victory in a snap Today, MP's are expected to vote | :01:48. | :01:50. | |
in favour of the proposal, which Mrs May says will bring | :01:51. | :01:58. | |
greater certainty as Britain prepares to leave | :01:59. | :02:00. | |
the European Union. The pound was on a roller | :02:01. | :02:01. | |
coaster ride - it jumped - then swung to loss and back again | :02:02. | :02:06. | |
rising by as much as two point 7% against the US dollar - | :02:07. | :02:09. | |
some analysts believe markets are cheering the prospect | :02:10. | :02:12. | |
of a larger Conservative majority which would give LESS power | :02:13. | :02:14. | |
to hardline Eurosceptics The FTSE 100 - the leading stock | :02:15. | :02:16. | |
market in London - fell 1.8% - the biggest fall since early | :02:17. | :02:29. | |
November - but remember it's because a stronger pound | :02:30. | :02:32. | |
makes their dollar denominated But despite the ongoing uncertainty, | :02:33. | :02:34. | |
the International Monetary Fund has revised its forecasts for the UK | :02:35. | :02:37. | |
economy UP - predicting growth That would make it the second | :02:38. | :02:40. | |
fastest growing developed economy in the world, | :02:41. | :02:43. | |
behind only the United States. Business groups have used | :02:44. | :02:49. | |
yesterday's news to demand politicians make firm commitments | :02:50. | :02:51. | |
as part of any potential Will they get them? That's the big | :02:52. | :02:53. | |
question. In a moment, we'll hear | :02:54. | :03:09. | |
from the boss of WPP. which is the world's | :03:10. | :03:12. | |
biggest advertising agency. But first here's the Director | :03:13. | :03:13. | |
General of the Confederation of British Industry which represents | :03:14. | :03:15. | |
nearly 200,000 UK businesses. More uncertainty not welcomed by | :03:16. | :03:26. | |
business but in terms of the longer term benefits, I think many | :03:27. | :03:29. | |
businesses are seeing the opportunity for a government with a | :03:30. | :03:33. | |
stronger mandate bringing longer-term stability and also a | :03:34. | :03:37. | |
potential benefit in terms of timing, in that the implementation | :03:38. | :03:41. | |
period at the end of Article 50 was going to have a general election in | :03:42. | :03:45. | |
it and may now need to be run with a period of stability, so some good | :03:46. | :03:52. | |
news, a silver lining from this. I can't see that it will make the EU | :03:53. | :03:56. | |
negotiate less effectively, but on the other hand it gives her a much | :03:57. | :04:01. | |
stronger position. She is not susceptible to uprisings or results | :04:02. | :04:05. | |
from the hard Brexiteers. I think the reason why sterling strengthened | :04:06. | :04:10. | |
is that the markets are saying this probably means a softer Brexit or a | :04:11. | :04:17. | |
transition agreement, rather than, again falling over a cliff at the | :04:18. | :04:19. | |
end of negotiations. Mark Littlewood is Director General | :04:20. | :04:25. | |
of the UK's Institute of Economic Affairs a free-market | :04:26. | :04:27. | |
think tank based here in London. Just to say so the viewers are | :04:28. | :04:34. | |
aware, the think tank itself is neutral but you yourself are very | :04:35. | :04:41. | |
much pro-Brexit, that was your boat last year. Give us your take on the | :04:42. | :04:50. | |
timing of this snap election. I think the Prime Minister has done | :04:51. | :04:54. | |
the right thing. At the moment the Conservatives have a very thin | :04:55. | :04:57. | |
majority and in normal political cycles that would diminish further | :04:58. | :05:03. | |
in the next two or three years. So a snap election now is a chance for a | :05:04. | :05:08. | |
fresh mandate. If Theresa May Winscombe which the opinion polls | :05:09. | :05:11. | |
indicate she win, it will be her first public mandate, and if she | :05:12. | :05:15. | |
were to return with a majority of say 100 or more, then she is in a | :05:16. | :05:19. | |
stronger position around the negotiating table, not because it | :05:20. | :05:22. | |
affects what the EU does, but because she doesn't need to look | :05:23. | :05:25. | |
over her shoulder about what the House of Commons might do. If she | :05:26. | :05:30. | |
does win decisively, and that is her gamble | :05:31. | :05:45. | |
that what the opinion polls say, then she is in a stronger position | :05:46. | :05:49. | |
because she doesn't need to worry about domestic political concerns | :05:50. | :05:51. | |
when she is sitting face-to-face with the EU, having triggered | :05:52. | :05:53. | |
Article 50. Why the change of heart, because she was on record, no | :05:54. | :05:55. | |
general election, no general election, oh, we are having a | :05:56. | :05:57. | |
general election. Why the change of heart? I am not sure there has been | :05:58. | :06:00. | |
a change of heart. The nature of these things, if you are going to | :06:01. | :06:03. | |
call a snap election, it needs to be a bulk from the blue. The BBC only | :06:04. | :06:06. | |
had an hour 's notice that Theresa May was going to say something. But | :06:07. | :06:09. | |
she couldn't have done was to have the last six months of saying well, | :06:10. | :06:13. | |
I'm mulling it over, I think it is 50-50 whether I have an election, | :06:14. | :06:16. | |
some Bupa think I should, some think I should not. You need to be | :06:17. | :06:20. | |
decisive, and that means she has decisively had to change her mind on | :06:21. | :06:25. | |
this. So we know about that for sure but as Carolyn said and Sir Martin | :06:26. | :06:29. | |
said there are so much uncertainty still and that will continue in the | :06:30. | :06:34. | |
next few weeks and beyond. The pound rose strongly, many would argue, on | :06:35. | :06:37. | |
the view that those hardline Eurosceptics within the Conservative | :06:38. | :06:42. | |
Party will now be further die looted by this general election. Actually | :06:43. | :06:45. | |
that's something I presume you don't want because you actually want a | :06:46. | :06:51. | |
hard Brexit? I do want a hard Brexit, a clean Brexit, a decisive | :06:52. | :06:54. | |
Brexit, call it what you will. We don't know yet what will be in the | :06:55. | :06:58. | |
Conservative Party manifesto but I suspect Theresa May will end up | :06:59. | :07:02. | |
being a hard Brexiteer. I think the Conservative manifesto will commit | :07:03. | :07:05. | |
the UK to leaving the customs union and leaving the single market. | :07:06. | :07:10. | |
That's about as hard as Brexit gets. Will the public vote for that? We | :07:11. | :07:15. | |
don't know the answer, that is up to the public on June the 8th. If | :07:16. | :07:19. | |
opinion polls are about to be believed, and they have not got | :07:20. | :07:22. | |
everything right in recent years. But if they are to be believed, | :07:23. | :07:28. | |
Theresa May is on track for a landslide victory, and therefore the | :07:29. | :07:36. | |
lines in the thing will be the decisive part of the negotiation and | :07:37. | :07:39. | |
I think that the Conservatives and Theresa May will make to a pretty | :07:40. | :07:44. | |
hard Brexit and win a mandate for it. We shall watch this space. Thank | :07:45. | :07:50. | |
you for your time. We talk about the battle lines being drawn, six weeks | :07:51. | :07:55. | |
of interesting campaigning to come. Let's bring you up to date with the | :07:56. | :07:56. | |
news. The Dutch paint and chemicals giant | :07:57. | :08:00. | |
AkzoNobel has reported record profits for the first three months | :08:01. | :08:03. | |
of the year coming It's a welcome boost | :08:04. | :08:05. | |
for the company's chief executive as he tries to fend off a hostile | :08:06. | :08:08. | |
takeover from US rival PPG. US President Donald Trump has | :08:09. | :08:12. | |
ordered a review of a temporary visa programme used to place foreign | :08:13. | :08:14. | |
workers in high-skilled US jobs. Technology firms are amongst those | :08:15. | :08:17. | |
most reliant on the H1-B scheme which admits 85,000 people a year | :08:18. | :08:20. | |
to the US. Mr Trump also told government | :08:21. | :08:22. | |
agencies to enforce existing rules on excluding foreign contractors | :08:23. | :08:24. | |
from bids for government projects. The computing giant IBM has | :08:25. | :08:26. | |
announced a fall in sales in the first three months | :08:27. | :08:29. | |
of the year. It marks the fifth straight year | :08:30. | :08:34. | |
of declining revenues for the company as it struggles | :08:35. | :08:37. | |
to adapt to the switch to cloud computing and programmes - | :08:38. | :08:40. | |
affecting demand for its consultants, hardware | :08:41. | :08:42. | |
and traditional software. Lots of other business stories out | :08:43. | :09:00. | |
there, believe you me, apart from the fact we are heading for an | :09:01. | :09:03. | |
election here in the UK. Among them, Burberry. The luxury goods company, | :09:04. | :09:11. | |
it is reporting a slight slowdown in fourth-quarter sales. Tough | :09:12. | :09:14. | |
conditions in the US, it says, weighed on its performance in the UK | :09:15. | :09:17. | |
but it describes its performance in the UK as exceptional. That may well | :09:18. | :09:23. | |
be because actually there has been a real rise in tourism, luxury goods | :09:24. | :09:28. | |
bought in the UK, because of the weakness of sterling since last June | :09:29. | :09:35. | |
Fozz friend. Burberry down 6.1% so far as a result of those figures. We | :09:36. | :09:38. | |
will keep an eye on that. Chinese internet giant Baidu has | :09:39. | :09:42. | |
said it will share much of the technology it has created | :09:43. | :09:44. | |
for its self-driving cars. We have talked about all sorts of | :09:45. | :09:57. | |
driverless cars race and the really driverless cars race and the really | :09:58. | :10:02. | |
is a race, isn't it? It is, and what is surprising is that it is the | :10:03. | :10:05. | |
Chinese firm doing this, quite the reverse of other companies in the | :10:06. | :10:09. | |
sector, such as Tesla and Google, who have tended to keep key | :10:10. | :10:14. | |
developments in driverless technology secret. Baidu predicts | :10:15. | :10:18. | |
the project, called Apollo, would help drive the developer. Autonomous | :10:19. | :10:23. | |
vehicles. It is the Chinese internet giant, and they made the | :10:24. | :10:26. | |
announcement ahead of the Shang guy auto show. They said the | :10:27. | :10:31. | |
technologies would be available as soon as July -- Shanghai auto show. | :10:32. | :10:35. | |
It would make a range of services available to car-makers. Baidu has | :10:36. | :10:42. | |
been developing the self drive vehicles since 2015, and analysts | :10:43. | :10:45. | |
say it could benefit Baidu as it puts them in the position of | :10:46. | :10:49. | |
becoming the supplier of the brains for more cars than just the ones of | :10:50. | :10:55. | |
makes itself. And one potential benefit is also revenue from | :10:56. | :10:59. | |
car-makers in the long term. Analysts say this is a move a bit | :11:00. | :11:03. | |
like Google's decision to release android, the free operating system | :11:04. | :11:06. | |
for smartphones, even though it was free to use became a successful | :11:07. | :11:10. | |
Google because it actually drove users to the company's various | :11:11. | :11:14. | |
mobile apps and services. So watch this space. We will and I know you | :11:15. | :11:18. | |
will keep us posted from Singapore. Thank you very much. Let's look at | :11:19. | :11:23. | |
the numbers. Uncertainty is the name of the game. | :11:24. | :11:26. | |
Just as the election cycle of the Netherlands, | :11:27. | :11:28. | |
Germany and France was coming to an end, add in the new | :11:29. | :11:31. | |
But sharp falls in commodity prices have already been a drag | :11:32. | :11:36. | |
Iron ore prices hitting their lowest levels this year, | :11:37. | :11:39. | |
copper prices down too, hitting their lowest levels | :11:40. | :11:42. | |
since early January - over worries of oversupply. | :11:43. | :11:48. | |
But in Europe - the falls came on the back of that | :11:49. | :11:51. | |
As we've said, the rebound in the pound doesn't help the FTSE - | :11:52. | :11:56. | |
with earnings of the top 100 companies looking much rosier | :11:57. | :11:59. | |
But don't expect too much election-related | :12:00. | :12:09. | |
on the markets ahead of the vote on June 8th. | :12:10. | :12:14. | |
Unless the polls show a weakening of support for the Conservatives. | :12:15. | :12:17. | |
Continued support gives Theresa May a stronger mandate to take | :12:18. | :12:19. | |
on hardline anti-EU backbenchers and that could take | :12:20. | :12:21. | |
the edges off what's become known as 'hard Brexit'. | :12:22. | :12:23. | |
We'll assess that more in a moment - but let's first head to the US | :12:24. | :12:27. | |
where Michelle Fleury has the details of the day | :12:28. | :12:29. | |
US indexes seem unable to break their losing streak. | :12:30. | :12:36. | |
Will the latest earnings out of America change that momentum? | :12:37. | :12:39. | |
Shares in the big American bank Goldman Sachs weighed heavily | :12:40. | :12:41. | |
That was after its quarterly results disappointed investors. | :12:42. | :12:50. | |
This Wednesday, Morgan Stanley reports | :12:51. | :12:51. | |
Cost-cutting and a strong performance by its | :12:52. | :12:54. | |
trading desk is expected to lift profits. | :12:55. | :12:56. | |
Meanwhile, failure to keep down expenses could cost American | :12:57. | :12:58. | |
Analysts are forecasting a drop in its quarterly profits and | :12:59. | :13:05. | |
the payment company is also suffering from lower rates to | :13:06. | :13:07. | |
merchants as well as competition in the reward space. | :13:08. | :13:13. | |
And on the technology front, well, improved | :13:14. | :13:14. | |
royalties from Chinese smartphone makers, | :13:15. | :13:19. | |
that is expected to lift the | :13:20. | :13:21. | |
So there is plenty going on, really busy right now. | :13:22. | :13:31. | |
Joining us is Jeremy Stretch, head of currency strategy | :13:32. | :13:33. | |
Nice to see you. Good morning. Lots of stories breaking yesterday, | :13:34. | :13:42. | |
moving markets and let a lot of as Mr because the ball from the blue | :13:43. | :13:48. | |
from Theresa May. A good day to bury bad news at least in this market as | :13:49. | :13:53. | |
far as Godman are concerned. We did not necessarily focus quite so much | :13:54. | :13:56. | |
of a Goldman earnings, which were disappointing compared to their | :13:57. | :14:00. | |
peers. When you think about the volatility all the movement in the | :14:01. | :14:05. | |
aftermath of the Trump election back in November you would have | :14:06. | :14:08. | |
notionally assumed that Goldman's model based on high levels of | :14:09. | :14:11. | |
trading and volatility would have benefited from that, so that was | :14:12. | :14:18. | |
something about surprise. Let's took quickly, the IMF upgrading for the | :14:19. | :14:22. | |
UK, the timing coincidental. Absolutely. CHUCKLING | :14:23. | :14:26. | |
It put it only behind the United States. And behind Canada, coming | :14:27. | :14:33. | |
from a Canadian house. I think it is interesting that the IMF have pushed | :14:34. | :14:37. | |
their numbers up in line are both governments and the and also the | :14:38. | :14:40. | |
Bank of England. I think the question is whether we can sustain | :14:41. | :14:44. | |
the level of growth we have seen in quarters three and four based on | :14:45. | :14:46. | |
consumption because of course we have seen the savings ratio in | :14:47. | :14:51. | |
quarter four the lowest in the generation. Consumers are still | :14:52. | :14:54. | |
spending or have been spending at the expense of running down their | :14:55. | :14:57. | |
savings. That is not a long-term scenario that can be sustained and | :14:58. | :15:01. | |
of course we are still seeing the legacy of the price fall in the | :15:02. | :15:04. | |
value of sterling over the last year. Consumers will struggle | :15:05. | :15:08. | |
further in the year. For now, thank you, Jeremy. Not often just yet. He | :15:09. | :15:13. | |
will return and talk about some other business stories. Not more on | :15:14. | :15:20. | |
the election there is to come. Still to come, and we will talk about | :15:21. | :15:22. | |
that. What does the UK's snap | :15:23. | :15:23. | |
election mean for Brexit? We'll be live in Brussels to assess | :15:24. | :15:26. | |
the impact on the negotiations. Keep sending in your questions, we | :15:27. | :15:33. | |
will put that to our Europe corresponded in Brussels. | :15:34. | :15:34. | |
You're with Business Live from BBC News. | :15:35. | :15:45. | |
One of Britain's most successful business people - | :15:46. | :15:49. | |
Jayne Anne Gadhia - the head of the Virgin Money Bank - | :15:50. | :15:52. | |
has for the first time revealed her struggles | :15:53. | :15:54. | |
In an exclusive interview with the BBC she describes her | :15:55. | :16:00. | |
debilitating bout of post natal depression and her continuing mental | :16:01. | :16:03. | |
Particularly periods of stressful work. | :16:04. | :16:09. | |
She's been speaking to our economics editor Kamal Ahmed. | :16:10. | :16:11. | |
The first time that I'd ever, ever experienced what people had | :16:12. | :16:19. | |
described as depression I'd always sort of assumed depression was | :16:20. | :16:22. | |
something that was a bit weak minded or something. | :16:23. | :16:24. | |
And when it hit me I realised nothing could be further | :16:25. | :16:26. | |
The sort of thing that comes into your life and sucks | :16:27. | :16:32. | |
I don't know where to go, I don't know what to | :16:33. | :16:37. | |
You're at that point where everybody expects you to be happy | :16:38. | :16:42. | |
Her response to mental illness, to ask for help from | :16:43. | :16:49. | |
friends, doctors, colleagues at work, and from close | :16:50. | :16:51. | |
For Jayne Anne, years later in the run-up | :16:52. | :16:57. | |
to the Virgin Money's debut on the stock exchange. | :16:58. | :17:06. | |
The stress there, Jayne, you said led to | :17:07. | :17:09. | |
I mean, it was an important, big emotional issue. | :17:10. | :17:12. | |
You think, gosh, if I can't do this what is the way out? | :17:13. | :17:16. | |
There is no way out, I can't tell anybody, | :17:17. | :17:18. | |
what are the press going to | :17:19. | :17:19. | |
I thought I was but sometimes you think the | :17:20. | :17:25. | |
I didn't go too far down that route but I can understand how people can | :17:26. | :17:30. | |
never allow that to happen to people. | :17:31. | :17:38. | |
Do you think people still see depression as a sign of weakness? | :17:39. | :17:41. | |
If one of us turns up to work on crutches with a broken | :17:42. | :17:44. | |
leg it's easier to sympathise, or empathise, or help. | :17:45. | :17:46. | |
But when you can't see it I think that's much | :17:47. | :17:49. | |
That's part of the reason why both raising the | :17:50. | :17:52. | |
a sensible and controlled way discussing it, means that it can be | :17:53. | :17:57. | |
remediated in some way, whatever the right way | :17:58. | :17:59. | |
Jayne Anne Gadhia speaking about her experiences. | :18:00. | :18:26. | |
You're watching Business Live - our top story: | :18:27. | :18:29. | |
The UK Parliament is today expected to approve the Prime Minister's | :18:30. | :18:32. | |
plans to hold a snap election on June 8th. | :18:33. | :18:36. | |
Brexit is expected to dominate the campaign. | :18:37. | :18:44. | |
A quick look at how markets are faring. | :18:45. | :18:48. | |
I would like to mention France for our viewers in France. There is the | :18:49. | :18:56. | |
CAC 40, currently down slightly. On Sunday it is the first round in | :18:57. | :19:02. | |
their presidential race. That will bring the several candidates down to | :19:03. | :19:07. | |
two remaining candidates who will go in neck and neck to the month of May | :19:08. | :19:12. | |
so let's not just be obsessed with our events in June, important time | :19:13. | :19:19. | |
in France. That's how they are looking. | :19:20. | :19:21. | |
After the roller-coaster movement yesterday, the snap election, the | :19:22. | :19:26. | |
pound against the dollar, 1.28, rising sharply. | :19:27. | :19:31. | |
We promised you the view from Brussels so let's do that on | :19:32. | :19:36. | |
business life. The impending departure of the UK from the | :19:37. | :19:39. | |
European Union is a key issue in this election. | :19:40. | :19:41. | |
Our correspondent Gavin Lee joins us from Brussels. | :19:42. | :19:44. | |
We have had quite a few questions coming through from viewers on this. | :19:45. | :19:50. | |
I want to start off with Peter's question because it was going to be | :19:51. | :19:53. | |
my first question anyway. What is the view in EU? Will a strong | :19:54. | :19:58. | |
Conservative presence in Westminster League 2, I want to get his question | :19:59. | :20:01. | |
exactly right, a more favourable Brexit deal -- lead to? The view | :20:02. | :20:10. | |
here from the European Commission and council, the conduit between | :20:11. | :20:13. | |
Britain and the other 27 countries, is potentially it could be. We are | :20:14. | :20:18. | |
told by senior EU staff, when you have Theresa May dusting down the | :20:19. | :20:22. | |
cobwebs of the hard Brexiteers, those who were four remain, if there | :20:23. | :20:28. | |
is more of a unity government, presumably done at presuming she is | :20:29. | :20:31. | |
elected and it is not one of the other parties, the big concern here | :20:32. | :20:35. | |
is what happens in 2019 is that some are worried there will be a hard | :20:36. | :20:40. | |
Brexit, that because in 2020 there is supposed to be a General Election | :20:41. | :20:44. | |
which has been brought forward, by 2019 there could be an emphasis by | :20:45. | :20:49. | |
those arguing for a harder Brexit that Britain basically tethers | :20:50. | :20:53. | |
itself, there is no transitional agreement in place and for Europe | :20:54. | :20:57. | |
all round that seems problematic for the markets. That might be something | :20:58. | :21:01. | |
if Theresa May has a mandate to be a straight negotiator, things might be | :21:02. | :21:05. | |
easier. That is basically, what is happening here is some of the EU | :21:06. | :21:09. | |
diplomats are moving the chess pieces forward and looking at some | :21:10. | :21:16. | |
of the potential positives. Yesterday a Prime Minister said it | :21:17. | :21:18. | |
is problematic because they are moving the date further and further | :21:19. | :21:23. | |
until they can get into proper Brexit negotiations. Gavin, you have | :21:24. | :21:27. | |
been in Brussels to rout this and throughout the EU referendum. I'm | :21:28. | :21:30. | |
interested in what people are made of this when the news came in | :21:31. | :21:34. | |
yesterday. It was a surprise for everybody in the UK. Was there a | :21:35. | :21:39. | |
tutting and eye rolling response in Brussels? Genuine shock. I was in a | :21:40. | :21:45. | |
midday briefing where all of the EU commission officials sit down to | :21:46. | :21:49. | |
discuss the matters of the data. Turkey was big on the agenda | :21:50. | :21:52. | |
yesterday given the referendum and I mention the fact the news had come | :21:53. | :21:55. | |
in from Theresa May and there was real shock. The officials giving the | :21:56. | :21:59. | |
press conference had no information is my impression talking to some of | :22:00. | :22:03. | |
the staff yesterday was that there was no briefing, nobody was told in | :22:04. | :22:06. | |
advance. There was a conversation afterwards with Donald Tusk, the | :22:07. | :22:17. | |
head of the European Council, and heat we did a Hitchcock reference, | :22:18. | :22:19. | |
just like Brexit the movement, firstly earthquake and then the | :22:20. | :22:21. | |
tension builds, one of Alfred Hitchcock's quotes. It took them by | :22:22. | :22:23. | |
surprise and now they say their position has not changed and they | :22:24. | :22:26. | |
are ready to start talks. It is very different to how the movie ends and | :22:27. | :22:31. | |
we can't choose our own ending, unfortunately. If we talk about what | :22:32. | :22:33. | |
is going on this weekend in France, there could be another real issue | :22:34. | :22:38. | |
for Brussels if France were to go in the direction of Marine Le Pen. | :22:39. | :22:43. | |
Massively. I will be in Paris in a few days' time. Whittling down to | :22:44. | :22:49. | |
potentially two candidates if they get through to the second round and | :22:50. | :22:53. | |
Marine Le Pen is at the moment in contention. In the polls at the | :22:54. | :22:56. | |
moment it looks like she is in second place with a chance to become | :22:57. | :22:59. | |
the French President and she is strongly advocating taking France | :23:00. | :23:05. | |
out of Europe and wants a referendum on the Euro. That would be a game | :23:06. | :23:11. | |
changer. It comes back to the fact that EU staff on Brexit are saying | :23:12. | :23:14. | |
that the British election is big, they believe the French election is | :23:15. | :23:18. | |
potentially bigger given there is a real unknown candidate here. In | :23:19. | :23:22. | |
brief talks proper will probably start for Brexit in September given | :23:23. | :23:25. | |
what is happening behind us and given what is happening with the | :23:26. | :23:29. | |
British election. Gavin, good to talk to you as always, thank you for | :23:30. | :23:33. | |
bringing us up to date. Was of twists and turns as this unfolds but | :23:34. | :23:40. | |
we will keep you across that with our team particularly in Brussels | :23:41. | :23:42. | |
about the indications for Brexit. Jeremy is back and we are discussing | :23:43. | :23:45. | |
some of the other stories in the press today in terms of business, so | :23:46. | :23:49. | |
a breather from elections for a little while. This is in the Wall | :23:50. | :23:52. | |
Street Journal, sorry, the Washington Post, the newest Silicon | :23:53. | :23:57. | |
Valley perk, paid time off to get out on the streets and protest | :23:58. | :24:00. | |
against Mr Trump, the new President. Being paid on company time to | :24:01. | :24:03. | |
protest against the leader of the free world is an interesting | :24:04. | :24:08. | |
variants but it is very much the case that Silicon Valley, which is | :24:09. | :24:12. | |
an international community, as huge numbers of migrant workers and is | :24:13. | :24:15. | |
clearly a sector which is very much opposed to a lot of the policies | :24:16. | :24:19. | |
being pursued by Mr Trump and now the perks are being included in the | :24:20. | :24:22. | |
workplace. It is a sector that relies heavily on the specific | :24:23. | :24:26. | |
reason that Trump has just recently honed in on in the last 24 hours in | :24:27. | :24:31. | |
terms of how it is used and how much it is used. Absolutely, clearly the | :24:32. | :24:35. | |
industry feels under threat and while the industry has been very | :24:36. | :24:40. | |
much known for providing unusual perks to provide and facilitate the | :24:41. | :24:44. | |
workforce on a daily basis, this is now a real and present danger for | :24:45. | :24:48. | |
the industry and clearly they are responding to that by allowing them | :24:49. | :24:50. | |
time off to protest. Quick story from which many cinemagoers may have | :24:51. | :24:59. | |
noticed, you can't make movies without China, the message from | :25:00. | :25:04. | |
Hollywood. The money that comes from China and potential audience. | :25:05. | :25:07. | |
Indeed, that is the thing, when we have a big budget premier it's not | :25:08. | :25:10. | |
just about the numbers we're looking at for the US opening but also how | :25:11. | :25:14. | |
it opens in China. Clearly there is that new global franchise of viewers | :25:15. | :25:18. | |
being opened up. The Chinese investor isn't just about putting | :25:19. | :25:22. | |
money into the business but also looking at really entrenching | :25:23. | :25:24. | |
themselves firmly in the industry and providing a real window into the | :25:25. | :25:32. | |
Chinese culture and the Chinese process. Jeremy, thank you for | :25:33. | :25:34. | |
coming in and joining us this morning. Another momentous day. | :25:35. | :25:40. | |
The start of a big and busy campaign Trail, I am sure. We will keep you | :25:41. | :25:46. | |
across the details from Westminster. That is it from Business Live, back | :25:47. | :25:50. | |
here at the same time same place tomorrow. Bye bye. | :25:51. | :26:07. | |
Hi, we're looking at are mainly dry day of weather today but the amount | :26:08. | :26:12. | |
of sunshine and you get will vary from place to place. High pressure | :26:13. | :26:16. | |
in charge but we have this week whether from | :26:17. | :26:17. |