Browse content similar to 26/04/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Aaron | :00:00. | :00:00. | |
He's promising a big announcement on taxes today. | :00:07. | :00:14. | |
But can President Trump really make good on his ambitious | :00:15. | :00:16. | |
Live from London, that's our top story on Wednesday, 26th April. | :00:17. | :00:39. | |
Mr Trump has promised a "phenomenal" tax plan. | :00:40. | :00:44. | |
He'll unveil the details in just a few hours time. | :00:45. | :00:47. | |
Also in the programme, paying the price for regional | :00:48. | :00:50. | |
The South Korean carmaker Hyundai sees profits plunge as sales | :00:51. | :00:56. | |
And as always we'll take you through the markets, | :00:57. | :01:07. | |
but right now, investors focused on just two things - | :01:08. | :01:09. | |
Trump's tax cuts and those French elections. | :01:10. | :01:11. | |
Riding the wave of the foodie revolution. | :01:12. | :01:13. | |
Celebrity chef Mark Hix will be with us to talk, food, | :01:14. | :01:15. | |
Today, we want to know is cash your king? | :01:16. | :01:19. | |
A survey says a third of us would rather pay digitally, | :01:20. | :01:22. | |
do you still carry cash or is contactless the future? | :01:23. | :01:24. | |
Let us know. Just use the hashtag BBCBizLive. | :01:25. | :01:40. | |
Cash, Rachel. Always carry that with you. I shouldn't say that. I don't | :01:41. | :01:45. | |
have any cash on me! Shaking up the tax system | :01:46. | :01:48. | |
has been a major theme Today he's promising what he | :01:49. | :01:51. | |
describes as "a big announcement" In fact, Mr Trump has already said | :01:52. | :01:55. | |
he's planning what he's called "maybe the biggest tax | :01:56. | :02:07. | |
cut we've ever had". During the campaign | :02:08. | :02:09. | |
he talked about cutting the top individual tax rate | :02:10. | :02:14. | |
from 36.9% to 25%. In terms of business, | :02:15. | :02:16. | |
he wants to cut the corporate tax Mr Trump has also proposed charging | :02:17. | :02:20. | |
American firms a one-off tax of just 10% on money they bring back | :02:21. | :02:37. | |
to the US from overseas. He has also pledged to simplify | :02:38. | :02:50. | |
the overall tax system. But can he turn all | :02:51. | :02:53. | |
this into legislation? After all, he's failed to deliver | :02:54. | :02:59. | |
on other key policy objectives, like health care reform | :03:00. | :03:02. | |
and an extensive travel ban. Arnab Das, Head of Emerging | :03:03. | :03:06. | |
Markets Macro Research, Thank you very much for coming in | :03:07. | :03:17. | |
this morning. I guess the first question is, can America afford this | :03:18. | :03:21. | |
tax cut? Well, I think that's the key question, right. How are they | :03:22. | :03:26. | |
going to pay for this massive great tax cut in the corporate tax rate in | :03:27. | :03:29. | |
particular. I think if we step back, you have a lot of actors, most of | :03:30. | :03:34. | |
them agree that there needs to be tax reform. Nobody really agrees on | :03:35. | :03:37. | |
how they're going to do it. Nor how they're going to finance it, how to | :03:38. | :03:42. | |
fund this massive tax cut. That's where the rubber is going to meet | :03:43. | :03:46. | |
the road and that's where we're going to see a lot of give-and-take. | :03:47. | :03:50. | |
We will probably end up with a moderate tax cut rather than a big | :03:51. | :03:54. | |
picture, big package comprehensive tax reform through the negotiation | :03:55. | :03:58. | |
process. Everybody agrees there needs to be some sort of tax reform. | :03:59. | :04:05. | |
What that tax reform is hopefully we will find out over the coming days | :04:06. | :04:09. | |
and weeks. Who is going to benefit? Will it the be the wealthy elite, | :04:10. | :04:14. | |
the big corporations? I'm assuming this needs to be about the whole | :04:15. | :04:18. | |
economy? That's the president's plan and the administration's desire is | :04:19. | :04:21. | |
to, you know, jump start investment and thereby create a lot of jobs and | :04:22. | :04:27. | |
invest in America, hire American and buy American. I think in the end we | :04:28. | :04:32. | |
are in a much more interlinked economy than all of that. So I think | :04:33. | :04:36. | |
probably a mix of things will happen and some money will be coming back | :04:37. | :04:40. | |
on shore. Some money is going to be invested. Some of it is going to go | :04:41. | :04:44. | |
to shareholders. Some of it will go to shareholders generally across the | :04:45. | :04:47. | |
economy. Some of it will go to the elite and some of it will be | :04:48. | :04:51. | |
invested in the rest of the world. You say some of it is going back to | :04:52. | :04:57. | |
the showeders. If we talk about the repatriation, there is billions | :04:58. | :04:59. | |
sitting off-shore, but they have done this once before, 2004 and | :05:00. | :05:03. | |
Fife, back then, it was $250 billion, I was talking to an expert | :05:04. | :05:09. | |
this morning, who said, a study showed that back then, 96 cents out | :05:10. | :05:15. | |
of every $1 that came back to America ended up in the pockets of | :05:16. | :05:20. | |
the investors or share buy backs. It didn't go out into the economy for | :05:21. | :05:23. | |
infrastructure or things like that? No, that's right. Part of the logic | :05:24. | :05:31. | |
of President Trump's plan is to do a comprehensive tax reform and make it | :05:32. | :05:36. | |
permanent. Also to deregulate the economy and make the US much more | :05:37. | :05:43. | |
attractive as a place to invest. That's the idea that they're aiming | :05:44. | :05:47. | |
for. Some of this will come through. I think on the amounts of money and | :05:48. | :05:52. | |
how much will go to shareholders, it is hard to tell at this stage. We | :05:53. | :05:58. | |
are looking at 2.5 to $3 trillion that's held off-shorement some | :05:59. | :06:02. | |
estimates suggest if it is a good tax reform and it's permanent you | :06:03. | :06:05. | |
can see something like $1 trillion coming back on shore. How much of | :06:06. | :06:08. | |
that will be invested rather than paid out to shareholders? Well, that | :06:09. | :06:11. | |
depends on deregulation and a host of other things. I think it is early | :06:12. | :06:16. | |
days yet. Yeah, it is. I'm sure we'll keep talking about it for a | :06:17. | :06:17. | |
long time. Thank you very much. Let's take a look at some of | :06:18. | :06:21. | |
the other stories making the news. Singapore has retained its crown | :06:22. | :06:24. | |
as the maritime capital of the world, according | :06:25. | :06:31. | |
to a respected bi-annual ranking. The Asian city topped the tables | :06:32. | :06:33. | |
followed by Hamburg, Oslo, Shanghai and London, | :06:34. | :06:37. | |
according to the International Shares in McDonalds jumped | :06:38. | :06:39. | |
by more than 5% in US trade after the fast food giant reported | :06:40. | :06:47. | |
better than expected figures for the first three | :06:48. | :06:55. | |
months of this year. Maccy Dee's pocketed | :06:56. | :06:57. | |
a profit of $1.2 billion. That's an increase of 8% compared | :06:58. | :07:00. | |
to same period a year ago. The 60-year-old chain has undergone | :07:01. | :07:03. | |
a revamp, slashing costs, shutting down outlets that weren't | :07:04. | :07:05. | |
performing, and introducing The US firm Coca-Cola has said it | :07:06. | :07:10. | |
will cut about 1,200 jobs due to falling demand | :07:11. | :07:16. | |
for its fizzy drinks. Its global drink sales fell 1% | :07:17. | :07:18. | |
in the quarter to 31st March. The bulk of the redundancies will be | :07:19. | :07:24. | |
in Atlanta where it has The firm has more than 100,000 | :07:25. | :07:27. | |
employees around the world. Guess what, Aaron? We're still | :07:28. | :07:51. | |
buying cars! We're going to talk about Hyundai in | :07:52. | :08:03. | |
a minute. This is record sales in the first quarter for Daimler! | :08:04. | :08:12. | |
I was going to talk about this drink that I have no idea about, but you | :08:13. | :08:14. | |
do? Vinto. South Korea's Hyundai Motor posts | :08:15. | :08:18. | |
a 21% fall in first quarter profit South Korean car maker Hyundai has | :08:19. | :08:20. | |
seen regional tensions take a big Leisha Chi is in our | :08:21. | :08:30. | |
Asia Business Hub. China wants to, I guess, show its | :08:31. | :08:36. | |
might, you got problems as a car maker. You've got problems if you've | :08:37. | :08:41. | |
got problems with China so to speak. Exactly, Aaron. China is flexing its | :08:42. | :08:46. | |
muscle and it hurts the bottom line. This is a very good example of how | :08:47. | :08:53. | |
political problems can spill over to affect companies like Hyundai. | :08:54. | :08:58. | |
They've reported a 21% drop in quarterly profit. They are rating $1 | :08:59. | :09:03. | |
billion. This is due to a costly recall in the US over defective | :09:04. | :09:06. | |
engines, but the main reason is due to these political tensions with | :09:07. | :09:12. | |
China, its biggest market. It stems from this controversial US missile | :09:13. | :09:16. | |
defence system called Thud. As we have been reporting today, Korea is | :09:17. | :09:20. | |
hosting this defence system, but China opposes it and as a result we | :09:21. | :09:25. | |
have seen consumers shunning the brand and even allegedly defacing | :09:26. | :09:30. | |
cars this year because of anger over the issue. Wow. That's great. I've | :09:31. | :09:35. | |
got my teeth in. Thank you for that update. | :09:36. | :09:38. | |
I'm going to stay with the markets though. | :09:39. | :09:44. | |
Asian stocks continued gaining for the fifth straight day in fact. | :09:45. | :09:48. | |
Wall Street is up and continues to be up. | :09:49. | :09:52. | |
All of this because of the renewed optimism | :09:53. | :09:58. | |
about the world's biggest economy, the US. | :09:59. | :10:03. | |
And yes, huge hopes for these Trump tax cuts. | :10:04. | :10:05. | |
If we talk about Europe it's a similar story, | :10:06. | :10:09. | |
all eyes looking towards the US, but also the French | :10:10. | :10:13. | |
elections on Sunday, continuing to give the single | :10:14. | :10:15. | |
currency a boost as well as the markets. | :10:16. | :10:25. | |
Let's find out more, here she is, here's Samira. | :10:26. | :10:32. | |
Among the many companies reporting will be Twitter and PayPal. | :10:33. | :10:39. | |
Twitter has been losing advertisers to competition | :10:40. | :10:41. | |
It's trying to use a new formula that will attract both new users | :10:42. | :10:51. | |
and advertisers but until then, Twitter's earnings | :10:52. | :10:52. | |
PayPal has been facing some stiffer competition from start-ups | :10:53. | :10:59. | |
like Venmo, but it's still been able to add more customers and process | :11:00. | :11:02. | |
Now, investors will focus on PayPal's forecasts | :11:03. | :11:07. | |
for the coming quarter and outside of earnings, | :11:08. | :11:09. | |
Congress will be holding a hearing on a bill that would drastically | :11:10. | :11:12. | |
overhaul the way the US government to regulate the financial sector. | :11:13. | :11:17. | |
Specifically, the bill will eliminate a big part of Dodd-Frank, | :11:18. | :11:21. | |
the financial rules put in place by the Obama administration | :11:22. | :11:23. | |
James Hughes, Chief Market Analyst, at GKFX joins us now. | :11:24. | :11:33. | |
Thank you for coming in. No problem. Donald Trump, tax reforms. Yes. How | :11:34. | :11:39. | |
are the markets feeling? Well, we have been waiting long enough for | :11:40. | :11:42. | |
Donald Trump to say something about tax. From a market point of view, | :11:43. | :11:46. | |
that's the only bit we really cared about. We didn't care about the | :11:47. | :11:49. | |
immigration point from a market point of view. The health care, | :11:50. | :11:52. | |
apart from the health care stocks, it didn't give it too much to go on. | :11:53. | :11:56. | |
It's the tax reforms which were going to be the big thing and he has | :11:57. | :12:00. | |
been front running this for a long time that the worry you get is that, | :12:01. | :12:03. | |
there is so much now based on this and put around this that if it | :12:04. | :12:07. | |
disappoints the market we could see an extension that down side that | :12:08. | :12:11. | |
we're already seeing in the markets. We're already seeing the US dollar | :12:12. | :12:15. | |
falling. The US markets in terms of the Dow, the S and P, they have been | :12:16. | :12:19. | |
moving higher. We are in earnings season and that's what helps that to | :12:20. | :12:23. | |
push higher sometimes, but if this is that little bit disappointing in | :12:24. | :12:27. | |
terms of the tax reform and we don't know what he's going to say like | :12:28. | :12:30. | |
anything Donald Trump, we don't know what he's going to say. If that | :12:31. | :12:34. | |
disappoints us, we could see some down side in those US markets and | :12:35. | :12:40. | |
that's the bit that worries us. We put so much impetus into it. And | :12:41. | :12:44. | |
what would disappoint? Just not enough detail. A watered down... | :12:45. | :12:48. | |
Yes. It could be likely. We won't get detail. We know that. We won't | :12:49. | :12:53. | |
get too much detail. He will say I'm going to do the tax reforms. They're | :12:54. | :12:59. | |
going to be massive. There will be numbers. If the numbers aren't as | :13:00. | :13:03. | |
big as we expect them to be which is very much likely to be the case then | :13:04. | :13:06. | |
we see down side in the market because it is another bit of Donald | :13:07. | :13:11. | |
Trump's first 100 day that is disappoints the markets. | :13:12. | :13:18. | |
The French elections. Are the markets - I think the markets are | :13:19. | :13:22. | |
ahead of themselves. Are they ruling out Marine Le Pen? It is like it's a | :13:23. | :13:26. | |
done deal. That's a very, very worrying place to be for the market. | :13:27. | :13:31. | |
The euro rallied strongly because everyone thinks Emmanuel Macron has | :13:32. | :13:35. | |
done it by getting through that first round with Marine Le Pen, but | :13:36. | :13:39. | |
I don't think that's the case. It could well be. | :13:40. | :13:42. | |
James, we will have you back to talk about the papers. And do you carry | :13:43. | :13:46. | |
cash? No. I haven't got any cash, that's why! | :13:47. | :13:49. | |
LAUGHTER He's lying, you know that. | :13:50. | :13:55. | |
I saw him with a wheelbarrow full of it the other day. | :13:56. | :14:00. | |
We have got lots of tweets and can do we have the time now or not? | :14:01. | :14:05. | |
Yeah, OK, thank you. I like to talk to the gallery, that's all. A viewer | :14:06. | :14:10. | |
says, "I pay small businesses in cash so they don't have to pay | :14:11. | :14:17. | |
credit card charges." Somebody says, "I have got a ?10 note in my wallet | :14:18. | :14:23. | |
in case systems go down, but 99% of the time it's contactless all the | :14:24. | :14:28. | |
way." I like reading my online statement, it is nothing, but coffee | :14:29. | :14:34. | |
shops and pubs. You do stuff on your phone... It is too techie. | :14:35. | :14:38. | |
The foodie revolution is shaking up the restaurant business, | :14:39. | :14:43. | |
we'll get the lowdown from celebrity chef Mark Hix. | :14:44. | :14:45. | |
You're with Business Live from BBC News. | :14:46. | :14:58. | |
Challenger bank Metro has reported a 33% growth in underlying profits | :14:59. | :15:03. | |
The high street bank also increased deposits by ?1.1 billion. | :15:04. | :15:13. | |
Theo Leggett is in our Business Newsroom. | :15:14. | :15:17. | |
This is pretty stellar numbers, stellar performance from little old | :15:18. | :15:22. | |
Metro. Pretty good numbers, you are right. But don't forget, this is | :15:23. | :15:28. | |
still a very small bank. Metro Bank was only set up in 2010, as a | :15:29. | :15:32. | |
challenger to the big high street lenders one day and it is doing | :15:33. | :15:36. | |
pretty well at the. It's managed to it increased its profits, third | :15:37. | :15:41. | |
successive quarter of increased profits. We're used to seeing high | :15:42. | :15:45. | |
street lenders reporting profit in billions, this is small, only 50 | :15:46. | :15:48. | |
branches. It wants to create another ten over the next year. Look at the | :15:49. | :15:53. | |
share price. Investors don't quite know what to make at this moment. | :15:54. | :15:59. | |
Reasonably good numbers but also other things you need to look at. | :16:00. | :16:03. | |
For example, the level of deposits has gone up very rapidly, they have | :16:04. | :16:07. | |
increased by more than ?1 billion over the last quarter, lending | :16:08. | :16:10. | |
hasn't increased quite the same rate. For a bank that is trying to | :16:11. | :16:15. | |
grow, trying to build its presence in the market, some analysts say | :16:16. | :16:18. | |
that could be a pointer to a worry in future but we will give them the | :16:19. | :16:21. | |
benefit of the doubt. We will say these are positive numbers so far. | :16:22. | :16:26. | |
The dogs! Talk about them dogs! Bring your dog in! It's a unique | :16:27. | :16:33. | |
quirky little banks, isn't it? I drive by the branches and they are | :16:34. | :16:40. | |
flash, the dogs, open seven days a week, customer friendly, apparently. | :16:41. | :16:44. | |
Certainly if you've got a dog. They are trying to be a disruptive bank, | :16:45. | :16:47. | |
they are trying to do things differently from other banks and | :16:48. | :16:52. | |
that includes relying, to a great extent, and having branches where | :16:53. | :16:54. | |
people can go in and speak to their banker. You know as well as I do | :16:55. | :17:00. | |
that most banks are moving away from that model, they have hundreds of | :17:01. | :17:03. | |
branches but they are closing them because they think people would | :17:04. | :17:07. | |
rather do their banking online. For the bank it is cheaper to provide | :17:08. | :17:11. | |
services online. Metro Bank says that is the wrong way to go, they | :17:12. | :17:14. | |
can embrace new technologies and they will have those branches where | :17:15. | :17:17. | |
you can bring in your dog and they provide dog biscuits. Good on you, | :17:18. | :17:22. | |
we will talk to you soon. Pretty good customer service. I will | :17:23. | :17:27. | |
switch! Do it. Metro, if you are listening, I want to switch, I don't | :17:28. | :17:29. | |
have a dog but I will switch. You're watching Business Live, | :17:30. | :17:38. | |
our top story: President Trump is getting | :17:39. | :17:39. | |
ready to make a major He's already pledged to simplify | :17:40. | :17:41. | |
the system and cut tax rates for some individuals | :17:42. | :17:46. | |
and for corporations. A quick look at how | :17:47. | :17:51. | |
markets are faring. Trump, tax and the French election, | :17:52. | :17:57. | |
let's move on. And now let's get the inside track | :17:58. | :17:59. | |
on the world of celebrity chefs It's a competitve business, | :18:00. | :18:02. | |
where there's big pressure to constantly come up with new ideas | :18:03. | :18:05. | |
to help you stand out Mark Hix started off in the staff | :18:06. | :18:08. | |
canteen at London's Hilton hotel but now has nine top restaurants | :18:09. | :18:12. | |
of his own including this one, One of their unique selling | :18:13. | :18:15. | |
points is the art that Damien Hirst is perhaps the biggest | :18:16. | :18:21. | |
name he's partnered with. Joining us now is the well known | :18:22. | :18:31. | |
restauranteur and chef, Mark Hix. Welcome, thank you for coming in. | :18:32. | :18:40. | |
Did you bring any food? That's it? Nothing! Thanks! When it comes to | :18:41. | :18:46. | |
restaurants, it is one of those sectors that we hear there's always | :18:47. | :18:49. | |
a lot of turnover. Restaurant is open and close, how do you make your | :18:50. | :18:54. | |
money in restaurants? It is a good question. Some restaurants, for | :18:55. | :18:58. | |
example my third restaurant in Soho, I kind of acquired because the | :18:59. | :19:03. | |
previous business went bust. There are various ways that you can, you | :19:04. | :19:06. | |
know, get a restaurant. That was fortunate for me. But you've got to | :19:07. | :19:12. | |
keep it running and you've got to keep the tills... Exactly, there are | :19:13. | :19:15. | |
various ways to get investment, you can get an angel investor, you can | :19:16. | :19:19. | |
go to the bank. Someone that fancies dabbling in the restaurant business, | :19:20. | :19:23. | |
not always a good idea. It is tough. Once you have the investment, in | :19:24. | :19:26. | |
terms of keeping the profits up, it seems to be difficult business to | :19:27. | :19:30. | |
continue to be successful in. It is always about the top line, the | :19:31. | :19:35. | |
turnover. That doesn't always, depending on business, equate to how | :19:36. | :19:40. | |
good the bottom line is. But that is the same with all businesses. You | :19:41. | :19:44. | |
have to constantly be reinventing yourself, keeping things fresh. Hix | :19:45. | :19:50. | |
Soho, we are doing a revamp at the moment. I got some funding from a | :19:51. | :19:57. | |
business called WSH, I was a consultant for them for the last six | :19:58. | :20:01. | |
years. We just had a bit of a makeover. In fact, Soho has changed | :20:02. | :20:10. | |
over the years. Hix Soho was 50% meat, 50% meat and now we are 80% | :20:11. | :20:16. | |
fish because in Soho, there's not really any decent fish restaurants. | :20:17. | :20:19. | |
I have just switched. Finding your niche. And being flexible. While you | :20:20. | :20:25. | |
were talking, we were showing some of the artwork. That whole art | :20:26. | :20:31. | |
thing, is it a bit gimmicky? People what to eat your food. Is it really | :20:32. | :20:36. | |
about what surrounds them? A lot of people come to the restaurant with | :20:37. | :20:42. | |
interest to the art. I get asked dealers, gallery owners, we host a | :20:43. | :20:46. | |
lot of at parties. If you want to decorate your restaurant, you can go | :20:47. | :20:50. | |
shopping for art, not know anything about the artwork itself but what I | :20:51. | :20:53. | |
try to do is have a relationship with the artist. All the work in the | :20:54. | :20:58. | |
restaurant is commissioned specifically for the restaurant. | :20:59. | :21:00. | |
Like the Damien Hirst cow for example. Yeah stop that tank of the | :21:01. | :21:06. | |
mother Howard is chicken and stay, what is the many -- that tank of | :21:07. | :21:12. | |
formaldehyde is basically. We talked about a cashless society. For the in | :21:13. | :21:17. | |
your restaurants, what is it? Or credit cards. We don't do | :21:18. | :21:22. | |
contactless. You very rarely see cash coming through. -- they are all | :21:23. | :21:30. | |
credit cards. If you Perry AMEX all these... Would you stop taking cash? | :21:31. | :21:35. | |
Some cafes and restaurants were stealing cash at all. That a tricky | :21:36. | :21:38. | |
one. Especially in a restaurant business. Because, tips, that kind | :21:39. | :21:43. | |
of stuff, people still leave cash tips. You very rarely see people | :21:44. | :21:49. | |
actually paying by cash. It's always a bit suspicious if someone pays by | :21:50. | :21:54. | |
cash! LAUGHTER Exactly when I pay with cash people | :21:55. | :21:59. | |
think what is going on. Crisp ?50 note! It would be remiss of me, to | :22:00. | :22:03. | |
talk about Brexit, but I am curious about your point on this. There is a | :22:04. | :22:08. | |
lot of worry in the industry, your industry, about staffing if they | :22:09. | :22:12. | |
bring in these immigration controls, free movement controls. It could | :22:13. | :22:19. | |
have an impact on you, you are a big local producer, using local produce. | :22:20. | :22:23. | |
I get asked that question a lot. People phoned me for interviews | :22:24. | :22:26. | |
about staffing but it hasn't really affected us. Staffing levels are | :22:27. | :22:34. | |
good. They are still sparse because lots of restaurants and hotels are | :22:35. | :22:38. | |
opening. You use a lot of foreign staff. We do. It is about 50-50, I | :22:39. | :22:43. | |
would say. That doesn't mean that because you are using imported | :22:44. | :22:47. | |
staff, if you like, that the quality goes down. Because a lot of staff | :22:48. | :22:51. | |
from Eastern Europe, for example, are as good as the British. It has | :22:52. | :22:57. | |
to become a part of your restaurant equation if you like. Thank you for | :22:58. | :23:03. | |
joining us. Nobody told you, but we like props on this programme! Props, | :23:04. | :23:09. | |
as a restaurant, that means food, a bit breakfast! . Or Brexit. Very | :23:10. | :23:13. | |
good. Here on the show we like to hear | :23:14. | :23:22. | |
from you - here's a reminder of how Stay ahead with the breaking | :23:23. | :23:29. | |
business news, we keep you up-to-date with the latest business | :23:30. | :23:31. | |
with insight and analysis from the BBC's team of editors right around | :23:32. | :23:34. | |
the world. We want to hear from you. Get involved on the BBC business | :23:35. | :23:36. | |
live web page. On TV and online, whenever you need | :23:37. | :23:43. | |
to know. James Hughes, Chief Market Analyst, | :23:44. | :23:51. | |
at GKFX joins us now. You have returned. We will kick off | :23:52. | :24:01. | |
with another difficult PR story for United. What was on course to be the | :24:02. | :24:08. | |
world's largest rabbit, Simon, unfortunately has died on a flight | :24:09. | :24:19. | |
on United Airlines going to O'Hare airport, the same place they have | :24:20. | :24:25. | |
the issues before. This is a story about a giant rabbit dying on an | :24:26. | :24:32. | |
aeroplane. That's not necessarily him! He is bigger! That is him. It | :24:33. | :24:37. | |
is a picture of him. Simon the rabbit was flying to O'Hare? You | :24:38. | :24:44. | |
couldn't write this! No. Supposedly he was checked out beforehand and he | :24:45. | :24:48. | |
was absolutely fine but the biggest problem if it is another scandal for | :24:49. | :24:51. | |
United airlines who are struggling with scandals ever since previously | :24:52. | :24:55. | |
the passenger being dragged off because of an overbooked flight. It | :24:56. | :25:00. | |
is just... Unfortunate because it is perhaps not even United fault. | :25:01. | :25:05. | |
Animals do die on trips. Don't like me like that! They do. 100,000 | :25:06. | :25:10. | |
animals fly during the day and the numbers were 17 last year. Nine of | :25:11. | :25:16. | |
them on United. That's true. I wonder if the CEO is eating rabbit | :25:17. | :25:23. | |
stew! A lot of it. He was a big old rabbit. Cashless society, is that | :25:24. | :25:27. | |
where we are going? It is interesting. Mark was saying | :25:28. | :25:32. | |
previously about... You do need cash for various different things. If you | :25:33. | :25:37. | |
look at different points like parking meters or kids taking money | :25:38. | :25:41. | |
into school for something or if you tip in a restaurant something like | :25:42. | :25:44. | |
that, we need cash for those sorts of things but if you look at this | :25:45. | :25:47. | |
poll, actually in the UK, the numbers were lower than they were in | :25:48. | :25:51. | |
the rest of Europe. As to how many people use cashless. Good on you, | :25:52. | :25:55. | |
mate, short and sweet, sorry, we've got to go. | :25:56. | :25:56. | |
There will be more business news throughout the day on the BBC Live | :25:57. | :26:01. | |
web page and on World Business Report. | :26:02. | :26:03. |