Browse content similar to 03/05/2017. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
This is Business Live from BBC News with Sally Bundock and Ben Thompson. | :00:00. | :00:09. | |
A surprise fall in iPhone sales takes a bite out of Apple's share | :00:10. | :00:13. | |
price as customers wait for the tenth anniversary upgrade. | :00:14. | :00:18. | |
Live from London, that's our top story on Wednesday, 3rd May. | :00:19. | :00:33. | |
The world's most valuable company saw another whopping rise | :00:34. | :00:37. | |
in revenues as services like iTunes grew but tough competition in China | :00:38. | :00:41. | |
We'll get an expert view on the latest numbers from Apple. | :00:42. | :00:51. | |
The biggest slice of Germany's biggest bank | :00:52. | :00:55. | |
But will it make any difference to Deutsche Bank's problems? | :00:56. | :01:08. | |
The FTSE is down. The size of the divorce bill has | :01:09. | :01:18. | |
investors worried and we'll explain why. | :01:19. | :01:21. | |
And how do you fancy dinner with a stranger? | :01:22. | :01:24. | |
No, we're not talking about a first date, but a new app that promises | :01:25. | :01:27. | |
to serve up a local, authentic home-cooked dinner | :01:28. | :01:29. | |
And so today we want to know if Sally or I nipped | :01:30. | :01:35. | |
round to your place, what would you make us? | :01:36. | :01:37. | |
Let us know. Use the hashtag BBCBizLive. | :01:38. | :01:47. | |
Send in your invitations. We'd love to come round for dinner sometime! | :01:48. | :02:02. | |
Apple is the world's most valuable company and it made another huge | :02:03. | :02:05. | |
profit in the first three months of the year. | :02:06. | :02:07. | |
The California based giant sold just under$ 53 billion worth of products | :02:08. | :02:17. | |
as it continues to dominate the smartphone market. | :02:18. | :02:24. | |
But surprisingly iPhone sales actually fell by 1% | :02:25. | :02:29. | |
mainly because customers are holding off purchases while waiting | :02:30. | :02:31. | |
for the tenth anniversary model expected this autumn. | :02:32. | :02:33. | |
They still sold over 50 million of them though including | :02:34. | :02:38. | |
more of their expensive 7 Plus smartphone. | :02:39. | :02:46. | |
Apple shares were down 2% in after hours trading, | :02:47. | :02:48. | |
but that is a mere blip if we look at the stock's long | :02:49. | :02:51. | |
You can see here how Apple's share price has been rising over the last | :02:52. | :02:56. | |
It hit a record high of $147.51 just ahead of this | :02:57. | :03:01. | |
trading update making the company worth a whopping $773 billion. | :03:02. | :03:08. | |
Over the last year alone there has been an increase of more than 60% | :03:09. | :03:12. | |
this is partly because during that time iPhone sales have gone up. | :03:13. | :03:20. | |
But also because investors are betting that if Apple brings back | :03:21. | :03:23. | |
to the US its huge cash reserve that now tops $250 billion, | :03:24. | :03:27. | |
Iphones are, of course, Apple's best selling | :03:28. | :03:36. | |
product but services are the second biggest part | :03:37. | :03:38. | |
That includes App Store downloads, Apple Pay and Apple Music | :03:39. | :03:41. | |
and they are now worth 13% of total revenues. | :03:42. | :03:47. | |
Let's talk in more detail about what it means. | :03:48. | :03:50. | |
Gareth Holmes is Managing Director for Europe, the Middle East | :03:51. | :03:52. | |
and Africa at Sonobi which is an advertising | :03:53. | :03:54. | |
Welcome to the programme. Thank you. Sally running through all the | :03:55. | :04:00. | |
numbers. I wonder what was the stand out thing for you. What's surprising | :04:01. | :04:04. | |
about the figures? The continued growth. Some say it is a rapid | :04:05. | :04:09. | |
growth. I think it is indicative of the general success we're seeing of | :04:10. | :04:12. | |
the technology industry. The softening in China is fascinating. | :04:13. | :04:18. | |
It looked early that they were looking strong, late 14, early 15. | :04:19. | :04:22. | |
However, that seems to have softened somewhat and they have met the head | :04:23. | :04:29. | |
China. They are local manufacturers China. They are local manufacturers | :04:30. | :04:36. | |
and they are retaining shares. We see Apple continue to strengthen | :04:37. | :04:40. | |
whilst facing a head wind in China. You look at this very much from a | :04:41. | :04:43. | |
technology point of view in term of what Apple knows about us and how it | :04:44. | :04:48. | |
will determine what they make for us in future and it is a fascinating | :04:49. | :04:51. | |
journey. All the information that I provide by using devices, they are | :04:52. | :04:54. | |
using all of that to determine what I'll buy five or ten years from now? | :04:55. | :04:59. | |
Yeah, it is also what you'll buy, but where we as a species are going, | :05:00. | :05:04. | |
they're understanding what our consumption habits are. They realise | :05:05. | :05:08. | |
whilst they produce hardware they produce a software that we interact | :05:09. | :05:13. | |
with on a daily basis. They are looking at the experienceal side of | :05:14. | :05:17. | |
what we do. It is a smartphone also, but as humans, as a species, where | :05:18. | :05:22. | |
are we going? So Apple are innovating and they're meeting what | :05:23. | :05:26. | |
we need at the moment, but they are setting that expectation what's | :05:27. | :05:30. | |
coming next for Apple? That expectation is so important, the | :05:31. | :05:32. | |
idea that people are hanging on, they are not really convinced that | :05:33. | :05:36. | |
what Apple is offering is revolutionary enough to upgrade so | :05:37. | :05:40. | |
they won't change their phone yet so they have got to pull something | :05:41. | :05:43. | |
drastic out of the bag to persuade us to part with money to buy the | :05:44. | :05:47. | |
next one? They have certainly made a rod for their own back and they have | :05:48. | :05:52. | |
commented themselves upon that. They have seen strong upgrades for | :05:53. | :05:56. | |
existing Apple users upgrading to the new phone, they have seen strong | :05:57. | :06:00. | |
transition from other smartphones into themselves, so what will be | :06:01. | :06:05. | |
next? I think, we are waiting on what's the next phone coming out on | :06:06. | :06:09. | |
an annual basis? For Apple they manage to do that themselves, don't | :06:10. | :06:13. | |
they? They change our behaviour, they are making us want things we | :06:14. | :06:17. | |
don't know that we want? Correct. The important thing to realise | :06:18. | :06:23. | |
people too and they are broad, people too and they are broad, | :06:24. | :06:26. | |
diverse types of people so they understand where we're going and | :06:27. | :06:30. | |
what we want. From a research and innovation prospective, they're | :06:31. | :06:34. | |
right on the money. They have us on tenterhooks. What's next shall we | :06:35. | :06:40. | |
take a new upgrade for wait for the 10? Gareth, thank you. | :06:41. | :06:45. | |
The world's biggest carmaker Volkswagen has seen a massive jump | :06:46. | :06:47. | |
in profits for the first three months of this year. | :06:48. | :06:53. | |
The company made $4.77 billion which is 40% more than a year ago. | :06:54. | :07:01. | |
The chief executive says cost-cutting and greater | :07:02. | :07:06. | |
efficiencies have been driven the improvement. | :07:07. | :07:08. | |
But the diesel emission scandal also continues | :07:09. | :07:09. | |
So far it has cost more than $20 billion. | :07:10. | :07:23. | |
You've got 15 days to express your interest says | :07:24. | :07:27. | |
Italy's Industry Minister this morning. | :07:28. | :07:29. | |
The troubled flagship airline is in administration | :07:30. | :07:30. | |
after the Italian government formally approved the move. | :07:31. | :07:32. | |
The company said its flight schedule would continue | :07:33. | :07:34. | |
to operate as planned, while administrators | :07:35. | :07:36. | |
examine whether the firm can be turned around. | :07:37. | :07:38. | |
Alitalia has received more than 7.5 billion euros | :07:39. | :07:40. | |
from the Italian state over the last decade but without further help, | :07:41. | :07:43. | |
Indian IT firm Infosys will hire 10,000 workers and open | :07:44. | :07:49. | |
four technology centres in the United States | :07:50. | :07:52. | |
It comes amid criticism that firms are using lower-paid foreign | :07:53. | :07:56. | |
That's the visa President Trump has told federal agencies to review. | :07:57. | :08:11. | |
More information on the BBC Business Live page. The FTSE opened down this | :08:12. | :08:17. | |
morning. We will look at the markets and look at the impact of sterling | :08:18. | :08:21. | |
on all of that as well. We have seen that rise this morning. Full | :08:22. | :08:25. | |
details, of course, on the website, the BBC Business Live page and | :08:26. | :08:28. | |
dominated as you can see this morning by a UK story, Sainsbury's | :08:29. | :08:32. | |
one of the biggest retailers here in the UK. It's sales are down and | :08:33. | :08:34. | |
profits have fallen. Deutsche Bank is Germany's | :08:35. | :08:38. | |
biggest lender and one of the most important pillars | :08:39. | :08:40. | |
of the international banking system. China's HNA Group has | :08:41. | :08:44. | |
increased its stake to nearly 10%. John, talk us through the | :08:45. | :08:59. | |
significance of this if you would. Well, Deutsche Bank, of course, is a | :09:00. | :09:04. | |
bank looking for cash because of its legacy issues and China's HNA Group | :09:05. | :09:09. | |
is seemingly a company with a lot of money to spend. It has been on an | :09:10. | :09:16. | |
acquisition spree around the world. As you say, it would make it | :09:17. | :09:21. | |
Deutsche Bank's biggest shareholder with something like 10% of shares. | :09:22. | :09:25. | |
So it's great news for Deutsche Bank. What I think is interesting | :09:26. | :09:30. | |
from a Chinese prospective, it is against the trend. 2016 was the | :09:31. | :09:35. | |
bumper year for outward investment, Chinese companies heading off | :09:36. | :09:39. | |
abroad, but the Government has been putting the brakes on out of a fear | :09:40. | :09:45. | |
of a sliding currency, Deutsche Bank is the next one in its sights. | :09:46. | :09:53. | |
Interesting. Thank you John. An unusual day in Asia. Most of the | :09:54. | :09:57. | |
main markets were shut for another Bank Holiday. A midweek one which is | :09:58. | :10:02. | |
unusual. So we had Australia open. You can see down by nearly 1% and | :10:03. | :10:07. | |
Bombay and also this is Wall Street the night before. | :10:08. | :10:13. | |
Europe, in Asia, lilacs on financial minister kets. You can see they are | :10:14. | :10:17. | |
all down slightly at the moment. It is partly about the earnings we have | :10:18. | :10:20. | |
been getting through. Companies like in London for example, Sainsbury's, | :10:21. | :10:24. | |
the big retailer is down 2% at the moment as are other stocks that have | :10:25. | :10:27. | |
come out with disappointing earnings, but there is a little bit | :10:28. | :10:31. | |
of concern about the UK's exit from Europe, how much it will cost, | :10:32. | :10:35. | |
that's causing sterling to wobble, but also as well, Sunday in France. | :10:36. | :10:40. | |
What will the outcome of that be? Political risk is back on the agenda | :10:41. | :10:42. | |
in Europe. Samira Hussain has the details about | :10:43. | :10:43. | |
what's ahead on Wall Street Today. The Federal Reserve will release | :10:44. | :10:47. | |
a statement at the end of their two day meeting on Wednesday where it | :10:48. | :10:50. | |
will release its decision Most people don't expect a hike this | :10:51. | :10:53. | |
time around as the Fed will be looking at the economic data | :10:54. | :10:58. | |
from the first quarter of this year. In other news, social media giant | :10:59. | :11:02. | |
Facebook will be reporting earnings Facebook's mobile ad sales have been | :11:03. | :11:05. | |
soaring and it has been boosting its overall growth, | :11:06. | :11:10. | |
but in November the company warned that ad growth | :11:11. | :11:13. | |
would likely slow meaningfully. And finally, luxury electric car | :11:14. | :11:18. | |
maker Tesla will report earnings. The company said in April that | :11:19. | :11:21. | |
deliveries jumped 69% from a year ago bouncing back | :11:22. | :11:23. | |
from previous delays. The last month Tesla became a bigger | :11:24. | :11:25. | |
car company than the US giant, Ford. Joining us is Richard Dunbar, | :11:26. | :11:38. | |
Investment Director Let's pick up on that theme that | :11:39. | :11:48. | |
Samira was touching on there, we have the raft of the results and the | :11:49. | :11:52. | |
size of the companies is staggering. We talk about what they do to our | :11:53. | :11:57. | |
day-to-day lives, if you look at the value of them, some hefty numbers. | :11:58. | :12:01. | |
Talk us through that? Well, these success of the past ten years and | :12:02. | :12:07. | |
they have led the US stock market up, Facebook,am zorngs Netflix, | :12:08. | :12:10. | |
Microsoft, these are the ones that have been growing and producing the | :12:11. | :12:14. | |
innovative things that we are all using. They have started to bring in | :12:15. | :12:17. | |
profits on the back of that particularly companies like Netflix | :12:18. | :12:20. | |
and Amazon which do a lot of the same, but a lot of the profit. I | :12:21. | :12:24. | |
remember when it listed on the markets and we asked if it would | :12:25. | :12:29. | |
make money? They have managed to bring in millions of customers and | :12:30. | :12:33. | |
they are starting to monetise the customers and getting advertisers to | :12:34. | :12:36. | |
pay to access those customers. We are starting to see profits coming | :12:37. | :12:40. | |
through and cash coming through and the stock markets are describing | :12:41. | :12:44. | |
huge valuations and huge size. From the point of what's going on in | :12:45. | :12:49. | |
markets in trading of these stocks, people are buying the stocks, these | :12:50. | :12:52. | |
particular companies in anticipation that they will be repatriating their | :12:53. | :12:59. | |
cash, that it is growing overseas in the anticipation that President | :13:00. | :13:01. | |
Trump will give them a tax incentive to do that? There is two sides of | :13:02. | :13:06. | |
it. Fur' buying Apple, you are buying a huge cash pile. The | :13:07. | :13:09. | |
management are charged with using that well and with the results | :13:10. | :13:12. | |
yesterday, they said they would return some of the that cash to | :13:13. | :13:15. | |
shareholders. Donald Trump would like to see a lot of that cash | :13:16. | :13:19. | |
sitting in the United States in a lower tax regime and being invested | :13:20. | :13:23. | |
or used to make acquisitions in the United States. Shareholders own that | :13:24. | :13:28. | |
cash and have a vested interest in making sure the cash is used wisely. | :13:29. | :13:32. | |
Let's get back to Brexit. Theresa May pointing out that she will be a | :13:33. | :13:37. | |
bloody difficult woman as far as the negotiations are concerned. We will | :13:38. | :13:40. | |
talk about the implications of that later. What do the markets make of | :13:41. | :13:44. | |
that? The markets would like her to be wise, far-sighted and intelligent | :13:45. | :13:47. | |
in the negotiations as well as being a bloody difficult woman! Over the | :13:48. | :13:51. | |
last couple of days we have seen the complications of what's going on | :13:52. | :13:54. | |
with Brexit... The personalities involved? Exactly. So I think these | :13:55. | :14:00. | |
are early skirmishes. I hope things continue slightly better than we | :14:01. | :14:02. | |
have seen over the past couple of days, but we will see. One to watch. | :14:03. | :14:07. | |
You will be back to talk us through some more stories later. | :14:08. | :14:09. | |
Still to come, fancy dinner with strangers? | :14:10. | :14:13. | |
How about a home-cooked dinner in a foreign city, | :14:14. | :14:15. | |
We meet the woman behind the app that lets you find | :14:16. | :14:24. | |
somewhere to eat, anywhere in the world, | :14:25. | :14:25. | |
You're with Business Live from BBC News. | :14:26. | :14:37. | |
Have a first, though, let's Lingle The Open linger a little longer on | :14:38. | :14:44. | |
this. Supermarket giant Sainsbury's has | :14:45. | :14:45. | |
just announced a 8.2% fall in profits for the year as it warned | :14:46. | :14:48. | |
of a challenging trading market. Recently prices have been falling | :14:49. | :14:51. | |
amid a fierce price war between supermarkets, | :14:52. | :14:53. | |
but a new report this morning suggests prices are now falling | :14:54. | :14:55. | |
at their slowest rate Rachel Lund is from | :14:56. | :14:57. | |
the British Retail Consortium. Rachel, tell us a little bit more | :14:58. | :15:12. | |
about the trend you are seeing in the future. Our data we released | :15:13. | :15:16. | |
today showed that shop prices are down 0.5% on last year. As you said, | :15:17. | :15:20. | |
the lowest rate of deflation to nearly three years. It is clear the | :15:21. | :15:24. | |
underlying cost pressures are finally feeding through into the | :15:25. | :15:28. | |
shop floor. So prices are going to be going up, that is what you are | :15:29. | :15:36. | |
saying? Yes, but we should put it into perspective, not huge price | :15:37. | :15:40. | |
rises. The retailers are increasing far greater increases in costs that | :15:41. | :15:44. | |
are filtering through to the shop floor. And this is the problem, why | :15:45. | :15:48. | |
Sainsbury's is struggling, because they have to pay more for the goods | :15:49. | :15:52. | |
because of the fall in the value of sterling but they cannot pass it on | :15:53. | :16:00. | |
to the customer fully. That is a problem across the industry. | :16:01. | :16:04. | |
Sterling is down 12 or 13% compared to where it was in June. These are | :16:05. | :16:09. | |
big increases in the cost base combined with the impact of the | :16:10. | :16:11. | |
national living wage, the apprenticeship levy, is this rates | :16:12. | :16:15. | |
for evaluation. All of these things are putting massive pressure on | :16:16. | :16:18. | |
retailers cost space. Thank you, Rachel. Prices are on the rise in | :16:19. | :16:26. | |
the shops in the near future. That is a theme on the Business Live | :16:27. | :16:31. | |
page. We have touched on the fact we are talking about Sainsbury's, but | :16:32. | :16:34. | |
ahead of that we have also had a warning of Wetherspoon 's. It echoes | :16:35. | :16:41. | |
the same theme. Wetherspoon 's, the boss is very pro-Brexit but some of | :16:42. | :16:47. | |
the impact of that is a fall in the value of the pound that has made | :16:48. | :16:52. | |
imports more expensive. The firm runs about 900 pubs in the UK and | :16:53. | :16:56. | |
Ireland but says it is expecting this year to be a little bit better. | :16:57. | :17:04. | |
It has reported a 4% rise in like-for-like sales. | :17:05. | :17:17. | |
This is Business Live, the top story, the world's biggest company | :17:18. | :17:24. | |
by market value, Apple, has reported a mixed set of results. There was a | :17:25. | :17:31. | |
surprise fall in iPhone sales force that we have been discussing that, | :17:32. | :17:34. | |
about customers who are maybe hanging on and not upgrading | :17:35. | :17:36. | |
straightaway. That is having an impact on the bottom line for Apple. | :17:37. | :17:39. | |
A quick look at how markets are faring.... | :17:40. | :17:42. | |
In Europe slightly down across the board and the pound wobbling a | :17:43. | :17:48. | |
little. Lots of discussion about how expensive it will be for the UK to | :17:49. | :17:52. | |
leave the European Union in the press today, causing a bit of a | :17:53. | :17:55. | |
headache. We will show you some of those stories later. | :17:56. | :17:57. | |
Now - how do you fancy nipping round to someone's house | :17:58. | :18:00. | |
Something you might do with friends, but what if you've | :18:01. | :18:03. | |
That's the idea of an app that lets you find somewhere to eat - | :18:04. | :18:16. | |
anywhere in the world - cooked by a local. | :18:17. | :18:22. | |
It's just the latest in app to disrupt a traditional market | :18:23. | :18:27. | |
and cash in on the so-called 'sharing economy'. | :18:28. | :18:29. | |
Revenues in the sharing economy are forecast to grow over 20 times | :18:30. | :18:35. | |
times to ?335 billion between 2015 and 2025. | :18:36. | :18:37. | |
One business hoping to benefit from this is Vizeat. | :18:38. | :18:42. | |
The platform allows diners in over 110 countries to connect | :18:43. | :18:44. | |
with locals in order to go to their house to eat. | :18:45. | :18:47. | |
Vizeat currently has over 22,000 hosts and was selected by Apple | :18:48. | :18:50. | |
as one of the top three apps of 2016. | :18:51. | :18:58. | |
She's the co-founder and chief operating officer of VizEat, | :18:59. | :19:02. | |
which lets travelers book food experiences in destinations | :19:03. | :19:04. | |
Good to have you here, Camille. I must admit, I have been looking at | :19:05. | :19:16. | |
your website this morning in research, and I was fascinated by | :19:17. | :19:20. | |
it, looking at all the various posts, the kind of food they cook, | :19:21. | :19:23. | |
what you can expect when you go to their home. So many questions came | :19:24. | :19:27. | |
to mind. To start with, how did you start all of this? You were very | :19:28. | :19:33. | |
young in 2014 when you began this. We started the company in July 20 | :19:34. | :19:39. | |
14. I was living and working in China, in Beijing. I was invited by | :19:40. | :19:45. | |
my Chinese friends to share Chinese New Year and other special occasion | :19:46. | :19:48. | |
dinners with their family and it is the first time I have experienced | :19:49. | :19:52. | |
Chinese culture from the inside. I found it was such a shame to travel | :19:53. | :19:55. | |
to a city where millions of people living but you don't actually meet | :19:56. | :20:01. | |
any them. The perfect moment to meet the Miz around a food experience | :20:02. | :20:09. | |
like a dinner or walking class. So let's say IM in Paris and I decide I | :20:10. | :20:13. | |
want an authentic French meal. What happens then? What if I turn up with | :20:14. | :20:19. | |
Sally's kids and we all arrived on the doorstep and that is not quite | :20:20. | :20:22. | |
what they were expecting? Usually what happens, it is like about | :20:23. | :20:27. | |
meeting someone, you talk to them before you get to their house. They | :20:28. | :20:32. | |
have their profile, so you can imagine the moment, you have | :20:33. | :20:37. | |
pictures sent to the host as well to that the place and the type of food | :20:38. | :20:41. | |
and everything. So you know them before getting there. They will ask | :20:42. | :20:45. | |
a question about your children for example. That is all about meeting | :20:46. | :20:48. | |
new people. The relationship starts before the meal. I understand you | :20:49. | :20:53. | |
have all your ducks in a row, because I was grilling you about | :20:54. | :20:56. | |
that horrible scenario where you go to someone's home, and it turns into | :20:57. | :21:03. | |
something very scary after desert. You have Lloyd's of London to cover | :21:04. | :21:07. | |
you from an insurance point of view, and that is to cover any issues for | :21:08. | :21:13. | |
the host or the dinner guests. Exactly, from the very beginning, | :21:14. | :21:17. | |
the security and it was our top priority. The peace of mind of the | :21:18. | :21:20. | |
guest and the host is key for us. Lloyd's of London covers hosts and | :21:21. | :21:26. | |
guests for the periods up to ?1 million. But we have never called | :21:27. | :21:31. | |
it, it has been more than three years now. But the idea is to show | :21:32. | :21:36. | |
we are doing our best to get all of the host. We have one-to-one | :21:37. | :21:39. | |
interviews with each of them, and we have hosts in the country now and we | :21:40. | :21:46. | |
have never had any problem. It would not be a disruptive at it didn't | :21:47. | :21:49. | |
come with some criticism. I know you got up the noses of some French | :21:50. | :21:53. | |
restaurateurs, and the unions went to happy. How can you persuade | :21:54. | :21:58. | |
people that you are not taking away business, you might be adding to it? | :21:59. | :22:05. | |
It is different because you don't do a VizEat experience when you are | :22:06. | :22:09. | |
hungry, you do it as an activity. It is about meeting locals. They don't | :22:10. | :22:14. | |
do it like five times a week. The idea is to keep this occasional. I | :22:15. | :22:27. | |
would imagine it is a very cultural thing? Exactly, and food culture, in | :22:28. | :22:31. | |
Europe it is our key focus on the main cities are Paris, Barcelona and | :22:32. | :22:36. | |
Rome for now. But we have hosts everywhere, we see in very strongly. | :22:37. | :22:40. | |
We work with London and partners as well to promote London as a food | :22:41. | :22:43. | |
destination and we have lots of things to do on that as well. | :22:44. | :22:49. | |
Camille, really nice to you. She is 27! It is very frustrating when we | :22:50. | :22:54. | |
meet someone who are way more successful than us at a much younger | :22:55. | :22:58. | |
age. She doesn't need the bank of mum and dad. I just want to take you | :22:59. | :23:03. | |
through some tweets. Tom says I have a Nigerian, Italian, Yorkshire | :23:04. | :23:08. | |
family so he is offering a roast dinner with some spice. Has the BBC | :23:09. | :23:18. | |
canteen closed, the presenters are desperately begging for invitations. | :23:19. | :23:26. | |
Still loads more in the programme, stay with us but in the meantime | :23:27. | :23:35. | |
this is how to keep in touch. The Business Live pages where you can | :23:36. | :23:38. | |
stay ahead with all of the breaking news. We will keep you up-to-date | :23:39. | :23:41. | |
with all the latest details, with insight and analysis from the BBC's | :23:42. | :23:45. | |
team of editors ride around the world. And we want to hear from you | :23:46. | :23:49. | |
too. Get involved on the BBC Business Live web page. On Twitter, | :23:50. | :23:57. | |
we are at BBC business. You can find us on Facebook. Richard is back. If | :23:58. | :24:08. | |
I came to your home, what would you cook for dinner? My signature dish | :24:09. | :24:13. | |
would be salmon poached in white wine served with salad. That sounds | :24:14. | :24:19. | |
good. Dinner tonight sorted, thank you, Richard. Let's talk about | :24:20. | :24:24. | |
someone who may not be getting many more dinner invitations. Theresa | :24:25. | :24:27. | |
May, all of the stories that have come out this week of the meeting. | :24:28. | :24:34. | |
Now the headlines say that Juncker will find her a bloody difficult | :24:35. | :24:38. | |
woman, not often we can say that word on the telly but it is relevant | :24:39. | :24:42. | |
here. In the Financial Times on their front page, they have a story | :24:43. | :24:48. | |
about the Brexit bill. How do they work that out? Good question. All | :24:49. | :24:54. | |
analysts are looking at assets between zero and 100 billion and | :24:55. | :24:58. | |
liabilities of zero and 100 billion, and the difference between those two | :24:59. | :25:02. | |
is the figure that one comes up with. A fairly wide range, I suspect | :25:03. | :25:08. | |
some tricky negotiations. How does this line about her becoming a | :25:09. | :25:13. | |
difficult woman play out? Does it suggest you will take a hard line | :25:14. | :25:16. | |
and it gets the UK further advanced in these talks, or actually this | :25:17. | :25:20. | |
puts up a wall and these negotiations become much more | :25:21. | :25:23. | |
difficult than maybe they need to be? I suspect it is the latter but | :25:24. | :25:27. | |
I'm not sure anyone really knows. Some of the noise emanating from the | :25:28. | :25:34. | |
dinner at Downing Street, from Brussels, I'm not sure we have an | :25:35. | :25:41. | |
awful lot of clarity. Still as much uncertainty as there was. Thank you | :25:42. | :25:46. | |
could walking us through that and we will keep an eye on how all of those | :25:47. | :25:49. | |
in this years and is progress. Thank you for your company, have a really | :25:50. | :25:53. | |
lovely day, we will be back tomorrow. | :25:54. | :26:10. | |
A very good morning to you. The weather | :26:11. | :26:12. |