Browse content similar to 10/05/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Rachel Horne and Sally Bundock. | :00:07. | :00:11. | |
The Japanese car-maker Toyota faces a bumpy road ahead as it | :00:12. | :00:14. | |
reports its first fall in profit for five years. | :00:15. | :00:16. | |
Live from London, that's our top story on Wednesday, 10th May. | :00:17. | :00:33. | |
Toyota's profits have fallen by more than a fifth. | :00:34. | :00:43. | |
We'll be live in Tokyo for the latest on the world's second | :00:44. | :00:46. | |
biggest car-maker and we'll get an expert view on what it needs | :00:47. | :00:49. | |
Australia slaps a levy on the country's biggest banks. | :00:50. | :00:54. | |
We'll cross live to Sydney for the latest reaction. | :00:55. | :00:56. | |
And the European markets are open and trading. | :00:57. | :00:58. | |
Also in the programme, we'll be getting the Inside Track | :00:59. | :01:06. | |
on the music business with a veteran of the industry. | :01:07. | :01:08. | |
Later we'll be speaking to Chris Wright, the man responsible | :01:09. | :01:11. | |
The New York Times is offering people a Brexit tour of London. It | :01:12. | :01:27. | |
is the Brexit means Brexit tour. We're asking you today what's your | :01:28. | :01:31. | |
most memorable tour and was it that expensive? Just use the hashtag BBC | :01:32. | :01:42. | |
We start with the world's second biggest car-maker, Toyota, | :01:43. | :01:48. | |
which has just reported its latest set of financial results. | :01:49. | :01:51. | |
This is the first time in five years that the company has | :01:52. | :01:59. | |
Our correspondent Rupert Wingfield-Hayes is in Tokyo. | :02:00. | :02:08. | |
Rupert, what more can you tell us about the figures? Good morning, | :02:09. | :02:15. | |
Rachel. It is a fall for Toyota as expectedment more than expected, but | :02:16. | :02:21. | |
it's still, you know, if profits of $16 billion are bad then it is a | :02:22. | :02:25. | |
problem that a lot of companies would like to have, but that's a | :02:26. | :02:32. | |
fall to 1.83 trillion yen and there is expectation that it will fall | :02:33. | :02:36. | |
again this financial year to 1.6 trillion yen. So it looks like | :02:37. | :02:41. | |
Toyota's overall sales or overall profits rather are on a decline, but | :02:42. | :02:45. | |
it is actually on sales that are still going up. So sales last year | :02:46. | :02:53. | |
were 10.25 million vehicles which is actually up from 10.91 million | :02:54. | :02:56. | |
vehicles the previous yearment the reason for the fall in profits is | :02:57. | :03:01. | |
the strengthening of the Japanese yen because most of Toyota's cars | :03:02. | :03:06. | |
are produced outside Japan, in United States, Europe and China and | :03:07. | :03:10. | |
when the profits are converted into yen the strengthening of the yen is | :03:11. | :03:15. | |
hurting them. Also, flat sales in the United States on a rising | :03:16. | :03:18. | |
market. Record sales of vehicles in the United States last year, but | :03:19. | :03:22. | |
Toyota's sales are flat so obviously that's a disappointment for the | :03:23. | :03:27. | |
company. OK, Rupert wing field haste, thank you. | :03:28. | :03:31. | |
With me is Krish Bhaskar, automotive consultant | :03:32. | :03:32. | |
You were listening to Rupert there and you've been looking at the | :03:33. | :03:41. | |
numbers since they were releasedment what do you make of them? There is a | :03:42. | :03:46. | |
6% drop in the first four months in the US and that's a big drop for | :03:47. | :03:50. | |
Toyota which is used to increases, but the big thing is, it hasn't got | :03:51. | :03:53. | |
enough product. It's the wrong product mix in the US, it needs more | :03:54. | :03:58. | |
SUVs and more pick-ups and that's hurting Toyota badly. Whilst Toyota | :03:59. | :04:04. | |
is hurting, it's rivals in the US are doing well, the ones that | :04:05. | :04:08. | |
traditionally churn out the SUVs, aren't they? It is making America | :04:09. | :04:12. | |
great again tag going on in that part of the world in terms of what | :04:13. | :04:16. | |
people perhaps want to buy? Yes, 65% of the market is now SUVs and light | :04:17. | :04:23. | |
trucks, what they call light trucks which is MPVs and pick-ups. For | :04:24. | :04:31. | |
example one of its competitives, Nissan introduced a new vehicle and | :04:32. | :04:36. | |
that's selling brilliantly. Whereas Toyota hasn't really introduced | :04:37. | :04:40. | |
much. It has a new small SUV, but it's not doing that well. So are you | :04:41. | :04:43. | |
concerned about the outlook for Toyota? It has warmed today about -- | :04:44. | :04:49. | |
warned today about future profits and earnings which will probably | :04:50. | :04:53. | |
take money off its share price tomorrow when markets re-open in | :04:54. | :04:58. | |
Tokyo. How concerned are you? What the president says, Toyota... | :04:59. | :05:06. | |
Toyota, not Trump! At Toyota. He says we realise we've got a boring | :05:07. | :05:11. | |
image and we're going to change and they're investing heavily in new | :05:12. | :05:17. | |
things like robotics, artificial intelligence, autonomous driving, | :05:18. | :05:19. | |
but they're trying to get more desirable vehicles. They're trying | :05:20. | :05:24. | |
to put a motion into their vehicles -- emotion into their vehicles. If | :05:25. | :05:28. | |
they're successful, it would be good. They've overtaken Volkswagen | :05:29. | :05:31. | |
now so they are number one in the world. All right. Well, let's talk | :05:32. | :05:35. | |
about the other president, President Trump, he has criticised Japan, the | :05:36. | :05:40. | |
car makers and Toyota in particular and yet Toyota invested a lot in the | :05:41. | :05:43. | |
US. How does that affect the company, do you think? I think what | :05:44. | :05:48. | |
Toyota will do a they'll see what's going to happen and they'll react. | :05:49. | :05:53. | |
They'll rebalance their production towards the US. They've already | :05:54. | :05:58. | |
given more R D in the States. They've built a big new centre in | :05:59. | :06:03. | |
think he can get around President think he can get around President | :06:04. | :06:06. | |
Trump. They can meet him because a lot of their cars, the bulk of their | :06:07. | :06:09. | |
cars are produced in the US. All right. We appreciate your time this | :06:10. | :06:14. | |
morning and your analysis, thank you for coming in. | :06:15. | :06:16. | |
Let's take a look at some of the other stories making the news. | :06:17. | :06:20. | |
China's ChemChina has won around 82% support from Syngenta shareholders | :06:21. | :06:23. | |
for its $43 billion takeover of the Swiss pesticides | :06:24. | :06:25. | |
The takeover announced last year was prompted by China's desire | :06:26. | :06:30. | |
to use Syngenta's portfolio of top-tier chemicals and | :06:31. | :06:36. | |
It is China's biggest foreign acquisition to date. | :06:37. | :06:41. | |
Profits at Walt Disney jumped 11% in the first three months of 2017, | :06:42. | :06:44. | |
bolstered by attendance at its theme parks and resorts. | :06:45. | :06:46. | |
Profits in the first three months of the year were $2.4 billion. | :06:47. | :06:49. | |
But the media giant's revenue gains were more muted. | :06:50. | :06:51. | |
The firm remains on track for modest growth, in spite of subscriber | :06:52. | :06:54. | |
losses at its sports television network ESPN. | :06:55. | :06:59. | |
Qantas chief executive Alan Joyce has said he intends to press charges | :07:00. | :07:02. | |
against a man who hit him in the face with a pie. | :07:03. | :07:05. | |
Mr Joyce was giving a speech in Perth on Tuesday when the man | :07:06. | :07:08. | |
walked on stage and shoved the pie in his face. | :07:09. | :07:10. | |
A man identified by local media as the attacker later criticised | :07:11. | :07:13. | |
the airline chief's support for same-sex marriage, | :07:14. | :07:15. | |
Australia has introduced a new levy on its biggest banks as part | :07:16. | :07:25. | |
of its annual budget, with the aim of raising | :07:26. | :07:28. | |
Hywel Griffith is live in Sydney. What's the reaction been? | :07:29. | :07:45. | |
Politically, it came as a surprise coming from a Conservative-leaning | :07:46. | :07:48. | |
Government that prides itself on its business links, but even more of a | :07:49. | :07:51. | |
surprise for the banks themselves given the reaction. The Australian | :07:52. | :07:56. | |
Bankers' Association saying it would hurt every Australian by harming | :07:57. | :08:00. | |
investment and hinting rather menacingly towards rather unintended | :08:01. | :08:07. | |
consequences. We've heard from the banks, Westpack Commonwealth warning | :08:08. | :08:09. | |
they think it would fall on the customers shoulders. They couldn't | :08:10. | :08:15. | |
absorb it. We have heard from the Australian Government's treasurer | :08:16. | :08:17. | |
who has warned the banks against putting this levy on their customers | :08:18. | :08:22. | |
shoulders. He says, "They don't like you very much already. Think again | :08:23. | :08:28. | |
about put the charge on the customers fees." | :08:29. | :08:34. | |
Asian stocks. They have been up for the third day in a row. Investors | :08:35. | :08:38. | |
enjoying strong corporate earnings. The Dow closed down slightly, but it | :08:39. | :08:43. | |
is, just down a tad because it has been the best US earnings season for | :08:44. | :08:55. | |
five years. The US futures index slipped on the | :08:56. | :09:03. | |
news that Donald Trump has sacked James Comey. The markets are down, | :09:04. | :09:07. | |
but they are only down slightly. The markets feeling settled after | :09:08. | :09:10. | |
Emmanuel Macron's election victory and still the strong earning figures | :09:11. | :09:17. | |
given investors a sense of settling. Samira has the details on Wall | :09:18. | :09:20. | |
Street. It was over two months ago when Snap, the parent company to | :09:21. | :09:24. | |
Snapchat started trading on the New York Stock Exchange. On Wednesday, | :09:25. | :09:27. | |
they will be reporting earnings for the first time. Now the company's | :09:28. | :09:31. | |
first quarter revenue is expected to rise, helped by advertising on its | :09:32. | :09:37. | |
messaging app, but competition for that pool of advertising dollars is | :09:38. | :09:41. | |
quickly heating up. Investors will want to hear how Snap plans on | :09:42. | :09:46. | |
getting more users and advertisers. Now, also reporting on Wednesday, 21 | :09:47. | :09:50. | |
Century Fox. The company's cable News Channel has seen a boost to | :09:51. | :09:54. | |
revenues as Donald Trump's victory in the US Presidential elections has | :09:55. | :09:58. | |
attracted more audiences. Now with Fox News facing a number of sexual | :09:59. | :10:02. | |
harassment and discrimination lawsuits, investors will be looking | :10:03. | :10:05. | |
out for any updates on that and the potential tie up between them and | :10:06. | :10:09. | |
the UK's Sky. Joining us is Sue Noffke, UK | :10:10. | :10:14. | |
Equities Fund Manager at Schroders. How are you? I'm very well. Good. | :10:15. | :10:25. | |
Apple busting through $800 billion market valuation. I mean, when is it | :10:26. | :10:30. | |
going to stop? I don't know. We have seen very strong earnings and we've | :10:31. | :10:36. | |
also seen re-ratings of tech and growth companies so far in 201 and | :10:37. | :10:42. | |
that's a reversal from that Trump trade that was so strong post the US | :10:43. | :10:46. | |
Presidential election in November last year. So quite a change in mix | :10:47. | :10:52. | |
of what's driving markets forward. It is back to Facebook, Apple, | :10:53. | :10:58. | |
Google, all the big tech names and really the rest of the US market | :10:59. | :11:02. | |
struggling to keep pace, but because those five stocks are so big, it's | :11:03. | :11:08. | |
really powered the overall headline indexes. I think the earnings story | :11:09. | :11:13. | |
is broader than just the US. So we have seen strong earnings and also | :11:14. | :11:16. | |
in Europe where there is perhaps more of a cyclical mix so its | :11:17. | :11:22. | |
financials, it's oils, as much as technology companies and that's also | :11:23. | :11:26. | |
been powering the markets internationally. Now, one of the big | :11:27. | :11:30. | |
stories out of the US was the sacking of the FBI director James | :11:31. | :11:35. | |
Comey, we think it will have an impact on the markets when they | :11:36. | :11:38. | |
open. It is affecting the futures markets. It has led to some sell-off | :11:39. | :11:44. | |
in the futures, but it's important to remember that we are at elevated | :11:45. | :11:48. | |
levels for markets. Volatility index, the fear gauge of the VIC | :11:49. | :11:57. | |
index. Is it the unpredictability of this president? You might just see | :11:58. | :12:02. | |
the focus shift away from good earnings, the Fed under control, all | :12:03. | :12:08. | |
the labour stats being pretty supportive for growth, go back to | :12:09. | :12:13. | |
some sort of risk analysis and politics taking over. All right. Sue | :12:14. | :12:18. | |
will return later the she might even reveal her most memorable tour which | :12:19. | :12:22. | |
is our question for you today. The Inside Track | :12:23. | :12:27. | |
on the music business Later in the programme we'll | :12:28. | :12:31. | |
speak to Chris Wright, the man responsible for signing | :12:32. | :12:35. | |
Spandau Ballet and Blondie. You're with Business | :12:36. | :12:37. | |
Live from BBC News. Barclays is holding its annual | :12:38. | :12:44. | |
general meeting today, amid a backdrop of trouble | :12:45. | :12:46. | |
and controversy around Last month, it was revealed | :12:47. | :12:51. | |
that he had attempted to find out the identity of a whistleblower | :12:52. | :12:58. | |
in the company. He apologised and referred | :12:59. | :13:00. | |
himself to the regulator. Today will be the first time that | :13:01. | :13:02. | |
Mr Staley has publicly faced shareholders since then | :13:03. | :13:05. | |
and there's increasing pressure on shareholders not | :13:06. | :13:07. | |
to re-elect him as the boss. Our business editor Simon Jack, | :13:08. | :13:10. | |
joins us from the newsroom. Simon, I don't know if you're going, | :13:11. | :13:24. | |
but I'd like to be a fly on the wall? I think it will be an | :13:25. | :13:29. | |
interesting one. It is no exaggeration to say that Jes Staley | :13:30. | :13:33. | |
is in a fight for his professional life. The most serious strike | :13:34. | :13:37. | |
against him was that he tried to uncover the identity of a | :13:38. | :13:41. | |
whistle-blower. He hired an old friend from JP Morgan days. Someone | :13:42. | :13:45. | |
sent a letter to the board members questioning the personal conduct of | :13:46. | :13:50. | |
the person who was hired and the relationship with Jes Staley. He | :13:51. | :13:54. | |
said it was an honest mistake and he looked into it. HR said it wasn't a | :13:55. | :14:00. | |
whistle-blowing incident. He thought he licence to track down the person | :14:01. | :14:04. | |
who sent it. He was wrong and this has been referred to the Financial | :14:05. | :14:09. | |
Conduct Authority. Those are sub divisions of the Bank of England. | :14:10. | :14:11. | |
Some shareholders think he might be in for a rough ride with them. There | :14:12. | :14:15. | |
is no rules about how senior managers are supposed to behave and | :14:16. | :14:19. | |
these question marks about his judgment and his temperament are | :14:20. | :14:22. | |
going to be taken very seriously. Now, as far as shareholders go, if | :14:23. | :14:26. | |
it was just down to them, I think that he would be safe. Generally | :14:27. | :14:31. | |
he's popular with shareholders. He turned the bank around. He | :14:32. | :14:34. | |
restructured. They like what he has been doing, but as I say, it won't | :14:35. | :14:39. | |
necessarily be down to them if he loses the confidence of the Bank of | :14:40. | :14:47. | |
England as we saw with his American predecessor, Bob Diamond, the Bank | :14:48. | :14:50. | |
of England can see off any Chief Executive. We know that too well. On | :14:51. | :14:55. | |
the Business Live page there will be updates about how the AGM goes at | :14:56. | :15:01. | |
Barclays Bank. There is other stories including snap judgment. | :15:02. | :15:06. | |
Snap's first earnings will be posted today. It will be watched closely by | :15:07. | :15:11. | |
investors to see how the latest tech upstart is doing on the markets. | :15:12. | :15:17. | |
Indeed, the first since they floated. A top story, the world's | :15:18. | :15:33. | |
biggest car manufacturer Toyota have just posted results. They bit of a | :15:34. | :15:34. | |
mixed bag. It all came out after the trading | :15:35. | :15:44. | |
day ended in Tokyo. We will see how Toyota shares go tomorrow. | :15:45. | :15:49. | |
For many of us, our next guest has been responsible for the soundtrack | :15:50. | :15:53. | |
of the '70s and '80s, signing acts like Blondie, | :15:54. | :15:55. | |
Chris Wright created independent label Chrysalis almost 50 years ago, | :15:56. | :16:00. | |
sold it to a big industry player and is now back | :16:01. | :16:02. | |
at the helm as Chrysalis is re-born as an independent. | :16:03. | :16:05. | |
He co-founded Chrysalis in 1968 with Terry Ellis | :16:06. | :16:07. | |
He then set up a radio and TV business, which included Heart | :16:08. | :16:16. | |
and Galaxy stations, and diversified into television - | :16:17. | :16:19. | |
making Midsomer Murders and covering Formula 1. | :16:20. | :16:22. | |
Now nearly 50 years after his first signing, Chris is back in charge | :16:23. | :16:25. | |
after the acquisition of Chrysalis Music by | :16:26. | :16:27. | |
So much to talk about. He is with us in the studio. Welcome to Business | :16:28. | :16:42. | |
Live, Chris. Good morning. Such a shame we only have three or four | :16:43. | :16:46. | |
minutes. But you decided to come back as chairman of chrysalis was it | :16:47. | :16:51. | |
last year? Do you mind me mentioning your age? 71. 72, sorry! When you | :16:52. | :16:59. | |
decided you would go into a nice semiretirement. Why did you come | :17:00. | :17:04. | |
back? I never fully retired, I was just unemployed. Fair enough, but | :17:05. | :17:10. | |
was it an offer you couldn't resist? Yes, it was put together by Jeremy | :17:11. | :17:14. | |
Hill used to work with me at Chrysalis and Robin Miller, and the | :17:15. | :17:17. | |
opportunity was there and absolutely why not? It is not very often you | :17:18. | :17:22. | |
get the opportunity to buy back a company that you formed Tom had 30 | :17:23. | :17:29. | |
years, and sold 20 years ago. You have been working in the music | :17:30. | :17:33. | |
industry since the 60s, when you were entertainment officer that the | :17:34. | :17:37. | |
students union at Manchester United. How has the music industry changed, | :17:38. | :17:42. | |
from the heady days when you are making or your money through selling | :17:43. | :17:45. | |
albums and singles, then you have digital. How has it changed? It has | :17:46. | :17:51. | |
changed so much, it is hard to even remember the days you started. It | :17:52. | :17:57. | |
was almost the days of 78 rpm signals before 45s. And I am talking | :17:58. | :18:02. | |
a language that most people today would have no concept of what it was | :18:03. | :18:06. | |
really like. The big change is that we used to sell records. You know, | :18:07. | :18:11. | |
they were things you put on a turntable and played, and they | :18:12. | :18:16. | |
morphed into both tapes and CDs. And now the whole thing has morphed into | :18:17. | :18:20. | |
the fact that you listen to what you want to listen to buy just streaming | :18:21. | :18:23. | |
it. Do you think something has been lost? Was it more fun back then, | :18:24. | :18:28. | |
wasn't more about the music and less about the money and volume? I think | :18:29. | :18:34. | |
that applies to a lot of industries, it was more about the products, and | :18:35. | :18:37. | |
now it is so sophisticated, it is more about the bottom line. But, | :18:38. | :18:45. | |
yes, and also in those days, music was like everything to people. If | :18:46. | :18:49. | |
you were a young kid, the only thing that mattered in your life was | :18:50. | :18:53. | |
having the new record by whoever it was that you were particularly in | :18:54. | :18:56. | |
love with. But if you are a young kid today, you want to be on the X | :18:57. | :19:00. | |
factor or something like that, today's stars are found like that, | :19:01. | :19:07. | |
as opposed to you discovering Blondie? The X Factor artist are | :19:08. | :19:11. | |
different kind of people, OK, one or two come good, and you can't knock | :19:12. | :19:14. | |
the success one direction have had for example, but most of them you | :19:15. | :19:18. | |
haven't heard of a year or two later. But none of them are people | :19:19. | :19:22. | |
that write their own songs. You know, they are not like the Beatles | :19:23. | :19:26. | |
or the Rolling Stones or Bob Dylan or Paul Simon. They wouldn't get on | :19:27. | :19:31. | |
the X Factor, because they wouldn't be allowed to sing the songs that | :19:32. | :19:35. | |
they are writing. So they are not really developing careers. But they | :19:36. | :19:38. | |
are entertaining the masses. And that is part of the equation. They | :19:39. | :19:43. | |
are churning it out. You are back in charge now, what do you want to | :19:44. | :19:47. | |
achieve? The first thing we are doing is trying to re-evaluate the | :19:48. | :19:52. | |
catalogue. We bought most of the old records back, not all, because it is | :19:53. | :19:56. | |
quite complicated, but a lot of it. We need to just make sure we | :19:57. | :20:02. | |
reinvigorate that, and get the names of the artists back in the public's | :20:03. | :20:07. | |
mines. There are a lot of people there that people are still | :20:08. | :20:11. | |
interested in, catalogues of old artists are all very well now, and | :20:12. | :20:14. | |
streaming makes it so much easier. Because if you want to buy a record | :20:15. | :20:18. | |
that came out say 40 years ago, you might not get it in a record store | :20:19. | :20:22. | |
easily, you can get everything on the streaming sites, and you listen | :20:23. | :20:28. | |
to it. Then you have no delivery charges, no manufacturing costs. It | :20:29. | :20:33. | |
is a different kind of industry now. We have got to get you to clarify | :20:34. | :20:37. | |
the situation with Mr David Bowie, because it is reported often that | :20:38. | :20:42. | |
you guys listened, and thought no, one-hit wonder, but that apparently | :20:43. | :20:46. | |
is fake news. It is, in a way. He was a bit of a one-hit wonder, | :20:47. | :20:51. | |
because he had had a very big hit with space oddity and then | :20:52. | :20:54. | |
disappeared off the scene. We signed him as a songwriter to our | :20:55. | :20:57. | |
burgeoning music publishing company. He made a record, which was the | :20:58. | :21:01. | |
hunky-dory album, which was a brilliant album. My ex-partner, | :21:02. | :21:06. | |
which to his credit was fundamentally responsible for | :21:07. | :21:10. | |
signing Blondie, did listen to the David Bowie hunky-dory album, didn't | :21:11. | :21:13. | |
like it. I happen to be in the States of the time, he said I have | :21:14. | :21:16. | |
heard the Bowie album, no good, we are not signing it, I said OK. I | :21:17. | :21:21. | |
came back to the States and listen to it, and thought big mistake, | :21:22. | :21:26. | |
Terry, and was. We did have him sign to us as a songwriter, so it wasn't | :21:27. | :21:30. | |
like we were totally not involved in his career, because we were. Thank | :21:31. | :21:34. | |
you so much coming in. Show me couldn't talk to you more. Chris, | :21:35. | :21:38. | |
come back and we will get half an hour out of here. I would love to. | :21:39. | :21:44. | |
Lovely to meet you. Eurostar, the train operator that run services | :21:45. | :21:48. | |
between London, Paris and Brussels, has reported its first quarterly | :21:49. | :21:53. | |
results. Sales were up 15% year-on-year powered by strong | :21:54. | :21:56. | |
performance in business travel and overseas markets. I spoke to the | :21:57. | :21:59. | |
boss earlier, this is what he had to say. We are very pleased with the | :22:00. | :22:03. | |
quarter. We have a strong UK business market, which came back, | :22:04. | :22:07. | |
which is very good news, and also we will release a prized by the | :22:08. | :22:09. | |
strength of the North American market. Loads of Americans coming to | :22:10. | :22:14. | |
Europe to visit, taking advantage of the weak pound and a weak euro by | :22:15. | :22:20. | |
historical standards, so they have really powered the growth of the | :22:21. | :22:23. | |
first quarter. We are really pleased. I think a lot of | :22:24. | :22:27. | |
businesses, they see the political risk diminishing, so there is a real | :22:28. | :22:32. | |
appetite to do more business. Some businesses are looking also, because | :22:33. | :22:37. | |
of Brexit, OK, shall we set up a new subsidiary in France? Emmanuel | :22:38. | :22:42. | |
Macron had a very good share of the votes. He has been very up front | :22:43. | :22:51. | |
about what he wanted to do. If he gets a majority at the parliament, | :22:52. | :22:56. | |
he will get a mandate to implement the change, which may be in previous | :22:57. | :23:02. | |
times, it came without that clear warning, I would say, warning sign | :23:03. | :23:06. | |
on it. So I am optimistic. I think he knows how to handle difficult | :23:07. | :23:14. | |
situations, so I am very optimistic. Nicholas Petkovic, the boss of | :23:15. | :23:15. | |
Eurostar. We are asking you this morning, what | :23:16. | :23:23. | |
memorable tours have you been, because Sue has returned to talk to | :23:24. | :23:27. | |
us about these stories in the papers today. The New York Times has | :23:28. | :23:33. | |
offered a ?4600 Brexit means Brexit tour of London. Would you pay that? | :23:34. | :23:39. | |
It seems a bit steep. Six days, and it is all in London, but I think | :23:40. | :23:45. | |
what it does do is bring together a package of people. So it is not just | :23:46. | :23:48. | |
wondering around, following someone with an amber alert. You get the | :23:49. | :23:58. | |
whole thing. Do you meet the person who coined Brexit means Brexit, | :23:59. | :24:01. | |
Prime Minister Theresa May? It doesn't say that in the itinerary, | :24:02. | :24:06. | |
but you get to go into a pub frequented by MPs, so maybe she will | :24:07. | :24:10. | |
drop in. You could do that for free, though, couldn't you? Rachel and I | :24:11. | :24:15. | |
are thinking of coming up with an alternative tour. ?3000 may be. We | :24:16. | :24:20. | |
will undercut them. Tell us what you think. What is your most memorable | :24:21. | :24:26. | |
tour? On a corporate level, it has to be flying up to Barrow in | :24:27. | :24:30. | |
Furness, and seeing these enormous nuclear submarines being built, | :24:31. | :24:34. | |
standing on the gantry. It was incredible. Just to see the state of | :24:35. | :24:40. | |
manufacturing. It was wonderful. Are used to take tours, as a summer camp | :24:41. | :24:43. | |
leader, I would take small children and dress them up in boiler suits, | :24:44. | :24:47. | |
hard hats and light and we would go through the Marble Arch Caves. I | :24:48. | :24:51. | |
loved the pin-up of the store in London, wine tasting engine tasting. | :24:52. | :24:55. | |
Do you remember it? I remember most of it. What else is in the papers | :24:56. | :25:02. | |
question that we must mention Kenneth, the temples in and around | :25:03. | :25:05. | |
Tokyo and Kyoto, he says. Sounds nice. Another story in The Times, | :25:06. | :25:11. | |
finance merger leaves 800 without jobs. Gas, so this is an interesting | :25:12. | :25:17. | |
one. When the merger was announced earlier in the year, so this is | :25:18. | :25:23. | |
Aberdeen and standard life, so two big financial firms, dominated in | :25:24. | :25:29. | |
Scotland. When the merger was announced, it was quite | :25:30. | :25:32. | |
controversial, because you have both heads still being part of the | :25:33. | :25:37. | |
ongoing group, and made play down the impact the job losses. This 800 | :25:38. | :25:42. | |
job losses now leaking out could be as much as one in ten staff over | :25:43. | :25:46. | |
three years. So that is really very significant. A large nub of people, | :25:47. | :25:50. | |
and it is quite politicised because it is Scotland. -- a large number of | :25:51. | :25:57. | |
people. That is it from Business Live today, we will be back | :25:58. | :25:59. | |
tomorrow. See you soon. | :26:00. | :26:02. |