Browse content similar to 11/05/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Ben Thompson | :00:00. | :00:07. | |
Snap judgement - investors punish the firm behind | :00:08. | :00:11. | |
Snapchat as the messaging app's results disappoint, | :00:12. | :00:13. | |
its shares plunging in afterhours trade. | :00:14. | :00:19. | |
Live from London, that's our top story on Thursday, | :00:20. | :00:21. | |
In its first results since listing, Snap's net losses soar to billions | :00:22. | :00:41. | |
of dollars as its struggles to attract new users. | :00:42. | :00:44. | |
BT, the UK's biggest telecoms group, says it will cut 4,000 jobs | :00:45. | :00:51. | |
worldwide over the next two years in a major restructuring. | :00:52. | :01:02. | |
All eyes on the Bank of England as it unveils its quarterly economic | :01:03. | :01:07. | |
update later. Interest rates are set to stay on hold of a record low of | :01:08. | :01:11. | |
0.25%. And the company that | :01:12. | :01:13. | |
created Photoshop, we'll be speaking to the boss | :01:14. | :01:14. | |
of the software firm Today we want to know, | :01:15. | :01:17. | |
do you use Snapchat? I know that Tanya is a user of | :01:18. | :01:21. | |
Snapchat, I have seen the selfies! And we start with Snap, the company | :01:22. | :01:47. | |
behind the messaging app Snapchat. It lets you send photo messages that | :01:48. | :01:51. | |
disappear after a few seconds. But it seems the confidence | :01:52. | :01:54. | |
of investors has gone Snap's shares plunged in after-hours | :01:55. | :01:56. | |
trading on its first set of financial results since that huge | :01:57. | :02:00. | |
flotation back in March. Snap lost $2.21 billion in the first | :02:01. | :02:04. | |
three months of the year. That's way more than | :02:05. | :02:09. | |
the same time last year. Well, mostly because of huge | :02:10. | :02:11. | |
pay-outs to staff with stock But here's the number investors | :02:12. | :02:16. | |
are really looking at. By the end of March | :02:17. | :02:28. | |
166 million people were That's up over 36% | :02:29. | :02:31. | |
on the same time last year. But it was a few million less | :02:32. | :02:42. | |
than investors had been hoping for and a big slowdown from growth | :02:43. | :02:45. | |
seen in previous quarters. It also pales in comparison | :02:46. | :02:48. | |
when you look at this. Facebook has around 1.3 | :02:49. | :02:50. | |
billion daily users. And almost 2 billion use it | :02:51. | :02:53. | |
at least once a month. Even its version of Snapchat, | :02:54. | :02:56. | |
Instagram Stories, has Investors were quick to pile | :02:57. | :02:57. | |
into shares when Snap went Shares rose by as much as 50% | :02:58. | :03:01. | |
in the first days of trading, but look how that enthusiasm has | :03:02. | :03:05. | |
waned on concerns about When it went public in March, Snap | :03:06. | :03:27. | |
at to answer two questions, the first if it could attract a enough | :03:28. | :03:34. | |
new users to give investors happy, and could it survive an onslaught | :03:35. | :03:38. | |
from Facebook, copying its ideas and giving it to its users? So far, the | :03:39. | :03:42. | |
answer to both questions seems to be no. User growth seems to have been | :03:43. | :03:48. | |
too small, and while Snapchat is still very popular with teenagers, | :03:49. | :03:51. | |
there has not been an increasing engagement that investors wanted. | :03:52. | :03:58. | |
One investor asked the chief executive if there were new products | :03:59. | :04:01. | |
coming up to give investors cause for hope. It's fair to say he did | :04:02. | :04:06. | |
not have too many bright ideas. He also said he was not worried by | :04:07. | :04:10. | |
Facebook, but, on the evidence of these results, he probably should | :04:11. | :04:12. | |
be. I'm joined by Mike Weston, Founder | :04:13. | :04:15. | |
of marketing agency Radiate B2B. that investors are quite skittish. | :04:16. | :04:27. | |
We see some very big numbers in terms of subscriber growth and the | :04:28. | :04:32. | |
losses. But that is nothing new for this particular sector. What is | :04:33. | :04:36. | |
particularly upsetting investors? Well, the first is the concern that | :04:37. | :04:41. | |
growth has significantly slowed. A year ago, growth rate was 52%, daily | :04:42. | :04:46. | |
average user growth. That is the key metric. Ahead of these numbers that | :04:47. | :04:53. | |
pundits in the states were talking about, anything below about 9 | :04:54. | :04:56. | |
million growth in that number would be punished by the stock market. | :04:57. | :05:00. | |
That is exactly what has happened. Why does it matter? It matters | :05:01. | :05:06. | |
because it really needs to monetise the users they have got. It is quite | :05:07. | :05:10. | |
a bloodthirsty market, particularly in North America, where most of the | :05:11. | :05:16. | |
revenue comes from. Can we compete with TV audiences? If they are not | :05:17. | :05:19. | |
getting to the bulk numbers that someone like Facebook has, they are | :05:20. | :05:24. | |
going to struggle. The comparison with TV audiences is advertising? | :05:25. | :05:27. | |
Absolutely, that is where the revenue comes from. Snap, making it | :05:28. | :05:36. | |
popular as an app, getting is used to taking pictures with filters, | :05:37. | :05:40. | |
Facebook arrives with Instagram and makes Instagram stories, they have | :05:41. | :05:43. | |
the user base already and that is a big challenge, taking on a huge | :05:44. | :05:47. | |
organisation with a massive user base? Yes, he will not afraid to | :05:48. | :05:54. | |
copy. I loved Eric Speigel's comments, the founder of Snapchat, | :05:55. | :05:59. | |
just because Yahoo put a search box on their page, it doesn't make them | :06:00. | :06:03. | |
Google. Trying to draw that comparison which was quite punchy. | :06:04. | :06:08. | |
He is quite secretive about his next creative move. In the end, as you | :06:09. | :06:12. | |
say, it has to be monetised, it does not matter how many users you have, | :06:13. | :06:15. | |
you have to make enough money out of them. Snapchat does that. When you | :06:16. | :06:22. | |
take a photograph and your tongue goes... I don't do it, of course! | :06:23. | :06:29. | |
When it goes gold, or you get horns and looked like a devil, it is | :06:30. | :06:34. | |
normally advertising something. It is not sufficiently monetised | :06:35. | :06:39. | |
though, to satisfy investors? They have shown massive growth, | :06:40. | :06:42. | |
year-on-year, an advertising revenue, but it is still short of | :06:43. | :06:47. | |
what Wall Street was expecting. That is disappointing. If the user growth | :06:48. | :06:50. | |
is not there, you need to increase the amount of revenue per user that | :06:51. | :06:55. | |
you are getting, and it is not happening. That is worrying for | :06:56. | :07:01. | |
stockholders and investors. Nice to see you. Lots of you getting in | :07:02. | :07:04. | |
touch already. We asked the question at the start of the programme, do | :07:05. | :07:08. | |
you use it? Ian says he hardly uses it now that Instagram has Stories. | :07:09. | :07:15. | |
Occasionally use it for face swapping, we will not even get into | :07:16. | :07:20. | |
that! A whole other minefield. Damian says he has an account but I | :07:21. | :07:24. | |
have not been using it lately, it does not really offer much more than | :07:25. | :07:29. | |
Instagram. Keep comments coming in. We will talk about them later. | :07:30. | :07:31. | |
Let's take a look at some of the other stories making the news. | :07:32. | :07:34. | |
BT, Britain's biggest telecoms group, says it plans cut 4,000 jobs | :07:35. | :07:37. | |
over the next two years in a major restructuring. | :07:38. | :07:42. | |
The telecoms giant said the posts would be going in back-office | :07:43. | :07:45. | |
and managerial sectors as it simplifies its Global | :07:46. | :07:47. | |
It said technology trends meant it was less dependent on owning | :07:48. | :07:55. | |
physical network assets around the world. | :07:56. | :07:59. | |
Boeing has temporarily halted test flights of its new 737 MAX aircraft | :08:00. | :08:01. | |
due to possible issues with the engine. | :08:02. | :08:03. | |
The stoppage came days before the US planemaker was due to make its first | :08:04. | :08:06. | |
delivery of the aircraft to a customer. | :08:07. | :08:09. | |
But Boeing said it was sticking with plans to begin MAX | :08:10. | :08:11. | |
deliveries this month, adding that production | :08:12. | :08:13. | |
Profits at 21st Century Fox dipped in the first three months | :08:14. | :08:19. | |
of the year, weighed down by flat cable advertising and less | :08:20. | :08:22. | |
The Rupert Murdoch controlled firm said profits fell 5% to $799m | :08:23. | :08:28. | |
compared with the same period last year. | :08:29. | :08:36. | |
Fox though said it remains confident that its bid to take full | :08:37. | :08:39. | |
Loads of other stories for you, we can't fit them all on here, but they | :08:40. | :08:52. | |
are on the website. Nissan says profits will fall. The Japanese | :08:53. | :08:59. | |
in profit due to higher raw material in profit due to higher raw material | :09:00. | :09:03. | |
costs. We should get used to hearing that, inflation rising in many parts | :09:04. | :09:06. | |
of the world, we have seen a big number of manufacturers reporting | :09:07. | :09:12. | |
that. Nissan one of the first to say it could have a huge impact on | :09:13. | :09:13. | |
operating profits. To Asia now where Japanese | :09:14. | :09:17. | |
telecoms and internet giant Softbank has revealed some | :09:18. | :09:19. | |
of its best profits ever. Softbank runs a mobile phone network | :09:20. | :09:24. | |
in Japan but also invests It owns US mobile company | :09:25. | :09:27. | |
Sprint and has recently bought UK chip firm ARM - | :09:28. | :09:35. | |
which designs chips for the iPhone. I said don't be fooled by the name, | :09:36. | :09:48. | |
you might assume it is a bank? That's right, Softbank is an | :09:49. | :09:53. | |
incredibly fascinating company, Howard has transformed itself from | :09:54. | :09:57. | |
just a Japanese telco to one of the world's biggest technology companies | :09:58. | :10:00. | |
is something people should look into. Today it recorded its second | :10:01. | :10:07. | |
best profit of $26 billion. Profit tripled largely thanks to the sale | :10:08. | :10:11. | |
of a very lucrative stake it had in the Chinese e-commerce giant Eilidh | :10:12. | :10:16. | |
Barbour, and as well as the sale of a Finnish game maker. -- e-commerce | :10:17. | :10:27. | |
giant Alibaba. It is enigmatic founder is setting up a $100 billion | :10:28. | :10:32. | |
technology fund with Saudi Arabia. Last July, you mentioned already at | :10:33. | :10:43. | |
bought ARM. It also sunk money into Sprint, as well as the Indian | :10:44. | :10:51. | |
e-commerce site Snap Deal. These were all big investments, but the | :10:52. | :10:54. | |
three I just mentioned are loss-making. Whether they pay off | :10:55. | :11:01. | |
like Alibaba, that is a big question mark. Do you use a Snapchat? I am | :11:02. | :11:04. | |
quite old school, no. Just Facebook. This is what happened in Asia, | :11:05. | :11:18. | |
surprise that markets rose. There was concern yesterday, all of the | :11:19. | :11:22. | |
destruction about President Trump, the sacking of the FBI chief, what | :11:23. | :11:26. | |
it would mean in terms of policies regarding tax, is it a distraction | :11:27. | :11:30. | |
from that about cutting tax for business? We saw some reaction to | :11:31. | :11:39. | |
that. Let me take you to Asia. This is what is happening. Not a huge | :11:40. | :11:42. | |
amount happening across the board, in the UK, a big day because we get | :11:43. | :11:45. | |
a quarterly update from the Bank of a quarterly update from the Bank of | :11:46. | :11:49. | |
England about what it expects the economy to do over the coming | :11:50. | :11:57. | |
quarter. Interest rates set to stay up at record low. Let's head to the | :11:58. | :11:58. | |
US. Samira has the details. Retail will take centre | :11:59. | :12:03. | |
stage on Thursday as US department stores Macy's, | :12:04. | :12:06. | |
Kohl's and Nordstrom Now, all three companies | :12:07. | :12:07. | |
are struggling with falling sales amid growing competition and have | :12:08. | :12:10. | |
resorted to cutting costs by closing stores and selling | :12:11. | :12:15. | |
or leasing their real estate, Macy's and Kohl's are already | :12:16. | :12:17. | |
predicting that sales will fall this year, | :12:18. | :12:24. | |
while Nordstrom believes Also happening on Thursday, | :12:25. | :12:25. | |
Wells Fargo usually holds But it is holding one | :12:26. | :12:30. | |
for the second year in a row. It's trying to restore | :12:31. | :12:36. | |
shareholder confidence, following its recent accounts | :12:37. | :12:37. | |
scandal. The bank will provide | :12:38. | :12:41. | |
new cost-cutting targets and leaders of the lender's major business units | :12:42. | :12:45. | |
will discuss their outlook. Joining us is Lawrence Gosling, | :12:46. | :12:51. | |
editor-in-chief of Investment Week. Quite a UK focus we have got going | :12:52. | :13:04. | |
today. Let's start with the Bank of England. We are getting a regular | :13:05. | :13:08. | |
inflation reports, a lot of reports on whether there is any hint of an | :13:09. | :13:12. | |
interest rate rise. As Ben was saying earlier, virtually no | :13:13. | :13:15. | |
expectation we will get an interest rate rise. It is almost a question | :13:16. | :13:18. | |
of if we will get one before the end of the year. I would say almost | :13:19. | :13:23. | |
certainly not. Or the end of next year? Even before the Brexit | :13:24. | :13:31. | |
negotiations? We will still be here discussing it! We could make a case | :13:32. | :13:37. | |
for not seeing an interest rate rise until the UK has got through the | :13:38. | :13:41. | |
Brexit negotiations, it is the one piece of ammunition that the Bank of | :13:42. | :13:44. | |
England has in the reserves to kick-start the economy. I think we | :13:45. | :13:48. | |
will see some signs of slowing inflation, numbers should take up a | :13:49. | :13:52. | |
little bit. We're getting used to higher energy prices, commodity | :13:53. | :13:56. | |
prices, that kind of stuff, and the effect of weaker sterling for goods | :13:57. | :14:00. | |
being imported into the UK. A quick look on the outlook, away from the | :14:01. | :14:02. | |
interest rate decision, we will give you the update on what the economy | :14:03. | :14:08. | |
is doing, and it is going to be the same issue, Brexit? They think it is | :14:09. | :14:13. | |
often in, that is the view from most people running businesses, that the | :14:14. | :14:16. | |
economy is starting to flat line a little bit, largely because we are | :14:17. | :14:19. | |
getting nervous about the longer term consequences of negotiations | :14:20. | :14:26. | |
might be. We will talk about the paper stories later. Thank you. | :14:27. | :14:28. | |
Still to come, he's one of the most prominent names in tech | :14:29. | :14:31. | |
at one of the sector's most important firms. | :14:32. | :14:34. | |
Shantanu Narayen is the boss of Adobe and joins us | :14:35. | :14:36. | |
You're with Business Live from BBC News. | :14:37. | :15:39. | |
It ignores the elephant in the room which is the big accounting scandal | :15:40. | :15:45. | |
in Italy that erupted earlier this year. The company said it cost more | :15:46. | :15:53. | |
than ?500 million. Lots of people lost their jobs, the investigation | :15:54. | :15:57. | |
was opened and the company's share price fell by more than 20%. The | :15:58. | :16:01. | |
company is feeling the effects of that. There has been a problem in | :16:02. | :16:07. | |
the UK with the scandal over open Reach, the broadband delivery part | :16:08. | :16:13. | |
of BT. It was fined a record ?42 million by Ofcom for failing to pay | :16:14. | :16:17. | |
compensation to customers who had to wait, business customers, who had to | :16:18. | :16:23. | |
wait too long to have high-speed lines installed, for manipulating | :16:24. | :16:27. | |
the rules. It has been a pretty rough year and that is why the chief | :16:28. | :16:32. | |
executive is giving up his bonus. Quickly, it is a really tough market | :16:33. | :16:37. | |
out there. All the telecoms firms have been warning on profits. They | :16:38. | :16:41. | |
are trying to get new users and amidst all of this there is a lot of | :16:42. | :16:47. | |
scandal for BT to content with. Yes, it is a tough market and BT is | :16:48. | :16:52. | |
trying to restructure its business. Its global services business which | :16:53. | :16:57. | |
provides IT solutions to business network solutions, not just in the | :16:58. | :17:02. | |
UK, it is slimming back down. It says it does not need so much | :17:03. | :17:05. | |
old-fashioned infrastructure and it is getting rid of 4000 back-office | :17:06. | :17:11. | |
cuts to cut costs. A lot to content with there. | :17:12. | :17:19. | |
BT is to shed 4000 jobs. It is a new overhaul. | :17:20. | :17:32. | |
Our top story, shares in Snapchat's owner have plunged in after hours | :17:33. | :17:38. | |
trading after it reported disappointing growth in the first | :17:39. | :17:41. | |
Let's quickly check on what the European markets are doing and it is | :17:42. | :17:52. | |
not a lot, as we have just discussed with Lawrence. All eyes will be on | :17:53. | :17:57. | |
the Bank of England as far as the inflation report is concerned. The | :17:58. | :18:01. | |
interest rate decision will be at midday in the UK. | :18:02. | :18:02. | |
Think of tech names that are known around the world and Adobe is one | :18:03. | :18:07. | |
in 1982, the firm has created many industry changing products that | :18:08. | :18:21. | |
It makes products many of you will be familiar with | :18:22. | :18:31. | |
like Acrobat, Photoshop and the Flash video | :18:32. | :18:32. | |
Adobe has largely produced software for the arts, | :18:33. | :18:36. | |
design and film industries which have been used on blockbuster | :18:37. | :18:38. | |
Its products have also powered innovation in TV too. | :18:39. | :18:41. | |
It helped build the BBC's successful iPlayer TV on demand service. | :18:42. | :18:44. | |
So what's it like to lead a global technology firm amid so much change? | :18:45. | :18:49. | |
Shantanu Narayen is the boss of the company and joins us now. | :18:50. | :18:54. | |
Welcome to the programme. This is a company which in a way has tracked | :18:55. | :18:59. | |
the development of technology and the changes in the sector, so could | :19:00. | :19:04. | |
you highlight what those have been during its journey and during the | :19:05. | :19:08. | |
time you have been there? Thank you for having me on your show. You are | :19:09. | :19:14. | |
right, we have been known for fundamental innovations that have | :19:15. | :19:21. | |
changed the world of publishing. The first was the ability to print what | :19:22. | :19:26. | |
you see on the screen. After that we created the first applications that | :19:27. | :19:32. | |
allowed people to use applications like Illustrator. But the seminal | :19:33. | :19:38. | |
products have been the ones you mention, photo shop, Acrobat. More | :19:39. | :19:41. | |
importantly we are looking at the new forms of media people are using. | :19:42. | :19:46. | |
What is so interesting, like we have seen with Hoover and vacuum | :19:47. | :19:52. | |
cleaners, photo shop is now a verb. It is so commonplace and mainstream | :19:53. | :19:56. | |
people use it in everyday language. That gives you a incredible power, | :19:57. | :20:02. | |
doesn't it? If you look at the technology industry, the whole | :20:03. | :20:05. | |
landscape is littered with people who rests on their laurels. Photo | :20:06. | :20:11. | |
shop has been an incredible success. We are so focused on how we make | :20:12. | :20:16. | |
sure that the billions of pictures people are taking, that photo shop | :20:17. | :20:21. | |
continues to evolve at an innovative pace. People are using their cell | :20:22. | :20:25. | |
phones to deal with pictures and the magnitude of pictures is amazing. I | :20:26. | :20:30. | |
mentioned technology has undergone fundamental change, as we have seen | :20:31. | :20:34. | |
the entrance of Facebook into the advertising world and the publishing | :20:35. | :20:39. | |
world. You have entered publishing as well. At one point you are | :20:40. | :20:43. | |
interested in being a journalist. There has been a huge merging within | :20:44. | :20:49. | |
technology and broadcasting. How do you see the changes next? What has | :20:50. | :20:55. | |
happened is everybody has had a story to tell. The ability to tell | :20:56. | :20:58. | |
that story used to be restricted to a few people at the top of the | :20:59. | :21:04. | |
pyramid. And what companies like us or Facebook are doing is | :21:05. | :21:08. | |
democratising who is able to tell the story. Distribution is now | :21:09. | :21:13. | |
available if you have a video and a story to tell. What is happening is | :21:14. | :21:18. | |
the confluence of technology and media and publishing is causing all | :21:19. | :21:24. | |
these new entrants to emerge. It makes design and aesthetics and | :21:25. | :21:28. | |
storytelling even more important. And the barriers to entry for new | :21:29. | :21:33. | |
firms are much lower. There was a time when you had to buy one of your | :21:34. | :21:38. | |
products you had to buy it on disk or a CD-ROM and now everything is in | :21:39. | :21:42. | |
the cloud. Wherever you are in the world you can access it, but that | :21:43. | :21:46. | |
also means your competitors can do the same. We were very early in | :21:47. | :21:52. | |
pioneering and believing the cloud would enable us to attract even more | :21:53. | :21:57. | |
of a set of customers. The upfront price was considered prohibitive, so | :21:58. | :22:02. | |
we went to a monthly subscription. That caused us to get 30% more | :22:03. | :22:09. | |
customers. For ?9 99, if you have access to all the photo shop Magic | :22:10. | :22:14. | |
it has brought so many people into the platform. But even from a | :22:15. | :22:18. | |
competitive point of view it allows us to compete better because we can | :22:19. | :22:21. | |
innovate at the pace of which our product people are focus. And it is | :22:22. | :22:29. | |
always updated in the cloud. That is right and you can benefit from | :22:30. | :22:34. | |
making sure it is perfect. I want to briefly ask you about India which | :22:35. | :22:38. | |
has developed enormously on the back of the technology wave. How do you | :22:39. | :22:43. | |
perceive it now? Mobile is transforming everything and emerging | :22:44. | :22:46. | |
markets like India get to leapfrog countries like the UK or the US and | :22:47. | :22:50. | |
they are taking advantage of that. Thank you so much for joining us. In | :22:51. | :22:57. | |
a minute we will look through the business pages, but here is a | :22:58. | :23:01. | |
reminder of how to get in touch with us. We will keep you up-to-date with | :23:02. | :23:14. | |
all the inside news with analysis from around the world. We want to | :23:15. | :23:18. | |
hear from you as well. Get involved on the web page. We are on Twitter | :23:19. | :23:28. | |
and you can find us on Facebook. Business live on TV and online, | :23:29. | :23:34. | |
whenever you need to know. Lawrence is here to take us through the | :23:35. | :23:39. | |
papers. If you pick up a copy on the way to work this morning in the UK | :23:40. | :23:50. | |
or in New York, the chances are it is from Pret a Manger, which was | :23:51. | :23:54. | |
founded in the UK and they are looking to float on Wall Street. | :23:55. | :24:00. | |
Largely because the central evaluation would be a lot higher. If | :24:01. | :24:14. | |
you explore that multiple, it could be worth ?3.5 billion sterling. This | :24:15. | :24:20. | |
is the value of the share price at which it floats. Correct. That is | :24:21. | :24:26. | |
normally some sort of multiple according to the sector of the | :24:27. | :24:33. | |
earnings. 40 times would be a bit frothy. Frothy in cappuccino terms. | :24:34. | :24:38. | |
If we were going towards the Americana, it would be 15. Yes, | :24:39. | :24:43. | |
towards the filter coffee, a sensible price for a business like | :24:44. | :24:49. | |
this which is growing steadily, particularly in the States. Can I | :24:50. | :24:53. | |
pick up on that love of triangular sandwiches. We were told it was a | :24:54. | :24:59. | |
British obsession. No one else in the world does this. Clearly this is | :25:00. | :25:04. | |
proof that it has a future. They also sell bread to the French these | :25:05. | :25:12. | |
days. It was very early in the casual dining sector, in fact it | :25:13. | :25:17. | |
almost kicked it off. I remember it in the 90s. It is a 30-year-old | :25:18. | :25:22. | |
business. And it has had an ethical stance and it gives away its fresh | :25:23. | :25:25. | |
food at the end of the day to homeless people which has resonated | :25:26. | :25:29. | |
with people. And an interesting hiring policy. Yes, they have got | :25:30. | :25:35. | |
the big EU workforce. It tried to offer free sandwiches for unpaid | :25:36. | :25:40. | |
internships but it has withdrawn that because it was pushing it a bit | :25:41. | :25:45. | |
too far. On that note we will all go and have a copy. | :25:46. | :25:50. | |
There will be more business news throughout the day on the BBC Live | :25:51. | :25:54. | |
webpage and on World Business Report. | :25:55. | :25:56. | |
After days and weeks of dry weather, many of us are desperate for some | :25:57. | :26:17. | |
rain and it looks | :26:18. | :26:18. |