Browse content similar to 22/05/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Sally Bundock and Ben Thompson. | :00:00. | :00:10. | |
President Trump leaves Saudi Arabia with hundreds | :00:11. | :00:14. | |
of billions of dollars of trade deals for the United States | :00:15. | :00:25. | |
Live from London, that's our top story on Monday, 22nd May. | :00:26. | :00:37. | |
Is it a simple win the for the United States economy | :00:38. | :00:43. | |
or is there a bigger cost of doing business in Saudi? | :00:44. | :00:50. | |
We will talk you through what's at stake. | :00:51. | :00:57. | |
Also in the programme, Hong Kong's | :00:58. | :00:58. | |
flagship airline makes it biggest change of course for 20 years, | :00:59. | :01:00. | |
but can job cuts land the saving Cathay Pacific needs? | :01:01. | :01:05. | |
A new trading week is under way. The debt crisis in Greece is back in | :01:06. | :01:11. | |
focus. We'll tell you all you need to know. | :01:12. | :01:13. | |
And we'll be getting the inside track on one man's effort | :01:14. | :01:16. | |
It might look like a kid's toy, but with some of the biggest names | :01:17. | :01:23. | |
in music want to get their hands on it, we meet the man | :01:24. | :01:26. | |
So today we want to know, what was your first | :01:27. | :01:29. | |
Let us know. Just use the hashtag BBCBizLive. | :01:30. | :01:43. | |
We begin with US President Donald Trump who is about to leave | :01:44. | :01:55. | |
That's his next stop on his foreign tour. | :01:56. | :02:05. | |
Over the weekend in Riyadh he signed agreements worth hundreds | :02:06. | :02:10. | |
of billions of dollars between Saudi and American firms. | :02:11. | :02:12. | |
The deals are said to be worth more than $350 billion over the next ten | :02:13. | :02:16. | |
years and build on America's decades-long alliance with | :02:17. | :02:18. | |
Now Saudi Arabia is trying to diversify its economy away | :02:19. | :02:25. | |
from oil after crude oil prices slumped by half over | :02:26. | :02:27. | |
And among the US firms trying to work with Saudi | :02:28. | :02:33. | |
Arabia's private sector the likes of Honeywell, | :02:34. | :02:35. | |
A key part of the agreement is a $110 billion arms deal | :02:36. | :02:43. | |
which the White House says is the single biggest in US history. | :02:44. | :02:46. | |
It will supply a range of military items including planes, | :02:47. | :02:48. | |
ships, sophisticated radar and precision-guided bombs. | :02:49. | :02:51. | |
The arms deal is part of a tough stance that Mr Trump appears | :02:52. | :02:55. | |
to be taking on Iran, a move that will please | :02:56. | :02:57. | |
It is in sharp contrast to his predecessor Barack Obama, | :02:58. | :03:06. | |
who in 2015 signed the nuclear deal with Iran. | :03:07. | :03:10. | |
Speaking on Sunday, Mr Trump singled out Iran for criticism, | :03:11. | :03:13. | |
accusing it of fuelling sectarian conflict and terror | :03:14. | :03:15. | |
Until the Iranian regime is willing to be a partner for peace, all | :03:16. | :03:28. | |
nations and countries must work together to isolate Iran, deny it | :03:29. | :03:35. | |
funding for terrorism, cannot do it and pray for the day when the | :03:36. | :03:41. | |
Iranian people have the just and righteous Government they so richly | :03:42. | :03:42. | |
deserve. Esfandyar Batmanghelidj is the | :03:43. | :03:46. | |
Founder of the Europe-Iran Forum. Let's talk about the deal. A big | :03:47. | :03:59. | |
deal that Trump has been keen to hail as a successful outcome of that | :04:00. | :04:04. | |
trip. It was began by Obama, but $110 billion, what do you make of | :04:05. | :04:08. | |
the deal? Well, I think the deal and the Riyadh summit was largely an | :04:09. | :04:11. | |
opportunity for Saudi Arabia to demonstrate that they are | :04:12. | :04:16. | |
controlling sort of the US approach to Middle East policy and the size | :04:17. | :04:21. | |
of the deal, $110 billion is a transparent attempt to put a price | :04:22. | :04:25. | |
tag on the US-Saudi strategic relationship. If you look at it from | :04:26. | :04:32. | |
the prospect of Saudi's rival Iran, it is an amount they cannot match. | :04:33. | :04:36. | |
The only comparable deals Iran has with the United States are two | :04:37. | :04:38. | |
pending contracts with Boeing for the sale of commercial aircraft, | :04:39. | :04:43. | |
those amount to merely $11 billion. So we're talking about ten times | :04:44. | :04:47. | |
more economic value that Trump is delivering at the summit. I suppose | :04:48. | :04:52. | |
if you're Boeing, it is still good news to have an $11 billion deal, | :04:53. | :04:56. | |
but you're right, in terms of financial influence and therefore, | :04:57. | :04:59. | |
economic and political influence, Iran can't compete with Saudi | :05:00. | :05:03. | |
Arabia? That's it. On a company by company basis Iran remains an | :05:04. | :05:06. | |
attractive market for US companies. The companies that were just | :05:07. | :05:11. | |
mentioned Honeywell and General Electric are looking at the Iranian | :05:12. | :05:15. | |
market and there is significant investment, but the overall picture | :05:16. | :05:18. | |
is clear if money is what's going to talk for Donald Trump, Iran will | :05:19. | :05:22. | |
have a hard time getting their influence heard in Washington and so | :05:23. | :05:26. | |
they will have to find other avenues and rely on other international | :05:27. | :05:30. | |
partners to anchor their relationship in the international | :05:31. | :05:33. | |
community. An important time for Iran too, of course, a time of big | :05:34. | :05:38. | |
change in terms of the elections, change and no change depending on | :05:39. | :05:42. | |
which way you look at it, but crucially, Iran is able to look | :05:43. | :05:45. | |
further afield after lifting of sanctions, it is back in from the | :05:46. | :05:49. | |
cold. It has more opportunities. Opportunities that don't rely on the | :05:50. | :05:55. | |
United States? I think so. The incumbent president won a resounding | :05:56. | :05:59. | |
victory on Friday. There was 72% voter turn-out, he won nearly 60% of | :06:00. | :06:04. | |
the vote and elections are a rare occurrence in the Middle East and | :06:05. | :06:07. | |
don't take place in Saudi Arabia. So in some ways it was an opportunity | :06:08. | :06:11. | |
for Iran to put their best foot forward and demonstrate that they | :06:12. | :06:14. | |
are not simply the malign influence in the Middle East that Donald Trump | :06:15. | :06:19. | |
has portrayed them as in his speech. So where will Iran are looking next? | :06:20. | :06:24. | |
Europe is the key destination. The fact that President Trump has so | :06:25. | :06:29. | |
quickly alined himself with a particular Saudi view of how the | :06:30. | :06:33. | |
Middle East should be alined has opened up space for Iran to really | :06:34. | :06:37. | |
re-engage with Europe at' deeper level of foreign policy and say that | :06:38. | :06:41. | |
not only are there potential economic opportunities, but there is | :06:42. | :06:45. | |
an opportunity to create a more constructive agenda for relations in | :06:46. | :06:50. | |
the Middle East at large and president Rahane was re-elected | :06:51. | :06:53. | |
because the Iranian people believe that he is able to advocate for them | :06:54. | :06:56. | |
on that stage. Really interesting stuff. It's a fascinating one for us | :06:57. | :07:02. | |
to follow. It is really good to talk to you. | :07:03. | :07:13. | |
Let's take a look at some of the other stories making the news. | :07:14. | :07:16. | |
The Japanese technology and telecoms giant Softbank says it has closed | :07:17. | :07:18. | |
the first part of its massive investment fund after having | :07:19. | :07:21. | |
Masayoshi Son who is the company's founder only launched it in October. | :07:22. | :07:25. | |
Apple, Foxconn and the soverign wealth funds of Saudi Arabia | :07:26. | :07:28. | |
and the United Arab Emirates are amongst those to have committed | :07:29. | :07:30. | |
money to the fund which aims to invest make long-term investments | :07:31. | :07:32. | |
Airbus has appointed a panel of independent consultants after UK | :07:33. | :07:37. | |
regulators launched a bribery investigation looking | :07:38. | :07:39. | |
The aerospace firm says that the panel | :07:40. | :07:59. | |
which consists of former European ministers will be given access | :08:00. | :08:01. | |
The UK Serious Fraud Office's investigation follows a similar | :08:02. | :08:05. | |
Leaked documents have revealed the ethical policies carried out | :08:06. | :08:08. | |
According to the Guardian newspaper, the company does NOT instruct | :08:09. | :08:12. | |
employees to remove content showing violent death, | :08:13. | :08:13. | |
The news comes amid calls for Facebook to play a bigger role | :08:14. | :08:17. | |
in censoring content which some users may find offensive. | :08:18. | :08:19. | |
A quick look at the Business Live page for you. There is one story in | :08:20. | :08:25. | |
town as far as the United States is concerned. Ford relaying their Chief | :08:26. | :08:32. | |
Executive Mark Fields. It follows a major reshuffle at the car maker. | :08:33. | :08:35. | |
The New York Times now reporting this. This comes after poor sales, | :08:36. | :08:41. | |
falling profits for the car maker, a 40% decline in its share price. So | :08:42. | :08:46. | |
Ford's boss out it seems. We will talk more about that later. | :08:47. | :08:56. | |
Let us focus on Hong Kong's flagship airline Cathay Pacific | :08:57. | :08:59. | |
is going to carry out it's biggest shake-up in 20 years. | :09:00. | :09:01. | |
It means hundreds of job losses and comes after last years losses | :09:02. | :09:04. | |
which were only the third full year losses in its seven | :09:05. | :09:07. | |
So another reshuffle, Cathay really trying to do something different | :09:08. | :09:16. | |
after that significant loss? Yes, you have to remember this is under | :09:17. | :09:24. | |
its new CEO as well. They're getting rid of 600 employees as part of this | :09:25. | :09:31. | |
revamp. Now, remember this is Cathay is Asia's biggest airline. 600 jobs | :09:32. | :09:35. | |
going away, the majority of whom will actually be told today and most | :09:36. | :09:40. | |
of these will be back office staff, no pilots, no crew and no front line | :09:41. | :09:45. | |
staff will be affected, but a quarter of management positions at | :09:46. | :09:49. | |
the headquarters will go. Cathay are trying to get back into the black. | :09:50. | :09:54. | |
They're hoping for cost savings. 30% from these measures and they say | :09:55. | :09:59. | |
they expect a restructuring to be done by the end of the year. Air | :10:00. | :10:02. | |
traffic is growing quickly, but there is a lot of competition and a | :10:03. | :10:06. | |
lot of budget carriers and other premium airlines from the Middle | :10:07. | :10:09. | |
East are coming into the scene and people are not paying for first | :10:10. | :10:14. | |
class seats as well. So while the passenger traffic is growing, the | :10:15. | :10:19. | |
margins are going very low for Cathay and the other premium | :10:20. | :10:23. | |
carriers in this region. Thanks, Chris teen. We know well the | :10:24. | :10:27. | |
difficulties some major airlines are facing in the current markets. It is | :10:28. | :10:34. | |
extremely competitive right now. A good session for markets in Asia. | :10:35. | :10:39. | |
Following on from a strong close in Wall Street and Europe. Oil stocks | :10:40. | :10:42. | |
doing well and energy shares doing well. The price of oil edging | :10:43. | :10:47. | |
higher. We have got an Opec decision expected in Vienna and many are | :10:48. | :10:50. | |
betting they will continue production cuts for longer and | :10:51. | :10:53. | |
perhaps even more so. So that's pushing. The price of oil. Let's | :10:54. | :10:59. | |
look at Europe right now. We have got the Greece discussions about its | :11:00. | :11:02. | |
debts happening today in Brussels. There is talks that they may talk | :11:03. | :11:08. | |
about Brexit divorce bills today in Brussels. We shall see about that. | :11:09. | :11:11. | |
That's possibly a speculation. You can see Europe mixed, but also, of | :11:12. | :11:16. | |
course, we've got Federal Reserve minutes released on Wednesday. There | :11:17. | :11:18. | |
is a lot happening this week. And Samira Hussain has | :11:19. | :11:22. | |
the details about what's ahead Joining us is Trevor Greetham, | :11:23. | :11:24. | |
Head of multi asset at Royal London Deere will be reporting on Friday. | :11:25. | :11:38. | |
So low farm income in North America, its biggest market will weigh on | :11:39. | :11:42. | |
sales. But, profits are expected to get a boost because of cost-cutting | :11:43. | :11:47. | |
measures including lowering job cuts and lowered production taking in the | :11:48. | :11:54. | |
previous years. The world's largest soup maker Campbell will be | :11:55. | :12:04. | |
reporting earnings. But Campbell's See Fresh Business was hit by an | :12:05. | :12:08. | |
early harvest of baby carrots and the company had already said last | :12:09. | :12:15. | |
quarter that it does not its See Fresh Business to grow for the rest | :12:16. | :12:17. | |
of the year. Joining us is Trevor Greetham, | :12:18. | :12:19. | |
Head of multi asset at Royal London Let's talk Greece. Eurozone | :12:20. | :12:31. | |
ministers start talking about the next round of debt relief because | :12:32. | :12:35. | |
some loans come due in July? That's right. There is 7 billion euros due | :12:36. | :12:42. | |
in July and the talks are about is whether the various creditors can | :12:43. | :12:45. | |
agree to lend Greece money to pay back some of the earlier debts that | :12:46. | :12:50. | |
it owes and in particular the IMF, the International Monetary Fund for | :12:51. | :12:54. | |
which Greece is the biggest ever bail out they have got involved in, | :12:55. | :12:58. | |
they want Europe to shoulder more of the burden by extending the dur rags | :12:59. | :13:03. | |
of the loans and basically allowing Greece to spend more time to pay the | :13:04. | :13:07. | |
money back. Will the IMF achieve that goal and get more help from | :13:08. | :13:11. | |
Europe as it were or will Germany and others keep digging their feet | :13:12. | :13:17. | |
in? Greece was asked to do various reforms. Now it is the creditors | :13:18. | :13:22. | |
agreeing amongst themselves what Europe has to do to get the IMF | :13:23. | :13:26. | |
money in. It seems likely it will happen. It is worth bearing in mind | :13:27. | :13:30. | |
the Greek economy is 25% smaller than it was ten years ago. It hadn't | :13:31. | :13:35. | |
grown for the last five years. We have got unemployment of 23% and | :13:36. | :13:39. | |
really to make the euro area work you probably need to see more | :13:40. | :13:42. | |
leaning in from other European countries when a country is in | :13:43. | :13:45. | |
difficulty and Greece seems quite small, but Italy is out there and | :13:46. | :13:48. | |
that's a big country with lots of debt as well. A lot of speculation | :13:49. | :13:52. | |
that Germany, that was always the hardliner as far as what Greece | :13:53. | :13:57. | |
needed to do in return for the money might be softening? I wouldn't call | :13:58. | :14:02. | |
it softening! There is a likelihood that I think that the Greek debts | :14:03. | :14:06. | |
will be extended to 20 years. The IMF was asking if they could cap or | :14:07. | :14:10. | |
freeze the amount they have to pay back each year and the Germans are | :14:11. | :14:14. | |
opposing that. So it is a bit of hard and soft. I think there will be | :14:15. | :14:18. | |
a deal. People are putting it at 50/50 today. We have a quietish week | :14:19. | :14:23. | |
this week, but I say that today, it's Monday and anything can happen! | :14:24. | :14:26. | |
But what are you watching out for? What's on your radar as we head | :14:27. | :14:30. | |
towards the summer months? We have got an election in June. There is a | :14:31. | :14:34. | |
lot going on. The markets are generally more prone to shocks and | :14:35. | :14:39. | |
moved side ways over the summers, so what we're looking out for are signs | :14:40. | :14:44. | |
of what is going on in China, it looks like the economy is slowing | :14:45. | :14:48. | |
down, we are concerned about geopolitical shocks. I think it will | :14:49. | :14:53. | |
be an opportunity to buy dips over the summer, the stock markets pay | :14:54. | :14:56. | |
pull back. The longer term picture is looking good because interest | :14:57. | :15:00. | |
rates are low and the reason there has been an eight year expansion is | :15:01. | :15:06. | |
wage inflation which is low. Central banks are relaxed to keep the money | :15:07. | :15:13. | |
flowing. Oil back up. It's about $54 a barrel | :15:14. | :15:17. | |
for the first time in a month. But could it be the next | :15:18. | :15:20. | |
big musical invention. With some of the biggest | :15:21. | :15:25. | |
names in music trying to get their hands on it - | :15:26. | :15:27. | |
we meet the man behind Stay tuned and we will explain how | :15:28. | :15:30. | |
all of this works. 9,000 people who lost money | :15:31. | :15:56. | |
on shares in Royal Bank of Scotland begin a High Court action today | :15:57. | :15:59. | |
demanding compensation from the bank and four former directors | :16:00. | :16:01. | |
including Fred Goodwin. The claimants say they were misled | :16:02. | :16:03. | |
by the bank when it sought to raise ?12 billion from shareholders | :16:04. | :16:08. | |
in April 2008, a few months before it had to be rescued by taxpayers | :16:09. | :16:11. | |
because it was running out of money. Our economics correspondent, and the | :16:12. | :16:24. | |
Verity, is in the newsroom. We have run through the headlines, but | :16:25. | :16:29. | |
explain what we're talking about. Fred the shred will not be there | :16:30. | :16:33. | |
today but he will be appearing on polling day. He is a presence there | :16:34. | :16:40. | |
because he was in charge of Royal Bank of Scotland, which also | :16:41. | :16:42. | |
contains NatWest, in 2008 when it ran into big problem lie trouble. -- | :16:43. | :16:51. | |
into big trouble. Tens of thousands of shareholders were asked to put | :16:52. | :16:55. | |
their hands into their pockets in April of 2008, the biggest | :16:56. | :17:00. | |
fundraising exercise ever at the time. They asked employees of the | :17:01. | :17:05. | |
bank, who were offered loans in order to buy those shares. What | :17:06. | :17:09. | |
happened is the shareholders say that they were misled because there | :17:10. | :17:13. | |
are misleading statements in the prospectus for that fundraising and | :17:14. | :17:16. | |
there were also serious omissions. They were not told that internally | :17:17. | :17:21. | |
the bank knew that if it could not borrow on the money markets, it | :17:22. | :17:25. | |
could run out of money within a day. The shareholders say that obviously | :17:26. | :17:27. | |
if they had been told that, they would not have handed over the money | :17:28. | :17:30. | |
and the rights issue would not have happened. These things take a long | :17:31. | :17:36. | |
time to come to court. RBS has been trying to settle with people even as | :17:37. | :17:40. | |
recently as this weekend but so far it seems they have not succeeded | :17:41. | :17:47. | |
completely. Do we know how this will play out? Those who were looking for | :17:48. | :17:51. | |
compensation asking for over ?500 million in compensation. What is | :17:52. | :17:54. | |
likely to be the outcome? Do we know? It depends on whether the bank | :17:55. | :18:01. | |
would succeed in settling. They have a strong case, the shoulders. RBS | :18:02. | :18:05. | |
will say that they are going to defend this vigorously. They think | :18:06. | :18:08. | |
they have a strong case to answer. But obviously we have a whole bunch | :18:09. | :18:13. | |
of bad news from the past which is going to come back up and the bank | :18:14. | :18:17. | |
really does not want that. It does not want Fred the Shreds to be | :18:18. | :18:26. | |
appearing. This is business life. President Trump is on his way out of | :18:27. | :18:30. | |
Saudi Arabia and he has done serious deals. He is heading to Israel now. | :18:31. | :18:40. | |
A quick look at other markets are faring. A quiet start to the week | :18:41. | :18:48. | |
but we will keep an eye on how the numbers are performing. The pound | :18:49. | :18:57. | |
against the dollar, nearly $1. Now let's have a musical interlude. | :18:58. | :19:06. | |
Our next guest is the man behind this - | :19:07. | :19:09. | |
the Seaboard - it's a futuristic version of the piano. | :19:10. | :19:11. | |
It lets you press down parts of the keys to change how they sound. | :19:12. | :19:14. | |
His firm has already raised nearly $30 million in funding, | :19:15. | :19:17. | |
attracting interest from musicians as diverse as Stevie Wonder | :19:18. | :19:21. | |
and German composer Hans Zimmer - famous for his music scores. | :19:22. | :19:24. | |
Entrepreneur Roland Lamb is the founder and chief executive | :19:25. | :19:27. | |
of ROLI and the inventor of the Seaboard. | :19:28. | :19:30. | |
His childhood was far from ordinary - Roland was home schooled | :19:31. | :19:32. | |
in rural New Hampshire, learning the piano early - | :19:33. | :19:38. | |
his jazz pianist father taught him when he was a toddler. | :19:39. | :19:41. | |
He started his first business - a jazz cafe for students - | :19:42. | :19:44. | |
while attending Summerhill, an alternative British school. | :19:45. | :19:45. | |
Roland's mixed globe-trotting and studying, learning Buddhism | :19:46. | :19:47. | |
in Japan, working as a visual artist and a jazz musician around the world | :19:48. | :19:50. | |
before settling in USA, to study classical Chinese | :19:51. | :19:52. | |
Roland moved back to the UK to study again, earning | :19:53. | :20:01. | |
a PhD in Design Products, where he dreamt up a new type | :20:02. | :20:04. | |
of keyboard, a futuristic instrument called the Seaboard. | :20:05. | :20:07. | |
In 2013, he built his first prototype and founded his | :20:08. | :20:11. | |
I am out of breath, there are so many things on your CV! Lets just | :20:12. | :20:20. | |
introduced the man. Welcome, Rowland. That is an incredible CV. I | :20:21. | :20:24. | |
want to ask you about all the other stuff. Tell us what it is and how it | :20:25. | :20:33. | |
works. This is our newest product, and it is an abolition of the | :20:34. | :20:37. | |
concept I developed Kolbe Seaboard. As a jazz musician, when I play the | :20:38. | :20:42. | |
piano, I wanted more expression and I was jealous of the saxophone | :20:43. | :20:49. | |
players and guitarists and so on. I came up with the idea of the | :20:50. | :20:53. | |
Seaboard, and now it is used by musicians all around the world to | :20:54. | :20:56. | |
add expression to how they play. But I wanted to make this more | :20:57. | :21:02. | |
expressible -- accessible, because acoustic measurements are difficult | :21:03. | :21:05. | |
to learn. Electronic music is still quite technical so we built this, | :21:06. | :21:11. | |
which uses the same technology as the Seaboard, meaning you can use | :21:12. | :21:15. | |
intuitive gestures to vary the pitch and volume of what you are playing, | :21:16. | :21:19. | |
so rather than being an on off note, you will not quite hear the down | :21:20. | :21:22. | |
note but you might get some sense of it. As press, I am changing the | :21:23. | :21:28. | |
timbre and I add vibrato. And then the lights can guide me. It can | :21:29. | :21:36. | |
enable me to play different scales. Basically this takes that more | :21:37. | :21:39. | |
expressive technology of the Seaboard and put it in everyone's | :21:40. | :21:43. | |
hands. Does anyone else do something similar? There are so many | :21:44. | :21:49. | |
synthesisers and electronic gadgets that replicate musical instruments | :21:50. | :21:54. | |
out there, there are loads. Does anyone else do that where you can | :21:55. | :21:57. | |
use your finger to create the expression as you described? Not | :21:58. | :22:04. | |
really. There are a few different instrument makers picking about this | :22:05. | :22:09. | |
problem of how we make electronic music more expressive. There is a | :22:10. | :22:14. | |
fellow called Roger Linn who developed the drum machine, and | :22:15. | :22:17. | |
there are people who have worked on this but we are the first company | :22:18. | :22:22. | |
leading the charge, trying to bring the depth of expression of acoustic | :22:23. | :22:27. | |
instruments into the world of the digital, because that sound was just | :22:28. | :22:32. | |
being controlled by my thumb, which means I can leveraged everyone's | :22:33. | :22:36. | |
some as a musical device. Just by adding on a very expressive | :22:37. | :22:39. | |
controller. The point is that that is scalable and you can attach these | :22:40. | :22:44. | |
panels, you can make a bigger. That's right, it is a modular system | :22:45. | :22:48. | |
so if I connect in another block, it will sync with this and then I can | :22:49. | :22:51. | |
do other things, so for example I was just saying about the different | :22:52. | :22:54. | |
scales, no if our press this button is which is the lighting, or I can | :22:55. | :23:01. | |
use it to record play. I can use this for expressive performance and | :23:02. | :23:05. | |
also production. So the likes of Stevie Wonder and others have got | :23:06. | :23:09. | |
the Seaboard, which is more like piano keyboard, more like what | :23:10. | :23:15. | |
pianists are used to using. But that is totally different. I tried to | :23:16. | :23:18. | |
play that in the green room and I got nowhere. It was bizarre. | :23:19. | :23:26. | |
Definitely it is new. For electronic musicians, like Steve Aoki and other | :23:27. | :23:34. | |
DJs, they are already using blocks, but for traditional musicians it is | :23:35. | :23:38. | |
a little bit of a jump, if you know the piano for example it is a jump | :23:39. | :23:41. | |
to come to something like this that is laid out so differently. Briefly, | :23:42. | :23:46. | |
you have attracted a lot of funding already. What will you do with the | :23:47. | :23:49. | |
next round of funding? We are continuing to build out this system | :23:50. | :23:52. | |
of blocks, it is modular so we can of blocks, it is modular so we can | :23:53. | :23:55. | |
have other blogs that fit into the system and we can focus on the | :23:56. | :24:00. | |
development of the app. We have just launched on android last week, and | :24:01. | :24:06. | |
so getting the app onto more forms is the next. It is so good to see | :24:07. | :24:10. | |
what I want to ask you so many other but time is brief as always. I know | :24:11. | :24:14. | |
we did not quite do it justice with the sound but it sounds much more | :24:15. | :24:17. | |
professional elsewhere. Better than my attempts in the green room. But | :24:18. | :24:25. | |
then he is the pro! Here are some top tips for those who want to run a | :24:26. | :24:32. | |
business. The business live website will keep you up-to-date with all | :24:33. | :24:38. | |
the news from the BBC's team of editors around the world. And we | :24:39. | :24:41. | |
want to hear from you. Get involved on the BBC business live web page: | :24:42. | :24:48. | |
And you can find us on Facebook, at BBC business use. -- BBC business | :24:49. | :25:06. | |
news. Dominic is joining us from our business team. He is quite known in | :25:07. | :25:17. | |
the UK, because he ran for for quite a long time. He is best-known for | :25:18. | :25:23. | |
hairdo, Mark Fields. He had a mullet hairdo that would have made Chris | :25:24. | :25:27. | |
Waddle the football approach. He has lost it as he has become more | :25:28. | :25:33. | |
senior. He is a big car enthusiast. Why is he going? He has been trying | :25:34. | :25:37. | |
to restructure Ford. He took over from Alan Mullally, who saved for | :25:38. | :25:42. | |
from a financial crisis. He is the only one who did not go to the US | :25:43. | :25:45. | |
government for assistance during the financial crisis. Mullally remade it | :25:46. | :25:52. | |
been trying to get across rudderless been trying to get across rudderless | :25:53. | :25:55. | |
cards and the Ford boards do not think is going across fast enough. | :25:56. | :26:02. | |
-- he has been trying to get across driverless cars. Thank you for your | :26:03. | :26:03. | |
time this morning. Bye-bye. Good morning. May is technically a | :26:04. | :26:15. | |
spring month but I have to say, through the week ahead it is often | :26:16. | :26:21. | |
going to feel like summer. This is how the week started for | :26:22. | :26:23. |