Browse content similar to 15/06/2017. Check below for episodes and series from the same categories and more!
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Philip Hammond is also expected to use his annual speech | :00:16. | :00:18. | |
to the City of London to guarantee billions of dollars | :00:19. | :00:21. | |
of EU spending on infrastructure projects. | :00:22. | :00:25. | |
Also in the programme, the United States raises interest | :00:26. | :00:28. | |
With the Bank of England meeting today, | :00:29. | :00:37. | |
And with lots for investors to digest this Thursday, | :00:38. | :00:44. | |
we'll run you through what's moving the numbers and why. | :00:45. | :00:50. | |
Hello, you heard Ben but you are seeing me! | :00:51. | :00:55. | |
Security at your fingertips - we'll meet the man who says | :00:56. | :00:58. | |
the key to online safety could be in your own hands. | :00:59. | :01:00. | |
And as digital video sales could overtake DVD | :01:01. | :01:02. | |
We want to know, do you still buy your movies on disc? | :01:03. | :01:06. | |
Sally Hodkin the limelight, I don't know! Welcome to the programme. | :01:07. | :01:24. | |
It's less than a week since the UK woke up to an election result | :01:25. | :01:28. | |
that plunged it into even deeper political and economic uncertainty. | :01:29. | :01:33. | |
Prime Minister Theresa May still hasn't finalised an agreement | :01:34. | :01:35. | |
with the Northern Irish Democratic Unionist Party which would allow her | :01:36. | :01:38. | |
But away from those talks, the pressure is mounting | :01:39. | :01:41. | |
on the Government to lay out a strategy for Brexit negotiations. | :01:42. | :01:45. | |
Tonight the Chancellor, or finance minister, Philip Hammond, | :01:46. | :01:47. | |
could give us some idea of what is planned. | :01:48. | :01:53. | |
He's expected to say that $61bn of funds from the | :01:54. | :01:55. | |
European Union's investment bank will not be put at risk. | :01:56. | :01:58. | |
It currently provides funding for major infrastructure projects | :01:59. | :02:02. | |
across the EU, including here in the UK | :02:03. | :02:04. | |
for the Crossrail train line in London, | :02:05. | :02:06. | |
and tram networks in Nottingham and Manchester. | :02:07. | :02:10. | |
He's also expected to signal there may be some room to negotiate | :02:11. | :02:13. | |
when it comes to keeping the country in the EU's customs union. | :02:14. | :02:18. | |
Staying in that union would allow businesses | :02:19. | :02:20. | |
to continue their existing two-way relationship | :02:21. | :02:21. | |
And that's vital because the EU is the UK's biggest export market. | :02:22. | :02:29. | |
Morning. Good morning, Sally. You have blogged about this, quite a | :02:30. | :02:49. | |
change in tone coming from the UK, how is this likely to go down in the | :02:50. | :02:55. | |
EU? Well, the EU will probably welcome this. The Chancellor in the | :02:56. | :03:02. | |
UK, Philip Hammond, is close to Wolfgang Schaeuble, the fine and | :03:03. | :03:05. | |
minister in Germany, and both sides of the fence on Brexit want a good | :03:06. | :03:10. | |
deal for the economy, and I think the worry in the UK has been, up | :03:11. | :03:14. | |
until the general election, as Ben said, when Theresa May was somewhat | :03:15. | :03:21. | |
weakened in a position in Britain, taking back control, sovereignty, | :03:22. | :03:24. | |
immigration will be the leading issues around Brexit. Philip | :03:25. | :03:28. | |
Hammond, I think, supported by Germany and France, once the | :03:29. | :03:31. | |
economy, jobs, business at the centre of the negotiations, which | :03:32. | :03:37. | |
some describe us as going towards a softer Brexit. Mist Hammond, in | :03:38. | :03:41. | |
Britain, does want a more porous relationship with the single market, | :03:42. | :03:45. | |
the possibility at least of some form of membership of the customs | :03:46. | :03:50. | |
union, although that is very complicated, and today he has sent a | :03:51. | :03:53. | |
big signal to businesses in the UK that the Government will stand | :03:54. | :03:57. | |
behind the European Investment Bank's investments in Britain. Some | :03:58. | :04:02. | |
people thought it was at risk because of our departure from the | :04:03. | :04:08. | |
EU. The EIB does fund projects outside of the EU, but 90% of the | :04:09. | :04:12. | |
funding is for member states, and there is a fear that the funding | :04:13. | :04:17. | |
could dry up in Britain. So presumably business leaders welcome | :04:18. | :04:20. | |
this news, some breathing a sigh of relief, in fact! It is a small step, | :04:21. | :04:27. | |
but a change of tone. Business as largely felt to have been locked out | :04:28. | :04:32. | |
of any approach to Brexit in the UK. I think now they hope there will be | :04:33. | :04:36. | |
a change of tone, I think the speech tonight will reveal something of | :04:37. | :04:40. | |
that change, if the EIB announcement reveals the first steps on that. | :04:41. | :04:45. | |
What does this say about the Chancellor and the Prime Minister, | :04:46. | :04:48. | |
and where they are both that? Because she has been quite different | :04:49. | :04:51. | |
in her stance, until the general election - I will be a bloody | :04:52. | :04:55. | |
difficult woman to deal with, looking at no dealers better than a | :04:56. | :05:01. | |
bad deal, all that rhetoric. It is a very different message from these | :05:02. | :05:05. | |
two Keely does. She is treading a very difficult line. -- two key | :05:06. | :05:14. | |
leaders. Others would argue for a clean Brexit, what some would | :05:15. | :05:17. | |
describe as a hard Brexit, Liam Fox for example, the Cabinet minister | :05:18. | :05:23. | |
responsible for international trade. He wants Britain to be able to sign | :05:24. | :05:27. | |
strong deals with countries like China, India and America. If we are | :05:28. | :05:32. | |
in the customs union, that could curtail Britain's ability to do that | :05:33. | :05:38. | |
type of deal. She has got Liam Fox, Michael Gove, Boris Johnson, who are | :05:39. | :05:42. | |
all pushing towards a clean Brexit. She has to balance those two things, | :05:43. | :05:46. | |
and that is the difficulty she finds herself in. Also, she does not have | :05:47. | :05:52. | |
the majority in the house of parliament. The EU know that, and | :05:53. | :05:57. | |
that has put more power, many people think, in the EU's hands, rather | :05:58. | :06:03. | |
than Britain's hands. We will see if we get that clarity later tonight, | :06:04. | :06:06. | |
we will be watching and listening, thank you. | :06:07. | :06:08. | |
Let's take a look at some of the other stories making the news. | :06:09. | :06:11. | |
The Chinese regulators have fined Emirates for two safety incidents | :06:12. | :06:13. | |
that took place over the western region of Xinjing. | :06:14. | :06:17. | |
The Gulf carrier was fined just over $4,000 and | :06:18. | :06:19. | |
banned from adding new routes or aircraft in China for six months. | :06:20. | :06:23. | |
China's Civil Aviation Administration says Emirates pilots | :06:24. | :06:25. | |
were found to have flown an aircraft at the wrong altitude | :06:26. | :06:27. | |
and temporarily lost contact with air-traffic control. | :06:28. | :06:34. | |
The International Civil Aviation Agency says it's reviewing | :06:35. | :06:38. | |
a request from Qatar to intervene in the dispute with its | :06:39. | :06:41. | |
Gulf neighbours after they closed their airspace to Qatari flights. | :06:42. | :06:47. | |
Saudi Arabia, the UAE, Bahrain and Egypt | :06:48. | :06:50. | |
have cut diplomatic and transport ties with Qatar, | :06:51. | :06:51. | |
accusing it of supporting terrorism. | :06:52. | :06:55. | |
Volkswagen says it will offer a two-year guarantee on cars that | :06:56. | :06:57. | |
were modified to remove a device designed to cheat emissions tests. | :06:58. | :07:02. | |
say the modifications affect performance and reliability. | :07:03. | :07:11. | |
The European Commission has been putting pressure on VW | :07:12. | :07:13. | |
to compensate customers over the scandal, | :07:14. | :07:14. | |
as they have done in the US, but the company has so far refused. | :07:15. | :07:23. | |
To Asia now, on what was supposed to be a big day | :07:24. | :07:25. | |
for struggling Japanese tech giant Toshiba. | :07:26. | :07:29. | |
It was due to announce who will buy its memory-chip unit. | :07:30. | :07:33. | |
Toshiba's been forced to sell off the business to raise money | :07:34. | :07:35. | |
and the near-collapse of its US nuclear division. | :07:36. | :07:39. | |
Rupert Wingfield-Hayes is in Tokyo with the details. | :07:40. | :07:52. | |
Rupert, talk us through this massive obstacle for Toshiba to go ahead | :07:53. | :08:02. | |
with the sale of the chip unit. Yes, Sally, getting increasingly | :08:03. | :08:05. | |
complicated. What was already a congregated story now has another | :08:06. | :08:12. | |
spanner in the works because Western Digital, a large US corporation that | :08:13. | :08:15. | |
makes computer memory and has a large joint venture with Toshiba in | :08:16. | :08:20. | |
Japan, that company's management has filed a court action in California | :08:21. | :08:29. | |
to block the sale of Toshiba's flash memory division. Toshiba say it is | :08:30. | :08:33. | |
still hoping to go air and and announce a preferred for that | :08:34. | :08:38. | |
division by its meeting at the end of this month. -- to go ahead. But | :08:39. | :08:42. | |
it now faces a legal obstacle because of this injunction filed by | :08:43. | :08:46. | |
Western Digital. Western Digital had already filed for arbitration, a | :08:47. | :08:52. | |
process that could take, I understand, up to two years, but | :08:53. | :08:56. | |
Toshiba wants to make this sale quickly, get it over and done with | :08:57. | :08:59. | |
as soon as possible, because it wants to pay off it's debt to the | :09:00. | :09:04. | |
United States, so it does not want to go through this process, but this | :09:05. | :09:07. | |
looks like another big barrier to them going out and selling that | :09:08. | :09:11. | |
memory division. A story that will run and run, Rupert, for now, thank | :09:12. | :09:15. | |
you very much, Rupert Wingfield-Hayes in Tokyo for you. | :09:16. | :09:20. | |
Staying in Japan, the stock market fell in pretty volatile trade | :09:21. | :09:22. | |
overshadowed the rise in interest rates | :09:23. | :09:26. | |
Also worries over those reports | :09:27. | :09:31. | |
that US President Donald Trump is being investigated for possible | :09:32. | :09:34. | |
In Hong Kong, authorities raised its base rate by 25 basis points - | :09:35. | :09:43. | |
In the UK, confirmation yesterday that wages | :09:44. | :09:48. | |
are lagging way behind inflation, so a further squeeze on incomes. | :09:49. | :09:54. | |
well below the inflation rate of 2.7% for that month. | :09:55. | :10:03. | |
In 45 minutes, we get the latest UK retail-sales figures for last month, | :10:04. | :10:07. | |
and at midday a decision on interest rates. | :10:08. | :10:13. | |
No change expected, with rates already at record lows of 0.25%, | :10:14. | :10:17. | |
given the looming uncertainty politically and economically. | :10:18. | :10:22. | |
More on that shortly, but first in the US, | :10:23. | :10:24. | |
has Samira has a look at the day ahead for US markets. | :10:25. | :10:29. | |
On Thursday, the chief executive of United Airlines | :10:30. | :10:31. | |
Oliver Munoz has had to grapple with some high-profile | :10:32. | :10:40. | |
public-relations fiascoes in the last few months, | :10:41. | :10:41. | |
including the forceful removal of a paying customer | :10:42. | :10:44. | |
Well, that incident prompted an industrywide conversation | :10:45. | :10:51. | |
on customer service and passenger rights. | :10:52. | :10:57. | |
In earnings news, Kroger will be reporting first-quarter results. | :10:58. | :11:03. | |
Now, the supermarket operator warned back in March that full-year | :11:04. | :11:05. | |
sales could fall by 1%, and that is because competition | :11:06. | :11:08. | |
Walmart continues to beef up its grocery offerings, | :11:09. | :11:13. | |
and new entrants, like German grocery chain Aldi, | :11:14. | :11:15. | |
are racing to offer the lowest possible prices. | :11:16. | :11:23. | |
That was Samira in New York for us. We have got Mike Amey, a managing | :11:24. | :11:31. | |
director and portfolio manager at Pimco, nice to see you. Let's start | :11:32. | :11:37. | |
by talking about the UK, because the Bank of England has got its meeting, | :11:38. | :11:41. | |
Mark Carney has not spoken for a month publicly, and a lot has | :11:42. | :11:45. | |
happened since he last met with his team. That is right, there has | :11:46. | :11:49. | |
obviously been the election result, quite a lot of political uncertainty | :11:50. | :11:54. | |
out there, and some of the data has been more mixed in the UK as well, | :11:55. | :11:59. | |
some of the activity data has been lower than expected, and | :12:00. | :12:02. | |
unfortunately inflation has been higher, so what they will tell us | :12:03. | :12:07. | |
that they don't really know, there is a lot of uncertainty out there, I | :12:08. | :12:11. | |
think their preference is to do nothing, to wait and see how things | :12:12. | :12:15. | |
develop. A lot of people saying that the UK economy needs attention now, | :12:16. | :12:21. | |
you know? Well, it has slowed, and as Benjamin Micra mentioned, there | :12:22. | :12:23. | |
is this challenge, we are all feeling the squeeze on wages. So | :12:24. | :12:32. | |
that is quite a challenge. The view is that the economy needs support. | :12:33. | :12:37. | |
Interesting in light of the squeeze on incomes, inflation rising more | :12:38. | :12:40. | |
than wages, we will get retail sales figures, and they are backward | :12:41. | :12:45. | |
looking, retrospective, but it will give us an idea of what is happening | :12:46. | :12:49. | |
in that predicted slowdown. That is right, retail sales have been | :12:50. | :12:52. | |
slowing for a while now, the volume of retail sales spending growing at | :12:53. | :12:57. | |
about 2% a year, having been running at 3-4%. So you are seeing in the | :12:58. | :13:02. | |
data the fact that people are feeling the squeeze. A quick word on | :13:03. | :13:05. | |
the US Federal Reserve, delivering what most people predicted, but | :13:06. | :13:10. | |
interesting that it will start getting the US economy of the drip | :13:11. | :13:13. | |
of quantitative easing. Indeed, that is better news, the US is ahead of | :13:14. | :13:23. | |
us in the cycle, and they are saying is on reducing the amount of money | :13:24. | :13:27. | |
they pumped into the system, so they cut interest rates previously, | :13:28. | :13:32. | |
printing money, and now the message is a bit more positive. Thank you, | :13:33. | :13:37. | |
Mike, we shall see later, have a think about the last DVD you bought! | :13:38. | :13:43. | |
Lots of comments from you about the seal of DVD sales expecting to fall | :13:44. | :13:49. | |
significantly in the next few yes. Contrasting that with streaming | :13:50. | :13:54. | |
services, more of us streaming movies, downloading, not buying | :13:55. | :13:56. | |
physical DVDs, keep your comments coming. | :13:57. | :14:00. | |
keeping you safe online, without passwords or fingerprints. | :14:01. | :14:03. | |
We'll meet the man who says his firm can detect whether | :14:04. | :14:06. | |
just by how you use your smartphone or keyboard. | :14:07. | :14:12. | |
It is pretty clever stuff, we will talk about that a little later! | :14:13. | :14:15. | |
You're with Business Live from BBC News. | :14:16. | :14:24. | |
It might be too early for a glass of frying, pens, maybe you think it is | :14:25. | :14:32. | |
the right time! Majestic is porting about how well it has done. ?1.5 | :14:33. | :14:38. | |
million of losses. -- it might be too early for a glass of wine, | :14:39. | :14:47. | |
dependence. -- depends. What we can speak with you about this | :14:48. | :14:57. | |
interesting set of figures, direct marketing in the US, last year, tell | :14:58. | :15:00. | |
us about this year, are things looking up? Things are looking up, | :15:01. | :15:05. | |
the second half tells the story, profits up 51%, you mentioned the | :15:06. | :15:09. | |
profits for the year, reported accounting profits are showing a | :15:10. | :15:14. | |
loss. The key reason for that, there is a big purchase of naked wines, | :15:15. | :15:21. | |
which is an asset that is appreciating in value. -- Naked | :15:22. | :15:25. | |
Wines. Look at the operating profit level, they are up for the second | :15:26. | :15:29. | |
half significantly, that is a good predictor of what is the potential | :15:30. | :15:33. | |
to the business. To what extent were you affected by the weakness of | :15:34. | :15:39. | |
sterling in these numbers? The impact of Brexit, the immediate | :15:40. | :15:42. | |
impact of Brexit has been fiercely weaker currency, leading through | :15:43. | :15:47. | |
into higher wine prices, those prices have filtered through to the | :15:48. | :15:51. | |
markets. I think we see the trading picture today reflects the current | :15:52. | :15:56. | |
exchange rate environment. The bit of Brexit that nobody really | :15:57. | :15:59. | |
understands, the impact on consumer behaviour. As your previous speaker | :16:00. | :16:05. | |
was saying, if inflation runs ahead of wages, it is impossible to expect | :16:06. | :16:10. | |
it will be positive. Very briefly, how is the English wine industry | :16:11. | :16:14. | |
doing from your point of view? Are you selling a lot of it? Probably | :16:15. | :16:20. | |
doing its best since Roman times! Which just completed our first | :16:21. | :16:23. | |
crowdfunding of an English winemaker, Charles Simpson, I think | :16:24. | :16:28. | |
English wine is certainly a respectable thing to drink, that is | :16:29. | :16:33. | |
a good thing. Good to talk with you, the boss of Majestic wines. Breaking | :16:34. | :16:39. | |
story while we have time. News of another failure at Heathrow Airport. | :16:40. | :16:45. | |
Terminal three and five, people heading out of Heathrow facing | :16:46. | :16:54. | |
flight without their luggage. Full details on the BBC business life | :16:55. | :16:56. | |
page. Top story today, UK Chancellor, | :16:57. | :17:12. | |
finance minister, Philip Hammond, is to set out his vision for a | :17:13. | :17:14. | |
business-friendly Brexit, in a speech in London this evening. He's | :17:15. | :17:17. | |
likely to guarantee more than $60bn of investment in infrastructure | :17:18. | :17:17. | |
projects. -- ?6 billion. keeping an eye on. A busy day for | :17:18. | :17:32. | |
corporate data, particularly in the UK. Interest rate decision at | :17:33. | :17:37. | |
midday. In 40 minutes, the latest retail sales figures. Expected to | :17:38. | :17:43. | |
show another slowdown in consumer spending as we have discussed a | :17:44. | :17:44. | |
little earlier. Last month, a ransomware cyberattack | :17:45. | :17:58. | |
hit business all around the world. The Wannacry infection caused | :17:59. | :18:00. | |
disruption in 99 countries with health services, energy companies | :18:01. | :18:02. | |
and mobile phone operators all affected by the software. And | :18:03. | :18:04. | |
Cybercrime is estimated to have cost the global economy around 450 | :18:05. | :18:06. | |
billion dollars last year alone. So tackling these online threats is big | :18:07. | :18:08. | |
business. And there's a new technology that could stop the | :18:09. | :18:09. | |
hackers in their tracks. "Behavioural biometric | :18:10. | :18:13. | |
technology" as it's known, tries to identify unusual behaviour | :18:14. | :18:14. | |
on smartphones using information such as typing speed the force | :18:15. | :18:17. | |
applied to the touch-screen and the angle at which | :18:18. | :18:19. | |
the smartphone is held. Neil Costigan, Chief Executive | :18:20. | :18:28. | |
of BehavioSec joins me now. Your company comes as a great relief | :18:29. | :18:42. | |
to the banking sector because actually, when we find we have | :18:43. | :18:47. | |
financial fraud, the banks have to reimburse us, they carry the weight | :18:48. | :18:52. | |
of the cost and the fraud but your technology is helping. No silver | :18:53. | :19:00. | |
bullet, the industry uses every tool in its arsenal, and more and more, | :19:01. | :19:05. | |
trying to get into the frictionless way of doing it. So you are not | :19:06. | :19:13. | |
asking the user to a member complex passwords or carry tokens. From the | :19:14. | :19:17. | |
point of view of the bank, if I use an app on my smartphone to do my | :19:18. | :19:23. | |
banking, that comes with your security embedded, that provision | :19:24. | :19:30. | |
embedded, you would not... As a user I would not necessarily even know it | :19:31. | :19:35. | |
is there, but it might save the bank money. That is the case, the | :19:36. | :19:41. | |
application of it, they don't want to burden you with security, they | :19:42. | :19:45. | |
want many people to be using it, if security is seen as a friction, that | :19:46. | :19:49. | |
is a problem for them. Transparency is the keyword, user experience is | :19:50. | :19:55. | |
the keyword. That shift in mindset, from complexity and cost into more | :19:56. | :19:59. | |
user-friendly things. Talk us through how it works, this is not | :20:00. | :20:03. | |
just a case of putting in a password or scanning your fingerprint, this | :20:04. | :20:07. | |
is constantly working out that I am who I say I am while using it. A lot | :20:08. | :20:14. | |
of competition in the back end, it sounds like buzzword bingo but | :20:15. | :20:19. | |
breakthrough in AI and big data has got us to the point where this is | :20:20. | :20:23. | |
viable. You would hear rhythm, that idea has been around since the days | :20:24. | :20:28. | |
of Telegraph, it is about how hard you hit the screen, how you swipe, | :20:29. | :20:33. | |
how you move. The angle you hold it out, how you type, all that it is | :20:34. | :20:36. | |
already available in devices we have. Yes, sensors, they are all | :20:37. | :20:42. | |
there, all part of the operating system, and it is the power of the | :20:43. | :20:45. | |
computer and the consistency that has helped. You provide this | :20:46. | :20:50. | |
service, your clients are banks across Scandinavia, other parts of | :20:51. | :20:54. | |
Europe. Up to 35 million users across north-western Europe, digital | :20:55. | :20:59. | |
banks, digital platforms. This start, it was not your idea. I am a | :21:00. | :21:04. | |
veteran of the industry, I have done it 25 years, I have taken innovation | :21:05. | :21:09. | |
from Sweden to California before, I was back in Sweden working at a | :21:10. | :21:13. | |
university and undergraduate, working inside the university, had | :21:14. | :21:18. | |
the idea, and they said, we think we can verify people who they are by | :21:19. | :21:21. | |
their typing. What are they doing now? They are the founders. They | :21:22. | :21:27. | |
were on their way to New York yesterday, new office there, and the | :21:28. | :21:31. | |
guy is running the deal at the University. The reason this is so | :21:32. | :21:36. | |
useful, if you are hacked or suffer a breach, somebody knows your | :21:37. | :21:41. | |
password, this is able to stop them further down the process, it is not | :21:42. | :21:46. | |
once they are in they are in. This extra layer, it is more about | :21:47. | :21:52. | |
catching the individuals, or the knowledge thing. It is about the | :21:53. | :21:56. | |
person themselves. That is the level we have taken this to. As far as the | :21:57. | :21:59. | |
conversations you have with big financial institutions, I suppose it | :22:00. | :22:04. | |
is a cost, they will have to pay for it, but it may be... They do not pay | :22:05. | :22:09. | |
and a! LAUGHTER You want them to pay more, but it is | :22:10. | :22:14. | |
a trade-off, either they will pay it in compensation or upfront like | :22:15. | :22:16. | |
this. Security has been around forever, you'd like insurance | :22:17. | :22:21. | |
policies, you have to have it, otherwise other repercussions. What | :22:22. | :22:28. | |
was the last DVD that you bought? Or Blu-ray? I'm putting you on the | :22:29. | :22:32. | |
spot. Something for my daughter, when you are travelling. This is | :22:33. | :22:35. | |
what we are saying, apart from Ben, who did not have kiddies. It was a | :22:36. | :22:43. | |
DVD for my needs. Yes, something high quality, Pixar where you think | :22:44. | :22:48. | |
this is going to be a high-quality experience for you all, where you | :22:49. | :22:51. | |
think that it would not be as good if you downloaded. | :22:52. | :22:54. | |
Staying with technology, today is a good day for European Union mobile | :22:55. | :23:00. | |
phone customers. After years of negotiations, no longer, those | :23:01. | :23:06. | |
annoying extra fees to usual device in EU companies. But for phone | :23:07. | :23:11. | |
companies, it means the loss of a lucrative revenue flow. Dave Dyson | :23:12. | :23:16. | |
is CEO of the mobile network Three UK. He has been telling us how they | :23:17. | :23:19. | |
will make up the difference. Some operators make a lot of money out of | :23:20. | :23:23. | |
international roaming, that profit will be lost because of the new | :23:24. | :23:28. | |
regulation coming in. Critics of the scheme suggest that it is possible | :23:29. | :23:32. | |
that those companies will look to read group profits elsewhere within | :23:33. | :23:38. | |
the business. For my business, three, we have been offering | :23:39. | :23:40. | |
free-roaming for five years, we have not built up huge profits that we | :23:41. | :23:45. | |
now need to protect in some other way. Overseas companies, their | :23:46. | :23:49. | |
customers will come to the UK. One negotiating tactic is to say, if you | :23:50. | :23:53. | |
give us a great rate, we will offer you a reciprocal right when | :23:54. | :23:58. | |
customers come to the UK. We try lots of different techniques to | :23:59. | :24:01. | |
reduce the costs, whatever we do, we pass them the customer 's. David | :24:02. | :24:03. | |
Dyson, the boss of three. Netflix and Amazon are overtaking | :24:04. | :24:17. | |
the UK box office according to some research, your thoughts? Price war | :24:18. | :24:26. | |
-- this is a PricewaterhouseCoopers report. Blu-ray and DVD is going to | :24:27. | :24:33. | |
be the big loser. With streaming up 30%, ?1.4 billion every year, and | :24:34. | :24:43. | |
DVD sales will go down from 1.2. Our viewers are not convinced DVDs are | :24:44. | :24:50. | |
cheaper. Toby says, I like disks, I'm not painful pixels. I buy them | :24:51. | :24:55. | |
because the broadband companies stress me for using unlimited... | :24:56. | :25:01. | |
Internet access not good enough... This is reliant upon having a good | :25:02. | :25:06. | |
provider and network. If you have a good network, streaming is fine, if | :25:07. | :25:11. | |
it is intermittent, the buffering, then DVDs, certainly. Often the cost | :25:12. | :25:17. | |
of downloading a movie is more than in the supermarket and you have it | :25:18. | :25:23. | |
for only one week. It is not much of a gift, either, here is a | :25:24. | :25:27. | |
download... Last DVD you bought? The Star Wars boxed set. Mine was a | :25:28. | :25:32. | |
frozen DVD, that is a much better choice. You said that was for your | :25:33. | :25:37. | |
needs, but it was for you, wasn't it! Let it go! Let it go LAUGHTER | :25:38. | :25:41. | |
We will see you soon. | :25:42. | :25:43. |