:00:07. > :00:09.This is Business Live from BBC News with Alice Baxter and Rachel Horne.
:00:10. > :00:13.Greece gets more bailout money to stop it defaulting
:00:14. > :00:33.Live from London, that's our top story on Friday the 16th of June.
:00:34. > :00:36.There's still no clear agreement on debt relief for now.
:00:37. > :00:41.So is the Greek government right to call it light
:00:42. > :00:44.at the end of the tunnel? Also in the programme...
:00:45. > :00:46.After the biggest recall in the history of the car industry,
:00:47. > :00:57.could faulty airbag maker Takata be about to file for bankruptcy?
:00:58. > :01:02.We will keep across all market movements for you.
:01:03. > :01:04.European shares open on a positive note
:01:05. > :01:07.And we'll be getting the inside track on a tumultuous
:01:08. > :01:09.week for the UK's Brexit negotiations and look
:01:10. > :01:12.at where the new government goes from here with our Business Editor,
:01:13. > :01:14.Simon Jack. We usually ask you a twitter
:01:15. > :01:17.question, but today the founder of Amazon has one for you -
:01:18. > :01:19.what should he do with all his money?
:01:20. > :01:21.Jeff Bezos has posted a request for ideas from the public
:01:22. > :01:25.for philanthropy inspiration - what advice would you give?
:01:26. > :01:45.Good to have you with us on Business Live.
:01:46. > :01:48.We start in Greece, which has edged back from the brink of financial
:01:49. > :01:52.Late on Thursday - after months of wrangling -
:01:53. > :01:53.European finance ministers, together with the International
:01:54. > :01:56.Monetary Fund, finally agreed to give Athens its latest slice
:01:57. > :02:02.And there's a hint it could get some relief from its crippling
:02:03. > :02:11.Greece will finally get this - 8.5 billion euros -
:02:12. > :02:17.part of an 86 billion euro bailout plan agreed in 2015.
:02:18. > :02:23.It will come just in time, as Greece faces 7.3 billion
:02:24. > :02:25.euros of debt repayments, due next month, which it wouldn't
:02:26. > :02:39.Its total debt now stands at more than 337 billion euros.
:02:40. > :02:42.To put that in perspective, have a look at this.
:02:43. > :02:48.The red is Greece's debt level over the past decade.
:02:49. > :02:54.The grey is the size of the economy, everything the country produces.
:02:55. > :02:57.The debt is currently some 180% of GDP one of the highest
:02:58. > :02:59.levels in the world, and a number Athens
:03:00. > :03:10.That's why Greece has been insisting on debt relief, which may
:03:11. > :03:14.IMF boss Christine Lagarde says a write-off is the only way Greece
:03:15. > :03:17.will ever get back on its feet, and has been refusing to get
:03:18. > :03:24.German Finance Minister Wolfgang Schaeuble has been amongst those
:03:25. > :03:29.insisting the debt must eventually be repaid in full.
:03:30. > :03:31.The chairman of the Eurozone finance ministers' group is optimistic
:03:32. > :03:36.there could soon be an end in sight.
:03:37. > :03:42.Overall I think this is a major step forward,
:03:43. > :03:44.I commend the euro group institutions, the Greek authorities
:03:45. > :03:47.and foremost of course the Greek people for their intense
:03:48. > :03:53.We are now going into the last year of the financial support
:03:54. > :03:55.programme of Greece, we will prepare an exit strategy
:03:56. > :03:58.going forward to enable Greece to stand on his own feet again over
:03:59. > :04:09.Thanos Vamvakidis of Bank of America Merrill Lynch warns
:04:10. > :04:17.that the details of the deal are still vague.
:04:18. > :04:22.I think the agreement is a compromise, which is the best that
:04:23. > :04:27.we could have hoped for given all the constraints. But it is not the
:04:28. > :04:31.final solution. There is a broad understanding that debt relief could
:04:32. > :04:37.be required, but it is another kick of the can down the road. So you do
:04:38. > :04:42.not think we will see agreement for a haircut, for a chunk of debt to be
:04:43. > :04:48.written off? You think it is more extending the payments? This is
:04:49. > :04:49.exactly what they are discussing, depending on the physical
:04:50. > :04:53.performance and economic growth. They have to agreed to maturity
:04:54. > :04:57.extension to allow Greece to eventually repay this debt. We are
:04:58. > :05:05.talking about maturity extension for between Zoo Road to 15 years, this
:05:06. > :05:08.is the discussion. -- zero to 15 years. A lot of it depends on your
:05:09. > :05:12.long-term growth assumption, this will affect the numbers. What will
:05:13. > :05:16.be the assumption on the interest rate you will be paying on these
:05:17. > :05:22.loans also. This is what they are discussing, not a haircut. It still
:05:23. > :05:29.has to be approved by a number of European Parliaments? I don't expect
:05:30. > :05:32.any problems. They require the participation of the IMF. Some good
:05:33. > :05:37.news from the deal is that the IMF will participate with a so-called
:05:38. > :05:42.stand-by arrangement, which does not include any money before a final
:05:43. > :05:46.deal on the debt. Do you feel there has been softening of the stance
:05:47. > :05:49.towards Greece because of Brexit? Seeing the UK leaving has perhaps
:05:50. > :05:54.made your finance ministers think that we do not want another country
:05:55. > :05:59.to leave? Not really. I think, rightly so, they have kept these
:06:00. > :06:03.issues separate. If anything, I think the creditors were tough on
:06:04. > :06:07.Greece, who were to approve measures for the next five years and Quy on
:06:08. > :06:11.fiscal targets for the next few decades without actually getting a
:06:12. > :06:18.final answer on debt relief. This is completely separate. That was a
:06:19. > :06:19.representative from the bank of American Merrill Lynch.
:06:20. > :06:23.Let's take a look at some of the other stories making the news.
:06:24. > :06:26.Tesco, which is one of the world's biggest supermarket companies,
:06:27. > :06:28.appears to be cementing its recovery here in its home market
:06:29. > :06:30.of the UK after sales growth beat expectations.
:06:31. > :06:33.In the three months to the end of May -
:06:34. > :06:37.The firm will face shareholders later today,
:06:38. > :06:40.who are expected to query a pay deal awarded to the firm's
:06:41. > :06:43.The Chinese bike-sharing start up Mobike says it has raised
:06:44. > :06:47.$600 million to help fund its overseas expansion.
:06:48. > :06:49.Since its launch last year, the firm has rolled out
:06:50. > :06:53.its brightly coloured bikes in China and Singapore.
:06:54. > :06:57.It hopes to be in 200 cities by the end of the year.
:06:58. > :06:59.US authorities are moving to seize a Picasso painting,
:07:00. > :07:02.an apartment in Manhattan, and rights to a film as part
:07:03. > :07:07.The US alleges high-level Malaysian officials stole more
:07:08. > :07:15.than $4.5 billion from the country's economic development fund.
:07:16. > :07:17.The Japanese company behind the biggest recall in the history
:07:18. > :07:26.of the car industry appears to be on the verge of bankruptcy.
:07:27. > :07:28.About 100 million Takata airbags have been recalled
:07:29. > :07:32.Most major car-makers have used them at some point.
:07:33. > :07:46.Ruppert, tell us what is the latest? We have heard that shares have been
:07:47. > :07:51.suspended on the stock markets, could it be the end for the company?
:07:52. > :07:56.It certainly looks like the end for the company in its present form. It
:07:57. > :08:02.has been reported from several different sources that Takata will
:08:03. > :08:06.file for protective bankruptcy both here in Japan and in the United
:08:07. > :08:11.States sometime next week. That would pave the way for it to be
:08:12. > :08:17.taken over by an American company, Key Safety Systems,, the preferred
:08:18. > :08:22.bidder for Takata. This is the end of a very long-running saga dating
:08:23. > :08:28.back to 2008 when these records began because of faulty inflator is
:08:29. > :08:33.inside Takata made airbags. The recall has grown and grown and grown
:08:34. > :08:38.and, with it, potential liabilities for Takata have ballooned to an
:08:39. > :08:43.extraordinary extent, 100 million records, perhaps 8 billion US
:08:44. > :08:46.dollars worth of products that they will have to May, essentially, for
:08:47. > :08:51.free, which is driving the company into bankruptcy.
:08:52. > :08:54.Let's stay in the region where Asian stocks were mixed,
:08:55. > :08:56.with shares in Japan advancing, the Nikkei rose to a
:08:57. > :09:00.We also saw the yen remain near a two-week low
:09:01. > :09:03.against the dollar after the Bank of Japan left monetary policy
:09:04. > :09:04.unchanged as expected even as the Federal Reserve
:09:05. > :09:09.And that more hawkish tone meant we saw treasuries fall and gold
:09:10. > :09:13.So overall a steady performance in Asia on Friday -
:09:14. > :09:17.stocks seemingly taking the resumption of the US tech rout
:09:18. > :09:20.overnight in their stride Meanwhile here in Europe shares open
:09:21. > :09:30.on a positive note following Thursday's losses.
:09:31. > :09:34.The FTSE 100 in London is currently up to 0.36%.
:09:35. > :09:36.And Michelle Fleury has the details about what's ahead
:09:37. > :09:47.President Trump is expected to announce a shift in US policy
:09:48. > :09:52.towards Cuba, possibly as soon as this Friday. Watch out for curves on
:09:53. > :09:57.American companies doing business with the Cuban military -- watch out
:09:58. > :10:01.for curbs. And also tighter rules on travel to the island. It will be
:10:02. > :10:08.interesting to see how US businesses react. Since Obama loosened the
:10:09. > :10:13.embargo on Cuba, several US airlines have daily flights there. Will this
:10:14. > :10:17.dampened demand? The CEO of the Marriot hotel group has said it
:10:18. > :10:22.would be exceedingly disappointing to see progress made in the last two
:10:23. > :10:27.years between the US and Cuba halted and reversed. Meanwhile US
:10:28. > :10:31.agricultural businesses may be disappointed as they had hoped to
:10:32. > :10:37.export more American agricultural and food products to the country. On
:10:38. > :10:42.the economic front, watch out for the latest survey on consumer
:10:43. > :10:44.sentiment from the University of Michigan and housing starts from the
:10:45. > :10:45.month of May. Joining us is Jane Foley, senior
:10:46. > :10:53.currency strategist at Rabobank. Thank you for coming in. We will
:10:54. > :10:58.start with interest rates, lots of big decisions this week. Let's look
:10:59. > :11:05.at the UK. It has held them, but three members of the eight voted to
:11:06. > :11:09.increase? They did. That is interesting given the economic data
:11:10. > :11:14.we have had recently? It was a surprise for the market. Looking at
:11:15. > :11:17.what the market is implying, yesterday the market had suggested
:11:18. > :11:22.that the Bank of England would not hike interest rates to perhaps 2019.
:11:23. > :11:27.So to suddenly have three committee members voting for an interest rate
:11:28. > :11:31.hike took the market by surprise. My view, and I am an effect strategist,
:11:32. > :11:35.is that this might be about the pound. Looking at what the Bank of
:11:36. > :11:39.England has said for a few months, the inflation that has been coming
:11:40. > :11:44.through in the UK economy, which is very high, 2.9% each year, has been
:11:45. > :11:48.because of the weakness of sterling, which fell quite dramatically on the
:11:49. > :11:54.back of the referendum result last June. And because sterling has been
:11:55. > :11:59.weak, prices of goods such as food and energy, almost anything to
:12:00. > :12:04.nominated in another currency, has been going up and driving our
:12:05. > :12:08.inflation. The bank shot across the bows, which should mean that if the
:12:09. > :12:11.market is beginning to think the bank could hike interest rates,
:12:12. > :12:15.there might be less selling pressure.
:12:16. > :12:19.Given those inflationary pressures you describe, if you look into your
:12:20. > :12:23.crystal ball, what do you see happening with regards to rates? One
:12:24. > :12:26.of the most hawkish members of these eight people that decide whether or
:12:27. > :12:31.not the bank will raise rates, Kristin Forbes, is due to leave
:12:32. > :12:34.soon, she has been pushing bits for a while? She is due to leave at the
:12:35. > :12:39.end of the month and there will be two seats left on the committee. We
:12:40. > :12:44.don't know who will take them and whether they will be biased towards
:12:45. > :12:48.making change, or increasing rates. Why the market thinks the banks will
:12:49. > :12:52.not hike interest rates for a few years is because of the type of
:12:53. > :12:57.inflation we have seen. As I have described, it is not the sort of
:12:58. > :13:01.inflation that is because we are all rich and demanding more, that is the
:13:02. > :13:06.sort of inflation we would like. Unfortunately wage inflation is very
:13:07. > :13:13.low, wages are rising a lot less than inflation, meaning we are
:13:14. > :13:18.poorer. We have seen very poor results in retail sales, meaning
:13:19. > :13:22.economic growth will be great as a consequence. Inflation we have seen
:13:23. > :13:26.is acting in the same way as a tack site. If you saw an interest rate
:13:27. > :13:31.hike it would make is even pleura. ... Acting in the same way as a tax
:13:32. > :13:36.hike. We do not think they will hike but they want to stabilise the plan.
:13:37. > :13:40.In the US, interest rates increased as expected but it still surprise
:13:41. > :13:44.the markets? Yes, the US central bank has adjusted for a while they
:13:45. > :13:52.would hike interest rates in June, and they did, but similar to the UK,
:13:53. > :13:55.wage inflation is relatively low. Again, meaning that demand type of
:13:56. > :13:59.inflation is not necessarily there, it is very moderate. What the market
:14:00. > :14:02.thought the Federal Reserve would do is hike interest rates because they
:14:03. > :14:07.said they would but then maybe signal they would do less further
:14:08. > :14:10.out, but they did not, they set out from the same area as before and
:14:11. > :14:14.said we will hike interest rates again, probably at the end of this
:14:15. > :14:17.year and maybe three times next year. The market was surprised by
:14:18. > :14:20.that. Jane, you will take us through
:14:21. > :14:22.papers in a little while. Thank you, Jane.
:14:23. > :14:25.We'll get the Inside Track on the big business
:14:26. > :14:27.stories of the week - inlcuding the UK's Brexit plan -
:14:28. > :14:41.You're with Business Live from BBC News.
:14:42. > :14:46.In an effort to help businesses grow, HSBC has today launched
:14:47. > :14:53.a ?10 billion fund to support small and medium sized businesses
:14:54. > :14:56.Joining us from the London Stock Exchange
:14:57. > :15:00.is Ian Stuart, Chief Executive of HSBC UK.
:15:01. > :15:10.Many thanks for joining us. Tog us through the aim of this? This is the
:15:11. > :15:16.fourth fund that we have launched. ?10 million which we hope SMEs will
:15:17. > :15:20.take advantage of. It is not just for HSBC customers. It is for all
:15:21. > :15:26.small and medium-sized businesses, spread regionally. For every corner
:15:27. > :15:31.of the UK there is a fund to access. We genuinely hope it will give
:15:32. > :15:34.businesses the oxygen to grow and hopefully do more overseas with
:15:35. > :15:38.export as well. This is a good time for businesses to borrow money when
:15:39. > :15:43.interest rates are low. But we were just speaking to Jane a moment ago
:15:44. > :15:46.about Bank of England committee members possibly trying to move
:15:47. > :15:49.towards an interest rate hike at some point in the near future. Might
:15:50. > :15:55.that mean less demand for these loans? I just caught the end of that
:15:56. > :16:05.interview. What was coming across is, is there a genuine interest for
:16:06. > :16:09.interest rate rises now? There will be very little chance of a rate
:16:10. > :16:12.increase this year. I think it is still a great time to be borrowing
:16:13. > :16:17.money. I think money is as cheap as it ever has been. We help small
:16:18. > :16:22.businesses will take advantage of it and keep pushing forward and help
:16:23. > :16:26.the UK economy. No doubt SMEs are the backbone of the UK economy. This
:16:27. > :16:32.is really important to support them through what is unchartered waters
:16:33. > :16:40.over the coming weeks and months. You talk about unchartered waters.
:16:41. > :16:44.In this post Brexit environment, do small and medium-sized businesses
:16:45. > :16:49.need extra handholding? We are here to help take advantage of the
:16:50. > :16:53.opportunities. A lot of customers talking about exporting, who maybe
:16:54. > :16:57.have not exported in the past. We understand that taking that first
:16:58. > :17:01.step is a big step. Our job is to try to help customers take advantage
:17:02. > :17:06.of some of the markets, especially outside the EU, where there are
:17:07. > :17:07.genuine opportunities. Many thanks, Iain Stewart.
:17:08. > :17:21.You're watching Business Live - our top story...
:17:22. > :17:27.Finance ministers from the eurozone and the IMF had a -- have agreed to
:17:28. > :17:30.give Greece another multibillion-dollar bailout. There
:17:31. > :17:31.was no clear answer about whether Athens will get debt relief.
:17:32. > :17:35.A quick look at how markets are faring...
:17:36. > :17:43.They have been open for a fair while. In Europe, we can see they
:17:44. > :17:48.are closing the week on a positive note after the losses we saw on
:17:49. > :17:56.Thursday. The FTSE 100 index in London still up 0.34%. That follows
:17:57. > :17:56.the positive trend in Asia overnight.
:17:57. > :17:59.And now let's get the inside track on all the big business
:18:00. > :18:03.It was the first week of Britian's new government and there have been
:18:04. > :18:05.several developments about the impact of the UK's
:18:06. > :18:08.And on the other side of the Atlantic the US
:18:09. > :18:10.Federal Reserve increased the cost of borrowing.
:18:11. > :18:17.Our business editor Simon Jack is here to pick over it all.
:18:18. > :18:25.Morning. Let's start with the UK and Brexit. We were expecting to hear
:18:26. > :18:30.Philip Hammond speaking last night in the Mansion house but that was
:18:31. > :18:35.cancelled because of the dreadful tower fire in London. What were we
:18:36. > :18:39.expecting to hear from him? It is a week since the UK election. That
:18:40. > :18:42.election was called so that the Prime Minister Theresa May could get
:18:43. > :18:47.a mandate, strengthen your position, to deliver the kind of Brexit she
:18:48. > :18:51.had promised. We are out of the single market, the Customs Union, no
:18:52. > :18:55.deal is better than a bad deal, that is what she said. She fell short of
:18:56. > :19:00.a majority and has to go into talks with the DUP, the Northern Irish
:19:01. > :19:04.party, to try to get a majority. Are we going to get that kind of
:19:05. > :19:08.approach now when the Brexit negotiations start on Monday? In a
:19:09. > :19:11.way it was a shame we didn't hear from Philip Hammond. Of course, we
:19:12. > :19:18.completely understand why he cancelled it. He is thought to
:19:19. > :19:22.favour a softer, if you like, soft and hard, not useful but we
:19:23. > :19:25.understand what they mean, he favours a more conciliatory approach
:19:26. > :19:29.to Europe, a more collaborative approach, and possibly looking at
:19:30. > :19:32.things like reopening questions, is there a way we can stay in the
:19:33. > :19:36.Customs Union? That will be interesting because the Northern
:19:37. > :19:41.Ireland party, that border would cause a lot of friction going to and
:19:42. > :19:45.from macro if you had to open every Vaniteuk customs checks. That would
:19:46. > :19:47.be a big problem. We are trying to figure out what kind of approach we
:19:48. > :19:52.are going to get from this government. Negotiations start on
:19:53. > :19:55.Monday. It is not a brilliant position to start from. We don't
:19:56. > :20:01.know what our starting position is and what our objectives are. The
:20:02. > :20:05.clock is ticking to that is the thing. You trigger Article 50, then
:20:06. > :20:11.call an election which you think you're going to win, and is a bit
:20:12. > :20:15.like going to the front door, ring the buzzer and runaway! Brussels are
:20:16. > :20:23.waiting for us to come back around the corner. One of the areas of the
:20:24. > :20:28.economy there are questions over is euro clearing. What is it and why is
:20:29. > :20:33.it so important? This is one of the bits of plumbing of the financial
:20:34. > :20:38.system. Buyers and sellers by derivatives. Financial insurance. It
:20:39. > :20:44.is a massive business. There is 900 billion euros worth trading day.
:20:45. > :20:53.Some people say it supports up to 85,000 jobs directly and indirectly.
:20:54. > :20:56.The Europeans, the European Union, have always wanted this huge
:20:57. > :21:04.business the nominated in Europe to be done inside Europe. This is too
:21:05. > :21:10.big an industry for us. It is too big for us to be conducted outside
:21:11. > :21:13.the EU bloc, they said. If they decide the matter trading is
:21:14. > :21:19.systemically important, which it is, they either want direct oversight of
:21:20. > :21:25.it, have their monitors monitoring it, or they will force it back into
:21:26. > :21:29.the European Union. That is what they came to have a look at. None of
:21:30. > :21:33.the customers that use this clearing house want this to happen. You get a
:21:34. > :21:38.big economy of scale if you have this deep pool of trading. You have
:21:39. > :21:42.to put up less margin. A bit in the kitty of something goes wrong. The
:21:43. > :21:46.bigger the pool, the less margin as a percentage of the business you do.
:21:47. > :21:52.They say it with drive up costs. It is one of the big titans of city
:21:53. > :21:59.trading, Sir Michael Spencer, he said it was a political land grab,
:22:00. > :22:04.dressed up as concerns about financial stability. Not holding
:22:05. > :22:09.back at all. Bear in mind of course that this also happens in New York.
:22:10. > :22:12.A lot of people think of the EU and the UK start taking lumps out of
:22:13. > :22:15.each other, it would be mutually destructive and many big traders
:22:16. > :22:18.will just move to New York. That doesn't sound good. We will
:22:19. > :22:19.leave it there. Simon Jack, thank you.
:22:20. > :22:22.The Duke of York has told the BBC that UK businesses face several
:22:23. > :22:31.years of uncertainty and upheaval due to Brexit.
:22:32. > :22:35.But Prince Andrew, a former UK trade on by, said businesses should make
:22:36. > :22:40.the most of new international opportunities. The Prince has been
:22:41. > :22:46.in Singapore to attend a conference. He was also hosting pitch the
:22:47. > :22:47.Palace, a programme he started to support. Entrepreneurs from the UK
:22:48. > :22:58.and all around the world. We have been concentrating on 27
:22:59. > :23:00.countries. If you take that as an internal market, there is an
:23:01. > :23:07.external market that is a lot bigger. And many businesses haven't
:23:08. > :23:11.got over that garden fence, to some extent. And in my experience
:23:12. > :23:16.recently, businesses that look over the garden fence have gone, the
:23:17. > :23:21.grass is not quite as dark and unforgiving as you might expect, and
:23:22. > :23:22.actually getting over the fence, there might be some fresh grass out
:23:23. > :23:24.there. What other business
:23:25. > :23:33.stories has the media been Jane has returned. At the top of the
:23:34. > :23:38.programme we usually give out our Twitter question. This time we give
:23:39. > :23:44.you Jeff Bezos's Twitter question. 6 billion short of being the world's
:23:45. > :23:48.richest man. He has tweeted asking people what he should do in terms of
:23:49. > :23:57.philanthropy. What Tweets have we got? We have had
:23:58. > :24:02.a a few. Jeff Bezos seven best in independent film-making. The studios
:24:03. > :24:08.are churning out cartoons and creativity is indy. Another one
:24:09. > :24:15.here, give it to the people of Grenfell Tower and help them rebuild
:24:16. > :24:19.their lives. A reference to that tower in west London that burnt
:24:20. > :24:23.down. In respect of that last response,
:24:24. > :24:30.that rings a tune with what Jeff Bezos himself has said. He is
:24:31. > :24:32.looking in the longer term. What he indicated is in respect of
:24:33. > :24:37.philanthropy, you would perhaps like to look at the urgency. When Picchu
:24:38. > :24:44.-- people really urgently need help. That rings true with the last tweet.
:24:45. > :24:47.When there are disasters, people want to respond immediately. That is
:24:48. > :24:50.when they will. It is having the organisation and structure in place
:24:51. > :25:00.to ensure donations go to the right place and I used best? It is
:25:01. > :25:04.interesting. This newspaper article says he is less than 6 billion away
:25:05. > :25:09.from being the world's richest man. Just a mere 6 billion! There is a
:25:10. > :25:14.lot of pressure within America for a very rich people to setup bodies, to
:25:15. > :25:23.read a script -- to redistribute their wealth. Bill Gates, Warren
:25:24. > :25:29.Buffet, the top five billionaires, giving away a lot of their money.
:25:30. > :25:35.If he is going to give away his money, you don't want him to give it
:25:36. > :25:40.to bitcoin, do you?! Bitcoin has had a bad week. The worst week since
:25:41. > :25:44.January 20 15. There are a number of factors. I'm sure your viewers are
:25:45. > :25:48.aware that this has been a very difficult week for a technological
:25:49. > :25:51.stocks. That has probably contributed to some of the pressure
:25:52. > :25:56.on here Macron bitcoin as well. Other factors, a bill through
:25:57. > :26:01.parliament saying they need more regulation. That could take away
:26:02. > :26:03.some of the advantages will stop I'm going to have to pause that and what
:26:04. > :26:05.it back in slow motion. Thank you. That is it.
:26:06. > :26:08.Have a great weekend.