Browse content similar to 16/08/2017. 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 and Ben Bland. | :00:00. | :00:12. | |
Brexit proposals: The UK government says there'll be no return to a hard | :00:13. | :00:16. | |
Live from London, that's our top story. | :00:17. | :00:35. | |
The British Government has unveiled its second | :00:36. | :00:37. | |
Brexit position paper - looking to minimise disruption | :00:38. | :00:40. | |
at the Irish border and let people and products flow freely | :00:41. | :00:43. | |
between Northern Ireland and Ireland. | :00:44. | :00:51. | |
Why Apple is making it harder for touts in Asia to profit | :00:52. | :00:57. | |
European markets are looking like this in the first half hour of | :00:58. | :01:06. | |
trade. More and more of us | :01:07. | :01:08. | |
are globe-trotting alone, we speak to the founder of one firm | :01:09. | :01:10. | |
who turned her own terrible travel Today we want to know about your | :01:11. | :01:14. | |
travel highs and lows: tell us your stand-out experience | :01:15. | :01:25. | |
while travelling the world? The British Government | :01:26. | :01:28. | |
has unveiled its second Brexit position paper, | :01:29. | :01:38. | |
ahead of negotiations in Brussels This time, it's about minimising | :01:39. | :01:40. | |
disruption at the Irish border. Northern Ireland is the only part | :01:41. | :01:46. | |
of the UK which will share a land border with an EU member state | :01:47. | :01:50. | |
when the UK leaves the EU in 2019. Under one option the Government has | :01:51. | :01:56. | |
proposed, there'd be no customs border at all between the UK | :01:57. | :01:58. | |
and Ireland, enabling goods to flow freely between the Republic | :01:59. | :02:02. | |
of Ireland and Northern Ireland. Protecting the Common | :02:03. | :02:07. | |
Travel Area is key. Thanks to the current arrangement, | :02:08. | :02:09. | |
people can move freely between Northern Ireland, | :02:10. | :02:13. | |
the Republic and the rest of the UK This is important because, | :02:14. | :02:15. | |
according to the Centre for Cross Border Studies, | :02:16. | :02:22. | |
up to 30,000 people cross And the Central Statistics Office | :02:23. | :02:24. | |
estimates the value of Ireland's exports to Britain has grown by 14 % | :02:25. | :02:31. | |
to $8.5 billion so far this year. With us is Dr Paul Breen, Senior | :02:32. | :02:40. | |
Lecturer, University of Westminster. Good to see you. Welcome to the | :02:41. | :02:55. | |
programme. It is hard to overemphasise how important | :02:56. | :02:59. | |
politically and economically there is an invisible border on the free | :03:00. | :03:03. | |
flow of people and goods between the Republic of Ireland and Northern | :03:04. | :03:09. | |
Ireland. In Ait is absolutely essential there is a detailed plan | :03:10. | :03:13. | |
in place well in advance of March, 2019. Here in London, where we are | :03:14. | :03:23. | |
now, we can get on the London underground March 2019, the morning | :03:24. | :03:27. | |
after Brexit. For people living on the Irish border, it will affect | :03:28. | :03:35. | |
them very dramatically. We need ideas now in place so that we can | :03:36. | :03:41. | |
actually make sure there is a seamless and frictionless transition | :03:42. | :03:46. | |
the morning after Brexit. You mentioned it would have an impact if | :03:47. | :03:50. | |
suddenly there was a hard order and border checks. What would the | :03:51. | :03:56. | |
potential effect of that be? There are at least 30,000 people who | :03:57. | :03:59. | |
travel across the border back and forwards every day for work. Then | :04:00. | :04:04. | |
there is the business impact. Northern Ireland relies very heavily | :04:05. | :04:08. | |
on its trade with the Republic and vice versa. It is completely | :04:09. | :04:13. | |
essential there is free movement of goods people. Otherwise we will end | :04:14. | :04:16. | |
up in a very chaotic situation has to be planned in advance. 30,000 | :04:17. | :04:24. | |
bigger people crossing the border, that is probably a conservative | :04:25. | :04:26. | |
estimate. That is probably people who travel for work. Then there are | :04:27. | :04:29. | |
leisure travellers and people moving around the country. Another issue | :04:30. | :04:33. | |
link to that is the fact that a lot of people in Northern Ireland to | :04:34. | :04:37. | |
identify very strongly with Ireland as an entity, as a whole, the whole | :04:38. | :04:42. | |
island. Culturally they also have a lot of activities and a lot of | :04:43. | :04:45. | |
involvement with people on both sides of the border. For example Co | :04:46. | :04:49. | |
Fermanagh, where I am originally from, is bored -- bordered by County | :04:50. | :04:58. | |
Donegal. People would have interaction with neighbours across | :04:59. | :05:02. | |
the border. Who has the final decision? You could have a situation | :05:03. | :05:05. | |
where the UK Government and Irish fitment agree not having any border, | :05:06. | :05:10. | |
no border checks, but then you have to get the agreement of the European | :05:11. | :05:17. | |
Union well. -- Irish government. Everything has to be arranged within | :05:18. | :05:21. | |
the parameters of the Good Friday Agreement. In the most recent | :05:22. | :05:24. | |
statement the Government has emphasised that the peace process | :05:25. | :05:28. | |
has to be prioritised. I think there can be no deal or no series of | :05:29. | :05:35. | |
actions that would jeopardise the peace process and the terms of the | :05:36. | :05:38. | |
Good Friday Agreement, which can't really be up for negotiation. Thank | :05:39. | :05:43. | |
you very much. Interesting to get your thoughts. Thank you. | :05:44. | :05:47. | |
Some of the other top business stories. | :05:48. | :05:49. | |
Donald Trump has hit back at the business leaders who resigned | :05:50. | :05:52. | |
from his manufacturing council in the last couple of days. | :05:53. | :05:54. | |
So far six high profile figures, including the bosses of Intel, | :05:55. | :05:57. | |
Merck and Under Armour, have left Mr Trump's panel | :05:58. | :05:59. | |
in protest at the President's handling of the rally held by far | :06:00. | :06:02. | |
At a press conference Mr Trump said the bosses in question were not | :06:03. | :06:07. | |
Technology companies such as Microsoft and Cisco Systems have | :06:08. | :06:11. | |
ramped up lobbying ahead of talks to renegotiate the North American | :06:12. | :06:14. | |
The firms are looking to avoid any future restrictions on cloud storage | :06:15. | :06:21. | |
and to promote an international pact to eliminate technology | :06:22. | :06:25. | |
The US, Mexican and Canadian negotiators are due to start talks | :06:26. | :06:29. | |
on the 23-year-old trade pact on Wednesday. | :06:30. | :06:36. | |
US wholesaler Costco is facing a $19 million bill in damages | :06:37. | :06:39. | |
after the jewellery chain Tiffany sued it for infringing | :06:40. | :06:41. | |
It accused Costco of selling "Tiffany" engagement rings, | :06:42. | :06:44. | |
but Costco disputed the claim, saying "Tiffany" is | :06:45. | :06:46. | |
The court ruled however that it must call them | :06:47. | :06:53. | |
I am sorry. You will set me off in a minute. Plenty of news on the | :06:54. | :07:16. | |
business live page. On there now, they are taking the nuts away. No | :07:17. | :07:24. | |
more nuts on Walnut whips. This is Nestle is saying that to cut costs | :07:25. | :07:28. | |
they are taking the nut from the new versions of the classic Walnut Whip. | :07:29. | :07:35. | |
As the director points out it is now just a whip. Controversially, I | :07:36. | :07:38. | |
never liked the nut on the top anyway. It is music to my ears. We | :07:39. | :07:49. | |
have also been asking about your views on travelling the world solo. | :07:50. | :07:55. | |
Mel says, massive hydraulic your own comment meeting the best people you | :07:56. | :07:59. | |
will ever meet. Below is seeing how people live in different countries. | :08:00. | :08:03. | |
Maybe suggesting people living in poverty forced up Karen says, I love | :08:04. | :08:07. | |
it. Meeting new people and choosing my own adventure. Some of the best | :08:08. | :08:10. | |
holidays ever. Keep your comments coming in. | :08:11. | :08:13. | |
Apple is attempting to crack down on touts buying new iPhones | :08:14. | :08:16. | |
in Hong Kong and selling on the Chinese black market. | :08:17. | :08:19. | |
There are a number of reasons. The first reason is Hong Kong's lower | :08:20. | :08:39. | |
taxes and duties are offering a powerful incentive for people | :08:40. | :08:45. | |
offering a quick. Every year after an iPhone delays they pop up in Hong | :08:46. | :08:49. | |
Kong and now sold on the black market. They are sold to tourists or | :08:50. | :08:54. | |
across the border, to mainland China, but customers who are willing | :08:55. | :08:59. | |
-- unwilling to wait for them to become available there. This does | :09:00. | :09:03. | |
not happen any more. From yesterday you can no longer return or exchange | :09:04. | :09:08. | |
any Apple products online in Hong Kong unless they are defective. The | :09:09. | :09:13. | |
previous policy allowed 14 days for products to be returned in the city. | :09:14. | :09:18. | |
This change in policy is very timely. Apple is expected to unveil | :09:19. | :09:23. | |
its new iPhone models later this year. It is a hotly anticipated | :09:24. | :09:29. | |
tenth anniversary edition and is supposed to have a completely | :09:30. | :09:33. | |
overhauled look. It is just in time for this. Really interesting story | :09:34. | :09:37. | |
as Apple gets tough on the touts. There's been a decent | :09:38. | :09:40. | |
rebound in markets over the last couple of days | :09:41. | :09:42. | |
after tensions calmed Money moving back into some riskier | :09:43. | :09:44. | |
assets but we're still not back to where we were last week, | :09:45. | :09:48. | |
suggesting there's still a lot This evening's minutes from the US | :09:49. | :09:56. | |
Fed are likely to give markets a taste of what was discussed | :09:57. | :10:04. | |
at the July meeting between Fed members and some indication | :10:05. | :10:07. | |
of rate rise timings. In Europe today we're | :10:08. | :10:16. | |
watching for confirmation of the EU GDP number - | :10:17. | :10:18. | |
expected to show growth of 0.6%. And hot on the heels of yesterday's | :10:19. | :10:23. | |
inflation data in the UK, showing the Consumer Prices Index | :10:24. | :10:26. | |
held steady at 2.6%. Today we get the unemployment stats, | :10:27. | :10:30. | |
including average earnings, which should give some insight | :10:31. | :10:38. | |
into whether wages are keeping More on that in a moment, | :10:39. | :10:41. | |
but first let's head to the US where Samira has the details | :10:42. | :10:45. | |
of the day ahead on Wall Street. The US Federal reserve will release | :10:46. | :10:48. | |
the minutes from its past policy At that meeting policymakers | :10:49. | :10:51. | |
unanimously decided to keep interest rates unchanged and planned | :10:52. | :10:55. | |
to reduce the massive bond holdings In other news, American retailer | :10:56. | :11:00. | |
Target will be reporting earnings. Last month, Target said it | :11:01. | :11:05. | |
expects sales to increase which would be the first such rise | :11:06. | :11:08. | |
in five quarters. It will thanks to improved customer | :11:09. | :11:12. | |
traffic and sales trends and the company has also invested | :11:13. | :11:18. | |
very heavily in keeping prices low and improving | :11:19. | :11:21. | |
its e-commerce business. And finally, Cisco Systems | :11:22. | :11:24. | |
is also reporting earnings. The world's largest networking gear | :11:25. | :11:26. | |
maker will likely report another fall in revenue as declines | :11:27. | :11:30. | |
in its legacy hardware business outweigh gains | :11:31. | :11:33. | |
from its new divisions Joining us is Lucy MacDonald, | :11:34. | :11:36. | |
Chief Investment Officer, Global Equities at Allianz Global | :11:37. | :11:42. | |
Investors. Welcome. This morning, interestingly | :11:43. | :11:54. | |
from the IMF about China's being filled much by debt. That is exactly | :11:55. | :12:02. | |
the case was that we are seeing debt everywhere in the world as being the | :12:03. | :12:07. | |
major determinant of growth. That has been the case since the | :12:08. | :12:10. | |
financial crisis, but particularly so in China, which has really driven | :12:11. | :12:18. | |
excess growth, over 6%. That has helped the rest of the world, for | :12:19. | :12:22. | |
sure. Pointing out this debt is there and will need to be financed | :12:23. | :12:28. | |
over time is a good caution, I think. It is a common picture around | :12:29. | :12:33. | |
the world, the growth is fuelled by debt. Where is the dividing line? | :12:34. | :12:38. | |
Read as a become manageable and healthy to keep the economy growing, | :12:39. | :12:42. | |
and being into dangerous territory? We had a very clear number at 90% of | :12:43. | :12:49. | |
GDP. That proved to be not entirely clear that it was an exact number. | :12:50. | :12:53. | |
We are now in the hundreds of percent. 250% we are talking in | :12:54. | :13:00. | |
China and similar levels house where in the world. It comes down to the | :13:01. | :13:05. | |
ability to finance that debt. That is affected by how close the economy | :13:06. | :13:14. | |
is in China. It is a very close economy. It is relatively easy to | :13:15. | :13:18. | |
control and a similar picture in Japan as well. The central banks now | :13:19. | :13:28. | |
own a faith of the overall debt. There certainly are major holders of | :13:29. | :13:33. | |
it. It does depend on the structure, the majority of the debt and who the | :13:34. | :13:39. | |
holders are, how manageable it is. We are in totally new territory as | :13:40. | :13:44. | |
far as the levels are concerned. Interesting. Thank you very much. I | :13:45. | :13:48. | |
know you will talk this through some of the newspaper stories later. For | :13:49. | :13:49. | |
now, thank you. We'll meet the founder of one firm | :13:50. | :13:51. | |
who turned her own terrible travel You're with Business | :13:52. | :13:56. | |
Live from BBC News. We'll get the latest economic update | :13:57. | :14:09. | |
for the UK this morning, with the latest unemployment figures | :14:10. | :14:13. | |
due out shortly. Wages are still expected to be | :14:14. | :14:18. | |
falling behind inflation, which we found out | :14:19. | :14:20. | |
yesterday came in at 2.6%. Let's speak to Professor Geraint | :14:21. | :14:25. | |
Johnes from Lancaster University. I suppose that is always the issue | :14:26. | :14:40. | |
for the regardless of unemployment figures, wages are not going up and | :14:41. | :14:44. | |
people are feeling the squeeze. That is right. We do not know what | :14:45. | :14:48. | |
today's figure is will bring. If they are in line with what we have | :14:49. | :14:51. | |
been seeing over the last couple of years we can expect to see a further | :14:52. | :14:56. | |
rise in employment, possibly a fall in the unemployment rate. We will | :14:57. | :15:02. | |
see very little Joy on pay. The CIP de brought out a survey earlier this | :15:03. | :15:13. | |
week saying employment was still set to grow over the coming months that | :15:14. | :15:16. | |
there was very little action on pay. That is in line with the information | :15:17. | :15:18. | |
we have from the bank of England's agents reports. Over the last ten | :15:19. | :15:21. | |
years or so we have seen implement grow from 29 million to 32 million, | :15:22. | :15:25. | |
huge increase in employment. Output in the economy has not grown as | :15:26. | :15:30. | |
rapidly. That means productivity growth has been sluggish and that is | :15:31. | :15:35. | |
not enabling firms toward paying creases, also essential pay | :15:36. | :15:38. | |
increases, two employees. There is also a significant availability of | :15:39. | :15:43. | |
labour. Normally would we would suggest that when unemployment is | :15:44. | :15:47. | |
falling it is more difficult to find workers. That means there is | :15:48. | :15:52. | |
pressure for employers to put up what they pay. Yellow macro ten | :15:53. | :15:57. | |
years ago we had 30% of all workers were self-employed. -- Ten years | :15:58. | :16:04. | |
ago. 27% are now part-time. Many of those want to work longer hours than | :16:05. | :16:08. | |
they currently have. There is an increased availability of labour. We | :16:09. | :16:12. | |
are seeing that as well at the top end of the age range. There are a | :16:13. | :16:17. | |
lot of older workers now wanting to remain in employment. Good to talk | :16:18. | :16:18. | |
to you. The business live page is updated | :16:19. | :16:31. | |
through the day. Balfour Beatty has seen profits for the first half of | :16:32. | :16:37. | |
this year doubled to ?20 million and the Chief Executive credit it to | :16:38. | :16:39. | |
winning a series of large infra structure projects. | :16:40. | :16:48. | |
The news that the British government is to unveil its second Brexit | :16:49. | :17:00. | |
battle, how to minimise the disruption between the Irish | :17:01. | :17:04. | |
Republic and Northern Ireland of course to maintain relations and | :17:05. | :17:09. | |
trade links and the passage of people across that border. They have | :17:10. | :17:13. | |
laid out a number of options but it is still very early days in the | :17:14. | :17:15. | |
negotiations. A quick look at how | :17:16. | :17:17. | |
markets are faring. That is what the pound will get you | :17:18. | :17:23. | |
against the dollar. Ever fancied travelling the world | :17:24. | :17:26. | |
with just a backpack for company? But what if you wanted some | :17:27. | :17:28. | |
like-minded travel companions Well, our next guest | :17:29. | :17:31. | |
founded her travel firm, Flash Pack, The market for solo travel | :17:32. | :17:36. | |
is booming, especially 30 and 40-year-old singletons | :17:37. | :17:43. | |
with disposable income. According to UK travel body ABTA, | :17:44. | :17:47. | |
nearly one in six Britons - that's 15% of the population - | :17:48. | :17:50. | |
have travelled alone. Despite safety worries, | :17:51. | :17:53. | |
a TripAdvisor survey of more than 9,000 women showed that 74% had | :17:54. | :17:55. | |
already travelled alone in 2015. Radha Vyas is co-founder | :17:56. | :18:02. | |
and Chief Executive of Flash Pack - Welcome to the programme. Let's | :18:03. | :18:19. | |
start with how it began because we touched on a bit of your story, a | :18:20. | :18:23. | |
terrible travel experience and you thought there had to be a better way | :18:24. | :18:26. | |
of doing it so how did it come about? I was single and in my 30s | :18:27. | :18:32. | |
and like many people working long hours and feeling overwhelmed and I | :18:33. | :18:36. | |
needed some adventure and fun in my life. For the first am I could not | :18:37. | :18:40. | |
find anyone to go on holiday with and being in my 30s a lot of friends | :18:41. | :18:45. | |
were settling down or getting married or busy with their own | :18:46. | :18:48. | |
careers and a friend said I should go on a group tour. This was the | :18:49. | :18:53. | |
first time the concept came on my radar, I did not know what one was, | :18:54. | :18:59. | |
that it was available for some of my age so I was intrigued. I had always | :19:00. | :19:04. | |
travelled solo and was craving company so I started researching and | :19:05. | :19:07. | |
realised the mass group tour companies were predominantly | :19:08. | :19:13. | |
catering to young budget backpackers with a focus on partying or the more | :19:14. | :19:17. | |
luxurious ones for the 65 and over market and I was in between. I | :19:18. | :19:22. | |
wanted adventure and a dynamic itinerary put the boutique hotel at | :19:23. | :19:26. | |
the end of the day also the problem is the expense, travelling solo you | :19:27. | :19:30. | |
pay a single room supplement and your trip can be incredibly | :19:31. | :19:33. | |
expensive so how does what you have set up deal with that, if at all? I | :19:34. | :19:39. | |
understand it from both sides. It feels a bit like discrimination if | :19:40. | :19:42. | |
you are travelling solo but equally the hotels need to earn a certain | :19:43. | :19:47. | |
margin and if you are renting a room on Airbnb, you would not expect to | :19:48. | :19:52. | |
have half the rent is a single person was renting from you. We do | :19:53. | :19:57. | |
not enforce a single supplement and we give you a chance to share a room | :19:58. | :20:01. | |
with somebody you would get on with. You get to experience a nice hotel | :20:02. | :20:04. | |
and share the cost with somebody. And when you're travelling around | :20:05. | :20:09. | |
the world, it is about meeting like-minded people. It is sort of | :20:10. | :20:13. | |
not solo travel in some respects because you are with a group when | :20:14. | :20:16. | |
you are out there but how do you make sure you find a like-minded | :20:17. | :20:21. | |
group? There are certainly different interpretations of what a holiday is | :20:22. | :20:25. | |
or could be so how do you get similar people on the tours? We only | :20:26. | :20:31. | |
cater to people in their 30s and 40s and 90% of our customers come on | :20:32. | :20:35. | |
their own. A couple of people come with a friend but most on their own | :20:36. | :20:41. | |
and most are single, busy professionals at the same life | :20:42. | :20:44. | |
stage. They already have a lot in common, everybody is up for an | :20:45. | :20:48. | |
adventure and meeting new people to the probability of getting on with | :20:49. | :20:52. | |
people is high. And we talked about experiences and we have been asking | :20:53. | :20:57. | |
people to send us highs and lows and it strikes me the world is a much | :20:58. | :21:02. | |
smaller place now. You can do most places, do most things, if there are | :21:03. | :21:06. | |
still some work on your list you have not ticked off or places you | :21:07. | :21:12. | |
could not offer at all? North Korea for example, but there is still | :21:13. | :21:16. | |
demand. Absolutely and we started the company by offering really | :21:17. | :21:19. | |
cutting edge destinations like Sierra Leone also my husband and I | :21:20. | :21:26. | |
have both been to over 100 destinations between us but there | :21:27. | :21:29. | |
are still so many more, I would love to go to South Korea, to Iran, | :21:30. | :21:34. | |
places in South America I would like to explore and North America. There | :21:35. | :21:39. | |
are a few places that we do a void just because of the risk. I would | :21:40. | :21:44. | |
love to do hiking in north Korea but it is just not possible right now. | :21:45. | :21:49. | |
We have been asking for people to share their highs and lows and we | :21:50. | :21:52. | |
have had some fantastic ones. This is from Maria her with a koala, | :21:53. | :21:58. | |
saying it was her highlight in Australia. And this one says the | :21:59. | :22:09. | |
edge of the Moon Valley called Paradise on Earth. A lot of people | :22:10. | :22:15. | |
sharing. And similar themes, Philip says travelling solo lets to be a | :22:16. | :22:20. | |
version of yourself you never knew, that idea of discovery and Jeff said | :22:21. | :22:26. | |
it is easier to meet new people. He also says the load that sometimes it | :22:27. | :22:30. | |
can be lonely and you don't get to share the memories. -- the low. Do | :22:31. | :22:37. | |
you find people stay in touch after the trip? So many people do. When | :22:38. | :22:41. | |
you are backpacking alone in your 20s you can stay in hostels and it | :22:42. | :22:45. | |
is easy to meet other travellers but in your 30s and 40s you might want | :22:46. | :22:48. | |
to stay in hotels and it is harder to meet people and that is when a | :22:49. | :22:53. | |
group tour situation comes onto your radar and people start researching | :22:54. | :22:56. | |
our company. What we're finding interesting is that people do stay | :22:57. | :23:00. | |
in touch for long periods. We have had a couple of people who have | :23:01. | :23:04. | |
become housemates in London after meeting on one of our adventures. We | :23:05. | :23:09. | |
have now launched these mini experiences all across London and we | :23:10. | :23:15. | |
are about launch in New York where you can experience a Flash Pack | :23:16. | :23:18. | |
adventure in one day, joining a Jordanian supper club for example. | :23:19. | :23:23. | |
We are seeing customers using that as an excuse to meet each other | :23:24. | :23:28. | |
again. Any marriages yet?! No matchmaking! Really nice to see you. | :23:29. | :23:32. | |
In a moment we'll take a look through the business pages but first | :23:33. | :23:35. | |
here's a quick reminder of how to get in touch with us. | :23:36. | :23:40. | |
The business life page is where you can stay ahead with all the breaking | :23:41. | :23:46. | |
businesses of the day keep up-to-date with the latest details | :23:47. | :23:50. | |
with insight and analysis from the BBC's team of editors around the | :23:51. | :23:54. | |
world. And we want to hear from you as well, get involved on our web | :23:55. | :24:03. | |
page. And on Twitter and you can find us on Facebook. Business Live, | :24:04. | :24:11. | |
on TV and online whenever you need to know. | :24:12. | :24:11. | |
What other business stories has the media been | :24:12. | :24:13. | |
Lucy MacDonald, CIO, Global Equities at Allianz Global Investors | :24:14. | :24:17. | |
One in the Washington Post, Trump tried to save their jobs that they | :24:18. | :24:28. | |
were quitting anyway. Two element here, what is the fact there is | :24:29. | :24:32. | |
enough confidence in the labour market for people to want to move | :24:33. | :24:37. | |
around but the other, the underlying theme, is this substitution of | :24:38. | :24:42. | |
capital labour, automation, and whether anything can be done to keep | :24:43. | :24:50. | |
these jobs in the longer term with manufacturing being a dwindling part | :24:51. | :24:54. | |
of the economy. And the crux of this, Trump said we need | :24:55. | :24:57. | |
manufacturing jobs and these blue-collar workers to stay in the | :24:58. | :25:01. | |
States but what the article makes clear is that America is moving away | :25:02. | :25:06. | |
from these for nonpolitical reasons. And it is not just America, it is | :25:07. | :25:11. | |
everywhere where economies are developing. The other issue is that | :25:12. | :25:15. | |
even within manufacturing, the educational level required for the | :25:16. | :25:21. | |
workers is rising because you are getting more technology in | :25:22. | :25:24. | |
manufacturing and software and so the kind of people you need need to | :25:25. | :25:30. | |
be more white-collar. You also are getting more automation. It is all | :25:31. | :25:36. | |
changing and you can cushion that to some extent but you cannot really | :25:37. | :25:40. | |
hold it back over time. Interesting given the renegotiations happening | :25:41. | :25:47. | |
on Nafta between the US, Canada and Mexico. Lucy, good to see you. | :25:48. | :25:49. | |
Thank you for all your messages as well. We will be back tomorrow. | :25:50. | :25:56. | |
Goodbye. Good morning, rather chilly start | :25:57. | :26:12. | |
across many parts of the UK, some clear skies overnight. That | :26:13. | :26:15. | |
translated into sunshine for many parts through today come gradually | :26:16. | :26:21. | |
we will see some rain spreading from the West. Ahead of that, | :26:22. | :26:22. |