Browse content similar to 23/08/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News, with Rachel Horne and Ben Thompson. | :00:00. | :00:12. | |
Advertising a slowdown, global giant WPP misses targets | :00:13. | :00:14. | |
as big companies pull spending on adverts. | :00:15. | :00:15. | |
Live from London, that's our top story on Wednesday 23rd August. | :00:16. | :00:32. | |
Consumer giants are cutting their ad spend with WPP, but is it a sign | :00:33. | :00:36. | |
of economic weakness or just a symptom of the shift | :00:37. | :00:38. | |
Also in the programme, Typhoon Hato causes havoc in Hong Kong, | :00:39. | :00:44. | |
leading to hundreds of flights being cancelled and a stock | :00:45. | :00:47. | |
We have the FTSE 100, down, the WPP share prices down already tempers | :00:48. | :01:00. | |
and this morning. We will bring you all of those figures in a moment. | :01:01. | :01:05. | |
And we'll get the Inside Track on the cost of keeping fit. | :01:06. | :01:08. | |
We meet one man flexing his financial muscles - | :01:09. | :01:11. | |
and boosting his gym empire in the depths of a recession. | :01:12. | :01:14. | |
And with the global fitness industry now worth a staggering $83bn | :01:15. | :01:18. | |
a year we want to know, how much do you spend | :01:19. | :01:21. | |
WPP - the world's largest advertising group - | :01:22. | :01:40. | |
has cut its sales outlook, after a drop in demand | :01:41. | :01:43. | |
from consumer goods clients and weak trading in the US. | :01:44. | :01:46. | |
Like-for-like net sales fell 0.5% while underlying net sales in the US | :01:47. | :01:49. | |
fell by 2.2% in the first half of the year. | :01:50. | :01:51. | |
Shares in he giant have tanked this morning , | :01:52. | :01:53. | |
The advertiser is seen a bellwether for an industry that's changed | :01:54. | :01:58. | |
While the total spent by brands globally on advertising in 2016 | :01:59. | :02:06. | |
was up at $493 billion, where it's being spent | :02:07. | :02:11. | |
were effectivly flat, global digital ad sales | :02:12. | :02:21. | |
That number will of course keep growing, | :02:22. | :02:29. | |
and by 2021 it's estimated it will account for 50% of all adverts. | :02:30. | :02:32. | |
Well, mostly to Facebook and Google, together they control | :02:33. | :02:38. | |
54% of the global digital advertising market, | :02:39. | :02:40. | |
But are adverts on these platforms even getting to their audience? | :02:41. | :02:44. | |
It's been estimated that invalid traffic, that's where a bot rather | :02:45. | :02:48. | |
than a human views an advert, is costing advertisers a staggering | :02:49. | :02:51. | |
$16.5 billion a year, and that number is expected to grow. | :02:52. | :02:55. | |
Well, a little earlier I spoke to Sir Martin Sorrell, | :02:56. | :02:57. | |
the CEO of WPP who explained what his company was doing | :02:58. | :03:00. | |
There are a couple of points here. First there is the bots issue, that | :03:01. | :03:15. | |
these ads are not being watched by people but by machines and we are | :03:16. | :03:20. | |
ever vigilant on that. Group M, our media planning and buying company, | :03:21. | :03:26. | |
which buys about $75 billion of media around the world, about 25% of | :03:27. | :03:33. | |
worldwide media that goes direct to agencies, or goes through agencies. | :03:34. | :03:39. | |
They have very high standards, in terms of viewability, measurability | :03:40. | :03:43. | |
to try and counter that. And then there is the consumer brand safety | :03:44. | :03:47. | |
issue, which you are sort of referring to, which is that some | :03:48. | :03:51. | |
material might end up in less than satisfactory, to put it mildly, | :03:52. | :03:55. | |
areas or parts of the internet. And that is an area it has become even | :03:56. | :04:00. | |
more important, fake news and fraud also becoming important. And that is | :04:01. | :04:04. | |
a question. You can't be 100% certain that you can cover this, | :04:05. | :04:09. | |
that you can be much more stringent, in terms of the rules. Facebook, for | :04:10. | :04:14. | |
example, and Google have made strenuous efforts recently, under | :04:15. | :04:20. | |
some pressure to do so, but they have made strenuous efforts | :04:21. | :04:23. | |
recently, and they dominate digital advertising. | :04:24. | :04:28. | |
With us is Stephen Woodford, Chief Executive at the | :04:29. | :04:30. | |
There is a lot for us to get through in these results but first of all it | :04:31. | :04:37. | |
is worth living at what advertising tells us about the wider economy, | :04:38. | :04:42. | |
because it is one of those things we call a bellwether, when advertising | :04:43. | :04:46. | |
is doing well, the economy tends to do well, and vice versa. So what | :04:47. | :04:50. | |
does this tell us about the economy? When you look at the contribution | :04:51. | :04:54. | |
advertising makes to the economy it is a very important bellwether. It | :04:55. | :04:58. | |
has a big impact on the overall economy, as well as being a big | :04:59. | :05:02. | |
sector in its own right. One of the things we should think about it is | :05:03. | :05:06. | |
2016 was a record year for the advertising industry, particularly | :05:07. | :05:10. | |
in the UK. 2017, we are still forecasting some growth. Why was | :05:11. | :05:16. | |
2016 so good? It was surprisingly good because in effect all of the | :05:17. | :05:28. | |
Brexit scare stories did not serialise, the this is where it | :05:29. | :05:31. | |
feeds through to the bellwether, because business confidence in a | :05:32. | :05:34. | |
sense determines a lot of advertising decisions, so it is | :05:35. | :05:38. | |
businesses's expectations of what consumers will be doing. What do you | :05:39. | :05:43. | |
think that these figures we have seen from WPP? The markets are | :05:44. | :05:46. | |
surprised, the share price has fallen by over 10% this morning. | :05:47. | :05:51. | |
Were you expecting the sorts of figures from WPP? I think we were, | :05:52. | :05:55. | |
in terms of potentially less organic growth may have had in the past but | :05:56. | :05:59. | |
I can't really comment on the share price fall, but I do think it is | :06:00. | :06:04. | |
worth saying about WPP, it is the world's leading company so it is a | :06:05. | :06:08. | |
very good bellwether for the global advertising industry, and it is also | :06:09. | :06:10. | |
a reflection of the British advertising industry, how many | :06:11. | :06:16. | |
industries is the world's biggest company a British one? I think WPP | :06:17. | :06:19. | |
is something we should be very proud of here in the UK. If it is a | :06:20. | :06:23. | |
bellwether, does it sound the alarm that they are growing their growth | :06:24. | :06:28. | |
predictions, sales have fallen, problems in the US? I can't comment | :06:29. | :06:34. | |
on the detail of that but I think there is overall a potential | :06:35. | :06:37. | |
softening of demand because of the overall global economy. That being | :06:38. | :06:42. | |
said, if the US carries on performing strongly I would expect | :06:43. | :06:46. | |
advertising to rebound. Certainly in the UK at our expectations are low | :06:47. | :06:50. | |
growth but still some growth in line with the economy. If you look at an | :06:51. | :06:54. | |
organisation like WPP, traditionally made a lot of its money from TV and | :06:55. | :06:58. | |
big billboard ads. Clearly that has now changed and it is now digital. | :06:59. | :07:05. | |
You might say a integrated agency that can do online, print, big | :07:06. | :07:09. | |
posters and TV is commandeering the market. Where is the growth coming | :07:10. | :07:14. | |
from? Digital platforms in particular, and the piece before | :07:15. | :07:17. | |
talked about the growth of Google and Facebook. But it is worth saying | :07:18. | :07:22. | |
all advertising media is going digital. Even the oldest media, | :07:23. | :07:27. | |
posters, is not for the 5% digital, in terms of digital outdoor display | :07:28. | :07:31. | |
ads and so on. The industry, television and radio and press is | :07:32. | :07:39. | |
going digital. This year, digital revenues up by 25%, a quarter of all | :07:40. | :07:44. | |
of their advertising revenue. Even press is very strongly going on the | :07:45. | :07:48. | |
digital channels, so I think the whole industry is changing towards | :07:49. | :07:52. | |
more digital channels. This dominance from Facebook and Google, | :07:53. | :07:55. | |
when it comes to digital advertising, can you see anybody is | :07:56. | :08:01. | |
coming in in the future and taking any share off them? It is hard to | :08:02. | :08:05. | |
predict the future. The rise of other platforms, Google and Facebook | :08:06. | :08:11. | |
will fear most new platforms coming, whether it is Amazon or others. It | :08:12. | :08:16. | |
is a strong overall indicator of the health of the market is the balance | :08:17. | :08:20. | |
between these two things. Generally, advertising works best when you use | :08:21. | :08:24. | |
a multiple of channels, ideally for the five different channels. TV on | :08:25. | :08:28. | |
its own can be very good, digital on its own can be very good, when you | :08:29. | :08:32. | |
use the two together you get better results. The best advertising tends | :08:33. | :08:39. | |
from using brand building advertising and short-term | :08:40. | :08:43. | |
advertising, which is usually digital. You have an update on the | :08:44. | :08:48. | |
WPP share price, you saw it on the screen, it is down 149 points this | :08:49. | :08:53. | |
morning, more than a 10% fall in the share price in the first 38 minutes | :08:54. | :08:58. | |
of trade for WPP, so investors not to thrilled. | :08:59. | :09:05. | |
In Hong Kong, the city's stock market has been shut down | :09:06. | :09:08. | |
and flights have been cancelled by Typhoon Hato, which has been | :09:09. | :09:11. | |
Sharanjit Leyl is in our Asia business hub. | :09:12. | :09:16. | |
What impact is that storm having on the financial markets, they have | :09:17. | :09:22. | |
been shut, schools and businesses shut, what impact will that have on | :09:23. | :09:27. | |
the city? You pretty much said it, all of those things are shut down. | :09:28. | :09:31. | |
Hong Kong has come pretty much to a standstill. The typhoon really a | :09:32. | :09:39. | |
category eight storm, down from category ten, which means the struct | :09:40. | :09:44. | |
of Winscombe huge waves, uprooted trees, flooded streets, closed | :09:45. | :09:50. | |
businesses. No trade for the Hang Seng. We know it is the worst storm | :09:51. | :09:54. | |
the special administrative territory hasn't Jordan Silk -- since 2012. | :09:55. | :10:00. | |
More than 400 flights have been cancelled and cafe Pacific said the | :10:01. | :10:11. | |
storm would severely impact flights. We are told only one flight managed | :10:12. | :10:15. | |
to land earlier this morning. Now the schools are closed, all of the | :10:16. | :10:21. | |
skyscrapers in Hong Kong's iconic skyline are shrouded in darkness, as | :10:22. | :10:26. | |
workers stay home. Bearing in mind it had been a category ten typhoon | :10:27. | :10:29. | |
warning initially and this was really only the third time one had | :10:30. | :10:33. | |
been issued since 1997 when the former British colony was handed | :10:34. | :10:37. | |
over to China. Even though the territory suffers the storms on | :10:38. | :10:40. | |
pretty much an annual basis, this one may well be bad enough to have | :10:41. | :10:43. | |
an impact on businesses and the economy. Thank you very much. | :10:44. | :10:50. | |
Let's take a look at some of the other stories making the news. | :10:51. | :10:53. | |
Chinese car-maker Great Wall Motor has said it has not held | :10:54. | :10:56. | |
talks with Fiat Chrysler, putting a possible bid | :10:57. | :10:58. | |
Great Wall confirmed it had researched the US-Italian car-maker | :10:59. | :11:02. | |
but made no substantial progress towards a deal. | :11:03. | :11:07. | |
On Monday, the car-maker expressed interest in buying | :11:08. | :11:09. | |
Shares in the Chinese firm fell 2% in Shanghai after the announcement, | :11:10. | :11:17. | |
Amazon's blockbuster deal to acquire Whole Foods Market for $13.7 billion | :11:18. | :11:21. | |
Whole Foods shareholders are voting today on the deal, | :11:22. | :11:27. | |
which would propel Amazon further into the grocery business | :11:28. | :11:29. | |
The size of the gender pay gap in the movie industry has been | :11:30. | :11:35. | |
It estimates the top ten actors earned $488m last year - | :11:36. | :11:40. | |
three times their female counterparts - who took home $172m. | :11:41. | :11:45. | |
Transformers star Mark Wahlberg tops the male list at $68m, compared | :11:46. | :11:48. | |
with $26m for La La Land's Emma Stone. | :11:49. | :12:02. | |
Let's look at how the markets have been getting on. Markets in Asia | :12:03. | :12:08. | |
generally up just a little, following a surge they saw yesterday | :12:09. | :12:12. | |
running with a bit of optimism over US tax reform plans. The Hang Seng | :12:13. | :12:18. | |
is actually closed at the minute because of typhoon Hato, so that is | :12:19. | :12:22. | |
why it is flat. Wall Street, the dial up almost 8%. An even higher | :12:23. | :12:29. | |
rise on the Nasdaq. Much more attention will be on the central | :12:30. | :12:34. | |
bank meeting duties. Tomorrow. Will the Federal Reserve boss give any | :12:35. | :12:38. | |
plans about the bank's plans to wind in its huge bond holdings? We will | :12:39. | :12:43. | |
talk about that in a moment. Let's see European markets have been | :12:44. | :12:49. | |
doing, the FTSE is down ever so slightly. WPP share prices down more | :12:50. | :12:59. | |
than 11% now this morning. Future growth down from 2% to between zero | :13:00. | :13:09. | |
and 1%. In Europe, central bank chief, the ECB chief, Mario draggy, | :13:10. | :13:13. | |
he is going to speak today. Investors will be looking to see | :13:14. | :13:18. | |
what he says. Let's go to Wall Street and Michelle Fleury. When | :13:19. | :13:24. | |
Hewlett-Packard split into two companies, HP ink which has as its | :13:25. | :13:28. | |
printer and copier business was considered the runt of the letter. | :13:29. | :13:33. | |
Investors saw for growth opportunities in the enterprise side | :13:34. | :13:39. | |
but HP think has surprised many, in a good way. -- HP Ink. Given the | :13:40. | :13:46. | |
lacklustre PC and printer market, profits are likely to fall. Look out | :13:47. | :13:52. | |
for more news on America's housing market. Recent data shows house | :13:53. | :14:00. | |
prices have recovered. The latest figure is expected to show an | :14:01. | :14:04. | |
increase in July but investors are watching the signs of weakness. So | :14:05. | :14:07. | |
well concerned over a looming slowdown hurt profits at home | :14:08. | :14:16. | |
improvement retailer, Lowes, which shows its second-quarter results. | :14:17. | :14:18. | |
Joining us is James Quinn, business editor, Telegraph Media Group. | :14:19. | :14:27. | |
We spoke about WPP at the start of the show. Is this a shock? I think | :14:28. | :14:35. | |
it is one of those bellwether stocks. If you look at the global | :14:36. | :14:40. | |
economy, pretty stark words from Martin Sorrell earlier. I think it | :14:41. | :14:46. | |
is a surprise, yeah. Possibly an element of surprise. The share price | :14:47. | :14:53. | |
will probably end the day six or 7% down. When a company share price | :14:54. | :14:59. | |
drops this far, this fast, will you now see people going, let's by a | :15:00. | :15:08. | |
bargain? There will be some bargain buyers looking for activity. It is | :15:09. | :15:11. | |
August. A lot of traders will be away. A lot of problematic trades | :15:12. | :15:16. | |
kicks in there. Then real-life traders return. Sally is not here | :15:17. | :15:23. | |
today. She gets very excited about the central bank action. I will play | :15:24. | :15:28. | |
that role. We will hear from Mario Draghi today. What we expect from | :15:29. | :15:39. | |
Mario Draghi? She has started speaking while we have been on air. | :15:40. | :15:44. | |
He is largely talking about Monetary Policy Committee regulation. Not | :15:45. | :15:47. | |
talking too much about tapering. The initial reaction was quite muted. At | :15:48. | :15:51. | |
the same time we have strong numbers from Germany today showing how | :15:52. | :15:56. | |
strongly the German economy is growing. That is quite interesting | :15:57. | :15:59. | |
in terms of what he and Janet Yellen will talk about. I think she will | :16:00. | :16:07. | |
avoid talking about tapering. Her speech will focus on financial | :16:08. | :16:14. | |
stability. The speeches are analysed to the nth degree. On the on this | :16:15. | :16:20. | |
programme can we talk about someone making a speech to avoid something. | :16:21. | :16:24. | |
We will talk more in awhile. For now, thanks. | :16:25. | :16:27. | |
Still to come, the business of fitness - we hear from the man | :16:28. | :16:30. | |
who's bucking an economic slowdown and running one of the world's most | :16:31. | :16:33. | |
successful gym chains in South America. | :16:34. | :16:35. | |
You're with Business Live from BBC News. | :16:36. | :16:45. | |
Identity theft has hit new record levels, according to the Fraud | :16:46. | :16:49. | |
It says nearly 90,000 cases were recorded by the group | :16:50. | :16:55. | |
in the first half of the year, with young adults | :16:56. | :16:58. | |
The BBC's personal finance reporter, Kevin Peachey, | :16:59. | :17:01. | |
Kevin, what do the numbers tell us? They show that cases went up by 5% | :17:02. | :17:14. | |
in the first half of the year. That takes it to 500 cases a day. | :17:15. | :17:18. | |
Name-macro says it has reached epidemic levels. -- Theresa May. It | :17:19. | :17:24. | |
is not the old and vulnerable. It is people in their 30s and 40s. People | :17:25. | :17:28. | |
with a digital footprint to have been online are social media and so | :17:29. | :17:33. | |
their identities have been stolen. What can people do to prevent it? Is | :17:34. | :17:40. | |
it as simple as constantly changing your password? There is an element | :17:41. | :17:44. | |
of that. Some people don't realise they have been victims because the | :17:45. | :17:48. | |
fraudsters have taken out a loan in their name. They are getting their | :17:49. | :17:53. | |
details from public records and the dark web, part of the Internet that | :17:54. | :17:57. | |
is not available on a conventional search. So Cifas says yes, people | :17:58. | :18:00. | |
should be changing their passwords. They should be using... Employers | :18:01. | :18:10. | |
should be educating staff on how to keep on top of fraud prevention and | :18:11. | :18:14. | |
making sure they are changing passwords and keeping safe online. | :18:15. | :18:18. | |
What is really interesting is that young adults are the most likely | :18:19. | :18:22. | |
target. When we think about online fraud, we thought maybe it was older | :18:23. | :18:28. | |
people? Absolutely. The over 60s are the only age group cases are going | :18:29. | :18:34. | |
down it is coming up the fastest among 20-year-olds. That is clearly | :18:35. | :18:38. | |
because they are part of social media. They have a strong online | :18:39. | :18:43. | |
presence. The 30s and 40s are where the most cases are overall. | :18:44. | :18:48. | |
Thank you, Kevin. Go and change your password. There is an interesting | :18:49. | :18:53. | |
story on the Business Live page. The new Heathrow boss slamming -- the | :18:54. | :18:59. | |
former BA boss slamming Heathrow over its new runway. He says the | :19:00. | :19:07. | |
plans are not credible. Sir Rod Eddington is advising a rival scheme | :19:08. | :19:11. | |
proposing an alternative to the runway at Heathrow. Nonetheless, he | :19:12. | :19:17. | |
knows what he is talking about. This claim will have some weight. That is | :19:18. | :19:19. | |
on the website. Our top story - the world's biggest | :19:20. | :19:23. | |
advertising group, WPP, has cut its sales outlook, | :19:24. | :19:27. | |
following a drop in demand from consumer goods companies | :19:28. | :19:30. | |
and weak trading in the US. Let me show you what the markets are | :19:31. | :19:44. | |
doing. WPP one of the big fall is so far. Currently down almost 11%. | :19:45. | :19:49. | |
Investors somewhat surprised by that lowering of the growth forecast. | :19:50. | :19:56. | |
That is probably why the FTSE 100 has tipped into the red. The pound | :19:57. | :20:01. | |
weakening once again over the course of the week. That has been a | :20:02. | :20:03. | |
continuing trend stop And now let's get the inside track | :20:04. | :20:05. | |
on the fitness industry... Globally the industry | :20:06. | :20:08. | |
was worth $83.1bn in 2016, and it continues to grow, | :20:09. | :20:11. | |
specially in Europe and the USA. Latin America has seen slower | :20:12. | :20:17. | |
growth, but 20 million consumers there use more | :20:18. | :20:19. | |
than 65,000 health clubs. In Brazil, one man has | :20:20. | :20:22. | |
been defying all trends. Edgard Corona's Smart Fit now has | :20:23. | :20:26. | |
365 gyms across the continent. The BBC's Daniel Gallas metup | :20:27. | :20:33. | |
with him in Sao Paulo. He began by askinghim how he has | :20:34. | :20:35. | |
expand the business in the middle the whole idea is that -- at the | :20:36. | :20:51. | |
beginning is less divine. When we want uniforms, we chose fashion | :20:52. | :20:56. | |
designers. It is a very important factor. Everything together. The | :20:57. | :21:07. | |
system that you provide, the programmes that you create, help us | :21:08. | :21:11. | |
to be different from the market. If you are in the US, from the total | :21:12. | :21:18. | |
number of members, you have 70 weight percent in this business. -- | :21:19. | :21:27. | |
seven to 8%. The people come. What makes members stay is the right | :21:28. | :21:30. | |
process to deliver results. What we are looking for and trying to | :21:31. | :21:35. | |
improve his results in a short period of time. So the great value | :21:36. | :21:45. | |
that you have is time. If I ask you to exercise two hours a day, you | :21:46. | :21:52. | |
will say, I don't have this time. But you can come here three times a | :21:53. | :21:59. | |
week, 30 minutes. Increase your metallic -- metabolism speed, reduce | :22:00. | :22:03. | |
your weight, improve your health. You will see a healthy, more | :22:04. | :22:12. | |
beautiful, thinner... A lot of people say that Brazil is a very | :22:13. | :22:15. | |
hard place to do business, that it is risky to invest here. Why do you | :22:16. | :22:23. | |
do it and how do you do it? For sure, maybe it's not an easy place | :22:24. | :22:29. | |
to do business. But in Brazil, everything that you do, regulations, | :22:30. | :22:34. | |
regular Tories and everything, is very, very tough. A lot of laws, a | :22:35. | :22:46. | |
lot of rules to improve people's lives. And most expensive. Maybe | :22:47. | :22:58. | |
Latin Americans understand how to work in this kind of environment. | :22:59. | :23:07. | |
Expanding in a downturn. Some markets are pretty resilient. We | :23:08. | :23:09. | |
have been asking you how much you would spend on keeping fit. Amanda | :23:10. | :23:18. | |
says walking and housework are free. Ed says, how much of that ?83 | :23:19. | :23:24. | |
billion, it's actually dolorous, is made up of multiple gym memberships | :23:25. | :23:32. | |
going on used? Jerome says he pays ?90 per month, which is ?300 for | :23:33. | :23:38. | |
every swim he takes. Samantha says ?85 on running trainers, worth every | :23:39. | :23:43. | |
penny. Good trainer is important. Andrew says YouTube provide advice | :23:44. | :23:48. | |
for exercise at home. Lots of free online sessions. Jim locations are | :23:49. | :23:55. | |
very smart these days. Mine is next to a KFC and a McDonald's. It is a | :23:56. | :24:00. | |
vicious circle. James Quinn is back with us. There is a really nice | :24:01. | :24:09. | |
story in the Guardian. Poor and overpriced funfair rides could be | :24:10. | :24:13. | |
closed under new rules. There is a shining light on this, we may get | :24:14. | :24:20. | |
better rides? That's right. The competition authority has decided to | :24:21. | :24:26. | |
look at this sector, questioning whether when one funfair comes to a | :24:27. | :24:30. | |
town, whether another one can, the same time, whether pricing too high. | :24:31. | :24:35. | |
They are really expensive. If you want to go on the merry-go-round, it | :24:36. | :24:43. | |
is $5, $6. Yes. Some pricing is in question. The showman 's Guild of | :24:44. | :24:50. | |
Great Britain, the governing body of the funfairs, has said, yes, we | :24:51. | :24:55. | |
agreed. Maybe some of our practices are not up to scratch in the modern | :24:56. | :25:04. | |
era. Let's wrote in the New York Times. Apple plans for a self | :25:05. | :25:12. | |
driving car. It is a crowded market. It seems Apple has decided they will | :25:13. | :25:16. | |
put their technology to use in a self driving car. Apple's | :25:17. | :25:22. | |
headquarters is in silicon valley in the US. They will try this | :25:23. | :25:27. | |
technology in a shuttle bus that takes employees to work. That is a | :25:28. | :25:33. | |
risk! It is slightly different to testing and iPhone! Good to see you. | :25:34. | :25:40. | |
Thank you James. Good -- thank you for all your comments. | :25:41. | :25:45. | |
Really interesting when you talk about how much the fitness industry | :25:46. | :25:53. | |
is worth. 83 billion dollars a year. It is all the gear, everything. | :25:54. | :25:55. | |
There will be more business news throughout the day | :25:56. | :25:59. | |
on the BBC Live web page, and on World Business Report. | :26:00. | :26:01. | |
Good morning. It has been a pretty wet night across Northern Ireland | :26:02. | :26:14. | |
and Scotland. I am hopeful of the weather improving from any today as | :26:15. | :26:22. | |
the rain band clears, you can see the front which is draped across | :26:23. | :26:23. |