Browse content similar to 01/09/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Susannah Streeter | :00:00. | :00:00. | |
The UK must not allow itself to be blackmailed | :00:07. | :00:12. | |
of Britain's International Trade minister. | :00:13. | :00:20. | |
Live from London, that's our top story on Friday the first | :00:21. | :00:25. | |
One of the UK's top politicians says the EU should | :00:26. | :00:39. | |
get on with negotiating a post-Brexit trade arrangement. | :00:40. | :00:45. | |
But they're insisting the divorce bill must be settled first. | :00:46. | :00:47. | |
We're going to discuss who the likely winner | :00:48. | :00:51. | |
Samsung secures self-driving car permit in California. | :00:52. | :00:59. | |
Are tech firms about to drive traditional auto | :01:00. | :01:01. | |
And this is the latest from the financial markets. Stocks are on the | :01:02. | :01:11. | |
up. And we'll be looking | :01:12. | :01:12. | |
at what has been a busy week of economic stories - | :01:13. | :01:15. | |
India has had a surprising slowdown in growth, and the ride sharing app | :01:16. | :01:17. | |
Uber gets a new boss. And after two flights were held | :01:18. | :01:20. | |
on the tarmac at Ottawa for hours in conditions passengers | :01:21. | :01:23. | |
called deplorable, leading to an investigation, | :01:24. | :01:24. | |
We want to hear your Let us know, just use | :01:25. | :01:26. | |
the hashtag #BBCBizLive. The UK's International Trade | :01:27. | :01:37. | |
Secretary Liam Fox says businesses are "getting impatient" | :01:38. | :01:43. | |
about the progress of Brexit negotiations but the country must | :01:44. | :01:45. | |
not allow itself to be "blackmailed" by the EU over its so | :01:46. | :01:47. | |
called divorce bill. Those comments come less than 12 | :01:48. | :01:57. | |
hours after the EU's chief negotiator said there had been no | :01:58. | :01:59. | |
"decisive progress" during this As well as EU's citizens' rights | :02:00. | :02:02. | |
and the Irish border, the biggest sticking point | :02:03. | :02:05. | |
is the UK's settlement bill. Although no figures have | :02:06. | :02:09. | |
been officially cited, the European Commission president | :02:10. | :02:11. | |
has mentioned a figure The is no official | :02:12. | :02:13. | |
formula for that figure. the UK's $11 billion a year UK net | :02:14. | :02:20. | |
budget contribution, that's what we pay minus what we get back, | :02:21. | :02:29. | |
must continue until 2020. UK | :02:30. | :02:32. | |
negotiators though are The UK had hoped to | :02:33. | :02:33. | |
begin talks in October on a future trade agreement, | :02:34. | :02:39. | |
but the EU's chief negotiator says progress is too slow on other issues | :02:40. | :02:42. | |
and there is now "little That hasn't stopped the UK | :02:43. | :02:45. | |
from discussing trade deals Later today the UK's | :02:46. | :02:49. | |
Brexit Secretary David Davis will give a speech at the US | :02:50. | :02:55. | |
Chambers of Commerce in Washington And as we speak the UK's | :02:56. | :02:58. | |
Prime Minister is on her way back from a trade trip to Japan, | :02:59. | :03:05. | |
a country whose companies employ Now, Liam Fox, the British | :03:06. | :03:08. | |
Secretary of State for was also on that trip - | :03:09. | :03:13. | |
Here's what he told It's very clear that businesses not | :03:14. | :03:16. | |
just in Europe but investors in places like here in Japan | :03:17. | :03:22. | |
are getting impatient, and want to see what that final | :03:23. | :03:24. | |
shape of that arrangement It's very clear that businesses not | :03:25. | :03:26. | |
just in Europe but investors in places like here in Japan | :03:27. | :03:32. | |
are getting impatient, They want to know that there'll | :03:33. | :03:33. | |
continue to be an open and liberal trading environment in Europe, | :03:34. | :03:36. | |
and there's a worry that if it's not the sort | :03:37. | :03:38. | |
of agreement that Britain wants, you could end up with impediments to | :03:39. | :03:41. | |
trade and investment across Europe That was Liam Fox. We are joined now | :03:42. | :03:44. | |
by: You have done international trade | :03:45. | :04:02. | |
deals for the US and corporate. What is a difficult about trade deals, | :04:03. | :04:05. | |
and what you think the UK Government should be focusing on our? The one | :04:06. | :04:11. | |
thing that is difficult about trade deals is it is boring and tedious | :04:12. | :04:17. | |
and all about the detail. What the US/ UK Government should be focusing | :04:18. | :04:21. | |
on is consolidating its going in position, because we are really all | :04:22. | :04:28. | |
over the place, soft Brexit, hard Brexit, read, Blue and Whites | :04:29. | :04:36. | |
Brexit. Michel Barnier needs the specifics. If you do negotiations, | :04:37. | :04:41. | |
unless you have a really good going imposition, it is very hard to get | :04:42. | :04:49. | |
to a compromise somewhere. But these are not traditional negotiations, | :04:50. | :04:52. | |
because you have 27 member states and although these need to be taken | :04:53. | :04:56. | |
into account, and it seems as though the EU is really sticking to its | :04:57. | :05:00. | |
guns and saying, we are not moving, it is up to the UK to move a little | :05:01. | :05:04. | |
bit more, because it is difficult for the EU to move, isn't it? Mr | :05:05. | :05:18. | |
Barnier has been given his instructions, and he has 27 bosses, | :05:19. | :05:22. | |
actually 28 because the commission is another, so he can't just go back | :05:23. | :05:32. | |
and say let's go be lenient, he has to stick to his instructions. It is | :05:33. | :05:36. | |
easier for the UK to say let's be flexible and innovative. Mr Davies | :05:37. | :05:43. | |
only has to go to his boss, Mrs May, he doesn't have to go to 28 people, | :05:44. | :05:48. | |
so in that sense, yes there is a process, and because it is so | :05:49. | :05:52. | |
complex, the EU is so big, they need to be quite rigid and sticking to | :05:53. | :05:58. | |
their instructions. Until the official deal is done with the EU, | :05:59. | :06:03. | |
the UK cannot do any official trade deals with anyone else, but we know | :06:04. | :06:09. | |
the officials are in Japan,. What companies countries do you think | :06:10. | :06:17. | |
that we should focus on? We had summary on earlier saying that we | :06:18. | :06:20. | |
should focus on people have little access like India, we already export | :06:21. | :06:23. | |
a lot to the US. The one thing I would say there, though, you heard | :06:24. | :06:33. | |
it from Prime Minister Abe, he wants clarity on the deal, and every | :06:34. | :06:36. | |
consequent deal will evolve from the shape that the UK/ EU deal house, | :06:37. | :06:43. | |
because especially for investment, it is very important if you want to | :06:44. | :06:48. | |
export. Our biggest market is the EU. We want to know whether you can | :06:49. | :06:53. | |
produce in here, and with these exports to the EU or not. I'm sure | :06:54. | :06:59. | |
we will talk about this again very soon, thank you. | :07:00. | :07:01. | |
Let's take a look at some of the other stories making the news. | :07:02. | :07:04. | |
The costs of storm Harvey in Texas are mounting - | :07:05. | :07:06. | |
with some analysts now estimating losses could approach $100bn. | :07:07. | :07:14. | |
The storm has killed at least 33 people and destroyed | :07:15. | :07:16. | |
Many firms in the region - which is home to the oil | :07:17. | :07:20. | |
and gas industry - don't know when they will | :07:21. | :07:22. | |
Sales of vacuum cleaners that produce more noise and heat | :07:23. | :07:26. | |
than suction are banned under EU rules from today. | :07:27. | :07:28. | |
The ban affects machines using more than 900 watts and emitting | :07:29. | :07:31. | |
Some campaigners say homes now won't be properly cleaned - | :07:32. | :07:34. | |
but energy experts say the best low-powered vacuum cleaners do just | :07:35. | :07:37. | |
The mining giant Rio Tinto has completed the sale of most | :07:38. | :07:44. | |
of its Australian coal assets to the China-based firm Yancoal. | :07:45. | :07:48. | |
The world's second biggest miner raised $2.5bn from the sale - | :07:49. | :07:51. | |
and will earn about $250m in royalty payments. | :07:52. | :08:00. | |
The world's largest smartphone maker has | :08:01. | :08:04. | |
received a permit to start testing autonomous cars in California. | :08:05. | :08:06. | |
Toms is in our Asia business hub with the details. | :08:07. | :08:18. | |
It has just got the green light. Samsung makes arriving from TVs, | :08:19. | :08:25. | |
fans, washing machines, and now it is trying its hand at self driving | :08:26. | :08:29. | |
cars. The electronics giant is joining a long list of companies | :08:30. | :08:33. | |
doing that, including car manufacturers such as BMW and | :08:34. | :08:37. | |
General Motors, but it is also keeping up with tech companies like | :08:38. | :08:44. | |
its arch rival Apple, and Alphabet. This comes several months after it | :08:45. | :08:51. | |
bought a car parts supply of $8 billion, and Samsung has already got | :08:52. | :08:54. | |
the go-ahead to test self driving cars in its own country, South | :08:55. | :09:00. | |
Korea. And remember, Samsung is focusing on self driving car | :09:01. | :09:02. | |
software rather than creating an entire vehicle. And with the OK to | :09:03. | :09:08. | |
test on public roads in California, it looks like Samsung's positioning | :09:09. | :09:11. | |
itself to offer its technology to other companies, including car | :09:12. | :09:16. | |
manufacturers. Sarah, many thanks for that. Self drive cars, the new | :09:17. | :09:21. | |
frontier for Samsung, lots of other text runs as well. Let's take a look | :09:22. | :09:24. | |
at the financial markets. are up - following another rise | :09:25. | :09:26. | |
on Wall Street as worries over both North Korea and Storm Harvey seem | :09:27. | :09:38. | |
to have eased slightly. has boosted the share prices | :09:39. | :09:40. | |
of Japanese exporters - it means their goods | :09:41. | :09:44. | |
are cheaper for foreign buyers. at what's happening in Europe | :09:45. | :09:46. | |
since trading began this morning Investors will be keeping their eye | :09:47. | :09:49. | |
on a key a key US jobs figure out later Michelle Fleurey has | :09:50. | :09:53. | |
the details about what's ahead A second round of trade talks to | :09:54. | :10:02. | |
renegotiate the North American Free Trade Agreement, or Nafta, begins in | :10:03. | :10:07. | |
Mexico City this Friday. Early in the week, US President Donald Trump | :10:08. | :10:10. | |
repeated his threat to rip up the deal if he doesn't get his way. | :10:11. | :10:16. | |
Negotiators for the US, Mexico and Canada are pushing to modernise the | :10:17. | :10:20. | |
23-year-old agreement ahead of Mexico's presidential election next | :10:21. | :10:25. | |
year. And the US Labor Department releases its monthly employment | :10:26. | :10:28. | |
report. It is likely to show that American employers added 180,000 | :10:29. | :10:34. | |
jobs in August. That follows a better-than-expected increase of | :10:35. | :10:40. | |
2009000 in July. No changes expected in the unemployment rate, with wages | :10:41. | :10:43. | |
expected to be the real focus for investors, given the lack of wage | :10:44. | :10:51. | |
inflation in the recovery. Monthly car sales figures are due out, and | :10:52. | :10:56. | |
even before hurricane Harvey, which many predict will dent sales, | :10:57. | :11:00. | |
numbers were expected to be disappointing. That was Michelle | :11:01. | :11:06. | |
Fleury and Wall Street for us. Joining us is James Bevan, chief | :11:07. | :11:10. | |
investment officer at CC LA in vessel and management. Figures | :11:11. | :11:21. | |
suggesting losses could approach $100 billion after the effects of | :11:22. | :11:29. | |
Hurricane Harvey. Everybody wants to cap the immediate cost, but in | :11:30. | :11:35. | |
practice, economies have injections of cash because of the rebuilding, | :11:36. | :11:39. | |
so in 18 months' time were we would expect the economy to be in a better | :11:40. | :11:42. | |
place than it is today because of this. Did we see that after | :11:43. | :11:49. | |
Hurricane Katrina? Yes, because new housing has to be built, big | :11:50. | :11:54. | |
infrastructure programmes, consumer confidence rises quite quickly. So | :11:55. | :11:57. | |
good for businesses, but from many people it is a very difficult | :11:58. | :12:02. | |
situation. Yes, and there is a big difference between a broader economy | :12:03. | :12:05. | |
effect on the local effect. If you are a business that loses out | :12:06. | :12:09. | |
locally, doesn't mean that another business can't take up the slack and | :12:10. | :12:12. | |
therefore continue to produce overall levels consistent for demand | :12:13. | :12:17. | |
within the economy. We're talking focusing on the US floods, but right | :12:18. | :12:22. | |
across India, Bangladesh, Nepal, devastating floods. More than a | :12:23. | :12:26. | |
thousand people killed in them. What impact is that having in the | :12:27. | :12:30. | |
short-term, and would you see those same types of reconstruction boosts | :12:31. | :12:34. | |
to those economies going forward? There are couple of issues that are | :12:35. | :12:38. | |
important. In terms of the coverage it is clear that the Hindustan | :12:39. | :12:41. | |
times, for example, has much more coverage of India, whereas in the | :12:42. | :12:45. | |
West we have for five times as much coverage of the US hurricanes than | :12:46. | :12:49. | |
we do the Asian ones, so there is a big geographical challenge in terms | :12:50. | :12:54. | |
of what we take seriously and why. In terms of the economy, India had | :12:55. | :12:58. | |
already cut its interest rate in August, it recognises the economy is | :12:59. | :13:04. | |
slowing. I think it is important to see how much infrastructure takes | :13:05. | :13:08. | |
place in India's cities. That is why the floods have been particularly | :13:09. | :13:17. | |
difficult. Some of the focus has been on the gasoline industry, which | :13:18. | :13:23. | |
is why prices have shot up. What using the prospects are going | :13:24. | :13:26. | |
forward? The storm has abated but still many refineries are right of | :13:27. | :13:31. | |
action. A 10% shift in the oil prices is the same roughly as a $10 | :13:32. | :13:35. | |
billion tax hike on the consumer, so I think we are likely to seize on | :13:36. | :13:38. | |
Government action in terms of spending. This comes at a good time | :13:39. | :13:42. | |
for Mr Trump in that sense, because there is a clear expectation that he | :13:43. | :13:46. | |
will find it very difficult to get his fiscal reforms | :13:47. | :14:00. | |
through process. It is really important that the US is able to | :14:01. | :14:03. | |
continue in business, and therefore the debt ceiling arrangements also | :14:04. | :14:06. | |
have to be addressed within the next six weeks. So in a sense although | :14:07. | :14:09. | |
this is a local disaster, it is not good news, but this might be good | :14:10. | :14:12. | |
news for the US economy. Over here we are already beginning to see | :14:13. | :14:14. | |
signs that there will be rising oil prices and petrol prices as well. | :14:15. | :14:17. | |
James Bevan, thank you very much. Still to come: | :14:18. | :14:17. | |
at what's been a busy week of economic stories. | :14:18. | :14:23. | |
a surprising slowdown in growth, and the ride sharing app | :14:24. | :14:27. | |
You're with Business Live from BBC News. | :14:28. | :14:33. | |
The hop harvest is getting under way this week and it's set to be a good | :14:34. | :14:37. | |
But what will it mean for Britain's booming beer industry? | :14:38. | :14:40. | |
Ben Thompson's on a hop farm in the foothills | :14:41. | :14:42. | |
Welcome to a glorious morning down here in Worcestershire. We are with | :14:43. | :14:55. | |
the hop harvest in what's going to be a bumper year for the crop. The | :14:56. | :15:00. | |
farmers are out collecting the crop at this point in the morning. It | :15:01. | :15:04. | |
will be sold around the world. Used in the UK but also sold to Asia and | :15:05. | :15:10. | |
the United States and to Europe. Good morning. A good harvest this | :15:11. | :15:15. | |
year. It's looking like it's going to be a beautiful harvest. The hops | :15:16. | :15:20. | |
are you are coming in well. Beautiful green and weighing heavy | :15:21. | :15:23. | |
at the moment. Fingers crossed. What are we looking at here, it's a huge | :15:24. | :15:27. | |
plant but it's just this little bit that you need. Show us here. It's | :15:28. | :15:31. | |
just the flower. We have got this plant that grows to about six metres | :15:32. | :15:35. | |
tall. We have a lot of leaf and a lot of stem, we call that the bine, | :15:36. | :15:40. | |
all the brewer wants is the flower and it's the yellow in the base of | :15:41. | :15:46. | |
the flower which is the gland and in there we have the hop oils and | :15:47. | :15:52. | |
aromas. In the case of the goldings hop we have floral, honey, spicy | :15:53. | :15:56. | |
flavour notes, it's those flavours that they want coming through into | :15:57. | :16:01. | |
the beer. That's what the hop harvest is all about, getting tiny | :16:02. | :16:10. | |
flowers off the plant and baled, dried, ready to go to the brewer. | :16:11. | :16:14. | |
This love for craft beer must be good news for people like you? The | :16:15. | :16:18. | |
craft brewing industry is brilliant news for hop growers because the | :16:19. | :16:23. | |
utilisation, we call it the utilisation rate of hops, is much | :16:24. | :16:30. | |
higher. Craft beer is about flavour, it's about provenance and quality. | :16:31. | :16:33. | |
In that drink you have a high number of hops which is brilliant news for | :16:34. | :16:38. | |
farmers. Thank you very much. We are going to stay here, they've promised | :16:39. | :16:45. | |
me a little bit of beer later! From me, back to you. | :16:46. | :16:55. | |
Ben gets all the best jobs. A tasting session, it is Friday | :16:56. | :16:56. | |
afternoon. Some suggesting this is a PR | :16:57. | :17:08. | |
exercise. You can get details on our website. | :17:09. | :17:18. | |
You're watching business Business Live. Our top story, the UK's | :17:19. | :17:23. | |
international trade Secretary is accusing the European Union of | :17:24. | :17:26. | |
trying to blackmail the UK into agreeing a Brexit divorce bill. Liam | :17:27. | :17:30. | |
Fox says it's wrong of Brussels to insist that the issue needs | :17:31. | :17:32. | |
resolving before trade talks can begin. | :17:33. | :17:36. | |
Let's look at the financial markets. This is the situation since the | :17:37. | :17:48. | |
markets opened. The FTSE 100 and the DAX and the CAC on the up. | :17:49. | :17:54. | |
Let's get the inside track on this week's big economics stories with | :17:55. | :18:00. | |
our correspondent. The Indian economy has been | :18:01. | :18:03. | |
suffering a slow down. Thank you for coming into the studio. Tell us | :18:04. | :18:14. | |
more, has this thing about withdrawing high denomination cash | :18:15. | :18:18. | |
notes out of the economy. The idea was to make people pay tax. They | :18:19. | :18:23. | |
were hiding this money, bank notes under the bed and the tax | :18:24. | :18:27. | |
authorities didn't know about it. The Prime Minister and the Minister | :18:28. | :18:30. | |
at the time thought this is to get people to pay tax. It stripped money | :18:31. | :18:34. | |
out of April economy which is based on cash. Banking system, credit | :18:35. | :18:40. | |
cards, internet shopping are less sophisticated and widespread in | :18:41. | :18:43. | |
India than other countries. People are paid in cash and buy in cash. | :18:44. | :18:47. | |
Thoughing the notes out of the economy was a hit. Then in the last | :18:48. | :18:51. | |
couple of months we seen the Government introduce a new sales | :18:52. | :18:55. | |
tax, companies were confused about how it would work, those two effects | :18:56. | :19:01. | |
seem to have slowed the economy marketly. It. Was expected to be | :19:02. | :19:09. | |
over 6%. Let's talk about Uber, a change of leadership. They've had a | :19:10. | :19:13. | |
difficult past, shall we say. They might have thought the new CEO would | :19:14. | :19:18. | |
be a new chapter and beginning, but already they're having to talk about | :19:19. | :19:23. | |
a bribery allegations. How is the company? Well, it's too early to | :19:24. | :19:27. | |
blame the new boss for that one T happened before him. This reminds | :19:28. | :19:34. | |
me, when I was at school we did a history course on the age of | :19:35. | :19:40. | |
expansion, conquering Mexico and carving out an empire for Spain that | :19:41. | :19:43. | |
made individuals wealthy. If you think about internet companies that | :19:44. | :19:46. | |
have done well they've been like that. Once it was conquered the | :19:47. | :19:51. | |
Spanish sent in lawyers and surveyors and governors and started | :19:52. | :19:54. | |
running the economy properly and that seems to be what's happening to | :19:55. | :19:58. | |
a lot of internet companies, they were set up and made lots of money | :19:59. | :20:02. | |
in a Newmarket and they were successful. Then you see problems, | :20:03. | :20:10. | |
legal problems, accusations of sexual harassment, bribery | :20:11. | :20:12. | |
accusations, the company not managed particularly well, claims people | :20:13. | :20:16. | |
were unhappy working there. Profits are still doing nicely. No, they | :20:17. | :20:22. | |
don't really make profits, it's... Revenue shall I say. They're | :20:23. | :20:31. | |
powering in. They're bringing in this new guy from, he is known to be | :20:32. | :20:35. | |
an organiser, well respected manager. They want that money | :20:36. | :20:39. | |
flowing in, but all the reputational problems to go away and they reckon | :20:40. | :20:43. | |
he is going to do that. He has a lot on his to do list. US jobs, figures | :20:44. | :20:48. | |
are due out today. We have had some information from the States over the | :20:49. | :20:52. | |
last week about consumer spending and inflation. Tell us why the jobs | :20:53. | :21:00. | |
figures are important. These are the August figures, we are expecting | :21:01. | :21:03. | |
about 200,000 new jobs to have been created. We are looking for is that | :21:04. | :21:08. | |
out of higher wages, and what is the total? August is difficult because | :21:09. | :21:14. | |
it's a mid-sense summer holiday month. They're difficult to predict. | :21:15. | :21:18. | |
Why they're being closely watched is we know the Federal Reserve is | :21:19. | :21:23. | |
thinking about when it needs to increase interest rates again, how | :21:24. | :21:27. | |
much it needs to pull back on the money it's been pumping into the | :21:28. | :21:30. | |
economy. It will reach a tipping point eventually. If the figures are | :21:31. | :21:35. | |
good it will be another piece of the jigsaw that the Fed is looking at to | :21:36. | :21:40. | |
decide does it need to step in and start returning to normality, is the | :21:41. | :21:43. | |
economy growing strongly enough it can take away all the props and that | :21:44. | :21:48. | |
support it's been getting in over the last couple of years? Would | :21:49. | :21:52. | |
200,000 be enough? Yes. Thank you very much. | :21:53. | :21:58. | |
In a moment we will look at the business pages to find out what's | :21:59. | :22:01. | |
making headlines across the newspapers. First, let's get a | :22:02. | :22:05. | |
reminder of how to get in touch with us. | :22:06. | :22:07. | |
The business live page is where you can stay ahead with all the day's | :22:08. | :22:11. | |
breaking business news. We will keep you up to date with the latest | :22:12. | :22:20. | |
details. We want to hear from you too. Get involved on the BBC | :22:21. | :22:24. | |
business live web page. Business live on TV and online | :22:25. | :22:38. | |
whenever you need to know. At the start of the programme we | :22:39. | :22:44. | |
asked you about what was your worst travel journey. This story that | :22:45. | :22:47. | |
flights are being probed, two flights delayed for hours on a | :22:48. | :22:51. | |
runway in Canada. You can see that there. Passengers said they were | :22:52. | :22:57. | |
held in deplorable conditions. Dave says he flew into DC and from the | :22:58. | :23:02. | |
landing to the airport hotel took longer than his entire flight from | :23:03. | :23:07. | |
London. That's about eight hours. Lance says a nine-hour delay in | :23:08. | :23:11. | |
Gatwick for a flight to Bulgaria. Not a great start to the holiday. | :23:12. | :23:24. | |
And another detained in Mexico, not allowed to - back to Cuba. ... I am | :23:25. | :23:32. | |
confused. James Bevan is back here. Any travel delays for you? I think | :23:33. | :23:38. | |
the cynical aspect of air travel is when they overbook flights and it's | :23:39. | :23:46. | |
absolutely montrous, they still make people stay behind, there should be | :23:47. | :23:52. | |
fines on that. Also a focus about what's happening at Wells Fargo, a | :23:53. | :23:56. | |
big bank, set up fake accounts and not just a few dozen, a few hundred, | :23:57. | :24:01. | |
seems millions of fake accounts and the problem has got worse. Well, we | :24:02. | :24:04. | |
knew there was a substantial problem. What happened was that the | :24:05. | :24:10. | |
company were incentivising employees to cross-sell, but they were not | :24:11. | :24:14. | |
keeping an eye on what was going on and the employees were saying, we | :24:15. | :24:18. | |
have to do this, why don't we create accounts and pretend these people | :24:19. | :24:21. | |
are signed up and we will look clever and everyone will be happy. I | :24:22. | :24:25. | |
rather suspect the board went along with it because the | :24:26. | :24:35. | |
The company said we need to know exactly what went on and the sums | :24:36. | :24:41. | |
and the numbers are big are than previously had been expected. | :24:42. | :24:45. | |
Hands-free, cordless, how do you like your vacuum cleaner? Preferably | :24:46. | :24:50. | |
in the cupboard. I am not keen on that sort of thing. I like the idea | :24:51. | :24:56. | |
of the robotic cleaner: This story in lots of the papers, shops are | :24:57. | :25:02. | |
planning special offers on powerful vacuums after they're banned by the | :25:03. | :25:05. | |
EU. The interesting element to this story is that lots of shops are | :25:06. | :25:09. | |
putting prices up on these powerful vacuums because from today they're | :25:10. | :25:13. | |
banned from the EU. It's an interesting issue. When you say | :25:14. | :25:17. | |
they're banned, they're not going to produce or buy more but they can | :25:18. | :25:21. | |
sell off old stock. There is an expectation, people say I want one | :25:22. | :25:27. | |
of those powerful ones and they'll buy one while there is still stock | :25:28. | :25:34. | |
in the shop. This was a Brexit issue. Apparently UK won't | :25:35. | :25:42. | |
necessarily change the law. You can get more suck for your money. Good | :25:43. | :25:47. | |
to know. There will be more business news throughout the day on the BBC | :25:48. | :25:51. | |
live web page and on world business report. We will see you again next | :25:52. | :25:55. | |
week for more business news then. Goodbye. | :25:56. | :25:59. |