Browse content similar to 05/09/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Ben Thompson and Sally Bundock. | :00:00. | :00:08. | |
China calls for closer ties of member states to speed up | :00:09. | :00:13. | |
Live from London, that's our top story on Tuesday 5th September. | :00:14. | :00:34. | |
As the BRICS - that's Brazil, Russia, India, | :00:35. | :00:36. | |
China and South Africa - wrap up their summit, | :00:37. | :00:38. | |
we ask an expert whether these emerging giants are still relevant. | :00:39. | :00:43. | |
the agency is expelled from the UK trade body for the worst breach | :00:44. | :00:50. | |
And investors remain nervous amid expectations North Korea | :00:51. | :00:57. | |
will launch another missile - we'll look at what it | :00:58. | :00:59. | |
means as investors take money out of stocks. | :01:00. | :01:06. | |
And we'll be getting the inside track on a booming tech sector. | :01:07. | :01:09. | |
If you do anything online, from storing photos to buying stuff, | :01:10. | :01:12. | |
We speak to tech boss who explains why its big business. | :01:13. | :01:26. | |
We will speak to the former boss of eBay. | :01:27. | :01:30. | |
Are you worried are about storing precious stuff - | :01:31. | :01:33. | |
from cherished photos to personal data - on the cloud? | :01:34. | :01:38. | |
It's the final day of the summit involving leaders of Brazil, Russia, | :01:39. | :01:56. | |
India, China and South Africa - also known as the BRICS. | :01:57. | :02:03. | |
The group has been quick to condemn North Korea | :02:04. | :02:06. | |
for their nuclear missile tests, but discussions have also centred | :02:07. | :02:08. | |
While the White House is pushing a protectionist trade agenda, | :02:09. | :02:13. | |
President Xi Jinping wants to use this summit | :02:14. | :02:17. | |
to promote what he describes as "an open world economy". | :02:18. | :02:21. | |
Then there's the BRICS bank - a smaller, alternative | :02:22. | :02:24. | |
to the World Bank- used by governments to fund | :02:25. | :02:27. | |
It handed out one and a half billion dollars of loans last year and has | :02:28. | :02:36. | |
pledged 2.5 billion in funding for this year. | :02:37. | :02:38. | |
China itself has pledged 80 million dollars in funding for BRICS | :02:39. | :02:41. | |
projects, including an economic and technology cooperation plan. | :02:42. | :02:43. | |
But there are doubts about whether the BRICS summit | :02:44. | :02:45. | |
Beijing is busy with its own hugely ambitious Belt and Road initiative, | :02:46. | :02:55. | |
pledging $124 billion to expand trade links between | :02:56. | :03:01. | |
Craig Botham, emerging markets economist at Schroders, is with me. | :03:02. | :03:13. | |
Good morning. Ben gave us a little outline and some of those numbers | :03:14. | :03:23. | |
look pretty big. How influential are the BRICS organisation now? Good | :03:24. | :03:27. | |
question. The BRICS concept started largely as a marketing exercise. | :03:28. | :03:33. | |
There was a question about whether it made sense to lump those | :03:34. | :03:36. | |
disparate economies together. They have rarely delivered much of | :03:37. | :03:39. | |
substance, it is usually a statement and a pledge to welcome cooperation | :03:40. | :03:43. | |
and investment etc, probably the most tangible development was the | :03:44. | :03:50. | |
New Investment Bank, all the BRICS Bank. China's economy is tendril in | :03:51. | :03:58. | |
dollars, they pledged $100 billion per year for the road funding. For | :03:59. | :04:02. | |
the BRICS Stutz macro seems small, it looks like a platform to promote | :04:03. | :04:07. | |
a brand rather than getting real business done. | :04:08. | :04:12. | |
So why are they persevering with this? Sony years ago it was the | :04:13. | :04:15. | |
buzzword in business, we were talking about BRICS all the time | :04:16. | :04:19. | |
because each of the components of the BRICS was in a very strong | :04:20. | :04:23. | |
position, emerging markets doing incredibly well and seeing huge | :04:24. | :04:28. | |
growth, but for many, South Africa, Brazil, that is not the case? | :04:29. | :04:33. | |
Only China and India have really strong growth rates and India has | :04:34. | :04:36. | |
taken a bit of a hit in the last couple of quarters. For the other | :04:37. | :04:41. | |
BRICS it is handy to be associated with China and seen as a peer, if | :04:42. | :04:47. | |
you like. For China it is a way to show its global leadership at a time | :04:48. | :04:50. | |
when America seems to be taking a stumble. This has been completely | :04:51. | :04:58. | |
overshadowed by the situation with North Korea, despite china's efforts | :04:59. | :05:02. | |
to keep the BRICS summit on the agenda every single journalist is | :05:03. | :05:06. | |
grilling them about North Korea, particularly China? It is a bit | :05:07. | :05:10. | |
embarrassing for China, it is almost as if North Korea has done the | :05:11. | :05:13. | |
specifically to needle President Xi at a time when he is trying to | :05:14. | :05:18. | |
consolidate his power base. They are still very reluctant to push further | :05:19. | :05:22. | |
sanctions on North Korea. They are North Korea's major trade partner, | :05:23. | :05:27. | |
90% of North Korean trade. Serve anyone has a lever to pull against | :05:28. | :05:33. | |
them it is China, that they seem unwilling to do so. | :05:34. | :05:38. | |
The BRICS summit is kind of wrapping up. Some of the wires are talking | :05:39. | :05:43. | |
about comments from India's Foreign Secretary, who is talking about | :05:44. | :05:47. | |
North Korea to journalists now, basically saying India and China | :05:48. | :05:50. | |
both agree that more effort needs to be done to enhance mutual trust, | :05:51. | :05:55. | |
that is one of the latest lines. We will keep you across that. But I | :05:56. | :05:57. | |
were the main story. The public relations firm | :05:58. | :06:01. | |
Bell Pottinger has been expelled The Public Relations | :06:02. | :06:06. | |
and Communications Association says the company was unethical | :06:07. | :06:09. | |
and unprofessional and brought In an unprecedented move it's | :06:10. | :06:11. | |
expelled Bell Pottinger for 5 years. It follows the firm's media campaign | :06:12. | :06:15. | |
for the wealthy Gupta family of South Africa - | :06:16. | :06:17. | |
which has been heavily criticised for stirring up racial | :06:18. | :06:19. | |
tensions in the country. The Guptas have been | :06:20. | :06:27. | |
accused of benefiting financially from close links | :06:28. | :06:29. | |
to South Africa's President Zuma, and they hired Bell Pottinger | :06:30. | :06:31. | |
to change their image. To do this, Bell Pottinger began | :06:32. | :06:39. | |
a plan to raise awareness of "economic apartheid" | :06:40. | :06:42. | |
in South Africa. They set up a social media campaign, | :06:43. | :06:45. | |
and advised on political messaging and speeches that blamed | :06:46. | :06:52. | |
unemployment and inequality in South Now the UK trade body says that this | :06:53. | :06:54. | |
activity is the worst breach Earlier I spoke to the head | :06:55. | :06:59. | |
of the PRCA, Francis Ingham. We have expelled Bell Pottinger for | :07:00. | :07:14. | |
at least five years. That is unprecedented and what we have done | :07:15. | :07:18. | |
in the past. We did it because their breach of ethics, the work I have | :07:19. | :07:23. | |
seen, is the worst I have seen in my ten years as director general of the | :07:24. | :07:27. | |
PRCA. It is important to show the industry have standards, that is why | :07:28. | :07:31. | |
we expelled Bell Pottinger for at least five years. To James | :07:32. | :07:35. | |
Henderson's decision to carry the can was not enough? It was necessary | :07:36. | :07:41. | |
but not sufficient. The industry needs to make a stand and say that | :07:42. | :07:44. | |
stirring up racial tension and hatred in quite a tense country, | :07:45. | :07:50. | |
quite flattering democracy, in many ways, is unacceptable. That is what | :07:51. | :07:54. | |
we have done, we have expelled them from the PRCA. We have done nothing | :07:55. | :07:58. | |
of this magnitude before, we want to make it very clear that the industry | :07:59. | :08:02. | |
is ethical, have standards and wants to enforce them. | :08:03. | :08:05. | |
Bell Pottinger is very well-established, one of the world's | :08:06. | :08:20. | |
biggest, it has been around for a very long time, how can it get it so | :08:21. | :08:23. | |
wrong? Either they knew what was happening | :08:24. | :08:26. | |
and turned a blind eye, or their internal management processes were | :08:27. | :08:28. | |
so bad that a couple of road people could go off and do these things. | :08:29. | :08:31. | |
Either way it is not acceptable and that is why they are no longer a | :08:32. | :08:33. | |
member of the industry body. The cynical amongst us in journalism | :08:34. | :08:36. | |
were saying that this is how PR operates? It is not, that is why we | :08:37. | :08:39. | |
have expelled them. The vast majority of PRCA members are | :08:40. | :08:44. | |
ethical, professional, run their companies well and care about doing | :08:45. | :08:48. | |
the right thing. That is why we have expelled Bell Pottinger, they did | :08:49. | :08:52. | |
the wrong thing. That was France's Ingham, the | :08:53. | :08:53. | |
director-general of the PRCA. Let's take a look at some of | :08:54. | :08:56. | |
the other stories making the news. US aircraft maker Boeing has won | :08:57. | :08:59. | |
a long-running dispute The World Trade Organization has | :09:00. | :09:01. | |
reversed a ruling that Boeing received some state aid to help | :09:02. | :09:04. | |
build its newest aircraft, the 777. However, Airbus said "the game | :09:05. | :09:07. | |
is far from over" as other complaints over alleged aid | :09:08. | :09:10. | |
are still to be resolved. TalkTalk is exploring an exit | :09:11. | :09:15. | |
from its mobile operations, after opening talks with other | :09:16. | :09:19. | |
providers over the future TalkTalk been talking to rivals | :09:20. | :09:21. | |
Vodafone, O2 and Virgin Media, aiming to strike a deal | :09:22. | :09:25. | |
in the coming weeks. It's all part of a plan to overhaul | :09:26. | :09:27. | |
Talk Talk's business and focus on fixed-line broadband, | :09:28. | :09:30. | |
as it returns to its roots That was not TalkTalk, as you might | :09:31. | :09:33. | |
have noticed. First, Estonian start-up Taxify | :09:34. | :09:45. | |
to go head to head with Uber as it drives into London | :09:46. | :09:47. | |
with its taxi-hailing service today. Stephen, going on at Uber's | :09:48. | :10:04. | |
experience in China, I bet it is worried about the move in London? | :10:05. | :10:10. | |
At the moment people probably think in London Taxify, how can they | :10:11. | :10:16. | |
compete with Uber, Uber has such a massive presence there. I think | :10:17. | :10:22. | |
Taxify is in 25 cities, Uber is in 600. But now Taxify has teamed up | :10:23. | :10:28. | |
with another company. Around the world, in many countries, people | :10:29. | :10:32. | |
will never have heard of them. But they have in China. The company, | :10:33. | :10:41. | |
Didi, has 400 million users here. Didi took on and smashed Uber in | :10:42. | :10:47. | |
China, buying out Uber here. So Taxify has a very big back indeed. | :10:48. | :10:52. | |
To give you an idea of the presence in Didi, there is nobody else on the | :10:53. | :10:58. | |
scene here, it dominates. It has a virtual monopoly position in China | :10:59. | :11:02. | |
so its future is looking pretty rosy unless somebody comes along to | :11:03. | :11:06. | |
somehow challenge them. Thank you very much, Stephen in | :11:07. | :11:09. | |
Beijing. Let me run you through what the | :11:10. | :11:11. | |
markets are doing. Shares in Asia down | :11:12. | :11:13. | |
for the second day after North Korea's nuclear test - | :11:14. | :11:15. | |
with investors watching signs that the country could be preparing | :11:16. | :11:17. | |
another rocket launch, possibly an intercontinental | :11:18. | :11:19. | |
ballistic missile similar to the one But we saw bigger falls | :11:20. | :11:21. | |
on earlier missile tests, some suggesting that this just | :11:22. | :11:30. | |
becomes a new normal, rather than the unease we saw | :11:31. | :11:36. | |
when tensions first escalated yesterday didn't do much to boost | :11:37. | :11:40. | |
confidence either and today it's the turn of service data from Spain, | :11:41. | :11:48. | |
Italy, France and Germany but after a good start to the year | :11:49. | :11:54. | |
and some healthy July numbers we could also see some slight fall | :11:55. | :11:57. | |
off here too. More on that shortly, | :11:58. | :12:06. | |
but first Michelle has the details about what's ahead | :12:07. | :12:08. | |
on Wall Street today. When Wall Street re-opens, no doubt | :12:09. | :12:12. | |
refreshed after the holiday weekend, it will have some economic data | :12:13. | :12:14. | |
and some corporate The Department of Commerce releases | :12:15. | :12:16. | |
factory goods orders for July. Now, the report reflects demands | :12:17. | :12:23. | |
for goods from fridges to cars and even clothing, | :12:24. | :12:25. | |
giving investors a snapshot of the Many are predicting a drop in July | :12:26. | :12:28. | |
after climbing 3% in June. On the corporate front | :12:29. | :12:40. | |
Hewlett Packard Enterprise is expected to report | :12:41. | :12:41. | |
its third quarter results. Revenue at the tech giant could be | :12:42. | :12:44. | |
lower, a drop in sales of servers, networking and also at its data | :12:45. | :12:47. | |
storage equipment The company is led by Meg Whitman | :12:48. | :12:49. | |
who was one of the final three executives in the running to become | :12:50. | :12:56. | |
CEO of Uber. It is all happening. Michelle Fleury | :12:57. | :13:07. | |
is based in New York, of course. Jeremy Stretch is head of currency | :13:08. | :13:11. | |
strategy at CIBC World Markets. Good morning, nice to see you. We | :13:12. | :13:19. | |
had Labour Day in the States, we have had no steer from Wall Street | :13:20. | :13:25. | |
and markets are treading water a bit at the moment? Indeed, they are | :13:26. | :13:30. | |
oscillating a bit. We have the North Korean situation on the one side, | :13:31. | :13:33. | |
and on the other hand we are really seeing how markets are reacting to | :13:34. | :13:37. | |
the presumption about further interest rate moves in a number of | :13:38. | :13:41. | |
markets, a number of central banks making rate decisions this week. | :13:42. | :13:46. | |
There is the Federal reserve in the US, the central bank which dominates | :13:47. | :13:48. | |
everything else. Yesterday we had construction, | :13:49. | :13:54. | |
interesting in a sense that house-building was still doing OK | :13:55. | :13:58. | |
but it was commercial construction still a problem. In some respects | :13:59. | :14:03. | |
not surprising? It is not, but clearly there has | :14:04. | :14:08. | |
been a downdraught in construction sentiment in terms of institutional | :14:09. | :14:11. | |
commercial level, so the sector is back at the lowest level since last | :14:12. | :14:15. | |
August and businesses are certainly waiting for a degree of clarity on | :14:16. | :14:21. | |
the macroeconomic situation beyond just Brexit, it is certainly | :14:22. | :14:24. | |
bearable. That is causing the sector to | :14:25. | :14:30. | |
decelerate. The real kicker as far as sentiment in terms of the UK is | :14:31. | :14:33. | |
how the services sector plays out. It will be fascinating to see how | :14:34. | :14:37. | |
that stands up. And more European data coming out | :14:38. | :14:42. | |
this morning as well? How is the European economy doing? The Eurozone | :14:43. | :14:47. | |
economy is in a pretty good place, I suspect that will be reflected in | :14:48. | :14:50. | |
the language from the European Central Bank when they make their | :14:51. | :14:53. | |
own decision on Thursday, but Europe looks in a far better place. We're | :14:54. | :14:57. | |
not just seeing one economy or Germany leading the way but a much | :14:58. | :15:01. | |
broader economic expansion in the Eurozone which is quite | :15:02. | :15:05. | |
constructive. Strong growth across the piece, that is one of the | :15:06. | :15:08. | |
reasons why markets are looking to see what the European Central Bank | :15:09. | :15:17. | |
will do to start to pull back from its own monetary policy experiment | :15:18. | :15:20. | |
in terms of negative rates and its own quantitative easing. Helpful for | :15:21. | :15:23. | |
Angela Merkel heading to the polls? She looks to be heading to victory, | :15:24. | :15:27. | |
but it is not used who she wins bid to her coalition partner will be. -- | :15:28. | :15:33. | |
it is not just if she wins but who her coalition partner will be. | :15:34. | :15:34. | |
Still to come: It's all in the cloud - this growing tech services sector | :15:35. | :15:38. | |
We ask a tech pedigree boss - who used head up eBay - | :15:39. | :15:42. | |
He has his head in the clouds! Definitely. | :15:43. | :15:45. | |
You're with Business Live from BBC News. | :15:46. | :15:55. | |
I love a cup of tea. I have probably had six this morning. That's water | :15:56. | :16:02. | |
in there this morning. We're buying less tea | :16:03. | :16:04. | |
than we were a year ago, but spending more on speciality | :16:05. | :16:07. | |
teas. That's according to industry stats | :16:08. | :16:10. | |
seen by the BBC today. So are we falling out of love | :16:11. | :16:12. | |
with the humble cuppa? Sean Farrington is at one | :16:13. | :16:15. | |
tea manufacturer this So this machine turns out 2,000 | :16:16. | :16:17. | |
of these every minute and if you look at one of these big | :16:18. | :16:28. | |
reels, tea bag paper reel, it is not In a whole year, about | :16:29. | :16:32. | |
five billion tea bags are made in this factory, | :16:33. | :16:38. | |
but the bulk of it, just like the industry, | :16:39. | :16:41. | |
itself is original tea. That's what you can see | :16:42. | :16:43. | |
going into the boxes here, but on the whole, | :16:44. | :16:45. | |
that is what is becoming a little bit of a problem for the industry | :16:46. | :16:48. | |
because we're buying fewer back tea bit of a problem for the industry | :16:49. | :16:51. | |
because we're buying fewer black tea It's down about 5% on the year last | :16:52. | :16:54. | |
year which has meant Now, the way the industry has | :16:55. | :16:59. | |
adapted is by branching out because our tastes | :17:00. | :17:03. | |
are changing as well. So also in these figures out today, | :17:04. | :17:05. | |
we can see that sales have changed So you've got a lot more fruit teas, | :17:06. | :17:08. | |
a lot more herbal teas, we're spending more | :17:09. | :17:14. | |
on those and decaf teas which is why the likes of Taylor's | :17:15. | :17:20. | |
will be spending quite a bit of money upgrading this part | :17:21. | :17:23. | |
of the plant as well because they see the value | :17:24. | :17:25. | |
in increasing stuff like this. So it will be very interesting | :17:26. | :17:28. | |
how flavours change Will black tea be | :17:29. | :17:30. | |
able to hold its own? If there is one thing I've | :17:31. | :17:33. | |
learnt over this morning, is that however you make your black | :17:34. | :17:37. | |
tea, I have been told here, You put the water in first and put | :17:38. | :17:41. | |
the milk in afterwards. We were talking to Sean earlier and | :17:42. | :18:03. | |
he is getting a lot of top tea tips! Aveva to mench with Schneider | :18:04. | :18:10. | |
Electric. If you wonder what it does. It is this sort of stuff. It | :18:11. | :18:17. | |
makes 3D diagrams and processors in factories and warehouses. You don't | :18:18. | :18:21. | |
have to draw it by hand. Full details are on the BBC website. | :18:22. | :18:32. | |
You're watching Business Live. Our top story: | :18:33. | :18:37. | |
Rebuilding the bricks nations. China calls for closer ties of member | :18:38. | :18:42. | |
states to speed up economic development. | :18:43. | :18:45. | |
We will keep you across the developments as that bricks summit | :18:46. | :18:49. | |
wraps up and any headlines that come out of that, but let's talk about | :18:50. | :18:51. | |
cloud computing. Photos, videos, documents - | :18:52. | :18:53. | |
that you store on the internet Well, it's a booming market and it's | :18:54. | :18:57. | |
not just for storage. More and more IT services, | :18:58. | :19:04. | |
apps and software are stored New figures show the sector | :19:05. | :19:07. | |
is growing at about 18% a year and will be worth more | :19:08. | :19:14. | |
than $380 billion by 2020. Service Now is one of the world's | :19:15. | :19:21. | |
top ten cloud providers according to Forbes - | :19:22. | :19:23. | |
and it says it's on track to reach It's boss is John Donahoe - | :19:24. | :19:26. | |
who used to be eBay's chief executive, and is also | :19:27. | :19:30. | |
the chair at PayPal. You have sent in some questions. | :19:31. | :19:40. | |
Good morning. Welcome to the programme. Nice to be here. So John, | :19:41. | :19:47. | |
you're now in charge of Service Now. Just explain exactly what it does. | :19:48. | :19:53. | |
Service Now does at work what many of the consumer applications do at | :19:54. | :19:57. | |
home which is simplify our lives and make things easier, easier to work | :19:58. | :20:02. | |
and enhance your quality work. So how does it do that? Take a simple | :20:03. | :20:07. | |
example. One of the most frustrating things that can happen at work is | :20:08. | :20:11. | |
that you can't get into your e-mail. Right. You're on the road. You're at | :20:12. | :20:15. | |
home. You want to get into your e-mail. So you need to reset your | :20:16. | :20:20. | |
password. What would have been required, you would have to call | :20:21. | :20:24. | |
someone from IT and hope to get them on the fond and be put on hold and | :20:25. | :20:27. | |
wait for someone to come back to you. Now using Service Now you can | :20:28. | :20:33. | |
get your password reset. Simply when you need it to be done quickly and | :20:34. | :20:39. | |
easily. So it is simplifying what was complicated so you can have a | :20:40. | :20:44. | |
much better experience. Is this a case of consumer technology | :20:45. | :20:47. | |
overtaking what corporate technology can do? It strikes me in an | :20:48. | :20:51. | |
organisation like the BBC you painted that picture, if I want to | :20:52. | :20:57. | |
change my password, it takes me forever, I have to ring various | :20:58. | :21:01. | |
people and prove who I am. If I want to do it on my phone, it is easy. | :21:02. | :21:09. | |
They have to make sure that people aren't clicking on phishing links | :21:10. | :21:12. | |
and open to fraud and hacking and in an organisation like the BBC, that's | :21:13. | :21:18. | |
a prime target? But it is using the same cloud based technology. PayPal | :21:19. | :21:23. | |
is your personal information. Cloud technology has enabled you to pay, | :21:24. | :21:26. | |
do things like change your password if you need to safely on your mobile | :21:27. | :21:31. | |
phone. The same principles can be applied at work and until now you | :21:32. | :21:35. | |
didn't have software that enabled you to do that. Cloud based | :21:36. | :21:39. | |
platforms like Service Now enable the same kind of user experiences at | :21:40. | :21:43. | |
work as you'd get at home. Why aren't more businesses taking it on? | :21:44. | :21:47. | |
Is it a cost issue? Or a legacy issue? That's what is driving | :21:48. | :21:53. | |
Service Now's growth. That's why it is the fastest growing enterprise | :21:54. | :21:56. | |
company in the world over $1 billion. Companies are taking | :21:57. | :22:00. | |
advantage of cloud based platforms like Service Now to transform how | :22:01. | :22:04. | |
you operate at work starting with IT and HR and security and other areas. | :22:05. | :22:09. | |
Now, you moved from eBay to Service Now, is that right? Yes. You were | :22:10. | :22:20. | |
global Chief Executive, bid you take over from Meg Witman. EBay is a | :22:21. | :22:24. | |
company we have heard of. Service Now not. Why would you move from | :22:25. | :22:29. | |
eBay to Service Now? What's your thinking? I had a wonderful decade | :22:30. | :22:40. | |
at eBay. I took a year off and surveyed the industry, technology | :22:41. | :22:43. | |
landscape and I said where is the action going to be in the next five | :22:44. | :22:49. | |
to ten years. In the next five to ten years, it is applying technology | :22:50. | :22:53. | |
to our lives at work as we've been talking about. Service Now is | :22:54. | :22:56. | |
positioned to lead that transformation, to lead that | :22:57. | :23:02. | |
revolution. How do you feel about starting something brand-new in | :23:03. | :23:06. | |
Silicon Valley, having had a long career and a very, you know, well | :23:07. | :23:11. | |
established career, there is so many new companies coming up in Silicon | :23:12. | :23:15. | |
Valley run by guys in their 20s and 30s and women in their 3020s and | :23:16. | :23:21. | |
30s, do you ever feel, you know, I'm trying to think of the right word, | :23:22. | :23:26. | |
do you feel insecure about that? I doubt you do, but do you know what I | :23:27. | :23:31. | |
mean? Silicon Valley and technology are exciting innovation is happening | :23:32. | :23:34. | |
all the time. My particular focus however is in those technologies | :23:35. | :23:38. | |
that begin to break through. Service Now is one of the very, very few | :23:39. | :23:44. | |
enterprise software companies that have broken through $1 billion and | :23:45. | :23:48. | |
will reach $2 billion and the opportunity is enormous to take that | :23:49. | :23:52. | |
and have Service Now impact our lives at work, the same way eBay or | :23:53. | :23:58. | |
PayPal or Amazon or Google impacted our lives at home and that | :23:59. | :24:01. | |
opportunity exists and Service Now is one of the few enterprise | :24:02. | :24:05. | |
software companies in a world position to really capitalise on | :24:06. | :24:09. | |
that. All right. We will watch with great interest. Thank you John for | :24:10. | :24:12. | |
coming in. Nice to see you, John, thank you very much. | :24:13. | :24:21. | |
Here's a quick reminder of how to get in touch with us. | :24:22. | :24:24. | |
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You have been sending you your thoughts. | :24:55. | :24:58. | |
The BBC's Dominic O'Connell is with us. | :24:59. | :25:05. | |
A viewer says, "There is no such thing as a cloud, it is someone | :25:06. | :25:16. | |
else's computer." The really big player in the cloud, not many people | :25:17. | :25:22. | |
know it, is Amazon. Amazon global services division, it is its biggest | :25:23. | :25:27. | |
earner. It is big in the UK. It runs the big cloud operations and not | :25:28. | :25:33. | |
many people know that. Did you speak to Francis Ingham this morning? I | :25:34. | :25:37. | |
haven't. The BBC have been speaking to him at length. He is the head of | :25:38. | :25:41. | |
the trade body... He was on our programme earlier. I found that | :25:42. | :25:45. | |
having read the ruling, this is interesting, normally you expect a | :25:46. | :25:49. | |
ruling from what Dubs the industry regulator, it is just a trade | :25:50. | :25:52. | |
association, it should have evidence in it, but a high-level thing. It | :25:53. | :25:59. | |
says they infringe this guideline and that guideline. No smoking guns | :26:00. | :26:04. | |
in there. Thanks, Dominic. Welds you very soon. Bye-bye. | :26:05. | :26:09. | |
Good morning. We have got heavy rainfall this morning across | :26:10. | :26:14. | |
north-west England and western Wales. | :26:15. | :26:16. |