0:00:05 > 0:00:12This is Business Live from BBC News with Alice Baxter and Sally Bundock.
0:00:12 > 0:00:17We are leading with the attack in New York where authorities are
0:00:17 > 0:00:21describing it as an act of terror. Eight people have been killed and 11
0:00:21 > 0:00:25injured. Live from London, we will be bringing you the latest business
0:00:25 > 0:00:32news as usual.
0:00:32 > 0:00:37It's Wednesday, 1st November.
0:00:44 > 0:00:49An unusual programme today. We are bringing you the latest on the
0:00:49 > 0:00:53events in New York.
0:00:53 > 0:00:56At least eight people have been killed in New York -
0:00:56 > 0:00:59and 11 people injured - by a man who drove a pick-up truck
0:00:59 > 0:01:05into pedestrians and cyclists before then crashing into a school bus.
0:01:05 > 0:01:07Five of those killed were from Argentina,
0:01:07 > 0:01:09one was from Belgium.
0:01:09 > 0:01:13The attacker got out of the truck carrying
0:01:13 > 0:01:17two imitation guns.
0:01:17 > 0:01:21He was shot by police and arrested.
0:01:21 > 0:01:25Police sources have named him as Sayfullo Saipov, aged 29m
0:01:25 > 0:01:27Police sources have named him as Sayfullo Saipov, aged 29,
0:01:27 > 0:01:29reports say he's from Uzbekistan and arrived in the
0:01:29 > 0:01:30United States in 2010.
0:01:30 > 0:01:32Neda Tawfik is in New York.
0:01:32 > 0:01:38This was the scene of the deadliest attack on New York since 9/11.
0:01:38 > 0:01:42Cyclists enjoying a beautiful autumn day, struck down by a white pick-up
0:01:42 > 0:01:44truck travelling at high-speed, leaving bodies and bicycles
0:01:44 > 0:01:49scattered in its wake.
0:01:49 > 0:01:52The driver's journey ends only when he smashes into a school bus
0:01:52 > 0:01:55and passers-by had to call for help for some of the injured.
0:01:55 > 0:02:04He can be seen here leaving the vehicle and brandishing a paint
0:02:04 > 0:02:06ball and pellet gun before being shot by police.
0:02:06 > 0:02:08Eyewitnesses describe the panicked moments when they realise
0:02:08 > 0:02:09something was terribly wrong.
0:02:09 > 0:02:12He was running around like with a gun and so police came
0:02:12 > 0:02:15out and then people called the cops and so they were coming
0:02:15 > 0:02:18in and the guy fired a couple of shots before and then
0:02:18 > 0:02:21there was like a shoot-out scene like the police and the guy
0:02:21 > 0:02:23and that's when they started to close down everything
0:02:23 > 0:02:24and we had to go.
0:02:24 > 0:02:26He was screaming in the street.
0:02:26 > 0:02:29He looked frustrated, panicked and confused.
0:02:29 > 0:02:31From there, a whole bunch of customers started running
0:02:31 > 0:02:34past me, a whole bunch of people came running past my way
0:02:34 > 0:02:37yelling, "He's got a gun. He's got a gun."
0:02:37 > 0:02:39The full force of New York's emergency responders
0:02:39 > 0:02:44swarmed the area.
0:02:44 > 0:02:48Be advised, we have multiple people on the ground.
0:02:48 > 0:02:51There is multiple people on the ground.
0:02:51 > 0:02:57We need buses.
0:02:57 > 0:02:59Authorities believe this was an act of terror aimed
0:02:59 > 0:03:01at innocent civilians.
0:03:01 > 0:03:03They say a note in the suspect's vehicle referenced
0:03:03 > 0:03:05the so-called Islamic State.
0:03:05 > 0:03:15It's a very painful day in our city.
0:03:17 > 0:03:19A horrible tragedy on Westside.
0:03:19 > 0:03:22Let me be clear that based on the information that we have
0:03:22 > 0:03:24at this moment this was an act of terror and a particularly
0:03:24 > 0:03:26cowardly act of terror.
0:03:26 > 0:03:27The suspect has been identified as 29-year-old
0:03:27 > 0:03:30Sayfullo Saipov who came to the United States in 2010.
0:03:30 > 0:03:32He's said to have travelled to the East Coast from Florida
0:03:32 > 0:03:36and to have worked for the company Uber as a driver.
0:03:36 > 0:03:39President Trump has been briefed and in a series of tweets
0:03:39 > 0:03:41he promised to crackdown further on those entering the country.
0:03:41 > 0:03:44Every day thousands of New Yorkers make their way down this bike path
0:03:44 > 0:03:48on their way to work and school and just blocks from the site
0:03:48 > 0:03:51of the World Trade Center, this attack in Lower Manhattan
0:03:51 > 0:03:55is a stark reminder that the city remains a target.
0:03:55 > 0:03:58This attack happened on one of the most festive
0:03:58 > 0:04:01days in the Big Apple, just as children prepare to go trick
0:04:01 > 0:04:04or treating and New Yorkers carried on with that tradition as normal
0:04:04 > 0:04:11with the annual Hallowe'en parade in a show of defiance and resilience.
0:04:11 > 0:04:17Kenneth Craig is a correspondent from the American news network CBS.
0:04:17 > 0:04:25He explains what more we know about the attacker.
0:04:25 > 0:04:30He is a 29-year-old, Sayfullo Saipov, and he has a Florida licence
0:04:30 > 0:04:36plate and his last known residence is in Tampa Florida. As far as we
0:04:36 > 0:04:39know right now according to authorities they believe it was a
0:04:39 > 0:04:43lone wolf attack. They do not believe that this was part of some
0:04:43 > 0:04:50larger terror plot. He came to the United States some seven years ago
0:04:50 > 0:04:53in 2010 from Uzbekistan, during the course of the investigation today,
0:04:53 > 0:04:59after this all came to an end, authorities also according to one
0:04:59 > 0:05:05federal law enforcement source found a note inside that rented truck that
0:05:05 > 0:05:11had some sort of reference to Isis. Beyond that, I can tell you he had a
0:05:11 > 0:05:18commercial driver's licence and at one point was a driver for the ride
0:05:18 > 0:05:22sharing service, Uber which has since banned him from being able to
0:05:22 > 0:05:27drive for Uber, but they said they did a full background check when
0:05:27 > 0:05:30they hired up and nothing came up, but at this point investigators have
0:05:30 > 0:05:35a lot of digging to do, talking to people in his circles and talking to
0:05:35 > 0:05:40people he knew and going through his cellphone records and any online
0:05:40 > 0:05:44correspondents to piece this together to figure out if he was
0:05:44 > 0:05:49working in tandem with any groups or larger organisations and how long he
0:05:49 > 0:05:58might have been plotting at attack here in New York City.
0:05:58 > 0:06:04That was Kenneth Craig. He is a correspondent with CBS.
0:06:04 > 0:06:08On the website, there is details of the five friends from Argentina who
0:06:08 > 0:06:12were killed in New York. They are among the eight who have died in
0:06:12 > 0:06:17this attack. They were there for an anniversary get together as a group
0:06:17 > 0:06:21of friends. And also there is footage showing the New York attack
0:06:21 > 0:06:25suspect. So take a look, if you want more detail, of course, this is
0:06:25 > 0:06:31updating all the time on the very latest information on that story.
0:06:32 > 0:06:35The world's most important central bank is set to give us its latest
0:06:35 > 0:06:40decision on interest rates later.
0:06:40 > 0:06:43The US Federal Reserve is unlikely to change rates, but investors
0:06:43 > 0:06:46are looking at what it says about the state of the
0:06:46 > 0:06:55world's biggest economy.
0:06:55 > 0:07:02Now, the main federal funds rate is near record
0:07:02 > 0:07:03lows at just 1% to 1.25%.
0:07:03 > 0:07:06Any move will be felt in economies around the world.
0:07:06 > 0:07:08The healthy of the wider US economy seems robust.
0:07:08 > 0:07:11On Friday we learnt it grew by a more than expected 3%
0:07:11 > 0:07:13between July and September which means that there's more capacity
0:07:13 > 0:07:15to absorb a rate rise.
0:07:15 > 0:07:19But hanging around in the background is the record high US national
0:07:19 > 0:07:25debt of $20.45 trillion.
0:07:25 > 0:07:29Jeremy Cook, chief economist at World First, is here.
0:07:30 > 0:07:35Good morning.So, it's quite interesting actually because we had
0:07:35 > 0:07:38markets in Asia today having such a strong session. It's almost a rally
0:07:38 > 0:07:43ahead of what's going on. We've got the issue of President Trump's
0:07:43 > 0:07:48decision on who will fill Janet Yelland's shoes, assuming she
0:07:48 > 0:07:52doesn't. We will talk about today's decision on rates and also the
0:07:52 > 0:07:56clawing back of quantitative easing. Yes, no change expected in rates
0:07:56 > 0:08:00today. You would have to expect that's going to happen in December.
0:08:00 > 0:08:05There is a press conference that happens with it. It allows the
0:08:05 > 0:08:07Central Bank to meaningfully, the Central Bank policy is about
0:08:07 > 0:08:11communications at the moment. So, meaningfully be able to communicate
0:08:11 > 0:08:15what it means, what it's doing and why it's doing it, not just to
0:08:15 > 0:08:21investors and analysts like myself, but businesses and consumers.And
0:08:21 > 0:08:24the person in charge, ie Janet Yelland had a critical role, hasn't
0:08:24 > 0:08:29she?Yes.In the last few years because her, she and the team at the
0:08:29 > 0:08:34Fed had to get the US economy off this massive, massive stimulus
0:08:34 > 0:08:39programme. I mean, not seen before in history?A lot of people would
0:08:39 > 0:08:43say Angela Merkel is the most important woman in the world, but
0:08:43 > 0:08:46Janet Yelland has been over the course of the past couple of years.
0:08:46 > 0:08:52She carried on the stimulus that Ben Bean aningy put into place and they
0:08:52 > 0:08:54are tapering that off and starting to reduce the quantitative easing
0:08:54 > 0:09:00and starting to bring the US economy back to an even monetary policy keel
0:09:00 > 0:09:07as be fitting the GDP numbers we saw on Friday.Wide expectation that
0:09:07 > 0:09:10President Trump is going to pick the successor to Janet Yelland tomorrow.
0:09:10 > 0:09:14Talk us through the nominees on the table.There is three main runners
0:09:14 > 0:09:24at the moment. The lead is a chap called Jerome Powell who has been a
0:09:24 > 0:09:28member of the Federal Reserve before and voted on the hawkish side of
0:09:28 > 0:09:32things. He favoured higher interest rates. He seems to be the
0:09:32 > 0:09:35frontrunner, odds-on winner for tomorrow.And if he were to be the
0:09:35 > 0:09:39nominee, would markets breathe a sigh of relief. He is seen as the
0:09:39 > 0:09:43continuity candidate?Yes, to be honest, regardless of who takes
0:09:43 > 0:09:48over, this will be Janet Yelland's Fed. The fact that a new chair comes
0:09:48 > 0:09:52in doesn't change the thinking of a Central Bank. There is a lot of
0:09:52 > 0:09:56institutional memory that will be carried on. The wild card is a guy
0:09:56 > 0:10:04called John Taylor. He is a professor of economics. He voted on
0:10:04 > 0:10:06a rule, depending on inflation and unemployment and growth where
0:10:06 > 0:10:12interest rates should be. In the UK, his role, said that in the UK
0:10:12 > 0:10:19interest rates should be at 6.5%. You have got Kevin Walsh, he is even
0:10:19 > 0:10:23more of a wilder card?He was one of the opponents to quantitative easing
0:10:23 > 0:10:27in the deep, dark depths of the global financial crisis and of
0:10:27 > 0:10:31course, Janet Yelland could keep her job.She could.Donald Trump likes
0:10:31 > 0:10:35low rates. He is a real estate guy. They like low interest rates because
0:10:35 > 0:10:40everything is cheaper to buy.On rates, looking ahead to next month,
0:10:40 > 0:10:44also coming out of the States, we are expected a rate decision?We are
0:10:44 > 0:10:49expecting a hike in interest rates. The inflation picture isn't great in
0:10:49 > 0:10:54the yoits, but it is more stable than people were predicting, we are
0:10:54 > 0:10:58looking at pay pressure to start coming through in the United States.
0:10:58 > 0:11:04That be fits an interest rate rise and this is the Federal Reserve
0:11:04 > 0:11:08continuing its policy of normalising everything out of the global
0:11:08 > 0:11:13financial crisis.Jeremy, thank you. Jeremy will be back. He has some
0:11:13 > 0:11:18interesting stories to unpack. Absolutely, stick around for that.
0:11:18 > 0:11:21Let's take a look at some of the other stories making the news.
0:11:21 > 0:11:24Malaysian police are investigating an attempt to sell data from more
0:11:24 > 0:11:25than 46 million mobile phone customers following
0:11:25 > 0:11:27a major security breach.
0:11:27 > 0:11:29A local technology website says it received a tip-off that someone
0:11:29 > 0:11:31was trying to sell huge databases of personal information
0:11:31 > 0:11:38on its forums.
0:11:38 > 0:11:41Sony shares hit a nine-year high after tipping record earnings
0:11:41 > 0:11:46as restructuring efforts pay off.
0:11:46 > 0:11:51The Japanese electronics giant said strong smartphone parts and gaming
0:11:51 > 0:11:53sales were among the factors likely to boost its full-year result,
0:11:53 > 0:11:55raising its guidance 26% from previous estimates
0:11:55 > 0:11:56in a statement late Tuesday.
0:11:56 > 0:12:03Shares surged more than 11% in Tokyo trading.
0:12:03 > 0:12:05Tech executives have finished their first day
0:12:05 > 0:12:07of testimony in front of the US Congress.
0:12:07 > 0:12:13Representatives from Facebook, Google and Twitter have faced
0:12:13 > 0:12:16questions from policymakers about Russian interference in the US
0:12:16 > 0:12:17presidential election.
0:12:17 > 0:12:25Our North America technology reporter, Dave Lee, has been
0:12:25 > 0:12:29following the story from Washington.
0:12:29 > 0:12:33The first committee hearing has concluded.
0:12:33 > 0:12:36It was a fairly comfortable ride, I must say, for the three
0:12:36 > 0:12:38technology companies, Facebook, Google and Twitter.
0:12:38 > 0:12:40They put on something of an united front.
0:12:40 > 0:12:46They wanted to show the senators that they were capable, they say,
0:12:46 > 0:12:52of dealing with this probelem on their own.
0:12:52 > 0:12:53The problem is enormous.
0:12:53 > 0:12:56Facebook said as many as 126 million users may have been reached
0:12:56 > 0:13:03by Russian propaganda.
0:13:03 > 0:13:06Google said it could have been as many as 288 million
0:13:06 > 0:13:08on its platform and Google said it has widespread problems
0:13:09 > 0:13:10on its network as well.
0:13:10 > 0:13:12However, they say they will enforce stricter policies, more transparent
0:13:12 > 0:13:14policies about advertising and that will stop this problem from
0:13:15 > 0:13:16occurring in the future election.
0:13:16 > 0:13:19On the other hand, senators do not seem so convinced of that.
0:13:19 > 0:13:21Many of them are pushing for new regulation that would make
0:13:21 > 0:13:23the entire ad process and many of the algorithms
0:13:23 > 0:13:26on these networks a lot more transparent and public.
0:13:26 > 0:13:31And of course, the companies don't want that.
0:13:32 > 0:13:35Now let's turn to Hong Kong, where the city's stock exchange took
0:13:35 > 0:13:39a knock this week after mining giant Glencore and Luxury brand Coach
0:13:39 > 0:13:42said they are pulling their listings from its bourse.
0:13:42 > 0:13:45Ashleigh Nghiem is in Singapore.
0:13:45 > 0:13:51What's going on here?Well, both companies have said that they are
0:13:51 > 0:13:54withdrawing their secondary listings in Hong Kong. That they want to
0:13:54 > 0:13:58seize trading in Asia because there isn't enough interest here. It's not
0:13:58 > 0:14:03great timing for Hong Kong as the exchange has been struggling to
0:14:03 > 0:14:06attract international companies. It is even set to lose its place at the
0:14:06 > 0:14:11top of the global table for IPOs this year to the New York Stock
0:14:11 > 0:14:15Exchange because of a lack of blost buster new listings. They have lost
0:14:15 > 0:14:20so much business it led to a 77% slump in the amount of money they
0:14:20 > 0:14:24have made from share sale listings in the third quarter. Unless they
0:14:24 > 0:14:29manage to attract more IPOs before the end of the year it could fall
0:14:29 > 0:14:33into third place behind Shanghai. In spite of this, it was a good day for
0:14:33 > 0:14:37traders in Hong Kong this Wednesday. With the Hang Seng index closing 1
0:14:37 > 0:14:40Mers higher.Thank you very much.
0:14:40 > 0:14:44Bit of a rally in Asia where shares scaled a 10-year high on Wednesday
0:14:44 > 0:14:47on the back of solid economic growth globally.
0:14:47 > 0:14:51Tokyo's Nikkei closed at a fresh 21-year high on Wednesday,
0:14:51 > 0:14:54as electronics giant Sony led the way with an 11%
0:14:54 > 0:14:59gain after forecasting record annual profits.
0:14:59 > 0:15:03Also in focus for traders - oil prices extended a bull run
0:15:03 > 0:15:05on hopes that major producers will maintain their output cuts.
0:15:05 > 0:15:08And events over in the States - investors are keeping a close eye
0:15:08 > 0:15:11on the progress of a US tax-cut plan being developed by President Donald
0:15:11 > 0:15:15Trump and fellow Republicans and on Trump's announcement
0:15:15 > 0:15:19of the next head of the Federal Reserve.
0:15:19 > 0:15:23The White House said he'll reveal his Fed pick on Thursday.
0:15:23 > 0:15:27Meanwhile here in Europe - shares are on the rise.
0:15:27 > 0:15:30Again the main focus is events in Washington but also in London -
0:15:30 > 0:15:33it's nearly decision time for the Bank of England -
0:15:33 > 0:15:35because on Thursday policymakers will reveal their interest rate
0:15:35 > 0:15:40decisions.
0:15:40 > 0:15:47And Samira has the details about what's ahead on Wall Street Today.
0:15:48 > 0:15:55In earnings news, Facebook will be reporting. There is an expected rise
0:15:55 > 0:16:00in profit and revenue driven by its fast-growing mobile advertising
0:16:00 > 0:16:07business. Facebook is looking for a new streams of revenue. Also
0:16:07 > 0:16:13reporting earnings on Wednesday, electric car maker Tesla. Higher
0:16:13 > 0:16:17sales of luxury vehicles will give sales a boost, but Tesla continues
0:16:17 > 0:16:27to burn cash as production costs for its latest model ramp up.
0:16:27 > 0:16:28Still to come:
0:16:28 > 0:16:29An airplane audience.
0:16:29 > 0:16:34Do you ever read the in-flight magazine when you're on a plane?
0:16:34 > 0:16:38We'll tell you where they come from and why it's big business.
0:16:38 > 0:16:43You're with Business Live from BBC News.
0:16:53 > 0:16:59Simon Jack has been talking to the head of Mexico's state oil firm. He
0:16:59 > 0:17:04told him that if the current trade friction between the US and Mexico
0:17:04 > 0:17:07were to spread to the energy market, both countries would suffer.
0:17:07 > 0:17:15Here is Simon Jack.We buy a lot of gas from the United States. I am a
0:17:15 > 0:17:21firm believer that trade is good for two people. It is not win - lose. We
0:17:21 > 0:17:27both win. Ayes you must admit the tone of the relationship has
0:17:27 > 0:17:34changed. The idea of building a wall, if not a physical one, a trade
0:17:34 > 0:17:38one, Nafta is creaking at the seams. Is Donald Trump's bark worse than
0:17:38 > 0:17:48his bite? We export about 800,000 barrels of oil a day. Mostly to the
0:17:48 > 0:17:54United States. We import 500,000 barrels of gasoline and diesel.
0:17:54 > 0:18:02Mostly from the United States. We import 2 billion cubic feet of
0:18:02 > 0:18:07natural gas, mostly from the United States. And that is advantageous to
0:18:07 > 0:18:12both of us. If somebody wants to get in the middle of this trade, there
0:18:12 > 0:18:16are going to be lots of people who will be unhappy about this trade.
0:18:16 > 0:18:22There are lots of jobs associated on both sides of the border with this.
0:18:22 > 0:18:28I think so far energy was not part of Nafta. And so far there have been
0:18:28 > 0:18:36no talks about hindering any of this very advantageous trade between the
0:18:36 > 0:18:43two countries. But we will see. And if it does, people will complain.
0:18:43 > 0:18:51The US president, is he a friend or a file?Let me not answer that! For
0:18:51 > 0:18:57us it has been a difficult year, for Mexico. But we will see.In what way
0:18:57 > 0:19:05has been difficult?There has been a lot of noise around the relationship
0:19:05 > 0:19:13between Mexico and the United States. This has put us in an
0:19:13 > 0:19:17interesting situation, a difficult situation sometimes, and an
0:19:17 > 0:19:21interesting situation sometimes. That was the head of the Mexican
0:19:21 > 0:19:24state oil firm. Much more business and available on the website.
0:19:35 > 0:19:39Our top story today. We are keeping you up to date with what has been
0:19:39 > 0:19:45going on in New York. A man is in police custody, in hospital, after
0:19:45 > 0:19:50he was shot following the killing of eight people, 11 seriously injured.
0:19:50 > 0:19:53Also receiving treatment in hospitals in New York.
0:19:53 > 0:19:57It happened when a truck drove into pedestrians and cyclists in the
0:19:57 > 0:20:00city. Police are treating the situation as a terror attack. Much
0:20:00 > 0:20:05more on our website. We will have more at the top of the
0:20:05 > 0:20:12hour. Let's quickly show you the financial markets. They are all
0:20:12 > 0:20:18headed high. This is following a very robust, strong session in Asia
0:20:18 > 0:20:26today. Lots of earning stories and so for the news has been pretty good
0:20:26 > 0:20:26from companies.
0:20:26 > 0:20:28Now, we've all been there - waiting on a plane,
0:20:28 > 0:20:31maybe for it to take off, maybe mid-flight.
0:20:31 > 0:20:35So we pick up the magazine in the seat pocket in front of us.
0:20:35 > 0:20:39Chances are it was published by a company called Ink.
0:20:39 > 0:20:42It's the leader in travel media, creating 27 inflight magazines in 10
0:20:42 > 0:20:45different languages.
0:20:45 > 0:20:48You'll find its publications on the globe's biggest
0:20:48 > 0:20:52international airlines, including American Airlines,
0:20:52 > 0:20:54Easyjet, Etihad to name a few.
0:20:54 > 0:20:59These pages reach 802 million passengers a year on behalf of over
0:20:59 > 0:21:0110,000 advertisers and brands.
0:21:01 > 0:21:04And that's important, because it's one of the few times when ads can
0:21:04 > 0:21:10reach their audience with little distraction.
0:21:10 > 0:21:16Michael Keating is co-Chief Executive of Ink.
0:21:16 > 0:21:23Welcome to the programme.Good morning.With my three little boys I
0:21:23 > 0:21:27have every distraction on the planet trying to stop them from kicking the
0:21:27 > 0:21:31chair in the front. That is the usual job I have on my hands and I
0:21:31 > 0:21:35never get to read the magazine.If you get them settled you can read
0:21:35 > 0:21:41the magazine. You started in the television industry, very much what
0:21:41 > 0:21:47we have been doing this morning on the BBC.Somehow you morphed into
0:21:47 > 0:21:53this successful word of in-flight magazines.I was working from London
0:21:53 > 0:21:59tonight and I was doing a story. I was in Beirut just after the civil
0:21:59 > 0:22:04war. It was a story about how Londoners were returning to Beirut
0:22:04 > 0:22:09to take package holidays, which was quite implausible at the time. I met
0:22:09 > 0:22:14a man who was starting an airline. As good business stories should be,
0:22:14 > 0:22:21it started in a bar Beirut. That was a start-up airline. It was a one
0:22:21 > 0:22:29aircraft airline. The success story is that we are now publishing for
0:22:29 > 0:22:34the largest airlines in the world, including America, to carry 220
0:22:34 > 0:22:38million passengers a year.When you talk about in-flight publishing,
0:22:38 > 0:22:43you're just -- much more than the magazines in front of us.Correct.
0:22:43 > 0:22:49We started in print but now we monetise a lot of the digital touch
0:22:49 > 0:22:53points with an airline. This year we won the contract for virgin
0:22:53 > 0:22:57Atlantic. We will be doing on-board opportunities, monetising the
0:22:57 > 0:23:04languages. It could be we have a deal with Diageo, selling in-flight
0:23:04 > 0:23:10entertainment offering, producing video. We haven't an ad serving
0:23:10 > 0:23:15platform were reproduced the media on the boarding passes, for example.
0:23:15 > 0:23:24That is the easy Jet boarding pass, which is a real boarding pass. We
0:23:24 > 0:23:29produce 12 million a year.That is highly targeted. It sounds to me
0:23:29 > 0:23:34like a win, win. As we have already mentioned, it is a captive audience.
0:23:34 > 0:23:38For advertisers, I guess they want to advertise. And yet all print
0:23:38 > 0:23:42media is struggling out there because of the relentless
0:23:42 > 0:23:47competition from social media and elsewhere?That is absolutely
0:23:47 > 0:23:51correct. Digital has hammered the traditional newsprint market. We
0:23:51 > 0:23:59have very much bucked that trend. Global passengers are growing. In
0:23:59 > 0:24:02the next 20 years passenger numbers will more than double. 4 billion
0:24:02 > 0:24:14passengers this year. That would be roughly 7.4 by 20 24.You are
0:24:14 > 0:24:18growing a reader base.It is a niche market.Very sadly, we will have to
0:24:18 > 0:24:22leave it there. A short interview because of the
0:24:22 > 0:24:27events in New York. Thank you for coming on.
0:24:27 > 0:24:29In a moment we'll take a look through the Business Pages.
0:24:29 > 0:24:33But first, here's a quick reminder of how to get in touch with us.
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0:24:58 > 0:25:01and online whenever you need to know.
0:25:01 > 0:25:06Jeremy has returned. We are going to talk about a story that broke this
0:25:06 > 0:25:11time yesterday. Christopher Bailey bowing out of Burberry. This is an
0:25:11 > 0:25:16interesting tale?It is. Is it better to leave at the peak or fade
0:25:16 > 0:25:20away? He has been Burberry for 17 years. We have seen a couple
0:25:20 > 0:25:29high-profile departures. Creative director, CEO, chairman... Angela
0:25:29 > 0:25:34Aarons used to be the big cheese at Burberry. She went to Apple in 2014.
0:25:34 > 0:25:40She was the highest-paid FTSE CEO. She was a real star. Apple just
0:25:40 > 0:25:45scooped.It is interesting how fashion and Tech have started to
0:25:45 > 0:25:52melt. I wouldn't be surprised if Christopher Bailey went somewhere
0:25:52 > 0:25:59more tech oriented.Sadly we have to leave it there. Many thanks. That is
0:25:59 > 0:26:03it from us. We are back tomorrow. Bye-bye.