0:00:09 > 0:00:12This is Business Live from BBC News with Sally Bundock and Alice Baxter.
0:00:12 > 0:00:14President Trump renews his pledge to rebalance American trade
0:00:14 > 0:00:18but warns he'll be selective about the deals he does.
0:00:18 > 0:00:25Live from London, that's our top story on Friday, 10th November.
0:00:37 > 0:00:41As 11 countries try to get one of world's biggest free
0:00:41 > 0:00:44trade deals back on track without the United States,
0:00:44 > 0:00:48President Trump says he will do bilateral deals.
0:00:48 > 0:00:51We'll be live to the APEC summit in Vietnam for the latest.
0:00:51 > 0:00:52Also in the programme...
0:00:52 > 0:00:57Japan's third biggest steel-maker blames a lack of control
0:00:57 > 0:01:00for the scandal which led car and plane makers worldwide to check
0:01:00 > 0:01:06the safety of their products.
0:01:06 > 0:01:08And markets in Europe are edging
0:01:08 > 0:01:08higher
0:01:08 > 0:01:10And markets in Europe are edging higher as traders begin to wrap up
0:01:10 > 0:01:13their working week. We will talk you through the market movers and
0:01:13 > 0:01:15shakers.
0:01:15 > 0:01:20And we'll be getting the inside track on all the big
0:01:20 > 0:01:29stories of the week, including President Trump's tour of Asia
0:01:29 > 0:01:33And the slow progress of Brexit negotiations. That is all coming up
0:01:33 > 0:01:39with our economics editor, Kamal Ahmed.
0:01:39 > 0:01:48And as one of the founding fathers of Facebook, Sean Parker,
0:01:48 > 0:01:50sounds the alarm over social media, describing it as a "time-sink",
0:01:50 > 0:01:53we want to know how the social media phenomenon has
0:01:53 > 0:01:54changed your behaviour and that of your children.
0:01:54 > 0:02:01Let us know - just use the hashtag #BBCBizLive.
0:02:01 > 0:02:05A warm welcome to Business Live, we have the Friday feeling today and we
0:02:05 > 0:02:09have a lot to pack in so let's get cracking. Starting with US President
0:02:09 > 0:02:14Donald Trump who had a clear message for the leaders gathered at the
0:02:14 > 0:02:16Asia-Pacific economic cooperation summit in Vietnam, if you want to
0:02:16 > 0:02:19trade with the world's big economy you will have to reach a bilateral
0:02:19 > 0:02:31deal. This as delegates from the other 11 countries try to save a
0:02:31 > 0:02:34deal that he has pulled out shortly after he moved into the White House.
0:02:34 > 0:02:42If it did include the United States, the TPP would have included 12
0:02:42 > 0:02:48countries whose economies are worth some $29 trillion. That is about 38%
0:02:48 > 0:02:58of the world's economy.
0:03:03 > 0:03:06But the world's biggest economy, the USA, is so big that without them
0:03:06 > 0:03:09it's only worth $10 trillion - or just 13.5% of the world economy.
0:03:09 > 0:03:11The remaining 11 nations would benefit from lower tariffs
0:03:11 > 0:03:13as well as new rules for labour, the environment and
0:03:14 > 0:03:15intellectual property.
0:03:15 > 0:03:17But the US retreat from the deal is also providing a big
0:03:17 > 0:03:18opportunity for China.
0:03:18 > 0:03:21Here's what the US and Chinese leaders had to say.
0:03:21 > 0:03:25I will make bilateral trade agreements with any Indo-Pacific
0:03:25 > 0:03:35nation that wants to be our partner, and that will abide
0:03:35 > 0:03:37by the principles of fair and reciprocal trade.
0:03:37 > 0:03:40What we will no longer do is enter into large agreements
0:03:40 > 0:03:42that tie our hands, surrender our sovereignty,
0:03:42 > 0:03:49and make meaningful enforcement practically impossible.
0:03:49 > 0:03:50TRANSLATION:Openness brings progress, while self-seclusion
0:03:50 > 0:03:53leaves one behind.
0:03:53 > 0:03:56We, the Asia-Pacific economies, know this too well from our own
0:03:56 > 0:04:03development experience.
0:04:03 > 0:04:09We should put in place a regional cooperation framework that ensures
0:04:09 > 0:04:10consultation among equals, wide participation,
0:04:10 > 0:04:15and shared benefits.
0:04:15 > 0:04:18Karishma Vaswani is outside the APEC conference in Da Nang, Vietnam.
0:04:18 > 0:04:22Leaders of the two largest economies in the world giving two very
0:04:22 > 0:04:26different speeches. What did you make of them?
0:04:26 > 0:04:32Yes, I think those two sound bites that you heard from President Trump
0:04:32 > 0:04:38and President Xi showed the contrast in what they have to say. On the one
0:04:38 > 0:04:41hand, Donald Trump saying he will do business with America at the centre
0:04:41 > 0:04:45of all of his transactions, America First, and any country that wants to
0:04:45 > 0:04:50do business with me will have do deal with me in a bilateral fashion.
0:04:50 > 0:04:53Whereas President Xi was really talking about China's leadership
0:04:53 > 0:04:58role in the region, it is about consensus, building opportunity. He
0:04:58 > 0:05:03mentioned things like artificial intelligence, the Digital economy,
0:05:03 > 0:05:07opportunities for growth, really pushing China out there as a
0:05:07 > 0:05:11visionary for the Asia-Pacific region. He talked about the one belt
0:05:11 > 0:05:15one road programme, saying it may be a Chinese initiative but it is also
0:05:15 > 0:05:21one for the world. Meanwhile, against the backdrop of all of this,
0:05:21 > 0:05:24the TPP, the transpacific partnership agreement, with the 11
0:05:24 > 0:05:29economies, Apec economies that were left behind after Donald Trump
0:05:29 > 0:05:34pulled out of the trade deal, are still scrambling, trying to get this
0:05:34 > 0:05:38massive trade deal through, and we are hearing reports that some kind
0:05:38 > 0:05:43of agreement may come together at some point today or perhaps tomorrow
0:05:43 > 0:05:47when this summit ends, but the stark contrast between what Donald Trump
0:05:47 > 0:05:52had to say and what President Xi had to say I think will be followed
0:05:52 > 0:05:56extremely closely by members of the Apec economies as well as the wider
0:05:56 > 0:06:01Asia-Pacific region. Considering how conciliatory the
0:06:01 > 0:06:04town has been that Donald Trump has struck so far on his Asian tour,
0:06:04 > 0:06:12particularly in China, did it come as a surprise when he came out so
0:06:12 > 0:06:16strongly earlier today talking about trade imbalances, product dumping,
0:06:16 > 0:06:20currency manipulation. He did not name any country specifically. You
0:06:20 > 0:06:25were in the room at the time, what was the atmosphere like?
0:06:25 > 0:06:31Well, I think people were expecting him to say something about unfair
0:06:31 > 0:06:33trade, every single delegate or foreign leader that I have spoken to
0:06:33 > 0:06:39in the lead up to his speech said they did expect him to kind of
0:06:39 > 0:06:44present the US vision for itself in the Asia-Pacific region, but you are
0:06:44 > 0:06:47absolutely right, he outlined very definitely all the ways in which the
0:06:47 > 0:06:51US has been a victim of global trade, and all the things that he
0:06:51 > 0:06:55talked about, currency manipulation, state-owned enterprises pushing
0:06:55 > 0:07:00economic growth in some countries further ahead, that sounds pretty
0:07:00 > 0:07:04familiar, doesn't it? He is pretty much making a veiled reference to
0:07:04 > 0:07:09China without calling China out. Indeed. Many thanks.
0:07:09 > 0:07:13We will have more on that later. Let's have a look at other stories
0:07:13 > 0:07:15making the news.
0:07:15 > 0:07:19One of the architects of the clause which allows countries to leave
0:07:19 > 0:07:22the European Union has told the BBC that the British public shouldn't be
0:07:22 > 0:07:24misled by Government claims that Brexit can't be reversed.
0:07:24 > 0:07:27Lord Kerr was talking as the sixth round of Brexit talks get
0:07:27 > 0:07:35underway in Brussels.
0:07:35 > 0:07:37Prime Minister Theresa May has again warned against efforts to slow
0:07:37 > 0:07:41or stop the process.
0:07:41 > 0:07:46China is lifting foreign ownership limits on financial firms.
0:07:46 > 0:07:49The move will be welcomed by the world's biggest banks who want
0:07:49 > 0:07:53access to the huge and lucrative market there. Foreign firms will be
0:07:53 > 0:07:59able to control joint ventures with Chinese partners.
0:07:59 > 0:08:02Walt Disney has seen annual profits fall for the first time since 2009,
0:08:02 > 0:08:03amid growing competition from streaming
0:08:04 > 0:08:05services like Netflix.
0:08:05 > 0:08:07Shares, though, rallied after it announced a deal to make three
0:08:07 > 0:08:12new Star Wars movies.
0:08:12 > 0:08:17The CEO refused to comment on reports it has held talks
0:08:17 > 0:08:19on a partial takeover of 21st Century Fox,
0:08:19 > 0:08:22but did not rule out making an acquisition.
0:08:22 > 0:08:25The plot thickens there.
0:08:25 > 0:08:29The struggling Japanese steelmaker Kobe Steel has blamed a lack
0:08:29 > 0:08:30of control for its safety scandal.
0:08:30 > 0:08:35Many of the world's biggest car and planemakers have had
0:08:35 > 0:08:37to check their products because of fake safety data.
0:08:37 > 0:08:44Leisha Santorelli is in Singapore.
0:08:44 > 0:08:47Kobe Steel is something we follow really closely, what have they told
0:08:47 > 0:08:52us today? Well, the Japanese Government Micro
0:08:52 > 0:08:58had actually ordered Kobe Steel to provide a detailed explanation of
0:08:58 > 0:09:00how this cheating scandal could have stretched on for so many years
0:09:00 > 0:09:06undetected as well as to give measures to...
0:09:06 > 0:09:10Kobe Steel released a report in the last hour, the CEO giving a press
0:09:10 > 0:09:13conference, but aside from a lack of control the company has control the
0:09:13 > 0:09:18company has blamed the scandal on a focus on profits but we have not
0:09:18 > 0:09:24seen many other details emerge. The Kobe Steel CEO and other senior
0:09:24 > 0:09:28executives appear to be staying on at the company, some analysts
0:09:28 > 0:09:32believe they should step down, that they should resign, to demonstrate
0:09:32 > 0:09:36that such lapses in management are not acceptable, especially since
0:09:36 > 0:09:41this has damaged the reputation of corporate Japan as well as the trust
0:09:41 > 0:09:44in the quality of the products coming out of the country.
0:09:44 > 0:09:49OK, thank you very much indeed, the latest there on Kobe Steel. Let's
0:09:49 > 0:09:53look at the market in general in Asia, a fairly flat day is not a bit
0:09:53 > 0:10:01down. The main market in Tokyo closing down by .8%, it was at a 21
0:10:01 > 0:10:03year high yesterday, though, so let's put it in perspective. Let's
0:10:03 > 0:10:08look at Europe now, everything edging slightly higher, no big moves
0:10:08 > 0:10:14in either direction. Singles Day tomorrow, the biggest shopping event
0:10:14 > 0:10:18of the year, it is really what Alibaba, less than ten years ago,
0:10:18 > 0:10:21turned a quirky celebration of single people in China into a
0:10:21 > 0:10:25massive global shopping grabbing -- shopping extravaganza so companies
0:10:25 > 0:10:30like Alibaba tomorrow will be making billions of dollars of profit in
0:10:30 > 0:10:3624-hour was, big event for Asia and China in particular tomorrow.
0:10:36 > 0:10:39Samira Hussain has the details about what's ahead on Wall Street Today.
0:10:39 > 0:10:40On Friday the department store operator JCPenney
0:10:41 > 0:10:45will be reporting earnings.
0:10:45 > 0:10:53Last month JCPenney slashed its full-year forecast after selling
0:10:53 > 0:10:54some of the inventory that just wasn't moving,
0:10:54 > 0:10:56and they sold it massive discounts.
0:10:56 > 0:10:58These earnings really come at a time when the retail industry
0:10:59 > 0:11:00is facing some tough times.
0:11:00 > 0:11:02Retail giant Macy's, Kohls and Nordstrom all reported
0:11:02 > 0:11:03earnings on Thursday.
0:11:03 > 0:11:04For example, Macy's, while it beat expectations,
0:11:04 > 0:11:06same-store sales fell, indicating continued pressure
0:11:06 > 0:11:10on getting customers into physical locations.
0:11:10 > 0:11:13The credit agency Equifax reported earnings on Thursday but will only
0:11:13 > 0:11:21be holding their call with investors on Friday.
0:11:21 > 0:11:23Really giving Wall Street time to digest the numbers.
0:11:23 > 0:11:25This was the first time we'd heard from the credit agency
0:11:25 > 0:11:27since a data breach that compromised the information
0:11:27 > 0:11:28of 145 million Americans.
0:11:28 > 0:11:32You can expect that there will be a lot of questions about
0:11:32 > 0:11:37the company's future going forward.
0:11:37 > 0:11:39Joining us is James Bevan, chief investment officer at CCLA
0:11:39 > 0:11:42Investment Management.
0:11:42 > 0:11:50Wonderful to see you.Brilliant to be here, what fun.I went to expand
0:11:50 > 0:11:54on a story we mentioned earlier, the news hot on the heels of Donald
0:11:54 > 0:11:58Trump's visit to Beijing, China now pledging to open up its financial
0:11:58 > 0:12:03sector to more foreign ownership. How big a movie this?It is
0:12:03 > 0:12:07significant, it will not happen overnight, we should expect this to
0:12:07 > 0:12:10happen over a period of years and the early announcements made by
0:12:10 > 0:12:13China talk about a five-year transition. However, when one thinks
0:12:13 > 0:12:17about what lies behind it, it is about China wanting to be part of
0:12:17 > 0:12:21the global economy in a very real sense. I think a number of the huge
0:12:21 > 0:12:27US players that have been in joint ventures will now come back.Let's
0:12:27 > 0:12:33talk about the markets in general, another bumper week, it would seem?
0:12:33 > 0:12:36Asia yesterday, at one point vindicate to do five at 821 year
0:12:36 > 0:12:41high. Give us your take on the markets?It goes back to the China
0:12:41 > 0:12:47story a game, China has been exporting around $600 billion, they
0:12:47 > 0:12:53have been buying up stock markets, London houses, footballers, you name
0:12:53 > 0:12:57it, China has been buying it, and it has been a huge driver in terms of
0:12:57 > 0:13:00market valuation but critically we have had better global economic
0:13:00 > 0:13:04news, corporate earnings are stronger, that justifies higher
0:13:04 > 0:13:11valuations. You say, how high can it go? I said 2700 points, 18 times
0:13:11 > 0:13:16forward earnings probably about right, but I equally think there is
0:13:16 > 0:13:22a risk of a belt of people piling into markets, driving prices
0:13:22 > 0:13:25significantly above fair value, from which point eventually there will be
0:13:25 > 0:13:30a correction.And what will that be like when it comes?It will be
0:13:30 > 0:13:36really nasty. The next bad market will come when we start to talk and
0:13:36 > 0:13:43think about recession. At the moment we have a lot of economy is set to
0:13:43 > 0:13:47expand at a fast rate and if we get that Upton, we get a policy
0:13:47 > 0:13:51response, down in global economy, the rich valuations will come down
0:13:51 > 0:13:53with a big bump.I like that prediction, it is going to get
0:13:53 > 0:14:00really nasty.Not until 2019, we don't want to frighten people.We
0:14:00 > 0:14:06want to briefly touch on oil, how interested are you in that?I am
0:14:06 > 0:14:11very interested in oil. When I look at the oil price 82 macro drivers,
0:14:11 > 0:14:15demand driver, how much people buying? And a supply driver, in
0:14:15 > 0:14:19terms of the global delivery of oil into markets. At the moment I would
0:14:19 > 0:14:24observe what we are looking at, the concern is more the supply side
0:14:24 > 0:14:27because of the political movement going on in Saudi and tension
0:14:27 > 0:14:31between Saudi and Iran. I don't think this price hike we are seeing
0:14:31 > 0:14:36at the moment will stick but I think those concerns will dissipate.Saudi
0:14:36 > 0:14:39Arabia, isn't it, right now? The prices are so high?In the very
0:14:39 > 0:14:45short term they will fall but what they want is a stable price for
0:14:45 > 0:14:48long-term planning and cash flow. Thanks, James Comey you will come
0:14:48 > 0:14:50back and talk through the papers in a bid.
0:14:50 > 0:14:54We have a lot on the agenda today. We will get the inside track on the
0:14:54 > 0:15:02big stories of course one man, maybe two men, have dominated, president
0:15:02 > 0:15:05Trump, President Xi Jinping have pretty much been in the headlights
0:15:05 > 0:15:08each day. We will talk about that and also
0:15:08 > 0:15:11Brexit talk, all coming up with our economics editor Kamal Ahmed.
0:15:11 > 0:15:21This is Business Live from BBC News.
0:15:21 > 0:15:25The Royal Society, the country's most respected science academy,
0:15:25 > 0:15:27says we should be spending ten times as much money teaching children
0:15:28 > 0:15:32about computer science.
0:15:32 > 0:15:35Joining us now from Salford is Royal Society fellow
0:15:35 > 0:15:38Professor Stephen Furber of University of Manchester.
0:15:41 > 0:15:45Thank you for joining us on the programme. How serious a situation
0:15:45 > 0:15:49is this?The problem is there were major changes in the school's
0:15:49 > 0:15:56computer Greg curriculum a few years ago and there hasn't been adequate
0:15:56 > 0:16:01support for teachers to adjust to the change. The new aspect include
0:16:01 > 0:16:03aspects of computer science that are challenging and we need more support
0:16:03 > 0:16:09to make sure teachers can teach it effectively.In terms of how we do
0:16:09 > 0:16:12globally, how do we compare when it comes to investment in computer
0:16:12 > 0:16:17sciences etc?I don't know the comparative international numbers,
0:16:17 > 0:16:22but I think we are in the league when it comes to moving to a proper
0:16:22 > 0:16:27computer science curriculum in schools. The problem is the current
0:16:27 > 0:16:31setup is very fragile and it's patchy. There are some excellent
0:16:31 > 0:16:37examples of computer teaching in schools, but fewer than half of
0:16:37 > 0:16:40schools in England for computer science at GCSE. It's not available
0:16:40 > 0:16:46to all pupils and we feel strongly all pupils should have the option of
0:16:46 > 0:16:51studying computer science to GCSE. Our pupils excited about it, in
0:16:51 > 0:16:57general? Is there a demand for people to study it?The demand is
0:16:57 > 0:17:01increasing steadily, but the demand is related to how well the material
0:17:01 > 0:17:04is delivered in schools and what support they have in terms of
0:17:04 > 0:17:08training teachers and having appropriate equipment to do
0:17:08 > 0:17:14practical work on. What for now, thank you. Interesting, from the
0:17:14 > 0:17:19University of Manchester.
0:17:19 > 0:17:25We want to draw your attention to the Christmas adverts on the BBC
0:17:25 > 0:17:30website. It's the build-up to it.I like them all, no particular
0:17:30 > 0:17:36retailer.Not discriminating in any way. We have a report on our website
0:17:36 > 0:17:40at the Christmas advert spend is set to hit a record high, the number
0:17:40 > 0:17:47keeps on building every year. We are expecting advertising agencies to
0:17:47 > 0:17:52rake in £6 billion over the Christmas period. Check out the
0:17:52 > 0:17:56website for more on this.
0:18:01 > 0:18:03You're watching Business Live - our top story...
0:18:03 > 0:18:05President Trump has told a gathering of Asia's biggest economies
0:18:05 > 0:18:08that the US will only do bilateral trade deals that
0:18:08 > 0:18:12are in its interests.
0:18:12 > 0:18:14China's president told the same summit globalisation
0:18:14 > 0:18:18was irreversible.
0:18:18 > 0:18:18was irreversible.
0:18:18 > 0:18:24Looking at the markets quickly, it's Friday. Fairly flat, if not a little
0:18:24 > 0:18:28bit lacklustre as we edge towards the weekend... Some long lunches may
0:18:28 > 0:18:30be today.
0:18:36 > 0:18:39It's been a big week for the world economy -
0:18:39 > 0:18:42not least because the leaders of the two biggest - the USA
0:18:42 > 0:18:44the USA and China - have been doing deals.
0:18:44 > 0:18:48And crunch time for Brexit talks is fast approaching.
0:18:48 > 0:18:52The next EU summit is fast approaching in December. We can
0:18:52 > 0:18:53grapple with all of this now.
0:18:53 > 0:18:57Our economics editor, Kamal Ahmed is here.
0:18:57 > 0:19:05Let's start with President Trump. He is at APEC right now. He's been on a
0:19:05 > 0:19:11big tour of Asia.I think this is a significant week in terms of really
0:19:11 > 0:19:15understanding, and we have spoken about this so many times with Donald
0:19:15 > 0:19:19Trump, how much was the rhetoric reel in terms of policy responses
0:19:19 > 0:19:24and economics, and how much would actually start dissolving when he
0:19:24 > 0:19:25realised the complexity of relationships around the world. I
0:19:25 > 0:19:32think this week with his visits to Japan, South Korea, China, and now
0:19:32 > 0:19:35to APEC, has revealed economic reality has won out in the debate.
0:19:35 > 0:19:40The very critical noises that came out of the Trump camp before he was
0:19:40 > 0:19:47elected president, on China and on trade, has dissipated. I think there
0:19:47 > 0:19:49is a reality that America, for example, wants to do big energy
0:19:49 > 0:19:56deals with China. One thing to think about is Asia is not just China.
0:19:56 > 0:20:01Japan, he is with APEC today, with the Philippines and Vietnam. These
0:20:01 > 0:20:05are countries that will be concerned about some of China's expansionary
0:20:05 > 0:20:08behaviour and will see the USA as possibly an ally in challenging
0:20:08 > 0:20:14that. Looking at the South China Seas particularly and some of the
0:20:14 > 0:20:19tensions there. We have seen the economic reality for the USA. And
0:20:19 > 0:20:23for China, America is a big customer, so they want good
0:20:23 > 0:20:27relationships. I think this week has been about that.What about the
0:20:27 > 0:20:33change of stance on the part of the US which we knew was coming. That is
0:20:33 > 0:20:39to say, I will talk about bilateral trade, forget about the big trade
0:20:39 > 0:20:42deals like the Trans-Pacific Partnership, with many countries
0:20:42 > 0:20:46coming together. It will just be one on one, assuming you talk about the
0:20:46 > 0:20:53rules of fair and free trade. The contrast with President Xi, the talk
0:20:53 > 0:21:00of globalisation.Again, some contradictory messages from America.
0:21:00 > 0:21:03America has continued its trade negotiations with the European
0:21:03 > 0:21:07Union, not pulling out of the equivalent of the TTP with the
0:21:07 > 0:21:13European Union, but it did with the Asian free trade agreement. There is
0:21:13 > 0:21:26the notion that with Asia there is better to split the nations. I'm not
0:21:26 > 0:21:30sure everybody is convinced that Davos is a big, positive
0:21:30 > 0:21:35globalisation force either. I think America is becoming aware, and
0:21:35 > 0:21:39frankly President Obama was aware of this as well, it needs to pivot
0:21:39 > 0:21:42towards Asia to ensure there is a baron 's next of economic powers in
0:21:42 > 0:21:49that region. -- a balanced mix of economic powers.Let's move onto
0:21:49 > 0:21:55Brexit negotiations. Round six of talks conclude today. Where are we?
0:21:55 > 0:22:02I think there has been quite strong progress on the three key issues,
0:22:02 > 0:22:06the divorce bill of how much Britain will pay to the European Union. On
0:22:06 > 0:22:10Northern Ireland, I still think there is great tension. That's the
0:22:10 > 0:22:14issue about where Northern Ireland sits, the only land border between
0:22:14 > 0:22:18the United Kingdom and the rest of the European Union, a very
0:22:18 > 0:22:23complicated area. And also citizens rights, EU citizens in Britain, and
0:22:23 > 0:22:28British citizens in the rest of the EU. Some progress there. But you are
0:22:28 > 0:22:32absolutely right in your introduction to say that what they
0:22:32 > 0:22:37are looking towards is the EU summit in December. While the EU allow the
0:22:37 > 0:22:41beginnings of this trade negotiation? This is the big issue.
0:22:41 > 0:22:47The significant point here is, for the exit issue, the EU 27 are
0:22:47 > 0:22:50absolutely locked together, no compromise on what they demand from
0:22:50 > 0:22:55Britain before the exit of the EU is agreed. When it gets to a trade
0:22:55 > 0:23:00deal, the tensions between the EU 27 might start to be revealed, because
0:23:00 > 0:23:02different countries will want different relationships with
0:23:02 > 0:23:07Britain. Countries that export agriculture, countries that export
0:23:07 > 0:23:12automobiles, countries that want to use London as a financial centre. It
0:23:12 > 0:23:16means the EU 27 might start to see tensions coming through. I think the
0:23:16 > 0:23:20free-trade bit of this, which they might start talking about from
0:23:20 > 0:23:24December, that's when the EU 27 might start seeing a bit of
0:23:24 > 0:23:34fractiousness around their approach. Many thanks. Really interesting.
0:23:34 > 0:23:36Let's see what other stories are being talked
0:23:36 > 0:23:37about on social media.
0:23:37 > 0:23:41This is how to stay in touch. The business live pages where to stay
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0:23:54 > 0:24:06web page. As well as on Twitter and Facebook. Business live, on TV and
0:24:06 > 0:24:17online, whenever you need to know.
0:24:18 > 0:24:22What other business stories has the media been taking an interest
0:24:22 > 0:24:25taking an interest in - James Bevan is joining
0:24:25 > 0:24:26us again to discuss.
0:24:26 > 0:24:29The likes of Mark Zuckerberg and Shaun Parker talking about the
0:24:29 > 0:24:34toxicity of Facebook and social media.He has identified people get
0:24:34 > 0:24:41hooked. We know this has always been true. We are heavily motivated to
0:24:41 > 0:24:48take up what we are told is going on in the world. Think about Father
0:24:48 > 0:24:51Christmas, his modern version is created by the Coca-Cola company. We
0:24:51 > 0:24:57have been in this situation for a long time.You can't say that the
0:24:57 > 0:25:00BBC! We still believe he's out there.Santa Claus is still out
0:25:00 > 0:25:05there. But giving him the little red outfit and giving him the name is a
0:25:05 > 0:25:11Coca-Cola inventions.We had a huge response from viewers. Many of you
0:25:11 > 0:25:15have changed your behaviour because of social media. Jerome says he
0:25:15 > 0:25:19boycotts people who are obsessed with their phones at social
0:25:19 > 0:25:24gatherings and terms of Wi-Fi at home. Another viewer, I left
0:25:24 > 0:25:27Facebook months ago and it's the best thing I did. Twitter is less
0:25:27 > 0:25:32consuming. My millennial children are all consumed by social media.
0:25:32 > 0:25:36There is no putting the genie back in a bubble. It's the end of
0:25:36 > 0:25:40innocence. James is on Facebook to keep an eye on your children.I like
0:25:40 > 0:25:46to keep an eye on what they are up to. It's less invasive. They don't
0:25:46 > 0:25:49post things they don't want me to see. It's interesting, the
0:25:49 > 0:25:55monetisation. It's working well. The Facebook share price target is over
0:25:55 > 0:26:01$200.James, always good to have you. Have a good day and we will see
0:26:01 > 0:26:02you soon.