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This is Business Live from BBC
News with Sally Bundock
and Jamie Robertson.
Brexit summit at Downing Street -
the UK Prime Minister meets European
business leaders to hear their views
on how to make a smooth separation
from the European Union.
Live from London, that's
our top story on Monday
the 13th of November.
Leading business experts
will press for a transitional
period after the UK leaves
the single market.
But what will Theresa May have to
say to them?
Also in the programme -
a new passenger on board.
Ride-hailing firm Uber strikes
a huge investment deal
with Japan's Softbank.
The European markets have opened,
and as you can see, they are mixed
for now. We will talk you through
the winners and losers, and we will
have the latest from the Asian
Does your city need a make-over?
Your country getting bad press?
The Institute for Identity
could help - it's a company
specialising in re-branding
for places British authorities say
Kaspersky anti-virus software
could allow foreign governments
to spy on you - so with all
the technology out there -
do you think you're being listened
to or spied on?
Just use the hashtag BBCBizLive.
Hello and welcome to Business Live.
Do get in touch. Let us know your
thoughts on technology and what it
is listening to and hearing. Let's
start with Brexit.
As Britain's departure
from the European Union draws ever
closer there's growing scrutiny over
future trade links
between the two sides.
So for the first time,
Prime Minister Theresa May
will welcome European business
leaders to Downing Street later.
She wants their input
on how to minimise
disruption after March 2019.
15 leading business organisations
from across the continent,
including experts from
the Confederation of
British Industry and Institute
of Directors, will be there.
Last year the UK exchanged
about 730 billion dollars' worth
of goods and services with the other
27 EU countries.
That amounts to 43 percent
of total UK exports.
When it comes to goods,
the biggest share of that is taken
up by cars and chemicals.
Matthew Goodwin, senior fellow
at Chatham House, is with me.
Are all the business is there
speaking with one voice? And what
are they saying?
businesses from 11 countries
visiting the Prime Minister today,
and they do speak from one page.
They want more detail on the
transition deal, saying to the Prime
Minister, get on with sorting out
what Britain's going to pay to
Brussels, let's really hammer home
the new trade relationship. There
are other businesses that say,
actually, all of this is delaying
what Brexit is really about, in
their view, which is getting on and
signing trade agreements with other
countries around the world.
the difference between a soft Brexit
and a hard a soft one asking for are
a Narine -- an arrangement that will
spread things out over two years.
absolutely right. It is about
getting a transition and then moving
into a relationship that is similar
to the one we had before, which
keeps business closed that single
market. Hard Brexit is crashing out
of that into a sort of World Trade
Organisation model where you would
have to be negotiating things like
tariffs and a much more complex
relationship with Europe, but one
that you could argue would give
Britain a bit more flexibility in
terms of those relationships with
Theresa May, is she
in listening mode?
She has to be.
Business is a strong voice. Let's
not forget that businesses also
concerned about the much higher
level of political volatility in the
UK. We have a cabinet that is fairly
split, a Prime Minister that since
the election is weaker, and a
resurgent Labour Party that has a
different vision of what Brexit
would entail, and they will go in
there today knowing that Theresa May
is under pressure.
interesting, because on one hand,
she has a party she has to hold
together, but she also has not got a
reputation for being that business-
friendly. A lot of the ideas she
came out with, workers'
representative on boards, looking at
the size of bonuses, all that seemed
to be anti-business, and one wonders
whether she really is that
sympathetic to what they are going
to be saying.
The key line we need
to be aware of is that between
business and voters. Some of Theresa
May's proposals were not popular
amongst business, but they were
popular amongst voters, and this
tension runs right through the
That makes me feel
she may be more interested in what
the voters think than what business
The electorate are still
very concerned over what they see as
an economy that is tilted towards
London and the elite, in broad
terms, concerned that globalisation
doesn't seem to be very fair, isn't
distributing resources in a fair
way. But what is our new migration
policy going to be? Business says
that we can't last migration because
it will hurt the economy. But those
who voted to leave are saying that
they really want reductions in
overall migration into the UK.
many circles to be squared. Thank
you for joining us.
Boeing has snatched up a dream
of a deal from its rival Airbus
at the Dubai Air Show.
Emirates has placed a preliminary
order for 40 of their 787
Dreamliners in a deal worth
about $15 billion.
That's a blow to Airbus, who was
expecting a deal of their own.
The numbers are in from the world's
biggest online shopping
event , Singles Day.
Chinese internet giant Alibaba sold
$25 billion dollars' worth
of deals on November 11th.
Last year, Alibaba sales
hit a record 18 billion
dollars in 24 hours.
Britain's digital surveillance
agency, GCHQ, says it has concerns
about Kaspersky anti-virus software.
The Financial Times
says the software -
given away free by Barclays to more
than two million customers - could
be used as an intelligence-gathering
tool by the Russian government.
That is the story were asking for
your comments on. We are asking the
general question, are you concerned
that you are being spied on? We were
talking about how we had a
conversation near to our phone and
then we started getting adverts on
social media. Spooky!
President Trump is now
in the Philippines to
attend the ASEAN summit -
that's the Association
of Southeast Asian Nations.
He's been meeting the controversial
leader Rodrigo Duterte,
whose drug war has claimed
thousands of lives.
Leisha Santorelli is in Singapore.
Tell us about today in Manila.
Sally, Donald Trump is on the final
leg of his Asian tour and he met
with the Philippine president for
about 40 minutes. According to
reports, the issue of human rights
was only touched upon, which will
disappoint activists who have been
calling for President Trump to take
a tough line over the Philippine War
on drugs. The president is clearly
focusing on boosting trade and
business ties and is said to have
discussed our bilateral trade deal
with the Philippines. Apparently he
asked the Philippine president by
American cars face higher tariffs
than Japanese cars being imported
into the Philippines. It is all
about putting America first. He
stressed that he is looking for fair
and reciprocal trade relationships
in the region, so now he is pushing
towards more bilateral trade deals
versus big multilateral deals. One
of his first acts on entering office
was to pull out of the transpacific
partnership, so in his meetings
today in the Philippines, it is
clear he is trying to boost ties
with his counterpart there.
interesting. Lots more on that on
our website. Let's look at markets
in Asia. It is quite mixed. We saw
Japan down this Monday, and as you
can see, other markets in Asia are
fairly mixed. The pound sterling is
very weak versus the dollar, based
on a lot of concerns around Brexit
and around Theresa May's position as
Prime Minister. A lot of concern
about her support within her party.
Let's look at Europe and see how
things are giving so far. The
bitcalling is dropping. -- Bitcoin.
The marketing Europe are doing OK,
if a little flat. On Wall Street,
Samir Hussein has the day ahead.
Company earnings continue this week.
On Monday, we will hear from the
number-1 meat processor, Tyson
foods. Increased demand for chicken
will help cells, but the company
must content with falling poultry
and beef prices. Also reporting is
General Electric. The new CEO is
expected to cut earnings targets and
announce a plan to cut costs and
boost profits. He is also likely to
announce management changes, Star
productions and a dividend cut. This
comes as the 125-year-old industrial
conglomerate tries to boost earnings
which stalled under their former
CEO. Add in the coming week, we can
expect to hear from retail giant
Walmart and its big competitor,
Joining us is Nandini Ramakrishnan,
Global Market Strategist at J.P.
Morgan Asset Management
Good morning. The pound and the FTSE
100 are giving in opposite
directions this morning. It is all
connected, isn't it?
They source 70%
of their revenues from outside the
UK, so cheaper pound makes their
goods more attractive. They are more
confident that they can sell goods
and services to the rest of the
world. That is why it plays out in
The pound is a
volatile currency, but why is it
It has been volatile
over the last year and a half,
starting with the Brexit referendum
result. There is no business about
the progress of the negotiations,
what will Theresa May speak to those
business leader groups about today
and over the course of the week was
like all these novas worries about
the strength of the UK position
versus the rest of the Europeans.
The pound will move up and down over
the course of the next few months
because of how uncertain some of the
What are you
watching out for this week?
A lot of
data from China, retail sales, the
amount that consumers in China are
spending. We will see industrial
production of China as well, and it
will be good to see if the new China
story is coming through, the rise of
the consumer rather than the
industrial oriented economy.
spent $25 billion in 24 hours.
will leave it there.
Have a think
about is whether you are worried
about being spied on. Are you being
Still to come: Giving
geographical make-overs -
we'll be speaking to a company that
does re-branding for
countries and cities.
You're with Business
Live from BBC News.
Here in the UK, lots of companies
have come out with earnings.
UK housebuilder firm Taylor Wimpey
has announced that it had strong
second half year results,
supported by demand for new housing.
However, it reported a slight dip
in its order book of 8,751 homes
valued at £2.2 billion.
This compared to last
year's order book of 8,981
houses worth £2.3 billion.
A small dip, to sum that up.
What does this say
about the housing sector?
Joining us now from Bristol,
is Laith Khalaf, Senior Analyst
at Hargreaves Lansdown.
Reading between the lines, the news
from Taylor Wimpey, what does it
tell us about the strength of the
housing market and the construction
It tells us it is pretty
strong. It is business as usual,
really, if you look at the trends we
are seeing. They reflect the picture
of across the last year and before
that, which is that the
house-building sector is pretty
robust. It has been helped along by
a number of tailwinds, one of which
has been low interest rates, of
course, but we have also had the
help her by scheme which help people
get mortgages as well. -- help to by
scheme. There are people who want to
own a house but there aren't enough
to go around, so demand is high.
What about the budget? Are their
worries that that will be bad for
housing or good for it? It seems as
though there has been quite a lot of
talk about more houses, but do you
think it will come to anything in
We will have to wait until next week
to see. It is high on the agenda,
this home ownership crisis. Question
is, what does the government do
about it? That could befriend or
photo for the house-building sector.
The way the government has played it
so far is, of course, that it is
trying to incentivise and encourage
homeownership. -- friend or foe.
Particularly in the private sector,
which has helped house-builders. But
it might affect the government
building houses itself, which could
in fact take business away from the
house-builders. It is up in the air
on where we go on that.
You're watching Business Live -
our top story: A Brexit
summit at Downing Street
later today - the UK
The UK Prime Minister
will meet European business
leaders to hear their views
on how to make a smooth separation
from the European Union.
And now let's get the inside track
on Institute for Identity
The complicated issue of a nation's
identity has become big business.
How a state or a region or a country
is perceived on the world stage can
add millions to its GDP.
Recent events like the situation in
Catalonia, Brexit, and Donald Trump
winning the election.
Natasha Grand, originally
from Minsk, and her husband Alex
have tapped into.
They founded the Institute
for Identity in order to delve
deeper into the psyches of some
of the lesser known Russian
states and to brand them
to the wider world.
How did you start this?
working in the city as a political
risk strategist. The region I was
covering spent a lot of money on
making a nice show for themselves
but actually all they wanted to say
is that they are all right, they
have good infrastructure, their
ratings are fine, but what they
probably did not capture is that it
is not what you should be saying,
everybody is saying the same should
be talking about the about the
culture, the ethics in your region,
the fact your people are
hard-working and want to be leaders.
I think this sense of authenticity
and what people are really like is
quite great for both investors and
It's the unique
selling point of a city, a country,
that kind of thing, which is surely
already out there in terms of what a
city needs to do.
For some nations,
even Britain sometimes, struggles
If you talk about lesser-known
places, it isn't just marketing, you
have to look at the people.
The way they've probably never
looked at themselves and say, this
is your tradition, your culture,
this is how you do things, this is
what you should be telling about
Britain is an
interesting one. What about England,
how would you market England rather
It's not just England.
If somebody doesn't want to set up
business in London, how can Kent and
Cambridge compete for this person?
Cambridge would have academic flair,
biotech start-ups, but Kent is
closer to Europe, Manchester... You
would think it is the same country
but there is still a lot of
diversity in terms of people's
values. That is what is essential.
It's not just selling. It's about
discovering these things.
Give us an
example of what you've done. Of a
city that you've turned around. I
know there are some in Central Asia
you've looked at and tried to help,
tried to give them identity.
don't give it identity. If what we
say does not resonate it won't work.
For example, mints, capital of
Belarus, really lost in what they
should be. -- Minsk, capital of
Belarus. Programming and software is
booming there. Don't invite tourist
for historic venues, you don't have
any, invite them for a conference.
It was bombed during the Second
World War. Well, some people say we
are career advising nations. It's
about finding out what you're good
at and finding out how to package
How do people get to
know about what you are doing? You
and your husband started this
company. I know you because I've
interviewed you in the past when you
were a political analyst. I find it
fascinating that you birthed a
country then you have to get out
there and convince the country that
you are the person to turn it around
and give them identity. -- birth a
It was probably more
difficult, as it was word of mouth,
especially with the first examples,
trying to prove we knew what we were
doing. But we had the background.
And we are much more than a two the
people company. We have designers,
researchers. There is still an
appetite for that.
Does it work?
How do you know?
It becomes a
phenomenon. It's not just tourism,
it's fashion, its music on
everything it's like you add a drop
of ink into a glass of water...
you measure the tourism for finding
out your level of success, foreign
You know instantly if it
works and if the locals start
getting infused about it. -- infused
about it. If they start promoting a
place, if they know what to say
about it, if young people want to
buy into it, they say, this is our
smell, that's how you know. -- if
young people want to buy into it,
for example, they know what to sell
about themselves, that's how you
How do you convince a whole group
of people to change the way they've
been doing things forever?
You can hire Natasha!
CEO Ashish Malik, says it's
about appealing to their wallets.
My secret is we have to get inside
the head of the customer understand
what it is that keeps them up at
Patience is the biggest thing. We
have to understand that changing the
mind of a grower who has been set in
their ways for several generations
doesn't happen overnight. But we
have to ask a farmer, how was it
improving your bottom line, how is
it making your crop more attractive
to their consumers. Producing
chemicals, things like that, we're
bringing value into it. Then we use
the fact that it is a more
sustainable thing. It's like the
icing on the cake. You want to find
progressive thinkers, people who
want new technology, and everybody
looks at their neighbours, see what
practices they are using, that means
it can be more successful, so
probably everybody will adopt it the
Talking about this big investment on
Japan's Softbank into Uber. Why are
they both interested?
would not expect this from a
Japanese Internet service provider
going into Uber. But it looks like a
match for both. Uber Could use the
capital from the purchase. And
Softbank diversifying into this
industry, being able to change the
governance in Uber, which they've
had a problem within the past.
is an understatement CHUCKLES
From the point of view of Softbank,
it crops up again and again, this
company we are talking about a lot.
They've invested in this come and
the other, now Uber.
Any of these
forward type technologies is a way a
company has its roots in the past,
or in other areas, can diversify.
What is Softbank, it's a very
I don't cover it
that much, but it is a huge company
in Japan. It primarily does the
Internet service providing in Japan,
We asked you if you are
concerned about being spied on, this
is because in the FT they are
talking about UK spy masters raising
suspicions over capacity software is
-- over Kaspersky software's Russia
links. Tell us more.
confirmed. It's things like this
software was offered for free to
Barclays consumers. And there are
suspicions from the US and UK that
this has ties to some of the
intelligence organisations in
Some of the answers. Connie
Frickley says, I think there is
nothing in my life was spying on, so
how -- so it is a time and waste of
their -- so it is a waste of their
time and their money.
Another one says the government will
feel pity on me and sublimely with a
Another one says nothing to hide
apart from my wife's Christmas
Thank you for that. Thanks very much
for your company, and getting in
Have a good day, goodbye.