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during his trip to Asia.
But the devil may be in the detail.
Live from London,
that's our top story
on Tuesday the 14th November.
President Trump says he's
open for free and fair
trade but Asian leaders
international trade but Asian
leaders still have their doubts -
we get an expert view on just how
successful the mammoth
Trump tour of Asia was.
Also in the programme...Uber
Another boss leaves the ride hailing
firm, this time in India.
We'll cross to Mumbai
to find out more.
He's the founder of Easyjet
and one of Europe's
best known businessmen.
Sir Stelios Haji-Ioannou
will be talking us about
being a trailblazer and why it's
important to give back.
And reports say pets are the latest
victim of the UK housing crisis,
as houses get smaller with little
or no outside space.
So we want to know - do
you still find space for your pet?
Let us know, preferably
with pictures of your pets!
Just use the hashtag #BBCBizLive.
Hello and welcome to Business Live.
To get the ball rolling I've already
tweeted a picture of my dog in the
sea so have a look at that. Let's
start with the top business story.
Five countries, nearly
two weeks, and billions
of dollars in deal-making.
Well that is the line
from the White House.
After all, the President
is known to be a deal-maker.
So much so, in fact,
that he's promised a major statement
on trade before he arrives
back in Washington.
That means the clock is ticking.
The White House is touting
the rather whopping figure
of $300 billion in deals
during his trip of Asia.
The lion's share of that
came during his trip
to China - $250 billion.
South Korea, Japan, and Vietnam make
up the remaining 50-odd billion.
Mr Trump is still in
the Philippines, so we'll
hold off on that figure.
An announcement may come. This is
business and you have to pay
attention to the small print.
So dig a little deeper and you'll
see that some of these
are Memoranda of Understanding -
MOUs - so more promises
of agreements to come.
Or they're deals that had
already been in the works,
for months or even years.
All will need official approval.
Sarah Fowler, from the advisory firm
Oxford Analytica is with me.
Nice to see you. Sally running
through the details and the small
print, there's devil in the detail.
President Trump has been tweeting,
saying lots of meetings and we will
turn them into great deals for our
country, but I wonder if they are
really as good as they would have us
I think there is a lot of
relief nothing disastrous has been
tweeted but equally disappointment
because a lot of that 300 billion,
some of it is not guaranteed. For
example I think there's an 80
billion shale gas deal that is
subject to a lot of nonbinding
clauses. There's also a feeling some
of the deals were already agreed,
they just waited to announce them on
the big stage, as it were. I think
the 38 billion Boeing deal for China
buying US aircraft, a lot of that
was in the plans.
I think a lot of
the focus for President Trump has
been the trade deficit that he sees
the US having with Asian countries
and that has been a motivating
factor for him to try to rebalance
that trade relationship.
His tone in
this trip has been slightly more
conciliatory. Previously during his
campaign and early months in office,
he blamed other countries for the
deficit. This trip, he has shifted
his stance a little bit and he's
blaming previous US administrations
for lowering barriers and not
insisting that other countries
reciprocated. But actually good
service is only one part of the deal
because the US runs a big services
surplus with many of the Asian
countries and actually because the
Asian domestic markets are largely
growing faster than the US, in many
cases to war three times,
maintaining a good economic
relationship between the two is
actually really important.
Overriding the tendency to attack on
trade is the importance of
maintaining good relations for both
We have heard so much from
President Trump and he has blamed
other administrations for the trade
deals, things he's tried to get out
of, yet you might think those are
the things that would help that
trade relationship. I suppose there
are some unofficial ones in place
Trump has been quite
positive on this trip about the
bilateral deals with individual
countries, and when he was in Japan
last week, he and Abe were both
quite positive on working towards a
free trade deal. When he was in
South Korea the tone was also quite
conciliatory in terms of
renegotiating, talking about the
career free trade deal. -- Korea. He
has been less supportive on the
multilateralism. The US taking less
of global governance may give China
more impetus in that area to take
more global responsibility, which is
also bringing the rest of the world
together for more cooperation,
climate change, less protectionism
against each other. We may also see
with the rest of Asia TBP ex-US is
also on the cards.
It is pretty
complicated but thank you for
Let's take a look at some of
the other stories making the news.
Credit Suisse has agreed to pay
a settlement of $135 million
after regulators in New York
found its foreign exchange unit
was involved in unlawful conduct.
It's the latest settlement to emerge
from a global investigation
into foreign currency markets.
Credit Suisse said it was pleased
"to put this matter behind it".
Goldman Sachs has written off
the value of its stake
in the Weinstein Company
after claims from
more than 50 women.
that ex-chairman Harvey Weinstein
sexually harassed or assaulted them.
Weinstein has denied the claims
but the firm is seeking fresh
funding after a number
of investors severed links.
Shares in toymaker Mattel -
which owns Barbie -
jumped 20% after reports that rival
Hasbro could be
considering a takeover.
Hasbro, the owner of Play Doh
and My Little Pony, were also up.
Last month, shares in both companies
fell on concerns that the bankruptcy
of Toys R Us could hurt sales.
Let's head to India, where Uber's
chief of policy for the country
and South Asia has quit.
It's the latest high-level departure
at the ride-hailing firm.
Yogita Limaye is in
Mumbai with the details.
We have had a confirmation from both
the company as well as the executive
about the exit. Neither has given a
reason but eyebrows have been raised
because she has only been in the job
about a year. She was mainly there
to liaise with the Government, and
policymakers in South Asia. This
follows a slew of Uber exits around
the world, the head of London Uber
as well, and in India, which is its
most important market after the US,
Uber also faces stiff competition
from its domestic rival. But it
seems to have been a mixed bag of
all week for the company. It also
put out a statement yesterday saying
it had agreed with a consortium led
by Softbank about a potential
investment in the country. We've
also had a statement from Softbank
today which confirms they are
considering this investment but they
do say no deal has been reached so
far and if the price is not good
enough for them they could pull out.
Basically Uber saying they could in
the coming months have an investment
OK, we will keep an
eye on that. So people at top
level at Uber going, but at the same
time Uber doing deals. The markets
are down, profit-taking going on to
a certain extent in Asia. Looking at
Europe, for the UK in general very
much on inflation watch, we will
have the numbers at 9:30am this
morning but we have had good
readings from Vodafone, better than
expected. Tesco shares up, they have
a deal to take over Booker.
And Samira Hussain has
the details about what's ahead
on Wall Street Today.
The biggest high-profile hedge fund
investors will reveal their
third-quarter purchases and sales of
such closely watched stocks like
Apple and Amazon .com. Other than
being a fascinating snapshot of how
they invest, they will also reveal
market trends including the stocks
at the beginning of the second half
of the year. The number one home
improvement chain, home Depot, is
expected to have benefited from a
demand for home essentials and
restoration equipment during the
aftermath of powerful hurricanes
that tore through the country during
Joining us is George Godber
from Polar Capital.
Let's talk about inflation because
we get the latest update in the UK
today and we have seen it rising
consistently, what are you looking
I think all eyes will be on the
weakness in sterling which will
trigger the governor of the Bank of
England having to write to the
Chancellor to explain why it is
there but he would say it is
temporary and it would be moderated
as we go forward.
How much impact do
you think a rate rise would half? It
takes time to filter through to the
economy but it's only a quarter
percentage rise so does it have an
impact on the inflation figure?
is the line in the bank is taking.
UK output is tricky and uncertain at
the moment so the bank is pushing
the line, this is one and done, we
don't need to do any more from here
and they were just taking off the
emergency cut after the Brexit vote
last year. But after inflation is
out of the bag, can you push it back
In terms of the story is out
today, you were talking about ITV
earlier, you were particularly
interested in that one, why is that?
The shares have been very tough in
the wake of the Brexit vote, it has
exposed the UK economy. Most of its
earnings come from here and we have
seen an important line in that
statement which is important for all
traditional media, fast moving
consumer goods starting to put money
back onto TV. They have been
shifting their advertising dollars
from traditional sources to Facebook
and Google and so on. Earlier in the
year there was a big furore when we
saw advertisements alongside adult
content on YouTube. The internet is
unregulated and we are starting to
see brand importance is muttering to
the big advertisers.
So our future
is safe for now!
We are still waiting for the robots,
Still to come, the founder
of Easyjet has been talking to us
about being a business trailblazer
and why he's turning his
hand to philanthropy.
You're with Business
Live from BBC News.
Stay with us. Let's talk some more
ITV has announced a 1% fall
in revenue to around $2.7 billion
for the nine months
to 30th September.
The ale has the details. Just
explain what these figures show, and
clearly what state the broadcaster
is in when Carolyn McCall starts.
There are two sides to this. ITV has
been coming under a fair amount of
pressure in its business. The
problem as ITV sees it is first of
all its competitive market. As we
are hearing, there's a lot of
competition for advertising revenues
at the moment and at the same time
companies have been cutting back on
advertising spending, as ITV it,
because of economical uncertainty.
There are signs those fast-moving
consumer companies are starting to
come back into the market, that's a
positive development. ITV's business
and producing content, ITV studios
that produces things like Coronation
Street, is doing very well, its
revenues were up 9% and that is
offsetting some of the losses in the
traditional business so as you can
see, the traditional advertising
from television model that ITV has
pursued is weakening at the moment.
On demand television is where it
seems to be making its money at the
Caroline McCall a regular on our
business programme. She was in
charge of Guardian Media Group.
Interesting that she is going to
take this on board in the New Year?
She is known for taking businesses
on that operate under tight margins
and the obvious one is easyJet. The
budget airline market is a
particularly difficult one to
navigate so she will be looking at
this and seeing where the weaknesses
are and how she can sort it out,
while not reducing the improved
income from the other areas of the
Theo, thank you very much
indeed. Lots more detail on that
story and others on our Business
We will have full coverage, of
course from the inflation figure.
You're watching Business Live.
Our top story:
President Trump announces
$300 billion worth of deals
during his trip to Asia.
He's also stressed his commitment
to free trade on fair terms.
Keep your pictures coming in of your
We are talking about whether houses
are too small in the UK to have a
pet. A report suggests they are
being squeezed out during the
Our next guest is best known
as the man behind budget airline
Easyjet and the Easy brand that
spans planes, hotels,
pizzas even dog walking.
He once said, "I have been lucky
in life", having inherited
wealth from his father,
a self-made Greek-Cypriot
Sir Stelios founded the Easyjet
airline when he was just 28 years
old but since then he has
amassed considerable fortune.
This year he joined the ranks
of super-rich philanthropists,
signing up to the Giving Pledge
dedicating the bulk of his
personal wealth to charity.
He is also behind an annual award
for disabled entrepreneurs
which takes place tonight
here in London.
I caught up with him and started
by asking about the awards
and why he is involved.
At that time I wanted to create a
bit of an institution, a bit of a
legacy if you like. So we sat is
down together with the people from
Leonard Cheshire and created a
annual award that goes to a disabled
person who started a business. Can
you imagine how rare that is?
Starting a business that does well
is difficult enough, and you
superimpose the requirement to be a
disabled person and then you get
some truly exceptional and unique
individuals who apply.
Finnan tra pee is a very important
part of who you are now and what you
are about and you are part of the
Giving Pledge which is a pledge to
give the majority of your wealth
away. Just tell us more about that
and what you look for?
Pledge was started by Bill and me
Linda Gates and warren buffet in
2010. It now accounts about 160
individuals or families around the
world who have made a pledge to give
more than half the majority, the
majority of their fortune to a good
cause. Essentially what I have
decided to do is start a series of
projects, good charitable projects
which I'm involved with during my
lifetime and then in the end, you
live half -- leave half your estate
to family, and half the estate to a
charitable foundation and that
foundation will carry on doing the
good work forever.
You tell us about
the passion to give back and yet
many might look at you and the fact
that you are a resident of Monaco, a
tax haven, how do you marry the two?
Well, let's put things into
prospective. I was born and raised
in Athens in Greece. My family comes
from Cyprus. My later father was a
shipping magnet who left Greece and
moved to Monaco in 1990, that's 27
years ago and that's five years
before I started easyJet or before
any of you would have heard of me.
So Monaco has been a family home if
you like for many, many years, it's
a very nice place to live. I also
believe that, you know, I have done
more than my fair share for the
British economy. I created at least
one very big business in this
country. I created many others, this
company has paid tax in the UK and I
think where someone lives is a
So you own Easy
Group which is an investment company
in the UK that has more than 1,000
registered trademarks, some we have
heard of course, easyJet, Easy
Hotel, Easy bus, what do you look
for when a company approaches you
looking for the Easy trademark?
look for someone who is ambitious
and clever and know enough about
business to be able to start it, but
probably they are young enough not
to know how much risk they are
taking, a bit like myself when I
started easyJet at the age of 28. I
think 28 is a good year because you
don't understand how much risk
Let's talk about
easyJet, the most well-known Easy
brand as it were. It has got a new
boss in place. Just tell us about
the outlook for the airline under
his new stewardship?
I would like
him to do well. I want to do good
out of his making the money out of
the company and for himself so I
wish him very well. I think the
company easyJet has had its ups and
downs like most companies. At the
risk of offending the all the people
who run big businesses I think they
are like politicians in the sense
that they ride the cycles and the
cycles go up and down with the
economy or with how much risk you
want to take or other factors in
your industry. So, in reality they
are not, they shouldn't be taking
all the credit when things are going
well and we shouldn't blame them
when things are going down. EasyJet
at the moment is if you like not as
profitable as it was three years
ago, but it is growing faster and
always the excuse is let's grow
faster and let's get through to the
other end stronger.
That was Stelios
who I spoke to yesterday. Really
fascinating chat about all sorts and
we gave you four minutes worth
Did you talk about pets?
There is an Easy dog walking
company. Somebody approached him on
a flight with their business plan
and he said send me the information
and if it is good enough, you can
have the Easy brand. A-report talks
about houses getting smaller so it
means that pets are squeezed out.
Sally, you were tweeting the picture
of your dog.
Where is that?
One viewer says I live in
a one bed flat.
Steve Smith says,
"My dog Sky is big and we live
happily in a cottage in Wiltshire."
That's a beautiful, beautiful dog.
And Sookie and Sadie are watching
the show and controlling the remote
So they should!
is the answer, get a dog that's
small and then it doesn't take up
any space in the house!
There you go. Let's talk to George.
George you have got the job of
explaining why we have got lots of
Those of us in
the UK we are pet mad, but pet
ownership has fallen and what the
report says this is a function of
the housing crisis and housing has
got smaller, but importantly, less
outside space. The ability for
people to keep pets.
you know, it's not just about having
pets, but having that outside space
as well for people's mental health?
The report touched on a few things.
One of the things I thought was most
curious, it says pets can help their
owners get dates! I don't know if
that's in addition to their profile
on social media or whether it is
like 101 Dalmatians, it is the pet
that's driving the dating process.
Pets have huge benefits of having
people feel better and recover from
illnesses and just improve their
Let's look at some
other stories out there in the
Independent, UK wages, you have
moved on from it actually Ben.
is too many adverts on the page. Let
me remove the page. UK wages...
on, tell us more.
The UK wage crisis
still continues. There are pockets
where we are starting to see
improvement and parts of
construction and some parts of
engineering, but it is sluggish and
this is what we are also seeing is
not just the wages have gone up with
the national Living Wage, but
differentials, either bits above
that is where it is still very, very
tough. Now, the Brexit will harm the
UK economy, but will this actually,
you know, help the UK economy by
having less workers come in? That
could be light at the end of the
Thanks, George. Thank you
for putting up with all our pet
pictures. Thank you for your
company. Keep them coming in. We
will look at them later. See you