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Airbus signs a $49.5 billion
contract to supply 430 aircraft.
Live from London, that's our top
story on Wednesday, 15th November.
The deal marks a dramatic turnaround
for Airbus as it battles
for supremacy with its
arch rival, Boeing.
We'll assess what's at stake.
Also in the programme,
Japan's economy grows
faster than expected.
We'll cross to our Asia
business hub for the latest.
This is how the European indexes
look at the start of the trading
day. All of them down a fair amount,
tracking losses in Asia overnight,
Office revolution - we'll talk
to the man who thinks getting
you to stand up at work could be
the key to better health.
Take away coffee, eating out, cinema
treats, we want to know what
luxuries have you cut out to save
Let us know.
Just use the hashtag BBCBizLive.
Hello and welcome to Business Live.
We will get to the environmental
summit in Bonn in a minute
but we want to bring you some
breaking news from Zimbabwe.
Explosions and gunfire have
were heard overnight
in the capital, Harare.
Military vehicles appear
to be on the streets,
but for now the situation
There are even reports
that the Finance Minister is amongst
many people detained.
The Army denied this is a coup. It
hasn't used that phrase. It says it
is targeting criminal elements. So
it is trying to restore order. It
has taken over the crucial TV
station there. One of the main TV
stations and read out a statement,
but they are trying to reassure
people, they said that the
president, they describe him as
their excellency, the President
Robert Mugabe is safe and well. We
will keep across that and we can get
the latest from our correspondent.
Milton Nkosi in Johannesburg.
What we know is that the Zimbabwean
capital is quiet, but tense. There
are troops in particular key areas.
They are guarding government
buildings and the Parliament and
there are reports that there are
troops guarding President Mugabe's
residence. We also know that the
Army made an announcement at 4am
local time this morning and they've
taken over the Zimbabwe broadcasting
corporation building. And explained
quite clearly that this is not a
coup and that the president is safe
and sound together with his family.
Milton, this follows some rather
turbulent political movements in
Zimbabwe. We saw the Vice-President
sensationally sacked suddenly, he is
a long time ally of President Mugabe
and what looked like the positioning
of his wife, Grace Mugabe, as about
to take on the role of
Vice-President, possibly of
potential successor to the
Yes, you are
correct. This seems to be the
trigger of what we have been
witnessing in Zimbabwe in the last
24 hours or so is the idea that
there was some sort of system of
paving the way for President Robert
Mugabe's wife, Grace, to take over
as Vice-President and eventually as
head of state and a lot of the
people in the army, who fought in
the liberation struggle against
white men in order to rule under
Rudisha, feel like a person like the
sacked Vice-President, being sacked,
is redressing those gains that they
made in the liberation struggle.
Milton, thank you. Apologies for the
quality of the sound on the line.
There's also some breaking news
in the aviation industry.
Airbus has just signed a deal worth
$50 billion to supply 430 jets
to an investment company.
It's a huge boost for Airbus
which has been struggling
against its great rival Boeing.
Theo Leggett has joined me.
To say it's huge it almost an under
statement. It is as big a deal as we
In terms of lifts prices
it is the biggest order Airbus has
taken in. Airbus likes to save up
its orders for the air shows and the
Dubai airshow is under way. This is
an order for A320s and A321s. They
are the work horses of the airlines
fleet, they are used by budget
airlines. It is the most recent and
efficient model and it is very, very
important and it helps Airbus get
over one thing which is at the same
time as these aircraft are selling
very well, it has not yet managed to
get a new order for its A380
superjumbo which it was hoping to do
A side track from a
problematic story. Good for Airbus.
Where are they all going? They are
not being bought up by an airline as
No, they are bought up by an
investment company which will lease
them to airlines. The order will be
distributed between four airlines,
so they are aimed at the budget
sector. What is interesting here
though is that Airbus already does
have a very big backlog of jet
orders. It didn't necessarily need
to get new orders in the can except
for reasons of prestige and we will
have to wait and see whether the
size of its backlog now, its back
order book, which is over 6,000,
causes it any problems in the
You have to imagine, Theo,
if you're going to shift 400 plus
aeroplanes, someone is going to get
a good discount out of this?
this headline price of $50 billion.
In fact, it will be substantially
below that because of the size of
the order. So, often when we get the
orders, they are not actually at
OK, Theo, thank you
very much indeed.
Let's take a look at some of
the other stories making the news.
The Venezuelan government says it
has begun repaying interest
on its foreign debt after two major
credit ratings agencies said
the country had partially defaulted.
In a televised address,
the communications minister
Jorge Rodriguez also said
the government is renegotiating
all of its foreign debt.
Taiwan's Foxconn, the world's
largest contract electronics
manufacturer, saw quarterly profit
slide 39% - a result
far below estimates.
It's been widely attributed
to production issues
for Apple's iPhone X.
The product has been a success,
but has faced a string
of production hurdles centered
on new technologies and features.
Japan's economy has logged
its longest period of growth
in more than a decade.
Data out this morning shows
the world's third largest
economy posting yet another
quarter of gains.
Leisha Santorelli is in Singapore.
So, some pleasant surprises there.
Was it what was expected?
better than expected, Benl. So seven
straight quarters of economic growth
is an impressive feat not just for
the Japanese government, but for
analysts. A lot of the credit goes
to Prime Minister Shinzo Abe. Let's
recap the numbers. Preliminary GDP
rose by an annualised rate of 1.4%
in the third quarter which as I said
beat market forecasts and this was
due to a big jump in exports. Now,
this has to do with the weakening
Japanese yen and there is greater
demand from overseas of Japanese
made cars and machinery and other
goods. There was a negative point
from today's data and that was the
fact that consumers spending fell,
but Japan's economy minister said
this was due to the effects of bad
weather. So it is probably just a
seasonal blip. Looking forward
though, Japan's economy does face
serious structural problems. This
includes a rapidly ageing and
shrinking population and so all eyes
are now on how Mr Abe and his
government plan to say tackle that
and he is expected to unveil a
multi-trillion yen economic stimulus
package by the end of the year.
Thank you very much.
Asian stocks tumbled on Wednesday
after a weaker crude oil price took
a toll on Wall Street. They tracked
the losses. The euro kept big gains
after enjoying a boost from some
robust economic growth data out of
Germany. A batch of data from China,
that is Australia's biggest export
market, showed the economy cooled
further with industrial output,
fixed asset investment and retail
sales missing expectations. You can
see the impabt of that. All three
major stock indexes dipped on
Tuesday. As Again Electric plunged
for a second straight day.
And Samira Hussain has
the details about what's ahead
on Wall Street Today.
On Wednesday the US Labour depth
will report on the growth of
consumer prices in October.
Economists expect that consumer
prices will have moved up 0.2%
compared to 0.1% in September. Now,
these numbers known as CPI is a qe
measure of inflation. Two companies
reporting earnings that are worth
mentioning. Sisco Systems will
report a fall in revenue. Now it is
being hurt by continuing declines in
its traditional business of making
switches and routers and Target will
likely report a boost in sales as
the retailer has been launching
private label brands ahead of the
holiday season. In investors will
have a keen ear for any news on
sales going forward as the company
faces fierce price competition.
Joining us is David Buik
from Panmure Gordon.
A lot of data out today, European
Following through more
from yesterday we had the inflation
number coming in and confirm at 3%
with some sort of confirmation
that's about the top of it because
when the value of the pound against
the dollar fell from 150 at the
stroke of a pen or a heartbeat on
23rd June last year down to 125, it
was going to take some months before
inflation come up from 0.5% which is
where it was then to 3%. We
genuinely believe that now this is
ironed through and we seem to have
found a level of 130 against the
dollar and whether that can be
maintained with the political
weakness of the Government remains
to be seen. If it can, the general
feeling is that inflation will be
nearer 2% than 3% than by the middle
of 2018. What came in which was
unhelpful in terms of the UK economy
was growth rates. Europe is really
flying, 2.5% against the United
States at 2.3%. And the UK at 1.5%.
The UK is down in my opinion through
lack of confidence and lack of
investment as a result of Brexit
obviously. And also the fact that we
have a very weak government that
seems to be having some problems
organising things in a manner that
brings things to a sensible
conclusion. What's driven it very
well, of course, is Germany which is
up 0.8% and that on an annualised
rate was 3.5% and France and Italy
doing very well, whereas we seem to
David, thank you
very much indeed.
Still to come, is standing up
in the office the key
to better workplace health?
We'll talk to the man
who thinks the answer is yes.
You're with Business
Live from BBC News.
House-builder Barratt has given
a first-quarter update on the back
of mostly positive recent reports
from its rivals.
Let's get more from our business
correspondent Theo Leggett.
Let's get more from Philip
Hampshire. How are they doing?
are doing well. They have seen an
8.4% rise in their sales come
through, that's a significant lift
for them. It takes them to £2.88
billion worth of sales, Barratt
Homes, of course, is one of the
national based developers. They are
not one the regional based companies
based in London like Barclay Homes
so they have managed to escape the
slowdown there have been in sales
within the metropolitan district by
spreading themselves nationally
around the country. They are
concentrated in the lower end and
the mid-end of the market place and
where we have seen a cooling off in
the UK housing market is in
extremely high value properties,
anything worth over £1.5 million.
So, Barratt really seems to have
managed to have threaded the needle
Philip, how are the markets
Well, the markets don't
seem to be taking it so well. It is
very early days right now. If we
have a look at this. This is the
share price of Barratt over the
course of the last three days. You
can see that they had a light up
come through to where the earnings
came out, but in the early part of
trading so far, they are down by 1%,
taking their shares to 6.21.5, that
does belie the picture course of the
last 12 months. If you look back
over the last year, you would have
have seen Barratt Homes share price
up by 33%. People have been talking
about the prospect of a bubble, of
there being too much money in the
British housing market for many,
many years now. So you might be
surprised to see home builders have
gone some of the best performing
stocks in the market place over the
course of the last 12 months and
Barratt has been no exception to
Philip, thank you very much. Philip
Hampshire for us in our business
There is more on all the stories on
our Business Live page. It is
updated throughout the day. On there
right now, a couple of stories to
pick out. TalkTalk falls into the
red during the six months to 30th
September. It reporteded a pre-tax
loss of £75 million, that's compared
to a profit last year. It seems
Angel Delight is back in fashion! It
helped Premier Foods rise.
You're watching Business Live -
a record-breaking deal is announced
in the aviation industry.
Airbus signs a record-breaking
deal worth $50 billion
to supply 430 aircraft.
Is sitting really the new smoking?
Spending too much time
on our posteriors has been described
by some as a disease -
encouraging sedentary lifestyle
habits which cause poor health.
In fact, it's been suggested that
3.2 million people each year die
because of physical inactivity.
One area of focus has
been our working spaces.
Sales of so-called standing
desks have soared -
and are projected to reach
$2.8 billion by 2025.
But the research is far from clear.
One study analysed the amount
of time people spent sitting -
and found it didn't make
death more likely.
Joining us now is Pete Segar,
the boss of Ergotron.
His company designs
and builds sit-stand desks.
You're not exactly a Johnny come
lately, either. We are hearing about
it now but you have been around a
That's right. We were founded
in 1982 by a gentleman named Harry.
He was a salesman and he had
actually sold the first electronic
reservation systems to American
Airlines. He went into his account
and he found employees hunched over
their computers developing back
injuries and neck injuries and
duplicate nice it is a fundamental
problem with computers. They're not
made for the human body and he
founded the company as a result. We
have broadened it to all elements of
health and productivity for computer
Some people will say this is
a bit of a fad and people way will
say things like it will come and go
and then we will revert to what we
have been used to - are you seeing
that at all that people try them and
then always use them in the seating
You know, there's
different levels of adaption by
people who get these desks. But we
have done a number of independent
studies which have shown that users
of sit-stand desks report greater
comfort, less lower back and neck
pain. They also report feeling more
alert, more attentive, more
productive at work. So, these are
things that people are looking for.
So, we actually see people using
their sit-stand desks.
I think the
message is loud and clear - we
should be doing more. It is not
good-looking stuff, is it, though?
It is clunky gear?
Well, it may
start that way. What happens is at
the very beginning, the first
products might be a bit more
utilitarian, but as we progress
we're making the products
aesthetically pleasing, fitting
better with the modern office and
There was one
person I met recently, a director at
the Science Museum, who has a
treadmill in his office with a desk
on top of the treadmill - is that
where we're going? Is that the kind
of push that you would like to see?
You know, no. It might be a surprise
to you, while a treadmill does
promote activity and discover some
great to use one at work, it also
negatively impacts your ability to
type accurately and it does not help
your computer productivity. I think
a model which really makes sense is
to have a few shared use treadmills
that can be used for example by
One reason I referred to
the treadmill is, we are told about
sitting for too long is not good for
you, we get that, but an awful lot
of us now also take it upon
ourselves to get out and go to the
gym, to fitness after work or before
work, we're finding ways to fulfil
the need to exercise?
That is one of
the real big surprises in the
research that has recently come out.
We all felt that 30 minutes of
vigorous exercise would be all we
need for cardiovascular health. The
recent research is saying, no, it's
actually periods of long inactivity,
sitting still for more than 30
minutes, is also damaging. And you
just need to move.
I hope it is not
a generational thing, but you quite
like standing up, don't you?! I love
sitting down! I'm much more
comfortable this way so it takes a
bit of persuasion! So I guess, is
there any sort of kit which gets you
moving without having to be on your
feet all day, especially if you've
got flat feet?
Really the key is
moving between positions, frequently
moving. You don't have to stand.
Walking, standing meetings, all
sorts of things which introduce some
level of activity into what is
currently a sedentary activity.
interested where your biggest
markets are, where do you see most
interest and where do you see your
company growing in the future?
we see strong growth in Australia,
New Zealand, Europe and also the
Americas, is where we have the
strongest growth today.
presumably, you're talking about
double-digit growth, what are your
hopes for the next decade?
hope for more than that but I think
double-digit will continue, and part
of the reason is, it does take a
while to change people's lifestyles.
We will see how it goes. Pete Segar,
thank you very much for joining us.
I don't have a standing desk but
what I'd try and do is joke and yet
the teas and coffees. -- go and get
the teas and coffee is.
Let's see what other
stories are being talked
about on social media.
We were talking about TalkTalk on
the Business Live page. In a moment
we will go through some of your
tweets and a couple of the other
stories as well.
But first, here's a quick reminder
of how to get in touch with us.
The Business Live page is where you
can stay ahead with all the latest
business news from the BBC's team of
editors right around the world. And
we want to hear from you, too. Get
involved on our web page. You can
find us on Twitter and on Facebook
at BBC business news. Business Live,
on TV and online, whenever you need
Joining us is David Buik
from Panmure Gordon.
We were talking about this idea that
one estate agent estimate that
millennials could save vast sum
towards a deposit on a house by just
cutting out little daily luxuries?
think this is true. When I look at
myself in the mirror I shudder to
think how much I spend on coffee in
a year but it has got to be
£2000-£3000 for the whole family.
The young, of course, have changed
their culture enormously. They have
changed away from buying clothes and
any kind of sartorial elegance, a
razor blade is a real shock to the
system to a young person!
I have no
idea what you're talking about!
jeans rather than a suit and people
want to spend money going out and
having a good time and on holidays.
So, they have to make up their mind
what they want to. What is suggested
that apparently over five years you
could save $84,000...
I was only
quoting! Anyone who sees me walking
in will see I always have a takeaway
coffee in my hand!
If I may say so,
you're exceptional because you're
sartorial elegance! Most people
don't! They want to have a good time
and they want to have good holidays.
But get real, if you're always
complaining about you can never get
on the housing ladder, you have to
put in some kind of economy.
pays your money...
You takes your
We have been asking for your
tweets on this. Loads of responses.
This one says, I take buses instead
of the tube. This one says she has
cut back on the internet. She uses
public why five and has also cut
back on TV, car, heating... I
wouldn't say those were luxuries!
And this one says using a reusable
bottle of water, I don't drink
coffee or go to the cinema any more.
Thanks for sharing those little
suggestions with us.
interesting story which is very
close to home for us in as much as
Bond Street is now a more expensive
place to rent for a shop than the
That's right, it is
now number three in the pecking
order. But there is a real danger
behind this. Just so that viewers
can understand, New York is still
the most expensive, fifth Ave,
Madison, places like that, $3000 per
square foot. Hong Kong is second,
London third, followed by Milan and
Paris. However, I throw caution to
the wind - how long are these rates
going to be allowed to be
maintained, with the internet and
online sales increasing every single
day? I doubt that there will be...
May be the crown jewels still have
that in a way that the provincial
You've got the
answer. Absolutely, it is a
That's it from Business Live today.
There will be more business
news throughout the day
on the BBC Live webpage,
and on World Business Report.
We'll see you again tomorrow.