0:00:07 > 0:00:09Hello there.
0:00:09 > 0:00:12This is Business Live from BBC News with Alice Baxter and Ben Bland.
0:00:12 > 0:00:15Tesla has launched its first electric truck that can accelerate
0:00:15 > 0:00:17to 60 miles per hour in just five seconds.
0:00:17 > 0:00:22Live from London, that's our top story on Friday, 17th November.
0:00:39 > 0:00:40Yes, Tesla unleashes the Beast.
0:00:40 > 0:00:42But will the electric truck transform road transport,
0:00:42 > 0:00:46or prove too heavy a load for the company?
0:00:47 > 0:00:51Plus, tax relief for President Trump - as his $1.5 trillion reform plan
0:00:51 > 0:00:58clears the House of Representatives.
0:00:58 > 0:01:07But it could be short-lived as the debate moves to the Senate.
0:01:07 > 0:01:09And global stocks rebounding at the end of the week as investors
0:01:09 > 0:01:11snapped up bargains after the recent sell-off, encouraged
0:01:11 > 0:01:14by solid quarterly earnings reports on Wall Street.
0:01:18 > 0:01:20And we'll be getting the Inside Track on Donald Trump's
0:01:20 > 0:01:23tax plans, plus what is happening in Saudi Arabia with our business
0:01:23 > 0:01:24editor, Simon Jack.
0:01:24 > 0:01:27And it's being reported that scientists have sent a secret
0:01:27 > 0:01:31message to reach alien life elsewhere in the universe.
0:01:31 > 0:01:34Today we want to know - what would you ask or say to any
0:01:34 > 0:01:35extra-terrestrials out there?
0:01:35 > 0:01:38Just use the hashtag BBCBizLive.
0:01:50 > 0:01:53Du Toit in and let us know you're out of the world responses.
0:01:53 > 0:01:56We start in California, where in the last few hours
0:01:56 > 0:01:59electric car maker Tesla has unveiled its latest venture.
0:01:59 > 0:02:05Founder Elon Musk hopes to take on the road transport business
0:02:05 > 0:02:08as he has the car industry - with an electric powered truck
0:02:08 > 0:02:09called the Tesla Semi.
0:02:09 > 0:02:13Dave Lee was at the launch.
0:02:14 > 0:02:18This is the new Tesla semi.
0:02:20 > 0:02:24It will travel 500 miles on a single charge
0:02:24 > 0:02:29and Elon Musk thinks it will make electric the new king of the road.
0:02:29 > 0:02:31The thing that looks like it's not moving...
0:02:31 > 0:02:34Is a diesel truck.
0:02:36 > 0:02:38But he has been under a lot of pressure
0:02:38 > 0:02:39lately.
0:02:39 > 0:02:43His company isn't yet making cars quickly enough to meet demand
0:02:43 > 0:02:47and so this new truck could be another distraction
0:02:47 > 0:02:49for the man who also dabbles in space travel.
0:02:49 > 0:02:51Tesla's definitely taking some serious
0:02:51 > 0:02:52issues on the manufacturing side.
0:02:52 > 0:02:55Model 3 delivery is measured in hundreds when they're supposed to be
0:02:55 > 0:02:56producing thousands every week.
0:02:56 > 0:03:00That is a huge issue.
0:03:00 > 0:03:03But the truck wasn't to be the only new vehicle on show here
0:03:03 > 0:03:06tonight.
0:03:09 > 0:03:12So the Tesla fans that came here certainly expected to see a
0:03:12 > 0:03:15lorry, what they weren't expecting to see was a new Roadster and that
0:03:15 > 0:03:25got this crowd excited.
0:03:30 > 0:03:35So it turns out there was some cargo in the truck...
0:03:35 > 0:03:39For fans an exciting One More Thing, but for Tesla's investors it is just
0:03:39 > 0:03:40one more thing.
0:03:40 > 0:03:43Anna-Marie Baisden, Head of Autos at BMI Research, is with me.
0:03:43 > 0:03:48The first thing you think, as trucks go, that is pretty good-looking. It
0:03:48 > 0:03:53is an odd description, but it is very aesthetically well-designed.
0:03:53 > 0:03:57Absolutely, and this is what Tesla has been doing all along, making
0:03:57 > 0:04:00elective products attractive in their own right, you are not just
0:04:00 > 0:04:04buying them for the alternative fuel, you are buying them because
0:04:04 > 0:04:08they are attractive products.But do you think those who it is targeted
0:04:08 > 0:04:12at, big haulage companies, will be swayed by that, or will they focus
0:04:12 > 0:04:18on the cost? The reports are the battery alone will cost $100,000.
0:04:18 > 0:04:22Absolutely, you target business very differently to consumers. Consumers
0:04:22 > 0:04:25you can win over with design and aesthetics, but it is about the
0:04:25 > 0:04:29bottom line for haulage companies, and the cost is definitely a top
0:04:29 > 0:04:35priority.The other aspect is the range, how far these trucks can
0:04:35 > 0:04:41travel, and it was a surprise, wasn't it?Yes, 500 miles on a
0:04:41 > 0:04:45single charge, that was definitely a surprise, and a positive one,
0:04:45 > 0:04:48because that is something else you want to take into account if you are
0:04:48 > 0:04:51running a haulage business.And the other thing Tesla has to be very
0:04:51 > 0:04:56aware of is competition. It was once the only, or one of the big names in
0:04:56 > 0:05:00the field, it still is, but competition is snapping at its
0:05:00 > 0:05:07heels. You have Volvo launching a driverless truck in Beijing, the
0:05:07 > 0:05:09market is so competitive now. They have just got to keep innovating,
0:05:09 > 0:05:16and quickly.Absolutely, and you have some of the real big names in
0:05:16 > 0:05:22the Class 8 segment, like Daimler, they have their models out there,
0:05:22 > 0:05:26and if anything it could be a little late to the electrification of
0:05:26 > 0:05:29commercial vehicles, which is quite unusual for them.What about the
0:05:29 > 0:05:31infrastructure in place to facilitate the launch of these sorts
0:05:31 > 0:05:39of vehicles? That is one of the biggest stumbling blocks.Again, and
0:05:39 > 0:05:43that is more of a concern to fleet drivers than commuters, because they
0:05:43 > 0:05:46need to travel long distances in a certain amount of time, so that is a
0:05:46 > 0:05:51big concern to them.Really good to talk to you, thank you very much for
0:05:51 > 0:05:53joining us.
0:05:55 > 0:05:58Let's take a look at some of the other stories making the news.
0:05:58 > 0:06:01There have been more takeover approaches for media giant
0:06:01 > 0:06:0221st Century Fox.
0:06:02 > 0:06:04According to reports Comcast, owner of NBC Universal
0:06:04 > 0:06:07and the biggest cable TV operator in the US - has expressed
0:06:07 > 0:06:10interest in buying assets, as has Verizon Communications.
0:06:10 > 0:06:15Last week it emerged that Walt Disney had held talks with Fox.
0:06:15 > 0:06:17Media companies are looking at mergers as more people ditch
0:06:17 > 0:06:21cable in favour of streaming services like Netflix.
0:06:23 > 0:06:28Gap shares jumped nearly 8% after-hours.
0:06:28 > 0:06:31The US clothing retailer raised its outlook for 2017 profit
0:06:31 > 0:06:36and reported same-store sales ahead of analysts' expectations.
0:06:36 > 0:06:38The company has been investing to upgrade its offering
0:06:38 > 0:06:40for customers, and it's paying off.
0:06:42 > 0:06:45And German industrial group Siemens has announced plans to cut around
0:06:45 > 0:06:506,900 jobs worldwide - mostly in its fossil fuels division.
0:06:50 > 0:06:52It said global demand for large turbines produced
0:06:52 > 0:06:57by its power and gas division had fallen dramatically.
0:06:57 > 0:07:00Half of the jobs will be lost in Germany, while 1,100 will go
0:07:00 > 0:07:07in the rest of Europe and 1,800 in the US.
0:07:12 > 0:07:16Don't forget there's always plenty of business News updated throughout
0:07:16 > 0:07:22the day on our website, on the Business Live page. On there right
0:07:22 > 0:07:27now, Nissan executives are likely to return a part of their pay over the
0:07:27 > 0:07:30quality-control scandal. Shares in Nissan have risen on that news. You
0:07:30 > 0:07:34can read more about that as I say the website. Always lots on the
0:07:34 > 0:07:36website.
0:07:36 > 0:07:39Let's go to India now - and credit ratings agency Moody's
0:07:39 > 0:07:41has given Prime Minister Modi a major boost.
0:07:41 > 0:07:43It has upgraded India's sovereign rating for
0:07:43 > 0:07:46the first time in 14 years - citing the government's continued
0:07:46 > 0:07:50progress in economic reform.
0:07:50 > 0:07:56That has sent the rupee and Indian stocks sharply higher
0:07:56 > 0:08:06Let's cross live now for more on this. Watmore have you got?Well,
0:08:06 > 0:08:14Moody is has cited the structural and economic reforms that have been
0:08:14 > 0:08:17initiated by Prime Minister Modi's government in the last few years,
0:08:17 > 0:08:20the new national goods and services stacks, and they have also announced
0:08:20 > 0:08:24recently that they will be in jet to fresh capital in public owned banks
0:08:24 > 0:08:28which have been struggling due to bad debts, and that has been having
0:08:28 > 0:08:32a severe impact on the economy. Last year they had also cracked down on
0:08:32 > 0:08:40the black economy, black money, rather, by banning the illegal
0:08:40 > 0:08:44currency that was in circulation. So Moody is has appreciated the steps
0:08:44 > 0:08:48and say it will benefit the economy in the long run, so they are calling
0:08:48 > 0:08:55this an early Christmas gift from Prime Minister Modi, considering the
0:08:55 > 0:08:58economy had slowed down due to these measures in the last few months.
0:08:58 > 0:09:02Thank you. So India's stock market and currency getting an early
0:09:02 > 0:09:07Christmas gift. Let's stay in the region now.
0:09:07 > 0:09:10Other Asian shares clawed back most of their weekly loss after rising
0:09:10 > 0:09:15firmly on Friday on some strong Wall Street earnings and a step
0:09:15 > 0:09:19Also the dollar fell after the Wall Street Journal reported
0:09:19 > 0:09:22So in Japan, the Nikkei gained 0.2% extending its recovery
0:09:22 > 0:09:24from a near three-week intraday low hit on Thursday.
0:09:24 > 0:09:26But it's still down 1.3% for the week, snapping
0:09:26 > 0:09:28its nine-week gaining streak.
0:09:28 > 0:09:36Here in Europe, stocks are mixed at the open.
0:09:36 > 0:09:41The largest influence on markets all around the globe today is President
0:09:41 > 0:09:46Trump's plans for a shake-up of the US tax system taking a step forward
0:09:46 > 0:09:51on Thursday.
0:09:51 > 0:09:54He says they will boost the US economy - but critics
0:09:54 > 0:09:56on the Democrat side call them a give-away to big
0:09:56 > 0:09:57business and the wealthy.
0:09:57 > 0:09:58Samira Hussain has the details.
0:09:58 > 0:10:02Taxes - Americans don't like paying them and most agree that the tax
0:10:02 > 0:10:04system is broken, but fixing it, well, that ain't easy.
0:10:04 > 0:10:06The President says he wants a tax system that's so
0:10:06 > 0:10:10easy you could file it on a postcard.
0:10:10 > 0:10:13Now the Republican Party has control of the US Congress and that
0:10:13 > 0:10:16means they could pass a new tax plan with just a simple majority.
0:10:16 > 0:10:19If there's anything that unifies Republicans, it is tax reform.
0:10:19 > 0:10:22We have been looking for the opportunity to do this
0:10:22 > 0:10:25literally for years.
0:10:25 > 0:10:26The problem?
0:10:26 > 0:10:28Republicans can't even agree on a tax plan
0:10:28 > 0:10:33amongst themselves.
0:10:33 > 0:10:35Law-makers want to cut the number of tax brackets to
0:10:35 > 0:10:38four and cut back just how much people can write off
0:10:38 > 0:10:41for having a mortgage.
0:10:41 > 0:10:45The Senate plan removes the tax Americans pay if they don't
0:10:45 > 0:10:49buy health insurance, but that means some 13 million Americans could end
0:10:49 > 0:10:52up without any coverage and that plan also makes cuts to the
0:10:52 > 0:10:55corporate tax rate permanent.
0:10:55 > 0:10:57But tax relief for individuals, well, that's just temporary.
0:10:57 > 0:11:00So what do they do now?
0:11:00 > 0:11:04Well, Republicans in the House and Senate will just have
0:11:04 > 0:11:07to combine their two plans, but if the last few months are any
0:11:07 > 0:11:16indication, well, that won't be easy.
0:11:17 > 0:11:19That was Samir Hussein in New York.
0:11:19 > 0:11:20Joining us is Lucy MacDonald, Chief Investment Officer,
0:11:20 > 0:11:26Global Equities, Allianz Global Investors.
0:11:26 > 0:11:30A big week the US earnings, in particular what we could call the
0:11:30 > 0:11:33dinosaurs of the stock indices. There were two yesterday which we
0:11:33 > 0:11:38knew would classify as dinosaurs, Cisco and Walmart, and they both
0:11:38 > 0:11:41came through with numbers better-than-expected. Cisco has not
0:11:41 > 0:11:45really grown its top line for a couple of years, and showed some
0:11:45 > 0:11:48movement in the top line, we are only talking low single-digit is,
0:11:48 > 0:11:55but even so. And that was greeted well. And then Walmart as well, and
0:11:55 > 0:12:00the rest of the retail sector has been under pressure from Amazon. So
0:12:00 > 0:12:05it has been a bit of an electric kettle to get some of the other
0:12:05 > 0:12:08retailers to move their businesses online more. That seems to be
0:12:08 > 0:12:13providing some progress.And moving away from dinosaurs, some other big
0:12:13 > 0:12:19news this week coming out of Norway, trying to move their alliance away
0:12:19 > 0:12:25from oil and gas.They have said that they will divest from the 6% of
0:12:25 > 0:12:33their portfolio, their wealth portfolio, probably next year. And
0:12:33 > 0:12:37it is significant. For them, it is partly because their whole economy
0:12:37 > 0:12:47is very reliant on oil and gas, but I think also underlying it, it is
0:12:47 > 0:12:52that hole bogey of stranded assets, and the value of these assets, which
0:12:52 > 0:12:59had been put really on the back burner for the last few months. So I
0:12:59 > 0:13:02think it will probably put a little bit of a stop to that.We will come
0:13:02 > 0:13:05back and talk to you about the business papers later in the show.
0:13:05 > 0:13:08See you later.
0:13:08 > 0:13:09Still to come:
0:13:09 > 0:13:11Will the US Senate agree to Donald Trump's tax plans?
0:13:11 > 0:13:13Plus, what is happening in Saudi Arabia?
0:13:13 > 0:13:15That's all with our business editor, Simon Jack.
0:13:15 > 0:13:16You're with Business Live from BBC News.
0:13:26 > 0:13:28The building society Nationwide has posted its latest results
0:13:28 > 0:13:31and profits are down for the second period in a row.
0:13:31 > 0:13:32Our business correspondent Theo Leggett joins us
0:13:32 > 0:13:39from the business newsroom with the details.
0:13:39 > 0:13:43What do these figures look like TU? At first glance, they don't look
0:13:43 > 0:13:48great. The second six months in a row in which profits have fallen,
0:13:48 > 0:13:54underlying pre-tax profits dropping to £508 million from £615 million a
0:13:54 > 0:13:58year ago. But you have to bear a couple of things in mind. The
0:13:58 > 0:14:01figures for a year ago were flattered by a 100 year pounds bonus
0:14:01 > 0:14:05from selling off a stake in Visa Europe. Take that out, and in fact
0:14:05 > 0:14:12the company made a profit this time round. Also, nationwide which is a
0:14:12 > 0:14:19mutual building society, it started paying extra money into its
0:14:19 > 0:14:22employees' pension fund, and it also had to set aside a little bit of
0:14:22 > 0:14:25money for bad loans. So overall it is not that bad, these are pretty
0:14:25 > 0:14:31healthy figures.So could there be trouble ahead for nationwide?That
0:14:31 > 0:14:36is what nationwide is warning, yes. It says that there is a great deal
0:14:36 > 0:14:40of competition in the mortgage market, which there is, and
0:14:40 > 0:14:42nationwide is the country's second-largest mortgage provider.
0:14:42 > 0:14:48Funding costs are low because of low interest rates, but margins are low
0:14:48 > 0:14:50as well, what nationwide is saying is that with the competition that is
0:14:50 > 0:14:58coming up ahead, it could feel some pain. Declining consumer confidence
0:14:58 > 0:15:02may hit lending later in the year. That is according to the chief
0:15:02 > 0:15:06executive, nationwide remains financially secure and in very good
0:15:06 > 0:15:09shape.CEO, for now, thank you very much.
0:15:16 > 0:15:28Is plenty more on the web page. The British Prime Minister is in Sweden
0:15:28 > 0:15:35meeting Donald Tusk. She will try to provide more clarity about how the
0:15:35 > 0:15:40UK intends to settle any outstanding payments are due before they begin
0:15:40 > 0:15:47making progress on negotiations about a post-Brexit trade deal. We
0:15:47 > 0:15:51will be following developments there. For the latest log on to the
0:15:51 > 0:15:54web-site.
0:16:01 > 0:16:02You're watching Business Live.
0:16:02 > 0:16:05Our top story: Tesla has launched its first electric truck
0:16:05 > 0:16:09that can accelerate to 60 miles per hour in just five seconds.
0:16:09 > 0:16:13A quick look at how markets are faring.
0:16:19 > 0:16:24A mixed picture here in Europe. That is after a strong session in Asia on
0:16:24 > 0:16:31the back of some good quarterly earnings out from Wall Street.
0:16:31 > 0:16:34And now let's get the Inside Track on the week's top business stories,
0:16:34 > 0:16:38Simon Jack our Business Editor is here to talk about changes to US
0:16:38 > 0:16:41tax policy and why the Saudi government is demanding up to 70%
0:16:41 > 0:16:43of rich detainees' wealth in return for their freedom.
0:16:43 > 0:16:50Donald Trump could have a rocky road ahead in the Senate.This is a major
0:16:50 > 0:16:54plank of Donald Trump's election campaign, everyone agrees the tax
0:16:54 > 0:17:03system is too complicated and we haven't had a tax overhaul since
0:17:03 > 0:17:071986 under Reagan. You have two different plans, one in the House of
0:17:07 > 0:17:11Representatives and one in the Senate. On the corporate side they
0:17:11 > 0:17:19say we will cut corporate tax from 35 to 20%. You would think big
0:17:19 > 0:17:23business would think this is fantastic, but the system is so come
0:17:23 > 0:17:29my Kated that -- complicated that there are all sorts of exemptions
0:17:29 > 0:17:35and you can deduct interest payments, or other deductions for
0:17:35 > 0:17:41individuals and state taxes. It is a big mess. A lot of people say the
0:17:41 > 0:17:46simplification is great, but I don't know where I stand. What I would say
0:17:46 > 0:17:51is is that the costing of this, tax cuts cost money and this will cost
0:17:51 > 0:17:59about one and a half trillion dollars. US debt is already 20
0:17:59 > 0:18:06trillion plus. You remember back in the 80s when Reagan did a tax cut,
0:18:06 > 0:18:12it ballooned the deficit. The idea if people make more money, you
0:18:12 > 0:18:17increase the tax take.Are you surprised by the reaction from
0:18:17 > 0:18:23business, perhaps less surprising is the reaction from the Democrats
0:18:23 > 0:18:28calling it a giveaway to the wealthy.Lobbying groups for big
0:18:28 > 0:18:33business spend millions trying to get concessions. All their plans and
0:18:33 > 0:18:39road map of how to pay less tax will go up in the air. The over all
0:18:39 > 0:18:43picture probably looks good for multinationals. That is one of the
0:18:43 > 0:18:48problems the Democrats say it is a tax cut for the rich. There are some
0:18:48 > 0:18:53tax cuts for individuals and the middle class. But some are temporary
0:18:53 > 0:18:57and some say within ten years middle class family will pay more and rich
0:18:57 > 0:19:03people will be paying less.I want to turn to what is has beening in
0:19:03 > 0:19:11Saudi Arabia and a crackdown on corruption and consolidation of the
0:19:11 > 0:19:17monarchy's power, demanding 70% of these rich detainees' wealth in
0:19:17 > 0:19:23return for freedom.That is an unconfirmed number. I spoke a
0:19:23 > 0:19:30business person who described it as a good old faked shake down -- old
0:19:30 > 0:19:38fashioned shake down, in case you need a reminder of who the boss it.
0:19:38 > 0:19:42The Saudi Arabia budget is running a deficit and that never happens and
0:19:42 > 0:19:47over the years many people have done well, particularly in the good old
0:19:47 > 0:19:53days when oil was over $100 a barrel. The oil price has been low
0:19:53 > 0:19:59and they have a generous state sponsored welfare scheme and a
0:19:59 > 0:20:04growing population. There is a panic there. They're trying to move like a
0:20:04 > 0:20:07whirlwind to reform the economy and they need money fast and these
0:20:07 > 0:20:16people have plenty of it and some of biggest figures in international
0:20:16 > 0:20:21business, a big shareholder in City group. Some are sleeping on the
0:20:21 > 0:20:27floor of Ritz. They can't send them to prison. That would be too
0:20:27 > 0:20:35disruptive, but you have got money, we need money, I'm the boss and
0:20:35 > 0:20:40perhaps when the new king takes over, the new reveal needs money and
0:20:40 > 0:20:45they will knock on the richest people in the country to get it. A
0:20:45 > 0:20:51gold old fashioned shake down.In the UK, we have had reports out this
0:20:51 > 0:20:54week on the state of inflation and the growth, what did you make of it
0:20:54 > 0:21:01all?Well, on the inflation, it was 3%. Which is above target. The Bank
0:21:01 > 0:21:07of England would like to see it at 2%. It is above how much wages are
0:21:07 > 0:21:13going up which is 2.2%. Although we have economic and wage growth, in
0:21:13 > 0:21:16real terms people are getting poorer. That isn't a happy place for
0:21:16 > 0:21:20government to be in and we have the budget next week. It is an important
0:21:20 > 0:21:27part of where the budget will land next week. The growth figures, there
0:21:27 > 0:21:32is some growth, but not spectacular. People are saying it looks softer. I
0:21:32 > 0:21:37think we are near the peak of inflation, because after the
0:21:37 > 0:21:42referendum, sterling fell and all imports are more expensive and we
0:21:42 > 0:21:47import more than we export. Some of the effects are filtering out. That
0:21:47 > 0:21:51was over a year ago and that big increase is working its way through
0:21:51 > 0:21:57the system. We could be at or near the peak of the inflation cycle
0:21:57 > 0:22:02here.Thank you. All highs on Philip Hammond next week. Have a good
0:22:02 > 0:22:11weekend.
0:22:11 > 0:22:14In a moment we'll take a look through the Business Pages,
0:22:14 > 0:22:17but first here's a quick reminder of how to get in touch with us.
0:22:17 > 0:22:22We have the latest details from the BBC's team around the world. And we
0:22:22 > 0:22:29want to hear from you too. Get involved on the BBC Business Live
0:22:29 > 0:22:37web page. On Twitter we are at BBC Business and we are on Facebook.
0:22:48 > 0:22:55Were going to talk about other stories. The report that scientists
0:22:55 > 0:23:01have been sending out a secret message to try and reach life in
0:23:01 > 0:23:06other parts of universe. They don't expect a reply for at least 25
0:23:06 > 0:23:10years. We have been asking for your tweets, what message would you send
0:23:10 > 0:23:15and what question would you ask. Quite a range of responses.We have
0:23:15 > 0:23:20had a lot of responses.Bob says call in for a cup of tea and
0:23:20 > 0:23:26biscuit. Another say, just the one word - help.Jane said, what is the
0:23:26 > 0:23:34answer to everything.Karen - get me out of here.And hey Mr Spaceman
0:23:34 > 0:23:42would you take me along for a ride? I think that is a song lyric. Lucy,
0:23:42 > 0:23:49what would you say to extra terrestrial.I ask if wanted any of
0:23:49 > 0:23:55our debt.Enough of that. Let's talk about business news back here on
0:23:55 > 0:24:09earth. The FT if I can find it, reporting that come cast and High
0:24:09 > 0:24:15Horizon have approached 21st Century fox to buy its assets.They have
0:24:15 > 0:24:19consolidation and integration in the entertainment industry as a result
0:24:19 > 0:24:24of the disruption from Netflix. That is ongoing and will continue. It is
0:24:24 > 0:24:33a valid response when you get this sort of disruptive activity and you
0:24:33 > 0:24:38have consolidation of Murdoch assets and the thoughts they may be
0:24:38 > 0:24:41thinking about going private. So those are the two things which have
0:24:41 > 0:24:46happening. It is following on from Disney, the approach we have had. So
0:24:46 > 0:24:51this is going to run and run.This is a sign of the times, this shift
0:24:51 > 0:24:56in our viewing habits and people wanting to end their cable contracts
0:24:56 > 0:25:03and preferring to stream online.Yes it is a change driven by technology
0:25:03 > 0:25:10and the response is to strengthen their position either vertically or
0:25:10 > 0:25:15in this case horizontal of getting them all together.We saw
0:25:15 > 0:25:20discussions with Disney expressing an interest, if a giant like Disney
0:25:20 > 0:25:25is looking at it, these are big moves?Yes and they're very large
0:25:25 > 0:25:31companies, because they're very old companies and also they're led by in
0:25:31 > 0:25:41many cases... Men in their 70s and 80s and there is an end of era feel.
0:25:41 > 0:25:48End of a programme feel, end of a week feel. Lucy Macdonald thank you,
0:25:48 > 0:25:52have a lovely weekend. We have so many tweets, we will look through
0:25:52 > 0:25:58them. Thanks for watching and have a great weekend. See you again soon.