Browse content similar to 20/11/2017. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News
with Jamie Robertson | 0:00:04 | 0:00:07 | |
and Sally Bundock. | 0:00:07 | 0:00:09 | |
Uncertainty with a capital U -
what now for Chancellor Angela | 0:00:09 | 0:00:11 | |
Merkel after talks to form
a coalition government | 0:00:11 | 0:00:13 | |
in Germany collapse? | 0:00:13 | 0:00:15 | |
Live from London, that's our top
story on Monday, 20th November. | 0:00:15 | 0:00:25 | |
Could fresh elections be
on the cards in Germany at a time | 0:00:36 | 0:00:40 | |
when the EU needs strong leadership
more than ever? | 0:00:40 | 0:00:44 | |
Also in the programme -
bye-bye after Brexit - | 0:00:44 | 0:00:48 | |
two important EU agencies currently
in London will have to find | 0:00:48 | 0:00:51 | |
a new home now that the UK
is leaving the EU. | 0:00:51 | 0:01:01 | |
Turning waste into treasure -
we'll hear from one company that | 0:01:05 | 0:01:08 | |
uses leftovers to make luxury goods. | 0:01:08 | 0:01:16 | |
Would you buy upcycled goods? | 0:01:16 | 0:01:17 | |
Do you reinvent things that
you don't use any more? | 0:01:17 | 0:01:20 | |
Let us know - use
the hashtag BBCBizLive. | 0:01:20 | 0:01:30 | |
Hello and welcome to Business Live. | 0:01:31 | 0:01:34 | |
The euro fell against major
currencies on Monday as coalition | 0:01:34 | 0:01:40 | |
talks in Germany collapsed,
throwing Angela Merkel's future | 0:01:40 | 0:01:42 | |
into doubt and creating uncertainty
in Europe's largest economy. | 0:01:42 | 0:01:45 | |
Eight weeks of negotiations
following September's | 0:01:45 | 0:01:55 | |
general election fell apart, | 0:02:03 | 0:02:06 | |
with the centrist Free
Democrats, led by Christian | 0:02:06 | 0:02:10 | |
Lindner, pulling out. | 0:02:10 | 0:02:11 | |
It leaves Angela Merkel with few
options given her stated objections | 0:02:11 | 0:02:14 | |
to ruling as a minority government. | 0:02:14 | 0:02:15 | |
Later Mrs Merkel will meet
the German President Frank-Walter | 0:02:15 | 0:02:17 | |
Steinmeier who could call
a new election. | 0:02:17 | 0:02:19 | |
Jenny Hill is in Berlin for us. | 0:02:19 | 0:02:21 | |
What went wrong with the
negotiations? It was always going to | 0:02:21 | 0:02:24 | |
be tricky bringing together these
three very different political | 0:02:24 | 0:02:27 | |
groupings, Mrs Merkel's
Conservatives, the Green Party, with | 0:02:27 | 0:02:30 | |
their environmental stance, and the
Free Democrats, the pro-business | 0:02:30 | 0:02:35 | |
party. The main sticking points are
immigration and refugee policy, but | 0:02:35 | 0:02:41 | |
also environmental policies, warmer
with a lot of toing and froing over, | 0:02:41 | 0:02:44 | |
for example, coal powered energy
production in Germany. They are very | 0:02:44 | 0:02:49 | |
disparate parties. But there was a
sense that the leaders of those | 0:02:49 | 0:02:55 | |
parties were' somewhat. There was an
element of theatre to the | 0:02:55 | 0:03:00 | |
proceedings. Germany has been very
surprised that Christian Lindner's | 0:03:00 | 0:03:03 | |
decision to pull out of the talks,
particularly as bit by painful bit, | 0:03:03 | 0:03:10 | |
compromises were slowly eking out.
There was a sense that a bit more | 0:03:10 | 0:03:13 | |
talking could have resulted in a
coalition government. It wasn't to | 0:03:13 | 0:03:18 | |
be, and Germany now faces a crisis
which is unprecedented in post-war | 0:03:18 | 0:03:20 | |
German politics and may represent
the end of the Merkel era. So a lot | 0:03:20 | 0:03:28 | |
of uncertainty this morning, which
of course spreads well beyond | 0:03:28 | 0:03:32 | |
Germany and not just economically.
Mrs Merkel was not at a summit of EU | 0:03:32 | 0:03:37 | |
leaders in Sweden last week. She was
sat at the negotiating table. To | 0:03:37 | 0:03:41 | |
date she has cancelled a planned
meeting with the Dutch leader. She | 0:03:41 | 0:03:45 | |
is going to have to focus now on
domestic affairs and fight for her | 0:03:45 | 0:03:50 | |
own political survival. That will
have implications across Europe, | 0:03:50 | 0:03:53 | |
perhaps even the rest of the world. | 0:03:53 | 0:03:58 | |
Simon Derrick is Chief Markets
Strategist at the Bank | 0:03:58 | 0:04:00 | |
of New York Mellon. | 0:04:00 | 0:04:04 | |
You were listening to Jenny
outlining what went wrong and what | 0:04:04 | 0:04:09 | |
this means. She said it is very
uncertain as to what happens next. | 0:04:09 | 0:04:16 | |
When you look at how markets
reacted, one of the big stories this | 0:04:16 | 0:04:20 | |
year has been market concerns about
the rise of populism within Europe | 0:04:20 | 0:04:26 | |
and specifically around the
elections. We had the French | 0:04:26 | 0:04:30 | |
presidential election, the Dutch
general election. There are concerns | 0:04:30 | 0:04:32 | |
about the Italian general election
coming up. In a lot of ways, the | 0:04:32 | 0:04:36 | |
German election was seen as being
the safety. Even when FT came in and | 0:04:36 | 0:04:41 | |
won their 13%, Angela Merkel was
still seen as being the safe leader. | 0:04:41 | 0:04:46 | |
The uncertainty that is now being
thrown in by the lack of a coalition | 0:04:46 | 0:04:52 | |
being formed will obviously focus
people back on politics. What about | 0:04:52 | 0:04:56 | |
the effect on the Eurozone? Germany
has dominated the way we have gone | 0:04:56 | 0:05:02 | |
through the Eurozone crisis in terms
of the periphery countries like | 0:05:02 | 0:05:08 | |
Greece, Portugal and Spain. Do you
think that relationship will change, | 0:05:08 | 0:05:13 | |
because they have been so strict
about no forgiveness of their debt? | 0:05:13 | 0:05:17 | |
It's good. It depends on the nature
of the government that comes in. If | 0:05:17 | 0:05:21 | |
we have something that is more
right-leaning and fiscally steer, | 0:05:21 | 0:05:24 | |
they could prove to be even harsher
on some of those peripheral | 0:05:24 | 0:05:29 | |
countries. Even if we end up with
parties which are more centrist, | 0:05:29 | 0:05:34 | |
they may be more relaxed. But the
Eurozone crisis has been going for | 0:05:34 | 0:05:40 | |
seven years. Nobody wants to rock
the boat at this point. And what | 0:05:40 | 0:05:44 | |
does it mean for the other issues
regarding Brexit? We have the summit | 0:05:44 | 0:05:49 | |
next month. We have Theresa May and
her cabinet meeting today, and we | 0:05:49 | 0:05:55 | |
are told they will discuss a better
divorce Bill. If a new election is | 0:05:55 | 0:06:02 | |
called in Germany, do you think that
would delay? At the moment, we still | 0:06:02 | 0:06:08 | |
have this drive by all the
leadership towards this negotiation | 0:06:08 | 0:06:11 | |
position. It is diving towards
getting the divorce Bill sorted out. | 0:06:11 | 0:06:22 | |
It is unlikely to derail things
immediately. But if we have a new | 0:06:22 | 0:06:26 | |
government coming in, maybe they
will have a different view. If it | 0:06:26 | 0:06:29 | |
was more populist intone, maybe they
would be more against Brussels and | 0:06:29 | 0:06:36 | |
everything that accompanies that.
Simon, you will return. He has more | 0:06:36 | 0:06:41 | |
stories to get his teeth into later. | 0:06:41 | 0:06:44 | |
Let's take a look at some of
the other stories making the news. | 0:06:44 | 0:06:47 | |
Toshiba shares fell sharply
after board members approved a plan | 0:06:47 | 0:06:49 | |
to raise more than $5 billion
by issuing new shares. | 0:06:49 | 0:06:52 | |
It will help plug a hole
in its finances left by its bankrupt | 0:06:52 | 0:06:55 | |
US nuclear subsidiary and avoid
being delisted in Tokyo. | 0:06:55 | 0:07:02 | |
It's an important day for Brexit
negotiations with UK | 0:07:02 | 0:07:07 | |
Prime Minister's cabinet to discuss
an improved divorce bill. | 0:07:07 | 0:07:13 | |
Brussels says Britain's offer
to settle outstanding financial | 0:07:13 | 0:07:15 | |
commitments to the EU is needed
to unlock trade talks. | 0:07:15 | 0:07:18 | |
A deadline set by Zimbabwe's ruling
party for President Robert Mugabe | 0:07:18 | 0:07:21 | |
to resign or face impeachment
is just hours away. | 0:07:21 | 0:07:26 | |
Mr Mugabe gave an extraordinary
television address in which he was | 0:07:26 | 0:07:28 | |
expected to give details of how
he would stand down. | 0:07:28 | 0:07:32 | |
But instead, the 93-year-old said
he would lead next month's congress | 0:07:32 | 0:07:35 | |
of the ruling Zanu-PF party. | 0:07:35 | 0:07:42 | |
Chinese online giant Alibaba has
taken a $2.9 billion stake in one | 0:07:42 | 0:07:45 | |
of China's largest bricks-and-mortar
grocery retailers. | 0:07:45 | 0:07:52 | |
Leisha Santorelli is in Singapore. | 0:07:53 | 0:08:01 | |
What has the reaction been to this?
This has been an interesting deal, | 0:08:01 | 0:08:07 | |
because more and more people are
shopping online. And by Alibaba | 0:08:07 | 0:08:13 | |
putting so much money into another
company, it shows that there is | 0:08:13 | 0:08:17 | |
future for bricks and mortar stores.
So it is generating discussion in | 0:08:17 | 0:08:20 | |
the business community. The company
competes with Walmart. It operates | 0:08:20 | 0:08:26 | |
hundreds of markets selling
everything under the sun. Alibaba | 0:08:26 | 0:08:30 | |
has been expanding into the fiscal
retail world, so this isn't new, but | 0:08:30 | 0:08:34 | |
it shows that they are looking to go
to great online and off-line selling | 0:08:34 | 0:08:37 | |
and shopping. So in recent years,
they have bought into the grocery | 0:08:37 | 0:08:43 | |
firms and shopping malls. It looks
like the strategy has been emulated | 0:08:43 | 0:08:46 | |
by Amazon as well. They bought whole
foods for $14 billion. It is part of | 0:08:46 | 0:08:52 | |
a strategy where they will acquire
hundreds of grocery stores which can | 0:08:52 | 0:08:56 | |
also service small warehouses to
help with last mile delivery | 0:08:56 | 0:09:00 | |
operations. So it says the six
e-commerce companies the expensive | 0:09:00 | 0:09:05 | |
task of building their own
infrastructure in different | 0:09:05 | 0:09:07 | |
locations and neighbourhoods.
Alibaba and Amazon are looking to | 0:09:07 | 0:09:14 | |
transform how we tail is done at the
moment. Thank you. | 0:09:14 | 0:09:30 | |
There are worries about tax reform
in the United States now worries | 0:09:36 | 0:09:41 | |
about the breakdown of talks in
Germany. Let's see how the European | 0:09:41 | 0:09:45 | |
markets have opened. | 0:09:45 | 0:09:55 | |
Samira Hussain has the details about
what's ahead on Wall Street Today. | 0:09:56 | 0:10:01 | |
It will be a shortened week this
week as the country prepares for the | 0:10:02 | 0:10:06 | |
Thanksgiving holiday, which falls on
Thursday. There will still be some | 0:10:06 | 0:10:10 | |
business news worth paying attention
to. The US Federal Reserve, | 0:10:10 | 0:10:14 | |
America's central bank, will release
the minutes from its October policy | 0:10:14 | 0:10:19 | |
meeting on Wednesday. The
policymakers kept interest rates | 0:10:19 | 0:10:22 | |
unchanged during the meeting and
pointed to strong economic growth | 0:10:22 | 0:10:26 | |
and the strengthening labour market.
Earnings will also continue this | 0:10:26 | 0:10:29 | |
week. We were here from a company
which has been benefiting from | 0:10:29 | 0:10:34 | |
higher international demand for it
construction and farming equipment. | 0:10:34 | 0:10:40 | |
And one home improvement retailer
will have got a boost in demand for | 0:10:40 | 0:10:44 | |
emergency supplies like generators
and building materials because of | 0:10:44 | 0:10:48 | |
the hurricanes that hit the US. That
was some era in New York, outlining | 0:10:48 | 0:10:54 | |
the day in Wall Street. It is also a
busy day in Europe. | 0:10:54 | 0:11:00 | |
The fate of two major European
agencies will be decided later. | 0:11:00 | 0:11:04 | |
The European Medicines Agency
and European Banking Authority | 0:11:04 | 0:11:06 | |
currently reside in London -
which will no longer be part of | 0:11:06 | 0:11:09 | |
the EU from the end of March 2019. | 0:11:09 | 0:11:19 | |
The 27 member states will vote
later on which cities | 0:11:19 | 0:11:22 | |
will become their new homes. | 0:11:22 | 0:11:23 | |
Joe Lynam has more. | 0:11:23 | 0:11:25 | |
This is Canary Wharf
in London's East End. | 0:11:25 | 0:11:27 | |
It's home to some of the biggest
banks in the world, but also to two | 0:11:27 | 0:11:31 | |
very important EU agencies,
the European Banking Authority | 0:11:31 | 0:11:35 | |
in the big tower, with almost
200 staff, is here. | 0:11:35 | 0:11:39 | |
But also here, with
almost 900 staff, is | 0:11:39 | 0:11:41 | |
the European Medicines Agency. | 0:11:41 | 0:11:43 | |
Thanks to Brexit, they
are both moving out. | 0:11:43 | 0:11:48 | |
Today, they will find out
where they are moving to. | 0:11:48 | 0:11:57 | |
And two dozen European cities have
been scrambling to host these | 0:11:57 | 0:11:59 | |
prestigious agencies. | 0:11:59 | 0:12:00 | |
That's because their staff are very
well paid and wherever they go, | 0:12:00 | 0:12:03 | |
they bring thousands more jobs
as companies want to be | 0:12:03 | 0:12:05 | |
near their regulators, be they banks
or pharmaceutical giants. | 0:12:05 | 0:12:08 | |
19 European cities have bid to host
the European Medicines Agency, | 0:12:08 | 0:12:11 | |
which decides on whether drugs can
be sold in the EU. | 0:12:11 | 0:12:16 | |
Eight cities have bid to host
the European Banking Authority, | 0:12:16 | 0:12:19 | |
which monitors the health
of the EU's biggest banks. | 0:12:19 | 0:12:23 | |
From unlimited access to the zoo,
free moving costs and rent paid, | 0:12:23 | 0:12:26 | |
many cities have major incentives
to host the two agencies. | 0:12:26 | 0:12:31 | |
many cities have offered major
incentives to host the two agencies. | 0:12:32 | 0:12:34 | |
But politics may trump all that. | 0:12:34 | 0:12:36 | |
The UK will lose 1,100 good jobs
of regulators who spend | 0:12:36 | 0:12:38 | |
money in the capital,
but there is more to it than that. | 0:12:38 | 0:12:41 | |
Having a regulator creates a halo
effect, because lots of American | 0:12:41 | 0:12:44 | |
and Japanese businesses set up shop
in London precisely | 0:12:44 | 0:12:46 | |
because they want their staff to be
closer to the regulator | 0:12:46 | 0:12:49 | |
so that they can help
shape its decisions, get | 0:12:49 | 0:12:51 | |
their products under their noses. | 0:12:51 | 0:12:54 | |
So lots of companies have said once
the regulator moves, | 0:12:54 | 0:12:57 | |
they will have to think
about sending staff to follow it. | 0:12:57 | 0:12:59 | |
Irrespective of which European
cities win today, this | 0:12:59 | 0:13:02 | |
will be the first tangible
manifestation of Brexit. | 0:13:02 | 0:13:04 | |
It may not be the last. | 0:13:04 | 0:13:11 | |
Still to come... | 0:13:11 | 0:13:12 | |
Turning trash into treasure -
we'll hear from a company that | 0:13:12 | 0:13:15 | |
recycles unwanted bits of hose,
leather, and other materials. | 0:13:15 | 0:13:22 | |
You're
with Business Live from BBC News. | 0:13:22 | 0:13:32 | |
Christmas spending is expected
to fall this year for the first | 0:13:34 | 0:13:36 | |
time in half a decade. | 0:13:36 | 0:13:40 | |
According to figures
out today from Visa, | 0:13:40 | 0:13:42 | |
consumers are set to make the most
of Black Friday promotions - | 0:13:42 | 0:13:45 | |
but spending for the whole
of the festive season | 0:13:45 | 0:13:51 | |
is expected to fall. | 0:13:51 | 0:13:52 | |
Steph McGovern has been
at a Co-Op distribution centre | 0:13:52 | 0:13:54 | |
near Newcastle this morning... | 0:13:54 | 0:13:58 | |
Good morning from this co-op
distribution centre, where you can | 0:13:58 | 0:14:02 | |
see one of the tracks which has
arrived, bringing lots of products. | 0:14:02 | 0:14:06 | |
They have something like 3500
different product lines here. They | 0:14:06 | 0:14:11 | |
are being zipped off to various
shops in the area. There are about | 0:14:11 | 0:14:16 | |
260 shops in the north of England at
the Co-op is sending this stuff too. | 0:14:16 | 0:14:19 | |
We are here because we are talking
about what is happening in retail. | 0:14:19 | 0:14:26 | |
It is literally the busiest time of
year for them. In the run-up to the | 0:14:26 | 0:14:29 | |
festive period, they will be
thinking about how to prepare. There | 0:14:29 | 0:14:32 | |
is research out from visa which
suggests that we will be spending | 0:14:32 | 0:14:36 | |
less this year than we have in
previous years because of the cost | 0:14:36 | 0:14:41 | |
of everything going up and wages not
keeping up. So while we have seen | 0:14:41 | 0:14:46 | |
inflation rise and wages not rising
as much, it means that in real | 0:14:46 | 0:14:50 | |
terms, it is putting a lot of
pressure on the people spending in | 0:14:50 | 0:14:54 | |
the shops. We don't have as much
money as we did in the past. In | 0:14:54 | 0:14:59 | |
terms of where that pressure is
going to fall, analysts suggest that | 0:14:59 | 0:15:03 | |
it will be travel. Clothing as well,
and also your big-ticket household | 0:15:03 | 0:15:07 | |
goods. For food, things look like
they will be fairly flat. People | 0:15:07 | 0:15:13 | |
love spending money on food at
Christmas. Also in terms of where | 0:15:13 | 0:15:18 | |
the money is going and how we are
spending it, whether it is in the | 0:15:18 | 0:15:22 | |
shops or online, just over a third
of what we are spending Christmas | 0:15:22 | 0:15:26 | |
will be spent online, according to
the analysts at Visa. Sorry busy | 0:15:26 | 0:15:32 | |
time still for the retailers, but
things could be tough for them. | 0:15:32 | 0:15:44 | |
Let's show
things could be tough for them. | 0:15:44 | 0:15:45 | |
Let's show you
things could be tough for them. | 0:15:45 | 0:15:45 | |
Let's show you one
things could be tough for them. | 0:15:45 | 0:15:45 | |
Let's show you one of
things could be tough for them. | 0:15:45 | 0:15:46 | |
Let's show you one of the
things could be tough for them. | 0:15:46 | 0:15:46 | |
Let's show you one of the story
things could be tough for them. | 0:15:46 | 0:15:47 | |
Let's show you one of the story
which I assume affects many of you | 0:15:47 | 0:15:49 | |
if you are British Gas customers.
Its owners are saying it is going to | 0:15:49 | 0:15:54 | |
withdraw the standard variable
tariff or SVT which is that's for | 0:15:54 | 0:15:58 | |
new customers by the way which is
one of the tariffs that we have to | 0:15:58 | 0:16:03 | |
try and get our heads around early
time we look to swap energy | 0:16:03 | 0:16:07 | |
providers. Read more on the Business
Live page. | 0:16:07 | 0:16:16 | |
You're watching Business Live -
our top story: | 0:16:16 | 0:16:18 | |
The German
Chancellor, Angela Merkel, | 0:16:18 | 0:16:19 | |
will hold talks later with
President Frank-Walter Steinmeier, | 0:16:19 | 0:16:21 | |
after the collapse of coalition
talks over the weekend | 0:16:21 | 0:16:24 | |
after the centrist Free Democrats
pulled out of negotiations. | 0:16:24 | 0:16:28 | |
No deal at the moment. | 0:16:32 | 0:16:37 | |
Now let's get the inside track
on one luxury accessories | 0:16:37 | 0:16:39 | |
firm with a difference. | 0:16:39 | 0:16:43 | |
Elvis and Kresse is a UK start-up
which is using reclaimed materials | 0:16:43 | 0:16:48 | |
to create things like handbags,
wallets and belts. | 0:16:48 | 0:16:50 | |
The company uses
everything from old firehoses | 0:16:50 | 0:16:54 | |
to used coffee sacks and parachute
silks to make its products. | 0:16:54 | 0:16:59 | |
The firm's founder,
Kresse Wessling, says she wants | 0:16:59 | 0:17:01 | |
to add value to waste and build
a valuable product from it. | 0:17:01 | 0:17:10 | |
Kresse is with us. Welcome to
Business Live. She was smiling when | 0:17:10 | 0:17:15 | |
we were reading the introduction as
they always do. I always feel | 0:17:15 | 0:17:19 | |
nervous when I have got the founder
next to me and reading the | 0:17:19 | 0:17:22 | |
introduction. Tell us about how and
why you started this company? I | 0:17:22 | 0:17:27 | |
moved to the UK in 2004. I have had
a love relationship with waste and I | 0:17:27 | 0:17:34 | |
wanted to solve a problem. I went to
quite a few landfill sites and I had | 0:17:34 | 0:17:39 | |
a chance meeting with the Fire
Brigade and I fell in love with | 0:17:39 | 0:17:43 | |
their old hoses. You fell in love
with an old hose? Let's not go | 0:17:43 | 0:17:51 | |
there. Let's show the viewers what
you make out of the hoses. This is | 0:17:51 | 0:17:58 | |
amazing psmts beautiful, beautiful
handbag which we can see here. This | 0:17:58 | 0:18:01 | |
will cost you around £200 in the UK.
Yes. Where can you buy it? At Elvis | 0:18:01 | 0:18:08 | |
and Kresse.com and select boutiques
across the UK and Europe and through | 0:18:08 | 0:18:12 | |
various online retail partners over
the world. And this is made out of | 0:18:12 | 0:18:16 | |
fire hoses and it is specific in the
sense in that it is ten centimetre | 0:18:16 | 0:18:21 | |
wide strips. How much of the hose is
left behind? We leave behind very | 0:18:21 | 0:18:25 | |
little hose. We started collecting
hoses since 2005 and none of London | 0:18:25 | 0:18:34 | |
Fire Brigade's hoses have gone to
landfill. 50% of the profits from | 0:18:34 | 0:18:39 | |
the range goes to the firefighters
charity. What about chemicals for | 0:18:39 | 0:18:43 | |
cleaning it. One of the things about
rubbish waste it is dirty. You can | 0:18:43 | 0:18:50 | |
imagine a fire hose cleaning machine
didn't exist. We use a machine that | 0:18:50 | 0:18:54 | |
uses only water and we treat our own
waste water. What about the hose | 0:18:54 | 0:19:00 | |
that have been in chemical fires and
stuff. Hoses are nasty things. They | 0:19:00 | 0:19:04 | |
go to nasty places? Contaminated
hoses are always segregated before | 0:19:04 | 0:19:11 | |
we use. We have 15 raw materials.
The lining is an auction banner. We | 0:19:11 | 0:19:18 | |
use parachute silk and we have
started collecting a significant | 0:19:18 | 0:19:21 | |
amount of leather waste which is a
problem on an entirely different | 0:19:21 | 0:19:24 | |
scale to fire hose waste. And I
guess we're going to continue to | 0:19:24 | 0:19:32 | |
collect these niche wastes that have
no hope. We collect the materials | 0:19:32 | 0:19:36 | |
that would otherwise go to landfill
or incineration. To what extent are | 0:19:36 | 0:19:41 | |
you making an impact? I'm sure many
watching will think it is fantastic | 0:19:41 | 0:19:44 | |
what you are doing, but it's such a
huge, huge issue the issue of waste | 0:19:44 | 0:19:49 | |
and you're saying you want to solve
this issue. Is that realistic? I | 0:19:49 | 0:19:53 | |
think every business, if they chose
a problem to solve, and then | 0:19:53 | 0:19:57 | |
successfully did it, we would have a
better world. The point is trying to | 0:19:57 | 0:20:00 | |
make the entire world better and for
us our niche fire hose problem we | 0:20:00 | 0:20:08 | |
were able to solve while making
donations to the firefighters | 0:20:08 | 0:20:11 | |
charity. We are tackling a much
larger leather waste issue, but we | 0:20:11 | 0:20:19 | |
are doing that in conjunction with
Burberry. Would you have a bigger | 0:20:19 | 0:20:25 | |
impact if you went to the othernd of
the market. You are making goods | 0:20:25 | 0:20:30 | |
that those who could make good
choices can afford to make, but | 0:20:30 | 0:20:35 | |
those who buy at the lower end in
terms of their retail spend don't | 0:20:35 | 0:20:39 | |
have so much of a choice and it
might be better if we impact those | 0:20:39 | 0:20:42 | |
more? The second most polluting
industry in the world is the fashion | 0:20:42 | 0:20:47 | |
industry. I think that we have to
change it from all angles and for us | 0:20:47 | 0:20:52 | |
we manufacturer the products
ourselves. We have two sites. We are | 0:20:52 | 0:20:57 | |
a Living Wage employer. And I think
what we are trying to do is set an | 0:20:57 | 0:21:01 | |
example of how this can be done in a
sustainable wonderful, positive way. | 0:21:01 | 0:21:05 | |
What's your ambition? I would really
like to see the world be much | 0:21:05 | 0:21:10 | |
better. For your company? We only
ever want to scale to solve the | 0:21:10 | 0:21:18 | |
problems we've tackled. The leather
waste problem is 80,000 times larger | 0:21:18 | 0:21:23 | |
than the fire hose problem. So I
suppose my ambition is to be in some | 0:21:23 | 0:21:27 | |
way, whether it through partnership
or by other means, 80,000 times | 0:21:27 | 0:21:31 | |
larger than I am now. We will watch
with great interest. Thank you for | 0:21:31 | 0:21:36 | |
coming and bringing that gorgeous
bag and telling us more about your | 0:21:36 | 0:21:40 | |
company. I'm going to remove that.
It is Kresse's. | 0:21:40 | 0:21:48 | |
In a moment we'll take a look
through the Business Pages but first | 0:21:48 | 0:21:51 | |
here's a quick reminder of how
to get in touch with us. | 0:21:51 | 0:21:54 | |
The Business Live page
is where you can stay | 0:21:54 | 0:21:56 | |
ahead of all the day's
breaking business news. | 0:21:56 | 0:21:58 | |
We'll keep you up-to-date
with all the latest details | 0:21:58 | 0:22:00 | |
with insight and analysis
from the BBC's team of editors | 0:22:00 | 0:22:02 | |
right around the world. | 0:22:03 | 0:22:04 | |
And we want to hear from you, too. | 0:22:04 | 0:22:10 | |
Get involved on the BBC business
live web page, bbc.com/business | 0:22:10 | 0:22:14 | |
On Twitter, @BBCBusiness
and you can find us on Facebook | 0:22:14 | 0:22:16 | |
at BBC Business News. | 0:22:16 | 0:22:17 | |
Business Live on TV and online,
whenever you need to know. | 0:22:17 | 0:22:25 | |
So we asked would you upcycle fancy
stuff? Steve says, "Is it not' waste | 0:22:29 | 0:22:38 | |
of time or money?" It is not a waste
of time. Look at the current hot | 0:22:38 | 0:22:43 | |
topic of plastics in the ocean,
recycling or recovery of the energy | 0:22:43 | 0:22:47 | |
from these plastics helps to prevent
the contamination in the first | 0:22:47 | 0:22:51 | |
place. Nicholas Boot says, "It has
to be done, digging up the planet | 0:22:51 | 0:22:58 | |
and burying it again is not a way
for longevity for our species." We | 0:22:58 | 0:23:05 | |
do our best to recycle and reduce
waste, but producers must stop | 0:23:05 | 0:23:09 | |
producing so much in the first
place. Thank you for your views. | 0:23:09 | 0:23:13 | |
Let's move on to the newspapers.
Simon is here. | 0:23:13 | 0:23:21 | |
A turning point in the Brexit talks.
According to the FT they will be | 0:23:21 | 0:23:25 | |
talking about coughing up more money
in their divorce bill and they think | 0:23:25 | 0:23:30 | |
they have got the Cabinet behind
them and how much, 40 billion is it, | 0:23:30 | 0:23:33 | |
maybe more? So you remember that the
initial estimates from the EU side | 0:23:33 | 0:23:40 | |
and Independent folks was around
about 60 billion. We came in with 20 | 0:23:40 | 0:23:44 | |
billion. So, I guess it is not
surprising that in the paper we are | 0:23:44 | 0:23:48 | |
reporting about something that could
go up to 40 billion. And that the | 0:23:48 | 0:23:52 | |
Cabinet is behind Theresa May on
this. The key issue, of course, is | 0:23:52 | 0:23:55 | |
going to be what strings are
attached to that particular deal. Of | 0:23:55 | 0:23:59 | |
course, that's really going to be
about what happens with the trade | 0:23:59 | 0:24:03 | |
negotiations that take place
afterwards. Important bit this, we | 0:24:03 | 0:24:06 | |
need to get through not just the
divorce bill, but there is the | 0:24:06 | 0:24:11 | |
Northern Ireland story and the
citizens rights before we can go | 0:24:11 | 0:24:15 | |
to... The Northern Ireland story
will be pushed into the trade | 0:24:15 | 0:24:19 | |
negotiations because it is the way
that border works in terms of being | 0:24:19 | 0:24:23 | |
an open border or a closed border,
whatever it is, that's very much | 0:24:23 | 0:24:26 | |
linked to how the trade works
between the two sides? I think it | 0:24:26 | 0:24:30 | |
has to because if we don't then
there is a risk that we are going to | 0:24:30 | 0:24:34 | |
start getting to a point where we
haven't been able to finish the | 0:24:34 | 0:24:38 | |
divorce bill before getting on to
trade and we are not going to have | 0:24:38 | 0:24:41 | |
enough time for companies to make
their second choices before Brexit. | 0:24:41 | 0:24:45 | |
Just before we go on to talk about
the next one. It will be a | 0:24:45 | 0:24:50 | |
humiliating climb-down for some of
the Brexit or Brexiteer, don't you | 0:24:50 | 0:24:55 | |
think? Boris Johnson was saying they
are going to have to whistle for the | 0:24:55 | 0:25:00 | |
money? Yes, it is, but I think most
people accepted there would be money | 0:25:00 | 0:25:09 | |
and 40 sounds like it. Monaco builds
into the method to house new throng | 0:25:09 | 0:25:14 | |
of super rich. Interesting story
following on from the Paradise | 0:25:14 | 0:25:19 | |
Papers, isn't it? They are talking
about building enough space for 220 | 0:25:19 | 0:25:23 | |
extra apartments. The average cost
of for, what you get for $1 million | 0:25:23 | 0:25:29 | |
in Monaco is 17 square meters.
That's one-third of what you get in | 0:25:29 | 0:25:33 | |
Paris. It is more extensive than in
the centre of London. That's about | 0:25:33 | 0:25:40 | |
the size of a studio. Basically
somewhere to put your bed and your | 0:25:40 | 0:25:47 | |
million. And your very small dog!
And little bit extra to swing a cat | 0:25:47 | 0:25:52 | |
in. You can tell none of tus live
there -- us live there. That's it | 0:25:52 | 0:26:01 | |
from us today. | 0:26:01 | 0:26:04 | |
There will be more business news
throughout the day on the BBC Live | 0:26:04 | 0:26:07 |