0:00:03 > 0:00:06This is Business Live from BBC News with David Eades
0:00:06 > 0:00:08and Susannah Streeter.
0:00:08 > 0:00:11Passengers are up but profits are down, as Easyjet
0:00:11 > 0:00:13gives its latest numbers for the last year.
0:00:13 > 0:00:15Live from London, that's our top story on Tuesday
0:00:15 > 0:00:21the 21st of November.
0:00:35 > 0:00:38The low-cost carrier blamed a weaker pound for a 17%
0:00:38 > 0:00:42fall in pre-tax profits, just as the company
0:00:42 > 0:00:44is saying bon voyage to Chief Executive Carolyn McCall,
0:00:44 > 0:00:47who leaves in December.
0:00:47 > 0:00:51Also in the programme, the US government has filed
0:00:51 > 0:00:55a lawsuit to try to stop the multi-billion dollar takeover
0:00:55 > 0:00:57by the American telecoms giant AT&T of the media group,
0:00:57 > 0:01:03Time Warner.
0:01:03 > 0:01:06A quick look at the markets and the message coming out of Europe to
0:01:06 > 0:01:10start with, it is down, bucking the trend we've seen across Asia and the
0:01:10 > 0:01:11US.
0:01:11 > 0:01:14Educating the masses: we'll be speaking to the founder
0:01:14 > 0:01:19of a tutoring company that's helped 20,000 students in just four years.
0:01:19 > 0:01:22In the US, a turkey will be pardoned by the President
0:01:22 > 0:01:24ahead of Thanksgiving.
0:01:24 > 0:01:26Today, we want to know about your holiday traditions.
0:01:26 > 0:01:28Is it trees and lights?
0:01:28 > 0:01:31Eggnog? Carols?
0:01:31 > 0:01:34Is it too early?
0:01:34 > 0:01:38Let us know. Just use the hashtag BBCBizLive.
0:01:43 > 0:01:45Hello and welcome to Business Live.
0:01:45 > 0:01:48Easyjet has blamed a weaker pound for a 17% fall
0:01:48 > 0:01:52in annual pre-tax profits.
0:01:52 > 0:01:56The budget carrier's profits for the year ending in September
0:01:57 > 0:01:59came in at $540 million.
0:01:59 > 0:02:03However, it was not all gloomy news, with passenger numbers rising
0:02:03 > 0:02:08by 9.7% to 80 million.
0:02:08 > 0:02:11In recent times, the company has been looking to expand,
0:02:11 > 0:02:13having put in offers to buy parts of the now defunct AirBerlin
0:02:14 > 0:02:17and Alitalia airlines.
0:02:17 > 0:02:20It's been aided by the collapse of rival Monarch earlier
0:02:20 > 0:02:23in the year, especially on some key routes.
0:02:23 > 0:02:28And of course, its main rival Ryanair is dealing with the fallout
0:02:28 > 0:02:30of a disastrous scheduling malfunction that led
0:02:30 > 0:02:33to the cancellation of around 20,000 flights and shaved millions
0:02:33 > 0:02:35from its bottom line.
0:02:35 > 0:02:39This will be the last time Chief Executive Carolyn McCall
0:02:40 > 0:02:41reports earnings for the airline.
0:02:41 > 0:02:45She finishes the job on December 1st before taking up a new role as CEO
0:02:45 > 0:02:50of ITV television here in London.
0:02:50 > 0:02:52She told the BBC about her decision to leave.
0:02:52 > 0:02:55I think we have turned the company into a really great airline.
0:02:55 > 0:03:00So, I leave with sadness, but I also think there is always
0:03:00 > 0:03:04a time to leave and I would rather be leaving when things are starting
0:03:04 > 0:03:07to look very positive and that's why I'm leaving.
0:03:07 > 0:03:10I think seven-and-a-half years is about the right time.
0:03:10 > 0:03:12Victoria Moores is European Editor and Bureau Chief
0:03:12 > 0:03:18at Air Transport World.
0:03:18 > 0:03:23Good morning. We heard from Carolyn McCall, there, a good time to leave,
0:03:23 > 0:03:28revenues up by 8%, even though profits are not doing so well.
0:03:28 > 0:03:31That's a real indication of the where think -- way things are and
0:03:31 > 0:03:36the air transport market at the moment, passenger numbers up 9.7%,
0:03:36 > 0:03:40revenues up by 8.1% but at the same time, profits are down which
0:03:40 > 0:03:45reflects the fact the passengers are paying less for their seats. Less
0:03:45 > 0:03:51than they have before.It is more about that than the currency
0:03:51 > 0:03:54fluctuations or drop?It's a mix of everything that is going on in the
0:03:54 > 0:03:58market. We have a fiercely competitive market. Obviously,
0:03:58 > 0:04:00things like currency fluctuations, Brexit and the uncertainty around
0:04:00 > 0:04:05that does not help but the main thing is, European aviation, we have
0:04:05 > 0:04:11got a lot of airlines and a lot of competition.But is it clear skies
0:04:11 > 0:04:14for easyJet now? It has come out with a good set of numbers, Ryanair
0:04:14 > 0:04:18is struggling with scheduling, we have had the collapse of Moloch. Do
0:04:18 > 0:04:24you think the future looks good for Ryanair?I don't think that any
0:04:24 > 0:04:30airline ever celebrate another airline's misfortune. But yes,
0:04:30 > 0:04:33certainly if there are fewer players in the market, fewer people fighting
0:04:33 > 0:04:37for the passengers, it makes things a bit easier if you have got
0:04:37 > 0:04:39airlines that are really struggling and desperately trying to get hold
0:04:39 > 0:04:44of passengers exiting the market. We have seen more of that busier than
0:04:44 > 0:04:47we have in a long time, it has been predicted for a long while that we
0:04:47 > 0:04:52need consolidation and it's finally happened this year.But it feels
0:04:52 > 0:04:54like a confident airline, Carolyn McCall is obviously going to talk it
0:04:54 > 0:04:59up as she goes but they are out on the ground, looking to acquire,
0:04:59 > 0:05:06looking to build for the future. Absolutely. Willie Walsh was
0:05:06 > 0:05:10speaking recently and he said the traditional airlines were a bit
0:05:10 > 0:05:14arrogant about the idea of low-cost carriers when they first came on the
0:05:14 > 0:05:17scene. Low-cost carriers have proven they are to here stay, that the
0:05:17 > 0:05:21business model works and under Carolyn McCall's leadership, easyJet
0:05:21 > 0:05:25has branched out to really attack the primary hubs, to get business
0:05:25 > 0:05:28passengers. EasyJet is a very innovative airline as well, you see
0:05:28 > 0:05:33them doing a lot of trials with technology like using drones for
0:05:33 > 0:05:36aircraft inspections, doing a lot of automation together with Gatwick
0:05:36 > 0:05:39Airport. They are really trying to push the curve as opposed to
0:05:39 > 0:05:43following it.But possible turbulent times ahead with the loss of the
0:05:43 > 0:05:48open skies agreement with Brexit. Do you think easyJet can weather that
0:05:48 > 0:05:53storm?They have already got some contingencies in place. Airlines
0:05:53 > 0:05:56have to be majority-owned within the continent they operate or the market
0:05:56 > 0:05:58they operate and they have set up a new airline in Austria called
0:05:58 > 0:06:02easyJet Europe to maintain the rights to be able to fly the kind of
0:06:02 > 0:06:06routes passengers are used to flying with easyJet. They are putting
0:06:06 > 0:06:10contingencies in place but there is no doubt that doing that costs money
0:06:10 > 0:06:13and ultimately when passengers are not prepared to pay very much for
0:06:13 > 0:06:16their tickets, it puts further pressure on profits.Thank you for
0:06:16 > 0:06:18joining us.
0:06:18 > 0:06:22We're going to bring you a big story from the US.
0:06:22 > 0:06:25The Department of Justice will sue to block a proposed $85 billion
0:06:25 > 0:06:28takeover of Time Warner by AT&T.
0:06:28 > 0:06:31Regulatory concerns around the deal have ramped up in recent months
0:06:31 > 0:06:36and now the US Justice Department is saying it violates rules
0:06:36 > 0:06:38governing fair competition.
0:06:38 > 0:06:41Samira Hussain reports from New York.
0:06:41 > 0:06:44This is a deal that has always made sense for the two companies.
0:06:44 > 0:06:49AT&T is one of America's leading mobile telecom operators.
0:06:49 > 0:06:55So owning Time Warner's news and entertainment properties
0:06:55 > 0:06:59would really give it a big competitive advantage and based
0:06:59 > 0:07:03on precedent like Comcast's take-over of NBC which went
0:07:03 > 0:07:06through in 2010, this AT&T merger looked like it would be
0:07:06 > 0:07:10accepted by regulators, but as soon as it was announced
0:07:10 > 0:07:12in 2016, then-presidential candidate Donald Trump made it clear
0:07:12 > 0:07:18that he did not like it.
0:07:18 > 0:07:23Mr Trump has also been very clear about his deep dislike for the news
0:07:23 > 0:07:26coverage of CNN, which is owned by Time Warner.
0:07:26 > 0:07:29Now responding to the news that Mr Trump's Justice Department
0:07:29 > 0:07:33is going to try to block the deal, AT&T's boss didn't hold back
0:07:33 > 0:07:35from the politics of the situation.
0:07:35 > 0:07:41The bottom line is that we cannot and we will not be party to any
0:07:41 > 0:07:44agreement that would even give the perception of compromising
0:07:44 > 0:07:48the first amendment protections of the press.
0:07:48 > 0:07:51So any agreement that results in us forfeiting control of CNN
0:07:51 > 0:07:55whether directly or indirectly is a non-starter.
0:07:55 > 0:07:59The Department of Justice denies any suggestion
0:07:59 > 0:08:06that the deal is being blocked because of the president's animosity
0:08:06 > 0:08:09towards CNN and says that the AT&T and Time Warner would simply have
0:08:09 > 0:08:10too much media power.
0:08:10 > 0:08:15The companies are clearly determined to challenge that view.
0:08:15 > 0:08:18Let's take a look at some of the other stories making the news.
0:08:18 > 0:08:24The last big procedural hurdle to the completion of Keystone XL
0:08:24 > 0:08:27pipeline was cleared on Monday, when five members of the Nebraska
0:08:27 > 0:08:29Public Service Commission voted to approve an amended route
0:08:29 > 0:08:31through the state.
0:08:31 > 0:08:36But opponents have promised to tie the project up in court
0:08:36 > 0:08:38for years and TransCanada is still studying its
0:08:38 > 0:08:40commercial viability.
0:08:40 > 0:08:46Colorado regulators have fined Uber $8.9 million,
0:08:46 > 0:08:50saying the ride-hailing app allowed 57 people to work as drivers
0:08:50 > 0:08:53without a valid license or had committed other offences that
0:08:53 > 0:08:54would have disqualified them.
0:08:54 > 0:08:57Uber said it recently discovered an error in its background check
0:08:57 > 0:09:00process and is working to correct the issue.
0:09:00 > 0:09:03The Turkish lira has fallen to a new record low,
0:09:03 > 0:09:07after the country's central bank cut borrowing limits for Turkish banks.
0:09:07 > 0:09:09The move was made to reduce liquidity of the currency,
0:09:09 > 0:09:15which has led to high inflation over the past 12 months.
0:09:15 > 0:09:19-- which is one of the world's worst performers over the past year.
0:09:19 > 0:09:21Tencent, China's biggest social network and gaming firm,
0:09:21 > 0:09:31has become China's first $500 billion technology giant It now
0:09:33 > 0:09:35has sights on securing success in the rest of the world.
0:09:35 > 0:09:40Leisha Santorelli is in Singapore.
0:09:40 > 0:09:47Do you think it has got its sights set on becoming the next Facebook?
0:09:47 > 0:09:52It is actually bigger than Facebook by market capitalisation now and
0:09:52 > 0:09:55this is really exciting news because it is the first Asian company to
0:09:55 > 0:10:03join that exclusive $500 billion club. Its only other members being
0:10:03 > 0:10:07Apple, Alphabet, Microsoft, Amazon and Facebook. Many viewers are
0:10:07 > 0:10:10probably unfamiliar with Tencent because the bulk of its success
0:10:10 > 0:10:14comes from within China. As you mentioned, it is China's biggest
0:10:14 > 0:10:21social network and online gaming company but the crown jewel is its
0:10:21 > 0:10:26messaging service, WeChat which is WhatsApp but on steroids, both have
0:10:26 > 0:10:30about 1 million users but an WeChat, you can pay bills, order food and
0:10:30 > 0:10:35hail a taxi so whether always can duplicate its success is where
0:10:35 > 0:10:38remains to be seen but its recent investment in snatch at might be key
0:10:38 > 0:10:51to that. -- in Snapchat.Let's have a look at the markets, easyJet 9.7
0:10:51 > 0:10:56up -- Oenone Wood is set up on the passenger numbers. Let's see if we
0:10:56 > 0:11:01can get the markets. Count to three committee we go, they are there now.
0:11:05 > 0:11:08This reflects how Europe has started this morning, not very encouraging
0:11:08 > 0:11:12when you think of the Asian markets, the Hang Seng on a 10-year high in
0:11:12 > 0:11:15Hong Kong again and also the Dow Jones last night was going along
0:11:15 > 0:11:24pretty nicely. But Europe, a rather disappointing start.
0:11:24 > 0:11:26May be that reflect the increased political risk.
0:11:26 > 0:11:29Michael Hewson is chief market analyst as CMC Markets.
0:11:29 > 0:11:35Good morning. What do you think? The collapse of German government
0:11:35 > 0:11:38coalition talks has raised the spectre again that we thought had
0:11:38 > 0:11:45been put to bed with the election of Emmanuel Macron.Yeah, and I think
0:11:45 > 0:11:48fractious European politics is nothing new but now it appears to
0:11:48 > 0:11:53have spread to Germany and we saw the Dax rebounding yesterday after
0:11:53 > 0:11:56ending last week lower, there was a perception Germany would get past
0:11:56 > 0:12:00this but the fact Angela Merkel feels it necessary to call an
0:12:00 > 0:12:04election throws a host of new uncertainties out there and the
0:12:04 > 0:12:08likelihood is this political gridlock is likely to move into next
0:12:08 > 0:12:15year. Part of the rebound of the Dax yesterday was mastered by the fact
0:12:15 > 0:12:17that VW announced a significant infrastructure boost to German
0:12:17 > 0:12:20factories which is why it rebounded but I think political uncertainty is
0:12:20 > 0:12:25going to make it very difficult, not only for Germany to return to a
0:12:25 > 0:12:29stable political climate but it is also going to complicate the Brexit
0:12:29 > 0:12:37talks as well.You talk about VW. What exactly... They said they would
0:12:37 > 0:12:41invest in electric cars in particular, quite a significant sum.
0:12:41 > 0:12:48It's a five-year plan and they will be investing about 30- 40 billion
0:12:48 > 0:12:52euros between now and 2022 with 14 billion euros in German factories
0:12:52 > 0:12:55alone so it will have a significant impact, not only in German factories
0:12:55 > 0:12:59but also the supply chain. That is why you saw the Dax rebounding as
0:12:59 > 0:13:04strongly as it did yesterday, VW shares closed up 4%, as did
0:13:04 > 0:13:11Portia's. -- Porsche was Mac.Had that not been announced yesterday,
0:13:11 > 0:13:14it makes you wonder how much further we might have seen the falls.I
0:13:14 > 0:13:20think that is why you are seeing a tale of this morning. If there had
0:13:20 > 0:13:22been a substantial bounce to the lower euro, we would have seen the
0:13:22 > 0:13:26Dax build on those gains but I think it is going to be difficult for it
0:13:26 > 0:13:30to significantly move higher, given it is fairly close to all-time highs
0:13:30 > 0:13:34anyway.Michael, for now, thank you. We will talk through the papers with
0:13:34 > 0:13:35you later.
0:13:35 > 0:13:36Still to come.
0:13:36 > 0:13:39The price of top tutoring: we'll meet the 22-year-old founder
0:13:39 > 0:13:42of a company specialising in education that's
0:13:42 > 0:13:45now worth millions.
0:13:45 > 0:13:48You're with Business Live from BBC News.
0:13:56 > 0:14:04Kingfisher, Europe's largest home improvement retailer,
0:14:04 > 0:14:06has reported a fall in sales.
0:14:06 > 0:14:08The company, which runs B&Q and Screwfix in Britain,
0:14:08 > 0:14:10says weak sales in France are to blame.
0:14:10 > 0:14:17Theo Leggett joins us live from the Business Newsroom.
0:14:17 > 0:14:21The company announced a huge restructuring plan a while back. Any
0:14:21 > 0:14:27sign it is reaping rewards.At the moment it is causing more problems
0:14:27 > 0:14:30than reaping rewards. This is the early stages of a five-year plan an
0:14:30 > 0:14:35part of what it set out to do was to rationalise the way Kingfisher
0:14:35 > 0:14:40bought products for its different chains so B and screw fixed in the
0:14:40 > 0:14:45UK, Castorama an Brico Depot in France and so on. At one point, very
0:14:45 > 0:14:48few of the products were sold across different stores which was seen as
0:14:48 > 0:14:52being wasteful, they had nine different purchasing teams, there
0:14:52 > 0:14:55was too much duplication so now they are trying to get rid of that but
0:14:55 > 0:14:58the consequence has been that the chain has been trying to sell off a
0:14:58 > 0:15:01lot of old product and has been having a bit of trouble finding
0:15:01 > 0:15:05enough of the new product lines. There's been a bit of what they call
0:15:05 > 0:15:09business disruption as a result. But they say they are confident that in
0:15:09 > 0:15:14the years to come, this major structural change will read big
0:15:14 > 0:15:18rewards.France still clearly a disappointing performance.
0:15:18 > 0:15:22Absolutely and we don't entirely know why that is. About half of
0:15:22 > 0:15:26Kingfisher's business is done with France through Castorama an Brico
0:15:26 > 0:15:30Depot and both of them have seen like-for-like sales fall. Across the
0:15:30 > 0:15:38James Connor it is down by about 4%. In the UK, it is more of a mixed
0:15:38 > 0:15:43picture, Brico Depot down about 2.5% but Brico Depot, this monitor
0:15:43 > 0:15:47growing rapidly, saw its sales rise 10% so it is the shining light,
0:15:47 > 0:15:51doing well indeed so a mix picture across the different businesses of
0:15:51 > 0:15:57what is quite a large retail group. Thank you for joining us.
0:16:03 > 0:16:10There is some breaking news about how the drugs firm Concordia
0:16:10 > 0:16:15overcharged the NHS by millions. The Canadian drugs firm overcharged the
0:16:15 > 0:16:20NHS for an essential tried royed drug. This is from the Competition
0:16:20 > 0:16:23and Markets Authority which investigated how much the company
0:16:23 > 0:16:28was charging for those certain tablets. Much more on the BBC live
0:16:28 > 0:16:31page.
0:16:38 > 0:16:40You're watching Business Live.
0:16:40 > 0:16:43Our top story - in the last set of results with Carolyn McCall
0:16:43 > 0:16:46as chief executive, EasyJet has reported record passenger
0:16:46 > 0:16:49numbers but a 17% fall in annual pre-tax profits.
0:16:50 > 0:16:53Now making money from education.
0:16:53 > 0:16:55It's a fast-growing sector - particularly in emerging economies.
0:16:55 > 0:16:58Last year, the global education industry was worth
0:16:58 > 0:17:00$3.3 trillion with India, China and the Middle East
0:17:00 > 0:17:05all strong growth areas.
0:17:05 > 0:17:08One company which has been able to take advantage of the growing
0:17:08 > 0:17:12sector is the New Zealand-based firm Crimson Education.
0:17:12 > 0:17:15Set up just four years ago by a 18-year-old student, it's now
0:17:15 > 0:17:20worth more than $140 million and has a network of more than 2,000
0:17:20 > 0:17:22tutors and mentors.
0:17:22 > 0:17:28Jamie Beaton, Founder and CEO of Crimson Education.
0:17:28 > 0:17:34Now 22 I understand. Jamie, how have you managed to set this up alongside
0:17:34 > 0:17:38your own education. You have set-up this company now worth millions of
0:17:38 > 0:17:43dollars. How did you do that?It has been an incredible journey. I guess
0:17:43 > 0:17:46it came out of my personal experience, growing up in New
0:17:46 > 0:17:53Zealand there weren't many students heading overseas. My own experience
0:17:53 > 0:17:57navigating going to Harvard. From there it lass been a brilliant team
0:17:57 > 0:18:00and amazing support. Frankly the biggest thing has been the success
0:18:00 > 0:18:06of our students. How well we do for our students drives the growth and
0:18:06 > 0:18:11it has been the incredible results. You applied for and were accepted at
0:18:11 > 0:18:1825 universities?Yes.So, I presume from that one thing you learnt apart
0:18:18 > 0:18:21from the fact that you can get in wherever you like, there are
0:18:21 > 0:18:24different approaches for everywhere you want to go which is the basis of
0:18:24 > 0:18:28what you are delivering?Definitely. I guess students are faced with a
0:18:28 > 0:18:32really challenging and complicated decision today when they are
0:18:32 > 0:18:35navigating through university choices. Every university degree is
0:18:35 > 0:18:39distinct and everyone has big implications on your future. We
0:18:39 > 0:18:42really help our students navigating what is the best programme for them
0:18:42 > 0:18:47anywhere in the world. Many students are looking at US options and
0:18:47 > 0:18:53Singapore and domestic options here in the UK.I suppose, as well,
0:18:53 > 0:18:56different schools offer varying degrees of help for their students
0:18:56 > 0:18:59depending on whether they are private schools, state schools and
0:18:59 > 0:19:03what they can offer?High schools do a fantastic job of working for their
0:19:03 > 0:19:09students. The key thing is for the career councillor, there is so much
0:19:09 > 0:19:12complexity. It is hard for any one person to have all that content in
0:19:12 > 0:19:21mind. So our students work with the teams and mentors, based around the
0:19:21 > 0:19:25world helping navigate the difficult choices.Some are under graduates. I
0:19:25 > 0:19:28can see the attraction for a bit of extra cash, but others, they have
0:19:28 > 0:19:31gone through the process. They are in jobs as well. They are still
0:19:31 > 0:19:36willing to be mentors?Yes, so our network is incredibly diverse. We
0:19:36 > 0:19:44have got over 2,000, that includes season educated experts. One of our
0:19:44 > 0:19:52team, Kevin Simm got students into Oxbridge and bridge and many have
0:19:52 > 0:19:56won gold medals. So there is a huge diversity in the age and background
0:19:56 > 0:20:01of the mentors. The key thing is the high calibre.How does the mentoring
0:20:01 > 0:20:07take place? Is it via Skype, or face time or do the mentors meet the
0:20:07 > 0:20:11students in person?It is a blended mix. We think that's the most
0:20:11 > 0:20:14effective combination. We have built an online classroom experience for
0:20:14 > 0:20:17our students that let's them road map their future and plan the
0:20:17 > 0:20:21different years of university. They can work with their mentors online
0:20:21 > 0:20:25and share resources, but we have in person delivery in London for our
0:20:25 > 0:20:29students.This is not something you pick up when you start revising and
0:20:29 > 0:20:33say help me get through this. This is a long-term strategic view for
0:20:33 > 0:20:37youngsters to take, maybe a couple of years even?Absolutely.And
0:20:37 > 0:20:41that's going to cost?Yes. I guess the key thing is many of our
0:20:41 > 0:20:45students are signing up when they are 13, 14, 15 with the view that
0:20:45 > 0:20:51they are going to spend multiple years in high school. The key thing
0:20:51 > 0:20:57for us is to unpick their interests. This is another example how you just
0:20:57 > 0:21:01have to be wealthy to access the best education. Surely, it's not
0:21:01 > 0:21:05really fair for those people who can't afford your fees?I disagree
0:21:05 > 0:21:15with that. One thing we are focussed on at Crimson is access. So any
0:21:15 > 0:21:18student can apply and get funding for our programmes and we are
0:21:18 > 0:21:23committed to making sure whatever students have the potential to go
0:21:23 > 0:21:29overseas do that and we have do that through our platform Crimson hub. We
0:21:29 > 0:21:33are really trying to improve the base and level of access for anyone
0:21:33 > 0:21:36in any country going through the journey.Give us an idea of what it
0:21:36 > 0:21:40would cost? I need two years of help to get through and to get to my
0:21:40 > 0:21:47dream university. What's that going to set me back?£3,000 to £10,000
0:21:47 > 0:21:51for an annual programme. It is personalised so some students come
0:21:51 > 0:21:54to us, they have one mentor that helps them with a specific
0:21:54 > 0:21:59application and in other cases it is a four year intensive programme.It
0:21:59 > 0:22:04is a good little earner for the mentors who are at university I
0:22:04 > 0:22:09suppose who don't have to work in a bar, they can work on Skype. I'm
0:22:09 > 0:22:15glad you have come along after my boys left university. That's another
0:22:15 > 0:22:20bank of dad it sounds like to me.It is important you are investing in
0:22:20 > 0:22:26education and all that money on your degree on the best programme. Many
0:22:26 > 0:22:31of our students get financial aid. In many cases our fees are paid for
0:22:31 > 0:22:37by the scholarships.Thank you very much.
0:22:37 > 0:22:41In a moment, we'll take a look through the Business Pages but first
0:22:41 > 0:22:43here's a quick reminder of how to get in touch with us.
0:22:43 > 0:22:46The Business Live page is where you can stay
0:22:46 > 0:22:47ahead of all the day's breaking business news.
0:22:47 > 0:22:50We'll keep you up-to-date with all the latest details
0:22:50 > 0:22:52with insight and analysis from the BBC's team of editors
0:22:52 > 0:22:53right around the world.
0:22:53 > 0:22:55And we want to hear from you, too.
0:22:55 > 0:23:03Get involved on the BBC business live web page,
0:23:03 > 0:23:04bbc.com/business.
0:23:04 > 0:23:06On Twitter, @BBCBusiness and you can find us
0:23:06 > 0:23:07on Facebook at BBC Business News.
0:23:07 > 0:23:17Business Live on TV and online, whenever you need to know.
0:23:19 > 0:23:22Michael is back to look at the papers.
0:23:22 > 0:23:25We will talk about the Brexit talks and this headline in the papers
0:23:25 > 0:23:29today that apparently there is going to be an up in the offer for the
0:23:29 > 0:23:34divorce bill?Yes, interesting. Interesting dynamic that because I
0:23:34 > 0:23:39think with the Budget tomorrow, I think it's increasingly obvious that
0:23:39 > 0:23:42the Chancellor is very cash-strapped. So I think where to
0:23:42 > 0:23:46the Budget it will be difficult for him to do anything. Given the fact
0:23:46 > 0:23:51that there is talk that the offer is going to be upped. Contingent on
0:23:51 > 0:23:57parallel trade talks by another 20 billion euros.20 billion euros.
0:23:57 > 0:24:01That's a good question, it might be sterling.I think that's in the
0:24:01 > 0:24:06negotiation! Nothing is agreed until everything is greed. I think this
0:24:06 > 0:24:12will be a tough sell for some in the Conservative Party. When you've got
0:24:12 > 0:24:15widespread austerity that we're going to stump up 40 billion euros.
0:24:15 > 0:24:20We don't know what the end result is going to be.Boris Johnson has gone
0:24:20 > 0:24:23from go whistle to something for something. So there is shifting
0:24:23 > 0:24:27there.There is shifting, but you've got to look at it from the EU's
0:24:27 > 0:24:31side. Michel Barnier yesterday suggested that ultimately they may
0:24:31 > 0:24:37not get what they want with respect to parallel trade talks in the Irish
0:24:37 > 0:24:40border issue is resolved to their satisfaction.We have headlines
0:24:40 > 0:24:45saying no matter what divorce bill is agreed and where the trade talks
0:24:45 > 0:24:49start, banks in particular, financial services firms will start
0:24:49 > 0:24:54moving staff abroad because it's too late?Well, from what Michel Barnier
0:24:54 > 0:24:57said, UK banks are going to lose their passporting rights. So it's
0:24:57 > 0:25:03good planning to have some contingency in place within the EU
0:25:03 > 0:25:08for any business that you need to do within the EU. So, given the
0:25:08 > 0:25:12shambolic nature of this government's Brexit negotiations and
0:25:12 > 0:25:17the lack of any real opposition to them...I really want to bring in
0:25:17 > 0:25:20this last story about the turkeys waiting for a pardon in the United
0:25:20 > 0:25:25States. They are waiting in a hotel room. Look at this! There they are.
0:25:25 > 0:25:30They have had a luxury wait for the turkeys in Washington.I hope
0:25:30 > 0:25:34President Trump is not expecting a thank you from them otherwise he
0:25:34 > 0:25:40will spend the next 14 hours shouting at them.Ray Grant saying
0:25:40 > 0:25:45he is not going to be eating turkey. He will be watching football with
0:25:45 > 0:25:49his family and friends.Sounds like a plan.Thank you very much.
0:25:49 > 0:25:53Those turkeys have come from Minnesota this year, but which one
0:25:53 > 0:25:57will get the pardon. Only one is going back to Minnesota. We will see
0:25:57 > 0:26:00what happens. That's it from Business Live today. Thank you for
0:26:00 > 0:26:06being with us.Thank you, goodbye.