22/11/2017

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0:00:06 > 0:00:08This is Business Live from BBC News with Susannah

0:00:08 > 0:00:09Streeter and David Eades.

0:00:09 > 0:00:11It's budget day here in the UK,

0:00:11 > 0:00:16but what measures will the Chancellor of the Exchequer

0:00:16 > 0:00:17present to bolster Britain's low productivity?

0:00:17 > 0:00:19Live from London, that's our top story on Wednesday

0:00:19 > 0:00:2922nd November.

0:00:37 > 0:00:41Growth in the UK is flagging behind Germany and France.

0:00:41 > 0:00:44We'll look at what solutions are likely to be announced later

0:00:44 > 0:00:47and ask if they go far enough.

0:00:47 > 0:00:50Also in the programme - Personal data on 57 million Uber

0:00:50 > 0:00:54customers and drivers were breached in a hack attack that Uber concealed

0:00:54 > 0:01:00for more than a year.

0:01:00 > 0:01:03And all the latest from the financial markets following another

0:01:03 > 0:01:13record close on Globe Street, the global rally has extended to Europe.

0:01:13 > 0:01:16The gig economy goes Down Under - we'll speak to one Australian

0:01:16 > 0:01:18entrepreneur who's helping people who need things in touch

0:01:18 > 0:01:24with the others who have them - for a small fee, of course.

0:01:24 > 0:01:29After reports that 1400 cups are used every day of the UK's

0:01:29 > 0:01:33environment department, we want to know how you take your cup of tea,

0:01:33 > 0:01:39plastic, paper, or some other way? What would it take to ditch

0:01:39 > 0:01:43disposable and switch to renewable cups? Get in touch.

0:01:43 > 0:01:47Just use the hashtag BBCBizLive.

0:01:47 > 0:01:50Hello and welcome to Business Live.

0:01:50 > 0:01:53UK Chancellor Philip Hammond will deliver his Autumn Budget today.

0:01:53 > 0:01:55One of his challenges will be to combat a decade

0:01:55 > 0:02:00of flat productivity.

0:02:00 > 0:02:02Until 10 years ago, productivity was the motor that

0:02:02 > 0:02:10drove UK economic growth.

0:02:10 > 0:02:12This blue crooked line is output per hour.

0:02:12 > 0:02:14The straight line is the actual measure -

0:02:14 > 0:02:18and this broken line is what it should be at if the trends before

0:02:18 > 0:02:19the crisis had continued.

0:02:19 > 0:02:20So it's a pretty big difference.

0:02:20 > 0:02:23The typical rate of growth in the last five years is only 0.2%.

0:02:23 > 0:02:25The presumption was that the underlying factors linked

0:02:25 > 0:02:27to the financial crisis would eventually improve.

0:02:27 > 0:02:29But so far productivity has remained stagnant.

0:02:29 > 0:02:31Other European countries are faring better.

0:02:31 > 0:02:34Germany is 36% higher than the UK and France is 30% higher.

0:02:34 > 0:02:40And there is a correlation between productivity and real wages.

0:02:40 > 0:02:47In 2013, the OECD compiled how much people actually have to spend -

0:02:47 > 0:02:50in France it's this - $29,759, compared with Britain - $26,687.

0:02:50 > 0:02:53A $3,000 difference.

0:02:53 > 0:02:55That is quite a difference.

0:02:55 > 0:03:00Our economics editor, Kamal Ahmed is here.

0:03:00 > 0:03:05Let's start with that, we have a problem in terms of our nearest and

0:03:05 > 0:03:08dearest even if we leave them soon, one budget won't resolve that, this

0:03:08 > 0:03:13Philip Hammond going to do something for it?You're right, some of this

0:03:13 > 0:03:18is down to what businesses investing rather than what governments do. I

0:03:18 > 0:03:23think governments can set the tone for how the economy feels and

0:03:23 > 0:03:27certainly many economists say that if you borrow to invest you can

0:03:27 > 0:03:32increase productivity so investing in digital infrastructure, in

0:03:32 > 0:03:36housing, in transport links, those other kind of things that boost

0:03:36 > 0:03:44productivity an economy.We've heard some of those words in the last few

0:03:44 > 0:03:47days, like the Digital economy, that is pushing some money in the

0:03:47 > 0:03:55direction that would help in terms of productivity.I think from some

0:03:55 > 0:04:02economists the feeling is that he isn't doing enough. That's because

0:04:02 > 0:04:05Philip Hammond has a fiscal rule. He wants to balance the government 's

0:04:05 > 0:04:12books so that they spend one amount and the tax and then that is in

0:04:12 > 0:04:17balance by the middle of the next decade. You should do more to borrow

0:04:17 > 0:04:21now because interest rates are low, and to push in things like Digital

0:04:21 > 0:04:27five D and housing. Small incremental changes which is what he

0:04:27 > 0:04:31is criticised for, won't be enough. Yet that seems to be what we will

0:04:31 > 0:04:38get.Philip Hammond is also concerned about the Brexit process.

0:04:38 > 0:04:44Does he need to save up the money he has in the economy for the moment

0:04:44 > 0:04:51when written leaves the EU, could that be hard Brexit and a shock to

0:04:51 > 0:04:57the economy, would he need money then and not now? So there's

0:04:57 > 0:05:01cautious in the Treasury and there has been a strategy to get the

0:05:01 > 0:05:06deficit down, to hit these fiscal targets and I can't imagine they

0:05:06 > 0:05:14want to move off that.He is a relatively staid, calm character.A

0:05:14 > 0:05:18cautious man!It will be ordered were he to throw caution to the

0:05:18 > 0:05:22wind, especially as we are literally months away from Brexit.Is

0:05:22 > 0:05:27interesting. I spoke to Rupert Harrison, former chief of staff to

0:05:27 > 0:05:32our former finance minister George Osborne. He said investors looking

0:05:32 > 0:05:36at Britain, and you need investors to fund budget deficit, will be

0:05:36 > 0:05:47thinking, there's the Brexit risk. The last thing we need is a

0:05:47 > 0:05:50government to suddenly signalled a change of strategy because they have

0:05:50 > 0:05:52the rock uncertainties which is the direction of travel. He was urging

0:05:52 > 0:05:55the Chancellor to be cautious, and you're quite right, he is a cautious

0:05:55 > 0:05:57man. I don't imagine we'll be sitting here tomorrow saying, that

0:05:57 > 0:06:01really change the dial on the way the budgets are operating. I'm sure

0:06:01 > 0:06:07there will be incremental changes but nothing is massive.He will be

0:06:07 > 0:06:12on his feet and about four hours you. Thank you both.

0:06:12 > 0:06:15Let's take a look at some of the other stories making the news.

0:06:15 > 0:06:18Ikea has re-launched a recall of millions of chests and dressers

0:06:18 > 0:06:20in the US and Canada following the death

0:06:20 > 0:06:21of an eighth child.

0:06:21 > 0:06:24It said items in its Malm range and other chests and dressers pose

0:06:24 > 0:06:32a "serious tip-over and entrapment hazard" if not secured to a wall.

0:06:32 > 0:06:35Meg Whitman is stepping down as chief executive of computer

0:06:35 > 0:06:36server maker Hewlett Packard Enterprise.

0:06:36 > 0:06:39During her six years in the post she oversaw one of the biggest

0:06:39 > 0:06:43corporate breakups in history.

0:06:43 > 0:06:49Shares of HPE fell more than 6% in after hours trading.

0:06:49 > 0:06:55Skype's caller messages -- Skype's app has been removed from source

0:06:55 > 0:06:58with China, after the government said it did not comply with local

0:06:58 > 0:07:06law, media suggests that the disruption started in October.

0:07:06 > 0:07:08And US prosecutors have charged an Iranian man

0:07:08 > 0:07:10with hacking into HBO, leaking Game of Thrones scripts

0:07:10 > 0:07:11and demanding a $6m ransom.

0:07:11 > 0:07:13Behzad Mesri is accused of computer fraud, wire fraud,

0:07:13 > 0:07:19extortion and identity theft.

0:07:19 > 0:07:21Uber has confirmed that it concealed a hack that affected 57 million

0:07:22 > 0:07:24customers and drivers in 2016.

0:07:24 > 0:07:26In the wake of the news, Uber's chief security officer

0:07:26 > 0:07:29Joe Sullivan has left the company.

0:07:29 > 0:07:31Companies are required to disclose significant data

0:07:31 > 0:07:37breaches to regulators, something Uber has,

0:07:37 > 0:07:43by its own admission, failed to do in this case.

0:07:43 > 0:07:45With me is Emily Orton, a cyber security analyst

0:07:45 > 0:07:48with the security firm Darktrace.

0:07:48 > 0:07:54Thank you for joining us. . Uber say there is no indication that critical

0:07:54 > 0:07:59details like bank details have been downloaded. Can we know that?The

0:07:59 > 0:08:04details are still emerging. We can't know that for certain at this stage

0:08:04 > 0:08:09but clearly whatever details there were, they are important enough for

0:08:09 > 0:08:12them to have failed to disclose it nearer the time this actually

0:08:12 > 0:08:15happened. Which goes to show that these data assets that the companies

0:08:15 > 0:08:21are holding our critical business assets now and they will be used

0:08:21 > 0:08:33against firms by criminals.57 million is a huge number, but also

0:08:33 > 0:08:37600,000 for their drivers, they've talked about ways of looking after

0:08:37 > 0:08:44them, do those ideas make sense, they talk about having a credit

0:08:44 > 0:08:47monitoring protection system for each of the drivers, will that help

0:08:47 > 0:08:52now?The data is potentially out there so I think that's probably

0:08:52 > 0:08:59little comfort to drivers who depend on Uber for their livelihood. Cyber

0:08:59 > 0:09:02security is very difficult problem. There is no silver bullet to this.

0:09:02 > 0:09:09This is remedial work. Trying to cover up the cracks at this point.

0:09:09 > 0:09:14Their silver bullet seems to have been, we will pay our way out of

0:09:14 > 0:09:17this, perhaps not a huge amount of money but to stop this being

0:09:17 > 0:09:25downloaded. How familiar picture is that now?Pretty familiar. It is a

0:09:25 > 0:09:28business decision whether or not you pay up. Either way, damage to their

0:09:28 > 0:09:32reputation. It begs the question how many companies have done a similar

0:09:32 > 0:09:35thing and we don't know about it. The reality is that the of

0:09:35 > 0:09:44corporations today have some kind of safeguard on their networks.We've

0:09:44 > 0:09:49had some responses on Twitter saying, quadruple the sanction! That

0:09:49 > 0:09:53would make them realise how important this is.And we have new

0:09:53 > 0:09:59regulations coming out now in force. There are a lot of new regulations

0:09:59 > 0:10:04that we do expect to be penalising companies, if they don't report

0:10:04 > 0:10:08against a breach like this in a timely manner.Emily, thank you very

0:10:08 > 0:10:14much indeed. Let's check the financial markets, investors back in

0:10:14 > 0:10:18buying mood this week, Hong Kong stocks broke the 30,000 mark for the

0:10:18 > 0:10:22first time in ten years as Asian markets took their cue from Wall

0:10:22 > 0:10:26Street, all three main indices in New York closing at all-time highs

0:10:26 > 0:10:32again. Tech firms the big winners, top firms like Apple, Amazon and

0:10:32 > 0:10:37Facebook and Google's parent company alphabet firming up around 1%.

0:10:37 > 0:10:41Australia's index continued the trend as well. But global rally has

0:10:41 > 0:10:51now reached Europe. The FTSE 100 and the Dax in Frankfurt and Paris index

0:10:51 > 0:10:52just up.

0:10:52 > 0:10:53And Samira Hussain has

0:10:53 > 0:10:58the details about what's ahead on Wall Street Today.

0:10:58 > 0:11:01The US Federal reserve, America's central bank will release the

0:11:01 > 0:11:04minutes from its October policy meeting. The policymakers kept

0:11:04 > 0:11:08interest rates unchanged during the meeting. They pointed to strong

0:11:08 > 0:11:13economic growth and strengthening Labour market. Earnings continue on

0:11:13 > 0:11:17Wednesday with one farm equipment maker dear and company reporting. It

0:11:17 > 0:11:23has benefited from higher international demand for its

0:11:23 > 0:11:26equipment. Investors will be keen to hear what the company expects going

0:11:26 > 0:11:27forward in 2018.

0:11:27 > 0:11:29Richard Dunbar is investment director at Aberdeen

0:11:29 > 0:11:31Standard Investments.

0:11:31 > 0:11:39Hello Richard. Let's talk about this global rally. It keeps going up, the

0:11:39 > 0:11:44likes of Tesla for example, they are finding it hard to actually produce

0:11:44 > 0:11:52the cars.It's a heady mix, low interest rates, profits in the US,

0:11:52 > 0:12:00and we are likely to get a tax boost as well so that's a helpful recipe.

0:12:00 > 0:12:04The leader in the US and other markets have followed, companies

0:12:04 > 0:12:08like Tesla generating cars, no lorries, not generating profits and

0:12:08 > 0:12:12not generating much cash, at some point this needs to change but

0:12:12 > 0:12:20investors for the moment are believers.Some say that bubbles are

0:12:20 > 0:12:25made to be burst. Will we get a bursting of a bubble?There are many

0:12:25 > 0:12:29stocks particularly in the technology sectors, some will do

0:12:29 > 0:12:32well and some will eventually generate earnings to justify these

0:12:32 > 0:12:36valuations, others won't. It's probably time to be cautious,

0:12:36 > 0:12:39particularly when we see in the US that interest rates are going up and

0:12:39 > 0:12:43it tends to be the price of money going up, that is the thing that

0:12:43 > 0:12:51pricks these bubbles.Many of us will have seen the jubilation in

0:12:51 > 0:12:53Zimbabwe after the resignation of Robert Mugabe. What will investors

0:12:53 > 0:13:01CMS? A turnaround for the Zimbabwean economy -- what will they CMS.They

0:13:01 > 0:13:07will see hope and expectation. Zimbabwe had many advantages,

0:13:07 > 0:13:10tourism, great mining sector, those opportunities have been squandered

0:13:10 > 0:13:14in the last 40 years. They may still be there but at the end of the day

0:13:14 > 0:13:19we still have Zanu-PF in power and still got the army supporting them,

0:13:19 > 0:13:24and we have a president likely to be one of Mugabe's henchmen so I

0:13:24 > 0:13:28perhaps would not hang out as much bunting as we saw last might on TV

0:13:28 > 0:13:33but the opportunity is there for a fabulous country.Would you hang out

0:13:33 > 0:13:37any bunting? This talk about the end of an era that is at the start of a

0:13:37 > 0:13:45new era? The suggestion from you is that probably isn't.I think it is

0:13:45 > 0:13:49best to be sceptical, those who are hungry in Zimbabwe yesterday will

0:13:49 > 0:13:53still be hungry today, there's work to be done because corruption is

0:13:53 > 0:13:58endemic yet the opportunity is there if those people wish to take it.

0:13:58 > 0:14:00Thank you, Richard. Richard will be back later to talk through the

0:14:00 > 0:14:03papers with us. Stay with us.

0:14:03 > 0:14:06Still to come, the gig economy seems to be everywhere -

0:14:06 > 0:14:08one company in Australia is cashing in making $90 million

0:14:08 > 0:14:09in transactions.

0:14:09 > 0:14:11We'll find out more in a few minutes.

0:14:11 > 0:14:21You're with Business Live from BBC News.

0:14:22 > 0:14:25Holiday prices for this winter are up 4% on a year ago,

0:14:25 > 0:14:28and for next summer travellers can expect to pay even more.

0:14:28 > 0:14:29That's according to Britain's second-largest holiday company,

0:14:29 > 0:14:33Thomas Cook, which has just published its full-year results.

0:14:33 > 0:14:40Let's get more from Simon Calder, travel editor at the Independent.

0:14:40 > 0:14:46Good to see you, Simon, how are they doing?Think they are doing pretty

0:14:46 > 0:14:52well, looking right across Europe. They have driven a up 9% to £9

0:14:52 > 0:14:58billion underlying profits up 8% to £330 million. They do say it was a

0:14:58 > 0:15:04tricky summer for the UK market. Basically because there was so much

0:15:04 > 0:15:07competition going into Spain. However Thomas Cook is reporting

0:15:07 > 0:15:13much stronger demand for Turkey and four Egypt. Both of which were hit

0:15:13 > 0:15:19by a slump in sales due to fears about terrorism. From February it

0:15:19 > 0:15:23becomes the first major tour operator to go back into Tunisia,

0:15:23 > 0:15:27which was on the Foreign Office know- the goal list for a couple of

0:15:27 > 0:15:33years until July this year. Looking positive overall but those prices

0:15:33 > 0:15:37you mention for a typical budget break at this time of year for which

0:15:37 > 0:15:43you might have paid £500 last winter that will cost an extra £20 and a

0:15:43 > 0:15:49two and half thousand pound family holiday would be £150 more expensive

0:15:49 > 0:15:54than this summer.Party to do with inflation of course, any other

0:15:54 > 0:15:57mention from Thomas Cook about the potential effects of Brexit? We

0:15:57 > 0:16:04heard from EasyJet yesterday.

0:16:04 > 0:16:08This is the real worry for a lot of travel companies, easyJet, Ryanair

0:16:08 > 0:16:14more likely to be affected and Thomas Cook, which has a strong

0:16:14 > 0:16:17component, and nobody thinks that holidays to Portugal, Spain, Croatia

0:16:17 > 0:16:22and Greece will be badly affected, but ultimately the travel industry

0:16:22 > 0:16:28is clamouring for an agreement on what happens to aviation after 2019,

0:16:28 > 0:16:31because of course it plans its operation is a good year in advance,

0:16:31 > 0:16:38and so they say we really need clarity by March 2018 at the very

0:16:38 > 0:16:43latest.OK, Simon Calder, many thanks for that update on Thomas

0:16:43 > 0:16:48Cook. We have got the Budget coming up, we have a live page for you to

0:16:48 > 0:16:52start following now. Just a quick headline, Philip Hammond must be

0:16:52 > 0:16:59cautious, saying never so investors, have a look online for that. --

0:16:59 > 0:17:01nervous investors.

0:17:01 > 0:17:06You're watching Business Live - our top story.

0:17:06 > 0:17:08The UK's finance minister says he will use today's Budget

0:17:08 > 0:17:10to make Britain an "outward looking, free-trading nation"

0:17:10 > 0:17:16ahead of Brexit in 2019.

0:17:16 > 0:17:19Now, taking on the gig economy at its own game.

0:17:19 > 0:17:20The start-ups which have disrupted traditional industries

0:17:20 > 0:17:23are now increasingly facing new competitors themselves.

0:17:23 > 0:17:25TaskRabbit was set up almost a decade ago

0:17:25 > 0:17:31as an online marketplace, helping you to find workers

0:17:31 > 0:17:32to complete odd jobs -

0:17:32 > 0:17:33including cleaning, moving in, or handyman work.

0:17:33 > 0:17:37Well, it's about to face new competition here in the UK

0:17:37 > 0:17:39from a Sydney-based start-up called Airtasker,

0:17:39 > 0:17:43which already has 2 million users across Australia.

0:17:43 > 0:17:49Set up in 2012, it processes $75m worth of tasks a year.

0:17:49 > 0:17:54Tim Fung is the founder and CEO of Airtasker.

0:17:54 > 0:18:01Hello there. Tell us how this. And, you were being ask to do odd jobs

0:18:01 > 0:18:09for a friend, somebody wanted you to help out? -- tell us how this all

0:18:09 > 0:18:14started.I was moving house, and I asked a friend with a track, come

0:18:14 > 0:18:18over and help me move apartments, cleaning et cetera. At the end of

0:18:18 > 0:18:23the weekend, he says, this is the fourth time I have been ask to do

0:18:23 > 0:18:29this kind of job, everyone says the same thing, you have got a truck,

0:18:29 > 0:18:33can you help us move? So there are so many people across the world who

0:18:33 > 0:18:41are looking to do some jobs, to earn some extra money.Shelves and

0:18:41 > 0:18:45curtains in my house, definitely! I want to ask you, could that cause

0:18:45 > 0:18:48friction? You might be asking somebody to do a job for you who

0:18:48 > 0:18:52ordinarily would have done it for free, and now they will say, no, you

0:18:52 > 0:18:57need to pay me for this.Some of these jobs which are done for free

0:18:57 > 0:19:01are probably costing you in relationship equity with family and

0:19:01 > 0:19:04friends, you might think it is free, but they are probably thinking,

0:19:04 > 0:19:10those guys asking me again!They will pay one way or another! Give us

0:19:10 > 0:19:14a sense of the nuts and bolts of this, of the range of stuff you are

0:19:14 > 0:19:19doing. It sounds like pretty everyday stuff, which is fairly

0:19:19 > 0:19:25good, but a bit more to and from time to time.The market has a lot

0:19:25 > 0:19:29of jobs like cleaning and handyman jobs, but what Airtasker is doing

0:19:29 > 0:19:32differently is allowing people to create any kind of work that they

0:19:32 > 0:19:37want as a job for another person. So whether it is getting someone to fly

0:19:37 > 0:19:41to Paris to drop off syngas is... For real?These are all happening

0:19:41 > 0:19:48every day. One of the great ones I saw yesterday was somebody who

0:19:48 > 0:19:53wanted a Game Of Thrones themed date night for their partner, so they had

0:19:53 > 0:19:58someone design the entire apartment. I cannot believe there is not a

0:19:58 > 0:20:01company already doing that! You have already linked in with some

0:20:01 > 0:20:05quite well-established companies, providing services for them,

0:20:05 > 0:20:09building furniture, for example.In Australia, furniture assembly is

0:20:09 > 0:20:19done through IKEA, you can hire an Airtasker to do that. We'll so have

0:20:19 > 0:20:26a company called Good Guys for electrical installations.Aren't you

0:20:26 > 0:20:29a classic example of a company that takes business away from other

0:20:29 > 0:20:34people? Maybe you have experienced that, it is great that people are

0:20:34 > 0:20:38getting bits and pieces, but other people are losing part of their jobs

0:20:38 > 0:20:41because of it?The vast majority of the jobs on Airtasker were already

0:20:41 > 0:20:46traditionally done in the independent contract model, so a

0:20:46 > 0:20:49tradesperson, electrician or plumber, already independent

0:20:49 > 0:20:52contractors. That is about half of the market. The other half is

0:20:52 > 0:20:56entirely new jobs that have been created, so it is hard to hire

0:20:56 > 0:21:02someone as a tree rescuer, but these are jobs being created out of thin

0:21:02 > 0:21:08air.What kind of redress do you have if the shelves fall down? Do

0:21:08 > 0:21:12you have come back?We have a great community support team, which

0:21:12 > 0:21:16supports all of the Airtasker platform, we're public liability

0:21:16 > 0:21:20insurance which covers if things go wrong. We also have insurance for

0:21:20 > 0:21:26our workers, so if they are injured, they can get continuity of income.

0:21:26 > 0:21:30Do you vet the workers?We provide police checks, background checks,

0:21:30 > 0:21:36trade licences, so if you are looking for someone who will come

0:21:36 > 0:21:39into your house, you probably want to have someone who has had a

0:21:39 > 0:21:42background check, whereas if you are a small business and you want

0:21:42 > 0:21:47someone to do a letterbox drop, you probably do not want somebody who

0:21:47 > 0:21:51was necessarily...Don't you drive down wages by opening this up to

0:21:51 > 0:21:55anybody to do a job that a tradesman would do?The great thing is that

0:21:55 > 0:21:58our business model is ending a commission on the mat of endings

0:21:58 > 0:22:06that a worker makes, so we are for increased wages for workers. So we

0:22:06 > 0:22:14are being an agent, we are the representative, and what we don't do

0:22:14 > 0:22:24is show transparency with what other people are doing.You have suggested

0:22:24 > 0:22:29you are at 0.1% of your potential, which suggests a vast opportunity.

0:22:29 > 0:22:34There will be people tried to copy this very quickly.Definitely, and

0:22:34 > 0:22:38we are surprised that the market for these platforms is not as large as

0:22:38 > 0:22:43you would think in this day and age, but certainly we think it is a

0:22:43 > 0:22:46massive market, and we're going to be doing everything we can.Thank

0:22:46 > 0:22:48you very much indeed for joining us.

0:22:48 > 0:22:52In a moment, we'll take a look through the business pages,

0:22:52 > 0:22:55but first here's a quick reminder of how to get in touch with us.

0:22:55 > 0:22:57The Business Live page is where you can stay ahead

0:22:57 > 0:23:00of all the day's breaking business news.

0:23:00 > 0:23:02We'll keep you up-to-date with all the latest details

0:23:02 > 0:23:04with insight and analysis

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0:23:31 > 0:23:36Richard is back to look through the papers with us, let's first of all

0:23:36 > 0:23:41start with this story about how the Australian government is investing

0:23:41 > 0:23:46in bitcoin, or at least in a firm that is listed on the crypto

0:23:46 > 0:23:50currency exchange.It is very interesting that the whole

0:23:50 > 0:23:54blockchain thing is becoming much more mainstream, and firms like our

0:23:54 > 0:24:00own are looking at how we can use blockchain plumbing for the crypto

0:24:00 > 0:24:05currency in our businesses. I think governments will be wondering how

0:24:05 > 0:24:10they can use this technology.Is this a step away from talking about

0:24:10 > 0:24:18bitcoin, which still has a row gravitation, you can see governments

0:24:18 > 0:24:20saying that they might be uncomfortable.Blockchain is the

0:24:20 > 0:24:27plumbing that supports bitcoin and other artificial currencies, and I

0:24:27 > 0:24:31think we will see a lot of brainpower and thought in that

0:24:31 > 0:24:35direction, rather than speculating on the currencies themselves.This

0:24:35 > 0:24:40story in the Wall Street Journal, a fake and operation used to steal

0:24:40 > 0:24:44from publishers, what has been happening here, essentially,

0:24:44 > 0:24:48publishers have been giving money to them that are not what they say they

0:24:48 > 0:24:54are.It is a traditional fraud, albeit online, advertisers have been

0:24:54 > 0:25:01fooled by fake websites, advertising on the sites that don't really

0:25:01 > 0:25:04exist, they are not showing these adverts to customers like you and I,

0:25:04 > 0:25:11so they lose, the publishers lose, and the public loos. But it is a

0:25:11 > 0:25:15traditional Ford, but in this area, and we are seeing more and more of

0:25:15 > 0:25:22that. -- traditional fraud.The environment department, 1400

0:25:22 > 0:25:30disposable cups a day, we have asked for your views, I am using a

0:25:30 > 0:25:36reusable mug that I bought in 1999. Somebody else says, but a 15p task

0:25:36 > 0:25:41on them.Because the coffee is hard, I used to have them, I am twice as

0:25:41 > 0:25:48bad!Used a flask, it will stay hard all day long!A tax and a nudge,

0:25:48 > 0:25:54that is what we have seen on plastic bags.Thank you Ray much, Richard,

0:25:54 > 0:25:58good to see you. Thanks for watching, bye for now.