0:00:07 > 0:00:09This is Business Live from BBC News with Ben Bland
0:00:09 > 0:00:10and Samantha Simmonds.
0:00:10 > 0:00:13It's a multi-billion dollar bonanza.
0:00:13 > 0:00:16Black Friday sales have spread around the world but how much extra
0:00:16 > 0:00:18will we actually spend?
0:00:18 > 0:00:22Live from London, that's our top story on Friday 24th November 2017.
0:00:37 > 0:00:40The post-Thanksgiving discounts started in America
0:00:40 > 0:00:43but retailers are looking to cash in on the holiday spending
0:00:43 > 0:00:44season everywhere.
0:00:44 > 0:00:47Also in the programme...
0:00:47 > 0:00:50China gives us the details of its plans to cut import tariffs
0:00:50 > 0:00:53so will it help the rest of the world sell more
0:00:53 > 0:00:57to the world's biggest market?
0:00:57 > 0:01:02We will be keeping an eye on the markets. A bit of a lacklustre start
0:01:02 > 0:01:06on the European indices with London being outperformed by Frankfurt,
0:01:06 > 0:01:07Paris and Madrid.
0:01:07 > 0:01:10And we'll be getting the inside track on Britain's
0:01:10 > 0:01:12productivity riddle and what the US Fed's latest minutes tell us
0:01:12 > 0:01:14about where the world's biggest economy is heading
0:01:14 > 0:01:17with our Economics Correspondent, Andrew Walker.
0:01:17 > 0:01:20One factory in Sweden has started burning unwanted clothes to make
0:01:20 > 0:01:24clean energy instead of using oil and gas.
0:01:24 > 0:01:26And as Black Friday sees people grabbing bargains on new clothes,
0:01:26 > 0:01:28what do you do with your old ones?
0:01:28 > 0:01:29Let us know.
0:01:29 > 0:01:38Just use #BBCBizLive.
0:01:38 > 0:01:47Hello and welcome to Business Live.
0:01:47 > 0:01:50Don't you say I should have burned that tie!
0:01:50 > 0:01:52It's the Friday after Thanksgiving and for millions
0:01:52 > 0:01:54of Americans that means one thing - shopping.
0:01:54 > 0:01:59Black Friday has come to signal the start of the Christmas shopping
0:01:59 > 0:02:01season with big discounts to tempt buyers.
0:02:01 > 0:02:04And, as with so much else, what started in the US,
0:02:04 > 0:02:06the world's biggest economy, has spread rapidly around
0:02:06 > 0:02:09the world to become one the busiest times of the year
0:02:09 > 0:02:12for the global retail business.
0:02:12 > 0:02:16There have already been queues at US shopping centres.
0:02:16 > 0:02:18Altogether 164 million people are expected
0:02:18 > 0:02:20to shop this weekend - that's over half the
0:02:20 > 0:02:26country's population.
0:02:26 > 0:02:28And that means make-or-break time for the many US retailers who see
0:02:28 > 0:02:3130% to 40% of their annual sales come between Black
0:02:31 > 0:02:33Friday and Christmas.
0:02:33 > 0:02:38The spending has already started here in the UK too,
0:02:38 > 0:02:40where spending is expected to reach the equivalent of $2.4
0:02:40 > 0:02:43million per minute.
0:02:43 > 0:02:46An increasing share of that is being done not in stores,
0:02:46 > 0:02:50but on phones and tablets.
0:02:50 > 0:02:53Online spending today is predicted to be up 15% on last year,
0:02:53 > 0:02:57hitting $1.5 billion.
0:02:57 > 0:02:59Joining us now is Maureen Hinton.
0:02:59 > 0:03:05She's the Group Research Director at the retail analysts Global Data PLC.
0:03:05 > 0:03:10I don't know if you're going to be doing any shopping, I think I will
0:03:10 > 0:03:16be! Is it getting bigger and bigger? $2.4 million every minute in the UK
0:03:16 > 0:03:20we are expected to spend.It is definitely getting bigger having
0:03:20 > 0:03:24started about five years ago and it has really taken off, one of the big
0:03:24 > 0:03:29events now but it has pulled forward the January sales into November so
0:03:29 > 0:03:35it is challenging for some of the retailers.Are there true bargains
0:03:35 > 0:03:40to be had? It is not just one day, it is over a week and one report
0:03:40 > 0:03:44said that around 60% of items could be found cheaper at other times of
0:03:44 > 0:03:50the year. How do we know if we are getting a deal?I think some
0:03:50 > 0:03:56consumers are getting a bit cynical now. But the retailers are producing
0:03:56 > 0:04:02true bargains, somebody like Dixons the lexical retailer -- electrical
0:04:02 > 0:04:07retailer, they are bringing in products with low prices so there
0:04:07 > 0:04:15are bargains to be had.I have heard it said by prominent business people
0:04:15 > 0:04:19that Black Rider is bad for customers and bad for businesses. --
0:04:19 > 0:04:25Black Friday.It is bad for clothing retailers. In the UK what would have
0:04:25 > 0:04:29happened but for if we would have had January sales after Christmas
0:04:29 > 0:04:34and as consumers we would have been willing to pay full price for
0:04:34 > 0:04:38clothing and beauty and gifts and toys but now all of those are being
0:04:38 > 0:04:42slashed and they are not making a profit they could do from before.
0:04:42 > 0:04:47And the big thing seems to be tablets and smartphones, I am using
0:04:47 > 0:04:52these for work and not shopping! But a lot of people are and that is
0:04:52 > 0:04:57contributing to do it.Definitely because it is so easy to compare
0:04:57 > 0:05:01prices quickly, you can go into store and asked if that is the best
0:05:01 > 0:05:04price, maybe see if you could get it somewhere else and then there is the
0:05:04 > 0:05:11convenience of ordering online. It is convenient for the consumer.Can
0:05:11 > 0:05:17you see it continuing? It has been going five years in this country,
0:05:17 > 0:05:19but business insider were reporting that they don't think it is going to
0:05:19 > 0:05:25last much longer.I think it is going to take a while before it
0:05:25 > 0:05:33peters out in the UK. It is quite well-established now. Some retailers
0:05:33 > 0:05:36would like it to peter out but it is going to spread across the
0:05:36 > 0:05:41continent.Will you be doing some shopping?The Billy Knott, I'm too
0:05:41 > 0:05:47busy, but maybe this evening!-- probably not. I have had my eye on
0:05:47 > 0:05:52address for weeks and I'm hoping is discounted! But this is another
0:05:52 > 0:05:58point, I went into the shop and ask them if it would be discounted! They
0:05:58 > 0:06:02sit it was unlikely because it was a top seller and that is the point,
0:06:02 > 0:06:07they shift the stuff they cannot get rid of! Your tastes are clearly too
0:06:07 > 0:06:17good!You might have to wait until January.It might have gone by then!
0:06:17 > 0:06:22Maureen Tom thank you very much. Our director said she did her shopping
0:06:22 > 0:06:27on a smartphone on the way in that she has not said what she bought
0:06:27 > 0:06:31them in must have been our Christmas present! Let's have a look at some
0:06:31 > 0:06:32other stories now.
0:06:32 > 0:06:34Uber has been given the green light for its tie-up
0:06:34 > 0:06:35with Russia's Yandex.
0:06:35 > 0:06:37Reuters is reporting that the ride-hailing merger has
0:06:37 > 0:06:39been approved by the country's competition authorities
0:06:39 > 0:06:44if certain conditions are met.
0:06:44 > 0:06:47Uber has spent more than $200 million on the venture with Yandex
0:06:47 > 0:06:49which is Russia's biggest internet company.
0:06:49 > 0:06:55Angela Merkel's hope of another term in charge of Europe's biggest
0:06:55 > 0:06:56economy have received a boost.
0:06:56 > 0:06:59Germany's Social Democrats have said they will now hold talks over
0:06:59 > 0:07:00breaking the political deadlock since September's
0:07:00 > 0:07:01inconclusive election.
0:07:01 > 0:07:04Mrs Merkel's former coalition partners had said they wouldn't take
0:07:04 > 0:07:08part in any new government.
0:07:08 > 0:07:12A key part of YouTube's system for reporting people who leave
0:07:12 > 0:07:15sexualised comments on videos of children has not been functioning
0:07:15 > 0:07:17correctly for more than a year according to volunteer moderators
0:07:17 > 0:07:19with inside knowledge of the site.
0:07:19 > 0:07:22A BBC investigation found a flaw in a tool that enables
0:07:22 > 0:07:24the public to report abuse.
0:07:24 > 0:07:26YouTube has denied any technical failure, and says content
0:07:26 > 0:07:32that endangers children is abhorrent and unacceptable.
0:07:32 > 0:07:34The scandal around Mitsubishi Materials demonstrates "a betrayal
0:07:34 > 0:07:36of trust in Japanese manufacturing" according to the country's
0:07:37 > 0:07:39Economy and Trade Minister.
0:07:39 > 0:07:41On Thursday the company became the latest to apologise for faking
0:07:41 > 0:07:43quality control data.
0:07:43 > 0:07:46Shares in the company, which is part of the same
0:07:46 > 0:07:51group as the car firm, closed more than 8% down in Tokyo.
0:07:53 > 0:07:56China's government has unveiled some of the details about its plan to cut
0:07:56 > 0:07:59import tariffs for a range of consumer products.
0:07:59 > 0:08:02The changes could help companies who want to sell to the world's
0:08:02 > 0:08:03biggest consumer market.
0:08:03 > 0:08:09Our correspondent Robin Brant is in Shanghai.
0:08:09 > 0:08:17Explain more.Good news if you are trying to export whiskey to China,
0:08:17 > 0:08:23also some skiing products and pharmaceutical products and maybe
0:08:23 > 0:08:28some hats because they are among the 187 products that will see the duty
0:08:28 > 0:08:32imposed by the Chinese government reduced. On average it will come
0:08:32 > 0:08:43down from around 17.5% to 7%. It is more on some items, vermouth is
0:08:43 > 0:08:47coming down, and whiskey has been halved. The explanation given is
0:08:47 > 0:08:50that these are products mainly in demand among the wealthy middle
0:08:50 > 0:08:54class that you cannot really get in China because they are not made
0:08:54 > 0:08:58domestic league and the government wants to increase the supply of
0:08:58 > 0:09:03these high-quality products -- domestically. Is it significant? I
0:09:03 > 0:09:09don't think so frankly. It is a move on the tariffs. We will have to see
0:09:09 > 0:09:15if retailers pass it on. But if you are Ford and you want to bring in
0:09:15 > 0:09:19expensive cars to this country can you still pay 25%, if you bring in
0:09:19 > 0:09:24food that will still have 14%. And these are not the big structural
0:09:24 > 0:09:32changes that were talked about by President Xi talked about. Come and
0:09:32 > 0:09:39Baxter is coming here wanting to make and sell cars, they still had
0:09:39 > 0:09:44to do a joint-venture -- car manufacturers.Robin in Shanghai,
0:09:44 > 0:09:48thank you.
0:09:48 > 0:09:51Asian markets mostly rose but investors moved warily on Friday
0:09:51 > 0:09:55after a sharp sell-off in Shanghai the previous day fuelled concerns
0:09:55 > 0:09:57of fresh turmoil in China's markets specifically.
0:09:57 > 0:10:01Chinese shares dropped to three-month lows on concerns
0:10:01 > 0:10:03about fresh government steps to curb financial risks and rise
0:10:03 > 0:10:10in Chinese bond yields.
0:10:10 > 0:10:16US markets closed for Thanksgiving and the euro extended gains against
0:10:16 > 0:10:20the dollar after data showed the Eurozone economy continued to
0:10:20 > 0:10:26improve while job creation came in at its fastest pace in 17 years.
0:10:26 > 0:10:31This is how the European indices look at the start of the day lacking
0:10:31 > 0:10:34direction really having opened slightly higher but now turning into
0:10:34 > 0:10:39the negative. This is a look ahead of what is coming up on Wall Street.
0:10:39 > 0:10:42It's the Friday after the Thanksgiving holiday
0:10:42 > 0:10:45here in the US, and markets are open for trading, but volumes
0:10:45 > 0:10:48are generally light on this day as many people have taken the day
0:10:48 > 0:10:53off to recover from too much turkey.
0:10:53 > 0:10:59The big business story for the day will obviously be Black Friday.
0:10:59 > 0:11:01It marks the beginning of the holiday season of shopping,
0:11:01 > 0:11:03and many stores will be offering deals to get customers
0:11:03 > 0:11:04through their doors.
0:11:04 > 0:11:07There is also some economic news to pay attention to.
0:11:07 > 0:11:08The latest purchasing managers' index, or PMI
0:11:09 > 0:11:10numbers, will be out today.
0:11:10 > 0:11:12Now, this is important because it reflects the health
0:11:12 > 0:11:15of the manufacturing sector.
0:11:15 > 0:11:17And it's based on five major indicators.
0:11:17 > 0:11:19New orders, inventory levels, production, supplier deliveries
0:11:19 > 0:11:24and the employment environment.
0:11:24 > 0:11:26Joining us is Sue Noffke, UK Equities Fund Manager
0:11:26 > 0:11:32from Schroders.
0:11:32 > 0:11:38Looking at the Chinese markets, they are cooling off, what is your take?
0:11:38 > 0:11:43We did see the biggest one-day fall for 17 months on Thursday. It is
0:11:43 > 0:11:47important to put it into the context of how strong the Chinese stock
0:11:47 > 0:11:53market has been in the last six months. From early May it is up
0:11:53 > 0:12:01nearly 30%. There were some profits to be taken. And what did markets
0:12:01 > 0:12:04take fright at? That was the government indication that they
0:12:04 > 0:12:10might be trying to tighten that liquidity which is Willie Watt has
0:12:10 > 0:12:15fuelled the economy and the stock market. -- really what has fuelled.
0:12:15 > 0:12:20Turning briefly to the UK budget, a big statement from the finance
0:12:20 > 0:12:25minister this week. It was rather gloomy but the market did not seem
0:12:25 > 0:12:30to take much fright and nor were they particularly excited.
0:12:30 > 0:12:36Definitely in the round this was what was anticipated. I think some
0:12:36 > 0:12:42of the forecasts were a bit stale. Market forecasts had been running
0:12:42 > 0:12:49ahead of the OBR and the Institute for Fiscal Studies. The downgrades
0:12:49 > 0:12:56we have seen to growth to the 1.5% level were not a surprise, no
0:12:56 > 0:12:59material impact on sterling or interest rate or the stock market.
0:12:59 > 0:13:05And what about oil prices? They have rallied.They have been quite
0:13:05 > 0:13:14robust. The six up week in seven, and at levels not seen since the
0:13:14 > 0:13:18middle of 2015 so pretty good. It depends which price you want to use,
0:13:18 > 0:13:27Brent is in the 60 or WTI is in the high 50s. That is a much better
0:13:27 > 0:13:31number for oil producers, whether that is individual companies
0:13:31 > 0:13:37particularly in the US and elsewhere but also oil-producing countries
0:13:37 > 0:13:42very much need those revenues.And they have suffered quite a lot, some
0:13:42 > 0:13:47having to completely rethink their reliance on oil and they might be
0:13:47 > 0:13:51taking a bit of heart as a result of this.That's right and there is also
0:13:51 > 0:13:56support from Opec with another meeting coming up on Thursday and it
0:13:56 > 0:13:59is a question of whether they can agree to prolong their cuts into
0:13:59 > 0:14:05early next year.Great to have you with us, thank you for coming in and
0:14:05 > 0:14:08we will see you later.
0:14:08 > 0:14:11We'll get the Inside Track on the signals the latest US Fed
0:14:11 > 0:14:14minutes give us on the world's biggest economy with our
0:14:14 > 0:14:15Friday Editor, Andrew Walker.
0:14:15 > 0:14:21You're with Business Live from BBC News.
0:14:25 > 0:14:29One of Britain's biggest brewers has warned of economic
0:14:29 > 0:14:32uncertainty in a "tough and highly competitive" market.
0:14:32 > 0:14:35Fullers owns hundreds of pubs, largely in the south of England,
0:14:35 > 0:14:37and brews the famous London Pride.
0:14:37 > 0:14:42It's reported a 10% rise in profits before tax
0:14:42 > 0:14:46of £23.6 million in the six months to the end of September.
0:14:46 > 0:14:49But it's warning "economic and political uncertainty"
0:14:49 > 0:14:51could cause further challenges on top of the rising costs
0:14:51 > 0:14:53it's already facing.
0:14:53 > 0:14:55Joining us from the London Stock Exchange is Simon Emeny, the chief
0:14:55 > 0:15:04executive of Fuller Smith & Turner.
0:15:04 > 0:15:10So how worried are you about the future of brewing as a business?I
0:15:10 > 0:15:14think none of us are approaching 2018 from an economic perspective
0:15:14 > 0:15:19with stunning confidence, but we feel that as a business we are in
0:15:19 > 0:15:23exceptionally good shape. We have continued to invest in our pubs,
0:15:23 > 0:15:27people and processes. So whilst I don't think that we will get any
0:15:27 > 0:15:30favours from the UK economy, I think there is a considerable amount that
0:15:30 > 0:15:35we can do to continue to improve our business.What's your reaction to
0:15:35 > 0:15:47the alcohol price freeze in the budget this week?I think it has
0:15:47 > 0:15:49been really reassuring that the Chancellor is really listening to
0:15:49 > 0:15:52the issues that the hospitality industry faces. This has been a year
0:15:52 > 0:15:56when the industry has faced with unprecedented costs, and to give
0:15:56 > 0:15:58reprieve to some businesses on business rates was a good sign. He
0:15:58 > 0:16:02needs to go further on business rates, the system is outdated and
0:16:02 > 0:16:06urgently needs reform, but it was an encouraging budget for the industry.
0:16:06 > 0:16:10We went through a stage where it seemed like every week, almost every
0:16:10 > 0:16:14day, we would being told that pubs are closing, struggling to survive.
0:16:14 > 0:16:20We pass that now?I think it is stabilising more. The industry, we
0:16:20 > 0:16:25are still opening pubs, we have two brand-new station site opening in
0:16:25 > 0:16:282018, and I think these pubs are better equipped to cope with the
0:16:28 > 0:16:32needs of a modern consumer, particularly around fresh food,
0:16:32 > 0:16:36craft beer and great service. So whilst you still see some pubs
0:16:36 > 0:16:40closing, you see fantastic new pubs opening, and we will continue to
0:16:40 > 0:16:43invest in refurbishing our pubs and opening new ones.Simon, thank you
0:16:43 > 0:16:56very much, Simon Emeny there.
0:16:56 > 0:17:02Lots of cat videos on Argos if you are sick of Black Friday! Who
0:17:02 > 0:17:07doesn't want to see those.
0:17:09 > 0:17:13You are watching Business Live. Our top story: Black Friday sales have
0:17:13 > 0:17:21begun in the United States and around the world. A quick look at
0:17:21 > 0:17:25how the markets are faring at the start of the trading day in Europe.
0:17:25 > 0:17:28Seemingly lacking direction a bit, they have opened slightly higher but
0:17:28 > 0:17:34now moving into the red, fairly flat in Paris, and that is what the pound
0:17:34 > 0:17:43is doing against the dollar, just above 1.30 three. -- 1.33.
0:17:43 > 0:17:46Now it's our chance to look back on some of the biggest business
0:17:47 > 0:17:48stories of the week.
0:17:48 > 0:17:51Here in the UK the budget gave us another insight on the public
0:17:51 > 0:17:53finances and in the US the clues were in the Federal
0:17:53 > 0:17:54Reserve's latest minutes.
0:17:54 > 0:17:56Andrew Walker is our Economics
0:17:56 > 0:17:59Correspondent.
0:17:59 > 0:18:01He's here to talk about the main points
0:18:01 > 0:18:08from the UK budget.
0:18:08 > 0:18:15The Chancellor bases his predictions on the office but it was the Luthi,
0:18:15 > 0:18:18and they have downgraded their forecast of economic growth, they
0:18:18 > 0:18:24are expecting around 1.5% per year over the next four or five years.
0:18:24 > 0:18:29That compares with figures in excess of 2.5% in the years before, in the
0:18:29 > 0:18:32quarter of a century before the financial crisis. What is behind
0:18:32 > 0:18:39that downgrade is the OBR finally giving up on the expectation that
0:18:39 > 0:18:42there is going to be a really decisive rebound in productivity
0:18:42 > 0:18:46growth, which is essentially the amount each worker produces, either
0:18:46 > 0:18:52over the course of a year or just one hour. And because it is not
0:18:52 > 0:18:56expecting this long delayed recovery in productivity to come through, it
0:18:56 > 0:19:00does mean that it is going to have adverse financial implications for
0:19:00 > 0:19:05the Government, they are going -- we are going to be paying less in tax
0:19:05 > 0:19:08than we would otherwise have been if there was this improvement in
0:19:08 > 0:19:12productivity.And to clarify this point. When they said productivity,
0:19:12 > 0:19:16are they essentially saying that UK workers are not working hard enough?
0:19:16 > 0:19:25Absolutely not.Just you!It is not bad. It has economists are
0:19:25 > 0:19:29scratching their heads about what is going on. One factor is perhaps the
0:19:29 > 0:19:33business investment has rebranded quite weakly after the financial
0:19:33 > 0:19:35crisis, nowhere near as strongly as it recovered after previous
0:19:35 > 0:19:41recessions. Very low interest rates may be another factor. It enables
0:19:41 > 0:19:45some low productivity businesses to survive that might not have survived
0:19:45 > 0:19:50had they had higher borrowing costs. And there is also the possibility
0:19:50 > 0:19:55actually that perhaps things are little better than the data suggest,
0:19:55 > 0:19:59because we are not measuring the impact of technological change on
0:19:59 > 0:20:02what we produce quite as well as we should. Certainly there is some
0:20:02 > 0:20:06evidence that that explains a bit of it, but only a bit.Let's move on to
0:20:06 > 0:20:12the US Fed minutes. They seemed a bit confused, and also divided. What
0:20:12 > 0:20:18did we learn?They certainly are divided about just how worried they
0:20:18 > 0:20:22should be about the inflationary invitations of the very strong
0:20:22 > 0:20:27American jobs market. The rate of new job creation, they think, is not
0:20:27 > 0:20:33sustainable in the long-term without an increase in inflation. But at the
0:20:33 > 0:20:35same time, there are some members of the policy-making committee who
0:20:35 > 0:20:42think that, who are getting worried about the persistent level of
0:20:42 > 0:20:46inflation being too low, and so that is giving them some significant
0:20:46 > 0:20:49divisions about just how quickly they should be raising interest
0:20:49 > 0:20:54rates. We are still expecting a rate rise next month, but beyond that, it
0:20:54 > 0:21:00is quite clear that they are again, as we have been here in the UK about
0:21:00 > 0:21:03other things, scratching their heads about what the real state of the
0:21:03 > 0:21:07American jobs market is.Andrew, we can see some pretty jubilant scenes
0:21:07 > 0:21:11in Zimbabwe, we can see some pictures of that right now. A big
0:21:11 > 0:21:18day as Emmerson Mnangagwa is sworn in as Robert Mugabe exited the
0:21:18 > 0:21:26stage. Some pretty heart-warming views from the IMF for them?Yes and
0:21:26 > 0:21:33no. The IMF is quite clear that the Zimbabwe economy has, and I quote,
0:21:33 > 0:21:36huge potential. But they do think there is an awful lot of work to be
0:21:36 > 0:21:40done to put right what they see as the damage that has been done to the
0:21:40 > 0:21:45economy under Robert Mugabe. They think there is a lot of work that
0:21:45 > 0:21:50needs to be done in sorting out the public finances. Too much spending
0:21:50 > 0:21:53on inefficient agricultural support, civil service salaries. Crowding out
0:21:53 > 0:21:57private sector investment, politically difficult to deal with
0:21:57 > 0:22:01those kind of problems.Andrew, thank you very much.
0:22:01 > 0:22:06Andrew Walker is our Economics Correspondent.
0:22:06 > 0:22:10It seems that now there is a nap for pretty much everything, and in Kenya
0:22:10 > 0:22:15it is a matter of life and death. A new app is making it a lot easier to
0:22:15 > 0:22:19summon the emergency services.
0:22:39 > 0:22:46You just take for granted that 911 exists. The average person in
0:22:46 > 0:22:50Nairobi had no idea what number to call. And when you ask them they
0:22:50 > 0:22:53would say, that is a good point. What will I do?
0:23:19 > 0:23:25We have different ambulance companies. We work together to make
0:23:25 > 0:23:27it.
0:23:34 > 0:23:41There was once times that we have seen has gone down from 162 minutes,
0:23:41 > 0:23:45which was the average, which is nearly three hours, which is insane,
0:23:45 > 0:23:54down to 15-20 minutes.
0:23:54 > 0:23:56Let's see what other stories are being talked
0:23:56 > 0:23:59about on social media.
0:23:59 > 0:24:09The Bank of England have announced that they pay a quarter more to men
0:24:09 > 0:24:13than to women. Sue Noffke is with us again.The Bank of England has been
0:24:13 > 0:24:19the latest company to have to be more transparent about its pay
0:24:19 > 0:24:24rates. And we can see what the gaps are. They are taking measures to
0:24:24 > 0:24:30close that. They have made progress in recent years. And they have set a
0:24:30 > 0:24:34target as to where they want to be to close further that gap in a
0:24:34 > 0:24:42couple of years' time.And a power plant in Sweden burning unwonted
0:24:42 > 0:24:47unused clothes instead of call and oil. A genius idea?It is a great
0:24:47 > 0:24:51idea, and we are seeing fossil fuel type power stations moving to
0:24:51 > 0:24:56alternative fuel sources, so we are seeing in Sweden but that can be
0:24:56 > 0:25:03clothing that is mouldy or unfit for use. It can be sustainable biofuels,
0:25:03 > 0:25:12so it can be compressed pieces of wood and shavings of wood. We can
0:25:12 > 0:25:15see copy grounds, used coffee grounds, powering London buses.That
0:25:15 > 0:25:18is a question we have been asking this morning, what do you do with
0:25:18 > 0:25:26your clothes when you are done with them? We have had for quite a few
0:25:26 > 0:25:35responses. One viewer says that she makes patchwork stars. Jack says he
0:25:35 > 0:25:38bends them, and Maisie says give them to charities, homeless or free
0:25:38 > 0:25:43cycle, depending on what it is and the condition. Only suitable for
0:25:43 > 0:25:47rags? Given to the local garage to use as class.
0:25:47 > 0:25:52And Ben just doesn't throw anything away! Sue
0:25:52 > 0:25:56And Ben just doesn't throw anything away! Sue, thank you very much.
0:25:56 > 0:25:59There will be more business news throughout the day on the BBC Live