0:00:04 > 0:00:09This is Business Live from BBC News with Ben Thompson and Sally Bundock.
0:00:09 > 0:00:11Uber faces more scrutiny over it's huge data breach.
0:00:11 > 0:00:16Will Europe take the pressure up a gear?
0:00:16 > 0:00:19Live from London, that's our top story on Tuesday
0:00:19 > 0:00:21the 28th of November.
0:00:33 > 0:00:35It's just one of the crises that's prompted Japan's Softbank
0:00:35 > 0:00:38to slash its offer as it tries to buy a big chunk of
0:00:38 > 0:00:42the ride-hailing app.
0:00:42 > 0:00:46Also in the programme...
0:00:46 > 0:00:51The Bitcoin bandwagon rolls on.
0:00:51 > 0:00:53The virtual currency passes the $10,000 on some exchanges
0:00:53 > 0:00:58but is it too good to be true?
0:00:59 > 0:01:03The markets are looking like this as we get the first results from the
0:01:03 > 0:01:06Black Friday and cyber Monday weekend. All the details from New
0:01:06 > 0:01:09York.
0:01:10 > 0:01:16weekend. All the details from New York. And we get details on how to
0:01:16 > 0:01:24tackle mental health challenges. And what is the regular in your
0:01:24 > 0:01:28Christmas stocking? Are you affected, let us know. All the usual
0:01:28 > 0:01:38ways to get in touch.
0:01:38 > 0:01:43We will talk about that a little later, my favourite, Toblerone we
0:01:43 > 0:01:47have discussed at length, that has got smaller and now chocolate
0:01:47 > 0:01:51oranges we are told are doubling in price. I am not happy. Send all your
0:01:51 > 0:01:56messages in. But first...
0:01:56 > 0:01:58It seems Uber is never far from the headlines these days...
0:01:59 > 0:02:00Some good AND some bad.
0:02:00 > 0:02:02Today, more details on the bid by Japan's Softbank to buy
0:02:02 > 0:02:05a stake in the company.
0:02:05 > 0:02:09It values Uber about $69bn.
0:02:09 > 0:02:12But it comes on the same day that European regulators examine
0:02:12 > 0:02:17the massive data breach at the firm.
0:02:17 > 0:02:19Uber admitted last week that hackers stole personal details
0:02:19 > 0:02:23from 57 million customers and drivers last year.
0:02:23 > 0:02:30The company originally covered up the breach.
0:02:30 > 0:02:31One estimate suggests the attack could cost Uber
0:02:32 > 0:02:34between $200 - $250 million.
0:02:34 > 0:02:39A big cost for a company yet to make a profit.
0:02:39 > 0:02:41Several EU countries including Austria, Italy and the UK -
0:02:41 > 0:02:45are already investigating the data theft.
0:02:45 > 0:02:50The EU's data protection group - COULD now choose to coordinate
0:02:50 > 0:02:51these investigations.
0:02:51 > 0:02:54And things could get even trickier for Uber.
0:02:54 > 0:02:57Next year a NEW EU body takes over the data protection role -
0:02:57 > 0:03:02and will have power to impose fines of 4% of global turnover
0:03:02 > 0:03:10or 20 million euros.
0:03:10 > 0:03:12Aatish Pattni is Head of Threat Prevention
0:03:12 > 0:03:20for Northern Europe at the global cyber-security firm Checkpoint.
0:03:20 > 0:03:30Good morning. We've outlined the situation as far as Uber is
0:03:30 > 0:03:34concerned, the ramifications for the data breach on a pretty Sirius.I
0:03:34 > 0:03:38think we've seen the number of breaches happening with companies
0:03:38 > 0:03:42over the last few years have escalated, the response government
0:03:42 > 0:03:48agencies are now taking, just a couple of weeks ago there was news
0:03:48 > 0:03:54and another company, Yahoo has been one of them, government looking at
0:03:54 > 0:03:58enforcing penalties on these organisations.Reasonably bad is
0:03:58 > 0:04:04good news for those of us who use these companies?Absolutely. The
0:04:04 > 0:04:08legislation that the cyber, the more emphasis there is in organisations
0:04:08 > 0:04:16to look at data security. The better protected we are at consumers. --
0:04:16 > 0:04:21presumably bad is good news. There are new data protection rules coming
0:04:21 > 0:04:27in? From the end of May the legislation comes in across Europe
0:04:27 > 0:04:33including the UK and it will give consumers the right to be forgotten
0:04:33 > 0:04:37so if we do want data to be removed from a company we can have bad but
0:04:37 > 0:04:44it also puts an onus on the actual organisation who holds your data to
0:04:44 > 0:04:46enforce good data security measures around that data and if they don't
0:04:46 > 0:04:52they will then be fined.As we outlined, they will be fined, Uber
0:04:52 > 0:04:55is likely to be fined quite a bit, how does this work out that the
0:04:55 > 0:05:01United States, we talk about Europe but in the US it's a different
0:05:01 > 0:05:05story? There could be conflict going forward?There is potential for
0:05:05 > 0:05:10conflict, at the moment the US within the US each state has the
0:05:10 > 0:05:15ability to impose fines, I think ultimately what you see is those
0:05:15 > 0:05:19fines being imposed by organisations as well as the European fines.The
0:05:19 > 0:05:24outlook for Uber, this happened last year, bad headline after bad
0:05:24 > 0:05:28headline and millions all over the world are using them to get around.
0:05:28 > 0:05:33That's one of the challenges, we find it so can be no to use these
0:05:33 > 0:05:37apps that they almost have a following within the consumer base.
0:05:37 > 0:05:42It's just the convenience, isn't it? More than anything? It really
0:05:42 > 0:05:47appeals to consumers but what we are also seeing is consumers are now
0:05:47 > 0:05:52getting more savvy about where their data sets and the bad reputational
0:05:52 > 0:05:56damage is quite severe so I think you will see some consumers leaving
0:05:56 > 0:06:01Uber, we've seen it with other organisations.We will watch this
0:06:01 > 0:06:04space, thank you for your time.
0:06:04 > 0:06:06So we've talked about the data breach, but what about that proposed
0:06:06 > 0:06:09investment in Uber by the Japanese tech giant Softbank.
0:06:09 > 0:06:14Mariko Oi is following this from our Asia Business Hub.
0:06:14 > 0:06:20Just bring us up to date, it seems from what we've seen that they are
0:06:20 > 0:06:24saying, we want a discount, we want to buy but we wanted more cheaply,
0:06:24 > 0:06:27given all of this chaos as the result of the hacks that we've been
0:06:27 > 0:06:35discussing?Indeed. I should emphasise neither Uber zero Softbank
0:06:35 > 0:06:40would confirm or deny the reports as we've been talking about this. But
0:06:40 > 0:06:47Softbank has made a bid to buy Uber shares, about 14% of them at a heavy
0:06:47 > 0:06:52discount. If the deal goes ahead Softbank will be buying this stock
0:06:52 > 0:07:00for nearly 30% less than Uber most recent valuation which came in at
0:07:00 > 0:07:03$69 billion, that makes it one of the most valuable start-up companies
0:07:03 > 0:07:09in the world. These could be the details of the investment by
0:07:09 > 0:07:12Softbank that Uber approved two months ago but it hasn't been
0:07:12 > 0:07:18confirmed by neither. We haven't known the size of the potential
0:07:18 > 0:07:23investment, there could be more details Uber said the money would
0:07:23 > 0:07:27fuel expansion and investment in technology.Thank you. I note you
0:07:27 > 0:07:31will stay right across that story when you get comment from either
0:07:31 > 0:07:34side. A bit of a protracted negotiation.
0:07:34 > 0:07:37Let's take a look at some of the other stories making the news...
0:07:37 > 0:07:40The leaders of Ireland's two biggest political parties resume talks today
0:07:40 > 0:07:43to avoid a fresh general election - that could affect Brexit talks.
0:07:43 > 0:07:45The Irish Prime Minister is standing by his deputy despite calls
0:07:45 > 0:07:50for her to resign over a controversy involving a police whistleblower.
0:07:50 > 0:07:53It could lead to a vote of no confidence in the Irish
0:07:53 > 0:07:56parliament later today.
0:07:57 > 0:07:58Another Japanese company has admitted faking
0:07:59 > 0:08:02quality control tests.
0:08:02 > 0:08:05Toray Industries says it found 149 cases of cheating test results
0:08:05 > 0:08:08at a subsidiary but insists there are no safety concerns.
0:08:08 > 0:08:11The world's largest maker of carbon fibre said the cheating involved
0:08:11 > 0:08:15tyre-strengthening cords.
0:08:15 > 0:08:19Its shares closed down more than 5%.
0:08:19 > 0:08:21Indonesian officials have extended the closure of the international
0:08:21 > 0:08:27airport in Bali because of continued fears of a major volcanic eruption.
0:08:27 > 0:08:30Tens of thousands of tourists are trapped because volcanic ash
0:08:30 > 0:08:33is disrupting air travel.
0:08:33 > 0:08:36As many as 100,000 people have been ordered to evacuate
0:08:36 > 0:08:39the area around Mount Agung.
0:08:47 > 0:08:51Let's show you what the numbers are doing, US markets hitting a new
0:08:51 > 0:08:56record, they have fallen back in the last few minutes, but off the back
0:08:56 > 0:09:02of strong retail results from Black Friday cyber Monday. Initial reports
0:09:02 > 0:09:08suggesting Black Friday sales up 17% from a year ago, not bad given the
0:09:08 > 0:09:12fact that we are told we must squeeze our incomes. But that could
0:09:12 > 0:09:16be done to heavy discounts and that will affect profits. We note US
0:09:16 > 0:09:22stocks had a tough time of late. All the big names including Macy's
0:09:22 > 0:09:29facing the falls in share prices. Let's take a look at Europe. Looking
0:09:29 > 0:09:33pretty closely at the Bank of England stress test results. They've
0:09:33 > 0:09:37been published this morning amid worries credit levels are reaching
0:09:37 > 0:09:40dangerous highs. You may remember the Bank of England asked UK banks
0:09:40 > 0:09:46to set aside more cash to prove a buffer in case the economy took a
0:09:46 > 0:09:49turn for the worse, people had somewhat debt on their own balance
0:09:49 > 0:09:54sheet they would struggle to pay back, all of them currently passing
0:09:54 > 0:09:58the test, we talk more about that later Ulster
0:09:58 > 0:10:06And Samira Hussain has the details about what's ahead
0:10:06 > 0:10:07the details about what's ahead
0:10:07 > 0:10:13on Wall Street Today.
0:10:13 > 0:10:19is and was all important given how much of the US economy depends on
0:10:19 > 0:10:22consumer spending.The more confident people feel about their
0:10:22 > 0:10:26finances the more likely they are to spend money. In other news the
0:10:26 > 0:10:31Senate tanking committee will hold a confirmation hearing for Jerome
0:10:31 > 0:10:36Powell, selected by President Trump to replace Janet Yellen as the chair
0:10:36 > 0:10:41of the US Federal Reserve. TransCanada Corporation will hold an
0:10:41 > 0:10:44investor day in Toronto, this is when the company may finally safe
0:10:44 > 0:10:49whether it plans to go ahead with a long-delayed and very controversial
0:10:49 > 0:10:53keystone pipeline project and finally, the numbers are out, the
0:10:53 > 0:10:57National retail Federation, a leading retail industry group, is
0:10:57 > 0:11:01set to release pending doubter and thanksgiving, Black Friday and cyber
0:11:01 > 0:11:11Monday.
0:11:19 > 0:11:23Joining us is Remi Olu-Pitan, a Multi-asset Fund Manager, Schroders.
0:11:23 > 0:11:29We see a bit coin reaching new levels, give us your take on this
0:11:29 > 0:11:40phenomenon.It's extraordinary. It was just under $100 and now it's
0:11:40 > 0:11:42about $10,000 psychological level, it's nearly 1000 percentage
0:11:42 > 0:11:51increase. It's phenomenal. What matters about bit coin, a lot of
0:11:51 > 0:11:57commentators say is this another tulip kind of phenomenon? What's
0:11:57 > 0:11:59really key is locked chain technology, that's what's going to
0:11:59 > 0:12:06make a difference to the world.And it already is.In the financial
0:12:06 > 0:12:09sector. It already is in the financial sector. This will make a
0:12:09 > 0:12:13difference to the average person. Let's explain locked chain, is
0:12:13 > 0:12:20fiendishly combo catered. I am going to use a very broad brush, no
0:12:20 > 0:12:23government, no bank, institution controls the data and it's all
0:12:23 > 0:12:28shared by computers around the world, you own a bit of it. That
0:12:28 > 0:12:31means it is free from all constraints.And it supposedly
0:12:31 > 0:12:39transparent. And it's fast, that's why it's really key for the
0:12:39 > 0:12:42financial industry, it means transactions, very quick. It speeds
0:12:42 > 0:12:48things up and it makes a difference. It's... Sorry, I didn't want to
0:12:48 > 0:12:50interrupt you but we are being told to move on, what are you watching
0:12:50 > 0:12:57today? We're watching the US confidence data, the Bank of England
0:12:57 > 0:13:02stress test.Quite a bit going on. It is quite exciting, the US
0:13:02 > 0:13:07consumer data is key, we had like Friday, cyber Monday and there has
0:13:07 > 0:13:11been heavy discounting, we want to get a feel about how consumers feel,
0:13:11 > 0:13:16what is the make-up of the economy, how healthy is it, or people eyeing
0:13:16 > 0:13:22and either discounts getting people out? That is key. That consumer data
0:13:22 > 0:13:26is key in the US and UK and Europe. We will hear about Europe, quite a
0:13:26 > 0:13:32busy week from that point of view. You not finished, more work to do
0:13:32 > 0:13:39business live, you will be back later. Chocolate Orange. Do you like
0:13:39 > 0:13:45chocolate orange? I love it. Getting more expensive, apparently.
0:13:45 > 0:13:46Safeguarding employee's mental health alongside
0:13:46 > 0:13:47their physical health.
0:13:47 > 0:13:50We meet the woman with an award-winning app designed
0:13:50 > 0:13:51to tackle mental health.
0:13:51 > 0:13:55You're with Business Live from BBC News.
0:14:05 > 0:14:09Britain's seven largest lenders have passed the Bank of England's stress
0:14:09 > 0:14:14tests for the first time since the financial crisis.
0:14:14 > 0:14:17It's the first time since the tests have been introduced that none of
0:14:17 > 0:14:21the major lenders are required to find extra capital. So they didn't
0:14:21 > 0:14:28fail?
0:14:28 > 0:14:30Our Business Correspondent, Theo Leggett, joins us
0:14:30 > 0:14:34from the Business Newsroom to tell us more.
0:14:34 > 0:14:39The Bank of England are saying it's good news. In terms of who passed
0:14:39 > 0:14:42and failed, it's worth mentioning measures of these banks capital were
0:14:42 > 0:14:48taken at the end of last year and on that basis, Royal Bank of Scotland
0:14:48 > 0:14:51and Barclays would both have failed, the reason they are deemed to have
0:14:51 > 0:14:55passed because since then they have taken measures to increase the
0:14:55 > 0:15:00capital cushions so the Bank of England says they are OK now.
0:15:00 > 0:15:04Outlook of the criteria that the banks put into place, it's war for
0:15:04 > 0:15:10banks. The UK economy shrinking by four points 7%, house prices falling
0:15:10 > 0:15:15by a third, the pound sterling declining by 27%, this is an extreme
0:15:15 > 0:15:20stress scenario and the bank says on these criteria at the moment, the
0:15:20 > 0:15:25seven biggest lenders in the UK are set.But also something that Mark
0:15:25 > 0:15:29Carney has been highlighting is his concern about the buy to let
0:15:29 > 0:15:37mortgage side of the banking business. His worry about that area.
0:15:37 > 0:15:41Well, he's not the only one who is worried. There are experts who are
0:15:41 > 0:15:46worried that too much of this is going on and in an event of a
0:15:46 > 0:15:50downturn in the housing market the banks would wrack up the losses.
0:15:50 > 0:15:53Some people think as well that the banking stress tests aren't robust
0:15:53 > 0:15:58enough. They don't give an accurate picture of how well the lenders
0:15:58 > 0:16:02would be able to with stand a major shock. They think the banks need a
0:16:02 > 0:16:05greater capital buffer, but the counter argument to this is if they
0:16:05 > 0:16:09are setting more money aside, they wouldn't have as much to lend and
0:16:09 > 0:16:14that could harm the economy.Theo, thank you very much. More on the BBC
0:16:14 > 0:16:21Business Live page. Including this from our economics
0:16:21 > 0:16:26editor talking as Theo was mentioning there, disorderly Brexit
0:16:26 > 0:16:30is unlikely according to Mark Carney. He says all parties are
0:16:30 > 0:16:34working towards avoiding it. The full details are on the Business
0:16:34 > 0:16:44Live page.
0:16:46 > 0:16:53European regulators come together to assess Uber's data breach of 2016.
0:16:53 > 0:16:5857 million users, whether they be Uber customers, or Uber drivers,
0:16:58 > 0:17:01their data was breached last year and at the time the company tried to
0:17:01 > 0:17:05cover it up. Yes, back in the spotlight for all the wrong reasons
0:17:05 > 0:17:08again. Let me show you what is happening on
0:17:08 > 0:17:13European markets. A stronger day to events in Europe. Keeping a close
0:17:13 > 0:17:19eye on the Bank of England's stress test as we have discussed. All the
0:17:19 > 0:17:22UK banks passing the requirements to have reserves should the economy
0:17:22 > 0:17:26take a turn for the worse. We have been hearing from the governor about
0:17:26 > 0:17:31whether he foresee as disorderly Brexit. He says that's unlikely.
0:17:31 > 0:17:33Now, there's growing awareness amongst employers that taking care
0:17:33 > 0:17:36of their employee's mental health is just as important as safeguarding
0:17:36 > 0:17:38their physical health.
0:17:38 > 0:17:40Figures now suggest one in four people will
0:17:40 > 0:17:43experience a mental health problem each year and it's an issue
0:17:43 > 0:17:47Hanna Chamberlain has been trying to tackle.
0:17:47 > 0:17:50She won this year's Stelios Award for Disabled Entrepreneurs
0:17:50 > 0:17:52named after the Easyjet founder with her app called Mental Snap
0:17:52 > 0:17:54where users can record short video diaries,
0:17:54 > 0:17:56rate their mood and name their feeling.
0:17:56 > 0:18:02She's with us this morning.
0:18:02 > 0:18:09Good morning.Good morning. Congratulations on winning the
0:18:09 > 0:18:13disability award set-up by the Stelios Foundation. Tell us more
0:18:13 > 0:18:19about how your app works?You record a short video clip on your mood. You
0:18:19 > 0:18:23can record it on any aspect of your mood and you name your feelings and
0:18:23 > 0:18:30you rate your mood. So it comes from the instinct of telling stories. And
0:18:30 > 0:18:35that being a therapeutic thing for people to do and in fact they are
0:18:35 > 0:18:39naming their feelings and rating their mood also introduces another
0:18:39 > 0:18:42level of therapeutic effect.Who watches these videos?No one.
0:18:42 > 0:18:48They're private. They're completely for you.And therefore, is this a
0:18:48 > 0:18:52sense by recording your feelings you see maybe yesterday you felt low and
0:18:52 > 0:19:00today you feel better and it is an wareness that things change and what
0:19:00 > 0:19:03is the psychology behind it, is it thinking you can get through this
0:19:03 > 0:19:07because yesterday you felt better? There is the watching yourself back
0:19:07 > 0:19:10element, but the process of telling your story is important. If you have
0:19:10 > 0:19:13a mental health condition, you're often documented by other people and
0:19:13 > 0:19:18you don't often get the opportunity to tell your own story and believing
0:19:18 > 0:19:23your own story and owning your own narrative from your own point of
0:19:23 > 0:19:26view is vital for recovery.This is something that you and your husband
0:19:26 > 0:19:30has set-up.That's right.This is an issue that's been a challenge for
0:19:30 > 0:19:34you personally. So you've experienced provision for mental
0:19:34 > 0:19:39health as a patient, but also as someone helping others. So is this
0:19:39 > 0:19:44what partly inspired you to take this path?Absolutely. I started
0:19:44 > 0:19:49making films about mental health because of the need to tell my own
0:19:49 > 0:19:52mental health story and then as I started to make films with other
0:19:52 > 0:19:56people, I found that not only did I find it helpful, but actually so
0:19:56 > 0:20:01many people found it helpful. The camera sees you and hears you, it is
0:20:01 > 0:20:07an incredible validator and actually from our earliest days, mummy,
0:20:07 > 0:20:11daddy, camera are our three earliest relationships. It is a really strong
0:20:11 > 0:20:16figure in our lives and can form a powerful therapeutic effect.You
0:20:16 > 0:20:20talk about the mirror effect. Explain to me the idea of and this
0:20:20 > 0:20:25is how the app works, you see yourself with the selfie camera one
0:20:25 > 0:20:29way, but it will spin the other way around. Explain that.When you see
0:20:29 > 0:20:35yourself on a camera in selfie mode, you see your familiar face. As soon
0:20:35 > 0:20:41as you press stop, it automatically flips in the camera. So you go from
0:20:41 > 0:20:44seeing yourself as you know yourself, to seeing yourself as your
0:20:44 > 0:20:48friends do. And actually it introduces a level of distance so
0:20:48 > 0:20:52people feel that they are not so absorbed in the moment, they can
0:20:52 > 0:20:55ditached from it, but people are saying that as they record, they
0:20:55 > 0:20:58feel like they're making a new friend and that friend is
0:20:58 > 0:21:01themselves. And this is something you've worked
0:21:01 > 0:21:05with in terms of mental health and film, the relationship for 20 years,
0:21:05 > 0:21:09but have you felt in the recent few years, the profile of mental health
0:21:09 > 0:21:13has been cut, you know, has been much more up there. There is real
0:21:13 > 0:21:17momentum behind this at the moment, isn't there?There is, indeed and
0:21:17 > 0:21:21the Royal Family have got a big part to play in that and there are
0:21:21 > 0:21:25celebrities who have come out and talked about that. The Stelios Award
0:21:25 > 0:21:31is a fantastic thing to win because Stelios' ethos is to with mass
0:21:31 > 0:21:34markets and democratising and this is an amazing opportunity for mental
0:21:34 > 0:21:37health, not to be just about one in four, we know there is one in four,
0:21:37 > 0:21:40but mental health is something everyone has got.Helen, remind me
0:21:40 > 0:21:44of the day in November when you won the award, was it 14th November?It
0:21:44 > 0:21:48was.The reason I ask you, thank you very much Helen for being on the
0:21:48 > 0:21:53programme and congratulations again because on 14th November we had an
0:21:53 > 0:21:58interview with Stelios, of course, the man who created easyJet and Easy
0:21:58 > 0:22:02Group and he was talking about that foundation and the disability award
0:22:02 > 0:22:08and more. So you can look on the BBC iPlayer and watch it. You went down
0:22:08 > 0:22:13to chat with him about that. We will talk about the business pages in a
0:22:13 > 0:22:19moment, but first a great story that we've found at the BBC.
0:22:19 > 0:22:21Not much you can change about a cash machine right?
0:22:21 > 0:22:24Put your card in, type a number and out comes cash.
0:22:24 > 0:22:27Apparently not - one of the world's biggest makers of cash machine has
0:22:27 > 0:22:29come up with a new ATM that it thinks is a game-changer.
0:22:57 > 0:23:02When I go to the ATM, it is much more vivid, much more vibrant.
0:23:02 > 0:23:06In terms of the colours, I can zoom, I can pinch,
0:23:06 > 0:23:10I can do what I would expect to do on the screen on my phone
0:23:10 > 0:23:11or my tablet as an example.
0:23:11 > 0:23:13I can initiate a video session with somebody
0:23:13 > 0:23:15at the bank to assist me.
0:23:22 > 0:23:32It really changes the game for what an ATM is from,
0:23:37 > 0:23:39you know, a machine that dispenses cash
0:23:39 > 0:23:41to a whole new sort of mobile ready
0:23:41 > 0:23:43experience for the consumer.
0:23:44 > 0:23:49Welcome. How can I help you today?
0:23:52 > 0:23:58Sure, no problem at all.
0:24:10 > 0:24:16Many financial institutions are rethinking how many branches they
0:24:16 > 0:24:19have to have, where exactly those branches need to be and the purpose
0:24:19 > 0:24:29of those specific branches.
0:24:32 > 0:24:37Remi Olu-Pitan is back.
0:24:37 > 0:24:43That interview with Stelios is on our website. Remi is back. We were
0:24:43 > 0:24:50talking about shrinkflation. This came to the fore when the gaps
0:24:50 > 0:24:57between Toblerone got wider. Now we've got the Terry's chocolate
0:24:57 > 0:25:02orange.It has increased by 36% compared to last year.Why is that?
0:25:02 > 0:25:06This depends where you buy it.It depends where you buy it. But on
0:25:06 > 0:25:11average it has increased by 36%. It is a shock to the wallet
0:25:11 > 0:25:16particularly for those of us who have a sweet tooth. The
0:25:16 > 0:25:20confectionery industry have had a lot of inflation and now they are
0:25:20 > 0:25:23passing it on to the consumers. There is so much competition when it
0:25:23 > 0:25:28comes to those with sweet tooth. Consumer trends are changing. There
0:25:28 > 0:25:32is a lot of competition. There is so much on offer. It is getting hard
0:25:32 > 0:25:36for the confectionery companies to make a profit. And that's why we are
0:25:36 > 0:25:41seeing higher prices.And when look at Christmas and we know
0:25:41 > 0:25:47across-the-board and it is not just confectionery, it is potatoes,
0:25:47 > 0:25:51turkey, carrots. Inflation will bite this Christmas?I think we had it
0:25:51 > 0:25:54easier last year, but it is really coming through this year and that's
0:25:54 > 0:25:57because these prices are coming through. They are being passed on to
0:25:57 > 0:26:02us. Reme, thank you. Sorry it's so
0:26:02 > 0:26:07brief. A lot to fit in. Bye-bye.