Browse content similar to 29/11/2017. Check below for episodes and series from the same categories and more!
This is Business Live from BBC News
with Ben Thompson and Sally Bundock.
A focus on the future.
A major summit between leaders
from the EU and Africa
kicks off in Ivory coast,
but will it really
Live from London, that's our top
story on Wednesday, 29th November.
Can EU money give Africa the
economic boost it needs? Britain
makes a significantly higher offer
to settle its Brexit divorce bill so
says the media, so will this clear
the way for trade talks to finally
begin? And on financial markets, you
can see this is how Europe is faring
at the moment. On the minds of
traders, all sorts. A missile launch
out of North Korea, US tax reform,
the Fed and Bitcoin. We'll talk you
through the movers and the shakers.
And we'll be getting the inside
track on testing for diabetes -
without drawing blood.
We will meet the man behind the firm
that says it is using just
lasers to instantly find
out your glucose levels.
He will be here to explain how it
And amid new warnings that robots
will force 700 million workers
into new jobs over the next decade,
we want to know - what job do
you hate and would happily
let a robot do for you?
Let us know, use the
hashtag BBC BizLive.
Hello and welcome to Business Live.
Don't hold back, but keep it clean
so we can share your suggestions
with our viewers on Business Live!
Rarely can the west African
nation of Ivory Coast have
seen anything like it.
Dozens of EU and African leaders
are gathering to discuss how the two
continents can work together
to improve their citizens lives.
Both sides have a lot at stake.
Although it's fallen substantially,
migration has been one
of the defining issues.
1.75 million people made the journey
to Europe over the last four years.
With many coming through Africa
even if they started elsewhere.
Many Africans have been
pushed to leave by poverty
and war the EU and it's member
states are already providing almost
$24 billion a year in long-term
economic development funding.
There are also calls
for more bilateral trade
between the two continents.
Last year they sold each just over
$311 billion worth of goods -
with Africa buying more from the EU
than the EU bought from Africa.
Africa is a young Continent. 60% of
the population is under 25.
Unemployment though is a massive
problem and it is only getting
worse. The number of young people is
expected to double in the next
Every year we have more
than 5,000 students who graduate
from university and less than 5%
find a job. Because of all the
difficulties, we know more and more
young people who aspire to go abroad
to foreign countries and Europe to
follow their dream.
two-thirds of young people in Africa
work in the informal economy. There
is no insurance. No safety net and
incomes hover around $2 a day.
20-year-old Natalie left school-aged
seven. When she is not selling
vegetables, she is making clothes.
I would like to open a
bigger sewing workshop and open
other workshops too, but I don't
have money to do that. If I had
someone who could invest in me, that
would be great. We're asking the
world to help young people here.
future of young people is what
presidents, Prime Ministers and
policy makers are in Abidjan to talk
about. Jobs, education, and the
crucial question, how to keep them
from making the deadly journey to
I think it is very
understandable that young people
look to go to places where they have
opportunities to develop. So, I
think, our challenge and our task is
really to create such an environment
here because I mean I think it's
very human that any human would stay
in the place where he or she was
born in there are opportunities on
Hundreds of thousands of young
Africans make the treacherous trip
to Europe every day. If their
situations at home don't change,
this is only going to get worse.
It appears there MAY have been
a breakthrough in one of the key
sticking points over Brexit.
Yes, the UK has made
a bigger offer to the EU for
the so-called divorce payment.
That could pave the way
for trade talks to begin.
Leila Nathoo is our
correspondent at Westminster.
It is interesting this, a lot of
people have been hanging on to every
word about whether there is or there
is not a deal, but the big question
is if there is a deal, how much is
it going to cost the UK?
been one of the most politically
sensitive parts of the whole Brexit
procession the cost of leaving, how
much money will we claim from the EU
when Britain leaves and how much
money will we have to pay out in
order do so? Theresa May had made an
offer in her Florence speech, the
major Florence speech that Britain
was going to continue paying into
the EU budget until 2020, so no
country would be left worse off or
no other EU country would have to
pay more. Brussels made it clear
that wasn't enough and they were
expecting a bigger offer, but last
week, Theresa May had managed to get
her Cabinet Ministers on side to
persuade them, even Brexiteers that
actually upping the financial offer
was what was needed to persuade
Brussels to get those talks on to
trade. Now, this is all in the
lead-up to a summit in a couple of
weeks' time when EU leaders will
decide whether sufficient progress
has been made on the so-called
divorce matters of which the Brexit
bill was one of the main sticking
points. So, we understand now that
the Government has made this revised
offer, although the upper limit that
we understand, 55 billion euros is
something that the British
Government is saying it is not
recognising and certainly no
specific figure has been agraoud
yet, neither side are confirming
anything of the sort, but it is
understood that that has been
broadly welcomed in Brussels and so,
it seems one of the major obstacles
so far seems to be receding.
you very much indeed.
So Downing Street being tight lipped
about the numbers, but just talking
in Berlin, the European chief Brexit
negotiator, that's Michel Barnier,
he actually said to his audience in
Berlin, the security conference
there, that he hopes to report in
the coming days, an agreement with
Britain on the financial terms of
withdrawal. So the impression we are
getting is that a deal has been
done, but as we say, we don't know
the actual figures.
Yes, watch this space.
Let's take a look at some of
the other stories making the news.
The London Stock Exchange says chief
executive Xavier Rolet will step
down with immediate effect
and chairman Donald Brydon will not
stand for re-election in 2019.
It follows speculation that
Mr Rolet, who has been in the top
job for nine years,
is being forced out as boss
of the London exchange.
Apple says it's working to fix
a serious bug in the latest version
of its Mac operating
system, High Sierra.
The error makes it possible
to access the machine
without a password and
change its settings.
It also allows access to important
We've had a rare glimpse
into the finances of
the ride-hailing app Uber.
Documents released as part
of its efforts to raise investment
from Japan's Softbank show losses
growing to almost $1.5 billion
in the three months to September.
Bookings for rides
brought in $9.7 billion.
It comes as the company suffered
another setback in the US.
A judge has delayed a trade secrets
trial amid concerns that Uber
withheld evidence from the court.
The United States has launched
another trade investigation
into imports from China.
This time it's if aluminium alloy
sheets which are in the cross hairs
of the Trump administration.
Trump was just here in Asia,
two-and-a-half weeks ago. He had a
wonderful visit in China, but it
seems like Sally the lustre of the
US President's trip to the mainland
has really quickly faded away.
Unimpressed by Beijing's progress in
North Korea and market opening
initiatives, the US is now rolling
out as he mentioned an investigation
into aluminium sheet imports worth
hundreds of millions of dollars each
year and this enquiry will examine
if aluminium sheets is being sold
below cost or with the help of the
Government subsidies. The United
States imported $600 million of
aluminium alloy sheets last year and
Washington is calling this probe
intended to advance President
Trump's tough on trade agenda. The
Commerce Department said it has
evidence that the imports pose a
threat to the US industry and this
case will be investigated by the
international trade commission with
final decisions expected by next
year and if anti-dumping duties are
indeed imposed, it could be as high
We will keep a close eye on that. I
imagine Beijing's reaction won't be
Asia was reacting to that missile
test coming from North Korea. The
first one for some 75 days. So, that
has kept traders busy in terms of
the geopolitics and what could
happen next, but they are reacting
to the night before on Wall Street.
A 1% climb on Wall Street. Also the
Bitcoin going over $10,000. It has
been a busy period of time.
And Samira Hussain has
the details about what's ahead
on Wall Street Today.
Janet Yelland will TV on Capitol
Hill. This comes two weeks before
the Central Bank's next policy
meeting. Where it is widely expected
to raise interest rates again for
the third time this year. Now, it
will also likely be her last
appearance before lawmakers with a
replacement Fed governor Jerome
Powell set to take over as leader as
early as next year. Also happening
on Capitol Hill a confirmation
hearing for US President Trump's
pick for the next to be the next
health and human services secretary.
Served as an executive a
pharmaceutical company at the time
when the company was accused of
colluding with other pharmaceutical
companies to set prices on insulin
and other diabetes drugs. So
Democrats will likely grill him on
his plans to tackle drug pricing and
whether he planses to uphold
Tom Stevenson is Investment Director
at Fidelity International.
So we were touching on Brexit
earlier and we heard from our
correspondent that perhaps a deal
has been agreed. We don't know any
details yet. We've heard from Michel
Barnier saying they're still working
on Brexit terms, but already we have
seen a reaction on the currency
Yeah, that's right. Michel
Barnier's comments were interesting.
He does suggest within days and that
probably means on Monday when there
is a meeting between Prime Minister
Theresa May and Jean-Claude Juncker,
we could get an announcement. The
pound has been positive. We are
above a dollar 34 and that's
interesting because we have seen a
reaction in the stock market as
well. Despite record highs on the US
markets, the FTSE 100 is down this
morning and that's a reflection of
the pound rising because that's bad
news for UK exporters and overseas.
We have seen the opposite when the
pound has been falling.
A weak pound
has been good for the FTSE 100.
us your interpretation of why the
pound has strengthened today? Is
that because the expectation is yes,
trade talks, negotiations can maybe
start in the near future or is it
some assessment of the divorce
bill's size, what do you think?
Well, I think it is a positive
assessment of the fact that we are
edging closer towards actually
starting the trade talks. I think
what we shouldn't forget though is
that the divorce bill, settling that
bill, even if it is at £55 billion
is just one part of the equation.
We've also got the issue of EU
citizens rights in the UK and more
importantly, what's going on with
the Irish border. That still seems
like a really intrabletable issue if
we come out of the customs union, if
we come out of the single market, it
is hard to see how we can avoid a
hard border in Ireland and that of
course, could be a blockage to the
Watch and wait and see.
, Monday, we will keep a close eye.
Tom, thank you. I know you will talk
through the newspaper stories with
us later. Which includes robots.
Still to come...
The end of the finger prick?
We meet the man behind
the firm that says
it can test your glucose without
you having to give any blood.
And it's all done with lasers.
We'll speak to him shortly.
You're with Business
Live from BBC News.
Let's focus on the big story in the
Transport Secretary Chris Grayling
says new rail projects could unlock
economic growth across the country.
He wants to expand Britain's rail
network, looking at restoring
services that were lost to cuts
in the '60s and '70s and to address
overcrowding faced by
many train operators.
Anyone who travels by train in this
country, I'm sure your ears are
tuning in. Let's get more from our
economic correspondent Andrew
Walker. Ben is shaking his head.
Tommy macro, what is the government
This is a wide ranging
rethink of rail strategy. There's
quite a lot in it. Proposals to
change some of the franchises, break
up some of the larger ones. More
integrated working between trade and
rail company is. There is no
question, the eye-catching stop is
the suggestion we could see some
reversal of some of the lines that
were cut back in the 1960s and
1970s, those cuts in the 1960s
notoriously known as the Beeching
cuts, Richard Beeching was the
chairman of the tissue Rail at the
time. The document talks about one
proposal that is already underway,
that is to re-establish the full
length link between Oxford and
Cambridge. Part of that is already
running again but there is the
proposal to get the full length of
that line running again. Beyond
that, they are inviting ideas for
reopening other local lines and in
particular the government wants
proposals that will encourage new
housing developments, that will
encourage new economic development
or perhaps to divert congestion away
from other parts of the transport
network. We don't have a list of
exactly what is going to be, but
clearly the potential for quite
significant restoration of old lines
Andrew, thanks very much. We
will leave it there. There's a lot
more detail on that story on our
website. Our transport correspondent
Richard Wescott has been looking at
all these latest developments and
what they mean and a gauge of some
of the reaction, as well.
For more reaction to the story we
brought you earlier, news that the
London stock exchange's chief
executive is to quit, apparently he
could walk away with a payoff of
nearly £13 million. He's been in the
job about eight years, so he gets a
salary at the moment of about
£800,000, but to mark his departure
he could get £12.8 million. The
details either on BBC Business Live
You're watching Business Live -
our top story - the meeting
of dozens of EU and African leaders,
gathering to discuss how the two
continents can work together
to improve education,
skills and jobs and address worries
over mass migration to Europe.
There are more than 400 leave people
with diabetes over the world who
need to monitor their blood sugar
levels. The global market for
devices that help people do that is
huge. It's worth about $9 billion
per year. That is expected to get
even bigger than that, to grow to
something like $11 billion by 2020.
But to monitor blood sugar,
diabetics need to prick their
finger, draw blood often several
times a day. This, for some, can
result in infections.
So so what if there was another way.
Several firms are working on systems
that could measure blood glucose
without having to bunch of the skin.
One of them is DiaMonTech,
and Thorsten Lubinksi
is its Chief Executive.
He's with us.
Good morning. Just explain how this
DiaMonTech stands were
diabetic monitoring technology. You
put your finger on the sensor, wait
for five to 15 seconds and it shows
the blood sugar level on a display.
We're doing it with a new kind of
laser called a quantum cascade
laser. The light penetrates the
skin, heats the glucose molecules a
little bit and we measure the change
in temperature. The change in
temperature is tiny so you won't
notice it, but we can measure it and
the more glucose you have, the more
the glucose is and we can show that
in the display.
This is a device
that is still in development, you
can't show it today. It is finished
but not quite there yet in terms of
it being here in the studio with us.
Just explain how you got
this show on the road. We met a
professor who's been working on this
for 30 years.
Yes. I'm a computer
scientist by training and I was
thinking about creating some sort of
electronic diary for diabetics using
sensory input from your phone, your
watch, whatever. I was talking to a
lot of different people in the
diabetics field. I met the Professor
and he said, OK, this makes sense,
it's a good idea, but I have this
huge device in my lab that can
measure your glucose noninvasively.
But I'm a professor, I don't know
how to bring something like that to
market. I said, I can help you with
that. We spoke back and forth for a
couple of months and founded the
You got Angel investors
involved. You have the patents
nailed down and you're thinking,
next year, this device will be
available and now it's the size of a
Correct. We are moving in
different steps. First step is a
shoe box sized device where we show
that the technology works and we can
get it cleared as a medical product
and from there we are starting to
make it smaller. We are planning in
the next step... We call it
internally the muffin because it is
Morphine sized, you can put it in
your pocket. -- it is sized.
of people will be used to the finger
prick test which is not particularly
comfortable, it can be messy, it can
lead to infection, it takes time. A
Exactly. What I
think will happen is people will get
to measuring more often and this is
very essential to get healthy
glucose levels over the whole day.
So measuring ten times a day is
better than measuring twice. 20
times is better than that.
will it cost the user? Is it
affordable for people who have to go
through this on a daily basis?
every technology, in the beginning
it will be more expensive than later
on. We are thinking it will cost
around £100 per month to measure
noninvasively. This is on the same
level like minimal invasive devices
cost right now.
We have to leave it
there. Thank you for coming in. We
shall keep a close eye. Keith us
posted. Keep your tweets coming in
about what job you would like to
replace with robots. A few of you
have said your manager, but that's
not what we're asking!
Australia's flag carrier Qantas has
had its share of ups and downs.
After a drastic cost-cutting drive,
the airline finally
returned to profitability.
But can it maintain the upswing?
Christian Fraser has been talking
to the boss, Alan Joyce -
who thinks expanding capacity
is the key.
We've actually challenged both
Airbus and Boeing to produce a new
aircraft that can do Sydney
and Melbourne to London,
which is a 21-hour aircraft
in the air and we
believe that that is the last
frontier of aviation.
There is a bit of a space race
going on between the
two of them to get us
the aircraft by 2022.
Throw your imagination out.
Where does air travel
go in the future?
Is it suborbital?
Is it further and faster?
Is it a smaller carbon footprint?
What is it?
I think first of all it's distance
first and getting these very long
routes in place.
and supersonic, I
don't see us ever
getting back to that.
So, economical, and there's
a trade-off between the fuel you
need to go supersonic means you're
trading of distance.
And there are environmental
supersonic that we never really
solved since Concorde.
Tom Stevenson is back with us. We've
been asking people this morning
about what jobs they'd like to maybe
give to a robot because there's a
report in the papers that robots
will force 700 million workers into
a new job by 2030. Abby says, a
robot can have my barmaid job over
Christmas if it likes. Good luck
with the Christmas rush. Sarah says,
robots, scary thought, it's bad
enough you have to listen to
automated messages. In the City,
robots are doing a lot of things
that we don't know about, we're not
I think the interesting
thing about the studies about
automation is that it started off
with very low level jobs and they
are gradually moving up the skill
level so that people who thought
their jobs were probably pretty
secure from automation are being
automated out of the workforce. This
is how you end up with a figure like
700 million, which is a massive
slice of the global workforce.
is an interesting headline,
suggesting those 700 million workers
will have to find new careers. It's
not saying they're made redundant,
just that they have to go elsewhere.
This process has been going on since
the Industrial Revolution. Think of
how money people were involved with
horses, blacksmiths, whatever. How
many horses do you see on the
streets of any city these days? You
don't. Over time and the invention
of the PC, that created all sorts of
new jobs that simply didn't exist
Jerome says, I'd replace my
manager with a robot. I can pack in,
get more money and work a two-day
Someone else once the Bosman to be
automated because the post is
Mine is never, I like to say. I love
a human at the door with the post.
Some of us have had jobs would love
to replace with robots. I stood by a
conveyor belt as a student and moved
pies from A to B.
I'm old enough
that my first job was working a
lift. I had to do the handle. You'd
have thought that would have been
automated years ago!
Tom, thank you.
Banks for your comments today and we
will see you same time tomorrow.