0:00:05 > 0:00:07This is Business Live from BBC News with Jamie Robertson
0:00:07 > 0:00:09and Sally Bundock.
0:00:09 > 0:00:11Nervous energy in Vienna.
0:00:11 > 0:00:15The oil producers cartel Opec looks set to extend the supply cuts that
0:00:15 > 0:00:17have pushed up prices.
0:00:17 > 0:00:19Live from London, that's our top story on Thursday
0:00:19 > 0:00:26the 30th of November.
0:00:38 > 0:00:42But with oil prices now above $60 a barrel can Saudi Arabia and Russia
0:00:42 > 0:00:47do much to stop US shale producers taking their market share?
0:00:47 > 0:00:49Also in the programme....
0:00:49 > 0:00:53Google searches for answers.
0:00:53 > 0:00:57The tech giant is accused of illegally collecting the data
0:00:57 > 0:00:58of millions of UK iPhone users
0:00:58 > 0:01:07And we'll be getting the inside track on how the organic
0:01:07 > 0:01:11food revolution began with the woman behind one of Britian's first
0:01:11 > 0:01:13healthy supermarkets.
0:01:13 > 0:01:17And with Brexit Theresa May heading to Brussels next week to try
0:01:17 > 0:01:21and break the Brexit deadlock we'll have a special report from the Irish
0:01:21 > 0:01:25border on one of the key sticking points.
0:01:25 > 0:01:29We'd love to hear your views on the stories we cover today..
0:01:29 > 0:01:39Get in touch by Twitter - just use the hashtag BBCBizLive.
0:01:45 > 0:01:47The price of oil matters.
0:01:47 > 0:01:51That's because it drives so much of the world economy
0:01:51 > 0:01:56whether its used for transport people and goods or heating our
0:01:56 > 0:01:59homes and workplaces.
0:01:59 > 0:02:02And it's why the focus is on Vienna today because that's where the oil
0:02:02 > 0:02:07producers cartel Opec and non-members are meeting and seem
0:02:07 > 0:02:11to have agreed a deal to extend supply cuts that have helped push
0:02:11 > 0:02:13prices to their highest in two years.
0:02:13 > 0:02:16It's exactly a year since Opec and Russia first struck
0:02:16 > 0:02:19a deal to cut production.
0:02:19 > 0:02:22Brent crude has soared from 45 dollars a barrel
0:02:22 > 0:02:24in the summer to over 63.
0:02:24 > 0:02:29That deal is due to expire at the end of March.
0:02:29 > 0:02:32But there are signs of a split.
0:02:32 > 0:02:36Russia is happy with oil at $40 a barrel -
0:02:36 > 0:02:40some of its oil bosses have been questioning why cuts should continue
0:02:41 > 0:02:44now prices have recovered.
0:02:44 > 0:02:48But the Saudis need much higher prices to balance their economy -
0:02:48 > 0:02:52they want oil at $60.
0:02:52 > 0:02:56Meanwhile the continuing recovery of the global economy has
0:02:56 > 0:02:59helped cut stockpiles.
0:02:59 > 0:03:03In September they fell to just under 3bn barrels in the OECD group
0:03:03 > 0:03:10of advanced economies.
0:03:10 > 0:03:18Our correspondent Bethany Bell is at Opec headquarters in Vienna
0:03:18 > 0:03:22Nice to see you, Bethany. So we are hearing from some in the media that
0:03:22 > 0:03:25they have agreed a deal before this meeting kicks off. What are you
0:03:25 > 0:03:31hearing?We are waiting to see. At the moment, I don't know if you can
0:03:31 > 0:03:35see behind me ministers are arriving here for the beginning of this
0:03:35 > 0:03:40meeting. The big question of course is whether to extend and how long to
0:03:40 > 0:03:46extend for. The indications are, at the moment, that the suggestion
0:03:46 > 0:03:50seems to be that they'll decide to extend the cuts to the end of 2018.
0:03:50 > 0:03:55But we also have been hearing rumours that perhaps that would be a
0:03:55 > 0:04:00decision that might be reviewed midyear because, as Jamie said,
0:04:00 > 0:04:05Russia can deal with a lower price of oil than say countries like Saudi
0:04:05 > 0:04:09Arabia and it's questioned the wisdom perhaps of maintaining cuts
0:04:09 > 0:04:17which could open the door for other non-OPEC, non-alliance groups,
0:04:17 > 0:04:22notably US shale oil producers to seize the moment and spike their
0:04:22 > 0:04:27production. And Bethany, there's also the
0:04:27 > 0:04:32question of whether OPEC members and the non-OPEC members that are
0:04:32 > 0:04:36involved actually still to the promised cuts. There's always the
0:04:36 > 0:04:40issue of policing this?Indeed. Although it's been quite interesting
0:04:40 > 0:04:46recently in the past, many OPEC members didn't stick to the quotas.
0:04:46 > 0:04:52In the last few months, OPEC says there's been much more sticking to
0:04:52 > 0:04:58the cuts in oil production. OPEC senior officials recently saying
0:04:58 > 0:05:04they proved the nay Sayers wrong by showing that they could show
0:05:04 > 0:05:09discipline in this way and they said this had a clear impact on prices.
0:05:09 > 0:05:15The question is, what will happen though, if we start to see a spike
0:05:15 > 0:05:21in US shale oil production and whether people don't see the wisdom
0:05:21 > 0:05:25of keeping cuts in place. But as I say at the moment, the meeting
0:05:25 > 0:05:29hasn't begun yet, we'll wait to see how the negotiations pan through
0:05:29 > 0:05:34today and see whether those, how long if those cuts are extended for.
0:05:34 > 0:05:37Bethany, you mentioned there the shale oil producers. In many ways
0:05:37 > 0:05:42they are the ghosts of the feast, they are the people everybody is
0:05:42 > 0:05:46worried about, at $60 a barrel, it's worth coming into production and if
0:05:46 > 0:05:50they do that, they are going to take away Saudi's share, aren't they?
0:05:50 > 0:05:57Very much so. OPEC with its alliance of non-OPEC members here are in a
0:05:57 > 0:06:03bind because they want to rebalance the market. The Saudis say there is
0:06:03 > 0:06:06still work to be done before they are happy with the rebalancing of
0:06:06 > 0:06:11the market. On the other hand, if they continue to extend these cuts,
0:06:11 > 0:06:18then that really opens the door for the US shale oil producers, you
0:06:18 > 0:06:28know, that companies may start to push for more production after Moshe
0:06:28 > 0:06:33balling and that could Brive prices down again, so a paradox in the
0:06:33 > 0:06:37sense for the OPEC and non-OPEC members meeting here today. They
0:06:37 > 0:06:40have to decide how long they can continue with this policy at the
0:06:40 > 0:06:45moment. Thank you very much indeed Bethany.
0:06:45 > 0:06:49That official meeting will start in around about 25 minutes. Bethany is
0:06:49 > 0:06:53there, as you can see. She'll update us.
0:06:53 > 0:06:55Let's take a look at some of the other stories
0:06:55 > 0:06:56making the news...
0:06:56 > 0:06:59American Airlines is facing a shortage of pilots over Christmas,
0:06:59 > 0:07:02after a computer glitch gave too many of them time off.
0:07:02 > 0:07:04An estimated 15,000 flights don't have an assigned pilot due
0:07:05 > 0:07:07to the software error.
0:07:07 > 0:07:09Pilots are now being offered more money to cancel their holiday plans
0:07:10 > 0:07:14and work the shifts.
0:07:14 > 0:07:18American says it expects to avoid cancellations.
0:07:18 > 0:07:20The supervisory board of Siemens agreed on Wednesday to prepare
0:07:20 > 0:07:22to list its Healthineers medical equipment business
0:07:22 > 0:07:25on the Frankfurt stock exchange in the first half of 2018.
0:07:25 > 0:07:27The move comes as the German industrial conglomerate is seeking
0:07:27 > 0:07:29to simplify its structure.
0:07:29 > 0:07:32The Healthineers spin-off will be the country's biggest share offering
0:07:32 > 0:07:34since Deutsche Telekom listed in 1996, potentially valuing
0:07:34 > 0:07:36the company at 40 billion euros.
0:07:36 > 0:07:38The Trump administration has criticised China's bid
0:07:38 > 0:07:41for recognition as a market economy in the World Trade Organization.
0:07:41 > 0:07:42The Trump administration has recently started
0:07:42 > 0:07:45to increase pressure on China, which the White House has
0:07:45 > 0:07:47called one of the world's biggest trade offenders.
0:07:47 > 0:07:49China is currently classified as a nonmarket economy -
0:07:49 > 0:07:52which allows countries like the United States to decide
0:07:52 > 0:07:55whether it is "dumping" its products in other countries by selling them
0:07:55 > 0:07:57at unfairly low prices.
0:08:03 > 0:08:05A former executive at Which?
0:08:05 > 0:08:08- Richard Lloyd - is taking legal action to get compensation
0:08:08 > 0:08:12from Google for users of iPhone - who he says have had personal
0:08:12 > 0:08:18information collected without their knowledge.
0:08:18 > 0:08:21The tech giant told the BBC the case has no merit.
0:08:21 > 0:08:22Our Technology Correspondent, Rory Cellan-Jones is
0:08:22 > 0:08:26here to tell us more.
0:08:26 > 0:08:33Let us go through the allegations? This relates to the iPhone. Apple's
0:08:33 > 0:08:37iPhone, in its Safari browser which a lot of people use to browse the
0:08:37 > 0:08:42Internet on it, back in 2011 and 2012 had a default privacy option
0:08:42 > 0:08:45which stopped you installing the cookie softwares which attract
0:08:45 > 0:08:49people across the Internet, they are used everywhere, we are all using
0:08:49 > 0:08:53them, all subject to them and tracked by them. But apple was
0:08:53 > 0:08:58keeping them off by default, the browser on the iPhone. Google, it
0:08:58 > 0:09:03appears, found a way around this, found a way of installing the
0:09:03 > 0:09:06cookies, so tracking users when they didn't think they were being
0:09:06 > 0:09:11tracked. That is the allegation, that is why over five mill iPhone
0:09:11 > 0:09:15users in the UK are being joined in this lawsuit and seeking this
0:09:15 > 0:09:21compensation.So what is Google's response to this?Google are saying
0:09:21 > 0:09:24this is not new, we have defended similar cases before, we don't
0:09:24 > 0:09:30believe it has any merit and we will contest it. There has been cases in
0:09:30 > 0:09:35the United States, in fact regulatory action by the federal
0:09:35 > 0:09:39trade commission who ordered a record fine against Google for this
0:09:39 > 0:09:42very offence, so this is a continuing pattern.
0:09:42 > 0:09:53Thank you very much.
0:10:03 > 0:10:06Billions of dollars have been wiped off the value of Australian bank
0:10:06 > 0:10:08shares, after the government announced a wide ranging enquiry
0:10:08 > 0:10:12into the finance industry.
0:10:12 > 0:10:15Australians deserve and expect the highest levels of service and
0:10:15 > 0:10:17accountability. For the vast majority, that's exactly what they
0:10:17 > 0:10:24receive. Since the financial crisis, however, there have been examples of
0:10:24 > 0:10:27misconduct by financial institutions. Some of them extremely
0:10:27 > 0:10:32serious. That's demanded a response from the institutions themselves and
0:10:32 > 0:10:34from government.
0:10:36 > 0:10:39Banks stocks in Australia were hit hard by this.
0:10:39 > 0:10:44Tim McDonald joins us from Singapore.
0:10:44 > 0:10:47There's been a lot of pressure on the Prime Minister to act?There
0:10:47 > 0:10:55certainly has. Even the banks came out and climbed on I guess this
0:10:55 > 0:10:59Royal Commission, something they've resisted for a very long time. Many
0:10:59 > 0:11:02commentators are cynical about this saying it's an attempt to influence
0:11:02 > 0:11:04the terms of reference for a commission that was probably
0:11:04 > 0:11:09inevitable. There are some very high profile cases. It will certainly
0:11:09 > 0:11:13receive some scrutiny. Most recently it was the Commonwealth bank with
0:11:13 > 0:11:17thousands of breaches of anti-money-laundering legislation.
0:11:17 > 0:11:23There is probably a bigger issue here. Phillip Lowe came out saying
0:11:23 > 0:11:27there was a mix of slow wage growth and high debt. House prices are high
0:11:27 > 0:11:31in Australia and if wages can't keep up with the mortgage, there could be
0:11:31 > 0:11:36big trouble and the real question is, what extent the lending
0:11:36 > 0:11:39standards contribute to this. This is all a little ironic because these
0:11:39 > 0:11:43are the same banks that reminded people for years after the global
0:11:43 > 0:11:47financial crisis that the subprime crisis didn't really happen in
0:11:47 > 0:11:51Australia and that was a sure sign that standards there were very
0:11:51 > 0:12:03robust. This will certainly be one to watch.
0:12:03 > 0:12:10The markets here. More falls in China following on from what
0:12:10 > 0:12:18happened in the US. The DOW rose 0. 4%. We are going to have a look at
0:12:18 > 0:12:26that in a moment. On the US markets, so let's... There we are, the UK
0:12:26 > 0:12:30markets, that's how we start it off this morning.
0:12:30 > 0:12:32And Samira Hussain has the details about what's ahead
0:12:32 > 0:12:36on Wall Street Today.
0:12:36 > 0:12:40Consumer spending accounts for more than two thirds of US economic
0:12:40 > 0:12:43activity so it's a really important economic indicator. Consumer
0:12:43 > 0:12:50spending is expected to have gone up about 0.3% in October. Now, also in
0:12:50 > 0:12:54economic news, the personal consumption expenditures price
0:12:54 > 0:12:58index, excluding food and energy, will likely show a 0.2% rise for the
0:12:58 > 0:13:04month of October. Now, it sounds like it's a big name, but it's
0:13:04 > 0:13:09actually really a key indicator of inflation and in fact, it's actually
0:13:09 > 0:13:13the Federal Reserve's most preferred measure of inflation as well.
0:13:13 > 0:13:18Finally, the biggest US supermarket owner will be reporting earnings,
0:13:18 > 0:13:23that is Kroger. The earnings are heating up in America as Amazon's
0:13:23 > 0:13:28now stepped into the game. Walmart continues to aggressively push its
0:13:28 > 0:13:34grocery offerings. As a result, Kroger's profits will have been hurt
0:13:34 > 0:13:38this quarter as it had to aggressively discount items in order
0:13:38 > 0:13:41to compete.
0:13:41 > 0:13:44Joining us is Trevor Greetham, head of multi-asset
0:13:44 > 0:13:49at Royal London Asset Management
0:13:49 > 0:13:53Always lovely to see you.Good morning.There is a lot to discuss.
0:13:53 > 0:13:58We wanted to focus on the rotation, as they call it, out of technology
0:13:58 > 0:14:18stocks in the US, so the fang, Facebook, am zoning, Google and --
0:14:18 > 0:14:23Facebook, Amazon and Google.Yes. People tend to take profits in
0:14:23 > 0:14:27things that have done well during the year. There is not a great deal
0:14:27 > 0:14:33of fundamental reason for a pull back in tech stocks. Put them into
0:14:33 > 0:14:37context - most of the technology stocks are up 50-60% this year and
0:14:37 > 0:14:43down 3% in the last few days, so it's not a huge set.It's not a
0:14:43 > 0:14:47correction.They started the year overvalued. They are a bit more
0:14:47 > 0:14:53overvalued now. The thing is, it's very like the late 1990s where we
0:14:53 > 0:14:57had good grow but low inflation and low interest rates.That ended well?
0:14:57 > 0:15:03!The Nasdaq is at a higher level at the peak of that bubble but the
0:15:03 > 0:15:07earnings have come through massively so the stocks aren't as high as they
0:15:07 > 0:15:11were and the economic environment is similar, suggesting there is more
0:15:11 > 0:15:19upside.When you look at the companies, the FANGs, they're
0:15:19 > 0:15:24companies that make profits that have a proper business model. Look
0:15:24 > 0:15:33back in the 90s, there is a lot of .comes that were going up-and-up in
0:15:33 > 0:15:39value?The Bitcoin is the .com.In your opinion, some people say it's
0:15:39 > 0:15:45not. And driverless cars is the other one. You can't put those two
0:15:45 > 0:15:52together, can you? ! All you have to do is start a company that has
0:15:52 > 0:15:56driverless cars and people give you money.There is a bubbly feeling
0:15:56 > 0:16:00around it. Interest rates are extremely low, there are new
0:16:00 > 0:16:04technology ideas, it's hard to prove someone wrong about how Bitcoin and
0:16:04 > 0:16:10driverless cars are going to be so you tend to get the euphoric rises.
0:16:10 > 0:16:14If you extrapolate Bitcoin, the electricity consumption, if it keeps
0:16:14 > 0:16:21going up ten times a year, the lights will start going off.
0:16:21 > 0:16:26If we weave in the oil price, we have got the Opec members...It
0:16:26 > 0:16:32looks like they are extending the supply.It looks like a nine-month
0:16:32 > 0:16:35extension. Will that make a big difference in terms of the price
0:16:35 > 0:16:40fall and what we are spending?I don't think it will. The critical
0:16:40 > 0:16:45thing with oil is what happens to China in 2018. It feels like they're
0:16:45 > 0:16:49tightening policy on growth will slow down. Commodity prices will
0:16:49 > 0:16:53remain under control. If China gets stronger, the rest of the world
0:16:53 > 0:16:57outside the UK is booming, by the way, he could easily see commodity
0:16:57 > 0:17:02prices surge, interest rates rise rapidly. Then we are talking about a
0:17:02 > 0:17:07big reversal in the stock markets. China is critical. But we think it
0:17:07 > 0:17:11will be cooling off rather than blooming next year. As a result of
0:17:11 > 0:17:15some relatively low interest rate environment which will carry on for
0:17:15 > 0:17:21a while.Interesting. Trevor will return to look at the papers. He
0:17:21 > 0:17:28will be talking about the news stories, including Alexa.
0:17:28 > 0:17:31We won't have her onset.
0:17:31 > 0:17:34Still to come...
0:17:34 > 0:17:38How Brexit could lead to thousands of people to rethink their everyday
0:17:38 > 0:17:39lives on the Irish border.
0:17:39 > 0:17:43You're with Business Live from BBC News.
0:17:45 > 0:17:49Here in the UK, the Government is setting out plans to get
0:17:49 > 0:17:52one million more disabled people in work over the next ten years.
0:17:52 > 0:17:57Ministers say that the new strategy will not only help those
0:17:57 > 0:18:01with disabilities get work, but make sure they keep and
0:18:01 > 0:18:03progress with a job.
0:18:03 > 0:18:06Our disability affairs correspondent, Nikki Fox, reports.
0:18:06 > 0:18:07Probably a yellow banana.
0:18:07 > 0:18:10Trying out new technology...
0:18:10 > 0:18:11Left edge, 5 feet away.
0:18:11 > 0:18:15A child consultant, Hannah is testing face-recognition gadgets
0:18:15 > 0:18:18which could help her at work.
0:18:18 > 0:18:21She lost her sight five years ago and is now registered blind.
0:18:21 > 0:18:25During that time, she found it hard to get a job.
0:18:25 > 0:18:29I left uni with a first-class degree in law and I've been turned down
0:18:29 > 0:18:31from kind of basic admin roles when I had quite significant
0:18:31 > 0:18:33experience and that sort of thing.
0:18:33 > 0:18:36Some of them, I might not have got the job anyway.
0:18:36 > 0:18:39Some of them, it was quite clear from the questions they are asking,
0:18:39 > 0:18:41it was because of my disability.
0:18:41 > 0:18:45The employment gap between disabled and non-disabled people hasn't
0:18:45 > 0:18:49significantly changed for some years despite a pledge back
0:18:49 > 0:18:50in 2015 to halve it.
0:18:50 > 0:18:54Today, the government has published a plan that aims to see 1 million
0:18:54 > 0:18:58more disabled people in work over the next 10 years.
0:18:58 > 0:19:00We are making progress.
0:19:00 > 0:19:02We've got 600,000 more disabled people in work than we did
0:19:02 > 0:19:04four years ago.
0:19:04 > 0:19:07What we want to do is continue to work with employers,
0:19:07 > 0:19:09to continue to exploit the opportunities of new technology
0:19:09 > 0:19:12and to keep testing and learning to find out what works,
0:19:12 > 0:19:15what are the things that actually can make a difference
0:19:15 > 0:19:17so that more disabled people can fulfil their potential
0:19:17 > 0:19:20and get a good job.
0:19:20 > 0:19:23Today's announcement also includes measures to provide access
0:19:23 > 0:19:27to personalised support for those with
0:19:27 > 0:19:33mental health issues and an increase in the variety of health care
0:19:33 > 0:19:35professionals who are able to issue fitness-to-work notices
0:19:35 > 0:19:36but with employment rates for people with
0:19:36 > 0:19:38learning disabilities at around 6%, charities are warning
0:19:38 > 0:19:39the progreess is too slow.
0:19:39 > 0:19:41Nikki Fox, BBC News.
0:19:49 > 0:19:51We found something extremely interesting. You are very excited
0:19:51 > 0:19:57about it. So basically, Morrisons has had to
0:19:57 > 0:20:00recall a load of chicken and mushroom pie is because they have
0:20:00 > 0:20:05fish on them. Why not just write fish on the
0:20:05 > 0:20:08outside and then they could tell them?! There is no health problem.
0:20:08 > 0:20:17It is just a wrong. It has got Mustard in as well! Delicious! Read
0:20:17 > 0:20:22more on the business life page. -- Business Live.
0:20:25 > 0:20:30You're watching Business Live.
0:20:30 > 0:20:32Our top story...
0:20:32 > 0:20:34Oil.
0:20:34 > 0:20:38A quick look at how the markets are faring.
0:20:38 > 0:20:43We will regain her composure. Sorry. Apologies. As you can see in Europe
0:20:43 > 0:20:51we have a mixed picture. The FTSE is down. Our top story is oil. Opec and
0:20:51 > 0:20:57Russia are meeting in Vienna at the moment. Bethany Bell will update us.
0:20:57 > 0:21:00There is expected to be an agreement to keep supplies in place for
0:21:00 > 0:21:09another nine months. We are more calm now.
0:21:09 > 0:21:12The Brexit negotiations have been difficult over a number of areas -
0:21:12 > 0:21:14and one critical issue is what happens to the border
0:21:14 > 0:21:18between Northern Ireland and the Republic of Ireland.
0:21:18 > 0:21:22At the moment there are no restrictions on the movement
0:21:22 > 0:21:29of people or goods. But could that change.
0:21:29 > 0:21:32Rachel Horne has been speaking to people who live and work on both
0:21:32 > 0:21:38sides of the border.
0:21:38 > 0:21:42The Northern Irish border is 310 miles long. And every day around
0:21:42 > 0:21:4830,000 people across it on one of around 200 roads. This is one of
0:21:48 > 0:21:53them. Just behind me is Northern Ireland. Just over here is the
0:21:53 > 0:21:57Republic of Ireland. We have come here to find out if this bridge
0:21:57 > 0:22:07joins or divides these communities. Meet Fiona McGauran. She lives in
0:22:07 > 0:22:10Northern Ireland that lives in the Republic. When I say border to you.
0:22:10 > 0:22:16What does it mean? Customs, checkpoints, then there is work.
0:22:16 > 0:22:19Will there be problems for me having to work in the UK? Will I have to
0:22:19 > 0:22:26get a Visa and maybe?UK Government have said there would be no physical
0:22:26 > 0:22:31presence at the border.They can say that but there will be something. It
0:22:31 > 0:22:39is the only land border between the UK and Europe and the world.Driving
0:22:39 > 0:22:42from black Lion to beaucoup, if you don't pay attention you could miss
0:22:42 > 0:22:49the border. You will fill a bump as the road surface changes. The border
0:22:49 > 0:22:54is literally the bump in the road. Hello, Margaret! Margaret was born
0:22:54 > 0:22:59in this house and has lived here all her life. What are your memories?
0:22:59 > 0:23:07You were here when there was a hard border.When you cross the bridge,
0:23:07 > 0:23:14getting a half quarter of hard plug tobacco and whiskey, that was
0:23:14 > 0:23:18smuggled, as it were. None of those things were allowed out. Nobody
0:23:18 > 0:23:21wants to return to that. It is totally unnecessary. We are all the
0:23:21 > 0:23:27same people. A bridge not separating us, keeping us together. A bridge
0:23:27 > 0:23:32joining us is how I see it.Nobody knows what Brexit will bring. There
0:23:32 > 0:23:38are still investing in the future.I am open a few weeks. People are
0:23:38 > 0:23:42wondering what will happen next. It is this uncertainty that keeps
0:23:42 > 0:23:47everybody wondering. That is not a good thing for Northern Ireland,
0:23:47 > 0:23:51Southern Ireland or Europe. Brexit when it comes, I hope this will
0:23:51 > 0:23:56remain.Discussions continue hundreds of miles away in Brussels.
0:23:56 > 0:24:00People here are listening but they are worried. Or the bridge which
0:24:00 > 0:24:05today unites them be used to divide them?
0:24:05 > 0:24:10That was Rachel Horne.
0:24:11 > 0:24:14Let's look-up Theresa May and her agenda at the moment. She is in
0:24:14 > 0:24:23Saudi Arabia. The press are giving us their take. The hypocrisy of
0:24:23 > 0:24:29Theresa May criticising Saudi Arabia for using the weapons she has sold
0:24:29 > 0:24:33them is staggering, says this headline. That is because she has
0:24:33 > 0:24:36raised the humanitarian crisis in Yemen and the fact the Saudi Arabian
0:24:36 > 0:24:42border is closed. It is a tricky one for her, isn't it? She wants the
0:24:42 > 0:24:51trade.I don't think she could have gone to Arabia without raising
0:24:51 > 0:24:56Yemen. That is a good thing she did that. But it is a bit of a tight
0:24:56 > 0:24:59rope she is walking in many different ways between her and Saudi
0:24:59 > 0:25:09and her and America. You have got the deal which both the US and the
0:25:09 > 0:25:16UK are vying for. There is some sort of concern, a race to the bottom in
0:25:16 > 0:25:21terms of regulation in order to win that listing. Some people are quite
0:25:21 > 0:25:25happy with the fact there is a potential new category in welfare
0:25:25 > 0:25:32funds to list in the UK.How important is it?To me it is
0:25:32 > 0:25:36probably something that is a sign of prestige. Britain is looking for
0:25:36 > 0:25:39something to say we are very global and we are open for business. In the
0:25:39 > 0:25:44end I think it is hugely significant. You have got all of the
0:25:44 > 0:25:49far right stuff and the Tweets. Trump trolling Theresa May this
0:25:49 > 0:25:52morning.It is an interesting space to watch. Thanks for your time
0:25:52 > 0:25:54today.
0:25:54 > 0:25:57That's it from Business Live today.
0:25:57 > 0:26:00There will be more business news throughout the day on the BBC Live
0:26:00 > 0:26:00web page and on World Business Report.
0:26:00 > 0:26:01web page and on World Business Report.
0:26:01 > 0:26:09We'll see you again tomorrow.