0:00:03 > 0:00:06This is Business Live from BBC News with
0:00:06 > 0:00:14Sally Bundock and Ben Bland.
0:00:14 > 0:00:17Deal or no deal - the UK Prime Minister has just days to get
0:00:17 > 0:00:21Brexit talks back on track as issues over Northern Ireland's border
0:00:21 > 0:00:25scupper the prospect of moving on to trade talks.
0:00:25 > 0:00:27Live from London, that's our top story on Tuesday
0:00:27 > 0:00:32the 5th of December.
0:00:38 > 0:00:44The British Prime Minister pulled out of a deal with Brussels
0:00:44 > 0:00:46after the Irish DUP, which props up her government,
0:00:46 > 0:00:49said it wouldn't accept a deal that treats Northern Ireland differently
0:00:49 > 0:00:51from the rest of the UK.
0:00:51 > 0:00:53Also in the programme, Mr Trudeau goes to Beijing.
0:00:53 > 0:00:56The Canadian Prime Minister has signed three trade agreements
0:00:56 > 0:01:03with the Chinese premier, covering food and energy.
0:01:03 > 0:01:07Here is how the European markets look at the start of the trading day
0:01:07 > 0:01:13and we will take a look at Wall Street.
0:01:13 > 0:01:17Also in the programme, many of us believe we have an idea for a hit
0:01:17 > 0:01:20novel inside us.
0:01:20 > 0:01:22Well we'll meet the man who could help
0:01:22 > 0:01:24you realise your dream with an algorithm that he says
0:01:24 > 0:01:27will help spot the next publishing sensation.
0:01:27 > 0:01:32And as Facebook launches a messenger
0:01:32 > 0:01:34app for children under the age of 13, we want
0:01:34 > 0:01:36to know how young is too young for social media?
0:01:37 > 0:01:38Let us know.
0:01:38 > 0:01:43Just use the hashtag BBCBizLive.
0:01:43 > 0:01:47Hello and welcome to Business Live.
0:01:47 > 0:01:51Talks between the EU and the UK were derailed
0:01:51 > 0:01:54in the last 24 hours, just as it looked like a deal might
0:01:55 > 0:02:03finally be on the table.
0:02:03 > 0:02:06The negotiations came to a halt after the DUP, the political party
0:02:06 > 0:02:08in Northern Ireland who are propping up the Conservative government,
0:02:08 > 0:02:11rejected a proposal to avoid a hard border between Northern Ireland
0:02:11 > 0:02:12and the Republic.
0:02:12 > 0:02:15The DUP objected to a clause in a draft agreement with the EU
0:02:15 > 0:02:18that would guarantee "regulatory alignment" between Northern Ireland
0:02:18 > 0:02:20and the Republic of Ireland, effectively keeping the country
0:02:20 > 0:02:29in the EU's customs union and single market in all but name.
0:02:29 > 0:02:32Elsewhere a deal is believed to be very close on EU citizens' rights
0:02:32 > 0:02:34and the so called "divorce bill".
0:02:34 > 0:02:40The UK is understood to have recently increased its offer,
0:02:40 > 0:02:42which could be worth up to 50 billion euros.
0:02:42 > 0:02:43The problem for the UK
0:02:43 > 0:02:46is that the EU will only move on to talk about future issues
0:02:46 > 0:02:48like trade when "sufficient progress" has been made
0:02:48 > 0:02:53on these subjects and is due to decide whether this
0:02:53 > 0:02:58has happened at a summit on the 14th and 15th December.
0:02:58 > 0:02:59Joining me now from Westminster is our Political
0:02:59 > 0:03:05Correspondent Iain Watson.
0:03:05 > 0:03:11Theresa May has quite a day ahead, talk us through the Cabinet meeting
0:03:11 > 0:03:17and beyond.That's right, she has to tell the Cabinet what went wrong
0:03:17 > 0:03:21because 24 hours ago things looked positive and deal looked within her
0:03:21 > 0:03:26grasp, that's no longer the case. I would be very surprised if she
0:03:26 > 0:03:30doesn't meet face-to-face with Arlene Foster, the leader of the
0:03:30 > 0:03:35DUP. As you know, the DUP is effectively propping up the minority
0:03:35 > 0:03:38government of Theresa May so their views are crucial and she will need
0:03:38 > 0:03:49to get them on board if
0:03:51 > 0:03:53she's to return to Brussels, perhaps tomorrow and later this week, to try
0:03:53 > 0:03:56to get talks going again and win the prize of trade talks which are so
0:03:56 > 0:03:59crucial to her. When she meets the DUP, one of the things they will
0:03:59 > 0:04:01talk about, using technical terms but important terms, possibly the
0:04:01 > 0:04:05difference between regulatory alignment which would see the same
0:04:05 > 0:04:10regulations in place in Northern Ireland and the Republic of Ireland
0:04:10 > 0:04:14after Brexit, something the DUP not want to see, and regulatory
0:04:14 > 0:04:19equivalence - good we effectively have the same standards but not
0:04:19 > 0:04:23necessarily the same exact rules. If the DUP could get on board with that
0:04:23 > 0:04:28wording that could be the key to unlock the talks but at the same
0:04:28 > 0:04:33time any change in wording in the draft agreement would have to be
0:04:33 > 0:04:37acceptable to the Irish government. If it isn't, they have the power to
0:04:37 > 0:04:41veto the trade talks starting when the leaders meet at the end of next
0:04:41 > 0:04:44week.Thank you.
0:04:44 > 0:04:51Andrew Walker is our Business Correspondent and joins me now.
0:04:51 > 0:04:55The pressure is really on, they are hoping to get this sorted by the end
0:04:55 > 0:05:00of the week.Next week we have a summit of the European Union where
0:05:00 > 0:05:04the Prime Minister here is hoping she will get a declaration that
0:05:04 > 0:05:08sufficient progress has been made on the three initial areas of
0:05:08 > 0:05:13negotiations to allow them to move onto trade negotiations which is an
0:05:13 > 0:05:19essential element in getting the kind of Brexit deal that would be
0:05:19 > 0:05:27best for the British economy. So absolutely the pressure is on to
0:05:27 > 0:05:33iron out a set of difficult technical issues.And it just goes
0:05:33 > 0:05:42to show, doesn't it, how confusing this is to iron out. When you take
0:05:42 > 0:05:47into account all of the other issues as well that need to be ironed out,
0:05:47 > 0:05:52it shows how tricky this Brexit process is.Indeed, we need to get
0:05:52 > 0:05:58at least the interim agreement nailed down on the other two issues
0:05:58 > 0:06:01of the financial settlements and citizens' rights. I think one point
0:06:01 > 0:06:08worth making here is where you might see some room for progress in the if
0:06:08 > 0:06:17you like internal British political issue is it appears that one version
0:06:17 > 0:06:22of this statement about regulatory alignment or regulatory
0:06:22 > 0:06:26non-divergence, whatever form of words you want to use, was
0:06:26 > 0:06:31specifically about areas needed to support North-South co-operation and
0:06:31 > 0:06:36the protection of the Good Friday Agreement. That doesn't necessarily
0:06:36 > 0:06:39mean absolutely everything, to complete regulatory alignment across
0:06:39 > 0:06:44the board, and there are number of sectors where it is particularly
0:06:44 > 0:06:52important in maintaining day to day business on the border.And all of
0:06:52 > 0:06:56this has come to the fore to a great degree because of the snap election
0:06:56 > 0:07:03and the fact the Conservative government is aligned with the DUP.
0:07:03 > 0:07:08We also have Scotland watching this extremely closely because they do
0:07:08 > 0:07:14not want a hard Brexit is at work, they are pushing strongly. Nicola
0:07:14 > 0:07:25Sturgeon, the head of the SNP, thinking what about us.Absolutely,
0:07:25 > 0:07:29and whatever the outcome of the previous election would have been,
0:07:29 > 0:07:33the Prime Minister no doubt would have been consulting carefully with
0:07:33 > 0:07:36the political parties in Northern Ireland and wanting to have them on
0:07:36 > 0:07:40board as much as possible but the fact they are in a position to
0:07:40 > 0:07:45withdraw support and the ultimate threat of bringing it down doors put
0:07:45 > 0:07:49her in an acutely difficult situation.It keeps us all very
0:07:49 > 0:07:53busy. Thank you for your time.
0:07:53 > 0:08:00Let's take a look at some of the other stories making the news...
0:08:00 > 0:08:07UK cinema operator Cineworld is buying its US rival
0:08:07 > 0:08:09Regal Entertainment Group for $3.6 billion.
0:08:09 > 0:08:12Combined the two firms will have more than 9,500 screens in the US
0:08:12 > 0:08:14and Europe which would make it the world's second
0:08:14 > 0:08:15biggest cinema operator.
0:08:15 > 0:08:17Cineworld plans to sell shares and take on more
0:08:17 > 0:08:19debt to fund the deal.
0:08:19 > 0:08:20Facebook has launched its first app
0:08:20 > 0:08:21which is specifically aimed at children.
0:08:21 > 0:08:24The new service is starting in the United States and parents
0:08:24 > 0:08:26will have control over who their children message
0:08:26 > 0:08:27and what they see.
0:08:27 > 0:08:30Facebook says the data it gathers won't be used by the main Facebook
0:08:30 > 0:08:36app, which those under 13 are not supposed to use.
0:08:36 > 0:08:40We are asking you about this in terms of our Twitter question, how
0:08:40 > 0:08:44young is too young for social media?
0:08:44 > 0:08:46The online retail giant Amazon has finally launched
0:08:46 > 0:08:48in Australia after weeks of speculation about exactly
0:08:48 > 0:08:52when it would do so.
0:08:52 > 0:08:56Australia's online shopping market is already worth
0:08:56 > 0:08:57more than US $15 billion
0:08:57 > 0:09:00and is expected to grow by 50% in the next five years.
0:09:00 > 0:09:02Canada's Prime Minister Justin Trudeau is in Beijing.
0:09:02 > 0:09:07He's due to meet President Xi Jinping in the next few hours
0:09:07 > 0:09:14and trade is expected to be top of the agenda.
0:09:14 > 0:09:21Leisha Santorelli is in Singapore.
0:09:21 > 0:09:28Trade is actually turning out of the...We are not sure where she is,
0:09:28 > 0:09:35better late than never! So what can we expect from these talks?I was
0:09:35 > 0:09:39actually just saying that trade is turning out to be a sticky issue for
0:09:39 > 0:09:44Justin Trudeau. Canada is looking to reduce its reliance after Donald
0:09:44 > 0:09:51Trump threatened to pull out of Nafta so Justin Trudeau made the
0:09:51 > 0:09:57flight to China hoping to launch formal trade talks but that appears
0:09:57 > 0:10:02to have fallen flat. Both Canada and China are saying they will stick to
0:10:02 > 0:10:08exploratory talks. The stumbling block seems to be Mr Trudeau's push
0:10:08 > 0:10:14for a progressive trade deal, which will assess gender, environment and
0:10:14 > 0:10:20Labour issues, but he's finding it a tough sell in China. But he's not
0:10:20 > 0:10:23going home empty-handed because Canadian beef and pork producers
0:10:23 > 0:10:27will now have greater access to the Chinese market and Canadians and
0:10:27 > 0:10:36Chinese appear to be working on resolving a big dispute over canola
0:10:36 > 0:10:43exports.Thank you.
0:10:43 > 0:10:45Tech giants including Samsung and Tencent sank
0:10:45 > 0:10:47in Asian trade on Tuesday, tracking a sell-off in their US
0:10:47 > 0:10:49rivals and dragging most regional markets lower.
0:10:49 > 0:10:51Investors rotate out of tech shares to financials.
0:10:51 > 0:10:53Sterling has come off a two-month high after
0:10:53 > 0:10:58the lack of a Brexit deal.
0:10:58 > 0:11:01This is how the European markets looked at the start of the trading
0:11:01 > 0:11:02day.
0:11:02 > 0:11:06The Dow closed at a record high
0:11:06 > 0:11:10on Wall Street but the Nasdaq tumbled more than
0:11:10 > 0:11:121% as dealers shifted out of the tech sector,
0:11:12 > 0:11:14which has enjoyed a healthy rally through the year,
0:11:14 > 0:11:15and into financial firms.
0:11:15 > 0:11:20Investors welcomed news that the US Senate had finally passed
0:11:20 > 0:11:22controversial tax reforms.
0:11:22 > 0:11:24And Samira Hussain has the details about what's ahead
0:11:24 > 0:11:31on Wall Street Today.
0:11:31 > 0:11:35And improving job market continues to support the demand for housing in
0:11:35 > 0:11:39the US and that could mean luxury home-builder will see a rise in
0:11:39 > 0:11:46revenue and profit. But the lack of skilled labour continues to have an
0:11:46 > 0:11:50impact on the supply of homes so investors will be looking for
0:11:50 > 0:11:57forecasts for the next fiscal year. Finally, the global airline industry
0:11:57 > 0:12:02body the International air transport Association is expected to give an
0:12:02 > 0:12:11update on airline profitability for 2017, and a look ahead to next year.
0:12:11 > 0:12:14Joining us is Nandini Ramakrishnan, Global Market Strategist at JP
0:12:14 > 0:12:19Morgan Asset Management.
0:12:19 > 0:12:25Let's talk about the pound initially, no surprise to see the
0:12:25 > 0:12:30reaction to what we thought was a done deal being no deal by lunchtime
0:12:30 > 0:12:36yesterday and the pound reacting. Yes, some weakness there. As we've
0:12:36 > 0:12:45seen since the referendum, the pound sterling rate against the dollar is
0:12:45 > 0:12:49very reactive so not a huge surprise we have seen weakness and on the
0:12:49 > 0:12:55flip side of that, we could see the 100 million because of the inverse
0:12:55 > 0:12:59relationship. That's what we are seeing on the screens at the moment.
0:12:59 > 0:13:05Another trend we saw over the last 24 hours, investors moving away from
0:13:05 > 0:13:09tech and more towards financials, reflecting the optimism they have
0:13:09 > 0:13:13about the tax cuts that Donald Trump has for so long been trying to get
0:13:13 > 0:13:19through although they are not there yet completely.Yes, this rotation
0:13:19 > 0:13:25from the tech stocks into financials, which have traditionally
0:13:25 > 0:13:30not been as big a performer since 2008 has been a huge deal for
0:13:30 > 0:13:34markets and investors because it is signifying this element of raising
0:13:34 > 0:13:39interest rates. You have the Bank of England raising interest rates, the
0:13:39 > 0:13:48ECB pulling back support for bonds and monetary policy, which is all
0:13:48 > 0:13:52good for the financial sector.Also, does it reflect people's view that
0:13:52 > 0:13:58tech stocks have had an unbelievable year and have gone a little bit too
0:13:58 > 0:14:03far now?Yes, that is a concern, just a handful of stocks that have
0:14:03 > 0:14:07such high prices, there is risk aversion now saying I don't know if
0:14:07 > 0:14:11I want to be in those stocks which are so expensive, trying to buy some
0:14:11 > 0:14:18cheap stocks that have the potential to rally up. Everybody loves
0:14:18 > 0:14:20technology, its innovation and moving things forward, but there are
0:14:20 > 0:14:28ways to access technology as a trend which is not just a handful of
0:14:28 > 0:14:33stocks.Thank you. You will be coming back to discuss things like
0:14:33 > 0:14:38the new Facebook messaging service as well as other stories out there.
0:14:38 > 0:14:41Yes, whether you want to or not!
0:14:41 > 0:14:42Still to come...
0:14:42 > 0:14:44Hit books are the lifeblood of the publishing industry.
0:14:44 > 0:14:46But how can you tell a hit from a miss?
0:14:46 > 0:14:49We'll meet the man who thinks his algorithm has the answer.
0:14:49 > 0:14:58You're with Business Live from BBC News.
0:15:02 > 0:15:07This week the Bank of England said only a third of secondary schools
0:15:07 > 0:15:10in the UK offer economics education and launched a pilot project
0:15:10 > 0:15:13to teach GCSE students about everyday economics.
0:15:13 > 0:15:16Some campaigners say it should it be statutory to teach it at primary
0:15:16 > 0:15:18school level as it is at secondary.
0:15:18 > 0:15:26Steph McGovern has been in a primary school in Gorton today.
0:15:26 > 0:15:32Hello. This is a centre for excellence when it comes to teaching
0:15:32 > 0:15:36young people about money and there is a lot of talk at the moment about
0:15:36 > 0:15:39whether financial education in schools should be compulsory. So
0:15:39 > 0:15:43let's find out what these guys are doing. Jane, tell us what you have
0:15:43 > 0:15:47been doing?We have been learning about currencies and when you go on
0:15:47 > 0:15:51holiday which currency to use. That's helpful, isn't it, for when
0:15:51 > 0:15:56you are on your holidays. Gloria, what else?How to spend different
0:15:56 > 0:15:59things equally in supermarkets and how to spend in different
0:15:59 > 0:16:03supermarkets.That you're getting value for money and what else have
0:16:03 > 0:16:09you been learning about?Credit card and scams when we go on websites to
0:16:09 > 0:16:13know what we are buying so it's not fake.You know loads. We have got Mr
0:16:13 > 0:16:17Miles your teacher here. Why is it so important that these young people
0:16:17 > 0:16:21are learning about all of this stuff now?We start teaching them as early
0:16:21 > 0:16:24as nursery. We want to encourage children to be enthusiastic about
0:16:24 > 0:16:28money because then they can have aspirations for later in life
0:16:28 > 0:16:31because they are not actually that far away from being independent. So,
0:16:31 > 0:16:35if they can see that money is not something to be scared of, it is
0:16:35 > 0:16:39something they can be enthusiastic about and make work for them, then
0:16:39 > 0:16:43it sets them up really well for life.Do you think it is a good idea
0:16:43 > 0:16:47to learn about money. ALL:Yes.Shall we say bye to
0:16:47 > 0:16:57everyone. That's it from us. ALL:Bye.
0:16:57 > 0:17:04This is the top story on our business pages today. Rail fare
0:17:04 > 0:17:11rise. Train fares in Britain will be going up by 3.4% from 2nd January.
0:17:11 > 0:17:17That's the biggest increase since 2013. It covers regulated fares and
0:17:17 > 0:17:22including season tickets and unregulated fares. So those one-off
0:17:22 > 0:17:25journeys. There is more detail and reaction as you can imagine on the
0:17:25 > 0:17:32BBC website. Take a look including analysis from our transport
0:17:32 > 0:17:39correspondent, Richard Westcott. So do take a look when you have time.
0:17:39 > 0:17:42You're watching Business Live.
0:17:42 > 0:17:44Our top story - Britain and the European Union have failed
0:17:44 > 0:17:47to agree on moving onto the second phase of their
0:17:47 > 0:17:54negotiations on Brexit.
0:17:54 > 0:17:57Negotiations came to a halt after the Democratic Unionist Party
0:17:57 > 0:17:59rejected a proposal to avoid a hard border between Northern Ireland
0:17:59 > 0:18:01and the Republic of Ireland.
0:18:01 > 0:18:06That means a flurry of negotiations between now and the end of the week.
0:18:06 > 0:18:11A quick look at how markets are faring.
0:18:11 > 0:18:17The FTSE in London, outperforming the others. Benefiting from the
0:18:17 > 0:18:22pound weakening slightly after that failure to do a deal on Brexit.
0:18:22 > 0:18:24Spotting the next best seller can be tricky.
0:18:24 > 0:18:26Harry Potter was famously rejected by 12 literary agent before
0:18:26 > 0:18:28finally being picked up.
0:18:28 > 0:18:30However, one firm thinks they have the answer.
0:18:30 > 0:18:32German publisher Inkitt claims that by using a sophisticated algorithm
0:18:32 > 0:18:35and the power of the crowd to measure reader engagement,
0:18:35 > 0:18:41they can identify potential best sellers and they seem to be writing
0:18:41 > 0:18:42a successful business story.
0:18:42 > 0:18:45In the last 12 months, they have published 19 books that
0:18:45 > 0:18:46have made the Amazon top 100.
0:18:46 > 0:18:54Ali Albazaz is the boss of Inkitt and joins us now.
0:18:54 > 0:18:58He is with one of the books. An example of something that went into
0:18:58 > 0:19:05the top 12 on Amazon, this one? Exactly. It was ranked number 12
0:19:05 > 0:19:11ahead of Harry Potter a couple of months ago.Tell us what happened.
0:19:11 > 0:19:15Did the writer approach you and you then measured the success of that
0:19:15 > 0:19:22with an algorism?Exactly. We have an online platform on Inkitt.com.
0:19:22 > 0:19:26All authors can upload their manuscripts and over one readers who
0:19:26 > 0:19:31can read the books for free. While the readers are reading, we analyse
0:19:31 > 0:19:35their reading behaviour. We see do they stay up all night to continue
0:19:35 > 0:19:38reading? Do they read today, tomorrow, the day after and so on
0:19:38 > 0:19:43and based on this feedback or data points that we get we can predict if
0:19:43 > 0:19:48a book has the potential to become a best seller.So we are talking about
0:19:48 > 0:19:57best sellers, ie popular reads. Not necessarily a good read?Well, let's
0:19:57 > 0:20:01say, like things that the majority of the population like.So things
0:20:01 > 0:20:10that are going to sell by the millions?Abslaotly. Harry Potter
0:20:10 > 0:20:14and Fifty Shades Of Grey.Did you come to it from the book writing
0:20:14 > 0:20:20side or the tech side?I am a coder and it goes back to five years ago
0:20:20 > 0:20:25where you know I also liked writing and five years ago I started Inkitt
0:20:25 > 0:20:32as a hobby project. I started this platform where auth Ours could
0:20:32 > 0:20:38upload their manuscripts and readers give and give feedback. About a year
0:20:38 > 0:20:44later, I discovered this statistics at JK Rowling was rejected by 13
0:20:44 > 0:20:47publishers and the 14th publisher only published her because the
0:20:47 > 0:20:51eight-year-old daughter of the editor liked it and figured out that
0:20:51 > 0:20:56Twilight was rejected by 14 publishers and James Patterson
0:20:56 > 0:20:59rejected by 31 publishers. I was like wow, this is so insufficient
0:20:59 > 0:21:04and at the same time the publishers are crushing these people's dreams
0:21:04 > 0:21:10and I found that unfair and I wanted to build something better.Forgive
0:21:10 > 0:21:15me, is it better? Is it a different way of bringing to the attention
0:21:15 > 0:21:20people, you know, books that are out there because some might argue
0:21:20 > 0:21:25actually publishers do a great job of finding what might be a really
0:21:25 > 0:21:32good read, not necessarily a very popular read ie Amazon top ten like
0:21:32 > 0:21:40Fifty Shades Of Grey. But a fantastic book to read like
0:21:40 > 0:21:45Wuthering Heights.We are democratising and the majority of
0:21:45 > 0:21:49top five publishers, they only publish authors with track record.
0:21:49 > 0:21:52People who have already made it before, who have a fanbase. They
0:21:52 > 0:21:56would rather publish the next book from Obama than take on a new debut
0:21:56 > 0:22:01author. They publish very few debut authors and we believe in debut
0:22:01 > 0:22:05authors because we can measure the reading behaviour and invest in the
0:22:05 > 0:22:10debut authors. Our belief is that every author in the world should
0:22:10 > 0:22:15have an equal chance to succeed, be it the 15-year-old girl who has
0:22:15 > 0:22:18written an amazing story or JK Rowling, they should have the same
0:22:18 > 0:22:22equal chance to succeed. That's what makes Inkitt different to other
0:22:22 > 0:22:28publishers.Ali, thank you. Have you written a book?Yes, I did,
0:22:28 > 0:22:33yes.And...It's on Inkitt.How is it doing?I have written the
0:22:33 > 0:22:40beginning. The rest is still in draft mode.It sounds like my book
0:22:40 > 0:22:44it is! Thank you.
0:22:44 > 0:22:50You know what they say about a good journalist?Go on.Inside every good
0:22:50 > 0:22:55journalist is a bad book! All right, let's move on.
0:22:55 > 0:22:57In a moment we'll take a look through the Business pages,
0:22:57 > 0:23:01but first here's a quick reminder of how to get in touch with us.
0:23:01 > 0:23:03Stay up-to-date with all the day's business news as it happens
0:23:03 > 0:23:05on the BBC's Business Live page.
0:23:05 > 0:23:07There's insight and analysis from our team of editors
0:23:07 > 0:23:11right around the globe and we want to hear from you.
0:23:11 > 0:23:13Get involved on the BBC's Business Live web page
0:23:13 > 0:23:14at bBC.com/business.
0:23:14 > 0:23:16On Twitter, we're at BBC business.
0:23:16 > 0:23:18And you can find us on Facebook at BBC Money.
0:23:18 > 0:23:21Business Live on TV and online, what you need to know,
0:23:21 > 0:23:28when you need to know.
0:23:28 > 0:23:30Nandini Ramakrishnan is Global Market Strategist at JP
0:23:30 > 0:23:36Morgan Asset Management.
0:23:36 > 0:23:42We have been asking about the story that's in the FT, about Facebook
0:23:42 > 0:23:47launching a messaging app for under 13s. Why are they doing it? It has
0:23:47 > 0:23:51got parental controls.It is an interesting way toll compete with
0:23:51 > 0:23:55Snapchat that people are using. Again, I don't know personally, but
0:23:55 > 0:24:00the lesm of usage is meant to be for anyone around the early age of six
0:24:00 > 0:24:03and older. So it's an interesting one. They have made it clear they
0:24:03 > 0:24:06are not going to have any advertisements and it will be
0:24:06 > 0:24:10parental controlled so perhaps it's a way for Facebook app and Facebook
0:24:10 > 0:24:13company generally to get in with competing with some of the other
0:24:13 > 0:24:18social media platforms. That's been our talking point on
0:24:18 > 0:24:21Twitter. Lots of you getting in touch as you can imagine P go for
0:24:21 > 0:24:26it, Ben.Simon saying such is the invasive business model of Facebook
0:24:26 > 0:24:29they want to get young children hooked on the addictive and damaging
0:24:29 > 0:24:35platform. Rosie says, "I thought you had to be 13 to use Facebook."
0:24:35 > 0:24:42Jerome says and this is good point that for FB, Facebook, is this just
0:24:42 > 0:24:46pointless PR because it is impossible to verify somebody's age.
0:24:46 > 0:24:51People pretend they are all sorts of things on social media. I know from
0:24:51 > 0:24:54personal experience, people's friends who have said they are over
0:24:54 > 0:24:5813 in order goat on Facebook when they are not. All that kind of thing
0:24:58 > 0:25:03is going on, isn't it?This move to get younger users eliminates that
0:25:03 > 0:25:07deceitful of signing up, but the bigger question you have young
0:25:07 > 0:25:11people messaging perhaps rather than doing what children maybe were doing
0:25:11 > 0:25:17in the past in as going outside and playing. Yeah, I think it would be a
0:25:17 > 0:25:19contentious issue for parents or teachers or anyone who is looking
0:25:19 > 0:25:23out for children, but if other apps are allowing kids to use it then
0:25:23 > 0:25:27perhaps this is Facebook jumping on that as well.
0:25:27 > 0:25:31It is interesting at the same time you have got Google announcing a
0:25:31 > 0:25:3610,000 strong army to tackle extremists. This is on Google. Part
0:25:36 > 0:25:41of that is to protect children who are so, who are on YouTube so much?
0:25:41 > 0:25:46Yes, one fact that struck out to me 500,000 hours of content are posted
0:25:46 > 0:25:49on YouTube and the commitment from Google and YouTube to have people
0:25:49 > 0:25:52review the content to make sure there is no extremist or disturbing
0:25:52 > 0:25:55things is going to be quite impressive.It is. Interesting to
0:25:55 > 0:26:01see. Thank you. Good to see you. Thank you too. We will see you again
0:26:01 > 0:26:01soon.