0:00:04 > 0:00:07This is Business Live from BBC News with Jamie Robertson
0:00:07 > 0:00:11and Sally Bundock.
0:00:11 > 0:00:13Banking regulation - will Europe's new financial rules
0:00:13 > 0:00:17prevent another crisis or just choke off investment?
0:00:17 > 0:00:21Live from London, that's our top story on Thursday, 7th December.
0:00:39 > 0:00:42It's ten years since the financial crisis, but up until now,
0:00:42 > 0:00:44there's been no agreement across Europe on how
0:00:44 > 0:00:45to stop it happening again.
0:00:45 > 0:00:49That could change at a meeting in Frankfurt later.
0:00:49 > 0:00:53We will tell you all you need to know.
0:00:53 > 0:00:55We will tell you all you need to know.
0:00:55 > 0:00:56Also in the programme...
0:00:56 > 0:00:59Sins of emission - a VW executive is jailed for seven
0:00:59 > 0:01:02years in the US for his role in the Dieselgate scandal And we'll
0:01:02 > 0:01:07be looking at the challenges facing agriculture this century.
0:01:07 > 0:01:10Markets are recovering from Wednesday's decline. We will talk
0:01:10 > 0:01:17you through the winners and losers. And we will be looking at challenges
0:01:17 > 0:01:20facing agriculture this century. Could the sea and seaweed provide a
0:01:20 > 0:01:27potential solution? As the world's biggest Starbucks opens in Shanghai,
0:01:27 > 0:01:33do you think we have got enough coffee shops?
0:01:33 > 0:01:38Just use the hashtag BBCBizLive.
0:01:38 > 0:01:43Hello and welcome to Business Live.
0:01:43 > 0:01:47We will be tasting seaweed bacon in about 15 minutes. Stay with us for
0:01:47 > 0:01:53that, if nothing else! Starting with an anniversary I'm sure you
0:01:53 > 0:01:55remember.
0:01:55 > 0:01:57It's ten years since the financial crisis -
0:01:57 > 0:02:00but still no pan-European agreement on how to stop it happening again.
0:02:00 > 0:02:03In Frankfurt today that could all change - we will tell
0:02:03 > 0:02:04you all you need to know.
0:02:04 > 0:02:07Central bank chiefs are expected to decide new rules -
0:02:07 > 0:02:10on just how much cash banks have to keep on hand for an emergency.
0:02:10 > 0:02:13They are known as Basel 3 after the Swiss city -
0:02:13 > 0:02:17but what are the key issues?
0:02:17 > 0:02:20Until now, banks have been allowed to decide for themselves how much
0:02:20 > 0:02:23cash they need to stash away.
0:02:23 > 0:02:29But under new rules, there will be what they call
0:02:29 > 0:02:31a standard approach to assess the riskiness
0:02:31 > 0:02:35of the mortgages, loans and debt that each bank holds.
0:02:35 > 0:02:38Basically, it will mean many European banks will need to hold
0:02:38 > 0:02:41more cash in reserve.
0:02:41 > 0:02:44And the banks argue that means less money to lend out
0:02:44 > 0:02:46which could damage the economy and it could make them
0:02:47 > 0:02:50less competitive.
0:02:50 > 0:02:55In the UK, rules have been tightened up since the crisis,
0:02:55 > 0:03:00with banks subjected to annual stress tests.
0:03:00 > 0:03:05Early last week, the Bank of England said all UK banks passed the latest
0:03:05 > 0:03:09tests.
0:03:09 > 0:03:10Gonzalo Gasos, Head of Banking Supervision
0:03:10 > 0:03:17at the European Banking Federation.
0:03:17 > 0:03:22The bottom line, is this going to make European banks safer in the
0:03:22 > 0:03:28financial crisis?Of course, but let me point out first that European
0:03:28 > 0:03:35banks have already largely accomplished the objectives set out
0:03:35 > 0:03:43in 2010 by the group of central bank governors and heads of supervision
0:03:43 > 0:03:47of Basel three. What we are discussing today are some
0:03:47 > 0:03:51complimentary details. European banks have three times more capital
0:03:51 > 0:03:55than before the crisis and that makes us more resilient and more
0:03:55 > 0:04:02able to face adversity. That is the most important piece of news today
0:04:02 > 0:04:13and there will be some compliments to finalise these very long ... From
0:04:13 > 0:04:18all regions across the world, the finalisation of the Basel three
0:04:18 > 0:04:23package means the end of the crisis. It sounds to me as though you are
0:04:23 > 0:04:27saying, there is no dramatic change today because the banks have been
0:04:27 > 0:04:33working at this for five, six years already. If there is not much of a
0:04:33 > 0:04:37change, everything carries on just the same as before, is that right?
0:04:37 > 0:04:42Well, my point is that we have already accumulated much more
0:04:42 > 0:04:46capital and liquidity than we had in the past. Now the new rules have
0:04:46 > 0:04:53some details that will need to be carefully assessed in a European
0:04:53 > 0:04:56impact assessment that should be rigorous enough to understand what
0:04:56 > 0:05:03impact will be in certain portfolios like residential mortgages, trade
0:05:03 > 0:05:09finance, project finance.Do you think it will make banks less
0:05:09 > 0:05:16willing or able to lend?Well, that depends on the final details of the
0:05:16 > 0:05:23agreement. It will be published later today. And how we have to
0:05:23 > 0:05:27assess that impact in certain portfolios. At the end of the day,
0:05:27 > 0:05:34more capital beyond a certain level only means a higher cost for banks
0:05:34 > 0:05:41and therefore for borrowers who are the citizens in our European Union.
0:05:41 > 0:05:44Thank you very much indeed.
0:05:44 > 0:05:47Let's take a look at some of the other stories making the news.
0:05:47 > 0:05:49One of Volkswagen's top executives has been sentenced
0:05:49 > 0:05:52to seven years in prison and fined $400,000 for his role
0:05:52 > 0:05:53in the Dieselgate scandal.
0:05:53 > 0:05:56The judge described Oliver Schmidt as a key conspirator in this scheme
0:05:56 > 0:06:06to defraud the United States.
0:06:06 > 0:06:11More on that story later. It is all over the press.
0:06:11 > 0:06:13Bitcoin has soared to a new record high, above $14,000.
0:06:13 > 0:06:18The virtual currency has surged from below $1,000 at the beginning
0:06:18 > 0:06:21of the year, despite questions about its real value and worries
0:06:21 > 0:06:23about a dangerous bubble.
0:06:23 > 0:06:26Steinhoff International - the owner of Poundland in the UK -
0:06:26 > 0:06:29has seen its shares fall by another 18% this Thursday.
0:06:29 > 0:06:32They plunged by almost two thirds on Wednesday after the South African
0:06:32 > 0:06:34group announced a probe into accounting irregularities.
0:06:34 > 0:06:36Chief executive Markus Jooste has resigned and the firm has
0:06:36 > 0:06:45postponed its full-year results.
0:06:51 > 0:06:56Let us have a look at the markets now.
0:06:56 > 0:06:58The International Monetary Fund has raised the alarm about the high
0:06:58 > 0:07:01level of debt in China, saying it poses a risk
0:07:01 > 0:07:02to financial stability.
0:07:02 > 0:07:07That hasn't gone down well in Beijing.
0:07:07 > 0:07:11You might think we have heard this before, the IMF behind the curve,
0:07:11 > 0:07:12perhaps.
0:07:12 > 0:07:13Let's go to our Asia
0:07:13 > 0:07:17business hub where Leisha Santorelli is following the story.
0:07:17 > 0:07:21Quite often the IMF says things many have been talking about for months.
0:07:21 > 0:07:26That is correct but the IMF is not crying wolf because the risks
0:07:26 > 0:07:30China's economy faces from a build up of debt in the financial sector
0:07:30 > 0:07:37does risk triggering another crisis. The IMF's report actually is another
0:07:37 > 0:07:42comprehensive assessment of how China's financial system has been
0:07:42 > 0:07:46since 2011 and examining whether China is doing enough to address all
0:07:46 > 0:07:50of the debt. China has relied on exports and investment to drive its
0:07:50 > 0:07:53economy but many believe the growth model has reached its limits and the
0:07:53 > 0:08:00build up of debt is posing a big risk. The IMF is arguing China has
0:08:00 > 0:08:05to put financial stability above its pursuit of high-growth or GDP
0:08:05 > 0:08:08figures and it is recommending Chinese banks increase their cash
0:08:08 > 0:08:16cushion to protect against an economic downturn.Thank you. As far
0:08:16 > 0:08:20as markets in Asia, not perturbed by the news from the IMF whatsoever,
0:08:20 > 0:08:26very strong session today. Japan as well, up over 1%. A really good
0:08:26 > 0:08:30session. This follows quite a bit decline for Asian markets on
0:08:30 > 0:08:36Wednesday. Wednesday marked the eighth day in a row of declines for
0:08:36 > 0:08:40Asian markets. There has been a bounce back today, but behind me,
0:08:40 > 0:08:45you can see the Dow down slightly. You're right now... The markets have
0:08:45 > 0:08:57been going for nearly 40 minutes -- the FTSE right now. GDC is
0:08:57 > 0:09:07interested in buying Lord -- Ladbrokes Coral. We will talk more
0:09:07 > 0:09:09about the movers and shakers.
0:09:09 > 0:09:11And Samira Hussain has the details about what's ahead
0:09:11 > 0:09:12on Wall Street Today.
0:09:12 > 0:09:17The US Federal reserve on Thursday is likely to report extended credit
0:09:17 > 0:09:23rose to 17.50 billion dollars in October. In earnings news, discount
0:09:23 > 0:09:28store dollar general will be reporting. The company has been
0:09:28 > 0:09:33cutting prices more aggressively as it looks to try to better compete in
0:09:33 > 0:09:39the grocery industry. Amazon's purchase of Whole Foods is heating
0:09:39 > 0:09:45up grocery wars. Companies like Walmart are ramping up grocery
0:09:45 > 0:09:48offerings to compete against the online retailing giant. And we will
0:09:48 > 0:09:54continue to watch lawmakers in Washington try to get a spending
0:09:54 > 0:09:57deal in place to avert a government shutdown. Congress has until
0:09:57 > 0:10:02midnight on Friday to come up with a short-term spending bill. Without
0:10:02 > 0:10:04any legislation in place, the government will begin shutting down
0:10:04 > 0:10:10on Saturday.Interesting. Perhaps another fiscal cliff. We remember
0:10:10 > 0:10:13that!
0:10:13 > 0:10:14Joining us is Maike Currie, investment director
0:10:15 > 0:10:17at Fidelity International.
0:10:17 > 0:10:23You wanted to focus on the states, quite a few issues, jobs report out,
0:10:23 > 0:10:26all sorts.Investors are keeping an eye on the possibility of a
0:10:26 > 0:10:33government shutdown, also Donald Trump's tax reforms, and tomorrow,
0:10:33 > 0:10:38the payrolls are out. Expectations are jobs will be slightly more
0:10:38 > 0:10:41muted. Quite a strong month last month because the figures were much
0:10:41 > 0:10:48better after the Hurricanes had muted previous figures. This matters
0:10:48 > 0:10:51because next week, Wednesday, the Fed will give its announcement on
0:10:51 > 0:10:56whether it will raise interest rates and expectations are it will go
0:10:56 > 0:11:05ahead with the rate rise of 0.25%. It is interesting because the US has
0:11:05 > 0:11:09led stock markets higher, it is looking quite pricey, investors are
0:11:09 > 0:11:14questioning how long it can continue, but the US is home to the
0:11:14 > 0:11:20stocks that are offering growth that investors need in an era a very
0:11:20 > 0:11:25paltry growth. Fundamental good results coming out from these
0:11:25 > 0:11:29companies, very good reporting earlier, a month ago, so there is
0:11:29 > 0:11:33justification for the prices. What investors really want to do is
0:11:33 > 0:11:40wrapped that arms around the gold standard -- gold standard, in
0:11:40 > 0:11:44technology, sustainable growth. The tech companies are spending a lot,
0:11:44 > 0:11:49but they are doing it to invest in all sectors so they can continue
0:11:49 > 0:11:54dominating.Thank you very much. You will return later to talk about some
0:11:54 > 0:12:02of the other stories. We have more to come. They say see food and eat
0:12:02 > 0:12:11it. Seaweed diet! Do not say that too quickly! Seashells. That is all
0:12:11 > 0:12:19coming up on Business Live. She sells seaweed...
0:12:22 > 0:12:26I am very hungry right now.
0:12:26 > 0:12:28The majority of businesses expect the fall in sterling
0:12:28 > 0:12:29to increase their costs.
0:12:29 > 0:12:33A British Chambers of Commerce survey of over 1,000 businesses
0:12:33 > 0:12:36found that 63% of businesses expect their costs to increase
0:12:36 > 0:12:39in the next 12 months as a result of the devaluation in sterling.
0:12:39 > 0:12:42A quarter of businesses expect costs to rise significantly.
0:12:42 > 0:12:48In comparison, only 6% of firms expect their costs to decrease.
0:12:48 > 0:12:52Anastassia Beliakova is the Head of Trade Policy
0:12:52 > 0:12:57at the British Chambers of Commerce and she joins us from the newsroom.
0:12:57 > 0:13:02What I find odd is the timing. It seems we have had the big increase
0:13:02 > 0:13:09in inflation as a result of the devaluation of the pound. That is
0:13:09 > 0:13:12last year's story, yet you are saying they are worried this will
0:13:12 > 0:13:18keep on going?What is striking about the findings in the survey
0:13:18 > 0:13:21with American Express is that companies, despite the fact they
0:13:21 > 0:13:28have been facing pressures from the fall in sterling over the past year,
0:13:28 > 0:13:32they have not been hedging against currency risks. A number of things
0:13:32 > 0:13:37they could do to protect themselves, half of the firms almost we
0:13:37 > 0:13:40surveyed, despite higher costs, they have not hedged against currency
0:13:40 > 0:13:46risks.I am surprised to hear that. This is because of lack of
0:13:46 > 0:13:50information but also company is not being proactive in terms of
0:13:50 > 0:13:54protecting themselves. There are so many things they could do, take out
0:13:54 > 0:13:58insurance against currency risks, sign forward contracts to lock in
0:13:58 > 0:14:02the particular exchange rate, but many are waiting and whilst they are
0:14:02 > 0:14:06waiting, they are seeing costs rise. They need to take action to protect
0:14:06 > 0:14:11themselves.Do you think the result will be they will feed those costs
0:14:11 > 0:14:16through into higher prices or reduce staff levels or cutting costs, how
0:14:16 > 0:14:21will they deal with it?We're not seeing at the moment this expressed
0:14:21 > 0:14:25in higher prices. But a number of companies are saying this is
0:14:25 > 0:14:30something they are considering. This is worrying of course and it also
0:14:30 > 0:14:33highlights the importance of trying to cut down costs before they are
0:14:33 > 0:14:37passed onto consumers and before they force companies to make quite
0:14:37 > 0:14:42significant changes to how they are run.Thank you very much indeed.
0:14:42 > 0:14:47More detail on that story on the Business Live page including other
0:14:47 > 0:14:54stories like house prices, the fifth month of rising house prices
0:14:54 > 0:15:01according to the Halifax.
0:15:01 > 0:15:04You're watching Business Live, our top story:
0:15:04 > 0:15:06Central Bank bosses are expected to decide new rules later today
0:15:07 > 0:15:08at a meeting in Frankfurt.
0:15:08 > 0:15:10Known as Basel 3, they would require many European
0:15:10 > 0:15:15banks to hold more cash in reserve.
0:15:15 > 0:15:18It is designed to try to reduce the likelihood of another financial
0:15:18 > 0:15:26crisis. Some say it would mean there would be less money to lend out and
0:15:26 > 0:15:27it would damage the economy.
0:15:27 > 0:15:28it would damage the economy.
0:15:28 > 0:15:33A quick look at how markets are faring.
0:15:33 > 0:15:44They are all heading higher, in the right direction, not a big jump. I
0:15:44 > 0:15:49have got some bags here are my left. We shall explain about that in a
0:15:49 > 0:15:50moment.
0:15:52 > 0:15:54We shall explain about that in a moment.
0:15:54 > 0:15:56Agriculture in the 21st century faces many challenges as a growing
0:15:56 > 0:15:58global population puts pressure on water and land resources.
0:15:58 > 0:16:01So with the number of people on earth expected to hit 9 billion
0:16:01 > 0:16:04by 2050, how can we produce enough food to feed everyone?
0:16:04 > 0:16:08Well, one man thinks he has a solution.
0:16:08 > 0:16:13Seaweed needs just sea and sunlight to grow,
0:16:13 > 0:16:15and according to Dutch entrepreneur Willem Sodderland, it is the most
0:16:15 > 0:16:19sustainable food on the planet.
0:16:19 > 0:16:23In fact, it's becoming so popular, that earlier this month the Marine
0:16:23 > 0:16:27and Aquaculture stewardship councils launched a certification scheme
0:16:27 > 0:16:29for seaweed to set minimum requirements for growing
0:16:29 > 0:16:31and farming it.
0:16:31 > 0:16:35After realising the health and environmental benefits
0:16:35 > 0:16:39of seaweed, Sodderland launched Seamore in 2015, with a mission
0:16:39 > 0:16:42to make seaweed an everyday food.
0:16:42 > 0:16:48Joining us now is Willem Sodderland, founder and CEO of Seamore.
0:16:49 > 0:16:55He is here with his various samples. And some place as well.
0:16:55 > 0:17:02I know you are hungry. I like that one. We have got seaweed
0:17:02 > 0:17:06bacon and seaweed pasta. You could if freshly for us this morning.
0:17:06 > 0:17:14Absolutely.Tell us how and why you started this.I was in a restaurant
0:17:14 > 0:17:18and ordered a seaweed salad and I got a plate and I could not find any
0:17:18 > 0:17:24seaweed on it and it turned out the tagliatelle on the plate was the
0:17:24 > 0:17:29seaweed. That gave me the idea to look into it to see if you could
0:17:29 > 0:17:33swap carbohydrates for vegetables which is something we were looking
0:17:33 > 0:17:40into in my household.What do you think? I like that one. You used
0:17:40 > 0:17:46crowdfunding? You'll yes, we did and we tested the product with
0:17:46 > 0:17:53consumers. How much did you raise? We raised about 100,000 in the
0:17:53 > 0:17:56beginning and then we raised more from banks and also from former
0:17:56 > 0:18:03investors.How do you put it out there to get all those people
0:18:03 > 0:18:08interested? What do you say to them? You start with a small group of
0:18:08 > 0:18:13testers and you ask them to get it out there. You bring the story to
0:18:13 > 0:18:16the media and you create storytelling basically. Then it is
0:18:16 > 0:18:23picked up. Sorry, you ask a question.
0:18:23 > 0:18:31I know you are fascinated. Pass me the bag of pasta. I could pass that
0:18:31 > 0:18:36all the time, I have got three kids and it is great. This takes awhile
0:18:36 > 0:18:46to cook. How much is it? In terms of price? That is a little bit over £5.
0:18:46 > 0:18:51£5 for a bag of pasta, a bag of seaweed. How do you overcome
0:18:51 > 0:18:59people's perception of it?It is one of the reasons why we are presenting
0:18:59 > 0:19:02it as a healthy good alternative because people know what to expect
0:19:02 > 0:19:07an do with it. Pasta and bacon. If you give seaweed to people, they
0:19:07 > 0:19:12have no clue where to start.You are selling it as a luxury item. You
0:19:12 > 0:19:17will not solve the world's food crisis with this.We have to start
0:19:17 > 0:19:22somewhere. With the wraps we are introducing we are getting close to
0:19:22 > 0:19:31normal price.We must ask about the sustainability of this. Many people
0:19:31 > 0:19:36will be saying do we want the world food crisis solved by people
0:19:36 > 0:19:40harvesting the oceans. What about the ecosystem of the oceans?
0:19:40 > 0:19:45Obviously that is concerned. Firing of seaweed in a shed space on a
0:19:45 > 0:19:52large scale. That is why it is so good that they came with standards
0:19:52 > 0:19:56of harvestable farming. But we have to get our food from somewhere and
0:19:56 > 0:20:00we have more ocean than we have of land and there is a compelling
0:20:00 > 0:20:10reason to look to the ocean for food.The sea is closer. It is very
0:20:10 > 0:20:16salty. That is sea salt obviously. That is because it is a replacement
0:20:16 > 0:20:21for bacon and bacon is salty and that is why it makes sense.We have
0:20:21 > 0:20:25run out of time. Thank you for coming in and cooking for us, we
0:20:25 > 0:20:30appreciate it. It is good. It is delicious. Seaweed
0:20:30 > 0:20:31bacon butty with ketchup.
0:20:31 > 0:20:33Seaweed bacon butty with ketchup.
0:20:33 > 0:20:35The boss of global bank Standard Chartered has been speaking
0:20:35 > 0:20:36to our business editor Simon Jack.
0:20:36 > 0:20:38He described contingency planning for Brexit as "expensive,
0:20:38 > 0:20:39complicated and inconvenient".
0:20:39 > 0:20:42And he's concerned young people from outside the UK are already
0:20:42 > 0:20:44being put off a career in London.
0:20:44 > 0:20:47We have already had some setbacks for the talent pool in London
0:20:47 > 0:20:52through the restrictions of student visas, that is already a problem.
0:20:52 > 0:20:56Some of the best talent that we can have in the UK marketplace
0:20:56 > 0:20:59are coming from students who have chosen to study here and then stayed
0:20:59 > 0:21:01for some extended period afterwards.
0:21:01 > 0:21:05And you have noticed that impact already?
0:21:05 > 0:21:15We have noticed that impact already more through a sense from non-UK
0:21:18 > 0:21:21foreigners that this might not be such a hospitable place any longer.
0:21:21 > 0:21:23So it is more psychological psychological than contractual as it
0:21:23 > 0:21:26were, but it is something we might be really careful about.
0:21:26 > 0:21:28The UK has been successful largely because it has been a welcoming
0:21:28 > 0:21:31place for talent from any part of the world.
0:21:31 > 0:21:33I know when I listen to the government spokespeople
0:21:33 > 0:21:35they say that that will continue, that is the intention,
0:21:35 > 0:21:37unfortunately not all of the body language and references
0:21:37 > 0:21:40support the rhetoric.
0:21:40 > 0:21:44That interview with the boss of Standard Chartered is on our
0:21:44 > 0:21:50website, so if you want to see it in full, take a look. Maike Currie is
0:21:50 > 0:21:56back as promised.
0:21:56 > 0:22:02We have got to mention diesel gate. One of the top executives in the US
0:22:02 > 0:22:06behind bars.And he has received the maximum sentence of five years, so
0:22:06 > 0:22:13it will be a deterrent. A few days ago. Wogan reported it had hit its
0:22:13 > 0:22:18targets three years ahead of schedule. Two years on since the big
0:22:18 > 0:22:23scandal it is on track and it is on the offensive rather than the
0:22:23 > 0:22:30defensive.It has managed to say that was then, this is now. There is
0:22:30 > 0:22:36an emphasis also on electric cars. They will have electric versions by
0:22:36 > 0:22:412025.Absolutely, it has done a fantastic job. It used this scandal
0:22:41 > 0:22:45as a catalyst for change. There was a lot of concern about brand image
0:22:45 > 0:22:53at the time and they have emerged as the winner.Oliver Schmidt has been
0:22:53 > 0:22:57put behind bars because of the diesel scandal. Let's move on to the
0:22:57 > 0:23:04scandal in Shanghai. This coffee shop is huge. Do we need more coffee
0:23:04 > 0:23:08shops? Tell us more about their expansion.We know China is a
0:23:08 > 0:23:13country where T is the favourite drink, but there is a lot of
0:23:13 > 0:23:17interest and Starbucks is reporting it is opening a new coffee shop
0:23:17 > 0:23:23every 15 hours which is staggering. It is moving into the emerging
0:23:23 > 0:23:29world.Starbucks expansion, there seems to be no holding back right
0:23:29 > 0:23:34now. We asked our viewers if they think we need more coffee shops.
0:23:34 > 0:23:43Jill says it is a shame they are not combining with other shops.
0:23:43 > 0:23:50Especially in villages and remote locations.We have too many bad ones
0:23:50 > 0:23:54from calling themselves Artisan and not many good ones. Are you a fan of
0:23:54 > 0:24:00a coffee shop?I am a huge fan of coffee and coffee takeaways. The
0:24:00 > 0:24:03coffee culture in the UK has exploded and people are a lot more
0:24:03 > 0:24:08discerning. They are not going to big brand names, they are going to
0:24:08 > 0:24:13independent coffee shops. Starbucks in the UK is struggling because of
0:24:13 > 0:24:17that, our consumption is changing. It is more about the experience,
0:24:17 > 0:24:22going for coffee and experiencing something else.One guy in the New
0:24:22 > 0:24:27York Times says, once love has begun, it never ends. He obviously
0:24:27 > 0:24:34likes his coffee estimation mark somebody says there are coffee shops
0:24:34 > 0:24:40and there are coffee shops and there are coffee flavoured frothy milk
0:24:40 > 0:24:48shops. 280 calories. There are also more coffee shops then you can shake
0:24:48 > 0:24:52your beans that. We have far too many bad ones from
0:24:52 > 0:24:58calling themselves Artisan and they are not very good ones. Starbucks
0:24:58 > 0:25:01said they would have one on every single corner.
0:25:01 > 0:25:06That was the ambition. If Shanghai is the way they are going, they are
0:25:06 > 0:25:13not holding back.I think the more choice, the better.Have we got onto
0:25:13 > 0:25:15the subject of whether they pay their taxes?
0:25:15 > 0:25:21We have not got time for that. Thank you so much for coming in, it has
0:25:21 > 0:25:25been great having you here. Did you try that seaweed pasta?No, I will
0:25:25 > 0:25:33try it.The Green room is even greener than ever today.
0:25:33 > 0:25:41Because it has got some green pasta. It takes quite a long time to cook.
0:25:41 > 0:25:4440 minutes to soak it in cold water and 20 minutes to cook.
0:25:44 > 0:25:51We have got all the instructions here. 20 minutes to soak and 20
0:25:51 > 0:25:54minutes to cook it. But it is £5 about.
0:25:54 > 0:25:59That is what I am worried about. That is all from today, join us
0:25:59 > 0:26:01again tomorrow.