0:00:06 > 0:00:09This is Business Live from BBC News with Victoria
0:00:09 > 0:00:10Fritz and Rachel Horne.
0:00:10 > 0:00:11The crisis deepens for Spain,
0:00:11 > 0:00:14as Catalan separatists win a key election victory in a poll
0:00:14 > 0:00:18that was supposed to see off their challenge once and for all.
0:00:18 > 0:00:21Live from London, that's our top story on Friday, 22nd December.
0:00:41 > 0:00:46The Spanish economy has only just recovered to pre-crisis levels.
0:00:46 > 0:00:48Will the election uncertainty halt its recent progress?
0:00:48 > 0:00:55We'll cross live to Barcelona to hear what's next for Catalonia.
0:00:55 > 0:00:57One of the most economic league important regions in the whole of
0:00:57 > 0:01:02Spain. -- economically important regions.
0:01:02 > 0:01:03Also in the programme....
0:01:03 > 0:01:05The US government avoids a Christmas blackout as it
0:01:05 > 0:01:06passes a new funding bill.
0:01:06 > 0:01:09We'll be looking back at a landmark year for
0:01:09 > 0:01:12the world's biggest economy.
0:01:12 > 0:01:17Also, the very latest on the markets. Bitcoin took a bit of a
0:01:17 > 0:01:21hammering overnight. Elsewhere, Spanish stocks weighing down, banks
0:01:21 > 0:01:24leading the charge lower after separatists claimed the narrow
0:01:24 > 0:01:26victory.
0:01:26 > 0:01:28And we'll be getting the inside track with our
0:01:28 > 0:01:29Business Editor, Simon Jack.
0:01:29 > 0:01:32Taking a look back on a week in which the oil giant Shell faces
0:01:32 > 0:01:34major allegations of corruption. And, first we had the plastic
0:01:34 > 0:01:37bag charge, but how about the plastic bottle charge?
0:01:37 > 0:01:40MPs are calling for a introduction of a deposit scheme in an attempt
0:01:40 > 0:01:42to protect the seas from plastic pollution.
0:01:42 > 0:01:43What do you think?
0:01:43 > 0:01:46Just use the hashtag #BBCBizLive.
0:01:54 > 0:01:59Hello, and welcome to Business Live.
0:01:59 > 0:02:02We start in the Spanish region of Catalonia,
0:02:02 > 0:02:05where separatists have won a crucial election victory in a poll that
0:02:05 > 0:02:09Prime Minister Mariano Rajoy had hoped would see off the crisis.
0:02:09 > 0:02:11Instead, it has made it worse, plunging one of Europe's biggest
0:02:11 > 0:02:14economies into further uncertainty. Catalonia is hugely
0:02:14 > 0:02:16important for Spain - it represents a fifth
0:02:16 > 0:02:22of the national economy.
0:02:22 > 0:02:2419%.
0:02:24 > 0:02:26Spain was one of Europe's biggest casualties following the financial
0:02:26 > 0:02:27crisis ten years ago.
0:02:27 > 0:02:30The country has made a solid recovery in the last couple
0:02:30 > 0:02:32of years, but over 17% of the workforce
0:02:32 > 0:02:33is still unemployed.
0:02:33 > 0:02:39Only Greece has a higher jobless rate in the eurozone.
0:02:39 > 0:02:43Businesses certainly haven't hung about waiting for the result.
0:02:43 > 0:02:46Almost 3,000 firms have moved their legal headquarters out
0:02:46 > 0:02:48of Catalonia, including the region's biggest banks,
0:02:48 > 0:02:53Caixabank and Sabadell.
0:02:53 > 0:02:55Rachel.
0:02:55 > 0:03:03Joining us now from Barcelona is Professor Samer Ajour.
0:03:04 > 0:03:10Thank you for joining us. Very much the aim for many in these elections
0:03:10 > 0:03:13was to try and clear up the situation, but it seems to have
0:03:13 > 0:03:20increased the confusion.Right, first of all, good morning to
0:03:20 > 0:03:24everyone from Barcelona. In fact, we had a very hard day yesterday. We
0:03:24 > 0:03:30were expecting a bit more of a different let's say election
0:03:30 > 0:03:33answers, but it seems that it's going to be a little bit complicated
0:03:33 > 0:03:37because, as you've realised, the elections went in a different way,
0:03:37 > 0:03:42and now it's going to be blocked again if they don't seek a
0:03:42 > 0:03:45coalition, because the only thing that investors really want here is a
0:03:45 > 0:03:50little bit of stability. And if we're going to have again this
0:03:50 > 0:03:54block, we're not going to have stability again. That's a major
0:03:54 > 0:04:02concern right now for the whole economy. And it's one of the biggest
0:04:02 > 0:04:05economic elements in Spain. So if we're going to have this problem
0:04:05 > 0:04:10again for the upcoming six months, I'm not going to be passed mystic,
0:04:10 > 0:04:17but I'm not C and light at the end of the tunnel.We were talking about
0:04:17 > 0:04:21investors, businesses, looking for stability, they haven't received any
0:04:21 > 0:04:25certainty today. Moving forward, what damage is this doing to the
0:04:25 > 0:04:29day-to-day economy in Catalonia, and as a consequence to Spain's economy?
0:04:29 > 0:04:36The thing is, Catalonia and Spain to rely so much on each other because
0:04:36 > 0:04:40basically it's really simple, because they don't have a lot of
0:04:40 > 0:04:43resources, you see. So the lack of resources, we do need to have
0:04:43 > 0:04:47stability. Which means that if we're depending so much on the service
0:04:47 > 0:04:52sector, if we're lacking this sector, then where lacking
0:04:52 > 0:04:58investors, foreign investors or locals, they're going to add
0:04:58 > 0:05:01additional, you know, risk category on the whole portfolio, and that's
0:05:01 > 0:05:07going through quite a bit of risk compensation. So anyone who wants to
0:05:07 > 0:05:12invest here, any company that wants to proceed with the business in
0:05:12 > 0:05:15Catalonia, but acquire a little bit more of this additional risk that
0:05:15 > 0:05:19we're having currently because of the political situation. This
0:05:19 > 0:05:23additional compensation is a bit, you know, hard to attain. Because we
0:05:23 > 0:05:27have a lot of conditions than the rest of Spain. That's why we've been
0:05:27 > 0:05:32having a lot of companies going to the rest of Spain. So whenever we
0:05:32 > 0:05:36have around 3000...Professor Samer Ajour, we're going to have to leave
0:05:36 > 0:05:39it there. Thank you for joining us from Barcelona.
0:05:39 > 0:05:42Let's take a look at some of the other stories making the news...
0:05:42 > 0:05:44A South Korean court has sentenced the 95-year-old founder
0:05:44 > 0:05:47of Lotte Group to four years in prison for embezzlement.
0:05:47 > 0:05:50Shin Kyuk-ho was indicted last year, along with three members
0:05:50 > 0:05:52of his family, on charges including tax evasion and fraud.
0:05:52 > 0:05:54His son and successor, Shin Dong-bin, was given
0:05:54 > 0:05:55a suspended 20-month prison.
0:05:55 > 0:05:59Lotte Group is South Korea's fifth largest conglomerate.
0:05:59 > 0:06:02The US Congress has passed a short-term funding bill to keep
0:06:02 > 0:06:05the federal government running for four more weeks just a day
0:06:05 > 0:06:07before funding was due to expire.
0:06:07 > 0:06:09Without the budget deal, US government departments
0:06:09 > 0:06:14would have been forced to shut down this weekend.
0:06:14 > 0:06:16The executive chairman of Alphabet, that's Google's parent company,
0:06:16 > 0:06:17is to step down in January.
0:06:17 > 0:06:21Eric Schmidt, who has been with the tech giant since 2001,
0:06:21 > 0:06:24will remain on the board as a technical adviser on science
0:06:24 > 0:06:30and technology issues.
0:06:30 > 0:06:36Alphabet said it appoints to -- it expects to appoint a replacement
0:06:36 > 0:06:40later this year. Let's check in with the markets.
0:06:40 > 0:06:43China stocks dipped on Friday as weakness in banking and consumer
0:06:43 > 0:06:45stocks offset gains in the energy sector, but the indexes
0:06:45 > 0:06:47were up for the week.
0:06:47 > 0:06:52Asian stocks more generally edged up though on new data pointing
0:06:52 > 0:06:54to steady growth in the US economy.
0:06:54 > 0:06:55Over in Europe, investors
0:06:55 > 0:06:58are digesting the news of the Catalan separatist victory
0:06:58 > 0:07:06and it's the euro that's the focus.
0:07:06 > 0:07:09Although at this time of year we're seeing pretty thin trading,
0:07:09 > 0:07:11many have clocked off and closed up their investment
0:07:11 > 0:07:19positions ahead of Christmas.
0:07:19 > 0:07:21Some speculators appeared to have sold the euro already.
0:07:21 > 0:07:24The overall impact of the Catalan vote on the euro and the wider
0:07:24 > 0:07:26global markets is likely to be limited, however.
0:07:26 > 0:07:28Catalonia cannot become a sovereign state if no other country
0:07:28 > 0:07:29recognises its independence.
0:07:29 > 0:07:31It won't even be able to have its own currency
0:07:31 > 0:07:32It won't even be able to have its own currency
0:07:32 > 0:07:34under such conditions.
0:07:34 > 0:07:36under such conditions.
0:07:36 > 0:07:38Let's head over to the States now.
0:07:38 > 0:07:41Yogita Limaye has the details about what's ahead on Wall Street
0:07:41 > 0:07:42today.
0:07:42 > 0:07:45It is the last day of trading before the long Christmas weekend
0:07:45 > 0:07:48and there is a whole lot of economic data coming out.
0:07:48 > 0:07:50The Federal Reserve will be watching closely for an inflation measure
0:07:50 > 0:07:53that it likes to look at when making decisions, the Personal Consumption
0:07:53 > 0:07:54Expenditures Price Index.
0:07:54 > 0:07:57It factors in prices paid by consumers here in the US
0:07:57 > 0:07:59for goods and services, but without the volatility
0:07:59 > 0:08:00of food and energy costs.
0:08:00 > 0:08:03This rate is expected to have gone up by 0.1% in November.
0:08:03 > 0:08:05The US Commerce Department will release the number of new homes
0:08:05 > 0:08:09that have been sold last month and that is likely to have fallen
0:08:09 > 0:08:12compared to October.
0:08:12 > 0:08:14Investors will also find out how demand for capital goods
0:08:14 > 0:08:18made in the US is faring and that is expected to have risen.
0:08:22 > 0:08:29Joining us is Shaun Port, Chief Investment Officer
0:08:29 > 0:08:32at investment management company Nutmeg.
0:08:32 > 0:08:36Thank you for joining us. We want to talk about the year the markets have
0:08:36 > 0:08:42had. We have seen phenomenal gains, the MSCI, which tracks 47 markets
0:08:42 > 0:08:47around the world, is up 27%. What has been driving the industry is up
0:08:47 > 0:08:50with yellow investors have become more confident about the global
0:08:50 > 0:08:55economy, the globalhas done really well at the moment and growth has
0:08:55 > 0:08:59become so nice. Developing markets and emerging markets are doing well
0:08:59 > 0:09:03at the same time. -- growth has become synchronised. Investors are
0:09:03 > 0:09:08more optimistic, it has been driving earnings up, and political risk is
0:09:08 > 0:09:13going down despite we saw in Spain overnight.It was a lack of
0:09:13 > 0:09:17volatility, but a chaotic news cycle. It's just not being driven by
0:09:17 > 0:09:21the same agenda any more.It's really interesting, actually. Is the
0:09:21 > 0:09:28news about Catalonia today, if you had played that wacky year ago, --
0:09:28 > 0:09:33if you had played that back a year ago, it would not have done as well.
0:09:33 > 0:09:38Fundamentals are doing really well at the moment, it's good news.
0:09:38 > 0:09:42Low-interest rates have been contributing to this, and the cheap
0:09:42 > 0:09:47money in the markets. But those are starting to change. Moving into
0:09:47 > 0:09:522018, will we continue to see these big games, or is it time for the
0:09:52 > 0:09:55markets to calm down a little bit?I think we will see a coming down of
0:09:55 > 0:09:59the markets. The emerging markets delivered more than 30%, incredible
0:09:59 > 0:10:06game. We won't see a continuation of that in 2018. Growth is
0:10:06 > 0:10:09accelerating, if anything. US tax cuts coming in, maybe more
0:10:09 > 0:10:14infrastructure spending in the US, and global growth is looking strong
0:10:14 > 0:10:18so games will continue but not at the levels we have seen this year.
0:10:18 > 0:10:22Investment managers have got to put the money somewhere. If you have a
0:10:22 > 0:10:26pension fund and you're given the money to invest somewhere, they have
0:10:26 > 0:10:29to put it somewhere. The alternative is at the moment don't look great.
0:10:29 > 0:10:34Is that why the equity markets have been stronger silly if you look at
0:10:34 > 0:10:38Government bonds, here in the UK they areincredibly expensive,
0:10:38 > 0:10:46investors don't like the returns, equities look much more interesting.
0:10:46 > 0:10:52Generally, investors haven't enjoyed the last nine years of equity
0:10:52 > 0:10:57markets going up, not everyone has enjoyed this raise. Investors are
0:10:57 > 0:11:01now starting to believe there are gains ahead, good news.They still
0:11:01 > 0:11:05get bonuses, don't they? I think they have been enjoying it a little
0:11:05 > 0:11:10bit! What will you be focusing on next year?Politics is always front
0:11:10 > 0:11:14and centre, but what happens in 2019 is going to fascinate investors.
0:11:14 > 0:11:18When does the US economy start to turn down towards a recession into
0:11:18 > 0:11:242019? That is going to be a theme. And Brexit as well. Shaun Cummings
0:11:24 > 0:11:30you will be back to look at the papers at the end of the programme.
0:11:30 > 0:11:32Still to come...
0:11:32 > 0:11:37We'll be getting the inside track
0:11:37 > 0:11:38with our business editor, Simon Jack.
0:11:38 > 0:11:42Taking a look back on a week in which the oil giant Shell faces
0:11:42 > 0:11:43major allegations of corruption.
0:11:43 > 0:11:45You're with Business Live from BBC News.
0:11:45 > 0:11:52Are you prepared for Christmas dinner?
0:11:52 > 0:11:56Lots of us still aren't.
0:11:56 > 0:11:59I'm not, we've got them coming over after my shift finishes and we've
0:11:59 > 0:12:03still got some shopping to do.
0:12:03 > 0:12:07Today is expected to be the busiest day of the year for food and drink
0:12:07 > 0:12:09sales as we stock up for the big day.
0:12:09 > 0:12:12Ben Thompson is at a supermarket in east London, where the doors
0:12:12 > 0:12:13opened bright and early.
0:12:13 > 0:12:17He has managed to turn work into leisure! That doesn't look like you,
0:12:17 > 0:12:22Ben! There you are! I love your jumper!Thank you! But how dare you
0:12:22 > 0:12:27say that this is leisure, I've got a big list of things to pick up and
0:12:27 > 0:12:33bring back for you guys, you should see the state of my trolley. Really
0:12:33 > 0:12:36busy 48-hour as for the supermarkets. We are expected to
0:12:36 > 0:12:42spend a staggering £1.5 billion over the next two days as we stock up on
0:12:42 > 0:12:46all of that food and drink before the big day. And the supermarkets
0:12:46 > 0:12:50are clearly gearing up. Prices are bit higher than this time last year.
0:12:50 > 0:12:54We've talked a lot about inflation, but sales expected to be up on last
0:12:54 > 0:12:58year. Let me introduce you to Jennifer from Morrisons. How would
0:12:58 > 0:13:03you prepare for this and make sure you've got the right stuff on the
0:13:03 > 0:13:06right Charles Tapper Right Time was but it's a really busy time of the
0:13:06 > 0:13:11year and we're doing everything we canto prepare. We are due to sell
0:13:11 > 0:13:15nearly twice this week as we would in a normal week. It is a big
0:13:15 > 0:13:19logistical challenge. We have 1000 lorries on the road delivering stock
0:13:19 > 0:13:23to our stores and a new online stock ordering system that we are able to
0:13:23 > 0:13:26use to make sure that we have the right stock on the right Charles at
0:13:26 > 0:13:30the right time. It is all hands on deck. Everyone from head office is
0:13:30 > 0:13:35in the stores to support us.It's pretty stressful for you guys and
0:13:35 > 0:13:39also for the customers.It is, it is stressful for customers so we are
0:13:39 > 0:13:44doing everything we can. Customers have said that they often forget a
0:13:44 > 0:13:49key item on Christmas eve, they go home and they forgotten it.
0:13:49 > 0:13:51Cranberry sauce, Sellotape, batteries for toys. We've got a
0:13:51 > 0:13:56number of things in stores to help. Fiona, on the back of her T-shirt,
0:13:56 > 0:14:02she has a list of the ten most commonly forgotten items.Fiona,
0:14:02 > 0:14:06show us the list... These are the things that people have forgotten.
0:14:06 > 0:14:11Batteries, tinfoil, sticky tape, cranberry sauce, napkins, bread
0:14:11 > 0:14:16sauce, stuffing, Christmas crackers, all sorts of things. Nice to see
0:14:16 > 0:14:23you, Jennifer, thank you. I've got my shopping and AQ saw a huge list
0:14:23 > 0:14:28for you. I'll see you in the New Year, have a great Christmas!
0:14:28 > 0:14:29You're watching Business Live.
0:14:29 > 0:14:32Our top story: Catalan separatist parties have won a majority
0:14:32 > 0:14:33in regional elections, setting the stage
0:14:33 > 0:14:35for more confrontation with Spain's government.
0:14:35 > 0:14:37The vote is a major setback for the Spanish Prime Minister,
0:14:37 > 0:14:43who called this election in response to October's disputed referendum.
0:14:46 > 0:14:51Plenty more on that story. At the moment, we've not really seen
0:14:51 > 0:14:54markets move, although we've seen a little bit of the quotation when it
0:14:54 > 0:15:00comes to the ibex, and the euro is headed slightly lower against the
0:15:00 > 0:15:03dollar -- a bit of degradation.
0:15:03 > 0:15:05And now let's get the inside track on some of the other
0:15:05 > 0:15:07business stories making the headlines this week.
0:15:07 > 0:15:10One that's seen Donald Trump emerge victorious with his huge tax reform
0:15:10 > 0:15:12bill, and we've seen Shell in the headlines over
0:15:12 > 0:15:15its actions in Nigeria.
0:15:15 > 0:15:23To discuss this, we're now joined by our business editor Simon Jack.
0:15:23 > 0:15:28What is the most important story this year?It is hard to beat the
0:15:28 > 0:15:33Donald Trump tax reforms. The implications for the rest of the
0:15:33 > 0:15:38world really profound. The corporation tax cut from 35 and 21%.
0:15:38 > 0:15:44That will increase some of their earnings by 20-30%. It obviously had
0:15:44 > 0:15:50criticisms that it was a tax cut for multinationals. There will be tax
0:15:50 > 0:15:54implications for individuals and middle income families, but those
0:15:54 > 0:16:03tax reforms will be tailored off in 2025, but for the corporation tax,
0:16:03 > 0:16:08it is permanent. If you are going to put rocket fuel in the well's
0:16:08 > 0:16:13biggest economy when it is already growing at 4%, the question is, is
0:16:13 > 0:16:18that putting a bit too much gas in the tank? We use the global
0:16:18 > 0:16:23inflation picked up a little bit. You have seen oil inflation, said
0:16:23 > 0:16:28the risk is that global inflation picks up a little bit. China and the
0:16:28 > 0:16:34eurozone are growing well, the US will have a spurt. Does that mean
0:16:34 > 0:16:38the Federal Reserve has to start raising rates faster than it
0:16:38 > 0:16:42previously did? Will Bonds look vulnerable and stock markets look
0:16:42 > 0:16:46vulnerable? A lot of people are thinking the stock market as it is
0:16:46 > 0:16:54is price point to perfection. Everything has to go right. I have
0:16:54 > 0:16:58seen some people say that sometimes the travelling is better than
0:16:58 > 0:17:05getting there. Maybe use will see a bit of a wobble in the stock market.
0:17:05 > 0:17:08The Donald Trump tax reform is the biggest thing to happen to the
0:17:08 > 0:17:13global economy. The other thing is they will have one-off tax on
0:17:13 > 0:17:17overseas profits for US firms. So the likes of Apple and Google who
0:17:17 > 0:17:23have got hundreds of billions of dollars sitting offshore in places
0:17:23 > 0:17:27like Ireland and Bermuda, they will get tax anyway, so you may as well
0:17:27 > 0:17:33bring the money back and there will be a wall of cash hitting the US.
0:17:33 > 0:17:37The other huge story is being called the biggest corporate bribery trial
0:17:37 > 0:17:40of all time.
0:17:40 > 0:17:43We're talking about the decision by Italian authorities to try Shell
0:17:43 > 0:17:45and Eni over a Nigerian oil deal from 2011.
0:17:45 > 0:17:49What do they stand accused of?
0:17:49 > 0:18:00In 2011 shall and Eni but this giant oilfield in Nigeria for $1.1
0:18:00 > 0:18:07billion. The money ended up in the pocket of a former oil minister, and
0:18:07 > 0:18:12the allegation is he used that money to pay for bribes. Shell and Eni
0:18:12 > 0:18:17always maintained they left it at the door of the Nigerian government.
0:18:17 > 0:18:22The point is they are saying they knew that this money would end up in
0:18:22 > 0:18:28the wrong hands. Usually these cases are settled and this one has not
0:18:28 > 0:18:34been settled. Both Shell and Eni, the current chief executive of the
0:18:34 > 0:18:39oil giant Eni, and the former number two of Shell will go to trial in
0:18:39 > 0:18:43Italy and it is very rare that you see that. That goes to court on
0:18:43 > 0:18:48March the 5th, probably the biggest corporate corruption and prosecution
0:18:48 > 0:18:50in history.
0:18:50 > 0:18:51corporate corruption and prosecution in history.
0:18:51 > 0:18:54The Nigerian people lost out on over $1 billion dollars,
0:18:54 > 0:18:57equivalent to the country's entire health budget.
0:18:57 > 0:19:00When you do business in certain parts of the world there are some
0:19:00 > 0:19:07risks. It is a fact of life sometimes. Corruption is seen as
0:19:07 > 0:19:12pretty stubborn in Nigeria. Anti-corruption campaigners will say
0:19:12 > 0:19:16the real losers in all of this are the people of Nigeria because this
0:19:16 > 0:19:19oil wealth should go into the government coffers and that should
0:19:19 > 0:19:24make its way to public services, it does not, it ends up in people's
0:19:24 > 0:19:28bank accounts and that is the problem.Simon Jack, thank you very
0:19:28 > 0:19:38much and a very Merry Christmas to you.
0:19:38 > 0:19:43For many people in ASEAN about of singing is not seem as bad or good
0:19:43 > 0:19:48on a night out. At least a dozen companies are rolling out karaoke TV
0:19:48 > 0:19:55or karaoke booths in which many locations.
0:19:55 > 0:20:05SINGING.
0:20:10 > 0:20:13Here I am in a Beijing shopping centre and suddenly I feel the need
0:20:14 > 0:20:18to express myself in song.
0:20:18 > 0:20:22Well, it is a good thing that karaoke here has busted
0:20:22 > 0:20:32out of the singing dens and into the mall.
0:20:45 > 0:20:48Like so much else in China you scan and pay with your phone,
0:20:48 > 0:20:53choose a song and you are away.
0:20:53 > 0:21:00# Fly me to the Moon and let me play upon the stars.
0:21:00 > 0:21:08# Let me see what spring is like on...
0:21:13 > 0:21:22Some will see this and think there is no way I am
0:21:22 > 0:21:26going to belt out my favourite song in public for all to see and hear.
0:21:26 > 0:21:28But for plenty of people in China that is not a problem.
0:21:28 > 0:21:31There are already tens of thousands of these booths in place.
0:21:31 > 0:21:33It is projected that within five years there will be
0:21:33 > 0:21:41hundreds of thousands.
0:21:51 > 0:21:55They are very quiet, I think they need to turn up the volume, give it
0:21:55 > 0:22:03some welly, girls! A story we have been seeing tweets about today and
0:22:03 > 0:22:08that is plastic pollution. A suggestion that MPs are saying that
0:22:08 > 0:22:13we should pay a deposit for plastic bottles in an attempt to protect the
0:22:13 > 0:22:19seas. A few other ideas as well. We have been asking for your thoughts.
0:22:19 > 0:22:23Dan Martin said the plastic carrier bag tax has made a difference, so
0:22:23 > 0:22:28why not bottles? Maybe a cashback for proper recycling would offset
0:22:28 > 0:22:34and help.Some saying charge a deposit on glass bottles and viewers
0:22:34 > 0:22:38in the UK will remember we used to have glass bottles and you would
0:22:38 > 0:22:45bring them back to the supermarket and get some money back. A lot of
0:22:45 > 0:22:49people calling for that. What do you think about this? Do you use a
0:22:49 > 0:22:53plastic bottles?Yes, I do. It would be great if they had public water
0:22:53 > 0:22:59fountains to fill bottles up. And there is the influence of the Blue
0:22:59 > 0:23:05Planet.The big nature documentary running on the BBC which carried
0:23:05 > 0:23:10strong visual footage of the plastic waste in the sea.It shows you the
0:23:10 > 0:23:14power of that image and what plastic does once you finish with it. A
0:23:14 > 0:23:19great story encouraging people to recycle and be responsible.And
0:23:19 > 0:23:23proposing a sliding scale on taxes for plastic packaging, the idea is
0:23:23 > 0:23:30to make the producers of the plastic paid. One thing we should say, and a
0:23:30 > 0:23:34hi-fi to BBC News, that some firms are highly could sensitive to
0:23:34 > 0:23:42pressure on the issue. And one company is saying it will change its
0:23:42 > 0:23:53policy on plastic, so well done to BBC News. There is a story in the
0:23:53 > 0:23:58Financial Times. It looks like a company that makes iced tea have
0:23:58 > 0:24:03decided to change their name and they are going to start looking at
0:24:03 > 0:24:06the benefits of block chain technology. That is a shift in
0:24:06 > 0:24:13focus.It is one of the biggest pivots in businesses I have seen.
0:24:13 > 0:24:15Small companies in China that used to make things like furniture are
0:24:15 > 0:24:21now investigating artificial intelligence and their stocks have
0:24:21 > 0:24:25soared. It takes us back to the era of the dot-com bubble and you add a
0:24:25 > 0:24:30word to your name and the price goes up. It shows the craziness
0:24:30 > 0:24:39surrounding bitcoin. Block chain is behind bitcoin.I was thinking as we
0:24:39 > 0:24:44were chatting whether our viewing figures would go up if we had a
0:24:44 > 0:24:52little bitcoin Medallion, with your bitcoin password numbers. Let's see
0:24:52 > 0:24:56if the costume and make-up department can help us out. Another
0:24:56 > 0:24:59story that is extraordinary for this time of the year. It has been
0:24:59 > 0:25:05described by the New York Times as cute. I think it looks terrifying.
0:25:05 > 0:25:09It is a doll with waist length gold in here that talks and responds to
0:25:09 > 0:25:16children's' questions and it could pose a bit of a threat. Hackers and
0:25:16 > 0:25:21identity thieves are looking at this.Anything with a microphone and
0:25:21 > 0:25:26a camera can be hacked. It relates to things like personal assistance
0:25:26 > 0:25:31as well with microphones and cameras. If they can be hacked, you
0:25:31 > 0:25:36can listen in and spy on people and they are security concern. Your
0:25:36 > 0:25:39kitchen is connected, your fridge is connected and though security
0:25:39 > 0:25:44concerns will increase.More and more people are buying these toys
0:25:44 > 0:25:48that are progressing, especially in the run-up to Christmas. You would
0:25:48 > 0:25:53assume it is properly regulated. Thank you very much for joining us
0:25:53 > 0:25:59and happy Christmas. That is it from today. Plenty more business news
0:25:59 > 0:26:03throughout the day and on the live page.