0:00:03 > 0:00:07This is Business Live from BBC News, with Ben Thompson and Sally Bundock.
0:00:07 > 0:00:10France's Emmanuel Macron arrives in China, but can he forge stronger
0:00:10 > 0:00:15ties between the EU and the world's second biggest economy?
0:00:15 > 0:00:19Live from London, that's our top story on Monday the 8th of January.
0:00:34 > 0:00:36The trade relationship between France and China
0:00:36 > 0:00:39currently favours China - so the French are hoping to close
0:00:39 > 0:00:46the gap with exports of beef, wine and cheese.
0:00:46 > 0:00:48Also in the programme...
0:00:48 > 0:00:51Will Tesla take the back seat in the electric car market?
0:00:51 > 0:00:54We get an exclusive look at a new design by former
0:00:54 > 0:00:57BMW and Apple staff.
0:00:57 > 0:01:00A new week for the markets - and after last week's highs,
0:01:00 > 0:01:03all eyes on whether the rise can continue.
0:01:04 > 0:01:07And if you've had enough of your spouse after the holiday
0:01:07 > 0:01:08period, you're not alone!
0:01:08 > 0:01:11Today has been dubbed 'Divorce Day' because of the number of couples
0:01:11 > 0:01:13looking to end their marriages.
0:01:13 > 0:01:21One app is helping them do it in the most amicable way possible.
0:01:21 > 0:01:23We will speak to one of its founders.
0:01:23 > 0:01:25A new report says we're still spending on booze,
0:01:25 > 0:01:28cars and stuff for our houses as we rein in shopping
0:01:28 > 0:01:29on other items.
0:01:29 > 0:01:32So, today we want to know - what are you still spending on?
0:01:32 > 0:01:35Are you cutting back this year?
0:01:35 > 0:01:38Just use the hashtag #BBCBizLive.
0:01:47 > 0:01:54Hello, and welcome to Business Live.
0:01:54 > 0:01:59So much for dry January... We are still spending on booze. Let us know
0:01:59 > 0:02:08what you are still spending on too. Use the hashtag BBC Bisla life. --
0:02:08 > 0:02:09biz live.
0:02:09 > 0:02:11The French President, Emmanuel Macron, has arrived
0:02:11 > 0:02:14on a state visit to China focusing on improving economic ties.
0:02:14 > 0:02:18The two countries are important partners for each other.
0:02:18 > 0:02:21In 2016, trade between the two was worth more than $68 billion,
0:02:21 > 0:02:24and it's growing all the time. But it's massively skewed
0:02:24 > 0:02:27in China's favour.
0:02:27 > 0:02:31They have a $33 billion surplus with France.
0:02:31 > 0:02:34So President Macron is likely to seek better access for exports
0:02:34 > 0:02:36for exports of beef and wine, as well as access to
0:02:36 > 0:02:37financial markets.
0:02:37 > 0:02:40For China, better ties with France offer more opportunities to export
0:02:40 > 0:02:45goods to the entire European Union.
0:02:45 > 0:02:48In 2016, those exports were worth nearly $416 billion.
0:02:48 > 0:02:51And, as both sides build on that trade, they're expected to announce
0:02:51 > 0:02:57a Franco-Chinese investment fund worth around $1.2 billion.
0:03:06 > 0:03:09Professor Steve Tsang, Director of SOAS China Institute, is with me.
0:03:09 > 0:03:13You were listening to what Ben had to say. What are your expectations
0:03:13 > 0:03:21for this visit?Neither government can afford it to be otherwise. The
0:03:21 > 0:03:25Chinese see France more as a diplomatic partner than as a
0:03:25 > 0:03:30business partner. The most important business partner for China in the EU
0:03:30 > 0:03:34is Germany, and that's not going to change. Some of the big business
0:03:34 > 0:03:40deals will materialise. And it is happening at a time when the UK is
0:03:40 > 0:03:43becoming less important, and the Chinese are concerned about
0:03:43 > 0:03:48potential change in relationships with the US administration.You
0:03:48 > 0:03:52mention the fact that Germany is the most important trading partner for
0:03:52 > 0:03:55China, but at the moment they are involved in their own domestic
0:03:55 > 0:03:58political affairs and not having a government in place is pretty
0:03:58 > 0:04:03critical. I would imagine Emmanuel Macron is going to China with the
0:04:03 > 0:04:06message, I'm the person to talk to about Europe. With the UK leaving
0:04:06 > 0:04:09and Germany not able to discuss issues right now in terms of trade.
0:04:09 > 0:04:15I think you're absolutely right. That is the message President and
0:04:15 > 0:04:20will be projecting in China. And it has a certain currency in China, but
0:04:20 > 0:04:25I think the Chinese will be looking at the longer term relationship and
0:04:25 > 0:04:29potentially that Germany will return.You mentioned that business
0:04:29 > 0:04:33deals are likely to be announced. Airbus is likely to be a winner, for
0:04:33 > 0:04:38example, one company that could do well here. What about the issue of
0:04:38 > 0:04:41market access, which France really wants to try and grapple with? Will
0:04:41 > 0:04:46they see any progress in that area, for example?That is going to be a
0:04:46 > 0:04:53difficult issue for the Chinese. What you are really saying is that
0:04:53 > 0:04:56President will ask for reciprocity in terms of marks of access. --
0:04:56 > 0:05:02market access. The Chinese has not granted reciprocity to its
0:05:02 > 0:05:07international partners in general terms. So making that as a special
0:05:07 > 0:05:11concession to France is problematic because if France gets it, the Trump
0:05:11 > 0:05:15administration will insist on it, and I don't think Xi Jinping is
0:05:15 > 0:05:19prepared for that yet.Thank you so much for your time. Interesting
0:05:19 > 0:05:26conversation. We will keep on how Emmanuel Macron gets on in China.
0:05:26 > 0:05:29Let's take a look at some of the other stories making the news...
0:05:29 > 0:05:32The Japanese firm Takata has had to recall a further 3.3 million cars
0:05:32 > 0:05:33over faulty airbags.
0:05:33 > 0:05:36The company was forced to file for bankruptcy back in June.
0:05:36 > 0:05:42The scandal is already the biggest recall in automotive history.
0:05:42 > 0:05:45A senior BBC journalist has stepped down from her role accusing
0:05:45 > 0:05:49the broadcaster of having a "secretive and
0:05:49 > 0:05:55illegal" pay culture.
0:05:55 > 0:05:57Carrie Gracie is leaving her job as China Editor, citing
0:05:57 > 0:06:00what she called an "indefensible" pay gap with male colleagues.
0:06:00 > 0:06:03She made the announcement in an open letter, in which she said
0:06:03 > 0:06:06that the BBC was breaking British equality law.
0:06:06 > 0:06:10The accountancy firm KPMG has quit its advisor role
0:06:10 > 0:06:14on the Grenfell inquiry.
0:06:14 > 0:06:16Campaigners had called its appointment to be reversed,
0:06:16 > 0:06:19saying the firm had failed to disclose a conflict of interest.
0:06:19 > 0:06:22KPMG is the auditor of three firms under scrutiny
0:06:22 > 0:06:27by the inquiry into the blaze which killed 71 people last year.
0:06:29 > 0:06:39Last week, the Chinese government announced that it's introducing
0:06:39 > 0:06:42a ten-year visa scheme to attract highly-skilled talent
0:06:42 > 0:06:46from across the globe.
0:06:46 > 0:06:53China has now named the first high-end executive
0:06:53 > 0:06:56to receive the Certificate for Foreign High-End Talent
0:06:56 > 0:07:00as Microsoft executive Saju George. Leisha Santorelli is following
0:07:00 > 0:07:04the story from our Asia Business hub in Singapore.
0:07:04 > 0:07:08Usually it is difficult to get a visa for China, but this is a
0:07:08 > 0:07:1110-year multiple entries up till it is notoriously difficult to get TVs
0:07:11 > 0:07:18for China and currentlyforeigners have renewed their visa what ever --
0:07:18 > 0:07:23every one or two years. If you are a top athlete or a Nobel Prize winner,
0:07:23 > 0:07:27you are in luck, you can get a special visa for high-end
0:07:27 > 0:07:30foreigners. The Chinese government is looking to attract top tier
0:07:30 > 0:07:36talent in the area of science and technology and sport, but they are
0:07:36 > 0:07:40also earning six times China's annual wage, which in Beijing was
0:07:40 > 0:07:45around 14,000 US dollars per year. The winner of the lucky golden
0:07:45 > 0:07:50ticket of the first 10-year multiple entry visa is Microsoft's human
0:07:50 > 0:07:53resources director, but I think they will see quite a few more coming
0:07:53 > 0:08:00after him as well.Thank you. Sadly I don't think we qualify as highly
0:08:00 > 0:08:07skilled by that definition! Nonetheless, thank you.
0:08:07 > 0:08:11Is this the week when some reality finally sets into the markets?
0:08:11 > 0:08:14There's quite a lot for them to digester, it's been quiet over the
0:08:14 > 0:08:18holiday period. We have the highs last week boosted by the strong jobs
0:08:18 > 0:08:26data in the US. Markets still riding on the tax cut in the US. We will
0:08:26 > 0:08:30get earnings and inflation data released in the US next week, and an
0:08:30 > 0:08:33indication about what the retailers and how they fared over the
0:08:33 > 0:08:36Christmas period. In durable, the FTSE 100 having a record-breaking
0:08:36 > 0:08:41first week of trading for 2018 -- in Europe. What we are seeing an
0:08:41 > 0:08:45markets is the strength in Asia when markets were not overly worried by
0:08:45 > 0:08:48reports of a potential rise in interest rates in China. We will
0:08:48 > 0:08:54also get an update on German factory orders, Eurozone business and
0:08:54 > 0:09:00consumer confidence later as well as retail sales figures after the
0:09:00 > 0:09:03crucial Christmas period. We will talk about those in a moment.
0:09:03 > 0:09:05And Yogita Limaye has the details about what's ahead
0:09:05 > 0:09:12on Wall Street today.
0:09:12 > 0:09:14This week, investors will get a lot of consumer-related
0:09:14 > 0:09:17data here in the US.
0:09:17 > 0:09:19Today, the Federal Reserve will release numbers for how much
0:09:19 > 0:09:21outstanding credit has been extended to American people.
0:09:21 > 0:09:25It's expected to have increased to nearly £21 billion in the month
0:09:25 > 0:09:27of November, which suggests that either people have taken more debt
0:09:27 > 0:09:31on or they're repaying it slower.
0:09:31 > 0:09:35Now, debt is a double-edged sword for the American economy.
0:09:35 > 0:09:39While it means people are spending, which is good, too much of it
0:09:39 > 0:09:42presents a risk of bad loans.
0:09:42 > 0:09:45And later in the week we will find
0:09:45 > 0:09:48out whether or not people are buying more, when the retail sales
0:09:48 > 0:09:50numbers are released.
0:09:50 > 0:09:53We will also have the Consumer Price Index, a key measure of inflation
0:09:53 > 0:09:54watched by the Federal Reserve.
0:09:54 > 0:09:58In corporate news, big banks like JP Morgan Chase and Wells Fargo will be
0:09:58 > 0:09:59releasing earnings on Friday.
0:09:59 > 0:10:01It is quite busy in terms of earnings, in Asia they are gearing
0:10:01 > 0:10:05up for a lot of earnings coming out this week.
0:10:05 > 0:10:08Joining us is Jeremy Cook from World First.
0:10:08 > 0:10:13A new trading week is starting robustly.Everything is kicking on,
0:10:13 > 0:10:17we have started 2018, the start of a new narrative, maybe, but a lot of
0:10:17 > 0:10:21the narrative has carried on from 2017, the second half of 2017, which
0:10:21 > 0:10:25was a Federal Reserve still looking to raise interest rates a couple or
0:10:25 > 0:10:29three or maybe four times this year. The growth is starting to lift
0:10:29 > 0:10:34around the world. Moderate prices running high. So nothing's really
0:10:34 > 0:10:38set to knock that. -- commodity prices. There is a lot of political
0:10:38 > 0:10:42news coming up over the course of the next couple of weeks, you know,
0:10:42 > 0:10:46the leadership in Germany getting together and hopefully will get a
0:10:46 > 0:10:50government after the reshuffle in Downing Street in the next 24 hours.
0:10:50 > 0:10:55That could change things but at the moment everything looks robust.We
0:10:55 > 0:10:58are going to get some results right around the world, but particularly
0:10:58 > 0:11:03in Europe and the UK we will get a lot of updates on how they fare. It
0:11:03 > 0:11:07is familiar terms of winners and losers.Yes, did Christmas come.
0:11:07 > 0:11:12People on the High Street? Certainly in the developed world, retail
0:11:12 > 0:11:16consumption drives GDP, not manufacturing or tourism all raw
0:11:16 > 0:11:21materials, it is what we go out and spend money on. Whether it is in the
0:11:21 > 0:11:24supermarkets in the UK or the department stores in the US, we will
0:11:24 > 0:11:30find out.What do you still spend your money on?A wedding, at the
0:11:30 > 0:11:35moment!This is it! The week before Harry and Meghan, Jeremy will be
0:11:35 > 0:11:40going down the aisle in London! That's where all the money is going!
0:11:40 > 0:11:43That's where all of the money is going, I'm spending my money on
0:11:43 > 0:11:50photographers and flowers and things.Is it you spending it or
0:11:50 > 0:11:57what your future wife?They have a corporate budget, of course!It's
0:11:57 > 0:12:03divorce day-to-day as well!There's no link to this at all!He's not
0:12:03 > 0:12:05even married yet!
0:12:05 > 0:12:07Still to come...
0:12:07 > 0:12:10January 8th is being called
0:12:10 > 0:12:12'Divorce Day' by lawyers, because of the surge
0:12:12 > 0:12:14of requests from couples considering ending their marriages
0:12:14 > 0:12:16after the holidays - but technology is helping
0:12:16 > 0:12:18to reduce the discord.
0:12:18 > 0:12:20We'll find out how.
0:12:20 > 0:12:24You're with Business Live from BBC News.
0:12:39 > 0:12:43Before we grapple with that rather difficult issue, let's talk about
0:12:43 > 0:12:45British manufacturers.
0:12:45 > 0:12:49Britain's manufacturers are optimistic about the year ahead,
0:12:49 > 0:12:52and say a growing global economy will boost orders and growth.
0:12:52 > 0:12:53That's
0:12:53 > 0:12:55according to a survey published today by the manufacturing
0:12:55 > 0:12:56manufacturing group the EEF.
0:12:56 > 0:12:58It's Chief Economist is Lee Hopley, she joins us now.
0:12:58 > 0:13:02It is rare we can talk about such optimism at the start of the New
0:13:02 > 0:13:08Year. Many people use the famous phrase, cautious, or nervous. But
0:13:08 > 0:13:11manufacturers are optimistic?That's right, that's a different story to
0:13:11 > 0:13:15the one we were looking at going into 2017. But actually growth,
0:13:15 > 0:13:19particularly in the second half of last year, was pretty good. It feels
0:13:19 > 0:13:22like there is enough momentum to carry the sector through this year.
0:13:22 > 0:13:26I think a lot of the positive sentiment has been driven by what's
0:13:26 > 0:13:33happening in the rest of the world. Companies in Berdych reporting much
0:13:33 > 0:13:35more confidence about the global outlook than they were 12 months
0:13:35 > 0:13:38ago. A bit less so about their expectations for the UK economy, not
0:13:38 > 0:13:42surprisingly.I wanted to ask about that. I don't want to be pessimistic
0:13:42 > 0:13:45or anything, but there are a lot of things that could change, good and
0:13:45 > 0:13:49bad depending on which side of the fence you sit on, but it is
0:13:49 > 0:13:52uncertainty, as we have always discussed, that causes nervousness
0:13:52 > 0:13:56for business.That's absolutely right, and you are right to point to
0:13:56 > 0:14:06some of the caution out there. Indeed, our survey shows that more
0:14:06 > 0:14:08companies the risks ahead rather than opportunities for their
0:14:08 > 0:14:10business this year. And inevitably some of those are related to what's
0:14:10 > 0:14:13happening on the political agenda. Brexit related risks are right up
0:14:13 > 0:14:16there. Particularly in relation to some of the practical impacts from
0:14:16 > 0:14:20Brexit. Exchange rate for the Tylicki, risks for major customers
0:14:20 > 0:14:25relocating and clearly loss of skills EU workers featured quite
0:14:25 > 0:14:31strongly.Thanks for explaining that. If you are planning to travel
0:14:31 > 0:14:35by train or maybe you are trying right now and you have got stuck,
0:14:35 > 0:14:39but as having a very tough time. Five train companies on strike
0:14:39 > 0:14:42today, Wednesday and Friday. They are more than most rail,
0:14:42 > 0:14:47south-western, Greater Anglia and southern today as well. We have got
0:14:47 > 0:14:52details on the BBC live page. Real union boss might cash saying
0:14:52 > 0:14:56strikers at five train companies are solidly supporting the action, big
0:14:56 > 0:15:01lines were mounted this morning. And the members have walked out on those
0:15:01 > 0:15:04various rail services that I've already mentioned. Details on our
0:15:04 > 0:15:13website.
0:15:13 > 0:15:17You're watching Business Live.
0:15:17 > 0:15:22Our top story - France's Emmanuel Macron arrives in China hoping
0:15:22 > 0:15:31to forge stronger ties with the world's second biggest economy.
0:15:32 > 0:15:35Parting is such sweet sorrow, at least if Shakespeare
0:15:36 > 0:15:37is to be believed.
0:15:37 > 0:15:39But don't take his word for it.
0:15:39 > 0:15:41Yes, there were almost 107,000 divorces in England
0:15:41 > 0:15:43and Wales in 2016.
0:15:43 > 0:15:46And according to the Office for National Statistics,
0:15:46 > 0:15:54this accounts for 43% of all marriages.
0:15:54 > 0:15:55The separation process can be pretty unpleasant emotionally,
0:15:55 > 0:15:57but also economically.
0:15:57 > 0:16:00So Amicable was created following the founder's
0:16:00 > 0:16:03own traumatic and expensive divorce to help others avoid
0:16:03 > 0:16:05the pitfalls of ending a marriage without a lawyer.
0:16:05 > 0:16:11We're joined by Kate Daly, the co-founder of Amicable.
0:16:11 > 0:16:15Welcome, Kate to the programme. Thank you for coming on. So you
0:16:15 > 0:16:19started this company with one other and your area of expertise is
0:16:19 > 0:16:23psychology.That's right.The other founder is technical. So, neither of
0:16:23 > 0:16:29you are lawyers?No, we're not. I've worked in the legal field for quite
0:16:29 > 0:16:35a while as a family consultant. I work with some of the country's
0:16:35 > 0:16:39leading labtive lawyers and as a consequence of my own really
0:16:39 > 0:16:42traumatic and awful divorce and the experience of working with them and
0:16:42 > 0:16:48seeing how it could be done, really very well, we set-up up Amicable,
0:16:48 > 0:16:51but the trouble with the collaborative process was it was
0:16:51 > 0:16:55just too expensive for very many people. So, one of the founding
0:16:55 > 0:17:04principles of Amicable is affordability and access to justice
0:17:04 > 0:17:10because since the regulation, since Legal Aid was abolished for family
0:17:10 > 0:17:14cases, for divorcing unless there is a domestic violence issue. So since
0:17:14 > 0:17:19that has happened it has been very difficult for people to get good
0:17:19 > 0:17:22advice in an affordable manner so that's, you know, what Amicable set
0:17:22 > 0:17:26out to do.You talked about your own experience. I want z won't ask you
0:17:26 > 0:17:30to relive too much of it, but what are the things that really stood out
0:17:30 > 0:17:33for you as being real sticking points or difficulties in that
0:17:33 > 0:17:38process?The biggest difficulty is that the system dictates that if you
0:17:38 > 0:17:44use a lawyer each person has to have their own lawyer and a lawyer did
0:17:44 > 0:17:48duty-bound to put your interests first. It sets up a win listen lose
0:17:48 > 0:17:52situation. If your lawyer does well for you, it means your partner has
0:17:52 > 0:17:56got less somehow or is doing less well and at Amicable we take a
0:17:56 > 0:17:59fundamentally different approach because we're not set up as a law
0:17:59 > 0:18:05firm. We're set up as a legal services firm and that allows us to
0:18:05 > 0:18:09work with both partners together to help them come toen a agreement in
0:18:09 > 0:18:12an amicable way and if they have got children to prioritise their
0:18:12 > 0:18:18children and put the needs of the family and the children first. We do
0:18:18 > 0:18:23that by helping them set goals about what the future may look like and
0:18:23 > 0:18:28saying if you have got these goals and these resource, how can we split
0:18:28 > 0:18:31the resource it achieve these goals and that's fundamentally different
0:18:31 > 0:18:35to the traditional way of doing it which is well, you're entitled to
0:18:35 > 0:18:39this and you're entight told that. You are look to go reduce your fees
0:18:39 > 0:18:43even more to make yourself more accessible to those who can't afford
0:18:43 > 0:18:46good advice as you've already mentioned, but how will you be able
0:18:46 > 0:18:51to do that and sort of stay profitable as a company?So that's
0:18:51 > 0:18:57where the technology comes in. So my co-founder Pip Wilson is technology
0:18:57 > 0:19:01entrepreneur and it's looking at how technology can take the strain and
0:19:01 > 0:19:05can take away some of the administrative burden that
0:19:05 > 0:19:09traditionally lawyers or other people have done so we're not
0:19:09 > 0:19:12looking to polarize the debate. We are not looking to say that
0:19:12 > 0:19:16technology is a panacea that's going to solve all of these problems, it
0:19:16 > 0:19:21really is the combination of people and technology working together
0:19:21 > 0:19:25that's going to make the difference and make this scaleable and
0:19:25 > 0:19:29profitable and reduce the cost. What's the response been from
0:19:29 > 0:19:34traditional lawyers? Because you're a disrupter, you're coming in their
0:19:34 > 0:19:41industry and shaking up how they do it. It strikes me like estate agents
0:19:41 > 0:19:44and conveysancing, the system is set up to favour lawyers?I think we've
0:19:44 > 0:19:49had a mixed response. There are some very enlightened lawyers, we've had
0:19:49 > 0:19:53talks with the Law Society and the solicitors regulator authority and
0:19:53 > 0:19:56they have been warm and receptive because everybody recognises that
0:19:56 > 0:20:03the current system is pretty broken. It costs this country £48 billion a
0:20:03 > 0:20:08year in divorce bills. And that's the combined cost of the mental
0:20:08 > 0:20:12illness and things that happen after a traumatic experience. It is the
0:20:12 > 0:20:15additional benefits, it is the cost to the Prison Service and the
0:20:15 > 0:20:18additional cost to schools so there is a gam it of costs and I think
0:20:18 > 0:20:23everybody recognises that we need to do more to help people do this in a
0:20:23 > 0:20:25more kind and humane way and that's really what we're talking about
0:20:25 > 0:20:32here.OK, Kate, thank you very much. Really interesting. Best of luck
0:20:32 > 0:20:35with it.Thank you.
0:20:36 > 0:20:44A new car designed by former BMW and Apple employees has been
0:20:44 > 0:20:46unveiled ahead of the Consumer Electronics Show in Las Vegas.
0:20:46 > 0:20:51Called the Byton, it sports a huge touch-screen dashboard,
0:20:51 > 0:21:01as Dave Lee reports.
0:21:08 > 0:21:11What we want to do is try to merge your life
0:21:11 > 0:21:13outside the car with your experience in the car.
0:21:13 > 0:21:15Everything will be controlled via touch and then certain aspects
0:21:15 > 0:21:18will be controlled via voice and also very novel to us
0:21:18 > 0:21:19is gesture control.
0:21:19 > 0:21:22Some of the most exciting features of the Byton car are going to be
0:21:22 > 0:21:26disabled until we live in a world of fully autonomous driving.
0:21:26 > 0:21:28So perhaps think of this vehicle as bridging the gap
0:21:28 > 0:21:31between our dumb driving past and our smart driving future.
0:21:57 > 0:21:59We have to come together and share this infrastructure
0:21:59 > 0:22:01across the companies because this is not a differentiating factor,
0:22:01 > 0:22:10this is something which makes the whole industry successful.
0:22:31 > 0:22:33I like the music on that.
0:22:33 > 0:22:38Jeremy Cook is back.
0:22:38 > 0:22:45A tweet from Elon Musk says, "Gunner put on an old school driving and
0:22:45 > 0:22:50roller skates and rock restaurant at one of the new super charger
0:22:50 > 0:22:57location in LA."Only one. Why can't they been everywhere.Have you been
0:22:57 > 0:23:02to a drive-in?No.I've been to one in South Africa. They do them in
0:23:02 > 0:23:10South Africa which is where he's from. Let's say with our
0:23:10 > 0:23:16marriage-divorce theme. There is a really interesting yarn in the
0:23:16 > 0:23:20Business Insider about Harry and Meghan's wedding. One of the issue
0:23:20 > 0:23:24of weddings is the list as you know, who do you not invite?The headline
0:23:24 > 0:23:29is that Trump may deny the UK a Brexit deal if he is snubbed from
0:23:29 > 0:23:34Prince Harry's wedding, the nuptials on 19th May. Prince Harry is more
0:23:34 > 0:23:39close with the Obamas given the... Their support for the Invictus
0:23:39 > 0:23:44Games.But Donald Trump has always looked at a state visit to the UK as
0:23:44 > 0:23:51something which he really, really wants and whether that coincides
0:23:51 > 0:23:55with Meghan and Harry's nuptials. He's not coming to ours because
0:23:55 > 0:24:00we're not having kids! He may still be turning up at Windsor Castle.The
0:24:00 > 0:24:04Obamas could be there and Trump perhaps not there, but because the
0:24:04 > 0:24:07Obamas have the connection with the Games and everything which is a
0:24:07 > 0:24:11legit reason for inviting them.This is not, the thing about the royal
0:24:11 > 0:24:14wedding, it is not a full state occasion. You know, Prince Harry is
0:24:14 > 0:24:21only fifth or sixth in line, he is closer line, this is not in
0:24:21 > 0:24:26Westminster Abbey, he is going to get a state visit himself.We asked
0:24:26 > 0:24:30you what you're spending your money on. This is in the Washington Post,
0:24:30 > 0:24:33liquor, home, hobbies and cars. So, we are still spending, it seems.
0:24:33 > 0:24:39Yes.But a lot of things falling by the way side?A lot of squeeze on
0:24:39 > 0:24:44incomes. Inflation here in the UK, about 3%, real wages, still
0:24:44 > 0:24:47negative, the post Brexit kind of chronic crawl that we are seeing and
0:24:47 > 0:24:52it is interesting to see how we are now, not also what we are spending
0:24:52 > 0:24:57our money, but how we are spending, whether we are did it on the high
0:24:57 > 0:25:01street, Amazon and that kind of thing. A lot of people are getting
0:25:01 > 0:25:06more experienced buying.A lot of tweets still spending on holidays,
0:25:06 > 0:25:11but cutting back on clothing and fashion items is one point.
0:25:11 > 0:25:17Languages and culture, holidays in the in sun.One says, "No money to
0:25:17 > 0:25:23spend at all." That's Darling. People will be more willing to save
0:25:23 > 0:25:27and go for quality than go for the disposable fashions which is going
0:25:27 > 0:25:31to stack them high and sell them cheap and throw them away when they
0:25:31 > 0:25:38fall apart.We will see how the retailers fair. Thanks Jeremy for
0:25:38 > 0:25:44coming in. Nice to see you.Having discussed Jeremy not so much wedding
0:25:44 > 0:25:51and possible divorce!Ben, we didn't say that.We just said a divorce.
0:25:51 > 0:25:55The pessimist to the optimist.We will see you tomorrow. Are you here
0:25:55 > 0:26:04tomorrow?I am.So am I. We'll see you tomorrow. Take care. Bye-bye.