A look at the global business stories.
Browse content similar to 09/01/2018. Check below for episodes and series from the same categories and more!
on Tuesday the ninth of January.
Brian Krzanich reassures customers
there's no evidence
the chip issues have been exploited
as the world waits
for the problem to be resolved,
but how did his speech go down
at CES in Las Vegas?
We'll be getting an expert view.
Also in the programme -
Apple could be facing
legal action in France,
the iPhone's under the microscope
there over intentionally shortening
the life span of smartphones.
And the European trading day
has just got under way -
in London, better than expected news
bodes well for retailers.
We'll tell you all you need to know.
Catching the copycats - we meet
the woman behind a service that
lets small firms track down and stop
others stealing their ideas,
without using expensive lawyers.
And with all that new tech
and latest gadgets on show
at this year's CES, we want to know,
what would you like
technology to do for you?
What gadget would change your life?
Let us know, #BBCBizLive.
Hello and welcome to Business Live.
One that can make me a really
well-made cup of tea and look after
my children simultaneously, that
would be perfect!
The boss of Intel has
made his first major public
appearance since the security
scandal that has potentially left
millions - possibly billions -
of machines vulnerable.
Called Meltdown and Spectre,
they could allow
hackers to steal sensitive data,
including passwords and
The UK security services say
the chip vulnerabilities
have not been exploited
and structurally there is nothing
wrong with the hardware.
It's like having doors
and windows in a house
- that need to be there -
but that burglars
are able to exploit.
Adding to Intel's image
challenges, the company's
chief executive, Brian Krzanich,
sold about $24 million
in Intel shares in late November,
after the company learned
of the chip security problems,
reducing his holdings by about 50%.
Intel released a statement
insisting there was no impropriety,
saying the sale was "unrelated",
rather a pre-arranged
stock sale plan, and that he
"continues to hold shares in line
with corporate guidelines."
At the Consumer Electronics
Show in Las Vegas,
Intel's chief executive said
there was no evidence
that customer data had
been put at risk.
To make sure your data remains safe,
apply any updates
from your operating system vendor
and system manufacturer
as soon as they become available.
For our processors and products
introduced in the past five years,
Intel expects to issue updates
for more than 90% of them
within a week, and the aiming
by the end of January.
Claudio Stahnke is a security
research analyst at Canalys.
How worried are people by this?
Nice to see you, Claudio. I wonder
if you can explain how significant
this is, because we have heard from
both sides, but it seems to be a big
Yes, definitely, and not
affecting only Intel, every
microprocessor manufacturer has used
the same architecture with the same
exploit that now have been released
to the public. And now everyone is
trying to patch this problem.
are lawsuits, three class-action
lawsuits that have been brought in
the United States, alleging two key
things. I wonder if you can run me
through those, they could prove
costly for Intel.
So basically the
main problem is the slowdown in
performance, because obviously in
order to fix the security flaw,
performances will probably be
impacted, although for the everyday
user, this impact will not be so
noticeable. It will be more
noticeable for cloud providers, as
they've built by the second - if
their processors now need 60 seconds
to perform a task and tomorrow they
will need 61, you can see how
everything will be more costly.
mainly high-end users will feel the
impacts of this. There is also
criticism that it took so long for
Intel to basically admit to this
problem, why did it take them so
Well, this is common practice
when you find and exploit, before
releasing it to the public, you
patch it, you worked in the
background in order to fix the
problem before releasing it, because
otherwise bad actors might decide to
exploit the problem.
say Intel found out in the summer
and only told use of this week, does
it really take this long?
It is a
problem that has been there for 20
years, and they just found out six
months ago, so I assume that it was
a huge problem to face, so six
months could seem realistic,
considering also the fact that they
had to work with a lot of partners,
starting with Microsoft and other
story, thank you for now, Claudio
Thank you, Ben.
Let's take a look
at some of the other
stories making the news.
French prosecutors have launched
an investigation into Apple
over allegations that it slows down
older iPhone models.
Under French law, it is a crime
to intentionally shorten
the lifespan of a product
with the aim of making
customers replace it.
In December, Apple admitted
that its software
slowed older iPhones to cope
with weaker battery performance.
The camera-maker GoPro
is reportedly considering
putting the company up for sale -
after disappointing results.
The firm had earlier said revenue
fell almost 40% in the last three
months compared to the same
period last year.
It has also announced redundancies
and an end to its drone business.
Google has been accused
against conservative white men
in a class action lawsuit.
It's been launched by
two former engineers.
One of them was fired last year over
a controversial memo which argued
there are fewer women in top jobs
at the firm because of biological
differences between men and women.
appears to be going from
strength to strength,
despite its boss being behind bars.
The South Korean tech firm
released its earnings guidance
this morning, and it's a bit
of a mixed picture.
They are making record profits but
not as good as some people were
Leisha Santorelli is in our
Asia business hub in Singapore.
Well, Sally, I will start with the
numbers, Samsung forecast profit for
the final three months of last year
will jump by 64% from one year
earlier to about $14 billion. Now,
this would mark the third straight
quarter they have posted record high
operating profits, so that is really
strong. Most people think these
numbers are due to the sale of
Galaxy smartphones, but they are
mostly due to the sale of the chips
inside the smartphones, as well as
other intelligence devices. Samsung
with the world's biggest
semiconductor manufacturer, and so
while the numbers are good, we're
actually seeing some mixed reaction
because Kjaersfeldt over concerns
that the prices of memory chips will
Thank you very much indeed.
That pesky strong currency syndrome
eating into Samsung profits to some
degree, a story that many companies
around the world know well. Let's
look at the markets around the
world, this is Wall Street the night
before, every day this year the S&P
500 has closed at a record high,
when will that end. It hardly move,
but it is going up and up and up.
Australia, Hong Kong, Japan, closing
up. Japan opened today for the first
time this week. SoftBank pushing up
Japan. We have a weaker yen helping
Japanese stocks. But China, again,
aids day rally in China, that didn't
end either, it seems to be heading
in one direction. -- eight day
rally. Morrisons shares up in
London, we are trying to move these
on for you to see the European
boards, they are over Ben's
shoulder! Morrisons had really
healthy sales over Christmas, better
than expected, good news for
retailers, the feeling about
retailers, a real focus on how they
are doing. I will hand you to Ben,
he has got the numbers and not me!
I stole the board, look! George
Godber is here to talk about the
European markets, nice to see you.
The reshuffle is well under way in
the UK, Cabinet reshuffle, the Prime
Minister, Theresa May, having some
difficulty getting a new Cabinet
together, what affect on the market?
You have just alluded to the strong
start that world markets have had
this year, and a noticeable lag and
would be the UK market. The Merrill
Lynch data is very clear, UK asset
allocations are at a 40 year low,
partly because of Brexit and the
concerns around that, but in
addition to that the political
uncertainty, and the worries
investors have over corporate
governance and what that might mean
for the UK economy and market, and
that hands over the Cabinet
If I could just chip in,
you have got that going on, and yet
in Europe the figures are so strong,
the manufacturing data out of
Europe, just in Spain their
economies growing 3.1% year on year
in 2017, the Spanish economy! I
mean, in terms of people looking
around the world, where to put their
money, the UK as far down the list,
As you say, the European
recovery story is well under way and
has really got momentum, partly
because Europe started a lot later
after the financial crisis,
stumbling through that, and only now
are we starting to really gather
momentum. But at the margin, you
know, investors are not putting
their money into the UK, it is
creating some great opportunities in
the UK because everyone is looking
the other way.
News on unemployment
June later, expected to rise
slightly, but the picture in Europe
is of a solid recovery.
There is a
little UK staffing stuck with a
global business, they are the best
lead indicator for employment, very
strong improvement in European
temporary and permanent placements,
see a continued robust performance
in the European employment market.
know you will be talking us through
the papers later.
Still to come, catching the
We meet the woman behind an app that
lets small firms track down and stop
others stealing their ideas
without using expensive lawyers.
You're with Business Live
from BBC News.
First of all, let's talk more about
Morrisons, dig deeper into those
numbers that I talked about earlier,
in the Christmas period, they saw
profits of 2.8% like-for-like in the
ten weeks to the 7th of January.
This comes in ahead of analysts'
expectations of 1.7%.
Molly Johnson-Jones is a senior
retail analyst at GlobalData.
Good morning to you, nice to see
you. Your take on these figures?
They look pretty robust.
have delivered a very strong
performance over the Christmas
period in both retail and wholesale,
because people were worried about a
slowdown, but they have invested in
their premium ranges and improved
the store experience and benefited
What have they been
doing? You explained earlier that
they had done a lot of catching up
when it comes to their offerings to
Yeah, so with the new
CEO, he has invented a turnaround
programme which means they have
played catch up with the other
supermarkets, investing in online,
going into supply deals, and they
have improved the store, improving
their supply chain in terms of
getting their ordering automated.
All very easy wins at the moment, so
in the future we will expect summer
slowdown, but they are in a good
position for 2018.
The likes of
Tesco and Sainsbury's are not too
Morrisons is a smaller
player, and the majority of their
geographical overlap is with this
counters and as that, rather than
Tesco Sainsbury's, so not a
particular thread at the moment. --
As we mentioned, Morrisons
says up 5% today. Speaking of
Christmas cheer, on our web page,
Majestic Winds say their sales were
up 3.2% compared to the same time
last year. And a big update from
Persimmon, the house-builders,
reporting an increase in revenue, it
says up 9%, that will anger many
people who say that the big
house-builders are sitting on land
and keeping prices artificially
high, an accusation they deny.
Will be getting more results as the
progresses, many retailers coming
out with their numbers, and we will
get a picture of what is going on in
terms of where we have been spending
money. Food and string sales, the
essentials, but less money to spend
on other goods. -- food and drink.
Food has been more expensive partly
because of the impact of the pound
You're watching Business Live.
Our top story:
The boss of Intel says fixes to deal
with the Spectre and Meltdown chip
vulnerabilities will be rolled out
by the end of the month
. He was speaking a the consumer
electronics show. We will have a
report from there later on with
Chloe the robot.
It's a sadly familiar tale.
A small business comes
up with a great idea,
but before they know it,
it's been copied, reproduced
and is being sold illegally.
Nearly a third of small firms rely
on their designs or plans -
their intellectual property -
for around three quarters
of their revenue.
A quarter of those had suffered
in the past five years.
And it's big business.
The OECD says imports of counterfeit
goods are worth 2.5%
of all global imports,
nearly $500 billion a year.
Rachel Jones is the founder
and chief executive of Snapdragon,
a service that helps
tackle copyright infringement.
Rachel, nice to see you. Welcome to
Good morning. Thank
This all came about because you
suffered that scenario we just
described there. You had come up
with an idea and you suddenly found
that someone was selling it
illegally. Talk us through that.
You're right. I invented a baby
product some years ago now and I had
always thought that it might be
copied, but actually the whole
absolute total copy as a counterfeit
hadn't really crossed my mind and
when one was, a counterfeit was
seized by customs I was appalled,
but I was so furious that I had to
do something about it because it
feels like a violation, but I was
too wee. It is difficult to fights
counterfeits and infridgements on my
own. I employed a couple of Chinese
students and I searched online until
I found people who were copying me
and I reported them for removal.
When we were talking about, I did
think to myself, I bet, you know,
most of these companies that are
copying and flogging these things,
exactly the same as your product
which was a high chair for babies,
they are not actually going to stop
when you point out what's going on.
Well, what we do, we make it
incredibly difficult for them to
sell the product and because any
bona fide portal must take down and
They must remove the
products from sale and if you keep
reporting people and say can't be
sold, you're cutting off the oxygen
supply and cutting off the sales
channel so they go away and do
something else. You need to be
persistent and tenacious.
to keep on at it because it will pop
up there. And also there is big
language barriers as well. We
touched on the fact that a lot of
counterfeits might be coming from
overseas. Are those the two biggest
hurdles. Time, as a small business,
you don't have the time or energy to
be doing had?
You don't have the
time or energy or the language
skills and it is distracting, you
must continue to run your business.
So we offer a service whereby we are
monitoring in 13 languages, 13
languages in house and we are
monitoring 200 or 300 E-commerce
platform for infringing products.
How does your company work? I
understand clients who become your
clients, these are companies who
make stuff and say can you watch out
for us and they pay you a fee?
That's right. Before they pay us
anything, we make sure they are
doing everything possible that's
free. There is so much that people
can do for nothing and they pay us a
small monitoring fee. We identify
the links and they can take them
down or we can help with this.
Companies like Levi and the big
names, they have whole counterfeit
kind of departments with lawyers and
investigators who are on this all
the time. They have got the money to
do that and the expertise. Is it
getting worse or better?
getting worse. Mostly because more
people are online so there are more
opportunities to buy and more
opportunities to sell and it used to
be about luxury goods and now it's
about everything from fish food to
hairbrushes. Anything and everything
that you would hope wasn't
counterfeited will be. And the
smaller business you are with a
global footprint the more likely it
is that you will be counterfeited.
We've talked about the cost to the
business. But there is a huge health
and safety implications for a lot of
products too. I was astounded by the
statistics you had about toys
particularly in Europe, the scale of
the problem when it comes to
counterfeit toys. And all the
associated health and safety risks?
It is horrible for toys and nursery
products and for pharmaceutical, but
for toys and baby things the
counterfeit products don't go
through the rigorous testing regime
that we must have in Europe to sell
bona fide product and so, people do
get hurt and that's a thing that
really makes one cross and online it
is just so difficult to tell the
difference between the genuine and
There is a long way to
go, but they're not going to get
away with it.
All this week, we're
bringing you the latest
from the Consumer Electronics Show
in Las Vegas.
Rory is there. Dave Lee is there.
It's a glitzy, flashy affair.
Some of the world's biggest
companies are showcasing
their proudest achievements.
But it's fair to say that
some presentations have
gone better than others.
Take a look at this.
Allow me to introduce Chloe. Hello
Good morning, Dave. I hope
you are well. What can I do for you
Chloe, what's my schedule?
You need to go to the gym at 10am
today. Power up. Power up. Smart
learner has set the washer to the
Chloe, am I ready on my wash room
Even robots have bad days!
T-cloically, what's for dinner
OK. Chloe is not going to talk to
me. Chloe doesn't like me!
George is back.
I tell you where he went today, he
asked her what was for dinner today.
That's the question everybody hates.
They are set up to fail. There is
little sympathy when they put on the
glitzy shows and things don't go
according to plan. There is not
going to be sympathy.
are referring to them as the
technology that's going to take us
over like Judgment Day and bring
about the end. Maybe we are seeing
the response back.
Talking tech and
the issue with male-female, the
Google engineers are fighting back.
They're no longer with Google or at
least one isn't, it is about the
memo put out there last year, the
man who wrote it was removed from
Google. He suggested the biological
differences between men and women
meant more men are more likely to
rise to the ranks than women so he's
This whole situation
is not going to play out well for
Google because they are going toe
end up giving, losing him the way
they have handled it. They should
have destructed his arguments, like
why are there four times men? What
are Google doing about it? There is
no reason why it shouldn't be 50/50.
They marched him out and he can say
you are just anti-free speech. I
think they should have done more at
the time to actually address the
core of the issue.
When he was
marched out, he was offered several
jobs straightaway or something?
to the kick back in big tech. There
is a lot of people who want to speak
to anyone who has come out of the
machines, you know, is fighting
against the system.
I want tech to
make tea and look after my kids.
What go you George? We have had lots
of viewers responses as to what we
would like technology to do for us.
If they could handle bath time to
bedtime that would be, you know...
Do it successfully?
That would be
Stephen says still waiting
for his flying car, personal jet
pack. Michael says, "Simple, I want
it to get rid of my cold." Ronnie,
this is, a lot of you saying you
want nothing more. Ronnie says, "We
are getting dangerously close to
being able to do nothing for
ourselves anymore." ." An
old-fashioned car that you just
But they will be driverless.
We're not going to drive them.
joy of driving still. You still want
to be able to drive.
George, we had another story about
GlaxoSmithKline. Talking about the
new boss, really changing senior
management in a major way?
a big issue for a number of years.
The share price is the same price it
was 25 years ago. This is a business
that hasn't gone backwards, it
stagnated. The new Chief Executive
has come in and grabbed the bull by
the horns. Key headline appointments
in research and development, but she
is changing the management
structure. Watch this space.
Sorry. I'll tweet T
George, thank you for coming in.