0:00:03 > 0:00:06This is Business Live from BBC News with Susannah Streeter
0:00:06 > 0:00:07and Sally Bundock.
0:00:07 > 0:00:11Facebook's overhaul of its news Feed has reduced the amount of time
0:00:11 > 0:00:13people spend on the site - but profits at the social media
0:00:14 > 0:00:17giant are still up.
0:00:17 > 0:00:19Live from London, that's our top story on Thursday 1st
0:00:19 > 0:00:29February.
0:00:35 > 0:00:412.1 billion friends and counting - and more profit than ever.
0:00:41 > 0:00:48But Facebook users are spending less time on the network.
0:00:48 > 0:00:49And 20 million new toilets -
0:00:49 > 0:00:52will this giveaway from India's latest budget be enough
0:00:52 > 0:00:56to keep voters happy ahead of a general election?
0:00:56 > 0:00:59And are friends electric: we'll be getting the inside track
0:00:59 > 0:01:03on the internet of things.
0:01:03 > 0:01:15This is how the markets are looking in Europe.
0:01:16 > 0:01:19What exactly is the internet of things and will it change our lives?
0:01:19 > 0:01:23And are we turning into machines ourselves?
0:01:23 > 0:01:23It sounds spooky, into machines ourselves?
0:01:23 > 0:01:24It sounds spooky, as into machines ourselves?
0:01:24 > 0:01:24It sounds spooky, as does into machines ourselves?
0:01:24 > 0:01:24It sounds spooky, as does the into machines ourselves?
0:01:24 > 0:01:24It sounds spooky, as does the latest into machines ourselves?
0:01:24 > 0:01:25It sounds spooky, as does the latest move from Amazon.
0:01:25 > 0:01:28Amazon has patented a wristband that tracks its warehouse
0:01:28 > 0:01:29workers' movements.
0:01:29 > 0:01:31Today we want to know - is this a useful tool,
0:01:31 > 0:01:34or is it an increase in surveillance at work?
0:01:34 > 0:01:35Let us know what you think.
0:01:35 > 0:01:44Just use the hashtag #BBCBizLive.
0:01:44 > 0:01:47Hello and welcome to Business Live.
0:01:47 > 0:01:51We start with Facebook - the world's biggest social network
0:01:51 > 0:01:53has got bigger still, with another massive jump
0:01:53 > 0:01:56in the amount of money it's making - as yet more people around
0:01:56 > 0:01:59the world sign up.
0:01:59 > 0:02:00But despite some more mind boggling figures -
0:02:00 > 0:02:02Facebook revealed its users are spending less
0:02:02 > 0:02:03time on the network.
0:02:03 > 0:02:08Revenue in the last three months of 2017 came in at almost
0:02:08 > 0:02:10$13 billion - mostly from advertising - and around
0:02:10 > 0:02:11a third of that was profit.
0:02:11 > 0:02:21This represents huge growth again - up 47% on the same period last year.
0:02:21 > 0:02:23Facebook now has 2.13 billion users who log
0:02:23 > 0:02:30on at least once a month - up 14% in a year.
0:02:30 > 0:02:34That's well over a quarter of the world's 7.5 billion population.
0:02:34 > 0:02:36But Facebook's massive reach has also increased scrutiny -
0:02:36 > 0:02:38with concerns about its effect on users' mental health,
0:02:38 > 0:02:41and on democracy - with its role in spreading so called
0:02:41 > 0:02:43"fake news".
0:02:43 > 0:02:46At the start of the year, Chief Executive Mark Zuckerberg said
0:02:46 > 0:02:53the company is changing its algorithms to shift the focus
0:02:53 > 0:02:54But now he's warned
0:02:54 > 0:02:56investors that this is already making people spend
0:02:56 > 0:02:57less time on Facebook -
0:02:57 > 0:03:07a total of 50 million fewer hours per day.
0:03:08 > 0:03:10Fergus Hay, the Managing Director of marketing and advertising
0:03:10 > 0:03:20firm Leagas Delaney, is with me.
0:03:22 > 0:03:26What did you make of what they said overnight? The markets went 5% down,
0:03:26 > 0:03:29and then up before the close. It was almost like investors didn't know
0:03:29 > 0:03:34what to take from this.That's right. This question is the long
0:03:34 > 0:03:38term value of Facebook. The decline in hours per day shows us that they
0:03:38 > 0:03:43have challenges. As a media company, they rely on quantity and quality of
0:03:43 > 0:03:46consumers on their platform, but that consumer base has aged with
0:03:46 > 0:03:53Zuckerberg. The consumers under 30 are much more discerning about their
0:03:53 > 0:04:01own value as media vehicle.So this is a long term issue for Facebook,
0:04:01 > 0:04:05as opposed to a blip out what was the end of a tough year, which is
0:04:05 > 0:04:08what Mark Zuckerberg said? Fundamentally, their businesses
0:04:08 > 0:04:12based on trading media. If Brand see that the lost generation, the young
0:04:12 > 0:04:16consumer of the future, who isn't currently under platform, then
0:04:16 > 0:04:18brands will put their money elsewhere. That undermines a
0:04:18 > 0:04:22business model that is based on 98% of their revenue from media sales.
0:04:22 > 0:04:27So instead, perhaps these younger users are on Snapchat or Instagram.
0:04:27 > 0:04:32How can Facebook integrate those users within the platform?That is
0:04:32 > 0:04:35the fundamental business strategy challenge for Facebook. If you look
0:04:35 > 0:04:41at their competitors, there is one in China that has built a business
0:04:41 > 0:04:44based on customer experience. They have a series of services that are
0:04:44 > 0:04:49e-commerce enabled, using one piece of doom which enables consumers to
0:04:49 > 0:04:54have a frictionless experience of purchasing products. Facebook are a
0:04:54 > 0:05:00media vertical company. They must think about how they can use a
0:05:00 > 0:05:03payment platform to have a customer experience across all of the
0:05:03 > 0:05:07elements that gives a frictionless experience.So what are we looking
0:05:07 > 0:05:10at in terms of the future for Facebook? Will it still be a
0:05:10 > 0:05:15dominant a player as it is now, or are others crowding in and taking
0:05:15 > 0:05:19their market share?Scale is a great thing and they have enormous scale.
0:05:19 > 0:05:23Would you bet against Zuckerberg? Am not sure I would, but they do have
0:05:23 > 0:05:26to think aggressively about how they change their fundamental business
0:05:26 > 0:05:31model. I wouldn't imagine that they couldn't do it, but do they have a
0:05:31 > 0:05:34dilemma where the modern uses have outdone them and are they a
0:05:34 > 0:05:39monolithic and sterile media business?I mean, he is 33! I have
0:05:39 > 0:05:43to remind myself that he was just a student starting up a platform for
0:05:43 > 0:05:50his mates at uni.Quite a smart one, though!What do you think about
0:05:50 > 0:05:51Facebook? Get in touch.
0:05:51 > 0:05:55Let's take a look at some of the other stories making the news.
0:05:55 > 0:05:58Royal Dutch Shell's profit more than doubled in 2017 -
0:05:58 > 0:05:59to $16 billion.
0:05:59 > 0:06:04The Anglo-Dutch company benefited from stronger oil and gas prices.
0:06:04 > 0:06:07It also reported a sharp rise in cash flow as the effect of years
0:06:07 > 0:06:14of cost cuts and the integration of BG Group filtered through.
0:06:14 > 0:06:16Japan's Fujifilm Holdings is set to take over Xerox
0:06:16 > 0:06:22in a $6.1 billion deal.
0:06:22 > 0:06:26The acquisition comes as Xerox has been under pressure to find
0:06:26 > 0:06:29new sources of growth amid waning demand for office printing.
0:06:29 > 0:06:31Fujifilm hopes the purchase will boost its revenues
0:06:31 > 0:06:35to $18 billion annually.
0:06:35 > 0:06:39eBay plans to drop its long-time partner PayPal -
0:06:39 > 0:06:42instead, hiring Dutch company Adyen for its payments business.
0:06:42 > 0:06:45eBay said the shift will result in lower payment processing
0:06:45 > 0:06:46costs for merchants.
0:06:46 > 0:06:56PayPal shares plummeted by 10% after the news was announced.
0:06:56 > 0:06:59Before coming to add, we were talking about the fact that there
0:06:59 > 0:07:03are so many companies with a earnings out that we can't cover
0:07:03 > 0:07:06them all, but they are all on our website.
0:07:06 > 0:07:10Let's go to the Indian capital New Delhi now,
0:07:10 > 0:07:12where the Finance Minister has been announcing this year's budget.
0:07:12 > 0:07:15Arun Jaitley is under pressure to keep voters happy in the run up
0:07:15 > 0:07:17to a general election, but also reassure investors
0:07:17 > 0:07:22who are concerned about the state of the government's finances.
0:07:22 > 0:07:27Devina Gupta is in New Delhi.
0:07:27 > 0:07:31Tell us more about this giveaway - 20 million new toilets, I
0:07:31 > 0:07:41understand?Absolutely. It was a pretty predictable budget on that.
0:07:41 > 0:07:46It is part of the rural economy overhaul, with the rural
0:07:46 > 0:07:49infrastructure, electrification and cleanliness in focus for the
0:07:49 > 0:07:52government, which has faced a backlash from the rural voters. They
0:07:52 > 0:07:57have also given additional funds to farmers. We will be seeing a social
0:07:57 > 0:08:02scheme for a national health policy for 100 million families in this
0:08:02 > 0:08:05budget. Employment is another area where the government was facing
0:08:05 > 0:08:16pressure. They have been able to give socks to younger employees,
0:08:16 > 0:08:23with pensions benefits -- sops. For politicians, they may also come
0:08:23 > 0:08:30under criticism for spending. The fiscal deficit, a measure of
0:08:30 > 0:08:36government expenditure, has gone up to 3.5% of GDP, missing the target
0:08:36 > 0:08:40of 3.2%. To compensate, the finance minister has said there would be
0:08:40 > 0:08:47more taxation on health, education and those investing in stock
0:08:47 > 0:08:53markets. The slight good news for small and medium enterprises is that
0:08:53 > 0:08:56corporate tax has reduced. But the overall industry, there hasn't been
0:08:56 > 0:09:01much tax relief.
0:09:01 > 0:09:10Lets check in with the financial markets now.
0:09:10 > 0:09:15There is a bit of a mixed bag globally.
0:09:15 > 0:09:17Japan's Nikkei rose 1.7% from a four week
0:09:17 > 0:09:19low the previous day.
0:09:19 > 0:09:21The Hang Seng in Hong Kong is lower partly over concerns
0:09:21 > 0:09:24about rising interest rates - that was prompted by comments
0:09:24 > 0:09:26made by Janet Yellen - the outgoing chair of the fed
0:09:26 > 0:09:29at her last meeting as chair of the US central bank -
0:09:29 > 0:09:32she indicated that higher inflation is expected, so there would be
0:09:32 > 0:09:34further interest rate tightening later this year,
0:09:34 > 0:09:35with higher inflation expected.
0:09:35 > 0:09:40The BSE benchmark Sensex was trading
0:09:40 > 0:09:45much higher earlier, but has slipped back
0:09:45 > 0:09:50as investors digested what the giveaway budget
0:09:50 > 0:09:56from finance minister Arun Jaitley means for the indian economy.
0:09:56 > 0:09:58This is how European indices are looking since opening.
0:09:58 > 0:10:01And Yogita Limaye has the details about what's ahead on Wall Street
0:10:01 > 0:10:02Today.
0:10:02 > 0:10:05Another day of big corporate earnings.
0:10:05 > 0:10:08Apple will be releasing its results and profits are likely to have
0:10:08 > 0:10:09increased during the last quarter of 2017.
0:10:09 > 0:10:13But I think what investors will really be looking out
0:10:13 > 0:10:16for is the company's forecast for the month and year ahead,
0:10:16 > 0:10:19because of the concerns about sluggish demand
0:10:19 > 0:10:21for the iPhone X.
0:10:21 > 0:10:23E-commerce giant Amazon will also be reporting earnings,
0:10:23 > 0:10:25and those are expected to be good as well.
0:10:25 > 0:10:34Analysts will be watching for more details of the company's plans
0:10:34 > 0:10:36to tie up with Berkshire Hathaway and JP Morgan Chase
0:10:36 > 0:10:43to cut health care costs for their employees.
0:10:43 > 0:10:46Apart from that, we have Google's parent company Alphabet, Visa,
0:10:46 > 0:10:49MasterCard and Time Warner, to name just a few, who will reveal
0:10:49 > 0:10:51how they performed from October to December last year.
0:10:51 > 0:10:52There will be some economic data too.
0:10:52 > 0:10:55Car sales numbers will be out, which are likely to have
0:10:55 > 0:10:57dipped in January compared to a month earlier.
0:10:57 > 0:10:59Joining us is Tom Stevenson from Investment Director
0:10:59 > 0:11:06at Fidelity International.
0:11:06 > 0:11:10Such a busy week. Let's start with the Fed, Janet yellow and overseeing
0:11:10 > 0:11:16her last meeting as Fed chair. Looks like we have rates going up in
0:11:16 > 0:11:21March?Yes, that is the implication of what she had to say. She can look
0:11:21 > 0:11:25back on the past four years and be proud of what she has achieved, the
0:11:25 > 0:11:29twin mandates of the Fed to keep inflation in check and keep
0:11:29 > 0:11:37unemployment low. She has definitely achieved that.And unravelled
0:11:37 > 0:11:41quantitative easing.Yes, so she has set her successor up with a good
0:11:41 > 0:11:49position.And that really has been digestive in the markets. There has
0:11:49 > 0:11:53been nervousness in the global market about the impact of this. If
0:11:53 > 0:11:57rates continue to go higher, what about those low-cost loans that so
0:11:57 > 0:12:03many industries have relied on, particularly retail?That is the big
0:12:03 > 0:12:06concern. The market is high, and for good reason. If we look at the
0:12:06 > 0:12:10fourth-quarter results, and we have lots coming out, they are pretty
0:12:10 > 0:12:16strong. We are expecting growth of 14% for the fourth quarter. The tax
0:12:16 > 0:12:21reforms are coming through. But as you say, the shadow hanging over
0:12:21 > 0:12:25that is where next for interest rates? It is going to tighten costs
0:12:25 > 0:12:27for companies and it will make alternative investments more
0:12:27 > 0:12:33attractive.And on earnings, we are hearing from lots of companies like
0:12:33 > 0:12:40Microsoft. We have Alphabet, Amazon and Apple. The Triple-A! What is
0:12:40 > 0:12:46your sense of where we are going with these?The earnings are looking
0:12:46 > 0:12:53strong. At this stage to still be growing earnings in double digits,
0:12:53 > 0:12:5714% expected growth is very encouraging. It could keep the
0:12:57 > 0:13:08market bubbling.We will be talking to you later about the Amazon
0:13:08 > 0:13:14tracker. People already know where I am and my job!
0:13:14 > 0:13:15Still to come...
0:13:15 > 0:13:18Are friends electric: we'll be getting the inside track
0:13:18 > 0:13:21on the internet of things.
0:13:21 > 0:13:23What exactly is it and will it change our lives?
0:13:23 > 0:13:31You're with Business Live from BBC News.
0:13:31 > 0:13:34The Northern Powerhouse project was launched to redress the economic
0:13:34 > 0:13:38imbalance between the north and south of England.
0:13:38 > 0:13:44But four years on, a new report has found that children in the North
0:13:44 > 0:13:49are on average one GCSE behind those in the south.
0:13:49 > 0:13:55Our economics editor Kamal Ahmed met with Lord Jim O'Neill,
0:13:55 > 0:13:57former treasury minister and architect of the
0:13:57 > 0:13:59Northern Powerhouse, to ask whether it is still a priority
0:13:59 > 0:14:00for the Government.
0:14:00 > 0:14:03For the past couple of years, the North West part
0:14:03 > 0:14:06of the Northern Powerhouse has been outperforming the whole country.
0:14:06 > 0:14:09Whether that's because of policies to do with Northern Powerhouse,
0:14:09 > 0:14:11I suspect some of it is, or other stuff, is
0:14:11 > 0:14:12obviously debatable.
0:14:12 > 0:14:15I suspect it is.
0:14:15 > 0:14:18But it is really an encouraging basis for so many of the things
0:14:18 > 0:14:21to build on, to take us to this long-term Holy Grail of closing
0:14:21 > 0:14:22the productivity gap.
0:14:22 > 0:14:32Which, importantly, in a national context,
0:14:32 > 0:14:35it is not just important from those from the north and passionate
0:14:35 > 0:14:37about the north, it would change the game for the economy nationally.
0:14:37 > 0:14:40But how important is that for the general strength
0:14:40 > 0:14:41of the UK economy?
0:14:41 > 0:14:43London is a huge contributor, financially, to the
0:14:43 > 0:14:44rest of the country.
0:14:44 > 0:14:46It's not really, ultimately, that good for London or the rest
0:14:46 > 0:14:49of the country if we are dependent on hand-outs in London.
0:14:49 > 0:14:52If you have your own local engine that is economically
0:14:52 > 0:14:55as powerful as London, it is a game changer for the nation.
0:14:55 > 0:14:57Do you think that Theresa May and Theresa May's government
0:14:57 > 0:15:07has the same commitment to the Northern Powerhouse
0:15:07 > 0:15:09that George Osborne, when you were Treasury Minister,
0:15:09 > 0:15:11had to the Northern Powerhouse?
0:15:11 > 0:15:15I don't think it can be as strong as when I was there
0:15:15 > 0:15:19with George Osborne, because it was sort of like my baby.
0:15:19 > 0:15:22And it became a huge, top five priority for the government.
0:15:22 > 0:15:23Is it still?
0:15:23 > 0:15:27It's not as big.
0:15:27 > 0:15:28What I would say, more encouragingly,
0:15:29 > 0:15:33is if you go right back
0:15:33 > 0:15:34to the Prime Minister's first speech on Downing
0:15:34 > 0:15:36Street's steps, it is very
0:15:36 > 0:15:38clear that she is sympathetic to the whole goal of doing something
0:15:39 > 0:15:43like the Northern Powerhouse.
0:15:43 > 0:15:49Lord Jim O'Neill. There are lots of results out today. We have the story
0:15:49 > 0:15:56about sales up at the Irn-Bru maker. They have climbed, despite the
0:15:56 > 0:16:00decision to cut the sugar in its strengths. That is up 7.5% on the
0:16:00 > 0:16:05previous year. You are watching Business Line.
0:16:16 > 0:16:20Our top story, Facebook's overhaul of the news feed has reduced the
0:16:20 > 0:16:24amount of time users are spending on the site, but the profits are still
0:16:24 > 0:16:27going up and up, also the number of users that are joining them is
0:16:27 > 0:16:32increasing. Let's take a look at how the financial markets are faring so
0:16:32 > 0:16:36far today, since the European markets open. You can see the FTSE
0:16:36 > 0:16:48is up, as is the DAX and the track -- but on. Two
0:16:48 > 0:16:50Now, technology is going to make all of our lives easier -
0:16:50 > 0:16:54be it at home or at work - at least that's the promise
0:16:54 > 0:16:56of all tech companies.
0:16:56 > 0:16:58Many of us have welcomed technology into our homes -
0:16:58 > 0:17:00or will - in the form of the internet of things.
0:17:00 > 0:17:02That's using internet to control everything
0:17:02 > 0:17:10from your lights, to the kettle, to the dishwasher timer.
0:17:10 > 0:17:15Alexa and Google Home are two examples you probably know.
0:17:15 > 0:17:19And the global market is expected to grow from $157 billion
0:17:19 > 0:17:22in 2016 to $457 billion by 2020.
0:17:22 > 0:17:24And at work augmented reality is being used at some
0:17:24 > 0:17:29of the biggest companies - like Boeing, Ford and DHL.
0:17:29 > 0:17:30It's helping in anything from 3D modelling
0:17:30 > 0:17:33to logistics, to training.
0:17:33 > 0:17:36One company involved in both of these technologies is PTC
0:17:36 > 0:17:41and its Chief Executive Jim Heppleman is here
0:17:41 > 0:17:47good to have you on the programme. Just explain how your company works
0:17:47 > 0:17:52within the internet of things?We are a software company, we provide
0:17:52 > 0:17:56enabling technologies to help companies achieve this connectivity
0:17:56 > 0:18:00and build applications that make companies more efficient.You are
0:18:00 > 0:18:02business to business, providing software applications for other
0:18:02 > 0:18:08companies?Yes.How much of this is overtaking what you do?This new
0:18:08 > 0:18:11business is about a quarter of new sales and is growing quite fast. It
0:18:11 > 0:18:15has lifted the overall growth rate of the company substantially. It is
0:18:15 > 0:18:26quickly becoming our core business. When we talk about the internet of
0:18:26 > 0:18:28things, it is an all-encompassing phrase. We are talking about
0:18:28 > 0:18:30augmented reality, tracking devices, all sorts. One we mentioned is
0:18:30 > 0:18:34Amazon's idea. It is all-encompassing?It means
0:18:34 > 0:18:37connecting physical objects that are not computers or smartphones to the
0:18:37 > 0:18:42internet, so we can get data from them. Augmented reality is the
0:18:42 > 0:18:44opposite, it is taking digital data and bringing it back into the
0:18:44 > 0:18:51physical world, where we can adapt to what we see in the physical
0:18:51 > 0:18:56world.We have this magazine, Sally is holding the tablet just above it.
0:18:56 > 0:19:03You can actually see the page leaping out at you.This is a
0:19:03 > 0:19:07digital overlay on a paper magazine to bring the story to life and add a
0:19:07 > 0:19:11level of precision, detail and understanding that it's hard to
0:19:11 > 0:19:16guess just from the paper.There are real concerns about the algorithms
0:19:16 > 0:19:22used. Is there much regulation? People are quite rightly concerned
0:19:22 > 0:19:27about just how much data is being gathered on us at every moment,
0:19:27 > 0:19:30really. And whether there are the right protections in place?In
0:19:30 > 0:19:36certain pockets of the market, there are regulations, like in the medical
0:19:36 > 0:19:40industry. In general, no, it is a bit like the wild West and companies
0:19:40 > 0:19:44are able to do lots of great things, and probably some of them might do
0:19:44 > 0:19:48things we don't like.Do you think that over time we are going to see a
0:19:48 > 0:19:53separation of those elements that we just don't want, and those elements
0:19:53 > 0:19:58that worry us about privacy, the fact we are being watched or
0:19:58 > 0:20:06listened to all the time? For example, I was given an AI tool for
0:20:06 > 0:20:11Christmas and I have unplugged it, I am conscious that it is listening to
0:20:11 > 0:20:15everything in my kitchen and gathering data about my household?I
0:20:15 > 0:20:19would say in a business to business context we are gathering data from a
0:20:19 > 0:20:23lot of inanimate objects, elevate us, escalators, robots on shop
0:20:23 > 0:20:28floors, cattle in fields. I think definitely from the consumer and
0:20:28 > 0:20:32personal privacy space you have to be careful, but I think the privacy
0:20:32 > 0:20:35concerns are much less in business to business settings than the
0:20:35 > 0:20:39financial returns, which are much greater than making it more
0:20:39 > 0:20:45efficient.You talked about smart sensors in bins, so that refuse
0:20:45 > 0:20:48collectors can go straight to one that needs emptying. People fear
0:20:48 > 0:20:51that technology could be used to monitor what they are putting their
0:20:51 > 0:20:56bin and potentially give them a fine?I think it would take a lot
0:20:56 > 0:20:59more sensing to figure out what you are putting in, than just to figure
0:20:59 > 0:21:05out how full it is. But the world can be much more efficient, much
0:21:05 > 0:21:09greener, much more sustainable, if we focus our energy on emptying
0:21:09 > 0:21:13trash bins that are full, rather than just running the same route
0:21:13 > 0:21:17every day. We have two balance the tremendous efficiencies with
0:21:17 > 0:21:20legitimate privacy concerns.Do you think we'll get the point where all
0:21:20 > 0:21:23companies have to embrace this, no matter what kind of business they
0:21:23 > 0:21:28are in? It is something that will take them to the next level?The
0:21:28 > 0:21:31business benefits are profound. Frankly, the barrier to entry is not
0:21:31 > 0:21:35that high. Big companies need to move fast, partly out of fear that
0:21:35 > 0:21:40smaller companies will beat them to the punch. It is something most
0:21:40 > 0:21:44companies are doing and all companies have to do.This random
0:21:44 > 0:21:51article is actually something you have written? For the Harvard
0:21:51 > 0:21:54Business Review?I wrote that with Professor Porter, a famous professor
0:21:54 > 0:22:01from Harvard. They can find that in PDF format on the website and take a
0:22:01 > 0:22:08look at that.Fascinating, I do like my little AR moment. In a moment we
0:22:08 > 0:22:12will go through the business pages, first, a reminder of how to get in
0:22:12 > 0:22:16touch.
0:22:16 > 0:22:21Stay up-to-date with the business news as it happens on the Business
0:22:21 > 0:22:24Live page, with analysis from editors around the globe. We want to
0:22:24 > 0:22:30hear from you as well. Get involved on the web page.
0:22:34 > 0:22:41You can find us on Facebook, on Bbc Live. What you need to know, when
0:22:41 > 0:22:43you need to know.
0:22:48 > 0:22:51Tom Stephenson is back, as promised, and we are going to talk about this
0:22:51 > 0:22:55story in the Guardian, Amazon patenting a wristband tracking
0:22:55 > 0:23:00warehouse workers' movements. That is what we were discussing, a scary
0:23:00 > 0:23:08story, or really useful?Ceilidh, very useful for Amazon. I would
0:23:08 > 0:23:12suggest probably less useful for people working there. A lot of
0:23:12 > 0:23:17lower-level jobs around the world are being replaced by robots,
0:23:17 > 0:23:21clearly. That is a big concern. I think this story takes this to a
0:23:21 > 0:23:25whole new level. Essentially, the workers are being turned into
0:23:25 > 0:23:30robots. What this does, the tracker, it's not just says where you are, it
0:23:30 > 0:23:35actually nudges you with vibrations, when your hand is moving in the
0:23:35 > 0:23:40wrong place. It is designed to make workers more efficient, in a way
0:23:40 > 0:23:44that helps them to pick things out of bins, but it is a bit scary.It
0:23:44 > 0:23:48could be really useful for people with reduced mobility at home, a
0:23:48 > 0:23:53type of wristband like this. It depends on where these devices are
0:23:53 > 0:23:57used?Think that is true of all technology. I mean, the technology
0:23:57 > 0:24:01is neutral, it is how you use it that matters.Let's look at what you
0:24:01 > 0:24:04think about this, we ask that the beginning of the programme.
0:24:04 > 0:24:09Christopher says it is both scary and progress. It might start mainly
0:24:09 > 0:24:12as a helping tool, but it will end up as primarily surveillance. John
0:24:12 > 0:24:18says it is an unacceptable increase in surveillance. Another, Big
0:24:18 > 0:24:22Brother, anyone? They are watching you! Let's talk about Theresa May.
0:24:22 > 0:24:27They two of her tour of China. The problem is with regards to leaving
0:24:27 > 0:24:30the European Union very much to the fore. She has to respond to
0:24:30 > 0:24:33questions wherever she goes about Brexit. The latest discussion point
0:24:33 > 0:24:38is about her strong stance, I guess she would see it, on EU citizens
0:24:38 > 0:24:43during a transition phase and their rights?That is right. Theresa May
0:24:43 > 0:24:46probably went to China and she was a bit relieved to get out of the
0:24:46 > 0:24:54country for three days. There is so much going on, all of this about the
0:24:54 > 0:24:59leadership challenge, etc. We now have a stand off with Europe and it
0:24:59 > 0:25:03is getting to an intense phase. This final year of negotiations is
0:25:03 > 0:25:09absolutely crucial. She is, frankly, in rather a weak position. From an
0:25:09 > 0:25:13investor, market perspective, how I look at it, it is quite interesting.
0:25:13 > 0:25:17If we look at January, a fantastic month in the markets, for markets
0:25:17 > 0:25:22generally around the world. At the UK absolutely lagged behind. A key
0:25:22 > 0:25:28reason is Brexit uncertainty.A lot of talk about opportunities for the
0:25:28 > 0:25:31UK outside the EU, that is why she is visiting China but there is a lot
0:25:31 > 0:25:34of competition there?Yes, Britain is not the only country in China to
0:25:34 > 0:25:40do deals, and get a relationship with China. You know, Germany is in
0:25:40 > 0:25:43a fantastic position, and everybody else is doing it as well.Thanks so
0:25:43 > 0:25:47much for being with us. Thank you for your company. You can find out
0:25:47 > 0:25:50about all the different results we were talking about, corporate
0:25:50 > 0:25:56earnings, on the BBC web page. Have a really good day. We will see you
0:25:56 > 0:25:58soon. Goodbye.