0:00:08 > 0:00:11This is Business Live from BBC News with Alice Baxter and David Eades.
0:00:11 > 0:00:13Another record quarter for Apple, but is the Silicon Valley
0:00:13 > 0:00:15giant still on track to become the world's first
0:00:15 > 0:00:16trillion dollar company?
0:00:16 > 0:00:18Live from London, that's our top story
0:00:18 > 0:00:28on Friday second February.
0:00:46 > 0:00:48Apple reports another bumper set of numbers -
0:00:48 > 0:00:50but is the winning streak set to continue despite
0:00:50 > 0:00:51a drop in iPhone sales?
0:00:51 > 0:00:54And the UK Government hails a successful trip to China,
0:00:54 > 0:00:56but at home the Prime Minister faces some tough questions.
0:00:56 > 0:00:58We'll hear from Theresa May later in the programme.
0:00:58 > 0:01:00European shares have opened flat to slightly lower
0:01:00 > 0:01:04following a mixed session in Asia.
0:01:04 > 0:01:07It's been another roller-coaster week for Bitcoin.
0:01:07 > 0:01:09We'll guide you through the highs and lows with our technology
0:01:09 > 0:01:15guru Rory-Cellan Jones.
0:01:15 > 0:01:19Today, we want to know - as the Premier League Football TV
0:01:19 > 0:01:21Rights auction looms once more - would you pay more to keep
0:01:21 > 0:01:22watching the footie?
0:01:22 > 0:01:24Let us know.
0:01:24 > 0:01:34Just use the #BBCBizLive.
0:01:34 > 0:01:37We start in Silicon Valley where the giants of the technology
0:01:37 > 0:01:39world have been reporting their latest results.
0:01:39 > 0:01:41The biggest of them all - Apple - has been hailing
0:01:41 > 0:01:42its best ever quarter.
0:01:42 > 0:01:45That mean's it's edging ever closer to becoming the world's
0:01:45 > 0:01:53first trillion dollar tech company by stock market value.
0:01:53 > 0:01:55Let's show you the numbers because they are staggering.
0:01:55 > 0:01:57Apple made revenues of more than $88 billion
0:01:57 > 0:02:00in the three months to the end of December, the all important
0:02:00 > 0:02:01holiday shopping season.
0:02:01 > 0:02:0220 billion of that was profit.
0:02:02 > 0:02:04That was up 12.6% on the previous year -
0:02:04 > 0:02:06setting a new earnings record for the firm.
0:02:06 > 0:02:08Apple sold 77.3 million iPhones in the quarter.
0:02:08 > 0:02:10That was down slightly on last year -
0:02:10 > 0:02:12raising concerns the iPhone's popularity is waning.
0:02:12 > 0:02:14But remember - many sales were of the more expensive
0:02:14 > 0:02:17and profitable iPhone X and we should put this in context -
0:02:17 > 0:02:20according to research just out, global sales of all smartphones
0:02:20 > 0:02:22were down 9% in the quarter - the biggest fall ever -
0:02:22 > 0:02:32as the market gets saturated.
0:03:12 > 0:03:16Revenues are up 13% because the iPhone tent is more expensive.
0:03:16 > 0:03:21Some analysts might be worried the iPhone which is two thirds of the
0:03:21 > 0:03:29revenue could be stalling. If that keeps going up, the company remained
0:03:29 > 0:03:34strong. In terms of selling the hardware,
0:03:34 > 0:03:37there is a saturation point being breached and it is worse for other
0:03:37 > 0:03:44mobile phone makers. That does drive Apple towards having to depend on
0:03:44 > 0:03:48its services. It has to make this work. Services
0:03:48 > 0:03:55was 10% of revenue, usually a larger proportion. This quarter it is high
0:03:55 > 0:03:59because of Christmas. Apple is building its services business with
0:03:59 > 0:04:04230 million active sub -- subscribers.
0:04:04 > 0:04:11If there is a risk, where is it? Where do they think we have to watch
0:04:11 > 0:04:18that over the horizon? Apple is the biggest smartphone
0:04:18 > 0:04:22maker by revenues, the biggest risk is augmented reality, things like
0:04:22 > 0:04:29Google Glass, a pair of glasses with artificial intelligence, you can
0:04:29 > 0:04:34voice activate it. It is a smartphone in your head. If Apple do
0:04:34 > 0:04:38not invest heavily to become a leader in augmented reality, it
0:04:38 > 0:04:43could fall, just as Nokia did with touch screens.
0:04:43 > 0:04:50The race to the $1 trillion value mark, what about Apple versus
0:04:50 > 0:04:56Amazon? Amazon are flying at the moment.
0:04:56 > 0:05:04It is 850 billion now. Alphabet and Google aren't far behind, neither
0:05:04 > 0:05:14Microsoft.
0:05:15 > 0:05:18Because they have all the characteristics that give them the
0:05:18 > 0:05:24strength to grow in five years, that is because if you look at the tech
0:05:24 > 0:05:31themes, boys, cloud, artificial intelligence, automation, you need a
0:05:31 > 0:05:37certain number of characteristics to be successful. Cloud infrastructure,
0:05:37 > 0:05:44a high number of users, they each have 800,000. And you need cash to
0:05:44 > 0:05:48invest. They all have it.Thank you very
0:05:48 > 0:05:50much indeed.
0:05:50 > 0:05:53Let's take a look at some of the other stories making the news.
0:05:53 > 0:05:55Japan's financial regulator has raided the offices
0:05:55 > 0:05:57of the crypto-currency exchange Coincheck.
0:05:57 > 0:05:59They say they were checking their systems following last week's
0:05:59 > 0:06:02cyber attack which saw the firm lose more than $500
0:06:02 > 0:06:07million of virtual assets.
0:06:07 > 0:06:10The regulator said security gaps in Coincheck's systems were among
0:06:10 > 0:06:17the reasons it didn't have approval to operate.
0:06:17 > 0:06:20Shares in the toymaker Mattel have fallen sharply after it reported
0:06:20 > 0:06:23a surprise loss of $252 million in the last three months of 2017
0:06:23 > 0:06:26which includes the all-important holiday season.
0:06:26 > 0:06:29Sales of its best known brand Barbie were up.
0:06:29 > 0:06:31However, overall sales fell because of children's growing
0:06:31 > 0:06:32preference for video games and electronics
0:06:32 > 0:06:42over traditional toys.
0:06:42 > 0:06:52Europe's biggest investment bank Deutsche Bank has reported a loss
0:06:52 > 0:06:55of almost $1.7 billion in the last three months of last year.
0:06:55 > 0:06:59The bank says it was heavily affected by Donald Trump's US tax
0:06:59 > 0:07:01reforms and actually made a pre-tax profit of more than $1.6 billion
0:07:01 > 0:07:03for the year as a whole.
0:07:03 > 0:07:12It's been trying to restructure itself after years of losses.
0:07:12 > 0:07:14The British Prime Minister is concluding her three-day visit
0:07:14 > 0:07:17to China where the UK has signed trade deals worth around
0:07:17 > 0:07:21$13 billion and reportedly creating around 2,500 jobs.
0:07:21 > 0:07:22At home, though, she's coming under increasing
0:07:22 > 0:07:24pressure over Brexit.
0:07:24 > 0:07:27Our political editor Laura Kuenssberg spoke
0:07:27 > 0:07:29to her in Shanghai and asked her about
0:07:29 > 0:07:33Britain's relationship with Europe and the world.
0:07:33 > 0:07:35My choice is very simple.
0:07:35 > 0:07:38We take back control of our money, we take back control of our borders,
0:07:38 > 0:07:40we take back control of our laws.
0:07:40 > 0:07:43We want that free trade agreement - we negotiate a free trade agreement
0:07:43 > 0:07:44with the European Union.
0:07:44 > 0:07:47We want that to be on as tariff-free and frictionless
0:07:47 > 0:07:53a basis as possible.
0:07:53 > 0:07:57That will be good for jobs the UK, but that also gives us the freedom
0:07:57 > 0:08:00to negotiate and to sign up trade deals around the rest of the world,
0:08:00 > 0:08:05and that's good for prosperity and jobs and people in Britain too.
0:08:05 > 0:08:07That was Theresa May speaking to our Political Editor Laura Kuenssberg
0:08:07 > 0:08:10at the end of her three day visit to China.
0:08:10 > 0:08:11The two countries have pledged to intensify
0:08:11 > 0:08:14a "golden era" in relations between London and Beijing.
0:08:14 > 0:08:24Robin Brant is in Shanghai.
0:08:24 > 0:08:30If you look at the figures in terms of trade, still more of a bronze era
0:08:30 > 0:08:34and a golden era. China seems to be the world's
0:08:34 > 0:08:44biggest economy. Only the UK's eighth biggest export market, so
0:08:44 > 0:08:49there is a huge room for improvement. A nation of 1.4 billion
0:08:49 > 0:08:54people, and ever growing middle class, the potential is huge. The UK
0:08:54 > 0:08:59and thinks it is impossible from an economic point of view to avoid
0:08:59 > 0:09:08that. She has come here on this trip and will be content heading home.
0:09:08 > 0:09:16Trade deals of $13 billion from companies like BP, Aston Martin. She
0:09:16 > 0:09:26has had reassurances from China whatever happens with Brexit, they
0:09:26 > 0:09:31believed the relationship with the UK and China will not change. For
0:09:31 > 0:09:37China, there is an eye on deepening the strategic longer term plans.
0:09:37 > 0:09:40Asian markets swung around on Friday with some recovering from early
0:09:40 > 0:09:42losses but traders remaining on edge as US Treasury yields
0:09:42 > 0:09:43rise to four-year highs.
0:09:43 > 0:09:47In particular, Tokyo stocks closed lower on worries over the US economy
0:09:47 > 0:09:49as investors dabbled in a bit of profit taking amid a number
0:09:49 > 0:09:52of corporate earnings and mindful of some upcoming US jobs data.
0:09:52 > 0:09:54This comes after equity traders around the world having been firing
0:09:54 > 0:09:57on all cylinders in recent months, sending markets to record
0:09:57 > 0:09:58or multi-year highs.
0:09:58 > 0:10:08So a slight cooling off on global markets now in evidence.
0:10:26 > 0:10:30All eyes will be on the jobs numbers today as the labour department
0:10:30 > 0:10:33will release its employment report.
0:10:33 > 0:10:35In December the number of new jobs created had come
0:10:35 > 0:10:38in well below forecast, but in January it is expected
0:10:38 > 0:10:41to have risen to 180,000.
0:10:41 > 0:10:44The unemployment rate is not likely to have changed.
0:10:44 > 0:10:46It's expected to remain at 4.1%.
0:10:46 > 0:10:46This
0:10:46 > 0:10:51It's held at that level since October, the lowest
0:10:51 > 0:10:53it's been in 17 years.
0:10:53 > 0:10:57The commerce department will release data for factory orders in December,
0:10:57 > 0:11:00and those are expected to have gone up compared to a month earlier.
0:11:00 > 0:11:02In corporate earnings, major companies from the energy
0:11:02 > 0:11:04sector will be reporting results.
0:11:04 > 0:11:08Profits at oil producer Exxon Mobile are expected to have gone up by 18%
0:11:08 > 0:11:10in the last quarter of 2017.
0:11:10 > 0:11:19Chevron is also likely to post a strong performance.
0:11:21 > 0:11:27Lawrence Gosling is editor in chief of Investment Week magazine.
0:11:27 > 0:11:33is good to see you. Another big market story, the head of the US
0:11:33 > 0:11:38Federal reserve, officially her last day in office. As I said, equity
0:11:38 > 0:11:43markets have been running at a pace, the UK economy has been doing very
0:11:43 > 0:11:50well. Donald Trump has been taking credit. If you had to share the
0:11:50 > 0:11:58awards, what would you say? Donald Trump has been in for only 12
0:11:58 > 0:12:03months, but she has headed the Federal reserve for a lot longer.
0:12:03 > 0:12:06What has driven things is quantitative easing. She has been an
0:12:06 > 0:12:13architect of that and if you go back to the Lehmans Brothers crisis, it
0:12:13 > 0:12:19would be fair to say the second half of this bid she has done a good job
0:12:19 > 0:12:29steadying the markets. Arguably the job growth we have seen is down to
0:12:29 > 0:12:37her policies. Donald Trump is claiming credit but probably hasn't
0:12:37 > 0:12:41contributed much. Choppy waters all the time, we are
0:12:41 > 0:12:45back on that deadline for the US budget. Will they be thrown back
0:12:45 > 0:12:53into chaos? The markets, note the conciliation
0:12:53 > 0:12:58in the state of the nation. The sense is it will be easier to get a
0:12:58 > 0:13:04solution this time around. Thank you.
0:13:04 > 0:13:06Still to come.
0:13:06 > 0:13:08This week, we've seen a drop in user numbers for Facebook,
0:13:08 > 0:13:11and the price of Bitcoin has yet again taken a tumble.
0:13:11 > 0:13:14Later in the programme we'll get a review of the week
0:13:14 > 0:13:15with our tech guru Rory Cellan-Jones.
0:13:15 > 0:13:19You're with Business Live from BBC News.
0:13:29 > 0:13:32Amid all this tech news, Telecoms giant BT has
0:13:32 > 0:13:34also published its results, reporting a 3% drop in sales
0:13:34 > 0:13:41in the third quarter, although pre-tax profits were up.
0:13:41 > 0:13:44Our own Theo Leggett is here to tell us more.
0:13:44 > 0:13:54What should we make of these figures from BT?
0:13:54 > 0:13:59They are disappointing but not dreadful. Pre-tax profits were up by
0:13:59 > 0:14:0425%, that sounds great but compare it with the same quarter last year,
0:14:04 > 0:14:08that was when Beattie was grappling with the outcome of a major
0:14:08 > 0:14:13accounting scandal at its Italian unit and had to make big payments.
0:14:13 > 0:14:18Take the adjusted earnings figure, sales fell 3%, adjusted earnings
0:14:18 > 0:14:25dropped down to £1.8 billion. That is not dreadful. The company says it
0:14:25 > 0:14:29is a lot to do with investment in mobile, trying to pay off pensions
0:14:29 > 0:14:39deficits. Shares this morning down about 2.8%. This company has big
0:14:39 > 0:14:44challenges. The pensions deficit is rather large, £8 billion. The
0:14:44 > 0:14:48company is looking at ways to deal with it and it is reported at some
0:14:48 > 0:14:52point it will have to get rid of its final salary pension scheme.
0:14:52 > 0:14:57Lots of changes going on at BT at recently -
0:14:57 > 0:14:58the channel-sharing deal with Sky and the Openreach superfast
0:14:58 > 0:14:59broadband roll-out.
0:14:59 > 0:15:05What impact will these have on the business?
0:15:05 > 0:15:09Last year, it agreed to legally separate Openreach and turn it into
0:15:09 > 0:15:15a stand-alone unit. Openreach at the moment is ploughing forward with an
0:15:15 > 0:15:24ambitious programme to bring ultrafast broadband to 10 million
0:15:24 > 0:15:29homes by 2025, as opposed to superfast broadband which is in 95%
0:15:29 > 0:15:33of homes but not that fast by modern standards.
0:15:33 > 0:15:39The channel sharing deal with Sky looks good, they will carry each
0:15:39 > 0:15:46other's channels. It brings BT Sport to a wider audience and those
0:15:46 > 0:15:47channels are gathering viewers fast.
0:16:02 > 0:16:08Thank you. Much more on the BBC website and much more online so had
0:16:08 > 0:16:10theirfor more. Thank you, Theo Leggett.
0:16:10 > 0:16:12You're watching Business Live.
0:16:12 > 0:16:15Our top story - Apple has reported record sales figures
0:16:15 > 0:16:16for the latest quarter.
0:16:16 > 0:16:19The company sold slightly fewer iPhones compared
0:16:19 > 0:16:21to the same time last year, yet Apple was still able to post
0:16:21 > 0:16:25a 12% increase in revenue.
0:16:25 > 0:16:27Earlier we spoke about Apple and Amazon, but earlier in the week
0:16:27 > 0:16:31Facebook also reported its latest set of financial results.
0:16:31 > 0:16:36And elsewhere in the world of tech, it's been an eventful week
0:16:36 > 0:16:41for cryptocurrency investors.
0:16:41 > 0:16:42One of which joins us in the studio!
0:16:42 > 0:16:47Here's our technology correspondent, Rory Cellan-Jones.
0:16:47 > 0:16:51I did buy a tiny amount about 18 months ago when I did a story about
0:16:51 > 0:16:58Bitcoin, forgot about it, then found out it was worth more than $1500,
0:16:58 > 0:17:04and sold a chunk of it, I have to say, and I have been watching it
0:17:04 > 0:17:09obviously very closely over recent weeks. The big story right now this
0:17:09 > 0:17:12week is a growing realisation that the sheer extent of fraud around
0:17:12 > 0:17:19this whole cryptocurrency area, we said earlier it was like the wild
0:17:19 > 0:17:24West, but no, the wild West had more rules and regulations are available
0:17:24 > 0:17:28than in the cryptocurrency world. Two major things this week. The
0:17:28 > 0:17:36Japanese financial regulators raided a cryptocurrency exchange, Coin
0:17:36 > 0:17:39Check, which revealed a few days ago it had been subject to what looked
0:17:39 > 0:17:44like the biggest bank raid in history, $530 million stolen by
0:17:44 > 0:17:51hackers. Regulators are finding out they are not very carefully
0:17:51 > 0:17:53regulated, safeguarded, those assets, and there is also a huge
0:17:53 > 0:18:01amount of fraud. I read a report just out on, and this is somehow the
0:18:01 > 0:18:05cybercriminals' new area of expertise and adventure, they are
0:18:05 > 0:18:09doing e-mails to encourage you to get into these things, pump and dump
0:18:09 > 0:18:15exercises, where they ramp up the value of a currency using fake news,
0:18:15 > 0:18:20then spread that over a social media very quickly and then get out before
0:18:20 > 0:18:22the price plunges, saw a lot of concerns and from there.You
0:18:22 > 0:18:28couldn't paint a bleak picture really, with Bitcoin and
0:18:28 > 0:18:32cryptocurrency, so what do you think is the way ahead? They have to have
0:18:32 > 0:18:36a future somewhere. Everybody says the basic idea, and
0:18:36 > 0:18:41perhaps the underlying technology, which has got a huge amount of
0:18:41 > 0:18:44enthusiasm around it, is interesting and that there will be winners
0:18:44 > 0:18:49eventually. It's just that it is so beset with
0:18:49 > 0:18:52fraud, so beset with every kind of Haque merchant at the moment that
0:18:52 > 0:18:59you have to say to people, just be very careful out there -- every hike
0:18:59 > 0:19:01merchant.And you're not one of them!
0:19:01 > 0:19:04LAUGHTER You're not surprised by the big drop
0:19:04 > 0:19:07off we have seen in January at the start of this year?What we saw the
0:19:07 > 0:19:12Bitcoin last year was this huge acceleration up to nearly $20,000,
0:19:12 > 0:19:19then it came back down to around $10,000 to $15,000 to the month of
0:19:19 > 0:19:22January, and we now seem to be seeing another acceleration
0:19:22 > 0:19:27downwards, trading around $8,000 at the moment. It is looking the
0:19:27 > 0:19:31classic bubble pattern, but the question is is this the end of the
0:19:31 > 0:19:37bubble or will we see another spate? Also on the subject of Facebook --
0:19:37 > 0:19:45will we see another spike?Yes, we have been talking about the tech
0:19:45 > 0:19:49giants, Google, Amazon, Apple, they all have enormous power and all
0:19:49 > 0:19:51heading for this trillion dollar evaluation you have been talking
0:19:51 > 0:19:55about. Facebook managed an extraordinary feat the other night,
0:19:55 > 0:19:58going into their conference call their shares had started to dip and
0:19:58 > 0:20:02people were worried about this and then somehow listening to Mark
0:20:02 > 0:20:06Zuckerberg for and our convinced the analysts and they went back up
0:20:06 > 0:20:11again.Why was that? What was he saying?He's talking a good game,
0:20:11 > 0:20:15frankly, saying it is all part of the strategy. They have at this
0:20:15 > 0:20:19changing strategy where they are going to put less news into the news
0:20:19 > 0:20:22feed and make it more about your friends and family, baby pictures,
0:20:22 > 0:20:28where I have been on holiday, less about, you know, is the Pope
0:20:28 > 0:20:34Catholic and other strange stories, and that's a bit of an experiment.
0:20:34 > 0:20:38Every time they change their news feed it is an experiment. I think
0:20:38 > 0:20:42there was one worrying figure, a figure that suggested in America
0:20:42 > 0:20:46obviously their core market usage was getting a bit, and it's sort of
0:20:46 > 0:20:54begs the question, is this an eternal upwards path? That is her
0:20:54 > 0:21:07these pictures have always been priced...Is less more? Looking at
0:21:07 > 0:21:13them out of users...Yes, a tiny amount, but what will worry some
0:21:13 > 0:21:15investors is whether that is the beginning of a trend where that is
0:21:15 > 0:21:20the sort of gold mine about that, but we shouldn't forget, they
0:21:20 > 0:21:28haven't just got Facebook, they've got Instagram, they've got What's
0:21:28 > 0:21:34App, huge unsuccessful company with all sorts of strings to its bowl.
0:21:34 > 0:21:40We're not talking about the demise of Facebook yet. -- strings to its
0:21:40 > 0:21:45bow.
0:21:45 > 0:21:47In a moment we'll take a look through the Business Pages but first
0:21:47 > 0:21:50here's a quick reminder of how to get in touch with us.
0:21:50 > 0:21:53Stay up-to-date with all the day's business news as it happens
0:21:53 > 0:21:54on the BBC's Business Live page.
0:21:54 > 0:21:57There is insight and analysis from our team of editors
0:21:57 > 0:21:58right around the globe.
0:21:58 > 0:21:59And we want to hear from you.
0:21:59 > 0:22:01Get involved on the BBC's Business Live web page
0:22:01 > 0:22:03at bbc.com/business.
0:22:03 > 0:22:04On Twitter, we're @BBCBusiness.
0:22:04 > 0:22:06And you can find us on Facebook, at BBC Money.
0:22:06 > 0:22:09Business Live, on TV and online - what you need to know,
0:22:09 > 0:22:13when you need to know.
0:22:13 > 0:22:15What other business stories has the media been
0:22:15 > 0:22:18taking an interest in?
0:22:18 > 0:22:20Lawrence Gosling is editor-in-chief of Investment Week magazine
0:22:20 > 0:22:24and is joining us again to discuss.
0:22:24 > 0:22:31Let's start on a subject close to your heart of course. It is footie
0:22:31 > 0:22:35and was a huge amount of money. We have the option for the Premier
0:22:35 > 0:22:39League, TV rights, and that will go up again.It is bound to. Just to
0:22:39 > 0:22:44remind people of the number, £5.1 billion was the price played last
0:22:44 > 0:22:49time around, largely by Sky and BT, and I think what is fascinating
0:22:49 > 0:22:52people now, who else will come in to try to push up the value of the
0:22:52 > 0:22:55rights which is clearly what the Premier League wants, so we have
0:22:55 > 0:23:03seen Amazon take on Sky on ATP tennis. Facebook? Talking about them
0:23:03 > 0:23:07earlier, and there has been some chatter as well about whether
0:23:07 > 0:23:09someone like Netflix, were clearly content is there a driving force,
0:23:09 > 0:23:13whether they will come in. When you look at the bidding rights, what is
0:23:13 > 0:23:16really fascinating, it is the overseas rights which is where the
0:23:16 > 0:23:20Premier League have done really well in attracting more revenue from
0:23:20 > 0:23:24other parts of the world.But they could be doing so much better,
0:23:24 > 0:23:29presumably?Without a doubt. When you think of the size of China, for
0:23:29 > 0:23:32example, with the Prime Minister has returned from, the appetite for
0:23:32 > 0:23:35football there is extraordinary and the Premier League are beginning to
0:23:35 > 0:23:41do bespoke rights.At the beginning of the programme we asked people to
0:23:41 > 0:23:44tweet in on whether potentially they would be willing to pay more to
0:23:44 > 0:23:49watch football. Some responses. Ben is not prepared to pay more. "Ticket
0:23:49 > 0:23:52Prices are in for the Premier League fixtures. If you put prices up for
0:23:52 > 0:23:58TV coverage fans will be taken away from football. Without fans football
0:23:58 > 0:24:03is nothing." Another one, Mike has cancelled both Sky Sports and BT
0:24:03 > 0:24:08sports. It is becoming stupidly expensive. Alice nails it. No,
0:24:08 > 0:24:12overpaid, overrated. But if you follow the Premier League you're
0:24:12 > 0:24:16probably prepared to keep paying, for the moment. Most fans are not
0:24:16 > 0:24:23going to want to lose what is such a now that part of your social life,
0:24:23 > 0:24:27isn't it?I think the Premier League is very aware there is a threshold
0:24:27 > 0:24:31for everybody. We have seen quite a lot of talking over the last 12
0:24:31 > 0:24:36months about ticket prices at matches, as one of your
0:24:36 > 0:24:39contributors... And they are aware they can't make the product too
0:24:39 > 0:24:43expensive for the core audience in the UK, so in terms of the price
0:24:43 > 0:24:46that, say, whoever gets the UK rates, maybe close to the threshold
0:24:46 > 0:24:51so that 5.1 million may not go up perhaps as much as a different last
0:24:51 > 0:24:58run.You have a sport that hasn't quite caught on... Yes, a bit more
0:24:58 > 0:25:03of a level playing field. The story about Elon musk, who knew he had yet
0:25:03 > 0:25:12another finger in yet another pie, just selling flame-throwers, and
0:25:12 > 0:25:16making $10 million.The thought of selling flame-throwers as an
0:25:16 > 0:25:19alternative sport is a bit extraordinary and extraordinary that
0:25:19 > 0:25:25the company sells things like this alongside baseball caps. The company
0:25:25 > 0:25:30is probably a bit of a misnomer in terms of what they do but the Home
0:25:30 > 0:25:34Office in this country has pointed out it is illegal to buy a
0:25:34 > 0:25:41flame-thrower.What is it?A flame-thrower.Never quite got into
0:25:41 > 0:25:44the market here. Lawrence, thank you. Enjoy your weekend.
0:25:44 > 0:25:47That's it from Business Live today.
0:25:47 > 0:25:51There will be more business news throughout the day on the BBC Live
0:25:51 > 0:25:52web page and on World Business Report.
0:25:52 > 0:25:59Keep those tweets coming in as well and we will be monitoring them as we
0:25:59 > 0:26:04go. Goodbye.