A look at the global business stories.
Browse content similar to 13/02/2018. Check below for episodes and series from the same categories and more!
This is Business Live
from BBC News with Samantha
Simmonds and Ben Thompson.
A milestone for tourism to Tunisia.
The travel operator Thomas Cook
resumes holidays to the country
for the first time since the terror
attacks 3 years ago.
Live from London,
that's our top story
on Tuesday 13th February.
Can Tunisia bounce
back following those
We'll take a look at what's
changed since 2015.
Also in the programme...
The US President unveils his 1.5
trillion dollar infrastructure plan,
but is it what the market is looking
for following the recent
ups and downs?
And you can see the markets, the
FTSE opening up just a fraction.
And a hairbrained idea?
We'll meet the man dismissed
from Tv's Dragon's Den,
but went on to launch
a multi-million dollar business
He is here and he will explain how.
And as a new report says more
than a quarter of young people
want to run their own firm -
we want to know, if you could quit
work and start your own firm,
what would it be?
Let us know, use the
Hello and welcome to Business Live.
It's been nearly three years
since attacks by so-called
Islamic State in Sousse and Tunis
killed 60 people in Tunisia.
The majority of the victims
were European tourists.
At the time tour operator
Thomas Cook stopped
operating in the country -
but now it's announced it will start
selling trips there again today.
Tunisia has been making
a slow recovery since
the terror attacks.
In 2017 the National Office
of Tunisian Tourism say that
6.7 million tourists
visited the country,
a rise of 23 percent
compared with the previous year.
Egypt has also suffered
from recent terror attacks.
This includes the 2015 bombing
of a Russian airliner
which killed 224 people.
But earlier this month, the Kremlin
resumed flights to the country
after a 26 month suspension.
With me is Sarah Grady,
Travel and Tourism analyst,
Good morning and welcome. I wonder
if we could start with how
significant this move is, Thomas
Cook saying it will begin selling
holidays are gay, bell-macro selling
Does it mean?
In terms of the impact
it can have on Tunisian tourism and
the economy as a whole, it is huge.
How badly affect it was said? This
awful terror attacks, what does it
do to a tourist economy like
The Tunisian economy is so
dependent on tourism, it had a
devastating effect, UK arrivals fell
by an think 90% from 2014 until now,
a huge impact. Going forward it
bodes well to have different
carriers going out there and
allowing people to go on holiday to
You think Thomas Cook
saying it is OK will give people
confidence too big?
think with some that is renowned for
its speech and sunshine holidays, if
you want a beach holiday you don't
want to think about whether it is
safe, your insurance being
invalidated, the package providers
going out there provides confidence.
So where have people been going
since these package holidays were
polled, it was very popular?
seen people go to similar
destinations, Greece, Cyprus, even
more recently Egypt and Turkey have
been improving, it can bounce back.
The infrastructure and what we know
about what has happened to those
hotels in three years, have they
been lying dormant, the
infrastructure may not be update, it
will take a little bit of time to
get back up and running.
I think this is a test season, we
need to see how these trips go and I
expect going forward we will see
other carriers opening rates and
it's a case of time. There will have
been a lot of improvements in
security, both border control and
actually on the ground, I think it
bodes well. Interesting milestone as
Absolutely. Sarah, thank
you. Let's look at some of the other
stories making the news.
Starting today, Japanese
cryptocurrency exchange Coincheck
will allow customers to withdraw
money from its portal.
Just over two weeks ago,
the exchange abruptly announced
the suspension of a number
of services after hackers stole
$530 million worth of digital money.
A BBC study has found that a quarter
of property in England and Wales
owned by overseas firms is held
by entities registered
in the British Virgin Islands.
23,000 properties are owned
by nearly 12,000 firms registered
in the overseas territory -
that's more than any other country.
India's Tata Steel says it
will invest over $100 million
to repair a blast furnace
at Britain's largest steelworks
in Port Talbot, in South Wales.
The move would extend its life
by seven years and ease concerns
about Tata's commitment to making
steel in Europe.
It comes after the firm
signed a preliminary deal
to merge its European steel
assets with ThyssenKrupp.
Let's stay with manufacturing, this
time in Asia.
General Motors is to shut
one of its four plants
in South Korea as it tries
to make its Asian Business
The plant - which was only
running at 20% capacity -
will close in May.
Monica Miller is in Singapore
to explain why the firm
is taking this step...
Welcome, I guess it makes financial
sense. The company has been in the
process of downsizing globally, the
automotive maker sending this
message to South Korean workers, the
world focusing on the Pyeongchang
all in games, this is no
coincidence, General Motors has had
several rocky battles with the
unions that represent over 16,000
Korean factory workers and this is
about to cut costs to stem losses.
The announcement was made by General
Motors career saying it plans to
close one other four plans in an
effort to cut costs and downsize
overseas operations. They agreed in
this to pay a charge of $850 million
for the closure impacting more than
2000 employees on a coastal city,
the close-down expected in the month
of May. The plans and South Korea
make cars exported to dozens of
different countries including Buick
SUBs. This is not just the impact
and South Korea, units in India,
Russia, western Europe and Southeast
Asia have been downsized are closed
and the company has been putting
more resources into China, it sells
for more cars, SUBs and trucks than
any other country in the nation.
Monica, thank you.
Let's take a look at the markets.
stocks pulled further away
from two-month lows on Tuesday,
lifted by Wall Street's extended
rebound from last week's steep fall,
but investors remained
cautious ahead of U.S.
inflation data later in the week.
The Hang Seng is up, as was Dow
Jones. The FTSE down a fraction.
And Joe Miller has the details
about what's ahead
on Wall Street Today.
On Tuesday it's all food and drink.
We'll hear from Coca-Cola rival,
PepsiCo, which is reporting
And the company has recently
launched Bubbly, it's a sparkling
water brand aggressively marketed
to millennials, complete
with an expensive ad
campaign to coincide
with the Oscars coverage.
But revenues at the firm
have been flat recently,
in part because America is slowly
falling out of love with the sugary
drinks it helped popularise.
And we'll see whether any company
can survive when the behemoth
which is Amazon enters their market
when Blue Apron reports.
It's a food brand also aimed
at busy, young people,
which specialises in home delivered
meal kits complete with all
the necessary fresh ingredients.
Its shares have lost almost three
quarters of their value
since the company floated to great
fanfare last summer.
Joining us is Jeremy Cook,
Chief Economist at World First.
Good morning. Inflation back
in the spotlight again. Intertwined
with interest rates. We get the
latest reading in the UK, investors
will look at that very closely.
UK numbers at 9:30am, US numbers
tomorrow, it all comes back to huge
volatility we had last week, the
Friday before, taking you back 10-11
days, big wage numbers from the
United States, people saying are we
getting to the point in the US for
we talk about high-level soccer
inflation, is a very high, the
global financial crisis or inflation
rate is quite low, but are above
where it central banks and investors
have what used to over the course of
the last ten years. If that glacial
numbers from the US tomorrow is
high, showing with the stimulus
coming through from the Trump tax
plan, we are at towards the end of
the cycle of growth in the US
economy, are we looking at a Federal
Reserve may have to hike interest
rates faster than it is at the
We've been keeping a close
eye on South Africa, we are
expecting an announcement in the
next hour soak about the future of
Jacob Zuma, the uncertainty and
instability on the economy is a
knock-on effect, Cyril Ramaphosa
will have a lot to do when
eventually he comes in.
eventually comes in, Jacob Zuma is
half President have limpid, the ANC
have said we have not we have
replaced you, the meeting, we expect
an announcement as you said in the
next hour, if he does not leave as a
result of bad it will go to
Parliament, it happened in the early
2000, as soon as Cyril Ramaphosa is
in, we expect things to start
picking up. The infrastructure needs
We will find out in the next
hour. Interesting times. You will be
back with the paper stories but for
now, thank you and nice to see you.
Still to come...
We'll detangle the trials
and tribulations of launching
a multi-million dollar hair product.
We'll meet to the inventor
of the "tangle teezer".
You're with Business
Live from BBC News.
It's a big day for the UK economy
with inflation and house
price figures due from the Office
for National Statistics.
a near six year high
towards the end of last year,
but has it peaked?
Andrew Walker is here
to tell us more.
We were talking about what markets
are looking for as far as inflation
is concerned that this has an effect
on the money in our pocket.
Absolutely, what most people are
expecting is another small decline
in the headline rate of inflation,
consumer price inflation, the most
recent figure was 3%, the peak,
probably the peak was 3.1% a couple
of months earlier, the figure we are
expecting for January is to put
nine. The question is have we seen
the end of the spike in inflation,
following from the decline in the
value of sterling which makes
imported goods more expensive. It
may be that we are now passed that
peak although a small word of
warning from the Bank of England.
They have suggested that the recent
rise we have seen in the price of
crude oil although it was partly
reversed in the financial markets,
there has been a boost to the price
of crude oil, that might feed
through and put English and back up
a little bit, again, but the chances
are in terms of the effect of the
decline of sterling, we are probably
through the worst of it.
could this have in terms of any
impact from the Bank of England?
thing is whether this decline from
the peak continues. We are expecting
the Bank of England to start raising
interest rates fairly soon. If this
decline continues at the kind afraid
we have been seeing the applications
for the Bank of England will be that
they will move slowly and in very
small steps. The big question I
suppose is if there is a decisive
upturn again then they might start
thinking about the need to move more
quickly but it's not what we are
Andrew, thank you. Full
coverage of that in the BBC Business
live page and the story catching our
ride, don't use showgirls to sell
roof tiles as the headline, a lot of
controversy late about red girls and
promotional girls, this story on the
BBC Business live page. Not the most
obvious connection. A new industry
regulator will issue a code of
You are watching business life.
You're watching Business Live.
Our top story - the travel operator
Thomas Cook has resumed
holidays to Tunisia.
It's the first time
the company has operated
in the country since the deadly
terror attacks which killed 60
people, 3 years ago.
We have been discussing how the
country is getting itself back on
A quick look at how
markets are faring....
Can you imagine being
told your business idea
was destined to fail?
Not only that, but being told that
on national television.
Well that's what happened
to our next guest when he appeared
on the reality TV show Dragon's Den
when pitching an idea
for a new type of hairbrush -
that detangles knotted hair.
He came up with the idea
for the product in 2004.
After three years of research
he launched it and took
it onto Dragon's Den -
looking for an investment of $110,00
in return for a share
of 15% of the company.
What he got instead,
was flat out rejection.
But he was not to be put off -
and despite the mauling
he got from the lions -
Tangle Teezer has expanded to more
than 70 countries...
And and is now a business worth
an estimated $270 million.
Astonished by those numbers.
Shaun Pulfrey, founder and inventor
of Tangle Teezer joins us now.
It is so nice to be back on
And we cannot say that your
business is going to be a failure.
We don't have any money to give you.
You proved them wrong. And it's
this, this is one of them, well, one
of the new ones.
The original Tangle
Teezer, that is what I presented to
the Dragons. But this has now been
launched into the pet market.
look similar and they work in the
The principle, yes, why
change something which is successful
already. We had a lot of feedback
from our consumers. Somebody said
that they used it on their pet. I
would have been more concerned in
the early days about that. But I've
been working with dog rumours,
looking at... Working with Battersea
dogs home. Although they look
similar, that's the winning formula,
but the technology is different.
It's dealing with shedding and
detangling. We like to think we
innovate different products that do
Let's get back all of those
years when you invented it. I have a
daughter with really curly hair, I
have two of these. I have been asked
to model this. I shall do it. A
first for me.
It will work.
that they work, I use them at home.
I never use my hairbrush on my
daughter because she would just
scream in pain. What is so special
about it? What makes it work?
based on an idea right had when I
used to do it in the salon. We had
to engage with the hair. But the
instant you start combing you will
get tangles. Two years of backwards
and forwards try to create it. We
came up with the way the Tees
interact and react with hair. In the
past it had to be active, but this
is passive. -- on the way the teeth
into Iraq. The attitude to women was
that a hairbrush was an all-round
thing. That cannot be used with blow
drying. That's why we had brushes
with a handle for that.
You are now
a huge success. What goes through
your mind... People of that business
acumen, they know their stuff and
they say it is destined to fail.
That must take resilience on your
I agree totally. It possibly
wasn't the best pitch. I didn't
convey that I had done a lot of
research and that there was demand.
But I had been working in the
industry since I was 16. I put that
paces in the salon. Even though it
was a private venture. But I put it
through its paces. The feedback I
got was that it would be a success.
When you came out of the failed
pitch, what went through your mind?
Well you determined to make a
success of yourself?
determination was already there.
They didn't destroy it. -- were you
determined. I was always prepared
for rejection. But you cannot reject
what you don't get.
Didn't your website crash after you
had been on TV because 70 people
Good point. I thought, if
the dragons don't get it, there must
be thousands of people at home that
want it. -- because so many people
You have had phenomenal
I have won
You have made a
decision to go into the pet market.
Are you not scared about devaluing
the brand? Why have you made the
More because the brand is
established. We now have a blow
styling finishing tool. In the
industry we have a selection of
tools. The pet one is just on the
detangling one. Time to move on. We
see lots of similar items in the pet
world. They were using a similar
product. We felt confident to go
into the market, particularly in the
UK in the domestic market because it
was so well-established as a brand.
We were asking people this morning.
A quarter of all university students
want to set their own firm. They
don't want to work for anybody else.
If are watching, what are your tips
It sounds good. -- if any
of them are watching. You've got to
have a passion. The friends you
collaborate with at first will soon
be your rivals. It isn't that easy
at first. But I wouldn't change it.
It is also manufactured in Britain,
which I am very proud of.
We've had lots of messages. Alistair
says a record 4.8 million people are
self employed today, do it but with
your eyes open. The median wage was
self-employed is below the average.
Not everybody like Sean is a
Brian says I've just started my own
business in accounting, not the
easiest but it is fantastic that I
can work for myself. Keep your
In a moment we'll take a look
through the Business Pages but first
here's a quick reminder of how
to get in touch with us.
Stay up-to-date with all of the
day's business news as it happens on
the business live page. There is
inside analysis from our team of
editors right around the globe. And
we want to hear from you. Get
involved on the BBC's business life
web page... -- business live web
And you can find us on Facebook...
Business live, on TV and online,
what you need to know. Quarter of
all university students leaving one
to start up their own business. As
we heard from our previous guest it
is easier said than done.
It is. But
there is a lot more support for
young entrepreneurs looking to set
up. If that's an accountancy
service, but also if they are
selling online, selling through
eBay, Amazon... They might be
importing goods from China. Selling
them here, or selling them abroad.
With the Internet you can buy
anything from one place and sell it
in another place.
Ship it off
There are not
barriers for importing.
have to have a premises, warehouse,
things like that, because they're
all of these big websites that will
be able to warehouse everything for
you. Everybody has a side hustle
Let's talk about Apple Music and
spot if -- and Spotify. Apple was
originally the catch-up service, but
they might be taking over.
is a -- this is another story of you
Google, are you Apple?
cannot have a bit from here added it
I recently bought a
Google phone. It is in sync with
everything in the house. I didn't
realise it but everything is Google
in my house, apart from the iPad
which doesn't work any more, so I
need to get rid of it. If you have
an iPad, if you have the new Apple
home speaker service, their version
of Alexa, then the music you are
going to have to listen to is Apple
music. Facebook tied in with
Instagram and it basically killed
It is about the reliance
on the dominance. You cannot be
bothered to get something else to
talk with the other device.
has the information side of thing.
Apple is the entertainment side of
things. Amazon is just buying
everything. It is putting pressure
on companies like Blue Apron. It'll
be interesting to see if people are
cross-border within this market and
saying everything I use for
entertainment is Apple, everything I
work is Google, and everything I
shop is Amazon.
The battery is
taking the bite out of the power
market. Batteries being charged by
When the football
is over and everybody puts the
kettle on. There is a huge surge in
the demand for electricity. There
are certain power stations which
apparently run into action to make
sure the grid doesn't crash. These
new giant batteries are set up
alongside the power grid to make
sure that these are smoothed out.
It's interesting to see we are
becoming more electronic.
technology is so important.
it in the car industry, so why not
our homes, as well? Exactly.
That's it from Business Live today.
There will be more business news
throughout the day on the BBC Live
webpage and on World Business
We'll see you again tomorrow.