0:00:05 > 0:00:07This is Business Live from BBC News with Jamie
0:00:07 > 0:00:08Robertson and David Eades.
0:00:08 > 0:00:11Trading threats - raising tensions.
0:00:11 > 0:00:15Fears of a global trade war set to dominate as G20 finance chiefs
0:00:15 > 0:00:16gather this weekend.
0:00:16 > 0:00:17Live from London, that's our top story
0:00:17 > 0:00:22on Friday the 16th of March.
0:00:36 > 0:00:41With jobs and trade on the line, the United States
0:00:41 > 0:00:44is demanding more from its biggest partners so will they hit back
0:00:44 > 0:00:45with action of their own?
0:00:45 > 0:00:49Also in the programme...
0:00:49 > 0:00:51Singapore-based chipmaker Broadcom hints it will look to buy smaller
0:00:51 > 0:01:01rivals after President Trump blocked its $140 billion deal for Qualcomm.
0:01:02 > 0:01:07The market is starting down but not a huge amount of change. Less than a
0:01:07 > 0:01:1210% movement on the European markets as they open today.
0:01:12 > 0:01:14And we'll be getting the inside track on the business
0:01:14 > 0:01:17impact of those growing tensions between Russia and the UK and all
0:01:17 > 0:01:21the other big stories of the week with our Business Editor Simon Jack.
0:01:21 > 0:01:27And we begin our Future Of Work series with a look at commuting
0:01:27 > 0:01:30so we want to know what unusual journeys to work you have.
0:01:30 > 0:01:31Just use the hashtag BBCBizLive.
0:01:38 > 0:01:41Hello and welcome to Business Live.
0:01:41 > 0:01:49Tensions are growing over global trade.
0:01:49 > 0:01:51As President Trump continues to protect US industry there have
0:01:51 > 0:01:53been threats of retaliation from around the world -
0:01:53 > 0:01:56raising fears of a trade war that could seriously damage
0:01:56 > 0:01:58the global economy.
0:01:58 > 0:02:02People putting up tariffs to protect their own industries against others
0:02:02 > 0:02:04around the world.
0:02:04 > 0:02:07The issue will top the agenda when finance chiefs from the world's
0:02:07 > 0:02:08biggest economies meet in the Argentine capital
0:02:09 > 0:02:13Buenos Aires this weekend.
0:02:13 > 0:02:15This week the Trump administration raised
0:02:15 > 0:02:17the temperature with China again - demanding a $100 billion
0:02:17 > 0:02:19cut in Beijing's trade surplus with the US.
0:02:19 > 0:02:22It also turned its attention to India,
0:02:22 > 0:02:25complaining to the World Trade Organisation about export subsidies
0:02:25 > 0:02:29to Indian exporters worth an estimated $7 billion a year.
0:02:29 > 0:02:32That's what he reckons, anyway.
0:02:32 > 0:02:35And there's just a week to go until US tariffs of 25%
0:02:35 > 0:02:37on imported steel and 10% on imported aluminium
0:02:37 > 0:02:40come into force.
0:02:40 > 0:02:42Many countries are seeking exemptions to stop any
0:02:42 > 0:02:45damage to their economies.
0:02:45 > 0:02:52Since they were first announced at the beginning of the month,
0:02:52 > 0:02:55global stock markets have been confused as investors try to assess
0:02:55 > 0:02:58the potential damage as the European Union and others
0:02:58 > 0:03:01threaten to retaliate against those US tariffs.
0:03:01 > 0:03:03Chris Watling is the Chief Executive of the global
0:03:03 > 0:03:09consultancy Longview Economics.
0:03:09 > 0:03:13Thanks for joining us. Just to get the short for you first. We have a
0:03:13 > 0:03:17raft of demands from Donald Trump, but it's all coming to a head.
0:03:17 > 0:03:25What's going to happen, two days to sort it out.It's classic trumpet,
0:03:25 > 0:03:29go in hard and aggressive, make a lot of noise and shake things up and
0:03:29 > 0:03:32see how things fall, and hopefully go from there and end up with
0:03:32 > 0:03:36something fairly sensible. We have seen this several times in his
0:03:36 > 0:03:45presidency in the last year or so, whether it was Tpp on many of these
0:03:45 > 0:03:51deals. He goes in hard and then pulls back and see what happens.
0:03:51 > 0:03:57With China, would you expect some movement from them? This sort of
0:03:57 > 0:04:00technique has some effect.It does have some effect. We saw some
0:04:00 > 0:04:04movement from Japan when he raised it with Japan several months ago.
0:04:04 > 0:04:07Whether or not we'll get movement with China who knows, only the
0:04:07 > 0:04:12Chinese leadership will know. The problem I think is misdiagnosed by
0:04:12 > 0:04:16the administration. It's not simply a case of, we have a $100 billion
0:04:16 > 0:04:20deficit, you are clearly doing better than we are. It's a
0:04:20 > 0:04:29reflection of overconsumption in the US and under saving, essentially.
0:04:29 > 0:04:32When the shouting stops and it dies down, will he get anything out of
0:04:32 > 0:04:34it? What are his targets? Is there anything specific, there is more to
0:04:34 > 0:04:40him than just making a noise.There is more, his place in the political
0:04:40 > 0:04:44constituency, old economy, a lot of it in the midwest. There is
0:04:44 > 0:04:48something in this. There are unfair trade practices in the world and the
0:04:48 > 0:04:59WTO does not have a much bite as one would hope. China has all sorts of
0:04:59 > 0:05:01industries, there is too much steel capacity in the world and part of
0:05:01 > 0:05:04that is because China keeps businesses that are basically
0:05:04 > 0:05:07loss-making going through the government stimulus and back door
0:05:07 > 0:05:11credit programmes. There is something to what he says, but I
0:05:11 > 0:05:14think it misses the main point about the trade deficits and
0:05:14 > 0:05:20overconsumption.When it all dies down, whatever happens here, if
0:05:20 > 0:05:25there is give and take, it has a ripple effect. It's not just
0:05:25 > 0:05:29necessarily a one-off, we are done and move on.It's a risky business.
0:05:29 > 0:05:34You are clearly upsetting the global consensus. Growing global trade is a
0:05:34 > 0:05:37good thing, falling tariffs is a good thing. All that stuff is very
0:05:37 > 0:05:44powerful. We saw in the 1930s, rising tariffs was a dangerous
0:05:44 > 0:05:47approach to global growth. It's not a great way to go about things, but
0:05:47 > 0:05:50it is Donald Trump and hopefully it will follow the usual pattern and
0:05:50 > 0:05:54calm down.We will see, Chris, thank you very much.
0:05:54 > 0:05:57Let's take a look at some of the other
0:05:57 > 0:05:58stories making the news...
0:05:58 > 0:06:01A committee of British MPs say they have been unable to find
0:06:01 > 0:06:03a technical solution anywhere in the world that would be capable
0:06:03 > 0:06:05of avoiding a hard border between Northern Ireland
0:06:05 > 0:06:07and the Irish Republic after Brexit.
0:06:07 > 0:06:08The Northern Ireland Affairs Committee has called
0:06:08 > 0:06:11on the government to set out more details on how it will manage
0:06:11 > 0:06:15the movement of people and goods across the border.
0:06:15 > 0:06:18The Swedish music streaming giant Spotify says it
0:06:18 > 0:06:20will start selling its shares on the New York Stock
0:06:20 > 0:06:23Exchange on April 3rd.
0:06:23 > 0:06:28In a pitch to investors the company's boss Daniel Ek said
0:06:28 > 0:06:30he would put growth over profits to try and fend off competition
0:06:31 > 0:06:32from the likes of Amazon and Apple.
0:06:32 > 0:06:35More than half of Spotify customers use the free services and the firm
0:06:35 > 0:06:39has yet to make a profit.
0:06:39 > 0:06:43Deutsche Bank says it does not expect to cut costs by $1.1 billion
0:06:43 > 0:06:45in 2018 as previously announced.
0:06:45 > 0:06:48However, Germany's biggest lender is forecasting
0:06:48 > 0:06:50an increase in revenues, with banker bonuses returning
0:06:50 > 0:06:55to levels not seen since 2015.
0:06:58 > 0:07:06Profits are up at Singapore-based computer chip
0:07:06 > 0:07:09maker Broadcom which has been outlining it's plan for the future.
0:07:09 > 0:07:12This week it formally abandoned a $142 billion
0:07:12 > 0:07:14attempt to buy its US rival Qualcomm after President Trump
0:07:14 > 0:07:16blocked the deal.
0:07:16 > 0:07:19Mariko Oi is in Singapore with more details.
0:07:19 > 0:07:22Interestingly, in the conference call with investors,
0:07:22 > 0:07:25the company's chief executive didn't really comment about that block
0:07:25 > 0:07:29deal by President Trump, who cited national security concerns
0:07:29 > 0:07:33to which the company said there shouldn't be any concerns.
0:07:33 > 0:07:37But he also said that the company continues to look at the US
0:07:37 > 0:07:45as a potential market, prompting speculation that broad,
0:07:45 > 0:07:47as a potential market, prompting speculation that Broadcom
0:07:47 > 0:07:49might be looking at smaller, probably lower profile targets
0:07:49 > 0:07:51in the market as well.
0:07:51 > 0:07:53In terms of the earnings number, they came in stronger
0:07:53 > 0:07:55than analysts expected, but the company warned
0:07:55 > 0:07:57that they are seeing a slowing demand from its US customer,
0:07:57 > 0:07:59which many analysts believe is Apple, but growing
0:07:59 > 0:08:01demand from South Korea.
0:08:01 > 0:08:04Again, analysts are speculating that's probably Samsung,
0:08:04 > 0:08:13which is ramping up its production of the latest Galaxy smartphones.
0:08:13 > 0:08:25We can look at the Asian markets. Trade and the G20 meeting this
0:08:25 > 0:08:31weekend in South America. What will happen in terms of protectionism and
0:08:31 > 0:08:36the amount of tariffs that will be put on over steel and aluminium. A
0:08:36 > 0:08:43slightly confused message there but we have the Dow Jones up about 0.5%.
0:08:43 > 0:08:49Asia is a little bit worried, it's down. Europe, pretty inconclusive,
0:08:49 > 0:08:50up a tiny fraction.
0:08:50 > 0:08:52And Kim Gittleson has the details about what's ahead
0:08:52 > 0:08:54on Wall Street Today.
0:08:54 > 0:08:56On Friday, investors will be eyeing a raft of economic data to better
0:08:56 > 0:09:01gauge what the US Federal Reserve will do when it meets next week.
0:09:01 > 0:09:05Housing data released by the Census Bureau is expected
0:09:05 > 0:09:07to show that new construction slowed in February, partially
0:09:07 > 0:09:10as a result of poor weather here in the north-east.
0:09:10 > 0:09:14Two key measures of US manufacturing activity will also be released.
0:09:14 > 0:09:18A miss in any of these figures could worry America's central bankers,
0:09:18 > 0:09:21especially after retail sales and inflation data came in lower
0:09:21 > 0:09:24than expected this week.
0:09:24 > 0:09:27The expectation is that the Fed will continue to slowly
0:09:27 > 0:09:29raise US interest rates.
0:09:29 > 0:09:32But in order to do that, it will need the American economy
0:09:32 > 0:09:37to be growing at a healthy pace.
0:09:37 > 0:09:38Joining us is Simon Derrick, Chief Markets Strategist,
0:09:38 > 0:09:42Bank of New York Mellon.
0:09:42 > 0:09:48In terms of occurrences, we have this trade war, a great euphemism,
0:09:48 > 0:09:55for general chaos in the trade sphere. What effect is it having on
0:09:55 > 0:09:59currencies generally? I'm thinking about the three main ones.I think
0:09:59 > 0:10:04the one that is really starting to emerge as being a beneficiary for
0:10:04 > 0:10:09this has been the Japanese yen. Maybe because a little bit it is a
0:10:09 > 0:10:13safe haven, but it's worth noting over the last 40 years, one of the
0:10:13 > 0:10:17trade policy has come up as an issue in the US, more often than not it
0:10:17 > 0:10:20has also focused on people manipulating the currencies and
0:10:20 > 0:10:25Japan has come up time and time again, more often than not, the
0:10:25 > 0:10:29pressure has been upward on the yen because that is the easiest way of
0:10:29 > 0:10:33fending off concerns from the US. The stronger currency makes the
0:10:33 > 0:10:39trade situation better.Down on the dollar.That's the main story. In
0:10:39 > 0:10:42fairness, playing out against the Asian currencies. Stirling and
0:10:42 > 0:10:48Europe are pretty much sidelined the moment.We talked about the
0:10:48 > 0:10:52Australian dollar and its impact potentially on smaller currencies.
0:10:52 > 0:10:56That's the one currency that really has been under pressure over the
0:10:56 > 0:10:59last few weeks. Most obviously because Canada is the largest
0:10:59 > 0:11:06exporter of steel to the United States, so if you are looking to
0:11:06 > 0:11:10currencies heading in different directions at the same time, the yen
0:11:10 > 0:11:14and Canadian dollar are eight right now.Something many people don't
0:11:14 > 0:11:17follow, unless they are in the market and following day today is
0:11:17 > 0:11:21the weakness of the dollar and how it has weakened over the last year.
0:11:21 > 0:11:27It's getting on 15% or something. Will that continue?I think it will.
0:11:27 > 0:11:31What's interesting is that it has broken the relationship with yield
0:11:31 > 0:11:34because relatively speaking interest rates are going up in the United
0:11:34 > 0:11:39States, which is normally good for a currency. Instead people are focused
0:11:39 > 0:11:42on two things, first of all, the administration seems to be less
0:11:42 > 0:11:46supportive about the dollar in the rhetoric.He doesn't talk about
0:11:46 > 0:11:51stronger dollar any more.And people are talking about increased spending
0:11:51 > 0:11:55plans and where the money comes from. One of the main areas it comes
0:11:55 > 0:12:00from in the past is the far East, people like China. Maybe if China is
0:12:00 > 0:12:03allowing its currency to move more freely, there is less money coming
0:12:03 > 0:12:07in to be recycled to the US is about looking ahead to next week, the Fed
0:12:07 > 0:12:13has a decision to make. Interest rates up? Definitely next week. What
0:12:13 > 0:12:18will matter will be the rhetoric and how concerned they are about
0:12:18 > 0:12:27inflation and what happens with trade.
0:12:27 > 0:12:30Still to come...
0:12:30 > 0:12:35We'll have all the implications of the UK and Russia trade and more
0:12:35 > 0:12:37from Simon Jack, business editor.
0:12:37 > 0:12:40You're with Business Live from BBC News.
0:12:40 > 0:12:43JD Wetherspoon has reported pre-tax profits of £54m for the six months
0:12:43 > 0:12:46to 28th January - up 36% on the same period
0:12:46 > 0:12:50in the previous year.
0:12:50 > 0:12:52Joining us now from London Stock Exchange
0:12:52 > 0:12:58is Tim Martin, the founder and chairman of JD Wetherspoon.
0:12:58 > 0:13:02Thanks for joining us. These are not easy times for the casual dining
0:13:02 > 0:13:11market. Give us your secret.It's hard to know, really. It's a
0:13:11 > 0:13:15thousand components of a BMW, you work on different components all the
0:13:15 > 0:13:18time and you eventually come up with a good car. We have been going a
0:13:18 > 0:13:23long time, we sell a lot of things that have been unfashionable over
0:13:23 > 0:13:28the years, like real ale, which is doing very well for us. We are now
0:13:28 > 0:13:31selling quite a bit of draught beer, which is at the trendy end of the
0:13:31 > 0:13:36market. Over the years we have moved into breakfast and coffee which do
0:13:36 > 0:13:43very well. Coffee is particularly going great guns at the moment.What
0:13:43 > 0:13:48about your costs, the weak pound, food costs going up, and business
0:13:48 > 0:13:53rates going up next month. You have the national living wage, which is
0:13:53 > 0:13:57putting upward pressure on wages. Will you be able to keep costs under
0:13:57 > 0:14:02control to the point where you can still increase profit?Can we keep
0:14:02 > 0:14:05them under control when it comes to the things that you mention, the
0:14:05 > 0:14:11answer is no. What we can try and do is make sure we are running the
0:14:11 > 0:14:17business well, everyone else has got the same costs. If we can get all
0:14:17 > 0:14:21the different components running better, we will be able to sell
0:14:21 > 0:14:25people a pint at a reasonable price with a good atmosphere. It's
0:14:25 > 0:14:29difficult enough. The main sword of Damocles for the pub industry is
0:14:29 > 0:14:36that it pays much higher taxes per pint or per meal than supermarkets.
0:14:36 > 0:14:41That disparity has increased over the years. Eventually, when things
0:14:41 > 0:14:45settle down and people have a chance to look at it, we have to say, do we
0:14:45 > 0:14:50want pubs and restaurants, particularly in small towns and
0:14:50 > 0:14:54unfashionable suburbs. If the answer is yes, then you have to equalise
0:14:54 > 0:14:59tax.Tim Martin, we wanted to talk about Brexit, but we are running out
0:14:59 > 0:15:03of time. I'm sure you would have lots to say about that, but we will
0:15:03 > 0:15:08save it for another day. I'm sure he might be relieved, or maybe not!
0:15:38 > 0:15:46A quick look at how markets are faring.
0:15:47 > 0:15:50There is not much happening on this Friday morning but coming off the
0:15:50 > 0:15:55back of an unsettled week with Asian markets waiting to see what's going
0:15:55 > 0:15:59to emerge from these trade tensions as they mount, courtesy in large
0:15:59 > 0:16:04part to President Trump of course. We will talk more about lead the
0:16:04 > 0:16:09second because we have Simon Jack here and a round-up of all the
0:16:09 > 0:16:13stories.
0:16:13 > 0:16:15Russia says its expelling British diplomats following the poisoning
0:16:15 > 0:16:18of a spy on British soil but there's less impact on trade
0:16:18 > 0:16:21ties and global trade tensions on the rise.
0:16:21 > 0:16:26Let's talk to Simon. Let's talk first about global trade, is there
0:16:26 > 0:16:32going to be a trade war? People increasing tariffs and the rest of
0:16:32 > 0:16:36it?There's been widespread condemnation of the steel tariffs
0:16:36 > 0:16:40and we will see how other countries respond to that so that is the big
0:16:40 > 0:16:49worry. Much more so than the Russian tensions. At the moment we have the
0:16:49 > 0:17:00US which pulled out of the TTP, and many voices in the US are saying
0:17:00 > 0:17:03that as we withdraw and put up barriers we are losing influence in
0:17:03 > 0:17:08areas where we had a lot of it, for example in the Pacific area, we used
0:17:08 > 0:17:14to have a big military presence, that tilts away, meanwhile China is
0:17:14 > 0:17:17expanding into those areas. So you have got the most developed economy
0:17:17 > 0:17:22in the world turning away from global trade at a time when everyone
0:17:22 > 0:17:29else is trying to get together. That could reduce long-term US influence
0:17:29 > 0:17:35and allow China to get a march on that. You have the rest of the world
0:17:35 > 0:17:38coming together, promoting trade, globalisation, the world economy is
0:17:38 > 0:17:43doing well, the fly in the ointment is the approach of the US.An
0:17:43 > 0:17:47interesting angle on that, we were saying on this programme a week ago
0:17:47 > 0:17:51that it is not that surprising China is the champion of free trade at the
0:17:51 > 0:17:56moment because the dominant economy in the world is always in favour of
0:17:56 > 0:18:05free trade. You go back historically into the 19th century, Britain
0:18:05 > 0:18:08getting rid of the Corn Laws. Then is America became dominant it
0:18:08 > 0:18:11promoted free trade, now China is coming up and it too will promote
0:18:11 > 0:18:19free trade.That is not quite the dominant economy, but it is coming
0:18:19 > 0:18:25soon.This is one of the symptoms of it.One other thing you are seeing,
0:18:25 > 0:18:29this is being looked at through the lens of Brexit, with the UK going
0:18:29 > 0:18:34its own way. The Government are saying we are not leaving Europe,
0:18:34 > 0:18:42just the European Union but you have these tensions there.Let's move on,
0:18:42 > 0:18:45we have the tensions between Russia and the UK and we have heard Sergey
0:18:45 > 0:18:49Lavrov the Foreign Minister saying for sure our response is coming so
0:18:49 > 0:18:54we are waiting for that but there is still this reticence about
0:18:54 > 0:18:57economically biting...I thought the economically biting...I thought the
0:18:57 > 0:19:00Prime Minister got a lot of plaudits for the way she dealt with this this
0:19:00 > 0:19:08week, the expulsion of huge amount of diplomats, we are expecting tit
0:19:08 > 0:19:12for tat. But the word business didn't come into her speech at all
0:19:12 > 0:19:17and in fact there were words of comfort for the Russians who have
0:19:17 > 0:19:22come and made their home in the UK. You think about Roman Abramovich who
0:19:22 > 0:19:35owns Chelsea, and of course the big one, BP, aren't they already have...
0:19:35 > 0:19:42Have we been dancing with the Devil? Bob Dudley sits on a board chaired
0:19:42 > 0:19:52by close Putin friend Igor Sechin and at some point he has to walk out
0:19:52 > 0:19:57of the room in case there is anything pertaining to him
0:19:57 > 0:20:01personally! I don't think there was anything in the list of sanctions we
0:20:01 > 0:20:06saw that apply additional pressure to the business relationships. They
0:20:06 > 0:20:13said we don't want your spies or assassins but we want to keep doing
0:20:13 > 0:20:28business with you.And the Royal -- the rollback for banks?Yes, in
0:20:28 > 0:20:36doing this you are swept up in the bid to make the to big banks safer,
0:20:36 > 0:20:39you've also swept up lots of community banks and made it hard for
0:20:39 > 0:20:44them to do their job which is to lend to communities. There is a bill
0:20:44 > 0:20:47passed in the Senate to roll back some of these regulations, it has
0:20:47 > 0:20:55got to go through the house and is deeply dividing the Democrats. We
0:20:55 > 0:20:59are sowing the seeds of another financial crisis, some are saying,
0:20:59 > 0:21:03but others are saying we have constrained the banking system
0:21:03 > 0:21:08unnecessarily at a local and smaller level and this is a good thing for
0:21:08 > 0:21:13the US economy.Simon, thanks so much.
0:21:13 > 0:21:16Now it's time for the first in our series about the Future of Work.
0:21:16 > 0:21:19For many of us, the daily commute can be a combination of unreliable
0:21:19 > 0:21:22trains and overcrowded buses.
0:21:22 > 0:21:26But advances in technology, automation and artificial
0:21:26 > 0:21:29intelligence are set to change the way we travel to work
0:21:29 > 0:21:37as Rico Hizon has been finding out in Singapore.
0:21:37 > 0:21:42People have long dreams of taking a jet pack or flying car to work and
0:21:42 > 0:21:48that reality is closer than most of you think. One man passenger drones
0:21:48 > 0:21:53are being tested but widespread use is yet to come. For now
0:21:53 > 0:21:57battery-powered electric vehicles are moving people in new ways. For
0:21:57 > 0:22:07many commuters, this is the last mile solution. When their office is
0:22:07 > 0:22:13there and the train only takes them here so how does it work?It is a
0:22:13 > 0:22:17battery operated Scooter, where you can actually use an app to activate
0:22:17 > 0:22:23it. We see the huge popular demand in other places we have launched,
0:22:23 > 0:22:31especially places where they need connection to their offices or
0:22:31 > 0:22:38schools from the station.Jet packs were only used by the likes of James
0:22:38 > 0:22:43Bond, but a number of companies are turning science fiction into science
0:22:43 > 0:22:47fact.We can get into really exploring the dream and the idea,
0:22:47 > 0:22:51the concept and the science behind true human flight and achieve a lot
0:22:51 > 0:22:56of those things that people have been dreaming about for a long time.
0:22:56 > 0:23:02Jet packs may not be for commuting just yet but the way we get to work
0:23:02 > 0:23:14is constantly changing and will be vastly different in the future.
0:23:15 > 0:23:24Simon Derrick is back with us, and you like the hover board. It's all
0:23:24 > 0:23:28right when you get one person doing it, it is when you get thousands
0:23:28 > 0:23:40going down Oxford Street! But have a look at the papers. This is the rush
0:23:40 > 0:23:43investigation and they are going after the Trump organisation now
0:23:43 > 0:23:52closer and closer...Obviously we don't know how this plays out so we
0:23:52 > 0:23:56cannot comment too much about how it goes but I think what matters is how
0:23:56 > 0:24:00markets react to these kind of stories. People forget what matters
0:24:00 > 0:24:07over time. People seem to think politics is a big issue but it's
0:24:07 > 0:24:17never proved a market mover in Germany. In the US absolutely it has
0:24:17 > 0:24:26been a market mover. Think back to Watergate in 1973, a cause of major
0:24:26 > 0:24:30market volatility so this story, talking about concerns within the
0:24:30 > 0:24:35White House, that could potentially be an issue.Would you expect flight
0:24:35 > 0:24:40away from US assets if political things get hot in the states?If we
0:24:40 > 0:24:48go back and look at the past three events, they were dollar negative.
0:24:48 > 0:24:54But not necessarily globally? Noakes.Shall we go for your
0:24:54 > 0:24:58favourite story of the day, the scientists who planted a noble card
0:24:58 > 0:25:08in his hand to make it easier to use the Sydney underground -- an Opal
0:25:08 > 0:25:17card.He puts the card under his skin.The big he got done for was
0:25:17 > 0:25:22mutilating his card, which is the best bit of all of it! He calls
0:25:22 > 0:25:28himself a body hacking scientist. There are lots of them around, I'm
0:25:28 > 0:25:36told.If I put my travel card for London inside my glove, is that
0:25:36 > 0:25:44low-level body hacking? Most important, the gentleman changed his
0:25:44 > 0:25:52name... Does he signed it on all his checks?He wouldn't have a I doubt.
0:25:52 > 0:26:00I wonder if we have this, body hacking. Click has it all over the
0:26:00 > 0:26:04weekend! Simon,