0:00:06 > 0:00:07This is Business Live from BBC News with Sally Bundock
0:00:07 > 0:00:08and Jamie Robertson.
0:00:08 > 0:00:09Six more years!
0:00:09 > 0:00:12Vladimir Putin is re-elected as Russia's President.
0:00:12 > 0:00:22Live from London, that's our top story on Monday 19th March.
0:00:32 > 0:00:37President Putin is promising an increase in the standard
0:00:37 > 0:00:39of living and big spending on health, education
0:00:39 > 0:00:41and infrastructure.
0:00:41 > 0:00:43But can he keep his promises?
0:00:43 > 0:00:44We'll get an expert view.
0:00:44 > 0:00:46Also in the programme...
0:00:46 > 0:00:47The boss of Facebook, Mark Zuckerberg,
0:00:47 > 0:00:50faces a backlash over the company's use of data during the US
0:00:50 > 0:00:53presidential election.
0:00:53 > 0:00:58And markets are open and trading in Europe -
0:00:58 > 0:01:00it's another week packed with Central Bank action.
0:01:00 > 0:01:02We'll tell you all you need to know.
0:01:02 > 0:01:05Also in the programme, here's a story to get the heart racing!
0:01:05 > 0:01:08We'll be getting the Inside Track on fighting the flab
0:01:08 > 0:01:11with an entrepreneur in the booming fitness sector.
0:01:11 > 0:01:16And following that story about Facebook, today
0:01:16 > 0:01:18we want to hear your thoughts about how the tech
0:01:18 > 0:01:19giants use your data.
0:01:19 > 0:01:20Let us know.
0:01:20 > 0:01:30Just use the hashtag #BBCBizLive.
0:01:31 > 0:01:39Hello and welcome to Business Live.
0:01:39 > 0:01:42As usual, it's jam-packed. We begin in Russia.
0:01:42 > 0:01:48Vladimir Putin's re-election hands him another six years
0:01:48 > 0:01:50as Russian president and extends his grip on the world's
0:01:50 > 0:01:5312th biggest economy.
0:01:53 > 0:01:56This economy has had a tough time of late.
0:01:56 > 0:01:59As you can see, growth was stronger when Mr Putin came into office
0:01:59 > 0:02:02at the turn of the century - but the economy has suffered
0:02:02 > 0:02:04in recent years as global oil prices fell, with Russia dipping
0:02:04 > 0:02:06in and out of recession.
0:02:06 > 0:02:15Russians have seen living standards fall.
0:02:15 > 0:02:20Look at this sharp drop, which has just disappeared! This is what
0:02:20 > 0:02:21happened when international sanctions were imposed on Russia
0:02:21 > 0:02:27when Russia annexed Crimea.
0:02:27 > 0:02:29The average income is now just over $10,000,
0:02:29 > 0:02:32a third lower than its peak.
0:02:32 > 0:02:35That is a figure from 2016.
0:02:35 > 0:02:37But Mr Putin said he wanted to reverse that gap
0:02:37 > 0:02:38with a 50% rise by 2025.
0:02:38 > 0:02:41President Putin did pledge to spend more on healthcare,
0:02:41 > 0:02:43education and infrastructure including about $194bn on roads
0:02:43 > 0:02:48over the next six years.
0:02:48 > 0:02:53There is some room to spend because government debt
0:02:53 > 0:03:03is relatively low - just 13.2% of the economy in 2016.
0:03:03 > 0:03:05That is something that many around the world would envy.
0:03:05 > 0:03:08Andrew Foxall is director of Russia and Eurasia Studies Centre
0:03:08 > 0:03:15at the Henry Jackson Society.
0:03:15 > 0:03:18It's extraordinary that in a country which has seen declining wealth for
0:03:18 > 0:03:24the average person, to get such a landslide majority. One can say what
0:03:24 > 0:03:28one likes about the election, but on the other hand, he is still very
0:03:28 > 0:03:34popular.He is indeed. It is important to say that President
0:03:34 > 0:03:38Putin's popularity was, during his first two presidential terms between
0:03:38 > 0:03:442000 and 2004 and 2004-2006, very much based on Russia's economic
0:03:44 > 0:03:47performance. As your graphics are suggested, these were the boom years
0:03:47 > 0:03:55based on oil and gas sales of 9% or 10% GDP growth year-on-year.And yet
0:03:55 > 0:03:59the reverse happens, and his popularity goes up!Now his
0:03:59 > 0:04:04popularity is based on Russia's geopolitical status. Since 2014,
0:04:04 > 0:04:10Russia's economy has been stagnating, partly as a result of
0:04:10 > 0:04:13Western sanctions, but also because of a fall in the global price of
0:04:13 > 0:04:18oil. But that stagnation predates the 2014 annexation of Crimea.How
0:04:18 > 0:04:26long can his political popularity be maintained without an upturn in the
0:04:26 > 0:04:34economy? The economy hasn't crashed. It hasn't crashed. It is struggling,
0:04:34 > 0:04:41it's fair to say. GDP growth last year was 1.7%. That compares pretty
0:04:41 > 0:04:48favourably to 2015-2016, when GDP fell by 4%. Many Russians remember
0:04:48 > 0:04:51when the economy was an awful lot worse in the early 1990s, when it
0:04:51 > 0:04:59fell by 40%. So it is all relative. Since President Putin returns to the
0:04:59 > 0:05:05presidency in 2012, he has demonstrated an inability to
0:05:05 > 0:05:11generate any degree of domestic legitimacy in the context of
0:05:11 > 0:05:13economic stagnation without foreign policy achievements. So that might
0:05:13 > 0:05:19be Crimea, it might be Ukraine as a whole, it might be Syria, MIB the
0:05:19 > 0:05:26Fifa 2018 World Cup.So you're saying in order to achieve political
0:05:26 > 0:05:30legitimacy, he has to go outside Russia? He has to continue being
0:05:30 > 0:05:38aggressive to maintain his political superiority at home?Precisely. He
0:05:38 > 0:05:41has political superiority anyway because it is effectively an
0:05:41 > 0:05:46authoritarian state. But he has been unable to generate any legitimacy
0:05:46 > 0:05:48without foreign policy goals, because the economy has been
0:05:48 > 0:05:52stagnating.Andrew, thanks.
0:05:52 > 0:05:55Let's take a look at some of the other stories making the news.
0:05:55 > 0:05:58Melrose Industries has stepped up its fight to snap up UK
0:05:58 > 0:06:02engineering firm GKN, with a promise to pump
0:06:02 > 0:06:06around $1.4 billion into the firm's pension fund.
0:06:06 > 0:06:09The hostile takeover bid by Melrose, worth some $11 billion,
0:06:09 > 0:06:11has attracted opposition from politicians, customers
0:06:11 > 0:06:14and some shareholders.
0:06:14 > 0:06:18Apple is designing and producing its own device displays
0:06:18 > 0:06:20for the first time at a secret plant near its California HQ,
0:06:21 > 0:06:22according to Bloomberg.
0:06:22 > 0:06:24The iPad maker is reported to be making a big
0:06:24 > 0:06:30investment in the development of MicroLED screens,
0:06:30 > 0:06:32which use different technology to the current OLED
0:06:32 > 0:06:37displays, and could replace those made by Samsung.
0:06:37 > 0:06:41The G20 gathering of finance ministers kicks off
0:06:41 > 0:06:47in Buenos Aires against a backdrop of global trade tensions.
0:06:47 > 0:06:49There are concerns over a potential US-China trade rift
0:06:49 > 0:06:56and President Trump's steel and aluminium tariffs.
0:06:56 > 0:07:00Facebook and a US data firm, Cambridge Analytica,
0:07:00 > 0:07:02have been accused of gathering information from 50 million
0:07:02 > 0:07:06profiles without consent.
0:07:06 > 0:07:10Although Facebook has suspended Cambridge Analytica
0:07:10 > 0:07:13from its platform, the social media giant's chief executive,
0:07:13 > 0:07:15Mark Zuckerberg, is facing mounting pressure on both sides
0:07:15 > 0:07:16of the Atlantic.
0:07:16 > 0:07:22Dave Lee reports from Silicon Valley.
0:07:22 > 0:07:28Facebook may be something of a tourist attraction
0:07:28 > 0:07:32here but for many, this place now represents something else.
0:07:32 > 0:07:34The company that has enabled the collection of personal
0:07:34 > 0:07:38data that was then used for political propaganda.
0:07:38 > 0:07:40Its latest problems are because of information allegedly
0:07:40 > 0:07:42obtained by Cambridge Analytica - the firm widely credited
0:07:42 > 0:07:44with helping Donald Trump win the presidency.
0:07:44 > 0:07:46Reports claim details of around 50 million profiles were gathered
0:07:46 > 0:07:48without the users' explicit consent.
0:07:48 > 0:07:53Both Facebook and Cambridge Analytica deny any wrongdoing.
0:07:53 > 0:07:58But now prominent lawmakers are demanding that Facebook's
0:07:58 > 0:08:00founder Mark Zuckerberg address the concerns about his company
0:08:00 > 0:08:05in person and not just through his own Facebook page.
0:08:05 > 0:08:07Mark Zuckerberg needs to testify before the Senate
0:08:07 > 0:08:08judiciary committee, demanded one Democrat,
0:08:08 > 0:08:12who said her office was launching a fresh investigation.
0:08:12 > 0:08:14Former presidential hopeful Marco Rubio had this
0:08:14 > 0:08:22to say on Sunday morning.
0:08:22 > 0:08:26These companies are growing very fast.
0:08:26 > 0:08:28Within the span of less than ten years
0:08:28 > 0:08:31they have gone from being a novel idea to a major corporation.
0:08:31 > 0:08:33And I'm not sure if the sort of institutional knowledge
0:08:33 > 0:08:36about responsibilities both legal and ethical that come with that have
0:08:36 > 0:08:37kept pace with the growth.
0:08:37 > 0:08:40Similar calls have been made in the UK and investors are perhaps
0:08:40 > 0:08:42beginning to show some signs of concern.
0:08:42 > 0:08:45If Mark Zuckerberg hides behind the walls and is not front
0:08:45 > 0:08:48and centre, this has potential to grow into something a lot more
0:08:48 > 0:08:50onerous for the Facebook model.
0:08:50 > 0:08:52So it is trying to get ahead of this storm before it
0:08:53 > 0:08:54turns into a hurricane.
0:08:54 > 0:08:59Facebook became a multi-billion dollar industry because it made
0:08:59 > 0:09:01advertising more effective by knowing more about each
0:09:01 > 0:09:03and every one of us.
0:09:03 > 0:09:05It seems that same innovation has given added power
0:09:05 > 0:09:15to political propoganda as well.
0:09:18 > 0:09:22Are you concerned about what Facebook or any other platform,
0:09:22 > 0:09:26Google, Twitter, Instagram is doing with your data?Are you worried or
0:09:26 > 0:09:33have you got the most incredible privacy settings?Are you worried
0:09:33 > 0:09:37about them reading what you have to say?I just assume what I put out
0:09:37 > 0:09:42there is available to everybody must I don't write much. Do get in touch
0:09:42 > 0:09:45and we were so your comments later.
0:09:45 > 0:09:50There's a new boss in charge of the central bank in the world's
0:09:50 > 0:09:52second largest economy - the People's Bank of China has
0:09:52 > 0:09:54appointed US-educated economist Yi Gang as its next governor.
0:09:54 > 0:09:57Let's go to our Asia business hub in Beijing,
0:09:57 > 0:10:02where Stephen McDonell is following the story.
0:10:02 > 0:10:08We say he is new in the top job, but he has been there quite a while.
0:10:08 > 0:10:12Well, one of the most interesting things about the unexpected
0:10:12 > 0:10:15appointment of Yi Gang to head up China's reserve bank is that we
0:10:15 > 0:10:22don't really know whether it will be him or the newly appointed Vice
0:10:22 > 0:10:26Premier in charge of China's economic policy. The vice president
0:10:26 > 0:10:31is already powerful. He went to Washington in a failed attempt to
0:10:31 > 0:10:36stave off those US steel tariffs, but either way, Yi Gang will be one
0:10:36 > 0:10:39of two people pulling the levers here. He is on the record as saying
0:10:39 > 0:10:43he was to open up the Chinese economy to more foreign investment,
0:10:43 > 0:10:49especially in the finance sector, but his other two headaches will be
0:10:49 > 0:10:53controlling the ballooning debt in this country and working out how to
0:10:53 > 0:10:57deal with the potential trade war with the United States. Whichever
0:10:57 > 0:11:01way you look at it, he has what is probably one of the most important
0:11:01 > 0:11:10jobs in the world.Thank you. So that is one of the central bank
0:11:10 > 0:11:13stories which has kick-started a week that will be dominated by
0:11:13 > 0:11:19central bank news, because as Stephen was saying, Yi Gang has been
0:11:19 > 0:11:23appointed as the head of the People's Bank of China, but we also
0:11:23 > 0:11:27have Jerome Powell's first meeting as governor of the US Federal
0:11:27 > 0:11:31Reserve. That takes place tomorrow and Wednesday. And we have the Bank
0:11:31 > 0:11:34of England, so there is quite a bit going on with central banks. But
0:11:34 > 0:11:40also in terms of how markets did today, you can see that is how
0:11:40 > 0:11:45things ended on Friday. This is Australia and Hong Kong, but it is
0:11:45 > 0:11:49important to note that Japan closed down by almost 1% at the end of
0:11:49 > 0:11:53today's trade. A lot of the losers today our suppliers to Apple. For
0:11:53 > 0:12:02example, Samsung shares were hit. These companies are the companies
0:12:02 > 0:12:06which make the displays for Apple products, the iPhone and the iPad.
0:12:06 > 0:12:11That is huge in terms of revenues, but could be lost if Apple starts to
0:12:11 > 0:12:15make their own screens. Let's look at Europe quickly so you have a
0:12:15 > 0:12:19sense of how the European day is going. I am hoping we will get the
0:12:19 > 0:12:24European numbers. We are trying to change them, but we can't, so I will
0:12:24 > 0:12:32hand over to Jamie. It works over here. The Dax is down
0:12:32 > 0:12:35sharply and the FTSE is down sharply.
0:12:35 > 0:12:38Lawrence Gosling is with me - he's the editor in chief
0:12:38 > 0:12:39of What Investment.
0:12:39 > 0:12:44Let's start with that Apple story. It is because of the ramifications
0:12:44 > 0:12:47for all the other countries. It is great for Apple, presumably, but not
0:12:47 > 0:12:54for the companies supplying Apple. No, and a spot of the tariffs are
0:12:54 > 0:12:58given we are having as well. Some of these companies may be subjected to
0:12:58 > 0:13:01tariffs into the US. So you can see Apple shoring up its production,
0:13:01 > 0:13:06which will increase its margin if it can do it cheaply compared to
0:13:06 > 0:13:09suppliers from Asia.Do you think this has anything to do with the
0:13:09 > 0:13:12environment we are in with President Trump at the helm? If they make
0:13:12 > 0:13:16their dispose in California down the road, it is a lot easier if you have
0:13:16 > 0:13:22tariffs going on.You are spot on. Politically, it looks very good. We
0:13:22 > 0:13:26have seen General Motors doing similar things. Partly, it is to
0:13:26 > 0:13:33curry favour with the presidency.I can understand the emphasis being on
0:13:33 > 0:13:37the big companies and big manufacturing, and that is what
0:13:37 > 0:13:40Trump's home ground is. Whereas the tech companies, I feel they have
0:13:40 > 0:13:46slightly gone their own way.We are in a slightly different environment.
0:13:46 > 0:13:49The tech companies are not the darlings they used to be. People see
0:13:49 > 0:13:55them as being more sinister.Big week for Jerome Powell.A very big
0:13:55 > 0:13:58week for Jerome Powell, the new head of the Federal Reserve in the
0:13:58 > 0:14:03States. We are looking forward to listening to him. The market is
0:14:03 > 0:14:07pretty much priced in a rate rise on Wednesday. This is the first of four
0:14:07 > 0:14:13rate rises this year.That is the prediction, not a given.Never a
0:14:13 > 0:14:17given, but it is the prediction from the markets. Then we have the Bank
0:14:17 > 0:14:19of England, the EU and a new governor in the central Bank of
0:14:19 > 0:14:25China. So if you love central banks, this is a big week.I love them. But
0:14:25 > 0:14:34I am missing Janet.I think she misses you too! On the Russian
0:14:34 > 0:14:41election, any thoughts on that?The Russian stock market hasn't moved
0:14:41 > 0:14:47much in quite a while, ironically. But the economy is where the big
0:14:47 > 0:14:51problem is and President Yeltsin Dr I did say Yeltsin! I am showing my
0:14:51 > 0:14:58age! Mr Putin.You only read about him in history books. That is a
0:14:58 > 0:15:03blast from the past.The economy is back in President Yeltsin's age,
0:15:03 > 0:15:11even though it is President Putin now.
0:15:11 > 0:15:11Still to come.
0:15:11 > 0:15:13Healthy body, healthy mind!
0:15:13 > 0:15:15Later in the programme, we'll be getting the Inside Track
0:15:15 > 0:15:17Still to come.
0:15:17 > 0:15:19on the business of staying in shape!
0:15:19 > 0:15:25You're with Business Live from BBC News.
0:15:25 > 0:15:34Stay with us.
0:15:34 > 0:15:37Travelodge has released full year results today.
0:15:37 > 0:15:39Total revenues grew 6.6% to £637.1 million in the 12
0:15:40 > 0:15:49months to December.
0:15:50 > 0:15:56And it has also announced the expansion plans including something
0:15:56 > 0:15:58called the superbly.
0:15:58 > 0:16:01Joining us now is Peter Gowers, the Chief Executive of Travelodge.
0:16:01 > 0:16:07Huge expansion, you're going to employ a lot more people.Britain is
0:16:07 > 0:16:13becoming a nation of hotel budget travellers. As we have attracted
0:16:13 > 0:16:19more and more people it gives us different kinds of groups to target
0:16:19 > 0:16:24and for some of the longer staying business customers we have
0:16:24 > 0:16:30introduced super rooms.Talk about costs and employees from the EU and
0:16:30 > 0:16:34in particular. Something like 30% come from the EU. Is that a problem
0:16:34 > 0:16:41for you?Well there are no real cost pressures right now, the national
0:16:41 > 0:16:46living wage, the apprenticeship levy, these are bigger things but
0:16:46 > 0:16:50medium-term Brexit is a factor. We are taking measures now to try to
0:16:50 > 0:16:56protect ourselves against a shortfall of Labour post Brexit.
0:16:56 > 0:16:59Supporting staff to apply for residency if they are already here
0:16:59 > 0:17:04and widening up apprenticeship schemes. Also attracting back
0:17:04 > 0:17:09working parents.You say in the UK that we are seeing a build in the
0:17:09 > 0:17:15budget hotel industry. How long do you think that this will continue,
0:17:15 > 0:17:19what is your long-term forecast for Travelodge?Today in the UK roughly
0:17:19 > 0:17:24one in five hotels is a budget hotel for the friends it is one in four
0:17:24 > 0:17:29hotels and one in three in the United States. So plenty of room for
0:17:29 > 0:17:32expansion. We hope to open 100 hotels in the next five years so
0:17:32 > 0:17:39future expansion plans focused very much on the UK.Thank you very much
0:17:39 > 0:17:47indeed. Those results announced today. One interesting story on the
0:17:47 > 0:17:54business page, betting machine wages are to be cut to £30 alas, that is
0:17:54 > 0:17:57the maximum amount you will be able to bet on these fixed odds betting
0:17:57 > 0:18:04terminals. By some thought it would come down from £100 down to just £2
0:18:04 > 0:18:12but it is £30 so somebody for the bookmakers for top that some relief
0:18:12 > 0:18:13for the bookmakers.
0:18:13 > 0:18:17You're watching Business Live - our top story.
0:18:17 > 0:18:21Vladimir Putin has won the presidential election in Russia. So
0:18:21 > 0:18:28he is in charge for another six years. He received more than 76% of
0:18:28 > 0:18:32votes in the election on Sunday. He served as either president or Prime
0:18:32 > 0:18:35Minister since 1999 now.
0:18:35 > 0:18:38Many of us want to be healthier - and increasingly there are services
0:18:38 > 0:18:39to help us achieve that goal.
0:18:39 > 0:18:42The fitness industry in the UK was estimated to be worth
0:18:42 > 0:18:47$6.5 billion last year - up 6% from a year earlier.
0:18:47 > 0:18:50And that's just for people who go to the gym.
0:18:50 > 0:18:53But if you're short on time you can download e-guides to give
0:18:53 > 0:18:58you a bit of support.
0:18:58 > 0:19:04London Muscle has sold 130,000 of these guides since 2013.
0:19:04 > 0:19:05And the company also dabbles in clothing,
0:19:05 > 0:19:07a supplements range, and last year they launched
0:19:07 > 0:19:11a fresh food delivery arm.
0:19:11 > 0:19:18Tom Exton, co-founder of London Muscle is here.
0:19:18 > 0:19:28Welcome to the programme. And that was used in that video behind us. --
0:19:28 > 0:19:35that was you. Just tell us about how this started. Clearly you are
0:19:35 > 0:19:39someone who is really into this, in the gym and busy trying to get
0:19:39 > 0:19:46fitter.It began as a hobby back in 2012, myself and my twin brother and
0:19:46 > 0:19:51some other browsers as well used to be in the gym all the time. And we
0:19:51 > 0:19:55thought that we would set up a website just as a hobby. And it just
0:19:55 > 0:20:02spiralled from there. We did not really need to start a business.You
0:20:02 > 0:20:07have grown pretty fast. I find this extraordinary. It must've been a
0:20:07 > 0:20:12very competitive market. No one is going to say to you that is a great
0:20:12 > 0:20:16idea because everyone would have the same idea about doing fitness video
0:20:16 > 0:20:21on YouTube. What makes you different? And getting this
0:20:21 > 0:20:26particular growth.I think when we started we capitalised on the growth
0:20:26 > 0:20:31of twitter back in 2012 and then is to grant came along and we really
0:20:31 > 0:20:36utilise social media. And then fitness became more and more popular
0:20:36 > 0:20:45and social media. We just advertise our website articles on twitter, we
0:20:45 > 0:20:51put on recipes, workouts and answer questions as well.Most of the
0:20:51 > 0:20:58people who download your health adviser by, do they also go to the
0:20:58 > 0:21:04gym, do you know that kind of information?Or maybe just at home.
0:21:04 > 0:21:07Well the guides have been gym -based but recently we have introduced home
0:21:07 > 0:21:13work-out alternatives as well so people can train anywhere they like.
0:21:13 > 0:21:19So you could do them at home as well. The downloads, you pay to
0:21:19 > 0:21:26download them. The current guides, it depends how long, you can choose
0:21:26 > 0:21:35up to about 20 weeks. That is in the region of £60, £80. And basically it
0:21:35 > 0:21:41is like having a personal trainer for about 20 weeks.A personal
0:21:41 > 0:21:54trainer, and give me an idea of what you get.They will tell you when to
0:21:54 > 0:22:00work-out, what to do, repetitions, tempo, what movement to do. What and
0:22:00 > 0:22:07when to eat. But within a flexible structure. I could go on and on.
0:22:07 > 0:22:13Just one quick answer, what stops people giving up after one year of
0:22:13 > 0:22:18doing this because that is the problem, but people give up.It is
0:22:18 > 0:22:24motivation all the time and there is an online community, lots of people
0:22:24 > 0:22:29doing the same thing and people sending in their results. You can
0:22:29 > 0:22:31see a letter from down the road has got amazing results. It is kind of
0:22:31 > 0:22:40peer pressure if you like.Thank you for coming in, really interesting.
0:22:40 > 0:22:46This is how to stay in touch. We will see in a moment. Stay
0:22:46 > 0:22:53up-to-date with all the business news as it happens. And we want to
0:22:53 > 0:23:04hear from you. Get involved on the BBC business life web page.
0:23:18 > 0:23:20Lawrence Gosling has returned and we have been looking at this Facebook
0:23:20 > 0:23:26story. This is extremely interesting because it has been the concern
0:23:26 > 0:23:32about these organisations that are now huge, 2 billion active monthly
0:23:32 > 0:23:37users around the world.Absolutely and a piece of legislation is coming
0:23:37 > 0:23:41in, the general data protection regulations and this falls into
0:23:41 > 0:23:46this. How these companies use data and how and if we have given them
0:23:46 > 0:23:52permission. This is Europe wide. And there was a harsh penalty, 4% of the
0:23:52 > 0:23:57company turnover. So for Facebook that could be the story. It is about
0:23:57 > 0:24:03how we and our data over to them and how they then use it.This is a
0:24:03 > 0:24:09political story, or is it business or both? Where do you think it will
0:24:09 > 0:24:15have the maximum impact, politically or in terms of business.I think
0:24:15 > 0:24:20largely it is a political story but we could see the Facebook share
0:24:20 > 0:24:28price drop later. But really here in the UK we are driving away the
0:24:28 > 0:24:34story, and you can see the kind of power of the MPs on this.I tell you
0:24:34 > 0:24:40what strikes me about this story, the idea, how little we as
0:24:40 > 0:24:45individuals feel affected by this because who would say I feel I have
0:24:45 > 0:24:52been manipulated by these people. No one feels that, they do not feel it
0:24:52 > 0:24:57is a personal affront to their abilities.I think it depends what
0:24:57 > 0:25:03the information was, and it could affect future decisions for example
0:25:03 > 0:25:08medical insurance and your data has been passed on to other companies.
0:25:08 > 0:25:14But we must state both Facebook and Cambridge and Alaska are denying any
0:25:14 > 0:25:23wrongdoing at all in this case. - Cambridge Analytica.Exactly and I
0:25:23 > 0:25:27think we feel upset as consumers is suddenly someone tries to take
0:25:27 > 0:25:30something from us but in this case there was no suggestion that
0:25:30 > 0:25:34anything like that could happen. Couple of messages, one saying they
0:25:34 > 0:25:41need to be made far more accountable. Another saying I came
0:25:41 > 0:25:53off Facebook, best thing I ever did. Thank you for coming in and thank
0:25:53 > 0:25:55you for your company. We are back at the same time tomorrow. We will see
0:25:55 > 0:25:59you then. Goodbye.