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tv   BBC Business Live  BBC News  February 14, 2018 8:30am-9:00am GMT

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this is business live from bbc news with ben thompson and samantha simmonds. a brexit blackhole for europe. how will the eu plug a $15 billion shortfall when the uk leaves the union? live from london, that's our top story on wednesday 14th february. brexit will leave the eu with a big gap in its budget — there could be cuts to spending and other members will be asked to pay more. we will hear from the sky shortly. —— this guy shortly. also in the programme: is the premier league losing its star appeal? the cost of broadcast rights falls for the top flight of english football — we'll look at why. and all eyes are on the latest inflation figures from the us, they're due later.
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and after the roller coaster market reaction to the jobs figures — investors are on edge. and clocking up the airmiles — we meet the man who says he can tell you how to fly first class, without paying a penny. let us know, use the eeeeeee: eet eje ese: , , , . lots of you getting in touch already about that story. keep your comments coming in about those voice—activated devices and whether they are a benefit orjust a frustration. mine ignores me quite often. we will talk more about that a little bit later. in a few hours‘ time, the president
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of the european commission — jean claude juncker — will outline his proposals for the future eu budget. he'll be working on the basis that the uk will be leaving the union and this will deprive the eu of between 12 and 13 billion euros every year — that's around 15 to $16 billion. currently, 1% of the bloc‘s gross national income goes towards the budget, but mrjuncker has already called for members to contribute more when the uk departs. in addition, the eu's budget commissioner has already said that the union will need to make spending cuts across the board — this includes a modest scaling back of the common agricultural policy. joining us now from brussels is guntram wolff — director of the european think tank bruegel. thank you forjoining us. which countries will have to fill this enormous black hole? that, the holed is 12 billion. of course, part of
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the hole will be filled by a cut in spending and part will be filled by increasing contributions. the countries that most obviously will have to increase are the ones already paying, such as germany, my home country, will chip in quite a bit. the draft coalition government in germany has announced quite clearly that germany stands ready to increase its budgetary contributions. but the designated finance minister of germany has also said that germany will not pluck —— pluck the whole gap in the budget. there will have to be budget cuts elsewhere. which countries will suffer those? that's the big battle that we will start now. jean—claude juncker is only putting up a number of options, the realfight juncker is only putting up a number of options, the real fight will start now. the fight is between, of course, on the one hand farmers, and
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on the other hand regions that are a little bit less advantaged compared to the better performing regions. it is about a cohesion policy. and agricultural policy. quite a bit of the burden could fall on some central and eastern european countries. they are already starting to fight heavily. given that will there be cracks in the union about this? the real battle isn't in the document that will be outlined now. but it is being said frequently here by high—level commissioners, it's the idea to make spending conditional on the rule of law. conditional on respecting the rules of the union. and that is, of course, something that's targeted at poland, and perhaps hungary. that
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debate is toxic. but it's ongoing. we shall see who will prevail in that debate in the end. thanks very much. let's take a look at some of the other stories making the news. sky and bt have agreed to pay {11.5 billion to broadcast premier league games for three seasons from 2019 to 2020. but the tv networks could end up paying hundreds of millions of pounds less than in 2015, with lower prices per game. the winning bidder for two other packages of tv rights hasn't yet been announced, leading to speculation that the price is too high. japan's economy has seen its longest continuous expansion since the 1980s boom as growth in the fourth quarter of the year rose by 0.5%. the rise will be welcome news to prime minister shinzo abe, whose economic policies have been criticised in the past. armed police in south africa have f raided the home of a family business that has close ties to president
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jacob zuma. it comes as the nation awaits to see whether the president will step down as ordered by his party, the anc. chinese search engine baidu has seen a rapid turnaround in its fortunes, with revenues up 29% at the end of 2017. it's partly due to the success of its netflix—like video streaming service, which baidu is now planning to list in the us. monica miller is in singapore to tell us what's going on. it's an interesting turn around, these results much better, and it plays into that trend of streaming content online. they have a lot of competition. earlier this week we made a similar announcement that alibaba has just made a similar announcement that aliba ba has just made made a similar announcement that alibaba has just made a made a similar announcement that alibaba hasjust made a deal with wa lt alibaba hasjust made a deal with walt disney, a huge one, so they will stream their movies and programmes. you will be able to watch winnie the pooh and mickey mouse. but in terms of baidu this
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substantial earnings. $656 million in profit. after the news broke their shares went up more than 5%. the pygmies we were talking about is this video streaming service. their arm is apparently going to launch this in the us stock exchange. i have heard different figures mentioned. the cost of it, what it is worth could be anywhere between eight to $15 billion. anything. this will be a big story about the economic future of china. thanks very much. let me show you the markets. the hang seng is having a pretty good session. bucking a trend of nervousness coming back into markets
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ahead of the inflation figures that we will get in the us later. at the world's largest economy. it will have an effect around the world. we know markets are jittery given everything we saw it with the better—than—expected job figures. it is that perverse thing where good news is leading to big falls on the markets. because it means interest rates could go up sooner than expected. let me show you what is happening in europe, and it is a similar picture at the start. they will be keeping an eye on what happens in the us later. and yogita limaye has the details about what's ahead on wall street today. before markets open here in the us, we're going to see some pretty important economic data come out. and that could dictate which way the day goes. numbers for the consumer price index will be released. this is a key measure of inflation that the federal reserve looks at while making interest rate decisions, and so, if it's gone up more than expected, it could rekindle fears of rapid rate rise in the us, something that triggered the steep fall markets saw last week. retail sales figures will also be out.
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they are an indication of whether or not the american consumer remains happy to spend. and some of the country's big—ticket investors like warren buffett and george soros will disclose what stocks they're holding. it's something they have to do every quarter, but there is always keen interest in finding out what companies they're placing their bets on. joining us is jane foley, senior currency strategist at rabobank. welcome. we have these inflation figures coming out in the us. there was lots of concern about that. huge. more than any other time in yea rs. huge. more than any other time in years. huge focus on this us inflation release. we are all aware of the big plungers in the stock market last week which was triggered by another inflation really. that time it was the average earnings for
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january. generally if people are paid more than we have more money in our pockets and we demand more and the consumer rate goes up. it is this release, as welcome if that is also strong, the market will worry about higher interest rates, and that can lead to more volatility again across the markets. thanks very much, we shall see you later for a look at the newspapers. still to come: airmiles, air miles, credit card points, a certain deal and airline is offering is worth it, we have a team of writers researching, so you don't have too. spin forwards, a few years... 20. how to fly first class without paying a penny. i meet the mean who knows all the tricks of airline loyalty schemes. he's called the points guy, and he tells me some of the secrets of the skies. you're with business
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live from bbc news. a wave of sexual harassment claims have hit the headlines lately, particularly in the tv and film industry, prompted by allegations against disgraced producer harvey weinstein. and so the british film industry has launched a new set of guidelines to guard against bullying and sexual harassment. let's speak to bfi's chief executive amanda nevill. why are these guidelines being launched ? what is the aim behind them and why are they needed? why are these guidelines being launched ? this is a set of eight principles that have been devised and drawn up by most of the main organisations behind film in the uk. they come with a set of guidance. they also come with a commitment to offer training with the aim that in every set and every workplace there are at least two people you can go and talk to. and a free telephone advice line
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which is being supported by the film and television benevolent fund. there hasn't been anything like this in the past. people have complaints and concerns but haven't had any where to turn to. the law is on your side. but there is that missing link. if you are a victim of this it is often difficult to know how to articulate the issues and where to turn. but this is an important day. these are eight simple principles. the industry is sending out a message, we want to stand up and say we don't want this behaviour in our environment. film is booming in the uk. we need another 10,000 entrants into the industry. we want to send out a firm message that this is an open, inclusive, safe, and enjoyable industry to work in. there is some criticism that this is a lovely
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environment, we can get away with these rules, if you're in a small organisation, maybe working in a college, that resources and available. are you hoping this could roll out elsewhere? the whole point of the principle from the organisations that have signed up behind it shows there was a commitment right across whole industry. it isn't just commitment right across whole industry. it isn'tjust about large organisations. 0ne tiny example, one of the organisations has film clubs in10,000 of the organisations has film clubs in 10,000 schools across the uk. they are for free. they will be talking about bullying and harassment. so right at the very beginning young people will be able to learn about what the film industry is doing to combat this. good to talk to you, thank you very much. you're watching business live. our top story: in a few hours' time, the president of the european commission, jean—claude juncker, will outline his proposals for the future eu budget. he'll be working on the basis that the uk will be leaving the union and this will deprive the eu of between 12
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and 13 billion euros every year — that's around 15 to $16 billion. how do you fancy flying first class without paying a penny? well, it's possible, apparently. but you have to learn how to use all those air miles and credit card points wisely. and one man who says he can tell you how to do it is brian kelly. he's called the points guy, and his site gives the lowdown on reward schemes and how to use them. i caught up with him in la. is a site all about how to maximise your travel, whether it's your air miles or credit card points or whether a certain deal that an airline is offering is worth it. we've got a team of writers researching the nitty—gritty so you don't have to. so where did this begin? interestingly, i was always computer savvy. my dad got a job at a start—up where he had to work from home. he didn't know how to use the computer, so i charged him $10 a ticket, i basically
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was using travelocity when i first started in ‘96. so he thought it was really convoluted to book an airline ticket, but i was just clicking on information. so that was the first time i started a business. and then he realised he had all these loyalty points, and he was like, i don't know how to use them, but being the precocious 12—year—old that i was, i was like, it's got to be the caribbean, you know! and somehow my parents trusted their 12—year—old son, and every year we had the most amazing trips. so, spin forwards a few years. 20 years, yes. and it's now a fully fledged business, you employ 20 staff, based in new york. how did you get to that? i started earning points, i started working on wall street in august of ‘07. so i worked at morgan stanley in recruitment, but i was travelling around the us and canada recruiting computer scientists to work on wall street, which you could imagine during a recession, especially when most computer scientists want to work at google or yahoo, it was an uphill battle.
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but the company, even though there was a recession, you can't cut back on technology and your future technology, so myjob was, i was buying tonnes of nintendo wiis to go on mit's campus to convince people to come and listen to our opportunities, so i was spending $100,000 a month on the company dime, paying it off every month and earning the points. so all of a sudden, my points for myself were just raining from above. and even though during the recession, no bonuses, and you could barely geta raise, points, i was cash poor and points rich. and then you turned that into a business? so now you spend a lot of time and your team that work with you, you spend a lot of time maybe looking at some of the loopholes, the flaws, and actually how to just maximise what the points can do. tell me about that. so i started a blog in 2010 while i was still at morgan stanley, and it was just to help my friends and family understand what i was doing. but i realised really quickly
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that most of the travel deals that came out, people weren't explaining how to take advantage of that. so i saw how things would go viral, and i would be able to explain succinctly, get in on this deal, just to it. people need to be told, is this worth it, or is it not. give everything you've said, i can't imagine you are friends with a lot of airlines. tell me about that relationship. it's really interesting, because we don't do anything unethical. we play within the rules, and airlines like this, because airline loyalty programmes are huge profit centres. the airlines often make more selling frequent—flyer miles to partners like credit cards that they do actually selling flights. so they have an interest in keeping these programmes going. all i do is teach people how to get the most value out of them. so we are friendly with the airlines. we are also independent, i
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don't take freebies from airlines, i pay for all my own flights, because a lot of what we do is reviewing flights and hotels, so we need that integrity. so i would say we have a cordial relationship with the airlines. idid cordial relationship with the airlines. i did a facebook live with the new ceo of british airways, so i think we definitely have a cordial relationship with the airlines. so after that expert advice, i hope you flew home first—class! chance would be a fine thing, but it is really interesting when you realise, u nless really interesting when you realise, unless you pay serious attention to it, you just think you are and you spend them, but you have to be a bit clever, work out how to use them, maybe buy the ticket and then upgrade. ibooks and tickets with air miles to go this summer to los angeles, five of us in the family, business class, oran airmiles, but of us in the family, business class, or an air miles, but the tax is huge, almost as much as it would have cost to go economy. sergas, some decent advice there. now, as if you could have avoided
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this. valentines day is upon us. but thanks to the smartphone, cupid now has another string to his bow. the online dating industry is worth more than $5 billion every year — and mobile users are now spoilt for choice. certainly for options, maybe doctor —— maybe not for dates! in addition to the most popular apps like tinder and bumble, today there are apps which try to find you a potential partner using everything from your music taste to your dna. so how do they all work? tom davies has more. tinder. i've been known to tinder a bit. used tinder but i didn't like it. we've all been on tinder, of course we've all got the app. too tall, too sporty, too vain. many of the traditional dating websites try to bag you that special someone by asking
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you about your personal preferences. and while experts agree on linedating is good for widening the pool, is this the solution to finding mr or mrs right? the research is now clear that using individual level information for personality, values and preferences, to try to predict who will be compatible in the future, is a losing game. it mightjust set up people who are similar to them. it is a reasonable hypothesis but no one has the able to find consistent evidence for that idea. so if data is not helping us to find out perfect partner, what else can be used to find our soul mates? 0ne firm has the answer and they think love is all about chemistry. my name is asma mirza and i am one of the co—founders and chief executive officer of pheramor. lam i am brittany, lam brittany, the i am brittany, the chief chemical officer. pheramor is dating app that matches people based on genetics. we send you a genetic kit. we extract a portion of the dna. you are able to see who you would be attracted to. dna and pheromones are what love
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at first sight is all about. in the age of the smartphone, many are pinning our hopes on love at first swipe, rather than at first sight. and although there are more and more apps available, now the problem may be there is just too much to choose from. did tom have his shoes on the set there? sackable offence! jane foley is with us. you walk into the shops these days, and you begin to see the next thing, valentine's day, then easter, and it seems like a constant cycle. if you don't want to pay for what the flowers today, you can do
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what the flowers today, you can do what my husband didn't buy them for days early so that you don't have to get them full price! that is better than maybe getting them tomorrow, and getting reduced flowers i! be grateful you got some at all. that's talk about what is in the papers, and this is a story we mentioned earlier about sky and bt paying over £4 billion to share these premier league tv rights. is it more less last year? i think there are two aspect of this. the first is cost, because per match, it isa first is cost, because per match, it is a lot less, so they are paying together $4.46 billion, three years ago it was $5.4 billion, and they say that there are declining viewing numbers. and that i think is something that the industry does need to address. why are there declining viewing numbers, is it because there is so much choice, or is it perhaps because to go to see a
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football match now is so expensive even to watch it on television and so difficult, perhaps it is difficult to get the youngsters interested in the sport. so i think thatis interested in the sport. so i think that is something which is interesting. the other thing is not all the packages have been sold yet. and according to some of the a nalysts, and according to some of the analysts, they could go to the likes of facebook. that is what some of the analysts were saying. perhaps these guys will dip their toe in the water on some of the smaller packages, see how that runs, and then at the next auction, that could be the more interesting time to see whether these online agencies have an interest in this. staying with amazon, this is an interesting story, this is to do with voice—activated devices, amazon's is called the echo, apparently they had atv called the echo, apparently they had a tv advertisement that inadvertently triggered the speaker
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to order some cat food, but it is interesting when we talk about the growth of this in terms of people being able to shop and run their lives. we have asked for people to get in touch with their concerns, whether they use them. on the whole, people are saying that they like using them, but it is a whole new business stream for these firms. it is, but i would say if you are a user of amazon prime, the difference of course is that you just log on and order something online, it arrived the next day in the post, which is brilliant. the difference with this is it is voice—activated, which can be brilliant for some people who find it more difficult to logon. i have a couple of teenagers, andi logon. i have a couple of teenagers, and i would rather have the discipline of making them log on, this is my credit card! but i do think that for many people, it could bea think that for many people, it could be a brilliant device. a lot of people getting a touch. say, do you use them? ed wood says, my geordie accent doesn't always work, so there isa accent doesn't always work, so there
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is a lot of issues around accidents of language. trish says, i don't trust google's alexa. i use it to control my smart home setup, heating and lights, very few issues. this person says, i would be very afraid ofa person says, i would be very afraid of a device like that recording everything i say privately. that is the fear, what is it going to record and do with it? we don't understand technology fully and we know we don't understand it fully so we will a lwa ys don't understand it fully so we will always be suspicious of this. jane, nice to see, thank you very much. my husband just texted me, i think he is feeling guilty about the flowers! mark says, my life is not interesting enough to be listened to. we will leave you with that thought, same time, same place tomorrow. goodbye. thanks for watching. goodbye. hello. just like yesterday, we are
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going to see a band of rain, sleet and hill snow moving its way in across the uk today. much of that snow will be over the higher ground, but also, it is going to be pretty windy, with some gales if not severe gales expected in the far north—west. that is coming in from this weather system towards the north—west, associated with a front heading into the uk. it was a pretty frosty start, but you have a bit of sunshine across eastern areas through the morning, and out towards the west, cloud and rain is already gathering, bringing snow over the higher ground of north wales. we are into the afternoon with some strong winds, there will be some blizzard like conditions. let's have a look at things during the afternoon, still very wet across southern areas. that rangers teasing off a little bit for a time. the far south—east of england not seeing that rain until later on this
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afternoon, but more rain for wales, northern england and much of scotla nd northern england and much of scotland with snow over the higher ground, maybe up to 12 or 13 centimetres of snow, and blizzard like conditions in the strong winds. some sunshine in northern ireland later on, and in western areas, temperatures rising up into double figures. but still a little chilly the further north and east you are. 0vernight tonight, the rain will continue to march eastward, and it eventually should clear away, a few showers dotted around across western parts, particularly in western scotla nd parts, particularly in western scotland where there will be snow. temperature is not as last night, preventing a frost with temperatures around to about 4 degrees. through thursday, a fine day for many of us with some spells and sunshine, lighter winds. a few showers, you notice, just dotted around there. more showers across west of scotland in particular during thursday, but those temperatures up to double figures again across southern areas, further north and east, five or 6
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degrees, still a little less cold thanit degrees, still a little less cold than it was yesterday. through into friday, we have high pressure which is starting to develop, and if you track the isobars back here, they are coming in more from a west or south—westerly direction, which is a less cold direction at this time of year. so for friday, it is looking largely settled. there will be some dry weather around, a few showers towards northern areas, crucially not as cold, and it will be mostly dry. so not looking too bad as we go into the weekend as well. goodbye. hello it's wednesday, it's 9 o'clock, i'm victoria derbyshire, welcome to the programme our top story today — borisjohnson will make a speech this morning saying he understands some people's feelings of "grief and alienation" when it comes to brexit. the speech aims to reassure remain voters — but will it? i think it'll be all right. i think so. i think he'll do it. i think it'll be all right. i think so. ithink he'll do it. he's so. i think he'll do it. he's not the man to do that job. so. i think he'll do it. he's not
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the man to do thatjob. he care about remainers. it's like setting your house on fire and then trying to put the fire about yourself. -- he does not care about remainers. we'll look ahead to that speech after 10 — what do you want to hear the for sec say today? also on the programme — how did you catch down's syndrome? a question asked by a benefits assessor trying to work out how much
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