Again wow on the dow 10 straight sessions of gains. And more records broken. Question is, how long can it last . As you can see, europe is slightly off today. We will tell you why. And, this week on bbc news weve been looking at the issue of disability in the workplace. Later in the programme well speak to our producer in charge of the series. Johnny cassidy gradually lost his eyesight when he was a teenager and hell be talking to us about his unique experience of the newsroom. Today we want to know with japan allowing workers to head home early on a friday would you like to see this introduced in your workplace . Is it overkill or should employers be more sympathetic . Let us know. Just use the hashtag bbcbizlive. I tell you what, when you start at 4am in the morning, i dont want to go to 3pm welcome to the programme. We want products made in america made by american hands. That was the pledge of us President Donald Trump when he addressed Cheering Workers at boeing last week. And he continued the theme on thursday when he met with the bosses of more than 20 Top Us Companies at the white house the likes of general electric, lockheed martin, ford and dell. He told them he plans to bring millions of Manufacturing Jobs back to the us. But how realistic is that . Lets take a look. Well, according to President Trumps official website, since it signed the north American Free trade agreement with canada and mexico known as nafta more than two decades ago, america has lost nearly one third of its Manufacturing Jobs. And i tell you what official numbers do seem to back up that claim. Americas Bureau Of Labour Statistics says 5 million factory jobs have been lost since 2000. Thats leftjust 12. 3 million americans employed in manufacturing well under one in ten of the workforce. Definitely a huge decline from the one in four who worked in factories in 1960. But are bad trade deals, and cheap mexican and chinese labour really to blame . Or is it simply the march of technology . One recent study by Ball State University says the vast majority of these jobs 85 have gone because of automation. Persuading companies to reverse this trend could be difficult. The Boston Consulting Group estimates that a Human Welder Costs 25 an hour to employ, while a robot costs less than a third of that around 8 to do the same job. Dr Michael Plouffe, lecturer in International Political economy at University College london. Thank you for coming in this morning. Lets start with this jobs issue. The latest figures we have had out of america would suggest the economy is at full employment. If it is at full employment, why is there a need to create more jobs there and secondly, is it really full employment or is there more the figures . The Employment Figures do not reflect the distribution of employment in manufacturing has taken a hit over the last few years. I would be optimistic about what these figures mean. They are likely to be biased and there are people who have no chance of finding employment. So that does not take into account the figures of people who have given up looking for work . Exactly. When it comes to creating jobs, given the Information Aaron has told us, how realistic do you think it is that President Trump could bring back these Manufacturing Positions . Somewhat unrealistic and it would be difficult to do. He has floated the idea of a parallel law which has no prospect of lasting or getting by without signing significant repercussions on an International Level the tariff wall. His best option is to provide jobs and vocational training. Just touching on that, if trump and his tea m touching on that, if trump and his team were being creative, he wouldnt be trying to get rid of robots to put back humans into place because companies will not do that, it is unrealistic, but they should be looking at creating completely new industries as the world moves forward , new industries as the world moves forward, in terms of technology and things like that . Yes. Unfortunately this goes against the republican small government ethos. A small problem we told you about the meeting which happened yesterday, 20 Big Companies meeting President Trump and it did seem to be big smiles, a lot of enthusiasm and optimism, if we are saying he cannot bring back these Manufacturing Jobs, the technology has moved on, why are these big ceos not coming in with a more demure expression. They were very agreeable yesterday my they were very agreeable yesterday my guesses they are being cautiously optimistic. Rather than the wall which Rex Tillerson is trying to calm the Mexican Government down about, but there are other options which they could potentially benefit a great dealfrom. Which they could potentially benefit a great deal from. Doctor Michael Plouffe from ucl, thank you for joining us. Lets touch on some other stories. Uber is being sued for Stealing Trade Secrets and technology from google. Waymo, set up by google owner alphabet, is taking legal action against 0tto, the self driving Vehicle Business that uber bought last yearfor 700 million. Who came up with all these names . the lawsuit argues that former waymo manager Anthony Levandowski took information when he left to co found the venture. Uber says it takes the allegations seriously and will review the matter carefully. China for the first time became germanys most important Trading Partner in 2016, overtaking the United States, which fell back to third place behind france. German imports from and exports to china rose to 180 billion last year, federal Statistics Office figures reviewed by reuters showed. France remained the second most important Business Partner with a combined trade volume of 176 billion. The United States came in third with 174 billion. Heathrow airport says it served a Record Number of passengers last year. 75. 7 Million People passed through its gates in 2016, a rise of 1 on the previous year. Cargo volumes were also up so was revenue. The boss is calling it a milestone year partly of course because the uk government has announced its support for a third runway at heathrow. Chinas internet giant, baidu, has reported a fall in its quarterly revenue following a government driven internet advertising crackdown. Sales fell a less than projected 2. 6 in the Fourth Quarter after it instituted measures to comply with regulatory restrictions and cut the number of ads it displays alongside results. Tim mcdonald, in singapore, has the details for us. Good to see you, tim hello. That is right, the latest results showed that baidu did not have a good last quarter. There was a Government Crackdown on Health Care Advertising in particular, which accounts for 20 to 30 of the companys search revenue. The reason for the crackdown is because its student died after undergoing experimental Cancer Treatment it discovered through the search engine. Revenues have slipped by nearly 3 . Also it is in an intensely Competitive Market and baidu has two fend off competition from chinas other internet giants. But it is bullish, predicting revenues to rise for the First Quarter of this year. 0k. Tim, do you want to answer the Pineapple Question now or not . do you want to answer the Pineapple Question now or not . I am 0k do you want to answer the Pineapple Question now or not . I am ok with pineapple. There we go, that is what we wanted 2a hours late but good on you we had been waiting. The shares have been hit by a fall in the price of copper and other commodity prices. Keep your eyes on washington, we will be talking about that very shortly. Click over to europe because the european markets, do we have them . I think so. They are not there the are to follow tofollow tofollowfiffizelflfrrr to follow if i te ~ ~ , f. What, wall street, we will. What, wall street, we wing you a being broken, § thing records being broken, one thing after an. Lets find out from an expert. Joining us is simon derrick, chief markets strategist, bank of new york mellon. Ken straight games, is that because of trump or Something Else . Ten straight games. We have a cautious fed, we also like the fact we are not going to be calling china are Currency Manipulator yet. The story is, the interest in europe. We have rising concerns about political events in the netherlands, france and possibly italy and greece. That is pushing money within europe towards northern europe. It is pushing it towards german bonds and pushing it towards german bonds and pushing yields down. Bonds and yields, bonds we are talking about government debt, the retainer get on that investment. By lend money to germany for the next two years, i would get negative Interest Rates on that. I would have to pay. 9 of a percent. For the privilege of lending them money. If i had the choice of lending them money or paying for a privilege or paying the money to the us and receiving a 2 plus interest rate, what would you rather do . That is keeping Interest Rates relatively speaking controlled in the us. While i have got you on bonds, government debt, we heard from the Treasury Secretary for the us yesterday. He mentioned something which you dont hear about much, a 50 year bond, a 50 year debt. Would that be america saying he, investors, we a re that be america saying he, investors, we are going to sell you 50 yea rs of investors, we are going to sell you 50 years of debt . What they are going to do is instead of Borrowing Money for 20 years or 30 years, they are borrowing for 50 years. This is the story they have talked about for the story they have talked about for the last three months. The idea is Interest Rates are so low, why not borrow money for as long as you can. The fact that you will not get your money back for another 20 years means that money will be in the system for a little longer. It is also good for equities. But it is bad for the dollar. If you look at the course of the last 12 hours, the dollar has started to come under pressure on the back of that. That is something with you to keep a close eye on. Simon derrick, thank you. You will be returning to discuss some Paper Stories including the premium on friday. Do you get early doors on a friday . the premium on friday. Do you get early doors on a friday . I am going home now no, you are not see you ina minute. Still to come. And this week on bbc news weve been looking at the issue of disability in the workplace. Later in the programme well speak to our producer in charge of the series. Johny gradually lost his eyesight when he was a teenager and hell be talking to us about his unique experience of the newsroom. Youre with Business Live from bbc news. Lets talk about rbs. The royal bank of scotla nd lets talk about rbs. The Royal Bank Of Scotland has just reported another massive loss. The bank which is 72 owned by taxpayers is also planning cost savings, which will mean job cuts and branch closures. The bank has lost £7 billion in 2016 thats more than three times last years loss. Our Business Correspondent theo leggett has more. Was this a surprise . No, it didnt come as a surprise at all. Rbs is really still paying for the sins of the past. If you remember, in the run up to the financial crisis around 2007, rbs was positioning itself as a Major International bank, huge ambitions. Fora itself as a Major International bank, huge ambitions. For a while it was, by some measures, the biggest bank in the world, but overstretched itself and is still paying for the consequences of that, still restructuring and on top of that there was a fair amount of wrongdoing within the bank. You can see that in todays figures. It had to set aside around £6 billion to cover the legal consequences of past actions, like the mis selling of mortgages in the United States, still being pursued by the Department Ofjustice for that. That burden hasnt gone away and wont go away for another year or so. On top of that big Restructuring Costs and the bank is trying to reposition itself as a uk focused bank, withdrawing its international ambitions, so there are restructuring cost associated with that as well. Is rbs effectively a zombie bank . Thats one question we put to the Chief Executive of rbs a short while ago. Certainly its been a long period of time and this is what happens when a bank goes wrong and you have to put it right. Underneath, this is an amazing bank. We make £1 billion profits every quarter but then it is offset by the one off charges, predominantly from the past and that has been huge. This year alone 24 billion we have put into the uk economy through lending, 320,000 home loans, £9 billion has gone into small and medium sized businesses to get the economy moving. Thats the sort of bank we really are underneath it all, fantastic brands, fantastic people serving customers every day. The big boss of rbs. Also thank you to theo. Have a great weekend. Always great having you on that. Bye bye. Youre watching Business Live. As part of our disability works coverage, this week here on the bbc weve been exploring the experiences of disabled people in the workforce and as consumers. Weve had various guests on this show, focusing on the experiences of disabled entrepreneurs and employees, and examining how different businesses are innovating to help disabled people. The bbcsjohny cassidy has been central to the production of the series, and hejoins us now. Thank you forjoining us. Good to see you. Glad to be here. Funny being on the side for a change. Yes, i was going to say to our viewers, johnny works in our department. You are always e mailing us for our inside track guests. What is your experience, what is your disability, what caused it . Iam blind, your disability, what caused it . I am blind, cant really see too good. I lost my eyesight as you mentioned in my teens. It started gradually going. I was beat up and lost the eyesight in my right eye straightaway, and in my left eye it gradually went. In some ways its lucky, some people lose it overnight which has more of an impact on them. Because mine was gradual, i was able to get used to it over that length of time. We mentioned with bin looking at disabled people in the workplace, disabled people as consumers. workplace, disabled people as consumers. Been looking. What challenges are therefore disabled people looking to get into work and employers wanting to employed or maybe needing to change their attitudes about employment . The whole idea of disability and getting people into work, across the world theres over 1 people into work, across the world theres over1 billion, 1. 2 billion people who live with some sort of disability, a population the size of china a massive proportion of the population. To get those people into work, its going to be a win win for everybody. Companies are going to get more of a diverse workforce. People are going to come off benefits. Theres going to be other diverse experiences people can bring into the workforce, workplace, and share their experience. Disabled people, day in and day out, live with a problem they have to solve. They are innovative problem solvers. They are innovative problem solvers. The challenges, if there is a barrier and you cant get round it. Those are the sort of people bosses should want in work. Right the practical challenges of companies to employ people with a disability. All it takes is a bit of a mindset. If youve have some on an amazing at computers, amazing at it but your office is up three flights of steps and he is in a wheelchair. Rather than not employ them, let him or her work at home. Its changing the way you think about traditional perceptions of workplaces. Having produced a series for us this way, what stories have you come across that have really resonated with you . There have been brilliant stories, and a lot of them havent really come onto the screen or havent been on the radio or anything. We mentioned stuff on the inside track we had earlier this week, the chief Technology Officer of the hearing aid company. He was a brilliant story. He invented a sound bridge which was installed in his head and has changed the lives of hundreds of thousands of people. We had louise dyson, the only Global Casting Agency for disabled actors and actresses. Her big thing is she wa nts actresses. Her big thing is she wants advertisers to embrace disability. 0nce wants advertisers to embrace disability. Once it up on the big board and people are starting to see a day in and day out, it will have some sort of profound change. Tell us some sort of profound change. Tell us about the trader you were mentioning earlier with Cerebral Palsy . We had him on on some of the World Service coverage, a former Wall Street Trader who happens to have Cerebral Palsy. An investment banker, made millions and millions of dollars for a lot of the investment banks. He realised companies werent utilising the disabled pound, the purple pound or purple dollar, so as he said he ran a lot of numbers. He said disability shouldnt be seen as a niche market but an emerging market. If people can leverage disability and somebody wont say, its about the economy, stupid fascinating. Unfortunately we have to wrap it up. Thank you for joining us. We will see what says afterwards. You can find more on our special coverage of this issue and how businesses are dealing with it at bbc. Com disability and on twitter at hashtag disabilityworks. Lets go to japan, where thousands of workers will be going home early today. Its part of a drive by the government and business groups to tackle overwork and its being called premium friday. The idea is Companies Make staff go home at 3pm on the last friday of the month, starting today. You know why theyre doing it . Death from Overworking Injapan is such a problem that it even has its own word. There you go. Sounds like a lot of fun. Sounds horrid simon is back with us to ta ke Sounds Horrid simon is back with us to take us through the papers. The idea of premium friday, do you do anything like this in your place of work . No. I know of people who work in Big Companies in london, especially in the summertime they do an early finish on a friday when its bst, when the clocks change. An early finish on a friday when its bst, when the clocks changelj an early finish on a friday when its bst, when the clocks change. I seem to remember way back, certainly up in norway in the early 90s used to have some working hours, to take advantage of the long summer days and get the maximum benefits out of that. I think it was friday, might have even been all week that people finished at three oclock, get out and make the most of it. I think its a lovely idea. Theres a story in the daily mirror today, union chiefs reveal workers are doing £33. 6 billion worth of unpaid overtime year. Up to this point in 2017 people on average have been working for free. Its interesting looking about story, they say one in five of us are doing unpaid overtime. It is quite a remarkable number. Again, it was interesting, theres a certain regional element to it. It seems us folks in london do even more. Do you think doing extra work, do you think that is adding to productivity or adding to what is achieved at work or do you think if people worked left and took the time of their supposed to take off there would be more productive . I think the answer is. You always have to have appropriate worklife balance. I think about what is changing and possibly should be changing and possibly should be changing for the better, is its a little more mixed. People should head on a little earlier probably but equally you work in the evenings or on but equally you work in the Evenings Orona but equally you work in the evenings or on a saturday, its about getting that balance right to fit in. I think the idea you should simply be there and work all the hours and percent is slightly daft. Youve taken all the time up talking about work and we cant talk about the romanians on bulgarian is working in the uk, filling the hole of the polish or are going back or going to germany. We cant even let you make a comment on it. Sorry we appreciate your time. We are going to go home early. Thats it from us today, bye bye. In the wake of storm doris it will bea in the wake of storm doris it will be a quieter day to day. Yesterday there was 94 miles an hour in North West Wales and bringing disruptive weather. The storm is taking its windy weather into west russia this morning. A temporary bridge of High Pressure settling the weather down for a time today, bringing most of us a fine day. Some icy stretches to work out that my watch out for first thing. And some showers, some continuing for north wales and west england but the afternoon looking drive england and wales. Further north and west a change in the weather. The next Atla Ntic Change in the weather. The next atlantic Weather System flexing its muscles. 0utbreaks Atlantic Weather System flexing its muscles. 0utbrea Ks Of Atlantic Weather System flexing its muscles. Outbreaks of rain in Northern Ireland and scotland. A short lived spell of snowfall west scotland, mainly in the hills above 200 metres elevation. To the south of this we will see the cloud starting to spill in and thicken up in wales and South West England but probably staying largely dry until after dark. Plenty of dry weather and sunshine to east wales, the midlands, central and Southern England east anglia. 0vernight this rain will push some ,;, ii fell. 25. 25. 1221; ,f f;£ zi. For 151 ii p111 251 111 221 . 1511721221. For northern 151 1 . P111 21 11 . . . 1 . 1511721221. F northern rn as airuolks in overnight. As milder air works in any hills and i will go higher and higher up the mountain. Increasingly wet weather falling here through the night. In Southern Parts of england it stays dry. A mild night for most, milder than it was last night. Looking at the weekends weather, quite unsettled. My lord, windy but some rain to content with. The rain will be heavy across the northwest. These Weather Fronts pretty active and with the South Westerly Wind really targeting cumbria and south west scotland, here we could see rain of around 60 millimetres. Enough to cause some localised flooding and some strong winds as well. Gales and perhaps even severe gales for a time around the coasts in the north west but nowhere near as strong as the winds we had from doris. The wet weather push into the south and east but not too much rain getting into east anglia and the south east. It will try to brighten up south east. It will try to brighten upfor south east. It will try to brighten up for scotland and Northern Ireland later in the day. That will be short lived because sunday, more wet weather targeting the north west. Another mild day, highs of 12 degrees. Hello, its 9 oclock, im joanna gosling, welcome to the programme. A conservative win in the copeland by election in cumbria. The tories beat labour in an area they have held since the 1930s. New mp Trudy Harrison called it historic. What has happened here tonight is a truly historical event. You would have to go back more than a century to find an example of the governing party taking a seat from the Opposition Party in an election like this. And in stoke on Trent Central labour gareth snell beat Ukips Paul Nuttall to hold the seat known as the capital of brexit. We will have all the political reaction to both by elections. The morning after the
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