Transcripts For BBCNEWS BBC Business Live 20171130 : compare

Transcripts For BBCNEWS BBC Business Live 20171130



behind one of britian‘s first healthy supermarkets. and with brexit theresa may heading to brussels next week to try and break the brexit deadlock we'll have a special report from the irish border on one of the key sticking points. we'd love to hear your views on the stories we cover today.. get in touch by twitter — just use the hashtag bbcbizlive. the price of oil matters. that's because it drives so much of the world economy whether its used for transport people and goods or heating our homes and workplaces. and it's why the focus is on vienna today because that's where the oil wm that deal is due to expire at the end of march. but there are signs of a split. russia is happy with oil at $40 a barrel — some of its oil bosses have been questioning why cuts should continue now prices have recovered. but the saudis need much higher prices to balance their economy — they want oil at $60. meanwhile the continuing recovery of the global economy has helped cut stockpiles. in september they fell to just under 3bn barrels in the oecd group of advanced economies. 0ur correspondent bethany bell is at 0pec headquarters in vienna nice to see you, bethany. so we are hearing from some in the media that they have agreed a deal before this meeting kicks off. what are you hearing? we are waiting to see. at the moment, i don't know if you can see behind me ministers are arriving here for the beginning of this meeting. the big question of course is whether to extend and how long to extend for. the indications are, at the moment, that the suggestion seems to be that they'll decide to extend the cuts to the end of 2018. but we also have been hearing rumours that perhaps that would be a decision that might be reviewed midyear because, as jamie said, russia can deal with a lower price of oil than say countries like saudi arabia and it's questioned the wisdom perhaps of maintaining cuts which could open the door for other non—opec, non—alliance groups, notably us shale oil producers to seize the moment and spike their production. and bethany, there's also the question of whether opec members and the non—opec members that are involved actually still to the promised cuts. there's always the issue of policing this? indeed. although it's been quite interesting recently in the past, many opec members didn't stick to the quotas. in the last few months, opec says there's been much more sticking to there's been much more sticking to the cuts in oil production. opec senior officials recently saying they proved the nay sayers wrong by showing that they could show discipline in this way and they said this had a clear impact on prices. the question is, what will happen though, if we start to see a spike in us shale oil production and whether people don't see the wisdom of keeping cuts in place. but as i say at the moment, the meeting hasn't begun yet, we'll wait to see how the negotiations pan through today and see whether those, how long if those cuts are extended for. bethany, you mentioned there the shale oil producers. in many ways they are the ghosts of the feast, they are the ghosts of the feast, they are the people everybody is worried about, at $60 a barrel, it's worth coming into production and if they do that, they are going to take away saudi's share, aren't they? very much so. opec with its alliance of non—opec members here are in a bind because they want to rebalance the market. the saudis say there is still work to be done before they are happy with the rebalancing of the market. on the other hand, if they continue to extend these cuts, then that really opens the door for then that really opens the door for the us shale oil producers, you know, that companies may start to push for more production after moshe balling and that could brive prices down again, so a paradox in the sense for the opec and non—opec members meeting here today. they have to decide how long they can continue with this policy at the moment. thank you very much indeed bethany. that official meeting will start in around about 25 minutes. bethany is there, as you can see. she'll update us. let's take a look at some of the other stories making the news... american airlines is facing a shortage of pilots over christmas, after a computer glitch gave too many of them time off. an estimated 15,000 flights don't have an assigned pilot due to the software error. pilots are now being offered more money to cancel their holiday plans and work the shifts. american says it expects to avoid cancellations. the supervisory board of siemens agreed on wednesday to prepare to list its healthineers medical equipment business on the frankfurt stock exchange in the first half of 2018. the move comes as the german industrial conglomerate is seeking to simplify its structure. the healthineers spin—off will be the country's biggest share offering since deutsche telekom listed in 1996, potentially valuing the company at a0 billion euros. the trump administration has criticised china's bid for recognition as a market economy in the world trade organization. the trump administration has recently started to increase pressure on china, which the white house has called one of the world's biggest trade offenders. china is currently classified as a nonmarket economy — which allows countries like the united states to decide whether it is "dumping" its products in other countries by selling them at unfairly low prices. a former executive at which? — richard lloyd — is taking legal action to get compensation from google for users of iphone — who he says have had personal information collected without their knowledge. the tech giant told the bbc the case has no merit. our technology correspondent, rory cellan—jones is here to tell us more. let us go through the allegations? this relates to the iphone. apple's iphone, in its safari browser which a lot of people use to browse the internet on it, back in 2011 and 2012 had a default privacy option which stopped you installing the cookie softwares which attract people across the internet, they are used everywhere, we are all using them, all subject to them and tracked by them. but apple was keeping them off by default, the browser on the iphone. google, it appears, found a way around this, found a way of installing the cookies, so tracking users when they didn't think they were being tracked. that is the allegation, thatis tracked. that is the allegation, that is why over five mill iphone users in the uk are being joined in this lawsuit and seeking this compensation. so what is google's response to this? google are saying this is not new, we have defended similar cases before, we don't believe it has any merit and we will contest it. there has been cases in the united states, in fact regulatory action by the federal trade commission who ordered a record fine against google for this very offence, so this is a continuing pattern. thank you very much. billions of dollars have been wiped off the value of australian bank shares, after the government announced a wide ranging enquiry into the finance industry. australians deserve and expect the highest levels of service and accountability. for the vast majority, that's exactly what they receive. since the financial crisis, however, there have been examples of misconduct by financial institutions. some of them extremely serious. that's demanded a response from the institutions themselves and from the institutions themselves and from government. banks stocks in australia were hit ha rd by banks stocks in australia were hit hard by this. tim mcdonald joins us from singapore. there's been a lot of pressure on the prime minister to act? there certainly has. even the banks came out and climbed on i guess this royal commission, something they've resisted for a very long time. many commentators are cynical about this saying it's an attempt to influence the terms of reference for a commission that was probably inevitable. there are some very high profile cases. it will certainly receive some scrutiny. most recently it was the commonwealth bank with thousands of breaches of anti—money—laundering legislation. there is probably a bigger issue here. phillip lowe came out saying there was a mix of slow wage growth and high debt. house prices are high in australia and if wages can't keep up in australia and if wages can't keep up with the mortgage, there could be big trouble and the real question is, what extent the lending standards contribute to this. this is all a little ironic because these are the same banks that reminded people for years after the global financial crisis that the subprime crisis didn't really happen in australia and that was a sure sign that standards there were very robust. this will certainly be one to watch. the markets here. more falls in china following on from what happened in the us. the dow rose 0. 496. happened in the us. the dow rose 0. 4%. we are going to have a look at that in a moment. on the us markets, s0 that in a moment. on the us markets, so let's. .. there that in a moment. on the us markets, so let's... there we are, the uk markets, that's how we start it off this morning. and samira hussain has the details about what's ahead on wall street today. consumer spending accounts for more than two thirds of us economic activity so it's a really important economic indicator. consumer spending is expected to have gone up about 0.3% in october. now, also in economic news, the personal consumption expenditures price index, excluding food and energy, will likely show a 0.2% rise for the month of october. now, it sounds like it's a big name, but it's actually really a key indicator of inflation and in fact, it's actually the federal reserve's most preferred measure of inflation as well. finally, the biggest us supermarket owner will be reporting earnings, thatis owner will be reporting earnings, that is kroger. the earnings are heating up in america as amazon's 110w heating up in america as amazon's now stepped into the game. walmart continues to aggressively push its grocery offerings. as a result, kroger‘s profits will have been hurt this quarter as it had to aggressively discount items in order to compete. joining us is trevor greetham, head of multi—asset at royal london asset management always lovely to see you. good morning. there is a lot to discuss. we wa nted morning. there is a lot to discuss. we wanted to focus on the rotation, as they call it, out of technology stocks in the us, so the fang, facebook, am zoning, google and —— facebook, am zoning, google and —— facebook, amazon and google. yes. people tend to take profits in things that have done well during the year. there is not a great deal of fundamental reason for a pull backin of fundamental reason for a pull back in tech stocks. put them into context — most of the technology stocks are up 50—60% this year and down 3% in the last few days, so it's not a huge set. it's not a correction. they started the year overvalued. they are a bit more overvalued. they are a bit more overvalued now. the thing is, it's very like the late 1990s where we had good grow but low inflation and low interest rates. that ended well? ! the nasdaq is at a higher level at the peak of that bubble but the earnings have come through massively s0 earnings have come through massively so the stocks aren't as high as they we re so the stocks aren't as high as they were and the economic environment is similar, suggesting there is more upside. when you look at the companies, the fangs, they're companies, the fangs, they're companies that make profits that have a proper business model. look backin have a proper business model. look back in the 90s, there is a lot of .comes that were going up—and—up in value? the bitcoin is the .com. in your opinion, some people say it's not. and driverless cars is the other one. you can't put those two together, can you ? other one. you can't put those two together, can you? ! all you have to do is start a company that has d riverless ca rs do is start a company that has driverless cars and people give you money. there is a bubbly feeling around it. interest rates are extremely low, there are new technology ideas, it's hard to prove someone wrong technology ideas, it's hard to prove someone wrong about how bitcoin and d riverless ca rs someone wrong about how bitcoin and driverless cars are going to be so you tend to get the euphoric rises. if you extrapolate bitcoin, the electricity consumption, if it keeps going up ten times a year, the lights will start going off. if we weave in the oil price, we have got the 0pec members...m looks like they are extending the supply. it looks like a nine-month extension. will that make a big difference in terms of the price fall and what we are spending?” don't think it will. the critical thing with oil is what happens to china in 2018. it feels like they're tightening policy on growth will slow down. commodity prices will remain under control. if china gets stronger, the rest of the world outside the uk is booming, by the way, he could easily see commodity prices surge, interest rates rise rapidly. then we are talking about a big reversal in the stock markets. china is critical. but we think it will be cooling off rather than blooming next year. as a result of some relatively low interest rate environment which will carry on for a while. interesting. trevor will return to look at the papers. he will be talking about the news stories, including alexa. we won't have her onset. still to come... how brexit could lead to thousands of people to rethink their everyday lives on the irish border. you're with business live from bbc news. here in the uk, the government is setting out plans to get one million more disabled people in work over the next ten years. ministers say that the new strategy will not only help those with disabilities get work, but make sure they keep and progress with a job. our disability affairs correspondent, nikki fox, reports. probably a yellow banana. trying out new technology... left edge, 5 feet away. a child consultant, hannah is testing face—recognition gadgets which could help her at work. she lost her sight five years ago and is now registered blind. during that time, she found it hard to get a job. i left uni with a first—class degree in law and i've been turned down from kind of basic admin roles when i had quite significant experience and that sort of thing. some of them, i might not have got the job anyway. some of them, it was quite clear from the questions they are asking, it was because of my disability. the employment gap between disabled and non—disabled people hasn't significantly changed for some years despite a pledge back in 2015 to halve it. today, the government has published a plan that aims to see 1 million more disabled people in work over the next 10 years. we are making progress. we've got 600,000 more disabled people in work than we did four years ago. what we want to do is continue to work with employers, to continue to exploit the opportunities of new technology and to keep testing and learning to find out what works, what are the things that actually can make a difference so that more disabled people can fulfil their potential and get a good job. today's announcement also includes measures to provide access to personalised support for those with mental health issues and an increase in the variety of health care professionals who are able to issue fitness—to—work notices but with employment rates for people with learning disabilities at around 6%, charities are warning the progreess is too slow. nikki fox, bbc news. we found something extremely interesting. you are very excited about it. so basically, morrisons has had to recall a load of chicken and mushroom pie is because they have fish on them. why not just write fish on fish on them. why notjust write fish on the outside and then they could tell them?! there is no health problem. it is just them?! there is no health problem. it isjust a them?! there is no health problem. it is just a wrong. it has got mustard in as well! delicious! read more on the business life page. —— business live. you're watching business live. our top story... oil. a quick look at how the markets are faring. we will regain her composure. sorry. apologies. as you can see in europe we have a mixed picture. the ftse is down. our top story is oil. 0pec and russia are meeting in vienna at the moment. bethany bell will update us. there is expected to be an agreement to keep supplies in place for another nine months. we are more calm now. the brexit negotiations have been difficult over a number of areas — and one critical issue is what happens to the border between northern ireland and the republic of ireland. at the moment there are no restrictions on the movement of people or goods. but could that change. rachel home has been speaking to people who live and work on both sides of the border. the northern irish border is 310 miles long. and every day around 30,000 people across it on one of around 200 roads. this is one of them. just behind me is northern ireland. just over here is the republic of ireland. we have come here to find out if this bridge joins or divides these communities. meet fiona mcgauran. she lives in northern ireland that lives in the republic. when i say border to you. what does it mean? customs, checkpoints, then there is work. t"%t§‘r>‘“€ $52“; q‘s-s :—. we; 5: t"%t§‘r>‘“€ s‘sa's s‘sa'a s. s—as 5: there t"%t§‘r>‘“€ s‘sa's s‘sa'a s. ssas 5: there be problems t"%t§‘r>‘“s s‘sa's s‘sa'a ss sss—as 5: there be problems for t"%t§‘r>‘“s s‘sa's s‘sa'a ss ssas 5: there be problems for me having will there be problems for me having to work in the uk? will i have to get a visa and maybe? uk government have said there would be no physical presence at the border. they can say that but there will be something. it is the only land border between the uk and europe and the world. driving from black lion to beaucoup, if you don't pay attention you could miss the border. you will fill a bump as the border. you will fill a bump as the road surface changes. the border is literally the bump in the road. hello, margaret! margaret was born in this house and has lived here all her life. what are your memories? you were here when there was a hard border. when you cross the bridge, getting a half quarter of hard plug tobacco and whiskey, that was smuggled, as it were. none of those things were allowed out. nobody wants to return to that. it is totally unnecessary. we are all the same people. a bridge not separating us, keeping us together. a bridge joining us is howl us, keeping us together. a bridge joining us is how i see it. us, keeping us together. a bridge joining us is how! see it. nobody knows what brexit will bring. there are still investing in the future.” am open a few weeks. people are wondering what will happen next. it is this uncertainty that keeps everybody wondering. that is not a good thing for northern ireland, southern ireland or europe. brexit when it comes, i hope this will remain. discussions continue hundreds of miles away in brussels. people here are listening but they are worried. or the bridge which today unites them be used to divide them? that was rachel horne. let's look—up theresa may and her agenda at the moment. she is in saudi arabia. the press are giving us saudi arabia. the press are giving us ‘take. saudi arabia. the press are giving us - take. the hypocrisy of us their take. the hypocrisy of theresa may criticising saudi arabia for using the weapons she has sold them is staggering, says this headline. that is because she has raised the humanitarian crisis in yemen and the fact the saudi arabian border is closed. it is a tricky one for her, isn't it? she wants the trade. i don't think she could have gone to arabia without raising yemen. that is a good thing she did that. but it is a bit of a tight rope she is walking in many different ways between her and saudi and herand different ways between her and saudi and her and america. you have got the deal which both the us and the uk are vying for. there is some sort of concern, a race to the bottom in terms of regulation in order to win that listing. some people are quite happy with the fact there is a potential new category in welfare funds to list in the uk. how important is it? to me it is probably something that is a sign of prestige. britain is looking for something to say we are very global and we are open for business. in the end i think it is hugely significant. you have got all of the far right stuff and the tweets. trump trolling theresa may this morning. it is an interesting space to watch. thanks for your time today. that's it from business live today. there will be more business news throughout the day on the bbc live web page and on world business report. we'll see you again tomorrow. good morning. it has been a cold start to the day. temperatures well below freezing. a widespread frost. and also some ice and snow. the air is still coming in from the arctic on these northerly winds. that is bringing some showers towards the north and east of the uk. those falling as snow. even down to low levels in parts of northumberland, yorkshire and lincolnshire. this afternoon those showers will move further inland. still a wintry mix. sunshine further west. temperatures, with the wind chill, it will feel —1 to minus three celsius in places. a cold day. it is the evening rush hour. the real risk of ice with further snow in the north—east of scotla nd further snow in the north—east of scotland and eastern england could see a covering of snow, even at low levels, pa rt of see a covering of snow, even at low levels, part of yorkshire, lincolnshire, norfolk and suffolk. further west, some clearer skies. showers in temperature and cornwall. with clear skies it will turn quite cold quite quickly. the risk of some ice. for the rest of the night, the showers continuing. there will still be some settling snow at times overnight. again, a widespread frost, temperatures not quite as low as they were last night in towns and cities. during friday, again it is going to be a cold day. lots of sunshine in england and wales. fewer showers around tomorrow. for scotla nd showers around tomorrow. for scotland and northern ireland, when we have lost the wintry showers, more cloud moving in, outbreaks of rain later in the day. not as cold. the wind changes direction ever so slightly. we have got a north—westerly wind developing as we go into the weekend. that will bring in less cold air. the oranges moving their way across the uk. more cloud around at the weekend. saturday is a cloudy day. mostly dry. temperatures up cloudy day. mostly dry. temperatures up to five celsius. sunday, a similar story. of cloud, some rain in the south east. for most, dry. temperatures into double figures across the south. more details on the website. bye—bye. hello it's thursday, 30th november, it's 9 o'clock, i'm victoria derbyshire, welcome to the programme. after she told him she was wrong for re—tweeting, donald trump's hit back at theresa may telling the pm to focus on terrorism, not him. plenty of politicians have criticised the president. here is what his spokeswoman had to say. the threat is real, the threat needs to be addressed, the threat has to be talked about. that is what the president is doing, in bringing that up. tell us what you think about this diplomatic row. also this morning, we have a special report how thousands of people are being threatened with prison every year for not paying their council tax. one mother tells us how she how she ended up behind bars. it was absolutely horrific. i was worrying about the kids and nobody

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Transcripts For BBCNEWS BBC Business Live 20171130 : Comparemela.com

Transcripts For BBCNEWS BBC Business Live 20171130

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behind one of britian‘s first healthy supermarkets. and with brexit theresa may heading to brussels next week to try and break the brexit deadlock we'll have a special report from the irish border on one of the key sticking points. we'd love to hear your views on the stories we cover today.. get in touch by twitter — just use the hashtag bbcbizlive. the price of oil matters. that's because it drives so much of the world economy whether its used for transport people and goods or heating our homes and workplaces. and it's why the focus is on vienna today because that's where the oil wm that deal is due to expire at the end of march. but there are signs of a split. russia is happy with oil at $40 a barrel — some of its oil bosses have been questioning why cuts should continue now prices have recovered. but the saudis need much higher prices to balance their economy — they want oil at $60. meanwhile the continuing recovery of the global economy has helped cut stockpiles. in september they fell to just under 3bn barrels in the oecd group of advanced economies. 0ur correspondent bethany bell is at 0pec headquarters in vienna nice to see you, bethany. so we are hearing from some in the media that they have agreed a deal before this meeting kicks off. what are you hearing? we are waiting to see. at the moment, i don't know if you can see behind me ministers are arriving here for the beginning of this meeting. the big question of course is whether to extend and how long to extend for. the indications are, at the moment, that the suggestion seems to be that they'll decide to extend the cuts to the end of 2018. but we also have been hearing rumours that perhaps that would be a decision that might be reviewed midyear because, as jamie said, russia can deal with a lower price of oil than say countries like saudi arabia and it's questioned the wisdom perhaps of maintaining cuts which could open the door for other non—opec, non—alliance groups, notably us shale oil producers to seize the moment and spike their production. and bethany, there's also the question of whether opec members and the non—opec members that are involved actually still to the promised cuts. there's always the issue of policing this? indeed. although it's been quite interesting recently in the past, many opec members didn't stick to the quotas. in the last few months, opec says there's been much more sticking to there's been much more sticking to the cuts in oil production. opec senior officials recently saying they proved the nay sayers wrong by showing that they could show discipline in this way and they said this had a clear impact on prices. the question is, what will happen though, if we start to see a spike in us shale oil production and whether people don't see the wisdom of keeping cuts in place. but as i say at the moment, the meeting hasn't begun yet, we'll wait to see how the negotiations pan through today and see whether those, how long if those cuts are extended for. bethany, you mentioned there the shale oil producers. in many ways they are the ghosts of the feast, they are the ghosts of the feast, they are the people everybody is worried about, at $60 a barrel, it's worth coming into production and if they do that, they are going to take away saudi's share, aren't they? very much so. opec with its alliance of non—opec members here are in a bind because they want to rebalance the market. the saudis say there is still work to be done before they are happy with the rebalancing of the market. on the other hand, if they continue to extend these cuts, then that really opens the door for then that really opens the door for the us shale oil producers, you know, that companies may start to push for more production after moshe balling and that could brive prices down again, so a paradox in the sense for the opec and non—opec members meeting here today. they have to decide how long they can continue with this policy at the moment. thank you very much indeed bethany. that official meeting will start in around about 25 minutes. bethany is there, as you can see. she'll update us. let's take a look at some of the other stories making the news... american airlines is facing a shortage of pilots over christmas, after a computer glitch gave too many of them time off. an estimated 15,000 flights don't have an assigned pilot due to the software error. pilots are now being offered more money to cancel their holiday plans and work the shifts. american says it expects to avoid cancellations. the supervisory board of siemens agreed on wednesday to prepare to list its healthineers medical equipment business on the frankfurt stock exchange in the first half of 2018. the move comes as the german industrial conglomerate is seeking to simplify its structure. the healthineers spin—off will be the country's biggest share offering since deutsche telekom listed in 1996, potentially valuing the company at a0 billion euros. the trump administration has criticised china's bid for recognition as a market economy in the world trade organization. the trump administration has recently started to increase pressure on china, which the white house has called one of the world's biggest trade offenders. china is currently classified as a nonmarket economy — which allows countries like the united states to decide whether it is "dumping" its products in other countries by selling them at unfairly low prices. a former executive at which? — richard lloyd — is taking legal action to get compensation from google for users of iphone — who he says have had personal information collected without their knowledge. the tech giant told the bbc the case has no merit. our technology correspondent, rory cellan—jones is here to tell us more. let us go through the allegations? this relates to the iphone. apple's iphone, in its safari browser which a lot of people use to browse the internet on it, back in 2011 and 2012 had a default privacy option which stopped you installing the cookie softwares which attract people across the internet, they are used everywhere, we are all using them, all subject to them and tracked by them. but apple was keeping them off by default, the browser on the iphone. google, it appears, found a way around this, found a way of installing the cookies, so tracking users when they didn't think they were being tracked. that is the allegation, thatis tracked. that is the allegation, that is why over five mill iphone users in the uk are being joined in this lawsuit and seeking this compensation. so what is google's response to this? google are saying this is not new, we have defended similar cases before, we don't believe it has any merit and we will contest it. there has been cases in the united states, in fact regulatory action by the federal trade commission who ordered a record fine against google for this very offence, so this is a continuing pattern. thank you very much. billions of dollars have been wiped off the value of australian bank shares, after the government announced a wide ranging enquiry into the finance industry. australians deserve and expect the highest levels of service and accountability. for the vast majority, that's exactly what they receive. since the financial crisis, however, there have been examples of misconduct by financial institutions. some of them extremely serious. that's demanded a response from the institutions themselves and from the institutions themselves and from government. banks stocks in australia were hit ha rd by banks stocks in australia were hit hard by this. tim mcdonald joins us from singapore. there's been a lot of pressure on the prime minister to act? there certainly has. even the banks came out and climbed on i guess this royal commission, something they've resisted for a very long time. many commentators are cynical about this saying it's an attempt to influence the terms of reference for a commission that was probably inevitable. there are some very high profile cases. it will certainly receive some scrutiny. most recently it was the commonwealth bank with thousands of breaches of anti—money—laundering legislation. there is probably a bigger issue here. phillip lowe came out saying there was a mix of slow wage growth and high debt. house prices are high in australia and if wages can't keep up in australia and if wages can't keep up with the mortgage, there could be big trouble and the real question is, what extent the lending standards contribute to this. this is all a little ironic because these are the same banks that reminded people for years after the global financial crisis that the subprime crisis didn't really happen in australia and that was a sure sign that standards there were very robust. this will certainly be one to watch. the markets here. more falls in china following on from what happened in the us. the dow rose 0. 496. happened in the us. the dow rose 0. 4%. we are going to have a look at that in a moment. on the us markets, s0 that in a moment. on the us markets, so let's. .. there that in a moment. on the us markets, so let's... there we are, the uk markets, that's how we start it off this morning. and samira hussain has the details about what's ahead on wall street today. consumer spending accounts for more than two thirds of us economic activity so it's a really important economic indicator. consumer spending is expected to have gone up about 0.3% in october. now, also in economic news, the personal consumption expenditures price index, excluding food and energy, will likely show a 0.2% rise for the month of october. now, it sounds like it's a big name, but it's actually really a key indicator of inflation and in fact, it's actually the federal reserve's most preferred measure of inflation as well. finally, the biggest us supermarket owner will be reporting earnings, thatis owner will be reporting earnings, that is kroger. the earnings are heating up in america as amazon's 110w heating up in america as amazon's now stepped into the game. walmart continues to aggressively push its grocery offerings. as a result, kroger‘s profits will have been hurt this quarter as it had to aggressively discount items in order to compete. joining us is trevor greetham, head of multi—asset at royal london asset management always lovely to see you. good morning. there is a lot to discuss. we wa nted morning. there is a lot to discuss. we wanted to focus on the rotation, as they call it, out of technology stocks in the us, so the fang, facebook, am zoning, google and —— facebook, am zoning, google and —— facebook, amazon and google. yes. people tend to take profits in things that have done well during the year. there is not a great deal of fundamental reason for a pull backin of fundamental reason for a pull back in tech stocks. put them into context — most of the technology stocks are up 50—60% this year and down 3% in the last few days, so it's not a huge set. it's not a correction. they started the year overvalued. they are a bit more overvalued. they are a bit more overvalued now. the thing is, it's very like the late 1990s where we had good grow but low inflation and low interest rates. that ended well? ! the nasdaq is at a higher level at the peak of that bubble but the earnings have come through massively s0 earnings have come through massively so the stocks aren't as high as they we re so the stocks aren't as high as they were and the economic environment is similar, suggesting there is more upside. when you look at the companies, the fangs, they're companies, the fangs, they're companies that make profits that have a proper business model. look backin have a proper business model. look back in the 90s, there is a lot of .comes that were going up—and—up in value? the bitcoin is the .com. in your opinion, some people say it's not. and driverless cars is the other one. you can't put those two together, can you ? other one. you can't put those two together, can you? ! all you have to do is start a company that has d riverless ca rs do is start a company that has driverless cars and people give you money. there is a bubbly feeling around it. interest rates are extremely low, there are new technology ideas, it's hard to prove someone wrong technology ideas, it's hard to prove someone wrong about how bitcoin and d riverless ca rs someone wrong about how bitcoin and driverless cars are going to be so you tend to get the euphoric rises. if you extrapolate bitcoin, the electricity consumption, if it keeps going up ten times a year, the lights will start going off. if we weave in the oil price, we have got the 0pec members...m looks like they are extending the supply. it looks like a nine-month extension. will that make a big difference in terms of the price fall and what we are spending?” don't think it will. the critical thing with oil is what happens to china in 2018. it feels like they're tightening policy on growth will slow down. commodity prices will remain under control. if china gets stronger, the rest of the world outside the uk is booming, by the way, he could easily see commodity prices surge, interest rates rise rapidly. then we are talking about a big reversal in the stock markets. china is critical. but we think it will be cooling off rather than blooming next year. as a result of some relatively low interest rate environment which will carry on for a while. interesting. trevor will return to look at the papers. he will be talking about the news stories, including alexa. we won't have her onset. still to come... how brexit could lead to thousands of people to rethink their everyday lives on the irish border. you're with business live from bbc news. here in the uk, the government is setting out plans to get one million more disabled people in work over the next ten years. ministers say that the new strategy will not only help those with disabilities get work, but make sure they keep and progress with a job. our disability affairs correspondent, nikki fox, reports. probably a yellow banana. trying out new technology... left edge, 5 feet away. a child consultant, hannah is testing face—recognition gadgets which could help her at work. she lost her sight five years ago and is now registered blind. during that time, she found it hard to get a job. i left uni with a first—class degree in law and i've been turned down from kind of basic admin roles when i had quite significant experience and that sort of thing. some of them, i might not have got the job anyway. some of them, it was quite clear from the questions they are asking, it was because of my disability. the employment gap between disabled and non—disabled people hasn't significantly changed for some years despite a pledge back in 2015 to halve it. today, the government has published a plan that aims to see 1 million more disabled people in work over the next 10 years. we are making progress. we've got 600,000 more disabled people in work than we did four years ago. what we want to do is continue to work with employers, to continue to exploit the opportunities of new technology and to keep testing and learning to find out what works, what are the things that actually can make a difference so that more disabled people can fulfil their potential and get a good job. today's announcement also includes measures to provide access to personalised support for those with mental health issues and an increase in the variety of health care professionals who are able to issue fitness—to—work notices but with employment rates for people with learning disabilities at around 6%, charities are warning the progreess is too slow. nikki fox, bbc news. we found something extremely interesting. you are very excited about it. so basically, morrisons has had to recall a load of chicken and mushroom pie is because they have fish on them. why not just write fish on fish on them. why notjust write fish on the outside and then they could tell them?! there is no health problem. it is just them?! there is no health problem. it isjust a them?! there is no health problem. it is just a wrong. it has got mustard in as well! delicious! read more on the business life page. —— business live. you're watching business live. our top story... oil. a quick look at how the markets are faring. we will regain her composure. sorry. apologies. as you can see in europe we have a mixed picture. the ftse is down. our top story is oil. 0pec and russia are meeting in vienna at the moment. bethany bell will update us. there is expected to be an agreement to keep supplies in place for another nine months. we are more calm now. the brexit negotiations have been difficult over a number of areas — and one critical issue is what happens to the border between northern ireland and the republic of ireland. at the moment there are no restrictions on the movement of people or goods. but could that change. rachel home has been speaking to people who live and work on both sides of the border. the northern irish border is 310 miles long. and every day around 30,000 people across it on one of around 200 roads. this is one of them. just behind me is northern ireland. just over here is the republic of ireland. we have come here to find out if this bridge joins or divides these communities. meet fiona mcgauran. she lives in northern ireland that lives in the republic. when i say border to you. what does it mean? customs, checkpoints, then there is work. t"%t§‘r>‘“€ $52“; q‘s-s :—. we; 5: t"%t§‘r>‘“€ s‘sa's s‘sa'a s. s—as 5: there t"%t§‘r>‘“€ s‘sa's s‘sa'a s. ssas 5: there be problems t"%t§‘r>‘“s s‘sa's s‘sa'a ss sss—as 5: there be problems for t"%t§‘r>‘“s s‘sa's s‘sa'a ss ssas 5: there be problems for me having will there be problems for me having to work in the uk? will i have to get a visa and maybe? uk government have said there would be no physical presence at the border. they can say that but there will be something. it is the only land border between the uk and europe and the world. driving from black lion to beaucoup, if you don't pay attention you could miss the border. you will fill a bump as the border. you will fill a bump as the road surface changes. the border is literally the bump in the road. hello, margaret! margaret was born in this house and has lived here all her life. what are your memories? you were here when there was a hard border. when you cross the bridge, getting a half quarter of hard plug tobacco and whiskey, that was smuggled, as it were. none of those things were allowed out. nobody wants to return to that. it is totally unnecessary. we are all the same people. a bridge not separating us, keeping us together. a bridge joining us is howl us, keeping us together. a bridge joining us is how i see it. us, keeping us together. a bridge joining us is how! see it. nobody knows what brexit will bring. there are still investing in the future.” am open a few weeks. people are wondering what will happen next. it is this uncertainty that keeps everybody wondering. that is not a good thing for northern ireland, southern ireland or europe. brexit when it comes, i hope this will remain. discussions continue hundreds of miles away in brussels. people here are listening but they are worried. or the bridge which today unites them be used to divide them? that was rachel horne. let's look—up theresa may and her agenda at the moment. she is in saudi arabia. the press are giving us saudi arabia. the press are giving us ‘take. saudi arabia. the press are giving us - take. the hypocrisy of us their take. the hypocrisy of theresa may criticising saudi arabia for using the weapons she has sold them is staggering, says this headline. that is because she has raised the humanitarian crisis in yemen and the fact the saudi arabian border is closed. it is a tricky one for her, isn't it? she wants the trade. i don't think she could have gone to arabia without raising yemen. that is a good thing she did that. but it is a bit of a tight rope she is walking in many different ways between her and saudi and herand different ways between her and saudi and her and america. you have got the deal which both the us and the uk are vying for. there is some sort of concern, a race to the bottom in terms of regulation in order to win that listing. some people are quite happy with the fact there is a potential new category in welfare funds to list in the uk. how important is it? to me it is probably something that is a sign of prestige. britain is looking for something to say we are very global and we are open for business. in the end i think it is hugely significant. you have got all of the far right stuff and the tweets. trump trolling theresa may this morning. it is an interesting space to watch. thanks for your time today. that's it from business live today. there will be more business news throughout the day on the bbc live web page and on world business report. we'll see you again tomorrow. good morning. it has been a cold start to the day. temperatures well below freezing. a widespread frost. and also some ice and snow. the air is still coming in from the arctic on these northerly winds. that is bringing some showers towards the north and east of the uk. those falling as snow. even down to low levels in parts of northumberland, yorkshire and lincolnshire. this afternoon those showers will move further inland. still a wintry mix. sunshine further west. temperatures, with the wind chill, it will feel —1 to minus three celsius in places. a cold day. it is the evening rush hour. the real risk of ice with further snow in the north—east of scotla nd further snow in the north—east of scotland and eastern england could see a covering of snow, even at low levels, pa rt of see a covering of snow, even at low levels, part of yorkshire, lincolnshire, norfolk and suffolk. further west, some clearer skies. showers in temperature and cornwall. with clear skies it will turn quite cold quite quickly. the risk of some ice. for the rest of the night, the showers continuing. there will still be some settling snow at times overnight. again, a widespread frost, temperatures not quite as low as they were last night in towns and cities. during friday, again it is going to be a cold day. lots of sunshine in england and wales. fewer showers around tomorrow. for scotla nd showers around tomorrow. for scotland and northern ireland, when we have lost the wintry showers, more cloud moving in, outbreaks of rain later in the day. not as cold. the wind changes direction ever so slightly. we have got a north—westerly wind developing as we go into the weekend. that will bring in less cold air. the oranges moving their way across the uk. more cloud around at the weekend. saturday is a cloudy day. mostly dry. temperatures up cloudy day. mostly dry. temperatures up to five celsius. sunday, a similar story. of cloud, some rain in the south east. for most, dry. temperatures into double figures across the south. more details on the website. bye—bye. hello it's thursday, 30th november, it's 9 o'clock, i'm victoria derbyshire, welcome to the programme. after she told him she was wrong for re—tweeting, donald trump's hit back at theresa may telling the pm to focus on terrorism, not him. plenty of politicians have criticised the president. here is what his spokeswoman had to say. the threat is real, the threat needs to be addressed, the threat has to be talked about. that is what the president is doing, in bringing that up. tell us what you think about this diplomatic row. also this morning, we have a special report how thousands of people are being threatened with prison every year for not paying their council tax. one mother tells us how she how she ended up behind bars. it was absolutely horrific. i was worrying about the kids and nobody

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