Transcripts For BBCNEWS Worklife 20240713

The British Engineering firm cancels plans to make an electric car. Its the era of the influencer and not just celebs with massive followings. Well get the inside track on Influencer Marketing, which is attracting billions from brands. And as hmv today opens the worlds Biggest Record store the size of 12 Tennis Courts were asking can a record store survive in the digital age . When did you last buy a vinyl lp or cd . Let us know just use the hashtag bbcworklife. Hello and a warm welcome to worklife, our new business show, and we start with the gender pay 93p its no secret that a gulf remains in many parts of the world, between men and women on pay and career progression. Today marks the uns International Day of the girl which aims to highlight challenges faced by girls around the world and promote ways in which they can become more empowered. One area that clearly needs addressing is the imbalance between what men and women earn. Its estimated that the worlds gender pay gap last year was 51 . At the current pace of progress, it would take 202 years before women earn the same as men, with equal job opportunities. So what does that mean for the cash in your pocket . Well, according to pay scale a woman in the us will only make 0. 79 for every dollar a man earns. Rikke rosenlund, tech entrepreneur and board member at wise, the campaign for gender balance in science, technology engineering. Thanks forjoining us. This is about girls as much as it is about women and the pay. How much really is this for you about getting it right at the bottom and education . Because when that starts to flow through presumably you would hope the pe balance becomes more even. Yes, everything from schools to universities to then afterwards addressing the requirements in the job space. From a school perspective, the Wise Campaign has wonderful tools on the website, but its about making sure they find role models and understand women who have similar interests to them, how did they progress within stem activities and make a career out of it. From a kid prospect perspective, its about understanding who you are asa its about understanding who you are as a person, what you are interested m, as a person, what you are interested in, but if it is stem subjects, its about getting to that place where you are interested. The stem subjects, science, technology, engineering and maths. We are still in the world of trying to shatter those old stereotypes. Currently there is only around 22 of women within stem jobs. Thats within the uk and ireland. In order to get more women in there, its also about using the language around girls, that they relate to. They might be a certain vocabulary that is more releva nt to certain vocabulary that is more relevant to men and another vocabulary more attractive to women. How important is the role of men touring within this problem, addressing that inequality and then trying to get rid of it . Mentoring is essential in the job space. Its about recruiting and then retaining women within thejob about recruiting and then retaining women within the job space. Within the Wise Campaign we have ten steps, where we work with Small Companies as well as big corporations, and advise them on how they can address their gender imbalances within the workspace. How they promote and retain women. Tell me if im wrong here, but i get the sense that girls and young women actually have a much, much stronger sense of self, of can do and ability to do what they want these days. It is a positive story. Yes, and there are a lot of young people who want to make a positive impact on the world too. Coming back to stem activities, you have a quiz on the website where you can have a quiz on the website where you ca n test have a quiz on the website where you can test your personality and from there you can find your role models. Theres always more work to do. Thanks forjoining us. Lets take a look at some of the other stories making the news. Dyson, the uk company best known for its vacuum cleaners, has scrapped a project to build electric cars. The firm, headed by inventor sirjames dyson, said its engineers had developed a fantastic electric car but that it was not commercially viable. He said the company had failed to find a buyer for the project and facilities in the uk and singapore would now close. Japanese carmaker nissan has warned that a no deal brexit could make its European Business model unsustainable. Its european boss told the bbc a 10 export tariff which would apply to its cars under World Trade Organisation rules, would put its entire operations in jeopardy. Britains Aerospace Firms have asked the uk government for reassurance it will remain aligned with key eu regulations after brexit. In a letter seen by the bbc they say continued membership of the European Aviation Safety Agency and keeping eu rules on other areas such as chemicals are vital for their sector. There has been growing concern that existing commitments to keep certain eu rules have been dropped. Now lets turn to the uk, where the pound has had its best day in more than six months, after positive talks between the uk and irish Prime Ministers. Positive talks havent heard that ina long positive talks havent heard that in a long time the uks brexit secretary, stephen barclay, and the eus chief negotiator, Michel Barnier, will meet this morning as talks resume in brussels. Our correspondent adam fleming in is brussels for us. We are all gasping that anything positive has been said by these two at all. Yes, the mood this week was very bad in terms of progress on a brexit deal culminating in chief negotiator Michel Barnier telling European Parliament on wednesday that lots of the proposals put forward by the uk, particularly how customs would be handled in northern ireland, were just unacceptable to the uk. Then yesterday Prime Minister borisjohnson the uk. Then yesterday Prime Minister Boris Johnson and the uk. Then yesterday Prime Minister borisjohnson and irish leader leo varadkar met in the north west of england for three hours, quite a lot of it by themselves without advisors, and they issued a statement saying they saw a pathway toa statement saying they saw a pathway to a possible deal. The mood changed insta ntly. To a possible deal. The mood changed instantly. But to be frank, lots of people working on brexit here are not entirely sure what the two men agreed and are not entirely sure what could have been offered or conceded that could have unblocked the process. I suspect we might find more in the next few hours because the British Brexit secretary steve barclay, will be meeting Michel Barnier, the eu chief negotiator over breakfast this morning and then Michel Barnier will brief the ambassadors of the other 27 eu countries and information tends to lea k countries and information tends to leak out of those meetings. I suspect the best outcome from today will be the eu agreeing to restart negotiations with the uk, but in a way that is more intense and confidential and could potentially lead to a revised brexit deal. Adam, thank you. The markets at least seem to like it. Asian markets rose on friday after signs of progress in the china us trade talks. Meanwhile, the pound held gains after a potential breakthrough in brexit talks. Investors renewed appetite for riskier assets meant a fall in the value of the yen seen as more of a safe haven. Oil prices rose on comments about possible supply cuts from the head of opec thats the club of main Oil Producing countries. A quick look at the european picture with some positive sentiment filtering through to frankfurt and paris. But the stronger pound weighs on the ftse 100 in london, again on the ftse100 in london, again making exporting Companies Less competitive. You can never win on every level. Now to the us, where in the next few hours President Trump is due to meet chinas chief negotiator, vice premier liu he, to try and end the trade war thats rattled the global economy. Vivienne nunis is following the story from new york. All eyes will be on the white house on friday for the meeting between President Trump and chinas lead trade negotiator, vice premier liu he. He is a harvard trained economist and a close confidante of president xijinping. The Chinese News Agency xinhua says beijing is ready to reach a deal, or at least prevent the trade war from escalating any further. There is much at stake. Both countries have already slapped tariffs on billions of dollars worth of imports and the us is said to increase tariffs to 25 30 on certain chinese goods injust four days time. So, we had a very, very good negotiation with china. Theyll be speaking a little bit later but they are basically wrapping it up and we are going to see them tomorrow, right here. And its going very well. Investors have been cautiously optimistic. Us markets closed higher, buoyed by the news of the president s meeting. But in a week where washington also blacklisted 28 Chinese Companies over allegations they persecuted uighurs in western china, its hard to predictjust how these talks will play out. Time now for a look beyond the headlines. Joining us is kirsty bashforth, founder of Corporate Advisory business, quayfive and author of the book, Culture Shift 1 1 good to have you with us. Lets start with the story about dyson scrapping the plans to build and market these electric cars. The firm is obviously very much driven by its founder, it bears his name, an iconic figure. How important it is a leader in this sort of situation, because its a big shift away from what a lot of other companies are throwing their time and money into. It is. I think one of the interesting things about the story is exactly that leadership point. When a company is its leader, and dysonis when a company is its leader, and dyson is its leader, like some other Innovative Companies, it can go from hero to zero quite quickly. So when things are great its all about the leader and their vision, and when things are not going great its about the leader losing their vision. We have seen it with uber and other companies. It is brave to dump it. If it is haemorrhaging money, and this huge amount of money spent, you have to cut your losses at some point, but for somebody like james dyson to say, this will not work. I agree, its a brave decision. In Innovative Companies you will not always get everything right. You have to know when to pull the plug. Its clear he has worked at all right and has to do this. It is brave and has to be done by the sound of it. You have made a beautiful segue into the next story, pulling the plug on vinyl happened ages ago hmv are now reversing the trend somewhat. Young its a really interesting story about hmv opening hmv vault in birmingham, a massive store with huge amounts of products. Bucking the trend on a sector where physical materials are in decline. But this isntjust physical materials are in decline. But this isnt just selling products, its about the experience they are trying to create and how they are trying to create and how they are trying to create and how they are setting up in the local community, hiring people, making a big play about paying their taxes. It seems to be about the way they are doing business, notjust what they are selling. They have the advantage of a Heritage Brand that has been around a long time. That gives them a strength that perhaps others may not have or benefit from if they did try to open up a small time record store that wasnt having it pushed behind it. They do have that brand recognition. They will have to work hard to overcome what some would see as a tainted brand. But you have another injulian richer, Richer Sounds have a legacy and they are doing business very responsibly. There is something about legacy, brand, being bold and experience and responsibility all merging together. Its notjust about the product. But the product ultimately is still the key. This is a huge warehouse of a store which suggests they can honestly believe they can get it mainstream again. Can you see that . I think vinyl and retro is a bit more cool now. I have bought stuff for my husband over the last few years and i still buy cds for my parents. Maybe i will head back to vinyl soon again. But they are hosting bands and making it a whole experience space, so its not just the product. I was going to ask, do you buy physical cds, dvds and records any more because many people are just and records any more because many people arejust digital. And records any more because many people are just digital. The convenience of carrying it around the stop i was marked by my friends for talking about downloading a song. They said theyjust for talking about downloading a song. They said they just stream for talking about downloading a song. They said theyjust stream it all. It has changed radically. Song. They said theyjust stream it all. It has changed radicallylj almost all. It has changed radically. almost think counterintuitively, when streaming becomes the thing, thats when the retro stuff starts to creep up and more people go alternative when something becomes so mainstream as streaming music 110w. So mainstream as streaming music now. Always be niche from now on and you cant beat the satisfaction of rewinding the tape back in when it all becomes unruffled thats enough about cassettes. Still to come. Celebrity influencers, kid influencers, nano influencers. Theyre attracting billions in marketing dollars. Well get the inside track on an exploding sector. Youre with worklife from bbc news. The average Car Insurance bill is now £783 according to comparison site confused. Com thats a £23 or 3 increase on last year. And as the Financial Conduct Authority begins its crackdown on so called loyalty penalties, the survey found nearly half of drivers who recieved a renewal in the last quarter found their insurers wanted £53 more. Amanda stretton is the motoring editor for confused. Com. Briefly explain for us what you mean by loyalty penalties. Loyalty penalties are essentially penalties for motorists who dont shop around for motorists who dont shop around for their insurance when their premium is up for renewal. So they auto renew every year. What our data has proven categorically, and actually underpins that of the Financial Conduct Authority, is that people who do auto renew every year do end up paying in some cases significantly more than if they actually shopped around. 396 is the increase here. I know its an average but its not so outrageous, is it . Its not when you actually look at it. The 3 rise is actually on new quotes. The key here, because you are looking at £23 across the year. The key here is that for the 43 of consumers who actually receive their renewal betweenjuly and september, their average premium was £53 more. It goes to show that if you are automatically renewing you are looking at roughly a £53 renewal whereas if you shop around you will get your policy for less and it may only be a £23 increase. Your website, confused. Com, thats what shopping around is all about. Everybody gets that now. As long as you are prepared to put in the effort then you can get a better deal. Thats absolutely right. We welcome the findings of the Financial Conduct Authority. It shows our Financial Conduct Authority. It shows oui message, Financial Conduct Authority. It shows our message, if you shop around you will save money. The findings will not be out until 2020 but until then we promote the message to consumers, for all forms of insurance and other products, you should shop around because we are sure you can reduce your premium renewals and we will give you £20 as well. Thank you, amanda. Do you shop around . I do. Sometimes you pick up the phone, tell them you want a better deal and magically the quote comes down. Does it make you grumpy . Always. Me too. Youre watching worklife. A reminder of our top story on the uns International Day of the girl, were minding the gap. The worlds gender pay gap was at 51 last year. Now lets talk about social media influencers. Its a world where brands are now cashing in by using online star power to sell everything from shoes to fancy glasses. Its a Thriving Market worth billions and our next guest is one of those whos made a business out of it. Sedge beswick runs seen connects, a company that helps brands work with influencers. Thanks for coming in. You are in the right area, its an exponential growth. Its an odd and to some people still rather cynical field in a way. My name isjoe, im holding up a way. My name isjoe, im holding upa a way. My name isjoe, im holding up a product, they are paying me and people are being taken in by it. Up a product, they are paying me and people are being taken in by itm is cynical but actually the fun bit is cynical but actually the fun bit is when you prove it works. Thats why i set up the agency in the first place three years ago. Its not a space thats going anywhere. Its continuing to grow. Last year 2 billion was spent on Influencer Marketing and its predicted to be 10 billion by the end of 2020. Its come under the increasing glare of regulators because of the trust issue and people not always being transparent about when they are paid to promote something against when it is something they actually and genuinely use and endorse personally. How do you think that will affect the whole influencer world . Will affect the whole influencer world . It will only make it better. The reasons why the regulations have come in this year is because it was the wild west. The influencers themselves are as young as eight or nine years old so they dont know what they should be doing, what they need to be compliant with, and there are responsibilities for platforms like instagram, and the brands and agencies they work with, to educate them to make sure from a consumer point of view the trust can be built. You work with some big companies, but you work with the company in terms of finding a right influencerfor company in terms of finding a right influencer for them. What are you looking for . You refer to the love island example where suddenly a celebrity is created. What do they stand for, nothing in particular, but you can match them to fashion or this or that. I presume companies wa nt this or that. I presume Companies Want more than that, because they wa nt want more than that, because they want value. Whether its want more than that, because they want value. Whether its product, or sentiment or a position or social because. It totally varies based on the business and the objectives. For example, we are doing a campaign with nike at the moment which is around discovering emerging dancers, who are not in the big shows, who dont have contracts and dont have a lucky break yet. They might be nano influencers with only 2000 followers but its about nike anticipating this grassroots talent and helping them grow. Some of the work we do with bumble, around cost acquisition and making sure people download the app and understand its not just bumble dating, download the app and understand its notjust bumble dating, its about bumble business as well, we want to make sure companies, for every pound they spend they get back 11. But the best i managed was £17. And the better i do, the best i can do for those guys. How does that work, is the investment and funding already going to influencers . How much higher realistically . going to influencers . How much higher realistically . I think the big change we will see over the next couple of months is that it will go from influencers being an add on to influencers being a pure play a part of the marketing mix. Budgets for 2020 will be outlined and because television have to wait so long to see what the impact was, and this is quite instant, businesses are starting to invest more and more. When they are spending vast sums on these types of marketing and paying influencers to promote their products, there are some cases where influencers have bought many of the followers, and the followers could be fake bots. How do you square that . Companies will not want to spend billions if the person seeing it will not buy because they are not a real person. Thats what brands can a real person. Thats what brands ca n ofte n a real person. Thats what brands can often mistakenly do. They go through the vanity thing. We have a database that through the vanity thing. We have a data base that flags through the vanity thing. We have a database that flags any fraudulent activity. Its not buying the following, its buying the engagement. If you look at somebodys likes and comments you know its the correct one. But it can be bots. But we can work with people who are genuine followers. Its challenging and fascinating stuff. Thank you for enlightening us further. I should own up, my son rob is an influencer. He has 50,000 followers. He is a bit above his dad but 2000 can do it. Its a fascinating area. Lovely to see you. In a moment well run through some viewer responses to our twitter question, can a record store survive in the digital age . But first, theyre the hated yellow boxes on poles you see on the roadside the world over speed cameras. But the first was made not to slow motorists down but to help one rally driver go faster. Heres aaron heslehursts latest Million Dollar idea. Its the double flash of death you see in your rear view mirror. Its a speed camera. These things capture over 2 million speeding drivers a yearin over 2 million speeding drivers a year in britain alone. But its inventor didnt invent it to slow motorists down. He invented it to make himself go faster. Here he is, morris, a dutch rally driver. In 1964 he designed a speed camera to measure how quickly he took corners. It took one picture to show where your car was on the road and then another a split second later to show how far he travelled. He sold it to traffic cops. There are 45,000 of them in more than 60 countries and 110w them in more than 60 countries and now the company that makes them has sales of more than 50 million a year. He racked up a fortune in fines himself. He said, even i cant escape my own invention because i love speeding. Serves you right. At the top of the show, we asked you about whether you still buy physical music, as the new owner of hmv opens a huge store in birmingham in england. Lets take a look at how some viewers have responded. Jeri said, i bought vinyl for my 16 year old grandson, at his request, a couple of weeks ago. Ann marie says, i buy cds and vinyl. So glad i didnt throw my original albums out. My husband bought me a record player a couple of years ago. I still have them but i dont use them. And martin has tweeted ive got two cds arriving today. Much prefer physical copies, but will download stream if i need to. Thats it from worklife today. Good morning. Theres more rainfall in the forecast and for some of us today its going to be quite heavy. Therell also be some pretty strong winds, especially so around the coasts of england and wales, gusting at 40, 50 mph. The wet weather we have today is all associated with this weather front which is stretching all the way to the mid atlantic. Its what we call a waving front. Imagine flicking a rope and seeing the waves going up and down. Thats whats happening to the rain across england and wales. It will move north, south, north again, and it will bring quite high totals of rainfall over the next few days. Especially so for wales and Northern England this morning, the heaviest of the rain especially over the pennines. 50 70 millimetres which could cause flooding issues. And rain across the south east of england through the morning as well. Further north in western scotland, frequent showers here and there could be localised flooding problems. Heavy rain moving south and east with brighter skies developing in Northern Areas. I mentioned the wind gusts, especially around coastal parts of england and wales, around 50 mph. The temperatures today between 13 and 18 celsius. Through this evening and tonight, the rain in the south east will continue. Showers across scotland are easing slightly, not quite as frequent, but across Northern Areas with clear skies and temperatures dropping to single figures. England and wales will stay in double figures, 12, 13. This weather front will gradually move its way north through saturday. It will remain right across southern parts through the day. It will remain wet across southern parts through the day. Further north, north wales and Northern England, should be plenty of fine and dry weather on saturday. Still showers in scotland but we think it will be dry than today. Maximum temperatures around 14 or 15, may be 16 celsius. Here is the weather front again going into sunday. You can see it moves its way further north, so another very wet day in england and wales. This time i think the rain will extend its way further up into scotland, further rain in western scotland on sunday. Brighter skies for northern ireland, the far north and north east scotland on sunday and temperatures at around 11 16dc. Further heavy rain in the forecast in the next few days. Still worth keeping your umbrella handy. Youre watching bbc news at nine with me, annita mcveigh. The headlines. The brexit secretary, stephen barclay, is meeting the eus chief negotiator, Michel Barnier, as negotiations resume. Both sides hope a deal can be struck following yesterdays positive talks between Boris Johnson and the irish Prime Minister. Fears of a humanitarian crisis in Northern Syria tens of thousands flee their homes. Now there are threats of us sanctions against turkey. The e cigarette industry launches a campaign to reassure millions of people vaping in the uk despite concerns in the us. Who should pay for licence fees for the over 75s . We hear from an mp who is calling on the government and bbc