Women ever get equal access to the boardroom . We women ever get equal access to the boardroom . We take women ever get equal access to the boardroom . We take a look at some of the challenges they face. Also. Putting health before profits. We speak to the south African Insurance firm that is trying to make the Healthcare Industry more sustainable. And today, we want your views on twitters new concept, which will see messages does disappear 2a hours after being posted. What could it do to the platform, is it a good idea . Let us know. Warm welcome to the programme. We start with the coronaVirus Outbreak. Its impact is being felt across the word, and this friday, the nations which produce much of the worlds oil are trying to limit the damage to their own economies. Members of 0pec and their partners including russia are trying to reach a deal to cut production and prop up the price of crude oil. And here is why. Look at the price of brent crude oil. At the beginning of the year when the first reports of coronavirus began to emerge, it was more than 68 a barrel. It has slumped to 48. The International Energy Agency Thinks Global Demand for oil has actually been falling for the first three months of this year. That has not happened since the Global Financial crisis more than a decade ago. So, 0pec has slashed its estimates for growth this year by half. They have come up with a plan for a big cut in production. But producing Less Oil Means a financial hit for Oil Producing nations, and they have to persuade russia and other non 0pec nations to agree. 0ne 0pec official appealed for nations to Work Together on thursday. Translation todays meeting comes as covid i9 is clearly negatively impacting the demand for oil in 2020, especially in the first and second quarters. This shows that the fluctuation of the oil market is subject to uncertainties that are too much for anyone party to face alone. Therefore, compact challenges require concerted efforts and dialogue. In this regard, our allies are in contact with our partners and friends in the republic of china. Commodities analyst joins us friends in the republic of china. Commodities analystjoins us now from informer. What is the reality, do you think the russians are going to come on board . Well, the reality is that any market cut is going to be at the expense of market share for 0pec because most of the new which is coming on this line at this year is from non 0pec producing countries. So, russia will have to assess weather it wants to cut its market share. Bearing in mind, of course, that china is its biggest customer by seaborne trade so it will have to take that into account as well. And we will see weather they do or not, what view they take, but i think most people would say that the coronavirus issue is going to get worse before it gets better, 0pec seem to be reflecting that in their view at the moment, do they really have a choice, because they cant keep pumping this stuff out and expecting it to be used . It wont be used, the reserves are bigger already . The problem here is that not only is the demand contracting for the First Time Since the financial crisis, but you also have demand being slashed quite strongly in land and air transport fuels, like aviation and jet fuel. And so that is dragging the oil complex lower and is responsible for the continuing fall in prices, because as you have seen, our transport and diesel jet fuel, because as you have seen, our transport and dieseljet fuel, those commodities are no longer in a growth situation. Absolutely, their prices falling again today, it is below brent crude, 50 a barrel, and thatis below brent crude, 50 a barrel, and that is important in terms of shale oil and Gas Production in the United States as well . Typically shale oil is said to be profitable at 50 a barrel, that is the magic spot for them. And because of their falling prices, youve already seen the production of that start to slow. Although it is expected not to be at the levels of last year, it is still expected to account for much of the increase to supply this year, some of that is going to stop. That is the other issue which is weighing on these prices as well. Thank you very much for that. Some of the other stories making the news today. Jamie dimon, the boss of americas largest bank, jpmorgan chase, is awake and recovering well after emergency heart surgery, according to the bank. The 63 year old billionaire has won jpmorgan to the bank. The 63 year old billionaire has wonjpmorgan for more than a decade and is seen as one of the wall streets most powerfulfigures. Virgin media has admitted a data base powerfulfigures. Virgin media has admitted a database containing the personal details of 900,000 people was left unsecured and accessible online for ten months. It says the information was on at least one occasion by an unknown user. It contained addresses and numbers, not, however, passwords orfinancial details. The bank of england governor has said the bank is coordinating with the uk treasury and International Partners to deliver a powerful and timely response to the coronaVirus Outbreak. The Investment Bank Goldman Sachs has said the disruption could push the uk to the brink of recession. Staying with the uppereconomic impact of the coronavirus, more losses on the global markets, in particular in asia. We can now go to our Asia Business hub in singapore, because Monica Miller is watching developments for us. Monica, what has been happening, another major slide of share prices today, i understand . Asian markets have gone offa understand . Asian markets have gone off a cliff. The nikkei ended the trading week with a six month low. The hang seng dropped more than 2 following wall streets latest tumble. The snp global ratings has warned that this disease could wipe out more than 200 billion off the asia pacific economies this year, and that is the lowest level in more than a decade. The Virus Outbreak has already affected tourism. Yesterday we heard the International Air transport association estimating that 113 billion could be wiped away in revenue. And on the heels of that news, Qantas Airways in australia dropped more than 7 , as well as korean airlines, dropping more than 5. 5 . Governments and Central Banks have been trying to roll out stimulus to stabilise the markets but the rapid spread of the disease and the rising death toll are putting a greater strain on economies. Thank you very much. Lets check in with the very latest on the Financial Markets, as monica was saying, the markets in asia kind of fell off a cliff, the nikkei ending downjust of fell off a cliff, the nikkei ending down just under 3 . Of fell off a cliff, the nikkei ending downjust under 3 . The hang seng as well. And this was where the dow finished on wall street yesterday. Airlines again performing particularly badly but falls in many other sectors, too. Trading has begunin other sectors, too. Trading has begun in europe in the past hour, the ftse100 is begun in europe in the past hour, the ftse 100 is also down, as is the dax in frankfurt and the kag 40 in france. So, that slide is continuing. Just looking at the latest figures for the ftse, it is down over 2 now, following the asian lead, more heavy losses on wall street, as we heard, on thursday, and that earlier optimism about government stimulus measures to try and cushion the blow, well, that has pretty much evaporated, as Michelle Fleury reports from new york. While people grapple with how to cope with the virus, Financial Markets are doing the same. 0nce again, us stocks were pummelled. After two days of record points against, the dowjones industrial average fell more than 3 . 29 of the 30 stocks which make up the index finished in the red. The yield on ten year us debt fell to a record low, not exactly a vote of confidence in the Growth Prospects of the Worlds Largest economy. Earlier this week, cleveland Federal Reserve president told the bbc this is going to be a more or less temporary shock to the economy, but how temporary . And that is the problem for Company Bosses and investors. Nobody knows how bad things could get. As one investor put it, there is no way to model this. Will it be worst case scenario, like china, where mass quarantines scenario, like china, where mass quara ntines meant scenario, like china, where mass quarantines meant Economic Activity essentially came to a standstill . 0r will it be something milder . Even all of this, it is hard to gauge what is the right medicine for the world economy. Here in the United States the policy response so far has been an emergency Interest Rate cut. And congress is working on an 8. 3 billion aid package. But again, if you dont know whether the problem is demand, people not buying things, or supply, as problem is demand, people not buying things, orsupply, as a problem is demand, people not buying things, or supply, as a result of business disruption, then how can you administer the right solution . All of this means, expect a lot more volatility ahead in the markets. We shall flourish, thank you. To for our daily look at some of the newspaper and website stories. Joining us is a senior strategic researcher at a property consultancy. Thank you very much for coming in. Lets first of all talk about this one, this is alphabets self drive tech division, and there isa self drive tech division, and there is a real vote of confidence with the amount of money which has been been pouring into this division from investors . Been pouring into this division from investors . Yes, waymo is considered the Market Leader on all things self driving. They are now inviting external investors to invest, which puts a different colour on it. It is nice to see external investors bringing ina nice to see external investors bringing in a bit of capital discipline and also wanting to see some return on the investment rob lee its a fascinating story, not least at one point, it was seen as if the likes of alphabet had stolen a march on your good Old Fashioned carmakers, but this seems to show that they are looking at splitting up that they are looking at splitting up what a car is, almost. Youve got the car and then you have got all the car and then you have got all the clever stuff and they might stick with the clever stuff . Yes, indeed, you have to look where the technology is and if there is other people out there who might potentially be better at some of the other stuff, it might be just as well for waymo to stick out what they are good at. And lets not forget the Capital Investment required on top of that. Lets move on to this story about a personal data breach at virgil. 900,000 people could be affected, their personal details, i mean, there seems to happen again and again, how can companies protect themselves . Indeed, luckily, it was not financial data, it was just names and personal details so i guess users have to be quite careful when being contacted by spam. But companies are trying to do their utmost, but i guess they technology is only as good as the human operating it. Ten months it sat there openly, thats the disturbing pa rt there openly, thats the disturbing part to me, theyre not even monitoring things possibly, properly, it would seem rob lee yes, we are hoping that they will be able to reassure the end users that data breaches are not happening, even if it is Something Like proposing something to make the system safer. So many stories about coronavirus and the impact around the world. This story in the daily mail toilet roll sales for 1000, after panic buyers are stripped the shelves, this is getting ridiculous, isnt it . It is, but it was at auction and it was for a good cause. A good headline but have you been toa a good headline but have you been to a supermarket lately . We are running short of toilet paper, but the solution is not to buy more. The supply chain will stop up again, it is just that they are trying to bridge that. I think we should come clean. If that is the right expression it is a lot of money for a toilet roll, but it was not for the loo roll, really, was it . No, it was an auction to raise money for the australian bushfires. But we are hearing all of these stories about people selling items that people wa nt to people selling items that people want to get hold of, hand sanitisers, toilet rolls, facemasks, for much higher prices online. Sanitisers, toilet rolls, facemasks, for much higher prices onlinelj think amazon already has done some really positive things, trying to diss use, dissuade the sellers, to keep them off the platform, to say, you cant take advantage of that. And rightfully so, they shouldnt. Still to come, making the Healthcare Industry more sustainable. We speak to the Insurance Firm that is putting health ahead of profits. Youre with worklife, from bbc news. Now, following the collapse of Regional Airline flybe, many regions in the uk are now assessing the potential impact on their local economies of the closure of many routes that were vital to small businesses. The george best city airport, belfast city airport, is one of the worst affected. 80 of the flights were operated by flybe. Ben thompson has more for us. Good morning from belfast city airport. An airport that really did rely on the routes that flybe offered, 80 of the flights here were operated by the aligned which went under yesterday. It is a real challenge now. You might be able to make out the logo of loganair behind me, a scottish regional carrier, which has promised to take on two of the 14 routes operated by flybe out of belfast. But nonetheless, Big Questions about the others. And of course, from the regional economies, there are warnings that businesses could be hit hard. So, what negotiations are underway . Ive been speaking to the boss here at belfast city airport. For a year now, flybe have been in difficulty. 0ur priority was to support them but to develop a contingency plan, where we talk about replacing two thirds of our business. That is a sizeable challenge. The good news is, there is Strong Demand for the routes out of this airport, therefore, we have engaged with multiple airlines, we wa nt to engaged with multiple airlines, we want to leave as short a gap as possible so as not to disrupt our passengers, so we can make further announcements next week and start to backfill that gap of 14 routes, that is the priority for route. That is the story here in belfast. But other Regional Airports will also feel this. Newquay, for example, does not have a direct rail service for most of the year, only in the summer season. Even when it does, it takes five hours between london and newquay. The flybe flight tookjust an hour. So, yes, railways might be able to pick up some of the slack in some regions, but for places like belfast, that is not an option, and so, finding new deals with new airlines is crucial. As you heard the boss saying, that is now their top priority, to get some of those routes re established. Ben at the george best airport, worth pointing out, though, right across the uk, creating havoc for an awful lot of businesses. Youre watching worklife. A reminder of our top story. 0il youre watching worklife. A reminder of our top story. Oil prices continue to fall as investors continue to fall as investors continue with the financial fallout of the deadly coronavirus. 0pec considers cutting crude production. Now, healthcare is a big business, of course, across the globe. And it is expected to enjoy significant growth. For discovery, it means more than just profit, the South African insurer began life in 1992, around the same time as the country was coming out of apartheid. The idea was that Health Insurance should follow a more sustainable model. It was also the birth of its vitality brand, is the founder and chief executive explained. Sustainable Health Insurance requires people to be healthy. In south africa, with too few doctors, a disease burden, we we re too few doctors, a disease burden, we were thinking, could we make People Healthier . And we stumbled on the simple idea of incentivising people to change their behaviour. And that became vitality. At that stage, we had no insight about the economics and social purpose yet, we had a very simple idea, could we create a sustainable system . That took us on this journey of vitality, incentivising the change, incentivising the change, incentivising them into Health Insurance. People being healthier and more active, does that not put your business under strain in terms of making profits . I think, critically, our business are com pletely critically, our business are completely lined with people, it is better for them obviously to be healthier and live longer and to be more productive, and it is great for us. So this shared value model emerged on incentivising Behaviour Change and sharing those incentives with people through lower premiums and all kinds of rewards card or your business puts a lot of emphasis on working with technology, why is it so important for a Health Insurance company to be so involved with technology . The whole idea of incentivising Behaviour Changes, you have got to track behaviour, you have got to track behaviour, you have got to use devices to do that. This is wrapped around technology so that it makes it easily accessible and fun, and that is critical. As a Health Insurance company, you have a lot of data about your customers, how do you reassure your customers . We are very, very careful with data. We are very, very careful with data. We tell people that we never use data for anyway to penalised them, it is only for good, only to incentivise Behaviour Change. We are very careful to do personalised data. We are very upfront about that subject. And in many countries we have never had an issue with the data card you have said you want to make millions of people more active and healthy by 2020, how is that going . We are working very hard on this. Our Vitality Network represents 25 of the worlds coloured population, so i think we can get to those numbers. By keeping track of people, how are you actually incentivising them to be more active and healthy . To get people more active, it leads to better eating and stopping smoking. 0ur better eating and stopping smoking. Our data shows it. If you get people physically active, it tends to sustain itself. Your business started in south africa and now it is much more global, what are the challenges facing you in different regions . Our Business Model is to partner with the best companies globally. We have worked with various Companies Across the world. It is intriguing, the markets are different but we have found that incentives and all the factors that affect People Health are very consistent. We are learning how to incentivise change in different markets and we are learning that the power of the shared value model is that people get it everywhere, there is no downside. You are a keen runner, some would say you are a model for your Business Model, how do you fit it all in . I have stayed fit by focusing on intense, small amounts of exercise, five or ten minutes a day of intensity, you stay fit. But sometimes you run six miles to work and back again . |j fit. But sometimes you run six miles to work and back again . I do but honestly i have stayed fit running the stairs at work, i really have. So its just the simple things . The stairs at work, i really have. So itsjust the simple things . The simple things. You need a very short amount of time, with intensity, to stay fit. I would say the more you do it it isa stay fit. I would say the more you do it it is a good thing, but there is no excuse, you can fit it into your daily life and i think it has a profound effect on how you feel, every aspect of your health. Adrian, he doesnt live in a bungalow, does he . He certainly doesnt come . In a moment we are going to run through some of your responses. Run through but first, on sunday, people all around the world are going to be celebrating International Womens day. The theme for this year is, quote, each for equal. 0rganisers are calling on every individual, men and women, to challenge stereotypes and women, to challenge stereotypes and celebrate the achievements of women. In india, the laws have helped make some progress towards putting more women in boardrooms, but still a long way in togo, as we report now from mumbai. This person has been fighting a battle for the past six months for a seat on the board of her company. 0ne past six months for a seat on the board of her company. One of the heirs to the group, a 5 billion conglomerate, which Sells Everything from insurance to fertilisers and auto parts, she says her uncles and cousins are denying her a seat at the table only because she is a woman. While every branch of the family tree is at least one representative on the board, our Family Branch has no representation. This is the only branch that has female heirs and no male heir. This is the only branch that has female heirs and no male heinm this is the only branch that has female heirs and no male heir. It is possibly the most high profile example of the deeps indeed gender bias in india, where women in Senior Management positions are few and far between. The climb up the corporate ladder is a struggle for women not just here in india but across the world. Goldman sachs recently announced that it will not accept all white all male boards. Here in india as well, the regulation mandates that companies of a certain size have at least one woman on the board, and that is bringing about some improvements. In 2012 around 5 of Board Members in select listed companies where women. That figure has risen to 15 in 2019. Industrial giant has been one of indias largest producers of salt, shampoos and hair dyes over the past century. Its Consumer Division has five women on a 14 member board. Its chairperson says it is as much a business imperative as a moral one. Evenif business imperative as a moral one. Even if they are men and children using the products, it is normally the woman who is deciding and shopping and buying. So, how can you not have that representation . And thatis not have that representation . And that is godrejs immediate goal, 5050, that is godrejs immediate goal, 50 50, ora that is godrejs immediate goal, 50 50, or a board that is gender equal. Now, at the top of the show we asked you about your views on twitters new concept of fleets, which will see messages disappear 24 hours after being posted. Do you think it is a good idea . Rather than ask me, we will start with dan, hes pretty clear, it is a bad idea, he says. It will be used by trolls to says. It will be used by trolls to say nasty things and then the tweet will disappear, this will drive more people away. We did have lots of responses. This one says. Nothing truly disappears on the internet, it isa truly disappears on the internet, it is a way to catch people who enjoy self incrimination themselves. Is a way to catch people who enjoy selfincrimination themselves. This one says, it is not a great idea because it is zero accountability, and people will write nonsense, knowing it will disappear. And this one says. Knowing it will disappear. And this one says. It sounds like a product idea being pitched by twitter straight to politicians, a wonderful way to make their words as temporary as their promises. It is a bit harder to track back on what they did ordidnt harder to track back on what they did or didnt say. Dunne says. The Digital Preservation of history is important for future generations. We will leave it at that. Have a good weekend. Good morning. It may be a cold and frosty start to the day but for many of us, it is a fine start, with some sunshine, this morning. There is a bit more cloud across western scotland, wales, the south west of england. Here, we have got a few showers already this morning and they will drift a bit further eastwards through today. They will tend to break up as they do so. There will still be some sunshine here in the afternoon. Some sunshine in Northern Ireland, eastern scotla nd in Northern Ireland, eastern scotland and central and Eastern England. A fine and Sunny Afternoon to come. Tonight, still the odd shower drifting eastward but for most, a dry night to come. There will be some clear spells towards Eastern England and scotland which will allow temperatures to fall below freezing. Further west, with more cloud rolling in, there was a temperatures staying up at about 46. That temperatures staying up at about 4 6. That cloud rolling in harolds change for the weekend. We are going to see some rain. The bulk of it will be saturday night. But it will also be quite windy and that is because low pressure is moving closer to iceland. These weather fronts pushing eastward, that is what will bring the rain. Initially it will be across Northern Ireland and western scotland on saturday. Further south and east, it will be dry and there will be a fair amount of cloud. Maximum temperatures will be higher. But also quite breezy. You can see by the amount of white lines across the uk, we will keep those fairly strong winds as we go into sunday morning. But that weather front will continue to move eastward bringing that rain behind it, colder air digging eastward bringing that rain behind it, colderair digging in. On sunday it, colderair digging in. On sunday it will feel chillier than saturday. Sunny spells and showers, some of them could be heavy. Moving through fairly quickly on that rather brisk westerly wind. 0n the face of it, temperatures 9 12, but it will feel chillier than that. Briefly looking into next week it remains pretty u nsettled. Into next week it remains pretty unsettled. You can see quite a lot of rain. We are still looking at u nsettled of rain. We are still looking at unsettled weather. Youre watching bbc news at nine with me, Annita Mcveigh the headlines as the number of confirmed coronavirus cases in the uk rises to 116, Health Secretary matt hancock says hes confident that Food Supplies in the country will not run out. There is absolutely no need for individuals to go around buying more than they need and in fact, part of the response to this has to be us coming together. It comes as more than 140 british nationals are stranded on a cruise ship off san francisco, which is not being allowed to dock in the city after some passengers developed flu like symptons. At 9. 15, well be speaking to former consultant physician and author doctor frank ryan about how the outbreak compares
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