tv BBC Business Live BBC News December 17, 2018 8:30am-9:01am GMT
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this is business live from bbc news with maryam moshiri and sally bundock. another weekend of protests take place in france — despite president macron backing down on some of his policies — so what do the protestors want? live from london, that's our top story on monday the 17th of december. tens of thousands took to the streets again — fighting president macron's reform agenda. we'll be looking at what damage has been done to the french economy. also in the programme... nissan's board meets to try and choose a successor to chairman carlos ghosn — as tensions growth with its french partner — renault. the markets in europe have opened and they are in negative territory. and cutting your power and gas bills —
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we'll be hearing from a firm which promises to switch suppliers for you — so you get a better deal — but is it worth the price? here in the uk, directors of firms which cold—call customers could be fined more than $600—thousand. today we want to know is this the right course of action? are you harassed by nuisance calls? what else can be done? let us know — just use the hashtag bbcbizlive hello and welcome to business live. france's president macron remains under pressure, after a fifth weekend of anti—government protests across the country over the weekend. the numbers were down on the previous weekend after a series of costly concessions by mr macron. but some 66,000 "yellow vest" demonstrators still turned out. the protests originally sprung up overfuel tax hikes, before snowballing into broader opposition to president macron, his pro—business agenda and style of government. so far he's cancelled
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the tax rises on fuel, raised the minimum wage and offered tax cuts for low—income pensioners. the cost of the concessions is expected to blow an $11.38 billion hole in france's 2019 budget. and the french government has indicated that its public deficit — originally expected to be 2.8% of gdp next year — could now swell to as much as 3.4%, due to the extra spending. that would be above the ceiling of three percent of gdp set under eu rules, risking a confrontation with brussels. and it's not only government coffers which have been hit by the protests. a major survey of french private—sector business activity showed that output shrank in december for the first time in two and a half years. any figure below 50 indicates contraction. we can cross live to paris,
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to speak to journalist and author agnes poirier. thank you for coming on the programme, give us your take on why the protesters continued to take to the protesters continued to take to the streets despite the changes introduced by president macron. they are continuing but i think we are reaching the end of the phase, the cu re reaching the end of the phase, the cure get it off your chest moment and the deep anger expressed in rather violent ways. especially in the centre of paris. let us not forget that last saturday we saw only a quarter of the protesters on the streets of paris and france concurred to the first saturday, when they took to the streets. i think something is reaching an end but it's only a phase. i don't think
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the yellow vests are going to disappear, not at all. i think they will obviously be a respite and low because of christmas. and also, as you mentioned, president macron did concede quite a lot, he went far beyond, for further, the concede quite a lot, he went far beyond, forfurther, the initial demands from the yellow vests and was the attack on strasberg. but basically what we are seeing next, is the movement to decide what it wa nts is the movement to decide what it wants and decide whether it wants to choose democratic process and become more structured, more organised. there might be splits within the movement because, as you mentioned, it's very diverse, the demands are as varied as they are vague. and we already see different fringes, some wanting to remain radical and just
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to protest and not to send any delegates are representatives meet with the french government and another part of the yellow vests, who are already talking about perhaps having a list, the european elections presenting representatives to be elected as meps. so, you know, it's a tale of different yellow vests in france but as long as there isa vests in france but as long as there is a democratic debate then the yellow vests might represent a new force, a new democratic force in france. we are going to have to leave it there but thank you so much for joining leave it there but thank you so much forjoining us and giving us your perspective on these protests and why they are taking place. as ever, extremely confiscated but we will keep you across the news as we get it. some breaking news now: malaysia has filed criminal charges against goldman sachs and two of its former employees over
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the corruption and money—laundering investigation at state fund 1mdb. a statement from malaysia's attorney—general says the charges are against goldman sachs and former bankers tim leissner roger ng and two other employees. goldman sachs has been under scrutiny for its role in helping raise funds through bond offerings for 1mdb, which is the subject of investigatinos in at least six countries. it's a story on the website, as and when you wish to dig deeper, we are keeping an eye on that story as it on false. —— as it unfolds. let's take a look at some of the other stories making the news a spokeswoman for one of italy's governing parties says the coalition has agreed details of a new budget which it hopes will finally comply with eu rules. the populist government has been battling with brussels for two months over its plans for a big increase in public spending despite the country's high national debt. the fashion and home furnishings retailer laura ashley
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is to close about a0 stores in the uk as it expands its presence in china. laura ashley — which is owned by malayan united industries — has already closed around a0 branches in britain since 2015. high street stores in the uk have had a difficult year as consumer confidence wanes and fewer shoppers visit. the canadian mining company dominion says it's discovered the largest gem—quality diamond ever found in north america. the 552—carat stone, found in canada's northwest territories, is the size of a small chicken egg. it's nearly three times the size of the previous record holder, an 187—carat gem called the foxfire. dominion has described the find as "astonishing". we'd like to see it here in the studio, wouldn't we? a small chicken 999 studio, wouldn't we? a small chicken egg will be about that size so if the owners are watching, please
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bring it in, you will be welcome any time you like. stocks in asia made some gains as investors bought into the market following big falls last week. the focus has moved now to the federal reserve meeting— to update the markets on what the us central bank plans and in china investors await the closely watched annual central economic work conference. let's look at how the european markets have opened, pretty flat right now and still quite a quiet week in the run—up to christmas. and michelle fleury has the details of what's ahead on wall street today. for investors the big event is the federal reserve interest—rate policy meeting kicking off on tuesday. most economists expect the central bank will raise rates for the fourth time this year. traders will no doubt for over the policy statement and analyse the post meeting press conference for clues to the future
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pace of rate hikes. 0verall it's a busy week for economic data starting this monday with the empire state and your factoring index for december. the report for the new york fed which summarises general business conditions in the state is expected to show a drop from last month. a separate report on the housing market is likely to remain unchanged. later in the week watch out for some earnings reports from blue—chip names like nike and boots alliance. tom stevenson, investment director at fidelity internationaljoins us. good morning. michelle talking about some the data and earnings out, eve ryo ne some the data and earnings out, everyone will be looking atjerome powell and his team at the fed. investors worried about two things at the moment, what is going on in china, the slowdown in growth rate and the other thing, what is happening the fewest interest rates. we had the federal reserve meeting on wednesday, importantly there will bea on wednesday, importantly there will be a press conference afterwards. it
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is really what] powell, the governor of the fed has to say about the trajectory of interest rates next year that matters. everyone assumes there will be a quarter point rate rise this week to between two and a quarter and two and a half percent but is whether we get one, two, three or no interest rate rises next year. that's the world's biggest economy but the second—biggest economy, the interesting thing about china, we worry about the slowdown in growth, the size of the dead, on the other hand, we worry about the impact of the trade war undermanned, that's going to be playing on investors minds. the government has twin problems. on the one hand it wants to slow down growth and credit in order to rain to slow down growth and credit in orderto rain in to slow down growth and credit in order to rain in some of the big debts that are a big problem in china. 0n the other hand, the trade wa rs china. 0n the other hand, the trade wars impacting confidence and we are seeing that the retail sales we had last week, consumer sentiment is turning down in china and that's a big worry for the world generally. another word on the us, next year
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than we think about how many rate rises there are, if any, the year after there is an election. they do have an election and the bigger concern for investors is that people are beginning to think there might bea are beginning to think there might be a recession. i know. in 2020. it's the combination of the politics, the slowing of the economy. you have a president you soon economy. you have a president you soon wants to be re—elected, who has real issues with tyrone powell and his team at what they are up to. he absolutely wants to fend off that recession until 2021 if he possibly can. watch this space. we'll keep an eye on him as well. tom, thank you. still to come... and cutting your power and gas bills — we'll be hearing from a firm which promises to switch suppliers for you — so you get a better deal — but is it worth the price? you're with business live from bbc news. starting today, people travelling between south west england and south wales will be able to use
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the two bridges over the severn estuary free of charge. charges on the m4 and m48 severn bridges have been axed after they returned to public ownership last year. tomos morgan is there. talk us through, is it as busy as people predict did it will be? yes, a tap at six this morning there was a tap at six this morning there was a rolling road block of the first lot of vehicles over at the prince of wales bridge here through for the tollbooths are, they have made a gap for vehicles to come through, quite a long line of cues coming through, many commuters humming through every day, lorries, haulage companies, many businesses, people but work and commute over every day. they will no doubt feel the financial pressure has been eased and some people talking about the financial
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roadblock that this building behind me has put on businesses over the yea rs now me has put on businesses over the years now completely gone away. this will be a big hub for the local economy. tell us more about that, we've heard opinions both for and against this idea, as ever, there is against this idea, as ever, there is a hot debate about whether these tools should have been dropped or not? yes, i think from speaking to people locally, certainly cabbies and people locally, certainly cabbies a nd restau ra nts people locally, certainly cabbies and restaurants in the local towns here are looking forward to it, hoping it will bring in more custom for the businesses. the local racetrack in chepstow has often said actually, the toll roads have had an impact on people coming overfrom the south of england, coming to watch races. haulage companies spend hundreds and thousands of pounds each year coming over at the bridges here, that's a huge financial burden lifted on them, however, some of the drivers that we spoke to also warned
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of concerns that this may bring more traffic and of course, government figures have shown actually there will be an increase in traffic, around 25 and 22%, will the reduction in fees create, the creation of more traffic, well but actually negate the loss of the fees because the traffic has built up? interesting debate. thank you very much. your're watching business live — our top story — france has seen france has seen more france has seen more anti—government protests over the weekend despite the concessions president macron announced. the extra spending means ranceis announced. the extra spending means rance is in risk of breaching the eu deficit limit. and to remind you, some breaking news, malaysia has filed criminal charges against
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goldman sachs and two of its former employees against —— over money—laundering investigations. the charges are against goldman sachs and former bankers. along with two other employees. let's take a look at the market, quickly. we have been going for 45 minutes so far in europe. earlier we saw it headed south. the board of japanese car maker nissan is meeting today to decide on ways to improve governance amid tensions with alliance partner renault. renault has called for a shareholders meeting and said the indictment of nissan along with deposed chairman carlos ghosn creates ‘significant risks' to the alliance. first, rupert wingfield—hayes is in tokyo. what is the latest? sally, the saga continues. the nissan board is meeting, initially we thought the
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board meeting which is a regular board meeting which is a regular board meeting which is a regular board meeting but the first since they sacked carlos ghosn as chairman, we understand the meeting is not going to happen today, part of it, we think, to do with the letter that came from the french pa rent letter that came from the french parent company of nissan, renault, which has sent a letter to the nissan board of directors asking, rather the nissan senior executives, management, asking them to call an emergency shareholder meeting. nissan has confirmed that letter has been delivered that they have not given a response. this is, if you like, what we talked about a number of times before, this sort of, the struggle for control of who really ru ns struggle for control of who really runs nissan, who really dominates nissan. it has been for the last 20 yea rs or nissan. it has been for the last 20 years or so, nissan. it has been for the last 20 years or so, pretty much renault that has cold the shots, but it's early cure the nissan management
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here injapan want to readjust, they wa nt to reva m p here injapan want to readjust, they want to revamp this alliance to make it more equal to reflect the fact nissan is now the bigger, more profitable and more powerful company in the alliance. rupert, thank you. now when you take a glance at your finances, one expense which regularly crops up is your energy bill. in the uk alone, so far this yearfive million customers have switched their energy suppliers to get a better deal. that's because the british government — like many others around the world — has introduced competition in the industry to reduce prices. 0ne company trying to tap into the market is flipper, which charges $31 annually to help its members find the best deal. we're joined by mark gutteridge, managing director of flipper mark, what is that in towns? £25. and what do we get? it is free to sign up, we don't charge you
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anything until we get you a better deal with a minimum saving of £50, you get annual membership, we go out to the market, we find the best deal from all the suppliers, because members pay us we don't take commission from any energy supplier, we can switch you to any deal, any time and we continue to check the market every month so if a better deal comes along or something happens we will switch you again and for £25 save money and time and you are buying peace of mind. how many times do you switch people on average? we are unlikely to switch more than four tanzi, people don't wa nt to more than four tanzi, people don't want to be switched that often, but it's about nine months a member spends. —— four times a year. it's about nine months a member spends. -- four times a year. it's not that different to you doing it at all and switching yourself. for those who have the switching market, not but as you say, 5 million people have switched so far this year,
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burst 27 million households in the uk. many people think it's a hassle, confusing, they are quite anxious, what we find is actually, at service enables those people to engage with the market went they wouldn't have before. i try and do the switching thing, being at the nigeljournalist and all that, i feel i could thing, being at the nigeljournalist and all that, ifeel i could have thing, being at the nigeljournalist and all that, i feel i could have an obligation more than anything else, it isa obligation more than anything else, it is a hassle, takes forever and drives me round the twist, something i hate doing. but i wonder, are you making money as a business because you are charging £25 a year or £2 something a month, in terms of how labour—intensive it is. something a month, in terms of how labour-intensive it is. you actually making money? it's a retake intensive, to be fair. the price comparison model still labour—intensive comic you as a customer, enter your details, you see a list of assaults. and in the 10-11 see a list of assaults. and in the 10—11 years since price comparison sites have been around, tech sites
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have moved on. a lot of things that we do is leveraging those solutions to upload the customer bill, run it through tariff tables, there's quite a lot of automation in the background. that allows us to do that in a way we can do for £25. you use an algorithm, explain how that works out the best energy deal. all our tech is in house, built by the team, the savings algorithm we call jules, it doesn'tjust look at team, the savings algorithm we call jules, it doesn't just look at the unit rates, the standing rate or kilowatt hours, it allows for the exit fees on tariff, the number of days it's likely to switch, it can ta ke days it's likely to switch, it can take up to 35 days depending on supplier. what a dollars when it looks at the market every month, it looks at the market every month, it looks at the market every month, it looks at finding the right deal at the right time to optimise those long—term savings, it takes everything into account. looking ahead, 2019 is a difficult yearfor the uk economy and hassles, they have less money, it could be a boost
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for you. we really hope so, we hope that doesn't happen and everything is fine but everyone needs power and the thing for us is, we don't want people to overpay for that. what's the most you have saved a customer? the biggest saving to date was £4000, a shared house in london, quite how we could save that amount of money blows my mind but every week we have new members sign up that said more than £1000. 0n week we have new members sign up that said more than £1000. on an annual bill? annually. market, thank you very much and good luck with the business. thank you. here is how to stay in touch. no, it's not how to stay in touch. no, it's not how to stay in touch. marianne, take it away. from today, british company directors whose firms plague people with unsolicited calls will be personally liable if their company breaks the law.
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i get these, it also drives me round the bend! new legislation comes into effect, which means the uk data protection watchdog can now hold company bosses directly responsible. joe miller has more: have you been injured at work, or been involved in a car accident? these kinds of questions have become the bane of many people's lives. according to new research, three quarters of us get at least once a nuisance call per month, many of which are scams claiming to be from bt, hmrc and talk talk. after some delay, the government is strengthening the law to tackle this menace. until now, only businesses could be fined for nuisance calls and texts and many bosses evaded the penalty by just declaring bankruptcy and opening under a different name. now they can be held personally responsible to the tune of up to half a billion pounds. last year, just a couple dozen companies were fined, but the data watchdog hopes these new measures will lead to more convictions.
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i have regained my composure, and tom is back with us. so good that the government is being proactive about these nuisance calls. absolutely what struck me was how many of these nuisance calls there are. 3.9 billion nuisance calls and texts made to uk households last week. amazing but not surprised, i get a pile of them and they are really frustrating. 0n get a pile of them and they are really frustrating. on my mobile, landline, you have done all the things you should to block them and they still get through. yes. what's also interesting about this, they are broadening the reach because the current bands which started in september is about claims management, ppi, that kind of thing but it's moving in the new year to pensions. this is really important.
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with the pension changes that have been introduced in recent years, there's been a massive increase in there's been a massive increase in the number of nuisance calls relating to pensions. lots of tweets about this, ryan from the us says the finds are excessive of the cold calls are getting annoying. i'm not sure what that's like in the uk but in the us we get calls from foreign companies that hang up and expect you to combat. do you get those? pa rt you to combat. do you get those? part of the advice in this article says one of the things you must not do is call back the numbers because they are requesting you to do that early often. one viewer in 0xfordshire says it's the ultimate beneficiaries of cold calling you should be fined, this would put an end to the problem. who are the beneficiaries, that is the problem. we don't know. these directors, it's quite shady, they are caught, they are punished but then they simply declare bankruptcy and start again. tom, quick word aboutjaguar land
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rover, front page of the financial times, speculating about january, some saying 5000 jobs could be announced as going. this is a big story, when tethered to to govern the company years ago it was a great story. but diesel car sales are slowing fast, the cost of rejigging the business, ready for brexit. slowing fast, the cost of rejigging the business, ready for brexitlj was going to say, you have to mention brexit, a big dealfor the uk economy. we tried to go an entire programme without mentioning brexit. we nearly got there. tomorrow, we will tell you how you can contact us. will tell you how you can contact us. and nuisance callers, we get enough of that already. that's all from us. see you tomorrow morning. hello. compared to the treacherous
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wintry weather we saw over the weekend this week looks much quieter. some wet and windy weather at times but actually for many of us, we start the day with sunny spells. it's what's lurking in the atlantic, this swirl of cloud, quite a deep area of low pressure gradually moving in over at the next couple of days. in the meantime we start this morning with clear skies across many areas. starting off with sunshine across scotland, many parts of england and wales. the cloud increasing across the west, some patchy rain moving through northern ireland, eventually into western scotland, wales, the south—west of england. holding onto brighter skies for longest across eastern areas, temperatures between 7—9d, perhaps 10-11 in temperatures between 7—9d, perhaps 10—11 in the west. the wind strengthening, through the ceiling and night gales around west, more
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significant rain starting to move into northern ireland in the early pa rt into northern ireland in the early part of tuesday morning. some clear spells in the east, temperatures for -5 spells in the east, temperatures for — 5 degrees, staying mild in the west, temperatures still in double figures. 0n west, temperatures still in double figures. on tuesday, quite an area of dark blue, heavy rain for a time, moving eastwards. it won't last that long, the really heavy rain, but it could cause some eruption, the rain moving eastwards, again some drier weather in the far east of england, some sunny spells working through northern ireland and western scotland. windy day for all of us on tuesday. wet weather clearing overnight, low pressure still with us overnight, low pressure still with us through wednesday. the south—westerly wind making things fairly unsettled, plenty of dry weather on wednesday, lengthy, sunny spells as well, if you shower surround the south coast of england, the irish sea coasts into western scotland. temperatures fairly
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similarto scotland. temperatures fairly similar to today and tomorrow, 7—10, 11 degrees. for the rest of the week, the area of low pressure with this, still feeding in south and south—westerly winds, continuing to bring unsettled conditions. there will be some showers around us on thursday and friday. but in between the showers, some dry weather with sunshine at times, temperatures staying between 7—11, 12 degrees. that's all from me. goodbye. you're watching bbc news at 9, with me, annita mcveigh. —— rachel schofield. the headlines: theresa may will tell mps that holding another brexit referendum will "break faith with the british people". work and pensions secretary amber rudd says parliament should consider all options. we need to find out where the will of parliament is, where the majority of mps will vote in parliament and nothing should be off the table — we should consider all options.
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workplace reforms set to be introduced by the govenrment which will make agency workers and those on zero—hours contracts better protected and made more aware of their rights. the online fashion retailer asos has issued a profit warning, after what it says was "unprecedented" discounting and "the weakest growth in online clothing sales in recent years". a hotel in hull has cancelled a christmas day booking
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