tv BBC Business Live BBC News February 25, 2019 8:30am-9:01am GMT
you're watching bbc news at 9am with me, carrie gracie. the headlines: a clear favourite at the oscars: olivia colman takes everyone this is business live by surprise by winning from bbc news with ben bland the best actress. and sally bundock. this is hilarious! chinese stocks have their best day laughter. in more than three years — i've got an oscar! after presidnent trump says the us um... will delay an increase in tariffs on chinese imports. live from london, that's our top story on monday the 25 february. green book, about the african—american pianist don shirley, took the coveted best picture award, and also picked up two other oscars. elsewhere, theresa may faces growing pressure to say she will delay brexit, as she holds talks with eu leaders at a summit in egypt. the education secretary says lessons on sex and relationships will be in the last few hours compulsory across all secondary schools from next year. president trump has announced a new survey finds a six—fold donald trump has announced the us increase in the number of "recent" will delay an increase in tariffs on $200bn of chinese goods set for march 1 — averting an imminent escalation in tensions between the world s two largest economies. and who will run africa's biggest economy?
the ballots are being counted in nigeria's closely fought general election. as ever, we keep an eye on the markets, the european markets buoyed by talks on trade tariffs. and with more of us now caring for an elderly or disabled loved one than ever before, we'll get the inside track on how best to manage something that can quickly become complicated and expensive. and as public transport network in london announces a ban on ads for unhealthy food — we want ot know, is this a good idea and will it make a difference 7 let us know — just use the hashtag bbcbizlive hello and welcome to business live. when i saw the headline for that story i did wonder if they were banning junk food altogether on the trains andi banning junk food altogether on the trains and i thought no! where will i get my burgers?
in the last few hours president trump has announced he will delay raising tariffs on chinese goods. a hike from 10 to 25% was due to come into effect at the end of this week. mr trump claims ‘substantial progress‘ had been made during recent trade talks. the president added he is planning a summit with chinese president xi jinping in florida to cement the trade deal if more progress is made. sally. no, not sally, it's me! let's get more from stephen mcdonell whojoins us now from beijing. what response has there been from china, for example? we are not getting much detailfrom either side at the moment. however, everybody seems to be happy that this deadline is going to be extended, even though we don't know how far the deadline is to be extended or anything along those lines because this came, as things seem to be these days, from
donald trump as a tweet. we haven't had an official statement from washington, on the other hand we haven't had a response from bashan, the normalforeign haven't had a response from bashan, the normal foreign ministry press briefing is not on today. it'sjust this comment from donald trump saying it's going to be extended. certainly, the markets have been happy at least with that. it means that this looming deadline, friday, bang, there is going to be a big hike in us tariffs on chinese goods and presumably china ‘s retaliation, that will not happen at least this week. because donald trump is saying there has been progress i guess most people believe there has been some sort of progress towards an eventual deal. and there must be a sense of relief that the potential to up the ta riffs relief that the potential to up the tariffs that was due to happen at the end of this week seems to be put off for the time being? yes,
absolutely. and even though, i have got to say, some confusion about it all. iam not got to say, some confusion about it all. i am not sure if people so this footage of donald trump over the weekend speaking with his special trade representative and sort of debating in front of the cameras whether or not a memorandum of understanding as binding or not and what they should actually call this document. and so, it's kind of chaotic but at least it's moving forward and so, you know, anything is better than an escalation of the war, i think that's how most a nalysts war, i think that's how most analysts would see it. ok, stephen, thank you very much. i was poised, i was ready, i could have caught that ball. i'm so sorry, just checking if you were awake. let's take a look at some of the other stories making the news. a ban on junk food advertising across london's entire public transport network has come into force. posters for food and drink high in fat, salt and sugar will begin to be removed from the underground, overground, buses and bus shelters from monday.
london's mayor sadiq khan says he wants to tackle the "ticking time bomb" of child obesity in the city. we wa nt we want your views on this. send them in. the uk's cyber—security agency, gchq, is warning that britain must understand the potential "opportunities and threats" of using chinese technology. gchq directorjeremy fleming will give a rare speech on monday emphasising the need for better cyber—security practices in the telecoms industry. the us is pressuring its allies to not use chinese firm huawei's technology to build new 56 networks. south african president cyril ramaphosa has announced that a special tribunal committee will be set—up in the country to recover funds linked to corruption. he said the tribunal would consider cases brought by the special investigating unit. mr ramaphosa has vowed to tackle corruption since coming to power. now, let's turn to nigeria, where counting is underway to see if current president muhammadu buhari will be
victourious in his efforts to win a second, four year term. his main rival is former vice president, atiku abubakar, who is seen by many as the ideal man to lead africa's biggest economy, with his own pro—business and free market ideas. for more on this we're joined now by our correspondent tomi oladipo who's in abuja. i know they are counting at the moment but is it too close to call? what are people saying about the outcome? it certainly is too close to call at the moment. the electoral commission is supposed to be opening its collection centre in about 90 minutes and we will be able to hear or see what is going on from around the country, the results should be trickling in from there. but it's still very difficult. my own prediction is that we will still have to wait until possibly tomorrow, tuesday, to hear or have a
clearer idea of who will be winning this election. but the stakes are very high. you know, it's africa's largest population, it has one of the largest economies on the continent, arguably. this is a country where there is so much at sta ke, country where there is so much at stake, to revive the economy which has been struggling in recent years, especially with the fluctuating price of oil which this country so heavily depends upon and of course, issues around security, issues with infrastructure as well. so i think is this stretches on for a bit, there will be continued uncertainty. for now, thank you so much. we will talk to you again when we get the result. the world's biggest mobile phone conference gets underway in barcelona today. the main focus at the event is on 56. our technology correspondent rory cellan—jones is there for us. it's a regularfor you, we have bendy phones and all sorts! tell us about the big talking point this
year. yes, to sum it up, 56 and folding phones, the next generation of mobile phone networks, we've been told about it for a long time but it's finally coming, we are promised, later this year. it's finally coming, we are promised, laterthis year. it it's finally coming, we are promised, later this year. it will connect everything, this car one of the things that is connected to these new five g networks as cars, all sorts of other objects. big security issues there. folding phones, because suddenly mobile phones, because suddenly mobile phone makers have decided we are bored with rectangular slabs, we wa nt bored with rectangular slabs, we want bigger phones, tablets, that we can fold up and become adaptable to a smaller phone. and it all came together with the chinese giant launching a 5g foldable phone. and talking with great gusto about this and how it's better than the samsung equivalent launched a few days ago. overshadowing that the continuing security questions about far away. that is the dominant talking point, will european operators be allowed
to use this as they rule out the 5g network? rory, thank you. we will see you again soon. $2600 for that foldable sg see you again soon. $2600 for that foldable 56 phone. see you again soon. $2600 for that foldable 5g phonelj see you again soon. $2600 for that foldable 56 phone. i will look forward to that gift from you, sally. let's look at the markets, a surge in shanghai leading the asian markets, that's after the warm sounds coming from trade talks between the us and china and the delay in the possible height and import tariffs. the naked climbing to levels last seen in december. the news rippling through currency markets. let's flick the boards and look at the european markets. you can see the optimism spreading, creating positive sentiment across the european indexes. with mentioning oil prices dipping, they've been dragged down by plentiful supply as us exports soar and compete with traditional producers from the middle east.
this week should offer a fuller picture of the us economy. the index forjanuary is due out on monday, to gauge economic activity and inflation pressures, it offers a snapshot of how the midwest economy is faring. later in the that will reserve chairman jerome is faring. later in the that will reserve chairmanjerome powell will give his take on the outlook for the economy and the central banks monetary policy plans, that's when he testifies before congress on tuesday and wednesday. and the commerce department is expected to publish its first look at fourth quarter gross domestic product on thursday. you may recall the data was scheduled to be released at the end of january but was delayed along with a handful of other economic reports by the 35 day partial us government shutdown. we cannot forget that, really. joining us is kokou agbo—bloua,
global head of flow strategy and solutions at societe generale that is quite a title. welcome. we are going to find out quite a bit about the us economy this week but firstly, let's get your take on the trade therapist moment. good news today for financial markets but the question is will they get to a deal or not, that's what we want to know. absolutely. i think this has been for a file the path of least resistance. the us clearly slowing down when you look at the fears on the bond market and with its big non—performing loan problem, the slowdown in growth has also been a problem. this sort of trade deal is interests but the us and the chinese government. we heard there, michelle referring to the testimony from jerome powell later this week. the fed striking a dovish tone from its minutes last week. and that really reassuring equity markets as well. absolutely, you remember last year
in november, december, they were horrendous in terms of market performance. jerome powell the fed chairman, clearly had a major u—turn by being dovish when he's been very hawkish for the bulk of 2018. today, there is a bit of a disconnect between the worry of the fed and the strength of the equity markets. as your glass half empty or half—full? get my words out, you know what i mean. are you optimistic or pessimistic as go forward? it's a difficult, you can think of a pessimist is an optimist with experience but the real story with investors is clearly a recession or not in 2020. and signs of a slowdown. and i think this is where we can think of the central bank is activist for investors dry to employed another 2008 meltdown. that's a bit of a sitting on the fence response if you don't mind me saying. it is. we will let you off now but you will be back later to
talk ina now but you will be back later to talk in a number of issues including junk food ads removed from london. still to come. more of us now caring for an elderly or disabled loved one than ever before, we'll get the inside track on how best to manage something that can quickly become complicated and expensive. you're with business live from bbc news. the publishing group reach — the largest owner of regional newspapers in the uk — has released its annual results this morning. the group which owns more than 260 titles, including the daily express, sunday express, daily star has reported an increase in its profits. theo leggett has been looking at the numbers for us in the business unit. the core business unit doing pretty well, profits up about 16% at £142
million but that is an adjusted figure. take into account the rights and the company had to take during the year against the declining value of its regional businesses which could be struggling for advertising, thenit could be struggling for advertising, then it was actually a loss of £120 million but that said, the business is looking reasonably resilient. revenues have remained relatively strong despite what it called the structural decline of the newspaper industry. the print titles. so, shares in the company this morning is to be known as trinity mirror, now called reach plc, up quite strongly this morning, investors clearly liking what they see but what you have to look into in these figures as the transition taking place within this and other media businesses. it's based on traditional print titles, but those titles are declining, revenues from them are declining and the company is saying it's pinning its hopes for the future on digital and digital advertising, lots of websites,
digital advertising and hoping that will continue to take up the slack as the print titles go through what is basically a managed decline. the publisher also weighing in on the brexit debate, using his chance as the results come out. yes, saying it expects things to be reasonable over the next year or so provided there is no adverse effect of brexit and i can quote what was said, subject to there being no significant adverse implications arising from the uk exit from the european union we are confident the strategy can support progress and cash flow. that's very specific, things will be ok so long as brexit is not disastrous. theo, thank you. another company, hammerson has its profits out today reporting a loss from last year saying it's been so challenging because of uk property values falling significantly.
your‘re watching business live — our top story — donald trump has announced the us will delay an increase in tariffs on $200 billion of chinese goods set for march 1 a quick look at how the markets are faring . breathing a sigh of relief. in europe right now, all of them are slightly higher as we start a new trading week. 45 minutes into the day in europe. now, caring for an elderly, ill or disabled relative can become a full—time job — add money into the mix and it can all get really complicated quickly. often, local authorities are not much help because many can't keep up with the increasing costs or scale of care. in the uk alone, two million elderly people have a care—related need and four million will need daily help by 2029 — that's according to a study by age uk and deloitte.
well, supercarers, which was founded four years ago by brothers adam and daniel pike, aims to address the problem by making all aspects of care simple — from booking shifts right through to paying invoices. and adam joins us now. i imagine viewers can relate to this story. why did you found the company? like many families, we watched our mother and auntie give up work and care for their mother and that was extreme a challenging because put enormous pressure on the family so for us, what's really important is how could you help people, families, to find carers living in their local area and by connecting people locally, i think care can be much more meaningful as a consequence. think care can be much more meaningful as a consequencem think care can be much more meaningful as a consequence. it was your grandmother we were talking about, she went into residential ca re about, she went into residential care eventually and you felt her own well—being declined at that point?|j
think for many people, the majority, they would rather be cared for in their own home but for her, residential care was a last resort but unfortunately the carers change regularly, she had early onset dementia so it was very hard for her as an experience living in what was essential institutionalised care. she would much rather have been at home but the same goes for most people in this country. as i understand, your company says it cuts out the need for agencies, reduces the cost of professional ca re reduces the cost of professional care but also means more money for the carers themselves. how on earth do you manage that?” the carers themselves. how on earth do you manage that? i think two ways, we use technology to reduce the high overhead costs of bricks and mortar agencies, for example, the high overhead costs of bricks and mortaragencies, for example, we are able to help families pay carers directly using a platform and as a consequence that reduces administration costs. second we are an introductory service, we do not direct and manage care ourselves, we help families to find high qualified, professionaland experienced carers and as a
consequence the relationship is direct so families know who is looking after their loved one. you operate this nationwide, everyone worries about abuse, so how do you that the carers? of course, of course. a range of ways, enhanced criminal record checks, identity checks, i would call those the basics, hygiene checks. on top of those reference checks, experience checks, qualification checks, of course you can be who you say you are but do you have the qualification and experience to provide an standing care and references to make sure but you meet them as well, don't you? the testis would be like this person to ca re testis would be like this person to care for our grandmother. we have a nationwide network of incredible people. the care they provide a outstanding. they are motivated by money —— micro they are not motivated my money but by the care they provide. we know the pressures of adult social care are huge but
have you had any interest from local authorities in using your model? the answer is yes but i believe it's challenging for local authorities now to embrace innovative models such as ours. last year there was a crisis with allied health care that provides a vast number of hours for local authorities and as a consequence, it's been very difficult to make progress but we are there, ready to work with local authorities up and down the country because again, if you want to provide high quality but affordable care, models like ours are the only viable option. the health care service in the uk and i would imagine social care as well, it's going to be usually challenged by brexit. how will you be impacted? i prefer not to talk about brexit because i think it's dominated too much by news headlines and is being used as an excuse to justify the delay to the adult social care green paper. for me, it's very simple, this is a workforce challenge, by 2025 there will be almost a million to few carers to care, as we looked
at the teaching challenge how can we encourage people to get into the caring profession, how can we encourage people who might have gone to work for supermarkets, retail leisure, to get into caring careers and for us, i think that's really important if we are going to care for a vast number of ageing people. i understand a couple of other companies do a similar thing to you. of course. there are companies like us who help to connect families directly with local carers but there are six and have a thousand traditional agencies up and down the country, it's so fragmented so for us, ithink country, it's so fragmented so for us, i think the benefit of creating scale is sharing those costs back with families. could this work abroad? with families. could this work abroad ? internationally with families. could this work abroad? internationally or are you to uk ochres? we are uk focused but as we said earlier the challenge of ageing is worldwide. and there are opportunities for us elsewhere which we are excited about. you call yourself the super care achieve, is that right? the cheap super carer. adam, thank you. we'll go through
the business pages but here's a reminder how you can get in touch. stay up—to—date with the business news as it happens on the bbc businesslike page. insight and analysis from our team of editors around the globe. and we want to hear from you. around the globe. and we want to hearfrom you. get around the globe. and we want to hear from you. get involved on the business life web page. and you can get involved on twitter. and you can find us on facebook. business life, on tv and online. what you need to know, when you need to know it. you have no excuse. the conversation we asked you to get involved in today kokou agbo—bloua from societe generale joins us again
we think about the advertising space, then we travel around the city, its all food, isn't it? absolutely, look at the data from public health england, 30% of 10—11 —year—olds are overweight or obese, this is a crisis and looking to the us as an example, things clearly get worse. you think it's a good idea? absolutely. i think advertising influences peoples choices and behaviour and the only downside to this is whether we are hitting the population and the targets because the question is how many of those kids really look at what's happening on the subway. quite a lot of tweets from people at home. susan says people will eat it, they already know where to find this kind of food. we heard from annie, as long as they don't replace them with gambling ads, i'm sick to the back teeth of kisumu and bingo ads, they are horrible. seve says it will make are horrible. seve says it will make a difference otherwise companies
would not be paying for adverts. a selection of your tweets and thank you. we had this really interesting story about what an oscar—winning is really worth when it comes to a movie. the oscars happened overnight, greenberg got best film, quite an interesting article about the benefits of an oscar to your movie. they talk about the oscar bump and it's something, the artist, for example benefited from another question is whether in terms of audiences, it has the same impact and one of the things that's clearly obvious is the impact of technology and social media being disrupted. personally i don't think i will look at the oscar as much as compared to the imdb data and peer review apps. that's interesting, the la times which features this article highlights two examples, the artist which won best picture in 2012 got a 30% surge in business in ticket sales afterwards. however spotlight which won best picture in 2016 it
studio filed for bankruptcy last year. it suggests maybe we are not swayed, do you go and see if film purely because it won an or not?” think it's part of the data or the sort of, sources of information i look at but it won't be the only one. what was the last when he went to see because it won an award?|j to see because it won an award?” think the kings speech, probably. that was very good. the oscar obviously is a stamp of quality and review but i do think that peer reviews is also quite valuable as a source reviews is also quite valuable as a source of information. something your friends would recommend, for example. the last one i went to see was la la land. these days, i'm more swayed by what people are saying, friends and family saying here is what you should see more so than awards but that's just me. what you should see more so than awards but that'sjust me. thank what you should see more so than awards but that's just me. thank you for joining awards but that's just me. thank you forjoining us. great to have you here. and thank you for your company. we will see you soon. goodbye. goodbye.
hello, good morning. we should remind ourselves it's february and temperatures should be 7—9d. but the air is coming all the way from the south. you can see these oranges and yellows across the uk, temperatures way above average for the time of year and way above average for the time of yearand infact way above average for the time of year and in fact yesterday in wales, we broke the all—time february record. 19.1 celsius. recorded yesterday. through this morning, we have patchy fog but over the next few days we continue with warm sunshine, still some rather frosty nights and foggy mornings later in the week turning a bit more u nsettled the week turning a bit more unsettled and without some slightly cooler weather moving inwards. through this morning the fog clearing away across northern areas,
looking at lots of sunshine, blue sky throughout this afternoon. the sunshine perhaps az in northern ireland and across scotland, rain moving northwards across the northern isles, temperature widely 13-16d, northern isles, temperature widely 13—16d, one or two spots in west wales, to the north—west of london could reach 18—19d. through this evening and overnight some frost developing. with that some patchy full, especially around central and southern areas, temperatures across many areas close to freezing, 0—2, three degrees, but through tuesday, is settle day with this area of high pressure dominating. a weak weather front straddling scotland and northern ireland, that will bring cloud again for tuesday. going to be a dry day, hazy sunshine in the north and west. elsewhere after the fog clears, lots of sunshine into the afternoon, temperatures, once again, getting up to 13—17d. perhaps
higher than that in one or two spots. during wednesday morning some fog especially across south wales, the south—west of england, there will be a cloudy effect in the far north—west of scotland, temperatures are starting to come down a notch, i3, are starting to come down a notch, 13, i4, 15 are starting to come down a notch, 13, 14, 15 degrees are starting to come down a notch, 13,14,15 degrees during are starting to come down a notch, 13, 14, 15 degrees during wednesday and as we go through the end of the week, we started to pick up more of an atlantic influence, more weather fronts moving their way in. changing the wind direction slightly. there is still looking largely fine and dry but as we go through to friday and the weekend, we pick up cloud, some rain around, temperatures more like ii—i2d. some rain around, temperatures more like 11—12d. that's all from me. goodbye.