Be giving us The Inside Track. What we are sharing, what we are liking and how valuable that data is. And, The Red Telephone Box is 90 yea rs and, The Red Telephone Box is 90 years old, so it is overdue for a makeover. It is all about getting a new age to look. When did you last use a phone box . Use the phone use a phone box . Use the phone use the hashtag. Welcome to the programme. One of the worlds Biggest Energy companies bp has seen another sharp fall in its annual profits. Its of particular interest this time as oil prices have been recovering thanks to the agreement reached at the end of last year between the oil cartel 0pec and non members to cut production this year. The compa nys preferred measure is underlying replacement cost profit. That came in at 400 million in the last three months of 2016. That means that for the year as a whole bp made 2. 6 billion, a 55 fall on the year before. But chief executive bob dudley said that the year had seen significant strides in creating a stronger platform for growth. Looking back to the beginning of last year, you can see the shift in the price of oil on global markets. It bottomed out at 27. 88 a Barrel Injanuary 2016. And on monday it was Trading Atjust over 56. Bps competitors are also struggling after two years of low oil prices. Last week, us giant exxon mobil reported a 51 fall in full year profits and Royal Dutch Shell a 44 dip. There are wider challenges for bp and others in the industry, including Funding Investment in new oil projects, the rise of Renewable Energy sources and for some a concern about their ability pay to shareholder dividends. Our Business Editor simonjack is with me. Give us your take. On paper they do not look brilliant. The replacement cost profit, which adjusts for the fluctuating price of oil, is half of what it was last year, looking pretty bad. But bp has legacy issues. In 2010 we were reporting on the deepwater horizon explosion, they had to put 63 billion into cleaning that up and compensating people, and 7 billion claim in the last year. So although the Headline Numbers look worse, this was a year when they started turning the corner. We have to remember that, because that was an enormous event, massive cost, and many analysts say bob dudley has steered the ship extremely well, given the challenges. This will be the argument that comes up when we Start Talking about his pay. There was a massive shareholder vote last year, he got paid £40 million in a year when bp lost 6. 5 billion. If they are making more money this year, goodness knows what they will pay him. 0rdid he goodness knows what they will pay him. Or did he do a betterjob this year than last . He adjusted to the massive crush in price, the clean up the gulf of mexico, some people think, given the hand he was dealt, he did not do a bad job. They say they are keeping the dividend in place, which is important for these companies are. And for pensioners and anybody who has savings. What 110w and anybody who has savings. What now for bp . They have streamlined the business, it is a shadow of the business it was before the explosion in the gulf of mexico. They have scaled back in the north sea as well, they have mothballed their drilling off the Southern Coast of australia, but they are hanging on. They have discovered more oil than they sold last, so that gives you an idea they are expecting to be able to balance their books at 16 dollars a barrel. 60. The Dividend Yield is 6 . When it gets that high, a lot of investors think it cannot last, but they are convinced it is ok for the time being. Because of the disaster in the mexico golf, it is not where it was. It used to be slightly ahead of shell. It is very much an American Company as well, when the american operations got hit, it knocked the stuffing out of bp. You could argue that slimming down the company at a moment when oil prices collapsed was not a bad thing. It imposed a bit of discipline. They are not the same company they were. They are in better shape than a couple of years ago. As we have already mentioned, their shares are down today by 2 on the ftse 100. In other news. 30 more Us Technology firms have signed a brief opposing president trumps immigration ban, bringing the total number involved to 127. The new signatories include tesla, adobe, hp and evernote. A Us Federal Appeals Court will hear arguments this tuesday over whether to restore president trumps travel ban on people from seven mainly muslim countries. The president of the European CentralBank Mario Draghi has rejected claims that germany is manipulating the value of the euro. It follows comments made in a document published by the us treasury, which accuses germany of undervaluing europes currency to hurt the us economy. A south Korean Company wants to buy part of toshibas memory chip business. Sharanjit leyl is in singapore. This is all about sheep are needed to raise some funds pretty quickly . It is. It is notjust any old chip maker that is looking to buy the sta ke, maker that is looking to buy the stake, it is the world like second largest chip maker after some song. It is all according to sources in local media and elsewhere, that they have submitted an initial bid, although the size of the stake has not been decided. Toshiba needs to raise funds to offset a multi Million Dollar write down it has had on its American Nuclear power business. Both spokespeople from both companies have not commented on the specifics of the process , commented on the specifics of the process, but analysts say that hynix would benefit from toshibas technological know how. Their products are used in long term data storage. Demand for these chips has risen sharply, mainly due to the growing need for quicker processing of smartphones and other mobile devices. At the same time, toshiba is planning to stop building Nuclear Power plants, after incurring liens of dollars of losses. 0vernight, the us and asian markets were down. The dow was pulled down by a fall in oil price, while markets also continue to wait for detail on Donald Trumps economic policies. And that uncertainty over trump was also one of the factors causing the asian markets to fall, yen and gold rising as investors look for safe havens. There are also concerns about the Upcoming European elections, so lets see how the european markets are doing. They have been open for four minutes 40 minutes. And Samira Hussain has the details about whats ahead on wall street today. Company earnings continue today. The largest American Auto maker General Motors will report. Americas Auto Industry has received a lot of attention from the president. He wa nts to attention from the president. He wants to see more jobs created here in the us. We cant be sure that their earnings, which are expected to capa their earnings, which are expected to cap a record year, could get some attention from the commander in chief. Walt disney will also report earnings, it seems the success also report earnings, it seems the success of its latest Animation Movie will help revenues for the quarter. But the last few months have not been too kind to them, it has not had that many put dusters. Investors will be paying attention to the Sports Network espn, which is the real cash cow for them. And rachel was sinking let it go can you do a rendition . Nobody needs to hear that joining us isjeremy cook, who is Chief Economist at the currency traders world first. I have not seen the letter macro frozen i have three boys, but i managed to get one of them to watch it something we must not avoid, how china is propping up its currency. It is burning through its currency reserves. It has three delian dollars of reserves. 3 billion. 3 trillion. The chinese currency has weakened a fairly dramatically. A lot of fears are bound the donald trump presidency, whether he calls china a currency minute later, as he threatened during the campaign. With increased outflows, people moving money out, we have seen the people. I could china stepping in and burning through money that they may have in reserves to make sure the currency stays stable. It is subject to keep an eye on as far as International Trade businesses go. They need to make sure they are protected against that. We mentioned on the market is the French Market is down slightly. The markets have been burned by politics repeatedly in the last year. French elections coming up, the markets feeling pretty wobbly. We had a big speech from Emmanuel Macron last night. From toffee the has issues around nepotism and his wife taking a job from him. Marine le pen is still in the lead as far as the first round poling goes. We have seen in asia in the recent weeks concerns around what happens with this election, whether we start to see further pressures on the euro. There is political risk, because we have france, The Netherlands and germany, and germany, their industry or Production Numbers are quite bad for january. Production numbers are quite bad for january. They were down about 396, the worst number for a fair while, and also a recent poll suggests Angela Merkels party are now second in the polls. It will be an interesting year for germany. A lot for markets to keep their heads around. Jeremy, you will tell us when you were last in a Telephone Box later still to come, well speak to the Man Turning Social Media into popular media as we get The Inside Track on how news stories are tracked across the internet. Youre with Business Live from bbc news. The government will be setting out plans later today to tackle what theyre calling england and wales broken housing market. The government says 250,000 new homes are needed each year and have admitted they are lagging behind schedule. Ben thompson is at a house factory in alfreton. Sorry, this is then earlier, who shared some news on that story. 0ur Prefab Homes the answer to our Housing Crisis . They say so. They build these things in less than eight weeks, from start to finish. What do they look like . 0n the left, the toilet, the stairs, this is one of the bedrooms, and here you get the kitchen. What is different is that everything is done right here in the factory. The fridge is already installed, there is a dishwasher with all of the plumbing, the oven and the hob are in. This houseis the oven and the hob are in. This house is good to go as soon as it leaves the factory, it just house is good to go as soon as it leaves the factory, itjust needs to be plugged in. Is it enough to solve the Housing Crisis . The government set a target of a million new homes by2020, set a target of a million new homes by 2020, building a 300,000 every year. At the moment we are building less tha n year. At the moment we are building less than half of that. Today the government is unveiling a housing white paper, with rules and regulations that will encourage the House Builders to get more homes built. Will it be enough to help drink down prices that have meant many people cannot get on the ladder at all . We will find out if and when the House BuildersStart Building more homes. I thought we were going to talk to ben live, i am a bit disappointed we are missing ben. Good news from hornby. They have had a rough time for some time. Their Turnaround Plan is on track. Again picking up steam for your again picking up steam foi your revenues again picking up steam for your revenues will still go down slightly, but they have sold their site in margate for £2. 25 million, and they think things will get better for them. They have and they think things will get betterfor them. They have been struggling, because the demand is going down, but also the weakness of the sterling has hit the company hard, they have been battling with the weakness of sterling since the decision in june last the weakness of sterling since the Decision Injune last year to exit the eu. Youre watching Business Live. Our top story The Oil Giant Bp has seen another sharp fall in annual profits. It made 2. 6 billion in 2016 which is less than half of what it made the year before as it continues to struggle with low oil prices. A quick look at how markets are faring. Bp is bpisa bp is a big factor for the bp is a big factorfor the ftse100. At the open of trade bp fell down around 2 . The ftse is the one market with its head above water. Germany and france down slightly. How can you tell if a story is going to go viral . Its not all about the Entertainment Value increasingly Companies Want to track what consumers are saying so they can identify the content thats most effective for their business. For those in the know its called social velocity, a formula of the tweets, shares, likes, comments and other social interactions. 0ne Firm Harnessing That Technology Is Dublin based newswhip. Its Analytics Software processes millions of news stories every day, from videos to social media posts in more than 60 countries, predicting which will grab those eyeballs key in the internet age. Newswhip now has more than 320 clients globally. Customers include media firms, such as Associated Press us here at the bbc buzzfeed and the guardian to big corporate brands including reebok, intel and mastercard. Well, we arejoined by the companies co founder and chief technical officer, andrew mullaney. Good to have you on the programme. Thank you for having me. Good to have you on the programme. Thank you for having melj good to have you on the programme. Thank you for having me. I know here at the bbc were obsessed with what newswatchers are looking online and what digital video theyre downloading and why and how many shares, how many likes, that information is what you provide . Absolutely, yeah. For the first time we can really measure what people ca re we can really measure what people care about in real time. So, thats what all our customers use it for is to understand what type of content engages people on social media. This is something you were providing this information to consumers, but you flipped to provaid a service to businesses. Was that purely based on financials . Not really. We noticed that the journalists and the media creators were using the free service way more and that they wanted much deeper features. So we decided to concentrate on providing for these people and of course, there was a financial benefit as they can pay whereas most newsreaders are free. So what caused you and your co founder to start this . Why did you think of this business in the first place and it is dependant on your technology, isnt it . Absolutely, yes. Paul started out creating normal news and noticed the difficulty in trying to make money online so we were both involved in start ups at the time and we were discussing ideas and i said well, maybe consider trying to figure out the good stuff. There was so much stuff out there and he noticed the journalists were obsessed with the social numbers of their content and thats where the idea came. He said why not try and get the social numbers for all content out there and see what happens and thats where it started. Now, you cover 60 countries. Im interested to know how do you work out what people are going to be more interested in because you also try to predict it. So is there a story that has global appeal or do you find certain countries are more into Sports Stories or Human Stories . Were measuring these huge amount of data signals, but it is all about Human Engagement and there is a human being behind all of these engagements. So the types of content that can do well for example are one we saw the other day which was this kid that got lost in canada in the freezing cold and fell approach sleep in the snow and his dog came out and lay on top of him to keep him warm and kept him alive. This did very well in this local area and got grabbed by the bigger Media Agencies because it is a beautiful story. The bigger Media Agencies, people like the bbc who pay for your services, what is it that theyre getting out of it . Youre telling them well this story was really important, are you expecting those companies to make decisions about where to put stories on their website in order to get more online users . Absolutely, yeah. To understand everything from, you know, what type of headlines you use, what length of video, what type of words do you use, you know, which stories are of interest and also maybe where to concentrate their journalists because now they can tell in real time where the engagement is. So whats going to be next on your radar as it were . I would imagine when you started out, when did you start this company . We started five years ago. When did you start this company . We started five years agolj when did you start this company . We started five years ago. I imagine there were not many other Companies Like yours with this technology, but they are all catching up fast. So how are you going to diversify . For us, it is to continue growth. We have 50 staff. 15 of which are in new york and we launched our new analytics product. Were excited about that and were just going to continue serving up the best content to the Story Tellers of the world. Andrew, we appreciate your time. Fascinating, especially from our point of view. Thank you very much. Cheers. Today marks the 25th Anniversary of the signing of the maastricht treaty, officially known as the treaty of the european union. Back then there was a feeling of optimism and hope about what the eu could achieve for the prosperity of all its residents. Few would have predicted the financial and political challenges the union would come up against a quarter of a century later. Andrew walkers been taking a look back in time. Maastricht 1992 maastricht1992 and a blueprint is agreed for a new and deeper programme of european integration. It was here that the euro was conceived. This was a moment of hope and optimism at least for european political leaders. A quarter of a century on, the eu is blue and yellows flag looks tattered. Weve had arguably still have, the eurozone financial crisis, one important member state, britain, deciding to leave and the rise of anti eu political groups in several countries and perhaps a chance that they will take power this year in countries that were founder members of the european project, france and The Netherlands. And now the election of donald trump to the us presidency creates new and unpredictable challenges for uranium. He doesnt seem to think much of the eu. He said the british decision to leave was so smart. He has certainly rattled brussels. The president of the European Council donald tusk wrote to members saying the changes put the eu in a difficult position. Maastricht was intended to create a Congealial Environment For Business with less uncertainty. It feels like a long time ago. Jeremy cookjoins us. The iconic red Telephone Box gets a redesign. It is 90 years old, the old phone box . So, instead of people using itjust for calling old phone box . So, instead of people using it just for calling someone, you can use it for maps. You can use it browse the internet. It is now a wi fi hotspot. It browse the internet. It is now a wifi hotspot. Well will that cause a resurge in the use of the phone boxes . I would a resurge in the use of the phone boxes . Iwould imagine a resurge in the use of the phone boxes . I would imagine they are hardly ever used. Most are vandalised . I would use them to get out of the rain or hide from someone on the street we have had quite a few tweets. Some people saying, i cant find one. Ian said, it is 20 years since i used a phone box. Ian said he used one in 2007 when his nokia died. The question is will there be a resurgence in the use of the phone boxes . I dont know if there would . If your mobile phone doing everything from your banking to travel, to your whole schedule, i doubt people will want to tie themselves down to a phone box. The only thing i see is people having selfies, they want that photo of the red phone box. Lets move on. Other stories in the press today. Weve got a flying car. I love this one. What do you reckon. Would you get in one . I would get in one, i dont think i will see one in my lifetime. I think it isjettison stuff. If they could work on the cars at the moment. They have got a nasa engineer . It seems like another way of uber to burn through investors cash. I love the idea, but im scared of heights an interesting story in the guardian about bermuda which has been sort of slated as a tax haven in president press. Bermuda saying that the uk is a tax haven because people arent here for the weather . No, were not. Im certainly not. Are you here for the tax haven . Im here for the quality of life lets put it that way. The uk has the most billionaires living in it especially london as a city and the ability for non doms and we havent really talked about non doms in the uk for many, talked about non doms in the uk for any talked about non doms in the uk for many, many years, non doms to not pay tax in the uk has made sure it isa pay tax in the uk has made sure it is a beneficial regime for them to live under. The nondom rules are changing in april . They are set to change, but i think this is bermuda firing back to say obviously dont slate us when you have your own beneficial rules and i think there Isa Beneficial Rules and i think there is a bit of post brexit anger there given the impact on the commonwealth. Thank you, jeremy. Thank you too for your company. We will see you tomorrow. Thats it from Business Live. There will be more Business News on the web page and on World Business report. Bye bye. Hello there. Cloud and rain that affected most areas overnight has 110w affected most areas overnight has now cleared away for the vast majority leaving a mixture of sunshine and showers through the rest of today. However, through Eastern Parts of scotland and the extreme east coast of england here it has been a struggle to clear the wet weather away. We will keep the band of cloud and rain all day long right through into the end of the afternoon. Further west, right through into the end of the afternoon. Furtherwest, more in right through into the end of the afternoon. Further west, more in the way of sunshine, yes, but hefty showers flinging their way in across the South West Of England and wales. Some wintriness over high ground. Not as many showers into the midlands and the south east. Ten celsius in london wont feel too bad in the sunshine, but for the extreme east coast, it could stay cloudy and dampfora east coast, it could stay cloudy and damp for a good part of the day. Showers in county down and county armagh. In scotland, it will stay grey and damp and outbreaks of rain and snow accumulating over the grampians. The snow will continue here as we go through tonight and the band of cloud and increasingly patchy rain will drift its way westwards again. The further west you are, clear spells, westwards again. The further west you are, clearspells, but westwards again. The further west you are, clear spells, but where we have a few showers and a touch of frost, there could be icy stretches to ta ke frost, there could be icy stretches to take us into tomorrow morning. Now, tomorrow we still havent lost this weather front. It is still hanging around. In fact, it will continue to drift westwards again. The rain will tend to ease off so just a few spits and spots here and maybe wintry flakes over high ground because the air will be turning increasingly cold from the east, three celsius in norwich. So through wednesday night, here is our weather front. Yes, still hanging around and as it continues to drift westwards it will open the gates to this cold air which is going to start to drift its way in from the east. So, during thursday more of us getting into the Cold Easterly wind as a consequence temperatures will drop two or three celsius at best in norwich and in manchester. A little bit milder out west, but by friday that cold air begins to make more of an impression and there is the risk we could see wintry flurries here and there. Look at the top temperatures, just two to four celsius. So for the end of the week then, we will see that Cold Easterly wind setting in. It will be rather cloudy and there is the increasing risk of snow showers particularly as we get to the weekend. Hello, its tuesday, its 9am. Im victoria derbyshire, welcome to the programme. This morning, the village in hungary which appears to be trying to create a white utopia, and wants british people to move there. Translation real refugees live in a multicultural society, where muslim immigrants have become the majority. Well bring you that exclusive report shortly. Also on the programme, measures to tackle the high cost of renting are being announced by the government today. Its being seen as an attempt to accept that for some people owning their own home will never happen. Ive never owned my own home. Ive never owned my own homelj ive never owned my own home. I am a regulated tenant, i can stay in