Jesting them at the moment. And well be meeting the only Living Person who has invented and been implanted with a medical device to cure their own chronic medical condition. Its called the vibrant soundbridge, and has given Geoffrey Ball back his hearing. Workers in australias tax office have refused bosses pleas to extend their working day from 4 51pm to 5pm. What could you achieve if you spent an extra nine minutes a day at work . Just use the hastag bbc biz live and wherever you are it is amazing what you can do in a whole nine minutes send in your comments on that and other stories we are covering today, it is a packed agenda. Full year results for Banking Giant Hsbc has come in quite a bit below analysts expectations. Pre tax profit fell 62 from the previous year, with the bank calling it a period remembered for its largely unexpected economic and political events. The net profit of 7. 1 billion compared with 18. 87 billion recorded in 2015, and Group ChairmanDouglas Flint says geopolitical changes contributed to volatile Financial Market conditions. So what does he mean by that . Last year hsbc agreed to pay 1. 6 billion dollars to end a Class Action Lawsuit over its involvement in the us sub prime mortgage scandal during the financial crisis. That is just one element that has been going on. Its also facing pressure to tighten up safeguards against money laundering. Us regulators have said hsbc has made some progress but needs to do more. And all this comes as the bank closes an additional 62 branches in the uk on top of the 55 announced last year and tries to recover from the reputational damage caused by being found guilty of taking part in an Interest Rate fixing scheme. That is like many of its peers. Rachel, over to you. Our Economics Editor kamal ahmed is with me. Thank you for coming in. Sally has run through some of the issues, that drop in profits as much larger than expected, but overall, what has been the reaction . Overall the share price has come off a little bit, down almost 5 , but lots of that is to do with profit taking, hsbc shares have gone up by over 50 since the referendum in the uk last summer. Since the referendum in the uk last summer. It said it would execute a 1 billion Share Buy Back. That was a little disappointing to some shareholders who said it would be around 3 billion, so shares have been a bit softer because of that. It shows two things, firstly it is very ha rd to it shows two things, firstly it is very hard to make money in banking in this low Interest Rates, low inflation world we still inhabit. Secondly, global shots for a global bank, things like brexit, the election victory of donald trump, me that trading tends to slightly softened, revenue is slightly softened, revenue is slightly softened and profits soften slightly. In overall terms, hsbc is robust, it revealed that its capital ratio, its core capital is now above 13 , well above target, so it is a very robust balance sheet. What shareholders want to see is what is hsbc going to do without money, it has been selling assets in dealing with reputational damage that sally spoke about, what would it do to reinvigorate growth and rebuild its business in asia . Donald trump brexit, they were issues the Global Finance and trade, and perhaps the rising protectionism for a bank like hsbc, a global bank which gets a lot of business from global trade. Going forward , of business from global trade. Going forward, what impact will it have on the bank . Is two thirds of hsbcs profit comes from asia and there is a trade war between and china, which President Trump has threatened at least, not gone through with yet but threatens, that could be damaging to trade around the world. Hsbc is one of the biggest banks in trading so that could be something on its profits. At the moment there is a sense that this might be the dock before the sunlight, we have these big fiscal boosts possibly coming for america, Cutting Corporation tax, the release of Animal Spirits in the us economy, that would be very good for hsbc. What about in terms of who was running the bank in the future . Douglas flint is expected to retire and we do not know who will succeed him, Richard Gulliver is expected to move on in the next few years . Hsbc was always a business promoted from within, it has never had an external Chief Executive or chairman, some shareholders are pushing for outside blood. No real detail on how that is going, there is a process and Douglas Flint and Stuart Gulliver are due to move on. There are 2 megabits candidacy would look at, both portuguese, there is the head of uk and european hsbc and the Chief Executive of lloyds bank, one of the other big banks in the uk commerce and big candidates. There are not that many people Houara Chelated in the right way with the right skill set to run a massive global bank. There is only a handful of people, there could be an internal candidate, it could be external, shareholders are most at are more focused on whether bankers going to do Stuart Gulliver rather than what will happen next. Rather than what will happen nextlj am rather than what will happen next. |j am sure you will be putting this on the website . May well be is that an order . some other stories, it is an extremely busy day. The worlds biggest miner, bhp billiton, reports a near eight fold rise in underlying first half net profit to 3. 24 billion from 412 million a year earlier. Quite a turnaround. And shareholders received a bigger than expected dividend of a0 cents a share, signalling its growing confidence amid a resurgence in Commodity Prices. Good news for Intercontinental Group shareholders the hotel group reveals it is to issue a special 400 million dividend for shareholders and an 11 increase in its total dividend. This comes as the uk listed owner of holiday inn reports a 9. 5 increase in underlying profit to 702 million for 2016. And youtube is to scrap unskippable 30 second advertisements from 2018. Google has confirmed that it will focus on formats that work well for both users and advertisers, and says long unskippable adverts on the Video Streaming Service are seen as a nuisance by many viewers. Ican hear i can hear you all cheering as i read that out loud lets look at what is on the tablet and sticking with hsbc, all those banking stories making the headlines. The Plunger Natures bc shares, lots of other banks are reporting this week as well. The plunge in hsbc shares. We chatted to kamal before we came on air and we talk about how the falls on the ftse, he believes they are more profit taking, people selling of shares they bought in Anticipation Ofa Shares they bought in anticipation of a larger buy back scheme. They announced the Share Buy Back of 1 billion, they expected it to be larger than that, it has done a previous one of 2. 5 billion. As kamal ahmed mentioned, profits are up kamal ahmed mentioned, profits are up 50 since thejune referendum. Always lots of layers in these figures. Troubled Japanese Technology giant toshiba wants to raise 8. 8 billion from the sale of most or all of its flash chip business. Tim mcdonald is in singapore. Tell us some more about this story . Toshibas microchips are mostly used on mobiles and tablets and it is one of the conglomerates most valuable businesses, if reports are accurate they are considering a sell off of majority stake to raise up to 8 billion, a much bigger slice of the business than the 19. 9 they previously said they would sell. Why some of the crown jewels . Previously said they would sell. Why some of the crownjewels . Toshiba is trying to plug a big hole in finances due to a write off of its us nuclear division. 0ne Credit Ratings agency said that the rating might be smashed as a result, bad news for investors, said they were not enthusiastic about the sale today. Toshiba stocks rose almost 2 in early trading but closed about 1. 39 lower. Thank you. That is one of the shares on the move in asia, another stock on the move was hsbc, it is listed in hong kong as well as london, its shares in hong kong were head quite badly when the results came out, shares down on the hang seng Something Like 3. 5 . That is readys close for the states, it was president s day on monday so no action on wall street yesterday, they will reopen after a nice Long Bank Holiday weekend. Lets look at europe, bhp billiton shares are doing nicely if we can move on to the european markets. And Anglo American as well came out with results very similar to bhp, a real turnaround, losses last year, big profits this year, Commodity Prices have been on the way up. In particular, metals. Not enough to boost the ftse. Hsbc is lower, mining stocks higher, the ftse down by almost 0. 4 , the european markets are headed lower. Back to rachel. Mike amey, managing director and Portfolio Manager at pimco, joins us now. Thank you for coming in. I will bore you with banking, we started with hsbc, lots of the Banking Stocks are down this morning, on the ftse. Lloyds are down 1 , rbs1. 3 , ba rclays 1. 45 , lloyds are down 1 , rbs1. 3 , barclays 1. 45 , standard lloyds are down 1 , rbs1. 3 , ba rclays 1. 45 , Standard Chartered 296. The Banking Sector has done very well, posed brexit, a big bounce, hsbc up 50 , so a bit of nervousness. The other thing that is going on is in the hsbc commentary, basically the amount of money they make on their day to day business looks like it is coming in lower than expected. Roughly speaking, they take deposits offers and land them on mortgages to us or others, them on mortgages to us or others, the differential between those is how they make money, when Interest Rates are low, that squeezes profits. Is that why did the dens are so profits. Is that why did the dens are so important right now, another way of getting money in when Interest Rates are so low . Is that why dividends are so important . Intercontinental hotels, Anglo American and bhp are saying the dividends are there, they are upping them . We are all looking for ways to get income, frankly, with low Interest Rates. Sustaining the dividend is very important. Prices because people look at other ways. Bank deposits, they say they will not get income so if there are other ways to do it safely they will, so the message about keeping the dividend is trying to reinforce that. Aside from Banking Stocks reporting we have minutes from the latest Federal Reserve meeting coming out on wednesday, what are we looking for . Not everybody is at superlow Interest Rates and staying there, the Federal Reserve has raised Interest Rates already and the question is how quickly. They raised rates in december, these minutes will be all about march orjune. 0ur best guess is probablyjune rather than march, if they have a decent couple of months worth of data perhaps marge, rates are going up somewhere, not all bad news. You are coming back to do the papers, see you later. We will find out how much might can do in terms of productivity in nine minutes. He is thinking about that 110w. Still to come using Wearable Tech to tackle disability. Well meet the man whose revolutionary Hearing Implant is helping combat deafness. Youre with Business Live from bbc news. British House BuilderGalliford Try has Just Announced a 19 rise in pre tax profits in its latest half year results. The firm has set new House Building targets of 5000 units per year in 2021. Theo leggett has been crunching the numbers. Would seem for these kind of House Builders that they are doing extremely well . They are, good times for the House Builders because there is so much demand for Residential Property in this country. According to the governments House Building white paper, that will continue, so gulliver try is pinning its hopes on that. The Press Release says they are strengthening their foundations to support strategy for growth, the worst plan of the day, in my opinion, but looking at the three areas of their business, linden homes, probably the most recognisable brand, their main Residential Property building on, that has very good rotted margins at the moment, it currently builds around 1500 houses a year and wants to increase that to more than 5000. It also has its partnership and Regeneration Division working with local authorities to build affordable housing, that is all doing rather well, expanding with reasonable Profit Margins. There is another area that is business that generates big revenue but poor margins, its infrastructure and construction business. That is wafer thin margins at the moment. The picture overall is very good, reve nu es picture overall is very good, revenues increase Profit Margins are very good, but that part of the business is looking comparatively weak. It is hard to gauge where things will go next. There are a loft elements that are good and strong. But we were talking to the boss of redrow after that white paper was released. If you read the statement that Galliford Try put out this morning, they state we continue to monitor Market Conditions and Consumer Confidence closely and are mindful of the uncertainty in the economic environment. Who would not be right now . There is so much uncertainty out there. They say as emphasised by the housing white paper, the government remains committed to increasing housing supply. They say the market continues to enjoy good Mortgage Availability along with low Interest Rates and the stimulus of help to buy. The outlook seems good for them. They are taking advantage and they are planning to expand. You see how much theo leggett can do in less than nine minutes. We thank you for your time. Youre watching Business Live. Our top story europes biggest bank sees its annual profits plunge by more than 60 . Hsbc says volatile Market Conditions are to blame. A quick look at how the markets are faring. We have had results from many companies. Take a look at the Business Live page. It will detail it all for you and also talk you through the various winners and losers. The innovators behind Tech Companies often have extraordinary stories. But few can match the experience of the next person were featuring in our week long disability works series. Geoffrey ball is the chief Technology Officer of med el, which is a Global Company researching the field of hearing loss and Making Implantable hearing systems. Geoffrey developed hearing loss as a child, but later became frustrated by traditional hearing aids, so searched for an alternative. After completing a biomedical degree, he worked in the field of neuroscience, biomedical and auditory research. This lead him to develop and personally test a middle ear implant, known as the vibrant soundbridge. His situation is unusual because he is both inventor and patient of the medical device aimed at curing a chronic medical condition. Geoffrey ball is chief Technology Officer at med el and joins us. Good to see you. Welcome to the programme. Thank you. Just tell us the story from the beginning. We do hear of people struggling with hearing loss or profound deafness, but you dont hear of them fixing the problem themselves. It is very unusual. Yes, well, i lost my hearing as a toddler. I had a high fever and after that i could no longer hear. I wore hearing aids for a long time. I grew up in Silicon Valley, california and i got help from Special Educators and from Speech Pathologists and i was quite lucky. But hearing aids never worked f