Markets are heading higher. And we will have the latest donald trump pump. We will have the latest donald trump pump we will have the latest donald trump pump. And we will have the latest on trump pump in europe. And are you cycling enthusiast but fed up with wearing lycra . Well be speaking to the man who is trying to revolutionize the world of cycling fashion. As the samsung scandal continues we want to know do headlines like these affect your Shopping Habits . If samsung or People Associated with it are found guilty of bribery would it stop you buying their products . Just use the hashtag bbc bizlive would you avoid samsung products. Just use the hashtag bbcbizlive. Apologies for saying it is the 27th of february, it is the 28th Of February today. We start with this man behind Mika Mcgettigan Making headlines for the wrong reasons. After weeks of uncertainty one of the worlds Biggest Companies is seeing the man who is in charge indicted by south korean prosecutors on charges of bribery and embezzlement. This is jay y lee being taken in for questioning earlier this month its part of a wide ranging Corruption Scandal which has seen the president impeached. So what is he accused of . Prosecutors allege mr lee gave donations worth about 36m to organisations linked to a close friend of President Park geun hye. The prosecutors say this was done to get Government Support for a controversial 8bn merger between two Samsung Group affiliates. At a parliamentary hearing in December Samsung admitted giving about 18 million to two non profit foundations but denies seeking favours in return and any wrongdoing. Four other samsung executives have also been charged by south korean prosecutors. Three of them have now resigned from samsungs Corporate Strategy office which oversees the activities of the dozens of samsung companies. Ashleigh ngheim is in our Asia Business hub in singapore. This story has been unfolding in more details at the last couple of hours, bring us up to scratch. More details at the last couple of hours, bring us up to scratchm all emerged after south korean prosecutors held a Press Conference confirming as you say, charges would be laid against samsungs boss as one of those four executives. Three of whom you have now resigned. Essential to this case is the claim that samsungs boss, jay y lee, met the south korean president in a private meeting just between the two of them. Its claimed that they agreed samsung would pay millions of dollars to the friend of the president , who would then get south koreas National Pension fund to banka koreas National Pension fund to bank a major restructure in favour of mr lee and to help the family shore up their control of the company. Critics say that was the one goal that was to come out of that meeting for the company. Thanks very much. Geoffrey cain is a journalist who spent five years in seoul and is now writing a book about samsung. He joins us from yuma, arizona in the united states. Thank you forjoining us this morning. Its been a terrible year of headlines for samsung. We had all of headlines for samsung. We had all of the issues with the note seven phone. If you could their share price of the electronics company, it is almost 50 up in the past year. What is the story of this company . This is a unique company in that it has managed to split its business operations, the things that it makes, the phones, the televisions, from the leadership, from the dynastic, from the governments problems. Its interesting what is happening because we have these Smoking Phones which just happened. Now we are having these problems with jay y lee, the heir to the samsung throne, who is now injail awaiting trial most likely. We are seeing a complete disconnect. Investors have confidence in samsung. Consumers still like their products. Its profits and shares are still quite high. This is a company that goes a lot of the business wisdom out there. If jay y lee this found guilty, what could this mean for samsung . Found guilty, what could this mean for samsung . Because he found guilty, what could this mean for samsung . Because he was being groomed to take over. Samsung probably will be fine. The share price is pretty high as you mentioned. It looks like it is still going up. Galaxy eight is slated to be released sometime soon. This is a company that does have a good future ahead of it when you look at the products and all of the lines it makes. The thing jay y lee is, the thing is jay y lee made a sweeping change. It is looking like the company will be shaking things up the company will be shaking things upa bit. The company will be shaking things up a bit. It isnt very clear how this will trickle down to the people in the field, to the officers themselves, but it looks like most of these offices are able to run themselves regardless of what is happening up top. Looking ahead for the company, to their future, you mentioned theyve been successful in separating their business. Investors dont seem bothered about the issues with the phones all the scandal. Do you think the future for samsung is still quite possible . Overall it is quite positive. Samsung is a diversified conglomerate. It makes everything from chips to chips. A lot of Success Rides on the fact it doesnt just make phones. Lot of Success Rides on the fact it doesntjust make phones. If you are apple and a Flagship Product fails you might be in trouble. If you were idm ibm you might be in trouble. If you were idm ibm microsoft and windows fails, there could be problems. But the phones will decline and then the sum the phones will decline and then the sum semiconductors they make my debate in the second quarter. You have this floating effect where one Product Rises and another falls, and it goes through the cycle over and over. It is a Cycle Samsung has gone through four decades and theyve a lwa ys through four decades and theyve always come out of it despite the conviction of the current chairman. He was convicted twice of white collar crimes. He was pardoned by two a separate president s. The founder of samsung had trouble. Yeah, ithink founder of samsung had trouble. Yeah, i think the company itself will be fine. Thank you forjoining us will be fine. Thank you forjoining us this morning. In other news a Senior Engineer has left Ride Sharing Company uber just weeks after he started. Amit singhal failed to disclose that he faced accusations of Sexual Harassment in his last job at google. His departure comes days after uber promised to investigate separate claims of Sexual Harassment at the company. Greece is holding yet more talks to try and get to the next stage of its bailout programme. Inspectors for the european union, European Central bank and International Monetary fund are in athens trying to finalise reforms with the government so that it can be given the next chunk of money which will help it avoid bankruptcy as it continues to struggle with more than 300 billion of debt. Lots of stories on the website, including this one about space x. Two tourists have put their place to travel 3000 miles 300,000 miles to the moon and back. Spacex. Ifi to the moon and back. Spacex. If i put my children and that rocket i would make amazing childcare savings. Where am i going to day mummy . To the moon and back. Chuckles in a few hours time well find out how the Indian Economy is faring. Could the worlds second most populated country become the engine which drives the Global Economy . Sameer hashmi is in mumbai. This is really important data, isnt it, coming out today . Its the first time we will get a look at october, november and december for india which is when the cash crisis kicked in. Thats right. Very crucial piece of data that will be released later today. These figures are for the period from october to december 20 i6. Period from october to december 20 16. The government put a ban on those notes starting december. Starting november. Youll get a first picture of how that move impacted the economy on the ground. And how much time will it take for the recovery. India was the Fastest Growing economy. It surpassed china over the past few quarters. Most economists now expect this latest figure will be somewhere above 6 . Many think it could be lower. It will lose its tag as the Fastest Growing economy if it is in that range. Thanks very much. One story in town today as far as the markets are concerned. The dowjones closing for 12 days in a row at a record high. The first time its done that for some 30 years. And it is all about president trump. What will he say later today when he addresses both houses of congress . Many are expecting a 10 boost to defence and different stocks are doing well. Lets move on to the european markets if we can. London. Bae up around 2 on the ftse 100. We cannot bring london. Bae up around 2 on the ftse100. We cannot bring you the figures for some reason. We will do itina figures for some reason. We will do it in a moment when we look ahead to the european markets. Michelle fleury has the details about whats ahead on wall street today. Wall street will be paying close attention when Donald Trump Addresses Congress later this tuesday. What are they looking for from his speech . More details on the budget and how he plans to move forward on tax reform and infrastructure spending. While the president is popular among investors he has historically low Approval Ratings among voters. The us Conference Board s Confidence Index will view confidence in him. Economists are forecasting a dip. And how americans feel can affect their spending habits. Will that help or hurt retail targets which reports Fourth Quarter earnings this tuesday. There has already been an Early Warning that the Holiday Season was Early Warning that the Holiday Season was disappointing. Thank you. Joining us is james hughes the chief Market Analyst from gkfx. The us markets have had almost a 30 year winning streak. Trump is talking tonight. What are we expecting . We can expect anything because it is donald trump. Interestingly we expected Fiscal Policy today. Thats the information we wanted. However yesterday, trump, as he likes to do, randomly come out and speak, he said yesterday that he isnt going to mention anything about potential tax cuts today. That is something weve all been waiting for. That is one of the big reasons why these markets have been rallying, particularly the dow jones, because weve seen strong rallies. There have been good, corporate performances but it has all been on the back of potential, very bullish Fiscal Policy, which is very bullish Fiscal Policy, which is very stimulant to the markets, to the overall stock markets. We are still waiting for that news . Donald trump said yesterday he wouldnt say it, but that does not mean he wont, because he will say what he likes. The fact we have trump at the moment really dictating the markets means that the way people are trading is com pletely that the way people are trading is completely different to how it usually is. Looking at the european markets, we have the numbers now, edging up slightly. In europe we have that meeting with greece and finance ministers, weve already mentioned that, but is everybody just really focused on the us later today . And also this Fourth Quarter gdp number coming, the second estimate, which will give us an idea of how well the us economy is doing right now. Absolutely. It is difficult to look at anything other than donald trump and everything coming out of the us. We dontjust have trump, but we have the fed ramping upfora have trump, but we have the fed ramping up for a rate hike. Europe is an important one to look at. Especially with a discrete mass. We know that the imf and the ecb are having talks about the fact that greece wont meet any of their targets. Yet we will keep Pumping Money in regardless. That is what happens every time we get this situation with greece. It will continue to happen until greece finally does go bankrupt or the euro falls apart. There is a focus on that. What is different to any other time was that with donald trump in the white house we are far more focused on the white house and what comes out of it, more than we ever would be. We dont normally care about politics. But with trump in the white house it is the uncertainty which causes so much movement. With trump in the white house it changes the way traders work, you said, how has yourjob changed since he has become president . We are looking at twitter all day long instead of the markets. Those things are driving us. Your daily could be quite regimented. You would look towards the economic calendar, what is coming out of the us, out of europe, but now, we know trump wakes up because he sends a tweet first thing. From there until the end of the trading session, or until he goes to bed, we know that anything can come out. At the moment markets are latching onto everything he says. Does that make your life more interesting or more stressful . Both. Thanks very much. Now a look at some of the stories from around the uk. The telecoms regulator, 0fcom, says it will take action to cut the bills of those who only have a landline with bt. Theo leggettjoins us from the business newsroom with more. This sounds like good news. Fill us in. Well, this is because a lot of us in. Well, this is because a lot of us get our broadband and our phone lines and things like that as a bundle and those of us who do, which is most of us, get a good deal because there is a lot of competition in the market, but a substantial minority of people still buy just a land substantial minority of people still buyjust a land line or they get things separately so theyll have a Land Line Contract and a Broadband Contract and what 0fcom are saying is those people get a pretty rough deal. Whereas prices have fallen for other people, for anybody who is just buying a Land Line Contract, the price of the contract in real terms, so stripping out inflation has gone up between 25 and 40 over the last six years. Now that doesnt sound great, but whats worse according to 0fcom is these are some of the most vulnerable people, elderly people who may never have changed their phone contract. This was what sharon white the Chief Executive of 0fcom had to say a short while ago. Our concern is there are about two million elderly and vulnerable people, most of whom have been with bt for decades, have never switched their telephone provider, and they have seen their bills rise by about a third while at the same time, bts costs have falle n the same time, bts costs have fallen by a quarter. So that was the Chief Executive of 0fcom. Now, what theyre planning to do there, is a consultation, but they say they want to reduce the Monthly Price of a land line by about £5. It doesnt sound a lot, but £60 a year if youre on a fixed income as many elderly people are, that can have a big impact. This is a consultation. It will carry on to may. 0fcom will take a final decision around the end of the year. Thank you. We have got a story about the triple lock. It is about the Pension Triple Lock. It is about the Pension Triple Lock where the State Pension Increases either by inflation, or Wage Increases 01 increases either by inflation, or Wage Increases or 2. 5 , whichever is higher. It was introduced in 2010 and it is something thats very expensive and there is chat about scrapping it, but a former Pensions Minister said scrapping it would be a bad idea. Youre watching Business Live. Our top story, south korean prosecutors have confirmed they will charge this man jay y lee, the Third Generation leader of samsung, with bribery and embezzlement. Hes been accused of giving donations in exchange the Lycra Clad Cyclist is a familiar sight in many cities around the world. But not everyone looks great exerting themselves in super tight cycling gear. In fact the british have an acronym for it. Mamil, meaning middle aged men in lycra. A sight often seen on a sunday morning. You get the picture. But our next guest aims to make things a bit more comfortable and stylish for the committed cyclist. Hes nick hussey, the boss of cycling Clothing Company vulpine. It was launched in 2012 and aims to provide clothing that doesnt look like youve just cycled to work in it. Raising more than £1 million, about 1. 25 million in a Crowd Funding Drive in 2015 around double the target. Its a purely online operation with most of its sales here in the uk but the Company Plans to crack the lucrative us market. Nick husseyjoins is here. Where did this come from. I am assuming you were a committed cyclist . I was a Racing Cyclist in the 80 and i have seen cycling turn into something completely different. What hasnt kept up is cycling clothing. You think of tight, bright, smelly lycra and thats what ma mi ls wear. I also work and i go about my daily life and there is nothing i can wearfor that, so i created the company to use Performance Fabrics that look stylish. You can ride in it, feel goodin stylish. You can ride in it, feel good in it, you dont have to carry a rucksack and go to the gym and have a shower and wet wipe yourself down. Everything youve got on, youve got bits and bobs, some of the gear that you sell. Just explain if you pull those out nick so the viewer can have a look, just explain the Science Behind this fabric because youre saying you do still sweat when you cycle. We all do. It doesnt smell and it doesnt affect the clothes. You wore your clothes for weeks on end. Affect the clothes. You wore your clothes for weeks on endlj affect the clothes. You wore your clothes for weeks on end. I wore wool and it didnt smell. How does it work . Is it the bacteria . It is a naturally antibacterial fabric. It is pure wool. It is expensive stuff, but it lasts extremely well and it performs wonderfully well so you can wear it will all day and not be paranoid. It is expensive. The jacket is £300 compared to a cycling jacket is £300 compared to a cycling jacket for £50. Why would somebody pay that much more . Because they pay for quality and they pay for that performance, that long lasting thing that they will have for years and yea rs that they will have for years and years and they can use it for their entire life. They can wear it for Yea Rs Entire life. They can wear it for years for everything theyre doing in their lives. 68 of years for everything theyre doing in their lives. 6896 of your sales are in the k, but you have got overseas sales and youre looking to increase those. How are those overseas sales come about. Have you been targeting them . All we have done is concentrate on the uk and put our resources in there. We are a Small Company and now, today, were launching a new range and we are starting to talk to international markets. 32 of that International Revenue has just come organically and thats promising. That comes from germany, the us, south korea, japan, finland, strangely, and were not trying. So now were going to try and we expect that to expand quickly. How are you going to manage that. Your turnover is more than £1 million. You raised quickly on a Crowdfunding Website the money you required. Yourejust ten people Crowdfunding Website the money you required. Youre just ten people and yet it seems to be snowballing. You and your wife are running this. Youre both working full time. You have got a four year old and a one year old, how are you going to pull all this off . It sounds stressful. A lot of coffee and support. I have a great group of staff who are very committed and also great shareholders, we have 600 shareholders now who are easy manage and extremely helpful. They are also our customers, thats an important aspect of crowdfunding and really our biggest problem is not having stock. We need cash for stock. Interestingly, something thats maybe relevant to you guys is hsbc fund our invoices which means that we can afford to buy more stock. All right. Well keep an eye on it. You dont look like many of our coalition who come in in their sweaty lycra to the bbc here is how to keep in touch. The Business Live page is where you can stay ahead of all the days breaking business use. We will keep you up to date with all the latest details, with insight and analysis from the bbcs team of editors right around the world. And we want to hear from you, too. Get involved on the bbc Business Live web page, bbc. Com business, on twitter bbcbusiness and you can find us on facebook at bbc business news. Business live on tv and online, whenever you need to know. You have been getting in touch about samsung. We asked you is what unfolding at samsung affecting your Shopping Habits. A viewer says, i think quality and innovation of their products matter most other than a corporate scandal. Ray, im likely to avoid a product if i dont agree with the company and its leaders politics. So mixed opinions out there by samsung. Dominic oconnell is with us. Dominic requested he would like to do spacex, is that because youve got a ticket . No, i havent got a ticket. Im fascinated by it. It is interesting the idea that a private company would take people to the moon. This is elon musk, spacex, he is not planning Planning Land Anybody on the moon. It is a private company thats doing this. You would think it would put people off . Company thats doing this. You would think it would put people off7m you go on youtube you can see spectacular explosions with spacex rockets that exploded. This is with nasas approval . The us governments policy has to get away from Government Control of the Space Programme and really subcontract subcontract it to private companies. The consumers products that Silicon Valley pioneered are funding the next phase of space exploration. Do you think they have Travel Insurance . Id like to know what the product is there was another article in the times today about mighty the Ca Retaking Article in the times today about mighty the caretaking outsourcing company. There has been a lot of talk about getting workers on to boards. Theresa may, the Prime Minister, before she was made Prime Minister, before she was made Prime Minister talked about worker representation on boards, but she walked away from that. Thats not going to happen. Mighty are going to going to happen. Mighty are going to go ahead and do it. We will keep an eye on it. Do you think they will get much input or will they be there . It depends on who will be representing the workers. I will see you tomorrow for more Business Live. Well, yesterday the weather was all over the place. I think fewer dark clouds today. There will be some rain around, but it wont be the big downpours i think that we experienced yesterday and those hailstorms as well. But clearly, the uk being here, there is a lot going on in the atmosphere, you can see clouds circling the uk here, but the difference with today is rather than the showers being all over the place, they will come in sort of bands of rain. So i think through the course of this afternoon, its a case of Rain Or Shine across the south, but in the more distinct bands. Raining for a time across central and Southern England and the midlands and than you get some sun. The same goes, i think, across wales and the north west of england. So rain pushing through and then some sunshine. The best of the weather across central and northern and eastern parts of scotland. Here is sunshine for glasgow, edinburgh and also aberdeen. Now tonight, again, Those Bands Of Rain Pushing through and then eventually the skies clear. So once again tonight, it will be a cold night. A touch of ice in some places as well, a bit like this morning. Temperatures in City Centres First Thing on wednesday around four or five celsius in the south and around maybe one or two celsius in the north and the northern cities. Tomorrow, a weather front northern cities. Tomorrow, a weather fro nt m oves northern cities. Tomorrow, a Weather Front Moves through. So i think southern areas will cloud up. This isnt going to be desperately heavy rain and damp more than anything most of the time. Further north and east you are, the better the weather will be i think tomorrow, but in the north east, you will probably catch one or two showers. This changeable u nsettled one or two showers. This changeable unsettled theme continues into thursday. Thursday will be a very windy day for a time at least. And then this is what it looks like. You can see some rain pushing off the atlantic. So again, these eastern areas and southern areas probably faring best for longest whereas rain and wind moving into wales. And friday, a fair bit of cloud again. A chance of rain almost anywhere across the uk. So really it is a mixed bag this week. It will change a little bit from day to day, but keep your umbrella to hand and chilly enough for some snow on the northern hills. Hello its tuesday, its 9 oclock, im victoria derbyshire, welcome to the programme. 30 british people died during this Terror Attack in tunisia in 2015. This morning a judge at inquests into their deaths will set out why he believes negligence did not play a part. Inaudible the families of the victims already. Inaudible we will sort his microphone out, no worries. Throughout the programme well get reaction from those who survived the attack. Hejust he just stood there with this huge gun. He ran around all the people
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