Strike by the us on syria. We will get the inside track on how facebook is stepping up the fight against fake news and the rest of the weeks big tech stories including a story on tesla. Talking of fa ke including a story on tesla. Talking of fake news its currently a hot topic so today we want to know which stories have caught you out and how did you realise . Let us know, just use the hashtag bbc biz live. A warm welcome to the programme. The us president has been holding his first face to face meeting with his chinese counterpart. Trade and north korea were supposed to be at the top of the agenda but the summit has been overshadowed by the us carrying out missile strikes on Syrian Government air bases. Those were in response to a suspected chemical weapons attack this week. In florida, donald trump said discussions with xi had been long and he was confident they would develop a great relationship. They are the leaders of the worlds two biggest economies and they have been expected to discuss the uss huge Trade Deficit with china, the fact that america imports far more from china than the other way around. But ina sign china than the other way around. But in a sign their raegs relationship seems to have got off to a good start Chinese State media are reporting donald trump has accepted an invitation to china from mrxi. Gareth leathers joins us, an invitation to china from mrxi. Gareth leathersjoins us, senior asia economist at capital economics. Also we are getting some lines from the Chinese News Agency here saying that the first meeting with the two president s urged co operation with the us on investment, infrastructure and energy there does seem to be back peddling from the president. A year ago President Trump now he is saying its the start of a great relationship, better news for us . This is a familiar pattern, all president s on the Campaign Trail, they were all the same, when they get into office they realise that the relationship with china is normally more complicated, that it cant be boiled down to a single issue such as trade. There are encouraging signs, i dont want to discount trumps unpredictability, there are signs he is taking a more pragmatic line to china which is encouraging. He is still going to be wa nt to encouraging. He is still going to be want to be seen doing something about the trade, he has been going on about the Trade Deficit and job losses. How does america reduce the Trade Deficit, they cant say to china you have to buy more goods from america, how do you resolve that . Its very difficult. One option which obviously trump seemed to favour on the Campaign Trail was large scale tariffs, labelling china a currency manipulator, he is rowing backin a currency manipulator, he is rowing back in the short term from that. What he is hoping to do i think is build upa what he is hoping to do i think is build up a decent relationship with his chinese counterpart in the hope he will get easy concessions, you may see a big order of Chinese Boeing from the us in the next months. He may also seek concessions so months. He may also seek concessions so the chinese may look to open up domestic markets in terms of levelling the Playing Field which is one of the big complaints American Companies have had recently. Of course the other big thing on their agenda will be north korea. China is so agenda will be north korea. China is so important in terms of the north koreas trade with anywhere else, a lot of that trade goes through china. Yeah, trumps been clear, he has been putting pressure on the chinese to try and act more decisively with north korea. And its north korea, sorry its china that holds all the leverage with north korea, it is its biggest Trading Partner and key ally. He has said if china doesnt follow through with some commitments he is prepared to act unilaterally and the action in syria today is maybe a precursor to what he is prepared to do in north korea, he is showing america is tough and prepared to take a stand. We have been talking about it the last couple of days, this important meeting but for people watching this is important for everybody that these two gentlemen behind us here and the two nations actually get along and continue trading without a trade war. A healthy one and two of the worlds biggest economies is good for us. Its the worlds most important relationship, the last thing the world needs is a trade war and that would hurt everyone. Thank you very much. Some other news 110w. Much. Some other news now. Spotify is reportedly considering to a direct stock market listing, instead of taking the usual route of holding an initial public offering. It is a relatively rare way to sell shares ina company. Relatively rare way to sell shares in a company. The public would be able to buy and share sells but the company would not raise any fresh funds. We will talk about that shortly. Hyundai and kia motors plan to recall more than 170,000 vehicles in south korea because of an engine defect. The recall covers models equipped with a 2 liter or 2. 4 liter theta two Gasoline Engine produced before august 2013. The south Korean Transport Ministry said metal debris in crankshafts could cause engine damage, leading to possible engine stalling. Its theta. Never heard of it now to asia, where korean tech giant Samsung Electronics has published a Profit Estimate for the First Quarter that makes it the best quarter for the company in three years. Leisha chi is in singapore. Its not a shabby number. Thats right impressive numbers today. As we have been Reporting Samsung has had a really rough ride in recent times and just today the boss appeared in court for the first time. He of course has been sitting in jail after time. He of course has been sitting injail after being time. He of course has been sitting in jail after being charged time. He of course has been sitting injail after being charged in a Corruption Scandal that brought down south koreas president. Going back to those numbers, it really comes from the Memory Trip Division as well as flat Panel Display business. Sales have been strong and that has led to positive Profit Forecasts which has forecast to jump by about 48 to nearly 9 billion. Of course these numbers are expected to help samsung shares even more. Theyve been trading at record highs in recent weeks which goes to show this Corruption Scandal suspect putting that much of a dent in its bottom line. Good to see you, thank you very much. Lets look at the markets. Bonds, the yen and gold jumped in asia investors turning to safe haven assets after the United States launched Cruise Missiles against an air base in syria. It means attention is focused on the middle east and the impact on the oil price which has risen rather than the meeting between President Trump and xi jinping. The us dollar dropped , while gold and oil prices rallied hard, though the early market panic calmed when a us official called the attack a one off, with no plans for escalation. Tokyo shares closed higher. A softer start to the trading day across europe. One other story were keeping an eye on is the row between twitter and the Us Government. Twitter shares ended the trading day on wall street lower. The Social Media Giant is suing the Trump Administration after authorities demanded twitter to reveal the identity of an anti trump account. The anonymous profile criticised the governments immigration policy. Dave lee sent us this from san francisco. Injanuary, in january, when donald injanuary, when donald trump became President Trump several so called Alternative Accounts for Us Government services began appearing online. Most claim to be authored by current or online. Most claim to be authored by current 01 former online. Most claim to be authored by current or former employees at those agencies and offered harsh criticisms of their new boss. Now its been revealed that us customs and Border Protection filed documents demanding twitter reveal the identity of at least one of the tweeters speaking ill of President Trump. The law the government is using to meant to be forfinding out more information about the source of imported goods coming into the usa and not from unmasking online identities. Therefore, twitter has asked thejudge here identities. Therefore, twitter has asked the judge here to refuse the request calling it an issue of free speech. Twitters move has been strongly backed by groups who support strong online privacy. Twitter is protecting its users here. I think as a platform it really wa nts here. I think as a platform it really wants to be a place where people can speak freely. Yeah, i think this is really important for them to be doing and i think theyre doing it from a place of actually wanting to protect their users and protect speech. President trump famously loves using twitter because he says it gives him the freedom to say what he wants without having to go via the mainstream media. With this lawsuit twitter is saying that freedom should apply to everybody on the network, even if theyre anonymous and even if theyre criticising the commander in chief. Just saying his beard gets thicker and thicker Richard Dunnebarjoins and thicker Richard Dunnebar joins us. And thicker Richard Dunnebarjoins us. Usjobs, its that time of the month, its friday, and they re its that time of the month, its friday, and theyre expecting another big number that continues to indicate that american employment is full at the moment. Year, we are expecting quarter of a million new jobs to be added. The economy is at full employment, as importantly those jobs are paying full employment, as importantly thosejobs are paying more full employment, as importantly those jobs are paying more than inflation so americans have more money in their pocket so consumer is doing well. The by product is Interest Rates are starting to rise 110w. Interest rates are starting to rise now. The chairman of the Federal Reserve saying the us economy is maybe running a little hotter than it should and its time to touch the brake a little. And thats an increase in rates. Yeah, nevertheless the economy is in rude health and thats for the rest of us isa health and thats for the rest of us is a rising tide that lifts many boats and if the us economy is doing well other economies tend to do well also. Something we were talking about earlier, spotify and by passing the usual route of public offering, just going to list and put shares on the market. Explain for us why that makes a difference and how it works. Why would you come to the market, to either raise new money or to sell shares that you already have, if you are a big private company. But you dont have to do that. You can list the shares and say thats providing a value for the company, people can see the value and if people or others want to buy 01 and if people or others want to buy or sell shares in future they can. They obviously dont need to raise new money or they dont feel the need to sell existing shares theyve got. Doesnt the ipo give you the value of the stock . Exactly. So it will list on the market. The Market Players will say this is. What do you list it for . Just to provide that value. And to give you options in future. At some point you might wa nt to in future. At some point you might want to raise money. At the moment all i get is the value and thats useful. If i am all i get is the value and thats useful. Ifi am spotify all i get is the value and thats useful. If i am spotify and i go there is the shares, what do they start at . How do you price it . People will buy and sell them and theyll find a price. 0bviously people will buy and sell them and theyll find a price. Obviously the management at spotify dont wish to sell many shares and raise new capital. Interesting. Subscribers continue to grow, i think. Its a fabulous product, its been a fabulous product, its been a fabulous success for the user of that product. It doesnt make any money yet. Its normally helpful at some point in a corporate history. Like a lot of those Tech Companies, not all of them, but some not making a profit. You are going to take us through some of the paper stories. Speak to you later. Still to come. Properties compared to the same period last year. Thats according to latest figures from online property portal rightmove. For the First Time Since 2014, asking rents outside london fell in the First Quarter of the year, down by 0. 4 on the previous quarter. Theo leggett is in our Business Newsroom. Any breakdown or sign of where the biggest changes are or is this across the board . To a certain extent its across the board, yes its an average figure but the trend is that last year there were changes in stamp duty which meant a lot of people planning to invest in Rental Properties did so in a rush. Theres been this surge of Rental Properties coming on to the market. Great news if you are a representer because thats been weighing on rents and across the country the rise over the past year was only 1. 8 and in the First Quarter of the year average rents actually fell. But there is a big difference across the country. In london, for example, across the year rents have fallen by more than 496. Year rents have fallen by more than 4 . Obviously the London Market has been overheated for a while. In other areas such as manchester theyve been rising sharply, up 8 and west brom up 9 . There are regional variations but the trend is more properties on the market, thats keep ago lid on rents. V0, you have a great weekend. Stay watching. Youre definitely a redhead. We have a little snippet about lada coming up next. Redhead. We have a little snippet about lada coming up nextm redhead. We have a little snippet about lada coming up next. If you invested in one of those a few years ago, you might be making some money, i think. Dont give the story we cheeky man 0ut there he hes still there, hes still smiling. Cheeky man 0ut there he hes still there, hes stillsmiling. Have cheeky man 0ut there he hes still there, hes still smiling. Have a great weekend,. Ceo. There is a lot of reaction to the Military Strike on syria. We have got Eu Regulators Due to announce later they are going to give the green light to the 21st century fox 1 billion takeover of the uk broadcaster sky. We will keep across that story. Youre watching Business Live. Our top story. Chinas president xijinping has urged cooperation with the United States on investment, infrastructure and energy when his first meeting with President Trump. It has been overshadowed by the us air strikes on syria. We will keep across that. A quick look at how markets are faring. Investors are very cautious. We have seen investors are very cautious. We have seen the safe havens like gold and bombs have gone up. Gold and bonds. A muted, soft opening across europe. And now lets get the inside track on this weeks tech stories with our tech guru rory cellanjones. We have had a busy week with tech stories. Fake news and tesla. Lets start off with facebooks announcement that its going to step up its attempts to combat fake news. Ever since the election last year in america, facebook has been under huge pressure about its role in spreading fake news. First of all it said, i dont think this is really a big deal, they underplayed it, then it has rapidly changed tack and said, we are going to have a whole series of actions against it. Today it has launched what it calls an educational tool across 14 countries. If you have got facebook in14 countries. If you have got facebook in 14 countries you will see this advert for a guide to how to spot what they call false news. It has got ten points in it, ten tips. Really they are kind of quite sensible things. Its almost a guide to basicjournalism, check out the sources, look at the evidence, i rather like this one, look at. Lynn, shocking headlines. Well, we are all going to have to be careful with our headlines. I also like the fact that they say, make sure what you are looking that isnt just they say, make sure what you are looking that isntjust a joke. Sometimes people see satirical websites and take them seriously. The point is, they are under pressure to stop the flow of this fa ke pressure to stop the flow of this fake information from which people are actually making a lot of money. Some of it is driven by politics, obviously. A lot of it is to buy operation set up thinking, we can make money, because people clicked on this stuff, we advertise against it and make money from the advertising. A lot of people talk about the imagination. That story, the value. In less than 24 hours, you can imagine a British Company was valued at 1700 million dollars, banged down to 250 million, a small country almost entirely dependent on the Biggest Company in the world, apple. It provides Graphic Chips for apple. It provides Graphic Chips for apple. Apple announces a big move worried is going to make its own chips and it is not going to need little old Imagination Technology any more. And the shares absolutely plummeted. They fell 60 , 70 . Next day, they recovered a bit because it is now sort of speculation that obviously there will be a buyout target, and maybe they will be able to do some deal with apple which still needs a lot of technology, and is hiring people, it has hired a lot of the Imagination Technology staff. It needs to ramp up its chip production. Apple, the other half of the story, becoming a big player in making its own chips, making everything from the chips to obviously the phones, to the softwa re obviously the phones, to the software that runs on them. Powerful integrated technology company. We have got ten seconds. 0ften Tech Companies are accused of being overvalued. In this case, tesla,. Wow, tesla. Fantastically interesting company, electric car Company Owned by elon musk, made 80,000 cars last year, now worth more than ford, which made quite a few more, many millions more. In terms of car production. It is being valued as a Silicon Valley company, not as a car company. Interesting. Rory, have a great weekend. Always a pleasure. We went from tesla cars, what about this one. Picture a classic car, chances are its something very fast and very expensive a Bright Red Ferrari perhaps, or a sleek shiny porsche. But whilst the glamorous end of the Vintage Market grabs the headlines, some rather more modest models can make a handsome return for savvy collectors. One such specimen is a bog standard good old russian made lada. And if you had picked one up ten years ago, you could be sitting on a 4000 profit. My names ed hughes, im a Technology Teacher turned motoring technical writer. I have a collection of ladas and other Eastern European motoring delicacies. So, this is my 1994 lada 105, or a riva 1500 as the british market knew it. And ive had it probably about 13 14 years. Engine noise. It was given to me by a chap who basically said his wife had told him that either it went or the husband went so he sold it to me for about £50, or 65, thereabouts. Its probably worth about £2000, 2500. Its provided reliable transport for me for many years. In the meanwhile, ive got more and more of these things, which perhaps wasnt quite so sensible in retrospect. Now, if somebody offered me lets say a ferrari in exchange for my whole collection of cars, i probably wouldnt accept, because i think its very easy, anybody with a big enough cheque book can own a car like a ferrari or Something Like that. But it requires a bit more skill, a bit more care and so on, to own a collection of motorings less loved specimens. Wow i want one of those now what do you call a lada with a sunroof . A skip this is really interesting. Norwegian Sovereign Wealth Fund has come at and said that the system of Executive Pay is pretty much flawed. A lot of thinking is going into Executive Pay, not only by the norwegians but by institutions like ourselves trying to find schemes that are long term, transparent, simple, but also reflect the efforts of Senior Directors on boards and to get the right figure and the right structure. Its not straightforward. This is obviously an interesting angle from the norwegian state oil company. But many other institutions, not least ourselves, also thinking this way about the best structures to put in place. Also thinking this way about the best structures to put in Placem Comesjust best structures to put in placem comes just after best structures to put in Placem Comesjust after bp best structures to put in placem comes just after bp quite dramatically cut the pay packet for its boss. There was a huge vote against that bp package last year. But when you see the extent to which institutions like ourselves are voting against these Executive Pay deals and are working extremely hard to produce the right pay deals that suits us as shareholders, but also suits us as shareholders, but also suits the many others that or interested in these areas as well, i think youd be surprised. Were going to move onto stinky milk. I didnt realise this, the norwegian Sovereign Wealth Fund is 900 billion, but on average it owns 1. 3 of every listed company in the world. It has been a fabulous save of their assets over the years, and thatis of their assets over the years, and that is the result that they have got. I think the milk is likely off thats how you do it, you smell it. Scientists at Trinity College dublin are using nanotechnology in order to try and build a chip that can send us try and build a chip that can send usa try and build a chip that can send us a message try and build a chip that can send us a message to try and build a chip that can send us a message to our try and build a chip that can send us a message to our telephones that will tell us when the milk is off, so when we are sitting on the train on the way home, the phone will go, the milk is off, pop into the shop on the way home, job done, there you go. A useful direction for their efforts have a great weekend, richard dunbar, thank you very much. Wrap it up thats it from Business Live today. There will be more Business News throughout the day on the bbc live web page and on World Business report. Well see you again tomorrow. Good morning. The weather is set fairas we good morning. The weather is set fair as we head towards the weekend. High pressure bringing plenty of dry weather, right across the top of the british isles. Lumps of cloud floating around the high, so we are starting off this morning with extra cloud across Northern Ireland, western and Northern Scotland, north west england, wales and the west midlands. Cloud breaking up throughout the data gets piles of sunshine, thicker cloud will plague far north of scotland with some rain here. Further south in the sunshine, 17,18, here. Further south in the sunshine, 17, 18, 19 degrees could be yours. But with that, particularly across england and wales, expect high pollen levels. 0ne england and wales, expect high pollen levels. One or two problems for hay fever sufferers. During this evening and night we keep the clear spells, allowing things to turn chilly. The Odd Fog Patch developing in the south west. Towns and cities, 49. In the south west. Towns and cities, 49. In in the south west. Towns and cities, 4 9. In the countryside it in the south west. Towns and cities, 4 9. In the countryside it could be cold enough for a touch of frost. After the chilly start things are going to warm up through the weekend with plenty of sunshine. Blue skies for many during saturday once only only fog patches have cleared. Extra cloud across Northern Scotland. Brizzi here with the odd splash of rain. 4pm on saturday afternoon. If you have plans to get out and about, it looks beautiful. Cooler close to the coast with the sea breeze. But inland, 20, 201 degrees could well be achievable. Maybe 17. In parts of Northern Ireland. Across Northern Scotla nd Northern Ireland. Across Northern Scotland here always more in the way of cloud and some outbreaks of showery rain. For the Grand National at aintree, lovely weather, blue skies and sunshine, 18, maybe 19 degrees. Temperatures could rise higher as we go on into sunday. Southerly winds pulling warm air into many parts of the country, particularly central and eastern areas, eastern scotland, england and wales, sunny skies, a bit more in the way of cloud for the irish sea coast. The Weather Front bringing cloud and rain to Northern Ireland and western scotland. Further south and western scotland. Further south and east we could well see highs of 23 degrees. Dont get used to it, though. 0n 23 degrees. Dont get used to it, though. On monday, the return of colder air from though. On monday, the return of Colder Airfrom the though. On monday, the return of colder air from the north west. Though. On monday, the return of Colder Airfrom the north west. Some sunny spells but also a few showers. Hello. Its friday, welcome to the programme. Tonight i ordered a targeted Military Strike on the airfield in syria from where the Chemical Attack was launched. Just two days after a chemical weapons strike that killed 86 people, including 27 children, donald trump authorised a Cruise Missile strike on an air base in syria. Its the first direct Military Intervention from america against the Syrian Government since the flick began. The Missile Attack marks a huge change in policy by The Americans and its a hiej test of Donald Trumps presidency. We will look at what it means for him at home and within the international community. Assads role in the future is
vimarsana.com © 2020. All Rights Reserved.