Business Live: Friday 15 August 2014

Live text

Reporting:

  • Ben Morris 
  • Nick Edser 

Last updated 15 August 2014

STANDARD 06:00

Ben Morris, Business Reporter

Well we've almost made it through a busy week. Stay with us for Friday's business highlights.

STANDARD 06:00

Nick Edser, Business Reporter

Good morning. You can email us at bizlive@bbc.co.uk and tweet us at @bbcbusiness.

STANDARD 06:00 UK ECONOMY

Radio 5 live

Following a big few days for economic data, Wake Up to Money asks BBC business editor Kamal Ahmed for his 'moment of the week'. He cites the point when Bank of England governor Mark Carney was asked whether he was in muddle over the economy - he responded, no I think you're in a muddle we're being consistent. This summed up difficulty of pinpointing the state of the UK economy.

STANDARD 06:05 ARGENTINA DEBT

Argentina flag

A "financial mafia" is how Argentina described the hedge funds who are fighting a legal battle over their holdings of Argentine debt. The latest talks to settle Argentina's default on its debt broke down on Thursday. A group of international banks was close to buying part of the disputed debt. But that deal fell through.

STANDARD 06:10 EUROZONE GROWTH

Radio 5 live
euro sign

Following the dismal eurozone growth figures on Thursday, Kamal Ahmed points out that the big problems are Italy and France. He tells Wake Up to Money the two countries have failed to carry out the structural economic reforms that the UK went through in the 1980s. As a result, European Central Bank president Mario Draghi is reluctant to pump in any more money to the eurozone.

STANDARD 06:16 FOOTBALL FINANCES

Radio 5 live
Adidas kit

There is a growing disparity between the big and small clubs in English and Scottish football, says Trevor Birch from accountants, BDO on Wake Up to Money. Sponsors want a "global footprint" for the really big deals, he says and highlights Manchester United's kit deal with Adidas, worth £750m over 10 years. He also mentions "horrendous" losses in the English Championship league.

STANDARD 06:31 UK ECONOMY

Radio 5 live

More from Kamal Ahmed on the UK economy. On Wake Up to Money he says the Bank of England is still concerned about whether the UK economy has achieved "escape velocity". When that happens the Bank can begin to raise interest rates. However, it's still very difficult to say that the UK economy will not be knocked off course, Kamal says.

STANDARD 06:39 PANAMA CANAL

BBC Radio 4
Panama Canal

Some mind boggling stats from the BBC's Katy Watson who is reporting from the Panama Canal on Today. The canal is being expanded and the new lock gates are 10-storey's high and 10 metres thick. They have been shipped all the way from Italy. The canal is also celebrating its 100th anniversary.

STANDARD 06:48 THE WRONG TROUSERS?

Radio 5 live

The most alarming revelation of the morning comes when Kamal Ahmed reveals that Wake Up to Money presenter Dominic Laurie is wearing red trousers. Dominic calls them his 'trousers of last resort'.

STANDARD 06:52 EBOOKS

Radio 5 live
Kindle

Amazon's locked in a fierce row with parts of the publishing community, which don't want to see the price of ebooks lowered. "In the UK we've had ebooks priced at 20p and others priced at £15 and somewhere between that is probably about right," Philip Jones, editor of The Bookseller, tells Wake Up to Money. "I don't think it's for Amazon to set the price or for publishers, I think it's for the market to work it out."