The Bottom Line

The extraordinary success of the creation of vaccines for Covid-19 has made the business of clinical trials look simple. But appearances can be deceptive and it usually takes many years and costs hundreds of millions of pounds to bring a new drug, therapy or medical device successfully to market.Evan Davis and his guests discuss how the economics of commercial clinical trials now look for companies in the light of such a disruptive event as the pandemic. How far is greater collaboration - with start-ups partnering with big pharma and research companies - changing the way in which trials operate? And will new tech developments - like the greater, tailored use of Artificial Intelligence, digital data and advanced statistical techniques - make the process cheaper and quicker - while compromising neither safety nor patient confidentiality?Those taking part are: Nuala Murphy of the executive team at Icon plc, a Dublin-based clinical research organisation which last year worked with Pfizer/BioNTech on their Covid-19 vaccine; Houman Ashrafian, managing partner of the biotech team at SVHealth Investors, a venture capital firm with offices in London and Boston; and Avideh Nazeri, vice-president in the UK for clinical development, medical and regulatory affairs at the Danish-headquartered integrated pharmaceutical company, Novo Nordisk.Editor Hugh Levinson

Should consumers be told the carbon footprint of the products they buy? And if so, how? In recent years, a shift in customer attitudes towards climate change has caused businesses to up their game when it comes to showcasing the environmental impact of products. But just how transparent it this? How much do buyers want to know about how sustainable their shopping is? Evan Davis and guests discuss the highly complex issues around carbon labelling and how best to communicate sustainable business practices.GuestsEmma Keller, Head of Sustainability UK & Ireland, Nestle Barry Clavin, Ethics and Sustainability Reporting Manager, Co-Op Hugh Jones, Managing Director, The Carbon TrustProducer: Lucinda Borrell Sound: Neil Churchill Production Coordinators: Iona Hammond and Siobhan Reed

Electric vehicles are a hot topic. Nissan has announced it will construct a factory to produce EVs, while the government says no new vehicles running on petrol or diesel will be sold after 2030. The electric transport sector will play a crucial role in tackling climate change. But are we on track to hit these targets? Can EVs deliver the same reliable service as combustion engine vehicles and reduce "range anxiety"? Does the rolling out of this transition have consumers convinced? Evan Davis and guests discuss.Guests Lex Hartman, CEO, Ubtricity Toddington Harper, CEO, GridServe Tanya Sinclair, UK & Ireland Policy Director, ChargepointProducer Lucinda Borrell

The spending power of disabled people and their families - the so-called purple pound - is valued at £249 billion a year. So is there a competitive business advantage in designing accessible goods and services? Evan Davis and guests discuss, with examples ranging from haircare products to hotel rooms. GuestsSam Latif, Company Accessibility Leader at Proctor and Gamble Robin Sheppard, Co-Founder and President of Bespoke Hotels and Gavin Neate, Chief Executive and Founder of NeateboxProducer: Lesley McAlpine Sound: Andy Garratt

For nearly 20 years, the cruise industry experienced huge growth. Then a pandemic hit. After a year of forking out for boats docked in port and devastating headlines chronicling outbreaks early on in 2020, what does this mean for the future of cruises? How are they restarting, what barriers are they facing and - most importantly - how do they convince customers that they are indeed safe?Guests Dr Jennifer Holland, Lecturer in Tourism, Suffolk Business School Ben Bouldin, Vice President, EMA, Royal Caribbean Cruises

For years the suburbs have been seen as places to live, from which you can commute to a big city to work. But has the pandemic pushed the economic pendulum in the other direction? With more people working from home and cities becoming quieter, could this lead to a revival of the suburban economy? Evan Davis explores the national picture and hears from entrepreneurs in Denton, Greater Manchester, who have helped revive its struggling town centre, encouraging people to spend money locally.GuestsJohn Spencer, Chief Executive of BizSpace Yael Selfin, Chief Economist of KPMG in the UKProducer: Lesley McAlpine

How can businesses cope with supply shortages? Car factories across the world have had to shut down because they can't get hold of enough silicon chips. And as many economies bounce back post-Covid, other industries are facing similar problems. How can enterprises plan both for sudden falls and surges in demand and how quickly can supply chains cope? Evan Davis and guests discuss. Guests: Dr Andy Palmer, CEO of Switch Mobility Maureen O'Shea, Leader of Supply Chain and Operations Management for KPMG John Neuffer, President and CEO of the US Semiconductor Industry AssociationProducer: Lucinda Borrell

The pandemic has given a nudge to the decline of cash. If that is the past - what is the future for our payments system? Could it simply be cards linked to bank accounts, handled via apps? Or could we be approaching a pivotal moment when the exciting (or maybe alarming) world of crypto and digital currencies take over? Central banks around the world are pondering this very question and are poised to launch their own digital currencies. Evan Davis and guests look into the future of money.Guests:Professor Catherine Mulligan, visiting lecturer at Imperial College, London and director of D-Central Lab at Lisbon University, Marcus Hughes, European managing director for Coinbase, a crypto trading platform Paige McCartney, senior business reporter at the Nassau Guardian

When you have billions it's impossible to spend it all on yourself and your family. So what else do you do? Join the space race like Elon Musk and Jeff Bezos or start a foundation like Bill Gates and follow in the footsteps of the massively wealthy industrialists of the Gilded Age, like Andrew Carnegie or John D Rockefeller? What do they tell us about our world is changing for better or worse.GUESTSDr. Katharina Rietzler, Lecturer, American History, University of SussexPaul Vallely, Author, 'Philanthropy: From Aristotle to Zuckerberg'Manfred Kets de Vries, Distinguished Clinical Professor of Leadership Development and Organizational Change, INSEAD and Abigail Disney, Co-founder Fork Films and host of All Ears podcastProducer: Julie BallEditor: Hugh Levinson

It’s all around us and has pride of place in the periodic table. Hydrogen is the number one element. For decades it’s been hailed as a potentially cleaner alternative to the fossil fuels which power heavy industry, our homes and transport systems. But hydrogen from renewable sources has never quite realised its potential. It's expensive to produce. However, as the UK now has targets to cut carbon emissions, green hydrogen may have a major part to play in the clean-up. Evan Davis and guests discuss the business of hydrogen.Guests: Eugene McKenna, from the chemical giant, Johnson Matthey. Dr Laurie King, Fuel Cell Innovation Centre, Manchester Metropolitan University. And Andrew Cunningham, managing director of Geopura, a green hydrogen energy supplier Producer: Lesley McAlpine

Since Brexit, many companies have had to set up a subsidiary operation in the EU to continue trading. What are the rules, regulations, pitfalls and costs? Evan Davis hears the experience of three very different businesses, in sectors ranging from tights to cheese to architecture.GUESTSBrie Read, founder and CEO SNAG GroupRoss Hutchinson, founder and principal director, Hutchinson & Partners, architectsSimon Spurrell, founder and CEO, Cheshire Cheese Company

The government wants to boost the UK's growing space industry through its £400 m investment in satellite communications firm OneWeb. The company is a pioneer, launching satellites in Low Earth Orbit with the aim of providing broadband to under-served areas of the globe. But there are rivals, Elon Musk's Starlink Constellation being the best known. So is the UK investment in OneWeb a moonshot moment? Evan Davis and guests boldly go into discussion over what happens when you combine cutting-edge technology with uncertain business outcomes - and whether the state should be involvedGuests:Professor Marek Ziebart, UCL Chris McLaughlin, OneWeb and Carissa Christensen, CEO, Bryce Space and Technology Producer: Lesley McAlpine

The rush on shares by individual investors, into struggling US video game store chain Gamestop was portrayed as an attempt by a new breed of retail investors to thwart hedge funds which were shorting the stock. Some investors won big, others lost everything and one hedge fund, Melvin Capital, lost half of its $13bn fund. Was this really a David and Goliath fight, signalling a win for retail stock pickers, collaborating on social media platforms like Reddit? And has it changed the future of investing? Evan Davis and guests discuss. GUESTS Holly MacKay, Founder and MD, Boring Money Jack Inglis, CEO of Alternative Investment Management Association (AIMA) Mo and Danny, Online retail investors

What are the business opportunities in turning our old housing stock green? The UK has some of the least energy-efficient housing in Europe – most of it built before environmentally efficient design was regulated. It’s estimated around a quarter of the UK’s total greenhouse gas emissions come from the energy we use for heating, lighting or running appliances in our homes, public buildings or workplaces – and energy used in our homes is the most significant source.How soon can heat pumps, solar panels and better insulation around the house help the UK Government achieve its net-zero emissions target by 2050? And will this ramping up of energy efficiency measures really lead to a green jobs revolution?Guests:Dr Sara Walker, Director of the Centre for Energy, Newcastle University Neil Hargreaves, Managing Director for Northern Europe at Knauf Insulation Phil Hurley, Managing Director of Nibe, one of Europe's leading manufacturers of renewable energy products and Barry Hughes, homeowner at Springfield Meadows - an estate of carbon zero houses.Presenter: Evan Davis Producer: Lesley McAlpine

What are the long-term implications for the Covid crisis for the British economy. The government has borrowed more money over the last 12 months than ever before in peacetime. The ratio of public debt to national income is above 90%. If it rises even further do we need to worry? How will the chancellor manage the economic pain caused by coronavirus? What will it mean for tax and spending - and is there a route back to growth? Evan Davis and guests discuss.GUESTS John Kay, economist, author, consultant Dame Minouche Shafik, director of London School of Economics and Political Science, former deputy governor of the Bank of England Gemma Tetlow, chief economist, Institute for GovernmentProducer: Julie Ball Editor: Hugh Levinson

Almost five years ago on The Bottom Line - just before the EU referendum – debated the pros and cons of being in the EU. In a tribute to Radio 4’s The Reunion, the programme has reassembled most of the original contributors to get a sense of whether hopes and fears have been delivered. From current customs glitches, aspirations to increase UK global exports, to Brussels red tape versus ease of trading in a European Single Market. What do guests think now?Joining Evan Davis will be:Jon Moynihan, venture capitalist Rachel Kent, head of financial services regulation at the law firm Hogan Lovells Julia Gash, artist and entrepreneur and Christopher Nieper, managing director of clothing manufacturer David Nieper

From the NHS Test and Trace Service to the lack of PPE at the start of the pandemic - both projects branded as having been incompetently delivered. But do we fail to notice the constraints their senior leadership team operate under? Evan Davis and expert guests discuss why some big public projects like the London 2012 Games went well. While others, like Crossrail, get bogged down in delays and a budget overspend. Just how is competence measured and delivered?Guests:Sir John Armitt, Chair of the National Infrastructure Commission, former Chair of the Olympic Delivery Authority Dame Jackie Daniel, CEO of Newcastle Hospitals NHS Foundation Trust Justin King, former CEO of Sainsbury's, and Vice Chair of Terra Firma

How are industries like live music, travel, conferences and events coping with the pandemic recession - and what plans do they have for survival? These business sectors have been hit disproportionately hard by the dramatic changes in our ways of life. In a programme recorded before the recent announcement of an apparently successful vaccine trial, Evan Davis discusses with business leaders from across these industries. Producer: Julie BallGUESTSTim Hawkins, Chief Strategy Officer, Manchester Airports GroupCharlotte Gough, Divisional Director, Corporates, MCI GroupPeter Marks, Chief Executive, The Deltic Group

Commercial landlords and tenants are at odds over unpaid rents due to the pandemic. Many retail, hospitality and leisure businesses are suffering acutely. Most have landlords who collect rent for their premises. In turn, many landlords have to pay interest on their loans to the banks. The pandemic is upsetting that delicate financial balance. It's estimated that billions of pounds is owed to landlords in unpaid rents. Threats of legal action against tenants are hitting the headlines. Just who should take more of the financial hit - commercial landlords or their tenants?GuestsEdward Ziff, Chair and CEO of Town Centre Securities, a property investment firm Mark Dixon, CEO of International Workplace Group, which rents, develops and sublets office space and Charlotte Heyes, director of the small pub chain, Common and Co

How has the pandemic affected commerce in one English town? Bolton's economy has been struck particularly hard by this pandemic. Not only was it subjected to the national lockdown, but it subsequently became a hotspot, under even tighter restrictions. With a town centre that was already in decline, how has this crisis affected local businesses and what does the future hold for the town? Evan Davis and guests discuss. GUESTSJonathan Warburton, Chairman, WarburtonsJoseph Carr, Managing Director, Carrs PastiesMartyn Cox, Deputy Leader, Bolton Council Reporter: Matthew Bone Producer: Julie Ball

Is the pandemic a spur to a world of temps and zero hour contracts? Hundreds of thousands of people have been losing their jobs during the crisis. Many are turning to the gig economy to boost their income. Should we welcome the acceleration of the move away from conventional employment? Evan Davis and guests discuss the pros and cons of the expanding gig economy. GuestsXenios Thrasyvoulou, CEO of People Per Hour Lorna Davidson, CEO of Red Wigwam Matthew Taylor, CEO of the Royal Society of Arts, Manufactures and Commerce and Ed Cross, self-employed courier for Hermes

In modern business it's impossible not to be worried about a cyber attack of some form. But how do you lower your chances of attack and what do you do if someone manages to get in your system and data? Evan Davis and guests discuss.GUESTSSian John, director, EMEA, cyber security strategy, Microsoft UKGeoff White, author, 'Crime Dot Com' and investigative technology journalistJake Davis, consultant, Hacker Culture National Centre for Cybersecurity - Cyber Essentials advice for businesses https://www.ncsc.gov.uk/cyberessentials/advicePresenter: Evan Davis Producer: Julie Ball Editor: Hugh Levinson

The second pandemic wave means UK businesses have to live with uncertainty for at least another six months. Those economic green shoots and the summer of 'eat out to help out ' seem a while back. So what are the implications for jobs and overall business viability in this climate? Difficult conversations are going on in boardrooms across the country. Evan Davis with expert guests reflect on the choices businesses face in these extraordinary times. Guests Nobel economist, Professor Joseph Stiglitz Wendy Carlin, Professor of Economics at University College London and member of the advisory panel to The Office for Budget Responsibility Entrepreneur Paul Campbell, founder of Hill Capital Partner Hannah Bernard, Head of Business Banking at Barclays

WPP boss Karen Blackett talks to Evan Davis about building a racially diverse business.

The Black Lives Matter protests have prompted boardroom soul-searching about how to engage a more racially diverse workforce. Good intentions have been around for decades and have encouraged much talk about removing biases from mainly white corporate cultures. But this has still not led to the change people want. Hardly any large UK firms have black, Asian or minority ethnic chief executives. Evan Davis and guests explore the practical solutions to achieving racial equality at work and the potential benefits to the economy.Guests Karen Blackett, OBE, UK head of the ad giant WPPDr Kamal Munir, reader in strategy and policy at the Judge Business School, University of CambridgeJudith Hackitt, independent director at HS2 LTD Kike Oniwinde, founder and CEO of The Black Young Professionals NetworkProducer: Lesley McAlpineProduced in association with The Open University

Has staying at home during lockdown made us think more about our travel habits? Are you less likely to want to get on a bus or a train to get to work or are you itching to get on the next available flight? And what about the business travel industry? Are companies realising tele-conferencing is now just as acceptable and a cheaper option than a business flight? Evan Davis and guests discuss.GUESTSLaura Shoaf, managing director, Transport for West MidlandsSimon Jeffrey, policy officer, Transport and Devolution, Centre for CitiesMichael Valkevich, vice-president, Global Customer Group, EMEA, CWT Presenter: Evan DavisProducer: Julie Ball Editor: Hugh Levinson

Zoom meetings and working from home. Two habits which office workers have picked up during the enforced lockdown. But will these behaviours habits stick? Some believe that if more of us choose to work from our spare rooms on a regular basis, this will have profound implications for offices, commuting, human interaction and productivity. Evan Davis and guests discuss whether current predictions about the death of the office are over-exaggerated. Guests André Spicer, Professor of Organisational Behaviour, City's Business School, University of London Rachel Higham, Managing Director of IT at BT Katrina Kostic Samen. Head of Workplace - Strategy and Design, Development. KKS SavillsProduced by Lesley McAlpineThe programme is produced in association with The Open University

Evan Davis and guests ask if now is the time to exploit scientific research more effectively to help business recover from the coronavirus crash. The UK has traditionally been better at basic science research than its commercial exploitation - with examples ranging from computing to the discovery of graphene, where international companies have benefited more from those discoveries. The Bottom Line examines the government’s idea of creating an agency, similar to the legendary US Defence Advanced Research Projects Agency (DARPA), to invest in, and commercialise UK science and technology projects. The US agency DARPA, was set up to invest in technology after they got behind in the space race with the Russian launch of the Sputnik in the 1950's. Although the agency's remit is to work on defence projects, several of its discoveries have spawned more commercial uses, most famously the Internet. Now the UK government wants to emulate this success for civil applications in the hope of encouraging new business sectors of the economy, post-Covid 19. Can it work? Evan Davis and guests discuss. Guests: Mariana Mazzucato, professor in the economics of innovation and public value, University College London Luke Georghiu, professor of science and technology management, Alliance Manchester Business School Arati Prabhakar, former director, Defence Advanced Research Projects Agency (DARPA) Naomi Krieger Carmy, head of Societal Challenges Division, Israel Innovation Authority Producer: Julie Ball Produced in partnership with The Open University

During the pandemic, businesses have faced severe tests, from supply chain shocks to fluctuations in consumer demand. How resilient are companies in dealing with the unknown? In recent years the focus has been on getting costs down, creating lean supply chains, and delivering returns to shareholders. But has that emphasis left supply chains insecure in the face of shocks? Will companies learn to value resilience over mere efficiency?GuestsDr Sandra Bell, founder and chief executive of The Business Resilience Company. Michael Davies, guest lecturer at the London Business School and founder and chairman of Endeavour Partners Poonam Gupta, founder and chief executive of PG Paper Guy Gratton, associate professor in aviation and the environment at Cranfield University

What have you learned about yourself in lockdown? What is it you crave, what have you found you barely miss? Evan Davis and guests contemplate life after lockdown and changing consumer habits. A surge in the sale of bikes, toilet roll panic buying, and flour flying off the supermarket shelves. Will these consumer habits stick? Have we learned to value other things in life than shopping? Or will we just want to borrow and spend at the first possible opportunity?Guests:Kate Ancketill, founder and CEO, GDR Creative Intelligence Richard Walker, managing director, Iceland Foods Jonathan Cole, managing director, Velorution Kate Nicholls, chief executive, UK HospitalityProducer: Lesley McAlpine

Will Western economies and companies decouple from China? For decades, the world has relied on this rapidly emerging economy as its factory, producing everything from toilet rolls to iPhones. But post Covid-19, US trade wars and tensions with Hong Kong, is that all about to change? Evan Davis and guests discussGUESTSLiam Casey, CEO and founder, PCH InternationalDiana Choyleva, chief economist, Enodo EconomicsDr. Yu Jie, senior research fellow, China, Chatham House

Should the government continue to bolster companies, large and small when lockdown is finally eased? If so what businesses do you choose to save and what are the criteria? Evan Davis and guests discuss.GUESTSMichael Jacobides, holder of the Sir Donald Gordon Chair of Entrepreneurship and Innovation, London Business SchoolJulie Palmer, Regional Managing Partner, Begbies Traynor, Insolvency practitionersMark Blyth, Director of the William R Rhodes Centre for International Economics and Finance, Brown UniversityProduced in association with The Open University

Can new businesses survive without some form of hype or over-promotion? Or will consumer or investor disillusionment inevitably correct this? One recent example where hype came back to bite a company founder is that of the shared office space provider, WeWork. Its stock market valuation fell from $50bn to near bankruptcy over the course of a few weeks. GUESTSBrent Hoberman, serial entrepreneur and investor, chair and co-founder of Founders Factory and First Minute Capital Kerry Baldwin, Managing Partner at IQ Capital,a venture capital investment firm Rory Sutherland, Vice Chair of Ogilvy, the global advertising and marketing agency

How will the infection affect commerce in the UK and around the world? Evan Davis and a panel of guests discuss what's happening to the economy and look at likely scenarios. Jennifer McKeown, Chief Global Economist, Capital Economics, Gloria Guevara, CEO of the World Travel and Tourism Council. Tim Power, MD of maritime and shipping container research firm Drewry. Producers: Lesley McAlpine and Julie Ball Researcher: May Cameron

Is our working week due for major reform? Will a move to a four day week - as proposed by the Labour Party in its recent General Election manifesto - ever happen? From shorter hours to more flexibility in the workplace, what will the modern world of work be like in ten years time? Evan Davis and guests discuss the latest trends. Guests appearing on The Bottom Line Kate Cooper, Head of Research, Policy & Standards, Institute of Leadership and Management David Stone, CEO of MRL Recruitment and Karen Jansen, Professor in Leadership Challenge at Henley Business School

What are the pros and cons of running a business with your life partner and how do you keep the personal out of your professional life? Evan Davis and guests discuss.GUESTSSophie Mirman and Richard Ross, founders and owners, Trotters childrenswear and accessoriesClaire and Andy Burnet, founders and owners, Chococo artisan chocolatiersPeter Leach, author and Adjunct Professor in Family Business , Imperial College Business SchoolProducer: Julie Ball Editor: Hugh Levinson

What are the rules when people have to lose their jobs? It's always a difficult situation - which is why it's often handled badly. Evan Davis and guests ask if there is a better way of doing it.GUESTSAngela O'Connor, Founder and CEO, The HR Lounge ConsultancySian Keall, Partner, Employment Law, Travers Smith LLPKate Griffiths-Lambeth, Group HR Director, Charles Stanley, Wealth ManagersProducer: Julie Ball Editor: Hugh Levinson

Do business gurus really hold the secret to success? Peter Drucker, Michael Porter and Gary Hamel are some of those who've found fame and influence via best-selling business books. But can following their lead transform a company - or are they really just selling themselves? Evan Davis and guests assess the pros and cons of buying from the ideas merchants.GUESTS Lynda Gratton, professor of management practice, London Business School, CEO The Hot Spots Movement John Kay, economist, author and consultant Eddie Obeng, founder and director of PentacleProducer: Julie Ball Editor: Hugh Levinson

How should businesses deal with workplace quarrels? At a time when the nation seems increasingly divided and hot-tempered, is there a way to bring harmony among staff when there are differences of opinion and personality? Evan Davis and his guests explore what can go wrong and look for some possible solutions. In a very cooperative spirit, naturally. GUESTS: Naomi Shragai: psychological business consultant and Financial Times contributor Roxana Mohammadian-Molina, Chief Strategy Officer, Blend Network David Liddle, founder and CEO, The TCM GroupProducer: Julie Ball

The number of companies in 'financial distress' in the UK is on the rise. What's causing the problems and what exactly happens when a company goes into administration? Evan Davis and guests discuss.Guests:Julie Palmer, Insolvency practitioner, Begbies TraynorAndy Scott, Chairman, REL CapitalDr Rebecca Parry, Director, Centre for Business and Insolvency, Nottingham Trent UniversityProducer: Julie Ball

How can business benefit from the popularity of vegetarian and vegan products in supermarkets and restaurants? One in eight of us identifies as vegetarian or vegan, but that's not enough to have boosted the market so significantly. So what is happening and is it sustainable? Evan Davis and guests discuss.GUESTSKevin Brennan, CEO Quorn Tommaso Chiabra, venture capitalist and CEO Tommaso Chiabra HoldingsRachel Hugh, Co-founder, The Vurger CompanyProducer: Julie Ball

Will Facebook's launch of its own cryptocurrency be a game changer? What will this mean for established currencies and the global banking system? Evan Davis and guests discuss.GUESTSJutta Steiner, Chief Executive Officer, Parity TechnologiesDr. Catherine Mulligan, Chief Technology Officer of Gov Tech Labs and Data Net at University College, London Barbara Mellish, Chief Executive Officer, Centre for Citizenship, Enterprise and GovernmentPresenter: Evan DavisProducer: Julie Ball

How can the aviation industry marry sustainability with increasing passenger numbers? Since the deregulation of Europe's airlines in the late 1990s, more and more of us have been flying every year. Whilst this may be good news for the airline industry, it's not good news for the environment. Manufacturers are trying to make models lighter and more fuel efficient, with a pledge by IATA to cut emissions to 50% by 2050. Nevertheless, experts say we are at least fifteen years away from hybrid engine powered flight. Evan Davis and guests ask whether commercial aviation can meet its climate targets through new technology and more fuel efficient engines, whilst keeping costs down for the airlines and the customer?GUESTSPaul Kahn, president, Connectivity, Cobham PlcVolodymyr Bilotkach, economist, author of The Economics of AirlinesRob Morris, head of Global Consultancy, Ascend by CiriumPresenter: Evan DavisProducer: Julie BallEditor: Hugh Levinson

What can we learn from how one medical start-up fooled Silicon Valley and the world? Elizabeth Holmes dropped out of Stanford University at 19 to start Theranos. She promised investors and the public a revolutionary blood diagnosis machine which would be less painful, accessible and affordable than ordinary lab tests. She managed to raise $9 billion in funding. Now the company is worth nothing. Holmes and her business partner may face up to 20 years in prison for fraud. How did she manage to deceive some of the world's cleverest minds - and is there something about start-up culture and the cult of the visionary leader which encourages charlatans? Evan Davis and guests discuss. GUESTS Rebecca Jarvis, chief business, economics and technology correspondent, ABC News Margaret Heffernan, author and entrepreneur Jos White, entrepreneur and partner, Notion CapitalProducer: Julie Ball

You trust financial professionals to grow your long term savings and pension pot. But how do you know if they are investing it wisely? The UK investment industry is awash with complicated terms and conditions, and unclear and sometimes high charges, which can eat into your monetary returns. The woes of star fund manager Neil Woodford, who has temporarily frozen one of his funds to its investors after poor performance, highlights just how complicated an industry it is. Is some clarity starting to emerge? Evan Davis and expert guests look under the bonnet of the UK investment industry.Guests: James Anderson, partner at Baillie Gifford, who jointly manage the Scottish Mortgage Investment Trust Bella Caridade Ferreira, chief executive and founder of Fundscape Sean Hagerty, managing director of Vanguard EuropeProducer: Lesley McAlpine

Poundland, Lidl, B&M Bargains and Primark are thriving successes on the High Street, while more mainstream retailers have seen their profits hit. Just how do the discounters keep their prices so low? Keeping the business model simple, supply chains lean and costs down are key parts of the story.Guests: Barry Williams, Managing Director of Poundland Simon Arora, Chief Executive, B&M Bargains Catherine Shuttleworth, Chief Executive of Savvy Marketing

Can a sudden change in direction save a new company? Evan Davis and his guests hear stories about the start-up's nightmare: the original product is not selling, and cash is running out. Can changing focus - with a new service or product - pluck success from the jaws of doom? Speaking to entrepreneurs and experts, he learns about how in a range of sectors, from sanitary products to event ticketing, the key is to shift while staying true to the original vision. Guests: Celia Pool, cofounder DAME Edmund Glover and Nick Stone, FIXR Ramdane Mir, cofounder Cobbleweb

From Somali pirates who've turned kidnapping into a global enterprise to cybercrime and fraud - the worlds of business and wrongdoing potentially have much in common. Clever criminals build business empires and fraud is sometimes carried out by well paid workers at legitimate companies. What the two worlds can have in common is a pursuit of profit and a series of apparently rational calculations. Evan Davis and guests explore why some bright, talented people try to get rich the wrong way, while others manage to do it within the rules.GuestsBarrister, Sara George, a partner at Sidley Austin LLP Michael Corrigan, Chief Executive at Prosper 4 - a training and recruitment firm for former prisoners and Dr Anja Shortland, Reader in Political Economy at King's College, London.

Who wins and loses in the cut-throat exercise market? Looking good and being fit has become more important as we have become more wealthy. Yet most new gyms and fitness centres fail. Evan Davis and his guests work out the secrets of success in this growing industry, which is is worth over £5 billion in the UK.GUESTSStuart Broster, CEO, Anytime Fitness UKTommy Matthews, Managing Director, Be Military FitDawn Tuckwell,, Director and Co-founder, Action PRPRESENTER: Evan DavisPRODUCER: Julie Ball

The package brought to your door may have crossed the globe - but the most expensive and fiddly bit of the journey will undoubtedly be what's known as 'the last mile'. Delivery firms are constantly innovating how they do this - using electric vehicles and e cargo bikes, robots, or offering customers a click and collect option at a local store of their choice. Consumers take it for granted that they will get free delivery in many cases. But is the whole 'last mile' industry sustainable? Delivery vans add to traffic congestion and consumers are ordering more than they need and returning unwanted goods for free. Evan Davis and guests discuss the latest trends in the logistical puzzle of 'the last mile.' GuestsJon Ormond Operations Director of Hubs and Depots at parcel carrier, Hermes. Nick Hale, Managing Director of BT Ventures. and Catherine Weetman, founder of Re-think solutions.