Browse content similar to 13/07/2012. Check below for episodes and series from the same categories and more!
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The Chelsea footballer John Terry has been found not guilty of | :00:04. | :00:08. | |
racially abusing another player. After five days in court, the | :00:08. | :00:11. | |
former England captain left with his name cleared and an endorsement | :00:12. | :00:21. | |
:00:22. | :00:22. | ||
from his club chairman. We are pleased that John can now put his | :00:22. | :00:26. | |
mind to football and go back to training, and do what he has done | :00:26. | :00:29. | |
for many years. We'll be looking at where the | :00:29. | :00:31. | |
verdict leaves John Terry and the not-so-beautiful game. | :00:31. | :00:34. | |
Also tonight: Reports of another mass killing in | :00:34. | :00:37. | |
Syria - the US Secretary of State condemns it as deliberate murder of | :00:37. | :00:41. | |
innocent civilians. The banks are given �80 billion but | :00:41. | :00:47. | |
only on condition that they lend it. From the top down to the bottom. | :00:47. | :00:52. | |
Rangers Football Club is booted into the Scottish Third Division. | :00:52. | :00:55. | |
China still building for a prosperous future, but is the | :00:55. | :01:01. | |
economic boom over? And as HMS Ocean eases up the | :01:01. | :01:04. | |
Thames to provide security for the Games, how much of a boost will | :01:05. | :01:14. | |
Britain's David Millar wins his first Tour de France stage for nine | :01:14. | :01:24. | |
:01:24. | :01:37. | ||
years, as Bradley Wiggins retains Good evening. | :01:37. | :01:41. | |
The Chelsea football captain, John Terry, has been cleared of shouting | :01:41. | :01:44. | |
racist abuse at another player. Anton Ferdinand had claimed that | :01:44. | :01:48. | |
Terry had made a racist comment to him during a Premier League match | :01:48. | :01:51. | |
last October. The magistrate, giving his verdict, said there was | :01:51. | :01:55. | |
no doubt that John Terry had used racist and insulting language but | :01:55. | :01:58. | |
that it was possible the former England captain had merely been | :01:58. | :02:08. | |
:02:08. | :02:11. | ||
repeating what he believed had been said to him. Dan Roan was in court. | :02:11. | :02:15. | |
After a ten-month ordeal, John Terry emerged today to the cheers | :02:15. | :02:19. | |
of his supporters. The former England captain was here because of | :02:19. | :02:23. | |
what he had been accused of saying. But having finally cleared his name, | :02:23. | :02:28. | |
he made no comment. It was during this game between Queen's Park | :02:28. | :02:32. | |
Rangers and Chelsea that Terry admitted using the word black and a | :02:32. | :02:36. | |
series of obscenities towards opponent Anton Ferdinand, when they | :02:36. | :02:41. | |
traded insults. The court was shown the footage and the prosecution | :02:41. | :02:45. | |
claimed Terry was guilty of racist abuse, but he insisted he had | :02:45. | :02:51. | |
merely been repeating an accusation Ferdinand had made. The chief | :02:51. | :02:54. | |
magistrate said, except it is possible that Mr Terry believed at | :02:54. | :02:58. | |
the time and believes now that such an accusation was made. It is | :02:58. | :03:02. | |
therefore possible that what he said was not intended as an insult, | :03:02. | :03:06. | |
but rather as a challenge to what he believed had been said to him. | :03:06. | :03:10. | |
In those circumstances, there being a doubt, but the only verdict the | :03:10. | :03:14. | |
court can record is one of not guilty. Terry remained impassive | :03:14. | :03:17. | |
when the verdict was read out, leaving his club to express their | :03:18. | :03:24. | |
relief. We are pleased that John can now put his mind to football | :03:24. | :03:29. | |
and go back to training, and do what he has done for many years. | :03:29. | :03:32. | |
While Terry was leaving court, Ferdinand headed out of the country | :03:32. | :03:37. | |
on a pre-season tour with his club, left to reflect on what has been a | :03:37. | :03:42. | |
trial for him, too. Terry has been the epitome of the passionate, | :03:42. | :03:45. | |
uncompromising leader for club and country for more than a decade, | :03:45. | :03:49. | |
with the medals to prove it. But he has made headlines for the wrong | :03:49. | :03:53. | |
reasons, too, losing the England captaincy twice, first over an | :03:53. | :03:56. | |
alleged affair with the ex-partner of former team-mate Wayne Bridge | :03:56. | :04:02. | |
and then again, ahead of this case. He has gone through so many things | :04:02. | :04:05. | |
before. This is another thing that he would have gone through but I | :04:05. | :04:10. | |
suspect this may be the biggest relief he has ever had. This case | :04:10. | :04:14. | |
was always going to be of huge importance to John Terry's career | :04:14. | :04:17. | |
and reputation but the ramifications extend beyond that, | :04:17. | :04:22. | |
to the FA and Football at large. The fight against racism in | :04:22. | :04:25. | |
football has made strides in the last 20 years, but for those who | :04:25. | :04:29. | |
lead that campaign this has highlighted the fact that | :04:29. | :04:33. | |
challengers remain. We have to attack that with the same vigour, | :04:33. | :04:37. | |
with education at grass roots, zero-tolerance, application of | :04:37. | :04:40. | |
sanctions when proven beyond reasonable doubt. And I think it | :04:40. | :04:44. | |
has not helped the game. It is a sorry day for football, make no | :04:44. | :04:49. | |
mistake about it. An unedifying week for football ends with John | :04:49. | :04:53. | |
Terry walking away with his reputation intact, but given who he | :04:53. | :04:57. | |
is and what was said that day, the sport might take time to recover. | :04:57. | :05:01. | |
Dan joins us from outside Wembley. Where does this leave John Terry | :05:01. | :05:08. | |
and the game of football? This might be the biggest result of John | :05:08. | :05:13. | |
Terry's life, but the story may not be over. Next week, I understand, | :05:13. | :05:17. | |
the FA will reopen their own investigation into the incident. | :05:17. | :05:22. | |
Regardless of today's verdict, they may still decide to charge John | :05:22. | :05:25. | |
Terry. That would involve a lower burden of proof and a potentially | :05:25. | :05:30. | |
higher punishment if found guilty and then he faced in the criminal | :05:30. | :05:33. | |
court. For the game and for the FA here this evening at Wembley this | :05:33. | :05:38. | |
was seen as something of a landmark case, coming as it does as the | :05:38. | :05:42. | |
latest example in a series of controversy is related to race | :05:42. | :05:45. | |
relations in the sport. There are many who fear it has gone | :05:45. | :05:49. | |
significant damage to the efforts to combat discrimination in the | :05:49. | :05:53. | |
game. It exposed and laid bare insults and abuse in the | :05:53. | :05:57. | |
professional game at a time when the Respect campaign is trying to | :05:57. | :06:02. | |
improve the image of football to youngsters up and down the country | :06:02. | :06:04. | |
this week. There are very few winners. | :06:04. | :06:07. | |
The Syrian government's use of tanks and helicopters in a reported | :06:07. | :06:10. | |
mass killing is an "outrageous violation" of UN resolutions, | :06:10. | :06:13. | |
according to the international envoy Kofi Annan. The US Secretary | :06:13. | :06:16. | |
of State, Hilary Clinton, has tonight condemned as "deliberate | :06:16. | :06:20. | |
murder" the deaths in the isolated village of Tremseh. But conflicting | :06:20. | :06:24. | |
accounts have emerged about what actually happened there yesterday. | :06:24. | :06:33. | |
Bridget Kendall's report contains some distressing images. | :06:33. | :06:37. | |
The shrouded bodies of the dead, in what is alleged to be a mass | :06:37. | :06:41. | |
killing in Tremseh, one small enough to be a child's. But the | :06:41. | :06:45. | |
footage is unverified and it is unclear if the victims were | :06:45. | :06:49. | |
villagers or mostly opposition fighters. Some of the dead and | :06:49. | :06:53. | |
wounded seemed to be young men of fighting age. Either way, local | :06:53. | :06:57. | |
activists claimed the village was bombarded by tanks and helicopters | :06:57. | :07:02. | |
and then stormed by pro-government militia. This is a very small | :07:02. | :07:09. | |
village, no more than 11,000 people. It was visited by a very big number | :07:09. | :07:14. | |
of troops and armoured vehicles and tanks. More than 250 people were | :07:14. | :07:19. | |
killed. In Damascus, the head of the UN peacekeeping mission | :07:19. | :07:22. | |
confirmed heavy weapons had been used, but said his team had not yet | :07:22. | :07:30. | |
been able to go there. If we have a credible cessation of violence and | :07:30. | :07:35. | |
a local ceasefire, we stand ready to going to verify the facts on the | :07:35. | :07:40. | |
ground. Syrian state TV blamed armed terrorists for the attack, | :07:40. | :07:46. | |
although a later report confusingly suggested a Syrian army operation | :07:46. | :07:50. | |
against opposition fighters. What is clear is that the mandate for | :07:50. | :07:54. | |
the UN peace mission runs out next Friday and the UN Security Council | :07:54. | :07:58. | |
is split. The Russians have been objecting to any new peace mission | :07:58. | :08:03. | |
being tied to the threat of new sanctions against Syria. Whatever | :08:03. | :08:08. | |
happened in Tremseh, Syria is under mounting pressure. The US Secretary | :08:08. | :08:12. | |
of State, Hillary Clinton, talked about deliberate murder. The UN | :08:12. | :08:16. | |
envoy, Kofi Annan, described the violence as an outrageous violation | :08:16. | :08:21. | |
of his peace plan. And the UN Secretary General, Ban Ki-Moon, | :08:21. | :08:25. | |
said it cast serious doubts on President Assad's commitment to | :08:25. | :08:29. | |
peace. Tonight, there were new opposition | :08:29. | :08:34. | |
reports of Syrian government troops firing on protesters in Damascus. | :08:34. | :08:39. | |
If true, that is something else for the UN peace envoy, Kofi Annan, to | :08:39. | :08:42. | |
raise with President Putin when he meets him in Moscow on Monday in | :08:42. | :08:47. | |
what is shaping up to be a crucial week for diplomacy on Syria. | :08:47. | :08:50. | |
A new scheme designed to stimulate bank lending has been launched | :08:50. | :08:53. | |
which, the Chancellor claims, will make it easier for families and | :08:53. | :08:57. | |
businesses to get loans. Up to �80 billion will be made available to | :08:57. | :09:01. | |
banks and building societies. They will be able to borrow money at a | :09:01. | :09:04. | |
cheap rate of interest provided they maintain or increase the | :09:04. | :09:12. | |
amount they lend. Here's our chief economics correspondent, Hugh Pym. | :09:12. | :09:17. | |
It is a new move to try to boost lending and kick-start the economy. | :09:17. | :09:22. | |
The aim is around �80 billion of extra loans to be made by banks, 5% | :09:22. | :09:26. | |
of current lending. It is another business loans initiative from the | :09:26. | :09:30. | |
Chancellor, visiting a crane manufacturer in Derbyshire today. A | :09:30. | :09:35. | |
previous policy, project Merlin, had mixed results. He says this | :09:35. | :09:40. | |
will make a difference. This scheme is very straightforward. The bank's | :09:40. | :09:42. | |
only get the money if they are lending water businesses and | :09:42. | :09:47. | |
families. The end result is that a thermite this will see cheaper | :09:47. | :09:50. | |
loans, families will see a cheaper mortgage, so they will have more | :09:50. | :09:55. | |
money to spare. Borrowing costs have risen, and the new scheme will | :09:55. | :09:59. | |
provide cheaper credit to the banks. The Bank of England hopes to lend | :09:59. | :10:01. | |
around �80 billion to banks and building societies, with an | :10:01. | :10:06. | |
interest rate of 0.75%, as long as they maintain or increase lending | :10:06. | :10:10. | |
to companies and households. If lending falls, there will be | :10:10. | :10:15. | |
penalties, with the borrowing cost rising as high as 2%. The deal is | :10:15. | :10:18. | |
that Bank of England money should get into the hands of businesses or | :10:18. | :10:22. | |
consumers, but there is no rule that says there are some of it must | :10:22. | :10:25. | |
get to small firms or first-time homebuyers. And that raises | :10:25. | :10:29. | |
questions about how widely the new loans will go across the whole | :10:29. | :10:35. | |
economy. It has come too late for this motor repair business. A loan | :10:35. | :10:38. | |
for expansion was refused by banks and the boss had to remortgage his | :10:38. | :10:42. | |
house to get the money. His frustration is typical of many | :10:42. | :10:48. | |
small firms. I find it annoying that even with someone's track | :10:48. | :10:50. | |
record like mine, and the relationship I thought I had with | :10:50. | :10:55. | |
my bank, there is no loyalty and no common sense applied to help the | :10:55. | :10:59. | |
small business. To help to judge the success of the scheme, a league | :10:59. | :11:02. | |
table of banks and their lending totals will be published by the | :11:02. | :11:07. | |
Bank of England. We will take the unusual step of disclosing bank by | :11:07. | :11:11. | |
Bank usage of the scheme, how much they draw down from us and how much | :11:11. | :11:14. | |
they change their lending. That competitive pressure will add to | :11:14. | :11:18. | |
the economic incentives built into the scheme and make sure that the | :11:18. | :11:22. | |
banks do their best to achieve what we want them to. Business | :11:22. | :11:26. | |
organisations have welcomed the scheme. The question is whether | :11:26. | :11:29. | |
high street banks will take the Bank of England's cheap money and | :11:29. | :11:32. | |
come up with new loans. Rangers, one of Scotland's oldest | :11:32. | :11:35. | |
and most successful clubs, has suffered a spectacular fall from | :11:35. | :11:39. | |
grace and next season will play in the Third Division. The decision | :11:39. | :11:42. | |
was made after Scottish Football League clubs voted to allow the | :11:42. | :11:45. | |
newly re-formed Rangers to re-enter the game after it went into | :11:45. | :11:48. | |
administration, but only at the lowest level. From Glasgow, James | :11:49. | :11:58. | |
:11:59. | :12:04. | ||
Rangers are Scotland's most successful football club with more | :12:04. | :12:08. | |
trophies in the Cabinet than any since 1872. But they have been | :12:08. | :12:11. | |
living beyond their means, buying stars they could not afford and | :12:12. | :12:19. | |
running up huge debts. Today, the run -- the reckoning. They must | :12:19. | :12:23. | |
join the Third Division. Today's decision has been the most | :12:23. | :12:26. | |
difficult for all concerned but it has been taken in the interests of | :12:26. | :12:30. | |
sporting fairness, which is a fundamental principle of the | :12:30. | :12:36. | |
Scottish Football League. The new owner of Rangers says that his team | :12:36. | :12:42. | |
is happy to play where it is told to play. This club maintains a | :12:42. | :12:45. | |
sporting integrity that Scottish fans have been calling for but it | :12:45. | :12:50. | |
also affects massively on Scottish football as a whole and only time | :12:50. | :12:54. | |
will tell what those consequences will be. There could be severe | :12:54. | :13:04. | |
television -- these could be severe. Television bankrolls much of | :13:04. | :13:08. | |
football but without the Old Firm derby to being around the world, | :13:08. | :13:11. | |
the consequences could be catastrophic. Anywhere up to half | :13:11. | :13:15. | |
of the clubs and SPL are in financial positions that are | :13:15. | :13:21. | |
precarious. If you influence those clubs, there is a risk to the | :13:21. | :13:25. | |
stability of those businesses. Lower down the leagues, the smaller | :13:25. | :13:29. | |
clubs may benefit. Third Division Montrose were founded in the same | :13:29. | :13:35. | |
decade as Rangers and they have not enjoyed the same success. This week, | :13:35. | :13:39. | |
they are hosting schoolboys. Soon there will be more famous | :13:39. | :13:44. | |
opposition. These terraces are rarely packed when Saturday comes. | :13:44. | :13:49. | |
But that will change when Rangers are the visitors. As well as the | :13:49. | :13:52. | |
excitement that the Glasgow giants will bring, it will also mean more | :13:52. | :13:57. | |
money to help develop the next generation of Scottish footballers. | :13:57. | :14:02. | |
That is no comfort for Rangers. They have been humiliated, but if | :14:02. | :14:09. | |
other big clubs go bust as a result, they may yet have their result. | :14:09. | :14:14. | |
Coming up on the programme: They were neighbours raising money for | :14:14. | :14:17. | |
charity. Two of the Britons killed in the avalanche in the Alps are | :14:18. | :14:25. | |
named. From midnight tonight, Typhoon jets | :14:25. | :14:28. | |
and Puma helicopters well be ready to patrol the skies over central | :14:28. | :14:33. | |
London protecting the Olympic Park in Stratford. The largest vessel of | :14:33. | :14:37. | |
the Navy, HMS Ocean, has sailed into place close to the Thames | :14:37. | :14:42. | |
barrier. Defence makes up one element of the multi-billion-pound | :14:42. | :14:45. | |
budget spent on hosting the Games. David Cameron says the Olympics | :14:45. | :14:49. | |
will be a major boost for the British economy, but will it? With | :14:49. | :14:53. | |
his assessment, our sports editor David Bond. | :14:53. | :14:57. | |
HMS Ocean sailing into London tonight to help shore up the | :14:57. | :15:02. | |
capital security plans ahead of the Olympics. It has been a difficult | :15:02. | :15:05. | |
few days organisers but the increased role of the military has | :15:05. | :15:09. | |
only underlined how much is at stake. This is a massive project, | :15:09. | :15:15. | |
which has cost billions of pounds. With the UK economy still | :15:15. | :15:20. | |
struggling, are the games really worth it? This man certainly thinks | :15:20. | :15:25. | |
so. As Prime Minister, Tony Blair gave the green light to London's | :15:25. | :15:30. | |
bid for the Olympics. Seven years on, he says he would do it all | :15:30. | :15:38. | |
again. The best question to ask yourself is would Paris, Madrid or | :15:38. | :15:42. | |
New York if they could be the country about to host this be | :15:42. | :15:45. | |
hosting this now even though they have got financial difficulties, | :15:45. | :15:49. | |
particularly Madrid? The answer is, yes, they would want to do it | :15:49. | :15:52. | |
because it would be an enormous opportunity to present their | :15:52. | :15:57. | |
countries to the world. The budget of �9.3 billion was set by the | :15:57. | :16:02. | |
Labour Government in 2007. A David Cameron now says the benefits will | :16:02. | :16:07. | |
be worth �13 billion, in business deals and tourism. It is a | :16:07. | :16:11. | |
perfectly credible number. You can debate the numbers endlessly. What | :16:11. | :16:15. | |
is certainly true is that the Olympics brings a big pay back | :16:15. | :16:18. | |
financially. Putting on the Games and building this a Olympic Park | :16:19. | :16:24. | |
has cost a lot of public money. But the Government says the UK economy | :16:24. | :16:29. | |
will get that back and more. How can they be so confident? A closer | :16:29. | :16:32. | |
look at the Government's claims suggests the figures are not so | :16:32. | :16:37. | |
certain with talk of potential economic benefit. Projects that UK | :16:37. | :16:40. | |
businesses have the capability to bid for. And high-value | :16:40. | :16:45. | |
opportunities. The Prime Minister used the phrase that he was | :16:45. | :16:50. | |
confident because he said this as an aspiration, and ambition. | :16:50. | :16:55. | |
you certain? It is not just something in a Government's gift. | :16:55. | :16:59. | |
We need to work with the private sector, our biggest companies and | :16:59. | :17:04. | |
small companies and we have to get out there and turn this into jobs | :17:04. | :17:07. | |
for British businesses. Perhaps people will not be worrying too | :17:07. | :17:11. | |
much about the cost when the sport gets under way in two weeks. This | :17:11. | :17:15. | |
is the water polo venue, dressed and ready for the Games. But the | :17:15. | :17:20. | |
whole country is being asked to put a lot in two London's Olympic party. | :17:20. | :17:23. | |
The real challenge will be to make sure that we get something out of | :17:23. | :17:29. | |
it when it is all over. Two of the three Britons killed in | :17:29. | :17:33. | |
yesterday's avalanche in the French Alps have been named. They were | :17:33. | :17:36. | |
John Taylor and Steve Barber, neighbours from Yorkshire, who had | :17:36. | :17:41. | |
been raising money for the local hospice. They had been making the | :17:41. | :17:44. | |
ascent with the veteran mountaineer Roger Payne who also died. Nine | :17:44. | :17:49. | |
climbers were killed in total. We report from Chamonix. | :17:49. | :17:53. | |
Three British climbers among the nine that died. This is Roger Payne | :17:53. | :17:59. | |
in the Himalayas in 2003. He was a hugely experienced mountaineer and | :17:59. | :18:04. | |
guide. At today, the other two British climbers who died with him | :18:04. | :18:07. | |
were named. John Taylor and his friend Steve Barber, both from | :18:07. | :18:13. | |
Yorkshire. This is the aftermath of the avalanche that killed them. A | :18:13. | :18:20. | |
massive wall of snow and ice that hurtled down the mountain. It was | :18:20. | :18:24. | |
in the early hours of Thursday morning. One of the survivors was | :18:24. | :18:27. | |
lucky to avoid the full force of the impact after beginning his | :18:27. | :18:32. | |
climb a few minutes late. TRANSLATION: It was still dawn so | :18:32. | :18:36. | |
we could not see much. We took the force of the snow but we could | :18:36. | :18:40. | |
still resist. But then big chunks of snow fell on us and so we were | :18:40. | :18:47. | |
swept away. In a Yorkshire village of Poppleton, tributes were paid | :18:47. | :18:49. | |
today to John Taylor and Steve Barber. They have been climbing | :18:49. | :18:53. | |
Mont Blanc for charity. The two men lived on the same street and they | :18:53. | :18:58. | |
both leave behind young families. Steve's long-term partner said that | :18:58. | :19:03. | |
both men are loved the outdoors. They were keen walkers and climbers. | :19:03. | :19:06. | |
There were tributes from the climbing world, too, for Roger | :19:06. | :19:14. | |
Payne. He was young, immensely energetic, immensely enthusiastic, | :19:14. | :19:19. | |
a terrific hard worker. That is what he has been all his life. | :19:19. | :19:23. | |
do we know of the accident? The first of 28 climbers left a | :19:23. | :19:27. | |
mountain hut above Chamonix at 2 o'clock in the morning. They used | :19:27. | :19:30. | |
to a route to Mont Blanc passing Mont Maudit. It was three hours | :19:30. | :19:34. | |
into their climb and roped together that the group was hit. It is | :19:34. | :19:38. | |
thought that falling ice or possibly climbers themselves set | :19:38. | :19:47. | |
off the slab avalanche, are falling block of snow 100 metres wide. | :19:47. | :19:51. | |
Rescuers received the emergency call at 5:20am. And that is why it | :19:51. | :19:54. | |
happened, somewhere up in the clouds on the other side of the | :19:54. | :19:59. | |
valley. -- where it happened. The weather here can change in seconds | :19:59. | :20:03. | |
and all experienced climbers know how treacherous the conditions can | :20:03. | :20:08. | |
be. It is a calculated risk. But nobody can predict exactly when an | :20:08. | :20:12. | |
avalanche might strike. The professionals put a lot of | :20:12. | :20:15. | |
preparation into every climb. fact that so many people were | :20:15. | :20:19. | |
climbing the mountain, including qualified guides, makes you believe | :20:19. | :20:24. | |
that this was just a tragic accident. A memorial service will | :20:24. | :20:27. | |
be held tomorrow in the local church. But climbers are already | :20:27. | :20:34. | |
heading back to the high mountains again. | :20:34. | :20:38. | |
Four men aged between 18 and 41 will appear in court tomorrow | :20:38. | :20:40. | |
charged with public order offences following last night's disturbances | :20:40. | :20:45. | |
in Belfast. It comes as CCTV footage was released during people | :20:45. | :20:49. | |
setting fire to a car and rolling it towards the police. 20 police | :20:49. | :20:54. | |
officers were injured. Violence broke out in the Ardoyne area of | :20:54. | :20:56. | |
the city following an Orange Order parade. | :20:56. | :21:00. | |
For years, China has been a global economic powerhouse, but official | :21:01. | :21:07. | |
figures reveal that the Chinese economy is experiencing its worst | :21:07. | :21:12. | |
slowdown in three years. Weak domestic demand and problems in | :21:12. | :21:16. | |
Europe are being blamed. Damian Grammaticas has been to the city of | :21:16. | :21:21. | |
Tianjin, last year the fastest- growing city in the country. | :21:21. | :21:27. | |
Reaching skywards. This is China, celebrating yet another skyscraper. | :21:27. | :21:32. | |
Acres of them are being built on a coastal mud flat at Tianjin. They | :21:32. | :21:39. | |
stand Brian Pugh and empty. -- brand new. The plan is to create a | :21:39. | :21:43. | |
new Manhattan from scratch but work is slow. Last year we could find | :21:43. | :21:49. | |
work easily, but now we have been told there is nothing for us. | :21:49. | :21:53. | |
China's construction frenzy kept it booming through the downturn. It | :21:53. | :21:58. | |
has built up problems, too. To do this, Tianjin and dozens of cities | :21:58. | :22:02. | |
like it have borrowed money, billions upon billions. They are | :22:02. | :22:08. | |
now deep in debt. If China's economy is slowing, then that | :22:08. | :22:12. | |
raises huge questions. Will Tianjin ever be able to fill the buildings | :22:12. | :22:18. | |
and make a profit? Will China's debts drag it down? Tianjin's | :22:18. | :22:23. | |
economy has exemplified the miracle, expanding 16% last year. Faster | :22:23. | :22:29. | |
than any other part of China. Now exports to Europe are falling and | :22:29. | :22:35. | |
China's domestic demand led by its property market is weakening, too. | :22:35. | :22:39. | |
Inside China already the optimism has disappeared quite quickly. If | :22:39. | :22:43. | |
you look at the capital flow numbers, it is clear that wealthy | :22:43. | :22:49. | |
Chinese have been taking money out of China at a very rapid pace. | :22:49. | :22:54. | |
Things may be even worse than the official figures suggest. Kohl is | :22:54. | :22:58. | |
piling up in ports, power stations do not need it suggesting factories | :22:58. | :23:04. | |
are not getting orders at home or abroad. Creating a nation of | :23:04. | :23:14. | |
:23:14. | :23:15. | ||
consumers to drive the economy. If this is one of the new middle | :23:15. | :23:20. | |
classes, but sales are down. He imports and sells furniture. The | :23:20. | :23:24. | |
economic slowdown has hit his business and his wife's interior | :23:24. | :23:30. | |
decoration firm, too. They are reluctant to spend. TRANSLATION: It | :23:30. | :23:35. | |
has had a huge impact. Compared to last year, our sales are down 20%. | :23:35. | :23:39. | |
In other cities it is worse, down 60%. | :23:39. | :23:45. | |
Some businesses are doing all right. Tourism for one. Tianjin's | :23:45. | :23:51. | |
Manhattan is already an attraction. This man said he had never seen a | :23:51. | :23:54. | |
skyscraper before coming here. He says they will definitely be filled | :23:54. | :23:57. | |
because China is overflowing with people and things keep getting | :23:57. | :24:02. | |
better every year. Every year it is also getting harder to maintain the | :24:02. | :24:09. | |
incredible growth rates that have made China an economic superpower. | :24:09. | :24:13. | |
In the last few minutes, the security company G4S has said that | :24:13. | :24:16. | |
it has estimated that it will lose �50 million on its contract for the | :24:16. | :24:23. | |
Olympics. They also accepted responsibility for failing to | :24:23. | :24:28. | |
provide the security staff that it was due to for the London Games. | :24:28. | :24:33. | |
He is a cycling man of the moment. Bradley Wiggins has maintained the | :24:33. | :24:37. | |
Tour de France's yellow jersey for the 5th day in a row. Despite | :24:37. | :24:47. | |
:24:47. | :24:50. | ||
losing today's stage to fellow Briton David Millar, he has | :24:50. | :24:54. | |
retained the jersey. Bradley Wiggins is making the Tour | :24:54. | :24:58. | |
de France look like a piece of Gateau. The race is 20 stages, and | :24:58. | :25:01. | |
the quickest man overall wins, which is Bradley Wiggins at the | :25:01. | :25:06. | |
moment. He is proudly in yellow and staying out of trouble today. | :25:06. | :25:09. | |
Bradley Wiggins has enjoyed remarkable career already in track | :25:09. | :25:15. | |
cycling. The 4000 metres Olympic champion! He first won Olympic gold | :25:15. | :25:20. | |
in Athens in 2004. He has been World Champion multiple times. At | :25:20. | :25:24. | |
the Beijing Olympics to won two gold medals and then stepped up. | :25:24. | :25:29. | |
This year, he prepared like never before, relentless training to be | :25:29. | :25:34. | |
at his best when the Tour de France does its worst. I think he just | :25:34. | :25:39. | |
take day every box. He is going out there to win the Tour. He has | :25:39. | :25:42. | |
trained it first and now he has touched on it and he is ready and | :25:42. | :25:47. | |
it will take a good man to beat him. Designer so Paul Smith posts | :25:47. | :25:52. | |
pictures to celebrate Bradley Wiggins. Paul Weller is on one side. | :25:52. | :25:58. | |
Spot the difference? Fashion is his other passion. Sideburns are | :25:58. | :26:02. | |
protected. His colleagues escort their leader like they are guarding | :26:02. | :26:07. | |
a bar of gold. That is key. Today he reiterated his commitment to | :26:07. | :26:10. | |
winning cleanly and honestly accepting that scrutiny follows | :26:10. | :26:15. | |
success. There is so much British success. David Millar won the stage | :26:15. | :26:18. |