Browse content similar to 11/05/2016. Check below for episodes and series from the same categories and more!
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Tonight at Ten: The Nigerians hit back at Britain after their country | :00:00. | :00:08. | |
was called fantastically corrupt by David Cameron. | :00:09. | :00:21. | |
The Nigerian President, attending an anticorruption summit in London, | :00:22. | :00:24. | |
I am not going to demand any apology from anybody. | :00:25. | :00:29. | |
But Mr Cameron, overheard yesterday calling Nigeria corrupt, | :00:30. | :00:35. | |
said he was taking steps to stop people hiding stolen wealth | :00:36. | :00:38. | |
One of the steps we're taking to make sure that foreign companies | :00:39. | :00:46. | |
that own UK property have to declare who the beneficial owner is, | :00:47. | :00:50. | |
will be one of the ways we make sure that plundered money from African | :00:51. | :00:54. | |
We'll have more reaction, and we'll be talking | :00:55. | :00:57. | |
to the Nigerian President about the allegations made. | :00:58. | :01:04. | |
Also tonight: The official threat level to Britain | :01:05. | :01:07. | |
from Northern Ireland-related terrorism has been raised | :01:08. | :01:08. | |
More than 90 people have died in a series of bomb | :01:09. | :01:16. | |
attacks in Baghdad claimed by so-called Islamic State. | :01:17. | :01:21. | |
Gordon and Boris both take to the campaign trail on opposing | :01:22. | :01:31. | |
sides of the debate on Britain's future in the EU. | :01:32. | :01:34. | |
And, a concert designed for canine ears, we take Jumble | :01:35. | :01:36. | |
Coming up in Sportsday on BBC News, Sunderland | :01:37. | :01:40. | |
ensure their Premier League survival with a win over Everton | :01:41. | :01:42. | |
but relegate Newcastle and Norwich in the process. | :01:43. | :02:04. | |
President Buhari of Nigeria, whose country was described | :02:05. | :02:12. | |
as fantastically corrupt by David Cameron, has hit back today | :02:13. | :02:17. | |
and suggested that Britain is also a haven for corrupt money. | :02:18. | :02:20. | |
He urged the UK to return billions of pounds of assets stolen | :02:21. | :02:24. | |
by Nigerian officials who fled to Britain. | :02:25. | :02:26. | |
During the day, Mr Cameron was asked what he was doing to stop the London | :02:27. | :02:30. | |
property market being used to hide stolen wealth? | :02:31. | :02:33. | |
President Buhari has been speaking to my colleague Clive Myrie. | :02:34. | :02:38. | |
Mr President, has David Cameron insulted Nigeria? | :02:39. | :02:41. | |
President Buhari arrived in London with the kind of billing unheard | :02:42. | :02:44. | |
of for a foreign guest on an official visit. | :02:45. | :02:48. | |
His country's accused of being fantastically corrupt | :02:49. | :02:51. | |
The President didn't mind the candour, he just wants help | :02:52. | :02:58. | |
and the return of Nigerian money stolen by corrupt officials | :02:59. | :03:00. | |
I am not going to demand any apology from anybody. | :03:01. | :03:07. | |
What I am demanding is the return of assets. | :03:08. | :03:11. | |
Some of those stolen assets end up in London | :03:12. | :03:15. | |
and while the Prime Minister's assessment was brutal... | :03:16. | :03:23. | |
...the President understood the comments. | :03:24. | :03:26. | |
Why should I ask him to apologise for telling the truth? | :03:27. | :03:34. | |
I can't pretend that Nigeria is not corrupt, that there was no | :03:35. | :03:37. | |
London and Nigeria have been linked by corruption for years. | :03:38. | :03:46. | |
This man, James Ibori, the governor of an oil | :03:47. | :03:48. | |
rich Nigerian state, was jailed for 13 years | :03:49. | :03:53. | |
at Southwark Crown Court in 2012 for money-laundering and corruption. | :03:54. | :03:56. | |
He had hidden a fortune in London, buying property and flash cars. | :03:57. | :03:59. | |
The fraud on his own people was worth ?50 million and it's | :04:00. | :04:01. | |
estimated others in Nigeria's greedy ruling elite have laundered billions | :04:02. | :04:04. | |
In the Commons, Mr Cameron made light of yesterday's gaffe. | :04:05. | :04:10. | |
Well, first of all, I better check the microphone | :04:11. | :04:12. | |
is on before speaking, it's probably a good idea. | :04:13. | :04:17. | |
But he was pressed to more vigorously help President Buhari. | :04:18. | :04:20. | |
Has the Prime Minister read the appeals from Nigerian | :04:21. | :04:23. | |
campaigners who say, our efforts are sadly undermined | :04:24. | :04:26. | |
if countries such as your own are welcoming our corrupt | :04:27. | :04:29. | |
to hide their ill-gotten gains in your luxury homes, | :04:30. | :04:34. | |
department stores, car dealerships, private schools, and anywhere else | :04:35. | :04:37. | |
that will accept their cash with no questions asked? | :04:38. | :04:43. | |
One of the steps we're taking to make sure that foreign companies | :04:44. | :04:46. | |
that own UK property have to declare who the beneficial owner is will be | :04:47. | :04:51. | |
one of the ways we make sure that plundered money from African | :04:52. | :04:55. | |
It's Nigerian's ordinary citizens who are losing out. | :04:56. | :05:01. | |
This is an oil rich nation, yet a third of the population | :05:02. | :05:05. | |
The corruption taints all walks of life. | :05:06. | :05:10. | |
When I visited last year our driver was asked for a bribe | :05:11. | :05:13. | |
The police threatened a hefty parking fine if he didn't pay. | :05:14. | :05:23. | |
From the lower levels, everyday to top level managers, | :05:24. | :05:29. | |
The young and old are dying of corruption daily. | :05:30. | :05:36. | |
You can't estimate how much we need to stop corruption in Nigeria. | :05:37. | :05:41. | |
President Buhari and his people are asking for the world's | :05:42. | :05:45. | |
What David Cameron decides to do in London could change many lives, | :05:46. | :05:52. | |
Our diplomatic correspondent James Landale is in Downing | :05:53. | :05:59. | |
The threat level from Northern Ireland-related terrorism | :06:00. | :07:24. | |
on the British mainland has been raised from moderate | :07:25. | :07:26. | |
It means the security services believe an attack is | :07:27. | :07:29. | |
Police say there's a real and serious threat from dissident | :07:30. | :07:33. | |
republicans, as our Ireland correspondent Chris Buckler reports. | :07:34. | :07:36. | |
The threat of violence has never left the streets | :07:37. | :07:38. | |
It was only two months ago that the prison officer Adrian Ismay | :07:39. | :07:45. | |
died after a bomb exploded into his van in Belfast. | :07:46. | :07:50. | |
And in recent months there have been other attacks linked | :07:51. | :07:55. | |
to dissident republican paramilitaries. | :07:56. | :08:00. | |
There are now concerns that they will attempt | :08:01. | :08:02. | |
to take their campaign of violence to other parts of the UK. | :08:03. | :08:05. | |
We've seen the murderous capability of dissident republicans | :08:06. | :08:07. | |
in Northern Ireland but, if anything, I suspect this change | :08:08. | :08:09. | |
of threat level indicates a rise in their capacity and capability | :08:10. | :08:12. | |
in mainland GB, and that is something that causes concern. | :08:13. | :08:18. | |
The threat level for international terrorism in the UK | :08:19. | :08:21. | |
is currently at severe, meaning an attack is highly likely. | :08:22. | :08:27. | |
Terrorism linked to Irish dissidents is classified separately. | :08:28. | :08:32. | |
The threat of an attack by Republicans in Northern Ireland | :08:33. | :08:35. | |
is also severe, but in mainland Britain, until today, | :08:36. | :08:38. | |
it was judged by MI5 to be moderate, that an attack | :08:39. | :08:41. | |
Now it has been raised to substantial, which means | :08:42. | :08:45. | |
It's 15 years since the last serious campaign of violence | :08:46. | :08:52. | |
Among the attacks was this bombing at the BBC's | :08:53. | :08:56. | |
And this former Deputy Chief Constable says there are indications | :08:57. | :09:03. | |
that dissidents again have access to explosives. | :09:04. | :09:06. | |
They have deployed a number of undercar booby-traps. | :09:07. | :09:09. | |
It looks as though those were made with Semtex, | :09:10. | :09:13. | |
possibly from old IRA stocks that were decommissioned. | :09:14. | :09:16. | |
They have shown more sophistication in types and frequency of attacks | :09:17. | :09:20. | |
Senior officers had warned that dissidents were planning attacks | :09:21. | :09:26. | |
to coincide with the centenary of the Easter Rising, | :09:27. | :09:29. | |
an historic rebellion against British rule in Ireland. | :09:30. | :09:32. | |
And they are worried in particular about one group | :09:33. | :09:34. | |
The threat from Isis and Al-Qaeda is much | :09:35. | :09:41. | |
higher on the mainland, but, of course, all this does | :09:42. | :09:44. | |
is take away some resources to focus on the threat from the IRA. | :09:45. | :09:50. | |
The truth is the threat from republican paramilitaries never | :09:51. | :09:53. | |
went away, but the raising of the threat level is a reminder | :09:54. | :09:58. | |
to police forces in Britain in particular that there | :09:59. | :10:02. | |
are still people intent on wrecking years of political progress | :10:03. | :10:05. | |
More than 90 people are reported to have been killed in a series | :10:06. | :10:14. | |
The deadliest was in a market in a mainly Shia area | :10:15. | :10:19. | |
The so-called Islamic State group said it was behind that bombing | :10:20. | :10:23. | |
in Sadr City and two further suicide attacks in other parts | :10:24. | :10:25. | |
Our diplomatic correspondent, Paul Adams, reports. | :10:26. | :10:32. | |
Carnage in Sadr City, scenes reminiscent of the darkest | :10:33. | :10:35. | |
This vast, mainly Shi'ite district, the scene of so many atrocities, | :10:36. | :10:42. | |
witnessing the worst attack on the capital in months. | :10:43. | :10:47. | |
A pick-up truck, explosives hidden under fruit and vegetables, | :10:48. | :10:52. | |
detonating in the midst of a busy market. | :10:53. | :10:54. | |
So-called Islamic State said it carried out all today's attacks | :10:55. | :10:57. | |
and that this one was aimed at Shi'ite militiamen | :10:58. | :11:01. | |
but many of the victims were women and children. | :11:02. | :11:05. | |
TRANSLATION: Young people want to live here but security | :11:06. | :11:08. | |
They say they have metal detectors to detect explosives | :11:09. | :11:11. | |
How can car bombs like this go through checkpoints? | :11:12. | :11:15. | |
TRANSLATION: Many people were killed and you can see blood everywhere. | :11:16. | :11:17. | |
They were poor people who were here to earn their living. | :11:18. | :11:20. | |
Can this corrupt Government tell us why? | :11:21. | :11:26. | |
Since the fall of Saddam Hussein, successive Iraqi governments | :11:27. | :11:28. | |
have failed to tackle the problem of corruption. | :11:29. | :11:34. | |
Prime Minister Nouri al-Maliki promised to do something about it | :11:35. | :11:36. | |
but attacked and imprisoned those who complained. | :11:37. | :11:41. | |
The army was so corrupt and sectarian that when so-called | :11:42. | :11:44. | |
Islamic State seized huge swathes of the country | :11:45. | :11:46. | |
Under a new Prime Minister, Haider al-Abadi, Government | :11:47. | :11:52. | |
forces have slowly been clawing territory back. | :11:53. | :11:56. | |
But corruption has persisted and popular anger about it has mounted. | :11:57. | :12:00. | |
At the end of April, crowds loyal to the country's most | :12:01. | :12:03. | |
influential Shi'ite cleric stormed the heavily fortified Green Zone | :12:04. | :12:06. | |
As they condemned the latest violence by Islamic State, | :12:07. | :12:13. | |
American officials seemed to be urging the country's | :12:14. | :12:15. | |
The recent spate of attacks by Daesh is a latest reminder of the danger | :12:16. | :12:23. | |
this group poses to all Iraqis and the importance of Iraqi leaders | :12:24. | :12:26. | |
from all communities working together to quickly resolve | :12:27. | :12:30. | |
differences so the progress made against Daesh continues. | :12:31. | :12:34. | |
The Government today said it had retaken two-thirds of | :12:35. | :12:36. | |
the territory it lost to Islamic State two years ago. | :12:37. | :12:39. | |
But even if it is on the back foot, IS is still capable | :12:40. | :12:42. | |
of striking fear far beyond the territory it controls. | :12:43. | :12:47. | |
There are just six weeks to go to the referendum on Britain's | :12:48. | :12:55. | |
And today both sides stepped up their campaigns. | :12:56. | :13:00. | |
Boris Johnson launched the Vote Leave bus in Cornwall, | :13:01. | :13:03. | |
while Gordon Brown, the former Prime Minister, | :13:04. | :13:06. | |
added his voice to the calls to remain in the EU. | :13:07. | :13:09. | |
In a moment our political editor, Laura Kuenssberg, reports | :13:10. | :13:11. | |
on the Gordon Brown intervention, but first our deputy political | :13:12. | :13:14. | |
editor, John Pienaar, reports on his day with Boris Johnson. | :13:15. | :13:20. | |
A crowd that loves you, or think they do, and a big message | :13:21. | :13:26. | |
from the Leave campaign's most famous face - vote to quit the EU. | :13:27. | :13:29. | |
Thank you very much for coming along, everybody. | :13:30. | :13:31. | |
It doesn't look too stage-managed, but it is. | :13:32. | :13:36. | |
Try to raise a pro-EU, anti-Tory poster, and see what happens. | :13:37. | :13:40. | |
You will be coming out on June the 23rd? | :13:41. | :13:46. | |
This stuff's the staple diet of the big campaign, | :13:47. | :13:50. | |
Not always, not everywhere, but Boris Johnson is box office. | :13:51. | :14:00. | |
What people want most, though, are facts, objective truth - | :14:01. | :14:03. | |
Back on the campaign bus - German-made, by the way - | :14:04. | :14:13. | |
and Labour's Gisela Stuart onside, he flatly denied the Leave | :14:14. | :14:16. | |
vote would hit the pound and share prices. | :14:17. | :14:18. | |
A lot of people will be interested in this, | :14:19. | :14:20. | |
and they would like an answer - a straight one, if possible... | :14:21. | :14:23. | |
Are you saying there would be no reaction on the markets? | :14:24. | :14:26. | |
I think it might be a very positive reaction. | :14:27. | :14:28. | |
Do you really believe the pound would not fall, as it has | :14:29. | :14:31. | |
May I remind you that everybody said the pound would fall as a result | :14:32. | :14:36. | |
of us leaving the ERM, on the contrary, the pound | :14:37. | :14:39. | |
strengthened and interest rates were cut. | :14:40. | :14:40. | |
And with all the talk of corruption in the air? | :14:41. | :14:43. | |
I would say that the EU budget is endemically corrupt. | :14:44. | :14:46. | |
I think it is something that is in the nature of the beast | :14:47. | :14:49. | |
Just because it's collective funding, nobody has any | :14:50. | :14:54. | |
sense of particular, individual, national | :14:55. | :14:56. | |
responsibility for it, so a lot of it gets wasted. | :14:57. | :15:00. | |
He looks like he's winning support, but it doesn't mean he always is. | :15:01. | :15:09. | |
You know Boris Johnson, he's a bit of a character? | :15:10. | :15:11. | |
But he's not going to help you make your mind | :15:12. | :15:15. | |
Like you said, he's a very charismatic individual, | :15:16. | :15:19. | |
I think we all can say that, can't we? | :15:20. | :15:21. | |
But, when it comes down to it, a place like Cornwall needs to think | :15:22. | :15:24. | |
properly and needs to think about how important | :15:25. | :15:26. | |
I'm a big Boris fan, but for his personality. | :15:27. | :15:30. | |
I'm not sure about his politics and about leaving Europe. | :15:31. | :15:32. | |
Tell me this, is Boris going to help you make up your mind | :15:33. | :15:41. | |
He will help make my mind more determined to vote Out. | :15:42. | :15:46. | |
Not very original, politicians pulling pints, but the | :15:47. | :15:50. | |
They rather like Boris Johnson, too, but this referendum is real. | :15:51. | :15:54. | |
So how should we look at the man who is the Leave campaign's biggest | :15:55. | :15:57. | |
asset and who just may also be Britain's | :15:58. | :16:00. | |
It is six years since Gordon Brown was in charge. | :16:01. | :16:15. | |
In power, his biggest call was to keep us out of | :16:16. | :16:18. | |
the European Union's biggest project, joining the euro. | :16:19. | :16:21. | |
But if Labour's campaign for In has been short on gusto, | :16:22. | :16:24. | |
We should be a leader in Europe, not simply a member. | :16:25. | :16:30. | |
We should not be fully out and we should not be half out. | :16:31. | :16:33. | |
There have been nerves about getting Labour voters involved. | :16:34. | :16:39. | |
Reluctant support for the European Union might not get | :16:40. | :16:41. | |
But beyond the economics, the former Prime Minister is using different | :16:42. | :16:46. | |
We British have historically been outward looking, not inward looking. | :16:47. | :16:51. | |
We've not seen the Channel as some sort of moat. | :16:52. | :16:54. | |
What sense does it make if we think of ourselves in this way, | :16:55. | :16:59. | |
that we break off relations with our nearest neighbours? | :17:00. | :17:01. | |
Mr Brown's fiery last-minute political sermons did galvanise | :17:02. | :17:03. | |
When the independence referendum looked close and tight, | :17:04. | :17:15. | |
But will voters around the UK listen to him now? | :17:16. | :17:24. | |
I opposed joining the euro and I stood out against some | :17:25. | :17:28. | |
of my colleagues on that because I thought that | :17:29. | :17:31. | |
I'm not going to support Europe right or wrong. | :17:32. | :17:36. | |
I'm going to support European cooperation where it is in Britain's | :17:37. | :17:38. | |
national interest and I will oppose it if I think it is not | :17:39. | :17:41. | |
When you look at the campaign right now that is trying | :17:42. | :17:46. | |
to persuade people to stay, do you see the leadership that | :17:47. | :17:48. | |
I think we've had a phoney war and we are now into | :17:49. | :17:54. | |
You've got six weeks to go and I think the positive message I'm | :17:55. | :17:58. | |
putting forward has got a way of getting across particularly | :17:59. | :18:00. | |
to people that did not vote Conservative. | :18:01. | :18:02. | |
The implication of you coming forward to make this case is that | :18:03. | :18:05. | |
you are not convinced that Labour has been showing the leadership that | :18:06. | :18:08. | |
Are you satisfied with how engaged Jeremy Corbyn has been? | :18:09. | :18:11. | |
I can make a contribution, but when people realise | :18:12. | :18:13. | |
that the Labour Party is fully behind staying | :18:14. | :18:16. | |
in the European Union, I think the Labour voters who have | :18:17. | :18:19. | |
historically in the last 20 or 30 years supported Europe, | :18:20. | :18:23. | |
will come out to vote in favour of Europe. | :18:24. | :18:26. | |
He may be long gone from the biggest job, but in the next | :18:27. | :18:29. | |
few weeks he will be on our screens and in this debate. | :18:30. | :18:32. | |
Gordon Brown always did want to make completely sure | :18:33. | :18:34. | |
Laura Kuenssberg, BBC News, Westminster. | :18:35. | :18:44. | |
The government White Paper on the future of the BBC will be | :18:45. | :18:47. | |
published tomorrow and it's expected to shape the BBC's governance, | :18:48. | :18:49. | |
finances, and range of activities, for the coming decade. | :18:50. | :18:52. | |
Some of the details are emerging ahead of publication. | :18:53. | :18:54. | |
Our media correspondent, David Sillito, is here. | :18:55. | :19:01. | |
What are you learning? Months of negotiation and at last some light. | :19:02. | :19:10. | |
The BBC trust that oversees the BBC almost certain is going to go. If | :19:11. | :19:15. | |
you want to complain about impartiality or accuracy in future | :19:16. | :19:19. | |
you will go to the government regulator, Ofcom. The day-to-day | :19:20. | :19:23. | |
running, they will be a new board but how much those directors will be | :19:24. | :19:27. | |
appointed by the government? Still some debate on that but what is | :19:28. | :19:31. | |
interesting other things not appear in the White Paper. No sign of top | :19:32. | :19:37. | |
slicing, giving money away to rival broadcasters. No mention of meddling | :19:38. | :19:41. | |
in the schedules, telling the BBC when it can or can't put on Strictly | :19:42. | :19:47. | |
Come Dancing. But a change overpaid. If you are a manager, all your pay | :19:48. | :19:52. | |
details are public but not if you are a start but in the future, | :19:53. | :20:00. | |
anybody paid more than -- more than 400 5000 -- 400 ?50,000. | :20:01. | :20:05. | |
Members of the National Assembly for Wales elected last week have | :20:06. | :20:10. | |
failed to agree on who should be First Minister for | :20:11. | :20:13. | |
Ever since the Assembly was created, the post has been held | :20:14. | :20:17. | |
The proposed election today of Carwyn Jones, the First Minister | :20:18. | :20:21. | |
since 2009, was blocked by a combination of Plaid Cymru, | :20:22. | :20:23. | |
Plaid Cymru nominated its leader, Leanne Wood, for First Minister. | :20:24. | :20:30. | |
The result was a tie and the deadlock looks set | :20:31. | :20:32. | |
In Brazil, senators are debating whether the president, | :20:33. | :20:42. | |
Dilma Rousseff, should face a full impeachment trial. | :20:43. | :20:46. | |
If a simple majority votes in favour, as is expected, | :20:47. | :20:50. | |
she will be automatically suspended for six months. | :20:51. | :20:52. | |
The president is accused of illegally manipulating finances | :20:53. | :20:54. | |
Moves to force the president from office have divided Brazil. | :20:55. | :21:05. | |
We can join our correspondent Wyre Davies in the capital, Brasilia. | :21:06. | :21:15. | |
Brazil is deeply divided, the government's opponents say this is a | :21:16. | :21:21. | |
day of hope but these borders say it is the day democracy died. At the | :21:22. | :21:26. | |
centre of it all, the country's first female president, about be | :21:27. | :21:29. | |
ceremoniously suspended in what she says is a coup d'etat. | :21:30. | :21:32. | |
The final hours before Brazil's Senate began | :21:33. | :21:34. | |
a debate on the future of the country's | :21:35. | :21:35. | |
Dilma Rousseff's opponents in the streets of the capital, | :21:36. | :21:41. | |
ecstatic in the knowledge that she could soon be | :21:42. | :21:43. | |
Last week, President Rousseff had welcomed the Olympic flame to Brazil | :21:44. | :21:52. | |
but is destined to play no official role in the Games themselves. | :21:53. | :21:56. | |
Instead, the prospect of an impeachment trial over charges | :21:57. | :21:58. | |
that she illegally concealed the size of the deficit. | :21:59. | :22:00. | |
Facing humiliation but still defiant, in a rare sit-down | :22:01. | :22:05. | |
interview, Dilma Rousseff told me the accusations | :22:06. | :22:08. | |
against her were baseless and that she was the victim | :22:09. | :22:11. | |
of a judicial coup by her political enemies. | :22:12. | :22:18. | |
TRANSLATION: We will keep fighting to come back | :22:19. | :22:20. | |
to government if the impeachment request is accepted. | :22:21. | :22:23. | |
What we will do is to resist, resist and resist. | :22:24. | :22:26. | |
And fight to ensure that we will come out victorious. | :22:27. | :22:34. | |
But with the economy in recession and the government in the grip | :22:35. | :22:37. | |
of a huge corruption scandal, there is nationwide discontent. | :22:38. | :22:42. | |
Dilma Rousseff's popularity has fallen to an all-time low. | :22:43. | :22:45. | |
Reason enough for these senators today to be supporting calls | :22:46. | :22:49. | |
for the President's impeachment and her immediate | :22:50. | :22:51. | |
All things will be good for us because we have | :22:52. | :22:59. | |
This is the question, and we need to solve this | :23:00. | :23:03. | |
This long, drawn-out, divisive process is being played out | :23:04. | :23:11. | |
in the full glare of the media and the consensus is that it has | :23:12. | :23:15. | |
badly damaged the standing and reputation of Brazil's | :23:16. | :23:17. | |
In Rome, the Pope even offered prayers for his fellow South | :23:18. | :23:24. | |
But in Brazil, few have any faith that the country's myriad problems | :23:25. | :23:29. | |
will be quickly solved by Dilma Rousseff's | :23:30. | :23:31. | |
Wyre Davies, BBC News, Brasilia. | :23:32. | :23:39. | |
Saudi Arabia's state oil company has opened its door to Western | :23:40. | :23:41. | |
journalists ahead of a massive share flotation which would confirm | :23:42. | :23:44. | |
its place as the world's most valuable company. | :23:45. | :23:49. | |
Saudi Aramco is worth an estimated 2 trillion dollars - | :23:50. | :23:52. | |
four times bigger than its nearest corporate rival, Apple. | :23:53. | :23:55. | |
It produces over 10 million barrels of oil a day - | :23:56. | :23:58. | |
Saudi Arabia is dependent on it for 90% of its revenue, | :23:59. | :24:02. | |
but the kingdom's rulers plan to use the money from the flotation | :24:03. | :24:05. | |
Our business editor, Simon Jack, reports | :24:06. | :24:10. | |
The temperature is still about 43 Celsius or about 109 Fahrenheit. | :24:11. | :24:20. | |
One in every eight barrels of crude oil comes from underneath | :24:21. | :24:24. | |
This single plant produces more than the entire North Sea. | :24:25. | :24:30. | |
It's rare to be invited here but the state-owned oil | :24:31. | :24:33. | |
company and its chief executive, Amin Nasser, | :24:34. | :24:36. | |
It's offering up a slice of the world's most valuable company | :24:37. | :24:44. | |
to try to encourage future foreign investment in other industries. | :24:45. | :24:49. | |
This is Shaybah, a south-eastern outpost of Aramco's sprawling | :24:50. | :24:52. | |
empire, which they now want to sell a slice | :24:53. | :24:55. | |
Do they want to sell the family silver, change the oil regime | :24:56. | :25:02. | |
and strategy and diversify the Saudi economy after all these years? | :25:03. | :25:08. | |
I think it is timely and overdue to identify new resources, | :25:09. | :25:11. | |
rely more on investment for additional streams | :25:12. | :25:13. | |
Is that because of the arrival of US shale? | :25:14. | :25:23. | |
Is it because we are looking at a future with fewer hydrocarbons? | :25:24. | :25:25. | |
Are you worried that you have so much of the stuff in the ground | :25:26. | :25:31. | |
that one day you won't be able to sell it? | :25:32. | :25:33. | |
Yes, there are more energy resources coming, electric car, renewables, | :25:34. | :25:38. | |
but they are starting from a small base, there is still | :25:39. | :25:40. | |
However, oil will continue to play a major part for the long term. | :25:41. | :25:50. | |
Near Aramco's headquarters in Dhahran, people agreed that | :25:51. | :25:53. | |
They graduated and have degrees but they stay at home. | :25:54. | :26:03. | |
And there are older men like us who are retired, | :26:04. | :26:06. | |
God willing, I want a job and a shop and to get | :26:07. | :26:12. | |
And later, after I retire, I want my kids to be comfortable | :26:13. | :26:16. | |
Make no mistake, diversifying does not mean producing less oil. | :26:17. | :26:22. | |
In fact, Aramco said it would probably produce more this | :26:23. | :26:26. | |
year than last, but why, when it pushes global prices down? | :26:27. | :26:30. | |
It doesn't, as it were, matter whether they produce | :26:31. | :26:33. | |
them at low prices today because they are not saving | :26:34. | :26:35. | |
them up, as it were, for high prices tomorrow. | :26:36. | :26:39. | |
They continue to produce regardless of the price because, | :26:40. | :26:42. | |
in effect, you could regard their reserves as infinite. | :26:43. | :26:48. | |
So, no relief in sight for competitors like the North Sea. | :26:49. | :26:50. | |
The oil beneath the desert will keep on coming. | :26:51. | :26:53. | |
Football, and it's been a crucial evening for teams struggling | :26:54. | :27:03. | |
Sunderland have saved themselves, and ensured the relegation of local | :27:04. | :27:11. | |
rivals Newcastle and also Norwich, with a 3-0 win | :27:12. | :27:13. | |
Our correspondent Andy Swiss has been watching the action. | :27:14. | :27:19. | |
Even for Sunderland's most dogged supporters, | :27:20. | :27:21. | |
there has not been much to smile about this season, but they swarmed | :27:22. | :27:24. | |
the Stadium of Light with a double incentive. | :27:25. | :27:29. | |
Victory over Everton would not just secure their safety, it | :27:30. | :27:32. | |
would relegate their local rivals, Newcastle. | :27:33. | :27:36. | |
And if those neighbours were watching on nervously, | :27:37. | :27:38. | |
First, Patrick van Aanholt eased the tension with | :27:39. | :27:44. | |
And very soon it was the Stadium of Delight. | :27:45. | :27:51. | |
Lamine Kone lashing home a second before the break and sending | :27:52. | :27:53. | |
And, come the second half, their joy and Newcastle's | :27:54. | :28:02. | |
Once Kone had made it 3-0, the party was in full swing | :28:03. | :28:10. | |
and the final whistle brought relief and release. | :28:11. | :28:15. | |
While their fiercest rivals plummet through the Premier League trapdoor, | :28:16. | :28:17. | |
Sunderland have, once again, pulled off the great escape. | :28:18. | :28:27. | |
A night of high emotions here in the north-east, delight for Sunderland | :28:28. | :28:34. | |
but what about Newcastle? They have spent more than ?80 million on new | :28:35. | :28:39. | |
players in the last year and yet they are down. So our Norwich City | :28:40. | :28:44. | |
despite winning tonight. Grim night for those teams but here in | :28:45. | :28:48. | |
Sunderland you sense that the celebrations are only just | :28:49. | :28:49. | |
beginning. Thank you, Andy. The Brighton Festival, England's | :28:50. | :28:54. | |
largest international arts festival, To mark the event, the musician | :28:55. | :28:56. | |
and performance artist Laurie Anderson has been appointed | :28:57. | :28:59. | |
guest creative director. The fesitval programme features | :29:00. | :29:02. | |
everything from LED street sculptures and Shakespeare | :29:03. | :29:07. | |
to Anderson's own events which include the British premiere | :29:08. | :29:10. | |
of her Music for Dogs. The concert was specially designed | :29:11. | :29:13. | |
for canine ears so our arts editor, Will Gompertz, took his dog Jumble | :29:14. | :29:17. | |
along to check it out. These dogs thought they were going | :29:18. | :29:24. | |
for a walk in the park, but were taken to the amphitheatre | :29:25. | :29:29. | |
instead, for a concert for canines. I took Jumble, my four-legged | :29:30. | :29:35. | |
friend, to see what he made The veteran American artist | :29:36. | :29:38. | |
and musician whose project this is. There were some bits, | :29:39. | :29:50. | |
the thundery bits, that And the dogs at the end, | :29:51. | :29:57. | |
when you make them all bark and cry, | :29:58. | :30:08. | |
what's that all about? Well, I think they'd been ready | :30:09. | :30:09. | |
polite the whole time, it's normal to express yourself | :30:10. | :30:14. | |
at the end of a show. If you don't know your work, Laurie, | :30:15. | :30:19. | |
and you don't know you, And since, as an artist, | :30:20. | :30:22. | |
I aspire to empathy more Laurie Anderson came to public | :30:23. | :30:37. | |
prominance in the early 80s when, to her complete surprise, | :30:38. | :30:51. | |
an experimental sonic piece she had made as an art project suddenly | :30:52. | :30:53. | |
became a global pop sensation. I didn't even know what the charts | :30:54. | :30:55. | |
were. I don't mean to be bragging, | :30:56. | :31:02. | |
but I didn't really So someone said, "You're | :31:03. | :31:04. | |
on the charts..." We thought pop culture was idiotic, | :31:05. | :31:08. | |
made for ten-year-olds. Among the many projects she's | :31:09. | :31:16. | |
commissioned for the Brighton Festival is an installation inspired | :31:17. | :31:19. | |
by her late husband, It features his old guitars | :31:20. | :31:21. | |
and amps, which have been arranged to produce a continuous | :31:22. | :31:26. | |
overlapping feedback loop. All of these sounds of harmonic, | :31:27. | :31:34. | |
complex overtones, would fill So instead of going, "Thank you, | :31:35. | :31:37. | |
hello, thanks for coming," you know? He would already be | :31:38. | :31:46. | |
in this noise world. It is very three-dimensional | :31:47. | :31:48. | |
and very complex. It does sound interesting, | :31:49. | :31:51. | |
but I'm not sure it's Today we are looking ahead to | :31:52. | :32:12. | |
tomorrow, a White Paper on the BBC and an argued over whether the | :32:13. | :32:15. | |
government is giving itself too much power to pick the people who run it. | :32:16. | :32:23. | |
For or against the BBC, join me now on BBC Two: 11pm in | :32:24. | :32:24. |