30/06/2012 BBC Weekend News

Good evening. The Government has ordered an

independent review into the setting of interbank lending rates. To try

to prevent a repeat of the scandal in which stav at Barclays fixed

rates in their favour. The review is to be completed by the end of

the summer. However, Ed Miliband has repeated his call for a full

public inquiry, saying that the Government response would be a

sticking plaster solution. What should be done about the

conduct of some bankers who lied and cheated for personal gain? The

politicians have different views of the right response. Barclays was

fined �290 million after some of its staff rigged the rates at which

banks lend to one another, the LIBOR which affects the mortgage

rates of thousands of customers. Those responsible have not faced a

penalty so far. Today, the Prime Minister said that they would

review what has gone wrong. It is very important that the

Government takes a look at awful the actions that have been

occurring to now. Making sure that the criminal law can go where it

needs to uncover wrongdoing. So, the Government is to hold an

independent review to be set up next week. It will propose new

regulations on the way that the interbank lending rate works. These

could be included in the Financial Services Bill going through

Parliament and to make criminal prosecutions easier in the future,

but Labour want a wider inquiry, led by a judge to look at the

behaviour and the ethics of the banks. It should be along the lines

of the Leveson-style, they say. They say that they will not

tolerate the establishment closing ranks.

I have a message tor David Cameron, the British people will not

tolerate anything lesz than a full, oip open and independent inquiry.

Next week, Barclays' chief executive, Bob Diamond, is to be

questioned by the Commons Treasury select committee. He said that

inappropriate conduct at the bank is limited to a small number of

people. That is unlikely to unpress the MPs.

This latest scandal has damaged the reputation of Britain's financial

services industry. The politicians know that they have to agree the

right response if they are to restore public trust.

Egypt's new President, Mohammed Morsi has been formerly sworn in.

Backed by the Muslim Brotherhood, he has promised a new rule in his

country's history. Mohammed Morsi vowed to reclaim powers recently

stripped from the country's military.

The man in the presidential limousine, surrounded by police

motorcycle outriders is Mohammed Morsi of the once banned Muslim

Brotherhood. Egyptians still can't quite believe

it, or the fact he did not demand that the streets should be cleared

of traffic for him as they used to be for Hosni Mubarak.

Then after the swearing in, on to the Cairo University.

TRANSLATION: Egypt has now an elect the President.

In -- an elected President. In his inaugural speech, Mohammed

Morsi promised to be servant and master to the people. Among the

crowd outside, hopes were running sky high.

I think that Egypt will be a more democratic country. I hope that all

Egyptians are equal. I hope that the constitution is carried out

soon. I hope that everything in Egypt will be more good.

Everything Mohammed Morsi has done today has been designed to show

that Egypt is entering a new era. It is a new style. He wants to say

he is a man of the people who will work for the Egyptian people to

whom he owes his power and authority.

But who has the real power? Even as the military formerly handed over

control to the new President, the question remains unresolved.

In the last few minutes, world powers are meeting to discuss the

conflict in Syria, they have agreed how a transitional government

should be formed. Speaking at the end of the

conference in Geneva, Kofi Annan said that both the groups in Syria

must lay down their weapons and respect the peace plan. Passengers

are facing delays on rail way lines between Newcastle and Edinburgh.

Caroline Spelman has been in the north ease seeing for herself some

of of the flood damage in that area. This torrent, pouring down a

Gateshead road was filmed on a mobile phone on Thursday. The rain

came down so quickly, the drains were overwhelmed and the area was

suddenly submerged. Today, Andrew McGrath was trying to make the best

of the situation at his flood- damaged house. This was the view

from the upstairs window a couple of days ago, downstairs, the floor

has been ruined. All of the flooring has had to come

What about the cost? Are you insured? We have no ins. It which

will take a while to get back on our feet.

A few doors down from Andrew, the Environment Secretary came to see

the flood damage for herself. The unpredictability of the extreme

weather events we are seeing is part of our job as a Government to

ensure that the flood defences are there.

This area experienced a month's rainfall in two hours. Houses like

this one which are not on riverbanks or in known flood areas

were simply caught out by a few hours' of rain that will now lead

to months of disruption. Train services between Newcastle and

Edinburgh are delayed. Sections of track like this one in

Northumberland are being rebuilt, but the London to Leeds route is

running normally. Members of the army, Navy and the

Royal Air Force have been taking part in events across the country

to marked Armed Forces Day. In plim, thousands -- in Plymouth, thousands

lined the streets. General Sir David Richards paid

tribute to all of those who served. The band of the Royal Marines,

celebrating this year with a distinctive Naval theme.

Thousands of well-wishers came to show their support.

The Prime Minister was there to meet veterans of earlier wars.

While a hero of a more recent conflict, Corporal Johnson Beharry,

carried off the Olympic torch to the National Memorial Arboretum. He

earned the highest commendation for his bravery in Iraq, the Victoria

Cross, for saving the lives of his comrades. Here in Helmand province,

the chief of the defence staff, General Sir David Richards came to

thank the men and the women working in operations in a sweltering

Afghan heat. I wish to say a very, very big

thank you. The people in Britain are using this as an opportunity to

give thanks for what they do, but this also gives us a chance to say

thank you to the supporters those who support us so well.

For the British Forces here this was a normal working day, but out

on the patrol, the handover of the security gathers pace. British

Forces have been serving in Helmand for some seven years now. They

point to places like this, in the market in the centre of Nad Ali,

which they say has not seen a single shot fired since April of

this year. They point to it as proof that all of the hard work and

the sacrifices made here are finally bearing fruit.

Andy Murray is due on Centre Court at Wimbledon this evening. With

British hopes in the tournament once again resting solely on his

shoulders. This could abstern test for Andy

Murray tonight? It could be, but he should be the favourite against

Marcos Baghdatis. You have to hope that Andy Murray is not

superstitious, given the reputation that Centre Court has gained for

the night time gains. Roger Federer was taken to a brutal five sets

last night. Rafael Nadal was knocked out the night before, but

Marcos Baghdatis should not be too much of a challenge for Andy Murray.

They have met once before at Wimbledon. It was in 2006, a great

display by Andy Murray. He lost that game. The reason that they are