05/04/2016 Outside Source


05/04/2016

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The prime minister of Iceland has resigned after allegations

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he concealed millions of dollars worth of investments

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There's been massive protests against him in Rejkjavik.

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We'll also look at how the law firm at the centre of the revelations,

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Mossack Fonseca, apparently worked with clients who were subject

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The Labour Party wants an investigation of all UK nationals

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involved in the allegations. The first US primary

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is taking in the allegations. place right now since Donald Trump's

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controversial comments on abortion. We'll hear from our

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correspondent in Wisconsin. Also, we'll find out

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about Facebook's new product which is aimed at helping the blind

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and visually impaired. The leak of the financial

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arrangements of the world's rich and powerful has

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claimed its first big casualty. The Prime Minister of Iceland has

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resigned after allegations he concealed millions of dollars

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worth of investments in an offshore company were first raised

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in the Panama Papers. It comes after huge protests outside

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parliament last night. The Prime Minister of Iceland

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is the first major casualty of the massive Panama Papers leaks

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which have shone such a powerful spotlight on the secret world

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of offshore finance. Sigmundur Gunnlaugsson was accused

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of concealing millions of dollars' He insists he has

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done nothing wrong. But huge crowds in front

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of the Icelandic parliament yesterday disagreed,

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some estimates say one tenth of the population

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took to the streets. This is where the global scandal

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originated. The Panama-based law

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firm, Mossack Fonseca. 11 million documents held

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here were passed to a German newspaper which shared them

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with over 100 media organisations, They show how the company helped

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clients launder money and evade tax. Mossack Fonseca says it

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has never been charged When the Prime Minister sat down

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for a series of interviews he was challenged about allegations

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that he was involved Now he has walked from high office

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and tonight the journalist who got the interview told the BBC

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he is stunned and said the crisis The population of Iceland

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is around 330,000. So far we have found around 800

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offshore companies linked I think we are setting

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another world record here! Tonight, Iceland's president

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rejected the prime minister's calls for a snap election,

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saying he needs to consult Mr Gunnlaugsson might be going,

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but the government of Iceland is in turmoil as the fallout

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from the Panama Papers spreads. As you saw there, thousands of

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people protested in Iceland. A huge number considering that there are

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only 330,000 people in the country. Having Hewitt is in Reykjavik.

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The mood here yesterday when around 20,000 people gathered around here

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was that the Prime Minister had to go. They simply did not believe him

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and they also felt he had an undeclared interest in his wife's

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offshore company. He said he had not broken any Icelandic laws, but

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certainly the mood here was that there was a failure of transparency

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and also a conflict of interest, and I think to understand the mood here

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you have to go back to 2008 when three banks collapsed and invaded

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the economy. Therefore the idea they have a Prime Minister who is try to

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sort that out, but had a connection with the offshore wells, they were

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not prepared to accept there. As we talk, they are banging the fence and

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banging drums. The big picture here is the difference between 2008 and

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the financial crisis and the mood amongst people not just in Iceland,

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but elsewhere. I think there is this feeling that very powerful people,

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the elite, have money in offshore havens and I think there is far less

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tolerance for that. Certainly the mood here is they want a clean

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government. Meanwhile the law firm in Panama

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at the heart of this leak One of the companies founders told

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the Financial Times, "I don't expect this to lead to one

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single legal case." And, "I guarantee there is more

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dirty money in New York and London The latest revelations show

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that Mossack Fonseca, the Panamanian law firm at the heart

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of the leak, kept clients who were The firm worked with 33 individuals

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or companies who, at some point, The Caribbean hideaway. This is the

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company that helps people. This is the cousin of the Syrian President

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Assad. He has helped to hide the wealth of the family inside and

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outside Syria. His mobile phone company became the focus jeering the

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start of the Syrian war. Mossack Fonseca realise they have six

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companies with him, but they carried on working with him. He was also a

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client of HSBC bank raced here in Canary Wharf. We obtained an

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internal document that showed the discussions that took place once it

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was discovered that he had been sanctioned. In 2011 ahead of

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compliance Mossack Fonseca sense this to her bosses.

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It prompted this reply from Mossad Fonseca's partner.

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Cry-macro as soon as you are aware that a Dillon an account holder is

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subject to the tensions, that cut should be frozen. From there on you

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will be discussing with the authorities whether you keep the

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accounts, close the account or not. Mustaq Fonseca resigned as his

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agents, but he was not one of. Their clients included companies in North

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Korea. There was also a company owned by the former Iranians

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president. Also the son of the former Egyptian president, convicted

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for stealing state funds, was a client for three years after he was

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sanctioned. HSBC said they work closely with the authorities to

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fight financial crime and implement sanctions. Mossack Fonseca said they

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have never knowingly allowed the use of their companies by individuals

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having any involvement with North Korea, Syria or Iran and they have

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the own procedures in place to identify people. But with the 11

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million leaked documents, there are more revelations to come and further

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questions about the secrecy of offshore finance.

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President Obama has commented on the Panama

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He said they show that tax avoidance is a big global problem.

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He leader of the opposition Labour party here in Britain,

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Jeremy Corbyn has also said more needs to be done to clamp down on UK

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overseas territories, after it was shown the British

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Virgin Islands was far and away the most popular tax haven.

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Mr Corbyn says he government should consider imposing "direct rule"

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on British overseas territories and dependencies if they do not

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The Prime Minister is calling for greater bouncing -- greater

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transparency. I own no shares. I have a salary as Prime Minister and

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I have some savings, which I get some interest from and I have a

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house, which we used to live in which we now let out what we are

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living in Downing Street and that is all I have. I have no shares, no

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offshore trusts, no offshore funds, nothing like that. That is a clear

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description. The second thing I am responsible for is our tax system

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and tax policy. No government, no Prime Minister has done more to make

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sure we crack down on tax evasion, on aggressive tax avoidance, on

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aggressive tax planning, both here in the UK and internationally.

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Jeremy Corbyn has also said more needs to be done to clamp down on UK

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overseas territories, after it was shown the British

:10:32.:10:33.

Virgin Islands was far and away the most popular tax haven.

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Mr Corbyn says he government should consider imposing "direct rule"

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on British overseas territories and dependencies if they do not

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Andrew Walker explains more. Encouraging them to be more

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cooperative about exchanging tax information. They ultimately have

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the power to take over, to use direct wall which was done for

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different reasons with other Caribbean territories. In the case

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of the British Virgin Islands, the organisation for British financial

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development, a forum where tax issues are co-ordinated, has

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recently described the British Virgin Islands as now largely

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compliant. Its view is that things have improved and many of these

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allegations we have been seeing our historic ones. What would be a

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legitimate reason for using an offshore accounts, doing the sort of

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thing? Well, the obvious legal thing, which is about personal

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judgment as well, they offer lower corporate tax rates. Bearing in

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mind, that kind of shopping around forward to have your legal

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corporation of a business is widely done in Europe, and in the US. In

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Delaware and Nevada there are zero taxes collected at state level on

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companies. Of course they are attractive places to have your

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headquarters. They are the legal reasons, although people may take

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the view it is unethical. So why isn't everyone doing it? What is to

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stop ordinary people doing it? I can't incorporate myself in the

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British Virgin Islands. I've have a salary -- I have a salary here and

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pay my taxes here. It is not practically available to

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individuals. Coming up on the programme?

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Programme, talking pictures to help the visually impaired.

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The business secretary is travelling to India to try to secure a buyer

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for this still industry. It is important to have these meetings and

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discuss what else we can do to take things forward. This meeting I will

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be having tomorrow will be with the chairman of the whole Tata group. I

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want to get a final agreement on the cells process. It comes that to our

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role. I want to make sure that when the documentation is issued, the UK

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government understand it has a role and we are well called a native with

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Tata. This is Outside Source live

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from the BBC newsroom The Icelandic prime minister has

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resigned after allegations that he concealed millions

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of dollars' worth of investments There had been big protests

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in Rejkjavik calling for him to step down since the documents

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were revealed as part Let's have a look at what's

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being covered elsewhere on the BBC. Judges at the International Criminal

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Court have thrown out the case of the Kenyan deputy president

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William Ruto and the Both men deny charges of crimes

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against humanity in connection with the deaths of 1,200 people

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in violence following BBC Swahili are covering that story,

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and Focus on Africa will have much Azerbaijan has agreed a ceasefire

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with the ethnically-Armenian authorities who control

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the separatist region of Nagorno-Karabakh,

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after four days of fierce fighting. Azerbaijan and Armenia fought

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a six-year war over the territory in which thousands were killed

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and displaced on both sides. A US Marine Corps dog called Lucca,

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who lost her leg on duty, has been awarded a veterans charity

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medal honouring the work That's one of the most watched

:15:25.:15:27.

videos on the BBC News App. is one of the most watched videos on

:15:28.:15:37.

the BBC News app. A new study suggests that a daily

:15:38.:16:05.

dose of vitamin team can help with your heart. Certainly, it has made a

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major step forward in terms of new treatment of people with heart

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failure. 1 million people in the UK suffer from this disorder, so it is

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important. We did realise six or seven years ago that lots of

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patients with heart failure had low vitamin D. There is some scientific

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evidence to suggest it could improve cardiac function. We carried out a

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long-term study, including people with weak hearts, and gave them fit

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in the supplementation and another group see both. We found the cardiac

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function improved substantially in patients who were given vitamin D2

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applet. The results of that study have led to a new series of

:16:54.:17:06.

questions. People are asking whether they can overdose on vitamin deep?

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You should not just go out and start taking vitamin Deezer pler and is

:17:12.:17:15.

anyway. If you have too much vitamin deep, you can get into trouble with

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your kidneys. It needs to be done under medical supervision. Defence

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spending has increased. Jeremy Howell reports.

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Some countries have tried to pare back their defence spending, but due

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to conflict across the world, arms... Saudi Arabia's defence

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spending increase by 5.7% to $80 billion. This included was in Yemen,

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Syria and Iran. But the far east is seeing the biggest increase. China

:18:22.:18:28.

has hiked its defence spending by 7.4% to $215 billion. If you are

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South Korea, Vietnam's, Japan, you name it, the threat is now. It is

:18:44.:18:49.

not going away. It declares it is going to get stronger and stronger

:18:50.:18:52.

and you suddenly say, we have two spend money. This increasing global

:18:53.:18:58.

military spending is a boon to the arms industry. BAE Systems, the

:18:59.:19:03.

world's largest defence contractors has seen its stock price almost

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trebled since 2011. It is a positive development for defence firms, but

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at the same time, those dollars are coming from Asia-Pacific. There is

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an increasingly competitive environment. They're not having to

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just compete with each other, but Asian countries like South Korea.

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Tip has agreed a deal to broadcast Thursday night American football

:19:44.:19:54.

games on Thursdays for free. Let's talk to our correspondence. Sport

:19:55.:19:59.

via Twitter, tell us more. Sport has always been on Twitter.

:20:00.:20:05.

People are analysing what is going on, following the action through

:20:06.:20:12.

tweets and hashtags. The anything missing has been the action itself.

:20:13.:20:18.

This will place the live footage on Twitter. It is a missing piece of

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the puzzle for Twitter. It is only... Our technology reporter.

:20:30.:20:37.

Unfortunately... Sorry, we lost you then. If you could go back ten

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seconds or so. I was saying that Twitter went make a huge amount of

:20:43.:20:46.

money through this because the Avenue revenues will be going to

:20:47.:20:50.

them, they will be going to the broadcaster showing the NFL, but it

:20:51.:20:53.

is an interesting move for them and they hope it will drink more users

:20:54.:20:59.

to the service. Is the thinking that this could turn things around for

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Twitter? Yes. Within the last quarter they reported a loss with

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fewer people using the service. For a major social network, it is

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unheard-of. They are looking at methods to attract more people.

:21:16.:21:20.

Sports rights is a quick way to do it. If the reports are correct, they

:21:21.:21:28.

have got the right to less than $10 million which is an incredibly good

:21:29.:21:30.

deal for Twitter. Thank you. Facebook is launching

:21:31.:21:36.

a new feature today to help blind It's called Automatic

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Alternative Text. Basically it uses a complex

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algorithm to tell users Facebook says more than 2 billion

:21:42.:21:43.

photos are uploaded SWIPE The new technology can

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recognise various objects like boats or airplanes,

:21:48.:21:50.

SWIPE activities like like boats or airplanes, activities

:21:51.:21:59.

like tennis or swimming, SWIPE

:22:00.:22:01.

and of course a 'selfie'. Lee Kumutat from BBC

:22:02.:22:03.

Ouch is with me. What we have had from Facebook is a

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status update and it may say photo. If you have lots of friends who post

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a lot of photos, you will hear the state is being updated. It feels as

:23:21.:23:24.

if you are not engaging. And what have Facebook said the

:23:25.:23:29.

reasons for developing this technology? For those reasons. They

:23:30.:23:34.

have done some research and discovered that because social media

:23:35.:23:39.

is becoming more visual, visually impaired people are feeling excluded

:23:40.:23:43.

from social media and they felt they should do something about it. There

:23:44.:23:49.

are lots of people who are at the vanguard of developing axis ability

:23:50.:23:54.

for visually impaired people. You have given it a go. Is it good? Does

:23:55.:24:00.

it give you enough detail? I have two say when I had my first photo

:24:01.:24:06.

described, I got a little thrill. It is nice to know there were two

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people smiling, so that did leave me feeling a bit more engaged. In the

:24:14.:24:17.

demo it said something like, we made it. That photo will have people,

:24:18.:24:25.

they were outdoors, they were wearing sunglasses. There is some

:24:26.:24:30.

way to go, but it is a real step forward. Twitter launched a similar

:24:31.:24:36.

thing a couple of weeks ago where people can manually, if you have put

:24:37.:24:41.

a photo art, people can manually puts alternative text so blind

:24:42.:24:46.

people will know what their photos are as well.

:24:47.:25:01.

Now, a mother whose son died in a car accident and donated the heart

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to about the person has met the person who received the heart. She

:25:17.:25:21.

was able to hear her son's heartbeat in the chest of another person. How

:25:22.:25:33.

does it sound? Really good. It definitely sounds as if it belongs

:25:34.:25:37.

there. What an incredible experience. A reminder of other top

:25:38.:25:42.

stories. The prime minister of

:25:43.:25:43.

Iceland has resigned - the first major casualty

:25:44.:25:45.

of the leaked Panama Papers. The leaks, from the Panamanian law

:25:46.:25:47.

firm Mossack Fonseca, showed he owned an offshore company

:25:48.:25:49.

with his wife but had not declared We will be back shortly, but first,

:25:50.:26:01.

the weather.

:26:02.:26:05.

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