Browse content similar to 27/01/2014. Check below for episodes and series from the same categories and more!
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been flooded for weeks. Farms and homes remain under water. The | :00:09. | :00:15. | |
government promises action within six weeks. Too little, too late, say | :00:16. | :00:24. | |
local people. Why was this not done ages ago? Why was it not done last | :00:25. | :00:28. | |
year, when it happened then. Why have we are only just had the pumps | :00:29. | :00:33. | |
put in now? We'll be looking at what needs to be done, not just in | :00:34. | :00:37. | |
Somerset but across the country. .Also tonight: Jude Law at the | :00:38. | :00:40. | |
hacking trial. He finds out a relative sold stories to the News of | :00:41. | :00:43. | |
the World. And the journalist who alleges phone hacking went on at the | :00:44. | :00:46. | |
Sunday Mirror too. More trouble for RBS. The | :00:47. | :00:49. | |
taxpayer-owned bank sets aside billions more to settle new claims. | :00:50. | :01:02. | |
50 years after they first conquered America, Paul and Ringo show they | :01:03. | :01:07. | |
can still do it at the Grammys. Tonight on BBC London. | :01:08. | :01:10. | |
The multi-million pound pay-out for the family of a school girl left | :01:11. | :01:14. | |
brain damaged in a medical mix-up. And could councils in the capital be | :01:15. | :01:17. | |
investigated over the way parking tickets are issued? | :01:18. | :01:36. | |
Good evening and welcome to the BBC News At Six. They've been submerged | :01:37. | :01:41. | |
in flood water for nearly a month now, and the residents of the | :01:42. | :01:44. | |
Somerset Levels didn't hold back when they confronted the Environment | :01:45. | :01:48. | |
Minister today. Owen Paterson was told that people are living in third | :01:49. | :01:52. | |
world conditions. He's promised an action plan within six weeks, which | :01:53. | :01:57. | |
will include dredging local rivers. Will that work? We'll have more on | :01:58. | :02:01. | |
that in a moment, but first, Jon Kay on a community that's lost its | :02:02. | :02:11. | |
patience. George, we have seen a release of anger here today, a bit | :02:12. | :02:16. | |
like the release of all of this floodwater. 1 million tonnes of it | :02:17. | :02:20. | |
being pumped off the Somerset Levels every day now, to try to get rid of | :02:21. | :02:24. | |
it, to try to free people's homes and return live to normality. People | :02:25. | :02:29. | |
here do feel the authorities are listening, that their message is | :02:30. | :02:33. | |
being heard and their plight is being understood, and that they're | :02:34. | :02:36. | |
rather beginnings of an action plan. But only the beginning. It feels | :02:37. | :02:43. | |
like the coast has come inland. This afternoon, we saw from the sky just | :02:44. | :02:48. | |
how this area is suffering. Villages cut off. Livestock marooned. Why was | :02:49. | :02:59. | |
this not done ages ago? This is what confronted the Environment Secretary | :03:00. | :03:04. | |
when he turned up today. He came to see the pumping operation which is | :03:05. | :03:08. | |
now under way. It's an impressive sight, but many people here feel | :03:09. | :03:13. | |
it's too little, too late. Why was this not done last year when it | :03:14. | :03:17. | |
happened then? Why have we only just had the pumps in now? We've had this | :03:18. | :03:24. | |
for three weeks, going on and on. That's why he's here today, and why | :03:25. | :03:30. | |
we got extra poncey today. After touring the site, the minister | :03:31. | :03:33. | |
promised an action plan for the Somerset Levels. He wants a viable, | :03:34. | :03:41. | |
long-term scheme. The locals have six weeks to work with government | :03:42. | :03:46. | |
and local agencies to come up with a good, concrete plan. Mr Patterson | :03:47. | :03:52. | |
said the action plan would almost certainly involve more of this - | :03:53. | :03:57. | |
dredging the rivers of silt and mud. It's something that was done | :03:58. | :04:01. | |
for generations, but has stopped in recent years. A lot of people who | :04:02. | :04:06. | |
live on the Somerset Levels regard those rivers as the arteries in the | :04:07. | :04:11. | |
human body, and they say they've got clogged up in the last few years and | :04:12. | :04:15. | |
need to be cleared out, so that the whole system can function | :04:16. | :04:19. | |
healthily. Local people have been demanding dredging for years, and | :04:20. | :04:25. | |
they welcomed today's announcement. But the Environment Agency claims | :04:26. | :04:28. | |
much of this year's flooding would still have happened, because there | :04:29. | :04:34. | |
has simply been so much rain. I can get why people latch onto dredging. | :04:35. | :04:38. | |
Because it looks like the immediate panacea. At believe me, it's only | :04:39. | :04:45. | |
part of what other solution takes place here. The Somerset Levels to | :04:46. | :04:50. | |
always flood, but the scale of it this winter has taken people by | :04:51. | :04:54. | |
surprise, and many are desperate for a solution. We flipped him a long | :04:55. | :05:01. | |
time, and we have only experienced this this year and last year. -- we | :05:02. | :05:07. | |
lived here a long time. I actually feel quite numb. Before they can | :05:08. | :05:11. | |
find a long-term solution, they have to deal with the here and now, and | :05:12. | :05:18. | |
there's a lot of it. I'm joined by our science editor, | :05:19. | :05:21. | |
David Shukman. Is dredging the answer? It can be, but only locally | :05:22. | :05:29. | |
as a solution. Water has to go somewhere. If you dredge a river, | :05:30. | :05:34. | |
the water flows down faster and may have a knock-on effect for | :05:35. | :05:38. | |
communities downstream. It's all so expensive. The Environment Agency | :05:39. | :05:45. | |
reckons this might cost ?4.1 million. There are communities up | :05:46. | :05:49. | |
and down the country clamouring for better flood protection. I was on | :05:50. | :05:54. | |
the north coast -- north coast of Norfolk ten days ago, and people | :05:55. | :05:57. | |
want the sea walls that have been breached their to be defended. | :05:58. | :06:01. | |
There's going to be very, very difficult times ahead, when the | :06:02. | :06:06. | |
government decides where to act. In the long term, this is a bit of a | :06:07. | :06:12. | |
wake-up call for the country, to decide how best to have -- how best | :06:13. | :06:19. | |
to handle floodwater. In our cities, if car parks are permeable, | :06:20. | :06:23. | |
rainwater can get into the ground. So a lot to think about. Thank you. | :06:24. | :06:27. | |
The phone-hacking trial has heard how a member of Jude Law's family | :06:28. | :06:30. | |
sold stories about his private life to the News of the World. The trial | :06:31. | :06:35. | |
is now in its 12th week and, for the first time, it's heard evidence that | :06:36. | :06:38. | |
hacking went beyond the News of the World. Dan Evans admitted that he | :06:39. | :06:41. | |
intercepted voice mails while working at the Sunday Mirror. Tom | :06:42. | :06:47. | |
Symonds reports from the Old Bailey. It contains flash photography. | :06:48. | :06:54. | |
This is Dan Evans, the former reporter whose evidence today | :06:55. | :06:57. | |
suggested phone hacking was a standard tool in the tabloid kit, a | :06:58. | :07:02. | |
secret he'd been taught at the Sunday Mirror. He said during a | :07:03. | :07:06. | |
breakfast job interview, he later told Andy Coulson, the then editor | :07:07. | :07:10. | |
of the News of the World, there were several ways to get exclusive | :07:11. | :07:15. | |
stories. One way was to target someone's phone call lists, work out | :07:16. | :07:19. | |
who they are having a relationship with, hack their phone, voice mail | :07:20. | :07:25. | |
is, get some exclusive photos. Work on it for a while, and then you get | :07:26. | :07:31. | |
something that is going to shift units from supermarket shelves. He | :07:32. | :07:35. | |
admitted he hadn't used the phrase phone hacking, but said, I think I | :07:36. | :07:40. | |
referred to it as a stuffed with phones. He said that Andy seemed | :07:41. | :07:44. | |
very pleased with his pitch as a whole. He got the job. The jury was | :07:45. | :07:50. | |
told this morning's witness needed no introductions. Actor Jude Law is | :07:51. | :07:54. | |
one of very few hacking victims to give evidence in person. The | :07:55. | :08:00. | |
prosecution says in 2005, journalists at the World were | :08:01. | :08:04. | |
targeting him because of rumours that his partner at the time, Sienna | :08:05. | :08:09. | |
Miller, was having an affair. Jude Law told the court there seem to be | :08:10. | :08:15. | |
an unhealthy amount of information that people had that meant they had | :08:16. | :08:19. | |
access to my life and my whereabouts. But the defence | :08:20. | :08:23. | |
questioned him about the possibility the stories were sourced from those | :08:24. | :08:27. | |
close to him, not phone hacking. Timothy Langdale QC, defending Andy | :08:28. | :08:33. | |
Coulson, handed him a bit of paper. On it was written a single name, and | :08:34. | :08:37. | |
Jude Law confirmed it was the name of a relative of his. The defence | :08:38. | :08:42. | |
lawyer said this was somebody who had been paid by the News of the | :08:43. | :08:45. | |
World to give information about the actor. Jude Law said today was the | :08:46. | :08:50. | |
first time he had heard about this. How did reporters get their | :08:51. | :08:53. | |
stories? One of the key questions the jury will have to consider. Andy | :08:54. | :08:58. | |
Coulson, Rebekah Brooks and the other defendants deny all the | :08:59. | :09:00. | |
charges. There's more trouble ahead for Royal | :09:01. | :09:03. | |
Bank of Scotland, which is largely owned by the taxpayer. It's issued a | :09:04. | :09:06. | |
warning about its finances when the results are published next month. | :09:07. | :09:10. | |
It's had to set aside more than ?3 billion to cover claims over its | :09:11. | :09:14. | |
conduct both here and in America. Our personal finance correspondent, | :09:15. | :09:22. | |
Simon Gompertz, is with me. This is a huge amount of money. What is it | :09:23. | :09:28. | |
for? Its compensation for people who were mis-sold payment protection | :09:29. | :09:33. | |
insurance, or PPI. They are getting bigger claims than expected. Also | :09:34. | :09:38. | |
for small businesses who were mis-sold policies to protect them | :09:39. | :09:42. | |
against interest rate movements. There are claims and finds in the | :09:43. | :09:46. | |
United States too. It doesn't stop there. They have said they are | :09:47. | :09:51. | |
setting aside ?4.5 billion for bad loans during the financial crisis, | :09:52. | :09:56. | |
which means that next month, they could announce a total loss of mere | :09:57. | :10:14. | |
?8 billion. So how they are turning to the taxpayers for that, who own | :10:15. | :10:17. | |
80% of the bank? Senior managers are not going to get bonuses, but that | :10:18. | :10:20. | |
is just a fraction of the amount that has been lost. | :10:21. | :10:22. | |
The Coronation Street actor William Roache has been cleared of one of | :10:23. | :10:25. | |
seven sex abuse charges at his trial. Jurors at Preston Crown Court | :10:26. | :10:29. | |
were directed by the judge to return a not guilty verdict, after the | :10:30. | :10:31. | |
prosecution offered no further evidence. Mr Roache is still on | :10:32. | :10:34. | |
trial over two rape and four indecent assault allegations. He | :10:35. | :10:36. | |
denies the charges. The former Radio One DJ Dave Lee | :10:37. | :10:40. | |
Travis has told a court he is not a sexual predator and has a "cuddly | :10:41. | :10:44. | |
nature" towards women. At the start of his defence against 13 indecent | :10:45. | :10:47. | |
assault charges and one of sexual assault, the court heard how he told | :10:48. | :10:50. | |
police that he'd lost work, money and health because of the | :10:51. | :10:55. | |
allegations. From Southwark Crown Court, June Kelly, reports. | :10:56. | :11:05. | |
For the past two weeks, Dave Lee Travis has been portrayed at this | :11:06. | :11:09. | |
trial as a sexual predator who targeted vulnerable females. More | :11:10. | :11:14. | |
than a dozen women have testified against him. His alleged crimes | :11:15. | :11:19. | |
spanned more than 30 years. Today, it was his turn to answer his | :11:20. | :11:24. | |
accusers. He said he was fighting for his reputation. In the early 80s | :11:25. | :11:30. | |
at the headquarters of BBC Radio, he is said to have indecently assaulted | :11:31. | :11:34. | |
a colleague while she was making an announcement on air. Asked about | :11:35. | :11:39. | |
this from the witness box today, he said: | :11:40. | :11:49. | |
He spoke about his long broadcasting career, and said he was also a keen | :11:50. | :11:57. | |
photographer. He told the jury he'd taken some nude shots, but said they | :11:58. | :12:03. | |
were never tacky. Explaining he touched lots of girls, he said, I | :12:04. | :12:08. | |
like women, because I think they are wonderful. The sexual predator bit | :12:09. | :12:14. | |
is completely nonsensical. I'll hug them and give them a kiss. For | :12:15. | :12:20. | |
years, DLT, as he was known, fronted one of the BBC's bigger shows. He | :12:21. | :12:26. | |
said that while some people in show business went in for a kissing, that | :12:27. | :12:28. | |
wasn't his style. He said: It was the Jimmy Savile scandal | :12:29. | :12:50. | |
which led to the police operation under which Dave Lee Travis was | :12:51. | :12:53. | |
arrested. Today he said that -- he said he had no inkling Southall was | :12:54. | :13:00. | |
a paedophile, which he said was the worst crime. -- no inkling that | :13:01. | :13:05. | |
Jimmy Savile was a paedophile. He denied he had ever played on the | :13:06. | :13:10. | |
fact that he was a big name. Of his colleagues who are now accusing | :13:11. | :13:15. | |
him, he said that there were no unimportant people. Everybody is | :13:16. | :13:19. | |
important. The former DJ is due back in the witness box tomorrow, where | :13:20. | :13:23. | |
he will continue his defence. The Prime Minister says there's been | :13:24. | :13:26. | |
what he calls a reasonable level of immigration to the UK from Romania | :13:27. | :13:29. | |
and Bulgaria since restrictions were lifted at the start of the New Year. | :13:30. | :13:32. | |
Our political editor, Nick Robinson, is in Westminster. I wonder what the | :13:33. | :13:39. | |
Prime Minister means when he says reasonable. I wonder that too! I | :13:40. | :13:47. | |
asked him the question at a news conference today. What do you mean | :13:48. | :13:52. | |
by a reasonable level of immigration, I asked, and how do you | :13:53. | :13:57. | |
know? The Government never published any forecasts of the number of | :13:58. | :14:00. | |
Romanians and Bulgarians who would come here, and has not published any | :14:01. | :14:04. | |
information on the number that has come since then. He made it clear | :14:05. | :14:09. | |
that he had no private papers or secret knowledge, he was just going | :14:10. | :14:13. | |
on reports, what he has read in the news. The problem with that | :14:14. | :14:18. | |
statement, reasonable, is it is inflaming a group of Conservative | :14:19. | :14:22. | |
MPs in the House of Commons who are determined to defy him on a vote on | :14:23. | :14:26. | |
immigration later in the week. They want to tear up Britain's legal | :14:27. | :14:33. | |
obligation to take Romanians and Bulgarians. He says that is | :14:34. | :14:37. | |
impossible and would be illegal, but they are not backing down, and these | :14:38. | :14:42. | |
words will not help him. He is also under pressure over Syrian | :14:43. | :14:45. | |
refugees, and letting some of them in. He is saying, what ever you | :14:46. | :14:53. | |
think about immigration, Britain should take some of those vulnerable | :14:54. | :14:58. | |
people in the refugee camps. Children who are orphaned, or people | :14:59. | :15:04. | |
with very serious medical needs. The government has, until now, been | :15:05. | :15:09. | |
saying no, we do not take refugees. Private talks are going on to take | :15:10. | :15:14. | |
hundreds, but to try and do it outside the United Nations. He made | :15:15. | :15:19. | |
no connection between refugees and economic migrants. They are | :15:20. | :15:22. | |
connected because both sets of people appear in the government's | :15:23. | :15:26. | |
immigration targets, a target they looked like missing. Our top story | :15:27. | :15:36. | |
this evening: Angry residents confront the Environment Minister in | :15:37. | :15:39. | |
Somerset over three weeks of flooding and little respite. And | :15:40. | :15:43. | |
coming up: The financial crisis a century ago, how the prospect of war | :15:44. | :15:49. | |
prompted a run on the banks. On BBC London: Death threats and calls for | :15:50. | :15:53. | |
his deselection. The Lib Dem candidate facing a backlash after | :15:54. | :15:57. | |
re-tweeting a religious cartoon. And minimal surgery required, the | :15:58. | :15:59. | |
pioneering procedure delivering pacemakers to heart patients. | :16:00. | :16:10. | |
The economic gap between London and the rest of the UK has widened | :16:11. | :16:14. | |
during the economic recovery according to new research by the | :16:15. | :16:18. | |
Centre for Cities. It says that between 2010 and 2012 the capital | :16:19. | :16:21. | |
accounted for four fifths of all growth in private sector jobs. It | :16:22. | :16:27. | |
also found that almost a third of people aged between 22 and 30 who | :16:28. | :16:32. | |
moved cities headed for London. Danny Savage reports now on the | :16:33. | :16:34. | |
contrasting fortunes of London and Sheffield. The streets may not be | :16:35. | :16:45. | |
paved with gold, but London is still the place to move to four jobs. But | :16:46. | :16:50. | |
such is the pace of growth it is happening at the expense of other | :16:51. | :16:54. | |
cities as people leave their home towns and head to the capital. I am | :16:55. | :17:00. | |
here in London for the job opportunities here. I am a surveyor | :17:01. | :17:05. | |
and there were not any jobs in Manchester. Experts say other UK | :17:06. | :17:09. | |
cities need to rise to the challenge. The people who go there | :17:10. | :17:17. | |
to study stay there to earn their living and make their way and | :17:18. | :17:21. | |
develop the jobs and the businesses that cities need. 170 miles from | :17:22. | :17:26. | |
London Sheffield is one of the cities that needs to do more to | :17:27. | :17:32. | |
retain its talent. But this is not about the old North -South divide | :17:33. | :17:38. | |
argument. Edinboro, Birmingham, Liverpool and Leeds are also said to | :17:39. | :17:43. | |
be showing signs of growth. What is the issue in Sheffield? | :17:44. | :17:47. | |
Manufacturing has always been big here. The boss of this engineering | :17:48. | :17:55. | |
firm believes jobs growth is coming, but it takes time to show. The | :17:56. | :17:57. | |
difference between engineering and service sector jobs can be several | :17:58. | :18:03. | |
years. It takes a lot more time to develop a manufacturing base and it | :18:04. | :18:08. | |
is a generational thing rather than a short-term fix. Not everyone wants | :18:09. | :18:14. | |
to be drawn like a moth to the light of London. Local graduates say | :18:15. | :18:19. | |
friends have soon return from the capital. They used it as a career | :18:20. | :18:24. | |
springboard because there are more opportunities to move up the ladder | :18:25. | :18:28. | |
quickly, but when it comes to making a lifestyle choice, having a family | :18:29. | :18:33. | |
and getting on the housing ladder, it is impossible to live in London. | :18:34. | :18:38. | |
I would not have been able to make much more money down there and I | :18:39. | :18:42. | |
have stayed here because it is a great city and I have found work | :18:43. | :18:48. | |
even after periods of redundancy. The best performing cities have seen | :18:49. | :18:52. | |
private sector jobs offset the losses in the public sector. But the | :18:53. | :18:57. | |
lure of London shows no signs of abating. British skiers heading to | :18:58. | :19:01. | |
the Alps are being warned by French authorities that off-piste skiing | :19:02. | :19:03. | |
this season is the most dangerous in years. This season has seen unstable | :19:04. | :19:06. | |
conditions with 24 killed so far in avalanches in France and | :19:07. | :19:08. | |
Switzerland, including two yesterday and two today. Our correspondent | :19:09. | :19:13. | |
Christian Fraser has been to Montgenevre on the Franco-Italian | :19:14. | :19:15. | |
border to join search teams in training.The TV presenter Nigella | :19:16. | :19:18. | |
Lawson will face no criminal charges after she told a court that | :19:19. | :19:26. | |
the perfect day in the mountains. A blue sky and a fresh blanket of | :19:27. | :19:36. | |
snow. These slopes tempt powder hungry skiers and boarders, but many | :19:37. | :19:40. | |
a day has ended in tragedy. Lucky for this snowboarder they manage to | :19:41. | :19:49. | |
pull him out in time. They had barely 30 minutes to save those | :19:50. | :19:53. | |
buried. Crucial to that mission is the keenest of noses. This is the | :19:54. | :20:00. | |
most elite of police dogs and he can pick up the faintest human scent | :20:01. | :20:04. | |
even through packed snow. That is the most suffocating feeling you can | :20:05. | :20:09. | |
imagine and that was just a drill. It is like being buried under | :20:10. | :20:16. | |
concrete. Thank you, Trixie. Two weeks ago, this man was saved by a | :20:17. | :20:22. | |
dog like Trixie. He was unconscious when rescuers found him buried on | :20:23. | :20:27. | |
this slope under a metre of snow for 40 minutes. He is one of only 13 | :20:28. | :20:32. | |
people they have pulled out of an avalanche alive. TRANSLATION: I | :20:33. | :20:38. | |
could not even move, not even my fingers. It was a sense of | :20:39. | :20:46. | |
helplessness. I thought I was dead. Local British expat Craig Parkin | :20:47. | :20:48. | |
says the fresh powder is not sticking to the unusual icy base | :20:49. | :20:57. | |
layer, so even the most benign off-piste can be volatile. Materials | :20:58. | :21:01. | |
have developed and it has become a lot more accessible for a lot more | :21:02. | :21:06. | |
people. A powdered track can be very tempting and before they think, they | :21:07. | :21:14. | |
can find themselves in danger. In each snow hole the trainer buries a | :21:15. | :21:20. | |
favourite toy with a missing skier, but in some cases the dog is just | :21:21. | :21:24. | |
too late on the scene of an avalanche and often they are hunting | :21:25. | :21:29. | |
bodies. It was not quite a Beatles reunion, | :21:30. | :21:35. | |
but it was a rare occasion when the two surviving members of the band | :21:36. | :21:40. | |
performed together. Paul McCartney and Ringo Starr entertained last | :21:41. | :21:43. | |
night's Grammy awards with a new song half a century after the | :21:44. | :21:48. | |
Beatles first appeared on American TV. There is flash photography in | :21:49. | :21:55. | |
this report. Paint was in red, Katy Perry was wearing white, styles of | :21:56. | :22:00. | |
dance and country on the same red carpet, a nod to the past and some | :22:01. | :22:07. | |
of the latest new talent. Music's power couple, Beyonce and Jay Z, | :22:08. | :22:12. | |
opened the night. The Grammys are all about the spectacle. Katy Perry | :22:13. | :22:19. | |
was burnt at the stake. And Pink swung in to add a bit of drama. It | :22:20. | :22:29. | |
was a big stage reunion for Sir Paul McCartney and Ringo Starr, playing | :22:30. | :22:34. | |
alongside one another. A lifetime achievement award for the Beatles 50 | :22:35. | :22:38. | |
years after their first ever US appearance. And there was a Grammy | :22:39. | :22:44. | |
for Sir Paul McCartney for best rock song. In the main prizes it was the | :22:45. | :22:49. | |
night of the robots. Stevie wonder sang with Daft Punk who won Best | :22:50. | :22:54. | |
group, record of the year and album of the year. Speaking for them was | :22:55. | :23:02. | |
Farrell Williams who is for Mac Grammys included Best producer. It | :23:03. | :23:07. | |
was an amazing night for Lorde, the 17-year-old New Zealander won Song | :23:08. | :23:13. | |
of the night for oils and for best performance. The best newcomers were | :23:14. | :23:18. | |
Macklemore and Lewis with the anthem of the same-sex marriage movement | :23:19. | :23:25. | |
marked at the Grammys with a mass wedding. Gay and straight, old and | :23:26. | :23:29. | |
young, and who else would be the wedding singer but Madonna. This | :23:30. | :23:36. | |
show may be over for another year, but many of the stars will be | :23:37. | :23:41. | |
hanging around an extra day to record another TV spectacular, a | :23:42. | :23:45. | |
concept remembering the 50 years since the Beatles first came to | :23:46. | :23:52. | |
America. Sir Paul and Ringo will no doubt be a part of that. | :23:53. | :23:57. | |
100 years on from the start of World War I there will be a major focus on | :23:58. | :24:02. | |
the early battles of the conflict. But before any shots had been | :24:03. | :24:06. | |
fired, the city of London faced an unprecedented crisis as investors | :24:07. | :24:13. | |
panicked at the prospect of war. The bank of England has just released | :24:14. | :24:16. | |
its archives on the little-known 1914 financial crisis. Before the | :24:17. | :24:22. | |
war had even been declared in 1914, a crisis hit the city of London. | :24:23. | :24:27. | |
Crowds gathered fearful of what might happen to their investments. | :24:28. | :24:33. | |
Jews build up at the bank of England with people desperate to change | :24:34. | :24:38. | |
their paper money into gold. 100 years on, the bank of England has | :24:39. | :24:43. | |
released archives from that period. I was given exclusive access to look | :24:44. | :24:49. | |
at papers covering the story of the early days of World War I. This | :24:50. | :24:53. | |
shows transactions between commercial banks and the bank of | :24:54. | :24:58. | |
England where the banks handed in their bonds in exchange for cash. In | :24:59. | :25:04. | |
a normal week, even in July, 1914, there was not a lot of business. But | :25:05. | :25:11. | |
look at July the 31st, 1914, when fears of impending war were gripping | :25:12. | :25:17. | |
the city. A huge number of deals went through as banks scrambled to | :25:18. | :25:21. | |
get cash out of the bank of England in exchange for their bonds. That | :25:22. | :25:27. | |
they are total of nearly ?11 million was withdrawn. The bank's official | :25:28. | :25:34. | |
interest rate was doubled to 8% and then 10%. Commercial banks and the | :25:35. | :25:37. | |
stock exchange closed down for several days. In the week before | :25:38. | :25:43. | |
Britain went to war all the London financial markets collapsed and it | :25:44. | :25:47. | |
was a systemic crisis that overtook Britain and the world. There were | :25:48. | :25:53. | |
something like 50 countries that had stock exchange crashes and runs on | :25:54. | :25:59. | |
banks in that last week of July. Intervention by the authorities | :26:00. | :26:03. | |
propped up the markets, at the next challenge was to raise money for the | :26:04. | :26:09. | |
war effort. So-called tank banks persuaded people to buy war bonds, | :26:10. | :26:12. | |
in other words lend money to the government. This ledger names the | :26:13. | :26:20. | |
people who bought the war bonds. It makes fascinating reading. It | :26:21. | :26:24. | |
records a gent and a married woman bought the bonds, so to an Apple | :26:25. | :26:29. | |
store and a farmer, an example of the range of people who spent money | :26:30. | :26:34. | |
on the bonds. The Bank of England has had to tackle the many crises | :26:35. | :26:38. | |
since then. The former governor Lorde King said at the time, Sir | :26:39. | :26:47. | |
Mervyn King, said the only other financial crisis as bad as that of | :26:48. | :26:56. | |
2008 was that in 1914. It is time for a look at the | :26:57. | :26:58. | |
weather. There are some changes on the way | :26:59. | :27:08. | |
this week. We start the week with more showers and the threat of | :27:09. | :27:13. | |
further flooding. But around the middle of the week spell of | :27:14. | :27:17. | |
something much colder with a risk of frost and ice, but probably a bit | :27:18. | :27:23. | |
drier. It is very wet in northern Ireland at the moment because we | :27:24. | :27:26. | |
have the centre of the low pressure over there right now. It is driving | :27:27. | :27:32. | |
in the showers blustery winds. It may not be as cold as it was last | :27:33. | :27:38. | |
night, so the chance of eyes is much lower. The winds are crucial | :27:39. | :27:43. | |
tomorrow. The change of direction will force more showers into | :27:44. | :27:49. | |
southern counties. For some western parts of Scotland it may well be a | :27:50. | :27:55. | |
bit drier and the chance of some sunshine as well. We should not see | :27:56. | :27:59. | |
as many showers in Northern Ireland as we have seen today, but by | :28:00. | :28:04. | |
contrast it has been drier in the North East of England and the | :28:05. | :28:09. | |
Midlands. Frequent, heavy showers across the southern counties fed by | :28:10. | :28:14. | |
the warmer waters of the English Channel. Those showers pushed inland | :28:15. | :28:19. | |
and some hail and thunder in there. A log of showers in Wales as well. | :28:20. | :28:25. | |
Around the middle of the week the low-pressure drifts away into the | :28:26. | :28:29. | |
near continent allowing us to pick up more of an Eastern or south | :28:30. | :28:33. | |
easterly breeze and the chance of dragging in some much colder air as | :28:34. | :28:41. | |
well. The showers tend to ease down on Wednesday. On Thursday you will | :28:42. | :28:45. | |
notice the chill. There will be a few snow flurries and it will feel | :28:46. | :28:53. | |
colder. It could be short lived. That is all from the BBC's News at | :28:54. | :28:57. | |
six. On | :28:58. | :28:59. |