:00:00. > :00:09.This is Business Live from BBC News with Ben Thompson and Sally Bundock.
:00:10. > :00:11.More raids as British police continue their investigation
:00:12. > :00:13.into Saturday's attack in London but do they have the
:00:14. > :00:34.Live from London, that's our top story on Monday, 5th June.
:00:35. > :00:38.Days ahead of an election the Labour opposition accuses the Conservative
:00:39. > :00:46.government of trying to "protect the public on the cheap".
:00:47. > :00:49.Also in the programme: The UAE's Etihad Airways says is suspending
:00:50. > :00:57.flights to Qatar amid a regional political row over terrorism.
:00:58. > :01:02.Markets are looking like this. Oil prices on the rise over those
:01:03. > :01:06.tensions in the Middle East. We will have all of the details.
:01:07. > :01:09.And with security high on the agenda for the aviation industry we'll find
:01:10. > :01:11.out what impact it's having on airlines as they hold
:01:12. > :01:17.If you want to get in touch with us about anything we're
:01:18. > :01:40.We start with events over the weekend and the massive police
:01:41. > :01:44.operation after Saturday night's terror attack in central London. The
:01:45. > :01:46.investigation is well under way. In the last few hours police have
:01:47. > :01:49.raided two more properties in east London as they investigate
:01:50. > :02:00.the attack which killed seven people It has prodded questions over how
:02:01. > :02:01.the police are funded and if they have the resources they need.
:02:02. > :02:03.Jeremy Corbyn accused the Conservatives of trying
:02:04. > :02:05.to "protect the public on the cheap".
:02:06. > :02:08.They accused him of "desperate promises and evasive soundbites".
:02:09. > :02:22.The total police budget for England and Wales stands
:02:23. > :02:25.Because it's a devolved issue in Scotland and Northern Ireland
:02:26. > :02:29.On top of that there are extra grants including about $725 million
:02:30. > :02:39.away and the Labour opposition is pledging about ?386
:02:40. > :02:44.The governing Conservatives haven't given costings
:02:45. > :02:46.but say that a new "infrastructure police force" will help
:02:47. > :03:03.Earlier I spoke to a security expert. He said cuts to police
:03:04. > :03:06.numbers have forced changes in strategy. It is a difficult one and
:03:07. > :03:10.there is no hiding from the fact that resources in the police have
:03:11. > :03:13.dropped since 2010. Police will always want more resources to deal
:03:14. > :03:17.with this threat. I think it is worth noting that, and you said it
:03:18. > :03:22.before, the response capability of the police forces was fantastic. To
:03:23. > :03:26.deal with that in eight minutes shows that they have managed to
:03:27. > :03:31.deploy those resources very, very well. It is a huge task. Obviously
:03:32. > :03:35.the threat, the complexity of the threat we currently face, is an
:03:36. > :03:38.enormous task against the police. There are about 3000 people on a
:03:39. > :03:42.watchlist and you physically cannot watch all of those people all time.
:03:43. > :03:49.It is about using the resources to work out the key targets. There are
:03:50. > :03:51.about 550 active investigations in counterterrorism at any time. They
:03:52. > :03:58.will prioritise those that they think are the most important. I
:03:59. > :04:03.think the reviews will come, did they miss anything, should these
:04:04. > :04:06.have been a higher priority and how can we ensure that in future attacks
:04:07. > :04:13.they prioritise those and intervene sooner. Antony leather, that I spoke
:04:14. > :04:16.to earlier. Throughout the programme I will keep you up-to-date with any
:04:17. > :04:22.developments from central London. We have got a live page up and running,
:04:23. > :04:23.updating all the time. We will be with our correspondence at the
:04:24. > :04:25.scene. Facebook says it wants to make
:04:26. > :04:28.itself a hostile environment for people who carry out
:04:29. > :04:29.acts of terror. British Prime Minister -
:04:30. > :04:32.Theresa May - has called on technology companies to do more
:04:33. > :04:34.to tackle extremist content online. Google says it's already spent
:04:35. > :04:37.hundreds of millions of dollars Toyota has ended its tie-up
:04:38. > :04:45.with Tesla and stepped up efforts to develop electric
:04:46. > :04:58.vehicles by itself. Toyota bought about 3% of Tesla
:04:59. > :05:00.for $50 million in 2010. But the Japanese carmaker announced
:05:01. > :05:03.this at the weekend that it sold the last of its stake in Tesla
:05:04. > :05:06.at the end of 2016. Toyota wants to launch
:05:07. > :05:08.its own purely electric car and is continuing to develop
:05:09. > :05:10.hydrogen fuel cells. The World Bank has maintained
:05:11. > :05:13.its forecast that global growth will rise to 2.7% this year,
:05:14. > :05:15.citing a pickup in manufacturing and trade, improved confidence
:05:16. > :05:18.and a rebound in commodity prices. Despite the good news,
:05:19. > :05:20.the World Bank warned that political uncertainty and the threat
:05:21. > :05:38.of protectionism posed a risk Lots more information on the
:05:39. > :05:42.website. There are lots of business stories on there and also more
:05:43. > :05:46.updates about the situation in London, following Saturday night's
:05:47. > :05:50.terror attack at London Bridge. This is an interview between Karen
:05:51. > :05:54.Bradley, the Secretary of State for culture, media and sport, talking to
:05:55. > :05:56.BBC radio, saying that the Government needs to work extremely
:05:57. > :06:02.hard to tackle this problem following the extremism on the
:06:03. > :06:05.internet. She was probed about that. Lots of commentary on that and
:06:06. > :06:13.reaction from some of the social media giants to that. Facebook
:06:14. > :06:14.saying it is doing all it can to tackle extremist content on its
:06:15. > :06:23.website. Our technology correspondent on the
:06:24. > :06:26.West Coast of the US is staying right across that, getting a
:06:27. > :06:31.response from Google, Facebook and the other social media firms about
:06:32. > :06:34.how they tackle and police the content.
:06:35. > :06:35.Five Arab nations have cut diplomatic ties
:06:36. > :06:41.Saudi Arabia, the UAE, Bahrain and Saudi Arabia have
:06:42. > :06:43.accused the country of meddling in their affairs and
:06:44. > :06:54.And that's led Etihad Airways - the UAE national airline -
:06:55. > :06:57.Other airlines are expected to do the same.
:06:58. > :06:59.Let's get the details from our Asia Business Hub.
:07:00. > :07:08.This is a really interesting story. We have talked about a lack of
:07:09. > :07:13.cooperation between the Gulf states, but this is upping the ante, cutting
:07:14. > :07:18.diplomatic ties over what is alleged to be meddling in internal affairs
:07:19. > :07:22.and links to terrorism, pretty serious accusations? Absolutely. Oil
:07:23. > :07:30.prices are showing they inched up, over $50 a barrel. This has come on
:07:31. > :07:33.the news that broke that Saudi Arabia, the world's biggest crude
:07:34. > :07:36.oil exporter, and a couple of other nations in the Middle East, broke
:07:37. > :07:40.diplomatic ties with guitar over what they say is the country's
:07:41. > :07:43.support for terrorism. A Saudi state news agency said it is shutting down
:07:44. > :07:51.the border, severing contact with its fellow Opec member. That means
:07:52. > :07:57.if you are travelling in the region, you might want to call your carrier
:07:58. > :08:04.earlier. They are cancelling Etihad airway flights tomorrow. The Qatar
:08:05. > :08:10.Foreign Ministry says they regretted the decision. We will have to wait
:08:11. > :08:15.and see. Thank you, good to see you. We want to return to our top story.
:08:16. > :08:17.Security expert Will Geddes is near the site of the attack
:08:18. > :08:20.He is a security expert and Founder of International
:08:21. > :08:25.Thanks for joining us. We have been talking at the start of the
:08:26. > :08:28.programme about the police investigation ongoing. Give us a
:08:29. > :08:32.sense of where you are. You have been talking to a lot of people, you
:08:33. > :08:39.have insight into the security services. What is the priority right
:08:40. > :08:43.now? The priority right now is looking at these three individuals.
:08:44. > :08:49.They have their identity, so they are going to be looking at any kind
:08:50. > :08:54.of associates, activity linked to any active cells under observation,
:08:55. > :09:01.or that may not even be known. There will be doing a sift through their
:09:02. > :09:03.networks, digital, cellular, footprints, and also, no doubt,
:09:04. > :09:09.speaking with international colleagues. Not only the
:09:10. > :09:19.intelligence agencies in continental Europe, the Middle East and within
:09:20. > :09:22.five eyes partners. You can see the areas cordoned off, the police
:09:23. > :09:27.investigation will go on for some days. The nearest tube station is
:09:28. > :09:34.open, people are back to work. London is operating as an
:09:35. > :09:40.international city? Yes, absolutely. You only have to look around. London
:09:41. > :09:43.is incredibly robust. We can't forget we have had decades of
:09:44. > :09:48.dealing with terrorism and we have had horrific attacks before. One of
:09:49. > :09:53.the impacts that has a major influence in terms of terrorism into
:09:54. > :09:56.business is, and again it is evident around the local area, which the
:09:57. > :09:59.police have still got caught and off, to keep as a scene of crime
:10:00. > :10:02.until they finish their investigations, is that it does
:10:03. > :10:06.disrupt business in the immediate area. There are a number of
:10:07. > :10:10.employees standing around, evidently not able to cross the cordon to get
:10:11. > :10:14.to work. Terrorism has a number of different impacts. Not only in the
:10:15. > :10:18.very visceral sense, in terms of human casualty and fatality, but it
:10:19. > :10:22.has an impact on business, to a greater and lesser degree, in terms
:10:23. > :10:26.of the isolation of those areas until the authorities can clear
:10:27. > :10:34.them. I would imagine any business that has operations in London cuts
:10:35. > :10:38.to think this way for the future? Absolutely. Many companies that we
:10:39. > :10:40.know of, a number of clients, have already been looking at their crisis
:10:41. > :10:44.management and their business continuity plans to incorporate not
:10:45. > :10:49.only the traditional types of business interruption issues but
:10:50. > :10:54.most especially terrorism. I think it is a very realistic and pragmatic
:10:55. > :10:57.aspect but any company has to consider. These things can be
:10:58. > :11:02.incredibly spontaneous. It can be, in the most well resourced
:11:03. > :11:06.environments as well, these things can simply happen and it can
:11:07. > :11:09.restrict the business from operating. They need to look
:11:10. > :11:10.practically at how they continue their business. Thanks for your time
:11:11. > :11:21.this morning. Let's get back on track with the
:11:22. > :11:22.issues we work discussing about the tensions around the Middle East.
:11:23. > :11:35.That is pushing up prices for oil. That is because the largest exporter
:11:36. > :11:40.of crude oil, Saudi Arabia, other Arab states, cutting ties with
:11:41. > :11:44.Qatar. We have talked about it there, the details of why an airline
:11:45. > :11:47.is stopping flights to Qatar. Really interesting to see how that plays
:11:48. > :11:53.out over the coming days. This is what Europe is doing at this point.
:11:54. > :12:00.Frankly, not much movement. They are in wait-and-see mode across the euro
:12:01. > :12:03.zone. Particularly ahead of the election in the UK. We will talk
:12:04. > :12:05.more about that in a moment. Michelle Fleury has details about
:12:06. > :12:08.what is ahead in the United States. The credit crisis exposed gaps
:12:09. > :12:11.in how the financial In its wake, the Dodd-Frank
:12:12. > :12:15.financial reform law was introduced This week, the house is expected
:12:16. > :12:20.to vote to dismantle it. But the bill to change it -
:12:21. > :12:23.The Financial Choice Act, as it's called - is likely to face
:12:24. > :12:27.opposition in the Senate. The smart money on Wall Street
:12:28. > :12:30.is betting that the final bill will likely include hopeful
:12:31. > :12:32.community banks, rather Joining us is Jessica Ground, UK
:12:33. > :12:51.Equities Fund Manager at Schroders. Good morning. Lovely to see you. We
:12:52. > :12:56.were looking at the numbers in Europe, the FTSE is flat, the pound
:12:57. > :13:04.is weak a bit. I guess that is the reaction you would expect. We have
:13:05. > :13:10.the election a feud a -- a few days away? Yes, everybody will be looking
:13:11. > :13:13.to the election, the polls showing that the lead was narrowing saw some
:13:14. > :13:18.people putting the pound under pressure last week. It is really
:13:19. > :13:22.going to be down to the size of her majority, if indeed she has one. I
:13:23. > :13:27.think the markets will be quite sensitive to that on Friday morning.
:13:28. > :13:31.I also mentioned oil. It is interesting, the tensions in the
:13:32. > :13:39.Gulf. In the past they have tried to come up with the Gulf cooperation
:13:40. > :13:44.agenda, that is not necessarily happening. We have seen oil going up
:13:45. > :13:48.accordingly? Definitely. Very interesting, the diplomatic moves to
:13:49. > :13:54.isolate Qatar on the back of some remarks that the leadership had been
:13:55. > :13:58.making there. Unsurprisingly, oil spiking as people worry about the
:13:59. > :14:03.tensions. Keep in mind that commodity prices have been
:14:04. > :14:07.relatively weak this year. So, still spiking from low levels. Briefly,
:14:08. > :14:14.many are already looking ahead to the Fed. They are missing next week.
:14:15. > :14:19.Given the news about the economy, jobs, many are saying maybe not a
:14:20. > :14:22.rate rise in June? Exactly. We have been waiting for a long time to see
:14:23. > :14:27.the US start to raise interest rates. People are feeling it is a
:14:28. > :14:33.sign that the Fed feels the economy is performing very well. But jobs
:14:34. > :14:39.are incredibly important into that decision. So, a lot of watching to
:14:40. > :14:41.see how secure they are feeling. All right, Jessica will return later. We
:14:42. > :14:45.are going to look at some of the other stories in business. Still to
:14:46. > :14:51.come, how to tackle terrorism. The As the world's top
:14:52. > :14:53.airlines meet in Mexico - The challenge - keeping passengers
:14:54. > :14:57.safe but keeping planes flying. You're with Business
:14:58. > :15:10.Live from BBC News. Leaving the EU could make it harder
:15:11. > :15:16.for companies to find well qualified staff,
:15:17. > :15:21.according to the CIPD. It says nearly three-quarters
:15:22. > :15:25.of firms expect competition for good staff to rise making it more
:15:26. > :15:37.difficult to get Clare, good morning to you. Good
:15:38. > :15:42.morning. Why it sounds simple, doesn't it, it is more difficult to
:15:43. > :15:46.get people to come in. Is this about immigration or a competition for top
:15:47. > :15:50.talent? It's about a competition for top talent and about organisational
:15:51. > :15:55.concerns. In our research we found that organisations were concerned
:15:56. > :15:58.about accessing senior and skilled employees, but also operational
:15:59. > :16:01.staff as well. So while the future in relation to access to skills
:16:02. > :16:06.might not be certain, what organisations can do at the moment
:16:07. > :16:10.is really try to sharpen their hiring processes and focus on
:16:11. > :16:16.developing and keeping their existing employees.
:16:17. > :16:20.So that's the big issue and you are not alone in saying this is a real
:16:21. > :16:24.problem and warning about this issue, but obviously we have an
:16:25. > :16:28.election just a few days away, Brexit is on the minds of many going
:16:29. > :16:33.to the polls. I mean, what are you calling for and from who? So,
:16:34. > :16:38.basically, we think it's really important that whoever wins the
:16:39. > :16:42.general election is aware of these organisational concerns, encourages
:16:43. > :16:45.organisations to develop employees, but from an organisational
:16:46. > :16:48.prospective, more needs to be done around measuring and evaluating
:16:49. > :16:52.hiring processes and more needs to be done around delivering on
:16:53. > :16:58.diversity and then finally more needs to be done around helping to
:16:59. > :17:02.keep existing employees and to develop them to fill some of the
:17:03. > :17:06.current skill gaps that organisations are experiencing and
:17:07. > :17:10.also some of those skill gaps that they might be experiencing in the
:17:11. > :17:13.future as a result of any Brexit deal or negotiation.
:17:14. > :17:22.All right, Clare, thank you very much indeed. Clare McCartney. They
:17:23. > :17:24.used to be known as the Chartered Institute of Personnel and
:17:25. > :17:31.Development before they scrunched it together. I can see why they did
:17:32. > :17:36.that. It's quite a mouthful. We are staying across events in
:17:37. > :17:48.London. There is details there on president BBC Business Live page. It
:17:49. > :17:52.is available on the website. Police here in Britain say they have
:17:53. > :17:56.seized a huge amount of forensic material as they investigate the
:17:57. > :18:00.latest terror attack in London. This is a live shot now. You can see the
:18:01. > :18:05.Shard there, of course, which is very close to where all this
:18:06. > :18:12.happened late on Saturday evening and with an election just days away,
:18:13. > :18:16.the two main political parties have been at pains to say that, of
:18:17. > :18:21.course, they want to continue with the democratic process in this
:18:22. > :18:24.country despite the events of Saturday night that, perhaps want to
:18:25. > :18:32.try and disrupt that process. That's the view you can see there at London
:18:33. > :18:40.Bridge just down from Borough Market. The first reports coming
:18:41. > :18:44.into police at 10.08pm, but the police response incredibly quick,
:18:45. > :18:47.having shot the three attackers just eight minutes later. By 10.16pm that
:18:48. > :18:52.event was over. And security is of paramount
:18:53. > :18:55.importance to the airline sector. It has performed well in recent
:18:56. > :18:58.years, despite fierce competition But as the international
:18:59. > :19:07.trade body, IATA, meets for its annual get together
:19:08. > :19:10.in Mexico could 2017 be a year Profits last year were at
:19:11. > :19:21.a record high at $35.6 Profits last year were at a record
:19:22. > :19:30.high at $35.6 point dollars with passenger numbers up 6.3%
:19:31. > :19:33.percent compared to 2015. with passenger numbers up
:19:34. > :19:34.6.3% compared to 2015. But IATA has since downgraded
:19:35. > :19:37.its outlook for this year saying the rising cost of oil will provide
:19:38. > :19:40.a headwind for the industry but also The question of whether the
:19:41. > :19:44.United States will extend its ban on laptops in the cabin
:19:45. > :19:46.for all international The US already has a ban
:19:47. > :19:50.on large electronic devices on flights to and from
:19:51. > :19:55.eight mostly-Muslim countries. With us is Rochelle Turner,
:19:56. > :20:07.Research Director, It was a very swift, almost like an
:20:08. > :20:11.overnight ban and caused chaos at the time. Give us your take on what
:20:12. > :20:14.the industry body will discuss on that today? Well, I think the
:20:15. > :20:18.industry body are having their meeting in Mexico and they are
:20:19. > :20:22.worried about what the measures mean for travel and tourism the world
:20:23. > :20:27.over. Travel and tourism is a vastly important sector. 10.2% of global
:20:28. > :20:32.GDP relies on the tourism sector and aviation is about a third of that.
:20:33. > :20:37.So it's a huge amount of money. And also of jobs. Now security is vital
:20:38. > :20:42.to that and we have to ensure that these measures are not only put in
:20:43. > :20:45.place with consultation among the industry, but that those on the
:20:46. > :20:49.ground who are actually implementing t the people that are at the
:20:50. > :20:52.checkpoints that have to put the security bags through the security
:20:53. > :20:56.scanners or tell the people no, you can't take these materials with you,
:20:57. > :20:59.they also have to know so we don't see the chaos that we have seen in
:21:00. > :21:04.the past. How resilient is the airline industry? It's not the first
:21:05. > :21:08.threat it faced or the first challenge it had to overcome, we saw
:21:09. > :21:13.a lot of head winds after 9/11 and we have seen it since from
:21:14. > :21:19.restrictions on liquids. Is this just another bump in the road for
:21:20. > :21:23.them, a laptop ban? They said in the last ten years we have had more
:21:24. > :21:26.disruption and it has been less peaceful for the last decade than
:21:27. > :21:30.previous decades. Yet at the same time we have seen the global
:21:31. > :21:35.aviation industry increase 4% a year for each of those years of the last
:21:36. > :21:40.ten years. So yes, we are incredibly resilient despite what is happening.
:21:41. > :21:42.When it comes to the issue of open skies, regulation, and some would
:21:43. > :21:46.argue protectionism within the industry, what will be discussed
:21:47. > :21:50.about that? Well, I think that's a very good question and there will be
:21:51. > :21:53.a lot of discussion because we are seeing more and more protectionist
:21:54. > :21:57.measures being put in place. We are seeing the laptop ban. That stops
:21:58. > :22:00.people travelling. We are seeing the ban from Muslim countries that
:22:01. > :22:05.Donald Trump tried to put into the US. And we are seeing a lot of these
:22:06. > :22:09.measures that may come in almost by stealth if you like that they just
:22:10. > :22:13.stop people travelling and we have to make sure that people can
:22:14. > :22:16.continue to travel. Of course, there are security measures that are in
:22:17. > :22:20.place, but they are proportionate and relevant and people on the
:22:21. > :22:25.ground know how to implement them. Rochelle, thank you. If we get any
:22:26. > :22:29.news out of that annual convention in Mexico, we'll update you.
:22:30. > :22:33.This programme is all about you, what you want to hear from us and
:22:34. > :22:35.what you want us to explain. Here is a reminder of how to tell us what
:22:36. > :22:38.you want us to talk about. The Business Live page
:22:39. > :22:40.is where you can stay ahead of all the day's
:22:41. > :22:42.breaking business news. We'll keep you up-to-date
:22:43. > :22:44.with all the latest details, with insight and analysis
:22:45. > :22:47.from the BBC's team of editors Get involved on the BBC business
:22:48. > :22:57.live web page: bbc.com/business. On Twitter, @BBCBusiness
:22:58. > :23:01.and you can find us on Facebook Business Live on TV and online,
:23:02. > :23:19.whenever you need to know. Jessica is back as you can see. In
:23:20. > :23:26.the Financial Times, eurozone recovery becomes surprise economic
:23:27. > :23:28.story of 2017. We are so used to moaning about the eurozone and yet
:23:29. > :23:34.this year is proving to be a good one? What's more surprising under
:23:35. > :23:37.that Portugal-Italy, not traditionally seen as, we know
:23:38. > :23:41.Germany has been strong for sometime, but showing good levels of
:23:42. > :23:45.growth. I think quite surprising as well because everybody felt that
:23:46. > :23:49.Prost Trump that the US was going to be the runaway success, but the
:23:50. > :23:53.eurozone benefiting from exports, but also it will be encouraging to
:23:54. > :23:58.policy makers. Consumption is starting to recover. The outcome of
:23:59. > :24:06.the French election and the Netherlands has helped with the good
:24:07. > :24:12.news story? Yes, but we are focussed on the Italian election to say
:24:13. > :24:15.complete that picture. The only reason we are surprised is because
:24:16. > :24:21.our expectations are low? That's true. We are still talking about
:24:22. > :24:24.growth in Italy of 0.4%, but I think what's really interesting is we
:24:25. > :24:29.start, when we start to think what might be the central bank and what
:24:30. > :24:34.it is doing in response. One of the reasons that Europe is unusual it
:24:35. > :24:39.had a huge amount of Central Bank quantitative easing and low rates
:24:40. > :24:44.and when we start to navigate more normality. Growth has been low not
:24:45. > :24:47.just in Europe, but globally. Tell us about the story in the
:24:48. > :24:51.Independent about Warrington deciding to start its own bank?
:24:52. > :24:55.Really interesting. There has been this huge debate post the financial
:24:56. > :25:00.crisis about is sort of lending getting enough into the real
:25:01. > :25:04.economy? And you have the case now of Warrington investing in a bank
:25:05. > :25:09.and choosing to allocate a substantial amount of money towards
:25:10. > :25:17.that. It is very much about money sourced locally and spent locally
:25:18. > :25:20.and that's sort of what building societies used to do? What happened
:25:21. > :25:24.with the building societies they merged and then for example Barclays
:25:25. > :25:29.took over the likes of the Woolwich and if you like there, is about the
:25:30. > :25:34.next generation TV banks coming up. They are still relatively small
:25:35. > :25:38.though so we have got a while to go before they have a huge impact.
:25:39. > :25:43.Jessica, thank you very much. Warrington is in the north-west. It
:25:44. > :25:48.is near to my hometown. It is my neck of the woods as they say up
:25:49. > :25:53.there. The on going investigation and let's show you pictures. These
:25:54. > :25:59.are the arrivals at the Cobra emergency committee in Westminster.
:26:00. > :26:01.You can see Michael Fallon, the Defence Secretary arriving to
:26:02. > :26:11.co-ordinate the Government response. We will see you tomorrow. Bye-bye.
:26:12. > :26:12.Hello. We've had a taste of summer in recent weeks. That's about to