Browse content similar to 05/10/2011. Check below for episodes and series from the same categories and more!
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Tonight at 10:00pm: As the economy stalls, David | :00:02. | :00:08. | |
Cameron urges people to adopt a can-do spirit. He tells the | :00:08. | :00:10. | |
Conservative Conference that Britain must turn this time of | :00:10. | :00:19. | |
challenge into a period of opportunity. Let's see an | :00:19. | :00:22. | |
optimistic future, let us show the world some fight, let us pull | :00:22. | :00:28. | |
together, work together, and lead Britain to better days ahead. | :00:28. | :00:31. | |
this on the day of a sharp fall in consumer spending figures. It's | :00:31. | :00:37. | |
Tesco's worst sales performance for 20 years. Consumer confidence is | :00:37. | :00:42. | |
lowering, we can feel that, every time you open a newspaper, go on | :00:42. | :00:46. | |
the internet, watch TV, doom and gloom about something. We'll be | :00:46. | :00:49. | |
looking at the latest signals on the economy and on levels of debt. | :00:49. | :00:51. | |
Also tonight: The trial begins of two Pakistan | :00:51. | :00:54. | |
cricketers accused of conspiring to cheat during a Test match against | :00:54. | :00:55. | |
England. The stem-cell breakthrough which | :00:55. | :01:00. | |
offers a new tailored approach to fighting serious illness. | :01:00. | :01:03. | |
And why the self-styled lord and friend of celebrities is starting a | :01:03. | :01:13. | |
:01:13. | :01:18. | ||
And I will be here with Sportsday later in the owl on a sad day for | :01:18. | :01:22. | |
cricket, as the England fast bowler Graham Dilley dies at the age of | :01:22. | :01:32. | |
:01:32. | :01:42. | ||
Good evening. Faced with more evidence of a stalling economy and | :01:42. | :01:45. | |
a sharp drop in consumer spending, David Cameron has urged people to | :01:45. | :01:51. | |
pull together and mobilise a can-do spirit to face the problems ahead. | :01:51. | :01:54. | |
He told the Conservative conference in Manchester that the world | :01:54. | :01:58. | |
economy could be pushed to the brink by the European debt crisis. | :01:58. | :02:03. | |
But he said Britain could emerge stronger by showing leadership. | :02:03. | :02:06. | |
This report by our political editor, Nick Robinson, contains some flash | :02:06. | :02:12. | |
photography. When the news is bleak, when times | :02:12. | :02:17. | |
are group, what do we need from a leader? David Cameron's answer | :02:17. | :02:26. | |
today was belief, in ourselves, in our country, in him. Not long ago, | :02:26. | :02:33. | |
he, they, we thought this speech would be dominated by the riots. By | :02:33. | :02:37. | |
Britain's long hot summer. Instead, it was overshadowed by the economic | :02:37. | :02:42. | |
storm still breaking around our heads. I know how tough things are, | :02:42. | :02:45. | |
I don't for one minute underestimate how worried people | :02:45. | :02:49. | |
feel. Whether that is about making ends meet or the state of the world | :02:50. | :02:55. | |
economy. But the truth is, right now, we need to be energised, not | :02:55. | :03:00. | |
paralysed by gloom and fear. Let us bring on the can-do optimism, let | :03:00. | :03:04. | |
us summon the energy and of -- appetite to fight for a better | :03:04. | :03:09. | |
future for our country, Great Britain. His party listened hard | :03:09. | :03:14. | |
but rarely looked as if they were energised. Perhaps it was the | :03:14. | :03:17. | |
realisation that their government is not just struggling with paying | :03:17. | :03:23. | |
the bills for the last economic crisis, but facing a new one. | :03:23. | :03:29. | |
threat to the world economy, and to Britain, is as serious as in 2008, | :03:29. | :03:33. | |
when the world recession loomed. The eurozone is in crisis, the | :03:33. | :03:39. | |
French and German economies have slowed to a standstill. Even mighty | :03:39. | :03:45. | |
America is questioned about her debts. It is an anxious time. | :03:45. | :03:49. | |
anxiety was heightened for some by this morning's headlines, | :03:49. | :03:52. | |
suggesting the Prime Minister would tell families to pay off their own | :03:52. | :03:57. | |
credit cards. The words, briefed to journalists last night, were not in | :03:57. | :04:01. | |
fact delivered. The speech was changed and was no longer an | :04:01. | :04:04. | |
instruction but a description of what was already happening. | :04:04. | :04:09. | |
only way out of a debt crisis is to deal with your debts. That is why | :04:09. | :04:12. | |
households are playing down the credit card and the store card | :04:12. | :04:18. | |
bills. He did not call on people to save, or stop spending. But he did | :04:18. | :04:22. | |
claim that was what government had to do, to bail out the mistakes of | :04:22. | :04:29. | |
the last Labour government. plan is right, our plan will work. | :04:29. | :04:35. | |
I know you can't see it all feel it right now. Slowly but surely, we | :04:35. | :04:40. | |
are laying solid foundations for a stronger future. And the vital | :04:40. | :04:45. | |
point is this. If you don't stick with it, it won't work. Growth | :04:45. | :04:49. | |
would come, he said, by cutting business regulations here and in | :04:49. | :04:54. | |
Brussels, by reforming welfare, by launching what he called a Tory | :04:54. | :04:58. | |
housing resolution. The leader, struggling with a sore throat, | :04:58. | :05:02. | |
seemed to struggle to rouse his audience. But what released his | :05:02. | :05:05. | |
passion and theirs was a pledge that children from poor families | :05:05. | :05:10. | |
should do as well as those from rich ones like his own. That's the | :05:10. | :05:14. | |
gulf between private schools and state schools should be bridged. | :05:14. | :05:18. | |
The apartheid between private and state education is one of the | :05:18. | :05:23. | |
biggest wasted opportunities in our country today. Let it be us, the | :05:23. | :05:30. | |
Conservative Party, who helped to tear it down. Rigour back in | :05:30. | :05:35. | |
learning, standards back in schools, teachers back in control. The | :05:35. | :05:39. | |
Conservatives are back in government. They love that, and the | :05:39. | :05:42. | |
promise that his friend, the Education Secretary, would end what | :05:42. | :05:47. | |
he called the scandal of a failing adoption system. His wife laughed a | :05:47. | :05:52. | |
pledge to legalise gay marriage, to encourage a commitment -- laughter | :05:52. | :05:58. | |
His opponent, Ed Miliband was not referenced once. But there was this | :05:58. | :06:05. | |
moment when some booed Tony Blair. In this party, we don't do our | :06:05. | :06:08. | |
leaders, we are proud of what they have done for our party and our | :06:09. | :06:15. | |
country. He ended with a sort of national pep talk, a call to reject | :06:15. | :06:20. | |
pessimism, to embrace the British spirit. Let's see an optimistic | :06:20. | :06:26. | |
future, let us show the world some fight, let us pull together, work | :06:26. | :06:35. | |
together, and together lead Britain It was an invitation to keep the | :06:35. | :06:42. | |
faith. She will, and here at least, they will. This was less a | :06:42. | :06:47. | |
conference speech, and more a call to arms. The Prime Minister is | :06:47. | :06:52. | |
saying to the country, we have been grade before and we can still do it | :06:52. | :06:58. | |
again. Before -- been at great before. Before then, Conservatives | :06:58. | :07:06. | |
will leave here, preparing for As we heard, Mr Cameron spoke on | :07:06. | :07:09. | |
the day which brought more unsettling news about the state of | :07:09. | :07:11. | |
the British economy. It's growing even more slowly than was | :07:11. | :07:14. | |
previously thought and consumer spending has suffered a sharp fall. | :07:14. | :07:16. | |
Britain's biggest retailer, Tesco, announced the worst sales | :07:16. | :07:20. | |
performance in its British stores for two decades. Our economics | :07:20. | :07:30. | |
editor, Stephanie Flanders, looks Today, the Office for National | :07:30. | :07:33. | |
Statistics decided the recession had been deeper than we thought, | :07:33. | :07:37. | |
and the recovery a little bit slower. The changes were small, but | :07:37. | :07:41. | |
when the economic picture is as gloomy as it is today, every little | :07:41. | :07:47. | |
birds. Asked Tesco. Consumer confidence is louring. -- every | :07:47. | :07:52. | |
little hurts. Consumer confidence is lowering. Every time you open a | :07:52. | :07:56. | |
newspaper, go on the internet, doom and gloom about something. Where | :07:56. | :07:59. | |
they are really being pinched I think is the fuel prices, the | :07:59. | :08:04. | |
effect on the utilities. figures show the economy grew by | :08:04. | :08:08. | |
0.1% in the second quarter. That would mean no overall growth in GDP, | :08:08. | :08:13. | |
or national income, since the summer off 2010. Spending by | :08:13. | :08:17. | |
consumers has been falling in real terms. In fact, it is now lower | :08:17. | :08:21. | |
than in 2005. People are spending less because they have less money | :08:21. | :08:26. | |
coming in. Either that, or they are trying to pay off their debts. | :08:26. | :08:29. | |
David Cameron thinks it is crucial for the government to cut back as | :08:29. | :08:32. | |
well, otherwise the financial markets might lose confidence in | :08:33. | :08:37. | |
the UK, and interest rates might go up. For that to work, for low | :08:37. | :08:41. | |
interest rates to support the economy, someone somewhere has to | :08:41. | :08:47. | |
spend more. This was the scene in Athens today. We had hoped other | :08:47. | :08:51. | |
countries would do the spending, but with the Greek crisis now | :08:51. | :08:55. | |
threatening the recovery across Europe, that looks much less likely. | :08:55. | :08:59. | |
The International Monetary Fund said a recession in Europe next | :08:59. | :09:03. | |
year was a distinct possibility. The difficulties of the banking | :09:03. | :09:07. | |
sector may turn into a credit squeeze. That is very damaging in a | :09:07. | :09:11. | |
situation like the one we find ourselves in at the moment. When | :09:11. | :09:14. | |
the economy is slowing down, when there is a great deal of | :09:14. | :09:17. | |
uncertainty, if there is a credit crunch, things might turn really | :09:17. | :09:21. | |
negative. The IMF said the government to think about slowing | :09:21. | :09:26. | |
the pace of deficit cuts, if the economy seems to be at risk of | :09:26. | :09:29. | |
stagnating or shrinking. Some critics think that risk is now very | :09:29. | :09:34. | |
real. It is a pretty risky policy. It assumes if the economy is going | :09:34. | :09:38. | |
to work, that the private sector will spend more relative to its | :09:38. | :09:44. | |
income. Otherwise, all we have is the paradox of thrift. Everybody | :09:44. | :09:48. | |
tries to save and the economy implodes. Sainsbury's's results | :09:48. | :09:53. | |
today were a bit better. Their new slogan is live well for less. As | :09:53. | :09:58. | |
the economic picture continues to darken, David Cameron is one of | :09:58. | :10:02. | |
many politicians around the world hoping we can do just that. | :10:02. | :10:05. | |
The latest cause of turbulence on the financial markets this week is | :10:05. | :10:08. | |
the health of the Franco-Belgian bank, Dexia. The French government | :10:08. | :10:11. | |
has confirmed that details of a rescue plan will be announced | :10:11. | :10:14. | |
tomorrow. Activists have been protesting outside the bank's | :10:14. | :10:16. | |
Belgian headquarters, as the makings of a deal emerge involving | :10:16. | :10:19. | |
a French government fund stepping in to guarantee deposits and take | :10:19. | :10:28. | |
over most of the bank's activities. The signs of a deal for Dexia have | :10:28. | :10:30. | |
reassured the financial markets, along with hopes that European | :10:30. | :10:32. | |
leaders are considering stronger coordinated action to bolster the | :10:32. | :10:41. | |
banking system. In London, the FTSE 100 index closed up more than 3%. | :10:41. | :10:46. | |
In France, the CAC 40 was up more than 4%. And in Germany, the DAX | :10:46. | :10:52. | |
also closed up, by almost 5%. Our economics editor, Stephanie | :10:52. | :11:00. | |
Flanders, is here. They have clearly reassured the | :11:00. | :11:07. | |
markets but surely, the anxiety of a debt is still there. It is | :11:07. | :11:11. | |
something that was in David Cameron's speech, this is not a | :11:11. | :11:14. | |
normal recovery and the amount of debt around the world has a lot to | :11:14. | :11:18. | |
do with that. It has a lot to do with the eurozone crisis, we are | :11:18. | :11:22. | |
constantly talking about the debts of governments and that banks hold, | :11:22. | :11:27. | |
and that is why the markets went up to date, with the expectation that | :11:27. | :11:32. | |
they would get more capital. And it is why it has been difficult to get | :11:32. | :11:36. | |
a decent recovery in the UK. We have seen today it is even harder | :11:36. | :11:39. | |
than we thought. Households and governments are sitting on debts | :11:39. | :11:43. | |
they don't want to have, the appetite for spending is very weak. | :11:43. | :11:47. | |
The tussle over whether or not the Prime Minister was asking people to | :11:47. | :11:51. | |
pay off their credit cards got to the heart of the argument. Ed Balls | :11:51. | :11:55. | |
says the answer is for government to borrow more, to make up the | :11:55. | :11:59. | |
shortfall when nobody else wants to spend. David Cameron and maybe the | :11:59. | :12:03. | |
German government say, it is going to be tough, but you don't fix a | :12:03. | :12:07. | |
debt crisis by running up more debt. How likely is it that the Bank of | :12:07. | :12:11. | |
England will step in again tomorrow and take action? There has been a | :12:11. | :12:14. | |
change in the economic weather and a few months ago I would have said | :12:14. | :12:19. | |
very unlikely. Now I would say it is maybe as good as 50-50. A very | :12:19. | :12:23. | |
strong chance it will do so, if not tomorrow, maybe next month. We may | :12:23. | :12:27. | |
even get a rate cut from the European Central Bank tomorrow, | :12:27. | :12:31. | |
when they were raising rates only a few months ago. Even there, there | :12:31. | :12:35. | |
is a feeling that even central banks are beginning to run out of | :12:35. | :12:38. | |
ammunition in the face of this difficult economic situation, and | :12:38. | :12:42. | |
that is why we heard George Osborne took about completely new ways of | :12:42. | :12:48. | |
supporting lending for businesses - - small businesses on Monday. | :12:48. | :12:55. | |
Policy makers are still grasping around for solutions. Thank you. | :12:55. | :12:58. | |
Two Pakistan cricketers have gone on trial in London, accused of | :12:58. | :13:01. | |
accepting bribes to bowl deliberate no-balls during last year's tour of | :13:01. | :13:03. | |
England. The fast bowler, Mohammad Asif, and the former captain, | :13:03. | :13:06. | |
Salman Butt, are charged with consipracy to cheat and to accept | :13:06. | :13:10. | |
corrupt payments. They both deny the charges. Our sports editor, | :13:10. | :13:20. | |
:13:20. | :13:20. | ||
Two of Pakistan's best known cricketers on trial and accused of | :13:20. | :13:26. | |
accepting bribes to delib ratly bowl no-balls. | :13:26. | :13:30. | |
Salman Butt, the country's former Test captain and fast bowler, | :13:30. | :13:34. | |
Mohammad Asif are charged with involved in an international plot | :13:34. | :13:39. | |
to fix parts of last year's Test Match against England at Lords. The | :13:39. | :13:45. | |
pair showed no emotion in the dock today as the prosecution told | :13:45. | :13:48. | |
Southwark Crown Court that their charges represented a depressing | :13:48. | :13:51. | |
tale of rampant corruption at the heart of cricket. | :13:51. | :13:56. | |
It is alleged that this man, the sports agent, Mazhar Majeed was the | :13:56. | :14:02. | |
link between the team and betting syndicates worth �40 to �50 billion | :14:02. | :14:07. | |
a year. He is said to have told an undercover journalist the price for | :14:07. | :14:13. | |
picksing matches was �10,000 for a no ball. �400,000 for a Twenty20 | :14:13. | :14:19. | |
match and �1 million for a Test Match. He is said to have boosted, | :14:19. | :14:22. | |
"I have been doing it with them for about two-and-a-half years and | :14:22. | :14:24. | |
we've made masses and masses of money." | :14:24. | :14:30. | |
The court also heard that the young bowler, Mohammad Amir was | :14:30. | :14:35. | |
implicated and was read text messages which appeared to show him | :14:35. | :14:39. | |
receiving directions of when to fix parts of an earlier Test Match at | :14:39. | :14:44. | |
the Owe value. These are the first cricketers to face criminal | :14:44. | :14:46. | |
corruption charges in this country. The prosecution says their | :14:46. | :14:51. | |
involvement in a plot to bowl deliberate no-balls at Lords not | :14:51. | :14:58. | |
only contaminate that had match, but was a betrayal of cricket. | :14:58. | :15:05. | |
Mohammad Asif insists the no-balls were just chance. Butt said they | :15:05. | :15:10. | |
were freakish occurrencances. This trial is set to put cricket's | :15:10. | :15:18. | |
Coming up on tonight's programme: Step forward - the self-styled lord | :15:18. | :15:23. | |
who conned the rich and famous out of millions of pounds. Looking back | :15:23. | :15:29. | |
I was incredibly naive, but other people were just as naive as me | :15:29. | :15:37. | |
because all of us got stung the Scientists in New York say they are | :15:37. | :15:40. | |
a step closer to creating what are called personalised stem cells | :15:40. | :15:44. | |
which could help treat a range of diseases. The technique involves | :15:44. | :15:48. | |
taking a human egg and combining it with a cell from another person - | :15:48. | :15:51. | |
potentially someone who needs treatment. David Shukman explains | :15:51. | :16:01. | |
Stem cells in close-up. Strange shapes with huge potential, in | :16:01. | :16:05. | |
theory, able to repair almost any part of the body. The big challenge | :16:05. | :16:11. | |
is making them. This lab in New York has announced a new technique. | :16:11. | :16:15. | |
A version of cloning using human eggs. Sensitive work, they wouldn't | :16:15. | :16:20. | |
let us film, this is their video, but the research published in the | :16:20. | :16:23. | |
journal Nature spells out what they have achieved. The researchers say | :16:23. | :16:32. | |
their new approach could lead to tailor-made stem cells. They took | :16:32. | :16:38. | |
human human eggs and left the human DNA inside. Egg cells were | :16:38. | :16:42. | |
triggered into multiplying. The result, stem cells with the | :16:42. | :16:45. | |
potential to develop in different ways. A step forward on a very long | :16:45. | :16:51. | |
road. We now know that human eggs have | :16:51. | :16:56. | |
the ability to turn a specialised cell into a stem cell and this stem | :16:56. | :17:02. | |
cell can give rise to brain cells which is amazing. | :17:02. | :17:08. | |
The goal in labs around the world is personalised stem cells, to | :17:08. | :17:13. | |
tackle anything from Alzheimer's to bone disease to heart failure, but | :17:13. | :17:17. | |
the science is difficult. Progress is uncertain. There is the risk of | :17:17. | :17:21. | |
hype. This new development is welcomed, but with caution. | :17:21. | :17:26. | |
The work seems to have been done fine, I have no criticisms, but it | :17:26. | :17:31. | |
depends on not just peer review, this was peer review, but on | :17:31. | :17:36. | |
repetition. If other scientists can do it then I'll believe it. | :17:36. | :17:40. | |
This is a controversial field with very high stakes. | :17:40. | :17:47. | |
A few years ago this Korean researcher was exposed for faking | :17:47. | :17:51. | |
results about embryonic stem cells. Finding a reliable way of making | :17:51. | :17:56. | |
them is inching closer. But science advance is unpredictable. No one | :17:56. | :18:00. | |
can tell when the work in New York will lead to help for patients, but | :18:00. | :18:07. | |
it is seen as a significant step In Seattle, the father of Amanda | :18:07. | :18:10. | |
Knox has told the BBC tonight that she is looking forward to | :18:10. | :18:16. | |
rebuilding her life following her release from prison in Italy. | :18:16. | :18:19. | |
Arriving home, Amanda Knox said she was "overwhelmed" after spending | :18:19. | :18:22. | |
four years in jail for the murder of British student Meredith Kercher. | :18:22. | :18:26. | |
Her father said they will need to take things slowly. Our focus is to | :18:26. | :18:31. | |
allow her to kind of readjust to life outside of prison and let her | :18:31. | :18:34. | |
do some of the things that she hasn't had an opportunity to do. I | :18:34. | :18:38. | |
mean some of the simplest things that we take for granted like you | :18:38. | :18:41. | |
know, just walking on the grass in your bare feet or something like | :18:41. | :18:49. | |
that. She hasn't had a chance to do The authorities in Bahrain have | :18:49. | :18:52. | |
ordered a retrial for 20 doctors and nurses convicted of helping | :18:52. | :18:56. | |
anti-government protesters. It follows an international outcry | :18:56. | :18:59. | |
after a military court sentenced the group to up to 15 years in | :18:59. | :19:04. | |
prison for treating those injured during recent unrest. The retrial | :19:04. | :19:14. | |
In Libya, local leaders in the towns that rebelled against Colonel | :19:14. | :19:16. | |
Gaddafi are now jostling for position in the new interim | :19:16. | :19:18. | |
Government. The administration will be formally installed once Colonel | :19:18. | :19:21. | |
Gaddafi's hometown of Sirte is captured, but there are fears that | :19:21. | :19:24. | |
the process will be hampered by political infighting. Our | :19:24. | :19:27. | |
correspondent, Damian Grammaticas, has travelled to three areas at the | :19:27. | :19:30. | |
heart of the fight for the new Libya and he started his journey in | :19:30. | :19:40. | |
:19:40. | :19:43. | ||
They have carried the flag of Libya's revolution from the start. | :19:43. | :19:50. | |
It is mountain's people, proud horsemen and warriors celebrating | :19:51. | :19:56. | |
their new-found freedom. Zintan was one of the first places to rise up | :19:56. | :19:59. | |
against Colonel Gaddafi and sacrificed much to oust him. | :20:00. | :20:05. | |
This town of 50,000 lost 250 of its men and its fighters continue to | :20:05. | :20:11. | |
die in battles across the country. Now Zintan wants a slice of power | :20:11. | :20:15. | |
in the new Libya. Its elders say two ministers in the Cabinet should | :20:15. | :20:22. | |
come from their town. The major rule and the liberation | :20:22. | :20:29. | |
of the country, you have to have as they used to say a good piece of | :20:29. | :20:34. | |
the cake. Hundreds of miles away, the | :20:34. | :20:39. | |
battered city of Misrata believes it too should be rewarded. So | :20:39. | :20:42. | |
Libya's political battles are beginning. | :20:42. | :20:47. | |
A lot of people died here in this street. | :20:47. | :20:51. | |
Abdulbaset Al-Haddad helped lead the revolution this this city. Many | :20:51. | :20:55. | |
here believe they should have a greater say in Libya's future than | :20:55. | :21:01. | |
towns that did not suffer as much. 1,500 of Misrata's people died | :21:01. | :21:07. | |
fighting off Gaddafi's tanks. Misrata is putting forward its own | :21:07. | :21:11. | |
candidate for Prime Minister and as the arguments begin, it isn't | :21:11. | :21:18. | |
giving up its weapons just yet. TRANSLATION: It is too early. After | :21:18. | :21:25. | |
what Gaddafi's troops did, no Misrati wants to give up his his | :21:25. | :21:28. | |
weapons until there is a united Government. | :21:28. | :21:33. | |
But in Tripoli there is no national Government. One won be formed until | :21:33. | :21:37. | |
Gaddafi's hometown of Sirte falls. Libya has weeks of political | :21:37. | :21:42. | |
uncertainty to come. This is where Libya's tribal | :21:42. | :21:48. | |
leaders used to meet, deciding who gets what share of the spoils of | :21:48. | :21:53. | |
the power is not easy. After 42 years of dictatorship, there is a | :21:53. | :21:58. | |
sense of solidarity here. People want this revolution to work. | :21:58. | :22:01. | |
They're determined to build a new democracy. | :22:01. | :22:07. | |
The problem is, they've chased away Gaddafi, but he has left behind a | :22:07. | :22:11. | |
Libya where no one knows how to share power, even while they are | :22:11. | :22:21. | |
The former England fast bowler, Graham Dilley, who played an | :22:21. | :22:24. | |
important role in the team's famous Ashes victories of the 1980s has | :22:24. | :22:28. | |
died at the age of 52 after a short illness. His career is perhaps best | :22:28. | :22:31. | |
remembered for the stand of 117 shared with Ian Botham in the 1981 | :22:31. | :22:34. | |
Test against Australia at Headingley. His former team-mate | :22:34. | :22:37. | |
described him as "a fantastic cricketer" and a "good bloke to be | :22:37. | :22:44. | |
Tributes have been paid to one of the most influential musicians of | :22:44. | :22:54. | |
:22:54. | :22:57. | ||
his generation, Bert Jansch. He was Bert Jansch came to prominence | :22:57. | :23:00. | |
during the British Folk Revival in the 1960s. He was a major influence | :23:00. | :23:04. | |
on Paul Simon and guitarist Jimmy Page. Johnny Marr, of The Smiths, | :23:04. | :23:06. | |
said Jansch had set a standard in guitar playing that remained | :23:06. | :23:16. | |
Edward Davenport, a businessman who conned people out of millions of | :23:16. | :23:19. | |
pounds while enjoying an opulent lifestyle has been jailed for more | :23:19. | :23:22. | |
than seven years. The man who styled himself "Lord Davenport", | :23:22. | :23:25. | |
set up a company that claimed to have 50 years experience in | :23:25. | :23:28. | |
organising high-value loans, but his customers, despite paying huge | :23:28. | :23:38. | |
:23:38. | :23:40. | ||
fees, never received their money as Photos from the album of Edward | :23:40. | :23:44. | |
Davenport who calls himself a lord and loves to boast about the film | :23:44. | :23:49. | |
stars, rock stars and royalty who have partied at his mansion in | :23:49. | :23:53. | |
Central London. I'm Edward Davenport. Welcome to my | :23:53. | :23:58. | |
website. His home was the location for films like the Oscar winning, | :23:58. | :24:05. | |
The King's Speech. His venture into loans anything but legitimate. | :24:05. | :24:11. | |
The court heard between 2007 and 2009 alone, Davenport's firm | :24:12. | :24:17. | |
Gresham offered to loan �0.5 billion in return for a series of | :24:17. | :24:21. | |
advanced security deposits. Not a single penny was ever paid out. It | :24:21. | :24:25. | |
is a practise known as advance fee fraud. | :24:25. | :24:31. | |
In court, the prosecutor said that Gresham's public image was false. | :24:31. | :24:35. | |
Essentially worthless. Its only business was fraud. | :24:35. | :24:39. | |
Elizabeth Emanuel, who designed the wedding dress for Diana, Princess | :24:39. | :24:44. | |
of Wales, was one of Davenport's victims. She lost �5,000 on the | :24:44. | :24:49. | |
promise of a loan of �200,000. Here is this website with pictures | :24:49. | :24:54. | |
of Edward Davenport with very famous people. A lot of them very | :24:55. | :24:59. | |
credible peoplement the list goes on and on. There is nobody that | :24:59. | :25:03. | |
hasn't been photographed with Edward Davenport. | :25:03. | :25:07. | |
The Fraud office says she was one of over 50 victims who between them | :25:08. | :25:13. | |
paid out �4.5 million. We had victims who had nervous | :25:13. | :25:17. | |
breakdowns. Others resulted in bankruptcy and in short, numerous | :25:17. | :25:20. | |
people have had their life savings stripped away from them as a result | :25:21. | :25:25. | |
of this enterprise. The man who promoted his celebrity | :25:25. | :25:29. | |
connections, was described by the fraud office as cynical, bogus and | :25:29. | :25:39. | |
:25:39. | :25:40. |