Browse content similar to 19/06/2013. Check below for episodes and series from the same categories and more!
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Furness General Hospital have demanded resignations. I felt | :00:24. | :00:28. | |
physically ill when I read about the cover-up. That's still an outrageous | :00:28. | :00:33. | |
thing. I'm deeply disappointed and extremely sorry we performed so | :00:33. | :00:37. | |
badly. Ministers say there will be no hiding place for those involved. | :00:37. | :00:43. | |
Also tonight: The Chancellor tells the City of London he is actively | :00:43. | :00:49. | |
considering returning Lloyds Bank into private hands. Five years on | :00:49. | :00:53. | |
from the financial crisis, we can take the first steps to returning | :00:53. | :00:57. | |
Lloyds to the private sector, where it belongs. Following in the | :00:57. | :01:02. | |
footsteps of JFK, President Obama speaks at the Brandenburg gate in | :01:02. | :01:06. | |
Berlin. More violence in Brazil, as people | :01:06. | :01:10. | |
protest about the rising costs and the bill of hosting next year's | :01:10. | :01:15. | |
World Cup. And South African wickets tumble as England march into the | :01:15. | :01:22. | |
final of the ICC Champions' Trophy. In sportsday: Administrators are | :01:22. | :01:27. | |
confident of buying a buyer for Scottish league club Hearts, despite | :01:27. | :01:32. | |
debts of �25 million and a 15 point debts of �25 million and a 15 point | :01:32. | :01:42. | |
:01:42. | :01:51. | ||
Good evening. The Health Secretary has apologised for what he described | :01:52. | :01:55. | |
as the appalling suffering caused by failings at the health watchdog for | :01:55. | :01:59. | |
England. The Care Quality Commission gave the all-clear to a hospital in | :01:59. | :02:03. | |
Cumbria, where there had been a series of baby deaths, and then | :02:03. | :02:10. | |
covered up its own failings. Furness General Hospital has a | :02:10. | :02:14. | |
troubled history. Five babies born in the maternity unit here died. Yet | :02:15. | :02:18. | |
in 2010, the Care Quality Commission, the regulator, told | :02:18. | :02:21. | |
patients this hospital was safe. That was a mistake and one the | :02:21. | :02:26. | |
regulator tried to cover up. That that review found serious | :02:26. | :02:30. | |
problems... James has been fighting to expose the truth since the death | :02:30. | :02:36. | |
of his baby son, Joshua, in 2008. Even he has been shocked by today's | :02:36. | :02:40. | |
damning report. Whilst I think I recognise that there were obviously | :02:40. | :02:45. | |
failures in the regulation, I didn't realise the extent and, you know, | :02:45. | :02:49. | |
it's no exaggeration, I felt physically ul when I read about the | :02:49. | :02:53. | |
cover-up. -- physically ill. That was such an outrageous thing to have | :02:53. | :02:57. | |
happened. The report makes grim reading for the Care Quality | :02:57. | :03:01. | |
Commission. It talks of questionable decision-making by the regulator and | :03:01. | :03:05. | |
be finds evidence of a deliberate cover-up of a critical internal | :03:05. | :03:09. | |
review. One senior manager talking about that review, is said to have | :03:09. | :03:13. | |
told a colleague, "Are you kidding me, this can never be in the public | :03:13. | :03:18. | |
domain, read my lips." Whistleblowers who tried to expose | :03:18. | :03:22. | |
failings were victimised, Kay Sheldon was one and endured | :03:22. | :03:25. | |
sustained personal attacks. I have been subjected to the most appalling | :03:25. | :03:31. | |
treatment. I'm not going to say any more about it. I think it should - | :03:31. | :03:35. | |
that in itself should shame the organisation and indeed higher. | :03:35. | :03:41. | |
There has already been a management clearout of the trust that runs | :03:42. | :03:45. | |
Furness General and at the Care Quality Commission but one criticism | :03:45. | :03:50. | |
of today's report is that no individuals are named so it is | :03:50. | :03:53. | |
impossible to hold anyone accountable. People say that is a | :03:53. | :03:58. | |
big problem for the NHS, and it continues to fail to learn from past | :03:58. | :04:01. | |
mistakes. The Chief Executive left the CQC | :04:01. | :04:06. | |
last year. It was up to the new Chairman to offer this accessment of | :04:06. | :04:10. | |
the organisation he now leads. was a damning report. We were a | :04:10. | :04:16. | |
dysfunctional organisation back in 2010, when we registered more calm | :04:16. | :04:21. | |
Bay Hospital I'm deeply disappointed and extremely sorry we performed so | :04:21. | :04:24. | |
badly. This is the not first time the regular lutor has found itself | :04:24. | :04:29. | |
in trouble. Its handling of scandals at the Winterborne View care home | :04:29. | :04:33. | |
and Stafford Hospital were severely criticised. In the House of Commons, | :04:33. | :04:36. | |
the hath secretary, said wider cultural changes were needed across | :04:36. | :04:42. | |
the NHS in England The events in Morcambe Bay, Mid Staffs and many | :04:43. | :04:47. | |
other hospitals should never have been covered up. But they should | :04:47. | :04:51. | |
never happened in the first place. To prevent such tragedies we need to | :04:51. | :04:56. | |
transform the approach tosh patient safety in our NHS. -- to patient | :04:56. | :05:06. | |
:05:06. | :05:07. | ||
safety. Today report talks of an organisation... These are issues | :05:07. | :05:10. | |
that will trouble health service leaders and their bosses. | :05:10. | :05:15. | |
Watching that with me is our health correspondent Branwen Jeffreys. | :05:15. | :05:19. | |
Let's talk about the credibility of this organisation. How can people | :05:19. | :05:24. | |
have faith it is doing the right job? Well, very serious questions | :05:24. | :05:28. | |
about how this organisation has been run and the culture within it. Kay | :05:28. | :05:31. | |
Sheldon was there describing as "shameful." It was a new | :05:31. | :05:35. | |
organisation at the time, taking on a lot of jobs, inspecting hospitals, | :05:35. | :05:39. | |
inspecting care homes, trying also to inspect GPs and dentists, to get | :05:39. | :05:44. | |
that process under way. This isn't the first report to point out that | :05:44. | :05:49. | |
it badly lost its focus. The focus on putting patients first and making | :05:49. | :05:52. | |
sure people are safe if they are in hospital. It let down some families, | :05:52. | :05:56. | |
not just in failing to pick up on this but in not being honest about | :05:56. | :06:00. | |
what it had done wrong. There is, however a top leadership team, a bit | :06:00. | :06:04. | |
of a sense that they are focussing on what really matters to the public | :06:04. | :06:08. | |
and to patients. A promise of more specialist inspectors to go into | :06:08. | :06:13. | |
hospitals. But tonight there remains that question about accountability. | :06:13. | :06:17. | |
The QCQ says it has had legal advice around data protection, which means | :06:17. | :06:21. | |
it can't name the managers who were involved in these failings. Many MPs | :06:21. | :06:24. | |
are questioned that today and I think it is going to come under | :06:25. | :06:28. | |
considerable pressure to justify that position, if it wants to | :06:28. | :06:31. | |
restore confidence, in its promise of being an open and trustworthy | :06:32. | :06:36. | |
regulator. Thank you very much. | :06:36. | :06:40. | |
Now the Government is ready to start selling its shares in Lloyds Banking | :06:40. | :06:43. | |
Group and will examine whether to break up Royal Bank of Scotland, | :06:43. | :06:46. | |
according to the Chancellor, George Osborne. He's been delivering his | :06:46. | :06:50. | |
annual Mansion House speech in the City of London. Earlier today, David | :06:50. | :06:53. | |
Cameron said he supported a call for new legislation allowing criminal | :06:53. | :06:57. | |
charges to be brought against senior bankers, guiltedy of misconduct. | :06:57. | :07:05. | |
-- guilty. Austerity, no the in the City's most | :07:05. | :07:09. | |
elegant building, the Mansion House, where the Chancellor, and the | :07:09. | :07:11. | |
Governor of the Bank of England, arrived to give their annual | :07:11. | :07:17. | |
speeches. And what they heard from George Osborne was a tale of two | :07:17. | :07:21. | |
semi-nationalised banks. First, the Royal Bank of Scotland. I will only | :07:21. | :07:26. | |
sell our stake in RBS when we feel the bank is fully able to support | :07:26. | :07:32. | |
our economy, and when we get good value for you, the taxpayer. In our | :07:32. | :07:38. | |
judgment, when it comes to RBS, that moment is some way off. And then, a | :07:38. | :07:43. | |
different story at Lloyds. Five years on, from the financial crisis, | :07:43. | :07:47. | |
we can now take the first steps to returning Lloyds to the private | :07:47. | :07:52. | |
sector, where it belongs. Lloyds privatisation could begin in the | :07:52. | :07:55. | |
autumn, with the first sell-off of shares to investment institutions. | :07:55. | :08:04. | |
But the RBS sale will probably be after the 2015 election. And huge | :08:04. | :08:08. | |
RBS maybe broken up into a good bank, and a bad bank, if that's | :08:08. | :08:13. | |
right for Britain. The last Government invested more than �65 | :08:13. | :08:18. | |
billion into saving Lloyds and RBS during the great banking crisis. | :08:18. | :08:21. | |
What does a member of that Government make of their new paths | :08:21. | :08:26. | |
back to the private sector? chance can get Lloyds back at a | :08:26. | :08:30. | |
profit. That's a good thing, so long as we get bank lending moving. As | :08:30. | :08:33. | |
for Royal Bank of Scotland, for weeks we've been told the Chancellor | :08:33. | :08:37. | |
was going to rush for a quick-fire sale. The taxpayer would have lost. | :08:37. | :08:40. | |
It would have been bad for the economy. He should do it properly. | :08:40. | :08:48. | |
I'm pleased he has backed down. Silence for the govern Governor of | :08:48. | :08:51. | |
the Bank of England, Sir Mervyn King. And as for the soon to retire | :08:51. | :08:57. | |
Bank of England governor, he is being ennobled, his passing shot - | :08:57. | :09:02. | |
that rehabilitating the banks is work in progress Governments, | :09:02. | :09:05. | |
regulators, prosecutors and non-executive directors have all | :09:05. | :09:09. | |
struggled to come to terms with firms that pose a risk to tax | :09:09. | :09:14. | |
payers, cannot be prosecuted because of their systemic importance and are | :09:14. | :09:20. | |
difficult to manage because of their size and complexity. It isn't in our | :09:20. | :09:25. | |
national interest to have banks that are too big to fail, too big to | :09:25. | :09:32. | |
jail, or simply too big. If the governor wants misbehaving bankers | :09:32. | :09:38. | |
put in prison, an influential banking commission on banking | :09:38. | :09:42. | |
standards agrees. It wants a criminal offence of reckless | :09:42. | :09:47. | |
misconduct created for bankers. the moment bankers are incentivised, | :09:47. | :09:51. | |
sometimes, to take huge risks. In a sense it is a one-way bed. If things | :09:51. | :09:56. | |
go well, they pick up huge bonuses. If things go badly they don't have | :09:56. | :10:00. | |
their shirts on the line, they can more or less walk away. That has to | :10:00. | :10:05. | |
stop. Will the threat of jail for bankers work? I think if criminal | :10:05. | :10:10. | |
conviction had been on the table in the '90s and '2,000s, probably quite | :10:10. | :10:15. | |
a few of the British banks who are no longer with us or are no longer | :10:15. | :10:20. | |
independent would be here as stand-alone units. In the banking | :10:20. | :10:24. | |
commission's report, there are many over reforms, such as dishing out | :10:24. | :10:30. | |
bonuses over as long as ten years, claiming back big pay and pensions | :10:30. | :10:35. | |
from bosses when tax payers rescue their banks and, on another tack, | :10:35. | :10:38. | |
sharpening competition between the banks. We've been in something of a | :10:38. | :10:43. | |
stormy marriage with the big banks, whose home is over there in the City | :10:43. | :10:46. | |
in Canary Wharf. We can't live without them, but in recent years, | :10:46. | :10:53. | |
living with them has been horrendously painful. Just possibly, | :10:53. | :10:55. | |
the proposals of the banking commission, will make them behave | :10:56. | :11:02. | |
just a little bit better. Providers of the Government's | :11:02. | :11:06. | |
flagship Work Programme have warned ministers the costs of helping sick | :11:06. | :11:10. | |
and disabled job seekers to find jobs can't be met under the scheme. | :11:10. | :11:13. | |
New figures, seen by the BBC, show overall a third of people who have | :11:13. | :11:16. | |
been on the scheme for the a least a year have started a job but among | :11:16. | :11:21. | |
the most challenging group, those claiming Employment and Support | :11:21. | :11:31. | |
:11:31. | :11:32. | ||
Allowance, only 10% have found work. This group includes some of the more | :11:32. | :11:34. | |
challenging people referred to the Work Programme from the West | :11:34. | :11:38. | |
Midlands. Some, like Julia, who suffers from clinical depression and | :11:38. | :11:42. | |
anxiety, and who have not had a job for over 30 years. Getting her to | :11:42. | :11:47. | |
the point where she can attend an interview has already taken over 12 | :11:47. | :11:52. | |
months. I was a total wreck. I would cry all day every day, literally. | :11:52. | :11:56. | |
does take time, doesn't it? It takes a heck of a long time to get through | :11:56. | :12:00. | |
it. It does take time. But unless the Government is willing to help, | :12:01. | :12:06. | |
people like me, and others, aren't going to have that support. Among | :12:06. | :12:09. | |
sick and disabled job seekers, referred to the Work Programme, only | :12:09. | :12:13. | |
one in ten has even started a job. Providers have told Government they | :12:13. | :12:18. | |
need money from health and skills' budgets, channelled into supporting | :12:18. | :12:23. | |
the scheme You need more money to make it stick, to make it count and | :12:23. | :12:29. | |
sustainable. Should nted you have worked this out before you agreed | :12:29. | :12:33. | |
the contract? What we do works and we want it sustain it but we want | :12:33. | :12:38. | |
the numbers to stack up. Helping people with these issues into work | :12:38. | :12:42. | |
is central to the Government's welfare philosophy. The fact that | :12:42. | :12:45. | |
providers are saying they can't do it without more money is a setback | :12:45. | :12:49. | |
for this flagship scheme. We are seeing three-quarters of people have | :12:49. | :12:53. | |
gone through this programme and aren't shop starting a job, never | :12:53. | :12:57. | |
mind staying in one. It is obvious the system is broken and needs to be | :12:57. | :13:02. | |
fixed. The department for Work and Pensions says the payment by results | :13:02. | :13:06. | |
contracts agreed with Work Programme providers, already give them a clear | :13:06. | :13:12. | |
financial incentive to sport hardest to help into work. A Government | :13:12. | :13:16. | |
advisor says more money isn't the answer Every month the result is | :13:16. | :13:20. | |
getting better. It is still only two years old. It is a major change in | :13:20. | :13:23. | |
the way we run welfare-to-work programmes. I this I it is premature | :13:23. | :13:27. | |
to say it is more money. More money is the easy call. I'm not convinced | :13:27. | :13:31. | |
that's what we need. Annie is one of the success stories. After years on | :13:32. | :13:34. | |
sickness benefit and with the support of the programme, she's | :13:34. | :13:38. | |
support of the programme, she's finally got a job in a warehouse. | :13:38. | :13:44. | |
can't tell you how I felt. I broke down, when I got in. My kids are | :13:44. | :13:48. | |
absolutely thrilled to bits and everything, you know. I couldn't | :13:48. | :13:54. | |
believe I'd done it. I sat down, after I calmed down. And I was like | :13:54. | :13:58. | |
- I could have done this a long time ago. It is people like Annie, who | :13:58. | :14:02. | |
drive many Work Programme providers to make a difference. What the | :14:02. | :14:06. | |
interviewer doesn't want you to do is waffle on... Today is the first | :14:06. | :14:09. | |
time it'll question whether they can deliver what the Government is | :14:09. | :14:15. | |
deliver what the Government is asking. Nigel Evans, Deputy Speaker | :14:15. | :14:18. | |
of the House of Commons, has been arrested on suspicion of three | :14:18. | :14:21. | |
counts of indecent assault. He had already been arrested and bailed | :14:21. | :14:26. | |
last month on suspicion of rape and sexual assault. Mr Evans said today | :14:26. | :14:30. | |
he continued to refute all allegations. | :14:30. | :14:32. | |
President Obama has followed in the footsteps of President John F | :14:33. | :14:36. | |
Kennedy by delivering a major speech at the Brandenburg Gate on a visit | :14:36. | :14:40. | |
to Berlin. Mr Obama renewed his call for greater efforts to limit the | :14:40. | :14:44. | |
spread of nuclear weapons. He was speaking almost exactly half a | :14:44. | :14:48. | |
century after JFK's famous address at the height of the Cold War. From | :14:49. | :14:57. | |
Berlin, our North America editor Mark Mardell reports. | :14:57. | :15:00. | |
President Obama inspected the troops in a city that has known too much | :15:00. | :15:07. | |
war. He says Burling is a symbol of hope. At the Brandenburg gate, he | :15:07. | :15:12. | |
even got a cheer for taking off his coat. I feel so good I will actually | :15:12. | :15:19. | |
take off my jacket! There was a lot of exhortation. Speaking from behind | :15:19. | :15:24. | |
bullet-proof glass, he said the city stood for all the walls that still | :15:24. | :15:28. | |
had to be torn down. Because millions across the continent | :15:28. | :15:33. | |
breathe the fresh air of freedom, we can say in Europe that our values | :15:33. | :15:41. | |
won, openness, tolerance, and freedom won, here in Berlin. He said | :15:41. | :15:44. | |
America and Europe still had to act together, helping people in the Arab | :15:44. | :15:51. | |
world, Burma and Afghanistan. These are the citizens who want to | :15:51. | :15:56. | |
join the free world. They are who you were, they deserve our support. | :15:56. | :16:03. | |
For they also in their own way citizens of Berlin. He echoed John | :16:04. | :16:07. | |
Kennedy's famous words when he visited the city 50 years ago. | :16:07. | :16:15. | |
bin ein Berliner. The future President Obama promised today was | :16:15. | :16:19. | |
similar to the one he outlined five years ago as a candidate. The bull | :16:19. | :16:23. | |
who packed the streets before are not allowed anywhere near because of | :16:23. | :16:30. | |
the security -- the people. This is a president with problems rather | :16:30. | :16:34. | |
than a candidate with promise. At the news conference with Angela | :16:34. | :16:40. | |
Merkel he faced ethical questions, one on the Afghans decisions to pull | :16:41. | :16:46. | |
out of negotiations -- he faced some difficult questions. We had | :16:46. | :16:50. | |
anticipated that at the outset, there were going to be some areas of | :16:51. | :16:56. | |
friction to put it mildly in getting this thing off of the ground. That | :16:56. | :17:00. | |
is not surprisingly. As I said, they have been fighting for a very long | :17:00. | :17:06. | |
time. And once Syria he refused to say what help America is sending the | :17:06. | :17:14. | |
rebels. He is better at outlining the world he wants rather than | :17:14. | :17:17. | |
describing how best to get there. Brazil's government says it will | :17:17. | :17:21. | |
deploy a national security force to five major cities after a wave of | :17:21. | :17:24. | |
protests involving a quarter of a million people. Rising transport | :17:24. | :17:27. | |
costs and the projected bill for hosting next year's football World | :17:27. | :17:31. | |
Cup are some of the causes of the demonstrations. Protests have | :17:31. | :17:35. | |
erupted in at least a dozen cities across the country. Last night, Sao | :17:35. | :17:40. | |
Paulo alone saw 50,000 people take to the streets. And there have been | :17:40. | :17:44. | |
violent clashes in other cities, including Rio. The five cities where | :17:44. | :17:47. | |
security forces are being deployed include Fortaleza. From Brazil, | :17:47. | :17:54. | |
Alistair Leithead reports. This was supposed to be Brazil's | :17:55. | :18:00. | |
shoving the world how well things were going ahead of next year's | :18:00. | :18:05. | |
World Cup. Nobody expected this. Hundreds of thousands have come out | :18:05. | :18:11. | |
to protest. This is Fortaleza in the north-east, where Brazil play Mexico | :18:11. | :18:17. | |
tonight in FIFA's Confederations Cup. Images of the way police | :18:17. | :18:19. | |
responded to demonstrators, including a video which activists | :18:19. | :18:25. | |
says show a journalist being beaten up, went viral. While most were | :18:25. | :18:31. | |
peaceful, some attacked government buildings. In the capital Brasilia, | :18:31. | :18:36. | |
protesters reached the roof of the Congress building. There have not | :18:36. | :18:41. | |
been mass street demonstrations on this scale in Brazil for 20 years. | :18:41. | :18:46. | |
The protest started over plans to increase the bus fare by just a you | :18:46. | :18:51. | |
p. The dispute suddenly escalated. The heavy-handed response of the | :18:51. | :18:59. | |
police governor to people -- by just a few pennies. | :18:59. | :19:07. | |
For many people with many different grievances, it became a sudden | :19:07. | :19:11. | |
opportunity to voice previously unspoken discontent. Parallels have | :19:11. | :19:17. | |
been drawn to the way the Occupy movement started in Britain and | :19:17. | :19:24. | |
America. When people start to enjoy the movement and socialise in the | :19:24. | :19:33. | |
public space, to see what is going on and to participate, sometimes for | :19:33. | :19:36. | |
the first time. Federal police special forces are now being | :19:36. | :19:40. | |
deployed in five cities in an attempt to stop the protests from | :19:40. | :19:44. | |
escalating and the crowds are swelling again tonight. | :19:44. | :19:47. | |
The Supreme Court has ruled that the families of soldiers killed and | :19:47. | :19:50. | |
wounded in two separate incidents in Iraq can sue the Ministry of | :19:50. | :19:55. | |
Defence. They include the cases of three men who died while travelling | :19:55. | :19:59. | |
in lightly-armoured Snatch Land Rovers. The judges decided that that | :19:59. | :20:02. | |
courts here did have the power to hear claims relating to foreign | :20:02. | :20:05. | |
battlefields, brought under human rights laws. Our defence | :20:05. | :20:11. | |
correspondent Caroline Wyatt reports. | :20:11. | :20:17. | |
Sue Smith and her legal team arrived at the country's highest court after | :20:17. | :20:20. | |
a five-year legal battle. Her fight began when her son, Private Phillip | :20:20. | :20:27. | |
Hewitt, was killed in Iraq in 2005, blown up as he travelled in a | :20:27. | :20:31. | |
lightly armoured Snatch Land Rover. She believes the MoD breached her | :20:31. | :20:36. | |
son's human rights and was negligent in not providing better protection. | :20:36. | :20:40. | |
Their vehicles were later replaced by more heavily armoured ones but | :20:40. | :20:44. | |
last year the Court of Appeal accepted the MoD's argument that | :20:44. | :20:53. | |
soldiers on the battlefield were beyond the reach of the human rights | :20:53. | :20:55. | |
act, which guarantees the right to life. Today Sue and Colin Redpath, | :20:55. | :20:58. | |
whose son was also killed, heard the judges disagree, saying soldiers did | :20:58. | :21:02. | |
not have human rights, even on the battlefield -- did have human | :21:02. | :21:11. | |
rights, even on the battlefield, so Sue and others like her can | :21:11. | :21:17. | |
disagree. Philip is dead but there are other boys whose lives may be | :21:17. | :21:22. | |
saved in the future so it has got to be worth it in the end. This is a | :21:23. | :21:26. | |
victory for the families who fought so hard on behalf of their brothers, | :21:26. | :21:31. | |
fathers and sons but it just means they can take their cases back to | :21:31. | :21:37. | |
the High Court. But there the MoD is likely to fight hard to restrict the | :21:37. | :21:40. | |
application of human rights law and the laws of negligence on the | :21:40. | :21:44. | |
battlefield. How concerned are about the wider implications that this | :21:45. | :21:51. | |
will have for the safety and efficiency of our forces in combat | :21:51. | :21:55. | |
in the future, and it places some very big questions about how we are | :21:55. | :22:01. | |
going to be able to engage in operations in the future. | :22:01. | :22:05. | |
Supreme Court's ruling does extend the law's reach onto the | :22:05. | :22:08. | |
battlefield, although the judges said high-level policy decisions and | :22:08. | :22:13. | |
those made in the heat of battle could not be open to challenge. But | :22:13. | :22:18. | |
for the Armed Forces, that leaves uncertainty over what this will mean | :22:18. | :22:22. | |
for soldiers and commanders in the field, even as the legal war at home | :22:22. | :22:26. | |
goes on. The chairman of the US Federal | :22:26. | :22:29. | |
Reserve has outlined his plans to slowly ease off quantitative easing | :22:29. | :22:32. | |
- that's the mechanism which injects newly-created money into the economy | :22:32. | :22:37. | |
- to try to boost growth. Ben Bernanke said the Central Bank would | :22:37. | :22:40. | |
be easing off the accelerator pedal rather than applying the brakes, as | :22:40. | :22:48. | |
he signalled a brighter outlook. Here's our economics editor. | :22:48. | :22:52. | |
For years, global investors have trusted the head of the US central | :22:52. | :22:57. | |
bank to keep the cheap money flowing. Now America's economy is on | :22:57. | :23:02. | |
the mend, everybody wants to know when and how the Fed will turn off | :23:02. | :23:07. | |
the taps. A few weeks ago Ben Bernanke appeared to suggest that | :23:07. | :23:11. | |
moment had arrived. Markets tumbled. Today he said the bank was hoping to | :23:11. | :23:16. | |
give less emergency support to the recovery from the end of the year, | :23:16. | :23:21. | |
but with this reassurance. We will provide whatever support is | :23:21. | :23:26. | |
necessary. If the economy does not improve along the lines we expect, | :23:26. | :23:34. | |
we will provide support. You might wonder why his comments should | :23:34. | :23:39. | |
matter to us. America's loose money policy has been a big factor pulling | :23:39. | :23:44. | |
down our interest rates since 2008. Those long-term borrowing costs are | :23:44. | :23:49. | |
still close to record lows but the recent worries about the Fed did not | :23:49. | :23:53. | |
just push up interest rates in the US, also in Britain, and they have | :23:53. | :23:59. | |
gone up in countries like Spain that are still formally in recession. All | :23:59. | :24:04. | |
because of the Fed. We do not want markets to push up interest rates | :24:04. | :24:08. | |
too far, too fast in countries getting back on their feet, but that | :24:08. | :24:13. | |
means investors have to spot the difference. There will have to be | :24:14. | :24:18. | |
for example greater emphasis among central banks that just because one | :24:19. | :24:23. | |
of them, the Fed, is starting the process of normalising policy, it by | :24:23. | :24:29. | |
no means means the others will go down that path. In fact Mervyn King | :24:29. | :24:33. | |
has been voting for looser policy at the Bank of England for several | :24:33. | :24:39. | |
months but has been overruled. He warned again tonight that the era of | :24:39. | :24:44. | |
record low rates could not last forever. We have been leaning | :24:44. | :24:47. | |
heavily on the Fed since the financial crisis began. Now we have | :24:47. | :24:56. | |
to trust all of the world's central banks to help improve the economy. | :24:56. | :25:06. | |
:25:06. | :25:08. | ||
The court has sentenced torture and cabana, the fashion designers, to | :25:09. | :25:18. | |
prison for tax evasion -- Dolce & Gabbana. | :25:19. | :25:21. | |
The Duchess of Cambridge, who is expecting her first child next | :25:21. | :25:24. | |
month, will give birth at a private wing in St Mary's Hospital in | :25:25. | :25:28. | |
London. The Duke and Duchess of Cambridge have decided not to find | :25:28. | :25:30. | |
out beforehand if it's a boy or a girl. | :25:30. | :25:33. | |
Cricket, and England are through to the final of the ICC Champions | :25:33. | :25:36. | |
Trophy after beating South Africa comfortably in the semi-final at the | :25:36. | :25:39. | |
Oval. They bowled out the South Africans for 175 and will now play | :25:39. | :25:44. | |
India or Sri Lanka in the final on Sunday, as Joe Wilson reports. | :25:44. | :25:50. | |
Before a ball is bowled it is easy enough to stand like a giant. But | :25:50. | :26:00. | |
:26:00. | :26:05. | ||
big occasions have a habit of ripping through the South African | :26:05. | :26:09. | |
top order. But several batsmen could blame themselves, Captain a beaded | :26:09. | :26:19. | |
:26:19. | :26:22. | ||
villages in particular. -- a beaded . A triumph that South Africa | :26:22. | :26:27. | |
reached 185. The crowd relieved, at least they made a game of it. | :26:28. | :26:34. | |
Johnathon Trott turned it into a stroll. Either time he made 50, any | :26:34. | :26:41. | |
tension was eased when he hit the winning runs. He made 82 from 84 | :26:41. | :26:46. | |
balls, rampant. England home with a dozen overs to spare. Remember | :26:46. | :26:51. | |
England have never won a global 50 tournament. Now they have a final at | :26:51. | :26:56. |