:00:11. > :00:12."criminal act". Hundreds of police officers helped by local volunteers
:00:13. > :00:17.continue the search in Edinburgh as concerns grow. Mikaeel Kular has
:00:18. > :00:27.been missing since Wednesday night when his mother put him to bed. He
:00:28. > :00:31.is in my son's class. I can't imagine going through that, getting
:00:32. > :00:37.up and not finding him. It is just awful. It seems surreal that little
:00:38. > :00:41.boy could walk out of his house. My son is the same age and there is no
:00:42. > :00:42.way he could get his coat and shoes on.
:00:43. > :00:45.Officers say there was a possible sighting of him yesterday morning
:00:46. > :00:48.but it's not confirmed. Also tonight: Ed Miliband says it's
:00:49. > :00:51.time for a "reckoning" with the big banks, and plans to break them up if
:00:52. > :00:54.Labour win the next election. Ahead of the Sochi Winter Olympics,
:00:55. > :00:57.President Putin tells gay athletes to leave children in peace.
:00:58. > :00:59.The otter pups and other wildlife struggling to survive, as flooding
:01:00. > :01:03.continues to devastate parts of the UK.
:01:04. > :01:05.And can Manchester United's manager reverse the slump in their Premier
:01:06. > :01:12.League fortunes? In Sportsday, it's being reported
:01:13. > :01:14.West Brom's shirt sponsors are threatening to pull out if the club
:01:15. > :01:43.continues to play Nicolas Anelka. Good evening and welcome to the BBC
:01:44. > :01:45.News At Ten. Police say they are investigating
:01:46. > :01:48.the possibility that three-year-old Mikaeel Kular may have disappeared
:01:49. > :01:52.following what they call a criminal act. He's been gone for over 48
:01:53. > :01:55.hours now and hundreds of police officers, on foot, on horseback,
:01:56. > :01:59.with sniffer dogs and helicopters, all helped by local volunteers, have
:02:00. > :02:02.spent the day searching for him. There was a potential sighting of
:02:03. > :02:08.the boy at 8.30am yesterday morning but it's not been confirmed as him.
:02:09. > :02:11.The police say the fact that the little boy has been missing for so
:02:12. > :02:14.long is of "grave concern". There has been no confirmed sighting of
:02:15. > :02:18.Mikaeel since he was put to bed by his mother two days ago at their
:02:19. > :02:21.home in Edinburgh. In the hunt for the little boy, all police forces
:02:22. > :02:24.and ports have been put on alert across the UK. Our Scotland
:02:25. > :02:36.correspondent Lorna Gordon has the very latest for us in Edinburgh now.
:02:37. > :02:39.Yes, a nationwide alert but the focus of the search still remains
:02:40. > :02:43.very much here on this estate and the surrounding areas in the north
:02:44. > :02:49.of Edinburgh. And police say the support of the local community
:02:50. > :02:54.continues to remain vital. Day two in the search for Mikaeel
:02:55. > :02:59.cooler. Hundreds of volunteers responded to an appeal for help. The
:03:00. > :03:05.young, those with families, mothers with their prams. If that was
:03:06. > :03:09.yourself, you would hope everybody else would be doing the same for
:03:10. > :03:15.you. And with mums, it hits home when it's go missing. Searchers,
:03:16. > :03:18.standing shoulder to shoulder, dressed for the weather, some doing
:03:19. > :03:24.their job, others donating their time and energy. Police have
:03:25. > :03:29.organised locals into this systematic search of the Edinburgh
:03:30. > :03:34.shoreline. It was checked carefully for clues yesterday, but once again
:03:35. > :03:37.they are sweeping the area, slowly, carefully looking for any signs, any
:03:38. > :03:46.indication as to where Mikaeel has gone. On one side, the city, on the
:03:47. > :03:52.other, the sea. Fanning out, searching scrubland and trees. I was
:03:53. > :03:57.out nine hours yesterday and I will stay for as long as I'm needed
:03:58. > :04:03.tonight. To find the little boy. Sad. What we know so far? Mikaeel
:04:04. > :04:07.Kular was last seen in his mother put him to bed in the family home at
:04:08. > :04:11.nine o'clock on Wednesday evening. When she went to wake in the next
:04:12. > :04:16.morning, ye had vanished. Police began searching shortly afterwards
:04:17. > :04:20.and by yesterday afternoon a UK -wide appeal for him was issued.
:04:21. > :04:24.Police are investigating claims that a child matching Mikaeel's
:04:25. > :04:27.description was seen on this street the morning after he disappeared,
:04:28. > :04:32.and they are keeping an open mind about why he went missing. It is,
:04:33. > :04:38.however, entirely possible that Mikaeel has become the subject of a
:04:39. > :04:42.criminal act, and our investigation has been established as a twin track
:04:43. > :04:50.to ensure that that eventuality is being and will be fully explored. At
:04:51. > :04:54.Mikaeel's Nursery, parents expressed their shock. He is in my son's class
:04:55. > :05:01.and I just can't imagine going through that, getting up and not
:05:02. > :05:04.finding him there. It is awful. It seems surreal and observed that a
:05:05. > :05:08.little boy could walk out of his own house. My son is the same age and
:05:09. > :05:14.there is no way he could get his coat and shoes on and things like
:05:15. > :05:17.that. From fliers handed out locally to digital billboards across
:05:18. > :05:20.Britain, Mikaeel's images everywhere. There is grave concern
:05:21. > :05:24.that this little boy has not been seen now for more than 48 is. His
:05:25. > :05:29.family are desperate to get him home. More information coming from
:05:30. > :05:34.the police over the last few hours and a slight change in tone. They
:05:35. > :05:38.have firmed up more of Mikaeel's movements over the last few weeks,
:05:39. > :05:43.saying he has not been a nursery since the Christmas break because he
:05:44. > :05:46.has been ill. They will be trying to work out exactly what he was up to
:05:47. > :05:50.in the days preceding his disappearance and of course what has
:05:51. > :05:53.happened over the last 48 is. They also say there is nothing to confirm
:05:54. > :05:58.either way white Mikaeel has vanished, and they will be trying to
:05:59. > :06:00.work out whether indeed a three-year-old can get dressed,
:06:01. > :06:04.perhaps in the middle of the night, and leave his home on his own, or
:06:05. > :06:08.whether someone else was involved in his disappearance.
:06:09. > :06:11.The Labour leader Ed Miliband has set out his plans to break up
:06:12. > :06:14.Britain's high street banks if his party wins the next election. He
:06:15. > :06:18.says it's time for a "reckoning" with the industry, one of a number
:06:19. > :06:21.which he claims are not working in the best interests of the public.
:06:22. > :06:30.Our political editor, Nick Robinson, reports.
:06:31. > :06:34.Please welcome Ed Miliband. A movie star entrance for the Labour leader
:06:35. > :06:41.today, staged by a party determined to present him as man enough to
:06:42. > :06:45.stage a showdown with Britain's vested interests. We need a
:06:46. > :06:50.reckoning with our banks, not for retribution but for reform. That
:06:51. > :06:56.word, reckoning, is the one they use in the movies when there is a whole
:06:57. > :07:01.list of misdeeds to avenge. Mr deeds Ed Miliband listed. Insecure jobs,
:07:02. > :07:05.house prices out of reach, the bill still too high, the banks not
:07:06. > :07:11.serving the real economy, and George Osborne and David Cameron want much
:07:12. > :07:15.relation to how well they are doing. If they really believe that a few
:07:16. > :07:20.months of better statistics are going to solve the cost of living
:07:21. > :07:25.crisis, they only go to show they have absolutely no clue about the
:07:26. > :07:31.scale of the problem, or the scale of the solutions required. And
:07:32. > :07:36.today's beat Labour solution is a plan to break up written's biggest
:07:37. > :07:44.banks. -- today's big Labour solution is to rake up Britain's
:07:45. > :07:49.biggest banks. It is one of the most concentrated patterns of ownership
:07:50. > :07:53.in the world. So what is Ed Miliband's plan for that reckoning
:07:54. > :07:57.with the big banks? A Labour government, he said, would order an
:07:58. > :08:00.immediate enquiry by competition authorities, a new cap would come on
:08:01. > :08:08.the size any bank could reach, the aim would be to create two big new
:08:09. > :08:13.challenger banks. Watching the Labour leader in Essex, the boss and
:08:14. > :08:18.workers of a small IT firm which struggled to raise the funds they
:08:19. > :08:22.needed to expand their business. He talked a lot of sense today as to
:08:23. > :08:27.what he would do, and tackling the banks and tackling lending to small
:08:28. > :08:30.businesses is crucial, very crucial. I think a lot of it could be
:08:31. > :08:36.rhetoric, just giving us what we want to hear. And I'm quite
:08:37. > :08:41.sceptical. The Prime Minister, on a visit to a road scheme in Norfolk,
:08:42. > :08:46.insisted that the coalition was already acting to produce more
:08:47. > :08:52.banking competition. We have been clearing up the Walls and sorting
:08:53. > :08:55.out our banking system, and it is much stronger than the mess we
:08:56. > :09:01.inherited from Labour. But what we really need is a whole economic
:09:02. > :09:04.plan. Last year, the TSB open for business again as a separate
:09:05. > :09:10.stand-alone bank after Lloyds was ordered to shed branches and more
:09:11. > :09:14.than 4 million customers. I agree we need more competition in banking,
:09:15. > :09:22.new banks, particularly to support business in the recovery. But he is
:09:23. > :09:27.in danger of reinventing the wheel. At this small London brewery, Ed
:09:28. > :09:30.Miliband heard a welcome for his tanking plan. Perhaps he will raise
:09:31. > :09:33.a glass to one more eye-catching policy announcement, which he will
:09:34. > :09:41.hope the electorate like the taste of. Great. Really nice. Given the
:09:42. > :09:44.anger of many voters, the next election is sure to be what they
:09:45. > :09:50.call at the movies a day of reckoning. The fight is over who
:09:51. > :09:54.with. Will it read, as the Labour leadership hope, with powerful banks
:09:55. > :09:59.and the energy companies, or as the Tories wish, with Labour's record?
:10:00. > :10:02.No more eavesdropping on the mobile phone calls of foreign leaders and
:10:03. > :10:06.no more mass storage of telephone records - just two of the pledges
:10:07. > :10:10.President Obama has made to restore the image of America's National
:10:11. > :10:12.Security Agency. The NSA has been the subject of numerous leaks from
:10:13. > :10:23.the former intelligence contractor Edward Snowden. Our North America
:10:24. > :10:28.editor, Mark Mardell, reports. It could be you, or it could be
:10:29. > :10:31.him, you just can't know. But information about millions of
:10:32. > :10:36.innocent phone calls and e-mails has been collected by US intelligence,
:10:37. > :10:41.swept up as part of a vast operation that has shocked many at home and
:10:42. > :10:45.abroad. President Obama says now there will be some changes. The
:10:46. > :10:49.bottom line is that able round the world, regardless of their
:10:50. > :10:54.nationality, should know that the United States is not spying on
:10:55. > :11:02.ordinary people. We take their privacy concerns into account in our
:11:03. > :11:07.policies and procedures. This applies to foreign leaders as well.
:11:08. > :11:10.President Obama has ordered that spying on friendly foreign leaders
:11:11. > :11:14.should stop unless there is a compelling national security
:11:15. > :11:17.purpose. He has instructed that the privacy of people at home and abroad
:11:18. > :11:20.should be treated with dignity and respect, and he will appoint an
:11:21. > :11:26.official responsible for privacy and Civil Liberties to work with
:11:27. > :11:29.intelligence agencies. With the fate of the -- but the fate of the
:11:30. > :11:33.intelligence trawl exposed by Edward Snowden is far from clear. The
:11:34. > :11:36.president said the collection of bulk data must continue but not in
:11:37. > :11:41.its current form. There will be some curbs, and a report on a new way
:11:42. > :11:46.forward in 60 days, and then Congress will get to vote. The
:11:47. > :11:53.danger here is that we could take steps that, if not carefully carried
:11:54. > :11:57.-- carried out, could limit the flexibility and the agility and the
:11:58. > :12:02.speed with which we can detect and process intelligence material in
:12:03. > :12:05.order to prevent plotting and attacks, in order to disrupt
:12:06. > :12:10.terrorist activity. That is the danger. The president's new
:12:11. > :12:16.directive is very clear dash privacy shall be integral. And private
:12:17. > :12:21.interim -- private information should not be misused or mishandled.
:12:22. > :12:24.But much of it is left up to the intelligence agencies. It will have
:12:25. > :12:26.a knock-on effect. The British Government says we have strong
:12:27. > :12:32.protections but others are not so sure. If Washington changes, so much
:12:33. > :12:37.Britain, according to Conservative MP David Davis, who has been
:12:38. > :12:41.gathering information on the debate. We cannot do things the Americans
:12:42. > :12:45.will not do. The implications for GCHQ, they receive about $100
:12:46. > :12:51.million a year from the NSA to help the NSA do what they are now being
:12:52. > :12:55.stop from doing. Some protesters had a simple demand.
:12:56. > :12:58.Other Civil Liberties groups gave a cautious welcome to the tiring but
:12:59. > :13:03.said bulk election should be ended, not mended. The president has
:13:04. > :13:07.ensured this debate is far from over.
:13:08. > :13:10.The storms which have battered the country in recent weeks have left
:13:11. > :13:13.local councils struggling to repair the damage to roads. They've
:13:14. > :13:16.estimated the bill at ?400 million in England and Wales alone. And
:13:17. > :13:19.there's no let up it seems. There was more misery for commuters this
:13:20. > :13:24.morning. These drivers in Essex were struggling through flood water. Now
:13:25. > :13:27.the BBC has seen the first major study, by the Environment Agency, of
:13:28. > :13:30.the impact on some of Britain's most important wildlife habitats. Nearly
:13:31. > :13:32.50 sites of special scientific interest have been severely
:13:33. > :13:35.affected, the worst damage ever recorded. Our science editor, David
:13:36. > :13:48.Shukman, explains. Seal pups in a rescue centre,
:13:49. > :13:55.separated from their mother by a violent tidal surge. Now cared for
:13:56. > :14:00.by the RSPCA, these pups are lucky survivors. An unknown number were
:14:01. > :14:07.swept away. Baby otters, found on a road. Also believed to be victims of
:14:08. > :14:11.flooding. And on the Norfolk coast, the RSPB filmed one of the many
:14:12. > :14:15.birds that didn't get away. What's emerging is how wildlife has
:14:16. > :14:19.suffered in this winter of storms. This is worse than anything we have
:14:20. > :14:23.ever seen before. This impact of this tidal surge was the highest
:14:24. > :14:29.ever recorded in many parts and the impact to these wildlife sites is,
:14:30. > :14:35.in some cases, devastating. Up and down the coast, nature reserves have
:14:36. > :14:41.been ruined. Sea water now flows through breaches in the defences.
:14:42. > :14:44.Here on the north coast of Norfolk this wrecked embankment is one of
:14:45. > :14:48.countless examples of the damage. Even now the full extent isn't
:14:49. > :14:52.known. This is one of many places where the sea has just punched a
:14:53. > :14:59.hole right through the defences. Salt water now lies in what used to
:15:00. > :15:04.be a fresh water habitat. There are hundreds of breaches like this
:15:05. > :15:08.around the country, so tough choices lie ahead about where to repair and
:15:09. > :15:14.where to give up. A nature reserve like this depends
:15:15. > :15:19.on fresh water to survive. So, where sea water has flooded in, the
:15:20. > :15:24.plants, insects and fish that make up the e ecosystem are all put at
:15:25. > :15:29.risk. The big worry is what this means for the famous birdlife here.
:15:30. > :15:33.Some birds can adapt. But others rely on the flood chain provided by
:15:34. > :15:38.fresh water. It is not just about losing some invisible insects. It's
:15:39. > :15:42.about potentially losing the base of a pyramid that includes all the
:15:43. > :15:47.other species. Nature has a way of bouncing back but we won't know for
:15:48. > :15:52.sure how quickly it can bounce back. Repairs to a broken barrier. This is
:15:53. > :15:56.to guard houses, not wildlife. There is a limited budget and not
:15:57. > :16:00.everything can be protected. No wonder people are nervous. Marie
:16:01. > :16:04.Strong is the county councillor for the area. She says the priorities
:16:05. > :16:07.for flood defence are clear. The first thing has to be homes and
:16:08. > :16:10.people and businesses. Because that's people's livelihoods. It's
:16:11. > :16:16.not just saying that shop has to be kept going. It has a knock-on effect
:16:17. > :16:19.on people's lives but of course so does the wildlife and particularly
:16:20. > :16:23.around here that has been affect on tourism. It has to follow but it
:16:24. > :16:27.does need to follow. Wildlife can be resilient but the challenge this
:16:28. > :16:35.winter has been exceptional and it is not over yet.
:16:36. > :16:39.The Queen's granddaughter, Zara Tindall, has given birth to a girl.
:16:40. > :16:42.The new Royal baby weighed 7lbs 12oz and is 16th in line to the throne.
:16:43. > :16:45.Zara's husband, Mike Tindall, was present at the birth at
:16:46. > :16:49.Gloucestershire Royal Hospital. He took to Twitter to say that today
:16:50. > :16:52.was "the best day" of his life, adding, "The girls are both doing
:16:53. > :16:59.great." The Prime Minister, David Cameron, also welcomed the news.
:17:00. > :17:03.Well, it is wondserful news. I'm delighted for the couple. I know
:17:04. > :17:09.them a little. I know they will be devoted and delighted parents. So
:17:10. > :17:12.happy news all round. Ahead of next month's Winter
:17:13. > :17:14.Olympics in Sochi, the Russian president has announced that
:17:15. > :17:17.security will be strong, though not too intrusive, but that he will
:17:18. > :17:19.enforce laws banning homosexual propaganda, adding that gay athletes
:17:20. > :17:26.and spectators attending the Games should, in his words, "leave
:17:27. > :17:28.children in peace." The BBC's Andrew Marr was one of just three
:17:29. > :17:29.international journalists given a broadcast interview with the
:17:30. > :17:38.president before the games. It's just two weeks to go to the
:17:39. > :17:42.Winter Olympics and the Russian Black Sea city of Sochi, scene of
:17:43. > :17:49.the world's largest construction site is almost open for business.
:17:50. > :17:53.The Russian President, Vladimir Putin, very rarely gives interviews
:17:54. > :17:57.to foreign journalists. But this is such a big moment for him and
:17:58. > :18:02.Russia, that today he's making an exception. Mr Poout poout told me
:18:03. > :18:07.that this was -- Mr Putin told me this was a turning point in the
:18:08. > :18:12.story of Russia itself. TRANSLATION: After the collapse of
:18:13. > :18:17.the Soviet Union, and after the tough, bloody events in the
:18:18. > :18:21.Caucasus, our society was in a state of depression. We need to shake that
:18:22. > :18:29.off. We need to understand and to feel that we can do great things.
:18:30. > :18:34.But after recent terrorist attacks, security remains the number one
:18:35. > :18:39.concern in Russia. Mr Putin confirmed to us that he's had help
:18:40. > :18:46.from Western security agencies in throwing an iron ring around Sochi.
:18:47. > :18:52.TRANSLATION: If we allow ourselves to display weakness, or to show our
:18:53. > :18:59.fear, then we'll be helping the terrorists to achieve their aims.
:19:00. > :19:04.The Sochi Games are a huge moment of national pride and prestige,
:19:05. > :19:08.involving huge investment, new roads, new railways, effectively an
:19:09. > :19:12.entire new winter resort but the rest of the world has been looking
:19:13. > :19:15.on and seeing controversy over corruption, over the release of
:19:16. > :19:21.political prisoners and above all, a bitter, bitter row between the West
:19:22. > :19:27.and Russia over gay rights. That remains a philosophical divide. On a
:19:28. > :19:31.day when Mr Putin said gays were welcome at the Olympics but they
:19:32. > :19:37.should, "Leave the kids in peace." So, was all the money, all the risk,
:19:38. > :19:42.all the controversy really worth it? It's a huge project and a huge
:19:43. > :19:47.gamble but already one that Mr Putin thinks he's winning.
:19:48. > :19:54.You can see the full interview with President Putin on the Andrew Marr
:19:55. > :20:01.Show this Sunday morning at 9.00am on BBC One. A Britain is among at
:20:02. > :20:06.least 14 people who have died in an attack in a rows student in Kabul.
:20:07. > :20:10.Two men opened fire inside the restaurant said to be popular with
:20:11. > :20:15.foreigners and a suicide bomber blew himself outside. The Taliban said it
:20:16. > :20:20.carried out the attack. And in the last few minutes, West Midlands
:20:21. > :20:24.Police said two 21-year-old men from Birmingham have been charged with
:20:25. > :20:30.planning and travelling to Syria for terrorism. The men, both from the
:20:31. > :20:40.Hanns worth area of the city were detained at Heat Heath earlier this
:20:41. > :20:43.week. A soldier who killed his 20-month-old daughter has been
:20:44. > :20:45.jailed for six years. Lance Corporal Liam Culverhouse, who was a
:20:46. > :20:48.Grenadier Guardsman, had survived an attack in Afghanistan in which five
:20:49. > :20:51.of his fellow soldiers died. The judge told him that post traumatic
:20:52. > :20:53.stress had clearly contributed to his actions but could not excuse
:20:54. > :20:58.them, as Jonathan Beale reports. Liam Culverhouse survived his own
:20:59. > :21:01.serious wounds serving as a soldier in Afghanistan but today he was in
:21:02. > :21:05.court for the severe injuries he inflicted on his own baby daughter
:21:06. > :21:08.and which ultimately caused her death.
:21:09. > :21:13.After he was sentenced to six years in jail, the police gave this
:21:14. > :21:19.reaction. Liam Culverhouse was himself a very troubled man. Clearly
:21:20. > :21:22.unfit to look after a small baby. I hope that the prison sentence
:21:23. > :21:28.affords him a chance to reflect on his actions and to be truly
:21:29. > :21:31.remorseful. No photographs of baby Khloe have been released but in
:21:32. > :21:35.court we heard a long list of the injuries she suffered at just seven
:21:36. > :21:39.weeks' old. They included multiple fractures to her skull, ribs and
:21:40. > :21:45.spine. Some injuries consistent with violent shaking. She died, 18 months
:21:46. > :21:49.later. Liam Culverhouse was shot six times.
:21:50. > :21:53.This, the rescue after a rogue Afghan policeman opened fire and
:21:54. > :21:57.left him with multiple wounds and the loss of an eye. He later gave
:21:58. > :22:02.evidence at the inquest of the five comrades who died in that attack but
:22:03. > :22:05.his lawyer said his own post-traumatic stress disorder was
:22:06. > :22:09.never properly treated. Even though research shows there may have been
:22:10. > :22:13.cause for concern. What we find is that those who are deployed in
:22:14. > :22:16.combat roles are more likely to violently offend in return and we
:22:17. > :22:21.also found that post-traumatic stress disorder was a predictor of
:22:22. > :22:25.violent offending. Summing-up, the judge told Liam culler have shous,
:22:26. > :22:30."Despite the effects of your condition, you maintained a
:22:31. > :22:34.significant degree of cull tab for Khloe's death." Before the assault
:22:35. > :22:37.he admitted he easily lost his temper and was worried when left
:22:38. > :22:44.alone with his children. There is now a review as to why the warning
:22:45. > :22:48.signs were never picked up. Prince Harry is to take up a new
:22:49. > :22:49.role in the Army as a Staff Officer after completing his current
:22:50. > :22:52.attachment flying attack helicopters. He'll be based at Horse
:22:53. > :22:54.Guards in London. Captain Wales' new responsibilities will include
:22:55. > :22:56.helping to organise major ceremonial events, such as state visits and
:22:57. > :23:05.Trooping the Colour. Now, he got fined today for
:23:06. > :23:08.questioning a referee's decision and his two best strikers are missing
:23:09. > :23:10.for this weekend's clash with Chelsea. It's been another difficult
:23:11. > :23:13.week for Manchester United's David Moyes. He's not had the best of
:23:14. > :23:22.starts to his managerial career at Old Trafford, a place, which it
:23:23. > :23:25.appears, no longer strikes fear into opposing teams as our Sports Editor
:23:26. > :23:27.David Bond reports. It's only the half-way point of the Premier League
:23:28. > :23:30.season but already the pressure is beginning to show for Manchester
:23:31. > :23:34.United and their new manager, David Moyes.
:23:35. > :23:38.They are 11 points off the top and they face Chelsea on Sunday without
:23:39. > :23:42.Wayne Rooney and Robin van Persie. So what does the manager, who was
:23:43. > :23:47.tipped to take over the club last summer, think of Moyes? He will have
:23:48. > :23:54.time to build his team. He will have time to recover his players. He will
:23:55. > :24:00.have budget to buy and to add important players to the club. So, I
:24:01. > :24:04.think he will succeed. The season after Sir Alex Ferguson's retirement
:24:05. > :24:08.was always going to be one of transition and uncertainty but few
:24:09. > :24:12.expected it to be this tough. And United's poor performance on the
:24:13. > :24:17.pitch has led to concerns about their performance as a business.
:24:18. > :24:22.American owners, the Glazers, floated United on the New York Stock
:24:23. > :24:26.Exchange in August 2012. The money raised was partly used to reduce the
:24:27. > :24:31.club's huge debts and with revenues growing at record levels each year,
:24:32. > :24:35.the company's stocks should be soaring.
:24:36. > :24:40.When Manchester United won the Premier League under Ferguson last
:24:41. > :24:43.year, the share price hit a high of $19 in New York, where the club is
:24:44. > :24:48.listed. Since he handed over to David Moyes,
:24:49. > :24:53.it's been less buoyant w a sharp dip since the beginning of December to
:24:54. > :24:59.around $15. It's now fallen more than 15% under the new manager.
:25:00. > :25:03.Today I asked him what he could do to reassure investors. Well, I would
:25:04. > :25:09.say, you know, speak to the Board about that. You don't have a view
:25:10. > :25:12.about the value of the club? No, my job is to work with the players and
:25:13. > :25:18.get the players right and prepare them. So, you should speak to the
:25:19. > :25:21.Board about that. Senior United executives tell me they are not
:25:22. > :25:25.unduly concerned about the share price and insist their long-term
:25:26. > :25:31.business plan will keep them at the top of the financial league. But,
:25:32. > :25:34.will that convince the markets? ? Manchester United's profits are
:25:35. > :25:38.dependent on how well its players perform on the pitch. The more wins,
:25:39. > :25:42.the more money the company will make, the higher the stock price
:25:43. > :25:46.should go. Despite the shaky start under Moyes, Manchester United are
:25:47. > :25:50.still a money-making machine. That financial dominance will only be
:25:51. > :26:00.threatened if this dip turns into something much more serious.
:26:01. > :26:01.That's all from us. There is a first look at the papers on the