:00:23. > :00:26.Good evening. The Government has ordered an
:00:26. > :00:30.independent review into the setting of interbank lending rates. To try
:00:30. > :00:36.to prevent a repeat of the scandal in which stav at Barclays fixed
:00:36. > :00:42.rates in their favour. The review is to be completed by the end of
:00:42. > :00:45.the summer. However, Ed Miliband has repeated his call for a full
:00:45. > :00:48.public inquiry, saying that the Government response would be a
:00:48. > :00:53.sticking plaster solution. What should be done about the
:00:53. > :00:58.conduct of some bankers who lied and cheated for personal gain? The
:00:58. > :01:03.politicians have different views of the right response. Barclays was
:01:03. > :01:09.fined �290 million after some of its staff rigged the rates at which
:01:09. > :01:12.banks lend to one another, the LIBOR which affects the mortgage
:01:12. > :01:16.rates of thousands of customers. Those responsible have not faced a
:01:16. > :01:20.penalty so far. Today, the Prime Minister said that they would
:01:20. > :01:25.review what has gone wrong. It is very important that the
:01:25. > :01:30.Government takes a look at awful the actions that have been
:01:30. > :01:33.occurring to now. Making sure that the criminal law can go where it
:01:33. > :01:38.needs to uncover wrongdoing. So, the Government is to hold an
:01:38. > :01:42.independent review to be set up next week. It will propose new
:01:42. > :01:46.regulations on the way that the interbank lending rate works. These
:01:46. > :01:49.could be included in the Financial Services Bill going through
:01:49. > :01:53.Parliament and to make criminal prosecutions easier in the future,
:01:53. > :02:00.but Labour want a wider inquiry, led by a judge to look at the
:02:00. > :02:04.behaviour and the ethics of the banks. It should be along the lines
:02:04. > :02:07.of the Leveson-style, they say. They say that they will not
:02:07. > :02:11.tolerate the establishment closing ranks.
:02:11. > :02:17.I have a message tor David Cameron, the British people will not
:02:18. > :02:21.tolerate anything lesz than a full, oip open and independent inquiry.
:02:21. > :02:25.Next week, Barclays' chief executive, Bob Diamond, is to be
:02:25. > :02:29.questioned by the Commons Treasury select committee. He said that
:02:29. > :02:34.inappropriate conduct at the bank is limited to a small number of
:02:35. > :02:39.people. That is unlikely to unpress the MPs.
:02:39. > :02:42.This latest scandal has damaged the reputation of Britain's financial
:02:42. > :02:48.services industry. The politicians know that they have to agree the
:02:48. > :02:54.right response if they are to restore public trust.
:02:54. > :03:02.Egypt's new President, Mohammed Morsi has been formerly sworn in.
:03:02. > :03:06.Backed by the Muslim Brotherhood, he has promised a new rule in his
:03:06. > :03:08.country's history. Mohammed Morsi vowed to reclaim powers recently
:03:08. > :03:15.stripped from the country's military.
:03:15. > :03:17.The man in the presidential limousine, surrounded by police
:03:17. > :03:22.motorcycle outriders is Mohammed Morsi of the once banned Muslim
:03:22. > :03:26.Brotherhood. Egyptians still can't quite believe
:03:26. > :03:30.it, or the fact he did not demand that the streets should be cleared
:03:31. > :03:38.of traffic for him as they used to be for Hosni Mubarak.
:03:38. > :03:43.Then after the swearing in, on to the Cairo University.
:03:43. > :03:50.TRANSLATION: Egypt has now an elect the President.
:03:50. > :03:55.In -- an elected President. In his inaugural speech, Mohammed
:03:55. > :03:58.Morsi promised to be servant and master to the people. Among the
:03:58. > :04:04.crowd outside, hopes were running sky high.
:04:04. > :04:06.I think that Egypt will be a more democratic country. I hope that all
:04:06. > :04:12.Egyptians are equal. I hope that the constitution is carried out
:04:12. > :04:15.soon. I hope that everything in Egypt will be more good.
:04:15. > :04:19.Everything Mohammed Morsi has done today has been designed to show
:04:19. > :04:23.that Egypt is entering a new era. It is a new style. He wants to say
:04:23. > :04:26.he is a man of the people who will work for the Egyptian people to
:04:26. > :04:31.whom he owes his power and authority.
:04:31. > :04:38.But who has the real power? Even as the military formerly handed over
:04:38. > :04:43.control to the new President, the question remains unresolved.
:04:43. > :04:47.In the last few minutes, world powers are meeting to discuss the
:04:47. > :04:53.conflict in Syria, they have agreed how a transitional government
:04:53. > :05:02.should be formed. Speaking at the end of the
:05:02. > :05:06.conference in Geneva, Kofi Annan said that both the groups in Syria
:05:06. > :05:12.must lay down their weapons and respect the peace plan. Passengers
:05:12. > :05:16.are facing delays on rail way lines between Newcastle and Edinburgh.
:05:16. > :05:22.Caroline Spelman has been in the north ease seeing for herself some
:05:22. > :05:24.of of the flood damage in that area. This torrent, pouring down a
:05:25. > :05:31.Gateshead road was filmed on a mobile phone on Thursday. The rain
:05:31. > :05:36.came down so quickly, the drains were overwhelmed and the area was
:05:36. > :05:41.suddenly submerged. Today, Andrew McGrath was trying to make the best
:05:41. > :05:47.of the situation at his flood- damaged house. This was the view
:05:47. > :05:52.from the upstairs window a couple of days ago, downstairs, the floor
:05:52. > :05:58.has been ruined. All of the flooring has had to come
:05:58. > :06:01.What about the cost? Are you insured? We have no ins. It which
:06:01. > :06:08.will take a while to get back on our feet.
:06:08. > :06:13.A few doors down from Andrew, the Environment Secretary came to see
:06:13. > :06:19.the flood damage for herself. The unpredictability of the extreme
:06:19. > :06:23.weather events we are seeing is part of our job as a Government to
:06:23. > :06:26.ensure that the flood defences are there.
:06:26. > :06:31.This area experienced a month's rainfall in two hours. Houses like
:06:31. > :06:35.this one which are not on riverbanks or in known flood areas
:06:35. > :06:40.were simply caught out by a few hours' of rain that will now lead
:06:40. > :06:44.to months of disruption. Train services between Newcastle and
:06:44. > :06:47.Edinburgh are delayed. Sections of track like this one in
:06:47. > :06:53.Northumberland are being rebuilt, but the London to Leeds route is
:06:53. > :06:57.running normally. Members of the army, Navy and the
:06:57. > :07:06.Royal Air Force have been taking part in events across the country
:07:06. > :07:11.to marked Armed Forces Day. In plim, thousands -- in Plymouth, thousands
:07:11. > :07:18.lined the streets. General Sir David Richards paid
:07:18. > :07:23.tribute to all of those who served. The band of the Royal Marines,
:07:23. > :07:26.celebrating this year with a distinctive Naval theme.
:07:26. > :07:32.Thousands of well-wishers came to show their support.
:07:32. > :07:38.The Prime Minister was there to meet veterans of earlier wars.
:07:38. > :07:42.While a hero of a more recent conflict, Corporal Johnson Beharry,
:07:42. > :07:46.carried off the Olympic torch to the National Memorial Arboretum. He
:07:46. > :07:52.earned the highest commendation for his bravery in Iraq, the Victoria
:07:52. > :07:56.Cross, for saving the lives of his comrades. Here in Helmand province,
:07:56. > :08:00.the chief of the defence staff, General Sir David Richards came to
:08:00. > :08:04.thank the men and the women working in operations in a sweltering
:08:04. > :08:10.Afghan heat. I wish to say a very, very big
:08:10. > :08:15.thank you. The people in Britain are using this as an opportunity to
:08:15. > :08:19.give thanks for what they do, but this also gives us a chance to say
:08:19. > :08:25.thank you to the supporters those who support us so well.
:08:25. > :08:30.For the British Forces here this was a normal working day, but out
:08:30. > :08:34.on the patrol, the handover of the security gathers pace. British
:08:34. > :08:39.Forces have been serving in Helmand for some seven years now. They
:08:39. > :08:44.point to places like this, in the market in the centre of Nad Ali,
:08:44. > :08:50.which they say has not seen a single shot fired since April of
:08:50. > :08:53.this year. They point to it as proof that all of the hard work and
:08:53. > :08:57.the sacrifices made here are finally bearing fruit.
:08:57. > :09:02.Andy Murray is due on Centre Court at Wimbledon this evening. With
:09:02. > :09:06.British hopes in the tournament once again resting solely on his
:09:06. > :09:10.shoulders. This could abstern test for Andy
:09:10. > :09:14.Murray tonight? It could be, but he should be the favourite against
:09:14. > :09:17.Marcos Baghdatis. You have to hope that Andy Murray is not
:09:17. > :09:24.superstitious, given the reputation that Centre Court has gained for
:09:24. > :09:27.the night time gains. Roger Federer was taken to a brutal five sets
:09:27. > :09:31.last night. Rafael Nadal was knocked out the night before, but
:09:31. > :09:36.Marcos Baghdatis should not be too much of a challenge for Andy Murray.
:09:36. > :09:44.They have met once before at Wimbledon. It was in 2006, a great
:09:44. > :09:53.display by Andy Murray. He lost that game. The reason that they are