Browse content similar to 21/07/2016. Check below for episodes and series from the same categories and more!
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With just two weeks to go until the Olympics in Rio, | :00:08. | :00:16. | |
Brazilian police say they have broken up a terror cell, | :00:17. | :00:19. | |
which was planning to attack the Rio Olympics. | :00:20. | :00:25. | |
Theresa May Hazmat Francois Hollande in Paris. He's made it clear he | :00:26. | :00:31. | |
wants negotiations over Brexit to start as soon as possible. | :00:32. | :00:36. | |
TRANSLATION: The sooner the better in the common interest. There cannot | :00:37. | :00:40. | |
be discussions or pre-negotiations before the negotiation. We are live | :00:41. | :00:45. | |
at the Republican National Convention where one-time candidate | :00:46. | :00:51. | |
Ted Cruz ended up being booed. We look ahead to Donald Trump's | :00:52. | :00:52. | |
headline speech later tonight. First, just two weeks to the start | :00:53. | :01:17. | |
of the real Olympics and Brazilian authorities say they've broken up a | :01:18. | :01:20. | |
terror cell suspected of planning attacks during the games. The | :01:21. | :01:32. | |
arrests happened in the border state of Parana. A further two have been | :01:33. | :01:40. | |
arrested in the southern state of Parana, significant, it is got an | :01:41. | :01:45. | |
open border with Paraguay. One of the allegations against members of | :01:46. | :01:50. | |
this group is they looked into the possibility of getting weapons, | :01:51. | :01:53. | |
specifically AK-47 assault rifles, from Paraguay into Brazil. The | :01:54. | :01:56. | |
group, which has been communicating with each other across WhatsApp and | :01:57. | :02:03. | |
telegram messaging services, had also expressed support for so-called | :02:04. | :02:07. | |
Islamic State. It celebrated in the words of police recent attacks in | :02:08. | :02:12. | |
Neath and other parts of France. There was enough information | :02:13. | :02:14. | |
according to federal police in Brazil to suspect these men of being | :02:15. | :02:19. | |
in the planning stages of a possible attack. It's important to point out | :02:20. | :02:22. | |
there is no specific information about an attack, a target. But | :02:23. | :02:28. | |
because of the heightened security situation now in Rio and wider in | :02:29. | :02:33. | |
Brazil. With two weeks to go and all the Olympic Games, authorities are | :02:34. | :02:38. | |
on an increased alert level. That level was increased again after the | :02:39. | :02:44. | |
recent attacks in Nice. There is lots of information can allegations | :02:45. | :02:48. | |
on the web, that some sort of attack is imminent. Authorities are clear | :02:49. | :02:52. | |
to point out they have no specific evidence of an attack but this group | :02:53. | :02:56. | |
of men, some known to each other personally, others who just met over | :02:57. | :03:00. | |
the Internet, were in the preparatory stages of planning an | :03:01. | :03:04. | |
attack. We've heard so much about the focus on the threat of the Zika | :03:05. | :03:09. | |
Virus to the Olympic Games in Rio. There has busy being a great deal of | :03:10. | :03:13. | |
concern among authorities about the threat of terrorism. Yeah, look, | :03:14. | :03:20. | |
violence, security and terror are big issues in Brazil, specifically | :03:21. | :03:25. | |
violence on the streets and crime, the levels of which are very high in | :03:26. | :03:31. | |
Rio itself. An interview we did with the head of security in Rio, he told | :03:32. | :03:36. | |
us unequivocally that terrorism as he put it is his major concern. Not | :03:37. | :03:40. | |
a cause Brazil is traditionally a target. The last big terror attack | :03:41. | :03:44. | |
on mainland South America was 1994 when the Jewish cultural centre in | :03:45. | :03:48. | |
Buenos Aires was bombed, 85 people were killed. Brazil is never seen as | :03:49. | :03:54. | |
a target traditionally, it's not part of the international coalition | :03:55. | :03:57. | |
involved in attacks against Isis in Syria. As there are large numbers of | :03:58. | :04:00. | |
foreign visitors, half a million people at least do in Brazil over | :04:01. | :04:06. | |
the next few weeks to the Olympic Games, there are possible targets. | :04:07. | :04:09. | |
This is a country with 16,000 kilometres of pretty open land | :04:10. | :04:14. | |
borders. In that sense it would be a soft target. There are concerns | :04:15. | :04:19. | |
here. Foreign delegations have their own security teams during the games | :04:20. | :04:23. | |
and security in Brazil itself has been significantly stepped up as | :04:24. | :04:24. | |
well. Theresa May is meeting French | :04:25. | :04:28. | |
president Francois Hollande in her first trip to Paris | :04:29. | :04:30. | |
as Britain's prime minister. They've just had a working dinner, | :04:31. | :04:35. | |
let's show you pictures of her arriving earlier at the police a | :04:36. | :04:40. | |
palace. Speaking to the media both leaders showed a united front after | :04:41. | :04:45. | |
last week's attacks in Nice. There seems to be some disagreement over a | :04:46. | :04:50. | |
timetable for a British exit from the European Union. As the UK leads | :04:51. | :04:54. | |
the EU will have to determine how to maintain the closest possible | :04:55. | :04:57. | |
economic relationship between our countries. And it will take time to | :04:58. | :05:01. | |
prepare for those negotiations. I understand the need for certainty | :05:02. | :05:05. | |
and confidence in the markets and that's why I've already been clear | :05:06. | :05:10. | |
that the UK will not invoke article 50 until before the end of this | :05:11. | :05:15. | |
year. In the meantime I want to reiterate that Britain remains open | :05:16. | :05:19. | |
for business, that French citizens and their EU counterparts can | :05:20. | :05:22. | |
continue to work in Britain and they are very welcome in the UK. | :05:23. | :05:27. | |
TRANSLATION: There cannot be discussions or pre-negotiations | :05:28. | :05:31. | |
before the negotiation. But we can of course prepare this negotiation, | :05:32. | :05:34. | |
we can understand that your government, that has just been | :05:35. | :05:40. | |
formed, needs this time. Let me repeat, the sooner the better. There | :05:41. | :05:47. | |
cannot be freedom of movement of goods, free movement of capital, | :05:48. | :05:52. | |
free movement of services, if there isn't a free movement of people. | :05:53. | :05:57. | |
Hugh Schofield was there at the police a palace listening into the | :05:58. | :05:59. | |
news conference. He had this analysis. I take three things out of | :06:00. | :06:06. | |
that conference. The first income in their opening addresses neither | :06:07. | :06:09. | |
leader really spoke very much about Brexit. They spent ten minutes | :06:10. | :06:16. | |
talking about Franco British relations, the history, the | :06:17. | :06:18. | |
importance, how they stand shoulder to shoulder, how Britain had been | :06:19. | :06:22. | |
right behind France after the terrible attack a week ago. Both | :06:23. | :06:27. | |
countries clearly, both leaders clearly at pains to emphasise | :06:28. | :06:30. | |
whatever has happened in Europe the relationship, the historic | :06:31. | :06:36. | |
relationship, which predated the EU, will postdate Brexit. That is the | :06:37. | :06:39. | |
first thing. The second thing is on this key issue of the speed with | :06:40. | :06:42. | |
which Britain will invoke article 50, it's quite clear France has | :06:43. | :06:47. | |
backed down, France is not going to push this issue, it wanted it to | :06:48. | :06:51. | |
happen very quickly. Angela Merkel said, let the British have time. The | :06:52. | :06:55. | |
French have clearly decided that is the necessary way to go forward, | :06:56. | :07:00. | |
there is not going to be under you for -- undue pressure from France. | :07:01. | :07:06. | |
There will be a period of preparation and it won't happen | :07:07. | :07:11. | |
until early next year. The third thing that got me is where Francois | :07:12. | :07:13. | |
Hollande put his foot down, when there was a question about this | :07:14. | :07:18. | |
trade-off between free movement of people and access to the single | :07:19. | :07:22. | |
market. Francois Hollande was quite clear, disc he said, is what the | :07:23. | :07:26. | |
negotiations will be all about. In other words, the can't expect that | :07:27. | :07:32. | |
these freedoms are separable, a bit of one and a bit of the other, as | :07:33. | :07:35. | |
far as the French are concerned, they all come together as a package. | :07:36. | :07:39. | |
It's a tough line but it's his opening gambit, what else would he | :07:40. | :07:43. | |
say at this stage? A point about body language and the relationship, | :07:44. | :07:47. | |
clearly, it's always problematic, relations between French and British | :07:48. | :07:50. | |
leaders, they don't instinctively get on together, but there was a | :07:51. | :07:54. | |
kind of affability. Helped by Francois Hollande's character, which | :07:55. | :07:59. | |
is very genial, we saw him smiling away, joking and various questions. | :08:00. | :08:04. | |
And praising her. Because he, of course, has known of her, at least, | :08:05. | :08:08. | |
from her work with the Interior Ministry, over Calais, they know | :08:09. | :08:13. | |
Theresa May here and they rate her, they value her, that's a good sign. | :08:14. | :08:20. | |
To US politics, the latest on the Republican National Convention in | :08:21. | :08:24. | |
Cleveland, Ohio. An eventful week, not short on drama. | :08:25. | :08:28. | |
On Wednesday night Ted Cruz was one of the key speakers - | :08:29. | :08:30. | |
remember him - he ran against Donald Trump in the primaries. | :08:31. | :08:33. | |
Well perhaps unsurprisingly, he didn't endorse Mr Trump | :08:34. | :08:35. | |
during his speech - this is how that went down. | :08:36. | :08:46. | |
God bless the United States of America. BOOING. | :08:47. | :08:54. | |
Anthony Zurcher is at the convention for us in Cleveland. | :08:55. | :09:12. | |
Katty Kay is that the Republican convention. Donald | :09:13. | :09:16. | |
Ted Cruz got his revenge after all that Donald Trump said about him in | :09:17. | :09:23. | |
the primaries. He gave a mini press conference to delegates from taxes | :09:24. | :09:27. | |
in which he made it clear the reason he hasn't endorsed Donald Trump, | :09:28. | :09:29. | |
apart from policy differences between them, is because Donald | :09:30. | :09:34. | |
Trump had criticised his wife, Heidi, suggesting she wasn't very | :09:35. | :09:38. | |
good looking, and somehow accused Ted Cruz's father in being involved | :09:39. | :09:43. | |
in the assassination of JFK. As Ted Cruz said, this is personal, then | :09:44. | :09:46. | |
things get personal and somebody attacks your wife and your father | :09:47. | :09:50. | |
it's hard to see how you can support them. I have to say I've never heard | :09:51. | :09:54. | |
anything like I heard last night, I've never been to a convention and | :09:55. | :09:58. | |
this is my seventh, where somebody speaking on that stage behind me was | :09:59. | :10:02. | |
booed by members of the audience in the way Ted Cruz was. There is a | :10:03. | :10:09. | |
counter theory going round that this is a diss unified party and | :10:10. | :10:12. | |
convention and that Ted Cruz may have done more to rally this | :10:13. | :10:15. | |
audience in this convention behind Donald Trump than anything Mr Trump | :10:16. | :10:21. | |
could have done himself. That man Donald Trump will make his big | :10:22. | :10:24. | |
speech tonight, any clues on what to expect from that? What Republican | :10:25. | :10:32. | |
strategists are saying today is that the key for him is to unify the | :10:33. | :10:36. | |
Republican party, that it's going to make it even harder for him to win | :10:37. | :10:39. | |
in November in what is already a tough contest for him, if the party | :10:40. | :10:43. | |
is fractured and the people who travelled here to Cleveland aren't | :10:44. | :10:47. | |
committed to working for him as hard as they can, committed to | :10:48. | :10:51. | |
fundraising, getting out the vote, manning the phone banks, doing what | :10:52. | :10:54. | |
they can to get friends, neighbours, employees to vote for Donald Trump. | :10:55. | :10:58. | |
He really needs that come he needs the party infrastructure. The | :10:59. | :11:01. | |
overriding challenge after this slightly chaotic diss unified | :11:02. | :11:06. | |
convention, much more so than I've ever seen, is for him to stand up | :11:07. | :11:12. | |
there ran the presidential and persuade them he can be | :11:13. | :11:15. | |
presidential, reach out to members of the party who aren't in favour of | :11:16. | :11:20. | |
him at the moment. Every day something happens to make things, | :11:21. | :11:23. | |
this is going to be the most bad-tempered campaign anyone can | :11:24. | :11:26. | |
remember. Once again we can that today. You know what, we haven't | :11:27. | :11:30. | |
really talked about the mood around the convention hall and on the | :11:31. | :11:35. | |
floor, particularly the mood against Hillary Clinton. To the extent | :11:36. | :11:39. | |
Republicans are unified. They seem to be unified in what I can only | :11:40. | :11:45. | |
describe as a real visceral hatred of Hillary Clinton the Democratic | :11:46. | :11:47. | |
nominee, they have signs on the floor when I've been down, lock her | :11:48. | :11:52. | |
up. Chanting lock her up, she's a liar. One delegate from Rhode | :11:53. | :11:58. | |
Island, when I asked her why she didn't like her, she said, she's a | :11:59. | :12:03. | |
liar and evil. That's the extent of their dislike. There is a nastier | :12:04. | :12:07. | |
mood amongst some people outside the convention hall, some of the things | :12:08. | :12:11. | |
they are selling and saying about Hillary Clinton, it'll be | :12:12. | :12:14. | |
interesting to see how she handles that next week when it's the turn of | :12:15. | :12:20. | |
Democrats. One thing causing a stir, Donald Trump in the New York Times | :12:21. | :12:25. | |
saying America wouldn't necessarily defend a Nato Baltic state against | :12:26. | :12:31. | |
Russian aggression. In any other convention time that would have been | :12:32. | :12:35. | |
the headline of the day, quite a grin, I don't think any presidential | :12:36. | :12:39. | |
candidate from either party has ever suggested that they would overrule | :12:40. | :12:44. | |
Article five of Nato, which says any Nato member must come to the defence | :12:45. | :12:48. | |
of another Nato member. Specifically when pushed on the Baltic states, | :12:49. | :12:51. | |
Donald Trump didn't say, of course the United states would defend the | :12:52. | :12:56. | |
Baltic state against Russian aggression, instead he would say, we | :12:57. | :12:59. | |
have to look at whether they met their commitments. Not reassuring to | :13:00. | :13:05. | |
countries like Estonia. Katty Kay in Cleveland, Ohio. More later on this. | :13:06. | :13:11. | |
The Russian athletics team won't be allowed to compete at the Olympic | :13:12. | :13:15. | |
Games. Russia says it deeply regret the decision. | :13:16. | :13:25. | |
In manhunt under way for two men who attempted to abduct a service man in | :13:26. | :13:34. | |
Norfolk. He was approached by the pair, one of whom tried to grab him, | :13:35. | :13:37. | |
but he was able to fight them off and run away. While the motive | :13:38. | :13:41. | |
remains unclear they can't rule out terrorism. The joint investigation | :13:42. | :13:47. | |
team is taking the lead with Norfolk Constabulary, that is the level of | :13:48. | :13:49. | |
seriousness we are treating this incident with. Norfolk police are | :13:50. | :13:54. | |
taking the lead on this, our anti-terrorist officers involved? | :13:55. | :13:58. | |
Clearly we are working closely with colleagues from the region and new | :13:59. | :14:05. | |
Scotland Yard. We are the prime ones holding the investigation, we are | :14:06. | :14:08. | |
liaising closely with military personnel outside a military base. | :14:09. | :14:14. | |
You're saying this is still a criminal investigation. This is a | :14:15. | :14:19. | |
criminal investigation with the main line of enquiry being treated as a | :14:20. | :14:22. | |
attempted abduction at this time. You're with Outside Source. Our top | :14:23. | :14:36. | |
story, the federal police in Brazil have arrested ten members of a | :14:37. | :14:40. | |
terrorist cell just over two weeks before the start of the Rio | :14:41. | :14:46. | |
Olympics. Other stories being reported around the BBC right now, a | :14:47. | :14:50. | |
French prosecutor has given more details about the investigation into | :14:51. | :14:51. | |
the Nice truck attack. He says the attacker had help | :14:52. | :14:54. | |
organising the mass killing, Political pressure is mounting | :14:55. | :14:56. | |
on the Malaysian Prime Minister, Najib Razak, after a US lawsuit | :14:57. | :15:05. | |
appeared to link him to a multi-billion-dollar fraud | :15:06. | :15:07. | |
investigation related He has consistently | :15:08. | :15:08. | |
denied wrongdoing - and is not named in | :15:09. | :15:15. | |
the US legal action. BBC World Service radio | :15:16. | :15:18. | |
has that story. And people in the UK are being urged | :15:19. | :15:22. | |
to take Vitamin D supplements by the government during winter | :15:23. | :15:26. | |
months, because there is not enough sunlight at that | :15:27. | :15:28. | |
time of year to produce More about that story | :15:29. | :15:30. | |
on the BBC News App. Russia's track and field | :15:31. | :15:45. | |
team will not compete That decision was upheld | :15:46. | :15:47. | |
by the Court of Arbitration It's all because of this | :15:48. | :15:51. | |
report from the World Anti Doping Agency - | :15:52. | :15:57. | |
the dry sounding 'independent Commission report number One', | :15:58. | :15:59. | |
which details what it called widespread, state-sponsored doping | :16:00. | :16:01. | |
in Russian athletics. There has been a lot | :16:02. | :16:02. | |
of reaction already. Lord Coe is the head of the body | :16:03. | :16:05. | |
which runs world athletics. He said 'This is not a day | :16:06. | :16:07. | |
for triumphant statements. I didn't come into this sport | :16:08. | :16:10. | |
to stop athletes from competing. The champion Russian | :16:11. | :16:18. | |
pole-vaulter Yelena Isinbayeva called the decision | :16:19. | :16:20. | |
the 'funeral for Athletics'. Steve Rosenberg has | :16:21. | :16:23. | |
more from Moscow. Near Moscow today they were | :16:24. | :16:27. | |
battling for medals. This event was supposed to be final | :16:28. | :16:29. | |
preparation for the summer Olympics. But Russian track and field | :16:30. | :16:39. | |
is banned from international competition because of doping | :16:40. | :16:41. | |
allegations. Today, more than 60 athletes | :16:42. | :16:45. | |
lost their appeal in sport's highest Because the great aim | :16:46. | :16:47. | |
for all professional athletes is to be part of the Olympic Games | :16:48. | :17:00. | |
and to get medals. For Maria Kuchina, Rio would have | :17:01. | :17:12. | |
been her first Olympic Games. "It's not fair, clean | :17:13. | :17:17. | |
sportsmen should be allowed Russian officials say today's court | :17:18. | :17:19. | |
decision has robbed Russian track and field athletes of their Olympic | :17:20. | :17:29. | |
dream but the nightmare scenario for Moscow would be a ban | :17:30. | :17:38. | |
on all Russian sportsmen in Rio, the entire team and that will be | :17:39. | :17:41. | |
for the International Olympic That's because this week | :17:42. | :17:43. | |
the World Anti-Doping Agency presented evidence of cheating | :17:44. | :17:47. | |
by Russia in 30 sports, with the help of a secret doping | :17:48. | :17:50. | |
programme. When I spoke to the Head | :17:51. | :17:53. | |
of the Russian Athletics Federation, state-sponsored doping and he called | :17:54. | :17:55. | |
today's court ruling Six time Olympic champion, | :17:56. | :17:59. | |
Usain Bolt, in London today. of people and send a strong message | :18:00. | :18:17. | |
and let them know the sport is clean, we want to | :18:18. | :18:21. | |
clean the sport up. But if Rio does go ahead | :18:22. | :18:24. | |
without Russia, it'll be humiliating for Moscow and this | :18:25. | :18:28. | |
could mark a new low in relations between Russia | :18:29. | :18:31. | |
and the West. Time for business with a political | :18:32. | :18:44. | |
tinge. I've already been talking to Katty Kay. We'll hear from Donald | :18:45. | :18:48. | |
Trump later denied but let's turn our attention to what the Donald | :18:49. | :18:50. | |
Trump effect will have, is likely to have, on business. Michelle is in | :18:51. | :18:57. | |
New York. Is there a unity in the business world on what they think of | :18:58. | :19:03. | |
a potential resident trump? Not even close, if you just look at one of | :19:04. | :19:08. | |
the speakers from yesterday evening, Peter Teal who made his fortune on | :19:09. | :19:12. | |
PayPal. Many were surprised because if you look, traditionally, many | :19:13. | :19:19. | |
members of silicon Valley have embraced President Obama so the idea | :19:20. | :19:22. | |
someone was speaking at the Republican convention was a | :19:23. | :19:26. | |
surprise. Often this party is seen as pro-big business, and yet this | :19:27. | :19:34. | |
year some of the stances Donald Trump has taken has robbed many | :19:35. | :19:38. | |
people in business the wrong way. Specifically, comments on | :19:39. | :19:43. | |
globalisation and free trade. For those big American corporations who | :19:44. | :19:47. | |
have interests overseas, who do business with China, some of the | :19:48. | :19:50. | |
rhetoric has been worrying. That's interesting because Donald Trump is | :19:51. | :19:57. | |
100% from the business world. That's right, I can't say there is a united | :19:58. | :20:01. | |
front when it comes to the view of corporate America. They seem pretty | :20:02. | :20:05. | |
split, there were many small businesses, billionaires in the | :20:06. | :20:08. | |
cloud at the convention in Cleveland, but there are many who | :20:09. | :20:14. | |
stayed away. -- in the cloud. Wall Street often have a big presence. | :20:15. | :20:23. | |
Comments by Donald Trump a week ago talking about reintroducing | :20:24. | :20:25. | |
legislation that would essentially split up some of the big banks from | :20:26. | :20:30. | |
their riskier businesses, from the traditional banking business. That | :20:31. | :20:35. | |
wasn't too well received. Many of them saying they were staying away | :20:36. | :20:38. | |
because they thought their customers would be absurd. That being said, | :20:39. | :20:42. | |
many are planning to stay away from the Democratic convention as well. | :20:43. | :20:46. | |
Are any of them seeking solace in the likely Democratic nominee | :20:47. | :20:53. | |
Hillary Clinton? That's what's been so fascinating this campaign, one | :20:54. | :20:57. | |
hand Donald Trump talking about anti trade rhetoric, Bernie Sanders on | :20:58. | :21:00. | |
the Democratic side taking a anti-war street position, and | :21:01. | :21:06. | |
forcing Hillary to move her position on trade. She was supported of some | :21:07. | :21:13. | |
of President Obama's trade deals, but as a result of some of the | :21:14. | :21:17. | |
campaigning, the language from Bernie Sanders, she was forced to | :21:18. | :21:21. | |
walk that back. Particularly hard image: campaigning in the primaries, | :21:22. | :21:29. | |
in part over the anger because of the trade deals done under the Obama | :21:30. | :21:33. | |
Administration. -- particularly hard hit in Michigan. | :21:34. | :21:39. | |
It's been one month since Britain voted to leave the European Union. | :21:40. | :21:44. | |
The ECB said it expected rates to remain at record lows for an | :21:45. | :21:53. | |
extended period. Here is Mario druggie. Following the EU referendum | :21:54. | :22:00. | |
on EU membership, howitzers and is that financial markets have | :22:01. | :22:04. | |
weathered a spike in uncertainty. -- Mario Draghi. EasyJet hasn't been as | :22:05. | :22:11. | |
resilient, warning its profits have been damaged by the decline in the | :22:12. | :22:14. | |
value of the pound after the Brexit wrote. Passenger numbers are up but | :22:15. | :22:18. | |
the airline is earning less per head. Here is one analyst on my | :22:19. | :22:24. | |
EasyJet is struggling. EasyJet clearly have a problem, they | :22:25. | :22:27. | |
announced their fuel costs have gone up 40 million in the four weeks | :22:28. | :22:30. | |
since the Brexit Road because of the collapse of the pound against the | :22:31. | :22:37. | |
dollar. EasyJet is reliant on France as a destination and departure | :22:38. | :22:41. | |
point. They are the largest airline into Nice airport. The events in | :22:42. | :22:45. | |
Nice have ensured numbers will probably fall substantially in | :22:46. | :22:49. | |
future. All airlines will face the fact fuel has gone up in pound | :22:50. | :22:53. | |
terms. An Eastern European airline has announced it will reduce growth | :22:54. | :23:00. | |
to the UK because the number of Eastern Europeans will probably | :23:01. | :23:05. | |
fall. Americans and people from the far east are deciding Europe is not | :23:06. | :23:10. | |
the place to go this summer. One last Brexit related story. The bank | :23:11. | :23:16. | |
has been hit by libel borrowing claims, now it is the shock of | :23:17. | :23:22. | |
Britain leaving the European Union. Here is Simon Gompertz. Eight years | :23:23. | :23:28. | |
ago the panicked queues as Northern Rock and other banks had to be | :23:29. | :23:34. | |
rescued. The UK's financial crisis was one of the worst. Today, British | :23:35. | :23:41. | |
banks are still struggling. RBS lost over $1 billion in the first three | :23:42. | :23:45. | |
months of this year. Barclays was blamed in the libel scandal, and | :23:46. | :23:51. | |
tainted by it to the rigging of the foreign market. -- bivvy libor | :23:52. | :24:00. | |
scandal. Lloyd's crippled by a $21 billion bill for mis-selling loan | :24:01. | :24:06. | |
insurance. Now they all face Britain leaving the European Union. The | :24:07. | :24:11. | |
seriousness of Brexit for the banking community can't be | :24:12. | :24:15. | |
understated. I don't want to be overly pessimistic. But it's | :24:16. | :24:19. | |
actually a question that keeps coming back to uncertainty. Now | :24:20. | :24:26. | |
there is a new threat for the traditional players, ultra-low-cost | :24:27. | :24:30. | |
bank like atom bank, which operate only, or mainly, from apps, and bank | :24:31. | :24:39. | |
as well. And Starling bank just got its licence, promising to steal | :24:40. | :24:46. | |
millions of customers. ITunes has transformed music, Amazon has | :24:47. | :24:50. | |
transformed shopping, nobody has yet transformed banking and I hope we'll | :24:51. | :24:54. | |
be the bank that does that. One of the biggest transformations, | :24:55. | :25:01. | |
contactless payment... Is that it? Is something the big banks claim as | :25:02. | :25:06. | |
their success story, which needed massive reach to be managed | :25:07. | :25:11. | |
effectively. They savour the moment their control of payment systems | :25:12. | :25:14. | |
make them hard for Challenger banks to beat. The battle for customers | :25:15. | :25:18. | |
will now have to be fought against the background of Brexit. Economists | :25:19. | :25:23. | |
say interest rates will have to be lower for longer and that will hit | :25:24. | :25:27. | |
the profits of banks. And then there's the question of how much | :25:28. | :25:32. | |
banks based in the City of London, for instance, will be allowed to | :25:33. | :25:38. | |
trade across the European Union. As competition from new players hots | :25:39. | :25:42. | |
up, the uncertainty over Brexit couldn't have come at a worse time | :25:43. | :25:50. | |
for banks. Stay with us on Outside Source. One story we'll cover after | :25:51. | :25:52. | |
the weather, Florida police officer who shot and wounded an unarmed | :25:53. | :25:56. | |
black man while he was trying to help a patient with autism. That | :25:57. | :25:58. | |
story coming up soon. | :25:59. | :26:02. |