Browse content similar to 24/01/2017. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Hello, I'm Ros Atkins, this is Outside Source. | :00:07. | :00:09. | |
President Trump has signed executive orders to reverse blocks on two | :00:10. | :00:12. | |
We will build our own pipeline. We will build our own pipes. That's | :00:13. | :00:26. | |
what it has to do with, like we used to in the old days. | :00:27. | :00:38. | |
The UK Supreme Court has ruled that Parliament, not the Government, | :00:39. | :00:40. | |
should be responsible for triggering the Brexit process. | :00:41. | :00:42. | |
We'll report from Westminster and from Brussels. | :00:43. | :00:44. | |
Israel has approved plans to build 2500 new homes | :00:45. | :00:46. | |
in the occupied West Bank, the second announcement | :00:47. | :00:48. | |
of new construction since President Trump took office. | :00:49. | :00:52. | |
And not a good day for the bookmakers, just as we thought, | :00:53. | :00:55. | |
La La Land is leading the way in the Oscar nominations. | :00:56. | :01:15. | |
Donald Trump has revived plans for two hugely | :01:16. | :01:17. | |
They're called Keystone XL and Dakota Access. | :01:18. | :01:21. | |
We can see them here on this map supplied by the authorities. | :01:22. | :01:31. | |
Keystone is in green. It runs from Canada to Kansas. Dakota Access | :01:32. | :01:39. | |
would run from north Dakota to ill now. -- Illinois. | :01:40. | :01:43. | |
Here is a statement released by senator Bernie Sanders. | :01:44. | :01:47. | |
"Today President Trump ignored the voices of millions and put | :01:48. | :01:50. | |
the short-term profits of the fossil fuel industry ahead | :01:51. | :01:53. | |
This, though, is how the President sees things. | :01:54. | :02:00. | |
This is construction of pipelines in this country. We are and I am very | :02:01. | :02:09. | |
insistent that if we're going to build pipelines in the United | :02:10. | :02:13. | |
States, the pipes should be made in the United States. Unless there's | :02:14. | :02:18. | |
difficulty with that because companies are going to have to gear | :02:19. | :02:23. | |
up, much pipeline is bought from other countries. From now on we will | :02:24. | :02:26. | |
make pipeline in the United States. We build it in the United States, we | :02:27. | :02:32. | |
build the pipelines. We want to build the pipe. Got to put a lot of | :02:33. | :02:35. | |
steel workers back to work. A short while ago, | :02:36. | :02:38. | |
the White House press secretary, "This decision will create jobs and | :02:39. | :02:46. | |
that the environment is a priority." President Trump is known to have had | :02:47. | :02:51. | |
partial investments in two of the parent companies overseeing the | :02:52. | :02:54. | |
development of the Dakota Pipeline. A spokesperson for him announced | :02:55. | :02:57. | |
late last year that he'd sold off his stocks, but it remains unclear | :02:58. | :02:59. | |
when that occurred. Let's go now to | :03:00. | :03:04. | |
Washington to Katty Kay. The President would have been under | :03:05. | :03:10. | |
no illusions how controversial this would have been. No President Obama | :03:11. | :03:16. | |
delayed this to carry out environmental studies because of his | :03:17. | :03:20. | |
concerns from environmentalists. In some ways this is not really an | :03:21. | :03:25. | |
economic issue. This has become a symbol of the environmental fight of | :03:26. | :03:29. | |
the concerns for the environment versus creation of jobs. It's clear | :03:30. | :03:32. | |
that, under the Trump administration, jobs are going to | :03:33. | :03:35. | |
win. I spoke it a senior Republican senator just after that signing took | :03:36. | :03:39. | |
place. He sits on the energy committee, on the environmental | :03:40. | :03:43. | |
committee and he told me that he's thrilled by this. It shows that | :03:44. | :03:48. | |
Donald Trump really is committed to two things: Deregulation and | :03:49. | :03:52. | |
building jobs in the United States. Now environmentalists really hate | :03:53. | :03:57. | |
the Keystone pipeline and Dakota pipeline, one, because it goes | :03:58. | :04:02. | |
through hallowed ground of native Americans and on the Keystone | :04:03. | :04:07. | |
pipeline, it's bringing oil from the tar sands of Canada, one of the most | :04:08. | :04:12. | |
environmentally unfriendly ways to extract oil from the ground. On a | :04:13. | :04:15. | |
lot of fronts environmentalists don't like this. When you speak to | :04:16. | :04:19. | |
the Republicans you're referring to, who are delighted about this, do | :04:20. | :04:22. | |
they care that this potentially makes them look as if they disregard | :04:23. | :04:26. | |
the environment or do they reject that argument outright? You hear | :04:27. | :04:31. | |
Donald Trump today also saying that he is an environmentalist. They will | :04:32. | :04:35. | |
tell thaw they are concerned about the environment and the Republican | :04:36. | :04:38. | |
senator I spoke to said we can have clean air and we can have clean | :04:39. | :04:42. | |
water and we can do it in conjunction with jobs, the two don't | :04:43. | :04:45. | |
have to be set up against each other. Critics of the pipe lines say | :04:46. | :04:51. | |
that's not possible. You heard Bernie Sanders saying that America | :04:52. | :04:55. | |
is sacrificing the long-term future of the planet for the fossil fuel | :04:56. | :04:58. | |
industry. Make no mistake about it, though, this is a change that is | :04:59. | :05:01. | |
going to stay here in the United States. Donald Trump made it | :05:02. | :05:07. | |
absolutely clear during his campaign that he favoured more energy | :05:08. | :05:12. | |
exploration, production and use and he is in favour of deregulating the | :05:13. | :05:16. | |
fossil fuel industries. Environmentalists won't like it, but | :05:17. | :05:19. | |
it's here to stay. Here is the second thing to ask you about. Let | :05:20. | :05:25. | |
me show this to you. A short while ago, the whous press secretary Sean | :05:26. | :05:26. | |
Spicer held a briefing. His first two appearances in the job | :05:27. | :05:39. | |
both featured him defending Mr Trump's erroneous claims | :05:40. | :05:42. | |
that the inauguration crowd The one today featured Mr Spicer | :05:43. | :05:44. | |
defending Mr Trump's renewed claim that there were millions | :05:45. | :05:47. | |
of fraudulent votes in the election. It's a claim backed up by no | :05:48. | :05:50. | |
evidence whatsoever. REPORTER: Does the President believe | :05:51. | :05:55. | |
that millions voted illegally in that election and what evidence do | :05:56. | :05:58. | |
you have of widespread voter fraud, if that's the case? The President | :05:59. | :06:00. | |
does believe that. He stated that before. He stated his concerns of | :06:01. | :06:03. | |
voter fraud and people voting illegally during the campaign. He | :06:04. | :06:10. | |
continues to maintain that belief. REPORTER: Exactly what evidence. | :06:11. | :06:14. | |
Senator Ryan says that's there evidence, the national association | :06:15. | :06:17. | |
of secretaries of states say they don't agree with the President's | :06:18. | :06:19. | |
assessment, what evidence do you have? As I said, I think the | :06:20. | :06:24. | |
President has believed that for a while based on studies and | :06:25. | :06:27. | |
information he has. Back to catty. He's got a tough job, Mr Spicer, | :06:28. | :06:32. | |
defending the claims when there's nothing to back them up. Key words, | :06:33. | :06:36. | |
studies and information. Of course, we want to though what the studies | :06:37. | :06:39. | |
and information are because nobody else has seen any evidence | :06:40. | :06:43. | |
suggesting there was widespread voter fraud. You've had Republican | :06:44. | :06:49. | |
secretaries of state and officials say widespread voter fraud and | :06:50. | :06:53. | |
illegal immigrants voting or people voting illegally simply did not | :06:54. | :06:56. | |
happen in their state. He's setting himself up against the Republican | :06:57. | :07:02. | |
establishment here. Why? Why say something like this that dominates | :07:03. | :07:05. | |
the news cycle when you're doing an awful lot in terms of actual policy | :07:06. | :07:10. | |
changes that may very well be quite popular with American voters, but | :07:11. | :07:14. | |
then gets overshadowed by something like this. Sean Spicer couldn't | :07:15. | :07:19. | |
point to those documents and evidence and studies because as far | :07:20. | :07:22. | |
as we know, they simply don't exist. Those are the two issues I was | :07:23. | :07:25. | |
planning to ask you about, I have one other thing. I was listening to | :07:26. | :07:28. | |
a clip of Donald Trump at the beginning of the programme, I | :07:29. | :07:31. | |
thought, there's an interesting phrase in what he said earlier. Just | :07:32. | :07:35. | |
listen to this again and his reference to the past. We will build | :07:36. | :07:41. | |
our own pipeline. We will build our own pipes. That's what it has to do | :07:42. | :07:45. | |
with. Like we used to, in the old days. The old days, he's talking | :07:46. | :07:53. | |
about. There say nostalgia about the way Mr Trump ran his campaign and | :07:54. | :07:56. | |
now how he's running his presidency. It's interesting that you picked | :07:57. | :07:59. | |
that up. I was thinking exactly the same thing when I heard it. That's | :08:00. | :08:04. | |
what the phrase "make America great again" you could argue the most | :08:05. | :08:08. | |
important word in that phrase is "again". There is a nostalgia in | :08:09. | :08:13. | |
this administration for an era where there was less crime and less drugs | :08:14. | :08:18. | |
and things were simpler and people had jobs and arguably at a time when | :08:19. | :08:23. | |
America was whiter and more homogeneous. Is Mr Trump running up | :08:24. | :08:28. | |
against the course of history? Has the globalisation train left the | :08:29. | :08:31. | |
station? And is he going to find that he cannot take America back to | :08:32. | :08:35. | |
a world where protectionism ruled and things were made only in America | :08:36. | :08:40. | |
and that world has changed, that technology is changing that world, | :08:41. | :08:43. | |
frankly, as fast as anything else. And this idea that it's going to be | :08:44. | :08:47. | |
like the old days, it really isn't, because I'm moves forward. It is | :08:48. | :08:51. | |
doing so at a very fast pace right around the world. Thank you very | :08:52. | :08:54. | |
much indeed. We'll speak through the week. | :08:55. | :09:00. | |
That issue of protectionism, we will speak to Samira Hussain in New York | :09:01. | :09:05. | |
about that. Mr Trump has been talking to the US autoindustry. The | :09:06. | :09:10. | |
message is, if you want to sell cars in the US, make them in the US. Back | :09:11. | :09:13. | |
to Washington and New York in a little white. We must turn to what | :09:14. | :09:16. | |
has been by far the biggest story here in the UK today. | :09:17. | :09:21. | |
The UK Supreme Court has ruled the British Parliament must | :09:22. | :09:24. | |
approve the formal start of Brexit negotiations. | :09:25. | :09:26. | |
In other words, Prime Minister Theresa May can't take | :09:27. | :09:28. | |
Let's go through the reaction of the parties. | :09:29. | :09:32. | |
Here's Jeremy Corbyn, leader of the Opposition Labour Party. | :09:33. | :09:40. | |
We want to make sure that process goes ahead, but we also want to make | :09:41. | :09:47. | |
sure that our Government is held to account throughout this process, so | :09:48. | :09:51. | |
they don't turn Britain into a tax haven on the shores of Europe. We | :09:52. | :09:58. | |
actually maintain living standards being, we improve -- standards, we | :09:59. | :10:03. | |
improve living standards and improve workers' rights and have market | :10:04. | :10:06. | |
access to Europe. That's the Labour Party. Next let's talk about another | :10:07. | :10:10. | |
significant elements of this ruling. is that the Scottish Parliament | :10:11. | :10:13. | |
and the Welsh and Northern Irish Assemblies, will not be formally | :10:14. | :10:15. | |
asked to approve the triggering Here's Scotland's First | :10:16. | :10:18. | |
Minister, Nicola Sturgeon. I think it's a matter of democratic | :10:19. | :10:31. | |
principle that the Scottish Parliament, on such a big, | :10:32. | :10:34. | |
fundamental issue, with so many implications for the devolved | :10:35. | :10:37. | |
settlement should have a say on whether or not it consents to the | :10:38. | :10:41. | |
triggering of Article 50. We will forward a motion that allows the | :10:42. | :10:44. | |
Scottish Parliament to do that. I would hope the UK Government would | :10:45. | :10:45. | |
pay attention to it. Tim Farron, leader of | :10:46. | :10:53. | |
the Liberal Democrats tweeted, "The Lib Dems are clear, | :10:54. | :10:55. | |
we demand a vote of the people on the final deal and without that, | :10:56. | :10:58. | |
we will not vote for A 50." The biggest single question | :10:59. | :11:01. | |
here is whether this ruling will delay the start | :11:02. | :11:05. | |
of the Brexit negotiations. Brexit secretary, David Davies, | :11:06. | :11:08. | |
doesn't think so. P We will, within days, introduce | :11:09. | :11:17. | |
legislation to give the Government the legal power to trigger Article | :11:18. | :11:22. | |
50 and begin the formal process of withdrawal. It will be separate to | :11:23. | :11:26. | |
the great repeal bill that will be introduced later this year, to | :11:27. | :11:29. | |
repeal the European Communities Act 1972. This will be the most | :11:30. | :11:35. | |
straightforward bill possible to give effect the decision of the | :11:36. | :11:39. | |
people and respect the Supreme Court's judgment. The purpose of the | :11:40. | :11:44. | |
bill is simply to give the Government the power to invoke | :11:45. | :11:46. | |
Article 50. On one level, it looks to be hugely | :11:47. | :11:51. | |
significant and it's certainly a high profile defeat | :11:52. | :11:56. | |
for the Government. On another level, the time table | :11:57. | :11:58. | |
of Brexit doesn't appear Here's Rob Watson at Westminster | :11:59. | :12:01. | |
with his reading of the story. On one level, it is deeply | :12:02. | :12:10. | |
significant if you're interested in the constitutional, legal | :12:11. | :12:12. | |
arrangements for the United Kingdom. But actually, will it have much | :12:13. | :12:16. | |
difference, make much difference politically? I don't think so. I | :12:17. | :12:19. | |
mean, it's true that the Supreme Court has now said it's Parliament | :12:20. | :12:23. | |
that has to give approval, not just the Prime Minister. But of course, | :12:24. | :12:26. | |
that would only be a massive story if Parliament were somehow going to | :12:27. | :12:29. | |
come to the rescue of those would want Britain to stay in the European | :12:30. | :12:34. | |
Union. Though it's perfectly true that most MPs personally voted to | :12:35. | :12:39. | |
remain, I don't think there's any mood or majority for somehow | :12:40. | :12:43. | |
blocking or delaying Brexit. Big day legally. Is it going to somehow | :12:44. | :12:48. | |
stop, complicate, super delay Brexit? I don't think so. | :12:49. | :12:52. | |
Run us through exactly what has to happen in the House of Commons and | :12:53. | :12:56. | |
the House of Lords before Article 50's triggered. In the next couple | :12:57. | :13:00. | |
of days, possibly as early as Thursday, the Government will | :13:01. | :13:03. | |
introduce a bill, presumably a very short one basically saying something | :13:04. | :13:06. | |
like, we recognise that the Government should now begin the | :13:07. | :13:10. | |
Article 50 process. That will then have to be voted on in the House of | :13:11. | :13:14. | |
Commons and in the House of Lords. Ideally from the Government's point | :13:15. | :13:17. | |
of view, all in the next couple of weeks. A quick word about the | :13:18. | :13:21. | |
Opposition Labour Party. The majority of its MPs supported | :13:22. | :13:24. | |
staying in the European Union. How's it going to play this issue? The | :13:25. | :13:29. | |
Opposition Labour Party is just in a horrible position. What it's saying | :13:30. | :13:33. | |
it will do is it won't block Brexit, but it will try to hold the | :13:34. | :13:36. | |
Government to account. I say the Opposition Labour Party's in a | :13:37. | :13:40. | |
horrible position because half of its MPs represent constituencies | :13:41. | :13:44. | |
where people voted to leave the European Union. About the other half | :13:45. | :13:48. | |
of their MPs voted in constituencies where people very much wanted to | :13:49. | :13:52. | |
remain in the EU. It's in a very, very difficult position. Actually, | :13:53. | :13:57. | |
to get the big politics picture on this, I don't think that the real | :13:58. | :14:01. | |
problems for Theresa May are going to be managing Parliament, at least | :14:02. | :14:04. | |
in the short-term. Her real political problems are going to be | :14:05. | :14:08. | |
when her Brexit plan meets the reality of negotiating with the | :14:09. | :14:12. | |
other EU 27 and perhaps even longer term than that, in keeping the union | :14:13. | :14:18. | |
here in Britain together, because this court ruling very much upset | :14:19. | :14:22. | |
the Scottish National Party, which is saying possibly it brings a | :14:23. | :14:28. | |
second referendum that bit closer. Having heard Rob say perhaps Theresa | :14:29. | :14:34. | |
May's greatest challenge is in Brussels, I spoke to Jonny Dymond | :14:35. | :14:40. | |
who's there. If you want to sum up the feeling here it's four words: | :14:41. | :14:44. | |
Get on with. It the desire very strongly of officials and | :14:45. | :14:48. | |
politicians in Brussels and in other European capitals is that the Brexit | :14:49. | :14:52. | |
negotiations start soon, finish on time and are done with. I think | :14:53. | :14:57. | |
there is an absolute resignation to the fact that Britain is going to | :14:58. | :15:00. | |
leave the European Union. And what leaders of the EU and the officials | :15:01. | :15:05. | |
here in the EU do not want under any circumstances is for Brexit to be | :15:06. | :15:08. | |
the only thing that is discussed in the European Union for the next two, | :15:09. | :15:14. | |
three, five years. There are very major challenges, some of them | :15:15. | :15:18. | |
nothing to do with Brexit, the migration crisis, there is still a | :15:19. | :15:21. | |
banking system to be reformed. There are still the crisis of the euro. | :15:22. | :15:27. | |
Then there are issues thrown up by Brexit, which are not directly | :15:28. | :15:31. | |
related to Britain leaving. That's issues such as how to restore some | :15:32. | :15:35. | |
kind of popular legitimacy to the European Union. What they don't want | :15:36. | :15:38. | |
to be doing is talking the fine details of Brexit, when they want to | :15:39. | :15:42. | |
be trying to work out how to strengthen and maintain the union. | :15:43. | :15:44. | |
For them, getting some kind of certainty over what's going to | :15:45. | :15:49. | |
happen in the next few weeks and getting certainty that Article 50, | :15:50. | :15:52. | |
that resignation note, will be triggered on time, by the end of | :15:53. | :15:55. | |
March, by Theresa May, is the most important thing. | :15:56. | :16:03. | |
In the a few minutes it's Outside Source business. | :16:04. | :16:12. | |
Coming up in a few minutes, on the same day he revives | :16:13. | :16:14. | |
controversial oil pipeline project, Donald Trump tells autoexecutives | :16:15. | :16:16. | |
that to a large extent, he's an environmentalist. | :16:17. | :16:18. | |
We'll pick up on that with Samira Hussain in NYC. | :16:19. | :16:21. | |
A man who was on holiday with his wife in Tunisia has said | :16:22. | :16:24. | |
the Thomson staff he booked the holiday with didn't warn them | :16:25. | :16:26. | |
about any potential security risks, just a month before terrorists | :16:27. | :16:29. | |
Jim Windass, whose wife Claire was killed in the Sousse attack | :16:30. | :16:35. | |
in May 2015, also told the inquest that Thomson staff didn't mention | :16:36. | :16:38. | |
the Foreign Office travel advice available online. | :16:39. | :16:42. | |
Our correspondent, Richard Galpin, was at the | :16:43. | :16:44. | |
This is a really important piece of evidence in this inquest. Of course, | :16:45. | :16:54. | |
the role of the holiday companies is key. It's been discussed already a | :16:55. | :17:00. | |
lot during this inquest, did they provide enough information to the | :17:01. | :17:05. | |
holidaymakers, many of them who booked through Thomson, did they | :17:06. | :17:08. | |
provide sufficient information to the people planning to go to Tunisia | :17:09. | :17:10. | |
at that time? This is Outside Source, live from | :17:11. | :17:26. | |
the BBC Newsroom. Our lead story is: President Trump | :17:27. | :17:32. | |
has signed executive orders to relaunch two controversial oil | :17:33. | :17:35. | |
pipelines in the US. The projects were rejected | :17:36. | :17:38. | |
by Barack Obama following years The Gambian Parliament has skaed | :17:39. | :17:42. | |
the state of emergency imposed last -- scrapped the state of emergency | :17:43. | :17:57. | |
imposed last week by the former President, | :17:58. | :18:07. | |
The new President, Adama Barrow, is expected to return home | :18:08. | :18:14. | |
Organisations that provide sexual Health Services in Africa have | :18:15. | :18:18. | |
criticised President Trump's decision to reinstate a policy | :18:19. | :18:20. | |
that denies them access to American funding. | :18:21. | :18:22. | |
And US authorities have seized $20 million in cash hidden under | :18:23. | :18:25. | |
The money's believed to be linked to a $1 billion pyramid scheme. | :18:26. | :18:35. | |
Stories from the UK, the US and west Africa. Next let's go to Israel. | :18:36. | :18:56. | |
? New homes are going to be built in Israel. The Defence Ministry has | :18:57. | :19:07. | |
said the move is meant to fulfil demand for new housing to maintain | :19:08. | :19:13. | |
regular daily life. The announcement may not be unrelated to the arrival | :19:14. | :19:16. | |
of President Trump in the White House. Mark Lowen can explain. This | :19:17. | :19:23. | |
is the second time in the space of a week that the Israeli government has | :19:24. | :19:31. | |
announced more building in settlements, 2,500 homes to be build | :19:32. | :19:34. | |
in the occupied West Bank announced today. And over the weekend, there | :19:35. | :19:39. | |
was an announcement that over 560 new homes will be built in | :19:40. | :19:43. | |
settlements in occupied east Jerusalem. Both of these | :19:44. | :19:46. | |
announcements coming after the inauguration of Donald Trump. A | :19:47. | :19:49. | |
feeling here that the Israeli government is feeling emboldened, | :19:50. | :19:53. | |
even encouraged by the new administration in the US to build | :19:54. | :19:56. | |
more in the settlements after the relationship between Israel and the | :19:57. | :20:00. | |
US under Barack Obama plummeted, partly over the issue of settlement | :20:01. | :20:06. | |
building. Mr Obama was fiercely opposed to the settlements. He | :20:07. | :20:11. | |
allowed a UN Resolution to pass condemning Israeli building in the | :20:12. | :20:14. | |
settlements. Donald Trump, his son-in-law and pick for US | :20:15. | :20:19. | |
ambassador for Israel have donated to the settlements and will take a | :20:20. | :20:24. | |
more pro-Israeli policy. There is also a feeling that this is done | :20:25. | :20:27. | |
partly for domestic political consumption. The Prime Minister | :20:28. | :20:31. | |
here, Benjamin Netanyahu, is facing a bill challenge at the moment from | :20:32. | :20:35. | |
the -- is facing a big challenge from the far right. He's trying to | :20:36. | :20:39. | |
burnish his credentials by choosing an issue that will go down well with | :20:40. | :20:43. | |
Nationalists. The issue of settlements is so contentious | :20:44. | :20:47. | |
because it violates international law, according to the UN and it is | :20:48. | :20:50. | |
being built in areas that the Palestinians want for a future | :20:51. | :20:54. | |
state, that are going beyond Israel's borders, according to the | :20:55. | :20:59. | |
1967 border demarcation. So the Palestinians have reacted furiously. | :21:00. | :21:03. | |
A spokesman for the Palestinians saying this would foster extremism | :21:04. | :21:07. | |
and terrorism and calling on the international community to take a | :21:08. | :21:11. | |
stand against Israel and against the issue of settlement building. | :21:12. | :21:15. | |
Donald Trump met with executives from the US autoindustry today. | :21:16. | :21:18. | |
We're going to make the process much more simple for the companies and | :21:19. | :21:28. | |
everybody auto else that wants to do business in the United States. I | :21:29. | :21:37. | |
think this you will find this to go from very inhospitable to very | :21:38. | :21:41. | |
hospitable. We will go down as one of the most friend lip companies. | :21:42. | :21:45. | |
Right now it's not. I have friends that want to build in the United | :21:46. | :21:50. | |
States and have to wait years and year and then don't get the | :21:51. | :21:56. | |
approval. Do these car companies like the idea of making cars in the | :21:57. | :22:01. | |
US? It comes at a tricky time. We're seeing a little bit less demand for | :22:02. | :22:05. | |
some cars, but if you talk about cars in the United States, which is | :22:06. | :22:07. | |
really what we're talking about, there is a little bit more demand | :22:08. | :22:12. | |
for SUVs and bigger kinds of cars. It doesn't mean that these car | :22:13. | :22:16. | |
operators need to build new factories. They could revamp the | :22:17. | :22:22. | |
ones they have. It's really interesting to see just how much | :22:23. | :22:26. | |
Donald Trump is speaking directly with corporate America. This is not | :22:27. | :22:29. | |
something we would typically see with an American President. In terms | :22:30. | :22:34. | |
of action, policy that Mr Trump can take in order to encourage these | :22:35. | :22:39. | |
companies to base their manufacturing in the US, what's | :22:40. | :22:43. | |
available to him? What he has said is that he wants to cut back on | :22:44. | :22:47. | |
regulation. So when it comes to regulations in the car industry, it | :22:48. | :22:51. | |
could be anything from taxes, corporate taxes, to anything | :22:52. | :22:56. | |
regarding the environment and emissions or anything limiting in | :22:57. | :23:00. | |
terms of how freely part can travel. And these are some of the issues | :23:01. | :23:07. | |
that the makers have raised auto with Trump in their hour-long | :23:08. | :23:11. | |
meeting in. Terms of what will actually happen, they was short on | :23:12. | :23:16. | |
specifics. When some of the car makers spoke with reporters | :23:17. | :23:18. | |
afterwards they said they believe today was a healthy conversation but | :23:19. | :23:22. | |
no real specifics in terms of what regulations the President is looking | :23:23. | :23:26. | |
to cut. I guess we'll have to give him a little longer to come up with | :23:27. | :23:30. | |
those. Only in the job a few days. Certainly people would like to see | :23:31. | :23:34. | |
them. This is what happened to BT's share price today. | :23:35. | :23:41. | |
down 21%, the biggest slump in the company's history. | :23:42. | :23:43. | |
It's bought BT is writing down the value of its Italian | :23:44. | :23:46. | |
Here's BBC business editor, Simon Jack. | :23:47. | :23:56. | |
It was a real shock, BT's not the kind of company we expect to have | :23:57. | :24:02. | |
profits warnings. It's a very strong company with quite a reliable, | :24:03. | :24:06. | |
dependable and forecastable business. We just don't expect these | :24:07. | :24:11. | |
kind of issues. Why this sudden and very dramatic | :24:12. | :24:15. | |
slump? BT has problems on a number of fronts. Today we learned the | :24:16. | :24:19. | |
accounting scandal in BT's Italian business is much worse than | :24:20. | :24:24. | |
expected. The black hole there has widened from ?145 million to ?530 | :24:25. | :24:29. | |
million. Even more worrying for investors, it warned today that | :24:30. | :24:33. | |
profits in its core business will be 175 million lower this year and | :24:34. | :24:38. | |
next. Now that's down to stagnating revenue from some of its biggest | :24:39. | :24:42. | |
customers, who are not renewing major contracts. Today's news is set | :24:43. | :24:46. | |
against an already uncertain back drop for the company. The company is | :24:47. | :24:51. | |
fighting calls from competitors and the regulator to split off its Open | :24:52. | :24:56. | |
Reach network division. It has one of the biggest pension fund deficits | :24:57. | :24:59. | |
and it's been spending big on entertainment. There's a lot of | :25:00. | :25:05. | |
nervousness around BT at the moment, particularly given the ongoing | :25:06. | :25:08. | |
review of Open Reach and the review of pensions due to happen this year. | :25:09. | :25:12. | |
If there's one thing that investors hate, it's uncertainty. Given the | :25:13. | :25:15. | |
amount of uncertainty there is at the moment any knock to BT sees an | :25:16. | :25:19. | |
amplified effect which we've seen with the share price today. Heads | :25:20. | :25:24. | |
have already started to roll. The BBC has learned tonight the head of | :25:25. | :25:27. | |
BT Europe is expected to resign imminently. All this will put | :25:28. | :25:32. | |
pressure on the ultimate boss, who's been in charge during a period of | :25:33. | :25:36. | |
bold expansion for BT. We're in the process of really building our | :25:37. | :25:42. | |
Broadband business... BT expressed disappointment at I vent in -- | :25:43. | :25:47. | |
events in Italy. Shareholders will be disappointed today too. When a | :25:48. | :25:52. | |
company as big as BT says its biggest company aren't spending | :25:53. | :25:55. | |
money, it's a worry for the wide ere economy. I'm back in a couple of | :25:56. | :25:57. | |
minutes. Bye-bye. | :25:58. | :26:02. |