Browse content similar to 12/06/2017. Check below for episodes and series from the same categories and more!
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Hello and welcome to Outside Source. Theresa May has been saying sorry | :00:12. | :00:18. | |
after the disastrous election result, telling Conservative MPs, | :00:19. | :00:21. | |
I've got us into this mess, I will get us out of it. And with Brexit | :00:22. | :00:27. | |
negotiations bearing down, the Queen's speech, the occasion when | :00:28. | :00:31. | |
government set out it is agenda, is expected to be delayed. We are in | :00:32. | :00:36. | |
talks with the DUP to see if the deal we can put together an | :00:37. | :00:41. | |
optimistic that will happen but until we have that we can't agree | :00:42. | :00:45. | |
the final details of the Queen 's speech. We will hit about Russian | :00:46. | :00:51. | |
police detaining hundreds of people after anti-corruption demonstrations | :00:52. | :00:55. | |
including the leading opposition figure, Alexei Navalny. The press | :00:56. | :00:58. | |
secretary for Donald Trump says a lawsuit over claims the president | :00:59. | :01:01. | |
accepted payments from foreign governments by his biggest empire is | :01:02. | :01:07. | |
politically motivated. And Emmanuel Macron keeps marching on, having | :01:08. | :01:11. | |
taken the presidency, his party is now on course for a landslide in | :01:12. | :01:13. | |
parliamentary elections. Prime Minister Theresa May said of | :01:14. | :01:33. | |
the weekend there was work to do and on that we can all agree. The UK | :01:34. | :01:37. | |
continues to career towards the exit negotiations with seven days to go | :01:38. | :01:42. | |
and this is where we have got to. It remained unclear what type of Brexit | :01:43. | :01:47. | |
the government will seek, no details on the deal the Tories intend to do | :01:48. | :01:52. | |
with the DUP in order to pass laws and the Queen speech, where the | :01:53. | :01:56. | |
government lays out its legislative agenda, may be delayed. This is why | :01:57. | :02:01. | |
that has happened. Obviously we are in talks with the Democratic | :02:02. | :02:05. | |
Unionist Party to see that the deal we can put together and are | :02:06. | :02:09. | |
optimistic that will happen but until we have that we can't agree | :02:10. | :02:13. | |
the final details of the Queen's speech. As soon as we have we will | :02:14. | :02:17. | |
be able to say when the Queen speech will be. The Prime Minister is only | :02:18. | :02:23. | |
in the job because the Tory party neither wants another election nor a | :02:24. | :02:27. | |
leadership contest. That time may come, whether the party likes it or | :02:28. | :02:31. | |
not. For now, this was a Downing Street earlier as the ministers were | :02:32. | :02:36. | |
arriving for the first cabinet meeting since the election and they | :02:37. | :02:39. | |
wanted this to look like business as usual. The Foreign Secretary, Boris | :02:40. | :02:46. | |
Johnson, wrote in the Sun today, trying to fend off speculation that | :02:47. | :02:51. | |
he was angling for the top job. And this was David Davis being similarly | :02:52. | :02:56. | |
supportive. Have the same I view this talk about the leadership at | :02:57. | :03:05. | |
the height of self-indulgence -- I have too safe. The British people | :03:06. | :03:08. | |
have given as a result we would not have chosen but an instruction and | :03:09. | :03:12. | |
it is our job to get on with the work of government and organise | :03:13. | :03:16. | |
arrangements to get business pretty the House of Commons and run the | :03:17. | :03:20. | |
country. She is very good at that. She is an extremely good Prime | :03:21. | :03:25. | |
Minister. At the moment it suits these big players in the Tory party | :03:26. | :03:28. | |
to keep Theresa May as Prime Minister but let's be clear, they | :03:29. | :03:33. | |
hold the cards. The primers to also met a group of influential | :03:34. | :03:37. | |
backbenchers called the 1922 committee. | :03:38. | :03:46. | |
That may be easier said than done. This was from Laura Kuenssberg, our | :03:47. | :04:01. | |
political editor. Earlier I spoke to them right for his latest analysis | :04:02. | :04:05. | |
on the predicament of the Prime Minister. She is clearly a prisoner | :04:06. | :04:12. | |
of her party and the Cabinet and dependent on their support for her | :04:13. | :04:17. | |
continuation in office but she is looking less precarious than she did | :04:18. | :04:21. | |
on Saturday. If there was going to be any move against her it would | :04:22. | :04:26. | |
have happened in the hours after the election humiliation. It hasn't | :04:27. | :04:31. | |
because, as you said, the Tory party does not want a leadership contest | :04:32. | :04:35. | |
days before Brexit begins, they don't want another general election | :04:36. | :04:38. | |
which would surely follow if they were to be a leadership contest. It | :04:39. | :04:45. | |
is coming down and Theresa May, humbled, talked to Tory backbench | :04:46. | :04:50. | |
MPs and was contrite, apologetic about the election result and said | :04:51. | :04:54. | |
she accepted the fact that she was the one who called it and she took | :04:55. | :05:00. | |
responsibility for it. I think she gave reassurances that she would | :05:01. | :05:04. | |
change the way she governed with a more open, collaborative Cabinet and | :05:05. | :05:09. | |
that has done a lot to calm the mood down. Some of the anger will have | :05:10. | :05:15. | |
dissipated a bid among Tory MPs. This is the new reality and they | :05:16. | :05:20. | |
await the confirmation that a deal has been done between the | :05:21. | :05:23. | |
Conservatives and the DUP to allow the formation of a minority | :05:24. | :05:26. | |
government and we expect that to come in the next day or so. Remember | :05:27. | :05:31. | |
how Theresa May said this election was essential to providing strong | :05:32. | :05:35. | |
and stable leadership going into Brexit negotiations? And how on | :05:36. | :05:39. | |
Friday in Downing Street she addressed the country by saying she | :05:40. | :05:41. | |
was creating any government to provide the UK with certainty. | :05:42. | :05:47. | |
Stability and certainty are in short supply at the moment. In a week's | :05:48. | :05:51. | |
time Brexit negotiations begin and it is still not clear exactly what | :05:52. | :05:57. | |
the UK wants from them. This was a senior Conservative MP, Anna Soubry. | :05:58. | :06:05. | |
A hard Brexit means leaving the EU single market and its free movement | :06:06. | :06:09. | |
of labour. A different account from Sir Michael Farnham... -- sur | :06:10. | :06:17. | |
Michael Fallon. And then this perspective from Nicola Sturgeon, he | :06:18. | :06:20. | |
Scottish First Minister, who very much back to the Remain campaign. | :06:21. | :06:24. | |
She wants a spores in the Brexit process. | :06:25. | :06:27. | |
-- a pause. I think the approach the government was taking is dead in the | :06:28. | :06:34. | |
water and I am calling for a process opened up to include more voices | :06:35. | :06:38. | |
that all parties and all four nations of the UK and an approach | :06:39. | :06:42. | |
that has continued membership of the single market at its heart. The | :06:43. | :06:46. | |
Prime Minister has to recognise she asked for a strengthened mandate for | :06:47. | :06:50. | |
a hard Brexit and voters across the country refused to give that and she | :06:51. | :06:54. | |
cannot simply carry on as if nothing has changed. Jackie Davis is Anne | :06:55. | :06:59. | |
Aly list based in Brussels and an expert in the EU -- and analyst. I | :07:00. | :07:04. | |
wanted to know if leaders in Brussels were clear on what the UK | :07:05. | :07:09. | |
wants. I don't think they are. They say they are clear about their | :07:10. | :07:12. | |
negotiating position and are ready to go as soon as the UK is that | :07:13. | :07:17. | |
there is a certain amount of astonishment in Brussels at the mess | :07:18. | :07:20. | |
that the UK seems to have got itself into. And a lot of bemusement | :07:21. | :07:25. | |
because when you see these big elation swirling around Westminster | :07:26. | :07:31. | |
that this increases the chances of a softer Brexit, perhaps a move toward | :07:32. | :07:34. | |
staying in the single market, some of the things those who did not want | :07:35. | :07:38. | |
to leave were hoping for, and others saying that now Theresa May is so | :07:39. | :07:42. | |
weak she will have no room for manoeuvre, that increases the | :07:43. | :07:44. | |
chances of a message Brexit with no deal. People are watching in | :07:45. | :07:49. | |
astonishment but the line from Boston is clear, we are ready, the | :07:50. | :07:52. | |
ball it in your court, we waiting to hear from you and we will start when | :07:53. | :07:57. | |
you want to but remember that the clock is ticking and you still only | :07:58. | :08:01. | |
have until March 2019 to do a deal. Take your time if you need to but | :08:02. | :08:05. | |
don't forget you're up against a deadline. I guess there is a risk | :08:06. | :08:11. | |
that we see this as a contest with a winner and a loser but for the | :08:12. | :08:16. | |
European Union it need a healthy UK and a partner in the UK that can | :08:17. | :08:19. | |
contribute economically and politically? Absolutely. Most people | :08:20. | :08:27. | |
in Brussels are very sorry the UK is going, they did not want to see it, | :08:28. | :08:30. | |
they think it is bad for the EU as well as for the UK and they would | :08:31. | :08:35. | |
say worse for the UK than the EU but nevertheless bad for everyone and | :08:36. | :08:38. | |
they would like a good deal. But they are clear that this is not | :08:39. | :08:43. | |
about doing a deal that makes life easier for Theresa May or whoever is | :08:44. | :08:46. | |
Prime Minister by the time these negotiations end. It is about | :08:47. | :08:51. | |
preserving the club, the other 27 countries, who are determined to | :08:52. | :08:54. | |
stay together and don't want to send the wrong signal to any of the | :08:55. | :08:57. | |
country who might be tempted to go down the same road as the UK. In | :08:58. | :09:03. | |
that sense the election has not changed anything. The EU has always | :09:04. | :09:07. | |
said that we are open to talk but we have certain fundamental principles, | :09:08. | :09:11. | |
four example you can't not be a member of the club and have the | :09:12. | :09:15. | |
benefits, they will stick by those principles and you can't cherry pick | :09:16. | :09:19. | |
them, at the bits you like. And there I is on public opinion in the | :09:20. | :09:22. | |
27 countries who are staying in and not public opinion in the UK. They | :09:23. | :09:28. | |
watched this with amusement but they want clarity soon because the | :09:29. | :09:32. | |
chances of getting a good deal that works for everyone to get slimmer | :09:33. | :09:35. | |
the longer this delay goes -- watching with amusement. -- | :09:36. | :09:44. | |
bemusement. These senior people in Brussels think it is not going to | :09:45. | :09:47. | |
happen behind closed doors? I think they thought that for a long time | :09:48. | :09:51. | |
and over the last few months everybody believed it would. They | :09:52. | :09:54. | |
could not see a scenario under which there might be a second referendum, | :09:55. | :09:58. | |
where Britain might change its mind. But based on these big elation | :09:59. | :10:02. | |
coming out of certain people in Westminster and London, they do | :10:03. | :10:06. | |
think there is a possibility -- on the speculation. I think for most of | :10:07. | :10:12. | |
them here they feel strongly now that the EU faces a lot of other | :10:13. | :10:15. | |
challenges and they need to get on with those. They feel a bit revived, | :10:16. | :10:21. | |
the Franco German axis is used to be working with President Macron doing | :10:22. | :10:24. | |
well in France and there is a sense of optimism over all that they might | :10:25. | :10:28. | |
be on a better path and that Brexit is dragging them down. The primary | :10:29. | :10:33. | |
feeling is, let's get this done one way or another. In a few minutes on | :10:34. | :10:38. | |
Outside Source we will turn to the business side of the Brexit debate. | :10:39. | :10:46. | |
We have a report from Simon Jack on how businesses are viewing these | :10:47. | :10:49. | |
last-minute manoeuvres ahead of the beginning of the negotiations. | :10:50. | :10:58. | |
More on Theresa May's apology to her MPs over the election result. As we | :10:59. | :11:08. | |
heard earlier, she met with the 1922 committee and said she would serve | :11:09. | :11:13. | |
them as long as they wanted her to. Early at the considerate MP Charles | :11:14. | :11:18. | |
Walker said she was well received for taking responsibility for her | :11:19. | :11:22. | |
role in the result of the party still needs to establish exactly | :11:23. | :11:28. | |
what went wrong. There were a lot of searching questions asked at that | :11:29. | :11:31. | |
meeting and we are going to have to find the answers to those questions. | :11:32. | :11:35. | |
There was no sense of euphoria. Of course we would have liked to have | :11:36. | :11:38. | |
done better in the campaign, there is not a single Conservative MP who | :11:39. | :11:43. | |
would not have liked to have done better but the fact is we didn't. We | :11:44. | :11:47. | |
are where we are, we have some difficult questions to ask ourselves | :11:48. | :11:50. | |
but we also have to get on with the business of governing. | :11:51. | :12:06. | |
This is Outside Source live from the BBC newsroom and the lead story is | :12:07. | :12:12. | |
from Westminster where, after losing a parliamentary majority in the | :12:13. | :12:15. | |
election last week, Prime Minister Theresa May has told MPs she got | :12:16. | :12:18. | |
them into this mess and she will get them out of it. Some main stories | :12:19. | :12:23. | |
from the World Service, firstly an investigation is underway after huge | :12:24. | :12:27. | |
hole in China Eastern airlines plane forced it to make an emergency | :12:28. | :12:31. | |
landing in Sydney. It had just taken off en route to Shanghai and | :12:32. | :12:36. | |
passengers noted a burning smell and a loud noise. BBC Arabic reports | :12:37. | :12:42. | |
that Saudi Arabia had introduced what is known as a sin tax on | :12:43. | :12:47. | |
cigarettes and the drinks, part of a wide-ranging plan not just there but | :12:48. | :12:50. | |
across states in the gulf to find ways to make up for a sharp drop in | :12:51. | :12:54. | |
oil revenues. And a lot of people are reading about this, Melania | :12:55. | :12:58. | |
Trump has posted this image shortly after moving into the White House. | :12:59. | :13:03. | |
Donald Trump has been living there for nearly five months but Melania | :13:04. | :13:08. | |
and their son Barron have just moved in after they stayed in New York | :13:09. | :13:13. | |
until Barron completed his school year. Next to Russia because that of | :13:14. | :13:18. | |
people are taking part in anti-corruption protests all over | :13:19. | :13:21. | |
the country will stop the biggest rallies were in Moscow and St | :13:22. | :13:27. | |
Petersburg. The whole thing was organised by the opposition leader, | :13:28. | :13:31. | |
Alexei Navalny. This was on Twitter, this was him being taken into a | :13:32. | :13:36. | |
police car in Moscow earlier. We also have these pictures from one of | :13:37. | :13:40. | |
the demonstrations in Moscow, this was in the city centre am not at the | :13:41. | :13:44. | |
venue that the authorities had sanctioned. That upset the head of | :13:45. | :13:49. | |
the Russian security service who said the move was a provocation. We | :13:50. | :13:54. | |
believe hundreds of people were arrested. Sarah Rainsford was there. | :13:55. | :14:00. | |
There have been dozens of people detained here and police are moving | :14:01. | :14:06. | |
into the crowd and it seems that are pulling people out pretty much at | :14:07. | :14:10. | |
random. We have seen quite a lot of young people being detained but it | :14:11. | :14:14. | |
seems fairly random. They are trying to clear this main street here where | :14:15. | :14:20. | |
thousands of people came out to protest against corruption. They | :14:21. | :14:23. | |
were heeding a call from the opposition leader, Alexei Navalny, | :14:24. | :14:28. | |
who called on them to take part in this protest. It did not have | :14:29. | :14:31. | |
permission, it is an illegal rally and that is why so many people have | :14:32. | :14:35. | |
been pulled out and taken away by police. The police have been | :14:36. | :14:41. | |
announcing and making loudspeaker announcements saying this is an | :14:42. | :14:45. | |
illegal rally and they will be taking measures and there is a huge | :14:46. | :14:50. | |
police presence as you can see. The right place, interior ministry | :14:51. | :14:55. | |
troops as well. This is Russia Day, a national holiday, and this street | :14:56. | :14:58. | |
was closed off for people to celebrate and there were families | :14:59. | :15:01. | |
and children here and then the protesters turned out in huge | :15:02. | :15:05. | |
numbers. They said they were hit to make their voices heard against | :15:06. | :15:08. | |
corruption and were shouting against the authorities but it was a | :15:09. | :15:12. | |
peaceful protest and this is how it is ending with dozens and dozens of | :15:13. | :15:15. | |
people being dragged away by riot police. Next on this story is our | :15:16. | :15:22. | |
course pondered from Russia on why these protests happened. It is a | :15:23. | :15:28. | |
state holiday in Russia and Mr Navalny decided to use this | :15:29. | :15:30. | |
opportunity to call people to demonstrate. He called for massive | :15:31. | :15:36. | |
protests in March and they proved to be successful for him. He decided to | :15:37. | :15:41. | |
keep this going which is why he asked people to come and it was | :15:42. | :15:47. | |
convenient because it was a day off. He asked people to dump the trick is | :15:48. | :15:51. | |
he was allowed to go to another street. That was sanctioned but he | :15:52. | :15:56. | |
decided to switch and use one of the central street and asked people to | :15:57. | :16:00. | |
come there and this part of the rally is illegal and that is the | :16:01. | :16:05. | |
reason there were so many arrests and people detained. How does the | :16:06. | :16:09. | |
scale of these protests compare with the ones in the last few years? The | :16:10. | :16:16. | |
ones in March were the biggest in the last five years. It is hard to | :16:17. | :16:22. | |
really understand how many people came to the streets of Moscow and St | :16:23. | :16:27. | |
Petersburg today because this was combined, some people were just | :16:28. | :16:30. | |
protesting but others were just taking a walk. It is hard to | :16:31. | :16:34. | |
differentiate but we are still talking about thousands of people in | :16:35. | :16:39. | |
Moscow and hundreds in several other Russian cities all across the | :16:40. | :16:43. | |
country from Vladivostok in the far east to the very Western cities like | :16:44. | :16:50. | |
Kaliningrad. And what is the primary target of these protests? Vladimir | :16:51. | :16:53. | |
Putin or something broader? One of the reasons that La Republique En | :16:54. | :17:01. | |
Marche is successful is because he manages to accumulate the protest | :17:02. | :17:06. | |
potential -- one of the reasons that Navalny is successful. In Moscow it | :17:07. | :17:15. | |
is mostly concentrated around corruption and the need for reform | :17:16. | :17:19. | |
in the economy and social sphere but the main topic is corruption. 17 | :17:20. | :17:26. | |
minutes in and it is rare we get that far without mentioning Donald | :17:27. | :17:28. | |
Trump who has one more thing to think about because the attorney | :17:29. | :17:32. | |
generals for Maryland and the District of Columbia have filed a | :17:33. | :17:36. | |
lawsuit against him, saying payments made to his businesses violate | :17:37. | :17:39. | |
anti-corruption clauses in the US Constitution. First of all he is the | :17:40. | :17:45. | |
Attorney General in DC. The suit alleges that President Trump is | :17:46. | :17:49. | |
flagrantly violating the constitution, which exquisitely bars | :17:50. | :17:57. | |
presidents from receiving guests or inducements from foreign or domestic | :17:58. | :18:00. | |
government entities. Never in the history of this country have we had | :18:01. | :18:05. | |
a president with these kind of extensive business entanglements and | :18:06. | :18:11. | |
or a president who refused to adequately distance themselves from | :18:12. | :18:16. | |
their holdings. President Trump's businesses and his dealings violate | :18:17. | :18:20. | |
the Constitution is anti-corruption revisions known as the emoluments | :18:21. | :18:26. | |
clause is. That is one perspective, here is another, Sean Spicer is the | :18:27. | :18:30. | |
White House press secretary. It is not hard to conclude that partisan | :18:31. | :18:34. | |
politics may be one of the motivations behind the scene, the | :18:35. | :18:38. | |
suit was filed by two Democratic attorney generals and the lawyers | :18:39. | :18:41. | |
driving the group have partisan ties and it started with a press | :18:42. | :18:45. | |
conference at the post to filing it which is interesting and be sued | :18:46. | :18:47. | |
challenges the sort of business transaction that everyone from some | :18:48. | :18:54. | |
of the last administration and others have engaged in. We will | :18:55. | :18:56. | |
continue to move to dismiss this case in the normal course of | :18:57. | :19:00. | |
business. More details on this, and from Washington, -- Anthony. How | :19:01. | :19:10. | |
will this progress? The attorney generals are filing the suit, | :19:11. | :19:13. | |
similar to others that have already been filed that will be considered | :19:14. | :19:19. | |
by a federal court, a District Court which is the lowest level in the | :19:20. | :19:23. | |
chain of federal courts. It could get up to the US Supreme Court. This | :19:24. | :19:30. | |
is an unknown area of the law, there has not been a president like Donald | :19:31. | :19:34. | |
Trump so there has not been a lawsuit like this. The emoluments | :19:35. | :19:38. | |
clause does specifically say that a president or anyone in office cannot | :19:39. | :19:44. | |
take a title from the Queen or a gift from a foreign leader, but it | :19:45. | :19:49. | |
is more vague on is someone who has business interests, if they can take | :19:50. | :19:54. | |
money from foreign leaders not as an exchange of services. It is | :19:55. | :19:59. | |
reasonable for Sean Spicer to say that these attorney generals are | :20:00. | :20:03. | |
political operators? They are political operators and it is | :20:04. | :20:09. | |
reasonable to say that they are probably bringing this suit in part | :20:10. | :20:12. | |
because they have political differences with Donald Trump and to | :20:13. | :20:16. | |
highlight the fact that he has promised to separate himself from | :20:17. | :20:20. | |
his businesses but, in their view, has not done a good enough job of | :20:21. | :20:23. | |
doing that. Before they can even get a hearing on the merits, they will | :20:24. | :20:28. | |
have to prove they have standing to bring the case and that might be a | :20:29. | :20:33. | |
big pitfall that everybody bringing these suits might have to deal with. | :20:34. | :20:38. | |
The court has determined that they have grounds to show they were | :20:39. | :20:41. | |
harmed by the President and say that their state as business that have | :20:42. | :20:45. | |
been hurt caused foreign companies are going to Donald Trump's hotels | :20:46. | :20:49. | |
and not ours. That will be a challenging case for them to make. | :20:50. | :20:54. | |
And some copy sure you have seen filed from the newsroom in | :20:55. | :20:56. | |
Washington... I have an impression, correct me if | :20:57. | :21:10. | |
I'm wrong, that this is going to the Supreme Court and everything before | :21:11. | :21:15. | |
that is to some degree in relevant? -- irrelevant. There is a general | :21:16. | :21:22. | |
consensus that the Supreme Court will decide this, we have already | :21:23. | :21:26. | |
have one appellant court issue its decision upholding a state of the | :21:27. | :21:29. | |
travel ban and stopping it from taking it bent and now another has | :21:30. | :21:34. | |
said this. I was talking to some law expert last week who are not so | :21:35. | :21:38. | |
certain that the Supreme Court will step in. If there is a consensus | :21:39. | :21:44. | |
among the lower courts that the travel ban is unconstitutional, or | :21:45. | :21:47. | |
should be tried on its merits and are not allowed to go into effect | :21:48. | :21:50. | |
before that, the court might decide to hold off and let this play itself | :21:51. | :21:55. | |
out in the lower courts and that would be the least controversial | :21:56. | :21:59. | |
weight of a court handling it but there is so much attention on it I | :22:00. | :22:02. | |
personally think the court has to come in and say one way or the other | :22:03. | :22:06. | |
and put this to bed. Thank you, we will talk tomorrow. Back to our lead | :22:07. | :22:14. | |
story, the fallout from the UK election and we will look at it from | :22:15. | :22:18. | |
a business point of view with our business editor, Simon Jack, who has | :22:19. | :22:22. | |
written an excellent article online which you can find now. It refers to | :22:23. | :22:29. | |
the fact that some businesses are hoping this new government led by | :22:30. | :22:32. | |
Theresa May might be more sympathetic to their demands ahead | :22:33. | :22:38. | |
of Brexit. This article also points to a survey showing that businesses | :22:39. | :22:43. | |
that are hard Brexit, ie leaving the single market, will be damaging | :22:44. | :22:47. | |
whether new trade are successfully negotiated or not. Here is | :22:48. | :22:52. | |
Anne-Marie Martin, chief executive of the British Chambers of commerce | :22:53. | :22:56. | |
in Europe. The government has been consulting with business over the | :22:57. | :23:00. | |
last few months, quite rigorously, and there is a huge amount of data | :23:01. | :23:04. | |
and evidence -based data about what the impact on business is and not | :23:05. | :23:08. | |
just UK businesses but European businesses as well. The hard stance | :23:09. | :23:13. | |
as a starting point for negotiations took place and it is quite | :23:14. | :23:16. | |
understandable but actually where we would have reached may have been a | :23:17. | :23:19. | |
softer place anyway but it would be good for business for our | :23:20. | :23:24. | |
expectations to be managed in this case. Worth adding that the Minister | :23:25. | :23:29. | |
for Brexit David Davis has repeatedly argued that leaving the | :23:30. | :23:33. | |
single market would benefit UK businesses, they can operate through | :23:34. | :23:36. | |
trade deals with the European Union but also through new trade deals | :23:37. | :23:39. | |
with a lot of other countries around the world. Now to tech companies in | :23:40. | :23:47. | |
US markets, quite a story, Apple is down 3%, Amazon and Facebook have | :23:48. | :23:51. | |
been struggling at on Friday the top five tech companies in the US lost | :23:52. | :23:57. | |
nearly $100 billion in market value. Samir Hussein is in New York. A few | :23:58. | :24:04. | |
people might have missed this with the election results coming through | :24:05. | :24:09. | |
but what is going on? Not really the best time in the world to be holding | :24:10. | :24:14. | |
a whole lot of tech stock but if you don't have any, it might be a good | :24:15. | :24:19. | |
time to leap in there! What is the reasoning? Firstly we are already | :24:20. | :24:26. | |
seeing that tech stocks in general were really hot so they needed to | :24:27. | :24:32. | |
come down a bit. Some believe this is just the market correcting | :24:33. | :24:37. | |
itself. But the impetus for that, there is still some debate, no clear | :24:38. | :24:45. | |
reasoning right now why this has happened. As ever, markets are | :24:46. | :24:50. | |
fickle but one wise person suggested that it is perhaps there are more | :24:51. | :24:54. | |
buyers than sellers. I'm sure that it but is it a case that these | :24:55. | :24:58. | |
companies have just got very valuable, after all some of the | :24:59. | :25:03. | |
biggest companies in the world? That is exactly right and there is no | :25:04. | :25:07. | |
question among market watchers that the is a need for a correction, even | :25:08. | :25:12. | |
looking at the market as a whole that we have been breaking record | :25:13. | :25:17. | |
after record after record. It is clear the US markets need some sort | :25:18. | :25:21. | |
of correction so these kinds of gyration, while significant to some | :25:22. | :25:25. | |
people and their Port Vila -- and their portfolios, in the grand | :25:26. | :25:28. | |
scheme of things probably make sense in terms of the market temperature. | :25:29. | :25:35. | |
Thank you. We will be continuing our coverage of the fallout from the UK | :25:36. | :25:40. | |
election and bringing you right up to what we know about those | :25:41. | :25:45. | |
negotiations between the Conservatives and the DUP, and also | :25:46. | :25:48. | |
what we know about the new government's ambitions for the kind | :25:49. | :25:51. | |
of laws it will be able to get through the House of Commons. A lot | :25:52. | :25:55. | |
more to come from if you have any questions, send them in. | :25:56. | :26:06. | |
Hello it is that time when we take a journey across the world to see what | :26:07. | :26:13. | |
stories have developed in | :26:14. | :26:14. |