09/12/2013 The Papers


09/12/2013

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with three races to spare this year. We will have reaction from Hull

:00:00.:00:00.

City. That's all in Sportsday, in 15 minutes after the papers.

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Hello. Welcome to our look ahead at what the papers will be bringing us

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tomorrow. With me to do that are James Rampton of the Independent and

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Mina Ol`Oraibi of the Arabic newspaper, Asharq Alawsat. We will

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look through all the papers shortly. Let's see what we have so far. The

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Independent's main story a Panorama investigation into the operations of

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several UK chart tis. The Telegraph is reporting a financial watchdog is

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calling for an inquiry into excessive profits made by insurance

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companies from pensioners. The top in the Times is a summit taking

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place tomorrow to tackle the risk of dementia. Health chiefs are calling

:00:59.:01:07.

the disease "the 21st century plague." Authors have condemned

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surveillance revealed by Edward Snowden. The Mail has the same

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story, that elderly savers are being stripped of thousands of pounds by

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middlemen when they retire. Let's middlemen when they retire. Let's

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look at some of those stories. We will start with the Daily

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Telegraph. Brokers are burgling pensioners is the headline. This is

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this as the watchdog calls for an inquiry into the ins and out of the

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excessive profits made by insurance companies. It is staggering, isn't

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it? It is a complex system we are looking at. Absolutely. It has taken

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me aback reading the figures here. Some of the quotes are strong.

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Debbie Harrison, a visiting Professor at the of business school

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in London, says there's a lack of clarity, insurers are benefiting

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from the confusion and bewilderment. Here is the line which has given

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them the headline ` what is the point of triple locking the front

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door when you leave the back door open for burglars? That reiterates

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this sense that people are being ripped off. I don't think that is

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putting it too strongly. These middle men are making a fortune out

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of pensioner, sometimes who are confused and bewildered by the array

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of options they are offered. It appears they might be taken

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advantage of. For those of us who don't have savings in these schemes,

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remind us how complex it can be. don't have savings in these schemes,

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remind us how complex it can be So remind us how complex it can be. So

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the idea is that you have savings. At the moment with the current

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interest rates, not much interest and not much is being made from

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savings. Often you get them telling you, well if you put your money in

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the bank it is losing money because it is losing value as the year goes

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on. You give up your bulk for an annual income. For many pensioners

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that may seem when they think, OK I will live 10`15 years, let me see

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what I can do with my savings. However, there are charges and fees

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put on. This is what it is focussing on, the idea of the fee, the

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charges, whether you lose when you agree into this. The small print?

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Like you said James, there are so many options you get lost in this. A

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lot is about financial literacy orle ill illiteracy. Something which

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looks attractive may not be five or ten years down the line. The

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Financial Conduct Authority have said they will have a review looking

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into this. Interestingly, also it raises the point about savings.

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According to the Telegraph story, that the quickest rates of

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withdrawing from savings in 40 years is people are spending their savings

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because they don't feel like it makes much difference. Some who want

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to see the economy given a boost, think, oh this is good. What do you

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do if you are a pensioner and your savings are being burgled? It is not

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a new issue. An adviser at Downing Street on pensions says she has been

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calling for years for a review. She says the market was failing a

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generation of pensioners and hoped regulators would be shamed into

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taking action. Regulators have done nothing about it. I hope stories

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like this and I know The Mail is leading as well, will kick them into

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options. We are looking at ways to invest wisely, particularly in old

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age because pensions are not as good as they used to be. And we are

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living longer. Some of us will. I mustn't speak for myself! Last

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week's headlines about most people having to work until they are 70

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now, so again the age of retirement... I will not make it

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that fine. We will be long gone by then! If not, we enjoy our jobs

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Either way. Now we all had a giggle at the cartoon on the front`page...

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I don't know if your graphics guys have been able to get close in on

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it. Oh, they have. Hilarious. This is in reaction to comments made over

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the weekend about people moaning about Eastern Europeans taking our

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jobs and in reference to the MPs' salary rise. Two guys in Bulgaria.

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One says,ly take a low`paid job that Brits won't do ` I am going to be an

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MP. David Cameron said the cartoon is what he turns to every day in the

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paper. Every day is a winner. His hit`rate is incredible. There are

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two stories ` the Eastern Europe peen story and actually this was a

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couple of ministers from Bulgaria who say they are taking jobs the

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Brits won't do. On the other hand MPs could get an 11% pay rise, which

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is causing a stir. I would be very happy with 11%. 1% would be good!

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Let's move on to the Independent now.

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This has of dedicated most of its front`page to a BBC Panorama. It

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will be broadcast tomorrow into a number of Britain's major charities.

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It appears the Independent has done some of its own investigating as

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well. I think this is a really strong story, I must say. I am a bit

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conflicted because we always want to think that charities always do the

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right thing. They are obviously generally very well intentioned H in

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this case the allegations are quite serious. According to a

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whistle`blower, he's accused safe the children, one of our oldest NGOs

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of sen el self`centring criticism of the big six because they are funded

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by British gas. He suggested that they are holding back in criticising

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those companies because they are taking money from them. That is a

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serious allegation. I understand that British gas deny it. It is a

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really interesting story to be highlighting. And I believe you have

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the denial from Save the Children. It is important because it raises

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the question of what does corporate sponsorship of a charity mean n the

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current economic climate? It is difficult for charities to raise

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money. People feeling the pinch While they are generous, but not as

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generous as they used to be. Corporate responsibility want to be

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seen doing more for chart tis. Where do you blur the line? What sort of

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agreements are done? This is important, but it is sad, to be

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honest to see Save the Children, who honest to see Save the Children who

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have done great work in the UK and internationally, they have done a

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brilliant job this year for Syria. You would not want it to tarnish

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them and make people hold back from supporting these charities. Clarity

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is important, but I hope it means there is more internal

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investigations within the charities. Both deny any wrongdoing. As you

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were saying Save the Children, which is very much the focus on the

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front`page of the Independent, as much as we can read it tomorrow but

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more on Panorama and the pages as well, they are one of the old ets

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non`Government organisations and survival is key. If you are the old

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ets, you will be one of the big `` oldest, you will be one of the

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biggest as well. There is an appeal, one of the charities always at the

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forefront. They do brilliant work all over the world. I really hope,

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even though the story is important, it doesn't deter people from

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contributing when you see a collection box I hope you will still

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put the money in because they do fantastic money in this country and

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everywhere in the world. Here is an investigation which brings the

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charities together trying to survive and the Energy Bill crisis. That is

:08:53.:09:03.

why it is such a good story. On to the Financial Times. We have a theme

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tonight going, haven't we? The Governor of the Bank of England

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revealing, giving us some insight into how he wants to try and tackle

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the housing bubble. And this is particularly in London ` I know as a

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reporter with our colleagues at BBC London, the price of `` prices of

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houses are beyond belief and expected to go up significantly over

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the next five years. We are looking at an average price of a house at ?1

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million in five years' time. Salaries are not keeping up. Oh,

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million in five years' time. Salaries are not keeping up. Oh my

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gosh! Great for homeowners, but not for buyers. It is interesting

:09:44.:09:49.

because it also is a time... People are still getting to know Carny

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since he took over at the Bank of England. This is him... It is fresh

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blood, isn't it? Trying to explain is his fiscal policy? People are

:10:00.:10:06.

wanting interest rates to be kept low. He said if unemployment rates

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fell to 7 pfrs that would be an indication toll raise interest

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rates. However we will likely be approaching that and he's almost

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like stepping away from that earlier statement, saying, actually I can

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look at other options. Not clear what they are within the coverage

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that we have seen here, but that it is not necessarily going to be

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interest rates, even though the housing bubble, as you rightly said

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is something which can concerning many people.

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It's a very political position. Now he has charge of interest rates ever

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since the Labour Party handed that to the Bank of England in 1997. He

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is foreshadowing possibly using other tools. I think it's very, very

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clever. He is striking a different note from Lord King. He's made this

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statement today and he says the ghost of Christmas present is a

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cheerful spirit, trying to litten the mood. Lord King was serious,

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cheerful spirit, trying to litten the mood. Lord King was serious but

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Mark Carny is from Canada and he is just a bit different and I think

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he's trying to show another face and he's trying to create a different

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atmosphere perhaps. Increase optimism. He's saying levels of

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business confidence are the highest for 15 years. That's part of his

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job, as almost being a cheerleader for the economy. Do you think we are

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seeing the Government struggling to stimulate the economy as Ed Miliband

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suggests? We get the headlines that things are looking better, but by no

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means is it as quick as the Government would like? People still

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haven't seen living standards go up. Even though the figures and

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headlines seem more optimistic, people haven't felt it and

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especially going back to energy bills and people who are paying more

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and not feeling they're receiving on the other end, so it's interesting

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here, because again the FT quotes the chairman of the office of budget

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responsibility and says that, "We don't get the 2% a year real quote

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in wages and salaries that people would be used to." We are still

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looking at another two years. I m looking at another two years. I m

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old huff to remember Harold Wilson talking about the pound in your

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pocket and people do not feel like the pound in their pocket is worth

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very much. They still feel very underconfident about going out and

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spend ng and splurging. They still feel nervous about the economy. Bill

:12:35.:12:38.

Clinton used to say it's the economy, stupid, so you have to have

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the confidence to make people spend and I don't think we are quite there

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yet. You wouldn't know it as I battle through shoppers to get to

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the shops. Aren't they annoying? the shops. Aren't they annoying

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Thank you both for taking us through the papers. They'll be back later

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for another look at tomorrow's papers. Do stay with us here.

:13:02.:13:08.

Michael Adebolajo admits killing Fusilier Lee Rigby, but tells the

:13:09.:13:12.

court it was not murder, because he's a soldier of Allah. Also coming

:13:13.:13:15.

up, Sportsday. Good evening. Coming up ` Blackburn

:13:16.:13:37.

Rovers ever discussing `` are discussing the future of DJ Campbell

:13:38.:13:40.

after his arrest in connection with spot fixing. Danny Graham scores his

:13:41.:13:46.

first goal in nearly a year, but deaS not enough for Hull City. ``

:13:47.:13:52.

it's not enough for Hull City. Formula One change their rules to

:13:53.:13:56.

increase the chance of the title race going down to the wire.

:13:57.:14:14.

Good evening. Blackburn Rovers are discussing the future of DJ

:14:15.:14:22.

Campbell. Campbell was one of six arrested by the National Crime

:14:23.:14:23.

Agency

:14:24.:14:25.

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