:00:17. > :00:23.Hello and welcome to our look at the morning's papers. With me are the
:00:24. > :00:26.Independent's Economics editor, Ben Chu, and the financial commentator,
:00:27. > :00:30.Louise Cooper. Let's start with the front pages. The crisis in
:00:31. > :00:36.the main story in the Independent, which claims Iran may intervene to
:00:37. > :00:39.stop militants capturing Baghdad. And the Telegraph reports that the
:00:40. > :00:42.SAS may be deployed in the conflict. The Times says that the Ministry of
:00:43. > :00:45.Justice is scrambling to recruit more prison officers to deal with
:00:46. > :00:48.the growing number of prisoners in Britain's jails. The Daily Mail
:00:49. > :00:50.claims a big rise in passport applications from migrants is
:00:51. > :01:00.contributing to the delays at the passport office. The Mirror has a
:01:01. > :01:02.picture of the late teenage cancer fundraiser, Stephen Sutton, who has
:01:03. > :01:05.been included on the Queen's Birthday Honours list. And the
:01:06. > :01:14.Guardian shows another person who has been awarded an honour, the
:01:15. > :01:17.actress Angelina Jolie. We have to include this. Steven
:01:18. > :01:26.Gerrard on the front page of the Sun. The pubs are open until one
:01:27. > :01:33.o'clock tomorrow. England play rugby and cricket. What could possibly go
:01:34. > :01:38.wrong? Everyone has used this photograph of him with the England
:01:39. > :01:47.flag, and I'm thinking, would he not have shaved? It is not even a beard.
:01:48. > :01:53.It is tatty. It is very fashionable these days. Clearly, I know nothing.
:01:54. > :02:00.He did not have his beard with him at a press conference. He just got
:02:01. > :02:08.not be bothered. Is that the best you could offer? I like this photo
:02:09. > :02:22.shop in the corner. Samba Saturday? Who is this? He is dressed up like
:02:23. > :02:28.he is ready for the samba. He has maracas and a headdress and he is
:02:29. > :02:32.wearing his suit. I learned early in my career that you should under
:02:33. > :02:36.promise and overdeliver. I believe there is quite a bit of that going
:02:37. > :02:43.on and let's hope they deliver on that, but if the past is anything to
:02:44. > :02:46.go by... I think you are right to detect some tongue in cheek about
:02:47. > :02:54.that question, what could possibly go wrong... Anything that can go
:02:55. > :03:00.wrong will go wrong. The pubs are open until one o'clock, it's sunny
:03:01. > :03:08.weather, get the barbecue out... They are a young team. The second
:03:09. > :03:13.youngest squad ever. We don't know what the game plan is. And they are
:03:14. > :03:19.going against Italy. It's not the best draw for your first match. Last
:03:20. > :03:26.time they met, it was a one`sided affair. And they will need to be
:03:27. > :03:31.young and fit because it will be 70% humidity. They will be running
:03:32. > :03:38.around in very hot weather and you would not fancy doing that if you
:03:39. > :03:44.were over 25. They are very young. Frank... I was thinking about Frank
:03:45. > :03:49.Lampard earlier. He is the only one I recognise, I have to admit. Roy
:03:50. > :03:55.Hodgson says all we have to do is get behind them. It's only that was
:03:56. > :04:02.all we had to do! There is this quote from Steven Gerard. There must
:04:03. > :04:11.be no regrets. Hope over experience? I liked the Financial Times. England
:04:12. > :04:16.expects that an early flight home is on the cards. And apparently the
:04:17. > :04:22.line England expects goes back to Admiral Nelson. A signal before the
:04:23. > :04:24.Battle of Trafalgar. And the Financial Times have been quite
:04:25. > :04:32.condemn the Financial Times have been quite condemnatory. The English
:04:33. > :04:35.back home expect almost nothing. The nation's trajectory has been from
:04:36. > :04:45.hubris to self`mockery but this time, they have skipped phase one. I
:04:46. > :04:50.love the idea of a financial commentator turning to the Financial
:04:51. > :04:55.Times for the news on the football World Cup. The Daily Express has a
:04:56. > :04:58.new weather warning for the summer. They have issued some advice for the
:04:59. > :05:03.long, hot spell, which apparently has no end in sight. The health
:05:04. > :05:16.warnings are the usual things. Put on a hat and sunscreen. Hold the
:05:17. > :05:21.front page. Summer is hot. Avoid alcohol, it says, on the day of the
:05:22. > :05:27.first England match in the World Cup, where the one weekend in the
:05:28. > :05:34.year that people are likely to take to alcohol with the barbecue, it's
:05:35. > :05:38.hot pubs will be open until one o'clock in the morning, but it's OK
:05:39. > :05:43.because the Daily Express is telling people to avoid alcohol!
:05:44. > :05:51.The NHS staff are braced, as they say. They always use that word.
:05:52. > :05:54.Assume the position! Braced for emergencies. It seems like a
:05:55. > :06:03.sensible thing to do. We have been waiting so long for this. And the
:06:04. > :06:11.pubs open late... It's hot, people drink lager when it is warm. And in
:06:12. > :06:21.the middle of a recession... Will you be watching? It's a bit late for
:06:22. > :06:25.us. We have kept you up late. The Sunday lying in afterwards. We had a
:06:26. > :06:33.laugh about this. If you don't have young children! The Financial Times.
:06:34. > :06:43.We are on safer territory here, 's financial types. Promised little and
:06:44. > :06:47.overdeliver? Buyers urged to tie in home loan rates. This is because we
:06:48. > :06:54.heard from the Governor of the Bank of England and warning that interest
:06:55. > :06:58.rates would rise earlier than the markets had been... Banking on.
:06:59. > :07:05.Mortgage brokers, of course, are calling on us to tie into fixed
:07:06. > :07:12.rates. Another hold the front page moment. Mortgage brokers say go and
:07:13. > :07:17.get a mortgage. He came out last night and said that interest rates
:07:18. > :07:20.might go up sooner than imagined. The economic data has been better
:07:21. > :07:27.than expected, particularly on unemployment. The Financial Times
:07:28. > :07:31.have followed this up by saying this would be a good time to get a fixed
:07:32. > :07:36.rate deal because those rates will go up sooner than imagined. To be
:07:37. > :07:40.fair, the most recent data I saw in the Financial Times this week
:07:41. > :07:44.suggested that 85% of recent mortgages were on a fixed rate
:07:45. > :07:49.anyway, so when these mortgage brokers are urging us all, it seems
:07:50. > :07:55.we are doing it anyway. The good news is that sterling is very
:07:56. > :08:02.strong. ?1 will buy $1 70, so if you want to take family to in Florida,
:08:03. > :08:09.this is the time. `` ?1 will buy $1.70. But for British companies
:08:10. > :08:16.wanting to export... The other side of the coin. A good day for
:08:17. > :08:23.holidaymakers. A bad day for metal bashers in the East Midlands. It was
:08:24. > :08:27.ever thus. Are there any metal bashers in the East Midlands? I'm
:08:28. > :08:32.glad to hear it, as someone from the East Midlands. I was encouraged
:08:33. > :08:38.years ago to fixed my mortgage and I'm glad I did not because it has
:08:39. > :08:42.stayed so low. When the economy turned this time last year, the
:08:43. > :08:47.markets thought that because of the strength of the recovery and because
:08:48. > :08:52.rates were so low, the markets were predicting a rate rise at the end of
:08:53. > :08:57.last year and it was only when Mark Carney said he would not raise the
:08:58. > :09:01.rate that the markets said, OK... What did he say? He was giving them
:09:02. > :09:09.forward... Forward guidance and we did have a laugh. Not to be confused
:09:10. > :09:16.with guidance on its own. Something of a tautology. Oh, and it was very
:09:17. > :09:23.funny and there was lots of teasing of him because clearly interest
:09:24. > :09:28.rates... Unemployment rates dropped to his target. Gordon Brown had this
:09:29. > :09:32.with his five test that had to be met and when they work, he moved
:09:33. > :09:39.things a bit because it's not that simple, is it? To be fair to the
:09:40. > :09:42.Bank of England... You get egg on your face when ever you try to make
:09:43. > :09:48.a forecast beyond the very short term. Like the weather. But the
:09:49. > :09:51.difference is that they only issue five`day forecasts with the weather
:09:52. > :09:55.and they are willing to admit when they get it wrong, which is very
:09:56. > :10:03.different to economists. And central bankers. The Guardian. The US and
:10:04. > :10:11.Iran join the fight for Iraq. In what capacity, we do not know. Air
:10:12. > :10:15.strikes against jihadis. Tehran has sent a top general to Baghdad. If
:10:16. > :10:21.you wait long enough, you can almost see any headline but the idea that
:10:22. > :10:27.the US and Iran are having to join forces to suppress a revolt by
:10:28. > :10:32.Islamists in Iraq, who do some pretty atrocious things who stand in
:10:33. > :10:36.their way... Truly extraordinary but also extraordinary that the US and
:10:37. > :10:41.Iran, as the headline says, would join to fight for Iraq. That is
:10:42. > :10:45.truly peculiar and extraordinary considering where we have come from
:10:46. > :10:52.in history. The Guardian also has a line that Obama may considered yet
:10:53. > :10:57.strikes, air strikes, into Syria as well. And that is a different mind
:10:58. > :11:03.that I have not read in the other newspapers so far today. He is
:11:04. > :11:06.considering airstrikes. Not boots on the ground but here, they are
:11:07. > :11:19.suggesting that Syria as well as Iraq. That is because ISIS have a
:11:20. > :11:23.presence in Syria. It reflects the transnational nature of this
:11:24. > :11:26.insurgency. Everything is connected. If you work to do a diagram of all
:11:27. > :11:30.the different interests and sectarian divisions in all of these
:11:31. > :11:36.different countries, it would confuse you even more. And this is
:11:37. > :11:40.what policymakers in the US and UK are dealing with. How can you
:11:41. > :11:45.possibly be constructive when you cannot even see where all of the
:11:46. > :11:50.alliances are? And there is such a deep irony. The US has been at
:11:51. > :11:54.loggerheads with Iran for most of the past decade and now they find
:11:55. > :12:01.themselves on the same side against this sort of Al`Qaeda linked group.
:12:02. > :12:07.It must be very difficult to see what to do at the moment. The
:12:08. > :12:15.Mirror. The Queen 's birthday honours. This is Stephen Sutton,
:12:16. > :12:18.raised nearly ?4 million for the Teenage Cancer Trust. He has been
:12:19. > :12:26.given an MBA. He found out just a short time before he died. This will
:12:27. > :12:34.is probably one of the easiest decisions the committee could make.
:12:35. > :12:37.He inspired everyone. There was such a ground swell of support and the
:12:38. > :12:41.money raised was fantastic for a brilliant course and it really does
:12:42. > :12:47.give the list a good name when this sort of thing happens. What I found
:12:48. > :12:51.truly moving about him was his approach to his own death. He knew
:12:52. > :12:57.that it was coming and he accepted it. Now, many adults find it very
:12:58. > :13:02.difficult to accept their own mortality and it is a very emotional
:13:03. > :13:05.and difficult journey and most people fight against it very hard
:13:06. > :13:14.and here is a young man with the maturity to accept one of the
:13:15. > :13:18.greatest injustices. Not the length of time you live but what you do
:13:19. > :13:31.with the times you have got. And an honourary title for Angelina Jolie.
:13:32. > :13:37.She has clearly done a lot of very important aims for charity but I do
:13:38. > :13:42.wonder whether this is really that appropriate to honour an American
:13:43. > :13:46.actress in this way. Even if she does make William Hague smile? The
:13:47. > :13:51.cynic in me fears that is one of the reasons why she has got it, because
:13:52. > :14:01.she has put him in a very good light. Such cynicism! It just
:14:02. > :14:05.saddens you, really. Thank you anyway. Those are the papers
:14:06. > :14:07.tonight. Stay with us because coming up next, we have a special World Cup
:14:08. > :14:10.edition of the sport.