06/08/2014 The Papers


06/08/2014

No need to wait to see what's in the papers - tune in for a lively and informed conversation about the next day's headlines.


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Celtic, and have the latest as England and India prepare for the

:00:00.:00:00.

fourth test at Old Trafford. That is all in sports day, in 15 minutes

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after the papers. Hello, and welcome to our look

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ahead to what the the papers With me are Caroline Daniel,

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Editor of the Weekend edition of the Financial Times,

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and Eleanor Mills, Editorial with The Financial Times, which

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says health companies may be halted by

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the potential closure of a US tax The Metro leads with the two

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British students murdered in Malaysia. It

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says they were stabbed for being too it says Tropical Storm Bertha will

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hit the UK on Sunday; The Telegraph claims that hundreds

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of thousands of people are preparing to withdraw about ?26 billion from

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their pension pots over the next 5 years under the government's pension

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reforms ` and also says Boris Johnson could become Business

:01:00.:01:01.

Secretary if the Conservatives win divisons over Gaza, and why this

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simian "selfie" is costing a wildlife photographer thousands of

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pounds in a copyright dispute. The Guardian says that Boris

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Johnson's possible return to the House of Commons is causing anxiety

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in Conservative ranks over a future threat to David Cameron's

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leadership. While the Times claims that the

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London mayor faces a race against time to find a constituency before

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next year's election. We will begin with the front of the

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Telegraph, and inevitably, Lenore, Boris Johnson. He is back! As if he

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ever went away. Welcomer he did not really go away. But I think we have

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been waiting for this announcement that he was going to try to run for

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a seat in Parliament. We knew that he was going to say it, and that if

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he did he would do it before the Tory conference, because in the last

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two years it has been very overshadowed by what he would or

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would not do. I think it is rather exciting. I think it may be linked

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to the fact that this prime seat in Uxbridge is coming up in the next

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couple of weeks, which, since he is going to have to go on being Mayor

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of London, might be a good one for him to do, because it would be

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convenient, and also he could go on doing his London stuff. I am not

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that surprised actually. I think that this has been the mood music

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for a long time, and Cameron has been very magnanimous about having

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his best player back on the pitch. They are trying to pretend they are

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one happy team, but we know that what Boris really wants is David

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Cameron's job. Well, according to the Telegraph he is in line to the

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Business Secretary. They are slightly ahead of themselves. Well,

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everybody else has the story, so the Telegraph decided to gild the lily

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by adding this. It is a baffling line to me. As if that is really

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going to entice Boris into Parliament any quicker, the promise

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of potentially being Business Secretary if they potentially win

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the next election. It is especially weird since the next election. It is

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especially weird Santi Atchley said today position until after the mayor

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of thing finishes. `` especially weird since he said today. And with

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the whole thing orchestrated by David Cameron, the tone is full of

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language about clashing and a split in the Tory party. It is about how

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his return will destabilise the Commons. It is a slightly weird

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story, trying to have the cake and eat it. Yes, there was a reference

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to an earlier clash this year with Michael Gove in this piece. There is

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the suggestion that that relationship... There is interesting

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factionalism here. We know that George Osborne is really the man who

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would like to be leader after David Cameron goes. And Michael Gove,

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earlier this year, was very outspoken about how he thought Boris

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Johnson was an unfit person. Boris was furious about it. So Michael

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Gove is very much backing George Osborne, and George Osborne has very

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carefully put in a lot of his own people. I think Osborne will very

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much be the man to beat. Boris does have this capacity to reach parts of

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the electorate which other Tory politicians just don't. In London,

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which leans towards Labour, one in five Labour voters voted for Boris.

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And he has appeared amongst those where people think Cameron and

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Osborne are hopeless posh boys. Boris is frankly posh as well, but

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because he seems real, and he is funny, today he was doing it with

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assertiveness and the weasel words. He is very good at playing the

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gallery. And he is still incredibly popular in London. 60% approval

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ratings. Caroline, take us into the express' coverage as well, because

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they are focusing on some of things that are being said with regards to

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the EU. I think in some ways there will be focusing the next few days

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on the European angle. This was a big speech on Europe, and the next

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stage will be, what does this mean the UKIP? His intervention, it is so

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powerful comic is basically saying we do not need to be paranoid and

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scared about pulling out of Europe. He said some quite significant

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things about how we have a great and glorious future outside the EU. He

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is trying to build a very positive case for this debate, rather than

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actually saying that everybody has been very concerned and unhappy

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about the referendum debate. What he said in the report is highly

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political, highly aggressive about his EU agenda. It was a very long

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and major report. I think the attention, if I was Nigel Farage

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tonight, looking at that, I wouldn't worry about this being a cornerstone

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of David Cameron's EU debate. I think Boris is being very clever,

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because really the keystone of Nigel Farage's appeal is this idea that we

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have no control over how many people come here from the rest of Europe.

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As that is one of the key things that Boris said today, was that he

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really wants to limit that kind of free European immigration. But he is

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also, interestingly, on the part of the city, he is very pro`the kind of

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immigration, the kind of skills that we need. It is quite a kind of

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nuanced picture. And to be fair to Boris, he does know about Brussels.

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When I first worked with him, when I was on the Telegraph, 20 years ago,

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I'm getting ancient, he was the man who talked about the straight

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bananas. He has always been withering about European legislation

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and how crazy it isn't Howard Raps businesses and red tape. He been

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consistent on this, and I think he has also noticed that the only way

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you negotiate with the EU with any kind of power is if they really

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think that you might walk out. So he has been critical about Cameron, in

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a way, conceding too much in saying that he will lead a yes campaign and

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does not really want to go out. It is a pitch to UKIP, but I also think

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he believes it. And according to your paper, Caroline, he has

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bombshells Westminster. We love alliteration in the headline. As I

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said, I think what is going to be interesting is that Boris Johnson is

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such a global figure. I think it will be fascinating looking at the

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coverage overseas, especially in Europe, about his speech. I think

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they will put this up and be worried about it. We will stay with you and

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your paper, because the main story there, European health groups hit by

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US tax inversion doubts. That might not be a headline, but it captures

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everybody in the morning, and I know you can tell me that message and

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what it means. I will try to translate it into compensating wish.

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You are too modest. You are very good at this. The reason it matters,

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we all remember the big Pfizer deal. It wanted by AstraZeneca. The reason

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it wanted to do so was because of tax reasons. They have very high

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corporate taxes in America, and there has been a sort of mechanism

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of moving headquarters from the US to the UK, by buying an asset over

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here, and saving lots of money on tax. So that all these tax driven

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deals have lifted the pharmaceutical sector hugely. And what is happening

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in America now, this week, is that Obama, the Obama administration,

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they have decided to get concerned about big American companies, like

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Walgreens, which is as famous as Boots is here, coming over and

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moving their headquarters overseas. The reason this matters is that it

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suggests that Pfizer, which is obviously been watching the politics

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of the tax debate very closely, may not now be able to come back.

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Because it is getting so politically difficult. So what happened today is

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that Walgreen said they are not going to do a tax inversion in the

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way everybody was expecting. Announcing that they cost than $8

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billion in their share price falling, because everybody had been

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expecting all these lovely tax benefits. I think it is an important

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corporate story, because a lot of people here were worried about jobs

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in the UK, American companies buying up British jobs for tax reasons. I

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was about to make that point. There are some people here who will think

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that if they do not come back, that is good news. Exactly, yes. We will

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go back to the Telegraph for a moment. And now lead, a ?4 billion

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tax bonanza, 650,000 cash in pensions. This is the idea that we

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can dip into our pension pot, well, not when we choose to, but at the

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moment that we would be entitled to? You do not have to buy one of those

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pesky annuities which pay rubbish rates. When this was launched, it

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was all that stuff about how you could go buy a Lamborghini or a

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Ferrari. Like those people in Knightsbridge were running around in

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supercars. This is saying that if you take out your cash to buy your

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supercar, you may get hit with a big tax thing. So if it is over the

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40,000 threshold, you get hit with 40% tax. And it goes to a bigger

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question, which is about whether these people are going to get the

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right kind of advice. There is lots of anxiety, because one of the key

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parts of the promise, when George Osborne made it, was that people

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would get really good advice about what to do. I think there is a big

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fear that basically the government will take this ?4 billion tax

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bonanza when people start cashing in their pensions, and they will not be

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given the advice warning them that if they do, they are likely to lose

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half their pension pot to the Treasury. And as we said earlier, it

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is a bit annoying, because you have already been taxed on that money.

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But from George Osborne's point of view, if ?4 billion of me appears in

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the coppers, he will not be too concerned about that. Well, they are

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trying to put a number on the number of people likely to do this. The

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average amount people are looking to take out is ?40,000. In my mind, the

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average pension for a lot of people is much lower than that. I think

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we're really talking about wealthy people taking a lot of their money

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out of some of schemes. Inevitably, if you have more money, you will get

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better advice. There are such low yields as well that you will

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probably want to invest your money in property. People have a right to

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take out them money. A quick words regarding the Lib Dems and Gaza. It

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is less of a story than meets the wife. Following Baroness Warsi

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criticising the government on its policy overseas, there has been a

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lot more piling in with other people criticising David Cameron's

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position. Nick Clegg is talking about arms sales to Israel being

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stopped. There is a bit of a ground swell against David Cameron's

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policy. Let's just take the photograph in. It's glorious. It is

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one of the silly season's great stories. The macaque was

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photographed with the kids of the Gloucestershire photographer. He

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nicked the camera and started taking photographs of himself. There is an

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interesting copyright argument going on. Anyone can use this picture

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without paying for it. However, people are saying the monkey took

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it, so they don't have to pay royalties to the photographer. The

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photographer saying it belongs to him because the monkey can't go out

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and buy a camera. I love the fact that the US law says that nonhuman

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authors do not have the automatic right to copyrights. `` copyright.

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Do they get it eventually? I really feel so for the photographer. I feel

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sorry for the monkey. I feel sorry for all of them! We will have to end

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it there. That is it for now. We'll be back at 11:30pm. Stay with us

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here on BBC News. At 11pm, the Mayor of London Boris Johnson says he

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wants to stand for a Parliamentary seat at the next general election.

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Next, it's Sportsday. Welcome to

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