15/12/2015 The Papers


15/12/2015

No need to wait until tomorrow morning 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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Africa as England score a lot of runs on the opening day of their

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first tour match. That is coming straight the papers.

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Hello and welcome to our look ahead to what the papers will be

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With me are the Middle East Correspondent for the Wall Street

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Journal, Margaret Coker, and the Business Correspondent

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Let's have a look at a few of the front pages before we discuss some

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of the stories you want to talk about. The FT says Mark Carney has

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signalled they will be no haste to raise UK interest rates. The daily

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express believes falling oil prices could hit pensions. The eye warns of

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a Christmas travel nightmare. The Metro leads with the funeral of the

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fiance of Michelle Dockery. The NHS watchdog has told doctors they must

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show more respect to dying patients following complaints from families.

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The Guardian has a picture of Tim Peake's Soyuz rocket blasting off

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for space. Leading on a story about Prince Charles. And The Times

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carries news of plans for a European Union force.

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DfT has caught your eye this evening. Let's start with the news

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that the Bank of England governor does not seem in a rush to bring up

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interest rates, or at least in interest rates decision until the

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end of the year. What should we read into that? We were expecting an

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increase in interest rates. We expect to see tomorrow that the US

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will increase interest rates. Good news for borrowers, not such good

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news for savers. They want is to spend. They want is to spend. This

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is a reflection that the economy is not that strong. The reality is that

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the recovery, such as it is, is not that robust. The economy is not

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overheating. Certain segments have a lot of heat but overall it is not.

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The economy is not in a position to take increases in interest rates. He

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is not... Lower for longer, it seems. Another story on the front

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page of the FT. A picture as well. Inside Isis is the headline. The

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story is that she had a's can bankroll the war for years. -- jihad

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E's. This is a very important story

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because I think the public perception is still there that

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Islamic State is just a bloodthirsty group of terrorists, when in fact

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they have spent 18 months putting together a pretty sophisticated

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local economy. The FT story shows that. No matter what the

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international community is doing to stop revenue coming into Islamic

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State whether through oil sales or other mechanisms, the Islamic state

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has money, it has a very, I think, primitive but sophisticated also

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economy, whereby small businesses are still operating. It has an

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amazingly effective tax regime. Two or three years of revenue where it

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can pay its fighters, that is a bad thing for us. The FT has done some

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good work on this. There was an article a few weeks ago where they

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interviewed one of the commanders on the ground in Syria in the rebel

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groups, saying they are filling their tanks up with oil that is

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owned by Islamic State, and loaning -- loading the tank to the front

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line and firing it at Islamic state. Yes, a lot of people have been doing

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this inside Isis business. We are seeing some documents have been

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discovered and annual reports in which it boasts about its

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achievements. The oil is a small part of it. It does obviously stick

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in people's throat, the idea that Islamic State is exporting and doing

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business with its enemies. Some of the parties fighting Islamic State,

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it is alleged, are supporting it and helping it to continue. We are

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getting a better insight into it. It does go back to the same trove of

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documents time after time. A lot is being written about it but probably

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not as much new information. Let's move on to the Daily Express. One of

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its main headlines is on the story about every school in Los Angeles

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being closed because of a terrorist bomb threat. What more is it saying

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that we do not already know apart from the fact that everybody is very

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tense? And America even more so. Los Angeles is very far away from the

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UK. But the San Bernardino attacks happened just outside the

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metropolitan area. I think everybody is trying to figure out whether the

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threat was real or not. People in Los Angeles decided to play it safe.

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There is probably chaos on the roads of Los Angeles as parents try to

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figure out how to pick up their children and employers try to figure

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out what to do without their parents at work. Yes, the US is very tense

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right now. Is this something we're just going to have to get used to?

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It seems that way. This is the first Christmas, the first time when I

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have noticed that people, when they discussed their plans for Christmas,

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suddenly bring in security arrangements. I'm not going to

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mention places that people say they will not frequent but we are seeing

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big-name places. People do not want to go there with their kids any

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more. It seems to be new. It is a worrying development. When people

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start to talk about those things, it gets you to think a little bit,

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should I be going there? The daily express main story is their

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perception that the oil crisis will hit pensions. Yes. The oil price is

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$37 a barrel now. Generally good news for the economy. It is a fiscal

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stimulus. The problem is if you own oil company shares you might be

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relying on them for your dividends. Oil companies are big payers of

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dividends historically. They do not have the money any more. From the

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consumer point of view, your heating bills go down. I am not quite sure

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what metrics they have used tear to say what kind of hit is going to

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happen. If you are not so reliant on dividends you may see a dividend

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from low oil prices. I thought there would be a bit more of Tim Peake

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hold the going were few Britons have gone before. It does make the front

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page of some papers. Fantastic images. I had great fun and BBC News

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denied reporting on this. It is interesting. Maybe they are

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struggling to say something new. It is surprising. This is the first

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Briton. Over 300 million euros a year in the UK gives to the European

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Space Agency. Italy have had five astronauts. Britains -- Britons have

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gone into space before but have done through the back door as space

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tourists. Five Italians and one Briton. It captivated Britain for

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the day. Here is a story that is very annual. Sometimes true,

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sometimes, I don't know. Big Christmas travel nightmare. Rail

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links to to of the country's biggest airports will be shut down. -- two.

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It is horrible for people who are trying to be frugal and pay cheap

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rates on their airfares that you cannot get together with because it

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is closing down, the Gatwick express is going to close down on Christmas

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Eve. That really bites. The trouble is they have to do the work at some

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stage and there is never going to be a good time. No but they could have

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announced that in September and October when people were trying to

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book their holidays. It is a stressful time of the year. Probably

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people are more stress at this time of the year. That is why the story

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has greater resonance now. I wonder if Tim Peake is going to miss

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headlines like that for the next six months. Shaul we return to the FT?

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There is a story that will make many people smile. Starbucks taxes

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beginning to flow for the UK Exchequer. This is after a long

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campaign to pay the tax many feel is due. Basically in 2012I did an

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investigation into Starbucks which showed they were not paying any tax

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in the UK. There were telling their investors they were making very good

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profits in the UK. That led to an outcry. They decided they should pay

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tax and they would not take these deductions they were paying them

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selves in overseas jurisdictions. The money is flowing in. 8 million.

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Many thanks. We will do it again at 11:30pm. We will be back at 11

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o'clock with the main stories of the night, including Tim Peake making

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history, becoming the first official British astronaut to board the

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International space station. Up next, it is Sportsday.

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No need to wait until tomorrow morning 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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