15/12/2015 The Papers

Africa as England score a lot of runs on the opening day of their

first tour match. That is coming straight the papers.

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

With me are the Middle East Correspondent for the Wall Street

Journal, Margaret Coker, and the Business Correspondent

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

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

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

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

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

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

show more respect to dying patients following complaints from families.

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

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

carries news of plans for a European Union force.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

E's. This is a very important story

because I think the public perception is still there that

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

they have spent 18 months putting together a pretty sophisticated

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

international community is doing to stop revenue coming into Islamic

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

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

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

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

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

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

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

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

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

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

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

discovered and annual reports in which it boasts about its

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

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

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

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

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

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

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

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

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

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

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

UK. But the San Bernardino attacks happened just outside the

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

announced that in September and October when people were trying to

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

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

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

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

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

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

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

investigation into Starbucks which showed they were not paying any tax

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

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

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

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

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

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

history, becoming the first official British astronaut to board the

International space station. Up next, it is Sportsday.