Browse content similar to 22/06/2016. Check below for episodes and series from the same categories and more!
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from "Islamic State" militants, a US military commander says | :00:00. | :00:00. | |
the jihadists are still in control of two-thirds of the city. | :00:00. | :00:00. | |
Those are the latest headlines from BBC World News. | :00:00. | :00:07. | |
Now for the latest financial news with, with Sally Bundock, | :00:08. | :00:10. | |
Global markets remain on edge ahead of the UK Referendu. | :00:11. | :00:18. | |
We get an expert view on the wild swings in currency markets as voters | :00:19. | :00:22. | |
We have a special report on why your vehicle damages | :00:23. | :00:30. | |
the environment more when the temperature | :00:31. | :00:31. | |
In a minute, we'll hear from a farmer in Italy how Brexit | :00:32. | :00:50. | |
would affect him and his country. | :00:51. | :00:52. | |
Today is the final day of campaigning ahead of tomorrows | :00:53. | :00:58. | |
decision on the UK's future in the European Union. | :00:59. | :01:01. | |
Investors, business leaders, central bankers, and politicians, | :01:02. | :01:03. | |
worldwide, have been following every twist and turn causing gyrations | :01:04. | :01:05. | |
The most sensitive has been the currency markets with the pound | :01:06. | :01:09. | |
soaring to a 5.5-month high on Tuesday against the US dollar. | :01:10. | :01:11. | |
Also it was a key part of Janet Yellen's testimony before | :01:12. | :01:14. | |
The head of the US Federal Reserve warning a UK vote to leave | :01:15. | :01:21. | |
the European Union could have serious consequences | :01:22. | :01:23. | |
for financial markets and in turn affect economic growth. | :01:24. | :01:33. | |
With me is Jeremy Stretch, Head of Currency Strategy at CIBC | :01:34. | :01:36. | |
You have been extremely busy. Indeed. Like many of my guests in | :01:37. | :01:50. | |
the past week. Let's talk about the pound. Interesting, yesterday it was | :01:51. | :01:56. | |
soaring, and yet the polls are not in the bag. They aren't saying that | :01:57. | :02:02. | |
remain has it in the bag but it is expected. Last week the Stirling was | :02:03. | :02:09. | |
on a bit of pressure. That character rises strong gains, especially on | :02:10. | :02:14. | |
Monday, with the best movement in eight years. That extended into | :02:15. | :02:22. | |
yesterday morning. Now we have pulled back a bit. Markets are a bit | :02:23. | :02:26. | |
more sanguid about the risks. Central banks globally are very much | :02:27. | :02:33. | |
a tuned to the uncertainties that a Brexit could bring. -- attuned. If | :02:34. | :02:39. | |
these earnings fell after an exit there would be ramifications for | :02:40. | :02:44. | |
other currencies, like the dollar. Talk us through that. The Japanese | :02:45. | :02:49. | |
yen is seemingly going to remain extremely strong. The US dollar as | :02:50. | :02:55. | |
well. Mentioned by Janet Yellen. It has been strengthening. Yet. She | :02:56. | :02:59. | |
mentioned it had been strengthening since the 14, appreciating by 20%. | :03:00. | :03:08. | |
-- 2014. Britain has relied on exports but it has had a dragging | :03:09. | :03:15. | |
effect with productivity. If we saw them exit, the Stirling will fall | :03:16. | :03:20. | |
significantly. But currencies and bilateral. Money flow goes on to | :03:21. | :03:27. | |
other markets if it falls. Including the Japanese yen. It perceived safe | :03:28. | :03:32. | |
haven. That would cause increasing concern for the Japanese | :03:33. | :03:36. | |
authorities. Abenomics has relied on a relatively cheap yen. It will be | :03:37. | :03:42. | |
interesting to see what happens next in terms of what countries do. The | :03:43. | :03:49. | |
G20 summit earlier this year. There was a discussion about currency | :03:50. | :03:54. | |
intervention. It was in the thinking of what people said. The Chinese | :03:55. | :03:59. | |
currency was on the move. Currency wars. In light of this and the | :04:00. | :04:04. | |
strong yen, will be pounds do anything? We have had currency wars | :04:05. | :04:08. | |
mentioned periodically over the last six years. People are discussing it. | :04:09. | :04:14. | |
I think if the Japanese yen is heading back towards 100 against the | :04:15. | :04:20. | |
US dollar than in every the Japanese yen will feel duty-bound to stop the | :04:21. | :04:27. | |
move. They have not been active in the foreign exchange market since | :04:28. | :04:32. | |
2011. If markets are one-sided as Janet Yellen suggested, I think the | :04:33. | :04:36. | |
Japanese will feel it is inevitable that the need to stem the slide. I | :04:37. | :04:44. | |
am meant move. Financial markets globally are watching what is a | :04:45. | :04:50. | |
global issue because of these global ramifications. It will be an | :04:51. | :04:57. | |
interesting 24 hours. It will be. We will talk to you about it again, I | :04:58. | :05:00. | |
am sure. OK now. One major sticking point | :05:01. | :05:02. | |
in the great Brexit They divide the farming community, | :05:03. | :05:04. | |
not just here in the UK, Italian cattle farmer, | :05:05. | :05:08. | |
Fabio Baldassarri, says EU policy has pushed milk prices so low | :05:09. | :05:11. | |
that he will have to sell up He believes a Brexit could spark | :05:12. | :05:14. | |
similar votes in Italy, where anti-EU sentiment | :05:15. | :05:18. | |
is currently running high. TRANSLATION: My name is Fabio. I | :05:19. | :05:36. | |
breed cattle. I think if the UK left the European community, this would | :05:37. | :05:39. | |
cause a domino effect that would give a future to biodiversity in | :05:40. | :05:51. | |
agriculture. We are inundated with meat coming from northern and | :05:52. | :05:54. | |
Eastern Europe with extremely low prices. I am talking about prices | :05:55. | :05:59. | |
lower than 30 cents delivered in the area of Rome when our price of | :06:00. | :06:09. | |
production is above 40 cents. Italy and Europe did not protect us in any | :06:10. | :06:16. | |
way. So, we will have to close our farms. We will be forced to | :06:17. | :06:23. | |
slaughter our animals because we have become no longer competitive in | :06:24. | :06:26. | |
a short time. And, of course, there are many | :06:27. | :06:33. | |
leaders of small and medium size businesses who argue the UK leaving | :06:34. | :06:36. | |
Europe is the best option. To hear all the views, | :06:37. | :06:38. | |
go to the BBC Business Webpage. Please take a look when you have a | :06:39. | :06:50. | |
chance. New research seen by the BBC | :06:51. | :06:53. | |
suggests pollution from many popular diesel cars is much worse when it's | :06:54. | :06:55. | |
colder than 18 degrees outside. It means millions of vehicles | :06:56. | :06:58. | |
could potentially be driving around for most of the year | :06:59. | :07:01. | |
with their pollution controls Testing company Emissions Analytics | :07:02. | :07:03. | |
says it's measured a significant rise in poisonous gas emissions | :07:04. | :07:06. | |
from a wide range of models The SMMT, which represents | :07:07. | :07:09. | |
the industry, says it's all within the rules and it's | :07:10. | :07:12. | |
to stop damage to the engine. More from our transport | :07:13. | :07:15. | |
correspondent, Richard Westcott, It is below 18 degrees for most of | :07:16. | :07:36. | |
the year in Britain. This new research seen by the BBC suggests | :07:37. | :07:40. | |
that millions of popular diesel cars could be driving around with | :07:41. | :07:45. | |
pollution controls partly turned off below that temperature. What is | :07:46. | :07:49. | |
more, it is perfectly legal. Testing company, Emissions Analytics, said | :07:50. | :07:53. | |
it looked that the 100 and 13 different models across 31 different | :07:54. | :08:00. | |
manufacturers. -- 213. On average, about 18 degrees, levels of | :08:01. | :08:06. | |
poisonous gases were 3.6 times over the European limit. Below that | :08:07. | :08:10. | |
temperature, pollution increased to 4.6 times over the limit. The | :08:11. | :08:17. | |
scandal of Volkswagen has ripped the lid off this whole area and people | :08:18. | :08:20. | |
have been investigating in more details. Us and others are | :08:21. | :08:26. | |
unearthing lots of other issues. Loopholes in the regulations that | :08:27. | :08:34. | |
perhaps have been found. They are asked to win down their pollution | :08:35. | :08:41. | |
controls to help the engine. There is suggestion some are taking | :08:42. | :08:43. | |
advantage of the rule because turning it off can improve fuel | :08:44. | :08:49. | |
economy. Can you guarantee they need to do this for engineering reasons? | :08:50. | :08:54. | |
Absolutely. It is about ensuring the engine maintains optimal condition. | :08:55. | :09:00. | |
That means you can get what you expect, the car will start, it will | :09:01. | :09:04. | |
operate smoothly, and there is no long-term damage. Cars have to pass | :09:05. | :09:11. | |
the slightly older emissions test. There are 5.1 million of them on | :09:12. | :09:16. | |
Britain's roads. There are now calls for car companies to come clean | :09:17. | :09:21. | |
about how their pollution systems work. | :09:22. | :09:22. | |
Embattled German auto giant Volkswagen will face the wrath | :09:23. | :09:25. | |
of its shareholders at its annual meeting on Wednesday. | :09:26. | :09:28. | |
Nine months after VW admitted it installed emissions-cheating | :09:29. | :09:30. | |
software into millions of diesel engines worldwide, | :09:31. | :09:31. | |
investors want to know why the German giant is nowhere | :09:32. | :09:34. | |
near drawing a line under this crisis. | :09:35. | :09:36. | |
Shareholders have been vocal about the way VW management has | :09:37. | :09:38. | |
Meanwhile, prosecutors are investigating former VW boss | :09:39. | :09:41. | |
Martin Winterkorn for having allegedly manipulated the market | :09:42. | :09:43. | |
by holding back information about emissions cheating. | :09:44. | :09:44. | |
The market. Different moves going on. The pound against the dollar. | :09:45. | :09:59. | |
And that is the close on Wall Street. Oil above $50 a barrel. See | :10:00. | :10:07. | |
you later. | :10:08. | :10:12. |