:00:00. > :00:00.Now for the latest financial news with Aaron
:00:00. > :00:23.The big boss of South Korea's biggest company, Samsung is arrested
:00:24. > :00:26.as prosecutors investigate his role in a bribery scandal
:00:27. > :00:34.And here he is - Oklahoma's attorney general,
:00:35. > :00:37.a man that has sued America's environmental watch dog
:00:38. > :00:50.is today set to become the big boss of America's environmental watchdog.
:00:51. > :01:10.Stay where you are, Richard tells me I have eight and a half minutes and
:01:11. > :01:12.I will try to give you an exciting as it shot off the business world.
:01:13. > :01:14.Samsung's acting chairman JY Lee was arrested this morning,
:01:15. > :01:16.after a court granted prosecutors permission to do so.
:01:17. > :01:19.Prosecutors have said they have new evidence against Mr Lee -
:01:20. > :01:22.that's him there - as they investigate his role
:01:23. > :01:28.in a massive corruption scandal in connection to the country's
:01:29. > :01:37.In a statement after Mr Lee's arrest, the Samsung Group says
:01:38. > :01:42.the company will do its best to ensure that the truth
:01:43. > :01:56.This is the second attempt at prosecution.
:01:57. > :02:00.Our man in Seoul - Kevin Kim - has been following events.
:02:01. > :02:10.Do you think this will stick? Wasn't his father arrested tries and every
:02:11. > :02:20.time the President has stepped in and got him off? His father had
:02:21. > :02:24.suspended sentences. The head of some sank in this case will be kept
:02:25. > :02:32.behind bars as the prosecution continues to investigate before
:02:33. > :02:39.formal charges are filed. They are kept in custody when alleged crimes
:02:40. > :02:45.are serious or they are a flight risk. It is not reflect the guilt or
:02:46. > :02:49.innocence of the accused but the allegation that Samsung gave
:02:50. > :02:55.millions of dollars in return for votes in a big and contrasted
:02:56. > :02:58.restructuring of the company. In previous years, despite criminal
:02:59. > :03:07.charges and convictions, no member of the controlling family has ever
:03:08. > :03:13.served time. Mr Lee will have much to contemplate before a trial begins
:03:14. > :03:18.and can argue his innocence. Do you think this is the beginning of
:03:19. > :03:25.cleaning up the corporate world of South Korea and if you can, for a
:03:26. > :03:36.global audience, the uninitiated, who do not understand the chaebols,
:03:37. > :03:41.how that operates in South Korea? There has always been a cosy
:03:42. > :03:48.relationship between the business groups and politics here. It is more
:03:49. > :03:57.or less I scratch your back and you scratch mine. Regardless of JY Lee's
:03:58. > :04:03.guilt, it is a big blow to the image of Samsung to be behind bars. It
:04:04. > :04:10.will not affect the running and short-term production but that could
:04:11. > :04:15.be long-term effects. For the head of an international company that
:04:16. > :04:20.thrives on a premium brand image to be involved in a corruption scandal
:04:21. > :04:26.is a huge embarrassment. Samsung has said it will do its best to ensure
:04:27. > :04:30.the truth is revealed in future court proceedings but up to now the
:04:31. > :04:34.company has denied the bribery charges and the position has been
:04:35. > :04:41.that contributions were made but it was not to receive favours. Thank
:04:42. > :04:44.you for the update. We will talk to you very soon. We will bring you the
:04:45. > :04:46.latest when we get it. Later today, the Attorney
:04:47. > :04:48.General of Oklahoma - Scott Pruitt - is due to be
:04:49. > :04:52.confirmed as head of the US Environmental Protection
:04:53. > :04:55.Agency, known as EPA. Donald Trump has handpicked
:04:56. > :04:57.Mr Pruitt for the role - a move which has proved
:04:58. > :05:00.highly unpopular among The President has vowed to provide
:05:01. > :05:07.a boost to the US fossil fuel industry by cutting back
:05:08. > :05:09.on environmental regulation - and Mr Pruitt could turn out to be
:05:10. > :05:15.a useful ally in Washington. In recent years, the Republican
:05:16. > :05:21.lawyer has sued the EPA - the very organisation
:05:22. > :05:24.he's set to join - Mr Pruitt's office has attempted
:05:25. > :05:31.to block Barack Obama's signature "Clean Power Plan" and his personal
:05:32. > :05:34.website describes him as a "leading advocate against the EPA's
:05:35. > :05:44.activist agenda." Stephanie Hare, an Independent
:05:45. > :05:57.political risk analyst. Second time this week. This is how
:05:58. > :06:03.rumours start, that is all I am saying. Danty be cheeky out there.
:06:04. > :06:08.Thank you for coming in this horrible hour. This man, let's be
:06:09. > :06:18.frank, hates the EPA but Donald Trump wants him to head it. You have
:06:19. > :06:27.nailed it in a nutshell. He is a man-made climate change and deny
:06:28. > :06:32.with connection to the oil industry? Yes, 3000 e-mails worth of
:06:33. > :06:40.connections to the fossil fuel industry. A judge has ordered his
:06:41. > :06:44.correspondence be made available to the public in order to look at his
:06:45. > :06:51.confirmation but that will not happen until next week and his
:06:52. > :06:56.confirmation is today. The senators would have to read these e-mails.
:06:57. > :07:03.You would imagine they would say, can we hang off the confirmation? It
:07:04. > :07:08.is shocking that this person could be confirmed without the e-mail is
:07:09. > :07:15.taken into consideration at the very least. Izzy invested personally in
:07:16. > :07:22.the fossil fuel industry received just a supporter? He has received
:07:23. > :07:29.the money in his campaigns for the attorney general campaign. That is
:07:30. > :07:34.pretty typical for a politician but we have to check, does he have a
:07:35. > :07:40.vested interest and can he be objective and one would suggest not.
:07:41. > :07:46.He has said he wants to have a regulatory rollback. He sees this
:07:47. > :07:52.kind of organisation as a burden on the industry. He wants to bring back
:07:53. > :07:58.jobs fall cold. Barack Obama wanted to move the US towards a clean
:07:59. > :08:02.energy. There is a real shift. The old and the new. One is polluting
:08:03. > :08:08.and terrible for the environment and the other is great. Where is this
:08:09. > :08:19.person going to fall, that is the question? For those watching, if you
:08:20. > :08:23.could describe the EPA. Obviously, it supposedly protects the
:08:24. > :08:32.environment. 50,000 people work in it and he or Donald Trump wants that
:08:33. > :08:37.cut by two thirds. He wants to cut into 5000 and Scott Pruitt has said
:08:38. > :08:43.he wants to take this as a federal body, he wants to move away from
:08:44. > :08:49.federal regulation and put it towards states regulation. This is a
:08:50. > :08:54.big thing for the Republican Party. Pollution does not respect borders
:08:55. > :09:00.so this is kind of an interesting argument and it will not work when
:09:01. > :09:05.he talks about things about rolling back regulations about water
:09:06. > :09:11.wastage. Barack Obama made it a crime to pollute lakes, rivers and
:09:12. > :09:18.wetland areas. They want to roll that back. Are we going to make it
:09:19. > :09:24.permissible to pollute US waters? I can only imagine, where the people
:09:25. > :09:32.are left or right, that people would be up in arms in the US, surely?
:09:33. > :09:37.Most unusually, we have seen people working for the EPA demonstrating an
:09:38. > :09:44.asking people to call their senators. We appreciate it. Thank
:09:45. > :09:49.you for coming in again, twice this week at 430 in the morning and we
:09:50. > :09:55.have not even the page you! They do not pay me either. -- paid her.
:09:56. > :09:59.In other news: Social media firm Snap - the owner of Snapchat -
:10:00. > :10:01.has confirmed its valuation ahead of its initial public
:10:02. > :10:04.There's been a lot of excitement around the IPO -
:10:05. > :10:08.as there usually is with tech floats.
:10:09. > :10:13.But Snap has valued itself at just $22 billion dollars,
:10:14. > :10:26.significantly less than previous estimates of over $25 billion.
:10:27. > :10:29.Hanjin Shipping used to be one of the world's top
:10:30. > :10:34.But now it faces the final curtain, as Hanjin heads to a court in Seoul,
:10:35. > :10:37.The company sought protection in August last year,
:10:38. > :10:40.after creditors refused to rollover debts which surpassed
:10:41. > :10:45.A slowdown in the global economy, and trade were cited as the main
:10:46. > :10:54.Don't forget you can get in touch with me and some of the team
:10:55. > :11:04.I will be back with James in a few moments to take at look at some of
:11:05. > :11:10.the papers. Results from a clinical trial
:11:11. > :11:13.in the UK which scanned women for breast cancer without using
:11:14. > :11:16.radiation are proving positive. The new imaging system developed
:11:17. > :11:20.in Bristol also provides a pain-free