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tv   BBC News  BBC News  January 24, 2017 5:45am-6:01am GMT

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according to one of its sources, the us government asked britain to keep the trident malfunction a secret as the obama administration feared the failure would put america's nuclear deterrent at risk. in the independent, britain's supreme court will rule later whether parliament or ministers have the power to begin the brexit process. meanwhile, politicians in northern ireland are preparing measure to block the uk's withdrawal from the eu. the telegraph business pages report that banks are using the euro less and less in international transactions. financiers increasingly prefer to use dollars, indicating the declining importance of the euro to the global economy. any finally, bernie ecclestone‘s ao—year reign at formula one is over. he's been removed from his position by the sport's new owner, liberty media, which has completed its eight billion dollar takeover. the 86—year—old will remain as an honorary chairman and will be an advise, according to the sports independent. $2.9 billion, forbes magazine says he is worth, that has to be down to
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formula one. joining us is lawrence gosling, editor—in—chief of investment week. good morning. let's start with tpp. this is a very easy political then for him. we spend a lot of time last year talking about how this wouldn't be ratified —— win. this is a not very glorious legacy of obama and mr trump with great aplomb effectively ripped up the us part of it, so he's aan ripped up the us part of it, so he's a an election promise to the us people. whether it matters the average us citizen i think remains to be seen. assumedly that would be the fate of the transatlantic trade investment partnership as well, the us-eu investment partnership as well, the us — eu negotiations that are still ongoing. still struggling along, yeah, the acronym, the lawyers have made hay out of this one. but again, complicated deals, and as you said
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in the intro, it is about where the shift in power is moving in terms of world trade, is it moving to asia? mrtrump is trying world trade, is it moving to asia? mr trump is trying to pull it back to north america. this is his attempt to. the ft says it puts protectionism at the height of his policy, that is what everybody fears. that depends on who they are and what they do in the us. there are critics of both tpp and ttip, they say it is protectionism via the back door because of these agreements favour one country or back door because of these agreements favour one country oi’ one section, agreements favour one country or one section, so you can see it both ways. what about this playing into the hands of china, not part of the tpp, australia and new zealand say they will ask china to consider being part of it, 1—1 they call it, so being part of it, 1—1 they call it, so in these trade deals are you not the one benefiting the most. almost taking a part of the small economies
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pa rt taking a part of the small economies part of the agreement?” taking a part of the small economies part of the agreement? i think you are in theory and with china it is moving its economy away from exporting cheap, low value goods into markets like north america, going back to more domestic focus, we see them talking about green energy in the last few weeks as well. so i suspect china won't be surprised about this move and probably won't deter growth in their economy much over the long—term. probably won't deter growth in their economy much over the long-term. the times on the front page has news of a botched nuclear missile test, trident test, which was undergoing during last summer, and the us were keen for the uk to keep it under wraps. it is important to remember the trident missiles are manufactured like lockheed martin, and it is the data system which is said to have not worked, so
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potentially embarrassing for a big us company, and to go back to the politics of it, lockheed martin is the kind of company that the trump administration wants to encourage, wants to see growth and good for americanjobs, so wants to see growth and good for american jobs, so potentially embarrassing and we will have a couple of days in the uk of the opposition trying to put the prime minister theresa may under opposition over this. home secretary at the time? she was, and a she told everyone yesterday, she was briefed on the issue, she took the decision she didn't want to share the great deals with the world for security reasons. a very interesting political angle because then there was a vote in parliament on the renewal of trident, which theresa may back. it will continue until she a nswe rs may back. it will continue until she answers the question directly, which he hasn't. i think this angle which we have picked out on the supreme court ruling to come out at 0930 gmt at the supreme court in london, that northern ireland, it says in the
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independent, wales and scotland, they could be given permission to block brexit plans, but the supreme court is gonna decide on that as well. i didn't realise they were going to rule on that. what is interesting now is the three other home nations, northern ireland, wales and scotland are lining up to make life a lot more difficult for the government in the uk over brexit at the moment. the supreme court ruling at 0930 gmt this morning is likely to confirm what it said previously, that he should be discussed in parliament. the government needs to get this timetable through because they are going to trigger at the end of march article 50 and that is what northern ireland administration wants, a vote on the article 50. we are about to have another election in northern ireland. for the uk have another election in northern ireland. forthe uk government, this is an important sideshow to the whole brexit thing. that is why northern ireland sort of putting in
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its pennyworth becomes significant in the scheme of things. quite interesting. wales originally voted to leave the eu, 52% voted brexit, but since the outcome and the result they have changed their mind in the polls, apparently. yes, go on. 5696 of the northern irish electorate voted to remain. scotland voted to remain. they have all been big beneficiaries of the uk membership through subsidies and grants, as with some poorer areas in the uk. what is investment week's editorial saying since theresa may made that four points she would like to start the negotiations with? yeah, so the line is, interestingly enough, there isa line is, interestingly enough, there is a lot of political noise but the impact on the underlying economy we don't think is significant, other than the weakness in stirling. so far. and i don't think long-term,
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there is a two year timetable. minimum. roughly, we know where we are minimum. roughly, we know where we 'n . minimum. roughly, we know where we are going, the final detail of what are going, the final detail of what a hard brexit is will be ironed out. we think it affects certain industries over others, but overall the economy here is quite robust and we would argue the uk is still a good place to invest, especially in the stock market. very encouraging. unlike the euro, which seems to be going out of fashion, the us dollar used in financial transactions more and more. it is interesting, isn't it, the single currency is still going. still going. it still exists and it has been through periods of great strength, hasn't it, and resilience? yes, and the telegraph talks about the central bank, all of them around the world, saying how transactions in dollars is going up and the euro's popularity is going down, so there is a constant creaking, which makes critics of the
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single currency think, yeah, we might be heading towards the slow demise of its. there is an election in france and germany, it is bound to bea in france and germany, it is bound to be a year where the euro is in and out of favour, isn't it, with the political risk. absolutely, many can blame it for personal economic problems. the end for bernie ecclestone at the age of 86, time to put up his feet and buy some villas, live on his yacht, do what he does? yes, deposed bya live on his yacht, do what he does? yes, deposed by a younger man, the 75—year—old john malone, who runs liberty media. this is an odd one, really, because everyone knew he would be honorary president, and he told a german newspaper he was deposed, as if it was some kind of hissy fit, really. quite a career for him, he was a second—hand car salesmen originally. it was an excellent mary career and f1 is a great global industry. yeah, 0k, excellent mary career and f1 is a great global industry. yeah, ok, so, how much has he popularised the sport? i used to like it, going back
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to the 19705, and now i find it a little bit boring. i think that is probably because you are what we would call a petrol head, are you not, a real fanatic? would call a petrol head, are you not, a realfanatic? no, i am not, thatis not, a realfanatic? no, i am not, that is the thing. he has made it a truly global sport, so whether it makes it popular is another issue. it makes more money, doesn't it? and the races take place in a far greater group of countries than they did ten or15 greater group of countries than they did ten or 15 or 20 years ago.” must admit, i wonder about how they cope with that, the drivers, they move around the world like there is no tomorrow. have you travelled first—class? no tomorrow. have you travelled first-class? no. 0h, no tomorrow. have you travelled first-class? no. oh, there you go. still, stopping time zones and all of those things. 0k, we've got to go. thank you very much indeed. didn't give you a chance to come back. have a good day, goodbye. hello there. well, as forecast, dense, freezing fog caused some problems to travel for monday morning, and it really was quite extensive and dense in places, like this photograph proves in eccleshall, in staffordshire, and it lingered on across some parts
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of the south—east. and where it did linger, it really did feel quite cold, temperatures hovering around freezing. but there was some sunshine around, and the return of clear skies overnight means that freezing fog will make a return, so we're likely to see some further travel disruptions again for tuesday morning. keep tuned to your bbc local radio and head online for the latest update. so widespread, freezing fog developing overnight across england and wales. more of a breeze across scotland and northern ireland, and some milder air pushing in here, with outbreaks of rain. but it really will be a cold start across england and wales. you can see, for most of us, temperatures at freezing or below, and that fog really will be dense, so take care, give yourself time if you are heading out on the roads. a bit more of a breeze, though, for western parts of england and western wales, so i think fog—free here, maybe a little bit of brightness. and quite a contrast across scotland and northern ireland. a milder start to the day than what we saw yesterday morning, temperatures in high single—figures. but there will be a lot of cloud, quite a breeze, and outbreaks of rain, certainly across western upslopes of scotland. and through the day it remains quite
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cloudy and dull here, maybe some further spits and spots of light rain, some of that pushing towards western wales and the south—west of england. but here, where we hold onto the cloud, then it is going to be relatively mild, temperatures ten, maybe 11 celsius. but further east that you are, we should see that fog lifting to some sunshine, but it will feel quite cold. and where the fog lingers all day it is going to feel very cold, temperatures around freezing. the fog makes a return again for wednesday morning, particularly across east and south—eastern areas. and i think it will lift into low cloud, so staying quite grey and cold here. a little bit of sunshine further north and west, and remaining breezy and cloudy for scotland and northern ireland, with further outbreaks of rain. just making double—figures here, but feeling quite cold elsewhere, particularly across the south—east. and that's the theme as we head on in towards thursday. what happens is we pick up quite a strong south—easterly wind, and that will feed in a lot of the cold and very dry air off the near continent, and it's going to feel pretty bitter if you add on the strength of that wind, with that cold air. now, because it is dryer air,
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we should start to see the clouds in the morning breaking up. so a bit of a grey start, but then the sunshine will break through across central and southern areas, maybe some spots of rain just getting into western scotland and northern ireland once again. here, temperatures around five or six degrees, but across eastern areas 1—5 celsius. add on that bitterly cold wind, it is going to feel more like —3 to —5. hello, this is breakfast, with louise minchin and dan walker. judgement day as the supreme court decides who has the power to officially begin brexit. downing street says the government should be allowed to start the process without a vote. but campaigners who've brought the case say parliament must have a say. i will be live at the supreme court where the levy and seniorjudges are prepared to pass theirjudgement and examines in —— examining the process of taking britain out of the european union. good morning, it's
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tuesday 24th january. tougher penalties are on their way for drivers caught well above the speed limit.
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