this is bbc news. the headlines at lipm: the chancellor philip hammond calls for a brexit deal that puts the economy first, saying the government wants to manage migration, not shut it down. i'm confident we can do a brexit deal that puts jobs and prosperity first, that reassures employers they will still be able to access the talent they need. barclays bank, and four of its former senior executives, are charged with fraud arising from the financial crisis in 2008. a review into the murder of a toddler in fife says there were "missed opportunities" which could potentially have prevented his abuse. gerard coyne, who stood against len mccluskey to be leader of unite, says he has been sacked by the union. and people are advised to take care as temperatures soar across the uk. it's the first time the country has
seen such a run of hot weather injune for more than 20 years. andy murray begins the defence of his title at queen's. he says another successful week there would be a ‘big boost‘ to wimbledon. good afternoon and welcome to bbc news. the chancellor phillip hammond has called for a brexit deal which puts jobs and prosperity first, saying the government was seeking to manage migration, not "shut it down". giving his delayed mansion house speech in the city of london, mr hammond suggested the current border arrangements of the eu's customs union should be maintained for an "implementation period". the governor of the bank of england, mark carney, said the time was not
right for an interest rate rise as wage growth is falling and the impact of brexit on the economy is unclear. our economics correspondent andrew verity reports. the chancellor's brexit agenda was supposed to be delivered over a sumptuous annual banquet at the city's mansion house last week, but it was cancelled following the grenfell tower tragedy. today he turned up at the same venue for a glass of water, no bow tie, and not a single mention of austerity, only sober warnings about what brexit should and shouldn't mean. when the british people voted lastjune they did not vote to become poorer, or less secure. they did vote to leave the eu, and we will leave the eu. but it must be done in a way that works for britain. in a way that prioritises british jobs and underpins britain's prosperity. today, one of the uk's most successful export industries
gave its own warning that unfavourable divorce arrangements with the eu would be worse than any threat or challenge they have faced in modern times. car industry executives think a favourable divorce could take five years, not two. i think we need to be brutally honest. the chances of getting the bespoke and comprehensive new deal we need is going to take a long time. and we don't have a long time with the clock ticking. what we need is a back up plan. ideally we want to remain in the single market, certainly in the customs union, for the duration until we get that new arrangement. the car industry needs to know if, during the transition, there will be tariffs to make cars more expensive and less competitive when they are exported to europe. as long as they don't know it's hard to plan investment. and without investment the economy cannot grow as fast. there have been warnings that too hard a brexit could cause other economic problems. if fewer people are coming into the country that could mean fewer taxes rolling in so the chancellor
outspends his income more easily, the deficit in other words, gets worse. on that view the risk is the harder the brexit the higher the deficit. if hard brexit means fewerjobs, especially in the city, philip hammond has made his priority clear, but today mark carney warned that any transition, hard or soft, wouldn't be easy. depending on whether and when any transition can be agreed firms on either side of the channel may soon need to activate contingency plans. and before long, we will all begin to find out the extent to which brexit is a gentle stroll along a smooth path towards a land of cake and consumption. the bank of england said it believes weaker wage growth is likely while the transition takes place. and, it says, there is little it can do with interest rates to prevent that. andrew verity, bbc news. the former business secretary,
sir vince cable, has become the first to throw his hat in the ring to replace tim farron as leader of the liberal democrats. after losing his seat in 2015, he has just returned as mp for twickenham in this month's general election. declaring his candidacy, he said he would work to secure a second referendum on any brexit deal. and sir vince cable is in our westminster studio now. thank you for being with us. we can talk about the leader bid. some people have said you would be ca reta ker people have said you would be caretaker leader. your response? people have said you would be caretaker leader. your response ?|i think i have got the experience, energy and enthusiasm to take the party through a difficult period. we could have an election soon, we have got a crew to negotiations and we can make decisions if the young
generation takeover, or continue to fight. people older than me have become prime minister. winston churchill was one. but at the moment we have got a challenging period ahead and we need strong leadership. i would ahead and we need strong leadership. iwould aim ahead and we need strong leadership. i would aim to provide that. age an issue in any sense? 79 at the next election? age is what you feel. i am very fit. i work on fitness. i am not immortal! none of us are! 5 euros is almost geological in this situation. politics is versatile. it is an enormous opportunity because the conservatives are in disarray, labour have done well, but
fundamental questions about economic credibility. and the liberal democrats, it was a disappointing performance at the election to be kind. would you be confident of doing better at the next election? it was mixed. we increased the number of mps, talented bunch. vote share didn't increase, went down. an enormous amount to be done. but as i have stressed, political winds could be shifting. if people began to question seriously ifjeremy corbyn is an alternative prime minister, and if the conservatives lose even more credibility it is a big opportunity for a third party to move into that space. talking about brexit today, philip hammond has talked about putting jobs and first,
prosperity that the government should be managing migration, not shouting that down. does that sound as though they are pushing towards softer brexit? philip hammond has said the same advice, relatively, within government. i think quite a few of his colleagues feel the same way. the option that theresa may was offering, crashing out of the european union, was deeply irresponsible and lacking in economic credibility. the motor industry have spoken today, and chemicals, saying it would be disastrous. we look for sensible compromises. do you think philip hammond is going to get his way in cabinet? change the mind of the brexiteers? i am not in the cabinet any more, but that more balanced approach certainly reflects the mood of the public, after the result of
the election. the government is not going to be able to continue with this ludicrous idea that no deal is better than a bad deal. that is not sustainable. philip hammond has been saying what most people accept to be true. in terms of the leadership of your party, what do you think went wrong? tim farron, obviously he left feeling he had been badly treated. do you think he was badly treated?” wa nt to do you think he was badly treated?” want to pay tribute to him. he took on the leadership when we had the terrible election, 2015. we had gone a long backwards. he has built up morale, membership at the highest level. he did a positive thing. but he had these problems, struggling to cope with them, and i regret the
fa ct cope with them, and i regret the fact that he felt it was necessary to stand down. what he has. looking for a replacement and that is why i have come forward. you sympathise with that problem, the big issue about gay six, a sin in his view?” can sympathise with his dilemma. i think a genuine liberal, somebody who has got deep convictions of his own, but does not try to impose them on others. tim farron did that. should have been given credit. but could not seem to get through to the voters, as nick clegg did before?” do not agree with your analysis. some things went very well. we targeted certain seats, including mine. we could not get the increased vote share, and that is what we have
got to focus on, rather than endless postmortems. i am got to focus on, rather than endless postmortems. iam positive got to focus on, rather than endless postmortems. i am positive about the future of the party, and the fact that tim farron to that position, that tim farron to that position, that position, that is to his credit. you campaigned on the platform of the second referendum. sticking to that? it has got to be pa rt sticking to that? it has got to be part of the future agenda. in the election just past, a part of the future agenda. in the electionjust past, a lot part of the future agenda. in the election just past, a lot of people could not grasp what we were arguing. we do respect the referendum that has happened but we argue... you would still be asking people if they want to come out of the european union. you would be re running it! bad-tempered that question back to you. after the brexit process, the british public should be asked if they accept what the government is negotiating. it could be a sensible outcome, but it may not be. it could be disastrous. the public have got to be asked if
they want to continue to get into a disastrous outcome, or want to reopen the question of membership. that option has got to be there. thank you for speaking to us. looking very youthful! the serious fraud office has charged barclays bank and four former senior executives with fraud. the case is connected to billions of pounds the bank attracted from qatari investors so it could avoid a government bailout during the financial crisis in 2008. those charged include the bank's former chief executive, john varley. our business correspondent, simon gompertz reports. the end of an era for british banking, some of the biggest names go cap in hand to the government. the financial crisis, banks in danger of failing, lloyds and rbs had to be bailed out. but barclays bank got billions of pounds of help from oil—rich gulf states, including qatar. now the charge is over how that was done. i am going to ask you one more time, move, please!
the chief executive at the time, john varley, becomes the first head of a bank to face criminal charges from the crisis. if the allegations were to be proved, my sense is this would result in a fine for barclays, rather than the loss of its banking licence. it would be a fine that a bank of this size could comfortably handle. the individuals themselves, the fact of being charged itself must be a hammer blow. the five year investiagtion related to two bouts of fundraising in 2008 which raised £12 billion, mostly by selling new ba rclay‘s shares. it focused on more than £330 million of advisory fees paid to qataris. there were questions about the transparency of these payments, and a loan of over £2 billion made by barclay‘s to the state of qatar, just after the shares were being bought. john varley faces two charges of conspiracy to commit fraud through false representation betweenjune and october of 2008. and one charge of unlawful financial assistance.
rogerjenkins who was head of investment banking time faces the same three charges. his lawyer said he'd vigorously defend homself against them. thomas kalaris, the former boss of barclays wealth division faces one charge of conspiracy to commit fraud, as does richard boath, another seniorfigure, who said he had no case to answer. barclays plc itself faces all the same charges as a company. barclays managed to avoid being rescued by the taxpayer in the financial crisis, yet it has become tainted by some of the most serious allegations to come out of that episode. its response to those charges is to say it is considering its position, while it waits for more information from the serious fraud office. fraud charges carry sentences of up to ten years if individuals are convicted but it doesn't stop there for barclay‘s. the fca is considering a heavy fine. ba rclays says it faces
investigations in the us, as well. simon gompertz, bbc news. joining me now is lord myners, former financial services secretary to the treasury from 2008 to 2010 and now a cross—bench peer. clearly some sensitivity around this. live investigation. tell us your thoughts when you heard this? we know that the serious fraud office have been looking into this for five years. getting additional funding from the treasury. it will be the first, probably last case to come before the courts, if barclays do not read guilty ahead of that. the first case, where we will see what happened during the banking crisis.
how decisions had been made. in some ways, it is going to be part of adding to the national comprehension of how the great bank such as ba rclays got of how the great bank such as barclays got itself into such an exposed position. as we heard... it was always noted at the time that ba rclays took was always noted at the time that barclays took a different approach to some of the other banks? yes. the british government had basically concluded with the support of the bank of england and the fsa, as it then was, that the banks have been undercapitalised. could not absorb losses. needed more capital. be said to the banks, we will oblige you to ta ke to the banks, we will oblige you to take capital from us, to the banks, we will oblige you to take capitalfrom us, unless to the banks, we will oblige you to take capital from us, unless you to the banks, we will oblige you to take capitalfrom us, unless you get it from another source. none of the other banks, able to raise capital
from private markets, largely because the general view was that banks were on investable. —— uninvestable. it was a surprise to a lot of people, including myself that ba rclays was successful in recent capitalfrom ba rclays was successful in recent capital from other countries. they found it politically objectionable to have the british government as a shareholder, and they knew that the government would come with a lot of strings attached, relating to cutting pay and bonuses. clearly, looking for capital where they were not attached. and when they got the capitalfrom not attached. and when they got the capital from the qataris, people had been surprised? yes. including the treasury. when it comes to the reputation, this case has not been concluded but barclays has had a
rough ride, along with many big banks. where does this leave them?” think it is the new leadership of ba rclays, think it is the new leadership of barclays, it is very different to the past. but it has been beset with a number of problems over the last 20 years. skated on thin ice, on tax... tax avoidance. and it does not leave ba rclays in tax... tax avoidance. and it does not leave barclays in a particularly pretty position. this is hugely embarrassing. i have been involved in the world of finance for 15 yea rs. in the world of finance for 15 years. i have got to go back to the 19705, years. i have got to go back to the 1970s, early 70s, to think of charges of this magnitude being applied to people of the significance who are on the charge sheet today. some of them have already come out, saying that they
are going to vigorously defend themselves. we have got the bank and individuals leasing charges. —— facing charges. how normal is that? it is unusual and will make for some tension. evidence will have to be given to support the position of the bank, and it could be possible, who knows, that we will see some of views. division about recollections, what happened. it is possible that some may want to settle and others will not. lots of moving parts here. and we will have to see how this works out. but we are talking about huge amounts of money, and an sfo investigation that exceeds the scale of anything the crew to has ever done before. interesting to get your
thoughts. thank you. we can get you the latest on the negotiations between the conservatives and the dup. party from northern ireland. those talks have been under. theresa may, losing the majority in the election and trying to get a deal with them. the queen's speech tomorrow. we are hearing that these talks are not going as well as expected. dup sources... have said that they want the conservatives to give "a greater focus on discussions to form a stable government and that the party has got experience of talks process and worries that they
could be taken for granted". we will have more on that with our northern ireland political editor after five o'clock. the headlines on bbc news: the chancellor philip hammond says he is confident the uk can reach a deal with the eu which putsjobs and prosperity first, and insists immigration will be managed, not shut down, after brexit. barclays bank, and four of its former senior executives, are charged with fraud relating to the bank's fund raising during the 2008 financial crisis. a review into the murder of a toddler in fife says there were "missed opportunities" which could potentially have prevented his abuse. and in sport... andy murray defending his crown at queen's. 0n court now. at birmingham, konta is through. the british number one attempting to get her first grass
court title. jose mourinho has been accused of tax evasion from his time at real madrid, prosecutors have said that he owes more than £300 million. and the lions have warmed up million. and the lions have warmed upfor million. and the lions have warmed up for the all blacks, beating the chiefs in hamilton. more after half past. a review into the murder of a toddler in fife says there were "missed opportunities" which could potentially have prevented his abuse. the two—year—old was murdered by his mother rachel and her partner nyomi, after a campaign of mental and physical abuse, which included locking him in a cage. but the independent review said liam's death could not have been predicted and that significant improvements had been made to services since 2014. 0ur news correspondent andrew black has been following the story and spoke to us from glasgow earlier.
liam was two years old when he was murdered by his mother, rachel and her partner, naomi, in glenrothes in march 2014. both women received life terms. liam died after a ruptured heart after blunt force trauma to the body and he had been subjected to a sustained campaign of physical and mental abuse. following the trial, an independent review was launched into the circumstances leading up to his death there after a number of witnesses told the trial that they had raised concerns about the toddler's health and well—being with social services, and today, we have the main findings of that review which have been published by fife council. the report said that liam's death could not have been predicted but it said that there were missed opportunities across services to provide support to the family could have led
to a better understanding of their circumstances, potentially preventing the harm potentially liam suffered. his mother and her partner were considered to be devious and manipulative and hindered social services, using disguised compliance to play off one health professional against another. crucially, this review found that since 2014, significant improvements have been made across all services. in the time the report has come out, we have had some reaction from the independent chair of fife's child protection committee, and he says the results of this case review paint a picture of services struggling to see through the dealings of manipulative parents. he said there were aspects of the case that could have been managed more effectively, but his main point is that today's
report has provided a way of emphasising improvement that could go across all child protection agencies, and he hopes that provides some reassurance that everything that has been outlined in this review is being put in place or is in place already. the former football coach, barry bennell, has been charged with 14 further counts of historical child sexual abuse against four boys aged 11 to 14—years—old. it's in addition to more than 40 other charges of historical child sex abuse and indecent assault that he is already facing, following an investigation by cheshire police. mr bennell has worked for a number of football clubs, most notably crewe alexandra. he's due appear via video link at south cheshire magistrates' court next week. police are continuing to question a 47—year—old man after a van
was driven into a crowd of muslim worshippers in north london. one person, who was being given first aid when the van struck, has died. nine others were taken to hospital. recent attacks have led to renewed calls for the government to reverse planned police funding cuts. daniela relph reports. the flowers and messages close to finsbury park mosque. they are words of defiance, of unity. 0vernight, 24 hours after the attack, worshippers returned to the mosque. the regular rhythm of prayer during ramadan was unbroken, despite the violence of the night before. the attack here added to the unrelenting pressure on the police in london. the met‘s commissioner was among those who visited yesterday and joined a vigil. today she spoke out about the strain on her force. we are not having any fewer calls from the public for help. we are stretched. i'm talking with the mayor and the government about the resources that we need,
i believe, in the future. as well as the regular work in a busy capital city, the met police has faced an intense few weeks. with the terror attacks, as well as the loss of pc keith palmer. a former commissioner now believes any government cutbacks planned for the met have to be stopped. the cuts being considered, certainly for the met, need reconsideration. as far as i understand, they are to lose a further £400 million by 2021 on top of £600 million in the last few years. that means the met must be a quarter less in size than when i left. reconsider what? no cuts. looking at what is happening, the idea of continuously cutting the police service's budget is seen as an absurdity at this stage. there is a calm here now after the distress of yesterday, but that doesn't take away from the fact that this is a community feeling unsettled and concerned. the police cordons have been moved.
to look around, finsbury park is back to normal. but yesterday's attack has deeply shocked the muslim community here. they feel targeted, vulnerable, and uneasy. we feel like something needs to be done. more things need to be done. islamophobia, unfortunately, is on the rise and so is hate crime, so we have to do something to stop this madness. the cycle of violence will lead us nowhere. this is a community that needs reassurance. in a city with a police force facing exceptional challenges. daniela relph, bbc news, finsbury park. band we have just got some news from the home office, the government is not going to reduce the metropolitan police budget by £400 million.
police budget by £400 million. police spending was protected in the 2015 review. the metropolitan police have had a largely flat budget since then,in have had a largely flat budget since then, in line with other forces across the country. the home office denying what was suggested. they said that they have protected spending in real terms, and police still have the resources that they need to cut crime and keep communities safe. just one other line... quotation, we expect the metropolitan police along with other forces to manage their costs, within the broadly flat cash budget, improving efficiency and productivity. that comes against the backdrop of yesterday, the mayor of london sadiq khan at finsbury park
mosque seem london sadiq khan at finsbury park mosque seem we cannot have london sadiq khan at finsbury park mosque seem we cannot have any london sadiq khan at finsbury park mosque seem we cannot have any more cuts to police funding. interestingly... you can follow more on this tomorrow at 10am on the bbc parliament channel, where the police and crime committee will be exploring security and counter terrorism, priorities for the new commissioner and challenges for policing in london. no doubt, some of these issues going to come that. now the weather. the heatwave will be with us for the next 24 hours, but it will cool down as we get to thursday. this was the picture in st ives with the sunny skies there and the beaches. we have got the sunshine with us. high temperatures into the low 30s. it will be a very warm night. it will be an uncomfortable night's
sleep ahead. for tomorrow's forecast, we have got thundery rain to start the day across northern parts of the uk. across england and wales it is another hot and sunny day. if anything hotter. we see temperatures up to 34 celsius. that will be the hottestjune day for over 40 yea rs. will be the hottestjune day for over 40 years. but it is going to end ina over 40 years. but it is going to end in a bang as we go on through wednesday evening and night—time, thunderstorms will become widespread. this is the beginning of the end of our hot spell. we will see the storms breaking out. torrential rain and gusty winds mixed in and by the time we get to thursday, temperatures will be nearer normalfor thursday, temperatures will be nearer normal for the time of year of the that's your weather. hello. this is bbc news. the headlines at 4.33pm: the chancellor philip hammond has called for a smooth brexit to avoid a "cliff edge" for businesses as the uk leaves the european union. mr hammond also said that
immigration would be "managed but not shut down". barclays bank and four of its former top executives have been charged with fraud in connection with a deal to raise investment from qatar at the height of the financial crisis in 2008. gerard coyne, who stood against len mccluskey to be leader of unite, has been sacked by the union. he says he is "deeply disappointed, but not surprised" at his dismissal. a review into the murder of toddler liam fee, has said there were "missed opportunities" which could potentially have prevented his abuse. he was murdered by his mother and her partner in fife in 2014. the family of the man alleged to have carried out the finsbury park mosque attack say they are "devastated" and "massively shocked." 47—year—old darren 0sborne was restrained and arrested at the scene. for the fourth consecutive day the temperature has risen to over 30 celsius in some parts of the uk. the
met office issued a health warning for those most vulnerable to keep hydrated and cool. now the sport with reshmin chowdhury. the defending champion andy murray is in action right now at queen's where he is up against a different opponent to what he expected. he was due to face fellow brit aljaz bedene who then withdrew with a wrist injury. so, instead, the world number one is playing australia's jordan thompson, ranked 90th in the world. the pair have never played each other before. you can continue watching this live on bbc two. the man who murray beat in last year's final is already out. milos roanic of canada, who also reached the wimbledon final,
was beaten in straight sets earlier by australia's thanasi kokkinakis who is the world number 698. and the shocks keep on coming. the three—time grand slam champion stan wawrinka is out as well. the swiss was beaten in straight sets by spain's feliciano lopez. johanna konta has reached the second round of the pre—wimbledon event in birmingham as she attempts to become the first british woman to win a grass court tournament on home soil in 40 years. she beat ukraine's lesia tsurenko in the first round of the aegon classic. in the second set konta needed to consult the doctor after complaining of a heart condition, but she recovered to win in straight sets — 6—3, 7—6. the manchester united boss jose mourinho has been accused of tax evasion from his time at real madrid where he was manager from 2010 to 2013. it's the latest in a series of high—profile tax fraud cases involving football stars in spain. more from our reporter simon stone.
the claim made in a statement today is that mourinho owes 3.3 million euros which is £2.9 million. the allegation is that mourinho failed to declare revenues from his image rights with the aim of obtaining illicit profit. the prosecutor said that mourinho had already paid £1 million in 2014, but that information provided at that time was incorrect. there has been no comment from jose mourinho who is not due back in the country for another two weeks ahead of pre—season training with manchester united. meanwhile cristiano ronaldo has been summoned to testify in his tax fraud case which has led to him claiming he wants to leave real madrid. he is accused of hiding income from the authorities in spain and denies the charges. he's due to appear on 31stjuly. it's the first day of horse racing's royal ascot meeting and the big race of the day was won by barney roy.
the aiden o'brien—trained churchill was the favourite having won the english and irish 2000 guineas earlier this season. he finished fourth. the lions have won their final match before the first test against the all blacks on saturday. warren gatland insists the selection meeting for that match in auckland will be one of the toughest ever especially after the so—called midweek side's victory in hamilton this morning against the chiefs. england wing jack nowell scored two of the four tries in their 34—6 point victory. the lions' most emphatic of the tour so far. we're we' re pretty we're pretty happy with where we are a the moment and the place we're in asa a the moment and the place we're in as a group of players and yes, the selection meeting with will be tomorrow and that's the way you want it and guys put up their hand tonight and no doubt there will be
some healthy debate about the test side. that's all sport for now. it's 1-1 it's1—1 between andy murray and his opponent. i'll have more in the next hour. thank you very much indeed. the chancellor's mansion house speech. philip hammond saying the uk should maintain existing customs arrangements with the european union until a new long—term system can be phased in. in other words a transitional arrangement. well, the customs union sees countries sharing a free trade area and common external tariffs. well, asked about philip hammond's speech today, the eu's chief brexit negotiator, michel barnier said it was too soon to talk about transitional arrangements. so let's get more on what he has been saying, our correspondent in
luxembourg right now is adam fleming. adam, i'm sure we're going to get a lot of this. politicians here saying one thing. mr barnier and others in the eu giving their response, but what has he been saying about what the chancellor had to say earlier on? yes, ben, day two of the official brexit negotiations and this is what it's like already. michel barnier the eu's chief brexit negotiator has been in luxembourg today meeting eu, foreign ministers. the second session this afternoon, the british representative was asked to leave and the remaining 27 got an update from him on his talks with david davis the brexit negotiator from the uk yesterday. although current events managed to get in the way and all us journalists wanted to know is what he thought about the proposal from know is what he thought about the proposalfrom philip know is what he thought about the proposal from philip hammond know is what he thought about the proposalfrom philip hammond that there should be a transitional arrangement where the customs arrangements between the uk and the eu remained as they are now. mr barnier gave it short shrift saying
it is far too soon to talk about any kind of transitional phase or implementation phase that comes between the uk leaving the eu and full brexit further down the line. the reason he says that is because the eu's focus at the moment is organising and negotiating the principles for the withdrawal agreement and that focuses on three big things, the rights of eu citizens living in the k and vice versa, how much the uk is going to pay, to keep up with its commitments it made to the eu even after it has left and thirdly, the issue of the border between northern ireland and the republic of ireland. so that is where michel barnier and the other 27 ministers who have been here, that's where their focus is right now. i gather he has been talking about the possibility of compromises further down the line, is that right? yes, so yesterday, the theme of the talks between michel barnier and david davis was all chumminess,
friendly, diplomatic and then right at end michel barnier said in his final closing remarks he wasn't in the mood to compromise because the uk had to face up to the fact that it was it's decision to leave the eu. interpreted by some people as the eu dropping the pretence of friendliness and playing a bit of ha rd ball friendliness and playing a bit of hard ball with david davis. i asked mr barner about that, whether he regretted saying that phrase, he didn't talk about whether he regretted it or not, but he said that he realise down the line there we re that he realise down the line there were going to have to be some compromises made by both sides. so it is stepping back from the harsher rhetoric we saw at the end of the negotiating session. there was another keyword he uttered the word, " pa rallel. " another keyword he uttered the word, "parallel." the issue about whether the talks happen, we have the withdrawal stuff first and the trade arrangements. he said that some aspects of the discussions would happen in parallel, but he repeated his mantra that the principle of the uk's withdrawal had to be agreed first before everyone could start
talking about what the future arrangement looks like. thank you very much indeed. the culture secretary will announce a decision at the end of this month on whether to demand a further investigation into 21st century fox's purchase of sky. karen bradley said she has now received the reports she needs on whether to allow the tie—up between the two media industry giants to go ahead. a little earlier i spoke to the bbc‘s media editor amol rajan about what the takeover could mean. if we wind back a few years, rupert murdoch's company bid forfull control of sky in 2010-2011. it was derailed by the phone hacking scandal. n0w it is 21st century fox that wants full control of sky. they already own 39%, so this is about getting up to 100% and what the culture secretary did before the election, she referred it to 0fcom, the regulator. one was media pleurality.
and another was about commitment to broadcasting standards and there is the whole issue of whether or not the murdochs are fit and proper people to own the licence. what happened today is that 0fcom have concluded their reports. they have submitted it to karen brady and she said let us know by next thursday what she is minded to do. she has an option to delay this further, putting it into phase two of the regulatory test with the competition and markets authority. people think it is likely to go through. but, it is too early and given the news agenda, i wouldn't want to be the first person to say! the murdochs have their critics, shall we say, there are a lot of people who will say that this is, if it does get the go—ahead, it will be a political decision to allow that and be nice to murdoch? the decision is about do you feel that one man, one family, has excessive control of britain's media? now, one of the arguments that 21st
century fox and james murdoch, the son who is particularly pushing this whole agenda and the whole deal through is that the media landscape has fundamentally changed from six years ago. not only is it 21st century fox, but if you look at the revolution in digital media, there is more competition around and the argument that fox are using is in an age where media is so democratised, it would be wrong to say it is an excessive concentration in the hands of one family, but we know that theresa may has met with murdoch. we do know that murdoch is hugely influential and as you say, ben, there are many, many critics who say that actually this man has had too much powerfor so long, don't give him anymore. amol rajan there speaking to me earlier on. in a moment a look at how the financial markets in europe closed the day, but first the headlines on bbc news: the chancellor, philip hammond,
says he is confident the uk can reach a deal with the eu which puts jobs and prosperity first and insists immigration will be managed, not shut down, after brexit. barclays bank and four of its former senior executives are charged with fraud relating to the bank's fund—raising during the 2008 financial crisis. a review into the murder of a toddler in fife says there were "missed opportunities" which could potentially have prevented his abuse. hello. i'm rachel horne. now a look at how the markets in europe have ended the trading session. markets in europe started the day up, but were pulled down by falling commodity prices. brent crude is at a seven month low due to increased supply from nigeria, libya and the us and
that has affected petroleum companies including bp and shell and that is one of the main reasons why the markets are down this afternoon. brexit negotiations have begun and the smmt, the society of motor manufacturers and traders, have stepped up today and said that britain is highly unlikely to reach a final agreement with the eu by the march 2019 deadline. they say this means car—makers will face a "cliff edge", where tariff—free trade is sharply pulled away. and the industry will suffer unless there is a back—up plan in place. we'll get the market reaction on that in a moment. elsewhere on the currency markets the pound fell after the bank of england governor, said he did not favour an interest rate rise at the moment. sterling was down against the dollar at $1.26, sliding after mark carney made the comments in his mansion house speech this morning. and to barclays because the bank and four former
executives have been charged with fraud over their actions in the 2008 financial crisis. the serious fraud office case relates to the way the bank raised billions of pounds from qatari investors enabling it to avoid a government bail out. the share price down more than 1.5%. let's start there with our guest tom stevenson, investment director at fidelity worldwide investments. tom, thank you very much forjoining us tom, thank you very much forjoining us this afternoon. so let's start with that barclays share price. would you have expected more of a move on the share price given the fraud charges? well, yes and no, rachel. i mean clearly, criminal charges from the serious fraud 0ffice charges from the serious fraud office are a big deal. not least because these are the first criminal charges relate together behaviour of banks and their executives around the financial crisis, but financial markets tend to move on what they didn't already know and clearly, you know, the markets have known about this probe for sometime and also it
has been factored into the price. ba rclays shares are has been factored into the price. barclays shares are cheaper on most measures than their peers across the atla ntic measures than their peers across the atlantic in america and also in the uk. so it's largely in the price, i think. 0k. let's move on tom. let's talk about brexit negotiations. they have officially started, but how significant is today's statement? this statement from the smmt, the society society of motor manufacturers and traders saying there must be a interim deal in place or the motor industry will suffer? i think the real significance of this comment is who it has come from. so the motor industry is very closely linked with the ought owe motive industry across europe, the supply chains in that industry are very closely linked and they would really suffer from any imposition of tariffs or slowdown in the movement of goods across borders. and european europe is a very big deal as far as the british motor industry is concerned. it
ta kes motor industry is concerned. it takes half of our exports, that's four times as much as the biggest other single market. tom, some clarity this morning from the bank of england governor, mr mark carney saying that he doesn't see interest rates going up soon. what do the markets make of that? well, i think the markets have assumed for sometime that interest rates are not going up any time soon. so we have seen going up any time soon. so we have seen inflation rise and normally the central bank would raise interest rates in the fas of inflation, but mark carney knows and we all know that it mark carney knows and we all know thatitis mark carney knows and we all know that it is to do with the currency. it's not to do with an overheating economy and because of that he's right to look through the inflation figures and focus on the fragility of the economy. thank you very much for your time this afternoon. let's look at how markets are faring in the us. we've got the ftse back up in the us. we've got the ftse back up again, but markets in the us are down. qoet is down just like. up again, but markets in the us are down. qoet is downjust like. it up again, but markets in the us are down. qoet is down just like. it has been pulled down by petroleum linked shares hit by the fall in the oil
price. we have got the oil price there. it is down again. down at $45, 82 cents a barrel. that's it from me. you can get more business news on our website. bbc.co.uk/business we have been hearing through the course of the afternoon according to a senior source from the dup that there was concern that they might be taken for granted. that's what we we re taken for granted. that's what we were hearing just a short while ago. we're hearing from a source that there is an expectation the agreement to form a stable government can be finalised potentially with an announcement on thursday. so very much mixed m essa 9 es thursday. so very much mixed messages coming out of the talks. 0ur ireland correspondent chris buckler in is in belfast. we have got a bit of brinkmanship going on here, chris? yes, ithink got a bit of brinkmanship going on here, chris? yes, i think we have
got a bit of game playing going on, but a little bit of frustration from the dup. up until this point they have been saying let's get a deal. let's get a deal right and let's keep on working at this in our own time and not pushing it and some felt it was the tories who were saying let's get this together before the queen's speech. we have had numerous days in which we have talked about a deal is possible potentially tomorrow, even some suggestions yesterday that a deal could be done today. now we are talking about thursday. but if you look carefully at what this dup, senior source is saying, there is inevitably a little bit of frustration at the way it has been handled by the conservatives. they point out that they have been involved in lots of negotiations, lots of tricky negotiations and they say that they think there is a danger of them being taken for granted. now, if that's one warning shot at theresa may, here is one that's open. i want to read what this source said, "they said, "if theresa may could not negotiate a deal with the dup, what does that mean for bigger negotiations that she is involved in?" that's clearly
a reference to brexit. that is also clearly a shot at theresa may herself and it seems like the dup are now putting the pressure on for are now putting the pressure on for a deal, perhaps they are apart on some of the things. we know they have got lots of different issues they want to talk about, one is brexit and another is influence and another is strengthening the union, the other one is cash. they want money for northern ireland. with the queen's speech tomorrow they clearly feel they can put the pressure on, of course, the biggest day will be when the votes take place as regards the queen's speech will be next week. the government does have some time to work on this. theresa may has some time, but the dup are saying you need to focus on this now. we want a deal and we want it now. we want a deal and we want it now. given the slate mixed messages, chris, do you think it's an issue of policy and deal making in terms of wanting harder agreement or do you think it is a personality issue as well? i think at this stage it is
very much about the dup wanting the best deal they can do. they have dealt with lots of personalities over the years and frankly if you look at the relationship between the dup and sinn fein, there are people there that don't agree on an awful lot. as far as the dup and the conservatives are involved, they tend to agree on a great deal. albeit with some exceptions for example the questions about social issues, which we have seen talked about a lot over the past few days. nonetheless, i think there is very much a message to theresa may in this and that would suggest that there is frustration certainly with number ten at this stage. the fact that they are mentioning her in the briefings that they are giving to journalists saying that she needs to ensure that this negotiation takes place is about putting the pressure on her. but don't get me wrong, the dup see the potential for a deal here. they want a deal. but they're just saying they're getting frustrated with the time it's taking and they're trying it get the best dealfor and they're trying it get the best deal for them, and they're trying it get the best dealfor them, that and they're trying it get the best deal for them, that they can. and certainly, the line that has come
out is that the talks are ongoing, very much an attempt to reassure that this hasn't fallen apart, but if and it's obviously a huge if things got very sticky, do you think there is a risk that either side would walk away or are theyjust so determined to make this work?” think the dup will be trying to make this work. one of the things that they have said time and time again is they do not want a jeremy corbyn government or any suggestion of that. they feel that the conservatives are much more alined with their policies than labour and ultimately, the dup see the conservatives as their best hope for a stable government at westminster. bear anyoned m the dup are involved in two separate negotiations taking place here at the same time. they are involved in the deal to try and get stormont back up and running. that deadline is next week. they have until the end of the month to try and ensure that power sharing is restored here. so they are looking at two different things at the one time. and ultimately, having the ear of the british government, which is
something that is concerning sinn fein, that's something that's good for them as far as stormont is concerned as well as for westminster. they want to be able to influence things and i think they will still want a deal. the big question is when will that deal finally be done? as i say, the queen's speech is tomorrow. but that big deadline for them comes for when the queen's speech is actually voted uponin the queen's speech is actually voted upon in the house next week. ultimately theresa may will certainly want to have done a deal by then. certainly if she wants sta ble by then. certainly if she wants stable at westminster. chris, it is good to have your thoughts. chris buckler there, thank you. an amber heatwave alert has been issued for the uk, as many parts of the country head into their fifth day of temperatures above 30 degrees centigrade. it's the hottest heatwave injune for 20 years with tomorrow predicted to be the hottestjune day since 1976. there are warnings about the dangers posed by the high temperatures for elderly people, children and babies. at whipsnade zoo the keepers took the opportunity
to keep their chimps cool in a novel way! they've given them ice lollies and ice blocks which the chimps took to with enthusiasm. not ice creams though. no, i think they have got lots of healthy fruit. i was looking at grapes there, embedded in the ice.” i was looking at grapes there, embedded in the ice. i think they'd like an ice cream. now the forecast. it is fairto like an ice cream. now the forecast. it is fair to say that it's going to stay hot. chris fawkes can tell us. another day for getting out and about and enjoying the sunshine which has been strong once again. this was the scene sent to us by beach seeker showing the sunshine in st ives in cornwall. after a hot day, we are seeing temperatures into the low 30s. it will be a warm night. 26 celsius would you believe it still at 10pm this evening. so it
will be an uncomfortable night's sleep for many. we have got the fresher conditions for northern ireland and scotland and the far north of england. as we go through the night, some thundery rain is likely to move in across the northern half of the uk. further south across wales, the midlands and east anglia, wednesday morning dawns onafamiliar east anglia, wednesday morning dawns on a familiar note. clear blue skies and plenty of sunshine and temperatures lifting into the low 20s. further north, for the far north of england, for northern ireland and for scotland, it is a day where it will be unsettled, unlike today. so we're looking at a change in the weather. there will be bursts of thundery rain working eastwards a cross bursts of thundery rain working eastwards across these areas. some of that rain could be heavy, but later in the day as we get towards the latter part of wednesday afternoon. to the soth of this, the sunshine will be strong. so high levels of uv, very high levels of uflt v in places and the hottest day of the year so far. the hottest day of the year so far. the hottest day of the year so far. the hottest day of the current heatwave, temperatures potentially hitting 34 celsius. if we get 34 celsius that
will make it the hottestjune day for over 40 years. it will all end in tears in a way. some big thunderstorms will develop as we go on through wednesday evening and wednesday night—time as well. they will be widespread storms with torrential bursts of rain. lots of thunder and lightening. there could be hailand thunder and lightening. there could be hail and gusty winds and the rain could be enough to cause localised flooding as well. the storms still around for thursday morning. then what follows is something we're more familiar with. normal temperatures. 18 to 23 celsius for most. still on the warm side for south—east england, but a fresher feel to the weather everywhere. and that trend with our weather continues into friday and the weekend. temperatures back down to normal. there will be sunny spells and a few passing showers, but it won't be anywhere near as hot as it has been over the last few days of the heatwave. yes, the heatwave is coming to an end. things turning fresher for most parts of the country through thursday. by friday and saturday, sunday, we are looking at much more
co mforta ble sunday, we are looking at much more comfortable weather for getting a decent night's sleep. that's your weather. today at five, jobs and prosperity must come first in any brexit deal, the chancellor sets out his own goals. speaking in the city of london, phillip hammond said that people had voted to leave the eu but not to become poorer. i'm confident we can do a brexit deal that puts jobs and prosperity first, that reassures employers they will still be able to access the talent they need. we'll have the latest on what philip hammond had to say on brexit on the eve of the queen's speech, as new questions emerge about the stability of theresa may's government. the dup says that talks with the conservatives on supporting theresa may's government are not proceeding as planned, and they warn against being taken for granted. police continue to question a 47—year—old man after a terror attack near a london mosque.