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tv   BBC News  BBC News  November 7, 2017 8:00pm-9:01pm GMT

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this is bbc news. the headlines at 8.00 the latest paradise papers revelations show prince charles campaigned for climate—change agreements to be altered, without disclosing that his private estate had a financial interest in the reforms. a former welsh government minister has been found dead, just days after being sacked over misconduct allegations. boris johnson has admitted that his comments about a woman who has beenjailed in iran could have been more clear. also ahead in the next hour... an elderly driver is spared jail after he accidentally killed two women in his car. it has reignited debate about whether the rules should be changed. and conservationists celebrate the arrival of a babyjavan gibbon — the first to be born in the wild to parents rescued from the pet trade. good evening and
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welcome to bbc news. tonight, more questions about how the royal family invest their millions. the latest revelations from the paradise papers — the cache of leaked documents about tax havens — show that prince charles‘ private estate — the duchy of cornwall — secretly invested in an offshore company in which a close friend was a director. that's perfectly legal, but he's been accused of a conflict of interest because he went on to campaign for international rule changes that would have benefited the company. the prince's spokesman insists he's never chosen to speak out on a topic simply because of an investment decision. the paradise papers were shared with the international consortium of investigativejournalists — including the bbc‘s panorama programme. richard bilton has this report. for years, prince charles has campaigned on environmental issues.
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this week he's in malaysia, yesterday he spent time in the rainforests of borneo. but panorama has discovered he campaigned on one issue that he secretly stood to profit from. the paradise papers show the prince of wales‘s private estate, the duchy of cornwall, had $4 million in tax havens of the cayman islands and bermuda. this document shows $1 million in an offshore fund. their annual report says the prince is actively involved in running the duchy. the governance of the duchy of cornwall allows the prince of wales to have hands—on involvement so you can really see it stamped all over his turf. we found one deal that centres on this man in the cap. he was one of the prince's oldest friends. he was a director of sustainable forestry management ltd. they were registered in bermuda and traded in
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carbon credits, a market created by international treaties to tackle global warming. sustainable forestry management ltd would have made more money if international regulations were changed to include carbon credits from all forests. the chronology of events raises serious questions for the prince. in february 2007, the duchy buys 50 shares worth $113,500. at that time, sfm's directors agreed to keep the duchy shares confidential. van cutsem asks for a lobbying documents to be sent to the prince's office. the prince begins making speeches, campaigning for changes to two
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international agreements on carbon credits. injune 2008, he sells his shares for $325,000, a profit of more than $200,000. but we cannot find, nor has the players's of his being able to show us, any speeches prince charles made on this specific issue before he bought his shares. he made three major speeches in the seven months after he bought them. i think it is a serious conflict. there is a conflict of interest between the investments of the duchy of cornwall and what he is trying to achieve publicly. i think it is unfortunate that somebody of his importance, of his influence, becomes involved in such a serious conflict. this is the sort of thing the prince was saying in his speeches. the european carbon trading scheme excludes carbon credits for forests
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from developing nations. this has got to be wrong. despite the prince's lobbying, the regulations surrounding carbon credits were not changed. his spokesman said the prince of wales is free to operate thoughts and suggestions on a wide range of topics. the prince does not have any direct involvement in the investment decisions taken by the duchy and he has certainly never chosen to speak out on a topic simply because of a company that it may have invested in. i think what happened was wrong. what i do not think is that he deliberately acted in a way which was unacceptable. i think if he realised the context in which he had been asked to do something, he would have acted in a different way. there is no suggestion that any of this is illegal or tax was a boy did and it is impossible to know why
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the share price rose after prince charles‘s estate secretly invested in his friends company. but for the second time in a week the paradise papers raise serious questions about how royal cash is being managed. 0ur royal correspondent is with me, what do you highlight in terms of prince charles? coming as it does two days after the revelation about the duchy of lancaster, so here we are talking about the duchy of cornwall, this is the prince of wales private estate, it's the way he raises income to pay for his office and the office of his children. so the first issue is this issue of offshore trusts and we heard of, or seen from the paradise papers that the trust, the duchy invested in $3.9 million in four funds in the cayman islands in 2007.
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now clarence house have given their response to this offshore investment. they say the prince of wales does not have any direct involvement in the investment decisions taken by the up duchy, so careful use of language as to what he may or may not have been aware of. it is worth thinking about looking at the website which says that the duke is actively involved in the running of the duchy and his philosophy is to pass it on in a stronger and better condition, so that maybe gives an indication of his involvement. there is no issue of tax avoidance because the duchy of tax avoidance because the duchy of cornwall is exempt from paying tax and the prince of wales has as the queen does voluntarily paid income tax, so this is not an issue where the hmrc is missing out but it perhaps doesn't chime with what people would expect from the royal family's finances. that is where this suggestion from some of a conflict of interest comes in?
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quite. this is to do with the second issue that came out, that is this investment in a firm sustainable for trimanagement, it is a small amount, only round $100,000s and there is no detailed responsibility to this, in particular, but the statement says clarence house statement says the prince doesn't have any direct involvement in investment decisions is and he has never chosen to speak out on a topic because of a company it may have invested in. in a sense what they will say is that charles, in this instance would not have been motivated by financial gain, his interest and long—term interest is in the rainforest, is in the environment, but again this issue of the headline, they don't look good. when you have someone like sir alistair graham the former chairman of the standard in public life describe it as a serious conflict of interest there are question, and finally it raises this issue of
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transparency about royal finances and the challenges of having an activist prince, someone who will be the king, who wants to speak about sensitive issues and one, he has a financial stake in. thank you very much sarah. in other news tonight, a senior welsh politician has been found dead after facing allegations, from a number of women, about his personal conduct. carl sargeant, who was a9, took his own life. a labour member of the welsh assembly, he was sacked on friday from his job as cabinet secretary for communities and children and suspended from the party. 0ur wales correspondent, sian lloyd reports. carl sargeant was a well—known figure in welsh politics. his role as cabinet secretary for children and communities was close to his heart, but the married father of two was sacked from thatjob on friday by wales' first minister carwyn jones amid allegations about his personal conduct made by a number of women. today mrjones said he was shocked
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and deeply saddened by the news of carl sargeant‘s death. the assembly member had been suspended by the labour party and an investigation began, but carl sargeant maintained he was never told the exact details of the allegations against him. labour's leaderjeremy corbyn described his death as deeply shocking. all allegations must be examined and pursued, but there also has to be a great pastoral care and support given to everybody involved in these accusations. police were called to carl sargeant‘s home shortly before 11 o'clock this morning. it is understood the 49—year—old had ta ken his own life. his wife bernie and children lucy and jack are devastated. he was the glue that abound us together, they said in a statement tonight. at the welsh assembly flags have
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been lowered to half—mast and there is a feeling of sadness as well as shop. there was shock when the accusations were made because it was not typical about what we understood about carl sargeant. and certainly today the news of his death created a shock, as if we had a bereavement in the family, and that went across all the political parties. all business here at the national assembly has been suspended as a mark of respect to carl sargeant. the mood here is sombre as members reflect on the man they knew and questions remain about the personal turmoil that surrounded him. sian lloyd, bbc news at the national assembly for wales. 0ur correspondent roger pinney has been in carl sargeant‘s north wales constituency connah's quay. earlier i asked him how the community was reacting to the news of his death. if will is one word i have heard and
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over again it is shocked. poo telling me they were shocked when he was sacked from the welsh government and they have been shocked today, to the point of disbelief, to learn that he has died. people here told me ofa that he has died. people here told me of a man deeply rooted in the community here in connah‘s me of a man deeply rooted in the community here in connah's quay to the extent he lived a street away from the house where he grew up, i am standing outside connah‘s from the house where he grew up, i am standing outside connah's quay labour club. i was talking to bernie at fridge, the deputy leader of flintshire county council. he said he grew up with carl sergeant. they joined the salvation army together, they began their political careers at local level at the town council. he tells me that he was absolutely
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devastated and that has been the story of the day really. and what about carl sergeant the politician, what kind of politician was he? he was community secretary in the welsh cabinet and was community secretary in the welsh cabinetand a was community secretary in the welsh cabinet and a man rooted in his community, he had come up from the bottom. a bit of a political bruiser in the labour party, and he was a big strong man and this is a very tough old fashioned labour area, a very fair tough old fashioned labour area, a veryfair man, tough old fashioned labour area, a very fair man, we are told, people have paid tributes from all the different political party, here in north wales the police and crime commissioner who is plaid cymru, he paid tribute saying he was a man with a big heart but always politically unpartisan. you get a since this was man who was liked near the community and admired in the community, and respected politically. the latest paradise papers
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revelations show prince charles campaigned for climate change agreements to be altered without disclosing his private estate had a financial interest in the reforms. a former welsh government minister has been found dead just days after being sacked over misconduct allegations. borisjohnson has allegations. boris johnson has admitted allegations. borisjohnson has admitted his comments about woman who has been jailed in iran could have been more clear. time for the sport now. good evening. david moyes says he has a point to prove after becoming the new manager of west ham united. he is yet to confirm who his back room staff will be amid rumours he will bring in stuart pearce at his number two. he took training for first time this morning, he has been out of work since leaving sunderland when they were relegated at the end of last season. he has been speaking
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to the club's media team. it has only been the lastjob where i feel as if it wasn't a good move. ididn't i feel as if it wasn't a good move. i didn't enjoy it and it didn't work out well, so i am hungry to make sure i get things right. any football manager wants to win and thatis football manager wants to win and that is what i want to do. i want to win andi that is what i want to do. i want to win and i want to make sure for me the supporter, everybody, we enjoy oui’ the supporter, everybody, we enjoy our saturday nights because we are winning games. gareth southgate has lost three more players to injury ahead of the friendly with the two top ranked teams in the world. sterling delph and henderson will miss out. gary cahill has joined the squad for training after being passed fit by his club. that is ahead of back—to—back game against germany and brazil at wembley stadium. more bad news for the ashing preparation, steven finn will miss the series after picking up a knee injury training in australia. he has damaged cartilage in his left
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knee, that end his hopes of making the squad for the series, which sta rts the squad for the series, which starts on the 23rd of this month. he has been replaced by tom curran, england take on an australian ii in a washing up match starting in the early hour of tomorrow morn. england's women are preparing for their crucial ashes test, that begins on thursday morning, they have been training at the sydney oval, knowing only a win will do. they currently trail australia 4—2. if australia win that test, they won't be beaten in the series. it was imperative we learned a lot from the last game, the last three days, and i think not only have we, you know, learned more but some of the youngsters have really picked up a lot of information that wasn't there before. so, you know, it is important we spend the next few days really going on from that. and hopefully there will be a nice win inafew
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hopefully there will be a nice win in a few days' time over here. kenya's 0lympic mar shone champion has been banned for doping for four year, she won the london marathon last year, before becoming the first kenyan woman to win an olympic gold in the event. she was initially suspended in april but will be unable to defend her title tokyo. she tested positive for epo. andy murray says he hopes to be fit again for the new year but won't rush back to action following his hip injury, he is back on court this evening playing in a hearty event in glasgow, against roger federer. trailing by four games to two. he admits he made a mistakes in trying to get ready for august's us open. admits he made a mistakes in trying to get ready for august's us 0pen.|j am to get ready for august's us open.” am ina to get ready for august's us open.” am in a better place i was in the build up to the us open and certainly at the end of wimbledon, i was really struggling there, you know, walking was a big problem for
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me, soi know, walking was a big problem for me, so i am just trying to get myself back to 100%. me, so i am just trying to get myself back to 10096. rugby union referee will make history when she becomes the first woman to take charge of a european professional clu b charge of a european professional club match. she has been an assistant referee in the challenge cup and pro 1a and will officiate in the european challenge cup match between bordeaux and the russian cub club. and that is all the sport for now, i will have more in sportsday at 10.30. now, i will have more in sportsday at10.30. see now, i will have more in sportsday at 10.30. see you then. the foreign secretary faced calls to apologise, and even resign, this afternoon over comments he's made about a british woman, nazanin zaghari—ratcliffe, who's being held in iran. she was arrested last year for supposedly being part of a coup plot. mrjohnson told mps last week that she was there to train journalists but her family insist she was on a family visit. they say the foreign secretary's comments could add years to her prison sentence. this afternoon, mrjohnson said he was sorry if his remarks had been "misconstrued" — lucy manning reports. she has been held for 584 days,
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separated from her daughter gabriella and her husband. nazanin zaghari—ratcliffe from north london is iranian and british. imprisoned by iran and now her case seemingly undermined by the british foreign secretary. borisjohnson‘s comets to mps last week suggested she was in iran training journalists before her arrest. we need to look at what nazanin zaghari—ratcliffe was doing. she was simply teaching people journalism as i understand it. herfamily always made clear that the thomson reuters employee was visiting relatives with her young daughter. i do not think it was helpful, i think it was a mistake and it needs to be corrected. she came out of the court and cried during most of the phone call because she was bewildered because of the new charges. the iranian suggested
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boris johnson's comment shed new light on the case. it has meant that five years in prison could be doubled to ten. the foreign secretary had to call the iranian foreign minister and was forced to clarify in the comments. the uk government has no doubt that she was on holiday in iran when she was arrested last year and that was the sole purpose of her visit. i accept that my remarks could have been clearer in that respect and i am glad to provide this clarification. he faced calls to resign. how about the foreign secretary himself shows a bit of personal responsibility and admits a job like this where your words hold gravity and your actions have consequences, it is simply not the job for him. eventually after nearly an hour there was a sort of
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apology. i am sorry if any words of mine have been so taken out of context and so misconstrued as to cause any kind of anxiety for the family of nazanin zaghari—ratcliffe. according to the foreign office, the iranian foreign minister said today the fact that nazanin zaghari—ratcliffe had been brought back to court was not due to boris johnson's comments and he promised to work with the british government to try and resolve the case on humanitarian grounds. for her husband richard he cannot get a visa to see his wife in prison or his daughter. she now knows how mum is in prison and should she thinks we are both in prison. he now wants the foreign secretary to visit his wife when he travels to iran in the next few weeks. priti patel has apologised for holding a series of undisclosed
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meetings with senior israeli officials during a private holiday over the summer. the international development secretary met senior figures, including the israeli prime minister without "following the usual procedures". ms patel apologised for not informing the foreign office and suggesting borisjohnson knew of her meetings in advance. 0ur political correspondent eleanor garnier is in westminster for us. given we have seen priti pateling, thought ops the situation she has found herself? she continued to face calls for her resignation to be sacked and it does appear that pretty sell seems to have been economic with the truth, about who exactly economic with the truth, about who exa ctly s he economic with the truth, about who exactly she had visited, on that summer exactly she had visited, on that summer holiday to israel, we now know she saw the israeli prime minister netanyahu, and she appears
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to have been economic with the truth about when she told and who she told about when she told and who she told about the visits and also what she divulged about what had been discussed in some of the conversations she had on that summer holiday. as you pointed out, she has apologised, we understand she was called to downing street, i think we can take that as her being given a dressing down by the prime minister, and the government now believes that and the government now believes that a line has been drawn under the matter, that priti patel understands that what she did wasn't on, and she understands that she won't be doing that again, but, priti patel wasn't round in the house of commons this afternoon when mps wanted to ask questions about the issue, instead, another minister was there to, if you like defend priti patel. there was some anger among mps that yes, priti patel is on another foreign trip. she is in africa, she should have been there to explain herself, andi have been there to explain herself, and i think if theresa may's
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position wasn't so precarious, these calls for her to be sacked might be getting more traction. whereas as we saw a moment ago boris johnson was in the commons today. do you think in what he said there, he has managed to put the issue with regards to the woman in prison in iran to some extent, it has improved his situation over this?” iran to some extent, it has improved his situation over this? i am not sure that he has satisfied his critic, think some people see this as the latest diplomatic gaffe in a series of difficulties that the foreign secretary has got himself into. think back to last month at the conservative party, he angered the conservative party, he angered the libyan government saying at a fringe sthraent the town of sert if it was cleared of dead bodies it could be a good place for tourists. i think it is the fact that theresa may is not in a strong position, she is in may is not in a strong position, she isina may is not in a strong position, she is in a fragile position, she is dealing with the claims of
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harassment, sleaze round westminster, her deputy in all be name damian green is being investigated for allegations he deny, she has lost her defence secretary michael fallon. she is dealing with brexit, the battle with brussels and those negotiation, she doesn't have a commanding majority, so doesn't have a commanding majority, soi doesn't have a commanding majority, so i think she is finding it clearly very difficult to move her ministers around and they will not making life easy for her, i don't think it is any surprise to guess that theresa may is probably pretty relieved that tonight parliament goes into recess, it will have a few days after up and down i suspect she is hoping thing also calm down. and we'll find out how this story — and many others — are covered in tomorrow's front pages at 10:40 this evening in the papers — our guests joining me tonight are journalist dina hamdy, and broadcaster david davies. he wrongly pressed the accelerator
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instead of the brake, in the car park of withington community hospital in greater manchester. relatives of the two women gasped in court as thejudge relatives of the two women gasped in court as the judge said he was suspending the two—year response sentence. —— prison sentence. philip bull won't be going to jail. but a judge says he will for ever bear the burden of having killed two people. claire has lamb and deb a clifton died after he versed his car into them. his defence barrister was saying about how remorse. he was, sorry, he has never once directed that at us as a family. that is the least he could have done. it happened on the car park of withington hospital. 90—year—old
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bull was reversing his automatic ford focus. he panicked, pressed the accelerator instead of the brake. a report by a police investigator said such mistakes weren't uncommon, particularly among elderly drives in automatic vehicles. at manchester crown court he admitted two counts of causes death by dangerous driving and today faced a judge to discover what his punishment would be. the judge described this as a truly tragic case in which—0 bull made a catastrophic mistake, he said no sentence could ever truly reflect the value of the lives lost. turning to philip bull he said the fact is you will live for the rest of your life in the knowledge that your untend actions resulted in the deaths of two people. that is your burden to bear. he imposed a two—year prison sentence but suspend it for two yea rs, sentence but suspend it for two years, at that point there was a gasp from the public gallery where some of the dead women's relatives
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we re some of the dead women's relatives were sitting. he said he understood that some members of the family would find the sentence difficult to accept. we haven't had justice, you know what, they kept going on about him, how he has lived to 90. what a great life they have had. a long life. my sister and herfriend is not, they didn't even get to see 50. they had so much left to live for. statistically older drives have fewer collisions than those in their early 20s but cases like this reignite debate about tightening the rules for older drivers. with me is rebecca ashton, head of driver behaviour from a charity which trains elderly people to become better drivers. welcome. tell us more about the work you do with older drivers? we have a mature driver review, which is an honest, opinion, of somebody‘s driving. it isa opinion, of somebody‘s driving. it is a really useful tool, for
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families, and for the driver themselves to go through and see how they are drive —— their driving is compared to the standard we require to have on the road. so that honest opinion comes from whom? those circumstances? it comes from one of our highly experienced, trained examiners who will look at the driving and be able to give them that sort of extra help they might need. it may be a case of their driving is brilliant. i have sat with a few 90—year—olds who have knocked spots off my driving so it is important they get this opinion, and can be given that bit of help sometimes to be shown sort of in the right direction of where they need to be. how much willingness is there among people to take part in something like that?” among people to take part in something like that? i think, among people to take part in something like that? ithink, it comes from the individuals, most mature drivers are really good at self—regulate, i personally have an aunt who doesn't like driving at night. the older the person is they
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do self—regulate and try and take themselves out of situations they don't think they will be so good at coping with. this isn't necessarily age determined. no, it could be anybody at any age, in fact older drivers are safer than younger drivers are safer than younger drivers on the road. they don't speed, they are less inclined to drink and drive so they are quite safe. i asked a question about it being age—related because you will bya being age—related because you will by a were of the voices that suggest there needs to be a legal restriction here and maybe an age limit, i sense you wouldn't back that? we don't. we don't want retesti ng. that? we don't. we don't want retesting. think think instead of renewing it at 70, we do it at 75, together with a certificate from the optician to say that you have had an eye test and your eyes are good because i think that would get rid ofa because i think that would get rid of a few people that, haven't got good enough eyesight and if they haven't, perhaps it will give them
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glasses and welcome them to a new bright word. after that, if it is 75, with the eye test, would you continue that process after that? yes, i think so, there is no, there is no research out there that shows a particular age, 70, there is nothing to say that at 70 you are a worse driver or more likely to be involved in an incidents. thank you very much for coming in. let's check on the weather now. 0ne one of those days for many parts of the country, assistant close by and at times it looked as miserable as that. and then, as it cleared, the sun came out and in scotland and northern ireland and the far west of wales and parts of the south west, a pretty decent afternoon. the cloud and rain gradually easing further east and we complete that process this evening and overnight. behind
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that front, underneath those clearing skies, the temperatures really will dip and there will be a widespread frost in parts of scotland, northern ireland, the north of england and parts of wales and maybe even in the south. and wednesday, still that front looking with some rain in east anglia and the south—east and the bright and crisp the conditions and in the north—west, more cloud and wind and rainfor north—west, more cloud and wind and rain for western scotland and northern ireland. hello. this is bbc news. the headlines... leaked financial documents have revealed that prince charles campaigned for climate—change agreements to be altered without disclosing that his private estate had a financial interest in the reforms. the investment by the duchy of cornwall in a bermuda—based firm, has been described as a serious conflict of interest. welsh assembly member carl sargeant
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is found dead days after being sacked as a minister, because of allegations about his personal conduct. it's thought mr sargea nt took his own life. the foreign secretary, borisjohnson, has said he's sorry if his remarks about a british woman in prison in iran caused her family anxiety. he suggested nazanin zaghari—ratcliffe had been training journalists, remarks her husband says could have harmed her case. ajudge has spared a 90—year—old man from jail after he knocked down and killed two women in his car last year. relatives of the victims say they're outraged at the decision. and conservationists celebrate the arrival of a babyjavan gibbon, the first to be born in the wild to parents rescued from the pet trade. more now on the emerging revelations from the paradise papers, the leaked documents showing the inner, secret workings of the rich and powerful.
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tonight it has emerged that a major investor in britain's commercial property market avoids paying uk tax. blackstone is one of the richest companies in the world and, among many other properties, owns the st enoch shopping centre in glasgow. bbc scotland's investigations correspondent, mark daly, reports. st enoch‘s centre in glasgow, one of the best known shopping centres in scotland. in 2013 was bought by private equity firm blackstone for around £190 million. it's ceo and founder is stephen schwartzman, one of president trump's closest confidants and an outspoken critic of high taxation. blackstone is one of appleby‘s biggest customers and the law firm was integrally involved in the purchase of st enoch. the paradise papers laid bare the lengths that blackstone, one of the biggest, richest companies in the world, went to to avoid paying uk taxes. the data reveals
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confidential reports by the accountancy firm deloitte. under the codename project genesis, they provide a step—by—step guide tailor—made to help blackstone avoid tax at every stage of the purchase. it starts with a deft swerve of £7.6 million in stamp duty. we asked a tax campaigner for his assessment. so what you have here at the st enoch‘s centre, to all intents and purposes, is an economic fiction because that trust is owned offshore and they can avoid stamp duty. so that is £7 million or £8 million right from the off saved? saved or taken. with the trust is owned by a series of blackstone luxembourg companies. despite having a major base in london, blackstone has been given non—resident landlord status by hmrc. meaning they can collect rental income on the property tax—free and send it to luxembourg. but the profits are written off against interest payments on loans from one end of blackstone to another. this means only a few thousand
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pounds in taxes were paid. when they borrow that money, they need to pay interest on it and those interest payments destroy any profitability in those companies. and the end result is no taxes due? yes. and because they are borrowing money from themselves they can claim a tax deduction on that. deloitte, who designed this legal scheme, declined to comment. it seems like a complete charade. a glasgow shopping centre generating cash and rental income here in scotland but that cash flows tax free out of scotland and into luxembourg via the offshore tax haven where the st enoch‘s centre is effectively owned. jersey is a crown dependency which means it's independent but the uk is ultimately responsible. jersey specialises in trusts and there are thousands of them based here. one of the many benefits to holding, say, property in the trust is privacy.
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it's completely hidden from the public. but one of the other main attractions is that they can help companies avoid paying british taxes. if the money has come from the uk or it's come from around the globe, the united kingdom decides, rightly, it is sovereign matter, what tax should be payable. we injersey decide what taxes should be payable injersey, that's how it should be. if there are concerns in the united kingdom about how people are structuring their investments in the united kingdom, if there are concerns there, then the united kingdom government should change its tax code to deal with that. the st enoch‘s centre trustee company limited is registered here at the appleby office injersey, with no apparent economic link to a shopping centre in glasgow. in a statement, blackstone said... tax loopholes do close and laws can
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tighten but offshore firms like appleby always find new ways to exploit the gaps. mark daly, bbc news. and you can see more of that investigation in scotland's paradise papers here on the news channel at 9:30pm. so what have we learned so far 48 hours on from these revelations? with me now to discuss the leaks is rita de la feria, a professor of tax law at the university of leeds. i'm alsojoined byjude scott, ceo of cayman finance, a group that promotes the cayman islands' financial services industry. thank you for coming on. what do you think we have learned of
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significance in the last 48 hours? what the leaks show if there is a wide spectrum in which tax havens are used from the very innocent investment in offshore accounts that might have nothing to do with tax to a much more sophisticated level of planning that can border on avoidance. would you accept that analysis of the paradise papers? my focus is really on the cayman islands and we are a very transparent jurisdiction and when we look at what has come from the paradise papers to this point, there is no significant issue with regard to what is reported that is what we would expect based on the quality of jurisdiction we have. you talk about being transparent, you will be aware that there are some people who
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regard you and others like you as being too secretive because we cannot see what is going on in some of those accounts based there.” would say we are very transparent. a new look at legitimate transparency, that includes injuring that inflation is available to proper middle letters, taxing and policing authorities around the world, and thatis authorities around the world, and that is we have done for many years “ proper that is we have done for many years —— proper regulators. we continue to uphold the highest standards globally except for that. do you see the cayman islands in that way? tax havens in general are characterised by two basic characteristics. 0ne havens in general are characterised by two basic characteristics. one is a preferential regime that normally includes very low rate of tax or even a zero rate of tax and a certain level of secrecy and transparency. there have been many lists of tax havens done by
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different international organisations including the 0ecd, and the cayman islands does pop up as one of the havens sometimes appearing on those lists. as one of the havens sometimes appearing on those listsm as one of the havens sometimes appearing on those lists. if the 0ecd thinks you should be on that list, why do you think you should not be? that information is incorrect. the cayman islands does not show up on any tax haven list for the oecd. and with regard to the two items that were shared as definitions of tax havens, the cayman islands does not really qualify for either of those. when you talk about having differentiated tax rates, the cayman islands does not have those for foreign entities. the cayman islands is also not aid the jurisdiction, we don't have shell companies, numbered accounts or anything like that. and we have signed up as early adopters of the crs. can i be clear? you say you
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don't have differential tax rates but you do have low tax rates across the board? we do have low tax rates. which is what makes you appealing. that is not the only thing that makes us appealing. we have been able to develop a very strong platform here in cayman to attract providers of investment and financing to those who need investment and financing in an environment that does not add a third layer of tax to the transactions. both sides are properly reporting and paying their taxes, as they would have if they we re taxes, as they would have if they were doing the transactions directly with each other. i will come back to you ina with each other. i will come back to you in a moment on the impact of that but if the tax rate is significantly lower somewhere like the cayman islands than it is for example in the uk, what impact do you say that has? tax competition is not a clear—cut yes or no situation. there is a gradation. rates can go
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from zero and by the weight what i meant earlier was preferential tax regimes, not differential, and you can go from zero up regimes, not differential, and you can go from zero up to a0%, 45%, and it is true that there is that spectrum and the uk is not by any means one of the countries with the highest rates of tax. indeed there are several countries around the world, for example germany, that would say that in some situations the uk could count as a tax haven itself. it is not a clear—cut division. but it is the case that the cayman islands does offer preferential tax regimes to corporations and individuals. staying with corporations, if you area staying with corporations, if you are a corporation and you see that preferential tax rate to use your phrase, you would perhaps argue that
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by taking your finances there rather than keeping them in the uk, you keep more of your own money, you can invest it further and grow as a result. there is that argument. there is. i think that argument can be made in the case of corporations and there is some research that supports the case that multinationals that do use tax havens are able to lower their costs and therefore become more competitive. there is some evidence thatis competitive. there is some evidence that is the case, but it is a controversial argument because essentially it means that those companies that are big and capable of hiring tax advisers that will structure their affairs in that fashion will be at a competitive advantage compared to those smaller businesses, for example, that cannot higher a tax adviser and cannot build those arrangements that will minimise their tax costs. if i can talk about individuals, if you are a private individual and a wealthy
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private individual and a wealthy private individuals in the context of what we're talking about, and you know you can take your finances to somewhere like the cayman islands where the tax rate is significantly lower, you are effectively aiding people, are you not, from avoiding paying tax back in their own countries and therefore that country, talking about the uk, needs to raise more tax from people who stay here and play by the rules. do you not acknowledge that that is potentially a problem in all this? that's not correct. cayman is not a tax haven. when we look at the bulk of the business is done here, it is through our investment funds and asset management sector with over 70% of the global hedge fund is, thousands of venture capital funds, we also have a very strong insurance, reinsurance, banking, capital markets, trust and finish we practice is here. when we look at the bulk of what is done in the cayman islands, it is about connecting folks, it could be
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individuals or businesses or countries, that are properly reporting and paying their taxes in their jurisdictions reporting and paying their taxes in theirjurisdictions with other parties who are properly paying and reporting taxes in their jurisdictions. what we are not doing is adding an extra layer of tax to it. they pay you less. if we were to add an extra layer of tax, it would mean that those home jurisdictions would have a smaller tax base on which to collect taxes and we don't think that is appropriate. and finally on the 0ecd point summer despite numerous government measures to bring cayman in line with the tax transparency guidelines from the 0ecd, cayman is still only deemed largely compliant according to the latest report so would you accept there is still some way to go in what you are doing?” there is still some way to go in what you are doing? i would say that we rank very highly in that force if you compared the cayman islands with all the other t20 countries, we rank very nicely with highest rank
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companies. but that is not com pletely companies. but that is not completely compliant. —— g20. companies. but that is not completely compliant. -- g20. in that case they would either be at our level or ranking worse than ourselves and we do not want to be punishing those countries because they worked very hard as we have to have the high ratings that each have. we must leave it there although we could carry on for some time. thank you both very much. staff shortfalls are now the biggest single risk facing nhs hospitals in england. the group representing health trusts says recruitment and retention of nhs staff is lagging behind patient demand and is leaving existing workers on what it calls "the edge of safety". the government insists it's launched the biggest ever training programme for doctors and nurses. our health editor, hugh pym, reports. intolerable pressures on front—line nhs staff and severe workforce shortages, that's life on the front—line, according to the group representing hospitals and other
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trusts in england. i think they are now working on the edge of safe services. we are seeing so much pressure on the front line. so what we've got to do is make sure that we can really manage that demand, but also increase the workforce. and here at kingston hospital in south—west london, they say uncertainty over what brexit means for eu staff has added to the workforce problem. so the worry is the turnover of staff, the loss of the skilled, experienced people we have, but also the supply lines for the future of making sure we can recruit people, therapists, nurses, doctors from the eu. can we attract them in, in this very unstable environment? including nurses, doctors and support staff, kingston hospital employs 3,000 people. last year, 460 staff were eu nationals. this year, that's fallen to 384, though the trust says it's managed to fill the gap from elsewhere.
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i met some members of staff at the hospital affected in different ways by brexit. i've had colleagues in tears. they believe they haven't so far had strong enough assurances to make them feel secure about their status. i'm concerned about how things are going to develop. how things are going to be decided in the future. what the deadline is going to be in order to apply for settled status. so, yes, there are lots of questions still hanging around at the moment. and, yes, lam concerned, i'm concerned for the rest of my family. the department of health said nurse and doctor training was being increased and the future of eu nationals was a top priority in the brexit talks, so their valued contribution to the nhs could continue. hugh pym, bbc news. the headlines on bbc news... the latest paradise papers revelations show prince charles campaigned for climate—change agreements to be altered
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without disclosing that his private estate had a financial interest in the reforms. a former welsh government minister has been found dead, just days after being sacked over misconduct allegations. boris johnson has admitted that his comments about a woman who has beenjailed in iran could have been more clear. an update on the market numbers for you. here's how london and frankfurt ended the day. and in the the united states this is how the dow and the nasdaq are getting on. the bbc has told the house of commons culture, media and sport select comnittee that it's currently investigating 25 cases of alleged sexual harassment. not all of the individuals facing allegations are thought to be current staff. a number of the cases are believed to be historic. let's take a look at some of the other stories making the news. a 31—year—old man who was convicted
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of murdering his adopted baby daughter has been jailed for life with a minimum term of 18 years. matthew scully—hicks inflicted numerous serious injuries on 18—month—old elsie over eight months. she died after being violently shaken and struck on the head. in a victim impact statement, elsie's birth grandmother said the little girl would still be alive today if she hadn't been taken by social services. a 56—year—old man has died in hospital five days after an arsonist set off a commercialfirework inside his home. anthony nicholls had been in an induced coma since he was rescued by firefighters in tile cross, birmingham, last thursday. police say the firework exploded for two minutes, gutting the interior of mr nicholls' home. the government's promising to release details about the likely impact of brexit on different sectors of the uk economy by the end of the month. more than 50 reports have been drawn up, but ministers had argued that publication would weaken britain's hand in negotiations
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with the european union. but following a parliamentary defeat on the issue last week, they've now agreed to let the commons brexit committee see some of the information. conservationists are celebrating the arrival of a baby gibbon on the indonesian island ofjava. the animal was born in the wild, to parents who had once been held in captivity, victims of the illegal trade in exotic pets. conservationists say the birth is a first and represents a breakthrough for the species, which is threatened by a booming trade in animals online. 0ur correspondent victoria gill sent this report. the steep forest slopes of west java are now home to a very special family. these are endangered javan gibbons, released here after being rescued from the pet trade and theyjust had a new baby. that six—month—old baby is the first babyjavan gibbon to be born in the wild from rehabilitated and rereleased parents.
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both parents started their lives in cages in the pet trade and now they are living wild and they are a family. we hope long—term that they survive and then the baby will make a new family. and continue the generations. but these apes are still taken from the wild to be sold illegally as pets. sales are increasingly moving online — this video was posted on instagram by a pet shop injava. and we found this baby gibbon being advertised on facebook. both companies told the bbc that the sale of protected wildlife was prohibited on their sites and they removed these posts after we reported them. but the trade is not confined to one species. orangutans make up nearly 70% of the great apes that are seized by law enforcement. this two—year—old was found on a bus injakarta. you know where you put your luggage?
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that is where she was for 10 hours. when they found her she was traumatised to the bone. she did not eat, she did not drink, it was really difficult for us to get her going because she lost all her will to live. while rehabilitation programmes like this can get a few animals back to the wild each year they are not making a dent in the impact of the trade. 0ver about a 20—year period where orangutans specifically were either confiscated or donated, there were only seven prosecutions out of those 400 cases. so it's a huge issue. habitat destruction here as well as the pet trade continues to fuel a decline in these apes. and while this precious new family is now safe in the wild, conservationists will have to fight for the future of this species. victoria gill, bbc news, westjava. there's a new resident outside the bbc‘s headquarters. a statue of the novelist george orwell has been unveiled
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outside new broadcasting house, a few minutes from where 0rwell worked as a radio producer during world war ii. and, as our media editor, amol rajan, reports, the author of 1984 wasn't far off the mark with his many predictions. his report includes some flash photography. by the time he died of tuberculosis atjust 46, george orwell was a literary great, the conscience of england and a secular prophet. there is something eerie about the precision with which he forecast many of our contemporary concerns. i have been reading your newspeak articles in the times. yes. his concepts of thought crime and newspeak, chronicled here in 1984, the film of his novel starring john hurt, have evolved into worries about political correctness. he reported on the struggle for independence in catalonia, which has so violently reared its head in recent weeks. and though he never used the term, 0rwell satirised fake news before it entered common parlance. if you want to discover the source
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of the division in our country, look no further than the fake news and the crooked media. from 1941 to 1943, 0rwell worked in room 101 here at the bbc. as a patriot and master of prose, his appeal transcended ideological divisions and though he was an avowed socialist, the central idea in his work wasn't equality, but human freedom. he felt that the liberty to think, feel, say and hear what other people might not like was under assault from totalitarianism in various disguises. that dedication to liberty has been celebrated in a statue by the artist martinjennings. it was commissioned and paid for by the george orwell memorial trust, and was unveiled outside the bbc today. 1, 2, 3. applause it's taken years to raise the money and get planning permission. final approval was given by the current director general, much to the delight of his son. a sheer sense of satisfaction that finally everyone has come together with, what i would suggest, is the correct decision to put
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a statue outside the bbc. so universal and urgent are the themes he addressed, that 0rwell seems destined to inspire journalists for generations to come. amol rajan, bbc news. time to catch up with the weather now with philip. good evening. it has been one of those days, and you can see how damp it was in the birmingham area. it was not all doom and gloom, when the front got away from western parts it cheered up quite nicely but the rain had to go somewhere and it crept further eastwards. some spots in the far east are yet to see it but you will do eventually through the night and when that area has moved away then the cloud will begin to break as things dry up and then it will
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turn into quite a chilly night. you will find the extent of the fast becoming more widespread. not an issue in the south—east with that weather front and the islands are surrounded by seas which are still relatively warm. relatively. this is the start of one state with some crowd and some rain in east anglia and the south—east but further west, gloriously sunny, a bit chilly, yes, with a touch of frost further north but the north of england and much of northern ireland, watch out for the mist and fog, bright and sunny. no great rush to get rid of the remnant of that front so quite a cloudy day until late on for east anglia and the south—east but many of you will have a sumptuous day, far improved on today. and those weather fronts bringing the cloud and rain increasingly across scotland and northern ireland. that area of cloud
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and rain moves south, the rain becoming quite patchy am not the strongest fronts, and following on behind that, thursday, at its best, some sunshine and relatively mild compared to what we have seen of late, 12—14 degrees for many. and into friday, a lot of isobars so the wind is a factor. late in the day that will bring quite a bit of rain into the south and south—west of the british isles and when that moves away the weekend patent is established and the air will slow down the isobars which will make it a bright and breezy weekend, some sunshine and showers, and because of the wind from the north—west it will feel cold. hello, i'm ros atkins, this is 0utside source.
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new revelations in the paradise papers — this time it's prince charles‘s offshore investments and questions about a conflict of interest. there's a conflict of interest between his own investments of the duchy of cornwall and what he's trying to achieve publically. voters in virginia are choosing a new governor — in what's been described as the most important election in america since donald trump won a year ago. there are several uk ministers under pressure for a variety of reason, we will bring you the latest live from westminster. and don't forget you can in touch with the programme using the hashtag @bbcos.

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