tv The Briefing BBC News February 12, 2018 5:45am-6:01am GMT
the ft carries a warning from the world's biggest hedge fund, bridgewater, who say markets are entering a new era of volatility as the world adjusts to higher interest rates after a decade of ultra loose monetary policy. meanwhile, the guardian financial pages look at how the negative market reaction to the world's economic recovery shows how countries have become too reliant on the largesse of central banks. and finally, also in the guardian, it's official — facebook is for older people. according to a new report, teens and young adults are leaving the social networking site as popularity surges among the over—555. so let's begin. with me is oliver cornock who's editor—in—chief at the oxford business group. welcome back. we are starting with the telegraph and the story that is engulfing oxfam at the moment it also threatens to engulf the department of international trade. it is one of these terrible sex scandal stories we have heard the like of before sadly, a tip of the
ice. it does feel as though this is snowballing, doesn't it? overthe weekend, we heard of the woman who lost herjob as head of the department of international trade in london in november saying she flagged problems with this before and they were brushed aside by officials in the department. she had done a great deal to try and put international aid from the uk on a more form —— firm footing. any of us that travel around the world, some poor places that receive aid, it just goes into the pockets of dictators. she was doing a lot to help the —— investigate that. it really is pretty seedy. sex for aid are some of the more than luring headlines we are seeing. it feels like the industrialisation of aid giving, it is not immune, just like hollywood isn't immune from some of the seedy side of life will stop the questions are, what do they have in
place first of what safeguarding the they have in place? very —— many charities which are being implicated to protect the people should be protecting as part of thejob. and you look at this, and in haiti, the victims of this earthquake that oxfa m the victims of this earthquake that oxfam was there to help with, embroiled with rostered jewish in. i don't know that details but it is pretty seedy. the issue for oxfam isn'tjust its reputation. it is whether or not it is financially of viable. in these times, it is not surprising that the head of the office is now saying unless we have some watertight reason then some mechanism put in place to avoid is going forward, this is not sustainable. i think that will welcome berth will stop absolutely. plenty more on that to come. iran's meddling is a threat to all in the region. it is a headline we have seen before. is there a shift at the
moment? this is in the arab news, it is important to point out this is a saudi paper. saudi arabia is at loggerheads with the run. it is a changing game in syria. we are seeing the end of the territorial element of isis. this isjust leading to another part of this awful conflict. it is like a multiheaded hydra to me. iran is in there in the simple fact is just in there in the simple fact is just in the simple fact that assad is going to be around this negotiating table, so to be around this negotiating table, so is iran. unfortunately, iran is meddling. both in yemen as well. saudi arabia are very conscious of that. it points to the fact that iran is on to be the fact —— a part of the solution as well. we are not there yet. it is that probably the beginning of the end. you mentioned before it is israel's intervention in syria. israel historically has
been one of israel's foes. they a lwa ys been one of israel's foes. they always traditionally managed to keep always traditionally managed to keep a bit of a stalemate, no conflict. this is a marked escalation. all of us are this is a marked escalation. all of us are watching very carefully to see if there is any further escalation in israeli intervention. to the north there is live and on, increasing destabilised by hezbollah, a proxy of iran. iran is everywhere is my point. it is very complicated. with sammy different countries having a say and influence, it's going to be very difficult to see how this is going to be resolved given it has been going on for so long. let's look at the financial times and the headline a week on since the huge volatility of the market. a new era dawning. this is coming from the world ‘s biggest hedge funds. what prince of bridgewater, the headship as what happens in the market. on one level hitting higher
levels of volatility is quite welcome for a hedge fund. i don't have huge amounts of sympathy. we talked about this earlier in the programme. higher interest rate, tighter monetary policy, high levels of inflation. all of these things are of inflation. all of these things a re factors of inflation. all of these things are factors that investors are playing with and to mark a new era in the financial side. what this means for the average person on the street is also really important. inflation, what does that mean? it means your shopping basket gets more expensive. it means your mortgage, it becomes more expensive. if you area it becomes more expensive. if you are a safer, higher interest rates are a safer, higher interest rates are good things. volatility is not good for anybody apart from hedge funds is. there is more analysis in the guardian. renaissance is a —— suddenly fragile. what actually have happened in the past week. suddenly fragile. what actually have happened in the past weekm reflects on this last ten years of
central banks really coming to the fore, printing money, propping up against this global volatility after the financial crisis. in the guardian, a slightly left—leaning article. he points out austerity has affected the health service at the same time as increasing money printed by the government, some irony there. it points to this equitable ‘s rate of growth. wages, real term rate —— waiters have the road. the jobless figures are positive, yet the markets have tumbled, 5% losses. that was after a pickup on friday. this ain't good news. larry elliott is saying the central banks have paid too much of a roll over the last ten years and now it is time for markets to start playing —— paying their role and go back to what the status quo was
before, and he says that is not good news because we have not learnt the lessons. also what happened last week, everyone made the assumption that the market slipped because of thejobs report that the market slipped because of the jobs report that came out but actually he says some of these assumptions that wall street made we re assumptions that wall street made were questionable. yes, because real term, the cost of wages have not kept up with inflation in the us. in fa ct, kept up with inflation in the us. in fact, it is very low in the us. whilejobs have fact, it is very low in the us. while jobs have increased, fact, it is very low in the us. whilejobs have increased, take—home pay has decreased. there is a lot of lies and statistics. why have they brought in its picture of salvador dali. the economic status quo of the last ten years has really kept the tiptop assets such as fine art and top level property increasing while the average person on the street is not ina the average person on the street is not in a fitting from that. let's
look at the last story. you have a facebook account? i do, but i feel very old reading is because a p pa re ntly very old reading is because apparently snapped chat and instagram area apparently snapped chat and instagram are a thing of the youth. 55 is the largest demographic of facebook. no longer silver surfers. it makes the point that because facebook is now 14 years old, that as the population gets older, they wa nt to as the population gets older, they want to be more in touch with younger people. but actually, younger people. but actually, younger people. but actually, younger people are moving away from it now. grandparents want to keep up on facebook to watch their grandchildren. i think that if a valid point. stepping back a little bit. social media has transformed the world and the emerging markets iwork income it has transformed it and it is here to stay. there a certain irony, a lot of older people are now on facebook. it is an undeniable fact of modern life. facebook is changing its algorithms so facebook is changing its algorithms so it promotes more and sharing of
the content. they are still making such a large amount of money. they have bought instagram. mark silverberg is not having any sleepless nights. $4.3 billion profit last year. we have seen bubbles before. we talk about tech bubbles before. we talk about tech bubble before, social media bubble? who knows. thank you very much. great to see you this morning. thank you for taking us through the papers. don't forget to get in touch regarding oxfam. it is going to change the way you donate on who you donate to? get in touch. it is goodbye for now. thank you very much for watching. hello there. sunday was a better, brighter, sunnier day for many of us than what we saw on saturday, but there were some pretty hefty hail and snow showers around.
now, for the upcoming week, it's going to be fairly unsettled. i think there's going to be a lot of rain, maybe some disruptive snow at times. it'll be quite windy too. and then signs of something a bit milder moving into the south to end the week. this is the satellite picture from the last 12 hours. you can see the showers, the speckles indicating those snow and hail showers pushing into the north and west of the country. we start monday morning off on a really cold note. widespread frost and a risk of some ice, particularly where we have the showers. now, for monday itself, we're in between weather systems. a ridge of high pressure building in, so actually, it should be fine and dry for many of us before this system moves in for monday night, bringing us rain, sleet and snow. so it's a cold start to monday. there will be that frost around, some ice to watch out for, but plenty of sunshine around. a few wintry showers across the north and the west of the country, but apart from that, most places should be dry. but it's going to be another chilly one and temperatures generally between five to seven or eight degrees. the winds will pick up across northern ireland by the end of the day ahead of
this weather system. rain, sleet and snow will push in across northern ireland, initially, giving some accumulations of snow here, and then move on into much of western britain. now, we're looking at some pretty disruptive snow, in fact, the high ground of wales, certainly for northern england and for central southern scotland, so a pretty treacherous morning commute on tuesday across central southern scotland, northern england. watch out for the snow and for the ice. this weather front will slowly move its way eastwards through the course of the day, becoming confined to eastern areas. a mix of rain and sleet i think further south. further west, though, it brightens up into the afternoon. we should see sunshine and wintry showers returning. most of these wintry showers falling across western scotland. then we see another weather system moving in for wednesday, we do it all again basically. this will bring another spell of gale force winds as it moves up from the south—west and rain, sleet and snow. but it looks like the snow will be confined to the hills of central and northern parts of the uk, whereas further south, it should be largely of rain, that's because we're starting to see slightly less cold air moving in,
so i think wednesday afternoon, although it's going to be drab, cloudy and wet for most of us, see a little bit of milder air pushing into the south and the south—west but still cold in the north. then into thursday, that weather front moves away and we're into a westerly wind regime. that will feed in plenty of showers to northern and western parts of the country. again, wintry in the north. further south, there'll be mainly rain as it is going to be a little less cold in the south, temperatures in double figures here. hello. good morning. this is breakfast, with dan walker and louise minchin. oxfam comes under increasing pressure, as the charity's bosses try to convince government ministers they should keep millions of pounds of public funding. the aid agency will have to say what it knew about allegations of sexual misconduct by some of its staff in haiti and what it's doing to stop it happening again. good morning.