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tv   The Briefing  BBC News  October 12, 2018 5:45am-6:01am BST

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on the front of the guardian, there are plans to turn a uk motorway in kent into a lorry park to deal with the possible impact of a no—deal brexit. transport companies are warning of the potential for chaos after brexit without a deal, to preserve frictionless trade with the eu. and finally, here is a picture of the happy couple on the front of the telegraph. the queen's grand—daughter princess eugenie is due to marry jack brooksbank later today at st george's chapel in windsor. so let's begin. with me is alpesh patel, who is ceo at praefinium partners. good news story, we don't get many of those offered. well, a tale of two halves, financial recovery in asian trade of the stock markets in the last few moments, the last hour or $0. the last few moments, the last hour or so. there is really the sense,
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isn't there, that the shine has come off the tech stocks, especially in the us, and it has led to this tumbling which has happened across the world. the amazon stocks i bought in december are up 60% a couple of months ago, and now only 44% . couple of months ago, and now only 1m%. my couple of months ago, and now only 44%. my point being you are going to ta ke 44%. my point being you are going to take profits. you are sitting on ridiculously bumper, unearned income like that, you are going to take some losses. the dow is still up in the year to date. we use trading algorithms to place our trade, which means we don't even look at the fundamentals, we just follow the trends. so when it is falling, you can make money just trends. so when it is falling, you can make moneyjust as easily in falling markets, because you are selling at a high price and buying back cheaper later, which means these computers can make things worse. they can make the falls sharper, but there are a lot of people making money out of these falls. let's not assume that because of falling markets people are just
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losing. lots of pension funds holding for the long—term are losing money, but the market is up and they have had uncharacteristic and unfair rises, unfair in the sense that you don't get market rallying as much as they have over the past 18 months, and some of that is thanks to mr trump and his tax cuts. speaking of mrtrump, he has trump and his tax cuts. speaking of mr trump, he has spent most of the last 2a hours criticising the us central bank, the federal reserve. aren't you glad ours as independent? they are supposedly independent in america as well, but our politicians keep their mouth shut. to some extent he is right, from policy perspective... how do you mean? rising interest rates, and he and signalling so far ahead, they were doing it to give the markets advance notice. however, what it has done is it has spooked the markets far more than anything he has done with trade. the biggest trading partners for america are canada and mexico. he has filled up a deal to make it a
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little bit better, the new nafta, thanit little bit better, the new nafta, than it was previously. the rising interest rates, which the fed has signalled ahead, it has spooked the market. that has led to people taking money off equities. so he is right about that, because what he is trying to do is have those asset prices rise, maybe two over inflationary levels, but he was trying to create some kind of wealth effect, and they have pricked that bubble somewhat. trump is hardly ever out of the headlines, and this story is in the papers. he is not content with slamming the chairman of the federal reserve, but is threatening to punish china further as well. do you think the security chiefs in the united states are being a bit paranoid here? this is the second story where trump is right, and it is not often you hear that on any news outlet twice in a row, other than fox. that on any news outlet twice in a row, otherthan fox. it that on any news outlet twice in a row, other than fox. it is notjust trump who has said this. if it was just trump, people would have
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sniggered, but this is christopher wray, the fbi director, and he has said china is the most long—term counterintelligence threat that the us faces, and it is the intelligence chiefs briefing congress. this is less to do with trump, he is just highlighting the fact, and to some extent it is leading people to think we will ignore it, and he is also talking about how they are trying to influence the mid—term elections, andi influence the mid—term elections, and i don't doubt it. they have been stealing intellectual property... well, we don't know, first off, china have said they haven't, and do you really think china is interested in the us mid—term elections? because you don't think the us president has anything to do with trade policy, and is hurting them? of course they want him out of office, and the easiest way to do it is target constituencies. thanks to
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electronic warfare you can do that. there is ample evidence the russians we re there is ample evidence the russians were doing it, the chinese are very good at tech and it makes absolute sense for them to do it, and why would you not when you have got a president who is so... is more anti— china in terms of economic policy than they have probably ever had. so it is the obvious thing for them to do, and they don't have much better things to do than steel western technology, or more important things than this. which they would dispute. let's talk about what is going on in the new york times, and an interesting column coming out of washington. it has been over a week since this journalist and government critic walked into the saudi consulate looking for a marriage certificate in istanbul and no one has heard from him since. what will it mean diplomatically if saudi arabia did actually murdered this journalist? and let's work under the
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presumption, because let's not be naive. of innocence? no, the opposite. it is saudi arabia for goodness's sake. we know a little bit about the country, they have form. idid bit about the country, they have form. i did appreciate that donald trump was honest, he said yes, this was bad, to use his deep analysis on this, but there is a $100 billion deal which he will still continue with, and that would hurt america. i think he is probably the most honest president i have heard of something like this. people say why are we still trading with these people? and they are destabilising the middle east, because they have this blockade on qatar. i think they have totally missed call this. from a diplomatic perspective they did not think this would create the stink it has. they thought he is of saudi origin therefore the west won't really care. britain will not call in the saudi ambassador, the media will probably let it go because there are journalists being
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will probably let it go because there arejournalists being killed in europe, actually, over eu corruption. mr qatar, sorryi in europe, actually, over eu corruption. mr qatar, sorry i keep getting it wrong all morning, a difficult name —— mr khashoggi. this presumption of innocence or presumption of innocence or presumption of innocence or presumption of guilt, i wonder whether the saudis did not provide all the answers about this people will assume the worst of them?” think people generally do assume the worst of them. this is a very extreme regime. and you don't have to bea extreme regime. and you don't have to be a woman to believe that. at the crown prince, there are lots of people, especially younger people, and also younger women, who would say actually he is a good thing. you've got women driving in saudi arabia now, liberalisation, and...” know you have to say that, but you andi know you have to say that, but you and i both know that women driving after so many years... what about diversifying away from oil? well, they only give them a0 lashes now, before this it was only a1 lashes
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for adultery. i am not sure it is the same thing. it is important to say the crown prince has huge backers, not least the uk government as well. like i said, at least donald trump is honest, he is saying we are not going to break all relations, we are going to pressure them on what they have done, we are going to highlight that it is not the kind of values we want, but we will take their money to create jobs over here. and he has said it openly and honestly. iam not over here. and he has said it openly and honestly. i am not about to lose all those jobs and honestly. i am not about to lose all thosejobs in america and honestly. i am not about to lose all those jobs in america and and honestly. i am not about to lose all thosejobs in america and cut off all relations on this. we will still try and get the answers we wa nt still try and get the answers we want in this. we will try and have oui’ want in this. we will try and have our cake want in this. we will try and have ourcake and want in this. we will try and have our cake and eat it, try an enforcer of values, try and find out the a nswe rs of values, try and find out the answers about this journalist, and have ourjobs in the west. we do wa nt have ourjobs in the west. we do want our cake have ourjobs in the west. we do want ourcake and have ourjobs in the west. we do want our cake and to eat it, and there is nothing wrong with that. rather than spending money on building more places to hang and flog men and women in the country. and kent is the worst nightmare, as
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far as people are concerned. the motorway is closing to prepare for lorry parking in a no deal brexit. this is on the front page of the guardian. rather than what the journalist says, which is that it will become a car park, and there will become a car park, and there will become a car park, and there will be panicked because of wrecks thatis, will be panicked because of wrecks that is, i am sure the guardian doesn't have an agenda, the department of transport has said actually it is just resilience planning. and of course you have to have resilience planning. good, sensible government policy. there we go. thank you very much. we have plenty more coming up later on bbc news, so we will see you very soon. hello there. storm callum is approaching, and it is set to bring us some pretty wet and windy weather over the next few days. on thursday, it was a breezy day, with a few showers around. this was the picture
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as we ended the day, taken by one of our weather watchers in reading. now our attention is turning to the west, and this is storm callum, this developing area of low pressure. as it moves in through the course of friday and lingering into saturday, it will bring particularly windy and wet weather on the cards too. the rainfall totals could be mounting up, particularly in parts of south wales, where we've got an amber warning for that heavy rain, around a0 to perhaps 60mm of rain. could be even more over high ground, up to 100mm over the two days. so this is how friday is looking then. let's focus in on the regional detail. on friday morning, look at those wind speeds, 50 or 60mph, maybe a bit more than that over some of these exposed irish sea coasts, and heavy rain in the south—west of england, wales, through the midlands too. northern ireland will have seen the worst of the wet weather by 8am friday morning, but still very windy here, and wet and pretty windy conditions in the bulk of scotland and northern england too, with those strong gusty winds. so particularly windy in the north and west too, but wherever you are, you'll notice the strength of those winds. down towards the south—east of england and east anglia,
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you're more likely to stay dry for quite a good part of the day, and it's still pretty warm. in fact, temperatures once again up to around 22 or so towards the south—east. cooler further north and west, but actually mild wherever you are. but we have got strong winds and heavy rain to contend with too, so this area of rain becomes quite slow—moving through friday evening and overnight into saturday morning, especially heavy in wales. and remember, we've got that amber warning in force for heavy rain in south wales, could be some flooding, perhaps some disruption to transport as well. as we move through the weekend then, the trailing weather front from storm callum stays put through the day on saturday. it's just slowly edging a bit further eastwards. but again, it will be parts of scotland, northern ireland, northern england, wales and the south—west of england that will see the bulk of that heavy rain. strong winds again, especially down towards the midlands and the south—east of england. with that mild air in charge, though, in the sunshine, we could see temperatures up to 2a degrees, well above average for this time of year. then, as we move into the second half of the weekend, we'll see the rain edging its way further eastwards. so perhaps a soggy start for london and the south—east. some rain and even snow over the mountains of scotland.
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once the rain and hill snow clears to the east, an improved day in much of the country but temperatures will be almost 10 degrees cooler on sunday than they are on saturday. into next week, then, still pretty unsettled and breezy, with some showery rain at times. bye— bye. good morning. welcome to breakfast with charlie stayt and naga munchetty. 0ur headlines today: "unimaginable destruction" — florida's governor warns that hurricane michael has left entire neighbourhoods uninhabitable. rescuers are still searching for survivors. a pay review for judges. they could be in line for a £60,000 rise. the second royal wedding of the year will take place in windsor today, as princess eugenie and herfiancee jack brooksbank tie the knot. and it will take place here at winds
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are and it will take place here at winds a re castle and it will take place here at winds are castle at 11 o'clock this morning, in saint georges chapel just be hony —— winds are castle. storm calen is
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