tv The Briefing BBC News May 14, 2019 5:45am-6:01am BST
which threatens maritime security." the verge website focuses on tech giant apple and the news the us supreme court is letting an antitrust lawsuit against the company proceed. the court agreed in a 5—4 decision that apple app buyers could now sue the company for allegedly driving up prices. and finally time to say goodbye to a true legend of stage and screen, the times, like almost every other front page, has a picture of the singer and actress doris day who has died aged 97. with me is jane foley who's a senior fx strategist at rabobank. good morning, jane.
good morning, jane. good morning. did you grow up watching doris day movies? i did. we will talk about her later but let's start about this really interesting read on the front page of the guardian. it's all about this big in—depth study, a nobel prize winning professor, u.s.—based, he is going to look into our inequality in the uk and make comparisons with the united states. what do you make of this? first of all, inequality in the us is quite poon all, inequality in the us is quite poor. there the genie coefficient, which is about looking at inequality in emerging economies —— gini. it's really quite bad in the us, to say the uk, europe is of course a little bit more socialist than the us is rising towards the us' level is quite some statement, but i would say that inequality has been rising over a number of developed countries
and for instance, for decades now, the labour share of national income has been falling and that means while we get productivity gains, less of it is going to workers and more of it is going to the owners of the capital. this is the issue, it talks about whether this is going to look into whether democratic capitalism is actually working or not. yes. or whether it is working just very small minority—owned, this article points out the fact that if you look at earnings and how they have been increasing in the uk in the last ten years or so, after inflation in the financial sector. earnings has grown by about £120 a week on average, whereas for other workers, it's actually gone down by £17 a week. that's right. that's in real terms. that is a worry. i would go as farto real terms. that is a worry. i would go as far to say is if we wanted a reason why there is more populism in the developed world, this is certainly part of the story. in the us, we've had of course trump make
america great again, harkening back to an everywhere a blue collar worker could buy a home and support household. if we look at wealth inequality in europe, house prices have been rising, that's another factor. we have populism, nationalism rising and in australia and you in as well, a similar story here. and i would go as far to say that inequality has had a significant part to play in it. the idea of this study is a leading landmark review, it's described as, it's going to be done with the institute of fiscal studies. it here in the guardian that this is so the uk can be inoculated against some of the horror seen in the united states. very strong words indeed and i think us inequality is quite shocking and we are rising towards that that it isn'tjust shocking and we are rising towards that that it isn't just the shocking and we are rising towards that that it isn'tjust the uk, new zealand you could say has seen some shocking inequality statistics as well there. as well as other large
parts of the developed world. a very interesting debate on whether democratic capitalism is working. is this system broken? an interesting read on the front page of the guardian. and talking a video that is, you have resident xijinping here on the financial times. maybe they distribute wealth there differently, maybe it is working on a different way? you could say that but this of course is a story with so but this of course is a story with so many different facets because on the surface we are talking about soybeans, we are talking about liquid natural gas, different items that are listed in all these reports about the trade wars. of course there are other stories coming to there are other stories coming to the fore, variants of this to, as well as the us's suspicion is a growing military power. this is why the us has been so forceful in trying to put china back in its box
and trying to get china to obey — to more western rules as opposed to chinese rules. this is such a large story that, although we can talk about just the tariffs story that, although we can talk aboutjust the tariffs and stories like this, this is a story that on some level is going further. it's about ideology, isn't it? what we we re about ideology, isn't it? what we were just talking about. what works and what doesn't work and what is best for the whole of society. this article in the financial times talks about a massive sell—off in apple shares, the big sell—off and how a huge part of the us plc is exposed 110w huge part of the us plc is exposed now to these tariffs and the impact it will have on their bottom line. apple is a good example of that because it does have a lot of capabilities within china, trump is trying to shock china and say us companies will move to other parts of asia, to vietnam. that will create an awful lot of cost, a big
shock to some of these markets. but it isn't just about the us, shock to some of these markets. but it isn'tjust about the us, if shock to some of these markets. but it isn't just about the us, if we look at the ftse or world index, i think that's the biggest loss daily for several months. that being said, stock markets have been pretty close to all—time highs, they've done very well this year. despite all this going on are not being resolved by any means. and here, the sabotage of the four oil tankers that we did already discussed in the arab news. it points out the issue, of course this outlet is a saudi— backed newspaper. how concerned should we be? we should be concerned if it does turn out to be iran. no—one is saying officially that it is them right now, but the rhetoric is saying that they look like a likely candidate. that is something that global markets need to be concerned about. the us pulled out of the nuclear agreement and iran could
suffer very significantly on the economic front. it's a very interesting story and potentially quite a scary one. if oil prices we re quite a scary one. if oil prices were to creep up quite a bit above $80 a barrel, what implications without hope of the global economy was not it's very inflationary and we have the federal reserve looking like it may be cutting rates again, there is so much at play, isn't there? of all prices go up in the uk it's in additional cost for oil importers data if. however, on the other side you have the global economy slowing. so while there is an economic constraint on supply, there is also a constraint on demand two, which could offset the potential on oil prices. let's look at this story on apple. the verge says that apple users, a lot of people around the world, but in the united states this applies to, can
actually sue apple for forcing them to pay too much for apps. this story is about has apple been using illegal, unlawful monopoly powers. the core didn't go as far to say that it did, but i think as this proceeds there will be a decision on whether or not apple has been acting ina whether or not apple has been acting in a monopoly. apple said it originally can't have done and its defence was that the uses of the apple store were not apple's customers, it argued that it was my customers, it argued that it was my customers where the developers of the apple apps. 0f customers where the developers of the apple apps. of course, that's not a watertight case, it's allowing — the case to proceed and i think this is one we have to watch. got to keep an eye on. and if apple uses when, it means that apple will no longer be able to charge what it does for their app providers they we re does for their app providers they were the use of their apps or whatever. 0k, doris day from the
times. this is the hollywood actress who died yesterday aged 97. so many tributes. i loved herfilms, i loved calamity jane, she was tributes. i loved herfilms, i loved calamityjane, she was part of our world. she never won a oscar, which i think was quite surprising given how long her career was and how many people love those films. also surprising as she has said she wants no funeral, she wants no heads own and she wants no memorial service. very private woman stop yes. indeed. thank you jane for being with us here on the briefing and your comments about rabobank, keep them coming in. if you want to see that what the debate is like today, it's hashtag the briefing. i will see you later. have a lovely day, by by. —— goodbye, comments about whatsapp.
hello. well, very settled weather across the uk for the next few days. notjust the uk, but in fact but many parts of western europe. and the outlook — staying warm and sunny. some places will be warmer than others though, across the uk. so this is the picture then through mid week. the highest temperatures will actually be in parts of scotland, this is where we will have the sunny and completely windless conditions and that's what will help temperatures to rise into the mid 20s. that high pressure's stretching from southern scandinavia across the uk, into france and even about just about as far south as spain and portugal, onlyjust. this means that the settled weather will be widespread across many areas of europe, certainly here in the uk. starts off pretty nippy with clear skies, the temperatures still do tend to dip away this time of the year, maybe a touch of grass frost here and there outside in your rural areas but that's pretty much it.
so, starts off sunny from the get—go, beautiful, beautiful day. notice the winds are blowing off the north sea here in the south—east. so that means it will be a bit fresher in places like norwich and london with wind up the thames estuary. but say in scotland, it could exceed 20 degrees celsius as it did on monday. now the high pressure through tuesday and wednesday is just showing slight signs of maybe drifting a little further north back into scandinavia. that means the winds will start to change direction, but before they do, it's still going to warm up nicely, wednesday is going to probably be the warmest day of the week. very light winds and we suspect the highest temperature will be across scotland. but notice it's a little fresher here around the north sea coast, 15 degrees on the coast of lincolnshire, norfolk and suffolk. that's because the wind is blowing out of the east and that easterly wind is indicating a change towards the end of the week. see that cloud and bits and pieces of rain there across parts of central europe?
that will eventually be heading in our direction. so the thinking is you can see the east wind blowing here from denmark. the thinking is it will tend to cool off a little bit by the time we get to friday, particularly on these north sea coasts from aberdeenshire all the way down to norwich, only 13 in norwich, pushing the warmth a little bit further towards the west and the clouds will increase and there is a chance that we will get one or two showers. but it's not going to be a huge change, its essentially going to be mostly dry. however, come the weekend, just in time for saturday and sunday it looks as though it will cool off and there is a slightly greater chance of catching a few spots of rain. bye— bye.
good morning — welcome to breakfast, with dan walker and louise minchin. the headlines: calls for almost £3 billion in extra funding to tackle what's being called the "staggering" scale of serious and organised crime in the uk. all whatsapp users are urged to update their app after the company admits a major security flaw allowed hackers to implant surveillance software in some mobile phones. pa rt part of our wake up to the menopause week, a parliamentary enquiry is to