We start with an Epic Battle Raging On Wall Street that has seen small time Amateur Investors take on the titans of the hedge fund industry. Its all centred around this company the struggling us computer Game Retailer gamestop. It shares have soared at much as 1700 after a group of private investors used online forums to drive up their price. And that has raised serious questions about how Financial Markets operate in the era of social media, as paul hawkins reports. This is a story of david versus goliath, of the amateur online investor beating the Big Traditional Wall Street traders. At the centre of it, gamestop, a struggling American Retailer Selling dvds and video games. A number of the Wall Street Traders picked up on its problems and bet money that its share price would fall, known in the business as shorting a stock. Only for this particular stock, Amateur Investors swapping tips on the social media site reddit saw it as an opportunity. They bought shares, which actually drove up the price by 700 . So the Wall Street Traders, which act for hedge funds, lost money potentially billions of dollars while the Amateur Investors made money. But on thursday, the main platforms the small investors used to buy up the stocks, like robinhood, stopped them from buying more shares. The reddit investors, unsurprisingly, werent happy. They want the Hedge Fund Guys to win, they dont want the common man brokers, they dont want us to win. They said that i could only sell my amc stock, they said only sell my nokia stock, but i couldnt buy more this morning. Thats crazy how is that a free market in any way . Thats not a free market, that sounds like communism these are dirty, dirty people they deserve jail time money they will be able to repay the money they can pay millions of Dollars Worth of fines this isnt about money, this is aboutjail time, prison they should go to jail accusations like that will hurt platforms like robinhood, who have helped to democratise the stock market. Its co founder said the firm had taken its decision based on regulatory requirements and limited buys of the restricted stocks would be allowed from friday. You have a generation that feels it is their time, you have new weapons of influence, new trading platforms, and a lot of people at home with stimulus in their pocket and phones and access to trading. It all kind of spells a cocktail of volatility. Even american politicians are unusually united over their response, with the incoming chair of the Banking Committee promising to look into how the stock market works. Bell rings. Everyone loves the story of a plucky underdog but a black eye for wall street may have repercussions for the rest of us. To cover their losses, the big investors may need to sell their shares in other things like pension funds, and that means their share prices falls. Thats not good for the people who rely on them. Paul hawkins, bbc news. Lets talk to someone who has more than four decades experience in this investing game, Justin Urquhart stewart, co founder of seven investment management. We have been co ordinated action, flash mobs if you like, on social media before, but not to attack Financial Institutions but i have to say this bubble feels like a new version of an old phenomenon, what does it remind you of . Exactly, you mention the bubble, and the southsea bubble, and the southsea bubble, that didnt end well, so it is a strange little democratisation and as a result of technology more people have more power to do things. Hardly surprising and the fact that the hedge funds keep getting upset about it, the technical term would be. Adams this is been expected for some time, and you do get flash mob like that but theyre not called flash mob, you get groups of investors cheekily pushing shares in a direction and you will get them pulled and a suspension of trading and regulators would step in and do that. That is what they had to do in this circumstance. Dithums. Is this a crisis of capitalism . No they would like to try and make it one, i am sure but what it is doing is showing how the technology can impact on trading. What they need to do is make sure the regulatory structures are in place to make sure that trading is maintained in an orderly way. For example, when you see markets plummeting down you have to have breaks in the markets are people stop, take their breath and the automatic algorithms in trading do not plummet down into the depths and that has to happen with things like this, when markets get disorderly, you stop the market in the moment. It is an uneasy balance, though. In a Free Market Economy to have these checks and there are clearly some angry investors caught up on this in one of involved in the report there, and do you think the brokerages were right to stop trading . The brokerages were right to step trading . The brokerages were right to stop trading . There will always be eole stop trading . There will always be peeple angry stop trading . There will always be peeple angry at stop trading . There will always be people angry at it stop trading . There will always be people angry at it and stop trading . There will always be people angry at it and i be people angry at it and i suspect most people who are rather late on it, where they may be relieved, because you do not get in late, you get in early and people get caught up and end up losing money. Refer back to where we started, the southsea bubble, so be very careful. They do like to pull it when the markets get disorderly and went the Market Prices move too much. But how do you pull it . Well, the regulator need to look at that but on the other hand what it has done has made the bullying hedge funds, which can disrupt the markets but also help them as well, sometimes they will also try to add their own store to help their own prices, well, hard luck, the hedge funds got a black eye and sometimes you have to get one do a black eye and sometimes you have to get one have to get one do you think there is a have to get one do you think there is a shift have to get one do you think there is a shift of have to get one do you think there is a shift of power there is a shift of power toward the Retail Investor . Only to a small investment because they have the in power and money, and the power relies with the institutions but every now and then the Retail Investor can give someone a little bit of a biff on the nose and so be it. The surge in trading by private investors isntjust restricted to the us. Across asia, from south korea to thailand to hong kong Retail Investors are borrowing heavily to buy shares. Mariko oi is following this for us in singapore. Joining us now from singapore is mariko oi. It isa it is a risky strategy . Yes, some are it is a risky strategy . Yes, some are inspired it is a risky strategy . Yes, some are inspired by it is a risky strategy . Yes, some are inspired by whati it is a risky strategy . Yes, some are inspired by what has happened with gamestop and taking on shorted stocks as well in asia and around australia searching, i have to admit, i have never heard some of those companies but they are surging quite a lot, but not as much as gamestop, of course, as Amateur Investors try to emulate the squeeze, and small time traders have long played a relatively big role in hr but they are really becoming a younger and much more leveraged and influential, and as you say, many are Borrowing Money to buy the shares so that is what is worrying some experts, for example, there is a video sharing app injapan which is seen as a bit of a rival, and hong kong Retail Investors have already borrowed more than 50 billion to buy shares and that is raising concern. I thought it was interesting that in china traders has been quoted as saying if they saw similar swings in the market there, it would trigger action by chinese regulators, so we will see what happens in the us but definitely those huge moves have been closely watched by investors in asia. Have been closely watched by investors in asia. Have a good weekend. Investors in asia. Have a good weekend, thank investors in asia. Have a good weekend, thank you. Lets talk brexit now because its been one month since the uk began its new trading relationship with the european union. Along with tariff free access for uk goods, the Prime Minister promised no barriers for sending those products into the eu. However many Food Companies have said that they have faced multiple checks, form filling, and severe delays in getting their products across the border. Our economics editor, faisal islam, has been talking to one of them. A wonderful copperfish a wonderful copper fish that havejust come in. This morning. We didnt have to do that before. That before. You saw that the government that before. You saw that the government put that before. You saw that the government put out that before. You saw that the government put out 26 that before. You saw that the | government put out 26 steps. Yes, a new certificate, and this is the big one. So we have to cross off the boxes that are not ticked, they sign and stamp all the boxes to say that they checked it. And they add page numbers to every single page. One her truck . To numbers to every single page. One her truck . One her truck . To petracca. A summary one her truck . To petracca. A summary of one her truck . To petracca. A summary of declaration, one her truck . To petracca. A summary of declaration, that| summary of declaration, that this is the statement of value, two her truck. It is worth drawing attention to here, which outlines the vessels, the catch and this is all new, this is being manually imported, not a bulk upload we can do. Every day, we are importing onto a government website. find day, we are importing onto a government website. And then individual steps government website. And then individual steps at government website. And then individual steps at customs . Government website. And then l individual steps at customs . We were and individual steps at customs . Were and felt extremely prepared for brexit and we felt ready but all of this, there were elements that came in that were elements that came in that were a surprise to us. Were a surprise to us. Make sure we were a surprise to us. Make sure we have were a surprise to us. Make sure we have a were a surprise to us. Make sure we have a smooth were a surprise to us. Make sure we have a smooth exit| were a surprise to us. Make sure we have a smooth exit from the eu sure we have a smooth exit from the eu. There will be no nontariff barriers to trade. These nontariff barriers to trade. These are nontariff barriers . Absolutely. These are nontariff barriers . Absolutely these are nontariff barriers . Absolutel. � , absolutely. And the end result is that the absolutely. And the end result is that the price absolutely. And the end result is that the price being absolutely. And the end result is that the price being paid is that the price being paid for ourfish is that the price being paid for our fish that landed at the port very close to us, the price going down . Absolutely. And how long . Price going down . Absolutely. And how long . Up price going down . Absolutely. And how long . Up to price going down . Absolutely. And how long . Up to 6 price going down . Absolutely. And how long . Up to 6 eight| and how long . Up to 6 eight hours, and how long . Up to 6 eight hours. And and how long . Up to 6 eight hours, and the and how long . Up to 6 eight hours, and the other and how long . Up to 6 eight hours, and the other day and how long . Up to 6 eight hours, and the other day 12. L hours, and the other day 12. And before . And before . Went straight through and before . Went straight through i and before . Went straight through. I was and before . Went straight through. I was felt and before . Went straight through. I was felt we and before . Went straight| through. I was felt we were bound to have some sort of paperwork check but this is excessive. We are hearing from other fleet owners that it wont be before long before they consider other options, like moving to the European Market because if they believe the price is not Strong Enough in the british market, then it is up to them to move to the eu. � , eu. Are these Teething Problems . Eu. Are these Teething Problems . Definitely l eu. Are these teething i problems . Definitely not. Eu. Are these Teething Problems . Definitely not. These other big issues problems . Definitely not. These other big issues need problems . Definitely not. These other big issues need faster other big issues need faster action. ,. ,. , action. Now that we have the canned access action. Now that we have the canned access path, action. Now that we have the canned access path, it canned access path, it completes the paperwork for the driver, completes the paperwork for the driver, meaning they can go from driver, meaning they can go from kent to dunkirk but it doesnt from kent to dunkirk but it doesnt end there because we are being doesnt end there because we are being held from 6 eight hours are being held from 6 eight hours in are being held from 6 eight hours in dunkirk by border control, hours in dunkirk by border control, so to give you an update, control, so to give you an update, we had the same lorry held update, we had the same lorry held in update, we had the same lorry held in dunkirk for a total of 15 hours held in dunkirk for a total of 15 hours whereas pre brexit that 15 hours whereas pre brexit that would have gone through in minutes that would have gone through in minutes. We cannot go on like this minutes. We cannot go on like this we minutes. We cannot go on like this. We need urgent action. We need this. We need urgent action. We need it this. We need urgent action. We need it at this. We need urgent action. We need it at a this. We need urgent action. We need it at a government level. Simply need it at a government level. Simply to need it at a government level. Simply to save the few businesses like ourselves. Very powerful so how are businesses faring on the other side of the channel in france . Here are the experiences of two of them. Lets stay with that issue the Financial Sector is worth 130 billion a year to the uk economy. It is a crown jewel in terms of Revenue Generation and trade surplus. But its post brexit status is yet to be settled. Andrew hilton is director of the centre for the study of financial innovation. Commission pretty determined to onshore as much financial activity as is possible. Do you think think it will get its wish . It will get some, theres no doubt. Goldman sacks has moved some of its operations to paris, Bank Of America has moved some of its operations to dublin, but for the moment, very little has actually moved. That may not be very much to do with brexit, it may be a lot more to do with covid i9. I was in the city the day before yesterday and it was rather like that sort of north texas town in the last picture show, it was absolutely empty, desolate, and you kind of expected tumbleweed to come down the street. We are having to cope with covi first and then we will cope with brexit. I concur on that point. I drive through the City Of London on my way into the studio and as you say it is a ghost town at the moment. Lets turn to the issue of how easy it is to raise finance, both in london and across the rest of europe. Is it easy for businesses to raise the capital that we need in the eu . Raise the capital that we need in the eu . No, it isnt. Week, when we in the eu . No, it isnt. Week, when we were in the eu . No, it isnt. Week, when we were members in the eu . No, it isnt. Week, when we were members of. In the eu . No, it isnt. Week, | when we were members of the european union, pushed something called Capital Markets union which was an attempt to develop one single Capital Market for europe, and the reason for that is they dont have one. At the moment, there are 27 separate Capital Markets, very hard to raise any kind of significant amounts of money which is why it is being donein money which is why it is being done in london. The problem for the europeans at the moment as they are trying to take business back but they are not trying to take it to a single financial centre. Its being split. Paris wants some of the business, frankfurt wants of the business, dublin surprisingly wants a lot of the Fund Management business. Amsterdam is picking up of business. This is fragmenting financial services. Interesting, in terms of bank based finance, that suits the mid caps, the large caps, those with well established Balance Sheets but i wonder where this leaves start ups, Growth Companies and the like looking to scale new technologies. The innovators. Does that produce an opportunity for the likes of london . ~ ,. , ~ an opportunity for the likes of london . ~ ,. , an opportunity for the likes of london . ~ ,. ,. , london . Absolutely. We have a shortterm london . Absolutely. We have a shortterm problem london . Absolutely. We have a shortterm problem stopping i london . Absolutely. We have a i shortterm problem stopping the short term problem stopping the most immediate problem is how to get over the covid crisis because obviously we are all Working From Home and it is very difficult to see light at the end of the tunnel. Assuming there is light at the end of there is light at the end of the tunnel, we have a kind of medium term problem which is our european friends seem, rightly or wrongly, determined