We start with the reddit fueled amateur trading frenzy. It has dominated this week. It has seen wild swings in shares hyped on Social Media Platforms the likes of gamestop and caused multibillion Dollar Losses for big wall Street Investors betting against them. Later today, us Treasury Secretary janet yellen will meet with the countrys financial regulators to discuss the issue. According to bloomberg news, one of the watchdogs, the securities and exchange commission, is now scouring social media posts for evidence of potential fraud. Certainly it appears that the regulators are certainly taking a look, as they have said publicly, you know, the recent market action. Its hard to say whether additional regulations would be written wired. Certainly, again, from my vantage point, really its about making sure that the Playing Field is level and also making sure that really that Retail Investors are protected. Joining me now is yael selfin, chief economist at the consultants kpmg. Nice to see you again. Do you think regulators will get involved, will start to take charge in this situation or not . I charge in this situation or not . ~ , charge in this situation or not . ~ ,. , charge in this situation or not . ~ ,. ,. , charge in this situation or not . ~ ,. ,. , not . I think is going to be a little bit difficult not . I think is going to be a little bit difficult for not . I think is going to be a little bit difficult for them i little bit difficult for them to take actions, but ultimately the extreme volatility in assets is not very help all for investors and for the economy overall. � ,. , investors and for the economy overall. � � , investors and for the economy overall. � a. , overall. But you say its not helpful. Overall. But you say its not helpful. This overall. But you say its not helpful, this is overall. But you say its not helpful, this is free overall. But you say its not. Helpful, this is free markets, they go up, they go down, volatility is part of the deal, isnt it, is this a special case, that is the question. Us Treasury Secretary janet yellen believes it should be looked into. ~. Believes it should be looked into. ,. ,. ,. ,. , into. What you would want to do is have prices into. What you would want to do is have prices that into. What you would want to do is have prices that would is have prices that would reflect reality and we already have an issue with low Interest Rates that make potential bubbles emerge. If you add to that extreme volatility that means that the purpose of markets is not really served by this and therefore regulators can look at it and then there is also obviously the potential for criminality issues in terms of fraud, et cetera, that is another issue they are looking at two. N another issue they are looking at two. ,. ,. , another issue they are looking attwo. ,. , at two. I was going to say because, at two. I was going to say because, as at two. I was going to say because, as you at two. I was going to say because, as you say, at two. I was going to say because, as you say, bubbles to emerge, they do come, they do 90, emerge, they do come, they do go, and they can be pretty harmful likely. Com bubble in the early 1990s. The worry here is is this Social Media Action Thatis is is this social media action that is new to a degree in terms of how Financial Markets operate and how this is happening. Operate and how this is happening operate and how this is happening. We have new technologies happening. We have new technologies and happening. We have new technologies and new. Happening. We have new. Technologies and new ways happening. We have new technologies and new ways of communicating and social media is one of them. It is merging with markets and with investing and therefore the good thing is you have a Widening Pool of investors and you have wider access to Asset Markets and you have the downside that evidentially needs to be regulated to ensure it is fit for purpose. Regulated to ensure it is fit for purpose regulated to ensure it is fit for purpose. For many people this is a very for purpose. For many people this is a very difficult for purpose. For many people this is a very difficult time, i this is a very difficult time, withjobs at risk, this is a very difficult time, with jobs at risk, people on furlough, but people are at home and many outwardly meth arms, they might see this as a way of making a quick buck. Your thoughts on that . We are seeinu , your thoughts on that . We are seeing. For your thoughts on that . We are seeing, for example, your thoughts on that . We are seeing, for example, the your thoughts on that . We are l seeing, for example, the saving rate going up quite significantly in times when people cant spend on other things so they have a little extra money but you want to make sure they spend it wisely and they dontjust lose their money on investments that are very, very volatile stage and very, very volatile stage and very far from their very, very volatile stage and very Farfrom Theirfair very, very volatile stage and very far from their fair value. All right, yael, good to talk to you. Yael selfin from kpmg. Lets turn to ebay now, because it seems lockdown has increased our appetite for buying and selling stuff. Investors have been bidding up shares in the online marketplace after it reported a surge in business over the festive season. Ebay says the volume of goods traded in the three months to december was up 21 on the same time last year. Ebay� s boss says the company will be stronger coming out of the pandemic than going in. Joining me now is fergal omullane, ceo at validify, who are Online Retail consultants. Welcome to the programme. Talk us through your thoughts on how ebay has been doing. Ebay has been doing. Well, think basically ebay has been doing. Well, think basically what ebay has been doing. Well, think basically what we think basically what we are seeing is a massive surge in Online Retail generally and ebay are kind of riding that wave. So obviously the results they are seeing in the marketplace right now, the investors clearly are very happy investors clearly are very ha ppy with investors clearly are very happy with performance, but coming into the pandemic they were really struggling and, you know, In The Shadow of amazon, so the pandemic has been good for them, so the pandemic has been good forthem, but so the pandemic has been good for them, but they are also kind of benefiting from people at home having not a lots to do and a lot of time on their hands, so spending and kind of clearing out their house of goods. Clearing out their house of noods. ,. , clearing out their house of mods. ,. ,. , goods. How do you think ebay has managed to stay relevant . Because it has been around for a very long time once upon a time it was seen as the new kid on the block, but now there are so many alternative places to sell online come you have facebook marketplace, you have lots of local pages and abbott and websites for your local community is where you can buy and sell without having to pay and sell without having to pay a fee. I and sell without having to pay a fee. ~ � , a fee. I think its ust the kind of really, h a fee. I think itsjust the kind of really, like a fee. I think itsjust the kind of really, like you. A fee. I think itsjust the i kind of really, like you said, they were one of the originals, they were one of the originals, they kind of came around at the original. Com, so they have built a massive brand and infrastructure. And there is a general trend towards marketplaces. So i think they are just one of the establishment at this point. They know. But my point is how have they managed to stay in the game and do really well in this last quarter . Many were writing ebay off. Writing ebay off. They have been struggling. Writing ebay off. They have been struggling. I writing ebay off. They have been struggling. I think writing ebay off. They have been struggling. I think if. Writing ebay off. They have i been struggling. I think if you compare their performance against amber zone which is the giant in the marketplace, their performance is tiny in comparison to the amber zone. What they need to do now is really carve out nieces. What you find on ebay is a lot of kind of product are kind of collectables or treated there. Also a big part of it for them is a lot of the retail brands use it as a kind of channel to sell their goods and i think some of them prefer to sell through the likes of ebay than amazon. Mil through the likes of ebay than amazon. �. , amazon. All right, fergal, thanks your amazon. All right, fergal, thanks your thoughts. Amazon. All right, fergal, i thanks your thoughts. Fergal omullane from validify. Is the Music Streaming industry fair to musicians . Thats one of the questions being considered by a uk parliamentary enquiry into the economics of Music Streaming, which continues today. Last month musicians told members of parliament that the Current System threatens the very future of music. The boss of ppl, which represents thousands of performers, told the enquiry many are struggling. There does need to be more liability at the isp level to make sure better deals could be done support the overall industry. It is not a supporting record companies, it is the thousands of performers were then struggling to make a living given the competition, given the lower value of the overall marketplace. Paul reynolds is Managing Director of music agency massivemusic london. We will talk it through with him. Paul, it has been the perfect storm, hasnt it, as we have known, streaming has really hit musicians hard for quite some time and now covid has also hit musicians with live events cancels, massive things Like Glastonbury not happening, et cetera. Things Like Glastonbury not happening, et cetera. Yes. Its been incredibly happening, et cetera. Yes. Its been incredibly tough happening, et cetera. Yes. Its been incredibly tough for been incredibly tough for musicians at the moment. And, you know, Ithink Musicians at the moment. And, you know, i think this streaming platforms are coming under heavy fire. But im not entirely sure they are completely to blame. The streaming platforms havent really been paying artists a great deal for a long time. Really been paying artists a great dealfor a long time. I think it is only the top of the very top of the top i actually earn a living from Music Streaming. Earn a living from music streamint. ~ ,. , ~ earn a living from music streamint. ~ ,. , ~ , streaming. When you think this is auoin streaming. When you think this is going then . Streaming. When you think this is going then . This is going then . This parliamentary enquiry has been going on quite a few weeks. We have talked about it before with other people stop what you think the outcome might be and what will it mean for musicians . What will it mean for musicians . ~. , musicians . Well, we really need to have a look musicians . Well, we really need to have a look at musicians . Well, we really need to have a look at whats to have a look at whats happening with the finances here. If we take the spotify, for example, their modelling is based on premium signups, people paying per month for streaming services. As someone streams exclusively music, 70 of that money then is paid to the rights holders. That is basically like labels. It is the labels we need to pass that money on to the musicians, to the song to the performers. So dont think we blame entirely lies on streamers. I think they needs to be a lot of work to be done on those deals with the record labels and for artists to really start pushing against their record label deals. D0 their record label deals. Do ou their record label deals. Do you think their record label deals. Do you think that what will be done . I you think that what will be done . � you think that what will be done . � ~. You think that what will be done . , � ~. , done . I dont know. The problem is the record done . I dont know. The problem is the record labels done . I dont know. The problem is the record labels have done . I dont know. The problem is the record labels have such is the record labels have such huge power and its very difficult to launch your career without them through their incredible marketing and their support for artists. Support for artists. Because when it comes support for artists. Because when it comes to support for artists. Because when it comes to demand i support for artists. Because l when it comes to demand and supply, when it comes to demand and supply, we havejust had results from spotify who have done obscenely well. There is the demand there. People will continue to use spotify and other streaming platforms, despite the fact many of us know artists see very little benefit from its. Benefit from its. Yeah, absolutely. Benefit from its. Yeah, absolutely. The benefit from its. Yeah, | absolutely. The Market Benefit from its. Yeah, i absolutely. The market is looking at huge growth. I think we are looking at a 7. 5 billion growth up to 202k. That is a 90 year on year growth. But i think what spotify and other streaming Services Offer is more of a shop window for artists. So you can go and engage with your favourite artists, you can click through by merchandise, you could buy live tickets. But now i noticed that spotify is moving into the streaming arena, so you will be able to buy live streaming. So im hoping that means revenue will get back to the artists and performers. Will get back to the artists and performers. And what have artists been and performers. And what have artists been doing and performers. And what have artists been doing to and performers. And what have artists been doing to survive i artists been doing to survive this Global Pandemic, the impact it has had on them . Many treat impact it has had on them . Many great artists impact it has had on them . Many great artists have impact it has had on them . Many great artists have actually, great artists have actually, theyre not able to pay their rent at the moment. They are really heavily relying on music charities in the uk, there is help debbie musicians, which is a fantastic resource. The government advised musicians retrain, which is quite insulting considering. {30 insulting considering. Go into computing, that kind of thing. Into computing, that kind of thin. ~ , into computing, that kind of thin. ~ ,. Thing. To think they would retrain after thing. To think they would retrain after spending thing. To think they would | retrain after spending their entire career on something which is, in fact, so valuable for our economy. The arts is such a huge industry. Bill such a huge industry. All ri. Ht, such a huge industry. All right. We such a huge industry. All right, we are such a huge industry. All right, we are out of time. We appreciate you getting up. Paul reynolds there from massivemusic london. Thank you. Stay with us on bbc news. Still to come from the Bank Of England to fight against Global Warming, un climate finance chief mark carney talk to us about the agenda. The uk and eu have agreed to work intensively in order to sort out problems with the post brexit trade in northern ireland. For more than a month, Northern Irish supermarkets have struggled with supplies, and this week border checks were suspended after staff were threatened. The uk wants the tougher enforcement of Trading Rules to be delayed for nearly two years, but the Eu Commission has suggested the issues could be resolved without needing to do that. Nhs england has said more than 1,500 sites around the country are now offering vaccinations. 39 additional large centres have opened this week including basingstoke fire station in hampshire, chelmsford racecourse, and the Royal Cornwall showground. The family of captain sir tom moore said they were incredibly touched by people taking part in a nationwide round of applause in his memory yesterday. Captain tom, who raised more than 30 million for nhs charities, died on tuesday at the age of 100. This is bbc world news, the latest headlines protests continue in myanmar as the un calls for the release of leader aung san suu kyi, whos been charged by Police Following mondays military coup. Scientists try to find out if using different covid i9 vaccines for the first and second dose may help the body develop better defences. Lets turn to Climate Change now, because according to the United Nations, the coronavirus pandemic is making vital International Cooperation over Global Warming much harder. According to recent research, of the estimated 13 trillion richer nations are spending on Stimulus Measures most of it will end up harming rather than helping the environment. Former bank of England Governor Mark carney is now the United NationsSpecial Envoy on Climate Action and finance. He has been speaking to our own sharanjit leyl. Sharan, tell us more. Sharanjit, what did he have to say . Sharanit, what did he have to sa . ~. , sharanit, what did he have to sa . ~. , say . Well, quite a lock, sally. But really say . Well, quite a lock, sally. But really just say . Well, quite a lock, sally. But reallyjust to say . Well, quite a lock, sally. But reallyjust to give say . Well, quite a lock, sally. But reallyjust to give you say . Well, quite a lock, sally. But reallyjust to give you a i but reallyjust to give you a sense of what is going on. I mean, it is reall