At one point they were down by almost a third. Metro bank is the youngest lender on britains high streets. It launched here back in 2010 in the wake of the Global Financial crisis to take on the likes of lloyds and ba rclays. It was the first to do so for more than 100 years. But its had a series of Financial Issues and on thursday there were reports that its urgently trying to raise up to £600 million to shore up its finances. So should customers be worried . Heres our Business Correspondent theo leggett. Well, i dont think customers should be too worried at this stage. Although a 25 drop in the share price is clearly not a good look, metro bank insists that, fundamentally, its finances are pretty sound, it made a profit in the first half of this year, and it continues, crucially, to meet all regulatory requirements in terms of the financial buffers its obliged to give. 0n terms of the financial buffers its obliged to give. On top of that, the Financial ServicesCompensation Scheme does guarantee the first £85,000 of each depositor� s savings, so that as a buffer as well. That said, there are clearly some concerns about the Long Term Health of this bank and thats principally to do with the amount of money that it seems to be in line to have to raise over the next couple of years, several hundred million. Another is raising concerns about whether you can afford its ambitious Expansion Programme which involves, for example, setting up 11 new branches in the north of england. So there are concerns about this bank and we know that officials at this bank have met with prudential regulation authority, the banking regulator, and we know that Treasury Officials have beenin that Treasury Officials have been in touch with the regulator as well to give an eye on whats going on. But short of a sudden crisis in confidence in the bank no need to panicjust now. Lets speak to susannah streeter, head of money and markets at hargreaves lansdown. Hello there. That was theo speaking some 12 hours ago. Do you think there is going to become as we start the new business day today or will people be worried . I business day today or will people be worried . I think there is still people be worried . I think there is still going people be worried . I think there is still going to be i people be worried . I think there is still going to be a| there is still going to be a certain amount of worry among invest as in particular, not really customers so much, because it doesnt look like is going to be any immediate change in their circumstances at all. There could be a sell off of part of metro banks maugas book, for example, as part of this sale, but really is on whether investors, current investors, potentially new investors, would be willing to put more money into metro bank to help it raise this money that it needs to ensure that its capital buffers, the money that it needs to keep on hand, in assets that he can sell at short notice if it needs to, well, those are really operating right at the edges of the rules and so what it needs to do is try to boost that part of its capital buffers, this kind of Emergency Life Boy that it has in case there are further difficulties. So its not an immediate problem and, yes, certainly the bank has met with the prudential regulation authority. It is understood to have been a meeting that had been set up some time in advance, ratherthan been set up some time in advance, rather than an emergency meeting. So i think right now the focus is really going to be on what investors think about its proposal to raise this money. At the moment they dont seem to enthuse, which is why you have finished our price fall. Our price fall. Im going to sa , our price fall. Im going to say. You our price fall. Im going to say. You did our price fall. Im going to say, you did mention our price fall. Im going to say, you did mention that| our price fall. Im going to say, you did mention that that it depends on the willingness to invest. What will those investors need to see of metro bank . ~. , , bank . Well, certainly they will be looking bank . Well, certainly they will be looking very bank . Well, certainly they will be looking very closely bank . Well, certainly they will be looking very closely at bank . Well, certainly they will be looking very closely at the l be looking very closely at the details of the plans and be talking to them, particularly the Institutional Investors about what they want this money for, about the other possibilities that could be on the table. It needs to refinance, we understand £350 million of debt, and it has a target of doing that by october 2025, but it will want to have done that before that deadline date and the problem is borrowing money right now on Financial Markets is more expensive because Interest Rates have gone up, which is why its looking like it is going to go to existing shareholders for extra funding, because of the cost of borrowing shooting up quite dramatically. Certainly metro bank is in a tight spot. Its profitability is under question. It has turned profitable, boosted this year, because Interest Rates have gone up and that helps the property can make on its loan books, for example, but in the future Ratings Agency features cast out over its future profitability because of these problems and because it is going to face difficulties in expanding and it is the capital raised to dojust expanding and it is the capital raised to do just that. So there are lots of questions remaining, but certainly for customers they shouldnt be too concerned. There money, of course, will be safeguarded by the Financial ServicesCompensation Scheme, £85,000 per person per institution with the banking alliances. Crosstalk. I think is likely some of the assets will be sold. Susannah streeter, assets will be sold. Susannah streeter, thank assets will be sold. Susannah streeter, thank you assets will be sold. Susannah streeter, thank you very assets will be sold. Susannah i streeter, thank you very much. To the us now, where the feud between elon musk and financial regulators is escalating. Wall streets watchdog, the securities and Exchange Commission, is investigating the worlds richest man, over his 41; billion takeover of twitter. On thursday it revealed its taking legal action against him for failing to provide them with information. Michelle fleury is following the story. The securities and Exchange Commission wanted elon musk to come in and testify in san francisco. He was asked to come in and, in fact, a date had been mutually agreed upon in september stop but he failed to show up. So the sec is suing them in federal court to get him to testify. Now, this investigation is trying to determine whether investors were defrauded when elon musk purchased twitter last year after building up a small stake in the company he completed the deal to buy twitter which He Ray Named X last year for 44 million 41; billion. Evs is more hot water. Last year a judge said he would have to face a lawsuit for waiting too long to disclose had invested in the social media company. As for the sec and mr musk, lets just say there is no love lost between them. After paying 20 million to settle a case brought by the sec back in 2018 involving his other company, tesla, mr musk derided the agency, saying in an american tv interview ido not respect the sec. That was Michelle Fleury there. Lets stay in the us, because in a few hours time we get official Employment Numbers for september. Theyre seen by Financial Markets as crucial in deciding whether the Federal Reserve will now call a halt to its cycle of Interest Rate rises. The us created 187,000 newjobs in august more than expected raising concerns the fed might need to take more action to slow the economy and get inflation under control. Nela richardson is Chief Economist at americas adp research institute, which provides regular reports on the us labour market. I wont if we could just start off first with the figures and what you found from your own analysis. What you found from your own anal sis. ,. ,. ,. ,. What you found from your own anal sis. ,. ,. , ~ ,. , analysis. Good morning. We saw analysis. Good morning. We saw a re analysis. Good morning. We saw a pretty steep analysis. Good morning. We saw a Pretty Steep Slowdown analysis. Good morning. We saw a Pretty Steep Slowdown in analysis. Good morning. We saw a Pretty Steep Slowdown in the l a Pretty Steep Slowdown in the septemberjob gains, it was 89,000, most of those coming from the leisure and hospitality sector, which has been the stalwart of this economy. That steep slowdown suggest todays number may be weaker than the consensus, but i agree with you, its a very important numberfor the i agree with you, its a very important number for the fed and its next rate decision. What you expect to happen today than . I what you expect to happen today than . ~. , what you expect to happen today than . ~. ,. , than . I think there are several features of than . I think there are several features of the than . I think there are several features of the labour than . I think there are several| features of the labour market, its notjustjobs in the its notjustjobs in the united dates, its also wages. That will be an important indicator. We have been sharing with the adp payroll data on over 26 million us workers that wages are starting to decline pretty steadily, so people who are worried that wages could spike up again and cause more inflation, i think this report will show thats not going to happen. Its really about relative strength of the us economy. Still have a solid labour market, even if its economy. Still have a solid labour market, even if its low in september than what we are used to, its probably more in line with historical trends, just like Interest Rates are right now. In just like Interest Rates are right nova right now. In terms of the interest right now. In terms of the Interest Rate right now. In terms of the Interest Rate rises, right now. In terms of the l Interest Rate rises, positive impact that they had on the us economy . Economy . They are starting to see ben. Economy . They are starting to see ben. We economy . They are starting to see ben, we expect economy . They are starting to see ben, we expect the economy . They are starting to see ben, we expect the us see ben, we expect the us economy will slow down. Remember, this is an economy that has had rock bottom Interest Rates for the better part of a decade, along with a lot of physical spending directly to households and businesses. So its an economy thatis businesses. So its an economy that is going to lose its training wheels. It is to stand up training wheels. It is to stand up right and it might wobble a little bit. The us economy is going to have to, i think, gets to along Interest Rates, whether is a smidgen more the fed raises Interest Rates a couple more times or one time desire longer, is a very different economy than the us economy face even a few years ago. Economy face even a few years a. O. Economy face even a few years a a 0. �. , economy face even a few years auo. . ,. , ago. 0k, milla richardson, thank you ago. 0k, milla richardson, thank you very ago. 0k, milla richardson, thank you very much ago. 0k, milla richardson, i thank you very much indeed. Chief economist at adp research institute. This week theres been turmoil on bond markets, with a sell off on wednesday pushing the yield or implied Interest Rate on us 30 year Treasury Bonds to 5 for the First Time Since 2007. Its been driven by a fear that us Interest Rates will need to stay higher for longer. Lets bring in charles seville, Senior Director at fitch ratings. Hello there to you, charles. Just lay out the story for us at the moment. At the moment. Yes, good morning at the moment. Yes, good morning as at the moment. Yes, good morning. As you at the moment. Yes, good morning. As you say, at the moment. Yes, good morning. As you say, the i at the moment. Yes, good morning. As you say, the bond yields have risen very sharply of the past month. Pretty dramatic moves by the scale of the bond market. Think the bond market is telling us three things, basically, it thinks that policy rose, the short term rates that central bank that are going to stay Higherfor Bank that are going to stay higher for longer. Bank that are going to stay higherfor longer. The bank that are going to stay higher for longer. The term premium in the bond market, which is a measure of the compensation investors get for holding longer bonds, longer term bonds, thats risen and i think that reflect uncertainty over where rates are going to settle long term in this sort of post chewy environment. And other rates have also risen. I think that reflects worries over supply and demand, particularly in the us bond market. The us is running pretty loose fiscal policy, issuing a lot of debt and i think the yields are rising to compensate for that. 0k, rising to compensate for that. Ok, so in terms of global Interest Rates, are they going to keep rising then . Is that what we are saying . I dont think so what we are saying . I dont think so i what we are saying . I dont think so. Ithink what we are saying . I dont think so. I think in what we are saying . I dont think so. I think in terms i what we are saying . I dont think so. I think in terms ofj think so. I think in terms of policy rates, Central Banks are near the end of rate rises. Its true the us economy has been much more resilient than most people expected and is going to grow to 2 this year, but it was always understood that Monetary Policy operates with legs, so the effects take time to feed through, but here at fetch we think us is going to go into recession in early 2024 and that will lead policymakers to current rates. We havent even mentioned inflation yet, inflation is gradually coming down, so thats encouraging, but it is still if youre looking at Core Inflation in the us it still twice the target level, so that is really why Central Banks are concerned and why theyre keeping rates Higherfor Keeping rates higher for longer. Keeping rates higher for loner. ,. , keeping rates higher for loner. ,. , ,. , longer. Obviously we have the imf and world longer. Obviously we have the imf and world bank longer. Obviously we have the imf and World Bank Annual. Imf and World Bank Annual meetings coming up. What can we expect from them . Expect from them . Well, i think the will expect from them . Well, i think they will be expect from them . Well, i think they will be partly expect from them . Well, i think they will be partly focused expect from them . Well, i think they will be partly focused on i they will be partly focused on spillovers for the rest of the world. So us bond market sets the pace for the global bond markets, if you like, and all dollar borrowers, borrowings are essentially priced off the us long bond. So this does reduce flows potentially through emerging markets, it makes Borrowing Conditions for developing countries more difficult, so i think that will be a focus of concern. Be a focus of concern. Ok. Charles be a focus of concern. Ok. Charles seville, be a focus of concern. Ok. Charles seville, senior charles seville, Senior Director at fitch ratings. Thank you very much. Around the world and across the uk, this is bbc news. Bbc news, bringing you different stories from across the uk. 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