Transcripts For BBCNEWS BBC Newsroom Live 20170620 : vimarsa

Aus north korea as a brutal regime after a us student that was imprisoned there guys. Stay hydrated, as the uk heatwave continues. Imprisoned there guys. Imprisoned there has died. Good morning. Its tuesday 20th june. Im annita mcveigh. Welcome to bbc newsroom live. The Serious Fraud office has charged barclays and four former executives including former chief Executivejohn Varley with fraud over the banks dealings with qatar at the height of the financial crisis. Barclays raised Emergency Funding from qatar in 2008 to avoid a government bail out. Now barclays has become the first bank to Face Criminal Charges for actions during the financial crisis. With me is ben thompson. The first Senior Executives to face charges over alleged activities in that period of the financial crisis. Tell us more period of the financial crisis. Tell us more about what the charges are. You have two turn the clock back to 2008, the height of the crisis. Three of the biggest banks said they we re three of the biggest banks said they were in danger of collapsing if they did not have funding. They needed money to prop up the banks. Lloyds and rbs turned to the government, the taxpayer, for a bailout. We know thatis the taxpayer, for a bailout. We know that is slowly being unravelled. Lloyds returns to private hands, rbs very much still owned by the taxpayer. But barclays did it differently. They went to guitar. They said, give us an injection of cash and we will use it to prop up the bank. The qataris. There is speculation about how it was done and what terms were associated with it. The Serious Fraud office is concerned. There are two issues they wa nt to concerned. There are two issues they want to know, one, a payment, an advisory fee of £346 million, they wa nt to advisory fee of £346 million, they want to know what it was for and why it was paid. There is also fundraising including 3 billion. About £2. 3 billion of loans offered to the qataris in return. Questions about what the terms are associated with that. The Serious Fraud of this is very concerned that there was some misconduct involved. Barclays said they will conduct their own investigation but will respond to these allegations. But four former berkeley s bosses will appear before Westminster Magistrates on july the 3rd. Before Westminster Magistrates on july the 3rd. Charges against the holding, not the bank itself. It is a bit technical. Yes, it is the Holding Company and not the individual bank. But as you said in the introduction, the interesting thing is it is the first time it has been brought against former bank executives. Do some people it seems slightly counterintuitive because this bank did not ask for a bailout. For some people it seems. This bank did not ask for a bailout. For some people it seems. It seemed maybe we were doing a paper because we are going to the markets, doing ourselves and raising money that they would have to pay back. They did that on the basis of avoiding to need to ask the taxpayer for more money. I was out in the middle east when the deal was done. There was a feeling then, i was there soon after the deal was announced, that it was the gulf rescuing british banks because they had got in so much trouble at the height of the crisis. All the banks we re height of the crisis. All the banks were facing a big funding shortfall, all related to the sub prime housing crisis which began in the us and spread around the world. The availability of cash in the banks was a real issue. They needed the money, they said they would not ask the government but seated themselves from the market. They have done that and now four former executives face and now four former executives face an enquiry from the Serious Fraud office. Thanks for that, ben thompson. Some Breaking News to bring you now. We are hearing from vince cable that he will be a candidate for the Liberal Democrat leadership. He announced that with 20 years on the National Political stage he is as passionate as ever about the partys liberal values. He said with the prospect of another election looming large, they must be ready for the fight. The brexit negotiations started, the government is weakened, and he argues the Liberal Democrats alone have a consistent and principled outward looking approach. He said the contest is going to take place with the biggest membership electorate in the biggest membership electorate in the partys history. These arejust some lines from a lengthy statement from Sir Vince Cable. He has announced he is standing to replace tim farron as leader. We will get more about that with norman smith in just a few minutes. Before that. The family of a man arrested after a Terror Attack near a London Mosque say they are shocked and devastated. Father of four Darren Osborne, was held on suspicion of Attempted Murder and terror offences after a Van Hit Muslim Worshippers in Finsbury Park. Last night a vigil took place near the scene of the attack. Simon clemison reports. They came to break their fast with prayer. Just as they had 2a hours earlier. A demonstration that nothing has changed. Ramadan too important to miss. Everyone is still shocked by what happened. There is a little bit of fear, but at the same time no one is staying away or hiding because of what happened. Everyone is coming out to pray. Of course were coming. It is a mosque. We have to pray. We cannot run away from our prayer. It is after midnight and about this time last night the attack took place. People have come from other parts of london to pray here in the mosque tonight in a show of solidarity. They have been embracing in the street. The leaders told me that despite it being one of the busiest times in ramadan it has been quiter tonight. Some have stayed away. Earlier, the Community Held a vigil attended by the commissioner of the Metropolitan Police, Cressida Dick. And the mayor of london, who spoke of communities fighting division. What you have seen in the last 2a hours is muslims, jews, christians, hindus, sikhs, those of organised faith and those that are not, rich, poor, old and young and coming together and saying, not in our name. Officers continue to hold a man arrested under terror law, who the bbc understands to be 47 year old Darren Osborne from cardiff. His family are said to be in shock and disbelief. In a moment, well speak to our correspondent tomos morgan, who is outside the suspects house in cardiff. But first lets go to our correspondent lisa hampele, who is at the scene in Finsbury Park. How are people feeling there today . We had that vigil last night. The police said there will be a strong presence at other mosques. What is the mood today . This is a proud multicultural part of london. Maybe less gentrified than other parts, but where communities have lived happily side by side, multi faith communities, for years. Everyone is pulling together. See the flowers and messages behind me, a lot of them are from other communities, saying things like, stand by me and not in my name. Everyone is pulling together. They are doing what the mayor blood and asked them to do yesterday, staying calm and being vigilant. There is anxiety. We have heard from muslim leaders, saying islam phobia has got worse. There have been four Terror Attacks in three months and there are concerns. At prayers last night people were getting on with life and quietly doing what they have always done. And showing defiance by doing things as usual. We have had many people this morning walking along the flowers a nd this morning walking along the flowers and under the bridge, quietly reading the messages, women with babies, people coming from other parts of london to see what is happening. Life is going on as normal but you can feel people are unsubtle. Lisa, thank you. People are not settled. We know that Darren Osbornes family have been talking about their shock at his arrest. What more do we know about him and what are his family saying . We understand the police are continuing their investigation with what they believe to be the residents of Darren Osborne. This is where they believe he lived. Home. They are continuing the investigation. We have seen police cars and officers coming and going throughout the morning here, as they change over shifts and different officers carry on the investigation inside the house. We know the rented van was from a a village around 15 miles to the north west of cardiff. I was speaking to some of the people who live in this area, in this cul de sac, and they were telling me the overwhelming feeling is one of shock, that someone in their community could have committed such a horrible incident in london. You mentioned a statement from the family. As you say, they are completely shocked by the news. They say it is unbelievable. They said they feel devastated for the families involved in the incident. And they have no indication he displayed any racist views. The police are continuing their investigation in cardiff and will pass on any information to the Metropolitan Police in london in june of course, i am sure. 0k, thank you. Shortly, im sure. Sir vince cable will stand as a candidate for the leadership of the Liberal Democrats, replacing tim farron, who is standing down. Lets talk about that with norman smith now. Norman, he has been Deputy Leader and acting leader. Is this his time to formally take the hot seat . I think many people in the party would view him as a natural person to take over from tim farron. He isa person to take over from tim farron. He is a name, known among the wider public, he has experience in government. He is very much of the Political Centre at a time when there is a hole in the Political Centre. That is in his favour. Against him is the fact he was in coalition with the conservatives. Many Liberal Democrats would hold that against him. There is the age factor. He is now 7a. I spoke to him this morning. He said there is no reason why he could not do a gladstone. Gladstone served as Prime Minister well into his 80s and beyond. Jeremy corbyn has shown there is no reason why somebody getting on and cannot still be active and energetic in politics. But he did not rule out the possibility of maybe only serving for two years until the Brexit Process has completed. And then standing down for a younger leader. That is a few steps away. He hasnt been elected yet. But if he is, maybe he could be a Caretaker Leader. He has not confirmed that but that is an option on the table, he might only serve two years, then stand aside to allow younger leader to ta ke stand aside to allow younger leader to take over. But he is the first person to formally throw their hat into the ring. It was thoughtjoe swinson, anotherformer into the ring. It was thoughtjoe swinson, another former Liberal Democrat minister might stand, but she is going against it and running for the Deputy Leadership. Another name floating around is norman lamb, who stood against tim farron in the last contest, and certain ed davey, anotherformer liberal last contest, and certain ed davey, another former Liberal Democrat Cabinet Minister. We will not let you go yet because we have a lot more to talk about. The chancellor has promised to keep taxes as low as possible. And to strike a Brexit Trade Deal that safeguards british jobs. Giving his annual Mansion House speech this morning, Philip Hammond pledged to keep the border between Northern Ireland and the republic open and free flowing. Meanwhile, the governor of the bank of england, mark carney, warned brexit was likely to slow Income Growth. Lets get normans thoughts on that. Mark carney saying brexit is likely to make people poorer. He has already said Income Growth has slowed. At the chancellor in a similarvein said slowed. At the chancellor in a similar vein said people did not vote for brexit to become poorer. Is this a sign of a lessening of Austerity Heading into brexit . And if so, is the chancellor is setting himself on a Collision Course with other members of the government . Honestly, we do not quite know. Because we seem to get conflicting signals from the chancellor today. At one point he said how people were wearing of seven years of austerity. That would be a sentiment chime in with the views of many conservative mps who take the view one of the reasons they did not win the General Election was because they had to campaign ona election was because they had to campaign on a message of more austerity. The chancellor seem to acknowledge that. But a little later in his speech he signalled the government would stick by plans to balance the books, get rid of the deficit, by 2025. That would mean carrying on the existing pay caps in the public sector, continuing the freeze to the working age benefits, and other benefit cuts. In other words, existing plans for austerity. That is what the chancellor seemed to signal. Just have a listen. The Conservative Party will remain committed to Keeping Taxes as low as possible. And higher discretionary borrowing to fund current consumption is simply asking the next generation to pay for something that we want to consume but are not prepared to pay for ourselves, so we will remain committed to the fiscal rules set out at the autumn statement, which will guide us via Interim Target in 2022 a balanced budget by the middle of the next decade. He was more clear on his stance on brexit. It was hardly a raising of the remain standard, but we got a sense of his armies at the potential Economic Impact of the so called ha rd Economic Impact of the so called hard brexit. Worries at the potential Economic Impact. He was talking about a transitional process so talking about a transitional process so that businesses do not face a cliff edge on leaving the union, and although we are going to leave the union, he said we might have to retain Customer Union rules for some time to make sure we still have a frictionless trade, as he called it. Interesting also, stressing the need for continuing immigration. We are not going to clamp down on immigration, even though we want to ta ke immigration, even though we want to take back control. And stressing the need for a flexible and pragmatic approach in securing a deal with the eu when it comes to the city and ensuring the future prosperity of the city when we leave, he said, was vital to the prosperity of the british economy. This is his approach to brexit. How do we achieve this brexit for britain . Firstly, by securing a comprehensive agreement for trade in goods and services. Secondly, by negotiating mutually beneficial transitional arrangements to avoid unnecessary disruption and dangerous cliff edges. Thirdly, by Agreeing Frictionless Customs Arrangements to facilitate trade across our borders, and crucially, to keep the land border on the island of ireland open and flowing. All of this comes at the same time as we had david davis beginning his brexit negotiations. He insisted nothing has changed as a result of the General Election and nothing has changed as a result of the week and position of theresa may. From his perspective the government is standing by the Lancaster House speech and white paper mrs may unveiled before the election, setting out her route map to whats leaving the eu. When you listen to mr hammond you think he in visages a rather different approach. Norman smith, thank you. The headlines, it is 18 past 11, ba rclays the headlines, it is 18 past 11, barclays and four former executives charged with fraud over their actions in the 2008 financial crisis. The former Liberal Democrat Cabinet Minister Sir Vince Cable will stand for the leadership of the party. The family of a man arrested after a Terror Attack near a London Mosque say they are shocked and devastated. The lions have warmed up for the first test against the all blacks with the most in classic win of their new zealand tour so far, defeating the chiefs in hamilton 346. Defeating the chiefs in hamilton 3a 6. Two tries forjack nowell. Andy murray bids for his sick title at queens today. He plays on centre court today an