let's look at a big story covered in the times. elon musk‘s rocket gets this double—page spread, the paper describes the launch as the start of a new space odyssey. and, finally, the daily telegraph it's among the many with this face on it. it's a reconstruction of britain's oldest skeleton. it says the black man with blue eyes and dark curly hair is confounding british stereotypes. cornelia meyer, ceo of business consultancy mrl corporation, is back with me. welcome back. we have talked about this to a degree already. it is interesting to hear lafita's take on it, talking about the concern that there could be a new financial crisis on the horizon, your thoughts about that? prasad not do too badly on tuesday. i would say it is somewhere between —— france. it is

an adjustment to the new normal. the new normal being interest rates rising in the us. credit becoming more expensive, which is especially bad for companies which have a high leverage. and the cheap money, the bond buying of the central banks, both in the us and in europe stopping. so we are getting off that drug called cheap money and low interest rates. acres people at this point are thinking about where to put their money, the pension fund managers, the big fund managers, if interest rates in the united states are going to go up more than we were thinking, maybe more than three times this year, maybe four, you will think about where to put your money, it won't necessarily be in emerging markets. it might be in the united states. it may be in the united states. it may be in the united states, it may be in europe, which is going gangbusters. what has

been encouraging for emerging markets, we did not see that drain of capital. remember when they started, when they had ill fate of rate hikes in the fed a few years back, it was all that money being sucked out of emerging markets. we have not seen that happening yet. at this point we all have to be poised and wait. volatility is certainly back. in the last few years we have had an initial period. the bull run went on and on and on. we have in waiting for this moment for quite sometime. when it did arrive it was extremely extreme... there is this thing called the vics, the volatility index. it went up to 50 and down to 31. yesterday the dow jones was down on top of the day before. the volatility, it was at

historic highs. but we wanted volatility back, now we have it back. indeed. there we are. we are back. indeed. there we are. we are back on track will stop the financial times dedicates half of its front page to the markets. the other half is the german union wins a28 other half is the german union wins a 28 hour week after workers flex their muscles, in a french manner, it says. i thought that quite amusing. tel asked —— tell us about this. we have been following the process on a business coverage for some weeks now stipulate the deal is, ig metall is one of the biggest unions, it is also the trailblazer. usually other unions follow where they go. this is the thinking. tell us they go. this is the thinking. tell us about the deal and is it inflation busting? it is inflation busting. it is not helping the competitive edge of germany. just as france is getting its competitive

edge, germany is going the other way. 28 hour weeks, if you want, it you won't get paid quite as much, but up to now it was the french and the germans had a 35 hour week. the germans had a 35 hour weekm only for those who choose to work 28 hour week ‘s. only for those who choose to work 28 hour week 's. where they have a concession if they don't quite earn as much as those who worked 35 hours. the trade union went in and said those working 38 hour should get as much. we need to see this against the bigger backdrop against what is going on in berlin right now, where angela merkel is trying to get together a coalition with the social democrats, and other grand coalition. in a sense 16 metall saw an opportunity. they had a moment to broker a very good deal. there is no government, only a caretaker government. at the same time, the social democrats are really negotiating very hard. these

negotiations should go to berlin. that is really bruising. here in the uk, many were watching the grilling of the former bosses of carillion. this is the company, it was a huge employer in this company, but also around the world. most of its contracts on many of them work with government in the uk, providing a loss of services to all sorts of areas ‘— loss of services to all sorts of areas —— lots of services. this colla pse areas —— lots of services. this collapse and went into administration. there were questions asked about how this company was run at the very top and why it was allowed to go under. how did you feel these former bosses did. the chairman, philip green, saying i ta ke full chairman, philip green, saying i take full responsibility for this. all of these people take full responsibility, but they still get their bonuses and they get paid and they have the full pension benefits, whereas a lot of people who were let

go without pension benefits. one of the mps, the members of parliament, said the cfo of the company was asleep at the wheel. it was notjust him asleep at the wheel, i ask myself where were the auditors? pricewaterhousecoopers, where were they? they also will be facing a grilling about their process, whether they did due diligence or not. there was an issue of them saying everything was fine, just before profit warning was issued. one thingi before profit warning was issued. one thing i have seen that british companies, as opposed to american companies, as opposed to american companies, where the internal audit function is very strong, in britain it is usually the week and the soon—to—be retired. there is a strong case to be made... the question is, what will happen? we talk about the fact they took their

bonuses and dividends and various other elements, there is public uproar about this. many jobs other elements, there is public uproar about this. manyjobs are hanging in the balance. yet what will happen to these individuals who made such major mistake at it? we don't know. at this point, nothing, but as you said there is so much outrage that at some point they will have to say we went take the bonuses 01’ have to say we went take the bonuses or do something. we will not know. going forward, we should see how can we avoid things like this to happen? let us talk about elon musk and his rocket. the those watching in south africa, we have a big audience there at this time, we know he is south african, although we are describing him as an american entrepreneur. we have been tweeted, this was my mistake, this song in the lip mika is space oddity by david song —— on a loop in the car is space oddity by

david bowie. he has launched this rocket successfully today. 50—50 chance of it going well. he has done it at chance of it going well. he has done itata chance of it going well. he has done it at a low cost. and he gave it, when he started out on the journey, he gave it a 10% chance. he captures the imagination of people. he ca ptu res the imagination of people. he captures the imagination of people to go back into space. it will take matter until 2030 to go to mars. he wa nts to matter until 2030 to go to mars. he wants to go to mars by 2022 —— nasa. he can do that. anything nasa does, the state agency for space in the united states, they need congressional approval. united states, they need congressionalapproval. he united states, they need congressional approval. he can do it ona congressional approval. he can do it on a lower budget and he does it. he did it with tesla. a company that still does not make a profit but a higher market and gm. it is incredible really. very quickly, cheddar man. extraordinary that this

image resting on the front page of the daily telegraph could be our forefather. the thing here is that he was an immigrant. it shows that at some stage we were all immigrants somewhere. that is how you ended. it is quite fascinating. curly black hair, black skin, bright blue. the images on the front page of the daily telegraph. to read more detail later. thank you so much two diffa coming in. it is good to see you. thank you for your company and your comments. so many of you on a mission to mars it would seem. goodbye. hello. it feels like we've been stuck in the deep freeze over the last few days, and that's not going to change very much during wednesday. cold air remains firmly in place, and some of us have some snow on the ground, as well — that weather watcher picture from north yorkshire on tuesday.

where we have the lying snow, particularly, there is the risk for some ice during wednesday. a widespread frost, certainly, to start the day, because we are still firmly ensconced in this cold air. something a little bit milder out in the atlantic, but we won't feel the effects of that just yet. for the time being, this area of high pressure giving most of us a fine, dry but cold start to the day, under largely clear skies. our towns and cities down below freezing, but out in the countryside, those temperatures really have been dropping away. the sorts of temperatures we'll have to start the day — between about —5 and —11 degrees. still some snow, potentially, for a time across east anglia, and the south—east, as well, this weather front tending to push away and another weather system starting to show its hand out west. that will start to thicken up the cloud through the morning across the western side of scotland. perhaps just one or two showers clipping into north—east scotland, but generally, across eastern scotland and down into the heart of england and wales, there'll be a fair amount of sunshine. some extra cloud for northern ireland.

the odd shower, maybe, for west wales and the south—west of england, and still some of those snow showers taking time to clear away from the far south—east. but they should do so fairly smartly during the morning, in most areas, and then a nice slice of sunshine. eastern scotland, and particularly england and wales, seeing plenty of crisp winter sunshine during wednesday, but this frontal system will thicken up the cloud out west. outbreaks of rain, and ahead of that a spell of snow for a time, particularly across scotland. still a chilly feel to the day. now, as we go through wednesday night, we'll bring this band of cloud and rain, and some snow on its leading edge, further southwards and eastwards. but we start to pick up more of a south—westerly wind, so that's going to bring some slightly milder air. these are your overnight lows — edinburgh, belfast only down to four degrees. the coldest weather to start thursday morning will be across the south—eastern corner, where the skies stay clearest. but that's where we'll have the best of the sunshine during the day on thursday, this band of cloud and outbreaks of rain continuing to sink southwards and eastwards,

and in fact, the rain looks likely to turn heavier particularly across parts of wales and northern england as we get on into the afternoon. something brighterfollowing on behind for scotland and northern ireland, but with a fair rash of showers, a slightly milder day. but as we push that weather front away, we get back into the cold air, with some further snow showers for the end of the week. hello — this is breakfast, with dan walker and louise minchin. the most powerful rocket in the world successfully launches. its billionaire backer elon musk says it will help cut the cost of space travel and he even put the first car in space. good morning — it's wednesday 7 february.

also this morning: millions of workers in the gig economy are to get new rights including holdiay and sick pay. £50 billion was wiped off the value of the uk's biggest companies yesterday after turmoil on the global markets.