south china morning post covers trade between the two koreas and details the economic plan south korea gave to kim jong—un on a usb drive. and finally, bloomberg, and elon musk, who they say is putting his money where his mouth is, buying almost $10 million in tesla stock. so, let's begin. back with me isjeremy cook, chief economist at world first. the iran nuclear deal. the new york times says the us will pull out. the us new york times will have its cake and is not supportive of the trump administration. we are aware of this. donald trump is expected to leave the iran deal. this is nothing new. there is not really anyone out there in the us expecting anything different from theirs when donald

trump announces his thoughts at 6pm gmt. -- this. trump announces his thoughts at 6pm gmt. —— this. whether he leaves but goes back to exposing discomfort, we do not know. it seems him leaving the deal is almost completely priced in. rent crude is trending. for what it means for the area in light of increased faster —— vociferousness and so on, but also the axis with saudi arabia and all that, it all comes together. not just saudi arabia and all that, it all comes together. notjust how he leaves, but the manner in which it

is done and how quickly it is done. it could make it more of a tinderbox that needs to be. a lot of attention on this. there are many different scenarios as to the fallout. one of them is talking about a third way he was discussing with emmanuel macron, the president of france, basically changing the iran nuclear deals with his wider and more broad, including ballistic missiles, and also we will keep a close eye on that. in terms of financial markets, what is the biggest fear? you say a lot is priced in, the us withdrawing. a lot is based on the supply side, the impact on the thin bit of sea between iran and dubai, abu dhabi,

with a lot of oil traffic. any antagonism there will inflate oil globally. over the weekend, antagonism there will inflate oil globally. overthe weekend, on monday, even, the first lady, melania trump, she grabbed all the headlines. here we go, melania trump trolls her husband. #bebest, her campaign, allabout trolls her husband. #bebest, her campaign, all about helping young people facing a lot of issues, not least social media and how it is used. it is a big problem for young people. everyone has picked up on the irony on her talking about behaving yourself on line. it is a shame that once again this is a

woman's position put through the spectrum of what her husband thinks. but as it stands at the moment, it in some ways makes social media more kind and sensible towards especially children you may find cyber bullying impacting their day—to—day lives. —— who. but when you have a president who. but when you have a president who does this, it takes on an interesting irony. buzzfeed, looking at the fact she is perhaps reusing an obama—era pamphlet. it compares a pamphlet from the obamas with hers. they look extremely similar. this reminded me of pre—election days with her delivering a speech, pretty much lifting the words from michelle obama. she probably sees a lot of

michelle obama in herself in that michelle obama in herself in that michelle obama in herself in that michelle obama was the most activist first lady we have seen in many yea rs. first lady we have seen in many years. melania trump doesn't hold her husband's hand and smiling and waving and so on, so perhaps she is using these little head nods to michelle obama as a de facto push towards it. that is if it is her and not her team. she will not get away with it because the media has picked up with it because the media has picked up on it. the guardian. this is the question on twitter today. we will share viewer views today. this is

the resolution foundation talking about giving 25—year—olds £10,000 in the uk to give them a leg up, paying off debt, putting a deposit on a home, whatever you choose. the idea is to rearrange inheritance tax and retirement tax to pay for it. this is about redistributing funds. they are means testing a lot of things, for example, the ability to claim money for winter fuel allowance is. all of it is coming together to create a pot to allow younger people to get on the housing ladder and start a business. is it a good idea? we have seen the generational balance slip in the past 10— 20 yea rs. balance slip in the past 10— 20 years. with the rate, the cost, of living increasing dramatically,

wages not keeping up, it is eight significant side—effect of the globalfinancial rice. significant side—effect of the global financial rice. —— significant side—effect of the globalfinancial rice. —— a significant. the crucial thing is how they will use it. financial crisis. will they use it to pay off debt, student loans, will it contribute to the uk economy? ahead is not. perhaps just contribute to the uk economy? ahead is not. perhapsjust mental contribute to the uk economy? ahead is not. perhaps just mental health and financial well—being. —— perhaps not. kemal ahmed has and financial well—being. —— perhaps not. kemalahmed has a blog on this. that is on the bbc website explaining it further. shirley says "ltis explaining it further. shirley says "it's a good idea if they put it to good use. some will abuse it for drink or drugs." wow. perhaps some people will disagree with you. other people will disagree with you. other people are saying there should be

funds for the young, they need it most. perhaps guidance offered to help use it. yes. we will skip over the financial times. i'll want to talk about elon musk. this is bloomberg buying $10 million of tesla stocks after taunting shorts. it is an interesting week. last week he was asked by analysts covering the company to talk about how much cash they burn through. it is $1 billion worth of cash every three months. three out of the last four quarters they did. they have not made profit in 15 years. they were asked by analysts how they can keep

this up and make money. he said it was a stupid question. it is the most shorted stock. he has bought a lot and now has 20% of a stake. he is putting his money where his mouth is. he is trying to drive out shorts. it's the most shorted in the nyc. they have tried to raise money. the value of their bonds are falling. many people will not get their money back. he is going down swinging, certainly, buying $10 million of stock. his final appearance before walking down the aisle. that's it from me. thank you. goodbye. hello there. what a bank holiday weekend that turned out to be. in fact, a recordbreaker.

29 degrees. the warmest early may bank holiday weekend on record. and for the vast majority, there was a lot of sunshine. there were exceptions too. the western coastal fringe is seeing low cloud and mist and fog. temperatures, no better than 11 degrees. wherever you are, you can expect the temperatures to take a tumble in the next few days. we are swapping out the warm air with cool and fresh conditions from the atlantic. this is how we start off tuesday morning. temperatures in pretty decent shape for many. double digits in most places. and again, we will start off with some sunshine in eastern scotland, east wales, and potentially eastern portions of england. out west, cloudy skies, still some grey and murky conditions along the coast. and through the day, a band of rain from the west across northern ireland into scotland, north—west england, parts of wales, and the midlands, and ahead of that, just the odd shower and still some warmth. with temperatures up to 28 in the south—east. out west, temperatures beginning to take a tumble. and as we push this weakening rain band further eastwards through tuesday night we will all get into the cooler and fresher air from the west. a little ridge of high pressure just about building its way in to start wednesday.

so, not a bad start to the day. some fine weather, some spells of sunshine. out west, things already changing. thickening cloud for northern ireland and scotland. some rain. the further south and east you are, especially in england, staying dry and bright into the afternoon. temperatures even here a good few degrees down on where they have been. 20 degrees in london and maybejust 11 in belfast. we push that system eastwards wednesday night into thursday. it tries to build its way back in. so, thursday, not a bad looking day. decent spells of sunshine perhaps. a few showers blowing in towards the north—west perhaps. even given the strength of the sun at this time of year, temperatures will not be as impressive as they have been over the weekend. 13 to 17 degrees at best. and a similar story really on friday. a fine start. our next atlantic frontal system then pushing in from the west strengthening the winds and bringing outbreaks of rain. and sticking with that cooler, fresher feel. top temperatures on friday afternoon, 12 degrees in aberdeen, a high of 18 in london. that's all for now. top temperatures on friday

afternoon, 12 degrees in aberdeen, a high of 18 in london. hello, this is breakfast, with louise minchin and dan walker. time for an end to rip—off railfares. train companies promise a major review to make the uk's ticket system fairer and simpler. but why, for decades, has that proved so hard? i'll be looking at what it will take to get a better deal for passengers. good morning, it is tuesday 8 may.

also this morning: more pressure on the prime minister, as borisjohnson describes one of theresa may's favoured brexit policies as crazy. fountains of lava force thousands more people to flee from their homes after the volcanic eruption in hawaii.