sovereign wealth fund had expressed repeated interest in funding a deal to take the electric car company private. his comments come as the us securities and exchange commission was investigating whether mr musk‘s original tweet on the matter was accurate. on the bbc news website, vienna has been named the world's most liveable city. the austrian capital beat melbourne for the top spot, as well as being the first time a european city has topped the rankings. and, finally, they've been called the ugliest shoes ever made while millions of others love them for their comfort. now the makers of crocs, the foam clog shoe, have announced they're closing their final factory, although the brand denies that it's the end of their famous holey footwear. so let's begin. with me is james hughes, chief market analyst at axi trader, a brokerage firm. we will get onto crocs soon, all of oui’ we will get onto crocs soon, all of our kids wear them. let's start with turkey, it's been a story over the last few days, particularly friday

and yesterday. my main fear, we discussed it earlier, it's interesting for european viewers and those worldwide, the contagion, the impact of the problems in turkey will have on banks across the world, particularly in europe. of course. the issue with the banks, we have these few banks which are a bit more exposed than other banks, but there's a fear of contagion. it's a self—fulfilling prophecy in a way. it's not always driven by the fa ct way. it's not always driven by the fact some economies are the same as others. we look at turkey and say there's a risk of emerging market contagion. the fear these other economies are in a similar situation to turkey isn't necessarily one which is wholly founded, turkey's very different as an economy. it's a very different as an economy. it's a very particular economy and political situation? politically it's very different. but when we talk about the

contagion, it's driven by speculators. when you see the downside in the currency and the negativity, you getjitters across financial markets and nervousness gci’oss financial markets and nervousness across financial markets, that spreads and sparks selling in other currencies, like what we've seen with the south african rand and there's a whole range of other emerging market currencies that are struggling. that's driven by speculators and not necessarily by the fact that the economy in south africa, for example, is the same as the economy in turkey. it's a very different thing and we see the same thing not just with different thing and we see the same thing notjust with the currencies but with the banking stocks. a story connected with this in the new york times is a story on sanctions by the west, spoiling's putin's big parade —— spoiling putin's big parade —— spoiling putin's big parade —— spoiling putin's big parade. in light of what's happening between turkey and the us and the war of words, vladimir putin says here... vintage putin, showcasing a seizure of any

opportunity to divide the west. he's taking advantage of the situation in turkey, it accuses him of, but the ruble has its own issues thanks to sanctions on russia. they were imposed on the us and europe as well as other areas of the world on moscow and russia in general. the russian economy really struggles. you would expect the likes of the russian economy to be enormous when you look at the size of the country and the power it has got, but in terms of financial power, the russian economy is similar size to the likes of italy. when you look at what vladimir putin is doing, he's almost cosying up to the turkish politicians and saying, well, look, you're having similar issues with the us as we are, we can help you. but the stark reality is, there's no way russia can have the financial power to help turkey as much as the us can but both have these sanctions and the sanctions are causing issues

in russia. what the story is saying, and it's really hitting vladimir putin's popularity in russia. has there ever been a time when politics and economics have been more intertwined? normally the markets ignore anything political, but at the moment... they can't. donald trump in the white house, vladimir putin, with everything that's going on, this is the most politically driven market i've ever experienced in my career. let's talk about this story in the independent, firms are struggling to recruit as net eu migration falls. we're talking about shortages in a number of sectors in the uk, including it, transport, construction but also health, social care, hospitality, they're having problems recruiting. what's going on, what are they saying? the fall in net migration means there's less people for a number of these differentjobs. but at people for a number of these different jobs. but at the people for a number of these differentjobs. but at the same time as saying net migration is an issue

with the number of people coming in falling, thejobs aren't with the number of people coming in falling, the jobs aren't being filled, but in the same breath the story goes on to say as well as that there's stagnant wage growth. story goes on to say as well as that there's stagnant wage growthm that a factor? most definitely it can bea that a factor? most definitely it can be a factor. the back wages aren't moving in certain industries, they are worse than others, but wages aren't moving higher —— the fa ct. wages aren't moving higher —— the fact. there's a lot of people who are trying to get these jobs or having to work differentjobs or two jobs or a number of differentjobs to make ends meet, which means certain jobs to make ends meet, which means certainjobs which are to make ends meet, which means certain jobs which are in these areas we're talking about are necessarily being filled. there's lots of issues going on here which almost tie into the same story. it also talks about the fact employees are now having to boost salaries to find the right staff, is that a good thing for the economy? if you look at how the economy is going in the uk, the one thing the bank of england and the government

would want to see higher would be wages. if wage growth continues to outstrip inflation, which it is doing for the first time in a long time, it makes life easier for the bank of england to raise interest rates and put debt payments higher, and if that happens the country earns more money but that also means wages have to be higher. in the city, is there a huge amount of eu workers working there, is it very reliant, the financial market? i wouldn't say reliant, but in the city of london there's a huge amount of eu workers in... you have to remember, lots of these big banks and big companies in the uk we think oui’ and big companies in the uk we think our big uk companies aren't really from the uk, lots are headquartered in different european cities. there's lots of change, people moving from different countries to work in the uk. let's talk about elon musk, the financial times story, he's now trying to justify his original tweet. talk us through what's happened. last week elon musk a tweeted he

wa nts to ta ke last week elon musk a tweeted he wants to take his company, tesla, private, that's what he said. there's two sides to this, as a ceo ofa there's two sides to this, as a ceo of a company he has to be very down the line with what he says. from a legal point of view he has to mean exactly what he says. sounds a bit strange, i know. the sec and the us are are looking into what he said. what's key is where the investment is coming from. saudi arabia, the saudi arabian investment fund which was looking to raise money from the ipo or part ipo of saudi ramco, which it obviously owns, they're not now making that money. there's question over how much investment this saudi arabia investment fund can do but the key thing they're looking to do is invest outside the oil industry in saudi arabia. with tesla, of course completely away from that industry. there's a lot going on in here, there's a long way

to go. elon musk doesn't care what he says and when he says it. kind of like you in that sense. absolutely. let's talk about vienna, the first timea let's talk about vienna, the first time a european city has been ranked the most liveable. we've been asking people at home to tell us what makes any city liveable, what about you? food, if you can get good food in any place, that's number one for me. you're a political —— political and social stability, is that important to you? not if the food is good. crime? are we talking about the number of fast food places available? manchester saw the biggest improvement of any european city, rising 16 places to get to 35 and its ahead of london in the rankings. australia has been top, melbourne, has been top for a long time and it's been booted off by vienna. i've been to vienna and it is beautiful, stunning. crocs, are you a fan?

unlike vienna, stunning, crocs are not. they are announcing their closing the last factory but crocs will still exist, what is the story in a0 seconds? their closing their last factory but it's not going to be the end for crocs -- it's not going to be the end for crocs —— they are. how can you have no factories and stay on? there are many other producers of crocs which aren't necessarily crocs which will still produce these horrendous things. what's your favourite colour?|j produce these horrendous things. what's your favourite colour? i like the one in the picture. flowers on and pink and fluffy. i think they would suit your lovely little feet. james, thank you for talking to us. james, thank you for talking to us. james hughes there. thanks for watching. bye—bye from me. hello there. it doesn't look like the widespread, hot, sunny weather will return soon, but there will be some warmth in the forecast, particularly across england and wales throughout this week. something a little bit cooler, though, at the end of the week. we start this morning on a warm

note across central, southern and eastern parts of the country, but always more cloud across the west. but, even so, still double—figure values here as well. so, for tuesday itself, always more cloud across the north and west of the country, that's because of a brisk westerly wind feeding in this moist air off the atlantic. so the best of the dry and bright weather will be in the south and east. we could see the odd heavy shower in the afternoon. to the north and the west, more of a breeze, 17—20 degrees. to the south and east, 24—25, and it will be fairly humid again as well. on into tuesday evening, it will be a dry one for england and wales, eastern scotland. more cloud, though, in the north—west. the reason for more cloud in the north—west, as i mentioned, we've got our weather coming from the atlantic. into wednesday, this area of low pressure will make inroads to create an unsettled day across the north—west corner. more cloud, outbreaks of rain for north—west scotland and northern ireland, perhaps north—west england, and into north—west wales, and with the best of the dry and bright weather in the south

and the east corner. the wind arrows are on because it will be a blustery day wherever you are, and certainly in the north—west with the cloud and the rain. that will impact the temperatures, 15—22 degrees. we could make 25, 26, even 27 in the south—east. but then it changes as we head into thursday. that area of low pressure pushes its way south—eastwards. it pushes the cold front across the country as well. it could be quite a wet morning across england and wales, as that band of rain makes its way southwards and eastwards, tending to fizzle out as it does so. but eventually it will clear away, and then behind it will leave cooler and fresher conditions with sunshine and some showers. most of these in the north—west. temperatures ranging between 14—21 degrees — so it will be noticeably cooler across—the—board. and then we see another area of low pressure move in on friday, particularly across the north—west of the country. once again, it will be windy.

in fact, we could see gales in exposure across the far north—west. outbreaks of persistent, maybe heavy, rain here. the further south and east that you come, the drier and brighter it will tend to be, closer to high pressure in the near continent. again, we will see the split in temperatures — high—teens in the north—west, low 20s in the south—east. so, the week is starting on a warm note in england and wales. as low pressure moves through, it will send some cooler and fresher air right across the board. good morning, welcome to breakfast with louis minchin and dan walker. our headlines today: a warning on pension scams. millions of pounds were stolen last year, with victims losing £91,000 on average. the issue is thought to be much bigger than just the cases reported, so a campaign has been launched to warn those planning their retirement. i'll be looking at how big the problem could be. a promise of more power for social housing tenna nts, as ministers launch a new deal for renters in england. labour calls the plans "pitiful", with no new money for houses. e—cigarettes may be more harmful than previously thought, according to new research.