to buy legendary italian fashion house versace for $2 billion. the sale would mark the end of independence for one of the most prominent stand—alone couture brands, amid a wave of consolidation within the industry. the gulf news focuses on rising brent crude oil prices, which are currently at a four—year high. the article goes on to say that prices could hit $90 a barrel by december and pass the $100 mark in early 2019. and finally, are you a stickler for current scrabble rules on acceptable words or are you not ok with popular informal language? scrabble players are calling for more american slang to be added to the dictionary to ease fears that the game is unpopular among the young. words like "twerk" and "ew" and "0k" are now being asked to be included. two letter words. you won't get much for that. with me is maike currie, who's investment director at fidelity personal investing.

maike, let us get stuck in. for obvious reasons, arab news today is deciding to focus on russia and it talks about russia supplying the assad regime's sophisticated 5—300 air defence missile systems. this is air defence missile systems. this is a worrying development. it has big implications for many countries surrounding area in that region in the middle east. it is a step back in terms of stability in the region. the back story to why rutter says it is doing this is that last year syrian forces shut down russian military aircraft, killing 15 people in the accra. russia said by equipping cirio with the air missile systems they could call hotheads. the us has pushed back, saying this is not good in terms of stability in the region. they have said they will not be leaving syria as long as you run is involved. lots of question

marks iran. this incident that happened last week, it was culturally fire. syrian forces academics shooting down a russian reconnaissance military aircraft. libyan people kill. these things happening around this area. it is quite often. and it often goes unreported —— 15 people killed. russia is accusing israeli aircraft are pushing the plane into syrian territory and that is why it was shot down. it does nothing for stability in the region, a lot of angles to the story. we'll keep an eye on that front page of the arab news. this story, point american groups with a $50 billion global dealmaking spree. we were leading yesterday with the comcast deal which was brokered over the weekend, sky telling its shareholders to go

for this comcast deal. there has been a lot going on. absolutely. since the financial crisis companies have battened down the hatches, they have battened down the hatches, they have stockpiled cash. bigas debt is cheap stock prices have escalated. there is a lot more confidence in the bottom —— because debt is cheap. in the first half of 2018 we have seen 17,000 deals made. that is a record for the last decade. it is from the comcast sky deal, a massive acquisition, tidby mining sector, to the luxury industry. so across the board —— tedi mining industry. tomorrow interest rates may go up in the us and it becomes more expensive. as well we are seeing the american companies on the march, as it were. lots of european countries getting snapped up. for american companies, big american companies, they have massively benefited from they have massively benefited from the trumpet —— donald trump tax

reforms. they see this as a golden opportunity to look at what is going on in europe and what is looking attractive. that is right. the tax reforms that were brought in in december have given us companies a bit of a sugar rush, really. they have to pay less in tax and that has given their profits a boost. if you look at the price to earnings ratio that means the earnings bid is going up that means the earnings bid is going up at that means the earnings bid is going upata that means the earnings bid is going up at a time when other stock markets have gone up but the us is leading the pack. it can acquire some rivals and build out its empire. this leads us on to the new york times story. michael kors, the american fashion brand, nearing a deal to purchase versace. the new york times says this is in a challenge to european luxury groups, they are getting snapped up. this is just the latest example. right. last yearin just the latest example. right. last year in 2017 they boughtjimmy choo. a loss of luxury companies buying more brands. —— a lot of. we saw it

richmond buying several groups. is this a good fit? michael kors is quite conservative, run of the mill, versa ce quite conservative, run of the mill, versace is flamboyant italian design. the question is whether it will fit with the brand. we actually saw michael kors shares dive on the news of the acquisition. it is quite a big step for michael kors. it is a big, bold move, whether it will work 01’ big, bold move, whether it will work or not is another matter. that is an interesting story in the new york times. now, the price of oil. we we re times. now, the price of oil. we were obsessed with it last year, because it was tanking. a real problem for many big economies around the world and companies. now it isa around the world and companies. now it is a 1—way bet. we have had brent crude playing around the $80 a barrel mark. now this article in gulf news, we are looking at $100 a barrel in the new year. the big question as to whether we will see

triple digits in oil prices. 0pec has said it will not increase supply because of the sanctions from the us against iran reducing by sobral. the problem with a high oil price is that it problem with a high oil price is thatitis problem with a high oil price is that it is the consumer. when we go to the petrol—bombs everything becomes more expensive in economies like the uk —— hopes the consumer. especially in emerging economies, not all of them are exporting countries. india imports about 80% of its oil. that sucks weighing on global growth, at a time when there isa global growth, at a time when there is a lot of uncertainty. —— that sta rts is a lot of uncertainty. —— that starts weighing on. it is one to keep a close eye on. we have the federal reserve meeting today and tomorrow. it is expected to raise interest rates tomorrow. there is concern, the rising cost of energy at the pump, but also for economies,

but also households with energy prices headed upwards. the inflationary pressure that could have any mix of everything else. it isa have any mix of everything else. it is a difficult one. absolutely. we are seeing interest rates going up. if the oil price pushes up prices and we see a flareup in inflation, those rate rises are going to happen much quicker. that puts even more pressure on the consumer. if there is anything that can derail the current bull market, the recovering economy, it is inflation, it is the rising oil price, and it is the risk that interest rates go up too quickly. all right. the final story, are you wait scrabble player?” quickly. all right. the final story, are you wait scrabble player? i am. i love it. what is your best word? goodness, an encyclopaedia.” i love it. what is your best word? goodness, an encyclopaedia. i have not played it for years. although i enjoy the game, it is a great game. british scrabble players want new letters from america, new words, should i say, to be allowed to avoid what is called a beat down. so one

of is emoji. you get a score of 44 emoji. there are some with 20 points. for some it would be cheating for me. it is interesting. the purists might argue this is dumbing down the game of scrabble, but language evolves and you would get added to the dictionary and scrabble is based on the dictionary so maybe it needs to evolve. people who are docile, compliance...” don't one half these words.” who are docile, compliance...” don't one half these words. i know. ifi don't one half these words. i know. if i was playing with someone who knew these words i would lose. it would be a major disaster. the other thing as well, maike, we are discussing today, is scamming, this issue in the uk in the first half of this year half £1 billion has been lost because of fraud and the issue of being scammed. it has happened to me, actually, during the summer

months. as it happened to you?m has not happened to me before. but something we talk about a lot are pension fraudsters. people who phone are people who are about to receive their pension and scan them out of their pension and scan them out of their entire life savings, their pension pot they have been accumulating nannies to provide them an income in retirement. —— accumulating to provide them. an income in retirement. —— accumulating to provide themm an income in retirement. —— accumulating to provide them. it is massive. it is a massive issue with banks. it is a massive issue for financial services overall. there is a big education piece that needs to happen. maike, thank you so much. good do have you for the briefing. thank you for your company. a lot of you have send your scamming stories. have a look at the briefing to see that. i will season. have a look at the briefing to see that. iwill season. goodbye. hello. for a time this week, temperatures will be on the rise. not just yet.

it's a cold night for much of england and wales, under clearer skies. meanwhile, this stream of cloud in the atlantic continuing to extend across parts of northern ireland, northern and western scotland, strengthening the winds through tuesday and also bringing outbreaks of rain. but away from the far north and west, after a cold start, there will be plenty of sunshine. some early—morning mist and fog to clear. that will soon lift, and then for much of england and wales, plenty of sunshine to be found. just light winds, and very little cloud, even into the afternoon. somewhat different further north and west, more on that injust a moment. here's a closer look at a:00pm on tuesday afternoon. as you can see, lots of sunshine, very little cloud, temperatures generally across england and wales between 15 and 17 celsius. but notice how our wind symbols are turning to black. this is indicating the strength of the gusts across northern ireland, western and northern scotland through the afternoon. quite widely a0 to 50 mph, with outbreaks of rain pushing their way eastwards. perhaps dryer across the far east of scotland, with some sunshine, but still a windy day here, and temperatures not much higher than 13 or 1a celsius. and it's this area, really,

from northern ireland, northern and western scotland, which will keep further outbreaks of rain and some strong winds into tuesday night and through into wednesday morning. eventually, some of that rain just sinking its way further south and eastwards into the far north of england. ahead of this, not quite as cold a night, but some rural parts of southern england perhaps getting down to two or three celsius. through the middle part of the week, we've still got high pressure across much of england and wales. there's fronts still to the north and the west bringing strong winds and outbreaks of rain, again slowly starting to sink its way south and eastwards. so a bit more cloud, with the odd spot of rain across northern england, maybe the far north of wales. still quite cloudy for northern ireland. the lion's share of the rain across scotland, and still quite windy here. these are average speeds, gusts will be higher. holding onto the dry, sunny weather across southern and eastern parts of england and wales, where temperatures on wednesday could get up to around 20 or 21 celsius. and that front continues to make its progress south and eastwards through wednesday and into thursday. as it runs into our area of high pressure, all that becomes left on it isjust a band of cloud. but what it will do later in the week is slowly start

to replace the warmth that we found for a time across england and wales with something much cooler further north and west. so some changes to come through this week. some warmth for a time through wednesday and thursday, but slowly being replaced with something cooler and fresher, but mainly dry by the weekend. bye— bye. good morning. welcome to breakfast with louise minchin and dan walker. 0ur headlines today: a crucial vote for labour on brexit. the party decides whether to keep a second referendum on the table. theresa may strikes a deal with her cabinet on immigration. ministers agree there'll be no special treatment for eu citizens after the uk leaves. unsafe and illegal. we hear about a huge rise in seizures of counterfeit goods. three paralysed patients walk again with the help of a revolutionary electrical implant. tv on demand.

from today, television programme ratings will be broken down to show exactly how many people watch on modern devices, as well as traditional sets.