with me is geraint anderson who is a former city of london stock broker and author of city boy, of which he is also known as a columnist. let's start with the tax you could hold of the huge amounts of money that the likes of facebook and google and amazon and the like are making out of non—american companies. it is all coming together. it has been a long—standing problem for these digital web—based companies and they haven't got much infrastructure in oui’ haven't got much infrastructure in our country. they generally have headquarters in places that are somewhere like dublin with local fresh and tax rates and we don't see much if any of the tax revenues. for cbr earning hundreds of millions so it's a bit of a scandal. the only problem with what is going on here is that it will look like a direct

attack on american large companies like google, like those amazon and so like google, like those amazon and so forth, you do worry that this is going to start some kind of trade war because it does seem quite apparent that president trump isn't averse to putting up tariffs if he feels in any way a tax like that.” think that made the point of, do that and it will be tariff. there will be a price to pay. the other point being made by these european countries is that they would like to see a global approach, but it is proving desperately difficult, understandably, to get anywhere near one. global cooperation, anything like this especially if america is involved will be probable —— will be problematic. uk and france have gone it alone and they have said, companies that have got over a certain amount of revenue, globally, they are the ones they are targeting, they similarly are going to get two or 3% of the revenue

associated with, in this case of france it is 3%, 2% and in that, as a lot of money. £400 million coming oui’ a lot of money. £400 million coming our way by 2022. it's about time this happened, it's a great thing to happen but i'm slightly worried that the world is getting more tariffs and trade was, that could be another nail in the coffin. only sat there worried or stop itjust feels inevitable, doesn't it? let's move on to an interesting story, the wall streetjournal picking up on what amazon is doing about retraining a third of its workforce. it is not just amazon, lots of other companies are beginning to do the same thing stop i suppose it is on two levels, isn't it? they got to do it because the skills... the robots are coming. the rebels are coming but there's becoming a skills shortage as well. a third of the us workforce, hundred

thousand employees, the cynical part of me is saying that don't head of amazon, he is not charity, his profit driven. share prices in response to this, what they will do in response to this, this is a major investment and they don't have to state amazon, they could actually move elsewhere and they could be seemingly retrained things that aren't necessarily associated when we think about amazon. you're not going to fall for the idea that reskilling can boost employ morale, can keep workers from leaving the company? there are other soft issues andi company? there are other soft issues and i think, as i say, shares are driven by quarterly profits. this certainly in the near term you would think would have a negative impact on that so i'm all for it, it's an amazing commitment by a huge company, but the cynical side of me does wonder, exactly how that will benefit. do you think there's

anything, it was referenced within the wall streetjournal, this is a company with more than 630,000 employees full—time and part—time and this is away of softening the truth which is going to be a massive off fairly soon. that could be may be answering my point about the cynical thing. ab this is as you say, it's going to soften the blow. still, it is a poverty — a positive and it's something you don't hear very often from wall street companies which are pretty ruthless. we were asking today whether people, if they would like to be rescued, what they would be rescaled as was if you got that opportunity, it's got to be worth taking. here's a story you might be pleased about. your track record would suggest, uk banks prepared for brexit. and trade will fall out, it's not something we've had a lot being said about

stop you as it is a positive, interesting the way that the bank of england has laid out the sort of levels of re pa i red england has laid out the sort of levels of repaired nurse for the worst eventuality. they have obvious image of the axle got sufficient capital to deal with some serious shocks and the worst case scenario their dog about is the econometric in 4.796, their dog about is the econometric in 4.7%, employment by the doubling to 9.5%, and property prices falling by 33%, this is great news, the banks are prepared. if the bank is lapping it on the back and saying they've got to —— we've done a good job but part of he goes, oh dear, this is a potential outcome for brexit and trade was, the nodal brexit. it's great news that our bank still prepared but on the other hand the scenarios are envisaging cycles were considered. the other hand is the bank saying the levels of investment in markets dropping

significantly, commercial property less tha n significantly, commercial property less than two fifths of average levels. the concept of this project is now becoming, it is occurring, this product is now reality. the point is that we were the fastest—growing country in the g7 just for the referendum vote, when other slowest. there were some economists out there saying technically, we have entered a recession. this will be proven about what would happen about the third quarter of this year. it looks a clear beginning to really feel an impactand clear beginning to really feel an impact and it's no longerjust hypothetical. it is a slight concern there. but good to know the banks are getting their house in order ready for it. clutching at straws. yes, quite. for bankers. this is an interesting story, it is

entertaining in itself, the idea that inmates are in charge of the key to their own cells, they can do what they wanted they behave better. it seems rather late in the day due to say that there is no evidence that shows that they behave, they respond better to be treated like human beings. it is notjust the stick that's required to keep people in mind. anyone with young children know that it's more the carrots and incentives stop the daily mail readers will be going at those headlines about having the keys to your own cell and it will be done in a controlled way, i suspect, said the article. sex offenders are far more relaxed group in prison than gang members which i can imagine is true. so a lot of responsibility on governors in prison to work this out themselves or stop exactly, and the fa ct of themselves or stop exactly, and the fact of the matter is that there are record numbers of assaults towards

wardens or gods. it is outrageous. it is sharply up, that is massively up. the point is that yes, as all management theory books will tell you, you don't just management theory books will tell you, you don'tjust have sticks, you have carrots. there is a problem with drugs in prison, so my concern that i got for reading about this is that i got for reading about this is that if you can lock the door and do drugs, that is going to slap there be an issue. it's an interesting story, here is a great server. if you are english and you love cricket, or welsh, you are english and you love cricket, orwelsh, indeed. you are english and you love cricket, or welsh, indeed. that's right, it is the english and welsh cricket board so they have on bass players and everyone talks about the england team is a proud bushman i wa nt to england team is a proud bushman i want to make it absolutely clear that they can be welsh players in their and they have had at least 15 over the last 80 or so years stop you cannot deflect from the story, please for stopping and in the final of the world cup, they haven't been there for 27 they've never wonder

then, and there is a point that they are going to make it free to add because audience is rigidly tiny. this seems to be an element that cricket is in decline. there is less interest in it since it stopped being on bbc one. the fact that putting the final on non— pay—tv is brilliant and you saw what happened to the women's foot all, everyone's got so invigorated by that, it's great. the fact that that has happened, it's really commendable and the factors that sunday is going to be very interesting day here, we got the men's wimbledon single final, got the grand prix, and have got the cricket, it's going to be one hell of a day. thank you very much indeed for that, england still have to win, of course was up to stay with us

hello. thursday brought us a warm and humid day across many parts of the country, but we also had some heavy showers and some thunderstorms, too. friday won't be quite as warm or quite as humid, there'll be a mix of sunny spells and just a few showers around, mainly across eastern england and eastern scotland, too. but many of us will avoid the showers. so we've got an area of low pressure which is pushing off towards the east. higher pressure waiting out in the west and that will dominate more as we head on through the weekend. so friday morning, then, a reasonably dry start to the day, dry in most places. more cloud for northern ireland and the north—west of scotland will bring a few spots of drizzly ran, a bit mistiness — particularly around the coasts, too. the bulk of england, wales, and southern scotland should be dry with some sunshine. but there'll be some afternoon showers bubbling up anywhere from east anglia and lincolnshire through north—east england, towards eastern scotland, too. in the sunnier spells, top temperatures will reach around 25 degrees down towards the south—east. just a small chance of, perhaps, catching a passing shower at wimbledon. but in general, for the final three days of the championships, we're expecting a lot of dry, settled weather with some sunshine.

not quite as hot and humid for the players or the spectators =— certainly compared to the past couple of days. but we couldn'tjust rule out one or two passing showers at wimbledon during friday afternoon or saturday afternoon. as we head through friday night into the early hours of saturday a lot of dry settled weather, once again, with some clear spells. the overnight temperatures will be a little bit lower than recent nights. so not quite as warm and humid as we start off the weekend. through the day on saturday, still the chance of one or two showers lingering, particularly in the east. but this area of high pressure is going to be building in from the west as we move through saturday and on into sunday. bit of a change in wind direction. we've had the winds coming in from more of a westerly direction. but on into saturday the winds turn more north or north—westerly, bringing a few spots of rain initially to the north—west of scotland and then its parts of eastern scotland, north—east england, down the spine of england that we'll start to see a few isolated showers cropping up. most places will avoid them. some long spells of sunshine and temperatures 17—23 degrees. not quite as hot or as humid as it has over recent days. heading on into sunday, as high pressure builds it's looking

largely dry and settled. not many showers around at all. a little cooler with the breeze coming in off the sea around the east coast. the warmest of the weather probably towards the south—west. top temperatures there in cardiff around 25 degrees. just the odd chance of a passing shower but most places will avoid them. and then it stays largely dry and settled into the start of the new working week. a chance of things turning more unsettled with further showers cropping up during the middle part of the week. that's it for now. bye— bye.

good morning. welcome to breakfast with charlie stayt and steph mcgovern. 0ur headlines today: america says it's putting together a coalition to protect commercial shipping in the gulf — after the royal navy had to intervene to protect a british tanker. a position of service not power — theresa may's new assessment of the job of prime minister as the two contenders to replace her prepare for their next tv appearance. hurricane strength winds and heavy rains threaten new orleans — parts of the city have been evacuated as the storm approaches. how to enjoy the cheapest holiday. the value of the pound drops against the dollar and the euro.