with his german and french counterparts, but it's peppa pig who's walking away with a deal — us company hasbro's set to buy the british company who created her for $4 billion. keeping it with business and the financial times looks at how companies are coming under pressure to put rewards for society before rewards for shareholders. thejournal in ireland has a study on fake news — it asked people about events that never happened and found people were much more likely to falsely recall them as being true if they tied in with their own beliefs. and finally, the telegraph reports on downing street criticising comments made by a leading british news executive. it's after dorothy byrne said journalists were too scared to call politicians liars and cited boris johnson in her speech.

with me is mark davies, ceo at the strategy consultancy, camberton. thank you very much for coming in to go through some of these papers. interesting, the story, the brexit story. the brexit barometer of course, over this whole has been stolen, the value of the pound. whenever deal looks more likely, at the pound goes up, went so slack with the pad goes down. , has anything changed 7 with the pad goes down. , has anything changed? it is moved to 122, let's not forget it started this process at high one 405, 150, that's only your referendum to po55ible dish. people thought of going to bolivia with a deal and we have started going to bolivia with a deal and we have 5ta rted into going to bolivia with a deal and we have started into territory it went down to 120. the fact that it is moved to 122 is a small move but i wouldn't say it's terribly significant. a decibel locations. if there is no deal will probably end up

there is no deal will probably end up ataround there is no deal will probably end up at around 110. and selling asset5 will look extremely cheap. and thank you for providing a good link. this look5 you for providing a good link. this looks very expensive, on the face of it, a $4 billion deal to buy peppa pig, but you wonder how much this deal has brought out because of the power of the brand because it is company valuations a5 power of the brand because it is company valuations as you have pointed out a peer pretty cheap to international investors at the moment. if you buying in dollars into the sterling acid, this does look significantly cheaper, clearly did afew look significantly cheaper, clearly did a few weeks ago. it comes on the back of a recent deal with drinking which was bought by a foreign buyer, and clearly, there are other opportunities. that is the big pub chain. there will be opportunities to buy sterling assets if you're coming from abroad, property in london might take as well as a result because it will look cheap. that's interesting, also people looking at some of this and

thinking, i wonder whether or not a 31% premium on peppa pig is worth it? entertainment one owns peppa pig, it didn't created, it bought a 70% stake in turbo—mac itself a few yea rs 70% stake in turbo—mac itself a few years ago. so it is still offered as a music distributor and it went into this into damages division around the time that peppa pig was created, in fact, around 2004, what is interesting is that hasbro are now making the same job. they are to accompany a bed decided to make a big acquisition in whom media distribution. they're looking to see if they get the same pickup but entertainment one which for many yea rs, entertainment one which for many years, it was created around 1970, i think, for many years it was little company that drifted along, went into entertainment, ought peppa pig quite recently and now is achieving the sought evaluation which i should think its shareholders on the 31% premium on yesterday's close would be quite happy with. a stock but

what is going on in the financial times. an interesting story, it goes to the heart of what companies are really there to do. they have either if you can see, big companies are urged to declare social purpose as focus on shareholders. you might remember their lands a few weeks ago declaring that brands within the portfolio would have to learn —— and the social community value. that wonders how magnum fits into that, social utility to me, i'm not sure to the rest of the world. what you make of all this? our company is there to... is it shareholders or is it wider than that? its shareholders but the issue that you pick up on is that when they're talking about ra nts, that when they're talking about rants, than the customers and have massive act —— impact on shareholder

value and that's really what the investors are looking at here. there are businesses out there which need to show that they are therefore a social good because otherwise, customers won't buy the product they're selling. and they will miss out. this is the investors saying, you've got to have a social purpose but don't purpose well that the minute they have a social purpose in today's world, they are more likely today's world, they are more likely to sell more of their goods and therefore it is going to drive shareholder value. so i wouldn't really be too taken in by the fact that investors are suddenness and, oh, we, the shareholders, shareholders and investors obviously, same thing, we think you should have a higher purpose. because the day there shareholder value falls, there will be kicking and squealing about it. and the job of the director is to look after shareholders interests is all very well to come out with this kind of statement and they have plenty of businesses over the years we have

looked at corporate social responsibility, this isjust the next step on that. having been someone next step on that. having been someone in a business that was very fast going for a very long time. and controversial. it was controversial. let's just explain to the viewers around the world what business you are running. i was part of the founder team in the gambling space, we try it and the gambling industry on its head but i was responsible for the corporate and social responsibility side. i can tell you the battles ahead of my commercial director, who was looking at the numbers, were fairly significant over the years. and i think we struck bigger balance in most companies do but that's not be trite about, that was partly because we knew it would drive shareholder value in its jam. let's talk about the story. this is an island is the journal, a comment here of the big finding, large study of its kind carried out in ireland saying the people of 14 more likely district 14 times more likely to come they remember a fake story if it matches their own beliefs. all try to

substantiate our arguments with fa cts , substantiate our arguments with facts, it's now harder to separate fa ct facts, it's now harder to separate fact from fiction. what's interesting about this study is the —— and the way the story has been covered is a focus around —— because as around fake news and your reaction to that. the converse is just as true. that you react to real news in exactly the same way whether it reinforces your belief or not. so for use is the thing of the moment since donald trump has talked about it endlessly but the reality is that all our views of ash and anna believes in what is actually happening, what were being told, whether it is true, whether it is not true, is based on, to a large part, what we think in the vespers. there are long studies about this, if you want to really really good about the righteous mind isn't exactly this kind of study and works out or discusses what drives our belief and in today's political

world, brexit, every sickle blizzard will issue you want to think about, we have a situation where our own views are reinforced by what we see around us and we only allow the stories we find reinforce our views to enter our consciousness was not speaking of righteous minds, i don't know if you manage to see the full speech of dorothy burns delivery, to lecture up in edinburgh this weekend. she is the channel beheaded news and has defended the rights of journalistic will our politicians for telling lies. she called minister borisjohnson a coward for not granting news interviews, she also said he was a known layer competitive by the mayor putin insofar as publishing his own videos on social media and facebook stop she has said this sparked a debate and consternation from downing street, is it time for mainstream media to call politicians out and use the l word, if it is appropriate? i think it is but a

come back to the previous show that what constitutes a lie? if both johnson radio, right now, answering your questions, he would cite the unclogged events and said that he had been economical with the actuality somebody in his career. his well—known as a journalist with the pilatusjob his well—known as a journalist with the pilatus job because his well—known as a journalist with the pilatusjob because he fabricated a quote so she is on solid ground from a legal perspective when she describes him asa perspective when she describes him as a liar. she can show something that he has lied about. he lost his job in the shadow cabinet because he told untruths around an affair that he had. it is not that she said anything that she can't substantiate. it's a fact that he is the prime minister and downing street don't like it. they certainly don't, mark davis, thank you for your time today, really interesting discussion. plenty more coming up in the little moments time but next, the little moments time but next, the weather. hello there. just when we thought it was all over, it looks

like summer is set to return. temperatures rising across the country over the next few days, really hotting up in the south—east of england where we'll find the peak of the temperatures. the last time we had 30 degrees was back in the heatwave at the end of last month. no heatwave this time and at the moment, around this area of high pressure, we've still got some moist atlantic winds and that weather front bringing some rain in the far north of scotland. that moist atlantic wind means all this cloud that we start the day with and around some of these western hills may well be a bit damp and misty. that mist and drizzle will tend to lift and the cloud thin and that rain across northern scotland should clear the mainland and head up towards the northern isles. sunnier skies coming in across southern england, then across wales, the midlands, across lincolnshire and east anglia, giving those temperatures a boost, up to a high of 27 degrees or so in the south—east of england. further north, where we hang on to more cloud, those temperatures will be nearer 20 or 21 celsius. for the second day of the test match at headingley, it looks like it should be a dry day this time but for most of the day,

i think there'll be a lot of cloud around. cloud only really breaks up later on in the evening session. we've got the cloudier skies then and they will continue to push their way northwards, with the clearance coming in from the south. but we've still got a bit of rain threatening the far north—west of scotland, perhaps northern ireland as well. if we look at the temperatures by the time we get into the weekend and again, they're sitting at 14 or 15 degrees. but it continues to heat up during this weekend because we've got warmer air coming in around that area of high pressure, and pushing its way northwards. still, that weather front is hanging around in the north—west corner of the uk and it threatens to bring one or two more showers into the north—west of scotland for a while and perhaps even across westernmost parts of northern ireland. elsewhere across northern areas of the uk, there'll be more sunshine on saturday and we've got the sunnier skies further south still and that heat continuing to build its way northwards, maybe getting into the mid—205 in the central belt of scotland. 27, 28 with the midlands, east wales and 30 in the south—east of england. still the chance of the odd shower in the far north—west of scotland, a bit more cloud for northern ireland. temperatures are never going to be

as high here but sunny skies pretty much elsewhere, that warmth pushing its way further north into scotland and with the peak of the temperatures on sunday around the london area, 30 or 31 degrees. into the beginning of next week, there's some uncertainty. eventually, the weather is going to change. the really high temperatures are going to be stuck in the south—east on monday. there's the potential for some thunderstorms to come up from the near continent. it's rain from the north—west that's more likely, perhaps on tuesday.

good morning. welcome to breakfast with charlie stayt and naga munchetty. 0ur headlines today: labelled an international crisis, a record number of fires in the amazon rainforest prompts growing alarm among world leaders. more than 60 migrants were caught trying to cross the channel on thursday. the border force says it was one of their busiest days yet. a minute's silence for pc andrew harper who was killed in the line of duty last week — we're in his home town. i'm at bury market this morning. the epicentre of a town that could lose its football club today. we'll be hearing about the plight, and fight of bury fc.