' sident erdogan is meeting his prime is to for the first time since their ruling ak party's failure to hold the parliamentary party. it has been one year to the day since the islamic state took the islamic city of -- the iraqi city of mozilla. one militant -- one million residents -- the iraqi city of mozulsul. one million residents are still there.

coming up this hour in business, banking giant hsbc lays out its new strategy. job cuts are set to reach up to 25,000. and apple steps into the music more fray, unveiling its long-awaited streaming service. that and more on the way but first, our top story. genie: first turkey's ruling ak party is starting to look for coalition partners, this after it lost its parliamentary majority for the first time since coming to power in 2002. it came in first place in sunday's election, but it needs to try to persuade any of the three opposition parties to bring theim to the ak party for a majority.

no one has excepted, but negotiations have just gun. for more i am joint -- have just begun. i'm joined by jasper mortimer. are we any further than we are yesterday on coalition talks where we were basically nowhere? jasper: we have progressed a little bit. yesterday, all the opposition parties, when asked about forming a coalition with the remain -- with the willing party said no way. today the two biggest opposition parties, the chp and the mhp have said they are open to a coalition with anyone who respects the main elements of their election platform. and, interestingly, both parties have three points in common there. first of all, they want president erdogan to be a -- he brazenly campaigned for the ak party.

secondly, they want no executive presidenciy proposals in the new government. that was also very dear to the heart of erdogan. thirdly, they want no corrupt mp 's having any role in government. where they differ is that the mhp has called for an end to the kurdish peace process and the chp would not support that. the chp has also called for increased pensions, increased minimum wage, and reducing the 10% election threshold for parliament. i think the mhp would support that. however, the main thing is there have been no official meetings among the parties yet. only private ones. so we are still in the early stages of coalition building. genie: jasper, the aftermath of this election has a lot of people nervous, not least of whom those in the international community. tell us about that. jasper: turkey is under

pressure. president barack obama has said thousands of foreign fighters are crossing into syria from turkey to fight for isis. he said quite clearly that turkey has to ramp up its border security to stop that. also, on the economic front yesterday, as soon as the election results hit the markets, the turkish lira fell 5%. the central bank intervened and managed to push it up somewhat. istanbul's stock exchange index fell 8%, and the economy is already in bad shape. this is why the ak party fared badly in the elections. the messages the politicians must get their act together and hurry up and form a government. genie: jasper, thanks for that. jasper mortimer reporting for us. now to a dark anniversary for iraq today. exactly one year ago, the islamic state group launched a

brutally effective offensive, taking the city of mosul in just one day. since then, the isis has overrun a third of the country declaring it and neighboring areas of see if -- of syria a caliphate, carrying out executions and enslavement and rape. kate moody has more. kate: much about the islamic state organization remains unknown. virtually a terror cell loyal to al qaeda, the isp became an entity in january of 20 -- the is group became an entity in january 2014. in june they captured mosul and dozens of other towns, sparking international concern. it was named the islamic state. with vast recruitment and a

strong social media presence the organization is thought to have between 30000 and 50,000 fighters hailing from 100 countries. the numbers are difficult to verify. including doctors, teachers, farmers, and women, all recruits who want to serve jihad. they have captured much of syria and western iraq in the last year. despite western airstrikes, the militants can use catch -- can move freely. fighting continues as they try to further expand their reach. at the beginning of 2015 the is organization put out a budget for its territory. according to iraq the authorities, funding for the private donors in gulf states. the organization claims to have set up functioning at hospitals

and schools in the areas he controls. it helps to do the same across the middle east and ultimately establish a global caliphate. genie: earlier today, we spoke to our correspondent in baghdad who gave us an update on what the situation is like in mosul for those who have stayed. >> a very situation. prices for basic needs are going up a by day. atrocities as the islamic state militants continue. two days ago they executed a member of the iraqi security forces in public. as they do with ex politicians and x candidates for election. the civilians stuck in mosul are in a very bad situation. it is not any better for civilians who fled to the city of mosul. millions fled to mosul for fear of the isis and their ethnic

cleansing. genie: british prime minister david cameron got himself in hot water over europe at the g7 summit in germany. cameron has been pushing a policy of renegotiating britain's ties with eu ahead of an in-out referendum on eu membership. at the summit he seems to issue an ultimatum to his own ministers over the eu, only to swiftly withdraw it, saying he had been misunderstood. >> you have to take the view that we are engaged in an exercise of a negotiation that will have a referendum that will lead to a successful outcome. that is what i said. i feel that it was a misinterpretation. i said i would repeat what i said and make that very clear. but i think there is real unity behind a renegotiate and referendum strategy. genie: that is david cameron speaking at the g7 summit.

in germany. that summit was also dominated by a new pledge to fight climate change. world leaders came out saying they are giving themselves 85 years to win their economies off carbon fuels through that is a shift so dramatic, one dramatic -- one analyst says it is as big a challenge as putting a man on the moon. nicholas rushworth has more on the hurdles ahead. nicolas: g7 leaders say they want to be carbonized the world economy, meaning that scenes like these -- pollution spewing into the atmosphere -- should be a part of the ancient past, a time when oil was -- when cole was king. it means cutting 30 billion tons of co2 emissions from fossil fuels, and a panel on climate change is energy production currently accounts about 26% of greenhouse gas emissions. transported around a 13% industry, up 20%.

of major importance will be how the world produces electricity. currently, two thirds comes from oil and gas. scaling back renewables could result in more taxes and setting a carbon price. that is contentious in many countries. politically. organizing transport will be a major headache. electric cars look like the future but oil will still dominate in aviation and shipping for some time. in industry, fossil fuels generate the heat needed for steel production. at this point there is no feasible alternative to that. it is no surprise that many scientists say a 100% phaseout stated by g7 leaders is an realistic -- is unrealistic. recent climate conferences have shown countries are at loggerheads about what to do and when. genie: in kiev, several

firefighters have been hurt or killed in a powerful exposure linked to a massive fire there. the firefighters were trying to troll the blaze at a fuel -- to control the blaze at a fuel depot. it broke out at one gas tank at the depot and then spread out to at least 16 tanks in all. authorities in south korea say a seventh person has now died from the middle east respiratory virus, or mers. at least 95 people have contracted that virus in the past three weeks, and thousands more have been quarantined. the president is urging calm as the government provides to -- if the government moves to end the crisis in a week. our correspondent has more. >> as fears grow that the mers virus will spread, this elementary school in seoul is taking no risks.

>> the school requires students to wear masks whenever they go to school and go back home. we check their temperatures and that of visitors. >> a group of chinese students were expected to visit this month, but chinese authorities canceled the trip because of concerns for their health. in the capital, attendance at cinemas and sporting events has declined, with some normally busy streets now deserted. up to 100,000 chinese tourists are expected to cancel their trips this month, but those who are already there are not letting fear of infection ruin their trips. >> i arrived two days ago. i had heard about the virus and was a little worried. i am just wearing a facemask to feel better. genie: the world health organization has sent a team to south korea to work with doctors on prevention and control, as well as to analyze the virus. over 2200 schools have been

closed as a precaution. as the government's ouster step up efforts to fight the disease. nevertheless, some countries are taking no risk. hong kong says it will issue a red alert warning against nonessential travel to south korea. genie: apple is unveiling its long-awaited music streaming service today. that service will offer monthly subscriptions for $10 in the u.s., 10 pounds in the u.k., and it helps to take on industry leader spotify in the process. >> ♪ the same law beats once ♪ >> a new frontier for one of the biggest tech companies. after years of watching spotify dominate the streaming market, apple has decided to compete. >> i know you are going to love it. it will change the way you experience music forever. >> the new app combines streaming alongside a free 24 hour internet radio station

playlists, and a new service for artists to share unreleased tracks and other material. canadian rapper drake was on board for the launch. >> this is something that simplifies everything for the modern musician like myself and the modern music consumer like you. >> apple music was built by the beat music service, a company it supports -- the app will launch in 100 countries later this month. it poses a realistic threat to intercede leader spotify. -- to industry leader spotify. >> as a music fan, one of my biggest rights is finding new music. so it hopefully will give me the opportunity to discover new artists and keep that playlist moving. >> other services provided, google and fees a, without to

chip away at the subscribers. apple expects to reach that figure in under a year. genie: let's take a look at top stories. the turkish president is due to meet his prime it is to for the first time since the ak party fails to hold the party majority facing a coalition or snap elections. it has been one year to the day since the islamic state group took the city of mosul. one million residents there are under the militants' rule. as a seventh person dies from and the rs in south korea -- from mers in south korea, the government believes the worst is over. delon a desousa is on the set. you are starting with the news of a major strategy overhaul for hsbc. dark of the british banking

giant announced it was axing 25,000 jobs. it plans on saving $5 billion in the next two years. chief executive stuart gulliver said the world has changed, and hsbc needs to change with it. >> big cutbacks at europe's biggest act. hsbc is aiming to axe 25,000 jobs by the end of 2017. that number could end up doubling with the potential sale of its turkish and brazilian operation. the company is looking to cap stopping costs by 10% and save 5 billion dollars. hsbc is planning to use these savings to fund its pivot toward china and southeast asia. executives are looking to restore investor confidence. hsbc has been hit by a series of scandals including a swiss subsidiary being accused of aiding tax avoidance. it has also been fined by

regulators for rigging foreign-exchange markets and breaching u.s. sanctions. since ceo stuart gulliver took over in 2011, he has announced over 75,000 job cuts. and reduced the number of countries the bank operates in by 15% -- by 15 to 73. it could also be looking for a new home. hsbc is expected to make a decision on whether it should move its headquarters outside of the u.k. before the end of the year. genie: 25,000 is an enormous amount of jobs. how is this news weighing on the company stock today? >> shares are currently down 1.20 5%, not too bad considering all the main indices in europe are in negative territory. the dax in germany is the worst performing, down over 1%. we are seeing a slight recovery in istanbul, with the bist up.

let's get you to the latest on the greek debt saga. the european commission has confirmed it has received a new proposal on fiscal targets and debt relief from essence -- from athens. alexis tsipras said a deal would be possible if creditors dropped demands linked to pension cuts. on monday, youngest verify case -- yanez very fact this said it is time to stop when the finger and called on the german chancellor to visit its country -- to visit the country and bring it some hope. >> hope does not have to be technical. it would something mark a sea change, a break with a fast -- with the past five years, new loans on unsustainable debt, punitive austerity that diminishes our incomes. who should deliver the speech of hope? i think it should be the german chancellor.

[applause] >> let's look at some of the other stories making headlines. the french government has launched its latest efforts to combat high unemployment. the prime minister says small enterprises will receive a cash incentive of 4000 euros for hiring their first worker. company's will be allowed to renew short-term contractors -- short-term contracts more than once. first, -- the airline is considering levying a charge on tickets booked by third parties. last week the founder implemented a 16-year-old surcharge on flights not booked on its website. despite the resistance, uber is ramping up its presence in france. the ride-sharing urged its ridesharing -- the rollout is seen as a direct challenge to french authorities, which passed

a law last year effectively banning the service. genie: just to wrap up, you have a new announcement from richard branson. >> remember when the virgin group boss announced unlimited time off work? now he is down in the south. virgin's management has announced that staff will be offered up to a full year's pay for shared maternity leave. virgin is trying to keep workers very happy. genie: it is a fantastic move. thank you for that look at business news. it is time for the press review. our correspondent is with us on set to take a look at what the papers have been saying. hi flo. let's look at the promising results coming out of turkey. flo: lots of editorials are

focusing on those results. let's start with "the new york times." it says, "democracy wins in turkey." the editorial focuses on that incredible turnout rate, 86% of people who have cast their ballot. they denied the president president erdogan, a majority in parliament. in doing so, they made it clear that they would not allow him to a mass even more power. erdogan turned this election into a referendum about himself. the result was a resounding rebuke. genie: the focus now is on what happens next, coalition building. flo: that is the big question today. it is on the front page of a turkish paper. talking about the erosion of the akp, erdogan's party has put coalition scenarios on the agenda. the tricky situation -- it is

unclear whether or not a coalition can be formed. one party that has gained a lot of power in this election is the pro-kurdish peoples democratic party. it won 13% of the global -- it won 13% of the vote. you can see they describe their leader as "the guitar-playing kurdish obama whose thwarted the president's ambitions." he ran a very successful campaign by reaching out to western secularists and women. speaking of women, there another article in "the guardian," focusing on another interesting outcome of the election, that there will be a record number of women mp's among them. genie: let's go back now to "the new york times," which has an in-depth focus on what it calls the worst migration crisis since

world war ii. flo: you can see "the new york times" is talking about the global struggle to respond to the worst refugee crisis in generations. 11 million people were uprooted by violence last year. a lot of this was due to the conflict in syria iraq, ukraine, afghanistan, but we have also been reporting about the crisis in the mediterranean, and the migration crisis in south asia, south east asia. it is a very interesting in-depth report. it points out that countries are struggling to respond to this crisis, and in the meantime, all this is playing into the hands of human traffickers. staying on this topic, there is another interesting article in "the daily beast" focusing on the situation in italy, where politicians and businessmen have been running a massive migrant scam scheme that is basically becoming even more lucrative than narcotics trafficking.

it is a harrowing report to read in "the daily beast." genie: let's read about a legendary comic book character tintin and legal rights. flo: you might think that tintin belongs to the heirs of the man who drew tintin. according to a dutch court, it belongs to nobody. back in 2012, a belgian-based company that manages the very lucrative tintin business, they took a small dutch fan club to court. the fan club was printing tintin in a fanzine without their permission. this went to court and their lawyer produced a 73-year-old document in which the man who drew tintin -- he signed the

rights to his publisher. it is a little bit complicated but essentially, it is confusing as to who owns the rights. this is a bombshell for the publishing industry. genie: let's wrap up quickly with a word on fifa. flo: they say bad press can be good publicity. genie: there is snow such thing as bad press. flo: fifa made a film called " -- it bombed at the box office. over friday and saturday, it just made $607. there was one phoenix area theater that only made nine dollars in those two days. what is interesting is that the film came out in limited release all over europe. it was at the cannes film festival in 2014.

in france, it did not have to go through the box office. genie: nine dollars has to be an all-time low. thank you for that look at the press. you can always look at the days

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