nejra: back to our interview with andrew bailey. to the regulatory implications of exit complicate the implementation of mis-hit in the united kingdom --mifid ii in the united kingdom. andrew bailey: we made it clear from the day of the referendum that in the united kingdom, as long as the root mean a member of the european union, the you and has to keep on implementing european law. what comes hot on the heels of that, is that in the context of moral legislation in the united kingdom, you have been working with the government on how to work with the legislation in our domain and work on that house how to bring that back to the united kingdom. that is our job and is underway but obviously that include having to deal with two other sorts of things. you are already having to work out how to transfer the legislation, which is challenging in terms of timetables and loads but we had to do that, obviously. because the commitment of the united kingdom is that on day one, we will essentially have the framework of legislation and rules opera

let's get back to our interview with andrew bailey. do the regulatory implications of brexit complicate mifid ii in the u.k., if they do at all? >> we are implementing mifid ii as a member of the european union. we have made that very clear since the day of the referendum. as long as the u.k. remains a member of the european union the u.k. has to go on implementing european union law. mifid ii is one of the biggest pieces of implementation we will be doing during this period. hot on the heels of that, in the context of the withdrawal legislation in the u.k., we are working with the government, having to go through all the regulation and the rules that come from the european union and work out how to transport them into u.k. legislation and rules. that is a big job. we are well underway. that includes having to deal with mifid ii among other things. we are trying to work out how to transport it into u.k. legislation. which is challenging in terms of timetables and load but we are having to do that obviously. the commitment of the u.k. i

andrew bailey told the bbc that young people were increasingly having to borrow to meet the basic costsliving. the regulator also said he "did not like" some high—cost lending schemes and that credit should be "affordable". shares of japan's third—biggest steel—maker, kobe steel, are now at a five year low having slid more than 3% this morning. $2 billion has been wiped off the value of the company. more than 500 companies have used their metal products around the world. this comes after the steel—maker revealed that about 500 companies had received its falsely certified products, more than double its earlier count. airbus chief executive tom enders has said he would be prepared to step down if he was "no longer part of the solution" as the firm deals with ongoing corruption probes. the aircraft maker has been under investigation in the uk and france since 2016 when it admitted

andrew bailey, the head of the watchdog said it's a growing problem and is increasingly affecting moreld—up of debt amongst the younger age group. and by the way, i don't think we should necessarily think of this is reckless borrowing. it is directed at central sort of living costs. i do quite a bit of work going around debt advice centres run by charities, talking to people with problem debts. and it is not, you know, it is not credit in a classic sense. it is affordability of basic living in many cases. we can speak to beverley budsworth, managing director, of the the debt management company the debt advisor. thank you forjoining us. how can you tell when you are in trouble with debt? problem that is where the minimum statutory payments are eating into the money that you need to live on. and really the first step is to work out what is coming in what is going out, what sort of surplus have you got. a few got a debt of, you know, 20 5000. the minimum payment is going to be £300 but you might only be able to afford £100 a month. this debt levels you referred to before, 3000. you know,

andrew bailey says action is being taken to curb long—term credit card debt and high cost pay—day loansce reporter kevin peachey reports. consumer credit, the amount worried on loans, overdraft, credit cards and car finance has accelerated on loans, overdraft, credit cards and carfinance has accelerated in the last few years and is now growing at nearly 10% a year. andrew bailey, the head of the financial rate later the sca, has now said some young adults are now particularly exposed to high cost credit. that was true ofjess from newport who got her first loan at the age of 18. they knew my age and they shouldn't have offered it to me really. if they'd offered me a lower amount, something that perhaps i could have afforded, but i can't believe they did it. high rent and low income growth has led many people of similar age to use credit to pay for basic living costs. research for the bbc has suggested 20% of the young adults surveyed we re 20% of the young adults surveyed were using credit to pay for essentials such as food compared to just 6% among the over 555. the survey by accountanc

andrew bailey told the bbc there was a "pronounced build up" of debt.d about how they will pay back their loans and credit cards. we'll be taking a closer look at issues surrounding debt, particularly concerning young people, in business at 11.a5am. the metropolitan police is examining five allegations made by three women against the hollywood producer harvey weinstein. the assaults are said to have taken place in london between the late 1980s and 2015. harvey weinstein has admitted his behaviour has "caused a lot of pain", but has categorically denied all claims of non—consensual sex. simon clemison reports. the list of hollywood stars who've spoken out against harvey weinstein has been growing, with more coming forward herein the uk. ata at a premiere in london last night, one topic was talked about a lot. i'm not doing 0k. scotland yard says three women have now come forward to say they were attacked by harvey weinstein in five individual incidents in london. lysette anthony, seen here in 1982 when she was 19, told a newspaper she was raped by the fi

how well method, we speak exclusively to andrew bailey, the head of the conduct authority about brexitt management.

plus, we speak of facility to andrew bailey the head of the conduct , authority about brexit and the

we speak exclusively to andrew bailey, the head of the conduct authority about brexit and the futureement.

we speak exclusively to andrew bailey, the head of the conduct authority about brexit and the future

with borrowing surging, chief executive andrew bailey highlighted his growing concern about payday lendersssive rates, overdone accounts, and it occurred debt. they'll he said firms may not be doing enough to protect lackmers, saying they incentives to tackle credit card customers are profitable. that is the u.k. household consumer credit level. it is just off the peaks of earlier this year. this is a wonderful chart. may benefit from expectations of a move by the central bank to tighten policy after lagging bets in rate markets. maintainedbank negative rates with a dovish start reaffirmed by the reappointment of the governor. to verge from lack of swedish interest rate expectations, which remained relatively stable. there are expectations the reichs bank will raise rates in the second quarter of next year, ,efore any move by the ecb helping the currency catch up with rate markets that are betting on a policy shift. how is it looking over there? vonnie: we have been seeing the consolidation for the dollar index. we are still there. we are heading for 94. a little higher today, particularly

andrew bailey has told the bbc the young were particularly at risk because they were often facing hightry and the local economy. the operation to rescue people stranded abroad by the collapse of monarch has now brought home 80,000 holiday—makers. it took more than 560 flights. the operation has now come to an end, but around 1,000 people are still overseas. the civil aviation authority is looking at other ways of getting them home. so younger people are having to face debt as part of life? pwc the accountancy firm says young people between 25 and 34, unsecured debt, things like credit cards and personal loans, that‘s coming in at £3,000. now, simon, they are not like splurging it on holidays... they are doing it to live. that's what‘s got the financial conduct authority particularly worried. 0nly last week we were talking about debt problems for the over 50s. debt isa debt problems for the over 50s. debt is a problem full stop. both ends of the spectrum are really feeling this. the report last week said that people over 55, who are still working, owe about £1500 to £2,000 and that‘s a

if i could touch upon the ceo of the fca, andrew bailey, when this was brought to his attention, his, so we are not going to go down that route. i just want to know, have you managed to rebuild your life? are you in business at the moment? rebuilding it very slowly, we managed to pick ourselves off the ground. that is what smes in the uk do. they are the driving factor of the economy. you dust yourself off. but this experience for the last five years, nearly six years, has taken its toll. how do you rebuild a business? incidentally, in my case, i left school with no qualifications. ended up school with no qualifications. ended up building a business and having 100 people turning over £35 million. how do you rebuild that at this time of your life? difficult, i know, difficult to speak about this when it is obviously still very distressing for you. we appreciate you coming on. now it is time to get the latest weather update. good morning. for many it has been a lovely start to the day. we have had a decent sunrise. pretty decent weather watcher photos being sent in as well. lovely blue

andrew, for the work you do on that. [applause] it meansn: democratically accountable, public ownership for the natural monopolies, with new participatory forms of management, as rebecca long-baileyen setting out in a speech yesterday. it means employees given their voice at work, with unions able to represent them freely, freed of undemocratic fetters on their right to organize. [applause] mr. corbyn: i promise you, two years ago that we would do politics differently. and i have to say, it it has not always been easy. [laughter] there is quite a few who prefer politics the old way. , we will do politics differently, and the vital word "ere is "we. [applause] mr. corbyn: not just leaders saying things, but everyone having the chance to shape our democracy, our rights as citizens as important as our rights as consumers. power devolves the community, -- so let's take it a stage further. make public services accountable to communities. accountable to the public, and politicians truly accountable to those we serve. [applause] mr. corbyn: let the next labor government transform britain by putting power in the hands of the people. they created, compassionate, committed people of this c

bailey. the you see a continent of europe becoming more aggressive in corporate governance and corporate management? andrewe are certainly seeing a glass half-full. we talked about the confidence level is back up. despite these medical risks, you sre seeing wind in the sail on a number of fronts. what we are trying to highlight is these are supposed to be the good times. the times you are supposed to be pushing on reforms and getting things done, saving for the rainy day. despite brexit, you have the euro skeptics on the eastern front. it is really time to get things in order. that window is closing. i think what you say holds true. but you need more of a push. >> i live in dubai. i barely have socks. tom: you do not have a trenchcoat in dubai or socks. nejra: i do not have a burberry trench either. maybe you can get me one for christmas. [laughter] simon, we are talking about europe, we are talking about burberry. what is your outlook for eurosterling? simon: i remain uniquely skeptical about sterling. i think we are headed well back above 90 again. at ai think we aim gently tightening cycle for the euroz