andy verity, bbc news. you are watching bbc news.d another ballistic missile, sparking international condemnation. the us wants the world to do more to curb its nuclear ambitions. a british surgeon faces jail after carrying out completely unnecessary operations. he's accused of playing god with people's lives. now, on saturday, president trump marks 100 days in office. he'll spend the actual anniversary at a big rally in pennsylvania. coincidentally, that rally is being held at the same time as the white house correspondents‘ dinner, which is traditionally attended by a sitting president. earlier, mr trump met possibly some of his staunchest supporters at a meeting of the gun lobby group, the national rifle association. the eight—year assault on your second amendment freedoms has come to a crashing end. applause you have a true friend and champion in the white house. no longer will federal agencies be coming after law—abiding gun owners. applause well, staying with that man‘s first 100 days in power, if you follow the trail of suppor

andy verity, bbc news. john pienaar is at westminster for us now.ction campaign? well, brexit supporters, who include the prime minister, took comfort from the way the economy bore up after the vote to leave. and now the state of the economy is heading back to the centre of the ring, where it tends to end up at election time. 0ver tends to end up at election time. over and over again, the economy is right there, centrestage. the opposition have been given something to go on, as we saw, and you can add to go on, as we saw, and you can add to that inflation may be moving up and wage growth may be slowing down. these things touch people in their pockets and stadium lives. but remember, the government is scoring highly for economic trust. in the minds of many tories, that chimes with the theme that the prime minister is playing so deliberately and regularly, you would almost think theresa may was practising the phrase "strong and stable leadership" each night to a metronome. in 1998 the labour party w011 metronome. in 1998 the labour party won a landsli

our economics correspondent andy verity reports.ed greedy and devious bribe dishonest bankers. in exchange the back small—business customers to pay for the consultants who plundered the businesses to buy holidays, foreign property and yachts. in february they were jailed for corruption, fraud and money—laundering. this man who ran a successful hairdressing business says the fraud drove him into and destroyed his marriage. like anyone, you get used to a standard of living andi you get used to a standard of living and i had built the business from oui’ and i had built the business from our early 20s and the business was going up and up and all of a sudden it was stolen and crashed. lloyds banking group recently told victims of the fraud that the bank had no evidence of criminal behaviour based on its own internal reviews until the trial in 2016. but a source inside the bank leaked a major report to regulators and i have seen its conclusions. it says the bank committed serious breaches and violations of statutory and regulatory obligat

andy verity reporting there.th the conservative group in cardiff bay. the resignation of the former mp mark reckless from ukip follows in the footsteps of the departure of douglas carswell as its only mp last month. 0ur wales political editor, nick servini is in cardiff bay. he explained what the reaction had been so far to mr reckless‘ resignation. the leader of the wealth conservatives said he'd been an assembly member since taking on the job and indeed the statement from mark reckless saying he was keen to joina mark reckless saying he was keen to join a united group at the assembly and they are pointed and they think they are pointed criticism to the infighting we have seen criticism to the infighting we have seenin criticism to the infighting we have seen in the ukip group since, they we re seen in the ukip group since, they were elected at the assembly last year. but there was a paradox, you are right, at the heart of this because we are told he is not going to rejoin the conservative party. we are told the

our economics correspondent andy verity has the details.rts for cars. the drop in the value of pound before and after the brexit vote should have helped business a lot. because it is cheaper for foreign buyers paying dollars are euros to buyers paying dollars are euros to buy the parts. but new order are not growing as quickly. there are customer whs are saying let's wait and see what happens with brexit and whether we can buy from the uk or europe and what we are saying it look, we will continue to invest and grow, what we need is a bit more commit frment the government to get the —— commitment from the government to get the deal done. the car makers could be investing more to meet demand, but their customers are consumers and spending there is slowing down. what is a matter of concern for businesses is if the consumer starts to give way, because of pressure from inflation and their ability to spend, that could hold back investment and be the beginning ofa back investment and be the beginning of a broader slow down. that message was not lo

our economics editor, andy verity, has the story. october 2008, the height of the banking crisis.e paying to borrow cash. that would also affect the cost of mortgages. each bank had to estimate how much interest they would have to pay. that was the job of libor submitter, who the law says should be given his own view, not influenced by others. then the rates from all banks were averaged. panorama has uncovered a phone call during the crisis when a senior ba rclays during the crisis when a senior barclays banker, during the crisis when a senior ba rclays banker, mark during the crisis when a senior barclays banker, mark dearlove tells the man setting to rate to push down the man setting to rate to push down the rates, because of pressure from above. we played the recorder to a member of treasury select committee who was shocked and called for an inquiry. what dea rlove shocked and called for an inquiry. what dearlove is saying, if it is true, it is shocking. the tape suggests that in fact the bank of england knew about it and were encouraging or instructing it. so we need an immedi

discussed fraudulent behaviour at an hbos subsidiary as long ago as 2008. 0ur economics correspondent andy veritynded greedy and devious and bribed dishonest bankers. in exchange, the bank forced small—business customers to pay for the consultants, who plundered the businesses to buy holidays, foreign property and yachts. in february, they were jailed for corruption, fraud and money—laundering. this man, who ran a successful hairdressing business, said the fraud drove him into bankruptcy and destroyed his marriage. like anyone's wife, you get used to a standard of living, and vivian and i had built the business from our early 20s. the business was going up and up and up, and then suddenly it was stolen. and crashed. lloyds banking hroup recently told victims that the bank had no evidence of criminal behaviour based on its own internal reviews until the trial in 2016. but a source inside the bank leaked a major report to regulators and i have seen its conclusions. it says... nicky turner, another victim of the fraud, first warned the bank in 2007. the bank responded by trying repeatedly to make he

our business correspondent andy verity is at southwark crown court.pened in court. well, first, i might give you a two explanation of what libor rigging is. libor is supposed to measure the real cost of borrowing money. every bank each day would say what interest rate they thought they would have to pay to borrow money. they would take an average and that average is libor. at the same time, the banks had big money staked on which way libor went, up or down. and traders would get in touch with the people at the banks who submitted the rates and make requests for hire or lower libors according to what was in the bank's commercial interests. back in 2012, when bob diamond resigned, those requests were frowned on as corrupt and dishonest. but the traders defended those requests, saying they we re defended those requests, saying they were not against the rules and they we re were not against the rules and they were not against the rules and they were not dishonest. i have a statement from one of the traders who has been acquitted, ryan reich, who has been

it was obtained by our economics correspondent, andy verity, for a panorama investigation.2012, when barclays boss bob diamond was forced to resign. until recently, libor used to be set by a member of staff at the biggest banks, called a submitter, saying what interest rate they thought they'd have to pay to borrow money. an average was taken, called the london inter—bank offered rate, or liborfor short. it helps determine how much the banks pay to get hold of funds to lend and therefore what we pay on mortgages and loans. it also gives an indication of how healthy financially the banks are. the submitters were meant to put in rates based only on their own genuine view of the market for borrowing and lending cash. panorama has uncovered a phone call on october 29th 2008, during the financial crisis, when a senior barclays banker, mark dearlove, tells the man putting in libor rates, peterjohnson, to push them down below the true cost of borrowing cash because of pressure from above. we played the recording to chris philp mp, a member of the treasury select committee. if what

particularly marked in the service and retail sectors, previously engines of growth, as our correspondent andy verityhe bright spot of our economy. this manufacturer makes internal parts from land rover to the nissan cash card. the drop in the value of the pound before and after the brexit should have helped with this a lot, because it is cheaper to buy the cars abroad that these parts go into. but even here, new orders are not growing as much as they did a year ago. there are potential customers with orders who say, wait 12 months, see what happens with brexit, see what happens with brexit, see what happens at tariffs, the wii can buy from the uk orfrom europe. we are saying we will continue to invest and grow. what we need is more commitment from the government to get things done. the figures are ominous. they suggest that this is not really sustainable. opponents sought to play down brexit. i think the gdp figures should be setting alarm bells ringing and it underlines the importance of making sure that there are voices that arguing for a common—sense outcome. are voices that arguing for a common-

here's our economics correspondent andy verity. in 2012, when barclays boss bob diamond was forced to resign. until recently, libor used to set by a member of staff of the biggest banks, called a submitter, saying what interest rate they thought they'd have to pay to borrow money. an average was taken, called the london inter—bank offered rate, or liborfor short. the submitters were meant to base it only on their own genuine view of the market for borrowing and lending cash. panorama has uncovered a phone call on october 29th, 2008, during the financial crisis, when a senior barclays banker, mark dearlove, tells the man putting in libor rates, peterjohnson, to push down his libor rates below the true cost of borrowing cash because of pressure from above. we played the recording to chris phelps mp, a member of the treasury select committee. if what dearlove is saying is true, that is shocking. this tape suggests that in fact the bank of england knew about it and indeed were encouraging or even instructing it. so we need an immediate

byjust 0.3%, with the service and retail sectors particularly affected. 0ur economics correspondent andy verityf our economy. this manufacturer makes internal parts for cars from land rovers to the nissan qashqai. the drop in the value of the pound before and after the brexit vote should have helped business a lot because it is cheaper for buyers using dollars and euros to buy the cars that these parts go into. but even here, new orders are not growing as much as they did a year ago. there are potential customers with orders who say, let's wait for 12 months, see what happens with brexit, see what happens with tariffs, see whether we can buy from the uk orfrom europe. we are saying we will continue to invest and grow. what we need is more commitment from the government to get deals done. business leaders keep trying to tell politicians that brexit—led uncertainty is slowing down new orders for their goods and putting off big companies from investing. the figures are ominous. they suggest that the way the british economy has been kept afloat since brexit vote, a lot of consumer spending, spendin

it was obtained by our economics correspondent, andy verity, for a panorama investigation.n. until recently, libor used to be set by a member of staff at the biggest banks, called a submitter, saying what interest rate they thought they'd have to pay to borrow money. an average was taken, called the london inter—bank offered rate, or liborfor short. it helped determine how much the banks pay to get hold of funds to lend, and therefore what we pay on mortgages and loans. it also gives an indication of how healthy financially the banks are. the submitters were meant to put in rates based only on their own genuine view of the market for borrowing and lending cash. panorama has uncovered a phone call on october 29th 2008, during the financial crisis, when a senior barclays banker, mark dearlove, tells the man putting in libor rates, peterjohnson, to push them down below the true cost of borrowing cash because of pressure from above. we played the recording to chris philp mp, a member of the treasury select committee. if what dearlove is saying is true, that is shocking. this ta

andy verity gave us more details.e all go round the shops, we have the same feeling that we used to have, but didn't have for a while. that has gone up. it has gone up. food prices were falling for three yea rs. if food prices were falling for three years. if you look at what is happening to the average retail price, the consumer prices index is up price, the consumer prices index is up by price, the consumer prices index is up by 2.3%. i think we have a different index there. the average pay, up different index there. the average pay, up to 2.2%, is not keeping up with it. we have a renewed squeeze on living standards. we have that squeeze on living standards for four yea rs squeeze on living standards for four years from 2011 until 2015. then wages started outpacing prices. now we are back in the same situation. living standards are being squeezed. a large part of the reason is that prices are going up because most of what we buy comes from abroad. when the pound is weak, you need more of them to buy the same goods.

0ur economics correspondent andy verity gave us more details.ou look at the average retail price, the consumer price index is up by 2.3% — i think we have a different index there, but other rich pay, up 2.2% is not keeping up, so there is a renewed squeeze on living standards, we have that squeeze on living standards from 2011 to about 2015 and then wages starting outpacing prices but now we are back in the same situation, living standards are being squeezed and prices are going up because most of what we buy from abroad, when the pound is weak, you need more to buy the same goods so they will cost more — that is an effect we have particularly felt post—referendum. now — the average computer hacker isjust 17 — and gets involved in cyber crime because they think they won't get caught. that's the conclusion of a new report by the national crime agency, which has been looking at ways to stop young people getting drawn into online crime. 0ur correspondent angus crawford has more. the internet is breeding a new kind of criminal who'd never normally b

it was obtained by our economics correspondent andy verity for a panorama investigation. 2012, when barclays boss bob diamond was forced to resign. until recently, libor used to be set by a member of staff at the biggest banks, called a submitter, saying what interest rate they thought they'd have to pay to borrow money. an average was taken, called the london inter—bank 0ffered rate, or liborfor short. it helped determine how much the banks pay to get hold of funds to lend, and therefore what we pay on mortgages and loans. it also gives an indication of how healthy financially the banks are. the submitters were meant to put in rates based only on their own genuine view of the market for borrowing and lending cash. panorama has uncovered a phone call on october 29th 2008, during the financial crisis, when a senior barclays banker, mark dearlove, tells the man putting in libor rates, peterjohnson, to push them down below the true cost of borrowing cash because of pressure from above. we played the recording to chris philp mp, a member of the treasury select committee. if w

our economics correspondent andy verity has the details.e drop in the value of pound before and after the brexit vote should have helped business a lot. because it is cheaper for foreign buyers paying dollars are euros to buy the parts. but new order are not growing as quickly. there are customer whs are saying let's wait and see what happens with brexit and whether we can buy from the uk or europe and what we are saying it look, we will continue to invest and grow, what we need is a bit more commitment from the government to get the deal done. the car makers could be investing more to meet demand, but their customers are consumers and spending there is slowing down. what is a matter of concern for businesses is if the consumer starts to give way, because of pressure from inflation and their ability to spend, that could hold back investment and be the beginning of a broader slow down. that message was not lost on the the politicians on the campaign trail, who each had their own take on the slow down. britain's economy is forecast to grow at

our correspondent andy verity reports this sector is now the bright spot of our economy.the nissan qashqai. the drop in the value of the pound before and after the brexit vote should have helped business a lot because it is cheaper for buyers using dollars and euros to buy the cars that these parts go into. but even here, new orders are not growing as much as they did a year ago. there are potential customers with orders who say, let's wait for 12 months, see what happens with brexit, see what happens with tariffs, see whether we can buy from the uk orfrom europe. we are saying we will continue to invest and grow. what we need is more commitment from the government to get deals done. business leaders keep trying to tell politicians that brexit—led uncertainty is slowing down new orders for their goods and putting off big companies from investing. the figures are ominous. they suggest that the way the british economy has been kept afloat since brexit vote, with a lot of consumer spending, spending by credit, high house prices, is not really sustainable. political opponents

. <0ur business correspondent andy verity is outside it all began a few years ago but remind us aboutigging is one of the city ‘s biggest scandals. 9 billion dollars in fines around banks around the world. they will spend the money on various military charitable exercises etc, but to remind you about the scandal, libor measures the real cost of borrowing money. forgets about the bank of england rate, whether it's going to go england rate, whether it's going to 9° up england rate, whether it's going to go up and down, that's not what determines the cost of the mortgage, but how much it costs the bank to get hold of funds, so libor tracks it. everyday 16 banks say how much they thought they would have to pay in interest to borrow money and they would average it to get libor. at the same time, the banks were betting which way libor would go, up or down. server trader would get in touch with the people who are stating the rate and what they would be and say, can be habit higher or lower? —— have it higher or lower? was this really criminal? what has been shown in the trial, no, we were do

andy verity, bbc news.in england is leading to some vocational subjects being cut. research from the nut and the atl suggests teachers in subjects outside of maths, english, science and the humanities are most at risk. the government says school funding is at record levels but critics say it is not keeping up with costs and warn of a £3 billion funding gap by the end of the decade. australian scientists say two—thirds of the great barrier reef has now been devastated by severe coral bleaching caused by rising water temperatures. our sydney correspondent, phil mercer, has more on this. what is happening? good morning. the great barrier reef is about the size of italy, and the damage being inflicted by this bleaching is, according to australian scientists, unprecedented. for the first time, they have recorded mass bleaching events they have recorded mass bleaching eve nts o n they have recorded mass bleaching events on the great barrier reef in consecutive years. last year they uncovered this bleaching in the