. 0r, left by money, not page them by carillion.or side, a few days ago, what network rail said what could become a president, is that it said, a of the contractors... they would actually pay off some of the debts that carillion had, some of the money for thejob is that carillion had, some of the money for the job is done, particular on some of the railway operating over because this period. well, if network rail can do that, what about some of the big tax payer funded agency, as well. just to get onto small businesses, is there a danger that some could go out of business because of this? you low there is a real danger that some of them will go out of business. many of them look extremely unlikely to get the money back. at least in the short—term, if there is more financial support, that will at least people ever, when then you can then continue contacts. now, continue taking up contacts that they were planning to do in the near future, including those promised by carillion, it will improve the chances of them surviving. thank you v

carillion's total debts would have beenin carillion's total debts would have been in excess of a billion contacts, inevitably it will take time to get through. so, a step in the right direction, and lots more needs to be done. including, also that those who work in ongoing contracts, or contracts come up in the near future are also allowed to do those, that the customer, whether it is government departments, or people in the private sector, that they are allowed to carry on doing that without the carillion middleman. you say that lots more needs be done. is there also the feeling that an unused to be done a bit sooner? well, a task falls was set up after a confederation of small businesses we re a confederation of small businesses were called. to way. that did happen within a few days, there have been a feud beating since, but the fact is that carillion was far, far too big. at far too many predict lee public sector contracts, and when we look to the longer term lessons of this, after we have dealt with hoping those affected, not just those directly with dealings of carillion, but those

a lot of these companies were lending money to carillion.e company has told us privately that it won't take up the offer and it suspects other companies won't take it. 0thers offer and it suspects other companies won't take it. others will be worried that if they take up the offer, supplies would think that maybe they are in trouble and that could damage them, take the help thatis could damage them, take the help that is on offer. there is a confidence issue. there was a complex supply chain and i can see the problem, but the richest business bank was set up several yea rs business bank was set up several years ago to supply credit. it happens indirectly through peer to peer lending and other platforms. i would hope that companies take full advantage of it because that is where it is the passion that is why it is there. carillion is not the only example of a very big company that affects smaller companies. the british government, and successive governments, notjust this one, have become heavily reliant on these large companies. they are very

these will allow companies who lost money due to carillion get bank loans. be on the hook if someone defaults. additionally, the uk banking sector has promised to take the circumstances surrounding carillion into consideration if individuals face problems repaying loans, overdraft or mortgages. the extent of the damage to the wider uk economy of one firm's collapse is coming into sharp focus. joe lynam, bbc news. earlier i spoke to the leader of the liberal democrats and a business secretary sir vince cable. i asked him for his reaction to this latest development. it is far too late. i mean, for goodness' sake, i mean the government knew about the trouble of carillion months ago, which is why it was feeding it contracts. it should have been aware there was a supply chain. i setup the british business bank several years ago in the coalition. in order to... this is what will be providing the guarantees? and the question is why on earth wasn't it mobilised much sooner. but i think there is a deeper problem here. i mean one of the fallouts from carillion is that

in its final two years carillion had indulged in its final two yea rs in carillion had indulged in itsssive accounting, effectively booking payments as income and they had not come in. our business editor simon jack is here. how did a company which got a clean bill of health from the executives of the company and its auditors suddenly almost collapse four months after that injuly? suddenly almost collapse four months after that in july? the suddenly almost collapse four months after that injuly? the executives said today they were genuinely surprised by how quickly some contracts deteriorated. some in the middle east, some in canada and some key ones in the uk. and given the amount of debt the company had, which they admitted was too hi, they did not have the wiggle room. it was a surprise to us, everyone today said it was a complete surprise. real consequences from this collapse, we are hearing more today? the royal liverpool hospital has released a statement today saying because of the problems with subcontractors, many of whom face financial difficulties, they cannot get the work st

most of these small companies were lending money to carillion.s question of taking up the offer. at least one company has told us privately that it will not do it and suspects other companies will not do it. others will be worried that if they are seen will be worried that if they are seen to take up these offers, their customers will then think, their suppliers will think, maybe they are in trouble and it could may be damaged them. there is a confidence issue. the problem is that, you know, you have a complex supply chain, much of which depends on credit worthiness and i can see the problem. but the british business bank was set up several years ago to provide credit to small businesses, it is already doing it, it happens indirectly and other platforms. so i would hope that actually companies ta ke would hope that actually companies take it because that is what is there for. three men have been charged with murder after the fatal stabbing of a prisoner. khader saleh died on wednesday at wormwood scrubs prison in west london. ahmed kyre, kalif di

anyone left holding shares in carillion when it was liquidated lost all their money, but thousands ofbut thousands of former employees lost theirjobs and their livelihoods. on the businesslike page we have the latest news as it breaks, including shares slumping because of flat earnings, flat earnings, this is the household goods giant. shares down something like 3% this morning. making lots of goods that we are familiar with, death toll, all sorts of things. that is one of the stories. —— dettol. billion pounds sales for mccolls, convenience chain. following its acquisition of 298 co—op stores last year. lots to digests. on what is normally a quiet start to the trading week, certainly financial markets. you're watching business live. our top story: it looks as if there could be a showdown over global trade. china is threatening to strike back if america goes ahead with tariffs on steel and aluminium. a quick look at how markets are faring. london is up a little, as is germany and france, no big movements given that asian markets were closed. pound is stronger than the dollar, wea k po

carillion has been replaced on this project. and a bit of anger at how a company passed fit in its own annual statement last march suffered a crippling profit warning four months later and six months after that, was liquidated. one thing everyone agrees on is the company had far too much debt, so when nasty surprises came along the company was in no fit state to withstand them. other projects are facing major delays. the royal liverpool hospital was originally due to open this month. structural problems, cost overruns and now sub contractor financial hardship means that this hospital may not be ready for patients before the end of next year. were the bosses rewarded for these failures? former chief executive richard howson was paid £1.5 million in salary, perks and bonuses in 2016. do you feel comfortable with the level of bonus you received in the year before the company that you ran collapsed ? yes, i do, for the attributes that i earned it for. half of that bonus is deferred and half of it was paid in cash. there will be heat

mr green, what was your view on the government's response following carillion's downfall?at they would be able to play a positive role. and we were deeply disappointed, and to an extent surprised when that didn't happen. the funding we were asking for those two weeks in january, essentially 10 million to be matched, 10 million from the banks and then some guarantee underpinning for a supply of change financing against which we would, they would be tested through the broader restructuring plan. and i do find it somewhat perplexing when one looks at the funds that government is now having to spend on the liquidation on carillion, on the guarantee arrangements that have needed to be put in place to support the supply chain. you know, i still truly believe that the least—cost outcome for the taxpayer would have been to support carillion, as it sought to restructure the business. did you ever have a conversation with your colleagues, saying, ‘actually the government is never going to let us go to the wall because we are too big to fail and we‘ve got such major contracts? for ex

this, from a major carillion chair holder that had started to divest itself of carillion shares in 2015sting and challenging management's assumptions. that's clearly not right if you look at the subsequent write—down. with the benefit of hindsight, should the board have been asking further, more probing questions? perhaps, but from our perspective against the backcloth of the management environment and information we received, the testing and challenging of management, you know, we believe there was no basis at that time for not accepting the view that management put forward. more now on the centenary of some women being given the vote. a hundred years ago today, on the 6th of february 1918, over eight million women, and all men over the age of 21, were finally given the right to vote. the laws didn't extend to all women, but it began a period of great change for equal rights. jane hill is at westminster for us. welcome back to westminster in the shadow of the houses of parliament. the british house of commons store only has 32% female mps, up from what it was, but somewhere behind a lo

i mean one of the fallouts from carillion is that large numbers of small and medium—sized companies, already happening, it's a sort of crash in slow motion. one of the reasons is that carillion was not observing the government requirement that you pay your suppliers. a lot of these small companies were lending money to carillion, they were on a 120 day payment period. and that should never have been tolerated. just on this question of taking up the offer. a least one company has told us privately that it won't do it and suspects other companies won't do it. it's going to take the risk but it says that others will be worried that if they are seen to take up these offers, their customers will then think, ortheirsuppliers will think, ah, maybe they are in trouble. and then that could actually damage them, almost to take the help that's on offer. well, there is a confidence issue and the problem is that, you know, you have got a complex supply chain, much of which depends on credit worthiness, and i can see their problem. but the british business bank was set up several years ago to prov

the senior figures in charge of carillion in its final months... cochrane, chief executive during the collapse. reporter: would you say sorry to employees? and zafar khan, the finance director ousted after commissioning an internal investigation. also among them, richard howson. he was sacked as chief executive after having to warn last year that profits were plummeting. i, too, would like to say how deeply saddened and how sorry i am for what has happened to the business. mr howson received £1.5 million in 2016 and continued to get his salary after he left, even though the company failed do you feel comfortable but the level of bonus that he received? yes, ido, level of bonus that he received? yes, i do, forthe level of bonus that he received? yes, i do, for the attributes i earnedit yes, i do, for the attributes i earned it for. half of that bonus was deferred and half of that was paid in cash. large numbers of people are not going to get paid for their contracts, other people have lost theirjobs and you are still all right, all of you. anju? sil

these will allow companies who lost money due to carillion get bank loans.also means taxpayers might be on the hook if someone taxpayers might be on the hook if someone defaults. additionally, the uk banking sector has promised to ta ke uk banking sector has promised to take the circumstances surrounding carillion into consideration if individuals face problems repaying loa ns, individuals face problems repaying loans, overdraft or mortgages. the extent of the damage to the wider uk economy of one firm's collapse is coming into sharp focus. joe lynam, bbc news. the leader of the liberal democrats, vince cable, has responded to today's announcement. he says, "the conservatives should have made sure it used its powers much earlier. from now on, we must make sure the british business bank stabilises suppliers before they are terminally weakened." later on in the programme we'll be catching up with one business owner who carried out services on behalf of carillion and getting his response to today's announcement. the boss of the fbi has hit back at donald trump

headlines at eight: the building of a new hospital in liverpool is delayed following the collapse of carillion, as senior executives from the company face questions from mps. the roller—coaster ride on wall street. the ira hyde park bombing of 1982 relatives of the victims get legal aid for a civil action against the main suspect. clogged up britain — new research shows some drivers spend more than a day a year sitting in rush hour traffic. also in the next hour — the aerospace company spacex is gearing up to test what could become the world's most powerful rocket. it is on the launch pad and could ta ke it is on the launch pad and could take off in next hour. and it is 100 yea rs take off in next hour. and it is 100 years since women first got the right to vote but only if they were over 30 and owners of property. good evening and welcome to bbc news. former executives at the failed construction and services giant carillion have apologised for the compa ny‘s collapse. but they denied claims by mps that they were "asleep at the wheel." the firm which employed 20,000 people in the uk went into

these will allow companies who lost money due to carillion get bank loans.it also means taxpayers might be on the hook if someone defaults. additionally the uk banking sector has promised to take the circumstances surrounding carillion into consideration if individuals face problems repaying loans, overdraft or mortgages. the extent of the damage to the wider uk economy of one firm's collapse is coming into sharp focus. joe lynam, bbc news. kevin mclaughlan owns a painting and decorating firm that carried out work on behalf of carillion. he gave us work on behalf of carillion. he gave us his response to the announcement. a meeting i had in the city with one of the developers, a job we were on, five companies went into liquidation. some people don't want to talk. it's like yourself. if you have mortgage arrears, do you tell your friends? have mortgage arrears, do you tell yourfriends? i have mortgage arrears, do you tell your friends? i went public because the story needs to be told. persistent we in is wrong. a lot of people are hurting, manufacturers, trade

these will allow companies who lost money due to carillion get bank loans.it also means taxpayers might be on the hook if someone defaults. additionally the uk banking sector has promised to take the circumstances surrounding carillion into consideration if individuals face problems repaying loans, overdraft or mortgages. the extent of the damage to the wider uk economy of one firm's collapse is coming into sharp focus. joe lynam, bbc news. a father whose three daughters were among those abused by us gymnastics doctor larry nassar has apologised, after trying to attack him at a court in michigan. nassar was sentenced to up to 175 years in prison last month after more than 150 women testified that he had sexually abused them. nedder towfik reports. to my parents, thank you for all your love and support through all of this. throughout larry nassar‘s sentencing hearings, women have shared their horrific tales of abuse at the hands of the disgraced doctor. on friday, the testimonies continued, with the heartbreaking account of the margraves family, whose three d

carillion provided services for schools, hospitals and prisons.ation at the beginning of the year, leaving suppliers unpaid. and a hole in the company's pension scheme amounts to nearly a billion pounds. more than a thousand people lost their jobs. and there was widespread disruption among sub—contractors and suppliers. the committee began by asking the pensions regulator what lessons had been learnt. i am looking backwards with the benefit of hindsight, to see what happened, what lessons we can learn from it. you told us you are doing that. we still are. we'll have to do it on the situation as well. the fact is why i'm saying to you, we clearly have to be clearer, quicker, and tougher. the regulators insisted that their work with carillion had resulted in a 16 year recovery plan being put together, and more money being put into the pension fund. negotiating a recovery plan that balances the interests of the members and also the ability of the organisation to address its other obligations, and to deal with its priorities is a key part of this. and

>> the carillion -- we are not disclosing what the amount was in carillion and the high credit losses in q4 refer to carillion predominantly and one other loan loss in denmark. >> so the one client in the uk has to be carillion. >> the one client in the uk is carillion, correct >> so about a third of your loan losses were in denmark will you rethink this business model you have whereby local branchs have this autonomy to make these huge loans that then turn horribly bad? >> wasn't a correct description of how it works, and if we look back, as i mentioned, the loan loss ratio for the year is 8 basis points if we look back at the track record on the loan loss side. we are consistently at low loan losses so, no, we won't change the mod 8. >> the swedish housing market is plunging where do we go from here are there signs of market stabilization? more losses to come? what are the implications for your nonperforming loans >> we have not seen any losses in the swedish housing market. we don't anticipate we will have losses in the swedish housing market we only lend money to customers who we

these will allow companies who lost money due to carillion get bank loans.means taxpayers might be on the hook if someone defaults. additionally, the uk banking sector has promised to take the circumstances surrounding carillion into consideration if individuals face problems repaying loans, overdraft or mortgages. the extent of the damage to the wider uk economy of one firm's collapse is coming into sharp focus. joe lynam, bbc news. this is a story we will get reaction on this morning. the leader of the liberal democrats, vince cable, has responded to today's announcement. he says the government should have taken this step sooner. later on in the programme we'll be catching up with one business owner who carried out services on behalf of carillion and getting his response to today's announcement. a father whose three daughters were among those abused by us gymnastics doctor larry nassar has apologised after trying to attack him at a court in michigan. nassar was sentenced to up to 175 years in prison last month, after more than 150 women testified that he h

the boss of the collapsed construction giant carillion says he takes full responsibility for its demise, which threatens thousands of jobs. mps have been grilling former directors about what went wrong. several apologised but none offered to give up their bonuses. i'm truly sorry for the impact. it was the worst possible outcome. this was a business worth fighting for, and that's what i sought to do. but mps accused the former bosses of building a giant company on sand in a desperate dash for cash. also tonight: volatile markets — more frantic trading on wall street after yesterday's dramatic fall sparked a global sell—off. the ira's hyde park bomb — more than 35 years later, the families of the men who died win legal aid for civil action against a suspect. everything i can, but nothing gets done... the tv star katie price goes to parliament to call for online abuse to be made a criminal offence. that comes after her son was repeatedly targeted. and 100 years after some women won the right to vote, we look back at their extraordinary campaign and its legacy. and coming up on sportsday o

steinhoff and we did see carillion both affecting the business.the corporate story is going to be affecting big banks like hsbc. we are trading on the big volume as well. it is interesting as well, the markets kind of reluctance around the whole issue of tier ones. part of the reason why the stock is trading lower is the kind that reluctance from the markets on the tier ones. let's talk about the day ahead. areal democrats in germany to vote oneriod coalition talks with angela merkel. the palestinian authority president addresses the un security council a little bit later. bloomberg television continues. francine lacqua and "bloomberg surveillance." ♪ " is up next. she will be rejoined by tom keene. i am going to be going over to bloomberg radio. bob janjuah joins the conversation with edwards and i -- anna edwards and i. this is bloomberg. ♪ ♪ the market prepares for a flood of bond auctions as treasuries reopened. the u.k. government is reportedly preparing to withhold billions in payments if the eu is not play ball on a trade. ceo.utgoing hsbc

these will allow companies who lost money due to carillion get bank loans.ances surrounding carillion into consideration if individuals face problems repaying loans, overdraft or mortgages. the extent of the damage to the wider uk economy of one firm‘s collapse is coming into sharp focus. joe lynam, bbc news. a russian fighterjet has reportedly been shot down in a rebel—held area near idlib in northern syria. the syrian observatory for human rights monitoring group said the pilot ejected from the plane and was killed, but this has not yet been confirmed. video posted on social media appeared to show the plane being hit, while other video showed burning wreckage on the ground, with a red star on a wing. britain‘s civil aviation authority has announced a review into airlines‘ seating policies. it comes following concerns that some operators have deliberately been splitting up groups of passengers in order to force them to pay extra for allocated seating. our business correspondent vishala sri—pathma explained more earlier. now, if you book a flight on an a bud

carillion executives lost for words there.urn of the government, the liaison committee which is made up of the chairs of all the other committees are some of the cabinet office minister, but he was being very cautious in his a nswe i’s. was being very cautious in his answers. this exchange was typical. one of the lessons from the gfc was to have tougher rules about being able to claw back bonuses when things go wrong, do you think we need to look again at the clawback arrangements for bonuses so that we can get some of that money back? again, sitting here today, i can get some of that money back? again, sitting here today, lam open—minded on that. but there have been serious allegations of misconduct by the board and former board members of carillion. those are being independently investigated by the official receiver and it would be wrong for us to make any comment that could be prejudicial on the official receiver 's findings on that. i know this isn't the first timei that. i know this isn't the first time i have said this a

coming up: carillion senior executives seem lost for words. and you are still all right?f you? aren't you? the brexit debate gets a bit shouty. stand up to the man! stand up to the eu! and let's get on with leaving the eu! and 100 years after the first women get the vote, female mps are still suffering abuse. what this is about is about misogynists seeking to silence women who dare to speak out. but first, the chairman of the construction company carillion has told mps how upset he is at the firm's demise. the company, which provided services for schools, hospitals and prisons went into liquidation last month and an array of senior executives gave a joint committee of mps their side of the story. but the chairs of those committees were not impressed, saying afterwards that the directors were "delusional characters" who "maintained that everything was hunky—dory until it all went suddenly and an perceivably wrong." —— suddenly and unforseeably wrong." words can't describe the depth of my despair. i am devastated by the impact that the collapse has had, as i said, on the pe

carillion collapsed last month. got out before it was too late. in letters to mps, it was said that should be an investigation into the company former management. another big shareholder said that carillion management had played down any potential risks. while a canadian shareholder needed for attempts to get a meeting with carolyn‘s former chief executive. —— four attempts. the people working continued faithfully to work. the people drawing mega salaries, and as soon as the shareholders have a look, the grand for the hills. that was the real warning sign, and none of the regulators sintered to be aware of what was happening. anyone left holding shares in carillion when it was liquidated or lost all their money. but thousands of former employees lost their jobs money. but thousands of former employees lost theirjobs and livelihoods. three billboards 0utside ebbing, missouri has dominated the bafta film awards, winning five trophies. the theme ofjustice and equality for women dominated the event, with most guests wea

carillion provided services for schools, hospitals and prisons.ers unpaid and a hole in the company's pension scheme at hundreds of millions of pounds. more than a thousand people lost their jobs and there was widespread disruption amongst subcontractors and suppliers. first to face the music was the pensions regulator. how many other schemes were before you pleading poverty, but paying dividends? how many in that position, could you tell us? i cannot answer that question either, this is complicated, numbers of our period of time that changed constantly i will be happy to send the committee notes on how many schemes are in that situation. that should be your daily diet — every week you should meet your that and say here is the most vulnerable, still paying huge dividends, what action are we taking? i can assure you that we take forward these issues have identified there with our very committed staff down in brighton. we don't doubt the staff commitment. we doubt your actions. next it was the turn of the auditors. i think it's quite simple and for

many would argue that the boss, the ceo is on this much earlier and then in the case of carillion andherefore they will sort things out, it won't get in the sound —— head in the same direction. bankruptcy. we are talking about a lot of people with a huge influence on how we do things in this country. the earlier we bring these things public, the better, selling assets to raise more funds. above that story, a picture of janet yellen, the first ever woman to head the us federal reserve. she finishes her turn this weekend, what a brilliantjob. everybody who i have spoken to has agreed with that. a history maker on the front page of the ft and more women on the front page of the telegraph and other papers. is ongoing battle within the bbc about pay equality, carrie gracie in front ofa pay equality, carrie gracie in front of a parliamentary select committee on wednesday, as was tony hall, the director general of the bbc. this resonates more widely in society, companies are having to be reporting on the gender pay gap among their employees. i think she raises an interesting point in her tes

on tuesday, you'll have seen mps grilling senior executives from the failed construction company, carillions the turn of the government. the liaison committee, which is made up of the chairs of all the other committees, had summoned the cabinet office minister. but he was being very cautious in his answers. this exchange was typical. when we had the directors of carillion, past and almost present, in front of our select committees yesterday, one of the things we questioned them about was the changes in the rules about the claw—back of bonuses. many of the people we had in front of us yesterday had a big bonuses in the period leading up to the collapse of the business, the company changed its own rules, which make it harder to claw back those bonuses. one of the lessons from the global financial crisis was to have tougher rules about being able to claw—back bonuses go wrong at business. do you think we need to look again at the claw—back arrangements for bonuses so that we can get some of that money back? again, sitting here today, i am open—minded on not but there have been serious allegati

carillion executives lost for words.ot have to put up with hate and abuse 100 years after the first women got the vote in the uk. the women got the vote in the uk. the women and equalities minister, amber rudd, who was also home secretary, told the commons she would look at calls to pardon suffragettes. she was making a statement as mps commemorated the anniversary of the act which gave women over the age of 30 with property the right to vote. the room was awash with purple and green. i am proud to be part of the most diverse house of commons in british history. we have our second female prime minister. a third of those attending cabinet are women and we have the highest ever number of female mps. 0utside and we have the highest ever number of female mps. outside of politics we have seen so much progress since 1918. more women are in a more diverse range of jobs 1918. more women are in a more diverse range ofjobs than ever before and increasingly they are the top of theirfield. before and increasingly they are the top of

it told the committees looking into the collapse there are clear grounds for into whether carillion's major black hole in its finances earlier than july 2017. a strong start to the week, not many openin a strong start to the week, not many open in asia. many are closed for new year celebrations. japan is up strongly, following a strong close to the week in the us, the best week since 2015. just to say as well that we had a great day out of the states on friday about the economic outlook, all of that boosting sentiment in asia today. see you in a moment for the news briefing. before we get stuck into other stories, let's tell you that the uk government saying it cannot issue a medical cannabis licence for a six—year—old at the child despite calls from his family and a group of mps. alfie dingley is from warwickshire and regularly suffers violent seizures, a cannabis treatment he received in the netherlands improved his condition but it is illegal in the uk. charlotte alec has the story. —— gallagher. six—year—old alfie dingley has a rare form of epilepsy and suffers up to 30 violent se

it had saved nine hundred and 19 jobs by transferring them to new companies who are taking over carillion's a fire at nottingham railway station last month have arrested a woman on suspicion of arson. the fire damaged the roof of the recently renovated building and caused severe disruption. police investigating the death of one of the most famous stars from the golden era of hollywood, natalie wood, back in 1981 have named her husband, the actor robert wagner, as a "person of interest". the actress was found dead after going missing from a yacht off the coast of california. our los angeles correspondent james cook reports. # i feel pretty # i feel pretty # also pretty # also pretty # i feel pretty and witty and gay # in life natalie wood captivated the camera. in death mystery rangers. by the age of 25 she had three oscar nominations including one for this classic, rebel without a cause. but in 1981 on her body was found in a call off california's catalina island. she had been selling with her husband robert wagner, co—star christopher walken and the captain. i believe robert wagner was wit

the building of a new hospital in liverpool is delayed following the collapse of carillion, as formerons from mps. stock markets have experienced further volatility after dramatic moves in global share prices in the past 24 hours. the world's most powerful rocket has been launched tonight from kennedy space centre. experts say it could transform space exploration. and we have heard a lot today about women getting the vote 100 years ago. but the fact that many working class men only got the vote then has not been mentioned. tonight we ask if

especially after carillion., you can see jeremy corbyn leaping on this this week, he has been pushing the agenda, he will be talking about far from virgin are being punished for this franchise not working out, it looks as though they will have their franchise extended or not one of the other lines around the uk —— extended on one of their other lines. there is a feeling that despite things that keep going wrong, these companies come back for more and tender win contracts and ta ke more and tender win contracts and take more money from the public purse —— tend to win contracts. it links into the issue of carillion outsourcing, and there's a big theme growing up around this comment jeremy corbyn is in the place to ta ke jeremy corbyn is in the place to take advantage. —— around this, and jeremy corbyn. europe and asia catch wall streetjournal, this jeremy corbyn. europe and asia catch wall street journal, this is jeremy corbyn. europe and asia catch wall streetjournal, this is about equity markets falling sharply,

these will allow companies who lost money due to carillion get bank loans.ances surrounding carillion into consideration if individuals face problems repaying loans, overdraft or mortgages. the extent of the damage to the wider uk economy of one firm‘s collapse is coming into sharp focus. joe lynam, bbc news. the syrian 0bservatory human rights monitoring group said the pilot injected from the plane and was killed. but this hasn‘t yet been confirmed. video posted on social media appear to show the plane being hit, while other videos showed burning wreckage on the ground with a red star on a wing. advantage counsel introduces emergency spending controls because of what it financial challenges. the head of the fbi has defended its work after a classified memo was released. accusing it of bias against president trump and abuse of power. after getting caught in a scuffle with protesters last night, conservative mps jacob rees—mogg accuses the treasury of dealing its on brexit. britain‘s civil aviation authority has announced a review into airlines‘ seating polic

more grilling for carillion — this time it's those responsible for pensions and auditing.are staggering out onto the street thing, i thought it was surprised, you are paid to look after this. if you can stand the noise, get out of the chamber. we get the lowdown on volume. huge numbers of people outside this place disapprove, disapprove of this sort of behaviour. both sides stop it. but first, it was the feelings by oxfam which dominated the early part of the week. the sense of anger wasn'tjust down to the wrongdoing, the fact that charity workers had paid woman for sex in earthquake ravaged haiti, it was also the wake the organisation dealt with it and so oxfam bosses steeled themselves for two uncomfortable hour of cross—examination by a committee of mp5. first it was the issue of the commons made by this charity chief executive. you appeared to be downplaying this scandal using the parallel with the murder of babies in their cots which many people regarded as grossly inappropriate. can i give you the opportunity to apologise? certainty chairman, i do apologise. i was th

people are worried it could go the same way as carillion.ally low and winning the contract and then going back to the government to say, we need more money. and the issue of transparency, the delivering what they promised? he says there should bea they promised? he says there should be a better system to measure them. plastic has been in the news lately mainly because of the programme the blue planet. later today and all waste statistics will be published, recently wales has outperformed the rest of the uk at recycling household waste. john maguire is in an incubator find out household waste. john maguire is in an incubatorfind out why. people did a big clean of the beach last tuesday so the speech does look immaculate, wales has done extremely well, 50% better than the rest of the uk. so what are they doing so well that the rest of the uk is not? what lessons can be learned from the welsh way of dealing with waste? it‘s bin day in bridgend and on the kerbside, a rainbow of refuse. orange bags for cardboard, white for paper, brown for food.

carillion has been replaced on this project.l statement last march suffered a crippling profit warning four months later, and six months after that was liquidated. were the bosses rewarded for these failures? former chief executive richard howson was paid £1.5 million in salary, perks and bonuses in 2016. do you feel comfortable with the level of bonus you received in the year before the company that you ran collapsed ? yes, i do, for the attributes that i earned it for. half of that bonus is deferred and half of it was paid in cash. there will be heated moments to come in this postmortem. and there will be awkward ones. large numbers of people aren't going to get paid for their contracts. other people have lost theirjobs. and you're still all right. all of you. aren't you? simon jack, bbc news. 0k, time for christian's favourite story of the day, i think he wants to be on this rocket! no, we want you here on earth, christian, honestly! spacex, the company founded by elon musk, is due to launch the world's most powerful operatio

and carillion bosses are lost for words, as mps ask why they should be believed. the week in parliament, in half an hour, here on bbc news. good afternoon and welcome to bbc news. 0xfam has rejected claims that it covered up an investigation which found some of those sent to help in haiti in the aftermath of an earthquake there exploited local people for sex. 0xfam's chief executive said it did inform the charity commission, but admitted more could have been done to spell out the details of what happened. downing street says the government is reviewing its relationship with the charity in light of what it called the "truly shocking" reports. angus crawford reports. it was an earthquake that devastated haiti, killing more than 200,000 people, affecting millions more. aid agencies from around the world stepped into the chaos. 0xfam, with more than 70 years‘ experience, had hundreds of staff in the field. but an investigation by the times found that in 2011, four staff members were sacked and three others resigned over allegations of misconduct, including paying loca

capita is like carillion with knobs on, because carillion with knobs on, because carillion employs aroundof public sectorjobs. yesterday, its share price went into a steep nosedive, down by about 40% following a profit warning from the bosses. of course, the series, here we go again. could capita be another carillion? that would be terrifying for the thousands of people who work for the thousands of people who work for them. the slight nervousness among politicians is that they don't wa nt to among politicians is that they don't want to ring alarm bells. they don't wa nt to want to ring alarm bells. they don't want to make capita's position even more precarious by saying, oh, my goodness, here we go again. so it will be interesting to see how the government response to this debate. when it came to carillion, they faced a loss of criticism for the fact that they were still handing out whopping contract to carillion when it got into difficulties, including hs2. so it is a delicate path they will have to tread. cheers, norman. still to come: the breast cancer treatment described as life—chan

the big question is, in march 2017, carillion filed this document is a its finances were fine.to know who not to rush what and when? we have had response from shareholders today ranging from standard life aberdeen who say, we began selling in december 2015 and we did not think the company was taking the risks seriously enough. and one big shareholder has said that all clear grounds for an investigation into whether management knew or should have known about the need for this £850 million provision. the question will be, the company says, it was a big surprise to us, things went very bad very quickly and was able bigshot. mps want to know whether there is more to that. the focus will move to thursday when the auditors who signed off on these accounts will face mps and they will say, why did you sign these of when the company collapsed ? say, why did you sign these of when the company collapsed? it had a whole written it several months later and they want to know, what did they do to make sure the company's did they do to make sure the compa ny‘s accounts were did they do to make

. —— the construction firm carillion.ounced that. the sole surviving suspect behind the paris terror attacks in 2015 will go on trial in belgium today. salah abdeslam faces charges relating to a shootout he had with police while on the run in belgium in 2016. he faces a second trial relating to his involvement in the paris attacks at a later date. our europe correspondent gavin lee is at the court in brussels. gavin, salah abdeslam saying he wouldn't answer any questions, but he did speak, didn't he? he has spoken here. he said he was tired, that he wants to remain seated. he was driven from a high security prison on the french — belgian border in the early hours of the morning with a huge convoy, 200 officers, to secure this building and the transport route for the prisoner who was most described —— once described as europe's most wa nted once described as europe's most wanted man. he was on the run for four months. he said he will use his right to remain silent. he said it is not to signify he believes he is guilty, but

carillion is just effect that carillion has had on the lender.tedly in the frame as well, so in that respect it would almost be a big surprise if barclays was not involved in some ways. it is a story not just the barclays involved in some ways. it is a story notjust the barclays but all the big bank. they have all got these big bank. they have all got these big one—off items, whether it is loa n big one—off items, whether it is loan repayments, conduct and litigation charges for things like ppi, they have been costing these banks billions, i figure ppi, they have been costing these banks billions, ifigure was ppi, they have been costing these banks billions, i figure was about £6 billion in totalfor barclays in the year just £6 billion in totalfor barclays in the yearjust gone, about 25 billion in total in the last five years. if they can keep their nose clean, keep down and cut down on the loan repayments underlying there is a widely profitable bank looking to get out. the question is can they keep those costs down, particularly on the legal sid

at the time it went into liquidation last month, carillion employed 20,000 people in the uk.rtual currencies, such as bitcoin. the group says it's protecting people from running up debts they may never be able to repay. our personal finance correspondent simon gompertz is here. probably worth explaining a little bit more again about bitcoin. we keep hearing about it. what is it, how does it work? it is one of several what they call crypto currencies and they are basically invented currencies that operate on the internet. you can't hold them because they're not real, they are virtual, as you say. you can't keep them ina virtual, as you say. you can't keep them in a bank account. they are not regulated and controlled by the bank of england, so what's the attraction? well, they‘ re of england, so what's the attraction? well, they're quite secret so people don't really know who has the money, how it is behaved, so criminals have been using them, and also, for many, it has been a gamble. they have seen the values go up and up and then down and they have been attracted to get into

and carillion as well. it is certainly an issue. which is the star of the show but it is not the biggest? there are two things. prime has been a great advantage but also this tax reform has taken place in the us. with a more advantageous tax rate, investors like that. but amazon is ina investors like that. but amazon is in a heavy investment mode. they will continue investing. thank you. let's have a look at the markets. everything is down. we haven't got amazon which was up 6%. there is a slight fall in the price of oil. the pound against the euro is looking a bit weak. earlier we saw the pound bowing up bit weak. earlier we saw the pound popping up against the euro but it has sunk back down again. the ftse is down by half of 1%. the ftse has had a bad week. when we look back over the last few months, this is the worst week we have had for quite awhile. many thanks. let's bring you some breaking news coming in from washington. we were talking earlier at that the controversial republican memo on the fbi. president trump, we are hear

it is good for apprentices at carillion but some reports out this morning about carillion saying therehe industry is dominated by small firms, 98% of them are not employees or less we need to watch that closely, there isn't a lot of evidence so far but we will monitor that. stephen, thank you. carillion apprentices, there are about 1400 of them, about half of managed to find new roles and new apprentices elsewhere so —— apprenticeships elsewhere. good luck to the rest of them, thank you. they went in to the game calling themselves the underdogs but the philadelphia eagles caused a stunning upset overnight, beating the new england patriots to win their first super bowl. the singerjustin timberlake provided a dazzling half—time show but the action on the field outshone the showbiz. let's take a look at last night's action. meg oliver is a correspondent with the american network cbs. shejoins us now from minneapolis where the game took place. my my goodness me, you can see there has been a proper party! how wonderful! we at the uk love an underdog winning. so do we and i have to tell you,

we have seen bhs and carillion are similar examples of this, so the individual details will vary butt is important the lessons are learned from this case. pension freedom reforms have led to a boom in similar transfers over recent years. this report highlights that workers like richard need more protection. sian lloyd, bbc news, port talbot. you can reach me and most of the tea m you can reach me and most of the team on twitter. there's plenty more on the stories we have covered and others as well plus analysis on our website. you can of course download the bbc news app. time now for all the sports news in sport today. this is sport today, live from the bbc sport centre. coming up on this programme: mikaela shiffrin sets her sights on more medals after claiming her first gold at the winter olympics. aksel lund svindal becomes the oldest olympic alpine skiing champion at the age of 35. and defending champion karolina pliskova is knocked out of the qatar open. thanks forjoining us. after days of delays due to the weather, mikaela shiffrin started her eagerly awaited winter olympics run

and our top story here in the uk: former executives of carillion have spoken publicly for the first timend now on bbc news, all the latest business news live from singapore. asian stock markets surged this morning after wall street bounces back. bowling touches down at the singapore airshow. what deals will they make? —— boeing. good morning, asia. hello, world. glad you could join us for this edition of asia business report. i am rico hizon. we start off with asian markets and they have opened higher after the mulch will stay on wall street, which saw the main us indices plunge for making record gains. here is where things stand right now. the nikkei is up by 3%, thatis right now. the nikkei is up by 3%, that is 660 points. the asx all 0rdinaries index is up by i.2%, and the hang seng index, according to the hang seng index, according to the futures markets, will be opening in positive territory. we will have the initial numbers for you in about five minutes‘s time. it is important to keep this wild ride in perspective over a longer period because the markets look very different. the ni

here in the uk, many were watching the grilling of the former bosses of carillion.ompany, it was a huge employer in this company, but also around the world. most of its contracts on many of them work with government in the uk, providing a loss of services to all sorts of areas ‘— loss of services to all sorts of areas —— lots of services. this colla pse areas —— lots of services. this collapse and went into administration. there were questions asked about how this company was run at the very top and why it was allowed to go under. how did you feel these former bosses did. the chairman, philip green, saying i ta ke full chairman, philip green, saying i take full responsibility for this. all of these people take full responsibility, but they still get their bonuses and they get paid and they have the full pension benefits, whereas a lot of people who were let go without pension benefits. one of the mps, the members of parliament, said the cfo of the company was asleep at the wheel. it was notjust him asleep at the wheel, i ask myself where were the auditors? pricewate

today we heard from carillion's former biggest shareholders.should be an investigation into the compa ny‘s there should be an investigation into the company's former management. another big show —— shareholder, standard life aberdeen, said carillion management had played down any potential risks. a canadian shareholder needed four attempts to get a meeting with the former ceo. we have had a set up people working continued faithfully to work. there we re continued faithfully to work. there were people on the bridge of the company drawing their mega salaries. as soon as the share log —— shareholders had a look, they rent for the hills. that was the real warning sign. none of the regulators seemed to be aware of what was happening. and you are left holding shares in carillion when it was liquidated lost all of their money. —— anyone left holding shares. thousands of former employees lostjobs left holding shares. thousands of former employees lost jobs and livelihoods. more on that breaking news that 300 staff could be axed at russell hume. it isa

especially after carillion.ll be talking about far from virgin are being punished for this franchise not working out, it looks as though they will have their franchise extended or not one of the other lines around the uk —— extended on one of their other lines. there is a feeling that despite things that keep going wrong, these companies come back for more and tender win contracts and ta ke more and tender win contracts and take more money from the public purse —— tend to win contracts. it links into the