many don't realise they never actually own the car but the financial watchdog, the fca, said last months that people are signing up for deals which they can't afford, the other is that the finance companies are stoking up a debt bubble which will burst if they can't get rid of the cars at a decent price in the secondhand market when people hand them back. we do not share those concerns. at the end of the day, lenders only have a sustainable business model if they can confidently expect to get the money they lend back. that means lending is responsible. but no one's putting the brakes on car credit at the moment. the concern will grow if records keep being overtaken. with me is the motor industry correspondent for the financial times. peter campbell, thank you for coming in. people clearly have an appetite for new cars, is that driving these high numbers? it is. car loans are linked to car sales and they rose in the first quarter. much was the best month for car sales since records began. that is partly because there was a tax change which came in in april which meant people pod cars ear

and fca could see criminal action. the company says they will fight any of those charges. i think it's important, too when you talk about what could happen, if we get that suit. analysts over at evercore were looking at the numbers, and the maximum fine that they could face is 4$4.6 billion. if you look at what happened with volkswagen, analysts are saying that's not likely that it would get that hard. and if, in fact, they do get in trouble with authorities, it could be a software fix. but we're still a long way to go on that one considering fca wants to fight the charges. >> in the case of vw, we saw the civil claims, and those ran up the tally. do you not think that history will repeat itself in the case of fiat chrysler? >> it's difficult to say. as we were talking about this morning, the latest revelation that the volkswagen ceo is now being looked at, an investigation about market manipulation. it's not just the fact of defeat devices and what they knew, but it's the fact should they have disclosed to shareholders earlier. it's too early to make those comparisons. on

it is gm, fca, fiat chrysler as well, they have got too many cars out there. if you look at layoffs across the auto industry, not just ford, gm is i lag people off. fiat chrysler laying off 1400 people coming in july. this is happening industrywide, people don't buy cars, well, you don't build cars. you don't want to build cars, if you do, sell them at a loss, they will be in washington saying can we have a bailout? david: we got to remember ford didn't take any bailout money. irony hereford has the best-selling vehicle in america right now, the truck, the f-150. reporter: f-150. explorer is made at that plant behind me. not too far behind. they're doing okay. it is profitable. david: little carries and electric cars. jeff flock, thank you very much. appreciate it. melissa: business and government agencies around the world still reeling from the massive cyberattack that targeted at least 150 countries and now we know who is behind it. david: a major threat to our loved ones in nursing homes. drug resistant superbugs are on the rise there. wait until you hear t

i think the bank of and what, thinka, the fca, i executives should be held accountable.hink the senior management is a very important piece of right relation in the united kingdom. you know, since i've got here, one of my goals was to be very transparent with regulators. in many ways, we are partners in trying to avoid the next financial crisis. a very constructive dialogue between barclays and the bank of england and the pra and the fca. that is very important to us. i respect the regulatory framework here. and let's see how this all plays out. the unthinkable happens and you are deemed unfit to run barclays, does the bank have a succession plan? >> i've got the full support of the board. the shareholder vote today. let's let it run its course. erik: what i can't understand and i speak for other people is what would motivate you to exercise bad judgment? know, there are so many things going on in front of the chief executive officer of a bank with the complexity of barclays. there are decisions taken everything of a. -- every single day. i thought i was trying to protec

many don't realise they never actually own the car but the financial watchdog, the fca, said last monthof interest and irresponsible lending. and it would investigate. there are two worries about this, one is that people are signing up for deals which they can't afford, the other is that the finance companies are stoking up a debt bubble which will burst if they can't get rid of the cars at a decent price in the secondhand market when people hand them back. we do not share those concerns. at the end of the day, lenders only have a sustainable business model if they can confidently expect to get the money they lend back. that means lending is responsible. but no one's putting the brakes on car credit at the moment. the concern will grow if records keep being overtaken. can chelsea clinch the premier league title tonight or will west brom spoil the party? victory at the hawthornes would give chelsea an unassailable10—point lead and their fifth league title. david ornstein reports. for chelsea the celebrations have already started. glory is within their grasp. tonight they can secure their

the bank of england, the fca, executives should be held accountable.nior managers, very important piece of regulation in the united kingdom. have got here, one of my goals was to be very transparent with regulators. in many ways, we are partners in trying to avoid the next financial crisis. it is a very constructive dialogue between barclays and the bank of england and the fca. it is very important to us. i appreciate the framework here. we will see how this plays out. if the unthinkable happens, and you are deemed unfit to run barclays, does the bank have a succession plan? >> i have the full support of the board and the shareholder vote today. let's let the investigation run its course and see what happens. >> what i still cannot understand, and a speak for others as well, what would motivate you to exercise bad judgment? there are so many things going on with an executive officer of a bank, the complexity at barclays. there are decisions every day. i thought i was trying to protect a colleague who was vulnerable, from a malicious attack. but it shou

there is a very constructive dialogue between barclays and the bank of england and the fca that is importantect the regulatory framework here and let's just see how this all plays out. erik: so what is the point of sharing that excerpt in the interview, it is because regulators are evaluating his fitness for the job and judgment is part of the fitness for the job. let's be clear in how we compare the situation at barclays to the situation at other banks. mark, yesterday we compared the of johnn with that stumpf and wells fargo. let's consider some of the other ceos that have been ousted over the past several years. bob diamond and a pinnie jenkins. .- anthony jenkins why were they ousted or fired? they were ousted or fired from failures of management or failures of supervision, not for responding to a phony email, not for trying to defend someone which is what led to the whistleblower case. there is a different to be drawn. i am not trying to defend jeff staley, i'm am trying to point out the way you look at this situation needs to be different from the way you look at those other situations

he will be interviewed by investigators and lawyers who work for the fca or prudential regulation authorityan only count on his colleagues, on members of the board, on the chairman to defend him. let's remember one thing. people have tried to draw comparisons between jeff staley and john stumpf. john stumpf was ejected from wells fargo by failing to oversee not a criminal enterprise but something close to a fraudulent enterprise. he wasn't directly responsible for it but bad things were happening inside the bank. what jes staley was trying to do was defend somebody whose integrity he felt was being maliciously maligned. he still is an apologetic for wanting to do that. it's the manner in which he went about it that was wrong. very different between what's happening at barclays and what's happened at wells fargo. mark: erik schatzker, great to see you in london. more next on the acting fbi director andrew mccabe before a senate committee right there. the end ofking at the dni talking about worldwide -- the headhe head of the dni talking about worldwide risks. we've heard from the chair of th

in london, the fca brought in ring fencing. barclays is going through that.he view is, "a," they think this is unlikely despite him saying it. but "b" f it does come in, it won't be as bad as a pure and simple return of glass-steagall. the rally towards the end of the day was based on the eblgs pexpn that this won't come. for the big banks it would be a bad thing for share prices. >> the trump administration reportedly plans to replace the chief overseer of federally chartered banks. the white house is preparing to replace comptroller of the currency, thomas curry as soon as this week. he was appointed by president obama for a five-year term which expired in april. the comptroller oversees hundreds of bank supervisors stationed inside large financial firms. this is interesting. one of the areas where people have been disappointed in the first 100 days is the lack of new appointments to area like most crucially the fed vice chair of supervision which we still haven't got. an added aspect that was confusing investors is thomas curry's term, he's seen as a heavy

there is a constructive dialogue between park, the boe, and fca. it is important to us.he framework, and let's see how this plays out. happense unthinkable and you are deemed unfit to run barclays, does the bank have a plan, a succession plan? >> i have the full support of the board. shareholder vote today. let's let the investigation run its course. >> what i still can't understand, and i know i speak for other people as well, is what would motivate you to that judgment? there are so many things in front of the chief executive officer of a bank with the complexity of barclays, decisions taken every single day. i thought i was trying to protect a colleague who was runnable from a malicious attack , but i should not have gotten involved as i did. that was a mistake. , noour friends, colleagues you to be passionate, but even-tempered. as a person who prides himself and aigh ethical standard high standard of conduct, is that same person a person , eithereither vindictive, or emotional at times. >> i don't think i am vindictive. >> do what degree do you worried that your act

many don't realise they never actually own the car but the financial watchdog, the fca, said last monthr deals which they can't afford, the other is that the finance companies are stoking up a debt bubble which will burst if they can't get rid of the cars at a decent price in the secondhand market when people hand them back. we do not share those concerns. at the end of the day, lenders only have a sustainable business model if they can confidently expect to get the money they lend back. that means lending is responsible. but no one's putting the brakes on car credit at the moment. the concern will grow if records keep being overtaken. in a moment a summary of the business news this hour but first the headlines on bbc news: jeremy corbyn says he would do everything necessary to protect the safety and security of the uk if his party wins next month's election. he condemned almost routine military interventions of recent years. the liberal democrats will be the first major party to include the legalisation of cannabis in their election manifesto. ina bid in a bid to stop drugs gangs profi

many don't realise they never actually own the car but the financial watchdog, the fca, said last monthis, one is that people are signing up for deals which they can't afford, the other is that the finance companies are stoking up a debt bubble which will burst if they can't get rid of the cars at a decent price in the secondhand market when people hand them back. we do not share those concerns. at the end of the day, lenders only have a sustainable business model if they can confidently expect to get the money they lend back. that means lending is responsible. but no one's putting the brakes on car credit at the moment. the concern will grow if records keep being overtaken. thousands of giant jellyfish thousands of giantjellyfish have washed up on welsh beaches in the past few days they have been spotted in pembrokeshire and anglesey. newquay has been a hot spot with more than 300 seen in what has been called a mega swarm. we don't normally get as many as we are seeing now and that is unusual. last year was an unusual year in that we did not see them until late on in the season. this y

very constructive dialogue between barclays in the bank of england and the pra and fca.y important to us. i respect the regulatory framework here, and let's see how this plays out. the unthinkable happens and you are deemed unfit to run barclays, does the bank have a plan for succession? jes: i have full support of the board. you saw the shareholder vote today. we will let it run its course and see what happens. erik: what i still cannot understand, and i speak for other people, as well, is, what would motivate you to exercise that judgment? um, you know, there are so many things going on in front of a chief executive officer with a bank with the complexity of barclays, decisions taken everyday. i thought i was trying to protect a colleague who is vulnerable from a malicious attack. but i should not have gotten involved as i did. that was a mistake erik: let's just put it this way -- your friends, your colleagues know jes staley to be passionate but even-tempered. as a person who pride sums up on high ethical standard and a high standard of conduct -- as a person who pri