well now the financial conduct authority says words are bad we can't do anything we don't have the authority to write this is my love hate relationship with the united kingdom on one hand you love it because it's shambolic and fraudulent. but he got to hate it because thousands tens of thousands of people had their lives destroyed by r.b.s. just a bit just to review r.b.s. sixty thousand businesses were destroyed so that they could run in there grab the assets and sell them to a separate division of the bank at a knock down smash down price to buddies friends of theirs who then mark it up and made quick profits and so this at first was dismissed as a conspiracy theory and the lunatic fringe was there just like good business people they just don't know how to run a business but dogood pursued by people like neil mitchell you know on the show many times can't digging and digging and digging and to get more and more proof so then it became incontrovertibly undeniable mass financial terrorism by royal bank of scotland on its own people in the u.k. for i and the m.c.a. at that moment presented wi

well now the financial conduct authority says. are bad we can't do anything we don't have the authority to write this is my love hate relationship with the united kingdom on one hand you love it because it's shambolic and fraudulent. but he got to hate it because thousands tens of thousands of people had their lives destroyed by r.b.s. just a bit just to review r.b.s. sixty thousand businesses were destroyed so that they could run in there grab the assets and sell them to a separate division of the bank at a knock down smash down price to buddies friends of theirs who then mark it up and made quick profits and so this at first was dismissed as a conspiracy theory and the lunatic fringe was there just like good business people they just don't know how to run a business but dogood pursued by people like neil mitchell who on the show many times can't digging and digging and digging and to get more and more proof so then it became incontrovertibly undeniable mass financial terrorism by royal bank of scotland on its own people in the u.

assets of a lot of small and medium sized enterprises across the united kingdom well now the financial conduct authority says. oops our bad we can't do anything we don't have the authority to go.

regulators powers do not apply oh apparently the united kingdom has this regulator called the financial conduct authority and that was established after the financial crisis and they made you know while they were having all those inquiries to distract the population they said oh population voters all those who have basically your taxes have financed the rescue of all these banks and we're going to keep on looking forward not back about their crimes but. is we've set up this financial conduct authority to make sure it never happens again well now that emerged that the taxpayer owned royal bank of scotland georgi group did indeed smash and grab the assets of a lot of small and medium sized enterprises across the united kingdom well now the financial conduct authority says. oops our bad we can't do anything we don't have the authority to write this is my love hate relationship with the united kingdom and one hand you love it because it's so shambolic and fraudulent. but you got to hate it because thousands tens of thousands of people have their lives destroyed by r.b.s. just a bit just to review r.b.s. sixt

keep note of that ok but here's a tweet from last week with sky news and they said the financial conduct authority says royal bank of scotland senior managers will not be disciplined for misconduct over the treatment of small firms and the bank's global restructuring group as the city regulators powers do not apply so apparently the united kingdom has this regulator called the financial conduct authority and that was established after the financial crisis and they made you know while they were having all those inquiries to distract the population they said oh population voters all those who have basically your taxes have financed the rescue of all these banks.

now the city watchdog, the financial conduct authority, and the pensions regulator have unveiled a campaignarning people to watch out for the warning signs like calls for a pension review or highrolling investment in hotels or green energy schemes. prevention is better than fewer. we want to give people handy tips to be aware of, particularly if they are being confronted by fraudsters. the top of that list is looking on the website to see if a pensions firm is authorised, a quick check to stop your money to support —— disappearing fast. this is the briefing from bbc news. the latest headlines: there are still conflicting reports about the situation in the afghan city of ghazni. nato officials describe a four—day taliban assault on the city as a failed attack. bbc sources on the ground say there's still fighting going on and nearly 100 soldiers have died. the turkish lira has kept on plunging in value. the white house is denying that new american tariffs on turkish metals have caused the currency crisis. president erdogan has accused the us of stabbing turkey, a nato ally, in the back. faceb

in the united kingdom only a week or two ago the financial conduct authority said there was no evidence they couldn't prosecute they had no authority to prosecute r.b.s. for their global restructuring group smashing in grabbing the assets of all the small and medium sized enterprises here senior executives and we'll go over some of the quotes they were saying these swear words that are going to be bleeped out so you the audience don't get to hear what they're actually saying about the stuff they're selling you and destroying your economy that everybody is now seventy thousand dollars or software i'm sounding the alarm on this for years and usually you know my wings get clipped and some by some degree you know they can't say anything really outrageous about r.v.'s or these bankers because you know it's not cool or it's uncouth to describe them in the way that i have described them in the past but clearly royal bank of scotland you know when they're attacking british people that's one thing because of who cares british people there are a micro. garbage who cares but when they attack ameri

and the united kingdom only a week or two ago the financial conduct authority said there was no evidence they couldn't prosecute they had no authority to prosecute r.b.s. for. their global restructuring group smashing in grabbing the assets of all the small and medium sized enterprises here senior executives and we'll go over some of the what they were saying these swear words that are going to be bleeped out so you the audience don't get to hear what they're actually saying about the stuff they're selling you and destroying your economy that everybody's now seventy thousand dollars or software i'm sounding the alarm on this for years and usually you know my wings get clipped in some big by some degree you know they can't say anything really outrageous about r.b.s. or these bankers because you know it's not cool or it's uncouth to describe them in the way that i have described them in the past but clearly royal bank of scotland you know when they're attacking british people that's one thing because of who cares british people there are the micro. garbage who cares but when they attack am

four years ago the financial conduct authority found wonga's debt collection practices were unfair, andy £2.6 million to compensate 16,000 customers. pope francis has refused to respond to accusations by a former vatican ambassador that he covered up allegations of sexual abuse. an american archbishop makes the claims in an 11—page letter which concludes with a call for the pope to resign. reporters asked pope francis about the accusations as he returned from his two—day visit to ireland, during which he met with abuse survivors and asked the congregation at the open—air mass for forgiveness. the daughter of a couple who died whilst on holiday in egypt has told the bbc she believes something in their hotel room was to blame for their deaths. susan and john cooper, from burnley, were staying at the steigenberger aqua magic hotel when their daughter, kelly ormerod, discovered them unwell. they died a short while after. egyptian investigators say no trace of poisonous gas has been found in the room. as soon as they went into the bedroom, my daughter said that they could smell something tha

the financial conduct authority and the pensions regulator say people are being tricked out of an averageorted. kevin peachey has more. first, jennifer‘s trust was wanted in her savings were lost, stolen by the rosters who offered a return too good to be true —— fraudsters. the rosters who offered a return too good to be true -- fraudsters. he knew everything. i asked questions and he had the answers to everything. the scam began with a cold call from someone claiming to be an investment adviser. he promised an instant cash sum by a regular return, enticing jennifer and he had the answers to everything. the scam began with a cold call from someone claiming to be an investment adviser. he promised an instant cash, followed bya promised an instant cash, followed by a regular return, enticing jennifer e her husband into transferring their pensions of it was the last they saw the money. life is going to be very difficult from now on, trying to think about what are we going to do when we get older because we have nothing to fall back on now. in cases like this fraudsters call, text or e—mail o

the financial conduct authority and the pensions regulator say people are being tricked out of an averageust was won, then her savings were lost, stolen by the fraudsters who were too good to be true. who offered a return that proved too good to be true. at first i didn't think anything was amiss, it was just he knew everything. i asked questions and he had answers to everything. the scam had begun with a cold call at a time when her finances were strecthed. the promises of a cash sum with a regular return pushed jennifer and her husband into investing and losing well over £50,000. it was the last they saw of the money. life is just it was the last they saw of the money. life isjust going to be very difficult from now on trying to think about what reagan do when we get older because we have nothing to fall back on. in cases like this fraudsters call, text or e—mail out of the blue, offering a free pension review and exploiting the greater access to the pension pots that save rs access to the pension pots that savers now have from the age of 55. i convince victims to transfer their savings

the financial conduct authority recently said to banks they have three months to talk about how they a story that we will see more about, tsb or no tsb. in that senseit more about, tsb or no tsb. in that sense it is a wider issue. but we finish with the telegraph, it too stories that we want to talk about. a lovely picture here arejulie cam fox, carnival queen, at this week and's notting hill carnival. but a serious tale behind this picture. she looks fantastic. and the colours and you know the floats, and everyone will look amazing on sunday and monday. but there is a more serious issue at stake, which is the mayor has introduced these security arches for the first time. and these are the people to pass through and there will detect whether people are carrying a weapon. that is designed to make it safer for everyone. but it is against the backdrop of growing violence within the capital and the difficulties that have been experienced by the matt ryan to combat that. there are discussions about what is causing it. sadiq khan would say that comes to police have made difficult to tackle

kingdom are seeing more potential problems in the financial sector than in many years the financial conduct authority the f.c.a. has recorded more than five hundred open investigations since justice last april that's up one hundred from a year ago same time according to f.c.a. the list of eighty six potential financial crimes and seventy five insider trading matters is included in that f.c.c. has the authority to criminally prosecute culprits involved in such matters and while the number of cases are on the rise some of complain that f.c. is more lax than in the past citing figures which show actual fines for a violations of the law or a seven year low. and despite the fact that india remains the world's fastest growing domestic aviation market two large airlines in the country jet airways and indigo are stressed and struggling to remain competitive missed higher fuel costs and a fairly weak rupie jet which some say has lost roughly seventy percent of profits this year alone is reportedly looking to raise cash and experts expect a second consecutive quarter of losses and to go profit profits have rep

the financial conduct authority and the pensions regulator said that people are being tricked out offeared the problem could be far wider withjust a minority feared the problem could be far wider with just a minority of scams ever reported. half of premier league clubs could have played in empty stadiums and still have made a profit in the first season of the current broadcast deal. that's according to research by the bbc. in the 2016—17 season, which saw record global tv revenue, matchday income contributed less than 20p in every £1 earned by 18 top—flight outfits. natalie pirks takes a look at the changing way clubs are being funded. football but that the fans is no thing, as the famous quote goes. but figures today show supporters are not quite as important as they used to be. pedro went for that! and pedro has gone in front! thanks to an £8.3 billion tv deal that kicked in in 2016, half of premier league clu bs in in 2016, half of premier league clubs that season could still have a profit without a single fan coming to matches. for some clubs, up to 80% of the revenue comes from

raking it m, rates of interest and was raking it in, but in 2015 it was censured by the financial conduct authority out letters from fa ke practices, sending out letters from fake debt management companies, for example. it had to pay compensation on those. then there was a government clamp—down, capping the amount of interest that could be charged, and the kind of administration fees that wonga could put in place, and then of course there was a whole load more claims from people who said that their affordability checks have been carried out, that the company had been negligent, and the company was paying out a lot of money on those. claims management companies were introducing claims in bulk, and as a result, there was so much money going out of the door and not enough coming in, it had no option but to file for administration. been swamped because they couldn't meet the time deadline, but the interest rates were exorbitant, were they? £250 loan and you are paying £150 in interest. absolutely, and particularly in the early days before the caps came in. this was the central controversy of the payday

the pensions regulator and the financial conduct authority are launching a new campaign, to warn people. jeremy corbyn has clashed with the israeli prime minister on twitter, as the row over mr corbyn's presence at a ceremony said to have honoured the perpetrators of the 1972 munich terror attack continues. benjamin netanyahu said mr corbyn deserved "unequivocal condemnation" for laying a wreath on the grave of one of those behind the atrocity. but the labour leader said mr netanyahu's claims are false, and that he attended the event in tunisia in 2014 as part of a wider event about the search for peace. labour said mr corbyn did not lay any wreath. some breaking news this morning, the communications regulator 0fcom has fined royal mail £50 million for breaking competition law. the regulator received a complaint from whistl, which has been challenging royal mail in delivering business letters in some parts of the country. it said royal mail had breached rules by charging companies that delivered letters directly more for access to royal mail's network than companies that didn't. around

and and the united kingdom only a week or two ago the financial conduct authority said there was no evidence they couldn't prosecute they had no authority to prosecute r.b.s. for their global restructuring group smashing and grabbing the assets of all the small and medium sized enterprises here senior executives and we'll go over some of the quotes they were saying these swear words that are going to be bleeped out so you the audience don't get to hear what they're actually saying about the stuff they're selling you and destroy your economy that everybody's now seventy thousand dollars worse off well i'm sounding the alarm on this for years then usually you know my wings get clipped and some by some degree you know they can't say anything really outrageous about r.b.s. or these bankers because you know it's not cool or it's uncouth to describe them in the way that i had described them in the past but clearly royal bank of scotland you know when they're attacking british people that's one thing because it's who cares british people they're the micro third of garbage who cares but when they at

the financial conduct authority and the pensions regulator say people are being tricked out of an average, with just a minority of scams ever reported. kevin peachey has more. first, jennifer's trust was won, then her savings were lost, stolen by the fraudsters who were too good to be true. he knew everything. i asked questions and he had answers to everything. the scam had begun with a cold call at a time when her the promises of a cash sum with a regular return pushed jennifer and her husband into investing and losing well over £50,000. it was the last base all the money. life is just it was the last base all the money. life isjust going it was the last base all the money. life is just going to it was the last base all the money. life isjust going to be it was the last base all the money. life is just going to be very difficult from now on, try to think about what we are going to do when we get older because we have nothing to fall back on now. in cases like this fraudster ‘s call, text or e—mail out of the blue offering a free pension review, exploiting the greater access to pension po

in the united kingdom only a week or two ago the financial conduct authority said there was no evidence they couldn't prosecute they had no authority to prosecute r.b.s. for their global restructuring group smashing and grabbing the assets of all the small and medium sized enterprises here senior executives and we'll go over some of the quotes they were saying these swear words that are going to be bleeped out so you the audience don't get to hear what they're actually saying about the stuff they're selling you and destroying your economy that everybody is now seventy thousand dollars or soft sounding the alarm on this for years then usually you know my wings get clipped and some by some degree you know they can't say anything really outrageous about r.b.s. or these bankers because you know it's not cool or it's fun could. to describe them in the way that i had described them in the past but clearly royal bank of scotland you know when they're attacking british people that's one thing because of who cares british people their micro. garbage who cares but when they attack americans like

financial conduct authority, a new requirement for companies considering an ipo. company will decide by september 20 whether to proceed with the plan. a move would test investor optimism in the country's post-brexit automotive industry. is telling traders to be wary of reading the federal reserve chairman's comments last week as dovish for the path of interest rates. that comes after 10 year treasury yields fell friday after jerome powell's speech at the kansas city fed's symposium where he said "there does not seem to be an elevated risk of overheating." spread over two year yields is close to the lowest since 2007. that is your bloomberg business flash. matt: juliette sally in singapore. we are minutes from the open. coming up, a look at your stocks to watch, including standard chartered. this is bloomberg. ♪ six minutes to the start of trading. stocks we need to be watching into the open. qe -- anoking at i apple supplier. and looking at standard chartered. the french distillery has raised its profit forecast for the year today. , and theted to rise 7% improved

james, this one the situation, given the new rules that came in from the financial conduct authority, no longer allowed to do that from regulatory reasons, but they've also had to pay out a lot of money when it comes to claims that they we re when it comes to claims that they were hit with before 2014, any loans they gave before then, a huge number of claims in there. you cannot rule out the reputational damage it causes. payday loans in general get bad press for the huge amounts of interests they can charge even though they are capped, there is huge reputational damage for the whole industry. it doesn't look like that will change. the issue being, when wonga needs more customers at this time, it's not forthcoming. and when they are paying out so much in terms of fines and the regulation is changing, it is a difficult time. positive sentiment around off the back of the us—mexico arrangement. even though canada hasn't put its signature or any commitment to what has been agreed, the canadian dollar is rising? yes, the canadian dollar has been incredibly strong. over the weekend we had a

kingdom are seeing more potential problems in the financial sector than in many years the financial conduct authority the f.c.a. has recorded more than five hundred open investigations since just this last april that's up one hundred from a year ago the same time according to f.c.a. the list of eighty six potential financial crimes and seventy five insider trading matters is included in that f.c. has the authority to criminally prosecute culprits involved in such matters and while the number of cases are on the rise some of complain that f.c.a. is more lax than in the past citing figures which show actual fines for violations of the law or a seven year low. and despite the fact that india remains the. world's fastest growing domestic aviation market two large airlines in the country jet airways and indigo are stressed and struggling to remain competitive missed higher fuel costs and a fairly weak rupie jet which some say has lost roughly seventy percent of profits this year alone is reportedly looking to raise cash and experts expect a second consecutive quarter of losses and to go profit profits hav

now the city watchdog, the financial conduct authority, and the pensions regulator, have unveiled a campaign urging people to watch out for the warning signs, like calls offering a free pension review, or high—rolling investments in hotels or green energy schemes. prevention is better than cure, so we want to give people some really handy tips to be aware of, particularly if they are being confronted by fraudsters. top of that list is looking on the fca website to see if a pensions firm is authorised. a quick check to stop your money disappearing fast. kevin peachey, bbc news. police in staffordshire tell this programme it's only a matter of time before someone dies from using the synthetic drug, monkey dust. they say its prevalence on the streets of stoke—on—trent is now a public health crisis. monkey dust users often experience extreme paranoia and hallucinations after buying the drug on the streets for as little as two pounds. we will have more on this story later in the programme. the black cab rapistjohn worboys has reportedly been questioned by police over allegations of non—recent sex

the financial conduct authority is looking at what it needs to do about high cost credit overall, butng to be thinking in a clear—headed way and feeling like there are many options. the first devices to get yourself in a safe position so you can get through the next month without borrowing any more money. and that will probably mean talking to a debt management company such as step change. they can help you make arrangements with your creditors to pay back amounts which you can afford every month. at the moment, too many people are robbing peter to pay paul, to pay one loan, they go and take out another loan, or they put some more on the overdraft or credit card. and thatjust leads to on the overdraft or credit card. and that just leads to a spiral which gets worse and worse until you are borrowing from a lot of lenders and you just can't manage. the sooner you just can't manage. the sooner you stop and say, i need some help, there is help out there, ask the debt advice, and people will get help with that. just quickly before i let you all go, a thought from you on frank field, stella

we really want to see the financial conduct authority use the power it has an actually fulfil its dutya debt upon to seek help as quick as they can. good advice. thanks for explaining all of that. really interesting. two sides to every coin, clearly in this case a lot of people relied on it but criticism as well of those astronomical interest rates. such an impact on people as well. thank you very much. nick is in central london with a look at this morning's weather. tell us where you are. i don't feel too threatened. at crossrail place roof garden. to ability among the hustle and bustle among them a trading area. the power blocs around me and then you have this week and come in and have your lunch. it is a chilly start today. i left the house with a shirt and have a ready to jump left the house with a shirt and have a ready tojump and left the house with a shirt and have a ready to jump and jacket. we were below freezing in the highlands in scotland. plenty of fine and dry weather on the way across the uk. it is high pressure, which is nudging into us, but there is a weather front int

addition to sanctions, we are also strategically deploying other economic authorities to disrupt russia's illicit financial conduct and harden the international financial system against its creation. engage oury get -- allies to augment the impact of our sanctions. by strategically leveraging all of our complementary authorities, we are increasing financial pressure on russia to advance our national security priorities while simultaneously mitigating collateral impact on the united states, our european allies, and the global economy. there is no question that we have imposed major costs on russia. yet the significance of our actions and other financial measures must ultimately be measured in terms of their strategic impact. so russia's maligned activities continue, it's a venturesome has been checked by the knowledge that we could bring even more economic pain there using our powerful reigns of authorities and that we will not hesitate to do so if it's conduct is not demonstrably changed. thank you. >> thank you. members of the committee, think you for the opportunity to discuss our ongoing efforts to mitigate cyb

financial conduct and a parting with international financial service. we regularly get engaged. especially those in europe to coordinate these efforts and augment the impact of our sanctions. and her other actions. by leveraging all of our authorities we are increasing financial pressure on russia to advance our national security priority while mitigating the clinical impact on the united states our european allies in the global economies. there is no question that we have imposed major costs on russia. the significant other actions and of her actions and her other financial measures must ultimately be measured in terms of the strategic impact. it has been checked by the knowledge that we can bring even more economic pain to bear using our powerful way range of authority and that we will not hesitate to do so if the conduct does not end significantly. thank you. the ranking member brown. members of the committee. thank you for the opportunity to discuss the ongoing efforts to mitigate risks to our nation's critical infrastructure. safeguarding cyberspace is a core movement in an area that i have an honor to leave -- lead. one of the strategic threats to the united states holding the national security and economic prosperity and int