government institutions and the number of states that have development banks and the left wing democrats are working also on and on and a national investment bank it would have a very bizarre fight between the the say the bank of england and this national development it would be five it would be working together i mean labor. has developed a framework where they would collaborate and indeed they want to change the the mandate of the bank of england so that focuses not just inflation but on things like productivity or growth work early we're good at say already concentrated but his mandate is mainly inflation menu station. but he now it would have much more real economy monday and it would try and direct also the credit from private banks a bit more towards the real economy because one of the speakers in the launch of this book yes. made the point that only ten percent ten percent of total bank lending in the u.k. today goes to corporate lending most of it goes to basically speculative activities within the financial sector or to mortgage lending so you know and that is a moment merely to rich people you know making of things you

the shadow chancellor of the exchequer what does he think of your research and work on national development banks first of all i'm delighted to be here. john mcdonald has been very interested in the research of this book because he's thinking of creating an ambitious national investment bank and he wants to learn from the international experience to big advantage actually to be a late comer because the british can learn from the good and bad lessons mainly the good lessons from the international experience countries like germany the most successful country in europe has got this massive national development bank a w. france china south korea canada most developed countries have there are many middle income countries have them and the u.k. is very much an outlier it's a sort of known. among for example the g seven european countries so it's really the only one that doesn't have a proper national development bank and so i think labor. this proposal is is is straight in the mainstream in that sense is is is perfectly correct because if you have an ambitious program of structural transformation to gr

which we talk about a lot, and they are viewed as a last resort for developed nations and developing nations. he he has criticised world banked any money from the world bank and poverty alleviation should be seen them accent elsewhere. and that is interesting due to donald trump and his trade war is with china. we have about 20 seconds but what has reaction been to the tap on the shoulder? some people have seen maybe now is the time to not have an american head of the world bank and traditionally a american leads the world bank and maybe it needs a rethink and this might not be a bad choice. so we will see how it plays out. thank you for bringing us up with the business news. we did have another half hour of outside source to come so please stay with us. let's have a quick round up of some other stories going on across the globe and start with north america, quite a bit going on there and satellite picture for the last 2a hours shows that strip of cloud which is an area of low pressure and some very heavy rain mixed into that across the rockies and this area of clouds is no bearing and bringing heavy snow and places and a t

national interest? i am banking on this development that there is going to be the emergence of an opinion in america whichof the allegation of powers that the president is practising, and wants a more amenable person. some people look back and think that ronald reagan was an idealogue but he was a compromiser. i am banking on the hope, that someone will return to the america that we used to know, which was more compromise oriented, and would not go into this terribly authoritarian way. i would not bank on that. i think donald trump speaks for something. he did not come out of nowhere. he represents the unease of a lot of people. there are uneducated sections of public opinion he represents the unease of a lot of people. there are uneducated sections of public opinion who follow slogans. that is too patronising. people follow slogans too easily. lots of americans think this is what the democrats think about them, they think they are well educated, stupid, bigoted, and that plays into the hands of donald trump. we have to learn from the lessons of 2016, which is that you need a candidate that can infuse the

development. they create a new national banking system. they pass a homestead act. they pass more land grant acts. they are focused on getting people educated. education is a big focus on f republicans, and the land-grant act creates state universities with the idea that it sets aside federally owned land that each state can sell in order to fund public education. they very much want to make education available to working-class men and to young women. they say that in the legislation. harvard is harvard and it will always be there, but we want to make sure there is broader access to education among other folks who cannot pay so much. they have a big approach to economic development, and the main thing, getting back to domesticity, i want to talk about how the republicans are the party of domesticity, and how in this time between 1861 and 1874 particular, and a little after that, they really try to bring domesticity and the romantic family, to make it the american ideal, the american norm. i want to talk about five different ways in which they did that. the first and

inhale to ingest and have skin contact and it's very harmful to any one bank children because the whole nationals can affect the development of the embryos. as soon as we got our results i showed them to dr tony fletcher. who is an epidemiologist waking between public health england and on the scrutinizing trying to come as. my particular focus over the last few years has been on chemical exposures to clean contaminated land and drinking water and i heard specifically about i go blue she from from our cattle when she showed me these alarming results of soil contamination it's very it's very worrying because they are vulnerable individuals and they are not informed about the potential hazards i mean they don't smell they're not going to you don't perceive these metals as being something that you taste or anything that those are the levels of exposure here it's enough to lead to chronic risks to health without. without you perceiving it's happening to you you've got two different sorts of risks involved here mainly the. neurological damage risk to your your brain to your nervous system particularly strongly from lead and mer

the what's the state of the nation has he actually addressed the economic issues the state of the banks well he definitely focused on economic issues and economic development but he didn't necessarily touch the banks as much as some observers would like him and said he focused on a lot of the issues that really kind of target russians pocketbooks i mean you have to remember this country has a depressed in qana me it's still not really have been able to develop its economy beyond the petrel state and local mahdi prices and then also the western sanctions are really hampering economic development and that means for a lot of russians that at the end of the month they don't have as much money left over as they'd like to say that was really kind of the the meat of what putin focused on today and less some of the more systematic issues that is kind of hampering the russian economy as a whole. that e.w. business correspondent in moscow thank you. china is known for going on extensive shopping trips across the world buying tech companies robotics friends and even football clubs but now it seems european football clubs are looking to the chinese soccer leagues to s

nation needs more development the passion is definitely there. and i said. right at this passion with indians. ties the trainees those banks and all the others i came across i feel privileged to have met them thanks asian cup thanks asia i want to see more of you so you do have something special going on. south korea made it legal way to the quarterfinals of brighton cup we chat with david field i just told her about his career in the industry. i think i shall i say i think i looking back it's really been quite a journey of that journey that jack chilkoot began in south korea which took him to germany at just twenty one years old he's played for votes both minds act out i see attacking midfielder has found the back of the net that's evil times with his traps i was just one match away from his two hundred who was the guy at periods which could come this weekend against his former side mites but it hasn't been easy for the twenty nine year i. thought the first few years here were especially difficult. pretty much every day i just wanted to get back on a plane to korea. but he kept at it and there's been plenty to celebrate s

developed nations are grappling with. yes, and we have to think about the different things that the bank of england has had to factor in withdowngraded all of its forecasts today, the us has started to soften its approach to interest rates, and monetary policy, so we are ina rates, and monetary policy, so we are in a situation where the whole world is beginning to look at again, a lot of political uncertainty which is holding back the global economy as well. of course these updates from the bank are not isolation from each other, are they? there is that link between the forecast and its decision on interest rates. join the dots for us and explain while why that leads us to keep interest rates on hold. at the moment they are looking at projections for the uk economy and saying, we're not sure what's going to happen. we assume there's going to be a smooth transition out of the european union in march, but we don't absolutely know that. so we are forecasting that things are going to grow quite not so quickly after thought. if we work on the basis that we are heading towards uncertainty, we don't know what's going to happen, th

bank. he has also spoken against china's policies in terms of how it lends money to other developing nationstion that has been involved in negotiations between china and the united states. there are a lot of people wondering how much this is going to be about the united states also trying to exert more influence in the world bank to try and counter the influence we are seeing from china. good to get your thoughts. i think it does matter, i was being provocative! watts of people in washington who are nervous when someone comes and who does not seem to like international financial institutions. —— lots of people. and finally — the mystery of a stolen collection of seventeenth—century crown jewels has been solved in sweden — sort of — after the treasures were found in a rubbish bin. last summer a pair of thieves made off with two crowns and an orb worth over seven million dollars from a hilltop cathedral sixty miles outside stockholm in broad daylight. the pair then dissappea red into the capital's lake system on a speedboat. despite the arrest of a suspect back in september — police had been u

banks and other company bottom lines. >> yes, but think of it this way. we had the highest corporate tax rate in the world of developed nationsld not compete. i wanted to make sure more companies would come to america and do business in america. so we had corporate tax relief. we also put millions and millions of dollars in the hands of hard-working americans. i would rather have those dollars in the hands of the american people and not in the hands of washington bureaucrats any time. i come from a state, tennessee, one of nine states with no state income tax on wages. we are booming. i will always ascribe to the fact that keep the money in the hands of the hardworking people and out of the hands of government bureaucrats. >> congressman flieeischmann go to have you on. >> yes, sir. >>> a political crisis in the commonwealth of virginia as the top three democratic official there is are embroiled in scandal. what does it mean for the future of the democratic party in the state that they hoped to turn reliably blue? >>> and we are moments from the opening bell on wall street. the dow set to fall at the open. worries about globa

bank and tax fraud was so brazen, sheinelle. >> good information this morning. pete williams, thank you. >>> a new development in the wake of quarterback colin kaepernick's nationalontroversy. this morning, a deal has been reached between kaepernick and the nfl. we get the very latest from nbc's ron allen. >> reporter: ever since he ignited a national debate about racial injustice and kneeling during the national anthem, colin kaepernick hasn't been able to find a job in football. his grievance with the nfl filed in 2017 along with former teammate eric reid claimed owners were colluding to sideline them. now in a joint statement, the nfl and kaepernick's lawyers say the parties have decided to resolve the pending grievances subject to a confidentiality agreement so there will be no further comment. >> it's possible that he realized this was going to drag on and on and on so maybe he just thought, i've made my point. it's time to move on with my life. >> believe in something. even if it means sacrificing everything. >> reporter: while kaepernick had gained a national following, becoming the face of nike and a target of president trump. >> fired. >> reporter: an in