it has indeed been a dark decade for rbs.nches close and the bank's post—crisis mistreatment of some small businesses has drawn widespread condemnation. but today's fine represents light at the end of that tunnel. now, it's not often that a 5.6 billion fine is considered good news, but it is, for a few reasons. firstly, it's hopefully the last big cheque rbs will have to write to pay for the sins of the past. secondly, it's a much lowerfigure than many people had feared, and that means now the bank can get back to being properly profitable, and that is good news for the folks that own 70% of the bank — the taxpayer. the best news about this is that rbs can put its past behind it, look forward. it's a lot more of a normal bank. it should be able to start paying dividends. the government should be able to sell it off easier. it will be more owned by the private sector, eventually completely privatised, and be like any other bank. selling the government's £25 billion stake will be the biggest privatisation in uk history and will

let's talk rbs.is something of a coup. >> the kind of language are you -- you are hearing is that this is a watershed. it has cleared this big hurdle. it is coming in at a much lower amount. this was running close to $10 billion. --clears the way >> let's listen to the president. p: they are incredible people. >> he doesn't appear to have a mic. we don't seem to have a decent feed of exactly what he is saying. i am not sure if we will be able to get that. let's lisa make her point. things, it clears the way for the bank to reinstate dividends. it could pave the way for the u.k. government to exit shareholding, with 70% of rbs. >> they are still nursing a pretty significant loss. --it does make the company helped the company go back to more normal circumstances, returning excess capital to shareholders. >> unicredit is focusing on profitability, rather than dealing with mpl. that is working. the ceo has pushed through significant cost reductions. there is a return to profitability, driven by the top l

rbs. the royal bank of scotland. tracked it to really show you the jump higher today in the market. about two percentage points theer because we understand settlement is getting close. if they can get the deal done and put it in the past, rbs becomes that much more than attractive by. is getting close. 17% stake in off a rbs. we are currently up on the stock rice. a last look at one particular asset class, the british pound. of course i have to show you the pound. we see a fall off and how it treats with the u.s. dollar. the reason we are off by about .5% is is falling faster than anyone anticipated. it looks as though many see this as a dovish statement and they are just whining that any probability of a rate hike in only one this year. the question is, will it, soon as august? up next, we will talk much more about this particular move in sterling. reduced that's on a rate hike this year. insight with former policymaker .anny this is bloomberg. ♪ breaking news, the south korean agency as saying breakinh a meeting wi

it has indeed been a dark decade for rbs. online banking has seen 1,400 branches close and the bank's post—crisis mistreatment of some small businesses has drawn widespread condemnation. but today's fine represents light at the end of that tunnel. now, it's not often that a £3.6 billion fine is considered good news, but it is, for a few reasons. firstly, it's hopefully the last big cheque rbs will have to write to pay for the sins of the past. secondly, it's a much lowerfigure than many people had feared, and that means now the bank can get back to being properly profitable, and that is good news for the folks that own 70% of the bank — the taxpayer. the best news about this is that rbs can put its past behind it, look forward. it's a lot more of a normal bank. it should be able to start paying dividends. the government should be able to sell it off easier. it will be more owned by the private sector, eventually completely privatised, and be like any other bank. selling the government's £25 billion stake will be the biggest p

rbs has been going through difficult times.has been in snared in several standards -- scandals and it just this month, it agreed to an agreement to pay 5 billion to the uss settlement for the u.s. case.ge crisis it has been a difficult time, but last year, the bank posted its first profits in a decade. -- been improving the performance of the bank. matt: we will see if those shares are affected at the open. ,ou were on the ground in italy we saw it tell you yesterday and banks holding italian that around the cotton a. what do you expect today? annemarie: that's right, matt. i am looking at the italian financials. only three stocks were up yesterday on the ftse. these stocks were related to commodity linked stocks. i am watching the banks that are exposed to italy. bnp paribas and credit agricole are the most exposed. 250 billion euros combined. crunched these numbers and these were off of filings last year. i will be looking at how those banks move at the open. it is not just an italian story. what it means for others exposed i

rbs have said, "we are no longer launching williams & glyn as a challenger bank, and we now have two each other; natwest and royal bank of scotland, in england & wales. "as a result we have had to review our overall branch footprint and we've made the difficult decision to close a number of royal bank of scotland branches. " joining us now is peter hahn, professor of banking, the london institute of banking & finance. are you surprised by this announcement? not at all, the writing was on the wall when royal bank of scotland decided not to go ahead with williams and glyn, a number of those branches that word designated to be williams and glyn are easily within walking distance of natwest branches. —— williams & glyn. walking distance of natwest branches. -- williams & glyn. remind us, why did the planned to launch this challenger bank, williams & glyn, why did that not go ahead?l number of attempts to separate the information technology, the it, to give williams & glyn its own operating system, rbs admitted it could not do it and then there was an alternative remedy to the eu required

rbs mightad estimated have to pay $9 billion to resolve the matter.irman of a ban to jail.ntenced he will be deprived of his clinical rights for four years. his assets will be confiscated and any illegal gains will be retrieved. the downfalls here. major activities after the u.s. crippled its ability to buy american technology, signaling one of the largest pullouts. the second biggest telecom intentnt maker remains a sanction.ith that cut off access to components that use -- it uses to build most of its products. .he ntsb will investigate the agency does not anticipate that the autopilot technology will be part of the probe. investigators will focus on how firefighters and others responded to the car's battery fire caused by the crash in which two people were killed. it is the fourth active rope into a collision involving vehicles made by tesla. ohio pelican governor of -- the republican governor of his state themake wild west for car testing regardless of the fatal crashes involving uber. s on any car in the state. uber's ceo has stated his company l

mortgage prompt allows dividend.nstate the we have another story on the bloomberg that rbs is lookingeplacement for ross mcewan who has done the job he was asked to do since he took over in 2013. theme,g with the banking union credit shares up by almost 2%. the chief executive ramping up cost cuts, improving asset quality to keep his pledge to build a leading pan-european bank. a drop in operating cost in the first quarter helped the bank boost profit by more than estimated in his second term as chief executive, he is focusing on profitability, further .educing bad assets taking over raised $13 billion in fresh funds, slashed sour loans and cost and supplied governments with the goal of achieving annual net income of 4.7 billion euros in 2019. unicredit shares up by almost 2%. vonnie: it is fascinating, u.s. markets digesting a lot today from a geopolitical event to economic event and you can see those buying in stocks and treasuries, the 10 year yield holding steady at 2.97%. cpi disappointing a little bit this morning. the two-year yield at 2.52%, so 2-1010 spread is at -- the sprea

. >>> rbs agrees to a 4$4.9 billin settlement with the department of justice in a smaller fine that could pave the way for the government to sell shares. >>> and bt shares fall sharply as further restructuring fails to connect with investors. the company cut its profit guidance and warns of regulatory pressures. >>> and the three americans held by north korea have been welcomed back to u.s. soil by u.s. president donald trump. >> i think he did this because i really think he wants to do something and bring that country into the real world. i really believe that. >>> good thursday morning from me here in london. let's look at european markets you can see there's a positive picture across the continent for those trading. a number of them closed for ascension day. the ftse 100 into positive territory. the dax the clear leader up almost 0.64% the cac 40 is up 0.10 %. the ftse mib trading just above the flat line. looking at sectors across europe media is performing well retail is up 0.60% that sector bouncing well with some numbers you can see oil and gas among one of the main losers so far.

rbs looking for a cfo. penalty but pay a now the cfo is leaving. shares are down 1.6%. vivendi in the news, down 4%. the pay television channel canal+ losing its three decade old on the broadcasting rights to french football. major upset for the media company, a chinese company, spanish television and film producer, winning the rights for three of the main packages for four seasons. starting in mid-2020. how is it looking and the u.s.? julie: the rebound is strengthening. all three major averages higher and the russell 3000 outpacing the major averages and resetting a record. small caps doing better. this as we get financial stress rising. if you look at the bloomberg, bank of america merrill lynch measure of the stress and the system. market risk. we have been seeing signs of risk go higher, particularly after italy yesterday. we are watching the canadian banks. capcentral bank of canada interest rates on hold for a third straight decision. ,owever, key language changes including an up beat assessment of the economy and removing cautious language. that indicates potent

analysts estimated the justice department could fine rbs up to $12 billion. rbs will take a 1$1.4 billion charge in the second quarter >>> south korea says it's reached a deal with general motors to inject 4$4.4 billion into the automaker's money-losing korean unit and gm will not reduce its stake in the unit for ten years and establish a new asia pacific headquarters in south korea >>> bookings holdings reported first quarter earnings and revenue that beat forecasts as travel bookings beat 21% the company formerly known as priceline issued weaker than expected revenue guidance for this quarter shares are down by 6.5%. >> we'll see you in a minute, courtney see you soon >>> on deck, walmart's big bet on india we're taking a look at the company's latest $16 billion deal >>> and are you looking to sell your house there's a single best day of the year to list your home what day is that diana icolk has that valuable piece of news as "wex" rolls on. yeah, i'm afraid so. it's okay. this is what we've been planning for. knowing what's important to you is why 7 milli

rbs said the closures were in response to an increase in mobile and online banking. vote in favour of overturning ireland's abortion ban gives hope to northern ireland, that's according to penny mordaunt, the minister for women and equalities. the referendum result has sparked calls for the issue to be reassessed in northern ireland, where laws are much stricter than the rest of the uk. ireland's prime minister said those who had voted against repeal would be unhappy but that a quiet revolution had taken place. for me, it is also a day where we say, no more. no more to doctors telling their patients that there is nothing that can be done for them in their own country. no more lonely journeys across the irish sea. no more stigma as the veil of secrecy is lifted and no more isolation because the burden of shame is gone. and in a few minutes we'll speak to a dad and daughter divided by the debate. that's at 8:10am. the names of the first colleges in england that will teach new technical qualifications have been announced by the government. the courses for 16 year olds a

rbs said the closures were in response to an increase in mobile and online banking. favour of overturning ireland's abortion ban gives "hope" to northern ireland, that's according to penny mordaunt, the minister for women and equalities. the referendum result has sparked calls for the issue to be reassessed in northern ireland, where laws are much stricter than the rest of the uk. let's speak to our ireland correspondent, chris page who is in dublin for us this morning. focusing on the republic, as huge social change. yes, that's right. there will be lots and lots of reflection i think today on the momentous nature of yesterday and the vote that was taken, ireland voting by a margin of 2—1 to liberalise their abortion laws. i'm sorry, i am struggling a bit... shall we let you get a throat lozenge or something, or a glass of water, and will speak to you later. you had a very busy weekend. a reporter without a voice is a reporter without a voice is a reporter who is struggling. it has happened to us all. let's move on. the names of the first colleges in england that wi

thatsts say deutsche bank rbs may have to pay $9 billion to resolve the matter.ver the nextd three years of an 11 .3 billion pound tension deficit. it is shedding 13,000 jobs. program hasf its been one of the biggest overhangs of the company's stocks. >> this plan is an ambitious one. the most significant we have had for the last 10 years. we will be reducing the number of roles, many in managerial and back-office in the next three years. importantly, we will be investing 6000 new jobs in service and the deployment of networks. also things like security practice which is growing quickly. ed: the republican governor of ohio says he wants to make his state "the wild wild west" to self driving cars. john kasich signed an executive order to allow companies to test cars on any public road in the state including without anyone behind the wheel. uber's ceo said his company has learned an important lesson in the face of the accident in phoenix. >> for us, a really want the idea that safety has to come first. tragedy,ates to that we have grounded off our fleet and that wa

rbs said the closures were in response to an increase in mobile and online banking.rturning ireland's abortion ban gives "hope" to northern ireland. that's according to penny mordaunt, the minister for women and equalities. the referendum result has sparked calls for the issue to be reassessed in northern ireland, where laws are much stricter than the rest of the uk. ireland's prime minister said those who had voted against repeal would be unhappy but that a "quiet revolution" had taken place. for me it is also a day when we say no more. no more to doctors telling their patients that there is nothing can be done for them in their own country. no more lonelyjourneys across the irish sea. no more stigma, as the veil of secrecy is lifted. and no more isolation is the burden of shame is gone. and at 8:10 we'll speak to a dad and daughter divided by the debate. we'll get their views on the changing face of ireland. a 22—year old man has been charged with murder after a teenager was stabbed to death in sheffield on tuesday. ryan jowle, who was 19, was attacked in the woodh

rbs said the closures were in response to an increase in mobile and online banking.as indicated that preparations for a summit next month with the leader of north korea, kimjong—un, are going ahead as originally planned. england could get more national parks after the environment secretary, michael gove, announced he's launching a review into the country's natural landscapes. politicians are calling for northern ireland's strict abortion laws to be liberalised, after voters in the irish republic overwhelmingly backed changes in their referendum. liverpool's dreams of lifting the european cup for a sixth time came to a crushing end last night — when they were defeated 3—1 by real madrid in the champions league final. the spanish side have won the tournament three times in as many years under manager zinedine zidane. our sports correspondent david 0rnstein was at the stadium in kiev. the kings of european football... real madrid, champions of europe for a 13th time. liverpool, heartbroken. the reds arrived with dreams of another famous triumph, but soon suffered the cr

and news about rbs losing their chief financial officer.nd is seen as one of the architects in the turnaround in rbs which is 70% owned by the british government. they recently reached a settle m e nt government. they recently reached a settlement with the department of justice in the united states which effectively puts to bed a lot of its long—term legal problems so this is seen long—term legal problems so this is seen as a long—term legal problems so this is seen as a transition point for them. its agm is today and it seems the financial directors decided why not leave now while we are on a high? good to talk to you, thank you. a quick look at this, nuisance call bosses might face fines. we will find out more in a second. you're watching business live. our top story... investors in asia continued the global sell—off heading towards safe haven asset as fears mount over italy's political crisis and the europa has reached a ten month low against the dollar. —— of the euro had reached. many of us are trying to not only eat healthier, but in

we were waiting to hear if they would begin to sell some of their debt, but the cfo has at rbs.the cfo the question is when will the government begin to divest themselves of those positions in rbs? we are seeing ross mcewan still there, you and stephenson, he goes and in terms of participation on the board. he leaves the board at rbs. that is the cfo. yen is bid, tenure futures are coming back a little. let's look at the bond market. i have squeezed it down in terms of duration. the two-year government bonds in italy. despite what you saw in terms of yield. the yield ratcheting higher yesterday in italy. was the language our interviewee used. we are seeing the follow-through on that price, yields will be higher. this is two-year government ons in germany. the message from germany, put your house in order italy. you are seeing a drop back in price on the u.s. 2-year note. those are your markets. those are your bonds. juliette saly has your first word news. headede: italy may be toward snap elections as early as july after the latest attempt to form a government saw the premier de

hsb and rbs in saudi arabia -- hsbc and rbs in saudi arabia.have reached an initial intoon merger terms, nip financial analytics on the bloomberg. 3.4% of the overall net revenue for hsbc. abouterating revenue is 6.2% of their business. rbs doesn't express what size their business is in saudi arabia. that gives you a sense of the consolidation story. sbc, both businesses, coming together. they have reached initial deal terms based on an exchange ratio of 35.5. you 53.3 real -- bank discussions for a reaching arger, preliminary nonbinding agreement on the exchange ratio. of saudi british bank. juliette saly with the headlines. --iette: novartis has set said its general counsel over retire next month following revelations of payments becomes -- the company made to a consulting firm led by donald en.mp's lawyer, michael coh an interim general counsel has been appointed. novartis -- tencent holdings is about to release quarterly numbers into the most negative market in more than two years. shares are struggling to rebound after yesterday's $17 bill

we should note that rbs holds 30%. these are there some banks. the biggest gainer on the stock exchange this morning. matt: let's get some more on that merger story. matthew, break it down for us. what does this all mean? it's going to be a very important transaction for the banking sector for a lot of reasons. which hastant for rbs wanted to exit saudi arabia for a long time. is getting a 30% premium on the market value so that is going to be a good accounting boost for them as a result of this transaction. it's also going to create a much bigger bank and saudi arabia. it sets the stage perhaps for some further consolidation. guy: there are accidents of history that make this happen what is a tell us the banking story and the gcc? -- the lower oil prices and reduced economic growth in the region are putting some pressure on the banks to get efficiencies and it's prompted a wave of mergers around the region and this is part of trying to create stronger, bigger institutions. just last week, saudi arabia published a new document about how it wants

hsbc is looking to buy the rbs unit in saudi arabia for $5 billion. red,though they are in the they are outperforming the rest of the banking sector in europe on that deal that looks to be done. one of the key laggards today is the biggest papermaker in the world might not be looking to make any sort of approach. it's an irish packaging company and the world's largest international paper company. there potentially looking at a percent of the company but have ruled out any sort of hostile of roach. down goes that stock at a particular underperformance today. the story of europe today is one of italy. check out italian assets. of the stock market, it's underperforming significantly and bonds are selling off with yields spiking above two percentage points. that's the first time since march for italian bonds. the reason is it's all about the populist party potentially talking about right down to the tune of 250 billion euros in terms of a government debt write-down. we understand one of the to best parties is going looking to ask the ecb to freeze and can

you have to feel good for your hike is now from bahrain to berlin where rb life should look to potentially were church of the champions league and only their software season with the big boys when you go alone in the capital city wouldn't be enough to achieve that and in some scenarios leipsic would need to win by every dicky list goal margin of at least thirteen to get there let's see if leipsic could do the impossible against berlin. two minutes in and hat's how ready behind the macondo converts this week or not the budget was another call i just two minutes late had to prove to equalise that they got a piece of each with the six thought of the season. but like this reply right away that i'm only look man with the games go in just a minute. so kevin i was stunned maybe three one suit off that's a keeper room and just i was rushing to see if this was. just i was beaten again in the second hour though there was never much he could do to stop the team then as it's was it shot for me standing by to speak was and you can counterattack in the fifty fourth minute brought out this time through i

then you have to feel good for your hike is now from buyer to berlin where rb life should look to potentially were turned to the champions league and only their software season with the big boys when you go alone in the capital city wouldn't be enough to achieve that and in some scenarios life sick would need to win by every dicky list goal margin of at least thirteen to get there let's say of leipsic could do the impossible against berlin. two minutes in and has already behind the macondo conversing this week or not the but it was another corner in just two minutes lights had the pull to equalize at the piece of each with the sixth of the season. but like this reply it's right away dimona look man with the games go in just a minute. so kevin i was stunned maybe three one suit off that's a keeper rule that just i was rushing to see if he was distraught. and just i was beaten again in the second hour though there was never much he could do to stop the team then as expose it showed some extent lots of speed. and he can counterattack in the fifty fourth minute out this time through a window and

then you have to feel good for your behind us now from bahrain to berlin where rb leipzig look to potentially were church of the champions league and only their software season with the big boys when you go alone in the capital city wouldn't be enough to achieve that and in some scenarios leipsic would need to win by every dicky list goal margin of at least thirteen to get there let's see if leipsic could do the impossible against berlin. two minutes in and hats have already behind me to my condo converts this to the corner of the but it was another corner just two minutes later at the pool to equalize at the peace of it with the sixth of the season. but like this reply right away i demoed a look mind with the games go in just a minute. or so kevin i was stunned maybe three one soon after that to keep a roommate just i was rushing to see everything was destroyed. and just i was beaten again in the second hour though there was never much he could do just about then as explicit shot from extending lots of sleep. and he can counterattack in the fifty fourth minute book how to stand through a win

now, rbs. the royal bank of scotland. we thought it would be more than 4.9 billion.t home think it is huge but in terms of what we were expecting and the wider principles here, it is not as bad as we were expecting. right. and one interesting thing about the story is the timing. we are ten years after the timing. we are ten years after the crisis now and people are still trying to get a handle on exactly what happened. why has it taken so long? we are still finding people. it was a complicated problem, the factors that led to the crisis and the nature of government and regulations moves slowly. i think that should be a clue as to how you prevent the next one. you need to focus on things like enforcement after the fact or do you need to think about the broader policy before a crisis happens? looking at the company its self, you read here that it says that in terms of the penalty, it will take a small slice out of the company's proffered that only small because it has put muggy aside. is really going to have a major impact? it seems like a small slap on the wrist. you

have the worst record of any team in the second half of the season and now face a tricky test away to rb like sieg. i hope will show a bit more courage up front we have to really get into the tackles we need to do that against. me yet. so who will be heading to the second division it's crunch time and the phone does late. news from berlin more coming up at the top of the hour don't forget you can get all the latest news and information around the clock on our website thanks for joining and. proud and they will not succeed in dividing us so that all not succeed in taking the people off the streets because we're tired of you stick to your show. taking the stand global news that matters. made for mines. sometimes.

opponents dortmund like i said no easy place to play that's a very big team and previously it was against rb like to show there's a very crucial points they didn't really have a right to win those games but they performed well on the day and they've earned their safety in terms of what they've done over the season. they stuck with him in fact he's also quite an experienced coach quite young came through the club . he used to coach the under twenty three side so he knows the club well but he never coached a professional been as the good say before so kind of similar in fact to today and i was going to dominica to desk. i guess employing a young inexperienced coach is coming into fashion and it certainly seems to be they're bringing the results i guess the right answer and as long as they're winning why not release action so we're actually heading towards into a really exciting last day of the season can you walk us through that a bit well there's a lot of stuff still up in the air if we look at the table then we can see of course by munich and shout they have guaranteed their champions league

that is a big dealfor rbs in the uk. more of that on the website. that is your business briefing.ld become much more expensive after brexit if a trade agreement isn't reach. that's according to a new house of lords report. the committee says that the tariff on imports is likely to rise, and that it had "no doubts" that this would lead to price rises at the checkout. our environment and rural affairs correspondent claire marshall reports. half the food we eat is imported. 30% of this comes from the european union. the uk is now negotiating its own trade deals, but it is not clear what the terms will be. according to the lords report, if there is no agreement, there could be severe rises for shoppers. if we apply the equivalent of european tariffs then, on average, that is some 22% on food prices that are imported. not all of that would go on food prices itself, but it obviously would have a major affect on the price of food. the report also warns that if there is no trade agreement we could see more things like this. it advises there is not the staff, it systems, or infrastructure.

what the rbs chief financial officer -- the rbs chief stevensonofficer ewen unexpectedly resigns.ly one story that dominates. read why mario draghi could need a much bigger bazooka this time. it is all about italy, and second, we take a look at the bond markets. i am also looking at the markets, of course. a little bit more green on the screen than we saw yesterday, when it was a sea of red. the cac 40 is down 0.6%. i have this bloomberg function. that is a very latest on the markets. let's get the latest on the bloomberg first word news. taylor: italy may be headed for a snap election as early as july. that is after the latest attempt to form a government saw premier designate leave a meeting with the president without an agreement on a cabinet team. by him could force the president to dissolve parliament, leading to elections. turkey is prepared to raise interest rates again if inflation accelerates. moneys according to managers who met with turkey's central bank governor and deputy prime minister yesterday. they cited the official, saying that further tightening will depend on

the big institutions are going to be more rhet red sant rb. maria: and they have been. >> i've seen lots of players spending time and every trying to figure out ho to get into the business. you're going to see big announcements saying we'll custody this stuff. maria: very pioneering of you. bci is the index designed to track the performance of the liquid positions of the crypto currency market. let me get your take on the stock market and the broader markets out there. what's your take on where we are now? >> we're in a rate cycle where the rates are going higher and the fed i think is going to continue to push rates up higher. i don't think they're going to accelerate but they're going to keep mushin pushing the rates h. we've got a president that creates lots of instability, good and bad. there's more risk. rates are going higher. at the same time, a synchronized global rate system. i think the stock market is going to stay volatile but grind higher unless, you know, long, because out of risk-adjusted basis, it's a riskier trade. but i think

david: rbs is doing better and there are talks it might float some shares.d says, i am out of here, which is a surprise because you thought he was one of two people who might succeed the ceo. brooke: he used to work at credit suisse as an investment banker. he participated in the government bailout of rbs all those years ago, so he would be considered an asset to have around if you are talking about the government winding down at stake. on the flip side, he has done all the heavy lifting he needed to do. they reached a settlement with the u.s. in terms of the sale of mortgage backed securities. that clears the path down the road, maybe talking about a dividend. you can argue the hard work is done. the current ceo has made some comments about maybe wanting to stay on through 2020. maybe he was looking for another opportunity. david: who might be the other person to succeed this ceo? they said they would like to go in house for someone who has been there a while, and alison rose is the front runner. alix: is that the first time ever? david: i cannot think of a

rbs said the closures were in response to an increase in mobile and online banking.relaxed after voters in the irish republic overwhelmingly backed change in a referendum. preparations are under way for a possible summit between the leader of north korea, kim jong—un, and president trump. organisers cancel the mutiny festival in portsmouth after two people die at the event. england could get more national parks as part of a review of the country's landscape. the environment secretary, michael gove, said the review would also look at whether to increase the number of areas of outstanding natural beauty. ben ando reports. the cpre are now fighting for great tracts of land to be used for national parks. between the wars, the battle raged for britain's open spaces and the right to roam. there were mass trespasses, arrests and propaganda films like this. but it wasn't until 1951 that the post—war government legislated to create britain's first national park, here in the peak district, a place where ordinary people could enjoy the extraordinary beauty of nature and that wo

to it voting the starts the is candidates will rb nibe nice each other, if ey have to be a second orhird place vote. >> scott, and marissa and guy, our kqed politics and government team, thank you so much. >> thank you. >>> turning to cannabis, last week, governor jerry brown released a revised state budget tt included $14 million to cra down onillegal cannabis sales. retailers and other businesses have been required to gs. new permit but the steep costs of the permits and taxing the sale of all cannabisy contributing to a still thriving blackmarket of rijuana. joining me now for a discussion avissh, idthe spokesman for thes rnlifo industryia as thak you. massivwoc big is the elicit ic lhe nudoe.me produofmber the united sta te 4 marijuana grown isgye10billion e revenue over all. >> a lot of money an governor brown isst using to inate the elicit market. >> it's a bssagit ofug old avwe networks that are growing and ting the cannabis out of the orpstate, some are domestic and we have a big caac bk l go after the biggest offenders. the people who are operating at gt tndtateca and federa

ntsome of the names i ned --rb laura bush, a bush, hillary clinton, they were married to governors. michelle obamanaarried u.s. r. melania trump has not had to do that. this is all very new to her, even in terms of having peoplto tell her whao. she has a much smaller team of consultants in the east wing. it is kind of a new experience for her, and i think that is why they are coming at this with a bit more caution. but there is no doubt about it, the lunch in the rose garden means her profile is going to go up. jane: and everyone thinks she di pretty well with the state visit with emmanuel macron. thank you very much indeed. force.the space it may sound like a summer blockbuster, but instead it is sometimes idea to create a new of the u.s.w branch military dedicated to fighting in outer space. it has been getting a ret of attentiontly, so we have been finding out whether it to become reality. president trump: the space force -- does that make sense? the space force. we may even have a space force. on president trump has men the space force a couple times, and wh he is alluding to is

in many ways rbs will be hoping this is the beginning of the end of probably the most painful chapterthe bank, where is it likely to go? you can now get back to being a normal bank, a properly profitable bank, good news for its majority owner, 70% owned by the taxpayer. this will start the firing gun on —— the starting gun on the beginning to pay dividends to shareholders, that makes it more attractive to investors to buy, we can attractive to investors to buy, we ca n start attractive to investors to buy, we can start selling some of that 70% sta ke can start selling some of that 70% stake back to the private sector. it will not be easy, this £25 billion sta ke will not be easy, this £25 billion stake represents essentially the biggest privatisation in uk history, and it will take years to do. but the process is now under way. we as taxpayers will begin to get some of that money back. one word of warning, it is very unlikely that we will get back the full amount of the £45 billion we put in backing 2008, bearing in mind we spent more money defending a bank then we spent on our entire

. >> the time's up movement now taking aim at rb stinger r.otify, pandora an apple music all announcing they would noing loor promote kelly's songs, removing them from their play list though fans can still search for them. >> trevor: yeah, that std ultimate punishment for r. kelly, no more streaming. also, note to self, note to self, never go out wearing a bandit mask just in case the news needs a photo saying you did something wrong because people will just assume that you are guilty right, even zorro looks at him like he did it, he totally did it now i know some r. kelly fans are angry saying like how can they censor r. kelly he's done nothing wrong. look, he's not censored. the play lists just don't recommend him any more. the same way i haven't banned r. kelly as a babysitter, i just don't recommend him any more. that's all. in other news over the weekend president trump, the r. kelly of the white house dropped a tweet that caught a lot of people by surprise. >> it's another trump tweet that's causing controversy this morning, president xi

. >> no matterhe results the ranked voting, the start to it is candidates will rb nibe nice each otherif they have to be a secondte or third place >> scott, and marissa and guy, our kqed politics and government team, thank you so ch. >> thank you. >>> turning to cannabis, last week, governor jerry brown released a revised state budget that included $14 million crack down on illegal cannabis sales. retailers and other businesseeq have beenred to get new permits. but the steep costs of the permits and taxing the sale of all cannabisroducts may be contributing to a still thriving blackmarket of marijuana.no joining mfor a discussion of all this is david downs, and josh, thespokesman for the california cannabis industry association. welcome to you both. >> thank you. >> how big is the elicit california market? >> it's massive. we are the number one domestic producer of cannabis for the united states. 4 on ut of the 5 pounds of marijuana grow is being sent to other states. we feel it may be $10 billion in revenue over all. >> a lot of money at $14 million is what governor brown is using to

at the other end of the table hoffenheim pipped bayer leverkusen and rb leipzig to fourth place, as theye are 36 days until brazil play their first game at this year's world cup. and neymar has just given them a huge boost. the forward's resumed training after undergoing foot surgery two months ago. his club paris st germain say he'll start his physical preparation with the ball on sunday. neymar has been out of action since breaking a bone in his right foot in february. brazil's first world cup match is against switzerland on the 17thjune by the way. to rugby union. leinster have won the champion's cup for a record equalling fourth time. they beat the french side racing 92, 15—12. 0ur rugby union reporter chrisjones was watching in bilbao. no doubt leinster have been the best tea m no doubt leinster have been the best team in race—macro this season but they were made to dig very deep this champions cup final, raising 92 gave everything on a given day, they gave nothing out there, but leinster had enough at the end to win by 15—12, even though the french club had a last—ditch effort to f

but rbs, but we are quite used to that, branch closures.gain scale in mortgages. for yorkshire bank, they will get a much lower funding mortgages. for yorkshire bank, they will get a much lowerfunding base. that protects their margins. it makes sense. even if the stupid could get together, they would be a tenth of the size of lloyd‘s. it is a good deal, and a long way to go evenif a good deal, and a long way to go even if it gets done. in other business news: a £68 million loss over 6 months might not sound great, but for easyjet it‘s boosted their share price almost 3%. the budget carrier cut its losses, expanding capacity and integrating the parts of air berlin it bought last year. easyjet chief executive johan lundgren says the airline has benefited from the demise of monarch airlines and air france‘s struggles. seattle has voted to impose a new tax of $275 a year per employee on the biggest companies based there, which include amazon and starbucks, in a bid to tackle a housing crisis and homelessness. both amazon and starbucks have expr