theo leggett reports.n be fast, luxurious and have long range, but it hasn't yet shown that it can make a profit out of them. it's been pouring money into building up its business. and as this chart shows, it's burning through cash at a seemingly ever—increasing rate. and this is a big part of the problem. the new tesla model three. it's meant to be a mass—market electric car, but the company can't yet build enough of them. it's working flat out to increase production. the question is whether it can do it quickly enough. there are a few challenges facing tesla. firstly they're in a race against time. the competition are mobilising with electric models. also incentives have a very finite time period and also they're burning through cash very quickly, and that's a worry to investors. not that tesla's boss elon musk seems worried. during a conference call with financial analysts to discuss the results he even cut off one caller, saying, these questions are so dry they're killing me. that dismissive attitude h

theo leggett takes a look.for its art, its architecture and its cafe culture, but it is also notorious for its traffic. the french capital is crowded, its roads are heavily congested, and it varies badly polluted. the paris authorities think there arejust polluted. the paris authorities think there are just too many cars in this town that is the cause of all the pollution, so they would like people to use something lean and clean, like this, instead. we are ina and clean, like this, instead. we are in a situation of emergency and the shift towards clean mobility and the shift towards clean mobility and the diminution of the number of cars ina the diminution of the number of cars in a city like paris is very urgent, so we in a city like paris is very urgent, so we need to do something. paris has already banned older cars on entering the city on weekdays. it wa nts to entering the city on weekdays. it wants to get rid of diesel vehicles altogether within six years and it is offering big incentives for people to t

our business correspondent theo leggett is here. theo, what's gone wrong?lders of this franchise did bid too much and chris grayling emphatically laid the blame at their door today. but the two company said in the past —— certainly, the two holders of this franchise. they said in the past the assumptions on which they made this bid were wrong, in other words anticipating improvements to railway infrastructure which never materialised and increasing passenger numbers, therefore increasing passenger revenues, which never materialised either. although the secretary of state was trying to put the blame firmly on the commercial companies and saying they got their sums wrong, there does seem to be a criticism here that could be made of the bidding system itself and the assumptions made by the department for transport. difficult presumably because the secretary of state is saying taking it back into the department for transport‘s control it back into the department for tra nsport‘s control is it back into the department for transport‘s control is only a temporary

joining us now with more on this is our business correspondent theo leggett. that is a big move.n ultimately to go for the £2 option? let's look at what fixed odds betting terminals actually are. they are gaming machines which you will find in they are gaming machines which you willfind in high they are gaming machines which you will find in high street but mike is that allow you to wager on the results of various games. —— high street bookmakers. and simulated horse racing, always with fixed odds of winning. the problem is that you have a £100 maximum bet and you can place a new bed every 20 seconds, and campaigners say this encourages people to spend a lot of money very quickly and also that the machines are highly addictive. that has been backed up by a government report so the concern is that this leads to welfare problems, mental problems and social problems, and that is why the government wants to reduce the maximum stake. earlier this year the gambling commission recommended that the stake could come down from £100 to £30, and it seems the government is willing to go furth

for more on this we're joined from the business newsroom by theo leggett.o follows the news and saudi passport debacle would have expected it. absolutely and they issued a profit warning in late march —— who saw the passport debacle. the share price is slightly up debacle. the share price is slightly up which shows you the results were anticipated. 0ne up which shows you the results were anticipated. one of the biggest factors driving them was the paper business, banknote paper printing that de la rue used to own. it sold that de la rue used to own. it sold that business but after the end of the financial year and it was a loss—making business so if you strip out those results they are not doing that badly, its operating profits would have been up 7% stripping out those figures. it was beneath the service eight reasonably strong performance. you would have thought somebody like de la rue, what better business can you have than printing banknotes and credit card and passport? the news about the passport? the news about the passport must be a real kick in the

joining us now from our business newsroom is theo leggett. what are the shares doing?we mentioned a moment ago they were up we mentioned a moment ago they were ‘7. we mentioned a moment ago they were up 3%. that is no surprise, these are good results. if you strip away the effects of integrating the air berlin operations in berlin, the company actually made a profit. it is compared to a significant loss in the same period last year, which is really no surprise. back then the company was suffering from the after—effects of terrorist attacks in key markets, things like that. and a fall in the value of the pound. some of those effects have been mitigated. easyjet is benefiting from problems that other carriers, the bankruptcy of monarch, air berlin, which it has taken control of part of, also alitalia, which is currently in administration. easyjet has some difficult decisions to make with regard to alitalia, which it has been interested in in the past. but speaking earlier on the bbc the chief executive was fairly noncommittal. i think noncommittal. ithink in noncommittal

joining us now from our business newsroom is theo leggett. what did the report find?t sprays out scathing criticism is quite literally. it's not just out scathing criticism is quite literally. it's notjust the board, it is the auditors, the government and everything else. the central accusation is that basically carillion was too ambitious, it focused on growth and spent a lot of money buying other businesses. many of those had substantial pensions deficits. it also bid for contracts that were not profitable. that is partly how it got into trouble. there is another accusation, that financial problems were hidden from shareholders through aggressive accounting practices. mps also accused the board of focusing on protecting executive bonuses, while treating long—term obligations such as the carillion pension scheme with contempt. 0verall, they describe khari lee and's growth and ultimate failure is a story of recklessness, who —— hubris and greed, say the director was in denial of what had happened. some of those criticised have rejected the conclusions. former chairman

theo leggett reports.g terminals are electronic machines which allowed users to place wagers on a variety of games, such as blackjack, roulette or simulated horse racing. at the moment, players can place bets of up to £100 every 20 seconds, so bets of up to £100 every 20 seconds, so it is possible to lose a great deal of money very quickly. there are also serious concerns that gambling like this can be very addictive. in fact, fixed odds terminals have been described as the crack cocaine of gambling. these machines give you the ability to chase losses of up to £100 and you can lose phenomenal amounts of money ina very can lose phenomenal amounts of money in a very short space of time. that was my experience. the last time i had a relapse on these machines was september last year and i lost over £2000 in 40 september last year and i lost over £2000 in a0 minutes. september last year and i lost over £2000 in 40 minutes. the government believes a clamp—down on fixed odds terminals can help to reduce problem g

with me is our business correspondent, theo leggett.this stage? this isn't even the first time the east coast main line has had this problem, all that franchise has been put into temporary public control. the issue here appears to that stagecoach and virgin bid a lot of money for the privilege of running it in 2015 and snp haven't been able to make the figures add up. they've been losing money, the transport secretary agrees that that cannot go on indefinitely and therefore the franchise is being taken under public control. it is called an operator of last resort under the supervision of the department for transport mobility after saw a temporary basis until, in a couple of yea rs' temporary basis until, in a couple of years' time, it comes as new public and private partnership, which is long—term objective of the department for transport. will it keep losing money? the point is it wasn't the railway losing the money, it was the people holding the franchise. there wasn't enough revenue coming in to make their figures add up taking into

theo leggett reports.hat, but boosting production takes time and it costs money — a lot of money. tesla lost more than £0.5 billion in the first three months of this year alone. it's been pouring money into building up its business. and as this chart shows, it's burning through cash at a seemingly ever—increasing rate. and this is a big part of the problem. the new tesla model three. it's meant to be a mass—market electric car, but the company can't yet build enough of them. it's working flat out to increase production. the question is whether it can do it quickly enough. there are a few challenges facing tesla. firstly they're in a race against time. the competition are mobilising with electric models. also incentives have a very finite time period and also they're burning through cash very quickly, and that's a worry to investors. not that tesla's boss elon musk seems worried. during a conference call with financial analysts to discuss the results he even cut off one caller, saying, these questions are s

let's speak now to our business correspondent theo leggett. r bt and forjobs with the company?m means that bt knows it has to change, it has to launch a major restructuring programme. why? because it earnings have been pretty sluggish over the last few years, its share price has fallen a great deal, it needs to do something. it needs to cut costs but also prepare for the future. bt is no longer acting ina for the future. bt is no longer acting in a world where it is the major provider of a simple telephone network. these days, we have broadband networks, 5g networks, and there is a lot of competition, so bt needs to respond. it is cutting costs by getting rid ofjupiter asian between its various divisions, cutting 13,000 jobs out of 100,000. —— duplication. it is also recruiting 6000 engineering staff to help build the networks and see off the competition. consumers are being warned that food could become much more expensive in the uk after brexit if a trade agreement isn't reached. that's according to a new house of lords report. the committee

theo leggett reports. make a profit out of them. a major manufacturer. and it costs money — a lot ofis year alone. it's been pouring money into building up its business. at a seemingly ever—increasing rate. and this is a big part of the problem. the new tesla model three. yet build enough of them. it's working flat out to increase production. the question is whether it can do it quickly enough. there are a few challenges facing tesla. firstly they're in a race against time. the competition are mobilising with electric models. through cash very quickly, and that's a worry to investors. not that tesla's boss elon musk seems worried. are so dry they're killing me. that dismissive attitude helped send the company's shares down 4%. for the moment though, investors are still backing tesla. the company is worth £38 billion. that's more than ford or general motors. of the motor industry. theo leggett, bbc news. describing the night of the alleged attack in court. that he ended his life at a belgian clinic last year. she denies all the charges. 0ur correspondent, jon kay, is outside bristol c

vw has already set aside $30 billion for fines and recalls. 0ur correspondent theo leggett is with metook us through what these charges in tail. this is an indictment therefore these are unsubstantiated allegations that haven't been tested in court. having said that, they are extraordinary. they suggest the deception that volkswagen went right to the top of the company to martin winterkorn himself. there are two things in the indictment that are significant. 0ne things in the indictment that are significant. one is that he was sent a memo in 2014,18 months significant. one is that he was sent a memo in 2014, 18 months before the scandal came to light, setting out there was a problem and the american authorities might look at it and that at some point folks what might be forced to buy back half a million ca i’s be forced to buy back half a million cars which it ended up doing. also, two months before the scandal came to light, martin winterkorn sat through a powerpoint presentation setting out exactly what was going on and what the american authorities might do about it and what the st