Lee. Prosecutors vowed to continue the Corruption Investigation without wavering. We will have the latest from seoul. And for now european markets are all headed higher theresa may is speaking in davos in less than an hour and so we are watching the pound sterling. We are also going to be getting the inside track on the winners and losers. Also, streaming service net flicks reported a huge boost in subscriber numbers, they put it down to their original conflict, it is a little bit like netflix and chilling. Do the streaming services make your much watch shows . Do get in touch, use the hashtag. Welcome to the programme. Do get in touch with your comments, not just about netflix do get in touch with your comments, notjust about netflix but do get in touch with your comments, not just about netflix but about do get in touch with your comments, notjust about netflix but about our other stories. We love to hear from you. We start here in london where fears of a costly brexit exodus of banking jobs are growing. Some leading firms are now weighing up moving thousands of staff out of the uk after Prime Minister theresa may confirmed plans to leave the european Single Market as well as the eu the so called hard brexit option. The british leader is addressing the World Economic forum in davos in the next hour she will also be meeting the bosses of some of the big banks including Goldman Sachs and jp morgan for private talks. On wednesday the boss of hsbc said hes preparing to move around 1000 of his 5000 london staff to paris. That would mean around 20 of its european revenue leaving the uk, worth several billion dollars. Swiss rival ubs also told the bbc that 1000 jobs may go in london as a result of brexit, again around a fifth of its workforce. And according to a report in the german newspaper handelsblatt today, Goldman Sachs may halve its london workforce, moving 3000 staff to new york and continental europe, a thousand of those to frankfurt. But when pressed on the matter by another news agency, Goldman Sachs said it has yet to make a firm decision. Our Business Editor simon jack is in davos where hes been speaking to the Chief Executive of barclays, jes staley. Jes staley has been singing the praises of londoners, but i wonder if that comes as any surprise . All banks have been looking at contingency plans, and as you said, hsbc have triggered theirs, they said we always said we would move a thousand people if we were to leave the Single Market, and that is exactly what we are going to do. But a lot better news for theresa may from the boss of barclays. He told us from the boss of barclays. He told us what he thought about the future of london as a Financial Centre. As isaid of london as a Financial Centre. As i said before, of london as a Financial Centre. As isaid before, i of london as a Financial Centre. As i said before, i dont believe that Financial Centre will leave the city of. I think the uk will continue to be the financial longs for europe. We may have to move certain activities, we may have to change the legal structure that we use to operate in europe, but i think it is going to be at the margin, and will be manageable. You have a Banking Licence in dublin and a big business in the us. Is it a sensible conclusion to make that some of those activities might go either to new york or dublin . We have a Bank Subsidiary in ireland, which is part of the eu, and the largest credit ca rd of the eu, and the largest Credit Card Operation in germany, so we have quite a presence in germany, and we have an office in france. We are the largest underwriter of european sovereign debt, so when european sovereign debt, so when European Union countries issue their own debt, the largest Bank Underwriter in the world is ba rclays, underwriter in the world is barclays, so they will want us to staying gauged, we will want to stay gauge. Whether we will have to root some activities through ireland do something in germany, those are the we are looking at. But the bulk of what we do will continue to occur in london, in my view. Having been pariahs in many areas, bankers, do you find people are now rolling out the red carpet . It is interesting that it wasnt too long ago that no one quite wanted a banker in their backyard, and all of a sudden we are being invited over for backyard, and all of a sudden we are being invited overfor the barbecue interesting stuff staying with the banks, theresa may speaking today, but she is obviously going to be keen to speak to the big bosses of the banks. Thats right. She will be meeting with bosses, the Chief Executive of Goldman Sachs, larry fink, the boss of blackrock. These are Card Carrying Members of the global elite that she has been so scathing about, so that will be an interesting meeting. She will be trying to reassure them, we may be leaving the Single Market but we wa nt leaving the Single Market but we want the best possible access to the Single Market, we will fight for access to the Financial Services arm to get good access to europe, and as you just heard jes staley say, ba rclays is you just heard jes staley say, barclays is the biggest underwriter of european bonds in the world, european governments rely on london to do some of the business, so a lot of people thinking it would be anyones interest on either side for those services to be disrupted. London is the wholesale bank for the rest of europe. If your bank close down and you couldnt get to it, it would affect your life quite a lot, and that is what people are banking on. Shes probably limbering up right now for her speech which is in 35 or a0 minutes. What sort of reception do you think she will get . I think she will get a fairly cool reception. She will get everyones attention, people will know what she means, why she wants to leave the Single Market, what deal she is after, but i think the political reality is that at some point, the other 27 countries have to believe that this is a club that it is better off being in that out. We heard the german minister saying that whatever deal gets done, it must be inferior to membership. She will get an interested audience who will get an interested audience who will say, how can you pull this off, and what exactly is it that you want . She spells out, we want the best possible access, you are our friends and partners, we may be leaving the European Union but we are not leaving europe. Thank you, simon. I understand it is minus 20. You look cold it is quite cold. You are doing very well despite the challenges. See you soon. Nice and warm in here limbering up. As soon as you said that, i am imagining limbering up. As soon as you said that, Iam Imagining her. Theresa may in her hotel room getting ready, pacing the floor. 0k, sally lets touch on some of the other stories making headlines around the world. Renegotiating the Nafta Trade Deal with canada and mexico is the trump administrations top Trade Priority according to Commerce Secretary nominee wilbur ross. He was speaking to us senators at a Confirmation Hearing on his nomination. Mr ross said china was the most protectionist country among large economies but said nafta is logically. The first thing for us to deal with shares in Tv Streaming Service netflix soared as much as 9 on the news it is growing much faster than expected. Netflix added just over 7 million new subscribers in the last three months of 2016 a third more than forecast and expects to break the 100 million mark by the end of march. Netflix has invested heavily in original content whilst ending deals with top studios a gamble that is paying off. Shares of Cathay Pacific have fallen sharply after the Hong Kong Based airline said it would restructure and cutjobs in the face of what it calls huge pressure on our business. Cathay is facing the rise of low Cost Carriers in asia as well as expansion by its premium rivals and uncertainty about the global economy. Investors though are concerned by a lack of detail about the restructuring, which cathay describes as its biggest shake up in 20 years im glad you mentioned that, the reasons why the shares were down, because normally when a countries as we are cutting jobs, shares go up. They have been hit very hard. They are ina they have been hit very hard. They are in a bad way. Very good airline, though. The other big story Coming Out Of Asia Today a court in south korea has rejected a request for an Arrest Warrant of the defacto boss of samsung jay y lee. Kevin kim is in seoul with the latest the last 2a hours may have been one of the longest and dramatic forjay y lee. At the cityjail, the head of south koreas Biggest Company waited through the night until the court came to a decision to release him. Early in the morning, thejudge said there wasnt sufficient reason to put him behind bars, and he was then seen walking out ofjail with a slight smile, and apparently then he went straight to work. The message jay y lee wants to send me be business as usual, but this may not be the and of the problems for the chief of samsung. The company has been accused of bribery, and he may still need to face a trial if Prosecutors Press charges. Samsung has continuously denied the allegations of bribery, and their position is that contributions have been made, but it wasnt in order to receive favours. Bribery is not an easy crime to prove under korean law. Neither has it been easy putting rich Family Members of Conglomerates Injails for wrongdoing. In previous years, despite accusations, no samsung member has served jail time, only suspended sentences, and for the time being, jay y lee will not be the first was white just for the time being, we will be keeping an eye on that. In terms of markets today, it was a mixed picture. We had janet yellen speaking yesterday, the head of the Federal Reserve. Everybody pricing in, maybe not pricing in but thinking we could see a rise in the Interest Rates in the us by march of this year. That has caused the dollar to move, and we have a weaker yen, which is caused a flurry of activity to write a whole week. In terms of europe, it isa a whole week. In terms of europe, it is a pretty mixed picture,. And Michelle Fleury has the details about whats ahead on wall street today. Yesterday we got a glimpse of the health of big banks, when Goldman Sachs reported strong profits. 0ptimism has surrounded the Financial Sector since the election of donald trump, a view that was reinforced after the Investment Banking giant gave an up week forecast for 2017. Will the halo effect extend to Credit Card Company American Express . It reports its Fourth Quarter results later this thursday, and watch out for earnings from Regional Bank bank of new york mellon. Investors will also hear from the Largest Technology services company, ibm, which is scheduled to turn in its Fourth Quarter results later in the day. Its cloud and Data Analytics businesses are expected to continue to drive revenue growth. 0n the economic front, a report from the economic front, a report from the Commerce Department is expected to show that Housing Starts rose in december from the previous to show that Housing Starts rose in decemberfrom the previous month. Good on you, michelle. Joining us is simon derrick, chief markets strategist, bank of new york mellon. This is interesting what is going on at the moment, because you have the Big Boss Of The American central bank, the Federal Reserve, janet yellen, she speaks and the dollar goes up galette before, trump speaks, he is trying to bring the dollar down we certainly started the year with a bang rather than a whimper. You are absolutely right, the really interesting story that could be building here is the difference on topic with regard to the dollar. We have a donald trump that over the course of the last 12 months in one form or another have said he isnt particularly keen on having a strong dollar because that undermines us exports and producers. 0n the other hand, you have janet yellen saying she is talking about hiking rates three times this year and again next year, which is bullish for the dollar, so who will win this particular battle . A tough call . A couple of places are Still Available on the Federal Reserve board, people who vote on Interest Rates, that might be key. Sorry we are being cut already, but you are going to come back and do the papers. We will talk to you very 0011. Papers. We will talk to you very soon. Still to come fiesstebeineieis bask; well be trying to get some answers. Youre with Business Live from bbc news. Have you seen you seen that advert. Laughter moneysupermarkets Twerking Businessman in high heels and paddy powers Cat Kicking Blind Footballers were some of the most complained about ads of 2016. All of the top had complaints about offensiveness, but the Advertising Standards Authority said that none had crossed the line. Guy parker is the Chief Executive of the asa and he joins us now. I have got to say, the commercial, the man with the big bottom, twerking, it gets me. Interesting, some of the ads that attract the largest number of complaints are not the ones we need to ban, we did not ban any of the top ten last year, despite the fact that we took action against thousands of ads, mostly for being misleading but not one misleading ad in the top ten last year. So which ones did you take action against . Well, numerous ads, 70 of the complaints that the uk public make to us are about misleading advertising, and the typical stuff is unclear pricing, conditions that are not clear enough 01 conditions that are not clear enough orare conditions that are not clear enough 01 are a conditions that are not clear enough orarea bit conditions that are not clear enough or are a bit hidden, surcharges that appear late in the day, exaggerated products and services, that is the meat and drink of what we do. It is really important that we look carefully at the complaints that we receive that ads are likely to cause serious and widespread offence but it is not enough that they are just this taste. White you say you take action, what action, what does that involve . Action, what action, what does that involve . You say that you take action. The ad is amended or withdrawn. In terms of those that have got all of our attention, those that we complain about the most, presumably the most effective . That we complain about the most, presumably the most effective . |j dont know, i do know that nine out of ten of last years top ten were television ads, half of the regulation we deliver at the moment is against advertising online, particularly companies own claims on their own websites and social media spaces, but it is still the television ads, that attract the highest numbers of complaints, ten out of ten of 2015s top ten. Thank you very much for your time, fascinating stuff, we all know the ad. People are not spoiling their pets, it seems, just a slight rise. Youre watching Business Live, our top story, the Chief Executive of barclays, jes staley, has told bbc news that he doesnt think brexit will change londons position as the Financial Centre of europe. He said there might need to be changes to how the bank worked, with business routed through the Republic Of Ireland or germany but the bulk of what barclays did would continue to be in the uk. There was a time when the people who ran the World Economy is considered globalisation as a good thing. However critics say its a recipe for inequality. Since 2015, the richest 1 has owned more wealth than the rest of the planet. Over the next 20 years, 500 people will hand over 2. 1 trillion to their heirs, which is roughly the gdp of india. The boss of a ftse100 Company Earns as much in a year as 10,000 People Working In Garment Factories in bangladesh. Holy schmackers sir angus deaton, economist and nobel prize winner, is in davos. Great to have you on the programme, earlier this week, 0xfam came out and said, they said the top eight richest people eion morgan 3. 6 billion of the poorest on the planet, and in fact they said this whole wealth gap divide is worse than they originally thought. Whole wealth gap divide is worse than they originally thoughtlj whole wealth gap divide is worse than they originally thought. I am not sure i believe the numbers. 0k, do you disagree with that . not sure i believe the numbers. 0k, do you disagree with that . I think i do, i havent had time to study it in detail but i am not sure they have done the corrections problem, and some of those people that they are portraying with are major philanthropists, like bill gates, i dont know how bill gates having so much money is bad for the world. Dont know how bill gates having so much money is bad for the worldlj dont believe 0xfam was portraying them as villains, they were trying to illustrate a point, the point they were trying to make this time last year, that a huge amount of wealth is in the hands of it all proportion. The issue of inequality does not seem to be being resolved. What is your view on solving this problem, which is one that is getting worse, not better . problem, which is one that is getting worse, not better . I think you have to be very careful to distinguish how it is that people got that money, many of those people, like bill gates, mark zuckerberg, became very rich by doing things that helped everybody in the world. There are other people, who got very rich by getting special favours from government which hurt other people, and i dont think it is helpful to see inequality as a blanket figure. Carlos slim, for example, perhaps got that money through special favours. Inaudible question we need to make sure that people do not get rich by stealing from other people, by getting special favours from the government and what we like to call rent seeking, and that is what we have got to stamp out. We also need a much better democratic system also need a much better Democratic Syste M Tha N also need a much better democratic system than we have, and then the inequality problem, as you call it, would look after itself. How do you raise the wealth, we mentioned earlier, 3. 6 billion of the poorest around the world, have you raise their wealth . They have been doing extremely well, actually, the decrease in poverty over the last ten years, the last 30 years, is one of the greatest achievements of mankind, and it has come through much maligned globalisation, so i dont understand that particular pa rt dont understand that particular part of the issue. You are at davos, do you think, every year, the great and the good gather there are, do we get anything from it, from the gathering you are at right now . Im sorry, i did not hear anything you said. Does davos achieve anything . I dont know, this is the first time i have been here, it is a very strange, very fragmented sort of event. With people who are clearly here for very different purposes. From your point of view, we have the inauguration of donald trump, to become the next us president , what do you think he will do in terms of helping or hindering inequality . think it is very difficult to know what trump is going to do, he has said many different things, some of those would make inequality more severe than it is, some may do something about it. If he actually goes about draining the swamp, as he likes to call it, i think that would help. On the other hand, it is not a very good signal that his Cabinet Ministers are all billionaires. We very much appreciate your time, i hope that you enjoy the rest of your davos. Thank you very much. Youre welcome. So many people there with different opinions, different views, gives you a taste of some of the discussions going on in davos. Simon back with us. And you very much the joining us. Netflix is doing very well, subscriberfigures joining us. Netflix is doing very well, Subscriber Figures through the roof. Huge shift in the way that people are watching films and television series. Gone are the days of the silver disc, everybody wants to be able to strea m disc, everybody wants to be able to stream over the broadband connection, people want net flicks, and amazon prime, itunes, bbc id player. Netflix. Bbci and amazon prime, itunes, bbc id player. Netflix. Bbc i player. And not a bulk of silver discs around. Stream lots, just wish my broadband was faster. I understand that. Nothing but dancing, cooking and talent shows on the bbc and itv, you may have a point, but dont forget, we are on the bbc this story about the painting. Talk about fa ke story about the painting. Talk about fake news, this is a fake painting. The story is, they have discovered two paintings, produced by the same quy two paintings, produced by the same guy, both claimed as being masterpieces, by sothebys, there was a famous scriptwriter in hollywood, william goldman, used to say, the only thing you know about hollywood, nobody knows anything. That is also drew about old masters isnt it the paint 400 years after the time. There is a new type of paint that they develop, silly, silly. You say silly, they got away with it for a long time and sold them for a lot of money. Im going to be checking those old bits of velvet with the lady on them. laughter short and sweet but we appreciate it, thank you, have a good day. Paint by numbers you cant beat it. That is all from us, we will see you 0011. Some of us will see some sunshine, some will be rather cloudy, generally speaking, a lot of dry weather across the uk, High Pressure in charge, the best of the sunshine is from the Bristol Channel to the wash, and points south of that, that is the best of the sunshine through the day, only a few breaks towards the day, only a few breaks towards the north east, fair bit of cloud around, not much rain. In the middle of the day, good spells of sunshine across southern most counties of england, after a cold and frosty start, could be backed up to four, five, 6 degrees. All in all, a pretty decent midwinter s day here, further north, a lot more cloud, some low cloud in places, bit of a grey day, some dry weather. Some breaks, and the eastern side of scotland. Generally a lot of cloud, thick enough to do is rain for the north and western isles, light rain, drizzle on and off, but fine and dry, if rather cloudy in northern ireland. A lot of cloud across most of wales. Some breaks to the west, and by the middle of the day, five oi and by the middle of the day, five or6 and by the middle of the day, five or 6 degrees in cardiff. The afternoon, the best of the sunshine will be in the southernmost counties, a few breaks but generally, a lot of cloud around, not much rain to speak of, template is peaking seven or 8 degrees, fairly typicalfor most is peaking seven or 8 degrees, fairly typical for most places. Double figures, western isles, 10 degrees in stornoway. Through the evening and overnight, clear skies, it will turn quite cold, touch of frost developing, where you have cloud, across the central suede, keeping temperatures up, five or 6 degrees. Clear skies, keeping temperatures up, five or 6 degrees. Clearskies, one ortwo. In the centre of major towns and cities, rural spots a feud degrees below is freezing a few degrees below is freezing a few degrees below freezing. Better sunshine across wales, part of the midlands, looks like a pretty decent day, and also the north of scotland seeing some decent sunshine. In between those two areas, fair bit of cloud, temperatures in single figures for most places, six, seven, 8 degrees will be fairly typical, and looking towards the weekend, High Pressure in charge of the weather for the most part, maybe a little bit of rain but for most places, it is fine and dry. There will be a fair bit of cloud around, not overly warm, single figures through the weekend, four, five, 6 degrees, fairly typical. Hello. Its thursday, its nine oclock. This morning theresa may will tell business and political leaders at the World Economic Forum Meeting in the Swiss Resort Of Davos that the uk is open for business. Its the Prime Ministers first Brexit Speech since she said on tuesday that britain could not possibly stay in the Single Market and leave the eu. We will bring you her speech live. Also, are the British Press biased against muslims . Last month nine articles about muslims in uk news outlets were corrected after they were proven to be wrong, and this month has seen four so far. Weve been speaking exclusively to the activist waging a war on the false reporting which he says Breeds Division across the country. The sunday times article stated in its headline enclaves