From todays apple event we start with a major selloff in the financials the biggest driver in the market with the xlf falling more than 1. 3 citi dropping 7 today under pressure that regulators could crack down on the banks Risk Management systems the stock is now down more than 12 in the past two sessions guy . Dan nathan has been talking about this for a while one of the things weve said is todays banks are much different than ten years ago theyve become utilities you have to look at them differently and you have to factor in valuations much differently. Ill say this quickly about citi right now at 45 the stock is now trading 63 of tangible book, assuming that tangible book is accurate thats levels we last saw probably in the financial crisis these are trough valuations in terms of the price of tangible book i think Warren Buffett told you everything you need to know about us banks hes obviously paring down exposures in banks i think that tells you a lot as well in terms of citi, its
Which overwhelmingly passed a resolution to expand palestine rights that the well, the very welcome to you, this is on the international with the latest world news updates is good to happy with. This would begin in dont yet 50 west. 3 civilians have been killed and at least 8 small injured by ukrainian shelley. The, the local authorities will pull the kid forward, seize using these 2 high mas well kits. You talked to coach via a raleigh, celebrating the 10th anniversary of the referendum of the dont. Yes, were public will keep you fully updated as more information comes in. Meanwhile, russian falls, this is comped, its several assessments that are new, offensive, new frame, 2nd largest city hall, called thats according to the Russian Defense ministry of correspond to the shape always brings as more details on this. Well, its important for several reasons. I suppose its not unexpected in the blogosphere and anyone watching the conflict in ukraine, its been somewhat expected that the Rus
Its 8am in singapore, and 9am injapan where people in the north of the country are waking up to the news that a north Korean Missile has flown over them in the last two hours. Fired from sunan near pyongyang in north korea, it made its way towards the island of hokkaido and landed in the sea 12,000 kilometres east of cape erimo. Shinzo abe the Prime Minister ofjapan has called it an unprecedented, serious and grave threat to his country. Rupert Wingfield Hayes is in tokyo. Japanese cabinet officials have said that they would be taking appropriate steps in response. What could the response be . There is not a great deal that japan could the response be . There is not a great deal thatjapan can do. They have already imposed very tough sanctions on north korea. There is basically no trading or relationship between japan and in basically no trading or relationship betweenjapan and in to north korea. Japan has reinstalled Ballistic Missile systems, they are now practising with civil defence
Overnight will be higher than the Daytime Average for this time of year. They will get higher still tomorrow. They are tempered somewhat by these gusty winds. Trans pennine route, across the east of the grampians, you will get buffeted during the rush hour. Chilly air following to the north, but further south, we could have 15 or 16 celsius tomorrow. We will start to see something potentially more stormy in the middle part of the week. More on that later. Hello. This is bbc news. The headlines thousands of Prison Officers in london and the South East Of England are to get an instant pay increase of between £3000 and £5000. Ministers said they wanted to attract the best talent after concerns the Prison Service was understaffed. Iraqi forces say theyve taken several villages to the south of mosul, hours after launching a major offensive to retake the western half of the city from Islamic State militants. Save the children warn theres around 350,000 children trapped in the city. The Chi
Optimistic that there will continue to be new ways of people as indignant and is angry as seymour hersh. Whether anyone can persist for as many years and have as many scoops in stories says seymour hersh, that i am doubtful of, certainly not that there will be tremendous investigative journalists. It is also a new world. The internet has given us all sorts of new possibilities. What is we is snowden releases his material. He would have leaked that material to a journalist. The nature of traditional journalism has been turned upsidedown. [inaudible question] maybe i am misremembering. Them the least talented he predicts that the u. S. Would be invading iran and make a really strong stand on that which did not pan out obviously. Zero number of times that the bush of lustration had very specific and was making very specific plans for an invasion. That never happened and people got it wrong. What i say in the book and a number of people told me is that when his articles kept coming out and