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Speaker 1: Devin Gray are UK correspondents with US Elogevin Hi. The

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Speaker 1: so all it took was a very good phone call

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Speaker 1: with Donald Trump. Yeah, so it would appear so overnight

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Speaker 1: news here coming in that the EU is going to

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Speaker 1: be given more time with the US to try and

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Speaker 1: come to some trade deal. And that's been after some

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Speaker 1: pretty sparky exchanges between the pair. Just looking back at

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Speaker 1: the history of all this, of course, Donald Trumper announced

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Speaker 1: last month of twenty percent tariff on most EU goods.

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Speaker 1: It was later half to ten percent, allowing time for

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Speaker 1: more negotiations. That ten percent was going to run until

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Speaker 1: the eighth of July. Then on Friday he said, I'm

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Speaker 1: really really frustrated with the negotiations. He says, the EU

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Speaker 1: is just playing along, and so he said, right, we're

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Speaker 1: going to slap fifty percent tariffs on by the first

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Speaker 1: of June. However, over the weekend it would appear, as

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Speaker 1: you said, a good phone call between the European Commissioner

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Speaker 1: Ursula vonder Lion and Donald Trump, in which they now

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Speaker 1: have put things on ice, and it looks like that

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Speaker 1: they are going to continue discussing things with a new

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Speaker 1: deadline of the ninth of July. Donald Trump long criticizing

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Speaker 1: what he says is an unfair trade relationship with the EU.

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Speaker 1: In other words, the US imports more from the EU

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Speaker 1: than the other way round. But at the moment, at

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Speaker 1: least more time for consultation, which will be a huge

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Speaker 1: sigh of relief for some countries across Europe. What are

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Speaker 1: we expecting the out of the Supreme Court today? Very

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Speaker 1: interesting judgment coming up here. There's a lot of detail

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Speaker 1: in this and I'll try and keep it simple, but basically,

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Speaker 1: two former city finance traders were jailed in this country

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Speaker 1: for rigging the interest rates, in other words, fixing them

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Speaker 1: artificially to create a bigger fees. However, there have been

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Speaker 1: concerns raised by senior politicians here that they may have

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Speaker 1: been series of miscarriages of justice. Now, in all, there

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Speaker 1: were nine criminal trials, and if the Supreme Court rules

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Speaker 1: that there has been a miscarriage of justice, it could

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Speaker 1: lead to a quashing of all the remaining convictions. Now.

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Speaker 1: Tom Hayes is the name of a former trader at

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Speaker 1: the Swiss Bank UBS. He became the first banker to

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Speaker 1: be jailed for rigging interest rates back in twenty fifteen.

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Speaker 1: He was accused as well in the United States of

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Speaker 1: being a ring master of an international fraud conspiracy and

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Speaker 1: sentenced to fourteen excuse me, sentenced to fourteen years in jail.

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Speaker 1: He was not alone. But since then there have been

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Speaker 1: all sorts of talks about actually they were encouraged by

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Speaker 1: the governments of their own countries to do this, and

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Speaker 1: actually what they did wasn't illegal. It was just a

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Speaker 1: bit naughty sort of thing. So that's what the Supreme

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Speaker 1: Court is looking at today. But as I said, far

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Speaker 1: reaching consequences for the other court cases that involved this

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Speaker 1: so called rigging scandal. Kevin, what do you make of

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Speaker 1: this renationalization of Southwestern Railway? Yeah, fascinated this. So the

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Speaker 1: railway here were always, of course in the government hands

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Speaker 1: until under Margaret Thatcher's government it was decided that they

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Speaker 1: were going to be privatized, but not all the train

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Speaker 1: services were privatized to one company. In fact, it was

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Speaker 1: split to about a dozen different companies. So if you

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Speaker 1: were going on a long journey, you may well be

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Speaker 1: buying a ticket, but in fact that money would be

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Speaker 1: split between the different train companies operating the different routes.

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Speaker 1: It's never been perfect by any means, but a lot

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Speaker 1: of people believe it was a lot better than under

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Speaker 1: the days of the old British rail were the new

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Speaker 1: government Labor government always said when these contracts come up

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Speaker 1: for renewal, we will renationalize, and the first contract for

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Speaker 1: south Western Railway, which operates services out of London to

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Speaker 1: the southwest of England, has now expired and has now

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Speaker 1: become renationalized. It's very interesting the first of many contracts

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Speaker 1: coming up in the next year or so, and interesting

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Speaker 1: that the Transport Minister wouldn't say what it would mean

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Speaker 1: for ticket prices, but did say it would mean more

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Speaker 1: money invested in the railway infrastructure. Either way, Labor, the

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Speaker 1: party that's come up with this, I think, is going

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Speaker 1: to have to show people that it is better under nationalization.

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Speaker 1: But plenty of people with a long memory Heather will

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Speaker 1: think back to those days in the seventies early eighties.

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Speaker 1: I think it was when frankly British rail well, it

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Speaker 1: seemed to be not working more the days than it

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Speaker 1: was working. However, one sad reminder the very first service,

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Speaker 1: the early morning service that started well, there was a

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Speaker 1: bit of a train, but then you had to get

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Speaker 1: on a bus because they were doing work on the line. Annoying. Hey,

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Speaker 1: thank you very much, Kevin, appreciate it. Kevin Gray, how

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Speaker 1: UK correspondent. For more from Hither Dupless Elan Drive, listen

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Speaker 1: live to news talks it'd be from four pm weekdays,

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Speaker 1: or follow the podcast on iHeartRadio