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Speaker 1: Good morning. It's Monday, the eighteenth of December here in London.

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Speaker 1: This is the Bluebeg Day Recuo podcast. I'm Caroline Hepkin.

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Speaker 1: Coming up today, Israel pushes back against growing calls from

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Speaker 1: allies for a ceasefire in Gaza. The fed's Austin Gouldsby

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Speaker 1: warns traders not to count their chickens on rake cuts

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Speaker 1: and from overcrowded prisons to record court backlogs. The UK's

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Speaker 1: criminal justice system is being pushed to breaking point. We

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Speaker 1: have a special report. Let's start with a roundup of

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Speaker 1: our top stories. Israel's European allies are pushing it towards

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Speaker 1: a cease far. Foreign secretaries from the UK, France and

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Speaker 1: Germany have all called for hostilities to end after three

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Speaker 1: of her massive hostages were mistakenly shot by the Israeli military.

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Speaker 1: Despite the shootings sparking widespread protests in Israel, Prime Minister

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Speaker 1: Benjamin Netanya, who has stood firm, so.

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Speaker 2: We will achieve all of our goals, elimination of the

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Speaker 2: release of all of our hostages, and I promise that

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Speaker 2: Gaza will not once again become a center of terror,

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Speaker 2: incitement against the State of Israel and attacks against the

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Speaker 2: state of.

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Speaker 1: Israel, Israel's Prime minister speaking therethrough a translator. Netanyahu may

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Speaker 1: come under more international pressure when the US Defense Secretary

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Speaker 1: Lloyd Austin visits the country later this week. Egypt, meanwhile,

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Speaker 1: is trying to reassure the shipping world that the Sewers

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Speaker 1: Canal is safe despite the conflict. The world's largest container

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Speaker 1: companies are starting to avoid roots via the Red Sea

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Speaker 1: after merchant ships were fired on near Yemen. The US

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Speaker 1: National Security Advisor Jake Sullivan says it's a global problem.

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Speaker 3: The hoodies represent a material threat to freedom of navigation,

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Speaker 3: to commercial shipping, to lawful commerce. This is not about

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Speaker 3: the United States and Israel. This is about the entire

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Speaker 3: international community.

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Speaker 1: Sullivan was speaking after Muller MRSK announced that their vessels

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Speaker 1: would divert around the Red Sea so As Canal transit

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Speaker 1: fees are a major source of foreign currency for Egypt,

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Speaker 1: which is battling its worst economic crisis in decades. Chicago

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Speaker 1: Fed President Austin Goolesby says that it is too early

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Speaker 1: to declare victory over inflation. Goolesby has been more optimistic

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Speaker 1: than most policymakers about the prospects of a soft landing

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Speaker 1: for the US economy, but he says that there's still

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Speaker 1: work to do to get inflation down to two percent.

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Speaker 1: Here's what he told CBS is face the nation.

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Speaker 4: Twenty twenty three looks like it's going to end up

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Speaker 4: being a very substantial reduction in inflation without a big

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Speaker 4: increase in the unemployment rate. That's the golden path that

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Speaker 4: I talked about. But we're still above the target. We

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Speaker 4: got to get inflation down to target before. Until we're

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Speaker 4: convinced that we're on path to that, it's an overstatement

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Speaker 4: to be counting the chickens.

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Speaker 1: Golesby and his fell policymakers left interest rates unchanged at

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Speaker 1: last week's meeting and signaled that they expect three rate

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Speaker 1: cuts next year. On Friday, we'll get fresh data on

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Speaker 1: the Fed's preferred inflation gauge, that is the Personal consumption

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Speaker 1: Expenditures price Index. Now, the White House has taken aim

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Speaker 1: at former President Donald Trump over his use of inflammatory

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Speaker 1: language to describe immigrants. Bloomberg's Ed Baxter reports now on

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Speaker 1: the Republican front runner's remarks.

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Speaker 5: The White House says they are un American. The statement says,

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Speaker 5: echoing the grotesque rhetoric of fascists and violent white supremacist.

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Speaker 5: Trump was trying to rally his base around the issue

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Speaker 5: of immigration.

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Speaker 4: They're poisoning the blood of our country, that's.

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Speaker 5: What they've done, saying they're coming in from all over

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Speaker 5: the world.

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Speaker 2: From Africa, from Asia, all over the world.

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Speaker 5: They're pouring into our country. Now, the White House says

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Speaker 5: clear oppression and a threat to democracy, and Trump rival

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Speaker 5: Chris Christi on CBS has heard on Bloomberg. I don't

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Speaker 5: know how you could take someone like that and say

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Speaker 5: that they're fit to be president of the United States.

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Speaker 5: Trump continues to hold a massive lead in the polls

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Speaker 5: or the GOLP, ed Baxter Bloomberg Radio.

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Speaker 1: Now a Britain may end the year in recession. That

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Speaker 1: story now from Bloomberg's James Wilcock.

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Speaker 6: The UK economy is in a miserable state. Inflation is

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Speaker 6: expected to come in at four point three percent later

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Speaker 6: this week, and third quarter GDP is currently zero, but

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Speaker 6: recent week retail sales have made some economists wonder if

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Speaker 6: the rarely watched revised day to this Friday could take

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Speaker 6: UK growth into the negative zone. It's marginal territory, but

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Speaker 6: it's a sign of Britain's woes, of the economists of

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Speaker 6: choosing to decide between dagnation and recession, and all leaves

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Speaker 6: Prime Minister Ishi Sunac with a bleak backdrop at the

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Speaker 6: end of his first full year in office in London.

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Speaker 6: James Wilcock Bloomberg.

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Speaker 1: Radio Now Ryana's CEO will receive a one hundred million

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Speaker 1: euro bonus if the airline's shares keep rising. According to

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Speaker 1: Apauls in The Financial Times, Michael Live will earn the

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Speaker 1: sum in share options if the company maintains a share

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Speaker 1: price of twenty one euros for twenty eight consecutive days.

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Speaker 1: The potential payout is part of a bonus plan originally

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Speaker 1: set to expire in twenty twenty four, which was extended

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Speaker 1: until twenty twenty eight. Last December, when holdings were below

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Speaker 1: thirteen euros. Ryanez shares closed at a record weekly high

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Speaker 1: of eighteen euros eighty four on Friday. Data compiled by

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Speaker 1: Bloomberg shows a list are optimistic that stock options will

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Speaker 1: continue to rise, betting on an average target price of

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Speaker 1: over twenty four euros in the next year, and just lastly,

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Speaker 1: staff at Citygroup have been told they can work from

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Speaker 1: home during the festive period. Bloomberg's Tiba and a Bio

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Speaker 1: has the details.

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Speaker 7: Employees have to stay in their country of employment, but

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Speaker 7: Citygroup is again allowing staff to work remotely for the

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Speaker 7: final two weeks of the year. The firm is widely

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Speaker 7: considered to have some of the most generous flexible working

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Speaker 7: guidelines in the financial section. To most staff are expected

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Speaker 7: to be in the office just three days a week,

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Speaker 7: but City Group has signaled workers will face consequences for

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Speaker 7: failing to comply with attendance policies. News of the festive

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Speaker 7: perk comes as the lender is set to make job

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Speaker 7: cuts in the midst of its biggest overhaul in decades.

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Speaker 7: In London, Tiwa Adubayo Bloomberg Radio.

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Speaker 1: I think we all need a bit of festive cheer,

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Speaker 1: don't we, Even if you can't actually face decorating the

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Speaker 1: tree yourself. Bloomberg has this fantastic guide to all the

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Speaker 1: nicest hotels. I think that will deliver you relaxation plus

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Speaker 1: Christmas cheer. How about an in room tree adorned with

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Speaker 1: jewelry that you can then keep a lieu of ornaments.

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Speaker 1: It's all on offer in New York luxury resorts going

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Speaker 1: all out this season with in suite decorating marsh mellow

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Speaker 1: bubble baths from an elf. Anyway, it's on the Bloomberg

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Speaker 1: terminal if you want to have a read of that.

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Speaker 1: As we yes get into I suppose the quiet period

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Speaker 1: of the year, but there are is still important news

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Speaker 1: for us to cover. Of course, for you here on

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Speaker 1: Bloomberg Radio, want to turn our attention to one of

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Speaker 1: the most serious stories over the last three months. Israel's

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Speaker 1: government faces growing cause now for a cease far from

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Speaker 1: the UK, from France and Germany. Israel's Foreign minister has

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Speaker 1: said that any call for a ceasefar though with her

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Speaker 1: mass is a quote prize for terrorism. This is it

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Speaker 1: was revealed that three hostages were mistakenly shot by the

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Speaker 1: Israel Defense forces. This revealed over the weekend. Let's bring

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Speaker 1: in now to discuss Bloomberg Senior editor Bill Ferries. Good morning, Bill,

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Speaker 1: thanks for being with us. How much pressure from allies

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Speaker 1: is there in terms of halting the war? Is that

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Speaker 1: really a shift in terms of the weight of a

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Speaker 1: pressure on the Israeli government.

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Speaker 8: It certainly seems to be. You're seeing, you know, you're

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Speaker 8: seeing some of Israel's closest allies at this point, raising

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Speaker 8: the pressure on Prime Minister and Yakho's government to either

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Speaker 8: quote agree to a short term cease fire or in

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Speaker 8: some cases consider a longer term sustainable ceasefire. That was

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Speaker 8: sustainable ceasepire was the terminology. We saw a letter from

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Speaker 8: David Cameron and Anelena Beerbach over the weekend, So the

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Speaker 8: pressure is ramping up. The US Defense Secretary is expected

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Speaker 8: in Israel on Monday as well, and the US position

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Speaker 8: is still firmly behind Israel, but increasing the pressure for

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Speaker 8: them to change tactics and how they operate in Gaza

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Speaker 8: as well. So I think Israel feeling increasingly isolated, even

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Speaker 8: by some of its closest friends as this war continues.

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Speaker 1: Yeah, Aza indeed has pushed back against those calls for CEESPI,

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Speaker 1: even though, as you mentioned, the article from the Foreign

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Speaker 1: Sectory David Cameron and his opposite number in Germany. Was

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Speaker 1: it long and it was sort of quite carefully worded,

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Speaker 1: but it did feel like a ratcheting up of pressure.

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Speaker 1: Is has pushed back against that, how.

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Speaker 8: Well, we you know. I think you mentioned that at

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Speaker 8: the top the comments from from Israel's Foreign minister, who

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Speaker 8: said any call for a ceasefire with MAMAS is a

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Speaker 8: prize for terrorism, and we won't agree to it. That said,

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Speaker 8: there is some reporting by CNN and others that Israel

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Speaker 8: has made some progress and talks with Qatar has been

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Speaker 8: the traditional mediator in this conflict between Israel and MAMAS

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Speaker 8: about some sort of an agreement that would potentially pause

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Speaker 8: fighting and and ideally allow for more hostages to be released.

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Speaker 8: Israel's struck a very defiant tone against the pressure so far.

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Speaker 8: But the reality is that even domestically within Israel, Prime

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Speaker 8: Minister Nanyahu's government is under increasing pressure after those three

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Speaker 8: hostages were apparently killed by Israeli forces last week, So

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Speaker 8: that tone of defiance may be something that shifts. This

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Speaker 8: episode kind of works its way through the Israeli political process.

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Speaker 1: Yeah, indeed, and there were protests around this in Isuela

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Speaker 1: over the weekend. The IDEF talking about the three hostages

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Speaker 1: having been killed, I mean, that's a pretty devastating mistake.

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Speaker 8: It is, and you know, even from the Israeli Defense

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Speaker 8: forces comments about it, it seems that those hostages who

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Speaker 8: were trying to escape their captors had done just about

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Speaker 8: everything they could to signal that they were Israelis and hostages.

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Speaker 8: They apparently weren't wearing shirts to show that they don't

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Speaker 8: have any explosives or weapons on them. They had their

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Speaker 8: hands up, they were carrying what appeared to be a

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Speaker 8: white flag. They even spoke, tried to speak an Hebrew

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Speaker 8: to the soldiers. So that episode has caused obviously a

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Speaker 8: lot of anglish within Israel and among Israel's critics in

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Speaker 8: this conflict. Some people to say, you know, if they're

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Speaker 8: hitting getting some of their own citizens by accident, what

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Speaker 8: does that mean for how they've been looking after civilian

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Speaker 8: deaths and Gaza. So it's a very uncomfortable position for

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Speaker 8: the government right now.

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Speaker 1: Meanwhile, the US Defense actually Lloyd Austin heading to Israel,

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Speaker 1: Bahrain and cut off to stopping Kuwait at the weekend.

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Speaker 1: What of this next leg in US diplomacy, it's the

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Speaker 1: second visit for Austin to the region.

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Speaker 8: Yeah, you've heard the US increasingly be critical of how

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Speaker 8: the civilian casualties are playing out and Gaza. More and

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Speaker 8: more stark warnings from the US that they think the

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Speaker 8: civilian death count and casualty count shouldn't be so high.

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Speaker 8: I think what we're expecting Lloyd Austin to do really

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Speaker 8: behind closed doors is start to pressure Israel more to

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Speaker 8: have a much more targeted campaign that says, you know,

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Speaker 8: if you're going after the massive leaders you're gonna you

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Speaker 8: should do it with groups of elite troops doing raids

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Speaker 8: as opposed to trying to bomb buildings or bomb meeting

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Speaker 8: halls and places like that. You know, basically looking for

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Speaker 8: attacks that have less likelihood of civilian casualties.

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Speaker 1: Bill, thank you so much for joining me this morning.

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Speaker 1: Bloomberg Senior editor Bill Ferries then giving us the latest

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Speaker 1: on the pressures on the Israeli government of the third

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Speaker 1: month of the war between Israel and Hamas. Thank you

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Speaker 1: so much for your time. Now, the English and Welsh

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Speaker 1: criminal justice system is being pushed to breaking point, the

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Speaker 1: subject of our next conversation. The Crown courts of England

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Speaker 1: and Wales, which deal with the most serious offenses, are

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Speaker 1: buckling under a record backlog of almost sixty seven thousand cases,

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Speaker 1: a figure that has doubled since twenty nineteen according to

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Speaker 1: government data. For those who are victims of the most

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Speaker 1: serious crimes like sexual assaults, those weights are having a huge,

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Speaker 1: huge impact on their lives and our legal report to

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Speaker 1: Catherine Gammel has been looking into this story, and she

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Speaker 1: joins me, now, good morning, thank you for being with u.

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Speaker 1: Somebody big radio. Why our court backlogs just so lengthy

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Speaker 1: and why do they continue to grow?

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Speaker 9: Catherine, Yeah, thanks very much for having me this morning.

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Speaker 9: So the crown courts of England and Wales, and these

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Speaker 9: are the courts which deal with the most serious offenses,

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Speaker 9: are buckling under a record backlog of almost six sixty

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Speaker 9: seven thousand cases, as you said, which is almost doubled

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Speaker 9: since twenty nineteen. So nearly ten thousand of those are

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Speaker 9: prosecutions involving sexual offenses, including rape. So you know, factors

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Speaker 9: that go into that is the government reduced sitting days

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Speaker 9: a few years ago. Barristers are leaving in record numbers.

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Speaker 9: There's prisons that are overcrowded, and physical court buildings that

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Speaker 9: are being closed because of crumbling conditions. So this situation

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Speaker 9: really is worsening and it really is a symptom of

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Speaker 9: a criminal justice system that appears to be a breaking point.

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Speaker 1: Yeah, the crumbling of the court system is really striking

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Speaker 1: in the way that you've described it. The human cost

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Speaker 1: then to these delays.

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Speaker 9: Catherine, Yeah, that's a really important point of this story

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Speaker 9: that we really tried to highlight in our story because

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Speaker 9: you know, the human cost of these delays is really apparent,

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Speaker 9: especially through the sexual offense victims. So these are some

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Speaker 9: of the most urgent and sensitive that are in the system.

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Speaker 9: We spoke to a victim who was told on the

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Speaker 9: eve of her trial of four men accused of rapinger

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Speaker 9: that it would have been postponed for a further year,

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Speaker 9: and she told us that this was actually the most

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Speaker 9: devasting part, devastating part of her case. Her case then

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Speaker 9: dragged on for another four years and the men were

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Speaker 9: eventually acquitted. She told us that she felt hopelessness with

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Speaker 9: the criminal justice system. You know. When she was asked

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Speaker 9: if something like this would happen to her again, would

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Speaker 9: she involve the police and the courts, she immediately said

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Speaker 9: said no. Claire Waxman, who's London's first Victims Commissioner, told

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Speaker 9: us that it was these it was very rare that

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Speaker 9: these types of cases go ahead on the actual day

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Speaker 9: and of course this brings all sorts of trauma to

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Speaker 9: victims who have already been extremely traumatized.

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Speaker 1: Yeah, there's a lot I say in the newspaper around

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Speaker 1: the concern around the sort of decriminalization perhaps with some

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Speaker 1: of these sexual assaults because of the numbers. What is

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Speaker 1: the government and the Labor Party proposes trying to do

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Speaker 1: to help?

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Speaker 9: Yeah, so, I mean the government right now is saying

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Speaker 9: that it's prosecuting more adult rate cases than in twenty

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Speaker 9: ten when the Conservative Party came to power, and they

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Speaker 9: say that they've launched a twenty four seven victims support line,

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Speaker 9: have extended a mounted court sitting days for the third

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Speaker 9: year in a row. For a Labor they you know,

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Speaker 9: they vote to restore basic services if they get into

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Speaker 9: power next year. An attempt to tap into voters ahead

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Speaker 9: of the general election, they said they want to bring

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Speaker 9: in space street courses as well.

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