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tv   Verified Live  BBC News  March 28, 2024 4:00pm-4:31pm GMT

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in the last p minutes... the former billionaire crypto boss — sam bankman—fried — has been sentenced to 25 years in prison for one of the biggest financial crimes in us history. these the live pictures from outside the manhattan central court where he has just been sentenced. we will have more reaction here on the programme. the un investigates, what is says, is a "plausible case" of israel using "starvation as a weapon of war" in gaza. scotland could become the first uk nation to provide terminally—ill people with assistance to end their lives. hello, i'm matthew amroliwala. welcome to verified live. let's start without breaking news in new york.
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in the past few minutes, sam bankman—fried has been sentenced to 25 years for what's been called, one of the biggest financial crimes in us history. the 32—year—old founded the crypto currency exchange ftx — which made him a billionaire — before it collapsed in spectacularfashion. he was found guilty of fraud and money laundering. this is the scene outside the manhattan court house, where he's just been sentenced. our correspond it is outside the courthouse, was inside for that moment of the sentencing. what was that like? ~ ., moment of the sentencing. what was that like? ~ . ., , moment of the sentencing. what was that like? a, ., , , that like? matthew, it was very impactful. _ that like? matthew, it was very impactful, everybody _ that like? matthew, it was very impactful, everybody in - that like? matthew, it was very impactful, everybody in the - that like? matthew, it was very l impactful, everybody in the room that like? matthew, it was very - impactful, everybody in the room is on tender hooksjust impactful, everybody in the room is on tender hooks just waiting to see what decision thejudge on tender hooks just waiting to see what decision the judge would hand down. it came after a lengthy preamble from judge kaplan. talking about his actions and his
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behaviours, talking about not only the crimes the jury had decided sam bankman—fried had committed but also talking about his demeanour, his likelihood of re—committing crimes if he was released early. and talking about his lack of contrition, showing that while sam bankman—fried would say something like "mistakes are made" he would not take responsibility, and the judge said that continued up until this day. find judge said that continued up until this da . �* , ., ., judge said that continued up until thisda . �* ,., ., , this day. and in terms of what is likel to this day. and in terms of what is likely to happen. _ this day. and in terms of what is likely to happen, is _ this day. and in terms of what is likely to happen, is there - this day. and in terms of what is likely to happen, is there any i likely to happen, is there any assertive indication from his defence team of any sort of appeal? well, what we know right now is that a sentence of 25 years has been handed down from the judge, including some years of supervised release, and part of what the judge said amounted that sentences was losses of $11 million. as you know, the defence had been asking for far less, just 5—6 years, and so we are waiting to hear what action they
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will take further, but for today thatis will take further, but for today that is the number handed down by judge lewis kaplan. just that is the number handed down by judge lewis kaplan.— that is the number handed down by judge lewis kaplan. just remind our viewers, because _ judge lewis kaplan. just remind our viewers, because we _ judge lewis kaplan. just remind our viewers, because we are _ judge lewis kaplan. just remind our viewers, because we are talking - viewers, because we are talking about billions of dollars. take us through what this man actually did in terms of the fraud, the money laundering?— in terms of the fraud, the money laundering? in terms of the fraud, the money launderin? ~ ., ., laundering? sam bankman-fried washa c to's laundering? sam bankman-fried washa crypto's golden — laundering? sam bankman-fried washa crypto's golden boy. _ laundering? sam bankman-fried washa crypto's golden boy, he _ laundering? sam bankman-fried washa crypto's golden boy, he was _ laundering? sam bankman-fried washa crypto's golden boy, he was the - crypto's golden boy, he was the founder of the ftx cryptocurrency exchange where customers could come and exchange their dollars and pounds for a cryptocurrency, and he assured those customers, as his ftx exchange was collapsing, that their money was safe. but when customers went to withdraw their funds, the funds were not there. the jury found that money had been moved to an investment fund and that sam bankman—fried use that money to enrich himself and his inner circle, to make political donations and charitable donations, dubai luxury real estate. when customers went to pull the money out, it wasn't there.
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now, thank you very much. that is our correspond in there at the courthouse. if there is more reaction in new york, will return there. with me is our cyber correspondent, joe tidy, who was the last person to interview bankman—fried before he was arrested in december 2022. let's start there, joe. when you did that interview back then, what was he like? ~ ., , that interview back then, what was he like? ~ . , ,., that interview back then, what was he like? ~ ., .,, he like? well, he was the same as he has been throughout _ he like? well, he was the same as he has been throughout this _ he like? well, he was the same as he has been throughout this trial. - has been throughout this trial. he was saying sorry and he was saying all the right things in terms of showing remorse, but never admitting to any deliberate criminal guilt. he said "i made some terrible business mistakes, none of it was deliberate," and i asked him it was incompetence or fraudulence, deliberate," and i asked him it was incompetence orfraudulence, which incompetence or fraudulence, which was incompetence orfraudulence, which was it? and he leaned towards incompetence without actually saying that. and that is the defence that he and his team have betrayed throughout this trial, the idea that he was a maths geek who was just completely out of his depth, did not know what he was doing, really bad records and auditing, didn't really keep a record of where the money was
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aware it was going. that was the claim. but throughout the case, we heard from a queue of different people who work for him at ftx, including his ex—girlfriend, saying that he did know what he was doing. it was all deliberate. he knew exactly what it was doing with people's money. and that he had a wish to become rich and powerful in spite of what he was buttering to the public as being a shabby person not really interested in personal wealth, more interested in giving to charity. fin wealth, more interested in giving to chari . ._ wealth, more interested in giving to chari . ., , ., charity. on the way to see reaction from the courthouse, _ charity. on the way to see reaction from the courthouse, because - charity. on the way to see reaction from the courthouse, because it i charity. on the way to see reaction l from the courthouse, because it has been packed throughout the proceedings, both during the trial last year, his parents also there to hear sentencing. and i think we will see those pictures in the next few moments. but in terms of that whole area of regulation, where are we with the crypto world?— area of regulation, where are we with the crypto world? there has been no real— with the crypto world? there has been no real material— with the crypto world? there has been no real material change. i with the crypto world? there has l been no real material change. ever since the ftx collapse and the
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events of 2022, there have been so many calls from politicians and regulators for action and activity. but we haven't seen any material change in that set up anywhere in the world. we are starting to see ramblings take place in the us and the uk, particularly around a type of cryptocurrency that might be easier to manage and handle and regulate, but what we are seeing is this kind of thing, like today, regulation by arrest and prosecution, whereby law enforcement are saying, "hang on a minute, cryptocurrency isn't regulated in the same way as other financial systems, however we know that what you were doing there is wrong and illegal." what i'm interested in hearing in terms of the court now when the reaction is from the victims. there are about 1.2 million people who were still out of pocket from the ftx collapse. the defence has been maintaining that 11 billion we heard today, i have heard it is 8 billion, most of that money that has
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gone missing has been recovered by the debtors and will be given back to the individuals, but of course they will be given the monetary terms that they lost back in 2022. and of course, if you had one bitcoin on the ftx exchange in 2022 you would have lost 16,000, but if you would have lost 16,000, but if you had been given back that bitcoin, today's value is more like 70,000. i would bitcoin, today's value is more like 70,000. iwould be bitcoin, today's value is more like 70,000. i would be very interested to see whether victims make of this. i know one particular high—profile victim that has been a leading campaignerfor victim that has been a leading campaigner for other victims, victim that has been a leading campaignerfor other victims, he is campaigner for other victims, he is about campaignerfor other victims, he is about £2 million out of pocket. and i know from speaking to a couple of days ago, he was hoping for a much lengthier sentence than this. we are 'ust lengthier sentence than this. we are just watching — lengthier sentence than this. we are just watching those _ lengthier sentence than this. we are just watching those life _ lengthier sentence than this. we are just watching those life pictures. - just watching those life pictures. that was his parents just leaving. we saw them arriving at the court. those are the life pictures of their departure. there will be shocked of course amongst the defence. we heard from erin, our correspond in. they have been arguing that the sentence should be around five years, so it
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is markedly different to that. and you got a sense of why it was markedly different from what the judge said in terms of his comments, but in terms of the trial, the judge pointed out comments from his former girlfriend, zeroing in onjust what he actually knew, what the motivation was here?- he actually knew, what the motivation was here? yes, and the 'udue motivation was here? yes, and the judge came — motivation was here? yes, and the judge came back— motivation was here? yes, and the judge came back in _ motivation was here? yes, and the judge came back in his _ motivation was here? yes, and the judge came back in his summing i motivation was here? yes, and the| judge came back in his summing up motivation was here? yes, and the i judge came back in his summing up at the end there, came back to some of the end there, came back to some of the things that she said, caroline emerson. she was the ceo who was in charge of his hedge fund. and he claimed all the way through this that he didn't really have much to do with the day—to—day running is of that hedge fund, that crypto fund, making big risky bets on cryptocurrencies. he said that was caroline's department. very quickly, when she had he were arrested, she said she would testify against him. we heard her words being thrown back at sam bankman—fried in the judge's comments, saying for example that some of the things he was saying to her inprivate were not what he was
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saying in public about the idea of there being a 5% chance that "i will become president one day." that boastful behaviour. and she says that he knew exactly what he was doing when they were using ftx customer funds to fund his other big risky company and he wanted to make these two companies as big as possible and as powerful as possible so that he could be politically influential. and we saw also, at the beginnings of this whole process, that it was revealed that they were big donations, millions of pounds donated to the democrats and also the republicans in a much more shadowy way, because he did not want that to get out that he was also giving donations to both sides. thank you for taking us through all of that. and some of the background, you can see there in the foreground of the live picture, the microphone is all set up. in the coming minutes, we expect to get more reaction. presumably from the prosecuting team. they will be pleased that the outcome. 25 year
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sentence handed down by thejudge, appointed to, because if you are in the uk you can watch a special programme byjoe tidy. it is called nine crypto craze moments. it is there already on the bbc iplayer. so i recommend that, joe tidy with a lot of really fascinating background detail. and he will be back with me a little bit later in the programme as we get more detail from the courthouse. let's move on to the middle east. close quarters fighting has continued between israeli forces and palestinian gunmen in the gaza strip, particularly around three of the territory's hospitals. the israeli military says its eleven—day siege of al—shifa hospital in gaza city has resulted in the killing of at least 200 hamas and islamicjihad fighters. a spokesman for the palestinian civil defence says innocent people have been killed, and that there were women and children trapped by the fighting.
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aside from that, there's been a lot of focus on the comments made by the un to the bbc. the united nation's most senior human rights official, volker turk, says, there is a "plausible case" that israel is using "starvation as a weapon of war". i spoke to james elderfrom the un children's agency, unicef, and he described some harrowing details of what children and teenagers have been saying to him. we get asked so constantly about, "do people still have hope?" and i often refer to, "yes, mothers will explain that is all they've got left." and then we have spoken to teenage girls who are so utterly exhausted and depressed by this, remembering things like there are 3,500 people to a shower for an adolescent girl, and some of these adolescent girls have said they wish they were killed, they are so exhausted by this nightmare that they have said they want it to be over and they want to be hit by a bomb.
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and the horrendous reality is that you hear things here all the time that you shouldn't normally hear, and you hear them time and again, matthew, whether it's that or whether it's talking to a child who has lost their entire family. and, yes, when the bombardments are intense, as they often are, particularly they seem to be intense since the security council resolution on monday, when you're lying in bed because there is no protection here, or certainly for everyone else, you lie there just waiting. and you think it does feel like a coffin, a bit like a coffin, and you think of those children who have done that every single night for 5.5 months. it's why a ceasefire is a game—changer — get hostages home and allow a child and their mother to go to bed knowing with full knowledge that they'll wake up. they haven't had that for a long time. those are extraordinary descriptions, james. just talk me through in terms of some of those comments from the un and the response we've had from the israeli spokespeople, in terms of aid, is it being blocked? i think the easiest thing for me to do is
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just to share numbers — just hard facts, matthew. in the first three weeks of march, one quarter of requests for aid convoys were denied. we have to take aid from the south. it's on a very busy coastal road. tens of thousands of people there. we need an access point in the north. when i've been in the north and i see of people hand to mouth, that universal symbol for, "please, hunger," when people in the north just say to me, "food, food, food." and it's very revealing why they say that. they say that because they assume the world doesn't know, because if the world knew, how would they be in that position? of course, the world does know. so when i see those people, or mothers hunched over paper—thin babies, given the nutritional crisis, there is an access point, a crossing 15 minutes away. when unicef has a convoy from our warehouse to when it reaches people, we have two load and unload trucks four times. so it is monumentally difficult,
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it is unnecessarily so, i guess if you want to be really optimistic this man—made imminent famine can be turned around if there is a willingness to make the right decisions, decisions for civilians here. that was james elder from that was james elderfrom unicef that was james elder from unicef talking to that was james elderfrom unicef talking to me in the that was james elder from unicef talking to me in the last hour. around the world and across the uk, you are watching bbc news.
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let me take you straight back to new york, remind you of those breaking developments of the last little while, because the new york court sentencing sam bankman—fried, the former billionaire crypto boss, who was convicted of fraud and money laundering last year, but we have had sentencing in the last half an hour and he has been sentenced to 25 years in prison. you can see the scenes outside of the court, you can see the microphone is already for reaction as the prosecuting team come out in the next little while.
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so we wait to get more reaction to that news that has recently broken. so what we are going to do is we are going to come away from that scene, but let's leave those pictures here at the bottom of our screens. so you will see any developments as we go through a number of other stories, and as soon as there is reaction we will return alive to new york. but let's turn to another important story. a bill that could make scotland the first uk nation to provide terminally—ill people with assistance to end their lives has been introduced in the scottish parliament. supporters of the assisted dying bill say it would ease suffering, but opponents are concerned, that some terminally ill people may feel under pressure to end their lives. it could be voted on next year. the campaign group dignity in dying says that more than 200 million people around the world have legal access to some form of assisted dying. switzerland has allowed assisted dying since 1942. the practice is lawful, irrespective of the condition of the person who requests it.
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in the us, medically assisted dying for adults is legal in 11 of the 50 states, including california, newjersey and washington. the benelux countries — belgium, the netherlands and luxembourg — all have laws that allow people who are not terminally ill to receive assistance to die. but in many countries, like japan, the practice of assisted dying is illegal. 0ur scotland editor, james cook, reports. that's just my favourite photo of me and steve together. we were out at a barbecue. gillie's husband, steve, died less than a year ago. he had throat cancer and was 56—years—old. gillie says even high—quality palliative care did not ease his suffering. it wasn't a good death because he was distressed and he was upset. and it wasn't what he wanted. he wanted that choice — he just wanted to go to sleep.
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to me, it's quite obvious thatjust to allow someone to go to sleep, it's so compassionate and kind and offers them the dignity that they want. and you think that option should now be available for people in a similar position? absolutely. i think everyone should have a choice — to decide how and when they die when they're terminally ill. that's why liam mcarthur is introducing a bill here at the scottish parliament which would allow some patients to request assistance to end their life. well, the terminal illness would need to be advanced and progressive. it would require the diagnosis not just of one but of two medics, who would also assess capacity, would discuss with the patient the reasons why they'd arrived at that decision, to ensure that there hasn't been undue coercion or pressure applied. so, how's your day been today? audrey has terminal cancer, but she does not want the option of an assisted death.
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instead, she has found comfort at st columba's hospice in edinburgh. having been here and feeling the way it scoops you up and it does, you know... and feeling the care and the expertise, the skills of people. and now, i mean, that may change, but now, i'm not afraid of dying. so you think there might not really be a need for this legislation if we, as a society, improved end—of—life care? yes, yeah. in a very holistic sense, yes. many doctors who specialise in palliative care also have concerns about the bill. the worry is that it's notjust a choice — l it becomes a suggestion, _ which then becomes an expectation, and that our vulnerable patients are at risk. i supporters of the bill know that moral, religious and practical objections must be overcome if the momentous change they propose is to become law. james cook, bbc news, edinburgh.
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there is polling on this issue — let's take a look. in a yougov poll, people were asked should the law be changed to allow someone to assist in the suicide of a person suffering from a terminal illness? 68% of respondents said the law should change. 14% said it should not. 18% said they weren't sure. the assisted dying for terminally ill was drafted by... alex cole—hamilton is msp for the scottish liberal democrats who's been a supporter of this bill since it was originally announced. we have human rights that protect every aspect of our lives, save one, and that is our departure from it. i want to know that if i am terminally ill, either in tremendous pain or suffering, that i would have the chance to say this far and no further and to leave this life on my
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own terms, and my own suffering and the suffering that my condition is causing my family as well. but this is very narrow in scope. you name some countries with very permissive assisted dying laws, this will only be available to people of a terminal diagnosis, two adults and two people who have mental capacity, that is assessed by two independent clinicians who ascertain firstly that their condition is terminal and secondly they are of sound mind and they are not being coerced into this decision. there are many safeguards that liam has worked very hard to garner from the best practice of other nations who have gone before us. ~ ., ., ., ., other nations who have gone before us. we will have more on that story a little later— us. we will have more on that story a little later here _ us. we will have more on that story a little later here on _ us. we will have more on that story a little later here on verified - a little later here on verified live. 0ne a little later here on verified live. one more story to squeeze in this half hour, because we have easter looming. many of us will have noticed how expensive chocolate eggs are at this year.
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this graph shows cocoa bean futures over the past 12 months. they've doubled in 2024 — and is up around 250% on 12 months ago. the recent surge follows a drop in global supply, partly due to extreme weather events — also to the increased costs of production thanks to inflation. according to the consumer group which?, popular easter eggs from manufacturers including mars, lindt and cadbury are up more than 50% on a year ago in the uk, with similar price rises reported in other countries. let's speak to an agricultural commodity analyst, kona haque. why such a spike in prices? these are record — why such a spike in prices? these are record high _ why such a spike in prices? these are record high prices _ why such a spike in prices? these are record high prices and - why such a spike in prices? these are record high prices and they i why such a spike in prices? tire are record high prices and they have quadrupled injust a couple of years. the simple reason is that
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there is just insufficient supply. the world's biggest producers of cocoa, the ivory coast, ghana and other west african countries, have just not had any incentive, there yield is not yielding enough and they are suffering huge amount of diseases, so we are seeing a shortfall in crops year after year and now we have a massive global deficit. ., ., , , . , ., deficit. commodity prices often fluctuate and _ deficit. commodity prices often fluctuate and go _ deficit. commodity prices often fluctuate and go up. _ deficit. commodity prices often fluctuate and go up. is - deficit. commodity prices often fluctuate and go up. is this i fluctuate and go up. is this dramatically different what we are seeing here? i dramatically different what we are seeing here?— seeing here? i have never seen an hint seeing here? i have never seen anything like — seeing here? i have never seen anything like this. _ seeing here? i have never seen anything like this. this - seeing here? i have never seen anything like this. this is i seeing here? i have never seen anything like this. this isjust i seeing here? i have never seen anything like this. this isjust a | anything like this. this isjust a skyrocketing price. i do not see any reason for it to not keep rising because there is no immediate supply—side relief to be found will stop demanding the western world is very strong for chocolate. yes, there has been an indication that there has been an indication that there might be some unwillingness to keep buying high expensive chocolate at these levels, so what we are
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seeing is... we are going to have to wait for prices to fall and that will only happen if we see supply—side relief, and unfortunately in africa there is just not enough investment happening in these cocoa trees to see the necessary relief.— necessary relief. you were mentioning _ necessary relief. you were mentioning that _ necessary relief. you were mentioning that the i necessary relief. you were | mentioning that the impact necessary relief. you were i mentioning that the impact we necessary relief. you were - mentioning that the impact we have already seen in terms of prices of chocolate bars up 50%, are you saying that despite that 50% jump already it could go even higher? i do think they will, yes. a lot of the chocolate manufacturers have already hedged their prices to lower cocoa prices, but once they start catching up to the current high levels those will have to start being passed on the consumer, and thatis being passed on the consumer, and that is when the margins are going to hit. �* , ., ., , , to hit. briefly and finally, it is not 'ust to hit. briefly and finally, it is notjust all— to hit. briefly and finally, it is not just all of _ to hit. briefly and finally, it is not just all of the _ to hit. briefly and finally, it is not just all of the reasons i to hit. briefly and finally, it is| not just all of the reasons that to hit. briefly and finally, it is i not just all of the reasons that you outlined, but we are also seeing, i read, shrink inflation. what do you mean by that?—
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mean by that? shrink inflation is a wa that mean by that? shrink inflation is a way that chocolate _ mean by that? shrink inflation is a way that chocolate manufacturers| way that chocolate manufacturers will try to get away with basically not having to pass on the cost of the high cocoa price. rather than putting a pure bar of chocolate cocoa, they will add lots of biscuits or caramel or nuts in it, so they are still providing a product but with less cocoa powder in it. or maybe a smaller size altogether. in it. or maybe a smaller size altogether-— in it. or maybe a smaller size altoaether. ., ,. ., ., altogether. fascinating given what we already seeing _ altogether. fascinating given what we already seeing in _ altogether. fascinating given what we already seeing in the _ altogether. fascinating given what we already seeing in the shops i altogether. fascinating given what| we already seeing in the shops and the cocoa prices spiking. i hadn't realised it was spiking quite as much as you said. thank you, kona haque. let me take you back to new york because we are seeing pictures there, we are still waiting for the first reaction after sam bankman—fried was jailed for 25 years after being found guilty of fraud and money laundering. more reaction from new york here on the programme in a moment or two. do not go away.
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to see south coast of england and across the channel islands, there could be some gusts of around 60—65 mph. a deep area of low pressure sending the showers and the rain spiralling around it. we are seeing particularly heavy downpours of rain across eastern areas of northern ireland, but here the rain should largely clear as we head through the rest of the afternoon, some showers arriving perhaps again by the time it gets to the end of the day. this rain will be pushing into central and eventually northern areas of scotland. 0therwise these thundery showers pushing. temperatures for most in double figures, but cooler across northern ireland and also eastern scotland, with quite a brisk
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easterly blowing here. now, as we head through this evening and overnight, a lot of showers around. watch out for some icy stretches as the skies clear across northern ireland. and there could be some longer spells of rain perhaps edging into north—western scotland as well. some clearer spells, too, across the midlands, into north wales and perhaps for northern england into tomorrow morning. now, tomorrow, a much simpler day of weather in that most of us will be seeing sunshine and showers. that rain will clear away from north—west scotland, the western isles as we head through the afternoon. and temperatures will be just that a little bit higher. just watch out for some thunder, some hail in some of those showers. it's still going to be quite blustery as well, with a brisk south—westerly wind blowing across england and wales. but the winds will lighten as we head through the easter weekend, as that low pressure pushes a little further westwards. and we'll be between low pressure systems. but there could possibly be some rain grazing the south—east of england, east anglia, as we head through saturday. certainly a bit more cloud here, but some sunshine elsewhere. the focus for any showers will tend to be in the north and the west. temperatures climbing, so widely in double figures, 12 to 15 celsius.
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the air will feel milder and the winds will be lighter. and it's the same again, really, as we head into easter sunday. so we're likely to see some showers perhaps across south—west england, up through western wales, northern ireland and maybe into northern england. but many parts of scotland could stay largely dry. dry, too, across east anglia and central southern england. bye— bye.
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this is bbc news. the headlines... we will bring you more reaction after... the former billionaire crypto boss sam bankman—fried has been sentenced to 25 years in prison for one of the biggest financial crimes in us history. 0ne one of europe's biggest water companies thames water is in crisis after share holders refuse to inject extra money. more than 200 workers arejoining the picket extra money. more than 200 workers are joining the picket lines for two days of strike action at an amazon site in the uk in birmingham. more on all of those stories because business news is next. i know you are searching with all that we have been seeing in the last hour or so. the big story in new york, and...

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