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Quest Means Business
School Shooting In Texas That Has Left 10 People Dead; A Major Plane Crash In Cuba; Preparations For Royal Wedding Underway; European Markets Close the Week Lower; Wall Street Ends Lower, Dow Flat; Campbell Soup Shares Plunged Almost 12 Percent Aired: 4-5p ET
Aired May 18, 2018 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:00]
RICHARD QUEST, CNN HOST: Good evening to you from Windsor, an extremely busy day, lots of events to bring to you. I am in Windsor obviously, ahead
of the Royal Wedding and we will have full coverage throughout the course of the hour, but there are big important events taking place in the world
that I need to bring to your attention.
For example, the school shooting in Texas that has left 10 people dead and a major plane crash in Cuba, which is where we are going to begin tonight.
The Boeing 737 has exploded in a fireball on takeoff in Cuba. According to state media, there were 104 passengers on board, three survivors, which was
miraculous when you look at the devastation and the survivors are not surprisingly are in critical condition in a hospital.
It was flight DMJ 972, a domestic service from Havana's Jose Marti Airport to the City of Holguin. CNN's Patrick Oppman is in Havana and joins me
now.
Probably too soon to say what happened or the cause, but the events, what do we know?
PATRICK OPPMAN: Well, Cuba's President has ordered an investigation. Miguel Diaz Canel was there at the scene today serving the damage. We know
that at about 12:08 just as this plane was taking off to fly, east down island to a popular tourist destination of Holguin where some of the
island's prettiest beaches are. This plane went into a wooded area just pas the terminal one of Joe Marti Airport.
Passengers in the airport, people on the scene, so huge ball of fire, smoke that continued for hours and rescuers say that up until this point, they
have rescued three people. It does not appear that there are any other survivors. We are waiting for an official death toll, Richard and more
details to come out.
Again, Cuba's President, Miguel Diaz Canel toured the site, said that there are a high number of fatalities in this very tragic airplane crash.
QUEST: Patrick Oppman in Havana. Patrick, when there are more details, if you do get more from the authorities, please do come back and let me know.
And now in Texas, 10 people killed at a Santa Fe High School, explosives have also been found at the school and surrounding areas. A male suspect
is in custody and it's believed to be a 17-year-old student.
A second person has been detained, a student has described the moments of confusion and panic when the attack happened.
(BEGIN VIDEO CLIP)
DAKOTA SHRADER, STUDENT, SANTA FE HIGH SCHOOL: We heard alarms, everybody just - you know, we started leaving, following the same procedure as we
did. Nobody thought it would be this. Nobody thought it was a shooting. Everybody just thought it was a normal procedure, a practice fire drill.
And the next thing we know, we just hear so many - three gunshots, odd explosions and all the teachers were then telling us to run, run, go.
(END VIDEO CLIP)
QUEST: How many times have we heard the story over the course of the year. CNN's Rosa Flores is in Santa Fe, Texas.
(START VIDEO TAPE)
UNIDENTIFIED MALE: We still have several more shots.
ROSA FLORES, CORRESPONDENT, CNN: Shots rang out just after 7:30 a.m.
UNIDENTIFIED MALE: He's actively shooting. He is in the art room. We've got shots fired right now, guys. We need you all up here.
FLORES: Police say a majority of the dead and wounded at Santa Fe High School in Texas are students. The alleged shooter, a 17-year-old
classmate, Dimitrios Pagourtzis.
UNIDENTIFIED MALE: He gave himself up. He admitted at the time that he didn't have the courage to commit the suicide, but he wanted to take his
own life earlier.
FLORES: Pipe bombs and pressure cookers have been found. A law enforcement official says, on the campus where some 1,400 students are
enrolled. Police believe the explosives may have been assembled in this nearby trailer, all part of what appears to be a deadly plan.
UNIDENTIFIED MALE: One was a CO2 device, another was a Molotov cocktail, and there are various other types of explosive devices that have been
identified both in a home as well as in a vehicle.
FLORES: An 18-year-old has been detained as a possible accomplice according to officials as the crime scene continues to be scoured here in
Texas, new details are emerging.
UNIDENTIFIED MALE: The weapons used in this attack - there are two weapons, one was a shotgun, and the other is a .38 revolver.
FLORES: Earlier, parents raced to the scene as their children called from inside, still unclear about what was unfolding.
UNIDENTIFIED FEMALE: I just kept telling her to listen to her teacher, be quiet, stay down. Stay on the phone with me. It is scary, really, really
scary.
FLORES: Laurie William's son is a junior safe now after telling her just how close he was to the killer.
LAURIE WILLIAMS, PARENT: He was in the classroom where the shooter was according to him. There were three students down in the classroom and when
they were coming out, there are were two more students down right outside the backdoor of the school.
FLORES: Today's shooting comes just three months after the massacre in Parkland, Florida that spurred international demonstrations. Santa Fe
students participated in the school walkout just last month. Today--
[16:05:16]
FLORES: -- their school is the crime scene.
UNIDENTIFIED FEMALE: This is a place where we're supposed to feel safe, this is where we come most of the week. Nobody should have to go through
this and nobody should feel that pain.
(END VIDEO CLIP)
QUEST: So, there we have the two major stories that we are following, too, and we will continue to follow throughout the course of the hour. And now,
having dealt with the serious news of the day, let's turn our attention to "Quest Means Business" and the big event of today.
All right, I am sure there was some business news somewhere in the world, and I am sure that there are markets that have traded, but frankly, nothing
of terribly great importance that urges us to get rid of what we're talking about.
But, aha, Windsor Castle, we are here. It's on the outside with berries. Windsor Castle - as we get ready for the Royal Wedding which will take
place. The ceremonies and their guests will start arriving 12 hours from now, and things have definitely kicked up a notch or three.
Prince Harry and Price William did the rounds a few short whilst ago. The streets were packed with well-wishers and it is a momentous moment for both
Harry and the Royal Family, itself - they spent ages talking to people, while Prince Harry stole the show, this weekend may be about Meghan Markle
claiming her moment in history.
She says she feels part of the family and the institution, now walking into Royal History, and we will walk unescorted down most of the aisle,
accompanied by bride's maids and page boys.
Prince Charles will join her in the quire. You can see, she walks through the nave on her own. She gets to the quire and where she is joined by
Prince Charles and he then walks her to the foot of the altar. Ms. Markle effectively gives herself away.
Nick Watt is up on Capitol Hill and joins me now with the events.
NICK WATT, CNN CORRESPONDENT: Richard, as you say, she will walk herself down most of the aisle, just with the bride's maids and pages and Prince
Charles really kind of symbolically welcoming her to the family, this House of Windsor is all about symbols.
He will walk her most of the way up to the altar and then she will walk those final few steps up to Harry, and you know, we've all been talking
over the past few months about what kind of Royal Meghan Markle will be? Will she kind of blend in a bit like Kate? Will she tow the line or -
she'd been an activist since was 11 years old, is she going to continue that?
I think this - the fact that she is going to walk herself, she is going to break Royal precedent, no other royal bride has ever done this. I think
this might give us a hint as to what kind of royal Meghan Markle might be, Richard.
QUEST: And if you take that as an example, what's the mood out there like tonight?
WATT: Festive, I mean, we just saw you know, Harry and William walking around. Harry doing frankly what Harry does best, you know, charming
little children, glad handing old ladies, and being a normal affable guy. He was doing that.
The only complaints I heard, some people said, "Listen, we would actually have really liked to see Meghan Markle's mum walking her up the aisle, but
we now know that ain't happening, Richard.
QUEST: It isn't happening and we'll talk more about it. Meghan Markle is a fresh face in the Royal Family.
The polls are showing that the Royal Family is boosting UK's reputation. On the leader board, as always, the Queen is at the top, but Prince Harry
is also there, 22% as most popular according to a global survey followed by the Duke and Duchess of Cambridge, that's William and Kate to the rest of
us.
Joining us now, Kate Williams, the historian and lecturer at the University of London, and Angela Levin, author of "Harry: Conversations with the
Prince." So, let's start, Angela, were you surprised with Prince Charles?
ANGELA LEVIN, AUTHOR: I was a bit. I thought it would be her mother. I thought it would be a show of mother and daughter's strong relationship and
I thought it would also be, it's women doing it themselves and breaking protocol since Queen Victoria.
I was surprised, then when I heard it was, I thought it was a marvelous gesture of him because he is showing that he is accepting her into the
family. And then she decided to walk halfway and half with him.
QUEST: Is it symbolic do you think? I mean, it wasn't symbolic two days ago, or last week. Now, all of a sudden, she is walking herself.
KATE WILLIAMS, HISTORIAN, UNIVERSITY OF LONDON: It is symbolic, I think. I think it's really very meaningful and yes, had Thomas Markle not had to
have this emergency heart surgery and thrust all of it into uncertainty, we would have expected to see him walking her down the aisle, that was the
plan.
But of course, he is not here. Things have changed and there has been all of these uncertainty. But I do think the fact that she is doing it half of
it on her own, accompanied by 10 bride's maids and page boys, all under the age of seven, so nothing could go wrong, and then giving herself away--
[16:10:16]
WILLIAMS: -- really does suggest, this is a bit of an outdated concept, having your father give you away, when you're an independent woman.
QUEST: I am choosing my words carefully here, ladies, and also, it's a bit melodramatic, don't you think? It's a bit of - I mean, the woman is an
actress, and she has now managed to construct a denouement to her - up to the altar.
LEVIN: Yes, I don't think it's sort of an active giving yourself away whether your father does it or whether you do it. You just join someone.
I think the giving away still is harking back to the time when you expect your husband to support you. You expect him to be in the lead, but I just
think, you can go down there whichever way you want to, and say, "Here I am."
QUEST: I am more interested in the mother, meeting the Queen for tea today?
WILLIAMS: Yes, the mother met the Queen for tea today. We had - it was a very successful meeting. Harry and Meghan were also there. We believe
that the ultimate seal of approval was that the Queen was seen leaving Windsor with Meghan's beloved dog. So, clearly, we know that the corgis
love Meghan, so the fact that the Queen has now sort of adopted Meghan's dog as a chum, well, there's nothing more that can be gained. She appears
to be the Queen's favorite.
And there they are walking in the Clifton House. The first house of Nancy Astor, the first woman in Parliament, that's a beautiful hotel and--
QUEST: It's expensive. It is very expensive.
LEVIN: Well, money is no object on this wedding, is it, really? We expect an expensive wedding dress, we expect everything will be done in great
style and with no expense (inaudible)--
(CROSSTALK)
QUEST: How important it is - are we overstating, Angela, to you first, are you - are we overstating the importance of Meghan Markle to the Royal
Family?
LEVIN: I don't think we are, actually. I think it's extraordinary where she has come from, you know, quite a humble home, quite dysfunctional - she
is not at all what you would imagine the Royal consort would be, and yet, she has climbed her own way up. She is very self-made. She is not an
aristocrat who would just do a bit of work on a glossy magazine.
She is really worked hard to get known, and I think it is extraordinary. I think the length of time they have known each other is very short,
extraordinary as well, and that she is very powerful and she wants to speak her own way and do what she wants.
QUEST: How will she supposed to get on, not just with the Royal Family, but with the bunch of friends - arguably, someone said, entitled - both
titled and entitled people with whom the circles that they mix. She has - she is a working woman who has worked her way up into a very hard career.
WILLIAMS: She is a working woman. She is self-made. We believe she has made herself something in the vicinity of $10 million, which is incredible,
and yes, once upon a time, Prince Harry and Prince William were surrounded by a party group of young men and young women, who didn't really do much.
(CROSSTALK)
QUEST: The Honorable this and the Honorable that--
WILLIAMS: They are all going to discos in London, I mean, that was the bit, and a lot of them have changed and grown up. They initially - they
did not accept Kate. They didn't like her. They called her "doors to manual" refers to the fact--
(CROSSTALK)
WILLIAMS: -- and to refer to the fact that her mother was an air steward, but it's a perfectly respectable job. They said that they called her
"doors to manual" but they got over their snobbery and I think it's time to realize that the middle classes which I am one, and the people who work for
a living, it is time that the Royal Family incorporates them, and so, we think about who could George marry - I think another working woman.
LEVIN: I think if you look at Charles and Diana, it was like - the Royal Family was searching far and wide to find someone suitable that he would
marry and she had to be aristocratic. She had to be a virgin. She had to come from a good family, that hasn't been central here. That hasn't
happened here.
I think it is extraordinary that both men have chosen a woman they wanted. They were middle class and suit.
QUEST: All right, let's talk about the Queen and what is making of all of these. I mean, a woman who was founded on the abdication or the searing
memory of that, all of the scandals from sewers to Margaret to toe sucking to Diana, to Phillip and all the various things. Nothing fazes the Queen.
LEVIN: I think it does deep down, but she doesn't show it. She is a stiff upper lip generation, and whatever happens, beauty comes first, and so she
couldn't swallow all of that.
I think she's got softer, particularly since Prince Phillip, her husband has taken a step back because he is the one who likes absolute detail and
she's got a bit softer and since her own mother died, she would never have worn these bright colors, so I have been told that she has been wearing
lately.
If her mother was around, she wouldn't have thought it was suitable. I think she's got more relaxed about things.
QUEST: So, finally, what should I be watching out for tomorrow? Bearing in mind that I am not going to get terribly excited by the dress.
WILLIAMS: Okay, well I--
QUEST: So, what moment?
LEVIN: What moment?
QUEST: What moment?
[16:15:16]
WILLIAMS: I think the big moment is when we see all of the Royal Family in the chapel, the Queen and of course, so many of her relatives are buried
there - her mother and father and we see the moment when Harry sees Meghan for the first time. He hasn't seen the dress, many of the people have, and
we will see I think the love between them then.
LEVIN: I think though, it's obviously the dress. A lot of men when they look around, they see their bride, they can't believe how beautiful they
look, and they are glowing, they are looking at their absolute and they are incredibly happy. There is emotion in the air, and I think we will see
something--
QUEST: You're both basically politely telling me that I am a miserable poor thing.
(CROSSTALK)
WILLIAMS: My favorite tweet - my favorite tweet is someone saying, "Prince Harry's engagement to Meghan Markle gave black women hope," and from one of
the retweets, it is saying, "His engagement to a beautiful woman gave ginger men hope." And as a ginger woman, I can say that, but I think every
ginger man across the world, and ginger women, we can have a beautiful person, too.
QUEST: Wonderful to have you with us tonight.
LEVIN: Thank you.
WILLIAMS: Thank you very much.
QUEST: As we continue tonight here on "Quest Means Business," there is so much more Royal interest, Royal intrigue, Royal stories. It is "Quest
Means Business" and we are in business in Windsor. Yes, that really is the castle and it's in there.
Oh, now look at that. Windsor Castle with a plane heading in to London, Heathrow. It doesn't get much better than that, and the river, a beautiful
evening, and I can tell you tonight, it's going to be a beautiful day tomorrow. The weather is going to be picture perfect for the nuptials of
Harry and Meghan who are signaling their shared values to the charities that they have asked people to donate.
Instead of wedding gifts, they want people to give money. The couple has chosen seven charities: Children's HIV Association, a homeless charity
called Crisis, StreetGames which is a sports charity, Surfers Against Sewege - a wilderness foundation, The Foundation for Women in Mumbai and
Scottys Little Soldiers for the bereaved Armed Forces' children.
Jane Ashworth is the Chief Executive of StreetGames and joins us. Now, good to see you, thank you for coming in and joining us. What do you know?
Why were you chosen?
JANE ASHWORTH, CHIEF EXECUTIVE, STREETGAMES: I think we were chosen because on three occasions, Harry and Meghan have visited a StreetGames
project. They have loved it. The children have loved them, and I think we all agree that the more children who can be happy and active, the better
society it is, really.
QUEST: So, tell me, I know you're not allowed to tell me how much you're getting in, but can you tell me, are you getting money? Have you noticed -
I mean, if you look at your income. Does it sort of--
[16:20:16]
QUEST: -- has it suddenly gone up the graph?
ASHWORTH: It's gone up the graph and social media presence has gone up the graph. We are seeing - so we won't be saying exactly how much investment
has come our way, but obviously, we're very grateful we've got it because for a charity like ours, 500 pounds investment will make a difference to a
project. It can run one night a week on 5000 pounds a year.
QUEST: Wow. So, what is it you do?
ASHWORTH: We recruit for organizations that is all around the UK, they come together under the name StreetGames to organize sports and activities
because we want every kid to be able to get off the couch, put the screens down, go half a mile down the road and find a fantastic good fun sports
with all their mates.
QUEST: But what I find interesting because if you look at the range of charities, one can often see the obviousness of an HIV charity or a women's
crisis center in Mumbai or whatever, if you see the list of charities and you can see - one might be tempted to say that sports and recreation is an
interesting choice in that sense because it gives them a more wholesome, a more rounded approach to life.
ASHWORTH: Well, I think that's right. I think generally, you know, I think most people do accept that if you're a youngster and if you've got a
chance to tuck in with a really good community sports project, around the corner from your house, your life is better.
QUEST: And because of that, you're seeing real tangible benefits as a result.
ASHWORTH: Oh, a lot of - if you will see that when a youngster that is tucked in with our projects for a while, and they have done all kinds of
interesting and exciting things, their personal development increases, and you can measure that in all kinds of ways, but it does.
QUEST: So, were you surprised? Come on, I mean, at the end of the day, when you get the call and said - because you've got a fairly well healed
group of people over there. Most of the guests are not short of the price of a cup of tea.
ASHWORTH: That's very true.
QUEST: And if they have been told make a donation to one of these charities, it's a fair bet they are going to do samples. It's a fair bet
they'll do samples, so your quid is in here, rightly so.
ASHWORTH: Thank you. Were we surprised? We were surprised. We were delighted. And we know that it will make some considerable difference to
the amount of work that we can do with the thousand projects in the communities that need it the most and that's a lot of youngsters, you know,
that's a lot of young people.
QUEST: Good to see you.
ASHWORTH: Thanks very much.
QUEST: Thank you very much so much for coming. Thanks so much indeed. Now, with her background and her personal passions, Meghan Markle has
developed a connection with the British public in a way that few members of the Royal Family have been able to replicate. CNN's Jason Caroll looks at
that side of our Royal coverage tonight.
(START VIDEO TAPE)
JASON CARROLL, CNN CORRESPONDENT: Brixton, it's a district of South London where you will find black, Asian and white cultures all in one
neighborhood. It's a place Meghan Markle and Prince Harry have visited before.
Markle is celebrated here like in much of Great Britain and because she is biracial, her marriage to Prince Harry has also inspired discussion about
race relations.
Raise your hand, does everyone know who Meghan Markle is?
UNIDENTIFIED FEMALE: Yes.
CARROLL: These elementary school girls in Brixton are well aware this is a first for the Royals.
UNIDENTIFIED FEMALE: It's a fact and in fact, she's one of the first black like people to go in the Royal family.
CARROLL: Does any of you ever think that you could grow up and perhaps marry into a Royal family? Was that something that any of you even
absolutely thought of?
UNIDENTIFIED FEMALE: No.
CARROLL: Why not?
UNIDENTIFIED FEMALE: And not many like me, black people can join like the Royal family.
CARROLL: Do you think it's a good thing?
UNIDENTIFIED FEMALE: Yes.
CARROLL: Why is that?
UNIDENTIFIED FEMALE: Because it just shows you that anyone can marry into the Royal family.
CARROLL: A recent study found a little more than half of those polled in the UK say, race should matter in the Royal marriage, 75% say they would
feel comfortable if their children married someone of a different race, but a government study also found a 27% increase in hate crimes in the past two
years.
Steadman Scott has lived in Brixton for some 50 years.
STEADMAN SCOTT: There is a problem in this country, and that is color problem. That is a problem of we are focused.
CARROLL: There have been a number of negative public comments and headlines made about the Markle family and their background. Take this one
in the "Daily Mail," it reads, "Harry's girl is almost straight out of Compton." And then there was the comment made by the sister of the UK's
Foreign Secretary, it reads, "Ms. Markle's mother is a dreadlocked African- American lady from the wrong side of the tracks."
At one point, Prince Harry's stepped in to defend Markle and her family in a statement his Communications Secretary cited the racial undertones of
comment pieces and the out--
[16:25:16]
CARROLL: -- right sexism and racism of social media trolls and web article comments. Sunder Katwala conducted that recent study on race in the UK.
What did you make of some of the horrific things that the British press were writing about Meghan Markle.
SUNDER KATWALA, BRITISH POLITICAL ACTIVIST: Well, this isn't so (inaudible) in British society, but it was received quite a lot especially
across the generations.
CARROLL: And though these girls never expected to see a mixed race bride in the Royal family, they see their marriage as a sign of hope.
UNIDENTIFIED FEMALE: I think it will make a difference like me because some people like being racist are the people because of their color, and
because Meghan Markle is joining the Royal family, I think it might make them change their minds.
CARROLL: Jason Carroll, CNN, Brixton, London.
QUEST: Wherever you look, the city - the town of Windsor is buzzing with excitement. There are still some places available, and in a moment, we
will show you what it costs if you want to stay there. It is expensive. All the participants are now here. The wedding goes ahead and as you can
see - just look at that, you could not buy that as a postcard. Well, it could be, but you know what I mean.
The reports say three people are in critical condition having survived the plane crash in Cuba. The Cubana jet went down on takeoff from Havana's
International Airport with 104 on-board. Cuban President was at the scene in a nearby agricultural area.
A 17-year-old student is in custody on murder charges after police say he killed nine students and a teacher at a high school in Texas. Ten other
people were wounded. The source says, an 18-year-old is also in custody and believed to be a possible accomplice.
Mr. Trump expressed his dismay at this latest school shooting.
(BEGIN VIDEO CLIP)
[16:30:16] DONALD TRUMP, PRESIDENT OF THE UNITED STATES: This has been going on -- this has been going on too long in our country. Too many
years, too many decades now. We grieve for the terrible loss of lives and send our support and love to everyone affected by this absolutely horrific
attack.
(END VIDEO CLIP)
QUEST: The World Health Organization says the Ebola outbreak in the Democratic Republic of Congo is not yet an international emergency. The
organization raised a health risk to very high prior to the announcement.
Vaccinations are expected to begin as soon as Sunday. The former Russian spy Sergei Skripal who was poisoned with a nerve agent in Salisbury,
England, back in March has now been discharged from hospital. His daughter Yulia who was also severely ill in the same incident was released last
month.
Prince Harry greeted fans in Windsor as he and his brother William went on a traditional walkabout on the eve of the royal wedding. His wedding will
take place in St. George's Chapel on Saturday and will be broadcasted and watched by millions of people around the world.
If you've watched and felt compelled to travel to Windsor and see the wedding, there are still few Airbnbs left. So this one is a double room
with a balcony, it overlooks the procession and it will cost you $278 for the Saturday night, that's a bit of a bargain.
The room boasts of a double bed and as you can see a large mirror. Plenty of storage for your royal memorabilia. And speaking of which Windsor has
officially gone nuts for this wedding. Cnn's Anna Stewart who knows a souvenir or two when she sees one has been having a nosy.
(BEGIN VIDEOTAPE)
UNIDENTIFIED MALE: Yes, you got G-banners!
ANNA STEWART, CNN (voice-over): With the royal wedding comes pump tradition and a lot of souvenirs. Windsor's shops are all decked out in
red, white and blue. This is the traditional array of Max the Magnet and it doesn't stop there.
Hats, gloves(ph), flags, even life-size carbon cut-out for Prince Harry and Meghan and slightly terrifying masks. One shoe shop has a whole royal
range complete with Markle-sparkle shoes. It's given the town something to shout about.
UNIDENTIFIED MALE: Oyez!
UNIDENTIFIED MALE: This really mind-blowing feast, they really are. But the shortest sleep we had, we sold 300.
STEWART: British retailer Mark & Spencer has actually re-branded for the weekend.
UNIDENTIFIED FEMALE: I love the match, I love the match. What I'm trying -- what I'm trying to --
UNIDENTIFIED MALE: You know, these are the sort of things that people will be showing to their grandchildren and tell their grandchildren, I was at
the royal wedding when Harry married the American girl.
STEWART (on camera): Saw iPhone 10. Top Trumps has released a royal wedding version of the game and it's a little controversial. Meghan Markle
is the Top Trump.
UNIDENTIFIED MALE: Meghan Trump is the Top Trump, she wins the three things, I think the one everyone is talking about is style. Kate had her
seven years at the top, she's just been the match away from a ten bounce or nine, Meghan Trump's with a ten.
STEWART: Everyone has started selling their own version of the royal wedding cake and it's a little over the top. But there's a new coffee in
town. It's a bit of a mouthful, it's called the Meg-harryccino(ph), but it's delicious. Anna Stewart, Cnn, Windsor.
(END VIDEOTAPE)
QUEST: Samuel Burke joins me now and will do valiant battle to try and compete against the party votes, going up and down the River Thames.
SAMUEL BURKE, CNN BUSINESS & TECHNOLOGY NEWS CORRESPONDENT: It's amazing, this town only has 32,000 people in population and we're expecting 100,000
people here. I've met someone as far as Australia, they came for the wedding and on the other side of the world, all the way from Seattle made
the flight over here.
You always say hope whatever you're up to, it's profitable and by God, the British are taking advantage of all of the crops that they're selling --
QUEST: Right --
BURKE: On QUEST MEANS BUSINESS.
QUEST: Excellent, so lots of them. How big is this industry?
BURKE: It's absolutely huge, though I've been speaking to economists who say they don't think that it's enough to -- oh, God. The first rule I was
thought by former Cnn anchor Aaron Brown was never wear a foolish hat on television.
You've managed to taint my career within just a few minutes, OK --
QUEST: Be careful with microphone, but go on, tuck it in properly.
BURKE: Yes, the economists that I've spoken with had told me that it may not offset the $8 million that the taxpayers here in the U.K. have to pay
for all of the security for it tomorrow -- oh, God, but Richard -- yes, I was going to say the one thing all these memorabilia have --
[16:35:00] QUEST: Oh, of course, Samuel --
BURKE: Done is I finally have a chance to ring my own bell, I don't need Richard Quest bell anymore. Burke means business, people!
QUEST: Put it back on again.
BURKE: Until the show actually says Burke means business, I have to listen to you --
QUEST: Right, thank you, this is -- it's perfect. Now, Samuel, trying to --
BURKE: It fell off --
QUEST: We should prepare that later. Finally, and obviously the economy is one side of this, and it's grown and they'll be able to benefit as a
result. But ultimately, this is really not just about tomorrow, it's about showcasing Britain for tourism for the future.
BURKE: And nobody does it better than the royal family, and that's why you guys, the British people are willing to go along with this whole thing
because the British think --
QUEST: Go along with it!
BURKE: Well --
QUEST: Go along with it! It's not an American soap opera.
BURKE: I am American -- he already has a bell. At the end of the day, you're right, this is what attracts people and I spoke to so many people
say I'm doing what my mom did. She came from the states when Diana married Charles and it is this fascination with the royal family that is at the
center of the U.K. tourism, and that is why you guys go along with it.
(BELL RINGING)
QUEST: After the break, thanks to virtual reality, Cnn will take you into St. George's Chapel where the vows will take place in this week's royal
wedding.
(COMMERCIAL BREAK)
QUEST: We've been talking about the ceremony and the royal family. Now, let's talk about the venue that the wedding will take place. It is in
Windsor Castle, but it's in the lower ward of the Windsor Castle where you find St. George's Chapel.
From the Cnn, now we're going to take you right inside and give you an insider's look.
(BEGIN VIDEO CLIP)
TOM FOREMAN, CNN: Windsor Castle about 20 miles or 32 kilometers from London is the place the queen calls home and where Prince Harry spent a lot
of his childhood as well. But few homes can boast anything like St. George's Chapel where the vows will take place.
There, Meghan Markle will go right at these stairs to go inside and what a sight will greet her and all the other guests. This is a facility that can
hold 800 people, about 600 will be involved.
Back on that little doorway is the nave where the bride will begin her historic walk of the aisle, breaking with tradition and making a strong
feminist statement by being unescorted. Then when she reaches that little doorway, tucked by the symbols of the royal family, there, Prince Charles
will step up to escort her into this area called the choir(ph).
And what a spectacular place this is. Above the guests, you will see the banners and the symbols for the Knights of Garter, this is one of the most
prestigious groups you can possibly belong to in this country.
[16:40:00] Every member is chosen by the sovereign and it's patterned after the knights of the round table. Harry himself will probably join the group
very soon. Now, long ago, the queen would have sat in that box presiding over everything as the head of the church of England.
Queen Victoria sat there, so did Catherine of Aragon, but now the entire royal family will be seated down here on the floor in order of succession
on the right side of the church. There will also be some foreign dignitaries over on this side.
And over there on the bright side as you might expect, Meghan Markle's family will be gathered and in all likelihood some members of the family of
the late Princess Diana.
Upfront will be the presiders, the Archbishop of Canterbury, Justin Welby and the Right Reverend David Conner; the dean of Windsor and of course the
couple. And they will be surrounded by such history, more than 50 notable persons are buried in this chapel including many members of the royal
family.
King Henry VIII is buried here alongside his third wife Jane Seymour, so is Princess Margaret and the queen's parents. About a dozen royal weddings
have taken place here over the many years including the blessings of Prince Charles and Camilla Parker Bowles.
Now it's going to be closed for the wedding itself, but most days, you can see it if you want for the price of a $29 ticket, which will let you go to
the castle as well or about 21 pounds, so a lot less than a wedding gift.
(END VIDEO CLIP)
QUEST: An exceptional value to see -- by the way, of course, Windsor Castle is the largest and oldest, continuously lived-in castle in the world
at the moment. Yes, I promise you, it's true.
Unfortunately, the British stock market couldn't hold on to record highs for the big day. European markets all closed lower as tensions on trade
between China and the U.S. continue to weigh in on investors.
Joining me now, Mohamed El-Erian; the chief economic adviser at Allianz, he joins me from Irvine, California. I think this is a good moment, Larry,
first, to reflect on the strengths. And I know it's been marginally positive about this if we may.
The strengths of the British economy because we hear so much negative reports about Brexit that actually won't forget, it is still one of the
largest economies in the world.
MOHAMED EL-ERIAN, CHIEF ECONOMIC ADVISER, ALLIANZ: It is and it has a lot of positive attributes, but just like you showed us a beautiful St.
George's Chapel, thank you.
In today's global economy, you want to be a strong house in a good neighborhood, just like St. George's Chapel is, Windsor is absolutely
beautiful and I hope you enjoy your time there.
The problem is that the global economy today is an uncertain neighborhood, and therefore you really need to be a strong house and the U.K. is facing
question marks about Brexit in addition to question marks about the global economy related to trade and technology and volatility.
So it's -- this is a good time for Britain short-term, but there are challenges that need to be dealt with.
QUEST: How serious would it be for Britain to have a hard Brexit and crush out of the EU. We have guest after guest on this program that say it will
be cataclysmic, do you buy that?
EL-ERIAN: No, I don't buy the cataclysmic argument, I do buy that there will be a period of adjustment, and the question becomes both for the U.K.
and for the EU, where they can emerge from this stronger.
So the good news about a shock, and you know this because you've seen quite a few economic shocks in U.K. where look at the global economy is that it
assess a catalyst to deal with things that they haven't dealt with for a long time.
And in the U.K., you've got to deal with low productivity.
QUEST: Right. You have talked on many occasions on this program, thankfully, about this need for structural reform, that really the full
benefits of growth won't come about. Are you seeing any signs that countries are prepared to do the hard work, the sorts of work in many ways
that the U.K. did in the 1980s.
Controversially, I agree, but Margaret Thatcher did restructure in the economy. Do you see any sign that people are doing, what Christine Lagarde
refers to as mending the roof whiles the sun shines.
EL-ERIAN: So if you think of the three phases, understanding the issue, designing the solution and implementing, we've made progress on the first
two, that's necessary, but not sufficient.
[16:45:00] I think there's now an understanding after such low and non- inclusive growth that we really need structural reforms. We really need to develop a new growth model. There's also a design of what you need.
So this is not a great engineering puzzle, Richard, and that's good news. The problem is political implementation, and we're not seeing as yet the
political runway that allows for implementing the structural reforms.
So the good news is at least we're aware of it, we have a good set of policies that can be implemented, we just need a political runway.
QUEST: I think you'll agree though every economy needs a good dose of optimism and at least per how the royal wedding is going to give the U.K.
even if it's artificially a sugar high, it is going to make people feel a little bit better.
And would you suggest gold as a suitable present for the royals? I mean, gold has always put value.
EL-ERIAN: So first, a few good factor is important and it's also going to be a boost, a short-term boost in demand, tourism, goods and services,
that's good news. And we're going to feel it, I'm getting up at 1:00 a.m. tomorrow morning, California time to watch you at the wedding on my Cnn
station, so thank you for that.
Look, if you want to offer them gold, that's good. I would offer them something else. I would offer them an ability for their kids to be able to
adapt quickly to an economy that's changing really fast.
The ability to embrace all this new technology and big data and artificial intelligence and apply it in a way that's positive for the country. That's
what I think would be the best gift for the royal family.
QUEST: Perfect, Mohamed El-Erian, you would offer them an investment while I just give them an old -- a bit of old gold. Excellent idea, good idea,
thank you, Mohamed, I look forward to seeing you tomorrow morning, I am sure you'll see us when you get up in the middle of the night.
As we continue on QUEST MEANS BUSINESS, Wall Street ended mostly low, the Dow was flat, where we just spent too much time talking about it. The
market wasn't terribly exciting, well, in fact, I've rarely seen it, less exciting, it was unchanged, I didn't realize it was quite as pathetic
unchanged as that.
Campbell Soup shares were down almost 12 percent, that's huge. The CEO Denise Morrison suddenly retired. She's one of the few S&P 500 female
CEOs. As we continue tonight any moment, would you know what I'm talking about if I said plenty of punters are having a flatter on the queen's
titfer.
So if you know what I mean, a flatter on the queen's titfer when we come back.
(COMMERCIAL BREAK)
[16:50:00] QUEST: Prince Cam(ph) was just a flatter and they are finding plenty of light-parted details to have a bet on the man with the board that
joins me from -- is Alex Azoti from -- come on, good to see you, sir.
ALEX AZOTI, PUNTER: Good evening --
QUEST: So, what are people betting on?
AZOTI: Well, as you can see, the queen's hat is one of the most popular bets at the moment. We opened that betting earlier this week back on
Monday, and we saw a flurry of bets -- I don't know what's the terminology you like, I've been in America, you understand this? We --
QUEST: Go ahead --
AZOTI: We sort of flurry at bets from punters back in green, and it was a three to one shot, which means --
QUEST: Now, it's even-even.
AZOTI: Of course, for every pound back on Monday, you would have got three pounds back with your stake. We're thinking not many bets though, we had
to slash that to even money.
So either someone knows something or it's just pure coincidence.
QUEST: And anyway, the idea is to -- on orange, that's a 16 to 1 favorites -- oh, no, 16 to 1 odds.
AZOTI: Yes, that will be the rank outside of the yellow is a 5 to 1 shot, I will disagree with those, so I think personally, I think he wore yellow
for the previous role wedding with Will and Kate.
QUEST: So she's not going to wear it again.
AZOTI: Not going to wear it again --
QUEST: All right, so just designer Ralph and Russo comes in at 1 to 5 odds on favorites, so that's -- so the market or the punters are clearly saying
that they believe it, saying it's Ralph and Russo.
AZOTI: Yes, as far as we're concerned, it's a sure way, and as soon as we open the bet in Ralph and Russo, six months ago, even was a huge favorite
and it's looked that way.
QUEST: Why do we do this? Why do we do it? I mean, obviously you don't mind my many stupid questions, Richard, but I mean, why do people want to
bet on for example, the year, Harry and Meghan's first child which incidentally is 4 to 9 odds on, I think it will be next year.
But why do we do it?
AZOTI: I think it's just everyone wants to feel as sense of involvement. You look around Windsor today, how heavily involved everyone is when it
comes to the royal family. The royal baby for example last month, that certainly became the U.K.'s baby.
QUEST: Right --
AZOTI: And I know there was so much interest in what the name is going to be, what the gender is going to be? And it's the same with royal wedding,
everyone just wants a sense of involvement, and if there's a pound to be made as well, and of course we're thinking it.
QUEST: Right, and as we -- if I was to ask for odds for the purple hat with Christopher Bailey and baby in 2021, and Sir Elton John won't sing at
the wedding, would you give me odds on that?
AZOTI: Quick might see my head on, I'm playing around about 500 to 1, I think that's an unlikely shot, let's be honest.
QUEST: Do it --
AZOTI: You want a bet, you want my kind --
QUEST: No --
AZOTI: Of bet --
QUEST: It's good to see you anyway, thank you very much indeed --
AZOTI: Thank you, God bless.
QUEST: Now, it wouldn't be a royal wedding without an official coin. The Royal Mint machinery has been running on overtime I'm thinking about.
We're free to have a look and see exactly what those coins look like.
(BEGIN VIDEOTAPE)
UNIDENTIFIED FEMALE: Royal Mint, we're a limited company and Jessopp(ph) owns this, so they don't own all our shares. We make profit every year, we
give the dividends back to our shareholders, so we all run on a normal business economics.
The queen have to approve every commemorative coin that we actually make, and we're making 16 pounds in silver and only a pound in gold, so very
rare.
KELLY CLARK, COIN DESIGNER, ROYAL MINT: My name is Kelly Clark and I'm a coin designer for Royal Mint. I wanted to try and convert the lower Rolex
look to the cobalt(ph). I did think, should I put the silver along the (INAUDIBLE), I think it became money and he seems to wear it now and I
think it suits him.
UNIDENTIFIED FEMALE: Maybe the projections is about the name, how we pose them, the names and also the dates on the inscription.
UNIDENTIFIED MALE: From 1935 onwards, you get the modern tradition of marking royal events on royal occasions with special commemorative designs.
So what we have on this tray are pennies from the Anglo-Saxons period.
And more importantly, we've got coins of the great, dates, the famine of the Romans to round about 1806.
UNIDENIFIED MALE: What happens is you have a central mint in London and you have lots of little mints scattered around the country. That strong
central royal control give a huge advantage to kings of England.
You've got a good financial base, gives you a good base from which you can consolidate your rule over a country. When we were -- at the height of the
empire in the late 19th century, the British currency was a colonial currency.
So the coins of Britain were circulated around the globe, and even the second World War, we actually moved a (INAUDIBLE) mint to Pinewood Studios
just in case in Winter London got bombed.
The crown still in charge, sort of de facto anyway. All coins are made legal tender by which you mean you're sending a lump of metal into an
actual coin heading by royal proclamation.
So you still have that direct link with the royal family, with the monarch itself.
(END VIDEOTAPE)
[16:55:00] QUEST: And we cordially invite you to be part of our special coverage of the big day tomorrow, we'll have the I dos, we'll have the
dress, we'll have the analysis and we have it all covered right here on Cnn.
It begins in less than 12 hours from now. We will have our profitable moment after the break.
(COMMERCIAL BREAK)
QUEST: Tonight's profitable moment from royal Windsor, everybody is getting in on the act right the way down to the geese that are whatever
geese go, quacking on the river at the moment.
Some geese and swans by the way, don't let us get too confused between the two, but they are on the river tonight. And what everybody is saying is
that this is a moment in time, moment of change, kind of a revolution by any means.
The royal family isn't going for that sort of thing, but an evolution. And it's one that is coming about naturally as Prince Harry shows a woman who
would not have been the sort that would have married into the royal family in the past, not only from a diverse background, but also a foreigner and
an American like that.
A woman who has had a working career and made a sizable amount of money in her own right. How the royals -- you see, we are all talking about how
Meghan Markle will adapt to the royal family, but ultimately she will fit in.
It's how the royals will learn from what Meghan Markle brings. And the one thing I can tell you, having covered the royals for many years is that
they're very good at sporting the way the wind is blowing, and they may arrive at the party late, but once they get there, they do it right.
Meghan Markle will have an effect on the royal family and we shall watch to find out what that is. Join me tomorrow right here of course because that
is QUEST MEANS BUSINESS for tonight, I am Richard Quest in Windsor.
Whatever you're up to in the hours ahead, I hope it's profitable. See you tomorrow.
END
