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Quest Means Business
Former Prince Andrew Under Investigation After Arrest; King Charles expresses deepest concern after arrest of former Prince Andrew; Australian Unemployment Remains Low as Inflation Persists; Trump's Foreign Policy Changes Force Australia to Adapt; Former Prince Andrew Arrested on Suspicion of Misconduct in Public Office; Australian Law Pioneers Age Restrictions on Social Media; History of Sydney Opera House. Aired 4-5p ET
Aired February 19, 2026 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:21]
RICHARD QUEST, CNN INTERNATIONAL HOST, "QUEST MEANS BUSINESS": Closing bell ringing on Wall Street. The market's trading coming to an end of a long
week one way and another, but we got there and as you can see the closing numbers, which is more than I can see just at the moment.
Those are the markets and these are the main events that we are talking about today.
Prince Andrew has been released from police custody hours after his arrest for suspected misconduct. Andrew's arrest has reignited debate here in
Australia over the country's ties to the Royal Family. The former Prime Minister Malcolm Turnbull will be with me in just a moment or three.
And the world is watching Australia's grand experiment the banning of social media for under 16s, two months in, we will take the temperature and
find out how it is going.
As you can tell today, for most of you, it is Thursday. Here it is Friday, I am Richard Quest today in Sydney and in Australia and in Sydney, of
course, I mean business.
A very good -- I was going to say good morning from Sydney, good evening where you are in Europe, Middle East and Africa. It is a late summer
morning here in Sydney and the views really don't get much better than this. The guests today, in case you hadn't realized, of the Sydney Opera
House, and we are just absolutely delighted that they have invited us and allowed us to present QUEST MEANS BUSINESS from here.
You'll hear more about the Opera House later in the program. By the way Sydney is not only one of my favorite cities, this is absolutely my
favorite building.
Tonight, we are going to be shining a lens on Australia and how the country is handling its various economic problems. The stubborn inflation, a cost
of living crisis and a complicated relationship with, of course, the Royal Family, which we will talk about in just a moment.
We begin in Britain, where of course, the day has been dominated by the news that Andrew Mountbatten-Windsor has been arrested and has now left
police custody after being arrested on suspicion of misconduct in public office.
The former Prince was photographed leaving the police station in Norfolk in England. The police questioned Andrew and searched addresses in Berkshire
and Norfolk. The authorities have not said what led to the arrest. However documents recently published by the U.S. Justice Department show Andrew was
in contact with Jeffrey Epstein, whilst Andrew was serving as the British Trade Envoy, and it is possible that documents that were passed from one to
the other.
Andrew has consistently denied any wrongdoing relating to Epstein although so far he hasn't commented on these latest. King Charles released a
statement which was highly unusual in itself. He expressed his deepest concern and said the law must now take its course. No matter what happens
from here, he said "We know Andrew's ties to Epstein have led to his downfall."
(BEGIN VIDEOTAPE)
QUEST (voice over): An unwise and costly friendship leading to a spectacular fall from grace for the man once known simply as Prince Andrew.
The British Police are carrying out searches at two of the former Prince's residences after arresting him early on Thursday on suspicion of misconduct
in public office.
The investigation was launched after a new tranche of documents relating to the convicted sex offender, Jeffrey Epstein, were made public by the U.S.
Department of Justice.
Some of the e-mails released appear to show Andrew sending confidential material to the late Epstein, a potential breach of his duty of
confidentiality while serving as Britain's Trade Envoy from 2001 to 2011.
As trade envoy, the former Prince facilitated deals between British and foreign companies promoting the country's interests abroad.
ANDREW MOUNTBATTEN-WINDSOR, FORMERLY KNOWN AS PRINCE ANDREW: If we can open doors and give the U.K. an advantage over our competitors, then I think
that's absolutely right and proper.
QUEST (voice over): But concerns about Andrew's ability to serve as Britain's Trade Envoy are not exactly new.
[16:05:10]
Something I asked him about in 2006.
MOUNTBATTEN-WINDSOR: I don't know. I mean, I am bringing a discipline a discipline to this that I believe is having the right effect.
QUEST: He stepped down from the role already under fire for his association with Epstein, who had pleaded guilty to state prostitution charges in 2008.
Andrew claimed he terminated his relationship with the convicted sex offender during a now infamous visit to New York in 2010.
In an interview with the BBC in 2019, the then-Prince said he regretted the visit and the delay in cutting ties but not much else.
BBC REPORTER: Do you regret the whole friendship with Epstein?
MOUNTBATTEN-WINDSOR: Now, I still not, the reason being is that that the people that I met and the opportunities that I was given to learn are
either by him or because of him were actually very useful.
QUEST (voice over): None of that seems to matter now. The police suspect him of misconduct in public office. But there is also an ongoing
investigation into allegations Epstein trafficked a woman to the U.K. for a sexual encounter with Andrew.
The former prince has not publicly responded to the latest allegations, but has consistently denied all accusations of wrongdoing. Amid the crisis, the
Crown is putting on a brave face.
REPORTER: Good afternoon, Your Majesty. Do you have any reaction to the arrest of your brother, sir?
QUEST (voice over): King Charles avoiding questions about his brother's arrest.
The King had previously stripped Andrew of his titles and in a statement released on Thursday morning, Charles vowing the Monarchy's full and
wholehearted support, adding the law must take its course.
Richard Quest, CNN.
PAULA NEWTON, CNN INTERNATIONAL HOST: And our thanks to Richard, we will be back to him in Sydney momentarily.
I am Paula Newton in New York. We now want to speak to CNN Royal commentator, Sally Bedell Smith, who is in London for us.
Thanks for having you here.
I mean, extraordinary doesn't really begin to cut it, does it? I mean we just listened to Richard's words there. I do wonder, though, how many
crises the Royal Family could handle at once here and I am -- I ask you, is this a constitutional crisis as well?
SALLY BEDELL SMITH, CNN CONTRIBUTOR: Well, it may well be because it touches, obviously, on the King. There is no indication that he is culpable
in any way, but perhaps questions will be asked of him -- how much he knew and when he knew it. There was a famous payment made to one of Andrew's
alleged victims, Virginia Giuffre, of an undisclosed amount, said to be around 12 million pounds. The Queen contributed to that.
Some of it came from Prince Philip's estate, some of it came from other members of the Royal Family, we don't know exactly who. And I think there
are legitimate questions that can be asked about who knew exactly what was involved in that, and obviously, the King has moved swiftly over the last
couple of years to, you know, strip Andrew of his titles and his patronages and to forcibly remove him from the home he had occupied for many decades.
And then, in effect kind of remanded him to a form of house arrest in his own estate until this morning, he was arrested, really arrested.
So, you know, there are aspects, even though Andrew is no longer a prince and no longer the Duke of York, he remains eighth in the line of
succession. He is still technically a councilor of state, which enables him to step in for a monarch. It is highly unlikely that would ever be -- that
it would ever fulfill that that function, but the mere fact that he still is holding on to those titles, I think is problematic.
And certainly, if he were to be arrested and tried and convicted and imprisoned, it would be unprecedented. The last, well, monarch to be
arrested and who was then beheaded was Charles I.
[16:10:08]
And so it is -- you know, people can compare it to the 1936 abdication crisis, where King Edward VIII stepped down from the throne, but this is
far more serious.
NEWTON: It is really astounding, everything you've outlined and yet there will be more to come. I do wonder what you make of the King's statement. It
was blunt to the point, and did not -- if you did not know it, you wouldn't even know that Andrew was the King's brother. It was very formal.
SMITH: It was. It was formal. It was about as cold as you can get. He didn't -- as you say, he did not refer to him as his brother. He simply
referred to him by his new name and that in itself, I think sent a message of putting further distance between the Royal Family and his scapegrace
brother.
NEWTON: Where do you think Andrew goes from here? I mean, he has been treated essentially as a commoner right now.
SMITH: Yes.
NEWTON: There will be a lot of questions now that he is released. It will take a while, right, for this case to see the light of day. Where do you
think he goes from here?
SMITH: Well, I think he will basically -- I don't think Charles is going to kick him into the street. I think he will remain under Charles' orders in a
very modest dwelling on the estate in Norfolk, Sandringham, that Charle's owns.
And so it would behoove Andrew to listen to him. He is not going to be trotting around on horseback and waving to onlookers the way he did in
Windsor when he was living there, and that is, I believe, that's one of the things that triggered his rather precipitous eviction from his 30-room
house, and now, he is living in a five-bedroom cottage.
NEWTON: And also notable, of course, that Prince William and Princess Kate as well, had a statement several weeks ago, not about this --
SMITH: Yes.
NEWTON: -- but definitely saying that their thoughts were with the victims. We will leave it there for now. Thanks so much. Appreciate it.
SMITH: You're welcome.
NEWTON: Now Richard did speak to then Prince Andrew in Davos in 2009. He explained the relationships he had built during his term as British Trade
Envoy. Listen.
(BEGIN VIDEO CLIP)
MOUNTBATTEN-WINDSOR: Over the last seven years since I've been doing this, this role for the United Kingdom, I've built up a network of contacts, both
business and in government. I've also built a large international relationship field.
And the government have asked, her Majesty's government have been saying to me please continue to build those relationships and work those
relationships because we need to know what people are thinking.
(END VIDEO CLIP)
NEWTON: Now, we want to be clear here. Andrew has not been charged with a crime. British Solicitor Chloe Jay told CNN that authorities will likely
conduct further inquiries and bring the evidence together.
Now, if Andrew is charged, the police will prosecute him in the name of the Crown, a remarkable position for King Charles to be in.
Nazir Afzal is a former chief crown prosecutor. He now serves as Chancellor of the University of Manchester. And, as we just pointed out, that case
will be going ahead in the name of the because he is the official head of State obviously.
We just outlined that, certainly, Andrew Mountbatten-Windsor, he denies any wrongdoing and that he has not yet been charged. How do you see this case
going forward understanding as well that there are searches going on at his residence.
NAZIR AFZAL, FORMER CHIEF CROWN PROSECUTOR, NOW SERVES AS CHANCELLOR OF THE UNIVERSITY OF MANCHESTER: Good evening.
The reason why he was arrested rather than voluntarily coming by appointment was because the police wanted to carry out those searches. They
wanted to look for relevant material in any of the accommodation that he has had.
He would have been interviewed at the police station. Today, he would have had a lawyer present; at the end of that, the police decided that they
don't have enough evidence currently and so, he was then released under investigation in the United States, you would call that bail.
And that means at some point, he will have to return to the police station. In the meantime, the police will examine the material they already have,
the e-mails that we've -- that Richard spoke about earlier, the interview, any other witnesses that come forward and make a judgment as to whether or
not the offense of misconduct in public office, which, by the way carries a maximum life imprisonment has been made out and what you have to show in
that scenario is that he was a public officer, that he willfully misconducted himself.
[16:15:17]
And that he did so in such a way that abused the public's trust.
Now, you know, the evidence that we've seen in the Epstein e-mails is quite serious. It suggests, allegedly, that he was passing information to
Epstein, often in real time. That was sensitive and confidential and that would ordinarily amount to misconduct.
However, what the police and the prosecutors will do is well, you know look at whether or not there was any justification for that. We have to remember
also that he is innocent until proven guilty. So, you know, we can't comment. In the United Kingdom, we can't comment on the evidence in this
case whilst now that the proceedings, in effect, are active.
But that said, he faces a short time on under investigation. He will undoubtedly be returning to be interviewed again and there is a strong
possibility that he will be charged with this offense and any other offenses that might flow from that. I think it needs to be said, although
that because of the nature of these offenses, largely documentary offenses, that's the reason why the police were able to move quite quickly to the
arrest stage.
But as you said previously, over the last 10 years or so, he has been under investigation or being concerned in relation to sexual abuse allegations
and those have not progressed at all.
So, it may well be that they, too, are being looked at by either this police force or by the Metropolitan Police in London, so I think Andrew's
issues and problems have only just begun.
NEWTON: And you outlined quite the intensive investigation on several fronts.
In terms of the way this plays out, does this play out as if Andrew were you or me? Is there any distinct distinguishing factors here, especially
since, as we pointed out, he is still eighth in line to the throne.
AFZAL: He is -- the King has made him a private citizen by removing all of his airs and graces, all of his titles, and he will be treated as a private
citizen. That said, it is extremely high profile. I mean I've dealt with very high profile cases, and I can assure you that prosecutors and police
will be dotting all the I's, crossing all the T's making sure that everything is done absolutely properly to the fullest extent and
comprehensively in order that if they decide not to charge that they can explain that; if they do decide to charge, they too will be able to proceed
to a trial.
So, I think whilst he is being dealt with as a private citizen, I can have no doubt whatsoever that it will be any decision on this case will be taken
by the most senior and most experienced police officers, and the most senior and most experienced prosecutors.
NEWTON: Nazir Afzal for us in Manchester, thank you very much. We learned a lot. Appreciate it.
And we do now want to get back to Richard in sunny Sydney.
Richard, as I said, astounding and it hasn't even really begun yet.
QUEST: No, it hasn't, the beginning of it. Well, here in Australia, Andrew's arrest has reignited a debate about the country's ties to the
British Monarchy.
Our next guest, Malcolm Turnbull, led the Australian Republican movement in the 1990s and pushed for the constitutional reform. The question was
finally put to the voters in 1999, and they chose to keep the British Monarch as their head of state, arguably because of a bit of nifty footwork
by the then Prime Minister, in the way that the question was phrased.
Malcolm Turnbull later served as Australia's Prime Minister. He is with me now.
So, when you look at the events of today, at one level you know, what happens with the British Royal Family is, as remote as possible to be
12,000 miles away. But it is, you know, the King is head of state here in Australia, so it is relevant.
MALCOLM TURNBULL, FORMER AUSTRALIA'S PRIME MINISTER: It certainly is and it clearly -- it clearly will be revived, the debate about the Republican
Australia. There is not a lot of enthusiasm for taking on the debate from the Australian federal government. As you may recall, a couple of years
ago, the Albanese Labour government had a big setback, they lost a referendum on an indigenous voice, which they were quite sanguine about
their prospects, they shouldn't have been, to be honest, but they lost that and that has rather spooked them for constitutional change.
But, you know, the fundamental incongruity is why do we have a British person as our head of state?
[16:20:02]
QUEST: The conventional wisdom had always been that with the passing of the Queen, then Australia would revisit that question. That seems to have gone
away.
TURNBULL: Well again, it is because the Labour government, when they came in in 2022, were committed to progressing the Republic issue, but the only
thing I can say is they were spooked by losing the voice referendum.
Our Constitution is really hard to change. You need to get a national majority and a majority in four out of the six states, and we have
compulsory voting, which is a fabulous thing for our democracy because it means, you know, over 90 percent of all eligible Australian's vote in an
election.
But the problem with a referendum is that when you're asking people to support change, those people who don't understand it don't know much about
it are more likely to vote no.
QUEST: I realize that you did lead the Republican Movement, but if there was a straight up or down vote today, do you want a Republic? Never mind
how the president is elected or anything like that, what do you believe it would be?
TURNBULL: Well, I think it would be a majority, but I think the way we've got to do it next time is first have an advisory vote on how to elect the
President. You know parliamentary appointment or direct election, resolve that and then go to the actual constitutional amendment.
And I think if we do that, we will win because we lost in 1999 because we were fighting on two fronts.
QUEST: Interestingly, it will not happen in our lifetime, that vote again, I don't think.
TURNBULL: Well, you look perfectly healthy to me, I hope -- I hope it does.
QUEST: You'll stay with us and talk about the Australian economy after the break, sir.
TURNBULL: Sure.
QUEST: I am very grateful to you.
In a moment, the former Prime Minister is remaining, and we will be discussing inflation, putting pressure on the country's way of life.
(COMMERCIAL BREAK)
QUEST: Australia's unemployment rate held steady last month at 4.1 percent, as the economy added 18,000 jobs. It is a solid labor market and it
strengthens the case for rate hikes as the Royal Bank of Australia, the RBA fights persistent inflation.
High prices aren't the only problem that the country's leaders are dealing with. This summer has seen a host of issues from including those, of
course, from Mother Nature.
[16:25:06]
(BEGIN VIDEOTAPE)
QUEST (voice over): It has been an ominous summer down under.
Four shark attacks in 48 hours in January. It put a dampener on the sunshine during a summer season that has seen record setting heat. Also
running hot in Australia, inflation.
After outperforming its peers post pandemic, Australia's economy has struggled recently. Growth is slow, barely two percent; inflation at 3.8
percent well above the Central Bank's target.
The authorities are struggling to get it under control.
ANTHONY ALBANESE, AUSTRALIAN PRIME MINISTER: Of course, we know that Australians are still doing it tough with cost of living pressures and our
number one focus is looking at how we can help families take some of the pressure off.
QUEST (on camera) With all these challenges, it is now more difficult for Australians to live the lifestyle for which the country has become known --
owning your own home, enjoying the beach, the backyard and the barbecue. It is now increasingly difficult to achieve.
QUEST (voice over): On the foreign stage, Australia is not having an easy time with the United States.
The Australian Ambassador in Washington, Kevin Rudd, his days were numbered after this interaction with Donald Trump at The White House.
REPORTER: Have you had any concerns with this administration, things the Ambassador said about you in the past, the Australian Ambassador?
DONALD TRUMP (R), PRESIDENT OF THE UNITED STATES OF AMERICA: You said bad?
KEVIN RUDD, AUSTRALIAN AMBASSADOR TO THE U.S.: Before I took this position, Mr. President.
TRUMP: I don't like you either. I don't and I probably never will.
QUEST (voice over): Ambassador Rudd resigned in January.
And now Canberra is looking elsewhere to strengthen economic ties. Relations with China, for instance. Once frayed, now improving.
ALBANESE: Seeking common ground while sharing differences.
QUEST (voice over): The Prime Minister, Anthony Albanese visited his country's largest trading partner in July, and negotiations for a trade
deal between Australia and the E.U. are underway.
This past year, Australia slipped out of the top ten ranking of the world's happiest countries, the product of a growing satisfaction gap between young
and old. It is a challenge that faces politicians and economists alike.
Everyone here, it seems, is navigating the country's difficult future.
(END VIDEOTAPE)
QUEST: Malcolm Turnbull is with me, the former Prime Minister of Australia.
How would you characterize the current state of the economy and it is current feeling of what is going on in the country?
TURNBULL: Well, I would say generally good, but people are concerned about inflation. They are concerned about rates going up again. The Reserve Bank
has put rates up again, have indicated they will do so some more.
So, there is starting to be some concern. But of course that's what the Central Bank wants, right? They want people to pull their horns in a bit.
QUEST: The way of life in Australia, I mean, it is legendary for its high quality, the quality of life is superb. But that has also led to high
deficits on trade. It has also led to an unbalanced economy quite often.
TURNBULL: I wouldn't agree with that. I think -- I think in terms of our quality of life, I think one of the big issues here we've got is housing
affordability and inequality. And so, you know, we really need to address that. We need to be building more houses. We've got a classic supply and
demand problem here.
And you know, we are just not building enough units for residential property.
QUEST: What about the country's positioning between the United States and China and the -- Australia is in a very good act, for many years, at sort
of not getting caught too much in the middle. That's much more difficult with President Trump.
TURNBULL: Well, it has also been made more difficult by a number of decisions that have been made recently. In fact, since I was P.M. You know,
the AUKUS decision, you know, to buy/build nuclear-powered submarines from the United States. You know, more U.S. bases in Australia. So you know
while we've got a Labour government, notionally center-left, they have tipped further and further towards the United States.
And, of course, the irony of this is that we are becoming more dependent on America right at the time when America is less dependable.
QUEST: And that's the core problem that every country faces. And you see this rather obscene dancing around, trying not to get on the bad side or
the wrong side of the President.
TURNBULL: Well, I've dealt with President Trump and my experience, and I think I am being vindicated again, sucking up to Donald Trump is a big
mistake.
The way to win Trump's respect is to stand your ground, state your case and not back down and the grovelers, look at the Europeans who rolled over at
Turnberry last year, you know, the golf resort in Scotland and were flattering him just as he was imposing a very unfair trade deal and they
next thing they got him threatening to seize Greenland.
[16:30:37]
QUEST: Right. But you -- that's the problem. You can't know where you stand. And it's very hard to make long-term policy when you have a
mercurial president who is likely to, because of animus, go in the opposite direction.
TURNBULL: Well, I think my experience is the best way to win is respect. And I was able to do that is to stand your ground, you know, to use a
cricketing metaphor, stand firm, play a straight bat. you know?
QUEST: Oh, no --
TURNBULL: Don't --
QUEST: You have to mention cricket. It was all --
TURNBULL: I'm not rubbing it in.
QUEST: No, you are rubbing it in.
TURNBULL: Just subtly.
QUEST: Like a brick. And ultimately where do you think Australia lies in the world? Bearing in mind Mark Carney's middle powers speech at Davos,
which was brilliantly put, and Australia absolutely comes into that category of the variable category.
TURNBULL: Well, I think Carney's speech was brilliant. It's one of the most important speeches given in recent times. And I think it absolutely fits
the approach that Australia should take. Those of us who still believe in free trade and the rule of law, those of us who do not believe, as the U.S.
National Defense Strategy recently said, that the international rules based order is a cloud castle abstraction.
We need to work together and that means middle powers like the U.K., like the E.U., like Canada, like Australia should work together. I mean, we're
all middle powers, Richard, apart from China and the U.S.
QUEST: But it means choosing your partners, which will be variable depending on the issue.
TURNBULL: Correct. That's right. And it just means being independent. Sovereignty matters.
QUEST: Right. Thank you sir.
TURNBULL: Thank you.
QUEST: I'm very grateful. What a marvelous view. Thank you, sir.
As we continue tonight, this morning I should say, the former Prince Andrew's ties to Jeffrey Epstein have made him a liability to the royal
family. His arrest marks a new low point. We'll be at Buckingham Palace after the break.
(COMMERCIAL BREAK)
[16:35:44]
QUEST: Hello, I'm Richard Quest. There's more QUEST MEANS BUSINESS in a moment when we'll find out how young people in Australia are adapting to
its age limit for social media. And we're joining you from of course a landmark that was almost never built. The remarkable story of this
fantastic building, the Sydney Opera House.
We'll get to that after the headlines because this is CNN and on this network, the news always comes first.
Andrew Mountbatten-Windsor has left a police station after his arrest earlier today. The former prince is being investigated on suspicion of
misconduct in public office, though police have not said what specifically led to the arrest. He spent a decade as the U.K.'s trade envoy, and e-mails
released from the Epstein files appear to show that he sent confidential trade information to Jeffrey Epstein.
President Trump held the first meeting of his newly formed Board of Peace. At least 20 countries were represented there. Mr. Trump said the U.S. will
give the board $10 billion to help resolve global conflicts. He said other nations have contributed $7 billion to rebuild Gaza.
One of the most anticipated matchups of the Winter Olympics lived up to its billing. The U.S. women's hockey team faced off against Canada for gold and
emerged victorious. Team USA's Megan Keller scored the winning goal in overtime. The final score was 2 to 1. Minutes earlier her teammate Hilary
Knight sent the game to overtime with her goal becoming the all-time leader in Olympic points and goals in U.S. women's hockey history.
The royal family is in crisis after the arrest of King Charles's brother Andrew Mountbatten-Windsor. In a statement, the king said, "I have learned
with the deepest concern the news about Andrew Mountbatten-Windsor and suspicion of misconduct in public office." The king also said authorities
had the full support of the royal family.
The release of the documents related to Epstein has sent shockwaves through British politics.
Max Foster is in London.
You and I have talked before, Max, about how it seems that the weight of repercussions and consequences seem to be greater in the U.K. than in the
U.S., of course, where Epstein lived. But in this case Charles really is between the rock and a hard place.
MAX FOSTER, CNN ROYAL CORRESPONDENT: It's interesting hearing you read the statement there, how he refers to Andrew Mountbatten-Windsor as if he's
some separate figure away from Charles's set up. Of course he's his brother, but he's tried to separate himself as much as possible from
Andrew, stripping him of his titles, evicting him from his home, putting him out in the shires, if you like.
And that language of the statement I thought was really stark, and it very much did come from the king because it was -- I know that the king wasn't
alerted to this arrest before it happened. And the statement came out a few hours later. And, you know, Richard, how long it takes for these statements
to come out. Normally, they normally come from a spokesperson but this came from the king.
So that was a very fast turnaround and a real sign, I think, Richard, that he's just trying to get ahead of this. And, you know, I spoke to someone
very close to him today who has shown that he believes that the public is, you know, understanding that and understanding how the king wants to
protect the monarchy. And that's what the British public want, too.
QUEST: Right, but, Max, the family both, you know, personally and institutionally must also be preparing themselves for if Andrew is charged.
Now there's no indication yet that the investigation will lead to charges. It's underway. Now the arrest has taken place. But if it does, charges do
flow and follow, then the family needs to be prepared for that.
[16:40:01]
FOSTER: The constant shadow over everything that they do, we saw that today. You know, questions being thrown at Charles. William has had it, the
Queen had it. They can't go about their daily work and highlight causes and represent the U.K. with this constant shadow and all the reporting of
anything that they do constantly being related to Andrew.
The other interesting element to this is that by the police going in and arresting Andrew on a royal estate rather than inviting him into the police
station was, as I understand it, done so they could start an immediate search of Andrew's home in Norfolk. So they're going through all of his
communications. They're not just going to see selective communications. They're going to see everything.
So from that, will there be some sort of implication that the palace should have been across what was happening at the time?
QUEST: Right. Max, I'm grateful. Max Foster in London, Buckingham Palace, thank you.
It's now been two months since Australia imposed a minimum age for social media. So those under 16, how have they responded to the groundbreaking
law? It was controversial and it remains so today.
(COMMERCIAL BREAK)
QUEST: Now, it's been two months since children across Australia lost access to their social media accounts, and everybody is watching and
wondering, how is it working out. Because there are other countries like Spain that are looking at doing the same thing. The ban was the first of
its kind, aimed at protecting people under 16 from the addictive algorithms and other online threats. Other European countries are working on similar
measures.
Australia's ban covers 10 platforms. All the biggies, Facebook, YouTube and TikTok. Another popular apps like Discord, Roblox and WhatsApp were
excluded.
Project Rockit works to combat bullying and prejudice amongst young people. The organization's co-founder and chief executive, Lucy Thomas, is with me,
and 16-year-old Vedrana Srbinoska is a member of the Project Rockit's Youth Collective.
You are not covered by the ban because you're outside it, correct?
VEDRANA SRBINOSKA, MEMBER, PROJECT ROCKIT'S YOUTH COLLECTIVE: Yes.
QUEST: But your friends are. How are they coping?
SRBINOSKA: Well, a lot of them haven't actually been banned off of platforms, and if they have, they don't have access to social media. And
since half of us are actually on the platforms they can't really connect with us as much and as often.
[16:45:09]
QUEST: Are they annoyed? Or do they just -- how do they feel about it?
SRBINOSKA: I've definitely heard some annoyance, yes. It's definitely hard to not be able to reach out with your friends outside of school. So for
those of us who are still under 16 and have friends that are all 16 have access to social media it's definitely hard to navigate.
QUEST: Now it's too soon to know how this is going over a long period of time. It's barely been a couple of months. But from these early days, what
are you seeing?
LUCY THOMAS, COFOUNDER AND CEO, PROJECT ROCKIT: Yes, well, as you acknowledge, we're two months in. So what we're seeing is really a
reflection of initial experiences rather than clear outcomes. But certainly teens are reporting are really kind of wide range of measures by platforms,
different ways that they're assessing age. And so some are saying it's very intense. Others are saying it's really light touch.
We're hearing about a 13-year-old say who has actually passed age verification checks, while his older 18-year-old sister has had her account
removed. And of course, these kinds of glitches and implementation do have social impacts for young people.
QUEST: Right. But I guess there's two aspects to that, isn't there? There's whether or not the system is working as it should do in the sense of, you
know, are the right people being kept out and so forth. And then whether or not the policy point is working. What do you think?
THOMAS: I still think it's too soon to say. One thing I will say that's incredible is that young people are incredibly adaptive and dynamic, which
you'd experience. So some of them are accepting that they're no longer on social media, and they're finding other ways to connect with friends.
They're relatively unaffected.
Whereas others and often young people that don't have these real life supports, they're finding it really hard. They're experiencing a lot of
grief and fallout because they're basically missing their community.
QUEST: Now, when you of course you are younger, 14, 15 and so forth, and you were using these social medias, how did you find it? I mean, did you
find it difficult? Did you find it taking over your life? And it takes over mine so, you know, don't worry.
SRBINOSKA: I think a lot of people do find that it can take over their life in some aspects. For example, my social media use could have been a little
bit too much some days and that obviously leads to some negative impacts as well. But it also did foster a positive social connection.
QUEST: Right. Now you're 16 so you can use it. Do you believe the -- do you believe the ban is a good idea?
SRBINOSKA: I would not say the ban is a good nor bad idea. I think the policy makers made -- had a great idea behind it, to remove young people
from harmful content that is online, but the harmful content is still there, and young people are finding ways to access it.
QUEST: You see, that's the point, isn't it? You go round it, you go through it, you go over it, you go underneath it. They will still find ways to do
it.
THOMAS: Yes. I guess the point you're making is that young people aren't inherently rebellious rule breakers. They actually find value in these
platforms. And so that's the challenge. How can we preserve the support agency participation, belonging connection while also keeping them safe
online?
QUEST: Right. So would you recommend other countries do the same? Now, I know it's invidious to talk about what another country might do or should
do. Would you recommend other countries look at the same?
SRBINOSKA: I'm not sure about that.
THOMAS: Do you want me to buy you some time?
QUEST: No. No. I mean, that's the point.
THOMAS: Yes.
QUEST: That is exactly the point. Because on the one hand, you can say it's a good -- what do you think? Do you think other countries should?
THOMAS: Well, I'd be very cautious about importing a policy. A single policy is a one-size-fits-all. I think Australia is a very specific -- has
a very specific cultural context. We have a rich ecosystem of youth participation and organizations like Project Rockit and others that are
supporting young people. You know, with digital literacy. There are also a whole range of other policy instruments that are kind of accompanying this.
So on its own, I don't know, I wouldn't recommend jumping the gun. I think the rest of the world is in a great position to watch and wait and see what
plays out in Australia. The biggest thing I'd add though.
QUEST: Yes. Yes.
THOMAS: The biggest learning is that if you are considering putting in place a measure like this, it's critical that you involve young people in
the design as well as the implementation.
QUEST: Do you feel you were involved? Do you feel young people were involved?
SRBINOSKA: Well, I think they were asked questions, but I don't think we were involved fully.
QUEST: Well, thank you very much for coming along this morning and talking to us about it. Thank you very much.
SRBINOSKA: Thank you.
THOMAS: Thank you.
QUEST: We are live at the Sydney Opera House today, tonight for you. This building is more than 50 years old, and its original design came with huge
challenges. The story behind its iconic white sails.
(COMMERCIAL BREAK)
[16:52:21]
QUEST: Wonderful. QUEST MEANS BUSINESS today from the Sydney Opera House, and we are so delighted that they allowed us to come here and take over
part of the opera house. Magnificent. A dream come true, particularly for me, because this building is absolutely one of my favorite in the world.
I've loved it since my first visit to Sydney 35 years ago. I've still got all the photos. A friend of mine who I was staying with said to me,
Richard, when you go and look at the opera house, you'll never -- you'll keep thinking, oh, no, that's the definitive -- oh no, that's the
definitive. And you'll go home with hundreds of pictures of the opera house. I mean, in those days it was film, it wasn't on digital.
Now, I've loved the opera house so much it's also the background screensaver on both my phone and computer. The design of this building is
stunning, but so is the story behind it.
(BEGIN VIDEOTAPE)
QUEST (voice-over): The late summer sun shines on its famous white sails. This is the beacon of Australia. The Sydney Opera House, which stands tall
in all its architectural majesty. A symbol of the city. It was built as a result of a government design competition way back in 1955. It was the late
entry, the drawings of the Danish architect Jorn Utzon that won against more than 230 other entries.
It was the perfect design for Sydney's new cultural center, at least on paper. Utzon's design was ambitious, but it presented more technical
challenges than anticipated. His drawings had to be reworked for years, and with each tweak needed more money. Practical and financial issues delayed
the project. Construction finished 10 years behind the schedule and it was $95 million over budget.
Queen Elizabeth II finally opened the opera house doors in 1973. It is a sad fact that there was so much disagreement between the Sydney authorities
and Utzon himself that he never returned to Sydney and saw the final building.
[16:55:02]
And so, over the last 50 years, the Sydney Opera House has hosted more than 1800 performances a year. Eleven million visitors come here. It is the
country's top tourist attraction.
The Sydney Opera House is a performing arts institution. A distinct image of Australia. Oh, and yes, it's one of my favorite buildings in the world.
(END VIDEOTAPE)
QUEST: I shall wax lyrical about the Opera House in a "Profitable Moment" in a moment. Let me just show you the markets and how they all closed as we
come to the end of, well, actually, it's your Thursday. I keep forgetting. It's a Thursday for you. It's a Friday here in Australia. They're already
off to the weekend assuming they ever started the week in the first place.
This is a look and show you how the markets are, rather not too bad, all things considered. It could have been a lot worse. Bearing in mind the
undertones and undercurrents.
We will have a "Profitable Moment" after the break.
(COMMERCIAL BREAK)
QUEST: Tonight's "Profitable Moment."
One of the reasons I always say I like working in Australia or coming down here, besides just the magnificence of the place and the food and the
people, is the time difference to the Northern Hemisphere. I think I've told you this before. If you think about it, it is already the middle of
the evening in Europe, as of QUEST MEANS BUSINESS, it's late afternoon in the U.S. and we are starting our day in Australia.
So the day is sort of coming to an end for the rest of you. Here we're just getting going. We send the e-mails, you get the replies, everybody is
happy. And then I've got hours and hours without the backwards and forwards that you get with London, New York, Paris, et cetera., et cetera. Overall,
one of the wonderful parts of me of coming down to Australia is you get to switch off. You get to focus on the day of what you're doing, and everybody
else gets on with their lives accordingly.
Now to this magnificent building where we are. The Sydney Opera House. I think it was true genius, not just of Utzon to design it, which is
phenomenal but the organizers who chose it. Could they have known that it was going to be so distinctive, it would make such a landmark statement?
And think about it, they were putting it on the most important part of the city.
Now that is true civic genius.
And that's QUEST MEANS BUSINESS for this Friday night. I'm Richard Quest in Sydney. Whatever you're up to in the hours ahead, I hope it's profitable.
END
