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Quest Means Business

U.S. Markets Fall After Strong August Jobs Report; U.S. Economy Ads 162K Jobbs in August, Smashing Expectations; Judge Declares Mistrial In Lindsay Clancy Case Amid Hung Jury; IMO: Handful Of Ships Passing Through Hormuz Each Day; Reform U.K. Aides Step Down After Foreign Funding Report. Aired 4-5p ET

Aired September 04, 2026 - 16:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[16:18:10]

QUEST: Hello, I am Richard Quest. This is QUEST MEANS BUSINESS.

We will have much more on the Lindsay Clancy mistrial in the next hour or so. First to our business agenda where we are going to be talking a lot of

strong U.S. Jobs Report has some investors worried that the Fed will soon raise interest rates. President Trump says it is a good reason for the Fed

to cut them. Let's look at the actual numbers that we saw.

The economy added a robust 162,000 jobs in August. Now that is double what was expected, and the unemployment rate held steady at 4.1 percent. Shortly

after the jobs report was released, the President renewed his demand that the fed lower rates and he threatened, and this was an interesting part, he

threatened to stop trading with countries if the Fed doesn't.

I am not entirely certain that I see the connection between the two, but this is what the President spoke about this afternoon from the Oval Office.

(BEGIN VIDEO CLIP)

DONALD TRUMP (R), PRESIDENT OF THE UNITED STATES OF AMERICA: We could do tremendous good for ourselves by just not trading with countries. We lose

with the European Union $200 billion a year. If I didn't trade with them, we'd lose nothing. Just one swipe of a pen. We lose with Mexico $195

billion a year. If I don t trade with Mexico. They have nothing that we have to have.

I mean, hot tamales, tomatoes, a couple of things, but basically they have nothing that we need. We have oil. We have everything.

(END VIDEO CLIP)

QUEST: Kevin Liptak is at The White House.

I don't even know where to begin with this one, because we've moved into a realm of Never Neverland, it is extraordinary.

[16:20:10]

But let's try and make sense of it. First of all, we have the jobs number that far from suggesting a cut in interest rates, would actually presage a

rise in rates. What is The White House saying?

KEVIN LIPTAK, CNN SENIOR WHITE HOUSE REPORTER: Well, I mean, that seems to be the takeaway that President Trump had from the Jobs Report this morning.

Combined with what we heard from Kevin Warsh earlier this week, not ruling out a rate later this month, it seems like the deciding factor will be the

inflation numbers next week.

But clearly, President Trump sees what is coming down the pike here and wants to head it off by threatening this extraordinary act of cutting off

trade with any country that the U.S. has a trade deficit with, that would be many, many countries, and it would obviously cause -- I don t even know

how that would even happen. Like just from the get go, it doesn't seem as if that is logistically possible.

But even if the President were to sign something to try and go down that road, you know, it would cause an enormous harm to businesses and to

consumers at clearly a vulnerable political moment for him as well.

And so there doesn't seem like there is a real question of whether he would actually do this, just given what it would actually portend for the

economy, for his own political prospects. But clearly he is trying to send a signal to the Fed and to Kevin Warsh that he is willing to take some sort

of nuclear option if they do decide to raise rates later this month.

QUEST: Kevin Warsh is only one vote on the FOMC, a very important one, but only one vote. Now, it is starting to sort of leak, and people are starting

to whisper about who might vote for what. But there is no question Warsh has nailed his colors to the mast. If inflation remains high and it is not

on a downward trend, to use his exact words, there is work to be done.

And this employment number does not help him.

LIPTAK: No, and I think the question I have is whether this is the end of the honeymoon period for Kevin Warsh and President Trump. You know, the

President had given him fairly wide leeway. He, too, points out that Warsh has a board that he has to corral on these rate decisions. And so the

President clearly understands that Warsh is not the only person who will have a say in this later in September.

But, you know, we've seen the President turn very quickly on anyone who gets in his way when it comes to lowering interest rates, which is his sort

of bete noire for the last year or two years.

And so does this mean that the President is now souring entirely on his Fed Chairman pick? We don t know just yet, but it is clearly heading in that

direction.

QUEST: Kevin Liptak, I am grateful.

Robert Reich served as U.S. Labor Secretary in President Clinton. He is also author of "The System: Who rigged it and How We Fix it."

Mr. Secretary, it is always good to see you and to hear you. Let's do the job numbers first. Robust job growth. And if -- I mean, it does suggest

that a rise in rates is more is more likely necessary than not bearing in mind inflation is already hot and it is not cooling.

ROBERT REICH, FORMER U.S. LABOR SECRETARY, "THE SYSTEM: WHO RIGGED IT AND HOW WE FIX IT" AUTHOR: Yes, that's exactly right, Richard.

I think that the major problem facing Warsh -- Kevin Warsh and the Fed in terms of raising rates was a fear that they were going to hurt jobs.

Remember, the Fed has this dual mandate both to avoid inflation but also to seek full employment.

Well, if the job situation is pretty good, then it has a fair shot at doing the other thing that it is supposed to be doing, and that is fighting

inflation.

So I think that's indeed what the Fed is likely to do. Now, whether it does it immediately waits till another month, waits after the midterms that's

another issue entirely. But I think we can pretty much count on a rate increase.

QUEST: Right, now, we come to this next bit because you've been in government at the very highest levels, and the President's threat to stop

trading. I mean, let's just decouple the reason why he says -- you know, if they don t cut rates, but just on the legality, feasibility, practicality

and possibility of actually ordering to stop trading with, say, as the President did the European Union. Does he even have the power, and if he

did, how would you do it?

[16:25:10]

REICH: Well, he might do it even though he doesn't have the power. President Trump has done things that he doesn't have the power to do and

then he litigates through the courts. But I think there is a larger issue here.

I think he is showing signs -- well, I hate to even say it. I am his age, but he is showing signs of not having it all together. Maybe this is

advanced dementia. It is certainly economic illiteracy.

I mean, who in the world is advising the President on economics? It doesn't look like anybody is. If Scott Bessent is trying to advise the President, I

don t know what Scott Bessent makes of what the President just said about trade. I mean, this really is a serious wake-up call if America needed one

about the state of the President's mind.

QUEST: Because one of two things can happen here, either it becomes clear that it is just an idle threat and we all carry on our morning business and

have a cup of tea, or he actually tries to do something and the market is spooked.

I mean, could you imagine if you actually tried to stop trade with the European Union, the hundreds of billions of dollars and then the market

would fall out of bed or it becomes a paper tiger. I don t know which.

Go ahead.

REICH: Richard, I mean, it is not just the European Union, he is talking about all trade -- he is talking about -- he doesn't know why we engage in

trade. I mean, this reveals a level of ignorance that even Donald Trump has not reached before. We don't -- I mean, what in the world is he talking

about?

And your point, if he actually tries to do this, well, who is going to stop him? Eventually the courts might stop him. But in the middle -- in the

meantime, there could be a lot of chaos, a lot of confusion, a lot of -- well, a lot of economic devastation.

Remember, the Republicans face a midterm election coming up quite soon, and it looks like the President is doing everything he possibly can to sabotage

the Republicans in that midterm election.

QUEST: I am grateful to you, sir. Mr. Secretary, have a good weekend, sir. Thank you for joining us.

REICH: Thank you. Richard. You too.

QUEST: It is QUEST MEANS BUSINESS. Thank you.

We are live tonight in London. We are going to turn our attention to Germany ahead of an election where many are expecting a far-right surge

greater than has been seen in decades.

Could the far-right take control? The AFD? Could they take control of one of the German regions? After the break, QUEST MEANS BUSINESS.

(COMMERCIAL BREAK)

[16:31:01]

RICHARD QUEST, CNN INTERNATIONAL ANCHOR: Hello, I'm Richard Quest. We together have a lot more QUEST MEANS BUSINESS.

I'm going to be talking to you about Saxony and Holt, where we'll be as the far right looks set to make gains in this week's elections in Germany.

Before that, we'll get to the news, though, because here this is CNN, and on this network, the news always comes first.

A mistrial has been declared in Massachusetts in the Lindsay Clancy trial. The jury said they could not come to a unanimous decision. The prosecution

has not yet decided if it will retry this case.

Lindsay Clancy is accused of murdering her three young children. Her defense has blamed the actions on postpartum psychosis.

Now, they are being trapped for more than nine days following catastrophic flooding, few people have been found alive in Nepal, when rescue teams

pulled the two men from an underground chamber of a hydropower plant on Friday. Both are being treated at local hospitals. One is in critical

condition; the other is said to be stable.

Argentina's president has announced plans to sanction oil companies working near the Falkland Islands in the South Atlantic.

Javier Milei has reasserted Argentina's claim to the territory, which, of course, Britain has controlled since 1833. Now, it's said that an oil field

project involving British and Israeli firms is in urgent danger that's moving towards oil extraction without Argentina's permission.

There were nearly six weeks of testimony, and the jury deliberated for 38 hours over seven days. Besides the last-minute legal challenges, when all

was said and done, the judge in the Lindsay Clancy trial case has declared a mistrial.

The jurors said they simply could not reach a unanimous verdict in the case of the 36-year-old mother. She has been -- she is admitted to strangling

her three children in 2023.

The district attorney says he has yet to decide whether or not he will retry the case.

(BEGIN VIDEO CLIP)

TIMOTHY CRUZ, DISTRICT ATTORNEY OF PLYMOUTH COUNTY, MASSACHUSETTS: Our priority has always been to fight for Cora, for Dawson, and for Callan. The

noise in this case may be louder than it is for other prosecutions in our county, but we have treated it the same as any other case. Children were

murdered, and it's our job to seek justice.

(END VIDEO CLIP)

QUEST: David Weinstein's with me, former state and federal prosecutor and a partner at Jones Walker.

Well, look, there are no winners in this particular case. I mean, you know, even the fact tonight that we are learning, apparently rumor, that it was

11 to acquit and one to convict. This is the sort of information we're not supposed to know what the sanctity of the jury room. And it makes it all

very difficult just to know what happens next.

DAVID WEINSTEIN, FORMER STATE AND FEDERAL PROSECUTOR: Well, it's not necessarily something that we shouldn't know, but it's something we can

know. It's up to these jurors to decide whether or not they are going to let us in on this.

We learned this information through the defense counsel, and my question is whether it was a straight-out not guilty, or whether it was not guilty by

reason of insanity, which has a completely different meaning in the context of this case. But whatever it may have been, it was not going to be a

guilty verdict, or at least that's what we are being told.

QUEST: Yes, David. I mean, would it even have been possible -- I mean, yes, technically possible to be a not guilty. But since she is admitted to

actually killing them, I suppose what -- it's a reasonable assumption for us to say would be not guilty by reason of, and then, you go on to the next

stage.

[16:35:05]

So, do you think -- do you think this is strong fodder, if you will, for a deal -- a plea deal along that line to be done now?

WEINSTEIN: Well, I think it is. I think that you put the family, the next of kin, through a lot of trauma here. The community has been through a lot.

Look, these children are and will remain gone from this earth. But the issue here is what is the punishment that's going to be handed out to their

mother?

It appears, based on what we now know, that to some degree, at least 11 of these jurors, perhaps, have agreed that she was not competent at the time

that she committed these crimes, and so, the defense did their job. So now the prosecution has to decide. Are we going to go back and try this again,

and 12 people make that same determination, or can we work out some sort of a resolution that ends up with the same result?

Because not guilty by reason of insanity is going to require her to be institutionalized for the rest of her life, and so, perhaps the better

resolution is to give her the mental health treatment that she needs and not goes through another trial.

QUEST: There is a strong feeling that this, I mean, this case should never have been brought. In a sense, you know, anybody who is -- who spent any

time near the law knows that these are horrible cases where the blunt instrument of the criminal legal system rarely is the right instrument to

be used.

WEINSTEIN: Well, I think you have to step back and look at it from the perspective of these three children. The defense has brought forward

evidence linked to the mother's instability. The prosecution didn't believe that evidence when it came forward, and they attacked it during the course

of the trial.

And these jurists heard evidence about premeditation, about what she was doing leading up to the homicides, and then, what condition she was in

afterwards. So, the prosecution had a question about whether or not this is all actually founded in chief and in science.

(CROSSTALK)

QUEST: Right.

WEINSTEIN: And that's why they brought this case. The defense did a good job presenting their side of the story, and so, to the extent that this is

about mental health and what happens to the people similarly situated, that's now what the prosecution needs to go back and consider, and sit down

and look at themselves, and sit with the defense and decide, do we want to go through this again, or should we get this woman some help?

QUEST: One more. I'm interested in your perspective. Did the judge do a good job, a bad job, a dreadful job. He shouldn't be anywhere. I mean,

what's your feeling of the way, particularly that he handled the that period over the jury deliberation?

WEINSTEIN: I think he did an excellent job. We have all seen a lot of courtroom drama these days because of the proliferation of cameras in the

courtroom. He had and maintained control of his courtroom.

The case was conducted in a civil manner. The parties were respectful for each other, but were zealous advocates for each side. He did not play to

the camera. He was not making himself a celebrity. And as how he handled the deliberations, these jurors were having a tough time.

The only criticism thus far is coming from the defense. They believe he should have removed the juror, that he should have inquired harder of this

juror, who was refusing to deliberate and who was not, according to the defense's words, following the law. He pushed hard, but he did not, as did

a court of appeals very quickly find abuse his discretion.

So, I give him a very good grade for what he's done. He has a very hard job. I think that the outcome is what the outcome is, and he conducted this

trial in a manner that those of us who practice in the courtroom would hope all judges do.

QUEST: David, I'm grateful. Thank you, sir, and have a good weekend. Thank you for joining us.

In a moment, the International Maritime Organization says a handful of ships are getting through the Straits of Hormuz each day. So, what's going

on? What about the ships that have been there for a while?

The Secretary General is Arsenio Dominguez. He will be with me after the -- there he is. We will be talking to you about what the situation is and

getting a better understanding in a moment.

QUEST MEANS BUSINESS, live to you tonight from London.

(COMMERCIAL BREAK)

[16:42:16]

QUEST: U.S. diesel has soared to record highs under president -- persistent pressure of the Iran war. With average prices now hitting $5.85 a gallon on

Friday, and the costs can add up for the large ships trying to pass through the Straits of Hormuz. Despite this, an Iranian strikes in the strait, the

U.S. is claiming vessels with millions of oil barrels are getting through each day.

(BEGIN VIDEO CLIP)

J.D. VANCE, VICE PRESIDENT OF THE UNITED STATES: When the Iranians shoot at commercial shipping, obviously, that means some ships don't want to go

through. A lot of ships have gone through. We got about 15 million barrels out of the Strait of Hormuz just yesterday, despite the fact that the

Iranians continue to ship or continue to shoot, I should say.

(END VIDEO CLIP)

QUEST: Now, the International Maritime Organization says hundreds of ships and thousands of crew members have been stuck in the straits since the

conflict started in February.

Recently, they found that only a handful of ships each day have actually managed to leave. Marine traffic is showing a similar story over the last

24 hours. Many more vessels are standing still than making it through.

So, what was the vice president talking about?

Arsenio Dominguez is the Secretary General of the IMO, the International Maritime Organization, joins me now.

Secretary General, thank you for your -- for your time.

Well, come to the claims about how much oil getting out. How -- as best you know, how many sailors or marine employees are on board ships and have been

for an appreciable length of time in the Straits of Hormuz?

ARSENIO DOMINGUEZ, SECRETARY-GENERAL, INTERNATIONAL MARITIME ORGANIZATION: Since the conflict started, we still have around 6,000 seafarers on board,

approximately 400 vessels that have been trapped there since the beginning of the conflict. And, of course, we are not counting that some vessels have

actually traveled now westwards into the Persian Gulf. But the main concern remains those six 6,000 seafarers that have been trapped since the

beginning of the conflict.

QUEST: Now, the -- I mean, let sort of understanding that in some cases there will have been rotations off ships for some of them. But most of

those people are the original 6,000 that have been there throughout? Is that correct?

DOMINGUEZ: That is correct. Because even though there's been some rotational crew changes, as you have mentioned, that's still limited. We

have to remember that even for the vessels to move freely around the Persian Gulf and go into countries within the region that continues to be

affected by the conflict, it's a challenge. It remains difficult.

[16:45:06]

So, that's why not many seafarers also want to go and spend time in that region without knowing for when they are going to be able to sail freely.

QUEST: So, what's the vice president talking about yesterday when he says that pretty much as much oil is coming out now as before the war began. And

he is giving numbers that suggests millions of barrels are being moved every day.

Well, if those 400 ships can't move, what ships are moving all this oil?

DOMINGUEZ: What I can tell you is that since the moment that we have been tracking, and this is from the very beginning, right now, it's very limited

a number of vessels that actually go through.

Before the conflict started, it was around 135 vessels a day, all type of vessels. Of course, there is a large number of gas carriers in tankers that

actually transit the Strait of Hormuz.

Our numbers, which also can be comparable with other private entities that carry out this analysis shows that in the last couple of days, only 11

vessels transited each day, and that's the numbers that we actually can verify, taking into account that we also have to do an analysis because the

ships turn off their identification systems, and we can't see them until they actually have crossed.

But it's a very limited number of vessels that are transiting the Strait of Hormuz nowadays.

QUEST: Finally, the -- I want to come back to the seafarers because they are bearing the brunt, in a sense, not of the -- of the being essentially

imprisoned on their ships. I don't mean that literally, but you know what I mean.

And, of course, it's the mental anguish of it, and the loss of life, because some of them are losing their lives with the renegade warfare.

There is no end in sight here, is there?

DOMINGUEZ: Sadly, right now, it's very difficult to see an end in sight. And despite the fact that, you know, we always keep a very positive

approach with this, those seafarers have been trapped for nearly six months right now. The negotiations have stagnated. So, there is very little

progress, particularly at the high level at the root of the causes of this conflict.

And for that reason, the innocent seafarers continue to be affected. And in the long term, the longer that this goes, the more difficult it's going to

be for them to get the necessary supplies to carry out crew changes, and even to get other seafarers to go there and replace them.

You can only imagine also the mental health, the fatigue, and the stress that these people go through.

QUEST: Secretary General, you have a standing invitation to come on this program and talk about this as long as this crisis continues, sir. And we

hope you'll take us up on our offer because it's something we do not want to let people forget about.

Thank you for joining us tonight on QUEST MEANS BUSINESS.

DOMINGUEZ: Thank you.

QUEST: As we continue, many are expecting a far-right surge in this weekend's elections in Germany.

Fred Pleitgen has been speaking to one of the leading candidates in his report in just a moment.

(COMMERCIAL BREAK)

[16:50:00]

QUEST: Germany is voting this weekend, and the far-right is very much hoping it will hit a milestone and get its first state governor since World

War II.

Not everyone is happy about this move to the right.

CNN's Fred Pleitgen reports from Germany.

(BEGIN VIDEOTAPE)

FREDERIK PLEITGEN, CNN SENIOR INTERNATIONAL CORRESPONDENT (voice over): Despite the captivating grin, some believe this might be Germany's most

dangerous man. Ulrich Siegmund, candidate for the right-wing Alternative for Germany, or AfD, could soon become the first far-right state governor

in Germany since World War II.

The other parties have lost voters' trust, Siegmund tells me at a campaign rally.

For decades, they did exactly the opposite of what they promised.

I caught up with Ulrich Siegmund on the sidelines of an AfD event in Dessau, in the east German state of Saxony-Anhalt, ahead of this weekend's

election that Berlin's political establishment is watching with trepidation.

The AfD is miles ahead of all other parties in pre-election polls. The top issue by far, folks here tell me, immigration.

I asked Irina (PH) whether there is a bandwidth of issues or if immigration tops everything.

I think right now with the children, for me and the children, yes, it's immigration, she says.

The AfD openly calls for a mass deportation of undocumented foreigners and foreigners who committed crimes, a policy AfD chairwoman Alice Weidel

controversially calls remigration, cheered on at a 2025 campaign event by the self-declared AfD supporter, Elon Musk.

The federal government in Berlin ultimately decides immigration policy, but many Germans fear electing a far-right state governor could seriously

damage the whole country's reputation.

I can't imagine international investors turning up for groundbreaking ceremonies with an AfD state governor," German chancellor Friedrich Merz,

recently says.

At his rally, Siegmund tries to brush off those concerns.

There are many countries where people are seeking positive change with conservative parties that put national interests first and don't believe

they have to save the world, he says.

Here in the former communist east, Siegmund portrays himself as the common man's man, often riding an old East German scooter or displaying communist-

era Trabant cars at events.

But while his appeal is local, he makes no secret that the AfD's foreign policy agenda aims to change both Germany and Europe, weakening the E.U. in

its current form, seeking a return to close ties with Russia, while stopping all support for Ukraine.

We hope that starting from Saxony-Anhalt, we can usher in the beginning of the end of this crazy policy for all of Germany.

Only about 2.1 million people live in all of Saxony-Anhalt, one of the least populous states in Germany, but one that's drawing global attention

ahead of Sunday's vote.

Fred Pleitgen, CNN, Dessau, Germany.

(END VIDEOTAPE)

QUEST: The U.K.'s populist Reform Party has seen two senior aides step down as the party was preparing for its conference after an undercover

investigation by Britain's Channel Four television network claims to have found that reform arranged for a U.S. company to pay more than $30,000 for

political polls.

Reform says it will conduct an internal investigation, and the leader Nigel Farage maintains that no laws were broken.

(BEGIN VIDEO CLIP)

NIGEL FARAGE, LEADER, REFORM U.K.: I want to be clear, the party has done nothing wrong. The party has taken no illegal money. The party has taken no

money. That's important.

(END VIDEO CLIP)

QUEST: Now, Nigel Farage regained his seat in the parliament only weeks after stepping down. The two aides have denied wrongdoing. The video

released on Channel Four on the eve of the main conference shows or purports to show a meeting between Farage and a person wearing a hidden

camera posing a prospective foreign donor.

If true, an arrangement could breach British laws on political funding, which banned foreign donations. Although, as you heard Nigel Farage say

just then, he believes the party broke no laws.

John Rentoul is with me. The Independence chief political commentator.

And what's that famous line about, you know, one mistake is an accident, two risk of, you know -- you know what goes.

JOHN RENTOUL, CHIEF POLITICAL COMMENTATOR, THE INDEPENDENT: Yes.

QUEST: I mean, Nigel Farage has already been in trouble for having taken money. 5 million quid from a political donor. The party is enmeshed again

in this scandal.

I guess the issue is, does the electric care, if you believe they are the saviors?

(CROSSTALK)

RENTOUL: And now --

Now, the fact that speaking to Richard Quest, I think.

[16:55:01]

QUEST: No, you are speaking to Richard Quest. Can you hear me, John?

RENTOUL: Sorry. Sorry, Richard.

QUEST: Oh. (INAUDIBLE).

RENTOUL: Can you hear me? I'm here.

QUEST: I can hear you loud and clear. I'll ask you the question again. I'll assume you can hear me, John.

RENTOUL: Oh, good.

QUEST: Here is the question.

(CROSSTALK)

RENTOUL: I can hear you loud and clear, Richard. Yes.

QUEST: Does the electorate care, whether Reform -- good.

But does the electorate care whether Reform takes this money or not, or is this party, if you support it, you support it, come what may?

RENTOUL: Well, no. Because, I mean, the point is Reform has actually been sliding in the polls in recent months. So, there are -- there is a hard

core of support that will back Nigel Farage come what may, and will accept his version of events, which is that the party hasn't broken any laws.

Although, he then, did admit that some of his aides might have -- might have spoken a little injudiciously, as he put it, or perhaps,

injudiciously.

So, he wasn't completely saying that nothing wrong had happened, but there are a lot, lot more people who used to support Reform or who might consider

voting reform, who I think will be put off by the impression, at least, that the party was trying to get around the law on foreign donations.

QUEST: And the -- apparently, Reform might actually now be behind the Tories, which does suggest that Kemi Badenoch is doing a rather splendid

job from her party's point of view in shoving them back out.

She is a very impressive performer at prime minister's question time, and she is sort of grown into the position leader of the opposition and

starting to look prime ministerial.

RENTOUL: She really has. I mean, she had a very shaky start. A lot of grumbling about her leadership. It's all gone quiet now because she is

turned out to be rather popular with the -- with the voters who don't like her party very much.

I mean, the Conservatives have still got a long way to go to recover from their shocking defeat two years ago.

But she is doing well, and Nigel Farage is doing badly, which means that his hope, which --

(CROSSTALK)

QUEST: How much --

RENTOUL: -- which seemed quite -- sorry.

QUEST: No, no. No, I was just about to say briefly, how but -- how much of a hindrance is it for the -- for the prime minister is that he is unelected

as prime minister?

RENTOUL: Oh, I don't think that's a huge problem because he is actually relatively popular. He is -- he is the most popular of the -- of the party

leaders, actually. People, I mean, his opponents grumble that he hasn't got a mandate, but I think most people in this country understand how a

parliamentary system works.

He got into parliament, he is an M.P., and he is the leader of the largest party in the House of Commons.

(CROSSTALK)

QUEST: Correct.

RENTOUL: And therefore, he has no problem.

QUEST: I'm grateful to you tonight, John. Thank you. Have a lovely weekend, and we look forward to talking to you again soon.

And that's QUEST MEANS BUSINESS for tonight.

(CROSSTALK)

RENTOUL: My pleasure.

QUEST: I'm Richard Quest in London. Whatever you are up to in the hours ahead, I hope it is profitable.

I'm in Italy filming next week. But QUEST MEANS BUSINESS will come from Naples.

(COMMERCIAL BREAK)

END