as you can see here, the rate of inflation in the uk has remained stubbornly high over the last few months adding pressure on the bank of england to raise interest rates again when it meets tomorrow. they re likely to be concerned that core inflation which excludes volatile food and energy prices actually rose hitting 7.1%. that s the highest rate since march 1992. bear in mind, the bank of england s target for inflation is 2% and its been falling in other countries. here s the uk finance ministerjeremy hunt. we don t have the clip at the moment. yael selfin is chief uk economist at the business consultancy kpmg and joins us from london. we heard from jeremy hunt earlier and he said it is a surprise, and it is one of their targets to get inflation down, but it is proving to be harder to do and easier to say. it is proving tricky and there are a number of reasons, one of which is we have a very tight labour market, tighter than in other economies, especially in europe,
and had promised as a benefit of leaving the european union. here s our global trade correspondent gharshini david with an explanation of what this means for britain. all hopes of that full trade deal which would have covered about a sixth of the uk puzzling over seed trade with the rest of the world with frankly some time ago because it was clear that the joe biden administration wasn t interested in pursuing that end and instead they have been noises for some time that we might get something that was more about an alliance against what was seen as external threats to economic security and also furthering ambitions of net zero. while this might seem like a bit of a pick and mix trade alliance if you like, little bit sheer when it comes to talking about protecting supply chains and a little bit here about making it easier to swap data between us and american firms and a little bit more here about green energy and nuclear. it s actually very much tied together and looking a
as the cost of living crisis bites? the most successful female golfer of all time, kathy whitworth, has died at the age of 83. she won a record 88 ladies professional golf association titles. hello and welcome to bbc news. a russian air base hundreds of kilometres from ukraine has come under attack for the second time in less than a month. the russian defence ministry says the engels base in the southern saratov region was targeted by ukrainian drones during the night. russia says it shot down the drones, but that three of its servicemen were killed by falling debris. the base is host to long range russian strategic bombers, the type of which have launched numerous missiles strikes on ukraine. from moscow, our russia editor, steve rosenberg, reports. caught on cctv. an explosion at a russian airbase. russia says it shot down a ukrainian drone but that three russian soldiers were killed. engels airbase is deep inside russian territory, hundreds of miles from the ukrainian bord
Rishi sunak pays tribute to the three british aid workers killed in the attack describing the deaths as an awful, awful tragedy as politicians in the uk call for an arms embargo. Dozens remain trapped in road tunnels in taiwan after the biggest earthquake there in 25 years. At least nine people have died, with more than 800 injured. And the president of botswana threatens to send 20,000 elephants to germany in a dispute over conservation. Time for a look at the Business News now. Good afternoon, a quick look at our top stories. Energy leaders are faced with multiple diverse challenges on the path to net zero. Amongst them are ensuring energy security, affordability and delivering wider economic goals right around the world. In particular, Global Energy systems are showing signs of deficiencies and strains everywhere. These are the findings of the 2024 World Energy Issues monitor, a Major International survey by the world energy council. Dr Angela Wilkinson is secretary general and c
economy wide response. screws and is good, discussion is good, the more people involved in taking action and engaging in taking action and engaging in climate change is better. the more private sector engagement in this issue, i think, is better than what we saw ten or 20 or 30 years ago when it was very government driven. iii when it was very government driven. ., . ~ ., driven. if we go back, at kop 27, is driven. if we go back, at kop 27. is loss driven. if we go back, at kop 27, is loss and driven. if we go back, at kop 27, is loss and damage - driven. if we go back, at kop 27, is loss and damage fund| 27, is loss and damage fund was a for richer countries to pay poorer countries suffering the impact of climate change, how do you see that working out, that has been one of the numerous sticking points? i think private sector needs to get more engage in loss and damage as well. it is just one section, it would help society, insurance needs to be more engaged, issues reg