we start here in the uk, where the bank of england has raised the cost of borrowing to its highest level in 13 years. the quarter of a percentage point rise, to 1.25%, was less than some were expecting. but financial markets are now betting uk interest rates will have to rise a lot further from here, to get control over soaring inflation. the worry is, too steep a rise in borrowing costs could tip the economy into recession. and the warning signs are already there. our economics editor faisal islam reports. on faisal islam reports. the outskirts of doncaster, a on the outskirts of doncaster, a successful business, the crown hotel, grappling with energy, food prices and wages going up at the same time that household income is being squeezed and now a relentless run of interest rate rises to hit some buyers on variable rate within hours. hit some buyers on variable rate within hours. with got a mortgage rate within hours. with got a mortgage and rate within hours. with got
base to 1 million active users. no small feat. the social media platform had 229 million daily active users according to its most recent quarterly results. mr musk s meeting with twitter staff came on the same day that a group of employees at another company he owns, spacex, denounced the flamboyant billionaire s behaviour as a distraction in a letter they sent to executives. let s get some reaction from daniel ives, managing director of equity research at wedbush securities in new york. dan, do you think by having this appearance and doing this video call he may have raised more questions than he answered? i more questions than he answered? more questions than he answered? ~ , ., , answered? i think this was the wron: answered? i think this was the wrong call answered? i think this was the wrong call at answered? i think this was the wrong call at the answered? i think this was the wrong call at the wrong - answered? i think this was the wrong call at the wrong time l wrong cal
this is bbc news with the latest business headlines for viewers in the uk and around the world. the highest interest rates in 13 years. but markets bet the bank of england will have to go much higher to control soaring inflation. recession fears stalk wall street, as the sell off resumes, with us shares closing sharply lower how the cost of living crisis is hitting people here in the uk. more than half tell a bbc survey they are cutting back on groceries or skipping meals. also coming up, the world s richest man and his plans to buy twitter. elon musk tells staff people should be allowed to tweet pretty outrageous things , as long as they are not illegal.
hear some comfort but he raised more questions, layoffs clearly on the horizon so that is why it is another head fracture for musk to do this call at this time. head scratcher. musk to do this call at this time. head scratcher. they have been time. head scratcher. they have been left time. head scratcher. they have been left in time. head scratcher. they have been left in the - time. head scratcher. they have been left in the dark i time. head scratcher. they| have been left in the dark over what it might mean for their futures. this was their first opportunity to see the man even if he was on a video call. what are they worried about? what are they worried about? what are they worried about? what are the main questions that seem to be coming up? stand are the main questions that seem to be coming up? and he came on ten seem to be coming up? and he came on ten minutes seem to be coming up? and he came on ten minutes late, i seem to be coming up? and he came on
twitter employees finally got a chance to meet face to face with the man who may soon be their boss and elon musk wasted no time getting his message across. asked why he loves twitter, the ceo of the electric car maker tesla gave an answer that helped explain why he chose to pursue the company, saying, some people use their head to express themselves. bia youth twitter. on the topic of free speech and content moderation, the musk said people should be free to say what they want so long as it is legal. but he said that that was not the same thing as promoting that speech and for those worried about losing their jobs, those worried about losing theirjobs, he didn t offer much reassurance, saying the company needs to get healthy and that exceptional employees had nothing to hear. as for his ambitions for the company, he wants to grow twitter s user