For a while yet if in the future at all, pointing to an unstable global Food Supply Pressurised by the war in ukraine. Now the price of food in the uk rose by nearly 17. 5 in the year tojune, which was actually a fall from a high of just over 19 in the year to march, following an overall drop in the wholesale price of food which you can see here peaking when russia invaded ukraine last year. It has been trending downwards. But prices are still much higher than before the war and have started creeping up again. Lets discuss this with Kona Haque Head of reserach at commodities house ed and f man holdings. Good to have you on the programme. Do you agree with the Chief Economist at the Bank Of England that actually high food prices are here to stay . I think at least for the sure term we still have got some pressures that will keep prices elevated. The factors globally, the stocks, global stocks of the stocks, global stocks of the grains, the staples such as grains and oils, and sugar, the
businesses groups in northern ireland have expressed hope over the windsor framework the new deal meant to simplify their post brexit trade with the rest of the uk. until now, some imports have been complex to manage others have been outright banned under the so called northern ireland protocol, intended to protect the eu s single market. the british prime minister rishi sunak has been in belfast to meet politicians and business leaders to build support for the framework. speaking to workers at one business, he said the new arrangements would help northern ireland become the world s most exciting economic zone with unique access to both eu and uk markets. if we get this framework implemented, we get the executor back up and running here, northern island is in the unbelievable special position, unique position in the entire world, european continent and having privileged access, not just to the uk home market which is enormous the fifth biggest in the world but also th
more now on the day ahead in the uk, and we could know as early as this afternoon who the next leader of the conservative party is and therefore our prime minister. as you ve been hearing, borisjohnson has pulled out of the contest, saying the time isn t right and would not lead to much needed party unity. this leaves two contenders former chancellor rishi sunak and the leader of the house of commons, penny mordaunt, with mr sunak currently the front runner. by 2pm this afternoon if penny mordaunt hasn t got 100 backers or more, then rishi sunak is in post. if both candidates are still in play, then mps vote to state their preference. let s take a look at how the markets are trading today during asian time. we have the dollar versus again, i was hoping to show you the pound but the detail is not on that particular screen, when i looked at it months ago the pound was buying just over $1 13 cents, fairly steady versus the dollar and up slightly versus euro. joining me now is
In the field, openai, has unveiled its latest chatbot called gpt lio. It has advanced capabilities, including seeing, hearing and talking in similar ways to a person. Our north America Business correspondent erin delmore watched the launch from new york. 20 years ago, the biggest Battle In Tech was over who would win the war for Search Engine dominance. Google took the prize and it isnt nowjust a multitrillion Dollar Company its also a verb. So now, enter the latest fight over who will lead on generative ai. The Start Up Openai took The Tech Sector by storm with its Chatgpt Chatbot in late 2022 that could answer users queries and carry out like human conversation. You are not a Vacuum Cleaner as of monday, we are seeing that conversation happened out loud. The company demoed a chatbot that can field questions and give out answers via voice. Ex hale slowly. In the demonstration, the chatbot was asked to help someone prepare for a presentation by taking calming breaths. That is it. How d
A day of dire warnings, tough talk and deadlines. Treasury secretary jack lew warned congress that failing to raise the debt ceiling would cause irrevocable damage to the economy. The republicans proposed raising the debt ceiling for six weeks. Meanwhile wall street, wow, a rocketshiplike ride today. The dow closing the day up 322 points. What a trading day. Mike viqueira is at the white house for us. And mike, to the extent you can, put us in the room. In about 30 minutes time the president is going to meet with House Republicans, what can we expect . It started today this morning. There is a glimmer of hope now tony. Its all vague, its all taking shape, but the stock market reacting to the fact that for the first time in how long has it been, some two weeks, there is some wiggle room now on both sides of this of the house gop and here at the white house as well. A lot yet to be decided. A lot up in the air at this point, but there is a possibility, glimmer of hope that the end is in