vimarsana.com

Card image cap

By an israeli airstrike. The Israeli Military has denied responsibility, saying the blast was caused by a failed rocket launched by the gaza based Militant Group Palestinian Islamic jihad. Us President Joe Biden is currently travelling to israel, but a planned Summit Injordan with arab leaders has now been cancelled. Biden� s visit is designed to further demonstrate americas support for israel. The white house is saying the us is optimistic about getting humanitarian aid into gaza. On our website we have a live page that is constantly updating with the latest developments but now lets focus on the top Business Stories. Here in europe in a few hours we will be getting a clearer picture on where inflation is headed. For the uk and eurozone the latest data is out today and its hoped the cost of living crisis will continue to ease. In the uk the rate of inflation slowed to 6. 7 in the year to august. For the eurozone the latest estimate has inflation hovering around 4. 3 . For Central Banks now is a critical time do they need to keep increasing Interest Rates to cool demand or do they risk triggering recession . Joining me now is wei li, global chief Investment Strategist at blackrock. Good morning to you. If we start with the uk, do you expect inflation to come down again in the month of september . I again in the month of september . Again in the month of september . Again in the month of setember . ,. , september . I would say first to acknowledge september . I would say first to acknowledge that september . I would say first to acknowledge that uk september . I would say first to acknowledge that uk inflation l acknowledge that uk inflation has come down a lot and that has come down a lot and that has been driven by a Mismatch Unwinding as we come out of the pandemic. But if the us Inflation Basis is anything to go Inflation Basis is anything to 9 by Inflation Basis is anything to go by the Inflation Rollercoasters likely going to be the case across other economies so of course continue misalignment between pandemic� s goods but we are also seeing some of the structural constraints and the Labour Supply side, that could come into bind and push Inflation Higher so Inflation Forecasting is hard to do month to month, it is volatile but inflation has come down a long way and there could be more to go but expect further volatility ahead and that should fit into the Bank Of England calculations. As you say inflation has come a long way down from over 11 to 6. 7 and currently, we will see what the number today is but it is still a long way from the target of 2 for inflation. Yesterday we saw uk wages going up yesterday we saw uk wages going up at an annual rate of 7. 8 betweenjune and the end of august so, you know, to a degree people may be feeling slighter better off. Do you think the bank still feels it has a job to do to cool demand . We definitely feel that we are nearing peak rates and wait and see given how high rates have already risen it could be the next step. Instead of focusing on an additional hike or not, the focus is going to shift from how high to how long because we are in the environment of Supply Constraints and when that is the case Central Banks are likely going to stay tighter and higherfor longer. A and higher for longer. A tighter and higherfor longer. A tighter bias given the under flaying that make underlying inflation pressure. That is the result indeed have a Labour Market relying on constraint which is not something we could resolve coming out of the pandemic. So we are definitely getting close and nearing, if not already but from here on Central Banks are likely going to stay close at peak rates for quite a lot longer compared to previous economic cycles given a world shaped by supply and the underlying pressure. It also applies to the fed as well. ~ ,. , also applies to the fed as well. ~ ,. , also applies to the fed as well. ~ ,. , well. Thank you very much for that. Well, what is happening in the worlds second largest economy china is pivotal when it comes to the Global Economic outlook. And weve just had the latest Growth Numbers from china showing in the Third Quarter it did see growth of 4. 9 . This comes as china grapples with an unprecedented property crisis that has Hit Consumption and Business Activity in the country. Its recovery from covid has been sluggish and it has high youth unemployment. Many headwinds. Todays news is better than expected though and comes as president xi hosts the belt and road forum in beijing with World Leaders gathered to celebrate ten years of the programme. Well have more on that later in the programme. But lets now focus on the Growth Numbers withjulian evans pritchard, head of china economics, capital economics. Your take on the number today. It is better than most were expecting innit and of course it is very close to the beijing authoritys target of 5 growth. Authoritys target of 596 urowth. ,. , growth. Definitely a Positive Outcome growth. Definitely a Positive Outcome. Obviously growth. Definitely a Positive Outcome. Obviously yearonyear outcome. 0bviously year on year growth is still slow but that was basically a given given growth in 02 was flattened by the shanghai lockdown a year ago. If we focus on other growth we see a sharp acceleration in 04 at three. Two levels that are consistent with the annual targets. 0bviously with the annual targets. Obviously there is some scepticism about how accurate the official data are and we do have our own doubts. We have an in house Alternative Measure that points to slightly weaker but even on Alternative Data we see clear sky that make signs of a point with growth starting to weaken to re gain momentum. To weaken to re gain momentum. To weaken to re gain momentum. � , , momentum. And everybody is relieved about momentum. And everybody is relieved about that momentum. And everybody is relieved about that because i momentum. And everybody is relieved about that because if| relieved about that because if there was a chinese slowdown for various reasons that would be a problem for the global economy. A time when most economies around the world are facing serious challenges. That is definitely facing serious challenges. That is definitely the facing serious challenges. That is definitely the case. Facing serious challenges. That is definitely the case. I facing serious challenges. Twat is definitely the case. I think a lot of the feedthrough from the chinese economy to the rest of the world is through chinas investment, particularly property and Investment Infrastructure and the news on that front is not quite so positive yet. We still see relatively sluggish investment in those areas and a lot of the recent improvement has actually come from the Consumer Sector which is a good thing for the China Economy where we see some rebalancing away from investment but in terms of chinese demand for what the rest of the world produces it is not quite as positive a development. Having said that, despite the continuing weakness there were green shoots in the day today. We saw the stabilisation and home sales recently thanks to some Easing Measures so i think we could see a bit of relief through the Housing Market over the next few quarters and that will definitely be a positive for the rest of the world as well. Thank you very much, julian. Lets have a look at what the markets are doing at the moment because there is so much going on that will impact. Trade, the price of oil, brent crude is up over 2 . Price of oil, brent crude is up over2 . No price of oil, brent crude is up over 2 . No surprise at all. Just under 92 a barrel. Concern about what is happening in israel and gaza and of course what iran may do next and the impact it could have on supply of oil is very much on the mind of investors. Muted markets. Wall street had relief about the chinese Growth Number that came through. As far as wall street is concerned, again it is flat and a mixed picture. The season is kicking off in earnest with results later today from tesla and netflix but we also heard from some of america biggest. Lets discuss this with mark 0stwald. Good morning, mark. No surprise at all to see the All Pro Spiking right now. All to see the allpro spiking right ow right now. After the Missile Attack that right now. After the Missile Attack that hit right now. After the Missile Attack that hit that right now. After the Missile Attack that hit that hospital| attack that hit that hospital in gaza and the cancellation of the summit between arab leaders and President Biden the concern is that this situation is going to escalate even further which may impact oil, certainly probably even more so gas markets. It is a Knee Jerk Reaction at the end of the day in the background. Everyone is more than aware that there is plenty of supply around even if there are some restrictions on what is coming out of iran. We have increased supply from venezuela and if prices go to high saudi arabia can always turn the taps on a little more. But it is extremely concerning what is going on in israel and gaza and the consequences following this devastating attack on a hospital, all sides deny responsibility for that. But investors are watching nervously, arent they . At the same time we have had a lot of Economic Data and we are waiting on Inflation Levels in the uk in the eurozone. Strong retail sales out in the United States as Well Yesterday and everyone is trying to weigh this up arent they . The implications. This up arent they . The imlications. ~. , implications. We have a problem i think in financial implications. We have a problem i think in Financial Markets i think in Financial Markets with the us economy. It has been the case that pretty much for the whole of the last year everyone has been, basically, behind a mantra of the us is going to go into a recession. That still hasnt happened and at regular intervals we are fed more data showing that the us consumer is going down and Industrial Production data yesterday was robust and the Housing Market unsurprisingly is the one clear weak point and no question about that with the Housing Index falling further yesterday. But it is still higher than it was six months ago. But i think it is this continued momentum there. Much of it being driven, actually, by inflation reduction act, the riaa and the chips act which is stimulating the production of microchips in the United States and they are all having a marked impact on employment and on overall demand. On overall demand. Thank you for our on overall demand. Thank you for your time on overall demand. Thank you for your time this on overall demand. Thank you for your time this morning, i for your time this morning, mark. Lets now squeeze in some other Business Stories. Tesla is recalling nearly 55,000 model x vehicles which were manufactured between 2021 and 2023. The vehicles could have failed to detect low levels of brake fluid, according to a us auto regulator. No crashes, injuries and deaths have been linked to the failure, and tesla has released a Software Update to fix the issue. Its Earnings Season in the us and Investment Bank Goldman Sachs reported that its net profit fell by more than 30 percent in the Third Quarter. That marked its eight straight drop in quarterly profit. However, the bank said it was seeing a Recovery In Dealmaking which grinded to a near halt in 2022, with uncertainty from the war in ukraine and rising Interest Rates. High stakes diplomacy in beijing president xi jinping welcomes State Leaders in chinas capital at a challenging time for the worlds second largest economy. Around the world and across the uk, this is bbc news. Voiceover bbc, bringing you different stories from across the uk. Lunchtime in Bristol City Centre and youd think this is the only Sandwich Shop in town. Business is brisk and they are queueing out the door. Its not hard to see why. Its queueing out the door. Its not hard to see why. Hard to see why. Its so good. Also the hard to see why. Its so good. Also the money hard to see why. Its so good. Also the money wide. Hard to see why. Its so good. Also the money wide. Dom i also the money wide. Dom acquires. Eight word for that, cant go wrong. Acquires. Eight word for that, cant go wrong acquires. Eight word for that, cant go wrong. Noone needs convincing cant go wrong. Noone needs convincing about cant go wrong. Noone needs convincing about the cant go wrong. Noone needs l convincing about the sandwiches but in case they did, this business is now officially the best, crowned the winner of the uber eats restaurant of the year award. Uber eats restaurant of the yearaward. Presented uber eats restaurant of the year award. Presented tojosh and his family at a star studded event in london with top chefs. It starstudded event in london with top chefs. With top chefs. It was fantastic. With top chefs. It was fantastic. Watching. With top chefs. It was fantastic. Watching monica and peru on the team when im younger, im only 23 now, it was an experience, everyone was so was an experience, everyone was so welcoming and lovely. Test a so welcoming and lovely. At a time when so welcoming and lovely. At a time when we so welcoming and lovely. At a time when we mainly so welcoming and lovely. At a time when we mainly report on closures in the hospitality industry, this is a refreshing change stop. Voiceover for more stories from across the uk, head to the bbc news website. Hello again. Youre live with bbc news. Well come back to the top Business Stories in a moment, but first let me update you on the latest developments in gaza and israel. There has been International Condemnation as hundreds of palestinians are feared dead following a huge blast at a hospital in gaza city. Some 4,000 displaced people were seeking refuge at the al ahli hospital. Hamas Health Officials say the hospital was hit by an israeli air strike. The Israeli Military has denied responsibility, saying the blast was caused by a failed rocket launched by the gaza based Militant Group Palestinian Islamichhad. Us President Joe Biden is currently travelling to israel, but a planned Summit Injordan with arab leaders has now been cancelled. Bidens visit is designed to further demonstrate americas support for israel. The white house is saying the us is optimistic about getting humanitarian aid into gaza. We will have the very latest at the top of the hour on that and also our website is updating constantly with a live page. Over the next two days, we have special coverage of chinas belt and road investments in asia. We start today, with sri lanka which has been one country where bri projects have had mixed success. 0ur India Business correspondent, Nikihl Inamdar, joins us from colombo. Nikhil, belt and road projects have been accused by some as being debt traps by china. Whats the experience been in sri lanka . It is really been a mixed legacy here in sri lanka. Largely speaking, this whole Deathtrap Theory has been debunked by several International Economists and several studies that have been done independently and what we have been seeing here in sri lanka is that there is certainly some good projects, so the Colombo International Container Port behind me is considered one of those good projects on the bri and then the projects that have done sour. There are number of reasons why projects you have done so including things such as Revenue Projections going out of work, being inflated in the first place, or things like the first place, or things like the location has not been really conducive for these Juice Tunic Routes that bri is known for and in fact visited one of the projects that have done sour, a Port On The Southern Tip of sri lanka, and look at what we have found. This is a port on the southern sri lankan tip, often held up as an example of everything thats gone wrong with chinas belt and road initiative, started in 2010 but quickly sri lanka enlisted to china for 99 years because it was not generating enough revenue for them to repay the debt. This led to allegations that colombo was actually having to cede control over a Strategic National asset. And then there is this. The airportjust a few kilometres away. Its another example of a bri project thats born wrong and often called the mts airport in the world as the capacity to handle about 1 million passengers but in reality its only about 10 of that every year. For all the failures of the bri has delivered significant successes in sri lanka as well. But Colombo International Container Terminal is one example. Also half the countries expressways are either built or funded by china. And these investments came in at a crucialjuncture. These investments are useful to complement sri lankas Economic Development after the end of the war, but sri lanka did not properly do industrial Master Planning to help the projects deliver proper rates of return. Second, chinas policy banks push the money i sri lankan bureaucracy that did not have the capacity to evaluate them properly. The capacity to evaluate them ro erl. �. , the capacity to evaluate them roerl. �. , properly. And that was someone who spoke properly. And that was someone who spoke to properly. And that was someone who spoke to me properly. And that was someone who spoke to me earlier properly. And that was someone who spoke to me earlier and who spoke to me earlier and told me he does not really expect more fresh bri leading to happen to sri lanka over the next five years as the country really restructu res a next five years as the country really restructures a lot next five years as the country really restructu res a lot of its earlier date with china. Some other countries have soured on bri. Some other countries have soured on bri. Weve heard reorts soured on bri. Weve heard reports that soured on bri. Weve heard reports that italy soured on bri. Weve heard reports that italy had soured on bri. Weve heard reports that italy had to soured on bri. Weve heard reports that italy had to getj reports that italy had to get wants to get out and that really does tell you that the next ten years of bri are unlikely to be like the past ten years at bri. The projects are expected to take a longer time to execute, that the sizes would be much smaller and they could be more environmentally friendly because that has been one major concern about the bri projects but certainly as weve seen at that conference happening in beijing right now, it is still a force to reckon with with about 1 trillion in landing and some 130 odd countries in attendance. Thank ou so countries in attendance. Thank you so much Nikihl Inamdar in colombo. We are keeping across whats happening in beijing where president she is hosting events. You saw that President Putin is there and were keeping across those days they go. Us Tech Companies are being impacted by deteriorating us china relations. This is something mark mentioned earlier when we discussed markets. Chipmaker nvidia is usually a Star Performer on the s p 500 but on tuesday, it was one of the worst performers on the index. The bbc� s erin delmore has more from new york. If this sounds like a familiar it is because the Us Commerce Department announced export controls on ships last october. The new measures aimed to close loopholes that become apparent sense. But the aim has not changed. The goal is to keep china from receiving advanced technology from the us strengthens militarily. And it is broader than in the past. Total not only advance chips designed by nvidia but also others as well as Chip Making Tools and it targets not only china but also iran and russia. It also blacklists to chinese chip designers. The row speaks to two major issues. One is the value generated ai and the importance of the chips that power that tac and screaming up, long simmering tensions with china and the biden administrations commitment to entertaining, containing china militarily without hurting it publicly. A spokesperson for the Chinese Embassy says it firmly opposes the restrictions and a Semiconductor Industry association criticised as overly broad, unilateral controls that was coming the Us Semiconductor ecosystem without advancing national security. And that it would encourage overseas customers to look elsewhere. The rules going to affect in 30 days. Aaron bell more than on the plight of us chip stocks. They have had a very rough ride on the markets on tuesday on wall street. The president of guayana, irfaan ali, has told the bbc that his country is enjoying a lot of transformation and investment after the discovery of big volumes of oil eight years ago. He also said Production Deals struck with exxon and its partners were not the best for guyana, but that those contracts would be respected. Speaking to the bbc� s gideon long, he explained how the country had changed in recent years. The country at this moment is in transformation gear. There is a lot of energy, a lot of infrastructure work, a lot of investment and education, in health, investment in housing, and a lot of private Sector Investment in the early art of shorebased facilities, a number of hotels being constructed, apartment buildings, apartment complexes, so there is been tremendous shift in terms of amendment. Tremendous shift in terms of amendment. , amendment. What are your plans, particularly amendment. What are your plans, particularly your amendment. What are your plans, particularly your plans amendment. What are your plans, particularly your plans in particularly your plans in terms of 0pec . I read this week there was a discussion about whether Guiana Mightjoin it. Whether guiana might join it. At whether Guiana Mightjoin it. At this moment a decision is very clear. We are in no rush tojoin 0pec. It is not part very clear. We are in no rush to join 0pec. It is not part of our priority for our policy at the moment. We want to be Global Leaders and energy, climate, the environment, and in food security. In all three of these areas we have distinct advantage competitively, the content of freshwater that we have, parable land, and the kind of Trade Agreement that allows us to have good trade arrangements within the region once we develop our agricultural sector. Those big oil deposits agricultural sector. Those big oil deposits that agricultural sector. Those big oil deposits that we agricultural sector. Those big oil deposits that we started l oil deposits that we started talking about, they were discovered before you came to power and some critics have said the previous government when they signed those contracts with exxon and its partners were too generous, did not give a good deal for guyana and gave will hodges cheaply. I would say they have not had the best abuse. The deal could have been better for guyana. Best abuse. The deal could have been betterfor guyana. Exxon been better for guyana. Exxon had been betterfor guyana. Exxon had a deal with the last government but for us we have to understand that we are part of a global community. He sanctity of contracts is very important. We cannot go back at that. ,. ,. ,. ,. , that. There no negotiation of those contracts . That. There no negotiation of those contracts . For that. There no negotiation of those contracts . For the those contracts . For the investors those contracts . For the investors and those contracts . For the investors and future those contracts . For the investors and future investors, we cannot go back to renegotiate. President of gu ana renegotiate. President of guyana speaking renegotiate. President of guyana speaking to renegotiate. President of guyana speaking to the l renegotiate. President of i guyana speaking to the bbc about investments in the country that have been a positive and a negative. You are with bbc news. Keeping across the latest developments, this is because geyser this morning. Geyser this morning. Hello, there. Its been a fine start to this week, but things are set to turn more unsettled, very autumnal, and even quite stormy as we see strong winds, gales and Heavy Rain Spreading Northwards across the uk. So some of this rain and strong wind likely to cause some disruption towards the end of the week. Now, its storm babet, which the met office have named, will be pushing northwards during wednesday, wednesday night, across the uk, then parking itself across the north of the uk for thursday and friday. So Rainfall Totals really will be mounting up, and i can show you this, in fact, on the Rainfall Accumulation Anomaly you can see all areas seeing a lot of rainfall, but its eastern scotland, parts of Northeast England that bear the brunt. Some of the heaviest of the rainfall sits here, where we have some concerns with the risk of some localised flooding. But because of the recent flooding across scotland, the ground is saturated, the met office have issued an Amber Warning for this east northeast corner. Could see up to 150, maybe 200mm of rain by the time the weeks out. That could cause some disruption. Wednesday starts off fine for many central, northern, eastern areas, plenty of sunshine. It will be windy, mind you. Rain starts to pepper northern ireland, and then southern britain, first signs of storm babet pushing in here later on wednesday. Some of this rain could be quite heavy and thundery, but strong and gusty winds for all areas, even though it will be quite mild, 14 to 16 degrees might not feel like that because of the strength of the wind. Storm babet continues to move northwards across the uk during wednesday night, parks itself across northern england, northern ireland, southern scotland. That starts thursday morning, some showers pushing into southern areas later on. It will be a mild night to come. This is the Pressure Chart then for thursday looks like the Weather Front will be hanging around across northern and eastern scotland. Rainfall totals really mounting here, strong gale force winds, particularly for the Northern Isles and north sea coasts here. Further south, itll be a mixture of variable cloud, some showery bursts of rain, some of which could be heavy and thundery, but mild, despite the wind and the rain 15 to 18 celsius. Similar story, as we head into friday it looks like the northern half of the country will see the heaviest of the rain. Again, Northeast England could bear the brunt of the heavy rain on friday. Elsewhere, its clear spells, but also a mixture of showers, some of which could be heavy and thundery. Again, mild in the south, cooler in the north. See you later. Good morning, welcome to breakfast with sally nugent and jon kay. 0ur headlines today. At least 500 people are feared dead after in an explosion at a hospital in gaza. Both sides in the conflict blame each other for the blast. Joe biden is on his way to israel, but the palestinian and egyptian president s have cancelled planned talks with him in the wake of the blast. 17 years in prison for a crime he didnt commit Andrew Malkinson speaks to us about his long fight forjustice. Its all about numbers and targets, not its all about numbers and targets, noliust its all about numbers and targets, not just out of his Community Gym in newcastle not just out of his Community Gym in newcastle this morning, but also when newcastle this morning, but also when it newcastle this morning, but also when it comes to inflation. We get ofthe when it comes to inflation. We get of the september when it comes to inflation. We get of the september figure when it comes to inflation. We get of the september figure today when it comes to inflation. We get of the september figure today and j when it comes to inflation. We get l of the september figure today and i will explain why it is so important for pensions and benefits. In sport, england have qualified for next years european championship. Harry kane scores twice as his side beat italy 3 1 at wembley. Good morning. Storm babet is coming our way today, bringing Heavy Rain In The South and west. For the rest

© 2024 Vimarsana

vimarsana.com © 2020. All Rights Reserved.