Built at the gravity Business Park in somerset by Jaguar Land Rover owner tata. A major shot in the arm for the uks Electric Car Making Ambitions the new plant is expected to create 4,000 jobs and thousands more in the wider supply chain. Tata are putting up £4 billion for the site with the government expected to provide hundreds of millions of pounds in subsidies. Lets discuss this with former Racing Driver and motoring journalist amanda stretton. We are increasingly in a difficult position, we experienced what it difficult position, we experienced what it was difficult position, we experienced what it was like having supply chain issues after covid with Chip Shortages that was experienced worldwide. This is one really important step in securing the supply chain for electric Vehicle Production in the uk. Creating hundreds and Hundreds Ofjobs which is wonderful. Putting the uk back on the reading for when it comes to moving into an electrified low carbon future. You say a wedding but we are so far behind, arent we . If you look at china some of the other markets the us of course, we are just beginning compared markets the us of course, we arejust beginning compared to industries that have been going for decades . China has had a stranglehold on battery production. China has had a stranglehold on battery production. They control most of the elements that actually go into batteries as well. We are increasingly seeing is the us catching up dramatically. This was very much helped by the slightly controversial ira bill that biden signed a couple of years ago, so that has really given a real shot in the arm to american production, and that is now ramping up, and europe as well. It is a little bit late. We are certainly late to the party but i dont think we should let that put us off. And hopefully this is just going to be the start of maybe some more investment. The uk is in a difficult position stop we dont have the strongest, the biggest Car Production throughout the rest of europe. 0bviously throughout the rest of europe. Obviously there are all sorts of political reasons for that as well but it is a really important and vibrant industry, and i think this isjust a fabulous step. I am so happy that this has finally crossed the line. ~ ,. , the line. Talk us through the a etite the line. Talk us through the appetite for the line. Talk us through the appetite for electric the line. Talk us through the | appetite for electric vehicles. There is demand there but it is still a lot of concern for what it means if you get an electric vehicle, will you be able to charge, all the various Stress Points and the infrastructure in place provided by the government. It in place provided by the government. In place provided by the government. In place provided by the covernment. ,. , government. It is definitely a difficult battle government. It is definitely a difficult battle getting government. It is definitely a j difficult battle getting people across the line when it comes to atvs. There is still a lot of reticence. A lot of confusion, a lot of worry. I think the appetite is there. I was very just think the appetite is there. I was veryjust disappointed when the government decided to relax the ban on internal combustion engines evs. I thought it was very ambitious and forwardthinking. Infrastructure is taking time to catch up. I have been driving a ev, i have no problem with it. It takes different thought and planning when you are arranging yourjourneys. Thank you good to talk to you this morning. Amanda with her take on that big event taking place later today in sommerset. Lets stay with electric vehicles. The Tech Giant Apple is abandoning its decade long effort to build its own electric car. According to reports, The Tech Giant wants to instead ramp up efforts on its Generative Ai projects. From new york, heres our north America Business correspondent Michelle Fleury. Apple started out with lofty ambitions. Foryears, it was rumoured that it wanted to build its own electric car. Without a Steering Wheel or any pedals. A True Driverless experience. But after spending billions of dollars on the decade long project, it now appears the iphone maker is abandoning it altogether. We reached out for comment but we havent heard back from them yet. The team working on the project were told the iphone giant were shifting its focus ai. 0ne giant were shifting its focus ai. One of the people who worked on the car will be moved to apples Artificial Intelligence division. That is according to bloomberg. While those who cant find jobs elsewhere in the company face layoffs. Apple shares rose nearly 1 on the news is one tech analyst put it, by abandoning its stream to transform the Auto Industry it will increase pressure on apple to do something profound in the area of Generative Ai. That is Michelle Fleury of course. To brazil now, where Central Bank President s and ministers are gathering from the 620 group of nations. Theres a lot to discuss at the two day meeting with brazils president , Luiz Inacio Lula da silva, putting inequality and poverty, as well as Climate Change at the top of the agenda. But so far making the headlines is the war in ukraine, with the us Treasury Secretary calling for a united front to back setting up a fund for ukraine, using billions of dollars� worth of frozen russian assets. I believe there is a Strong International economic and moral case for moving forward. This would be a decisive response to russias unprecedented threat to global stability. And it would make clear that russia cannot win by prolonging the war and would incentivise it to come to the table to negotiate a just peace with ukraine. Table to negotiate a ust peace with ukraine. For more on this, joining me now is ali wyne, Senior Research and advocacy advisor, us and china, at the think tank the International Crisis group. Good to have you on the programme. What do you think of that idea . ~ programme. What do you think of that idea . , ~ ,. , programme. What do you think of that idea . ~ ,. ,. That idea . Thank you very much for having that idea . Thank you very much for having me. That idea . Thank you very much for having me. The that idea . Thank you very much for having me. The immediate l for having me. The Immediate Reaction is that the g20 we are talking about right now, what we have seen increasingly in recent years is that rather than serving as a co ordinating mechanism, it starts to amplify political divisions between china and the United States or russia and the west more broadly. The proposal has been gaining traction steadily both in the United States of course and also among certain countries in europe, but there are still pushback in europe and i think once we talk about the broader g20, pushback will grow more pronounced. The broader 620, pushback will grow more pronounced. The broader 620, pushback will grow more pronounced. There is bound to be grow more pronounced. There is bound to be pushback because l grow more pronounced. There is| bound to be pushback because as you say across the board there isnt the unity on so many of these issues. What will they achieve over the next few days . I think all eyes are going to be on brazil which has the rotating presidency of the g20 this year, and like india, which held the rotating presidency of the g20 last year, i think brazil will use its presidency to spotlight issues concerning to brazil and other countries, whether it is inequality, pandemic preparedness, Climate Change, food insecurity, a range of other issues. And i think our expectations should be modest in light of these political frictions, but we will see greater attention being paid to concerns that have a greater share of the global population. 0n climate, what do you think will be achieved . As you say, brazil is hosting this, which is a key country in the battle against Climate Change. I think the expectations, against Climate Change. I think the expectations, again, against Climate Change. I think| the expectations, again, should be modest, but brazil of course has championed the cause of fighting against Climate Change, has been a leading voice not only among developing countries, leading voice globally in the fight against Climate Change. Certainly, i would imagine we would seek considerable momentum behind discussions around greater Climate Finance for developing countries, i think brazil will use not only this particular meeting, but the duration, the remainder of his g20 presidency to call for greater action against Climate Change. Even if there are concrete deliverables that come out on this particular meeting, greater rhetorical urgency around flight fighting Climate Change, and drawing further attention to that issue. Good to net attention to that issue. Good to get your attention to that issue. Good to get your take attention to that issue. Good to get your take on to get your take on that meeting. Thank you forjoining us. Lets now focus on news coming out of china. Its more bad news for the embattled Property DeveloperCountry Garden as they face a liquidation petition. We have mentioned them on this programme several times. This comes after the real estate giant was ordered to liquidate by a Hong Kong Court last month. Suranjana tewari is in our Asia Business hub for us with the details. Another blow for chinas property sector. Everyone willing the sector to try and revive so that the economy can improve as well, but it is still struggling for cash, clearly. Here is what we do nobles of a Company Called ever credit which is a creditor filed the petition to wind up to a Hong Kong Court against Country Garden for non payment of a loan worth 205 million. Now, it had earlier given notice to the company back in october when the Company Actually defaulted on a loan, but this is the next legal step. Country garden told the Hong Kong Stock Exchange about it, that is part of the regulations are being listed on the exchange, and said it would resolutely oppose the petition. The Court Hearing has been set for may 17 so we will hopefully find out more. This is really already set off a chain of events. Country garden shares fell more than i2 in early trade on the hang seng index. That will only add to concerns about chinas debt crisis and the property sectors debt crisis. In china, beijing is trying to ramp up efforts to boost confidence in the industry will stop it is a huge industry. All the businesses feeding into it, or the interior designers, the cement mixers, the suppliers, they account for up to a third of chinas gdp, and this comes just a month after ever grand, chinas with indebted developer with 300 billion in liabilities, was ordered to be liquidated by a Hong Kong Court. It now faces a complicated restructuring process which could last up to a decade, and i am afraid it looks like Country Garden would be going in the same direction evergrande. They obviously will try everything they can to avoid the same fate. Will try everything they can to avoid the same fate. Thank you so much Around The World and across the uk, this is bbc news. Bringing you different stories from across the uk. Hair salons had to close from across the uk. Hair salons had to close during from across the uk. Hair salons had to close during the had to close during the covid19 had to close during the covid 19 pandemic. Those with insurance policies including this one in nottinghamshire for the Insurance Companies would pay out to cover their losses. But they kept refusing. 0ur bills just but they kept refusing. 0ur billsjust didnt stop but they kept refusing. 0ur bills just didnt stop because covid came in because the government close us down. If anything, we still had all of our bills, we had to pay our insurance premiums every month. Under the salons have won their legal case and insurers will have to pay. Legal case and insurers will have to pay legal case and insurers will have to pay. Delighted. You know what. Have to pay. Delighted. You know what, i have to pay. Delighted. You know what, i will have to pay. Delighted. You know what, i will say have to pay. Delighted. You know what, i will say i have to pay. Delighted. You know what, i will say i am l know what, i will say i am relieved. Know what, i will say i am relieved know what, i will say i am relieved. While it is a legal victo , relieved. While it is a legal victory, there relieved. While it is a legal victory, there is relieved. While it is a legal victory, there is a relieved. While it is a legal| victory, there is a problem. Insurers want to deduct the amount government paid to staff on Furlough Payments from what they agreed to pay to salons. The Largest Insurance Company for the personal care sector called copious that it welcomes the claridges arbitration brings and will abide by the decision in apply to all the relevant policies and claims. For more stories from across the uk, head to the bbc news website. ,. Youre live with bbc news. Im sally bundock. Lets have a look at the us economy now, which has been going at quite a pace weathering economic headwinds, delivering a steady pace of growth with inflation easing. So, sounds good. This has led many investors to bet on that central bank may begin lowering Interest Rates in the summer delivering a soft landing for the economy. But could this all be Wishful Thinking . According to the boss of Banking Giant goldman sachs, it might be, warning of a high level of uncertainty. Joining me now is mark 0stwald, Chief Economist at investors adm isi. Good morning to you, mark. We are talking about David Sullivan here who was speaking at an event yesterday where he said the world is set up for a soft landing but there is a high level of uncertainty. Due to remaining Inflationary Pressure in the economy and geopolitical risks. What do you make of his comments . I wouldnt disagree with him to be quite honest. What we are facing at the end of the week is the possibility of yet another Us Government shutdown, Thatis AnotherUs Government shutdown, that is one uncertainty. The tensions in the middle east are very clearly there. And there is a lot of uncertainty about things which actually are driving. Underpinning us growth. Above all, the fate of the Inflation Reduction Act or ira, and the chips act, in the context of the us election. There could be substantial changes that has been a key driver. So, yes, iwould definitely agree with him that there is an air of complacency. He was pointing out that the start of this year, markets were pricing in seven Interest Rate cuts this year in the us. It is saying that has now changed, expectations have moved to four maybe this year. Do you have a number in your head as to how many and how far . I head as to how many and how far . ~. ,. , far . I think it would be a good idea if peeple far . I think it would be a good idea if people actually far . I think it would be a good idea if people actually fixated | idea if people actually fixated less on how many Interest Rate cuts they think we are going to have stopped i think the more important point is in terms of Interest Rate cuts, we actually havent had an Interest Rate cut cycle since the 90s, it was actually driven by the economy as opposed to financial instability. That is really quite remarkable. Everything else has been a case of that. So it is very difficult for markets to actually judge so it is very difficult for markets to actuallyjudge why they would cut, because at the moment really the message from the fed is very simple. There is no need to cut. They are right. There is no need to cut. The economy is performing reasonably well, the Labour Market is extraordinarily tight, inflation is coming down. ~. , down. Mark, good to get your take on those down. Mark, good to get your take on those comments. Down. Mark, good to get your i take on those comments. Thank you very much. To tech n