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view from earth s orbit. and there are plenty of things that have that view these days. a couple of space stations and thousands of satellites. and more and more companies want to put stuff up there. did you know that the closer you are to the equator, the easier it is to get things up to the right speed to go into orbit? ah! that s because that s where the earth is spinning fastest. so as you launch, it gives you an extra whang. and that s why the uk spaceport is way down south in cornwall. yeah. and that s why it was there earlier in the year that virgin orbit attempted the first satellite launch from uk soil. the uk s first functioning spaceport is here in cornwall. we re creating a huge cluster of space technology. - the global value of the space economy is somewhere in the region of $360 billion. to the uk, it s {16.5 billion every single year. newquay airport usually hosts small passenger and private aircraft. it s now home to spaceport cornwall. rockets aren t going to ....
a far cry from the 9% we saw in june but there are warnings of a possible recession or the pipelines our business reporter katie silva has been looking into the details of the story for us. it is always great to see you on asia business report at the seems like relatively good doesn t it? fit at the seems like relatively good doesn t it? of course. as we mentioned good doesn t it? of course. as i we mentioned a huge drop since lastjune. 5% inflation down from 6%, its well and truly been welcomed in high quarters, president biden saying it gives american families some breathing room in particular pointing to the fact that we ve seen the greatest reduction in the costs of gas as well as food and grocery expenses, things that are very important to american families. but the excitement should be tempered somewhat. up was the us like many major economies pursues an inflation target of 2% so 5% is still a long way off that and if we were to take out those impacts of the fu ....
of a possible recession in the pipelines. our business reporter katie silva who has been looking into the details of the story for us, joins me now on the program. katie, it is always great to see you on asia business report and this seems like relatively good, doesn t it? it does. it has been welcomed in high quarters. president biden, for example, saying that it gives american families some breathing room and particularly pointing to the fact that we ve seen the greatest reduction in the costs of gas as well as food and grocery expenses things that are very important to american families. but the excitement should be tempered somewhat. of course, the us like many major economies pursues an inflation target in the order of around 2%, so 5% is still a long way off that, and if we were to take out those impacts of the fuel and food prices, that would leave us with a figure called core inflation and, in fact, core inflation actually rose, particularly driven by increase ....
completing a historic security policy shift. that was triggered by the invasion of ukraine by russia, with which finland shares a long border. in response to this, moscow said it would strengthen its military capacity in its western and northwestern regions. while sweden remains in the waiting room still, nato secretary generaljens stoltenberg says as a result, sweden will also be safer . let s get the latest from kyiv and our correspondent hugo bachega. asi as i mentioned there, hugo, this sparked by russia s invasion of ukraine just over a year ago. what is ukraine s reaction to this? yeah, i think the ukrainians is ukraine s reaction to this? yeah, i think the ukrainians are is ukraine s reaction to this? yeah, i think the ukrainians are watching | i think the ukrainians are watching it very closely and obviously, as you said, this decision by finland was triggered by russia s invasion of ukraine. and today is a major symbolic moment. finland abandoned decades o ....
limits in hand luggage. a ceremony is due to be held in brussels within the next few hours to officially welcome nato s newest member. this nato s newest member. is the scene live in brusse where this is the scene live in brussels, where officials are arriving to witness the raising of the finished flag here. finland has abandoned its long standing commitment to neutrality in response to russia s invasion of ukraine. the head of the military alliance, jens stoltenberg, told reporters it was a historic day; he said it would have been unthinkable just a few years ago. in response, moscow says it will strengthen its military presence in the region. let s listen to what mr stoltenberg had to say. in a few hours we will welcome finland as the slst member of our alliance. this will make finland safer and nato stronger. on this very day in 1949 the washington treaty, nato s founding treaty, was signed in washington and it s hard to imagine a better way of celebrating our anniv ....