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time now to focus on the top business stories. i m sally bundock and we begin here in the uk where labour shortages and the rising cost of living have crippled the food sector with issues ranging from livestock stranded on farms, worker shortages at abattoirs and crops left to rot in fields with no one to harvest them. the prime minister, rishi sunak, is holding a food summit for crisis talks with farming and supermarket bosses to discuss how inflation is impacting food production. the nationalfarmers union has reported a ao year low in domestic salad production, while egg production recently fell to its weakest level in nine years. let s hear now from anna taylor, executive director of the food foundation. good morning to you, anna. good morninu. good morning to you, anna. good morning- what good morning to you, anna. good morning. what is good morning to you, anna. good morning. what is the good morning to you, anna. good morning. what is the situation - morning. wha ....
let s update you on the fallout following the collapse of silicon valley bank. injapan today shares in its biggest banks have dropped sharply as global markets react to the banking sector sell off in the us. despite a promise from us president biden that his government would do everything needed to maintain stability. on monday americans were lining up outside their branches to access their funds. some venture capitalists in california were seen taking out their money in cashier cheques worth millions of dollars. the volatility sparked by the collapse of svb has led to speculation the federal reserve will now pause its plans to keep raising interest rates, designed to tame inflation. our north america business correspondent, michelle fleury, reports from new york. what the hammock in the us banking sector means for the broader economy is to be seen but it s taking calculations about how america s fight against inflation maeve plouffe. economists at goldman sachs no long ....
go back to stephen colbert where he came from. and later tonight,,enhe new yors going from bad to worse as the city refuses to lock up, repeatt offenders all in the name of social justice. now many residents are forced to take a matters into their own hands. we re going to talkre toke one local boxing and may coach listen to action against the violent criminal. but first, we begin tonight with a common theme from the biden white house. and that is one of weakness. l take a look at joe biden disclosure i spoke with about the possibility of president obama was convinced that electric vehicles that, you know, when they come out,o i m not going to be able to do it because i can drive vehicle while i was president, while the president stood forwh the economy and the environment . thank you very much for that. question, brian . of course, mr. president, i was going to just turn briefly before we get our other speakers to just ask secretary allen to offer before you do,- can ....
this is the business stories from around the world, and i will try and pronounce that correctly in a let s start with a stark warning from the governor of the bank of england. andrew bailey has warned the uk and many other countries are facing apocalyptic food prices, due to supply problems caused by the war in ukraine. bailey warned inflation could hit 10% by the autumn, well above the central bank s 2% target. uk inflation is currently at 7%, which is its highest level in 30 years. another sign of the rising cost of living was shown at petrol pumps yesterday, with one litre of diesel costing £1.80, which is a record high. joining me now is swetha ramachandran, an investment manager at gam investments. thank you for being with us, we know that rising prices are a huge problem, but it really did underlinejust how bad huge problem, but it really did underline just how bad this could get without warning from the bank of england just yesterday. yes, indeed, and there are ....
the us is poised to pass its third major spending package of the pandemic a $1.9 trillion plan that president biden has championed as a way to help struggling americans. the senate approved it on saturday, and later today the house of representatives is due to vote on the senate s version of the bill. the plan calls on the government to send out $1400 per person to those on lower incomes that s anyone who earns less than $75,000. so will this be enough to boost the economy? joining me now from miami is chris campbell, chief strategist at duff & phelps. good morning and welcome to the programme, although it is not morning where you are, i am well aware of that. how much of a game changer is this stimulus for americans? a game changer is this stimulus foramericans? i a game changer is this stimulus for americans? for americans? i think many americans for americans? i think many americans - for americans? i think many americans - $75,000 - for americans? i think m ....