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warning over the country s debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. without an agreement to increase what the federal government can borrow, it could run out of money by earlyjune. at that point the federal government might not be able to make wage, welfare and other payments. our north america business correspondent michelle fleury is live in new york for us. we have been here before but once again, a stark warning that if nothing is done, it causes huge repercussions around the world. this is because as repercussions around the world. ti 3 is because as you say it is going to affect the jobs of government employees in the united states and have a knock on effect on the border economy, but then there is beyond the shores of the united states, the kind of ricochets it will have around the global financial system and that is why you have had this increasing drumbeat as we get closer to t ....
trigger a constitutional crisis. president biden is asked for the ceiling to be raised with no strings attached, something the republicans have been unwilling to budge on. time is ticking. secretary yellen has estimated the government could run out of money to pay its bills next month. it money to pay its bills next month. , ., , , money to pay its bills next month. , ., ,, .,, money to pay its bills next month. , ., ,, , month. it is congress was my “ob to month. it is congress was my job to do month. it is congress was my job to do this. month. it is congress was my job to do this. if month. it is congress was my job to do this. if they - month. it is congress was my job to do this. if they fail - month. it is congress was my job to do this. if they fail to l job to do this. if they fail to do it we will have an economic and financial catastrophe that will be of our own making and there is no action that president biden and the us treasury can it take to preven ....
in what is being viewed in come circles as a sign that eurozone borrowing costs may soon reach their peak. the move mirrors the us federal reserve s quarter point rate rise on wednesday. central banks on both sides of the atlantic have dramatically raised rates since last year in response to a surge in inflation. professor christian de boissieu is emeritus professor of economics at the sorbonne university in paris. the lending service from the bank suggest that a credit crunch is looming. does that suggest to you that the era of credit cycle tightening has come to an end? i would first say that this credit cycle is not over yet. it is true that it cycle is not over yet. it is true thatitis cycle is not over yet. it is true that it is becoming more and more difficult for people to borrow, given the rising borrowing rates but if you take the example of the eurozone, i expect further increases in key rates before the fall. the cost of borrowing will continue to increase, t ....
Bob iger s return to the helm of the company. that brings us to the end of asia business report at the cell. thank you forjoining me. stay with bbc news and i will see you soon morrow. see you tomorrow. the railway of the future. gone are the signals. in the place, are the signals. in the place, a sophisticated system of sensors and monitors, pinpointing translates, the speed, and location, allowing them to travel faster with fewer hold ups. them to travel faster with fewer hold-ups. them to travel faster with fewer hold-ups.- them to travel faster with fewer hold-u s. ., ., ., fewer hold-ups. you go through a junction fewer hold-ups. you go through a junction and fewer hold-ups. you go through a junction and we fewer hold-ups. you go through a junction and we get fewer hold-ups. you go through a junction and we get through i a junction and we get through the main and increase the speed to 75. , to 75. they call it the european to 75. they call it the european rail- to 75 ....
Much. we will see you very soon. more all stories on the website. the railway of the future. gone are the signals. this allows trains to travel faster with fewer holdouts. you go over a junction and then we go over the mainline, increasing speed. go over the mainline, increasing seed. , .., go over the mainline, increasing seed. , .,, ., speed. they call it the european rail traffic management - speed. they call it the european rail traffic management system. speed. they call it the european - rail traffic management system. we are very involved in felixstowe and london are very involved in felixstowe and london gateway. it is a good interchange point for freight services interchange point for freight services coming in around london to id services coming in around london to go north services coming in around london to go north and services coming in around london to go north and from the south coast. it is go north and from the south coast. it is a go north and from the south ....