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and collaring the hound pound . why going dog friendly could unleash a $50 billion market for the travel industry. hello, i m sally bundock. let s get on with the business stories. we start here in the uk, where the ftse 100 index of leading shares had its worst day since last summer on concerns interest rates may have to stay higher for longer. that s after the rate of inflation unexpectedly went up in decemberfor the first time in almost a year, despite expectations of a fall. the consumer price index showed prices rising at an annual rate of 4% last month, up from 3.9% in november. the bank of england has pushed the cost of borrowing to a 15 year high to try and rein in rising prices. but as our chief economics correspondent dharshini david reports, while bets on early rate cuts are now being scaled back, there could still be relief for borrowers later in the year. music plays. indulge in a theatre trip or even a gig in december. higher ticket prices, rising drinkers, ora ....
great to have you with us. we begin with some news from the war in ukraine. russia says its troops have fully captured the ukrainian city of bakhmut. kyiv has denied those claims, but if true, it could mark an end to the longest and bloodiest battle of the 15 month war. russia has been trying to take bakhmut since last year in a grinding war of attrition. and in the last hours, the russian news agency interfax has said president putin congratulated his troops and the paramilitary wagner group for capturing the city. earlier, ukraine had said its units were still fighting in the city. meanwhile, ukrainian president volodymyr zelensky has been on a whirlwind tour in an effort to drum up support and weapons for an expected counteroffensive against russia. it s been a busy few hours for zelensky, touching down injapan on saturday fo diplomatic talks touching down injapan on saturday for diplomatic talks with many of the gathered heads of the g7 nations. that includes prime ....
to the federal reserve that the central bank is succeeding in its fight against inflation. let s get the latest on this with our north america business correspondent michelle fleury in new york. some relief after the roses that the inflation is coming down. it some relief after the roses that the inflation is coming down. inflation is coming down. it was the tenth month inflation is coming down. it was the tenth month in inflation is coming down. it was the tenth month in a inflation is coming down. it was the tenth month in a row inflation is coming down. it was the tenth month in a row that inflation is coming down. it was the tenth month in a row that inflationl tenth month in a row that inflation was slowing down and people are looking at it as a sign that perhaps the worst of the inflation crisis is behind us. the problem we have is that the battle is yet to be one because typically if you look at the federal reserve 2% target at 4.9%, we are behind that ....