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so we start in the us, where, as you ve been hearing, the world s biggest entertainment company, walt disney, is axing 7000 jobs as part of a cost cutting drive. it comes as the company revealed the first fall in subscribers to its streaming service, disney+, since it was launched more than three years ago. veteran ceo bob iger has returned to run the company again after its shares lost almost half their value last year, as michelle fleury reports from new york. this is ceo bob iger s first set of results since returning to the company in november, attempting to revive the storied brand and cement his legacy, he said disney was embarking on a significant transformation, putting creativity at the heart of everything it does, while announcing the elimination of 7000 jobs as it seeks to trim costs by $5.5 billion. his comments point to the future, but results showed the mouse house performed better across a number of areas in the last months, compared to the dismal showing ....
is the industry ready? plus: the bitter row brewing at starbucks. its former boss denies illegal union busting in a tense appearance before the us senate. and players ready. a $180 billion industry, 45 contenders. who will smite the opposition at tonight s bafta games awards? hi there. powering up britain that s how the uk government is describing its new strategy to reach net zero carbon emissions by 2050. it s expected to promise £20 billion in funding for carbon capture technology, more investment in nuclear and help for householders to insulate their homes and install heat pumps. it comes after a legal challenge by environmental campaigners led to a ruling by the uk s high court that the government s previous plans were inadequate. friends of the earth, one of the campaign groups, has already described the latest policies as dangerously lacklustre and lacking on climate action. here s what the minister in charge grant shapps had to say. i think is the flipside ....
plus the crypto crash deepens. could it spell disaster for el salvador s multi million dollar gamble on bitcoin? we start in the us where the federal reserve has announced the biggest rise in borrowing costs in 28 years. the fed raised its key interest rate by three quarters of a percent and signalled more big increases are on the cards. as our correspondent michelle fleury reports, from washington, it s battling to control the worst inflation in four decades. intensifying its five figure inflation which is currently at a a0 year high reserve raised its key interest rate by three quarters of a percentage point to a range of 1.5 to one and three quarters of a percent, move that will push up borrowing costs for and company. us interest rates haven t been hiked by this much in one go since bill clinton was in the white house in 199a, the size of the mood something federal chair reflected on during his press conference. clearly the 75 basis point is an unusually large ....
Muted start. And Chlorinated Chickens, the Electric Mini and tech titans well be looking at whats been a busy week in today we want to know does great wealth bring great responsibility . Yesterday amazon founder jeff bezos was, briefly, the richest person in the world what would you do if it was you . Just use the hashtag bbcbizlive. Hello and welcome to Business Live. We start with retail giant amazon it has seen its shares fall sharply after its latest figures disappointed wall street. The good news it is raking in huge sums of money as its sales keep expanding. The bad news its spending a fortune on developing its business and that is making investors nervous. Lets show you the details. Total sales in the three months tojune jumped almost a quarter compared to last year to just under 38 billion. Unfortunately they ....