I strongly disagree with fitchs decision, and i believe it is entirely unwarranted. Its flawed assessment is based on outdated data, and fails to reflect improvements across a range of indicators, including those related to governance that weve seen over the past 2. 5 years. Other democrats used the downgrade as an opportunity to point the finger at republicans for their role in the recent debt limit fight. While republicans blame joe biden and democrats for trillions of dollars in new spending. Many economists dismiss the downgrade, including Jp Morgan Chase ceo jamie diamond, who called it ridiculous and said that the decision ultimately didnt really matter. And he may not be wrong. Us treasuries, that is government ious, remain the bedrock of the Global Financial system, despite this latest knock to the reputation. Expectations are high that it will raise rates again. If so, it could take the cost of borrowing up to a 15 year high. Consumer inflation has come down more than expected
Lets look at what this materials move means for the rest of the world. The consensus is that will be damaging not fatal for the United States. The reason china dominate the market is not because it is the only place where gallium and germanium exists, but because it is by far the cheapest place you can get them from. You dontjust dig them up from the ground, they are derived from a more complicated Reduction Process and china has that capability. So governments and businesses will have to rely on cheaper substitutes and alternative sources. It means prices will go up, it means some products might be less effective and some production right be delayed. So this sort of poses a bit of an existential thread for western industry, its the gradual erosion of capability. But in a broader sense this threatened the overall narrative of globalisation, the idea that International Markets will be able to deliver what you need, when you need it at the price that you need. Derisking is what western g
Americans love of lattes and iced coffee helped starbucks through the worst of the post pandemic years. But with high inflation in the us, a cup of coffee is now 5 on average. The big question for investors going into this Earnings Season was would consumers still spend money on elaborate coffees . The answer was mixed. Sales in North America grew 7 , even after the chain raised prices. That figure was below wall streets forecast. Customer traffic only increased by 1 . Most of the gains came from existing customers spending more money. Sales in china, its second biggest market, rose sharply. Same store sales increased a whopping 46 from a year ago. Starbucks remains a favorite brand among chinese consumers. The company benefiting from a rebound after strict covid 19 restrictions were lifted. But the coffee chain said that Wage Increases and investment in its cafes dragged down its overall profits. Starbucks ceo laxman narasimhan, who took over from predecessor Howard Schultz in march,
think that we re seeing some of that now, where certain customers are forcing their suppliers to some of their production of their products to other regions to mitigate some of the risks that we re seeing today. of the risks that we re seeing toda . . , of the risks that we re seeing toda . ., , ., , today. and that s it for this edition of today. and that s it for this edition of asia today. and that s it for this edition of asia business . edition of asia business report. i m monica miller. thanks for watching. voice-over: bbc news, bringing you different stories from across the uk. safe and sound asleep. these puppies are lucky to be here. their mum was a stray, rescued from the streets, heavily pregnant, clearly traumatised. when she arrived with us, she was so nervous to the point where she did not walk for the first week. she wouldn t stand. she was so nervous, she wouldn t go anywhere, particularly with men but with everyone, basically. staff at the rescue centre nam
staff at the rescue centre named the nervous collie roo and a foster family was found at this farm near helston where she could have her litter of seven pups in peace and quiet. things aren t perfect for her. she definitely still has a long way to go, but coming to a nice, quieter environment than being in kennels has been fantastic for her. she has come along really well and the next stage will be keep feeding and growing the puppies and when they are old enough we will find them all homes. and roo as well. but for now, she is really happy here, she has settled well. with tens of thousands of dogs in uk rescue centres, the national animal welfare trust says roo s story is an important reminder to think before getting a pet. voice over: for more stories from across the uk, head to the bbc news website. hey, i m dylan with the catch up. tonight, lioness success. the war in ukraine.