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hello there. we begin in the us where, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic. shares in first republic plunged, as investors worry that it could be the next to fail. it follows the stunning collapse of two other specialist lenders, including silicon valley bank. samira hussain reports from new york. the collapse of two us banks have spooked investors who are now left wondering which bank could be the next to fail. that s been putting a ton of pressure on smaller regional banks. depositors at first republic have withdrawn billions of dollars and the regional banks share price has been cut in half. now the biggest of the american banks have stepped in, led by the likes ofjpmorgan and citigroup, 11 companies have agreed to make $30 billion of uninsured deposits in first republic. they have done this in the hope that it will be enough to shore u ....
hello and welcome to audiences in the uk and around the world. i m victoria fritz. we start here in the uk, with warnings that the country is set for the slowest growth of the g7 nations next year. for context, the uk is not alone, the imf says the global economy will shrink for the first time since 2020, why? partly the pandemic, partly the warn in ukraine, but the risk of recession is rising, and the uk is vulnerable. here are the numbers. the imf has revised down its growth for next year, from 1.2% to just 0.5%. significantly behind the us and europe at over i%, and the globalfigure of 2.9% growth in 2023. so why would the uk fare comparatively worse? well part of the problem is the uk s reliance on fossil fuels, making up 76% of our energy mix, compared tojust under 60% across the eu. let s listen to the imf s chief economist. the one thing that worries me more about the uk economy is that their inflation numbers seem to quite high, there are quite high gas prices a ....
Hello there. we begin in the us where, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic. shares in first republic plunged, as investors worry that it could be the next to fail. it follows the stunning collapse of two other specialist lenders, including silicon valley bank. samira hussain reports from new york. the collapse of two us banks have spooked investors who are now left wondering which bank could be the next to fail. that s been putting a ton of pressure on smaller regional banks. depositors at first republic have withdrawn billions of dollars and the regional banks share price has been cut in half. now the biggest of the american banks have stepped in, led by the likes ofjpmorgan and citigroup, 11 companies have ....
Jp morgan chase s chief executive, jamie dimon, says the us is headed towards a recession in the next six to nine months. jimmy diamond is not one to mince words from his perch at the top ofjpmorgan, he has a keen eye on the american economy, he noted consumers are in a better financial position than they were be the financial crisis in 2008 and the economy remains relatively healthy, he will use the us is headed for a recession next year. the comments come as many economists worry about a possible recession has the federal reserve rapidly creases the cost of borrowing, the chair of the central bank to rome powell has said reading in inflation as a priority but the federal reserve by suggested it will take some time for these interest rate hikes to hit the economy and actually start to bring down inflation. and all ....
Raising unemployment slightly, creating some slack in the labour market so that they can almost afford to be patient. it is a very strained situation here in the uk right now and as the imf said, high inflation expected to peak above 11% this year is only going to compound those problems. i5 year is only going to compound those problems. those problems. is the imf in the ballpark those problems. is the imf in the ballpark with those problems. is the imf in the ballpark with the - those problems. is the imf in the ballpark with the others l those problems. is the imf in| the ballpark with the others in terms of forecast? you mentioned the bank of england there but forecast can be notoriously pretty unreliable. they can and especially in such uncertain times. if you go back six months even, how many people are forecasting growth and inflation and interest rates like they were this year? the ceo ofjpmorgan said earlier this year there could be between five and seven interest rate hik ....