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welcome to bbc news. our top story today: the us defense secretary says he had a rare phone call with his russian counterpart in the aftermath of a collision between a russian fighterjet and a us drone. the race is now on to recover the wreckage of the drone which is thought to be twelve hundred metres deep in the black sea. russia has also said it will try to find the wreckage. meanwhile, america s top general said the whole incident was a result of russia s increasingly aggressive behaviour in the area. us defense secretary lloyd austin gave this update earlier. as i ve said repeatedly, it s important that great powers be models of transparency and communication. and the united states will continue to fly into operate where ever international law allows. and it is incumbent upon russia to operate its military aircraft in a safe and professional manner. our diplomatic correspondent, james landale has this report from kyiv. this is the kind of unmanned aircraft that c ....
been falling during friday s trading as investors weigh up what stresses and problems may lie within them. concerns were sparked at the beginning of this week when switzerland s biggest bank ubs was forced to rescue its rival credit suisse. but fears seemed to ease as policymakers and politicians offered their ressaurances that their were no wider problems after the recent failures of two us banks. as you can see here, stock markets across europe are down. other banks to suffer on friday include barclays and natwest here in the uk as well as germany s commerzbank and spain s banco de sabadell. so the german chancellor has again been trying to reassure investors. translation: the banking system is stable in europe and the european union has supervisory structures in various areas, including the euro area, which have enforced strict rules and it has now proved its worth and enables us all to say that european bank supervision and the financial system are robust and stable ....
let s carry on with our coverage of the political crisis here in the uk as prime minister borisjohnson continues to defy calls for him to resign despite more than a0 ministers and aides walking out of government in the last 48 hours. it comes as britain faces a wall of economic challenges. among the g7 group of rich economies, uk growth is predicted to be at a standstill or even in recession next year, putting it behind canada, france and the us among others. inflation in the uk is already at a ao year high and expected to hit double figures, ten or even 11% by the year end and there s no let up in soaring household energy bills the annual bill is likely to be over 3,000 pounds a year by the autumn when the regulator lifts its cap on prices again. so the challenges are stacked up for chancellor nadim zahawi and he is widely expected to make an announcement on cutting taxes in the near future. rebuilding the economy and growing the economy is my task, and this is ....
so it should be interesting to see some of those players perhaps rejoin with some of their pga tour colleagues. yeah. but that will be tense, won t it? yes, indeed. new day continues right now. good morning to viewers here in the u.s. and around the world, it is friday, june 10th. i m brianna keilar with john berman. donald trump lit the flame with his election lies culminating in the deadly violence during an attempted coup at the u.s. capitol, that was the case made by the january 6th committee in its first public primetime hearing. they presented never before seen video of the violence as rioters breached the capitol. they had gripping testimony from a u.s. capitol police officer who suffered a traumatic brain injury during the attack. and the committee s vice chair, republican liz cheney, says trump had a seven-part plan to prevent the transition of presidential power that included pressuring vice president mike pence to refuse to count certified elect ....
in a move that could push the country closer to default. the treasury department said it would end a waiver that had allowed us bondholders to accept payments. russia has almost $2 billion worth of payments on its international bonds that will be due up to the end of the year. joining me now is patrick reid, co founder of the adamis principle. i guess the place to start with this is how close it will bring russia to default in common what would happen if it does? thank you for having me on. it isjust another nail thank you for having me on. it is just another nail in the russian economy, and we cannot underestimate the consequences and dangers of a default. it is not quite like 1998, but it is not quite like 1998, but it is not very good for russia long term. now, a ten year yield on a russian bond will get you about 10% right now. that is not enough. russia s central bank raised interest rates to 20%. they are now currently 1a. that is not going to be enough either. es ....