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i ll try to give you a fascinating snapshot of all the world of business and money. let s start here in the uk, where the economy in the first three months of this year recorded growth ofjust 0.1%. output in consumer facing services fell by 0.8% in march underscoring the impact of ongoing strikes and the cost of living crisis. hardly booming but a far cry from the record breaking recession that the bank of england was predicting six months ago. on thursday, the bank announced a major rethink of its forecasts saying the uk will now avoid going into recession. of course, talking about interest rates. the bank also raised its main interest rate again by a quarter of a percent to 4.5%. that s the 12th rate rise in a row and it puts the cost of borrowing here in the uk at a 15 year high. here s dr steve nolan, senior lecturer in economics at liverpool john moores university. good to see you. hardly the doom and gloom of the recession that was predicted, but let s ....
that means moscow may no longer treat some of the fighters as prisoners of war and they could face hello and welcome to our look ahead to what the papers will be bringing us tomorrow. with me are adam payne, the political editor at politics home, and natalie fahy, who s senior editor, amongst other titles, including the nottingham post. tomorrow s front pages. let s start with huge profits for bp on the front of the mirror. the oil giant made almost £7 billion in three months, as energy bills soar. that story in the guardian, too, with accusations of unfettered profiteering . the paper also shows us house speaker nancy pelosi, on her controversial trip to taiwan. the daily mail says china has made a chilling threat over that visit, with promises of targeted action around the islands. the times says liz truss has extended her lead over rishi sunak in the conservative leadership race, with a yougov poll showing 60% of party members want her to be the next pm. but th ....
Is the billion seem to be closer to fixing it. here is the billion pound seem to be closer to fixing it. here is the billion pound question. how does the government to fix it? out does the government to fix it? out do we get that growth spurt? how do we get that growth spurt? how do we get that growth spurt? how do we get that growth spurt? irate do we get that growth spurt? how do we get that growth spurt? we have to think about do we get that growth spurt? we have to think about long-term do we get that growth spurt? we have to think about long-term plans. - do we get that growth spurt? we have to think about long-term plans. you l to think about long term plans. you mentioned what has been a dirty word within the uk, industrial policy and investment. where do we want to encourage investment both by government but also by business? how will they train people for what is going forward? these are the kinds of things we need to think about in a joined up of things we ....
Stark~ be those choices that are really stark~ as be those choices that are really stark~ as a be those choices that are really stark. as a mother, you might not have stark. as a mother, you might not have dinner, and you mightjust pay £100 have dinner, and you mightjust pay £100 on have dinner, and you mightjust pay £100 on your gas bill. i can imagine people £100 on your gas bill. i can imagine peogie are £100 on your gas bill. i can imagine people are going to be doing that. i m people are going to be doing that. i m not people are going to be doing that. i m not sure what the energy companies want to do because is unprecedented. it companies want to do because is unprecedented. companies want to do because is unprecedented. it is, and adam was talkin: unprecedented. it is, and adam was talking about unprecedented. it is, and adam was talking about the unprecedented. it is, and adam was talking about the next unprecedented. it is, and adam was talking abo ....
Nina will explain. this is exerting economic pressure but will this hit putin where it hurts? that is the multi billion pound question. the prime minister said probably not immediately but it puts on pressure because oil is a huge part of the russian economy, and it is the world s third largest oil producer making 11 million barrels every day and around half sold around the world. russian oil, gas and coal will no longer be going to the us because president biden announced it will not be accepted at american ports, which is big news. when you consider 8% of american fuel comes from russia, is it that big? the uk is banning imports of oil but not till the end of the year and there is not a ban on gas as yet. seeing as we do not use russian petrol and there are questions about the impact and some even argue it could do more damage to prices over ....