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BBCNEWS World Business Report July 7, 2024

struggling with symptoms. let s start here in the uk, where the new chancellorjeremy hunt has ditched almost all of prime minister liz truss tax cuts announced in the government s mini budget three weeks ago. the financial markets reacted positively to the news, with the pound rising against the us dollar and uk gilts falling. in total £32 billion of the £45 billion in tax cuts have been shelved, these include. the planned 1p cut in the basic rate of income tax is now on hold indefinitely, with the rate remaining at 20%. the cap on energy prices charged to households is now only guaranteed until april next year. for a typical household, it means an annual bill will not rise above £2,500 for the next six months. but plans to cancel the 1.25% increase in national insurance contributions will still go ahead, along with a reduction in stamp duty, and the cap on bankers bonuses will still be scrapped. joining me now is chris southworth, who s the secretary general of th ....

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BBCNEWS BBC World News July 7, 2024

hello and welcome. president putin is expected to hold a ceremony in the next few hours to declare that four ukrainian regions willjoin russia. the kremlin says luhansk, donetsk, zaporizhzhia and kherson voted to join russia in recent, self styled referendums. but ukraine and the west have dismissed the votes as a sham. ukraine insists its goal of fully liberating the country will never change, regardless of any statements from moscow. our ukraine correspondent, james waterhouse, has been to one village close to the front line, as well as where russia now sees as a new border. there aren t cues to the front line from this side. war with russia is trying to cause new water. it feels like driving into a vacuum. devoid of communities but not damaged. in the village here, it s mostly women and not many. the men and children have left now. life 11 miles from the enemy is not easy. translation: miles from the enemy is not easy. tuna/mom- miles from the enemy is not easy. tran ....

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BBCNEWS World Business Report July 7, 2024

in energy bills from tomorrow, despite government help to limit price rises. plus: auto austerity! citroen s answer to the energy crisis a cheap electric car made of recycled plastics and cardboard! hi, there. prime minister liz truss and chancellor of the exchequer kwasi kwarteng will be trying to rebuild the confidence of financial markets today after a week of turmoil sparked by their economic plans last friday. they are to meet with the head of the uk s government spending watchdog, the office for budget responsibility. the obr s role is to give independent oversight of borrowing and spending plans. critics say it should have been involved from the start. the pound hasjumped the most against the dollar in over two years, erasing all its losses over the past week. this, after the bank of england continued to pump money into the bond markets to prop up the value of uk debt. the prime minister though is still insisting her tax cutting plans are right for the britis ....

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BBCNEWS BBC News July 7, 2024

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BBCNEWS BBC News July 7, 2024

territories in ukraine, but the us says it will never recognise russia s claims. meanwhile ukraine says 23 people were killed when a russian missile hit a convoy of vehicles carrying civilians. search and rescue efforts continue in florida, after hurricane ian caused widespread destruction. record numbers of nurses are quitting the nhs in england more than 40,000 have left in the last year. steve wright will host his final radio 2 weekday show this afternoon, but stressed he is not retiring and will continue at the station. the prime minister liz truss and chancellor kwasi kwarteng will meet the head of the office for budget responsibility, the uk s independent financial forecaster this morning. they ll discuss the fallout frpm last week s mini budget. while the watchdog offered to prepare a draft forecast in time for last friday s mini budget, that offer wasn t taken up. forecasts from the 0br give an indication of the state of the nation s finances and there have be ....

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