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BBCNEWS The Context with Christian Fraser July 7, 2024

it comes as new figures show the task in hand with the price of some household basics soaring. tonight with the context, anand menon, director of the think tank uk in a changing europe and jack blanchard, the uk editor for politico. welcome. rishi sunak has become the uk s third prime minister in seven weeks, saying he ll unite the country, not with words, but with action . he promised stability, integrity, professionalism and accountability. his first day in office began with a trip to buckingham palace to meet the king and formally be invited to form a government. after travelling the short distance to downing street he addressed the nation, emphasing the scale of the economic task ahead and also finding some kind words for liz truss before talking about the problems she left behind. i want to pay tribute to my predecessor, liz truss. she was not wrong to want to improve growth in this country. it is a noble aim. and i admired her restlessness to create change. but ....

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BBCNEWS World Business Report July 7, 2024

if gas prices keep rising. fuelling controversy. opec slashes production to boost oil prices, sparking an angry reaction from president biden. plus too broke for beauty? women around the world say they are cutting back on cosmetics so how is the industry responding? we ll hear from a top entrepreneur. we start here in the uk, where as you ve been hearing, prime minister liz truss has been presenting her plans to boost the economy in her keynote speech to the conservative party conference in birmingham. she re stated her commitment to lowering taxes just two days after being forced to abandon a pledge to cut income tax for the highest earners. markets remain nervous about the outlook for the uk s finances under ms truss s government after the mini budget statement on september 23rd that sent the pound to a record low and borrowing costs soaring. but she argues the disruption will be worth it. whenever there is change, there is disruption. and not everybody will b ....

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BBCNEWS BBC World News July 7, 2024

the pound remains under pressure from market concerns about government borrowing to fund tax cuts. a state funeral is due to be held for the former japanese prime minister shinzo abe. leaders from across the world are expected to be at the service. the event will start in just under an hour but there has been growing opposition with detractors citing the cost. and honours even as engalnd and germany share six goals in their final game before the qatar, world cup. of an asteroid travelling at 14,000 miles per hour! it s the first time it s ever been done, and it s hoped that it ll teach us how to change the speed and path of future asteroids and planets. our science editor, rebecca morelle, has been taking a look at what happened. closing in on the target. images beamed back from 7 million miles away as a nasa spacecraft approaches an asteroid. the details of the rocky world are revealed. but this probe isn t here to study it. itsjob is to knock the space rock off cour ....

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BBCNEWS World Business Report July 7, 2024

we begin with the turmoil on financial markets today, the pound sterling continues to languish against the us dollar and several other currencies. the slide in its value was triggered by last week s mini budget, with its controversial package of tax cuts. let s get historical for a moment. we have records for sterling against the dollar going back through history, and in the early hours of monday morning it reached an all time low that is since the creation of the us currency in 1792. let s take a closer look at the past few days the dollar has been strong but this further drop down is about sterling weakness, with a bit of a recovery and then falling back again. you can see this dramatic few days, sterling weakness with a little bit of recovery before it fell back again. on friday and monday there were massive moves within a day, which for a currency like sterling is rare. and one of the impacts of a low pound means that we import inflation, oil and gas is more e ....

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BBCNEWS BBC News July 7, 2024

nasa successfully crashes a probe into an asteroid to test whether space rocks that might threaten earth could be deflected out of the way. ukrainians in four russian held regions have one final day to vote in a referendum, kyiv and its western allies dismiss as a sham. the head of the metropolitan police pledges to be ruthless in rooting out corruption, racism and misogyny in the force. a state funeral is underway for the former japanese prime minister shinzo abe. leaders from across the world are at the service. and coming up in the sport: a moral boosting draw for england against germany in their final match before the world cup. good morning. banks and building societies have withdrawn some of their mortgage deals because of the volatility on global markets. interest rates are expected to rise significantly over the coming months with analysts predicting they could edge up towards 6% next year. what s caused it? well, the chancellor s mini budget last week has spo ....

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