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suffer the most. also coming up: called to account. hundreds of uk post office managers were falsely accused of fraud because of faulty software. we look at role of the tech giant fujitsu in a massive miscarriage ofjustice. and the rugby league world cup kicks off today after a covid delay with the biggest sponsorship deal in the tournament s history. absolutely, 100%, iam not going anywhere. a defiant uk chancellor on whether he and the british prime minister will still be in theirjobs at this time next month. as you have been hearing, he has flown back early from iff meetings in washington for meetings with the pm. imf. washington for meetings with the pm. imf. they are expected to pause plans after weeks of economic crisis. people are panicked about the impact of billions of pounds of tax cuts funded by more borrowing on the u.k. s debt and on inflation and that sent government borrowing costs and mortgage rates are soaring and force the bank of england to come ....
we start with the latest market action and as the trading day began in asia the pound started to slide down nearly 5% at one point against the us dollar that s on top of the 3.6% dive on friday. investors are running for the exits as fears mount the new government s shock and awe tax plans for the uk economy are too big a gamble. on friday the chancellor, kwasi kwarteng, announced historic tax cuts, and the biggest increase in borrowing since 1972 to pay for them. there is now calls for the bank of england to take emergency action to calm rattled markets and bolster sterling. so let s look at how the pound is trading now. it has been hovering around just over $1.05 but one hour ago we were looking at the pound buying $1.03 so it has recovered a tiny bit but not much and you can see that the markets in asia are fairly mixed and we have the price of oil edging lower as well. joining me now is simon french, chief economist at panmure gordon. is at panmure gordon. thi ....
there to receive her body. with me now is kier simmons, tim york. kier, glad to have you with us at this really somber and emotional moment for people in the uk who are now for the first time seeing the queen arrive to a place that she called home for decades. reporter: that s right. i just drove along that same route that the queen s hearse, the state hearse, glass windows to make it easier for people to see the coffin as she passes by. i just drove that route and people were lining the route, waiting in silence with umbrellas. very british scene. as they waited for the queen to say good-bye for one last time. just think about this. here on the streets of london, many londoners have experienced seeing the queen go by. coming here to celebrate, possibly for her 70th anniversary. but for all of them now, this is the last chance. this is the last time that there will not be another time after this week and i think that we re looking at now is her hearse passing down. i ....
it was like a second home from home for two decades. i will speak to the manager and the staff who loved bill so much and knew him so well. good mornin: so much and knew him so well. good morning from so much and knew him so well. good morning from blackpool so much and knew him so well. good morning from blackpool which will be lit up with morning from blackpool which will be lit up with illuminations tonight but with lit up with illuminations tonight but with the country facing an energy but with the country facing an energy crisis, i have been finding out how energy crisis, i have been finding out how the town is keeping the lights out how the town is keeping the lights on out how the town is keeping the liuhts on. ~ ., lights on. while some of you will sta d lights on. while some of you will stay dry with lights on. while some of you will stay dry with some lights on. while some of you will stay dry with some sunshine - lights on. while some of you w ....
hello and welcome to audiences in the uk and around the world. we start on wall street where stock markets have suffered their worst first half of the year in more than five decades. as of the close on thursday, the s&p 500 index of top us firms has lost more than 20% between january and june, a sell off on a scale not seen since 1970 when president nixon was in the white house. for the tech dominated nasdaq, it s been even worse a near 30% fall for the first half is the worst in its history. from new york, samira hussain has more. the sell off of the stock market over the last six months has been brought. it is not just one sector bearing the brunt of losses, but a range of companies from disney to apple tokamak target. the latest economic data indicates actually the road ahead may be getting even bumpier. the federal reserve s regional bank in atlanta has been closely watched for the gross domestic product and gdp, which today signalled that the us economy will have ....