Remember thatjust like most americans who have credit records when they want to borrow money and find out how much debt they can take on, the Us Government also gets a credit rating. When it gets downgraded like this, the potential long term effect as it could push up the cost for the Us Government of borrowing money, and in turn that might long run push up taxes, it could mean less spending by the government and could mean fewer government and could mean fewer government programmes in the future. We are not there yet, but that is the underlying fear. If you look at what they are trying to address here in this downgrade, or one of the concerns they cite, it is a problem that exists both in the past but also in the future, and that is rising Us Government debt. At the moment Us Government debt stands at in excess of 30 trillion and it is expected to exceed the total size of the us economy at some point. With that in mind, with this problem in sight, and with the political disunity we have seen and with the government showing no signs of being able to address this problem, that is what fitch is trying to point out here. The question is, and the reason you get the response you have from the likes of treasury secretary janet yellen, is this isnt unknown, this has been an issue for a while, and so i think people like janet yellen but also other economists including larry summers, are questioning the timing of this. I questioning the timing of this. I said in that introduction it is an unexpected blow to the worlds biggest economy but those who follow this closely, say the American Economy claimed poster the brink couple of months ago. And we have seen the Knock On Effect in terms of confidence. As you would expect, we have seen markets in asia, europe are opening in the us lower, because it doesnt look great for the Worlds Largest economy. I it doesnt look great for the Worlds Largest economy. I think you have to look Worlds Largest economy. I think you have to look at Worlds Largest economy. I think you have to look at this Worlds Largest economy. I think you have to look at this as Worlds Largest economy. I think you have to look at this as reputational i have to look at this as reputational damage, this is a black eye for a country that arguably, there are Treasury Market, which is government iou market, is considered the bedrock of the Global Financial system, and here you have got one of the three major Rating Agencies questioning the kind of quality of that debt. It should be pointed out that debt. It should be pointed out that this is still investment grade, high quality, but not as safe and gold plated as it was prior to this downgrade. More broadly speaking, when you look at this, the Treasury Market is so large that it is unlikely to immediately have a major effect, but it does raise questions about peoples confidence and there is that sense of erosion of trust in the readership of america. That is what this rating reflects, even if it doesnt necessarily translate immediately into financial reality. That is a really interesting point. Thank you, good to talk to you. To the uk now, where the government is hosting Industry Leaders in the Energy Sector as it seeks to strike a balance between Energy Security and finding a path towards net zero. Its committed to finding 100 emissions free energy by 2050. Butjust days ago, the government approved 100 new licences for oil and gas extraction in the north sea and critics question whether that move is compatible with its climate pledges. Lets cross live now to samuel ciszuk, whos an Energy Analyst and partner at els analysis, based on stockholm. Thank you for being with us. Let me put that question to you, can you do both, can you invest in oil and gas extraction, and try to meet your Climate Targets . I extraction, and try to meet your Climate Targets . Climate targets . I think several sources have Climate Targets . I think several sources have to Climate Targets . I think several sources have to be Climate Targets . I think several sources have to be maintainedl Climate Targets . I think several i sources have to be maintained at Climate Targets . I think several sources have to be maintained at the same time, europe is an energy crisis. European production of energy is a priority, and actually the production of fossil fuels, which will be with us for quite some time, is dwindling in europe and whatever can be produced, which is not rationed, for the coming 15, 25 years will be quite important. It is not like europe is self sufficient in any case. And it is not like we will see higher productions from the north sea, even over the long term. We are talking about slowing the decline. ,. ,. ,. , decline. Yes, and for that reason we know different decline. Yes, and for that reason we know different governments decline. Yes, and for that reason we know different governments acrossl know different governments across europe have invested in alternative sources of energy, be those nuclear may be more renewable sources. Who is doing it right, there is still in it lead . Everyone is at different transitions. It lead . Everyone is at different transitions. ,. , transitions. Very much so, and the uk has been transitions. Very much so, and the uk has been regarded transitions. Very much so, and the uk has been regarded as transitions. Very much so, and the uk has been regarded as a transitions. Very much so, and the uk has been regarded as a leader, j uk has been regarded as a leader, not least when it comes to offshore wind for instance but when it comes to putting in frameworks forgetting investments. Forgetting investments. Forgetting investments into nuclear. The eight us the problem is, of course, all of that happened up until very recently, and existed in a low rate environment. With the rates rising, we have seen a bit of air going out of the industry, and just this month, sorry, injuly, a couple of weeks ago, we saw one big company withdrawing from an Offshore Wind Project in the uk, citing higher costs. We have seen deals fall through a couple of weeks ago in the us. And injune there was a deal that fell through. Actually, we are seeing that what looked very promising, in the hopes of build up of renewables and offshore wind, we will now have to navigate a corner economically and governments could have rather rigid frameworks which might threaten this readjustment within the industry. It might threaten this readustment within the industry. Within the industry. It will be fascinating within the industry. It will be fascinating to within the industry. It will be fascinating to see within the industry. It will be fascinating to see how within the industry. It will be fascinating to see how this. Within the industry. It will be fascinating to see how this plays out. A really good to have you with us. To brazil now where its central bank is expected to cut Interest Rates for the first time in three years today. Economists are expecting a small cut of a quarter of a percent from its current high of 13. 75 percent. President lula himself has called on the central bank to cut Interest Rates as price rises eased. I spoke to Leandro Vilain from oliver wyman brazil he said that some areas of inflation remained resillient. The inflation here in brazil started to increase last year in brazil was one of the first countries in the world that raised the Interest Rate in order to control the inflation. However, we were noticing on the last three months that we are noticing this these inflation reduction. And with inflation on its way down, that gives, as we said, the central bank a little bit more room to maneuver. What are you expecting in terms of a rate cut . Because it does feel at the moment that that is running contrary to what were seeing in a lot of other economies around the world. Yeah. In fact, probably brazil today, we have today the central bank will have the Monetary PolicyMeeting Committee today and probably the market expecting the Interest Rate reduction by 0. 25 . However, we will not be surprised if these cut could achieve 0. 50 , which is very significant in terms of resuming the economy, demonstrating the new trend of Interest Rate reduction. And given that inflation is down from about 12 to, as you say, the current rate of about 3 , some may ask why the central bank cant be more aggressive in its rate cutting. What is your assessment of why they may not go further . Its very important to analyze the composition of these inflation. Of course, the average inflation is just close these last months of 3. 19 . However, if you look down on the disaggregated blocks, you will notice that some areas that inflation is too resilient. And in mainly two areas very important to Pay Attention to, which are the Service Inflation and, what we call, the Core Inflation when we remove some seasonality effects from the average index. Now notice something entirely different. From treats shaped like Designer Bags to edible versions of your favourite cartoon character, weve been inside a willy wonka style biscuit factory for the latest episode of our ceo secrets series. What is amazing about biscuits is that theyre a canvas, i think of them as a blank canvas on which you can create any beautiful design. The guys downstairs are artists and i think of it as a design business. My secret of success is to remember to put a Marketing Lens on everything whether that be hiring people, designing products, or even raising money. I think that what sometimes happens is that people get so focussed on designing a product, creating a beautiful website that the Marketing Tends to get bolted on at the end when its kind of too late. Its really sad when great products dont find their markets because theyre just not sufficiently discoverable. I was sort of writing the Press Release in my head while i was designing the product and it was definitely pr that really launched us and made it a brand that people were talking about. Business is a hustle really, you have to be able to be flexible, you have to be be able to not be sort of floored when the plan has to change. Sometimes when the plan has to change its quite a good because you know, we learn, you move on. You can watch the rest of that series on our website. Goodbye. For over a year foi over a year now for over a year now the speed limit through the village has been 20 mph, today police were out to check and still found some who were going too fast and pulled them over. I still found some who were going too fast and pulled them over. Hind still found some who were going too fast and pulled them over. Fast and pulled them over. I find it difficult to do fast and pulled them over. I find it difficult to do 20 fast and pulled them over. I find it difficult to do 20 miles fast and pulled them over. I find it difficult to do 20 miles an fast and pulled them over. I find it difficult to do 20 miles an hour. I l difficult to do 20 miles an hour. I normally do 23. Difficult to do 20 miles an hour. I normall do 23. ,. ,. ~ normally do 23. Gwent police checked the seed normally do 23. Gwent police checked the speed of normally do 23. Gwent police checked the speed of the normally do 23. Gwent police checked the speed of the hundred normally do 23. Gwent police checked the speed of the hundred and normally do 23. Gwent police checked the speed of the hundred and 94 the speed of the hundred and 94 motorists during a two hour period and found 16 were going too fast, with one going 30 formats per hour. Today they did not have to pay a fine but could watch a safety presentation, part of the way the police are trying to get the message across. , police are trying to get the message across. ,. , z ,. , police are trying to get the message across. ,. , ;~, ,. ,. , across. Certainly at 30 mph you have across. Certainly at 30 mph you have a 5596 across. Certainly at 30 mph you have a 55 chance across. Certainly at 30 mph you have a 55 chance of across. Certainly at 30 mph you have a 55 chance of surviving across. Certainly at 30 mph you have a 55 chance of surviving the a 55 chance of surviving the vehicle collision, but a 20 mile, you have a 95 chance. The vehicle collision, but a 20 mile, you have a 95 chance. The fact that eole are you have a 95 chance. The fact that peeple are still you have a 95 chance. The fact that people are still speeding you have a 95 chance. The fact that people are still speeding is you have a 95 chance. The fact that people are still speeding is not you have a 95 chance. The fact that people are still speeding is not a people are still speeding is not a surprise to many here. It people are still speeding is not a surprise to many here. Surprise to many here. It will be aood to surprise to many here. It will be good to see surprise to many here. It will be good to see people surprise to many here. It will be good to see people going surprise to many here. It will be good to see people going 20 surprise to many here. It will be i good to see people going 20 mile surprise to many here. It will be good to see people going 20 mile an hour because a lot of the time they go a bit quicker. The hour because a lot of the time they go a bit quicker go a bit quicker. The new speed limit will not go a bit quicker. The new speed limit will not just go a bit quicker. The new speed limit will not just mean go a bit quicker. The new Speedj Limit Will Notjust mean changes go a bit quicker. The new speed i limit will not just mean changes to limit will notjust mean changes to drivers� behaviour, it will also mean there needs to be changes to the roads themselves on the signs and markings. The Welsh Government said longer term the cost would be balanced by reduced costs on the nhs and emergency services. Here in the uk. The stepfather of a ten month old little boy has been found guilty of is magic in derby crown court. Police say jacob crouch suffered a living hell before he was killed. The child� s mother was cleared of murder and manslaughter but found guilty of causing or allowing the death of a child. The sticky life to our corresponded felt mackie who is there for us outside the crown court. Lets take you live. The crown court. Lets take you live. , the crown court. Lets take you live. ,. ,. ,. , live. There was high emotion at the end of this trial, live. There was high emotion at the end of this trial, there live. There was high emotion at the end of this trial, there were live. There was high emotion at the end of this trial, there were gasps i end of this trial, there were gasps and tears in the Public Gallery as those verdicts were read out a short while ago. One person had to be taken out of the court, they were so overcome with the news that jacob crouch� s stepfather had been convicted of murder and his mother of the lesser charge of allowing the death of a child. There will be a Safeguarding Review into this case, the first of all here is a look into the first of all here is a look into the background of what happened to jacob. Pl. The background of what happened to jacob. � , , jacob. A Smiling Giggling baby but durin his jacob. A Smiling Giggling baby but during his short jacob. A Smiling Giggling baby but during his short life, jacob. A Smiling Giggling baby but during his short life, he jacob. A Smiling Giggling baby but during his short life, he enjoyed l during his short life, he enjoyed what was described as a culture of cruelty by his mother and stepfather. Cruelty by his mother and stepfather. Cruelty by his mother and ste father. ,. , ,. , stepfather. He is gone. He is stone cold. He stepfather. He is gone. He is stone cold he has stepfather. He is gone. He is stone cold. He has gone stepfather. He is gone. He is stone cold. He has gone stiff. Stepfather. He is gone. He is stone cold. He has gone stiff. This stepfather. He is gone. He is stone cold. He has gone stiff. This is stepfather. He is gone. He is stone cold. He has gone stiff. This is the | cold. He has gone stiff. This is the 999 call made cold. He has gone stiff. This is the 999 call made after cold. He has gone stiff. This is the 999 call made after they cold. He has gone stiff. This is the 999 call made after they found 999 call made after they found jacob� s lifeless body in his cot five days after christmas in 2020. They met on a dating site when she was four months pregnant. They were obviously infatuated and