Thejustice departments case revolves around these deals, which ensure pretty much every smartphone sold in america comes Out Of The Box with Google Search preinstalled. The microsoft boss said his company has invested more than 1 billion into the development of its own search engine, bing. Its also invested heavily in Artificial Intelligence and is considered a front runner. But he warned there were limits about how far ai could reshape the market. His appearance comes many years after the tech giants face its own monopoly case, which was settled back in 2001, which paved the way for competitors like google. Were into october in the final quarter of 2023, and this morning we are going to take stock of the year and see how the rest of it will likely pan out in the financial markets. Our next guest believes investors have grown more optimistic about the Global Economy and its largest markets, while the us has seen a better than expected recovery, the picture is somewhat shakier in china, according to simon baptist, chief economist at The Economist unit, good to have you on the programme. Thanks for coming up fast. We are into the last quarter of the as we said. What is your assessment so far and what are your predictions as we look to round off the year . The big summary for the Global Economy right now is solid but unspectacular growth. We think the growth in 2024 will be 2. 3 , exactly the same as this year. The way this year feels i think it is how we can expect you to feel. Year to feel. Now the composition will differ a little bit. The us economy has surprised on the upside this year because everybody including us has been upgrading their us forecast and now looking at growth at close to 2 , as opposed to the 0. 3 expected six months ago. That is a big, positive change for the Global Economy, and japan has also had a strong growth year with growth doubling from last year. 1 to 2 this year. These are some of the bright spots. On the other hand, chinas rebound has disappointed severely. Chinas growth is going to continue to slow, although i think the expectations have now adapted to where chinas sitting. So while the growth wont accelerate, it might feel a bit better because it is now set against lower expectations. And probably the Chinese Government is going to continue small amounts of stimulus, not big bazookas but small and moderate measures to stop the economy from going down any further. Some analysts have been of the opinion that inflation around the world has been stubborn, which has shaped Monetary Policy across various Central Banks. What more can be done in these circumstances . These circumstances . Central bank has had these circumstances . Central bank has had an these circumstances . Central bank has had an unfortunate | bank has had an unfortunate turn of events. Without the invasion of ukraine, we would not be facing such a large inflationary episode. It was just a coincidence of the Supply Chain Snarls as covid was ending, and then working through that as the Commodity Prices increase came from the war in ukraine. Without that, Central Banks would not have had such a tough time, they have risen, rates, pretty fast. People could have argued they could have done a quarter points a couple of meetings earlier but i dont think that would fundamentally change the situation. A deeper issue is the inflation we have now is not really in Central Bankss remits. There is Supply Chain Snarls, the war in ukraine, and a bit of pent up demand from the covid stimulus checks and the covid stimulus checks and the fiscal boost that governments have done. So things that are more supply side issues more than what Central Banks could fix. Rates have gone up a lot, and thatis rates have gone up a lot, and that is something that will cause growth in the us to taper off a bit over the year ahead. I do expect the us to decelerate because of those Interest Rate hikes, and that is a key source of financial risk as well, particularly in the us bond markets. We will have to leave the us bond markets. We will have to leave it the us bond markets. We will have to leave it there the us bond markets. We will have to leave it there but have to leave it there but thank you very much for your take. Speaking of Central Banks, in a few hours, the Bank Of Australia will be delivering its latest great meeting decision. Policymakers in australia have raised Interest Rates five times last may since pushing. For clues on where the rba is headed and how it will impact the australian economy, lets speak to katrina elsie. Thank you very much. What are your expectations . fiur your expectations . Our expectation your expectations . Our expectation is your expectations . Our expectation is the your expectations . Oi expectation is the reserve Bank Of Australia will stay on the sidelines today and keep the cash rate at 4. 1 . I think as you have mentioned the central bank has already done a lot of hiking. We have seen 400 basis points worth of rate hikes in a short period of time so what we are expecting is that the central bank will sit on the sidelines and wait for the impact of that significant amount of monetary tightening to filter through the economy, because it does take time. Our expectation is that it does take six to even nine months for the full impact of a Basis Point Hike to materialise via slower domestic demand. We are still in that waiting game, waiting for inflation to materially cool with the hiking we have had. Irate materially cool with the hiking we have had. We have had. We are also lookin we have had. We are also looking at we have had. We are also looking at a we have had. We are also looking at a new we have had. We are also looking at a new rba we have had. We are also looking at a new rba Governor Holding herfirst looking at a new rba Governor Holding her first meeting. Looking at a new rba Governor Holding herfirst meeting. Do you think that will influence different priorities . How will you see that . fix, different priorities . How will you see that . Different priorities . How will you see that . A very exciting da. You see that . A very exciting day. Michele you see that . A very exciting day. Michele bullocks you see that . A very exciting day. Michele bullocks first i day. Michele bullocks First Central Bank meeting as governor but i dont think it changes the Monetary Policy outlook or Monetary Policy stance from the reserve Bank Of Australia. It is very much steady as she goes, in terms of policy making. I dont think well see much of a change of stance. The priority remains on making sure inflation materially and persistently does return back to the central bank target, and we still have a while to go. Our expectation is we wont see Inflation Retentive at two to 3 target band until mid to late life next year. That will continue to remain a policy priority, irrespective of who is the governor. Irrespective of who is the governor irrespective of who is the governor. We will leave it there, thank governor. We will leave it there, thank you governor. We will leave it there, thank you very governor. We will leave it l there, thank you very much governor. We will leave it there, thank you very much for your perspective. Indonesia has launched southeast asias first high speed railway, called whoosh. It reduces travelling time from jakarta from three hours to under an hour. The multi billion Dollar Project is partly funded by china as part of its belt and road initiative. My colleague sent this report from the launch. This is southeast asias first high speed rail and it connects indonesias Capital Ofjakarta indonesias capital of jakarta to the indonesias Capital Ofjakarta to the fourth most populous city. The china funded Railway Project began construction in 2016 and becomes part of chinas belt and road initiative. After seven years it finally begins commercial operation this month, launched by indonesian president joko widodo. With a top speed of approximately 350 kph, the service cuts down commute time between the two big cities to approximately half an hour. This is just a fraction to the existing Train Service with a duration of three hours. Cutting down time however does not come cheap. The total projected cost of the Railway Service was initially estimated at 5. 5 billion us dollars, with three quarters of that money coming from China Development bank and the remaining from China Railway and indonesian state owned companies. But last year, the indonesian government said it needed an additional 1. 2 billion us dollars in order to meet the deadline of a commercial launch in 2023. Additionally, the service was originally slated to begin operation in 2019. The project, however, faced problems, including difficulties in land acquisition, uncertainties regarding its economic impact, as well as Construction Delays due to the pandemic. As the Railway Service begins operation, there are now talks of extending the railway to surabaya, the second largest city in indonesia. Now some other news making headlines. Talking about evergrande, the heavily indebted chinese property giant, which has now said it will be resuming trading in shares in the Hong Kong Stock Exchange this morning. It announced last thursday its chief was suspected of crimes, following the suspension of shares from trading that day. Evergrande has become a symbol of chinas Ballooning Property Sector crisis that has seen several high profile firms saddled in that. That is all we have for you. Stay on with bbc news and thanks for watching. Bbc news, bringing you different stories from across the uk. Doug has cystic fibrosis. 11 years ago he was on a waiting list, desperately needing a new pair of lungs. You can say if i have it, will it work, but you can also say with very great certainty if i dont have it, i will not be here anymore. Dont have it, i will not be here anymore. Three years ago in 2020, the here anymore. Three years ago in 2020, the law here anymore. Three years ago in 2020, the law changed here anymore. Three years ago in 2020, the law changed so i in 2020, the law changed so that all adults in england are now considered as having agreed to donate their organs when they die. Unless they have recorded a decision not to. But despite the law change, the consent rate is down. Its despite the law change, the consent rate is down. Its very secial consent rate is down. Its very special to consent rate is down. Its very special to die consent rate is down. Its very special to die in consent rate is down. Its very special to die in the special to die in the circumstance that allows you to become a donor, it is probably only about 1 of deaths in the uk. You are much more likely to need a transplant in your life than you are to die in the circumstances that allows you to become a donor. I circumstances that allows you to become a donor. Circumstances that allows you to become a donor. I would not have seen to become a donor. I would not have seen my to become a donor. I would not have seen my sons to become a donor. I would not have seen my sons birth, to become a donor. I would not have seen my sons birth, i have seen my sons birth, i wouldnt have seen my sons birth, i wouldnt have been able to be part of wouldnt have been able to be part of my familys family, be with part of my familys family, be with my part of my familys family, be with my friends. My donors family with my friends. My donors family were presented with such a difficult choice at such a difficult a difficult choice at such a difficult time, and to have the courage difficult time, and to have the courage to make that decision is courage to make that decision isjusi courage to make that decision isjust remarkable, and i will never isjust remarkable, and i will never be isjust remarkable, and i will never be able to explain how grateful never be able to explain how grateful i am. Never be able to explain how grateful i am. For more stories from across grateful i am. For more stories from across the grateful i am. For more stories from across the uk, grateful i am. For more stories from across the uk, head grateful i am. For more stories from across the uk, head to i grateful i am. For more storiesl from across the uk, head to the bbc news website. Hi, tonight the National Living wage rises, an own goal in rugby and a baby beaver is born. First up tonight, the former ceo of Abercrombie And Fitch and his british partnerface allegations of exploitation from men recruited for six events they faced around the world. A bbc investigation found how it used middlemen to find adult men for mikejeffreys and his partner. Eight men told the bbc they attended these events some of whom alleged they were abused. Mrjeffries and mr smith did not respond to requests for comments. The full investigation is on bbc iplayer and bbc sounds. Sounds. The full investigation is on bbc iplayer and bbc sounds. The National Living wage for over 23s will rise to £11 an hour from april. The move will benefit 2 million of the lowest paid. Younger workers are paid at a lower rate. Some other stories now. Thames Valley Police are investigating allegations made against russell brand. It is the Second Police force look into claims against the comedian. He denies any wrongdoing. A rare own goal scored during a rugby match in the scottish borders. This youth player was celebrating winning the a wee bit too early when he accidentally knocked the ball over the crossbar in the dying seconds. Time now to leave you with ten seconds of beavers, because a baby one has been born in london for the first time in 40 years. You are all caught up, bye for now. Hello and welcome to sportsday. Im Chetan Pathak coming up on the programme a First Premier League win since august for chelsea who win the london derby at fulham who can stop Carlos Alcaraz hes into the semi finals of the china open where Jannick Sinner will await. And the nbas next big star gears up for his debut season for the san antonio spurs. Welcome along, thank you forjoining us. We start with chelseas First Premier League win in nearly six weeks and just their second of the season. Theyve beaten fulham 2 0 in south west london relief for Mauricio Pochettinno as he saw his side score twice. The second goal coming from this man Armando Broja a minute after Myhailo Mudryk had scored his first chelsea goal. The win moves them above fulham in the table into 11th. The performance in the victory, it was good and i am so happy, so happy because we had this victory for our fans and happy
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