Significant additional risks. Speaking this morning, ahead of the Imf World Bank meeting in marrakesh, ms yellen said washington was monitoring the potential Economic Impact of the escalating conflict. While we are monitoring potential Economic Impacts from the crisis, im not really thinking of that as a major likely driver of the Global Economic outlook. So we will see what impact it has. Thus far, i dont think weve seen anything suggesting it would be very significant. Janet yellen speaking earlier. Joining me now is gregory peters, co chief Investment Officer at pgim fixed income. Thank you for being with us. Janet yellen says so far things are ok, that there are lots of moving parts right now, notably how long this conflict goes on for and who else if anyone gets involved, i am thinking of saudi and iran. It is anyone gets involved, i am thinking of saudi and iran. Of saudi and iran. It is clear there are lots of of saudi and iran. It is clear there are lots of moving of saudi and iran. It is clear there are lots of moving parts, of saudi and iran. It is clear there are lots of moving parts, it of saudi and iran. It is clear there are lots of moving parts, it is of saudi and iran. It is clear there are lots of moving parts, it is too | are lots of moving parts, it is too easy to tell but i think Secretary Alan is quite right, their trajectory as its current stance has not changed. I think secretary yellen. It looks like heading for a soft landing but the risk of recession is still quite high but thatis recession is still quite high but that is the challenge at the moment. That is because the world economy, midway through what is probably described as a fragile recovery after the effective covid and a slowdown in economies china, notably. How fragile is the recovery and is a shock like there is enough to derail it . It and is a shock like there is enough to derail it . To derail it . It is thought quite fraaile, to derail it . It is thought quite fragile. For to derail it . It is thought quite fragile, for sure. To derail it . It is thought quite fragile, for sure. At to derail it . It is thought quite fragile, for sure. At this to derail it . It is thought quite fragile, for sure. At this point | to derail it . It is thought quite i fragile, for sure. At this point in time i do not think it has an impact but we are yet to see it fully unfolds. If it has meaningful impact on energy prices, that puts more money in inflation and makes the growth picture more fragile, so we are in wait and see mode and it is hard to tell whether or not this will have an impact as we have to see how it plays out. Will have an impact as we have to see how it plays out. Thank you so much, see how it plays out. Thank you so much. Gregory see how it plays out. Thank you so much, gregory peters. See how it plays out. Thank you so much, gregory peters. We see how it plays out. Thank you so much, gregory peters. We will. See how it plays out. Thank you so | much, gregory peters. We will stay right across development in the middle east, but let me bring you up to date with another story we are following in the business newsroom. Criminals are using Instant Loan Apps to entrap and blackmail people across india, according to a bbc investigation. It found that since 2020, more than 60 indians have killed themselves after being abused by loan apps that extract personal data, such as photos and contacts, from customers phones, and then use the information for extortion. Reporter Poonam Agarwal has more. In 2021, bhoomi sinha from mumbai borrowed money from Instant Loan Apps. She was facing a family crisis, and the cash seemed like a lifeline. Within days, it had turned into a trap. Translation a lady called me who said, if you dont pay immediately, we will start calling your contacts. She had fallen victim to a scam that is inflicting misery across asia, africa and latin america. It is simple and ruthless. You get a message saying you have been approved for an instant loan. You then download the app, accept the conditions and the money is yours. Some of these apps are malicious, extracting all your personal information, id cards, photos, contacts. Thats when the extortion begins. In this case, the scammers had photoshopped her face onto this porn image and sent it to every contact on her phone. Translation they called my baby, my daughter, abused her, sent her my nude photographs. I tried to take my life. I did not do it because i have a child. The bbc has found that at least 60 people across india have killed themselves after being abused or threatened by Call Centre Agents working for loan apps. To expose how the scam works, we filmed secretly inside a call centre just outside delhi. This is callflex corporation, which recovers money for loan apps. Most calls are polite, but if you dont pay, the tone changes. Translation behave, or ill break your face. L translation do you think that we just have your number . We know everything about you, every single detail. I have confirmed your address with you. We are coming, 0k . You cant even imagine how badly we abuse people. Blood comes out of areas. Blood comes out of their ears. One of the apps that harassed bhoomi, asan loan, used similar tactics to recover money. We found that it was run by an indian man, parshuram takve. Last year, after a series of suicides linked to his call centre, Indian Police charged takve with extortion and abatement of suicide. He is on the run. But we found that he had links to a whole network of companies, some controlled from hong kong by a chinese businessman, li xiang. Posing as investors, we set up a meeting with him. In this secret recording, he explains how his companies harvest the contact of indians and exploit them to recover loans. Translation we access his call records and capture a lot of his information. Basically, it is like he is naked in front of us. We know everything about him. Takve used extortion and fear to recover money, and at least some of that money ended up in li xiangs bank accounts. Li xiang denies wrongdoing. He told us he complies with all laws, has never Run Predatory Loan Apps and does not collect or use customers contact information. Callflex corporation, asan loan and takve did not respond to a request for comment. In mumbai, bhoomi is starting to rebuild her life. There is more on that special bbc investigation are available on the bbc news website. In new york, the trial of the ftx Crypto Exchange founder Sam Bankman Fried is under way. He has pleaded not guilty to fraud and conspiracy charges related to the collapse of ftx, the now bankrupt Cryptocurrency Exchange he ran. 0n The Witness Stand Today is a key member of his inner circle, caroline ellison, who is continuing her testimony from yesterday. 0ur north America BusinessCorrespondent Erin Delmore was at the court and joins us now. Tell us more about who caroline is and what the testimony was about. Caroline ellison is the star witness for the prosecution. This was reflected yesterday in the level of excitement at the court in an absolutely packed cortez. She is the former ceo of a Crypto Hedge Fund founded by Sam Bankman Fried and was personally close with the defendant. They dated off and on for a number of years and even live together in a 30 million penthouse in the bahamas with executives from both companies. She told the jury yesterday that she had Sam Bankman Fried committed Financial Crimes together. She said dated billions of dollars from Ftx Customer Funds and used to pay for investment and to pay back investors she said they took billions of dollars. She has pleaded guilty and is working with the prosecution, Sam Bankman Fried has pleaded not guilty to fraud and conspiracy charges. It is an astonishing case, not only looking into what went wrong and where the money went but it could determine how crypto is regulated going forward. You were in Court Yesterday, did anything standout to you as particularly remarkable . So you as particularly remarkable . Sr much about this case centres you as particularly remarkable . Srs much about this case centres on the relationship between the Research Company and ftx. The heads of each of those companies, Sam Bankman Fried and ellison, were personally close. She said she felt deferential towards him and awkward around him, that it was difficult for her to be dating her boss. She said she looked to him for all major decisions, run them all by him, and the most stunning moment in the courtroom is when she was asked to identify the defendant in the courtroom, she took about ten seconds, maybe more, to do so, standing up, turning her body, craning her head before saying i see him there in a suit, which was studying for two people who lived and worked together and dated, but they have not seen each other since they have not seen each other since the collapse of ftx. The collapse of ftx. Thank you very much, the collapse of ftx. Thank you very much. Erin the collapse of ftx. Thank you very much. Erin del the collapse of ftx. Thank you very much, erin del moral, the collapse of ftx. Thank you very much, erin del moral, you the collapse of ftx. Thank you very much, erin del moral, you were the collapse of ftx. Thank you very much, erin del moral, you were in. Much, erin del moral, you were in Court Yesterday and i know you will follow that throughout the day as we get further evidence. The Financial Crime agency in india has arrested a chinese national. He works for the company vivo, which has denied any wrongdoing. We spoke to a colleague earlier who has more from mumbai. The to a colleague earlier who has more from mumbai to a colleague earlier who has more from mumbai. The arrest of the vivo emlo ee from mumbai. The arrest of the Vivo Employee is from mumbai. The arrest of the Vivo Employee is just from mumbai. The arrest of the Vivo Employee is just the from mumbai. The arrest of the Vivo Employee is just the latest from mumbai. The arrest of the Vivo Employee is just the latest in from mumbai. The arrest of the Vivo Employee is just the latest in a employee is just the latest in a spate of controversies that have dogged the Chinese Companies in india in recent years. Vivo has said it is deeply concerned in exercising legal options. 0ne it is deeply concerned in exercising legal options. One of the lawyers i spoke with said the Money Laundering provisions under which the us has been made is very stringent and used to deal with criminal cases, not civil offences. Vivo, along with other companies, faces a Tax Evasion Investigation in this country. A minister has accused the firm have collectively not paying over 1 billion� worth of taxes. A strict watch is being kept in Chinese Investment in the auto sector, with car makers facing difficulties of dealing with visas and plans for expansion. Chinese apps like tiktok are banned in india and Indian Police arrested journalists earlier this month over alleged foreign funding from china, a charge the founders had denied. Despite this ongoing tensions, india� s bilateral trade with india grew at a record pace in 2021 and 2022, a reflection of how difficult it is for new delhi to reduce its economic dependence on chinese imports. To reduce its economic dependence on chinese imports chinese imports. Before i go, let me show ou chinese imports. Before i go, let me show you the chinese imports. Before i go, let me show you the markets. Chinese imports. Before i go, let me show you the markets. Brent chinese imports. Before i go, let me show you the markets. Brent is show you the markets. Brent is falling off some of the heights we have seen, down just over 1 , remaining pretty volatile Given Eventin remaining pretty volatile given event in the middle east. You are up to date, see you soon. In an Upcycling Shop in headingley, a transformation is under way. This woman is using her skill and creativity to help solve a shameful problem. Along with her partner james, the couple are trying to make fashion more sustainable, starting on their own doorstep. Who could forget the shocking images of tents and Camping Equipment left behind after Leeds Festival . Hundreds of items treated as disposable and destined for landfill. It items treated as disposable and destined for landfill. Destined for landfill. It was a bit rim, to destined for landfill. It was a bit grim. To be destined for landfill. It was a bit grim, to be honest. Destined for landfill. It was a bit grim, to be honest. Lots destined for landfill. It was a bit grim, to be honest. Lots of destined for landfill. It was a bit i grim, to be honest. Lots of people have a throwaway mindset, but tents are not single use, very durable fabric which can be used again and again. When i saw how much stuff had been left behind, it was really shocking. Been left behind, it was really shockina. �. , been left behind, it was really shockina. S. ,. ,. , shocking. Along with other charities and u cle shocking. Along with other charities and uncycle is. Shocking. Along with other charities and upcycle is, james shocking. Along with other charities and upcycle is, james retrieved and upcycle is, james retrieved tents and Sleeping Bags to make it to something new. To something new. Laptop case, bombard. To something new. Laptop case, bombard. We to something new. Laptop case, bombard, we are to something new. Laptop case, bombard, we are calling to something new. Laptop case, bombard, we are calling this to something new. Laptop case, bombard, we are calling this a l bombard, we are calling this a festival bad, to wear over your shoulder. Laptop case, bum bag. I have worked a lot with cotton and silk in have worked a lot with cotton and silk in the have worked a lot with cotton and silk in the past but not this type of material so i find the Experimentation Process really interesting. Hello from the bbc sport centre. 0ne game at the men� s Cricket World Cup on wednesday. Hosts india chasing 273 to beat afghanistan and make it two wins from two. Afghanistan were 63 3 when captain Hashmatullah Shahidi and Azmatullah 0marzai put on 121 for the fourth wicket. Shahidi made 80 from 88 balls and 0marzai 62 from 69, however any hopes of pushing towards 300 were thwarted by some tight bowling near the end from jasprit bumrah. The indian quick finishing with four wickets in total. This is the latest from dehli, then. India currently 89 0 in the ninth over. Mohit sharma, 72 not out, he has passed 1000