Another day and another announcement is expected from the chancellor, this time about the timing of his Medium Term Plan for the economy. As Kwasi Kwarteng says, he is listening and the much awaited detail on his radical measures to boost Economic Growth will now come sooner, possibly this month. The government had previously insisted the fiscal plan would still be published on November The 23rd despite the market chaos that came with the announcement of the chancellors mini budget. On monday, he revealed a plan to drop the uks highest rate of tax for top earners would no longer go ahead and addressing his party conference, he acknowledged shortcomings in the initial presentation of his economic plans. Ifi if i can be frank, i know the plan put forward only ten days� ago has caused a little turbulence, i get it, i get it. We are listening and have listened and now i want to focus on delivering the major parts of our growth package. Because with Energy Bill Skyrocketing and a Painful Covid aftermath, war on our continent, a 70 year high tax burden, slowing Global Growth rates, and gleefully slow infrastructure delivery, we couldnt simply do nothing. We cant sit idly by. What britain needs more than ever is Economic Growth and a government wholly committed to Economic Growth. Joining me now is melanie baker, Senior Uk Economist at Royal London Asset management. Good morning to you. It looks like he has got to change his timetable because of the pressure coming externally. Give us your reaction to that news. I5 give us your reaction to that news. ,. , , news. Is very welcome. This is what we news. Is very welcome. This is what we wanted news. Is very welcome. This is what we wanted to news. Is very welcome. This is what we wanted to see news. Is very welcome. This is what we wanted to see on news. Is very welcome. This is what we wanted to see on 23 i what we wanted to see on 23 september, when the mini budget was announced in the first place. We wanted to see all those 0br numbers and the chancellors decisions in context. So that is welcome, it is a step, still it doesnt change the fact that we now have, we still have a loss of unfunded tax cut. It doesnt sound as if the chancellor is planning a larger u turn on those. Planning a larger uturn on those. � ,. ~ planning a larger uturn on those. � ,. , ~. , those. Lets talk about those. He did admit those. Lets talk about those. He did admit it those. Lets talk about those. He did admit it has those. Lets talk about those. He did admit it has been those. Lets talk about those. He did admit it has been a he did admit it has been a tough day. He says we are listening. He said obviously there has been reaction on markets which has been negative and had a lot of consequence for many. But when we look at their plans, which the Prime Minister and the chancellor are saying will deliver growth for the uk economy, do you agree with them . 50 the uk economy, do you agree with them . With them . So i think, for example. With them . So i think, for example, the with them . So i think, for example, the energy with them . So i think, for example, the energy bill. Example, the energy bill freeze, it was very important that something was done at the time around energy prices, the increases were all going to be facing in october and that really did lower the probability of a near term recession in the uk. But underneath all that you are in a position where uk unemployment is actually very low, uk inflation is very high. Going ahead with a big fiscal plan effectively on top of that was probablyjust the wrong time for that kind of policy action. � ,. , time for that kind of policy action. � ,. ,. , ~ time for that kind of policy action. � ,. ,. , ~. ,. , action. But if you look at what some of the action. But if you look at what some of the top action. But if you look at what some of the Top Investment i some of the Top Investment banks are looking at in terms of our economy next year and some leading organisations in Financial Services, they still saying were looking recession in 2023. , saying were looking recession in2023. , saying were looking recession in2023. , y a, in 2023. Yes, absolutely. That is artl in 2023. Yes, absolutely. That is partly because in 2023. Yes, absolutely. That is partly because inflation in 2023. Yes, absolutely. That is partly because inflation is i is partly because inflation is so high and that has been digging in to household real incomes. If you stimulate demand in an economy you can make those problems, those inflation problems, lease, somewhat worse. You can see the Bank Of England having to respond to high inflation and markets and most economists expect them to have to respond a great deal further in expect them to have to respond a great dealfurther in coming months. A great deal further in coming months. ~. , a great deal further in coming months. ~. ,. , a great deal further in coming months. ~. ,. , a great deal further in coming months. ,. , months. What you are saying then, melanie, months. What you are saying then, melanie, this months. What you are saying then, melanie, this plan months. What you are saying i then, melanie, this plan wanted deliver growth, which is they are promising us . So deliver growth, which is they are promising us . Deliver growth, which is they are promising us . So there are definitely some are promising us . So there are definitely some good are promising us . So there are definitely some good things. Definitely some good things that are being talked about, but they are the type of things that tend to work well over long periods of time, so changes he has talked about announcing some changes perhaps in childcare, dont know what does might be, some investment things to stimulate investment, and all those things can help boost growth, but they are the kind of things that take time to take effect. In the meantime, you are putting forward tax cuts that are likely to boost demand and make a supply demand imbalance in the economy worse and therefore wasnt inflation pressures. Gk. Wasnt inflation pressures. 0k, melanie, wasnt inflation pressures. 0k, melanie. Yom wasnt inflation pressures. 0k, melanie, you. Melanie baker there from Royal London Asset management. Let us stay on the subject. The Energy Crisis and the situation with regards to fuel prices is a big dealfor our economy and many others around the world. One thing the government here have been very keen to laud is its Energy Package to cap the unit price of gas and electricity for households facing potentially massive hikes over the winter. It isa it is a key move they have made. And yet, despite assurances from the Prime Minister that there will be no rationing this winter, the country is facing a gas supply emergency, says the uks energy regulator, 0fgem. So they are preparing for that. So how to navigate that . Joining me now is anna macdonald, fund manager at amati global investors. Anna, nice to see you as well. So this morning coming from 0fgem and we are thinking, oh my goodness, the lights are going to go out this winter, were going be russian. Your reaction . Were going be russian. Your reaction . ,. , ~ , reaction . Rationed. Anything that means reaction . Rationed. Anything that means they reaction . Rationed. Anything that means they dont reaction . Rationed. Anything that means they dont have reaction . Rationed. Anything that means they dont have to l that means they dont have to rush in electricity, and they are wargaming lots of different scenarios, whether that is backup coal fired power stations, they are also trying to build up the gas Storage Facility that they closed in 2017, but it is unlikely to be back at full capacity by the winter. So, yes, we have to really kind of hope that they are saying that if the wind isnt too extreme at the moment in terms of the weather, we should be ok, we should probably all hope for a mild and windy winter so we can have lots of Renewable Energy generation and fewer blackouts. But there is a lot they are wargaming and planning to try to stop the scenarios of blackouts. To stop the scenarios of blackouts. , , , blackouts. Just very briefly, anna, it blackouts. Just very briefly, anna. It is blackouts. Just very briefly, anna, it is a blackouts. Just very briefly, anna, it is a harsh blackouts. Just very briefly, anna, it is a harsh winter. Blackouts. Just very briefly, i anna, it is a harsh winter that does not bode well for our economy next year. Does not bode well for our economy next year. No. With the Electricity Price economy next year. No. With the Electricity Price we economy next year. No. With the Electricity Price we arent Electricity Price we arent getting those signals yet to actually reduce our usage, so i expected there will be lots more targeting at businesses and households to ration their usage and perhaps some incentives to avoid peak times. 0k, anna, thank you. Have a good day. We will see you soon. Let us now talk about Credit Suisse. Shares in Credit Suisse plunged on monday as fears mount over the Financial Health of the swiss bank. Its shares fell by about 10 , before recovering slightly, after the banks boss failed to reassure investors. Last week, Chief ExecutiveUlrich Koerner insisted, in a memo to staff, that Credit Suisses financial position was solid. It comes ahead of a Restructuring Plan due when the Bank Reports Results at the end of october. Heres theo leggett with more detail. There has been no shortage of the past few days of rumour, speculation, press reports about the Financial Health of Credit Suisse, the Swiss Banking giant. But whats actually going on . Well, a lot of this stems from something that happened on friday when the cost of Buying Product that insure against a default by acro one went up to levels not seen since the days of the 2008 financial crisis. That prompted the Chief Executive of Credit Suisse, Ulrich Koerner, to write of his own stuff to reassure them that the banks financial position was solid. But if people believe that . It seems not, because on monday the share price went down by 10 before recovering quite well. So why is that all this speculation . There is no disputing they have been any was the last couple of years, lost by . 5 million through the collapse of the new york hedge fund. It was caught up in the collapse of another financial fund, green silk capital, more recently. And, of course, it was fine 350 million us by regulators over its involvement in a major Bond Trading Scandal in a major Bond Trading Scandal in mozambique. Analysts say despite all of that there is no immediate reason to fear for the future of Credit Suisse, they cant see with the bad news is coming from. But there is a major Restructuring Plan thatis is a major Restructuring Plan that is due to be unveiled at the end of october when the bank unveils its latest Financial Results as well. So maybe then we will see what has spooked the market. But it may simply be that rumour and speculation is feeding on itself. That is theo leggett. Frances coppola is an independent banking analyst. Good morning. Good morning. Is it one of those scenarios, sell on the rumour, by on the news, what are your thoughts . It is on the rumour, by on the news, what are your thoughts . What are your thoughts . It is a fine example what are your thoughts . It is a fine example of what are your thoughts . It is a fine example of cell what are your thoughts . It is a fine example of cell on what are your thoughts . It is a fine example of cell on the fine example of cell on the rumour. I did a little bit of looking at what was going on because they couldnt see why this is all suddenly blown up out of nowhere over a letter which, on the face of it, so some fairly innocuous things. It simply said we have lots of Capital Liquidity so dont worry. Which in terms of certainly the response so far at the end of quarter is actually true. So where is this coming from . It appears there was a tweet from a journalist saying a Systemic Important Bank was teetering on the brink and people looked around to see who the most likely suspects were and fingered Credit Suisse and Deutsche Bank. It is interesting we talk about Credit Suisse but Deutsche Bank has also seen it as well. And so because both of those banks have had a history of difficulties, shall we say. That is a polite way of putting it, frances. Laughter. So they were the obvious candidates. So they were the obvious candidates. Well, lets look ahead, candidates. Well, lets look ahead. At candidates. Well, lets look ahead, at the candidates. Well, lets look ahead, at the end candidates. Well, lets look ahead, at the end of candidates. Well, lets look ahead, at the end of the i candidates. Well, lets look ahead, at the end of the month we will hear about restructuring at Credit Suisse, it will release its results, etc, what are you expecting . Im expecting them to do, really, the kind of thing we have seen banks do when they have seen banks do when they have of themselves in a bit of a hole in the investment bank, which is mostly what is going on here, where they take a hatchet to the investment bank, a few thousand Investment Bankers lose theirjobs, they put a whole load of toxic assets into a bad bank under separate management, different entities, and wind it down over a long period of time and that frees up the main entity to get on with sorting itself out. You might have a change of management, perhaps, although they have already had that in Credit Suisse. And they raise some capital. The difficult part of that for Credit Suisse is raising capital. And have to say what has happened in the last day has not exactly matters, because, you know, if youre going to raise more capital you might have to issue certain bonds or Something Like that. That is going to be quite expensive. If people are going we are not at all sure about your future. We are not at all sure about yourfuture. It we are not at all sure about your future your future. It sounds familiar, your future. It sounds familiar, doesnt your future. It sounds familiar, doesnt it . | your future. It sounds familiar, doesnt it . Yes, it does. We have to leave it there. Thank you for explaining. We will keep a close eye on Credit Suisse when it does report its results are on this month. There is a lot happening. Stay with us on bbc news. Still to come i cant believe this is happening. Its going down well with some passengers, but is it premature to send Driverless Cars onto the streets of San Francisco . This was a celebration by people who were relishing their freedom. They believe everythings going to be different from now on, they think their country will be respected in the world once more, as it used to be, before Slobodan Milosevic took power. The dalai lama, the exiled spiritual leader of tibet, has won this years nobel peace prize. As the parade was reaching its climax, two grenades exploded and a group Of Soldiersjumped from a Military Truck taking part in the parade and run towards the president , firing from kalashnikov automatic rifles. After 437 years, the skeletal ribs of henry viiis tragic warship emerged. But even as divers worked to buoy her up, the mary rose went through another heart stopping drama. I want to be i want to represent everybody. I believe in the people of california. Cheering and applause this is bbc world news. The latest headlines tokyo condemns north korea for firing another Ballistic Missile this time overjapan authorities warned people to evacuate buildings and take shelter. The uk chancellor, brings forward the release of his plan to cut the nations debt after being forced into a u turn on a key budget policy. More now on north korea and its launch of a suspected intermediate range Ballistic Missile over japan. This is the first north Korean Missile to pass through japanese airspace since 2017. The japanese Prime Minister has described the launch mariko 0i is in our Asia Business hub. Normally when this sort of thing happens there is a reaction on markets, it makes people very nervous, what is going on . This people very nervous, what is going on . Going on . As you mentioned north korea going on . As you mentioned north korea has going on . As you mentioned north korea has fired going on . As you mentioned north korea has fired quite l going on . As You Mentionedj north korea has fired quite a number of missiles lately, fifth and just a week so the market has come somewhat immune to it but this one was quite different because as you said it flew overjapan for the first time in five years. The stock market pretty much shrugged it off, if Anything Defence shares have been doing quite well but what i want to show you is the currency market. Take a look at this. This is the chart that says seven in the morning local time and this dip basically showing that the japanese yen strengthening against the us dollarjust strengthening against the us dollar just after it was confirmed that north korea fired that missile. Thats because the yen is still seen as a Safe Haven Currency despite its recent weakness because of the difference in Interest Rates betweenjapan and the United States. But its interesting because only ten days ago the bank ofjapan intervened in the market trying to prop up the value of the japanese yen. It didnt exactly work but this is what happened when north korea fired a missile now the market has come down because there was no major damage but it goes to show how closely traders and investments are watching the geopolitical situation. ,. Situation. They are indeed, thank you situation. They are indeed, thank you so situation. They are indeed, thank you so much situation. They are indeed, thank you so much for situation. They are indeed, thank you so much for that j thank you so much for that update. In San Francisco a futuristic pilot is taking place, fully driverless robo taxis are being allowed at night for paying members of the public. The company cruise, says the cars will revolutionise transport. But critics warn putting fully autonomous taxis on urban streets is premature and dangerous. 0ur Silicon Valley correspondent James Clayton has more. Won i think is actually in there. This is incredible. fin there. This is incredible. On San Franciscos there. This is incredible. 0n San Franciscos street, something straight out of a sci fi film is happening. People are able to hail a cab no driver, fully autonomous rubber taxis. No driver, fully autonomous rubbertaxis. Some no driver, fully autonomous rubber taxis. Some love it. I rubbertaxis. Some love it. I cannot believe this is happening. Cannot believe this is happening cannot believe this is happening. Cannot believe this is haueninu. � , happening. But is the text read . Happening. But is the text ready . There happening. But is the text ready . There is happening. But is the text ready . There is only happening. But is the text ready . There is only one i happening. But is the text i ready . There is only one way to find out. Get into one of these cars ourselves. The bbc was one of the first Media Organisations in the world to try it. Its really, really weird. It isnt at like a racetrack or a testing facility, we are fully in the centre of San Francisco. The car is totally driverless, its amazing, unnerving, surreal or mixed into one. fin amazing, unnerving, surreal or mixed into one. Mixed into one. On any of our crews av mixed into one. On any of our crews av is mixed into one. On any of our crews av is we mixed into one. On any of our crews av is we have mixed into one. On any of our crews av is we have lidar, i crews av is we have lidar, radar and cameras and refuse all of those together using Machine Learning and that gives us amazing understanding of the world around us. But us amazing understanding of the world around us. World around us. But it didnt alwa s world around us. But it didnt always feel world around us. But it didnt always feel like world around us. But it didnt always feel like that. World around us. But it didnt always feel like that. There i world around us. But it didntj always feel like that. There is always feel like that. There is a bus in our lane and there are cars to our left so what is it going to do . Oh, 0k, cars to our left so what is it going to do . Oh, ok, its pulling out left. Going to do . Oh, ok, its pulling out left. , another bus is coming pulling out left. , another bus is coming no pulling out left. , another bus is coming up stopping pulling out left. , another bus is coming up stopping it i pulling out left. , another bus| is coming up stopping it really doesnt know what to do. There is a car behind us. This is just bad driving. I was ready to love this and im definitely nervous. ,. , , nervous. Cruise has been involved nervous. Cruise has been involved in nervous. Cruise has been involved in a nervous. Cruise has been involved in a number nervous. Cruise has been involved in a number of. Involved in a number of accidents in San Francisco this year, most of them minor however after a collision in june its software was recalled and some believe it is too soon for real passengers to be driven around without a driver on urban streets. On urban streets. These vehicles on urban streets. These vehicles are on urban streets. These vehicles are still on urban streets. These i vehicles are still somewhat in the test phase and we believe that manufacturers need to provide the public with some sort of transparent evidence that these vehicles are not going to cause problems, debts or injuries on the road. We going to cause problems, debts or injuries on the road. Or inuries on the road. We are six or injuries on the road. We are six months or injuries on the road. We are six months into or injuries on the road. We are six months into deploying i or injuries on the road. We are six months into deploying this| six months into deploying this product, brand new Game Changing product and with that comes some early teething problems. We are really proud of our Safety Record and we report continuously to our regulators and safety absolutely is the top priority at cruise. Despite safety concerns, 1s vision is to expand and quickly and if they get their way these kind of rides will become the new norm. Cruises vision. Would you climb in a taxi without a driver at this stage . Why would love to hear from you. Do tell me what you think about that on twitter, it is fascinating, isnt it . Lets get some of the days other news. Despite higher costs of borrowing, there is still demand in the United States for new cars. General motors said car sales were up 24 in the last quarter, Outselling The Japanese car maker toyota. Analysts are concerned that a grim Economic Outlook will hurt car sales before long. The us center for Disease Control and prevention has dropped about 90 Special Travel Advisories associated with covid19. It noted that fewer countries are testing or reporting coronavirus cases and its ability to make meaningful assessments is limited. The us aircraft manufacturer boeing is not optimistic about winning quick Regulatory Approval for its 737 max ten or its smaller sister, the max seven. It needs to fulfil special Cockpit Alerting Requirements in the wake of two 737 crashes which killed 346 people. Shes one of the worlds biggest Reality Tv StarsKim Kardashian has been given her own Reality Check with a 1. 26 million fine for advertising a crypto currency on her instagram account. The problem . She didnt disclose shed been paid to do so. And of course, investing in cryptocurrency is highly speculative and exposes buyers to high levels of financial risk. Ms kardashian isjoining a growing list of celebrities in becoming high profile investors, offering up their own resources as venture capital. 0thers include leonardo di caprio, Ashton Kutcher and serena williams. But why this trend towards Celebrity Investors . Joining me now isjeetendr sehdev, a celebrity branding expert, and author of the Kim Kardashian principle why shameless sells. A very warm welcome to the programme. First of all, quite a few celebrities are pushing things like crypto currencies and Financial Products right now, arent they . They are moving away from beauty, fashion, the stuff you would associate with them into more financial product. Financial product. They are certainly financial product. They are certainly including financial product. They are | certainly including Financial Products in the spectrum of the products in the spectrum of the products they are promoting on social media and to date by think there is a fine line between celebrity and businessperson. Years ago celebrities would earn their money from movies, music and Reality Tv Shows and stuff like that but now our largest celebrities, whether it is Kim Kardashian, jay z, serena williams, they are presiding over multi million if not multi billion dollar businesses. Kim kardashians body shape where line was recently valued at over 3 billion the way do think we have to get used to the idea that liberties are Business People today and they are looking for different avenues to monetise their fame and their luhansk. I think in particular to this sort of area with Kim Kardashian getting a big slap on the risk she did disclose that the post was an ad but she didnt follow the sec guidelines and because this was a Financial Services product as you were mentioning, the rules are a little more stringent. But she is a pioneer, she has taught every single celebrity how to use social media, she has taught us all how to monetise ourselves so along that way planning do make mistakes and trip up and we learn from that and move forward. �. ,. ,. , forward. And to be fair to Kim Kardashian, forward. And to be fair to Kim Kardashian, she forward. And to be fair to Kim Kardashian, she cooperated i forward. And to be fair to kim i kardashian, she cooperated with all the authorities on this, i think she admitted she made the mistake as you say and mistakes are made, but i think for us as consumers, we need to assume, dont we, that anything the likes of Kim Kardashian or any other celebrity is pushing is something they are paid to do . Absolutely and i think that audiences today, about 12 years ago audiences got a lot more savvy with millennial� s, they have very high Authenticity Detectors so why do think that when people look at social media, they double Question Everything that they are seeing but what i would say is that liberty investment, iep celebrities having a skin in the game, having equity within a company is still the most authentic form of celebrity endorsement, when somebody is just getting paid a paycheck to plug a product, that is very different from somebody like the Ryan Reynolds deal with aviation gen where he actually has a stake in the game and has invested in the company. It is fascinating. Invested in the company. It is fascinating, would invested in the company. It is fascinating, would love to talk to you further but we are now out of time and thank you so much for telling us about that. That is a story on our website on the Business Page so do have a look if you go to our website and click on our Business Page, there is analysis there from all sorts within our department including our Economics Editor on the financial turmoil, see you soon. Hello there. According to data released by the met office on monday, across england and wales in september, we saw a first month of above average rainfall since february. This is the average line notice how significantly low it was at times during the summer. Problem is, to sort the drought issues out, we need more of what we had in september. And whilst well see some rain certainly across northern and Western Areas over the next few days, the south and east, not what we need largely dry for one or two. Heaviest of the rain is across those Western Areas, and by the end of wednesday we could see 30 80 millimetres of rain. By the end of the week, some parts of Western Scotland maybe as much as 200 millimetres. And thats because a supercharged jet stream will push in Weather Fronts like they do on tuesday, and thatll drop a lot of rainfall across those Western Areas. And starting tuesday, wet across parts of Western Scotland, Northern Ireland, but very mild here, 14 15 celsius. Fresher to the south and east, but not as cool as it was on monday morning. Some southern and eastern areas will stay dry throughout the day, particularly east anglia, the southeast, and the channel islands. Brightening up through scotland and parts of Northern Ireland as we go through tuesday. But southern scotland, maybe Northern Ireland, and certainly to northern england, well see outbreaks of rain develop same too across north and west of wales, some of which will be on the heavy side. Top and tail the country drier, but for all with winds quite blustery in the morning, easing a bit into the afternoon coming in from the south, south west, it will be a mild one. And a mild night will follow the wind strengthening, Touching Gale Force later across the west with more in the way of heavy and persistent rain developing. Scotland, northwest england, wales again, probably likely to see that, but notice what a warm start it will be to wednesday morning, a warm and windy one gales in places. And this is a developing area of low pressure. Now, if the Development Takes place after it leaves the uk, thats where well see the strongest of the winds out into the north sea. But if it happens earlier, bear in mind winds, could be stronger. The cloud and more persistent rain for many will be during the morning, lingering longest into the afternoon, east anglia and the southeast. But most places on wednesday will brighten up to sunshine and blustery showers, some of those heavy and thundery. These are the average wind speeds we could see Gale Force Winds quite widely, particularly for parts of england and wales, even 50 60 mph gusts possible in the west. Well keep you updated all depends on how that low pressure develops. Turning fresh into the north and west later on in the day after a very mild start, and that leaves us with a fresher end to the week, thursday and friday. Very blustery, though, with frequent showers in the north and the west. Bye for now. Good morning, welcome to breakfast with sally nugent and jon kay. 0ur headlines. Another change to the governments financial plans after reversing a cut to the top rate of tax, now the chancellor is bringing forward an announcement on cutting the uks debts. A Public Inquiry into the covid i9 pandemic begins today its likely to last more than two years and hearfrom bereaved families as well as senior politicians and scientists. Fears that the most vulnerable will suffer after a drop in Food Donations from supermarkets. A charity tells us people needing help with the cost of living could lose out because businesses are cutting back on waste. One for the History Books as two british sides meet for the first time this evening