to fall into recession this year and will maintain positive growth this year. news welcomed by the uk finance minister as a big upgrade in the uk outlook. but for many right now, it might not feel like things are looking up with double digit inflation pushing up the cost of living, and pushing living standards down. here s the chancellorjeremy hunt reacting to the news. today the imf s assessment shows we are on the right track. the report forecast growth of 0.4% in 2023 and 0.7 percentage point upgrade since the aprilforecast. 0.7 percentage point upgrade since the april forecast. that s even higher than the bank of england forecast published last week for 0.25% growth in 23. the imf says we have acted decisively to fight inflation which will substantially reduce to around 5% by the end of the year. in the imf say our approach to fiscal policy will help to significantly reduce the deficit over the forecast by 3% of gdp between 20 to 23 and 2728. so together these forecasts
alleged affair nate is live in new york with latest on this. reporter: good afternoon fox news reached out but manhattan d.a. decline to comment and illegally leaked information about his expected arrest on tuesday. take a look trump posted on true social quo no crime able to be proven based on full and debunked by numerous prosecutors fairytale the leading republican candidate and former president of the united states of america will be arrested on tuesday of next week. this case centers around a $130,000 hush money to stormy daniels on eve of the 2016 presidential election. trump former lawyer michael cohen pleaded guilty to his role in that payment back in 2018. he claims it was meant to keep daniels quiet something that trump denies and claim former president and business reimburse for that payment manhattan prosecutors are weighing whether the context surrounding that payment resulted in a crime. but former u.s. deputy assistant attorney general john yu says it will be a
a top republican has accused us regulators of being asleep at the wheel in the period leading up to the implosion of silicon valley bank. those comments in the first of two bruising congressional hearings intended to shed light on the failings that led to the lender s collapse. in response, the regulator pointed the finger at executives saying they did a terrible job of managing risk. we are still reconstructing the supervisory racket, we understand they were issued a matter requiring attention based on the inaccuracy of their interest rate risk modelling. essentially, the risk model was not at all aligned with reality. today, the hearing continues. the collapse of svb and signature bank created shock waves across the global banking sector, with central bankers moving to reassure nations that the structural integrity of the financial system remains intact. joining me now is greg feldberg, director of research for the yale program on financial stability. you were director
and industry execs including elon musk believe so and have signed an open letter calling for a 6 month pause on advanced ai development. that s training sytems more powerful than openai s newly launched chatg pt. and here in the uk, the government has set out its plans to regulate ai with new guidelines on responsible use. critics fear the rapid growth of ai could threaten jobs or be used for malicious purposes but it is boosting economies worldwide. let s get the latest thoughts on all this with sue daley from the industry body techuk. sue, remind us why governments and businesses think ai can do us harm? ai technologies have huge potential to help our economy and our society. to address issues such as increased productivity, help in the climate change emergency, to help people in their everyday lives. there are concerns around how this rapidly evolving technology is having an impact on the way that we live, work and importantly, how do we get this right and notjust and impo
and 48 hours to come up with the next generation of video games. we ll be hearing from the man behind the global gamejam. hello there. we start here in the uk, where the bank of england has raised the cost of borrowing for the tenth time in a row. the half a percent rise puts uk interest rates at 4%, their highest level in more than 1a years. a bonus, of course, for savers, but it piles more pressure on businesses and those with mortgages, loans and credit card debt. the good news is that the bank now thinks the uk s recession will be shorter and less severe than it previously thought, and there s a hint that rates may not have to go any higher. but a recovery could take years as our economics editor faisal islam reports. the squeeze continues. an official interest rate of 4% should not feel huge, but it does, and notjust here in nuneaton, forjoanne, who runs a furniture and gift shop. the mortgage a furniture and gift shop. the mortgage on a furniture and gift shop. th