For a while yet if in the future at all, pointing to an unstable global Food Supply Pressurised by the war in ukraine. Now the price of food in the uk rose by nearly 17. 5 in the year tojune, which was actually a fall from a high of just over 19 in the year to march, following an overall drop in the wholesale price of food which you can see here peaking when russia invaded ukraine last year. It has been trending downwards. But prices are still much higher than before the war and have started creeping up again. Lets discuss this with Kona Haque Head of reserach at commodities house ed and f man holdings. Good to have you on the programme. Do you agree with the Chief Economist at the Bank Of England that actually high food prices are here to stay . I think at least for the sure term we still have got some pressures that will keep prices elevated. The factors globally, the stocks, global stocks of the stocks, global stocks of the grains, the staples such as grains and oils, and sugar, the
Market cap year alone ed and while ways chip huaweis ship that used technology from two u. S. Manufacturers. Caroline a macro environment paints the picture of a Good Environment that is not so hot that the fed cannot pull back on rates. 6 10 percent higher on the nasdaq, a new record high for the nasdaq and s p 500. Yes, tech leads the charge and ai is the area of focus, but we cvs see the s p push higher. What else do we see it clips . The record we saw on bitcoin. We get a new number. 70,000 is where we managed to push up to, we are back down briefly, but this seems to have legs. Ed, what do you have going . Ed lets start with rivian a day two, feelgood vibe after it unveiled its are two. For me pausing plans for a new factory in georgia. Broadcom earnings, sales missed in the order, but their outlook for this fiscal year is saying that ai is going to contribute to growth early 5 . Theyd previously said 25 . These are the u. S. Chip makers that are implicated in this scoop from bloo
Audrey asistio welcome to nba bay area news. We will hear what the rest of the night looks like in a little bit. We are tracking stories including races undecided. Others up in the air. The fallout from the super tuesday race also in the south bay our ian cull is stalking with the candidates today. And closed for the day. Were hearing today she is going to tell us what caused the closure and the impact it had on families. And a suspected marijuana grow a police chase and an officer injured. Well tell you about the crazy scene today. Lets begin with our weather. This is hail coming down in san ramon part of an active day in the bay area. And how about some lightning as well . This is what it looks like just a few hours ago saw that. We slowed it down so you could see that full fair. And here is what it looks like in that area. A viewer sent us this photo showing the hail you can see piled up in her driveway. And here is one neighborhood that got flooded. Dwayne sent us this video on qua
Stories we are following at this hour. A big bomb test coming up, treasury options up, a giant test for the market yield sink on the long end and china cracks. We are going to speak to mark bristow. Welcome to Bloomberg Markets. It is said definite risk off move and there are different factors like banks and human and commodities are getting hit. It is hard to tease out the main macro narrative. Guy we are looking forward to options. We were waiting for this week to start. Hasnt it started with a bang . There are few pieces in the puzzle and we dont know where they go. The banking story is fascinating. The banking crisis this spring was kind of a warning signal and maybe we are seeing the next round of the narrative developing. The bigger banks, that are under review, it sends a clear signal that the banking crisis is not over and it is becoming clearer, the understanding of which banks will do ok. Alix what we want banks to be . Do we want them to be a utility were you keep money here
This is cbs news bay area with elizabeth cook. It is the biggest day of primary season. Millions of voters casting their ballots here in california and a dozen other states on this super tuesday. We are following the big money measures and biggest races. Thank you for joining us this afternoon. There is a lot at stake at the polls today and we have just five more hours to get ballots in. A political expert joins me in just a few minutes to break it all down, what the big races mean for you. First, lets get to anne makovec with news headlines. We are beginning with breaking news. 50 minutes go, police in oakland announced the arrest of the killing of a corner store worker earlier this year. It happened in february in january, rather. Family friends say the brother owns the store and he had worked there for years. The family friend says he came from yemen. He and his wife and his four children live near the store. Police Just Announced the arrest of a juvenile in connection with that. St